Document:

Exhibit 10.1

   

  

  

    

    

    SELLING INVESTOR SUPPORT AGREEMENT

    

    

    SELLING INVESTOR SUPPORT AGREEMENT (hereinafter referred to as this “Agreement”), dated as of [●], among Illumina, Inc., a Delaware corporation (“Parent”) and each of the undersigned stockholders (the “Selling

        Investors”) of GRAIL, Inc., a Delaware corporation (the “Company”), set forth on Schedule 1(b) hereto.

    

    

    WHEREAS, the Company, Parent, SDG Ops, Inc., a Delaware corporation and wholly owned subsidiary of Parent (“First Merger Sub”), and SDG Ops, LLC, a Delaware limited liability company and wholly owned subsidiary of
      Parent (“Second Merger Sub”), have entered into an Agreement and Plan of Merger dated as of September 20, 2020 (as it may be amended from time to time, the “Merger Agreement”), which provides for, among other things, the merger of First
      Merger Sub with and into the Company, with the Company continuing as the surviving corporation (the “Surviving Corporation”) (the “First Merger”), and immediately following the First Merger and as part of the same overall transaction as
      the First Merger, the Surviving Corporation will merge with and into Second Merger Sub, with Second Merger Sub being the surviving company of the Second Merger (the “Second Merger” and, together with the First Merger, the “Mergers”),
      and pursuant to which all shares of Company Stock issued and outstanding immediately prior to the Effective Time (other than as provided in Section 2.04(c) of the Merger Agreement and Appraisal Shares) will be converted into the right to receive the
      Merger Consideration;

    

    

    WHEREAS, each Selling Investor Beneficially Owns and is entitled to vote (or direct the voting of) the number of shares of Company Stock set forth opposite such Selling Investor’s name on Schedule 1(b) attached hereto;
      and

    

    

    WHEREAS, Parent desires that the Selling Investors agree, and the Selling Investors are willing to agree, on the terms and subject to the conditions set forth herein, (i) to not Transfer (as defined below) the Covered
      Shares (as defined below), and (ii) to vote or consent with respect to all of the Covered Shares in a manner so as to facilitate the consummation of the Mergers and the other Transactions.

    

    

    NOW, THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereto agree as follows:

    

    

    1.         Certain Definitions.  Capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Merger Agreement.  For all
      purposes of and under this Agreement, the following terms shall have the following respective meanings:

    

    

    (a)          “Beneficially Own” means, with respect to any securities, (i) having “beneficial ownership” of such securities for purposes of Rule 13d-3 or 13d-5 under the
      Exchange Act (or any successor statute or regulation) or (ii) having the right to become the Beneficial Owner of such securities (whether such right is exercisable immediately or only after the passage of time or the occurrence of conditions)
      pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, rights, warrants or options, or otherwise.

    

    

    
      
        

    

    
    

    

    (b)          “Covered Shares” means, with respect to any Selling Investor, (i) all shares of Company Stock set forth opposite such Selling Investor’s name on Schedule 1(b)
      attached hereto, and (ii) all shares of Company Stock that such Selling Investor comes to Beneficially Own during the period from the date of this Agreement through the Expiration Date, together with any voting securities or instruments of the
      Company, or other securities or interests exercisable for or convertible into shares of Company Stock or voting securities or instruments of the Company, that such Selling Investor comes to Beneficially Own during the period from the date of this
      Agreement through the Expiration Date (including by way of bonus issue, share dividend or distribution, subdivision, reclassification, recapitalization, consolidation, exchange, readjustment or other similar transaction or other change in the capital
      structure of the Company).

    

    

    (c)          “Expiration Date” means the earlier to occur of (i) the Effective Time and (ii) the termination of the Merger Agreement in accordance with its terms.

    

    

    (d)          “Transfer” means, with respect to any Selling Investor, that such Selling Investor sells, pledges, Encumbers, exchanges, assigns, grants an option with
      respect to, transfers, tenders or otherwise disposes of its Beneficial Ownership of Covered Shares.

    

    

    2.          Agreement Not to Transfer or Encumber.  Each Selling Investor hereby agrees that, from the date hereof until the Expiration Date, it shall not Transfer any Covered
      Shares, cause the conversion of any Covered Shares or deposit any Covered Shares into a voting trust or enter into any tender, voting or other agreement or arrangement with any Person with respect to any Covered Shares or grant a proxy or power of
      attorney with respect thereto (other than pursuant to this Agreement or the Drag-Along Consent) or give instructions with respect to the voting of the Covered Shares in any manner that is inconsistent with this Agreement or otherwise take any other
      action with respect to the Covered Shares that would in any way restrict, limit or interfere with the performance by the Selling Investors of their obligations hereunder or the transactions contemplated hereby, including the execution and delivery of
      the Written Consent approving the adoption of the Merger Agreement and approving the Transactions; provided, however, that the Stockholder may Transfer all or any portion of the Shares to one or more of its controlled Affiliates or a family
      member that, prior to such Transfer, executes and delivers to the Parent a written agreement, in form and substance reasonably acceptable to Parent, to assume all of the Selling Investor’s obligations hereunder and to be bound by the terms of this
      Agreement to the same extent as the Selling Investor is bound hereunder and to make each of the representations and warranties hereunder in respect of the Covered Shares transferred as the Selling Investor shall have made hereunder.  Notwithstanding
      the foregoing, following the receipt of the Company Stockholder Approvals, a Selling Investor may cause the conversion of any shares of Company Class B Common Stock into shares of Company Class A Common Stock in accordance with the Company’s
      certificate of incorporation.

    

    

    3.          Agreement to Consent and Approve.

    

    

    (a)          Each Selling Investor agrees to execute and deliver the Drag-Along Consent in such Selling Investor’s capacity as a holder of Company Preferred Shares, and (ii) to
      refrain from (x) withdrawing, revoking, rescinding, modifying or amending in any manner the Drag-Along Consent or (y) modifying or amending in any manner, or waiving compliance of, the Voting Agreement.

    

    

    
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    (b)          Each Selling Investor hereby irrevocably and unconditionally agrees, promptly after the Registration Statement (which shall include the Consent Solicitation
      Statement) is declared effective by the SEC (and in any event within five Business Days after notification thereof to such Selling Investor), to execute and deliver, or cause to be executed and delivered, a written consent substantially in the form
      attached hereto as Exhibit A (the “Written Consent”) approving the adoption of the Merger Agreement and approving the Transactions, including the Mergers, with respect to all of such Selling Investor’s Covered Shares.  The Selling
      Investor’s execution and delivery of the Written Consent shall be carried out in accordance with the DGCL and the organizational documents of the Company, so as to ensure that it is duly counted for purposes of recording the results of such consent.

    

    

    (c)          Each Selling Investor hereby irrevocably and unconditionally agrees that, from the date hereof until the Expiration Date, it shall vote or cause to be voted
      (including by written consent) all of such Selling Investor’s Covered Shares (i) in favor of (A) the adoption of the Merger Agreement and the approval of the Transactions and (B) any amendment to the Company’s certificate of incorporation or Investor
      Agreements to the extent contemplated in Section 9.04 of the Merger Agreement and otherwise as is reasonably necessary to permit to, or assist the Company in, complying with its obligations under Section 9.04 of the Merger Agreement and (ii) against
      (A) any Competing Proposal; (B) any amendment of the organizational documents of the Company which would prevent or materially delay the consummation of the Transactions, including the Mergers; or (C) any other action, agreement or transaction
      involving the Company that would reasonably be expected to prevent or materially delay the consummation of the Transactions, including the Mergers.

    

    

    (d)          Each Selling Investor agrees that, from the date hereof until the Expiration Date, in the event that a meeting of the stockholders of the Company is held regarding
      the Merger Agreement, the Transactions or any of the matters referred to in Section 3(c), it shall, or shall cause the holder of record of any of the Covered Shares of such Selling Investor on any applicable record date to, be present in person or
      represented by proxy at such meeting or otherwise cause all Covered Shares of such Selling Investor to be counted as present thereat for purposes of establishing a quorum, and shall vote all of such Selling Investor’s Covered Shares at such meeting
      in accordance with Section 3(c).

    

    

    (e)          Except for the delivery of the Written Consent expressly contemplated by this Agreement, prior to the Expiration Date, no Selling Investor shall call, seek to call
      or request the call of any meeting of stockholders of the Company with respect to any matter relating to the Mergers or any other Transaction, or take any action by consent relating to the Mergers or any other Transaction, other than as expressly
      contemplated by Section 3(c), whether pursuant to the DGCL, the organizational documents of the Company or otherwise.

    

    

    (f)          Notwithstanding anything to the contrary herein, in no event shall this Section 3 require or be construed so as to require any Selling Investor to vote or cause to
      be voted (including by written consent) such Selling Investor’s Covered Shares in favor of or against any stockholder vote to approve “parachute payments” (within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, and the
      Treasury Regulations thereunder) solicited in connection with the Transaction.

    

    

    
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    (g)          Notwithstanding anything to the contrary herein, in the event that a vote or consent of the stockholders of the Company is required in order to effect an amendment
      to the Merger Agreement that reduces the amount or changes the form of consideration payable in respect of each share of Company Capital Stock in the Mergers or otherwise amends the Merger Agreement in a manner adverse to the Selling Investor (any
      such amendment, an “Adverse Amendment”), the provisions of this Section 3 shall not apply with respect to the Selling Investor’s vote or consent with respect to such Adverse Amendment (and Selling Investor shall not be required to vote or
      consent to such Adverse Amendment); provided, however, that the term “Adverse Amendments” shall not include the amendments contemplated in Section 3(c)(i)(B).

    

    

    4.          Voided Acts. Any (i) Transfer (or purported Transfer) in breach of this Agreement or (ii) attempt by any Selling Investor to vote, or express consent or dissent
      with respect to (or otherwise to utilizing the voting power of), its Covered Shares in contravention of this Agreement shall be null and void ab initio.

    

    

    5.          Agreement Not to Solicit.  Each Selling Investor agrees that it shall not, and shall cause each of such Selling Investor’s controlled Affiliates not to, and shall
      instruct such Selling Investor’s and such Selling Investor’s controlled Affiliates’ Representatives not to, directly or indirectly, (a) solicit, initiate seek, or take any other action to facilitate or encourage the making, submission or announcement
      of any proposal that constitutes, or would be reasonably be expected to lead to, any Competing Proposal, (b) enter into, maintain, continue or participate in any discussions or negotiations with any Person or entity in furtherance of, or furnish to
      any Person any information or otherwise cooperate in any way with respect to, any Competing Proposal, (c) agree to, approve, endorse, recommend or consummate any Competing Proposal, (d) enter into, or propose to enter into, any Competing Transaction
      Agreement, or (e) resolve, propose or agree, or authorize or permit any Representative to do any of the foregoing.  Each Selling Investor shall, and each Selling Investor shall cause such Selling Investor’s controlled Affiliates and use such Selling
      Investor’s reasonable best efforts to cause such Selling Investor’s Representatives to, immediately cease and cause to be terminated any discussions and negotiations with any Person conducted heretofore with respect to any Competing Proposal or
      proposal that would reasonably be expected to lead to a Competing Proposal.

