Document:

EX-10.9

 Exhibit 10.9 

CONFORMED COPY 
  

 
  

500,000,000,000 Yen 
 SENIOR
SHORT-TERM LOAN FACILITY AGREEMENT 
 Dated as of October 26, 2018 

among 
 TAKEDA PHARMACEUTICAL
COMPANY LIMITED, 
 as Borrower, 

VARIOUS FINANCIAL INSTITUTIONS, 

as Lenders, 
 and 

SUMITOMO MITSUI BANKING CORPORATION, 

as Administrative Agent 
  

 
 SUMITOMO MITSUI BANKING CORPORATION
and MUFG BANK, LTD, 
 as Lead Arrangers and Bookrunners 

and 
 MIZUHO BANK, LTD, 

as Arranger and Bookrunner 
 and

 THE NORINCHUKIN BANK and SUMITOMO MITSUI TRUST BANK, LIMITED, 

as Arrangers 

 CONFORMED COPY 
  

TABLE OF CONTENTS 
  

									
	 	 	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
				
		 	 SECTION 1.01
	 	Certain Defined Terms	  	 	1	 
				
		 	 SECTION 1.02
	 	Computation of Time Periods	  	 	21	 
				
		 	 SECTION 1.03
	 	Accounting Terms	  	 	21	 
				
		 	 SECTION 1.04
	 	Terms Generally	  	 	21	 
				
		 	 SECTION 1.05
	 	Jersey Terms	  	 	21	 
				
		 	 SECTION 1.06
	 	Currency Translations	  	 	22	 
		
	 ARTICLE II AMOUNTS AND TERMS OF THE ADVANCE
	  	 	22	 
				
		 	 SECTION 2.01
	 	The Advance	  	 	22	 
				
		 	 SECTION 2.02
	 	Making the Advance	  	 	22	 
				
		 	 SECTION 2.03
	 	[Reserved]	  	 	23	 
				
		 	 SECTION 2.04
	 	Fees	  	 	23	 
				
		 	 SECTION 2.05
	 	Termination or Reduction of the Commitments	  	 	24	 
				
		 	 SECTION 2.06
	 	Repayment of the Advance	  	 	24	 
				
		 	 SECTION 2.07
	 	Interest on the Advance	  	 	25	 
				
		 	 SECTION 2.08
	 	Interest Rate Determination	  	 	26	 
				
		 	 SECTION 2.09
	 	[Reserved]	  	 	27	 
				
		 	 SECTION 2.10
	 	Optional Prepayments of the Advance	  	 	27	 
				
		 	 SECTION 2.11
	 	Increased Costs	  	 	27	 
				
		 	 SECTION 2.12
	 	Illegality	  	 	28	 
				
		 	 SECTION 2.13
	 	Payments and Computations	  	 	29	 
				
		 	 SECTION 2.14
	 	Taxes	  	 	30	 
				
		 	 SECTION 2.15
	 	Sharing of Payments, Etc	  	 	33	 
				
		 	 SECTION 2.16
	 	Use of Proceeds	  	 	33	 
				
		 	 SECTION 2.17
	 	Evidence of Debt	  	 	33	 
				
		 	 SECTION 2.18
	 	[Reserved]	  	 	33	 
				
		 	 SECTION 2.19
	 	Defaulting Lenders	  	 	33	 
				
		 	 SECTION 2.20
	 	Mitigation	  	 	34	 
		
	 ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING
	  	 	35	 
				
		 	 SECTION 3.01
	 	Conditions Precedent to Effective Date	  	 	35	 
				
		 	 SECTION 3.02
	 	Conditions Precedent to Closing Date	  	 	36	 

  
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	 	 	 	 	 	  	Page	 
		 	SECTION 3.03	 	Conditions to the Advance after the Closing Date	  	 	38	 
				
		 	SECTION 3.04	 	Actions by Lenders During the Certain Funds Period	  	 	38	 
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	39	 
				
		 	SECTION 4.01	 	Representations and Warranties of the Borrower	  	 	39	 
				
		 	SECTION 4.02	 	Representations and Warranties of the Lenders and the Borrower	  	 	42	 
		
	 ARTICLE V COVENANTS
	  	 	43	 
				
		 	SECTION 5.01	 	Affirmative Covenants	  	 	43	 
				
		 	SECTION 5.02	 	Negative Covenants	  	 	49	 
				
		 	SECTION 5.03	 	Financial Covenant	  	 	52	 
		
	 ARTICLE VI EVENTS OF DEFAULT
	  	 	52	 
				
		 	SECTION 6.01	 	Events of Default	  	 	52	 
		
	 ARTICLE VII THE AGENTS
	  	 	55	 
				
		 	SECTION 7.01	 	Authorization and Action	  	 	55	 
				
		 	SECTION 7.02	 	Administrative Agent Individually	  	 	55	 
				
		 	SECTION 7.03	 	Duties of Administrative Agent; Exculpatory Provisions	  	 	55	 
				
		 	SECTION 7.04	 	Reliance by Administrative Agent	  	 	56	 
				
		 	SECTION 7.05	 	Delegation of Duties	  	 	56	 
				
		 	SECTION 7.06	 	Resignation of Administrative Agent	  	 	57	 
				
		 	SECTION 7.07	 	Non-Reliance on Administrative Agent and Other Lenders	  	 	57	 
				
		 	SECTION 7.08	 	Indemnification	  	 	58	 
				
		 	SECTION 7.09	 	Other Agents	  	 	58	 
		
	 ARTICLE VIII [RESERVED]
	  	 	58	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	58	 
				
		 	SECTION 9.01	 	Amendments, Etc.	  	 	58	 
				
		 	SECTION 9.02	 	Notices, Etc.	  	 	59	 
				
		 	SECTION 9.03	 	No Waiver; Remedies	  	 	60	 
				
		 	SECTION 9.04	 	Costs and Expenses	  	 	61	 
				
		 	SECTION 9.05	 	Right of Setoff	  	 	62	 
				
		 	SECTION 9.06	 	Binding Effect	  	 	63	 
				
		 	SECTION 9.07	 	Assignments and Participations	  	 	63	 
				
		 	SECTION 9.08	 	Confidentiality	  	 	67	 
				
		 	SECTION 9.09	 	Debt Syndication during the Certain Funds Period	  	 	67	 
				
		 	SECTION 9.10	 	Governing Law	  	 	67	 

  
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		 	SECTION 9.11	 	Execution in Counterparts	  	 	68	 
				
		 	SECTION 9.12	 	Jurisdiction, Etc	  	 	68	 
				
		 	SECTION 9.13	 	Patriot Act Notice	  	 	68	 
				
		 	SECTION 9.14	 	No Advisory or Fiduciary Responsibility	  	 	69	 
				
		 	SECTION 9.15	 	Waiver of Jury Trial	  	 	69	 
				
		 	SECTION 9.16	 	Conversion of Currencies	  	 	69	 
				
		 	SECTION 9.17	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	70	 
				
		 	SECTION 9.18	 	Certain ERISA Matters	  	 	70	 
				
		 	SECTION 9.19	 	Interest Rate Limitation	  	 	72	 
				
		 	SECTION 9.20	 	English Language	  	 	72	 

  

					
	SCHEDULES	 		  	
			
	 Schedule I
	 	-	  	 Commitments

	 Schedule II
	 	 -
	  	 Administrative Agent’s Office; Certain Addresses for Notices

	
	EXHIBITS
			
	 Exhibit A
	 	 -
	  	 Form of Notice of Borrowing

	 Exhibit B
	 	 -
	  	 Form of Assignment and Acceptance

	 Exhibit C
	 	 -
	  	 Form of Compliance Certificate

  
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SENIOR SHORT TERM LOAN FACILITY AGREEMENT 

This Senior Short-Term Loan Facility Agreement (this “Agreement”) dated as of October 26, 2018 is among
Takeda Pharmaceutical Company Limited, a joint-stock company organized and existing under the laws of Japan (the “Borrower”), the Lenders (as defined below) that are parties hereto, and Sumitomo Mitsui Banking Corporation, as
Administrative Agent (as defined below) for the Lenders. 
 RECITALS 

WHEREAS, the Borrower intends to directly or indirectly acquire (the “Target Acquisition”) pursuant to the
Offer Documents or Scheme Documents, as applicable (each as defined below) all of the outstanding shares of the Target which are subject to the Scheme or Takeover Offer (as the case may be), which acquisition will be effected pursuant to a Scheme or
a Takeover Offer (each as defined below). 
 WHEREAS, in connection with the Target Acquisition, the Borrower has requested
that the Lenders extend credit to the Borrower in the form of term loans in an aggregate principal amount not to exceed 500,000,000,000 Yen with the proceeds to be applied towards the Certain Funds Purposes (as defined below). 

IN CONSIDERATION THEREOF the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS AND
ACCOUNTING TERMS 
 SECTION 1.01        Certain Defined Terms. 

As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to
both the singular and plural forms of the terms defined): 
 “Acceptance Condition” means,
in respect of a Takeover Offer, the condition to the Takeover Offer with respect to the number of acceptances to the Takeover Offer which must be secured to declare the Takeover Offer unconditional as to acceptances (as set out in the Offer Press
Announcement. 
 “Acquisition” means any acquisition (whether by purchase, merger,
consolidation or otherwise) or series of related acquisitions by the Parent or any Subsidiary after the Effective Date of (i) at least a majority of the assets of (or at least a majority of the assets constituting a business unit, division,
product line or line of business of) any Person, or (ii) at least the majority of the Equity Interests in a Person or division or line of business of a Person. 

“Administrative Agent” means Sumitomo Mitsui Banking Corporation (including its branches and
affiliates), in its capacity as administrative agent for the Lenders hereunder, together with any successor thereto appointed pursuant to Article VII, the “Administrative Agent”. 

“Administrative Agent’s Office” means the Administrative Agent’s address as set
forth on Schedule II, or such other address as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 

“Administrative Questionnaire” means an administrative questionnaire in the form supplied by
the Administrative Agent. 
 “Advance” means the advance by a Lender pursuant to its
Commitment to the Borrower as part of the Borrowing. 

  
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“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly,
controls, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, the term “control” (including the terms “controlling”, “controlled by”
and “under common control with”) of a Person means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Stock, by contract
or otherwise. 
 “Agent Parties” has the meaning set forth in Section 9.02(b). 

“Agents” means, collectively, the Administrative Agent, the Lead Arrangers and the Arranger.

 “Agreement” has the meaning set forth in the introduction hereto. 

“Agreement Currency” has the meaning set forth in Section 9.16. 

“Agreement Value” means, with respect to any Hedge Agreement at any date of determination,
the amount, if any, that would be payable to any counterparty thereunder in respect of the “agreement value” under such Hedge Agreement if such Hedge Agreement were terminated on such date, calculated as provided in the International Swap
Dealers Association, Inc. Code of Standard Wording, Assumptions and Provisions for Swaps, 1986 Edition. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable
to the Borrower or any of its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Anti-Social Conduct” means (i) a demand and conduct with force and arms; (ii) an
unreasonable demand and conduct having no legal cause; (iii) threatening or committing violent behavior relating to its business transactions; (iv) an action to defame the reputation or interfere with the business of any Lender by
spreading rumor, using fraudulent means or resorting to force; or (v) other actions similar or analogous to any of the foregoing in any jurisdiction. 

“Anti-Social Group” means (i) an organized crime group (as defined in the Law relating
to Prevention of Unjustifiable Acts by Gang Members of Japan (Law No. 77 of 1991, as amended)); (ii) a member of an organized crime group; (iii) a person who used to be a member of an organized crime group but has only ceased to be a
member of an organized crime group for a period of less than 5 years; (iv) quasi-member of an organized crime group; (v) a related or associated company of an organized crime group; (vi) a corporate racketeer or blackmailer advocating
social cause or a special intelligence organized crime group; or (vii) a member of any other criminal force similar or analogous to any of the foregoing in any jurisdiction. 

“Anti-Social Relationship” means in relation a Person, (i) an Anti-Social Group controls
its management; (ii) an Anti-Social Group is substantively involved in its management; (iii) it has entered into arrangements with an Anti-Social Group for the purpose of, or which have the effect of, unfairly benefiting itself or a third
party or prejudicing a third party; (iv) it is involved in the provision of funds or other benefits to an Anti-Social Group; or (v) any of its directors or any other person who is substantively involved in its management has a socially
objectionable relationship with an Anti-Social Group. 
 “Applicable Creditor” has the
meaning set forth in Section 9.16. 
 “Applicable Lending Office” means, with respect
to any Lender, the office of such Lender specified as its “Applicable Lending Office” or similar concept in its Administrative Questionnaire or in the Assignment and Acceptance pursuant to which it became a Lender, or such other office,
branch, Subsidiary or affiliate of such Lender as such Lender may from time to time specify to the Borrower and the Administrative Agent. 

  
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“Applicable Margin” means 0.10%. 

“Arrangers” means Mizuho Bank, Ltd., The Norinchukin Bank and Sumitomo Mitsui Trust Bank,
Limited. 
 “Assignment and Acceptance” means an assignment and acceptance entered into by
a Lender and an Eligible Assignee, and accepted by the Administrative Agent, in substantially the form of Exhibit B hereto (or such other form as is agreed upon by the Borrower and the Administrative Agent). 

“Availability Period” means the period starting on the Closing Date and ending on the
Commitment Termination Date. 
 “Bail-In Action” means the exercise of any Write-Down and
Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55
of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in
Section 3(3) of ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to which Section 4975 of the Code applies, and (c) any Person whose assets include (for purposes of
the Plan Asset Regulations or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“Board” means the Board of Governors of the Federal Reserve System of the United States of
America. 
 “Borrowed Debt” means any Debt for money borrowed, including loans, hybrid
securities, debt convertible into Equity Interests and any Debt represented by notes, bonds, debentures or other similar evidences of Debt for money borrowed. 

“Borrower” has the meaning set forth in the recitals of this Agreement. 

“Borrower Materials” has the meaning specified in Section 5.01. 

“Borrowing” means the borrowing consisting of a simultaneous Advance of the same Type made by
each of the Lenders to the Borrower pursuant to Section 2.01. 
 “Borrowing Minimum”
means 100,000,000 Yen. 
 “Borrowing Multiple” means an integral multiple of 100,000,000
Yen. 
 “Bridge Credit Agreement” has the meaning specified in the definition of
“Bridge Facility”. 
 “Bridge Facility” means the commitments and any advances
made under the 364-Day Bridge Credit Agreement, dated as of May 8, 2018 (the “Bridge Credit Agreement”), among Takeda Pharmaceutical Company Limited, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative
agent. 
 “Bridge Facility Effective Date” means May 8, 2018. 

  
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“Business Day” means any day other than a Saturday, Sunday or other day on which commercial
banks are authorized to close under the laws of, or are in fact closed in Tokyo and any day on which dealings in Yen are conducted by and between banks in the Japan interbank Yen market. 

“CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability
Information System maintained by the U.S. Environmental Protection Agency. 
 “Certain Funds
Default” means an Event of Default arising from any of the following (other than in respect of any Subsidiary of the Borrower, the Target or any Subsidiary of the Target, or a breach of a procurement obligation with respect to any
Subsidiary of the Borrower, the Target or any Subsidiary of the Target): 
  

	 	(i)	 Section 6.01(a) (in so far as it relates to payment of principal and/or interest);

  

	 	(ii)	 Section 6.01(b) as it relates to a Certain Funds Representation; 

 

	 	(iii)	 Section 6.01(c) as it relates to the failure to perform any of the following covenants:
(A) Sections 5.01(d)(i) or (j) (other than paragraph (ix), (x) and (xii) thereof) or (B) Sections 5.02(a), (b) or (d); 

  

	 	(iv)	 Section 6.01(e) in relation to the Borrower, but excluding, in relation to involuntary proceedings
referenced therein, any Event of Default caused by a frivolous or vexatious action, proceeding or petition in respect of which no order or decree in respect of such involuntary proceeding shall have been entered; or 

 

	 	(v)	 Section 6.01(i). 

“Certain Funds Period” means the period commencing on the Effective Date and ending on the
date on which a Mandatory Cancellation Event occurs, for the avoidance of doubt, on such date but immediately after the relevant Mandatory Cancellation Event occurs or first exists. 

“Certain Funds Purposes” means: 

 

	 	(i)	 where the Target Acquisition proceeds by way of a Scheme: 

 

	 	(a)	 payment (directly or indirectly) of the cash price payable by the Borrower to the holders of the Scheme
Shares in consideration of the acquisition of such Scheme Shares pursuant to the Scheme; 

  

	 	(b)	 financing (directly or indirectly) the consideration payable to holders of options to acquire Target Shares
pursuant to any proposal in respect of those options as required by the City Code; 

  

	 	(c)	 financing (directly or indirectly) the fees, costs and expenses in respect of the Transactions; and

  

	 	(d)	 repayment of certain Existing Target Indebtedness (which the Borrower may from time to time elect); or

  

	 	(ii)	 where the Target Acquisition proceeds by way of a Takeover Offer: 

 

	 	(a)	 payment (directly or indirectly) of all or part of the cash price payable by the Borrower to the holders of
the Target Shares subject to the Takeover Offer in consideration of the acquisition of such Target Shares pursuant to the Takeover Offer; 

  
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	 	(b)	 payment (directly or indirectly) of the cash consideration payable to the holders of Target Shares pursuant
to the operation by Borrower of the procedures contained in Articles 117 and 121 of the Jersey Companies Law; 

  

	 	(c)	 financing (directly or indirectly) the consideration payable to holders of options to acquire Target Shares
pursuant to any proposal in respect of those options as required by the City Code; 

  

	 	(d)	 financing (directly or indirectly) the fees, costs and expenses in respect of the Transactions; and

  

	 	(e)	 repayment of certain Existing Target Indebtedness (which the Borrower may from time to time elect).

 “Certain Funds Representations” means each of the following:
(1) Sections 4.01(a), (b)(i), (b)(ii) and (b)(iii); (2) Section 4.01(c) and (d); (3) Section 4.01(q); and (4) Section 4.01(t), (u)(ii) and (v) (but only to the extent they relate to the then current actual
method of the Target Acquisition), in each case only insofar as it relates to the Borrower (excluding, for the avoidance of doubt, any Subsidiary of the Borrower, Target or any Subsidiary of Target). 

“Charges” has the meaning specified in Section 9.19. 

“City Code” means the City Code on Takeovers and Mergers applicable, inter alia, to takeovers
of listed companies in the United Kingdom and to Jersey listed companies pursuant to the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009. 

“Clean-up Date” has the meaning set forth in Section 6.01. 

“Closing Date” means the date on which each of the conditions set forth in Section 3.02
have been satisfied (or waived in accordance with Section 9.01). 
 “Code” means the
Internal Revenue Code of 1986, as amended from time to time. 
 “Commitment” means, as to
any Lender, the commitment of such Lender to make the Advance pursuant to Section 2.01(a), as such commitment may be reduced from time to time pursuant to the terms hereof. The initial amount of each Lender’s Commitment is (a) the
amount set forth in the column labeled “Commitment” opposite such Lender’s name on Schedule I hereto, or (b) if such Lender has entered into any Assignment and Acceptance, the amount set forth for such Lender in the Register
maintained by the Administrative Agent pursuant to Section 9.07(d), as such amount may be reduced pursuant to Section 2.05. As of the Effective Date, the aggregate amount of the Commitments is 500,000,000,000 Yen as such amount may be
reduced in accordance with Section 2.05 or 6.01. 
 “Commitment Termination Date”
means the date on which a Mandatory Cancellation Event occurs, for the avoidance of doubt, on such date but immediately after the relevant Mandatory Cancellation Event occurs or first exists. 

“Consolidated” refers to the consolidation of accounts in accordance with IFRS. 

“Consolidated EBITDA” means, for any fiscal period, the Consolidated net profit of the
Consolidated Group for such period determined in accordance with IFRS plus the following, to the extent deducted in calculating such Consolidated net profit: (a) the provision for Federal, state, local and foreign taxes based on income,
profits, revenue, business activities, capital or similar measures payable by the Consolidated Group 

  
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in each case, as set forth on the financial statements of the Consolidated Group, (b) share of loss of investments
accounted for using the equity method, (c) Consolidated Interest Expense and dividend expense, (d) any losses (including all fees and expenses or charges relating thereto) on the retirement of debt, (e) any extraordinary, unusual,
nonrecurring or non-cash impairments, charges, expenses or losses (including impairments, charges, fees, expenses and losses incurred in connection with the Transactions or any issuance of Debt or equity, acquisitions, investments, restructuring
activities, asset sales or divestitures permitted hereunder, purchase accounting effects, derivatives transactions and other finance expenses and other operating expenses), (f) non-cash stock option expenses, non-cash equity-based compensation
and/or non-cash expenses related to stock-based compensation, (g) any foreign currency exchange losses, (h) losses (including all fees and expenses or charges relating thereto) on sales of assets outside of the ordinary course of business
and losses from discontinued operations and (i) depreciation and amortization expense and minus, to the extent included in calculating such Consolidated net profit for such period, the sum of (i) share of profit of investments accounted
for using the equity method, (ii) interest and dividend income, (iii) any gains (less all fees and expenses or charges relating thereto) on the retirement of debt, (iv) any extraordinary, unusual, nonrecurring or non-cash income
(including other finance income ), (v) gains (less all fees and expenses or charges relating thereto) on the sales of assets outside of the ordinary course of business and gains from discontinued operations (without duplication of any amounts
added back in clause (a) of this definition) and (vi) any foreign currency exchange gains, all as determined on a Consolidated basis. Consolidated EBITDA will be calculated on a pro forma basis as if the Transactions and any related
incurrence or repayment of Debt by any member of the Consolidated Group had occurred on the first day of the relevant period, but shall not take into account any cost savings or synergies projected to be realized as a result of such acquisition or
disposition other than cost savings or cost synergies that are factually supportable and quantifiable pro forma cost savings or expense reductions related to operational efficiencies (including the entry into any material contract or arrangement),
strategic initiatives or purchasing improvements and other cost savings, improvements or cost synergies, in each case, that have been realized, or are reasonably expected to be realized, by any member of the Consolidated Group based upon actions to
be taken within 12 months after the consummation of the action as if such cost savings, expense reductions, improvements and cost synergies occurred on the first day of the relevant period; provided that the aggregate amount of such cost
savings and cost synergies, together with any cost savings and cost synergies included in the calculation of Consolidated EBITDA pursuant to the immediately succeeding sentence, shall not exceed, for any such fiscal period, ten percent (10%) of
Consolidated EBITDA for such period (as calculated without giving effect this sentence or the immediately succeeding sentence). In addition, in the event that any member of the Consolidated Group acquired or disposed of any Person, business unit or
line of business or made any investment during the relevant period, Consolidated EBITDA will be determined giving pro forma effect to such acquisition, disposition or investment as if such acquisition, disposition or investment and any related
incurrence or repayment of Debt had occurred on the first day of the relevant period, but shall not take into account any cost savings or synergies projected to be realized as a result of such acquisition or disposition other than cost savings or
cost synergies that are factually supportable and quantifiable pro forma cost savings or expense reductions related to operational efficiencies (including the entry into any material contract or arrangement), strategic initiatives or purchasing
improvements and other cost savings, improvements or cost synergies, in each case, that have been realized, or are reasonably expected to be realized, by any member of the Consolidated Group based upon actions to be taken within 12 months after the
consummation of the action as if such cost savings, expense reductions, improvements and cost synergies occurred on the first day of the relevant period; provided that the aggregate amount of such cost savings and cost synergies, together
with any cost savings and cost synergies included in the calculation of Consolidated EBITDA pursuant to the immediately preceding sentence, shall not exceed, for any such fiscal period, ten percent (10%) of Consolidated EBITDA for such period
(as calculated without giving effect this sentence or the immediately preceding sentence). 

  
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“Consolidated Group” means, prior to the consummation of the Target Acquisition, the Borrower
and its Subsidiaries (excluding the Target and its Subsidiaries) and thereafter, the Borrower and its Subsidiaries (including the Target and its Subsidiaries). 

“Consolidated Interest Expense” means, for any fiscal period, the total interest expense of
the Consolidated Group on a Consolidated basis determined in accordance with IFRS, including the imputed interest component of capitalized lease obligations during such period, and all commissions, discounts and other fees and charges owed with
respect to letters of credit, if any, and net costs under Hedge Agreements; provided that if any member of the Consolidated Group acquired or disposed of any Person or line of business during the relevant period (including for the avoidance
of doubt the Transactions), Consolidated Interest Expense will be determined giving pro forma effect to any incurrence or repayment of Debt related to such acquisition or disposition as if such incurrence or repayment of Debt had occurred on the
first day of the relevant period. 
 “Consolidated Net Assets” means the aggregate amount
of assets (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities, as set forth on the Consolidated balance sheet of the Consolidated Group most recently furnished to the Lenders pursuant to
Section 5.01(i)(ii) prior to the time as of which Consolidated Net Assets shall be determined. 

“Consolidated Net Debt” means, as of any date of determination, the aggregate amount of
Borrowed Debt of the Consolidated Group determined on a Consolidated basis as of such date, minus all unrestricted cash and cash equivalents of the Consolidated Group. 

“Consolidated Tangible Assets” means, as of any date of determination thereof, Consolidated
Total Assets minus, without duplication, (x) the Intangible Assets of the Consolidated Group and (y) goodwill of the Consolidated Group, in each case on such date. 

“Consolidated Total Assets” means, as of the date of any determination thereof, total assets
of the Consolidated Group calculated in accordance with IFRS on a consolidated basis as of such date. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. The terms “Controlling” and “Controlled” have meanings correlative thereto. 

“Conversion”, “Convert”, or “Converted” each refers to a
conversion of the Advance of one Type into an Advance of the other Type pursuant to Section 2.08 or 2.12. 

“Cost of Funds Rate Advance” means an Advance that bears interest as provided in
Section 2.07(a)(i). 
 “Cost of Funds Rate” means the weighted average of the rates
notified to the Administrative Agent by each Lender as soon as practicable and in any event not later than 10:00 A.M. (Tokyo time) one Business Day prior to the first day of the Interest Period applicable to a Cost of Funds Advance (or, if earlier,
10:00 A.M. (Tokyo time) in the date falling one Business Day before the date on which interest is due to be paid in respect of the Advance), to be that which expresses as a percentage rate per annum the cost to the relevant Lender of funding
its Advance from whatever source it may reasonably select; provided that if any Lender does not supply a quotation by the time specified in this definition, the Cost of Funds Rate shall be calculated on the basis of the quotations of the other
Lenders that have so supplied a quotation. 
 “Court” means the Royal Court of Jersey. 

  
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“Court Meeting” means the meeting or meetings of Scheme Shareholders (or any adjournment
thereof) to be convened by order of the Court under Article 125(1) of the Jersey Companies Law for the purposes of considering and, if thought fit, approving the Scheme. 

“Court Order” means the Act of Court sanctioning the Scheme under Article 125(2) of the
Jersey Companies Law. 
 “Credit Party” means the Administrative Agent or any Lender. 

“Debt” of any Person means, without duplication, (a) all indebtedness of such Person for
borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services that would appear as a liability on the balance sheet of such Person prepared in accordance with IFRS (other than trade payables incurred
in the ordinary course of such Person’s business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all obligations of such Person created or arising under any conditional sale
or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property),
(e) all obligations of such Person as lessee under leases that have been or should be, in accordance with IFRS, recorded as capital leases, (f) all obligations, contingent or otherwise, of such Person in respect of acceptances, letters of
credit or similar extensions of credit, (g) all obligations of such Person in respect of Hedge Agreements, (h) all Debt of others referred to in clauses (a) through (g) above or clause (i) below directly guaranteed in any
manner by such Person, or the payment of which is otherwise provided for by such Person, and (i) all Debt referred to in clauses (a) through (h) above secured by any Lien on property (including, without limitation, accounts and
contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Debt; provided, however, that the amount of such Debt will be the lesser of (x) the fair market value of such asset
at such date of determination and (y) the amount of such other Debt. 
 “Debtor Relief
Laws” means the Bankruptcy Code of the United States of America, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or
similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect. 

“Default” means any Event of Default or any event that would constitute an Event of Default
but for the requirement specified in Article VI that notice be given or time elapse or both. 

“Default Interest” has the meaning specified in Section 2.07(b). 

“Defaulting Lender” means, subject to Section 2.19(b), any Lender that (a) has
failed to (i) fund all or any portion of its Advance within two Business Days of the date such Advance was required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the
result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or
(ii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, (b) has notified the Borrower or the Administrative Agent in writing that it does
not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund the Advance hereunder and states that such position
is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied),
(c) has failed, within three Business Days after written request by the Administrative Agent or the 

  
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Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding
obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct
or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar
Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (iii) become the subject of a
Bail-in Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so
long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such
Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses
(a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.19(b)) upon delivery of written notice of such determination to the Borrower
and each Lender. 
 “Disclosure Letter” means that certain Disclosure Letter dated as of
the Effective Date from the Borrower to the Lead Arrangers and the Arrangers. 
 “Dollar
Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount in any currency other than Dollars, the equivalent in Dollars of such amount, calculated on the
basis of the Exchange Rate pursuant to Section 1.06 using the Exchange Rate with respect to such currency at the time in effect pursuant to the provisions of such Section 1.06. 

“Dollars” and the “$” sign each means lawful currency of the United States.

 “EEA Financial Institution” means (a) any institution established in any EEA Member
Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution
established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland,
Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative
authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date on which the conditions set forth in Section 3.01 are
satisfied (or waived in accordance with Section 9.01). 
 “Eligible Assignee” means
(a) a Lender; (b) an Affiliate of a Lender; (c) a commercial bank organized under the laws of the United States, or any State thereof, and having total assets in excess of $10,000,000,000; (d) a commercial bank organized under
the laws of any other country that is a member of the Organization for Economic Cooperation and Development or has concluded special lending arrangements with the International Monetary Fund associated with its General Arrangements to Borrow, or

  
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a political subdivision of any such country, and having total assets in excess of $10,000,000,000, so long as such bank is
acting through a branch or agency located in the country in which it is organized or another country that is described in this clause (d); and (e) any other Person approved by the Administrative Agent and, so long as no Event of Default has
occurred and is continuing, by the Borrower, such approval not to be unreasonably withheld or delayed; provided, however, that no Defaulting Lender (or Person who would be a Defaulting Lender upon becoming a Lender) nor the Borrower
nor any Affiliate of the Borrower shall qualify as an Eligible Assignee. 
 “Environmental
Action” means any action, suit, demand, demand letter, claim, notice of noncompliance or violation, notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any
Environmental Law, Environmental Permit or Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for
enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or regulatory authority or any third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief.

 “Environmental Law” means any applicable federal, state, local or foreign statute; law
(including common law); ordinance; rule; regulation; code; final and binding court order, judgment, decree or judicial or agency interpretation, policy or guidance; or agency order relating to pollution or protection of the environment, health,
safety or natural resources, including, without limitation, those relating to the use, handling, transportation, treatment, storage, disposal, release or discharge of Hazardous Materials. 

“Environmental Permit” means any permit, approval, identification number, license or other
authorization required under any Environmental Law. 
 “Equity Interests” means shares of
capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest. 
 “ERISA” means the Employee Retirement
Income Security Act of 1974, as amended from time to time, and the applicable regulations promulgated thereunder. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is a member
of the Borrower’s controlled group, or under common control with the Borrower, within the meaning of Section 414 of the Code. 

“ERISA Event” means: 

(a)        (i) the occurrence of a reportable event, within the
meaning of Section 4043 of ERISA, with respect to any Single Employer Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC, or (ii) the requirements of subsection (1) of Section 4043(b)
of ERISA (without regard to subsection (2) of such Section) are being met with a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of a Single Employer Plan, and an event described in paragraph (9), (10), (11), (12) or
(13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within the following 30 days unless the 30-day notice requirement has been waived by the PBGC; 

(b)        the application for a minimum funding waiver with respect
to a Single Employer Plan; 

  
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(c)        the termination of or provision of a notice of intent to
terminate any Plan pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA) or otherwise so as to incur liability of the Borrower or any ERISA Affiliate
under Title IV of ERISA (other than premiums due to the PBGC); 

(d)        the cessation of operations at a facility of the Borrower
or any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA; 

(e)        the withdrawal by the Borrower or any ERISA Affiliate from
a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; 

(f)        the conditions for the imposition of a lien under
Section 303(k) of ERISA shall have been met with respect to any Plan; or 

(g)        the institution by the PBGC of proceedings to terminate a
Plan pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that could constitute grounds for the termination of a Plan, or the appointment of a trustee to administer a Single
Employer Plan or Multiple Employer Plan. 
 “Escrow Account” means any account established
for the purpose of depositing funds prior to their being applied towards Certain Funds Purposes. 

“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the
Loan Market Association (or any successor Person), as in effect from time to time. 
 “Eurocurrency
Liabilities” has the meaning specified in Regulation D of the Board, as in effect from time to time. 

“Eurocurrency Rate” means the Japanese Yen TIBOR rate administered by the JBA TIBOR
Administration (or any other Person that takes over the administration of such rate) for deposits in Yen for a period equal in length to such Interest Period as displayed on Thomson Reuters Japan screen page 17097 (or, in the event such rate does
not appear on such Thomson Reuters Japan screen page 17097, on any successor or substitute page of such screen page that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as
selected by the Administrative Agent in its reasonable discretion; in each case, the “Screen Rate”) at approximately 11:00 A.M., Tokyo time on the Quotation Day and Interest Period; provided that if the Screen Rate shall be
less than zero, such rate shall be deemed to be zero for the purposes of this Agreement; provided further that, if the Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest
Period”) with respect to Yen, then the Eurocurrency Rate shall be the Interpolated Rate at such time; provided that if any Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this
Agreement. “Interpolated Rate” means, at any time, the rate per annum determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from
interpolating on a linear basis between: (a) the Screen Rate for the longest period (for which that Screen Rate is available in Yen) that is shorter than the Impacted Interest Period and (b) the Screen Rate for the shortest period (for
which that Screen Rate is available for Yen) that exceeds the Impacted Interest Period, in each case, at such time; provided further that if no Screen Rate is available for Yen, the Eurocurrency Rate shall be the Reference Bank Rate.

 “Eurocurrency Rate Advance” means an Advance that bears interest as provided in
Section 2.07(a)(ii). 
 “Eurocurrency Rate Reserve Percentage” means a fraction
(expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the 

  
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maximum reserve, liquid asset, fees or similar requirements (including any marginal, special, emergency or supplemental
reserves or other requirements) established by any central bank, monetary authority, the Board, the Financial Conduct Authority, the Prudential Regulation Authority, the European Central Bank or other Governmental Authority for any category of
deposits or liabilities customarily used to fund loans in the applicable currency, expressed in the case of each such requirement as a decimal. Such reserve, liquid asset, fees or similar requirements shall include those imposed pursuant to
Eurocurrency Liabilities. A Eurocurrency Rate Advance shall be deemed to be subject to such reserve, liquid asset, fee or similar requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time
to any Lender under any applicable law, rule or regulation, including Eurocurrency Liabilities. The Eurocurrency Rate Reserve Percentage shall be adjusted automatically on and as of the effective date of any change in any reserve, liquid asset or
similar requirement. 
 “Events of Default” has the meaning specified in Section 6.01.

 “Exchange Rate” means on any day, for purposes of determining the Dollar Equivalent or
Yen Equivalent of any other currency, the rate at which such other currency may be exchanged into Dollars or Yen, as applicable, at the time of determination on such day as quoted by Bloomberg on www.bloomberg.com/markets/currencies/fxc.html (and
applying the Currency Converter set forth on such webpage), or as displayed on such other information service which publishes that rate of exchange from time to time in place of Bloomberg. In the event that such rate is not displayed by Bloomberg on
the webpage specified in the immediately preceding sentence, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the
Borrower, or, in the absence of such an agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrative Agent in the market where its foreign currency exchange operations in respect of such
currency are then being conducted, at or about such time as the Administrative Agent shall elect after determining that such rates shall be the basis for determining the Exchange Rate, on such date for the purchase of Yen or Dollars for delivery two
Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent may use any reasonable method, in consultation with the Borrower, it deems appropriate to
determine such rate, and such determination shall be conclusive absent manifest error. 
 “Excluded
Taxes” has the meaning specified in Section 2.14(a). 
 “Existing Target
Indebtedness” means indebtedness of the Target existing on the Closing Date. 

“FATCA” means (a) Sections 1471 to 1474 of the Code or any associated regulations,
(b) any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation
referred to in paragraph (a) above; or (c) any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraphs (a) or (b) above with the U.S. Internal Revenue Service, the United States government
or any governmental or taxation authority in any other jurisdiction. 
 “FIEA” means the
Financial Instruments and Exchange Act of Japan (Law No. 25 of 1948, as amended). 
 “Foreign
Exchange Act” means the Foreign Exchange and Foreign Trade Act of Japan (Law No. 59 of 2009, as amended). 

“GAAP” means generally accepted accounting principles as in effect in the United States from
time to time. 

  
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“General Meeting” means the extraordinary general meeting of the holders of Target Shares (or
any adjournment thereof) to be convened in connection with the implementation of a Scheme. 

“Governmental Authority” means the government of Japan, the United States of America, or any
other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government. 
 “Hazardous Materials”
means (a) petroleum and petroleum products, byproducts or breakdown products, radioactive materials, asbestos-containing materials, polychlorinated biphenyls and radon gas and (b) any other chemicals, materials or substances designated,
classified or regulated as “hazardous” or “toxic” or as a “pollutant” or “contaminant” or for which liability may be imposed, under any Environmental Law. 

“Hedge Agreements” means interest rate swap, cap or collar agreements, interest rate future
or option contracts, currency swap agreements, currency future or option contracts and other similar agreements. 

“HYB Debt” means the obligations of the Borrower for which the rights with respect to
interest and the conditions of redemption or repayment are substantially similar to those provided for in the Yen HYB Loans under the Yen Hybrid Loan Agreement, including (but not limited to) with respect to the subordinated nature thereof. 

“IFRS” means the International Financial Reporting Standards, as promulgated by the
International Accounting Standards Board (or any successor board or agency), as in effect on the Effective Date. 

“Impacted Interest Period” has the meaning provided in the definition of “Eurocurrency
Rate”. 
 “Indemnified Party” has the meaning specified in Section 9.04(b). 

“Information” has the meaning specified in Section 9.08. 

“Initial Lender” has the meaning specified in the definition of “Lenders”. 

“Intangible Assets” means the aggregate amount, for the Consolidated Group on a consolidated
basis, of all assets classified as intangible assets under IFRS, including, without limitation, customer lists, acquired technology, computer software, trademarks, patents, copyrights, organization expenses, franchises, licenses, trade names, brand
names, mailing lists, catalogs, unamortized debt discount and capitalized research and development costs. 

“Interest Period” means, for the Advance, the period commencing on the date of the Advance
and ending on the last day of the period calculated pursuant to the provisions below and, thereafter, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period calculated
pursuant to the provisions below. The duration of each such Interest Period shall be one month; provided, however, that: 

(a)        whenever the last day of any Interest Period would
otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided, however, that, if such extension would cause the last day of such Interest Period to
occur in the next succeeding calendar month, the last day of such Interest Period shall occur on the immediately preceding Business Day; and 

  
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(b)        whenever the first day of any Interest Period occurs on a
day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period
shall end on the last Business Day of such succeeding calendar month. 
 “Interpolated
Rate” has the meaning specified in the definition of “Eurocurrency Rate”. 

“Jersey Companies Law” means the Companies (Jersey) Law 1991. 

“Judgment Currency” has the meaning set forth in Section 9.16. 

“Lead Arrangers” means Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd. 

“Lenders” means, collectively, (a) each bank, financial institution and other
institutional lender listed on the signature pages hereof (each, an “Initial Lender”) and (b) each Eligible Assignee that shall become a party hereto pursuant to Section 9.07(a), (b) and (c). Each Lender shall have a
license required to engage in the business of lending money in Japan. 
 “Lien” means any
lien, security interest or other charge or encumbrance of any kind, or any other type of preferential arrangement, intended as a security interest, including, without limitation, the lien or retained security title of a conditional vendor and any
easement, right of way or other encumbrance on title to real property. 
 “Loan Documents”
means this Agreement and any amendments, notes or notices entered into in connection herewith. 

“Long Stop Date” means the date falling 12 months after the Bridge Facility Effective Date;
provided that such date may be extended if and to the extent that (i) any condition in paragraphs 4(c) to (j) in Part A of Appendix 1 to the Original Scheme Press Release (or the equivalent provision in any Offer Press Announcement)
has not been satisfied by the date falling 12 months after the Bridge Facility Effective Date; (ii) the Long Stop Date (as defined in the Original Scheme Press Release) has also been extended (with the Target having consented, to the extent
required, to any such extension) and (iii) such date shall not be extended beyond the date falling 15 months after the Bridge Facility Effective Date. 

