Document:

Form of Amended and Restated Senior Debt Indenture

Table of Contents

 Exhibit 4.2 

 
  

 
 NOMURA HOLDINGS, INC. 

 Issuer 

TO 

DEUTSCHE BANK TRUST COMPANY AMERICAS 

Trustee 
  

 
  

Amended and Restated Senior Debt Indenture 

Dated as of [            ], 2010 

 
  

 
  

 
  

Table of Contents

 Nomura Holdings, Inc. 

Certain Sections of this Indenture relating to Sections 310 through 318, 

inclusive, of the Trust Indenture Act of 1939: 
  

					
	Trust Indenture	  	 
	 Act Section
	  	Indenture Section
	§ 310	 	 (a)(1)
	  	609
		 	 (a)(2)
	  	609
		 	 (a)(3)
	  	Not Applicable
		 	 (a)(4)
	  	Not Applicable
		 	 (b)
	  	608
		 		  	610
	§ 311	 	 (a)
	  	613
		 	 (b)
	  	613
	§ 312	 	 (a)
	  	701
		 		  	702
		 	 (b)
	  	702
		 	 (c)
	  	702
	§ 313	 	 (a)
	  	703
		 	 (b)
	  	703
		 	 (c)
	  	703
		 	 (d)
	  	703
	§ 314	 	 (a)
	  	704
		 	 (a)(4)
	  	102
		 		  	1004
		 	 (b)
	  	Not Applicable
		 	 (c)(1)
	  	102
		 	 (c)(2)
	  	102
		 	 (c)(3)
	  	Not Applicable
		 	 (d)
	  	Not Applicable
		 	 (e)
	  	102
	§ 315	 	 (a)
	  	601
		 	 (b)
	  	602
		 	 (c)
	  	601
		 	 (d)
	  	601
		 	 (e)
	  	514
	§ 316	 	 (a)
	  	101
		 	 (a)(1)(A)
	  	502
		 		  	512
		 	 (a)(1)(B)
	  	513
		 	 (a)(2)
	  	Not Applicable
		 	 (b)
	  	508
		 	 (c)
	  	104
	§ 317	 	 (a)(1)
	  	503
		 	 (a)(2)
	  	504
		 	 (b)
	  	1003
	§ 318	 	 (a)
	  	107

  

NOTE:  This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture. 

Table of Contents

 TABLE OF CONTENTS 

 

			
	 	  	Page
	 PARTIES
	  	1
	 RECITALS OF THE COMPANY
	  	1

 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 
  

					
	Section 101.	  	Definitions.	  	1
	Section 102.	  	Compliance Certificates and Opinions.	  	6
	Section 103.	  	Form of Documents Delivered to Trustee.	  	6
	Section 104.	  	Acts of Holders; Record Dates.	  	7
	Section 105.	  	Notices, Etc., to Trustee and Company.	  	8
	Section 106.	  	Notice to Holders; Waiver.	  	9
	Section 107.	  	Conflict with Trust Indenture Act.	  	9
	Section 108.	  	Effect of Headings and Table of Contents.	  	9
	Section 109.	  	Successors and Assigns.	  	9
	Section 110.	  	Separability Clause.	  	9
	Section 111.	  	Benefits of Indenture.	  	9
	Section 112.	  	Governing Law.	  	10
	Section 113.	  	Legal Holidays.	  	10
	Section 114.	  	Waiver of Jury Trial.	  	10
	Section 115.	  	Force Majeure.	  	10
	Section 116.	  	Submission to Jurisdiction.	  	10
	Section 117.	  	USA Patriot Act.	  	11
	  
 ARTICLE TWO

 
 SECURITY FORMS

 

	Section 201.	  	Forms Generally.	  	11
	Section 202.	  	Form of Face of Security.	  	11
	Section 203.	  	Form of Reverse of Security.	  	13
	Section 204.	  	Form of Legends.	  	17
	Section 205.	  	Form of Trustee’s Certificate of Authentication.	  	18
	  
 ARTICLE THREE

 
 THE SECURITIES

 

	Section 301.	  	Amount Unlimited; Issuable in Series.	  	19
	Section 302.	  	Denominations.	  	21
	Section 303.	  	Execution, Authentication, Delivery and Dating.	  	21
	Section 304.	  	Temporary Securities.	  	22
	Section 305.	  	Registration, Registration of Transfer and Exchange.	  	22
	Section 306.	  	Mutilated, Destroyed, Lost and Stolen Securities.	  	24
	Section 307.	  	Payment of Interest; Interest Rights Preserved.	  	24
	Section 308.	  	Persons Deemed Owners.	  	25
	Section 309.	  	Cancellation.	  	25

  

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	 	  	 	  	Page
	Section 310.	  	Computation of Interest.	  	26
	Section 311.	  	CUSIP and ISIN Numbers	  	26
	Section 312.	  	Japanese Withholding Tax.	  	26
	  
 ARTICLE FOUR

 
 SATISFACTION AND DISCHARGE

 

	Section 401.	  	Satisfaction and Discharge of Indenture.	  	27
	Section 402.	  	Application of Trust Money.	  	27
	  
 ARTICLE FIVE

 
 REMEDIES

 

	Section 501.	  	Events of Default.	  	28
	Section 502.	  	Acceleration of Maturity; Rescission and Annulment.	  	29
	Section 503.	  	Collection of Indebtedness and Suits for Enforcement by Trustee.	  	30
	Section 504.	  	Trustee May File Proofs of Claim.	  	30
	Section 505.	  	Trustee May Enforce Claims Without Possession of Securities.	  	30
	Section 506.	  	Application of Money Collected.	  	31
	Section 507.	  	Limitation on Suits.	  	31
	Section 508.	  	Unconditional Right of Holders to Receive Principal, Premium and Interest.	  	31
	Section 509.	  	Restoration of Rights and Remedies.	  	31
	Section 510.	  	Rights and Remedies Cumulative.	  	32
	Section 511.	  	Delay or Omission Not Waiver.	  	32
	Section 512.	  	Control by Holders.	  	32
	Section 513.	  	Waiver of Past Defaults.	  	32
	Section 514.	  	Undertaking for Costs.	  	32
	Section 515.	  	Waiver of Usury, Stay or Extension Laws.	  	33
	  
 ARTICLE SIX

 
 THE TRUSTEE

 

	Section 601.	  	Certain Duties and Responsibilities.	  	33
	Section 602.	  	Notice of Defaults.	  	33
	Section 603.	  	Certain Rights of Trustee.	  	33
	Section 604.	  	Not Responsible for Recitals or Issuance of Securities.	  	34
	Section 605.	  	May Hold Securities.	  	34
	Section 606.	  	Money Held in Trust.	  	34
	Section 607.	  	Compensation and Reimbursement.	  	34
	Section 608.	  	Conflicting Interests.	  	35
	Section 609.	  	Corporate Trustee Required; Eligibility.	  	35
	Section 610.	  	Resignation and Removal; Appointment of Successor.	  	35
	Section 611.	  	Acceptance of Appointment by Successor.	  	36
	Section 612.	  	Merger, Conversion, Consolidation or Succession to Business.	  	37
	Section 613.	  	Preferential Collection of Claims Against Company.	  	37

  

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	ARTICLE SEVEN  

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

	 	  	 	  	Page
	Section 701.	  	Company to Furnish Trustee Names and Addresses of Holders.	  	38
	Section 702.	  	Preservation of Information; Communications to Holders.	  	38
	Section 703.	  	Reports by Trustee.	  	38
	Section 704.	  	Reports by Company.	  	38
	  
 ARTICLE EIGHT

 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

  

	Section 801.	  	Company May Consolidate, Etc., Only on Certain Terms.	  	39
	Section 802.	  	Successor Substituted.	  	39
	  
 ARTICLE NINE

 
 SUPPLEMENTAL INDENTURES

 

	Section 901.	  	Supplemental Indentures Without Consent of Holders.	  	39
	Section 902.	  	Supplemental Indentures With Consent of Holders.	  	40
	Section 903.	  	Execution of Supplemental Indentures.	  	41
	Section 904.	  	Effect of Supplemental Indentures.	  	41
	Section 905.	  	Conformity with Trust Indenture Act.	  	41
	Section 906.	  	Reference in Securities to Supplemental Indentures.	  	42
	  
 ARTICLE TEN

 
 COVENANTS

 

	Section 1001.	  	Payment of Principal, Premium and Interest.	  	42
	Section 1002.	  	Maintenance of Office or Agency.	  	42
	Section 1003.	  	Money for Securities Payments to Be Held in Trust.	  	43
	Section 1004.	  	Statement by Officers as to Default.	  	43
	Section 1005.	  	Existence.	  	44
	Section 1006.	  	Payment of Taxes and Other Claims	  	44
	Section 1007.	  	Waiver of Certain Covenants.	  	44
	Section 1008.	  	Payment of Additional Amounts.	  	44
	Section 1009.	  	Restriction on Certain Liens.	  	46
	  
 ARTICLE ELEVEN

 
 REDEMPTION OF SECURITIES

 

	Section 1101.	  	Applicability of Article.	  	47
	Section 1102.	  	Election to Redeem; Notice to Trustee.	  	47
	Section 1103.	  	Selection by Trustee of Securities to Be Redeemed.	  	47
	Section 1104.	  	Notice of Redemption.	  	48
	Section 1105.	  	Deposit of Redemption Price.	  	48
	Section 1106.	  	Securities Payable on Redemption Date.	  	48
	Section 1107.	  	Securities Redeemed in Part.	  	49
	Section 1108.	  	Optional Redemption for Tax Reasons.	  	49

  

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	ARTICLE TWELVE  

SINKING FUNDS
  

	 	  	 	  	Page
	Section 1201.	  	Applicability of Article.	  	49
	Section 1202.	  	Satisfaction of Sinking Fund Payments with Securities.	  	49
	Section 1203.	  	Redemption of Securities for Sinking Fund.	  	50
	  
 ARTICLE THIRTEEN

 
 DEFEASANCE AND COVENANT DEFEASANCE

 

	Section 1301.	  	Company’s Option to Effect Defeasance or Covenant Defeasance.	  	50
	Section 1302.	  	Defeasance and Discharge.	  	50
	Section 1303.	  	Covenant Defeasance.	  	51
	Section 1304.	  	Conditions to Defeasance or Covenant Defeasance.	  	51
	Section 1305.	  	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions.	  	52
	Section 1306.	  	Reinstatement.	  	53

  

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 AMENDED AND RESTATED SENIOR DEBT INDENTURE, dated as of
[            ], 2010, between Nomura Holdings, Inc., a corporation duly incorporated and existing under the laws of Japan (herein called the “Company”), having its registered head
office at 9-1, Nihonbashi 1-chome, Chuo-ku, Tokyo 103-8645, Japan, and Deutsche Bank Trust Company Americas, a New York banking corporation, as Trustee (herein called the “Trustee”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company and the Trustee entered into a Senior Debt Indenture, dated March 4, 2010 (the “Original Indenture”);

 WHEREAS, pursuant to Clause 5 of Section 901 of the Original Indenture, the Company and the Trustee are entitled to make
certain changes thereto from time to time without the consent of the Holders; 
 WHEREAS, the Company and the Trustee now desire
to make certain changes to the Original Indenture; 
 WHEREAS, the Company has duly authorized the execution and delivery of
this Indenture to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be issued in one or more series as in this Indenture provided; and

 WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have
been done. 
 NOW, THEREFORE, THIS INDENTURE
WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows: 

ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 
 
Section 101.    Definitions. 
 For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires: 
 (1) the terms defined in this Article have the meanings
assigned to them in this Article and include the plural as well as the singular; 
 (2) all other terms used
herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 

(3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally
accepted accounting principles in the United States of America, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall
mean such accounting principles as are generally accepted in the United States of America at the date of such computation; 

(4) unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an
Article or a Section, as the case may be, of this Indenture; and 
 (5) the words “herein”,
“hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

Table of Contents

 “Act”, when used with respect to any Holder, has the meaning specified in
Section 104. 
 “Additional Amounts” has the meaning specified in Section 1008. 

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

“Applicable Procedures” of a Depositary means, with respect to any matter at any time, the policies and procedures of such
Depositary, if any, that are applicable to such matter at such time. 
 “Board of Directors” means the board of
directors of the Company, any duly authorized committee of the Company, including the Executive Managing Board (keiei-kaigi), or the President, the Deputy President, the Chief Financial Officer or other executive officer (shikkou-yaku)
of the Company as may be authorized to act hereunder.  
 “Board Resolution” means a copy of a resolution or
decision certified by the President, the Deputy President, the Chief Financial Officer or other executive officer (shikkou-yaku) or other officer of the Company as may be authorized to have been duly adopted or approved by the Board of
Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business
Day”, when used with respect to any Place of Payment, means, unless otherwise specified for any security as contemplated by Section 301, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions
in that Place of Payment are authorized or obligated by law or executive order to close. 
 “Commission” means the
Securities and Exchange Commission, from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust
Indenture Act, then the body performing such duties at such time. 
 “Company” means the Person named as the
“Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Company by the
President, the Deputy President, the Chief Financial Officer or other executive officer (shikkou-yaku) or other officer of the Company as may be designated in writing by the Board of Directors and delivered to the Trustee from time to time.

 “Corporate Trust Office” means the principal office of the Trustee in New York, New York at
which at any particular time its corporate trust business shall be administered, which at the date hereof is located at Deutsche Bank Trust Company Americas, 60 Wall Street,
27th Floor, MS: NYC60-2710, New York, New York, 10005;
Fax: 732-578-4635, Attention: Manager Corporate Team — Nomura Holdings, Inc. 
 “corporation” means a
corporation, association, company (including a limited liability company), joint-stock company, business trust or other similar entity. 

“Covenant Defeasance” has the meaning specified in Section 1303. 

“Defaulted Interest” has the meaning specified in Section 307. 

 

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 “Defeasance” has the meaning specified in Section 1302. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency that is designated to act as Depositary for such Securities as contemplated by Section 301. 

“Designated Financial Institution” has the meaning specified in Section 1008. 

“DTC Procedures” has the meaning specified in Section 312. 

“Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time
to time. 
 “Expiration Date” has the meaning specified in Section 104. 

“Global Security” means a Security that evidences all or part of the Securities of any series and bears the legend set forth in
Section 204 (or such legend as may be specified as contemplated by Section 301 for such Securities). 

“Holder” means a Person in whose name a Security is registered in the Security Register. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part
of and govern this instrument and any such supplemental indenture, respectively. The term “this Indenture” means the Amended and Restated Senior Debt Indenture, dated as of [    ], 2010. The term “Indenture”
shall also include the terms of particular series of Securities established as contemplated by Section 301. 

“interest”, when used with respect to an Original Issue Discount Security which by its terms bears interest only after
Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when used with respect to any Security,
means the Stated Maturity of an installment of interest on such Security. 
 “Interest Recipient Information” has the
meaning specified in Section 1008. 
 “Investment Company Act” means the Investment Company Act of 1940 and any
statute successor thereto, in each case as amended from time to time. 
 “Maturity”, when used with respect to any
Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise. 
 “Notice of Default” means a written notice of the kind specified in Section 501(4). 

“Officers’ Certificate” means a certificate signed by the President, the Deputy President, the Chief Financial Officer or
other executive officer (shikkou-yaku) or other officer of the Company as may be designated in writing by the Board of Directors and delivered to the Trustee from time to time. The officer signing an Officers’ Certificate given pursuant
to Section 1004 shall be the principal executive, financial or accounting officer of the Company. 
  

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 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for
the Company, and who shall be acceptable to the Trustee. 
 “Original Indenture” means the senior debt indenture,
dated March 4, 2010, entered into between the Company and the Trustee and before reflecting any supplement or amendment thereto. 

“Original Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to be
due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore cancelled by the
Trustee or delivered to the Trustee for cancellation; 
 (2) Securities for whose payment or redemption money in
the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such
Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(3) Securities as to which Defeasance has been effected pursuant to Section 1302; and 

(4) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in
whose hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of
the requisite principal amount of the Outstanding Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original
Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502,
(B) if, as of such date, the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as
contemplated by Section 301, (C) the principal amount of a Security denominated in one or more foreign currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in
the manner provided as contemplated by Section 301, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and
(D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded. Securities so owned
which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any
other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
 “Participant” has the
meaning specified in Section 1008. 
 “Paying Agent” means any Person authorized by the Company to pay the
principal of or any premium or interest on any Securities on behalf of the Company. 
 “Person” means any individual,
corporation, partnership, joint venture, trust, unincorporated organization or government or any agency or political subdivision thereof. 
  

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 “Place of Payment”, when used with respect to the Securities of any series, means
the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 301. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as
that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption Date”, when used with
respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price”, when used with respect to any Security to be redeemed, means the price at which it is to be redeemed
pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as contemplated by Section 301. 
 “Responsible
Officer”, when used with respect to the Trustee, means any managing director, director, any vice president, any assistant vice president, any associate, or any other officer associated with the corporate trust department of the Trustee
customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such person’s
knowledge of and familiarity with the particular subject. 
 “Securities” has the meaning stated in the first recital
of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

“Securities Act” means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time to time.

 “Security Register” and “Security Registrar” have the respective meanings specified in Section 305.

 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 307. 
 “Special Taxation Measures Act” has the meaning specified in Section 1008. 

“specially-related person of the Company” has the meaning specified in Section 1008. 

“Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest thereon, means
the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by
the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors,
whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

“Tax Documentation” has the meaning specified in Section 312. 

“Japanese Taxes” has the meaning specified in Section 1008. 

 

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 “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the
date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust
Indenture Act of 1939 as so amended. 
 “Trustee” means the Person named as the “Trustee” in the first
paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at
any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

“U.S. Government Obligation” has the meaning specified in Section 1304. 

“Written Application for Tax Exemption” has the meaning specified in Section 1008. 

Section 102.    Compliance Certificates and Opinions. 

Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act; provided, however, that no such opinion shall be required in connection with the issuance of Securities that are part of any series
as to which such an opinion has been furnished. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall
comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 
 Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates provided for in Section 1004) shall include, 

(1) a statement that each individual signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a
statement that, in the opinion of each such individual, such individual has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied
with; and 
 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant
has been complied with. 
 Section 103.    Form of Documents Delivered to Trustee.

 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it
is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters
and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based
are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers

  

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of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required
to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 104.    Acts of Holders; Record Dates. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this
Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose
of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a
witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where
such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or
the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

(c) The Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of
any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series,
provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any
record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after
such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date.
Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the
relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration
Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 

(d) The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of
any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in Section 507(2) or
(iv) any direction referred to in Section 512, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding

  

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Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after
such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date.
Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the
relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Company in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 

(e) With respect to any record date set pursuant to this Section, the party hereto which sets such
record date may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new
Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing Expiration Date. If an Expiration Date is not designated
with respect to any record date set pursuant to this Section, the party hereto which sets such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its
right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the
180th day after the applicable record date. 

(f) Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular
Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount.

 (g) The ownership of Securities shall be proved by the Security Register. 

(h) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security
shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the
Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 
Section 105.    Notices, Etc., to Trustee and Company. 
 Any request, demand, authorization,
direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 

(1) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished
or filed in writing to or with the Trustee at its Corporate Trust Office, with a copy to: Deutsche Bank National Trust Company, Trust & Securities Services, 100 Plaza One, 6th Floor — MS JCY03-0699, Jersey City, New Jersey
07311-3901; Fax: 732-578-4635, Attention: Manager Corporate Team — Nomura Holdings, Inc., or 
 (2) the
Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company, addressed to it at the address of its
registered head office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company. 

 

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 Section 106.    Notice to Holders; Waiver. 

 Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise
herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his or her address as it appears in the Security Register, not later than the latest date (if any), and not earlier than the
earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders. 
 Where this Indenture provides for notice in any manner, such notice
may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not
be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 In case by reason of the
suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every
purpose hereunder. 
 Where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall
be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such
notice. 
 Section 107.    Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act to be
a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to
apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section
108.    Effect of Headings and Table of Contents. 
 The Article and Section headings herein and the
Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section
109.    Successors and Assigns. 
 All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not. 
 Section
110.    Separability Clause. 
 In case any provision in this Indenture or in the Securities 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 111.    Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their
successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture, except as may otherwise be provided pursuant to Section 301 with respect to any specific Securities. 

 

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 Section 112.    Governing Law. 

This Indenture and the Securities shall be governed by, and construed in accordance with, the law of the State of New York.

