Document:

EX-4.8

 Exhibit 4.8 

HISTOGENICS CORPORATION, 

Issuer 
 AND 

[TRUSTEE], 
 Trustee

  
  

INDENTURE 
 Dated as of
[·] 
  

 
 Debt Securities 

 TABLE OF CONTENTS

 

							
	 	  	 	  	PAGE	 
			
	ARTICLE 1	  	DEFINITIONS	  	 	1	 
			
	 Section 1.01
	  	 Definitions of Terms
	  	 	1	 
			
	ARTICLE 2	  	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	  	 	3	 
			
	 Section 2.01
	  	 Designation and Terms of Securities
	  	 	3	 
	 Section 2.02
	  	 Form of Securities and Trustee’s Certificate
	  	 	4	 
	 Section 2.03
	  	 Denominations: Provisions for Payment
	  	 	4	 
	 Section 2.04
	  	 Execution and Authentications
	  	 	5	 
	 Section 2.05
	  	 Registration of Transfer and Exchange
	  	 	6	 
	 Section 2.06
	  	 Temporary Securities
	  	 	6	 
	 Section 2.07
	  	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	6	 
	 Section 2.08
	  	 Cancellation
	  	 	7	 
	 Section 2.09
	  	 Benefits of Indenture
	  	 	7	 
	 Section 2.10
	  	 Authenticating Agent
	  	 	7	 
	 Section 2.11
	  	 Global Securities
	  	 	7	 
	 Section 2.12
	  	 CUSIP Numbers
	  	 	8	 
			
	ARTICLE 3	  	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	  	 	8	 
			
	 Section 3.01
	  	 Redemption
	  	 	8	 
	 Section 3.02
	  	 Notice of Redemption
	  	 	8	 
	 Section 3.03
	  	 Payment Upon Redemption
	  	 	9	 
	 Section 3.04
	  	 Sinking Fund
	  	 	9	 
	 Section 3.05
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	 	9	 
	 Section 3.06
	  	 Redemption of Securities for Sinking Fund
	  	 	9	 
			
	ARTICLE 4	  	COVENANTS	  	 	9	 
			
	 Section 4.01
	  	 Payment of Principal, Premium and Interest
	  	 	9	 
	 Section 4.02
	  	 Maintenance of Office or Agency
	  	 	10	 
	 Section 4.03
	  	 Paying Agents
	  	 	10	 
	 Section 4.04
	  	 Appointment to Fill Vacancy in Office of Trustee
	  	 	10	 
			
	ARTICLE 5	  	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  	 	10	 
			
	 Section 5.01
	  	 Company to Furnish Trustee Names and Addresses of Securityholders
	  	 	10	 
	 Section 5.02
	  	 Preservation Of Information; Communications With Securityholders
	  	 	11	 
	 Section 5.03
	  	 Reports by the Company
	  	 	11	 
	 Section 5.04
	  	 Reports by the Trustee
	  	 	11	 
			
	ARTICLE 6	  	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	  	 	11	 
			
	 Section 6.01
	  	 Events of Default
	  	 	11	 
	 Section 6.02
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	12	 
	 Section 6.03
	  	 Application of Moneys Collected
	  	 	13	 
	 Section 6.04
	  	 Limitation on Suits
	  	 	13	 
	 Section 6.05
	  	 Rights and Remedies Cumulative; Delay or Omission Not Waiver
	  	 	13	 
	 Section 6.06
	  	 Control by Securityholders
	  	 	14	 
	 Section 6.07
	  	 Undertaking to Pay Costs
	  	 	14	 
			
	ARTICLE 7	  	CONCERNING THE TRUSTEE	  	 	14	 
			
	 Section 7.01
	  	 Certain Duties and Responsibilities of Trustee
	  	 	14	 
	 Section 7.02
	  	 Certain Rights of Trustee
	  	 	15	 
	 Section 7.03
	  	 Trustee Not Responsible for Recitals or Issuance or Securities
	  	 	16	 
	 Section 7.04
	  	 May Hold Securities
	  	 	16	 
	 Section 7.05
	  	 Moneys Held in Trust
	  	 	16	 

  
 ii 

							
	 Section 7.06
	  	 Compensation and Reimbursement
	  	 	16	 
	 Section 7.07
	  	 Reliance on Officer’s Certificate
	  	 	17	 
	 Section 7.08
	  	 Disqualification; Conflicting Interests
	  	 	17	 
	 Section 7.09
	  	 Corporate Trustee Required; Eligibility
	  	 	17	 
	 Section 7.10
	  	 Resignation and Removal; Appointment of Successor
	  	 	17	 
	 Section 7.11
	  	 Acceptance of Appointment By Successor
	  	 	18	 
	 Section 7.12
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	 	18	 
	 Section 7.13
	  	 Preferential Collection of Claims Against the Company
	  	 	18	 
	 Section 7.14
	  	 Notice of Default
	  	 	18	 
			
	 ARTICLE 8
	  	 CONCERNING THE SECURITYHOLDERS
	  	 	19	 
			
	 Section 8.01
	  	 Evidence of Action by Securityholders
	  	 	19	 
	 Section 8.02
	  	 Proof of Execution by Securityholders
	  	 	19	 
	 Section 8.03
	  	 Who May be Deemed Owners
	  	 	19	 
	 Section 8.04
	  	 Certain Securities Owned by Company Disregarded
	  	 	19	 
	 Section 8.05
	  	 Actions Binding on Future Securityholders
	  	 	19	 
			
	 ARTICLE 9
	  	 SUPPLEMENTAL INDENTURES
	  	 	20	 
			
	 Section 9.01
	  	 Supplemental Indentures Without the Consent of Securityholders
	  	 	20	 
	 Section 9.02
	  	 Supplemental Indentures With Consent of Securityholders
	  	 	20	 
	 Section 9.03
	  	 Effect of Supplemental Indentures
	  	 	21	 
	 Section 9.04
	  	 Securities Affected by Supplemental Indentures
	  	 	21	 
	 Section 9.05
	  	 Execution of Supplemental Indentures
	  	 	21	 
			
	 ARTICLE 10
	  	 SUCCESSOR ENTITY
	  	 	21	 
			
	 Section 10.01
	  	 Company May Consolidate, Etc.
	  	 	21	 
	 Section 10.02
	  	 Successor Entity Substituted
	  	 	21	 
			
	 ARTICLE 11
	  	 SATISFACTION AND DISCHARGE
	  	 	22	 
			
	 Section 11.01
	  	 Satisfaction and Discharge of Indenture
	  	 	22	 
	 Section 11.02
	  	 Discharge of Obligations
	  	 	22	 
	 Section 11.03
	  	 Deposited Moneys to be Held in Trust
	  	 	22	 
	 Section 11.04
	  	 Payment of Moneys Held by Paying Agents
	  	 	22	 
	 Section 11.05
	  	 Repayment to Company
	  	 	22	 
			
	 ARTICLE 12
	  	 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	 	22	 
			
	 Section 12.01
	  	 No Recourse
	  	 	22	 
			
	 ARTICLE 13
	  	 MISCELLANEOUS PROVISIONS
	  	 	23	 
			
	 Section 13.01
	  	 Effect on Successors and Assigns
	  	 	23	 
	 Section 13.02
	  	 Actions by Successor
	  	 	23	 
	 Section 13.03
	  	 Surrender of Company Powers
	  	 	23	 
	 Section 13.04
	  	 Notices
	  	 	23	 
	 Section 13.05
	  	 Governing Law; Jury Trial Waiver
	  	 	23	 
	 Section 13.06
	  	 Treatment of Securities as Debt
	  	 	23	 
	 Section 13.07
	  	 Certificates and Opinions as to Conditions Precedent
	  	 	23	 
	 Section 13.08
	  	 Payments on Business Days
	  	 	24	 
	 Section 13.09
	  	 Conflict with Trust Indenture Act
	  	 	24	 
	 Section 13.10
	  	 Counterparts
	  	 	24	 
	 Section 13.11
	  	 Separability
	  	 	24	 
	 Section 13.12
	  	 Compliance Certificates
	  	 	24	 
	 Section 13.13
	  	 U.S.A. Patriot Act
	  	 	24	 
	 Section 13.14
	  	 Force Majeure
	  	 	24	 
	 Section 13.15
	  	 Table of Contents; Headings
	  	 	24	 

  
 iii 

 INDENTURE 

INDENTURE, dated as of [·],
20    , among Histogenics Corporation, a Delaware corporation (the “Company”), and [TRUSTEE], as trustee (the “Trustee”): 

WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of
debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered Securities without
coupons, to be authenticated by the certificate of the Trustee; 
 WHEREAS, to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make
this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises
and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 

ARTICLE 1 
 DEFINITIONS

 Section 1.01 Definitions of Terms. 
 The
terms defined in this Section (except as in this Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall
have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act
defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture
Act and in said Securities Act as in force at the date of the execution of this instrument. 
 “Authenticating Agent” means the
Trustee or an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee pursuant to Section 2.10. 

“Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. 

“Board of Directors” means the Board of Directors (or the functional equivalent thereof) of the Company or any duly authorized
committee of such Board. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of
the Company to have been duly adopted by the Board of Directors (or duly authorized committee thereof) and to be in full force and effect on the date of such certification. 

“Business Day” means, with respect to any series of Securities, any day other than a day on which federal or state banking
institutions in the Borough of Manhattan, the City of New York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive order or regulation to close. 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at
any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

“Company” means Alder BioPharmaceuticals, Inc., a corporation duly organized and existing under the laws of the State of Delaware,
and, subject to the provisions of Article Ten, shall also include its successors and assigns. 
 “Corporate Trust Office” means the
office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office at the date hereof is located at [    ]. 

“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

“Defaulted Interest” has the meaning set forth in Section 2.03. 

“Depositary” means, with respect to Securities of any series for which the Company shall determine that such Securities will be issued
as a Global Security, The Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in each case, shall be designated by the Company
pursuant to either Section 2.01 or 2.11. 
 “Event of Default” means, with respect to Securities of a particular series, any
event specified in Section 6.01, continued for the period of time, if any, therein designated. 
 “Exchange Act” means the
United States Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder. 

  
 1 

 “Global Security” means a Security issued to evidence all or a part of any series of
Securities which is executed by the Company and authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the
Depositary or its nominee. 
 “Governmental Obligations” means securities that are (a) direct obligations of the United States
of America for the payment of 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 by the United States of America that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated maturity of the Securities, and
shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for
the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt. 

“herein”, “hereof” and “hereunder”, and other words of similar import, refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 “Indenture” means this instrument as
originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof and shall include the terms of particular series of Securities established
as contemplated by Section 2.01. 
 “Interest Payment Date”, when used with respect to any installment of interest on a
Security of a particular series, means the date specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities
of that series is due and payable. 
 “Officer” means, with respect to the Company, the chairman of the Board of Directors, a chief
executive officer, a president, a chief financial officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant treasurer, the controller or any assistant controller
or the secretary or any assistant secretary. 
 “Officer’s Certificate” means a certificate signed by any Officer. Each such
certificate shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 
 “Opinion
of Counsel” means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof. Each such opinion
shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 

“Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of any
particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying
agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with the
Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such
Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article Three, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities
in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07. 

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

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost,
destroyed or stolen Security. 
 “Responsible Officer” when used with respect to the Trustee means any officer within the Corporate
Trust Office of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject and in each case who shall have direct responsibility for the administration of this Indenture.

 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Securityholder”, “holder of Securities”, “registered holder”, or other similar term,
means the Person or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this Indenture. 

“Security Register” and “Security Registrar” shall have the meanings as set forth in Section 2.05. 

  
 2 

 “Subsidiary” means, with respect to any Person, any corporation, association,
partnership or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more
Subsidiaries of such Person. 
 “Trustee” means , and, subject to the provisions of Article Seven, shall also include its successors
and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to a particular series of the Securities shall mean
the trustee with respect to that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended. 

“U.S.A. Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001, Pub. L. 107-56, as amended and signed into law October 26, 2001. 

ARTICLE 2 
 ISSUE,
DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND 
 EXCHANGE OF SECURITIES 

Section 2.01 Designation and Terms of Securities. 

(a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued
in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of
Securities of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto: 

(1) the title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities); 

(2) any limit upon the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture (except
for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series); 

(3) the maturity date or dates on which the principal of the Securities of the series is payable; 

(4) the form of the Securities of the series including the form of the certificate of authentication for such series; 

(5) the applicability of any guarantees; 
 (6)
whether or not the Securities will be secured or unsecured, and the terms of any secured debt; 
 (7) whether the Securities rank as senior debt,
senior subordinated debt, subordinated debt or any combination thereof, and the terms of any subordination; 
 (8) if the price (expressed as a
percentage of the aggregate principal amount thereof) at which such Securities will be issued is a price other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity
thereof, or if applicable, the portion of the principal amount of such Securities that is convertible into another security or the method by which any such portion shall be determined; 

(9) the interest rate or rates, which may be fixed or variable, or the method for determining the rate and the date interest will begin to accrue, the
dates interest will be payable and the regular record dates for interest payment dates or the method for determining such dates; 
 (10) the
Company’s right, if any, to defer the payment of interest and the maximum length of any such deferral period; 
 (11) if applicable, the date or
dates after which, or the period or periods during which, and the price or prices at which, the Company may at its option, redeem the series of Securities pursuant to any optional or provisional redemption provisions and the terms of those
redemption provisions; 
 (12) the date or dates, if any, on which, and the price or prices at which the Company is obligated, pursuant to any
mandatory sinking fund or analogous fund provisions or otherwise, to redeem, or at the Securityholder’s option to purchase, the series of Securities and the currency or currency unit in which the Securities are payable; 

(13) the denominations in which the Securities of the series shall be issuable, if other than denominations of one thousand U.S. dollars ($1,000) or
any integral multiple thereof; 
 (14) any and all terms, if applicable, relating to any auction or remarketing of the Securities of that series and
any security for the obligations of the Company with respect to such Securities and any other terms which may be advisable in connection with the marketing of Securities of that series; 

(15) whether the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the terms and conditions,
if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities; and the Depositary for such Global Security or Securities; 

  
 3 

 (16) if applicable, the provisions relating to conversion or exchange of any Securities of the series
and the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at the
Company’s option or the holders’ option) conversion or exchange features, the applicable conversion or exchange period and the manner of settlement for any conversion or exchange, which may, without limitation, include the payment of cash
as well as the delivery of securities; 
 (17) if other than the full principal amount thereof, the portion of the principal amount of Securities of
the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 
 (18) additions to or
changes in the covenants applicable to the series of Securities being issued, including, among others, the consolidation, merger or sale covenant; 

(19) additions to or changes in the Events of Default with respect to the Securities and any change in the right of the Trustee or the Securityholders
to declare the principal, premium, if any, and interest, if any, with respect to such Securities to be due and payable; 
 (20) additions to or
changes in or deletions of the provisions relating to covenant defeasance and legal defeasance; 
 (21) additions to or changes in the provisions
relating to satisfaction and discharge of this Indenture; 
 (22) additions to or changes in the provisions relating to the modification of this
Indenture both with and without the consent of Securityholders of Securities issued under this Indenture; 
 (23) the currency of payment of
Securities if other than U.S. dollars and the manner of determining the equivalent amount in U.S. dollars; 
 (24) whether interest will be payable
in cash or additional Securities at the Company’s or the Securityholders’ option and the terms and conditions upon which the election may be made; 

(25) the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal
amounts of the Securities of the series to any Securityholder that is not a “United States person” for federal tax purposes; 
 (26) any
restrictions on transfer, sale or assignment of the Securities of the series; and 
 (27) any other specific terms, preferences, rights
or limitations of, or restrictions on, the Securities, any other additions or changes in the provisions of this Indenture, and any terms that may be required by us or advisable under applicable laws or regulations. 

All Securities of any one series shall be substantially identical except as may otherwise be provided in or pursuant to any such Board Resolution or in any
indentures supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy
of an appropriate record of such action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate of the Company setting forth the terms of
the series. 
 Securities of any particular series may be issued at various times, with different dates on which the principal or any installment of
principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different redemption dates. 

Section 2.02 Form of Securities and Trustee’s Certificate. 

The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and
purport as set forth in one or more indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officer’s Certificate, and they may have such letters, numbers or other marks of identification or designation and such
legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange on which Securities of that series may be listed, or to conform to usage. 

Section 2.03 Denominations: Provisions for Payment. 

The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof,
subject to Section 2.01(a)(13). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(23), the principal of and the interest on the
Securities of any series, as well as any premium thereon in case of redemption or repurchase thereof prior to maturity, and any cash amount due upon conversion or exchange thereof, shall be payable in the coin or currency of the United States of
America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on
the basis of a 360-day year composed of twelve 30-day months. 

  
 4 

 The interest installment on any Security that is payable, and is punctually paid or duly provided for, on
any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment.
In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date,
interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. 
 Any interest on any Security
that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the
relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 

(1) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor
Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as
in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after
the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such
special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date. 
 (2) The Company may make payment of any Defaulted Interest on any
Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in
a Board Resolution or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of
Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur,
if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth
day of a month, whether or not such date is a Business Day. 
 Subject to the foregoing provisions of this Section, each Security of a series delivered
under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

Section 2.04 Execution and Authentications. 

The Securities shall be signed on behalf of the Company by one of its Officers. Signatures may be in the form of a manual or facsimile signature. 

The Company may use the facsimile signature of any Person who shall have been an Officer (at the time of execution), notwithstanding the fact that at the time
the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage.
Each Security shall be dated the date of its authentication by the Trustee. 
 A Security shall not be valid until authenticated manually by an authorized
signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this
Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company
for the authentication and delivery of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 

Upon the Company’s delivery of any such authentication order to the Trustee at any time after the initial issuance of Securities under this Indenture,
the Trustee shall be provided with, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon, (1) an Opinion of Counsel or reliance letter and (2) an Officer’s Certificate
stating that all conditions precedent to the execution, authentication and delivery of such Securities are in conformity with the provisions of this Indenture. 

The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s
own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 

  
 5 

 Section 2.05 Registration of Transfer and Exchange. 

(a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose, for other
Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any
Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange
shall be entitled to receive, bearing numbers not contemporaneously outstanding. 
 (b) The Company shall keep, or cause to be kept, at its office or
agency designated for such purpose a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of
Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall be appointed as
authorized by Board Resolution (the “Security Registrar”). 
 Upon surrender for transfer of any Security at the office or agency of the Company
designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for
a like aggregate principal amount. 
 All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall
be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such
holder’s duly authorized attorney in writing. 
 (c) Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set
forth in an Officer’s Certificate, or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of
partial redemption of any series or repurchase, conversion or exchange of less than the entire principal amount of a Security, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto,
other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer. 
 (d) The Company shall
not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities
of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption or surrendered for repurchase, but not
validly withdrawn, other than the unredeemed portion of any such Securities being redeemed in part or not surrendered for repurchase, as the case may be. The provisions of this Section 2.05 are, with respect to any Global Security, subject to
Section 2.11 hereof. 
 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners of interests in any Global Security)
other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof. 
 Section 2.06 Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities
(printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions, insertions and variations as
may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same
manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities of such series may be
surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities
an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until further notice from the Company. Until so
exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder. 

Section 2.07 Mutilated, Destroyed, Lost or Stolen Securities. 

In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence)
shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the
mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by
them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security
and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

  
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 In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or
stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the
Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the
ownership thereof. 
 Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of
the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other
Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or
other securities without their surrender. 
 Section 2.08 Cancellation. 

All Securities surrendered for the purpose of payment, redemption, repurchase, exchange, registration of transfer or conversion shall, if surrendered to the
Company or any paying agent (or any other applicable agent), be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or
permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose
of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

Section 2.09 Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties hereto and the
holders of the Securities any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for the sole benefit
of the parties hereto and of the holders of the Securities. 
 Section 2.10 Authenticating Agent. 

So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of Securities which the
Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption, repurchase or conversion thereof,
and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities
by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently
reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is
subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 

Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and
upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility of any
Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and
duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 
 Section 2.11 Global
Securities. 
 (a) If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a
Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction (or if the Depositary names the Trustee as its custodian, retained by the Trustee), and (iv) shall bear a legend substantially to the following effect: “Except as otherwise provided in Section 2.11 of the Indenture, this
Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 

(b) Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part and in the manner
provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary. 

  
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 (c) If at any time the Depositary for a series of the Securities notifies the Company that it is
unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor
Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has
received a request from the Depositary or from the Trustee, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate and
deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global
Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such
series. In such event the Company will execute and, subject to Section 2.04, the Trustee, upon receipt of an Officer’s Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in
definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange of the Global
Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security
pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee
shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered. 

Section 2.12 CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers
in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and
that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any
change in the “CUSIP” numbers. 
 ARTICLE 3 

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 

Section 3.01 Redemption. 
 The
Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof. 

Section 3.02 Notice of Redemption. 

(a) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in
accordance with any right the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by
mailing, first class postage prepaid (or with regard to any Global Security held in book entry form, by electronic mail), a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series
to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to
have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice,
shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the
terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with any such restriction. 

Each such notice of redemption shall identify the Securities to be redeemed (including CUSIP numbers, if any), specify the date fixed for redemption and the
redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company, upon presentation and surrender of
such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is from a sinking fund, if such is the case. If
less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular Securities to be so redeemed. 

In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be
redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 

(b) If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days’ notice (unless a shorter
notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it
shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a
denomination larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing 

  
 8 

 
of the numbers of the Securities to be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct
the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as
the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or
such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the
provisions of this Section. 
 Section 3.03 Payment Upon Redemption. 

(a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series to be
redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or
portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On
presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with
interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an Interest Payment Date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the
applicable record date pursuant to Section 2.03). 
 (b) Upon presentation of any Security of such series that is to be redeemed in part only,
the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations
in principal amount equal to the unredeemed portion of the Security so presented. 
 Section 3.04 Sinking Fund. 

The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 2.01 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking
fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such series. 
 Section 3.05 Satisfaction of Sinking
Fund Payments with Securities. 
 The Company (i) may deliver Outstanding Securities of a series and (ii) may apply as a credit Securities of a
series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in
satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have
not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking
fund payment shall be reduced accordingly. 
 Section 3.06 Redemption of Securities for Sinking Fund. 

Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the
Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering
and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officer’s Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each
such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the
expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03. 

ARTICLE 4 
 COVENANTS

 Section 4.01 Payment of Principal, Premium and Interest. 

The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time
and place and in the manner provided herein and established with respect to such Securities. Payments of principal on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check drawn
on and mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have furnished wire instructions to the
Trustee no later than 15 days prior to the relevant payment date. Payments of interest on the 

  
 9 

 
Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of the Securityholder entitled thereto as such
address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee no later than 15 days prior to
the relevant payment date. 
 Section 4.02 Maintenance of Office or Agency. 

So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency with respect to each such series and at such
other location or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of that series may be presented as herein above authorized for
registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office or
agency until the Company shall, by written notice signed by any officer authorized to sign an Officer’s Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. The Company initially appoints the Corporate Trust Office of the Trustee as its paying agent with respect to the Securities. 

Section 4.03 Paying Agents. 

(a) If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will cause each
such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 

(1) that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on the Securities of that
series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto; 

(2) that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment of the
principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable; 
 (3) that it will, at any
time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and 

(4) that it will perform all other duties of paying agent as set forth in this Indenture. 

(b) If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due date of the principal
of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming due on
Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such
action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent a
sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the
Company will promptly notify the Trustee of this action or failure so to act. 
 (c) Notwithstanding anything in this Section to the contrary,
(i) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or
for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held
by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money. 

Section 4.04 Appointment to Fill Vacancy in Office of Trustee. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so
that there shall at all times be a Trustee hereunder. 
 ARTICLE 5 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

Section 5.01 Company to Furnish Trustee Names and Addresses of Securityholders. 

The Company will furnish or cause to be furnished to the Trustee (a) within 15 days after each regular record date (as defined in Section 2.03) a
list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such
list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by the Company
of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall
be the Security Registrar. 

  
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 Section 5.02 Preservation Of Information; Communications With
Securityholders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and
addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if
acting in such capacity). 
 (b) The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so
furnished. 
 (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with
respect to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions
of Section 312(b) of the Trust Indenture Act. 
 Section 5.03 Reports by the Company. 

(a) The Company will at all times comply with Section 314(a) of the Trust Indenture Act. The Company covenants and agrees to provide (which
delivery may be via electronic mail) to the Trustee within 30 days, after the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the
foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company
shall not be required to deliver to the Trustee any correspondence filed with the Commission or any materials for which the Company has sought and received confidential treatment by the Commission; and provided further, that so long as such filings
by the Company are available on the Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), or any successor system, such filings shall be deemed to have been filed with the Trustee for purposes hereof without any further
action required by the Company. For the avoidance of doubt, a failure by the Company to file annual reports, information and other reports with the SEC within the time period prescribed thereof by the Commission shall not be deemed a breach of this
Section 5.03. 
 (b) Delivery of reports, information and documents to the Trustee under Section 5.03 is for informational purposes only
and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from information contained therein including the Company’s compliance with any of
their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate). The Trustee is under no duty to examine any such reports, information or documents delivered to the Trustee or filed with the SEC
via EDGAR to ensure compliance with the provision of this Indenture or to ascertain the correctness or otherwise of the information or the statements contained therein. The Trustee shall have no responsibility or duty whatsoever to ascertain or
determine whether the above referenced filings with the SEC on EDGAR (or any successor system) has occurred. 
 Section 5.04
Reports by the Trustee. 
 (a) If required by Section 313(a) of the Trust Indenture Act, the Trustee, within sixty (60) days after
each May 1, shall transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of such May 1, which complies with Section 313(a) of the
Trust Indenture Act. 
 (b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act. 

(c) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each
securities exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company agrees to notify the Trustee when any Securities become listed on any securities exchange. 

ARTICLE 6 
 REMEDIES OF
THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 
 Section 6.01 Events of Default. 

(a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the following events
that has occurred and is continuing: 
 (1) the Company defaults in the payment of any installment of interest upon any of the Securities of that
series, as and when the same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company in accordance with the terms of any indenture
supplemental hereto shall not constitute a default in the payment of interest for this purpose; 
 (2) the Company defaults in the payment of the
principal of (or premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking or analogous
fund established with respect to that series; provided, however, that a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal
or premium, if any; 
 (3) the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in
this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a 

  
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covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date
on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified mail, or to the
Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time Outstanding; 
 (4) the
Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of
it or for all or substantially all of its property or (iv) makes a general assignment for the benefit of its creditors; or 
 (5) a court of
competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders
the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days. 
 (b) In each and every such case (other than an
Event of Default specified in clause (4) or clause (5) above), unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate
principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid
interest on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause (4) or clause
(5) above occurs, the principal of and accrued and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the
Securities. 
 (c) At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series
shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities
of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal
and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit) and the
amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest
on Securities of that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06. 
 No such
rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 
 (d) In case the Trustee
shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have
been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights,
remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken. 
 Section 6.02
Collection of Indebtedness and Suits for Enforcement by Trustee. 
 (a) The Company covenants that (i) in case it shall default in the
payment of any installment of interest on any of the Securities of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, and such default
shall have continued for a period of 90 days, or (ii) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity
of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then
shall have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such
interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, and the amount payable to the Trustee under Section 7.06. 
 (b) If the Company shall fail to pay such amounts forthwith
upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any
such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner
provided by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever situated. 
 (c) In case
of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such
proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to
have the claims of the Trustee and of the holders of Securities of such series allowed for the entire amount due and payable 

  
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by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to collect and
receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to
the Trustee any amount due it under Section 7.06. 
 (d) All rights of action and of asserting claims under this Indenture, or under any of the
terms established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or
proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable
benefit of the holders of the Securities of such series. 
 In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect
and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for
the specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan
of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding. 

Section 6.03 Application of Moneys Collected. 

Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially
paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of costs and expenses of collection and of all amounts payable to the Trustee under
Section 7.06; 
 SECOND: To the payment of the amounts then due and unpaid upon Securities of such series for principal (and premium, if any) and
interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any) and
interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company or any other Person lawfully entitled thereto. 

Section 6.04 Limitation on Suits. 

No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice
of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in aggregate principal amount of the
Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders shall have offered to the Trustee
indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; (iv) the Trustee for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to
institute any such action, suit or proceeding and (v) during such 90 day period, the holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request. 

Notwithstanding anything contained herein to the contrary or any other provisions of this Indenture, the right of any holder of any Security to receive
payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on the redemption date), or to institute suit for
the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood, intended and covenanted
by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any
provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture,
except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall
be entitled to such relief as can be given either at law or in equity. 
 Section 6.05 Rights and Remedies Cumulative; Delay or
Omission Not Waiver. 
 (a) Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to
the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the
performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 

  
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 (b) No delay or omission of the Trustee or of any holder of any of the Securities to exercise any
right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions of
Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

Section 6.06 Control by Securityholders. 

The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with
Section 8.04, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided,
however, that such direction shall not be in conflict with any rule of law or with this Indenture or subject the Trustee in its sole discretion to personal liability. Subject to the provisions of Section 7.01, the Trustee shall have the right
to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee, determine that the proceeding so directed, subject to the Trustee’s duties under the Trust Indenture Act, would
involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected
thereby, determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to
Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of
such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with
Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former
positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 6.07 Undertaking to Pay Costs. 

All parties to this Indenture agree, and each holder of any Securities by such holder’s acceptance thereof shall be deemed to have agreed, that any court
may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good
faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than 10%
in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or
after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 ARTICLE 7 

CONCERNING THE TRUSTEE 

Section 7.01 Certain Duties and Responsibilities of Trustee. 

(a) The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events of Default
with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants
shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such
of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his or her own affairs. 

(b) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to
act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of an Event of Default with respect to the Securities of a series and
after the curing or waiving of all such Events of Default with respect to that series that may have occurred: 
 (A) the duties and obligations of
the Trustee shall with respect to the Securities of such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such
duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(B) in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that
by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture; 

(ii) the Trustee shall not be liable to any Securityholder or to any other Person for any error of judgment made in good faith by a Responsible Officer
or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

  
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 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it
in good faith in accordance with the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; 

(iv) none of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial
liability in the performance of any of its duties or in the exercise of any of its rights or powers if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this
Indenture or adequate indemnity against such risk is not reasonably assured to it; 
 (v) The Trustee shall not be required to give any bond or
surety in respect of the performance of its powers or duties hereunder; 
 (vi) The permissive right of the Trustee to do things enumerated in this
Indenture shall not be construed as a duty of the Trustee; and 
 (vii) No Trustee shall have any duty or responsibility for any act or omission of
any other Trustee appointed with respect to a series of Securities hereunder. 
 Section 7.02 Certain Rights of Trustee.

 Except as otherwise provided in Section 7.01: 

(a) The Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an instrument
signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof is specifically prescribed herein); 

(c) The Trustee may consult with counsel and the opinion or written advice of such counsel or, if requested, any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 
 (d)
The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee security or indemnity reasonably acceptable to the Trustee against the costs, expenses and liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the
Trustee of the obligation, upon the occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to exercise with respect to Securities of that series such of the rights and powers vested in it by
this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his or her own affairs; 

(e) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the
discretion or rights or powers conferred upon it by this Indenture; 
 (f) The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents or inquire as to the performance by the Company of one of its covenants
under this Indenture, unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.04);
provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require security or indemnity reasonably acceptable to the Trustee against such costs, expenses or liabilities as a condition to so proceeding. The reasonable
expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; 
 (g) The
Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder; 
 (h) In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent
with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances; 
 (i) In no event shall the
Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such
loss or damage and regardless of the form of action; and 
 (j) The Trustee agrees to accept and act upon instructions or directions pursuant to this
Indenture sent by unsecured e-mail, 

  
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facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written
instructions, shall provide the originally executed instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing
such instructions or directions. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon
such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and
compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic
methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. The Trustee may request that the
Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to furnish the Trustee with Officer’s Certificates, Company Orders and any other matters or directions
pursuant to this Indenture. 
 (k) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation,
its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder. 
 (l) The Trustee shall
not be deemed to have knowledge of any Default or Event of Default (other than an Event of Default relating to the failure to pay the interest on, or the principal of, the Securities) until the Trustee shall have received written notification in the
manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge. 
 Section 7.03
Trustee Not Responsible for Recitals or Issuance or Securities. 
 (a) The recitals contained herein and in the Securities shall be taken as
the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee shall not be responsible for any statement in any registration statement, prospectus, or any other document in connection with the
sale of Securities. The Trustee shall not be responsible for any rating on the Securities or any action or omission of any rating agency. 
 (b) The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. 
 (c) The Trustee shall not be
accountable for the use or application by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or
established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the Trustee. 

