Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

QUOTIENT LIMITED, 
 as Issuer,

 the Guarantors party hereto as of the date hereof 

and any Guarantor that becomes party hereto pursuant to Section 4.10 hereof 

12% Senior Secured Notes due 2023 
  

 
 INDENTURE 

Dated as of October 14, 2016 
  

 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Trustee and as Collateral Agent 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
	 SECTION 1.01.
	    	Definitions	  	 	1	  
	 SECTION 1.02.
	    	Other Definitions	  	 	38	  
	 SECTION 1.03.
	    	Rules of Construction	  	 	40	  
	 ARTICLE 2 THE SECURITIES
	  	 	41	  
	 SECTION 2.01.
	    	Amount of Securities	  	 	41	  
	 SECTION 2.02.
	    	Form and Dating	  	 	41	  
	 SECTION 2.03.
	    	Execution and Authentication	  	 	42	  
	 SECTION 2.04.
	    	Registrar and Paying Agent	  	 	42	  
	 SECTION 2.05.
	    	Paying Agent to Hold Money in Trust	  	 	43	  
	 SECTION 2.06.
	    	Holder Lists	  	 	43	  
	 SECTION 2.07.
	    	Transfer and Exchange	  	 	44	  
	 SECTION 2.08.
	    	Replacement Securities	  	 	44	  
	 SECTION 2.09.
	    	Outstanding Securities	  	 	45	  
	 SECTION 2.10.
	    	Temporary Securities	  	 	45	  
	 SECTION 2.11.
	    	Cancellation	  	 	46	  
	 SECTION 2.12.
	    	Defaulted Interest	  	 	46	  
	 SECTION 2.13.
	    	CUSIP Numbers, ISINs, etc.	  	 	46	  
	 SECTION 2.14.
	    	Calculation of Principal Amount of Securities	  	 	46	  
	 SECTION 2.15.
	    	Statement to Holders	  	 	46	  
	 ARTICLE 3 REDEMPTION
	  	 	47	  
	 SECTION 3.01.
	    	Redemption	  	 	47	  
	 SECTION 3.02.
	    	Applicability of Article	  	 	47	  
	 SECTION 3.03.
	    	Notices to Trustee	  	 	47	  
	 SECTION 3.04.
	    	Selection of Securities to Be Redeemed	  	 	47	  
	 SECTION 3.05.
	    	Notice of Optional Redemption	  	 	48	  
	 SECTION 3.06.
	    	Effect of Notice of Redemption	  	 	49	  
	 SECTION 3.07.
	    	Deposit of Redemption Price	  	 	49	  
	 SECTION 3.08.
	    	Securities Redeemed in Part	  	 	49	  
	 SECTION 3.09.
	    	Redemption for Changes in Withholding Taxes	  	 	50	  
	 ARTICLE 4 COVENANTS
	  	 	50	  
	 SECTION 4.01.
	    	Payment of Securities	  	 	50	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 SECTION 4.02.
	    	Reports and Other Information	  	 	55	  
	 SECTION 4.03.
	    	 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred
Stock
	  	 	57	  
	 SECTION 4.04.
	    	Limitation on Restricted Payments	  	 	63	  
	 SECTION 4.05.
	    	Dividend and Other Payment Restrictions Affecting Subsidiaries	  	 	68	  
	 SECTION 4.06.
	    	Asset Sales and MosaiQTM Excess License Proceeds	  	 	70	  
	 SECTION 4.07.
	    	Transactions with Affiliates	  	 	75	  
	 SECTION 4.08.
	    	Change of Control	  	 	77	  
	 SECTION 4.09.
	    	Further Instruments and Acts	  	 	79	  
	 SECTION 4.10.
	    	Future Guarantors	  	 	79	  
	 SECTION 4.11.
	    	Liens	  	 	79	  
	 SECTION 4.12.
	    	Maintenance of Office or Agency	  	 	80	  
	 SECTION 4.13.
	    	After-Acquired Property	  	 	81	  
	 SECTION 4.14.
	    	Intellectual Property	  	 	82	  
	 SECTION 4.15.
	    	Line of Business	  	 	82	  
	 SECTION 4.16.
	    	Use of Proceeds	  	 	82	  
	 SECTION 4.17.
	    	Existence	  	 	82	  
	 SECTION 4.18.
	    	Scotland Sale/Leaseback Transaction	  	 	83	  
	 SECTION 4.19.
	    	Cash Reserve Account	  	 	83	  
	 SECTION 4.20.
	    	Consent of IP Licensors	  	 	84	  
	 ARTICLE 5 SUCCESSOR COMPANY
	  	 	84	  
	 SECTION 5.01.
	    	When Issuer May Merge or Transfer Assets	  	 	84	  
	 SECTION 5.02.
	    	When Guarantors May Merge or Transfer Assets	  	 	85	  
	 ARTICLE 6 DEFAULTS AND REMEDIES
	  	 	86	  
	 SECTION 6.01.
	    	Events of Default	  	 	86	  
	 SECTION 6.02.
	    	Acceleration	  	 	88	  
	 SECTION 6.03.
	    	Other Remedies	  	 	89	  
	 SECTION 6.04.
	    	Waiver of Past Defaults	  	 	89	  
	 SECTION 6.05.
	    	Control by Majority	  	 	90	  
	 SECTION 6.06.
	    	Limitation on Suits	  	 	90	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 SECTION 6.07.
	    	Rights of the Holders to Receive Payment	  	 	90	  
	 SECTION 6.08.
	    	Collection Suit by Trustee	  	 	91	  
	 SECTION 6.09.
	    	Trustee May File Proofs of Claim	  	 	91	  
	 SECTION 6.10.
	    	Priorities	  	 	91	  
	 SECTION 6.11.
	    	Undertaking for Costs	  	 	91	  
	 SECTION 6.12.
	    	Waiver of Stay or Extension Laws	  	 	92	  
	 SECTION 6.13.
	    	Holder Request	  	 	92	  
	 ARTICLE 7 TRUSTEE
	  	 	92	  
	 SECTION 7.01.
	    	Duties of Trustee	  	 	92	  
	 SECTION 7.02.
	    	Rights of Trustee	  	 	94	  
	 SECTION 7.03.
	    	Individual Rights of Trustee	  	 	95	  
	 SECTION 7.04.
	    	Trustee’s Disclaimer	  	 	95	  
	 SECTION 7.05.
	    	Notice of Defaults	  	 	95	  
	 SECTION 7.06.
	    	Compensation and Indemnity	  	 	96	  
	 SECTION 7.07.
	    	Replacement of Trustee	  	 	97	  
	 SECTION 7.08.
	    	Successor Trustee by Merger	  	 	98	  
	 SECTION 7.09.
	    	Eligibility; Disqualification	  	 	98	  
	 SECTION 7.10.
	    	Preferential Collection of Claims Against the Issuer	  	 	98	  
	 SECTION 7.11.
	    	Confidential Information	  	 	98	  
	 ARTICLE 8 DISCHARGE OF INDENTURE; DEFEASANCE
	  	 	100	  
	 SECTION 8.01.
	    	Discharge of Liability on Securities; Defeasance	  	 	100	  
	 SECTION 8.02.
	    	Conditions to Defeasance	  	 	101	  
	 SECTION 8.03.
	    	Application of Trust Money	  	 	102	  
	 SECTION 8.04.
	    	Repayment to Issuer	  	 	102	  
	 SECTION 8.05.
	    	Indemnity for Government Obligations	  	 	102	  
	 SECTION 8.06.
	    	Reinstatement	  	 	102	  
	 ARTICLE 9 AMENDMENTS AND WAIVERS
	  	 	103	  
	 SECTION 9.01.
	    	Without Consent of the Holders	  	 	103	  
	 SECTION 9.02.
	    	With Consent of the Holders	  	 	104	  
	 SECTION 9.03.
	    	Revocation and Effect of Consents and Waivers	  	 	106	  
	 SECTION 9.04.
	    	Notation on or Exchange of Securities	  	 	106	  

  
 iii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 SECTION 9.05.
	    	Trustee to Sign Amendments	  	 	106	  
	 SECTION 9.06.
	    	Payment for Consent	  	 	107	  
	 SECTION 9.07.
	    	Additional Voting Terms; Calculation of Principal Amount	  	 	107	  
	 ARTICLE 10 GUARANTEES
	  	 	107	  
	 SECTION 10.01.
	    	Guarantees	  	 	107	  
	 SECTION 10.02.
	    	Limitation on Liability	  	 	109	  
	 SECTION 10.03.
	    	Successors and Assigns	  	 	112	  
	 SECTION 10.04.
	    	No Waiver	  	 	112	  
	 SECTION 10.05.
	    	Modification	  	 	112	  
	 SECTION 10.06.
	    	Execution of Supplemental Indenture for Future Guarantors	  	 	112	  
	 SECTION 10.07.
	    	No Impairment	  	 	113	  
	 ARTICLE 11 SECURITY DOCUMENTS
	  	 	113	  
	 SECTION 11.01.
	    	Collateral and Security Documents	  	 	113	  
	 SECTION 11.02.
	    	Release of Collateral	  	 	114	  
	 SECTION 11.03.
	    	Permitted Releases Not To Impair Lien	  	 	115	  
	 SECTION 11.04.
	    	Suits To Protect the Collateral	  	 	115	  
	 SECTION 11.05.
	    	Authorization of Receipt of Funds by the Trustee Under the Security Documents	  	 	116	  
	 SECTION 11.06.
	    	Purchaser Protected	  	 	116	  
	 SECTION 11.07.
	    	Powers Exercisable by Receiver or Trustee	  	 	116	  
	 SECTION 11.08.
	    	Release Upon Termination of the Issuer’s Obligations	  	 	116	  
	 SECTION 11.09.
	    	Collateral Agent	  	 	117	  
	 SECTION 11.10.
	    	Parallel Debt	  	 	121	  
	 ARTICLE 12 MISCELLANEOUS
	  	 	122	  
	 SECTION 12.01.
	    	Notices	  	 	122	  
	 SECTION 12.02.
	    	Certificate and Opinion as to Conditions Precedent	  	 	123	  
	 SECTION 12.03.
	    	Statements Required in Certificate or Opinion	  	 	123	  
	 SECTION 12.04.
	    	When Securities Disregarded	  	 	123	  
	 SECTION 12.05.
	    	Rules by Trustee, Paying Agent and Registrar	  	 	124	  
	 SECTION 12.06.
	    	Legal Holidays	  	 	124	  

  
 iv 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 SECTION 12.07.
	    	GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF IMMUNITY	  	 	124	  
	 SECTION 12.08.
	    	No Recourse Against Others	  	 	124	  
	 SECTION 12.09.
	    	Successors	  	 	125	  
	 SECTION 12.10.
	    	Multiple Originals	  	 	125	  
	 SECTION 12.11.
	    	Table of Contents; Headings	  	 	125	  
	 SECTION 12.12.
	    	Indenture Controls	  	 	125	  
	 SECTION 12.13.
	    	Severability	  	 	125	  
	 SECTION 12.14.
	    	Currency of Account; Conversion of Currency; Currency Exchange Restrictions	  	 	125	  
	 SECTION 12.15.
	    	Intercreditor Agreement Governs	  	 	127	  
	 SECTION 12.16.
	    	Tax Matters	  	 	128	  
	 SECTION 12.17.
	    	USA PATRIOT Act	  	 	128	  
	 SECTION 12.18.
	    	Limited Incorporation of the Trust Indenture Act	  	 	128	  
	 SECTION 12.19.
	    	WAIVER OF TRIAL BY JURY	  	 	128	  

  

							
	Appendix A	  	-	    	Provisions Relating to Securities	  	A-1
		
	EXHIBIT INDEX	  	
				
	Exhibit A	  	-	    	Form of Security and Trustee’s Certificate of Authentication	  	A-1
	Exhibit B	  	-	    	Form of Transferee Letter of Representation	  	B-1
	Exhibit C	  	-	    	Form of Supplemental Indenture	  	C-1
	Exhibit D	  	-	    	Form of Intercreditor Agreement	  	D-1
	Exhibit E	  	-	    	Form of Confidentiality Agreement	  	E-1
	Exhibit F	  	-	    	Payment Subordination Terms	  	F-1

  
 v 

 INDENTURE dated as of October 14, 2016 among Quotient Limited, a public limited liability no par
value company formed under the laws of Jersey, Channel Islands with an address at Elizabeth House, 9 Castle Street, St. Helier, JE2 3RT Jersey, Channel Islands (the “Issuer”), the Guarantors party hereto as of the date hereof, any other
Guarantor that becomes party hereto pursuant to Section 4.10, and U.S. Bank National Association, as trustee (as more fully defined in Section 1.01, the “Trustee”) and as collateral agent (as more fully defined in Section 1.01, the
“Collateral Agent”). 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of
the Holders of the Issuer’s 12% Senior Secured Notes due 2023 (as more fully defined in Section 1.01, the “Securities”). 

ARTICLE 1 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 SECTION 1.01. Definitions. 

“ABL Collateral” means all or any of the following assets and properties owned as of the Issue Date, or at any time thereafter
acquired, by the Issuer or any Restricted Subsidiary: (a) all Inventory; (b) all Accounts arising from the sale of Inventory or the provision of services; (c) to the extent evidencing, governing or securing the obligations of Account Debtors in
respect of the items referred to in the preceding clauses (a) and (b), all (i) General Intangibles, (ii) Chattel Paper, (iii) Instruments, (iv) Documents, (v) Payment Intangibles (including tax refunds), other than any Payment Intangibles that
represent tax refunds in respect of or otherwise relate to real property, Fixtures or Equipment (or any other Noteholder First Lien Collateral) and (vi) Supporting Obligations; (d) collection accounts and Deposit Accounts, including any Lockbox
Account, and any cash or other assets in any such accounts constituting Proceeds of clause (a) or (b) (excluding identifiable cash proceeds in respect of Noteholder First Lien Collateral, including proceeds from the sale of the Securities or any
cash, checks or other property held therein or credited thereto in respect of Noteholder First Lien Collateral); (e) all Indebtedness that arises from cash advances to enable the obligor or obligors thereon to acquire Inventory); (f) all books
and records related to the foregoing; and (g) all Products and Proceeds of any and all of the foregoing in whatever form received, including proceeds of insurance policies related to Inventory or Accounts arising from the sale of Inventory of the
Issuer or any Restricted Subsidiary or the provision of services by the Issuer or any Restricted Subsidiary and business interruption insurance; provided however that proceeds of ABL Collateral described in clauses (c) and (d) above shall not
constitute ABL Collateral unless such proceeds would otherwise constitute ABL Collateral in any of the foregoing clauses (a) through (f). All capitalized terms used in this definition and not defined elsewhere herein have the meanings assigned to
them in the Uniform Commercial Code. 
 “Accredited Investors” means “accredited investors” as defined in Rule
501(a)(1), (a)(2), (a)(3) or (a)(7) of Regulation D under the Securities Act. 

 “Acquired Indebtedness” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person is merged, consolidated or amalgamated with or into
or became a Restricted Subsidiary of such specified Person; and 
 (2) Indebtedness secured by a Lien encumbering any asset
acquired by such specified Person. 
 “Additional Cash Reserve Amount” means $2,160,000. 

“Additional Interest” means the interest payment by a Swiss Obligor exceeding the standard interest rate as calculated under Section
4.01(d). 
 “Additional Securities Triggering Event” means a press release publicly announcing the completion of field trials for
the MosaiQTM IH Microarray demonstrating greater than 99% concordance for the detection of blood-group antigens and greater than 95% concordance for the detection of blood group antibodies, in each case when compared to predicate technologies,
and in each case to detect the following blood group antigens or blood group antibodies – A, B, D, C, c, E, e, Cw, K and k. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under common
control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with
respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. 

“amalgamation” (in the case of the Issuer and any relevant Subsidiary) includes an amalgamation by way of scheme of arrangement (or
equivalent) under Jersey law, English law or any other relevant law. 
 “Applicable Market” means the donor testing market in the
United States and the European Union. For purposes of this definition, “donor testing market” means the collection of blood from donors and in relation to which Blood Grouping or Serological Disease Screening is performed, in each case, by
agencies that collect blood from donors for supply to entities that are not Affiliates of such agencies. 
 “Applicable Premium”
means, with respect to any Security (or portion thereof) to be redeemed on any redemption date, the greater of (x) 1.0% of the amount of principal of such Security to be redeemed and (y) the amount, if any, by which (a) the present value at such
redemption date of (i) the redemption price of the amount of principal of such Security to be redeemed on the First Call Date (as stated in the table immediately following the second paragraph under Paragraph 5 of the form of Security set forth in
Exhibit A hereto) plus (ii) all required interest payments due on the amount of principal of such Security to be redeemed through the First Call Date (excluding accrued but unpaid interest, if any, to the redemption date), computed using a discount
rate equal to the Treasury Rate in respect of such redemption date plus 100 basis points, exceeds (b) the amount of principal of such Security to be redeemed. The Trustee shall have no duty to calculate or verify the calculation of the Applicable
Premium. 

  
 2 

 “Approved Jurisdiction” means Jersey, Channel Islands, the United States, any state or
commonwealth thereof or the District of Columbia or any other country which is on the Issue Date a member of the Organization of Economic Cooperation and Development. 

“Asset Sale” means: 

(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions)
of property or assets (including by way of a Sale/Leaseback Transaction) of the Issuer or any Restricted Subsidiary of the Issuer (each referred to in this definition as a “disposition”); or 

(2) the issuance or sale of Equity Interests (other than directors’ qualifying shares and shares issued to foreign
nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary of the Issuer) (whether in a single transaction or a series of related transactions),

 in each case other than: 

(a) a disposition of (i) Cash Equivalents or Investment Grade Securities, (ii) obsolete, no longer useful, damaged or worn-out
assets, property or equipment in the ordinary course of business (including the abandonment or other disposition of Intellectual Property that is, in the reasonable judgment of the Issuer, no longer economically practicable or commercially
reasonable to maintain or useful in any material respect, taken as a whole, in the conduct of the business of the Issuer and its Restricted Subsidiaries taken as a whole), (iii) Inventory (as defined in the Uniform Commercial Code) or goods (or
other assets) held for sale in the ordinary course of business or (iv) equipment or other assets as part of a trade-in for replacement equipment; 

(b) the disposition of all or substantially all of the assets of the Issuer in a manner permitted pursuant to Section 5.01 or
any disposition that constitutes a Change of Control; 
 (c) any Restricted Payment that is permitted to be made, and is
made, under Section 4.04 or any Permitted Investment; 
 (d) any disposition of assets or issuance or sale of Equity
Interests of the Issuer or any Restricted Subsidiary, which assets or Equity Interests so disposed or issued have an aggregate Fair Market Value (as determined in good faith by the Issuer) of less than $1,000,000; 

(e) any disposition of property or assets, or the issuance of securities, by a Restricted Subsidiary of the Issuer to the
Issuer or by the Issuer or a Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the Issuer (or to an entity that contemporaneously therewith becomes a Restricted Subsidiary); 

(f) except in connection with a MosaiQTM Intellectual Property Sale or a MosaiQTM Intellectual Property License, any
exchange of assets (including a combination 

  
 3 

 
of assets and Cash Equivalents) (other than Intellectual Property) for assets related to a Similar Business of comparable or greater market value or usefulness to the business of the Issuer and
its Restricted Subsidiaries as a whole, as determined in good faith by the Issuer, which in the event of an exchange of assets with a Fair Market Value in excess of (A) $1,000,000 shall be evidenced by an Officers’ Certificate and (B)
$2,500,000 shall be set forth in a resolution approved in good faith by a majority of the Board of Directors of the Issuer; 

(g) foreclosure on assets of the Issuer or any of its Restricted Subsidiaries; 

(h) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary; 

(i) the lease, assignment or sublease of any real or personal property in the ordinary course of business; 

(j) (i) a MosaiQTM Intellectual Property License, the Ortho Agreement or any license agreement contemplated by a Permitted
Investment pursuant to clause (20) of the definition of “Permitted Investments” or (ii) any incidental license, collaboration agreement, strategic alliance or similar arrangement in the ordinary course of business providing for the
licensing of Intellectual Property or the development or commercialization of Intellectual Property that, at the time of such incidental license, collaboration agreement, strategic alliance or similar arrangement, does not materially and adversely
affect the business or condition (financial or otherwise) of the Issuer and any of its Restricted Subsidiaries, taken as whole, or the value of the Intellectual Property that is Notes Collateral, taken as a whole; 

(k) any surrender or waiver of contract rights or the settlement of, release of, recovery on or surrender of contract, tort or
other claims of any kind; 
 (l) in the ordinary course of business, any swap of assets, or lease, assignment or sublease of
any real or personal property, in each case, other than Intellectual Property, in exchange for services (including in connection with any outsourcing arrangements) of comparable or greater value or usefulness to the business of the Issuer and its
Restricted Subsidiaries taken as a whole, as determined in good faith by the Issuer; 
 (m) any financing transaction with
respect to property built or acquired by the Issuer or any of its Restricted Subsidiaries after the Issue Date, including any Sale/Leaseback Transaction or asset securitization, permitted by this Indenture, so long as any net cash proceeds from such
financing, Sale/Leaseback Transaction or asset securitization (other than a financing, Sale/Leaseback Transaction or asset securitization entered into within 180 days of the acquisition of such property) are treated as Net Proceeds of an Asset Sale
under this Indenture; 
 (n) the incurrence of Permitted Liens; 

(o) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Issuer or a Restricted 

  
 4 

 
Subsidiary of the Issuer) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with
such acquisition), made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; 

(p) dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of
business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 
 (q) the issuance of
Disqualified Stock or Preferred Stock permitted by Section 4.03; and 
 (r) the transfer, sale or other disposition resulting
from any involuntary loss of title, involuntary loss or damage to or destruction of, or any condemnation or other taking of, any property or assets of the Issuer or any Restricted Subsidiary. 

“Bank Indebtedness” means any and all amounts payable under or in respect of any Credit Agreement and the other Credit Agreement
Documents, as amended, restated, supplemented, waived, replaced, restructured, repaid, refunded, refinanced or otherwise modified from time to time (including after termination of such Credit Agreement), including principal, premium (if any),
interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Issuer whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses,
reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. 
 “Bank Products Agreement”
means any agreement pursuant to which a bank or other financial institution agrees to provide (a) treasury services, (b) credit card, debit card, merchant card, purchasing card, stored value card, non-card electronic payable or similar
services (including the processing of payments and other administrative services with respect thereto), (c) cash management or related services (including controlled disbursements, automated clearinghouse transactions, return items, netting,
overdrafts, depository, lockbox, stop payment, electronic funds transfer, information reporting, wire transfer and interstate depository network services) and (d) other banking, financial or treasury products or services as may be requested by
the Issuer or any Restricted Subsidiary (other than letters of credit and other than loans and advances, except indebtedness arising from services described in clauses (a) through (c) of this definition), including for the avoidance of
doubt, bank guarantees. 
 “Bank Products Obligations” of any Person means the obligations of such Person pursuant to any Bank
Products Agreement. 
 “Bankruptcy Law” means Title 11, United States Code, or any similar U.S. federal or state law for the
relief of debtors (or their non-U.S. equivalents). 
 “Blood Grouping” means characterizing blood-group antigens and antibodies to
such antigens in a given blood sample. 
 “Board of Directors” means, as to any Person, the board of directors, board of managers
or similar governing body, as applicable, of such Person (or, if such Person is a 

  
 5 

 
partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. References in this Indenture to directors (on a Board
of Directors) shall also be deemed to refer to managers (on a Board of Managers). 
 “Business Day” means a day other than a
Saturday, Sunday or other day on which banking institutions are authorized or required by law to close in New York City, Jersey, Channel Islands, or the city in which the Corporate Trust Office is located. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock or shares; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company,
partnership interests (whether general or limited) and membership interests; and 
 (4) any other interest or participation
that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person; 
 in each case to
the extent treated as equity in accordance with GAAP, but excluding from all of the foregoing any debt securities convertible into or exchangeable for Capital Stock whether or not such debt securities include any right of participation with Capital
Stock. 
 “Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability
in respect of a capital lease (or a finance lease upon adoption by the Issuer of ASU No. 2016-02, Leases (Topic 842)) that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the
footnotes thereto) in accordance with GAAP. 
 “Cash Contribution Amount” means the aggregate amount of cash contributions made to
the capital of the Issuer used for purposes of calculating the amount of Indebtedness that may be Incurred as “Contribution Indebtedness” as described in the definition of “Contribution Indebtedness”; provided that such cash
contributions shall cease to be treated as the Cash Contribution Amount to the extent the related Contribution Indebtedness has been reclassified in accordance with Section 4.03. 

“Cash Equivalents” means: 

(1) U.S. Dollars, Canadian dollars, Japanese yen, pounds sterling, Swiss francs, euros or the national currency of any member
state in the European Union; 
 (2) securities issued or directly and fully guaranteed or insured by the government of the
United States, Canada, Japan, the United Kingdom, Switzerland or any country that is a member of the European Union or any agency or instrumentality thereof, in each case maturing not more than two years from the date of acquisition; 

  
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 (3) certificates of deposit, time deposits and eurodollar time deposits with
maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250,000,000 and
whose long-term debt is rated “A” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized rating agency); 

(4) repurchase obligations for underlying securities of the types described in clauses (2) and (3) above entered into with any
financial institution meeting the qualifications specified in clause (3) above; 
 (5) commercial paper issued by a Person
(other than an Affiliate of the Issuer) rated at least “A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized rating agency), and in each case maturing within one
year after the date of acquisition; 
 (6) readily marketable direct obligations issued by any state or commonwealth of the
United States of America or the District of Columbia or any political subdivision thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally
recognized rating agency), in each case with maturities not exceeding two years from the date of acquisition; 
 (7)
Indebtedness issued by Persons (other than an Affiliate of the Issuer) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s (or reasonably equivalent ratings of another internationally recognized
rating agency), in each case with maturities not exceeding two years from the date of acquisition; and 
 (8) investment
funds investing at least 95% of their assets in securities of the types described in clauses (1) through (7) above. 
 “Cash Reserve
Account” means the Deposit Account (as defined in the Uniform Commercial Code) in the name of the Trustee maintained at U.S. Bank, National Association, in the United States of America with account number 276831004. 

“Cash Reserve Amount” means, at any time, an amount equal to the aggregate principal amount of Securities outstanding at such time
multiplied by .06. 
 “Change of Control” means the occurrence of any of the following events: 

(i) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all the assets of the
Issuer and its Subsidiaries, taken as a whole, to a Person other than any Permitted Holder or any of the Issuer or its Restricted Subsidiaries; 

  
 7 

 (ii) the Issuer becomes aware (by way of a report or any other filing pursuant to
Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person (other than any Permitted Holder) or Persons (other than any Permitted Holders) that are together a group (within the meaning of Section
13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act or any
successor provision), in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any
successor provision), of more than 50% of the total voting power of the issued and outstanding Voting Stock of the Issuer; or 

(iii) the adoption of a plan relating to the Issuer’s dissolution or liquidation in accordance with the Issuer’s
organizational documents. 
 Notwithstanding the foregoing, the acquisition, directly or indirectly, of 100% of the total voting power of
the issued and outstanding Voting Stock of the Issuer by any Person who, immediately after such acquisition, has no material assets other than the Capital Stock of the Issuer or its direct or indirect parent companies shall not, by itself,
constitute a Change of Control. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 

“Collateral Agent” means U.S. Bank National Association in its capacity as “Collateral Agent” under this Indenture and
under the Security Documents and any successor thereto in such capacity. 
 “Collateral Agreement” means the Collateral Agreement
dated as of the date hereof among the Issuer, the Guarantors party thereto, the Trustee and the Collateral Agent, as may be amended, extended, renewed, restated, supplemented, waived or otherwise modified from time to time. 

“Confidentiality Agreement” means a confidentiality agreement substantially in the form attached to this Indenture as Exhibit E.

 “Consolidated Interest Expense” means, with respect to any Person for any period, the sum, without duplication, of: 

(1) consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such expense
was deducted in computing Consolidated Net Income (including amortization of original issue discount, the interest component of Capitalized Lease Obligations, and net payments and receipts (if any) pursuant to interest rate Hedging Obligations,
amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, non-cash interest expense, all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers acceptances and
expensing of any bridge, commitment or other financing fees); plus 

  
 8 

 (2) consolidated capitalized interest of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued; minus 
 (3) interest income for such period. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Leverage Ratio” means, with respect to any Person, at any date, the ratio of (i) Indebtedness of such Person and its
Restricted Subsidiaries as of such date of calculation (determined on a consolidated basis in accordance with GAAP) less the amount of Cash Equivalents in excess of any Restricted Cash that would be stated on the balance sheet of such Person and its
Restricted Subsidiaries and held by such Person and its Restricted Subsidiaries as of such date of determination, not to exceed $20,000,000, to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are
available immediately preceding such date. In the event that the Issuer or any of its Restricted Subsidiaries Incurs, repays, repurchases, defeases or redeems any Indebtedness subsequent to the commencement of the period for which the Consolidated
Leverage Ratio is being calculated but prior to the event for which the calculation of the Consolidated Leverage Ratio is made (the “Consolidated Leverage Calculation Date”), then the Consolidated Leverage Ratio shall be calculated giving
pro forma effect to such Incurrence, repayment, repurchase, defeasance or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Issuer may elect pursuant to an Officers’
Certificate delivered to the Trustee to treat all or any portion of the commitment under any Indebtedness as being Incurred at such time, in which case any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes
of this calculation, to be an Incurrence at such subsequent time; provided, further, that any Cash Equivalent proceeds received in connection with or as a result of such Incurrence or other transaction for which the Consolidated Leverage Ratio is
being calculated shall not be subtracted from Indebtedness for purposes of calculating the Consolidated Leverage Ratio. 
 For purposes of
making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to a business, a division or an
operating unit of a business, as applicable, that the Issuer or any of its Restricted Subsidiaries has determined to make or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously
with the Consolidated Leverage Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (and the change of any
associated Indebtedness and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged
with or into the Issuer or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, amalgamation or discontinued operation, in each case with respect to a business,
a division or an operating unit of a business, as applicable, that would have required adjustment pursuant to this definition, then the Consolidated 

  
 9 

 
Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, amalgamation, consolidation or discontinued
operation had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition, whenever pro forma
effect is to be given to any event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer in accordance with Regulation S-X under the Securities Act. Any such pro forma
calculation may include adjustments appropriate, in the reasonable good faith determination of the Issuer in accordance with Regulation S-X under the Securities Act, to reflect operating expense reductions reasonably expected to result from the
applicable event; provided, that any such operating expense reductions shall be approved by the audit committee of the Board of Directors of the Issuer if in excess of $5,000,000. 

For purposes of this definition, any amount in a currency other than U.S. Dollars will be converted to U.S. Dollars based on the average
exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income of such Person and its
Restricted Subsidiaries for such period, on a consolidated basis; provided, however, that: 
 (1) any net
after-tax extraordinary, nonrecurring or unusual gains or losses (less all fees and expenses relating thereto) shall be excluded; 

(2) effects of purchase accounting adjustments (including the effects of such adjustments pushed down to such Person and such
Subsidiaries) in amounts required or permitted by GAAP, resulting from the application of purchase accounting in relation to any consummated acquisition or the amortization or write-off of any amounts thereof, net of taxes, shall be excluded; 

(3) the Net Income for such period shall not include the cumulative effect of a change in accounting principles during such
period; 
 (4) any net after-tax income or loss from disposed, abandoned, transferred, closed or discontinued operations and
any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; 

(5) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business
dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Issuer) shall be excluded; 

(6) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of indebtedness, and any unrealized gains and losses relating to Hedging Obligations or other derivative instruments shall be excluded; 

  
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 (7) the Net Income for such period of any Person that is not a Subsidiary of such
Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted into
cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; 
 (8) solely for the purpose of
determining the amount available for Restricted Payments under clause (1) of the definition of “Cumulative Credit,” the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that
the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or
indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders or equityholders, unless such
restrictions with respect to the payment of dividends or similar distributions have been legally waived; provided that the Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other
payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already included therein; 

(9) any impairment charges or asset write-offs, in each case pursuant to GAAP, and the amortization of intangibles arising
pursuant to GAAP shall be excluded; 
 (10) any non-cash expense realized or resulting from stock option plans, employee
benefit plans or post-employment benefit plans, or grants or sales of stock, stock appreciation or similar rights, stock options, restricted stock, preferred stock or other rights shall be excluded; 

(11) any one-time non-cash compensation charges shall be excluded; 

(12) accruals and reserves that are established or adjusted within 12 months after the Issue Date and that are so required to
be established or adjusted in accordance with GAAP or as a result of adoption or modification of accounting policies shall be excluded; 

(13) non-cash gains, losses, income and expenses resulting from fair value accounting required by the applicable standard under
GAAP and related interpretations shall be excluded; 
 (14) any currency translation gains and losses related to currency
remeasurements of Indebtedness, and any net loss or gain resulting from Hedging Obligations, shall be excluded; 
 (15) any
non-cash after-tax interest expense resulting from the application of Accounting Standards Codification Topic 470-20 “Debt — Debt with Conversion Options — Recognition” shall be excluded;
and 

  
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 (16) to the extent covered by insurance and actually reimbursed, or, so long as
such Person has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (a) not denied by the applicable carrier in writing within 180 days and
(b) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days), such loss or expense amounts as are so reimbursed, or reimbursable, by insurance
providers in respect of liability or casualty events or business interruption shall be excluded. 
 Notwithstanding the foregoing, for the
purpose of Section 4.04 only, there shall be excluded from Consolidated Net Income any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries of the Issuer or a Restricted Subsidiary of the Issuer to
the extent such dividends, repayments or transfers increase the amount of Restricted Payments permitted under clauses (5) and (6) of the definition of “Cumulative Credit.” 

“Consolidated Non-cash Charges” means, with respect to any Person for any period, the aggregate depreciation, amortization and other
non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person for such period on a consolidated basis and otherwise determined in accordance with GAAP, but excluding any such charge that consists of
or requires an accrual of, or cash reserve for, anticipated cash charges for any future period. 
 “Consolidated Taxes” means,
with respect to any Person for any period, the provision for taxes for such Person and its Restricted Subsidiaries based on income, profits or capital, including state, franchise, property and similar taxes and foreign withholding taxes (including
penalties and interest related to such taxes or arising from tax examinations). 
 “Contingent Obligations” means, with respect to
any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether
directly or indirectly, including any obligation of such Person, whether or not contingent: 
 (1) to purchase any such
primary obligation or any property constituting direct or indirect security therefor; 
 (2) to advance or supply funds: 

(a) for the purchase or payment of any such primary obligation; or 

(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or 
 (3) to purchase property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

  
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 “Contribution Indebtedness” means Indebtedness of the Issuer or any Guarantor and
Preferred Stock of any Guarantor in an aggregate principal amount not greater than the aggregate amount of cash contributions (other than Excluded Contributions) made to the capital of the Issuer or such Guarantor after the Issue Date;
provided that: 
 (1) such cash contributions have not been used to make a Restricted Payment or a Permitted
Investment in any Person other than the Issuer or a Guarantor; and 
 (2) such Contribution Indebtedness (a) is Incurred
within 180 days after the making of such cash contributions and (b) is so designated as Contribution Indebtedness pursuant to an Officers’ Certificate on the Incurrence date thereof. 

“Corporate Trust Office” means the address of the Trustee specified in Section 12.01 or such other address as to which the Trustee
may give notice to the Holders and the Issuer. 
 “Credit Agreement” means (i) if designated by the Issuer to be included in the
definition of “Credit Agreement,” any revolving credit, line of credit or similar agreement, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or otherwise),
restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or instrument extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the Indebtedness under
such agreement or instrument or any successor or replacement agreement or agreements or instrument or instruments or increasing the amount loaned or issued thereunder or altering the maturity thereof and (ii) whether or not the agreements or
instruments referred to in clause (i) remain outstanding, and if designated by the Issuer to be included in the definition of “Credit Agreement,” one or more (A) debt facilities or commercial paper facilities, providing for revolving
credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables), capital leases or letters of credit, or (B) debt
securities, indentures or other forms of debt financing (including convertible or exchangeable debt instruments or bank guarantees or bankers’ acceptances), in each case, with the same or different borrowers or issuers and, in each case, as
amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. 

“Credit Agreement Documents” means any Credit Agreement, any notes issued pursuant thereto and the guarantees thereof, and the
collateral documents relating thereto, as amended, supplemented, restated, renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified from time to time. 

“Cumulative Credit” means the sum of (without duplication): 

(1) 50% of the Consolidated Net Income for the period (taken as one accounting period, the “Reference Period”) from
January 1, 2017 to the end of the Issuer’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payments (or, in the case such Consolidated Net Income for such Reference
Period is a deficit, minus 100% of such deficit); plus 

  
 13 

 (2) 100% of the aggregate net proceeds, including cash and the Fair Market Value
(as determined in good faith by the Issuer) of property other than cash, received by the Issuer after January 1, 2017 from the issue or sale of Equity Interests of the Issuer (excluding Refunding Capital Stock, Designated Preferred Stock, Excluded
Contributions, Disqualified Stock and the Cash Contribution Amount), including Equity Interests issued upon conversion or exchange of Indebtedness or Disqualified Stock or upon exercise of warrants or options (other than an issuance or sale to a
Restricted Subsidiary of the Issuer or to an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries); plus 

(3) 100% of the aggregate amount of contributions to the capital of the Issuer received in cash and the Fair Market Value (as
determined in good faith by the Issuer) of property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, Disqualified Stock and the Cash Contribution Amount); plus 

(4) the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the case may
be, of any Disqualified Stock of the Issuer or any Restricted Subsidiary thereof issued after the Issue Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) that has been converted into or exchanged for Equity
Interests in the Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer (provided in the case of any such parent, such Indebtedness or Disqualified Stock is retired or extinguished); plus 

(5) 100% of the aggregate amount received by the Issuer or any Restricted Subsidiary after the Issue Date in cash and the Fair
Market Value (as determined in good faith by the Issuer) of property other than cash received by the Issuer or any Restricted Subsidiary after the Issue Date from: 

(A) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary of the Issuer) of Restricted
Investments made by the Issuer and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Issuer and its Restricted Subsidiaries by any Person (other than the Issuer or any of its Restricted
Subsidiaries) and from repayments of loans or advances that constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made pursuant to clause (vii) or (x) of Section 4.04(b)); 

(B) the sale (other than to the Issuer or a Restricted Subsidiary of the Issuer) of the Capital Stock of an Unrestricted
Subsidiary; and 
 (C) a distribution or dividend from an Unrestricted Subsidiary; plus 

(6) in the event any Unrestricted Subsidiary of the Issuer has been redesignated as a Restricted Subsidiary or has been merged,
consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer, the Fair Market Value (as determined in good faith by

  
 14 

 
the Issuer) of the Investment of the Issuer or a Restricted Subsidiary in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or
conveyed, as applicable), after taking into account any Indebtedness associated with the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the
extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made pursuant to clause (vii) or (x) of Section 4.04(b) or constituted a Permitted Investment). 

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

“Default” means any event that is, or after notice or passage of time or both would be, an Event of Default. 

“Designated Non-cash Consideration” means the Fair Market Value (as determined in good faith by the Issuer) of non-cash
consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officers’ Certificate, setting forth the basis of such
valuation, less the amount of Cash Equivalents received in connection with a subsequent sale of such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable
(other than Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated
Preferred Stock, pursuant to an Officers’ Certificate, on the issuance date thereof. 
 “Disqualified Stock” means, with
respect to any Person, any Capital Stock of such Person that, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: 

(1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are no more favorable in any material respect to holders of such Capital Stock than the provisions of Sections 4.06 and
4.08 (as applicable) and any purchase requirement triggered thereby may not become operative until after compliance with the provisions of Sections 4.06 and 4.08 (as applicable) (including the purchase of any Securities tendered and not withdrawn
pursuant thereto)); 
 (2) is convertible or exchangeable for Indebtedness or Disqualified Stock of such Person; or 

(3) is redeemable at the option of the holder thereof, in whole or in part (other than solely as a result of a change of
control or asset sale), 
 in each case prior to 91 days after the earlier of the Stated Maturity of the Securities and the date the Securities are no
longer outstanding; provided, however, that only the portion of Capital 

  
 15 

 
Stock that so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified
Stock; provided, further, however, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries or by any such plan to such employees, such Capital Stock
shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability;
provided, further, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be deemed to be
Disqualified Stock. 
 “DTC” means The Depository Trust Company, its nominees and their respective successors. 

“EBITDA” means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period plus, without
duplication, to the extent the same was deducted (or otherwise not included) in calculating Consolidated Net Income: 
 (1)
Consolidated Taxes; plus 
 (2) Consolidated Interest Expense plus all cash dividend payments (excluding items
eliminated in consolidation) on a series of Preferred Stock or Disqualified Stock of such Person and its Subsidiaries that are Restricted Subsidiaries; plus 

(3) Consolidated Non-cash Charges; plus 

(4) any expenses or charges related to any issuance of Equity Interests, Investment, acquisition, disposition, recapitalization
or the incurrence or repayment of Indebtedness permitted to be incurred by this Indenture (including a refinancing thereof) (whether or not successful), including (i) such fees, expenses or charges related to the offering of the Securities and the
Bank Indebtedness and (ii) any amendment or other modification of the Securities or other Indebtedness; plus 
 (5)
non-recurring charges or expenses and restructuring charges, reserves or expenses (which, for the avoidance of doubt, shall include, the costs related to severance or relocation, facility openings or closures, retention, contract termination costs,
project start-up costs, acquisition integration costs and excess pension charges); plus 
 (6) any costs or expenses
incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash
proceeds contributed to the capital of the Issuer or a Guarantor or net cash proceeds of an issuance of Equity Interests of the Issuer (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded from the calculation
of the Cumulative Credit; 

  
 16 

 less, without duplication, 

(7) non-cash items increasing Consolidated Net Income for such period (excluding the recognition of deferred revenue or any
items that represent the reversal of any accrual of, or cash reserve for, anticipated cash charges that reduced EBITDA in any prior period and any items for which cash was received in a prior period). 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). 
 “Exchange Act” means the United States Securities
Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 “Excluded Assets” means (i)
any license, contract, permit or agreement of the Issuer or any of the Guarantors, or the property or assets subject thereto, if and only for so long as and to the extent that the grant of a security interest under the Security Documents would
result in a breach, termination or default under, or abandonment, invalidation or unenforceability of, that license, contract, permit or agreement (except (x) to the extent the relevant term that would result in such breach, termination, default,
abandonment, invalidation or unenforceability is rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or equivalent statutes of any jurisdiction) or any other applicable law or (y) any such license,
contract, permit or agreement between the Issuer and any Subsidiary of the Issuer or between Subsidiaries of the Issuer, or the property or assets subject thereto) (in each case, so long as no other Person is granted a Lien (other than a Permitted
Lien that is not an Excluded Permitted Lien) in respect thereof), (ii) any fee or leasehold interests in real property if the greater of the cost and the book value of such interest is less than $750,000, (iii) any asset or property to the extent
that the grant of a security interest in such asset or property is prohibited by any applicable law or requires a consent not obtained of any Governmental Authority pursuant to applicable law (except to the extent the law prohibiting such grant or
requiring such consent is rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or equivalent statutes of any jurisdiction) or any other applicable law), (iv) any assets or property as to which the
Issuer or the Collateral Agent (at the direction of the Holders of a majority in principal amount of the Securities then outstanding) reasonably determines in good faith that the costs of obtaining such a security interest are excessive in relation
to the value of the security to be afforded thereby, (v) any property or assets owned by any Unrestricted Subsidiaries, (vi) any payroll accounts, payroll withholding tax accounts, pension and pension reserve accounts and employee benefit accounts
to the extent funded or maintained in accordance with prudent business practice or as required by law, (vii) any plants, machinery, equipment, inventory or other movable personal property that is located in Switzerland and owned by Quotient Suisse
or any other Swiss Obligor, to the extent that security over such plants, machinery, equipment, inventory or other movable personal property is not practical as a matter of Swiss law (in each case, so long as no other Person is granted a Lien (other
than a Permitted Swiss Lien) in respect of such plants, machinery, equipment, inventory or other movable personal property), (viii) motor vehicles and other rolling stock, (ix) any equipment or other asset owned by the Issuer or any Guarantor that
is subject to a purchase money lien or a Capitalized Lease Obligation, in each case, as permitted under this Indenture, if the contract or other agreement in which the Lien is granted (or the documentation providing for the Capitalized Lease
Obligation) prohibits or requires the consent of any Person other than the 

  
 17 

 
Issuer or the Guarantors as a condition to the creation of any other security interest on the equipment or asset and, in each case, the prohibition or requirement is permitted under this
Indenture, (x) any trademark or service mark applications filed in the United States Patent and Trademark Office on the basis of the intent of the Issuer or any Guarantor to use such trademark or service mark, to the extent that granting a security
interest in such application prior to such filing would adversely affect the validity or enforceability of such trademark application, unless and until evidence of use of such mark is filed with and accepted by the United States Patent and Trademark
Office, (xi) commercial tort claims reasonably expected to result in a recovery less than $1,000,000, (xii) any Lockbox Account to the extent such Lockbox Account is pledged as collateral to secure any First Priority Lien Obligations and (xiii)
proceeds from any and all of the foregoing Excluded Assets described in clauses (i) through (xii) to the extent they constitute Excluded Assets. 

“Excluded Contributions” means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith
by the Issuer) received by the Issuer after the Issue Date from: 
 (1) contributions to its common equity capital; and 

(2) the sale (other than to a Subsidiary of the Issuer or to any Subsidiary management equity plan or stock option plan or any
other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Issuer, 
 in
each case designated as Excluded Contributions pursuant to an Officers’ Certificate on or after the date such capital contributions are made or the date such Capital Stock is sold, as the case may be. 

“Excluded Permitted Liens” means, with respect to any Person, (i) Liens Incurred under clause (6), (18) (insofar as any such Lien
secures any Refinancing Secured Indebtedness of any Indebtedness secured by any Lien referred to in clause (6)(B) of the definition of “Permitted Liens”) or (26) of the definition of “Permitted Liens” and (ii) Liens incurred
under clause (28) of the definition of “Permitted Liens” on the identifiable proceeds of any property or asset subject to a Lien Incurred under clauses (6) or (26) of the definition of “Permitted Liens.” 

“Fair Market Value” means, with respect to any asset or property (after taking into account any liability related to such asset or
property), the price that could be negotiated in an arm’s-length transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Indenture (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with) or any regulations thereunder or official interpretations thereof or an intergovernmental agreement between the United States and another jurisdiction facilitating the
implementation thereof (or any fiscal or regulatory legislation, rules or practices implementing such an intergovernmental agreement). 

  
 18 

 “Federal Deposit Insurance Corporation” means the Federal Deposit Insurance Corporation
or any successor thereto. 
 “Financial Officer” of any Person shall mean the Chief Financial Officer, principal accounting
officer, Treasurer, Assistant Treasurer or Controller of such Person. 
 “First Amortization Date” means, with respect to any
security, the date specified in such security as the fixed date on which the first payment of principal of such security is due and payable. 

“First Lien Agent” means the Representative(s) of the holders of the First Priority Lien Obligations to the extent designated as
such in an Intercreditor Agreement. 
 “First Priority Lien Obligations” means (i) all Secured Bank Indebtedness and (ii) all
other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness, to the extent that, in the case of each of clause (i) or (ii), such Indebtedness or other
Obligations are secured, in whole or in part, by the ABL Collateral and have otherwise been incurred in accordance with this Indenture. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession. 
 Notwithstanding any other provision contained herein, and for the avoidance of doubt,
all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to the adoption by the Issuer of ASU No. 2016-02, Leases (Topic
842), to the extent such adoption would require treating any lease (or similar arrangement conveying the right to use) as a finance lease where such lease (or similar arrangement) would not have been required to be treated as a capital lease
under generally accepted accounting principles in the United States as in effect on March 31, 2016. 
 “Governmental Authority”
means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“guarantee” means a guarantee or other provision of credit support (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations, including by providing
security therefor or by becoming a co-obligor with respect thereto. The term, “guarantee,” when used as a verb, shall mean to provide a guarantee. 

  
 19 

 “Guarantee” means any guarantee of the obligations of the Issuer under this Indenture
and the Securities by any Person in accordance with the provisions of this Indenture. 
 “Guarantor” means any Subsidiary of the
Issuer party to this Indenture on the Issue Date and any other Person that Incurs a Guarantee pursuant to Section 4.10; provided, however, that upon the release or discharge of such Person from its Guarantee in accordance with this Indenture, such
Person ceases to be a Guarantor. 
 “Hedging Obligations” means, with respect to any Person, the obligations of such Person under:

 (1) currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap
agreements and currency exchange, interest rate or commodity collar agreements; and 
 (2) other agreements or arrangements
designed to protect such Person against fluctuations in currency exchange, interest rates or commodity prices or to otherwise manage interest rate risk or currency exchange risk. 

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

“Incur” means issue, assume, guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness
or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary; and
“Incurrence” has a correlative meaning. 
 “Indebtedness” means, with respect to any Person: 

(1) the principal and premium (if any) of any indebtedness of such Person, whether or not contingent, (a) in respect of
borrowed money, (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof), (c) representing the deferred and unpaid
purchase price of any property (except (i) any such balance that constitutes a trade payable or similar obligation to a trade creditor Incurred in the ordinary course of business and (ii) any liabilities accrued in the ordinary course of business),
which purchase price is due more than six months after the date of placing the property in service or taking delivery and title thereto, (d) in respect of Capitalized Lease Obligations or (e) representing any Hedging Obligations, if and to the
extent that any of the foregoing indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(2) to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or
otherwise, on the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and 

  
 20 

 (3) to the extent not otherwise included, Indebtedness of another Person secured
by a Lien on any asset owned by such Person (whether or not such Indebtedness is assumed by such Person); provided, however, that the amount of such Indebtedness will be the lesser of: (a) the Fair Market Value (as determined in good faith by
the Issuer) of such asset at such date of determination; and (b) the amount of such Indebtedness of such other Person; 
 provided, however,
that notwithstanding the foregoing, Indebtedness shall be deemed not to include: (1) Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money; (2) deferred or prepaid revenues; (3) purchase price
holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed obligations of the respective seller; (4) any earn-out obligations, purchase price adjustments, deferred purchase money amounts, milestone
or bonus payments (whether performance or time-based), and royalty, licensing, revenue or profit sharing arrangements, in each case, characterized as such and arising expressly out of purchase and sale contracts, development arrangements or
licensing arrangements; or (5) obligations associated with post-retirement benefits and pension plans provided or maintained by any Person pursuant to the requirements of Swiss law. 

Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect to,
the effects of Accounting Standards Codification section 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for any
embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an Incurrence of Indebtedness under this
Indenture. 
 “Indenture” means this Indenture, as amended, restated or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm or consultant, in each case of recognized
standing in the United States, that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. 

“Initial Cash Reserve Amount” means $5,040,000. 

“Intellectual Property” means, with respect to any Person, all intellectual property and proprietary rights in any jurisdiction
throughout the world, and all corresponding rights, presently or hereafter existing, including: (a) all inventions (whether or not patentable or reduced to practice), all improvements thereto, and all patents, patent applications, industrial
designs, industrial design applications, and patent disclosures, together with all reissues, continuations, continuations-in-part, revisions, divisionals, extensions, and reexaminations in connection therewith; (b) all trademarks, trademark
applications, tradenames, servicemarks, servicemark applications, trade dress, logos and designs, business names, company names, Internet domain names, and all other indicia of origin, all applications, registrations, and renewals in connection
therewith, and all goodwill associated with any of the foregoing; (c) all copyrights and other 

  
 21 

 
works of authorship, mask works, database rights and moral rights, and all applications, registrations, and renewals in connection therewith; (d) all trade secrets, know-how, technologies,
processes, techniques, new drug applications, abbreviated new drug applications, biologic license applications or 351(k) biologic license applications (or equivalent non-U.S. applications of any of the foregoing), protocols, methods, industrial
models, designs, drawings, plans, specifications, research and development, and confidential information (including technical data, customer and supplier lists, manufacturing processes, pricing and cost information, and business and marketing plans
and proposals); (e) all software (including source code, executable code, data, databases, and related documentation); (f) all rights of privacy and publicity, including rights to the use of names, likenesses, images, voices, signatures and
biographical information of real persons; (g) licenses and commercial marketing rights; and (h) all copies and tangible embodiments or descriptions of any of the foregoing (in whatever form or medium). 