 Section 113.    Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Maturity of any Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal
(and premium, if any), need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or
at the Maturity. 
 Section 114.    Waiver of Jury Trial. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 115.    Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising
out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (hardware and software) services. The Trustee shall use reasonable efforts consistent with accepted practices in the banking industry to resume performance as soon as
possible. 
 Section 116.    Submission to Jurisdiction. 

The Company agrees that any legal suit, action or proceeding arising out of or based upon the Indenture or any Securities may be
instituted in any state or Federal court in the Borough of Manhattan, The City of New York, New York, United States of America, waives, to the extent it may effectively do so, any objection which it may have now or hereafter to the laying of the
venue of any such suit, action or proceeding, and irrevocably submits to the jurisdiction of any such court in any such suit, action or proceeding. The Company has designated and appointed Nomura Holding America Inc. (or any successor corporation)
as the Company’s authorized agent to accept and acknowledge on its behalf service of any and all process which may be served in any such suit, action or proceeding in any such court and agrees that service of process upon said agent at its
office at 2 World Financial Center, Building B, New York, New York 10281-1198 (or at such other address in the Borough of Manhattan, The City of New York, New York, United States of America, as the Company may designate by written notice to the
Company and the Trustee), and written notice of said service to the Company, mailed or delivered to it, at Nomura Holdings, Inc., 9-1 Nihonbashi 1-chome, Chuo-ku, Tokyo, 103-8645, Attention: Head of Global Treasury (until another address is filed by
the Company with the Trustee), shall be taken and held to be valid personal service upon the Company, whether or not the Company shall then be doing, or at any time shall have done, business within the State of New York, and any such service of
process shall be of the same force and validity as if service were made upon it according to the laws governing the validity and requirements of such service in such State, and waives all claim of error by reason of any such service. The Company
agrees to take all action as may be necessary to continue the designation and appointment of Nomura Holding America Inc. or any successor corporation in full force and effect so that the Company shall at all times have an agent for service of
process for the above purposes in the Borough of Manhattan, The City of New York, New York, United States of America. The Company hereby irrevocably waives, to the extent permitted by law, any immunity to jurisdiction to which it may otherwise be
entitled (including, without limitation, immunity to pre-judgment 
  

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attachment, post-judgment attachment and execution) in any legal suit, action or proceeding against it arising out of or based on this Indenture, the Securities or the transactions contemplated
hereby. The provisions of this Section are intended to be effective upon the execution of this Indenture without any further action by the Company or the Trustee and the introduction of a true copy of this Indenture into evidence shall be conclusive
and final evidence as to such matters. 
 Section 117.    USA Patriot Act. 

 The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act, the Trustee, like all
financial institutions, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with Deutsche Bank Trust Company Americas. The parties to this Indenture
agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the USA Patriot Act. 

ARTICLE TWO 

SECURITY FORMS 
 
Section 201.    Forms Generally. 
 The Securities of each series shall be in substantially the
form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or
Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified through an Officers’ Certificate and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication
and delivery of such Securities. 
 The definitive Securities shall be printed, lithographed or engraved on steel engraved
borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 

Section 202.    Form of Face of Security. 

[Insert any legend required by the Internal Revenue Code and the regulations thereunder.] 

NOMURA HOLDINGS, INC. 

[INSERT TITLE OF SECURITIES] 

							
	 CUSIP
No                  
	 		  	
				
	 No.                 
	 		 		  	$            

Nomura Holdings, Inc., a corporation duly incorporated and existing under the laws of Japan (herein called the “Company”, which
term includes any successor Person under the Indenture hereinafter referred to), for value 
  

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received, hereby promises to pay to
                                         
                         , or registered assigns, the principal sum of
                          dollars on           
                                        
  [if the Security is to bear interest prior to Maturity, insert — ,
and to pay interest thereon from                 or from the most recent Interest Payment Date to which interest has been
paid or made available for payment, semi-annually on               and               in each year,
commencing              , at the rate of        % per annum, until the principal hereof is paid or made
available for payment [if applicable, insert — , provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of      % per annum
(to the extent that the payment of such interest shall be legally enforceable), from the dates such overdue amounts are due until they are paid or made available for payment, and such interest shall be payable on demand]. The interest so payable,
and punctually paid or made available for payment, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such interest, which shall be the           or           (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date. Any such interest so payable, but not so punctually paid or made available for payment on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular Record Date and may
either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which this Security may be
listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture]. 
 [If the
Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such
case the overdue principal and any overdue premium shall bear interest at the rate of    % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they
are paid or made available for payment. Interest on any overdue principal or premium shall be payable on demand.] 
 [If
applicable, insert — The Company will pay an additional amount to the Holder hereof with respect to withholding or deduction for or on account of taxes, duties, assessment or governmental charges of whatsoever nature imposed or levied by or
on behalf of Japan or any political subdivision thereof having power to tax as are provided for, and subject to the conditions stated, on the reverse of this Security.] 

Payment of the principal of (and premium, if any) and [if applicable, insert — any such] interest on this Security will be
made at the office or agency of the Company maintained for that purpose in               , in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts [if applicable, insert — ; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register; and provided, further, that if this Security is a Global Security, payment may be made pursuant to the Applicable Procedures of the Depositary as permitted in said
Indenture]. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 

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

			
	NOMURA HOLDINGS, INC.
		
	By	 	 
	Name:
	Title:

Section 203.    Form of Reverse of Security. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of
                                     (herein called the
“Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and Deutsche Bank Trust Company Americas, as trustee (herein called the “Trustee”, which term includes any successor
trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the
terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [if applicable, insert — , [initially] limited in aggregate principal amount to
$                   ]. 

[If applicable, insert — The Company will pay to the Holder such additional amounts as may be necessary in order that the net
amounts received by or on behalf of the Holder or beneficial owner of this Security after any withholding or deduction for or on account of taxes, duties, assessments or governmental charges of whatsoever nature imposed or levied by or on behalf of
Japan, or any authority thereof or therein having power to tax (the “Japanese Taxes”), will equal the respective amounts of principal of (and premium, if any) and interest which would otherwise have been receivable in respect of this
Security in the absence of such withholding or deduction. However, no such additional amounts shall be payable with respect to this Security (a) to, or to a third party on behalf of, a Holder who is an individual non-resident of Japan or a
non-Japanese corporation and is liable for such Japanese Taxes in respect of this Security by reason of its (i) having some connection with Japan other than the mere holding of this Security or (ii) being a person having a special
relationship with the Company as described in Article 6, paragraph 4 of the Act on Special Measures Concerning Taxation of Japan (the “Special Taxation Measures Act”) (such person being hereinafter referred to as a “specially-related
person of the Company”); or (b) to, or to a third party on behalf of, a Holder who would otherwise be exempt from any such withholding or deduction but who fails to comply with any applicable requirement to provide Interest Recipient
Information (as defined below) or to submit a Written Application for Tax Exemption (as defined below) to the Paying Agent to whom this Security is presented (where presentation is required), or whose Interest Recipient Information is not duly
communicated through the Participant (as defined below) and the relevant Depositary to such Paying Agent; or (c) to, or to a third party on behalf of, a Holder who is for Japanese tax purposes treated as an individual resident of Japan or a
Japanese corporation (except for (A) a Designated Financial Institution (as defined below) which complies with the requirement to provide Interest Recipient Information or to submit a Written Application for Tax Exemption and (B) an
individual resident of Japan or a Japanese corporation who duly notifies (directly or through the Participant or otherwise) the relevant Paying Agent of its status as exempt from Japanese Taxes to be withheld or deducted by the Company by reason of
such individual resident of Japan or Japanese corporation receiving interest on this Security through a payment handling agent in Japan appointed by it); or (d) where this Security is presented for payment (where presentation is required) more
than 30 days after the date on which such payment first becomes due or after the date on which the full amount payable is duly provided for, whichever occurs later, except to the extent that the Holder of this Security would have been entitled to
such additional amounts on presenting the same for payment on the last day of such 30-day period; or (e) where such withholding or deduction is imposed on a payment to an individual Holder and is required to be made pursuant to European Council
Directive 2003/48/EC on the taxation of savings income or any law 
  

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implementing or complying with, or introduced in order to conform to, such Directive; or (f) to, or to a third party on behalf of a Holder who would be able to avoid such withholding or
deduction by presenting (if presentation is required) this Security to another Paying Agent; or (g) where the amount of interest on this Security is to be calculated by reference to certain indices (as prescribed by the cabinet order under
Article 6, paragraph 4 of the Special Taxation Measures Act) relating to the Company or any specially-related person of the Company, except where the recipient of interest is a Designated Financial Institution which complies with the requirement to
provide Interest Recipient Information or to submit a Written Application for Tax Exemption; or (h) any combination of (a) through (g). No additional amounts will be paid with respect to any payment on this Security to or on behalf of a
Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent such payment would be required by the laws of Japan to be included in the income, for tax purposes, of a beneficiary or settlor with
respect to such fiduciary or a member of such partnership or a beneficial owner who, in each case, would not have been entitled to the additional amounts had such beneficiary, settlor, member or beneficial owner been the Holder of this Security. The
obligation to pay additional amounts with respect to any taxes, duties, assessments or governmental charges shall not apply to (A) any estate, inheritance, gift, sales, transfer, personal property or any similar tax, duty, assessment or
governmental charge or (B) any tax, duty, assessment or governmental charge which is payable otherwise than by deduction or withholding from payments of principal of (and premium, if any) or interest on this Security. Where this Security is
held through a participant of a Depositary or a financial intermediary, in each case, as prescribed by the Special Taxation Measures Act (each such participant or financial intermediary being hereinafter referred to as a “Participant”), in
order to receive payments free of withholding or deduction by the Company for, or on account of Japanese Taxes, if the relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese corporation (other than a
specially-related person of the Company) or (B) a Japanese financial institution or financial instruments business operator falling under certain categories prescribed by the cabinet order under Article 6, paragraph 9 of the Special Taxation
Measures Act (a “Designated Financial Institution”), such beneficial owner shall, at the time of entrusting a Participant with the custody of this Security, provide certain information prescribed by the Special Taxation Measures Act and
the cabinet order and other regulations thereunder to enable the Participant to establish that such beneficial owner is exempted from the requirement for Japanese Taxes to be withheld or deducted (the “Interest Recipient Information”) and
advise the Participant if the beneficial owner ceases to be so exempted (including where the beneficial owner who is an individual non-resident of Japan or a non-Japanese corporation becomes a specially-related person of the Company). Where this
Security is not held by a Participant, in order to receive payments free of withholding or deduction by the Company for, or on account of, Japanese Taxes, if the relevant beneficial owner is (A) an individual non-resident of Japan or a
non-Japanese corporation (other than a specially-related person of the Company) or (B) a Designated Financial Institution, such beneficial owner shall, prior to each time at which it receives interest, submit to the relevant Paying Agent a
written application for tax exemption (Hikazei Tekiyo Shinkokusho) (a “Written Application for Tax Exemption”) in a form obtainable from the Paying Agent stating, inter alia, the name and address of the beneficial owner, the title
of this Security, the relevant Interest Payment Date, the amount of interest and the fact that the beneficial owner is qualified to submit the Written Application for Tax Exemption, together with documentary evidence regarding its identity and
residence.] 
 [If applicable, insert — The Securities of this series are subject to redemption upon not less than
30 days’ notice by mail, [if applicable, insert — (1) on             in any year commencing with the year
            and ending with the year                   through operation of the
sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [if applicable, insert — on or after          ,
          ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [if applicable,
insert — on or before                      ,        %, and if
redeemed] during the 12-month period beginning                            of the years
indicated, 
  

							
	 Year
	  	 Redemption Price
	  	 Year
	  	 Redemption Price

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  

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 and thereafter at a Redemption Price equal to
                 % of the principal amount, together in the case of any such redemption [if applicable, insert — (whether through operation of
the sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor
Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 

[If applicable, insert — The Securities of this series are subject to redemption upon not less than 30 days’ notice by
mail, (1) on             in any year commencing with the year              and ending with the year
             through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as
percentages of the principal amount) set forth in the table below, and (2) at any time [if applicable, insert — on or after          ], as a whole or in part, at the election of
the Company, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
        of the years indicated, 
  

					
	 Year
	  	Redemption Price For 
Redemption
Through
Operation of the Sinking Fund	  	Redemption Price For Redemption
Otherwise Than Through
Operation of the Sinking
Fund
		  		  	
		  		  	
		  		  	
		  		  	

 and thereafter at a Redemption Price equal to
                 % of the principal amount, together in the case of any such redemption (whether through operation of the sinking fund or otherwise) with
accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of
business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 
 [If applicable,
insert — Notwithstanding the foregoing, the Company may not, prior to                 , redeem any Securities of this series as contemplated by [if
applicable, insert — Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated
in accordance with generally accepted financial practice) of less than            % per annum.] 

[If applicable, insert — The sinking fund for this series provides for the redemption on
                 in each year beginning with the year                and ending with
the year                of [if applicable, insert — not less than $              
(“mandatory sinking fund”) and not more than] $                   aggregate principal amount of Securities of this series.
Securities of this series acquired or redeemed by the Company otherwise than through [if applicable, insert — mandatory] sinking fund payments may be credited against subsequent [if applicable, insert — mandatory] sinking
fund payments otherwise required to be made [if applicable, insert — , in the inverse order in which they become due].] 

[If the Security is not subject to redemption, — This Security is not redeemable prior to Stated Maturity [except as provided
in the next succeeding paragraph]. 
 [If applicable, insert — This Security may be redeemed by the Company at a
redemption price equal to the principal amount of the Securities plus any accrued but unpaid interest through but not including the date fixed for redemption and any related additional amounts as a result of withholding or deduction for or on
account of taxes, duties, assessments or governmental charges imposed or levied by or on behalf of Japan or any political subdivision thereof having power to tax, all as provided in the Indenture]. 

 

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 [If the Security is subject to redemption of any kind, insert — In the event of
redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

[If applicable, insert — The Indenture contains provisions for defeasance at any time of [the entire indebtedness of this
Security] [or] [certain restrictive covenants and Events of Default with respect to this Security] [, in each case] upon compliance with certain conditions set forth in the Indenture.] 

[If the Security is not an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of
this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this
series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to — insert formula for
determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each case to the extent that the payment of such interest shall be
legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.] 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of all Securities at the time
Outstanding to be affected (considered together as one class for this purpose) (such Securities to be affected may be Securities of the same or different series and, with respect to any series, may comprise fewer than all the Securities of such
series). The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount of the Securities at the time Outstanding to be affected under the Indenture (considered together as one class for this purpose) (such
Securities to be affected may be Securities of the same or different series and, with respect to any series, may comprise fewer than all the Securities of such series), on behalf of the Holders of all Securities so affected, to waive compliance by
the Company with certain provisions of the Indenture and (ii) permitting the Holders of a majority in principal amount of the Securities at the time Outstanding of any series to be affected under the Indenture (with each such series considered
separately for this purpose), on behalf of the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and
binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this
Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right
to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default
with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such
Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for
the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

If so provided pursuant to the terms of any specific Securities, the above-referenced provisions of the Indenture regarding the ability
of Holders to waive certain defaults, or to request the Trustee to institute proceedings (or to give the Trustee other directions) in respect thereof, may be applied differently with regard to such Securities. 

 

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

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

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

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 [If this Security is a Global Security, insert — This Security is a Global Security and is subject to
the provisions of the Indenture relating to Global Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities.] 

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

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

Section 204.    Form of Legends. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every Global Security authenticated
and delivered hereunder shall bear a legend in substantially the following form: 
 THIS SECURITY 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. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every Security or Global Security
authenticated and delivered hereunder shall bear a legend in substantially the following form: 
 INTEREST PAYMENTS ON THIS
SECURITY WILL BE SUBJECT TO JAPANESE WITHHOLDING TAX UNLESS THE HOLDER ESTABLISHES THAT THIS SECURITY IS HELD BY OR FOR THE 
  

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ACCOUNT OF A HOLDER THAT IS (I) FOR JAPANESE TAX PURPOSES, NEITHER (X) AN INDIVIDUAL RESIDENT OF JAPAN OR A JAPANESE CORPORATION, NOR (Y) AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A
NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A PERSON HAVING A SPECIAL RELATIONSHIP WITH THE COMPANY AS DESCRIBED IN ARTICLE 6, PARAGRAPH 4 OF THE ACT ON SPECIAL MEASURES CONCERNING TAXATION OF JAPAN (THE “SPECIAL TAXATION MEASURES
ACT”) (SUCH PERSON BEING HEREINAFTER REFERRED TO AS A “SPECIALLY-RELATED PERSON OF THE COMPANY”) OR (II) A JAPANESE DESIGNATED FINANCIAL INSTITUTION AS DESCRIBED IN ARTICLE 6, PARAGRAPH 9 OF THE SPECIAL TAXATION MEASURES ACT WHICH
COMPLIES WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH. 
 INTEREST PAYMENTS ON THIS SECURITY TO AN INDIVIDUAL
RESIDENT OF JAPAN, TO A JAPANESE CORPORATION NOT DESCRIBED IN ITEM (II) OF THE PRECEDING PARAGRAPH, OR TO AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A SPECIALLY-RELATED PERSON OF THE COMPANY WILL BE
SUBJECT TO DEDUCTION IN RESPECT OF JAPANESE INCOME TAX AT A RATE OF 15% OF THE AMOUNT SPECIFIED IN SUBPARAGRAPHS (A) OR (B) BELOW, AS APPLICABLE: 
  

	 	(A)	IF INTEREST IS PAID TO AN INDIVIDUAL RESIDENT OF JAPAN, TO A JAPANESE CORPORATION, OR TO AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN
EITHER CASE IS A SPECIALLY-RELATED PERSON OF THE COMPANY (EXCEPT AS PROVIDED IN SUBPARAGRAPH (B) BELOW), THE AMOUNT OF SUCH INTEREST; OR 

  

	 	(B)	IF INTEREST IS PAID TO A PUBLIC CORPORATION, A FINANCIAL INSTITUTION, A FINANCIAL INSTRUMENTS BUSINESS OPERATOR OR CERTAIN OTHER ENTITIES THROUGH A JAPANESE PAYMENT
HANDLING AGENT AS PROVIDED IN ARTICLE 3-3, PARAGRAPH 6 OF THE SPECIAL TAXATION MEASURES ACT IN COMPLIANCE WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH, THE AMOUNT OF SUCH INTEREST MINUS THE AMOUNT PROVIDED IN THE CABINET ORDER
RELATING TO SAID PARAGRAPH 6. 

 Section 205.    Form of
Trustee’s Certificate of Authentication. 
 The Trustee’s certificates of authentication shall be in substantially
the following form: 
 This is one of the Securities of the series designated herein and referred to in the within-mentioned
Indenture. 
  