Section 7.04 May Hold Securities. 

The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same
rights it would have if it were not Trustee, paying agent or Security Registrar. 
 Section 7.05 Moneys Held in Trust. 

Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the
purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the
Company to pay thereon. 
 Section 7.06 Compensation and Reimbursement. 

(a) The Company shall pay to the Trustee for each of its capacities hereunder from time to time compensation for its services as the Company and the
Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. 

(b) The Company shall indemnify each of the Trustee in each of its capacities hereunder against any loss, liability or expense (including the cost of
defending itself and including the reasonable compensation and expenses of the Trustee’s agents and counsel) incurred by it except as set forth in Section 7.06(c) in the exercise or performance of its powers, rights or duties under this
Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel
and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. This indemnification shall apply to officers,
directors, employees, shareholders and agents of the Trustee. 
 (c) The Company need not reimburse any expense or indemnify against any loss or
liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through negligence or bad faith. 
 (d)
To ensure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities on all funds or property held or collected by the Trustee, except that held in trust to pay principal of or interest on
particular Securities. When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.01(4) or (5), the expenses (including the reasonable fees and expenses of its counsel) and the
compensation for services in connection therewith are to constitute expenses of administration under any bankruptcy law. The provisions of this Section 7.06 shall survive the termination of this Indenture and the resignation or removal of the
Trustee. 

  
 16 

 Section 7.07 Reliance on Officer’s Certificate. 

Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it reasonably
necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of
negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the
Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 

Section 7.08 Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and
the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 Section 7.09
Corporate Trustee Required; Eligibility. 
 There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all
times be a corporation organized and doing business under the laws of the United States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission,
authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of
Columbia authority. 
 If such corporation or other Person publishes reports of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus as set forth in its most recent report
of condition so published. The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10. 

Section 7.10 Resignation and Removal; Appointment of Successor. 

(a) The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series by giving written
notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of
resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court
of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of
himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any one of the following shall occur: 

(i) the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any Securityholder
who has been a bona fide holder of a Security or Securities for at least six months; or 
 (ii) the Trustee shall cease to be eligible in accordance
with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any such Securityholder; or 

(iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a
receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 

then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of a Security or Securities for at
least six months may, on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if
any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
 (c) The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the
Company. 
 (d) Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant
to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(e) Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such
series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 

  
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 Section 7.11 Acceptance of Appointment By Successor. 

(a) In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and
deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee
hereunder. 
 (b) In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series, the
Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which
(i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or
those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no
Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to
the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for
the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor trustee relates. 
 (c) Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

(d) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and eligible
under this Article. 
 (e) Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of
the succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of
appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 

Section 7.12 Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, including the administration of the trust created by this Indenture, shall be
the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further
act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

Section 7.13 Preferential Collection of Claims Against the Company. 

The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust
Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 

Section 7.14 Notice of Default. 
 If any Event of
Default occurs and is continuing and if such Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act
notice of the Event of Default within the earlier of 90 days after it occurs and 30 days after it is known to a Responsible Officer of the Trustee or written notice of it is received by the Trustee, unless such Event of Default has been

  
 18 

 
cured; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security, the Trustee shall be protected in
withholding such notice if and so long as the Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Securityholders. 

ARTICLE 8 
 CONCERNING
THE SECURITYHOLDERS 
 Section 8.01 Evidence of Action by Securityholders. 

Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the Securities of a
particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of such majority or
specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy appointed in writing. 

If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice, consent, waiver or other action,
the Company may, at its option, as evidenced by an Officer’s Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand, authorization, direction, notice, consent,
waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given before or after the record date, but only
the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of that series have
authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the record date; provided, however,
that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 

Section 8.02 Proof of Execution by Securityholders. 

Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or his
or her agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 
 (a) The
fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee. 
 (b) The
ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof. 
 The Trustee
may require such additional proof of any matter referred to in this Section as it shall deem necessary. 
 Section 8.03 Who May
be Deemed Owners. 
 Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any
Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any
notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for
all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 

Section 8.04 Certain Securities Owned by Company Disregarded. 

In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any direction, consent or
waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common control with the
Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in
relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding for
the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. 

Section 8.05 Actions Binding on Future Securityholders. 

At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the
majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be included

  
 19 

 
in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action
so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in
exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate
principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 

ARTICLE 9 
 SUPPLEMENTAL
INDENTURES 
 Section 9.01 Supplemental Indentures Without the Consent of Securityholders. 

In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into
an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following purposes: 

(a) to cure any ambiguity, defect, or inconsistency herein or in the Securities of any series; 

(b) to comply with Article Ten; 
 (c) to provide
for uncertificated Securities in addition to or in place of certificated Securities; 
 (d) to add to the covenants, restrictions, conditions or
provisions relating to the Company for the benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all series of Securities, stating that such
covenants, restrictions, conditions or provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants, restrictions,
conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company; 
 (e) to add to, delete from, or
revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth; 

(f) to make any change that does not adversely affect the rights of any Securityholder in any material respect; 

(g) to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.01, to
establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series of Securities; 

(h) to evidence and provide for the acceptance of appointment hereunder by a successor trustee; or 

(i) to comply with any requirements of the Commission or any successor in connection with the qualification of this Indenture under the Trust Indenture
Act. 
 The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, and to make any further appropriate
agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Any supplemental indenture authorized by the provisions of this Section may be executed by the Company and the Trustee without the consent of the holders of
any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 
 Section 9.02
Supplemental Indentures With Consent of Securityholders. 
 With the consent (evidenced as provided in Section 8.01) of the holders of not less
than a majority in aggregate principal amount of the Securities of each series affected by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to time
and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby, (a) extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate
or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof or (b) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture.

 It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

  
 20 

 Section 9.03 Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to
such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities of
the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to
be part of the terms and conditions of this Indenture for any and all purposes. 
 Section 9.04 Securities Affected by
Supplemental Indentures. 
 Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such
supplemental indenture pursuant to the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be
listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture
contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding. 

Section 9.05 Execution of Supplemental Indentures. 

Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with
the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01,
shall receive an Officer’s Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by the terms of this Article and that all conditions precedent
to the execution of the supplemental indenture have been complied with; provided, however, that such Officer’s Certificate or Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes
the terms of a series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the execution by the Company and the Trustee of any supplemental
indenture pursuant to the provisions of this Section, the Company shall (or shall direct the Trustee to) transmit by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the
Securityholders of all series affected thereby .as their names and addresses appear upon the Security Register. Any failure of the Company to mail, or cause the mailing of, such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such supplemental indenture. 
 ARTICLE 10 

SUCCESSOR ENTITY 
 Section 10.01
Company May Consolidate, Etc. 
 Nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other
Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the
property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other Person (whether or not affiliated with the Company or its successor or successors); provided, however, the Company hereby covenants
and agrees that, upon any such consolidation or merger (in each case, if the Company is not the survivor of such transaction) or any such sale, conveyance, transfer or other disposition (other than a sale, conveyance, transfer or other disposition
to a Subsidiary of the Company), the due and punctual payment of the principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual
performance and observance of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed,
by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into
which the Company shall have been merged, or by the entity which shall have acquired such property. 
 Section 10.02 Successor
Entity Substituted. 
 (a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by
the successor entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set forth under Section 10.01 on all of the Securities of all series Outstanding, such successor
entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the
Securities. 
 (b) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and form
(but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 
 (c) Nothing contained in this Article shall
require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the
property of any other Person (whether or not affiliated with the Company). 

  
 21 

 ARTICLE 11 

SATISFACTION AND DISCHARGE 

Section 11.01 Satisfaction and Discharge of Indenture. 

If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated and not
delivered to the Trustee for cancellation (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or Governmental
Obligations have theretofore been deposited in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a
particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to
the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums
payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall
survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall
execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

Section 11.02 Discharge of Obligations. 

If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as
described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption all such Securities of
that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall
also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the Company
under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be
paid. 
 Thereafter, Sections 7.06 and 11.05 shall survive. 

Section 11.03 Deposited Moneys to be Held in Trust. 

All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment
as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or Governmental Obligations have
been deposited with the Trustee. 
 Section 11.04 Payment of Moneys Held by Paying Agents. 

In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions
of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations. 

Section 11.05 Repayment to Company. 

Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or
premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date upon which the principal of (and premium, if any) or interest on
such Securities shall have respectively become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May 31 of each year or upon the
Company’s request or (if then held by the Company) shall be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and the
holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company for the payment thereof. 

ARTICLE 12 
 IMMUNITY OF
INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 
 Section 12.01 No Recourse. 

No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based

  
 22 

 
thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or
successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being
expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or
directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this
Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against,
every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the
Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 

ARTICLE 13 

MISCELLANEOUS PROVISIONS 

Section 13.01 Effect on Successors and Assigns. 

All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether
so expressed or not. 
 Section 13.02 Actions by Successor. 

Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall
and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company. 

Section 13.03 Surrender of Company Powers. 

The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to
the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation. 

Section 13.04 Notices. 
 Except
as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee, the Security Registrar, any paying or other agent under this Indenture
or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the
Company with the Trustee), as follows: . Any notice, election, request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made,
for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee. 
 Section 13.05 Governing Law;
Jury Trial Waiver. 
 This Indenture and each Security shall governed by, and construed in accordance with, the internal laws of the State of New York,
except to the extent that the Trust Indenture Act is applicable. 
 EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE. 

Section 13.06 Treatment of Securities as Debt. 

It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be
interpreted to further this intention. 
 Section 13.07 Certificates and Opinions as to Conditions Precedent. 

(a) Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall
furnish to the Trustee an Officer’s Certificate stating that all conditions precedent provided for in this Indenture (other than the certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied
with and, if requested, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents
is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished. 

(b) Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in
this Indenture (other than the certificate to be delivered pursuant to Section 13.12 or Section 314(a)(1) of the Trust Indenture Act) shall include (i) a statement that the Person making such certificate or opinion has read such
covenant or condition; (ii) a brief statement as to the nature and scope of the examination or investigation upon which 

  
 23 

 
the statements or opinions contained in such certificate or opinion are based; (iii) a statement that, in the opinion of such Person, he has made such examination or investigation as is
reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has
been complied with. 
 Section 13.08 Payments on Business Days. 

Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more
indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if
any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 

Section 13.09 Conflict with Trust Indenture Act. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Section 318(c) of the Trust Indenture
Act, such imposed duties shall control. 
 Section 13.10 Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and
the same instrument. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the
original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 13.11 Separability. 
 In
case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not
affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

Section 13.12 Compliance Certificates. 

The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of any series were outstanding, an
officer’s certificate stating whether or not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from the principal executive officer, principal financial officer or
principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and covenants under this
Indenture. For purposes of this Section 13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company signing such certificate has
knowledge of such an Event of Default, the certificate shall describe any such Event of Default and its status. 
 Section 13.13 U.S.A Patriot Act.

 The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in
order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to
this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

Section 13.14 Force Majeure. 
 In no event shall the
Trustee, the Security Registrar, any paying agent or any other agent under this Indenture be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces
beyond its control, including without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions or utilities,
communications or computer (software and hardware) services; it being understood that the Trustee, the Security Registrar, any paying agent or any other agent under this Indenture shall use reasonable efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 13.15 Table of Contents;
Headings. 
 The table of contents and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are
not intended to be considered a part hereof, and will not modify or restrict any of the terms or provisions hereof. 

  
 24 

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

			
	HISTOGENICS CORPORATION

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[TRUSTEE], as Trustee

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 25 

 CROSS-REFERENCE TABLE (1) 
  

			
	 Section of Trust Indenture Act of 1939, as Amended
	  	 Section of Indenture

	310(a)	  	7.09
	310(b)	  	7.08
		  	7.10
	310(c)	  	Inapplicable
	311(a)	  	7.13
	311(b)	  	7.13
	311(c)	  	Inapplicable
	312(a)	  	5.01
		  	5.02(a)
	312(b)	  	5.02(c)
	312(c)	  	5.02(c)
	313(a)	  	5.04(a)
	313(b)	  	5.04(b)
	313(c)	  	5.04(a)
		  	5.04(b)
	313(d)	  	5.04(c)
	314(a)	  	5.03
		  	13.12
	314(b)	  	Inapplicable
	314(c)	  	13.07(a)
	314(d)	  	Inapplicable
	314(e)	  	13.07(b)
	314(f)	  	Inapplicable
	315(a)	  	7.01(a)
		  	7.01(b)
	315(b)	  	7.14
	315(c)	  	7.01
	315(d)	  	7.01(b)
	315(e)	  	6.07
	316(a)	  	6.06
		  	8.04
	316(b)	  	6.04
	316(c)	  	8.01
	317(a)	  	6.02
	317(b)	  	4.03
	318(a)	  	13.09

  

	(1)	 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the
interpretation of any of its terms or provisions. 

  
 26EX-4.4

 Exhibit 4.4 

Execution Version 
 NIO INC. 

 
  

FIFTH AMENDED AND RESTATED 

SHAREHOLDERS’ AGREEMENT 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	Definitions	  	 	5	 
			
	 2.
	 	Demand Registration	  	 	18	 
			
	 3.
	 	Piggyback Registrations	  	 	20	 
			
	 4.
	 	Registration Procedures	  	 	22	 
			
	 5.
	 	Registration-Related Indemnification	  	 	25	 
			
	 6.
	 	Additional Registration-Related Undertakings	  	 	27	 
			
	 7.
	 	Preemptive Right	  	 	31	 
			
	 8.
	 	Information and Inspection Rights	  	 	34	 
			
	 9.
	 	Corporate Governance	  	 	35	 
			
	 10.
	 	Protective Provisions	  	 	39	 
			
	 11.
	 	Drag-Along Rights	  	 	45	 
			
	 12.
	 	Additional Covenants	  	 	47	 
			
	 13.
	 	Miscellaneous	  	 	59	 

 SCHEDULES 
 Schedule
1: List of Investors 
 Schedule 2: Address for Notices 

EXHIBIT 
 Exhibit A: Form of Deed of Adherence 

 FIFTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

THIS FIFTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT (this “Agreement”) is entered into on November 10, 2017, by and among: 

 

	(1)	NIO INC. (formerly known as NEXTEV INC.), an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands (the “Company”); 

 

	(2)	NIO NEXTEV LIMITED (formerly known as NEXTEV LIMITED), a limited company duly incorporated and validly existing under the Laws of Hong Kong (the “HK Company”); 

 

	(3)	XPT LIMITED, a limited company duly incorporated and validly existing under the Laws of Hong Kong (the “XPT”); 

  

	(4)	XPT TECHNOLOGY LIMITED, a limited company duly incorporated and validly existing under the Laws of Hong Kong (the “XPT Technology”); 

 

	(5)	XPT, INC., a company duly incorporated and validly existing under the Laws of the State of Delaware, the United States of America (the “XPT US”) 

 

	(6)	NIO CO., LTD. (formerly known as NEXTEV CO., LTD.) (上海蔚来汽车有限公司), a wholly foreign owned enterprise
duly incorporated and validly existing under the Laws of the PRC (“Shanghai Nextev”); 

  

	(7)	SHANGHAI XPT TECHNOLOGY CO., LTD. (上海蔚兰动力科技有限公司), a wholly foreign owned enterprise duly
incorporated and validly existing under the Laws of the PRC (the “Shanghai Weilan”); 

  

	(8)	XPT (JIANGSU) INVESTMENT CO., LTD. (formerly known as XPT INVESTMENT CO., LTD.)
(蔚然(江苏)投资有限公司 ), a wholly foreign owned enterprise duly incorporated and validly existing under the Laws of the PRC (the
“Jiangsu Weiran”); 

  

	(9)	XPT (NANJING) E-POWERTRAIN TECHNOLOGY CO., LTD.
(蔚然(南京)动力科技有限公司 ), a limited liability company duly incorporated and validly
existing under the Laws of the PRC (“XPT Nanjing Technology”); 

  

	(10)	XPT (NANJING) ENERGY STORAGE SYSTEM CO., LTD.
(蔚然(南京)储能技术有限公司), a limited liability company duly incorporated and validly
existing under the Laws of the PRC (“XPT Nanjing Energy”); 

  

	(11)	NIO TECHNOLOGY CO., LTD. (上海蔚来科技有限公司, formerly known as
上海赛睿迪新能源汽车有限公司), a limited liability company duly incorporated and validly existing under the Laws of the PRC
(“NIO Technology”); 

  
 -2- 

	(12)	NEXTEV USER ENTERPRISE LIMITED, a limited company duly incorporated and validly existing under the Laws of Hong Kong (“Nextev User”); 

 

	(13)	SHANGHAI NIO SALES AND SERVICE CO., LTD. (formerly known as SHANGHAI AUTO DISTRIBUTION SERVICE CO., LTD.) (上海蔚来汽车销售服务有限公司), a limited liability company duly incorporated and validly existing under the Laws of the PRC (“Shanghai Auto Distribution”); 

 

	(14)	NEXTEV POWER EXPRESS LIMITED, a limited company duly incorporated and validly existing under the Laws of Hong Kong (“Nextev Power”); 

 

	(15)	NIO ENERGY INVESTMENT (HUBEI) CO., LTD. (formerly known as NEXTEV ENERGY INVESTMENT (HUBEI) CO., LTD.)
(蔚来能源投资(湖北)有限公司), a limited liability company duly incorporated and validly
existing under the Laws of the PRC (“Hubei Investment”); 

  

	(16)	SHANGHAI NIO ENERGY TECHNOLOGY CO., LTD. (formerly known as SHANGHAI NEXTEV ENERGY TECHNOLOGY CO., LTD.) (上海蔚来能源科技有限公司), a limited liability company duly incorporated and validly existing under the Laws of the PRC (“Shanghai Energy”); 

 

	(17)	WUHAN NIO ENERGY CO., LTD. (formerly known as WUHAN NEXTEV ENERGY CO., LTD.) (武汉蔚来能源有限公司), a
limited liability company duly incorporated and validly existing under the Laws of the PRC (“Wuhan Energy”); 

  

	(18)	BEIJING LIBITE AUTO TECHNOLOGY CO., LTD.
(北京力比特汽车科技有限公司 ), a limited liability company incorporated under the Laws of the PRC
(“Beijing Libite”); 

  

	(19)	XTRONICS (NANJING) AUTOMATIVE INTELLIGENT TECHNOLOGY CO. LTD. (蔚隆 (南京
)汽车智能科技有限公司 ), a limited liability company incorporated under the Laws of the PRC (“Nanjing Weilong”); 

 

	(20)	NIO USA, INC. (formerly known as NEXTEV USA, INC.), a company duly incorporated and validly existing under the Laws of the State of California, the United States of America (the “US
Company”). 

  

	(21)	NIO GMBH (formerly known as NEXTEV GMBH), a limited liability company duly incorporated and validly existing under the Laws of Germany (the “German Company”); 

 

	(22)	NIO NEXTEV (UK) LTD (formerly known as NEXTEV (UK) LIMITED), a private company limited by shares duly incorporated and validly existing under the Laws of the United Kingdom (the “UK
Company”); 

  

	(23)	PRIME HUBS LIMITED, a business company with limited liability duly incorporated and validly existing under the Laws of the British Virgin Islands (“Prime Hubs”); 

  
 -3- 

	(24)	MR. LI BIN, a citizen of the PRC whose identification number is 110108197406221836 (the “Founder”); 

  

	(25)	Each of the Persons listed in Part A1 of Schedule 1 (List of Investors) hereto (collectively, the “Series A-1 Investors” and each a “Series A-1 Investor”); 

  

	(26)	Each of the Persons listed in Part A2 of Schedule 1 (List of Investors) hereto (collectively, the “Series A-2 Investors” and each a “Series A-2 Investor”); 

  

	(27)	Each of the Persons listed in Part A3 of Schedule 1 (List of Investors) hereto (collectively, the “Series A-3 Investors” and each a “Series A-3 Investor”); 

  

	(28)	Each of the Persons listed in Part B of Schedule 1 (List of Investors) hereto (collectively, the “Series B Investors” and each a “Series B Investor”); 

 

	(29)	Each of the Persons listed in Part C of Schedule 1 (List of Investors) hereto (collectively, the “Series C Investors” and each a “Series C Investor”); and 

 

	(30)	Each of the Persons listed in Part D of Schedule 1 (List of Investors) hereto (together with any Additional Series D Investors participating in any applicable Additional Closings deemed as “Series D
Investors” in accordance with Section 12.4, collectively, the “Series D Investors” and each a “Series D Investor”). 

Each of the parties listed above shall be referred to herein individually as a “Party” and collectively as the “Parties.”

 Capitalized terms used herein without definition shall have the meanings set forth in the Purchase Agreement (as defined below). 

RECITALS 
  

	(A)	WHEREAS, each of the Series D Investors has agreed to purchase from the Company, and the Company has agreed to sell to each Series D Investor, certain Series D Preferred Shares of the Company, on the term
and conditions set forth in the Series D Preferred Share Purchase Agreement dated November 10, 2017 (as amended and restated and/or supplemented from time to time, the “Purchase Agreement”) by and among the Company, the HK
Company, XPT, XPT Technology, Shanghai Nextev, XPT US, Shanghai Weilan, Jiangsu Weiran, XPT Nanjing Technology, XPT Nanjing Energy, Nanjing Weilong, NIO Technology, Nextev User, Shanghai Auto Distribution, Nextev Power, Hubei Investment, Shanghai
Energy, Wuhan Energy, Beijing Libite, the US Company, the German Company, the UK Company, Prime Hubs, the Founder Vehicles and certain Series D Investors. 

  

	(B)	WHEREAS, the Purchase Agreement provide that it shall be a condition precedent to the consummation of the transactions contemplated under the Purchase Agreement that the Parties have entered into this
Agreement. 

  

	(C)	WHEREAS, the Parties desire to enter into this Agreement and make the respective representations, warranties, covenants and agreements set forth herein on the terms and conditions set forth herein.

  
 -4- 

	(D)	WHEREAS, a Fourth Amended and Restated Shareholders’ Agreement was entered into on March 21, 2017 by and among the Company, the HK Company, XPT, XPT Technology, Shanghai Nextev, Shanghai
Weilan, Jiangsu Weiran, NIO Technology, Beijing Libite, the US Company, the German Company, the UK Company, Prime Hubs, the Founder, the Series A-1 Investors, the Series
A-2 Investors, Series A-3 Investors, certain Series B Investors and certain Series C Investors (together with a Deed of Adherence dated May 31, 2017 by and between
the Company and Blissful Days Holdings Limited, a Deed of Adherence dated May 31, 2017 by and between the Company and Bluefuture Fund L.P., a deed of adherence dated May 31, 2017 by and between the Company and Keen Eagle Capital Investment
Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and Champion Elite Global Limited, a Deed of Adherence dated July 6, 2017 by and between the Company and Tea Leaf Limited, a Deed of Adherence dated
April 24, 2017 by and between the Company and China Investment Asset Management Limited, a Deed of Adherence dated May 31, 2017 by and between the Company and Guangfa Xinde Capital Management Limited, a Deed of Adherence dated
April 24, 2017 by and between the Company and HF Holdings Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and Ultimate Lenovo Limited, a Deed of Adherence dated May 31, 2017 by and between the Company and
China Oceanwide International Asset Management Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and Anderson Investments Pte. Ltd., a Deed of Adherence dated May 31, 2017 by and between the Company and UBS AG,
London Branch, a Deed of Adherence dated April 24, 2017 by and between the Company and Cyber Tycoon Limited, and a Deed of Adherence dated April 24, 2017 by and between the Company and Honor Best International Limited, the
“Prior Shareholders Agreement”). The Parties agree that as of the Initial Closing Date, this Agreement shall supersede the Prior Shareholders Agreement in its entirety, and the Prior Shareholders Agreement shall
terminate and have no further force or effect. 

 WITNESSETH 

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties intending to be legally bound hereto hereby agree as follows: 
  

	1.	DEFINITIONS 

  

	1.1	The following terms shall have the meanings ascribed to them below: 

 “Additional
Closing” and “Additional Closing Date” shall have the meaning ascribed to them in the Purchase Agreement. 

“Additional Series D Investor” shall have the meaning ascribed to it in the Purchase Agreement. 

  
 -5- 

 “Affiliate” means, with respect to a Person, any other Person that, directly or
indirectly, Controls, is Controlled by or is under common Control with such Person (in the case of a Person being a natural person, the “Affiliate” shall include the immediate family members of such Person. For the purpose of this
Agreement, “immediate family members” shall mean parents, mother-in-law or
father-in-law, spouse, brother or sister, brother-in-law or sister-in-law, son-in-law or
daughter-in-law, and children, and any other individual to whom the Person provides material support). In the case of an Investor, if applicable, the term
“Affiliate” also includes (w) any shareholder of such Investor, (x) any of such shareholder’s or such Investor’s general partners, (y) the fund manager managing such shareholder or such Investor (and general
partners and officers thereof) and other funds managed by such fund manager, and (z) trusts controlled by or for the benefit of any such Person referred to in (w), (x) or (y). Notwithstanding anything to the contrary in this Agreement and any
other Series D Transaction Document, with respect to Sequoia or SCC, if applicable, the term “Affiliate” shall (x) only include a variety of entities within the Sequoia China Sector Group that are affiliated with Sequoia by ownership
or operational relationship and engaged in a broad range of activities relating to investing and securities trading; and (y) shall not include any entity that is (i) outside of the Sequoia China Sector Group or (ii) primarily engaged
in investment and trading in the secondary securities market; for purposes of the foregoing, the “Sequoia China Sector Group” means all Sequoia Capital entities (whether currently existing or formed in the
future) that are principally focused on companies located in, or with connections to, the PRC. Notwithstanding anything to the contrary in this Agreement and any other Series D Transaction Document, with respect to Temasek, if applicable, the term
“Affiliate” shall only include (a) Temasek Holdings (Private) Limited (“Temasek Holdings”); and (b) Temasek Holdings’ direct and indirect wholly owned companies whose boards of directors or equivalent
governing bodies comprise solely nominees or employees of (i) Temasek Holdings; (ii) Temasek Pte. Ltd. (being a wholly owned subsidiary of Temasek Holdings); and/or (iii) wholly owned direct and indirect subsidiaries of Temasek Pte.
Ltd. Notwithstanding anything to the contrary in this Agreement and any other Series D Transaction Document, with respect to Tencent, if applicable, the term “Affiliate” shall only include (a) Tencent Holdings Limited
(“Tencent Holdings”); and (b) any Person Controlled by Tencent Holdings. For the avoidance of doubt, any Investor and any holder of Preferred Shares shall not be deemed to be an Affiliate of any Group Company. 

“Applicable Securities Laws” means (i) with respect to any offering of securities in the United States, or any related
act or omission within that jurisdiction, the securities laws of the United States, including the Exchange Act and the Securities Act, and any applicable Law of any state of the United States, and (ii) with respect to any offering of securities
in any jurisdiction other than the United States, or any related act or omission in that jurisdiction, the applicable Laws of that jurisdiction. 

“Benchmark Shares” means, with respect to a holder of Preferred Shares, the number of Preferred Shares held by such holder of
Preferred Shares as of the Initial Closing Date (as converted or reclassified from time to time in accordance with the Memorandum and Articles and this Agreement). 

“Board” or “Board of Directors” means the board of directors of the Company. 

“Business” means the business of the Group Companies, which is research and development, design, manufacturing, and sales of
new energy automobiles (electric cars) and/or the components and accessory products related thereto, the provision of related services, the establishment and operation of charging networks, and other business as may be approved by the Board or the
Shareholders of the Company in accordance with the Memorandum and Articles and this Agreement from time to time. 

  
 -6- 

 “Business Day” means any day that is not a Saturday, Sunday, legal holiday or
other day on which commercial banks are required or authorized by law to be closed in the Cayman Islands, the PRC or Hong Kong. 

“Cause” means, with respect to the Founder or any of the Key Employees, (i) such person’s failure, in the reasonable
judgment of the Board, to substantially perform his or her assigned duties or responsibilities (other than a failure resulting from his or her disability) after written notice thereof from the Board describing the person’s failure to perform
such duties or responsibilities (provided that such person (if he serves as a Director) and any director appointed by the Founder or his Affiliate (if the person with alleged Cause is the Founder) shall abstain from all voting in the Board meetings
or resolutions solely in relation to the judgment of his or her own failure to perform his or her assigned duties or responsibilities); (ii) engaging in knowing and intentional illegal conduct that is or was injurious to any Group Company;
(iii) violation of a PRC law, or a law or regulation of any other jurisdiction, which violation was or is reasonably likely to be injurious to any Group Company; (iv) material breach of any confidentiality agreement, invention assignment
agreement or any other service or employment agreements between the person and the Company or its Affiliates; (v) being convicted of, or entering a plea of nolo contendere to, a felony or committing any act of moral turpitude, dishonesty or
fraud against, or the misappropriation of material property belonging to, any Group Company; (vi) material failure to comply with written policies or rules of the Company or its Affiliates; or (vii) gross negligence or wilful misconduct
detrimental to any Group Company’s interests. 
 “CFC” means a controlled foreign corporation as defined in the Code.

 “Charter Documents” means, with respect to a particular legal entity, the articles of incorporation, certificate of
incorporation, formation or registration (including, if applicable, certificates of change of name), memorandum of association, articles of association, bylaws, articles of organization, certificate of formation, limited liability company agreement,
trust deed, trust instrument, operating agreement, joint venture agreement, business license, or similar or other constitutive, governing, or charter documents, or equivalent documents, of such entity, as amended, supplemented or restated from time
to time. 
 “Closing” shall have the meaning ascribed to it in the Purchase Agreement. 

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

“Commission” means (i) with respect to any offering of securities in the United States, the Securities and Exchange
Commission of the United States or any other federal agency at the time administering the Securities Act, and (ii) with respect to any offering of securities in a jurisdiction other than the United States, the regulatory body of the
jurisdiction with authority to supervise and regulate the offering or sale of securities in that jurisdiction. 

  
 -7- 

 “Competing Business” means the business of design, manufacture and sale of
electric automobiles (电动汽车). 

“Confidential Information” means the terms and conditions of the Series D Transaction Documents, all exhibits and schedules
attached thereto, and information relating to the negotiations therefor. 
 “Consent” means any consent, approval,
authorization, release, waiver, permit, grant, franchise, concession, agreement, license, exemption or order of, registration, certificate, declaration or filing with, or report or notice to, any Person, including any Governmental Authority. 

“Control” of a given Person means the power or authority, whether exercised or not, to direct the business, management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided, that such power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or
power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the board of directors of such Person. The
terms “Controlled” and “Controlling” have meanings correlative to the foregoing. 
 “Conversion
Price” means the results by dividing the Initial Subscription Price Per Share by the then applicable conversion price per applicable Preferred Share. 

“Control Documents” shall have the meaning ascribed to it in the Purchase Agreement. 

“Director” means a director serving on the Board. 

“Director Indemnification Agreement” shall mean the director indemnification agreement, the form of which is approved by the
Board from time to time, which is entered into by the Company and each of the Investor Directors. 
 “Deed of Adherence”
means the deed of adherence substantially in the form attached hereto as Exhibit A. 
 “Equity Securities” means, with
respect to any Person that is a legal entity, any and all shares of capital stock, membership interests, profits interests, ownership interests, equity interests, registered capital, and other equity securities of such Person, and any right,
warrant, option, call, commitment, note, conversion privilege, preemptive right or other right to acquire any of the foregoing, or security convertible into, exchangeable or exercisable for any of the foregoing, or any Contract providing for the
acquisition of any of the foregoing. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended.

 “Form F-3” means Form F-3 promulgated by
the Commission under the Securities Act or any successor form or substantially similar form then in effect. 

  
 -8- 

 “Form S-3” means Form S-3 promulgated by the Commission under the Securities Act or any successor form or substantially similar form then in effect. 

“Founder Vehicles” means, collectively, mobike Global (as defined in Schedule 1) and Originalwish (as defined in Schedule 1).

 “Governmental Authority” means any government of any nation or any federation, province or state or any other political
subdivision thereof, any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any government authority, agency, department, board, commission or
instrumentality of any country, or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organization. 

“Governmental Order” means any applicable order, ruling, decision, verdict, decree, writ, subpoena, mandate, precept, command,
directive, consent, approval, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Authority. 