    

    

    6.          Commencement or Participation in Actions.  Each Selling Investor hereby agrees not to commence or join in, and to take all reasonable actions necessary to opt out
      of (if applicable), any Action against the Company and/or its directors and officers (for the avoidance of doubt, participating in the defense of such Action or any Action to enforce the Drag-Along is not prohibited by this Section 6) with respect
      to, any litigation (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or the Merger Agreement or the exercise of the Drag-Along in connection with the Transactions or (b) alleging a breach of any
      fiduciary duty of the Company Board or its members or any stockholder of the Company in connection with the Merger Agreement, the Transactions or the transactions contemplated hereby.

    

    

    
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    7.         Appraisal Rights or Rights of Dissent.  Each Selling Investor hereby waives, and agrees not to exercise or assert, any appraisal or dissenters’ rights it may have
      or could potentially have or acquire in connection with the Mergers under Section 262 of the DGCL and otherwise, whether or not such Selling Investor has previously made a written demand upon the Company and otherwise complied with the appraisal
      rights provisions of the DGCL.

    

    

    8.         Confidentiality.  Each Selling Investor agrees that, for a period of two years following the Expiration Date, such Selling Investor shall not, and shall cause its
      Affiliates, directors, officers, employees and agents not to divulge or convey to any third party, any of the Company’s confidential information, other than: (i) any of the Company’s confidential information that is or becomes generally available to
      the public other than as a result of an act or omission by such Selling Investor or its Affiliate, director, officer, employee or agent, (ii) any information that has been independently developed or conceived by the Selling Investor or its
      Affiliates, director, officer, employee or agent, (iii) is or has been made known or disclosed to the Selling Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company.  Notwithstanding
      the foregoing, each Selling Investor shall be permitted to make any such disclosure (a) to its directors, officers, employees and agents who reasonably need to know such information and who agree to keep such information confidential and are made
      aware of the Selling Investor’s obligations of confidentiality under this Agreement and (b) to the extent requested by a Governmental Authority or required by Law or legal process (in which case the Selling Investor will, to the extent reasonably
      practicable and legally permissible, provide Parent with advance notice of such required or requested disclosure, shall use commercially reasonable efforts to resist such disclosure, and, at the request of Parent, shall cooperate with Parent to, at
      Parent’s sole cost and expense, limit or prevent such disclosure).

    

    

    9.         Directors and Officers.  Each Selling Investor is entering into this Agreement solely in its capacity as a Beneficial Owner of Covered Shares, and in this regard,
      such Selling Investor shall not be deemed to make any agreement or understanding in this Agreement in such Selling Investor’s capacity as a director or officer of the Company, including with respect to Section 7.02 of the Merger Agreement.  The
      parties acknowledge and agree that nothing in this Agreement shall (i) restrict in any respect any actions taken by a Selling Investor or its designee who is a director or officer of the Company in his or her capacity as a director or officer of the
      Company or (ii) be construed to prohibit, limit or restrict the Selling Investor or its designee from exercising its fiduciary duties as a director or officer of the Company.

    

    

    10.       Irrevocable Proxy.

    

    

    (a)          Each Selling Investor hereby irrevocably grants to, and appoints, Parent, and any individual designated in writing by Parent, and each of them individually, as such
      Selling Investor’s proxy and attorney-in-fact (with full power of substitution), for and in the name, place and stead of such Selling Investor, to vote such Selling Investor’s Covered Shares, or execute a written consent or grant approval in respect
      of such Covered Shares, in a manner consistent with this Agreement from the date hereof until the Expiration Date, provided, however, for the avoidance of
      doubt, that such proxy and voting and related rights are limited to those matters set forth in clauses (b)-(d) of Section 3, and each Selling Investor shall retain at all times the right to vote such Selling Investor’s Covered Shares (or to direct
      how such Covered Shares shall be voted) in such Selling Investor’s sole discretion and without any other limitation on any matters not connected with the Transactions.  Each Selling Investor understands and acknowledges that Parent has entered into
      the Merger Agreement in reliance upon such Selling Investor’s execution and delivery of this Agreement.  Each Selling Investor hereby affirms that the irrevocable proxy set forth in this Section 10(a) is given to secure the performance of the duties
      of such Selling Investor under this Agreement.  Each Selling Investor hereby further affirms that the irrevocable proxy is coupled with an interest sufficient in law and such irrevocable proxy is executed and intended to be irrevocable in accordance
      with applicable Law and Section 2.09 of the Company’s bylaws until, and shall not be terminated by operation of Law or upon the occurrence of any other event other than, the termination of this Agreement
      pursuant to Section 19.  Each Selling Investor shall, upon written request by Parent, as promptly as practicable, execute and deliver to Parent a separate written instrument or proxy that embodies the terms of this irrevocable proxy set forth in this
      Section 10(a).  Each Selling Investor agrees not to grant any proxy that conflicts with or is inconsistent with the proxy granted to Parent in this Agreement.

    

    

    
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    (b)          Each Selling Investor hereby revokes (or agrees to cause to be revoked) any proxies that conflict with or are inconsistent with the proxy granted to Parent in this
      Agreement that such Selling Investor has heretofore granted with respect to the Covered Shares Beneficially Owned by such Selling Investor, other than any such proxy granted to Parent pursuant to the Drag-Along Consent and Voting Agreement.

    

    

    11.       [Reserved].

    

    

    12.       Representations and Warranties of Parent. Parent hereby represents and warrants as follows:

    

    

    (a)       Organization and Qualification. Parent is a legal entity duly organized, validly existing and in good standing under the Laws of the jurisdiction of its
      incorporation.

    

    

    (b)       Authority; Binding Agreement.  (i) Parent has all requisite power and authority to execute and deliver this Agreement,
      to perform its obligations hereunder and to consummate the transactions contemplated hereby, and (ii) the execution and delivery by Parent of this Agreement and the performance of Parent’s obligations and the consummation of the transactions
      contemplated hereby by Parent have been duly authorized by all necessary action, and no other actions on the part of Parent (or its board of directors or stockholders) are necessary to authorize or adopt this Agreement or to consummate the
      transactions contemplated by this Agreement.  This Agreement has been duly executed and delivered by Parent, and, assuming this Agreement constitutes a valid and binding obligation of the Selling Investors, constitutes a valid and binding obligation
      of Parent, enforceable against Parent in accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency (including all Laws relating to fraudulent transfers), reorganization, moratorium or similar Laws affecting creditors’
      rights generally and subject to the effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity).

    

    

    (c)          No Conflicts.  None of the execution and delivery by Parent of this Agreement, the performance by Parent of its
      obligations hereunder or the consummation by Parent of the transactions contemplated hereby does or would reasonably be expected to conflict with or result in a violation or breach of (i) Parent’s certificate of incorporation or bylaws, (ii) any
      other contract to which Parent is a party or by which Parent may be bound, except for violations, breaches or defaults that, individually or in the aggregate, would not reasonably be expected to in any material respect impair or adversely affect the
      ability of Parent to perform its obligations under this Agreement, or (iii) any Law applicable to Parent.

    

    

    
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    (d)          No Litigation.  There are no Actions pending or, to the knowledge of Parent, threatened against Parent, or any Order to which Parent is subject, except, in
      each case, for those that, individually or in the aggregate, would not reasonably be expected to prevent or materially and adversely impair or otherwise affect the ability of Parent to fully perform its obligations under this Agreement.

    

    

    13.       Representations and Warranties of the Selling Investors.  Each Selling Investor (severally and not jointly) hereby represents and warrants as follows:

    

    

    (a)          Organization and Qualification.  If such Selling Investor is not an individual, such Selling Investor is a legal entity duly formed or organized (as
      applicable), validly existing and in good standing under the Laws of the jurisdiction in which it is formed or organized, as applicable.

    

    

    (b)          Authority; Binding Agreement.  If such Selling Investor is an individual, he or she has full legal capacity, right
      and authority to execute and deliver this Agreement and to perform his or her obligations hereunder and consummate the transactions contemplated hereby.  If such Selling Investor is not an individual, (i) such Selling Investor has all requisite power
      and authority to execute and deliver this Agreement, to perform such Selling Investor’s obligations hereunder and to consummate the transactions contemplated hereby and (ii) the execution and delivery by such Selling Investor of this Agreement and
      the performance of such Selling Investor’s obligations and the consummation of the transactions contemplated hereby by such Selling Investor have been duly authorized by all necessary action, and no other actions on the part of such Selling Investor
      (or its governing body, board of directors, members, partners, stockholders or trustees, as applicable) are necessary to authorize or adopt this Agreement or to consummate the transactions contemplated by this Agreement.  This Agreement has been duly
      executed and delivered by such Selling Investor, and, assuming this Agreement constitutes a valid and binding obligation of Parent, constitutes a valid and binding obligation of such Selling Investor, enforceable against such Selling Investor in
      accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency (including all Laws relating to fraudulent transfers), reorganization, moratorium or similar Laws affecting creditors’ rights generally and subject to the
      effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity).

    

    

    (c)          No Conflicts.  None of the execution and delivery by such Selling Investor of this Agreement, the performance by such
      Selling Investor of such Selling Investor’s obligations hereunder or the consummation by such Selling Investor of the transactions contemplated hereby does or would reasonably be expected to conflict with or result in a violation or breach of, or in
      default under, (i) if such Selling Investor is not an individual, such Selling Investor’s articles or certificate of formation, incorporation or organization, operating agreement, bylaws or comparable organizational documents, as applicable, each in
      its currently effective form as amended from time to time, (ii) any other contract to which such Selling Investor is a party or by which such Selling Investor may be bound, including any voting agreement or voting trust, or (iii) any Law applicable
      to such Selling Investor, except, in each case, for violations, breaches or defaults that, individually or in the aggregate, would not reasonably be expected to (x) in any material respect impair or adversely affect the ability of such Selling
      Investor to perform such Selling Investor’s obligations under this Agreement on a timely basis or (y) prevent or materially delay the consummation of the Transactions.  The execution, delivery and performance by such Selling Investor of this
      Agreement, and the consummation by such Selling Investor of the transactions contemplated hereby, require no consent or action by or in respect of, or filing with, any Governmental Authority.

    

    

    
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    (d)          Ownership of Shares.  Such Selling Investor (i) is the lawful record and Beneficial Owner of the shares of Company
      Stock set forth opposite such Selling Investor’s name on Schedule 1(b) attached hereto and has, and at all times prior to the Expiration Date will have, the sole power to vote (or cause to be voted), Transfer, or demand or waive any appraisal rights
      with respect to, such shares of Company Stock, all of which are free and clear of, and not subject to, any Encumbrances (other than those (A) created by this Agreement, (B) applicable to such Selling Investor’s Covered Shares that may exist pursuant
      to securities Laws or (C) any proxies that are not required by Section 10(b) to be revoked and which do not relate to the Mergers, the Transactions or Competing Proposals) and (ii) as of the date hereof, does not Beneficially Own or have the right to
      vote (or cause the voting of) any shares of any class of Company Stock or other securities of the Company or any interest therein or any voting rights with respect to any securities of the Company other than the shares of Company Stock set forth
      opposite such Selling Investor’s name on Schedule 1(b) attached hereto.