			
	 Deutsche Bank Trust Company Americas,

As Trustee

		
	By	 	 
		 	Authorized Officer

  

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 ARTICLE THREE 

THE SECURITIES 
 
Section 301.    Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of
Securities which may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or
more series. There shall be established in or pursuant to a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any series, 
 (1) the title of the Securities of the series
(which shall distinguish the Securities of the series from Securities of any other series); 
 (2) any limit upon
the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the series pursuant to Section 304, 305, 306, 906, 1107 or 1203 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

(4) the date or dates on which the principal of any Securities of the series is payable; 

(5) the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any
such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date; 

(6) the place or places where the principal of and any premium and interest on any Securities of the series shall be
payable; 
 (7) whether and under what circumstances the Company will pay an additional amount to the Holders of
the Securities with respect to withholding or deduction for or on account of taxes, duties, assessments or governmental charges imposed or levied in Japan, and whether and on what conditions the Company will have the right to redeem the Securities
rather than paying such additional amount, if different from the terms set forth in Section 1008 or 1108, as the case may be; and the form of any legend or legends relating to such withholding or deduction which shall be borne by any Securities
or Global Securities in addition to or in lieu of that set forth in Section 204; 
 (8) the period or
periods within which, the price or prices at which and the terms and conditions upon which (including the notice period, if different from the notice period set forth in Section 1104) any Securities of the series may be redeemed, in whole or in
part, at the option of the Company, and, if other than by a Board Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

(9) the obligation, if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund
or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in
part, pursuant to such obligation; 
 (10) if other than denominations of $2,000 and integral multiples of $1,000
in excess thereof, the denominations in which any Securities of the series shall be issuable; 
  

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 (11) if the amount of principal of or any premium or interest on any
Securities of the series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts shall be determined; 

(12) if other than the currency of the United States of America, the currency, currencies or currency units in which the
principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition
of “Outstanding” in Section 101; 
 (13) if the principal of or any premium or interest on any
Securities of the series is to be payable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or
currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so
payable (or the manner in which such amount shall be determined); 
 (14) if other than the entire principal
amount thereof, the portion of the principal amount of any Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 

(15) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of
any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due
and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be
determined); 
 (16) if other than by a Board Resolution, the manner in which any election by the Company to
defease any Securities of the series pursuant to Section 1302 or Section 1303 shall be evidenced; whether any Securities of the series other than Securities denominated in U.S. dollars and bearing interest at a fixed rate are to be subject
to Section 1302 or Section 1303; or, in the case of Securities denominated in U.S. dollars and bearing interest at a fixed rate, if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible
pursuant to Section 1302 or Section 1303 or both such Sections; 
 (17) if applicable, that any
Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such
Global Security in addition to or in lieu of that set forth in Section 204 and any circumstances in addition to or in lieu of those set forth in Clause (2) of the last paragraph of Section 305 in which any such Global Security may be
exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof;

 (18) any addition to, deletion from or change in the Events of Default which applies to any Securities of the
series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502; 

(19) any addition to, deletion from or change in the covenants set forth in Article Ten which applies to Securities of the
series; 
 (20) if applicable, that Persons other than those specified in Section 111 shall have such
benefits, rights, remedies and claims with respect to any Securities of the series or under this Indenture with respect to such Securities, as and to the extent provided for such Securities; 

(21) any change in the actions permitted or required under this Indenture to be taken by or on behalf of the Holders of
the Securities of the series, including any such change that permits or requires any or all such actions to be taken by or on behalf of the Holders of any specific Securities of the series rather than or in addition to the Holders of all Securities
of the series; and 
  

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 (22) any other terms of the series (which terms shall not be inconsistent
with the provisions of this Indenture, except as permitted by Section 901(5)). 
 All Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto. All Securities of any one series need not be issued at one time and, unless otherwise provided in or pursuant to the Board Resolution referred to above and
(subject to Section 303) set forth, or determined in the manner provided, in the Officers’ Certificate referred to above or in any such indenture supplemental hereto with respect to a series of Securities, a series may be reopened and
additional Securities of a series may be issued, at the option of the Company, without the consent of any Holder, at any time and from time to time. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified through the Officers’ Certificate (which may be the same Officers’ Certificate referred to in this paragraph) and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting
forth the terms of the series. 
 Section 302.    Denominations.

 The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as
shall be specified as contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $2,000 and integral multiples
of $1,000 in excess thereof. 
 Section 303.    Execution,
Authentication, Delivery and Dating. 
 The Securities shall be executed on behalf of the Company by its President or Deputy
President or by one of its representative executive officers (daihyou-shikkou-yaku) and such execution need not be attested. The signature of any of these officers on the Securities may be manual or facsimile. 

Any Security bearing the manual or facsimile signature of an individual who was at the date of issuance of such Securities a proper
officer of the Company shall bind the Company, notwithstanding that such individual has ceased to hold such office thereafter. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If
the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 

(1) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by
Section 201, that such form has been established in conformity with the provisions of this Indenture; 
 (2)
if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 

(3) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and
subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to 

 

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bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the
issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

Notwithstanding the provisions of Section 301 and of the preceding paragraph, if all Securities of a series are not to be originally
issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior
to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Security shall be conclusive evidence, and the only evidence,
that such Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such
Security to the Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this
Indenture. 
 Section 304.    Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall
authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued
and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

If temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 
 
Section 305.    Registration, Registration of Transfer and Exchange. 
 The Company shall
cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the
“Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security
Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 
  

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 Upon surrender for registration of transfer of any Security of a series at the office or
agency of the Company in a Place of Payment for that series, the Company shall execute and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any
authorized denominations and of like tenor and aggregate principal amount. 
 At the option of the Holder, Securities of any
series may be exchanged for other Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are
so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee)
be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906, 1107 or 1203 not involving any transfer.

 If the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be
required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor) during a period beginning at the opening of business 15 days before the day of the mailing of a notice of
redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of such mailing (or during such period as otherwise specified pursuant to Section 301 for such Securities), or
(B) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

The provisions of Clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 

(1) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated
for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 

(2) Notwithstanding any other provision in this Indenture, no Global Security may be exchanged in whole or in part for
Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the
Company that it is unwilling, unable or no longer qualified to continue as Depositary for such Global Security and the Company does not appoint another institution to act as Depositary within 60 days of receipt of such notice, (B) there shall
have occurred and be continuing an Event of Default with respect to such Global Security, (C) the Company so directs the Trustee by a Company Order or (D) there shall exist such circumstances, if any, in addition to or in lieu of the
foregoing as have been specified for this purpose as contemplated by Section 301. 
 (3) Subject to Clause
(2) above, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such
Global Security shall direct. 
  

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 (4) Every Security authenticated and delivered upon registration of transfer
of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, Section 304, 306, 906, 1107 or 1203 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global
Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

Section 306.    Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, the Company shall execute, and the Trustee shall authenticate and deliver in
exchange therefor, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of
any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a
bona fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the
issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
the Trustee) connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any mutilated,
destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to
all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 307.    Payment of Interest; Interest Rights Preserved. 

Except as otherwise provided as contemplated by Section 301 with respect to any Securities of a series, interest on any Security
which is payable, and is punctually paid or made available for payment, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest (or, if no business is conducted by the Trustee at its Corporate Trust Office on such date, at 5:00 P.M., New York City time, on such date). 

Any interest on any Security of any series which is payable, but is not punctually paid or made available for payment, on any Interest
Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its
election in each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to make
payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of
such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each of such Securities and the date of the proposed payment, and at
the same 
  

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time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory
to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a
Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the
proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be given to each Holder of such Securities in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer
be payable pursuant to the following Clause (2). 
 (2) The Company may make payment of any Defaulted Interest on
any Securities of a series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the
Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 

Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

Section 308.    Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 307) any interest on such Security and for all other
purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

No holder of any beneficial interest in any Global Security held on its behalf by a Depositary shall have any rights under this Indenture
with respect to such Global Security, and such Depositary may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing,
nothing herein shall impair, as between a Depositary and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary as Holder of any Security. 

None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of
the records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Section 309.    Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment
shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for 

 

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cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities
shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of in accordance with its
customary procedures. 
 Section 310.    Computation of Interest.

 Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities
of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

Section 311.    CUSIP and ISIN Numbers 

The Company in issuing the Securities may use CUSIP, ISIN and/or other similar numbers, if then generally in use, and thereafter with
respect to such Securities, the Trustee may use such numbers in any notice of redemption with respect to such Securities, provided that any such notice may state that no representation is made as to the correctness of such numbers either as
printed on such Securities or as contained in any notice of redemption and that reliance may be placed only on the other identification numbers printed on such Securities, and any such redemption shall not be affected by any defect in or omission of
such numbers. 
 Section 312.    Japanese Withholding Tax. 

In compliance with Japanese tax laws and the practices of tax authorities in Japan, in respect of any interest payment on the Securities
of any series issued in book-entry form hereunder, the Paying Agent (including the Trustee if appointed as a Paying Agent) shall act in accordance with the procedures and forms set out in the memorandum dated January 28, 2000 prepared by the
International Capital Market Association (formerly known as the International Primary Markets Association) entitled “Compliance Procedures for International Securities Offerings by Japanese Issuers—Securities Held Through DTC”, as
amended or supplemented (by notice from such Association through, and in effect as of, any given time) (the “DTC Procedures”), if DTC is acting as Depositary with respect to the Securities or, in accordance with such other similar
procedures as may be applicable to another Depositary. Except as otherwise provided in this Indenture, the Paying Agent shall be responsible only for performing such services as are specifically provided for in the DTC Procedures or such other
procedures actually known by the Paying Agent, as applicable and as may be amended or modified and communicated to the Paying Agent from time to time. The Paying Agent and the Company may rely on the information provided in the claim for exemption
and other documentation in the absence of actual knowledge to the contrary. 
 If any interest payment on the Securities of any
series is due to be made hereunder and if and so long as payments of interest may be made without withholding or deduction for or on account of Japanese tax only upon receipt of duly executed certifications, claims for exemption, notifications or
other documentation in compliance with Japanese tax law requirements (“Tax Documentation”), the Paying Agent shall (i) collect the required Tax Documentation from the Depositary (or Holders of the Securities if certificated notes
representing such series have been issued), (ii) provide any required confirmations of information available to it, and (iii) promptly deliver, or cause to be delivered, the Tax Documentation so received to the Company for filing with the
relevant Japanese district tax office. The Paying Agent may rely on the information provided in Tax Documentation (including, where relevant, supporting documentation) in the absence of actual knowledge that such information is incorrect.

 If a Holder of the Securities satisfies the requirements for claiming an exemption from Japanese withholding tax after the
date on which an amount in respect of such tax is withheld and before the date on which the tax is actually paid to the Japanese tax authorities, then the Company and the Paying Agent (on the Company’s behalf and out of funds paid to it from
the Company) may, to the extent reasonably practicable, pay the amount withheld (after the deduction of reasonable costs, including amounts in respect of changes in foreign exchange rates) to the Holder. 

 

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 ARTICLE FOUR 

SATISFACTION AND DISCHARGE 

Section 401.    Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of registration of transfer or
exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(1) either 

(A) all Securities theretofore authenticated and delivered (other than (i) Securities which have been mutilated,
destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

(B) all such Securities not theretofore delivered to the Trustee for cancellation 

(i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturity within one year, or 

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of
notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee
for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

(2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607,
and if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive such
satisfaction and discharge. 
 Section 402.    Application of Trust Money.

 Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to
Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as
the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. 
  

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 ARTICLE FIVE 

REMEDIES 
 
Section 501.    Events of Default. 
 Except as may otherwise be specified as contemplated by
Section 301 for all or any specific Securities of any series, “Event of Default”, wherever used herein with respect to Securities of any series, means any one of the following events (whatever the reason for such Event of Default and
whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1) default in the payment of any interest upon any Security of that series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 
 (2) default in the payment of the principal of or any
premium on any Security of that series at its Maturity and continuation of such default for a period of seven days; or 

(3) default in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series and
continuation of such default for a period of seven days; or; 
 (4) default in the performance, or breach, of any
covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture
solely for the benefit of any series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the
Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or 
 (5) any indebtedness for borrowed money with an aggregate outstanding principal
amount of at least $10,000,000 (or its equivalent in any other currency or currencies) of the Company becoming prematurely repayable following a default, or default in the repayment of any such indebtedness at the maturity thereof or at the
expiration of any applicable grace period therefor (or in the case of such indebtedness due on demand, default in the payment of such indebtedness at the expiration of three business days after demand therefor or, if longer, any applicable grace
period therefor), or any guarantee of or indemnity in respect of any indebtedness for borrowed money of others with a principal amount or aggregate principal amount for the time being outstanding of at least $10,000,000 (or its equivalent in any
other currency or currencies) given by the Company being not honored when due and called upon at the expiration of any applicable grace period; or 

(6) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the
Company in an involuntary case or proceeding, (B) a decree or order adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the
Company, or (C) a decree or order appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property or ordering the winding up or liquidation of its
affairs, in each case of (A), (B) and (C) above, under any applicable Japanese bankruptcy, insolvency, reorganization or other similar law, and the continuance of any such decree or order for relief or any such other decree or order
unstayed and in effect for a period of 60 consecutive days (provided that, if any Person becomes the successor to the Company pursuant to Article Eight and such Person is a corporation, partnership or trust organized and validly existing under
the laws of a jurisdiction other than Japan, each reference in this Clause (6) to an applicable Japanese law of a particular kind shall be deemed to refer to such law or any applicable comparable law of such non-Japan jurisdiction, for as long
as such Person is the successor to the Company hereunder and is so organized and existing); or 
  

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 (7) the commencement by the Company of a voluntary case or proceeding under
any applicable Japanese bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding under such law to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in
respect of the Company in an involuntary case or proceeding under any applicable Japanese bankruptcy, insolvency, reorganization or other similar law, or to the commencement of any bankruptcy or insolvency case or proceeding against it under any
such law, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Japanese bankruptcy, insolvency, reorganization or other similar law, or the consent by it to the filing of such petition or to
the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property under any applicable Japanese bankruptcy, insolvency,
reorganization or other similar law, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the
Company in furtherance of any such action (provided that, if any Person becomes the successor to the Company pursuant to Article Eight and such Person is a corporation, partnership or trust organized and validly existing under the laws of a
jurisdiction other than Japan, each reference in this Clause (7) to an applicable Japanese law of a particular kind shall be deemed to refer to such law or any applicable comparable law of such non-Japan jurisdiction, for as long as such Person
is the successor to the Company hereunder and is so organized and existing); or 
 (8) any other Event of Default
provided with respect to Securities of that series. 

Section 502.    Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case
the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, in the case of any Security of that series which specifies an
amount to be due and payable thereon on acceleration of the Maturity thereof, such amount as may be specified by the terms thereof) to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders),
and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. 
 At any
time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders
of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 

(1) the Company has paid or deposited with the Trustee a sum sufficient to pay 

(A) all overdue interest on all Securities of that series, 

(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such
declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, 

(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed
therefor in such Securities, and 
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (2) all Events
of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in
Section 513. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 

 

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 Section 503.    Collection of Indebtedness
and Suits for Enforcement by Trustee. 
 The Company covenants that if 

(1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such
default continues for a period of 30 days, or 
 (2) default is made in the payment of the principal of (or
premium, if any, on) any Security at the Maturity thereof, 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and
premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, if any, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If an Event of Default with
respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the
Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper
remedy. 
 Section 504.    Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided,
however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

Section 505.    Trustee May Enforce Claims Without Possession of Securities.

 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee
without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such
judgment has been recovered. 
  

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 Section 506.    Application of Money
Collected. 
 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon
surrender thereof if fully paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 607;

 SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and interest on
the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and
interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company or to whomsoever
may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 

Section 507.    Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 

(2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses
and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt
of such notice, request and offer of indemnity has failed to institute any such proceeding; and 
 (5) no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 

it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 508.    Unconditional Right of Holders to Receive Principal, Premium and Interest.

 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and any premium and (subject to Section 307) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date)
and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 
Section 509.    Restoration of Rights and Remedies. 
 If the Trustee or any Holder has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined 

 

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adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and
respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

Section 510.    Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 

Section 511.    Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 512.    Control by Holders. 

The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that 

(1) such direction shall not be in conflict with any rule of law or with this Indenture, and 

(2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 Section 513.    Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of
all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 

(1) in the payment of the principal of or any premium or interest on any Security of such series, or 

(2) in respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the
consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to
exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 514.    Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken,
suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file 
  

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an undertaking to pay the costs of such suit, and may assess reasonable costs against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided
that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Trustee. 

Section 515.    Waiver of Usury, Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted. 
 ARTICLE SIX 

THE TRUSTEE 

Section 601.    Certain Duties and Responsibilities. 

The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 
Section 602.    Notice of Defaults. 
 If a default occurs hereunder with respect to
Securities of any series, the Trustee shall give the Holders of Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character
specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any
event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 
 
Section 603.    Certain Rights of Trustee. 
 Subject to the provisions of Section 601:

 (1) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or
presented by the proper party or parties; 
 (2) any request or direction of the Company mentioned herein shall
be sufficiently evidenced by a Company Request or Company Order, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 

(3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or
established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’ Certificate;

  

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 (4) the Trustee may consult with counsel and the written advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by
it in compliance with such request or direction; 
 (6) the Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee,
in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney; and 
 (7) the Trustee may execute any of the trusts
or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it
hereunder. 
 (8) the Trustee shall not be deemed to have knowledge of an Event of Default unless the same is
actually known to a Responsible Officer of the Trustee. 
 Section 604.    Not
Responsible for Recitals or Issuance of Securities. 
 The recitals contained herein and in the Securities, except the
Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee does not assume any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 605.    May Hold Securities. 

The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may
become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other agent. 

Section 606.    Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee
shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 

Section 607.    Compensation and Reimbursement. 

The Company agrees: 

(1) to pay to the Trustee from time to time such compensation as shall be agreed to in writing between the Company and the
Trustee for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to its negligence or bad faith; and 
  

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 (3) to indemnify the Trustee for, and to hold it harmless against, any loss,
claim, liability or expense (including reasonable attorneys’ fees and expenses) incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder,
including the reasonable costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 501(6) or
Section 501(7), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable bankruptcy, insolvency or other similar
law. 
 The provisions of this Section shall survive the termination of this Indenture and the resignation or removal of the
Trustee and shall be applicable to the Trustee in each of its capacities hereunder. 

Section 608.    Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have
a conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series or a trustee under any other indenture, a fiscal agent under any fiscal agency agreement or a warrant agent under any warrant
agreement, of the Company. 
 Section 609.    Corporate Trustee Required;
Eligibility. 
 There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each
series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000
and has its Corporate Trust Office in the Borough of Manhattan, The City of New York. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the
purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this
Article. 
 Section 610.    Resignation and Removal; Appointment of Successor.

 No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become
effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 

The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.
If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 The Trustee may be
removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a
successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition any court of competent jurisdiction for the appointment of
a successor Trustee with respect to the Securities of such series. 
  

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 If at any time: 

(1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder
who has been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be
eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or 

(3) the Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent or a receiver of the Trustee
or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to
Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, subject to the requirements of the Trust Indenture Act, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 

If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any
cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable
requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the
Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611, the retiring Trustee or any Holder who has been a bona fide Holder of a Security of such series
for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each
appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office. 
 The costs and expenses (including its
attorney’s fees and expenses) incurred by the Trustee in connection with petitioning a court for the appointment of a successor Trustee as provided herein shall be paid by the Company. 

Section 611.    Acceptance of Appointment by Successor. 

In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed
shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver 
  

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an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder. 
 In case of the appointment hereunder of a successor Trustee with respect
to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each
successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as
shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be
vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee
relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates. 
 Upon request of any such successor
Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may
be. 
 No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be
qualified and eligible under this Article. 
 Section 612.    Merger,
Conversion, Consolidation or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties
hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion, consolidation or sale to such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 
Section 613.    Preferential Collection of Claims Against Company. 
 If and when the Trustee
shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor).

  

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 ARTICLE SEVEN 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

Section 701.    Company to Furnish Trustee Names and Addresses of Holders.

 The Company will furnish or cause to be furnished to the Trustee for the Securities of each series 

(1) semi-annually, not later than 15 days after each Regular Record Date for that series (or, if there is no Regular
Record Date for that series, on June 30 and December 31), a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of that series as of such dates; and 

(2) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 provided, that
if the Trustee is then acting as Security Registrar, no such list need be provided to the Trustee. 

Section 702.    Preservation of Information; Communications to Holders. 

The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most
recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

Section 703.    Reports by Trustee. 

Within 60 days after March 15 in each year, the Trustee shall transmit by mail or electronically, as the case may be, to Holders, as
their names and addresses appear on the register kept by the Security Registrar, a brief report dated as of such March 15, in accordance with, and to the extent required by Section 313 of the Trust Indenture Act. 

A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon
which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange. 

Section 704.    Reports by Company. 

The Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and
other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act need not be filed with the Trustee until the
15th day after the same are actually filed with the
Commission. 
 Delivery of such reports, information and documents to the Trustee is for informational purposes only and shall
not constitute a representation or warranty as to the accuracy or completeness of the reports, information or 
  

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documents. The Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to conclusively rely exclusively on Officers’ Certificates). 

ARTICLE EIGHT 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 801.    Company May Consolidate, Etc., Only on Certain Terms. 

The Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets substantially
as an entirety to any Person, unless: 
 (1) in case the Company shall consolidate with or merge into another
Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which
leases, the properties and assets of the Company substantially as an entirety shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of any domestic or foreign jurisdiction and shall expressly assume, by
an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities, and the performance or observance of
every covenant of this Indenture on the part of the Company to be performed or observed; 
 (2) immediately after
giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and 

(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for
relating to such transaction have been complied with. 

Section 802.    Successor Substituted. 

Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety in accordance with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE NINE

 SUPPLEMENTAL INDENTURES 

Section 901.    Supplemental Indentures Without Consent of Holders. 