“Losses” has the meaning specified in Section 9.04(b). 

“Mandatory Cancellation Event” means the occurrence of any of the following conditions or
events: 
  

	 	(i)	 where the Target Acquisition proceeds by way of a Scheme: 

(a)        the Court Meeting is held (and not adjourned or otherwise
postponed) to approve the Scheme at which a vote is held to approve the Scheme, but the Scheme is not so approved in accordance with Article 125(2) of the Jersey Companies Law by the requisite majority of the Scheme Shareholders at such Court
Meeting; 
 (b)        the General Meeting is held (and not
adjourned or otherwise postponed) to pass the Scheme Resolutions at which a vote is held on the Scheme Resolutions, but the Scheme Resolutions are not passed by the requisite majority of the shareholders of Target at such General Meeting; 

(c)        an application for the issuance of the Court Order is made
to the Court (and not adjourned or otherwise postponed) but the Court (in its final judgment) refuses to grant the Court Order; 

  
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(d)        either the Scheme lapses or it is withdrawn with the consent
of the Panel or by order of the Court; or 
 (e)        the date
which is 15 days after the Scheme Effective Date; 
 unless, in respect of paragraphs (a) to
(d) inclusive above, for the purpose of switching from a Scheme to a Takeover Offer, within 5 Business Days of such event the Borrower has notified the Administrative Agent that the Borrower intends to issue, and then within 10 Business Days
after delivery of such notice the Borrower does issue, an Offer Press Announcement and provides a copy to the Administrative Agent (in which case no Mandatory Cancellation Event shall have occurred); 

 

	 	(ii)	 where the Target Acquisition proceeds by way of a Takeover Offer: 

(a)        such Takeover Offer lapses, terminates or is withdrawn
unless, for the purpose of switching from a Takeover Offer to a Scheme, within 5 Business Days of such event the Borrower has notified the Administrative Agent that the Borrower intends to issue, and then within 10 Business Days after delivery of
such notice the Borrower does issue, a Scheme Press Release and provides a copy to the Administrative Agent (in which case no Mandatory Cancellation Event shall have occurred); or 

(b)        the date which is six weeks after the date (or to the
extent necessary to address a minority shareholder’s application to Court in protest thereof and written notice is provided to the Administrative Agent on or prior to the end of such initial six week period, twelve weeks after the date) that
the Borrower serves notice under Article 117 of the Jersey Companies Law to buy out minority shareholders; 
  

	 	(iii)	 the date upon which all payments made or to be made for Certain Funds Purposes have been paid in full in
cleared funds; or 

  

	 	(iv)	 the date which is 15 days after the Long Stop Date. 

“Margin Stock” has the meaning provided in Regulation U. 

“Maximum Rate” has the meaning specified in Section 9.19. 

“Material Adverse Effect” means a material adverse effect on (a) the financial condition
or results of operations of the Borrower or the Consolidated Group taken as a whole, (b) the rights and remedies of the Administrative Agent or any Lender under this Agreement, taken as a whole, or (c) the ability of the Borrower to
perform its or their payment obligations under this Agreement. 
 “Maturity Date” means,
with respect to the Advance, the day that is one month, two months, three months or six months after the date such Advance is made, as selected by the Borrower in the Notice of Borrowing for the Advance. 

“Moody’s” means Moody’s Investors Service, Inc. (or any successor thereof). 

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of
ERISA, to which the Borrower or any ERISA Affiliate is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions. 

“Multiple Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of
ERISA, that (a) is maintained for employees of the Borrower or any ERISA Affiliate and at least one Person other 

  
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than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which the Borrower or any ERISA
Affiliate could have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated. 

“Non-Consenting Lender” has the meaning specified in Section 9.01(c). 

“Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender. 

“Notice” has the meaning specified in Section 9.02(c). 

“Notice of Borrowing” has the meaning specified in Section 2.02(a). 

“NPL” means the National Priorities List under the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended from time to time. 
 “OFAC” means the
U.S. Treasury Department’s Office of Foreign Assets Control. 
 “Offer Documents”
means the Takeover Offer Document and the Offer Press Announcement. 
 “Offer Press
Announcement” means a press announcement released by or on behalf of the Borrower in accordance with Rule 2.7 of the City Code announcing that the Target Acquisition is to be effected by a Takeover Offer and setting out the terms and
conditions of the Takeover Offer. 
 “Original Scheme Press Release” means the Scheme Press
Release released by the Borrower on May 8, 2018. 
 “Other Connection Taxes” means,
with respect to the Administrative Agent or any Lender, Taxes imposed as a result of a present or former connection between the Administrative Agent or such Lender and the jurisdiction imposing such Tax (other than connections arising from the
Administrative Agent or such Lender having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to, or enforced,
any Loan Document, or sold or assigned an interest in any Loan Document). 
 “Other Taxes”
has the meaning specified in Section 2.14(b). 
 “Panel” means the Panel on Takeovers
and Mergers. 
 “Participant Register” has the meaning specified in Section 9.07(e).

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

“PBGC” means the Pension Benefit Guaranty Corporation (or any successor thereto). 

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

“Plan” means a Single Employer Plan or a Multiple Employer Plan. 

  
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“Plan Asset Regulations” means 29 CFR § 2510.3-101 et seq., as modified by
Section 3(42) of ERISA, as amended from time to time. 
 “Platform” has the meaning
specified in Section 5.01(i). 
 “Pro Forma Financials” has the meaning provided in
Section 3.02(f). 
 “Projections” means any projections and any forward looking
statements (including statements with respect to booked business) of the Consolidated Group furnished to the Lenders or the Administrative Agent by or on behalf of the Borrower prior to the Closing Date. 

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor,
as any such exemption may be amended from time to time. 
 “Public Debt Rating” means, as
of any date and subject to the provisions of the next succeeding sentence, the lowest rating that has been most recently announced by each of S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior
unsecured debt issued by the Borrower. For purposes of the foregoing: (a) if only one of S&P and Moody’s shall have in effect a Public Debt Rating, the Public Debt Rating shall be determined by reference to the available rating;
(b) if the ratings established by S&P and Moody’s shall fall within different levels, the Public Debt Rating shall be the higher of such ratings, except that, in the event that the lower of such ratings is more than one level below the
higher of such ratings, the Public Debt Rating shall be the level immediately above the lower of such ratings; and (c) if S&P or Moody’s shall change the basis on which ratings are established, each reference to the Public Debt Rating
announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be. 

“Public Lender” has the meaning set forth in Section 5.01. 

“Quotation Day” means two Business Days prior to the first day of such Interest Period. 

“Reference Bank Rate” means the arithmetic mean of the rates (rounded upwards to four decimal
places) supplied to the Administrative Agent at its request by the Reference Banks (as the case may be) as of the applicable time on the Quotation Day for the Advance in Yen and the applicable Interest Period as the rate at which the relevant
Reference Bank could borrow funds in the Tokyo (or other applicable) interbank market in the relevant currency and for the relevant period, were it to do so by asking for and then accepting interbank offers in reasonable market size in that currency
and for that period. 
 “Reference Banks” means such banks as may be appointed by the
Administrative Agent (and agreed by such bank) in consultation with the Borrower. 

“Register” has the meaning specified in Section 9.07(d). 

“Registrar” means the Registrar of Companies for Jersey. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Affiliates. 

“Required Lenders” means, at any time, Lenders holding more than 50% of the available
Commitments or aggregate outstanding principal amount of Advances at such time; provided that the Commitment of, or the Advances held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required
Lenders. 

  
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“Resignation Effective Date” has the meaning provided in Section 7.06(a). 

“Responsible Officer” means, with respect to the Borrower, the Chief Executive Officer, the
Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Head of Corporate Law, Japan Legal and the General Counsel of the Borrower (or other executive officer of the Borrower performing similar functions) or any other
officer of the Borrower responsible for overseeing or reviewing compliance with this Agreement. 

“Restricted Margin Stock” means Margin Stock owned by the Consolidated Group the value of
which (determined as required under clause 2(i) of the definition of “Indirectly Secured” set forth in Regulation U) represents not more than 25% of the aggregate value (determined as required under clause (2)(i) of the definition of
“Indirectly Secured” set forth in Regulation U), on a consolidated basis, of the property and assets of the Consolidated Group (excluding any Margin Stock) that is subject to the provisions of Section 5.02(a) or (b). 

“S&P” means Standard & Poor’s Financial Services LLC (or any successor
thereof). 
 “Sanctioned Country” means, at any time, a country, region or territory which
is itself the subject or target of comprehensive Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related
list of designated Persons maintained by OFAC, the U.S. Department of State, the Ministry of Finance of Japan, the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom, any relevant and applicable
European Union member state or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a)
or (b) or (d) any Person otherwise the subject of any Sanctions. 
 “Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, (b) the Japanese government,
including those imposed under the Foreign Exchange Act and the Import Trade Control Order of Japan (Cabinet Order No. 414 of 1949, as amended) or (c) the United Nations Security Council, the European Union, Her Majesty’s Treasury of
the United Kingdom or any relevant and applicable European Union member state or other relevant sanctions authority. 

“Scheme” means a scheme of arrangement to be effected under Article 125 of the Jersey
Companies Law between Target and the Scheme Shareholders pursuant to which the Borrower will become the holder of all of the Scheme Shares in accordance with the Scheme Documents, subject to such changes and amendments to the extent not prohibited
by the Loan Documents. 
 “Scheme Circular” means the document issued by or on behalf of
Target to the Scheme Shareholders setting out the terms and conditions of and an explanatory statement in relation to the Scheme, stating the recommendation of the Target Acquisition and the Scheme to the Scheme Shareholders by the board of
directors of Target and setting out the notices of the Court Meeting and the General Meeting as such document may be amended from time to time to the extent such amendment is not prohibited by the Loan Documents. 

“Scheme Documents” means, collectively (a) the Scheme Press Release, (b) the Scheme
Circular, (c) the Scheme Resolutions and (d) any other document issued by or on behalf of Target to its shareholders in respect of the Scheme and any other document designated as a “Scheme Document” by the Administrative Agent
and the Borrower. 

  
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“Scheme Effective Date” means the date on which the Court Order sanctioning the Scheme is duly
delivered on behalf of Target to the Registrar in accordance with Article 125(3) of the Jersey Companies Law. 

“Scheme Press Release” means a press announcement released by the Borrower in accordance with
Rule 2.7 of the City Code announcing that the Target Acquisition is to be effected by a Scheme and setting out the terms and conditions of the Scheme. 

“Scheme Resolutions” means the resolutions of the shareholders of Target which are required
to implement the Scheme and which are referred to and substantially in the form set out in the Scheme Circular and which are to be proposed at the General Meeting. 

“Scheme Shareholders” means the registered holders of Scheme Shares at the relevant time.

 “Scheme Shares” means the Target Shares which are subject to the Scheme in accordance
with its terms. 
 “Screen Rate” has the meaning set forth in the definition of
“Eurocurrency Rate”. 
 “Service of Process Agent” means CT
Corporation Systems, 111 Eighth Avenue, 13th Floor, New York, New York 10011. 

“Significant Subsidiary” means any Subsidiary of the Borrower that constitutes a
“significant subsidiary” under Regulation S-X promulgated by the Securities and Exchange Commission, as in effect from time to time. 

“Single Employer Plan” means a single employer plan, as defined in Section 4001(a)(15)
of ERISA, that (a) is maintained for employees of the Borrower or any ERISA Affiliate and no Person other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which the Borrower or any ERISA Affiliate could
have liability under Section 4069 of ERISA in the event such plan has been or were to be terminated. 

“Subsidiary” means, with respect to any Person, any corporation, partnership, joint venture,
limited liability company, trust or estate of which (or in which) more than 50% of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of
whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such limited liability company,
partnership or joint venture or (c) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such
Person’s other Subsidiaries. 
 “Takeover Offer” means a “takeover offer”
within the meaning of Article 116(1) of the Jersey Companies Law proposed to be made by the Borrower to acquire (directly or indirectly) Target Shares, substantially on the terms and conditions set out in an Offer Press Announcement (as such offer
may be amended in any way which is not prohibited by the terms of the Loan Documents). 
 “Takeover
Offer Document” means the document issued by or on behalf of the Borrower and dispatched to shareholders of Target in respect of a Takeover Offer containing the terms and conditions of the Takeover Offer reflecting the Offer Press
Announcement in all material respects as such document may be amended from time to time to the extent such amendment is not prohibited by the Loan Documents. 

  
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“Target” means Shire plc. 

“Target Acquisition” means the direct or indirect acquisition, pursuant to the Offer
Documents or Scheme Documents, as applicable, of the Target Shares, which acquisition will be effected pursuant to a Scheme or Takeover Offer. 

“Target Shares” means all of the issued and to be issued ordinary shares in the capital of
the Target (including any issued pursuant to the exercise of any options or awards or other instruments convertible into or exchangeable for shares of the Target). 

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions,
withholdings (including back-up withholdings), assessments, fees or other like charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Transactions” means the Target Acquisition, the entry into this Agreement and the
transactions contemplated hereby, the borrowing by the Borrower under the Commitments, and in each case, related fees costs and expenses. 

“Type” refers to a Cost of Funds Rate Advance or a Eurocurrency Rate Advance. 

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

“Unrestricted Margin Stock” means any Margin Stock owned by the Consolidated Group which is
not Restricted Margin Stock. 
 “Voting Stock” means shares of capital stock issued by a
corporation, or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the
right so to vote has been suspended by the happening of such a contingency. 
 “Withdrawal
Liability” has the meaning specified in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the
write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.

 “Yen” and the “¥” sign each means lawful currency of Japan. 

“Yen Equivalent” means, at any time, (a) with respect to any amount denominated in Yen,
such amount, and (b) with respect to any amount in any currency other than Yen, the equivalent in Yen of such amount, calculated on the basis of the Exchange Rate pursuant to Section 1.06 using the Exchange Rate with respect to such
currency at the time in effect pursuant to the provisions of such Section 1.06. 
 “Yen HYB
Bonds” means HYB Debt incurred to the Borrower in the form of notes, bonds, debentures or other similar instruments denominated in Yen. 

“Yen HYB Loans” means loans advanced to the Borrower under the Yen HYB Loan Agreement. 

  
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“Yen HYB Loan Agreement” means that certain subordinated syndicated loan agreement dated as of
October 26, 2018 among Takeda Pharmaceutical Company Limited, a joint-stock company organized and existing under the laws of Japan, the lenders that are parties thereto, and Sumitomo Mitsui Banking Corporation, as agent for the lenders. 

SECTION 1.02        Computation of Time Periods. In this Agreement, in the
computation of periods of time from a specified date to a later specified date, the word “from” means “from and including”, the word “through” means “through and including” and each of the words “to”
and “until” mean “to but excluding”. 
 SECTION
1.03        Accounting Terms. Except as otherwise expressly provided herein, all accounting terms not specifically defined herein shall be construed in accordance with, and all financial data (including
financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, IFRS, as in effect from time to time. If at any time any change in IFRS would affect the calculation of any covenant set forth herein
and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such covenant to preserve the original intent thereof in light of such change in IFRS
(subject to the approval of the Required Lenders); provided that, until so amended, (i) such covenant shall continue to be calculated in accordance with IFRS prior to such change and (ii) the Borrower shall provide to the
Administrative Agent and the Lenders, concurrently with the delivery of any financial statements or reports with respect to such covenant, statements setting forth a reconciliation between calculations of such covenant made before and after giving
effect to such change in IFRS. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without
giving effect to (i) any election under applicable accounting standards to value any Debt or other liabilities of the Borrower or any Subsidiary at “fair value” or similar term and (ii) any treatment of Debt in respect of
convertible debt instruments under applicable accounting standards to value any such Debt in a reduced or bifurcated manner, and such Debt shall at all times be valued at the full stated principal amount thereof. 

SECTION 1.04        Terms Generally. The definitions of terms herein shall
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise
(a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified
(subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein), (b) any definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time to time
amended, supplemented or otherwise modified (including by succession of comparable successor laws), (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions on
assignment set forth herein and (d) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision
hereto. 
 SECTION 1.05        Jersey Terms. In each Loan Document, where it
relates to a person incorporated or formed or having its centre of main interests in Jersey, a reference to: 
  

	 	(a)	 a winding up, administration or dissolution includes, without limitation, bankruptcy (as that term is
interpreted pursuant to Article 8 of the Interpretation (Jersey) Law 1954), any procedure or process referred to in Part 21 of the Jersey Companies Law, and any other similar proceedings affecting the rights of creditors generally under Jersey law,
and shall be construed so as to include any equivalent or analogous proceedings; or 

  
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	 	(b)	 a receiver, administrative receiver, administrator or the like includes, without limitation, the Viscount of
the Royal Court of Jersey, autorisés or any other person performing the same function of each of the foregoing. 

SECTION 1.06        Currency Translations. For purposes of (i) determining
the amount of Borrowed Debt incurred, outstanding or proposed to be incurred or outstanding under Section 5.02(e), (ii) determining the amount of indebtedness incurred in connection with an Acquisition under Section 5.03, (iii) determining
the amount of obligations secured by Liens incurred, outstanding or proposed to be incurred or outstanding under Section 5.02(a), (iv) determining the amount of Debt, the net assets of a Person or judgments outstanding under
Section 6.01(d), (e) or (f) or (v) determining the amount of any HYB Debt under Section 2.05(c) or 2.06(b), all amounts incurred, outstanding or proposed to be incurred or outstanding, in currencies other than Dollars shall
be translated into Dollars, and in currencies other than Yen shall be translated into the Yen Equivalent, as applicable, in each case at the Exchange Rate on the applicable date; provided that no Default shall arise as a result of any limitation set
forth in Dollars in Section 5.02(a) or (e) being exceeded solely as a result of changes in Exchange Rates from those rates applicable at the time or times Debt or obligations secured by Liens were initially consummated or acquired in
reliance on the exceptions under such Sections. 
 ARTICLE II 

AMOUNTS AND TERMS OF THE ADVANCE 

SECTION 2.01        The Advance. Each Lender severally and not jointly agrees,
on the terms and conditions hereinafter set forth to make a single Advance denominated in Yen to the Borrower on any Business Day during the Availability Period in an amount not to exceed such Lender’s outstanding Commitment immediately prior
to the making of the Advance. The Borrowing shall be in an aggregate amount equal to the Borrowing Minimum or a Borrowing Multiple in excess thereof and shall initially consist of a Eurocurrency Rate Advance made on the same day by the Lenders
ratably according to their respective Commitments. Upon the making of the Advance by a Lender such Lender’s relevant Commitment will be permanently reduced to zero and terminated. The Borrower may prepay the Advance pursuant to
Section 2.10, provided that the Advance may not be reborrowed once repaid. 
 SECTION
2.02        Making the Advance. (a) The Borrowing shall be made on notice by the Borrower, given not later than 9:00 A.M. (Tokyo time) on the third Business Day prior to the date of the proposed
Borrowing, to the Administrative Agent, which shall give to each Lender prompt notice thereof by writing or telecopy. A notice of Borrowing (a “Notice of Borrowing”) shall be by telecopy to the Agent in writing substantially in the
form of Exhibit A hereto, specifying therein the requested (i) date of the Borrowing (which shall be a Business Day), (ii) aggregate amount of such Borrowing, (iii) Maturity Date for the Advance, if the Borrowing is to consist of a
Eurocurrency Rate Advance, and (iv) account or accounts in which the proceeds of the Borrowing should be credited. Each Lender shall, before 11:00 A.M. (Tokyo time) on the date of the Borrowing make available for the account of its Applicable
Lending Office to the Administrative Agent at the applicable Administrative Agent’s Office, in same day funds, such Lender’s ratable portion of the Borrowing. After the Administrative Agent’s receipt of such funds and upon fulfillment
of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower in immediately available funds to the account or accounts specified by the Borrower to the Administrative Agent in the
Notice of Borrowing relating to the Borrowing. Notwithstanding anything to the contrary herein, there shall not be more than one separate Borrowing for the Advance. 

(b)        Anything in Section 2.02(a) to the contrary notwithstanding, the
Borrower may not select a Eurocurrency Rate Advance if the obligation of the Lenders to make a Eurocurrency Rate Advance shall then be suspended pursuant to Section 2.08 or 2.12. 

  
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(c)        The Notice of Borrowing shall be irrevocable and binding on the Borrower. In
the case it is specified in the Notice of Borrowing that the Borrowing to be comprised of a Eurocurrency Rate Advance, the Borrower shall indemnify each Lender against any reasonable loss, cost or expense incurred by such Lender as a result of any
failure to fulfill on or before the date specified in such Notice of Borrowing the applicable conditions set forth in Article III, including, without limitation, any reasonable loss (excluding loss of anticipated profits), cost or expense incurred
by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of the Borrowing when such Advance, as a result of such failure, is not made on such date. 

(d)        Unless the Administrative Agent shall have received notice from a Lender
prior to the time of the Borrowing that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the
Administrative Agent on the date of the Borrowing in accordance with Section 2.02(a) and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent
that any Lender shall not have so made such ratable portion available to the Administrative Agent, such Lender and the Borrower severally agree to pay or to repay to the Administrative Agent forthwith on demand such corresponding amount and to pay
interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is paid or repaid to the Administrative Agent, at (i) in the case of the Borrower, the higher of (A) the interest rate
applicable at the time to the Advance comprising the Borrowing and (B) the cost of funds incurred by the Administrative Agent in respect of such amount and (ii) in the case of such Lender, the greater of the Cost of Funds Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative
Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender shall pay to the Administrative Agent such corresponding principal amount, such amount so paid shall constitute such
Lender’s Advance as part of the Borrowing for all purposes of this Agreement. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the
Administrative Agent. 
 (e)        The failure of any Lender to make the Advance to
be made by it as part of the Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the
Advance to be made by such other Lender on the date of the Borrowing. 

(f)        If any Lender makes available to the Administrative Agent funds for the
Advance to be made by such Lender as provided herein, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the Borrowing are not satisfied or waived in accordance with the terms hereof, the
Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(g)        Each Lender at its option may make the Advance by causing any domestic or
foreign branch or Affiliate of such Lender to make such Advance (and in the case of an Affiliate, the provisions of Sections 2.08, 2.11 and 2.14 shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise
of such option shall not affect the obligation of the Borrower to repay such Advance in accordance with the terms of this Agreement. 

SECTION 2.03        [Reserved]. 

SECTION 2.04        Fees. (a) Commitment Fee. As part of the
consideration for each Lender’s Commitment hereunder, the Borrower agrees to pay to the Administrative Agent, for the account of each Lender 

  
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(other than a Defaulting Lender for such time as such Lender is a Defaulting Lender), a non-refundable commitment fee from (and excluding) the
Effective Date and from time to time through and including the date of termination of the Commitments in full, at a rate per annum equal to 0.05% per annum on the aggregate daily amount of such Lender’s Commitments during such period, such
fee to be earned and payable in arrears quarterly on the last Business Day of each March, June, September and December, and on the date the Commitment terminates in full or is otherwise reduced to zero. 

(b)        [Reserved]. 

(c)        Additional Fees. The Borrower shall pay to the Administrative Agent, Lead
Arrangers and Arranger for their account (or that of their applicable Affiliate) such fees as may from time to time be agreed between any of the Consolidated Group and the Administrative Agent, Lead Arrangers, and/or Arranger. 

(d)        Calculation of Commitment. For the avoidance of doubt, with respect
to the definition of “Mandatory Cancellation Event” and the ability thereunder for the Borrower to provide notices and issue documents to facilitate a switch from a Scheme to a Takeover Offer and vice versa, the Commitment shall be deemed
to be in effect until the end of the day on which the applicable notice or issuance is required to but does not occur for the purposes of calculating any fees under this Agreement or any fee letters related hereto. 

SECTION 2.05        Termination or Reduction of the Commitments.
(a) Unless previously terminated, the Commitments shall terminate in full at 5:00 p.m. (Tokyo time) on the earlier of (i) the date on which all of the Certain Funds Purposes have been achieved without the making of any Advances and
(ii) the date on which the Certain Funds Period terminates. Additionally, each Lender’s Commitment will be permanently reduced to zero and terminated upon such Lender making an Advance under such Commitment. Any termination or reduction of
the Commitments shall be permanent. 
 (b)        Ratable Reduction or
Termination. The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent at or about 10:00 A.M. (Tokyo time), to terminate in whole or permanently reduce ratably in part the unused portions of
Commitments of the Lenders; provided that each partial reduction shall be in an aggregate amount of not less than 5,000,000,000 Yen and an integral multiple of 5,000,000,000 Yen in excess thereof; provided further that any such
notice may state that such notice is conditioned upon the effectiveness of other credit facilities or the consummation of a specific transaction, in which case such notice may be revoked by the Borrower if such condition is not satisfied. 

(c)        Mandatory Reduction or Termination. Each Lender’s Commitment
will be permanently reduced ratably upon the incurrence by the Borrower of any HYB Debt (but excluding the Yen HYB Loan Agreement) following the Effective Date until the end of the Availability Period (provided, however, that this provision shall
not apply with respect to the funding or drawdown of (i) any such HYB Debt by issuance of subordinated notes or bonds denominated in a currency other than Yen and (ii) any such HYB Debt that is not identified by the Borrower to be used for
Certain Funds Purposes or does not have conditions precedent thereunder that are no more restrictive to the Borrower than the conditions precedent to the Closing Date in the Bridge Credit Agreement). The Commitments shall be reduced by the Yen
Equivalent of the amount of such HYB Debt upon the date of funding of such HYB Debt (if notes or bonds) or upon the execution of the loan agreement for such HYB Debt (if loans). 

SECTION 2.06        Repayment of the Advance. 

(a)        The Borrower shall repay on the Maturity Date to the Administrative Agent
for the ratable account of the Lenders, together with accrued and unpaid interest to the date of such repayment on the principal amount repaid, the aggregate principal amount of the Advance made to the Borrower outstanding on such date. 

  
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(b)        The Borrower shall with respect to any HYB Debt incurred by the Borrower
following the Effective Date (including the Yen HYB Loan Agreement, provided, however, that this provision shall not apply with respect to the funding of any such HYB Debt by issuance of subordinated notes or bonds denominated in a currency other
than Yen), upon the date of funding of any such HYB Debt pay the Yen or Yen Equivalent of the amount of such funding to repay the Advance, and if any prepayment hereunder is made on a date other than the last day of an Interest Period for the
Advance, the Borrower shall also pay any amount owing pursuant to Section 9.04(c), until all of the amounts have been paid in full. 

(c)        Each Party hereto acknowledges and agrees with respect to the foregoing
that it is the intention of such parties that the Advance will be repaid in its entirety by the Maturity Date with the proceeds of Yen HYB Bonds, Yen HYB Loans and/or other HYB Debt incurred by the Borrower after the Effective Date (provided,
however, that this provision shall not apply with respect to the funding of any such HYB Debt by issuance of subordinated notes or bonds denominated in a currency other than Yen), and the Borrower shall therefore ensure that such proceeds when
incurred are used to repay the Advances in accordance with this Section 2.06(b) ahead of any other purpose. 
 SECTION
2.07        Interest on the Advance. (a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal amount of the Advance made to it from the date of the Advance until such
principal amount shall be paid in full, at the following rates per annum: 

(i)        Cost of Funds Rate Advance. During such periods as
the Advance is a Cost of Funds Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (A) the Cost of Funds Rate for such Interest Period for such Advance and (B) the Applicable Margin
payable in arrears on (x) the last day of such Interest Period and (y) on the date such Cost of Funds Rate Advance shall be Converted or paid in full; provided that, in the event of any payment of interest pursuant to clause
(y) above, accrued but unpaid interest shall only be payable in respect of the principal amount of the Advance prepaid or Converted on such date. 

(ii)        Eurocurrency Rate Advance. During such periods as
the Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (A) the Eurocurrency Rate for such Interest Period for such Advance, and (B) the Applicable Margin,
payable in arrears on (x) the last day of such Interest Period and (y) on the date such Eurocurrency Rate Advance shall be Converted or paid in full; provided that, in the event of any payment of interest pursuant to clause
(y) above, accrued but unpaid interest shall only be payable in respect of the principal amount of the Advance prepaid or Converted on such date. 

(b)        Default Interest. Upon the occurrence and during the continuance of
an Event of Default pursuant to Section 6.01(a), the Administrative Agent shall, upon the request of the Required Lenders, require the Borrower to pay interest (“Default Interest”), which amount shall accrue as of the date of
occurrence of the Event of Default, on (i) amounts that are overdue, payable in arrears on the dates referred to in Section 2.07(a)(i) or 2.07(a)(ii), at a rate per annum equal at all times to 2% per annum above the rate per annum
required to be paid on such overdue amount pursuant to Section 2.07(a)(i) or 2.07(a)(ii) and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the
date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to
be paid on the Advance pursuant to Section 2.07(a)(ii) (or, if the Advance has been Converted to a Cost of Funds Rate Advance pursuant to Section 2.07(a)(i)), provided, however, that following acceleration of the Advance
pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Administrative Agent. 

  
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(c)        Additional Interest on Eurocurrency Rate Advance. The Borrower shall
pay to each Lender, so long as and to the extent such Lender shall be subject to, under applicable law, rules or regulations to reserves, liquid asset, fees or similar requirements (as further described in the definition of Eurocurrency Rate Reserve
Percentage) with respect to deposits or liabilities (as so described), additional interest on the unpaid principal amount of the Advance of such Lender made to the Borrower as a Eurocurrency Rate Advance, from the date of such Advance until such
principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (a) the Eurocurrency Rate for the applicable Interest Period for the Advance from (b) the rate obtained by dividing
such Eurocurrency Rate by a percentage equal to 100% minus the Eurocurrency Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on the Advance. Such Lender shall as soon as practicable
provide notice to the Administrative Agent and the Borrower of any such additional interest arising in connection with the Advance, which notice shall be conclusive and binding, absent demonstrable error. 

SECTION 2.08        Interest Rate Determination. (a) The Administrative
Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Administrative Agent for purposes of Section 2.07(a)(i) or 2.07(a)(ii). 

(b)        If, with respect to a Eurocurrency Rate Advance, (i) the
Administrative Agent shall have determined (which determination shall be conclusive and binding absent manifest error) that adequate and reasonable means (including, without limitation, by means of an Interpolated Rate) do not exist for ascertaining
the Eurocurrency Rate for such Interest Period or (ii) the Required Lenders notify the Administrative Agent that the Eurocurrency Rate for any Interest Period for the Advance will not adequately and fairly reflect the cost to the Required
Lenders of making, funding or maintaining their respective portion of the Eurocurrency Rate Advance for such Interest Period, the Administrative Agent shall forthwith so notify the Borrower and the Lenders, whereupon (A) (x) the Borrower
will, on the last day of the then existing Interest Period therefor prepay the Advance or (y) the Advance shall automatically, on the last day of the then existing Interest Period therefor, be Converted to a Cost of Funds Rate Advance with an
Interest Period of the same duration, and (B) the obligation of the Lenders to make the Advance as a Eurocurrency Rate Advance shall be suspended until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances
causing such suspension no longer exist. 
 (c)        If at any time the
Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (b)(i) have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances
set forth in clause (b)(i) have not arisen but either (w) the supervisor for the administrator of the Screen Rate has made a public statement that the administrator of the Screen Rate is insolvent (and there is no successor administrator that
will continue publication of the Screen Rate), (x) the administrator of the Screen Rate has made a public statement identifying a specific date after which the Screen Rate will permanently or indefinitely cease to be published by it (and there
is no successor administrator that will continue publication of the Screen Rate), (y) the supervisor for the administrator of the Screen Rate has made a public statement identifying a specific date after which the Screen Rate will permanently
or indefinitely cease to be published or (z) the supervisor for the administrator of the Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after
which the Screen Rate may no longer be used for determining interest rates for loans, then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the Eurocurrency Rate that gives due consideration to
the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related
changes to this Agreement as may be applicable (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that, if such alternate rate of interest as so determined would be less
than zero, such rate shall be deemed to be zero for the purposes of this Agreement. Notwithstanding anything to the contrary in 

  
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Section 9.01, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as
the Administrative Agent shall not have received, within five Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such Required Lenders object to
such amendment. Until an alternate rate of interest shall be determined in accordance with this clause (c) (but, in the case of the circumstances described in clause (ii) of the first sentence of this Section 2.08(c), only to the
extent the Screen Rate for the applicable currency and such Interest Period is not available or published at such time on a current basis), any request from the Borrower to continue the Advance as a Eurocurrency Rate Advance shall be ineffective and
the Advance shall automatically, on the last day of the then existing Interest Period therefor, be Converted to a Cost of Funds Rate Advance with an Interest Period of the same duration. 

SECTION 2.09        [Reserved]. 

SECTION 2.10        Optional Prepayments of the Advance. The Borrower may, upon
written notice to the Administrative Agent stating the proposed date and aggregate principal amount of the proposed prepayment, given not later than 10:00 A.M. (Tokyo time) three Business Days prior to the date (which date shall be a Business Day)
of such proposed prepayment, and if such notice is given, the Borrower shall, prepay the outstanding principal amount of the Advance made to the Borrower in whole or ratably in part, and together with accrued interest to the date of such prepayment
on the principal amount prepaid; provided, however, that (i) each partial prepayment shall be in an aggregate principal amount of the Borrowing Minimum or a Borrowing Multiple in excess thereof and (ii) if any prepayment of a
Eurocurrency Rate Advance is made on a date other than the last day of an Interest Period for such Eurocurrency Rate Advance, the Borrower shall also pay any amount owing pursuant to Section 9.04(c); and provided, further, that,
subject to clause (ii) of the immediately preceding proviso, any such notice may state that such notice is conditioned upon the effectiveness of other credit facilities or the consummation of a specific transaction, in which case such notice
may be revoked by the Borrower if such condition is not satisfied. 
 SECTION
2.11        Increased Costs. (a) If, due to either (i) the introduction of or any change in or in the interpretation of any law or regulation or (ii) the compliance with any directive,
guideline or request from any central bank or other Governmental Authority including, without limitation, any agency of the European Union or similar monetary or multinational authority (whether or not having the force of law), in each case after
the date hereof (or with respect to any Lender (or the Administrative Agent), if later, the date on which such Lender (or the Administrative Agent) becomes a Lender (or the Administrative Agent)), there shall be any increase in the cost to any
Lender or the Administrative Agent of agreeing to make or making, funding or maintaining the Advance (excluding for purposes of this Section 2.11 any such increased costs resulting from (i) Taxes as to which such Lender is indemnified
under Section 2.14, (ii) Excluded Taxes, or (iii) Other Taxes), then the Borrower shall from time to time, upon demand by such Lender or the Administrative Agent (with a copy of such demand to the Administrative Agent, if applicable),
pay to the Administrative Agent for the account of such Lender (or for its own account, if applicable) additional amounts sufficient to compensate such Lender or the Administrative Agent for such increased cost as reasonably determined by such
Lender or the Administrative Agent (which determination shall be made in good faith (and not on an arbitrary or capricious basis) and consistent with similarly situated customers of the applicable Lender or the Administrative Agent under agreements
having provisions similar to this Section 2.11 after consideration of such factors as such Lender or the Administrative Agent then reasonably determines to be relevant). A certificate describing such increased costs in reasonable detail
delivered to the Borrower shall be conclusive and binding for all purposes, absent demonstrable error. 

(b)        If any Lender reasonably determines that compliance with any law or
regulation or any directive, guideline or request from any central bank or other Governmental Authority including, without limitation, any agency of the European Union or similar monetary or multinational authority (whether or not

  
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having the force of law), in each case promulgated or given after the date hereof (or with respect to any Lender, if later, the date on which
such Lender becomes a Lender), affects or would affect the amount of capital, insurance or liquidity required or expected to be maintained by such Lender or any corporation controlling such Lender and that the amount of such capital, insurance or
liquidity is increased by or based upon the existence of such Lender’s commitment to lend hereunder and other commitments of this type, the Borrower shall, from time to time upon demand by such Lender (with a copy of such demand to the
Administrative Agent), pay to the Administrative Agent for the account of such Lender, additional amounts sufficient to compensate such Lender or such corporation in the light of such circumstances as reasonably determined by such Lender (which
determination shall be made in good faith (and not on an arbitrary or capricious basis) and consistent with similarly situated customers of the applicable Lender under agreements having provisions similar to this Section 2.11 after
consideration of such factors as such Lender then reasonably determines to be relevant), to the extent that such Lender reasonably determines such increase in capital, insurance or liquidity to be allocable to the existence of such Lender’s
Advance or commitment to lend hereunder. A certificate as to such amounts submitted to the Borrower and the Administrative Agent by such Lender shall be conclusive and binding for all purposes, absent demonstrable error. 

(c)        Failure or delay on the part of any Lender to demand compensation pursuant
to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs or reductions incurred
more than six months prior to the date that such Lender notifies the Borrower of the change or circumstance giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor; provided further that,
if the change or circumstance giving rise to such increased costs or reductions is retroactive, then the six-month period referred to above shall be extended to include the period of retroactive effect thereof. Any Lender making a claim for
compensation under this Section 2.11 may be required to assign all of its rights and obligations hereunder upon a request by the Borrower in accordance with Section 9.07. 

(d)        Notwithstanding anything in this Section 2.11 to the contrary, for
purposes of this Section 2.11, (A) the Dodd Frank Wall Street Reform and Consumer Protection Act and the rules and regulations issued thereunder or in connection therewith or in implementation thereof, and (B) all requests, rules,
guidelines and directions promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any similar or successor agency, or the United States or foreign regulatory authorities, in each case, pursuant to Basel
III) shall be deemed to have been enacted following the date hereof (or with respect to any Lender, if later, the date on which such Lender becomes a Lender); provided that no Lender shall demand compensation pursuant to this
Section 2.11(c) unless such Lender is making corresponding demands on similarly situated borrowers in comparable credit facilities to which such Lender is a party. 

SECTION 2.12        Illegality. Notwithstanding any other provision of this
Agreement, (a) if any Lender shall notify the Administrative Agent that the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other Governmental Authority, including
without limitation, any agency of the European Union or similar monetary or multinational authority, asserts that it is unlawful, for such Lender or its Eurocurrency Lending Office to perform its obligations hereunder to make a Eurocurrency Rate
Advance or to fund or maintain a Eurocurrency Rate Advance hereunder, (i) the Eurocurrency Rate Advance of such Lender will automatically, upon such notification, be Converted into a Cost of Funds Rate Advance with an Interest Period of one
month and (ii) the obligation of such Lender to make a Eurocurrency Rate Advance or to Convert the Advance into a Eurocurrency Rate Advance shall be suspended until the Administrative Agent shall notify the Borrower and such Lender that the
circumstances causing such suspension no longer exist and (b) if Lenders constituting the Required Lenders so notify the Administrative Agent, (i) the Eurocurrency Rate Advance of each Lender will automatically, upon such notification,
Convert into a Cost of Funds Rate Advance with an Interest Period of one month and (ii) the obligation of each Lender to make a 

  
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Eurocurrency Rate Advance or to Convert the Advance into a Eurocurrency Rate Advance shall be suspended until the Administrative Agent shall
notify the Borrower and each Lender that the circumstances causing such suspension no longer exist. Any Lender that is prohibited from performing its obligations to make the Advance or to continue to fund or maintain the Advance may be required to
assign all of its rights and obligations hereunder upon a request by the Borrower in accordance with Section 9.07. 

SECTION 2.13        Payments and Computations. (a) The Borrower shall make
each payment required to be made by it under this Agreement not later than 11:00 A.M. (Tokyo time) on the day when due in Yen to the Administrative Agent at the applicable Administrative Agent’s Office in same day funds. The Administrative
Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest or commitment fees ratably (other than amounts payable pursuant to Section 2.02(c), 2.07(c), 2.11, 2.12(a) (or if applicable the
last sentence of Section 2.12), 2.14, 2.15 or 9.04(c)) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the
account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon its acceptance of an Assignment and Acceptance and recording of the information contained therein in the Register pursuant to
Section 9.07(c), from and after the effective date specified in such Assignment and Acceptance, the Administrative Agent shall make all payments hereunder in respect of the interest assigned thereby to the assignor for amounts which have
accrued to but excluding the effective date of such assignment and to the assignee for amounts which have accrued from and after the effective date of such assignment. All payments to be made by the Borrower shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff. 
 (b)        The
Borrower hereby authorizes each Lender, if and to the extent payment owed to such Lender by the Borrower is not made when due hereunder, to charge from time to time against any or all of the Borrower’s accounts with such Lender any amount so
due, unless otherwise agreed between the Borrower and such Lender. 
 (c)        All
computations of interest hereunder shall be made by the Administrative Agent on the basis of a year of 365 days and in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which
such interest or such fees are payable. Each determination by the Administrative Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent demonstrable error. 