“Group Company” means each of the Company and its Subsidiaries (including the HK Company, XPT, XPT Technology, XPT US,
Shanghai Nextev, Shanghai Weilan, Jiangsu Weiran, XPT Nanjing Technology, XPT Nanjing Energy, Nanjing Weilong, NIO Technology, Nextev User, Shanghai Auto Distribution, Nextev Power, Hubei Investment, Shanghai Energy, Wuhan Energy Beijing Libite, US
Company, German Company, UK Company, other Subsidiaries set out on Schedule III of the Purchase Agreement, and other Subsidiaries to be established from time to time), and “Group” or “Group Companies” refers to all
of Group Companies collectively. 
 “Holders” means the holders of Registrable Securities who are parties to this Agreement
from time to time, and their permitted transferees that become parties to this Agreement from time to time. 
 “Hong Kong”
means the Hong Kong Special Administrative Region, the People’s Republic of China. 
 “Initial Closing” and
“Initial Closing Date” shall have the meaning ascribed to them in the Purchase Agreement. 
 “Initiating
Holders” means, with respect to a request duly made under Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2
(Registration on Form F-3 or Form S-3) to Register any Registrable Securities, the Holders initiating such request. 

“Investors” means collectively the Series A-1 Investors, Series A-2 Investors, Series A-3 Investors, Series B Investors, Series C Investors and Series D Investors, and “Investor” means each or any of them. 

“Investor Restrictive Investment Cutoff Date” means (1) with respect to each of Hillhouse NEV Holdings Limited and
Shunwei, March 18, 2017, (2) with respect to Tencent, May 6, 2017, (3) with respect to Smart Group, June 23, 2017, (4) with respect to each of Sequoia and Joy Capital, September 12, 2017, (5) with respect to Padmasree,
March 10, 2018, (6) with respect to each Founder Vehicle, March 18, 2018, and (8) with respect to Energy, May 6, 2018. 

  
 -9- 

 “Investor Restrictive Investment Period” means, with respect to each Series A
Investor, the period of time until the Investor Restrictive Investment Cutoff Date applicable to such Series A Investor. For the avoidance of doubt, the Investor Restrictive Investment Period shall also be applicable to the Affiliates of such Series
A Investor (of Investment Affiliates of such Investor in case of Hillhouse NEV Holdings Limited or Shunwei). 
 “IPO” means
an initial public offering of Shares on an internationally recognized stock exchange. 
 “Law” or “Laws”
means any and all provisions of any applicable constitution, treaty, statute, law, regulation, ordinance, code, rule, or rule of common law, any governmental approval, or other governmental restriction or any similar form of decision of, or
determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority, in each case as amended, and any and all applicable Governmental Orders. 

“Lien” means any claim, charge, easement, encumbrance, lease, covenant, security interest, lien, option, pledge, mortgage,
rights of others, or restriction (whether on voting, sale, transfer, disposition or otherwise), whether imposed by contract, understanding, law, equity or otherwise. 

“Loan and Security Agreement” means the Loan and Security Agreement dated March 10, 2016 by and between the Company and
Padmasree, pursuant to which the Company provided a loan to Padmasree, and Padmasree pledged to the Company and granted to the Company a first-priority lien on 7,509,933 Series A-3 Preferred Shares held by
Padmasree. 
 “Majority Ordinary Holders” means the holders of at least 75% of the voting power of the then outstanding
Ordinary Shares. 
 “Majority Preferred Holders” means the holders of at least 75% of the voting power of the then
outstanding Preferred Shares (voting together as a single class and calculated on an as-converted basis). 

“Material Group Subsidiaries” means collectively HK Company, XPT, Nextev User, Nextev Power, the US Company, the German
Company, NIO Technology, Shanghai Auto Distribution, Hubei Investment, Shanghai Weilan, Jiangsu Weiran and Shanghai Nextev. 

“Memorandum and Articles” means the Tenth Amended and Restated Memorandum of Association of the Company and the Ninth Amended
and Restated Articles of Association of the Company, adopted in accordance with applicable Law on or prior to the Initial Closing (as amended and restated from time to time in accordance with the articles thereto and the provisions of this
Agreement), which shall be in the form and substance satisfactory to the Investors. 

  
 -10- 

 “Ordinary Holders” means Prime Hubs and any Person who will directly or
indirectly hold any Ordinary Shares of the Company (other than the Investors), and each an “Ordinary Holder”. 

“Ordinary Share Equivalents” means any Equity Security which is by its terms convertible into or exchangeable or exercisable
for Ordinary Shares or other share capital of the Company, including without limitation, the Preferred Shares. 
 “Ordinary
Shares” means the Company’s ordinary shares, par value US$0.00025 per share. 
 “Person” means any individual,
natural person, corporation, partnership, limited partnership, proprietorship, association, limited liability company, firm, trust, estate or other enterprise or entity. 

“PFIC” means passive foreign investment company as defined in the Code. 

“PLN” means a note instrument issued by UBS or its Affiliates on or about the date of this Agreement that transfers, or has
the effect of transferring, to any Person, in whole or in part, all or any of the economic benefits, interests, risks or other consequences of ownership of the Series C Preferred Shares (or Ordinary Shares into which the Series C Preferred Shares
convert), including any agreements in respect thereof, the form of which has been previously provided to the Company for its review. 

“PLN Beneficiary” means an investor in or purchaser of (or bona fide prospective investor in or purchaser of) a PLN, including
where such investor or purchaser invests in or purchases the PLN by way of PLN Transfer. 
 PLN Transfer means a transfer, assignment,
novation, sale or other disposition (in all cases whether voluntary or involuntary, direct or indirect) of a PLN by a PLN Beneficiary to any other Person (whether in whole or in part). 

“PRC” means the People’s Republic of China, but solely for the purposes of this Agreement, excluding Hong Kong Special
Administrative Region of the PRC, Macau Special Administrative Region of the PRC and Taiwan. 
 “PRC Accounting Standards”
means the China Accounting Standards (CAS 2006) issued by the PRC Ministry of Finance on February 15, 2006, as supplemented by relevant rules and guidelines issued from time to time, and other applicable PRC accounting regulations. 

“Preferred Shares” means, collectively, the Series A-1 Preferred Shares, the Series A-2 Preferred Shares, the Series A-3 Preferred Shares, the Series B Preferred Shares, the Series C Preferred shares and/or the Series D Preferred Shares. 

“Public Official” means any executive, official, or employee of a Governmental Authority, political party or member of a
political party, political candidate; executive, employee or officer of a public international organization; or director, officer or employee or agent of a wholly owned or partially state-owned or controlled enterprise, including a PRC state-owned
or controlled enterprise. 

  
 -11- 

 “Qualified IPO” means a firm commitment underwritten registered initial public
offering by the Company of its Ordinary Shares (or securities of the Company representing the Ordinary Shares) on Hong Kong Stock Exchange, Nasdaq, New York Stock Exchange or other internationally recognized stock exchange, as approved by the
Majority Preferred Holders, pursuant to a registration statement (or any analogous document, if applicable) that is filed with and declared effective in accordance with the securities laws of relevant jurisdiction, at a public offering price (prior
to customary underwriters’ commissions and expenses) that values the Company at least US$6 billion on a fully diluted basis immediately prior to the completion of such offering, with gross proceeds to the Company in excess of
US$1 billion, or otherwise approved by the Majority Preferred Holders. 
 “Registrable Securities” means (i) the
Ordinary Shares issued or issuable upon conversion of the Preferred Shares, (ii) any Ordinary Shares of the Company issued as a dividend or other distribution with respect to, in exchange for, or in replacement of, the shares referenced in
(i) herein, and (iii) any Ordinary Shares owned or hereafter acquired by the Investors; excluding in all cases, however, any of the foregoing sold by a Person in a transaction other than an assignment pursuant to Section 13.4
(Assignments and Transfers; No Third Party Beneficiaries). For purposes of this Agreement, Registrable Securities shall cease to be Registrable Securities when such Registrable Securities have been disposed of pursuant to an effective
Registration Statement. 
 “Registration” means a registration effected by preparing and filing a Registration Statement and
the declaration or ordering of the effectiveness of that Registration Statement; and the terms “Register” and “Registered” have meanings concomitant with the foregoing. 

“Registration Statement” means a registration statement prepared on Form F-1, F-3, S-1, or S-3 under the Securities Act (including, without limitation, Rule 415 under the Securities Act), or on any comparable form
in connection with registration in a jurisdiction other than the United States. 
 “Right of First Refusal & Co-Sale Agreement” means the Fifth Amended and Restated Right of First Refusal & Co-Sale Agreement entered into by and among the Company, Prime Hubs,
Founder, the Series A-1 Investors, the Series A-2 Investors, the Series A-3 Investors, the Series B Investors, the Series C
Investors and the Series D Investors on or prior to the Initial Closing, as amended and restated from time to time. 
 “RMB”
means the lawful currency of the PRC. 
 “Securities Act” means the United States Securities Act of 1933, as amended. 

“Series A Investors” means collectively, the Series A-1 Investors, the Series A-2 Investors, and the Series A-3 Investors. 
 “Series A-1 Preferred Shares” means the series A-1 preferred shares of the Company, par value US$0.00025 per share, with the rights and privileges as set forth in this
Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

  
 -12- 

 “Series A-2 Preferred Shares” means the
series A-2 preferred shares of the Company, par value US$0.00025 per share, with the rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal &
Co-Sale Agreement. 
 “Series A-3 Preferred
Shares” means the series A-3 preferred shares of the Company, par value US$0.00025 per share, with the rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right
of First Refusal & Co-Sale Agreement. 
 “Series A Preferred Shares” means
collectively, the Series A-1 Preferred Shares, the Series A-2 Preferred Shares and/or the Series A-3 Preferred Shares. 

“Series B Preferred Shares” means the series B preferred shares of the Company, par value US$0.00025 per share, with the
rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

“Series C Preferred Shares” means the series C preferred shares of the Company, par value US$0.00025 per share, with the
rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

“Series D Preferred Shares” means the series D preferred shares of the Company, par value US$0.00025 per share, with the
rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

“Series D Transaction Documents” has the meaning set forth in the Purchase Agreement. 

“Shareholders” means the holders of the Ordinary Shares, the holders of the Series A Preferred Shares, the holders of the
Series B Preferred Shares, the holders of the Series C Preferred Shares and the holders of the Series D Preferred Shares, and any Person who will hold any shares of the Company from time to time, and each a “Shareholder.” 

“Shares” means the Ordinary Shares, the Series A Preferred Shares, the Series B Preferred Shares, the Series C Preferred
Shares, the Series D Preferred Shares and other outstanding shares in the capital of the Company. 
 “Stock Incentive Plans”
means (i) the 2015 Stock Incentive Plan and the 2016 Stock Incentive Plan of the Company, which set forth the rules for the grant of stock options, restricted shares and other awards to the employees, directors and consultants of the Group
Companies (both U.S. citizens or non-U.S. citizens), (ii) the 2015 Stock Incentive Plan U.S. CEO Subplan, which sets forth the rules for the grant of stock options, restricted shares and other awards to the
chief executive officer of the US Company, and (iii) any other stock option plans or equity incentive plans as may be adopted by the Company in accordance with the Memorandum and Articles and this Agreement. 

  
 -13- 

 “Subsidiary” means, with respect to any given Person, any other Person that is
Controlled directly or indirectly by such given Person. 
 “Tencent ” means, collectively, Image Frame, Mount Putuo,
Morespark and any other Affiliate of Tencent, to the extent that it holds any Preferred Shares and/or Ordinary Shares. 
 “Tencent
Consortium” means, collectively, Tencent and Hammer Capital. 
 “Trade Sale” means any the following events: 

 

	 	(1)	any consolidation, merger, amalgamation, or other business combination or corporate reorganization of the Company (and/or other Group Company(ies) collectively operating majority of the Business, collectively, the
“Major Group Companies”) with or into any Person (collectively, the “Restructuring Event”), resulting in a change in ownership or control of the Company and/or the Major Group Companies in which the
Shareholders holding securities with voting power in the Company and/or the Major Group Companies (as the case may be) immediately before such Restructuring Event own and control shares and securities representing less than fifty percent (50%) of
the total combined voting power of the outstanding share capital of the surviving business entity immediately after such Restructuring Event, except that the Company’s ultimate shareholding structure immediately after such Restructuring Event
is the same as that immediately before such Restructuring Event; or 

  

	 	(2)	a sale, transfer, exclusive license, lease or other disposition of all or substantially all of the assets (including Intellectual Property) of the Group Companies (or any series of related transactions resulting in such
sale, transfer, exclusive license, lease or other disposition of all or substantially all of the assets of the Group Companies) except that such transferee, licensee or lessee’s ultimate shareholding structure immediately after such event is
the same as that of the Company immediately before such event; or 

  

	 	(3)	a sale, transfer or other disposition of a majority of the issued and outstanding share capital or securities possessing more than fifty percent (50%) of the total combined voting power of the Company and/or of the
Major Group Companies, except that such transferee’s ultimate shareholding structure immediately after such event is the same as that of the Company immediately before such event. 

“U.S.” means the United States of America. 

“United States Person” means United States person as defined in Section 7701(a)(30) of the Code. 

“US GAAP” means U.S. generally accepted accounting principles. 

  
 -14- 

 “Warrantor” means Company, the HK Company, XPT, XPT Technology, XPT US, the US
Company, the German Company, the UK Company, Shanghai Nextev, Shanghai Weilan, Jiangsu Weiran, XPT Nanjing Technology, XPT Nanjing Energy, Nanjing Weilong, NIO Technology, Nextev User, Shanghai Auto Distribution, Nextev Power, Hubei Investment,
Shanghai Energy, Wuhan Energy, Beijing Libite, the Founder Vehicles and Prime Hubs, collectively, the “Warrantors.” 
  

	1.2	Other Defined Terms 

 The following terms shall have the meanings defined for such terms
in the Sections set forth below: 
  

			
	Additional Number	  	Section 7.4 (ii)
	Agreement	  	Preamble
	Approved Sale	  	Section 11.1
	Arbitration Notice	  	Section 13.6 (i)
	Baidu Capital	  	Schedule I
	Beijing Libite	  	Preamble
	Bluestone	  	Schedule I
	Bright Sky	  	Schedule I
	ChinaEquity	  	Schedule I
	Company	  	Preamble
	Company Opportunity	  	Section 12.15 (iii)
	Corporate Opportunity	  	Section 12.15 (iii)
	Direct US Investor	  	Section 12.7 (iii)
	Disclosing Party	  	Section 12.9 (iii)
	Dispute	  	Section 13.6 (i)
	Dissenting Member	  	Section 11.4
	Energy	  	Schedule I
	Exclusive Option Period	  	Section 7.6
	Exempted Securities	  	Section 7.3
	Exempt Registrations	  	Section 3.4
	First Participation Notice	  	Section 7.4 (i)
	Founder	  	Preamble
	Four Vote	  	Section 9.1(i)
	German Company	  	Preamble
	Golden Brick	  	Schedule I
	Grandfield	  	Schedule I
	Haixia	  	Schedule I
	Haitong	  	Schedule I
	Hammer Capital	  	Schedule I
	HK Company	  	Preamble
	HKIAC	  	Section 13.6 (ii)
	HKIAC Rules	  	Section 13.6 (ii)
	Hillhouse	  	Schedule I
	Honor Best	  	Schedule I
	Hubei Investment	  	Preamble
	IDG	  	Schedule I
	Jiangsu Weiran	  	Preamble
	Image Frame	  	Schedule I

  
 -15- 

			
	Indirect US Investor	  	Section 12.7 (iii)
	Investor/ Investors	  	Preamble
	Investor Directors	  	Section 9.1(i)
	Investment Affiliates	  	Section 12.15
	Joy Capital	  	Schedule I
	Lenovo	  	Schedule I
	Long Winner	  	Schedule I
	Magic Stone	  	Schedule I
	mobike Global	  	Schedule I
	Mount Putuo	  	Schedule I
	Morespark	  	Schedule I
	Nanjing Weilong	  	Preamble
	New Financing	  	Section 7.6
	New Financing Notice	  	Section 7.6
	New Margin Capital	  	Schedule I
	New Securities	  	Section 7.3
	Nextev User	  	Preamble
	Nextev Power	  	Preamble
	NIO Technology	  	Preamble
	Ordinary Director	  	Section 9.1(i)
	Orient Hontai	  	Schedule I
	Offer Price	  	Section 11.1
	Originalwish	  	Schedule I
	Oversubscription Participants	  	Section 7.4 (ii)
	Padmasree	  	Schedule I
	Party/ Parties	  	Preamble
	Palace	  	Schedule I
	PFIC Annual Information Statement	  	Section 12.7(iii)
	PFIC Shareholder	  	Section 12.7 (iii)
	Preemptive Notice	  	Section 7.4 (i)
	Preemptive Right	  	Section 7.1
	Preemptive Rights Holder	  	Section 7.1
	Prior Shareholders Agreement	  	Recitals
	Pro Rata Share	  	Section 7.2
	Proposed Cooperation	  	Section 12.16
	Prime Hubs	  	Preamble
	Purchase Agreement	  	Recitals
	Remaining Members	  	Section 11.2
	Second Participation Notice	  	Section 7.4 (ii)
	Second Participation Period	  	Section 7.4 (ii)
	Sequoia	  	Schedule I
	SCC	  	Schedule I
	Series A-1 Investor / Series A-1 Investors	  	Preamble
	Series A-2 Investor / Series A-2 Investors	  	Preamble
	Series A-3 Investor / Series A-3 Investors	  	Preamble
	Series B Investor / Series B Investors	  	Preamble
	Series C Investor / Series C Investors	  	Preamble
	Series D Investor / Series D Investors	  	Preamble
	Smart Group	  	Schedule I

  
 -16- 

			
	Shanghai Auto Distribution	  	Preamble
	Shanghai Energy	  	Preamble
	Shanghai Nextev	  	Preamble
	Shanghai Weilan	  	Preamble
	Shunwei	  	Schedule I
	Special Cooperation Right	  	Section 12.16
	Subsidiary Board	  	Section 9.1 (ii)
	Temasek	  	Schedule I
	Tencent Director	  	Section 9.1 (i)
	Tencent Shareholding Threshold	  	Section 9.1 (i)
	Total Prestige	  	Schedule I
	TPG	  	Schedule I
	Violation	  	Section 5.1 (i)
	UBS	  	Section 13.1(i)(1)
	UK Company	  	Preamble
	US Company	  	Preamble
	West City	  	Schedule I
	WP	  	Schedule I
	Wuhan Energy	  	Preamble
	XPT	  	Preamble
	XPT Nanjing Energy	  	Preamble
	XPT Nanjing Technology	  	Preamble
	XPT Technology	  	Preamble
	Zhide	  	Schedule I

  

	1.3	Interpretation 

 For all purposes of this Agreement, except as otherwise expressly herein
provided, (i) the terms defined in this Section 1 shall have the meanings assigned to them in this Section 1 and include the plural as well as the singular, (ii) all accounting terms not otherwise defined herein have the meanings
assigned under the US GAAP, (iii) all references in this Agreement to designated “Sections” and other subdivisions are to the designated Sections and other subdivisions of the body of this Agreement, (iv) pronouns of either
gender or neuter shall include, as appropriate, the other pronoun forms, (v) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any
particular Section or other subdivision, (vi) all references in this Agreement to designated Schedules, Exhibits and Appendices are to the Schedules, Exhibits and Appendices attached to this Agreement, (vii) references to this Agreement,
any other Series D Transaction Documents and any other document shall be construed as references to such document as the same may be amended, supplemented or novated from time to time, (viii) the term “or” is not exclusive, (ix) the
term “including” will be deemed to be followed by “, but not limited to,” (x) the terms “shall”, “will”, and “agrees” are mandatory, and the term “may” is permissive, (xi) the phrase
“directly or indirectly” means directly, or indirectly through one or more intermediate Persons or through contractual or other arrangements, and “direct or indirect” has the correlative meaning, (xii) the expression
“Investor” and “Investors” shall, unless the context prohibits, include its respective successors, permitted transferees and assigns and any Persons deriving title under it, (xiii) the term “voting power” refers to
the number of votes attributable to the Shares (on an as-converted basis) in accordance with the terms of the Memorandum and Articles, (xiv) the headings used in this Agreement are used for convenience
only and are not to be considered in construing or interpreting this Agreement, (xv) references to laws include any such law modifying, re-enacting, extending or made pursuant to the same or which is
modified, re-enacted, or extended by the same or pursuant to which the same is made, and (xvi) all references to dollars or to “US$” are to currency of the U.S. and all references to RMB are to
currency of the PRC (and each shall be deemed to include reference to the equivalent amount in other currencies). 

  
 -17- 

	2.	DEMAND REGISTRATION 

  

	2.1	Registration Other Than on Form F-3 or Form S-3 

Subject to the terms of this Agreement, at any time or from time to time after the earlier of (i) July 21, 2021, or (ii) expiry
of one hundred eighty (180) days following the effective date of a registration statement for an IPO, Holders holding ten percent (10%) or more of the voting power of the then outstanding Registrable Securities held by all Holders are entitled
to request in writing that the Company effect a Registration for any or all of Initiating Holder’s Registrable Securities. Upon receipt of such a request, the Company shall (x) promptly give written notice of the proposed Registration to
all other Holders and (y) as soon as practicable, use its reasonable best efforts to cause the Registrable Securities specified in the request, together with any Registrable Securities of any Holder who requests in writing to join such
Registration within fifteen (15) days after the Company’s delivery of written notice, to be Registered and/or qualified for sale and distribution in such jurisdiction as the Initiating Holders may request. The Company shall not be
obligated to effect more than two (2) Registrations pursuant to this Section 2.1(Registration Other Than on Form F-3 or Form S-3) hereof
that have been declared and ordered effective; provided that if the sale of all of the Registrable Securities sought to be included pursuant to this Section 2.1 (Registration Other Than on Form
F-3 or Form S-3) hereof is not consummated for any reason other than due to the action or inaction of the Holders including Registrable Securities in such
Registration, such Registration shall not be deemed to constitute one of the Registration rights granted pursuant to Section 2.1 hereof. 
  

	2.2	Registration on Form F-3 or Form S-3 

The Company shall use its best efforts to qualify for registration on Form F-3 or Form S-3. Subject to the terms of this Agreement, if the Company qualifies for registration on Form F-3 or Form S-3 (or any comparable form
for Registration in a jurisdiction other than the United States), any Holder is entitled to request the Company to file, in any jurisdiction in which the Company has had a registered underwritten public offering, unlimited number of Registration
Statements on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United States), so long as such registration offerings are
in excess of US$5,000,000, including without limitation any registration statements filed under the Securities Act providing for the registration of, and the sale on a continuous or a delayed basis by the Holders of, all of the Registrable
Securities pursuant to Rule 415 under the Securities Act and/or any similar rule that may be adopted by the Commission. Upon receipt of such a request, the Company shall (i) promptly give written notice of the proposed Registration to all other
Holders and (ii) as soon as practicable, cause the Registrable Securities specified in the request, together with any Registrable Securities of any Holder who requests in writing to join such Registration within fifteen (15) days after the
Company’s delivery of written notice, to be Registered and qualified for sale and distribution in such jurisdiction. 

  
 -18- 

	2.3	Right of Deferral 

  

	 	(i)	The Company shall not be obligated to Register or qualify Registrable Securities pursuant to this Section 2: 

  

	 	(1)	during the period starting with the date of filing by the Company of, and ending six (6) months following the effective date of any Registration Statement pertaining to Ordinary Shares of the Company other than an
Exempt Registration; provided that the Holders are entitled to join such Registration in accordance with Section 3 (Piggyback Registrations); 

  

	 	(2)	in any jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such Registration or qualification, unless the Company is already subject to service of process
in such jurisdiction; or 

  

	 	(3)	with respect to the registration on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United
States), if Form F-3 is not available for such offering by the Holders. 

  

	 	(ii)	If, after receiving a request from Holders pursuant to Section 2.1(Registration Other Than on Form F-3 or Form S-3) or
Section 2.2 (Registration on Form F-3 or Form S-3) hereof, the Company furnishes to the Holders a certificate signed by the chief executive officer of the
Company stating that, in the good faith judgment of the Board, it would be materially detrimental to the Company or its members for a Registration Statement to be filed in the near future, then the Company shall have the right to defer such filing
for a period during which such filing would be materially detrimental, provided that the Company may not utilize this right (x) for a Registration under Section 2.1 (Registration Other Than on Form
F-3 or Form S-3) for more than ninety (90) days and (y) for a Registration under Section 2.2 (Registration on Form
F-3 or Form S-3) for more than sixty (60) days, on any one occasion or more than once during any twelve (12) month period; provided
further that the Company may not Register any other of its Equity Securities during such period (except for Exempt Registrations). 

  
 -19- 

	2.4	Underwritten Offerings 

 If, in connection with a request to Register Registrable
Securities under Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2 (Registration on Form F-3 or Form S-3), the Initiating Holders seek to distribute such Registrable Securities in an underwritten offering, they shall so advise the Company as a part of
the request, and the Company shall include such information in the written notice to the other Holders described in Section 2.1 (Registration Other Than on Form F-3 or Form S-3) and Section 2.2 (Registration on Form F-3 or Form S-3). In such event, the right of any Holder to include its
Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in such underwritten offering and the inclusion of such Holder’s Registrable Securities in the underwritten offering (unless otherwise
mutually agreed by the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwritten offering shall enter into an underwriting agreement in customary form with the
underwriter or underwriters of internationally recognized standing selected for such underwritten offering by the Company and reasonably acceptable to the holders of a majority of the voting power of all Registrable Securities proposed to be
included in such Registration. Notwithstanding any other provision of this Agreement, if the managing underwriter advises the Company that marketing factors (including without limitation the aggregate number of securities requested to be Registered,
the general condition of the market, and the status of the Persons proposing to sell securities pursuant to the Registration) require a limitation of the number of Registrable Securities to be underwritten in a Registration pursuant to
Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2 (Registration on Form F-3
or Form S-3), the underwriters may exclude up to seventy-five percent (75%) of the Registrable Securities requested to be Registered but only after first excluding all other Equity Securities from
the Registration and underwritten offering, provided that the number of shares to be included in the Registration on behalf of the non-excluded Holders is allocated among all Holders in
proportion, as nearly as practicable, to the respective amounts of Registrable Securities requested by such Holders to be included. If any Holder disapproves the terms of any underwriting, the Holder may elect to withdraw therefrom by written notice
to the Company and the underwriters delivered at least ten (10) days prior to the effective date of the Registration Statement. Any Registrable Securities excluded or withdrawn from such underwritten offering shall be withdrawn from the
Registration. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to a Holder to the nearest one hundred (100) shares. 

 

	3.	PIGGYBACK REGISTRATIONS 

  

	3.1	Registration of the Company’s Securities 

 Subject to the terms of this Agreement,
if the Company proposes to Register for its own account any of its Equity Securities, or for the account of any holder (other than a Holder) of Equity Securities any of such holder’s Equity Securities, in connection with the public offering of
such securities (except for Exempt Registrations), the Company shall promptly give each Holder written notice of such Registration and, upon the written request of any Holder given within fifteen (15) days after delivery of such notice, the
Company shall include in such Registration any Registrable Securities thereby requested to be Registered by such Holder. If a Holder decides not to include all or any of its Registrable Securities in such Registration by the Company, such Holder
shall nevertheless continue to have the right to include any Registrable Securities in any subsequent Registration Statement or Registration Statements as may be filed by the Company, all upon the terms and conditions set forth herein. 

  
 -20- 

	3.2	Right to Terminate Registration 

 The Company shall have the right to terminate or
withdraw any Registration initiated by it under Section 3.1 prior to the effectiveness of such Registration, whether or not any Holder has elected to participate therein. The expenses of such withdrawn Registration shall be borne by the Company
in accordance with Section 4.3. 
  

	3.3	Underwriting Requirements 

  

	 	(i)	In connection with any offering involving an underwriting of the Company’s Equity Securities, the Company shall not be required to Register the Registrable Securities of a Holder under this Section 3
(Piggyback Registrations) unless such Holder’s Registrable Securities are included in the underwritten offering and such Holder enters into an underwriting agreement in customary form with the underwriter or underwriters of
internationally recognized standing selected by the Company and setting forth such terms for the underwritten offering as have been agreed upon between the Company and the underwriters. In the event the underwriters advise Holders seeking
Registration of Registrable Securities pursuant to this Section 3 in writing that market factors (including the aggregate number of Registrable Securities requested to be Registered, the general condition of the market, and the status of the
Persons proposing to sell securities pursuant to the Registration) require a limitation of the number of Registrable Securities to be underwritten, the underwriters may exclude up to seventy-five percent (75%) of the Registrable Securities requested
to be Registered but only after first excluding all other Equity Securities (except for securities sold for the account of the Company) from the Registration and underwriting, provided that the number of shares to be included in the
Registration on behalf of the non-excluded Holders is allocated among all Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities requested by such Holders to be
included. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to a Holder to the nearest one hundred (100) shares. 

 

	 	(ii)	If any Holder disapproves the terms of any underwriting, the Holder may elect to withdraw therefrom by written notice to the Company and the underwriters delivered at least ten (10) days prior to the effective date
of the Registration Statement. Any Registrable Securities excluded or withdrawn from the underwritten offering shall be withdrawn from the Registration. 

  

	3.4	Exempt Registrations 

 The Company shall have no obligation to Register any Registrable
Securities under this Section 3 in connection with a Registration by the Company (i) relating solely to the sale of securities to participants in a share incentive plan of the Company, or (ii) relating to a corporate reorganization or
other transaction under Rule 145 of the Securities Act (or comparable provision under the Laws of another jurisdiction, as applicable) (collectively, “Exempt Registrations”). 

  
 -21- 

	4.	REGISTRATION PROCEDURES 

  

	4.1	Registration Procedures and Obligations 

 Whenever required under this Agreement to
effect the Registration of any Registrable Securities held by the Holders, the Company shall, as expeditiously as reasonably possible: 
  

	 	(i)	Prepare and file with the Commission a Registration Statement with respect to those Registrable Securities and use its reasonable best efforts to cause that Registration Statement to become effective, and, upon the
request of the Holders holding a majority in voting power of the Registrable Securities Registered thereunder, keep the Registration Statement effective until the distribution thereunder has been completed; 

 

	 	(ii)	Prepare and file with the Commission amendments and supplements to that Registration Statement and the prospectus used in connection with the Registration Statement as may be necessary to comply with the provisions of
Applicable Securities Laws with respect to the disposition of all securities covered by the Registration Statement; 

  

	 	(iii)	Furnish to the Holders the number of copies of a prospectus, including a preliminary prospectus, required by Applicable Securities Laws, and any other documents as they may reasonably request in order to facilitate the
disposition of Registrable Securities owned by them; 

  

	 	(iv)	Use its reasonable best efforts to Register and qualify the securities covered by the Registration Statement under the securities Laws of any jurisdiction, as reasonably requested by the Holders, provided, that
the Company shall not be required to qualify to do business or file a general consent to service of process in any such jurisdictions; 

  

	 	(v)	In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in customary form, with the managing underwriter(s) of the offering; 

 

	 	(vi)	Promptly notify each Holder of Registrable Securities covered by the Registration Statement at any time when a prospectus relating thereto is required to be delivered under Applicable Securities Laws of (a) the
issuance of any stop order by the Commission, or (b) the happening of any event or the existence of any condition as a result of which any prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances under which they were made, or if in the opinion of counsel for the Company it
is necessary to supplement or amend such prospectus to comply with law, and at the request of any such Holder promptly prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be
necessary so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances under which they were made or such prospectus, as supplemented or amended, shall comply with law; 

  
 -22- 

	 	(vii)	Furnish, at the request of any Holder requesting Registration of Registrable Securities pursuant to this Agreement, on the date that such Registrable Securities are delivered for sale in connection with a Registration
pursuant to this Agreement, (A) an opinion, dated the date of the sale, of the counsel representing the Company for the purposes of the Registration, in form and substance as is customarily given to underwriters in an underwritten public
offering; and (B) comfort letters dated as of (x) the effective date of the registration statement covering such Registrable Securities, and (y) the closing date of the offering, from the independent certified public accountants of
the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters; 

 

	 	(viii)	Otherwise comply with all applicable rules and regulations of the Commission to the extent applicable to the applicable registration statement and use its reasonable best efforts to make generally available to its
security holders (or otherwise provide in accordance with Section 11(a) of the Securities Act) an earnings statement satisfying the provisions of Section 11(a) of the Securities Act, no later than forty-five (45) days after the end of
a twelve (12) month period (or ninety (90) days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of such registration statement, which statement
shall cover such twelve (12) month period, subject to any proper and necessary extensions; 

  

	 	(ix)	Not, without the written consent of the holders of at least two thirds of voting power of the then outstanding Registrable Securities, make any offer relating to the Securities that would constitute a “free writing
prospectus,” as defined in Rule 405 promulgated under the Securities Act; 

  

	 	(x)	Provide a transfer agent and registrar for all Registrable Securities Registered pursuant to the Registration Statement and, where applicable, a number assigned by the Committee on Uniform Securities Identification
Procedures for all those Registrable Securities, in each case not later than the effective date of the Registration; and 

  

	 	(xi)	Take all reasonable action necessary to list the Registrable Securities on the primary exchange on which the Company’s securities are then traded or, in connection with a Qualified IPO, the primary exchange on
which the Company’s securities will be traded. 