Except as may otherwise be specified as contemplated by Section 301 for all or any specific Securities of any series, without the
consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following
purposes: 
 (1) to evidence the succession of another Person to the Company and the assumption by any such
successor of the covenants of the Company herein and in the Securities; or 
  

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 (2) to add to the covenants of the Company for the benefit of the Holders of
all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or
power herein conferred upon the Company with regard to all or any series of Securities (and if any such surrender is to be made with regard to less than all series of Securities, stating that such surrender is expressly being made solely with regard
to such series); or 
 (3) to add any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such additional Events of Default are to be for the benefit of less than all series, stating that such additional Events of Default are expressly being included solely for the benefit of such series); or 

(4) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or
facilitate the issuance of Securities in uncertificated form; or 
 (5) to add to, change or eliminate any of the
provisions of this Indenture in respect of one or more series of Securities, provided that any such addition, change or elimination in respect of any series (A) shall neither (i) apply to any Security of any series created prior to
the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no
such Security Outstanding; or 
 (6) to add to, change or eliminate any of the provisions of this Indenture
(including but not limited to Sections 202, 203, 204, 312 and 1008) for the purpose of reflecting any change in the procedures relating to Japanese withholding tax resulting from any amendment to the applicable Japanese tax law, provided that such
amendment is relevant to any series of Securities; or 
 (7) to secure the Securities; or 

(8) to establish the form or terms of all or any Securities of any series as permitted by Sections 201 and 301; or

 (9) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to
the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements
of Section 611; or 
 (10) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this Clause (10) shall not adversely
affect the interests of the Holders of Securities of any series in any material respect. 

Section 902.    Supplemental Indentures With Consent of Holders. 

Except as may otherwise be specified as contemplated by Section 301 for all or any specific Securities of any series, with the
consent of the Holders of a majority in principal amount of all Outstanding Securities affected by such supplemental indenture, considered together as one class for this purpose (such Securities to be affected may be Securities of the same or
different series and, with respect to any series, may comprise fewer than all the Securities of such series), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may
enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of such
affected Securities under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 

(1) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or
reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any

  

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other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment where, or the coin or
currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date); or 
 (2) reduce the percentage in principal amount of any Outstanding Securities (considered
separately or together as one class, as applicable, and whether comprising the same or different series or less than all the Securities of a series), the consent of whose Holders is required for any such supplemental indenture, or the consent of
whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture; or 

(3) modify any of the provisions of this Section, Section 513 or Section 1007, except to increase any such
percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to
require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 1007, or the deletion of this proviso, in accordance with the requirements of Sections
611 and 901(9); or 
 (4) change in any manner adverse to the interests of the Holders of Securities the terms
and conditions of the obligations of the Company in respect of the due and prompt payment of the principal thereof (and premium, if any) and interest thereon or any sinking fund payments provided in respect thereof. 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular Securities or series of Securities, or which modifies the rights of the Holders of such Securities or series of Securities with respect to such covenant or other provision, shall be deemed not to
affect the rights under this Indenture of the Holders of any other Securities or of any other series, as applicable. 
 It shall
not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

Section 903.    Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 904.    Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. Notwithstanding the provisions of this
Section 904, any addition to, change or elimination of the provisions of the Original Indenture contemplated by this Indenture shall not apply to any Outstanding Securities issued under the Original Indenture. 

Section 905.    Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

 

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 Section 906.    Reference in Securities to
Supplemental Indentures. 
 Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any
series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company, and such Securities may be authenticated and delivered by the Trustee in exchange for
Outstanding Securities of such series. 
 After any supplemental indenture under this Article becomes effective, the Company
shall mail to the Holders who will be affected thereby a notice briefly describing such supplemental indenture. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this
Article. 
 ARTICLE TEN 

COVENANTS 
 
Section 1001.    Payment of Principal, Premium and Interest. 
 The Company covenants and
agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. Each such
payment to the Trustee shall be made no later than 10:00 A.M., New York time, on the due date. 

Section 1002.    Maintenance of Office or Agency. 

Subject to the last paragraph of this Section, the Company will maintain in each Place of Payment for any series of Securities an office
or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the
Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the
Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to
time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that
no such designation or rescission shall in any manner relieve the Company of its obligation pursuant to the first sentence of the preceding paragraph to maintain an office or agency in each Place of Payment for Securities of any series for such
purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

With respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by
Section 301, the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where successor Securities may be
delivered in exchange therefor, provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have been
effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 
  

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 Section 1003.    Money for Securities
Payments to Be Held in Trust. 
 If the Company shall at any time act as its own Paying Agent with respect to any series of
Securities, it will, on or before each due date of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal
and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit (or, if the Company has deposited any trust funds with a trustee pursuant to Section 1304(1), cause such trustee to deposit) with a Paying Agent a sum sufficient to pay
such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and
(2) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay
to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 
 The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such
Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from
all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held by
the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the
Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York,
notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

Section 1004.    Statement by Officers as to Default. 

The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an
Officers’ Certificate, stating whether or not to the best knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any
period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

 

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 Section 1005.    Existence.

 Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force
and effect its corporate existence, rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 

Section 1006.    Payment of Taxes and Other Claims 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes,
assessments and governmental charges levied or imposed upon the Company or upon its income, profits or property, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon its property;
provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate
proceedings. 
 Section 1007.    Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 301 for Securities of a specific series, the Company may, with respect to
the Securities of any one or more series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 301(19), 901(2) or 901(8) for the benefit of the Holders of such
series or in Section 1005 or 1006, if before the time for such compliance the Holders of at least a majority in principal amount of all Outstanding Securities affected by such waiver, considered together as one class for this purpose (such
Securities to be affected may be Securities of the same or different series and, with respect to any series, may comprise fewer than all the Securities of such series), shall, by Act of such Holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

Section 1008.    Payment of Additional Amounts. 

All payments of principal of (and premium, if any) and interest in respect of the Securities will be made without withholding or deduction
for or on account of any present or future taxes, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of Japan, or any authority thereof or therein having power to tax (the “Japanese Taxes”),
unless such withholding or deduction of such Japanese Taxes is required by law. In such event, the Company shall pay to the Holder such additional amounts (“Additional Amounts”) as will result in the receipt by or on behalf of the Holders
or beneficial owners of such amounts as would have been received by them had no such deduction or withholding been required, except that no Additional Amounts shall be payable with respect to any Security: 

(a) to, or to a third party on behalf of, a Holder who is an individual non-resident of Japan or a non-Japanese
corporation and is liable for such Japanese Taxes in respect of such Security by reason of its (i) having some connection with Japan other than the mere holding of such Security or (ii) being a person having a special relationship with the
Company as described in Article 6, paragraph 4 of the Act on Special Measures Concerning Taxation of Japan (the “Special Taxation Measures Act”) (such person being hereinafter referred to as a “specially-related person of the
Company”); or 
 (b) to, or to a third party on behalf of, a Holder who would otherwise be exempt from any
such withholding or deduction but who fails to comply with any applicable requirement to provide Interest Recipient Information (as defined below) or to submit a Written Application for Tax Exemption (as defined

  

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below) to the Paying Agent to whom the relevant Security is presented (where presentation is required), or whose Interest Recipient Information is not duly communicated through the Participant
(as defined below) and the relevant Depositary to such Paying Agent; or 
 (c) to, or to a third party on behalf
of, a Holder who is for Japanese tax purposes treated as an individual resident of Japan or a Japanese corporation (except for (A) a Designated Financial Institution (as defined below) which complies with the requirement to provide Interest
Recipient Information or to submit a Written Application for Tax Exemption and (B) an individual resident of Japan or a Japanese corporation who duly notifies (directly or through the Participant or otherwise) the relevant Paying Agent of its
status as exempt from Japanese Taxes to be withheld or deducted by the Company by reason of such individual resident of Japan or Japanese corporation receiving interest on the relevant Security through a payment handling agent in Japan appointed by
it); or 
 (d) where such Security is presented for payment (where presentation is required) more than 30 days
after the date on which such payment first becomes due or after the date on which the full amount payable is duly provided for, whichever occurs later, except to the extent that the Holder of the Security would have been entitled to such Additional
Amounts on presenting the same for payment on the last day of such 30-day period; or 
 (e) where such
withholding or deduction is imposed on a payment to an individual Holder and is required to be made pursuant to European Council Directive 2003/48/EC on the taxation of savings income or any law implementing or complying with, or introduced in order
to conform to, such Directive; or 
 (f) to, or to a third party on behalf of, a Holder who would be able to
avoid such withholding or deduction by presenting (if presentation is required) such Security to another Paying Agent; or 

(g) where the amount of interest on such Security is to be calculated by reference to certain indices (as prescribed by
the cabinet order under Article 6, paragraph 4 of the Special Taxation Measures Act) relating to the Company or any specially-related person of the Company, except where the recipient of interest is a Designated Financial Institution which complies
with the requirement to provide Interest Recipient Information or to submit a Written Application for Tax Exemption; or 

(h) any combination of the above; 

nor shall Additional Amounts be paid with respect to any payment on a Security to or on behalf of a Holder who is a fiduciary or partnership or other
than the sole beneficial owner of such payment to the extent such payment would be required by the laws of Japan to be included in the income, for tax purposes, of a beneficiary or settlor with respect to such fiduciary or a member of such
partnership or a beneficial owner who, in each case, would not have been entitled to the Additional Amounts had such beneficiary, settlor, member or beneficial owner been the Holder of the Security. The obligation to pay Additional Amounts with
respect to any taxes, duties, assessments or governmental charges shall not apply to (A) any estate, inheritance, gift, sales, transfer, personal property or any similar tax, duty, assessment or governmental charge or (B) any tax, duty,
assessment or governmental charge which is payable otherwise than by deduction or withholding from payments of principal of (and premium, if any) or interest on the Security. 

Where a Security is held through a participant of a Depositary or a financial intermediary, in each case, as prescribed by the Special
Taxation Measures Act (each such participant or financial intermediary being referred to as a “Participant”), in order to receive payments free of withholding or deduction by the Company for, or on account of, Japanese Taxes, if the
relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese corporation (other than a specially-related person of the Company) or (B) a Japanese financial institution or financial instruments business operator
falling under certain categories prescribed by the cabinet order under Article 6, paragraph 9 of the Special Taxation Measures Act (a “Designated Financial Institution”), such beneficial owner shall, at the time of entrusting a Participant
with the custody of the relevant Security, provide certain information prescribed by the Special Taxation Measures Act and the cabinet order and other regulations thereunder to enable the Participant to establish that such beneficial owner is
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requirement for Japanese Taxes to be withheld or deducted (the “Interest Recipient Information”) and advise the Participant if the beneficial owner ceases to be so exempted (including
where the beneficial owner who is an individual non-resident of Japan or a non-Japanese corporation becomes a specially-related person of the Company). 

Where a Security is not held by a Participant, in order to receive payments free of withholding or deduction by the Company for, or on
account of, Japanese Taxes, if the relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese corporation (other than a specially-related person of the Company) or (B) a Designated Financial Institution, such
beneficial owner shall, prior to each time at which it receives interest, submit to the relevant Paying Agent a written application for tax exemption (Hikazei Tekiyo Shinkokusho) (a “Written Application for Tax Exemption”) in a form
obtainable from the Paying Agent stating, inter alia, the name and address of the beneficial owner, the title of the Security, the relevant Interest Payment Date, the amount of interest and the fact that the beneficial owner is qualified to
submit the Written Application for Tax Exemption, together with documentary evidence regarding its identity and residence. 

Any payment of Additional Amounts may be subject to such further exceptions or changes as may be established in the terms of any
Securities established as contemplated by Section 301. 
 For purposes of this Indenture, any references to principal of
(and premium, if any) and interest on Securities shall be deemed to include a reference to any Additional Amounts payable in respect thereof. 

As soon as practicable after the Company receives Tax Documentation from the Paying Agent, as set forth in Section 312, that relates
to the first Interest Payment Date with respect to a series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal and any premium is made), and that relates to each
date of payment of principal and any premium or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company will furnish the Trustee and the Company’s principal
Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether any payments due shall be made to Holders of Securities of that series without
withholding for or on account of any tax, duty, assessment or governmental charge described in the Securities. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to
be withheld on such payments to such Holders of Securities and the Company (only if a payment under said Securities are then due) will pay to the Trustee or such Paying Agent or Paying Agents the Additional Amounts required by this Section.

 Section 1009.    Restriction on Certain Liens. 

The Company will not, so long as any Securities remain Outstanding, create or permit to be outstanding any mortgage, charge, pledge or
other security interest upon the whole or any part of its property, assets or revenues, present or future, to secure for the benefit of the holders of any External Indebtedness (i) payment of any sum due in respect of any External Indebtedness
or (ii) any payment under any guarantee of any External Indebtedness or (iii) any payment under any indemnity or other like obligation relating to any External Indebtedness, without in any such case at the same time according to the
Security either the same security as is granted to or is outstanding in respect of such External Indebtedness or guarantee of or indemnity or other like obligation in respect of External Indebtedness or such other security, guarantee of or indemnity
or other like obligation as shall be approved with the consent of the Holders of a majority in principal amount of all Securities at the time Outstanding (considered together as one class for this purpose). For the purpose of this Section,
“External Indebtedness” means any indebtedness represented by bonds, debentures, notes or other similar investment securities with a stated maturity of more than one year from the creation thereof, which: 

(a) are either (i) by their terms payable, or confer a right to receive payment, in any currency other than Japanese
yen or (ii) denominated in Japanese yen and more than 50% of the aggregate principal amount thereof is initially distributed outside Japan by or with the authorization of the issuer thereof; and 

 

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 (b) are for the time being, or are intended to be, quoted, listed,
ordinarily dealt in or traded on any stock exchange or over-the-counter or other securities market outside Japan. 
 ARTICLE
ELEVEN 
 REDEMPTION OF SECURITIES 

Section 1101.    Applicability of Article. 

Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 
301 for such Securities) in accordance with this Article. 
 Section 1102.    
Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board
Resolution or in another manner specified as contemplated by Section 301 for such Securities. In case of any redemption at the election of the Company of less than all of the Securities of any series (including any such redemption affecting
only a single Security), the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of
Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such
Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction. 

Section 1103.    Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to
be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not
previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the principal amount of any Security of such series, provided that the
unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified
tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such
series and specified tenor not previously called for redemption in accordance with the preceding sentence. 
 The Trustee shall
promptly notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 

The provisions of the two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether
such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

 

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 Section 1104.    Notice of Redemption.

 Unless otherwise specified as contemplated by Section 301, notice of redemption shall be given by first-class mail,
postage prepaid, mailed not less than 30 days nor more than 60 days prior to the Redemption Date (or within such period as otherwise specified as contemplated by Section 301 for Securities of the relevant series), to each Holder of Securities
to be redeemed, at his address appearing in the Security Register. 
 All notices of redemption shall state: 

(1) the Redemption Date; 

(2) the Redemption Price; 

(3) if less than all the Outstanding Securities of any series consisting of more than a single Security are to be
redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single
Security are to be redeemed, the principal amount of the particular Security to be redeemed; 
 (4) that on the
Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; 

(5) the place or places where each such Security is to be surrendered for payment of the Redemption Price; 

(6) that the redemption is for a sinking fund, if such is the case; and 

(7) if applicable, the CUSIP, ISIN or other numbers of the Securities of that series. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company and, unless otherwise specified or contemplated by Section 301, shall be irrevocable. 

Section 1105.    Deposit of Redemption Price. 

Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date or the Securities of the series provide
otherwise) accrued interest on, all the Securities which are to be redeemed on that date. 

Section 1106.    Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the Redemption Date; provided, however, that, unless otherwise
specified as contemplated by Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the
close of business on the relevant Record Dates according to their terms and the provisions of Section 307. 
 If any
Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

 

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 Section 1107.    Securities Redeemed in
Part. 
 Any Security not constituting a global security which is to be redeemed only in part shall be surrendered at a Place
of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in
writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as
requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

Section 1108.    Optional Redemption for Tax Reasons. 

Unless otherwise specified as contemplated by Section 301 for a particular series of Securities, the Company may, on giving not more
than 60 nor less than 45 days’ notice to the Trustee (which notice shall be irrevocable), redeem the Securities of such series then outstanding at a redemption price equal to the principal amount of the Securities (or if the Securities are
Original Issue Discount Securities, such amount as determined as contemplated by Section 301) plus any accrued but unpaid interest through but not including the date fixed for redemption and any related Additional Amounts, in each case with
respect to the Securities being redeemed, in the event that: the Company determines that, as a result of any change in or amendment to the laws or treaties (or any regulations or rulings promulgated thereunder) of Japan or any political subdivision
or authority thereof or therein having power to tax, or any change in official position regarding the application or interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order by a court of competent
jurisdiction), which change in or amendment to such laws, treaties, regulations or rulings becomes effective on or after the date of the final offering document for the relevant series of Securities, the Company has or will become obligated to pay
Additional Amounts with respect to the Securities of such series. The Trustee will notify the Holders at least 30 days prior to the date fixed for any such redemption. Prior to the Company’s giving of any notice of redemption for tax reasons as
described in this paragraph, the Company shall deliver to the Trustee (i) an Officers’ Certificate stating that the Company is entitled to effect such redemption and setting forth a statement of facts showing that the conditions precedent
to the right of the Company to so redeem have occurred and (ii) an Opinion of Counsel to such effect based on such statement of facts; provided that no such notice of redemption shall be given earlier than 60 days prior to the earliest
date on which the Company would be obligated to pay such Additional Amounts if a payment in respect of the Securities were then due. 

ARTICLE TWELVE 

SINKING FUNDS 
 
Section 1201.    Applicability of Article. 
 The provisions of this Article shall be
applicable to any sinking fund for the retirement of Securities of any series except as otherwise specified as contemplated by Section 301 for such Securities. 

The minimum amount of any sinking fund payment provided for by the terms of any Securities is herein referred to as a “mandatory
sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund payment”. If provided for by the terms of any Securities, the cash
amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Securities as provided for by the terms of such Securities. 

Section 1202.    Satisfaction of Sinking Fund Payments with Securities. 

The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may
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of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in
satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such Securities; provided
that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed,
for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
 
Section 1203.    Redemption of Securities for Sinking Fund. 
 Not less than 60 days prior to
each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities
to be so delivered. Not less than 30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Sections 1106 and 1107. 
 ARTICLE THIRTEEN 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 1301.    Company’s Option to Effect Defeasance or Covenant Defeasance.

 Unless otherwise provided as contemplated by Section 301, Sections 1302 and 1303 shall apply to any Securities or any
series of Securities, as the case may be, in either case, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions
set forth below in this Article; and the Company may elect, at its option at any time, to have Sections 1302 and 1303 applied to any Securities, or any series of Securities, as the case may be, designated pursuant to Section 301 as being
defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election to have or not to
have Sections 1302 and 1303 apply, as the case may be, shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities. 

Section 1302.    Defeasance and Discharge. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the
case may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities applicable thereto, as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied
(hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations
under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise
terminated or discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and any
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respect to such Securities under Sections 304, 305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to
compliance with this Article, the Company may exercise its option (if any) to have this Section applied to the Securities of any series notwithstanding the prior exercise of its option (if any) to have Section 1303 applied to such Securities.

 Section 1303.    Covenant Defeasance. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the
case may be, (1) the Company shall be released from each of their obligations under any covenants provided pursuant to Section 301(19), 901(2) or 901(8) for the benefit of the Holders of such Securities, and (2) the occurrence of any
event specified in Sections 501(4) (with respect to any such covenants provided pursuant to Section 301(19), 901(2) or 901(8)) and 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities
as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such
Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to the extent so specified in the case of Section 501(4)), whether directly or
indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be
unaffected thereby. 
 Section 1304.    Conditions to Defeasance or Covenant
Defeasance. 
 The following shall be the conditions to the application of Section 1302 or Section 1303 to any
Securities or any series of Securities, as the case may be: 
 (1) The Company shall irrevocably have deposited
or caused to be deposited with the Trustee (or another trustee which satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of
making the following payments, specifically pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, in each case sufficient, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and
discharge, the principal of and any premium and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government Obligation” means
(x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised
by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not
callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is
specified in Clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held,
provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government
Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 
 (2) In the
event of an election to have Section 1302 apply to any Securities, or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling 
  

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or (B) since the date of this instrument, there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such
opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to
Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 

(3) In the event of an election to have Section 1303 apply to any Securities or any series of Securities, as the case
may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be
effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect that neither such
Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 

(5) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such
Securities or any other Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections 501(6) and (7), at any time on or prior to the 90th day after the date of such deposit (it
being understood that this condition shall not be deemed satisfied until after such 90th day). 
 (6) Such
Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act). 