(d)        Whenever any payment hereunder shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or commitment fee, as the case may be; provided,
however, that, if such extension would cause payment of interest on or principal of the Advance made as a Eurocurrency Rate Advance to be made in the next following calendar month, such payment shall be made on the immediately preceding
Business Day. 
 (e)        Unless the Administrative Agent shall have received
written notice from the Borrower prior to the date on which any payment is due to the Lenders hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the
Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Borrower shall
not have so made such payment in full to the Administrative Agent, each Lender shall repay to the Administrative Agent, following prompt notice thereof, forthwith on demand such amount distributed to such Lender, together with interest thereon, for
each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Administrative Agent, at the Cost of Funds Rate. 

  
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SECTION 2.14        Taxes. (a) Any and all payments by or on behalf of the
Borrower under any Loan Document shall be made, in accordance with Section 2.13, free and clear of and without deduction for any Taxes, excluding, in the case of each Lender and the Administrative Agent, (i) taxes imposed on (or
measured by) its overall net income (however denominated), franchise taxes, and branch profits taxes, in each case (A) imposed by the jurisdiction under the laws of which such Lender or the Administrative Agent, as the case may be, is organized
or any political subdivision thereof, by the jurisdiction of the Administrative Agent’s principal office or such Lender’s Applicable Lending Office, as the case may be, or any political subdivision thereof or (B) that are Other
Connection Taxes, (ii) with respect to a Lender that is not a Japanese tax resident or a Japanese branch of a non-Japanese tax resident and is not entitled to a full exemption on Japanese withholding tax on interest payments under a tax treaty
entered into by Japan and that is in effect on the date specified in this clause (ii)(A)-(B) below, any Japanese withholding Taxes imposed by a Governmental Authority pursuant to a law in effect on the date on which (A) a Lender acquires
such interest in an Advance or Commitment or, with respect to the Administrative Agent, the date that the Administrative Agent becomes a party to a Loan Document or (B) a Lender changes its Applicable Lending Office, except in each case to the
extent that, pursuant to Section 2.14, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Applicable
Lending Office, (iii) any Tax that is imposed (for the avoidance of doubt, including any Tax that is imposed at higher effective tax rate) by reason of such Lender’s or the Administrative Agent’s failure to comply with
Section 2.14(f), and (iv) any withholding taxes imposed under FATCA (all such excluded Taxes in respect of payments under any Loan Document being hereinafter referred to as “Excluded Taxes”). If any Taxes from or in
respect of any sum payable under any Loan Document to any Lender or the Administrative Agent shall be required to be deducted or withheld under applicable law, (A) the Borrower shall be entitled to make such deductions or withholdings and
(B) the Borrower shall pay the full amount deducted or withheld to the relevant taxation authority or other Governmental Authority in accordance with applicable law. If any Taxes other than Excluded Taxes shall be required to be deducted from
or in respect of any sum payable under any Loan Document to any Lender or the Administrative Agent, the sum payable by the Borrower shall be increased as may be necessary so that after making all required deductions (including deductions applicable
to additional sums payable under this Section 2.14) such Lender or the Administrative Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made. 

(b)        In addition, without duplication of any other obligation set forth in this
Section 2.14, the Borrower agrees to pay to the relevant taxing authority or Governmental Authority any present or future stamp and documentary Taxes and any other excise or property Taxes, charges or similar levies that arise from any payment
made by it under any Loan Document or from the execution, delivery or registration of, or performance under, or otherwise with respect to, any Loan Document other than any such Taxes, charges or similar levies that are Other Connection Taxes imposed
with respect to an assignment or the designation of a new Applicable Lending Office (other than an assignment or designation pursuant to a request by the Borrower) (such Taxes, charges or similar levies, hereinafter referred to as “Other
Taxes”). 
 (c)        Without duplication of any other obligation set
forth in this Section 2.14, the Borrower shall indemnify each Lender and the Administrative Agent for the full amount of Taxes (other than Excluded Taxes) and Other Taxes (except to the extent such Other Taxes are Other Connection Taxes imposed
solely as a result of an assignment or the designation of a new Applicable Lending Office (other than an assignment or designation pursuant to a request by the Borrower)) imposed on or paid by such Lender or the Administrative Agent, as the case may
be, in respect of the Advance made to the Borrower and any liability (including, without limitation, penalties, interest and expenses) arising therefrom or with respect thereto. This indemnification shall be made within 30 days from the date such
Lender or the Administrative Agent, as the case may be, makes written demand therefor. Such Lender or the Administrative Agent shall deliver to the Borrower a certificate describing in reasonable detail the amount of such payment or liability. 

  
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(d)        Each Lender shall severally indemnify the Administrative Agent, within 10
days after demand therefor, for (i) any Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Taxes and without limiting the obligation of the Borrower to do
so) and (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 9.07(e) relating to the maintenance of a Participant Register, in either case, that are payable or paid by the Administrative Agent
in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A certificate describing in
reasonable detail the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts
at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (d). 

(e)        As soon as practical after the date of any payment of Taxes or Other Taxes
for which the Borrower is responsible under this Section 2.14, the Borrower shall furnish to the Administrative Agent, at its address as specified in Schedule II, the original or a certified copy of a receipt evidencing payment thereof. 

(f)        (i)        Any Lender that is
entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the
Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition,
any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and
submission of such documentation (other than such documentation set forth in Section 2.14(f)(ii) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any
material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 
  

	 	(ii)        Without	 limiting the generality of the foregoing: 

          (1)       
 Any Lender that is a “United States person” within the meaning of Section 7701(a)(30) of the Code shall deliver to the Borrower and the Administrative Agent executed originals of IRS Form W-9 (and any applicable successor form)
and such other documentation or information prescribed by applicable Laws or reasonably requested by the Borrower or the Administrative Agent certifying that such Lender is exempt from U.S. federal backup withholding tax. The forms described in this
Section 2.14(f)(ii)(1) shall be provided by each Lender to the Borrower and the Administrative Agent at the time such Lender becomes a party to this Agreement, at the time or times prescribed by applicable Laws, when reasonably requested by the
Borrower or the Administrative Agent, and promptly upon the obsolescence, invalidity or expiration of any form previously provided by such Lender; 

          (2)       
 Any Lender that is neither a Japanese tax resident nor a Japanese branch of a non-Japanese tax resident shall provide, to the extent it is legally entitled to do so, the applicable documentation to claim the benefits of a tax treaty entered
into by Japan , at the time or times prescribed by applicable Laws and when reasonably requested by the Borrower or the Administrative Agent; 

  
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            (3)      
  Any Lender that is a Japanese branch of a non-Japanese tax resident shall present, to the extent it is legally entitled to do so, a Certificate of Exemption for Withholding Tax for Foreign Corporations issued by the relevant tax authority
in Japan pursuant to Article 180 of the Income Tax Act of Japan (shotokuzeihou) at the time or times prescribed by applicable Laws and when reasonably requested by the Borrower or the Administrative Agent. 

(iii)        If a payment made to a Lender under any Loan Document would be subject
to withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the
Borrower and the Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent, such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower or the Administrative Agent to comply with its obligations under
FATCA, to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for the purposes of this clause 2.14(f)(ii), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement. 

(iv)        Each Lender agrees that if any form or certification it previously
delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(v)        Notwithstanding the foregoing, any Japanese Taxes resulting from the
failure or legal inability of a Lender to provide any tax forms pursuant to Section 2.14(f)(i)-(ii) or (iv) shall be considered Excluded Taxes unless (x) such Taxes are imposed as a result of a change in law or treaty occurring
after the date the Lender became a party to this Agreement or acquired its interest in a Loan or Commitment and would otherwise have not been treated as an Excluded Tax under Section 2.14(a) but for this Section 2.14(f)(v) or (y) such
Taxes were grossed up with respect to the Lender’s assignor immediately before such Lender became a party. 

(g)        In the event that an additional payment is made under Section 2.14(a)
or 2.14(c) for the account of the Administrative Agent or any Lender and the Administrative Agent or such Lender, in its sole discretion exercised in good faith, determines that it has received a refund of any tax paid or payable by it in respect of
or calculated with reference to the deduction or withholding giving rise to such additional payment (including by the payment of additional amounts pursuant to this Section 2.14), the Administrative Agent or such Lender shall pay to the
Borrower such amount equal to such refund as the Administrative Agent or such Lender shall, in its reasonable discretion exercised in good faith, have determined is attributable to such deduction or withholding and will leave the Administrative
Agent or such Lender (after such payment) in no worse position than it would have been had the Borrower not been required to make such deduction or withholding. The Borrower, upon the request of the Administrative Agent or such Lender, shall repay
to the Administrative Agent or such Lender the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that the Administrative Agent or such
Lender is required to repay such refund to such Governmental Authority. Nothing contained in this Section 2.14(g) shall (i) interfere with the right of a Lender to arrange its tax affairs in whatever manner it thinks fit or
(ii) oblige the Administrative Agent or any Lender to disclose any information relating to its tax returns, tax affairs or any computations in respect thereof or (iii) require any Lender to take or refrain from taking any action that would
prejudice its ability to benefit from any other credits, reliefs, remissions or repayments to which it may be entitled. 

(h)        Each party’s obligations under this Section 2.14 shall survive
the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under the Loan Documents.

  
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(i)        For purposes of this Section 2.14, the term “applicable law”
includes FATCA. 
 SECTION 2.15        Sharing of Payments, Etc. Subject to
Section 2.19 in the case of a Defaulting Lender, if any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) on account of the Advance owing to it (other than pursuant to
Section 2.02(c), 2.07(c), 2.11, 2.12(a), 2.14 or 9.04(c)) in excess of its ratable share of payments on account of the Advance obtained by all the Lenders, such Lender shall forthwith purchase from the other Lenders such participations in the
Advance owing to them as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from such
purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery together with an amount equal to such Lender’s ratable share (according
to the proportion of (a) the amount of such Lender’s required repayment to (b) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total
amount so recovered. The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.15 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of
setoff) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. The provisions of this Section 2.15 shall not be construed to apply to (A) any payment made
by the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from a Defaulting Lender) as in effect from time to time or (B) any payment obtained by a Lender as consideration
for the assignment of or sale of a participation in any of its Advance to any assignee or participant permitted hereunder. 

SECTION 2.16        Use of Proceeds. The proceeds of the Advance shall be
available, and the Borrower agrees that it shall apply such proceeds, solely towards Certain Funds Purposes. 
 SECTION
2.17        Evidence of Debt. (a) The Register maintained by the Administrative Agent pursuant to Section 9.07(d) shall include (i) the date and amount of the Borrowing made hereunder by
the Borrower, the Type of Advance comprising such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each Assignment and Acceptance delivered to and accepted by it, (iii) the amount of any principal or
interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iv) the amount of any sum received by the Administrative Agent from the Borrower hereunder and each Lender’s share thereof. 

(b)        Entries made reasonably and in good faith by the Administrative Agent in
the Register pursuant to subsection (a) above shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to each Lender under this Agreement, absent
manifest error; provided, however, that the failure of the Administrative Agent to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit, expand or otherwise affect the
obligations of the Borrower under this Agreement. 
 SECTION 2.18
        [Reserved]. 
 SECTION 2.19
        Defaulting Lenders. 
 (a)
        Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender
(it being understood that the determination of whether a Lender is no longer a Defaulting Lender shall be made as described in Section 2.19(b)): 

(i)         such Defaulting Lender will not be entitled to any fees
accruing during such period pursuant to Section 2.04(a); 

  
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(ii)         [reserved]; 

(iii)        to the fullest extent permitted by applicable law, such
Lender will not be entitled to vote in respect of amendments and waivers hereunder, and the Commitment and the outstanding Advance of such Lender hereunder will not be taken into account in determining whether the Required Lenders or all of the
Lenders, as required, have approved any such amendment or waiver (and the definition of “Required Lenders” will automatically be deemed modified accordingly for the duration of such period); provided that any such amendment or
waiver that would increase or extend the term of the Commitment of such Defaulting Lender, extend the date fixed for the payment of principal or interest owing to such Defaulting Lender hereunder, reduce the principal amount of any obligation owing
to such Defaulting Lender, reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting Lender or of any fee payable to such Defaulting Lender hereunder, or alter the terms of this proviso, will require the consent
of such Defaulting Lender; and 
 (iv)        the Borrower may, at
its sole expense and effort, require such Defaulting Lender to assign and delegate its interests, rights and obligations under this Agreement pursuant to Section 9.07. 

(b)          If the Borrower and the Administrative Agent agree in writing in
their discretion that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, such Lender
will cease to be a Defaulting Lender and will be a Non-Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting
Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Non- Defaulting Lender will constitute a waiver or release of any claim of any
party hereunder arising from such Lender’s having been a Defaulting Lender. 
 (c)
         Any payment of principal, interest, fees or other amounts received by the Administrative Agent hereunder for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity,
pursuant to Section 6.01 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 9.05 shall be applied at such time or times as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second as the Borrower may request (so long as no Default or Event of Default exists), to the funding of the Advance in respect of which such Defaulting Lender has failed to fund its
portion thereof as required by this Agreement, as reasonably determined by the Administrative Agent; third, as the Borrower may request, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s
potential future funding obligations with respect to the Advance under this Agreement; fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against
such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of
any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and sixth, to such Defaulting Lender or as
otherwise directed by a court of competent jurisdiction. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or otherwise pursuant to this Section
2.19(c) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

SECTION 2.20         Mitigation. (a) Each Lender shall promptly notify the
Borrower and the Administrative Agent of any event of which it has knowledge that will result in, and will use reasonable commercial efforts available to it (and not, in such Lender’s good faith judgment, otherwise disadvantageous to such
Lender) to mitigate or avoid, (i) any obligation by the Borrower to pay any amount pursuant to Section 2.11 

  
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or 2.14 or (ii) the occurrence of any circumstance described in Section 2.12 (and, if any Lender has given notice of any such event
described in clause (i) or (ii) above and thereafter such event ceases to exist, such Lender shall promptly so notify the Borrower and the Administrative Agent). In furtherance of the foregoing, each Lender will designate a different
funding office if such designation will avoid (or reduce the cost to the Borrower of) any event described in clause (i) or (ii) of the preceding sentence and such designation will not, in such Lender’s good faith judgment, be otherwise
disadvantageous to such Lender. 
 (b)         Notwithstanding any other provision
of this Agreement, if any Lender fails to notify the Borrower of any event or circumstance which will entitle such Lender to compensation pursuant to Section 2.11 within 180 days after such Lender obtains knowledge of such event or
circumstance, then such Lender shall not be entitled to compensation from the Borrower for any amount arising prior to the date which is 180 days before the date on which such Lender notifies the Borrower of such event or circumstance. 

ARTICLE III 
 CONDITIONS TO
EFFECTIVENESS AND LENDING 
 SECTION 3.01         Conditions Precedent to
Effective Date. This Agreement shall become effective on and as of the first date on which the following conditions precedent have been satisfied (with the Administrative Agent acting reasonably in assessing whether the conditions precedent are
satisfactory) (or waived in accordance with Section 9.01): 
 (a)
        The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement and the other Loan Documents signed on behalf of such party or
(ii) written evidence reasonably satisfactory to the Administrative Agent (which may include .pdf or facsimile transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement. 

(b)         All fees and other amounts then due and payable by the
Consolidated Group to the Administrative Agent, the Lead Arrangers, the Arranger and the Lenders under the Loan Documents or pursuant to any fee or similar letters relating to the Loan Documents shall be paid, to the extent invoiced by the relevant
person at least one Business Day prior to the Effective Date and to the extent such amounts are payable on or prior to the Effective Date. 

(c)         The Administrative Agent shall have received on or before
the Effective Date, each dated on or about such date: 
 (i)
        Certified copies of the resolutions or similar authorizing documentation of the governing bodies of the Borrower authorizing such Person to enter into and perform its obligations under the Loan
Documents to which it is a party; 
 (ii)         Certified copies
of the Borrower’s articles of incorporation, certificate of incorporation and bylaws (or comparable organizational documents) and any amendments thereto; 

(iii)         A certificate of the Borrower attaching a certificate of
commercial registry (rireki jikou zenbu shomeisho) of the Borrower issued by a Legal Affairs Bureau and certifying that all information required to be registered under the laws of Japan has been registered in the commercial registry; 

(iv)         A customary certificate of the Borrower certifying the
names and true signatures of the officers of the Borrower authorized to sign this Agreement and the other documents to be delivered by it hereunder; and 

  
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(v)         A favorable opinion letter of each of (i) Linklaters
LLP and (ii) Gaikokuho Kyodo-Jigyo Horitsu Jimusho Linklaters, in each case in form and substance reasonably satisfactory to the Administrative Agent. 

(d)         [reserved]. 

(e)         The Administrative Agent shall have received a copy,
certified by the Borrower, of the Original Scheme Press Release. 
 (f)
        The Administrative Agent shall have received, at least 3 Business Days prior to the Effective Date, so long as requested no less than 10 Business Days prior to the Effective Date, all documentation and
other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Criminal Proceeds Transfer Prevention Act of Japan (Law No. 22 of 2007, as
amended) and the Patriot Act, in each case relating to the Borrower and its Subsidiaries, including the Borrower. 

(g)         The Administrative Agent shall have received a letter from
the Service of Process Agent indicating its consent to its appointment by the Borrower as its agent to receive service of process as specified in this Agreement, and confirming that such appointment is in full force and effect and applies to this
Agreement in all respects. 
 (h)         The Lead Arrangers and the
Arranger shall have received a copy of the Disclosure Letter, it being acknowledged that neither the Administrative Agent nor any Lender shall have any approval right as regards the form or contents of the Disclosure Letter. 

The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date in writing promptly upon such
conditions precedent being satisfied (or waived in accordance with Section 9.01), and such notice shall be conclusive and binding. 

SECTION 3.02         Conditions Precedent to Closing Date. Subject to Section
3.04, the obligation of each Lender to make an Advance on the Closing Date is subject to the satisfaction (or waiver in accordance with Section 9.01) of the following conditions: 

(a)         The Effective Date shall have occurred. 

(b)         If the Target Acquisition is effected by way of a Scheme,
the Administrative Agent shall have received: 
 (i)         a
certificate of the Borrower signed by a director certifying: 
 (1)
        the date on which the Scheme Circular was posted to the shareholders of the Target; 

(2)         the date on which the Court has sanctioned the Scheme and
that the Court Order has been duly delivered to the Registrar in accordance with Article 125(3) of the Jersey Companies Law; 

(3)         confirmation as to the satisfaction of each condition set
forth in clauses (d) and (e) below; 

  
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(4)         the Target Acquisition shall have been, or, within the
time period permitted by the City Code, shall be, consummated in all material respects in accordance with the terms and conditions of the Scheme Documents except to the extent not prohibited by the Loan Documents; and 

(5)         each copy of the documents specified in paragraph
(ii) below is correct and complete and has not been amended or superseded on or prior to the Closing Date, except to the extent such changes thereto have been required pursuant to the City Code or required by the Panel or by a court of
competent jurisdiction or to the extent not prohibited by the Loan Documents; and 
 (ii)
        a copy of the Scheme Circular which is consistent in all material respects with the terms and conditions in the Scheme Press Release and the Scheme Resolutions, in each case, except to the extent
changes thereto have been required pursuant to the City Code or required by the Panel or by a court of competent jurisdiction or are not prohibited by the Loan Documents. 

(c)         If the Target Acquisition is effected by way of a Takeover
Offer, the Administrative Agent shall have received: 
 (i)        
a certificate of the Borrower signed by a director certifying: 
 (1)
        the date on which the Takeover Offer Document was posted to the shareholders of the Target; 

(2)         confirmation as to the satisfaction of each condition set
forth in clauses (d) and (e) below; 
 (3)         each
copy of the documents specified in paragraph (ii) below is correct and complete and has not been amended or superseded on or prior to the Closing Date, except to the extent such changes thereto have been required pursuant to the City Code or
required by the Panel or are not prohibited by the Loan Documents; and 
 (4)
        that the Takeover Offer has been declared unconditional in all respects without any material amendment, modification or waiver of the conditions to the Takeover Offer or of the Acceptance Condition
except to the extent not prohibited by the Loan Documents; and 
 (ii)
        a copy of the Takeover Offer Document which is consistent in all material respects with the terms and conditions in the Offer Press Announcement, except to the extent changes thereto have been required
pursuant to the City Code or required by the Panel or a court of competent jurisdiction or are permitted under the Loan Documents. 

(d)         On the date of the applicable borrowing request and on the
proposed date of such borrowing (x) no Certain Funds Default is continuing or would result from the proposed Borrowing and (y) all the Certain Funds Representations are true or, if a Certain Funds Representation does not include a
materiality concept, true in all material respects. 
 (e)
        The Administrative Agent shall have received a Notice of Borrowing in accordance with Section 2.02. 

(f)         The Administrative Agent shall have received a pro forma
consolidated balance sheet and related pro forma consolidated statement of income of the Borrower and its Subsidiaries as of and for the 

  
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twelve-month period ending on the last day of the most recently completed four- fiscal quarter period ended at least 45 days
prior to the Closing Date, prepared after giving effect to the Transactions as if the Transactions had occurred as of such date (in the case of such balance sheet) or at the beginning of such period (in the case of such statement of income) (the
“Pro Forma Financials”), it being acknowledged that neither the Administrative Agent nor any Lender shall have any approval right as regards the form or contents of the Pro Forma Financials). 

(g)         It is not illegal for any Lender to lend and there is no
injunction, restraining order or equivalent prohibiting any Lender from lending its portion of the Advance or restricting the application of the proceeds thereof; provided that such Lender has used commercially reasonable efforts to make the
Loans through an Affiliate of such Lender not subject to such legal restriction; provided further, that the occurrence of such event in relation to one Lender shall not relieve any other Lender of its obligations to make the Advance
hereunder. 
 The Administrative Agent shall notify the Borrower and the Lenders of the Closing Date as soon as practicable
upon its occurrence, and such notice shall be conclusive and binding. 
 SECTION
3.03         Conditions to the Advance after the Closing Date. The obligation of each Lender to make the Advance on any date after the Closing Date and during the Availability Period is subject to the
satisfaction (or waiver in accordance with Section 9.01) of the following conditions: 
 (a)
        Each of the Effective Date and the Closing Date shall have occurred. 

(b)         The Administrative Agent shall have received a Notice of
Borrowing in accordance with Section 2.02. 
 (c)         On
the date of the applicable borrowing request and on the proposed date of such borrowing (i) no Certain Funds Default is continuing or would result from the proposed Borrowing and (ii) all the Certain Funds Representations are true or, if a
Certain Funds Representation does not include a materiality concept, true in all material respects. 
 (d)
        [reserved]. 
 (e)
        It is not illegal for any Lender to lend and there is no injunction, restraining order or equivalent prohibiting any Lender from lending its portion of the Advance or restricting the application of the
proceeds thereof; provided that such Lender has used commercially reasonable efforts to make the Loans through an Affiliate of such Lender not subject to such legal restriction; provided further, that the occurrence of such event in
relation to one Lender shall not relieve any other Lender of its obligations to make the Advance hereunder. 
 SECTION
3.04         Actions by Lenders During the Certain Funds Period. During the Certain Funds Period and notwithstanding (i) any provision to the contrary in the Loan Documents or (ii) that any
condition set out in Sections 3.01, 3.02 or 3.03 may subsequently be determined to not have been satisfied or any representation given was incorrect in any material respect, none of the Lenders nor the Administrative Agent shall, unless a Certain
Funds Default has occurred and is continuing or would result from a proposed borrowing or a Certain Funds Representation remains incorrect or, if a Certain Funds Representation does not include a materiality concept, incorrect in any material
respect, be entitled to: 
  

	 	(i)	 cancel any of its Commitments; 

  
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	 	(ii)	 rescind, terminate or cancel the Loan Documents or the Commitments or exercise any similar right or remedy
or make or enforce any claim under the Loan Documents it may have to the extent to do so would prevent or limit (A) the making of an Advance for Certain Funds Purposes or (B) the application of amounts standing to the credit of an Escrow
Account for Certain Funds Purposes; 

  

	 	(iii)	 refuse to participate in the making of an Advance for Certain Funds Purposes unless the conditions set forth
in Section 3.02 or, after the Closing Date, 3.03, as applicable, have not been satisfied; 

  

	 	(iv)	 exercise any right of set-off or counterclaim in respect of an Advance to the extent to do so would prevent
or limit (A) the making of an Advance for Certain Funds Purposes or (B) the application of amounts standing to the credit of an Escrow Account for Certain Funds Purposes; or 

 

	 	(v)	 cancel, accelerate or cause repayment or prepayment of any amounts owing under any Loan Document to the
extent to do so would prevent or limit (A) the making of an Advance for Certain Funds Purposes or (B) the application of amounts standing to the credit of an Escrow Account for Certain Funds Purposes; 

provided that immediately upon the expiry of the Certain Funds Period all such rights, remedies and entitlements shall
be available to the Lenders and the Administrative Agent notwithstanding that they may not have been used or been available for use during the Certain Funds Period. 

ARTICLE IV 
 REPRESENTATIONS
AND WARRANTIES 
 SECTION 4.01        Representations and Warranties of the
Borrower. The Borrower represents and warrants on the Effective Date and the date of the making of the Advance (it being understood the conditions to the Effective Date are solely those set out in Section 3.01 and the conditions to the
Advance are solely those set out in Sections 3.02 and 3.03, as applicable) as follows: 

(a)        The Borrower is duly organized, validly existing and in
good standing (to the extent that such concept exists) under the laws of its jurisdiction of organization. 

(b)        The execution, delivery and performance by the Borrower of
this Agreement and the other Loan Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby, (i) are within the Borrower’s organizational powers, (ii) have been duly authorized by all
necessary organizational action, (iii) do not contravene (A) the Borrower’s charter, articles of incorporation or by-laws or other organizational documents or (B) any law, regulation or contractual restriction binding on or
affecting the Borrower and (iv) will not result in or require the creation or imposition of any Lien upon or with respect to any of the properties of the Consolidated Group (other than Liens created or required to be created pursuant to the
terms hereof), except, in the case of clause (iii)(B) and (iv), as would not be reasonably expected to have a Material Adverse Effect. 

(c)        No authorization or approval or other action by, and no
notice to or filing with, any Governmental Authority or regulatory body is required for the due execution, delivery and performance by the Borrower of this Agreement and the consummation of the transactions contemplated hereby, other than
(i) the Panel, as directed by the Panel pursuant to the requirements of the City Code, anti-trust regulators, as directed by anti-trust regulators, as contemplated by the Scheme Documents or (as the case may be) the Takeover Offer Documents or
as is obtained by the time required and (ii) the Bank of Japan with respect to post-facto filings that may be required under the Foreign Exchange Act in connection with the performance of this Agreement. 

  
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(d)        This Agreement and the other Loan Documents have been duly
executed and delivered by the Borrower. This Agreement and the other Loan Documents are legal, valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with its terms, except as affected by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and general principles of equity (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

(e)        The Borrower has heretofore furnished to the Lenders
(i) its consolidated balance sheet at March 31, 2018 and the related consolidated statements of operations, shareholders’ equity and cash flows for the fiscal year ended March 31, 2018, in each case reported on by KPMG AZSA LLC,
independent public accountants and (ii) the consolidated balance sheet of the Target as December 31, 2017 and the related consolidated statements of operations, shareholders’ equity and cash flows for the fiscal year ended
December 31, 2017. Such financial statements (to the Borrower’s knowledge with respect to the financial statements of the Target) present fairly, in all material respects, the consolidated financial position and results of operations and
cash flows of the Borrower and the Target, as applicable, and their respective consolidated Subsidiaries as of such dates and for such periods in accordance with IFRS and GAAP, as applicable, except as may be indicated in the notes thereto and
subject to year-end audit adjustments and the absence of footnotes in the case of unaudited financial statements. 

(f)        There is no action, suit, investigation, litigation or
proceeding (including, without limitation, any Environmental Action), affecting the Consolidated Group pending or, to the knowledge of the Borrower, threatened before any court, governmental agency or arbitrator that would reasonably be expected to
be adversely determined, and if so determined, (a) would reasonably be expected to have a material adverse effect on the financial condition or results of operations of the Consolidated Group taken as a whole (other than the litigation set
forth in the Disclosure Letter) or (b) would adversely affect the legality, validity and enforceability of any material provision of this Agreement in any material respect. 

(g)        Following application of the proceeds of the Advance, not
more than 25 percent of the value of the assets of the Borrower and of the Consolidated Group, on a Consolidated basis, subject to the provisions of Section 5.02(a) will be Margin Stock. No part of the proceeds of the Advance have been used or
will be used for any purpose that entails a violation of any of the regulations of the Board, including Regulations T, U and X of the Board. 

(h)        All written information (other than the Projections)
concerning the Borrower, the Target and their Subsidiaries and the transactions contemplated hereby or otherwise prepared by or on behalf of the Borrower and its Subsidiaries and furnished to the Agents or the Lenders in connection with the
negotiation of, or pursuant to the terms of, this Agreement when taken as a whole (and with respect to information regarding the Target Group, to the Borrower’s knowledge), was true and correct in all material respects as of the date when
furnished by such Person to the Agents or the Lenders and did not, taken as a whole, when so furnished contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the statements
contained therein, taken as a whole, not misleading in light of the circumstances under which such statements were made. The Projections and estimates and information of a general economic nature prepared by or on behalf of the Borrower or its
Subsidiaries and that have been furnished by such Person to any Lenders or the Administrative Agent in connection with the transactions contemplated hereby have been prepared in good faith based upon assumptions believed by such Person to be
reasonable as of the date of such Projections (it being understood that actual results may vary materially from the Projections). 

(i)        No ERISA Event has occurred or is reasonably expected to
occur with respect to any Plan which would reasonably be expected to have a Material Adverse Effect. 

  
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(j)        [reserved]. 

(k)        Neither the Borrower nor any ERISA Affiliate (i) is
reasonably expected to incur any Withdrawal Liability to any Multiemployer Plan or has incurred any Withdrawal Liability that has not been satisfied in full or (ii) has been notified by the sponsor of a Multiemployer Plan that such
Multiemployer Plan is in reorganization (within the meaning of Section 4241 of ERISA) or has been determined to be in “endangered” or “critical’ status (within the meaning of Section 432 of the Code or Section 305
of ERISA), and no such Multiemployer Plan is reasonably expected to be in reorganization or in “endangered” or “critical” status. 

(l)        (i) The operations and properties of the Consolidated Group
comply, and have complied for the previous three years, in all respects with all applicable Environmental Laws and Environmental Permits except to the extent that the failure to so comply, either individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect; (ii) all past non-compliance with such Environmental Laws and Environmental Permits has been resolved without any ongoing obligations or costs except to the extent that such
non-compliance, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; and (iii) to the Borrower’s knowledge, no circumstances exist that would be reasonably expected to (A) form the
basis of an Environmental Action against a member of the Consolidated Group or any of its properties that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect or (B) cause any such property to
be subject to any restrictions on ownership, occupancy, use or transferability under any Environmental Law that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

(m)       (i) None of the properties currently or formerly owned or
operated by a member of the Consolidated Group is listed or formally proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list; (ii) to the Borrower’s knowledge, there are no, and never have been any,
underground or aboveground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed of on any property currently owned or operated by any member
of the Consolidated Group or, to the Borrower’s knowledge, on any property formerly owned or operated by a member of the Consolidated Group that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse
Effect; (iii) to the Borrower’s knowledge, there is no asbestos or asbestos-containing material on any property currently owned or operated by a member of the Consolidated Group the mitigation of which, either individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect; and (iv) to the Borrower’s knowledge, no Hazardous Materials have been released, discharged or disposed of on any property currently or formerly owned, leased or
operated by a member of the Consolidated Group for which a member of the Consolidated Group could be expected to be made liable to remediate under Environmental Law except in each case as would not have a Material Adverse Effect. 

(n)        No member of the Consolidated Group is undertaking either
individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or
operation, either voluntarily or pursuant to the order of any governmental or regulatory authority or the requirements of any Environmental Law that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse
Effect; and, to the Borrower’s knowledge, all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by a member of the Consolidated Group, or any
offsite locations to which a member of the Consolidated Group sent Hazardous Materials for treatment or disposal, have been disposed of in a manner that, either individually or in the aggregate, would not reasonably be expected to result in a
Material Adverse Effect. 

  
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(o)        The Borrower is not an “investment company” as
defined in, or subject to regulation under, the Investment Company Act of 1940, as amended. 

(p)        The Advance and all related obligations of the Borrower
under this Agreement rank pari passu with all other unsecured obligations of the Borrower that are not, by their terms, expressly subordinate to the obligations of the Borrower hereunder. 

(q)        The proceeds of the Advance will be used in accordance with
Section 2.16. 
 (r)        The Borrower has implemented and
maintains in effect policies and procedures reasonably designed to promote compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the
Borrower, its Subsidiaries and their respective officers and directors and to the knowledge of the Borrower its employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (i) the
Borrower, any Subsidiary, any of their respective directors or officers or to the knowledge of the Borrower or such Subsidiary employees, or (ii) to the knowledge of the Borrower, any agent of the Borrower or any agent of any Subsidiary that
will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. 

(s)        No Borrowing or use of proceeds thereof or the Transactions
will violate any applicable Anti-Corruption Law or applicable Sanctions. 

(t)        The Borrower has delivered to the Administrative Agent a
complete and correct copy of the Scheme Documents (if and when issued) or, as the case may be, the Offer Documents (if and when issued), including all schedules and exhibits thereto. The release of the Offer Press Announcement and the posting of the
Takeover Offer Documents if a Takeover Offer is pursued has been or will be, prior to their release or posting (as the case may be) duly authorized by the Borrower. Each of the material obligations of the Borrower under the Takeover Offer Documents
is or will be, when entered into and delivered, the legal, valid and binding obligation of the Borrower, enforceable against such Persons in accordance with its terms in each case, except as may be limited by (i) bankruptcy, insolvency,
reorganization or other similar laws affecting the rights and remedies of creditors generally and (ii) general principles of equity. 

(u)        The Scheme Press Release and the Scheme Circular (in each
case if and when issued) when taken as a whole: (i) except for the information that relates to the Target or the Target Group, do not (or will not if and when issued) contain (to the best of its knowledge and belief (having taken all reasonable
care to ensure that such is the case)) any statements which are not in accordance with the material facts, or where appropriate, do not omit anything likely to affect the import of such information and (ii) contain all the material terms of the
Scheme. 
 (v)        If the Target Acquisition is effected by way
of a Scheme, each of the Scheme Documents complies in all material respects with the Jersey Companies Law and the City Code, subject to any applicable waivers by or requirements of the Panel. 

(w)        The Borrower is not an EEA Financial Institution. 

SECTION 4.02        Representations and Warranties of the Lenders
and the Borrower. Each of the Borrower and each Lender represents and warrants on the Effective Date and the date of the making of the Advance (it being understood the conditions to the Effective Date are solely those set out in
Section 3.01 and the conditions to the Advance are solely those set out in Sections 3.02 and 3.03, as applicable) that it is not classified, does not belong to nor is it associated with an Anti-Social Group, does not have an Anti-Social
Relationship and has not engaged in Anti-Social Conduct, whether directly or indirectly through a third party. 

  
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ARTICLE V 
 COVENANTS 

SECTION 5.01        Affirmative Covenants. So long as any portion of the
Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Borrower will: 

(a)        Compliance with Laws, Etc. (i) Comply, and
cause each member of the Consolidated Group to comply, with all applicable laws, rules, regulations and orders (such compliance to include, without limitation, compliance with ERISA and Environmental Laws), except to the extent that the failure to
so comply, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, and (ii) maintain in effect and enforce policies and procedures reasonably designed to promote compliance by the Borrower,
its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

(b)        Payment of Taxes, Etc. Pay and discharge, or cause
to be paid and discharged, before the same shall become delinquent, all taxes, assessments and governmental charges levied or imposed upon a member of the Consolidated Group or upon the income, profits or property of a member of the Consolidated
Group, in each case except to the extent that (i) the amount, applicability or validity thereof is being contested in good faith and by proper proceedings and with respect to which reserves in conformity with applicable accounting standards
have been provided or (ii) the failure to pay such taxes, assessments and charges, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

(c)        Maintenance of Insurance. Except where the failure
to do so would reasonably be expected to result in a Material Adverse Effect, maintain, and cause each member of the Consolidated Group to maintain, insurance with responsible and reputable insurance companies or associations (or pursuant to
self-insurance arrangements) in such amounts (after giving effect to any self-insurance which the Borrower believes (in the good faith judgement of management of the Borrower) is reasonable and prudent in light of the size and nature of its
business) and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which any member of the Consolidated Group operates. 

(d)        Preservation of Existence, Etc. Do, or cause to be
done, all things necessary to preserve and keep in full force and effect its (i) existence and (ii) rights (charter and statutory) and franchises; provided, however, that the Borrower may consummate any merger or consolidation
permitted under Section 5.02(b); and provided further that the Borrower shall not be required to preserve any such right or franchise if the management of the Borrower shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Borrower and that the loss thereof is not disadvantageous in any material respect to the Lenders. 

(e)        Visitation Rights. At any reasonable time and from
time to time during normal business hours (but not more than once annually if no Event of Default has occurred and is continuing), upon no less than ten (10) days’ prior notice to the Borrower, permit the Administrative Agent or any of the
Lenders, or any agents or representatives thereof coordinated through the Administrative Agent, to examine and make copies of and abstracts from the records and books of account, and visit the properties, of the Consolidated Group, and to discuss
the affairs, finances and accounts of the Consolidated Group with any of the members of the senior treasury staff of the Borrower. 

(f)        Keeping of Books. Keep, and cause each of its
Subsidiaries to keep, proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Consolidated Group sufficient to permit the preparation of financial
statements in accordance with IFRS. 

  
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(g)        Maintenance of Properties, Etc. Cause all of its
properties that are used or useful in the conduct of its business or the business of any member of the Consolidated Group to be maintained and kept in good condition, repair and working order (ordinary wear and tear excepted) and supplied with all
necessary equipment, and cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be
properly and advantageously conducted at all times, except, in each case, where the failure to do so would not reasonably be expected to result in a Material Adverse Effect. 

(h)        [reserved]. 

(i)        Reporting Requirements. Furnish to the
Administrative Agent for further distribution to the Lenders: 

(i)        as soon as available and in any event within 60 days after
the end of each of the first three quarters of each fiscal year of the Borrower, a Consolidated balance sheet of the Consolidated Group as of the end of such quarter and Consolidated statements of income and cash flows of the Consolidated Group for
the period commencing at the end of the previous fiscal year and ending with the end of such quarter, duly certified by the Chief Financial Officer or the Treasurer of the Borrower as having been prepared in accordance with IFRS (subject to the
absence of footnotes and year end audit adjustments); 

(ii)        as soon as available and in any event within 120 days
after the end of each fiscal year of the Borrower, a copy of the annual audit report for such year for the Consolidated Group, containing a Consolidated balance sheet of the Consolidated Group as of the end of such fiscal year and Consolidated
statements of income and cash flows of the Consolidated Group for such fiscal year, in each case accompanied by an unqualified opinion or an opinion reasonably acceptable to the Required Lenders by KPMG AZSA LLC or other independent public
accountants of recognized national standing; 

(iii)        simultaneously with each delivery of the financial
statements referred to in subclauses (i)(i) and (i)(ii) of this Section 5.01, a certificate of the Chief Executive Officer, Chief Financial Officer or the Treasurer of the Borrower in substantially the form of Exhibit C hereto certifying that
no Default or Event of Default has occurred and is continuing (or if such event has occurred and is continuing the actions being taken by the Borrower to cure such Default or Event of Default), including, if such covenant is tested at such time,
setting forth in reasonable detail the calculations necessary to demonstrate compliance with Section 5.03; 

(iv)        as soon as possible and in any event within five days
after any Responsible Officer of the Borrower shall have obtained knowledge of the occurrence of each Default continuing on the date of such statement, a statement of a Responsible Officer of the Borrower setting forth details of such Default and
the action that the Borrower has taken and proposes to take with respect thereto; 

(v)        promptly after the sending or filing thereof, copies of all
reports that the Borrower sends to any of its securityholders, in their capacity as such, and copies of all reports and registration statements that members of the Consolidated Group file with the Prime Minister of Japan through the Financial
Services Agency of Japan, the Securities and Exchange Commission or any national securities exchange; 

(vi)        promptly after a Responsible Officer of the Borrower
obtains knowledge of the commencement thereof, notice of all actions, suits, investigations, litigations and proceedings before any court, governmental agency or arbitrator affecting the Consolidated Group of the type described in

  
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Section 4.01(f)(b) subject, in each case, to any confidentiality, legal or regulatory restrictions relating to the supply
of such information; 
 (vii)        at any time following the
Effective Date, if the Borrower has incurred any other subordinated Debt of the same priority as the Yen HYB Loans (including issuance of any Yen HYB Bonds), the Borrower shall promptly notify the Agent and all the Lenders of the fact thereof
(including without exception the date of incurrence, the amount of incurrence, whether it constitutes equity, etc.); and 

(viii)        such other information respecting the Consolidated Group
as any Lender through the Administrative Agent may from time to time reasonably request. 
 The Borrower shall be deemed to
have delivered the financial statements and other information referred to in paragraphs (i), (ii) and (v) above when such financial statements and other information have been posted on the Borrower’s internet website or the website of
the Financial Services Agency of Japan, the Securities and Exchange Commission or any national securities exchange (in each case, to the extent such website is accessible by the Lenders without charge) and the Borrower has notified the
Administrative Agent. If the Administrative Agent requests hard copies of such financial statements and other information, the Borrower shall furnish these to the Administrative Agent provided that no request shall affect that delivery has
deemed to occur in accordance with the immediately preceding sentence. 