    

    

    (e)          [Reserved].

    

    

    (f)          No Litigation.  As of the date hereof, there are no Actions pending or, to the knowledge of such Selling Investor, threatened against such Selling Investor,
      or any Order to which such Selling Investor is subject, except, in each case, for those that, individually or in the aggregate, would not reasonably be expected to (i) prevent or impair or materially delay the ability of such Selling Investor to
      fully perform such Selling Investor’s obligations under this Agreement on a timely basis or (ii) prevent or materially delay the consummation of the Transactions.

    

    

    (g)          No Finder’s Fees.  No broker, investment banker, financial advisor, finder, agent or other Person is entitled to any broker’s, finder’s, financial advisor’s
      or other similar fee or commission payable by the Company in connection with this Agreement based upon arrangements made by or on behalf of such Selling Investor in his, her or its capacity as a stockholder of the Company.

    

    

    14.        Disclosure and Communications.

    

    

    (a)          Each Selling Investor hereby consents to and authorizes the publication and disclosure of such Selling Investor’s identity and ownership, this Agreement and the
      nature of such Selling Investor’s commitments, arrangements and understandings pursuant to this Agreement and such other information pertinent to such disclosure, including the filing of this Agreement, by Parent and the Company in the Registration
      Statement, Consent Solicitation Statement or other disclosure document required by applicable Law to be filed with the SEC or other Governmental Authority in connection with this Agreement, the Merger Agreement or the Transactions, and agrees to
      reasonably cooperate with Parent in connection with such filings.

    

    

    
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    (b)          The Selling Investors shall not issue or make any press release or public announcement related to this Agreement, the Merger Agreement or the Transactions, or any
      other announcement or communication to the employees, customers or suppliers of the Company or any of its Subsidiaries, in each case without the approval of Parent, unless required by applicable Law; provided, that, each Selling Investor may
      make public statements that do not contain any information relating to the Transactions that has not been previously announced or made public in accordance with this Agreement or the Merger Agreement so long as no such public statement (i) disparages
      the Transactions, (ii) encourages other holders of capital stock of the Company to vote against, or withhold their vote or consent on, the Transactions, including the adoption of the Merger Agreement, or (iii) encourages other holders of capital
      stock of the Company to exercise appraisal rights.

    

    

    15.        No Ownership Interest.  Nothing contained in this Agreement shall be deemed to vest in Parent any direct or indirect ownership or incidence of ownership of or with
      respect to any Covered Shares.  All ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to the applicable Selling Investor, and, except as otherwise provided herein, Parent shall not have any
      authority to direct any Selling Investor in the voting or disposition of any Covered Shares.  For the avoidance of doubt, each Selling Investor shall be entitled to any dividends or other distributions declared by the Company Board with respect to
      such Selling Investor’s Covered Shares having a record date prior to the Effective Time.

    

    

    16.        [Reserved].

    

    

    17.        Stop Transfer Instructions.  Each Selling Investor shall not request that the Company register the Transfer (book-entry or otherwise) of any certificated or
      uncertificated interest representing any of such Selling Investor’s Covered Shares, unless such Transfer is made in compliance with this Agreement.  Each Selling Investor hereby authorizes Parent to direct the Company to impose stop orders to prevent
      the Transfer of any Covered Shares on the books of the Company in violation of this Agreement.

    

    

    18.        [Reserved.]

    

    

    19.        Termination.  This Agreement, and all rights and obligations of the parties hereunder, shall terminate and shall have no further force or effect upon the
      termination of the Merger Agreement in accordance with its terms; provided, however, that (i) this Section 19 and Sections 1, 14 and 23 shall survive any termination of the Agreement and (ii) Sections 2, 3, 4, 5, 10 and 17 shall
      terminate and shall have no further force or effect as of the Expiration Date.  Notwithstanding the foregoing, nothing set forth in this Section 19 or elsewhere in this Agreement shall relieve either party hereto from liability, or otherwise limit
      the liability of a Selling Investor, for any intentional breach of this Agreement prior to such termination.

    

    

    
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    20.        Transaction Documents.  Each Selling Investor acknowledges that the Merger Agreement and the other Transaction Documents may be amended in accordance with the terms
      and conditions set forth in the Merger Agreement and the other Transaction Documents.

    

    

    21.        Waiver.  Each Selling Investor hereby waives any and all notice, information and consent requirements, as well as any right of first refusal, right of first offer,
      right of first negotiation, right restricting share transfers, redemption right, co-sale right, registration right, preemptive right and other similar rights, that may be applicable to, or triggered by, the Transactions, including the Mergers, the
      Merger Agreement, the other Transaction Documents and any of the transactions contemplated thereby that are contained in the Company’s organizational documents or any contractual obligation between the Company and such Selling Investor, or under
      applicable Law.

    

    

    22.        Release by Selling Investors.

    

    

    (a)          Effective as of the Effective Time, each Selling Investor, on behalf of himself, herself or itself and each of his, her or its
        past, present and future controlled Affiliates, parent(s) and subsidiary companies, representatives, and assigns (each, a “Selling Investor Releasing Party” and, collectively, the “Selling Investor Releasing Parties”) hereby
        absolutely, unconditionally and irrevocably releases, acquits and forever discharges the Company and each of its respective past, present and future controlled Affiliates, parent(s) and subsidiary companies, joint ventures, predecessors, successors
        and assigns, and their respective past, present and future representatives, investors, equityholders, insurers and indemnitees, firms, corporations, limited liability companies, partnerships, trusts, associations, organizations, stockholders,
        members, managers, directors, officers, employees, partners, trustees, principals, consultants, contractors, family members, heirs, executors, administrators, predecessors, successors and assigns (collectively the “Selling Investor Released
          Parties”), of and from any and all manner of action or inaction, cause or causes of action, Actions, Encumbrances, contractual obligations, promises, liabilities or damages (whether for compensatory, special, incidental or punitive damages,
        equitable relief or otherwise) of any kind or nature whatsoever, past, present or future, at law, in equity or otherwise (including with respect to conduct which is negligent, grossly negligent, willful, intentional, with or without malice, or a
        breach of any duty, applicable Law or rule), whether known or unknown, whether fixed or contingent, whether concealed or hidden, whether disclosed or undisclosed, whether liquidated or unliquidated, whether foreseeable or unforeseeable, whether
        anticipated or unanticipated, whether suspected or unsuspected (“Claims”), which such Selling Investor Releasing Parties, or any of them, ever have had or ever in the future may have against the Selling Investor Released Parties, or any of
        them, in each case, to the extent arising solely as a result of the ownership or purported ownership of any of Company Stock, Company Stock Options or other security or interest of the Company and which, in each case, are based on acts, events or
        omissions occurring prior to or contemporaneously with the Effective Time (the “Selling Investor Released Claims”); provided, however, that the foregoing release shall not release, impair or diminish, and the term “Selling
        Investor Released Claims” shall not include, in any respect (i) the Selling Investor’s right pursuant to the Transaction Documents, including the right to receive its respective portion of the Merger Consideration; (ii) any Claims for
        indemnification, insurance benefits, reimbursement or advancement of expenses in such Selling Investor Releasing Party’s capacity as a director, officer or employee of the Company under the Company’s organizational documents or any indemnification
        agreement in effect as of the date hereof (or any fiduciary insurance policy maintained by the Company or the Surviving Corporation for the benefit of the Selling Investor, or any indemnification agreements with the Selling Investor or its board
        designee) with respect to any act, omission, event or transaction occurring prior to or contemporaneously with the Effective Time; or (iii) the rights of any Selling Investor Releasing Party in his or her capacity as an employee of the Company.

    

    

    
      10

      
        

    

    

    

    

    

    (b)          Each Selling Investor Releasing Party represents and acknowledges that he, she or it has read this release and the Merger
        Agreement and other Transaction Documents and understands their terms and has been given sufficient opportunity to review this release and the Transaction Documents and to ask questions of the Company’s Representatives. Each Selling Investor
        Releasing Party further represents that, in signing this release, he, she or it does not rely, and has not relied, on any representation or statement made by any Representative of the Company or any other Person with respect to the subject matter,
        basis or effect of this release or otherwise, except such express representations and warranties set forth in the Merger Agreement or this Agreement.

     

      

    (c)          Without limiting the generality of Section 22(a), with respect to the Selling Investor Released Claims, each Selling Investor
        Releasing Party acknowledges that he, she or it is familiar with Section 1542 of the Civil Code of the State of California (“Section 1542”) and hereby expressly waives all rights under Section 1542 and any similar applicable Law or common
        law principle in any applicable jurisdiction prohibiting or restricting the waiver of unknown claims.  Section 1542 reads as follows:

    

    

    “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND
      THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

    

    

    (d)          Notwithstanding the provisions of Section 1542 or any similar applicable Law or common law principle in any applicable
        jurisdiction, each Selling Investor Releasing Party expressly acknowledges that the foregoing release is intended to include in its effect all Claims within the scope of such release which any Selling Investor Releasing Party does not know or
        suspect to exist in his, her or its favor against any of the Selling Investor Released Parties (including, without limitation, unknown and contingent Claims), and that the foregoing release expressly contemplates the extinguishment of all such
        Claims (except to the extent expressly set forth in this Section 22).

    

    

    23.       Miscellaneous and General.

    

    

    (a)          Amendments; Waivers, Etc.  This Agreement may not be amended, changed, supplemented or otherwise modified with respect to any Selling Investor, except upon
      the execution and delivery of a written agreement executed by each of Parent and such Selling Investor.  Any agreement on the part of any party to any waiver or any extension of time for performance shall be valid only if set forth in an instrument
      in writing signed on behalf of such party.  No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further
      exercise thereof or the exercise of any other right, power or privilege.  Except as otherwise herein provided, the rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by applicable Law or
      equity, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy.

    

    

    
      11

      
        

    

    

    

    (b)        Counterparts; Effectiveness.  This Agreement may be executed in any number of counterparts (including by facsimile or
      by attachment to electronic mail in portable document format (PDF)), each such counterpart being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement, and shall become effective when one or more
      counterparts have been signed by each of the parties hereto and delivered to the other parties hereto.

    

    

    (c)        Governing Law; WAIVER OF JURY TRIAL.