“Intercreditor Agreement” means any intercreditor agreement, substantially in the form of Exhibit D attached hereto, among the
holders of First Priority Lien Obligations or their Representative(s), the Trustee or the Collateral Agent, the Issuer and each Guarantor that may be party thereto from time to time, as it may be amended from time to time in accordance with this
Indenture. 
 “Investment Grade Securities” means: 

(1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents); 
 (2) securities that have a rating equal to or higher than “Baa3” (or
equivalent) by Moody’s or “BBB-” (or equivalent) by S&P, or an equivalent rating by any other Rating Agency, but excluding any debt securities or loans or advances between and among the Issuer and its Subsidiaries; 

(3) investments in any fund that invests exclusively in investments of the type described in clauses (1) and (2), which fund
may also hold immaterial amounts of cash pending investment or distribution; and 
 (4) corresponding instruments in
countries other than the United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of acquisition. 

“Investments” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form
of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission, travel and similar advances to officers, employees, directors, consultants and advisors made in
the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be classified on the balance sheet of
the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. Except as otherwise provided in this Indenture, the

  
 22 

 
outstanding amount of any Investment shall be deemed to be the initial cost of such Investment when made, purchased or acquired (without giving effect to any adjustments for subsequent increases
or decreases in value), but shall give effect to any repayments, interest, returns, profits, dividends, distributions, proceeds, fees, income and other amounts actually received by the Issuer or any Restricted Subsidiary of the Issuer in respect of
such Investment and be determined without regard to any write-downs or write-offs of any investments, loans or advances in connection therewith. For purposes of the definition of “Unrestricted Subsidiary” and Section 4.04: 

(1) “Investments” shall include the portion (proportionate to the Issuer’s equity interest in such Subsidiary)
of the Fair Market Value (as determined in good faith by the Issuer) of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary or ceases to be a Subsidiary (to the extent the Issuer
retains an Investment in such Person); and 
 (2) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its Fair Market Value (as determined in good faith by the Issuer) at the time of such transfer, in each case as determined in good faith by the Board of Directors of the Issuer. 

“IRS” means the U.S. Internal Revenue Service. 

“Issue Date” means October 14, 2016. 

“Issuer” has the meaning set forth in the preamble hereof but, for the avoidance of doubt, shall not include any of its
Subsidiaries. 
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of
any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell
or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction); provided that in no event shall an operating lease be deemed to
constitute a Lien. 
 “Lockbox Account” means any Deposit Account maintained at a depository institution whose customer deposits
are insured by the Federal Deposit Insurance Corporation (to the extent required by law), into which account are paid solely the Proceeds of Inventory and Accounts that constitute ABL Collateral. All capitalized terms used in this definition and not
defined elsewhere herein have the meanings assigned to them in the Uniform Commercial Code. 
 “Moody’s” means Moody’s
Investors Service, Inc. or any successor to the rating agency business thereof. 
 “MosaiQTM” means the technology platform
being developed by the Issuer and its Subsidiaries that is known as MosaiQTM (whether marketed under such name or any other name), comprised of a high-throughput instrument and the related consumables for use with such instrument. 

  
 23 

 “MosaiQTM Excess License Proceeds” means the aggregate cash proceeds in respect of
any MosaiQTM Intellectual Property Licenses in excess of $10,000,000 to the extent such proceeds constitute fixed cash payments not based on the occurrence (or non-occurrence) of any event (other than solely the passage of time) payable under
such MosaiQTM Intellectual Property Licenses; provided, however, that (i) cash payments received under the Ortho Agreement, including any amendments thereto (so long as any such amendment is not as a whole less favorable to the holders of the
Securities in any respect than the Ortho Agreement as in effect on the Issue Date), shall not constitute MosaiQTM Excess License Proceeds and (ii) cash payments received as reimbursement for expenditures in connection with work to be
undertaken by the Issuer or any Subsidiary under any MosaiQTM Intellectual Property License shall not constitute MosaiQTM Excess License Proceeds. 

“MosaiQTM Intellectual Property Licenses” means the licensing, development or commercialization of all or any substantial
portion of the Intellectual Property related to MosaiQTM pursuant to any license, collaboration agreement, co-promotion, strategic alliance or similar arrangement. 

“MosaiQTM Intellectual Property Sale” means the sale, conveyance, transfer or other disposition (whether in a single transaction
or a series of related transactions), other than, for the avoidance of doubt, pursuant to MosaiQTM Intellectual Property Licenses, of all or any substantial portion of the Intellectual Property related to MosaiQTM. 

“MosaiQTM Net Sales” means the gross amount invoiced for sales of MosaiQTM instruments and related consumables in arm’s
length sales by the Issuer, any of its Affiliates or the Issuer’s licensees, sublicensees, assignees, transferees or other commercial partners (or any of their respective Affiliates) to independent, unrelated third parties, less the following
deductions from such gross amounts that are actually incurred, allowed, accrued or specifically allocated: (i) credits, price adjustments or allowances for damaged products (to the extent not covered by insurance), defective goods, returns or
rejections of MosaiQTM instruments or related consumables; (ii) normal and customary trade, cash and quantity discounts, allowances and credits (other than price discounts granted at the time of invoicing that have been already reflected in the
gross amount invoiced); (iii) chargeback payments, rebates and similar allowances (or the equivalent thereof) granted to group purchasing organizations, managed health care organizations, distributors or wholesalers or to federal, state/provincial,
local and other governments, including their agencies, or to trade customers; (iv) any fees paid to any third party logistics providers, wholesalers and distributors; (v) any freight, postage, shipping, insurance and other transportation charges
incurred by the selling Person in connection with shipping MosaiQTM instruments or related consumables to third party logistics providers, wholesalers and distributors and to customers; (vi) adjustments for billing errors or recalls; (vii)
sales, value-added (to the extent not refundable in accordance with applicable law), and excise taxes, tariffs and duties, and other taxes (including annual fees due under Section 9008 of the United States Patient Protection and Affordable Care Act
of 2010 (Pub. L. No. 111-48) and other comparable laws), levied on, absorbed, determined or imposed with respect to such sale (but not including taxes assessed against the income derived from such sale); and (viii) amounts written off by reason of
uncollectible debt, provided that if the debt is thereafter paid, the corresponding amount shall be added to the MosaiQTM Net Sales of the period during which it is paid. MosaiQTM Net Sales, as set forth in this definition, shall be
calculated applying, in accordance with GAAP, the standard accounting practices the selling Person customarily applies to other branded products sold by it or its Affiliates under similar trade terms and conditions. 

  
 24 

 “Net Income” means, with respect to any Person, the net income (loss) of such Person
and its Subsidiaries, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 
 “Net
Proceeds” means the aggregate cash proceeds received by the Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale (including any cash received in respect of or upon the sale or other disposition of any Designated Non-cash
Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring
Person of Indebtedness relating to the disposed assets or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including
legal, accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or
deductions and any tax sharing arrangements to the extent related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section 4.06(b)(i)) to be paid
as a result of such transaction, and any deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer
after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“Noteholder First Lien Collateral” means the Notes Collateral, other than the ABL Collateral with respect to First Priority Lien
Obligations. 
 “Notes Collateral” means all property subject, or purported to be subject from time to time, to a Lien under any
Security Documents, including, as of the Issue Date, the Cash Reserve Account. The Notes Collateral does not include the Excluded Assets. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements (including reimbursement obligations
with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing any Indebtedness; provided, however, that Obligations with respect to the Securities shall not
include fees or indemnifications in favor of the Trustee and the Collateral Agent. 
 “Officer” means the Chairman of the Board,
the Chief Executive Officer, the Chief Financial Officer, the President, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or the Secretary of the Issuer. 

“Officers’ Certificate” means a certificate signed on behalf of the Issuer by two Officers of the Issuer, one of whom must be
the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Issuer that meets the requirements set forth in this Indenture. 

  
 25 

 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to
the Trustee and may be an employee of or counsel to the Issuer or the Trustee. 
 “Original Securities” means the Issuer’s
12% Senior Secured Notes due 2023 that are issued on the Issue Date pursuant to Section 2.01(b). 
 “Ortho Agreement” means
the Distribution and Supply Agreement, dated January 29, 2015, among QBD (QS IP) Limited, Quotient Suisse and Ortho-Clinical Diagnostics, Inc. and any amendments thereto. 

“Pari Passu Indebtedness” means: 

(1) with respect to the Issuer, the Securities and any Indebtedness that (i) ranks pari passu in right of payment to the
Securities and (ii) is secured by Liens on the Notes Collateral that rank pari passu as to Lien priority with the Liens on the Notes Collateral securing the Securities; and 

(2) with respect to any Guarantor, its Guarantee and any Indebtedness that (i) ranks pari passu in right of payment to
such Guarantor’s Guarantee and (ii) is secured by Liens on the Notes Collateral that rank pari passu as to Lien priority with the Liens on the Notes Collateral securing such Guarantor’s Guarantee. 

“Permitted Holders” means (i) D.J. Paul E. Cowan, (ii) a parent, brother or sister of the individual named in clause (i), (iii) the
spouse or a former spouse of any individual named in clause (i) or (ii), (iv) the lineal descendants of any person named in clauses (i) through (iii) and the spouse or a former spouse of any such lineal descendant, (v) the estate or any guardian,
custodian or other legal representative of any individual named in clauses (i) through (iv), (vi) any trust established principally for the benefit of any one or more of the individuals named in clauses (i) through (v), (vii) any Person in which a
majority of the equity interests (by both voting power and economic value) are owned, directly or indirectly, by any one or more of the Persons named in clauses (i) through (vi), and (viii) Galen Partners V LP, Galen Partners International V LP,
Galen Management LLC, Galen Partners V, L.L.C. and any of their Affiliates of which a majority of the equity interests (by both vote and value) are owned, directly or indirectly, by them (other than any of their portfolio companies). 

“Permitted Investments” means: 

(1) any Investment in the Issuer or any Restricted Subsidiary; 

(2) any Investment in Cash Equivalents or Investment Grade Securities; 

(3) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person if as a result of such Investment (a)
such Person becomes a Restricted Subsidiary of the Issuer or (b) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially all of its assets
to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; 

  
 26 

 (4) any Investment in securities or other assets not constituting Cash
Equivalents and received in connection with an Asset Sale made pursuant to the provisions of Section 4.06 or any other disposition of assets not constituting an Asset Sale; 

(5) any Investment existing on, or made pursuant to binding commitments existing on, the Issue Date or an Investment consisting
of any extension, modification or renewal of any Investment existing on the Issue Date; provided that the amount of any such Investment may be increased as required by the terms of such Investment as in existence on the Issue Date; 

(6) advances to employees not in excess of $1,000,000 outstanding at any one time in the aggregate; 

(7) any Investment acquired by the Issuer or any of its Restricted Subsidiaries (a) in exchange for any other Investment or
accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable or (b) as a result
of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(8) Hedging Obligations permitted under Section 4.03(b)(x); 

(9) any Investment by the Issuer or any of its Restricted Subsidiaries in a Similar Business having an aggregate Fair Market
Value (as determined in good faith by the Issuer), taken together with all other Investments made pursuant to this clause (9) that are at that time outstanding, not to exceed $2,500,000 (with the Fair Market Value of each Investment being measured
at the time made and without giving effect to subsequent changes in value); provided, however, that if any Investment pursuant to this clause (9) is made in any Person that is not a Restricted Subsidiary of the Issuer at the date of the
making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this
clause (9) for so long as such Person continues to be a Restricted Subsidiary; 
 (10) loans and advances to officers,
directors, employees, consultants and advisors for business-related travel expenses, moving expenses and other similar expenses, in each case Incurred in the ordinary course of business or consistent with past practice or to fund such person’s
purchase of Equity Interests of the Issuer or any direct or indirect parent of the Issuer, not to exceed $500,000 at any one time outstanding pursuant to this clause (10); 

(11) Investments the payment for which consists of Equity Interests of the Issuer (other than Disqualified Stock) or any direct
or indirect parent of the Issuer, as 

  
 27 

 
applicable; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under clause (3) of the definition of “Cumulative
Credit”; 
 (12) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance
with the provisions of Section 4.07(b) (except transactions described in clauses (ii), (iv), (v) and (viii)(B) of such Section); 

(13) Investments consisting of the licensing of Intellectual Property or collaboration agreements, strategic alliances or
similar arrangements in respect of Intellectual Property, in each case, for the development or commercialization of Intellectual Property in the ordinary course of business that, at the time of such license, collaboration agreement, strategic
alliance or similar arrangement, does not materially and adversely affect the Issuer’s business, condition (financial or otherwise) or prospects or the value of the Notes Collateral, taken as a whole; 

(14) guarantees issued in accordance with Sections 4.03 and 4.10, including any guarantee or other obligation issued or
incurred under any Credit Agreement in connection with any letter of credit issued for the account of the Issuer or any of its Subsidiaries (including with respect to the issuance of, or payments in respect of drawings under, such letters of
credit); 
 (15) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials,
services or equipment or purchases of contract rights or licenses or leases of Intellectual Property, in each case in the ordinary course of business; 

(16) Investments of a Restricted Subsidiary of the Issuer acquired after the Issue Date or of an entity that is merged into,
amalgamated with, or consolidated with, transfers or conveys substantially all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer in a transaction that is not prohibited by Article 5 after the Issue Date to
the extent that such Investments were not made in contemplation of such acquisition, merger, amalgamation, consolidation or transfer and were in existence on the date of such acquisition, merger, amalgamation, consolidation or transfer; 

(17) any Investment in any Restricted Subsidiary of the Issuer or any joint venture in connection with intercompany cash
management arrangements or related activities arising in the ordinary course of business; 
 (18) repurchases of the
Securities and the Guarantees thereof; 
 (19) Investments (other than any Investment pursuant to clause (20) below) in any
Permitted Joint Venture not to exceed $5,000,000 at any one time; and 
 (20) licenses of Intellectual Property to any
Permitted Joint Venture, so long as (i) the related license agreement is on an arms-length basis (as approved by a majority of the Board of Directors of the Issuer), (ii) such license agreement is not with respect to the Intellectual Property
related to MosaiQTM or any other applications existing at the Issue Date, (iii) the rights of the Issuer and its Restricted Subsidiaries under such license 

  
 28 

 
agreement are pledged as Notes Collateral, and (iv) any net cash proceeds received by the Issuer or any Restricted Subsidiary from such license agreement are applied as if they were Net Proceeds
of an Asset Sale; provided, however, that cash payments received as reimbursement for expenditures in connection with work to be undertaken by the Issuer or any Subsidiary under any such license agreement shall not be applied as if they were Net
Proceeds of an Asset Sale. 
 In the event that any Investment (or any portion thereof) meets the criteria of more than one of the
categories of Permitted Investments described in clauses (1) through (20) above, or is entitled to be Incurred or made pursuant to Section 4.04, the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or
reclassify, such Investment (or any portion thereof) in any manner that complies with such categories above or Section 4.04. In addition, at the time of Incurrence or making of any Investment, the Issuer will be entitled to divide and classify such
Investment in more than one of the categories of Permitted Investments described above or described in Section 4.04. 
 “Permitted
Joint Venture” means any arrangement with another Person or Persons structured as an unincorporated joint venture, partnership, association or limited liability company (a) in which the Issuer or any Restricted Subsidiary owns at least 15% of
the outstanding Capital Stock thereof and (b) that engages in a Similar Business but for applications not related primarily to transfusion. 

“Permitted Liens” means, with respect to any Person: 

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

 (2) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s and mechanics’ Liens, in each
case, for sums not yet due or being contested in good faith by appropriate proceedings; 
 (3) Liens for taxes, assessments
or other governmental charges not yet due or payable or subject to penalties for nonpayment or that are being contested in good faith by appropriate proceedings if adequate reserves with respect thereto are maintained on the books of such Person in
accordance with GAAP; 
 (4) Liens in favor of issuers of performance and surety bonds or bid bonds or with respect to other
regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business (including any Liens securing Indebtedness permitted to be Incurred pursuant to Section
4.03(b)(v) and Section 4.03(b)(xi)); 

  
 29 

 (5) survey exceptions, encumbrances, easements or reservations of, or rights of
others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person
or to the ownership of its properties that were not Incurred in connection with Indebtedness and that do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of
such Person; 
 (6) (A) Liens on the ABL Collateral securing Indebtedness permitted to be Incurred pursuant to Section
4.03(b)(i) and First Priority Lien Obligations related thereto, which liens shall be subject to the Intercreditor Agreement, and (B) Liens securing Indebtedness permitted to be Incurred pursuant to Section 4.03(b)(iv) and Section 4.03(b)(xv)
(provided that, in the case of Section 4.03(b)(xv), such Lien applies solely to property or assets acquired or the property or assets of the Person acquired in compliance with Section 4.03(b)(xv)); 

(7) (A) Liens existing on the Issue Date and (B) Liens securing the Securities in an aggregate principal amount not to exceed
the Permitted Notes Amount or the Guarantees thereof, including Liens arising under or relating to the Security Documents; 

(8) Liens on assets, property or shares of stock of a Person at the time such Person is merged into, amalgamated with, or
consolidated with the Issuer or any Restricted Subsidiary of the Issuer or becomes a Subsidiary of the Issuer; provided, however, that such Liens are not created or Incurred in connection with, or in contemplation of, such merger,
amalgamation or consolidation or such other Person becoming such a Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by the Issuer or any Restricted Subsidiary of the Issuer; 

(9) Liens on assets or property at the time the Issuer or a Restricted Subsidiary of the Issuer acquired the assets or
property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any Restricted Subsidiary of the Issuer; provided, however, that such Liens are not created or Incurred in connection with, or
in contemplation of, such acquisition; provided, further, however, that the Liens may not extend to any other property owned by the Issuer or any Restricted Subsidiary of the Issuer; 

(10) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Issuer or another Restricted
Subsidiary of the Issuer permitted to be Incurred in accordance with Section 4.03; 
 (11) Liens securing Hedging Obligations
and Bank Products Obligations not incurred in violation of this Indenture; provided that with respect to Hedging Obligations relating to Indebtedness, such Lien extends only to the property securing such Indebtedness; 

(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in
respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

  
 30 

 (13) leases and subleases of real property that do not materially interfere with
the ordinary conduct of the business of the Issuer or any of its Restricted Subsidiaries; 
 (14) Liens arising from Uniform
Commercial Code financing statement filings regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; 

(15) Liens in favor of the Issuer or any Guarantor; 

(16) deposits made in the ordinary course of business to secure liability to insurance carriers; 

(17) any license, collaboration agreement, strategic alliance or similar arrangement providing for the licensing of
Intellectual Property or the development or commercialization of Intellectual Property in the ordinary course of business that, at the time of such grant, does not materially and adversely affect the Issuer’s business, condition (financial or
otherwise) or prospects or the value of the Notes Collateral taken as a whole; 
 (18) Liens to secure any refinancing,
refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness (“Refinancing Secured Indebtedness”) secured by any Lien referred to in
the foregoing clauses (6)(B) (in the case of Liens to secure any Refinancing Secured Indebtedness under such clause (6)(B), such Liens shall be deemed to have also been incurred under such clause (6)(B), and not this clause (18), for purposes of
determining amounts outstanding under such clause (6)(B)), (7), (8) and (9); provided, however, that (w) such new Lien shall be limited to all or part of the same property and assets that secured or, under the written agreements pursuant to which
the original Lien arose, could secure the original Lien (plus improvements, on and accessions to such property or proceeds or distributions thereof), (x) the Indebtedness secured by such Lien at such time is not increased to any amount greater than
the sum of (A) the outstanding principal amount of the Indebtedness described under clauses (6)(B), (7), (8) and (9) at the time the original Lien became a Permitted Lien under this Indenture, and (B) an amount necessary to pay any fees and
expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement, (y) any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements)
as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clause 7(B) shall, at the election of the Issuer, be secured by and entitled to the benefits of the Security Documents and rank pari passu with the
Indebtedness that is refinanced, refunded, extended, renewed or replaced and (z) any Lien securing the Refinancing Indebtedness shall have a priority relative to the Liens securing the Securities and the Guarantees that is not greater than the
relative priority of the Lien securing in the Indebtedness that is refinanced, refunded, extended, renewed or replaced; 

  
 31 

 (19) Liens on equipment of the Issuer or any Restricted Subsidiary granted in the
ordinary course of business to the Issuer’s or such Restricted Subsidiary’s client at which such equipment is located; 

(20) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights
related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; 

(21) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered
into in the ordinary course of business; 
 (22) Liens incurred to secure cash management services or to implement cash
pooling arrangements in the ordinary course of business that do not, individually or in the aggregate, materially impair the value of the Notes Collateral; 

(23) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint venture or
similar arrangement pursuant to any joint venture or similar agreement; provided, however, that this clause (23) shall not apply to any Liens securing Indebtedness; 

(24) any amounts held by a trustee in the funds and accounts under an indenture securing any revenue bonds issued for the
benefit of the Issuer or any Restricted Subsidiary; 
 (25) Liens arising by virtue of any statutory or common law provisions
relating to banker’s Liens, rights of set-off or similar rights and remedies as to Deposit Accounts (as defined in the Uniform Commercial Code) or other funds maintained with a depository or financial institution; 

(26) Liens that secure Indebtedness Incurred in the ordinary course of business not to exceed $250,000 at any one time
outstanding; 
 (27) any interest of title of a lessor under any lease of real or personal property; 

(28) Liens on the identifiable proceeds of any property or asset subject to a Lien otherwise constituting a Permitted Lien; and

 (29) Liens granted in favor of Scottish Enterprise pursuant to a standard security by Quotient Biocampus Limited in
respect of its interest in the lease Site 3, Bio Campus, Roslin, Midlothian. 
 “Permitted Notes Amount” means (i) prior to the
Additional Securities Triggering Event, $84,000,000, and (ii) at and after the Additional Securities Triggering Event, $120,000,000. 

“Permitted Swiss Liens” means, with respect to Quotient Suisse or any other Swiss Obligor, (i) Permitted Liens other than Liens
Incurred under clauses (6), (18) (insofar as any such Lien secures any Refinancing Secured Indebtedness of any Indebtedness secured by 

  
 32 

 
any Lien referred to in clause (6)(B) of the definition of “Permitted Liens”) or (26) of the definition of “Permitted Liens” and (ii) Liens on the identifiable proceeds
of any property or asset subject to a Lien otherwise constituting a Permitted Swiss Lien. 
 “Person” means any individual,
corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Preference Shares” means the Issuer’s 7% cumulative redeemable preference shares, of no par value. 

“Preferred Stock” means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution or
winding up. 
 “Quotient Suisse” means Quotient Suisse SA, a company formed under the laws of Switzerland. 

“Rating Agency” means (1) Moody’s, (2) S&P and (3) any “nationally recognized statistical rating organization”
within the meaning of Section 3(a)(62) of the Exchange Act selected by the Issuer or any direct or indirect parent of the Issuer as a replacement agency for Moody’s or S&P, as the case may be. 

“Relevant Taxing Jurisdiction” means, with respect to any payment on any Security or any Guarantee made by any Payor or a paying
agent appointed by it, (1) any jurisdiction, or any political subdivision or Governmental Authority thereof or therein having the power to tax, from or through which such Payor or paying agent makes such payment or (2) any jurisdiction in which such
Payor or paying agent is incorporated or organized, engaged in business for tax purposes, or otherwise considered to be a resident for tax purposes, or any political subdivision or Governmental Authority thereof or therein having the power to tax.

 “Representative” means the trustee(s), agent(s) or representative(s) (if any) for an issue of Indebtedness; provided, however,
that if, and for so long as, such Indebtedness lacks such a Representative, then the Representative for such Indebtedness shall at all times constitute the holder or holders of a majority in outstanding principal amount of obligations under such
Indebtedness. 
 “Restricted Cash” means Cash Equivalents held by Restricted Subsidiaries that is contractually restricted from
being distributed to the Issuer, except for such restrictions that are contained in agreements governing Indebtedness permitted under this Indenture and secured by such Cash Equivalents. 

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

“Restricted Subsidiary” means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted Subsidiary of
such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. 

  
 33 

 “S&P” means Standard & Poor’s Ratings Services or any successor to the
rating agency business thereof. 
 “Sale/Leaseback Transaction” means an arrangement relating to property now owned or acquired
after the Issue Date by the Issuer or Restricted Subsidiary whereby the Issuer or such Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases such property from such Person, other than
leases between the Issuer and a Restricted Subsidiary of the Issuer or between Restricted Subsidiaries of the Issuer. 
 “SEC”
means the United States Securities and Exchange Commission. 
 “Secured Bank Indebtedness” means any Bank Indebtedness that is
secured by a Permitted Lien incurred or deemed incurred pursuant to clause (6)(A) of the definition of “Permitted Liens.” 

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

“Securities” means the Original Securities and the Additional Securities. 

“Securities Act” means the United States Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Security Documents” means the security agreements, pledge agreements, mortgages, security interest agreements,
collateral assignments and related agreements, as amended, supplemented, restated, renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified from time to time, creating, perfecting or otherwise evidencing the security
interests granted by the Issuer and any Guarantor in favor of the Collateral Agent in the Notes Collateral as contemplated by this Indenture. 

“Serological Disease Screening” means detecting the presence of pathogens in a blood sample that are associated with particular
diseases or conditions. 
 “Similar Business” means a business, the majority of whose revenues are derived from the activities of
the Issuer and its Subsidiaries as of the Issue Date or any business or activity that is reasonably similar or related thereto or a reasonable extension, development or expansion thereof or ancillary or complementary thereto. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the final
payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of
any contingency beyond the control of the issuer unless such contingency has occurred). 
 “Stratec Development Agreement” means
the Stratec Development Agreement, dated as of January 7, 2014, between Stratec Biomedical AG and QBD (QS IP) Limited and any amendments thereto. 

  
 34 

 “Stratec Supply and Manufacturing Agreement” means the Supply and Manufacturing
Agreement, dated April 1, 2014, between Stratec Biomedical AG and QBD (QS IP) Limited and any amendments thereto. 
 “Subordinated
Indebtedness” means (a) with respect to the Issuer, any Indebtedness of the Issuer that (i) is unsecured, (ii) by its terms is subordinated in right of payment to the Securities or (iii) is secured by Liens on Notes Collateral ranking junior to
the Liens securing the Securities or (b) with respect to any Guarantor, any Indebtedness of such Guarantor that (i) is unsecured, (ii) by its terms is subordinated in right of payment to its Guarantee or (iii) is secured by Liens on Notes Collateral
ranking junior to the Liens securing its Guarantee. For the avoidance of doubt, Subordinated Indebtedness shall be deemed to include any Indebtedness reflecting the payment subordination terms to be set forth in Exhibit F to this Indenture. 

“Subsidiary” means, with respect to any Person, (1) any corporation, association or other business entity (other than a partnership,
joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof
is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2) any partnership, joint venture or limited liability company of
which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of
the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is a controlling general partner
or otherwise controls such entity. For purposes of clarity, a Subsidiary of a Person shall not include any Person that is under common control with the first Person solely by virtue of having directors, managers or trustees in common and shall not
include any Person that is solely under common control with the first Person (i.e., a sister company with a common parent). 
 “Swiss
Obligor” means any obligor on the Securities or a Guarantee formed under the laws of Switzerland. 
 “Swiss Security
Documents” means the share pledge agreement among the Issuer, the Collateral Agent, acting for itself (including as creditor of each parallel debt) and as direct representative (direkter Stellvertreter) in the name and for the account of
all other Secured Parties (as defined in the Collateral Agreement), and the Trustee in respect of the shares of Quotient Suisse, governed by Swiss law, dated October 14, 2016 and the Assignment Agreement among Quotient Suisse, the Issuer, the
Collateral Agent and the Trustee, governed by Swiss law, dated October 14, 2016. 
 “Swiss Taxing Authority” means any Relevant
Taxing Jurisdiction if the jurisdiction specified in the definition thereof is Switzerland or any political subdivision or Governmental Authority thereof or therein having the power to tax. 

  
 35 

 “Swiss Withholding Tax” means taxes imposed under the Swiss Withholding Tax Act. 

“Swiss Withholding Tax Act” means the Swiss Federal Act on the Withholding Tax of 13 October 1965 (Bundesgesetz über
die Verrechnungssteuer), together with the related ordinances, regulations and guidelines, all as amended and applicable from time to time. 

“Taxes” means any present or future tax, fee, duty, levy, tariff, impost, assessment or other governmental charge (including
penalties, interest and other liabilities related thereto). 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. Sections
77aaa-77bbbb) as interpreted and in effect on the Issue Date; provided, however, that in the event the Trust Indenture Act of 1939 is amended or there is a change in the interpretation after the Issue Date, the term “TIA”
shall mean, to the extent required by such amendment, the Trust Indenture Act of 1939, as so amended or interpreted. It is acknowledged that this Indenture will not be qualified under the TIA. 

“Treasury Rate” means, in respect of any redemption date, the yield to maturity as of such redemption date of United States Treasury
securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two Business Days prior to such redemption date (or, if such Federal Reserve
Statistical Release H.15(519) is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such redemption date to the First Call Date; provided, that if the period from such redemption date to
the First Call Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Officer” means: 

(1) any officer within the Corporate Trust Office of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee to whom any corporate trust matter relating to this Indenture is referred because of such Person’s knowledge of and familiarity with the particular
subject; and 
 (2) who shall have direct responsibility for the administration of this Indenture. 

“Trustee” means the party named as such in this Indenture until a successor replaces it in accordance with the applicable provisions
of this Indenture and, thereafter, means such successor. 
 “TTP IP Rights Agreement” means the Intellectual Property Rights
Agreement, dated March 4, 2014, between The Technology Partnership PLC and QBD (QS IP) Limited and any amendments thereto. 
 “Uniform
Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 

  
 36 

 “Unrestricted Subsidiary” means: 

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

The Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed Subsidiary of the Issuer) to be an
Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other Subsidiary of the Issuer that is not a Subsidiary of the
Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries (i) do not at the time of designation have and do not thereafter Incur any Indebtedness that is guaranteed by the Issuer or any of
its Restricted Subsidiaries (or that otherwise has recourse to the property or assets of the Issuer or any of its Restricted Subsidiaries) and (ii) do not at the time of designation and do not thereafter guarantee any other Indebtedness of the
Issuer or any of its Restricted Subsidiaries; provided, further, however, that either: 
 (a) the Subsidiary to be so
designated has total consolidated assets of $1,000 or less; or 
 (b) if such Subsidiary has consolidated assets greater than
$1,000, then such designation would be permitted under Section 4.04 or under one or more clauses of the definition of “Permitted Investments,” as determined by the Issuer. 

The Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided, however, that immediately after
giving effect to such designation: 
 (x) (1) the Issuer could Incur $1.00 of additional Indebtedness pursuant to the
Consolidated Leverage Ratio test set forth in Section 4.03(a) or (2) the Consolidated Leverage Ratio for the Issuer and its Restricted Subsidiaries would be less than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to
such designation, in each case on a pro forma basis taking into account such designation; and 
 (y) no Event of
Default shall have occurred and be continuing. 
 Any such designation by the Issuer shall be evidenced to the Trustee by promptly filing
with the Trustee a copy of the resolution of the Board of Directors of the Issuer or any committee thereof giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions.

 “U.S. Government Obligations” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or

 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America, the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

  
 37 

 which, in each case, are not callable or redeemable at the option of the issuer thereof, and shall also include a
depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations
held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt
from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depository receipt. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the
election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness
or Disqualified Stock, as the case may be, at any date, the quotient obtained by dividing (1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of such
Indebtedness or redemption or similar payment with respect to such Disqualified Stock multiplied by the amount of such payment, by (2) the sum of all such payments. 

“Wholly Owned Restricted Subsidiary” means any Wholly Owned Subsidiary that is a Restricted Subsidiary. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other ownership
interests of which (other than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person. 

SECTION 1.02. Other Definitions. 
  

			
	 Term
	  	 Defined in Section

	“Acceleration”	  	6.02
	“Additional Amounts”	  	4.01(c)
	“Additional Securities”	  	2.01(c)
	“Affiliate Transaction”	  	4.07(a)
	“After-Acquired Property”	  	4.13
	“Asset Sale Offer”	  	4.06(d)
	“Base Currency”	  	12.14(b)(i)(A)
	“Change of Control Offer”	  	4.08(b)
	“Change of Control Payment”	  	4.08(b)(i)
	“Confidential Information”	  	7.11
	“Confidential Parties”	  	7.11

  
 38 

			
	 Term
	  	 Defined in Section

	“Consolidated Leverage Calculation Date”	  	“Consolidated Leverage Ratio” definition
	“Corresponding Debt”	  	11.10
	“covenant defeasance option”	  	8.01(e)
	“Definitive Security”	  	Appendix A
	“Depository”	  	Appendix A
	“Event of Default”	  	6.01
	“Excess Proceeds”	  	4.06(b)
	“Finance Documents”	  	11.10
	“First Call Date”	  	Exhibit A
	“Global Security”	  	Appendix A
	“Guaranteed Obligations”	  	10.01(a)
	“Increased Amount”	  	4.11
	“Judgment Currency”	  	12.14(b)(i)(A)
	“legal defeasance option”	  	8.01(e)
	“Notes Collateral Asset Sale Offer”	  	4.06(c)
	“Notes Collateral Excess Proceeds”	  	4.06(c)
	“Offer Period”	  	4.06(f)
	“Parallel Debt”	  	11.10
	“Paying Agent”	  	2.04(a)
	“Payment Date”	  	Exhibit A
	“Payor”	  	4.01(c)
	“primary obligations”	  	“Contingent Obligations” definition
	“primary obligor”	  	“Contingent Obligations” definition
	“protected purchaser”	  	2.08
	“QIB”	  	Appendix A
	“rate(s) of exchange”	  	12.14(d)
	“Record Date”	  	Exhibit A
	“Reference Period”	  	“Cumulative Credit” definition
	“Refinancing Indebtedness”	  	4.03(b)(xiv)
	“Refinancing Secured Indebtedness”	  	“Permitted Liens” definition
	“Refunding Capital Stock”	  	4.04(b)(ii)
	“Registrar”	  	2.04(a)
	“Restricted Obligations”	  	10.02(b)
	“Restricted Payments”	  	4.04(a)
	“Retired Capital Stock”	  	4.04(b)(ii)
	“Securities”	  	Preamble
	“Securities Custodian”	  	Appendix A
	“Security Document Order”	  	11.09(i)
	“Successor Company”	  	5.01(a)(i)
	“Successor Guarantor”	  	5.02(a)(i)
	“Swiss Available Amount”	  	10.02(b)
	“Swiss Notification Procedure”	  	10.02(b)(i)
	“Swiss Tax Deduction”	  	4.01(d)

  
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 SECTION 1.03. Rules of Construction. Unless the context otherwise requires: 

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

(b) except as otherwise set forth in this Indenture, all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP as defined herein, and an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP as defined herein; 
 (c) “or” is not exclusive; 

(d) “including” means including without limitation, and any item or list of items set forth following the word
“including,’ “include” or “includes” in this Indenture is set forth only for the purpose of indicating that, regardless of whatever other items are in the category in which such item or items are “included,”
such item or items are in such category and shall not be construed as indicating the items in the category in which such item or items are “included” are limited to such item or items similar to such items; 

(e) all references in this Indenture to any designated “Article,” “Section,” “Appendix,”
“Exhibit,” definition and other subdivision are to the designated Article, Section, Appendix, Exhibit, definition and other subdivision, respectively, of this Indenture; 

(f) all references in this Indenture to (i) the words “herein,” “hereof” and “hereunder” and
other words of similar import refer to this Indenture as a whole and not to any particular Article, Section, Appendix, Exhibit and other subdivision, respectively, of this Indenture and (ii) the term “this Indenture” means this Indenture
as a whole, including the Appendix and Exhibits hereto; 
 (g) words in the singular include the plural and words in the
plural include the singular; 
 (h) except as set forth in the definition of “Pari Passu Indebtedness,” unsecured
Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its nature as unsecured Indebtedness; 

(i) the principal amount of any non-interest bearing or other discount security at any date shall be the principal amount
thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP as defined herein; 

(j) the principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock or (ii) the
maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; 
 (k)
“$” and “U.S. Dollars” each refers to United States dollars, or such other money of the United States of America that at the time of payment is legal tender for payment of public and private debts; and 

(l) the words “asset” or “property” shall be construed to have the same meaning and effect and to refer to
any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

  
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 ARTICLE 2 

THE SECURITIES 
 SECTION
2.01. Amount of Securities. 
 (a) Subject to the terms and conditions set forth in this Section 2.01, the aggregate
principal amount of Securities that may be authenticated and delivered under this Indenture is limited to $120,000,000. 

(b) On the Issue Date, the Issuer shall issue and deliver, in accordance with this Article 2, Original Securities in an
aggregate principal amount of $84,000,000. 
 (c) As long as no Event of Default has occurred and is continuing, if the
Additional Securities Triggering Event occurs, then the Issuer shall issue and deliver (subject to receiving agreed-upon consideration therefor), in accordance with this Section 2.01(c), within 10 Business Days of the Additional Securities
Triggering Event, upon five Business Days’ written notice to the Trustee (which five Business Day period may, for the avoidance of doubt, be concurrent with such 10 Business Day period), accompanied by an Officers’ Certificate certifying
as to the occurrence of and date of the Additional Securities Triggering Event (but, in any case, not during the period between the day immediately after the relevant Record Date immediately preceding the next related Payment Date and such Payment
Date, unless the entire such 10 Business Day period following the Additional Securities Triggering Event is within such period, in which case, on the Business Day immediately following such Payment Date) and subject to the substantially concurrent
receipt of payment therefor, additional Securities in an aggregate principal amount of $36,000,000 (“Additional Securities”). Such Additional Securities shall have the same terms as the Original Securities, except that the issuance price,
the issuance date and the initial Payment Date may vary. If the Issuer determines that any such Additional Securities are issued as part of a “qualified reopening” for U.S. federal income tax purposes, such Additional Securities will have
the same CUSIP number as the Original Securities and for U.S. federal income tax purposes will have the same issue date and issue price as the Original Securities. If the Issuer determines that any such Additional Securities are not issued as part
of a “qualified reopening” for U.S. federal income tax purposes, such Additional Securities will be required to have a CUSIP number that is different than the CUSIP number of the Original Securities. 

(d) The Securities, including any Additional Securities, shall be treated as a single class for all purposes under this
Indenture, including directions provided to the Trustee pursuant to Section 6.05, waivers, amendments, redemptions and offers to purchase, and shall rank on a parity basis in right of payment and security. 

SECTION 2.02. Form and Dating. Provisions relating to the Securities are set forth in Appendix A hereto, which is hereby incorporated
in and expressly made a part of this 

  
 41 

 
Indenture. The Securities and the Trustee’s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made a
part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Guarantor is subject, if any, or usage (provided that any such notation, legend or
endorsement is in a form acceptable to the Issuer). Each Security shall be dated the date of its authentication. The Securities shall be issuable only in registered form, without interest coupons, and in minimum denominations of $50,000 and any
integral multiple of $1,000 in excess thereof. 
 SECTION 2.03. Execution and Authentication. The Trustee shall authenticate and make
available for delivery upon a written order of the Issuer signed by one Officer (a) Original Securities for original issue on the Issue Date in an aggregate principal amount of $84,000,000 and (b) subject to the terms and conditions set forth in
Section 2.01(c), Additional Securities for original issue after the Additional Securities Triggering Event in an aggregate principal amount of $36,000,000. Such order shall specify the amount of the Securities to be authenticated, the form in which
the Securities are to be authenticated and the date on which the original issue of Securities is to be authenticated. 
 One Officer shall
sign the Securities for the Issuer by manual or facsimile signature. 
 If an Officer whose signature is on a Security no longer holds that
office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until
an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Securities. Any such
appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee
may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 

SECTION 2.04. Registrar and Paying Agent. 

(a) The Issuer shall maintain (i) an office or agency where Securities may be presented for registration of transfer or for
exchange (the “Registrar”) and (ii) an office or agency where Securities may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Issuer may
have one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrars. The term “Paying Agent” includes the Paying Agent and any additional paying agents. The Issuer initially
appoints the Trustee as Registrar, Paying Agent and the Securities Custodian with respect to the Global Securities and as Registrar and Paying Agent with respect to the Definitive Securities. 

  
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 (b) The Issuer may enter into an appropriate agency agreement with any Registrar
or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee of the name and address of any such agent. If the Issuer fails to maintain a
Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.06. The Issuer or any of its Wholly Owned Restricted Subsidiaries may act as Paying Agent or Registrar. Upon
any Event of Default as described in Section 6.01(e) or Section 6.01(f), the Trustee shall automatically be the Paying Agent. 

(c) The Issuer may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to the
Trustee; provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such successor Registrar or
Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The Registrar or
Paying Agent may resign at any time upon written notice to the Issuer and the Trustee; provided, however, that the Trustee may resign as Paying Agent or Registrar only if the Trustee also resigns as Trustee in accordance with Section 7.07.

 SECTION 2.05. Paying Agent to Hold Money in Trust. On or prior to each due date of the principal of and interest on any Security,
the Issuer shall deposit with each Paying Agent (or if the Issuer or a Wholly Owned Restricted Subsidiary is acting as Paying Agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such principal
and interest when so becoming due. The Issuer shall require each Paying Agent (other than the Trustee) to agree in writing that a Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by a Paying Agent for the
payment of principal of and interest on the Securities, and shall notify the Trustee of any default by the Issuer in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the
Trustee. If the Issuer or a Wholly Owned Restricted Subsidiary of the Issuer acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuer at any time
may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section 2.05, a Paying Agent shall have no further liability for the money delivered to the
Trustee. Upon any bankruptcy or reorganization proceedings relating to the Issuer, the Trustee will automatically serve as the Paying Agent if not otherwise so acting. 

SECTION 2.06. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five Business Days before each Payment Date and at such other times as
the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. The Issuer shall also maintain a copy of such list of the names and addresses of Holders at its
registered office. 

  
 43 

 SECTION 2.07. Transfer and Exchange. The Securities shall be issued in registered form and
shall be transferable only upon the surrender of a Security for registration of transfer and in compliance with Appendix A. When a Security is presented to the Registrar with a request to register a transfer, the Registrar shall register the
transfer as requested if its requirements therefor are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as
requested if the same requirements are met. To permit registration of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Securities at the Registrar’s request. No service charge will be made for any
registration of transfer or exchange of the Securities, but the Issuer may require payment from the Holder of a sum sufficient to pay all taxes (including transfer taxes), assessments or other governmental charges in connection with any transfer or
exchange pursuant to this Section 2.07. Upon any transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents. The Issuer shall not be required to make, and
the Registrar need not register, transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or of any Securities for a period of 15 days prior to a
selection of Securities to be redeemed. 
 Prior to the due presentation for registration of transfer of any Security, the Issuer, the
Guarantors, the Trustee, the Paying Agent and the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest, if any, on
such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Issuer, any Guarantor, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

Any holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Security may be effected only through a book-entry system maintained by (a) the Holder of such Global Security (or its agent) or (b) any holder of a beneficial interest in such Global Security, and that ownership of a
beneficial interest in such Global Security shall be required to be reflected in a book entry. 
 All Securities issued upon any transfer or
exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 

SECTION 2.08. Replacement Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims
that the Security has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall authenticate a replacement Security if the requirements of Section 8-405 of the Uniform Commercial
Code are met, such that the Holder (a) satisfies the Issuer or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such
notification, (b) makes such request to the Issuer or the Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected
purchaser”) and (c) satisfies any other reasonable requirements of the Issuer and the Trustee. If required by the Trustee or the Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment of the Trustee to protect the
Trustee, the Paying 

  
 44 

 
Agent and the Registrar (if the Registrar also serves as the Paying Agent) and of the Issuer to protect the Issuer, each Guarantor, the Paying Agent and the Registrar (if the Trustee is not
serving in the role of Paying Agent or Registrar, as the case may be) from any loss that any of them may suffer if a Security is replaced. The Issuer and the Trustee may charge the Holder for their expenses in replacing a Security (including
attorneys’ fees and disbursements in replacing such Security). In the event any such mutilated, lost, destroyed or wrongfully taken Security has become or is about to become due and payable, the Issuer in its discretion may pay such Security
instead of issuing a new Security in replacement thereof. 
 Every replacement Security is an additional obligation of the Issuer and will
be entitled to all of the benefits of this Indenture equally and proportionately with all other Securities duly issued hereunder. 
 The
provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. 

SECTION 2.09. Outstanding Securities. Securities outstanding at any time are all Securities authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation and those described in this Section 2.09 as not outstanding. Subject to Section 12.04, a Security does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds
the Security. 
 If a Security is replaced pursuant to Section 2.08 (other than a mutilated Security surrendered for replacement), it ceases
to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Security is held by a protected purchaser. A mutilated Security ceases to be outstanding upon surrender of such Security and replacement thereof
pursuant to Section 2.08. 
 If a Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or
maturity date money sufficient to pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from paying such money to
the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.10. Temporary Securities. In the event that Definitive Securities are to be issued under the terms of this Indenture, until
such Definitive Securities are ready for delivery, the Issuer may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the
Issuer considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate Definitive Securities and make them available for delivery in exchange for temporary Securities upon
surrender of such temporary Securities at the office or agency of the Issuer, without charge to the Holder. Until such exchange, temporary Securities shall be entitled to the same rights, benefits and privileges as Definitive Securities under this
Indenture. 

  
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 SECTION 2.11. Cancellation. The Issuer at any time may deliver Securities to the Trustee
for cancellation. The Registrar and each Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for
registration of transfer, exchange, payment or cancellation and shall dispose of canceled Securities in accordance with its customary procedures. Certification of the destruction of all cancelled Securities shall be delivered to the Issuer. The
Issuer may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall not authenticate Securities in place of canceled Securities other than pursuant to the terms of this
Indenture. 
 SECTION 2.12. Defaulted Interest. If the Issuer defaults in a payment of interest on the Securities, the Issuer shall
pay the defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record
date. The Issuer shall fix or cause to be fixed any such special record date and payment date and shall promptly provide or cause to be provided to each affected Holder a written notice that states the special record date, the payment date and the
amount of defaulted interest to be paid. The special record date for the payment of such defaulted interest shall not be more than 15 days and shall not be less than 10 days prior to the proposed payment date and shall not be less than 10 days after
the receipt by the Trustee of the notice of the proposed payment. 
 SECTION 2.13. CUSIP Numbers, ISINs, etc. The Issuer in
issuing the Securities may use CUSIP numbers, ISINs and “Common Code” numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers, ISINs and “Common Code” numbers in notices (including notices of
redemption) as a convenience to Holders; provided, however, 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 that
reliance may be placed only on the other identification numbers printed on the Securities and that any such notice shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in the CUSIP
numbers, ISINs and “Common Code” numbers. 
 SECTION 2.14. Calculation of Principal Amount of Securities. The aggregate
principal amount of the Securities, at any date of determination, shall be the principal amount of the Securities at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the Holders of a
specified percentage of the principal amount of all the Securities, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Securities, the Holders of
which have so consented, waived, approved or taken other action by (b) the aggregate principal amount, as of such date of determination, of the Securities then outstanding, in each case, as determined in accordance with the preceding sentence,
Section 2.09 and Section 12.04. Any such calculation made pursuant to this Section 2.14 shall be made by the Issuer and delivered to the Trustee pursuant to an Officers’ Certificate. The Issuer and the Trustee agree that any action of the
Holders may be evidenced by the DTC applicable procedures or by such other procedures as the Issuer and Trustee may agree. 
 SECTION 2.15.
Statement to Holders. After the end of each calendar year but not later than the latest date permitted by applicable law, the Trustee shall furnish to each Person 

  
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who at any time during such calendar year was a Holder a statement (for example, a Form 1099 or any other means required by applicable law) prepared by the Trustee as may be required pursuant to
the then-applicable regulations under the Code. 
 ARTICLE 3 

REDEMPTION 
 SECTION 3.01.
Redemption. The Securities may be redeemed by the Issuer at its option, in whole, or from time to time in part, on any Business Day specified by the Issuer, subject to the conditions and at the redemption prices set forth in Paragraph 5 of
the form of Security set forth in Exhibit A hereto, which is hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to the redemption date. The Securities may also be redeemed by the Issuer
in whole, subject to the conditions and at the redemption prices set forth in Sections 3.09 and 4.08(k), together with accrued and unpaid interest to the redemption date. 

SECTION 3.02. Applicability of Article. Redemption of Securities at the election of the Issuer or otherwise, as permitted or required
by any provision of this Indenture, shall be made in accordance with such provision and this Article 3. 
 SECTION 3.03. Notices to
Trustee. If the Issuer elects to redeem Securities pursuant to the optional redemption provisions of Paragraph 5 of the Security, it shall notify the Trustee and the Holders in writing of (i) the Section of this Indenture and the Paragraph of
the Security (if any) pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of Securities to be redeemed and (iv) the redemption price. 

The Issuer shall provide written notice to the Trustee provided for in this Section 3.03 at least 30 days but not more than 60 days before a
redemption date if the redemption is pursuant to Paragraph 5 of the Security. Such notice shall be accompanied by an Officers’ Certificate from the Issuer to the effect that such redemption will comply with the conditions herein. If fewer than
all the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Issuer and given to the Trustee, which record date shall be not fewer than 15 days after the date of notice to the Trustee. Any such notice
may be canceled at any time prior to written notice of such redemption being provided to any Holder and shall thereby be void and of no effect. 

SECTION 3.04. Selection of Securities to Be Redeemed. In the case of any partial redemption, and if the Securities are Global
Securities held by the Depository, the Depository will select the Securities to be redeemed in accordance with its operational arrangements. If the Securities are not Global Securities held by the Depository, selection of the Securities for
redemption will be made by the Trustee on a pro rata basis to the extent practicable or such other method the Trustee deems fair and appropriate; provided that no Securities of $1,000 or less shall be redeemed in part. The Trustee shall make
the selection from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than $1,000. Securities and portions of them the Trustee
selects shall be in amounts of $1,000 or any integral multiple of $1,000 in 

  
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excess thereof. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Issuer
promptly of the Securities or portions of Securities to be redeemed. 
 SECTION 3.05. Notice of Optional Redemption. 

(a) Except as otherwise provided in Paragraph 5 of the Security, at least 30 days but not more than 60 days before a redemption
date pursuant to Paragraph 5 of the Security, the Issuer shall provide or cause to be provided a written notice of redemption to each Holder whose Securities are to be redeemed. 

Any such notice shall identify the Securities to be redeemed and shall state: 

(i) the redemption date; 

(ii) the redemption price (or manner of calculation thereof if not then known) and the amount of accrued interest to the
redemption date; 
 (iii) the name and address of the Paying Agent; 

(iv) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price, plus
accrued interest; 
 (v) that all outstanding Securities are to be redeemed or, if fewer than all the outstanding Securities
are to be redeemed, the certificate numbers and principal amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such
partial redemption; 
 (vi) that, unless the Issuer defaults in making such redemption payment or the Paying Agent is
prohibited from making such payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; 

(vii) the CUSIP number, ISIN or “Common Code” number, if any, printed on the Securities being redeemed; 

(viii) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN or “Common Code”
number, if any, listed in such notice or printed on the Securities; and 
 (ix) such other matters as the Issuer deems
desirable or appropriate. 
 Notice of any redemption pursuant to this Section 3.05 or Section 3.09 or 4.08(k) may, at the Issuer’s
direction, be subject to one or more conditions precedent, including the receipt by the Trustee, on or prior to the redemption date, of money sufficient to pay the principal of, and premium, if any, and interest on, the Securities being redeemed.

 (b) At the Issuer’s request, the Trustee shall give the notice of redemption in the Issuer’s name and at the
Issuer’s expense. In such event, the Issuer shall provide the Trustee a notice containing the information required by this Section 3.05 at least five Business Days (unless the Trustee consents to a shorter period) prior to the date such notice
is to be provided to Holders and such notice may not be canceled but may be subject to such conditions precedent as shall be set forth in such notice. 

  
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 SECTION 3.06. Effect of Notice of Redemption. Once written notice of redemption is
provided in accordance with Section 3.05, 3.09 or 4.08(k), Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, subject to the satisfaction or waiver of any conditions
precedent in the notice of redemption. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, plus accrued and unpaid interest, to, but not including, the redemption date; provided,
however, that if the redemption date is after a Record Date and on or prior to the related Payment Date, the accrued and unpaid interest shall be payable to the Holder of the redeemed Securities registered on such Record Date. Failure to give
notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 
 SECTION 3.07.
Deposit of Redemption Price. With respect to any Securities, prior to 10:00 a.m., New York City time, on the redemption date, the Issuer shall deposit with the Paying Agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is the
Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities or portions thereof to be redeemed on that date other than Securities or portions of Securities called
for redemption that have been delivered by the Issuer to the Trustee for cancellation; provided that the Issuer has provided an Officers’ Certificate to the Trustee stating that all conditions precedent (if any) to which such redemption has
been made subject pursuant to Section 3.05(b) have been satisfied. On and after the redemption date, interest shall cease to accrue on Securities or portions thereof called for redemption so long as the Issuer has deposited with the Paying Agent
funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, unless the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture, provided that the Issuer has
provided an Officers’ Certificate to the Trustee stating that all conditions precedent (if any) to which such redemption has been made subject have been satisfied or waived. 