(7) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under,
any other agreement or instrument to which the Company is a party or by which it is bound. 
 (8) Such Defeasance
or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration
thereunder. 
 (9) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

Section 1305.    Deposited Money and U.S. Government Obligations to Be Held in Trust;
Miscellaneous Provisions. 
 Subject to the provisions of the last paragraph of Section 1003, all money and U.S.
Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money
so held in trust need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of Outstanding Securities. 
  

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Table of Contents

 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to
such Securities. 
 Section 1306.    Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released
pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in
trust pursuant to Section 1305 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 

 
  

 

 53 

Table of Contents

 This instrument 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. 

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

			
	 NOMURA HOLDINGS, INC.,
 as Issuer

		
	By	 	 
	Name:	 	
	Title:	 	

  

			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee

		
	By	 	 
	Name:	 	
	Title:	 	
		
	By	 	 
	Name:	 	
	Title:	 	

  

 54Form of Specimen Master Medium-Term Note, Series A

 Exhibit 4.5 

[FORM OF SPECIMEN MASTER MEDIUM-TERM NOTE, SERIES A] 

(Face of Security) 

THIS SECURITY 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. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A
NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 INTEREST PAYMENTS ON THIS SECURITY WILL BE
SUBJECT TO JAPANESE WITHHOLDING TAX UNLESS THE HOLDER ESTABLISHES THAT THIS SECURITY IS HELD BY OR FOR THE ACCOUNT OF A HOLDER THAT IS (I) FOR JAPANESE TAX PURPOSES, NEITHER (X) AN INDIVIDUAL RESIDENT OF JAPAN OR A JAPANESE CORPORATION,
NOR (Y) AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A PERSON HAVING A SPECIAL RELATIONSHIP WITH THE COMPANY AS DESCRIBED IN ARTICLE 6, PARAGRAPH 4 OF THE ACT ON SPECIAL MEASURES CONCERNING TAXATION
OF JAPAN (THE “SPECIAL TAXATION MEASURES ACT”) (SUCH PERSON BEING HEREINAFTER REFERRED TO AS A “SPECIALLY-RELATED PERSON OF THE COMPANY”) OR (II) A JAPANESE DESIGNATED FINANCIAL INSTITUTION AS DESCRIBED IN ARTICLE 6, PARAGRAPH 9
OF THE SPECIAL TAXATION MEASURES ACT WHICH COMPLIES WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH. 
 INTEREST
PAYMENTS ON THIS SECURITY TO AN INDIVIDUAL RESIDENT OF JAPAN, TO A JAPANESE CORPORATION NOT DESCRIBED IN ITEM (II) OF THE PRECEDING PARAGRAPH, OR TO AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A
SPECIALLY-RELATED PERSON OF THE COMPANY WILL BE SUBJECT TO DEDUCTION IN RESPECT OF JAPANESE INCOME TAX AT A RATE OF 15% OF THE AMOUNT SPECIFIED IN SUBPARAGRAPHS (A) OR (B) BELOW, AS APPLICABLE: 

 

	(A)	IF INTEREST IS PAID TO AN INDIVIDUAL RESIDENT OF JAPAN, TO A JAPANESE CORPORATION, OR TO AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN
EITHER CASE IS A SPECIALLY-RELATED PERSON OF THE COMPANY (EXCEPT AS PROVIDED IN SUBPARAGRAPH (B) BELOW), THE AMOUNT OF SUCH INTEREST; OR 

  

	(B)	IF INTEREST IS PAID TO A PUBLIC CORPORATION, A FINANCIAL INSTITUTION, A FINANCIAL INSTRUMENTS BUSINESS OPERATOR OR CERTAIN OTHER ENTITIES THROUGH A JAPANESE PAYMENT
HANDLING AGENT AS PROVIDED IN ARTICLE 3-3, PARAGRAPH 6 OF THE SPECIAL TAXATION MEASURES ACT IN COMPLIANCE WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH, THE AMOUNT OF SUCH INTEREST MINUS THE AMOUNT PROVIDED IN THE CABINET ORDER
RELATING TO SAID PARAGRAPH 6. 

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO NOMURA HOLDINGS, INC., OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS SECURITY IS A MASTER NOTE WITHIN THE MEANING SPECIFIED HEREIN. 

 THE PERSON MAKING THE DECISION TO ACQUIRE THIS SECURITY SHALL BE DEEMED, ON BEHALF OF ITSELF
AND THE HOLDER, BY ACQUIRING AND HOLDING THIS SECURITY, OR EXERCISING ANY RIGHTS RELATED THERETO, TO REPRESENT THAT: 
 EITHER
(1) IT (I) IS NOT (A) A PENSION, PROFIT-SHARING OR OTHER EMPLOYEE BENEFIT PLAN SUBJECT TO THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) OR INDIVIDUAL RETIREMENT ACCOUNT, KEOGH PLAN OR ANY
OTHER PLAN THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, THE (“CODE”) (EACH A “PLAN”), (B) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S
INVESTMENT IN SUCH ENTITY (REFERRED TO HEREIN AS A “PLAN ASSET ENTITY”) OR (C) AN EMPLOYEE BENEFIT PLAN THAT IS A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA), A CHURCH PLAN (AS DEFINED IN SECTION 3(33) OF ERISA)
OR A NON-U.S. PLAN (AS DESCRIBED IN SECTION 4(B)(4) OF ERISA) (EACH REFERRED TO HEREIN AS A “NON-ERISA ARRANGEMENT”), AND (II) IS NOT IS NOT PURCHASING THIS SECURITY ON BEHALF OF OR WITH THE ASSETS OF ANY PLAN, PLAN ASSET ENTITY OR
NON-ERISA ARRANGEMENT OR (2) THE PURCHASE AND HOLDING OF THIS SECURITY AND ANY INTEREST HEREIN WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION OF
PROVISIONS UNDER APPLICABLE FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS WHICH ARE SIMILAR TO THE PROHIBITED TRANSACTION RESTRICTIONS OF SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE. 

THIS SECURITY IS NOT A BANK DEPOSIT AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY, NOR
IS IT AN OBLIGATION OF, OR GUARANTEED BY, A BANK. 
  

 2 

 NOMURA HOLDINGS, INC. 

MEDIUM-TERM NOTES, SERIES A 

(Master Note) 

This Security is a Global Security within the meaning of the Indenture (as defined in Section 1 on the reverse hereof) and
represents one or more obligations of Nomura Holdings, Inc., a joint stock corporation with limited liability duly organized and existing under the laws of Japan (hereinafter called the “Company”, which term includes any successor Person
under the Indenture) (each such obligation, a “Supplemental Obligation”). The terms of each Supplemental Obligation are and will be reflected in this Security and in the applicable pricing supplement to the Company’s prospectus, dated
September 8, 2010 (as supplemented by the Company’s prospectus supplement, dated September 8, 2010, relating to the Company’s Medium-Term Notes, Series A program), relating to such Supplemental Obligation, which supplement and prospectus,
as so supplemented, are on file with the Trustee hereinafter referred to and which supplement is identified on Schedule A hereto (each such pricing supplement, together with such prospectus, as so supplemented, a “Pricing Supplement”);
provided, however, that from time to time the Company may deliver to the Trustee any other replacement or successor prospectus or prospectus supplement relating to the Company’s Medium-Term Notes, Series A program, in each case identified as
relating to Supplemental Obligations issued after the date of such delivery to the Trustee and certified by the President, the Deputy President, the Chief Financial Officer or other executive officer (shikkou-yaku) of the Company as may be
authorized to act under the Indenture, in which case any applicable pricing supplement to such replacement or successor prospectus supplement, together with such replacement or successor prospectus, as so supplemented, will be deemed to be a
“Pricing Supplement”. With respect to each Supplemental Obligation, the provisions of the applicable Pricing Supplement are hereby incorporated by reference herein and are deemed to be a part of this Security as of the Original Issue Date
specified on Schedule A. Each reference to “this Security” includes and shall be deemed to refer to each Supplemental Obligation. 

With respect to each Supplemental Obligation, every term of this Security is subject to modification, amendment or elimination (to the
extent permitted by the Indenture) through the incorporation of the applicable Pricing Supplement by reference, whether or not the phrase “unless otherwise provided in the Pricing Supplement” or language of similar import precedes the term
of this Security so modified, amended or eliminated. It is the intent of the parties hereto that, in the case of any conflict between the terms of a Pricing Supplement and the terms herein, the terms of the Pricing Supplement (to the extent
permitted by the Indenture) shall control over the terms herein with respect to the relevant Supplemental Obligation. Without limiting the foregoing, in the case of each Supplemental Obligation, the Holder of this Security is directed to the
applicable Pricing Supplement for a description of certain terms of such Supplemental Obligation, including, in the case of any such obligation that is designated in the applicable Pricing Supplement as an “indexed note” (an “Indexed
Note”), the manner of determining the principal amount of and interest, if any, on such Supplemental Obligation, the dates, if any, on which the principal amount of and interest, if any, on such Supplemental Obligation is determined and
payable, the amount payable upon any acceleration of such Supplemental Obligation and the principal amount of such Supplemental Obligation deemed to be Outstanding for purposes of determining whether Holders of the requisite principal amount of
Securities have made or given any request, demand, authorization, direction, notice, consent, waiver or other action under the Indenture. 

Terms that are used and not defined in this Security but that are defined in the Indenture are used herein as defined therein.

 This Security is a “Master Note”, which term means a Global Security that provides for incorporation therein of the
terms of Supplemental Obligations by reference to the applicable Pricing Supplements, substantially as contemplated herein. 

The Company, for value received, hereby promises to pay to CEDE & CO., as nominee for The Depository Trust Company, or
registered assigns: (i) on each principal payment date, including each redemption 
  

 3 

 
date, repayment date or maturity date, as applicable, of each Supplemental Obligation, the principal amount and any premium then due and payable for each such Supplemental Obligation, and
(ii) on each interest payment date and at maturity, the interest then due and payable, if any, with respect to each Supplemental Obligation. 

With respect to each Supplemental Obligation, the Company shall pay the principal amount and any premium specified in the applicable
Pricing Supplement on the Stated Maturity shown therein, and shall pay interest on such principal, from the date specified therein as the “Original Issue Date” (or in a comparable manner) (the “Original Issue Date” for such
Supplemental Obligation) or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, on the Interest Payment Date(s) in each year, commencing on the first such date that is at least 15
calendar days after the Original Issue Date, and at the Maturity of such principal, as follows: 
 (i) in the case of a
Supplemental Obligation for which the interest rate is designated as fixed in the applicable Pricing Supplement (a “Fixed Rate Note”), at a rate per annum equal to a rate specified in such Pricing Supplement until the principal of such
Supplemental Obligation is paid or made available for payment and (to the extent that the payment of such interest shall be legally enforceable) at the rate per annum equal to the rate at which the principal then bears interest on any overdue
premium or installment of interest from the date any such overdue amount first becomes due until it is paid or made available for payment, provided that interest on any premium or installment of interest that is overdue shall be payable on demand;

 (ii) in the case of a Supplemental Obligation for which the interest rate is designated as floating in the applicable Pricing
Supplement (a “Floating Rate Note”), at a rate per annum determined in accordance with the applicable provisions of Section 3A on the reverse hereof, with such rate being dependent in part upon whether the rate specified as the
“base rate” (or in a comparable manner) in the applicable Pricing Supplement (the “Base Rate” for such Supplemental Obligation) is the CD Rate, the CMS Rate, the CMT Rate, the commercial paper rate, EURIBOR, the federal funds
rate, LIBOR, the prime rate, the treasury rate or the 11th district rate, until the principal of such Supplemental Obligation is paid or made available for payment and (to the extent that the payment of such interest shall be legally enforceable) at
the rate at which the principal then bears interest on any overdue premium or installment of interest from the date any such overdue amount first becomes due until it is paid or made available for payment, provided that interest on any premium or
installment of interest that is overdue shall be payable on demand; and 
 (iii) in the case of a Supplemental Obligation that
is an Indexed Note, at such rate or in such manner, if any, as may be specified in the applicable Pricing Supplement. 
 With
respect to each Supplemental Obligation that is a Fixed Rate Note and unless otherwise specified in the applicable Pricing Supplement, interest (other than interest on overdue amounts) shall be payable by the Company, on the applicable Interest
Payment Dates. 
 With respect to each Supplemental Obligation that is a Floating Rate Note and unless otherwise specified in
the applicable Pricing Supplement, interest (other than interest on overdue amounts) shall be payable: 
  

	 	•	 	 if the interest reset period specified in the applicable Pricing Supplement (the “Interest Reset Period” for such Supplemental Obligation) is
daily, weekly or monthly, on the third Wednesday of each month or on the third Wednesday of March, June, September and December of each year, as specified in the applicable Pricing Supplement; 

 

	 	•	 	 if the Interest Reset Period is quarterly, on the third Wednesday of March, June, September and December of each year; 

 

	 	•	 	 if the Interest Reset Period is semi-annual, on the third Wednesday of the two months specified in the applicable Pricing Supplement;

  

	 	•	 	 and if the Interest Reset Period is annual, on the third Wednesday of the month specified in the applicable Pricing Supplement;

  

 4 

 provided that, unless otherwise specified in the applicable Pricing Supplement, the following sentence shall
apply with respect to any such day on which interest would otherwise be payable, other than any such day on which the Maturity of the principal of such Floating Rate Note falls: If any such day is not a Business Day (as defined in Section 3C(b)
on the reverse hereof) the day on which interest should be payable shall be deferred to the next succeeding Business Day, provided that, if the Base Rate is LIBOR or EURIBOR and such next succeeding Business Day falls in the next calendar month, the
day on which interest should be payable shall be advanced to the next preceding Business Day. 
 With respect to each
Supplemental Obligation that is an Indexed Note, such interest, if any, will be payable on the dates specified in the applicable Pricing Supplement. 

Each date so determined or provided for in the preceding three paragraphs (or the applicable Pricing Supplement) is hereinafter referred
to as an “Interest Payment Date”. 
 The interest so payable, and punctually paid or made available for payment, on
any Interest Payment Date will, as provided in the Indenture and unless otherwise provided in the applicable Pricing Supplement, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on the 15th calendar day (whether or not a Business Day) next preceding such Interest Payment Date (a “Regular Record Date”). Any interest so payable, but not punctually paid or made available for payment, on any Interest Payment
Date will forthwith cease to be payable to the Holder on such Regular Record Date and such Defaulted Interest may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Security not less than 10 days prior to such Special Record Date, or be paid in any other lawful
manner not inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. For the purpose of determining the
Holder at the close of business on any relevant record date when business is not being conducted, the close of business will mean 5:00 P.M., New York City time, on that day. With respect to any Supplemental Obligation, references herein to the
“Holder” mean the Holder of this Security. 
 Currency of Payment 

Payment of principal of (and premium, if any) and interest on any Supplemental Obligation will be made in the currency designated as the
“specified currency” for such payment (or in a comparable manner) in the applicable Pricing Supplement (the “Specified Currency” for any payment on such Supplemental Obligation), except as provided in this and the next three
paragraphs. For each Supplemental Obligation, any payment shall be made in the Specified Currency for such payment unless, at the time of such payment, such currency is not legal tender for the payment of public and private debts in the country
issuing such currency on the Original Issue Date, in which case the Specified Currency for such payment shall be such coin or currency as at the time of such payment is legal tender for the payment of public and private debts in such country, except
as provided in the next sentence. If the euro is the Specified Currency for any payment, the Specified Currency for such payment shall be such coin or currency as at the time of payment is legal tender for the payment of public and private debts in
all EMU Countries (as defined in Section 3C(b) on the reverse hereof), provided that, if on any day there are not at least two EMU Countries, or if on any day there are at least two EMU Countries but no coin or currency is legal tender for the
payment of public and private debts in all EMU Countries, then the Specified Currency for such payment shall be deemed not to be available to the Company on such day. 

If provided in the applicable Pricing Supplement and except as provided in the next paragraph, any payment to be made on a
Supplemental Obligation in a Specified Currency other than U.S. dollars will be made in U.S. dollars if the Person entitled to receive such payment transmits a written request for such payment to be made in U.S. dollars to the Trustee at its office
located at 60 Wall Street, 27th Floor, MS: NYC60-2710, New York, New York, 10005, Attention: Manager Corporate Team — Nomura Holdings, Inc., on or before the fifth 

 

 5 

 
Business Day before the payment is to be made. Such written request may be mailed, hand delivered, telecopied or delivered in any other manner approved by the Trustee. Any such request made with
respect to any payment on a Supplemental Obligation payable to a particular Holder will remain in effect for all later payments on such Supplemental Obligation payable to such Holder, unless such request is revoked on or before the fifth Business
Day before a payment is to be made, in which case such revocation shall be effective for such and all later payments. In the case of any payment of interest payable on an Interest Payment Date, such written request must be made by the Person who is
the registered Holder of this Security on the relevant Regular Record Date. 
 The U.S. dollar amount of any payment made
pursuant to the immediately preceding paragraph will be determined by the Exchange Rate Agent (as defined in Section 3C(a) on the reverse hereof) based upon the highest bid quotation received by the Exchange Rate Agent as of 11:00 A.M., New
York City time, on the second Business Day next preceding the applicable payment date, from three (or, if three are not available, then two) recognized foreign exchange dealers selected by the Exchange Rate Agent in The City of New York, in each
case for the purchase by the quoting dealer, for U.S. dollars and for settlement on such payment date of an amount of such Specified Currency for such payment equal to the aggregate amount of such Specified Currency payable on such payment date to
all Holders of this Security who elect to receive U.S. dollar payments on such payment date, and at which the applicable dealer commits to execute a contract. If the Exchange Rate Agent determines that two such bid quotations are not available on
such second Business Day, such payment will be made in the Specified Currency for such payment. All currency exchange costs associated with any payment in U.S. dollars on this Security will be borne by the Holder entitled to receive such payment, by
deduction from such payment. 
 Notwithstanding the foregoing, if any amount payable on a Supplemental Obligation is payable on
any day (including at Maturity) in a Specified Currency other than U.S. dollars, and if such Specified Currency is not available to the Company on the two Business Days before such day, due to the imposition of exchange controls, a disruption in the
currency markets or any other circumstances beyond the control of the Company, the Company will be entitled to satisfy its obligation to pay such amount in such Specified Currency by making such payment in U.S. dollars. The amount of such payment in
U.S. dollars shall be determined by the Exchange Rate Agent on the basis of the noon buying rate in The City of New York, as quoted by The Federal Reserve Bank of New York, for cable transfers for such Specified Currency (the “Exchange
Rate”) as of the latest day before the day on which such payment is to be made. Any payment made under such circumstances in U.S. dollars where the required payment is in other than U.S. dollars will not constitute an Event of Default under the
Indenture or this Security. 
 Manner of Payment—U.S. Dollars 

Except as provided in the next paragraph, payment of any amount payable on any Supplemental Obligation in U.S. dollars will be made at the
office or agency of the Company maintained for that purpose in The City of New York (or at any other office or agency maintained by the Company for that purpose), in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts, against surrender (in the manner provided below) of such Supplemental Obligation in the case of any payment due at Maturity of the principal of such Supplemental Obligation (other than any
payment of interest that first becomes due on an Interest Payment Date); provided, however, that, at the option of the Company and subject to the next paragraph, payment of interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register. 
 Payment of any amount payable on any Supplemental Obligation
in U.S. dollars will be made by wire transfer of immediately available funds to an account maintained by the payee with a bank located in the Borough of Manhattan, The City of New York, if (i) the principal of such Supplemental Obligation is at
least $1,000,000 (or the equivalent in another currency) and (ii) the Holder entitled to receive such payment transmits a written request for such payment to be made in such manner to the Trustee at its office located at 60 Wall Street, 27th
Floor, MS: NYC60-2710, New York, New York, 10005, Attention: Manager Corporate Team — Nomura Holdings, Inc., on or before the fifth Business Day before the day on which such payment is to

  

 6 

 
be made; provided that, in the case of any such payment due at the Maturity of the principal of such Supplemental Obligation (other than any payment of interest that first becomes due on an
Interest Payment Date), this Security must be surrendered (in the manner provided below) at the office or agency of the Company maintained for that purpose in The City of New York (or at any other office or agency maintained by the Company for that
purpose) in time for the Paying Agent to make such payment in such funds in accordance with its normal procedures. Any such request made with respect to any payment on such Supplemental Obligation payable to a particular Holder will remain in effect
for all later payments on such Supplemental Obligation payable to such Holder, unless such request is revoked on or before the fifth Business Day before a payment is to be made, in which case such revocation shall be effective for such and all later
payments. In the case of any payment of interest payable on a Supplemental Obligation on an Interest Payment Date, such written request must be made by the Person who is the registered Holder of this Security on the relevant Regular Record Date. The
Company will pay any administrative costs imposed by banks in connection with making payments by wire transfer with respect to this Security, but any tax, assessment or other governmental charge imposed upon any payment will be borne by the Holder
of this Security and may be deducted from the payment by the Company or the Paying Agent. 
 Manner of Payment—Other Specified
Currencies 
 Payment of any amount payable on any Supplemental Obligation in a Specified Currency other than U.S.
dollars will be made by wire transfer of immediately available funds to such account as is maintained in such Specified Currency at a bank or other financial institution acceptable to the Company and the Trustee and as shall have been designated at
least five Business Days prior to the applicable payment date by the Person entitled to receive such payment; provided that, in the case of any such payment due at the Maturity of the principal of such Supplemental Obligation (other than any payment
of interest that first becomes due on an Interest Payment Date), this Security must be surrendered (in the manner provided below) at the office or agency of the Company maintained for that purpose in The City of New York (or at any other office or
agency maintained by the Company for that purpose) in time for the Paying Agent to make such payment in such funds in accordance with its normal procedures. Such account designation shall be made by transmitting the appropriate information to the
Trustee at its office located at 60 Wall Street, 27th Floor, MS: NYC60-2710, New York, New York, 10005, in the Borough of Manhattan, The City of New York, by mail, hand delivery, telecopier or in any other manner approved by the Trustee. Unless
revoked, any such account designation made with respect to any Supplemental Obligation by the Holder hereof will remain in effect with respect to any further payments with respect to such Supplemental Obligation payable to such Holder. If a payment
in a Specified Currency other than U.S. dollars with respect to any Supplemental Obligation cannot be made by wire transfer because the required account designation has not been received by the Trustee on or before the requisite date or for any
other reason, the Company will cause a notice to be given to the Holder of this Security at its registered address requesting an account designation pursuant to which such wire transfer can be made and such payment will be made within five Business
Days after the Trustee’s receipt of such a designation meeting the requirements specified above, with the same force and effect as if made on the due date. The Company will pay any administrative costs imposed by banks in connection with making
payments by wire transfer with respect to this Security, but any tax, assessment or other governmental charge imposed upon any payment will be borne by the Holder of this Security and may be deducted from the payment by the Company or the Paying
Agent. 
 Manner of Payment—Payments Pursuant to the Applicable Procedures of the Depositary; Surrender of this Security 

 Notwithstanding any provision of this Security or the Indenture, the Company may make any and all payments of principal,
premium and interest on this Security pursuant to the Applicable Procedures of the Depositary for this Security as permitted in the Indenture. 