(j)        The Scheme and Related Matters. To the extent
applicable, the Borrower shall or it shall procure that the applicable members of the Consolidated Group shall: 

(i)        [reserved]. 

(ii)        Provide evidence that a Scheme Circular is issued and
dispatched as soon as is reasonably practicable and in any event within 28 days (or such longer period as may be agreed with the Panel) after the issuance of the Original Scheme Press Release unless, during that period the Borrower has elected to
convert the Target Acquisition from a Scheme to a Takeover Offer, in which case the Takeover Offer Document shall be issued and dispatched as soon as reasonably practicable and in any event within 28 days (or such longer period as may be agreed with
the Panel) after the issuance of the Offer Press Announcement. 

(iii)        Comply in all material respects with the City Code
(subject to any waivers or dispensations granted by the Panel or the Court) and all other applicable laws and regulations in relation to any Takeover Offer or Scheme. 

(iv)        Except as consented to by the Lead Arrangers and the
Arranger in writing (such consent not to be unreasonably withheld, delayed or conditioned) and save to the extent that following the issue of a Scheme Press Release or an Offer Press Announcement the Borrower elects to proceed with the Target
Acquisition by way of Takeover Offer or Scheme respectively, ensure that (i) if the Target Acquisition is effected by way of a Scheme, the Scheme Circular corresponds in all material respects to the terms and conditions of the Scheme as
contained in the Scheme Press Release to which it relates or (ii) if the Target Acquisition is effected by way of a Takeover Offer, the Takeover Offer Document corresponds in all material respects to the terms and conditions of the Takeover Offer as
contained in the corresponding Offer Press Announcement, subject to any variation required by the Court and to any variations required by the Panel or which are not materially adverse to the interests of the Lenders (or where the prior written
consent of the Lead Arrangers and the Arranger has been given). 

  
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(v)        Ensure that the Scheme Documents or, if the Target
Acquisition is effected by way of a Takeover Offer, the Offer Documents, provided to the Lead Arrangers and the Arranger contain all the material terms and conditions of the Scheme or Takeover Offer, as at that date, as applicable. 

(vi)        Not make or approve any increase in the proposed amount of
cash consideration payable per Target Share or make any other acquisition of any Target Share (including pursuant to a Takeover Offer) at a price that results in an increase in the cash consideration payable per Target Share stated in the Original
Scheme Press Release, unless such modification in price is not materially adverse to the interests of the Lenders (or where the prior written consent of the Lead Arrangers and the Arranger has been given). 

(vii)        Except as consented to by the Lead Arrangers and the
Arranger in writing in the event that the matter is material to the interests of the Lenders (such consent not to be unreasonably withheld, delayed, or conditioned), not (i) amend or waive any term of the Scheme Documents or the Takeover Offer
Documents, as applicable, in a manner materially adverse to the interests of the Lenders from those in the Original Scheme Press Release, or (ii) if the Target Acquisition is proceeding as a Takeover Offer, amend or waive the Acceptance
Condition, save for, (A) in the case of clause (i), any amendment or waiver required by the Panel, the City Code, a court or any other applicable law, regulation or regulatory body, (B) in the case of clause (ii), a waiver of the
Acceptance Condition to permit the Takeover Offer to become unconditional with acceptance of Target Shares (excluding any shares held in treasury) which, when aggregated with all Target Shares owned by the Borrower (directly or indirectly),
represent not less than 75% of all Target Shares (excluding any shares held in treasury) as at the date on which the Takeover Offer is declared unconditional as to acceptances, (C) in the case of clause (i) and any condition detailed in
the Original Scheme Press Release, any waiver of a condition, which such condition would not have entitled the Borrower to lapse the Scheme or Takeover Offer (as the case may be) under rule 13.5(a) of the Takeover Code or (D) an extension of
the Long Stop Date (as defined in the Original Scheme Press Release) in the event that any condition in paragraphs 4(c) to (j) in Part A of Appendix 1 to the Original Scheme Press Release (or the equivalent provision in any Offer Press
Announcement) has not been satisfied by the date falling 12 months after the Bridge Facility Effective Date. 

(viii)        Not take any action which would require the Borrower to
make a mandatory offer for the Target Shares in accordance with Rule 9 of the City Code. 

(ix)        Provide the Administrative Agent with copies of each Offer
Document or Scheme Document (as applicable) and such information as it may reasonably request regarding, in the case of a Takeover Offer, the current level of acceptances subject to any confidentiality, legal, regulatory or other restrictions
relating to the supply of such information. 
 (x)        Promptly
deliver to the Administrative Agent the receiving agent certificate issued under Rule 10 of the City Code (if the Target Acquisition is being pursued pursuant to a Takeover Offer), any written agreement between the Borrower or its Affiliates and
Target to the extent material to the interests of the Lenders (as reasonably determined by the Borrower) in relation to the consummation of the Target Acquisition (in each case, upon such documents or agreements being entered into by a member of the
Consolidated Group), and all other material announcements and documents published by the Borrower or delivered by the Borrower to the Panel pursuant to the Takeover Offer or Scheme (other than the cash confirmation) and all legally binding
agreements entered into by the Borrower in connection with a Takeover Offer or Scheme, in each case to the extent the Borrower, acting reasonably, anticipates they will be material to the interests of the Lenders in connection with the Transactions,
except to the extent it is prohibited by legal (including contractual) or regulatory obligations from doing so. 

  
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(xi)        In the event that a Scheme is switched to a Takeover Offer
or vice versa, (which the Borrower shall be entitled to do on multiple occasions provided that it complies with the terms of this Agreement), (i) within the applicable time periods provided in the definition of “Mandatory Cancellation
Event”, procure that an Offer Press Announcement or Scheme Press Release, as the case may be, is issued, and (ii) except as consented to by the Lead Arrangers and the Arranger in writing where such matters are material to the interests of
the Lenders (such consent not to be unreasonably withheld, delayed or conditioned), ensure that (A) where the Target Acquisition is then proceeding by way of a Takeover Offer, the terms and conditions contained in the Offer Document include the
Acceptance Condition and (B) except for any reference in the Scheme Documents to the recommendation of the Target Acquisition and the Scheme to the Scheme Shareholders by the board of directors of the Target, the conditions to be satisfied in
connection with the Target Acquisition and contained in the Offer Documents or the Scheme Documents (whichever is applicable) are otherwise consistent in all material respects with those contained in the Offer Documents or Scheme Documents
(whichever applied to the immediately preceding manner in which it was proposed that the Target Acquisition would be effected) (to the extent applicable for the legal form of a Takeover Offer or Scheme, as the case may be), in each case other than
(i) in the case of clause (B), any changes permitted or required by the Panel or the City Code or any court of competent jurisdiction or are required to reflect the change in legal form to a Takeover Offer or Scheme or (ii) changes that
could have been made to the Scheme or a Takeover Offer in accordance with the relevant provisions of this Agreement or which reflect the requirements of the terms of this Agreement and the manner in which the Target Acquisition may be effected,
including, without limitation, changes to the price per Target Share which are made in accordance with the relevant provisions of this Agreement or any other agreement between the Borrower and the Lead Arrangers and the Arranger. 

(xii)        In the case of a Takeover Offer, (i) not declare the
Takeover Offer unconditional as to acceptances until the Acceptance Condition has been satisfied and (ii) promptly upon the Borrower acquiring Target Shares which represent not less than 90% in nominal value of the Target Shares to which the
Takeover Offer relates or, if the Takeover Offer relates to Target Shares of different classes, not less than 90% in nominal value of the shares of any class to which the Takeover Offer relates, ensure that notices under Article 117 of the Jersey
Companies Law in respect of Target Shares that the Borrower has not yet agreed to directly or indirectly acquire are issued. 

(xiii)        In the case of a Scheme, within 90 days of the Scheme
Effective Date, and in relation to a Takeover Offer, within 90 days after the later of (i) the Closing Date and (ii) the date upon which the Borrower (directly or indirectly) owns and/or has agreed to own or acquire and has received valid
acceptances (which have not been withdrawn or cancelled) of Target Shares (excluding any shares held in treasury) in respect of, which, when aggregated with all other Target Shares owned by the Borrower (directly or indirectly), represent not less
than 75% of all Target Shares (excluding any shares held in treasury), procure that such action as is necessary is taken to de-list the Target Shares from the Official List of the Financial Conduct Authority and to cancel trading in the Target
Shares on the main market for listed securities of the London stock exchange and as soon as reasonably practicable thereafter, and subject always to the Jersey Companies Law and any applicable listing rules, use its reasonable endeavors to
re-register Target as a private limited company. 

(xiv)        Except as consented by the Lead Arrangers and the
Arranger in writing, not give its consent with respect to any frustrating action of the Target pursuant to Rule 21.1(c)(ii) of the City Code. 

(k)        Use of Proceeds. The proceeds of the Advance will be
used in accordance with the provisions of Section 2.16. No part of the proceeds of the Advance will be used, whether directly or indirectly, for any 

  
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purpose that entails a violation of any of the Regulations of the Board, including Regulations U and X. The Borrower will not
request the Borrowing, and the Borrower shall not use, and the Borrower shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of the Borrowing (i) for payments to
any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such
activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States, Japan, the United Kingdom or in a European Union member state or (iii) in any other manner that would result
in the violation of any Sanctions applicable to any party hereto. 

(l)        Anti-Social Conduct; Anti-Social Groups. Each party
hereto shall ensure that (i) it is not classified as an Anti-Social Group, nor shall any such party have any Anti-Social Relationship nor engage in any Anti-Social Conduct, whether directly or indirectly through a third party and (ii) it
shall not make any claim against any other party hereto for any damages or losses suffered or incurred as a result of such other party exercising its rights under this Agreement as a result of any breach of this clause (l) or any
misrepresentation in connection with Section 4.02. 

(m)        Pari Passu Ranking. Notwithstanding anything to the
contrary contained herein or in any other provision of this Agreement, the Borrower shall ensure that the Advance and all related obligations of the Borrower under this Agreement rank at least pari passu with the claims of all its other unsecured
and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies. 

The Borrower hereby acknowledges that the Administrative Agent, the Lead Arrangers and/or the Arranger will make available to the Lenders
materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar secure electronic system (the
“Platform”). 
 Certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to the Borrower or its respective Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such
Persons’ securities. The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC”; (x) by marking Borrower Materials
“PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to treat the Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for
purposes of the FIEA or United States Federal and state securities laws (provided, however, that to the extent the Borrower Materials constitute Information, they shall be treated as set forth in Section 9.08); (y) all Borrower Materials
marked “PUBLIC” are permitted to be made available through a portion of the Platform designed “Public Side Information”; and (z) the Administrative Agent and the Lead Arrangers and the Arranger shall be entitled to treat any
Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation to
mark any Borrower Materials “PUBLIC.” 
 For purposes of the foregoing paragraph, with respect to the Borrower or its affiliates
or securities, the term “material non-public information” shall include, without limitation (i) “material facts” (juyo jijitsu) as prescribed in Paragraph 2, Article 166 (Prohibited Acts of Corporate Insiders) of the
FIEA and/or (iii) “issuer related information” (hojin kankei jyouho) as defined in Item 14, Paragraph 4, Article 1 of the Cabinet Office Ordinance on Financial Instruments Business, etc. (Cabinet Office Ordinance
No. 52 of August 6, 2007), meaning any information relating to the operation, business or asset of the Borrower which is material non-public information and, if it were made public, would likely to have an effect on the investment decision
of the investors and any non-public information in relation to a launch or a cancellation of a TOB of shares of common stock of the Borrower. 

  
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SECTION 5.02        Negative Covenants. So long as any portion of the Advance
shall remain unpaid or any Lender shall have any Commitment hereunder, the Borrower will not: 

(a)        Liens, Etc. Incur, issue, assume or guarantee, or
permit any member of the Consolidated Group to incur, issue, assume or guaranty, at any time, any Borrowed Debt secured by a Lien on any property or asset now owned or hereafter acquired by the Borrower or any member of the Consolidated Group (other
than Unrestricted Margin Stock), without effectively providing that the Advance outstanding at such time (together with, if the Borrower shall so determine, any other Borrowed Debt of the Borrower or such member of the Consolidated Group existing at
such time or thereafter created that is not subordinate to the Advance) shall be secured equally and ratably with (or prior to) such secured Borrowed Debt, so long as such secured Borrowed Debt shall be so secured, unless, after giving effect
thereto, the aggregate amount of all such secured Borrowed Debt would not exceed $2,500,000,000; provided, however, that this Section 5.02(a) shall not apply to, and there shall be excluded from secured Borrowed Debt in any computation under
this Section 5.02(a), Borrowed Debt secured by: 

(i)        Liens on property of, or on any shares of stock or Borrowed
Debt of, any Person existing at the time such Person becomes a member of the Consolidated Group; 

(ii)        Liens in favor of any member of the Consolidated Group;

 (iii)        Liens incurred in the ordinary course of business to
secure the performance of tenders, statutory or regulatory obligations, surety, stay, customs and appeal bonds, statutory bonds, bids, leases, government contracts, trade contracts, performance and return of money bonds and other similar obligations
(exclusive of obligations for the payment of borrowed money); 

(iv)        Liens on property of a member of the Consolidated Group in
favor of the United States or any State thereof, or any department, agency or instrumentality or political subdivision of the United States or any State thereof, or in favor of any other country, or any political subdivision thereof, to secure
partial, progress, advance or other payments pursuant to any contract or statute; 

(v)        Liens on property (including that of the Target and its
Subsidiaries), shares of stock or Borrowed Debt existing at the time of acquisition thereof (including acquisition through merger or consolidation) or to secure the payment of all or any part of the purchase price or construction or improvement cost
thereof or to secure any Debt incurred prior to, at the time of, or within 180 days after, the acquisition of such property or shares or Borrowed Debt or the completion of any such construction or improvement for the purpose of financing all or any
part of the purchase price or construction or improvement cost thereof; 

(vi)        Liens existing on the Effective Date; 

(vii)        (x) bankers’ Liens, rights of setoff, revocation,
refund, chargeback or overdraft protection, and other similar Liens existing solely with respect to cash and cash equivalents on deposit in one or more accounts maintained by the Borrower or any member of the Consolidated Group, in each case granted
in the ordinary course of business in favor of the bank or banks with which such accounts are maintained, securing amounts owing to such bank with respect to cash management and operating account arrangements, including those involving pooled
accounts and netting arrangements and (y) Liens or rights of setoff against credit balances of the Borrower or any member of the Consolidated Group with credit card issuers or credit card processors or amounts owing by payment card issuers or
payment card processors to Borrower or any member of the Consolidated Group in the ordinary course of business; 

  
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(viii)        Liens arising from any monetization, securitization or
other financing of accounts receivable or other receivables (including any related rights or claims) or in connection with factoring programs entered into in the ordinary course of business and consistent with past practice and on a non-recourse
basis to the Borrower and its Subsidiaries; provided, that such Liens do not encumber any property or assets other than the accounts receivable or other receivables (including any related rights or claims) subject to such monetization,
securitization, financing or factoring arrangement and any proceeds of the foregoing; provided, further, that the aggregate principal amount of the obligations secured by such Liens shall not exceed (x) prior to the Closing Date,
$750,000,000 or (y) on or after the Closing Date, $1,500,000,000. 

(ix)        Liens incurred in connection with pollution control,
industrial revenue or similar financing; 
 (x)        survey
exceptions and such matters as an accurate survey would disclose, easements, trackage rights, leases, licenses, special assessments, rights of way covenants, conditions, restrictions and declarations on or with respect to the use of real property,
servicing agreements, development agreements, site plan agreements and other similar encumbrances incurred in the ordinary course of business and title defects or irregularities that are of a minor nature and that, in the aggregate, do not interfere
in any material respect with the ordinary conduct of the business of the Borrower or any member of the Consolidated Group; and 

(xi)        any extension, renewal or replacement (or successive
extensions, renewals or replacements), as a whole or in part, of any Borrowed Debt secured by any Lien referred to in subclauses (i) through (x) of this Section 5.02(a); provided, that (i) such extension renewal or
replacement Lien shall be limited to all or a part of the same property, shares of stock or Debt that secured the Lien extended, renewed or replaced (plus improvements on such property) and (ii) the Borrowed Debt secured by such Lien at such
time is not increased. 
 (b)        Mergers, Etc. Merge or
consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (other than Unrestricted Margin Stock) (whether now owned or hereafter
acquired) to, any Person, or permit any member of the Consolidated Group to do so, except that: 

(i)        any member of (x) the Consolidated Group other than
the Borrower may merge or consolidate with or into or (y) the Consolidated Group may dispose of assets to, in each case, any other member of the Consolidated Group; 

(ii)        the Borrower may merge with any other Person so long as
(A) the Borrower is the surviving entity or (B) the surviving entity shall succeed, by agreement reasonably satisfactory in form and substance to the Required Lenders, to all of the businesses and operations of the Borrower and shall
assume all of the rights and obligations of the Borrower under this Agreement and the other Loan Documents (it being understood that notwithstanding the foregoing, the consummation of the Transactions shall not be prohibited by this
Section 5.02(b) or otherwise pursuant hereto); 

(iii)        any member of the Consolidated Group (other than the
Borrower) may merge or consolidate with or into another Person, convey, transfer, lease or otherwise dispose of all or any portion of its assets so long as (A) the consideration received in respect of such merger, consolidation, conveyance,
transfer, lease or other disposition is at least equal to the fair market value of such assets and (B) no Material Adverse Effect would reasonably be expected to result from such merger, consolidation, conveyance, transfer, lease or other
disposition; 

  
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provided, in the cases of clause (i), (ii) and (iii) hereof, that no Default or Event of Default (or, during the Certain Funds
Period, no Certain Funds Default) shall have occurred and be continuing at the time of such proposed transaction or would result therefrom. 

(c)        Accounting Changes. Change the Borrower’s
fiscal year-end from March 31 of each calendar year; provided that the Borrower may change its fiscal year-end to December 31 of each calendar year in connection with the Transactions. 

(d)        Change in Nature of Business. Make any material
change in the nature of the business of the Consolidated Group, taken as a whole, from that carried out by the Borrower and its Subsidiaries (other than the Target and its Subsidiaries) on the Effective Date and by Target and its Subsidiaries on the
Closing Date; it being understood that this Section 5.02(d) shall not prohibit (i) the Transactions or (ii) members of the Consolidated Group from conducting any business or business activities incidental or related to such business as
carried on as of the Effective Date (in the case of the Borrower and its Subsidiaries other than the Target and its Subsidiaries) or as of the Closing Date (in the case of the Target and its Subsidiaries) or any business or activity that is
reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary thereto. 

(e)        Subsidiary Debt. Permit any of its Subsidiaries to
create or suffer to exist any Borrowed Debt other than: 

(i)        Borrowed Debt existing on the Effective Date and disclosed
to the Lenders prior to the date hereof (the “Existing Debt”); 

(ii)       Borrowed Debt of any Person (including the Target or any of its
Subsidiaries) that becomes a Subsidiary after the date hereof; provided that such Borrowed Debt exists at the time such Person becomes a Subsidiary of the Borrower and is not created in contemplation of or in connection with such Person
becoming a Subsidiary of the Borrower; 
 (iii)      Borrowed Debt of any
Subsidiary owed to any member of the Consolidated Group; 
 (iv)      Borrowed
Debt secured by Liens of the type described in and to the extent permitted by Sections 5.02(a)(iii), (iv), (v), (ix) and (xi) (to the extent it applies to Borrowed Debt secured by Liens referred to in Sections 5.02(a)(iii), (iv),
(v) or (ix)); 
 (v)       Borrowed Debt under ordinary course
working capital or overdraft facilities; 
 (vi)      Borrowed Debt consisting
of commercial paper; 
 (vii)     Borrowed Debt consisting of purchase money
indebtedness; and 
 (viii)    Borrowed Debt in an aggregate outstanding principal
amount at any time not exceeding the greater of (x) $2,500,000,000 and (y) 15% of Consolidated Tangible Assets (determined by reference to the financial statements most recently delivered pursuant to Section 5.01(i) (or prior to the
first such delivery, the financial statements referred to in Section 4.01(e))); 
 For purposes of calculating the
aggregate principal amount of the Consolidated Tangible Assets of the Borrower on any date, the currency exchange rate used for such calculation shall be the rate used in the annual or semi-annual financial statements for such date; provided,
however, that if the Borrower determines that an average exchange rate is a more accurate reflection of the value of such currency over such four consecutive fiscal quarter period, the currency exchange rate used may be, at the option of the
Borrower, the currency exchange rate used for the statement of income of the Borrower for such fiscal half year. 

  
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SECTION 5.03        Financial Covenant. Consolidated Net Debt to Consolidated
EBITDA. Beginning on the later of (i) the last day of the first fiscal half year ending at least one full fiscal quarter after the Closing Date (which, for the avoidance of doubt, shall be no later than March 31, 2020) and (ii)(A) if the
fiscal year-end is December 31, June 30, 2019 or (B) if the fiscal year-end is March 31, September 30, 2019 and on the last day of each fiscal half year ending thereafter, the Borrower will not permit, as of the last day of any such
fiscal half year (each such date, the “Testing Date”), the ratio of (x) Consolidated Net Debt at such time to (y) Consolidated EBITDA of the Borrower for the four consecutive fiscal quarter period ending as of such date to
exceed the ratio level set forth in the applicable table below for such applicable Testing Date: 
  

			
	
Testing Date (if fiscal year-end is March 31)

 
	 	 Ratio Level

 

	 September 30, 2019 (if the Closing Date occurs on or prior to
June 30, 2019)
  
	 	5.95 to 1.00
	
March 31, 2020 and September 30, 2020
  

 
	 	5.35 to 1.00

  

			
	
Testing Date (if fiscal year-end is December 31)

 
	 	 Ratio Level

 

	 June 30, 2019 (if the Closing Date occurs on or prior to
March 31, 2019) and December 31, 2019
  
	 	5.95 to 1.00
	 June 30, 2020

 
	 	 5.35
to 1.00
  

 If a Testing Date would have occurred in the fiscal quarter in which the Borrower changed its
fiscal year-end to December 31 (the “Fiscal Year Change”) but does not because of such Fiscal Year Change, the last day of such fiscal quarter shall be a Testing Date notwithstanding the Fiscal Year Change. 

Notwithstanding the foregoing, in the event that the Borrower incurs indebtedness in an amount no less than $5,000,000,000 in
connection with an Acquisition and the Borrower’s Public Debt Rating is equal to or higher than each of (x) Baa3 from Moody’s and (y) BBB- from S&P, then the Borrower shall be permitted on one (1) occasion during the
term of this Agreement to allow the maximum ratio of Consolidated Net Debt to Consolidated EBITDA permitted pursuant this Section 5.03 to be increased to 5.00 to 1.00 (if the then applicable required ratio level is lower than 5.00 to 1.00);
provided that on the second Testing Date after the Testing Date on which such maximum ratio was increased to 5.00 to 1.00, the maximum ratio permitted under this Section 5.03 shall be 4.50 to 1.00 and on the fourth Testing Date after the
Testing Date on which such maximum ratio was increased to 5.00 to 1.00, the maximum ratio permitted under this Section 5.03 shall be 4.00 to 1.00. 

For purposes of calculating the aggregate principal amount of the Consolidated Net Debt of the Borrower on any such date, the
currency exchange rate used for such calculation shall be the rate used in the annual or semi-annual financial statements for such date; provided, however, that if the Borrower determines that an average exchange rate is a more accurate reflection
of the value of such currency over such four consecutive fiscal quarter period, the currency exchange rate used may be, at the option of the Borrower, the currency exchange rate used for the statement of income of the Borrower for such fiscal half
year. 
 ARTICLE VI 
 EVENTS
OF DEFAULT 
 SECTION 6.01        Events of Default. If any of the
following events (“Events of Default”) shall occur and be continuing: 

(a)        The Borrower shall fail (i) to pay any principal of
the Advance when the same becomes due and payable or (ii) to pay any interest on the Advance or make any payment of fees or other amounts payable under this Agreement within five Business Days after the same becomes due and payable; or 

  
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(b)        Any representation or warranty made by the Borrower herein
or in any other Loan Document (or any of its officers or directors) in connection with this Agreement or in any certificate or other document furnished pursuant to or in connection with this Agreement, if any, in each case shall prove to have been
incorrect in any material respect when made or deemed made; or 

(c)        (i) The Borrower shall fail to perform or observe any term,
covenant or agreement contained in Section 5.01(d)(i), 5.01(i)(iv), 5.01(j), 5.02(a), 5.02(b), 5.02(d), 5.03 or (ii) the Borrower shall fail to perform or observe any term, covenant or agreement contained in Section 5.01(e) or clauses
(i)-(iii) or (v)-(vii) of Section 5.01(i) if such failure shall remain unremedied for 10 Business Days after written notice thereof shall have been given to the Borrower by the Administrative Agent or any Lender, or (iii) the
Borrower shall fail to perform or observe any other term, covenant or agreement contained in this Agreement, if any, in each case on its part to be performed or observed if such failure shall remain unremedied for 30 days after written notice
thereof shall have been given to the Borrower by the Administrative Agent or any Lender; or 

(d)        The Borrower or any Significant Subsidiary shall fail to
pay any principal of or premium or interest on any Debt that is outstanding in a principal amount, or, in the case of any Hedge Agreement, having a maximum Agreement Value, of at least $200,000,000 in the aggregate (but excluding Debt outstanding
hereunder) of the Borrower or such Significant Subsidiary, when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace
period, if any, specified in the agreement or instrument relating to such Debt; or any other event shall occur or condition shall exist under any agreement or instrument relating to any such Debt and shall continue after the applicable grace period,
if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such Debt; or any such Debt shall be declared to be due and payable, or required to be
prepaid or redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in each case prior to the stated maturity
thereof; it being understood and agreed that notwithstanding the foregoing, the delivery of a notice of prepayment by one or more lenders under the Existing Target Indebtedness as a result of the occurrence of the Target Acquisition will not result
in an Event of Default under this clause (d); provided that this clause (d) will apply to the extent there is a failure to make any such prepayment when the same becomes due and payable; or 

(e)        The Borrower or any Significant Subsidiary shall generally
not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Borrower or any
Significant Subsidiary seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy,
insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any
such proceeding instituted against it (but not instituted by it), such proceeding shall remain undismissed or unstayed for a period of 60 days; or the Borrower or any Significant Subsidiary shall take any corporate action to authorize any of the
actions set forth above in this Section 6.01(e). With respect to the Borrower or any Significant Subsidiary organized under the laws of Japan, the following shall constitute an Event of Default: if (i) the Borrower makes an express
declaration or implicit declaration of its inability to pay its debts to its creditors generally (shiharai teishi); (ii) a bank clearinghouse refuses to process the Borrower’s checks (tegata torihiki teishi shobun); or
densai.net Co., Ltd. (iii) an order is issued by a court for the attachment (whether preliminary or otherwise) or preservation of the Borrower’s material property, estate or other right and is not discharged within sixty (60) days;
(iv) a receiver or trustee is appointed for all or a portion of the property or estate of the Borrower; (v) an 

  
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involuntary petition for commencement of bankruptcy (hasan), corporate reorganization (kaisha kosei), civil
rehabilitation (minji saisei), special liquidation (tokubetsu seisan) or similar proceedings are filed against the Borrower and are not discharged within sixty (60) days; (vi) the Borrower files a voluntary petition
(including a petition filed by a director of the Borrower) to commence, or a court of competent jurisdiction approves an involuntary petition with respect to and commences the procedure of, any of the proceedings specified in subparagraph
(v) above; (vii) a voluntary petition to commence a special conciliation proceeding (tokutei choutei); or (viii) the Borrower adopts a resolution for liquidation at a meeting of its shareholders; or 

(f)        Any one or more judgments or orders for the payment of
money in excess of $200,000,000 shall be rendered against a member of the Consolidated Group and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be any period of
60 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that, for purposes of determining whether an Event of Default has
occurred under this Section 6.01(f), the amount of any such judgment or order shall be reduced to the extent that (A) such judgment or order is covered by a valid and binding policy of insurance between the defendant and the insurer
covering payment thereof and (B) such insurer, which shall be rated at least “A” by A.M. Best Company, has been notified of, and has not disputed the claim made for payment of, such judgment or order; or 

(g)        Any Person shall become an owner (hoyusha) or two or
more Persons shall become joint owners (kyodo hoyusha) (in each case within the meaning of Articles 27-23 of the FIEA) of Voting Stock of the Borrower (or other securities convertible into or exchangeable for such Voting Stock) representing
50% or more of the combined voting power of all Voting Stock of the Borrower (as calculated pursuant to Article 27-23, Paragraph 4 of the FIEA); or 

(h)        One or more of the following shall have occurred or is
reasonably expected to occur, which in each case would reasonably be expected to result in a Material Adverse Effect: (i) any ERISA Event; (ii) the partial or complete withdrawal of the Borrower or any ERISA Affiliate from a Multiemployer
Plan; or (iii) the termination of a Multiemployer Plan; or 

(i)        This Agreement shall cease to be valid and enforceable
against the Borrower (except to the extent it is terminated in accordance with its terms) or the Borrower shall so assert in writing; 

then, and in any such event (subject to Section 3.04), the Administrative Agent (i) shall at the request, or may with the consent,
of the Required Lenders, by notice to the Borrower, declare the obligation of each Lender to make the Advance to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the
Required Lenders, by notice to the Borrower, declare the Advance, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Advance, all such interest and all such amounts shall become and
be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower; provided, however, (but for the avoidance of doubt, always subject to Section 3.04) that
in the event of an Event of Default under Section 6.01(e), (A) the Commitment of each Lender shall automatically be terminated and (B) the Advance, all such interest and all such amounts shall automatically become and be due and
payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Borrower. 

Notwithstanding anything in this Agreement to the contrary, for a period commencing on the Closing Date and ending on the date
falling 180 days after the Closing Date (the “Clean-up Date”), notwithstanding any other provision of any Loan Document, any breach of covenants, misrepresentation or other default which arises with

  
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respect to the Target Group will be deemed not to be a breach of representation or warranty, a breach of covenant or an Event of Default, as
the case may be, if: 
 (i)    it is capable of remedy and reasonable steps are being taken to remedy
it; 
 (ii)    the circumstances giving rise to it have not knowingly been procured by or approved by
the Borrower; and 
 (iii)  it is not reasonably likely to have a Material Adverse Effect. 

If the relevant circumstances are continuing on or after the Clean-up Date, there shall be a breach of representation or warranty, breach of
covenant or Event of Default, as the case may be, notwithstanding the above. 
 ARTICLE VII 

THE AGENTS 

SECTION 7.01        Authorization and Action. Each Lender hereby irrevocably
appoints Sumitomo Mitsui Banking Corporation (or any branch or Affiliate thereof designated by it) to act on its behalf as the Administrative Agent hereunder and authorizes the Administrative Agent to take such actions on its behalf and to exercise
such powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article VII (other than the third sentence of Section 7.04) are
solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have rights as a third party beneficiary of any of such provisions (other than the third sentence of Section 7.04). 

SECTION 7.02        Administrative Agent Individually  . The Person
serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity as a Lender. Such Person and its Affiliates may
accept deposits from, own securities of, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any member of the Consolidated Group or other Affiliate thereof as if such
Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 
 SECTION
7.03        Duties of Administrative Agent; Exculpatory Provisions. 

(a)        The Administrative Agent’s duties hereunder and under the other Loan
Documents are solely ministerial and administrative in nature, and the Administrative Agent shall not have any duties or obligations except those expressly set forth herein or in any other Loan Document. Without limiting the generality of the
foregoing, the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers but shall be required to act or refrain from acting (and shall be fully protected in so acting or refraining from
acting) upon the written direction of the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in any other Loan Document); provided that the Administrative Agent shall not be required to
take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent or any of its Affiliates to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt, any
action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law. 

  
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(b)        The Administrative Agent shall not be liable for any action taken or not
taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Section 9.01 or 6.01) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until
the Borrower or any Lender shall have given notice to the Administrative Agent describing such Default or Event of Default. 

(c)        The Administrative Agent shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty, representation or other information made or supplied in or in connection with this Agreement or any other Loan Document or the information memorandum distributed in connection with the
syndication of the Commitments and the Advance hereunder, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith or the adequacy, accuracy and/or completeness of
the information contained therein, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability,
effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article III or elsewhere herein, other than (but subject to the
foregoing clause (ii)) to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

(d)        Nothing in this Agreement or any other Loan Document shall require the
Administrative Agent or any of its Related Parties to carry out any “know your customer” or other checks in relation to any person on behalf of any Lender, and each Lender confirms to the Administrative Agent that it is solely responsible
for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Administrative Agent or any of its Related Parties. 

SECTION 7.04        Reliance by Administrative Agent. The Administrative Agent
shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting
or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have
been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the Effective Date, the making of the Advance or the Closing Date that by its terms must be fulfilled to
the satisfaction of a Lender, each Lender shall be deemed to have consented to, approved or accepted such condition unless (i) an officer of the Administrative Agent responsible for the transactions contemplated hereby shall have received
notice to the contrary from such Lender prior to the occurrence of the Effective Date, the making of the Advance or the Closing Date, as applicable, and (ii) in the case of a condition to the making of an Advance, such Lender shall not have
made available to the Administrative Agent such Lender’s ratable portion of such Borrowing. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it,
and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

SECTION 7.05        Delegation of Duties. The Administrative Agent may perform
any and all of its duties and exercise its rights and powers hereunder by or through any one or more sub agents appointed by the Administrative Agent. The Administrative Agent and any such sub agent may perform any and all of its duties and exercise
its rights and powers by or through their respective Related Parties. Each such sub agent and the Related Parties of the Administrative Agent and each such sub agent shall be entitled to the benefits of all provisions of this Article VII and
Section 9.04 (as though such sub-agents were the “Administrative Agent” under this Agreement) as if set forth in full herein with respect thereto. 

  
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SECTION 7.06        Resignation of Administrative Agent. 

(a)        The Administrative Agent may at any time give notice of its resignation to
the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right (with the consent of the Borrower, provided that no consent of the Borrower shall be required if an Event of Default has occurred
and is continuing), to appoint a successor, which shall be a bank with an office in the United States or Tokyo, or an Affiliate of any such bank with an office in the United States or Tokyo. If no such successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective
Date”), then the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders (and with the consent of the Borrower, provided that no consent of the Borrower shall be required if an Event of Default has
occurred and is continuing), appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the
Resignation Effective Date. 
 (b)        With effect from the Resignation Effective
Date (i) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (ii) except for any indemnity payments owed to the retiring Administrative Agent, all payments,
communications and determinations to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for
above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Administrative Agent (other than
any rights to indemnity payments owed to the retiring Administrative Agent), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder and under the other Loan Documents. The fees payable by the
Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the
other Loan Documents, the provisions of this Article VII and Section 9.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or
omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 
 SECTION
7.07        Non-Reliance on Administrative Agent and Other Lenders. Each Lender acknowledges and agrees that the extensions of credit made hereunder are commercial loans and not investments in a
business enterprise or securities. Each Lender further represents that it is engaged in making, acquiring or holding commercial loans in the ordinary course of its business and has, independently and without reliance upon the Administrative Agent,
any arranger of the credit facilities evidenced by this Agreement or any other Lender and their respective Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter
into this Agreement as a Lender, and to make, acquire or hold the Advance hereunder. Each Lender shall, independently and without reliance upon the Administrative Agent, any arranger of the credit facilities evidenced by this Agreement or any
amendment thereof or any other Lender and their respective Related Parties and based on such documents and information (which may contain material, non-public information within the meaning of the United States securities laws concerning the
Borrower and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished hereunder or
thereunder and in deciding whether or to the extent to which it will continue as a Lender or assign or otherwise transfer its rights, interests and obligations hereunder. Nothing in this Agreement shall oblige the Administrative Agent to conduct any
“know your customer” or other procedures in relation to any Person or any check on the extent to which any transaction contemplated by this Agreement might be unlawful for any Lender, on behalf of any Lender and each Lender confirms to the
Administrative Agent that it is solely responsible for any such procedures or check it is required to conduct and that it shall not rely on any statement in relation to such procedures or check made by the Administrative Agent. 

  
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SECTION 7.08        Indemnification. The Lenders agree to indemnify the
Administrative Agent (to the extent not reimbursed by the Borrower), ratably according to the respective principal amounts of the Advance made by each of them (or, if the Advance is not at the time outstanding, ratably according to the respective
amounts of their Commitments), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or
asserted against the Administrative Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Administrative Agent under this Agreement, in each case, acting in the capacity of Administrative Agent; provided
that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent’s gross negligence or willful
misconduct. Without limitation of the foregoing, each Lender agrees to reimburse the Administrative Agent promptly upon demand for its ratable share of any out-of-pocket expenses (including reasonable counsel fees) incurred by the Administrative
Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under,
this Agreement, to the extent that the Administrative Agent is not promptly reimbursed for such expenses by the Borrower. 

SECTION 7.09        Other Agents. None of the Lenders identified on the facing
page or signature pages of this Agreement as an “arranger” or “book runner” shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such.
Without limiting the foregoing, none of the Lenders so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders so identified in
deciding to enter into this Agreement or in taking or not taking action hereunder. 
 ARTICLE VIII 

[RESERVED] 

ARTICLE IX  

MISCELLANEOUS 

SECTION 9.01        Amendments, Etc. 

(a)        Except as provided in Section 2.08(c), no amendment or waiver of any
provision of this Agreement, nor consent to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders and the Borrower and acknowledged by the Administrative
Agent, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no amendment, waiver or consent shall, unless in writing, do any of the following: 

(i)        waive any of the conditions specified in Section 3.01,
3.02 or 3.03 unless signed by each Lender directly and adversely affected thereby; 

(ii)        increase or extend the Commitments of a Lender or subject
a Lender to any additional obligations, unless signed by such Lender; 

(iii)        reduce the principal of, or stated rate of interest on,
the Advance, the stated rate at which any fees hereunder are calculated or any other amounts payable hereunder, unless signed by each 

  
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Lender directly and adversely affected thereby; provided that only the consent of the Required Lenders shall be
necessary to amend the definition of “Default Interest” or to waive any obligation of the Borrower to pay Default Interest (except that no amendment entered into pursuant to the terms of Section 2.08(c) shall constitute a
reduction in the rate of interest or fees for purposes of this clause (ii)); 

(iv)         postpone any date fixed for any payment of principal of,
or interest on, the Advance or any fees or other amounts payable hereunder, unless signed by each Lender directly and adversely affected thereby; 

(v)        change the percentage of the Commitments or of the
aggregate unpaid principal amount of the Advance, or the number of Lenders, that, in each case, shall be required for the Lenders or any of them to take any action hereunder, unless signed by all Lenders; or 

(vi)        amend this Section 9.01, unless signed by all
Lenders. 
 and provided further that no amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Administrative Agent under this Agreement. Notwithstanding the foregoing, the Administrative Agent and the Borrower may amend any
Loan Document to correct any errors, mistakes, omissions, defects or inconsistencies, or to effect administrative changes that are not adverse to any Lender, and such amendment shall become effective without any further consent of any other party to
such Loan Document other than the Administrative Agent and the Borrower. 

(b)        [reserved]. 