  

	 	(xii)	Permit any Holder which, in such Holder’s sole and exclusive judgment, might be deemed to be an underwriter or a “controlling person” (within the meaning of Section 15 of the Securities Act and
Section 20 of the Exchange Act) of the Company, to participate in the preparation of the Registration Statement, and to require the insertion therein of language, furnished to the Company in writing, which in the reasonable judgment of such
Holder and its counsel should be included. 

  
 -23- 

	4.2	Information from Holder 

 It shall be a condition precedent to the obligations of the
Company to take any action pursuant to Section 2 (Demand Registration) and Section 3 (Piggyback Registrations) hereof with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the
Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be required to effect the Registration of such Holder’s Registrable Securities. 

 

	4.3	Expenses of Registration 

 All expenses, other than the underwriting discounts and
selling commissions applicable to the sale of Registrable Securities pursuant to this Agreement (which shall be borne by the Holders requesting Registration on a pro rata basis in proportion to their respective numbers of Registrable Securities sold
in such Registration), incurred in connection with Registrations, filings or qualifications pursuant to this Agreement, including (without limitation) all Registration, filing and qualification fees, printers’ and accounting fees, fees and
disbursements of counsel for the Company and fees and disbursement of counsels for the selling Holders, shall be borne by the Company. The Company shall not, however, be required to pay for any expenses of any Registration proceeding begun pursuant
to Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2 (Registration on Form
F-3 or Form S-3) of this Agreement if the Registration request is subsequently withdrawn at the request of the Holders holding a majority of the voting power of the
Registrable Securities requested to be Registered by all Holder in such Registration (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be thereby Registered in the
withdrawn Registration) unless the Holders of at least two thirds ( 2⁄3) of the voting power of the Registrable Securities then outstanding agree that such
registration constitutes the use by the Holders of one (1) demand registration pursuant to Section 2.1 (Registration Other Than on Form F-3 or Form
S-3) (in which case such registration shall also constitute the use by all Holders of Registrable Securities of one (1) such demand registration); provided, however, that if at the time of such
withdrawal, the Holders have learned of a material adverse change in the condition, business or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness following
disclosure by the Company of such material adverse change, then the Holders shall not be required to pay any of such expenses and the Company shall pay any and all such expenses. 

  
 -24- 

	5.	REGISTRATION-RELATED INDEMNIFICATION. 

  

	5.1	Company Indemnity 

  

	 	(i)	To the maximum extent permitted by Law, the Company will indemnify and hold harmless each Holder, such Holder’s partners, officers, directors, shareholders, members, and legal counsel, any underwriter (as defined
in the Securities Act) and each Person, if any, who controls (as defined in the Securities Act) such Holder or underwriter, against any losses, claims, damages or liabilities (joint or several) to which they may become subject under Laws which are
applicable to the Company and relate to action or inaction required of the Company in connection with any Registration, qualification, or compliance, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out
of or are based upon any of the following statements, omissions or violations (each a “Violation”): (a) any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement (unless Holder is
actually aware of and consent to the making of such untrue statement or alleged untrue statement), on the effective date thereof (including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto),
(b) the omission or alleged omission to state in the Registration Statement, on the effective date thereof (including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto), a material fact
required to be stated therein or necessary to make the statements therein not misleading, or (c) any violation or alleged violation by the Company of Applicable Securities Laws, or any rule or regulation promulgated under Applicable Securities
Laws. The Company will reimburse, as incurred, each such Holder, underwriter or controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or
action. 

  

	5.2	Holder Indemnity 

  

	 	(i)	To the maximum extent permitted by Law, each selling Holder that has included Registrable Securities in a Registration will, severally and not jointly, indemnify and hold harmless the Company, its directors and
officers, any other Holder selling securities in connection with such Registration and each Person, if any, who controls (within the meaning of the Securities Act) the Company, such underwriter or other Holder, against any losses, claims, damages or
liabilities (joint or several) to which any of the foregoing persons may become subject, under Applicable Securities Laws, or any rule or regulation promulgated under Applicable Securities Laws, insofar as such losses, claims, damages or liabilities
(or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs solely in reliance upon and in conformity with written information furnished by such Holder
for use in connection with such Registration; and each such Holder will reimburse, as incurred, any Person intended to be indemnified pursuant to this Section 5.2 (Holder Indemnity), for any legal or other expenses reasonably
incurred by such Person in connection with investigating or defending any such loss, claim, damage, liability or action. No Holder’s liability under this Section 5.2 (Holder Indemnity) (when combined with any amounts
paid by such Holder pursuant to Section 5.4 (Contribution)) shall exceed the net proceeds actually received by such Holder from the offering of securities made in connection with that Registration. 

  
 -25- 

	 	(ii)	The indemnity contained in this Section 5.2 (Holder Indemnity) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the
consent of the Holder (which consent shall not be unreasonably withheld or delayed). 

  

	 	(iii)	The indemnity contained in this Section 5.2 (Holder Indemnity) shall be in addition to any liability the selling Holder may otherwise have. 

 

	5.3	Notice of Indemnification Claim 

 Promptly after receipt by an indemnified party under
Section 5.1 (Company Indemnity) or Section 5.2 (Holder Indemnity) of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be
made against any indemnifying party under Section 5.1 (Company Indemnity) or Section 5.2 (Holder Indemnity), deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have
the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the indemnifying parties. An
indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the reasonably incurred fees and expenses to be paid by the
indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by
such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying
party, to the extent so prejudiced, of any liability to the indemnified party under this Section 5, but the omission to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified
party otherwise than under this Section 5. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does
not include as an unconditional term thereof the giving by the claimant or the plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 

 

	5.4	Contribution 

 If any indemnification provided for in Section 5.1(Company
Indemnity) or Section 5.2 (Holder Indemnity) is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying
party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect
the relative fault of the indemnifying party, on the one hand, and of the indemnified party, on the other, in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant
equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a
material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided,
however, that, in any such case: (A) no Holder will be required to contribute any amount (after combined with any amounts paid by such Holder pursuant to Section 5.2 (Holder Indemnity)) in excess of the net proceeds to such Holder
from the sale of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. 

  
 -26- 

	5.5	Underwriting Agreement 

 To the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

 

	5.6	Survival 

 The obligations of the Company and Holders under this Section 5 shall
survive the completion of any offering of Registrable Securities in a Registration Statement under this Agreement, regardless of the expiration of any statutes of limitation or extensions of such statutes. 

 

	6.	ADDITIONAL REGISTRATION-RELATED UNDERTAKINGS 

  

	6.1	Reports under the Exchange Act 

 With a view to making available to the Holders the
benefits of Rule 144 promulgated under the Securities Act and any comparable provision of any Applicable Securities Laws that may at any time permit a Holder to sell securities of the Company to the public without Registration or pursuant to a
Registration on Form F-3 or Form S-3 (or any comparable form in a jurisdiction other than the United States), the Company agrees to: 

 

	 	(i)	make and keep public information available, as those terms are understood and defined in Rule 144 (or comparable provision, if any, under Applicable Securities Laws in any jurisdiction where the Company’s
securities are listed), at all times following 90 days after the effective date of the first Registration under the Securities Act filed by the Company for an offering of its securities to the general public; 

 

	 	(ii)	file with the Commission in a timely manner all reports and other documents required of the Company under all Applicable Securities Laws; and 

  
 -27- 

	 	(iii)	at any time following ninety (90) days after the effective date of the first Registration under the Securities Act filed by the Company for an offering of its securities to the general public by the Company,
promptly furnish to any Holder holding Registrable Securities, upon request (a) a written statement by the Company that it has complied with the reporting requirements of all Applicable Securities Laws at any time after it has become subject to
such reporting requirements or, at any time after so qualified, that it qualifies as a registrant whose securities may be resold pursuant to Form F-3 or Form S-3 (or any
form comparable thereto under Applicable Securities Laws of any jurisdiction where the Company’s securities are listed), (b) a copy of the most recent annual or quarterly report of the Company and such other reports and documents as filed by
the Company with the Commission, and (c) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the Commission, that permits the selling of any such securities without Registration or pursuant
to Form F-3 or Form S-3 (or any form comparable thereto under Applicable Securities Laws of any jurisdiction where the Company’s Securities are listed).

  

	6.2	Limitations on Subsequent Registration Rights 

 From and after the date of this
Agreement, the Company shall not, without the written consent of holders of at least at seventy-five percent (75%) of the voting power of the then outstanding Registrable Securities held by all Holders (calculated on an as-converted to Ordinary Share basis), enter into any agreement with any holder or prospective holder of any Equity Securities of the Company that would allow such holder or prospective holder (i) to include
such Equity Securities in any Registration filed under Section 5.2 (Demand Registration) or Section 5.3 (Piggyback Registrations), (ii) to demand Registration of their Equity Securities, or (iii) cause the
Company to include such Equity Securities in any Registration filed under Section 5.2 (Demand Registration) or Section 5.3 (Piggyback Registrations) hereof on a basis pari passu with or more favorable to such
holder or prospective holder than is provided to the Holders of Registrable Securities. 
  

	6.3	“Market Stand-Off” Agreement 

 Each
holder of Registrable Securities agrees, if so required by the managing underwriter(s) and to the extent necessary for a successful IPO, that it will not during the period commencing on the date of the final prospectus relating to the Company’s
IPO and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days from the date of such final prospectus) (i) lend, offer, pledge, hypothecate, hedge, sell, make any
short sale of, loan, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Equity
Securities of the Company owned at the time of the Qualified IPO (other than those included in such offering), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of such Equity Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Equity Securities of the Company or such other securities, in cash or otherwise; provided that
(w) the forgoing provisions of this Section 6.3 shall be subject to any exceptions that any Holder and the applicable underwriter may agree on, (x) the foregoing provisions of this Section 6.3 shall not apply to the sale of
any securities of the Company to an underwriter pursuant to any underwriting agreement, and to the extent permitted by the applicable Laws and the general requirements of the managing underwriter(s), shall not be applicable to any Holder unless all
directors, officers and all other holders of at least one percent (1%) of the outstanding share capital of the Company (calculated on an as-converted to Ordinary Share basis) must be bound by restrictions at
least as restrictive as those applicable to any such Holder pursuant to this Section 6.3, (y) to the extent permitted by the applicable Laws and the general requirements of the managing underwriter(s), this Section 6.3 shall not apply to a
Holder to the extent that any other Person subject to substantially similar restrictions is released in whole or in part, and (z) the lockup agreements shall permit a Holder to transfer their Registrable Securities to their respective
Affiliates so long as the transferees enter into the same lockup agreement. The underwriters in connection with the Company’s IPO are intended third party beneficiaries of this Section 6.3 and shall have the right, power and authority to
enforce the provisions hereof as though they were a party hereto. In order to enforce the foregoing covenant, the Company may place restrictive legends on the certificates and impose stop-transfer instructions with respect to the Registrable
Securities of each shareholder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

  
 -28- 

	6.4	IPO Participation Right 

 Subject to applicable law and regulations, each Investor shall
have the right to purchase or direct any of its Affiliates to purchase, at its option, at the final price per share (net of underwriting discounts and commissions) set forth in the Company’s final prospectus with respect to an IPO, up to the
number of the Ordinary Shares of the Company offered in the IPO that enables the Investor to maintain, in the aggregate, its percentage ownership interest in the Company immediately prior to the consummation of the IPO (calculated on a fully diluted
and as converted basis). 
  

	6.5	IPO Sale Right 

 If any Equity Securities of the Company are offered in an underwritten
public offering (whether or not a Qualified IPO) for the account of any shareholder of the Company, each Investor shall have the right to include a pro rata number of shares in the offering on terms and conditions no less favourable to such Investor
than to any other selling shareholder(s), provided that the aggregate number of the Equity Securities of the Company to be offered by all the selling shareholders in an underwritten public offering shall not exceed 20% of the total number of the
Equity Securities of the Company available for public subscription or placing under such underwritten public offering. 
  

	6.6	Termination of Registration Rights 

 The registration rights set forth in Section 2
(Demand Registration) or Section 3 (Piggyback Registrations) of this Agreement shall terminate on the earlier of (i) the date that is ten (10) years from the date of closing of a Qualified IPO (ii) with respect to
any Holder, the date on which such Holder may sell without registration, all of such Holder’s Registrable Securities under Rule 144 of the Securities Act in any ninety (90)-day period. 

  
 -29- 

	6.7	Exercise of Ordinary Share Equivalents 

 Notwithstanding anything to the contrary
provided in this Agreement, the Company shall have no obligation to Register Registrable Securities which, if constituting Ordinary Share Equivalents, have not been exercised, converted or exchanged, as applicable, for Ordinary Shares as of the
effective date of the applicable Registration Statement, but the Company shall cooperate and facilitate any such exercise, conversion or exchange as requested by the applicable Holder. 

 

	6.8	Intent 

 The terms of Section 2 through 6 are drafted primarily in contemplation of
an offering of securities in the U.S. The parties recognize, however, the possibility that securities may be qualified or registered for offering to the public in a jurisdiction other than the U.S. where registration rights have significance or that
the Company might effect an offering in the U.S. in the form of American Depositary Receipts or American Depositary Shares. Accordingly: 
  

	 	(i)	it is their intention that, whenever this Agreement refers to a Law, form, process or institution of the U.S. but the parties wish to effectuate qualification or registration in a different jurisdiction where
registration rights have significance, reference in this Agreement to the Laws or institutions of the United States shall be read as referring, mutatis mutandis, to the comparable Laws or institutions of the jurisdiction in question; and

  

	 	(ii)	it is agreed that the Company will not undertake any listing of American Depositary Receipts, American Depositary Shares or any other security derivative of the Ordinary Shares unless arrangements have been made
reasonably satisfactory to the Majority Preferred Holders (voting together as one class on an as-converted basis) to ensure that the spirit and intent of this Agreement will be realized and that the Company is
committed to take such actions as are necessary such that the Holders will enjoy rights corresponding to the rights hereunder to sell their Registrable Securities in a public offering in the U.S. as if the Company had listed Ordinary Shares in lieu
of such derivative securities. 

  

	6.9	Assignment of Registration Rights 

 The registration rights of a Holder under
Section 2 to 6 hereof may be assigned to any person acquiring Registrable Securities; provided that in either case no party may be assigned any of the foregoing rights unless the Company is given written notice by the assigning party stating
the name and address of the assignee and identifying the securities of the Company as to which the rights in question are being assigned; and provided further, that any such assignee shall receive such assigned rights subject to all the terms and
conditions of this Agreement, including without limitation the provisions of this Section 6.9. 

  
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	7.	PREEMPTIVE RIGHT 

  

	7.1	General 

 The Company hereby grants to each holder of Preferred Shares (the
“Preemptive Rights Holder”) the right of first refusal to purchase such Preemptive Rights Holder’s Pro Rata Share (as defined below) (and any oversubscription, as provided below), of all (or any part) of any New
Securities (as defined below) that the Company may from time to time issue after the date of this Agreement (the “Preemptive Right”). 
  

	7.2	Pro Rata Share 

 A Preemptive Rights Holder’s “Pro Rata Share” for
purposes of the Preemptive Rights is the ratio of (a) the number of Ordinary Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to or acquired by such Preemptive
Rights Holder) held by such Preemptive Rights Holder, to (b) the total number of Ordinary Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to or acquired by all
Preemptive Rights Holders) then held by all Preemptive Rights Holders immediately prior to the issuance of New Securities giving rise to the Preemptive Rights. 
  

	7.3	New Securities 

 For purposes hereof, “New Securities” shall mean any
Equity Securities of the Company issued after the date hereof, except for the following Equity Securities (the “Exempted Securities”): 
  

	 	(i)	Ordinary Shares (and/or options or warrants therefore) (including any of such Shares which are repurchased) issued to officers, directors, employees and consultants of the Group Companies pursuant to the Stock Incentive
Plans approved in accordance with the Memorandum and Articles and this Agreement; 

  

	 	(ii)	any Equity Securities issued pursuant to the Purchase Agreement and any Ordinary Shares issued upon the conversion of the Preferred Shares authorized under the Memorandum and Articles; 

 

	 	(iii)	any Equity Securities issued upon the exercise of any option of the Company issued prior to the Initial Closing; 

  

	 	(iv)	any Equity Securities issued pursuant to the transactions with strategic partners as approved by the Majority Preferred Holders and/or the Board in accordance with this Agreement and the Memorandum and Articles, and if
such strategic partner is any of the Preferred Holders or any of their respective Affiliates, such Preferred Holder and the director(s) appointed by such Preferred Holder, as applicable, shall abstain from all voting in the general meetings, Board
meetings or resolutions in relation to the transactions described under this Section 7.3(iv); 

  
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	 	(v)	any Equity Securities issued pursuant to transactions with financial institutions or lessors in connection with loans, credit arrangements, equipment financings or similar transactions, provided that such transactions
have been approved by the Majority Preferred Holders and/or the Board (if applicable) in accordance with this Agreement and the Memorandum and Articles, and if such financial institution or lessor is any of the Preferred Holders or any of their
respective Affiliates, such Preferred Holder and the director(s) appointed by such Preferred Holder, as applicable, shall abstain from all voting in the general meetings, Board meetings or resolutions in relation to the transactions described under
this Section 7.3(v); 

  

	 	(vi)	any Equity Securities issued in connection with any share split, share dividend, reclassification or other similar events in which all Preemptive Rights Holders are entitled to participate on a pro rata basis;

  

	 	(vii)	any Equity Securities issued pursuant to the acquisition of another corporation or entity by the Company by consolidation, merger, purchase of assets, or other reorganization in which the Company acquires, in a single
transaction or a series of related transactions, all or substantially all assets of such other corporation or entity, or fifty percent (50%) or more of the equity ownership or voting power of such other corporation or entity, provided such
acquisition has been approved by the Majority Preferred Holders and the Board in accordance with this Agreement and the Memorandum and Articles, and if such other corporation or entity is any of the Shareholders or its respective Affiliates, such
Shareholder and the director(s) appointed by such Shareholder shall abstain from all voting in the general meetings, Board meetings or resolutions in relation to the issuance under this Section 7.3 (vii); and 

 

	 	(viii)	any Equity Securities issued pursuant to a Qualified IPO. 

  

	7.4	Procedures 

  

	 	(i)	First Participation Notice 

 Subject to the terms and provisions of Section 7.6
(Next Round Financing) hereof, in the event that the Company proposes to undertake an issuance of New Securities (in a single transaction or a series of related transactions), it shall give to each Preemptive Rights Holder written notice of
its intention to issue New Securities (the “First Participation Notice”), describing the amount and type of New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each
Preemptive Rights Holder shall have thirty (30) Business Days from the date of receipt of any such First Participation Notice to agree in writing to purchase up to such Preemptive Rights Holder’s Pro Rata Share of such New Securities for
the price and upon the terms and conditions specified in the First Participation Notice by giving written notice (the “Preemptive Notice”) to the Company and stating therein the quantity of New Securities to be purchased (not to
exceed such Preemptive Rights Holder’s Pro Rata Share). If any Preemptive Rights Holder fails to so respond in writing within such thirty (30) Business Day period to purchase all or any part of such Preemptive Rights Holder’s Pro Rata
Share of an offering of New Securities, then such Preemptive Rights Holder shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did not agree to purchase, but shall not be deemed to forfeit any
right with respect to any other issuance of New Securities. 

  
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	 	(ii)	Second Participation Notice; Oversubscription 

 If any Preemptive Rights Holder
fails or declines to exercise any portion of its Preemptive Rights in accordance with subsection (i) above, the Company shall promptly give notice (the “Second Participation Notice”) to other Preemptive Rights Holders who
exercised in full their Preemptive Rights (the “Oversubscription Participants”) in accordance with subsection (i) above. Each Oversubscription Participant shall have ten (10) Business Days from the date of the Second
Participation Notice (the “Second Participation Period”) to notify the Company of its desire to purchase more than its Pro Rata Share of the New Securities, stating the number of the additional New Securities it proposes to buy (the
“Additional Number”). Such notice may be made by telephone if confirmed in writing within five (5) Business Days. If, as a result thereof, such oversubscription exceeds the total number of the remaining New Securities available
for purchase, each Oversubscription Participant will be cut back by the Company with respect to its oversubscription to such number of remaining New Securities equal to the lesser of (x) the Additional Number and (y) the product obtained by
multiplying (i) the number of the remaining New Securities available for subscription by (ii) a fraction, the numerator of which is the number of Ordinary Shares (including Preferred Shares on an
as-converted basis and any Ordinary Shares issued to or acquired by such Oversubscription Participant) held by such Oversubscription Participant and the denominator of which is the total number of Ordinary
Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to or acquired by all Oversubscription Participants) held by all the Oversubscription Participants. 

 

	7.5	Failure to Exercise 

 Upon the expiration of the Second Participation Period, or in the
event no Preemptive Rights Holder exercises the Preemptive Rights within thirty (30) Business Days following the issuance of the First Participation Notice, the Company shall have ninety (90) days thereafter to complete the sale of the New
Securities described in the First Participation Notice with respect to which the Preemptive Rights hereunder were not exercised at the same or higher price and upon non-price terms not more favorable to the
purchasers thereof than specified in the First Participation Notice. In the event that the Company has not issued and sold such New Securities within such ninety (90) days period, then the Company shall not thereafter issue or sell any New
Securities without again first offering such New Securities to the Preemptive Rights Holders pursuant to this Section 7. 

  
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	7.6	Next Round Financing 

 Without prejudice to any other terms and provisions of this
Section 7, in the event that the Company proposes to solicit or initiate for sale of any New Securities of the Company for the purpose of next round of financing (the “New Financing”) to any Person after the date of this
Agreement, the Company shall give each Investor the written notice of its intention to undertake the New Financing (the “New Financing Notice”). Upon receiving the New Financing Notice, the Investors and the Company
shall discuss and determine all factors of such New Financing, including but not limited to the types of financing, the amount of investment, the price and other general terms. The Investors shall have an exclusive option for a period of four
(4) weeks following receipt of the New Financing Notice (the “Exclusive Option Period”) to elect to purchase, or appoint their Affiliate(s) to purchase, collectively up to all of the New Securities offered for
sale in the New Financing. In case and to the extent the Investors do not collectively exercise their exclusive option hereunder within the Exclusive Option Period to purchase up to all of the New Securities, the Company may proceed to solicit,
initiate or participate in any discussion or negotiation with any third parties for the sale of the remaining New Securities offered for sale in the New Financing, provided that each Investor shall be entitled to exercise its rights under the
Section 7.1 to 7.5 hereunder, anti-dilution adjustment and other rights and privileges under this Agreement and the Memorandum and Articles exercisable in connection with the New Financing. 

 

	8.	INFORMATION AND INSPECTION RIGHTS 

 8.1  Delivery of Financial Statements 

Each Warrantor shall, and shall cause each Group Company to, deliver to each holder of Preferred Shares, the following documents or reports:

  

	 	(i)	within ninety (90) days after the end of each fiscal year, a consolidated financial statements of the Group Companies for such fiscal year, prepared in accordance with the US GAAP, audited and certified by an
internationally reputable firm of independent certified public accountants; 

  

	 	(ii)	within forty-five (45) days after the end of each quarter, a consolidated unaudited financial statements of the Group Companies for such quarter, prepared in accordance with the US GAAP; 

 

	 	(iii)	within thirty (30) days after the end of each month, a consolidated unaudited financial statements of the Group Companies for such month, prepared in accordance with the US GAAP; 

 

	 	(iv)	at least sixty (60) days before the beginning of each fiscal year, an annual business plan and an annual budget of the Group Companies approved by the Board, setting forth including without limitation, the
projected balance sheets, income statements and statements of cash flows for each quarter during such fiscal year of each Group Company; 

  
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	 	(v)	copies of any documents and materials of the Group Companies submitted to any Shareholder by the Company whenever required by any holder of Preferred Shares; and 

 

	 	(vi)	as soon as practicable, any other information of the Group Companies reasonably requested by any such holder of Preferred Shares. 

In the event that any Investor shall have any questions about the aforementioned financial information it received, such Investor shall be
entitled to inspect the original financing documents, the financial system and operations of any Group Company. 
  

	8.2	Inspection Rights 

 Each Group Company covenants and agrees that each holder of Preferred
Shares shall have the right to inspect the operation, facilities, properties, documents, records and books (including but not limited to the books of accounts) of each Group Company at any time during regular working hours with prior notice, the
right to discuss the business, operation and conditions of a Group Company with any Group Company’s directors, officers, employees, independent accounts, legal counsels, advisers and investment bankers. The Warrantors shall procure the Group
Companies to permit and facilitate the inspection right of each holder of Preferred Shares hereunder. 
  

	9.	CORPORATE GOVERNANCE 

  

	9.1	Board of Directors 

  

	 	(i)	The Company shall have, and the Parties hereto agree to cause the Company to have, a Board consisting of not more than eleven (11) authorized Directors, with the composition of the Board determined as follows:
(a) each of Hillhouse NEV Holdings Limited, Shunwei, and Energy (for as long as such Person continues to hold at least 50% of its Benchmark Shares) shall be entitled to appoint, remove and re-appoint at
any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Director on the Board; (b) the Founder Vehicles (for as long as they continue to hold any Series A Preferred Shares) shall
be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, three (3) Directors on the Board;
(c) Temasek (for as long as it continues to hold at least 50% of its Benchmark Shares) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any
consent or resolution of any other Shareholder, one (1) Director on the Board; (d) Baidu Capital (for as long as it continues to hold at least 50% of its Benchmark Shares) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Director on the Board; (e) Tencent (for so long as it continues to hold at
least no less than 46,000,000 Preferred Shares (as converted or reclassified from time to time), which number shall be adjusted for any stock split, stock dividend, combination or other recapitalization or reclassification effected after the Initial
Closing Date (the “Tencent Shareholding Threshold”)) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of
any other Shareholder, two (2) Directors on the Board (each a “Tencent Director”) and, for the avoidance of doubt, for so long as Tencent holds any Preferred Shares (as converted or reclassified from time to time), Tencent
shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Tencent Director on the Board (the
Directors referred to in (a), (b), (c), (d) and (e) above, each an “Investor Director,” and collectively, the “Investor Directors”), and (f) Prime Hubs (for as long as it continues to hold any shares)
shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Director (the
“Ordinary Director”) on the Board. Smart Group (for as long as it continues to hold any Series A Preferred Shares in the Company) shall have the right to appoint, remove and re-appoint at any
time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer to the Board. Sequoia (for as long as it continues to hold any Series A Preferred Shares in the Company) shall have the
right to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer to the Board. Bluestone (for as long
as it continues to hold any Series B Preferred Shares) shall have the right to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other
Shareholder, one (1) observer to the Board. IDG (for as long as it continues to hold any Series C Preferred Shares) shall have the right to appoint, remove and re-appoint at any time or from time to time
and without the need for any consent or resolution of any other Shareholder, one (1) observer to the Board. WP (for as long as it continues to hold any Series C Preferred Shares) shall have the right to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer to the Board. Each observer on the Board shall have the right to attend
any Board meetings of the Company only on a non-voting capacity. 

  
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 Subject to the Series D Transaction Documents, the Investor Directors appointed by the Founder
Vehicles shall collectively have four (4) votes on any matter submitted for approval of the Board (“Four Votes”), and among the Four Votes, Padmasree (as long as she holds any Series A-3
Preferred Shares and remains an Investor Director) (or any other Director appointed by the Founder Vehicles to replace Padmasree, in case Padmasree ceases to be an Investor Director) shall have one vote, and the Founder (as long as he remains an
Investor Director) shall have the remaining of the Four Votes, provided that if the Investor Directors appointed by the Founder Vehicles shall only have one vote, the Founder shall have such one vote. Each of the other Directors of the Company shall
have one (1) vote on any matter submitted for approval of the Board. The composition and voting arrangements of the board of directors of each of the Material Group Subsidiaries shall mirror the composition and the voting arrangements of the
Board of the Company in accordance with Sections 5.6 and 8.17 of the Purchase Agreement. 

  
 -36- 

 This Section 9.1(i) shall terminate immediately prior to the closing of an IPO of the
Company. Immediately upon the IPO, the Board composition shall comply with the requirements of the applicable stock exchange, provided that the Founder Vehicles (acting as one Party) and Tencent (or their respective Affiliates) shall each be
entitled to appoint at least one (1) director to the Board, and the management of the Company shall have an additional representative to serve on the Board. 
  

	 	(ii)	When and if requested by an Investor and subject to consent by the holders of at least 50% of the voting power of the then outstanding Preferred Shares (voting together as a single class and calculated on as-converted basis), the board of directors of each or any of the other Group Companies (the “Subsidiary Board” and collectively, the “Subsidiary Boards”) shall, and the Ordinary
Holders and the Company agree to cause each or any such Subsidiary Board to, be re-constructed so as to include the same number of director(s) that such Investor is entitled to appoint to the Company as
provided in Section 9.1 (i) above, with the same voting arrangements as those of the Company’s Board. For the avoidance of doubt, in the event that one (1) director cannot have more than one (1) vote under the Laws of any
jurisdiction, the Founder Vehicles shall have the right to appoint a total of four (4) directors (as long as the Investor Directors appointed by the Founder Vehicles are collectively entitled to Four Votes in the Board) to the board of the
directors of the Group Companies established in such jurisdiction. Notwithstanding the foregoing, any Investor which has right to appoint one (1) observer to the Board shall have the right to appoint, remove and
re-appoint, at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer to each or any Subsidiary Board, who shall have the right to
attend any meetings of such Subsidiary Board on a non-voting capacity. 

  

	9.2	Director Voting Agreements 

  

	 	(i)	With respect to each election of Directors of the Board, each holder of voting securities of the Company shall vote at each meeting of Shareholders of the Company, or in lieu of any such meeting shall give such
holder’s written consent with respect to, as the case may be, all of such holder’s voting securities of the Company as may be necessary (x) to keep the authorized size of the Board at eleven (11) Directors, (y) to cause the
election or re-election as members of the Board, and during such period to continue in office, each of the individuals appointed pursuant to Section 9.1 (Board of Directors), and (z) against
any nominees not appointed pursuant to Section 9.1 (Board of Directors). 

  
 -37- 

	 	(ii)	Any Director appointed pursuant to Section 9.1 (Board of Directors) may be removed from the Board only upon the vote or written consent of the Person or group of Persons entitled to appoint such Director
pursuant to Section 9.1 (Board of Directors), and the Parties agree not to seek, vote for or otherwise effect the removal of any such Director without such vote or written consent. Any Person or group of Persons entitled to appoint any
individual to be elected as a Director on the Board shall have the exclusive right at any time or from time to time to remove any such Director occupying such position and to fill any vacancy caused by the death, disability, retirement, resignation
or removal of any Director occupying such position, and each other Party agrees to cooperate with such Person or group of Persons in connection with the exercise of such right. Each holder of voting securities of the Company agrees to always vote
such holder’s respective voting securities of the Company (and given written consents in lieu thereof) in support of the foregoing. 

  

	 	(iii)	The Company agrees to take such action, and each other Party hereto agrees to take such action, as is necessary to cause the election or appointment to each Subsidiary Board of the Investor Directors pursuant to
Section 9.1 (Board of Directors). Upon a removal or replacement of the Investor Directors from the Board in accordance with Section 9.2 (ii) above, the Company agrees to take such action, and each other Party hereto
agrees to take such action, as is necessary to cause the removal of such director from each Subsidiary Board. 

  

	9.3	Quorum 

 The Board shall hold no less than one (1) board meeting during each fiscal
quarter. A meeting of the Board shall only proceed where there are present (whether in person or by means of a conference telephone or any other equipment which allows all participants in the meeting to speak to and hear each other simultaneously)
at least six (6) Directors of the Company then in office and the Parties shall cause the foregoing number of Directors to be the quorum requirements for meetings of the Board. The notice of the Board meeting shall be duly delivered to all Directors
and observers seven (7) days prior to the scheduled meeting in accordance with the notice procedures under the Charter Documents of the Company. Notwithstanding the foregoing, if the aforementioned notice of the Board meeting has been duly
delivered, and the number of Directors required to be present under this Section 9.3 for such meeting to proceed is not present within one hour from the time appointed for the meeting because of the absence of any Director, the Directors
present at the meeting shall adjourn the meeting to the third following Business Day at the same time and place (or to such other time or such other place as the Directors may determine) with notice delivered to all Directors one day prior to the
adjourned meeting in accordance with the notice procedures under the Charter Documents of the Company and, if at the adjourned meeting, the number of Directors required to be present under this Section 9.3 for such meeting to proceed is not
present within one hour from the time appointed for the meeting because of the absence of any Director, then the presence of such number of Director(s), shall not be required at such adjourned meeting in order for the meeting to be quorate. 

