Document:

EX-10.16

 Exhibit 10.16 

Exclusive Option Agreement 

This Exclusive Option Agreement (this “Agreement”) is executed by and among the following Parties as of April 19, 2018 in
Shanghai, the People’s Republic of China (“China” or the “PRC”): 
  

			
	Party A:	  	NIO Co., Ltd.

  

	Address:	      Room 115, No. 569 Anchi Road, Anting Town, Jiading District, Shanghai 

  

			
	Party B:	  	  Bin LI (a Chinese citizen with Identification No.: ********)

  

			
	Party C:	  	Beijing NIO Network Technology Co., Ltd.

  

	Address:	      Room 112, Beijing Yuxiangqing Hotel, No. 23 Courtyard, Babaozhuang, Haidian District, Beijing 

In this Agreement, each of Party A, Party B and Party C shall be hereinafter referred to as a “Party” individually, and as the
“Parties” collectively. 
 Whereas: 
  

	1.	Party B is the shareholder of Party C and as of the date hereof hold 80% of the equity interests of Party C, representing RMB 8,000,000in the registered capital of Party C. 

 

	2.	Party A and Party B executed a Loan Agreement (“Loan Agreement”) on April 19, 2018, according to which Party A agreed to provide to Party B a loan in the amount of RMB 8,000,000 for the purpose as
designated in the Loan Agreement. 

 Now therefore, upon mutual discussion and negotiation, the Parties have reached the
following agreement: 
  

	1.	Sale and Purchase of Equity Interest 

  

	 	1.1	Option Granted 

 Party B hereby irrevocably and unconditionally grants Party A an
irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s
sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other person
shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as
used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations. 

  
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	 	1.2	Steps for Exercise of the Equity Interest Purchase Option 

 Subject to the provisions of
the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the “Equity Interest Purchase Option Notice”), specifying:(a) Party A’s decision to exercise the
Equity Interest Purchase Option, and the name of the Designee(s) if any; (b) the portion of equity interests to be purchased by Party A or the Designee from Party B (the “Optioned Interests”); and (c) the date for purchasing the
Optioned Interests or the date for the transfer of the Optioned Interests. 
  

	 	1.3	Equity Interest Purchase Price 

 Optioned Interests 

The total price for the purchase by Party A of all Optioned Interests held by Party B upon exercise of the Equity Interest Purchase Option by
Party A shall equal to the amount of registered capital contributed by Party B in Party C for such Optioned Interests (or such price may be as set forth in the equity transfer agreement to be executed between Party A (or the Designee) and Party B
separately, provided that such price does not violate PRC laws and regulations and is acceptable to Party A); if Party A exercises the Equity Interest Purchase Option to purchase part of the Optioned Interests held by Party B in Party C, then the
purchase price shall be calculated on a pro rata basis. If at the time when Party A exercises the Equity Interest Purchase Option, the PRC laws impose mandatory requirements on the purchase price of such Optioned Interests, such that the minimum
price permitted under PRC law is higher than the aforementioned price, then the purchase price shall be such minimum price permitted by PRC law (collectively, the “Equity Interest Purchase Price”). 

 

	 	1.4	Transfer of Optioned Interests 

 For each exercise of the Equity Interest Purchase
Option: 
  

	 	1.4.1	Party B shall cause Party C to promptly convene a shareholders’ meeting, at which a resolution shall be adopted approving Party B’s transfer of the Optioned Interests to Party A and/or the Designee(s);

  

	 	1.4.2	Party B shall obtain written statements from the other shareholders of Party C giving consent to the transfer of the Optioned Interests by Party B to Party A and/or the Designee(s) and waiving any right of first refusal
with respect thereto; 

  

	 	1.4.3	Party B shall execute an equity interest transfer contract with respect to each transfer with Party A and/or each Designee (whichever is applicable), in accordance with the provisions of this Agreement and the Equity
Interest Purchase Option Notice regarding the Optioned Interests; 

  
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	 	1.4.4	Party B shall, within thirty (30) days after receipt of the Equity Interest Purchase Option Notice, execute all necessary contracts, agreements or documents with relevant parties, obtain all necessary government
approvals and permits, and complete all necessary registrations and filings, so as to transfer valid ownership of the Optioned Interests to Party A and/or the Designee(s), unencumbered by any security interests, and cause Party A and/or the
Designee(s) to become the registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement, “security interests” shall include securities, mortgages, third party’s rights or interests, any stock
options, acquisition right, right of first refusal, right to offset, ownership retention or other security arrangements, but shall be deemed to exclude any security interest created by this Agreement, Party B’s Equity Interest Pledge Agreement
and Party B’s Power of Attorney; “Party B’s Equity Interest Pledge Agreement” as used in this Agreement shall refer to the Interest Pledge Agreement executed by and among Party A, Party B and Party C on the date hereof and any
modification, amendment and restatement thereto.; “Party B’s Power of Attorney” as used in this Agreement shall refer to the Power of Attorney executed by Party B on the date hereof granting Party A with a power of attorney and any
modification, amendment and restatement thereto. 