    

    

    (i)          This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice or conflict of law
      provisions or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.  All Actions arising out of or relating to this Agreement or the
      transactions contemplated hereby shall be heard and determined exclusively in the Court of Chancery of the State of Delaware and any state appellate court therefrom within the State of Delaware ((or in the event, but only in the event, that the Court
      of Chancery of the State of Delaware does not have subject matter jurisdiction, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over the action or proceeding is vested exclusively in the
      federal courts of the United States of America, the United States District Court for the District of Delaware, and, in each case, the appellate court(s) therefrom).  The parties hereto hereby (A) irrevocably submit to the exclusive jurisdiction of
      the Court of Chancery of the State of Delaware and any state appellate court therefrom within the State of Delaware ((or in the event, but only in the event, that the Court of Chancery of the State of Delaware does not have subject matter
      jurisdiction, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over the action or proceeding is vested exclusively in the federal courts of the United States of America, the United States
      District Court for the District of Delaware, and, in each case, the appellate court(s) therefrom) for the purpose of any Action arising out of or relating to this Agreement or the transactions contemplated hereby brought by any party hereto,
      (B) irrevocably waive, and agree not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above‐named courts, that its property is exempt or immune from
      attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by the above‐named courts, and (C) agree
      that such party will not bring any Action arising out of or relating to this Agreement or the transactions contemplated hereby in any court other than the Court of Chancery of the State of Delaware (or in the event, but only in the event, that the
      Court of Chancery of the State of Delaware does not have subject matter jurisdiction, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over the action or proceeding is vested exclusively in
      the federal courts of the United States of America, the United States District Court for the District of Delaware).  Service of process, summons, notice or document to any party’s address and in the manner set forth in Section 23(d) shall be
      effective service of process for any such action.

    

    

    
      12

      
        

    

    

    

    (ii)          EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE, EACH
      OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
      AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.  EACH OF THE PARTIES HERETO CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
      THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER
      INTO THIS AGREEMENT AND THE TRANSACTIONS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS IN THIS SECTION 23(C)(II).

    

    

    (d)          Notices.  Notices, requests, instructions or other documents to be given under this Agreement shall be in writing and
      shall be deemed given, (i) on the date sent by e-mail of a PDF document if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient, (ii) when delivered, if delivered
      personally to the intended recipient, and (iii) one Business Day later, if sent by overnight delivery via a national courier service (providing proof of delivery), and in each case, addressed to a party at the following address for such party:

    

    

    if to Parent:

    

    

    
      	
               

            	
              Illumina, Inc.

              5200 Illumina Way

              San Diego, California  92122

            
	
               

            	Attention:	
              Charles E. Dadswell, Senior Vice President and General 

              Counsel

            
	 	Telephone:	858-202-4500
	 	Facsimile:	858-202-4545
	 	Email:	CDadswell@illumina.com
	 	 	legalnotices@illumina.com

    

    

    with copies to (which shall not constitute notice):

    
      

      

      
        	
                 

              	Cravath, Swaine & Moore LLP
	 	Worldwide Plaza
	 	825 Eighth Avenue

        

        

        

        

        
          13

          
            

        

        

        

        	 	New York, NY 10019
	
                 

              	Attention:	Faiza J. Saeed, Esq.
	 	

              	Ting S. Chen, Esq.
	 	Email:	fsaeed@cravath.com
	 	

              	tchen@cravath.com

      

    

    

    if to a Selling Investor, to such Selling Investor at the address corresponding to such Selling Investor’s name on Schedule 1(b) with copies (which shall not constitute notice) to the Company (in accordance with Section
      11.02 of the Merger Agreement) and to its counsel:

    
      
        

        

        
          	
                   

                	Latham & Watkins LLP
	 	355 South Grand Avenue, Suite 100
	 	Los Angeles, California  90071-1560
	
                   

                	Attention:	Alex W. Voxman, Esq.
	 	

                	Andrew Clark, Esq.
	 	Email:	alex.voxman@lw.com
	 	

                	andrew.clark@lw.com

        

      

    

    

    Notice may be given to such other persons or addresses as may be designated in writing by the party to receive such notice as provided above.

    

    

    (e)          Entire Agreement.  This Agreement (including any Schedules hereto) and the Merger Agreement constitute the entire
      agreement, and supersedes all other prior agreements, understandings, representations and warranties both written and oral, among the parties hereto, with respect to the subject matter hereof.

    

    

    (f)          Parties in Interest; No Third Party Beneficiaries.  Subject to Section 23(i), and without relieving any party of any
      obligation hereunder, this Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and permitted assigns. This Agreement is not intended to, and does not, confer upon any Person other than
      the parties hereto any rights or remedies hereunder.

    

    

    (g)          Severability.  The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any
      provision shall not affect the validity or enforceability of the other provisions hereof.  If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or unenforceable, (i) a suitable and equitable
      provision negotiated in good faith by the parties hereto shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (ii) the remainder of this
      Agreement and the application of such provision to other Persons or circumstances shall not, subject to clause (i) above, be affected by such invalidity or unenforceability, except as a result of such substitution, nor shall such invalidity or
      unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

    

    

    
      14

      
        

    

    

    

    (h)        Interpretation.

    

    

    (i)          The Section headings or captions herein are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise
      affect any of the provisions hereof.  Where a reference in this Agreement is made to a Section or Schedule, such reference shall be to a Section of or Schedule to this Agreement unless otherwise indicated.  Whenever the words “include”, “includes” or
      “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”.  The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a
      whole and not to any particular provision of this Agreement.  The word “or” when used in this Agreement is not exclusive. The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase
      shall not mean simply “if”.  All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein.  The definitions contained in this
      Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term.  Any statute defined or referred to herein means such statute as from time to time
      amended, modified or supplemented, including by succession of comparable successor statutes.  Any agreement or instrument defined or referred to herein includes all attachments thereto and instruments incorporated therein.

    

    

    (ii)          The parties have participated jointly in negotiating and drafting this Agreement.  In the event that an ambiguity or a question of intent or interpretation arises, this
      Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

    

    

    (i)          Assignment.  This Agreement shall not be assignable by operation of law or otherwise without the prior written consent of
      each of the parties.  Any purported assignment in contravention of the preceding sentence shall be null and void.

    

    

    (j)          Expenses.  All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense, whether or not the
      transactions contemplated by this Agreement or the Merger Agreement are consummated.

    

    

    (k)          Specific Performance.  The parties hereto acknowledge and agree that irreparable damage would occur and that the parties
      would not have any adequate remedy at law if any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor. 
      It is accordingly agreed that Parent shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the performance of the terms and provisions hereof in any court referred to in Section 23(c),
      without proof of actual damages (and each party hereby waives any requirement for the security or posting of any bond in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity.  The
      parties further agree not to assert that a remedy of specific enforcement is an unenforceable, invalid, contrary to applicable Law or inequitable remedy for any reason, and not to assert that a remedy of monetary damages would provide an adequate
      remedy for any such breach or that Parent otherwise has an adequate remedy at law.

    

    

    
      15

      
        

    

    

    

    IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

    

    

    
      	 	ILLUMINA, INC.	 
	 	 	 	 
	

            	
              By: 

            	/s/ Francis deSouza

            	 
	 	 	Name:	Francis deSouza

            	 
	 	 	Title:	President and Chief Executive Officer

            	 

    

  

  
    

    

    

    

    

    

    

    

    

    

    

    
      [Parent Signature Page to Selling Investor Support Agreement]

    

    
      
        

    

    

    
      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          
            	 	
                    6 Dimensions Capital, L.P.

                     

                    By: 6 Dimensions Capital GP, LLC

                    Its: General Partner

                  	 
	 	 	 	 
	

                  	
                    By: 

                  	/s/ Leon Chen 	 
	 	 	Name:	Leon Chen 	 
	 	 	Title:	Director 	 

          

        

        

        

        

        

        
          
            
              	 	
                      6 Dimensions Affiliates Fund, L.P.

                       

                      By: 6 Dimensions Capital GP, LLC

                      Its: General Partner

                    	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Leon Chen 	 
	 	 	Name:	Leon Chen 	 
	 	 	Title:	Director 	 

            

          

          

          

        

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          
            	 	Absolute Partners Master Fund Limited	 
	 	 	 	 
	

                  	
                    By: 

                  	/s/ Henry Li 	 
	 	 	Name:	Henry Li	 
	 	 	Title:	Director	 

          

        

        
          

          

          

          

          

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          

          

          
            	 	
                    Arch Venture Fund IX Overage, L.P.

                     

                    By: ARCH Venture Partners IX Overage, L.P.

                    Its: General Partner

                     

                    By: ARCH Venture Partners IX, LLC

                    Its: General Partner

                  	 
	 	 	 	 
	

                  	
                    By: 

                  	
                    /s/ Mark McDonnell

                  	 
	 	 	Name:	
                    Mark McDonnell

                  	 
	 	 	Title:	
                    Managing Director

                  	 

          

        

        

        

        
          
            

            

            
              	 	
                      Arch Venture Fund VIII, L.P.

                       

                      By: ARCH Venture Partners VIII, L.P.

                      Its: General Partner

                       

                      By: ARCH Venture Partners VIII, LLC

                      Its: General Partner

                    	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Mark McDonnell 	 
	 	 	Name:	
                      Mark McDonnell

                    	 
	 	 	Title:	
                      Managing Director

                    	 

            

          

          

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        

        

        
          
            
              	 	 	 	 
	

                    	
                       

                    	/s/ Hal Barron 	 
	 	 	Hal Barron	 
	 	 	

                    	

                    	 

            

          

          
            

            

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          
            	 	Biomatics Capital Partners, L.P.	 
	 	 	 	 
	

                  	
                    By: 

                  	/s/ Boris Nikolic 	 
	 	 	Name:	Boris Nikolic 	 
	 	 	Title:	Managing Director 	 

          

        

        
          

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          

          

          
            
              
                	 	 	 	 
	

                      	
                         

                      	/s/ Hans Bishop 	 
	 	 	Hans Bishop	 
	 	 	

                      	

                      	 

              

            

            
              

              

            

          

        

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      

      

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              	 	Bristol-Myers Squibb Company	 
	 	 	 	 
	

                    	
                      By: 

                    	s/ David Elkins 	 
	 	 	Name:	David Elkins	 
	 	 	Title:	Executive Vice President & CFO	 

            

          

          
            

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	 	 	 
	

                        	
                           

                        	/s/ Brook Byers 	 
	 	 	Brook Byers	 
	 	 	

                        	

                        	 

                

              

              
                

                

              

            

          

          

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                	 	Celgene Switzerland LLC	 
	 	 	 	 
	

                      	
                        By: 

                      	s/ David Elkins 	 
	 	 	Name:	David Elkins	 
	 	 	Title:	Executive Vice President & CFO	 

              

            

            
              

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	Creekstone Investment, LLC	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Paul dauber 	 
	 	 	Name:	Paul Dauber	 
	 	 	Title:	Manager

                        	 

                

              

              
                

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      

      

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	
                          Decheng Capital China Life Sciences USD Fund I, L.P.

                           

                          By its General Partner, Decheng Capital China Management I (Cayman)

                        	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

                

              

              
                

                

              

            

          

        

        
          
            
              
                
                  
                    

                    

                    
                      
                        
                          	 	
                                  
                                    Decheng Capital China Life Sciences USD Fund II, L.P. (as stockholder, and as Proxyholder for Denlux Diagnostics
                                        Invest Inc. and Denlux Capital Inc.)

                                      

                                    

                                      

                                    By its General Partner,

                                     
                                    Decheng Capital China Management II (Cayman)

                                  

                                	 
	 	 	 	 
	

                                	
                                  By: 

                                	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

                        

                      

                      
                        

                        

                        

                        

                        

                        

                        

                        

                      

                    

                  

                

              

            

          

        

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

              
                
                  
                    	 	Deepbay Holdings Ltd.	 
	 	 	 	 