 

	9.4	Expenses 

 The Company will promptly pay or reimburse each
non-employee Board member and each non-employee Subsidiary Board member and each observer for all reasonable out-of-pocket expenses incurred in connection with attending board or committee meetings and otherwise performing their duties as directors and committee members. 

  
 -38- 

	9.5	Alternates 

 Subject to applicable Law, each Director shall be entitled to appoint an
alternate to serve at any Board meeting, and such alternate shall be permitted to attend all Board meetings and vote on behalf of the director for whom he is serving as an alternate. 

 

	9.6	Director Indemnification and Insurance 

 To the maximum extent permitted by the Laws of
the Cayman Islands, the Company shall indemnify and hold harmless the Investor Directors and shall comply with the terms of the Director Indemnification Agreements, and at the request of the Investor Directors who are not a party to the Director
Indemnification Agreement, shall enter into a director indemnification agreement with the Investor Directors in similar form to the Director Indemnification Agreement. From and after the Initial Closing, the Company shall purchase and at all times
thereafter, maintain customary directors’ and officers’ liability insurance for the Investor Directors, provided however that such directors’ and officers’ liability insurance shall be in form and substance satisfactory to the
Investor Directors. 
  

	10.	PROTECTIVE PROVISIONS. 

  

	10.1	Acts of the Group Companies Requiring Approval of the Majority Preferred Holders 

Notwithstanding anything in this Agreement or in the Charter Documents of any Group Company, the Warrantors shall ensure that no Group Company
shall take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, and no Party shall permit any Group Company to take, permit to occur, approve, authorize, or agree or commit to do any of the following acts,
whether in a single transaction or a series of related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in advance in writing by
the Majority Preferred Holders, which shall include the approvals by Tencent for so long as the number of the Preferred Shares (as converted or reclassified from time to time) held by Tencent does not fall below the Tencent Shareholding Threshold
and by the Founder Vehicles, provided that, where the applicable Law requires a special resolution to approve any of the acts specified below, in computing the majority when a poll is demanded for the purposes of passing such a special resolution at
a meeting of Shareholders, the Majority Preferred Holders, which shall include the approvals by Tencent for so long as the number of the Preferred Shares (as converted or reclassified from time to time) held by Tencent does not fall below the
Tencent Shareholding Threshold and by the Founder Vehicles, shall have the voting rights equal to all Shareholders who voted in favor of the special resolution plus one: 
  

	 	(i)	any amendment or change of the rights, preferences, privileges, or powers of or concerning, or the limitations or restrictions provided for the benefit of, any Preferred Shares, or any amendment of the Charter Documents
of the Company or any Material Group Subsidiary; 

  
 -39- 

	 	(ii)	any action that authorizes, creates or issues any Ordinary Shares or Preferred Shares after the Initial Closing (other than: (1) the issuance of Series D Preferred Shares pursuant to the Purchase Agreement,
(2) the issuance of Ordinary Shares upon conversion of the Preferred Shares, and (3) the issuance of Ordinary Shares (or options or warrants therefor) pursuant to the Stock Incentive Plans); any action that authorizes, creates or issues
any class or series of Equity Securities having rights, preferences, privileges, powers, or limitations or restrictions provided for the benefits of the holders thereof, superior to or on a parity with any Preferred Shares, or any Equity Securities
convertible into, exchangeable for, or exercisable into any Equity Securities having rights, preferences, privileges, powers, or limitations or restrictions provided for the benefits of the holders thereof, superior to or on a parity with any series
of Preferred Shares, and any action that reclassifies any outstanding shares into shares having rights, preferences, privileges, powers, or limitations or restrictions provided for the benefits of the holders thereof, senior to or on a parity with
any series of Preferred Shares; 

  

	 	(iii)	any approval of the liquidation, winding up, bankruptcy, dissolution of any Group Company or the commitment to any of the foregoing; any filing by or against any Group Company for the appointment of a receiver,
administrator or other form of external manager of any Group Company; 

  

	 	(iv)	any approval of the corporate reorganization, merger, consolidation, or split of any Group Company, any Trade Sale, or the commitment to any of the foregoing; 

 

	 	(v)	any acquisition of a majority of the shares, voting power, business or assets of any other corporation or entity, or any investment in any other corporation or entity in excess of US$30,000,000 (individually or in
aggregate in a series of related transactions in any financial year); 

  

	 	(vi)	any repurchase or redemption or cancellation of any Equity Securities of any Group Company (other than pursuant to: (1) the Series D Transaction Documents, (2) any repurchase right of the Company under the
Stock Incentive Plans approved in accordance with the Memorandum and Articles and this Agreement, (3) the Loan and Security Agreement, and (4) the offer letter dated November 23, 2015 for the engagement of Padmasree as chief
development officer of the Company); 

  

	 	(vii)	any increase, decrease or alteration of the authorized or issued share capital or registered capital of any Group Company (other than (1) the increase of capital of any Group Company using the proceeds from the
issuance and sale of the Series D Preferred Shares in accordance with Section 8.3 of the Purchase Agreement, and (2) the increase of capital of any Group Company by another Group Company which holds 100% equity in the first Group Company),
or any transfer of the Equity Securities of any Group Company (other than (1) the transfer of Equity Securities of the Company which complies with the Right of First Refusal & Co-Sale Agreement
or the Stock Incentive Plans, (2) the equity restructuring of Beijing Libite as described under the Purchase Agreement, and (3) the transfer or disposal of Padmasree’s shares pursuant to the Loan and Security Agreement);

  
 -40- 

	 	(viii)	any change of the size, composition or voting arrangement of the board of directors of any Group Company and the manner in which the directors of each Group Company are appointed, except in compliance with
Section 9.1(i) above; 

  

	 	(ix)	(1) establishment of any Subsidiary other than a Subsidiary that is wholly owned, directly or indirectly, by NIO Inc., or divestiture or sale of an interest in a Subsidiary; or (2) restatement or amendment to, or
termination of, the Control Documents between Shanghai Nextev and NIO Technology, or (3) execution of, restatement or amendment to, or termination of, any control documents between Shanghai Nextev and Beijing Libite (or any other affiliate of
the Company) which provide contractual control to Shanghai Nextev over Beijing Libite (or such affiliate of the Company) and allow Shanghai Nextev to consolidate the financial statements of Beijing Libite (or such affiliate of the Company) (except
for (A) the equity restructuring and the execution of control documents with respect to Beijing Libite pursuant to Section 8.13 of the Purchase Agreement, and (B) any amendment and restatement to the control documents between Shanghai
Nextev and Beijing Libite (or any other affiliate of the Company) or to the Control Documents between Shanghai Nextev and NIO Technology solely resulted from the capital increase or equity transfer of Beijing Libite or NIO Technology (or any other
affiliate of the Company) (as the case may be) which has been approved in accordance with this Section 10.1);; 

  

	 	(x)	any sale, transfer, assignment, license, mortgage or other disposition of, or the incurrence of any Lien on, a majority portion of the assets, properties, Intellectual Property, goodwill, Business of any Group Company
in excess of US$30,000,000 (individually or in aggregate in a series of related transactions in any financial year) (except for the transfer or license among Group Companies for management purpose or in the ordinary course of business);

  

	 	(xi)	any transfer of Prime Hubs Shares (as defined in the Purchase Agreement) by any Prime Hubs Grantee (as defined in the Purchase Agreement) to a Person other than Prime Hubs or a Key Employee, officer, management
personnel or director of the Group Companies (including the vehicle 100% owned or controlled by such Key Employee, officer or director); or 

  

	 	(xii)	any direct or indirect transfer by the Founder of any Equity Securities in any Group Company or any of the Founder Vehicles, except for (1) the transfer to the Persons described in Section 2.6(i) to
(iii) of the Right of First Refusal & Co-Sale Agreement, and (2) the transfer of any Equity Securities of Beijing Libite for the purposes of individual foreign exchange registration of the
Prime Hubs Grantees (or any amendments thereto), and (3) subject to Section 2.1(vi) in the Right of First Refusal & Co-Sale Agreement, up to a separate and additional 1,500,000 Series A-1 Preferred Shares beneficially held by the Founder (directly or indirectly through the Founder Vehicles), provided that the third party transferee shall have executed a Deed of Adherence in the form attached
hereto as Exhibit A. 

  
 -41- 

	10.2	Notwithstanding anything in this Agreement or in the Charter Documents of any Group Company and without prejudicing the generality of the Section 10.1 above, the Warrantors shall ensure that no Group Company shall
take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, and no Party shall permit any Group Company to take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, whether in a
single transaction or a series of related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in advance in writing by the Majority
Preferred Holders, provided that, where the applicable Law requires a special resolution to approve any of the acts specified below, in computing the majority when a poll is demanded for the purposes of passing such a special resolution at a meeting
of Shareholders, the Majority Preferred Holders shall have the voting rights equal to all Shareholders who voted in favour of the special resolution plus one 

  

	 	(i)	any declaration, setting aside and/or payment of any dividends or other distributions on any securities of any Group Company, or the adoption of or any change to the dividend policy; 

 

	 	(ii)	any initial public offering (including Qualified IPO) of any Group Company, including choice of the underwriters, the listing venue, timing, valuation and the security exchange for the initial public offering;

  

	 	(iii)	approval of issuance of any indenture, bond or note of any Group Company; or 

  

	 	(iv)	the appointment of, or entering into agreements or arrangements with, a company other than a wholly owned PRC Subsidiary of the Company to serve as a distributor of any products manufactured by PRC Group Companies
and/or any partner of the Group, including but not limited to Anhui Jianghuai Automobile Co., Ltd. 

  

	10.3	Notwithstanding anything in this Agreement, the following actions shall require the consent of the holders of at least seventy-five percent (75%) of the outstanding Series B Preferred Shares: 

 

	 	(i)	any change in any of the rights, preferences, privileges, or powers of, or restrictions provided for the benefit of, the Series B Preferred Shares; 

 

	 	(ii)	creating or authorizing the creation of or issue of any Ordinary Shares or any other security convertible into or exercisable for Ordinary Shares, or any security (or any other security convertible into or exercisable
for such securities), having rights, preferences or privileges senior to or on parity with any Series B Preferred Shares, or without consideration or (in the case of Ordinary Shares or securities convertible into or exercisable for Ordinary Shares)
for a consideration per share less than the Series B Conversion Price immediately prior to such creation or issue (except for the issuance of Exempted Securities); or 

  
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	 	(iii)	any change to the capital structure of any Group Company which has the effect of diluting or reducing the effective shareholding of the Series B Preferred Shareholders relative to the other classes of shares. For the
avoidance of doubt, creation, authorization or issue of (x) any Exempted Securities or (y) any Equity Securities for an effective consideration per share more than the Series B Conversion Price immediately prior to such creation,
authorization or issue shall not be considered having the effect of diluting or reducing the effective shareholding of the Series B Preferred Shareholders relative to the other classes of shares hereunder. 

 

	10.4	Notwithstanding anything in this Agreement, the following actions shall require the consent of the holders of at least seventy-five percent (75%) of the outstanding Series C Preferred Shares: 

 

	 	(i)	any change in any of the rights, preferences, privileges, or powers of, or restrictions provided for the benefit of, the Series C Preferred Shares; 

 

	 	(ii)	creating or authorizing the creation of or issue of any Ordinary Shares or any other security convertible into or exercisable for Ordinary Shares, or any security (or any other security convertible into or exercisable
for such securities), having rights, preferences or privileges senior to or on parity with any Series C Preferred Shares, or without consideration or (in the case of Ordinary Shares or securities convertible into or exercisable for Ordinary Shares)
for a consideration per share less than the Series C Conversion Price immediately prior to such creation or issue (except for the issuance of Exempted Securities); or 

 

	 	(iii)	any change to the capital structure of any Group Company which has the effect of diluting or reducing the effective shareholding of the Series C Preferred Shareholders relative to the other classes of shares. For the
avoidance of doubt, creation, authorization or issue of (x) any Exempted Securities or (y) any Equity Securities for an effective consideration per share more than the Series C Conversion Price immediately prior to such creation,
authorization or issue shall not be considered having the effect of diluting or reducing the effective shareholding of the Series C Preferred Shareholders relative to the other classes of shares hereunder. 

 

	10.5	Notwithstanding anything in this Agreement, the following actions shall require the consent of the holders of at least seventy-five percent (75%) of the outstanding Series D Preferred Shares: 

 

	 	(i)	any change in any of the rights, preferences, privileges, or powers of, or restrictions provided for the benefit of, the Series D Preferred Shares; 

  
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	 	(ii)	creating or authorizing the creation of or issue of any Ordinary Shares or any other security convertible into or exercisable for Ordinary Shares, or any security (or any other security convertible into or exercisable
for such securities), having rights, preferences or privileges senior to or on parity with any Series D Preferred Shares, or without consideration or (in the case of Ordinary Shares or securities convertible into or exercisable for Ordinary Shares)
for a consideration per share less than the Series D Conversion Price immediately prior to such creation or issue (except for the issuance of Exempted Securities); or 

 

	 	(iii)	any change to the capital structure of any Group Company which has the effect of diluting or reducing the effective shareholding of the Series D relative to the other classes of shares. For the avoidance of doubt,
creation, authorization or issue of (x) any Exempted Securities or (y) any Equity Securities for an effective consideration per share more than the Series D Conversion Price immediately prior to such creation, authorization or issue shall
not be considered having the effect of diluting or reducing the effective shareholding of the Series D Preferred Shareholders relative to the other classes of shares hereunder. 

 

	10.6	Acts of the Group Companies Requiring Approval of Investor Directors 

 In addition to
such other limitations as may be provided in this Agreement, the Company shall not take, permit to occur, approve, authorize, or agree or commit to do any of the following, and the Company shall not permit any other Group Company to take, permit to
occur, approve, authorize, or agree or commit to do any of the following acts, whether in a single transaction or a series of related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of
arrangement, amalgamation, or otherwise, unless approved in advance in writing by a majority of the votes of the directors of the Company, including the affirmative vote of (a) at least two Investor Directors appointed by the Series A-1 Investors and (b) at least four Investor Directors appointed by the Investors other than the Series A-1 Investors: 

 

	 	(i)	any related party transaction or a series of related party transactions involving any Group Company on one hand, and any Ordinary Holders, director, officer or employee of the Group Company on the other hand, for which
the aggregate value exceeds US$3 million, except for the business cooperation with any of Tencent’s Affiliates (including but not limited to the business cooperation with any of Tencent’s Affiliates pursuant to Section 12.16
hereto); 

  

	 	(ii)	the extension by any Group Company of any loan to any third party in excess of US$3 million (individually or in the aggregate in a series of related loans in a fiscal year), or any guarantee for the indebtedness of
any third party, except for the loans or the trade credit incurred in the ordinary course of business; 

  

	 	(iii)	the incurrence of any loan of any Group Company involving an amount in excess of US$5,000,000 from banks, financial institutions or any third party; 

 

	 	(iv)	the commencement or carrying out of any business activities by Beijing Libite or NIO Technology which will generate substantial revenues or cash flows; any material change to the business scope, or substance of the
Business of any Group Company, the commencement or carrying out any new businesses of any Group Company other than the Business; or incurrence of any substantial expenses by Beijing Libite (except for the regular lease payment for its current leased
office or regular office maintenance expenses) exceeding RMB1,000,000; any transfer of assets to NIO Technology or Beijing Libite; 

  
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	 	(v)	approval or material amendment of the annual business plan or annual budget plan of any Group Company; 

  

	 	(vi)	approval or amendment of Stock Incentive Plans of any Group Company, or any other incentive arrangements which may result in any employee, officer, director or advisor of the Group Companies directly hold any Equity
Securities in the Company or other Group Company; 

  

	 	(vii)	any material change in the accounting and financial policies of any Group Company unless such change is required by applicable Laws; or 

 

	 	(viii)	engagement or change of the auditor of the Company. 

  

	11.	DRAG-ALONG RIGHTS. 

  

	11.1	Approved Sale 

 At any time after March 18, 2021, in the event that the holders of
the Preferred Share receives a written bona fide offer for a Trade Sale from an unrelated person, which, for the purpose of this Section 11, means any third party which is not an Affiliate of any Group Company, or an Affiliate of the Founder or
Mr. QIN Lihong, or an Affiliate of the Founder Vehicles, or any trust or other estate in which the Founder or Mr. QIN Lihong has a substantial beneficial interest, in which the implied valuation of the Company immediately prior to such
offered Trade Sale is not less than US$6,000,000,000 (the “Offer Price”), and if such offered Trade Sale is approved and agreed by the Majority Preferred Holders (as so approved and agreed, the “Approved Sale”),
then upon the receipt of written notice from the Majority Preferred Holders and within thirty (30) days thereafter, the Company and each Shareholder of the Company shall vote for, consent to and raise no objection against, enter into any
agreement in connection with, participate in, and if applicable, shall cause all other Shareholders of the Company to promptly consent to, enter into any agreement in connection with, and participate in, such Trade Sale. 

  
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	11.2	In the event that there are any Shareholders that do not participate in the Approved Sale within the period as provided in Section 11.1, the Company shall promptly notify such Shareholder of the Company (the
“Remaining Members”) in writing of the Approved Sale and the material terms and conditions of such Approved Sale, whereupon each Remaining Member shall, in accordance with instructions received from the Company and as pre-approved by the Majority Preferred Holders, vote all of its voting securities of the Company in favor of, otherwise consent in writing to, and/or otherwise sell or transfer all of its Shares in such Approved
Sale (including without limitation tendering original share certificates for transfer, signing and delivering share transfer certificates, share sale or exchange agreements, and certificates of indemnity relating to any Shares in the capital of the
Company in the event that such Remaining Member has lost or misplaced the relevant share certificate) on the same terms and conditions as were agreed by the Majority Preferred Holders; provided, however, that such terms and conditions, including
with respect to price paid or received per share, may differ as among the Ordinary Shares, the Series A Preferred Shares, the Series B Preferred Shares, the Series C Preferred Shares, the Series D Preferred Shares and different series of preferred
shares, in order to reflect the liquidation preferences and participation rights of the preferred shares set forth in the Memorandum and Articles (it being understood that proceeds of the Approved Sale shall be distributed among the Shareholders in
accordance with Article 8(b) of the Memorandum and Articles). In furtherance of the foregoing, the Company is expressly hereby authorized by each Remaining Member to take any and all of the following actions on such Remaining Member’s behalf
(without receipt of any further consent by such Remaining Member): (i) vote all of the voting securities of such Remaining Member in favor of any such Approved Sale; (ii) otherwise consent on such Remaining Member’s behalf to such Approved
Sale; (iii) sell all of such Remaining Member’s shares in such Approved Sale, in accordance with the terms and conditions of this Section 11.2; and (iv) act as such Remaining Member’s attorney-in-fact in relation to any such Approved Sale and have the full authority to sign and deliver, on behalf of such Remaining Member, share transfer certificates, share sale or exchange agreements and
certificates of indemnity relating to any shares in the capital of the Company in the event that such Remaining Member has lost or misplaced the relevant share certificate. 

 

	11.3	In furtherance of the foregoing, in the event an Approved Sale is to be brought to a vote at a general meeting, each Shareholder of the Company entitled to vote at such meeting agrees: 

 

	 	(i)	to be present, in person or by proxy, at all such meetings and be counted for the purposes of determining the presence of a quorum at such meetings and the presence of the number of votes necessary for the effectiveness
of any shareholder resolutions; 

  

	 	(ii)	to vote (in person, by proxy or by action by written consent, as applicable) all shares of the Company as to which it has record or beneficial ownership in favor of such Approved Sale and in opposition of any and all
other proposals that could reasonably be expected to delay or impair the ability of the Company to consummate such Approved Sale; 

  

	 	(iii)	to refrain from exercising any dissenters’ rights or rights of appraisal under applicable Laws at any time with respect to such Approved Sale; and 

 

	 	(iv)	to execute and deliver all related documentation and take such other action in support of the Approved Sale as shall reasonably be requested by the Majority Preferred Holders. 

  
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	11.4	Put Option 

 Without prejudice to the other provisions hereof, if any Shareholder of the
Company (the “Dissenting Member”) refuses to vote in favor of the Approved Sale or participate in the Approved Sale in accordance with Section 11.1 (Approved Sale) through Section 11.3 (Drag-along Provisions to
Control), then, so long as the Majority Preferred Holders give their written consent, each holder of the Preferred Shares voting in favor of the Approved Sale shall have the right to require the Dissenting Member to purchase in cash up to all of
the Preferred Shares held by such holder at a price per Preferred Shares equal to the amount that a holder of a Preferred Shares would have received in respect of a Preferred Shares had the Company been sold for cash in the Approved Sale. The
Dissenting Member shall also reimburse such holder of Preferred Shares for any and all reasonable fees and expense, including legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of rights of such holder of a
Preferred Shares under this Section 11.4. Within fifteen (15) days after a holder of Preferred Shares delivers a notice to the Dissenting Member exercising the option created hereby, such holder of Preferred Shares shall deliver to the
Dissenting Member the certificate or certificates representing Preferred Shares to be sold under this Section 11.4 by such holder of Preferred Shares properly endorsed for transfer, if certificated, and the Dissenting Member shall pay
immediately the aggregate purchase price therefor and the amount of reimbursable fees and expenses, in each case, as provided for under this Section 11.4, in cash or by other means acceptable to such holder of Preferred Shares. 

 

	11.5	Drag-along Provisions to Control 

 For the avoidance of doubt, if and to the extent that
there are inconsistencies between this Section 11 and any other provisions of this Agreement or the Right of First Refusal & Co-Sale Agreement, the terms of this Section 11 (Drag-Along
Rights) shall prevail and control. 
  

	12.	ADDITIONAL COVENANTS. 

  

	12.1	Control of Subsidiaries 

 The Company shall institute and keep in place such arrangements
such that the Company (i) will at all times control the operations of and maintain relevant beneficial interests in each other Group Company, and (ii) will at all times be permitted to properly consolidate the financial results for each
other Group Company in the consolidated financial statements for the Company prepared under the US GAAP. 
  

	12.2	Compliance with Laws 

 Each Warrantor shall cause the Group Companies to, conduct the
Business in compliance in all material respects with all applicable Laws, and obtain, make and maintain in effect, all Consents from the relevant Governmental Authority or other Person required in respect of the due and proper establishment and
operations of each Group Company in accordance with applicable Laws. Without limiting the generality of the foregoing, none of the Warrantors shall, and the Warrantors shall cause each Group Company not to, and the Parties shall ensure that its and
their respective Subsidiaries and its respective officers, directors, and representatives shall not, directly or indirectly, (a) offer or give anything of value to any Public Official with the intent of obtaining any improper advantage,
affecting or influencing any act or decision of any such Person, assisting any Group Company in obtaining or retaining business for, or with, or directing business to, any Person, or constituting a bribe, kickback or illegal or improper payment to
assist any Group in obtaining or retaining business, (b) take any other action, in each case, in violation of the Foreign Corrupt Practices Act of the United States of America, as amended (as if it were a United States Person), or any other
applicable similar anti-corruption, recordkeeping and internal controls Laws, or (c) establish or maintain any fund or assets in which any Group Company has proprietary rights that have not been recorded in its books and records of Group
Company. 

  
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	12.3	Insurance 

 If requested by the Majority Preferred Holders, the Company shall promptly
purchase and maintain, and shall cause its Subsidiaries to promptly purchase and maintain, in effect, insurance policies with respect to the Group Company’s properties, employees, products, operations, liabilities, and/or business, each in the
amounts not less than that are customarily obtained by companies engaging in research and development, design, manufacture, promotion and distribution of new energy automobiles (electric cars) in the PRC. 

 

	12.4	Future Holders of Shares 

 Except with the written consent of the Majority Preferred
Holders, the Company covenants that it will cause all future holders of at least 1% of the Company’s Shares, and all future holders of other Equity Securities convertible, exchangeable or exercisable into at least 1% of the Company’s
Shares upon such conversion, exchange or exercise, to join this Agreement and the Right of First Refusal & Co-Sale Agreement as a “Party,” a “Shareholder” and, where applicable, as
an “Ordinary Holder,” or an “Investor” and a “Preferred Holder,” either (i) by executing a Deed of Adherence in the form attached hereto as Exhibit A, without any amendment to this Agreement or the Right of First
Refusal & Co-Sale Agreement, or (ii) by entering into an amended and restated Agreement in accordance with Section 13.12 and an amended and restated Right of First Refusal & Co-Sale Agreement in accordance with Section 4.10 thereof, as applicable, and each Shareholder shall cooperate with the Company in this regard. The Parties hereby agree that upon execution of a Deed of
Adherence in the form attached hereto as Exhibit A by such holders with the Company, such holders may become parties to this Agreement and the Right of First Refusal & Co-Sale Agreement, and be
entitled to all the applicable rights and privileges, and be bound by all the applicable duties and obligations, as provided under this Agreement and the Right of First Refusal & Co-Sale Agreement in
relation to the Shares held by them. Further, immediately after each Additional Closing, Schedule 1 (List of Investors) to this Agreement will be amended to list the Additional Series D Investors participating in such Additional Closing, and
subject to Section 13.2 (Effectiveness and Termination) hereof, each Additional Series D Investor participating in such Additional Closing shall be deemed as a “Series D Investor,” a “Party” and a
“Shareholder” hereunder. 

  
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	12.5	Internal Control System 

 The Warrantors shall, and shall cause each Group Company to,
maintain the books and records in accordance with sound business practices and implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that meets international standards of good
practice and is reasonably satisfactory to the Majority Preferred Holders to provide reasonable assurance that (i) transactions by it are executed in accordance with management’s general or specific authorization, (ii) transactions by
it are recorded as necessary to permit preparation of financial statements in conformity with the respective PRC Accounting Standards or US GAAP and to maintain asset accountability, (iii) access to assets of it is permitted only in
accordance with management’s general or specific authorization, (iv) the recorded accountability for assets of it is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any material
differences, (v) segregating duties for cash deposits, cash reconciliation and cash payment, and establishing proper approval procedures relating to cash management, and (vi) any personal assets or bank accounts of the employees,
directors, officers are not mingled with the corporate assets or corporate bank account of any Group Company, and no Group Company uses any personal bank accounts of any employees, directors, officers thereof during the operation of its business.

 12.6 No Avoidance; Voting Trust 
 Each
Warrantor will not, and shall procure the Group Companies not to, by any voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be performed hereunder by the Group Companies, and each Warrantor will at all
times in good faith assist and take action as appropriate in the carrying out of all of the provisions of this Agreement. Except for the transactions contemplated by the Series D Transaction Documents, each Ordinary Holder agrees that it shall not
enter into any other agreements or arrangements of any kind with respect to the voting of any Shares or deposit any Shares in a voting trust or other similar arrangement. 

12.7 United States Tax Matters 
  

	 	(i)	None of the Warrantors will, and will procure the Group Companies not to, take any action inconsistent with its treatment of the Company as a corporation for U.S. federal income tax purposes or elect to be treated as an
entity other than a corporation for U.S. federal income tax purposes 

  

	 	(ii)	The Company shall use, and shall cause each of its Subsidiaries to use, its best efforts to arrange its management and business activities in such a way that the Company and each of its Subsidiaries are not treated as
residents for tax purposes, or is otherwise subject to income tax in, a jurisdiction other than the jurisdiction in which they have been organized. 

  
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	 	(iii)	The Company shall use its best effort to avoid future status of the Company or any of its Subsidiaries as a PFIC. Within forty-five (45) days from the end of each taxable year of the Company, the Company shall
determine, in consultation with a reputable accounting firm, whether the Company or any of its Subsidiaries was a PFIC in such taxable year (including whether any exception to PFIC status may apply). If the Company determines that the Company or any
of its Subsidiaries was a PFIC in such taxable year (or if a Government Authority or an Investor informs the Company that it has so determined), it shall, within sixty (60) days from the end of such taxable year, provide the following
information to each holder of Preferred Shares that is a United States Person (“Direct US Investor”) and each United States Person that holds either direct or indirect interest in such holder (“Indirect US
Investor”) (hereinafter, collectively referred to as a “PFIC Shareholder”): (i) all information reasonably available to the Company to permit such PFIC Shareholder to (a) accurately prepare its U.S.
tax returns and comply with any other reporting requirements, if any, arising from its investment in the Company and relating to the Company or any of its Subsidiaries’ classification as a PFIC and (b) make any election (including, without
limitation, a “qualified electing fund” election under Section 1295 of the Code), with respect to the Company (or any of its Subsidiaries); and (ii) a completed “PFIC Annual Information Statement” as described
under Treasury Regulation Section 1.1295-1(g). The Company shall be required to provide the information described above to an Indirect US Investor only if the relevant holder of Preferred Share requests
in writing that the Company provide such information to such Indirect US Investor and furnish the Company with written identifying information (such as name, address, and other identifying information) about the Indirect US Investor.

  

	 	(iv)	Each of the Ordinary Holders represents that such Person is not a United States Person and such Person is not owned, wholly or in part, directly or indirectly, by any United States Person. Each of the Ordinary Holders
shall provide prompt written notice to the Company of any subsequent change in its United States Person status. The Company shall use its best efforts to avoid future status of the Company or any of its Subsidiaries as a CFC. Upon written request of
a holder of Preferred Shares from time to time, the Company will promptly provide in writing such information concerning its shareholders and the direct and indirect interest holders in each shareholder sufficient for such holder of Preferred Shares
to determine whether the Company is a CFC. In the event that the Company does not have in its possession all the information necessary for the holder of Preferred Shares to make such determination, the Company shall promptly procure such information
from its shareholders. The Company shall, (i) upon written request of a holder of Preferred Shares, furnish on a timely basis all information requested by such holder to satisfy its (or any Indirect US Investor’s) U.S. federal income tax
return filing requirements, if any, arising from its investment in the Company and relating to the Company or any of its Subsidiaries’ classification as a CFC. The Company and each of its Subsidiaries shall use their commercially reasonable
best efforts to avoid generating for any taxable year in which the Company or any of its Subsidiaries is a CFC, income that would be includible in the income of such holder of Preferred Shares (or any Indirect US Investor) pursuant to
Section 951 of the Code. 

  

	 	(v)	The Company shall comply, and shall cause each of its Subsidiaries to comply, with all record-keeping, reporting, and other requests necessary for the Company and each of its Subsidiaries to comply with any applicable
U.S. tax law or to allow each holder of Preferred Shares to avail itself of any provision of U.S. tax laws. The Company shall also provide each holder of Preferred Shares with any information requested by such holder of Preferred Shares to allow
such holder of Preferred Shares to comply with U.S. tax laws or to avail itself of any provision of U.S. tax laws. 

  
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	 	(vi)	The cost incurred by the Company in providing the information that it is required to provide, or is required to cause to be provided, and the cost incurred by the Company in taking the action, or causing the action to
be taken, as described in this Section shall be borne by the Company. 

  

	12.8	Other Tax Matters 

 Each of the Warrantors agrees to jointly and severally indemnify each
Investor from and against (i) any Taxes imposed on such Investor by any PRC Government Authority in connection with its investment in the Company, and (ii) any loss, claim, liability, expense, or other damage (including diminution in the
value of the Company business or such Investor’s investment in the Company) attributable to (a) any Taxes (or the non-payment thereof) of any Group Company for all taxable periods ending on or before
the Initial Closing and the portion through the end of the Initial Closing for any taxable period that includes (but does not end on) the Initial Closing, (b) any Taxes of any other Person imposed by any Governmental Authority on any Group
Company as a transferee, successor, withholding agent, accomplice, or party providing conveniences in connection with an event or transaction occurring before the Initial Closing, and (c) any breach of any representations, warranties or
covenants contained in Section 12.7 (United States Tax Matters). 
  

	12.9	Confidentiality 

  

	 	(i)	Non-Disclosure of Confidential Information. Except as set forth in Section 12.9(iii), each of the Parties shall (i) not use or disclose to any person that
is not a Party any Confidential Information it has or acquires; (ii) make every effort to prevent the unauthorized use or disclosure of Confidential Information; and (iii) cause each of its Affiliates to comply with (i) and (ii) in
this Section 12.9(i). 

  

	 	(ii)	Press Releases. No announcement regarding any of the Confidential Information (including the Investor’s subscription of share interest of the Company) in a press release, conference, advertisement,
announcement, professional or trade publication, mass marketing materials or otherwise to the general public may be made without the prior written consent of the Majority Preferred Holders. Any press release issued by the Company shall not disclose
any of the Confidential Information and the final form of such press release shall be approved in advance in writing by the Majority Preferred Holders (except for any press release made by Tencent in connection with the transaction as contemplated
under the Series D Transaction Documents upon the Initial Closing). 