  

	 	1.5	Payment 

 The Parties have agreed in the Loan Agreement that any proceeds obtained by
Party B through the transfer of its equity interests in Party C shall be used for repayment of the loan provided by Party A (and any interest thereon) in accordance with the Loan Agreement. Accordingly, upon exercise of the Equity Interest Purchase
Option, Party A may make the payment of the Equity Interest Purchase Price by way of offset of the outstanding debts owed by Party B to Party A (including without limitation the outstanding amount of the loan owed by Party B to Party A and any
interest thereon) (such debts, the “Offset Debts”), in which case Party A shall not be required to pay any additional purchase price to Party B, unless the Equity Interest Purchase Price set forth herein is required to be adjusted in
accordance with the PRC laws. If the PRC laws impose mandatory requirements on the Equity Interest Purchase Price agreed under this Agreement, such that the minimum Equity Interest Purchase Price permitted under PRC laws exceeds the price already
offset with the Offset Debts, Party B hereby waives its right to receive the amount of price that exceeds the amount offset with the Offset Debts. 
  

	2.	Covenants 

  

	 	2.1	Covenants regarding Party C 

 Party B (as a shareholder of Party C) and Party C hereby
covenant as follows: 

  
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	 	2.1.1	Without the prior written consent of Party A, they shall not in any manner supplement, change or amend the articles of association of Party C, increase or decrease its registered capital, or change its structure of
registered capital in other manners; 

  

	 	2.1.2	They shall maintain Party C’s corporate existence in accordance with good financial and business standards and practices, obtain and maintain all necessary government licenses and permits by prudently and
effectively operating its business and handling its affairs; 

  

	 	2.1.3	Without the prior written consent of Party A, they shall not at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner any material assets of Party C or legal or beneficial interest in
the material business or revenues of Party C, or allow the encumbrance thereon of any security interest; 

  

	 	2.1.4	Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer the existence of any debt, except for payables incurred in the ordinary course of business other than through loans;

  

	 	2.1.5	They shall always operate all of Party C’s businesses within the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that may adversely affect Party C’s
operating status and asset value; 

  

	 	2.1.6	Without the prior written consent of Party A, they shall not cause Party C to execute any major contract, except the contracts in the ordinary course of business; 

 

	 	2.1.7	Without the prior written consent of Party A, they shall not cause Party C to provide any person with any loan or credit; 

  

	 	2.1.8	They shall provide Party A with information on Party C’s business operations and financial condition at Party A’s request; 

 

	 	2.1.9	If requested by Party A, they shall procure and maintain insurance in respect of Party C’s assets and business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for
companies that operate similar businesses; 

  

	 	2.1.10	Without the prior written consent of Party A, they shall not cause or permit Party C to merge, consolidate with, acquire or invest in any person; 

 

	 	2.1.11	They shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s assets, business, revenue or equity interest;

  
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	 	2.1.12	To maintain the ownership by Party C of all of its assets, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate complaints, and raise
necessary or appropriate defenses against all claims; 

  

	 	2.1.13	Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner distribute dividends to its shareholders, provided that upon Party A’s written request, Party C shall immediately
distribute all distributable profits to its shareholders; 

  

	 	2.1.14	At the request of Party A, they shall appoint any person designated by Party A as the director or executive director of Party C. 

  

	 	2.1.15	Without Party A’s prior written consent, they shall not engage in any business in competition with Party A or its affiliates; and 

 

	 	2.1.16	Unless otherwise required by PRC law, Party C shall not be dissolved or liquated without prior written consent by Party A; 

  

	 	2.1.17	Once PRC laws permits foreign investors to invest in the principal business of Party C in China, with a controlling stake and/or in the form of wholly foreign-owned enterprises, and the competent government authorities
of China begin to approve such investments, upon Party’s exercise of the Equity Interest Purchase Option, Party B shall immediately transfer to Party A or the Designee(s) the equity interest in Party C held by Party B. 