	

                          	
                            By: 

                          	/s/ Alexander West 	 
	 	 	Name:	Alexander West	 
	 	 	Title:	Director	 

                  

                

                
                  

                  

                

              

            

          

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              	 	Denlux Capital Inc.	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

            

          

        

      

      

      

      
        
          
            
              	 	Denlux Diagnostics Invest Inc.	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

            

          

        

      

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              
                	 	The Duane Family Trust	 
	 	 	 	 
	

                      	
                        By: 

                      	/s/ Cathy Friedman 	 
	 	 	Name:	Cathy Friedman	 
	 	 	Title:	Trustee	 

              

            

          

        

        

        

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                
                  	 	Explore Investments LLC	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Paul Dauber 	 
	 	 	Name:	Paul Dauber	 
	 	 	Title:	Manager

                        	 

                

              

            

          

          

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                	 	 	 	 
	

                      	
                         

                      	/s/ Kaye Foster 	 
	 	 	Kaye Foster	 
	 	 	

                      	

                      	 

              

            

            
              

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	 	 	 
	

                        	
                           

                        	/s/ Cathy Friedman 	 
	 	 	Cathy Friedman	 
	 	 	

                        	

                        	 

                

              

              
                

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

              
                
                  
                    	 	 	 	 
	

                          	
                             

                          	/s/ Maykin Ho 	 
	 	 	Maykin Ho	 
	 	 	

                          	

                          	 

                  

                

              

            

          

        

        

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                
                  	 	Huber Family QTIP Trust U/A/D 09/19/2012	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                        	 

                

              

            

          

          

          

        

      

      
        
          
            
              
                
                  
                    	 	
                            Huber Vossough 2020 GRAT U/A/D 08/18//2020

                          	 
	 	 	 	 
	

                          	
                            By: 

                          	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                          	 

                  

                

              

            

            

            

          

        

        
          
            
              
                
                  
                    
                      	 	
                              
                                Maywood Trust U/A/D 09/19/2012

                              

                            	 
	 	 	 	 
	

                            	
                              By: 

                            	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                            	 

                    

                  

                

              

              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                 The Jeffrey T. Huber 2018 Grantor Retained Annuity Trust U/A/D 3/12/2018

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                              	 

                      

                    

                  

                

                

                

                

                

              

            

          

        

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

          

        

        
          
            
              
                
                  
                    
                      	 	
                               Illumina, Inc.

                            	 
	 	 	 	 
	

                            	
                              By: 

                            	/s/ Francis deSouza	 
	 	 	Name:	Francis deSouza	 
	 	 	Title:	President & CEO	 

                    

                  

                

              

              

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                 Johnson & Johnson UK Treasury Company Limited

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Luc Freyne	 
	 	 	Name:	Luc Freyne	 
	 	 	Title:	Director

                              	 

                      

                    

                  

                

                

                

                

              

            

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

              
                
                  
                    	 	 	 	 
	

                          	
                             

                          	/s/ Kwan Chee Chan 	 
	 	 	Kwan Chee Chan

                          	 
	 	 	

                          	

                          	 

                  

                

                
                  

                  

                

              

            

          

        

        

        

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                Madrone Opportunity Fund, L.P.

                                 

                                 
                                By: Madrone Capital Partners, LLC

                                 
                                Its: General Partner

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Greg Penner	 
	 	 	Name:	Greg Penner	 
	 	 	Title:	Manager

                              	 

                      

                    

                  

                

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

          

        

        
          
            
              
                
                  
                    
                      	 	Merck Sharp & Dohme Corp.	 
	 	 	 	 
	

                            	
                              By: 

                            	/s/ Benjamin Thorner	 
	 	 	Name:	Benjamin Thorner	 
	 	 	Title:	SVP & Head of BD&L, MRL	 

                    

                  

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	Milky Way Investments Group Limited	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Despoina Zinonos	 
	 	 	Name:	Despoina Zinonos	 
	 	 	Title:	President	 

                      

                    

                  

                

              

            

          

        

        

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	Rainbow Horizon Limited	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Jackson Law	 
	 	 	Name:	Jackson Law	 
	 	 	Title:	Managing Partner	 

                      

                    

                  

                

              

            

          

        

        

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              
                

                

                
                  
                    
                      	 	 	 	 
	

                            	
                               

                            	
                              /s/ William Rastetter

                            	 
	 	 	
                              William Rastetter

                            	 
	 	 	

                            	

                            	 

                    

                  

                  
                    
                      
                        
                          
                            
                              

                              

                            

                          

                          
                            
                              
                                
                                  
                                    
                                      
                                        	 	
                                                The Rastetter Family Trust DTD Sept. 2, 2010, William and Marisa Rastetter, Trustees

                                              	 
	 	 	 	 
	

                                              	
                                                By: 

                                              	/s/ William Rastetter	 
	 	 	Name:	
                                                William Rastetter

                                              	 
	 	 	Title:	Trustee

                                              	 

                                      

                                    

                                  

                                

                              

                            

                          

                        

                        

                      

                      
                        	

                              	
                                By: 

                              	
                                /s/ Marisa Rastetter

                              	 
	 	 	Name:	
                                Marisa Rastetter

                              	 
	 	 	Title:	Trustee

                              	 

                      

                    

                  

                

              

            

          

          

          

        

      

      
        
          
            
              
                
                  
                    
                      
                        
                          	 	
                                  The Investment 2002 Trust dated November 11, 2002

                                	 
	 	 	 	 
	

                                	
                                  By: 

                                	
                                  /s/ William Rastetter

                                	 
	 	 	Name:	
                                  William Rastetter

                                	 
	 	 	Title:	
                                  Chairman, Neurocrine

                                	 

                        

                      

                    

                  

                

              

            

          

          

        

        

        

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                
                                  Sutter Hill Associates, LLC, a California limited liability company

                                

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	
                                /s/ Jeff Bird

                              	 
	 	 	Name:	
                                Jeff Bird

                                

                              	 
	 	 	Title:	
                                Managing Director, Sutter Hill Ventures

                              	 

                      

                    

                  

                

              

            

          

        

      

      

      

      
        
          
            
              
                
                  
                    
                      
                        
                          	 	
                                  
                                    
                                      Sutter Hill Ventures, a California Limited Partnership

                                    

                                  

                                	 
	 	 	 	 
	

                                	
                                  By: 

                                	
                                  /s/ Jeff Bird

                                	 
	 	 	Name:	
                                  Jeff Bird

                                  

                                	 
	 	 	Title:	
                                  Managing Director, Sutter Hill Ventures

                                	 

                        

                      

                    

                  

                

              

            

          

        

        

        

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              	 	 	 	 
	

                    	
                       

                    	/s/ Wai Kwun Rossa Chiu 	 
	 	 	Wai Kwun Rossa Chiu	 
	 	 	

                    	

                    	 

            

          

        

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

       

      

      
        	 	Waycross Ventures, LLC	 
	 	 	 	 
	

              	
                By: 

              	/s/ Brook Byers	 
	 	 	Name:	Brook Byers	 
	 	 	Title:	Managing Partner	 

      

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

    

    
      
        

    

    

    

    Schedule 1(b)

    

    

    

    

    

    

    	
            Selling Investor

          	
            Class A 

            Common 

            Stock

          	
            Class B

             Common 

            Stock

          	
            Series A 

            Preferred 

            Stock

          	
            Series B 

            Preferred 

            Stock

          	
            Series C 

            Preferred 

            Stock

          	
            Series D 

            Preferred 

            Stock

          	
            Restricted 

            Stock Units

          	
            Company 

            Stock 

            Options

          
	 	 	 	 	 	 	 	 	 

    

    

    

    

    

    

    
      
        

    

    Exhibit A

    

    

    [Form of] Written ConsentEX-4.1

 Exhibit 4.1 

LIFE STORAGE LP, 
 Issuer, 

LIFE STORAGE, INC., 
 Parent
Guarantor, 
 and 
 Wells Fargo
Bank, National Association, 
 Trustee 
  

 
 Fourth
Supplemental Indenture 
 Dated as of September 23, 2020 

To 
 Indenture 

Dated as of June 20, 2016 
  

 
 2.200% SENIOR
NOTES DUE 2030 

 FOURTH SUPPLEMENTAL INDENTURE, dated as of September 23, 2020 (the “Fourth
Supplemental Indenture”), among LIFE STORAGE LP, a limited partnership formed under the laws of Delaware (the “Issuer”), LIFE STORAGE, INC. (the “Parent Guarantor”), a corporation formed under the laws of Maryland and the
sole owner of Life Storage Holdings, Inc., the general partner of the Issuer and a limited partner of the Issuer, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee (the “Trustee”). 

RECITALS OF THE ISSUER AND THE PARENT GUARANTOR 

WHEREAS, the Issuer, the Parent Guarantor and the Trustee are parties to an Indenture dated as of June 20, 2016 (the “Base
Indenture,” and together with this Fourth Supplemental Indenture, the “Indenture”) relating to the issuance from time to time by the Issuer of its Securities on terms to be specified at the time of issuance; 

WHEREAS, the Issuer proposes to create under the Base Indenture a new series of Securities; 

WHEREAS, Section 301 of the Base Indenture provides that the Issuer, the Parent Guarantor and the Trustee may enter into supplemental
indentures prior to the issuance of a new series of Securities to create such series of Securities and set forth the terms of such series of Securities; and 

WHEREAS, the consent of Holders to the execution and delivery of this Fourth Supplemental Indenture is not required and all the conditions
and requirements necessary to make this Fourth Supplemental Indenture, when duly executed and delivered, a valid and binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled. 

NOW, THEREFORE, in consideration of the premises and the purchase of Securities by the Holders thereof, it is mutually covenanted and agreed,
for the equal and proportionate benefit of all Holders of the Securities or series thereof (as determined by reference to principal amount, plus accrued but unpaid Interest, of the Securities held by such Holders), as follows: 

ARTICLE I 
 RELATION TO
INDENTURE; DEFINITIONS 
 Section 1.1    Relation to Indenture. This Fourth Supplemental Indenture
constitutes an integral part of the Base Indenture. 
 Section 1.2    Definitions. For all purposes of this
Fourth Supplemental Indenture, except for terms defined herein or unless the context otherwise requires, capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Base Indenture. In addition, the
following terms shall have the following meanings to be equally applicable to both the singular and plural forms of the terms set forth below: 

“Acquired Debt” means Debt of a Person (i) existing at the time such Person is merged or consolidated with or into the Issuer
or any of its Subsidiaries or becomes a Subsidiary of the Issuer; or (ii) assumed by the Issuer or any of its Subsidiaries in connection with the acquisition of assets from such Person. Acquired Debt shall be deemed to be incurred on the date
the acquired Person is merged or consolidated with or into the Issuer or any of its Subsidiaries or becomes a Subsidiary of the Issuer or the date of the related acquisition, as the case may be. 