  
 -51- 

	 	(iii)	Permitted Disclosures. Notwithstanding the foregoing, Section 12.9 (i) above shall not apply to (a) Confidential Information which a restricted party learns from a third party which such third
party reasonably believes to have the right to make the disclosure, provided that the restricted party complies with any restrictions imposed by such third party; (b) Confidential Information which is rightfully in the restricted party’s
possession prior to the time of disclosure by the protected party and not acquired by the restricted party under a confidentiality obligation; (c) Confidential Information which enters the public domain without breach of confidentiality by the
restricted party, (d) disclosures of Confidential Information by a Party to its current or bona fide prospective investors, Affiliates and their respective employees, directors, bankers, lenders, accountants, legal counsels, business partners
or representatives or advisors who need to know such information, in each case only where such persons or entities are informed of the confidential nature of the Confidential Information and are under appropriate nondisclosure obligations
substantially similar to those set forth in Section 12.9, (e) disclosures of Confidential Information to a bona fide purchaser or transferee of the Shares held by the Investors where such purchaser or transferee is informed of the confidential
nature of the Confidential Information and are under appropriate nondisclosure obligations substantially similar to those set forth in Section 12.9, (f) disclosures of Confidential Information if such disclosure is approved in writing by the
Company, the Majority Ordinary Holders and the Majority Preferred Holders, and (g) disclosures of Confidential Information to the extent required pursuant to applicable Law (including the applicable rules of any stock exchange), in which case
the party required to make such disclosure (the “Disclosing Party”) shall provide the other Parties hereto with prompt written notice of that fact, shall consult with the other Parties hereto regarding such disclosure, and shall, to
the extent reasonably possible and with the cooperation and reasonable efforts of the other Parties, seek a protective order, confidential treatment or other appropriate remedy. In such event, the Disclosing Party shall furnish only that portion of
the information which is legally required to be disclosed. 

  

	 	(iv)	The provisions of Section 12.9 shall terminate and supersede the provisions of any separate nondisclosure agreement executed by any of the Parties hereto with respect to the transactions contemplated hereby,
including without limitation, any term sheet, letter of intent, memorandum of understanding or other similar agreement entered into by any Group Company, the Ordinary Holders and the Investors in respect of the transactions contemplated hereby.

  

	12.10   	No use of Series D Investors’ Name or Logo 

 Without the prior written consent of a
Series D Investor, and whether or not such Series D Investor is then a shareholder of the Company, none of the Parties shall use, publish or reproduce the name, brand and/or logo of such Series D Investor, or any names, brands, trademarks or logos
similar to those of such Series D Investor, or claim itself a partner of such Series D Investor or its Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for
marketing, advertising, promotional or other purposes, where the names, brands and/or logos of each Series D Investor are as follows (unless stated elsewhere in Sections 12.11 (No Use of Series C Investors’ Name or Logo), 12.12 (No
Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series A-3 Investors’ Name or Logo) or 12.14 (No Use of Series A-2 Investors’
Name or Logo)): (1) with respect to Image Frame and Morespark, “Tencent” or “腾讯,” (2)
with respect to Hammer Capital, “Hammer” or “黑马资本,” (3) with respect to
Hubei Science & Technology Investment Group (Hong Kong) Co Ltd, “Hubei Science & Technology” or “湖北科投,” (4) with respect to PV Vision Limited, “Primavera” or “春华,” (5) with respect to Temasek, “Temasek, ” (6) with respect to Hillhouse, “Hillhouse,” “Gaoling”, “Lei Zhang”, “张磊” or “高瓴” and (7) with respect to SCC, “Sequoia,”
“Sequoia Capital” or “红杉.” 

  
 -52- 

	12.11   No	use of Series C Investors’ Name or Logo 

 Without the prior written consent of a
Series C Investor, and whether or not such Series C Investor is then a shareholder of the Company, none of the Parties shall use, publish or reproduce the name, brand and/or logo of such Series C Investor, or any names, brands, trademarks or logos
similar to those of such Series C Investor, or claim itself a partner of such Series C Investor or its Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for
marketing, advertising, promotional or other purposes, where the names, brands and/or logos of each Series C Investor are as follows (unless stated elsewhere in Sections 12.10 (No use of Series D Investors’ Name or Logo), 12.12 (No
Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series A-3 Investors’ Name or Logo) or 12.14 (No Use of Series A-2 Investors’
Name or Logo)): (1) with respect to Baidu Capital, “Baidu” or “百 度,” and “Baidu Capital” or
“百度资本,” (2) with respect to West City, “Capital Today” or “今日资本,” (3) with respect to WP, “Warburg Pincus” or “华平,” (4) with respect to New Margin Capital,
“聯創資本” or “New Margin Capital,” (5) with respect to Image Frame,
“Tencent” or “腾讯,” (6) with respect to Total Prestige, “新天域资本” or “New Horizon Capital,” (7) with respect to Zhide, “中金,” “CICC,”
“中金公司,”
“中金资本” or
“中金智德,” (8) with respect to ChinaEquity, “信中利,” and (9) with respect to UBS, “UBS” or “瑞银.” 
  

	12.12   No	use of Series B Investors’ Name or Logo 

 Without the prior written consent of a
Series B Investor, and whether or not such Series B Investor is then a shareholder of the Company, none of the Parties shall use, publish or reproduce the name, brand and/or logo of such Series B Investor, or any names, brands, trademarks or logos
similar to those of such Series B Investor, or claim itself a partner of such Series B Investor or its Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for
marketing, advertising, promotional or other purposes, where the names, brands and/or logos of each Series B Investor are as follows (unless stated elsewhere in Sections 12.10 (No use of Series D Investors’ Name or Logo), 12.11 (No
Use of Series C Investors’ Name or Logo), 12.12 (No Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series A-3 Investors’ Name or Logo) or 12.14 (No Use of
Series A-2 Investors’ Name or Logo)): (1) with respect to Temasek, “Temasek,” (2) with respect to Bluestone, “Bluestone” or “厚朴,” (3) with respect to TPG, “TPG,” (4) with respect to Magic Stone, “Magic Stone,” (5) with
respect to Orient Hontai, “Orient Hontai,” (6) with respect to Golden Brick, “Golden Brick,” (7) with respect to Lenovo, “Lenovo,” (8) with respect to SCC, “Sequoia,” “Sequoia Capital” or
“红杉,” (9) with respect to Grandfield, “Redview” and “鸿为,” (10) with respect to Palace,
“蘭亭投资 ,” (11) with respect to Bright Sky, “GIC,” (12) with respect to
Long Winner, “China Renaissance,” and (13) with respect to Hillhouse, “Hillhouse,” “Gaoling”, “Lei Zhang”, “张磊” or “高瓴.” 

  
 -53- 

	12.13   No	use of Series A-3 Investors’ Name or Logo 

Without the prior written consent of Sequoia, and whether or not Sequoia is then a shareholder of the Company, none of the Parties shall use,
publish or reproduce the name, brand and/or logo of “Sequoia,” “Sequoia Capital” or
“红杉,” or any similar names, brands, trademarks or logos, or claim itself a partner of Sequoia or its
Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for marketing, advertising, promotional or other purposes. Without the prior written consent of Joy Capital, and
whether or not Joy Capital is then a shareholder of the Company, none of the Parties shall use, publish or reproduce the name, brand and/or logo of “Joy Capital,” or any similar names, brands, trademarks or logos, or claim itself a partner
of Joy Capital or its Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for marketing, advertising, promotional or other purposes. 

 

	12.14   No	use of Series A-2 Investors’ Name or Logo 

Except for the permitted disclosures under Section 12.9 (Confidentiality) hereof, (1) without the prior written consent of Hillhouse,
none of the Parties shall use, publish, reproduce, or refer to the name “Hillhouse,” “Gaoling”,
“Lei Zhang”,
“张磊”,“高 瓴” or any similar name, trademark or logo in any discussion, documents or materials, including without limitation for
marketing or other purposes; (2) without the prior written consent of Shunwei, none of the Parties shall use, publish, reproduce, or refer to the name “Shunwei,”
“顺为,” “Xiaomi,”
“小米,” or the name of the general partner of Shunwei or Xiaomi, or any similar name, trademark or
logo in any discussion, documents or materials, including without limitation for marketing or other purposes; (3) without the prior written consent of Mount Putuo, none of the Parties shall use, publish, reproduce, or refer to the name
“Tencent,” “腾讯,” or any similar name, trademark or logo in any discussion, documents
or materials, including without limitation for marketing or other purposes; (4) without the prior written consent of Smart Group, none of the Parties shall use, publish, reproduce, or refer to the name “Smart Group”,
“Jingdong,” “JD,” “京东,” or any similar name, trademark or logo in any
discussion, documents or materials, including without limitation for marketing or other purposes. 
  

	12.15   Corporate	Opportunity 

 It is acknowledged and agreed by each of the Parties (for itself and on
behalf of its Subsidiaries and Affiliates) that, notwithstanding the appointment of an Investor Director or observer by each of the Series A Investors, subject to all applicable Laws and securities regulations, each of the Series A Investors and its
respective Affiliates (or in case of Hillhouse NEV Holdings Limited or Shunwei, its respective Investment Affiliates, where “Investment Affiliates” for the purpose of this Section 12.15 shall mean if applicable, any shareholder
of Hillhouse NEV Holdings Limited or Shunwei (as the case may be), any fund managing company managing such shareholder or Hillhouse NEV Holdings Limited or Shunwei (as the case may be), and other funds managed by such fund managing company) shall
forever be entitled to, directly or indirectly: 

  
 -54- 

	 	(i)	acquire, transfer, enter into any derivative or similar transaction, or otherwise enter into a contract in respect of the Equity Securities of the Group Companies or any other Person; 

 

	 	(ii)	enter into any agreement, arrangement or understanding with, or otherwise acquire, hold or dispose of Equity Securities in, (1) any publically listed, traded or quoted company, regardless of whether such company
carries out the Competing Business, and/or (2) with respect to a Series A Investor (regardless whether such Series A Investor concurrently holds any Series B Preferred Shares, any Series C Preferred Shares or any Series D Preferred Shares),
only after the applicable Investor Restrictive Investment Cutoff Date of such Series A Investor, any private company which carries out the Competing Business. For the avoidance of doubt, regardless whether such Series A Investor concurrently holds
any Series B Preferred Shares, any Series C Preferred Shares or any Series D Preferred Shares, (a) within the applicable Investor Restrictive Investment Period for each Series A Investor, such Series A Investor and its respective Affiliates (or
in case of Hillhouse NEV Holdings Limited or Shunwei, its respective Investment Affiliates) shall not enter into any agreement, arrangement or understanding with, or otherwise acquire or hold Equity Securities in, any private company which carries
out the Competing Business, (b) notwithstanding anything provided to the contrary herein, for purposes of this subsection (ii), Competing Business shall not include the business of (A) the design, manufacture or sale of any vehicles other
than electric automobiles (电动汽车), (B) the design, manufacture or sale of the parts, components and accessory products for any vehicles (including new energy automobiles (electric cars)),
(C) the provision of automobile-related services, (D) low-speed electric cars, and (E) charging networks, (c) upon prior written consent of the Founder Vehicles with respect to a particular
private company which carries out the Competing Business, each of the Series A Investors and its respective Affiliates (or in case of Hillhouse NEV Holdings Limited or Shunwei, its respective Investment Affiliates) may enter into any agreement,
arrangement or understanding with, or otherwise acquire or hold Equity Securities in, such private company which carries out the Competing Business within the applicable Investor Restrictive Investment Period, and (d) the restrictions under
this Section 12.15 (ii) shall exclude any agreement, arrangement or understanding with, or any acquisition of or investment in any private company which carries out the Competing Business, (A) by any Series A Investor which has occurred
prior to the closing of the purchase and sale of its respective Preferred Shares, and (B) by Tencent though the fund currently being formed by an Affiliate of Tencent and certain third parties, the name and basic information of which fund shall
be disclosed to the Company upon its establishment. 

  
 -55- 

	 	(iii)	refer a business or investment opportunity of any nature (the “Corporate Opportunity”) to any Person whatsoever (whether or not having any affiliation to the Group Companies), except for a
Corporate Opportunity that is expressly directed to the Investor Director in his capacity as a Director of the Company (the “Company Opportunity”), provided that a Company Opportunity is referred to the Company on a first refusal
basis, the Company acknowledges and agrees that such Investor Director shall not be in breach of any fiduciary duty or duty of confidentiality for referring a Corporate Opportunity to any person. Any Company Opportunity not pursued by the Company
may be referred to any other Person by such Investor and such Investor Director. 

  

	12.16   Business	Cooperation with Tencent 

 Each of the Warrantors jointly and severally undertakes to
Tencent that, as long as Tencent holds any Preferred Shares in the Company, in the event any Group Company proposes to cooperate with any internet company (the “Proposed Cooperation”), such Group Company shall first notify
Tencent of the scope and terms of the Proposed Cooperation in reasonable detail. Tencent shall have the right to request such Group Company to grant a cooperation opportunity covering substantially similar scope and terms to Tencent or an
appropriate Affiliate of Tencent, and such Group Company shall grant such cooperation opportunity to Tencent or an appropriate Affiliate of Tencent, or cause any existing cooperation between any Group Company and Tencent (or an Affiliate of Tencent)
to cover substantially similar scope and terms of the Proposed Cooperation, in each case on the terms and conditions no less favorable than those of the Proposed Cooperation (the “Special Cooperation Right”). The Warrantors further
agree that in case Xiaomi Corporation or any of its Affiliates (other than Shunwei) becomes a holder of Preferred Shares of the Company, as long as Xiaomi Corporation or such Affiliate holds any Preferred Shares in the Company, the Warrantors shall,
and shall cause the Group Companies to, grant Xiaomi Corporation or such Affiliate the Special Cooperation Right identical to the Special Cooperation Right granted to Tencent hereunder. 

 

	12.17   Sole	Distributor 

 Wholly-owned PRC subsidiaries of the Company shall be the only distributors
of any products manufactured by any PRC Group Company and/or any partner of the Group, including but not limited to Anhui Jianghuai Automobile Co., Ltd. 

	12.18   Intellectual	Property 

 All Company Owned IP and Company Registered IP shall be owned by, licensed to,
registered for and/or applied for in the name of any Group Company. 

  
 -56- 

	12.19   Non-Compete	

  

	 	(i)	The Founder hereby undertakes and the Warrantors shall cause the Founder to undertake to the Company and the Investors that for a period as long as the Founder holds any position of chairman, director or management
personnel in any Group Company, and at any time prior to the third anniversary from the date he ceases to hold such position in any Group Company (whichever is later), he will not, without the prior written consent of the holders of at least 75% of
the voting power of the then outstanding Series A-2 Preferred Shares, Series A-3 Preferred Shares, Series B Preferred Shares, Series C Preferred Shares and Series D
Preferred Shares (voting together as a single class and calculated on as-converted basis) either on his own account or through any of his Affiliates or in conjunction with or on behalf of any other Person:

  

	 	(1)	Unless the employment of the Founder is terminated by any Group Company without Cause, carry on or be engaged, concerned or interested directly or indirectly whether as shareholder, director, employee, partner, agent,
advisor or otherwise carry on any business in direct competition with the primary business then operated by the Group Companies in the PRC and any other geographic territory in which the Group Companies then actively operate (except for the
Founder’s interest in
湖北蔚来长江新能源产业发展基金合伙企业(有限合伙));

  

	 	(2)	Solicit or entice away or attempt to solicit or entice away from any Group Company, any Person who is or shall at any time within twelve (12)    months prior to such solicitation have been a
customer, client, representative or agent of such Group Company or in the habit of dealing with such Group Company; or 

  

	 	(3)	Employ, solicit or entice away or attempt to employ, solicit or entice away from any Group Company, any person who is or shall have been at the date of or within twelve (12) months prior to such cessation an
officer, manager, consultant or employee of any such Group Company whether or not such person would commit a breach of contract by reason of leaving such employment (other than pursuant to advertisements of general circulation). 

 

	 	(ii)	Each and every obligation under this Section 12.19 shall be treated as a separate obligation and shall be severally enforceable as such and in the event of any obligation or obligations being or becoming
unenforceable in whole or in part, such part or parts which are unenforceable shall be deleted from such section and any such deletion shall not affect the enforceability of the remainder parts of such section. 

 

	 	(iii)	If any restrictions in this Section 12.19 shall be adjudged to be invalid or unenforceable as being in excess of what is reasonably required for the protection of the Group or the Investors, but would be valid if
parts of this Section were deleted or the scope herein reduced, all restrictions in this Section shall apply with such modifications as may be necessary to make them legally valid and effective. 

  
 -57- 

 The Warrantors shall cause each Key Employee of the Group Companies to comply with the non-compete agreement executed between such Key Employee and the relevant Group Company. 
 12.20 Triple-Class
Structure and Super Voting Rights  
 The Company shall procure, and each Shareholder shall procure that, immediately prior to the
closing of a Qualified IPO of the Company: 
  

	 	(i)	except for the Ordinary Shares and Preferred Shares beneficially owned by Tencent and the Founder Vehicles, each fully paid Preferred Share shall be converted into the number of fully paid and non-assessable Ordinary Share(s) to be designated as class A Ordinary Share(s) based on the applicable Preferred Share Conversion Price then in effect, and each fully paid and
non-assessable Ordinary Share held by the other Shareholders shall be designated as class A Ordinary Share, as the case may be. Each class A Ordinary Share shall be entitled to one (1) vote on all matters
subject to the vote at general meetings of the Company; 

  

	 	(ii)	each fully paid Preferred Share held by Tencent shall be converted into the number of fully paid and non-assessable Ordinary Share(s) to be designated as class B Ordinary Share(s)
based on the applicable Preferred Share Conversion Price then in effect, and each fully paid and non-assessable Ordinary Share held by Tencent shall be designated as Class B Ordinary Share, as the case
may be. Each class B Ordinary Share shall be entitled to four (4) votes on all matters subject to the vote at general meetings of the Company; and 

  

	 	(iii)	each fully paid Preferred Share held by the Founder Vehicles shall be converted into the number of fully paid and non-assessable Ordinary Share(s) to be designated as class C
Ordinary Share(s) based on the applicable Preferred Share Conversion Price then in effect, and each fully paid and non-assessable Ordinary Share held by Founder Vehicles shall be designated as Class C
Ordinary Share, as the case may be. Each class C Ordinary Share shall be entitled to eight (8) votes on all matters subject to the vote at general meetings of the Company. 

 

	12.21 Stock	Incentive Plan Arrangements 

 Subject to Section 10 in this Agreement, the Company
shall procure, and each Shareholder shall procure that: 
  

	 	(i)	immediately after the Initial Closing, the aggregate number of Ordinary Shares (and/or options or warrants therefore) reserved for issuance to officers, directors, employees and consultants of the Group Companies
pursuant to the Stock Incentive Plans shall be increased by 23,000,000 Ordinary Shares; and 

  

	 	(ii)	as soon as practicable after the Initial Closing, a new Stock Incentive Plan shall be adopted, which shall be effective for a period of five (5) years starting from January 1 of the year following the
completion of a Qualified IPO and shall include appropriate provisions to the effect that the maximum number of shares which may be issued pursuant to such Stock Incentive Plan shall be automatically increased each year by the number of shares
representing 1.5% of the then total issued and outstanding share capital of the Company as of the end of each preceding year. 

  
 -58- 

	13.	MISCELLANEOUS 

  

	13.1	UBS PLNs 

  

	 	(i)	Notwithstanding any provision of any Series D Transaction Document, each Party hereby acknowledges and agrees as follows: 

(1) UBS AG, London Branch (the “UBS”) or its Affiliates intends, and UBS or its Affiliates is permitted, to enter into PLNs;

 (2) UBS shall procure that a PLN Beneficiary shall not enter into a PLN Transfer unless the prior written consent of the Company is
obtained; provided that such prior written consent from the Company shall no longer be required after the end of the “market stand-off” period under Section 6.3 in this Agreement (such period
not to exceed one hundred and eighty (180) days from the date of the final prospectus relating to the Company’s IPO); 
 (3) UBS
undertakes to include in the documentation that it or its Affiliate enters into with a PLN Beneficiary, a restriction on PLN Beneficiaries transferring or having the effect of transferring, to any Person, in whole or in part, all or any of the
economic benefits, interests, risks or other consequences of the relevant PLN without first obtaining the prior consent of UBS, and UBS undertakes not to provide such consent unless it receives the prior written consent of the Company; and 

(4) UBS may disclose the Confidential Information (including for the avoidance of doubt, the documents, reports and information referred to in
Section 8.1 in this Agreement) that UBS has obtained in its capacity as a Shareholder to a PLN Beneficiary, provided that (a) UBS shall have included in the documentation that it or its Affiliate enters into with a PLN Beneficiary the
confidential nature of the Confidential Information and shall also have provided in such documentation that a PLN Beneficiary shall be bound by the nondisclosure obligations under the Series D Transaction Documents to the same extent as though the
PLN Beneficiary were a party thereto and (b) UBS and/or the relevant PLN Beneficiary grants third party rights to the Company under the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the Laws of Hong Kong and all applicable laws
and regulations) to enforce against such PLN Beneficiary any breach of such nondisclosure obligations by such PLN Beneficiary. 
  

	 	(ii)	Without prejudice to the generality of Section 13.1(i) in this Agreement, notwithstanding any provision of any Series D Transaction Document, each Party hereby specifically acknowledges and agrees that the
“market stand-off” restrictions under Section 6.3(ii) in this Agreement shall not apply to a PLN, provided, however, that for the avoidance of doubt, UBS, as a Shareholder of the Company, shall
in all other respects be subject to the “market stand-off” restrictions under Section 6.3(ii) in this Agreement. 

  
 -59- 

	 	(iii)	Without prejudice to the generality of Section 13.1(i) in this Agreement, notwithstanding any provision of any Series D Transaction Document, each Party hereby specifically acknowledges and agrees that, in respect
of a PLN or proposed PLN (or a PLN Transfer or proposed PLN Transfer), (i) no PLN Beneficiary shall be required to execute a Deed of Adherence as result of Section 2.1(v) of the Right of First Refusal &
Co-Sale Agreement and (ii) the rights of first refusal under Section 2.2 of the Right of First Refusal & Co-Sale Agreement and the right of co-sale under Section 2.3 of the Right of First Refusal & Co-Sale Agreement shall not apply, provided, however, that for the avoidance of doubt, UBS, as a
Shareholder of the Company, shall in all other respects be subject to the rights of first refusal under Section 2.2 of the Right of First Refusal & Co-Sale Agreement and the right of co-sale under Section 2.3 of the Right of First Refusal & Co-Sale Agreement. 

 

	13.2	Effectiveness and Termination 

  

	 	(i)	This Agreement shall take effect as of the Initial Closing Date with respect to all the Parties which have duly executed this Agreement as of the Initial Closing, and shall take effect as of the applicable Additional
Closing Date with respect to any Additional Series D Investor which has duly executed the Deed of Adherence with the Company as of an Additional Closings, provided however that (1) in the event that any Series D Investor (including any
Additional Series D Investor) fails to pay any portion of its Series D Investment Amount (as defined in the Purchase Agreement or as specified in the applicable Deed of Adherence, as the case may be) in full upon the applicable Closing and the
Company has amended the register of members in accordance with Sections 2.4(i)(d) or 2.4(ii)(e) of the Purchase Agreement and/or the Memorandum and Articles to reflect the forfeiture of the Series D Preferred Shares of such Series D Investor
corresponding to the unpaid Series D Investment Amount, then this Agreement shall have effect with respect to such Series D Investor only to the extent of its unforfeited Series D Preferred Shares, and (2) in the event that any Shareholder
ceases to be a Shareholder of the Company, it shall no longer be bound by the provisions of this Agreement and such Shareholder’s name shall be removed from any list or register of members of the Company, provided that Sections 12.9
(Confidentiality), 12.10 (No use of Series D Investors’ Name or Logo), 12.11 (No Use of Series C Investors’ Name or Logo), 12.12 (No Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series A-3 Investors’ Name or Logo), 12.14 (No Use of Series A-2 Investors’ Name or Logo), 13.5 (Governing Law) and 13.6 (Dispute Resolution) shall survive.

  

	 	(ii)	This Agreement shall terminate upon mutual consent of all the Parties hereto. The provisions of Sections 7 (Preemptive Right), 8 (Information and Inspection Rights), 9 (Corporate Governance), 10
(Protective Provisions) and 11 (Drag-Along Rights) shall terminate on the consummation of a Qualified IPO. If this Agreement terminates, the Parties shall be released from their obligations under this Agreement, except in respect of any
obligation stated, explicitly or otherwise, to continue to exist after the termination of this Agreement (including without limitation those under Section 2 through 6, Section 12 (Additional Covenants) and this Section 13). If
any Party breaches this Agreement before the termination of this Agreement, it shall not be released from its obligations arising from such breach on termination. 

  
 -60- 

	13.3	Further Assurances 

 Upon the terms and subject to the conditions herein, each of the
Parties hereto agrees to use its reasonable best efforts to take or cause to be taken all action, to do or cause to be done, to execute such further instruments, and to assist and cooperate with the other Parties hereto in doing, all things
necessary, proper or advisable under applicable Laws or otherwise to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated by this Agreement and, to the extent reasonably requested by another Party,
to enforce rights and obligations pursuant hereto. 
  

	13.4	Assignments and Transfers; No Third Party Beneficiaries 

 Except as otherwise provided
herein, this Agreement and the rights and obligations of the Parties hereunder shall inure to the benefit of, and be binding upon, their respective successors, assigns and legal representatives, but shall not otherwise be for the benefit of any
third party. Subject as otherwise provided herein, the rights of any Investor hereunder are assignable to any Person in connection with the transfer (which transfer does not breach any provision of the Series D Transaction Documents and any
applicable Laws) of Equity Securities held by such Investor but only to the extent of such transfer, and any such transferee shall execute and deliver to the Company a Deed of Adherence in the form attached hereto as Exhibit A becoming a party
hereto as a “Party,” a “Shareholder,” and an “Investor” hereunder and under the applicable Series D Transaction Documents, subject to the terms and conditions hereof and thereof. Subject to the foregoing, this Agreement
and the rights and obligations of any Party hereunder shall not otherwise be assigned without the mutual written consent of the other Parties. 

Notwithstanding any provision to the contrary in this Agreement, the Parties hereby acknowledge and agree that Padmasree shall be able to
tender of any of her Series A-3 Preferred Shares from time to time for all or a portion of any amounts due to the Company pursuant to the Loan and Security Agreement. 

 

	13.5	Governing Law 

 This Agreement shall be governed by and construed under the Laws of Hong
Kong, without regard to principles of conflict of laws thereunder. 
  

	13.6	Dispute Resolution. 

  

	 	(i)	Any dispute, controversy or claim (each, a “Dispute”) arising out of or relating to this Agreement, or the interpretation, breach, termination, validity or invalidity thereof, shall be referred to
arbitration upon the demand of either party to the dispute with notice (the “Arbitration Notice”) to the other. 

  
 -61- 

	 	(ii)	The Dispute shall be settled by arbitration in Hong Kong by the Hong Kong International Arbitration Centre (the “HKIAC”) in accordance with the Hong Kong International Arbitration Centre Administered
Arbitration Rules (the “HKIAC Rules”) in force when the Arbitration Notice is submitted in accordance with the HKIAC Rules. The arbitration tribunal shall consist of three (3) arbitrators to be appointed according to the HKIAC
Rules. 

  

	 	(iii)	To the extent that the HKIAC Rules are in conflict with the provisions of this Section 13.6, the provisions of this Section 13.6 shall prevail. 

 

	 	(iv)	The arbitration shall be conducted in English. Each party to the arbitration shall cooperate with each other party to the arbitration in making full disclosure of and providing complete access to all information and
documents requested by such other party in connection with such arbitral proceedings, subject only to any confidentiality obligations binding on such party. 

  

	 	(v)	The award of the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award. 

 

	 	(vi)	The arbitral tribunal shall decide any Dispute submitted by the parties to the arbitration strictly in accordance with the substantive Law of Hong Kong (without regard to principles of conflict of Laws thereunder) and
shall not apply any other substantive Law. 

  

	 	(vii)	Any party to the Dispute shall be entitled to seek preliminary injunctive relief, if possible, from any court of competent jurisdiction pending the constitution of the arbitral tribunal. 

 

	 	(viii)	During the course of the arbitral tribunal’s adjudication of the Dispute, this Agreement shall continue to be performed except with respect to the part in dispute and under adjudication. 

 

	13.7	Notices 

 Any notice required or permitted pursuant to this Agreement shall be given in
writing and shall be given either personally or by sending it by next-day or second-day courier service, fax, electronic mail or similar means to the address of the
relevant Party as shown on Schedule 2 (Address for Notices) (or at such other address as such Party may designate by fifteen (15) days’ advance written notice to the other Parties to this Agreement given in accordance with this
Section 13.7). Where a notice is sent by next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing, pre-paying and sending by next-day or second-day service through an internationally-recognized courier a letter containing the notice,
with a written confirmation of delivery, and to have been effected at the earlier of (i) delivery (or when delivery is refused) and (ii) expiration of two (2) Business Days after the letter containing the same is sent as aforesaid.
Where a notice is sent by fax or electronic mail, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and to have been
effected on the day the same is sent as aforesaid, if such day is a Business Day and if sent during normal business hours of the recipient, otherwise the next Business Day. Notwithstanding the foregoing, to the extent a “with a copy to”
address is designated, notice must also be given to such address in the manner above for such notice, request, consent or other communication hereunder to be effective. 

  
 -62- 

	13.8     Expenses	

 If any action at law or in equity is necessary to enforce or interpret the terms of
this Agreement, the prevailing Party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such Party may be entitled. 

 

	13.9     Rights	Cumulative; Specific Performance 

 Each and all of the various rights, powers and
remedies of a Party hereto will be considered to be cumulative with and in addition to any other rights, powers and remedies which such Party may have at Law or in equity in the event of the breach of any of the terms of this Agreement. The exercise
or partial exercise of any right, power or remedy will neither constitute the exclusive election thereof nor the waiver of any other right, power or remedy available to such Party. Without limiting the foregoing, the Parties hereto acknowledge and
agree irreparable harm may occur for which money damages would not be an adequate remedy in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is
accordingly agreed that the Parties shall be entitled to apply for injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement. 

 

	13.10   Successor	Indemnification 

 If any Warrantor or any of its successors or assignees consolidates
with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of such Warrantor
assume the obligations of such Warrantor with respect to indemnification of the Investor Director as in effect immediately before such transaction, whether such obligations are contained in the Charter Documents, or elsewhere, as the case may be.

  

	13.11   Severability	

 In case any provision of the Agreement shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. If, however, any provision of this Agreement shall be invalid, illegal, or unenforceable under any such applicable Law in any
jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such Law, or, if for any reason it is not deemed so modified, it shall be invalid, illegal, or unenforceable only to the extent of such
invalidity, illegality, or limitation on enforceability without affecting the remaining provisions of this Agreement, or the validity, legality, or enforceability of such provision in any other jurisdiction. 

  
 -63- 

	13.12   Amendments	and Waivers 

 Any provision in this Agreement may be amended and the observance thereof
may be waived (either generally or in a particular instance and either retroactively or prospectively), only by the written consent of (i) the Company; (ii) the holders of at least a majority of the then issued and outstanding Series A-1 Preferred Shares; (iii) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series A-2 Preferred Shares; (iv) the holders of at
least a majority of the then issued and outstanding Series A-3 Preferred Shares; (v) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series B Preferred Shares,
(vi) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series C Preferred Shares, , (vii) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series D Preferred Shares, and
(viii) Prime Hubs; provided, however, that no amendment or waiver shall be effective or enforceable in respect of any Ordinary Holder or a holder of Preferred Shares if such amendment or waiver affects such Ordinary Holder or such holder of
Preferred Shares, respectively, materially and adversely differently from the other Ordinary Holders or the other holders of the Preferred Shares of the same class or series, respectively, unless such Ordinary Holder or such holder of Preferred
Shares consents in writing to such amendment or waiver. Notwithstanding the foregoing, any Party may waive any of its/his rights hereunder by an instrument in writing signed by such Party without obtaining the consent of any other Parties. Any
amendment or waiver effected in accordance with this Section 13.12 shall be binding upon all the Parties hereto. 
  

	13.13   No	Waiver 

 Failure to insist upon strict compliance with any of the terms, covenants, or
conditions hereof will not be deemed a waiver of such term, covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any right, power or remedy hereunder at any one or more times be deemed a
waiver or relinquishment of such right, power or remedy at any other time or times. 
  

	13.14   Delays	or Omissions 

 No delay or omission to exercise any right, power or remedy accruing to
any Party under this Agreement, upon any breach or default of any other Party under this Agreement, shall impair any such right, power or remedy of such non-breaching or
non-defaulting Party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of
any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any Party of any breach or default under this
Agreement, or any waiver on the part of any Party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. 