(c)        If, in connection with any proposed amendment, waiver or consent requiring
the consent of “all Lenders,” “each Lender” or “each Lender directly and adversely affected thereby,” the consent of the Required Lenders is obtained, but the consent of other necessary Lenders is not obtained (any such
Lender whose consent is necessary but not obtained being referred to herein as a “Non-Consenting Lender”), then the Borrower may elect to replace a Non-Consenting Lender as a Lender party to this Agreement; provided that,
concurrently with such replacement, (i) another bank or other entity (which is reasonably satisfactory to the Borrower and the Administrative Agent) shall agree, as of such date, to purchase at par for cash the Advance and other obligations
under the Loan Documents due to the Non-Consenting Lender pursuant to an Assignment and Acceptance and to become a Lender for all purposes under this Agreement and to assume all obligations of the Non-Consenting Lender to be terminated as of such
date, and (ii) the Borrower shall pay to such Non-Consenting Lender in same day funds on the day of such replacement all principal, interest, fees and other amounts then accrued but unpaid to such Non-Consenting Lender by the Borrower to and
including the date of termination. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment
and delegation cease to apply. Each party hereto agrees that an assignment required pursuant to this paragraph may be effected pursuant to an Assignment and Acceptance executed by the Borrower, the Administrative Agent and the assignee (or, to the
extent applicable, an agreement incorporating an Assignment and Acceptance by reference pursuant to an approved electronic platform as to which the Administrative Agent and such parties are participants), and (b) the Lender required to make
such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented to an be bound by the terms thereof; provided that, following the effectiveness of any such assignment, the other parties
to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably requested by the applicable Lender, provided that any such documents shall be without recourse to or warranty by the parties thereto.

 SECTION 9.02        Notices, Etc. (a) All notices and other communications
provided for hereunder shall be in writing (including telecopier) and mailed, telecopied or hand delivered, if to the Borrower or the 

  
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Administrative Agent, to the address or telecopier number specified for such Person on Schedule II; or, as to the Borrower or the
Administrative Agent, at such other address as shall be designated by such party in a written notice to the other parties and, as to each other party, at such other address as shall be designated by such party in a written notice to the Borrower and
the Administrative Agent. All such notices and communications shall be effective three Business Days after being deposited in the mails, postage prepaid, or upon confirmation of receipt (except that if electronic confirmation of receipt is received
at a time that the recipient is not open for business, the applicable notice or communication shall be effective at the opening of business on the next business day of the recipient), respectively, except that notices and communications to the
Administrative Agent pursuant to Article II, III or VII shall not be effective until received by the Administrative Agent. Delivery by telecopier or other electronic communication of an executed counterpart of any amendment or waiver of any
provision of this Agreement or of any Exhibit hereto to be executed and delivered hereunder shall be effective as delivery of a manually executed counterpart thereof. 

(b)        THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”
THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY
KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person for losses, claims,
damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such
losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided,
however, that in no event shall any Agent Party have any liability to the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

(c)        Each Lender agrees that notice to it (as provided in the next sentence) (a
“Notice”) specifying that any communication has been posted to the Platform shall constitute effective delivery of such information, documents or other materials to such Lender for purposes of this Agreement. Each Lender agrees to
notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number and telecopier number to which notices and other communications may be sent and
(ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar
designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States federal and state
securities Laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its
securities for purposes of United States federal or state securities laws. 

(d)        With respect to notices and other communications hereunder from the
Borrower to any Lender, the Borrower shall provide such notices and other communications to the Administrative Agent, and the Administrative Agent shall promptly deliver such notices and other communications to any such Lender in accordance with
subsection (b) above or otherwise. 
 SECTION 9.03        No Waiver;
Remedies. No failure on the part of any Lender or the Administrative Agent to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any 

  
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single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. The remedies
herein provided are cumulative and not exclusive of any remedies provided by applicable law. 
 SECTION
9.04        Costs and Expenses. (a) The Borrower agrees to pay, upon demand, all reasonable and documented out-of-pocket costs and expenses of each Agent in connection with the preparation, execution,
delivery, administration, modification and amendment of this Agreement and the other documents to be delivered hereunder, including, (i) due diligence expenses, syndication expenses, travel expenses and (ii) the reasonable and documented
out-of-pocket fees, charges and expenses of a single primary counsel (and one local counsel in each relevant jurisdiction) for the Administrative Agent with respect thereto and with respect to advising the Agents as to their respective rights and
responsibilities under this Agreement. The Borrower further agrees to pay, upon demand, all reasonable and documented out-of-pocket costs and expenses of the Agents and the Lenders, if any, in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement and the other documents to be delivered hereunder, including, without limitation, reasonable and documented out-of-pocket fees and expenses of a single primary counsel and an additional
single local counsel in any relevant jurisdictions for the Agents and the Lenders and, solely in the case of an actual or perceived conflict of interest where the Agents notify the Borrower of the existence of such conflict in writing, one
additional counsel, in connection with the enforcement of rights under this Agreement. 

(b)        The Borrower agrees to indemnify and hold harmless each Agent and each
Lender and each of their Affiliates and their respective officers, directors, employees, agents and advisors (each, an “Indemnified Party”) from and against any and all claims, damages, losses, penalties, liabilities and expenses
(provided, that, the Borrower’s obligations to the Indemnified Parties in respect of fees and expenses of counsel shall be limited to the reasonable and documented out-of-pocket fees and expenses of one primary counsel for all Indemnified
Parties, taken together, (and, if reasonably necessary, one local counsel in any relevant jurisdiction) and, solely in the case of an actual or potential conflict of interest of which the Borrower is notified in writing, of one additional counsel
for all Indemnified Parties, taken together (and, if reasonably necessary, one local counsel in any relevant jurisdiction) (all such claims, damages, losses, penalties, liabilities and reasonable expenses being, collectively, the
“Losses”) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of, or in connection with the preparation for a defense of, any investigation,
litigation or proceeding arising out of, related to or in connection with (i) this Agreement, any of the transactions contemplated hereby or the actual or proposed use of the proceeds of the Advance or (ii) the actual or alleged presence
or release of Hazardous Materials on any property of the Consolidated Group or any Environmental Action relating in any way to the Consolidated Group, in each case whether or not such investigation, litigation or proceeding is brought by the
Borrower, its directors, shareholders or creditors or an Indemnified Party or any other Person or any Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated, except to the extent Losses
(A) are found in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnified Party or any of its Related Indemnified Parties (including any
breach of its obligations under this Agreement), (B) result from any dispute between an Indemnified Party and one or more other Indemnified Parties (other than against an Agent the Lead Arrangers, and/or the Arranger acting in such a role) or
(C) result from the claims of one or more Lenders solely against one or more other Lenders (and not claims by one or more Lenders against any Agent acting in its capacity as such except, in the case of Losses incurred by any Agent or any Lender
as a result of such claims, to the extent such Losses are found in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence, bad faith or willful misconduct (including
any breach of its obligations under this Agreement)) not attributable to any actions of a member of the Consolidated Group and for which the members of the Consolidated Group otherwise have no liability. The Borrower further agrees that no
Indemnified Party shall have any liability (whether direct or indirect, in contract, tort or otherwise) to the Borrower or any of its shareholders or creditors for or in connection with this Agreement or any of the transactions contemplated

  
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hereby or the actual or proposed use of the proceeds of the Advance, except to the extent such liability is found in a final non-appealable
judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence, bad faith or willful misconduct (including any breach of its obligations under this Agreement). In no event, however, shall any
Indemnified Party or the Borrower be liable on any theory of liability for any special, indirect, consequential or punitive damages (including, without limitation, any loss of profits, business or anticipated savings); provided that nothing
in this sentence shall limit the Borrower’s indemnity and reimbursement obligations to the extent that such special, indirect, consequential or punitive damages are included in any claim by a third party unaffiliated with any of the Indemnified
Parties with respect to which the applicable Indemnified Party is entitled to indemnification as set forth in the immediately preceding sentence. As used above, a “Related Indemnified Party” of an Indemnified Party means
(1) any Controlling Person or Controlled Affiliate of such Indemnified Party, (2) the respective directors, officers, or employees of such Indemnified Party or any of its Controlling Persons or Controlled Affiliates and (3) the
respective agents, advisors or representatives of such Indemnified Party or any of its Controlling Persons or Controlled Affiliates, in the case of this clause (3), acting at the instructions of such Indemnified Party, Controlling Person or
Controlled Affiliate; provided that each reference to a Controlling Person, Controlled Affiliate, director, officer or employee in this sentence pertains to a Controlling Person, Controlled Affiliate, director, officer or employee involved in
the structuring, arrangement, negotiation or syndication of the Bridge Facility and this Agreement. Notwithstanding the foregoing, this section 9.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims,
damages, etc. arising from any non-Tax claim. 
 (c)        If any payment of
principal of, or Conversion of, a Eurocurrency Rate Advance is made by the Borrower to or for the account of a Lender other than on the last day of the Interest Period for such Advance, as a result of (i) a payment or Conversion pursuant to
Section 2.06, 2.08(b), 2.08(c), 2.10 or 2.12, (ii) acceleration of the maturity of the Advance pursuant to Section 6.01, (iii) a payment by an Eligible Assignee to any Lender other than on the last day of the Interest Period for
such Advance upon an assignment of the rights and obligations of such Lender under this Agreement pursuant to Section 9.07 as a result of a demand by the Borrower pursuant to Section 9.07(a) or (iv) for any other reason, the Borrower
shall, upon demand by such Lender (with a copy of such demand to the Administrative Agent), pay to the Administrative Agent for the account of such Lender any amounts required to compensate such Lender for any additional reasonable losses, costs or
expenses that it may reasonably incur as a result of such payment or Conversion or as a result of any inability to Convert or exchange in the case of Section 2.08 or 2.12, including, without limitation, any reasonable loss (excluding loss of
anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance. In the case where the principal is repaid any day other than on the last
day of the Interest Period for such Advance, and the Reinvestment Rate falls below the applicable interest rate, the amount shall be calculated as the principal amount with respect to which such repayment was made, multiplied by the difference
between the Reinvestment Rate and the Eurocurrency Rate, and the actual number of days of the Remaining Period. “Remaining Period” means the period commencing on (and including) the day on which the repayment was made and ending on (and
including) the Maturity Date, and the “Reinvestment Rate” means the interest rate reasonably determined by an applicable Lender as the interest rate to be applied on the assumption that the prepaid principal amount will be reinvested in
the Tokyo interbank market, etc. during the Remaining Period. The calculation method for such Break Funding Cost shall be on a per diem basis, inclusive of the first day and exclusive of the last day, wherein divisions shall be done at the end of
the calculation, and fractions less than 1 Yen shall be rounded down. 

(d)        Without prejudice to the survival of any other agreement of the Borrower
hereunder, the agreements and obligations of the Borrower contained in Sections 2.11, 2.14 and 9.04 shall survive the payment in full of principal, interest and all other amounts payable hereunder. 

SECTION 9.05        Right of Setoff. Subject to Section 3.04, upon
(a) the occurrence and during the continuance of any Event of Default and (b) the making of the request or the granting of the consent specified by 

  
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Section 6.01 to authorize the Administrative Agent to declare the Advance due and payable pursuant to the provisions of Section 6.01, each
Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any
time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement, whether or
not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. Each Lender agrees promptly to notify the Borrower after any such setoff and application is made by such Lender; provided that the
failure to give such notice shall not affect the validity of such setoff and application. The rights of each Lender and its Affiliates under this Section 9.05 are in addition to other rights and remedies (including, without limitation, other
rights of setoff) that such Lender and its Affiliates may have. 
 SECTION
9.06        Binding Effect. This Agreement shall become effective upon the satisfaction (or waiver in accordance with Section 9.01) of the conditions set forth in Section 3.01 and, thereafter,
shall be binding upon and inure to the benefit of, and be enforceable by, the Borrower, the Administrative Agent and each Lender and their respective successors and permitted assigns, except that the Borrower shall have no right to assign their
rights hereunder or any interest herein without the prior written consent of the Lenders, and any purported assignment without such consent shall be null and void. 

SECTION 9.07        Assignments and Participations. (a) Each Lender may,
with the consent of the Borrower and the Administrative Agent, which consents shall not be unreasonably withheld or delayed (it being agreed that notwithstanding anything herein, including the proviso set forth below, during the Certain Funds Period
the Borrower may withhold such consent in its sole discretion unless a Certain Funds Default is continuing) and, in the case of the Borrower, (A) shall not be required while an Event of Default (or during the Certain Funds Period a Certain
Funds Default) has occurred and is continuing and (B) shall be deemed given if the Borrower shall not have objected within 10 Business Days following its receipt of notice of such assignment (and, within five days after demand by the Borrower
(with a copy of such demand to the Administrative Agent) to (i) any Defaulting Lender, (ii) any Lender that has made a demand for payment pursuant to Section 2.11 or 2.14, (iii) any Lender that has asserted pursuant to
Section 2.08(b) or 2.12 that it is impracticable or unlawful for such Lender to make a Eurocurrency Rate Advance or (iv) any Lender that fails to consent to an amendment or waiver hereunder for which consent of all Lenders (or all affected
Lenders) is required and as to which the Required Lenders shall have given their consent, such Lender will), assign to one or more Persons (other than natural persons) all or a portion of its rights and obligations under this Agreement (including,
without limitation, all or a portion of its Commitment and the Advance owing to it); provided, however, that: 

(A)        such consent shall not be required in the case of an
assignment to any other Lender or an Affiliate of any Lender, provided that (i) notice thereof shall have been given to the Borrower and the Administrative Agent and (ii) solely with respect to assignments during the Certain Funds Period,
such Affiliate has a rating for its long term unsecured and non-credit enhanced debt obligations which is not less than that of the relevant assigning Lender; 

(B)        each such assignment shall be of a constant, and not a
varying, percentage of all rights and obligations under this Agreement; 

(C)        except in the case of an assignment to a Person that,
immediately prior to such assignment, was a Lender or an assignment of all of a Lender’s rights and obligations under this Agreement, the amount of the Commitment of the assigning Lender being assigned pursuant to each such assignment
(determined as of the date of the Assignment and Acceptance with respect to such assignment) shall in no event be less than 100 million Yen; 

(D)        each such assignment shall be to an Eligible Assignee; 

  
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(E)        each such assignment made as a result of a demand by the
Borrower pursuant to this Section 9.07(a) shall be arranged by the Borrower with the approval of the Administrative Agent (which approval shall not be unreasonably withheld) and shall be either an assignment of all of the rights and obligations
of the assigning Lender under this Agreement or an assignment of a portion of such rights and obligations made concurrently with another such assignment or other such assignments that, in the aggregate, cover all of the rights and obligations of the
assigning Lender under this Agreement; 
 (F)        no Lender shall
be obligated to make any such assignment as a result of a demand by the Borrower pursuant to this Section 9.07(a), (1) so long as a Default shall have occurred and be continuing and (2) unless and until such Lender shall have received
one or more payments from one or more Eligible Assignees in an aggregate amount at least equal to the aggregate outstanding principal amount of the Advance owing to such Lender, together with accrued interest thereon to the date of payment of such
principal amount, and from the Borrower or one or more Eligible Assignees in an aggregate amount equal to all other amounts accrued to such Lender under this Agreement (including, without limitation, any amounts owing under Sections 2.11, 2.14 or
9.04(c)) and (3) unless and until the Borrower shall have paid (or caused to be paid) to the Administrative Agent a processing and recordation fee of 500,000 Yen; provided, however, that the Administrative Agent may, in its sole discretion,
elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire; and 

(G)        the parties to each such assignment (other than, except in
the case of a demand by the Borrower pursuant to this Section 9.07(a), the Borrower) shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance and, if such assignment
does not occur as a result of a demand by the Borrower pursuant to this Section 9.07(a) (in which case the Borrower shall pay the fee required by subclause (F)(3) of this Section 9.07(a)), a processing and recordation fee of 500,000 Yen;
provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an
Administrative Questionnaire. 
 Upon such execution, delivery, acceptance and recording, from and after the effective date specified in
each Assignment and Acceptance, (x) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of
a Lender hereunder and (y) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations
under this Agreement, except that such assigning Lender shall continue to be entitled to the benefit of Section 9.04(a) and (b) with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder
(and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). 

(b)        By executing and delivering an Assignment and Acceptance, the Lender
assignor thereunder and the assignee thereunder confirm to and agree with each other and the other parties hereto as follows: 

(i)          other than as provided in such Assignment and
Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement or any other instrument or document furnished pursuant hereto; 

(ii)         such assigning Lender makes no representation or
warranty and assumes no responsibility with respect to the financial condition of the Borrower or the performance or observance by the Borrower of any of its obligations under this Agreement or any other instrument or document furnished pursuant
hereto; 

  
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(iii)        such assignee confirms that it has received a copy of this
Agreement, together with copies of the financial statements referred to in Section 4.01(e) and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and
Acceptance; 
 (iv)        such assignee will, independently and
without reliance upon any Agent, such assigning Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this
Agreement; 
 (v)          such assignee confirms that it
is an Eligible Assignee; 
 (vi)         such assignee appoints
and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and
discretion as are reasonably incidental thereto; and 

(vii)        such assignee agrees that it will perform in accordance
with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as a Lender. 

(c)        Upon its receipt of an Assignment and Acceptance executed by an assigning
Lender and an assignee representing that it is an Eligible Assignee, the Administrative Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit B hereto, (i) accept such Assignment and
Acceptance, (ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the Borrower; provided that the Administrative Agent shall only be required to execute any such Assignment and Acceptance
once it has satisfied and complied with all necessary “know your customer” or similar checks under all applicable laws and regulations in relation to the proposed assignment to the assignee. 

(d)        The Administrative Agent, acting solely for this purpose as a non-fiduciary
agent of the Borrower, shall maintain at its address as set forth on Schedule II a copy of each Assignment and Acceptance delivered to and accepted by it and a register for the recordation of the names and addresses of the Lenders and the Commitment
of, and principal amount (and stated interest) of the Advance owing to, each Lender from time to time (the “Register”). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrower,
the Agents and the Lenders shall treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time
and from time to time upon reasonable prior notice. 
 (e)        Each Lender may
sell participations to one or more banks or other entities (other than the Borrower or any of its Affiliates or any natural person) in or to all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a
portion of its Commitment and the Advance owing to it) without the consent of the Administrative Agent or the Borrower; provided, however, that: 

(i)          such Lender’s obligations under this
Agreement (including, without limitation, its Commitment) shall remain unchanged; 

(ii)         such Lender shall remain solely responsible to the
other parties hereto for the performance of such obligations; 

(iii)        such Lender shall remain the Lender of the Advance for
all purposes of this Agreement; 

  
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(iv)        the Borrower, the Agents and the other Lenders shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement; and 

(v)        no participant under any such participation shall have any
right to approve any amendment or waiver of any provision of this Agreement, or any consent to any departure by the Borrower herefrom or therefrom, except to the extent that such amendment, waiver or consent would reduce the principal of, or stated
rate of interest on, the Advance or the stated rate at which any fees or any other amounts payable hereunder are calculated, in each case to the extent subject to such participation, or postpone any date fixed for any payment of principal of, or
interest on, the Advance or any fees or any other amounts payable hereunder, in each case to the extent subject to such participation. 

Each Lender shall promptly notify the Borrower after any sale of a participation by such Lender pursuant to this Section 9.07(e);
provided that the failure of such Lender to give notice to the Borrower as provided herein shall not affect the validity of such participation or impose any obligations on such Lender or the applicable participant. 

Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on
which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s interest in the Advance or other obligations under the Loan Documents (the “Participant Register”);
provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any participant or any information relating to a participant’s interest in any commitments, loans, letters
of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Treasury
Regulations Section 5f.103-1(c) and Proposed Treasury Regulations 1.163-5(b) (or any amended or successor version). The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose
name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative
Agent) shall have no responsibility for maintaining a Participant Register. 
 The Borrower agrees that each participant shall be entitled
to the benefits of Sections 2.11, 2.14 and 9.04(c) (subject to the requirements and limitations therein, including the requirements under Section 2.14(f) (it being understood that the documentation required under Section 2.14(f) shall be
delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such participant (A) agrees to be subject to the
provisions of Section 2.20 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Section 2.11 or 2.14, with respect to any participation, than its
participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from the occurrence, after the participant acquired the applicable participation, of any of the following:
(i) the adoption or taking effect of any law, rule, regulation or treaty or (ii) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental
Authority. 
 (f)        Any Lender may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section 9.07, disclose to the assignee or participant or proposed assignee or participant, any information relating to the Borrower furnished to such Lender by or on behalf
of the Borrower; provided that, prior to any such disclosure, the assignee or participant or proposed assignee or participant shall agree to preserve the confidentiality of any Information relating to the Borrower received by it from such Lender as
more fully set forth in Section 9.08. 

  
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(g)        Notwithstanding any other provision set forth in this Agreement, any Lender
may at any time create a security interest in all or any portion of its rights under this Agreement (including, without limitation and the Advance owing to it) to secure obligations of such Lender, including, without limitation, any pledge or
assignment to secure obligations in favor of any Federal Reserve Bank in accordance with Regulation A of the Board or any central bank having jurisdiction over such Lender. 

SECTION 9.08        Confidentiality. Each of the Administrative Agent and the
Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective managers, administrators, trustees, partners,
directors, officers, employees, agents, advisors and other representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority purporting to have jurisdiction over it or its Affiliates (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to
the extent required by applicable laws or regulations or by any subpoena or similar legal process (provided that the Administrative Agent or such Lender, as applicable, agrees that it will, to the extent practicable and other than with respect to
any audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising examination or regulatory authority, notify the Borrower promptly thereof, unless such notification is prohibited by law, rule or
regulation), (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or any action or proceeding relating to this Agreement or the enforcement of rights hereunder or thereunder, (f) subject to an
agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or participant in, or any prospective assignee of or participant in, any of its rights or obligations under this Agreement, (ii) any
actual or prospective party (or its managers, administrators, trustees, partners, directors, officers, employees, agents, advisors and other representatives) to any swap or derivative or similar transaction under which payments are to be made by
reference to the Borrower and its obligations, this Agreement or payments hereunder, (iii) any rating agency, (iv) the CUSIP Service Bureau or any similar organization or (v) any Person to whom or for whose benefit such Lender has created
a security interest in all or any portion of its rights under this Agreement pursuant to Section 9.07(g), (g) with the consent of the Borrower or (h) to the extent such Information (x) becomes publicly available other than as a
result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a non-confidential basis from a source other than the Borrower. Each Lender acknowledges that its
ability to disclose information concerning the Transactions is restricted by the City Code and the Panel and that Section 9.08 is subject to those restrictions. 

For purposes of this Section, “Information” means this Agreement and the other Loan Documents and all
information received from the Consolidated Group relating to the Consolidated Group or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a non-confidential basis prior
to disclosure by the Consolidated Group and other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry. Any Person required to
maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information. 
 SECTION
9.09        Debt Syndication during the Certain Funds Period. Each of the Lenders and the Administrative Agent confirms that it is aware of the terms and requirements of Practice Statement No. 25
(Debt Syndication during Offer Periods) issued by the Panel. 
 SECTION
9.10        Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

  
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SECTION 9.11        Execution in Counterparts. This Agreement may be executed in
any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this Agreement by telecopier, facsimile or in a .pdf or similar file shall be effective as delivery of a manually executed counterpart of this Agreement. 

SECTION 9.12        Jurisdiction, Etc. (a) Each of the parties hereto hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the United States District Court of the Southern District of New York, located in the Borough of Manhattan (or if such court lacks subject matter
jurisdiction, the Supreme Court of the State of New York sitting in the Borough of Manhattan), and any appellate court from any such court, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement
of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding shall be heard and determined in any such New York State court or, to the extent permitted by
law, in any such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

 (b)        Each of the parties hereto irrevocably and unconditionally waives, to
the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or federal court.
Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(c)        Each party to this Agreement irrevocably consents to service of process in
the manner provided for notices in Section 9.02. The Borrower irrevocably designates and appoints the Service of Process Agent, with offices on the date of this Agreement at 111 Eighth Avenue,
13th Floor, New York, New York 10011, as its authorized agent, to accept and acknowledge on its behalf, service of any and all process which may be served in any suit, action or proceeding of the
nature referred to in Section 9.12(a) in any federal or New York State court sitting in New York City. Said designation and appointment shall be irrevocable by the Borrower. The Borrower hereby consents to process being served in any suit,
action or proceeding of the nature referred to in Section 9.12(a) in any federal or New York State court sitting in New York City by service of process upon the Service of Process Agent, with offices on the date of this Agreement at 111 Eighth
Avenue, 13th Floor, New York, New York 10011, as provided in this Section 9.12(c); provided that, to the extent lawful and possible, notice of said service upon such agent shall be
mailed by registered or certified air mail, postage prepaid, return receipt requested, to the Service of Process Agent, and to the Borrower (with a copy thereof to the Service of Process Agent) at the address specified for such Person on Schedule II
or at such other address as shall be designated by such party in a written notice to the Administrative Agent. The Borrower irrevocably waives, to the fullest extent permitted by law, all claim of error by reason of any such service in such manner
and agrees that such service shall be deemed in every respect effective service of process upon the Borrower in any such suit, action or proceeding and shall, to the fullest extent permitted by law, be taken and held to be valid and personal service
upon and personal delivery to the Borrower. To the extent the Borrower has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether from service or notice, attachment prior to judgment, attachment in
aid of execution of a judgment, execution or otherwise), the Borrower hereby irrevocably waives such immunity in respect of its obligations under the Loan Documents. Nothing in this Agreement or any other Loan Document will affect the right of any
party to this Agreement to serve process in any other manner permitted by law. 
 SECTION
9.13        Patriot Act Notice. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the Patriot Act,
it is required to obtain, verify and record information that identifies the Borrower, which information includes the 

  
 68 

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name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the
Borrower in accordance with the Patriot Act. The Borrower shall provide, to the extent commercially reasonable, such information and take such actions as are reasonably requested by the Administrative Agent or any Lenders in order to assist the
Administrative Agent and the Lenders in maintaining compliance with the Patriot Act. 
 SECTION
9.14        No Advisory or Fiduciary Responsibility. The Borrower acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that no Credit Party will have any obligations except
those obligations expressly set forth herein and in the other Loan Documents and each Credit Party is acting solely in the capacity of an arm’s length contractual counterparty to the Borrower with respect to the Loan Documents and the
transaction contemplated therein and not as a financial advisor or a fiduciary to, or an agent of, the Borrower or any other person. The Borrower agrees that it will not assert any claim against any Credit Party based on an alleged breach of
fiduciary duty by such Credit Party in connection with this Agreement and the transactions contemplated hereby. Additionally, the Borrower acknowledges and agrees that no Credit Party is advising the Borrower as to any legal, tax, investment,
accounting, regulatory or any other matters in any jurisdiction. The Borrower shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions
contemplated hereby, and the Credit Parties shall have no responsibility or liability to the Borrower with respect thereto. 

The Borrower further acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that each Credit Party,
together with its Affiliates, is a full service securities or banking firm engaged in securities trading and brokerage activities as well as providing investment banking and other financial services. In the ordinary course of business, any Credit
Party may provide investment banking and other financial services to, and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other securities and financial instruments (including bank loans and other
obligations) of, the Borrower and other companies with which the Borrower may have commercial or other relationships. With respect to any securities and/or financial instruments so held by any Credit Party or any of its customers, all rights in
respect of such securities and financial instruments, including any voting rights, will be exercised by the holder of the rights, in its sole discretion. 

In addition, the Borrower acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that each Credit
Party and its affiliates may be providing debt financing, equity capital or other services (including financial advisory services) to other companies in respect of which the Borrower may have conflicting interests regarding the transactions
described herein and otherwise. No Credit Party will use confidential information obtained from the Borrower by virtue of the transactions contemplated by the Loan Documents or its other relationships with the Borrower in connection with the
performance by such Credit Party of services for other companies, and no Credit Party will furnish any such information to other companies. The Borrower also acknowledges that no Credit Party has any obligation to use in connection with the
transactions contemplated by the Loan Documents, or to furnish to the Borrower, confidential information obtained from other companies. 

SECTION 9.15        Waiver of Jury Trial. Each of the Borrower, the
Administrative Agent and the Lenders hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Agreement or the actions of the
Administrative Agent or any Lender in the negotiation, administration, performance or enforcement thereof. 
 SECTION
9.16        Conversion of Currencies. If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto
agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other
currency on the Business Day immediately preceding the day on which final judgment is given. 

  
 69 

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The obligations of the Borrower in respect of any sum due to any party hereto or any holder of the obligations owing hereunder
(the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement
Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking
procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the
Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of the Borrower contained in this Section 9.16 shall survive the termination of this
Agreement and the payment of all other amounts owing hereunder. 
 SECTION
9.17        Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding
among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents
to, and acknowledges and agrees to be bound by: 
  

	 	(a)	 the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such
liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

  

	 	(b)	 the effects of any Bail-In Action on any such liability, including, if applicable: 

 

	 	(i)	 a reduction in full or in part or cancellation of any such liability; 

 

	 	(ii)	 a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such
EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 

  

	 	(iii)	 the variation of the terms of such liability in connection with the exercise of the Write-Down and
Conversion Powers of any EEA Resolution Authority. 

 SECTION
9.18        Certain ERISA Matters. 
  

	 	(a)	 Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to,
and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Lead Arrangers and the Arranger and their respective
Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true: 

  

	 	(i)	 such Lender is not using “plan assets” (within the meaning of Plan Asset Regulations) of one or
more Benefit Plans in connection with the Commitments or the Advance; 

  

	 	(ii)	 the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain
transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving
insurance company pooled 

  
 70 

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	 	 separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment
funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Advance, the
Commitments and this Agreement, and the conditions for exemptive relief thereunder are and will continue to be satisfied in connection therewith, 

  

	 	(iii)	 (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within
the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Commitments, the Advance and this Agreement,
(C) the entrance into, participation in, administration of and performance of the Commitments, the Advance and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best
knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Commitments, the Advance and this
Agreement; or 

  

	 	(iv)	 such other representation, warranty and covenant as may be agreed in writing between the Administrative
Agent, in its sole discretion, and such Lender. 

  

	 	(b)	 In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to
a Lender or if such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person
became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Lead Arrangers and the
Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that: 

  

	 	(i)	 none of the Administrative Agent, the Lead Arrangers or the Arranger or their respective Affiliates is a
fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto),

  

	 	(ii)	 the Person making the investment decision on behalf of such Lender with respect to the entrance into,
participation in, administration of and performance of the Commitments, the Advance and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or
other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E), 

 

	 	(iii)	 the Person making the investment decision on behalf of such Lender with respect to the entrance into,
participation in, administration of and performance of the Commitments, the Advance and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies,

  

	 	(iv)	 the Person making the investment decision on behalf of such Lender with respect to the entrance into,
participation in, administration of and performance of the Commitments, the Advance and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Commitments, the Advance and this Agreement and is responsible for exercising
independent judgment in evaluating the transactions hereunder, and 

  
 71 

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	 	(v)	 no fee or other compensation is being paid directly to the Administrative Agent, the Lead Arrangers or the
Arranger or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Commitments, the Advance or this Agreement. 

 

	 	(c)	 The Administrative Agent, each Lead Arranger and the Arranger hereby informs the Lenders that each such
Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated
hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Commitments, the Advance and this Agreement, (ii) may recognize a gain if it extended the Commitments or the Advance for an
amount less than the amount being paid for an interest in the Commitments or the Advance by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise,
including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees,
fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing. 

 

	 	(d)	 The representations in this Section 9.18 are intended to comply with United States Department of Labor
Regulations codified at 29 C.F.R. § 2510.3-21(a) and (c)(1) as promulgated on April 8, 2016 (81 Fed. Reg. 20,997). To the extent these regulations are revoked, repealed or no longer effective, these representations shall be deemed to
be no longer in effect. 

 SECTION 9.19        Interest Rate
Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to the Advance, together with all fees, charges and other amounts which are treated as interest on such Advance under applicable law
(collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding the Advance in accordance with
applicable law, the rate of interest payable in respect of such Advance hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been
payable in respect of the Advance but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other periods shall be increased (but not above the Maximum Rate
therefor) until such cumulated amount, together with interest thereon at the Cost of Funds Rate to the date of repayment, shall have been received by such Lender. Notwithstanding the forgoing, if the Lender shall have received interest and/or
Charges in an amount that exceeds the Maximum Rate, the excess interest and Charges shall be (i) applied to the principal of the Advance, or (ii) if it exceeds the principal of the Advance, refunded to the Borrower. The Borrower represents
and warrants to the Lenders that, as of the date of this Agreement, it falls into Article 2, Paragraph 1, Item 1 of the Act on Specified Commitment Line Contract (Act No. 4 of 1999). 

SECTION 9.20        English Language. 

 

	 	(a)	 Save where this Agreement expressly provides to the contrary, any notice given under or in connection with
this Agreement must be: 

  

	 	(i)	 in English; or 

  

	 	(ii)	 in any other language required in respect of such notice by applicable law and accompanied by a certified
English translation at the cost of the Borrower, which English translation will prevail in all circumstances. 

  
 72 

 CONFORMED COPY 
  

 

	 	(b)	 All other documents provided under or in connection with this Agreement must be: 

 

	 	(i)	 in English; or 

  

	 	(ii)	 if not in English, and if so required by the Administrative Agent, accompanied by a certified English
translation at the cost of the Borrower and, in this case, the English translation will prevail in all circumstances unless the document is a constitutional, statutory or other official document. 

 

	 	(c)	 Notwithstanding the foregoing, the Adminstrative Agent, the Lenders and the Borrower hereby agree that
notices and other communication customarily made in the Japanese language by the Administrative Agent to the Lenders and/or the Borrower (primarily, those of an administrative nature, such as with respect to base rate determinations, applicable
interest rate, interest payment amount, etc.) may be made solely in the Japanese language as between the relevant parties, as determined at the sole discretion of the Administrative Agent. 

[SIGNATURE PAGES FOLLOW] 

  
 73 

 CONFORMED COPY 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly
authorized, as of the date first above written. 
  

					
	 	 	 TAKEDA PHARMACEUTICAL COMPANY LIMITED,

		 	 as Borrower

			
		 	 By: 
	 	 /s/ Costa Saroukos

		 		 	 Name: Costa Saroukos

		 		 	 Title: Chief Financial Officer

  
 Signature Page to

 Senior Short-Term Loan Facility Agreement 

 CONFORMED COPY 
  

					
		 	 SUMITOMO MITSUI BANKING CORPORATION, as

		 	 Administrative Agent

			
		 	 By: 
	 	 /s/ Makoto Takashima

		 		 	 Name: Makoto Takashima

		 		 	 Title: Representative Director

  

					
		 	 SUMITOMO MITSUI BANKING CORPORATION, as

		 	 a Lender

			
		 	 By: 
	 	 /s/ Makoto Takashima

		 		 	 Name: Makoto Takashima

		 		 	 Title: Representative Director

  
 Signature Page to

 Senior Short-Term Loan Facility Agreement 

 CONFORMED COPY 
  

					
		 	 MUFG BANK, LTD., as a Lender

		 	
			
		 	 By: 
	 	 /s/ Ichiro Numajima

		 		 	 Name: Ichiro Numajima

		 		 	 Title: Executive Officer

  
 Signature Page to

 Senior Short-Term Loan Facility Agreement 

 CONFORMED COPY 
  

					
		 	 MIZUHO BANK, LTD, as a Lender

		 	
			
		 	 By: 
	 	 /s/ Koji Fujiwara

		 		 	 Name: Koji Fujiwara

		 		 	 Title: Chairman of the Board of Directors

  
 Signature Page to

 Senior Short-Term Loan Facility Agreement 

 CONFORMED COPY 
  

					
		 	 THE NORINCHUKIN BANK, as a Lender

		 	
			
		 	 By: 
	 	 /s/ Kazuto Oku

		 		 	 Name: Kazuto Oku

		 		 	 Title: President and Chief Executive Officer

  
 Signature Page to

 Senior Short-Term Loan Facility Agreement 

 CONFORMED COPY 
  

					
		 	 SUMITOMO MITSUI TRUST BANK, LIMITED, as a

		 	 Lender

			
		 	 By: 
	 	 /s/ Shigenori Ikemura

		 		 	 Name: Shigenori Ikemura

		 		 	 Title: Executive Officer

  
 Signature Page to

 Senior Short-Term Loan Facility Agreement 

 CONFORMED COPY 
  

SCHEDULE I 
 COMMITMENTS 

 

			
	 LENDER

 
	  	
COMMITMENTS
  

	
SUMITOMO MITSUI BANKING CORPORATION
  
	  	 150,000,000,000 Yen

 

	 MUFG
BANK, LTD.
  
	  	
150,000,000,000 Yen
  

	
MIZUHO BANK, LTD
  
	  	 100,000,000,000 Yen

 

	 THE
NORINCHUKIN BANK
  
	  	 50,000,000,000 Yen

 

	
SUMITOMO MITSUI TRUST BANK, LIMITED
  
	  	 50,000,000,000 Yen

 

	
AGGREGATE COMMITMENTS
	  	500,000,000,000 Yen

  

 CONFORMED COPY 
  

SCHEDULE II 
 ADMINISTRATIVE
AGENT’S OFFICE; CERTAIN ADDRESSES FOR NOTICE 
 BORROWER: 

Takeda Pharmaceutical Company Limited 
 Corporate Finance
Department 
 12-10, Nihonbashi 2-chome, Chuo-ku, Tokyo 103-8668 Japan 

Attention: Chief Financial Officer 
 Telephone: 03-3278-2284 

Facsimile: 03-3278-2198 
 cc: 

Takeda Pharmaceutical Company Limited 
 One Takeda Parkway 

Deerfield, IL 60015 
 Attention: General Counsel 

Facsimile No.: (224) 554-7831 

  

 CONFORMED COPY 
  

ADMINISTRATIVE AGENT: 
 In the case of requests for the
Borrowing and other notices 
 Sumitomo Mitsui Banking Corporation 

13-6, Nihonbashi-Kodenma-cho, Chuo-ku 
 Tokyo 103-0001 

Attention: Inter-Market Settlement Dept. Syndication Group 
 Tel:
03-5640-6688 
 Fax: 03-5695-5214 

  

 CONFORMED COPY 
  

EXHIBIT A 
 FORM OF NOTICE OF
BORROWING 
 Sumitomo Mitsui Banking Corporation 
 as
Administrative Agent 
 Sumitomo Mitsui Banking Corporation 

13-6, Nihonbashi-Kodenma-cho, Chuo-ku 
 Tokyo 103-0001 

Attention: Inter-Market Settlement Dept. Syndication Group 
 Tel:
03-5640-6688 
 Fax: 03-5695-5214 
 [Date] 

Ladies and Gentlemen: 

Reference is hereby made to the Senior Short-Term Loan Facility Agreement dated as of October 26, 2018 (as the same may
be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Takeda Pharmaceutical Company Limited (the “Borrower”), the Lenders from time to time party thereto and
Sumitomo Mitsui Banking Corporation, as administrative agent (in such capacity, the “Administrative Agent”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. This
notice constitutes the Notice of Borrowing and the Borrower hereby requests an Advance under the Credit Agreement, and in that connection the Borrower specifies the following information with respect to the Advance requested hereby: 

 

	1.	 Principal amount of
Advance:                       

  

	2.	 Date of Advance (which is a Business
Day):                       

  

	3.	 Maturity
Date:                       (1, 2, 3 or 6 months from Date of Advance) 

 

	4.	 Location and number of the Borrower’s account to which proceeds of Advance are to be
disbursed:                       

I, [            ], hereby certify that I am the duly
elected, qualified and acting [            ] of the Borrower, and that, as such, I am authorized to execute and deliver this certificate on behalf of the Borrower. I further certify
that, as of the date hereof, (x) no Certain Funds Default is continuing or would result from the borrowing requested herein and (y) all the Certain Funds Representations are true, or, if a Certain Funds Representation does not include a
materiality construct, true in all material respects. 
 [Signature Page Follows] 

  

 CONFORMED COPY 
  

IN WITNESS WHEREOF, the undersigned has caused this Notice of Borrowing to be executed and delivered as of the date first above
written. 
  

			
		 	 Very truly yours,

		
		 	 TAKEDA PHARMACEUTICAL COMPANY LIMITED,
 as the
Borrower

		
		 	
By:                  
                                      

		 	 Name:

		 	 Title:

  
 Exhibit A-2 

 CONFORMED COPY 
  

EXHIBIT B 
 FORM OF ASSIGNMENT AND
ACCEPTANCE 
 This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the
Assignment Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined
herein shall have the meanings given to them in the Credit Agreement identified below (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Acceptance as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby
irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Assignment Date inserted by the Administrative Agent as contemplated below (i) all of
the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all
of such outstanding rights and obligations of the Assignor under the respective facilities identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or
in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and
assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and assignment is
without recourse to the Assignor and, except as expressly provided in this Assignment and Acceptance, without representation or warranty by the Assignor. 
  