“Adjusted Treasury Rate” means, with respect to any redemption date, the rate per year equal to the arithmetic mean of the weekly
average yield to maturity (representing the average of the daily rates for the immediately preceding week) available through, the most recent Statistical Release for the maturity (rounded to the nearest month) corresponding to the remaining life to
the Par Call Date of the notes as of the redemption date. If no maturity exactly corresponds to such maturity, yields for the two published maturities most closely corresponding to such maturity shall be calculated pursuant to the immediately
preceding sentence and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. For the purposes of calculating the Adjusted Treasury
Rate, the most recent Statistical Release published at least three business days prior to the date of the notice of redemption shall be used. 

 “Annual Debt Service Charge” means, for any period, the interest expense of the
Issuer and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, including, without duplication, (1) all amortization of debt discount and premium; (2) all accrued interest; (3) all capitalized
interest; and (4) the interest component of finance lease obligations, but excluding (i) interest reserves funded from the proceeds of any loan, (ii) amortization of deferred financing costs, (iii) prepayment penalties,
(iv) swap ineffectiveness charges and (v) any expense resulting from the discounting of any indebtedness in connection with the application of purchase accounting in connection with any acquisition. 

“Business Day” means, with respect to any Note, any day, other than a Saturday, Sunday or any other day on which banking
institutions in New York, New York are authorized or obligated by law or executive order to close. 
 “Consolidated Income Available
for Debt Service” for any period means Consolidated Net Income of the Issuer and its Subsidiaries for such period, plus amounts which have been deducted and minus amounts which have been added for, without duplication: 

 

	 	(i)	 interest expense on Debt; 

 

	 	(ii)	 provision for taxes; 

 

	 	(iii)	 amortization of debt discount, premium and deferred financing costs; 

 

	 	(iv)	 the income or expense attributable to transactions involving derivative instruments that do not qualify for
hedge accounting in accordance with GAAP; 

  

	 	(v)	 losses and gains on sales or other dispositions of properties and other investments, property valuation losses
and impairment charges; 

  

	 	(vi)	 depreciation and amortization; 

 

	 	(vii)	 gains or losses on early extinguishment of debt; 

 

	 	(viii)	 all prepayment penalties and all costs or fees incurred in connection with any debt financing or amendment
thereto, acquisition, disposition, recapitalization or similar transaction (regardless of whether such transaction is completed); 

  

	 	(ix)	 the effect of any non-recurring or other unusual non-cash items, as may be determined by us in good faith; and 

  

	 	(x)	 amortization of deferred charges; 

all determined on a consolidated basis in accordance with GAAP. Consolidated Income Available for Debt Service will be adjusted, without duplication, to give
pro forma effect in the case of any assets having been placed in service or removed from service from the beginning of the period to the date of determination, to include or exclude, as the case may be, any Consolidated Income Available for Debt
Service earned or eliminated as a result of the placement of the assets in service or removal of the assets from service as if the placement of the assets in service or removal of the assets from service occurred at the beginning of the period. 

“Consolidated Net Income” for any period means the amount of net income (or loss) of the Issuer and its Subsidiaries for such
period, excluding, without duplication: 
  

	 	(i)	 extraordinary items; and 

  
 2 

	 	(ii)	 the portion of net income (but not losses) of the Issuer and its Subsidiaries allocable to noncontrolling
interests in unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by the Issuer or one of its Subsidiaries, 

all determined on a consolidated basis in accordance with GAAP. 

“Debt” means, with respect to any Person, any indebtedness of such Person, whether or not contingent, in respect of (without
duplication): 
  

	 	(i)	 indebtedness for borrowed money evidenced by bonds, notes, debentures or similar instruments;

  

	 	(ii)	 indebtedness secured by any Lien on any property or asset owned by such Person, but only to the extent of the
lesser of (a) the amount of indebtedness so secured and (b) the fair market value (determined in good faith by the board of directors of the Parent Guarantor, or a duly authorized committee thereof) of the property subject to such Lien;

  

	 	(iii)	 reimbursement obligations, contingent or otherwise, in connection with any letters of credit actually issued or
amounts representing the balance (other than letters of credit issued to provide credit enhancement or support with respect to other of such Person’s or such Person’s Subsidiaries’ indebtedness otherwise reflected as Debt under this
definition) or unconditional obligations to pay the deferred and unpaid purchase price of property, which purchase price is due more than six months after the date of placing such property in service or taking delivery and title thereto, except any
such purchase price that constitutes an accrued expense or trade payable; or 

  

	 	(iv)	 any lease of property by such Person as lessee which is required to be reflected on such Person’s balance
sheet as a finance lease in accordance with GAAP, 

 in the case of items of indebtedness under (i) through (iii) above to the extent
that any such items (other than letters of credit) would appear as liabilities on such Person’s balance sheet in accordance with GAAP; provided, however, that the term “Debt” will (1) include, to the extent not otherwise
included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course of business) Debt of the types referred to above of another Person other than
obligations to be liable for the Debt of another Person solely as a result of non-recourse carveouts (it being understood that Debt shall be deemed to be incurred by such Person whenever such Person shall
create, assume, guarantee or otherwise become liable in respect thereof) and (2) exclude any such indebtedness (or obligation referenced in clause (1) above) that has been the subject of an “in substance” defeasance in accordance
with GAAP and Intercompany Debt that is subordinate in right of payment to the Notes (or an obligation to be liable for, or to pay, Intercompany Debt that is subordinate in right of payment to the Notes referenced in clause
(1) above).     
 “GAAP” means generally accepted accounting principles in the United States of America
in effect as of the issue date, including those 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 approved by a significant segment of the accounting profession. 

“Intercompany Debt” means, as of any date, indebtedness and liabilities for borrowed money, secured or unsecured, to which the only
parties are the Issuer, the Parent Guarantor or any Subsidiary of either of them as of that date. 
 “Lien” means any lien
(statutory or other), mortgage, deed of trust, deed to secure Debt, pledge, security interest, assignment for collateral purposes, deposit arrangement, encumbrance or preference, priority, or other security agreement, excluding any right of setoff
but including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and any other like agreement granting or conveying a security
interest. 

  
 3 

 “Quotation Agent” means an independent investment banking institution of national
standing appointed by the Issuer from time to time. 
 “Par Call Date” means July 15, 2030 (the date that is 90 days prior to
the Maturity Date). 
 “Statistical Release” means the statistical release designated “H.15” or any successor
publication which is published by the Federal Reserve System (or companion online data resource published by the Federal Reserve System) and which establishes yields on actively traded United States government securities adjusted to constant
maturities, or, if such statistical release is not published at the time of any determination under the indenture, then such other reasonably comparable index designated by us. 

“Subsidiary” means a corporation, partnership, association, joint venture, trust, limited liability company or other business entity
which is required to be consolidated with a Person in accordance with GAAP. 
 “Total Assets” means the sum of, without
duplication, (i) Undepreciated Real Estate Assets and (ii) all other assets (excluding accounts receivable, non-real estate intangible assets and right-of-use assets associated with an operating lease in accordance with GAAP) of the Issuer and its Subsidiaries, all determined on a consolidated basis in accordance with GAAP. 

“Total Unencumbered Assets” means, as of any date, the sum of, without duplication, (i) Undepreciated Real Estate Assets that
are not subject to a Lien securing Debt; and (ii) all other assets (excluding accounts receivable, non-real estate intangible assets and
right-of-use assets associated with an operating lease in accordance with GAAP) of the Issuer and its Subsidiaries that are not subject to a Lien securing Debt, all
determined on a consolidated basis in accordance with GAAP; provided, however, that, in determining Total Unencumbered Assets as a percentage of outstanding Unsecured Debt for purposes of Section 3.4, all investments by the Issuer and
its Subsidiaries in unconsolidated joint ventures, unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total Unencumbered Assets to the extent that such investments
would have otherwise been included. 
 “Undepreciated Real Estate Assets” means, as of any date, the cost (original acquisition
cost plus capital improvements) of real estate assets, right of use assets associated with a financing lease in accordance with GAAP, related intangibles of the Issuer and its Subsidiaries on such date, before depreciation and amortization, all
determined on a consolidated basis in accordance with GAAP; provided, however, that “Undepreciated Real Estate Assets” shall not include the right of use assets associated with an operating lease in accordance with GAAP. 

“Unsecured Debt” means Debt of the Issuer or any of its Subsidiaries which is not secured by a Lien on any property or assets of the
Issuer or any of its Subsidiaries. 
 ARTICLE II 

THE SECURITIES 
 There is
established a series of Securities pursuant to the Base Indenture with the following terms: 

Section 2.1    Title of the Securities. The series of Securities established under this Fourth Supplemental
Indenture shall be designated as the “2.200% Senior Notes due 2030” (the “Notes”). 

Section 2.2    Aggregate Principal Amount. The Notes initially will be issued in an aggregate principal amount
of $400,000,000 (not including the Notes authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Securities pursuant to Sections 304, 305 or 306 of the Base Indenture); provided that the Issuer may,
without the consent of Holders of the Notes, issue additional Notes having the same ranking and the same interest rate, maturity and other terms as the Notes, except for the issue date, issue price, the first payment date (if applicable) and payment
of Interest accruing prior to the issue date of the additional Notes, which additional Notes will constitute a single series of Securities under the Indenture. 

  
 4 

 Section 2.3    Maturity Date. The date on which the
principal on the Notes is payable is October 15, 2030, subject to the provisions of the Indenture relating to acceleration (the “Maturity Date”). 

Section 2.4    Ranking. The Notes and the Guarantee of the Parent Guarantor will be the Issuer’s and the
Parent Guarantor’s senior unsecured obligations, respectively, and will rank equally in right of payment with all of such entities’ existing and future senior unsecured, unsubordinated indebtedness. The Notes and the Guarantee, however,
will be effectively subordinated to all of the Issuer’s and Parent Guarantor’s existing and future secured indebtedness, respectively (to the extent of the value of the collateral securing such indebtedness). The Notes and the Guarantee
will also be effectively subordinated in right of payment to all existing and future liabilities and other indebtedness, whether secured or unsecured, of the Issuer’s subsidiaries. 

Section 2.5    Additional Notes. The Notes will initially be limited to an aggregate principal amount of
$400,000,000. The Issuer may from time to time, without notice to or consent of existing Holders of the Notes, create and issue additional Securities, subject to the restrictions described in Article III hereof, having the same terms and conditions
as the Notes in all respects, except for the issue date and, under certain circumstances, the issue price, Interest accrued prior to the issue date and first payment of Interest thereon. Additional notes issued in this manner will be consolidated
with and will form a single series with the previously outstanding notes, provided, however, that such additional notes may not be fungible with the previously outstanding notes for U.S. federal income tax purposes, in which case the
additional notes would have a different CUSIP number than the Notes offered hereby. 

Section 2.6    Interest. The Notes will bear Interest from, and including, September 23, 2020, or from,
and including, the most recent Interest Payment Date to which Interest has been paid or duly provided for, to, but excluding, the applicable Interest Payment Date or Maturity Date of the Notes, as applicable, at a rate of 2.200% per annum, payable
semi-annually in arrears on April 15 and October 15 of each year, commencing April 15, 2021. The Issuer will pay Interest to the Person in whose name a Note is registered at the close of business on April 1 and
October 1 (whether or not a Business Day) next preceding the Interest Payment Date. The Issuer will compute interest on the basis of a 360-day year consisting of twelve
30-day months. If any Interest Payment Date or Maturity Date falls on a day that is not a Business Day, the required payment of principal or interest will be made on the next succeeding Business Day as if made
on the date on which such payment was due, and no interest will accrue on such payment for the period from and after such Interest Payment Date or Maturity Date, as the case may be, to the date of such payment on the next succeeding Business Day.

