Document:

Controlled Equity Offering Sales Agreement

 Exhibit 10.1 
 PACIFIC BIOSCIENCES OF CALIFORNIA, INC. 
 $30,000,000 of 

Shares of Common Stock 
 (par value $0.001 per share) 
 Controlled Equity OfferingSM 

Sales Agreement 
 October 5, 2012 
 Cantor Fitzgerald & Co. 

499 Park Avenue 
 New York, NY 10022 

Ladies and Gentlemen: 
 Pacific
Biosciences of California, Inc., a Delaware corporation (the “Company”), confirms its agreement (this “Agreement”) with Cantor Fitzgerald & Co. (the “Agent”), as
follows: 
 1. Issuance and Sale of Shares. The Company agrees that, from time to time during the term of this Agreement,
on the terms and subject to the conditions set forth herein, it may issue and sell through the Agent, up to $30,000,000 of shares (the “Maximum Amount”) of common stock (the “Placement Shares”) of the
Company, par value $0.001 per share (the “Common Stock”). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 1 on the amount
of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that Agent shall have no obligation in connection with such compliance. The issuance and sale of Placement Shares through Agent will be
effected pursuant to the Registration Statement (as defined below) filed by the Company and declared effective by the Securities and Exchange Commission (the “Commission”) on May 1, 2012, although nothing in this
Agreement shall be construed as requiring the Company to use the Registration Statement to issue Common Stock. 
 The Company
has filed, in accordance with the provisions of the Securities Act of 1933, as amended (the “Securities Act”) and the rules and regulations thereunder (the “Securities Act Regulations”), with the
Commission a registration statement on Form S-3 (File No. 333-180533), including a base prospectus, relating to certain securities, including the Placement Shares to be issued from time to time by the Company, and which incorporates by
reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder. The Company has
prepared a prospectus supplement specifically relating to the Placement Shares (the “Prospectus Supplement”) to the base prospectus included as part of such registration statement. The Company will furnish to the Agent, for
use by the Agent, as many copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Placement Shares as may be reasonably requested by the Agent. The Company may file one
or more additional registration statements from time 

 
to time that will contain a base prospectus and related prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares. Except where the
context otherwise requires, such registration statement(s), including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the
Commission pursuant to Rule 424(b) under the Securities Act Regulations or deemed to be a part of such registration statement pursuant to Rule 430B of the Securities Act Regulations, is herein called the “Registration
Statement.” The base prospectus, including all documents incorporated therein by reference, included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or
Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act Regulations, together with the then issued Issuer Free Writing Prospectus(es), is herein called the
“Prospectus.” 
 Any reference herein to the Registration Statement, any Prospectus Supplement,
Prospectus or any Issuer Free Writing Prospectus (defined below) shall be deemed to refer to and include the documents, if any, incorporated by reference therein (the “Incorporated Documents”), including, unless the context
otherwise requires, the documents, if any, filed as exhibits to such Incorporated Documents. Any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement, any
Prospectus Supplement, the Prospectus or any Issuer Free Writing Prospectus shall be deemed to refer to and include the filing of any document under the Exchange Act on or after the most-recent effective date of the Registration Statement, or the
date of the Prospectus Supplement, Prospectus or such Issuer Free Writing Prospectus, as the case may be, and incorporated therein by reference. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any
amendment or supplement thereto shall be deemed to include the most recent copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval System, or if applicable, the Interactive Data Electronic Application system
when used by the Commission (collectively, “EDGAR”). 
 2. Placements. Each time that the Company
wishes to issue and sell Placement Shares hereunder (each, a “Placement”), it will notify the Agent by email notice (or other method mutually agreed to in writing by the Parties) of the number of Placement Shares, the time
period during which sales are requested to be made, any limitation on the number of Placement Shares that may be sold in any one day and any minimum price below which sales may not be made (a “Placement Notice”), the form of
which is attached hereto as Schedule 1. The Placement Notice shall originate from any of the individuals from the Company set forth on Schedule 3 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be
addressed to each of the individuals from the Agent set forth on Schedule 3, as such Schedule 3 may be amended from time to time. The Placement Notice shall be effective unless and until (i) the Agent declines to accept the terms contained
therein for any reason, in its sole discretion, and the Agent provides notice thereof within two (2) Business Days (as defined below) of receipt of such Placement Notice; (ii) the entire amount of the Placement Shares thereunder have been
sold; (iii) the Company suspends or terminates the Placement Notice (including through the issuance of a Placement Notice that, by its terms, supersedes any prior Placement Notice) or (iv) this Agreement has been terminated under the
provisions of Section 12. The amount of any discount or commission to be paid by the Company to Agent in 

  
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connection with the sale of the Placement Shares shall be calculated in accordance with the terms set forth in Schedule 2. It is expressly acknowledged and agreed that neither the Company nor the
Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms set forth
above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control. 

3. Sale of Placement Shares by Agent. Subject to the provisions of Section 5(a), the Agent, for the period specified
in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the NASDAQ Global Select Market (the
“Exchange”), to sell the Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Agent will provide written confirmation to the Company no later than the opening
of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company to the Agent
pursuant to Section 2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth in Section 5(b)) from the gross proceeds
that it receives from such sales. Subject to the terms of the Placement Notice, the Agent may sell Placement Shares by any method permitted by law deemed to be an “at the market” offering as defined in Rule 415 of the Securities Act
Regulations, including without limitation sales made directly on the Exchange, on any other existing trading market for the Common Stock or to or through a market maker. Subject to the terms of a Placement Notice, the Agent may also sell Placement
Shares by any other method permitted by law, including but not limited to in privately negotiated transactions. “Trading Day” means any day on which Common Stock is traded on the Exchange. 

4. Suspension of Sales. The Company or the Agent may, upon notice to the other party in writing (including by email correspondence
to each of the individuals of the other Party set forth on Schedule 3 or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other Party set forth on Schedule 3), suspend
any sale of Placement Shares (a “Suspension”); provided, however, that such suspension shall not affect or impair any party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such
notice. While a Suspension is in effect any obligation under Sections 7(l), 7(m), and 7(n) with respect to the delivery of certificates, opinions, or comfort letters to the Agent, shall be waived, provided, however, that such waiver shall not apply
for the Representation Date (defined below) occurring on the date that the Company files its annual report on Form 10-K. Each of the parties agrees that no such notice under this Section 4 shall be effective against any other party unless it is
made to one of the individuals named on Schedule 3 hereto, as such Schedule may be amended from time to time. 
 5. Sale and
Delivery to the Agent; Settlement. 
 (a) Sale of Placement Shares. On the basis of the representations and
warranties herein contained and subject to the terms and conditions herein set forth, upon the Agent’s acceptance of the terms of a Placement Notice, and unless the sale of the Placement 

  
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Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, the Agent, for the period specified in the Placement Notice, will
use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the Exchange to sell such Placement Shares up to the amount specified, and
otherwise in accordance with the terms of such Placement Notice. The Company acknowledges and agrees that (i) there can be no assurance that the Agent will be successful in selling Placement Shares, (ii) the Agent will incur no liability
or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices and
applicable state and federal laws, rules and regulations and the rules of the Exchange to sell such Placement Shares as required under this Agreement and (iii) the Agent shall be under no obligation to purchase Placement Shares on a principal
basis pursuant to this Agreement, except as otherwise agreed by the Agent and the Company. 
 (b)
Settlement of Placement Shares. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares will occur on the third (3rd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which
such sales are made (each, a “Settlement Date”). The Agent shall notify the Company of each sale of Placement Shares on the date of such sale. The amount of proceeds to be delivered to the Company on a Settlement Date against
receipt of the Placement Shares sold (the “Net Proceeds”) will be equal to the aggregate sales price received by the Agent, after deduction for (i) the Agent’s commission or discount for such sales payable by the
Company pursuant to Section 2 hereof, and (ii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales. 
 (c) Delivery of Placement Shares. On or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting the
Agent’s or its designee’s account (provided the Agent shall have given the Company written notice of such designee at least one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at
Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, the Agent will
deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver
Placement Shares on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section 10(a) hereto, it will (i) hold the Agent harmless against any loss, claim, damage, or
expense (including reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent (if applicable) and (ii) pay to the Agent any commission or discount to
which it would otherwise have been entitled absent such default. 
 (d) Denominations; Registration. If the Placement
Shares are not being delivered in book-entry form through the facilities of The Depository Trust Company, certificates for the Placement Shares, if any, shall be in such denominations and registered in such names as the Agent may request in writing
at least one full Business Day before the 

  
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Settlement Date. The certificates for the Placement Shares, if any, will be made available by the Company for examination and packaging by the Agent in The City of New York not later
than noon (New York time) on the Business Day prior to the Settlement Date. 
 (e) Limitations on Offering
Size. Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement Shares sold pursuant
to this Agreement would exceed the lesser of (A) together with all sales of Placement Shares under this Agreement, the Maximum Amount, (B) the amount available for offer and sale under the currently effective Registration Statement and
(C) the amount authorized from time to time to be issued and sold under this Agreement by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent in writing.
Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company’s board of directors, a duly
authorized committee thereof or a duly authorized executive committee, and notified to the Agent in writing. Further, under no circumstances shall the Company cause or permit the aggregate offering amount of Placement Shares sold pursuant to this
Agreement to exceed the Maximum Amount. 
 6. Representations and Warranties of the Company. The Company represents and
warrants to, and agrees with Agent that as of the date of this Agreement and as of each Applicable Time (as defined below): 

(a) Registration Statement and Prospectus. The Company and the transactions contemplated by this Agreement meet the requirements
for and comply with the conditions for the use of Form S-3 under the Securities Act. The Registration Statement has been filed with the Commission and has been declared effective by the Commission under the Securities Act. The Prospectus Supplement
will name the Agent as the agent in the section entitled “Plan of Distribution.” The Company has not received, and has no notice of, any order of the Commission preventing or suspending the use of the Registration Statement, or threatening
or instituting proceedings for that purpose. The Registration Statement and the offer and sale of Placement Shares as contemplated hereby meet the requirements of Rule 415 under the Securities Act and comply in all material respects with said
Rule. Any statutes, regulations, contracts or other documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed. Copies of the
Registration Statement, the Prospectus, and any such amendments or supplements and all documents incorporated by reference therein that were filed with the Commission on or prior to the date of this Agreement have been delivered, or are available
through EDGAR, to Agent and its counsel. The Company has not distributed and, prior to the later to occur of each Settlement Date and completion of the distribution of the Placement Shares, will not distribute any offering material in connection
with the offering or sale of the Placement Shares other than the Registration Statement and the Prospectus and any Issuer Free Writing Prospectus (as defined below) to which Agent has consented. The Common Stock is registered pursuant to
Section 12(b) of the Exchange Act and is currently listed on the Exchange under the trading symbol “PACB.” The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common Stock
under the Exchange Act, delisting the Common Stock from the Exchange, nor has the Company received any notification 

  
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that the Commission or the Exchange is contemplating terminating such registration or listing. To the Company’s knowledge, it is in compliance with all applicable listing requirements of the
Exchange. 
 (b) No Misstatement or Omission. At each Settlement Date, the Registration Statement and the Prospectus, as
of such date, will conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective, did not, and will not, contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date thereof and at each Applicable Time (defined below), did not or will not
include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The documents incorporated by reference in the
Prospectus or any Prospectus Supplement did not, and any further documents filed and incorporated by reference therein will not, when filed with the Commission, contain an untrue statement of a material fact or omit to state a material fact required
to be stated in such document or necessary to make the statements in such document, in light of the circumstances under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such document made
in reliance upon, and in conformity with, information furnished to the Company by Agent specifically for use in the preparation thereof. 
 (c) Conformity with Securities Act and Exchange Act. The Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or any amendment or supplement thereto, and the documents
incorporated by reference in the Registration Statement, the Prospectus or any amendment or supplement thereto, when such documents were or are filed with the Commission under the Securities Act or the Exchange Act or became or become effective
under the Securities Act, as the case may be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable. 

(d) Financial Information. The consolidated financial statements of the Company included or incorporated by reference in the
Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, together with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and the Subsidiaries
(as defined below) as of the dates indicated and the consolidated results of operations, cash flows and changes in stockholders’ equity of the Company for the periods specified and have been prepared in compliance in all material respects with
the requirements of the Securities Act and Exchange Act and in conformity with GAAP (as defined below) applied on a consistent basis during the periods involved; the other financial and statistical data with respect to the Company and the
Subsidiaries (as defined below) contained or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, are accurately and fairly presented in all material respects and prepared on a
basis consistent with the financial statements and books and records of the Company; there are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement, or the
Prospectus that are not included or incorporated by reference as required; the Company and the Subsidiaries (as defined below) do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations),
not described in the Registration Statement (excluding the exhibits thereto), and the 

  
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Prospectus; and all disclosures contained or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, regarding “non-GAAP
financial measures” (as such term is defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable. 

(e) Conformity with EDGAR Filing. The Prospectus delivered to Agent for use in connection with the sale of the Placement Shares
pursuant to this Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent permitted by Regulation S-T. 