SECTION 3.08. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Issuer shall execute and the
Trustee shall authenticate for the Holder (at the Issuer’s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 

  
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 SECTION 3.09. Redemption for Changes in Withholding Taxes. The Issuer may redeem the
Securities, in whole but not in part, at its discretion, on any Business Day specified by the Issuer, upon providing not less than 30 nor more than 60 days’ prior written notice to the Trustee, at a redemption price equal to 100% of the
aggregate principal amount thereof, together with accrued and unpaid interest thereon, if any, to, but excluding, the redemption date, and all Additional Amounts or Additional Interest (if any) that otherwise would be payable, if, on the next date
on which any amount would be payable in respect of the Securities, the Issuer would be required to pay Additional Amounts or Additional Interest, and the Issuer cannot avoid any such payment obligation by taking reasonable measures available to it,
as a result of: 
 (a) any amendment to, or change in, the laws or any regulations or rulings promulgated thereunder of a
Relevant Taxing Jurisdiction that is officially announced and becomes effective after the Issue Date (or, if the applicable Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction on a date after the Issue Date, such later date); or 

(b) any amendment to, or change in, an official interpretation or application regarding such laws, regulations or rulings,
including by virtue of a holding, judgment or order by a court of competent jurisdiction that is officially announced and becomes effective after the Issue Date (or, if the applicable Relevant Taxing Jurisdiction became a Relevant Taxing
Jurisdiction on a date after the Issue Date, such later date). 
 The Issuer will not give any such notice of redemption earlier than 90
days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts or Additional Interest were a payment in respect of the Securities then due and payable, and, at the time such notice is given, the obligation to
pay Additional Amounts or Additional Interest must remain in effect. 
 Prior to the provision of any written notice of redemption of the
Securities, the Issuer will deliver to the Trustee an Officers’ Certificate stating that the Issuer cannot avoid any obligation to pay Additional Amounts or Additional Interest by taking reasonable measures available to it. 

ARTICLE 4 
 COVENANTS

 SECTION 4.01. Payment of Securities. 

(a) The Issuer shall promptly pay the principal of and interest on the Securities on the dates and in the manner provided in
the Securities and in this Indenture. An installment of principal or interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds as of 12:00 noon New York City time money sufficient to pay all principal
and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture. The Issuer shall pay interest on overdue principal at the
rate specified therefor in the Securities, and the Issuer shall pay interest on overdue installments of interest at the same rate borne by the Securities to the extent lawful. 

  
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 (b) On each Payment Date, commencing April 15, 2019, or on the succeeding
Business Day if any such date is not a Business Day, the Issuer shall pay an installment of principal of the Original Securities (subject to adjustment in accordance with the second following paragraph) in an amount set forth below corresponding to
such Payment Date: 
  

					
	 Payment Date
	  	Amount	 
		
	 April 15, 2019
	  	$	6,720,000	  
	 October 15, 2019
	  	$	6,720,000	  
	 April 15, 2020
	  	$	6,720,000	  
	 October 15, 2020
	  	$	7,560,000	  
	 April 15, 2021
	  	$	8,400,000	  
	 October 15, 2021
	  	$	8,400,000	  
	 April 15, 2022
	  	$	9,240,000	  
	 October 15, 2022
	  	$	9,240,000	  
	 April 15, 2023
	  	$	10,080,000	  
	 October 15, 2023
	  	$	10,920,000	  

 In addition, in the event that any Additional Securities are issued after the Issue Date in accordance with
Section 2.01(c), on each Payment Date subsequent thereto, or on the succeeding Business Day if any such date is not a Business Day, the Issuer shall pay an installment of principal of such Additional Securities (subject to adjustment as described in
the following paragraph) in an amount equal to the amount obtained by multiplying the principal amount of such Additional Securities outstanding immediately prior to such payment by a fraction of which the numerator shall be the amount of the
installment of principal of the Original Securities corresponding to such Payment Date (as it may have been previously reduced in accordance with the following paragraph) and the denominator shall be the aggregate unpaid outstanding principal
balance of the Original Securities immediately prior to such payment. 
 In the event that there shall have been any partial redemption or
purchase of the Securities pursuant to Article 3 or Section 4.06 or 4.08, each principal installment amount set forth above (as it may have been previously reduced in accordance with this paragraph) subsequent to such partial redemption or purchase
shall be reduced by an amount equal to the amount obtained by multiplying such principal installment amount as in effect immediately prior to such partial redemption or purchase by a fraction of which the numerator shall be the aggregate principal
amount of Securities redeemed or purchased pursuant to such partial redemption or purchase and the denominator shall be the aggregate unpaid outstanding principal balance of the Securities immediately prior to such partial redemption or purchase.
Any such reduction shall be made on a pro rata basis, as nearly as practicable, among the Holders of the Securities (subject, however, to the applicable procedures of DTC). 

(c) All payments made by or on behalf of the Issuer or any Guarantor (including any successor entity) (each, a
“Payor”) in respect of the Securities or with respect to any Guarantee, as applicable, will be made free and clear of and without withholding or deduction for, or on account of, any Taxes unless the withholding or deduction of such Taxes
is then required by law. If any deduction or withholding for, or on account of, any Taxes (subject to Section 4.01(d)) imposed or levied by or on behalf of a Relevant Taxing Jurisdiction, will at any time be required by law to be made from any
payments made by or on behalf of the relevant Payor or paying agent with respect to any Security or any Guarantee, as applicable, including payments of principal, redemption price, interest or premium, if any, such Payor will pay (together with such
payments) such additional amounts (the “Additional 

  
 51 

 
Amounts”) as may be necessary in order that the net amounts received by the Holder in respect of such payments, after such withholding or deduction (including any such deduction or
withholding from such Additional Amounts), will not be less than the amounts which would have been received by the Holder in respect of such payments on any such Security or Guarantee, as applicable, in the absence of such withholding or deduction;
provided, however, that no such Additional Amounts will be payable for or on account of: 
 (i) any Taxes that would not
have been so imposed but for the existence of any present or former connection between the relevant Holder or beneficial owner of a Security and a Relevant Taxing Jurisdiction (it being understood that a Relevant Taxing Jurisdiction is to be
determined as though a payment with respect to the Securities were made on the Issue Date) but excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Security or the receipt of any payment or the
exercise or enforcement of rights under such Security, this Indenture, a Guarantee, the Intercreditor Agreement, any additional intercreditor agreement or a Security Document; 

(ii) any Tax that is imposed or withheld by reason of the failure by the Holder or the beneficial owner of such Security to
comply with a reasonable written request of such Payor addressed to the Holder or the beneficial owner, after reasonable notice (at least 30 days before any such withholding or deduction would be payable), to provide certification, information,
documents or other evidence concerning the nationality, residence or identity of the Holder or such beneficial owner or to make any declaration or similar claim or satisfy any other reporting requirement relating to such matters that is required by
a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from, or reduction in the rate of deduction of, all or part of such Tax but only to the extent the Holder or such beneficial
owner is legally entitled to provide such certification or documentation; 
 (iii) any Taxes, to the extent that such Taxes
were imposed or withheld as a result of the presentation of such Security for payment (where Securities are in the form of definitive registered notes and presentation is required) more than 30 days after the relevant payment is first made available
for payment to the Holder (except to the extent that the Holder would have been entitled to Additional Amounts had such Security been presented on the last day of such 30-day period); 

(iv) any Taxes that are payable otherwise than by deduction or withholding from a payment under or with respect to such
Security or any Guarantee; 
 (v) any estate, inheritance, gift, sales, excise, transfer, personal property or similar tax,
assessment or other governmental charge; 

  
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 (vi) any tax imposed by reason of the Holder’s or beneficial owner’s
past or present status (or the past or present status of a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, a trust, a
partnership or a corporation) as a personal holding company, private foundation or other tax exempt organization, passive foreign investment company, controlled foreign corporation with respect to the United States, bank, or as a corporation that
accumulates earnings to avoid U.S. federal income tax; or 
 (vii) any combination of items (i) through (vi) above. 

Notwithstanding anything to the contrary herein, the Issuer and the Guarantors shall be permitted to withhold or deduct any amounts required
by FATCA and none of the Issuer, the Guarantors or any other person shall be required to pay any additional amounts with respect to any FATCA withholding or deduction imposed on or with respect to any Security. 

Each Payor will (i) make any required withholding or deduction and (ii) remit the full amount deducted or withheld to the Relevant Taxing
Jurisdiction in accordance with applicable law. Each Payor will provide certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld to each Relevant Taxing Jurisdiction imposing such Taxes, or if such tax receipts
are not available, certified copies of other reasonable evidence of such payments as soon as reasonably practicable to the Trustee. Such copies shall be made available to the holders upon reasonable request and will be made available at the offices
of the relevant paying agent. 
 If any Payor is obligated to pay Additional Amounts under or with respect to any payment made on any
Security or any Guarantee, at least 30 days prior to the date of such payment, such Payor will deliver to the Trustee an Officers’ Certificate stating the fact that Additional Amounts will be payable and the amount estimated to be so payable
and such other information necessary to enable the paying agent to pay Additional Amounts to holders on the relevant payment date (unless such obligation to pay Additional Amounts arises less than 45 days prior to the relevant payment date, in which
case such Payor may deliver such Officers’ Certificate as promptly as practicable thereafter). The Trustee shall be entitled to rely solely on such Officers’ Certificate as conclusive proof that such payments are necessary. 

Wherever in this Indenture or the Securities there is mentioned, in any context (i) the payment of principal, (ii) interest, or (iii) any
other amount payable on or with respect to any of the Securities or any Guarantee, such reference shall be deemed to include payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in
respect thereof. 
 The foregoing obligations will survive any termination, defeasance or discharge of this Indenture and any transfer by
the holder or beneficial owner of a Security, and will apply mutatis mutandis to any jurisdiction in which any successor to a Payor is organized, engaged in business for tax purposes or otherwise resident for tax purposes, or any jurisdiction
from or through which any payment under, or with respect to such Security (or any Guarantee) is made by or on behalf of such Payor, or any political subdivision or Governmental Authority thereof or therein having the power to tax. 

  
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 (d) When entering into this Indenture, the parties have assumed in good faith that the interest
payments under the Securities and the other Finance Documents are not and will not become subject to any deduction or withholding of Taxes on account of Swiss Withholding Tax (a “Swiss Tax Deduction”). Notwithstanding the foregoing, if a
Swiss Tax Deduction should, at any time, be or become required by law and should it be unlawful for a Swiss Obligor to comply with Section 4.01(c) for any reason (where this would otherwise be required by the terms of this Indenture or any
other Finance Document), then: 
 (i) the applicable interest rate in relation to that interest payment or guarantee payment
shall be the interest rate that would have applied to that interest payment as provided for by this Indenture and the relevant Security divided by an amount equal to (x) 1 minus (y) the rate at which such Swiss Tax Deduction is required to be made
under Swiss domestic tax law or applicable double taxation treaties (where the rate at which such Swiss Tax Deduction is required to be made is for this purpose expressed as a fraction); and 

(ii) such Swiss Obligor shall: 

(A) pay the relevant interest at the adjusted rate in accordance with the provision above; and 

(B) make such Swiss Tax Deduction on the interest so recalculated; and 

All references to a rate of interest under any Finance Document shall be construed accordingly and all related provisions shall apply to the
deduction for Swiss Withholding Tax purposes on the recalculated interest payment. 
 To the extent that interest payable under the
Securities or any other Finance Document becomes or may become subject to Swiss Withholding Tax the relevant Swiss Obligor shall promptly complete any procedural formalities (including submitting forms and documents required by the appropriate Tax
authority) to the extent possible and necessary for such Swiss Obligor to obtain authorization (x) to make interest payments without them being subject to Swiss Withholding Tax or to being subject to Swiss Withholding Tax at a rate reduced
under applicable double taxation treaties, as applicable, and (y) for a Holder of Securities, the Trustee or the Collateral Agent to obtain a full or partial refund of Swiss Withholding Tax under applicable double taxation treaties. 

(e) Notwithstanding Section 4.01(d), such Swiss Obligor will not be required to make any payment of Additional Interest, if

 (i) the relevant Holders are eligible for refund application or such Swiss Obligor is eligible for an exemption
application; 

  
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 (ii) the refund or the exemption to such relevant Holders or such Swiss Obligor
has been confirmed in writing by the Swiss Federal Tax Administration to the satisfaction of the Trustee, acting at the direction of such Holders; and 

(iii) the Trustee, acting at the direction of such Holders has given its prior written consent to such waiver of such Swiss
Obligor’s obligation to pay Additional Interest which shall not be unreasonably withheld. 
 The relevant Holders shall provide
reasonable efforts to cooperate with the applicable Swiss Obligor to secure such refund or exemption. The Trustee undertakes all reasonable efforts to obtain the documents/information required from such Holders after such Swiss Obligor was notified
by the Trustee of such documents/information required. When the relevant Holders have been able to realize treaty benefits, the applicable Swiss Obligor will have a refund claim against such Holders at the amount of the treaty benefit obtained after
the calculation of the payment as computed under Section 4.01(d)(i). Such refund is subject to any right of set-off pursuant to this Indenture or the other Finance Documents and subject to not being in a less favorable net after-tax position than
such Holders would have been in if such Swiss Withholding Tax had not been required in the first instance. 
 SECTION 4.02. Reports and
Other Information. 
 (a) Annual Financials. The Issuer shall deliver to the Trustee, as soon as available, but in
any event within 120 days (or such earlier date on which the Issuer is required to file a Form 10-K under the Exchange Act, if applicable) after the end of each fiscal year of the Issuer, beginning with the fiscal year ending March 31, 2017, a
consolidated balance sheet of the Issuer and its Subsidiaries as of the end of such fiscal year, and the related consolidated statements of income, cash flows and stockholders’ equity for such fiscal year, setting forth in each case in
comparative form the figures for the previous fiscal year, all prepared in accordance with GAAP, with such consolidated financial statements to be audited and accompanied by (i) a report and opinion of the Issuer’s independent certified public
accounting firm of recognized standing in the United States (which report and opinion shall be prepared in accordance with GAAP), stating that such financial statements fairly present, in all material respects, the consolidated financial condition,
results of operations and cash flows of the Issuer as of the dates and for the periods specified in accordance with GAAP, and (ii) (if and only if the Issuer is required to comply with the internal control provisions pursuant to Section 404 of the
Sarbanes-Oxley Act of 2002 requiring an attestation report of such independent certified public accounting firm) an attestation report of such independent certified public accounting firm as to the Issuer’s internal controls pursuant to Section
404 of the Sarbanes-Oxley Act of 2002 attesting that such internal controls meet the requirements of the Sarbanes-Oxley Act of 2002; provided, however, that the Issuer shall be deemed to have made such delivery of such consolidated financial
statements and attestation report if such consolidated financial statements and attestation report shall have been made available for free within the time period specified above on the SEC’s EDGAR system (or any successor system adopted by the
SEC); provided, further, however, that the Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed pursuant to EDGAR (or 

  
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its successor). Such consolidated financial statements shall be certified by a Financial Officer as, to his or her knowledge, fairly presenting, in all material respects, the consolidated
financial condition, results of operations and cash flows of the Issuer and its Subsidiaries as of the dates and for the periods specified in accordance with GAAP consistently applied. 

(b) Quarterly Financials. The Issuer shall deliver to the Trustee, as soon as available, but in any event within 60 days
(or such earlier date on which the Issuer is required to file a Form 10-Q under the Exchange Act, if applicable) after the end of each of the first three fiscal quarters of each fiscal year of the Issuer, beginning with the fiscal quarter ending
September 30, 2016, a consolidated balance sheet of the Issuer and its Subsidiaries as of the end of such fiscal quarter, and the related consolidated statements of income, cash flows and stockholders’ equity for (in respect of the first fiscal
quarter of such fiscal year) such fiscal quarter or (in respect of the second and third fiscal quarters of such fiscal year) for the then-elapsed portion of the Issuer’s fiscal year, setting forth in each case in comparative form the figures
for the comparable period or periods in the previous fiscal year, all prepared in accordance with GAAP; provided, however, that the Issuer shall be deemed to have made such delivery of such consolidated financial statements if such consolidated
financial statements shall have been made available for free within the time period specified above on the SEC’s EDGAR system (or any successor system adopted by the SEC); provided, further, however, that the Trustee shall have no obligation
whatsoever to determine whether or not such information, documents or reports have been filed pursuant to EDGAR (or its successor). Such consolidated financial statements shall be certified by a Financial Officer as, to his or her knowledge, fairly
presenting, in all material respects, the consolidated financial condition, results of operations and cash flows of the Issuer and its Subsidiaries as of the dates and for the periods specified in accordance with GAAP consistently applied, and on a
basis consistent with the audited consolidated financial statements referred to under Section 4.02(a), subject to normal year-end audit adjustments and the absence of footnotes. Notwithstanding the foregoing, if the Issuer or any of its Subsidiaries
have made an acquisition, the financial statements with respect to an acquired entity need not be included in the consolidated quarterly financial statements required to be delivered pursuant to this Section 4.02(b) until the first date upon which
such quarterly financial statements are required to be so delivered that is at least 90 days after the date such acquisition is consummated. 

(c) Compliance with Indenture. The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal
year of the Issuer, commencing with respect to the fiscal year ending March 31, 2017, an Officers’ Certificate certifying that to each such Officer’s actual knowledge there is no Default or Event of Default that has occurred and is
continuing or, if either such Officer does know of any such Default or Event of Default, such Officer shall include in such certificate a description of such Default or Event of Default and its status with particularity. 

(d) Information During Event of Default. The Issuer shall deliver to the Trustee and the Holders, promptly, such
additional information regarding the business or financial affairs of the Issuer or any of its Subsidiaries, or compliance with the terms of this Indenture, as the Trustee, any Holder or any holder of beneficial interests in the Securities may from
time to time reasonably request during the existence of any Event of Default (subject to reasonable requirements of confidentiality, including requirements imposed by law or contract; and provided that the Issuer shall not be obligated to disclose
any information that is reasonably subject to the assertion of attorney-client privilege). 

  
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 (e) Rule 144A Information. So long as the Issuer is not subject to either
Section 13 or 15(d) of the Exchange Act, the Issuer shall deliver to the Holders, any holder of beneficial interests in the Securities and any prospective purchaser of the Securities or a beneficial interest therein designated by a Holder or such
other Person, promptly upon the request of any such Person, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act, so long as the Securities are not freely transferable under the Securities Act. 

(f) Communication of Information. Delivery of information under this Section 4.02 to the Trustee shall be for
informational purposes only, and the Trustee’s receipt thereof shall not constitute constructive notice of any information contained therein or determinable from any information contained therein, including compliance by the Issuer or any of
its Subsidiaries with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates or certificates or statements delivered to the Trustee pursuant to Section 4.02(c)). Neither the Issuer nor
the Guarantors shall be obligated to deliver any confidential reports or other confidential information to any Holder (or any holder of beneficial interests in the Securities) who has not executed a Confidentiality Agreement in accordance with the
terms of this Indenture. The Issuer shall provide the Trustee with a list of such Holders (or holders of beneficial interests in the Securities) and shall update such list after the execution and delivery to the Issuer of a Confidentiality Agreement
by any Person not already party to such a Confidentiality Agreement with the Issuer. 
 SECTION 4.03. Limitation on Incurrence of
Indebtedness and Issuance of Disqualified Stock and Preferred Stock. 
 (a) (i) The Issuer shall not, and shall not
permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii) the Issuer shall not permit any of its Restricted Subsidiaries to
issue any shares of Preferred Stock; provided, however, that the Issuer and any Guarantor may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, in each case if the Consolidated Leverage Ratio
of the Issuer would have been less than or equal to 3.5 to 1.0 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified
Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of the period for which the Consolidated Leverage Ratio calculation is being performed. 

(b) The limitations set forth in Section 4.03(a) shall not apply to: 

(i) the Incurrence by the Issuer or its Restricted Subsidiaries of Indebtedness under a Credit Agreement and the issuance and
creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof) in the aggregate principal amount outstanding at
any one time not to exceed $10,000,000; 

  
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 (ii) the Incurrence by any of the Issuer and the Guarantors of Indebtedness
represented by the Securities in the aggregate principal amount outstanding at any one time not to exceed the Permitted Notes Amount and the Guarantees thereof; 

(iii) Indebtedness and Disqualified Stock existing on the Issue Date (other than Indebtedness described in clauses (i) and
(ii) of this Section 4.03(b)); 
 (iv) Indebtedness (including Capitalized Lease Obligations) Incurred by the Issuer or any
Guarantor, and Disqualified Stock issued by the Issuer or any Guarantor, to finance (whether prior to or contemporaneously with) the acquisition, lease, construction, repair, replacement or improvement of property (real or personal) or equipment
(whether through the direct purchase of assets or the Capital Stock of any Person owning such assets) that (i) is without recourse to any property or assets of the Issuer or any Restricted Subsidiary other than the assets so acquired, leased,
constructed, repaired, replaced or improved and (ii) is in an aggregate principal amount that, when aggregated with the principal amount of all other Indebtedness and Disqualified Stock then outstanding that was Incurred pursuant to this clause
(iv), does not exceed $10,000,000; 
 (v) Indebtedness Incurred by the Issuer or any of its Restricted Subsidiaries (i)
constituting reimbursement obligations with respect to letters of credit and bank guarantees issued in the ordinary course of business, including letters of credit in respect of workers’ compensation claims, health, disability or other benefits
to employees or former employees or their families or property, casualty or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other permits or
licenses from governmental authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims or (ii) in respect of Bank Products Obligations; 

(vi) Indebtedness arising from agreements of the Issuer or a Restricted Subsidiary providing for indemnification, adjustment
of purchase price or similar obligations, in each case, Incurred in connection with any acquisition or disposition of any business, any assets or a Subsidiary of the Issuer in accordance with the terms of this Indenture, other than guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; 

(vii) Indebtedness of the Issuer to a Restricted Subsidiary; provided that any subsequent issuance or transfer of any
Capital Stock or any other event that results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary or any pledge of
such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause (vii); 

  
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 (viii) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer
or a Guarantor; provided that any subsequent issuance or transfer of any Capital Stock or any other event that results in any Guarantor that holds such shares of Preferred Stock of a Restricted Subsidiary ceasing to be a Guarantor or any
other subsequent transfer of any such shares of Preferred Stock (except to the Issuer or a Guarantor) shall be deemed, in each case, to be an issuance of shares of Preferred Stock not permitted by this clause (viii); 

(ix) Indebtedness of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary of the Issuer; provided, that any
subsequent issuance or transfer of any Capital Stock or any other event that results in any such Restricted Subsidiary of the Issuer holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such
Indebtedness (except to the Issuer or another Restricted Subsidiary of the Issuer or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause
(ix); 
 (x) Hedging Obligations of the Issuer or any Restricted Subsidiary entered into in the ordinary course of business
that are not incurred for speculative purposes but: (1) for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (2) for the purpose of fixing or
hedging currency exchange rate risk with respect to any currency exchanges; or (3) for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases or sales; 

(xi) obligations (including reimbursement obligations with respect to letters of credit and bank guarantees) in respect of
performance, bid, appeal, surety and similar bonds and completion guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; 

(xii) Indebtedness or Disqualified Stock of the Issuer or any Guarantor not otherwise permitted under this Indenture in an
aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness and Disqualified Stock then outstanding and Incurred pursuant to this clause (xii), does not
exceed $10,000,000 at any one time outstanding (it being understood that any Indebtedness Incurred pursuant to this clause (xii) shall cease to be deemed Incurred or outstanding for purposes of this clause (xii) but shall be deemed Incurred for
purposes of Section 4.03(a) from and after the first date on which the Issuer, or the Guarantor, as the case may be, could have Incurred such Indebtedness under Section 4.03(a) without reliance upon this clause (xii)); 

  
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 (xiii) any guarantee by the Issuer or a Guarantor of Indebtedness or other
obligations of the Issuer or any other Guarantor so long as the Incurrence of such Indebtedness Incurred by the Issuer or such other Guarantor is permitted under the terms of this Indenture; provided that if such Indebtedness is by its
express terms unsecured and subordinated in right of payment to the Securities or the Guarantee of such other Guarantor, as applicable, any such guarantee of such Guarantor with respect to such Indebtedness shall be unsecured and subordinated in
right of payment to such Guarantor’s Guarantee with respect to the Securities substantially to the same extent as such Indebtedness is subordinated to the Securities or the Guarantee of such other Guarantor, as applicable; 

(xiv) the Incurrence by the Issuer or any Guarantor of Indebtedness or Disqualified Stock of a Guarantor that serves to
refund, refinance or defease any Indebtedness Incurred or Disqualified Stock issued as permitted under Section 4.03(a) and clauses (ii), (iii), (iv), (xii), (xiv), (xv), (xviii), (xx) and (xxiii) of this Section 4.03(b) or any Indebtedness or
Disqualified Stock Incurred to so refund or refinance such Indebtedness or Disqualified Stock, including any additional Indebtedness or Disqualified Stock Incurred to pay premiums (including tender premiums and paid-in-kind interest), fees, expenses
and defeasance costs in connection therewith (subject to the following proviso, “Refinancing Indebtedness”) prior to its respective maturity; provided that such Refinancing Indebtedness: 

 

	 	(1)	has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is Incurred that is not less than the remaining Weighted Average Life to Maturity of the Indebtedness or Disqualified Stock being
refunded, refinanced or defeased; 

  

	 	(2)	has a Stated Maturity that is not earlier than the earlier of (x) the Stated Maturity of the Indebtedness being refunded or refinanced and (y) 91 days following the Stated Maturity of the Securities; 

 

	 	(3)	to the extent such Refinancing Indebtedness refunds, refinances or defeases (a) Indebtedness junior in right of payment to the Securities or a Guarantee, as applicable, such Refinancing Indebtedness is junior in right
of payment to the Securities or a Guarantee to the same extent as such Indebtedness being refunded, refinanced or defeased, as applicable, or (b) Disqualified Stock, such Refinancing Indebtedness is Disqualified Stock; 

 

	 	(4)	is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate issue price) that is equal to or less than the aggregate principal amount (or if issued with original issue discount,
the aggregate accreted value) then outstanding of the Indebtedness being refunded, refinanced or defeased plus premium (including tender premium and paid-in-kind interest), fees, expenses and defeasance costs Incurred in connection with such
refinancing; 

  
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	 	(5)	shall not include Indebtedness of the Issuer or a Guarantor that refunds, refinances or defeases Indebtedness of an Unrestricted Subsidiary; and 

 

	 	(6)	in the case of any Refinancing Indebtedness Incurred to refund, refinance or defease Indebtedness outstanding under clause (iv), (xii), (xviii) or (xx) of this Section 4.03(b), shall be deemed to have been Incurred and
to be outstanding under such clause (iv), (xii), (xviii) or (xx) of this Section 4.03(b), as applicable, and not this clause (xiv) for purposes of determining amounts outstanding under such clause (iv), (xii), (xviii) or (xx) of this Section
4.03(b); 

 (xv) Indebtedness or Disqualified Stock of (x) the Issuer or any Guarantor incurred to finance an
acquisition of any property or assets or (y) Persons that are acquired by the Issuer or any Guarantor or merged, consolidated or amalgamated with or into the Issuer or a Guarantor in accordance with the terms of this Indenture; provided that,
in each case, immediately after giving effect to such acquisition or merger, consolidation or amalgamation either: 
  

	 	(1)	the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Consolidated Leverage Ratio test set forth in Section 4.03(a); or 

 

	 	(2)	the Consolidated Leverage Ratio would be less than immediately prior to such acquisition or merger, consolidation or amalgamation; 

provided, further, that if, with respect to any Indebtedness incurred pursuant to this clause (xv), the Person so acquired does not become,
upon acquisition, a Guarantor, then the Issuer and the Guarantors shall not guarantee such Indebtedness, and such Indebtedness shall have no recourse to any assets or property of the Issuer or the Guarantors; 

(xvi) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument
drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness is extinguished within five Business Days of its Incurrence; 

(xvii) Indebtedness of the Issuer or any Restricted Subsidiary supported by a letter of credit or bank guarantee issued
pursuant to a Credit Agreement, in a principal amount not in excess of the stated amount of such letter of credit, to the extent such letter of credit or bank guarantee issued pursuant to such Credit Agreement is otherwise permitted by this Section
4.03; 
 (xviii) Contribution Indebtedness; 

  
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 (xix) Indebtedness of the Issuer or any Restricted Subsidiary consisting of (x)
the financing of insurance premiums, (y) take-or-pay obligations contained in supply arrangements or (z) deferred compensation or equity-based compensation to current or former officers, directors, consultants, advisors or employees thereof, in each
case, in the ordinary course of business; 
 (xx) Indebtedness of the Issuer or any Guarantor Incurred in connection with an
Investment in, or representing guarantees of Indebtedness of, joint ventures of the Issuer or any Guarantor in an aggregate principal amount, at any one time outstanding, not to exceed $1,000,000 at the time of Incurrence; 

(xxi) Indebtedness of the Issuer or any Guarantor issued to (x) any joint venture (regardless of the form of legal entity)
that is not a Subsidiary or (y) any Unrestricted Subsidiary, in each case arising in the ordinary course of business in connection with the cash management operations (including with respect to intercompany self-insurance arrangements) of the Issuer
or any Guarantor; 
 (xxii) the Incurrence by the Issuer or any Guarantor of Subordinated Indebtedness that is unsecured and
subordinated in right of payment to the Securities or the Guarantees (as the case may be) (excluding any such Indebtedness convertible into or exchangeable for the Capital Stock of the Issuer) with a Stated Maturity and, if applicable, a First
Amortization Date no earlier than 91 days following the Stated Maturity of the Securities; 
 (xxiii) Capitalized Lease
Obligations Incurred by the Issuer or any Guarantor in connection with a Sale/Leaseback Transaction in respect of the approximately 92,000 square foot manufacturing, laboratory and office facility in the process of being constructed at the
Midlothian Biocampus near Edinburgh, Scotland, in an amount not to exceed $40,000,000 at the time of Incurrence; and 

(xxiv) unsecured Indebtedness of the Issuer convertible into or exchangeable for the Capital Stock of the Issuer with a Stated
Maturity and, if applicable, a First Amortization Date no earlier than 91 days following the Stated Maturity of the Securities in an aggregate principal amount not to exceed $75,000,000 at any one time outstanding. 

(c) Notwithstanding Section 4.03(b), Quotient Suisse or any other Swiss Obligor may not Incur any Indebtedness in respect of
borrowed money or evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof) other than (i) Indebtedness represented by its
Guarantee or (ii) unsecured Indebtedness Incurred under clause (vii) of Section 4.03(b) that is subordinated in right of payment to the Guarantee of Quotient Suisse or such other Swiss Obligor, as applicable, provided that the rights of the Issuer
and its Restricted Subsidiaries (other than Quotient Suisse or any other Swiss Obligor) under such Indebtedness are pledged as Notes Collateral. 

  
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 (d) For purposes of determining compliance with this Section 4.03, in the event
that an item of Indebtedness or Disqualified Stock (or any portion thereof) meets the criteria of more than one of the categories of permitted Indebtedness described in clauses (i) through (xxiv) of Section 4.03(b) or is entitled to be Incurred
pursuant to Section 4.03(a), the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness or Disqualified Stock (or any portion thereof) in any manner that complies with this
Section 4.03, provided that any Indebtedness outstanding under the Credit Agreement on the Issue Date shall be allocated to Section 4.03(b)(i). 

(e) Accrual of interest, the accretion of accreted value, the payment of interest in the form of additional Indebtedness with
the same terms, the payment of dividends on Disqualified Stock or Preferred Stock in the form of additional shares of Disqualified Stock or Preferred Stock of the same class, amortization or accretion of original issue discount or liquidation
preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of
this Section 4.03. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness that is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such
amount of Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 4.03. 

(f) For purposes of determining compliance with any U.S. Dollar-denominated restriction on the Incurrence of Indebtedness, the
U.S. Dollar-equivalent principal amount of Indebtedness denominated in a non-U.S. currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the case of term debt, or first
committed or first Incurred (whichever yields the higher U.S. Dollar equivalent), in the case of revolving credit debt. 

(g) Notwithstanding any other provision of this Section 4.03, the maximum amount of Indebtedness that the Issuer or any
Restricted Subsidiary of the Issuer may incur pursuant to this Section 4.03 shall not be deemed to be exceeded solely as a result of fluctuations in exchange rates or currency values following the incurrence of such Indebtedness. 

SECTION 4.04. Limitation on Restricted Payments. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(i) declare or pay any dividend or make any distribution on account of the Issuer’s or any of its Restricted
Subsidiaries’ Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Issuer (other than (A) dividends or distributions by the Issuer payable solely in Equity Interests (other than
Disqualified Stock) of the Issuer or (B) dividends or distributions by a Restricted Subsidiary, provided that, in the case of any dividend or distribution payable on or in respect of any class or series

  
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of securities issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or
distribution in accordance with its Equity Interests in such class or series of securities); 
 (ii) purchase or otherwise
acquire or retire for value any Equity Interests (other than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer; 

(iii) purchase or otherwise acquire or retire for value any Disqualified Stock of the Issuer or any direct or indirect parent
of the Issuer; 
 (iv) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for
value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Issuer or any of its Restricted Subsidiaries (other than the payment, redemption, repurchase, defeasance, acquisition or retirement of
(A) Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or
retirement, unless such sinking fund obligation, principal installment or final maturity occurs within one year of the Stated Maturity of the Securities, and (B) Indebtedness permitted under clause (vii) of Section 4.03(b)); or 

(v) make any Restricted Investment 

(all such payments and other actions set forth in clauses (i) through (v) above being collectively referred to as “Restricted Payments”), unless, at
the time of such Restricted Payment: 
 (1) no Default shall have occurred and be continuing or would occur as a consequence
thereof; 
 (2) immediately after giving effect to such transaction on a pro forma basis, the Issuer could Incur $1.00
of additional Indebtedness under Section 4.03(a); and 
 (3) such Restricted Payment, together with the aggregate amount of
all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after January 1, 2017 (including Restricted Payments permitted by clauses (i), (iv), (v) (to the extent such dividends did not reduce Consolidated Net Income), (vi) and
(xiv) of Section 4.04(b), but excluding all other Restricted Payments permitted by Section 4.04(b)), is less than the amount equal to the Cumulative Credit (with the amount of any Restricted Payment made under this Section 4.04 in any property other
than cash being equal to the Fair Market Value (as determined in good faith by the Issuer) of such property at the time made). 

  
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 (b) The provisions of Section 4.04(a) shall not prohibit: 

(i) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Indenture; 
 (ii) (A) the redemption, repurchase,
retirement or other acquisition of any Equity Interests (“Retired Capital Stock”) of the Issuer or any direct or indirect parent of the Issuer or Subordinated Indebtedness of the Issuer, any direct or indirect parent of the Issuer or any
Guarantor in exchange for, or out of the proceeds of, the substantially concurrent sale of, Equity Interests of the Issuer or any direct or indirect parent of the Issuer or contributions to the equity capital of the Issuer (other than any
Disqualified Stock or any Equity Interests sold to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) (collectively, including any such contributions, “Refunding
Capital Stock”); and (B) the declaration and payment of accrued dividends on the Retired Capital Stock out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or
any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock; 
 (iii) the redemption,
repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness of the Issuer or any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the Issuer or a Guarantor
that is Incurred in accordance with Section 4.03 so long as: 
 (A) the principal amount (or accreted value, if applicable)
of such new Indebtedness does not exceed the principal amount (or accreted value, if applicable), plus any accrued and unpaid interest, of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired for value (plus the amount
of any premium required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired, plus paid-in-kind interest, any tender premiums or any defeasance costs, fees and
expenses incurred in connection therewith); 
 (B) such Indebtedness is subordinated to the Securities or the related
Guarantee, as the case may be, in right of payment as to Lien priority with respect to the Notes Collateral, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired
for value; 
 (C) such Indebtedness has a Stated Maturity and, if applicable, a First Amortization Date equal to or later
than the earlier of (x) the Stated Maturity of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired and (y) 91 days following the Stated Maturity of any Securities then outstanding; or 

(D) such Indebtedness has a Weighted Average Life to Maturity at the time Incurred that is not less than the remaining
Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired; 

  
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 (iv) the repurchase, retirement or other acquisition (or dividends to any direct
or indirect parent of the Issuer to finance any such repurchase, retirement or other acquisition) for value of Equity Interests of the Issuer or any direct or indirect parent of the Issuer held by any future, present or former employee, officer,
director, consultant or advisor of the Issuer or any direct or indirect parent of the Issuer or any Subsidiary of the Issuer pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other
agreement or arrangement; provided that the aggregate amounts paid under this clause (iv) do not exceed $500,000 in any calendar year (with unused amounts in any calendar year being permitted to be carried over for the two succeeding calendar
years subject to a maximum payment (without giving effect to the following proviso) of $1,000,000 in any calendar year); provided, further, that such amount in any calendar year may be increased by an amount not to exceed: 

(A) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries from the sale of Equity Interests (other
than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to employees, officers, directors, consultants or advisors of the Issuer and its Restricted Subsidiaries or any direct or
indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend shall not increase the amount available for Restricted
Payments under clause (3) of Section 4.04(a)); plus 
 (B) the cash proceeds of key man life insurance policies received by
the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) or the Issuer’s Restricted Subsidiaries after the Issue Date; 

provided that the Issuer may elect to apply all or any portion of the aggregate increase contemplated by clauses (A) and (B) above in
any one or more calendar years; and provided, further, that cancellation of Indebtedness owing to the Issuer or any Restricted Subsidiary from any present or former employees, directors, officers, consultants or advisors of the Issuer or any
Restricted Subsidiary or the direct or indirect parent of the Issuer will not be deemed to constitute a Restricted Payment for purposes of this Section 4.04 or any other provision of this Indenture; 

(v) the declaration and payment of dividends or distributions to holders of any class or series of Disqualified Stock of the
Issuer or any of its Restricted Subsidiaries issued or incurred in accordance with Section 4.03; 

  
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 (vi) the declaration and payment of dividends or distributions (a) to holders of
any class or series of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date and (b) to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends to holders of
any class or series of Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the Issuer issued after the Issue Date; provided, however, that, (A) immediately after giving effect to such declaration
(and the payment of dividends or distributions) on a pro forma basis, the Issuer would be able to Incur at least $1.00 of additional Indebtedness pursuant to Section 4.03(a) and (B) the aggregate amount of dividends declared and paid pursuant
to this clause (vi) does not exceed the net cash proceeds actually received by the Issuer from any such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; 

(vii) Investments in Unrestricted Subsidiaries having an aggregate Fair Market Value (as determined in good faith by the
Issuer), taken together with all other Investments made pursuant to this clause (vii) that are at that time outstanding, not to exceed $500,000 (with the Fair Market Value of each Investment being measured at the time made and without giving effect
to subsequent changes in value); 
 (viii) payments or distributions to dissenting stockholders or equityholders pursuant to
applicable law, pursuant to or in connection with a consolidation, amalgamation, merger or transfer of all or substantially all of the assets of the Issuer and the Restricted Subsidiaries, taken as a whole, that complies with Article 5, provided
that as a result of such consolidation, amalgamation, merger or transfer of assets, the Issuer shall have made a Change of Control Offer (if required by this Indenture) and that all Securities tendered and not withdrawn by Holders in connection with
such Change of Control Offer have been repurchased, redeemed or acquired for value; 
 (ix) other Restricted Payments that
are made with Excluded Contributions; 
 (x) other Restricted Payments in an aggregate amount not to exceed $1,000,000; 

(xi) repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests
represent a portion of the exercise price of such options or warrants; 
 (xii) Restricted Payments by the Issuer or any
Restricted Subsidiary to allow the payment of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; 

  
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 (xiii) the repurchase, redemption or other acquisition or retirement for value
of any Subordinated Indebtedness pursuant to the provisions similar to those described under Sections 4.06 and 4.08; provided that all Securities tendered and not withdrawn by Holders in connection with a Change of Control Offer, Notes
Collateral Asset Sale Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired for value; 

(xiv) redemptions of the Preference Shares pursuant to the mandatory redemption provisions thereof and the declaration and
payment of accrued dividends on the Preference Shares in connection therewith; and 
 (xv) the redemption, repurchase,
retirement or other acquisition of Disqualified Stock of the Issuer or any direct or indirect parent of the Issuer with the net cash proceeds from a substantially concurrent issuance of Disqualified Stock that is issued in accordance with Section
4.03; 
 provided, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (vi), (vii), (x), (xi), (xiv) and
(xv) of this Section 4.04(b), no Default shall have occurred and be continuing or would occur as a consequence thereof. 

(c) For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the
Issuer and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of “Investments.”
Such designation shall only be permitted if a Restricted Payment or Permitted Investment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of “Unrestricted Subsidiary.” 

(d) For purposes of determining compliance with this Section 4.04, in the event that a Restricted Payment (or any portion
thereof) meets the criteria of more than one of the categories described in Section 4.04(b) or is entitled to be made pursuant to Section 4.04(a), the Issuer may, in its sole discretion, classify or reclassify, or later divide, classify or
reclassify, such Restricted Payment (or any portion thereof) in any manner that complies with this Section 4.04. 
 (e)
Notwithstanding the foregoing, the Issuer and its Restricted Subsidiaries shall not, directly or indirectly (and shall cause their Subsidiaries not to, directly or indirectly), use Permitted Investments pursuant to clause (9) or (19) of the
definition of “Permitted Investments” to make Restricted Payments of the type described in clause (i), (ii) or (iii) of Section 4.04(b). 

SECTION 4.05. Dividend and Other Payment Restrictions Affecting Subsidiaries. The Issuer shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 

(a) (i) pay dividends or make any other distributions to the Issuer or any of its Restricted Subsidiaries (1) on its Capital
Stock or (2) with respect to any other interest or participation in, or measured by, its profits or (ii) pay any Indebtedness owed to the Issuer or any of its Restricted Subsidiaries; 

  
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 (b) make loans or advances to the Issuer or any of its Restricted Subsidiaries;
or 
 (c) sell, lease or transfer any of its properties or assets to the Issuer or any of its Restricted Subsidiaries, 

except in each case for such encumbrances or restrictions existing under or by reason of: 

(1) contractual encumbrances or restrictions in effect on the Issue Date; 

(2) this Indenture, the Guarantees, the Securities, the Security Documents or the Intercreditor Agreements; 

(3) applicable law or any applicable rule, regulation or order; 

(4) any agreement or other instrument relating to Indebtedness or Capital Stock of a Person acquired by the Issuer or any
Restricted Subsidiary that was in existence at the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or guarantees utilized to consummate such acquisition), which encumbrance or
restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; 

(5) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary imposed
pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; 

(6) documents relating to Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections 4.03 and 4.11, which
restrictions are restrictions on the transfer of assets securing such Secured Indebtedness; 
 (7) restrictions on cash or
other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 
 (8)
customary provisions in joint venture agreements, collaboration agreements, intellectual property licenses and other similar agreements entered into in the ordinary course of business; 

(9) purchase money obligations for property acquired, Capitalized Lease Obligations and Bank Products Obligations in the
ordinary course of business; 
 (10) customary provisions contained in leases, licenses and other similar agreements entered
into in the ordinary course of business; 

  
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 (11) other Indebtedness, Disqualified Stock or Preferred Stock of the Issuer or
any Restricted Subsidiary of the Issuer so long as such encumbrances and restrictions contained in any agreement or instrument will not materially affect the Issuer’s ability to make anticipated principal or interest payments on the Securities
(as determined in good faith by the Issuer), provided that such Indebtedness, Disqualified Stock or Preferred Stock is permitted to be Incurred subsequent to the Issue Date under Section 4.03; 

(12) any Permitted Investment (to the extent such encumbrance or restriction was not made in contemplation of such Permitted
Investment and were in existence on the date of such Permitted Investment); or 
 (13) any encumbrances or restrictions of
the type referred to in clauses (a), (b) and (c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in
clauses (1) through (12) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, no more restrictive with
respect to such dividend and other payment restrictions than those contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

For purposes of determining compliance with this Section 4.05, (i) the priority of any Preferred Stock in receiving dividends or liquidating
distributions prior to dividends or liquidating distributions being paid on other Capital Stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made to the
Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

SECTION 4.06. Asset Sales and MosaiQTM Excess License Proceeds. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an Asset Sale, unless (x)
the Issuer or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the assets sold or otherwise disposed
of, and (y) at least 75% of the consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount of: 

(i) any liabilities (as shown on the Issuer’s or such Restricted Subsidiary’s most recent balance sheet or in the
notes thereto) of the Issuer or any Restricted Subsidiary of the Issuer (other than liabilities (1) that are by their terms subordinated in right of payment to the Securities or any Guarantee, (2) that are unsecured, (3) that are secured by a Lien
on any Notes Collateral ranking junior to the Liens on such Notes Collateral securing the Securities or any Guarantee or (4) that are owed to the Issuer, a Subsidiary or any Affiliate of the foregoing) that are assumed by the transferee of any such
assets or that are otherwise cancelled or terminated in connection with the transaction with such transferee, 

  
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 (ii) any notes or other obligations or other securities or assets received by
the Issuer or such Restricted Subsidiary of the Issuer from such transferee that are converted by the Issuer or such Restricted Subsidiary of the Issuer into Cash Equivalents within 180 days of the receipt thereof (to the extent of the Cash
Equivalents received), and 
 (iii) any Designated Non-cash Consideration received by the Issuer or any of its Restricted
Subsidiaries in such Asset Sale having an aggregate Fair Market Value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii) that is at that time
outstanding, not to exceed $1,000,000 (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value) 

shall be deemed to be Cash Equivalents for the purposes of this Section 4.06(a). 

(b) Within 365 days after the Issuer’s or any Restricted Subsidiary of the Issuer’s receipt of the Net Proceeds of
any Asset Sale, the Issuer or such Restricted Subsidiary of the Issuer may apply the Net Proceeds from such Asset Sale, at its option: 

(i) (A) if the subject assets constitute ABL Collateral that secures First Priority Lien Obligations, to permanently repay
Indebtedness constituting First Priority Lien Obligations, including Secured Bank Indebtedness (and, if the Indebtedness repaid is revolving Indebtedness, to correspondingly permanently reduce commitments with respect thereto) or (B) if the subject
assets constitute ABL Collateral that secures First Priority Lien Obligations or if the subject assets constitute Excluded Assets, to repay Pari Passu Indebtedness (provided that if the Issuer or any Guarantor shall so reduce Obligations
under Pari Passu Indebtedness, the Issuer shall equally and ratably reduce Obligations under the Securities as provided under the optional redemption provisions of Paragraph 5 of the Security, through open-market purchases (provided that such
purchases are at or above 100% of the principal amount thereof) or by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase at a purchase price equal to 100% of the principal amount
thereof, plus accrued and unpaid interest, the pro rata principal amount of Securities, in each case other than Indebtedness owed to the Issuer or an Affiliate of the Issuer); or 

(ii) except with respect to the Net Proceeds of an MosaiQTM Intellectual Property Sale (which Net Proceeds, for the
avoidance of doubt, will be applied pursuant to Section 4.06(c) without regard to such 365-day period), to (A) make an Investment in any one or more businesses (provided that if such Investment is in the form of the acquisition of Capital
Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer 

  
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or, if such Person is a Restricted Subsidiary of the Issuer, in an increase in the percentage ownership of such Person by the Issuer or any Restricted Subsidiary of the Issuer), non-current
assets, or non-current property, in each case (x) used or useful in a Similar Business or (y) that replace the properties and assets that are the subject of such Asset Sale or (B) make capital expenditures; provided that any such Investment, assets,
property or capital expenditures, to the extent acquired with Net Proceeds of an Asset Sale of Notes Collateral, shall be pledged as Notes Collateral (including any assets held by a Person acquired using Net Proceeds, which shall not be ABL
Collateral even if such assets or property are of a type that would otherwise be ABL Collateral). 
 In the case of clause (ii) above, a
binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment, so long as the Net Proceeds are applied within 450 days after the receipt thereof. Pending the final application of any such Net
Proceeds, the Issuer or such Restricted Subsidiary of the Issuer may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Proceeds in any manner not prohibited by this Indenture, provided that the
Net Proceeds of an Asset Sale of Notes Collateral shall be held in an account that is pledged as Notes Collateral. 
 (c) Any
(i) Net Proceeds from any Asset Sale of Notes Collateral (other than ABL Collateral to the extent it secures First Priority Lien Obligations) that are not applied as provided and within the time period set forth in Section 4.06(a) or 4.06(b)
(including the Net Proceeds of a MosaiQTM Intellectual Property Sale) (it being understood that any portion of such Net Proceeds used to make an offer to purchase Securities, as described in Section 4.06(b)(i), shall be deemed to have been
invested whether or not such offer is accepted) and (ii) MosaiQTM Excess License Proceeds shall be deemed to constitute “Notes Collateral Excess Proceeds.” When the aggregate amount of Notes Collateral Excess Proceeds exceeds
$5,000,000, the Issuer shall make an offer to all Holders of Securities (and, at the option of the Issuer, to holders of any Pari Passu Indebtedness (other than Secured Bank Indebtedness)) (a “Notes Collateral Asset Sale Offer”) to
purchase the maximum principal amount of Securities (and such Pari Passu Indebtedness) that is at least $50,000 and an integral multiple of $1,000 that may be purchased out of the Notes Collateral Excess Proceeds at an offer price in cash in an
amount equal to 100% of the principal balance thereof (or, in the event such Pari Passu Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest (or, in respect of such
Pari Passu Indebtedness, such lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Section 4.06. The Issuer
shall commence a Notes Collateral Asset Sale Offer with respect to Notes Collateral Excess Proceeds within 10 Business Days after the existence of Notes Collateral Excess Proceeds by providing the written notice required pursuant to Section 4.06(h),
with a copy to the Trustee. To the extent that the aggregate amount of Securities (and such Pari Passu Indebtedness) tendered pursuant to a Notes Collateral Asset Sale Offer is less than the Notes Collateral Excess Proceeds, the Issuer may use any
remaining Notes Collateral Excess Proceeds for any purpose that is not prohibited by this Indenture. If the aggregate principal amount of Securities (and such Pari Passu Indebtedness) surrendered by Holders thereof exceeds the amount of Notes
Collateral Excess Proceeds, the Trustee shall select the Securities to be purchased in the manner described in Section 4.06(g). Upon completion of any such Notes Collateral Asset Sale Offer, the amount of Notes Collateral Excess Proceeds shall be
reset at zero. 

  
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 (d) Any Net Proceeds from any Asset Sale of Excluded Assets or ABL Collateral
that secures First Priority Lien Obligations that are not applied as provided and within the time period set forth in Section 4.06(a) or 4.06(b) (it being understood that any portion of such Net Proceeds used to make an offer to purchase Securities,
as described in Section 4.06(b)(i), shall be deemed to have been invested whether or not such offer is accepted) will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $5,000,000, the Issuer
shall make an offer to all Holders of Securities (and, at the option of the Issuer, to holders of any Pari Passu Indebtedness) (an “Asset Sale Offer”) to purchase the maximum principal amount of Securities (and such Pari Passu
Indebtedness) that is at least $1,000 and an integral multiple of $50,000 that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal balance thereof (or, in the event such Pari Passu
Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest (or, in respect of such Pari Passu Indebtedness, such lesser price, if any, as may be provided for by the terms
of such Pari Passu Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Section 4.06. The Issuer will commence an Asset Sale Offer with respect to Excess Proceeds within 10 Business Days
after the date that Excess Proceeds exceed $5,000,000 by providing the written notice required pursuant to Section 4.06(h), with a copy to the Trustee. To the extent that the aggregate amount of Securities (and such Pari Passu Indebtedness) tendered
pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for any purpose that is not prohibited by this Indenture. If the aggregate principal amount of Securities (and such Pari Passu
Indebtedness) surrendered by Holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Securities to be purchased in the manner described in Section 4.06(g). Upon completion of any such Asset Sale Offer, the amount of
Excess Proceeds shall be reset at zero. 
 (e) The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange
Act and any other securities laws and regulations to the extent such laws or regulations are applicable in connection with the repurchase of the Securities pursuant to a Notes Collateral Asset Sale Offer or an Asset Sale Offer. To the extent that
the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in
this Indenture by virtue thereof. 
 (f) Not later than the date upon which written notice of a Notes Collateral Asset Sale
Offer or an Asset Sale Offer, as the case may be, is delivered to the Trustee as provided above, the Issuer shall deliver to the Trustee an Officers’ Certificate as to (i) the amount of the Notes Collateral Excess Proceeds or the Excess
Proceeds, as the case may be, (ii) the application of the Net Proceeds from the Asset Sales pursuant to which such Notes Collateral Asset Sale Offer or Asset Sale Offer, as the case may be, is being made and (iii) the compliance of such application
with the provisions of Section 4.06(b). On the specified date of purchase, the Issuer shall also irrevocably deposit with the Trustee or with a Paying Agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is acting as the Paying Agent,
segregate 

  
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and hold in trust) an amount equal to the Notes Collateral Excess Proceeds or the Excess Proceeds, as the case may be, to be invested in Cash Equivalents, as directed in writing by the Issuer,
and to be held for payment in accordance with the provisions of this Section 4.06. Upon the expiration of the period for which the Notes Collateral Asset Sale Offer or Asset Sale Offer, as the case may be, remains open (the “Offer
Period”), the Issuer shall deliver to the Trustee for cancellation the Securities or portions thereof that have been properly tendered to and are to be accepted by the Issuer, along with a written payment and cancellation order. The Trustee (or
the Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the purchase price as determined by the Issuer and stated in the written payment and cancellation order. In the
event that the Notes Collateral Excess Proceeds or Excess Proceeds, as the case may be, delivered by the Issuer to the Trustee are greater than the purchase price of the Securities tendered, the Trustee shall deliver the excess to the Issuer
immediately after the expiration of the Offer Period for application in accordance with Section 4.06. 
 (g) Holders electing
to have a Security purchased shall be required to surrender the Security, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be
entitled to withdraw their election if the Issuer receives not later than one Business Day prior to the purchase date a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security that
was delivered by the Holder for purchase and a statement that such Holder is withdrawing such Holder’s election to have such Security purchased. If at the end of the Offer Period more Securities (and such Pari Passu Indebtedness, as applicable)
are tendered pursuant to a Notes Collateral Asset Sale Offer or an Asset Sale Offer, as the case may be, than the Issuer is required to purchase, and if the Securities are Global Securities held by the Depository, the Depository will select the
Securities to be redeemed in accordance with its operational arrangements. If the Securities are not Global Securities held by the Depository, selection of such Securities for purchase shall be made by the Trustee on a pro rata basis, by lot or by
such other method as the Trustee shall deem fair and appropriate (and in such manner as complies with applicable legal requirements); provided that no Securities of $1,000 or less shall be purchased in part. Selection of such Pari Passu
Indebtedness, as applicable, shall be made by the representative for such Pari Passu Indebtedness pursuant to the terms of such Pari Passu Indebtedness; provided that any purchase by the Issuer of Pari Passu Indebtedness and Securities tendered
pursuant to a Notes Collateral Asset Sale Offer or an Asset Sale Offer shall otherwise be made on a pro rata basis, as nearly as practicable. 