					
	 1.
	 	 Assignor:
	 	
                       
                                         

			
	 2.
	 	 Assignee:
	 	
                       
                                         

		 		 	 [and is an Affiliate of [identify
Lender]1]

			
	 3.
	 	 Borrower:
	 	 Takeda Pharmaceutical Company Limited

			
	 4.
	 	 Administrative Agent:
	 	 Sumitomo Mitsui Banking Corporation, as the administrative agent under the Credit Agreement

			
	 5.
	 	 Credit Agreement:
	 	 The Senior Short-Term Loan Facility Agreement dated as of October 26, 2018 among Takeda Pharmaceutical Company Limited, as
borrower, the Lenders parties thereto and Sumitomo Mitsui Banking Corporation, as Administrative Agent

			
	 6.
	 	 Assigned Interest:
	 	

  
  

1 Select as applicable. 

  

 CONFORMED COPY 
  

 

					
	Aggregate Amount of Commitment/Advance
for all Lenders	 	Amount of
Commitment/Advance Assigned	 	Percentage Assigned
of
Commitment/Advance2
	
[JPY]
	 	[JPY]	 	%
	
[JPY]
	 	[JPY]	 	%
	
[JPY]
	 	[JPY]	 	%

 Assignment Date:
                                ,
20       [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE ASSIGNMENT DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in which the Assignee
designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower and their Related Parties or their respective securities) will be made available and who may receive
such information in accordance with the Assignee’s compliance procedures and applicable laws, including U.S. Federal and state securities laws. 

The terms set forth in this Assignment and Acceptance are hereby agreed to: 

 

	
	 ASSIGNOR

	
	 [NAME OF ASSIGNOR]

	
	 By:
                                         
               

	 Name:

	 Title: 

	
	 ASSIGNEE

	
	 [NAME OF ASSIGNEE]

	
	 By:
                                         
               

	 Name:

	 Title:

 [Consented to and]3 Accepted: 

 

	
	 SUMITOMO MITSUI BANKING CORPORATION,

as Administrative Agent

	
	 By:
                                         
               

	 Name:

	 Title:

  

2 Set forth, to at least 9 decimals, as a percentage of the Commitment/Advance of all
Lenders thereunder. 
 3 To be added only if the consent of the Administrative Agent is
required by the terms of the Credit Agreement. 

  
 Exhibit B-2 

 CONFORMED COPY 
  

[Consented to:]4 

 

	
	 TAKEDA PHARMACEUTICAL COMPANY LIMITED

	
	
By:                      
                                  

	 Name:

	 Title:

  

4 To be added only if the consent of the Borrower is required by the terms of the Credit
Agreement. 

  
 Exhibit B-3 

 CONFORMED COPY 
  

ANNEX I 
 STANDARD TERMS AND
CONDITIONS FOR 
 ASSIGNMENT AND ACCEPTANCE 

1. Representations and Warranties. 

1.1    Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Acceptance and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement,
(ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other
Person obligated in respect of the Credit Agreement or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under the Credit Agreement. 

1.2.    Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Acceptance and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if
any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Assignment Date, it shall be bound by the provisions of the Credit Agreement
as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and
either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, together with copies of the most recent
financial statements delivered pursuant to Section 5.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance and
to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent, any Lead Arranger or Arranger or any other Lender and their respective Related Parties,
and (vi) attached to the Assignment and Acceptance is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; (b) makes for itself as of the date hereof
rather than the Effective Date, the representation and warranty concerning each Lender set forth in Section 9.18 of the Credit Agreement and (c) agrees that (i) it will, independently and without reliance on the Administrative Agent,
any Lead Arranger or Arranger, the Assignor or any other Lender and their respective Related Parties, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Credit Agreement, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender. 

2. Payments. From and after the Assignment Date, the Administrative Agent shall make all payments in respect of the
Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Assignment Date and to the Assignee for amounts which have accrued from and after the
Assignment Date. 
 3. General Provisions. This Assignment and Acceptance shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and assigns. This Assignment and Acceptance may be 

  
 Exhibit B-4 

 CONFORMED COPY 
  

executed in any number of counterparts, which together shall constitute one instrument. Acceptance and adoption of the terms of this Assignment
and Acceptance by the Assignee and the Assignor by Electronic Signature or delivery of an executed counterpart of a signature page of this Assignment and Acceptance by any Electronic System shall be effective as delivery of a manually executed
counterpart of this Assignment and Acceptance. This Assignment and Acceptance shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 Exhibit B-5 

 CONFORMED COPY 
  

EXHIBIT C 
 FORM OF COMPLIANCE
CERTIFICATE 
 Sumitomo Mitsui Banking Corporation 

as Administrative Agent 
 Sumitomo Mitsui Banking
Corporation 
 13-6, Nihonbashi-Kodenma-cho, Chuo-ku 
 Tokyo
103-0001 
 Attention: Inter-Market Settlement Dept. Syndication Group 

Tel: 03-5640-6688 
 Fax: 03-5695-5214 

[Date] 
 Ladies and Gentlemen: 

Reference is hereby made to the Senior Short-Term Loan Facility Agreement dated as of October 26, 2018 (as the same may
be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Takeda Pharmaceutical Company Limited (the “Borrower”), the Lenders from time to time party thereto and
Sumitomo Mitsui Banking Corporation, as administrative agent (in such capacity, the “Administrative Agent”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. 

The undersigned is the [Chief Executive Officer / Chief Financial Officer / Treasurer] of the Borrower (the
“Authorized Officer”) and, as such, the undersigned is authorized to execute and deliver this Compliance Certificate to the Administrative Agent on behalf of the Borrower in accordance with Section 5.01(i)(iii) of the Credit
Agreement. The Authorized Officer hereby certifies as follows, in his/her capacity as an officer of the Borrower and not in his/her individual capacity: 
  

	 	1.	 I have reviewed the terms of the Credit Agreement and I have made, or caused to be made under my
supervision, a review in reasonable detail of the transactions and conditions of the Consolidated Group during the accounting period covered by the financial statements attached hereto as Annex I [for quarterly financial statements
add: and such financial statements have been prepared in accordance with IFRS (subject to the absence of footnotes and year end audit adjustments); [and] 

 

	 	2.	 The examinations described in paragraph 1 did not disclose[, except as set forth below], and I have no
knowledge of the existence of any condition or event which constitutes a Default or Event of Default during or at the end of the accounting period covered by the attached financial statements or as of the date of this Compliance Certificate; [and]

  

	 	a.	 [Please specify in reasonable detail each condition or event which constitutes a Default or Event of
Default and any action taken or proposed to be taken with respect thereto]; [and] 

  

	 	3.	 [The Borrower is in compliance with the Consolidated Net Debt to Consolidated EBITDA covenant contained in
Section 5.03 of the Credit Agreement as shown in the calculations attached hereto as Annex II.] 

  

 CONFORMED COPY 
  

ANNEX I 
 FINANCIAL STATEMENTS FOR
PERIOD ENDING [            ] 
 [To be attached.] 

  
 Exhibit C-2 

 CONFORMED COPY 
  

ANNEX II 
 CALCULATION OF
CONSOLIDATED NET DEBT TO CONSOLIDATED EBITDA RATIO 
 [To be attached.] 

  
 Exhibit C-3EX-10.10

 Exhibit 10.10 

[English Translation solely for Information Purposes 

– Japanese language original shall govern and control] 

SUBORDINATED SYNDICATED LOAN AGREEMENT 

dated October 26, 2018 
 among

 TAKEDA PHARMACEUTICAL COMPANY LIMITED 

as Borrower 
 SUMITOMO MITSUI
BANKING CORPORATION 
 MUFG BANK, LTD. 

as Lead Arrangers and Bookrunners 

MIZUHO BANK, LTD. 
 as
Arranger and Bookrunner 
 THE NORINCHUKIN BANK 

SUMITOMO MITSUI TRUST BANK, LIMITED 

as Arrangers 
 SUMITOMO MITSUI
BANKING CORPORATION 
 MUFG BANK, LTD. 

MIZUHO BANK, LTD. 
 THE
NORINCHUKIN BANK 
 SUMITOMO MITSUI TRUST BANK, LIMITED 

as Lenders 
 and 

SUMITOMO MITSUI BANKING CORPORATION 

as Agent 

 TABLE OF CONTENTS 

 

					
	 Chapter 1    Definitions
	  	 	1	 
		
	 Article
1-1    (Definitions)
	  	 	1	 
		
	 Chapter 2    Commitment Terms
	  	 	6	 
		
	 Article 2-1    (Primary Commitment
Terms)
	  	 	6	 
		
	 Article 2-2    (Conditions
Precedent to Lending Obligation)
	  	 	10	 
		
	 Article 2-3    (Terms and
Conditions of Extending the Loan)
	  	 	10	 
		
	 Article 2-4    (Exemption of
Lender)
	  	 	11	 
		
	 Article 2-5    (Increased Costs and
Illegality)
	  	 	12	 
		
	 Article 2-6    (Payment of
Commitment Fees)
	  	 	12	 
		
	 Article 2-7    (Optional Deferral
of Interest Payment)
	  	 	13	 
		
	 Chapter 3    Representations and Warranties of the Borrower
	  	 	16	 
		
	 Article 3-1    (Representations and
Warranties of the Borrower)
	  	 	16	 
		
	 Chapter 4    Obligations of the Borrower
	  	 	17	 
		
	 Article 4-1    (Obligations of the
Borrower)
	  	 	17	 
		
	 Chapter 5    No Acceleration
	  	 	19	 
		
	 Article 5-1    (No
Acceleration)
	  	 	19	 
		
	 Chapter 6    Termination of the Commitment Period
	  	 	20	 
		
	 Article 6-1    (Termination of the
Commitment Period)
	  	 	20	 
		
	 Chapter 7    Terms and Conditions of Repayment of Obligations
	  	 	21	 
		
	 Article 7-1    (Performance of
Obligations of the Borrower)
	  	 	21	 
		
	 Article
7-2    (Subordination)
	  	 	22	 
		
	 Chapter 8    Terms and Conditions to Prepayment
	  	 	24	 
		
	 Article 8-1    (Terms and
Conditions to Prepayment)
	  	 	24	 
		
	 Chapter 9    Syndication Terms
	  	 	25	 
		
	 Article 9-1    (Rights and
Obligations of the Lenders)
	  	 	25	 
		
	 Article 9-2    (Distributions to
the Lenders)
	  	 	25	 
		
	 Article 9-3    (Rights and
Obligations of the Agent)
	  	 	27	 
		
	 Article 9-4    (Resignation and
Dismissal of the Agent)
	  	 	29	 
		
	 Article 9-5    (Decisions of
Majority Lenders)
	  	 	30	 
		
	 Article 9-6    (Collection from a
Third Party)
	  	 	30	 
		
	 Article 9-7    (Assignment of
Position)
	  	 	30	 
		
	 Article 9-8    (Assignment of Loan
Claim)
	  	 	32	 
		
	 Article
9-9    (Miscellaneous)
	  	 	32	 

  
 i 

			
	 Attachment 1
	  	 Contact Details of Parties, Initial Commitment Amounts of Lenders, and Method of Notices

		
	 Attachment 2
	  	 Principal Payment Schedule, Interest Payment Date Schedule

		
	 Attachment 3
	  	 Form of Drawdown Notice

		
	 Attachment 4
	  	 Exclusion of Anti-Social Forces

  
 ii 

 SUBORDINATED SYNDICATED LOAN AGREEMENT 

This Agreement is made as of October 26, 2018 among TAKEDA PHARMACEUTICAL COMPANY LIMITED, as the borrower (the “Borrower”) and
the financial institutions set out in the lenders column of Attachment 1 as the lenders (collectively the “Lenders” and each a “Lender”), and Sumitomo Mitsui Banking Corporation, as the agent (the “Agent”), as
follows: 
 Chapter 1        Definitions1 

Article 1-1        (Definitions) 

The following terms shall, except where the context clearly indicates otherwise, have the meanings given below in this Agreement. 

 

					
	 1.
	  	“Business Day”	  	 Means a day other than a day designated as a holiday for banks in Japan.

			
	 2.
	  	“Lending Obligation”	  	 Means the obligation of each Lender to make an Individual Loan in response to a request of borrowing delivered by the
Borrower in accordance with the terms and subject to the conditions set out in this Agreement.

			
	 3.
	  	“Loan Impossibility Event”	  	 Means (i) a situation where Yen lending transactions cannot generally be made by banks in the Tokyo interbank market,
or (ii) a situation where due to an act of God or an outbreak of war, a terrorist attack, an interruption or difficulty in the electrical, communications or various settlement systems and any other event not attributable to the Lenders, the
drawdown of loans from all or any of the Lenders becomes impossible, and the Majority Lenders (or if obtaining the decision of the Majority Lenders is burdensome, the Agent) shall determine the occurrence and resolution of such event, acting
reasonably.

			
	 4.
	  	“Drawdown Notice”	  	 Means a drawdown notice substantially in the form of Attachment 3 delivered to the Agent or sent by facsimile
transmission for the purpose of requesting loans under this Agreement.

			
	 5.
	  	“Longstop Drawdown Notice Date”	  	 Has the meaning in Article 2-1(2).

			
	 6.
	  	“Available Prepayment Date”	  	 Means the Interest Payment Date falling after the sixth (6th)
anniversary of the Drawdown Date (including such date) and each subsequent Interest Payment Date in each year.

			
	 7.
	  	“Mandatory Payment Reference Period”	  	 Means, with respect to an Interest Payment Date, the period commencing on (and including) the day fifteen
(15) Business Days before the Interest Payment Date immediately preceding the relevant Interest Payment Date (or, in the case of the initial Interest Payment Date, the Drawdown Date) and ending fifteen (15) Business Days before the
relevant Interest Payment Date.

			
	 8.
	  	“Taxes and Public Charges”	  	 Means income taxes, corporate taxes, and other taxes and all public taxes and/or public charges which may be imposed in
Japan.

  

1 Note to draft: Defined terms are in the order presented in the Japanese original and
therefore are not in alphabetical order in the translation. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 1 

					
	 9.
	  	“Individual Loan”	  	 Means the loan transactions made by each Lender pursuant to the Drawdown Notice.

			
	 10.
	  	“Individual Loan Advance”	  	 Means the proceeds advanced by the Lenders to the Borrower as an Individual Loan. Furthermore, “Individual Loan
Advance Amount” means the amount of such Individual Loan Advance (i.e. the amount calculated by applying the total amount set out in the relevant Drawdown Notice pro rata to each Lender in accordance with its relevant Participation
Ratio).

			
	 11.
	  	“Outstanding Individual Loan Amount”	  	 Means the principal, interest, default interest, Break Funding Costs relating to an Individual Loan and any other amount
for which the Borrower bears a payment obligation with respect to such Individual Loan.

			
	 12.
	  	“Commitment Period Termination Event”	  	 Has the meaning in Article 6.1(1).

			
	 13.
	  	“Commitment Amount”	  	 Means the maximum amount of Lending Obligation each Lender bears under this Agreement to the Borrower.

			
	 14.
	  	“Commitment Fee”	  	 Means the fee payable by the Borrower to each of the Lenders in accordance with the terms of this Agreement in
consideration for the Lending Obligation provided by the Lenders.

			
	 15.
	  	“Most Preferred Stock”	  	 Means the shares issued or to be issued by the Borrower, which rank senior to the common stock issued by the Borrower with
respect to the right to receive dividends from surplus and distribution of residual assets (if the Borrower has more than one class of stock outstanding which ranks senior to the common stock issued by the Borrower, then the class of stock ranking
most senior with respect to the right to receive distribution of residual assets).

			
	 16.
	  	“Participation Ratio”	  	 Means the percentage of the Commitment Amount of each Lender to the Total Commitment Amount.

			
	 17.
	  	“Requested Drawdown Date”	  	 Means a business day during the Commitment Period on which the Borrower requests the disbursement of a loan, as set out in
the relevant Drawdown Notice.

			
	 18.
	  	“Drawdown Date”	  	 Means the date on which an Individual Loan is disbursed.

			
	 19.
	  	“Due Time”	  	 Means noon of the Repayment Date in the case where a Repayment Date is specified in this Agreement.

			
	 20.
	  	“Equity Credit Change Event”	  	 Means an event in which the Rating Agents (which means Rating and Investment Information, Inc., S&P Global Ratings
Japan K.K. and Moody’s Japan K.K., or any company succeeding to the rating business thereof; the same shall apply hereinafter) announce or give the Borrower a written notice to the effect that each such Rating Agent has decided to treat any
obligation under this Agreement as having a lower equity credit than the equity credit thereof estimated by each such Rating Agent at the time of the execution of this Agreement due to a revision of the evaluation standards for equity credit of the
obligations under this Agreement.

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 2 

					
	 21.
	  	“Break Funding Cost”	  	 Means the amount to be settled in the case where the principal is repaid on any day other than an Interest Payment Date,
and the Reinvestment Rate falls below the Applicable Interest Rate, which amount shall be calculated as the principal amount with respect to which such repayment was made, multiplied by the difference between the Reinvestment Rate and the Applicable
Interest Rate, and the actual number of days of the Remaining Period. “Remaining Period” means the period commencing on (and including) the day on which the repayment was made and ending on (and including) the upcoming Interest Payment
Date, and the “Reinvestment Rate” means the interest rate reasonably determined by the Lenders as the interest rate to be applied on the assumption that the prepaid principal amount will be reinvested in the Tokyo interbank market, etc.
during the Remaining Period. The calculation method for such Break Funding Cost shall be on a per diem basis, inclusive of the first day and exclusive of the last day, wherein divisions shall be done at the end of the calculation, and fractions less
than one Yen (¥1) shall be rounded down.

			
	 22.
	  	“Total Loan Balance”	  	 Means the aggregate principal portion of the Outstanding Individual Loan Amounts of all of the Lenders under this
Agreement.

			
	 23.
	  	“Tax Event”	  	 Means an event in which, by the laws and ordinances of Japan or application or interpretation thereof, the Borrower suffers
a significant tax disadvantage, including such that interest under this Agreement shall not be counted in deductible expenses prescribed in Article 22, Paragraph 3 of the Corporate Tax Act (Act No. 34 of 1965, as amended) in the calculation of
corporate tax imposed on the Borrower, which cannot be avoided by the Borrower making reasonable efforts.

			
	 24.
	  	“Increased Costs”	  	 Means the increased portion of lending expenses (the amount reasonably calculated by the relevant Lender), in the case
where the Lender’s burden of Lending Obligation and the lending expenses required in connection with this Agreement are substantially increased (excluding any increase caused by a change in tax rates on taxable income of such Lender) due to any
enactment or amendment of Laws and Ordinances, or any change in the interpretation or application thereof, establishment or increase in capital reserves, or change in the restrictions under, or implementation of, the accounting rules.

			
	 25.
	  	“Increased Costs Lender”	  	 Means a Lender that has incurred Increased Costs.

			
	 26.
	  	“Total Commitment Amount”	  	 Means the aggregate amount of the Commitment Amounts of all of the Lenders.

			
	 27.
	  	“Damages”	  	 Means damages, losses and expenses (including, without limitation, any costs incurred in order not to suffer from damages
or losses, costs incurred to recover damages or losses, and attorney’s fees).

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 3 

					
	 28.
	  	“Majority Lenders”	  	 Means one or more Lenders whose Participation Ratio(s) amount to sixty six point seven percent (66.7%) or more in total as
of the Decision Seeking Time (provided, however, that with respect to any Lender whose Lending Obligation has been cancelled but has Outstanding Individual Loan Amounts, for purposes of calculating its Participation Ratio during such period, its
Commitment Amount shall be deemed equivalent to the principal portion of such Outstanding Individual Loan Amount as of the Decision Seeking Time. If the Lending Obligation is cancelled with respect to all Lenders but the repayment of all amounts due
and payable under this Agreement has not occurred, the Participation Ratio for each Lender during such period shall be equivalent to its pro rata share of the Total Loan Balance with respect to the principal portion of the Outstanding Individual
Loan Amount for such Lender. “Decision Seeking Time” means, in the case where the Lenders determine that an event requiring the instruction of the Majority Lenders has occurred, the point in time when the Agent receives a notice of a
request for a decision of the Majority Lenders under this Agreement from the relevant Lender, and in the case where the Agent determines it necessary to seek a decision of the Majority Lenders, the point in time when the Agent gives notice to such
effect.

			
	 29.
	  	“Temporary Advance Cost”	  	 Means, in the case where the Agent makes a Temporary Advance, the amount calculated as the amount of the Temporary Advance
multiplied by the Funding Rate, and the actual number of days of the Temporary Advance Period. “Temporary Advance Period” means the period commencing on (and including) the day on which a Temporary Advance is made and ending on (and
including) the day on which such Temporary Advance is repaid in full, and the “Funding Rate” means the interest rate that the Agent reasonably determines as the interest rate to fund the amount of Temporary Advance throughout the Temporary
Advance Period. The calculation method for such Temporary Advance Cost shall be on a per diem basis, inclusive of the first day and exclusive of the last day with divisions done at the end of the calculation, and fractions less than one Yen
(¥1) shall be rounded down.

			
	 30.
	  	“Temporary Advance”	  	 Means, with respect to a repayment by the Borrower on a Repayment Date, the act of payment by the Agent to the Lenders of
an amount equivalent to the amount to be distributed to the Lenders pursuant to this Agreement before the completion of the payment from the Borrower.

			
	 31.
	  	“Equivalent Securities”	  	 Means the Most Preferred Stock and the Equivalent Subordinated Debt.

			
	 32.
	  	“Equivalent Subordinated Debt”	  	 Means the obligations of the Borrower (i) which have conditions that are substantially similar to the conditions
provided for in Article 7-2, Paragraphs (1) through (5) and (ii) for which the rights with respect to interest and the conditions of redemption or repayment are substantially similar to those provided for in this Agreement.

			
	 33.
	  	“Non-Preferred Stock”	  	 Means the common stock of the Borrower and the shares to be issued by the Borrower which rank junior to the Equivalent
Securities with respect to the right to receive dividends from surplus and distribution of residual assets.

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 4 

					
	 34.
	  	“Repayment Date”	  	 Means, with respect to a principal payment relating to an Individual Loan, the Principal Payment Date, with respect to
interest, the Interest Payment Date, and with respect to the Commitment Fee or any other amount payable by the Borrower hereunder, the day specified as a day on which the payment shall be made pursuant to this Agreement.

			
	 35.
	  	“Laws and Ordinances”	  	 Means the treaties, laws, ordinances, municipal ordinances, ministerial ordinances, rules, announcements, judgments,
decisions, arbitral awards, directives, and policies of relevant authorities, which apply to this Agreement, the transactions under this Agreement, and/or the parties to this Agreement.

			
	 36.
	  	“Target Acquisition”	  	 Has the meaning given to “Target Acquisition” in the SSTL.

			
	 37.
	  	“Subordinated Claims”	  	 Means the claims (i) which have conditions that are substantially similar to the conditions provided for in Article
7-2, Paragraphs (1) through (5) and (ii) for which the rights with respect to interest and the conditions of redemption or repayment are substantially similar to those provided for in this Agreement, together with the claims under this
Agreement.

			
	 38.
	  	“Unused Commitment Amount”	  	 Means the amount remaining after deduction of the aggregate amount of the Individual Loans from the Commitment Amount
(without regard for whether any Individual Loans have been repaid). However, where a Borrower has refused a proposed disbursement of an Individual Loan by a Loan Impossibility Lender, such unfunded amount shall be deemed to be disbursed and shall be
counted toward the aggregate amount of Individual Loans for purposes of calculating the Unused Commitment Amount.

			
	 39.
	  	“Subordination Event”	  	 Means any of the events set forth in Article 7-2, Paragraphs (1) through
(5).

			
	 40.
	  	“SSTL”	  	 Means that certain senior short-term loan facility agreement dated as of October 26, 2018 among Takeda Pharmaceutical
Company Limited,, the lenders that are parties hereto, and Sumitomo Mitsui Banking Corporation, as administrative agent for the lenders.

			
	 41.
	  	“SSTL Maturity Date”	  	 Has the meaning given to “Maturity Date” in the SSTL.

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 5 

 Chapter 2        Commitment Terms 

Article 2-1        (Primary Commitment Terms) 

(1) Lending Obligation 
 Each Lender agrees to
bear the Lending Obligation to the Borrower under this Agreement, in accordance with the terms set out below. 
  

											
	 	 
	
Total Commitment Amount
	 	 The Total Commitment
Amount as of the execution date of this Agreement is as set out below (the Commitment Amount with respect to each Lender is listed in Attachment 1.).
  

JPY 500 billion

    

	 	 
	
Commitment Start Date
	 	
October 26, 2018

    

	 	 
	
Commitment Termination Date
	 	 The earlier of
(i) the SSTL Maturity Date or (ii) six months from the date of drawdown on the SSTL.
     

	 	 
	
Commitment Period
	 	 From (and including)
the Commitment Start Date until (and including) the Commitment Termination Date. Provided, however, that in the event that (i) the Lending Obligation is cancelled with respect to all of the Lenders prior to the Commitment Termination Date or
(ii) a Commitment Period Termination Event occurs, then the Commitment Period shall end on such earlier date of termination (inclusive).

    

	 	 
	
Number of Drawdowns
	 	 Each Lender agrees to
one (1) drawdown of Individual Loans in response to the Borrower’s request of a loan drawdown, in accordance with the terms of this Agreement.

    

	 	 
	
Commitment Fee Percentage
	 	 0.15% per annum from
Commitment Start Date until (and excluding) drawdown date of SSTL
  

0.20% per annum from drawdown date of SSTL until (and including) either Commitment Termination Date (in the event that the Commitment Period
ends before the Commitment Termination Date, the last day of the Commitment Period)
     

	 	 
	Commitment Fee Calculation Period	 	 From (and including) the Commitment Fee Calculation
Period Start Date until (and including) the Commitment Fee Calculation Period End Date, each Calculation Period applicable therein:

    

	 	 	 	 	 	 
	
        
	 	 	 	No.	 	 Commitment Fee Calculation Period Start Date

 
	 	 Commitment Fee Calculation Period End Date

 
	 	 
	 	 	 	 	 	 
	 	 	 	 	 1

 
	 	 Commitment Start Date

 
	 	 Last day of December 2018

 
	 	 
	 	 	 	 	 	 
	 	 	 	 	2	 	 The date immediately following Commitment Fee Calculation Period End
Date No. 1
  
	 	Last day of March 2019	 	 
	 	 	 	 	 	 
	 	 	 	 	3.	 	 The date immediately following Commitment Fee Calculation Period End
Date No. 2
     
  
	 	Last day of June 2019	 	 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 6 

											
	 	 	 	 	 	 
	 	 	 	 	4.	 	 The date immediately following Commitment Fee Calculation Period End
Date No. 3
     
	 	Last day of September 2019	 	 
	 	 	 	 	 	 
	 	 	 	 	5.	 	 The date immediately following Commitment Fee Calculation Period End
Date No. 4
     
	 	Last day of December 2019	 	 
	 	 	 	 	 	 
	 	 	 	 	6.	 	 The date immediately following Commitment Fee Calculation Period End
Date No. 5
  
	 	 Commitment Termination Date (in the event that the Commitment Period
ends before the Commitment Termination Date, the last day of the Commitment Period)
     
	 	 

			
	 	 
	Voluntary Reduction of Commitment Amount	 	 Borrower may, by submitting a
written request at least 5 days in advance of the proposed effective date setting out (i) the request for reduction of the Commitment Amounts, (ii) the reduction amount (to be a minimum of 100 million yen and in increments of
100 million yen thereafter) and (iii) the proposed effective date of the reduction, reduce the Total Commitment Amount by the said Commitment Amounts. Reductions to the Total Commitment Amount shall be pro rata across the Commitment
Amounts in accordance with the Participation Ratio of Lenders.
     

	Mandatory Reduction of Commitment Amount	 	 The
Total Commitment Amount of this Agreement shall be reduced by any incurrence of any Equivalent Subordinated Debt by the Borrower during the Commitment Period (provided, however, that this provision shall not apply with respect to incurrence of any
Equivalent Subordinated Debt denominated in a currency other than Yen) upon the date of funding (if notes or bonds) or execution of loan agreement (if loans) for such Equivalent Subordinated Debt, by the same amount as such funding or loan agreement
(in the case of incurrence of such debt denominated in any currency other than yen, such amount as translated into yen at the Exchange Rate as defined in the SSTL on such date.). Reductions to the Total Commitment Amount shall be pro rata across the
Commitment Amounts in accordance with the Participation Ratio of Lenders.
     

 (2) Individual Loans 

The Borrower may request the disbursement of Individual Loans in accordance with the applicable terms of this Agreement and under the terms set
out below, and the Lenders agree to make such Individual Loans. 
  

			
	 	 
	
Purpose of funds
	 	 Solely for repayment of the debt
borrowed pursuant to the SSTL on or before the SSTL Maturity Date.
  

The Agent and each Lender shall have no obligation to confirm that the Borrower uses the loan proceeds for such purpose.

    

	 	 
	
Deadline for submitting Drawdown Notice
	 	 By 10:00 am 3 Business Days prior
to the applicable Requested Drawdown Date.
     

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 7 

			
	 Deadline for delivery of Drawdown Notice to Lender

    
	 	 3
Days prior to the applicable Requested Drawdown Date.
  

	 	 
	
Longstop Drawdown Notice Date
	 	 3 Business Days prior to the SSTL
Maturity Date.
     

	 	 
	
Drawdown Notice Amounts
	 	 To be a minimum of
100 million yen and in increments of 100 million yen thereafter; provided that the foregoing is not required to be applied in the case of a request of a loan drawdown for the amount of the requested loan equal to the reasonably anticipated
balance of the loan under the SSTL as of the Requested Drawdown Date.
     

	 	 
	
Maturity Date
	 	 The date that is the sixtieth (60th) anniversary of the Drawdown Date.
     

	 	 
	
Principal Payment Date
	 	 Means the Maturity Date.

    

	 	 
	
Method of repayment of principal
	 	 Principal in the Principal Payment
Amount (as set out in Attachment 2) shall be paid in a lump sum on the Principal Payment Date.
     

	 	 
	
Prepayment
	 	 As separately provided in this
Agreement.
     

	 	 
	
Interest Period
	 	 The calculation period for
interest to be paid on an Interest Payment Date shall be as follows: the interest calculation period for the interest to be paid on the first Interest Payment Date (the “First Interest Period”; the same calculation method shall apply to
the second and each subsequent Interest Period thereafter) shall be the period from (and including) the Drawdown Date to (and including) the first Interest Payment Date. The second, and each subsequent, Interest Period shall be from (and including)
the last day of the preceding Interest Period to (and including) the succeeding Interest Payment Date.
     

	 	 
	
Base Rate
	 	 The six (6) month Japanese
Yen TIBOR Rate for such Interest Period published by the JBA TIBOR Administration (or in the event that the Japanese Yen TIBOR Rate-setting operations are assumed by a successor organization, such successor organization) on Telerate Screen
“17097” or successor page at 11:00 a.m., Tokyo time, or the nearest possible time after 11:00 a.m., Tokyo time, on the second (2nd) Business Day prior to (i) the Drawdown Date for the First Interest Period and (ii) the Interest
Payment Date for the immediately preceding Interest Period for the second, and each subsequent, Interest Period (in each case, the “Interest Determination Date”); provided, however, that, in the case where (i) the calculation and
publication of the Japanese Yen TIBOR Rate has been permanently ceased or the decision for such cessation has been made, the Borrower and the Lenders shall consult in good faith regarding the application of an alternative rate to Japanese Yen TIBOR
Rate, or (ii) the Japanese Yen TIBOR Rate or the rate determined in accordance with leg (i) hereof as a result of the permanent cessation of the calculation and publication of the Japanese Yen TIBOR Rate as set out thereunder, is not
published for any reason, the Base Rate shall be the rate (indicated as per annum rate) that is reasonably determined by the Agent as the offered rate applicable for a loan in Yen for six (6) months in the interbank market as of the Interest
Determination Date.
     

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 8 

			
	 	 
	
Spread
	 	 (1) From (and including) the
Drawdown Date to (but excluding) the tenth (10th) anniversary of the Drawdown Date:
  

2.00% per annum
  

(2) From (and including) the tenth (10th) anniversary of the Drawdown Date to (but
excluding) the twenty-sixth (26th) anniversary of the Drawdown Date
  

2.25% per annum
  

(3) After (and including) the twenty-sixth (26th) anniversary of the Drawdown Date

 
 3.00% per annum

    
  

	 	 
	
Applicable Interest Rate
	 	 The rate that is the sum of the
Base Rate and the Spread.
     
  

	 	 
	
Interest Payment Date
	 	 With respect to the first Interest
Payment Date, the date falling six (6) months following the Drawdown Date. For the second Interest Payment Date, the date falling one (1) year following the Drawdown Date, and for subsequent Interest Payment Dates up to the Maturity Date,
the date falling every six (6) months thereafter.
     

	 	 
	
Interest Payment Method
	 	 Interest calculated on the
principal portion of the Outstanding Individual Loan Amount for each Interest Period, multiplied by the Applicable Interest Rate and the actual number of days during the Interest Period (inclusive of the first day and exclusive of the last day) on a
per diem basis for each Lender (with divisions done at the end of the calculation and fractions less than one Yen (¥1) shall be rounded down) shall be paid on the Interest Payment Date for the relevant Interest Period. Where per diem
calculation is to be undertaken, calculation shall be done on the basis of a year of three hundred sixty five (365) days.

    

	 	 
	
Handling of holidays
	 	 In the case where a Repayment Date
for the principal and/or interest will fall on a day other than a Business Day, such Repayment Date shall instead be the next immediately succeeding Business Day, except if such succeeding Business Day falls in the succeeding calendar month, in
which case the Repayment Date shall be the immediately preceding Business Day.
     

 (3) Miscellaneous 
  

			
	 	 
	
Base day count
	 	 In the case where per diem
calculation is to be undertaken under this Agreement, calculation shall be done on the basis of a year of three hundred sixty five (365) days, unless otherwise provided in this Agreement.

    

	 	 
	
Syndicate Account
	 	 The current deposit account of the
Borrower with Sumitomo Mitsui Banking Corporation, Tokyo Business Department (Account No.: 239439, Account Holder: Takeda Pharmaceutical Company Limited).

    

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 9 

	Article 2-2	         (Conditions Precedent to Lending Obligation)

 Each Lender’s Lending Obligation shall be subject to each of the following conditions precedent: 

 

	 	(i)	 The relevant request for a loan drawdown satisfies the requirements set forth in this Agreement.

  

	 	(ii)	 The Lender’s Lending Obligation not been excused under Paragraph (4) of this Article.

  

	 	(iii)	 the matters represented and warranted by the Borrower in this Agreement are in all material aspects true and
correct; 

  

	 	(iv)	 the Borrower is not in violation of any provision of this Agreement and no such violation is realistically
and specifically threatened to occur after the applicable Requested Drawdown Date; 

  

	 	(v)	 The Target Acquisition is completed and the drawdown on the SSTL has occurred; and 

 

	 	(vi)	 the Borrower has submitted all the following documents to the Agent and all Lenders: 

 

	 	(a)	 evidence reasonably satisfactory to the Agent that any amounts borrowed and outstanding under the SSTL shall
be paid in full on the applicable Requested Drawdown Date (e.g., a payoff letter in connection with early repayment); 

  

	 	(b)	 a certificate of seal of the Borrower representative who affixes his/her name and seal to this Agreement
(one issued within three (3) months prior to the day of receipt and valid as of the date of execution of this Agreement); 

  

	 	(c)	 a certified copy of commercial registration or a certificate of all matters presently recorded or
certificate of all matters historically recorded (one issued within three (3) months prior to the day of receipt and valid as of the date of execution of this Agreement); 

 

	 	(d)	 a report of a seal or a signature in the form designated by the Agent; and 

 

	 	(e)	 a document certifying that the appropriate internal procedures have been completed with respect to the
execution of and the borrowing under this Agreement. 

  

	Article 2-3	         (Terms and Conditions of Extending the Loan)

  

	(1)	 To request a loan drawdown under this Agreement, the Borrower shall notify the Agent of such request by
delivering the original of the Drawdown Notice or transmitting a copy of such notice via facsimile to the Agent by no later than the applicable deadline for submitting such Drawdown Notice set out in this Agreement. If the Borrower has submitted the
Drawdown Notice via facsimile transmission addressed to the Agent, the Borrower shall confirm the Drawdown Notice was received by the Agent, by telephone or other method. The amount of the requested loan (which must be an amount that is consistent
with the Drawdown Notice Amount and does not exceed the Total Commitment Amount, and in no event less than the reasonably anticipated balance of the loan under the SSTL as of the date of the Requested Drawdown Date (excluding, however, any amounts
that are reasonably anticipated to be repaid from proceeds of Equivalent Subordinated Debt by (and including) the Requested Drawdown Date)) set out in a Drawdown Notice and the applicable Maturity Date shall be prescribed in such notice in
accordance with this Agreement, and the requested amount of any Individual Loan to be made by the Lenders in a Drawdown Notice shall not exceed the Commitment Amount of the relevant Lender as of the Requested Drawdown Date. 

 

	(2)	 Notwithstanding anything in the foregoing, if on the Longstop Drawdown Notice Date, (i) it is
reasonably anticipated that there will be outstanding balance of the loan under the SSTL on the SSTL Maturity Date (excluding, however, any amounts that are reasonably anticipated to be repaid from proceeds of

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 10 

	 	 
Equivalent Subordinated Debt by (and including) the SSTL Maturity Date) and (ii) the Borrower has not submitted a Drawdown Notice under this Agreement as of such date, the Borrower shall
deliver a Drawdown Notice with the Requested Drawdown Date being the SSTL Maturity Date in accordance with Paragraph (1) of this Article on the Longstop Drawdown Date. 

 

	(3)	 The Borrower’s notice requesting a drawdown of the loans set out in the preceding two Paragraphs with
respect to any Drawdown Notice shall take effect against each of the Lenders upon delivery of the relevant Drawdown Notice to, or receipt of such Drawdown Notice by, the Agent. The Borrower hereby acknowledges that upon delivery of a Drawdown Notice
to, or receipt of such Drawdown Notice by, the Agent in accordance with the preceding Paragraph, such Drawdown Notice shall be irrevocable and shall not be cancelled or modified with respect to any of the Lenders for any reason. Upon delivery of a
Drawdown Notice to, or receipt of such Drawdown Notice by, the Agent, the Agent shall notify each of the Lenders of the submission of the Drawdown Notice and its provisions by sending each of them a copy of such Drawdown Notice within the time
period prescribed in this Agreement. 

  

	(4)	 On the condition that all of the Lending Obligation conditions precedent set out in this Agreement have been
fulfilled as of the applicable Drawdown Date for an Individual Loan (whether or not a notice of non-lending has been issued under Paragraph (7) of this Article), during the Commitment Period, each Lender
shall bear the Lending Obligation. Whether the conditions precedent are fulfilled or not shall be judged by each Lender, and neither the other Lenders nor the Agent shall be responsible for the judgment made by such Lender, including any decision of
non-lending. 

  

	(5)	 If a request of a loan drawdown has been received in accordance with Paragraph (1) or (2) of this
Article and all Lending Obligation conditions precedent set out in this Agreement have been fulfilled as of the Drawdown Date for the relevant Individual Loan, each Lender shall deposit the Individual Loan Drawdown Amount to the Syndicate Account on
such Drawdown Date. The Individual Loan of the relevant Lender shall be deemed to have been made as of the time of the deposit of such amount into the Syndicate Account. 

 

	(6)	 In the case where a loan is extended under the preceding Paragraph, the Borrower shall promptly send a
receipt setting out the amount of the loan and the details of the Individual Loan to the Agent. The Agent shall, when it receives such receipt, promptly deliver a copy to the Lenders extending the Individual Loan. The Agent shall retain the original
of the receipt on behalf of the Lenders until the repayment of the full amount of the Outstanding Individual Loan Amount for the Individual Loan. 

  

	(7)	 A Lender that has decided not to make a loan for the reason that all or a part of the Lending Obligation
conditions precedent have not been fulfilled (the “Non-lending Lender”) may notify the Agent, the Borrower, and all other Lenders of the decision not to lend with the reason therefor; provided that,
in the case where such Individual Loan is not made even though all conditions precedent are fulfilled, the Non-lending Lender shall not be excused of liability for violation of the Lending Obligation.

  

	(8)	 In the case where Damages are incurred by the Lender and/or the Agent as a result of the Lender not being
able to extend an Individual Loan, the Borrower shall bear such Damages; provided, however that this shall not apply in the case where the non-lending of the Individual Loan is attributable to a violation of
the Lending Obligation by the Lender, in which case the Borrower shall be entitled to demand from such Non-lending Lender compensation for Damages, etc. within the range of reasonable causation in connection
with such violation. 