(f) Organization. The Company and each of its Subsidiaries (as defined below) are duly organized, validly existing as a
corporation and in good standing under the laws of their respective jurisdictions of organization. The Company and each of its Subsidiaries (as defined below) are duly licensed or qualified as a foreign corporation for transaction of business and in
good standing under the laws of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have all corporate power and authority
necessary to own or hold their respective properties and to conduct their respective businesses as described in the Registration Statement and the Prospectus, except where the failure to be so qualified or in good standing or have such power or
authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business, operations, earnings, properties, condition (financial or
otherwise), prospects, stockholders’ equity or results of operations of the Company and the Subsidiaries (as defined below) taken as a whole, or prevent or materially interfere with consummation of the transactions contemplated hereby (a
“Material Adverse Effect”). 
 (g) Subsidiaries. The subsidiaries set forth on Schedule 4
(collectively, the “Subsidiaries”), are the Company’s only significant subsidiaries (as such term is defined in Rule 1-02 of Regulation S-X promulgated by the Commission). Except as set forth in the Registration
Statement and in the Prospectus, the Company owns, directly or indirectly, all of the equity interests of the Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and all the
equity interests of the Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive and similar rights. 
 (h) No Violation or Default. Neither the Company nor any of its Subsidiaries is (i) in violation of its charter or by-laws or similar organizational documents; (ii) in default, and no
event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries are subject; or
(iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of each of clauses (ii) and (iii) above, for any such
violation or default that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the Company’s knowledge, no other party under any material contract or other agreement to which it or any of its
Subsidiaries is a party is in default in any respect thereunder where such default would have a Material Adverse Effect. 

  
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 (i) No Material Adverse Change. Subsequent to the respective dates as of which
information is given in the Registration Statement, the Prospectus and the Free Writing Prospectuses, if any (including any document deemed incorporated by reference therein), there has not been (i) any Material Adverse Effect or the occurrence
of any development that the Company reasonably expects will result in a Material Adverse Effect, (ii) any transaction which is material to the Company and the Subsidiaries taken as a whole, (iii) any obligation or liability, direct or
contingent (including any off-balance sheet obligations), incurred by the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv) any material change in the capital stock or outstanding long-term
indebtedness of the Company or any of its Subsidiaries or (v) any dividend or distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary, other than in each case above in the ordinary course of
business or as otherwise disclosed in the Registration Statement or Prospectus (including any document deemed incorporated by reference therein). 
 (j) Capitalization. The issued and outstanding shares of capital stock of the Company have been validly issued, are fully paid and nonassessable and, other than as disclosed in the Registration
Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or similar rights. The Company has an authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus as
of the dates referred to therein (other than the grant of additional options under the Company’s existing stock option plans, or changes in the number of outstanding shares of Common Stock of the Company due to the issuance of shares upon the
exercise or conversion of securities exercisable for, or convertible into, Common Stock outstanding on the date hereof) and such authorized capital stock conforms in all material respects to the description thereof set forth in the Registration
Statement and the Prospectus. The description of the securities of the Company in the Registration Statement and the Prospectus is complete and accurate in all material respects. Except as disclosed in or contemplated by the Registration Statement
or the Prospectus, as of the date referred to therein, the Company does not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities or obligations convertible into, or exchangeable for, or any
contracts or commitments to issue or sell, any shares of capital stock or other securities. 
 (k) Authorization;
Enforceability. The Company has full legal right, power and authority to enter into this Agreement and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company and is a legal,
valid and binding agreement of the Company enforceable in accordance with its terms, except to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights
generally and by general equitable principles. 
 (l) Authorization of Placement Shares. The Placement Shares, when
issued and delivered pursuant to the terms approved by the board of directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein, will be duly and validly
authorized and issued and fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim, 

  
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including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12 of the Exchange Act.
The Placement Shares, when issued, will conform in all material respects to the description thereof set forth in or incorporated into the Prospectus. 
 (m) No Consents Required. No consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the
execution, delivery and performance by the Company of this Agreement, the issuance and sale by the Company of the Placement Shares, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required
under applicable state securities laws or by the by-laws and rules of the Financial Industry Regulatory Authority (“FINRA”) or the Exchange in connection with the sale of the Placement Shares by the Agent. 

(n) No Preferential Rights. Except as set forth in the Registration Statement and the Prospectus, or except as otherwise waived in
writing prior to the date hereof, (i) no person, as such term is defined in Rule 1-02 of Regulation S-X promulgated under the Securities Act (each, a “Person”), has the right, contractual or otherwise, to cause the
Company to issue or sell to such Person any Common Stock or shares of any other capital stock or other securities of the Company, (ii) no Person has any preemptive rights, resale rights, rights of first refusal, or any other rights (whether
pursuant to a “poison pill” provision or otherwise) to purchase any Common Stock or shares of any other capital stock or other securities of the Company, (iii) no Person has the right to act as an underwriter or as a financial advisor
to the Company in connection with the offer and sale of the Common Stock, and (iv) no Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Common Stock or shares of any other capital
stock or other securities of the Company, or to include any such shares or other securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration Statement or the
sale of the Placement Shares as contemplated thereby or otherwise. 
 (o) Independent Public Accounting Firm.
Ernst & Young LLP and PricewaterhouseCoopers LLP (the “Accountants”), whose reports on the consolidated financial statements of the Company are filed with the Commission as part of the Registration Statement and the
Prospectus, are (in the case of Ernst & Young LLP) and, during the periods covered by their report, were an independent registered public accounting firm within the meaning of the Securities Act and the Public Company Accounting Oversight
Board (United States). To the Company’s knowledge, the Accountants are not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) with respect to the Company.

 (p) [Reserved.] 
 (q) No Litigation. Except as set forth in the Registration Statement or the Prospectus, there are no legal, governmental or regulatory actions, suits or proceedings pending, nor, to the
Company’s knowledge, any legal, governmental or regulatory audits or investigations, to which the Company or a Subsidiary is a party or to which any property of the Company or any of its Subsidiaries is the subject that, individually or in the
aggregate, if determined adversely to the Company or any of its Subsidiaries, would reasonably be expected to have a Material 

  
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Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement; to the Company’s knowledge, no such actions, suits or
proceedings are threatened by any governmental or regulatory authority or threatened by others; and (i) there are no current or pending legal, governmental or regulatory audits or investigations, actions, suits or proceedings that are required
under the Securities Act to be described in the Prospectus that are not so described; and (ii) there are no contracts or other documents that are required under the Securities Act to be filed as exhibits to the Registration Statement that are
not so filed. 
 (r) Consents and Permits. Except as disclosed in the Registration Statement and the Prospectus, the
Company and its Subsidiaries have made all filings, applications and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates, certifications, clearances, consents, grants, exemptions, marks,
notifications, orders, permits and other authorizations issued by, the appropriate federal, state or foreign governmental or regulatory authorities (including, without limitation, the United States Food and Drug Administration (the
“FDA”), the United States Drug Enforcement Administration or any other foreign, federal, state, provincial, court or local government or regulatory authorities including self-regulatory organizations engaged in the regulation
of clinical trials, pharmaceuticals, biologics or biohazardous substances or materials) necessary for the ownership or lease of their respective properties or to conduct its businesses as described in the Registration Statement and the Prospectus
(collectively, “Permits”), except for such Permits the failure of which to possess, obtain or make the same would not reasonably be expected to have a Material Adverse Effect; the Company and its Subsidiaries are in
compliance with the terms and conditions of all such Permits, except where the failure to be in compliance would not reasonably be expected to have a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where
any invalidity, individually or in the aggregate, would be reasonably expected to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received any written notice of proceedings relating to the limitation,
revocation, cancellation, suspension, modification or non-renewal of any such Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect, and has any reason to believe
that any such license, certificate, permit or authorization will not be renewed in the ordinary course. 
 (s) Regulatory
Filings. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor any of its Subsidiaries has failed to file with the applicable regulatory authorities (including, without limitation, the FDA, or any foreign,
federal, state, provincial or local governmental or regulatory authority performing functions similar to those performed by the FDA) any required filing, declaration, listing, registration, report or submission, except for such failures that,
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; except as disclosed in the Registration Statement and the Prospectus, all such filings, declarations, listings, registrations, reports or
submissions were in compliance with applicable laws when filed and no deficiencies have been asserted by any applicable regulatory authority with respect to any such filings, declarations, listings, registrations, reports or submissions, except for
any deficiencies that, individually or in the aggregate, would not have a Material Adverse Effect. 

  
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 (t) Intellectual Property. Except as disclosed in the Registration Statement and the
Prospectus, the Company and its Subsidiaries own, possess, license or have other rights to use, or could obtain on commercially reasonable terms, all foreign and domestic patents, patent applications, trade and service marks, trade and service mark
registrations, trade names, copyrights, licenses, inventions, trade secrets, technology, Internet domain names, know-how and other intellectual property (collectively, the “Intellectual Property”), necessary for the conduct
of their respective businesses as now conducted except to the extent that the failure to own, possess, license or otherwise hold adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a Material Adverse
Effect. Except as disclosed in the Registration Statement and the Prospectus (a) there are no rights of third parties to any such Intellectual Property owned by the Company and its Subsidiaries; (b) to the Company’s knowledge, there
is no infringement by third parties of any such Intellectual Property; (c) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others challenging the Company’s and its Subsidiaries’
rights in or to any such Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding or claim; (d) there is no pending or, to the Company’s knowledge, threatened
action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property; (e) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others that the
Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright, trade secret or other proprietary rights of others; (f) to the Company’s knowledge, there is no third-party U.S. patent or published U.S. patent
application which contains claims for which an Interference Proceeding (as defined in 35 U.S.C. § 135) has been commenced against any patent or patent application described in the Prospectus as being owned by or licensed to the Company; and
(g) the Company and its Subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property has been licensed to the Company or such Subsidiary, and all such agreements are in full force and effect, except, in
the case of any of clauses (a)-(g) above, for any such infringement by third parties or any such pending or threatened suit, action, proceeding or claim as would not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect. 
 (u) Market Capitalization. At the time the Registration Statement was originally declared
effective, and at the time the Company’s most recent Annual Report on Form 10-K was filed with the Commission, the Company met the then applicable requirements for the use of Form S-3 under the Securities Act, including but not limited
Instruction I.B.1 of Form S-3. The Company is not a shell company (as defined in Rule 405 under the Securities Act) and has never been a shell company. 
 (v) No Material Defaults. Neither the Company nor any of the Subsidiaries has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which
defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on
Form 10-K, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases,
which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

  
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 (w) Certain Market Activities. Neither the Company, nor any of the Subsidiaries, nor
any of their respective directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that has constituted or might reasonably be expected to cause or result in, under the Exchange Act or otherwise, the
stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares. 
 (x) Broker/Dealer Relationships. Neither the Company nor any of the Subsidiaries or any related entities (i) is required to register as a “broker” or “dealer” in accordance
with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a “person associated with a member” or “associated person of a member” (within the meaning set forth
in the FINRA Manual). 
 (y) No Reliance. The Company has not relied upon the Agent or legal counsel for the Agent for
any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares. 
 (z) Taxes. The
Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns which have been required to be filed and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become due and are
not being contested in good faith, except where the failure to so file or pay would not have a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus, no tax deficiency has been
determined adversely to the Company or any of its Subsidiaries which has had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. The Company has no knowledge of any federal, state or other
governmental tax deficiency, penalty or assessment which has been or might be asserted or threatened against it which would have a Material Adverse Effect. 
 (aa) Title to Real and Personal Property. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries have good and marketable title in fee simple to all
items of real property owned by them, good and valid title to all personal property described in the Registration Statement or Prospectus as being owned by them that are material to the businesses of the Company or such Subsidiary, in each case free
and clear of all liens, encumbrances and claims, except those that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and any of its Subsidiaries or (ii) would not reasonably be
expected, individually or in the aggregate, to have a Material Adverse Effect. Any real or personal property described in the Registration Statement or Prospectus as being leased by the Company and any of its Subsidiaries is held by them under
valid, existing and enforceable leases, except those that (A) do not materially interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries or (B) would not be reasonably expected,
individually or in the aggregate, to have a Material Adverse Effect. Each of the properties of the Company and its Subsidiaries complies with all applicable codes, laws and regulations (including, without limitation, building and zoning codes, laws
and regulations and laws relating to access to such properties), except if and to the extent disclosed in the Registration Statement or Prospectus or except for such failures to comply that would not, individually or in the aggregate, reasonably be
expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect. None of the Company or its

  
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subsidiaries has received from any governmental or regulatory authorities any notice of any condemnation of, or zoning change affecting, the properties of the Company and its Subsidiaries, and
the Company knows of no such condemnation or zoning change which is threatened, except for such that would not reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and
its Subsidiaries or otherwise have a Material Adverse Effect, individually or in the aggregate. 
 (bb) Environmental
Laws. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries (i) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders
relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”); (ii) have received and are in compliance
with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses as described in the Registration Statement and the Prospectus; and (iii) have not received notice of any
actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of any of clauses (i), (ii) or (iii) above, for any
such failure to comply or failure to receive required permits, licenses, other approvals or liability as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(cc) Disclosure Controls. The Company and each of its Subsidiaries maintain systems of internal accounting controls sufficient to
provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company’s internal control over financial reporting is effective and the Company is not
aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the Prospectus). Since the date of the latest audited financial statements of the Company included in the Prospectus, there has been no
change in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting (other than as set forth in the
Prospectus). The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures to ensure that material information relating to the
Company and each of its Subsidiaries is made known to the certifying officers by others within those entities, particularly during the period in which the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may
be, is being prepared. The Company’s certifying officers have evaluated the effectiveness of the Company’s controls and procedures as of a date within 90 days prior to the filing date of the Form 10-K for the fiscal year most recently
ended (such date, the “Evaluation Date”). The Company presented in its Form 10-K for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness of the disclosure controls and
procedures based on their evaluations as of the Evaluation Date and the disclosure controls and procedures are effective. Since the Evaluation Date, there have been no significant changes 

  
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in the Company’s internal controls (as such term is defined in Item 307(b) of Regulation S-K under the Securities Act) or, to the Company’s knowledge, in other factors that could
significantly affect the Company’s internal controls. 
 (dd) Sarbanes-Oxley. There is and has been no failure on
the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules and regulations promulgated
thereunder. Each of the principal executive officer and the principal financial officer of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as applicable) has made all
certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission. For purposes of the preceding
sentence, “principal executive officer” and “principal financial officer” shall have the meanings given to such terms in the Sarbanes-Oxley Act. 
 (ee) Finder’s Fees. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder’s fees, brokerage commissions or similar payments in connection with the
transactions herein contemplated, except as may otherwise exist with respect to Agent pursuant to this Agreement. 
 (ff)
Labor Disputes. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is threatened which would reasonably be expected to result in a Material Adverse Effect.