(h) Written notices of a Notes Collateral Asset Sale Offer or an Asset Sale Offer shall be provided by the Issuer at least 30
but not more than 60 days before the purchase date to each Holder of Securities at such Holder’s registered address with a copy to the Trustee (or electronically pursuant to DTC’s applicable procedures). If any Security is to be purchased
in part only, any notice of purchase that relates to such Security shall state the portion of the principal amount thereof that has been or is to be purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal
in principal amount to the unpurchased portion of the Securities surrendered. If the Securities are Global Securities held by the Depository, then the applicable operational procedures of the Depository for tendering and withdrawing securities will
apply. 

  
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 SECTION 4.07. Transactions with Affiliates. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, make any payment
to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions, contract, agreement, understanding, loan,
advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an “Affiliate Transaction”) involving aggregate consideration in excess of $500,000, unless: 

(i) such Affiliate Transaction is on terms that are not materially less favorable to the Issuer or the relevant Restricted
Subsidiary (as determined in good faith by the Issuer) than those that could have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person; and 

(ii) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration
in excess of $2,500,000, the Issuer delivers to the Trustee a resolution adopted in good faith by the majority of the members of the Board of Directors of the Issuer, approving such Affiliate Transaction and certifying that such Affiliate
Transaction complies with clause (i) above, as evidenced by an Officers’ Certificate. 
 (b) The provisions of Section
4.07(a) shall not apply to the following: 
 (i) any transaction or series of transactions between or among any of the
Issuer and its Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary as a result of such transaction), including any payment to, or sale, lease, transfer or other disposition of any properties or assets to, or purchase of any
property or assets from, or any contract, agreement, amendment, understanding, loan, advance or guarantee with, or for the benefit of, any of the Issuer and its Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary as a result
of such transaction); 
 (ii) Restricted Payments permitted by Section 4.04 and Permitted Investments (without giving effect
to clause (12) of the definition thereof); 
 (iii) the payment of reasonable and customary compensation, benefits, fees and
reimbursement of expenses paid to, and indemnity, contribution and insurance provided on behalf of, current or former officers, directors, employees, consultants or advisors of the Issuer or any Restricted Subsidiary; 

(iv) transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee a
letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or meets the requirements of Section 4.07(a)(i); 

  
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 (v) payments or loans (or cancellation of loans) to current or former officers,
directors, employees, consultants or advisors of the Issuer or any of the Restricted Subsidiaries of the Issuer and employment agreements, stock option plans and other similar arrangements with such officers, directors, employees, consultants or
advisors that, in each case, are approved by a majority of the disinterested members of the Board of Directors of the Issuer in good faith; 

(vi) any agreement as in effect as of the Issue Date or any amendment, modification or replacement thereto or thereof (so long
as any such agreement together with all amendments, modifications or replacements thereto or thereof, taken as a whole, is not more disadvantageous to the holders of the Securities in any material respect than the original agreement as in effect on
the Issue Date, as determined in good faith by the Issuer) or any transaction specifically contemplated thereby; 
 (vii)
the existence of, or the performance by the Issuer or any of its Restricted Subsidiaries of its obligations under the terms of, any stockholders or equityholders agreement (including any registration rights agreement or purchase agreement related
thereto) to which it is a party as of the Issue Date and any amendment, modification or replacement thereto or thereof or similar transactions, agreements or arrangements that it may enter into thereafter; provided that the existence of, or the
performance by the Issuer or any of its Restricted Subsidiaries of its obligations under, any future amendment, modification or replacement to or of any such existing transaction, agreement or arrangement or under any similar transaction, agreement
or arrangement entered into after the Issue Date shall only be permitted by this clause (vii) to the extent that the terms of any such existing transaction, agreement or arrangement together with all amendments, modifications or replacements thereto
or thereof, taken as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the holders of the Securities in any material respect than the original transaction, agreement or arrangement as in effect on the
Issue Date as determined in good faith by the Issuer; 
 (viii) (A) transactions with customers, clients, suppliers or
purchasers or sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture, which are fair
to the Issuer and its Restricted Subsidiaries (as applicable) in the reasonable determination of the Issuer, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party or (B) transactions
with joint ventures or Unrestricted Subsidiaries entered into in the ordinary course of business that are not otherwise prohibited by the terms of this Indenture; 

(ix) the issuance of, or transactions with respect to which the sole consideration from the Issuer or any Restricted
Subsidiary consists of, Equity Interests (other than Disqualified Stock) of the Issuer to any Person; 

  
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 (x) the issuances of securities or other payments, awards or grants in cash,
securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee or director benefit plans approved by the Board of Directors of the Issuer or any direct or indirect parent
of the Issuer or of a Restricted Subsidiary of the Issuer, as appropriate, in good faith; 
 (xi) any contribution to the
ordinary share capital of the Issuer; 
 (xii) transactions permitted by, and complying with, Article 5; 

(xiii) pledges of Equity Interests of Unrestricted Subsidiaries; 

(xiv) intercompany transactions undertaken in good faith (as certified by the Issuer in an Officers’ Certificate) for the
purpose of improving the consolidated tax efficiency of the Issuer and its Subsidiaries and not for the purpose of circumventing compliance with any covenant set forth in this Indenture; 

(xv) the formation and maintenance of any consolidated group or subgroup for tax, accounting or cash pooling or management
purposes in the ordinary course of business; or 
 (xvi) payroll, travel and similar advances to cover matters that are
expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business consistent with industry practice. 

SECTION 4.08. Change of Control. 

(a) Upon a Change of Control, each Holder shall have the right to require the Issuer to repurchase all or any part of such
Holder’s then outstanding Securities at a purchase price in cash equal to 101% of the principal balance thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record on the relevant
Record Date to receive interest due on the related Payment Date), in accordance with the terms contemplated in this Section 4.08; provided, however, that notwithstanding the occurrence of a Change of Control, the Issuer shall not be
obligated to repurchase any Securities pursuant to this Section 4.08 in the event that it has exercised (i) its unconditional right to redeem such Securities in accordance with Article 3 or (ii) its legal defeasance option or covenant defeasance
option in accordance with Article 8. 

  
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 (b) Within 30 days following any Change of Control, except to the extent that the
Issuer has exercised (x) its unconditional right to redeem the Securities by delivery of a notice of redemption in accordance with Article 3 or (y) its legal defeasance option or covenant defeasance option in accordance with Article 8, the Issuer
shall provide a written notice (a “Change of Control Offer”) to each Holder with a copy to the Trustee stating: 

(i) that a Change of Control has occurred and that such Holder has the right to require the Issuer to repurchase such
Holder’s Securities at a repurchase price in cash (the “Change of Control Payment”) equal to 101% of the principal balance thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the
Holders of record on the relevant Record Date to receive interest on the related Payment Date); 
 (ii) the circumstances
and relevant facts and financial information regarding such Change of Control; 
 (iii) the repurchase date (which shall be
no earlier than 30 days nor later than 60 days from the date such written notice is provided); and 
 (iv) the instructions
determined by the Issuer, consistent with this Section 4.08, that a Holder must follow in order to have its Securities repurchased. 

(c) Holders electing to have a Security repurchased shall be required to surrender the Security, with an appropriate form duly
completed, to the Issuer at the address specified in the notice at least three Business Days prior to the repurchase date. The Holders shall be entitled to withdraw their election if the Issuer receives not later than one Business Day prior to the
repurchase date a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security that was delivered for purchase by the Holder and a statement that such Holder is withdrawing its election
to have such Security repurchased. Holders whose Securities are repurchased only in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. If the Securities are Global Securities held
by the Depository, then the applicable operational procedures of the Depository for tendering and withdrawing securities will apply. 

(d) On the repurchase date, all Securities repurchased by the Issuer under this Section 4.08 shall be delivered to the Trustee
for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest to the Holders entitled thereto. 

(e) A Change of Control Offer may be made in advance of a Change of Control, and conditioned upon such Change of Control, if a
definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 
 (f)
Notwithstanding the foregoing provisions of this Section 4.08, the Issuer shall not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise
in compliance with the requirements set forth in this Section 4.08 applicable to a Change of Control Offer made by the Issuer and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer. 

(g) Securities repurchased by the Issuer pursuant to a Change of Control Offer will have the status of Securities issued but
not outstanding or will be retired and canceled at the option of the Issuer. Securities purchased by a third party pursuant to Section 4.08(f) will have the status of Securities issued and outstanding. 

  
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 (h) At the time the Issuer delivers Securities to the Trustee that are to be
accepted for repurchase, the Issuer shall also deliver an Officers’ Certificate stating that such Securities are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section 4.08 and confirming whether the
Securities will be considered issued but not outstanding, or include orders to cancel the repurchased Securities. A Security shall be deemed to have been accepted for repurchase at the time the Trustee, directly or through an agent, provides payment
therefor to the surrendering Holder. 
 (i) Prior to providing written notice to the Holders of any Change of Control Offer,
the Issuer shall deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel stating that all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. 

(j) The Issuer shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other
securities laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.08. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.08, the Issuer shall
comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.08 by virtue thereof. 

(k) If holders of not less than 90% in aggregate principal amount of the outstanding Securities validly tender and do not
withdraw such Securities in a Change of Control Offer and the Issuer, or any third party making a Change of Control offer in lieu of the Issuer as described above, purchases all of the Securities validly tendered and not withdrawn by such holders,
the Issuer or such third party will have the right, upon not less than 15 days nor more than 60 days’ prior notice, provided that such notice is given not more than 30 days following such purchase pursuant to the Change of Control Offer
described above, to redeem all Securities that remain outstanding following such purchase on a date at a price in cash equal to the Change of Control Payment. 

SECTION 4.09. Further Instruments and Acts. The Issuer shall execute and deliver such further instruments and do such further acts as
may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
 SECTION 4.10. Future
Guarantors. The Issuer shall cause each Restricted Subsidiary, within 10 Business Days of becoming a Restricted Subsidiary, to execute and deliver to the Trustee a supplemental indenture substantially in the form of Exhibit C pursuant to which
such Restricted Subsidiary shall guarantee the Issuer’s Obligations under the Securities and this Indenture.
 SECTION 4.11.
Liens. The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist (a) any Lien (except Permitted Liens) on any asset or property of the Issuer or such Restricted
Subsidiary securing Indebtedness or (b) any Lien on ABL Collateral securing any First Priority Lien Obligation of the Issuer or any Guarantor without effectively providing that the Securities or the applicable Guarantee, as the case may be, shall be
secured by a junior security interest (subject to Permitted Liens) upon the assets or property constituting such ABL Collateral for such First 

  
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Priority Lien Obligations; provided, however, that (1) all such Liens on the ABL Collateral shall be subject to the Intercreditor Agreement and (2) no such junior security interest upon
any Lockbox Account constituting ABL Collateral shall be required. 
 For purposes of determining compliance with this Section 4.11, in the
event that a Lien securing an item of Indebtedness (or any portion thereof) meets the criteria of more than one of the categories of Liens described in the foregoing paragraph or in clauses (1) through (29) of the definition of “Permitted
Liens,” then the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such Lien securing an item of Indebtedness (or any portion thereof) in any manner that complies with this Section 4.11. 

With respect to any Lien securing Indebtedness that was permitted to secure such Indebtedness at the time of the Incurrence of such
Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. The “Increased Amount” of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any accrual of
interest, the accretion of accreted value, the payment of interest or dividends in the form of additional Indebtedness, amortization of original issue discount and increases in the amount of Indebtedness outstanding solely as a result of
fluctuations in the exchange rate of currencies, in each case in respect of such Indebtedness. 
 The Liens granted in favor of the
Collateral Agent on the Notes Collateral to secure the Obligations in respect of the Securities shall be subordinated to any Lien granted in favor of any third party on such Notes Collateral that is permitted by clause (17) of the definition of
“Permitted Liens” (other than such Permitted Liens in favor of the Issuer or any Restricted Subsidiary) and, upon request from the Issuer (which shall be accompanied by an Officers’ Certificate), the Collateral Agent shall take such
action as is requested by the Issuer to reflect such subordination (including the entry into non-disturbance and similar agreements) in connection with the licensing of Intellectual Property and any other transactions permitted by such clause (17),
such as confirming in writing to any actual or potential licensee or counterparty that (i) the Collateral Agent shall not, by enforcing its Lien, or otherwise, disturb or otherwise affect the prior Lien of such licensee or counterparty or any other
rights of the licensee or counterparty under the relevant agreements, (ii) so long as such licensee or counterparty is not in breach of or default under its agreements with the Issuer or its Subsidiaries, neither the Collateral Agent nor any
successor thereto shall assert any rights of the Issuer or any Subsidiary to terminate any rights or benefits of the licensee or counterparty pursuant to the terms of such agreements, and (iii) upon entry by the Issuer or any Subsidiary into any
non-exclusive license agreement with respect to such Intellectual Property with the party licensing such Intellectual Property, such non-exclusive licensee shall take its license rights under such license agreement free of the Liens on the Notes
Collateral. 
 SECTION 4.12. Maintenance of Office or Agency. 

(a) The Issuer shall maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee or
Registrar) where Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in respect of the Securities and this Indenture may be made. The Issuer shall give prompt written notice
to the Trustee of the location, and any change in the location, of such office or agency. If 

  
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at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders may be made at
the corporate trust place of payment and notices and demands may be made at the Corporate Trust Office of the Trustee as set forth in Section 12.01. 

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

(c) The Issuer hereby designates the Corporate Trust Office of the Trustee or its agent as such office or agency of the Issuer
in accordance with Section 2.04. 
 SECTION 4.13. After-Acquired Property. Upon the acquisition by any Issuer or any Guarantor of any
assets or property, including any new Subsidiary of the Issuer or any Guarantor (in each case, other than Excluded Assets) (“After-Acquired Property”), the Issuer or such Guarantor shall promptly execute and deliver such mortgages, deeds
of trust, security instruments, pledge agreements, financing statements and certificates and opinions of counsel as shall be reasonably necessary to vest in the Collateral Agent a perfected security interest or other Lien, subject only to Permitted
Liens, in such After-Acquired Property and to have such After-Acquired Property (but subject to certain limitations, if applicable, including as described under Article 11) added to the Notes Collateral, and shall promptly deliver such
Officers’ Certificates and Opinions of Counsel as are customary in secured financing transactions in the relevant jurisdictions or as are reasonably requested by the Trustee or the Collateral Agent (subject to customary assumptions, exceptions
and qualifications), and thereupon all provisions of this Indenture relating to the Notes Collateral shall be deemed to relate to such After-Acquired Property to the same extent and with the same force and effect; provided that if granting a
security interest or Lien in such After-Acquired Property requires the consent of a third party, the Issuer shall use commercially reasonable efforts to obtain such consent with respect to the security interest or Lien for the benefit of the
Collateral Agent on behalf of the Holders of the Securities; provided, further, that if such third party does not consent to the granting of such security interest or Lien after the use of such commercially reasonable efforts, the Issuer or
such Guarantor, as the case may be, will not be required to provide such security interest or Lien (so long as no other Person is granted a Lien (other than a Permitted Lien that is not an Excluded Permitted Lien) on such After-Acquired Property
securing any Indebtedness following such acquisition or in contemplation thereof); and provided, further, that with respect to the security interest in After-Acquired Property that constitutes ABL Collateral securing First Priority
Lien Obligations, such security interest securing the Securities and the Guarantees shall be subject to the Intercreditor Agreement. Notwithstanding the foregoing, if any property or assets of the Issuer or any Guarantor originally deemed to be an
Excluded Asset at any point ceases to be an Excluded Asset pursuant to such defined term, all or the applicable portion of such property and assets shall be deemed to be After-Acquired Property and shall be added to the Notes Collateral in
accordance with the previous sentence. 

  
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 SECTION 4.14. Intellectual Property. The Issuer shall, at its sole expense, either
directly or by using commercially reasonable efforts to cause any Restricted Subsidiary or any licensee to do so, take any and all commercially reasonable actions to (a) diligently maintain the Intellectual Property owned or held by the Issuer or
any Restricted Subsidiary on the Issue Date and (b) to the extent the Issuer, any Restricted Subsidiary or any licensee in good faith determines appropriate, diligently defend or assert the Intellectual Property against infringement or interference
by any other Persons and against any claims of invalidity or unenforceability by any other Persons (including by bringing any legal action for infringement or defending any counterclaim of invalidity or action for declaratory judgment of
non-infringement) in each case where the failure to so act, prepare, execute, deliver or file would reasonably be expected to have a material adverse effect on the Intellectual Property related to Blood Grouping or Serological Disease Screening, or
the business, results of operations or financial condition, of the Issuer and its Restricted Subsidiaries, in each case, taken as a whole. The Issuer shall not, and shall use its commercially reasonable efforts to cause any Restricted Subsidiary or
any licensee not to, disclaim or abandon, or fail to take any action the Issuer in good faith determines appropriate to prevent the disclaimer or abandonment of, the Intellectual Property, in each case where such disclaimer, abandonment or failure
to take any such action would reasonably be expected to have a material adverse effect on the Intellectual Property related to Blood Grouping or Serological Disease Screening, or the business, results of operations or financial condition, of the
Issuer and its Restricted Subsidiaries, in each case, taken as a whole. Any license of the Intellectual Property rights related to MosaiQTM (to the extent that such Intellectual Property right is directly owned, licensed or otherwise held by the
Issuer or any Guarantor on the Issue Date and included in the Notes Collateral on the date of such license) to the Issuer or any of its Subsidiaries shall only be to the Issuer or a Guarantor. 

SECTION 4.15. Line of Business. Except to such extent as would not be material to the Issuer and its Restricted Subsidiaries as a
whole, the Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, engage in any line of business other than those businesses engaged in on the Issue Date and businesses or other activities that are reasonably similar,
ancillary, complementary or related to, or a reasonable extension, development or expansion of, those businesses engaged on the Issue Date. 

SECTION 4.16. Use of Proceeds. The Issuer shall use, or will cause its Restricted Subsidiaries to use, the net proceeds from the
issuance and sale of the Securities to repay all outstanding obligations under the Issuer’s Amended and Restated Credit, Security and Guaranty Agreement, dated as of August 3, 2015, with Midcap Financial Trust, as amended, to finance the
construction or acquisition of the approximately 92,000 square foot manufacturing, laboratory and office facility in the process of being constructed at the Midlothian Biocampus near Edinburgh, Scotland, to finance the construction or acquisition of
a manufacturing facility for MosaiQTM consumables located in Eysins, Switzerland, to fund the Cash Reserve Account on the Issue Date in the amount of the Initial Cash Reserve Amount, to fund the Cash Reserve Account on the date of issuance of
the Additional Securities in the amount of the Additional Cash Reserve Amount, to pay fees, costs and expenses arising in connection with the issuance of the Securities and for general corporate purposes. 

SECTION 4.17. Existence. Subject to Article 5, each of the Issuer and each Guarantor will do or cause to be done all things necessary
to preserve and keep in full force and 

  
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effect its respective existences, rights (charter and statutory), licenses and franchises; provided, however, that the Issuer shall not be required to preserve any such right, license or
franchise, or the existence of any Guarantor, if the Issuer shall determine in good faith that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and its Restricted Subsidiaries, taken as a whole. 

SECTION 4.18. Scotland Sale/Leaseback Transaction. If the Issuer or any Guarantor consummates a Sale/Leaseback Transaction in respect
of the approximately 92,000 square foot manufacturing, laboratory and office facility in the process of being constructed at the Midlothian Biocampus near Edinburgh, Scotland, the Issuer or such Guarantor shall cause the related lease agreement to
permit the granting of a Lien in respect of the Issuer’s or such Guarantor’s rights thereunder for the benefit of the Collateral Agent. 

SECTION 4.19. Cash Reserve Account. On the Issue Date, the Issuer shall deposit, or cause to be deposited, funds equal to the Initial
Cash Reserve Amount into the Cash Reserve Account and, on the date of issuance of the Additional Securities, the Issuer shall deposit, or cause to be deposited, funds equal to the Additional Cash Reserve Amount into the Cash Reserve Account. For so
long as the Securities are outstanding, the Trustee shall maintain the Cash Reserve Account. The Trustee shall not withdraw funds from or invest funds in the Cash Reserve Account and shall not permit any other Person to withdraw funds from or invest
funds in the Cash Reserve Account, except (a) absent the occurrence and continuance of an Event of Default, the funds in the Cash Reserve Account may be invested in Cash Equivalents at the written direction of the Issuer, (b) after the occurrence
and during the continuance of any Event of Default, acting at the direction of the Holders of a majority of the aggregate principal amount of the Securities then outstanding, the Trustee shall apply the Cash Equivalents in the Cash Reserve Account
to the Obligations or (c) upon written request of the Issuer to the Trustee, as evidenced by an Officers’ Certificate (including the calculation of the then-applicable Cash Reserve Amount), the Trustee shall remit Cash Equivalents in the Cash
Reserve Account to, or at the written direction of, the Issuer in an amount not greater than the excess (if any) above the then-applicable Cash Reserve Amount. Upon the release of the Notes Collateral from the Lien and security interest created by
the Security Documents pursuant to Section 11.02(a)(v) or Section 11.08, the Trustee shall remit Cash Equivalents in the Cash Reserve Account to, or at the written direction of, the Issuer. The Trustee will not be responsible for the costs of any
such investments, and shall have no liability for any investment losses, including any market loss on any investment liquidated prior to maturity in order to make a payment required hereunder. All of such costs shall be charged against the
funds on deposit in the Cash Reserve Account. With respect to any direction or notice in respect of the investment of any funds in the Cash Reserve Account received by the Trustee after 10:00 A.M., New York City time, the Trustee shall not be
required to effect such investment instruction until the following Business Day. All amounts earned on the investments of funds in the Cash Reserve Account will be treated as income of the Issuer for United States federal income tax purposes.
The Issuer acknowledges that, to the extent regulations of the Comptroller of the Currency, or other applicable regulatory entity, grant the Issuer the right to receive individual confirmations of security transactions at no additional cost, as they
occur, the Issuer specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish the Issuer with periodic cash transaction statements that include detail for all investment transactions made by the
Trustee hereunder. 

  
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 SECTION 4.20. Consent of IP Licensors. The Issuer shall, at its sole expense, use its best
efforts to obtain, no later than December 31, 2016, the written consent of (a) each of (i) The Technology Partnership PLC and if required any Affiliate thereof in respect of the TTP IP Rights Agreement, (ii) Stratec Biomedical AG and if required any
Affiliate thereof in respect of the Stratec Development Agreement and (iii) Stratec Biomedical AG and if required any Affiliate thereof in respect of Stratec Supply and Manufacturing Agreement, in each case, to the granting of a lien in favor of the
Collateral Agent with respect to the rights of QBD (QS IP) Limited under each such agreement (including the intellectual property rights granted thereunder) and (by) Ortho-Clinical Diagnostics, Inc. and if required any Affiliate thereof, in respect
of the Ortho Agreement, to the granting of such a lien in favor of the Collateral Agent. 
 ARTICLE 5 

SUCCESSOR COMPANY 

SECTION 5.01. When Issuer May Merge or Transfer Assets. 

(a) The Issuer shall not, directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into
(whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: 

(i) (A) the Issuer is the surviving Person or the Person formed by or surviving any such consolidation, amalgamation, merger,
winding up or conversion (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership, limited liability company or similar entity organized or
existing under the laws of an Approved Jurisdiction (the Issuer or such Person, as the case may be, being herein called the “Successor Company”); and (B) the Successor Company (if other than the Issuer) expressly assumes all the
obligations of the Issuer under this Indenture, the Securities, the Intercreditor Agreements and the Security Documents pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 

(ii) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the
Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no Default shall have occurred and be continuing;

  
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 (iii) immediately after giving pro forma effect to such transaction, as
if such transaction had occurred at the beginning of the applicable four-quarter period (and treating any Indebtedness that becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as
having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction), either: 
 (A)
the Successor Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to Section 4.03(a); or 

(B) the Consolidated Leverage Ratio for the Successor Company and its Restricted Subsidiaries would be less than such ratio
for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; 
 (iv) each Guarantor, unless it is
the other party to the transactions described above, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person’s obligations under this Indenture and the Securities; and 

(v) the Issuer shall have delivered to the Trustee (A) an Officers’ Certificate and an Opinion or Opinions of Counsel,
each stating (to the extent applicable with respect to such Opinion or Opinions of Counsel) that such transaction and such supplemental indentures (if any) comply with this Indenture, (B) an Officers’ Certificate stating that the obligations of
the Issuer under this Indenture, the Securities, the Intercreditor Agreement and the Security Documents remain obligations of the Successor Company and confirming the necessary actions to continue the perfection and priority of the Collateral
Agent’s Lien in the Notes Collateral and of the preservation of its rights therein and (C) an Officers’ Certificate stating that such necessary actions have been taken (together with evidence thereof) promptly and in any event no later
than 30 days following such transaction. 
 (b) The Successor Company (if other than the Issuer) shall succeed to, and be substituted for,
the Issuer under this Indenture, the Securities, the Intercreditor Agreements and the Security Documents, and in such event the Issuer will automatically be released and discharged from its obligations under this Indenture, the Securities and the
Security Documents. Notwithstanding clauses (ii) and (iii) of Section 5.01(a), the Issuer may consolidate, amalgamate or merge with or into, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties
or assets to, an Affiliate of the Issuer incorporated or organized solely for the purpose of reincorporating or reorganizing the Issuer in another Approved Jurisdiction, and notwithstanding such clauses (ii) and (iii), the Issuer may consolidate,
amalgamate or merge with or into or wind up or convert into (whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more
related transactions to, any Restricted Subsidiary. This Article 5 will not apply to a sale, assignment, transfer, lease, conveyance or other disposition of property or assets between or among any of the Issuer and its Restricted Subsidiaries. 

SECTION 5.02. When Guarantors May Merge or Transfer Assets. 

(a) Subject to the provisions of Section 10.02(c) (which govern the release of a Guarantee upon the sale, disposition, exchange
or other transfer of the Capital Stock of a Guarantor), none of the Guarantors shall, and the Issuer shall not permit any Guarantor to, 

  
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directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into (whether or not such Guarantor is the surviving Person), or sell, assign, transfer, lease, convey
or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: 

(i) either (A) such Guarantor is the surviving Person or the Person formed by or surviving any such consolidation,
amalgamation, merger, winding up or conversion (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership, limited liability company or
similar entity organized or existing under the laws of an Approved Jurisdiction (such Guarantor or such Person, as the case may be, being herein called the “Successor Guarantor”) and the Successor Guarantor (if other than such Guarantor)
expressly assumes all the obligations of such Guarantor under this Indenture and, if applicable, such Guarantors’ Guarantee and the Security Documents pursuant to a supplemental indenture or other documents or instruments in form reasonably
satisfactory to the Trustee or (B) such sale or disposition or consolidation, amalgamation or merger is not in violation of Section 4.06; and 

(ii) the Successor Guarantor (if other than such Guarantor) or the Issuer shall have delivered or caused to be delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger, winding up, conversion, sale, assignment, transfer, lease, conveyance or disposition and such supplemental indenture (if
any) comply with this Indenture. 
 (b) Except as otherwise provided in this Indenture, the Successor Guarantor (if other than such
Guarantor) will succeed to, and be substituted for, such Guarantor under this Indenture, such Guarantor’s Guarantee and the Security Documents, and in such event such Guarantor will automatically be released and discharged from its obligations
under this Indenture, such Guarantor’s Guarantee and the Security Documents. 
 (c) Notwithstanding the foregoing, any Guarantor may
consolidate, amalgamate, merge with or into or wind up or convert into, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets to, the Issuer or any other Guarantor. 

ARTICLE 6 
 DEFAULTS AND
REMEDIES 
 SECTION 6.01. Events of Default. An “Event of Default” occurs if: 

(a) there is a default in any payment of interest on any Security when the same becomes due and payable, and such default
continues for a period of 30 days; 
 (b) there is a default in the payment of principal of or premium, if any, on any
Security when due at its Stated Maturity, upon scheduled payment thereof, upon optional redemption, upon required repurchase, upon declaration of acceleration or otherwise (including pursuant to Section 4.01(b)); 

  
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 (c) the Issuer or any Guarantor fails to comply with any of its agreements in the
Securities or this Indenture (other than those referred to in clause (a) or (b) above) and such failure continues for 60 days after the notice specified below; 

(d) the Issuer or any Restricted Subsidiary fails to pay any Indebtedness within any applicable grace period after such payment
is due and payable (including at final maturity) or the acceleration of any such Indebtedness by the holders thereof occurs because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated exceeds $5,000,000 or its
non-U.S. currency equivalent; 
 (e) the Issuer or any Restricted Subsidiary 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 any substantial part of its property; or 

(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any non-U.S. laws
relating to insolvency; 
 (f) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 (i) is for relief against the Issuer or any Restricted Subsidiary of the Issuer in an involuntary case; 

(ii) appoints a Custodian of the Issuer or any Restricted Subsidiary of the Issuer or for any substantial part of its
property; or 
 (iii) orders the winding up or liquidation of the Issuer or any Restricted Subsidiary of the Issuer; 

or any similar relief is granted under any non-U.S. laws and the order or decree remains unstayed and in effect for 60 days; 

(g) the Issuer or any Restricted Subsidiary fails to pay final judgments aggregating in excess of $5,000,000 or its non-U.S.
currency equivalent (net of any amounts that are covered by indemnities provided by reputable and creditworthy companies or enforceable insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period
of 60 days following the entry thereof; 

  
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 (h) any representation or warranty made in writing by or on behalf of the Issuer
or any Guarantor in connection with the issuance and sale of the Securities or made in writing by or on behalf of the Issuer or any Guarantor in connection with the transactions contemplated by this Indenture and the Security Documents proves to
have been false or incorrect in any material respect on the date as of which made (or, if such representation or warranty is given as of a specific time, as of such time); 

(i) the Collateral Agent fails to have a perfected security interest in any portion of the Notes Collateral with a value
greater than $2,500,000, except as contemplated by this Indenture and the Security Documents; 
 (j) any Guarantee ceases to
be in full force and effect (except as contemplated by the terms thereof) or any Guarantor denies or disaffirms its obligations under this Indenture or any Guarantee and such Default continues for 10 days; 

(k) unless all of the Notes Collateral has been released from the Liens in accordance with the provisions of the Security
Documents with respect to the Securities, the Issuer shall assert or any Guarantor shall assert, in any pleading in any court of competent jurisdiction, that any such security interest is invalid or unenforceable and, in the case of any such Person
that is a Subsidiary of the Issuer, the Issuer fails to cause such Subsidiary to rescind such assertions within 10 Business Days after the Issuer has actual knowledge of such assertions; or 

(l) the Issuer or any Guarantor fails to comply for 60 days after notice with its obligations contained in the Security
Documents, except for a failure with respect to assets or property with an aggregate value of less than $5,000,000. 
 The foregoing
shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body. 
 A Default under clause (c) or (l) above shall not constitute an Event of Default
until the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities notify the Issuer (and also the Trustee if given by the Holders) of the Default and the Issuer does not cure such Default within the time specified in
clause (c) or (l) above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” The Issuer shall deliver to the Trustee, within 30 days after the
occurrence thereof, written notice in the form of an Officers’ Certificate of any event that is, or with the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or
proposes to take in respect thereof. 
 SECTION 6.02. Acceleration. If an Event of Default (other than an Event of Default specified
in Section 6.01(e) or 6.01(f) with respect to the Issuer) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of outstanding Securities by written notice to the Issuer may, and if such notice is given by the
Holders such notice shall be given to the Issuer and the Trustee, declare that the principal of, and the premium, 

  
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if any, and accrued but unpaid interest on, all the Securities is due and payable. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of
Default specified in Section 6.01(e) or 6.01(f) with respect to the Issuer occurs, the principal of, and the premium, if any, and accrued but unpaid interest on, all the Securities shall ipso facto become and be immediately due and payable,
without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the Securities by notice to the Trustee may rescind an acceleration and its consequences if all existing Events of
Default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived. 

If the principal of, premium, if any or accrued and unpaid interest, if any, on the Securities becomes due and payable as provided above (an
“Acceleration”) prior to the First Call Date, the principal of, and the premium, if any, and accrued but unpaid interest on the Securities that shall be due and payable in connection with any payment that occurs following such Acceleration
and prior to the First Call Date shall equal the redemption price set forth in Paragraph 5 of the form of Security set forth in Exhibit A hereto in effect on the date such amount is paid, as if such Acceleration were an optional redemption of the
Securities affected thereby on the date such amount is paid. The amount described in the preceding sentence is intended to be liquidated damages and not unmatured interest or a penalty. 

In the event of any Event of Default specified in Section 6.01(d), such Event of Default and all consequences thereof (excluding, however, any
resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders of the Securities, if within 20 days after such Event of Default arose the Issuer delivers an Officers’
Certificate to the Trustee stating that (x) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged, (y) the Holders thereof have rescinded or waived the acceleration, notice or action (as the case may be)
giving rise to such Event of Default or (z) the default that is the basis for such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Securities as described above be annulled,
waived or rescinded upon the happening of any such events. 
 SECTION 6.03. Other Remedies. If an Event of Default occurs and is
continuing, the Trustee may, but only at the written direction of Holders of a majority in principal amount of the then outstanding Securities, pursue any available remedy at law or in equity to collect the payment of principal of or interest on the
Securities or to enforce the performance of any provision of the Securities or this Indenture. 
 The Trustee may maintain a proceeding even
if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy
or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. To the extent required by law, all available remedies are cumulative. 

SECTION 6.04. Waiver of Past Defaults. Provided the Securities are not then due and payable by reason of a declaration of acceleration,
the Holders of a majority in principal amount of the then outstanding Securities by written notice to the Trustee may waive an existing 

  
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Default and its consequences except (a) a Default in the payment of the principal of or interest on a Security, (b) a Default arising from the failure to redeem or purchase any Security when
required pursuant to the terms of this Indenture or (c) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected. When a Default is waived, it is deemed cured and the Issuer, the
Trustee and the Holders will be restored to their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. Any past Default or compliance with any provisions
may be waived with the consent of the Holders of a majority in principal amount of the Securities then outstanding. 
 SECTION 6.05.
Control by Majority. The Holders of a majority in principal amount of the then outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or
power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of any other Holder or
that would involve the Trustee in personal liability. Prior to taking any action under this Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not
taking such action. 
 SECTION 6.06. Limitation on Suits. 

(a) Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue
any remedy with respect to this Indenture or the Securities unless: 
 (i) the Holder gives the Trustee written notice
stating that an Event of Default is continuing; 
 (ii) the Holders of at least 25% in principal amount of the then
outstanding Securities make a written request to the Trustee to pursue the remedy; 
 (iii) such Holder or Holders offer to
the Trustee security or indemnity satisfactory to it against any loss, liability or expense; 
 (iv) the Trustee does not
comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (v) the
Holders of a majority in principal amount of the then outstanding Securities do not give the Trustee a direction inconsistent with the request during such 60-day period. 

(b) A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over
another Holder. 
 SECTION 6.07. Rights of the Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the
right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed 

  
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or provided for in this Indenture or in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the
consent of such Holder. 
 SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a) or Section
6.01(b) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Securities for the whole amount then due and owing (together with interest on
overdue principal and (to the extent lawful) on any unpaid interest at the rate provided for in the Securities) and the amounts provided for in Section 7.06. 

SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or such other professionals as the
Trustee deems necessary, advisable or appropriate)) and the Holders allowed in any judicial proceedings relative to the Issuer or any Guarantor, their creditors or their property, shall be entitled to participate as a member, voting or otherwise, of
any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions and be a
member of a creditors’ or other similar committee, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.06.

 SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to this Article 6 or any Security Document, the
Trustee (after giving effect to Section 5.3 of the Collateral Agreement) shall pay out the money or property in the following order: 

FIRST: to the Trustee for amounts due under Section 7.06; 

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

THIRD: to the Issuer or, to the extent the Trustee collects any amount for any Guarantor, to such Guarantor. 

The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section 6.10. At least 15 days before such
record date, the Trustee shall provide to each Holder and the Issuer a written notice that states the record date, the payment date and amount to be paid. 

SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or 

  
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omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may
assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not
apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10% in principal amount of the Securities. 

SECTION 6.12. Waiver of Stay or Extension Laws. Neither the Issuer nor any Guarantor (to the extent it may lawfully do so) shall at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture;
and the Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall
suffer and permit the execution of every such power as though no such law had been enacted. 
 SECTION 6.13. Holder Request. At the
written request of the Issuer or any Holder (or any holder of beneficial interests in the Securities that certifies to the Trustee that it is a holder of such beneficial interests or is actually known by the Trustee to be such a holder of beneficial
interests as evidenced by a Confidentiality Agreement that has previously been delivered to the Trustee), the Trustee shall, as soon as practicable after receipt of such request and at the Issuer’s sole cost and expense, (a) contact each Holder
or each other Holder (and each other holder of beneficial interests in the Securities) to request each such other Holder or other Holder (and each such other holder of beneficial interests in the Securities) to provide its written permission to
being identified to the Issuer or the requesting Holder (or holder of beneficial interests in the Securities) by the Trustee, to the extent the Trustee has actual knowledge of the identity of such Holder or other Holder (or other holder of
beneficial interests in the Securities), including pursuant to Section 4.02(f) and (b) disclose to the Issuer or the requesting Holder (or other holder of beneficial interests in the Securities) the identity of any such Holder or other Holder (and
any such other holder of beneficial interests in the Securities) who provides such written permission to the Trustee. The Trustee shall have no liability if it contacts any Person that it believes to be a beneficial holder of the Securities that is
not a beneficial holder of the Securities. 
 ARTICLE 7 

TRUSTEE 
 SECTION 7.01.
Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise 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 person would exercise or use under the circumstances in the conduct of such person’s own affairs, except with respect to the
obligation to exercise rights and remedies following an Event of Default, which right and remedies shall be performed by the Trustee acting solely upon the direction of Holders of a majority in principal amount of the Securities in accordance with
Section 6.03 and Section 6.05. 

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

(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty); and 

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee shall be under no duty to make any investigation as to any statement contained in
any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates or opinions required by any provision hereof to be provided to
it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 

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

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

(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial
liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 
 (d) Every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01. 

(e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Issuer. 
 (f) Money held in trust by the Trustee need not be segregated from other funds except to the extent required
by law. 

  
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 (g) The Trustee shall not be liable to any Person for special, punitive,
indirect, consequential or incidental loss or damage of any kind whatsoever (including lost profits), even if the Trustee has been advised of the likelihood of such loss or damage. 

(h) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee shall be subject to the provisions of this Section 7.01. 
 SECTION 7.02. Rights of Trustee. 

(a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the
proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or
refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of
Counsel. 
 (c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith that
it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in
accordance with the advice or opinion of such counsel or Opinion of Counsel. 
 (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, debenture, note or other paper or document unless requested in writing to do
so by the Holders of a majority in principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall incur no liability of any kind by
reason of such inquiry or investigation. 
 (g) The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee in its sole discretion
against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

  
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 (h) The rights, privileges, protections, immunities and benefits given to the
Trustee, including its right to be compensated, reimbursed and indemnified as provided in Section 7.06, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder (including as Collateral Agent), and each agent,
custodian and other Person employed to act hereunder. 
 (i) The Trustee shall not be liable for any action taken or omitted
by it in good faith at the direction of the Holders of a majority in principal amount of the Securities as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred
by this Indenture. 
 (j) Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture
upon the request or authority or consent of any person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of Securities and upon Securities
executed and delivered in exchange therefor or in place thereof. 
 (k) 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 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 that
are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

SECTION 7.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. The Trustee and its Affiliates have engaged, currently are engaged and may in the future engage in financial or other
transactions with the Issuer and its Affiliates in the ordinary course of their respective businesses. Any Paying Agent or Registrar may do the same with like rights. However, the Trustee must comply with Sections 7.09 and 7.10. 

SECTION 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the
validity or adequacy of this Indenture, any Guarantee, the Securities or any Security Documents, it shall not be accountable for the Issuer’s use of the proceeds from the Securities, and it shall not be responsible for any statement of the
Issuer or any Guarantor in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of authentication. The Trustee shall not be charged with knowledge of
any Default or Event of Default under Section 6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g), 6.01(h), 6.01(i), 6.01(j), 6.01(k) or 6.01(l) unless either (a) a Trust Officer shall have actual knowledge thereof or (b) the Trustee shall have received
written notice thereof in accordance with Section 12.01 from the Issuer, any Guarantor or any Holder. 
 SECTION 7.05. Notice of
Defaults. If a Default occurs and is continuing and if it is actually known to the Trustee, the Trustee shall provide to each Holder written notice of the 

  
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Default within 30 days after it is actually known to a Trust Officer or written notice referring to this Indenture, describing such Default or Event of Default and stating that such notice is a
“notice of default,” is received by the Trustee in accordance with Section 12.01. Except in the case of a Default in the payment of principal of or premium (if any) or interest on any Security, the Trustee may withhold the notice if
and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of the Holders. 

SECTION 7.06. Compensation and Indemnity. The Issuer shall pay to the Trustee from time to time reasonable compensation for its
services, as agreed between the Issuer and the Trustee. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee upon request for all reasonable and
documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the
Trustee’s agents, counsel, accountants and experts. The Issuer and each Guarantor, jointly and severally, shall indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable and documented
attorneys’ fees and expenses) incurred by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture or a Guarantee against the
Issuer or a Guarantor (including this Section 7.06) and defending itself against or investigating any claim (whether asserted by the Issuer, any Guarantor, any Holder or any other Person). The obligation to pay such amounts shall survive the
discharge of this Indenture, the payment in full or defeasance of the Securities or the removal or resignation of the Trustee. The Trustee shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge
thereof; provided, however, that any failure so to notify the Issuer shall not relieve the Issuer or any Guarantor of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide
reasonable cooperation at the Issuer’s expense in the defense. Such indemnified parties may have separate counsel and the Issuer and the Guarantors, as applicable, shall pay the reasonable and documented fees and expenses of such counsel;
provided, however, that the Issuer shall not be required to pay such fees and expenses if it assumes such indemnified parties’ defense and, in such indemnified parties’ reasonable judgment, there is no conflict of interest
between the Issuer and the Guarantors, as applicable, and such parties in connection with such defense. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense incurred by an indemnified party through such
party’s own willful misconduct or gross negligence (as determined by a final, non-appealable order of a court of competent jurisdiction) or with respect to any settlement made without its consent. 

To secure the Issuer’s and the Guarantors’ payment obligations in this Section 7.06, the Trustee shall have a Lien prior to the
Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of, and premium, if any, and interest on, particular Securities. 

The Issuer’s and the Guarantors’ payment obligations pursuant to this Section 7.06 shall survive the satisfaction or discharge of
this Indenture, any rejection or termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee

  
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incurs expenses after the occurrence of a Default specified in Section 6.01(e) or Section 6.01(f) with respect to the Issuer, the expenses are intended to constitute expenses of administration
under the Bankruptcy Law. 
 No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity against such risk or liability is not assured to its satisfaction. 

SECTION 7.07. Replacement of Trustee. 

(a) The Trustee may resign in writing at any time upon 30 days prior notice to the Issuer by so notifying the Issuer. The
Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: 

(i) the Trustee fails to comply with Section 7.09; 

(ii) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 
 (iii) a receiver or other public officer takes charge of the Trustee or its property; or 

(iv) the Trustee otherwise becomes incapable of acting. 

(b) If the Trustee resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities
and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a
successor Trustee. 
 (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall provide a
written notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.06. 

(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee fails to comply with Section 7.09, any Holder who has been a bona fide holder of a Security for at least six
months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.07, the obligations of the Issuer and the
Guarantors under Section 7.06 shall continue for the benefit of the retiring Trustee. 

  
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 SECTION 7.08. Successor Trustee by Merger. If the Trustee consolidates with, merges with
or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be
the successor Trustee. 
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall
succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such
Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; and in all such cases such certificates shall have the full force that it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

SECTION 7.09. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of Section 310(a) of the TIA, as
if this Indenture and the rights and duties of the Trustee in respect hereof were subject to the TIA. The Trustee shall have a combined capital and surplus of at least $100,000,000 as set forth in its most recent published annual report of
condition. The Trustee shall comply with Section 310(b) of the TIA, as if this Indenture and the rights and duties of the Trustee in respect hereof were subject to the TIA, subject to its right to apply for a stay of its duty to resign under the
penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the TIA any series of securities issued under this Indenture and any indenture or indentures
under which other securities or certificates of interest or participation in other securities of the Issuer is outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the TIA are met. 

SECTION 7.10. Preferential Collection of Claims Against the Issuer. The Trustee shall comply with Section 311(a) of the
TIA, as if this Indenture and the rights and duties of the Trustee in respect hereof were subject to the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to
Section 311(a) of the TIA, as if this Indenture and the rights and duties of the Trustee in respect hereof were subject to the TIA, to the extent indicated. 

SECTION 7.11. Confidential Information. The Trustee, in its individual capacity and as Trustee, agrees and acknowledges that all
confidential information (“Confidential Information”) provided to the Trustee by the Issuer or any Subsidiary (or any direct or indirect equityholder of the Issuer or such Subsidiary) or any Holder (or holder of a beneficial interest in
the Securities) may be considered to be proprietary and confidential information. The Trustee agrees to take reasonable precautions to keep Confidential Information confidential, which precautions shall be no less stringent than those that the
Trustee employs to protect its own confidential information. The Trustee shall not disclose to any third party other 

  
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than as set forth herein, and shall not use for any purpose other than the exercise of the Trustee’s rights and the performance of its obligations under this Indenture, any Confidential
Information without the prior written consent of the Issuer or such Holder (or such holder of a beneficial interest in the Securities), as applicable. The Trustee shall limit access to Confidential Information received hereunder to (a) its
directors, officers, managers and employees and (b) its legal advisors, to each of whom disclosure of Confidential Information is necessary for the purposes described above; provided, however, that in each case such party has expressly agreed to
maintain such information in confidence under terms and conditions substantially identical to the terms of this Section 7.11. 
 The Trustee
agrees that the Issuer or any Holder (or any holder of a beneficial interest in the Securities), as applicable, does not have any responsibility whatsoever for any reliance on Confidential Information by the Trustee or by any Person to whom such
information is disclosed in connection with this Indenture, whether related to the purposes described above or otherwise. Without limiting the generality of the foregoing, the Trustee agrees that the Issuer or any Holder (or any holder of a
beneficial interest in the Securities), as applicable, makes no representation or warranty whatsoever to it with respect to Confidential Information or its suitability for such purposes. The Trustee further agrees that it shall not acquire any
rights against the Issuer or any of its Subsidiaries or any employee, officer, director, manager, representative or agent of the Issuer or any of its Subsidiaries or any Holder (or any holder of a beneficial interest in the Securities), as
applicable (together with the Issuer, “Confidential Parties”) as a result of the disclosure of Confidential Information to the Trustee and that no Confidential Party has any duty, responsibility, liability or obligation to any Person as a
result of any such disclosure. 
 In the event the Trustee is required to disclose any Confidential Information received hereunder in order
to comply with any laws, regulations or court orders, it may disclose such information only to the extent necessary for such compliance; provided, however, that it shall give the Issuer or any Holder (or any holder of a beneficial interest in the
Securities), as applicable, reasonable advance written notice of any court proceeding in which such disclosure may be required pursuant to a court order so as to afford the Issuer or any Holder (or any holder of a beneficial interest in the
Securities), as applicable, full and fair opportunity to oppose the issuance of such order and to appeal therefrom and shall cooperate reasonably with the Issuer or any Holder (or any holder of a beneficial interest in the Securities), as
applicable, in opposing such court order and in securing confidential treatment of any such information to be disclosed or obtaining a protective order narrowing the scope of such disclosure. 

Each of the Paying Agent and the Registrar agrees to be bound by this Section 7.11 to the same extent as the Trustee. 

  
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 ARTICLE 8 

DISCHARGE OF INDENTURE; DEFEASANCE 

SECTION 8.01. Discharge of Liability on Securities; Defeasance. This Indenture shall be discharged and shall cease to be of further
effect (except as to surviving rights of registration of transfer or exchange of Securities, as expressly provided for in this Indenture) as to all outstanding Securities when: 

(a) either (i) all the Securities theretofore authenticated and delivered (other than Securities pursuant to Section 2.08 that
have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid by the Issuer or discharged from such trust) have been delivered to the
Trustee for cancellation or (ii) all of the Securities that have not been delivered to the Trustee for cancellation (a) have become due and payable, (b) will become due and payable at their Stated Maturity within one year or (c) if redeemable at the
option of the Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer has irrevocably
deposited or caused to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire Indebtedness on the Securities not theretofore delivered to the Trustee for cancellation, for principal of, and premium, if any, and
interest on, the Securities to the date of deposit, together with irrevocable instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; 

(b) the Issuer or the Guarantors have paid all other sums payable under this Indenture; and 

(c) the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel stating that all conditions
precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. 
 (d)
Notwithstanding clauses (a) and (b) above, the Issuer’s obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 6.07, 7.06 and 7.07 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the
Issuer’s obligations in Sections 7.06, 8.05 and 8.06 shall survive such satisfaction and discharge. 
 (e) Subject to
Section 8.01(d) and Section 8.02, the Issuer at any time may terminate (i) all its obligations under the Securities and this Indenture (with respect to such Securities) (“legal defeasance option”) or (ii) its obligations under Sections
4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.10, 4.11, 4.13, 4.14, 4.15, 4.16, 4.17, 4.18, 4.19 and 4.20 and the operation of Section 4.08, Section 5.01 and Sections 6.01(c), 6.01(d), 6.01(e) (with respect to Restricted Subsidiaries of the Issuer only),
6.01(f) (with respect to Restricted Subsidiaries of the Issuer only), 6.01(g), 6.01(h), 6.01(i), 6.01(j), 6.01(k) and 6.01(l) (“covenant defeasance option”). The Issuer may exercise its legal defeasance option notwithstanding its prior
exercise of its covenant defeasance option. In the event that the Issuer terminates all of its obligations under the Securities and this Indenture (with respect to such Securities) by exercising its legal defeasance option or its covenant defeasance
option, the obligations of each Guarantor under its Guarantee of such Securities and the Security Documents shall be terminated simultaneously with the termination of such obligations. 

If the Issuer exercises its legal defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of
Default. If the Issuer exercises its 

  
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covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default specified in Section 6.01(c), 6.01(d), 6.01(e) (to the extent such Section
6.01(e) applies to Restricted Subsidiaries), 6.01(f) (to the extent such Section 6.01(f) applies to Restricted Subsidiaries), 6.01(g), 6.01(h), 6.01(i), 6.01(j), 6.01(k) or 6.01(l) or because of the failure of the Issuer to comply with Sections 4.13
and 5.01. 
 Upon satisfaction of the conditions set forth herein and upon request of the Issuer, the Trustee shall acknowledge in writing
the discharge of those obligations that the Issuer terminates. 
 SECTION 8.02. Conditions to Defeasance. 