Notwithstanding the foregoing, whenever the provisions hereof require that this Security be surrendered against payment of the principal
of a Supplemental Obligation, such surrender may be effected by means of an 
  

 7 

 
appropriate adjustment to Schedule A hereto to reflect the discharge of such Supplemental Obligation, with such adjustment to be made by the Trustee in a manner not inconsistent with the
Applicable Procedures of the Depositary for this Security, and in such circumstances this Security need not actually be surrendered. This paragraph shall apply only to a Master Note. 

Payments Due on a Business Day 

Notwithstanding any provision of this Security or the Indenture, if the Maturity of the principal of any Supplemental Obligation occurs on
a day that is not a Business Day, any amount of principal, premium or interest that would otherwise be due on such Supplemental Obligation on such day (the “Specified Day”) may be paid or made available for payment on the Business Day that
is next succeeding the Specified Day with the same force and effect as if such amount were paid on the Specified Day, and no interest will accrue on the amount so payable for the period from the Specified Day to such next succeeding Business Day.

 As specified for each Supplemental Obligation, one of the following Business Day Conventions shall apply to any relevant date
other than one that falls on the date of Maturity of the principal of such Supplemental Obligation. If any such date would otherwise fall on a day that is not a Business Day: 

 

	 	•	 	 if the Business Day Convention is “Following”, then such date will be postponed to the next day that is a Business Day;

  

	 	•	 	 if the Business Day Convention is “Modified Following”, then such date will be postponed to the next day that is a Business Day; provided
that, if such next succeeding Business Day falls in the next calendar month, then such date will be advanced to the immediately preceding Business Day; 

 

	 	•	 	 if the Business Day Convention is “Following Unadjusted”, any payment due on such date will be postponed to the next day that is a Business
Day; provided that interest due with respect to such Interest Payment Date shall not accrue from and including such Interest Payment Date to and including such next succeeding Business Day; and 

 

	 	•	 	 if the Business Day Convention is “Modified Following Unadjusted”, any payment due on such date will be postponed to the next day that is a
Business Day; provided that interest due with respect to such Interest Payment Date shall not accrue from and including such Interest Payment Date to and including such next succeeding Business Day, and provided further that, if such next succeeding
Business Day would fall in the next succeeding calendar month, the date of payment with respect to such Interest Payment Date will instead be advanced to the immediately preceding Business Day. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  

 8 

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

Dated: [    ], 2010 
  

					
	NOMURA HOLDINGS, INC.
		
	 By:
	 	  

		 	 Name:
	 	
[                    ]

		 	 Title:
	 	
[                    
]

  

 9 

 This is one of the Securities of the series designated herein and referred to in the
Indenture. 
 Dated: [    ], 2010 

 

	
	 DEUTSCHE BANK TRUST COMPANY

AMERICAS, as Trustee

	
	
By:                       
                                         
                                

	       Authorized Signatory

 

 10 

 (Reverse of Security) 

1. Securities and Indenture 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”) issued and to be
issued in one or more series under the Amended and Restated Senior Debt Indenture, dated as of [    ], 2010 (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between
the Company and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

In the case of the acquisition of all or a portion of a Supplemental Obligation by the Company or any Affiliate thereof, the Company or
such Affiliate may submit to the Trustee such evidence of such acquisition as is reasonably acceptable to the Trustee, whereupon the Trustee, at the Company’s direction, shall reduce the principal amount of such Supplemental Obligation in
Schedule A hereto by such acquired amount, and the principal amount of such Supplemental Obligation shall be reduced accordingly for all purposes of this Security. 

2. Series and Denominations 

This Security is one of the series of Securities designated on the face hereof, limited to an aggregate principal amount (or the
equivalent thereof in any other currency or currencies or currency units) as shall be determined and may be increased from time to time by the Company. References herein to “this series” mean the series of Securities designated as
Medium-Term Notes, Series A. 
 This Security and each Supplemental Obligation are issuable only in registered form without
coupons in “Authorized Denominations”, which term shall have the following meaning. For each Supplemental Obligation having a principal amount payable in U.S. dollars, the Authorized Denominations shall be $2,000 and integral multiples of
$1,000 in excess thereof, unless otherwise provided in the applicable Pricing Supplement. For each Supplemental Obligation having a principal amount payable in a Specified Currency other than U.S. dollars, the Authorized Denominations shall be the
amount of such Specified Currency equivalent, at the Exchange Rate on the first Business Day preceding the date on which the Company accepts the offer to purchase such Security, to $2,000 and integral multiples of $1,000 in excess thereof, unless
otherwise provided in the applicable Pricing Supplement. 
 3. 

3A. Interest Rate on Floating Rate Notes 

Unless otherwise provided in the applicable Pricing Supplement, the provisions of this Section 3A shall apply with respect to each
Supplemental Obligation that is a Floating Rate Note. 
 (a) Interest Rate Reset. The interest rate on such
Supplemental Obligation will be reset from time to time, as provided in this Section 3A, and each date upon which such rate is reset as so provided is hereinafter called an “Interest Reset Date” for such Supplemental Obligation.
Unless otherwise specified in the applicable Pricing Supplement, the Interest Reset Dates with respect to such Supplemental Obligation will be as follows: 

(i) if the Interest Reset Period is daily, each Business Day; 

(ii) if the Interest Reset Period is weekly and the Base Rate is not the treasury rate, the Wednesday of each week;

 (iii) if the Interest Reset Period is weekly and the Base Rate is the treasury rate, except as otherwise
provided in the definition of “Treasury Interest Determination Date” in Section 3A(n) below, the Tuesday of each week; 
  

 11 

 (iv) if the Interest Reset Period is monthly, the third Wednesday of each
month; 
 (v) if the Interest Reset Period is quarterly, the third Wednesday of each March, June, September and
December; 
 (vi) if the Interest Reset Period is semi-annual, the third Wednesday of each of two months in each
year specified under “interest reset period” (or in a comparable manner) in the applicable Pricing Supplement; and 

(vii) if the Interest Reset Period is annual, the third Wednesday of the month in each year specified under “interest
reset period” (or in a comparable manner) in the applicable Pricing Supplement; 
 provided, however, that (x) the Base Rate in effect
from and including the Original Issue Date to but excluding the initial Interest Reset Date will be the rate specified as the “initial base rate” (or in a comparable manner) in the applicable Pricing Supplement (the “Initial Base
Rate” for such Supplemental Obligation) and (y) if the Interest Reset Period is daily or weekly, the Base Rate in effect for each day following the second Business Day immediately prior to an Interest Payment Date to but excluding such
Interest Payment Date, and for each day following the second Business Day immediately prior to the day of Maturity of the principal of such Supplemental Obligation to but excluding such day of Maturity, will be the Base Rate in effect on such
applicable second Business Day; and provided, further, if so specified, that any Interest Reset Date shall be subject to adjustment as provided in the second paragraph under the heading “Payments Due on a Business Day” on the face of this
Security. 
 Subject to applicable provisions of law and except as otherwise specified herein or in the applicable Pricing
Supplement, on each Interest Reset Date the interest rate on a Supplemental Obligation shall be the rate determined in accordance with such of the following Sections 3A(b) through 3A(k) as provide for determination of the Base Rate for such
Supplemental Obligation. The Calculation Agent (as defined in Section 3C(a) below) shall determine the interest rate on such Supplemental Obligation in accordance with the applicable Section below. 

Unless the Base Rate is LIBOR or EURIBOR, the Calculation Agent will determine the interest rate on such Supplemental Obligation that
takes effect on any Interest Reset Date on a day no later than the Calculation Date (as defined in Section 3A(n) below) corresponding to such Interest Reset Date. However, the Calculation Agent need not wait until the Calculation Date to
determine such interest rate if the rate information it needs to make such determination in the manner specified in the applicable provisions of Sections 3A(b) through 3A(k) hereof is available from the relevant sources specified in such applicable
provisions. 
 Upon request of the Holder to the Calculation Agent, the Calculation Agent will provide the interest rate then in
effect on such Supplemental Obligation and, if determined, the interest rate that will become effective on the next Interest Reset Date. 

(b) Determination of CD Rate. If the Base Rate specified for such Supplemental Obligation is the CD rate, the Base
Rate that takes effect on any Interest Reset Date shall equal the rate, on the second Business Day immediately preceding such Interest Reset Date (the “CD Interest Determination Date”), for negotiable U.S. dollar certificates of deposit
having the Index Maturity as published in H.15(519) (as defined in Section 3A(n) below) opposite the heading “CDs (secondary market)”. If the CD rate cannot be determined as described above, the following procedures will apply in
determining the CD rate: 
 (i) If the rate described above does not appear in H.15(519) at 3:00 P.M., New York
City time, on the Calculation Date corresponding to such CD Interest Determination Date (unless the calculation is made earlier and the rate is available from that source at that time), then the CD rate shall be the rate described above as published
in H.15 Daily Update, or another recognized electronic source used for displaying that rate, under the heading “CDs (secondary market)”. 
  

 12 

 (ii) If the rate described in clause (i) above does not appear in
H.15(519), H.15 Daily Update or another recognized electronic source at 3:00 P.M., New York City time, on such Calculation Date (unless the calculation is made earlier and the rate is available from one of those sources at that time), then the CD
rate shall be the arithmetic mean of the following secondary market offered rates for negotiable U.S. dollar certificates of deposit of major U.S. money center banks having a remaining maturity closest to the Index Maturity specified for such
Supplemental Obligation and in a Representative Amount: the rates offered as of 10:00 A.M., New York City time, on such CD Interest Determination Date, by three leading nonbank dealers in negotiable U.S. dollar certificates of deposit in New York
City, as selected by the Calculation Agent. 
 (iii) If fewer than three dealers selected by the Calculation
Agent are quoting as described in clause (ii) above, the CD rate will be the CD rate in effect on such CD Interest Determination Date (or, in the case of the first Base Reset Date, the Initial Base Rate). 

(c) Determination of CMS Rate. If the Base Rate specified for such Supplemental Obligation is the CMS Rate, the Base
Rate that takes effect on any Interest Reset Date shall equal the rate, on the second Business Day immediately preceding such Interest Reset Date (the “CMS Interest Determination Date”), appearing on the Reuters Screen ISDAFIX2 Page under
the heading “EURIBOR Basis-EUR” or “LIBOR Basis-EUR”, for the Index Maturity, at 10:00 A.M., London time. If the CMS Rate cannot be determined as described above, the following procedures will apply in determining the CMS Rate:

 (i) If the rate described above does not appear on Reuters ISDAFIX2 page under the appropriate heading for the
Index Maturity at 10:00 A.M., London time, on the Calculation Date corresponding to such CMS Interest Determination Date, unless the calculation is made earlier and the rate is available from that source at that time, then the CMS rate will be
determined on the basis of the mid-market semi-annual swap rate quotations provided by five leading swap dealers in the London interbank market at approximately 10:00 A.M., London time, on the CMS Interest Determination Date. For this purpose, the
semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating euro interest rate swap transaction with a term equal to the specified Index Maturity
commencing on the CMS Interest Determination Date with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on an actual /360 day count basis, is equivalent to EURIBOR (in the case of EURIBOR Basis-EUR) or
LIBOR (in the case of LIBOR Basis-EUR) with a maturity of three months, as such rate may be determined as provided in Section 3A(f). The Calculation Agent will select the five swap dealers in its sole discretion and will request the principal
London office of each of those dealers to provide a quotation of its rate. 
 (ii) If at least three quotations
are provided, the CMS Rate for the CMS Interest Determination Date will be the arithmetic mean of the quotations, eliminating the highest and lowest quotations or, in the event of equality, one of the highest and one of the lowest quotations.

 (iii) If fewer than three quotations are provided, the Calculation Agent will determine the CMS Rate in its
sole discretion. 
 (d) Determination of CMT Rate. If the Base Rate specified for such Supplemental
Obligation is the CMT rate, the Base Rate that takes effect on any Interest Reset Date shall equal the CMT rate on the second Business Day immediately preceding such Interest Reset Date (the “CMT Interest Determination Date”). “CMT
rate” means the following rate as published in H.15(519) opposite the heading “Treasury constant maturities”, as the yield is displayed on the Designated CMT Reuters Screen Page (as defined in Section 3A(n) below) under the
heading “Treasury Constant Maturities”, under the column for the Designated CMT Index Maturity (as defined in Section 3A(n) below): 

(x) if the Designated CMT Reuters Screen Page is the Reuters Screen FRBCMT Page, the rate for such CMT Interest
Determination Date; or 
 (y) if the Designated CMT Reuters Screen Page is the Reuters Screen FEDCMT Page, the
weekly or monthly average, as specified on the face hereof, for the week that ends immediately before the week in 
  

 13 

 
which such CMT Interest Determination Date falls, or for the month that ends immediately before the month in which such CMT Interest Determination Date falls, as applicable. 

If the CMT rate cannot be determined as described above, the following procedures will apply in determining the CMT rate: 

(i) If the applicable rate described above is not displayed on the relevant Designated CMT Reuters Screen Page at 3:00
P.M., New York City time, on the Calculation Date corresponding to such CMT Interest Determination Date (unless the calculation is made earlier and the rate is available from that source at that time), then the CMT rate will be the applicable
Treasury constant maturity rate described above — i.e., for the Designated CMT Index Maturity and for either such CMT Interest Determination Date or the weekly or monthly average, as applicable — as published in H.15(519). 

(ii) If the applicable rate described in clause (i) above does not appear in H.15(519) at 3:00 P.M., New York City
time, on such Calculation Date (unless the calculation is made earlier and the rate is available from that source at that time), then the CMT rate will be the Treasury constant maturity rate, or other U.S. treasury rate, for the Designated CMT Index
Maturity and with reference to such CMT Interest Determination Date, that: 
 (a) is published by the Board of
Governors of the Federal Reserve System, or the U.S. Department of the Treasury, and 
 (b) is determined by the
Calculation Agent to be comparable to the applicable rate formerly displayed on the Designated CMT Reuters Screen Page and published in H.15(519). 

(iii) If the rate described in clause (ii) above does not appear in H.15(519) at 3:00 P.M., New York City time, on
such Calculation Date (unless the calculation is made earlier and the rate is available from that source at that time), then the CMT rate will be the yield to maturity of the arithmetic mean of the following secondary market offered rates for the
most recently issued Treasury Notes (as defined in Section 3A(n) below) having an original maturity of approximately the Designated CMT Index Maturity, having a remaining term to maturity of not less than the Designated CMT Index Maturity minus
one year and in a Representative Amount: the offered rates, as of approximately 3:30 P.M., New York City time, on such CMT Interest Determination Date, of three primary U.S. government securities dealers in New York City selected by the Calculation
Agent. In selecting such offered rates, the Calculation Agent will request quotations from five such primary dealers and will disregard the highest quotation — or, if there is equality, one of the highest — and the lowest quotation —
or, if there is equality, one of the lowest. 
 (iv) If the Calculation Agent is unable to obtain three
quotations of the kind described in clause (iii) above, the CMT rate will be the yield to maturity of the arithmetic mean of the following secondary market offered rates for Treasury Notes having an original maturity longer than the Designated
CMT Index Maturity, having a remaining term to maturity closest to the Designated CMT Index Maturity and in a Representative Amount: the offered rates, as of approximately 3:30 P.M., New York City time, on such CMT Interest Determination Date, of
three primary U.S. government securities dealers in New York City selected by the Calculation Agent. In selecting such offered rates, the Calculation Agent will request quotations from five such primary dealers and will disregard the highest
quotation — or, if there is equality, one of the highest — and the lowest quotation — or, if there is equality, one of the lowest. If two Treasury Notes with an original maturity longer than the CMT Designated Index Maturity have
remaining terms to maturity that are equally close to the Designated CMT Index Maturity, the Calculation Agent will obtain quotations for the Treasury Notes with the shorter original term to maturity. 

(v) If fewer than five but more than two such primary dealers are quoting as described in clause (iv) above, then the
CMT rate for such CMT Interest Determination Date will be based on the arithmetic mean of the offered rates so obtained, and neither the highest nor the lowest of such quotations will be disregarded. 