 (gg) Investment Company Act. Neither the Company nor any of the Subsidiaries is or, after giving effect to the
offering and sale of the Placement Shares, will be an “investment company” or an entity “controlled” by an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended (the
“Investment Company Act”). 
 (hh) Operations. The operations of the Company and its Subsidiaries
are and have been conducted at all times in compliance with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions
to which the Company or its Subsidiaries are subject, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money
Laundering Laws”), except as would not reasonably be expected to result in a Material Adverse Effect; and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the
Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 
 (ii) Off-Balance Sheet Arrangements. There are no transactions, arrangements and other relationships between and/or among the Company, and/or, to the knowledge of the Company, any of its affiliates
and any unconsolidated entity, including, but not limited to, any structural finance, special purpose or limited purpose entity (each, an “Off Balance Sheet Transaction”) that would reasonably be expected to affect materially
the 

  
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Company’s liquidity or the availability of or requirements for its capital resources, including those Off Balance Sheet Transactions described in the Commission’s Statement about
Management’s Discussion and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Prospectus which have not been described as required. 

(jj) Underwriter Agreements. The Company is not a party to any agreement with an agent or underwriter for any other
“at-the-market” or continuous equity transaction. 
 (kk) ERISA. To the knowledge of the Company, each material
employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered or contributed to by the Company or any of its
affiliates for employees or former employees of the Company and any of its Subsidiaries has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not
limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”); no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in
a material liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section 412 of the Code or
Section 302 of ERISA, no “accumulated funding deficiency” as defined in Section 412 of the Code has been incurred, whether or not waived, and the fair market value of the assets of each such plan (excluding for these purposes
accrued but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions. 
 (ll) Forward Looking Statements. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) (a “Forward Looking
Statement”) contained in the Registration Statement and the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith. The Forward Looking Statements incorporated by reference in
the Registration Statement and the Prospectus from the Company’s Annual Report on Form 10-K for the fiscal year most recently ended (i) are within the coverage of the safe harbor for forward looking statements set forth in Section 27A
of the Securities Act, Rule 175(b) under the Securities Act or Rule 3b-6 under the Exchange Act, as applicable, (ii) at the time when made, were made by the Company with a reasonable basis and in good faith and reflect the Company’s good
faith commercially reasonable best estimate of the matters described therein, and (iii) have been prepared in accordance with Item 10 of Regulation S-K under the Securities Act. 

(mm) Agent Purchases. The Company acknowledges and agrees that Agent has informed the Company that the Agent may, to the extent
permitted under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while this Agreement is in effect, provided, that (i) no such purchase or sales shall take place while a Placement Notice is in effect
(except to the extent each Agent may engage in sales of Placement Shares purchased or deemed purchased from the Company as a “riskless principal” or in a similar capacity); (ii) the Company shall not be deemed to have authorized or
consented to any such purchases or sales by the Agent and (iii) such purchases are made in accordance with applicable law. 

  
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 (nn) Margin Rules. Neither the issuance, sale and delivery of the Placement Shares
nor the application of the proceeds thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board
of Governors. 
 (oo) Insurance. The Company and each of its Subsidiaries carry, or are covered by, insurance in such
amounts and covering such risks as the Company and each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary for companies engaged in similar businesses in similar industries. 

(pp) No Improper Practices. (i) Neither the Company nor, to the Company’s knowledge, the Subsidiaries, nor to the
Company’s knowledge, any of their respective executive officers has, in the past five years, made any unlawful contributions to any candidate for any political office (or failed fully to disclose any contribution in violation of law) or made
any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other person charged with similar public or quasi-public duty in violation of any law or of the character required to be
disclosed in the Prospectus; (ii) no relationship, direct or indirect, exists between or among the Company or, to the Company’s knowledge, any Subsidiary or any affiliate of any of them, on the one hand, and the directors, officers and
stockholders of the Company or, to the Company’s knowledge, any Subsidiary, on the other hand, that is required by the Securities Act to be described in the Registration Statement and the Prospectus that is not so described; (iii) no
relationship, direct or indirect, exists between or among the Company or any Subsidiary or any affiliate of them, on the one hand, and the directors, officers, or stockholders of the Company or, to the Company’s knowledge, any Subsidiary, on
the other hand, that is required by the rules of FINRA to be described in the Registration Statement and the Prospectus that is not so described; (iv) except as described in the Prospectus, there are no material outstanding loans or advances or
material guarantees of indebtedness by the Company or, to the Company’s knowledge, any Subsidiary to or for the benefit of any of their respective officers or directors or any of the members of the families of any of them; and (v) the
Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully (A) a customer or supplier of the Company or any Subsidiary to alter the customer’s or supplier’s
level or type of business with the Company or any Subsidiary or (B) a trade journalist or publication to write or publish favorable information about the Company or any Subsidiary or any of their respective products or services, and,
(vi) neither the Company nor any Subsidiary nor, to the Company’s knowledge, any employee or agent of the Company or any Subsidiary has made any payment of funds of the Company or any Subsidiary or received or retained any funds in
violation of any law, rule or regulation (including, without limitation, the Foreign Corrupt Practices Act of 1977), which payment, receipt or retention of funds is of a character required to be disclosed in the Registration Statement or the
Prospectus. 
 (qq) Status Under the Securities Act. The Company was not and is not an ineligible issuer as defined in
Rule 405 under the Securities Act at the times specified in Rules 164 and 433 under the Securities Act in connection with the offering of the Placement Shares. 
 (rr) No Misstatement or Omission in an Issuer Free Writing Prospectus. Each Issuer Free Writing Prospectus, as of its issue date and as of each Applicable Time (as defined in Section 24
below), did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the 

  
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Prospectus, including any incorporated document deemed to be a part thereof that has not been superseded or modified. The foregoing sentence does not apply to statements in or omissions from any
Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by the Agent specifically for use therein. 
 (ss) No Conflicts. Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement Shares, nor the consummation of any of the transactions contemplated herein and
therein, nor the compliance by the Company with the terms and provisions hereof and thereof will conflict with, or will result in a breach of, any of the terms and provisions of, or has constituted or will constitute a default under, or has resulted
in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to the terms of any contract or other agreement to which the Company may be bound or to which any of the property
or assets of the Company is subject, except (i) such conflicts, breaches or defaults as may have been waived and (ii) such conflicts, breaches and defaults that would not have a Material Adverse Effect; nor will such action result
(x) in any violation of the provisions of the organizational or governing documents of the Company, or (y) in any violation of the provisions of any statute or any order, rule or regulation applicable to the Company or of any court or of
any federal, state or other regulatory authority or other government body having jurisdiction over the Company other than, with respect to this clause (y) only, any violation that would not have a Material Adverse Effect. 

(tt) (i) The Company represents that, neither the Company nor any of its Subsidiaries (collectively, the
“Entity”) or any director, officer, employee, agent, affiliate or representative of the Entity, is a government, individual, or entity (in this paragraph (tt), “Person”) that is, or is owned or
controlled by a Person that is: 
 (A) the subject of any sanctions administered or enforced by the U.S.
Department of Treasury’s Office of Foreign Assets Control, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), nor

 (B) located, organized or resident in a country or territory that is the subject of Sanctions (including,
without limitation, Burma/Myanmar, Cuba, Iran, North Korea, Sudan and Syria). 
 (ii) The Entity represents and covenants
that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: 

(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at
the time of such funding or facilitation, is the subject of Sanctions; or 
 (B) in any other manner that
will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). 

  
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 (iii) The Entity represents and covenants that, except as detailed in the Prospectus,
for the past 5 years, it has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was
the subject of Sanctions. 
 (uu) Stock Transfer Taxes. On each Settlement Date, all stock transfer or other taxes (other
than income taxes) which are required to be paid in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully paid or provided for by the Company and all laws imposing such taxes will be or
will have been fully complied with. 
 Any certificate signed by an officer of the Company and delivered to the Agent or to
counsel for the Agent pursuant to or in connection with this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to the Agent as to the matters set forth therein. 

7. Covenants of the Company. The Company covenants and agrees with Agent that: 

(a) Registration Statement Amendments. After the date of this Agreement and during any period in which a Prospectus relating to
any Placement Shares is required to be delivered by Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company will notify the Agent
promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus has been
filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will prepare and file with the Commission, promptly upon the Agent’s
request, any amendments or supplements to the Registration Statement or Prospectus that, in such Agent’s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by the Agent (provided,
however, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations and warranties made by the Company in this Agreement
and provided, further, that the only remedy the Agent shall have with respect to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file
any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares (other than any document incorporated by reference) unless a copy thereof has been submitted to Agent within a reasonable period of time before
the filing and the Agent has not objected thereto (provided, however, that the failure of the Agent to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the
representations and warranties made by the Company in this Agreement and provided, further, that the only remedy Agent shall have with respect to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement)
and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR;
and (iv) the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required 

  
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pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the case of any document to be incorporated therein by reference, to be filed with the Commission as required
pursuant to the Exchange Act, within the time period prescribed (the determination to file or not file any amendment or supplement with the Commission under this Section 7(a), based on the Company’s reasonable opinion or reasonable
objections, shall be made exclusively by the Company). 
 (b) Notice of Commission Stop Orders. The Company will advise
the Agent, promptly after it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification
of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or
to obtain its withdrawal if such a stop order should be issued. The Company will advise the Agent promptly after it receives any request by the Commission for any amendments to the Registration Statement or any amendment or supplements to the
Prospectus or any Issuer Free Writing Prospectus or for additional information related to the offering of the Placement Shares or for additional information related to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus.

 (c) Delivery of Prospectus; Subsequent Changes. During any period in which a Prospectus relating to the Placement
Shares is required to be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act)
(the “Prospectus Delivery Period”), the Company will comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all reports and any
definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If during the Prospectus Delivery Period the Company
has omitted any information from the Registration Statement pursuant to Rule 430A under the Securities Act, it will use its reasonable best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to said
Rule 430A and to notify the Agent promptly of all such filings. If during the Prospectus Delivery Period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or
omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to
comply with the Securities Act, the Company will promptly notify Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the
Company) so as to correct such statement or omission or effect such compliance. 
 (d) Listing of Placement Shares.
During any period in which the Prospectus relating to the Placement Shares is required to be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, the Company will use its reasonable best efforts
to cause the Placement Shares to be listed on the Exchange. 

  
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 (e) Delivery of Registration Statement and Prospectus. The Company will furnish to
the Agent and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus
that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to
be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as the Agent may from time to time reasonably request and, at Agent’s request, will also furnish copies of the Prospectus to each
exchange or market on which sales of the Placement Shares may be made; provided, however, that the Company shall not be required to furnish any document to the Agent to the extent such document is available on EDGAR. 