(a) The Issuer may exercise its legal defeasance option or its covenant defeasance option only if: 

(i) the Issuer irrevocably deposits in trust with the Trustee cash in U.S. Dollars, U.S. Government Obligations or a
combination thereof in an amount sufficient, or U.S. Government Obligations, the principal of and the interest on which will be sufficient, or a combination thereof sufficient, to pay the principal of and premium (if any) and interest on the
Securities when due at maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; 

(ii) the Issuer delivers to the Trustee a certificate from a firm of independent accountants expressing its opinion that the
payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal,
premium, if any, and interest when due on all the Securities to maturity or redemption, as the case may be; 
 (iii) 91 days
pass after the deposit is made and during the 91-day period no Default specified in Section 6.01(e) or Section 6.01(f) with respect to the Issuer occurs that is continuing at the end of the period; 

(iv) the deposit does not constitute a default under any other material agreement binding on the Issuer; 

(v) in the case of the legal defeasance option, the Issuer shall have delivered to the Trustee an opinion of a tax counsel of
nationally recognized standing in the United States stating that (1) the Issuer has received from, or there has been published by, the IRS a ruling, or (2) since the date of this Indenture there has been a change in the applicable U.S. federal
income tax law, in either case to the effect that, and based thereon such opinion of a tax counsel of nationally recognized standing in the United States shall confirm that, the Holders will not recognize income, gain or loss for U.S. federal income
tax purposes as a result of such deposit and defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; 

  
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 (vi) in the case of the covenant defeasance option, the Issuer shall have
delivered to the Trustee an opinion of a tax counsel of nationally recognized standing in the United States to the effect that the Holders will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such deposit and
defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and 

(vii) the Issuer delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the defeasance and discharge of the Securities to be so defeased and discharged as contemplated by this Article 8 have been complied with. 

(b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Securities at a future date in accordance with Article 3. 
 SECTION 8.03. Application of Trust Money. The Trustee shall hold in
trust money or U.S. Government Obligations (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through each Paying Agent and in accordance with
this Indenture to the payment of principal of and interest on the Securities so discharged or defeased. 
 SECTION 8.04. Repayment to
Issuer. Each of the Trustee and each Paying Agent shall promptly turn over to the Issuer upon request any money or U.S. Government Obligations held by it as provided in this Article 8 that, in the written opinion of a firm of independent public
accountants recognized in the United States delivered to the Trustee (which delivery shall only be required if U.S. Government Obligations have been so deposited), are in excess of the amount thereof that would then be required to be deposited to
effect an equivalent discharge or defeasance in accordance with this Article 8. 
 Subject to any applicable abandoned property law, the
Trustee and each Paying Agent shall pay to the Issuer upon written request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuer
for payment as general creditors, and the Trustee and each Paying Agent shall have no further liability with respect to such monies. 

SECTION 8.05. Indemnity for Government Obligations. The Issuer shall pay and shall indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 

SECTION 8.06. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money or U.S. Government Obligations in
accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any Governmental Authority 

  
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enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Securities so discharged or defeased shall be revived and reinstated
as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this Article 8; provided,
however, that, if the Issuer has made any payment of principal of or interest on any such Securities because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Securities to receive
such payment from the money or U.S. Government Obligations held by the Trustee or any Paying Agent. 
 ARTICLE 9 

AMENDMENTS AND WAIVERS 

SECTION 9.01. Without Consent of the Holders. Notwithstanding Section 9.02, the Issuer, the Collateral Agent, the Guarantors and the
Trustee may amend or supplement this Indenture, the Securities, the Guarantees, the Security Documents or the Intercreditor Agreements, and may waive any provision thereof, without notice to or consent of any Holder: 

(i) to cure any ambiguity, omission, mistake, defect or inconsistency; 

(ii) to provide for the assumption by a Successor Company of the obligations of the Issuer under this Indenture and the
Securities in accordance with the terms of this Indenture; 
 (iii) to provide for the assumption by a Successor Guarantor
of the obligations of a Guarantor under this Indenture and its Guarantee in accordance with the terms of this Indenture; 

(iv) to provide for uncertificated Securities in addition to or in place of certificated Securities; provided, however,
that the uncertificated Securities are issued in registered form for purposes of Sections 871(h)(2)(B) and 881(c)(2)(B) of the Code and United States Treasury Regulation Section 5f.103-1(c); 

(v) to add additional Guarantees with respect to the Securities and to release any Guarantor from its Guarantee in accordance
with the terms of this Indenture; 
 (vi) to add to the covenants of the Issuer for the benefit of the Holders or to
surrender any right or power conferred herein upon the Issuer; 
 (vii) to evidence or provide for the acceptance of
appointment under this Indenture of a successor trustee or a successor collateral agent; 
 (viii) to make any change that
does not adversely affect the rights of any Holder in any material respect; 
 (ix) to add additional assets as Notes
Collateral to secure the Securities; 

  
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 (x) to release Notes Collateral from the Lien pursuant to this Indenture, the
Security Documents and the Intercreditor Agreements when permitted or required by this Indenture, the Security Documents or the Intercreditor Agreements; 

(xi) to modify the Security Documents or the Intercreditor Agreements (a) to secure additional extensions of credit and add
additional secured creditors holding First Priority Lien Obligations so long as such First Priority Lien Obligations are not prohibited by the provisions of this Indenture, (b) as provided for in provisions comparable to Section 2.11(b) of the form
of Intercreditor Agreement attached hereto as Exhibit D or (c) to add the Issuer or any Guarantor as a party to any Intercreditor Agreement to the extent such party Incurs any Secured Indebtedness that constitutes First Priority Lien Obligations in
accordance with the terms of this Indenture or to remove the Issuer or any Guarantor as a party to any Intercreditor Agreement to the extent such party ceases to be bound by any and all First Priority Lien Obligations; or 

(xii) to comply with the rules of any applicable securities depositary. 

Upon the request of the Issuer, and upon receipt by the Trustee of the documents described in Section 9.05, the Trustee shall join with the
Issuer in the execution of any amended or supplemental Indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be
obligated to enter into such modified or amended indenture that affects its own rights, duties or immunities under this Indenture or otherwise. After an amendment under this Section 9.01 becomes effective, the Issuer shall provide to the Holders a
written notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.01. 

SECTION 9.02. With Consent of the Holders. 

(a) The Issuer, the Collateral Agent, the Guarantors and the Trustee may amend or supplement this Indenture, the Securities,
the Guarantees, the Security Documents and the Intercreditor Agreements, and may waive any provision thereof (including any past default or compliance with any such provisions or the provisions of Section 4.08), with the written consent of the
Holders of a majority in principal amount of the Securities then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange for the Securities). However, without the consent of each Holder of an
outstanding Security affected, an amendment, supplement or waiver may not: 
 (i) reduce the principal amount of Securities
whose Holders must consent to an amendment, supplement or waiver; 
 (ii) reduce the rate of or extend the time for payment
of interest on any Security; 

  
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 (iii) reduce the principal of or change the Stated Maturity of any Security (or
the due date in respect of the payment of any installment of principal); 
 (iv) reduce the premium payable upon the
redemption of any Security or change the time at which any Security may be redeemed in accordance with Article 3; 
 (v)
make any Security payable in money other than that stated in such Security; 
 (vi) expressly subordinate the Securities or
any Guarantees in right of payment to any other Indebtedness of the Issuer or any Guarantor or adversely affect the priority of any Liens securing the Securities and the Guarantees, except as provided in the Intercreditor Agreement; 

(vii) make any change in the provisions of this Indenture entitling each Holder to receive payment of principal of or premium,
if any, and interest on such Holder’s Securities on or after the due dates (or the due date in respect of the payment of any installment of principal) therefor or to institute suit for the enforcement of any payment on or with respect to such
Holder’s Securities; 
 (viii) eliminate or modify in any manner the obligations of a Guarantor with respect to its
Guarantee, that adversely affects the Holders in any material respect, except as contemplated by this Indenture; 
 (ix)
make any change in the provisions in this Indenture or the Intercreditor Agreements dealing with the application of proceeds of Notes Collateral that would adversely affect the Holders of the Securities; or 

(x) make any change in Section 6.04 or the second sentence of this Section 9.02. 

Without the consent of the Holders of at least two-thirds in aggregate principal amount of the Securities then outstanding or as otherwise
provided in this Indenture, the Security Documents and the Intercreditor Agreements, no amendment, supplement or waiver may release all or substantially all of the Notes Collateral from the Lien of this Indenture and the Security Documents with
respect to the Securities. 
 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular
form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 

(b) After an amendment under this Section 9.02 becomes effective, the Issuer shall provide to the Holders a written notice
briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.02. 

  
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 SECTION 9.03. Revocation and Effect of Consents and Waivers. 

(a) A consent to an amendment, supplement or a waiver by a Holder of a Security shall bind the Holder and every subsequent
Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent, supplement or waiver is not made on the Security. However, any such Holder or subsequent
Holder may revoke the consent, supplement or waiver as to such Holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the date on which the Trustee receives an Officers’ Certificate from the
Issuer certifying that the requisite principal amount of Securities have consented. After an amendment, supplement or waiver becomes effective, it shall bind every Holder. An amendment, supplement or waiver becomes effective upon the (i) receipt by
the Issuer or the Trustee of consents by the Holders of the requisite principal amount of Securities, (ii) satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such amendment,
supplement or waiver, (iii) execution of such amendment or waiver (or supplemental indenture) by the Issuer and the Trustee and (iv) delivery to the Trustee of the Officers’ Certificate and Opinion of Counsel required under Article 12. 

(b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to
give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding Section 9.03(a), those Persons who were Holders at such record date (or
their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such
consent shall be valid or effective for more than 120 days after such record date. 
 SECTION 9.04. Notation on or Exchange of
Securities. If an amendment, supplement or waiver changes the terms of a Security, the Issuer may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the
changed terms and return it to the Holder. Alternatively, if the Issuer or the Trustee so determines, the Issuer in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to
make the appropriate notation or to issue a new Security shall not affect the validity of such amendment, supplement or waiver. 
 SECTION
9.05. Trustee to Sign Amendments. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it
does, the Trustee may but need not sign it. In signing such amendment, the Trustee shall be entitled to receive indemnity satisfactory to it and shall be provided with, and (subject to Section 7.01) shall be fully protected in relying upon, an
Officers’ Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the
Issuer and the Guarantors, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section 9.03). 

  
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 SECTION 9.06. Payment for Consent. Neither the Issuer nor any Affiliate of the Issuer
shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or
the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. 

SECTION 9.07. Additional Voting Terms; Calculation of Principal Amount. All Securities issued under this Indenture shall vote and
consent together on all matters (as to which any of such Securities may vote) as one class. Determinations as to whether Holders of the requisite aggregate principal amount of Securities have concurred in any direction, waiver or consent shall be
made in accordance with this Article 9 and Section 2.14. 
 ARTICLE 10 

GUARANTEES 
 SECTION
10.01. Guarantees. 
 (a) Each Guarantor hereby jointly and severally irrevocably and unconditionally guarantees as a
primary obligor and not merely as a surety on a senior basis to each Holder, the Trustee, the Collateral Agent and their respective successors and assigns (i) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by
redemption or otherwise, of all obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Securities, whether for payment of principal of, or premium, if any, or interest on, the Securities and all other monetary
obligations of the Issuer under this Indenture and the Securities, and (ii) the full and punctual performance within applicable grace periods of all other obligations of the Issuer, whether for fees, expenses, indemnification or otherwise under this
Indenture and the Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). 

(b) Each Guarantor further agrees that (to the extent permitted by law) the Guaranteed Obligations may be extended or renewed,
in whole or in part, without notice or further assent from each such Guarantor, and that each such Guarantor shall remain bound under this Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. The Guaranteed Obligations
of a Guarantor will be secured by security interests (subject to Permitted Liens) in the Notes Collateral owned by such Guarantor to the extent provided for in the Security Documents and as required pursuant to Sections 4.11 and 4.13. 

(c) Each Guarantor waives presentation to, demand of payment from and protest to the Issuer of any of the Guaranteed
Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i) the failure of any
Holder, the Trustee or the Collateral Agent to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person under this Indenture, the Securities, any Security Document, or any other agreement or otherwise; (ii)
any extension or renewal of this Indenture, the Securities, any Security Document or any other agreement; 

  
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(iii) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities, any Security Document or any other agreement; (iv) the release of any
security held by any Holder, the Trustee or the Collateral Agent for the Guaranteed Obligations or any Guarantor; (v) the failure of any Holder, the Trustee or the Collateral Agent to exercise any right or remedy against any other guarantor of the
Guaranteed Obligations; or (vi) any change in the ownership of such Guarantor, except as provided in Section 10.02(c). 
 (d)
Each Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided among the Guarantors, such that such Guarantor’s obligations would be less than the full amount claimed. Each Guarantor hereby waives
any right to which it may be entitled to have the assets of the Issuer or any other Guarantor first be used and depleted as payment of the Issuer’s or such Guarantor’s obligations hereunder prior to any amounts being claimed from or paid
by such Guarantor hereunder. Each Guarantor hereby waives any right to which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Guarantor. For the avoidance of doubt, each Guarantor irrevocably and
unconditionally waives any right it may have under Jersey law by virtue of the droit de discussion or droit de division. 

(e) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when
due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder, the Trustee or the Collateral Agent to any security held for payment of the Guaranteed Obligations. 

(f) Except as expressly set forth in Sections 8.01 and 10.02, the obligations of each Guarantor hereunder shall not be subject
to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder, the Trustee or the Collateral Agent to assert any claim or demand or to enforce any remedy under this Indenture, the Securities, any Security Document or any other agreement, by any waiver or
modification of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing that may or might in any manner or to any
extent vary the risk of any Guarantor or would otherwise operate as a discharge of any Guarantor as a matter of law or equity. 

(g) Except as expressly set forth in Sections 8.01 and 10.02, each Guarantor agrees that its Guarantee shall remain in full
force and effect until payment in full of its Guaranteed Obligations. Except as expressly set forth in Sections 8.01 and 10.02, each Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may
be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Issuer or otherwise. 

  
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 (h) In furtherance of the foregoing and not in limitation of any other right that
any Holder, the Trustee or the Collateral Agent has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due,
whether at maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee in accordance with this
Indenture, forthwith pay, or cause to be paid, in cash, to the Holders, the Trustee or the Collateral Agent an amount equal to the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such
Guaranteed Obligations (but only to the extent not prohibited by applicable law) and (iii) all other monetary obligations of the Issuer then due to the Holders, the Trustee and the Collateral Agent in respect of the Guaranteed Obligations. 

(i) Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of
any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Holders, the Trustee and the Collateral Agent, on the other hand, (i) the
maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the
Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and
payable by such Guarantor for the purposes of this Section 10.01. 
 (j) Each Guarantor also agrees to pay any and all costs
and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee, the Collateral Agent or any Holder in enforcing any rights under this Section 10.01. 

(k) Each Guarantor shall execute and deliver such further instruments and do such further acts as may be reasonably necessary
or proper to carry out more effectively the purpose of this Indenture. 
 SECTION 10.02. Limitation on Liability. 

(a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed
Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount that, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on
behalf of any other Guarantor in respect of the obligations of such other Guarantor under its Guarantee or pursuant to its contribution obligations under this Indenture, can be guaranteed hereby without rendering the Guarantee, as it relates to such
Guarantor, void or voidable under applicable laws relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally or, in the case of Quotient Suisse or any other Swiss Obligor, applicable Swiss
corporate law. 

  
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 (b) If and to the extent that a Swiss Obligor is liable under this Indenture or
the Securities for obligations of any other obligor (other than the wholly owned direct or indirect subsidiaries of such Swiss Obligor) and if complying with such obligation would constitute a repayment of capital
(Einlagerückgewähr), a violation of the legally protected reserves (gesetzlich geschützte Reserven) or the payment of a constructive dividend (verdeckte Gewinnausschüttung) by such Swiss Obligor or would
otherwise be restricted under Swiss mandatory law and accounting principles then applicable (the “Restricted Obligations”), such Swiss Obligor’s liability will be limited to the amount of such Swiss Obligor’s freely disposable
equity in accordance with Swiss law and Swiss accounting principles (the “Swiss Available Amount”). 
 The limitation in this
Section 10.02(b) shall only apply to the extent that it constitutes a requirement under Swiss mandatory legal and accounting principles at the time a Swiss Obligor is required to perform the Restricted Obligations. Such limitation will not free such
Swiss Obligor from its obligations in excess of the Swiss Available Amount, but will merely postpone the performance date thereof until such time(s) when such performance is again permitted from a Swiss legal and Swiss accounting point of view. 

If the enforcement of the obligations of a Swiss Obligor would be limited due to the effects referred to in this Indenture, such Swiss Obligor
shall further, to the extent permitted by applicable law and accounting principles and upon request by the Trustee, promptly (i) transfer statutory reserves into unrestricted, distributable reserves, (ii) write up or realize any of its assets that
are shown in its balance sheet with a book value that is significantly lower than the market value of the assets, in case of realization, however, only if such assets are not necessary for such Swiss Obligor’s business (nicht
betriebsnotwendig) and such sale is permitted under this Indenture and the Security Documents and (iii) take all other measures necessary or useful to allow the Trustee to obtain the maximum benefit under this guarantee. 

Such Swiss Obligor shall, and any holding company of such Swiss Obligor that is a party to this Indenture shall procure that such Swiss
Obligor shall, take and cause to be taken all and any action as soon as reasonably practicable but in any event within 40 days from the request of the Trustee, including (i) the passing of any shareholders’ resolutions to approve any payment or
other performance under this Indenture or any of the Security Documents, (ii) the provision of an up-to-date audited interim balance sheet, (iii) the provision of a determination by such Swiss Obligor of the Swiss Available Amount based on such
audited interim balance sheet, (iv) the provision of a confirmation from the auditors of such Swiss Obligor that the payment in an amount corresponding to the Swiss Available Amount or the performance of other obligations is in compliance with the
provisions of Swiss corporate law that are aimed at protecting the share capital and legal reserves and (v) the obtaining of any other confirmations which may be necessary or useful as a matter of Swiss mandatory law in force at the time of
enforcement, in order to allow a prompt payment or performance of other obligations with a minimum of limitations. 
 If Swiss Withholding
Tax is required to be deducted from any payment under this Indenture or the Security Documents, including but not limited to, any guarantee payment and any payment of proceeds of any enforcement under applicable law at the time of enforcement, the
relevant Swiss Obligor: 
 (i) shall use its best efforts to ensure that the proceeds of any enforcement can be paid without
deduction of Swiss Withholding Tax, or with deduction of Swiss Withholding Tax at a reduced rate, by discharging the liability to such tax by notification pursuant to applicable law (including tax treaties) rather than payment of the tax (the
“Swiss Notification Procedure”); 

  
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 (ii) shall deduct the Swiss Withholding Tax at such rate (being 35% on the date
hereof) as in force from time to time if the Swiss Notification Procedure does not apply; or shall deduct the Swiss Withholding Tax at the reduced rate resulting after discharge of part of such tax by notification if the Swiss Notification Procedure
applies for a part of the Swiss Withholding Tax only; and shall pay within the time allowed any such taxes deducted to the Swiss Federal Tax Administration; and 

(iii) shall promptly notify the respective beneficiary or beneficiaries that such notification or, as the case may be,
deduction has been made, and provide the respective beneficiary or beneficiaries with evidence that such a notification of the Swiss Federal Tax Administration has been made or, as the case may be, such taxes deducted have been paid to the Swiss
Federal Tax Administration. 
 In the case of a deduction of Swiss Withholding Tax, the Swiss Obligor shall use its best efforts to ensure
that any person that is entitled to a full or partial refund of the Swiss Withholding Tax deducted from such payment under this Indenture or the Securities, will, as soon as possible after such deduction: request a refund of the Swiss Withholding
Tax under applicable law (including tax treaties), and pay to the respective beneficiary or beneficiaries upon receipt any amount so refunded. 

The respective beneficiary or beneficiaries shall co-operate with the Swiss Obligor to secure such refund. To the extent such a deduction is
made, any Swiss Obligor shall not be obliged to pay any Additional Amounts pursuant to Section 4.01(c) or otherwise hold harmless the beneficiary or the beneficiaries in relation to any such deduction. 

To the extent such Swiss Obligor is required to deduct Swiss Withholding Tax pursuant to this Indenture, and if the Swiss Available Amount is
not fully utilized, such Swiss Obligor shall be required to pay, directly or by way of use of the proceeds of enforcement, an additional amount so that after making any required deduction of Swiss Withholding Tax the aggregate net amount paid to the
beneficiary, directly or by way of use of the proceeds of enforcement, is equal to the amount which would have been paid if no deduction of Swiss Withholding Tax had been required. If a refund is made to a beneficiary, such beneficiary shall
transfer the refund so received to the Swiss Obligor, subject to any right of set-off of such beneficiary pursuant to this Indenture or the other Finance Documents and subject to not being in a less favorable net after-tax position than the
beneficiary would have been in if the Swiss Withholding Tax had not been required in the first instance. 

  
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 (c) A Guarantee as to any Guarantor shall terminate and be of no further force or
effect and such Guarantor shall be deemed to be automatically released from all obligations under this Article 10 upon: 

(i) the sale, disposition, exchange or other transfer (including through merger, consolidation, amalgamation or otherwise) of
the Capital Stock of the applicable Guarantor if (i) such sale, disposition, exchange or other transfer is made to a Person who is not the Issuer or a Restricted Subsidiary in a manner not in violation of this Indenture and (ii) after giving effect
to such sale, disposition, exchange or other transfer, such Guarantor is no longer a Restricted Subsidiary; 
 (ii) the
Issuer designating such Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set forth in Section 4.04 and the definition of “Unrestricted Subsidiary”; or 

(iii) the Issuer’s exercise of the Issuer’s legal defeasance option or covenant defeasance option in accordance with
Section 8.01 or if the obligations of the Issuer and such Guarantor under this Indenture are discharged in accordance with the terms of this Indenture. 

SECTION 10.03. Successors and Assigns. This Article 10 shall be binding upon each Guarantor and its successors and assigns and shall
inure to the benefit of the Trustee, the Collateral Agent and the Holders and their successors and assigns and, in the event of any transfer or assignment of rights by any Holder, the Collateral Agent or the Trustee, the rights and privileges
conferred upon that party in this Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 

SECTION 10.04. No Waiver. Neither a failure nor a delay on the part of the Trustee, the Collateral Agent or the Holders in exercising
any right, power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the
Trustee, the Collateral Agent and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits that any of them may have under this Article 10 at law, in equity, by statute or otherwise. 

SECTION 10.05. Modification. No modification, amendment or waiver of any provision of this Article 10, nor the consent to any departure
by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No
notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other circumstances. 

SECTION 10.06. Execution of Supplemental Indenture for Future Guarantors. Each Person that is required to become a Guarantor after the
Issue Date pursuant to Section 4.10 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit C hereto pursuant to which such Person shall become a Guarantor under this Article 10 and shall 

  
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guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Opinion of Counsel and an
Officers’ Certificate to the effect that such supplemental indenture has been duly authorized, executed and delivered by such Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer
and other similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a legal, valid and binding obligation of such Guarantor,
enforceable against such Guarantor in accordance with its terms or to such other matters as the Trustee may reasonably request. 
 SECTION
10.07. No Impairment. The failure to endorse a Guarantee on any Security shall not affect or impair the validity thereof. If an Officer whose signature is on this Indenture or the notation of Guarantee no longer holds that office at the
time the Trustee authenticates such Security, the Guarantee shall be valid nevertheless. 
 ARTICLE 11 

SECURITY DOCUMENTS 

SECTION 11.01. Collateral and Security Documents. The due and punctual payment of the principal of and interest on the Securities when
and as the same shall be due and payable, whether on an Payment Date, at Stated Maturity, or by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of and interest on the Securities and performance of all other
Guaranteed Obligations of the Issuer and the Guarantors to the Holders, the Trustee or the Collateral Agent under this Indenture, the Securities, the Intercreditor Agreements and the Security Documents, according to the terms hereunder or
thereunder, shall be secured as provided in the Security Documents, which define the terms of the Liens that secure the Guaranteed Obligations, subject to the terms of the Intercreditor Agreements. The Trustee and the Issuer hereby acknowledge and
agree that the Collateral Agent holds the Notes Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the terms of the Security Documents and the Intercreditor Agreements. Each Holder, by accepting a Security,
appoints U.S. Bank National Association as Collateral Agent and consents and agrees to the terms of the Security Documents (including the provisions providing for the possession, use, release and foreclosure of Notes Collateral) and the
Intercreditor Agreements as the same may be in effect or may be amended from time to time in accordance with their respective terms and this Indenture, and authorizes and directs the Trustee to enter into the Security Documents and the Intercreditor
Agreements and to bind the Holders to the terms thereof and to perform its obligations and exercise its rights thereunder in accordance therewith. The Issuer shall deliver to the Trustee (if it is not then also appointed and serving as Collateral
Agent) copies of all documents delivered to the Collateral Agent pursuant to the Security Documents, and will do or cause to be done all such acts and things as may be reasonably required by the next sentence of this Section 11.01, to assure and
confirm to the Trustee and the Collateral Agent the Liens on the Notes Collateral contemplated hereby, by the Security Documents or by any part thereof, as from time to time constituted, so as to render the same available for the security and
benefit of this Indenture and of the Securities secured hereby, according to the intent and purposes herein expressed. The Issuer shall take, and shall cause the Guarantors to take, any and all actions reasonably required to cause the Security
Documents to create and maintain at all times, as 

  
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security for the Obligations of the Issuer and the Guarantors hereunder, a valid and enforceable perfected Lien on all of the Notes Collateral (subject to the terms of the Security Documents and
the Intercreditor Agreements), in favor of the Collateral Agent for the benefit of the Trustee and the Holders under the Security Documents. Notwithstanding anything to the contrary in this Indenture or any of the Security Documents, in no event
shall the Collateral Agent be responsible for, or have any duty or obligation with respect to, the recording, filing, registering, perfection, protection or maintenance of the security interests or other Liens intended to be created by this
Indenture or the Security Documents (including the filing or continuation of any UCC financing or continuation statements or similar documents or instruments), nor shall the Collateral Agent be responsible for, and the Collateral Agent makes no
representation regarding, the validity, effectiveness or priority of any of the Security Documents or the security interests or other Liens intended to be created thereby. 

SECTION 11.02. Release of Collateral. 

(a) Subject to Section 11.02(b) and 11.03, the Notes Collateral may be released from the Lien and security interest created by
the Security Documents at any time or from time to time in accordance with the provisions of the Security Documents or the Intercreditor Agreements or as provided by Section 11.08 or by this Section 11.02(a). The Issuer and the Guarantors will be
entitled to a release of assets included in the Notes Collateral from the Liens securing the Securities, and the Trustee shall release, or instruct the Collateral Agent to release, as applicable, the same from such Liens at the Issuer’s sole
cost and expense, under one or more of the following circumstances: 
 (i) to enable the Issuer or any Restricted Subsidiary
to sell, exchange or otherwise dispose of any of the Notes Collateral to any Person other than the Issuer or any Restricted Subsidiary of the Issuer (but excluding any transaction subject to Article 5 where the recipient is required to become the
obligor on the Securities or a Guarantee) to the extent permitted or not prohibited by this Indenture, including Section 4.06; 

(ii) in the case of a Guarantor that is released from its Guarantee with respect to the Securities in accordance with this
Indenture, the release of the Capital Stock (to the extent transferred to a party other than an Issuer or a Guarantor in a transaction not prohibited under Section 4.06) and property and assets of such Guarantor; provided, however, that if the
Issuer or its Restricted Subsidiaries retains any Capital Stock of the applicable Guarantor following a sale, disposition, exchange or other transfer of the Capital Stock of such Guarantor, the Liens on such retained Capital Stock shall not be
released; 
 (iii) in respect of the property and assets of a Restricted Subsidiary, upon the designation of such Restricted
Subsidiary to be an Unrestricted Subsidiary in accordance with Section 4.04 and the definition of “Unrestricted Subsidiary”; 

(iv) in respect of the ABL Collateral (x) to the extent any first-priority liens on such ABL Collateral are released by the
First Lien Agent in connection 

  
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with a disposition of ABL Collateral to the extent permitted or not prohibited under Section 4.06 (except with respect to any proceeds of such disposition that remain after satisfaction in full
of the First Priority Lien Obligations secured by such ABL Collateral) or (y) in accordance with an Intercreditor Agreement; or 

(v) pursuant to an amendment, supplement or waiver in accordance with Article 9. 

Notwithstanding the existence of any Event of Default, the junior lien on the ABL Collateral securing the Securities shall terminate and be
released automatically to the extent the first-priority liens on the ABL Collateral are released by the First Lien Agent in connection with a sale, transfer or disposition of ABL Collateral that is either not prohibited under this Indenture or
occurs in connection with the foreclosure of, or other exercise of remedies with respect to, such ABL Collateral by the First Lien Agent (except with respect to any proceeds of such sale, transfer or disposition that remain after satisfaction in
full of the First Priority Lien Obligations). 
 Upon receipt of an Officers’ Certificate certifying that all conditions precedent
under this Indenture and the Security Documents, if any, to such release have been met and any necessary or proper (as determined by the Issuer) instruments of termination, satisfaction or release have been prepared by the Issuer, the Collateral
Agent shall execute, deliver or acknowledge (at the Issuer’s expense) such instruments or releases to evidence the release of any Notes Collateral permitted to be released pursuant to this Indenture or the Security Documents or the
Intercreditor Agreements. 
 (b) At any time when a Default or Event of Default has occurred and is continuing and the
maturity of the Securities has been accelerated (whether by declaration or otherwise) and the Trustee (if not then also appointed and serving as Collateral Agent) has delivered a notice of acceleration to the Collateral Agent, no release of Notes
Collateral pursuant to the provisions of this Indenture or the Security Documents will be effective as against the Holders, except as otherwise provided in the Intercreditor Agreements. 

SECTION 11.03. Permitted Releases Not To Impair Lien. The release of any Notes Collateral from the terms hereof and of the Security
Documents or the release of, in whole or in part, the Liens created by the Security Documents, will not be deemed to impair the security under this Indenture in contravention of the provisions hereof if and to the extent the Notes Collateral or
Liens are released pursuant to (x) the applicable Security Documents and the terms of this Article 11 or (y) the Intercreditor Agreements. Each of the Holders acknowledges that a release of Notes Collateral or a Lien in accordance with the terms of
the Security Documents and the Intercreditor Agreements and of this Article 11 will not be deemed for any purpose to be in contravention of the terms of this Indenture. 

SECTION 11.04. Suits To Protect the Collateral. Subject to the provisions of Article 7 and the Intercreditor Agreements,
the Trustee in its sole discretion and without the consent of the Holders, on behalf of the Holders, may or may direct the Collateral Agent to take all actions it deems necessary or appropriate in order to: 

(a) enforce any of the terms of the Security Documents; and 

(b) collect and receive any and all amounts payable in respect of the Guaranteed Obligations of the Issuer hereunder. 

  
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 Subject to the provisions of the Security Documents and the Intercreditor Agreements, the Trustee
shall have the power (but not the obligation) to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Notes Collateral by any acts that may be unlawful or in violation of any of the Security
Documents or this Indenture, and such suits and proceedings as the Trustee, in its sole discretion, may deem expedient to preserve or protect its interests and the interests of the Holders in the Notes Collateral (including the power to institute
and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such
enactment, rule or order would impair the Lien on the Notes Collateral or be prejudicial to the interests of the Holders or the Trustee). 

SECTION 11.05. Authorization of Receipt of Funds by the Trustee Under the Security Documents. Subject to the provisions
of the Intercreditor Agreements, the Trustee is authorized (a) to receive any funds for the benefit of the Holders distributed under the Security Documents and (b)to make further distributions of such funds to the Holders according to the provisions
of this Indenture. 
 SECTION 11.06. Purchaser Protected. In no event shall any purchaser in good faith of any property purported to
be released hereunder be bound to ascertain the authority of the Collateral Agent or the Trustee to execute the release or to inquire as to the satisfaction of any conditions required by the provisions hereof for the exercise of such authority or to
see to the application of any consideration given by such purchaser or other transferee; nor shall any purchaser or other transferee of any property or rights permitted by this Article 11 to be sold be under any obligation to ascertain or inquire
into the authority of the Issuer or the applicable Guarantor to make any such sale or other transfer. 
 SECTION 11.07. Powers
Exercisable by Receiver or Trustee. In case the Notes Collateral shall be in the possession of a receiver or trustee, lawfully appointed, the powers conferred in this Article 11 upon the Issuer or a Guarantor with respect to the release, sale or
other disposition of such property may be exercised by such receiver or trustee, and an instrument signed by such receiver or trustee shall be deemed the equivalent of any similar instrument of the Issuer or a Guarantor or of any officer or officers
thereof required by the provisions of this Article 11; and if the Trustee shall be in the possession of the Notes Collateral under any provision of this Indenture, then such powers may be exercised by the Trustee. 

SECTION 11.08. Release Upon Termination of the Issuer’s Obligations. In the event that the Issuer
delivers to the Trustee an Officers’ Certificate certifying that (i) payment in full of the principal of, together with premium, if any, and accrued and unpaid interest on, the Securities and all other Obligations with respect to the Securities
under this Indenture, the Guarantees and the Security Documents that are due and payable at or prior to the time such principal, together with premium, if any, and accrued and unpaid interest (including additional interest, if any), are paid, (ii)
all the Obligations under this Indenture, the Securities and the Security Documents have been satisfied and discharged by complying with the provisions of 

  
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Article 8 or (iii) the Issuer shall have exercised its legal defeasance option or its covenant defeasance option, in each case in compliance with the provisions of Article 8, the Trustee shall
deliver to the Issuer and the Collateral Agent a notice stating that the Trustee, on behalf of the Holders, disclaims and gives up any and all rights it has in or to the Notes Collateral (other than with respect to funds held by the Trustee pursuant
to Article 8), and any rights it has under the Security Documents, and upon receipt by the Collateral Agent of such notice, the Collateral Agent shall be deemed not to hold a Lien in the Notes Collateral on behalf of the Trustee and shall do or
cause to be done all acts reasonably requested by the Issuer to release such Lien as soon as is reasonably practicable. 
 SECTION 11.09.
Collateral Agent. 
 (a) U.S. Bank National Association shall initially act as Collateral Agent and shall be
authorized to appoint co-Collateral Agents as necessary in its sole discretion. Except as otherwise explicitly provided herein or in the Security Documents or the Intercreditor Agreements, neither the Collateral Agent nor any of its officers,
directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Notes Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Notes Collateral upon the
request of any other Person or to take any other action whatsoever with regard to the Notes Collateral or any part thereof. Notwithstanding any provision to the contrary contained elsewhere in this Indenture, the Intercreditor Agreements or the
Security Documents, the duties of the Collateral Agent shall be ministerial and administrative in nature, and the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth in this Indenture, in the
Intercreditor Agreements and in the Security Documents to which the Collateral Agent is a party, nor shall the Collateral Agent have or be deemed to have any trust or other fiduciary relationship with the Trustee, any Holder, the Issuer or any
Guarantor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Indenture, the Intercreditor Agreements or the Security Documents or shall otherwise exist against the Collateral Agent.
Without limiting the generality of the foregoing sentence, the use of the term “agent” or “Agent” in this Indenture, the Intercreditor Agreements and the Security Documents with reference to the Collateral Agent is not intended
to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom and is intended to create or reflect only an administrative
relationship between independent contracting parties. The Collateral Agent shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither the Collateral Agent nor any of its officers,
directors, employees or agents shall be responsible for any act or failure to act hereunder, except for its own willful misconduct or gross negligence (as determined by a final, non-appealable order of a court of competent jurisdiction). 

(b) The Collateral Agent is authorized and directed to (i) enter into the Security Documents, (ii) enter into the Intercreditor
Agreements, (iii) bind the Holders on the terms as set forth in the Security Documents and the Intercreditor Agreements and (iv) perform and observe its obligations under the Security Documents and the Intercreditor Agreements. 

  
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 (c) If the Issuer or any Guarantors Incur any obligations in respect of any First
Priority Lien Obligations at any time when no intercreditor agreement with respect thereto is in effect or at any time when Indebtedness constituting First Priority Lien Obligations entitled to the benefit of an existing intercreditor agreement is
concurrently retired, the Issuer shall deliver to the Collateral Agent an Officers’ Certificate so stating and requesting the Collateral Agent to enter into an Intercreditor Agreement in favor of a designated agent or representative for the
holders of the First Priority Lien Obligations so Incurred, and the Trustee and the Collateral Agent shall (and are hereby authorized and directed to) enter into such Intercreditor Agreement, bind the Holders on the terms set forth therein and
perform and observe their obligations thereunder. 
 (d) The Collateral Agent shall act pursuant to the instructions of the
Holders and the Trustee with respect to the Security Documents and the Notes Collateral. For the avoidance of doubt, the Collateral Agent shall have no discretion under this Indenture, the Intercreditor Agreements or the Security Documents and shall
not be required to make or give any determination, consent, approval, request or direction without the written direction of the requisite Holders or the Trustee, as applicable. After the occurrence of an Event of Default, the Trustee may direct the
Collateral Agent in connection with any action required or permitted by this Indenture, the Security Documents or the Intercreditor Agreements. 

(e) The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default,
unless the Collateral Agent shall have received written notice from the Trustee, a Holder or the Issuer referring to this Indenture, describing such Default or Event of Default and stating that such notice is a “notice of default.” The
Collateral Agent shall take such action with respect to such Default or Event of Default as may be requested by the Trustee or the Holders of a majority in aggregate principal amount of the Securities subject to this Article 11. 

(f) No provision of this Indenture or any Security Document shall require the Collateral Agent (or the Trustee) to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or thereunder or to take or omit to take any action hereunder or thereunder or take any action at the request or direction of Holders (or
the Trustee in the case of the Collateral Agent) if it shall have reasonable grounds for believing that repayment of such funds is not assured to it. Notwithstanding anything to the contrary contained in this Indenture, the Intercreditor Agreements
or the Security Documents, in the event the Collateral Agent is entitled or required to commence an action to foreclose or otherwise exercise its remedies to acquire control or possession of the Notes Collateral, the Collateral Agent shall not be
required to commence any such action, exercise any remedy, inspect or conduct any studies of any property or take any such other action if the Collateral Agent has determined that the Collateral Agent may incur personal liability as a result of the
presence at, or release on or from, the Notes Collateral or such property of any hazardous substances unless the Collateral Agent has received security or indemnity from the Holders in an amount and in a form all satisfactory to the Collateral Agent
in its sole discretion, protecting the Collateral Agent from all such liability. The Collateral Agent shall at any time be entitled to cease taking any action described in this Section 11.09 (f) if it no longer reasonably deems any indemnity,
security or undertaking from the Issuer or the Holders to be sufficient. 

  
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 (g) The Collateral Agent shall not be responsible in any manner to any of the
Trustee or any Holder for the validity, effectiveness, genuineness, enforceability or sufficiency of this Indenture, the Security Documents or the Intercreditor Agreements or for any failure of the Issuer, any Guarantor or any other party to this
Indenture, the Security Documents or the Intercreditor Agreements to perform its obligations hereunder or thereunder. The Collateral Agent shall not be under any obligation to the Trustee or any Holder to ascertain or to inquire as to the observance
or performance of any of the agreements contained in, or conditions of, this Indenture, the Security Documents or the Intercreditor Agreements or to inspect the properties, books or records of the Issuer or the Guarantors. 

(h) The parties hereto and the Holders hereby agree and acknowledge that the Collateral Agent shall not assume, be responsible
for or otherwise be obligated for any liabilities, claims, causes of action, suits, losses, allegations, requests, demands, penalties, fines, settlements, damages (including foreseeable and unforeseeable), judgments, expenses and costs (including
any remediation, corrective action, response, removal or remedial action, or investigation, operations and maintenance or monitoring costs, for personal injury or property damages, real or personal) of any kind whatsoever, pursuant to any
environmental law as a result of this Indenture, the Intercreditor Agreements or the Security Documents or any actions taken pursuant hereto or thereto. Further, the parties hereto and the Holders hereby agree and acknowledge that, in the exercise
of its rights under this Indenture, the Intercreditor Agreements and the Security Documents, the Collateral Agent may hold or obtain indicia of ownership primarily to protect the security interest of the Collateral Agent in the Notes Collateral and
that any such actions taken by the Collateral Agent shall not be construed as or otherwise constitute any participation in the management of such Notes Collateral. 

(i) Upon the receipt by the Collateral Agent of a written request of the Issuer signed by two Officers pursuant to this Section
11.09(i) (a “Security Document Order”), the Collateral Agent is hereby authorized to execute and enter into, and shall execute and enter into, without the further consent of any Holder or the Trustee, any Security Document to be executed
after the Issue Date. Such Security Document Order shall (i) state that it is being delivered to the Collateral Agent pursuant to, and is a Security Document Order referred to in, this Section 11.09(i) and (ii) instruct the Collateral Agent to
execute and enter into such Security Document. Any such execution of a Security Document shall be at the direction and expense of the Issuer, upon delivery to the Collateral Agent of an Officers’ Certificate and an Opinion of Counsel stating
that all conditions precedent to the execution and delivery of such Security Document have been satisfied. The Holders, by their acceptance of the Securities, hereby authorize and direct the Collateral Agent to execute such Security Documents. 

(j) The Collateral Agent’s resignation or removal shall be governed by provisions equivalent to Section 7.07(a), Section
7.07(b), Section 7.07(c), Section 7.07(d) and Section 7.07(f). 
 (k) The Collateral Agent shall be entitled to all of the
protections, immunities, indemnities, rights and privileges of the Trustee set forth in this Indenture, and all such protections, immunities, indemnities, rights and privileges shall apply to the Collateral Agent in its roles under any Security
Document or the Intercreditor Agreements, whether or not expressly stated therein. 

  
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 (l) In relation to the Swiss Security Documents the following additional
provisions shall apply: 
 (i) The Collateral Agent holds: 

(A) any security created or expressed to be created under or pursuant to the Swiss Security Documents by way of a security
assignment (Sicherungsabtretung) or transfer for security purposes (Sicherungsübereignung) or any other non-accessory (nicht akzessorische) security; 

(B) the benefit of this Section 11.09(l); and 

(C) any proceeds and other benefits of such security as fiduciary (treuhänderisch) in its own name but for the
account of any Holder of Securities, the Trustee and any other Secured Party (as defined in the Collateral Agreement) which have the benefit of such security in accordance with the Finance Documents and the respective Swiss Security Documents; 

(ii) each Holder of Securities, the Trustee and any other Secured Party (as defined in the Collateral Agreement) hereby
authorizes the Collateral Agent: 
 (A) to accept and execute as its direct representative (direkter Stellvertreter)
any Swiss law pledge or any other Swiss law accessory (akzessorische) security created or expressed to be created under or pursuant to the Swiss Security Documents for the benefit of such Holder of Securities, the Trustee and any other
Secured Party (as defined in the Collateral Agreement) and hold, administer and, if necessary, enforce any such security on behalf of each relevant Secured Party (as defined in the Collateral Agreement) which has the benefit of such security; 

(B) to agree as its direct representative (direkter Stellvertreter) to amendments and alterations to any Swiss Security
Documents which creates a pledge or any other Swiss law accessory (akzessorische) security; 
 (C) to effect as its
direct representative (direkter Stellvertreter) any release of a security created under the Swiss Security Documents in accordance with this Indenture; and 

(D) to exercise as its direct representative (direkter Stellvertreter) such other rights granted to the Collateral
Agent hereunder or under the relevant Swiss Security Documents; and 

  
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 (iii) the Issuer and each Guarantor hereby authorize the Collateral Agent, when
acting in its capacity as creditor of the Parallel Debt claims as set forth in Section 11.10, to hold: 
 (A) any Swiss law
pledge or any other Swiss law accessory (akzessorische) security; 
 (B) any proceeds of such security; and 

(C) the benefit of this Section 11.09(l) and of the Parallel Debt claims, as creditor in its own right but for the benefit of
the Holders of Securities, the Trustee or any other Secured Party (as defined in the Collateral Agreement) in accordance with this Indenture. 

SECTION 11.10. Parallel Debt. Notwithstanding any other provision of this Indenture, and solely for the purpose of security
granted under the Swiss Security Documents, the Issuer and the Guarantors hereby irrevocably and unconditionally undertake (by way of an abstract acknowledgment of debt (abstraktes Schuldanerkenntnis)) to pay to the Collateral
Agent as creditor in its own right, and not as a representative of the Holders of Securities or the Trustee, amounts equal to any amounts owing from time to time by such obligor to any Holder of Securities, the Trustee and any other Secured Party
(as defined in the Collateral Agreement), this Indenture, the Securities or any other Indenture Document (as defined in the Collateral Agreement) (the “Finance Documents”) as and when, and in the currency of, those amounts are due for
payment under the Finance Documents.  
 The Issuer and each Guarantor acknowledge that their obligations under this Section 11.10
are several and are separate and independent from, and shall not in any way limit or affect, the corresponding obligations of such obligor to any Holder of Securities, the Trustee and any other Secured Party (as defined in the Collateral Agreement),
as applicable (its “Corresponding Debt”), nor shall the amounts for which the Issuer and each Guarantor is liable under this Section 11.10 (its “Parallel Debt”) be limited or affected in any way by its Corresponding Debt;
provided, that, (i) the Parallel Debt shall be decreased to the extent that its Corresponding Debt has been irrevocably paid or discharged; and (ii) the Corresponding Debt of the Issuer and each Guarantor shall be decreased to the extent that its
Parallel Debt has been irrevocably paid or discharged, but further provided that the Corresponding Debt shall not be decreased, if it is effected by virtue of any set-off, counterclaim or similar defense invoked by the Issuer or a Guarantor
vis-à-vis the Trustee. 
 The Collateral Agent acts in its own name and not as a trustee, and its claims in respect of the Parallel
Debt shall not be held in trust. The Liens granted under the Finance Documents to the Collateral Agent to secure the Parallel Debt is granted to the Collateral Agent in its capacity as creditor of the Parallel Debt and shall not be held in trust.

 All monies received or recovered by the Collateral Agent pursuant to this Section 11.10 and all amounts received or recovered by the
Collateral Agent from or by the enforcement of any security interest granted to secure the Parallel Debt, shall be applied in accordance with the Finance Documents. 

  
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 Without limiting or affecting the Collateral Agent’s rights against the Issuer or the
Guarantors the Issuer and each Guarantor acknowledges that (i) nothing in this Section 11.10 shall impose any obligation on the Collateral Agent to advance any sum to the Issuer or the Guarantors or otherwise under the Finance Documents, except
in its capacity as Holder of Securities (if applicable); and (ii) for the purpose of any vote taken any Finance Document, the Collateral Agent shall not be regarded as having any participation or commitment other than those which it has in its
capacity as a Holder of Securities (if applicable). 
 ARTICLE 12 

MISCELLANEOUS 
 SECTION
12.01. Notices. 
 (a) Any notice or communication required or permitted hereunder shall be in writing and delivered
in person, via facsimile, via overnight courier or via first-class mail addressed as follows: 
 if to the Issuer or a
Guarantor: 
 Quotient Limited 

Pentlands Science Park, Bush Loan 

Penicuik, Midlothian, EH26 0PL, United Kingdom 

Attention: Roland Boyd 

Facsimile: +44 131 445 6184 

if to the Trustee or to the Collateral Agent: 

U.S. Bank National Association 

Corporate Trust Services 

One Federal Street, 3rd Floor 

Boston, Massachusetts 02110 

Attention: Alison D.B. Nadeau (Quotient 2016 Indenture) 

Facsimile: (617) 603-6683 
 The
Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. Any notice, direction, request or demand hereunder to or upon the Trustee or the Collateral Agent shall be deemed
to have been sufficiently given or made, for all purposes, upon actual receipt by the Trustee or the Collateral Agent if given or served by being deposited postage prepaid by registered or certified mail in a post office letter box addressed to the
Corporate Trust Office or sent electronically in PDF format. 
 (b) Any notice or communication mailed to a Holder shall be
mailed, first-class mail, to the Holder at the Holder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. Any notice or communication to be delivered to a
Holder of Global Securities shall be delivered in accordance with the applicable procedures of DTC and shall be sufficiently given to such Holder if so delivered to DTC within the time prescribed. 

  
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 (c) Failure to provide a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given and provided, whether or not the addressee receives it, except that notices to the Trustee are
effective only if received. 
 (d) Notwithstanding any other provision of this Indenture or any Security, where this
Indenture or any Security provides for notice of any event (including any notice of repurchase) to a Holder (whether by mail or otherwise), such notice shall be sufficiently given (in the case of a Global Security) if given to DTC (or its designee)
pursuant to the standing instructions from DTC or its designee, including by electronic mail in accordance with accepted practices or procedures at DTC. 

SECTION 12.02. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer to the Trustee to take
or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: 

(a) an Officers’ Certificate to the Trustee stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with; and 
 (b) an Opinion of Counsel to
the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION 12.03.
Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section 4.02(c)) shall include: 

(a) a statement that the individual making such certificate or opinion has read such covenant or condition; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (c) a statement that, in the opinion of such individual, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials. 

SECTION 12.04. When Securities Disregarded. In determining whether the Holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by the Issuer, any Subsidiary or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any Subsidiary shall be
disregarded and deemed not to be outstanding, except that, for the purpose of 

  
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determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities that the Trustee knows are so owned shall be so disregarded. Subject to the
foregoing, only Securities outstanding at the time shall be considered in any such determination. Notwithstanding the foregoing, if any such Person or Persons owns 100% of the Securities, such Securities shall not be so disregarded as aforesaid.

 SECTION 12.05. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting of
the Holders. The Registrar and a Paying Agent may make reasonable rules for their functions. 
 SECTION 12.06. Legal Holidays. If a
Payment Date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such Payment Date if it were a Business Day for the
intervening period. If a Record Date is not a Business Day, the Record Date shall not be affected. 
 SECTION 12.07. GOVERNING LAW;
SUBMISSION TO JURISDICTION; WAIVER OF IMMUNITY. THIS INDENTURE, THE SECURITIES, THE GUARANTEES, THE SECURITY DOCUMENTS AND THE INTERCREDITOR AGREEMENTS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) EXCEPT TO THE EXTENT THAT LOCAL LAW GOVERNS THE CREATION, PERFECTION, PRIORITY OR ENFORCEMENT OF SECURITY
INTERESTS. The Issuer, the Guarantors, the Trustee and, by its acceptance of a Security, each Holder (and holder of beneficial interests in a Security) hereby submit to the non-exclusive jurisdiction of the federal and state courts of competent
jurisdiction in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Indenture or the transactions contemplated hereby. To the extent that the Issuer or any Guarantor may in any jurisdiction
claim for itself or its assets immunity (to the extent such immunity may now or hereafter exist, whether on the grounds of sovereign immunity or otherwise) from suit, execution, attachment (whether in aid of execution, before judgment or otherwise)
or other legal process (whether through service of notice or otherwise), and to the extent that in any such jurisdiction there may be attributed to itself or its assets such immunity (whether or not claimed), such Issuer or Guarantor, as applicable,
irrevocably agrees with respect to any matter arising under this Indenture for the benefit of the Holders not to claim, and irrevocably waives, such immunity to the full extent permitted by the laws of such jurisdiction. 

SECTION 12.08. No Recourse Against Others. No director, officer, employee, manager, member, partner, incorporator or
holder of any Equity Interests in the Issuer or in any Guarantor, as such, shall have any liability for any obligations of the Issuer or the Guarantors under the Securities, this Indenture, the Guarantees, the Security Documents or the Intercreditor
Agreements or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration
for issuance of the Securities. 

  
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 SECTION 12.09. Successors. All agreements of the Issuer and each Guarantor in this
Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. 

SECTION 12.10. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 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 12.11. Table of Contents; Headings and Sections. 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 shall not modify or restrict any of the terms or provisions hereof. 