  
 -64- 

	13.15   No	Presumption 

 The Parties acknowledge that any applicable Law that would require
interpretation of any claimed ambiguities in this Agreement against the Party that drafted it has no application and is expressly waived. If any claim is made by a Party relating to any conflict, omission or ambiguity in the provisions of this
Agreement, no presumption or burden of proof or persuasion will be implied because this Agreement was prepared by or at the request of any Party or its counsel. 
  

	13.16   Counterparts	

 This Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. Facsimile and e-mailed copies of signatures shall be deemed to be originals for purposes of the effectiveness of this
Agreement. 
  

	13.17   Entire	Agreement 

 This Agreement (including the Exhibits hereto) constitutes the full and
entire understanding and agreement among the Parties with regard to the subjects hereof, and supersedes all other agreements between or among any of the Parties with respect to the subject matter hereof. Without limiting the generality of the
foregoing, this Agreement supersedes, in its entirety, the Prior Shareholders Agreement, which shall terminate and have no further force or effect whatsoever as of the date of effectiveness of this Agreement, and the Parties hereby irrevocably waive
any and all rights that they may have against any other party under the Prior Shareholders Agreement in exchange for their rights hereunder. 
  

	13.18   Control	

 In the event of any conflict or inconsistency between any of the terms of this
Agreement and any of the terms of any of the Charter Documents of any of the Group Companies and Prime Hubs, or in the event of any dispute related to any such Charter Document, the terms of this Agreement shall prevail in all respects as among all
the Parties other than the Company, the Parties shall give full effect to and act in accordance with the provisions of this Agreement over the provisions of the Charter Documents, and the Parties hereto shall exercise all voting and other rights and
powers (including to procure any required alteration to such Charter Documents to resolve such conflict or inconsistency) to make the provisions of this Agreement effective, and not to take any actions that impair any provisions in this Agreement.

  

	13.19   Performance	

 The Ordinary Holders irrevocably agree to cause and guarantee the performance by each
Warrantor of all of its respective covenants and obligations under this Agreement. 
  

	13.20   Aggregation	of Shares 

 All Shares held or acquired by any Affiliates shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement. 

  
 -65- 

	13.21   Adjustments	for Share Splits, Etc 

 Wherever in this Agreement there is a reference to a specific
number of Shares of the Company, then, upon the occurrence of any subdivision, combination or share dividend of the relevant class or series of the Shares, the specific number of shares so referenced in this Agreement shall automatically be
proportionally adjusted to reflect the effect on the outstanding shares of such class or series of Shares by such subdivision, combination or share dividend. 
  

	13.22   Grant	of Proxy 

 Upon the failure of any Ordinary Holder to vote the Equity Securities of the
Company held thereby, to implement the provisions of and to achieve the purposes of this Agreement, such Ordinary Holder hereby grants to a Person designated by the Company a proxy in all Equity Securities of the Company held by it/him to vote all
such Equity Securities to implement the provisions of and to achieve the purposes of this Agreement. 
  

	13.23   Rights	and Obligations of Holders of Preferred Shares 

 Under the Series D Transaction
Documents, (i) the obligations of the holders of the Preferred Shares shall be several and not joint, (ii) the Series A-1 Preferred Shares, the Series A-2
Preferred Shares, and the Series A-3 Preferred Shares shall rank pari passu with each other, except as otherwise provided in the Series D Transaction Documents, (iii) the Series B Preferred Shares shall
rank prior and in preference to the Series A Preferred Shares, except as otherwise provided in the Series D Transaction Documents, (iv) the Series C Preferred Shares shall rank prior and in preference to the Series B Preferred Shares and the
Series A Preferred Shares, except as otherwise provided in the Series D Transaction Documents, and (v) the Series D Preferred Shares shall rank prior and in preference to the Series C Preferred Shares, the Series B Preferred Shares and the
Series A Preferred Shares, except as otherwise provided in the Series D Transaction Documents. 
  

	13.24   Use	of English Language 

 This Agreement has been executed and delivered in the English
language. Any translation of this Agreement into another language shall have no interpretive effect. All documents or notices to be delivered pursuant to or in connection with this Agreement shall be in the English language or, if any such document
or notice is not in the English language, accompanied by an English translation thereof, and the English language version of any such document or notice shall control for purposes thereof. 

 

	13.25   Replacement	

 The Parties agree that upon the Initial Closing, this Agreement shall supersede and
replace the Prior Shareholders Agreement in its entirety, and the Prior Shareholders Agreement shall terminate and have no further force or effect as of the Initial Closing Date. 

  
 -66- 

	13.26 Representations	and Warranties 

  

	 	(i)	Each Party hereby represents and warrants to each other Party, as of the date hereof, and as of the effective date of this Agreement (with respect to an Additional Series D Investor, as of the Additional Closing Date),
as follows: 

  

	 	(1)	such Party, if not a natural person, is duly organized, validly existing and in good standing under the applicable Law of its jurisdiction of organization/incorporation; 

 

	 	(2)	such Party is a natural person, or is a corporate body with the legal capacity, power, authority and right to execute, deliver and perform its obligations under this Agreement, and all actions on its part necessary for
the authorization, execution, delivery of and the performance of all of its obligations under this Agreement have been taken; 

  

	 	(3)	this Agreement will when executed be a legal, valid and binding obligation, enforceable against it in accordance with its terms, except where such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ rights generally; and 

  

	 	(4)	the execution and delivery by such Party of this Agreement and the consummation by it of all the transactions contemplated hereunder do not (i) breach or constitute (or with notice or lapse of time or both
constitute) a default under its constitutional documents, the Prior Shareholders Agreement or any material contract or agreement to which such Party is bound; and (iii) result in a violation or breach of or constitute (or with notice or lapse
of time or both constitute) a default under any applicable Law by which such Party or any of its assets is bound. 

  

	13.27 Exclusion	of Contracts (Rights of Third Parties) Ordinance 

 Save as otherwise expressly provided
hereunder, a Person who is not a Party to this Agreement has no right under the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the Laws of Hong Kong ) to enforce this Agreement. 

[The remainder of this page has been intentionally left blank.] 

  
 -67- 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized representatives to
execute this Agreement as of the date and year first above written. 
  

							
	COMPANY:	 		 	NIO INC.
				
		 		 	By:	 	 /s/ QIN Lihong

		 		 	Name:	 	QIN Lihong

		 		 	Title:	 	Director

  

							
	HK COMPANY:	 		 	NIO NEXTEV LIMITED
				
		 		 	By:	 	 /s/ QIN Lihong

		 		 	Name:	 	QIN Lihong

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	XPT:	 		 	XPT LIMITED	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Director	 	
				
	XPT TECHNOLOGY:	 		 	XPT TECHNOLOGY LIMITED	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Director	 	
				
	XPT US:	 		 	XPT INC.	 	
					
		 		 	By:	 	

	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	SHANGHAI NEXTEV:	 		 	NIO CO., LTD.	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	JIANGSU WEIRAN:	 		 	XPT (JIANGSU) INVESTMENT CO., LTD.	 	
					
		 		 	By:	 	 /s/ LI Bin
	 	

		 		 	Name:	 	LI Bin

	 	
		 		 	Title:	 	Legal Representative	 	
				
	SHANGHAI WEILAN:	 		 	SHANGHAI XPT TECHNOLOGY CO., LTD.	 	
					
		 		 	By:	 	 /s/ LI Bin
	 	

		 		 	Name:	 	LI Bin

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

											
	XPT NANJING TECHNOLOGY	 		 	 XPT (NANJING) E-POWERTRAIN TECHNOLOGY CO., LTD.
	 	

									
					
		 		 	By:	 	/s/ LI Bin	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	XPT NANJING ENERGY	 		 	 XPT (NANJING) ENERGY STORAGE SYSTEM CO., LTD.

					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NIO TECHNOLOGY	 		 	NIO TECHNOLOGY CO., LTD.	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NEXTEV USER	 		 	 NEXTEV USER ENTERPRISE LIMITED
	 	

									
					
		 		 	By:	 	 /s/ QIN Lihong
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
 SHANGHAI AUTO DISTRIBUTION SHANGHAI NIO SALES
AND SERVICE CO., LTD. 
  

					
	By:	 	
/s/ QIN Lihong                 
       
	 	

	Name:	 	
	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NEXTEV POWER	 		 	NEXTEV POWER EXPRESS LIMITED	 	

									
					
		 		 	By:	 	 /s/ QIN Lihong
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	HUBEI INVESTMENT	 		 	NIO ENERGY INVESTMENT (HUBEI) CO., LTD.
					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	SHANGHAI ENERGY	 		 	SHANGHAI NIO ENERGY TECHNOLOGY CO., LTD.
					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	WUHAN ENERGY	 		 	WUHAN NIO ENERGY CO., LTD.	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	BEIJING LIBITE	 		 	BEIJING LIBITE AUTO TECHNOLOGY CO., LTD.
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NANJING WEILONG:	 		 	XTRONICS (Nanjing) Automotive Intelligent Technology Co., Ltd.
					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	US COMPANY	 		 	NIO USA, INC.
					
		 		 	By:	 	 /s/ Padmasree Warrior
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	GERMAN COMPANY	 		 	NIO GMBH
				
		 		 	By:	 	 /s/ ZHANG Hui

		 		 	Name:	 	ZHANG Hui

		 		 	Title:	 	Managing Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	UK COMPANY	 		 	NIO NEXTEV (UK) LTD
				
		 		 	By:	 	 /s/ Hui Zhang

		 		 	Name:	 	Hui Zhang
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	PRIME HUBS	 		 	 PRIME HUBS LIMITED
  

		 		 	By:	 	 /s/ QIN Lihong

		 		 	Name:	 	QIN Lihong

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	FOUNDER	 		 	 LI BIN

  

		 		 	By:	 	 /s/ LI Bin

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR	 		 	 ORIGINAL WISH LIMITED
  

		 		 	By:	 	 /s/ LI Bin

		 		 	Name:	 	LI Bin

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR	 		 	 MOBIKE GLOBAL LTD.
  

		 		 	By:	 	 /s/ LI Bin

		 		 	Name:	 	LI Bin

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	ENERGY LEE LIMITED

							
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HILLHOUSE NEV HOLDINGS LIMITED
  

		 		 	By:	 	 /s/ Meng Shan

		 		 	Name:	 	Meng Shan
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	SHUNWEI TMT II LIMITED
				
		 		 	By:	 	 /s/ Koh Tuck Lye

		 		 	Name:	 	Koh Tuck Lye
		 		 	Title:	 	Director
			
		 		 	SHUNWEI GROWTH II LIMITED
				
		 		 	By:	 	 /s/ Koh Tuck Lye

		 		 	Name:	 	Koh Tuck Lye
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 SMART GROUP GLOBAL LIMITED
  

		 		 	By:	 	 /s/ Lin Qiang Dong

		 		 	Name:	 	Lin Qiang Dong
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	    MOUNT PUTUO INVESTMENT LIMITED

							
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 SEQUOIA CAPITAL CHINA GF HOLDCO III-A, LTD.

 

		 		 	By:	 	 /s/ Ip Siu Wai Eva

		 		 	Name:	 	Ip Siu Wai Eva
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 JOY CAPITAL I, L.P.
  

		 		 	By:	 	Joy Capital I GP, L.P.
		 		 		 	its general partner
				
		 		 	By:	 	Joy Capital GP, Ltd.
		 		 		 	its general partner
				
		 		 	By:	 	 /s/ LIU ERHAI

		 		 	Name:	 	LIU ERHAI
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 		 	 PADMASREE WARRIOR
  

		 		 		 	 /s/ Padmasree Warrior

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 ANDERSON INVESTMENTS PTE. LTD.
  

		 		 	By:	 	 /s/ Rohit Sobti

		 		 	Name:	 	Rohit Sobti
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 TPG GROWTH III SF PTE. LTD.
  

		 		 	By:	 	 /s/ Hua Fung Teh

		 		 	 Name:
 Title:
	 	 Hua Fung Teh
 Authorised Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 BLUESTONE COMPANY LIMITED
  

		 		 	By:	 	 /s/ Tay Chee Keong Jeremiah Jeremy

		 		 	Name:	 	Tay Chee Keong Jeremiah Jeremy
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR	 	 MAGIC STONE ALTERNATIVE PRIVATE EQUITY FUND,
L.P.

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 ORIENT HONTAI LIMITED
  

		 		 	By:	 	 /s/ Tony Ma

		 		 	Name:	 	Tony Ma

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 GOLDEN BRICK CAPITAL PRIVATE EQUITY FUND II L.P.

 

		 		 	By:	 	 

  

		 		 	 Name:
 Title:
	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	    ULTIMATE LENOVO LIMITED

							
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HH RSV-X HOLDINGS LIMITED
  

		 		 	By:	 	 /s/ Jennifer Neo

		 		 	Name:	 	Jennifer Neo
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 SCC GROWTH IV HOLDCO A, LTD.
  

		 		 	By:	 	 /s/ Ip Siu Wai Eva

		 		 	Name:	 	Ip Siu Wai Eva
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 PALACE INVESTMENTS PTE. LTD.
  

		 		 	By:	 	 /s/ Choun Chee Kong

		 		 	Name:	 	Choun Chee Kong
		 		 	Title:	 	Authorised signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	GRANDFIELD INVESTMENT LTD.
				
		 		 	By:	 	 /s/ Wong Kok Wai         06 NOV 2017

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 		 	
		 		 	 IDG CHINA VENTURE CAPITAL FUND IV L.P.

 

		 		 	By:	 	IDG China Venture Capital Fund IV Associates L.P.,
		 		 		 	its General Partner
				
		 		 	By:	 	IDG China Venture Capital Fund GP IV Associates Ltd.,
		 		 		 	its General Partner
				
		 		 	By:	 	 /s/ Chi Sing HO

		 		 	Name:	 	Chi Sing HO
		 		 	Title:	 	Authorized Signatory
			
		 		 	IDG CHINA IV INVESTORS L.P.
				
		 		 	By:	 	IDG China Venture Capital Fund GP IV Associates Ltd.,
		 		 		 	its General Partner
				
		 		 	By:	 	 /s/ Chi Sing HO

		 		 	Name:	 	Chi Sing HO
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	BRIGHT SKY II, L.P.
			
		 		 	By Bright Sky Partners Limited,
		 		 	its General Partner
				
		 		 	By:	 	 /s/ Wong Kok Wai         06 NOV 2017

		 		 	Name:	 	Wong Kok Wai
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	    LONG WINNER INVESTMENT LIMITED

							
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	BAIDU CAPITAL L.P.

							
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	WEST CITY ASIA LIMITED

							
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 TANZANITE GEM HOLDINGS LIMITED
  

		 		 	By:	 	 /s/ Steven Glenn

		 		 	Name:	 	Steven Glenn
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HAIXIA NEV INTERNATIONAL LIMITED PARTNERSHIP (formerly known as HAIXIA NIO INTERNATIONAL LIMITED PARTNERSHIP)

 

		 		 		 	 For and on behalf of 
 Haixia NEV
International Limited Partnership

				
		 		 	By:	 	

		 		 	Name:	 	Haixia Capital Management Ltd,
		 		 	Title:	 	Authorised Signatory of its General Partner Haixia NEV International Limited Partnership

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HAITONG INTERNATIONAL INVESTMENT HOLDINGS LIMITED

 

		 		 	By:	 	 /s/ Xi DENG

		 		 	Name:	 	Xi DENG
		 		 	Title:	 	Managing Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	NEW MARGIN CAPITAL HONG KONG CO.,
		 	LIMITED 

			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	   IMAGE FRAME INVESTMENT (HK) LIMITED 

					
			
		 	By:	 	

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 ZHIDE EV INVESTMENT LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	     CHINAEQUITY SMART TRAVEL CO., LTD.

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	   TOTAL PRESTIGE INVESTMENT LIMITED 

					
			
		 	By:	 	 /s/ Wong Kok Wai         06 NOV 2017

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	CYBER TYCOON LIMITED 
			
		 	By:	 	 /s/ Chi Sing HO

		 	Name:	 	Chi Sing HO
		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	   HONOR BEST INTERNATIONAL LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 CHAMPION ELITE GLOBAL LIMITED
 

			
		 	By:	 	 /s/ Jenny Wenjie WU

		 	Name:	 	Jenny Wenjie WU
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 CHINA INDUSTRIAL INTERNATIONAL TRUST ASSET MANAGEMENT COMPANY LIMITED, (formerly known as CHINA INVESTMENT ASSET
MANAGEMENT LIMITED)
 

			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	HF HOLDINGS LIMITED 
			
		 		 	 For and on behalf of
 HF Holdings
Limited

			
		 	By:	 	 

 Authorized Signature(s)
  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	TEA LEAF LIMITED
			
		 	By:	 	 /s/ Karen Ellerbe

		 	Name:	 	Karen Ellerbe
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 BLISSFUL DAYS HOLDINGS LIMITED
 

			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	GUANGFAXINDE CAPITAL MANAGEMENT LIMITED 

				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	BLUEFUTURE FUND L.P.
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	UBS AG, LONDON BRANCH
				
		 		 	By:	 	 /s/ Saad Slaoui

		 		 	Name:	 	Saad Slaoui
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	 /s/ David Innerdale

		 		 	Name:	 	David Innerdale
		 		 	Title:	 	Managing Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	KEEN EAGLE CAPITAL INVESTMENT LIMITED 

				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 CHINA OCEANWIDE INTERNATIONAL ASSET MANAGEMENT LIMITED
 

				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	CHINA MERCHANTS FORTUNE 100 ALTERNATIVE INVESTMENT SP	 	
					
		 		 	By:	 	 /s/ Bai Haifeng
	 	

		 		 	Name:	 	Bai Haifeng	 	
		 		 	Title:	 	CEO	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	MORESPARK LIMITED
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	LEAP PROSPECT LIMITED
				
		 		 	By:	 	 /s/ Ling Kay Rodney Tsang

		 		 	Name:	 	Ling Kay Rodney Tsang
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	PV VISION LIMITED
				
		 		 	By:	 	 /s/ Ena Leung

		 		 	Name:	 	Ena Leung
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	SERENITY WL HOLDINGS LTD.
				
		 		 	By:	 	 /s/ Wang Chen

		 		 	Name:	 	Wang Chen
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
 INVESTOR: 

 

									
		 		 	SCOTTISH MORTGAGE INVESTMENT TRUST PLC.	 	
					
		 		 	By:	 	 /s/ Graham Laybourn
	 	
		 		 	Name:	 	Graham Laybourn	 	
		 		 	Title:	 	Partner of Baillie Gifford & Co, as agent for and on behalf of Scottish Mortgage Investment Trust plc	 	
				
		 		 	PACIFIC HORIZON INVESTMENT TRUST PLC.	 	
					
		 		 	By:	 	 /s/ Graham Laybourn
	 	
		 		 	Name:	 	Graham Laybourn	 	
		 		 	Title:	 	Partner of Baillie Gifford & Co, as agent for and on behalf of Pacific Horizon Investment Trust plc	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	MARIAD OPPORTUNITIES MASTER FUND LIMITED
					
		 		 	By:	 	 /s/ Scott A. Gaynor
	 	
		 		 	Name:	 	Scott A. Gaynor	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	LONE CYPRESS LTD.
					
		 		 	By:	 	 /s/ Kerry A. Tyler
	 	
		 		 	Name:	 	Kerry A. Tyler	 	
		 		 	Title:	 	Authorized Signatory	 	
			
		 		 	LONE SPRUCE L.P.
					
		 		 	By:	 	 /s/ Kerry A. Tyler
	 	
		 		 	Name:	 	Kerry A. Tyler	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	ULTRA RESULT HOLDINGS LIMITED
					
		 		 	By:	 	 

  
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	AL NAHDHA INVESTMENT LLC
					
		 		 	By:	 	 /s/ H.E. Saeed Eid Al Ghafli
	 	
		 		 	Name:	 	H.E. Saeed Eid Al Ghafli	 	
		 		 	Title:	 	Authorized Signatory	 	
				
		 		 	AL BEED GROUP	 	
					
		 		 	By:	 	 /s/ H.E. Saeed Eid Al Ghafli
	 	
		 		 	Name:	 	H.E. Saeed Eid Al Ghafli	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	OLDBRIDGE INVEST LLC
					
		 		 	By:	 	 /s/ Galal Kulaib
	 	
		 		 	Name:	 	Galal Kulaib	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	AC LIMITED
					
		 		 	By:	 	 /s/ Ossama Khoreibi
	 	
		 		 	Name:	 	Ossama Khoreibi	 	
		 		 	Title:	 	Director	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	BEST CASTLE LIMITED
					
		 		 	By:	 	 

  
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	HUBEI SCIENCE & TECHNOLOGY INVESTMENT GROUP (HONG KONG) COMPANY LIMITED	 	
					
		 		 	By:	 	 

  
	 	
		 		 	Name:	 	

	 	
		 		 	Title:	 	Director of Company	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	WP NIO INVESTMENT PARTNERSHIP L.P.	 	
					
		 		 	By:	 	 /s/ Steven Glenn
	 	
		 		 	Name:	 	Steven Glenn	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	  LEZMENIA ASSETS LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

					
		
		 	  LAPATHIA HOLDINGS LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	SILVER RIDGE FUND I LIMITED PARTNERSHIP
			
		 		 	For and on behalf of
		 		 	Silver Ridge Ventures Limited
			
		 	By:	 	 

 Authorized Signature(s)
  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	THE MABEL CHAN 2012 FAMILY TRUST
			
		 	By:	 	 /s/ Ed Yiu-Cheong Chan

		 	Name:	 	Ed Yiu-Cheong Chan
		 	Title:	 	Trustee

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	    MAGIC STONE SPECIAL OPPORTUNITY FUND IV, L.P.

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	MEGA TREASURE INVESTMENT LIMITED
			
		 	By:	 	 /s/ Wong Kok Wai         06 NOV 2017 

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	JOY NEXT INVESTMENT MANAGEMENT LIMITED
			
		 	By:	 	 /s/ LIU ERHAI

		 	Name:	 	LIU ERHAI
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 DIAMOND DIVISION LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	HH DYU HOLDINGS LIMITED
			
		 	By:	  	 /s/ Meng Shan

		 	Name:	  	Meng Shan
		 	Title:	  	Director

  

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 SCHEDULE 1 

LIST OF INVESTORS1 
 Part
A1 
  

	1.	ORIGINALWISH LIMITED, a business company with limited liability duly incorporated and validly existing under the Laws of the British Virgin Islands (“Originalwish”); 

 

	2.	MOBIKE GLOBAL LTD., a business company with limited liability duly incorporated and validly existing under the Laws of the British Virgin Islands (“mobike Global”); and 

 

	3.	ENERGY LEE LIMITED, a business company with limited liability duly incorporated and validly existing under the Laws of the British Virgin Islands (“Energy”). 

Part A2 
  

	4.	HILLHOUSE NEV HOLDINGS LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	5.	SHUNWEI TMT II LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Shunwei TMT”), and SHUNWEI GROWTH II LIMITED, an
exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Shunwei Growth”, together with Shunwei TMT, “Shunwei”); 

 

	6.	SMART GROUP GLOBAL LIMITED, a business company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Smart Group”); and 

 

	7.	MOUNT PUTUO INVESTMENT LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Mount Putuo”). 

Part A3 
  

	8.	SEQUOIA CAPITAL CHINA GF HOLDCO III-A, LTD., an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands
(“Sequoia”); 

  

	9.	JOY CAPITAL I, L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands (“Joy Capital”); and 

 

	10.	PADMASREE WARRIOR, a U.S. citizen whose passport number is 488781280 (“Padmasree”). 

 

	1	NTD: Pending company confirmation. 

  
 - 41 - 

 Part B 
  

	11.	ANDERSON INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore (“Temasek”); 

 

	12.	TPG GROWTH III SF PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore (“TPG”); 

 

	13.	BLUESTONE COMPANY LIMITED, a company limited by shares duly incorporated and validly existing under the Laws of the Cayman Islands (“Bluestone”); 

 

	14.	MAGIC STONE ALTERNATIVE PRIVATE EQUITY FUND, L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands(“Magic Stone”);

  

	15.	ORIENT HONTAI LIMITED, a business company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Orient Hontai”); 

 

	16.	GOLDEN BRICK CAPITAL PRIVATE EQUITY FUND II L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands (“Golden Brick”);

  

	17.	ULTIMATE LENOVO LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Lenovo”); 

 

	18.	HILLHOUSE NEV HOLDINGS LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	19.	HH RSV-X HOLDINGS LIMITED, an exempted company with limited liability duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	20.	SHUNWEI TMT II LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands, and SHUNWEI GROWTH II LIMITED, an exempted company duly
incorporated and validly existing under the Laws of the British Virgin Islands; 

  

	21.	MOUNT PUTUO INVESTMENT LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	22.	SCC GROWTH IV HOLDCO A, LTD., an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands (“SCC”); 

 

	23.	JOY CAPITAL I, L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands; 

 

	24.	PALACE INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore (“Palace”); 

  
 - 42 - 

	25.	GRANDFIELD INVESTMENT LTD., an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands (“Grandfield”); 

 

	26.	IDG CHINA VENTURE CAPITAL FUND IV L.P. and IDG CHINA IV INVESTORS L.P., each an exempted limited partnership registered and validly existing under the Laws of the Cayman Islands; 

 

	27.	BRIGHT SKY II, L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands (“Bright Sky”); and 

 

	28.	LONG WINNER INVESTMENT LIMITED (遠宏投資有限公司 ), a limited company duly incorporated and validly existing under the Laws of
Hong Kong. 

 Part C 
  

	29.	BAIDU CAPITAL L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands (“Baidu Capital”); 

 

	30.	WEST CITY ASIA LIMITED, a company limited by shares duly incorporated and validly existing under the Laws of the British Virgin Islands (“West City”); 

 

	31.	TANZANITE GEM HOLDINGS LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands (“WP”); 

 

	32.	HAIXIA NEV INTERNATIONAL LIMITED PARTNERSHIP (formerly known as HAIXIA NIO INTERNATIONAL LIMITED PARTNERSHIP), a limited partnership company duly incorporated and validly existing under the Laws of
the Cayman Islands (“Haixia”); 

  

	33.	HAITONG INTERNATIONAL INVESTMENT HOLDINGS LIMITED (formerly known as HAITONG INTERNATIONAL ALTERNATIVE INVESTMENT LIMITED), a limited liability company duly incorporated and validly existing under
the Laws of the British Virgin Islands (“Haitong”); 

  

	34.	NEW MARGIN CAPITAL HONG KONG CO., LIMITED (聯創資本(香港)有限公司),
a limited liability company duly incorporated and validly existing under the Laws of Hong Kong (“New Margin Capital”); 

  

	35.	IMAGE FRAME INVESTMENT (HK) LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Hong Kong (“Image Frame”, with Mount Putuo, individually or
collectively “Tencent”); 

  

	36.	ZHIDE EV INVESTMENT LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the Cayman Islands (“Zhide”); 

 

	37.	CHINAEQUITY SMART TRAVEL CO., LTD., a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands (“ChinaEquity”); 

  
 - 43 - 

	38.	PALACE INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore; 

 

	39.	TOTAL PRESTIGE INVESTMENT LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the Cayman Islands (“Total Prestige”); 

 

	40.	BRIGHT SKY II, L.P., an exempted limited partnership duly registered and validly existing under the Laws of the Cayman Islands; 

 

	41.	TPG GROWTH III SF PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore; 

 

	42.	BLUESTONE COMPANY LIMITED, a company limited by shares duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	43.	IDG CHINA VENTURE CAPITAL FUND IV L.P. and IDG CHINA IV INVESTORS L.P., each an exempted limited partnership registered and validly existing under the Laws of the Cayman Islands, and CYBER TYCOON
LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands (“IDG”); 

  

	44.	HONOR BEST INTERNATIONAL LIMITED, a company with limited liability duly incorporated and validly existing under the Laws of the British Virgin Islands (“Honor Best”); 

 

	45.	ANDERSON INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore; 

 

	46.	ULTIMATE LENOVO LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	47.	CHAMPION ELITE GLOBAL LIMITED (冠傑環球有限公司 ), a business company duly registered and validly existing under the Laws of the
British Virgin Islands; 

  

	48.	CHINA INDUSTRIAL INTERNATIONAL TRUST ASSET MANAGEMENT COMPANY LIMITED (formerly known as CHINA INVESTMENT ASSET MANAGEMENT LIMITED
(兴业国信资产管理有限公司)) , a limited liability company duly registered and validly existing under the Laws of the PRC;

  

	49.	HF HOLDINGS LIMITED, a limited liability company under the laws of the British Virgin Islands; 

  

	50.	TEA LEAF LIMITED, an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands; 

  
 - 44 - 

	51.	BLISSFUL DAYS HOLDINGS LIMITED (福日控股有限公司 ), a business company duly incorporated and validly existing under the Laws of
the British Virgin Islands; 

  

	52.	GUANGFA XINDE CAPITAL MANAGEMENT LIMITED (广发信德资本管理有限公司), a
corporation duly incorporated under and validly existing under the Laws of the British Virgin Islands; 

  

	53.	BLUEFUTURE FUND L.P., an exempted limited partnership duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	54.	UBS AG, LONDON BRANCH, a company duly incorporated and validly existing under the Laws of the Switzerland and registered as a branch in England and Wales Branch No. BR004507 at 5 Broadgate, London EC2M 2QS;

  

	55.	KEEN EAGLE CAPITAL INVESTMENT LIMITED (銳鷹創富有限公司), a limited liability company duly incorporated and validly existing
under the Laws of Hong Kong; 

  

	56.	CHINA OCEANWIDE INTERNATIONAL ASSET MANAGEMENT LIMITED (中泛國際資產管理有限公司 ), a BVI business
company duly incorporated and validly existing under the Laws of the British Virgin Islands; and 

  

	57.	CHINA MERCHANTS FORTUNE 100 ALTERNATIVE INVESTMENT SP, an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands. 

Part D 
  

	58.	IMAGE FRAME INVESTMENT (HK) LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Hong Kong; 

 

	59.	MORESPARK LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Hong Kong (“Morespark”); 

 

	60.	LEAP PROSPECT LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Hammer Capital”); 

 

	60.	PV VISION LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	61.	SERENITY WL HOLDINGS LTD., an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	62.	SCOTTISH MORTGAGE INVESTMENT TRUST PLC, a public limited company duly incorporated and validly existing under the Laws of the United Kingdom; 

 

	63.	PACIFIC HORIZON INVESTMENT TRUST PLC, a public limited company duly incorporated and validly existing under the Laws of the United Kingdom; 

  
 - 45 - 

	64.	MYRIAD OPPORTUNITIES MASTER FUND LIMITED, an exempted company duly incorporated and validly exiting under the Laws of the Cayman Islands; 

 

	65.	LONE CYPRESS, LTD., an exempted limited liability company duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	66.	LONE SPRUCE, L.P., a limited partnership duly incorporated and validly existing under the Laws of the State of Delaware, USA; 

 

	67.	ULTRA RESULT HOLDINGS LIMITED; a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	68.	AL NAHDHA INVESTMENT LLC, a limited liability company duly incorporated and validly existing under the Laws of United Arab Emirates; 

 

	69.	AL BEED GROUP, an establishment duly incorporated and validly existing under the Laws of United Arab Emirates; 

  

	70.	OLDBRIDGE INVEST L.L.C., a limited liability company duly incorporated and validly existing under the Laws of United Arab Emirates; 

 

	71.	AC LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Dubai International Financial Centre; 

 

	72.	BEST CASTLE LIMITED, an exempted Company duly incorporated and validly exiting under the Laws of the Cayman Islands; 

  

	73.	HUBEI SCIENCE & TECHNOLOGY INVESTMENT GROUP (HONG KONG) COMPANY LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Hong Kong;

  

	74.	WP NIO INVESTMENT PARTNERSHIP L.P., a limited partnership duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	75.	LEZMENIA ASSETS LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	76.	LAPATHIA HOLDINGS LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Cyprus; 

 

	77.	SILVER RIDGE FUND I LIMITED PARTNERSHIP, a limited partnership duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	78.	THE MABEL CHAN 2012 FAMILY TRUST, a trust duly governed by the laws of the State of New York, USA; 

  

	79.	MAGIC STONE SPECIAL OPPORTUNITY FUND IV L.P., an exempted limited partnership duly incorporated and validly existing under the Laws of the Cayman Islands; 

  
 - 46 - 

	80.	MEGA TREASURE INVESTMENT LIMITED, an exempted company duly incorporated and validly exiting under the Laws of the Cayman Islands; 

 

	81.	TANZANITE GEM HOLDINGS LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	82.	SCC GROWTH IV HOLDCO A, LTD., an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands (“SCC”); 

 

	83.	JOY NEXT INVESTMENT MANAGEMENT LIMITED, a limited liability company duly registered and validly existing under the Laws of Hong Kong; 

 

	84.	ANDERSON INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore; 

 

	85.	TPG GROWTH III SF PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore; 

 

	86.	BLUESTONE COMPANY LIMITED, a company limited by shares duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	87.	BRIGHT SKY II, L.P., an exempted company duly incorporated and validly exiting under the Laws of the Cayman Islands; 

  

	88.	DIAMOND DIVISION LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	89.	WEST CITY ASIA LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	90.	HAIXIA NEV INTERNATIONAL LIMITED PARTNERSHIP, a limited partnership company duly incorporated and validly existing under the Laws of the Cayman Islands; 

 

	92.	KEEN EAGLE CAPITAL INVESTMENT LIMITED, a limited liability company duly incorporated and validly existing under the Laws of Hong Kong; 

 

	93.	PALACE INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly existing under the Laws of Republic of Singapore; and 

 

	94.	HH DYU Holdings Limited, an exempted company with limited liability duly incorporated and validly existing under the Laws of the Cayman Islands (collectively with Hillhouse NEV Holdings Limited and HH RSV-X Holdings Limited, “Hillhouse”). 