 

	 	2.2	Covenants of Party B 

 Party B hereby covenants as follows: 

 

	 	2.2.1	Without the prior written consent of Party A, Party B shall not sell, transfer, mortgage or dispose of in any other manner any legal or beneficial interest in the equity interests in Party C held by Party B, or allow
the encumbrance thereon, except for the interest placed in accordance with Party B’s Equity Interest Pledge Agreement, Party B’s Power of Attorney and this Agreement; 

 

	 	2.2.2	Without the prior written consent of Party A, Party B shall ensure the shareholders’ meeting and/or the directors (or the executive director) of Party C not to approve any sale, transfer, mortgage or disposition in
any other manner of any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon of any security interest, except for the interest placed in accordance with Party B’s Equity Interest
Pledge Agreement, Party B’s Power of Attorney and this Agreement; 

  
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	 	2.2.3	Without the prior written consent of Party A, Party B shall cause the shareholders’ meeting or the directors (or the executive director) of Party C not to approve the merger or consolidation with any person, or the
acquisition of or investment in any person; 

  

	 	2.2.4	Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the equity interests in Party C held by Party B;

  

	 	2.2.5	Party B shall ensure the shareholders’ meeting or the directors (or the executive director) of Party C to vote in favor of the transfer of the Optioned Interests as set forth in this Agreement and to take any and
all other actions that may be requested by Party A; 

  

	 	2.2.6	To the extent necessary to maintain Party B’s ownership in Party C, Party B shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate
complaints, and raise necessary or appropriate defenses against all claims; 

  

	 	2.2.7	Party B shall appoint any designee of Party A as the director or the executive director of Party C, at the request of Party A; 

  

	 	2.2.8	Party B gives consent to the execution by each of the other shareholders of Party C with Party A and Party C of the exclusive option agreement, the equity interest pledge agreement and the power of attorney similar to
this Agreement, Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney, and undertakes not to take any action in conflict with such documents executed by such other shareholders; with respect to the transfer of equity
interest of Party C by any of the other shareholders of Party C to Party A and/or the Designee(s) pursuant to such shareholder’s exclusive option agreement, Party B hereby waives all of its right of first refusal (if any). 

 

	 	2.2.9	If Party received any profit distribution, interest, dividend or proceeds of liquidation from Party C, Party B shall promptly donate all such profit distribution, interest, dividend or proceeds of liquidation to Party A
or any other person designated by Party A in the manner permitted by the applicable PRC laws; and 

  

	 	2.2.10	Party B shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by and among Party B, Party C and Party A, perform the obligations hereunder and thereunder, and
refrain from any action/omission that may affect the effectiveness and enforceability thereof. To the extent that Party B has any remaining rights with respect to the equity interests subject to this Agreement hereunder or under the Party B’s
Equity Interest Pledge Agreement or under the Party B’s Power of Attorney, Party B shall not exercise such rights except in accordance with the written instructions of Party A. 

  
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	3.	Representations and Warranties 

 Party B and Party C hereby represent and warrant
to Party A, jointly and severally, as of the date of this Agreement and each date of the transfer of the Optioned Interests, that: 
  

	 	3.1	They have the power, capacity and authority to execute and deliver this Agreement and any equity interest transfer contracts to which they are parties concerning each transfer of the Optioned Interests as described
thereunder (each, a “Transfer Contract”), and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to enter into Transfer Contracts substantially consistent with the terms of this
Agreement upon Party A’s exercise of the Equity Interest Purchase Option. This Agreement and the Transfer Contracts to which they are parties constitute or will constitute their legal, valid and binding obligations and shall be enforceable
against them in accordance with the provisions thereof; 

  

	 	3.2	Party B and Party C have obtained any and all approvals and consents from the competent government authorities and third parties (if required) for the execution, delivery and performance of this Agreement.

  

	 	3.3	The execution and delivery of this Agreement or any Transfer Contracts and the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation of any applicable laws of China;
(ii) be inconsistent with the articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any contracts or instruments to which they are a party or which are binding on them, or constitute any
breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued effectiveness of any licenses or permits issued to either of them; or
(v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them; 

  

	 	3.4	Party B has the legal and complete title to the equity interests held by it in Party C. Except for Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney, Party B has not placed any
security interest or encumbrances on such equity interests; 

  

	 	3.5	Party C is a limited liability company duly organized and validly existing under the laws of the PRC. Party C has the legal and complete title to all of the assets used in connection with its business operation, and has
not placed any security interest on the aforementioned assets; 

  
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	 	3.6	Party C does not have any outstanding debts, except for (i) debt incurred during the ordinary course of business; and (ii) debts disclosed to Party A for which Party A’s written consent has been obtained.