SECTION 12.12. Indenture Controls. If and to the extent that any provision of the Securities limits, qualifies or conflicts with a
provision of this Indenture, such provision of this Indenture shall control. 
 SECTION 12.13. Severability. In case any provision in
this Indenture 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 and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. 
 SECTION 12.14. Currency of Account; Conversion of Currency; Currency Exchange
Restrictions. 
 (a) U.S. Dollars are the sole currency of account and payment for all sums payable by the Issuer and the
Guarantors under or in connection with the Securities, the Guarantees and this Indenture, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder (whether as a result of, or as a result
of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or otherwise) in respect of any sum expressed to be due to it from the Issuer or a Guarantor shall only constitute a discharge
to the Issuer or any such Guarantor to the extent of the U.S. Dollar amount, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not
practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar amount is less than the U.S. Dollar amount expressed to be due to the recipient under the applicable Securities, the Issuer
and the Guarantors shall indemnify it against any loss sustained by it as a result as set forth in Section 12.14(b). In any event, the Issuer and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the
purposes of this Section 12.14, it will be sufficient for the Holder of a Security to certify in a satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars been made with
the amount so received in that other currency on the date of receipt or recovery 

  
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(or, if a purchase of U.S. Dollars on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be
certified in the manner mentioned above). 
 (b) The Issuer and the Guarantors, jointly and severally, covenant and agree
that the following provisions shall apply to conversion of currency in the case of the Securities, the Guarantees and this Indenture: 

(i) The following apply: 

(A) If for the purpose of obtaining judgment in, or enforcing the judgment of, any court in any country, it becomes necessary
to convert into a currency (the “Judgment Currency”) an amount due in any other currency (the “Base Currency”), then the conversion shall be made at the rate of exchange prevailing on the Business Day before the day on which the
judgment is given or the order of enforcement is made, as the case may be (unless a court shall otherwise determine). 
 (B)
If there is a change in the rate of exchange prevailing between the Business Day before the day on which the judgment is given or an order of enforcement is made, as the case may be (or such other date as a court shall determine), and the date of
receipt of the amount due, the Issuer and the Guarantors will pay such additional (or, as the case may be, such lesser) amount, if any, as may be necessary so that the amount paid in the Judgment Currency when converted at the rate of exchange
prevailing on the date of receipt will produce the amount in the Base Currency originally due. 
 (ii) In the event of the
winding-up of the Issuer or any Guarantor at any time while any amount or damages owing under the Securities, the Guarantees and this Indenture, or any judgment or order rendered in respect thereof, shall remain outstanding, the Issuer and the
Guarantors shall indemnify and hold the Holders and the Trustee harmless against any deficiency arising or resulting from any variation in rates of exchange between (1) the date as of which the non-U.S. currency equivalent of the amount due or
contingently due under the Securities, the Guarantees and this Indenture (other than under this subsection (b)(ii)) is calculated for the purposes of such winding-up and (2) the final date for the filing of proofs of claim in such winding-up. For
the purpose of this subsection (b)(ii), the final date for the filing of proofs of claim in the winding-up of the Issuer or any Guarantor shall be the date fixed by the liquidator or otherwise in accordance with the relevant provisions of applicable
law as being the latest practicable date as at which liabilities of the Issuer or such Guarantor may be ascertained for such winding-up prior to payment by the liquidator or otherwise in respect thereto. 

(c) The obligations contained in subsections (a), (b)(i)(B) and (b)(ii) of this Section 12.14 shall constitute separate and
independent obligations from the other obligations 

  
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of the Issuer and the Guarantors under this Indenture, shall give rise to separate and independent causes of action against the Issuer and the Guarantors, shall apply irrespective of any waiver
or extension granted by any Holder or the Trustee or either of them from time to time and shall continue in full force and effect notwithstanding any judgment or order or the filing of any proof of claim in the winding-up of the Issuer or any
Guarantor for a liquidated sum in respect of amounts due hereunder (other than under subsection (b)(ii) above) or under any such judgment or order. Any such deficiency as aforesaid shall be deemed to constitute a loss suffered by the Holders or the
Trustee, as the case may be, and no proof or evidence of any actual loss shall be required by the Issuer or any Guarantor or the liquidator or otherwise or any of them. In the case of subsection (b)(ii) above, the amount of such deficiency shall not
be deemed to be reduced by any variation in rates of exchange occurring between the said final date and the date of any liquidating distribution. 

(d) The term “rate(s) of exchange” shall mean the rate of exchange quoted by Reuters at 10:00 a.m. (New York City
time) for spot purchases of the Base Currency with the Judgment Currency other than the Base Currency referred to in subsections (b)(i) and (b)(ii) above and includes any premiums and costs of exchange payable. 

SECTION 12.15. Intercreditor Agreement Governs. 

(a) The terms of this Indenture are subject to the Intercreditor Agreements. Each Holder, by its acceptance of a Security, (i)
consents to the subordination of Liens provided for in the Intercreditor Agreements, (ii) agrees that it will be bound by and will take no actions contrary to the provisions of the Intercreditor Agreements and (iii) authorizes and instructs the
Trustee to enter into the Intercreditor Agreements and the Collateral Agent to enter into the Intercreditor Agreements as Noteholder Collateral Agent (as defined therein) and to bind such Holder to the terms thereof, and, in each case, on behalf of
such Holder. The foregoing provisions are intended as an inducement to the other lenders to the Issuer or any Guarantors acting as a secured party under the Intercreditor Agreements to extend credit and such lenders are intended third party
beneficiaries of such provisions and the provisions of the Intercreditor Agreements. Pursuant to the authorization of each Holder, the Trustee and the Collateral Agent hereby agree to enter into Intercreditor Agreements substantially in the form
attached hereto as Exhibit D from time to time upon the request of the Issuer, when accompanied by an Officers’ Certificate and Opinion of Counsel confirming compliance with all conditions precedent set forth herein. To the extent the
provisions of this Indenture conflict or are inconsistent with the Intercreditor Agreements, each Holder (by accepting a Security), the Trustee and the Collateral Agent consents and agrees that the Intercreditor Agreements will control. 

(b) Notwithstanding anything to the contrary herein, in this Indenture or in any Security Document or any ABL Document (as such
term is defined in the Intercreditor Agreements), the Issuer and the Guarantors shall not be required to act or refrain from acting (i) pursuant to this Indenture or any Security Document solely with respect to any ABL Collateral in any manner that
would cause a default under any ABL Document, or (ii) pursuant to any ABL Document solely with respect to any Noteholder First Lien Collateral in any manner that would cause a default under this Indenture or any Security Document. For avoidance of
doubt, and for the purposes of this paragraph only, the terms Security Document and ABL Document do not include the Intercreditor Agreements. 

  
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 SECTION 12.16. Tax Matters. 

(a) The Issuer has entered into this Indenture, and the Securities will be issued, with the intention that, for all tax purposes, the
Securities will qualify as indebtedness. The Issuer, by entering into this Indenture, and each Holder and beneficial owner of Securities, agree to treat the Securities as indebtedness for all tax purposes. 

(b) The Issuer shall instruct DTC to code interest on the Securities held by DTC as “foreign source” income. 

SECTION 12.17. USA PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA 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 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 USA PATRIOT Act. 

SECTION 12.18. Limited Incorporation of the Trust Indenture Act. This Indenture is not subject to the mandatory provisions
of the TIA. The provisions of the TIA are not incorporated by reference in or made part of this Indenture unless specifically provided herein. 

SECTION 12.19. WAIVER OF TRIAL BY JURY. THE ISSUER, EACH GUARANTOR, THE COLLATERAL AGENT AND THE TRUSTEE HEREBY WAIVE TRIAL
BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS INDENTURE. 
 {Remainder of page intentionally left blank} 

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

					
	QUOTIENT LIMITED
		
	By:	 	 /s/ Paul Cowan

		 	Name:	 	Paul Cowan
		 	Title:	 	Chief Executive Officer
	
	QBD (QS IP) LIMITED
		
	By:	 	 /s/ Paul Cowan

		 	Name:	 	Paul Cowan
		 	Title:	 	Sole Director
	
	QUOTIENT BIODIAGNOSTICS, INC.
		
	By:	 	 /s/ Paul Cowan

		 	Name:	 	Paul Cowan
		 	Title:	 	Director
	
	ALBA BIOSCIENCE LIMITED
		
	By:	 	 /s/ Desmond Joseph Paul Edward Cowan

		 	Name:	 	Desmond Joseph Paul Edward Cowan
		 	Title:	 	Director
	
	QUOTIENT SUISSE SA
		
	By:	 	 /s/ Paul Cowan

		 	Name:	 	Paul Cowan
		 	Title:	 	sole member of the Board
	
	QUOTIENT BIOCAMPUS LIMITED
		
	By:	 	 /s/ Desmond Joseph Paul Edward Cowan

		 	Name:	 	Desmond Joseph Paul Edward Cowan
		 	Title:	 	Director

  
 {Signature Page to the
Indenture} 

 
					
	US BANK NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	 /s/ Alison B. Nadeau

		 	Name:	 	Alison B. Nadeau
		 	Title:	 	Vice President
	
	US BANK NATIONAL ASSOCIATION,
	as Collateral Agent
		
	By:	 	 /s/ Alison B. Nadeau

		 	Name:	 	Alison B. Nadeau
		 	Title:	 	Vice President

  
 {Signature Page to the
Indenture} 

 APPENDIX A 

PROVISIONS RELATING TO SECURITIES 

1. Definitions. 
 1.1
Definitions. 
 For the purposes of this Appendix A, the following terms shall have the meanings indicated below (and if not defined
in this Appendix A, capitalized terms used herein shall have the meaning set forth in this Indenture): 
 “Accredited Investor”
means an “accredited investor” as defined in subclause (1), (2), (3) or (7) of Rule 501 that is not (i) a QIB or (ii) a Person other than a U.S. Person that acquires Securities in reliance on Regulation S. 

“Clearstream” means Clearstream Banking, S.A. 

“Definitive Security” means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that does not include the Global Securities Legend. 
 “Depository” means The Depository Trust
Company, its nominees and their respective successors. 
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear
System. 
 “Global Securities Legend” means the legend set forth in Section 2.2(f)(ii) herein. 

“Global Security” means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that includes the Global Securities Legend. The term “Global Securities” includes Rule 144A Global Securities and Regulation S Global Securities. 

“Purchase Agreement” means each Purchase Agreement dated October 14, 2016, among the Issuer, the guarantors party thereto and the
purchasers party thereto. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

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

“Regulation S Securities” means all Securities offered and sold outside the United States in reliance on Regulation S. 

“Restricted Period,” with respect to any Regulation S Securities, means the period of 40 consecutive days beginning on and including
the later of (a) the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S, notice of which day shall be promptly given by the Issuer to the Trustee, and (b) the
date of issuance of such Securities. 

  
 A-1 

 “Restricted Securities Legend” means the legend set forth in Section 2.2(f)(i) herein.

 “Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Securities” means all Securities privately placed with QIBs. 

“Rule 501” means Rule 501(a) under the Securities Act. 

“Rule 506” means Rule 506 under the Securities Act. 

“Securities Custodian” means the custodian with respect to a Global Security (as appointed by the Depository) or any successor
person thereto, who shall initially be the Trustee. 
 “Transfer Restricted Definitive Securities” means Definitive Securities
that bear or are required to bear or are subject to the Restricted Securities Legend. 
 “Transfer Restricted Global Securities”
means Global Securities that bear or are required to bear or are subject to the Restricted Securities Legend. 
 “Unrestricted
Definitive Securities” means Definitive Securities that are not required to bear, and are not subject to, the Restricted Securities Legend. 

“Unrestricted Global Securities” means Global Securities that are not required to bear, and are not subject to, the Restricted
Securities Legend. 
 “U.S. Person” means a “U.S. person” as defined in Regulation S. 

  
 A-2 

 1.2 Other Definitions. 

 

					
	Term:	  	Defined in Section:	  	 
			
	Agent Members	  	2.1(b)	  	
	Regulation S Global Securities	  	2.1(b)	  	
	Rule 144A Global Securities	  	2.1(b)	  	

 2. The Securities. 

2.1 Form and Dating; Global Securities. 

(a) Issuance and Transfers. The Securities issued by the Issuer will be (i) privately placed by the Issuer pursuant to
the Purchase Agreement and (ii) sold initially only to (1) QIBs, (2) Persons other than U.S. Persons in reliance on Regulation S and (3) Accredited Investors. Such Securities may thereafter be transferred to, among others, QIBs, purchasers in
reliance on Regulation S and Accredited Investors. 
 (b) Global Securities. (i) Except as provided in clause (c)
below, Rule 144A Securities initially shall be represented by one or more Securities in definitive, fully registered, global form without interest coupons (collectively, the “Rule 144A Global Securities”). 

Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without interest coupons
(collectively, the “Regulation S Global Securities”), which shall be registered in the name of the Depository for the accounts of designated agents holding on behalf of Euroclear or Clearstream. 

The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear”
and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial interests in the Regulation S Global Securities that are held through Euroclear
or Clearstream. 
 The Global Securities shall bear the Global Securities Legend. The Global Securities initially shall (i) be registered in
the name of the Depository, in each case for credit to an account of an Agent Member, (ii) be delivered to the Securities Custodian and (iii) bear the Restricted Securities Legend. 

Members of, or direct or indirect participants in, the Depository (collectively, the “Agent Members”) shall have no rights under
this Indenture with respect to any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Securities. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the
Trustee as the absolute owner of the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 

  
 A-3 

 The Registrar shall retain copies of all letters, notices, Confidentiality Agreements and other
written communications received pursuant to this Section 2.1 or Section 2.2 herein. The Issuer, at its sole cost and expense, shall have the right to inspect and make copies of all such letters, notices, Confidentiality Agreements or other written
communications at any reasonable time upon the giving of reasonable written notice to the Registrar. 
 (ii) Transfers of Global Securities
shall be limited to transfer in whole, but not in part, to the Depository. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only in accordance with the applicable rules and procedures
of the Depository and the provisions of Section 2.2 herein. In addition, a Global Security shall be exchangeable for Definitive Securities if (x) the Depository (1) notifies the Issuer that it is unwilling or unable to continue as depository for
such Global Security and the Issuer thereupon fails to appoint a successor depository or (2) has ceased to be a clearing agency registered under the Exchange Act or (y) there shall have occurred and be continuing an Event of Default with respect to
such Global Security. In all cases, Definitive Securities delivered in exchange for any Global Security or beneficial interests therein shall be registered in the names, and issued in any approved denominations, requested by or on behalf of the
Depository in accordance with its customary procedures. 
 (iii) In connection with the transfer of a Global Security as an entirety to
beneficial owners pursuant to Section 2.1(b)(ii) herein, such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and the Trustee shall authenticate and make available for delivery, to
each beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. 

(iv) Any Transfer Restricted Definitive Security delivered in exchange for an interest in a Global Security pursuant to Section 2.2 herein
shall, except as otherwise provided in Section 2.2 herein, bear the Restricted Securities Legend. 
 (v) Notwithstanding the foregoing,
through the Restricted Period, a beneficial interest in a Regulation S Global Security may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section 2.2 herein. 

(vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Securities. 

(c) Definitive Securities. To the extent that the purchaser of a Security is an Accredited Investor or otherwise cannot
or opts not to hold a beneficial interest in a Global Security, then such Security shall be represented by one or more Definitive Securities. 

  
 A-4 

 2.2 Transfer and Exchange. 

(a) Transfer and Exchange of Global Securities. A Global Security may not be transferred as a whole except as set forth
in Section 2.1(b) herein. Global Securities will not be exchanged by the Issuer for Definitive Securities except under the circumstances described in Section 2.1(b)(ii) herein. Global Securities also may be exchanged or replaced, in whole or in
part, as provided in Sections 2.08 and 2.10 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged as provided in Section 2.2(b) herein or Section 2.2(g) herein. 

(b) Transfer and Exchange of Beneficial Interests in Global Securities. The transfer and exchange of beneficial
interests in the Global Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer Restricted Global Securities
shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers and exchanges of beneficial interests in the Global Securities also shall require compliance with either
subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Transfer Restricted Global
Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Transfer Restricted Global Security in accordance with the transfer restrictions set forth in the Restricted Securities Legend;
provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S. Person or for the account or benefit of a U.S. Person (other than
to a QIB in reliance on Rule 144A). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security. No written orders or
instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.2(b)(i). 

(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Securities. In connection with all transfers
and exchanges of beneficial interests in any Global Security that is not subject to Section 2.2(b)(i) herein, the transferor of such beneficial interest must deliver to the Registrar (1) a written order from an Agent Member given to the Depository
in accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or
exchanged and (2) instructions given in accordance with the applicable rules and procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the requirements
for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security
pursuant to Section 2.2(g) herein. 

  
 A-5 

 (iii) Transfer of Beneficial Interests to Another Transfer Restricted Global
Security. A beneficial interest in a Transfer Restricted Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Transfer Restricted Global Security if the transfer complies with
the requirements of Section 2.2(b)(ii) herein and the Registrar receives the following: 
 (A) if the transferee will take
delivery in the form of a beneficial interest in a Rule 144A Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and 

(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the
transferor must deliver a certificate in the form attached to the applicable Security. 
 (iv) Transfer and Exchange of
Beneficial Interests in a Transfer Restricted Global Security for Beneficial Interests in an Unrestricted Global Security. A beneficial interest in a Transfer Restricted Global Security may be exchanged by any holder thereof for a beneficial
interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section
2.2(b)(ii) herein and the Registrar receives the following: 
 (A) if the holder of such beneficial interest in a Transfer
Restricted Global Security proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or 

(B) if the holder of such beneficial interest in a Transfer Restricted Global Security proposes to transfer such beneficial
interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, 

and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Issuer and the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted
Securities Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv) at a time when an Unrestricted Global Security has not yet been issued,
the Issuer shall issue and, upon receipt of a written order of the Issuer in the form of an Officers’ Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate
principal amount of beneficial interests transferred or exchanged pursuant to this subparagraph (iv). 
 (v) Transfer and
Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial Interests in a Transfer Restricted Global Security. Beneficial 

  
 A-6 

 
interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Transfer Restricted Global
Security. 
 (c) Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities. A
beneficial interest in a Global Security may not be exchanged for a Definitive Security except under the circumstances described in Section 2.1(b)(ii) herein. A beneficial interest in a Global Security may not be transferred to a Person who
takes delivery thereof in the form of a Definitive Security except under the circumstances described in Section 2.1(b)(ii) herein or Section 2.1(c) herein. 

(d) Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities. Transfers and
exchanges of Definitive Securities for beneficial interests in Global Securities also shall require compliance with either subparagraph (i), (ii), (iii) or (iv) below, as applicable: 

(i) Transfer Restricted Definitive Securities to Beneficial Interests in Transfer Restricted Global Securities. If any
Holder of a Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted Definitive Security for a beneficial interest in a Transfer Restricted Global Security or to transfer such Transfer Restricted Definitive Security to a
Person who takes delivery thereof in the form of a beneficial interest in a Transfer Restricted Global Security, then, upon receipt by the Registrar of the following documentation: 

(A) if the Holder of such Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted Definitive
Security for a beneficial interest in a Transfer Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; 

(B) if such Transfer Restricted Definitive Security is being transferred to a QIB in accordance with Rule 144A, a certificate
from such Holder in the form attached to the applicable Security; 
 (C) if such Transfer Restricted Definitive Security is
being transferred to a Person that is not a U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; 

(D) if such Transfer Restricted Definitive Security is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; and 

(E) if such Transfer Restricted Definitive Security is being transferred to the Issuer or a Subsidiary thereof, a certificate
from such Holder in the form attached to the applicable Security; 

  
 A-7 

 the Trustee shall cancel the Transfer Restricted Definitive Security, and increase or cause to be
increased the aggregate principal amount of the appropriate Transfer Restricted Global Security. 
 (ii) Transfer
Restricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of a Transfer Restricted Definitive Security may exchange such Transfer Restricted Definitive Security for a beneficial interest in an
Unrestricted Global Security or transfer such Transfer Restricted Definitive Security to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: 

(A) if the Holder of such Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted Definitive
Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or 

(B) if the Holder of such Transfer Restricted Definitive Security proposes to transfer such Transfer Restricted Definitive
Security to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, 

and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend
are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Transfer Restricted Definitive Securities and increase or cause to be
increased the aggregate principal amount of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii) at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall
issue and, upon receipt of an written order of the Issuer in the form of an Officers’ Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal
amount of Transfer Restricted Definitive Securities transferred or exchanged pursuant to this subparagraph (ii). 
 (iii)
Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of an Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted
Global Security or transfer such Unrestricted Definitive Security to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer,
the Trustee shall cancel the applicable Unrestricted Definitive Security and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this
subparagraph (iii) at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall issue and, upon 

  
 A-8 

 
receipt of a written order of the Issuer in the form of an Officers’ Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount
equal to the aggregate principal amount of Unrestricted Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). 

(iv) Unrestricted Definitive Securities to Beneficial Interests in Transfer Restricted Global Securities. An
Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Transfer Restricted Global Security. 

(e) Transfer and Exchange of Definitive Securities for Definitive Securities. Upon request by a Holder of Definitive
Securities and such Holder’s compliance with the provisions of this Section 2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder shall
present or surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In
addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.2(e): 

(i) Transfer Restricted Definitive Securities to Transfer Restricted Definitive Securities. A Transfer Restricted
Definitive Security may be transferred to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Definitive Security if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, a certificate in the form attached to the applicable Security; 

(B) if the transfer will be made pursuant to Rule 903 or Rule 904 under the Securities Act, a certificate in the form attached
to the applicable Security; 
 (C) if the transfer will be made pursuant to an exemption from the registration requirements
of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Security; 

(D) if the transfer will be made to an Accredited Investor in reliance on an exemption from the registration requirements of
the Securities Act other than those listed in subparagraphs (A) through (C) above, a certificate in the form attached to the applicable Security and a Transferee Letter of Representation in the form of Exhibit B to this Indenture; and 

(E) if such transfer will be made to the Issuer or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. 

  
 A-9 

 (ii) Transfer Restricted Definitive Securities to Unrestricted Definitive
Securities. Any Transfer Restricted Definitive Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security if
the Registrar receives the following: 
 (1) if the Holder of such Transfer Restricted Definitive Security proposes to
exchange such Transfer Restricted Definitive Security for an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or 

(2) if the Holder of such Transfer Restricted Definitive Security proposes to transfer such Transfer Restricted Definitive
Security to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security, 

and, in each such case, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such
exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. 

(iii) Unrestricted Definitive Securities to Unrestricted Definitive Securities. A Holder of an Unrestricted Definitive
Security may transfer such Unrestricted Definitive Security to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to register such a transfer, the Registrar shall register
the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. 
 (iv) Unrestricted
Definitive Securities to Transfer Restricted Definitive Securities. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Definitive Security.

 At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular
Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be retained and canceled by the Trustee in accordance with Section 2.11 of this Indenture. At any time prior to such cancellation,
if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal amount of
Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial
interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on
such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

  
 A-10 

 (f) Legends. 

(i) Each Security certificate evidencing the Global Securities and the Definitive Securities (and all Securities issued in exchange therefor
or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only): 

NEITHER THIS NOTE NOR ANY INTEREST HEREIN HAS BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), THE
SECURITIES LAWS OF ANY STATE OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION, NOR IS SUCH REGISTRATION CONTEMPLATED. NEITHER THIS NOTE NOR ANY INTEREST HEREIN MAY BE ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED, SOLD OR OFFERED FOR SALE OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF AN EXEMPTION FROM SUCH REGISTRATION THEREUNDER AND ANY OTHER APPLICABLE SECURITIES LAW REGISTRATION REQUIREMENTS. EACH PERSON OR ENTITY THAT ACQUIRES OR ACCEPTS THIS NOTE OR AN INTEREST HEREIN BY SUCH ACQUISITION OR
ACCEPTANCE (1) REPRESENTS THAT (A) IT IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) AND, IF SUBSEQUENT TO THE INITIAL ACQUISITION HEREOF, IS PURCHASING THIS NOTE IN A TRANSACTION MEETING THE REQUIREMENTS OF
RULE 144A UNDER THE SECURITIES ACT, (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT OR (C) IT IS AN ACCREDITED INVESTOR AS DEFINED IN
SUBPARAGRAPH (a)(1), (a)(2), (a)(3) or (a)(7) OF RULE 501 UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”), HAS SUFFICIENT KNOWLEDGE AND EXPERIENCE IN FINANCIAL AND BUSINESS MATTERS TO BE CAPABLE OF EVALUATING THE MERITS AND RISKS OF
THE PURCHASE OF THIS NOTE AND IS ABLE AND PREPARED TO BEAR THE ECONOMIC RISK OF INVESTING IN AND HOLDING THIS NOTE, (2) AGREES THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE OR AN INTEREST HEREIN, EXCEPT (A) TO THE ISSUER OR A
SUBSIDIARY THEREOF, (B) FOR SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO AN ENTITY IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER, TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A UNDER THE SECURITIES ACT, (C) TO PERSONS OR ENTITIES OTHER THAN U.S. PERSONS, INCLUDING DEALERS OR OTHER PROFESSIONAL FIDUCIARIES IN THE
UNITED STATES ACTING ON A DISCRETIONARY BASIS FOR NON-U.S. BENEFICIAL OWNERS (OTHER THAN AN ESTATE OR TRUST), IN OFFSHORE TRANSACTIONS IN RELIANCE UPON, AND IN ACCORDANCE WITH, REGULATION S UNDER THE SECURITIES ACT OR (D) TO AN ACCREDITED INVESTOR
THAT IS PURCHASING THIS NOTE OR AN INTEREST HEREIN, AS THE CASE MAY BE, FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN ACCREDITED INVESTOR FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION
IN VIOLATION OF THE SECURITIES ACT AND (3) AGREES THAT IT 

  
 A-11 

 
WILL GIVE TO EACH PERSON OR ENTITY TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; PROVIDED, THAT THE ISSUER AND THE TRUSTEE SHALL HAVE
THE RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (2)(D) OF THIS PARAGRAPH TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE RESPECTIVE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE REFERRED TO HEREINAFTER CONTAINS A PROVISION REQUIRING THE REGISTRAR
APPOINTED THEREUNDER TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING RESTRICTIONS. 
 The following legend is to be inserted
if this Note is issued with original issue discount: THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT UNDER SECTIONS 1272 AND 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. FOR INFORMATION REGARDING THE ISSUE PRICE, THE AMOUNT OF ORIGINAL
ISSUE DISCOUNT, THE ISSUE DATE AND THE YIELD TO MATURITY FOR THIS NOTE, YOU SHOULD SUBMIT A WRITTEN REQUEST TO QUOTIENT LIMITED, ELIZABETH HOUSE, 9 CASTLE STREET, ST. HELIER, JE2 3RT JERSEY, CHANNEL ISLANDS. 

THIS NOTE MAY NOT BE RESOLD OR TRANSFERRED EXCEPT AS SET FORTH IN THE INDENTURE REFERRED TO HEREINAFTER, AND, IN ADDITION, EACH PERSON OR ENTITY THAT ACQUIRES
OR ACCEPTS THIS NOTE OR AN INTEREST HEREIN BY SUCH ACQUISITION OR ACCEPTANCE AGREES TO COMPLY WITH THE TRANSFER RESTRICTIONS SET FORTH IN SUCH INDENTURE, AND FURTHER ACKNOWLEDGES AND AGREES TO THE PROVISIONS SET FORTH IN SUCH INDENTURE. 

(ii) Each Global Security shall bear the following legend: 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON OR ENTITY IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREINAFTER.

  
 A-12 

 (g) Cancellation or Adjustment of Global Security. At such time as all
beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or
retained and canceled by the Trustee in accordance with Section 2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global
Security by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase.

 (h) Obligations with Respect to Transfers and Exchanges of Securities. 

(i) To permit registrations of transfers and exchanges, the Issuer shall execute, and the Trustee shall authenticate, Definitive Securities
and Global Securities at the Registrar’s request. 
 (ii) No service charge shall be made for any registration of transfer or exchange,
but the Issuer may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge payable
upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.04 of this Indenture). 
 (iii) Prior to the due presentation for registration of
transfer of any Security, the Issuer, the Trustee, a Paying Agent or the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and
interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Issuer, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

(iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be
entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 
 (i) No
Obligation of the Trustee. 
 (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security, a
member of, or a participant in, the Depository or any other Person with respect to the accuracy of the records of the Depository or of any participant or member thereof, with respect to any ownership interest in the Securities or with respect to the
delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under 

  
 A-13 

 
or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made to the
registered Holders (which shall be the Depository in the case of a Global Security). Except as may be otherwise permitted pursuant to Section 2.14 of the Indenture, the rights of beneficial owners in any Global Security shall be exercised only
through the Depository subject to the applicable rules and procedures of the Depository. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members, its participants and any
beneficial owners. 
 (ii) 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 Depository participants, members or beneficial owners 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. 

  
 A-14 

 EXHIBIT A 

{FORM OF SECURITY} 
 NEITHER THIS NOTE NOR ANY
INTEREST HEREIN HAS BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION, NOR IS SUCH REGISTRATION CONTEMPLATED. NEITHER
THIS NOTE NOR ANY INTEREST HEREIN MAY BE ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED, SOLD OR OFFERED FOR SALE OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EXEMPTION FROM SUCH REGISTRATION THEREUNDER AND ANY OTHER APPLICABLE SECURITIES LAW
REGISTRATION REQUIREMENTS. EACH PERSON OR ENTITY THAT ACQUIRES OR ACCEPTS THIS NOTE OR AN INTEREST HEREIN BY SUCH ACQUISITION OR ACCEPTANCE (1) REPRESENTS THAT (A) IT IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES
ACT) AND, IF SUBSEQUENT TO THE INITIAL ACQUISITION HEREOF, IS PURCHASING THIS NOTE IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT, (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN
COMPLIANCE WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT OR (C) IT IS AN ACCREDITED INVESTOR AS DEFINED IN SUBPARAGRAPH (a)(1), (a)(2), (a)(3) or (a)(7) OF RULE 501 UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”), HAS
SUFFICIENT KNOWLEDGE AND EXPERIENCE IN FINANCIAL AND BUSINESS MATTERS TO BE CAPABLE OF EVALUATING THE MERITS AND RISKS OF THE PURCHASE OF THIS NOTE AND IS ABLE AND PREPARED TO BEAR THE ECONOMIC RISK OF INVESTING IN AND HOLDING THIS NOTE, (2) AGREES
THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE OR AN INTEREST HEREIN, EXCEPT (A) TO THE ISSUER OR A SUBSIDIARY THEREOF, (B) FOR SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO AN ENTITY IT
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A UNDER THE SECURITIES
ACT, (C) TO PERSONS OR ENTITIES OTHER THAN U.S. PERSONS, INCLUDING DEALERS OR OTHER PROFESSIONAL FIDUCIARIES IN THE UNITED STATES ACTING ON A DISCRETIONARY BASIS FOR NON-U.S. BENEFICIAL OWNERS (OTHER THAN AN ESTATE OR TRUST), IN OFFSHORE
TRANSACTIONS IN RELIANCE UPON, AND IN ACCORDANCE WITH, REGULATION S UNDER THE SECURITIES ACT OR (D) TO AN ACCREDITED INVESTOR THAT IS PURCHASING THIS NOTE OR AN INTEREST HEREIN, AS THE CASE MAY BE, FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
ACCREDITED INVESTOR FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON OR ENTITY TO WHOM THIS NOTE OR AN
INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; PROVIDED, THAT THE ISSUER AND THE TRUSTEE SHALL HAVE THE 

  
 A-1 

 
RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (2)(D) OF THIS PARAGRAPH TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION OR OTHER INFORMATION SATISFACTORY TO
EACH OF THEM. THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE RESPECTIVE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE REFERRED TO HEREINAFTER CONTAINS A
PROVISION REQUIRING THE REGISTRAR APPOINTED THEREUNDER TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING RESTRICTIONS. 
 The
following legend is to be inserted if this Note is issued with original issue discount: THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT UNDER SECTIONS 1272 AND 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. FOR INFORMATION REGARDING THE
ISSUE PRICE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT, THE ISSUE DATE AND THE YIELD TO MATURITY FOR THIS NOTE, YOU SHOULD SUBMIT A WRITTEN REQUEST TO QUOTIENT LIMITED, ELIZABETH HOUSE, 9 CASTLE STREET, ST. HELIER, JE2 3RT JERSEY, CHANNEL ISLANDS. 

THIS NOTE MAY NOT BE RESOLD OR TRANSFERRED EXCEPT AS SET FORTH IN THE INDENTURE REFERRED TO HEREINAFTER, AND, IN ADDITION, EACH PERSON OR ENTITY THAT ACQUIRES
OR ACCEPTS THIS NOTE OR AN INTEREST HEREIN BY SUCH ACQUISITION OR ACCEPTANCE AGREES TO COMPLY WITH THE TRANSFER RESTRICTIONS SET FORTH IN SUCH INDENTURE, AND FURTHER ACKNOWLEDGES AND AGREES TO THE PROVISIONS SET FORTH IN SUCH INDENTURE. 

{Global Securities Legend} 
 UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON OR ENTITY IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREINAFTER. 

  
 A-2 

 {FORM OF SECURITY} 
  

			
	No.    	  	$        

 12% Senior Secured Note due 2023 

CUSIP No.     

ISIN No.     

Quotient Limited, a public limited liability no par value company formed under the laws of Jersey, Channel Islands (the “Issuer”),
promises to pay to {Cede & Co.}{                    }, or its registered assigns, the principal sum {of
$         Dollars} {listed on the Schedule of Increases or Decreases in Global Security attached hereto}1 on or before October 15, 2023 as set forth in this
Security. 
 Payment Dates: April 15 and October 15 (each, a “Payment Date”) 

Record Dates: April 1 and October 1 (each, a “Record Date”) 

Additional provisions of this Security are set forth on the following pages of this Security. 

 

	1 	Use the Schedule of Increases or Decreases language if Security is in Global Form. 

  
 A-3 

 IN WITNESS WHEREOF, the undersigned has caused this Instrument to be duly executed. 

 

					
	QUOTIENT LIMITED
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 F-1 

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	U.S. Bank National Association, as Trustee, certifies that this is one of the Securities
	referred to in the within-mentioned Indenture.
		
	By:	 	  

		 	Authorized Signatory
	
	Date: October 14, 2016

  
 A-2 

 12% Senior Secured Note due 2023 

 

	1.	Interest and Payments of Principal 

 (a) Quotient Limited, a public limited
liability no par value company formed under the laws of Jersey, Channel Islands (the “Issuer”), shall pay interest on the outstanding principal amount of this Security at the rate per annum shown above. 

(b) The Issuer shall pay interest semi-annually in arrears on each Payment Date, commencing April 15, 2017, or on the
succeeding Business Day if any such date is not a Business Day. Interest on this Security shall accrue on the outstanding principal amount thereof from the most recent date to which interest has been paid or duly provided for or, if no interest has
been paid or duly provided for, from October 14, 2016 (the “ Issue Date”) until the principal hereof is paid or duly provided for. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Issuer shall pay
interest on overdue principal at the rate borne by the Securities and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 

(c) The Securities will mature on October 15, 2023. 

(d) This Security is one of a series of Securities that may be authenticated and delivered for original issue under the
Indenture referred to below in an aggregate principal amount not to exceed $120,000,000, consisting of (i) an aggregate principal amount of $84,000,000 of Securities issued on the Issue Date (the “Original Securities”) and (ii) up to an
additional aggregate principal amount of $36,000,000 of Securities issuable thereafter in accordance with Section 2.01(c) of the Indenture (“Additional Securities”). On each Payment Date, commencing April 15, 2019, or on the succeeding
Business Day if any such date is not a Business Day, the Issuer shall pay an installment of principal of the Original Securities (subject to adjustment in accordance with the second following paragraph) in an amount set forth below corresponding to
such Payment Date: 
  

					
	 Payment Date
	  	Amount	 
		
	 April 15, 2019
	  	$	6,720,000	  
	 October 15, 2019
	  	$	6,720,000	  
	 April 15, 2020
	  	$	6,720,000	  
	 October 15, 2020
	  	$	7,560,000	  
	 April 15, 2021
	  	$	8,400,000	  
	 October 15, 2021
	  	$	8,400,000	  
	 April 15, 2022
	  	$	9,240,000	  
	 October 15, 2022
	  	$	9,240,000	  
	 April 15, 2023
	  	$	10,080,000	  
	 October 15, 2023
	  	$	10,920,000	  

 In addition, in the event that any Additional Securities are issued after the Issue Date in accordance with
Section 2.01(c) of the Indenture, on each Payment Date subsequent 

  
 A-3 

 
thereto, or on the succeeding Business Day if any such date is not a Business Day, the Issuer shall pay an installment of principal of such Additional Securities (subject to adjustment as
described in the following paragraph) in an amount equal to the amount obtained by multiplying the principal amount of such Additional Securities outstanding immediately prior to such payment by a fraction of which the numerator shall be the amount
of the installment of principal of the Original Securities corresponding to such Payment Date (as it may have been previously reduced in accordance with the following paragraph) and the denominator shall be the aggregate unpaid outstanding principal
balance of the Original Securities immediately prior to such payment. 
 In the event that there shall have been any partial redemption or
purchase of the Securities pursuant to Article 3 or Section 4.06 or 4.08 of the Indenture, each principal installment amount set forth above (as it may have been previously reduced in accordance with this paragraph) subsequent to such partial
redemption or purchase shall be reduced by an amount equal to the amount obtained by multiplying such principal installment amount as in effect immediately prior to such partial redemption or purchase by a fraction of which the numerator shall be
the aggregate principal amount of Securities redeemed or purchased pursuant to such partial redemption or purchase and the denominator shall be the aggregate unpaid outstanding principal balance of the Securities immediately prior to such partial
redemption or purchase. Any such reduction shall be made on a pro rata basis, as nearly as practicable, among the Holders of the Securities, subject, however, to the applicable procedures of DTC. 

 

	2.	Method of Payment 

 The Issuer shall pay interest on the Securities (except defaulted interest)
and payments of installments of principal to the Persons who are registered Holders at the close of business on the Record Date immediately preceding the related Payment Date even if Securities are canceled after such Record Date and on or before
such Payment Date (whether or not a Business Day). Holders must surrender Securities to the Paying Agent to collect principal payments (other than payments of installments of principal). The Issuer shall pay principal, premium, if any, and interest
in money of the United States of America that at the time of payment is legal tender for payment of public and private debts. {Payments in respect of the Securities (including principal, premium, if any, and interest) shall be made by wire transfer
of immediately available funds to the accounts specified by The Depository Trust Company or any successor depositary.}1 {The Issuer shall make all payments in respect of the Securities (including
principal, premium, if any, and interest) at the office of the Paying Agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each Holder thereof; provided,
however, that payments on the Securities may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United
States if such Holder elects payment by wire transfer by giving written notice to the Trustee or Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date
as the Trustee may accept in its discretion).}2 
  

	1 	Include in a Global Security. 

	2 	Include in a Definitive Security. 

  
 A-4 

	3.	Paying Agent and Registrar 

 Initially, U.S. Bank National Association (the “Trustee”)
will act as Paying Agent and Registrar. The Issuer or any of its Wholly Owned Restricted Subsidiaries may act as Paying Agent or Registrar. 
  

	4.	Indenture 

 The Issuer issued the Securities under the Indenture dated as of October 14, 2016
(the “Indenture”) among the Issuer, the guarantors that may be party thereto from time to time, the Trustee and the Collateral Agent. The terms of the Securities include those stated in the Indenture. Terms defined in the Indenture and not
defined herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and the Holders are referred to the Indenture for a statement of such terms and provisions. If and to
the extent that any provision of the Securities limits, qualifies or conflicts with a provision of the Indenture, such provision of the Indenture shall control. 

The Securities are senior secured obligations of the Issuer. This Security is one of the Securities referred to in the Indenture. The
Securities are treated as a single class of securities under the Indenture. The Indenture imposes certain limitations on the ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted
Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of the Issuer and
such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with
or into any other Person or convey, transfer or lease all or substantially all of their property. 
 To guarantee the due and punctual
payment of the principal of and interest on the Securities and all other amounts payable by the Issuer under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according
to the terms of the Securities and the Indenture, the Guarantors have, jointly and severally, irrevocably and unconditionally guaranteed the Guaranteed Obligations on a senior secured basis pursuant to the terms of the Indenture. 

 

	5.	Optional Redemption 

 The Issuer may redeem the Securities at its option, in whole at any time
or in part from time to time, on any Business Day specified by the Issuer prior to October 14, 2018 (the “First Call Date”), on not less than 30 days’ nor more than 60 days’ prior written notice delivered

  
 A-5 

 
to each Holder, at a redemption price equal to 100% of the principal amount of the Securities being redeemed plus the Applicable Premium, plus accrued and unpaid interest, if any, to the
redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Payment Date). 

The Issuer may redeem the Securities at its option, in whole at any time or in part from time to time, on any Business Day specified by the
Issuer on or after the First Call Date, on not less than 30 days’ nor more than 60 days’ prior written notice delivered to each Holder, at the following redemption prices (expressed as a percentage of outstanding principal amount of the
Securities being redeemed), plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Payment Date), for the following periods: 

 

					
	 Period
	  	Redemption Price	 
	 From and including the First Call Date to and including October 13, 2019
	  	 	112.00	% 
	 From and including October 14, 2019 to and including October 13, 2020
	  	 	106.00	% 
	 From and including October 14, 2020 to and including October 13, 2021
	  	 	103.00	% 
	 From and including October 14, 2021 and thereafter
	  	 	100.00	% 

 Notwithstanding the foregoing, in connection with any tender offer for all of the outstanding Securities at a
price of at least 100% of the principal amount of the Securities tendered, plus accrued and unpaid interest thereon to, but excluding, the applicable tender settlement date, if holders of not less than 90% in aggregate principal amount of the
outstanding Securities validly tender and do not withdraw such Securities in such tender offer and the Issuer, or any third party making such tender offer in lieu of the Issuer, purchases all of the Securities validly tendered and not withdrawn by
such holders, the Issuer or such third party will have the right upon not less than 15 nor more than 60 days’ prior notice to the Holders (with a copy to the Trustee), given not more than 30 days following such purchase date, to redeem all
Securities that remain outstanding following such purchase at a price equal to the price offered to each other holder in such tender offer plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon,
to, but excluding, the redemption date. 
 Notice of any redemption may, at the Issuer’s discretion, be subject to one or more
conditions precedent, including the receipt by the Trustee, on or prior to the redemption date, of money sufficient to pay the principal of, and premium, if any, and interest on, the Securities being redeemed. 

 

	6.	Notice of Redemption 

 Except as otherwise provided in paragraph 5, written notice of redemption
pursuant to paragraph 5 will be provided at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed. Securities in denominations larger than $1,000 may be redeemed in part but only in whole
multiples of $1,000. If money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with a Paying Agent on or before the redemption date
and certain other conditions are satisfied, on and after such date, interest ceases to accrue on such Securities (or such portions thereof) called for redemption. 

  
 A-6 

	7.	Sinking Fund 

 The Securities are not subject to any sinking fund. 

 

	8.	Repurchase of Securities at the Option of the Holders upon Change of Control and Asset Sales 

Upon the occurrence of a Change of Control, each Holder shall have the right, subject to certain conditions specified in the Indenture, to
cause the Issuer to repurchase all or any part of such Holder’s Securities at a purchase price in cash equal to 101% of the principal balance thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of
the Holders of record on the relevant Record Date to receive interest due on the related Payment Date), as provided in, and subject to the terms of, the Indenture. 

In accordance with, and subject to the terms of, Section 4.06 of the Indenture, the Issuer will be required to offer to purchase Securities
upon the occurrence of certain Asset Sale events. 
  

	9.	Security 

 The Securities will be secured by the Notes Collateral on the terms and subject to
the conditions set forth in the Indenture and the Security Documents. The Collateral Agent holds the Notes Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the Security Documents and the Intercreditor
Agreements. Each Holder, by accepting this Security, consents and agrees to the terms of the Security Documents (including the provisions providing for the foreclosure and release of Notes Collateral) and the Intercreditor Agreements as the same may
be in effect or may be amended from time to time in accordance with their terms and the Indenture and authorizes and directs each of the Trustee and the Collateral Agent to enter into the Security Documents and the Intercreditor Agreements, and to
perform its obligations and exercise its rights thereunder in accordance therewith. 
  

	10.	Denominations; Transfer; Exchange 

 The Securities are in registered form, without coupons, in
minimum denominations of $50,000 and any integral multiple of $1,000 in excess thereof. The registration of transfer of or exchange of Securities shall be done in accordance with the Indenture. Upon any registration of transfer or exchange, the
Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of
Securities to be redeemed. 
  

	11.	Persons Deemed Owners 

 Subject to Section 2.14 of the Indenture, the registered Holder of this
Security shall be treated as the owner of it for all purposes. 

  
 A-7 

	12.	Unclaimed Money 

 If money for the payment of principal or interest remains unclaimed for two
years, the Trustee and a Paying Agent shall pay the money back to the Issuer at its written request unless an abandoned property law designates another Person. After any such payment, the Holders entitled to the money must look to the Issuer for
payment as general creditors and the Trustee and Paying Agent shall have no further liability with respect to such monies. 
  

	13.	Discharge and Defeasance 

 Subject to certain conditions set forth in the Indenture, the Issuer
at any time may terminate some of or all its obligations under the Securities and the Indenture if the Issuer deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or
maturity, as the case may be. 
  

	14.	Amendment; Waiver 

 Subject to certain exceptions set forth in the Indenture, (x) the Indenture,
the Securities, the Guarantees, any Security Document or any Intercreditor Agreement may be amended or supplemented, and any provision thereof may be waived, with the written consent of the Holders of a majority in principal amount of the Securities
then outstanding (voting as a single class) and (y) any past default or compliance with any provisions of such documents may be waived with the written consent of the Holders of a majority in principal amount of the Securities then outstanding.
Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Issuer, the Collateral Agent, the Guarantors and the Trustee may amend or supplement the Indenture, the Securities, the Guarantees, any Security
Document or any Intercreditor Agreement (i) to cure any ambiguity, omission, mistake, defect or inconsistency; (ii) to provide for the assumption by a Successor Company of the obligations of the Issuer under the Indenture and the Securities in
accordance with the terms of the Indenture; (iii) to provide for the assumption by a Successor Guarantor of the obligations of a Guarantor under the Indenture and its Guarantee in accordance with the terms of the Indenture; (iv) to provide for
uncertificated Securities in addition to or in place of certificated Securities (provided however that the uncertificated Securities are issued in registered form for purposes of Sections 871(h)(2)(B) and 881(c)(2)(B) of the Code and United
States Treasury Regulation Section 5f.103-1(c)); (v) to add additional Guarantees with respect to the Securities and to release any Guarantor from its Guarantee in accordance with the terms of the Indenture; (vi) to add to the covenants of the
Issuer for the benefit of the Holders or to surrender any right or power conferred in the Indenture upon the Issuer; (vii) to evidence or provide for the acceptance of appointment under the Indenture of a successor trustee or a successor collateral
agent; (viii) to make any change that does not adversely affect the rights of any Holder in any material respect; (ix) to add additional assets as Notes Collateral to secure the Securities; (x) to release Notes Collateral from the Lien pursuant to
the Indenture, the Security Documents and the Intercreditor Agreements when permitted or required by the Indenture, the Security Documents or the Intercreditor Agreements; (xi) to modify the Security Documents or the Intercreditor Agreements (a) to
secure additional extensions of credit and add additional secured creditors holding First Priority Lien Obligations so long as such First Priority Lien Obligations are not prohibited by the provisions of the Indenture, (b) as provided for in
provisions comparable to Section 2.11(b) of the form of 

  
 A-8 

 
Intercreditor Agreement attached as Exhibit D to the Indenture or (c) to add the Issuer or any Guarantor as a party to any Intercreditor Agreement to the extent such party Incurs any Secured
Indebtedness that constitutes First Priority Lien Obligations in accordance with the terms of the Indenture or to remove the Issuer or any Guarantor as a party to any Intercreditor Agreement to the extent such party ceases to be bound by any and all
First Priority Lien Obligations; or (xii) to comply with the rules of any applicable securities depositary. 
  

	15.	Defaults and Remedies 

 If an Event of Default (other than an Event of Default relating to
certain events of bankruptcy, insolvency or reorganization with respect to the Issuer) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of outstanding Securities by notice to the Issuer may, and if such notice
is given by the Holders such notice shall be given to the Issuer and the Trustee, declare that the principal of, and the premium, if any, and accrued but unpaid interest on, all the Securities is due and payable. Upon such a declaration, such
principal and interest shall be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization with respect to the Issuer occurs, the principal of, and the premium, if any, and accrued but
unpaid interest on, all the Securities shall ipso facto become and be immediately due and payable, without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in
principal amount of the Securities may rescind any such acceleration with respect to the Securities and its consequences. 
 Except to
enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities unless (i) such Holder gives the Trustee written notice stating that an Event
of Default is continuing, (ii) the Holders of at least 25% in principal amount of the then outstanding Securities make a written request to the Trustee to pursue the remedy, (iii) such Holder or Holders offer to the Trustee security or indemnity
satisfactory to it against any loss, liability or expense, (iv) the Trustee does not comply with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in principal
amount of the then outstanding Securities do not give the Trustee a direction inconsistent with such request during such 60-day period. Subject to certain restrictions set forth in the Indenture, the Holders of a majority in principal amount of the
Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that
conflicts with law or the Indenture or, subject to the Indenture, that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to taking any action under the
Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

 

	16.	Trustee Dealings with the Issuer 

 Subject to certain limitations imposed by the Indenture, the
Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. 

  
 A-9 

	17.	No Recourse Against Others 

 No director, officer, employee, manager, member, partner,
incorporator or holder of any Equity Interests in the Issuer or in any Guarantor, as such, shall have any liability for any obligations of the Issuer or the Guarantors under the Securities, the Indenture, the Guarantees, the Security Documents or
the Intercreditor Agreements or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. 

 

	18.	Authentication 

 This Security shall not be valid until an authorized signatory of the Trustee
(or an authenticating agent) manually signs the certificate of authentication on this Security. 
  

	19.	Abbreviations 

 Customary abbreviations may be used in the name of a Holder or an assignee, such
as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 

	20.	Governing Law 

 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  

	21.	CUSIP Numbers; ISINs 

 The Issuer has caused CUSIP numbers and ISINs to be printed on the
Securities and has directed the Trustee to use CUSIP numbers and ISINs in notices (including notices of redemption) as a convenience to the Holders. No representation is made as to the correctness of such numbers either as printed on the Securities
or as contained in any notice and reliance may be placed only on the other identification numbers placed thereon. 
 The Issuer will
furnish to any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture, which has in it the text of this Security. 

  
 A-10 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. No.) 
 and irrevocably appoint
                                         agent to
transfer this Security on the books of the Issuer. The agent may substitute another to act for him or her. 
  

									
	Date:	 	  
	 		 	Your Signature:	 	  

 Sign exactly as your name appears on this Security. 
  

			
	Signature Guarantee:	  	  

  

							
	Date:	 	  
	 		 	  

	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		 	Signature of Signature Guarantee

  
 A-11 

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFER OF RESTRICTED SECURITIES 

This certificate relates to $         principal amount of Securities held in (check applicable space)
     book-entry or      definitive form by the undersigned. 
 The undersigned (check one box below): 

 

			
	☐	  	has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of authorized denominations and an
aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above);
		
	☐	  	has requested the Trustee by written order to exchange or register the transfer of a Security or Securities.

 In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of
the period referred to in Rule 144(d)(1) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: 

CHECK ONE BOX BELOW 
  

					
	(1)	 	☐	 	to the Issuer or a Subsidiary thereof; or
			
	(2)	 	☐	 	to the Registrar for registration in the name of the Holder, without transfer; or
			
	(3)	 	☐	 	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	(4)	 	☐	 	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom
notice is given that such transfer is being made in reliance on such Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	(5)	 	☐	 	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Security shall be held immediately after the
transfer through Euroclear or Clearstream until the expiration of the Restricted Period; or
			
	(6)	 	☐	 	to an “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements and, if
applicable, an Opinion of Counsel; or
			
	(7)	 	☐	 	pursuant to another available exemption from registration provided by Rule 144 under the Securities Act of 1933.

  
 A-12 

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Issuer or the Trustee may require, prior to registering any such transfer
of the Securities, such legal opinions, certifications and other information as the Issuer or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933. 
  

									
	Date:	 	  
	 		 	Your Signature:	 	  

					
	Signature Guarantee:	 	  
	 		 		 	

  

							
	Date:	 	  
	 		 	  

	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		 	Signature of Signature Guarantee

  
  

  
 A-13 

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on such
Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to such Rule 144A or has determined not to request such information and that it is aware that the transferor is relying
upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by such Rule 144A. 
  

			
	Dated:	 	  

 NOTICE: To be executed by an executive officer     

  
 A-14 

 {TO BE ATTACHED TO GLOBAL SECURITIES} 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The initial principal amount of this Global Security is $        . The following increases or
decreases in this Global Security have been made: 
  

																	
	 Date
	  	Amount of decrease in
Principal Amount of this
Global Security	 	  	Amount of increase in
Principal Amount of this
Global Security	 	  	Principal amount of this
Global Security following
such decrease or increase	 	  	Signature of authorized
signatory of Trustee or
Securities Custodian	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  
 A-15 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Issuer pursuant to Section 4.06 (Asset Sale) or 4.08 (Change of Control) of the
Indenture, check the box: 
  

			
	Asset Sale  ☐	 	Change of Control  ☐

 If you want to elect to have only part of this Security purchased by the Issuer pursuant to Section 4.06
(Asset Sale) or 4.08 (Change of Control) of the Indenture, state the amount ($1,000 or any integral multiple of $1,000 in excess thereof): 

$         
  

									
	Date:	 	  
	 		 	Your Signature:	 	  

		 		 		 		 	(Sign exactly as your name appears on this Security)

									
					
	Signature Guarantee:	 	  
	 		 		 	

									
					
		 	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		 		 	
					
		 	SECTION 1.01. 	 		 		 	