  

	Article 2-4	         (Exemption of Lender) 

 

	(1)	 In the event that it is determined by the Majority Lenders or the Agent that a Loan Impossibility Event has
occurred with respect to any Lender, the Agent shall promptly notify the Borrower and each of the Lenders in writing. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 11 

	(2)	 Following the issuance of a notice in accordance with the preceding Paragraph, if the Majority Lenders or
the Agent determine that there has been a cessation of the relevant Loan Impossibility Event, the Agent shall promptly notify the Borrower and each of the Lenders in writing of such cessation of the Loan Impossibility Event. 

 

	(3)	 During the period from (and including) the date upon which the Borrower receives a notice pursuant to
Paragraph (1) of this Article until (and including) the date upon which the Borrower receives a notice pursuant to Paragraph (2) of this Article (the “Loan Impossibility Period”), the affected Lender shall be excused from its
Lending Obligation. In this case, the Borrower shall not be required to pay to such Lender affected by the Loan Impossibility Event the amount of its Commitment Fee that is calculated by applying the Commitment Fee Percentage to the total amount of
the Unused Commitment Amounts for each of the days during the Loan Impossibility Period and dividing such total amount by 365 (and fractions less than one Yen (¥1) shall be rounded down). In the event that a Lender has already received
payment of such Commitment Fee amount, upon the end of the relevant Loan Impossibility Period, the Lender shall promptly refund such amount by directly depositing funds equivalent to such amount into the Syndicate Account for the account of the
Borrower. 

 Article 2-5         (Increased Costs
and Illegality) 
  

	(1)	 An Increased Costs Lender may, by notifying the Borrower in writing through the Agent and attaching a
reasonable cause for the occurrence of the Increased Costs, request the Borrower to bear the Increased Costs. 

  

	(2)	 In the case where a request from an Increased Costs Lender has been made under the preceding Paragraph, the
Borrower shall consult with the Increased Costs Lender and determine how to respond to such event. If the Borrower decides to bear the Increased Costs, the Borrower shall notify the Increased Costs Lender of such decision in writing through the
Agent. The Borrower shall pay to the Increased Costs Lender, on the day that is five (5) Business Days after the day such notice has been received by the Increased Costs Lender, funds equivalent to such Increased Costs as calculated in
accordance with this Agreement. 

  

	(3)	 If the execution and performance of this Agreement and any transactions hereunder violate the Laws and
Ordinances binding on any of the Lenders, the relevant Lender shall consult with the Borrower and all other Lenders, through the Agent, and determine how to respond to such event. 

Article 2-6         (Payment of Commitment Fees) 

 

	(1)	 The Borrower shall pay, on the day that is ten (10) Business Days following the last day of the
preceding Commitment Fee Calculation Period, a Commitment Fee in an amount calculated by applying the Commitment Fee Percentage to the total amount of the Unused Commitment Amount on each day within such Commitment Fee Calculation Period (provided
that with respect to any day where the Commitment Amount has been adjusted in accordance with Article 9-7 Paragraph (2) Item (2), the Unused Commitment Amount following such adjustment shall be used as
the reference) and dividing such total amount by 365 (and fractions less than one Yen (¥1) shall be rounded down). However, in the event that the Commitment Period ends before the Commitment Termination Date, with respect to the Commitment
Fee Calculation Period that ended on the last day of the Commitment Period, the Borrower shall pay as Commitment Fees for such Commitment Fee Calculation Period, an amount calculated by applying the Commitment Fee Percentage to the total amount of
the Unused Commitment Amount on each day starting from (and including) the Commitment Fee Calculation Period Start Date of such Commitment Fee Calculation Period until (and including) the last day of the Commitment Period (provided that with respect
to any day where the Commitment Amount has been adjusted in accordance with Article 9-7 Paragraph (2) Item (2), the Unused Commitment Amount following such adjustment shall be used as the

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 12 

	 	 
reference) and dividing such total amount by 365 (and fractions less than one Yen (¥1) shall be rounded down), on the day that is two (2) Business Days following the Commitment Fee
Calculation Period End Date with respect to such Commitment Fee Calculation Period as set out in in the table set out in the section titled “Commitment Fee Calculation Period” in Article 2-1
Paragraph (1) of this Agreement, and no Commitment Fees shall be payable by the Borrower thereafter. Unless otherwise provided in this Agreement, Borrower has no right to demand a refund of any Commitment Fees that have been paid to the
Lenders. 

  

	(2)	 In the event a Loan Impossibility Event occurs with respect to any Lender, the Borrower shall not be
required to pay to the affected Lender (the “Loan Impossibility Lender”) the amount of its Commitment Fee that is calculated by applying the Commitment Fee Percentage to the total amount of the Unused Commitment Amount on each day within
the relevant Loan Impossibility Period (provided that with respect to any day where the Commitment Amount has been adjusted in accordance with Article 9-7 Paragraph (2) Item (2), the Unused Commitment
Amount following such adjustment shall be used as the reference) and dividing such total amount by 365 (fractions less than one Yen (¥1) shall be rounded down). In the event that a Lender has already received payment of the relevant
Commitment Fee amount, upon the cessation of the relevant Loan Impossibility Period, the Lender shall promptly refund such amount by directly depositing such amount into the Syndicate Account for the account of the Borrower. For the purposes of this
Paragraph, “Loan Impossibility Period” means the period from (and including) the date upon which the relevant Loan Impossibility Event occurs until (and including) the day immediately before the Loan Impossibility End Date. The Loan
Impossibility End Date shall be determined as set out below: 

  

	 	(i)	 Where the Loan Impossibility Lender proposes to the Borrower through the Agent that with respect to a
Drawdown Notice that is subject to the relevant Loan Impossibility Event, it intends to disburse its Individual Loan at a later date, the Borrower gives its consent to such proposal, and the Individual Loan is thereafter disbursed, the date of the
disbursement of such Individual Loan; 

  

	 	(ii)	 Where a proposal pursuant to the preceding Item is made but consent is withheld by the Borrower, the date of
the Borrower’s refusal. In the event that a proposal is made in accordance with the preceding Item and the Agent does not receive a notice of consent from the Borrower within three (3) Business Days thereafter, consent to such proposal
shall be deemed to have been withheld by the Borrower; and 

  

	 	(iii)	 In any other circumstance not covered by the preceding two Items, on such date as agreed to among the
Borrower, the Loan Impossibility Lender and the Agent upon mutual consultation. 

 With respect to Item
(ii), for purposes of determining Commitment Fees payable to the Loan Impossibility Lender after (and including) the Loan Impossibility End Date, the unutilized Commitment shall be calculated as if the Individual Loan that was to be made under the
Drawdown Notice affected by the Loan Impossibility Event had been disbursed. 
  

	Article 2-7	         (Optional Deferral of Interest Payment)

  

	(1)	 With respect to each Interest Payment Date, the Borrower may, at its discretion, by giving a written notice
to the Agent and all Lenders by (and including) the day ten (10) Business Days before such Interest Payment Date, defer all or part of the interest under this Agreement to be paid on such Interest Payment Date (the “Optional Deferred Interest
Payment Date”) (such deferral of interest shall be hereinafter referred to as an “Optional Deferral,” and any amount of interest under this Agreement so deferred due to an Optional Deferral shall be hereinafter referred to as an
“Optional Deferred Payment Amount”) provided that in the case of any Optional Deferral with respect to a part of the interest due on the applicable Optional Deferred Interest Payment Date by the Borrower pursuant hereto, the amount of such
Optional Deferral Payment Amount shall be applied pro rata to each Lender in accordance with its 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 13 

	 	 
applicable Participation Ratio. Any Optional Deferred Payment Amount shall bear interest at the rate equivalent to the Applicable Interest Rate for the period from (and including) the Optional
Deferred Interest Payment Date to (and including) the date on which the Optional Deferred Payment Amount is paid in full (the “Additional Interest”; and the Optional Deferred Payment Amount and the Additional Interest thereon shall be
hereinafter collectively referred to as the “Optional Outstanding Payment Amount”) (For the avoidance of doubt, the amount of such Additional Interest in respect of such Optional Deferred Payment shall not bear interest itself.). The
calculation method for such Additional Interest shall be on a per diem basis, inclusive of the first day and exclusive of the last day, wherein divisions shall be done at the end of the calculation, and fractions less than one Yen
(¥1) shall be rounded down. 

  

	(2)	 Notwithstanding the provisions of Paragraph (1) of this Article, if any of the following events (a “Non-Preferred Stock Mandatory Payment Event”) occurs during a Mandatory Payment Reference Period, the Borrower shall pay, on the Interest Payment Date immediately following the end of the Mandatory
Payment Reference Period (referred to in this Article as the “Mandatory Payment Date”) or the Interest Payment Date immediately following the Mandatory Payment Date (referred to in this Article as the “Mandatory Payment Deadline
Date”), the entire balance of the Optional Outstanding Payment Amount as of such Mandatory Payment Date, provided, however, that with respect to any such Optional Outstanding Payment Amount as of the relevant Mandatory Payment Date that is paid
on the applicable Mandatory Payment Deadline Date pursuant to this Article, no Additional Interest shall be accrued and payable with respect to the period from (and including) the applicable Mandatory Payment Date to (and including) the applicable
Mandatory Payment Deadline Date: 

  

	 	(i)	 if the Borrower resolves to pay or makes payment of dividends from surplus (including interim dividends set
forth in Article 454, Paragraph 5 of the Companies Act and less than full dividends) on the Non-Preferred Stock of the Borrower; or 

 

	 	(ii)	 if the Borrower repurchases or acquires any Non-Preferred Stock of
the Borrower (excluding the case where any of the below items apply): 

  

	 	(a)	 Article 155, Items 8 through 13 of the Companies Act; 

 

	 	(b)	 purchase demand by a shareholder with less than 1 unit of stock under Article 192, Paragraph 1 of the
Companies Act; 

  

	 	(c)	 purchase demand by an opposing shareholder under Article 469, Paragraph 1; Article 785, Paragraph 1; Article
797, Paragraph 1; and/or Article 806, Paragraph 1 of the Companies Act; 

  

	 	(d)	 purchase demand by an opposing shareholder under Article 116, Paragraph 1 of the Companies Act;

  

	 	(e)	 from subsidiaries pursuant to Article 163 of the Companies Act in response to Article 135, Paragraph 3 of
the Companies Act; 

  

	 	(f)	 any other acquisition to satisfy the Borrower’s purchase obligations pursuant to the Laws and
Ordinances, etc.; 

  

	 	(g)	 with respect to any acquisition under Articles 156, 160 and/or 165 of the Companies Act, where such stock
was acquired with the intent of being disposed for a stock ownership plan or other stock compensation or in exchange for the exercise of share warrants. The Borrower, upon the request of any Lender and/or the Agent, shall provide documents, etc.
that reasonably provide evidence of such intent with respect to the relevant acquisition of the Non-Preferred Stock of the Borrower, and deliver such evidence to the relevant Lender and/or the Agent.

  

	(3)	 Notwithstanding the provisions of Paragraph (1) of this Article, if dividends or interest have been
paid in respect of the Equivalent Securities (excluding, however, any such payments made in connection with the 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 14 

	 	 
repayment of any Equivalent Securities) during the period from (and including) an Optional Deferred Interest Payment Date to (and excluding) the Interest Payment Date immediately following such
Optional Deferred Interest Payment Date (such event shall be hereinafter referred to as the “Equivalent Securities Mandatory Payment Event”), the Borrower shall pay, on the Interest Payment Date immediately following such Optional Deferred
Interest Payment Date (referred to in this Article as the “Equivalent Securities Mandatory Interest Payment Date”), the entire Optional Outstanding Payment Amount as of the Equivalent Securities Mandatory Interest Payment Date related to
such Optional Deferred Interest Payment Date. 

  

	(4)	 Notwithstanding the provisions of Paragraph (1) of this Article, if the interest payable under this
Agreement on an Interest Payment Date immediately following an Optional Deferred Interest Payment Date has not been made into an Optional Deferral, the Borrower shall pay the entire balance of any Optional Deferred Payment Amount on such Interest
Payment Date. 

  

	(5)	 [Intentionally Omitted]. 

 

	(6)	 [Intentionally Omitted]. 

 

	(7)	 If the Borrower pays only a part of the Optional Outstanding Payment Amount, such payment shall be applied
to the Optional Outstanding Payment Amount in sequential order, from those with the earliest Optional Deferred Interest Payment Date to the latest, and if the Optional Deferred Interest Payment Dates fall on the same day, then firstly to Additional
Interest and secondly to the Optional Deferred Payment Amount. Upon such application, if the amount available for application falls short of the amount of any Additional Interest or Optional Deferred Payment Amount, such amount shall be applied to
such item, in proportion to the amount of each payment obligation owed by the Borrower regarding such item, which have become due and payable. 

  

	(8)	 Notwithstanding the provisions of Paragraphs (1) through (7) of this Article, the Borrower shall pay
the entire Optional Outstanding Payment Amount on the Maturity Date. 

  

	(9)	 If the Borrower makes payment as provided for in this Article, the Borrower shall give to the Agent and all
Lenders a prior written notice of the amount desired for payment and the desired payment date, by ten (10) Business Days prior to the desired payment date. Such notice shall be irrevocable by the Borrower. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 15 

 Chapter 3         Representations and Warranties of the
Borrower 
 Article 3-1        (Representations and Warranties of
the Borrower) 
 The Borrower represents and warrants to the Lenders and the Agent that each of the following matters is
true and correct as of the execution date of this Agreement and the Drawdown Date of Individual Loans and if it is found out that such representations and warranties are not true on any later date, then immediately notify the Lenders and the Agent
of such effect in writing and bear any and all Damages within the range of reasonable causation incurred by the Lenders or the Agent arising therefrom: 
  

	 	(i)	 The Borrower is a stock company duly incorporated and validly existing under the laws of Japan;

  

	 	(ii)	 The Borrower does not fall under any of Items (a) through (i) of Paragraph (1) of
Attachment 4 and has no relationship set forth in any of Items (a) through (e) of Paragraph (2) of Attachment 4. 

  

	 	(iii)	 The Borrower has all necessary complete legal power and right to execute and perform this Agreement, and the
execution and performance of this Agreement, and the transactions hereunder, are within the corporate purposes of the Borrower, and the Borrower has duly completed all procedures necessary therefor under the Laws and Ordinances, the Articles of
Incorporation and other internal company rules of the Borrower; 

  

	 	(iv)	 The execution and performance of this Agreement, and the transactions hereunder, do not violate (a) any
Laws and Ordinances which bind the Borrower, (b) the Articles of Incorporation and other internal company rules of the Borrower, and (c) any third-party contract to which the Borrower is a party or which binds the Borrower, or its assets;

  

	 	(v)	 The person who signed or attached his/her name and seal to this Agreement as the representative of the
Borrower is authorized to sign or attach his/her name and seal to this Agreement as the representative of the Borrower by all procedures necessary pursuant to the Laws and Ordinances, the Articles of Incorporation or other internal company rules of
the Borrower; 

  

	 	(vi)	 Each of this Agreement and the SSTL constitutes legal, valid and binding obligations of the Borrower, and is
enforceable against it in accordance with its terms, and the Borrower has not asserted to the contrary in writing; 

  

	 	(vii)	 The financial statements (consolidated and non-consolidated)
contained in the annual reports, semi-annual reports, quarterly reports, extraordinary reports, amended reports, etc. set forth in the Financial Instruments and Exchange Act (each of the above documents shall be referred to as the
“Reports”) prepared by the Borrower are duly prepared in accordance with generally accepted accounting principles and with the opinion of appropriateness after the audit (including the quarterly review) of the audit corporation;

  

	 	(viii)	 From the last day of the business year ending June 2018, no material change, which might cause a
deterioration of the business, assets, or financial condition of the Borrower as described in the Reports of that business year and which may materially affect the performance of the obligations under this Agreement, has occurred;

  

	 	(ix)	 As of the execution date of this Agreement, the Borrower is a company which is required to submit annual
securities reports (yuuka shouken houkoku teishutsu kaisha), and is a corporation that is required to obtain audit certificates as prescribed by the Financial Instruments and Exchange Act (Kin’yuu shouhin torihiki hou) of Japan,
and which falls within any of the items set out in Article 2, Paragraph 1 of the Act on Specified Commitment Line Contract (Tokutei yuushiwaku keiyaku ni kansuru houritsu). 

 

	 	(x)	 No lawsuit, arbitration, administrative procedure, or any other dispute has commenced or is actually and
specifically threatened with respect to the Borrower which will or may materially cause adverse effects on the performance of its obligations under this Agreement; and 

 

	 	(xi)	 No Subordination Event has arisen, or is likely to arise. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 16 

 Chapter 4         Obligations of the Borrower

 Article 4-1        (Obligations of the Borrower) 

 

	(1)	 The Borrower covenants to perform, at its expense and responsibility, the matters described in each of the
following Items on and after the date of this Agreement, until the later of the termination of this Agreement or when the Borrower performs its obligations under this Agreement to the Lenders and the Agents in full: 

 

	 	(i)	 On the occurrence of any Subordination Event, Tax Event, Equity Credit Change Event, Non-Preferred Stock Mandatory Payment Event or Equivalent Securities Mandatory Payment Event, or the likelihood thereof, it shall immediately inform the fact thereof to the Agent and all Lenders;

  

	 	(ii)	 In the case where the Borrower prepares Reports, it shall submit a copy of such Reports together with the
audit report (including the quarterly review report) to the Agent and all Lenders promptly after filing with the Director General of the competent finance bureau; in the case where electronic disclosure of Reports is made on the electronic
disclosure system for disclosure documents such as securities reports, etc. under the Financial Instruments and Exchange Act (EDINET: http://info.edinet.go.jp/), the above disclosure will be deemed fulfilled at the time of such disclosure,
without any notice to the Agent and all Lenders or other action required; provided that, in the case where any Lender requires a copy of Reports, a copy shall be provided to the relevant Lender; 

 

	 	(iii)	 When based on reasonable cause requested by the Agent or any Lender through the Agent, the Borrower shall
promptly, to the extent reasonably practicable, provide the Agent and all Lenders with a report regarding the assets, management, and business circumstances of the Borrower, and its subsidiaries, etc. (meaning a subsidiary and affiliate company as
provided in the Regulations Concerning Terminology, Forms and Method of Preparation of Financial Statements, etc.; for the definition of “subsidiaries, etc.”, it will not matter if the Reports of the Borrower are prepared in accordance
with such Regulations; the same shall apply hereinafter), or provide necessary cooperation for an audit thereof to the extent reasonably practicable and as long as it does not interfere with the business operations of the Borrower and its
subsidiaries; 

  

	 	(iv)	 In the case where a material change occurs to the assets, management, and business circumstances of the
Borrower and its subsidiaries, etc., or such change is actually and specifically likely to occur with the passage of time, or in the case of a lawsuit, arbitration, administrative procedure, or any other dispute, which will materially affect the
performance of the obligations of the Borrower under this Agreement, has commenced, or is likely to commence, it shall promptly report the fact thereof to the Agent and all Lenders; 

 

	 	(v)	 In the case where the representations and warranties of the Borrower made under this Agreement are
discovered to be contrary to fact, it shall promptly report the fact thereof to the Agent and all Lenders; and 

  

	 	(vi)	 In the case where, in addition to any Equity Credit Change Event, where a rating is newly assigned or an
existing rating is withdrawn, suspended, or deferred, it shall immediately notify the Agent and all Lenders of the fact thereof. 

  

	 	(vii)	 Upon completion of the Target Acquisition and drawdown on the SSTL, the Borrower shall promptly notify the
Agent and all the Lenders of the fact thereof (including without exception the drawdown date, disbursement amount and maturity date, etc.). 

  

	 	(viii)	 If the Borrower intends to make any prepayment of the SSTL, the Borrower shall immediately notify the Agent
and all the Lenders of the fact thereof (including without exception the proposed prepayment date and amount, etc.). 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 17 

	 	(ix)	 If the Borrower has incurred, prior to the Drawdown Date, any other subordinated debt of the same priority
as the Loan Claims under this Agreement, the Borrower shall immediately notify the Agent and all the Lenders of the fact thereof (including without exception the date of incurrence, the amount of incurrence, whether equity, etc.).

  

	(2)	 The Borrower shall not offer any security to secure all or any part of its obligations under this Agreement
for the benefit of any Lender on and after the date of this Agreement and until the later of the termination of this Agreement or the Borrower performs all of its obligations under this Agreement to the Lenders and the Agent in full. For the purpose
of this Article, the offer of security shall mean the creation of a security interest on any asset of the Borrower, or the promise to create a security interest on an asset of the Borrower, and does not include any lien and reserved right, etc.,
established as a matter of course under Laws and Ordinances. 

  

	(3)	 The Borrower shall, on and after the date of execution of this Agreement, and until the later of the
termination of this Agreement or the Borrower performs all of its obligations under this Agreement to each Lender and the Agent in full, affirmatively covenants to comply with the matters described in the Items below: 

 

	 	(i)	 The Borrower shall maintain licenses and other similar permits that are necessary to conduct its main
business, and continue to carry out its business in compliance with all Laws and Ordinances, provided, however, that any such failure to maintain licenses and other similar permits or non-compliance with Laws
and Ordinances that does not materially impact the performance of its obligations under this Agreement shall not constitute a breach of this provision; 

  

	 	(ii)	 The Borrower shall not change its main business in a manner that would have, or threaten to have, a non-immaterial adverse effect with respect to the performance of its obligations under this Agreement; 

  

	 	(iii)	 The Borrower shall not, until the Borrower performs all of its obligations under this Agreement to Lenders
and the Agent in full, subordinate the payment of any of its debts under this Agreement to the payment of any other Equivalent Securities outstanding as of the Repayment Date thereof, or at least will treat them pari passu;

  

	 	(vi)	 The Borrower shall not fall under any of Items (a) through (i) of Paragraph (1) of
Attachment 4 and shall not have any relationship set forth in any of Items (a) through (e) of Paragraph (2) of Attachment 4; and 

 

	 	(v)	 The Borrower shall not engage in any conduct itself or through a third party falling under any of Items
(a) through (e) of Paragraph (3) of Attachment 4. 

  

	(4)	 The Borrower shall immediately notify all Lenders through the Agent in writing upon receipt of any service
of an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) with respect to the loan claim related to an Individual Loan,
together with a photocopy of such order. 

  

	(5)	 The Borrower, upon obtaining knowledge of any Default or Event of Default (in each case as defined in the
SSTL) under the SSTL, shall immediately notify the Agent and all Lenders of the fact thereof. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 18 

 Chapter 5         No Acceleration 

Article 5-1        (No Acceleration) 

The Agent or any Lender may, in no event, accelerate any payment by the Borrower with respect to any of its obligations under
this Agreement. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 19 

 Chapter 6         Termination of the Commitment Period

 Article 6-1        (Termination of the Commitment Period)

  

	(1)	 If any of the events set out in the Items below occur (a “Commitment Period Termination Event”),
the Lending Obligations of all of the Lenders shall be cancelled, and the Commitment Period with respect to all of the Lenders shall automatically terminate. Notwithstanding the occurrence of any such event, the Borrower shall repay principal and
interest on outstanding Individual Loans on the applicable Repayment Date. Until the Borrower performs all of its obligations under this Agreement to each Lender and the Agent in full, the relevant terms and conditions of this Agreement shall
continue to apply and be in effect with respect to the fulfillment of any outstanding obligations: 

  

	 	(i)	 The Commitment Termination Date arrives; 

 

	 	(ii)	 The total number of drawdowns of the loan with respect to each Lender has become one (1);

  

	 	(iii)	 The total amount of loans that have been drawn down is equivalent to the Total Commitment Amount;

  

	 	(iv)	 The Borrower in writing (a) requests the termination of the Commitment Period, (b) gives the
reason for such request, and (c) sets out the proposed Commitment Period termination date and provides such written request to the Agent and all of the Lenders at least 5 Business Days prior to the proposed Commitment Period termination date;

  

	 	(v)	 This Agreement and/or the SSTL shall cease to be valid and enforceable against the Borrower or the Borrower
shall so assert in writing; 

  

	 	(vi)	 Any advances made pursuant to the SSTL has been accelerated, or the Commitment Termination Date has occurred
without the occurrence of a drawdown of loans under the SSTL; or 

  

	 	(vii)	 A Subordination Event has occurred. 

 

	(2)	 [Intentionally Omitted.] 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 20 

	Chapter 7        Terms	 and Conditions of Repayment of Obligations 

 

	Article 7-1       (Performance	 of Obligations of the Borrower) 

 

	(1)	 In order to repay its obligations under this Agreement, the Borrower shall transfer the relevant amount to
the Syndicate Account by the Due Time, for those obligations for which a Repayment Date is provided under this Agreement, or immediately upon the request of the Agent, for those obligations for which the Repayment Date is not provided under this
Agreement. In such case, the obligation of the Borrower to the Agent or the Lenders shall be deemed to have been performed upon the withdrawal by the Agent of the relevant amount from the Syndicate Account. The Agent shall make the withdrawal on the
Repayment Date for those obligations for which the Repayment Date is provided under this Agreement, or promptly after the date of transfer of such amount for those without a provision of the Repayment Date. 

 

	(2)	 The Borrower grants to the Agent the authority to withdraw amounts from the Syndicate Account in accordance
with the preceding Paragraph, and waives the right to cancel such delegation (the Borrower shall not need to issue any check or demand for withdrawal in order to make such withdrawal). 

 

	(3)	 Unless otherwise provided for in this Agreement, if a payment of obligations under this Agreement by the
Borrower is made directly to the Lenders without going through the Agent in violation of Paragraph (1) of this Article, such payment shall not be deemed to constitute a performance of obligations under this Agreement. In this case, the Lender
receiving such payment shall immediately pay the money it receives to the Agent, and the obligations with respect to such money shall be deemed to have been performed upon the receipt by the Agent of such money. The Borrower may not perform its
obligations under this Agreement by accord and satisfaction (daibutsu-bensai) unless the Agent and all Lenders give their prior written consent. 

  

	(4)	 Payments by the Borrower under this Article shall be applied in the order set forth below (for purposes of
this Agreement, such order shall be referred to as the “Order of Allocation”): 

  

	 	(i)	 the expenses the Agent has incurred in place of the Borrower which are to be borne by the Borrower under
this Agreement, and the Agency Fee; 

  

	 	(ii)	 the expenses payable to a third party which are to be borne by the Borrower under this Agreement;

  

	 	(iii)	 the expenses any Lender has incurred in place of the Borrower which are to be borne by the Borrower under
this Agreement; 

  

	 	(iv)	 default interest and Break Funding Cost; 

 

	 	(v)	 Commitment Fees; 

  

	 	(vi)	 interest on the loans, other than the Optional Deferred Payment Amount and the Additional Interest;

  

	 	(vii)	 the Optional Deferred Payment Amount and the Additional Interest; and 

 

	 	(viii)	 principal of the loans. 

 

	(5)	 Upon the application as set forth in the preceding Paragraph, in the case where the amount to be applied
falls short of the amount under any of the Items, with respect to the first Item not fully covered (the “Deficient Item”), the amount remaining after the application to the Items of the higher order of priority shall be applied pro rata in
proportion to the amount of individual payment obligations owed by Borrower under the Deficient Item which have become due and payable (provided that Item (vi) shall be subject to Article 2-7, Paragraph
(7)) (such allocation method shall be hereinafter referred to as the “Deficient Item Allocation Method”). 

  

	(6)	 Unless required by the Laws and Ordinances, the Borrower shall not deduct Taxes and Public Charges from the
amount of obligations to be paid pursuant to this Agreement. In the case where it is necessary 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 21 

	 	 
to deduct Taxes and Public Charges from the amount payable by the Borrower, the Borrower shall additionally pay the amount necessary in order for the relevant Lender or the Agent to be able to
receive the amount that it would receive if no Taxes and Public Charges were imposed. In such case, the Borrower shall, within thirty (30) days from the date of payment by itself, directly send to such Lender or Agent a certificate of tax
payment in relation to withholding taxes issued by the tax authorities or other competent governmental authorities in Japan. 

  

	Article 7-2       (Subordination)	 

  

	(1)	 In the case where, with respect to the Borrower, the liquidation proceedings (including ordinary liquidation
and special liquidation under the Companies Act; the same shall apply hereinafter) have been commenced and such liquidation proceedings continue, the right to payment of the claims under this Agreement shall take effect when the conditions precedent
set forth below are fulfilled. 

 (Conditions precedent) 

In the liquidation proceedings against the Borrower, the full amount of all claims other than the Subordinated Claims among the
claims held by the Borrower’s creditors who have the rights to receive payments or repayment before commencement of the distribution of residual assets to the shareholders is fully paid in accordance with the provisions of the Companies Act or
the full amount of the same is satisfied by any other method. 
  

	(2)	 In the case where, with respect to the Borrower, commencement of the bankruptcy proceedings has been decided
and such bankruptcy proceedings continue, the right to payment of the claims under this Agreement shall take effect when the conditions precedent set forth below are fulfilled. 

(Conditions precedent) 

The full amount of all claims other than the Subordinated Claims among the claims to be added to the distribution, which are
described in the distribution list (if amended, the amended distribution list) prepared by the bankruptcy trustee for the final distribution in such bankruptcy proceedings is fully paid, or the full amount of the same is satisfied by any other
method (including distribution and statutory deposit). 
  

	(3)	 In the case where, with respect to the Borrower, commencement of reorganization proceedings has been decided
and such reorganization proceedings continue, the right to payment of the claims under this Agreement shall take effect when the conditions precedent set forth below are fulfilled. 

(Conditions precedent) 

In the reorganization proceedings of the Borrower, the fixed amount of all claims other than the Subordinated Claims among the
claims to be modified, which are described in the reorganization plan at the time when a decision of approval of the reorganization plan is final and binding, is fully paid, or the full amount of the same is satisfied by any other method. 

 

	(4)	 In the case where, with respect to the Borrower, commencement of rehabilitation proceedings has been decided
and the rehabilitation proceedings continue without a decision on simplified rehabilitation or consensual rehabilitation, the right to payment of the claims under this Agreement shall take effect when the conditions precedent set forth below are
fulfilled. 

 (Conditions precedent) 

In the rehabilitation proceedings of the Borrower, the fixed amount of all the claims other than the Subordinated Claims among
the claims to be modified, which are described in the rehabilitation plan at the time when a decision of approval of the rehabilitation plan is final and binding, is fully paid, or the full amount of the same is satisfied by any other method. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 22 

	(5)	 In the case where, with respect to the Borrower, commencement of liquidation proceedings, bankruptcy
proceedings, reorganization proceedings, rehabilitation proceedings or proceedings equivalent thereto is decided in a foreign country in accordance with laws other than the laws of Japan, the right to payment of the claims under this Agreement shall
procedurally take effect in such proceedings when conditions corresponding to the conditions precedent set forth in Paragraphs (1) through (4) of this Article are fulfilled; provided, however, that, in the case where such conditions are not
procedurally allowed to be attached, such right shall take effects without such fulfillment. 

  

	(6)	 In the case where after a Subordination Event, there is a commencement of liquidation proceedings,
bankruptcy proceedings, reorganization proceedings, rehabilitation proceedings or proceedings equivalent thereto in a foreign country in accordance with laws other than the laws of Japan, each Lender, with respect to its Individual Loan shall be
deemed to have a payment claim under this Agreement for an amount calculated in accordance with the items below, and the Borrower shall not be obligated to pay each Lender beyond such amount: 

 

	 	(i)	 the principal amount of its Individual Loans outstanding at the time of the occurrence of the Subordination
Event; and 

  

	 	(ii)	 the Optional Outstanding Payment Amount and Default Interest accrued on the principal amount of its
Individual Loans as of such date and interest on the unpaid balance, if such date falls on the same date as an Interest Payment Date; 

  

	(7)	 Any amendment to any of the provisions of this Agreement to the disadvantage of the creditors of the
Borrower other than the creditors of the Subordinated Claims is prohibited by any means, and any agreement on such amendment takes no effect by any means and with respect to any person. 

 

	(8)	 In the case where a Subordination Event has occurred and continues, the right to payment of the claims under
this Agreement shall be the sum derived by multiplying the total amount of cash available for repayment from all of the Equivalent Securities (where Most Preferred Stock exists, the amount that is the aggregate of the distributions that would be
paid out of the residual assets of the Borrower if all of the Subordinated Claims were composed of the Most Preferred Stock) by (i) the amount of such payment claims under this Agreement divided by (ii) the amount of all of the payment
claims with respect to such Equivalent Securities (in the case of the Most Preferred Stock, capped the amount where if it is anticipated there is no shortfall of cash available for repayment, distributions out of the residual assets of the Borrower)
and such payment claims shall only be exercised within the range of such amount. 

  

	(9)	 In the case where a Subordination Event has occurred and continues, if, despite the fact that the right to
payment of the claims under this Agreement do not take effect in accordance with Paragraphs (1) through (5) of this Article, all or a part of the claims are paid to the Lenders, the payment shall be invalid and the Lenders shall immediately
return such payment to the Borrower through the Agent. 

  

	(10)	 As long as the right to payment of the claims under this Agreement has not taken effect in accordance with
Paragraphs (1) through (5) of this Article, the right to payment of the claims under this Agreement may not be used for setoff. However, even in the event that the right to payment of the claims under this Agreement has taken effect in
accordance with Paragraphs (1) through (5) of this Article, the right to payment of the claims under this Agreement may only be used for setoff within the range for the exercise of such rights permitted under Paragraph 8 of this Article.

  

	(11)	 In the case where payments of any obligation under this Agreement are delayed to the Repayment Date since
the right to payment of the claims under this Agreement has not taken effect in accordance with Paragraphs (1) through (5) of this Article, the Lenders may not claim interest or any other payment in connection with the delay.

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 23 

	Chapter 8        Terms	 and Conditions to Prepayment 

 

	Article 8-1       (Terms	 and Conditions to Prepayment) 

 

	(1)	 The Borrower may not make any prepayment of the principal of an Individual Loan, except for (i) in the
case where, after the occurrence of a Subordination Event, the conditions precedent regarding such Subordination Event have been fulfilled, or (ii) in the cases set forth in Paragraphs (2) through (3) of this Article.

  

	(2)	 Except for the case where a Subordination Event has occurred and continues, if the Borrower gives to the
Agent and all Lenders a written notice of its intention to make a prepayment (including the information regarding (a) the amount desired for the prepayment and (b) the desired date to make the prepayment; the same shall apply in this
Article) by ten (10) Business Days prior to an Available Prepayment Date, the Borrower may repay to the Lenders all or a part (which shall be one hundred million Yen (¥100,000,000) or more with an increment of one hundred million Yen
(¥100,000,000); the same shall apply in this Article) of the principal amount of the Individual Loans on the Available Prepayment Date, as well as the payment of the interest payable on the day on which such prepayment is to be made. If there is
any Optional Outstanding Payment Amount on the day on which such prepayment is to be made, the Borrower shall pay, with respect to all Optional Outstanding Payment Amount, the Optional Deferred Payment Amount obtained by multiplying the Optional
Outstanding Payment Amount by the percentage of the aggregate principal amount of the Individual Loans subject to such prepayment to the aggregate principal amount of the Outstanding Individual Loan Amount, together with the Additional Interest
thereon (if any). 

  

	(3)	 In the case where a Tax Event or an Equity Credit Change Event has occurred, except for the case where a
Subordination Event has occurred and continues, the Borrower may, by giving to the Agent and all Lenders a written notice of its intention to make a prepayment by thirty (30) Business Days prior to the desired date to make such prepayment
(which shall be a Business Day), repay to the Lenders all or a part of the principal amount of the Individual Loans, as well as the payment of the interest payable on the day on which such prepayment is to be made and the Break Funding Cost (if
any). If there is any Break Funding Cost, each Lender shall notify the Agent of the Break Funding Cost by two (2) Business Days prior to the day on which such prepayment is to be made, and the Agent shall notify the Borrower of the details of
such notice by the Business Day immediately preceding the day on which such prepayment is to be made. If there is any Optional Outstanding Payment Amount on the day on which such prepayment is to be made, the Borrower shall pay, with respect to all
Optional Outstanding Payment Amount, the Optional Deferred Payment Amount obtained by multiplying the Optional Outstanding Payment Amount by the percentage of the aggregate principal amount of the Individual Loans subject to such prepayment to the
aggregate principal amount of the Outstanding Individual Loan Amount, together with the Additional Interest thereon (if any). 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 24 

	Chapter 9        Syndication	 Terms 

  

	Article 9-1       (Rights	 and Obligations of the Lenders) 

 

	(1)	 Unless otherwise provided in this Agreement, the obligations of the Lenders under this Agreement shall be
independent, and a Lender shall not be released from its obligations under this Agreement for the reason that any other Lender fails to perform such obligations. A Lender shall not be responsible for the failure of any other Lender to perform its
obligations under this Agreement. 

  

	(2)	 If a Lender, in breach of its Lending Obligation, fails to extend the Individual Loan on the Requested
Drawdown Date, such Lender shall, upon request by the Borrower, immediately compensate the Borrower for all Damages incurred by the Borrower as a result of such breach of the Lending Obligation; provided, however, that the compensation to the
Borrower for such Damages shall be limited to the maximum of the difference between the interest and other expenses that are required or would be required to be paid when the Borrower separately borrows money as a result of the Individual Loan not
being made on the Requested Drawdown Date and the interest and other expenses that would have been required to be paid if the Individual Loan were made on the Requested Drawdown Date. 

 

	(3)	 Unless otherwise provided in this Agreement, the rights of the Lenders under this Agreement are independent
and each Lender may exercise its rights under this Agreement separately and independently. 

  

	Article 9-2       (Distributions	 to the Lenders) 

 

	(1)	 In the case where any amount remains after deducting the amounts under Items (i) and (ii) of the Order
of Allocation from the amount withdrawn from the Syndicate Account in accordance with this Agreement, the Agent shall immediately distribute such remaining amount to each Lender in accordance with the provisions of this Article; provided, however,
that if such amount was withdrawn from the Syndicate Account as Increased Costs to an Increased Costs Lender, notwithstanding the provisions of this Article, the Agent shall promptly distribute such money to the Increased Costs Lender. If an order
for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae) or attachment (sashiosae) with respect to the deposit claim in the Syndicate Account is served on the
Agent prior to a withdrawal from the Syndicate Account, the Agent shall have no responsibility to make any withdrawal from the Syndicate Account or any distribution under this Article. In the case where the Agent makes a distribution under this
Article in spite of such service of an order, absent willful act or gross negligence on the part of the Agent, the Lenders who received such distribution will return to the Agent the amounts that were distributed immediately upon the request of the
Agent. In the case where the refund of distribution is made by the Lenders and the Agent returns the money to the Syndicate Account, the obligations paid by such money by the Borrower shall retroactively become unperformed as of the time of
withdrawal of such money from the Syndicate Account. 

  

	(2)	 In the case where, prior to a distribution by the Agent to the Lenders in accordance with this Article,
(i) an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae) or attachment (sashiosae) with respect to a loan claim related to the Individual
Loans is served on the Borrower, or (ii) a loan claim related to the Individual Loans is assigned, the rights and obligations of the Borrower, the Agent and the Lenders shall be subject to the following provisions: 

 

	(a)		  (I)	 In the case where the Agent completes the distribution to the Lenders pursuant to this Article before receiving a notice from the Borrower
that an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae) or attachment (sashiosae) with respect to a loan claim was served on the Agent:

 In this case, even if the creditor obtaining an order for provisional attachment
(kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae), the 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 25 

 
Borrower, the Lenders or any other third party suffers any Damages as a result of such distribution by the Agent and the withdrawal from the Syndicate Account prior to such distribution, the
Agent shall not be liable in relation thereto, and the relevant Lender with respect to such loan claim shall deal with the matter at its own cost and liability. The relevant Lender with respect to such loan claim shall compensate the Agent for any
Damages, if any, incurred by the Agent due to such withdrawal and distribution. 
  

	 	(II)	 In the case where the Agent, after the withdrawal of the relevant amount from the Syndicate Account in
accordance with this Agreement and before the completion of a distribution to the Lenders pursuant to this Article, receives a notice from the Borrower that an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) with respect to the loan claim for which such distribution was made was served on the Agent: 

In this case, (i) with respect to the amount subject to such notice, the Agent may withhold the distribution pursuant to
this Article, and may take other measures in the manner that the Agent deems reasonable; and (ii) the Agent shall distribute the money withdrawn from the Syndicate Account other than the money subject to such notice to all Lenders other than
the Lenders subject to such notice. If the creditor obtaining an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae),
the Borrower, the Lender or any other third party suffers any Damages as a result of the distribution and the withdrawal from the Syndicate Account prior to such distribution by the Agent pursuant to (i) of this Item, the Agent shall not be
liable in relation thereto, and the relevant Lender with respect to such loan claim shall deal with the matter at its own cost and liability. The relevant Lender with respect to such loan claim shall compensate the Agent for any Damages, if any,
incurred by the Agent due to such withdrawal and distribution. 
  