(f) Earnings Statement. To the extent not available on the Commission’s EDGAR filing system, the Company will make generally
available to its security holders as soon as practicable, but in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earnings statement covering a 12-month period that satisfies the provisions of
Section 11(a) and Rule 158 of the Securities Act. 
 (g) Use of Proceeds. The Company will use the Net Proceeds as
described in the Prospectus in the section entitled “Use of Proceeds.” 
 (h) Notice of Other Sales. Without
the prior written consent of Agent, the Company will not, directly or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this
Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock during the period beginning on the fifth (5th) Trading Day immediately prior to the date on which any
Placement Notice is delivered to Agent hereunder and ending on the fifth (5th) Trading Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has
been terminated or suspended prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will not directly or indirectly in any other “at-the-market” or continuous equity
transaction offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Common
Stock, warrants or any rights to purchase or acquire, Common Stock prior to the later of the termination of this Agreement and the sixtieth (60th) day immediately following the final Settlement Date with respect to Placement Shares sold
pursuant to such Placement Notice; provided, however, that such restrictions will not be required in connection with the Company’s issuance or sale of (i) Common Stock, options to purchase Common Stock or Common Stock issuable upon the
exercise of options, pursuant to any employee or director stock option or benefits plan, stock ownership plan or dividend reinvestment plan (but not Common Stock subject to a waiver to exceed plan limits in its dividend reinvestment plan) of the
Company whether now in effect or hereafter implemented, (ii) Common Stock issuable upon conversion of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed in filings by the Company available on
EDGAR or otherwise in writing to the Agent; (iii) Common Stock or securities convertible into or exchangeable for 

  
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shares of Common Stock as consideration for mergers, acquisitions, other business combinations or strategic alliances occurring after the dates of this Agreement which are not issued for capital
raising purposes or (iv) Common Stock or securities convertible into or exchangeable for Common Stock, other than pursuant to any at-the-market offerings, equity lines of credit or any similar transactions in which the Company sells securities at a
future determined price. 
 (i) Change of Circumstances. The Company will, at any time during the pendency of a Placement
Notice delivered by the Company, advise the Agent promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other
document required to be provided to the Agent pursuant to this Agreement. 
 (j) Due Diligence Cooperation. The Company
will cooperate with any reasonable due diligence review conducted by the Agent or its representatives in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and
senior corporate officers, during regular business hours and at the Company’s principal offices, as the Agent may reasonably request; provided, however, that such review shall not unreasonably interfere with the Company’s normal
business operations. 
 (k) Required Filings Relating to Placement of Placement Shares. The Company agrees that on such
dates as the Securities Act shall require, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing under Rule 424(b), a
“Filing Date”), which prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the
Agent with respect to such Placement Shares, and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange
or market. 
 (l) Representation Dates; Certificate. (1) Prior to the date of the first Placement Notice and
(2) each time the Company: 
 (i) files the Prospectus relating to the Placement Shares or amends or supplements (other than
a prospectus supplement relating solely to an offering of securities other than the Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective amendment, sticker, or supplement but
not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement Shares; 
 (ii) files an annual report on Form 10-K under the Exchange Act (including any Form 10-K/A containing amended material financial information or a material amendment to the previously filed Form 10-K);

 (iii) files its quarterly reports on Form 10-Q under the Exchange Act; or 

(iv) files a current report on Form 8-K containing amended material financial information (other than information “furnished”
pursuant to Items 2.02 or 7.01 of Form 8-K or to 

  
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provide disclosure pursuant to Item 8.01 of Form 8-K relating to the reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting
Standards No. 144) under the Exchange Act (each date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a “Representation Date”); 

the Company shall furnish the Agent (but in the case of clause (iv) above only if the Agent reasonably determines that the information contained in
such Form 8-K is material) with a certificate, in the form attached hereto as Exhibit 7(l). The requirement to provide a certificate under this Section 7(l) shall be waived for any Representation Date occurring at a time a Suspension is in
effect, which waiver shall continue until the Company delivers instructions for the sale of Placement Shares hereunder (which for such calendar quarter shall be considered a Representation Date). Notwithstanding the foregoing, if the Company
subsequently decides to sell Placement Shares following a Representation Date when a Suspension was in effect and did not provide the Agent with a certificate under this Section 7(l), then before the Company delivers the instructions for the
sale of Placement Shares or the Agent sells any Placement Shares pursuant to such instructions, the Company shall provide the Agent with a certificate in conformity with this Section 7(l) dated as of the date that the instructions for the sale
of Placement Shares are issued. 
 (m) Legal Opinion. (1) Prior to the date of the first Placement Notice and
(2) within five (5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as Exhibit 7(l) for which no waiver is applicable and excluding the date of
this Agreement, the Company shall cause to be furnished to the Agent a written opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation (“Company Counsel”), or other counsel satisfactory to the Agent, in
form and substance satisfactory to Agent and its counsel, substantially similar to the form attached hereto as 
Exhibit 7(m), modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or
supplemented; provided, however, the Company shall be required to furnish to Agent no more than one opinion hereunder per calendar quarter; provided, further, that in lieu of such opinions for subsequent periodic filings under the Exchange Act,
counsel may furnish the Agent with a letter (a “Reliance Letter”) to the effect that the Agent may rely on a prior opinion delivered under this Section 7(m) to the same extent as if it were dated the date of such letter
(except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of the date of the Reliance Letter). 

(n) Comfort Letter. (1) Prior to the date of the first Placement Notice and (2) within five (5) Trading Days of
each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as Exhibit 7(l) for which no waiver is applicable and excluding the date of this Agreement, the Company shall cause its
independent registered public accounting firm to furnish the Agent letters (the “Comfort Letters”), dated the date the Comfort Letter is delivered, which shall meet the requirements set forth in this Section 7(n);
provided, that if requested by the Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within ten (10) Trading Days of the date of occurrence of any material transaction or event, including the restatement of the
Company’s financial statements. The Comfort Letter from the Company’s independent registered public accounting firm shall be in a form and substance satisfactory to the Agent, (i) confirming that they are an independent

  
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registered public accounting firm within the meaning of the Securities Act and the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the
financial information and other matters ordinarily covered by accountants’ “comfort letters” to underwriters in connection with registered public offerings (the first such letter, the “Initial Comfort Letter”)
and (iii) updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus,
as amended and supplemented to the date of such letter. 
 (o) Market Activities. The Company will not, directly or
indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of
Common Stock or (ii) sell, bid for, or purchase Common Stock, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agent. 
 (p) Investment Company Act. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor any of its Subsidiaries will be or become, at any time prior to the
termination of this Agreement, required to register as an “investment company,” as such term is defined in the Investment Company Act. 
 (q) No Offer to Sell. Other than an Issuer Free Writing Prospectus approved in advance by the Company and the Agent in its capacity as agent hereunder, neither the Agent nor the Company (including
its agents and representatives, other than Agent in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with the Commission,
that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder. 
 (r) Blue Sky and Other
Qualifications. The Company will use its commercially reasonable efforts, in cooperation with the Agent, to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold,
under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Agent may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Placement
Shares (but in no event for less than one year from the date of this Agreement); provided, however, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as
a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Shares
have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the
distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement). 
 (s)
Sarbanes-Oxley Act. The Company and the Subsidiaries will maintain and keep accurate books and records reflecting their assets and maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in 

  
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accordance with generally accepted accounting principles and including those policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and
fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide reasonable assurance that transactions are recorded as necessary to permit the preparation of the Company’s consolidated financial statements in
accordance with generally accepted accounting principles, (iii) that receipts and expenditures of the Company are being made only in accordance with management’s and the Company’s directors’ authorization, and (iv) provide
reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on its financial statements. The Company and the Subsidiaries will maintain
such controls and other procedures, including, without limitation, those required by Sections 302 and 906 of the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required to be disclosed by
the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms, including, without limitation, controls and
procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the Company’s management, including its principal executive
officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information relating to the Company or the Subsidiaries is made
known to them by others within those entities, particularly during the period in which such periodic reports are being prepared. 
 (t) Secretary’s Certificate; Further Documentation. Prior to the date of the first Placement Notice, the Company shall deliver to the Agent a certificate of the Secretary of the Company and
attested to by an executive officer of the Company, dated as of such date, certifying as to (i) the Certificate of Incorporation of the Company, (ii) the By-laws of the Company, (iii) the resolutions of the Board of Directors of the
Company (or a committee thereof) authorizing the execution, delivery and performance of this Agreement and the issuance of the Placement Shares and (iv) the incumbency of the officers duly authorized to execute this Agreement and the other
documents contemplated by this Agreement. Within five (5) Trading Days of each Representation Date, the Company shall have furnished to the Agent such further information, certificates and documents as the Agent may reasonably request.

 8. Payment of Expenses. The Company will pay all expenses incident to the performance of its obligations under this
Agreement, including (i) the preparation and filing of the Registration Statement, including any fees required by the Commission, and the printing or electronic delivery of the Prospectus as originally filed and of each amendment and supplement
thereto, in such number as the Agent shall deem necessary, (ii) the printing and delivery to the Agent of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the
Placement Shares, (iii) the preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the Agent, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable
upon the sale, issuance or delivery of the Placement Shares to the Agent, (iv) the fees and disbursements of the counsel, accountants and other advisors to the Company, (v) the fees and disbursements of the counsel to the Agent, payable
upon the execution of this Agreement, in an amount not to exceed $50,000; (vi) the qualification or exemption of the Placement Shares 

  
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under state securities laws in accordance with the provisions of Section 7(r) hereof, including filing fees, but excluding fees of the Agent’s counsel, (vii) the printing and
delivery to the Agent of copies of any Permitted Issuer Free Writing Prospectus and the Prospectus and any amendments or supplements thereto in such number as the Agent shall deem necessary, (viii) the preparation, printing and delivery to the
Agent of copies of the blue sky survey, (ix) the fees and expenses of the transfer agent and registrar for the Common Stock, (x) the filing and other fees incident to any review by FINRA of the terms of the sale of the Placement Shares
including the fees of the Agent’s counsel (subject to the cap, set forth in clause (v) above), and (xi) the fees and expenses incurred in connection with the listing of the Placement Shares on the Exchange. 

9. Conditions to Agent’s Obligations. The obligations of the Agent hereunder with respect to a Placement will be subject to
the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance in all material respects by the Company of its obligations hereunder, to the completion by the Agent of a due diligence
review satisfactory to it in its reasonable judgment, and to the continuing satisfaction (or waiver by the Agent in its sole discretion) in all material respects of the following additional conditions: 

(a) Registration Statement Effective. The Registration Statement shall have become effective and shall be available for the
(i) resale of all Placement Shares issued to the Agent and not yet sold by the Agent and (ii) sale of all Placement Shares contemplated to be issued by any Placement Notice. 

(b) No Material Notices. None of the following events shall have occurred and be continuing: (i) receipt by the Company of
any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or
supplements to the Registration Statement or the Prospectus and for which the Company has not so amended the Registration Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state governmental authority of
any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv) the occurrence of any event that makes any material statement made in the Registration
Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus or documents
so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading
and, that in the case of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading. 
 (c) No Misstatement or Material Omission. Agent shall not
have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent’s reasonable opinion is material, or omits to state a fact that in the
Agent’s reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. 

  
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 (d) Material Changes. Except as contemplated in the Prospectus, or disclosed in the
Company’s reports filed with the Commission, there shall not have been any Material Adverse Effect or any development that would reasonably be expected to cause a Material Adverse Effect, or a downgrading in or withdrawal of the rating assigned
to any of the Company’s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company’s securities
(other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of the Agent (without relieving the Company of any obligation or liability it may
otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Prospectus. 

(e) Legal Opinion. The Agent shall have received the opinions of Company Counsel required to be delivered pursuant to
Section 7(m) on or before the date on which such delivery of such opinion is required pursuant to Section 7(m). 
 (f)
Comfort Letter. The Agent shall have received the Comfort Letter required to be delivered pursuant to Section 7(n) on or before the date on which such delivery of such Comfort Letter is required pursuant to Section 7(n). 

(g) Representation Certificate. The Agent shall have received the certificate required to be delivered pursuant to
Section 7(l) on or before the date on which delivery of such certificate is required pursuant to Section 7(l). 
 (h)
No Suspension. Trading in the Common Stock shall not have been suspended on the Exchange and the Common Stock shall not have been delisted from the Exchange. 
 (i) Other Materials. On each date on which the Company is required to deliver a certificate pursuant to Section 7(l), the Company shall have furnished to the Agent such appropriate further
information, certificates and documents as the Agent may reasonably request. All such opinions, certificates, letters and other documents will be in compliance with the provisions hereof. The Company will furnish the Agent with such conformed copies
of such opinions, certificates, letters and other documents as the Agent shall reasonably request. 
 (j) Securities Act
Filings Made. All filings with the Commission required by Rule 424 with respect to an offering of the Placement Shares under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made
within the applicable time period prescribed for such filing by Rule 424. 
 (k) Approval for Listing. The Placement
Shares shall either have been approved for listing quotation on the Exchange, subject only to notice of issuance, or the Company shall have filed an application for listing quotation of the Placement Shares on the Exchange at, or prior to, the
issuance of any Placement Notice. 

  
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 (l) FINRA. FINRA shall have raised no objection to the terms of this offering and the
amount of compensation allowable or payable to the Agent as described in the Prospectus. 
 (m) No Termination Event.
There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant to Section 12(a). 

10. Indemnification and Contribution. 
 (a) Company Indemnification. The Company agrees to indemnify and hold harmless the Agent, its partners, members, directors, officers, employees and agents and each person, if any, who controls the
Agent within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act as follows: 
 (i)
against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or
any amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of
a material fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading; 
 (ii) against any and all loss, liability, claim,
damage and expense whatsoever, as incurred, joint or several, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section 10(d) below) any such settlement is effected with the written consent of the Company, which consent
shall not unreasonably be delayed or withheld; and 
 (iii) against any and all expense whatsoever, as incurred (including the
fees and disbursements of counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based
upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i) or (ii) above, 
 provided, however, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged
untrue statement or omission made solely in reliance upon and in conformity with written information furnished to the Company by the Agent expressly for use in the Registration Statement (or any amendment thereto), or in any related Issuer Free
Writing Prospectus or the Prospectus (or any amendment or supplement thereto). 
 (b) Agent Indemnification. Agent agrees
to indemnify and hold harmless the Company and its directors and each officer of the Company who signed the Registration 

  
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Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss,
liability, claim, damage and expense described in the indemnity contained in Section 10(a), as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or
any amendments thereto) or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information relating to the Agent and furnished to the Company in writing by the Agent expressly for use therein. The Company
hereby acknowledges that the only information that the Agent has furnished to the Company expressly for use in the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) are the
statements set forth in (i) the second sentence of the seventh paragraph and (ii) the eighth paragraph, in each case, under the caption “Plan of Distribution” in the Prospectus. 