  
 A-16EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

PURCHASE AGREEMENT 

dated October 14, 2016 

among 
 QUOTIENT
LIMITED, 
 THE SUBSIDIARY GUARANTORS NAMED HEREIN 

and 
 THE PURCHASER
NAMED HEREIN 
 $120,000,000 12% SENIOR SECURED NOTES DUE 2023 

 Table of Contents 
  

							
	 	  	 	  	Page	 
	
	ARTICLE I	  
	INTRODUCTORY	  
			
	 Section 1.1
	  	Introductory	  	 	1	  
	
	ARTICLE II	  
	RULES OF CONSTRUCTION AND DEFINED TERMS	  
			
	 Section 2.1
	  	Rules of Construction and Defined Terms	  	 	1	  
	
	ARTICLE III	  
	SALE AND PURCHASE OF NOTES; CLOSINGS; ALLOCATION OF PURCHASE PRICE	  
			
	 Section 3.1
	  	Sale and Purchase of Notes; Closings	  	 	1	  
	 Section 3.2
	  	Allocation of Purchase Price	  	 	3	  
	
	ARTICLE IV	  
	REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF PURCHASER	  
			
	 Section 4.1
	  	Purchase for Investment and Restrictions on Resales	  	 	4	  
	 Section 4.2
	  	Purchaser Status	  	 	5	  
	 Section 4.3
	  	Source of Funds; ERISA Matters	  	 	5	  
	 Section 4.4
	  	Due Diligence	  	 	7	  
	 Section 4.5
	  	Enforceability of this Purchase Agreement	  	 	7	  
	 Section 4.6
	  	Confidentiality Agreement	  	 	7	  
	 Section 4.7
	  	Tax Matters	  	 	8	  
	 Section 4.8
	  	Reliance for Opinions	  	 	8	  
	
	ARTICLE V	  
	REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS	  
			
	 Section 5.1
	  	Securities Laws	  	 	8	  
	 Section 5.2
	  	Investment Company Act Matters	  	 	9	  
	 Section 5.3
	  	Use of Proceeds; Margin Regulations	  	 	9	  
	 Section 5.4
	  	Exchange Act Documents	  	 	9	  
	 Section 5.5
	  	Financial Statements	  	 	9	  
	 Section 5.6
	  	Organization; Power; Authorization; Enforceability	  	 	10	  
	 Section 5.7
	  	Equity Interests; Ownership Structure	  	 	10	  
	 Section 5.8
	  	Governmental and Third Party Authorizations	  	 	10	  
	 Section 5.9
	  	No Conflicts	  	 	11	  
	 Section 5.10
	  	No Violation or Default	  	 	11	  
	 Section 5.11
	  	No Material Adverse Change	  	 	12	  
	 Section 5.12
	  	Compliance with ERISA	  	 	12	  
	 Section 5.13
	  	Tax Matters	  	 	13	  

  
 i 

							
	 Section 5.14
	  	Legal Proceedings	  	 	13	  
	 Section 5.15
	  	Solvency	  	 	13	  
	 Section 5.16
	  	Existing Indebtedness	  	 	13	  
	 Section 5.17
	  	Material Contracts	  	 	13	  
	 Section 5.18
	  	Properties	  	 	14	  
	 Section 5.19
	  	Intellectual Property	  	 	14	  
	 Section 5.20
	  	Environmental Matters	  	 	16	  
	 Section 5.21
	  	Labor Matters	  	 	16	  
	 Section 5.22
	  	Insurance	  	 	16	  
	 Section 5.23
	  	No Unlawful Payments	  	 	17	  
	 Section 5.24
	  	Compliance with Anti-Money Laundering Laws	  	 	17	  
	 Section 5.25
	  	Compliance with OFAC	  	 	17	  
	 Section 5.26
	  	Disclosure Controls	  	 	18	  
	 Section 5.27
	  	Accounting Controls	  	 	18	  
	 Section 5.28
	  	Licenses and Permits	  	 	18	  
	 Section 5.29
	  	No Immunity	  	 	19	  
	 Section 5.30
	  	Feasibility Studies	  	 	19	  
	 Section 5.31
	  	Health Care Laws	  	 	19	  
	 Section 5.32
	  	Regulatory Filings	  	 	20	  
	 Section 5.33
	  	Security Documents	  	 	21	  
	
	ARTICLE VI	  
	CONDITIONS TO CLOSING	  
			
	 Section 6.1
	  	Obligors’ Counsel Opinion	  	 	21	  
	 Section 6.2
	  	Purchasers’ Counsel Opinions	  	 	21	  
	 Section 6.3
	  	Certification as to Purchase Agreement and Collateral Agreement	  	 	22	  
	 Section 6.4
	  	Authorizations	  	 	22	  
	 Section 6.5
	  	Offering of Notes and Royalty Rights	  	 	23	  
	 Section 6.6
	  	CUSIP Numbers	  	 	23	  
	 Section 6.7
	  	Further Information	  	 	23	  
	 Section 6.8
	  	Consummation of Transactions	  	 	23	  
	 Section 6.9
	  	No Actions	  	 	24	  
	 Section 6.10
	  	Consents	  	 	24	  
	 Section 6.11
	  	Notes Collateral Requirements	  	 	24	  
	 Section 6.12
	  	Insurance	  	 	24	  
	 Section 6.13
	  	Use of Proceeds	  	 	24	  
	 Section 6.14
	  	Royalty Rights	  	 	25	  
	
	ARTICLE VII	  
	ADDITIONAL COVENANTS	  
			
	 Section 7.1
	  	DTC	  	 	25	  
	 Section 7.2
	  	Expenses	  	 	25	  
	 Section 7.3
	  	Confidentiality; Public Announcement	  	 	25	  
	 Section 7.4
	  	Channel Islands Listing	  	 	26	  

  
 ii 

							
	ARTICLE VIII	  
	SURVIVAL OF CERTAIN PROVISIONS	  
			
	 Section 8.1
	  	Survival of Certain Provisions	  	 	26	  
	
	ARTICLE IX	  
	NOTICES	  
			
	 Section 9.1
	  	Notices	  	 	27	  
	
	ARTICLE X	  
	SUCCESSORS AND ASSIGNS	  
			
	 Section 10.1
	  	Successors and Assigns	  	 	27	  
	
	ARTICLE XI	  
	SEVERABILITY	  
			
	 Section 11.1
	  	Severability	  	 	27	  
	
	ARTICLE XII	  
	WAIVER OF JURY TRIAL	  
			
	 Section 12.1
	  	WAIVER OF JURY TRIAL	  	 	28	  
	
	ARTICLE XIII	  
	GOVERNING LAW; CONSENT TO JURISDICTION	  
			
	 Section 13.1
	  	Governing Law; Consent to Jurisdiction	  	 	28	  
	
	ARTICLE XIV	  
	COUNTERPARTS	  
			
	 Section 14.1
	  	Counterparts	  	 	28	  
	
	ARTICLE XV	  
	TABLE OF CONTENTS AND HEADINGS	  
			
	 Section 15.1
	  	Table of Contents and Headings	  	 	28	  
	
	ARTICLE XVI	  
	TAX DISCLOSURE	  
			
	 Section 16.1
	  	Tax Disclosure	  	 	28	  
		
	 Annex A
	  	 Rules of Construction and Defined Terms
	   

		
	 Exhibit A
	  	 Form of Royalty Right Agreement
	   

  
 iii 

			
	Schedule 1	  	Purchaser
	Schedule 2	  	Confidentiality Agreement
	Schedule 5.7	  	Equity Interests; Ownership Structure
	Schedule 5.8	  	Governmental and Third Party Authorizations
	Schedule 5.19	  	Intellectual Property

  
 iv 

 PURCHASE AGREEMENT 

October 14, 2016 
 To the Purchaser named in
Schedule 1 
 Ladies and Gentlemen: 

Quotient Limited, a public limited liability company formed under the Laws of Jersey, Channel Islands (the “Issuer”), and the
Subsidiaries of the Issuer named on the signature pages hereto (the “Subsidiary Guarantors”), hereby covenant and agree with you as follows: 

ARTICLE I 

INTRODUCTORY 

Section 1.1    Introductory. The Issuer proposes, subject to the terms and conditions stated herein, to issue and
sell to the purchaser named in Schedule 1 (the “Purchaser”) and to the Other Purchasers up to $120,000,000 in aggregate principal amount of the Issuer’s 12% Senior Secured Notes due 2023. The principal amounts of Notes to be purchased
by the Purchaser pursuant to this Purchase Agreement are set forth opposite the Purchaser’s name in Schedule 1. The Notes to be sold to the Purchaser and the Other Purchasers are to be issued on the applicable Closing Date pursuant to, and
subject to the terms and conditions of, the Indenture. 
 The Notes and the Guarantees will be offered and sold to the Purchaser and the
Other Purchasers (collectively, the “Purchasers”), and the Royalty Rights will be offered and sold to the Purchasers or Affiliates of the Purchasers, in transactions exempt from the registration requirements of the Securities Act.

 ARTICLE II 

RULES OF CONSTRUCTION AND DEFINED TERMS 

Section 2.1    Rules of Construction and Defined Terms. The rules of construction set forth in Annex A shall apply
to this Purchase Agreement and are hereby incorporated by reference into this Purchase Agreement as if set forth fully in this Purchase Agreement. Capitalized terms used but not otherwise defined in this Purchase Agreement shall have the respective
meanings given to such terms in Annex A, which is hereby incorporated by reference into this Purchase Agreement as if set forth fully in this Purchase Agreement. 

ARTICLE III 
 SALE
AND PURCHASE OF NOTES; CLOSINGS; ALLOCATION OF PURCHASE PRICE 
 Section 3.1    Sale and Purchase of
Notes; Closings. On the basis of the representations and warranties contained in, and subject to the terms and conditions of, this Purchase Agreement and the Indenture, the Issuer will issue and sell to the Purchaser, and the Purchaser
will purchase, (a) on the Issue Date, the principal amount of Original Notes set forth opposite the Purchaser’s name in Schedule 1, and (b) on a date selected by the Issuer that is within 10 Business Days from the occurrence of the
Additional Securities Triggering Event (but not during the period between 

  
 1 

 
the day immediately after the relevant Record Date immediately preceding the next related Payment Date and such Payment Date, unless the entire such 10 Business Day period following the
Additional Securities Triggering Event is within such period, in which case, on the Business Day immediately following such Payment Date), and only upon no less than five Business Days’ written notice by the Issuer to the Trustee and the
Purchaser (the “Subsequent Closing Date”), the principal amount of Additional Notes set forth opposite the Purchaser’s name in Schedule I. It is acknowledged and agreed that Additional Notes shall not be issued, and the
Subsequent Closing Date shall not occur, if the Additional Securities Triggering Event has not occurred. The Purchaser will purchase the applicable principal amount of Original Notes set forth in Schedule 1 on the Issue Date at a purchase price
equal to 100% of the principal amount thereof (the “Original Notes Price”), and the Purchaser will purchase the applicable principal amount of Additional Notes set forth in Schedule 1 on the Subsequent Closing Date at a purchase
price equal to 100% of the principal amount thereof, plus accrued and unpaid interest from the Issue Date or, if interest has already been paid on the Original Notes, from the date interest was most recently paid on the Original Notes to but
excluding the Subsequent Closing Date (but, as to such interest, only to the extent such Additional Notes have the same CUSIP number as the Original Notes) (the “Additional Notes Price” and, collectively with the Original Notes
Price, the “Price”). Contemporaneously with entering into this Purchase Agreement, the Obligors are entering into separate purchase agreements (the “Other Agreements”) substantially identical to this Purchase
Agreement with other purchasers (the “Other Purchasers”), providing for the sale on the Issue Date to each of the Other Purchasers of the applicable Original Notes in the applicable principal amounts specified opposite its name in Schedule
1 to such Other Agreement, at a purchase price equal to 100% of the principal amounts thereof, and the sale on the Subsequent Closing Date to each of the Other Purchasers of the applicable Additional Notes in the applicable principal amounts
specified opposite its name in Schedule 1 to such Other Agreement, at a purchase price equal to 100% of the principal amounts thereof, plus accrued and unpaid interest from the Issue Date or, if interest has already been paid on the Original Notes,
from the date interest was most recently paid on the Original Notes to but excluding the Subsequent Closing Date (but, as to such interest, only to the extent such Additional Notes have the same CUSIP number as the Original Notes) (the purchase
prices to be paid pursuant to such Other Agreements are collectively referred to, together with the Price, as the “Purchase Price”). The Issuer shall not be obligated to deliver, and no Purchaser shall be required to purchase, any
of the Original Notes except upon delivery of and payment for all the Original Notes to be purchased by the Purchasers under the Purchase Agreements on the Issue Date and subject to the satisfaction or waiver of the respective terms and conditions
hereunder and thereunder. 
 On the applicable Closing Date, the Issuer will deliver one or more Global Securities for the account of DTC,
as well as any Definitive Securities to the relevant Purchasers, evidencing the aggregate principal amount of Notes to be acquired by all Purchasers pursuant to the Purchase Agreements on such Closing Date. On the applicable Closing Date, the Issuer
will deliver the Global Securities to DTC, as well as any Definitive Securities to the relevant Purchasers, against payment by each such Purchaser of its respective portion of the applicable aggregate Purchase Price for its beneficial interest
therein by wire transfer of immediately available funds to the Trustee Closing Account. The Issuer shall cause U.S. Bank National Association, as trustee under the Indenture (the “Trustee”), to hold all such funds in trust for the
Purchasers pending completion of the applicable closing of the transactions contemplated by the Purchase Agreements. Upon receipt by the Trustee of the applicable Purchase Price and the 

  
 2 

 
satisfaction of the applicable conditions to closing set forth in Article VI in respect of the related Closing Date, the Issuer shall cause the Trustee to disburse the applicable Purchase Price
in accordance with written instructions provided by the Issuer to the Trustee. If the applicable aggregate Purchase Price shall not have been received by the Trustee by 3:30 p.m. (New York City time) on the Issue Date, or if the closing of the
transactions contemplated by the Purchase Agreements shall not otherwise be capable of being consummated by 3:30 p.m. (New York City time) on the Issue Date, then the Trustee shall return, and the Issuer shall cause the Trustee to return, such
portion of the applicable Purchase Price to such Purchaser prior to the close of business on the Issue Date or as soon thereafter as reasonably practicable, in which case such Purchaser shall, at its election, be relieved of all obligations (other
than confidentiality obligations) under the applicable Purchase Agreement. 
 Section 3.2    Allocation of Purchase
Price. The Issuer and the Purchaser hereby acknowledge and agree that the Notes issued to the Purchaser and the Royalty Right sold by the Issuer to the Purchaser (or its Affiliates) on the Issue Date constitute an “investment unit” for
purposes of Section 1273(c)(2) of the Code. In accordance with Section 1273(b)(2) of the Code and Section 1273(c)(2)(A) of the Code, the issue price of the investment unit is 100% of the principal amount of such Notes. Allocating that issue price
between such Notes and such Royalty Right based on their relative fair market values, as required by Section 1273(c)(2)(B) of the Code and U.S. Treasury Regulations Section 1.1273-2(h)(1), results in
(a) such Notes having an issue price of 89.36% of the principal amount of such Notes and (b) such Royalty Right having a purchase price of 10.64% of the principal amount of such Notes. The Issuer and the Purchaser agree to prepare their
respective U.S. federal income tax returns, including statements and reports related thereto, as the case may be, in a manner consistent with the foregoing agreement, to the extent such returns, statements and reports are required to be filed. 

The Issuer and the Purchaser hereby acknowledge and agree that the Notes to be issued to the Purchaser and the Royalty Right to be sold by the
Issuer to the Purchaser (or its Affiliates) on the Subsequent Closing Date will constitute an “investment unit” for purposes of Section 1273(c)(2) of the Code. In accordance with Section 1273(b)(2) of the Code and Section 1273(c)(2)(A) of
the Code, the issue price of the investment unit will be 100% of the principal amount of such Notes (excluding, in the event the Additional Notes to be issued on the Subsequent Closing Date would be part of a “qualified reopening” for U.S.
federal income tax purposes with the Original Notes sold on the Issue Date, any accrued and unpaid interest payable in respect of the Additional Notes). The allocation of that issue price between such Notes and such Royalty Right will be based on
their relative fair market values on the Subsequent Closing Date, as required by Section 1273(c)(2)(B) of the Code and U.S. Treasury Regulations Section 1.1273-2(h)(1). Such allocation shall be set forth in
the Royalty Right Agreement entered into on the Subsequent Closing Date. The Issuer and the Purchaser agree to prepare their respective U.S. federal income tax returns, including statements and reports related thereto, as the case may be, in a
manner consistent with the foregoing agreement, to the extent such returns, statements and reports are required to be filed. 

  
 3 

 ARTICLE IV 

REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF PURCHASER 

The Purchaser agrees and acknowledges that (a) the Obligors and counsel to the Obligors may rely upon the accuracy of and performance of
obligations under the representations, warranties and agreements of the Purchaser contained in this Article IV and (b) the Placement Agent may rely upon the accuracy of and performance of obligations under the representations, warranties and
agreements of the Purchaser contained in Sections 4.1, 4.2 and 4.4. 
 Section 4.1    Purchase for Investment and
Restrictions on Resales. The Purchaser (on behalf of itself or any Affiliate thereof purchasing the Royalty Rights): 

(a)    acknowledges that (i) none of the Notes, the Royalty Rights or the Guarantees have been or will be registered
under the Securities Act or the Laws of any U.S. state or other jurisdiction relating to securities matters and (ii) neither the Notes nor the Royalty Rights may be offered, sold, pledged or otherwise transferred except as set forth in the
Transaction Documents and the legend regarding transfers on the Notes; 
 (b)    agrees that, if it should resell or
otherwise transfer the Notes, in whole or in part, it will do so only pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act, the Laws of any applicable state or other jurisdiction relating to
securities matters and in accordance with the restrictions and requirements of the provisions of the Transaction Documents, the Confidentiality Agreement to which it is a party and the legend regarding transfers on the Notes and only to a Person
whom it reasonably believes, at the time any buy order for such Notes is originated, is (i) the Issuer or a Subsidiary of the Issuer, (ii) for so long as such Notes are eligible for resale pursuant to Rule 144A, a QIB that purchases for its own
account or for the account of a QIB, to whom notice is given that the transfer is being made in reliance on Rule 144A, (iii) a Person outside the United States in an offshore transaction in compliance with Rule 903 or 904 of Regulation S (if
available) or (iv) an Accredited Investor that is purchasing such Notes for its own account or for the account of such an Accredited Investor for investment purposes and not with a view to, or for offer or sale in connection with, any distribution
in violation of the Securities Act, in each case unless consented to by the Issuer in writing; 
 (c)    agrees not to
make available or disclose any Information (as defined in the Confidentiality Agreement attached to Schedule 2) to any Person to whom the Purchaser intends to transfer (or any prospective purchaser of) the Notes or the Royalty Rights until
such intended transferee executes and delivers a Confidentiality Agreement (and the parties hereto acknowledge and agree that the Purchaser and its Affiliates shall not be liable in respect of the actions or omissions to act of any Person to whom
the Purchaser intends to transfer (or any prospective purchaser of) the Notes or the Royalty Rights that is provided after such Person executes and delivers such Confidentiality Agreement); 

(d)    acknowledges the restrictions and requirements contained in the Transaction Documents applicable to transfers of
the Notes and Royalty Rights and the legend regarding transfers on the Notes and agrees that it will only offer or sell the Notes and the Royalty Rights in accordance with such restrictions and requirements; and 

  
 4 

 (e)    represents that it is purchasing the Notes for investment purposes and
not with a view to resale or distribution thereof in contravention of the requirements of the Securities Act; however, the Purchaser reserves the right to sell the Notes at any time in accordance with applicable Laws, the restrictions and
requirements contained in the Transaction Documents applicable to transfer of the Notes, the legend regarding transfer of the Notes and its investment objectives. 

Section 4.2    Purchaser Status. The Purchaser (on behalf of itself or any Affiliate thereof purchasing the Royalty
Rights) represents and warrants that, as of the date hereof, (a) if it is purchasing a Rule 144A Global Security (as defined in the Indenture) or would purchase a Rule 144A Global Security except that it cannot or opts not to hold a beneficial
interest in a Global Security (as defined in the Indenture), it is a QIB and is purchasing the Notes and the Royalty Rights for its own account or for the account of a QIB, (b) if it is purchasing a Regulation S Global Security (as defined in
the Indenture) or would purchase a Regulation S Global Security except that it cannot or opts not to hold a beneficial interest in a Global Security, it is a Person outside the United States purchasing the Notes and the Royalty Rights in an offshore
transaction in compliance with Regulation S or (c) if neither clause (a) or clause (b) is applicable, it is an Accredited Investor. 

Section 4.3    Source of Funds; ERISA Matters. 

(a)    The Purchaser (on behalf of itself or any Affiliate thereof purchasing the Royalty Rights) represents, warrants and
covenants that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser (or such Affiliate) to pay the purchase price of any Note or Royalty Rights
to be purchased by such Purchaser (or such Affiliate) under the Transaction Documents and with respect to its holding of such Note or such Royalty Rights: 

(i)    the Source either (A) does not and will not include Plan Assets of any employee benefit plan,
other than a plan exempt from the coverage of ERISA, or (B) includes and will include only assets that are not considered Plan Assets by reason of being held in a separate account of an insurance company that is maintained solely in connection with
fixed contractual obligations of the insurance company under which the amounts payable, or credited, to the plan and to any participant or beneficiary of the plan (including an annuitant) are not affected in any manner by the investment performance
of the separate account; 
 (ii)    the Source is a governmental plan; or 

(iii)    the Source does include Plan Assets of an employee benefit plan subject to ERISA, but the use of
such Plan Assets to purchase and hold one or more Notes or Royalty Rights will not constitute a non-exempt prohibited transaction within the meaning of Section 406 or 407 of ERISA or Section 4975 of
the Code, and one of the following applies: 
 (w)    (A) the Source is an “insurance company
general account” within the meaning of United States Department of Labor Prohibited 

  
 5 

 
Transaction Exemption (“PTE”) 95-60 (issued July 12, 1995, as subsequently amended), (B) there is no employee benefit plan, treating
as a single plan, all plans maintained by the same employer or employee organization, with respect to which the amount of the general account reserves and liabilities for all contracts held by or on behalf of such plan exceeds ten percent (10%) of
the total reserves and liabilities of such general account (exclusive of separate account liabilities) plus surplus, as set forth in the NAIC Annual Statement filed with the Purchaser’s state of domicile and (C) the purchase and holding of
Notes or Royalty Rights is exempt under the provisions of PTE 95-60; 

(x)    the Source is either (A) an insurance company pooled separate account, within the meaning of
PTE 90-1 (issued January 29, 1990), or (B) a bank collective investment fund, within the meaning of PTE 91-38 (issued July 12, 1991, as subsequently amended),
and no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than ten percent (10%) of all assets allocated to such pooled separate account or collective investment fund, and the
purchase and holding of Notes or Royalty Rights is covered by either PTE 90-1 or 91-38, as applicable; 

(y)    the Source constitutes assets of an “investment fund” (within the meaning of Part VI of
the QPAM Exemption) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM Exemption), and the conditions of Part I of the QPAM Exemption are satisfied; or 

(z)     the Source constitutes assets of a “plan(s)” (within the meaning of Part IV of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV of the INHAM Exemption),
and the conditions of Part I of the INHAM Exemption are satisfied. 
 As used in this Section 4.3(a), the terms “employee benefit plan”,
“governmental plan” and “separate account” shall have the respective meanings assigned to such terms in Section 3 of ERISA. 

(b)    The Purchaser (on behalf of itself or any Affiliate thereof purchasing the Royalty Rights) represents, warrants and
covenants that, if any Source to be used by the Purchaser to pay the purchase price of any Note or Royalty Rights under the Transaction Documents consists of assets of a benefit plan that is not subject to ERISA, either (i) such benefit plan is not
a governmental plan, non-U.S. plan (as described in Section 4(b) of ERISA), church plan or other plan subject to Law that is substantially similar to Section 406 or 407 of ERISA or Section 4975 of
the Code (“Similar Law”) or (ii) its purchase and holding of Notes and Royalty Rights will not constitute a violation of Similar Law. 

  
 6 

 (c)    The Purchaser (on behalf of itself or an Affiliate thereof purchasing
the Royalty Rights) acknowledges and agrees that none of the Issuer, the Subsidiary Guarantors, nor any of their Affiliates have provided any advice or recommendation with respect to the advisability of acquiring, holding, disposing or exchanging of
the Notes or the Royalty Rights. 
 Section 4.4    Due Diligence. The Purchaser (on behalf of itself or any
Affiliate thereof purchasing the Royalty Rights) acknowledges that, prior to the Issue Date, (a) it has made, either alone or together with its advisors, such separate and independent investigation of the Obligors and their respective
businesses, financial condition, prospects and managements as the Purchaser deems to be, or such advisors have advised to be, necessary or advisable in connection with the purchase of the Notes and the Royalty Rights pursuant to the transactions
contemplated by this Purchase Agreement, (b) it and its advisors have received all information and data that it and such advisors believe to be necessary in order to reach an informed decision as to the advisability of the purchase of the Notes
and the Royalty Rights pursuant to the transactions contemplated by this Purchase Agreement, (c) it understands the nature of the potential risks and potential rewards of the purchase of the Notes and the Royalty Rights, (d) it is a
sophisticated investor with investment experience and has the ability to bear complete loss of its investment, whether as a result of an Event of Default on the Notes or any insolvency, liquidation or winding up of any Obligor or otherwise, and (e)
it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of purchasing the Notes and the Royalty Rights and can bear the economic risks of investing in the Notes and the Royalty
Rights for an indefinite period of time, including the complete loss of its investment. The Purchaser acknowledges that it has obtained its own attorneys, business advisors and tax advisors as to legal, business and tax advice (or has decided not to
obtain such advice) and has not relied in any respect on any Obligor or the Placement Agent for such advice. The Purchaser has had a reasonable time prior to the Issue Date to ask questions and receive answers concerning the Obligors and their
business and the terms and conditions of the offering of the Notes and the Royalty Rights and the transactions contemplated hereby and to obtain any additional information that the Obligors possess or could acquire without unreasonable effort or
expense, and has generally such knowledge and experience in business and financial matters and with respect to investments in securities as to enable such Purchaser to understand and evaluate the risks of such investment and form an investment
decision with respect thereto. Except for (i) the representations, warranties and covenants made by the Obligors in the Transaction Documents and (ii) the legal opinions provided to the Purchasers in connection with the transactions
contemplated by the Transaction Documents, the Purchaser is relying on its own investigation and analysis in entering into the transactions contemplated hereby. 

Section 4.5    Enforceability of this Purchase Agreement. This Purchase Agreement has been duly authorized,
executed and delivered by the Purchaser and constitutes the valid, legally binding and enforceable obligation of the Purchaser, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar Laws
affecting creditors’ rights generally and by general principles of equity. 
 Section 4.6    Confidentiality
Agreement. The Purchaser acknowledges and agrees that it is bound by the terms and conditions of the Confidentiality Agreement attached to Schedule 2 (including, if the Purchaser is not a party thereto, as if it were a party thereto), agrees to
execute any documents reasonably requested by the Issuer to evidence such obligation and acknowledges 

  
 7 

 
and agrees that such Confidentiality Agreement remains in effect and will survive the execution and delivery of this Purchase Agreement and the closing or closings of the purchases of the Notes
and the Royalty Rights pursuant to their respective terms. 
 Section 4.7    Tax Matters. 

(a)    Except as otherwise required by Law, the Purchaser agrees to treat, and shall treat, the Notes as indebtedness of
the Issuer for U.S. federal income tax purposes. 
 (b)    The Purchaser understands and acknowledges that if Definitive
Securities are issued, the Purchaser must provide, the Trustee or any Paying Agent with the applicable U.S. federal income tax certifications (generally, on IRS Form W-9 (or successor applicable form) in the
case of a Person that is a United States person (for purposes of this Section 4.7(b) within the meaning of Section 7701(a)(30) of the Code) or on an appropriate IRS Form W-8 (or successor applicable form) in
the case of a Person that is not a United States person). 
 (c)    The Purchaser (on behalf of itself or any Affiliate
thereof purchasing the Royalty Rights) represents and warrants that (i) it has not relied upon any Obligor or the Placement Agent for any tax advice or disclosure of tax consequences arising from the purchase, ownership or disposition of the
Notes and the Royalty Rights and (ii) it has relied upon its own tax counsel or advisors with respect to any tax consequences arising from the purchase, ownership or disposition of the Notes and the Royalty Rights. 

Section 4.8    Reliance for Opinions. The Purchaser acknowledges and agrees that the Obligors and, for purposes of
the opinions to be delivered to the Purchaser pursuant to Sections 6.1 and 6.2, counsel for the Obligors and counsel for the Purchasers, respectively, may rely, without any independent verification thereof, upon the accuracy of the representations
and warranties of the Purchaser, and compliance by the Purchaser with its agreements, contained in Sections 4.1, 4.2 and 4.3, and the Purchaser hereby consents to such reliance. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS 

Each Obligor, jointly and severally, represents and warrants to the Purchaser as of the date hereof as follows: 

Section 5.1    Securities Laws. 

(a)    No securities of the same class (within the meaning of Rule 144A(d)(3)(i) under the Securities Act) as the Notes,
the Guarantees or the Royalty Rights have been issued and sold by any Obligor within the six-month period immediately prior to the date hereof. 

(b)    Assuming the accuracy of the representations and warranties of the Purchasers in each of the Purchase Agreements
and assuming the accuracy of the statements in the certificate to be delivered by the Placement Agent pursuant to Section 6.5, neither such Obligor nor any affiliate (as defined in Rule 144 under the Securities Act) of such Obligor has
directly, or through any agent, (i) sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of any security (as defined in the Securities Act) that is or will be integrated

  
 8 

 
with the sale of the Notes, the Guarantees or the Royalty Rights in a manner that would require the registration under the Securities Act of the Notes, the Guarantees or the Royalty Rights,
(ii) engaged in any form of general solicitation or general advertising in connection with the offering of the Notes, the Guarantees or the Royalty Rights (as those terms are used in Regulation D under the Securities Act), or in any manner
involving a public offering within the meaning of Section 4(a)(2) of the Securities Act, including publication or release of articles, notices or other communications published in any newspaper, magazine or similar medium or broadcast over
television, radio or internet, or any seminar or meeting whose attendees have been invited by any general solicitation or general advertising, or (iii) engaged in any directed selling efforts within the meaning of Rule 902(c) of Regulation S. 

(c)    Assuming the accuracy of the representations and warranties of the Purchasers in each of the Purchase Agreements
and assuming the accuracy of the statements in the certificate to be delivered by the Placement Agent pursuant to Section 6.5, (i) the Indenture is not required to be qualified under the U.S. Trust Indenture Act of 1939, as amended, and (ii) no
registration under the Securities Act of the Notes, the Guarantees or the Royalty Rights is required in connection with the sale thereof to the Purchasers (or, in the case of the Royalty Rights, any of their Affiliates) as contemplated by the
Transaction Documents. 
 Section 5.2    Investment Company Act Matters. After giving effect to the offering and
sale of the Notes and the Royalty Rights, none of the Obligors will be required to register as an “investment company” or “controlled” by an “investment company” within the meaning of the U.S. Investment Company Act of
1940, as amended. 
 Section 5.3    Use of Proceeds; Margin Regulations. No part of the proceeds from the sale of
the Notes or the Royalty Rights under the Transaction Documents will be used, directly or indirectly, for the purpose of purchasing or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve
System (12 CFR 221), or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve such Obligor in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a
violation of Regulation T of said Board (12 CFR 220). Such Obligor is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock within the meaning of Regulation U of the Board of Governors of the Federal
Reserve System (12 CFR 221). As used in this Section 5.3, the terms “margin stock” and “purpose of purchasing or carrying” shall have the meanings ascribed to them in said Regulation U. 

Section 5.4    Exchange Act Documents. The documents filed by the Issuer with the Commission pursuant to the
Exchange Act since March 31, 2016 (excluding any documents or portions thereof furnished to, rather than filed with, the Commission) (such documents, the “Exchange Act Documents”), when they were filed with the Commission,
conformed in all material respects to the requirements of the Exchange Act, and none of such documents contained any untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading. 
 Section 5.5    Financial Statements.
The financial statements included in the Exchange Act Documents, together with the related notes and schedules, present fairly the consolidated 

  
 9 

 
financial position of the Obligors as of the dates indicated and the consolidated results of operations, cash flows and changes in shareholders’ equity of the Obligors for the periods
specified and have been prepared in all material respects in compliance with the requirements of the Exchange Act and in conformity with U.S. generally accepted accounting principles applied on a consistent basis during the periods involved; the
other financial and accounting data of the Obligors contained in the Exchange Act Documents are accurately and fairly presented and prepared on a basis consistent with the financial statements or the books and records of the Obligors. 

Section 5.6    Organization; Power; Authorization; Enforceability. Each of the Obligors has been duly organized, is
legally existing and is in good standing (or equivalent status) under the Laws of its jurisdiction of organization. Each of the Obligors is duly qualified as a foreign corporation (or other equivalent entity) in all jurisdictions in which the nature
of its business or location of its properties require such qualifications except where the failure to be so qualified would not have a Material Adverse Effect. Each of the Obligors has the requisite corporate (or other equivalent organizational)
power and authority to own, lease or operate the properties and assets it purports to own, lease or operate, to carry on its business as presently conducted and to execute, deliver and perform its obligations under each Transaction Document to which
it is a party except where the failure to have such power and authority to own, lease or operate such properties and assets and carry on such business would not have a Material Adverse Effect. Each Transaction Document entered into as of the Issue
Date to which any Obligor is a party has been duly authorized, executed and delivered by such Obligor and constitutes the valid, legally binding and, assuming due authorization, execution and delivery by all other parties thereto, enforceable
obligation of such Obligor, as the case may be (subject, in each case, to general equitable principles, insolvency, liquidation, reorganization and other Laws of general application relating to creditors’ rights). Each Transaction Document to
be entered into after the Issue Date to which any Obligor will be a party will be duly authorized, executed and delivered by such Obligor and will constitute the valid, legally binding and, assuming due authorization, execution and delivery by all
other parties thereto, enforceable obligation of such Obligor, as the case may be (subject, in each case, to general equitable principles, insolvency, liquidation, reorganization and other Laws of general application relating to creditors’
rights). 
 Section 5.7    Equity Interests; Ownership Structure. Schedule 5.7 sets forth a complete and accurate
list of each Obligor showing, as of the Issue Date (as to each), the jurisdiction of its organization, the address of its principal place of business and its U.S. taxpayer identification number (where applicable). All of the outstanding Equity
Interests in the Obligors have been duly authorized and validly issued and, to the extent applicable, are fully paid and non-assessable, and, in the case of any Subsidiary of the Issuer, the Equity Interests
of such Subsidiary that are owned by the Issuer or any other Obligor are owned by the Issuer or such other Obligor free and clear of all Liens except Permitted Liens and those Liens created under the Security Documents. 

Section 5.8    Governmental and Third Party Authorizations. No approval, authorization, consent or order of or
filing with any Governmental Authority, or of or with any self-regulatory organization or other non-governmental regulatory authority (including, the NASDAQ) or approval of the shareholders of the Issuer or
any other Person, is required in connection with (a) the execution or delivery by any Obligor of any Transaction Document to 

  
 10 

 
which it is a party or the performance of obligations by any Obligor under any Transaction Document to which it is a party (including the issuance and sale of the Notes and the Royalty Rights),
(b) the transactions contemplated by the Transaction Documents, (c) the grant by the Obligors of the Liens granted or purported to be granted by it pursuant to the Security Documents or (d) the perfection of the Liens created under the
Security Documents, other than (i) such approvals, authorizations, consents, orders, filings and other actions as shall have been taken, given, made or obtained and are in full force and effect as of the Issue Date, in each case, as set forth
in Schedule 5.8, (ii) any necessary filings under the securities or blue sky Laws of the various jurisdictions in which the Notes are being offered, (iii) by the Jersey Registrar of Companies or the Jersey Financial Services Commission,
(iv) the filing of financing statements under the UCC, recordings with the PTO and any other recordings (including in any applicable non-U.S. jurisdiction) required to perfect a security interest in the
Notes Collateral; (v) at the UK Companies Registry and at the Scottish Land Register, and (vi) such approvals, authorizations, consents, orders, filings and other actions the failure of which to take, give, make or obtain would not have a
Material Adverse Effect. For the avoidance of doubt, the consents that the Seller has undertaken to use its best efforts to obtain no later than December 31, 2016 pursuant to Section 4.20 of the Indenture are not required in connection
with clauses (a) through (d) of the preceding sentence. 
 Section 5.9    No Conflicts. The execution,
delivery and performance of each Transaction Document by each Obligor to the extent such Obligor is a party, the issuance and sale of the Notes and the Royalty Rights and the consummation of the transactions contemplated by the Transaction Documents
will not conflict with, result in any breach or violation of or constitute a default under (nor constitute any event which, with notice, lapse of time or both, would result in any breach or violation of, constitute a default under or give the holder
of any indebtedness (or a person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a part of such indebtedness under) (or result in the creation or imposition of a lien, charge or encumbrance
on any property or assets of any Obligor pursuant to) (A) the respective certificate of incorporation or certificate of incorporation on name change or articles of association, charter or bylaws or other applicable organizational documents, of
any Obligor, (B) any indenture, mortgage, deed of trust, bank loan or credit agreement or other evidence of indebtedness, or any license, lease, contract or other agreement or instrument to which any Obligor is a party or by which any of them
or any of their respective properties may be bound or affected, (C) any federal, state, local or non-U.S. Law, (D) any rule or regulation of any self-regulatory organization or other non-governmental regulatory authority (including, the rules and regulations of the NASDAQ), or (E) any decree, judgment or order applicable to any Obligor or any of their respective properties, except, in the
case of clauses (B), (C) or (D), where such breach, violation, default, event, right, lien, charge or encumbrance would not, individually or in the aggregate, have a Material Adverse Effect. 

Section 5.10    No Violation or Default. None of the Obligors is in breach or violation of or in default under (nor
has any event occurred which, with notice, lapse of time or both, would result in any breach or violation of, constitute a default under or give the holder of any indebtedness (or a person acting on such holder’s behalf) the right to require
the repurchase, redemption or repayment of all or a part of such indebtedness under) (A) its respective certificate of incorporation or certificate of incorporation on name change or articles of association, charter or bylaws or other
applicable organizational documents, (B) any indenture, mortgage, deed of 

  
 11 

 
trust, bank loan or credit agreement or other evidence of indebtedness, or any license, lease, contract or other agreement or instrument to which it is a party or by which it or any of its
properties may be bound or affected, (C) any federal, state, local or non-U.S. Law, (D) any rule or regulation of any self-regulatory organization or other
non-governmental regulatory authority (including, the rules and regulations of the NASDAQ), or (E) any decree, judgment or order applicable to it or any of its properties, except, in the case of clauses
(B), (C) or (D), where such breach, violation, default, event or right would not, individually or in the aggregate, have a Material Adverse Effect. On the Issue Date, there exists no Event of Default under the Indenture. 

Section 5.11    No Material Adverse Change. Except as disclosed in the Exchange Act Documents, subsequent to the
respective dates as of which information is given in the Exchange Act Documents, there has not been (i) any material adverse change, or any development involving a prospective material adverse change, in the business, properties, management,
financial condition or results of operations of the Obligors taken as a whole, (ii) any transaction which is material to the Obligors taken as a whole, (iii) any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by any Obligor, which is material to the Obligors taken as a whole, (iv) any change in the share capital, Capital Stock or outstanding indebtedness of any Obligor or
(v) any dividend or distribution of any kind declared, paid or made on the share capital or Capital Stock of any Obligor. 
 Section
5.12    Compliance with ERISA. At no time in the past six years has any Obligor or any ERISA Affiliate maintained, sponsored, participated in, contributed to or has or had any liability or obligation in respect of any
Employee Benefit Plan subject to Part 3 of Subtitle B of Title I of ERISA, Title IV of ERISA, or Section 412 of the Code or any “multiemployer plan” as defined in Section 3(37) of ERISA or any multiple employer plan for which any
Obligor or any ERISA Affiliate has incurred or could incur material liability under Section 4063 or 4064 of ERISA. No “employee welfare benefit plan” as defined in Section 3(1) of ERISA provides or promises, or at any time
provided or promised, retiree health, or other retiree welfare benefits except to the extent such benefit is fully insured or may be required by the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or similar state law and except,
on a case by case basis, limited extensions of health insurance benefits to former employees receiving severance payments from any Obligor. Each Employee Benefit Plan is and has been operated in compliance with its terms and all applicable Laws,
including but not limited to ERISA and the Code and, to the knowledge of the Obligors, no event has occurred and no condition exists that would subject any Obligor to any tax, fine, lien, penalty or liability imposed by ERISA, the Code or other
applicable law which would reasonably be expected to have a Material Adverse Effect. Each Employee Benefit Plan intended to be qualified under Section 401(a) of the Code is so qualified and has a favorable determination or opinion letter from the
IRS upon which it can rely, and any such determination or opinion letter remains in effect and has not been revoked; with respect to each Foreign Benefit Plan, such Foreign Benefit Plan (1) if intended to qualify for special tax treatment,
meets, in all material respects, the requirements for such treatment, and (2) if required to be funded, is funded to the extent required by applicable Law; none of the Obligors has any obligations under any collective bargaining agreement with any
union. As used in this Purchase Agreement, “Employee Benefit Plan” means any (a) “employee benefit plan” within the meaning of Section 3(3) of ERISA or (b) stock purchase, stock option, stock-based severance,
employment, change-in-control, medical, disability, fringe benefit, bonus, incentive, 

  
 12 

 
deferred compensation, employee loan and all other employee benefit plans, agreements, programs, policies or other arrangements, whether or not subject to ERISA, under which (x) any current
or former employee, director or independent contractor of any Obligor has any present or future right to benefits and which are contributed to, sponsored by or maintained by any of any Obligor or (y) any Obligor has had or has any present or
future direct or contingent obligation or liability; and “Foreign Benefit Plan” means any Employee Benefit Plan established, maintained or contributed to outside of the United States or which covers any employee of any Obligor working or
residing outside of the United States. 
 Section 5.13    Tax Matters. All material tax returns required to be
filed by any Obligor have been timely filed (within any applicable time limit extensions permitted by the relevant tax authority), and all material taxes and other assessments of a similar nature (whether imposed directly or through withholding)
including any interest, additions to tax or penalties applicable thereto due or claimed to be due from such entities have been timely paid, other than those being contested in good faith and for which adequate reserves have been provided. 

Section 5.14    Legal Proceedings. Except as disclosed in the Exchange Act Documents, there are no actions, suits,
claims, investigations or proceedings pending or, to the knowledge of the Obligors, threatened or contemplated to which any Obligor or any of their respective directors or officers is or would be a party or of which any of their respective
properties is or would be subject at law or in equity, before or by any Governmental Authority or before or by any self-regulatory organization or other non-governmental regulatory authority (including, the
NASDAQ), except any such action, suit, claim, investigation or proceeding which, if resolved adversely to any Obligor, would not, individually or in the aggregate, have a Material Adverse Effect. 

Section 5.15    Solvency. No step has been taken or is currently intended by any Obligor or, to the knowledge of
the Obligors, any other Person for the winding-up, liquidation, dissolution or administration or for the appointment of a receiver or administrator of any Obligor for all or any of the Obligors’
properties or assets. Immediately after the issuance and sale of the Notes and the Royalty Rights and the consummation of the other transactions contemplated by the Transaction Documents on the applicable Closing Date, the Obligors taken as a whole
will not be rendered insolvent within the meaning of 11 U.S.C. 101(32) or any other applicable insolvency Laws or, taken as a whole, be unable to realize upon their property and pay their debts as they mature. 

Section 5.16    Existing Indebtedness. The Exchange Act Documents disclose all of the following types of material
third-party indebtedness of each Obligor outstanding as of the Issue Date: (a) indebtedness in respect of borrowed money; (b) any other obligation of such Obligor to be liable for, or to pay, as obligor, guarantor or otherwise, on the
indebtedness for borrowed money of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and (c) to the extent not otherwise included, indebtedness for borrowed money of another
Person secured by a Lien on any asset owned by such Person (whether or not such indebtedness for borrowed money is assumed by such Person). 

Section 5.17    Material Contracts. None of the Obligors have sent or received any communication regarding
termination of, or intent not to renew, any Material Contract, and no such termination or non-renewal has been threatened by any Obligor or, to the knowledge of the Obligors, by any other party to any such
contract or agreement. 

  
 13 

 Section 5.18    Properties. Except as disclosed in the Exchange Act
Documents, each of the Obligors has good and marketable title to, or valid leasehold interests in or rights to use, all of its tangible properties and assets material to its business as presently conducted, free and clear of all Liens other than
Permitted Liens. Except as disclosed in the Exchange Act Documents, none of the Obligors own any real property. The Exchange Act Documents disclose all material leases of real property to which any Obligor is party (whether as lessor, lessee or
otherwise). To the knowledge of the Obligors, any real property held by any Obligor under lease constitutes the valid, legally binding and enforceable obligation of all parties thereto (subject, in each case, to general equitable principles,
insolvency, liquidation, reorganization and other Laws of general application relating to creditors’ rights) except as would not have a Material Adverse Effect. 

Section 5.19    Intellectual Property.  

(a)    Except as disclosed in the Exchange Act Documents, the Obligors own the Intellectual Property described in the
Exchange Act Documents as being owned by them and own or have obtained valid and enforceable licenses for, or other rights to use all Intellectual Property (except that the enforcement thereof may be subject to general equitable principles,
insolvency, liquidation, reorganization and other Laws of general application relating to creditors’ rights) used in and necessary for the conduct of their respective businesses as currently conducted or as currently proposed to be conducted
(including the commercialization of products or services described in the Exchange Act Documents as under development) (collectively, “Relevant Intellectual Property”); to the knowledge of the Obligors, (i) there are no third
parties who have or will be able to establish rights to any Relevant Intellectual Property that is described in the Exchange Act Documents as owned or purported to be owned by any Obligor, except for, and to the extent of, the ownership rights of
any co-owners of such Relevant Intellectual Property that are disclosed in the Exchange Act Documents; (ii) there is no infringement by misappropriation or other violation by any third parties of any
Relevant Intellectual Property owned by or exclusively licensed to any Obligor; (iii) there is no pending or, to the knowledge of the Obligors, threatened action, suit, proceeding or claim by others challenging any Obligor’s rights in or
to any Relevant Intellectual Property, and the Issuer is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding or claim; (iv) none of the Obligors has received any notice from, and there is no pending
or, to the knowledge of the Obligors, threatened action, suit, proceeding or claim by others challenging the validity, enforceability or scope of any Relevant Intellectual Property, and the Issuer is unaware of any facts which could form a
reasonable basis for any such action, suit, proceeding or claim; (v) none of the Obligors have received any notice from, and there is no pending or, to the knowledge of the Obligors, threatened action, suit, proceeding or claim by others that
any Obligor infringes, misappropriates or otherwise violates, or could, upon the commercialization of any product or service described in the Exchange Act Documents as under development, infringe, misappropriate or violate any Intellectual Property
of others, and the Issuer is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding or claim; (vi) the Obligors have complied with the material terms of each agreement pursuant to which Relevant
Intellectual Property has been licensed to any Obligor, and all such agreements are in full force and effect; (vii) to the knowledge of the Obligors there is no Patent or patent application that

  
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contains claims that interfere with the issued or pending claims of any Patents included in the Relevant Intellectual Property owned by or exclusively licensed to any Obligor; (viii) the
products described in the Exchange Act Documents as under development by any Obligor fall within the scope of the claims of one or more Patents owned by, or exclusively licensed to, any Obligor; (ix) all Patents and patent applications owned by
and, to the knowledge of the Obligors, exclusively licensed to any Obligor have been duly and properly filed and maintained and the Obligors and, to the knowledge of the Obligors, the applicable licensor have complied in all material respects with
their duty of candor and disclosure to the U.S. Patent and Trademark Office (the “PTO”) or other applicable patent office with respect to all patent applications owned by or exclusively licensed to any Obligor and included in the
Relevant Intellectual Property and filed with the PTO or other applicable patent office; (x) the Obligors have taken all steps reasonably necessary to secure their respective interest in the Relevant Intellectual Property owned or purported to
be owned by any Obligor, including obtaining all necessary assignments from its employees, consultants and contractors pursuant to a written agreement; (xi) the Obligors have taken reasonable steps in accordance with normal industry practice to
maintain the confidentiality of all material trade secrets included in any Intellectual Property, and no such Relevant Intellectual Property has been disclosed other than to employees, representatives, independent contractors, collaborators,
licensors, licensees, agents and advisors of the Obligors who are legally bound to a duty of confidentiality; (xii) the Obligors are not a party to or bound by any options, licenses or agreements with respect to the Intellectual Property of any
other person or entity that are required to be described in the Exchange Act Documents that are not so described therein; (xiii) all conditions stated in any license agreement under which Relevant Intellectual Property is exclusively licensed
to any Obligor that are required to be satisfied in order for such Obligor to retain exclusive rights have been timely satisfied; (xiv) to the knowledge of the Obligors, the issued Patents owned by or exclusively licensed to any Obligor are
valid and enforceable and the Issuer is unaware of any facts that would preclude the issuance of a valid and enforceable Patent on any pending patent application owned by any Obligor; and (xv) except as disclosed in the Exchange Act Documents,
no government funding, facilities or resources of a university, college, other educational institution or research center was used in the development of any Relevant Intellectual Property that is owned or purported to be owned by any Obligor that
would confer upon any governmental agency or body, university, college, other educational institution or research center any claim or right in or to any such Relevant Intellectual Property. 

(b)    Schedule 5.19 contains a complete list of (i) all registered trademarks, copyrights and Patents that
are owned by or licensed to any Obligor, in each case that are reasonably necessary for the operation of the business of the Obligors as presently conducted and (ii) all Patent license agreements granting rights to any of the Obligors to such
licensed Patents. 
 (c)    Each Obligor is the owner or holder of each biologics license application set forth opposite
its name in Schedule 5.19. No Obligor has granted or assigned to any other Person, directly or indirectly, any rights to any other Person under any such biologics license application; provided, however, that such Obligor may
have assigned or granted to a Person the right to manufacture product under such biologics license application and/or the right to a share of profit from such Obligor’s sales of product under such biologics license application. Schedule
5.19 sets forth the product that pertains to each such biologics license application. 

  
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 Section 5.20    Environmental Matters. The Obligors and their
respective properties, assets and operations are in compliance with, and the Obligors hold all permits, authorizations and approvals required under, Environmental Laws (as defined below), except to the extent that failure to so comply or to hold
such permits, authorizations or approvals would not, individually or in the aggregate, have a Material Adverse Effect; there are no past, present or, to the knowledge of the Obligors, reasonably anticipated future events, conditions, circumstances,
activities, practices, actions, omissions or plans that could reasonably be expected to give rise to any material costs or liabilities to any Obligor under, or to interfere with or prevent compliance by any Obligor with, Environmental Laws; except
as would not, individually or in the aggregate, have a Material Adverse Effect, none of the Obligors (i) is the subject of any investigation, (ii) has received any notice or claim, (iii) is a party to or affected by any pending or, to
the knowledge of the Obligors, threatened action, suit or proceeding, (iv) is bound by any judgment, decree or order or (v) has entered into any agreement, in each case relating to any alleged violation of any Environmental Law or any
actual or alleged release or threatened release or cleanup at any location of any Hazardous Materials (as defined below) (as used herein, “Environmental Law” means any applicable federal, state, local or
non-U.S. Law, statute, ordinance, rule, regulation, order, decree, judgment, injunction, permit, license, authorization or other binding requirement, or common law, relating to health, safety or the
protection, cleanup or restoration of the environment or natural resources, including those relating to the distribution, processing, generation, treatment, storage, disposal, transportation, other handling or release or threatened release of
Hazardous Materials, and “Hazardous Materials” means any material (including pollutants, contaminants, hazardous or toxic substances or wastes) that is regulated by or may give rise to liability under any Environmental Law). 