(vi) If two or fewer primary dealers selected by the Calculation Agent are quoting as described in clause (v) above,
the CMT rate shall be the CMT rate in effect on such CMT Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 
  

 14 

 (e) Determination of Commercial Paper Rate. If the Base Rate specified for
such Supplemental Obligation is the commercial paper rate, the Base Rate that takes effect on any Interest Reset Date shall equal the Money Market Yield (as defined in Section 3A(n) below) of the rate, for the second Business Day immediately
preceding such Interest Reset Date (the “Commercial Paper Interest Determination Date”), for commercial paper having the Index Maturity specified in the applicable Pricing Supplement, as published in H.15(519) opposite the heading
“Commercial Paper — Nonfinancial”. If the commercial paper rate cannot be determined as described above, the following procedures will apply in determining the commercial paper rate: 

(i) If the rate described above does not appear in H.15(519) at 3:00 P.M., New York City time, on the Calculation Date
corresponding to such Commercial Paper Interest Determination Date (unless the calculation is made earlier and the rate is available from that source at that time), then the commercial paper rate will be the rate, for such Commercial Paper Interest
Determination Date, for commercial paper having the Index Maturity for such Supplemental Obligation, as published in H.15 Daily Update (as defined in Section 3A(n) below) or any other recognized electronic source used for displaying that rate,
opposite the heading “Commercial Paper — Nonfinancial”. 
 (ii) If the rate described in clause
(i) above does not appear in H.15(519), H.15 Daily Update or another recognized electronic source at 3:00 P.M., New York City time, on such Calculation Date (unless the calculation is made earlier and the rate is available from one of those
sources at that time), the commercial paper rate will be the Money Market Yield of the arithmetic mean of the following offered rates for U.S. dollar commercial paper that has the Index Maturity and is placed for an industrial issuer whose long-term
bond rating is “AA”, or the equivalent, from a nationally recognized rating agency: the rates offered as of 11:00 A.M., New York City time, on such Commercial Paper Interest Determination Date by three leading U.S. dollar commercial paper
dealers in New York City selected by the Calculation Agent. 
 (iii) If fewer than three dealers selected by the
Calculation Agent are quoting as described in clause (ii) above, the commercial paper rate shall be the commercial paper rate in effect on such Commercial Paper Interest Determination Date (or, in the case of the first Interest Reset Date, the
Initial Base Rate). 
 (f) Determination of EURIBOR. If the Base Rate specified for such Supplemental Obligation
is EURIBOR, the Base Rate that takes effect on any Interest Reset Date shall equal the interest rate for deposits in euros designated as “EURIBOR” and sponsored jointly by the European Banking Federation and ACI — The Financial
Markets Association (or any company established by the joint sponsors for purposes of compiling and publishing that rate) on the second Euro Business Day (as defined in Section 3C(b) below) before such Interest Reset Date (a “EURIBOR
Interest Determination Date”), and will be determined in accordance with the following provisions: 
 (i)
EURIBOR will be the offered rate for deposits in euros having the Index Maturity beginning on such Interest Reset Date, as that rate appears on the Reuters Screen EURIBOR01 Page as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination
Date. 
 (ii) If the rate described in clause (i) above does not so appear on the Reuters Screen EURIBOR01
Page, EURIBOR will be determined on the basis of the rates, at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date, at which deposits of the following kind are offered to prime banks in the Euro-Zone (as defined in
Section 3C(b) below) interbank market by the principal Euro-Zone office of each of four major banks in that market selected by the Calculation Agent: euro deposits having the specified Index Maturity beginning on such Interest Reset Date and in
a Representative Amount. The Calculation Agent will request the principal Euro-Zone office of each of these banks to provide a quotation of its rate. If at least two quotations are provided, EURIBOR for such EURIBOR Interest Determination Date will
be the arithmetic mean of such quotations. 
 (iii) If fewer than two quotations are provided as described in
clause (ii) above, EURIBOR for such EURIBOR Interest Determination Date will be the arithmetic mean of the rates for loans of the following kind to leading Euro-Zone banks quoted, at approximately 11:00 A.M., Brussels time, on such EURIBOR

  

 15 

 
Interest Determination Date, by three major banks in the Euro-Zone selected by the Calculation Agent: loans of euros having the specified Index Maturity beginning on such Interest Reset Date and
in a Representative Amount. 
 (iv) If fewer than three banks selected by the Calculation Agent are quoting as
described in clause (iii) above, EURIBOR shall be the EURIBOR in effect on such EURIBOR Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 

(g) Determination of Federal Funds Rate. If the Base Rate specified for such Supplemental Obligation is the Federal Funds
(Effective) Rate, the Base Rate that takes effect on any Interest Reset Date shall equal the rate, on the second Business Day immediately preceding such Interest Reset Date (the “Federal Funds Interest Determination Date”), as published in
H.15(519) opposite the heading “Federal funds (effective)”, as that rate is displayed on the Reuters Screen FEDFUNDS1 Page under the heading “EFFECT”. If the Federal Funds (Effective) Rate cannot be determined as described above,
the following procedures will apply in determining the Federal Funds (Effective) Rate: 
 (i) If the rate
described above is not displayed on the Reuters Screen FEDFUNDS1 Page at 3:00 P.M., New York City time, on the Calculation Date corresponding to such Federal Funds Interest Determination Date (unless the calculation is made earlier and the rate is
available from that source at that time), then the Federal Funds (Effective) Rate will be the rate described above as published in H.15 Daily Update, or another recognized electronic source used for displaying that rate, opposite the heading
“Federal funds (effective)”. 
 (ii) If the rate described in clause (i) above is not displayed on
the Reuters Screen FEDFUNDS1 Page and does not appear in H.15 (519), H.15 Daily Update or another recognized electronic source at 3:00 P.M., New York City time, on such Calculation Date (unless the calculation is made earlier and the rate is
available from one of those sources at that time), the Federal Funds (Effective) Rate will be the arithmetic mean of the rates for the last transaction in overnight, U.S. dollar federal funds arranged, before 9:00 A.M., New York City time, on such
Federal Funds Interest Determination Date, by three leading brokers of U.S. dollar federal funds transactions in New York City selected by the Calculation Agent. 

(iii) If fewer than three brokers selected by the Calculation Agent are quoting as described in clause (ii) above,
the Federal Funds (Effective) Rate will be the Federal Funds (Effective) Rate in effect on such Federal Funds Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 

If the Base Rate specified for such Supplemental Obligation is the Federal Funds Open Rate, the Base Rate that takes effect on any
Interest Reset Date shall equal the rate, on the Federal Funds Interest Determination Date, as published in H.15(519) under the heading “Federal funds” and opposite the caption “Open”, as that rate is displayed on the Reuters
Screen Page 5. If the Federal Funds Open Rate cannot be determined as described above, the following procedures will apply in determining the Federal Funds Open Rate: 

(i) If the rate described above is not displayed on the Reuters Screen Page 5 at 5:00 P.M., New York City time, on such
Federal Funds Interest Determination Date (unless the calculation is made earlier and the rate is available from that source at that time), then the Federal Funds Open Rate will be the rate for such day displayed on the FFPREBON Index page on
Bloomberg (which is the Fed Funds Opening Rate as reported by Prebon Yamane (or a successor) on Bloomberg). 

(ii) If the rate described in clause (i) above is not displayed on the Reuters Screen Page 5 and does not appear on
the FFPREBON Index on Bloomberg at 5:00 P.M., New York City time, on such Federal Funds Interest Determination Date (unless the calculation is made earlier and the rate is available from one of those sources at that time), the Federal Funds Open
Rate will be the arithmetic mean of the rates for the last transaction in overnight, U.S. dollar federal funds arranged, before 9:00 A.M., New York City time, on such Federal Funds Interest Determination Date, quoted by three leading brokers of U.S.
dollar federal funds transactions in New York City selected by the Calculation Agent. 
  

 16 

 (iii) If fewer than three brokers selected by the Calculation Agent are
quoting as described in clause (ii) above, the Federal Funds Open Rate will be the Federal Funds Open Rate in effect on such Federal Funds Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate).

 (h) Determination of LIBOR. If the Base Rate specified for such Supplemental Obligation is LIBOR, the Base Rate
that takes effect on any Interest Reset Date shall be LIBOR on the corresponding LIBOR Interest Determination Date (as defined in Section 3A(n) below). LIBOR will be the offered rate appearing on the Reuters Screen LIBOR Page (as defined in
Section 3A(n) below) as of 11:00 A.M., London time, on such LIBOR Interest Determination Date for deposits of the Index Currency having the Index Maturity beginning on such Interest Reset Date: 

(i) If LIBOR does not so appear on the Reuters Screen LIBOR Page, then LIBOR will be determined on the basis of the rates,
at approximately 11:00 A.M., London time, on such LIBOR Interest Determination Date, at which deposits of the following kind are offered to prime banks in the London interbank market by four major banks in that market selected by the Calculation
Agent: deposits of the Index Currency having the specified Index Maturity beginning on the relevant Interest Reset Date and in a Representative Amount (as defined in Section 3A(n) below). The Calculation Agent will request the principal London
office of each such bank to provide a quotation of its rate. If at least two quotations are provided, LIBOR for such LIBOR Interest Determination Date will be the arithmetic mean of the quotations. 

(ii) If fewer than two quotations are provided as described in clause (i) above, LIBOR for such LIBOR Interest
Determination Date will be the arithmetic mean of the rates for loans of the following kind to leading European banks quoted, at approximately 11:00 A.M. in the principal financial center for the country issuing the Index Currency, on such LIBOR
Interest Determination Date, by three major banks in that principal financial center selected by the Calculation Agent: loans of the Index Currency having the specified Index Maturity beginning on such Interest Reset Date and in a Representative
Amount. 
 (iii) If fewer than three banks selected by the Calculation Agent are quoting as described in clause
(ii) above, LIBOR will be the LIBOR in effect on such LIBOR Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 

(i) Determination of Prime Rate. If the Base Rate specified for such Supplemental Obligation is the prime rate, the Base
Rate that takes effect on any Interest Reset Date shall equal the rate, for the second Business Day immediately preceding such Interest Reset Date (the “Prime Interest Determination Date”), published in H.15(519) opposite the heading
“Bank prime loan”. If the prime rate cannot be determined as described above, the following procedures will apply in determining the prime rate: 

(i) If the rate described above does not appear in H.15(519) at 3:00 P.M., New York City time, on the Calculation Date
corresponding to such Prime Interest Determination Date (unless the calculation is made earlier and the rate is available from that source at that time), then the prime rate will be the rate, for such Prime Interest Determination Date, as published
in H.15 Daily Update or another recognized electronic source used for the purpose of displaying that rate, opposite the heading “Bank prime loan”. 

(ii) If the rate described in clause (i) above does not appear in H.15(519), H.15 Daily Update or another recognized
electronic source at 3:00 P.M., New York City time, on such Calculation Date (unless the calculation is made earlier and the rate is available from one of those sources at that time), then the prime rate will be the arithmetic mean of the following
rates as they appear on the Reuters Screen USPRIME1 Page (as defined in Section 3A(n) below): the rate of interest publicly announced by each bank appearing on that page as that bank’s prime rate or base lending rate, as of 11:00 A.M., New
York City time, on such Prime Interest Determination Date. 
 (iii) If fewer than four of the rates referred to
in clause (ii) above appear on the Reuters Screen USPRIME1 Page, the prime rate will be the arithmetic mean of the prime rates or base lending rates, as of the close of business on such Prime Interest Determination Date, of three major banks in
New York City selected by the Calculation Agent. For this purpose, the Calculation Agent will use rates quoted on the basis of the actual number of days in the year divided by a 360-day year. 

 

 17 

 (iv) If fewer than three banks selected by the Calculation Agent are quoting
as described in clause (iii) above, the prime rate shall be the prime rate in effect on such Prime Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 

(j) Determination of Treasury Rate. If the Base Rate specified for such Supplemental Obligation is the treasury rate, the
Base Rate that takes effect on any Interest Reset Date shall equal the rate for the auction on the corresponding Treasury Interest Determination Date (as defined in Section 3A(n) below) of direct obligations of the United States (“Treasury
Bills”) having the Index Maturity specified for such Supplemental Obligation, as that rate appears on the Reuters Screen USAUCTION10 Page or the Reuters Screen USAUCTION11 Page under the heading “INVEST RATE”. If the treasury rate
cannot be determined as described above, the following procedures will apply in determining the treasury rate: 

(i) If the rate described above does not appear on either the Reuters Screen USAUCTION10 or USAUCTION11 Page at 3:00 P.M.,
New York City time, on the Calculation Date corresponding to such Treasury Interest Determination Date (unless the calculation is made earlier and the rate is available from that source at that time), the treasury rate will be the Bond Equivalent
Yield (as defined in Section 3A(n) below) of the rate, for such Treasury Interest Determination Date and for Treasury Bills having the Index Maturity, specified for such Supplemental Obligation, as announced by the U.S. Department of the
Treasury. 
 (ii) If the auction rate described in clause (i) above is not so announced by 3:00 P.M., New
York City time, on such Calculation Date, or if no such auction is held for the relevant week, then the treasury rate will be the Bond Equivalent Yield of the rate, for such Treasury Interest Determination Date and for Treasury Bills having the
Index Maturity specified for such Supplemental Obligation, as published in H.15(519) under the heading “U.S. government securities/Treasury bills (secondary market)”. 

(iii) If the rate described in clause (ii) above does not appear in H.15(519) at 3:00 P.M., New York City time, on
such Calculation Date (unless the calculation is made earlier and the rate is available from one of those sources at that time), then the treasury rate will be the rate, for such Treasury Interest Determination Date and for Treasury Bills having the
Index Maturity specified for such Supplemental Obligation, as published in H.15 Daily Update, or another recognized electronic source used for displaying that rate, under the heading “U.S. government securities/ Treasury bills (secondary
market)”. 
 (iv) If the rate described in clause (iii) above does not appear in H.15 Daily Update or
another recognized electronic source at 3:00 P.M., New York City time, on such Calculation Date (unless the calculation is made earlier and the rate is available from one of those sources at that time), the treasury rate will be the Bond Equivalent
Yield of the arithmetic mean of the following secondary market bid rates for the issue of Treasury Bills with a remaining maturity closest to the Index Maturity specified for such Supplemental Obligation: the rates bid as of approximately 3:30 P.M.,
New York City time, on such Treasury Interest Determination Date, by three primary U.S. government securities dealers in New York City selected by the Calculation Agent. 

(v) If fewer than three dealers selected by the Calculation Agent are quoting as described in clause (iv) above, the
treasury rate shall be the treasury rate in effect on such Treasury Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 

(k) Determination of 11th District Rate. If the Base Rate specified for such Supplemental Obligation is the 11th district
rate (which term refers to the Eleventh District Cost of Funds Rate), the Base Rate that takes effect on any Interest Reset Date shall equal the 11th district rate on the 11th District Interest Determination Date (as defined in Section 3A(n)
below) corresponding to such Interest Reset Date. The 11th district rate on any 11th District Interest Determination Date shall be the rate equal to the monthly weighted average cost of funds for the calendar month immediately before such date, as
displayed on the Reuters Screen COFI/ARMS Page opposite the heading “11TH Dist COFI:” as of 11:00 A.M., San Francisco time, on such date. If the 11th district rate cannot be determined as described above, the following procedures will
apply in determining the 11th district rate: 
 (i) If the rate described above does not appear on the Reuters
Screen COFI/ARMS Page on such 11th District Interest Determination Date, then the 11th district rate on such date will be the monthly weighted 

 

 18 

 
average cost of funds paid by institutions that are members of the Eleventh Federal Home Loan Bank District for the calendar month immediately preceding such date, as most recently announced by
the Federal Home Loan Bank of San Francisco as such monthly weighted average cost of funds. 
 (ii) If the
Federal Home Loan Bank of San Francisco fails to announce the cost of funds described in clause (i) above on or before such 11th District Interest Determination Date, the 11th district rate that takes effect on such Interest Reset Date will be
the 11th district rate in effect on such 11th District Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate). 

Any of the interest rates determined in accordance with Sections 3A(b) — (k) will be adjusted by the addition or subtraction of
the Spread, if any, specified for such Supplemental Obligation or by multiplying such Base Rate by the Spread Multiplier, if any, specified for such Supplemental Obligation. 

(l) Minimum and Maximum Limits. Notwithstanding the foregoing, the rate at which interest accrues on such
Supplemental Obligation (i) shall not at any time be higher than the maximum rate, if any, or less than the minimum rate, if any, specified in the applicable Pricing Supplement, in each case on an accrual basis, and (ii) shall not at any
time be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. 

(m) Calculation of Interest. Payments of interest on such Supplemental Obligation with respect to any Interest
Payment Date or at the Maturity of the principal thereof will include interest accrued to but excluding such Interest Payment Date or the date of such Maturity, as the case may be. Accrued interest from the date of issue or from the last date to
which interest has been paid or made available for payment shall be calculated by the Calculation Agent by multiplying the principal amount of such Supplemental Obligation by an accrued interest factor for the Interest Period specified in the
applicable Pricing Supplement. Such accrued interest factor shall be expressed as a decimal and computed by multiplying the interest rate (also expressed as a decimal) in effect on the applicable period by the Day Count Convention specified in the
applicable Pricing Supplement for such Interest Period. 
 All percentages resulting from any calculation with respect to such
Supplemental Obligation will be rounded upward or downward, as appropriate, to the next higher or lower one hundred-thousandth of a percentage point (e.g., 9.876541% (or .09876541) being rounded down to 9.87654% (or .0987654) and 9.876545% (or
..09876545) being rounded up to 9.87655% (or .0987655) ). All amounts used in or resulting from any calculation with respect to such Supplemental Obligation will be rounded upward or downward, as appropriate, to the nearest cent, in the case of U.S.
dollars, or to the nearest corresponding hundredth of a unit, in the case of a currency other than U.S. dollars, with one-half cent or one-half of a corresponding hundredth of a unit or more being rounded upward. 

(n) Definitions of Calculation Terms. As used with respect to such Supplemental Obligation, the
following terms have the meanings set forth below: 
 “Bond Equivalent Yield” means a yield expressed as a
percentage and calculated in accordance with the following formula: 
  

																
	 Bond Equivalent Yield
	 	=	 		 	D × N	 	×	 	 	100,	  		  	
	 	 	 	360 – (D × M)	 	 	  		  	

 where 
  

	 	•	 	 “D” equals the annual rate for Treasury Bills quoted on a bank discount basis and expressed as a decimal; 

 

	 	•	 	 “N” equals 365 or 366, as the case may be; and 

 

	 	•	 	 “M” equals the actual number of days in the applicable Interest Reset Period. 

 

 19 

 The “Calculation Date” corresponding to any Commercial Paper Interest
Determination Date, Prime Interest Determination Date, LIBOR Interest Determination Date, EURIBOR Interest Determination Date, Treasury Interest Determination Date, CMT Interest Determination Date, CD Interest Determination Date, CMS Interest
Determination Date, Federal Funds Interest Determination Date or 11th District Interest Determination Date, as the case may be, means the earlier of: 

(i) the tenth day after such Interest Determination Date or, if any such day is not a Business Day, the next succeeding
Business Day; and 
 (ii) the Business Day immediately preceding the Interest Payment Date or the date of
Maturity of the principal of such Supplemental Obligation, whichever is the day on which the next payment of interest will be due. 

The Calculation Date corresponding to any Interest Reset Date means the Calculation Date corresponding to the relevant interest
determination date immediately preceding such Interest Reset Date. 
 “Designated CMT Index Maturity” means, if the
Base Rate is the CMT Rate, the Index Maturity for such Supplemental Obligation and will be the original period to maturity of a U.S. Treasury security — either 1, 2, 3, 5, 7, 10, 20 or 30 years — specified on the face hereof, provided
that, if no such original maturity period is so specified, the Designated CMT Index Maturity will be 2 years. 

“Designated CMT Reuters Screen Page” means, if the Base Rate is the CMT Rate, the Reuters Screen Page specified in the
applicable Pricing Supplement that displays Treasury constant maturities as reported in H.15(519), provided that, if no Reuters Screen Page is so specified, then the applicable page will be the Reuters Screen FEDCMT Page and provided, further, that
if the Reuters Screen FEDCMT Page applies but it is not specified in the applicable Pricing Supplement whether the weekly or monthly average applies, the weekly average will apply. 

“H.15(519)” means the weekly statistical release designated as such published by the Federal Reserve System Board of Governors,
or its successor, available through the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov/releases/h15/update/h15upd.htm, or any successor site or publication. 

“H.15 Daily Update” means the daily update of H.15(519), available through the website of the Board of Governors of the Federal
Reserve System, at http://www.federalreserve.gov/releases/h15/update/h15upd.htm, or any successor site or publication. 

“Interest Period” means the period from and including an Interest Payment Date (or, with respect to the initial Interest
Period, the Original Issue Date) to but excluding the next succeeding Interest Payment Date. 
 The “LIBOR Interest
Determination Date” corresponding to any Interest Reset Date means the second London Business Day preceding such Interest Reset Date, unless the Index Currency is pounds sterling, in which case the LIBOR Interest Determination Date will be the
Interest Reset Date. 
 “Money Market Yield” means a yield expressed as a percentage and calculated in accordance with
the following formula: 
  

														
	 Money Market Yield
	 	=	 		 	D × 360	 	×	 	 	100,	  	
	 	 	 	360 – (D × M)	 	 	  	

 where 
  

	 	•	 	 “D” equals the per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal; and

  

	 	•	 	 “M” equals the actual number of days in the applicable Interest Reset Period. 

 

 20 

 “Representative Amount” means an amount that, in the Calculation Agent’s
judgment, is representative of a single transaction in the relevant market at the relevant time. 
 “Reuters Screen”
means the display on the Reuters 3000 Xtra service or any successor or replacement service, on the page or pages, or any successor or replacement page or pages on that service. 

“Reuters Screen LIBOR Page” means the display on the Reuters Screen LIBOR01 Page or Reuters Screen LIBOR02 Page, as specified
in the applicable Pricing Supplement, or any successor or replacement service, on which London interbank rates of major banks for the Index Currency are displayed. 