  
 - 47 - 

 SCHEDULE 2 

ADDRESS FOR NOTICES 
  

			
	If to the Group Companies:
		
	Address:	  	20th Building, 56 An Tuo Road, AnTing Town, JiaDing, Shanghai, PRC
	Attn:	  	Mr. WANG Dongning (汪冬宁)
	Fax:	  	
	Email:	  	nick.wang@nio.com
	
	If to Founder Vehicles:
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Mr. LI Bin
	Fax:	  	
	Email:	  	william.li@nextev.com
		
	If to Founder:	  	
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Mr. LI Bin
	Fax:	  	
	Email:	  	william.li@nextev.com
	
	If to Prime Hubs:
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Heather DIWU (第五蕙)
	Fax:	  	
	Email:	  	heather.diwu@nio.com
		
	If to Energy:	  	
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Mr. LI Xiang
	Fax:	  	
	Email:	  	lixiang@autohome.com.cn

  
 - 48 - 

			
	If to Hillhouse:
		
	Address:	  	Floor 28, Building B, PingAn International Financial Center, 3 Xinyuannan Road, Chaoyang District, Beijing 100027, PRC
	Fax:	  	+86 (10) 5952-0882
	Attention:	  	Luke LI
	Email:	  	lli@hillhousecap.com
	
	With a copy to:
		
	Address:	  	Suite 1608, One Exchange Square, 8 Connaught Place, Central, Hong Kong
	Tel:	  	+852 2179-1927
	Fax:	  	+852 2179-1900
	Attention:	  	Mr. Adam HORNUNG
	Email:	  	legal@hillhousecap.com
		
	If to Shunwei:	  	
		
	Address:	  	P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
	Attention:	  	Mr. Tuck Lye Koh (许达来)
	Email:	  	tlkoh@shunwei.com
	
	With a copy to:
		
	Address:	  	Unit 1309A, 13/F, Cable TV Tower, No. 9 Hoi Shing Road, Tsuen Wan, N.T., Hong Kong
	Tel:	  	+852 24050088
	Fax:	  	+852 24050003
	Email:	  	tlkoh@shunwei.com
	Attention:	  	Mr. Tuck Lye Koh (许达来)
		
	If to Tencent:	  	
		
	Address:	  	Tencent Building, Keji Zhongyi Avenue, Hi-tech Park, Nanshan District Shenzhen 518057, PRC
	Attention:	  	Compliance and Transactions Department
	Email:	  	legalnotice@tencent.com
	with a copy to:	  	
	Address:	  	Tencent Building, Keji Zhongyi Avenue, Hi-tech Park, Nanshan District, Shenzhen 518057, PRC
	Attention:	  	Mergers and Acquisitions Department
	Email:	  	PD_Support@tencent.com
	
	If to Smart Group:
		
	Address:	  	Building 18, Kechuang No.11 Street, Yizhuang Economic Development Zone, Daxing District, Beijing, PRC
	Tel:	  	(86 10) 58955998
	Fax:	  	
	Attention:	  	Nancy
	Email:	  	nancy@jd.com

  
 - 49 - 

			
	with a copy to:	  	
		
	Attention:	  	Xiaohong Miao
	Email:	  	mxh@jd.com
	Tel:	  	(86 10) 58955998
	
	If to Sequoia or SCC:
		
	Address:	  	Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands, c/o Suite 3613, 36/F, Two Pacific Place, 88 Queensway, Hong Kong
	Tel:	  	+852 2501 8989
	Fax:	  	+852 2501 5249
	Attention:	  	Ip Siu Wai Eva / Ian Qian
	Email:	  	eip@sequoiacap.com, iqian@sequoiacap.com
	
	If to Joy Capital:
		
	Address:	  	1501 Tower B, Greenland Center, No.4 Wangjing Dongyuan, Chaoyang District, Beijing
	Tel:	  	(86 10) 52388085
	Fax:	  	(86 10) 52388090
	Attention:	  	Angela Lin
	Email:	  	linlin@joycapital.com.cn
	
	If to Padmasree Warrior:
		
	Address:	  	2950 Alexis Drive Palo Alto, CA 94304
	Tel:	  	+1(408) 386 7960 (Cell)
		  	+1(650) 209 5705 (Home)
	Email:	  	padmasree.warrior@gmail.com
	
	If to Temasek:
		
	Address:	  	60B Orchard Road, #06-18 Tower 2, The Atrium@Orchard, Singapore 238891
	Tel:	  	
	Fax:	  	
	Attention:	  	Wu Hai
	Email:	  	wuhai@temasek
		
	If to TPG:	  	
		
	Address:	  	TPG Growth III SF Pte. Ltd., 80 Raffles Place, #15-01 UOB Plaza 1, Singapore 048624
	Tel:	  	+65 6390 5000
	Fax:	  	+65 6390 5001
	Attention:	  	Hua Fung Teh
	Email:	  	HTeh@tpg.com

  
 - 50 - 

			
	With a copy to:
	
	TPG Global, LLC
	Address:	  	301 Commerce Street, Suite 3300 Fort Worth, TX 76102, U.S.A.
	Tel:	  	+1 415 743 1532
	Fax:	  	+1 415 438 1349
	Attention:	  	Legal Department
	Email:	  	tpglegaldepartment@tpg.com
	
	If to Bluestone:
		
	Address:	  	Suites 203-205, Winland International Finance Center, No. 7 Financial Street, Beijing, China
	Tel:	  	
	Fax:	  	
	Attention:	  	Yi CHEN
	Email:	  	simon.chen@hopucap.com
	
	If to Magic Stone:
		
	Address:	  	D36, King’s Garden, No.18 Xiaoyun Road, Chaoyang District, Beijing, P.R. China
	Tel:	  	
	Fax:	  	+86 (10) 85187755
	Attention:	  	Zeng Yu
	Email:	  	jennyzeng@msainvest.com
	
	If to Orient Hontai:
		
	Address:	  	701, 7/F, North Block C, Raycom Infotech Park, No. 2 Science Institution South Road, Haidian District, Beijing, China
	Tel:	  	+86 150 1138 5037
	Fax:	  	+86 (10) 8286 2988-927
	Attention:	  	Eric Zhao/Han Zhang
	Email:	  	eric.zhao@hontaicapital.com/Han.zhang@hontaicapital.com
	
	If to Golden Brick:
		
	Address:	  	c/o Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands
	Tel:	  	
	Fax:	  	(86 10) 5735 1999
	Attention:	  	Malcolm Ko
	Email:	  	malcolmko@ceeholdings.com

  
 - 51 - 

			
	If to Lenovo:	  	
		
	Address:	  	6th Floor, Tower A, #6, Shangdi Road West, Haidian District, Beijing Tel:
	Fax:	  	
	Attention:	  	Ricky Chen
	Email:	  	chenbo10@lenovo.com
		
	If to Palace:	  	
		
	Address:	  	60B Orchard Road, #06-18 Tower 2, The Atrium@Orchard, Singapore 238891
	Tel:	  	
	Fax:	  	
	Attention:	  	Song Junhe, Pavcap Ops, Pavcap Legal
	Email:	  	junhe@pavcap.com.sg, ops@pavcap.com.sg, legal@pavcap.com.sg
	
	If to Grandfield or Bright Sky or Total Prestige:
		
	Address:	  	190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands
	Tel:	  	
	Fax:	  	
	Attention:	  	
	
	With a copy to:
	
	Redview Advisors (HK) Limited
	Address:	  	Suite 1702-03, One Exchange Square, 8 Connaught Place, Central, Hong Kong
	Tel:	  	+852 2801 6988
	Fax:	  	+852 28014882
	Attention:	  	Director
		
	If to IDG:	  	
		
	Address:	  	c/o IDG Capital Management (HK) Ltd., Unit 5505, 55/F., The Center 99 Queen’s Road, Central, Hong Kong
	Tel:	  	
	Fax:	  	+852 2529 1619
	Attention:	  	Chi Sing HO
	Email:	  	
	
	With a copy to:
		
	Address:	  	Floor 6, Tower A, COFCO Plaza, 8 Jianguomennei Dajie, Beijing, 100005, P.R. China
	Fax:	  	+86 (10) 8512 0225
	Attention:	  	Mr. Rui Guo
	
	If to Long Winner:
		
	Address:	  	2508, Hongkou SOHO, 575 Wusong Road, Hongkou Area, Shanghai, China, 200080 / 上海市虹口区吴淞路 575
号虹口 SOHO 2508,邮编 200080
	Fax:	  	+86 (21) 6127 9989
	Attention:	  	John Y Hsin
	Email:	  	jhsin@huaxing.com

  
 - 52 - 

			
	If to Baidu Capital:
		
	Address:	  	上海市黄浦区马当路 388 号 SOHO 复兴广场 A 栋 2705 室 
	Tel:	  	
	Fax:	  	
	Attention:	  	Jenny Wenjie WU
	Email:	  	jennywu@baidu-cap.com
	
	If to West City:
		
	Address:	  	Unit 908. Level 9, Cyberport 2, 100 Cyberport Road, Hong Kong (香港数码 港道 100
号数码港 2 座 9 楼 908 室)
	Tel:	  	+852 2866 3088
	Fax:	  	+852 2866 2966
	Attention:	  	Xin Xu / Rong Zhu
	Email:	  	kathyxu@capitaltoday.com / jasonzhu@capitaltoday.com
		
	If to WP:	  	
		
	Address:	  	c/o Warburg Pincus LLC, 450 Lexington Avenue, New York, NY 10017, USA
	Tel:	  	
	Fax:	  	
	Attention:	  	Steven G. Glenn/David J. Sreter/Tara E. O’Neill
	Email:	  	
	
	With a copy to:
	
	Warburg Pincus Asia LLC
	Address:	  	Suite 6703, Two International Finance Centre, 8 Finance Street, Hong Kong
	Tel:	  	
	Fax:	  	+852 2521 3869
	Attention:	  	Julian Cheng and Andrew Chan
	Email:	  	julian.cheng@warburgpincus.com/andrew.chan@warburgpincus.com
		
	If to Haixia:	  	
		
	Address:	  	Floor 22, East Wing, D Building, Qinghuatongfang Technology Plaza,No.1 Wangzhuang Road, Haidian District, Beijing
(北京市海淀区王庄路一号,清 华同方科技广场 D 座东楼 22 层)
	Tel:	  	+86 (10) 82366710
	Fax:	  	+86 (10) 62366718
	Attention:	  	张明义 
	Email:	  	zhangmingyi@haixiaasset.com

  
 - 53 - 

			
	If to Haitong:	  	
		
	Address:	  	18/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong
	Tel:	  	+852 2801 2687
	Fax:	  	+852 3926 8907
	Attention:	  	Luxi Wei
	Email:	  	l.wei@htisec.com
	
	If to New Margin Capital:
		
	Address:	  	北京市朝阳区望京东 园 4 区绿地中心 D 座绿地中国锦大厦 16 层 1601(Unit 1601-1, Greenland China Jin Building, Hongtai East Street,
Wangjing East Garden 4th District, Chaoyang District, Beijing 100102)
	Tel:	  	
	Fax:	  	+86 (10) 65280062
	Attention:	  	Mr. Tian
	Email:	  	zhangyu@newmargin.cn, richardtian@newmargin.cn
		
	If to Zhide:	  	
		
	Address:	  	32nd Floor, Azia Center,1233 Lujiazui Ring Road, Shanghai, P.R. China
	Tel:	  	
	Fax:	  	+86 (21) 5888 0598
	Attention:	  	Yuan Shitao
	Email:	  	Shitao.yuan@cicc.com.cn
	
	If to ChinaEquity:
		
	Address:	  	3rd Floor, Tower C, Shoukai Xingfu Square, Xindong Road, Chaoyang District, Beijing 100027, China
	Tel:	  	+86 (10) 8555 0508
	Fax:	  	+86 (10) 8555 0509
	Attention:	  	 John Liu ( 刘 朝
文)

	Email:	  	johnliu@chinaequity.net
	
	If to Honor Best:
		
	Address:	  	Room 904, Tower E1, Oriental Plaza, No.1 East Chang’an Avenue, Dongcheng District, Beijing, PRC
	Tel:	  	
	Fax:	  	+86 10 85188718
	Attention:	  	CHAI Hua
	Email:	  	hua.chai@everbright-idg.com
	
	If to Champion Elite:
		
	Address:	  	Room 2705, 17F, 388 Madang Rd, Shanghai
	Tel:	  	+86 21 8036 1199
	Fax:	  	+86 21 8036 1199
	Attention:	  	Jenny Wenjie Wu
	Email:	  	jennywu@baiducapital.com

  
 - 54 - 

			
	If to China Industrial International Trust Asset Management (China Investment Asset Management):
		
	Address:	  	35/F, One Business Center, 68 Yin Cheng Zhong Road, Pudong District, Shanghai
	Tel:	  	+86 (021) 3829 6250
	Fax:	  	+86 (021) 3860 1997
	Attention:	  	Zou Likun
	Email:	  	zoulk@ciit.com.cn
		
	If to HF:	  	
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Xia Wang/Pu Wang
	Email:	  	wangxia@hanfor.cn/wangpu@hanfor.cn
	
	If to Tea Leaf:
		
	Address:	  	c/o Walkers Fiduciary Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands
	Tel:	  	+1 345 814 7600
	Fax:	  	
	Attention:	  	Directors
	Email:	  	fiduciary@walkersglobal.com
	
	If to Blissful Days:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Mr. Zhao
	Email:	  	366128798@qq.com
	
	If to Guangfa Xinde:
		
	Address:	  	16/F Metro Plaza.183 North Tianhe Rd, Guangzhou, P.R. China
	Tel:	  	+86 20 8755 5888-6362
	Fax:	  	+86 20 8755 3363-6362
	Attention:	  	Liang Chen
	Email:	  	xdchenl@gf.com.cn
	
	If to Bluefuture:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Rong Xiao
	Email:	  	xiaor@bothwealth.com

  
 - 55 - 

			
	If to UBS:	  	
		
	Address:	  	UBS AG, 5 Broadgate, London EC2M 2QS
	Tel:	  	+852 2971 8888
	Fax:	  	+852 2868 1510
	Attention:	  	Adrian Ding/John Zhai/Simon Lam
	Email:	  	ol-ccs+-project-newton@ubs.com
	
	If to Keen Eagle:
		
	Address:	  	
	Tel:	  	
	Fax:	  	+86 (021) 6226 2075
	Attention:	  	Yuan Yao
	Email:	  	yaoyuan@cdb-pe.cn
	
	If to China Oceanwide:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Yue Yuanyuan
	Email:	  	yueyuanyuan@fhkg.com
	
	If to China Merchants:
		
	Address:	  	Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands
	Tel:	  	+852 3628 2302
	Fax:	  	+852 3582 3371
	Attention:	  	Gao Ting
	Email:	  	gaot@cmfchina.com
	
	If to Hammer Capital:
		
	Address:	  	Room 1803, Zhongshen International Building, Songyuan Road, Luohu District, Shenzhen 518001
	Tel:	  	+86 158 1870 6677
	Fax:	  	
	Attention:	  	Yu Bai/Amanda Chau
	Email: Amanda.chau@hammercaptial.co
	
	If to PV Vision Limited:
		
	Address:	  	48/F, China World Tower 3, No. 1 Jian Guo Men Wai Avenue, Beijing, China
	Tel:	  	+86 (10) 8559 8918
	Fax:	  	
	Attention:	  	Michael Wang
	Email:	  	Michael.Wang@primavera-capital.com

  
 - 56 - 

			
	With a copy to:
		
	Attention:	  	Jimmy Guo/Edward Han
	Email:	  	Jimmy.Guo@primavera-capital.com/Edward.Han@primavera-capital.com
	
	If to Serenity WL Holdings Ltd.:
		
	Address:	  	c/o Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, Cayman Islands, KY1-1104
	Tel:	  	+86-21-6288-1001
	Fax:	  	
	Attention:	  	Wang Chen
	Email:	  	wchen@serenitycap.com
	
	If to Scottish Mortgage Investment Trust PLC:
		
	Address:	  	Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN
	Tel:	  	
	Fax:	  	
	Attention:	  	Peter Singlehurst, Linda Lin, Ewan Markson-Brown, Keith Borrows and Christopher Smith
	Email:	  	peter.singlehurst@bailliegifford.com, linda.lin@bailliegifford.com, ewan.markson-brown@bailliegifford.com, keith.borrows@bailliegifford.com, christopher.smith@bailliegifford.com
	
	If to Pacific Horizon Investment Trust PLC:
		
	Address:	  	Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN
	Tel:	  	
	Fax:	  	
	Attention:	  	Peter Singlehurst, Linda Lin, Ewan Markson-Brown, Keith Borrows and Christopher Smith
	Email:	  	peter.singlehurst@bailliegifford.com, linda.lin@bailliegifford.com, ewan.markson-brown@bailliegifford.com, keith.borrows@bailliegifford.com, christopher.smith@bailliegifford.com
	
	If to Myriad Opportunities Master Fund Limited:
		
	Address:	  	15/F, Agricultural Bank of China Tower, 50 Connaught Road Central, Central, Hong Kong
	Tel:	  	+852 3664 7889
	Fax:	  	+852 9387 5420
	Attention:	  	Scott Gaynor
	Email:	  	Scott@myriadasset.com
	
	If to Lone Cypress, Ltd./Lone Spruce, L.P.:
		
	Address:	  	Two Greenwich Plaza, Greenwich, CT 06830
	Tel:	  	
	Fax:	  	
	Attention:	  	COO/CFO
	Email:	  	kt@lpcap.com/mm@lpcap.com

  
 - 57 - 

			
	If to Ultra Result Holdings Limited:
		
	Address:	  	37/F, Bank of China Tower, 1 Garden Road, Hong Kong
	Tel:	  	+852 3406 8682
	Fax:	  	
	Attention:	  	Eric Dong
	Email:	  	eric.dong@chinaamc.com
	
	If to Al Nahdha Invetment LLC:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Amer Khan/Junaid Sukhera
	Email:	  	amer@alnahdhainv.ae/junaid@alnahdhainv.ae
	
	If to Al Beed Group:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Amer Khan/Al Hadi
	Email:	  	amer@alnahdhainv.ae/junaid@alnahdhainv.ae
	
	If to Oldbridge Invest LLC
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Galal Kulaib
	Email:	  	galal@oldbridge.ae
	
	If to AC Limited:
		
	Address:	  	Gate Precinct Building 5, Level 6, Suite 607B, DIFC, P.O. Box 116020, Dubai, U.A.E.
	Tel:	  	+971 4 455 9500
	Fax:	  	+971 4 455 9501
	Attention:	  	Michael
	Email:	  	notices@aclimited.com
	
	If to Best Castle Limited:
		
	Address:	  	28/F, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong
	Tel:	  	+852 3710 6888 / +86 21 6170-5542
	Fax:	  	+852 2104 6977
	Attention:	  	Vicki Hui / Liyang Zhang / Dixon Ng
	Email:	  	vickihui@citicicapital.com/liyangzhang@citiccapital.com /dixonng@citiccapital.com

  
 - 58 - 

			
	If to Hube Science & Technology Investment Group (Hong Kong) Company Limited:
		
	Address:	  	Room 1802, Dominton Centre, 43-59 Queen’s Road East, HK
	Tel:	  	+86 (027) 8770 5403
	Fax:	  	
	Attention:	  	Qing Shao
	Email:	  	sq@whovii.com
	
	If to WP NIO Investment Partnership L.P.:
		
	Address:	  	450 Lexington Avenue, New York, NY 10017
	Tel:	  	
	Fax:	  	
	Attention:	  	Steven Glenn
	Email:	  	
	
	If to Lezmenia Assets/Lapathia Holdings:
		
	Address:	  	Russia-China Investment Fund, 819-821 Winland International Finance Center, 7 Financial St., Xicheng District, Beijing 100033, China
	Tel:	  	
	Fax:	  	+86 10 57629111
	Attention:	  	Legal Department
	Email:	  	xiaoming.lai@rcif.com, shengwei.xu@rcif.com, zhen.lin@rcif.com
		
	And	  	
		
	Address:	  	Russia-China Investment Fund Naberezhnaya Tower, Presnenskaya nab. 10, Block B, floor 6 Moscow, Russia 123317
	Tel:	  	
	Fax:	  	+7 (495) 230-05-56
	Attention:	  	Legal Department
	Email:	  	stanislav.song@rcif.com, vladislav.sidorov@rcif.com, nina.bystrova@rcif.com
	
	With a copy to:
		
	Address:	  	ThemisServ Ltd, 16, Kyriakos Matsis Avenue, Eagle House, 5thFloor, Ayioi Omoloyites, 1082 Nicosia, Cyprus
	Tel:	  	
	Fax:	  	
	Attention:	  	Despo Efstathiou, Phivos Pelides
	Email:	  	defstathiou@themisserv.com, ppelides@cypruslaw.com.cy

  
 - 59 - 

			
	If to Silver Ridge Fund I limited Partnership:
		
	Address:	  	Unit 511, Section B, Building No. 4, Software Industry Base, Nanshan District, Shenzhen, China
	Tel:	  	+86 (755) 82575570
	Fax:	  	
	Attention:	  	Tingting Xiong
	Email:	  	Xiongtingting@silver-ridgecapital.com
	
	If to the Mabel Chan 2012 Family Trust:
		
	Address:	  	4/F, Catalina Mansions, 98 MacDonnell Road, Mid-Levels, Hong Kong
	Tel:	  	+852 9152 8339, +852 9540 2077; +852 2849 6188
	Fax:	  	
	Attention:	  	Ed Yiu-Cheong Chan
	Email:	  	edchan2011@gmail.com, mabeled1987@gmail.com
	
	If to Magic Stone Special Opportunity Fund IV L.P.:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Ben Harburg
	Email:	  	Ben.harburg@msainvest.com
	
	If to Mega Treasure Investment Limited:
		
	Address:	  	190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands
	Tel:	  	
	Fax:	  	
	Attention:	  	Xiaohuan Liu
	Email:	  	liuxh@nhfund.com
	
	If to Joy Next Investment Management Limited:
		
	Address:	  	1501 Tower B, Greenland Center, No.4 Wangjing Dongyuan, Chaoyang District, Beijing
	Tel:	  	(86 10) 52388085
	Fax:	  	(86 10) 52388090
	Attention:	  	Angela Lin
	Email:	  	linlin@joycapital.com.cn
	
	If to Diamond Division:
		
	Address:	  	2508, Hongkou SOHO, 575 Wusong Road, Hongkou Area, Shanghai, China, 200080 / 上海市虹口区吴淞路 575
号虹口 SOHO 2508,邮编 200080
	Tel:	  	
	Fax:	  	
	Attention:	  	Lu ZHAO
	Email:	  	luzhao@huaxing.com

  
 - 60 - 

 EXHIBIT A 

FORM OF DEED OF ADHERENCE 
 This Deed of
Adherence (this “Deed”) is entered into on [•], by and between the following parties: 
  

	1.	NIO INC., an exempted company duly incorporated and validly existing under the Laws of the Cayman Islands (the “Company”); and 

 

	2.	[New Shareholder], [a [ ] company duly incorporated] / [a [ ] limited partnership duly registered] and validly existing under the Laws of [ ] / [ ] citizen whose passport number is [    ] (the
“New Shareholder”). 

 RECITALS 
  

	(A)	[On [•], the Company, certain Series [A-1/A-2/A-3/B/C/D] Investors, and certain subsidiaries
and affiliates of the Company entered into a Series [A-1/A-2/A-3/B/C/D] Preferred Share Purchase Agreement (the “Purchase
Agreement”) in connection with the issue and sales of the Series [A-1/A-2/A-3/B/C/D] Preferred Shares of the Company.]
On [•], 2017, the Company, the shareholders of the Company and certain subsidiaries and affiliates of the Company entered into the Fifth Amended and Restated Shareholders Agreement and the Fifth Amended and Restated Right of First
Refusal & Co-Sale Agreement (collectively, and together with any amendments and supplements thereto from time to time, the “Shareholder Documents”), which set forth the rights and
obligations regarding the corporate governance of the Company, the transfer of the shares of the Company and certain other rights and obligations of the parties as set forth herein. On [•], the Company adopted the Tenth Amended and Restated
Memorandum of Association and the Ninth Amended and Restated Articles of Association (together with any amendments and supplements thereto from time to time, the “M&A”); 

 

	(B)	[The New Shareholder agrees to participate in the Additional Closing permitted under [Section 2.4(ii)] of the Purchase Agreement.] [Subject to the terms and conditions of the Purchase Agreement,] The New Shareholder
agrees to [subscribe for / be allotted / have transferred to him/her/it] a total of [ ] [Series A-1/Series A-2/Series A-3
Preferred Shares / Series B Preferred Shares / Series C Preferred Shares / Series D Preferred Shares Ordinary Shares] (the “Shares”) of the Company for an aggregate Series A/B/C/D Investment Amount of US$[ ] [at the Additional
Closing] / on [•]; 

  

	(C)	[Pursuant to [Section 2.4(ii)] of the Purchase Agreement,] The New Shareholder agrees to become a party to and be bound by the terms of [the Purchase Agreement,] the Shareholder Documents (as a party thereto) and the
M&A by executing and delivering this Deed; and 

  

	(D)	The Company enters into this Deed on behalf of itself and as agent for all other persons who are at present or who may hereafter become bound by [the Purchase Agreement,] the Shareholder Documents and the M&A
(including the existing Shareholders). 

  
 - 61 - 

 THIS DEED WITNESSES as follows: 
  

	1.	DEFINED TERMS AND CONSTRUCTION 

  

	1.1	In this Deed, except as the context may otherwise require, all words and expressions defined in [the Purchase Agreement,] the Shareholder Documents and the M&A shall have the same meanings when used herein.

  

	1.2	The rules of construction of [the Purchase Agreement,] the Shareholder Documents and the M&A will apply as if incorporated in this Deed. 

 

	1.3	This Deed shall be incorporated into [the Purchase Agreement and] the Shareholder Documents as if expressly incorporated into [the Purchase Agreement and] the Shareholder Documents. 

 

	1.4	[Immediately after the Additional Closing and subject to the terms and conditions of the Purchase Agreement, (1) Schedule I to the Purchase Agreement will be amended to list the New Shareholder, (2) the
capitalization table listed in Schedule III to the Purchase Agreement shall be amended to reflect the change of shareholding structure of the Company upon the Additional Closing, and (3) the Company shall update its register of members to
reflect the issuance of the Shares to the New Shareholders.] 

  

	2.	UNDERTAKINGS 

 The New Shareholder confirms that [he/she/it] has received copies of [the
Purchase Agreement,] the Shareholder Documents and the M&A, and fully understands and accepts the terms thereof. The New Shareholder hereby covenants and undertakes to the Company who is as trustee for all other persons who are at present or who
may hereafter become bound by [the Purchase Agreement,] the Shareholder Documents and the M&A, and to the Company itself, that, upon completion of the [allotment/transfer] of the Shares and subject to [the Purchase Agreement and] the Shareholder
Documents, the New Shareholder shall adhere to, observe, perform and be bound by all the duties, burdens and obligations, as provided under [the Purchase Agreement and] the Shareholder Documents to which [he/she/it] shall be a party and all
documents expressed in writing to be supplemental or ancillary thereto, in relation to the Shares, and shall be deemed as a “Shareholder”, a “Party”, [an “Investor”], [a “Holder”], [a “Preferred
Holder”], [a “Series A/Series B/Series C/Series D Holder”], and [a “Series A-1/Series A-2/Series A-3/Series
B/Series C/Series D Investor]”, each as defined thereunder, in relation to the Shares, as if [he/she/it] had been an original party to [the Purchase Agreement and] the Shareholder Documents since the date thereof, and be bound by the M&A.

 [If the New Shareholder is a natural person and is married on the date of this Deed, such New Shareholder’s spouse shall,
concurrently with the execution of this Agreement by the parties hereto, execute and deliver to the Company a spousal consent in substantially the form of Annex A attached hereto (“Spousal Consent”). Notwithstanding the execution
and delivery thereof, such Spousal Consent shall not be deemed to confer or convey to such New Shareholder’s spouse any rights in such New Shareholder’s Shares or other securities of the Company to be held by the New Shareholder from time
to time that do not otherwise exist by operation of law or the agreement of the parties. If any New Shareholder marries (or remarries) after the date of this Deed, such New Shareholder shall, within 30 days thereafter, obtain his or her new
spouse’s acknowledgement of, and consent to, the existence and binding effect of all restrictions contained in this Deed, [the Purchase Agreement and] the Shareholder Documents by causing such spouse to execute and deliver a Spousal Consent.]

  
 - 62 - 

 For the purpose of the notices and communications required or permitted under [the Purchase
Agreement and] the Shareholder Documents, the address of the New Shareholder is as follows, which shall be incorporated in Schedule 2 (Address for Notices) of each of the Shareholder Documents: 

Address: 
 Tel: 

Fax: 
 Attention: 

Email: 
  

	3.	ENFORCEABILITY AND GOVERNING LAW 

 Each existing Shareholder and the Company shall be
entitled to enforce [the Purchase Agreement,] the Shareholder Documents and the M&A against the New Shareholder, and the New Shareholder shall be entitled to all rights and benefits pertaining to the Shares held by it (other than those that are non-assignable) as set forth in [the Purchase Agreement,] the Shareholder Documents and the M&A, in each case as if the New Shareholder had been an original party to [the Purchase Agreement and] the Shareholder
Documents since the date thereof. 
 This Deed shall be governed by and construed in accordance with the laws of Hong Kong, except to the
extent that the Companies Law of the Cayman Islands by its terms is applicable. 
 [Signature page follows] 

  
 - 63 - 

 IN WITNESS WHEREOF, this Deed of Adherence has been executed as a deed on the date first above
written. 
  

			
	NIO INC.
		
	By:	 	
                 

	
	Name:
		
	Title:	 	
	
	Director
	
	[NAME OF NEW SHAREHOLDER]
		
	By:	 	  

	
	Name:
	
	Title:

  
 - 64 - 

 ANNEX A 

FORM OF SPOUSAL CONSENT 
 I, [•], spouse of [•],
have read and approve of [the Purchase Agreement] and the Shareholder Documents by and among the Company and the parties, including my spouse, listed therein. Capitalized terms used herein without definition shall have the meanings set forth in [the
Purchase Agreement] and the Shareholder Documents. 
 I am aware that [the Purchase Agreement] and the Shareholder Documents contain provisions regarding
(i) voting and transfer of shares, and (ii) certain rights of certain other holders of capital stock of the Company upon a sale, transfer, assignment, pledge, encumbrance or other disposition of capital stock which my spouse may own,
including any interest I might have therein. 
 I hereby agree that my interest, if any, in any Shares, securities or other property subject to [the
Purchase Agreement] and the Shareholder Documents shall be irrevocably bound by [the Purchase Agreement] and the Shareholder Documents. I further understand and agree that any community property interest I may have in such Shares, securities or
other property shall be similarly bound by [the Purchase Agreement] and the Shareholder Documents. 
 I am aware that the legal, financial and related
matters contained in [the Purchase Agreement] and the Shareholder Documents are complex and that I am free to seek independent professional guidance or counsel with respect to this Spousal Consent. I have either sought such guidance or counsel or
determined, after reviewing [the Purchase Agreement] and the Shareholder Documents carefully, that I will waive such right. 
 Dated:
[            ] 
  

			
	[Name of Spouse]
		
	By:	 	
                     

  
 - 1 -

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