(c) Procedure. Any party that proposes to assert the right to be indemnified under this Section 10 will, promptly after
receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this Section 10, notify each such indemnifying party of the commencement of such action,
enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under this Section 10
and (ii) any liability that it may have to any indemnified party under the foregoing provision of this Section 10 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the
indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering
written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel
reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other
expenses except as provided below and except for the reasonable costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such
action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party,
(2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party,
(3) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of
such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of
which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related
proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm admitted 

  
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to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly as
they are incurred. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified party,
settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 10 (whether or not any indemnified party is a party thereto), unless such
settlement, compromise or consent (1) includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (2) does not include a statement as to or an
admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 
 (d) Settlement Without
Consent if Failure to Reimburse. If an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel, such indemnifying party agrees that it shall be liable for
any settlement of the nature contemplated by Section 10(a)(ii) effected without its written consent if (1) such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (2) such
indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (3) such indemnifying party shall not have reimbursed such indemnified party in accordance with such
request prior to the date of such settlement. 
 (e) Contribution. In order to provide for just and equitable
contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this Section 10 is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or the Agent, the
Company and the Agent will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action,
suit or proceeding or any claim asserted, but after deducting any contribution received by the Company from persons other than the Agent, such as persons who control the Company within the meaning of the Securities Act, officers of the Company who
signed the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and the Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the
Company on the one hand and the Agent on the other hand. The relative benefits received by the Company on the one hand and the Agent on the other hand shall be deemed to be in the same proportion as the total net proceeds from the sale of the
Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by the Agent (before deducting expenses) from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation
provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the
relative fault of the Company, on the one hand, and the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant
equitable considerations with respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by the Company or the Agent, 

  
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the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Agent agree that it would not
be just and equitable if contributions pursuant to this Section 10(e) were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount
paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this Section 10(e) shall be deemed to include, for the purpose of this Section 10(e),
any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with Section 10(c) hereof. Notwithstanding the foregoing provisions of
this Section 10(e), the Agent shall not be required to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 10(e), any person who controls a party to this Agreement within the meaning of the
Securities Act, and any officers, directors, partners, employees or agents of the Agent, will have the same rights to contribution as that party, and each officer and director of the Company who signed the Registration Statement will have the same
rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for contribution
may be made under this Section 10(e), will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other
obligation it or they may have under this Section 10(e) except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a
settlement entered into pursuant to the last sentence of Section 10(c) hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to
Section 10(c) hereof. 
 11. Representations and Agreements to Survive Delivery. The indemnity and contribution
agreements contained in Section 10 of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation
made by or on behalf of the Agent, any controlling persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any
termination of this Agreement. 
 12. Termination. 

(a) The Agent may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1) if there has been,
since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any change, or any development or event involving a prospective change, in the condition, financial or otherwise, or in the business,
properties, earnings, results of operations or prospects of the Company and its Subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, which individually or in the aggregate, in the sole judgment of the
Agent is material and adverse and makes it impractical or inadvisable to market the Placement Shares or 

  
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to enforce contracts for the sale of the Placement Shares, (2) if there has occurred any material adverse change in the financial markets in the United States or the international financial
markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions, in each case the effect of
which is such as to make it, in the judgment of the Agent, impracticable or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (3) if trading in the Common Stock has been suspended or
limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum prices for trading have been fixed on the Exchange, (4) if any suspension of trading of any securities of the Company
on any exchange or in the over-the-counter market shall have occurred and be continuing, (5) if a major disruption of securities settlements or clearance services in the United States shall have occurred and be continuing, or (6) if a
banking moratorium has been declared by either U.S. Federal or New York authorities. Any such termination shall be without liability of any party to any other party except that the provisions of Section 8 (Payment of Expenses), Section 10
(Indemnification and Contribution), Section 11 (Representations and Agreements to Survive Delivery), Section 17 (Governing Law and Time; Waiver of Jury Trial) and Section 18 (Consent to Jurisdiction) hereof shall remain in full force
and effect notwithstanding such termination. If the Agent elects to terminate this Agreement as provided in this Section 12(a), the Agent shall provide the required notice as specified in Section 13 (Notices). 

(b) The Company shall have the right, by giving ten (10) days notice as hereinafter specified to terminate this Agreement in its
sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of Section 8, Section 10, Section 11, Section 17 and
Section 18 hereof shall remain in full force and effect notwithstanding such termination. 
 (c) The Agent shall have the
right, by giving ten (10) days notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party
except that the provisions of Section 8, Section 10, Section 11, Section 17 and Section 18 hereof shall remain in full force and effect notwithstanding such termination. 

(d) Unless earlier terminated pursuant to this Section 12, this Agreement shall automatically terminate upon the issuance and sale
of all of the Placement Shares through the Agent on the terms and subject to the conditions set forth herein; provided that the provisions of Section 8, Section 10, Section 11, Section 17 and Section 18 hereof shall remain
in full force and effect notwithstanding such termination. 
 (e) This Agreement shall remain in full force and effect unless
terminated pursuant to Sections 12(a), (b), (c), or (d) above or otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement shall in all cases be deemed to provide that Section 8,
Section 10, Section 11, Section 17 and Section 18 shall remain in full force and effect. 
 (f) Any
termination of this Agreement shall be effective on the date specified in such notice of termination; provided, however, that such termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or
the Company, as 

  
 -31-

 
the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this
Agreement. 
 13. Notices. All notices or other communications required or permitted to be given by any party to any
other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to: 
 Cantor Fitzgerald & Co. 
 499 Park Avenue 

New York, NY 10022 
 Attention:             Capital Markets/Jeff Lumby 
 Facsimile:             (212) 307-3730 
 with copies to 
 Cantor Fitzgerald & Co. 

499 Park Avenue 

New York, NY 10022 
 Attention:             Stephen Merkel 
                              General Counsel 

Facsimile:            (212) 307-3730 

and with a copy to: 
 Reed
Smith LLP 
 599 Lexington Avenue 
 New York, NY 10022 
 Attention:
            Daniel I. Goldberg, Esq. 

Facsimile:             (212) 521-5450 

and if to the Company, shall be delivered to: 
 Pacific Biosciences of California, Inc. 
 1380 Willow Road 

Menlo Park, California 94025 
 Attention:             Stephen Moore, Esq. 
 Facsimile:             (650) 323-9420 
 with a copy to: 
 Wilson Sonsini Goodrich & Rosati, P.C. 

650 Page Mill Road 
 Palo Alto, CA 94304 
 Attention:
            Donna M. Petkanics, Esq. 

Facsimile:             (650) 493-6811 

  
 -32-

 Each party to this Agreement may change such address for notices by sending to the parties
to this Agreement written notice of a new address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before
4:30 p.m., New York City time, on a Business Day or, if such day is not a Business Day, on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on
the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, “Business Day” shall mean any day on which the
Exchange and commercial banks in the City of New York are open for business. 
 An electronic communication
(“Electronic Notice”) shall be deemed written notice for purposes of this Section 13 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed
received at the time the party sending Electronic Notice receives verification of receipt by the receiving party (other than via auto-reply). Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in
a nonelectronic form (“Nonelectronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice. 

14. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and the Agent and their
respective successors and the affiliates, controlling persons, officers and directors referred to in Section 10 hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns
of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason
of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; provided, however, that, without obtaining the
Company’s consent, the Agent may assign its rights and obligations hereunder to an affiliate thereof so long as such affiliate is a registered broker-dealer. 
 15. Adjustments for Stock Splits. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend
or similar event effected with respect to the Placement Shares. 
 16. Entire Agreement; Amendment; Severability. This
Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant hereto, and that certain letter agreement by and between the parties dated as of the date hereof) constitutes the entire agreement and supersedes
all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written
instrument executed by the Company and the Agent. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent
jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or
unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this
Agreement. 

  
 -33-

 17. GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. THE COMPANY 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 AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 18. CONSENT TO JURISDICTION. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR
THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE
JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS
TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH
SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. 

19. Use of Information. The Agent may not provide any information gained in connection with this Agreement and the transactions
contemplated by this Agreement, including due diligence, to any third party other than its legal counsel advising it on this Agreement unless expressly approved by the Company in writing. 

20. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile transmission. 
 21. Effect of Headings. 
 The section and exhibit headings herein are
for convenience only and shall not affect the construction hereof. 

  
 -34-

 22. Permitted Free Writing Prospectuses. 

The Company represents, warrants and agrees that, unless it obtains the prior consent of the Agent, and the Agent represents, warrants
and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a
“free writing prospectus,” as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by the Agent or by the Company, as the case may be, is hereinafter referred to as a
“Permitted Free Writing Prospectus.” The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an “issuer free writing prospectus,” as defined in
Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record keeping. For the purposes of
clarity, the parties hereto agree that all free writing prospectuses, if any, listed in Exhibit 22 hereto are Permitted Free Writing Prospectuses. 
 23. Absence of Fiduciary Relationship. 
 The Company acknowledges and
agrees that: 
 (a) the Agent is acting solely as agent in connection with the public offering of the Placement Shares and in
connection with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders),
creditors or employees or any other party, on the one hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not the Agent has advised or
is advising the Company on other matters, and the Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; 

(b) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement; 
 (c) the Agent has not provided any legal, accounting, regulatory or tax advice with respect
to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; 
 (d) it is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company and the Agent has no obligation to disclose
such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and 

(e) it waives, to the fullest extent permitted by law, any claims it may have against the Agent for breach of fiduciary duty or alleged
breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement and agrees that the Agent shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary
duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees or creditors of Company, other than in respect of the Agent’s obligations under this Agreement and to keep information
provided by the Company to the Agent and the Agent’s counsel confidential to the extent not otherwise publicly-available. 

  
 -35-

 24. Definitions. 

As used in this Agreement, the following terms have the respective meanings set forth below: 

“Applicable Time” means (i) each Representation Date and (ii) the time of each sale of any
Placement Shares pursuant to this Agreement. 
 “Issuer Free Writing Prospectus” means any “issuer
free writing prospectus,” as defined in Rule 433, relating to the Placement Shares that (1) is required to be filed with the Commission by the Company, (2) is a “road show” that is a “written communication”
within the meaning of Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (3) is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Placement Shares or of the offering
that does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) under the Securities Act
Regulations. 
 “Rule 164,” “Rule 172,” “Rule 405,”
“Rule 415,” “Rule 424,” “Rule 424(b),” “Rule 430B,” and “Rule 433” refer to such rules under the Securities Act
Regulations. 
 All references in this Agreement to financial statements and schedules and other information that is
“contained,” “included” or “stated” in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other
information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. 
 All
references in this Agreement to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to
any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to
EDGAR; and all references in this Agreement to “supplements” to the Prospectus shall include, without limitation, any supplements, “wrappers” or similar materials prepared in connection with any offering, sale or private
placement of any Placement Shares by the Agent outside of the United States. 

  
 -36-

 If the foregoing correctly sets forth the understanding between the Company and the Agent,
please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Agent. 

 

			
		 	Very truly yours,
	
	PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
		
	By:	 	 /s/ Michael Hunkapiller

		 	Name: Michael Hunkapiller
		 	Title: Chief Executive Officer

  

			
		 	ACCEPTED as of the date first-above written:
	
	CANTOR FITZGERALD & CO.
		
	By:	 	 /s/ Jeffrey Lumby

		 	Name: Jeffrey Lumby
		 	Title: Senior Managing Director

 SCHEDULE 1 

 
  

FORM OF PLACEMENT NOTICE 
  

 
  

			
		
	From:	  	Pacific Biosciences of California, Inc.
		
	To:	  	 Cantor Fitzgerald & Co.
 Attention:
                                         
   

		
	Subject:	  	Placement Notice
		
	Gentlemen:	  	

 Pursuant to the terms and subject to the conditions contained in the Sales Agreement between Pacific
Biosciences of California, Inc., a Delaware corporation (the “Company”), and Cantor Fitzgerald & Co. (“Agent”), dated October 5, 2012, the Company hereby requests that the Agent sell up
to                      of the Company’s Common Stock, par value $0.001 per share, at a minimum market price of
$            per share, during the time period beginning [month, day, time] and ending [month, day, time] [and in an amount not to exceed
             shares to be sold on any Trading Day]. 

 SCHEDULE 2 

 
  

Compensation 
  

 
 The Company
shall pay to the Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to 3% of the aggregate gross proceeds from each sale of Placement Shares. 