“Reuters Screen USPRIME1 Page” means the display on the Reuters Screen page titled “USPRIME1”, for the purpose of
displaying prime rates or base lending rates of major U.S. banks. 
 “Spread” means the number of basis points (each
being one one-hundredth of a percentage point) specified in the applicable Pricing Supplement to be added to or subtracted from the Base Rate for a Floating Rate Note to determine the applicable interest rate. 

“Spread Multiplier” is the percentage specified in the applicable Pricing Supplement by which the Base Rate for a Floating Rate
Note will be multiplied to determine the applicable interest rate. 
 The “Treasury Interest Determination Date”
corresponding to any Interest Reset Date means the day of the week in which such Interest Reset Date falls on which Treasury bills would normally be auctioned. If, as the result of a legal holiday, an auction is so held on the Friday in the week
immediately preceding the week in which such Interest Reset Day falls, such Friday will be the corresponding Treasury Interest Determination Date. If an auction date shall fall on a day that would otherwise be an Interest Reset Date, then such
Interest Reset Date shall instead be the first Business Day immediately following such auction date. 
 “Treasury
Notes” means direct, noncallable, fixed rate obligations of the U.S. government. 
 The “11th District Interest
Determination Date” corresponding to a particular Interest Reset Date will be the last working day, in the first calendar month immediately preceding such Interest Reset Date, on which the Federal Home Loan Bank of San Francisco publishes the
monthly average cost of funds paid by member institutions of the Eleventh Federal Home Loan Bank District for the second calendar month immediately preceding such Interest Reset Date. 

References in this Security to a particular heading or headings on any of Designated CMT Reuters Screen Page, H.15(519), H.15 Daily
Update, Reuters Screen LIBOR Page, Reuters Screen USPRIME 1 Page, Reuters Screen USAUCTION10 Page, Reuters Screen USAUCTION11 Page, Reuters Screen ISDAFIX2 Page, Reuters Screen COFI/ARMS Page, Reuters Screen Page 5 or Reuters Screen include any
successor or replacement heading or headings as determined by the Calculation Agent. 
 3B. Interest Rate on Indexed Notes

 In the case of any Supplemental Obligation that is an Indexed Note, the manner of calculating interest payable thereon
shall be determined as provided in the applicable Pricing Supplement. 
 3C. Payments-Other Terms 

The provisions of this Section 3C apply to all Supplemental Obligations. 

(a) Calculation Agent and Exchange Rate Agent. With respect to any Supplemental Obligation, the “Calculation
Agent” or the “Exchange Rate Agent” shall initially mean the Person (if any) named as such agent 
  

 21 

 
in the applicable Pricing Supplement, provided that the Company may, in its sole discretion, appoint any other institution (including any Affiliate of the Company) to serve as any such agent for
such Supplemental Obligation from time to time. The Company will give the Trustee prompt written notice of any change in any such appointment. Insofar as this Security or the applicable Pricing Supplement provides for any such agent to obtain rates,
quotes or other data from a bank, dealer or other institution for use in making any determination hereunder, such agent may do so from any institution or institutions of the kind contemplated hereby notwithstanding that any one or more of such
institutions are any such agent, Affiliates of any such agent or Affiliates of the Company. 
 All determinations made by the
Calculation Agent or the Exchange Rate Agent with regard to a Supplemental Obligation may be made by such agent in its sole discretion and, absent manifest error, shall be conclusive for all purposes and binding on the Holder of this Security and
the Company. Neither the Calculation Agent nor the Exchange Rate Agent shall have any liability therefor. 
 (b) Other
Definitions. “Business Day” means, for any Supplemental Obligation, a day that meets the requirements set forth in each of clauses (i) through (v) below, in each case to the extent such requirements apply to such
Supplemental Obligation as specified below: 
 (i) is a New York Business Day; 

(ii) if the Base Rate is LIBOR, is also a London Business Day; 

(iii) if the Specified Currency for payment of principal of or interest on such Supplemental Obligation is other than U.S.
dollars or euros, is also a day on which banking institutions are not authorized or obligated by law, regulation or executive order to close in the principal financial center of the country issuing the Specified Currency; 

(iv) if the Base Rate is EURIBOR or if the Specified Currency for payment of principal of or interest on such Supplemental
Obligation is euros, or the Base Rate is LIBOR for which the Index Currency is euros, is also a Euro Business Day; and 

(v) solely with respect to any payment or other action to be made or taken at any Place of Payment outside The City of New
York, is a Monday, Tuesday, Wednesday, Thursday or Friday that is not a day on which banking institutions in such Place of Payment generally are authorized or obligated by law, regulation or executive order to close. 

Solely when used in the third paragraph under the heading “Currency of Payment” on the face of the relevant Supplemental
Obligation, the meaning of the term “Business Day” shall be determined as if the Base Rate for such Supplemental Obligation is neither LIBOR nor EURIBOR. 

“Day Count Convention” means: 

(i) if “1/1 (ISDA)”, 1; 

(ii) if “Actual/Actual (ISDA)” or “Act/Act (ISDA)”, the number of days in the Interest Period divided
by 365 (or, if any portion of that Interest Period falls in a leap year, the sum of (1) the number of days in that portion of the Interest Period falling in a leap year divided by 366 and (2) the number of days in that portion of the
Interest Period falling in a non-leap year divided by 365); 
 (iii) if “Actual/Actual (ICMA)”, the
number of days in the Interest Period, including February 29 in a leap year, divided by the product of (1) the actual number of days in such Interest Period and (2) the number of Interest Periods in the calendar year; 

(iv) if “Actual/Actual (Bond)”, the number of calendar days in the Interest Period, divided by the number of
calendar days in the Interest Period multiplied by the number of Interest Periods in the calendar year; 
  

 22 

 (v) if “Actual/Actual (Euro)”, the number of calendar days in the
Interest Period divided by 365 or, if the Interest Period includes February 29, 366; 
 (vi) if
“Actual/365 (Fixed)”, “Act/365 (Fixed)”, “A/365 (Fixed)” or “A365F”, the actual number of days in the Interest Period divided by 365; 

(vii) if “Actual/360 (ISDA)”, “Act/360 (ISDA)” or “A/360 (ISDA)”, the number of days in the
Interest Period divided by 360; 
 (viii) if “Actual/360 (ICMA)”, the number of calendar days in the
period, including February 29 in a leap year, divided by 360 days; 
 (ix) if “30/360 (ISDA)”,
“360/360 (ISDA)” or “Bond Basis (ISDA)”, the number of days in the Interest Period in respect of which payment is being made divided by 360, calculated on a formula basis as follows: 

 

									
	 Day Count Fraction
	 	=	 		 	[360 × 
(Y2-Y
1)] + [30 × 
(M2-M
1)] + 
(D2-D
1)	  	
	 	 	 	360	  	

 where 

 

	 	•	 	 “Y1” is the year, expressed as a number, in which the first day of the Interest Period falls; 

 

	 	•	 	 “Y2” is the year, expressed as a number, in which the day immediately following the last day included in the Interest Period falls;

  

	 	•	 	 “M1” is the calendar month, expressed as a number, in which the first day of the Interest Period falls; 

 

	 	•	 	 “M2” is the calendar month, expressed as a number, in which the day immediately following the last day included in the Interest Period falls;

  

	 	•	 	 “D1” is the first calendar day, expressed as a number, of the Interest Period, unless such number would be 31, in which case D1 will be 30;
and 

  

	 	•	 	 “D2” is the calendar day, expressed as a number, immediately following the last day included in the Interest Period, unless such number would
be 31 and D1 is greater than 29, in which case D2 will be 30; and 

 (x) if
“30E/360”, “30E/360 (ISDA)” or “Eurobond Basis”, the number of days in the Interest Period in respect of which payment is being made divided by 360, calculated on a formula basis as follows: 

 

									
	 Day Count Fraction
	 	=	 		 	[360 × 
(Y2-Y
1)] + [30 × 
(M2-M
1)] + 
(D2-D
1)	  	
	 	 	 	360	  	

 where 

 

	 	•	 	 “Y1” is the year, expressed as a number, in which the first day of the Interest Period falls; 

 

	 	•	 	 “Y2” is the year, expressed as a number, in which the day immediately following the last day included in the Interest Period falls;

  

	 	•	 	 “M1” is the calendar month, expressed as a number, in which the first day of the Interest Period falls; 

 

	 	•	 	 “M2” is the calendar month, expressed as a number, in which the day immediately following the last day included in the Interest Period falls;

  

	 	•	 	 “D1” is the first calendar day, expressed as a number, of the Interest Period, unless such number would be 31, in which case D1 will be 30;
and 

  

 23 

	 	•	 	 “D2” is the calendar day, expressed as a number, immediately following the last day included in the Interest Period, unless (1) such
number would be 31, and (2), if “30E/360 (ISDA)” is specified, that day is also the last day of February, in which case D2 will be 30. 

“EMU Countries” means, at any time, the countries (if any) then participating in the European Economic and Monetary Union (or
any successor union) pursuant to the Treaty on European Union of February 1992 (or any successor treaty), as it may be amended from time to time. 

“Euro Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday on which the Trans-European Automated Real-Time
Gross Settlement Express Transfer (TARGET) System, or any successor system, is open for business. 
 “Euro-Zone”
means, at any time, the region comprised of the EMU Countries. 
 “Index Currency” means, with respect to a
Supplemental Obligation that has a LIBOR base rate, the currency specified as such in the applicable pricing supplement. 

“Index Maturity” means, with respect to a Supplemental Obligation, the period to maturity of the instrument or obligation on
which the interest rate formula is based, as specified in the applicable Pricing Supplement. 
 “London Business Day”
means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in London generally are authorized or obligated by law, regulation or executive order to close and, if the Base Rate for such Supplemental
Obligation is LIBOR, is also a day on which dealings in the Index Currency are transacted in the London interbank market. 

“New York Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking
institutions in New York City generally are authorized or obligated by law, regulation or executive order to close. 

References in this Security to U.S. dollars shall mean, as of any time, the coin or currency that is then legal tender for the payment of
public and private debts in the United States of America. 
 References in this Security to the euro shall mean, as of any time,
the coin or currency (if any) that is then legal tender for the payment of public and private debts in all EMU Countries. 

With respect to any Supplemental Obligation, references in this Security to a particular currency other than U.S. dollars and euros shall
mean, as of any time, the coin or currency that is then legal tender for the payment of public and private debts in the country issuing such currency on the Original Issue Date for such Supplemental Obligation. 

4. Redemption at the Company’s Option 

Unless a redemption commencement date is specified in the applicable Pricing Supplement, a Supplemental Obligation shall not be redeemable
at the option of the Company before the Stated Maturity of the principal thereof. If a redemption commencement date is so specified, and unless otherwise specified in the applicable Pricing Supplement, such Supplemental Obligation is subject to
redemption upon not less than 30 days’ nor more than 60 days’ notice at any time and from time to time on or after the redemption commencement date, as a whole or in part, at the election of the Company and at the redemption price
specified in the applicable Pricing Supplement (expressed as a percentage of the principal amount of such Supplemental Obligation to be redeemed), together with accrued interest to the Redemption Date, but interest installments due on or prior to
such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant record dates referred to on the face hereof, all as provided in the Indenture. 

 

 24 

 5. Repayment at the Holder’s Option 

Except as otherwise may be provided in the applicable Pricing Supplement, if one or more repayment dates are specified in the applicable
Pricing Supplement, the principal of a Supplemental Obligation will be repayable in whole or in part in an amount equal to any Authorized Denomination (provided that the remaining principal amount of any Supplemental Obligation surrendered for
partial repayment shall at least equal an Authorized Denomination), on any such repayment date, in each case at the option of the Holder and at the applicable repayment price specified in the applicable Pricing Supplement (expressed as a percentage
of the principal amount to be repaid), together with accrued interest to the applicable repayment date (but interest installments due on or prior to such repayment date will be payable to the Holder of this Security, or one or more Predecessor
Securities, of record at the close of business on the relevant Regular Record Date as provided in the Indenture). With respect to any Supplemental Obligation, if the applicable Pricing Supplement provides for more than one repayment date and the
Holder exercises its option to elect repayment, the Holder shall be deemed to have elected repayment on the earliest repayment date after all conditions to such exercise have been satisfied, and references herein to the applicable repayment date
shall mean such earliest repayment date. 
 In order for the exercise of such option to be effective and the principal amount of
a Supplemental Obligation to be repaid, the Company must receive at the applicable address of the Trustee set forth below (or at such other place or places of which the Company shall from time to time notify the Holder of this Security), on any
Business Day not later than the 15th, and not earlier than the 25th, calendar day prior to the applicable repayment date (or, if either such calendar day is not a Business Day, the next succeeding Business Day), either (i) the form below
entitled “Option to Elect Repayment” duly completed and signed, or (ii) a facsimile transmission or letter from a member of a national securities exchange or the Financial Industry Regulatory Authority, Inc., a commercial bank or a
trust company in the United States of America setting forth (a) the name, address and telephone number of the Holder of this Security, (b) the principal amount of such Supplemental Obligation and the portion thereof to be repaid,
(c) a statement that the option to elect repayment is being exercised thereby and (d) a guarantee stating that the Company will receive the form below entitled “Option to Elect Repayment” duly completed and signed, not later than
five Business Days after the date of such facsimile transmission or letter (provided that such form duly completed and signed is received by the Company by such fifth Business Day). Any such election shall be irrevocable. The address to which such
deliveries are to be made is Deutsche Bank Trust Company Americas, Trust & Securities Services, 100 Plaza One, 6th Floor — MS JCY03-0699, Jersey City, New Jersey 07311-3901; Fax: 732-578-4635, Attention: Manager Corporate Team —
Nomura Holdings, Inc. (or at such other places as the Company or the Trustee shall notify the Holder of this Security). All questions as to the validity, eligibility (including time of receipt) and acceptance of any Supplemental Obligation for
repayment will be determined by the Company, whose determination will be final and binding. Notwithstanding the foregoing, the option of the Holder to elect repayment may be exercised in accordance with the Applicable Procedures of the Depositary
for this Security at least 15 calendar days prior to the applicable repayment date and the option of the Holder to elect repayment may be exercised in any such manner as the Company may approve. 

6. Transfer and Exchange 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of Authorized Denominations, and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series and of like tenor, of a different Authorized Denomination, as requested by the Holder surrendering the same. 

 

 25 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 This Security is a Global Security and is subject to the provisions of the Indenture relating to Global Securities,
including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. 
 This Security is a
Master Note and may be exchanged at any time, solely upon the request of the Company to the Trustee, for one or more Global Securities in the same aggregate principal amount, each of which may or may not be a Master Note, as requested by the
Company. Each such replacement Global Security that is a Master Note shall reflect such of the Supplemental Obligations as the Company shall request. Each such replacement Global Security that is not a Master Note shall represent one (and only one)
Supplemental Obligation as requested by the Company, and such Global Security shall be appropriately modified so as to reflect the terms of such Supplemental Obligation. 

7. Defeasance 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants
and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. If so specified in the applicable Pricing Supplement, either or both of such provisions are applicable to a
Supplemental Obligation, as so specified. 
 8. Remedies 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this
series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 As provided in and
subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time
Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the
Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and
offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

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

 

 26 

 9. Modification and Waiver 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the time Outstanding of all series to be affected (considered together as one class for this purpose). The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount of the Securities at the
time Outstanding of all series to be affected under the Indenture (considered together as one class for this purpose), on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and (ii) permitting the Holders of a majority in principal amount of the Securities at the time Outstanding of any series to be affected under the Indenture (with each such series considered separately for this purpose), on behalf of
the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

10. Governing Law 

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

  

 27 

			
	 MASTER NOTE CUSIP NO.
	 	  

		
	 SUPPLEMENTAL OBLIGATION:
	 	  

		
	 Pricing Supplement No. and Date:
	 	  

		
	 Original Issue Date:
	 	  

NOMURA HOLDINGS, INC. 

MEDIUM-TERM NOTE, SERIES A 

(Master Note) 

OPTION TO ELECT REPAYMENT 

TO BE COMPLETED ONLY IF THE SUPPLEMENTAL OBLIGATION 

REFERENCED IN THIS NOTICE 

IS REPAYABLE AT THE OPTION OF THE HOLDER AND 

THE HOLDER ELECTS TO EXERCISE SUCH RIGHT 

The undersigned hereby irrevocably requests and instructs the Company to repay the Supplemental Obligation referred to in this notice (or
the portion thereof specified below) at the applicable repayment price, together with interest to the repayment date, all as provided for in such Supplemental Obligation, to the undersigned, whose name, address and telephone number are as follows:

 (please print name of the undersigned) 

(please print address of the undersigned) 

(please print telephone number of the undersigned) 

If such Supplemental Obligation provides for more than one repayment date, the undersigned requests repayment on the earliest repayment
date after the requirements for exercising this option have been satisfied, and references in this notice to the repayment date mean such earliest repayment date. Terms used in this notice that are defined in the Security specified above are used
herein as defined therein. 
 For such Supplemental Obligation to be repaid the Company must receive at the applicable address
of the Trustee set forth below or at such other place or places of which the Company or the Trustee shall from time to time notify the Holder of such Security, any Business Day not later than the 15th or earlier than the 25th calendar day prior to
the repayment date (or, if either such calendar day is not a Business Day, the next succeeding Business Day), (i) this “Option to Elect Repayment” form duly completed and signed, or (ii) a facsimile transmission or letter from a
member of a national securities exchange or the Financial Industry Regulatory Authority, Inc., a commercial bank or a trust company in the United States of America setting forth (a) the name, address and telephone number of the Holder of such
Security, (b) the principal amount of such Supplemental Obligation and the amount of such Supplemental Obligation to be repaid, (c) a statement that the option to elect repayment is being exercised thereby and (d) a guarantee stating
that the form entitled “Option to Elect Repayment” on the addendum to such Security duly completed and signed will be received by the Company not later than five Business Days after the date of such facsimile transmission or letter
(provided that such form duly completed and signed is received by the Company by such fifth Business Day). The address to which such deliveries are to be made is: 

Deutsche Bank Trust Company Americas 

Trust & Securities Services 

100 Plaza One, 6th Floor — MS JCY03-0699 

Jersey City, New Jersey 07311-3901 

or at such other places as the Company or the Trustee shall notify the Holder of such Security. 

 

 28 

 If less than the entire principal amount of such Supplemental Obligation is to be repaid,
specify the portion thereof (which shall equal any Authorized Denomination) that the Holder elects to have repaid: 
  

			
	 Date:
                                         
   
	  	  

		  	Notice: The signature to this Option to Elect Repayment must correspond with the name of the Holder as written on the face of such Security in every particular without alteration
or enlargement or any other change whatsoever.

  

 29 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this Security, shall be construed as though they were written
out in full according to applicable laws or regulations. 
  

					
	 TEN COM
	 	 -
	  	as tenants in common
			
	 TEN ENT
	 	 -
	  	as tenants by the entireties
			
	 JT TEN
	 	 -
	  	as joint tenants with the right of survivorship and not as tenants in common

  

									
	 UNIF GIFT MIN ACT
	  	-	  	  
	  	Custodian	  	  

		  		  	(Cust)	  		  	(Minor)

 under Uniform Gifts
to Minors Act 
  
  

(State) 

Additional abbreviations may also be used 

though not in the above list. 
  

 
  

 30 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
                             

PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE 

(Please Print or Typewrite Name and Address 

Including Postal Zip Code of Assignee) 
  

	
	
                        
                                         
                                         
                                         
                                         
                             

	the attached Security and all rights thereunder, and hereby irrevocably constitutes and appoints 
_____________________________                                   

	                             
                                         
                                         
                                         
                                         
                        
	to transfer said Security on the books of the Company, with full power of substitution in the premises.

 

					
	Dated:                            
                               	 		 	

					
	Signature Guaranteed	  		  	
	  
	  		  	  

	NOTICE: Signature must be guaranteed.	  		  	NOTICE: The signature to this assignment must correspond with the name of the Holder as written upon the face of the attached Security in every particular, without alteration or
enlargement or any change whatever.

  

 31 

 SCHEDULE A 

 

													
	 Pricing
 Supplement

 No.
	  	Principal Amount of
Supplemental
Obligation	  	Original
Issue Date	  	Decrease
in 
Principal
Amount	  	Increase
in 
Principal
Amount	  	Effective Date of
Increase or
Decrease	  	Trustee
Notation

 

 32

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