	 	(III)	 In the case where the Agent receives a notice from the Borrower of receipt of a service of an order for
provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) with respect to a loan claim under this Agreement prior to a withdrawal from
the Syndicate Account in accordance with this Agreement: 

 In this case, (i) the Agent shall not
withdraw the money subject to such notice from the Syndicate Account in accordance with this Agreement; provided that, notwithstanding such notice, in the case where the notice of the receipt of the service of an order for provisional attachment
(kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) is not received from the Borrower in accordance with this Agreement by the Business Day immediately
preceding the day of withdrawal by the Agent, the Agent may make the withdrawal from the Syndicate Account and distribution, and (ii) the Agent shall distribute the money withdrawn from the Syndicate Account other than the money subject to such
notice to all Lenders other than the Lenders subject to such notice. If the creditor obtaining an order for provisional attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or
attachment (sashiosae), the Borrower, the Lender, or any other third party suffers any Damages as a result of the distribution and the withdrawal from the Syndicate Account prior to the distribution by the Agent pursuant to the proviso to
(i) of this Item, the Agent shall not be liable in relation thereto, and the relevant Lender with respect to such loan claim shall deal with the matter at its own cost and liability. The relevant Lender with respect to such loan claim shall
compensate the Agent for any Damages, if any, incurred by the Agent due to such withdrawal and distribution. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 26 

	 	(b)	 If the assignor and the assignee, in their joint names, or the Borrower individually, notifies the Agent of
an assignment of the loan claim pursuant to this Agreement: 

 In this case, the Agent shall, after
receiving either of such notice(s), immediately commence all administrative procedures necessary in order to treat such assignee as the creditor of such loan claim, and the Agent shall not be held liable, insofar as the Agent treats the previous
Lender as the party in interest until the Agent notifies the Borrower, the assignor, and the assignee that such procedures have been completed. If the assignee or any other third party suffers any Damages due to such treatment by the Agent, the
Agent shall not be liable in relation thereto, and the assignor of such loan claim shall deal with the matter at their own cost and liability. The assignor of such loan claim shall compensate the Agent for any Damages, if any, incurred by the Agent
arising out of this Item. 
  

	(3)	 A distribution by the Agent to the Lenders shall be made in the order of Items (iii) to (viii) of the
Order of Allocation. If a Deficient Item arises in the amounts to be distributed, the allocation and distribution with respect to such Deficient Item shall be made in accordance with the Deficient Item Allocation Method. 

 

	(4)	 Notwithstanding the provisions regarding the Order of Allocation and the Deficient Item Allocation Method,
if, after the occurrence of a Subordination Event, the conditions precedent regarding such Subordination Event was fulfilled and the obligations hereunder were paid, the Agent shall distribute the amount remaining after deducting the amounts
described under Items (i) and (ii) of the Order of Allocation from the amount paid by the Borrower, in proportion to the amount of the obligations that the Borrower owes to the Lenders under this Agreement, and the Agent shall bear no liability
to the extent that the Agent makes such distribution. In this case, the allocation shall be made in the order and the method that the Lender deems appropriate, and the Lender shall promptly report to the Agent contents of allocation.

  

	(5)	 If the remittance of money by the Borrower to the Syndicate Account is made later than the Due Time, the
Agent shall be under no obligation to make the distribution under Paragraph (1) of this Article on the same date. In such case, the Agent shall make such distribution immediately after receiving remittance from the Borrower, and the Borrower
shall bear any Damages, if any, incurred by the Lenders or the Agent as a result thereof. 

  

	(6)	 Upon request from the Agent, and if such request is based on a reasonable cause, the Lenders receiving such
request shall immediately notify the Agent of the amount (including specifics) of the claims they hold against the Borrower under this Agreement. In this case, the obligation of the Agent to make a distribution under Paragraph (1) of this
Article shall arise at the time all such notices reach the Agent. In the case where a Lender delays such notice without reasonable cause, such Lender shall bear all Damages, if any, incurred by the Lenders or the Agent due to such delay.

  

	(7)	 The Agent may make a distribution to the Lenders by Temporary Advance. If the Temporary Advance is not
cleared by the Due Time, the Lenders who received the distribution pursuant to this Paragraph shall, immediately upon the Agent’s request, reimburse to the Agent the amount of such Temporary Advance that it received. The Lenders shall,
immediately upon the Agent’s request, pay to the Agent any Temporary Advance Costs required in making such Temporary Advance, in proportion to the amount of Temporary Advance that it received. If a Lender pays such Temporary Advance Costs to
the Agent and if the relevant Temporary Advance is made based on the Borrower’s request, the Borrower shall compensate such Lender for such Temporary Advance Costs. 

 

	Article 9-3       (Rights	 and Obligations of the Agent) 

 

	(1)	 The Agent shall, on behalf of all Lenders, perform the duties, and exercise the rights, set forth in each
provision of this Agreement entrusted by all Lenders to the Agent (referred to in this Paragraph as the 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 27 

	 	 
“Agency Services”), and shall exercise such rights as, in the Agent’s opinion, are ordinarily necessary or appropriate upon performing the Agency Services. The Agent shall not be
liable for any obligation other than those expressly specified by the provisions of this Agreement, nor be liable for any non-performance of obligations by any of the Lenders under this Agreement. The Agent
shall be an agent of the Lenders and, unless otherwise provided, shall not be an agent of the Borrower. The Borrower shall pay a fee separately agreed with the Agent (the “Agency Fee”) in consideration of the Agent undertaking the Agency
Services under this Agreement. 

  

	(2)	 The Agent may rely upon any communication, instrument and document that has been delivered by an appropriate
person with the signature or the name and seal of such appropriate persons and believed by the Agent to be true and correct, and may act in reliance upon any written opinion or explanatory letter of experts reasonably appointed by the Agent within
the necessary extent in relation to this Agreement. 

  

	(3)	 The Agent shall perform its duties and exercise its authorities provided for in this Agreement with the due
care of a good manager. 

  

	(4)	 Neither the Agent nor any of its directors, employees or agents shall be liable to the Lenders for any
actions or omissions pursuant to, or in connection with, this Agreement, unless there is a willful misconduct or gross negligence on its or their part. The Lenders other than the Agent shall jointly and severally indemnify the Agent for any and all
liabilities and Damages incurred by the Agent in the course of the performance of its duties under this Agreement, to the extent not reimbursed by the Borrower, and only for the amount outstanding after deducting the portion for which the Agent
should contribute, calculated pursuant to the Participation Ratio of the Lender acting as the Agent (provided, however, that with respect to any Lender whose Lending Obligation has been cancelled but has Outstanding Individual Loan Amounts, for
purposes of calculating its Participation Ratio for such indemnity, its Commitment Amount shall be deemed to be equivalent to the principal portion of the Outstanding Individual Loan Amount for such Lender. In addition, where the Lending Obligation
has been cancelled for all Lenders, prior to the repayment of all amounts due and payable under this Agreement the Participation Ratio for each Lender for such indemnity shall be equivalent to its pro rata share of the Total Loan Balance with
respect to the principal portion of the Outstanding Individual Loan Amount with respect to such Lender, and if any of the Lenders cannot perform the indemnity for which it is liable, the Participation Ratio of the Lender acting as the Agent shall be
figured by dividing the Participation Ratio of the Lender acting as the Agent by the aggregate of the Participation Ratios of the Lenders excluding such non-indemnifying Lender). 

 

	(5)	 The Agent shall not guarantee the validity of this Agreement, or any matters represented in this Agreement,
and the Lenders shall enter into, and conduct transactions contemplated in, this Agreement at their sole discretion by conducting investigations as to the creditworthiness of the Borrower and other necessary matters on the basis of the documents,
information and other data as they deem appropriate. 

  

	(6)	 In the case where the Agent is also acting as a Lender, the Agent shall have the same rights and obligations
as other Lenders under this Agreement, irrespective of the Agent’s obligations under this Agreement. The Agent may engage in commonly accepted banking transactions with the Borrower outside the scope of this Agreement. The Agent shall not be
required to disclose to other Lenders any information relating to the Borrower obtained through transactions outside the scope of this Agreement, nor shall the Agent be required to distribute to other Lenders any amount it has received from the
Borrower through transactions with the Borrower outside the scope of this Agreement (any information that the Agent has received from the Borrower shall be, unless expressly identified as being made pursuant to this Agreement, deemed obtained in
relation to the transactions outside the scope of this Agreement.) 

  

	(7)	 In the case where the Agent is also acting as a Lender, in the calculation of amounts to be distributed to
each Lender pursuant to the provisions of this Agreement, the amounts to be distributed to each Lender other than the Agent shall be determined by discarding any amount less than one Yen (¥1), and the

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 28 

	 	 
amount remaining after deduction of the amounts distributed to other Lenders from the aggregate distribution amounts shall be the amounts to be distributed to the Lender who is also acting as the
Agent. 

  

	(8)	 Except for the preceding Paragraph, the handling of fractions less than one Yen (¥1) that are
required under this Agreement shall be made in the manner the Agent deems appropriate. 

  

	(9)	 In the case where the Agent receives any notice from the Borrower which is required to be given to the
Lenders in accordance with this Agreement, the Agent shall immediately inform all Lenders of the details of such notice, or if the Agent receives any notice from a Lender which is required to be given to the Borrower or other Lenders in accordance
with this Agreement, the Agent shall immediately inform the Borrower or all Lenders other than the Lender who gave such notice of the details of such notice. The Agent shall make available for review by the Lenders during the ordinary business hours
any documents obtained from the Borrower and kept by the Agent. 

 Article
9-4        (Resignation and Dismissal of the Agent) 
  

	(1)	 The procedures for resignation of the Agent shall be as follows: 

 

	 	(i)	 The Agent may resign from its position by giving a written notice to all Lenders and the Borrower; provided,
however, that such resignation shall not become effective until a successor Agent is appointed and accepts such appointment. 

  

	 	(ii)	 In the case where the notice is given pursuant to the preceding Item, the Majority Lenders shall appoint a
successor Agent upon obtaining the consent of the Borrower. 

  

	 	(iii)	 In the case where a successor Agent is not appointed by the Majority Lenders within thirty (30) days
from the date the notice under Item (i) above is given, or if the entity appointed by the Majority Lenders does not agree to assume the position, the Agent in office at that time shall, upon obtaining consent from the Borrower, appoint a
successor Agent in lieu of the Majority Lenders. 

  

	(2)	 The procedures for dismissal of the Agent shall be as follows: 

 

	 	(i)	 The Majority Lenders may dismiss the Agent by giving a written notice thereof to each of the other Lenders,
the Borrower and the Agent; provided, however, that such dismissal shall not become effective until a successor Agent is appointed and accepts such appointment. 

 

	 	(ii)	 In the case where the notice is given pursuant to the preceding Item, the Majority Lenders shall appoint a
successor Agent upon obtaining the consent from the Borrower. 

  

	(3)	 In the case where the entity appointed as the successor Agent under the preceding two (2) Paragraphs
accepts the appointment, the former Agent shall deliver to the successor Agent all documents and materials it retained as the Agent under this Agreement, and shall give all the cooperation necessary for the successor Agent to perform its duties as
the Agent set forth under this Agreement. 

  

	(4)	 The successor Agent shall succeed to the rights and obligations of the former Agent under this Agreement,
and the former Agent shall, at the time of assumption of office by the successor Agent, be released from all of its obligations as the Agent; provided, however, that the provisions of this Agreement relevant to any actions (including omissions)
conducted by the former Agent during the period it was in office shall remain effective. 

  

	(5)	 In the case where any of the following events occurs, the Agent may resign with the agreement of the
Majority Lenders, notwithstanding the preceding four (4) Paragraphs. In the case where the Agent resigns under this Paragraph, the resigning Agent shall promptly notify the Borrower and the Lenders, other than the Lenders who made such
agreement, of such resignation and the Borrower shall not make any objection to such resignation. Further, the Majority Lenders may appoint a successor Agent by mutual 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 29 

	 	 
agreement, and the Borrower shall not make any objection to such appointment (and if the entity appointed as the successor Agent accepts such appointment, the provisions of the preceding two
(2) Paragraphs shall apply). Even in the case where the Agent resigns under this Paragraph, the Borrower shall not be exempted from payment of the accrued Agency Fees. 

 

	 	(i)	 In the case where there is a petition (including a similar petition filed outside Japan) for bankruptcy
(hasan), commencement of rehabilitation procedures (saiseitetuzuki-kaishi), commencement of reorganization procedures (koseitetuzuki-kaishi),
commencement of special liquidation (tokubetsu-seisan), or commencement of any other similar legal rearrangement procedure is filed against the Borrower; 

 

	 	(ii)	 In the case where the Borrower fails to pay the Agency Fee, and if, although the Agent requests the Borrower
to pay the Agency Fee by setting a reasonable period of time, the Borrower fails to pay the Agency Fee within such period. 

  

	(6)	 In the case where a successor Agent is not promptly appointed by agreement of the Majority Lenders when the
Agent resigns under the preceding Paragraph, the Majority Lenders and the Agent (provided that, when the Agent has already resigned, the Majority Lenders) shall, to the extent reasonably required in order to make it possible for each Lender to act
for itself, make necessary or appropriate changes to this Agreement, including a possible deletion of or amendment to provisions relating to the Agent in this Agreement. 

Article 9-5        (Decisions of Majority Lenders) 

 

	(1)	 The procedures for seeking decisions of the Majority Lenders shall be as follows: 

 

	 	(i)	 When an event requiring the instruction of the Majority Lenders under this Agreement occurs, a Lender may
give a notice to the Agent to request a decision of the Majority Lenders. 

  

	 	(ii)	 The Agent shall, upon receipt of a notice under the preceding Item, immediately give to all Lenders a notice
that it will seek a decision of the Majority Lenders. 

  

	 	(iii)	 Each Lender shall, upon receipt of the notice under the preceding Item, make its decision on the relevant
event and inform the Agent of such decision within a reasonable period designated by the Agent (in principle, by five (5) Business Days after the receipt of the notice under the preceding Item). 

 

	 	(iv)	 If a decision of the Majority Lenders is made pursuant to the preceding three Items, the Agent shall
immediately notify the Borrower and all Lenders of such decision as the instruction by the Majority Lenders. 

  

	(2)	 In addition to the preceding Paragraph, in the case where the Agent itself decides that an event which
requires a decision of the Majority Lenders has occurred, the Agent may give all Lenders a notice to seek such decision. The procedures after giving such notice shall follow the provisions of Items (iii) and (iv) of the preceding Paragraph.

 Article 9-6        (Collection from a Third Party)

 Without the prior written consent of the Agent and all of the Lenders, no third party other than the Borrower shall be
entitled to repay the obligations of the Borrower under this Agreement. 
 Article 9-7        (Assignment of
Position) 
  

	(1)	 The Borrower shall not assign to any third party its position, rights or obligations under this Agreement
without the prior written consent of all Lenders and the Agent. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 30 

	(2)	 Prior to the end of the Commitment Period, a Lender may assign to any third party its position under this
Agreement, and all or any part of its rights and obligations associated therewith, only when the Borrower and the Agent give prior written consent thereto and all requirements described in each Item below are satisfied (provided, however, that this
provision shall not apply to the assignment of loan claims otherwise provided in this Agreement. Hereafter, the Lender making the relevant assignment shall be referred to as the “Position Assignor” and the Lender accepting the relevant
assignment shall be referred to as the “Position Assignee”.) Upon the relevant assignment taking effect, the Agent shall provide notice thereof to all of the Lenders. In the case where the Agent incurs any Damages in relation to the
perfection relating to a consent under Item (i) below, the Position Assignor and the Position Assignee shall bear them. 

  

	 	(i)	 In the case where the Position Assignor owns loan claims, the consent of the Borrower hereunder shall be
deemed to include consent to the assignment of such loan claims, and, promptly following the date of assignment, certification of the date thereof shall be obtained. 

 

	 	(ii)	 With respect to a partial assignment of a position under this Agreement and the rights and obligations
associated therewith, following the date of assignment the Position Assignor and the Position Assignee shall both become Lenders under the Agreement and bound to the terms and conditions thereof, and the Commitment Amount of the Position Assignor
following the assignment (hereafter for the purposes of this provision, the “Pre-Assignment Commitment Amount”) shall only be reduced by such amount as separately agreed between the Position Assignor
and Position Assignee (hereafter for the purposes of this provision, the “Reduction Amount”), and a Commitment Amount in the same amount as the Reduction Amount (provided, however, that if the Position Assignee is already an existing
Lender prior to the relevant assignment, the Position Assignee’s Commitment Amount shall be the amount of its Commitment Amount prior to the assignment plus the Reduction Amount), and the principal, Default Interest and any other amount for
which the Borrower bears a payment obligation relating to the assigned loan claims prior to the assignment, pro rata to the percentage derived by dividing the Reduction Amount by the Pre-Assignment Commitment
Amount (hereafter for the purposes of this provision, the “Reduction Ratio”) and the portion of loan claims derived by application of the Reduction Ratio shall be assigned to the Position Assignee. 

 

	 	(iii)	 The Position Assignee shall be a qualified institutional investor as set forth in Article 2,
Paragraph 3, Item 1 of the Financial Instruments and Exchange Act and Article 10, Paragraph 1 of the Cabinet Office Ordinance on Definitions under Article 2 of the Financial Instruments and Exchange Act and is not a money lending
business operator as set forth in the Money Lending Business Act. In the case of any acceleration with respect to the Borrower, the Position Assignee shall also be a legal entity resident in Japan. 

 

	 	(iv)	 With respect to a partial assignment of a position under this Agreement and the rights and obligations
associated therewith, the (i) Reduction Amount and (ii) the amount equivalent to the Pre-Assignment Commitment Amount minus the Reduction Amount will each be no less than one hundred million Yen
(¥100,000,000). 

  

	 	(v)	 No withholding tax or other taxes arise from such assignment, and there is no increase in the amount of the
Borrower interest expense, or any other payment amount, payable to the Position Assignee. 

  

	(3)	 All expenses arising from an assignment under the preceding Paragraph (2) shall be borne by the
Position Assignor and/or Position Assignee. The Increased Costs provision of this Agreement shall apply with respect to any Increased Costs incurred after the assignment. The Position Assignor shall, promptly upon such assignment, pay to the Agent
five hundred thousand Yen (¥500,000) for each Position Assignee and for each Individual Loan, together with the consumption tax thereon, in consideration of the procedures, etc., for such assignment. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 31 

 Article 9-8        (Assignment of Loan Claim) 

 

	(1)	 After the end of the Commitment Period, unless otherwise provided in this Agreement, a Lender may assign its
loan claims when all requirements described in each Item below are satisfied (with respect to assignment of loan claims by a Lender during the Commitment Period, the provisions of Article 9-7 shall apply). The
assignor and the assignee shall, promptly after the date of assignment, perfect the assignment against the third parties and the obligor. In this case, the assignor and assignee, in their joint names, and the Borrower individually, shall promptly
notify the Agent of the fact that such assignment was made, and in the case where the Agent incurs any Damages in relation to the perfection, the assignor and the assignee shall bear them. In the case where an assignment of loan claims is made
pursuant to this Paragraph, any and all rights relating to the assigned loan claims among the rights of the assignor under this Agreement shall transfer to the assignee, and any and all obligations relating to the assigned loan claims among the
obligations of the assignor under this Agreement shall be borne by such assignee. The Borrower consents in advance to the transfer of the rights to, and bearing of the obligations by, the assignee. In this case, the assignee shall be treated as a
Lender in connection with the application of the provisions of this Agreement relating to the loan claims so assigned. 

  

	 	(i)	 The assignee shall be bound by the provisions in connection with the loan claims under this Agreement
relating to the loan claims so assigned (an assignee under this Paragraph shall not bear Loan Obligations). 

  

	 	(ii)	 The assignee is a qualified institutional investor as set forth in Article 2, Paragraph 3, Item 1 of the
Financial Instruments and Exchange Act and Article 10, Paragraph 1 of the Cabinet Office Ordinance on Definitions under Article 2 of the Financial Instruments and Exchange Act, and a legal entity resident in Japan. 

 

	 	(iii)	 In the case where the assigned loan claim will be divided, the amount after division will not be less than
one hundred million Yen (¥100,000,000). 

  

	 	(iv)	 No withholding tax or other taxes arise from such assignment, and there is no increase in the amount of the
Borrower interest expense, or any other payment amount, payable to the assignee. 

  

	(3)	 All expenses arising from the assignment under the preceding Paragraph shall be borne by the assignor and/or
assignee. The Increased Costs provision of this Agreement shall apply with respect to any Increased Costs incurred after the assignment. The assignor shall, promptly upon such assignment, pay to the Agent five hundred thousand Yen (¥500,000) for
each assignee and for each Individual Loan, together with the consumption tax thereon, in consideration of the procedures, etc., for such assignment. 

Article 9-9        (Miscellaneous) 
  

	(1)	 Disclosure of Information 

The Borrower shall not object to the disclosure of the information in each of the following Items. In this Paragraph, the
information with regard to this Agreement shall mean any information regarding the credit of the Borrower that has been obtained in connection with this Agreement, any information regarding the contents of this Agreement and other information
incidental thereto, and any information regarding the contents of the loan claims subject to the transaction and other information incidental thereto, and for the purpose of Item (ii) below, shall not include any information regarding the
credit of the Borrower that has been obtained in connection with any agreement other than this Agreement: 
  

	 	(i)	 In the case where a notice of non-lending has been given by a Non-lending Lender, or if any of the Subordination Events has occurred, or if a decision of the Majority Lenders has been required, the Agent and the Lenders may disclose with each other any information with regard
to the Borrower and transactions with the Borrower, which either party has obtained through this Agreement or an agreement other than this Agreement, to the extent reasonably required; 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 32 

	 	(ii)	 Upon the assignment of loan claims, the execution of a guaranty or debt assumption (including physical
guaranty) without delegation from the Borrower for an obligation borne by the Borrower under this Agreement, or the sale of a loan participation of a loan claim under this Agreement, a Lender may disclose any information with regard to this
Agreement to an assignee (including a Position Assignee), the guarantor, successor to debt, purchaser of a loan participation, and any person considering such assignment, guaranty, debt assumption, or purchase of a loan participation (including an
intermediary of such transaction), on the condition that the Lender imposes the confidentiality obligations on the other party. 

  

	 	(iii)	 A Lender may disclose information with regard to this Agreement, to the extent reasonably required, upon an
order, direction, request, or the like made pursuant to the Laws and Ordinances or by administrative agencies, judicial agencies or other relevant authorities in Japan and foreign countries, central banks, or self-regulatory agencies, or to an
attorney, judicial scrivener, certified public accountant, accounting firm, tax accountant, rating agency, or any other expert who needs to receive the disclosure of the information in relation to his/her works. A Lender may also disclose the
information with regard to this Agreement to its parent company, subsidiary or affiliate to the extent necessary and appropriate for internal control purposes. 

 

	(2)	 Default Interest 

In the case where the Borrower delays the performance of an obligation under this Agreement to a Lender or the Agent, the
Borrower shall, immediately upon the request of the Agent, for the period from (and including) the day that the delinquent obligation (referred to in this Paragraph as the “Delinquent Obligation”) should have been performed (referred to in
this Paragraph as the “Due Date”) to (and including) the day on which the Delinquent Obligation is performed in full, pay default interest on the amount of the Delinquent Obligation at the rate of fourteen percent (14%) per annum, in
accordance with the provisions of this Agreement. The calculation method for such default interest shall be on a per diem basis, inclusive of the first day and exclusive of the last day, wherein divisions shall be done at the end of the calculation,
and fractions less than one Yen (¥1) shall be rounded down; provided, however, that the Borrower shall not be required to pay default interest if (i) the delay of performance is caused by a clerical or technical error and (ii) the
Delinquent Obligation is performed in full within one (1) Business Day after the Due Date. 
  

	(3)	 Expenses and Taxes and Public Charges 

 

	 	(i)	 All reasonable expenses (including reasonable attorneys’ fees) arising from the preparation of this
Agreement and documents relating hereto and their amendment and revision, and all reasonable expenses (including reasonable attorneys fees) of the Lenders and the Agent incurred to ensure and enforce rights under this Agreement or in performing
obligations, shall be borne, within reasonable limits, by the Borrower, as long as not in violation of Laws and Ordinances, and in the case where the Lenders or the Agent bear any such on behalf of the Borrower, the Borrower shall, immediately upon
the request of the Agent, pay such amount in accordance with the provisions of this Agreement. 

  

	 	(ii)	 Revenue stamp tax and other similar Taxes and Public Charges arising in connection with the preparation,
amendment, implementation, etc., of this Agreement and documents relating hereto shall all be borne by the Borrower, and in the case where the Lenders or the Agent bear any such on behalf of the Borrower, the Borrower shall, immediately upon the
request of the Agent, pay such amount in accordance with the provisions of this Agreement. 

  

	 	(iii)	 Any Lender that does not have its head office in Japan shall, promptly after the date of execution of this
Agreement, obtain the certificate of exemption from withholding tax for a foreign entity or non-resident from the competent tax authority, and submit a copy of such certificate to the Borrower through the
Agent. Any Lender for which the expiration date of such certificate of tax 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 33 

	 	 
exemption will fall during the period from the date of execution of this Agreement until its termination, and to the date of the receipt of repayment in regard to all Outstanding Individual Loan
Amount, shall in the same way submit a valid certificate of exemption promptly after the expiration of such period. In the event that the Agent incurs any Damages as a result of a certain Lender not fulfilling the obligations under this Item, such
Lender shall bear such Damages. 

  

	 	(iv)	 The provisions of the immediately preceding Item shall apply to any Position Assignee and assignee in the
case of an assignment of a position or loan claims under this Agreement. 

  

	(4)	 Amendments 

This Agreement shall not be amended except with the written agreement of the Borrower, all Lenders and the Agent; provided,
however, that the changes set forth in Article 9-4, Paragraph (6) shall be subject to the procedures set forth in such Paragraph. 
  

	(5)	 Burden of Risk, Exemptions, and Compensation and Indemnity 

 

	 	(i)	 If any documents furnished by the Borrower to the Agent or a Lender are lost, destroyed or damaged by an
accident, natural disaster, or other unavoidable cause, the Borrower shall, upon consultation with the Agent, perform its obligations under this Agreement based on the books, vouchers, and other records (limited to those of a reasonable nature) of
the Agent or the relevant Lender. The Borrower shall, upon request of the Agent or a Lender through the Agent, forthwith prepare substitute documents and furnish them to the Agent or the relevant Lender through the Agent. 

 

	 	(ii)	 If a Lender or the Agent performs a transaction after comparing, with due care, the seal of the
representative and the agent of the Borrower used for the transaction in relation to this Agreement with the seal reported by the Borrower in advance, and finding no discrepancy, the Borrower shall bear any Damages, if any, arising as a result of
any forgery, alteration, theft, or other accident to such seal. 

  

	 	(iii)	 The Borrower shall bear any Damages arising with respect to a Lender or the Agent as a result of a breach of
this Agreement by the Borrower. 

  

	(6)	 Severability 

Even if any part of the provisions of this Agreement becomes null, illegal, or unenforceable, the validity, legality and
enforceability of all other provisions shall in no way be prejudiced or affected. 
  

	(7)	 Calculations 

Unless otherwise expressly provided, in any calculation under this Agreement, the actual number of days of a period shall be
counted inclusive of the first and the last day of the period, the calculation shall be made on a per diem basis, the division shall be done at the end of the calculation, and fractions less than one Yen (¥1) shall be rounded down. 

 

	(8)	 Preparation of Notarial Deed 

The Borrower shall, at any time upon the request of the Agent or Majority Lenders, take the necessary procedures to entrust a
notary public to execute a notarial deed acknowledging the obligations under this Agreement and agreeing to compulsory execution with regard thereto. 
  

	(9)	 Continuation of Rights 

The fact of non-exercise of all or any rights under this Agreement by the Agent and the
Lenders or a delay in the time of such exercise, shall, in no event, be interpreted as an abandonment of such right by the Agent and the Lenders or a waiver or reduction of the obligations of the Borrower, and shall not have any effect on the rights
or obligations of the Agent and the Lenders. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 34 

	(10)	 Non-applicability of Agreement on Banking Transactions

 The agreement on banking transactions
(ginko-torihiki-yakujo-sho) or other similar agreement (if any) separately submitted to a Lender by the Borrower or entered into between the Borrower and a Lender shall not apply to this Agreement and
the transactions contemplated in this Agreement. 
  

	(11)	 Governing Law and Jurisdiction 

This Agreement shall be governed by the laws of Japan, and the Tokyo District Court shall have agreed non-exclusive jurisdiction over any disputes arising in connection with this Agreement. 
  

	(12)	 Language 

This Agreement shall be prepared in the Japanese language and the Japanese language version shall be the original. 

 

	(13)	 Matters for Discussion 

Any matters not provided for in this Agreement, or in the case of any doubt among the parties with respect to the
interpretation of this Agreement, the Borrower and the Lenders shall consult through the Agent and shall determine the response therefor. 

In witness of the above, this Agreement has been prepared in one (1) original, and upon affixing names and seals of the representatives
or agents of the Borrower, the Agent shall keep it for itself, the Lenders and the Borrower. Each of the Borrower and the Lenders shall receive a copy with certification of custody of the original. 

October 26, 2018 
 [revenue stamp six
hundred thousand Yen (¥600,000)] 
  

			
		  	 Borrower:  TAKEDA PHARMACEUTICAL COMPANY
LIMITED

		  	
		  	
		  	 _____________________________ [Seal]

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 35 

							
		 	 Agent: Sumitomo Mitsui Banking Corporation
	  	
				
		 	
                       
                                      [Seal]
	  		  	

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 36 

							
		  	 Lender: Sumitomo Mitsui Banking Corporation
	 	
				
		  	
                       
                                      [Seal]
	 		 	

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 37 

							
		 	 Lender: MUFG Bank, Ltd.
	  	
				
		 	
                       
                                      [Seal]
	  		  	

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 38 

							
		 	 Lender: Mizuho Bank, Ltd.
	  	
				
		 	
                       
                                      [Seal]
	  		  	

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 39 

							
		 	 Lender: The Norinchukin Bank
	  	
				
		 	
                       
                                      [Seal]
	  		  	

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 40 

							
		 	 Lender: Sumitomo Mitsui Trust Bank, Limited
	  	
				
		 	
                       
                                      [Seal]
	  		  	

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 41 

 Attachment 1 

CONTACT DETAILS OF PARTIES 

INITIAL COMMITMENT AMOUNTS OF LENDERS 

AND 
 METHOD OF NOTICES

  

	1.	 Borrower 

  

					
	 Borrower and Department

 
	 	 Address

 
	 	
Tel/Fax
  

	 TAKEDA
PHARMACEUTICAL COMPANY LIMITED
  
 Finance/Financial Management/Financial Planning
Dept.
  
  
	 	2-2-1, Nihonbashi Honcho, Chuo-ku, Tokyo 103-8668	 	
03-3279-2284
 03-3278-2198

  

	2.	 Agent 

  

					
	 Agent
and Department
  
	 	 Address

 
	 	
Tel/Fax
  

	 Sumitomo Mitsui Banking Corporation

 
 Inter-Market Settlement Department, Syndication Group

 
  
	 	13-6, Nihombashi Kodenma-cho, Chuo-ku, Tokyo 103-0001	 	
03-5640-6688
 03-5695-5214

  

	3.	 Lenders 

  

							
	 Lender and

Department
	 	 Initial

Commitment
 Amount

 
	 	Address	 	Tel/Fax
	 Sumitomo Mitsui
Banking Corporation, Head Office Department 8
  
	 	150,000,000,000 Yen	 	1-1-2, Marunouchi, Chiyoda-ku, Tokyo 100-0005	 	
03-4333-3801
 03-4333-9667

	 MUFG Bank, Ltd.,
Corporate Banking Group No. 2, Corporate Banking Division No. 5
  
	 	150,000,000,000 Yen	 	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8388	 	
03-3240-8299
 03-3240-2360

	 Mizuho Bank, Ltd.,
Corporate Banking Department No. 3
  
	 	100,000,000,000 Yen	 	
1-5-5. Otemachi, Chiyoda-ku, Tokyo 100-8176
  
	 	
03-6734-5754
 03-3214-0628

	 The Norinchukin Bank
Food & Agriculture Banking Business, Corporate Business Div. I
  
	 	50,000,000,000 Yen	 	1-13-2, Yurakucho, Chiyoda-ku, Tokyo 100-8420	 	
050-3853-2163
 03-3218-5115

	 Sumitomo Mitsui
Trust Bank, Limited
  
 Head Office Corporate Division 3

 
	 	50,000,000,000 Yen	 	1-4-1, Marunouchi, Chiyoda-ku, Tokyo 100-8233	 	
03-6256-5705
 03-6256-5709

	 Total

    
	 	 500,000,000,000 Yen

    
	 		 	 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 42 

	4.	 Methods of Notice 

 

	(1)	 Notices under this Agreement shall all be in writing, shall each clearly state that it is being made under
this Agreement, and shall be made by one of the methods (i) to (iii) set out below to the address reported under this Agreement by the intended recipient. Each party to this Agreement shall be able to change its address by a notice of change of
address to the Agent. 

  

	 	(i)	 direct hand delivery 

 

	 	(ii)	 registered mail or courier service 

 

	 	(iii)	 fax transmission (provided that, in the case of the method in Item (iii), for the notices listed below, the
original shall be sent afterwards to the counterparty by either of the methods (i) or (ii)) 

  

	 	(a)	 Receipt 

  

	 	(b)	 Notice to be given by the Borrower to the Agent in regard to receipt of service of an order for provisional
attachment (kari-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) of a loan claim. 

 

	 	(c)	 Report of seal or signature on the stipulated form of the Agent and report of change of the Items reported
to the Agent. 

  

	 	(d)	 Any other notice for which the recipient requests the original on a reasonable ground 

 

	(2)	 A notice under the preceding Item shall be effective, in the case of fax transmission, upon receipt, and for
other methods, at the time of actual receipt. 

  

	5.	 Change to Reported Matters 

 

	(1)	 In the case of a change in the trade name, representative, agent, signature, seal, location, or other matter
reported to the Agent, of a Lender and the Borrower, a written notice shall be promptly given to the Agent. 

  

	(2)	 In the case where a notice under this Agreement is delayed or does not arrive as a result of a failure to
report under the preceding Item, it shall be deemed to have arrived at the time it could be expected to have arrived. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 43 

 Attachment 2 

PRINCIPAL PAYMENT SCHEDULE, INTEREST PAYMENT DATE SCHEDULE 

1. Principal Payment Schedule for Individual Loans 
  

			
	Principal Payment Date	 	Principal Payment Amount
	 60th anniversary of the Drawdown Date (Maturity Date)
  
	 	Initial loan drawdown amount(*)

 (*) The initial loan drawdown amount is the total amount
of the Individual Loan disbursed by each of the Lenders under the Drawdown Notice relating to such loans. 
 The allocation of payment
amounts to each Lender on each Principal Payment Date is as set out below. 
  

					
	 	 	Each Lender excluding Sumitomo Mitsui Banking Corporation	 	Sumitomo Mitsui Banking Corporation
	
Maturity Date
	 	 For each Lender, the entire principal
portion of its Outstanding Individual Loan Amount
     

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 44 

 Attachment 3 

[DATE] 
  

	To:	 Sumitomo Mitsui Banking Corporation 

Inter-Market Settlement Department 

[ADDRESS] 
 [NAME] 

[Registered Seal] 
 DRAWDOWN
NOTICE 
 We refer to the Subordinated Syndicated Loan Agreement dated October 26, 2018 entered into by and between the Borrower
and, inter alia, Sumitomo Mitsui Banking Corporation as the Agent (hereafter the “Agreement”. Defined terms used herein but not otherwise defined shall have the meanings ascribed to them in the Agreement.) for the initial Total
Commitment Amount of ¥500,000,000,000 as of the execution date of the Agreement, and subject to the terms and conditions thereof, we wish to borrow loans on the terms set out below. We confirm that as of the date of the Drawdown Notice and
presently on the Requested Drawdown Date set out below, each condition precedent prescribed in Article 2-2 of the Agreement relating to the Lending Obligations is fulfilled. 

 

			
	  Total Amount	  	
                       
                                         
     Yen

	  Requested   Drawdown Date	  	
[•] [•] , [•] (Day of the Week)

	  Purpose of Funds	  	
Repayment of the debt borrowed pursuant to the SSTL on the Requested Drawdown Date

 With respect to the Individual Loans that are disbursed in accordance with this Drawdown Notice, the Principal
Payment Date, Interest Payment Date and Principal Payment Amount and the handling of the Principal Payment Date and the Interest Payment Date in event such days falling on a bank holiday shall be as set out in the relevant provisions of the
Agreement. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 45 

 Attachment 4 

EXCLUSION OF ANTI-SOCIAL FORCES 
  

	(1)	 Members of Organized Crime Groups, etc. 

 

	 	(a)	 Organized Crime Groups (boryokudan) (an organization whose members (including members of member
organizations) are suspected of supporting collective or habitual violent and unlawful conduct; the same shall apply hereinafter); 

  

	 	(b)	 Organized Crime Group Members (boryokudan in) (constituent members of Organized Crime Groups; the
same shall apply hereinafter); 

  

	 	(c)	 Persons who ceased being Organized Crime Group Members less than five (5) years ago;

  

	 	(d)	 Quasi-members of Organized Crime Groups (boryokudan jun kosei in) (persons associated with Organized
Crime Groups, other than members of Organized Crime Groups, who are suspected of engaging in violent and unlawful conduct backed by threats from Organized Crime Groups or who support or cooperate with or participate in the maintenance or operation
of Organized Crime Groups through the provision of funds, weapons, etc. to Organized Crime Groups or Organized Crime Group Members; the same shall apply hereinafter); 

 

	 	(e)	 Corporations associated with Organized Crime Groups (corporations in which Organized Crime Group Members
actively participate, corporations that are managed by Quasi-members of Organized Crime Groups or former Organized Crime Group Members and actively support or cooperate with or participate in the maintenance or operation of Organized Crime Groups
through provision of funds, etc. or corporation that actively use Organized Crime Groups in their business or operations and support or cooperate with the maintenance or operation of Organized Crime Groups); 

 

	 	(f)	 Corporate racketeers (sokaiya), etc. (persons suspected of engaging in violent and unlawful conduct
to demand improper gains from corporations and threatening the peaceful lives of the public, such as corporate racketeers and corporate fraudsters); 

  

	 	(g)	 Social campaign racketeers (persons who profess or claim to be engaged in social campaigns or political
activities who are suspected of engaging in violent and unlawful conduct to demand improper gains and threatening the peaceful lives of the public); 

  

	 	(h)	 Special intelligence criminal organizations (organizations or persons other than those specified in
(a) through (g) above who engage primarily in organized unlawful conduct with using threats backed by relationships with Organized Crime Groups or capital ties to Organized Crime Groups); and 

 

	 	(i)	 Other persons comparable to those specified in (a) through (h) above. 

(The persons specified in (a) through (i) above are collectively referred to as “Organized Crime Group Members,
etc.”) 
  

	(2)	 Relationships with Organized Crime Group Members, etc. 

 

	 	(a)	 Relationships recognized as management controlled by Organized Crime Group Members, etc.;

  

	 	(b)	 Relationships recognized as Organized Crime Group Members, etc. substantially participating in management;

  

	 	(c)	 Relationships recognized as improperly using Organized Crime Group Members, etc. such as acting with the
intent to gain improper benefit for oneself, one’s company, or a third party or to harm a third party; 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 46 

	 	(d)	 Relationships recognized as ones providing funds, etc. or providing support to Organized Crime Group
Members, etc.; and 

  

	 	(e)	 Relationships that are socially condemned existing between officers or persons substantially participating
in management and Organized Crime Group Members, etc. 

  

	(3)	 Unlawful or Improper Conduct 

 

	 	(a)	 Making violent demands; 

 

	 	(b)	 Making improper demands that exceed legal responsibility; 

 

	 	(c)	 Engaging in threatening speech or conduct or using violent conduct in relation to transactions;

  

	 	(d)	 Spreading of rumors, using fraudulent means, or using threats to harm the reputation of the Lenders or the
Agent or to obstruct the business of the Lenders or the Agent; and 

  

	 	(e)	 Any other act similar to (a) through (d) above. 

  
 Subordinated Syndicated Loan Agreement
dated October 26, 2018, for Takeda Pharmaceutical Company Limited 
 47

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