  

	 	3.7	Party C has complied with all PRC laws and regulations in material aspects; and 

  

	 	3.8	There are no pending or threatened litigation, arbitration or administrative proceedings relating to the equity interests in Party C, assets of Party C or Party C. 

 

	4.	Effective Date and Term 

 This Agreement shall become effective upon execution by
the Parties, and remain effective until all equity interests held by Party B in Party C have been transferred or assigned to Party A and/or any other person designated by Party A in accordance with this Agreement. 

 

	5.	Governing Law and Resolution of Disputes 

  

	 	5.1	Governing Law 

 The execution, effectiveness, interpretation, performance, amendment and
termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of the PRC. 
  

	 	5.2	Methods of Resolution of Disputes 

 In the event of any dispute with respect to the
interpretation and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the
Shanghai International Economic and Trade Arbitration Commission for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of the arbitration shall be Shanghai. The
arbitration award shall be final and binding on both Parties. 
  

	6.	Taxes and Fees 

 Each Party shall pay any and all transfer and registration taxes,
expenses and fees incurred thereby or levied thereon in accordance with the laws of China in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated
under this Agreement and the Transfer Contracts. 

  
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	7.	Notices 

  

	 	7.1	All notices and other communications required to be given pursuant to this Agreement or otherwise given in connection with this Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a
commercial courier service, facsimile transmission or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been effectively given shall be determined as follows: 

 

	 	7.1.1	Notices given by personal delivery shall be deemed effectively given on the date of receipt at the address set forth below, or the date on which such notices are placed at the address set forth below; 

 

	 	7.1.2	Notices given by courier service, registered mail or prepaid postage shall be deemed effectively given on the date of receipt, refusal or return for any reason at the address set forth below; 

 

	 	7.1.3	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission to the Fax no. set forth below (as evidenced by an automatically generated confirmation of transmission).
Notices given by email shall be deemed effectively given on the date of successful transmission, provided that the sending Party has received a system message indicating successful transmission or has not received a system message within 24 hours
indicating failure of delivery or return of email. 

  

	 	7.2	Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms of this Section. 

 

	8.	Confidentiality 

 The Parties acknowledge that the existence and the terms of this
Agreement, and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such
confidential information, and without obtaining the written consent of other Parties, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain
(other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities;
or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal
counsels, or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of, or agencies engaged by any Party
shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement. 

  
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	9.	Further Warranties 

 The Parties agree to promptly execute documents that are
reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this
Agreement. 
  

	10.	Breach of Agreement 

  

	 	10.1	If Party B or Party C materially breaches any provision under this Agreement, or fails to perform, performs incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this
Agreement on the part of Party B or Party C (as the case may be). Party A is entitled to require Party B or Party C to rectify or take remedial measures. If within ten (10) days after Party A delivers a written notice to Party B or Party C and
requires for rectification (or within any other reasonable period required by Party A), Party B or Party C (as the case may be) fails to rectify or take remedial measures, Party A is entitled to, at its sole discretion, (1) terminate this
Agreement and require Party B or Party C (as the case may be) to compensate all the losses; or (2) require specific performance of the obligations of Party B or Party C (as the case may be) under this Agreement and require Party B or Party C
(as the case may be) to compensate all the losses. This Section shall not prejudice any other rights of Party A under this Agreement. 

  

	 	10.2	Party B or Party C shall not terminate this Agreement unilaterally in any event unless otherwise required by the applicable laws. 

  

	11.	Miscellaneous 

  

	 	11.1	Amendments, changes and supplements 

 Any amendment, change and supplement to this Agreement
shall be made in writing by all of the Parties. Any amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal
validity as this Agreement. 
  

	 	11.2	Entire agreement 

 Except for the amendments, supplements or changes in writing executed after
the execution of this Agreement, this Agreement shall constitute the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior oral and written consultations, representations
and contracts reached with respect to the subject matter of this Agreement. 
  

	 	11.3	Headings 

 The headings of this Agreement are for convenience only, and shall not be used to
interpret, explain or otherwise affect the meanings of the provisions of this Agreement. 

  
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	 	11.4	Severability 

 In the event that one or several of the provisions of this Agreement are held to
be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties
shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective
provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 
  

	 	11.5	Successors 

 The terms of this Agreement shall be binding on the Parties hereto and their
respective successors, heirs (including who inherited the Optioned Interests) and permitted assigns, and shall be valid with respect to the Parties and each of their successors, heirs and permitted assigns. 