 SCHEDULE 3 

 
  

Notice Parties 
  

 
  
 The Company 
 Susan Barnes (sbarnes@pacificbiosciences.com) 

Ben Gong (bgong@pacificbiosciences.com) 
 Brian
Dow (bdow@pacificbiosciences.com) 
 The Agent 
 Jeff Lumby (jlumby@cantor.com) 
 Josh Feldman (jfeldman@cantor.com) 

 SCHEDULE 4 

 
  

Subsidiaries 
  

 
 Pacific Biosciences
International, LLC 

 EXHIBIT 7(l) 

Form of Representation Date Certificate 
 The undersigned, the duly qualified and elected                    , of Pacific Biosciences of
California, Inc., a Delaware corporation (the “Company”), does hereby certify in such capacity and on behalf of the Company, pursuant to Section 7(l) of the Sales Agreement, dated October 5, 2012 (the “Sales
Agreement”), between the Company and Cantor Fitzgerald & Co., that to the best of the knowledge of the undersigned: 
 (i) The representations and warranties of the Company in Section 6 of the Sales Agreement (A) to the extent such representations and warranties are subject to qualifications and
exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and
correct as of such date, with the same force and effect as if expressly made on and as of the date hereof and (B) to the extent such representations and warranties are not subject to any qualifications or exceptions, are true and correct in all
material respects as of the date hereof as if made on and as of the date hereof except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, with the same force and effect
as if expressly made on and as of the date hereof; and 
 (ii) The Company has complied with all agreements and satisfied all
conditions on its part to be performed or satisfied pursuant to the Sales Agreement at or prior to the date hereof. 
  

			
	PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 Date: 

 Exhibit 22 

Permitted Free Writing Prospectus 
 None.Form of Contribution and Sale Agreement

 Exhibit 10.1 

 
  
 CONTRIBUTION AND SALE AGREEMENT 
 SEADRILL PARTNERS LLC 

Dated as of [—], 2012 

 
  

 TABLE OF CONTENTS 

 

							
		 	ARTICLE I	  			
		 	DEFINITIONS	  			
	Section 1.1	 	Definitions	  	 	4	  
			
		 	ARTICLE II	  			
		 	THE PRE-OFFERING CONTRIBUTIONS AND SALES	  			
			
	Section 2.1	 	Contribution of Seadrill Opco Sub LLC; Issuance of Company Units to Seadrill	  	 	7	  
	Section 2.2	 	Sale of Seadrill Canada Ltd	  	 	7	  
	Section 2.3	 	Sale of 51% of Seadrill Mobile Units (Nigeria) Ltd	  	 	7	  
	Section 2.4	 	Contribution of Seadrill Deepwater Drillship Ltd.; Issuance of Company Units to Seadrill	  	 	7	  
	Section 2.5	 	Contribution of Seadrill Vencedor Ltd.; Issuance of Company Units to Seadrill	  	 	8	  
	Section 2.6	 	Sale of Seadrill US Gulf LLC	  	 	8	  
	Section 2.7	 	Contribution of Seabras Rig Holdco Kft.; Issuance of Company Units to Seadrill; Issuance of Seadrill Capricorn Holdings Units to Seadrill and the Company	  	 	8	  
	Section 2.8	 	Proportionate Interests in Seadrill Operating	  	 	8	  
	Section 2.9	 	Proportionate Interests in Seadrill Capricorn Holdings	  	 	8	  
	Section 2.10	 	Conversion of Seadrill’s Interest in the Company	  	 	9	  
	Section 2.11	 	Conversion of the Seadrill Member’s Interest in the Company	  	 	9	  
			
		 	ARTICLE III	  			
		 	THE OFFERING AND CONCURRENT TRANSACTIONS	  			
			
	Section 3.1	 	The Offering	  	 	9	  
	Section 3.2	 	Use of the IPO Proceeds	  	 	9	  
	Section 3.3	 	Payment of Intercompany Obligations	  	 	10	  
			
		 	ARTICLE IV	  			
		 	ADDITIONAL TRANSACTION	  			
			
	Section 4.1	 	Exercise of the Over-Allotment Option	  	 	10	  
			
		 	ARTICLE V	  			
		 	REPRESENTATIONS AND WARRANTIES OF SEADRILL; DISCLAIMER	  			
			
	Section 5.1	 	Representations and Warranties	  	 	10	  
	Section 5.2	 	Disclaimer of Warranties	  	 	12	  
			
		 	ARTICLE VI	  			
		 	FURTHER ASSURANCES	  			
			
	Section 6.1	 	Further Assurances	  	 	13	  
	Section 6.2	 	Power of Attorney	  	 	13	  
			
		 	ARTICLE VII	  			
		 	MISCELLANEOUS	  			
			
	Section 7.1	 	Survival of Representations and Warranties	  	 	14	  
	Section 7.2	 	Taxes	  	 	14	  
	Section 7.3	 	Headings; References, Interpretation	  	 	14	  

							
	Section 7.4	 	Successors and Assigns	  	 	15	  
	Section 7.5	 	No Third Party Rights	  	 	15	  
	Section 7.6	 	Counterparts	  	 	15	  
	Section 7.7	 	Governing Law	  	 	15	  
	Section 7.8	 	Severability	  	 	15	  
	Section 7.9	 	Deed; Bill of Sale; Assignment	  	 	15	  
	Section 7.10	 	Amendment or Modification	  	 	15	  
	Section 7.11	 	Integration	  	 	16	  

  
 2 

 CONTRIBUTION AND SALE AGREEMENT 

This CONTRIBUTION AND SALE AGREEMENT (this “Agreement”), dated as of
[—], 2012 is made by and among Seadrill Limited, a Bermuda exempted company (“Seadrill”), Seadrill Partners LLC, a Marshall Islands limited liability company (the
“Company”), Seadrill Member LLC, a Marshall Islands limited liability company (the “Seadrill Member”), Seadrill Operating GP LLC, a Marshall Islands limited liability company
(“OPCO GP”), Seadrill Operating LP, a Marshall Islands limited partnership (“Seadrill Operating”), Seadrill Capricorn Holdings LLC, a Marshall Islands limited liability company
(“Seadrill Capricorn Holdings”), Seadrill Opco Sub LLC, a Marshall Islands limited liability company (“Seadrill Opco Sub”), Seadrill Americas Inc., a Texas corporation (“Seadrill
Americas”), Seadrill Offshore AS, a Norwegian company (“Seadrill Offshore”), and Seadrill UK Ltd., a United Kingdom private limited company (“Seadrill UK”). The above-named
entities are sometimes referred to in this Agreement each as a “Party” and collectively as the “Parties.” 
 RECITALS 
 WHEREAS, Seadrill and the Seadrill Member formed
the Company pursuant to the Marshall Islands Limited Liability Company Act of 1996 (the “Marshall Islands LLC Act”) for the purposes set forth in the Limited Liability Agreement of the Company, dated as of June 28,
2012 (the “Original LLC Agreement”); 
 WHEREAS, on the date hereof: 

 

	 	1.	Seadrill Member is a wholly-owned subsidiary of Seadrill; 

  

	 	2.	Seadrill owns a 98% limited liability company interest in the Company and the Seadrill Member owns a 2% limited liability company interest in the Company;

  

	 	3.	Seadrill Capricorn Holdings is a wholly-owned subsidiary of the Company; 

  

	 	4.	Seadrill Capricorn Ltd., a United Kingdom private limited company, is a wholly-owned subsidiary of Seadrill Capricorn Holdings; 

 

	 	5.	Seadrill US Gulf LLC, a Delaware limited liability company (“Seadrill US Gulf”), is a wholly-owned subsidiary of Seadrill
Americas that owns the drilling contract relating to the West Capricorn drilling rig, and is the charterer under the bareboat charter relating to the West Capricorn; 

 

	 	6.	Seadrill Opco Sub is a wholly-owned subsidiary of Seadrill; 

  

	 	7.	OPCO GP is a wholly-owned subsidiary of the Company; 

  

	 	8.	OPCO GP owns the non-economic (0%) general partner interest in Seadrill Operating; 

 

	 	9.	Seadrill owns 70% of the limited partner interests of Seadrill Operating and the Company owns 30% of the limited partner interests of Seadrill Operating;

	 	10.	Seadrill China Operations Ltd., a Luxembourg limited company and the owner of the West Aquarius drilling rig (“Seadrill China
Operations”), is a wholly owned subsidiary of Seadrill Opco Sub; 

  

	 	11.	Seabras Rig Holdco Kft., a Hungarian company and the owner of the West Capricorn drilling rig (“Seabras Rig Holdco”), is a wholly-owned
subsidiary of Seadrill; 

  

	 	12.	Seadrill Vencedor Ltd., a Bermuda exempted company and the owner of the West Vencedor drilling rig (“Seadrill Vencedor”), is a
wholly-owned subsidiary of Seadrill; 

  

	 	13.	Seadrill Canada Ltd., a Newfoundland company (“Seadrill Canada”), is a wholly-owned subsidiary of Seadrill Offshore; 

 

	 	14.	Seadrill Mobile Units (Nigeria) Ltd., a Nigerian company (“Seadrill Mobile Units”), is owned 100% by Seadrill; and 

 

	 	15.	Seadrill Deepwater Drillship Ltd., a Cayman Islands limited company and the owner of the West Capella drilling rig (“Seadrill
Drillship”), is owned 90% by Seadrill and 10% by Seadrill Mobile Units. 

 WHEREAS, pursuant
to this Agreement, each of the following will occur on the date that is two business days prior to the closing of the Offering (the “Initial Effective Time”): 

 

	 	1.	Seadrill contributes 100% of the limited liability company interests in Seadrill Opco Sub to the Company and Seadrill Operating, and the Company further contributes the
interest contributed to it to Seadrill Operating; 

  

	 	2.	Seadrill Offshore sells 100% of the equity interests in Seadrill Canada to Seadrill Opco Sub in exchange for an intercompany payment obligation (the
“Seadrill Canada Payment Obligation”); 

  

	 	3.	Seadrill UK sells 51% of the equity interest in Seadrill Mobile Units to Seadrill Opco Sub in exchange for an intercompany payment obligation (the “SMU
Payment Obligation”); 

  

	 	4.	Seadrill contributes 51% of the equity interests in Seadrill Drillship to the Company and Seadrill Operating, and the Company further contributes the interest
contributed to it to Seadrill Operating; 

  

	 	5.	Seadrill contributes 100% of the equity interests in Seadrill Vencedor to the Company and Seadrill Operating, and the Company further contributes the interest
contributed to it to Seadrill Operating; 

  
 2 

	 	6.	Seadrill Americas sells 100% of the limited liability company interests in Seadrill US Gulf to Seadrill Capricorn Holdings in exchange for an intercompany payment
obligation (the “Seadrill US Gulf Payment Obligation”); 

  

	 	7.	Seadrill contributes 100% of the equity interests in Seabras Rig Holdco to the Company and Seadrill Capricorn Holdings, and the Company further contributes the interest
contributed to it to Seadrill Capricorn Holdings; 

  

	 	8.	Seadrill exchanges its limited liability company interest in the Company for [—] common units and [—] subordinated units; and 

  

	 	9.	The Seadrill Member exchanges its limited liability company interest in the Company for the IDRs. 

WHEREAS, pursuant to this Agreement, each of the following will occur on the closing date of the Offering (the “Second
Effective Time”): 
  

	 	1.	The Company issues [—] common units to the public in an underwritten initial public offering (the
“Offering”) in exchange for $[—] million (the “IPO Proceeds”); 

 

	 	2.	The Company uses a portion of the IPO Proceeds to (a) pay underwriting discounts and commissions and structuring fees of
$[—] million and (b) other transaction expenses incurred in connection with the Offering of approximately $[—] million;

  

	 	3.	The Company contributes $[—] million of the IPO Proceeds to Seadrill Operating for further contribution by
Seadrill Operating to Seadrill Opco Sub to permit Seadrill Opco Sub to repay its obligations under the Seadrill Canada Payment Obligation and the SMU Payment Obligation; 

 

	 	4.	The Company contributes $[—] million of the IPO Proceeds to Seadrill Capricorn Holdings to permit Seadrill
Capricorn Holdings to repay its obligations under the Seadrill US Gulf Payment Obligation; and 

  

	 	5.	The Company distributes the remaining $[—] million of the IPO Proceeds to Seadrill in partial consideration
for the Company’s interest in each of Seadrill Operating and Seadrill Capricorn Holdings, as such companies are constituted following the contributions and sales by Seadrill and its affiliates at the Initial Effective Time as described above.

 AGREEMENT 
 NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby,
the Parties hereby agree as follows: 

  
 3 

 ARTICLE I 

DEFINITIONS 
 Section 1.1 Definitions. The following defined terms will have the meanings given below: 
 “Agreement” means this Contribution and Sale Agreement. 
 “Attorney-in-Fact” has the meaning set forth in Section 6.2. 
 “Commission” means the Securities and Exchange Commission. 
 “Common Unit” means a common unit representing a limited liability company interest in the Company having the rights set forth in the Operating Agreement. 

“Company” has the meaning set forth in the opening paragraph of this Agreement. 

“Conveying Party” or “Conveying Parties” has the meaning set forth in
Section 6.2. 
 “Firm Units” means the Common Units to be sold to the
Underwriters pursuant to the terms of the Underwriting Agreement, but does not include any Option Units. 