Section 5.21    Labor Matters. Except for matters which would not, individually or in the aggregate, have a
Material Adverse Effect, (i) none of the Obligors is engaged in any unfair labor practice, (ii) there is (A) no unfair labor practice complaint pending or, to the knowledge of the Obligors, threatened against any Obligor before the
National Labor Relations Board or any similar non-U.S. body, and no grievance or arbitration proceeding arising out of or under collective bargaining agreements is pending or, to the knowledge of the Obligors,
threatened, (B) no strike, labor dispute, slowdown or stoppage pending or, to the knowledge of the Obligors, threatened against any Obligor and (C) no union representation dispute currently existing concerning the employees of any Obligor,
(iii) to the knowledge of the Obligors, no union organizing activities are currently taking place concerning the employees of any Obligor and (iv) there has been no violation of any applicable federal, state, local or non-U.S. Law relating to discrimination in the hiring, promotion or pay of employees of any Obligor, any applicable wage or hour Laws, or the rules and regulations promulgated thereunder, or any similar applicable non-U.S. law, rule or regulation, concerning the employees of any Obligor. 
 Section
5.22    Insurance. The Obligors maintain insurance covering their respective properties, operations, personnel and businesses as the Issuer reasonably deems adequate; such insurance insures against such losses and risks to
an extent which is adequate in accordance with customary industry practice to protect the Obligors and their respective businesses; all such insurance is fully in force on the date hereof and will be fully in force at the time of purchase and each
additional time of purchase, if any; none of the Obligors have any reason to believe that it will not be able to (i) renew any such insurance as and when such insurance expires or (ii) obtain comparable coverage from similar institutions
as may be necessary or appropriate to conduct its business as now conducted at a cost that would not result in any Material Adverse Effect. 

  
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 Section 5.23    No Unlawful Payments. None of the Obligors, nor any
director, officer or employee of any Obligor nor, to the knowledge of the Obligors, any agent, affiliate or other person associated with or acting on behalf of any Obligor has (i) used any corporate funds for any unlawful contribution, gift,
entertainment or other unlawful expense relating to political activity; (ii) made or taken an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government
official or employee, including of any government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official
or candidate for political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign
Public Officials in International Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom, or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act
in furtherance of any unlawful bribe or other unlawful benefit, including any unlawful rebate, payoff, influence payment, kickback or other unlawful payment or benefit. The Obligors have instituted, maintain and enforce, and will continue to
maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption Laws. 

Section 5.24    Compliance with Anti-Money Laundering Laws. The operations of the Obligors are and have been
conducted at all times in compliance with applicable financial recordkeeping and reporting requirements, including those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of all
jurisdictions where any Obligor conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving any Obligor with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of
the Obligors, threatened. 
 Section 5.25    Compliance with OFAC. None of the Obligors, directors, officers or
employees, nor, to the knowledge of the Obligors, any agent, affiliate or other person associated with or acting on behalf of any Obligor is currently the subject or the target of any sanctions administered or enforced by the U.S. government
(including the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and including the designation as a “specially designated national” or “blocked person”), the United Nations
Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority (collectively, “Sanctions”), nor are any of the Obligors located, organized or resident in a country or territory that is the
subject or target of Sanctions, including Cuba, Iran, North Korea, Sudan, Syria and Crimea (each, a “Sanctioned Country”); and the Issuer will not directly or indirectly use the proceeds of the offering of the Notes hereunder, or
lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other person or entity (i) to fund or facilitate any activities of or business with any person that, at the time of such funding or
facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any 

  
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activities of or business in any Sanctioned Country or (iii) in any other manner that will result in a violation by any person (including any person participating in the transaction, whether
as underwriter, advisor, investor or otherwise) of Sanctions. For the past five years, the Obligors have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or
transaction is or was the subject or the target of Sanctions or with any Sanctioned Country. 
 Section
5.26    Disclosure Controls. The Issuer has established and maintains and evaluates “disclosure controls and procedures” (as such term is defined in Rules 13a-15 and 15d-15 under the Exchange Act) and “internal control over financial reporting” (as such term is defined in Rules 13a-15 and
15d-15 under the Exchange Act); such disclosure controls and procedures are designed to ensure that material information relating to the Issuer, including its Subsidiaries, is made known to the Issuer’s
Chief Executive Officer and its Chief Financial Officer by others within those entities, and such disclosure controls and procedures are effective to perform the functions for which they were established; the Issuer’s independent registered
public accountants and the Audit Committee of the Board of Directors of the Issuer have been advised of: (i) all significant deficiencies, if any, in the design or operation of internal controls which could adversely affect the Issuer’s
ability to record, process, summarize and report financial data; and (ii) all fraud, if any, whether or not material, that involves management or other employees who have a role in the Issuer’s internal controls; all “significant
deficiencies” and “material weaknesses” (as such terms are defined in Rule 1-02(a)(4) of Regulation S-X under the Securities Act) of the Issuer, if any,
have been identified to the Issuer’s independent registered public accountants and are disclosed in the Exchange Act Documents; since the end of the Issuer’s most recent audited fiscal year, there have been no significant changes in
internal controls or in other factors that could significantly affect internal controls, including any corrective actions with regard to significant deficiencies and material weaknesses, and the Issuer has taken all necessary actions to ensure that,
the Obligors and their respective officers and directors, in their capacities as such, will be in compliance in all material respects with the applicable provisions of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) and
the rules and regulations promulgated thereunder. 
 Section 5.27    Accounting Controls. The Obligors have
established and maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with
management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 

Section 5.28    Licenses and Permits. The Obligors have all necessary licenses, authorizations, consents and
approvals and have made all necessary filings required under any applicable Law and has obtained all necessary licenses, authorizations, consents and approvals from other Persons, in order to conduct their respective businesses, except where the
failure to have or have obtained such licenses, authorizations, consents or approvals or make such filings would not, individually or in the aggregate, have a Material Adverse Effect; none of the Obligors is in violation of, or in default under, or
has received notice of any proceedings relating to 

  
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revocation or modification of, any such license, authorization, consent or approval or any federal, state, local or non-U.S. Law, regulation or rule or any
decree, order or judgment applicable to any Obligor, except where such violation, default, revocation or modification would not, individually or in the aggregate, have a Material Adverse Effect. 

Section 5.29    No Immunity. None of the Obligors nor any of its properties or assets has any immunity from the
jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution or otherwise) under the Laws of Jersey, Scotland or Switzerland. 

Section 5.30    Feasibility Studies. The feasibility studies that are described in, or the results thereof which
are referred to in, the Exchange Act Documents were conducted in all material respects in accordance with standard accepted medical and scientific research procedures; each description of the results of such studies contained in the Exchange Act
Documents is accurate and complete in all material respects and fairly presents the data derived from such studies, and the Obligors have no knowledge of any other studies or tests or trials the results of which are inconsistent with, or otherwise
call into question, the results described or referred to in the Exchange Act Documents. 
 Section 5.31    Health
Care Laws. The Obligors and, to the knowledge of the Obligors, the Obligors’ respective directors, officers, employees, and agents (while acting in such capacity) are, and at all times prior hereto were, in material compliance with, all
health care Laws applicable to the Obligors or any of their products or activities, including the federal Anti-Kickback Statute (42 U.S.C. Section 1320a-7b(b)), the Anti-Inducement Law (42 U.S.C. Section 1320a-7a(a)(5)), the civil False Claims Act (31 U.S.C. Section 3729 et seq.), the administrative False Claims Law (42 U.S.C. Section 1320a-7b(a)), the Stark law (42
U.S.C. Section 1395nn), the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. Section 1320d et seq.) as amended by the Health Information Technology for Economic and Clinical Health Act (42 U.S.C. Section 17921 et
seq.), the exclusion laws (42 U.S.C. Section 1320a-7), the Federal Food, Drug, and Cosmetic Act (21 U.S.C. Section 301 et seq.), the Controlled Substances Act (21 U.S.C. Section 801 et seq.), the
Public Health Service Act (42 U.S.C. Section 201 et seq.), Medicare (Title XVIII of the Social Security Act), Medicaid (Title XIX of the Social Security Act), the regulations promulgated pursuant to such Laws, and any other state, federal or non-U.S. law, accreditation standards, regulation, memorandum, opinion letter, or other issuance which imposes legally binding requirements on the manufacturing, development, testing, labeling, advertising,
marketing or distribution of drugs, biological products and/or medical devices (including diagnostic products), kickbacks, patient or program charges, recordkeeping, claims process, documentation requirements, medical necessity, referrals, the
hiring of employees or acquisition of services or supplies from those who have been excluded from government health care programs, quality, safety, privacy, security, licensure, accreditation or any other aspect of providing health care, clinical
laboratory or diagnostics products or services (collectively, “Health Care Laws”) except, with respect to any of the foregoing, such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. None of the Obligors have received any notification, correspondence or any other written or oral communication, including notification of any pending or threatened claim, suit, proceeding, hearing, enforcement, investigation, arbitration or
other action from any Governmental Authority, including the FDA, the EMEA, the United States Federal Trade Commission, the 

  
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United States Drug Enforcement Administration, the Centers for Medicare & Medicaid Services, HHS’s Office of Inspector General, the United States Department of Justice and state
Attorneys General or similar agencies of potential or actual non-compliance by, or liability of, any Obligor under any Health Care Laws, except, with respect to any of the foregoing, such as would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. to the knowledge of the Obligors, there are no facts or circumstances that would reasonably be expected to give rise to material liability of any Obligor
under any Health Care Laws. 
 Section 5.32    Regulatory Filings.  

(a)    The manufacture by or on behalf of any Obligor of any of the Obligors’ respective products is being conducted
in compliance in all material respects with all applicable Health Care Laws, including the FDA’s current good manufacturing practice regulations at 21 C.F.R. Parts 210, 211, 600 through 680, and 820, and, to the extent applicable, the
respective counterparts thereof promulgated by governmental authorities in countries outside the United States. 

(b)    The Obligors are complying in all material respects with all applicable regulatory post-market reporting
obligations, including the FDA’s adverse event reporting requirements at 21 C.F.R. Parts 310, 314, 600, and 803, and, to the extent applicable, the respective counterparts thereof promulgated by governmental authorities in countries outside the
United States. 
 (c)    Except as disclosed in the Exchange Act Documents, none of the Obligors have had any product,
clinical laboratory or manufacturing site (whether Obligor-owned or that of a third party manufacturer for the Obligors’ respective products) subject to a Governmental Authority (including FDA) shutdown or import or export prohibition, nor
received any FDA Form 483 or other Governmental Authority notice of inspectional observations, “warning letters,” “untitled letters,” requests to make changes to the Obligors’ respective products, processes or operations, or
similar correspondence or notice from the FDA or other Governmental Authority alleging or asserting material noncompliance with any applicable Health Care Laws. to the knowledge of the Obligors, neither the FDA nor any other Governmental Authority
is considering such action. 
 (d)    Except as disclosed in the Exchange Act Documents, there have been no material
recalls, field notifications, field corrections, market withdrawals or replacements, warnings, “dear doctor” letters, investigator notices, safety alerts or other notice of action relating to an alleged lack of safety, efficacy, or
regulatory compliance with respect to the Obligors’ respective products (“Safety Notices”); to the knowledge of the Obligors, there are no facts that would be reasonably likely to result in (i) a Safety Notice with respect
to the Obligors’ respective products or services, (ii) a material change in labeling of the Obligors’ respective products or services, or (iii) a material termination or suspension of marketing or testing of any the Obligors’
respective products or services. 
 (e)    The Obligors have not knowingly made any false statements on, or material
omissions from, any applications, approvals, reports or other submissions to any Regulatory Agency, or in or from any other records and documentation prepared or maintained 

  
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to comply with the requirements of any Regulatory Agency relating to the Obligors’ respective products. None of the Obligors or, to the knowledge of the Obligors, any officer, employee or
agent of any Obligor has been convicted of any crime or engaged in any conduct that would reasonably be expected to result in (a) debarment under 21 U.S.C. Section 335a or any similar state or non-U.S.
law or regulation or (b) exclusion under 42 U.S.C. Section 1320a-7 or any similar state or non-U.S. law or regulation, and none of the Obligors nor any such person
has been so debarred or excluded. 
 Section 5.33    Security Documents. The representations and warranties of
the Obligors in Article III of the Collateral Agreement are true and correct, except to the extent that any such untrue or incorrect statement, individually or in the aggregate, would not have a material adverse effect on the Notes Collateral. 

ARTICLE VI 

CONDITIONS TO CLOSING 

The obligations of the Purchaser hereunder on each Closing Date are subject to the accuracy in all material respects (except for such
representations qualified by materiality or Material Adverse Effect, which shall be accurate in all respects) of the representations and warranties of the Obligors contained herein as of such Closing Date (subject in the case of the Subsequent
Closing Date to exceptions or updates to such representations and warranties contemplated by Section 6.3), to the accuracy of the statements of the Obligors and their respective officers made in any certificates delivered pursuant hereto on
such Closing Date, to the performance by the Obligors of their respective obligations hereunder as of such Closing Date and to the satisfaction or waiver by the Purchaser of each of the following additional terms and conditions applicable on such
Closing Date: 
 Section 6.1    Obligors’ Counsel Opinions. 

(a)    Clifford Chance US LLP, special counsel to the Obligors, shall have furnished to the Purchasers their opinion,
addressed to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers. 

(b)    DWF LLP, special Scottish counsel to the Obligors, shall have furnished to the Purchasers their opinion, addressed
to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers. 

(c)    Lexartis Avocats, special Switzerland counsel to the Obligors, shall have furnished to the Purchasers their
opinion, addressed to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers. 

Section 6.2    Purchasers’ Counsel Opinions.  

(a)    Pillsbury Winthrop Shaw Pittman LLP, special counsel to the Purchasers (and any Affiliate thereof purchasing the
Royalty Rights on the applicable Closing Date), shall 

  
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have furnished to the Purchasers dated (i) their reasoned opinions, each addressed to the Purchasers and the applicable Closing Date, as to certain product clearance and validity matters,
and (ii) their opinion, addressed to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers. 

(b)    Prager Dreifuss AG, special Switzerland counsel to the Purchasers, shall have furnished to the Purchasers their
opinion, addressed to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers. 

(c)    Bedell Cristin Jersey Partnership, special Channel Islands counsel to the Purchasers, shall have furnished to the
Purchasers their opinion, addressed to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers.

 (d)    Burness Paull LLP, special Scottish counsel to the Purchasers, shall have furnished to the Purchasers their
opinion, addressed to the Purchasers (and any Affiliate thereof purchasing the Royalty Rights on the applicable Closing Date) and dated the applicable Closing Date, in form and substance reasonably satisfactory to the Purchasers. 

Section 6.3    Certification as to Purchase Agreement and Collateral Agreement. Each Obligor shall have furnished
to the Purchasers a certificate, dated the applicable Closing Date, of its respective Responsible Officer, stating that, as of the applicable Closing Date, the representations and warranties of such Obligor in this Purchase Agreement and the
Collateral Agreement are true and correct in all material respects (except for such representations qualified by materiality or Material Adverse Effect, which are true and correct in all respects) and such Obligor has complied in all material
respects with all of the agreements and satisfied all of the conditions on its part to be performed or satisfied hereunder or under the Collateral Agreement on or before the applicable Closing Date; provided, however, that any such certificate as of
the Subsequent Closing Date may provide exceptions to any representation and warranty made in Sections 5.11 through 5.32 or in Article III of the Collateral Agreement or update any Schedule provided pursuant to Article V or any exhibit provided
pursuant to Article III of the Collateral Agreement. 
 Section 6.4    Authorizations. Each Obligor shall have
furnished to the Purchasers (a) a copy of the resolutions, consents or other documents, certified by a Responsible Officer of such Obligor, as of the applicable Closing Date, duly authorizing the execution and delivery of, and performance of
obligations under, the Transaction Documents to which it is a party and any other documents to be executed on or prior to the applicable Closing Date by or on behalf of it in connection with the transactions contemplated thereby and, in the case of
the Issuer, the issuance and sale of the applicable Notes and Royalty Rights, and a certification that such resolutions, consents or other documents have not been modified, rescinded or amended and are in full force and effect, (b) certified
copies of its respective organizational documents, including as such documents have been amended to effect the transactions contemplated by the Transaction Documents, (c) a certification by a Responsible Officer of such Obligor, as of the
applicable Closing Date, as to the incumbency and specimen signatures of each officer executing any 

  
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Transaction Document or any other document delivered in connection herewith on behalf of such Obligor (together with a certification of another Responsible Officer of such Obligor as to
incumbency and specimen signature of the first-mentioned Responsible Officer) and (d) a certificate of good standing (or equivalent) of such Obligor as of a recent date from the Secretary of State (or other applicable Governmental Authority) of its
jurisdiction of organization. 
 Section 6.5    Offering of Notes and Royalty Rights. The Placement Agent shall
have delivered to the Issuer a certificate, dated on or about the Issue Date, as to the manner of the offering of the Notes, the Guarantees and the Royalty Rights and the number and character of the offerees contacted, which certificate shall state
that the Placement Agent (a) did not solicit offers for, or offer, the Notes, the Guarantees or the Royalty Rights by means of any form of general solicitation or general advertising (as those terms are used in Regulation D under the Securities
Act) or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act, including publication or release of articles, notices or other communications published in any newspaper, magazine or similar medium or
broadcast over television, radio or internet, or any seminar or meeting whose attendees have been invited by any general solicitation or general advertising, and did not engage in any directed selling efforts within the meaning of Rule 902(c) of
Regulation S and (b) solicited offers for the Notes and the Royalty Rights only from, and offered the Notes only to, (i) Persons who it reasonably believed were QIBs or, if any such Person was buying for one or more institutional accounts
for which such Person was acting as fiduciary or agent, only when such Person reasonably believed that each such account was a QIB, (ii) in the case of offers outside the United States, to Persons that are not U.S. persons (as defined in
Regulation S) in accordance with Rule 903 of Regulation S, and (iii) Accredited Investors, and shall further state that counsel to the Obligors and to the Purchasers may rely thereon in rendering their respective opinions to be delivered hereunder.

 Section 6.6    CUSIP Numbers. Standard & Poor’s CUSIP Service Bureau, as agent for the National
Association of Insurance Commissioners, shall have issued CUSIP numbers and ISIN numbers for the Notes. 
 Section
6.7    Further Information. On or prior to the applicable Closing Date, the Obligors shall have furnished to the Purchaser such further information, certificates and documents as such Purchaser may reasonably request in
connection with this Purchase Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby (including written evidence that all outstanding obligations under the Issuer’s Amended and Restated Credit,
Security and Guaranty Agreement, dated as of August 3, 2015, with Midcap Financial Trust, as amended, will be repaid in full on or prior to the Closing Date of the Original Notes and that on or prior to the Closing Date of the Original Notes,
all Liens securing such obligations will be released); provided, however, that the Purchaser shall not be entitled to receive any information or data of the type contemplated by Section 4.4 following the Issue Date. 

Section 6.8    Consummation of Transactions. All of the transactions contemplated by the Transaction Documents to
be completed on or before the applicable Closing Date shall have been consummated or shall be consummated concurrently with the transactions contemplated hereby, and the Purchaser shall have received executed copies of the Transaction Documents
(which shall be in full force and effect). 

  
 23 

 Section 6.9    No Actions. No action shall have been taken and no Law
has been enacted, adopted or issued by any Governmental Authority that would, as of the applicable Closing Date, prevent the issuance or sale of the applicable Notes or the Royalty Rights, and no injunction, restraining order or order of any other
nature by any court of competent jurisdiction shall have been issued as of the applicable Closing Date that would prevent the issuance or sale of the applicable Notes or the Royalty Rights. 

Section 6.10    Consents. The Purchasers shall have received copies of all consents, approvals, authorizations,
orders, registrations and qualifications set forth in Schedule 5.8. 
 Section 6.11    Notes Collateral
Requirements. The Collateral Agent shall have received with respect to the Notes Collateral, on or prior to the Issue Date: 

(a)    all certificates, agreements or instruments representing or evidencing the Equity Interests of the Subsidiary
Guarantors referred to in the Security Documents accompanied by instruments of transfer and stock powers undated and endorsed in blank; 

(b)    all other certificates, agreements or instruments necessary to perfect the Collateral Agent’s security
interest in all chattel paper, all instruments, all deposit accounts and all investment property of each Obligor (to the extent required by any Transaction Document) (other than in respect of the Equity Interests of Subsidiary Guarantors
incorporated in Scotland, in which case such instruments of transfer must be dated and transfer the relevant Equity Interests to the Collateral Agent or such nominee as it may select); 

(c)    evidence of the filing of financing statements under the UCC, recordings with the PTO and other recordings
(including in any applicable non-U.S. jurisdiction) required, necessary, appropriate or reasonably requested to be made to perfect a security interest in the Notes Collateral, including those specified in the
Security Documents; and 
 (d)    certified copies of UCC, PTO, United States Copyright Office, tax, judgment lien,
bankruptcy and pending lawsuit searches or equivalent reports or searches, each as of a recent date and listing all effective financing statements, lien notices or comparable documents that name any Obligor as debtor and that are filed in the
jurisdiction in which such Obligor is organized or maintains its principal place of business and such other searches deemed necessary or appropriate, none of which encumber the Notes Collateral covered or intended to be covered in the Security
Documents. 
 Section 6.12    Insurance. The Collateral Agent shall have received on or prior to the Issue Date
evidence that all insurance required to be maintained pursuant to the Transaction Documents by the Obligors has been obtained and is in effect together with the certificates of insurance, naming the Collateral Agent, on behalf of all Persons in
whose name the Notes are registered from time to time in the register with respect to the Notes, as an additional insured or loss payee, as the case may be, under all insurance policies maintained with respect to the properties and assets that
constitute Notes Collateral. 
 Section 6.13    Use of Proceeds. The Issuer will apply the proceeds of the sale
of the Notes and the Royalty Rights to repay all outstanding obligations under the Issuer’s Amended and Restated Credit, Security and Guaranty Agreement, dated as of August 3, 2015, with Midcap

  
 24 

 
Financial Trust, as amended, to finance the construction or acquisition of the approximately 92,000 square foot manufacturing, laboratory and office facility in the process of being constructed
at the Midlothian Biocampus near Edinburgh, Scotland, to finance the construction or acquisition of a manufacturing facility for MosaiQTM consumables located in Eysins, Switzerland, to fund the
Cash Reserve Account on the Issue Date in the amount of the Initial Cash Reserve Amount, to fund the Cash Reserve Account on the date of issuance of the Additional Notes in the amount of the Additional Cash Reserve Amount, to pay fees, costs and
expenses arising in connection with the issuance of the Notes and for general corporate purposes. 
 Section
6.14    Royalty Rights. On each Closing Date, (a) the applicable Royalty Right shall have been received by the Purchaser (or any Affiliate thereof) pursuant to the applicable Royalty Right Agreement and (b) the
Issuer and the Purchaser shall execute and deliver such Royalty Right Agreement in the form of Exhibit A. 
 ARTICLE VII 

ADDITIONAL COVENANTS 

Section 7.1    DTC. The Issuer will use reasonable best efforts to comply with the agreements set forth in the
representation letter of the Issuer to DTC relating to the approval of the Notes by DTC for “book-entry” transfer. 
 Section
7.2    Expenses. The Issuer agrees to pay or cause to be paid from the proceeds of the issuance of the Notes and the Royalty Rights all reasonable, documented fees and expenses of Pillsbury Winthrop Shaw Pittman LLP,
acting as special counsel to the Purchasers, Bedell Cristin Jersey Partnership, acting as special Jersey, Channel Islands counsel to the Purchasers, Prager Dreifuss AG, acting as special Switzerland counsel to the Purchasers, and Burness Paull LLP,
acting as special Scotland counsel to the Purchasers (the amount of any such payment of the reasonable, documented fees and expenses of Pillsbury Winthrop Shaw Pittman LLP (excluding such fees and expenses related to intellectual property work and
opinions) not to exceed in the aggregate the amount set forth in paragraph 2 of the letter agreement dated May 31, 2016 between the Issuer and the Placement Agent (unless otherwise agreed to by the Issuer)), it being understood that the Issuer
will not reimburse any other expenses of any Purchasers (including expenses of any other counsel). 
 Section
7.3    Confidentiality; Public Announcement. 
 (a)    Except as otherwise required by
Law or judicial or administrative proceedings (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigation demand or similar process) or the rules and regulations of any securities exchange or trading
system or any Governmental Authority or pursuant to requests from regulatory agencies having oversight over any of the Obligors and except as otherwise set forth in this Section 7.3, each Obligor will, and will cause each of its Affiliates,
directors, officers, employees, agents, representatives and similarly situated persons who receive such information to, treat and hold as confidential and not disclose to any Person any and all Confidential Information furnished to it by the
Purchaser, as well as the information on Schedule 1 to this Purchase Agreement, and to use any such Confidential Information and other information only in connection with this Purchase Agreement and any other Transaction Document and the

  
 25 

 
transactions contemplated hereby and thereby. Notwithstanding the foregoing, the Obligors may disclose such information solely on a
need-to-know basis and solely to their members, directors, employees, managers, officers, agents, brokers, advisors, lawyers, bankers, trustees, representatives,
investors, co-investors, insurers, insurance brokers, underwriters and financing parties; provided, however, that such Persons shall be informed of the confidential nature of such information and
shall be obligated to keep such Confidential Information and other information confidential pursuant to obligations of confidentiality no less onerous than those set forth herein. 

(b)    The Purchaser acknowledges that it will not, after the execution of this Purchase Agreement, make a public
announcement or filing with respect to the transactions contemplated by the Transaction Documents or reference or describe such transactions in a public announcement or filing, without the Issuer’s prior written consent (such consent not to be
unreasonably withheld, delayed or conditioned). Except as required by applicable Law or judicial or administrative proceedings (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigation demand or
similar process) or the rules and regulations of any securities exchange or trading system or any Governmental Authority or pursuant to requests from regulatory agencies having oversight over any of the Obligors, in no event shall the
Purchaser’s name (in any variation) be used in any public announcement or filing, or in any type of mail or electronic distribution intended for an audience that is not solely limited to the Affiliates of the Issuer, without the
Purchaser’s written consent. 
 (c)    Except as required by applicable Law or judicial or administrative
proceedings (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigation demand or similar process) or the rules and regulations of any securities exchange or trading system or any Governmental Authority
or pursuant to requests from regulatory agencies having oversight over any of the Obligors, neither the Issuer nor any of its Affiliates shall disclose to any Person, or use or include in any public announcement or any public filing, the identity of
any shareholders, members, directors or Affiliates of the Purchaser, without the prior written consent of such shareholder, member, director or Affiliate. 

Section 7.4    Channel Islands Listing. The Issuer will use commercially reasonable efforts to list the Notes on
the Official List of the Channel Islands Securities Exchange Authority Limited (or any other recognized stock exchange as the Issuer may in its sole discretion determine) as soon as reasonably practicable after the Issue Date. 

ARTICLE VIII 

SURVIVAL OF CERTAIN PROVISIONS 

Section 8.1    Survival of Certain Provisions. The representations, warranties, covenants and agreements contained
in this Purchase Agreement shall survive (a) the execution and delivery of this Purchase Agreement, the Notes, the Guarantees and the Royalty Rights and (b) subject to Section 10.1, the sale or transfer by any Purchaser of any Note or
Royalty Right or portion thereof or interest therein. All such provisions are binding upon and may be relied upon by any subsequent holder or beneficial owner of a Note or Royalty Right, regardless of any investigation made at any time by or on
behalf of any Purchaser or any other holder or beneficial owner of a Note or Royalty Right; provided that, unless the Issuer provides its prior written consent as contemplated by Section 10.1, the Purchaser shall remain obligated to purchase
the 

  
 26 

 
Additional Notes pursuant to Article III upon the occurrence of an Additional Securities Triggering Event notwithstanding any sale or transfer by the Purchaser of any Note or portion thereof or
interest therein. All statements contained in any certificate or other instrument delivered by or on behalf of any party hereto pursuant to this Purchase Agreement shall be deemed to have been relied upon by each other party hereto and shall survive
the consummation of the transactions contemplated hereby regardless of any investigation made by or on behalf of any such party. The Transaction Documents embody the entire agreement and understanding among the parties hereto and supersede all prior
agreements and understandings relating to the subject matter hereof, other than the separate Confidentiality Agreements entered into between each Purchaser and the Issuer relating to the transactions contemplated hereby. Notwithstanding anything to
the contrary elsewhere in this Purchase Agreement, no party shall, in any event, be liable to any other Person for any consequential, incidental, indirect, special or punitive damages of such other Person, including loss of revenue, income or
profits, diminution of value or loss of business reputation or opportunity relating to the breach or alleged breach hereof (provided that such limitation with respect to lost profits or otherwise shall not limit the Issuer’s right to recover
contract damages in connection with the Purchaser’s failure to close in violation of this Purchase Agreement). 
 ARTICLE IX 

NOTICES 
 Section
9.1    Notices. All statements, requests, notices and agreements hereunder shall be in writing and delivered by hand, mail, overnight courier or telefax as follows: 

(a)    if to the Purchaser, in accordance with Schedule 1; and 

(b)    if to any Obligor, in accordance with Section 12.01 of the Indenture. 

ARTICLE X 

SUCCESSORS AND ASSIGNS 

Section 10.1    Successors and Assigns. This Purchase Agreement will inure to the benefit of and be binding upon
the parties hereto and their respective successors, permitted assignees and permitted transferees; provided that the Purchaser’s right and obligation to purchase the Additional Notes pursuant to Article III upon the occurrence of an Additional
Securities Triggering Event shall not be transferrable without the Issuer’s prior written consent, in its sole discretion. So long as any of the Notes or Royalty Rights are outstanding, no Obligor may assign any of its rights or obligations
hereunder or any interest herein without the prior written consent of the Purchaser except as permitted in accordance with the Indenture and the Royalty Rights Agreement, as applicable. 

ARTICLE XI 

SEVERABILITY 

Section 11.1    Severability. Any provision of this Purchase Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the
full extent permitted by Law) not invalidate or render unenforceable such provision in any other jurisdiction. 

  
 27 

 ARTICLE XII 

WAIVER OF JURY TRIAL 

Section 12.1    WAIVER OF JURY TRIAL. THE PURCHASER AND EACH OBLIGOR HEREBY WAIVE TRIAL BY JURY IN ANY ACTION
BROUGHT ON OR WITH RESPECT TO THIS PURCHASE AGREEMENT. 
 ARTICLE XIII 

GOVERNING LAW; CONSENT TO JURISDICTION 

Section 13.1    Governing Law; Consent to Jurisdiction. THIS PURCHASE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE
STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. The parties hereto hereby submit to the non-exclusive jurisdiction of the
U.S. federal and state courts of competent jurisdiction in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Purchase Agreement or the transactions contemplated hereby. 

ARTICLE XIV 

COUNTERPARTS 

Section 14.1    Counterparts. This Purchase Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall together constitute one and the same Purchase Agreement. Any counterpart may be executed by facsimile or other electronic transmission, and such facsimile or other electronic
transmission shall be deemed an original. 
 ARTICLE XV 

TABLE OF CONTENTS AND HEADINGS 

Section 15.1    Table of Contents and Headings. The Table of Contents and headings of the Articles and Sections of
this Purchase Agreement have been inserted for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

ARTICLE XVI 
 TAX
DISCLOSURE 
 Section 16.1    Tax Disclosure. Notwithstanding anything expressed or implied to the contrary
herein, the Purchaser, on the one hand, and each Obligor, on the other hand, and its respective employees, representatives and agents may disclose to any and all Persons, without 

  
 28 

 
limitation of any kind, the tax treatment and the tax structure of the transactions contemplated by this Purchase Agreement and the agreements and instruments referred to herein and all materials
of any kind (including opinions or other tax analyses) that are provided to such Person relating to such tax treatment and tax structure; provided, however, that neither such Person nor any employee, representative or other agent thereof shall
disclose any other information that is not relevant to understanding the tax treatment and tax structure of such transactions (including the identity of any party and any information that could lead another to determine the identity of any party) or
any other information to the extent that such disclosure could reasonably result in a violation of any Law relating to U.S. federal or state securities matters. For these purposes, the tax treatment of the transactions contemplated by this Purchase
Agreement and the agreements and instruments referred to herein means the purported or claimed U.S. federal or state tax treatment of such transactions. Moreover, the tax structure of the transactions contemplated by this Purchase Agreement and the
agreements and instruments referred to herein includes any fact that may be relevant to understanding the purported or claimed U.S. federal or state tax treatment of such transactions. 

{SIGNATURE PAGE FOLLOWS} 

  
 29 

 If the foregoing is in accordance with your understanding of this Purchase Agreement, kindly sign
and return to us one of the counterparts hereof, whereupon it will become a binding agreement among us and you in accordance with its terms. 
  

			
	Very truly yours,
	
	QUOTIENT LIMITED
		
	By:	 	 
	Name:	 	
	Title:	 	

 {Signature Page to the Purchase Agreement} 

 
			
	QBD (QS IP) LIMITED
		
	By:	 	 
	Name:	 	
	Title:	 	

 {Signature Page to the Purchase Agreement} 

 
			
	QUOTIENT BIODIAGNOSTICS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

 {Signature Page to the Purchase Agreement} 

 
			
	ALBA BIOSCIENCE LIMITED
		
	By:	 	 
	Name:	 	
	Title:	 	

 {Signature Page to the Purchase Agreement} 

 
			
	QUOTIENT SUISSE SA
		
	By:	 	 
	Name:	 	
	Title:	 	

 {Signature Page to the Purchase Agreement} 

 
			
	QUOTIENT BIOCAMPUS LIMITED
		
	By:	 	 
	Name:	 	
	Title:	 	

 {Signature Page to the Purchase Agreement} 

 [PURCHASER SIGNATURE PAGE] 

{Signature Page to the Purchase Agreement} 

 ANNEX A 

RULES OF CONSTRUCTION AND DEFINED TERMS 

Unless the context otherwise requires, in this Annex A and each Transaction Document (or other document) to which this Annex A is attached: 

 

	(a)	A term has the meaning assigned to it and an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP, unless any Transaction Document (or other document) otherwise provides.

  

	(b)	Where any payment is to be made, any funds are to be applied or any calculation is to be made under any Transaction Document (or other document) on a day that is not a Business Day, unless any Transaction Document (or
other document) otherwise provides, such payment shall be made, such funds shall be applied and such calculation shall be made on the succeeding Business Day, and payments shall be adjusted accordingly, including interest unless otherwise specified.

  

	(c)	Words of the masculine, feminine or neuter gender shall mean and include the correlative words of other genders. 

  

	(d)	The definitions of terms shall apply equally to the singular and plural forms of the terms defined. 

  

	(e)	The terms “include”, “including” and similar terms shall be construed as if followed by the phrase “without limitation”. 

 

	(f)	Unless otherwise specified, references to an agreement or other document include references to such agreement or document as from time to time amended, restated, reformed, supplemented or otherwise modified in
accordance with the terms thereof (subject to any restrictions on such amendments, restatements, reformations, supplements or modifications set forth in this Annex A or any Transaction Document (or other document)) and include any Annexes,
Exhibits and Schedules attached thereto. 

  

	(g)	References to any Law shall include such Law as from time to time in effect, including any amendment, modification, codification, replacement or reenactment thereof or any substitution therefor. 

 

	(h)	References to any Person shall be construed to include such Person’s successors and permitted assigns (subject to any restrictions on assignment, transfer or delegation set forth in this Annex A or any
Transaction Document (or other document)), and any reference to a Person in a particular capacity excludes such Person in other capacities. 

  

	(i)	The word “will” shall be construed to have the same meaning and effect as the word “shall”. 

  

	(j)	 The words “hereof”, “herein”, “hereunder” and similar terms when used in this
Annex A or any Transaction Document (or other document) shall refer to this Annex A or such Transaction Document (or other document) as a whole and not to any particular provision

  
 Annex A-1 

	 	
hereof or thereof, and Article, Section, Annex, Schedule and Exhibit references herein and therein are references to Articles and Sections of, and Annexes, Schedules and Exhibits to, the relevant
Transaction Document (or other document) unless otherwise specified. 

  

	(k)	In the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including” and each of the words “to” and “until” means
“to but excluding”. 

  

	(l)	References to any action, remedy or method of judicial proceeding for the enforcement of the rights of creditors or of security shall be deemed to include, in respect of any jurisdiction other than the State of New
York, references to such action, remedy or method of judicial proceeding for the enforcement of the rights of creditors or of security available or appropriate in such jurisdiction as shall most nearly approximate such action, remedy or method of
judicial proceeding described or referred to in the relevant Transaction Document (or other document). 

  
 Annex A-2 

 “$” means lawful money of the United States. 

“Accredited Investor” means an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3) or (a)(7) under
the Securities Act that is not (i) a QIB or (ii) a Person other than a U.S. person (as defined in Regulation S) that acquires Notes in reliance on Regulation S. 

“Additional Cash Reserve Amount” means $2,160,000. 

“Additional Notes” means the 12% Senior Secured Notes due 2023 of the Issuer in the initial Outstanding Principal Balance of
$34,000,000 that may be issued on the Subsequent Closing Date pursuant to Section 2.01(c) of the Indenture and Section 3.1 of the Purchase Agreements. 

“Additional Notes Price” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“Additional Securities Triggering Event” means a press release publicly announcing the completion of field trials for the
MosaiQTM IH Microarray demonstrating greater than 99% concordance for the detection of blood-group antigens and greater than 95% concordance for the detection of blood group antibodies, in each case when compared to predicate technologies, and
in each case to detect the following blood group antigens or blood group antibodies – A, B, D, C, c, E, e, Cw, K and k. 

“Affiliate” means, with respect to any specified Person, another Person that directly, or indirectly through one or more
intermediaries, controls, is controlled by or is under common control with the specified Person. For purposes of this definition, “control” means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a Person, whether through the ownership of Voting Stock, by contract or otherwise, and “controlled” has a meaning correlative thereto. 

“Anti-Money Laundering Laws” has the meaning set forth in Section 5.24 of the Purchase Agreements. 

“Business Day” means any day other than a Saturday, a Sunday or any other day on which banking institutions are authorized or
required by Law to close in New York City, Jersey, Channel Islands, or the city in which the Trustee’s corporate trust office is located. 

“Capital Stock” means (a) in the case of a corporation, corporate stock or shares, (b) in the case of an association or
business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock, (c) in the case of a partnership or limited liability company, partnership or membership interests (whether
general or limited) and membership rights, and (d) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, in each case to the extent
treated as equity in accordance with GAAP, but excluding from all of the foregoing any debt securities convertible into or exchangeable for Capital Stock whether or not such debt securities include any right of participation with Capital Stock. 

  
 Annex A-3 

 “Cash Reserve Account” means the Deposit Account (as defined in the Uniform
Commercial Code) in the name of the Trustee maintained at U.S. Bank, National Association, in the United States of America with account number 276831004. 

“Closing Date” means each of the Issue Date and the Subsequent Closing Date (if any). 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Collateral Agent” means U.S. Bank National Association in its capacity as “Collateral Agent” under the Indenture
and under the Security Documents and any successor thereto in such capacity. 
 “Collateral Agreement” means that certain
collateral agreement, dated as of the Issue Date, among the Obligors, the other subsidiary parties from time to time party thereto, the Trustee and the Collateral Agent. 

“Commission” means the U.S. Securities and Exchange Commission or any successor thereto. 

“Confidential Information” means, as it relates to the Purchaser (or its Affiliates), all information (whether written or
oral, or in electronic or other form) furnished before or after the Issue Date concerning the Purchaser or its Affiliates (including any of its equityholders), including any and all information regarding any aspect of the Purchaser’s business,
including its owners, funds, strategy, market views, structure, investors or potential investors. Such Confidential Information includes any IRS Form W-9 or W-8BEN (or
any similar type of form) provided by the Purchaser to the Issuer or its Affiliates. Notwithstanding the foregoing definition, “Confidential Information” shall not include information that is (v) independently developed or
discovered by any Obligor without use of or access to any information described in the second preceding sentence, as demonstrated by documentary evidence, (w) already in the public domain at the time the information is disclosed or has become
part of the public domain after such disclosure through no breach of the Purchase Agreement, (x) lawfully obtainable from other sources, (y) required to be disclosed in any document to be filed with any Governmental Authority or otherwise
required to be disclosed under applicable Law or judicial or administrative proceedings (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigation demand or similar process) or pursuant to requests from
regulatory agencies having oversight over any of the Obligors or (z) required to be disclosed by court or administrative order or under securities Laws applicable to any party to the Purchase Agreement or pursuant to the rules and regulations
of any stock exchange or stock market on which securities of any Obligor or its Affiliates or the Purchaser or its Affiliates may be listed for trading. 

“Confidentiality Agreement” means a confidentiality agreement substantially in the form of Exhibit E to the Indenture
or substantially in the form of any confidentiality agreement attached to Schedule 2 to an applicable Purchase Agreement. 

“Default” means any event that is, or after notice or passage of time or both would be, an Event of Default. 

  
 Annex A-4 

 “Definitive Security” has the meaning set forth in Appendix A to the
Indenture as of the Issue Date. 
 “DTC” means The Depository Trust Company (including its nominees). 

“Employee Benefit Plan” has the meaning set forth in Section 5.12 of the Purchase Agreements. 

“Environmental Laws” has the meaning set forth in Section 5.20 of the Purchase Agreements. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock). 
 “ERISA” means the U.S. Employee Retirement
Income Security Act of 1974, as amended. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated)
under common control with an Obligor within the meaning of Section 414(b) of the Code or Section 414(c) of the Code (and Section 414(m) of the Code and Section 414(o) of the Code for purposes of provisions relating to Section 412 of the Code).

 “Event of Default” has the meaning set forth in the Indenture as of the Issue Date. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

“Exchange Act Documents” has the meaning set forth in Section 5.4 of the Purchase Agreements. 

“FDA” means the U.S. Food and Drug Administration or any successor thereto. 

“Foreign Benefit Plan” has the meaning set forth in Section 5.12 of the Purchase Agreements. 

“GAAP” means generally accepted accounting principles in effect in the United States from time to time. 

“Global Security” has the meaning set forth in Appendix A to the Indenture as of the Issue Date. 

“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, arbitrator, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

  
 Annex A-5 

 “Guarantee” means any guarantee of the obligations of the Issuer under the
Indenture and the Notes by any Person in accordance with the provisions of the Indenture. 
 “Hazardous Material” has the
meaning set forth in Section 5.20 of the Purchase Agreements. 
 “Health Care Laws” has the meaning set forth in
Section 5.31 of the Purchase Agreements. 
 “HHS” has the meaning set forth in Section 5.28 of the Purchase
Agreements. 
 “Indenture” means that certain indenture for the Notes, dated as of the Issue Date, among the Obligors, the
Trustee and the Collateral Agent. 
 “INHAM Exemption” has the meaning set forth in Section 4.3(a)(iii)(z) of the Purchase
Agreements. 
 “Initial Cash Reserve Amount” means $5,040,000. 

“Intellectual Property” means, with respect to any Person, all intellectual property and proprietary rights in any
jurisdiction throughout the world, and all corresponding rights, presently or hereafter existing, including: (a) all inventions (whether or not patentable or reduced to practice), all improvements thereto, and all patents, patent applications,
industrial designs, industrial design applications, and patent disclosures, together with all reissues, continuations, continuations-in-part, revisions, divisionals,
extensions, and reexaminations in connection therewith; (b) all trademarks, trademark applications, tradenames, servicemarks, servicemark applications, trade dress, logos and designs, business names, company names, Internet domain names, and
all other indicia of origin, all applications, registrations, and renewals in connection therewith, and all goodwill associated with any of the foregoing; (c) all copyrights and other works of authorship, mask works, database rights and moral
rights, and all applications, registrations, and renewals in connection therewith; (d) all trade secrets, know-how, technologies, processes, techniques, new drug applications, abbreviated new drug
applications, biologic license applications or 351(k) biologic license applications (or equivalent non-U.S. applications of any of the foregoing), protocols, methods, industrial models, designs, drawings,
plans, specifications, research and development, and confidential information (including technical data, customer and supplier lists, manufacturing processes, pricing and cost information, and business and marketing plans and proposals); (e) all
software (including source code, executable code, data, databases, and related documentation); (f) all rights of privacy and publicity, including rights to the use of names, likenesses, images, voices, signatures and biographical information of real
persons; (g) licenses and commercial marketing rights; and (h) all copies and tangible embodiments or descriptions of any of the foregoing (in whatever form or medium). 

“IRS” means the U.S. Internal Revenue Service. 

“Issue Date” means the date hereof. 

“Issuer” has the meaning set forth in the preamble to the Purchase Agreements. 

  
 Annex A-6 

 “Laws” means, collectively, all international, foreign, federal, state and local
laws, statutes, treaties, rules, guidelines, regulations, ordinances, judgments, orders, writs, injunctions, decrees, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental
Authority, in each case whether or not having the force of law. 
 “Lien” means, with respect to any asset, any mortgage,
lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable Law (including any conditional sale or other title retention agreement, any lease in
the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the UCC (or equivalent statutes) of any jurisdiction); provided, that in no event
shall an operating lease be deemed to constitute a Lien. 
 “Material Adverse Effect” means a material adverse effect on
(a) the business, properties, management, financial condition, results of operations or prospects of the Obligors taken as a whole, or (b) the ability of the Obligors to perform their obligations under the Transaction Documents. 

“Material Contract” means a contract or other agreement that is required to be filed by the Issuer with the Commission
pursuant to Item 601(b)(1) of Regulation S-K as an exhibit to the Exchange Act Documents. 

“NASDAQ” means The NASDAQ Global Market. 

“Notes” means the 12% Senior Secured Notes due 2023 of the Issuer, substantially in the form of Exhibit A to the
Indenture, and shall include, for the avoidance of doubt, the Original Notes and the Additional Notes, as and to the extent issued pursuant to the terms and conditions of the Indenture and the Purchase Agreements. 

“Notes Collateral” means all property subject, or purported to be subject from time to time, to a Lien under any Security
Documents. 
 “Obligors” means, collectively, the Issuer and the Subsidiary Guarantors. 

“Original Notes” means the 12% Senior Secured Notes due 2023 of the Issuer in the initial Outstanding Principal Balance of
$84,000,000 that are issued on the Issue Date pursuant to Section 2.01(b) of the Indenture and Section 3.1 of the Purchase Agreements. 

“Original Notes Price” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“Other Agreements” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“Other Purchasers” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

  
 Annex A-7 

 “Outstanding Principal Balance” means, with respect to any Note or other
evidence of indebtedness outstanding, the total principal amount of such Note or other evidence of indebtedness unpaid and outstanding at any time. 

“Patents” means (i) an issued patent or a patent application, (ii) all registrations and recordings thereof,
(iii) all continuations and continuations-in-part to an issued patent or patent application, (iv) all divisions, patents of addition, reissues, renewals and
extensions of any patent, patent application, continuation or continuation-in-part and (v) all counterparts of any of the above in any jurisdiction. 

“Paying Agent” means an office or agency where Notes may be presented for payment maintained by the Issuer in accordance with
Section 2.04(a) of the Indenture. 
 “Payment Date” means each April 15 and October 15, commencing April 15,
2017. 
 “Permitted Lien” (a) as of the Issue Date, in respect of any Person, means: (i) pledges or deposits by such
Person under workmen’s compensation Laws, unemployment insurance Laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of indebtedness) or leases to which such Person is a
party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties
or for the payment of rent, in each case incurred in the ordinary course of business; (ii) Liens imposed by Law, such as carriers’, warehousemen’s, landlord’s and mechanics’ Liens, in each case for sums not yet due or being
contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; (iii) Liens for
taxes, assessments or other governmental charges not yet due or payable or subject to penalties for nonpayment or that are being contested in good faith by appropriate proceedings; (iv) Liens in favor of issuers of performance and surety bonds
or bid bonds or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; (v) minor survey exceptions, minor encumbrances,
easements or reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or
zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties that were not incurred in connection with indebtedness and that do not in the
aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; (vi) Liens on specific items of inventory or other goods and proceeds of any Person securing such
Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; (vii) deposits made in the ordinary course of
business to secure liability to insurance carriers; (viii) grants of software and other technology licenses in the ordinary course of business; (ix) Liens arising out of conditional sale, title retention, consignment or similar
arrangements for the sale of goods entered into in the ordinary course of business; (x) Liens arising by virtue of any statutory or common law provisions relating to banker’s Liens, rights of set-off
or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; and (xi) Liens created in favor of the Trustee or the Collateral Agent and (b) as of the Subsequent Closing Date, has
the meaning set forth in the Indenture as of the Issue Date. 

  
 Annex A-8 

 “Person” means an individual, corporation, partnership, association, limited
liability company, unincorporated organization, trust, joint stock company or joint venture, a Governmental Authority or any other entity. 

“Placement Agent” means Morgan Stanley & Co. LLC. 

“Plan Assets” has the meaning given to such term by Section 3(42) of ERISA and regulations issued by the U.S. Department
of Labor. 
 “Price” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“PTE” has the meaning set forth in Section 4.3(a)(iii)(x) of the Purchase Agreements. 

“PTO” means the U.S. Patent and Trademark Office. 

“Purchase Agreement” means that certain purchase agreement dated the Issue Date among the Obligors and the Purchaser party
thereto. 
 “Purchase Agreements” means, collectively, each Purchase Agreement and the Other Agreements. 

“Purchase Price” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“Purchaser” has the meaning set forth in Section 1.1 of the Purchase Agreements. 

“Purchasers” has the meaning set forth in Section 1.1 of the Purchase Agreements. 

“QIB” means a qualified institutional buyer within the meaning of Rule 144A. 

“QPAM Exemption” means PTE 84-14 (issued December 21, 1982, as subsequently
amended). 
 “Record Date” means each April 1 and October 1. 

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

“Regulatory Agencies” has the meaning set forth in Section 5.28 of the Purchase Agreements. 

“Relevant Intellectual Property” has the meaning set forth in Section 5.19 of the Purchase Agreements. 

“Responsible Officer” means, with respect to any Obligor, any manager, director or officer of such Obligor. 

  
 Annex A-9 

 “Royalty Right Agreements” means the separate royalty right agreements between
the Issuer and each Purchaser (or an Affiliate thereof). 
 “Royalty Rights” means the royalty rights sold by the Issuer to
each Purchaser (or an Affiliate thereof) pursuant to and subject to the terms and conditions of the Royalty Right Agreements. 

“Rule 144A” means Rule 144A under the Securities Act. 

“Safety Notices” has the meaning set forth in Section 5.32 of the Purchase Agreements. 

“Sanctioned Country” has the meaning set forth in Section 5.25 of the Purchase Agreements. 

“Sanctions” has the meaning set forth in Section 5.25 of the Purchase Agreements. 

“Sarbanes-Oxley Act” has the meaning set forth in Section 5.26 of the Purchase Agreements. 

“Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Security Documents” means the security agreements, pledge agreements, mortgages, collateral assignments and related
agreements, as amended, supplemented, restated, renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified from time to time, creating, perfecting or otherwise evidencing the security interests in the Notes Collateral as
contemplated by the Indenture. 
 “Similar Law” has the meaning set forth in Section 4.3(b) of the Purchase Agreements.

 “Source” has the meaning set forth in Section 4.3(a) of the Purchase Agreements. 

“Subsequent Closing Date” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“Subsidiary” means, with respect to any Person, (a) any corporation, association or other business entity (other than a
partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (b) any partnership, joint venture or limited
liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is a
controlling general partner or otherwise controls such entity. For purposes of clarity, a Subsidiary of a Person shall not include any Person that is under common control with the first Person solely by virtue of having directors, managers or
trustees in 

  
 Annex A-10 

 
common and shall not include any Person that is solely under common control with the first Person (i.e., a sister company with a common parent). 

“Subsidiary Guarantors” has the meaning set forth in the preamble to the Purchase Agreements. 

“Transaction Documents” means the Indenture, the Notes, the Royalty Right Agreements, the Guarantees, the Security Documents,
the Purchase Agreements, any intercreditor agreement in the form of Exhibit D to the Indenture, and each other agreement pursuant to which the Collateral Agent (or its agent) is granted a Lien to secure the obligations under the Indenture,
the Notes or the Guarantees. 
 “Trustee” has the meaning set forth in Section 3.1 of the Purchase Agreements. 

“Trustee Closing Account” means the account maintained with the Trustee at U.S. Bank National Association, ABA
No. 091000022, Account No. 1731 0332 1092, Ref. Quotient Limited Senior Notes, Attention: Alison D.B. Nadeau. 

“UCC” means the Uniform Commercial Code as in effect in the State of New York; provided, that, if perfection, the
effect of perfection or non-perfection or the priority of any security interest in any Notes Collateral is governed by the Uniform Commercial Code (or equivalent Law) as in effect in a jurisdiction other than
the State of New York, then “UCC” means the Uniform Commercial Code (or equivalent Law) as in effect from time to time in such other jurisdiction for purposes of the provisions relating to such perfection, effect of perfection or non-perfection or priority. 
 “U.S.” or “United States” means the
United States of America, its 50 states, each territory thereof and the District of Columbia. 
 “Voting Stock” of any
Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 

  
 Annex A-11

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