 Section 2.7    Place of Payment for Principal and Interest. The principal and Interest on the Notes will
be payable at the office or agency of the Issuer maintained for that purpose, pursuant to the Base Indenture, in the City of New York, which initially shall be the Corporate Trust Office; provided, however, that at the option of the Issuer, such
payment of principal, or Interest may be made by check mailed to the Person entitled thereto as provided in the Base Indenture. 

Section 2.8    Defeasance and Waiver of Covenants. The Notes shall be subject to defeasance under Sections 402
and 403 of the Base Indenture, and Sections 3.1, 3.2, 3.3 and 3.4 hereof are subject to covenant defeasance under Section 403 of the Base Indenture as permitted pursuant to Section 401 of the Base Indenture and subject to
waiver under Section 1008 of the Base Indenture. 
 Section 2.9    Sinking Fund. The Notes shall
not have the benefit of any sinking fund. 
 Section 2.10    Form and Dating. 

(a)    The Notes shall be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or
endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. 

(b)    The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this
Fourth Supplemental Indenture, and the Issuer, the Parent Guarantor and the Trustee, by their execution and delivery of this Fourth Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent
any provision of any Notes conflicts with the express provisions of this Fourth Supplemental Indenture, the provisions of this Fourth Supplemental Indenture shall govern and be controlling. 

  
 5 

 (c)    The Notes will be issued in the form of a fully-registered
global security (the “Global Security”). The Depository Trust Company shall serve as the depository (the “Depositary”) for the Global Security. The Global Security will be deposited with, or on behalf of, the Depositary and
registered, at the request of the Depositary, in the name of Cede & Co. Except as set forth below, the Global Security may be transferred, in whole and not in part, only by the Depositary to its nominee or by its nominee to such Depositary
or another nominee of the Depositary or by the Depositary or its nominee to a successor of the Depositary or a nominee of such successor. If (i) the Depositary is at any time unwilling or unable to continue as depositary and a successor
depositary is not appointed by the Issuer within 90 calendar days after receipt of such notice from the Depositary; (ii) the Depositary ceases to be a clearing agency registered under the Exchange Act and the Issuer does not appoint a successor
depositary within 90 calendar days of becoming aware that the Depositary has ceased to be registered as a clearing agency; (iii) the Issuer, in its sole discretion, determines that the Notes will be exchangeable for definitive securities
in registered form and notifies the Trustee of its decision; or (iv) an Event of Default with respect to the Notes represented by the Global Security has occurred and is continuing, then in each case the Issuer may issue Notes in
certificated form in exchange for the Global Security. In each of these instances, an owner of an interest in the Global Security would be entitled to physical delivery of such Notes in certificated form. Notes so issued in certificated form will be
issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof and will be issued in registered form only. 

Section 2.11    Optional Redemption.  

(a)    The Issuer may redeem the Notes at its option and sole discretion, at any time or from time to time prior to the
Par Call Date, in whole or in part, at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes being redeemed; or (ii) as determined by the Quotient Agent, the sum of the present values of the remaining
scheduled payments of principal and Interest thereon that would be due if such Notes matured on the Par Call Date but for the redemption thereof (not including any portion of such payments of Interest accrued as of the Redemption Date)
discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 25 basis points,
plus, in each case, accrued and unpaid Interest thereon to, but not including, the applicable Redemption Date; provided, however, that if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment
Date, the Issuer will pay the full amount of accrued and unpaid Interest, if any, on such Interest Payment Date to the Holder of record of the Notes at the close of business on the corresponding Record Date (instead of the Holder surrendering its
Notes for redemption). Notwithstanding the foregoing, if the Notes are redeemed on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid Interest thereon
to, but not including, the applicable Redemption Date. 
 (b)    If any Redemption Date falls on a day that is not a
Business Day, the required payment of the Redemption Price will be made on the next succeeding Business Day as if made on the date on which such payment was due, and no interest will accrue on such payment for the period from and after such
Redemption Date to the date of such payment on the next succeeding Business Day. 
 (c)    If the Issuer elects to
redeem the Notes in part, the Trustee will select the Notes to be redeemed (in principal amounts of $2,000 and integral multiples of $1,000 in excess thereof), in the case of certificated notes, on a pro rata basis, by lot or such other method it
deems fair and appropriate and, in the case of Global Notes held through the Depositary, in accordance with the applicable procedures of the Depositary. 

(d)    The Issuer will not redeem the Notes pursuant to this Section 2.11 on any date if the principal amount
of the Notes has been accelerated, and such acceleration has not been rescinded or cured on or prior to such date. 

(e)    Notice of redemption pursuant to this Section 2.11 shall be given in the manner provided in Sections
106 and 1104 of the Base Indenture not later than 15 days and not earlier than 60 days prior to the Redemption Date, to each Holder of Notes to be redeemed. 

  
 6 

 Section 2.12    Payment of Notes Called for Redemption by the
Issuer. If notice of redemption has been given as provided in Sections 106 and 1104 of the Base Indenture, the Notes or portion of Notes with respect to which such notice has been given shall become due and payable on the Redemption Date and at
the place or places stated in such notice at the Redemption Price, and unless the Issuer shall default in the payment of such Notes at the Redemption Price, so long as the Paying Agent holds funds sufficient to pay the Redemption Price of the Notes
to be redeemed on the Redemption Date, then on and after such date: (a) such Notes will cease to be Outstanding on and after the Redemption Date, (b) Interest on the Notes or portion of Notes so called for redemption shall cease to accrue
on and after the Redemption Date, and (c) all rights of the Holders of the Notes shall cease with respect of such Notes except the right to receive the Redemption Price thereof. On presentation and surrender of such Notes at a place of payment
in said notice specified, the said Notes or the specified portions thereof shall be paid and redeemed by the Issuer at the Redemption Price, together with interest accrued thereon to, but excluding, the Redemption Date. 

Section 2.13    Nonconvertible. The Notes shall not be convertible or exchangeable for any other security or
property. 
 Section 2.14    Parent Guarantor. The Notes shall be Guaranteed by the Parent Guarantor in
accordance with Article Fourteen of the Base Indenture. 
 ARTICLE III 

ADDITIONAL COVENANTS 
 In
addition to the covenants set forth in the Base Indenture, the Issuer hereby further covenants as follows: 

Section 3.1    Limitation on Total Outstanding Debt. The Issuer shall not, and shall not permit any of its
Subsidiaries to, incur any Debt (including, without limitation, Acquired Debt) if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount
of all of its and its Subsidiaries’ outstanding Debt (determined on a consolidated basis in accordance with GAAP) is greater than 60% of the sum of the following (without duplication): (1) Total Assets of the Issuer and its Subsidiaries as of
the last day of the then most recently ended fiscal quarter for which financial statements are available and (2) the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the aggregate amount of any securities
offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Issuer or any of its Subsidiaries since the end of such fiscal quarter, including the
proceeds obtained from the incurrence of such additional Debt. 
 Section 3.2    Secured Debt Test. The
Issuer shall not, and shall not permit any of its Subsidiaries to, incur any Debt (including, without limitation, Acquired Debt) secured by any Lien on any of its or any of its Subsidiaries’ property or assets, whether owned on the date of this
Fourth Supplemental Indenture or subsequently acquired, if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount of all of its and its
Subsidiaries’ outstanding Debt (determined on a consolidated basis in accordance with GAAP) which is secured by a Lien on any of the Issuer’s or any of its Subsidiaries’ property or assets is greater than 40% of the sum of the
following (without duplication): (1) Total Assets of the Issuer and its Subsidiaries as of the last day of the then most recently ended fiscal quarter for which financial statements are available; and (2) the aggregate purchase price of any
real estate assets or mortgages receivable acquired, and the aggregate amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by
the Issuer or any of its Subsidiaries since the end of such fiscal quarter, including the proceeds obtained from the incurrence of such additional Debt. 

Section 3.3    Debt Service Test.  

(a)    The Issuer shall not, and shall not permit any of its Subsidiaries to, incur any Debt (including without limitation
Acquired Debt) if the ratio of Consolidated Income Available for Debt Service to Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters most recently ended, 

  
 7 

 
for which financial statements are available, prior to the date on which such additional Debt is to be incurred shall have been less than 1.5:1 on a pro forma basis after giving effect to
the incurrence of such Debt and the application of the proceeds from such Debt (determined on a consolidated basis in accordance with GAAP), and calculated on the following assumptions: (1) such Debt and any other Debt (including,
without limitation, Acquired Debt) incurred by the Issuer or any of its Subsidiaries since the first day of such four-quarter period had been incurred, and the application of the proceeds from such Debt (including to repay or retire other Debt) had
occurred, on the first day of such period; (2) the repayment or retirement of any other Debt of the Issuer or any of its Subsidiaries since the first day of such four-quarter period had occurred on the first day of such period (except
that, in making this computation, the amount of Debt under any revolving credit facility, line of credit or similar facility will be computed based upon the average daily balance of such Debt during such period); and (3) in the case of
any acquisition or disposition by the Issuer or any of its Subsidiaries since the first day of such four-quarter period, whether by merger, stock purchase or sale or asset purchase or sale or otherwise, such acquisition or disposition had occurred
as of the first day of such period with the appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation. 

(b)    If the Debt giving rise to the need to make the calculation described in Section 3.3(a) or any other Debt incurred
after the first day of the relevant four-quarter period bears interest at a floating rate, then, for purposes of calculating the Annual Debt Service Charge, the interest rate on such Debt will be computed on a pro forma basis by applying the average
daily rate which would have been in effect during the entire four-quarter period to the greater of the amount of such Debt outstanding at the end of such period or the average amount of such Debt outstanding during such period. 

(c)    For purposes of this Section 3.3, Debt will be deemed to be incurred by the Issuer or any of its Subsidiaries
whenever the Issuer or any of its Subsidiaries shall create, assume, guarantee or otherwise become liable in respect thereof. 

Section 3.4    Maintenance of Total Unencumbered Assets. The Issuer shall not have at any time Total
Unencumbered Assets of less than 150% of the aggregate principal amount of all of its and its Subsidiaries’ outstanding Unsecured Debt determined on a consolidated basis in accordance with GAAP. 

ARTICLE IV 

MISCELLANEOUS PROVISIONS 

Section 4.1    Trustee. The Trustee is appointed as the paying agent, transfer agent and registrar of the
Notes and for the purposes of Section 1002 of the Base Indenture. 
 Section 4.2    Ratification of Base
Indenture. This Fourth Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Base Indenture, and as supplemented and modified hereby, the Base Indenture continues in full force and effect and is in all
respects confirmed and preserved, and the Base Indenture and this Fourth Supplemental Indenture shall be read, taken and construed as one and the same instrument. In the event of a conflict between the language of this Fourth Supplemental Indenture
and the Base Indenture, the language of this Fourth Supplemental Indenture shall control. 
 Section 4.3    No
Representation by Trustee. The Trustee makes no representation as to the validity or sufficiency of this Fourth Supplemental Indenture. 