“IDRs” means the incentive distribution rights of the Company having the rights set forth in the
Operating Agreement. 
 “Initial Effective Time” means 8:00 a.m. prevailing Eastern
Time on the date that is two business days prior to the closing of the Offering. 

“Law” has the meaning set forth in Section 5.1(c). 

“Marshall Islands LLC Act” has the meaning set forth in the Recitals of this Agreement.

 “IPO Proceeds” has the meaning set forth in the Recitals of this Agreement.

 “Offering” has the meaning set forth in the Recitals of this Agreement. 

“OPCO GP” has the meaning set forth in the opening paragraph of this Agreement. 

  
 4 

 “Operating Agreement” means the First Amended and
Restated Operating Agreement of the Company, substantially in the form attached as Appendix A to the Registration Statement. 
 “Option Units” means the Common Units that the Company will agree to issue upon exercise of the Over-Allotment Option. 

“Original LLC Agreement” has the meaning set forth in the Recitals of this Agreement.

 “Over-Allotment Option” means a number of Common Units equal to 15% of the Firm
Units, which the Company will agree to sell to the Underwriters, at their option, to cover over-allotments in connection with the Offering. 
 “Party” or “Parties” has the meaning set forth in the opening paragraph of this Agreement. 

“Registration Statement” means the Registration Statement on Form F-1 filed with the
Commission (Registration No. 333-184023), as amended. 
 “Rig Financing Agreements”
means (i) the $550 million senior secured term loan and revolving credit facility relating to the West Capricorn, (ii) the $1.2 billion senior secured term loan relating, in part, to the West Vencedor and (iii) the $1.5
billion senior secured credit facility related in part to the West Capella and the West Aquarius. 

“Rig Owning Subsidiaries” means collectively Seabras Rig Holdco, Seadrill China Operations,
Seadrill Drillship and Seadrill Vencedor. 
 “Rigs” has the meaning set forth in
Section 5.1(d) 
 “Seabras Rig Holdco” has the meaning set forth in the
Recitals of this Agreement. 
 “Seadrill” has the meaning set forth in the opening
paragraph of this Agreement. 
 “Seadrill Americas” has the meaning set forth in the
opening paragraph of this Agreement. 
 “Seadrill Canada” has the meaning set forth in
the Recitals of this Agreement. 
 “Seadrill Canada Payment Obligation” has the meaning
set forth in the Recitals of this Agreement. 

  
 5 

 “Seadrill Capricorn Holdings” has the meaning set
forth in the opening paragraph of this Agreement. 
 “Seadrill China Operations” has the
meaning set forth in the Recitals of this Agreement. 
 “Seadrill Drillship” has the
meaning set forth in the Recitals of this Agreement. 
 “Seadrill Member” has the
meaning set forth in the opening paragraph of this Agreement. 
 “Seadrill Mobile Units”
has the meaning set forth in the Recitals of this Agreement. 
 “Seadrill Offshore” has
the meaning set forth in the opening paragraph of this Agreement. 
 “Seadrill Opco Sub”
has the meaning set forth in the opening paragraph of this Agreement. 
 “Seadrill
Operating” has the meaning set forth in the opening paragraph of this Agreement. 

“Seadrill UK” has the meaning set forth in the opening paragraph of this Agreement.

 “Seadrill US Gulf” has the meaning set forth in the Recitals of this Agreement.

 “Seadrill US Gulf Payment Obligation” has the meaning set forth in the Recitals
of this Agreement. 
 “Seadrill Vencedor” has the meaning set forth in the Recitals of
this Agreement. 
 “Second Effective Time” means 8:00 a.m. prevailing Eastern Time
on the date that is the closing date of the Offering. 
 “SMU Payment Obligation”
has the meaning set forth in the Recitals of this Agreement. 
 “Subordinated Unit”
means a subordinated unit representing a member interest in the Company having the rights set forth in the Operating Agreement. 

  
 6 

 “Transferred Subsidiaries” means collectively
Seadrill Opco Sub, Seadrill Canada, Seadrill US Gulf LLC and the Rig Owning Subsidiaries. 

“Underwriters” means the underwriting syndicate listed in the Underwriting Agreement. 

“Underwriting Agreement” means a firm commitment underwriting agreement to be entered into
between the Company and the underwriters named in the Registration Statement. 
 Capitalized terms used but not otherwise
defined herein shall have the meanings assigned to such terms in the Operating Agreement. 
 ARTICLE II 

THE PRE-OFFERING CONTRIBUTIONS AND SALES 
 As of the Initial Effective Time, the following transactions shall be completed in the order set forth below. 
 Section 2.1 Contribution of Seadrill Opco Sub LLC; Issuance of Company Units to Seadrill. Seadrill hereby contributes, assigns and transfers as capital contributions a proportionate part
of the limited liability company interest in Seadrill Opco Sub to the Company and the remaining proportionate part of such limited liability company interest to Seadrill Operating, and the Company hereby contributes, assigns and transfers as a
capital contribution the proportionate part of the limited liability company interest in Seadrill Opco Sub received from Seadrill to Seadrill Operating such that, immediately following the forgoing contributions, assignments and transfers, Seadrill
Operating owns 100% of the limited liability company interest in Seadrill Opco Sub. In consideration for the capital contribution by Seadrill to the Company described in the preceding sentence, the Company will issue 100 units to Seadrill.

 Section 2.2 Sale of Seadrill Canada Ltd. Seadrill Offshore hereby sells, assigns and transfers 100% of the equity
interest in Seadrill Canada to Seadrill Opco Sub in exchange for the Seadrill Canada Payment Obligation owed by Seadrill Opco Sub to Seadrill Offshore. 
 Section 2.3 Sale of 51% of Seadrill Mobile Units (Nigeria) Ltd. Seadrill UK hereby sells, assigns and transfers 51% of the equity interest in Seadrill Mobile Units to Seadrill Opco Sub in
exchange for the SMU Payment Obligation owed by Seadrill Opco Sub to Seadrill UK. 
 Section 2.4 Contribution
of Seadrill Deepwater Drillship Ltd.; Issuance of Company Units to Seadrill. Seadrill hereby contributes, assigns and transfers as capital contributions a proportionate part of the limited liability company interest in Seadrill Drillship
to the Company and the remaining proportionate part of such limited liability company interest to Seadrill Operating, and the Company hereby contributes, assigns and transfers as a capital contribution the proportionate part of the limited liability
company interest in Seadrill Drillship received from Seadrill to Seadrill Operating such that, immediately following the forgoing contributions, 

  
 7 

 
assignments and transfers, Seadrill Operating owns 51% of the limited liability company interest in Seadrill Drillship. In consideration for the capital contribution by Seadrill to the Company
described in the preceding sentence, the Company will issue 100 units to Seadrill. 
 Section 2.5 Contribution of
Seadrill Vencedor Ltd.; Issuance of Company Units to Seadrill. Seadrill hereby contributes, assigns and transfers as capital contributions a proportionate part of the limited liability company interest in Seadrill Vencedor to the Company and the
remaining proportionate part of such limited liability company interest to Seadrill Operating, and the Company hereby contributes, assigns and transfers as a capital contribution the proportionate part of the limited liability company interest in
Seadrill Vencedor received from Seadrill to Seadrill Operating such that, immediately following the forgoing contributions, assignments and transfers, Seadrill Operating owns 100% of the limited liability company interest in Seadrill Vencedor. In
consideration for the capital contribution by Seadrill to the Company described in the preceding sentence, the Company will issue 100 units to Seadrill. 
 Section 2.6 Sale of Seadrill US Gulf LLC. Seadrill Americas hereby sells, assigns and transfers 100% of the equity interest in Seadrill US Gulf to Seadrill Capricorn Holdings in exchange for
the Seadrill US Gulf Payment Obligation owed by Seadrill Capricorn Holdings to Seadrill Americas. 
 Section 2.7
Contribution of Seabras Rig Holdco Kft.; Issuance of Company Units to Seadrill; Issuance of Seadrill Capricorn Holdings Units to Seadrill and the Company. Seadrill hereby contributes, assigns and transfers as capital contributions a
proportionate part of the limited liability company interest in Seabras Rig Holdco to the Company and the remaining proportionate part of such limited liability company interest to Seadrill Capricorn Holdings, and the Company hereby contributes,
assigns and transfers as a capital contribution the proportionate part of the limited liability company interest in Seabras Rig Holdco received from Seadrill to Seadrill Capricorn Holdings such that, immediately following the forgoing contributions,
assignments and transfers, Seadrill Capricorn Holdings owns 100% of the limited liability company interest in Seabras Rig Holdco. In consideration for the capital contribution by Seadrill to the Company described in this Section 2.7, the
Company will issue 100 units to Seadrill. In consideration for the capital contributions by Seadrill and the Company to Seadrill Capricorn Holdings described in this Section 2.7, Seadrill Capricorn Holdings will issue 4,900 units to Seadrill
and 4,100 units to the Company (additional units will be issued to the Company as set forth in Section 3.2(c)). 

Section 2.8 Proportionate Interests in Seadrill Operating. The proportions of the limited liability company interests
contributed to Seadrill Operating by each of Seadrill and the Company under Sections 2.1, 2.4 and 2.5 are such that, following those contributions and the contribution of IPO proceeds described in Section 3.2(b) by the Company to Seadrill
Operating, Seadrill and the Company, respectively, will own 70% and 30% limited partner interests in Seadrill Operating. 

Section 2.9 Proportionate Interests in Seadrill Capricorn Holdings. The proportions of the limited liability company
interests contributed to Seadrill Capricorn Holdings by each of Seadrill and the Company under Section 2.7 are such that, following those contributions and the 

  
 8 

 
contribution of IPO proceeds described in Section 3.2(c) by the Company to Seadrill Capricorn Holdings, Seadrill and the Company, respectively, will own 49% and 51% limited liability company
interests in Seadrill Capricorn Holdings. 
 Section 2.10 Conversion of Seadrill’s Interest in the Company.
Seadrill hereby exchanges its limited liability company interest in the Company for [—] Common Units and [—] Subordinated Units. 

Section 2.11 Conversion of the Seadrill Member’s Interest in the Company. The Seadrill Member hereby exchanges its
limited liability company interest in the Company for the IDRs. 
 ARTICLE III 

THE OFFERING AND CONCURRENT TRANSACTIONS 
 After the consummation of the transactions occurring as of the Initial Effective Time as described in ARTICLE II, the following transactions shall be completed in the order set forth below as
of the Second Effective Time: 
 Section 3.1 The Offering. The Company issues
[—] Common Units to the public in the Offering pursuant to the Underwriting Agreement in exchange for the IPO Proceeds. 

Section 3.2 Use of the IPO Proceeds. 

(a) The Company will use a portion of the IPO Proceeds to pay (i) underwriting discounts and commissions and structuring fees of
$[—] million and (ii) other transaction expenses incurred in connection with the Offering of approximately $[—] million. 

(b) The Company will contribute $[—] million of the IPO Proceeds to Seadrill
Operating for further contribution to Seadrill Opco Sub to permit Seadrill Opco Sub to repay its obligations under the Seadrill Canada Payment Obligation and the SMU Payment Obligation. Seadrill Opco Sub will issue 100 units to Seadrill
Operating in exchange for this contribution. 
 (c) The Company will contribute
$[—] million of the IPO Proceeds to Seadrill Capricorn Holdings to permit Seadrill Capricorn Holdings to repay its obligations under the Seadrill US Gulf Payment Obligation. Seadrill
Capricorn Holdings will issue 1,000 units to the Company in exchange for this contribution. 
 (d) The Company distributes the
remaining $[—] million of the IPO Proceeds to Seadrill in partial consideration for the Company’s interest in each of Seadrill Operating and Seadrill Capricorn Holdings, as such
companies are constituted following the contributions and sales by Seadrill and its affiliates at the Initial Effective Time as described above. 

  
 9 

 Section 3.3 Payment of Intercompany Obligations.

 (a) In full satisfaction of its obligations, Seadrill Opco Sub will pay to Seadrill Offshore the entire amount of the
Seadrill Canada Payment Obligation. 
 (b) In full satisfaction of its obligations, Seadrill Opco Sub will pay to Seadrill UK
the entire amount of the SMU Payment Obligation. 
 (c) In full satisfaction of its obligations, Seadrill Capricorn
Holdings will pay to Seadrill Americas the entire amount of the Seadrill US Gulf Payment Obligation. 
 ARTICLE IV

 ADDITIONAL TRANSACTION 
 Section 4.1 Exercise of the Over-Allotment Option. The Parties agree that if the Underwriters exercise their Over-Allotment Option with respect to the Offering, the Company shall redeem Common
Units from Seadrill with the net proceeds therefrom after the Underwriters’ discount and commissions but before expenses; the number of Common Units redeemed will be equal to the number of Common Units for which the Underwriters exercise their
Over-Allotment Option. 
 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES OF SEADRILL; DISCLAIMER 
 Section 5.1
Representations and Warranties. Seadrill hereby represents and warrants that: 
 (a) Each of the Transferred Subsidiaries
has been duly formed or incorporated and is validly existing and in good standing under the laws of its respective jurisdiction of formation or incorporation and has all requisite power and authority to operate its assets and conduct its business as
described in the Registration Statement; 
 (b) The execution and delivery of this Agreement and all documents, instruments and
agreements required to be executed and delivered by it pursuant to this Agreement in connection with the completion of the transactions contemplated by this Agreement, have been duly authorized by all necessary action on its part, and this Agreement
has been duly executed and delivered by it and constitutes a legal, valid and binding obligation of it enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, liquidation, reorganization, reconstruction and
other similar laws of general application affecting the enforceability of remedies and rights of creditors and except that equitable remedies such as specific performance and injunction are in the discretion of a court; 

(c) The execution, delivery and performance by it of this Agreement will not conflict with or result in any violation of or constitute a
breach of any of the terms or provisions 

  
 10 

 
of, or result in the acceleration of any obligation under, or constitute a default under any provision of: (i) its or any Transferred Subsidiary’s articles of association, articles of
incorporation or bylaws or other organizational documents; (ii) any lien, encumbrance, security interest, pledge, mortgage, charge, other claim, bond, indenture, agreement, contract, franchise license, permit or other instrument or obligation
to which it or any Transferred Subsidiary is a party or is subject or by which any of its or any Transferred Subsidiary’s assets or properties may be bound; (iii) any applicable laws, statutes, ordinances, rules or regulations promulgated
by a governmental authority, orders of a governmental authority, judicial decisions, decisions of arbitrators or determinations of any governmental authority or court (“Laws”); or (iv) any drilling contract to which any
Transferred Subsidiary is a party or any material provision of any material contract to which it or any Transferred Subsidiary is a party or by which its or any Transferred Subsidiary’s assets are bound; 

(d) Except as have already been obtained or that will be obtained in the ordinary course of business, no consent, permit, approval or
authorization of, notice or declaration to or filing with any governmental authority or any other person, including those related to any environmental laws or regulations, is required in connection with the execution and delivery by it of this
Agreement or the consummation by it of the transactions contemplated hereunder, and any consents required for the transfer or assignment of the drilling contracts related to the West Aquarius, the West Capella, the West
Capricorn and the West Vencedor (the “Rigs”) have been duly obtained; 
 (e) All of the
issued and outstanding shares of capital stock of each Transferred Subsidiary are duly authorized and are validly issued in accordance with the articles of association, articles of incorporation or bylaws or other organizational documents of such
Transferred Subsidiary and are fully paid and non-assessable; 
 (f) Seadrill owns, directly or indirectly, all of the
outstanding shares of capital stock of each Transferred Subsidiary and has good and marketable title thereto, free and clear of all liens, encumbrances, security interests, pledges, mortgages, charges or other claims, other than those arising under
the Rig Financing Agreements; 
 (g) With the exception of the agreement to sell certain interests in Seadrill Mobile Units to
local Nigerian investors, there is no outstanding agreement, contract, option, commitment or other right or understanding in favor of, or held by, any person other than the Company to acquire the Transferred Subsidiaries or the assets of the
Transferred Subsidiaries, including the Rigs, that has not been waived; 
 (h) Correct and complete copies of the organizational
documents of each Transferred Subsidiary (as amended to the date of this Agreement) and each drilling contract to which any Transferred Subsidiary is a party have been made available to the Company; 

(i) Each such drilling contract is a valid and binding agreement of each contracting Transferred Subsidiary enforceable in accordance
with its terms and, to the knowledge of Seadrill, of all other parties thereto enforceable in accordance with its terms; 

  
 11 

 (j) As applicable, each Transferred Subsidiary has fulfilled all material obligations
required pursuant to its respective drilling contract to have been performed by it prior to the date of this Agreement and has not waived any material rights thereunder; and no material default or breach exists in respect thereof on its or any
Transferred Subsidiary’s part or, to its knowledge, any of the other parties thereto and, to its knowledge, no event has occurred which, after giving of notice or the lapse of time, or both, would constitute such a material default or breach;

 (k) Except for such liabilities, debts obligations, encumbrances, defects, restrictions or claims of a general nature and
magnitude that would arise in connection with the operation of drilling rigs of the same type as the Rigs in the ordinary course of business, there are no liabilities, debts or obligations of, encumbrances, defects or restrictions with respect to,
or claims against the Transferred Subsidiaries or any of the assets owned by the Transferred Subsidiaries, including the Rigs, other than those arising under or in connection with Rig Financing Agreements; and 

(l) Each Rig is (i) adequate and suitable for use by the applicable Transferred Subsidiary in such Transferred Subsidiary’s
business as presently conducted by it in all material respects as described in the Registration Statement, ordinary wear and tear excepted; (ii) in good running order and repair; (iii) insured against all risks, and in amounts, consistent
with common industry practices; (iv) in compliance with applicable laws and regulations; (v) duly registered under the flag set forth opposite such Rig’s name on Schedule A hereto; and (vi) in compliance in all
material respects with the requirements of its present class and classification society; and all class certificates of each Rig are clean and valid and free of recommendations affecting class. 

Section 5.2 Disclaimer of Warranties. EXCEPT TO THE EXTENT PROVIDED IN THIS AGREEMENT OR IN ANY OTHER DOCUMENT EXECUTED OR
DELIVERED IN CONNECTION WITH THIS AGREEMENT, THE PARTIES ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, DOES NOT MAKE, AND EACH SUCH PARTY SPECIFICALLY NEGATES AND DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS
OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT, REGARDING (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE ASSETS OWNED BY THE TRANSFERRED SUBSIDIARIES, INCLUDING,
WITHOUT LIMITATION, THE ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING, WITHOUT LIMITATION, THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES OR OTHER MATTERS ON SUCH ASSETS, (B) THE INCOME TO BE DERIVED FROM SUCH ASSETS, (C) THE
SUITABILITY OF SUCH ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON OR THEREWITH, (D) THE COMPLIANCE OF OR BY SUCH ASSETS OR THEIR OPERATION WITH ANY LAWS (INCLUDING WITHOUT LIMITATION ANY ZONING, ENVIRONMENTAL
PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (E) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF

  
 12 

 
SUCH ASSETS. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, EACH PARTY ACKNOWLEDGES AND AGREES THAT SUCH PARTY HAS HAD THE
OPPORTUNITY TO INSPECT THE ASSETS OF THE TRANSFERRED SUBSIDIARIES, AND SUCH PARTY IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE ASSETS OF THE TRANSFERRED SUBSIDIARIES AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY ANY OF THE OTHER
PARTIES. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING
TO THE ASSETS OF THE TRANSFERRED SUBSIDIARIES FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY. THIS SECTION SHALL SURVIVE THE CONTRIBUTION AND CONVEYANCE OF THE INTERESTS OR THE TERMINATION OF THIS AGREEMENT. THE PROVISIONS OF THIS SECTION
HAVE BEEN NEGOTIATED BY THE PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE ASSETS OF THE TRANSFERRED
SUBSIDIARIES THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT. 

ARTICLE VI 
 FURTHER ASSURANCES 
 Section 6.1 Further Assurances. From time
to time after the date of this Agreement, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances
and other documents, and will do all such other acts and things, all in accordance with applicable Law, as may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles,
interests, estates, remedies, powers and privileges granted by this Agreement, or which are intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and
record title to the interests contributed and assigned by this Agreement or intended so to be and (c) to more fully and effectively carry out the purposes and intent of this Agreement. 

Section 6.2 Power of Attorney. Each Party that has conveyed any Interests as reflected by this Agreement (collectively, the
“Conveying Parties”) hereby constitutes and appoints the [Seadrill Member] (the “Attorney-in-Fact”) its true and lawful attorney-in-fact with full power of substitution for it and in its name,
place and stead or otherwise on behalf of the applicable Conveying Party and its successors and assigns, and for the benefit of the Attorney-in-Fact to demand and receive from time to time the Interests contributed and conveyed by this Agreement (or
intended so to be) and to execute in the name of the applicable Conveying 

  
 13 

 
Party and its successors and assigns instruments of conveyance, instruments of further assurance and to give receipts and releases in respect of the same, and from time to time to institute and
prosecute in the name of the applicable Conveying Party for the benefit of the Attorney-in-Fact, any and all proceedings at law, in equity or otherwise which the Attorney-in-Fact may deem proper in order to (a) collect, assert or enforce any
claims, rights or titles of any kind in and to the Interests, (b) defend and compromise any and all actions, suits or proceedings in respect of any of the Interests, and (c) do any and all such acts and things in furtherance of this
Agreement as the Attorney-in-Fact shall deem advisable. Each Conveying Party hereby declares that the appointment hereby made and the powers hereby granted are coupled with an interest and are and shall be irrevocable and perpetual and shall not be
terminated by any act of any Conveying Party or its successors or assigns or by operation of law. 
 ARTICLE VII

 MISCELLANEOUS 
 Section 7.1 Survival of Representations and Warranties. The representations and warranties of Seadrill in this Agreement and in or under any documents, instruments and agreements delivered
pursuant to this Agreement, will survive the completion of the transactions contemplated hereby regardless of any independent investigations that the Company may make or cause to be made, or knowledge it may have, prior to the date of this Agreement
and will continue in full force and effect for a period of one year from the date of this Agreement. At the end of such period, such representations and warranties will terminate, and no claim may be brought by the Company against Seadrill
thereafter in respect of such representations and warranties, except for claims that have been asserted by the Company prior to the date of this Agreement. 
 Section 7.2 Taxes. The Company shall pay any and all sales, use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder, and shall pay all
documentary, filing, recording, transfer, deed, and conveyance taxes and fees required in connection therewith. 

Section 7.3 Headings; References, Interpretation. All Article and Section headings in this Agreement are for convenience only
and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, shall
refer to this Agreement as a whole, including, without limitation, all Schedules attached hereto, and not to any particular provision of this Agreement. All references herein to Articles, Sections and Schedules shall, unless the context requires a
different construction, be deemed to be references to the Articles and Sections of this Agreement and the Schedules attached hereto, and all such Schedules attached hereto are hereby incorporated herein and made a part hereof for all purposes. All
personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word “including” following
any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or

  
 14 

 
not non-limiting language (such as “without limitation,” “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer
to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. 
 Section 7.4 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. 

Section 7.5 No Third Party Rights. The provisions of this Agreement are intended to bind the Parties as to each other and are
not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies, and no person is or is intended to be a third party beneficiary of any of the provisions of this Agreement. 

Section 7.6 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all
signatory Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. The delivery of an executed counterpart copy of this Agreement by facsimile or electronic transmission in
PDF format shall be deemed to be the equivalent of delivery of the originally executed copy thereof. 
 Section 7.7
Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the state of New York, United States of America, applicable to contracts made and to be performed wholly within such jurisdiction without giving
effect to conflict of law principles thereof other than Section 5-1401 of the New York General Obligations Law, except to the extent that it is mandatory that the law of some other jurisdiction, wherein the Interests are located, shall apply.

 Section 7.8 Severability. If any of the provisions of this Agreement are held by any court of competent
jurisdiction to contravene, or to be invalid under, the laws of any governmental body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be
construed as if it did not contain the particular provision or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect, as nearly as possible, to the intention of the Parties as
expressed in this Agreement at the time of execution of this Agreement. 
 Section 7.9 Deed; Bill of Sale;
Assignment. To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the interests referenced herein. 

Section 7.10 Amendment or Modification. This Agreement may be amended or modified from time to time only by the written
agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an amendment to this Agreement. 

  
 15 

 Section 7.11 Integration. This Agreement and the instruments referenced herein
supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the entire understanding of the
Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a
written amendment hereto executed by the Parties after the date of this Agreement. 
 [THE REMAINDER OF THIS PAGE IS LEFT
INTENTIONALLY BLANK] 

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

			
	SEADRILL LIMITED
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL PARTNERS LLC,
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL MEMBER LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL OPERATING GP LLC
		
	By:	 	  

	Name:	 	  

		
	Title:	 	  

  

SIGNATURE PAGE 
 TO 
 CONTRIBUTION AND
SALE AGREEMENT 

 
			
	SEADRILL OPERATING LP
		
	By:	 	Seadrill Operating GP LLC, its general partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL CAPRICORN HOLDINGS LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL OPCO SUB LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL AMERICAS INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

SIGNATURE PAGE 
 TO 
 CONTRIBUTION AND
SALE AGREEMENT 

 
			
	
	SEADRILL OFFSHORE AS
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SEADRILL UK LTD.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

SIGNATURE PAGE 
 TO 
 CONTRIBUTION AND
SALE AGREEMENT 

 SCHEDULE A 

RIG OWNING SUBSIDIARIES AND RIGS 
  

							
	 Rig Owning Subsidiary
	  	Jurisdiction of
Registration	  	Rig	  	Flag
	 Seadrill China Operations Ltd.
	  	Luxembourg	  	West Aquarius	  	Panama
	 Seadrill Deepwater Drillship Ltd.
	  	Cayman Islands	  	West Capella	  	Panama
	 Seabras Rig Holdco Kft.
	  	Hungary	  	West Capricorn	  	Panama
	 Seadrill Vencedor Ltd.
	  	Luxembourg	  	West Vencedor	  	Panama

  

SCHEDULE A 
 TO 
 CONTRIBUTION AND
SALE AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]