Section 4.4    Separability. In case any provision in this Fourth Supplemental 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. 

Section 4.5    Governing Law. This Fourth Supplemental Indenture shall be governed by and construed in
accordance with the laws of the State of New York. 

  
 8 

 Section 4.6    Counterparts. This Fourth Supplemental
Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

[Remainder of Page Intentionally Left Blank] 

  
 9 

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

					
	 LIFE STORAGE LP,

as Issuer

	
	By: LIFE STORAGE HOLDINGS, INC., as general partner
		
	By:	 	 /s/ Andrew J. Gregoire

		 	Name:	 	Andrew J. Gregoire
		 	Title:	 	Chief Financial Officer
	
	 LIFE STORAGE, INC.,

as Parent Guarantor

		
	By:	 	 /s/ Andrew J. Gregoire

		 	Name:	 	Andrew J. Gregoire
		 	Title:	 	Chief Financial Officer                                 
                           
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 /s/ Stefan Victory

		 	Name:	 	Stefan Victory
		 	Title:    	 	Vice President

 [Signature Page to the Fourth Supplemental Indenture] 

 EXHIBIT A 

 FORM OF NOTE 

[Face of Note] 
 CUSIP # 53227J AC8

 ISIN US53227JAC80 
 2.200%
Senior Note due 2030 
  

			
	No. [     ]	  	$[         ]

 LIFE STORAGE LP 

promises to pay to CEDE & CO. or its registered assigns, the principal sum of [ ] Dollars on October 15, 2030. 

Interest Payment Dates: April 15 and October 15 

Record Dates: April 1 and October 1 
 Dated:
September 23, 2020 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY
SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 IN WITNESS WHEREOF, Life Storage LP has caused this instrument to be duly executed as of the day and
year first written above. 
  

			
	LIFE STORAGE LP
		
	By:	 	LIFE STORAGE HOLDINGS, INC.,
		 	as General Partner
		
	By:	 	  

		 	Name:
		 	Title:

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

    as Trustee

		
	By:	 	  

		 	Authorized Signatory

 [Signature Page to Note]

 [Back of Note] 

2.200% Senior Notes due 2030 
 Capitalized terms
used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1) Interest. The Notes
will bear interest from, and including, September 23, 2020, or from, and including, the most recent interest payment date to which interest has been paid or duly provided for, to, but excluding, the applicable interest payment date or Maturity
Date of the Notes, as applicable, at a rate of 2.200% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, commencing April 15, 2021. The Issuer will pay interest to the Person in whose name a Note is
registered at the close of business on April 1 and October 1 next preceding the interest payment date. The Issuer will compute interest on the basis of a 360-day year consisting of twelve 30-day months. If any interest payment date or Maturity Date falls on a day that is not a Business Day, the required payment of principal or interest will be made on the next succeeding Business Day as if made on
the date on which such payment was due, and no interest will accrue on such payment for the period from and after such interest payment date or Maturity Date, as the case may be, to the date of such payment on the next succeeding Business Day. 

(2) Place of Payment for Principal and Interest. The principal of and interest on the Notes will be payable at the office or agency of the
Issuer maintained for that purpose, pursuant to the Indenture, in the City of New York, which initially shall be the corporate trust office of the Trustee; provided, however, that at the option of the Issuer, such payment of principal or interest
may be made by check mailed to the person entitled thereto as provided in the Indenture. 
 (3) Paying Agent and Security Registrar.
Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying Agent and Security Registrar. The Issuer may change any Paying Agent or Security Registrar without notice to any Holder. The Issuer or any of its
Subsidiaries may act in any such capacity. 
 (4) Sinking Funds. The Notes are not subject to repayment at the option of the Holder
thereof. In addition, the Notes are not entitled to the benefit of, and are not subject to, any sinking fund. 
 (5) Indenture. The Issuer
issued the Notes under an indenture, dated as of June 20, 2016 (the “Base Indenture”), as amended by the Fourth Supplemental Indenture, dated as of September 23, 2020 (the “Fourth Supplemental Indenture,”
and together with the Base Indenture, and as the Base Indenture and the Fourth Supplemental Indenture may be further amended and supplemented from time to time, the “Indenture”), among the Issuer, the Parent Guarantor named therein
and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all
such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall
govern and be controlling. The Notes are unsecured obligations of the Issuer. 
 (6) Redemption. The Issuer shall have the right to
redeem the Notes under certain circumstances as set forth in Section 2.11 of the Fourth Supplemental Indenture. 
 (7) Payment of Notes Called For
Redemption. If notice of redemption has been given as provided in Sections 106 and 1104 of the Base Indenture, and unless the Issuer shall default in the payment of such Notes at the Redemption Price, so long as the Paying Agent holds funds
sufficient to pay the Redemption Price of the Notes to be redeemed on the Redemption Date, then on and after such date: (a) such Notes will cease to be Outstanding on and after the Redemption Date, (b) Interest on the Notes
or portion of Notes so called for redemption shall cease to accrue on and after the Redemption Date, and (c) all rights of the Holders of the Notes shall cease with respect of such Notes except the right to receive the Redemption Price thereof.

 (8) Denominations, Transfer and Exchange. The Notes are in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Security Registrar and the Trustee may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuer need not exchange or register the transfer of any
Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. The Issuer shall not be required (i) to issue, register the transfer of or exchange the Notes during a period beginning at
the opening of business 15 days before the day of the mailing of a notice of redemption of the Notes selected for redemption under Section 1104 of the Base Indenture and ending at the close of business on the day of the mailing of the relevant
notice of redemption, or (ii) to register the transfer of or exchange any Notes so selected for redemption as a whole or in part, except the unredeemed portion of any Notes being redeemed in part. 

(9) Persons Deemed Owners. Prior to due presentment of a Note for registration of transfer, the Issuer, any Guarantor, the Trustee for such
Note and any agent of the Issuer, any Guarantor or such Trustee may treat the Person in whose name any such Note is registered as the owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and (subject to
Section 307 of the Base Indenture) interest, if any, on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuer, any Guarantor, such Trustee or any agent of the Issuer, any Guarantor or such
Trustee shall be affected by notice to the contrary. 
 None of the Issuer, any Guarantor, the Trustee, any Paying Agent or the Security Registrar shall
have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests. 
 (10) Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture, the Guarantee or the Notes
may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the Notes then outstanding affected by such amendment or supplemental indenture voting as a single class, and any existing Default or Event
of Default or compliance with any provision of the Indenture, the Guarantee or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then Outstanding Notes affected thereby voting as a single class. Without
the consent of any Holder of a Note, the Indenture, the Guarantee or the Notes may be amended or supplemented to, among other things, cure any ambiguity, defect or inconsistency; to provide for uncertificated Notes in addition to or in place of
certificated Notes; to provide for the assumption to a successor of the Issuer’s or Guarantor’s obligations to Holders of Notes; add additional Guarantees with respect to the Notes; secure the Notes; to make any other change that would
provide any additional rights or benefits to the Holders of Notes or that does not adversely affect the legal rights under the Indenture of any such Holder; or to comply with requirements of the Trust Indenture Act or to maintain the qualification
of the Indenture under the Trust Indenture Act. 
 (11) Defaults and Remedies. If an Event of Default (other than an Event of Default specified in
Sections 501(6) or 501(7) of the Base Indenture) occurs and is continuing, the entire principal amount and accrued interest on all Notes may be declared to be due and payable by either the Trustee or the Holders of not less than 25%
in aggregate principal amount of the Notes then outstanding, and, upon said declaration the same shall be immediately due and payable. If an Event of Default specified in Sections 501(6) or 501(7) of the Base Indenture occurs, the
principal amount and accrued interest on all the Notes shall be immediately and automatically due and payable without any declaration or other act by the Trustee or any Holder. 

(12) No Recourse Against Others. No past, present or future individual incorporator, limited partner, stockholder, trustee, director, officer or
employee of the Issuer, any Guarantor or of any successor entity to the Issuer or any Guarantor will have any liability for any obligations of the Issuer and any Guarantor under the Notes or the Indenture based on, in respect of, or by reason of
such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The foregoing waiver and release are an integral part of the consideration for the issuance of the Notes. 

 (13) Authentication. No Note shall be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose unless there appears on such Note the certificate of authentication manually executed by the Trustee for such Note or on its behalf pursuant to Section 614 of the Base Indenture, and such certificate upon any Security
shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder. 
 (14) CUSIP Numbers. The
Issuer in issuing the Notes may use “CUSIP” numbers (if then generally in use) or other identifying numbers (“Identifying Numbers”) and, if so, the Trustee shall use such Identifying Numbers in notices of redemption as a
convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such Identifying Numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be
placed only on the other identifying numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall promptly notify the Trustee in writing of any change in the Identifying
Numbers. 
 The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Life Storage LP 
 c/o Life Storage, Inc. 

6467 Main Street 
 Williamsville, New York 14221 

Attention: Andrew J. Gregoire, Chief Financial Officer 

 FORM OF NOTATION OF GUARANTEE 

For value received, the Guarantor (which term includes any successor Person under the Indenture hereinafter referred to) has unconditionally
guaranteed to the extent set forth in, and subject to the provisions of, an indenture dated as of June 20, 2016 (the “Base Indenture”), as amended by the Fourth Supplemental Indenture, dated as of September 23, 2020 (the
“Fourth Supplemental Indenture” and, together with the Base Indenture, and as the Base Indenture and the Fourth Supplemental Indenture may be further amended and supplemented from time to time, the “Indenture”)
among Life Storage LP (the “Issuer”), the Guarantor named therein and Wells Fargo Bank, National Association, as trustee (the “Trustee”), providing for the issuance of 2.200% Senior Notes due 2030, the due and
punctual payment of the principal of and interest on the Notes to which this notation is affixed and all other amounts due and payable under the Indenture and the Notes to which this notation is affixed by the Issuer. 

The obligations of such Guarantor to the Holders of Notes to which this notation is affixed and to the Trustee pursuant to the Guarantee and
the Indenture are expressly set forth in Article Fourteen of the Base Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	LIFE STORAGE, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 Assignment Form 
  

	
	 To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to:            
                                         
                                         
                                         
                                         
 

	                            (Insert assignee’s legal name)
	
	  

	(Insert assignee’s Soc. Sec. or Tax I.D. No.)
	
	  

	
	  

	
	  

	
	  

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

 and irrevocably appoint
                                         
                                    to transfer this Note on the books
of the Issuer. The agent may substitute another to act for him. 
  

			
	Date:	 	
                    

  

	
	 Your

Signature:                        
                                         
                   

	(Sign exactly as your name appears on the face of this Note)

 Signature
Guarantee:                                       
                          
  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

 SCHEDULE OF INCREASES OR DECREASES IN THE GLOBAL SECURITY 

The following increases or decreases in the principal amount of this Global Note have been made: 

 

																	
	 Date of Increase or Decrease
	  	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 Custodian

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]