 

	 	11.6	Survival 

  

	 	11.6.1	Any obligations that occurred or that are due in connection with this Agreement before the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. 

 

	 	11.6.2	The provisions of Sections 5, 8, 10 and this Section 11.6 shall survive the termination of this Agreement. 

  

	 	11.7	Waivers 

 Any Party may waive the terms and conditions of this Agreement, provided that such a
waiver must be provided in writing and shall require the signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar
breach in other circumstances. 
  

	 	11.8	Language 

 This Agreement is written in English language in three copies, each Party having one
copy. 

  
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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Exclusive Option Agreement as of the date first above written. 
  

			
	Party A:	 	NIO Co., Ltd.
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative
		
	Party B:	 	Bin LI
		
	By:	 	 /s/ Bin Li

		
	Party C:	 	Beijing NIO Network Technology Co., Ltd.
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative

 Exclusive Option Agreement 

This Exclusive Option Agreement (this “Agreement”) is executed by and among the following Parties as of April 19, 2018 in
Shanghai, the People’s Republic of China (“China” or the “PRC”): 
  

			
	Party A:	  	NIO Co., Ltd.

  

	Address:	      Room 115, No. 569 Anchi Road, Anting Town, Jiading District, Shanghai 

  

			
	Party B:	  	  Lihong QIN (a Chinese citizen with Identification No.: ********)

  

			
	Party C:	  	Beijing NIO Network Technology Co., Ltd.

  

	Address:	      Room 112, Beijing Yuxiangqing Hotel, No. 23 Courtyard, Babaozhuang, Haidian District, Beijing 

In this Agreement, each of Party A, Party B and Party C shall be hereinafter referred to as a “Party” individually, and as the
“Parties” collectively. 
 Whereas: 
  

	1.	Party B is the shareholder of Party C and as of the date hereof hold 20% of the equity interests of Party C, representing RMB 2,000,000in the registered capital of Party C. 

 

	2.	Party A and Party B executed a Loan Agreement (“Loan Agreement”) on April 19, 2018, according to which Party A agreed to provide to Party B a loan in the amount of RMB 2,000,000 for the purpose as
designated in the Loan Agreement. 

 Now therefore, upon mutual discussion and negotiation, the Parties have reached the
following agreement: 
  

	1.	Sale and Purchase of Equity Interest 

  

	 	1.1	Option Granted 

 Party B hereby irrevocably and unconditionally grants Party A an
irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s
sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other person
shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as
used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations. 

  
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	 	1.2	Steps for Exercise of the Equity Interest Purchase Option 

 Subject to the provisions of
the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the “Equity Interest Purchase Option Notice”), specifying:(a) Party A’s decision to exercise the
Equity Interest Purchase Option, and the name of the Designee(s) if any; (b) the portion of equity interests to be purchased by Party A or the Designee from Party B (the “Optioned Interests”); and (c) the date for purchasing the
Optioned Interests or the date for the transfer of the Optioned Interests. 
  

	 	1.3	Equity Interest Purchase Price 

 Optioned Interests 

The total price for the purchase by Party A of all Optioned Interests held by Party B upon exercise of the Equity Interest Purchase Option by
Party A shall equal to the amount of registered capital contributed by Party B in Party C for such Optioned Interests (or such price may be as set forth in the equity transfer agreement to be executed between Party A (or the Designee) and Party B
separately, provided that such price does not violate PRC laws and regulations and is acceptable to Party A); if Party A exercises the Equity Interest Purchase Option to purchase part of the Optioned Interests held by Party B in Party C, then the
purchase price shall be calculated on a pro rata basis. If at the time when Party A exercises the Equity Interest Purchase Option, the PRC laws impose mandatory requirements on the purchase price of such Optioned Interests, such that the minimum
price permitted under PRC law is higher than the aforementioned price, then the purchase price shall be such minimum price permitted by PRC law (collectively, the “Equity Interest Purchase Price”). 

 

	 	1.4	Transfer of Optioned Interests 

 For each exercise of the Equity Interest Purchase
Option: 
  

	 	1.4.1	Party B shall cause Party C to promptly convene a shareholders’ meeting, at which a resolution shall be adopted approving Party B’s transfer of the Optioned Interests to Party A and/or the Designee(s);

  

	 	1.4.2	Party B shall obtain written statements from the other shareholders of Party C giving consent to the transfer of the Optioned Interests by Party B to Party A and/or the Designee(s) and waiving any right of first refusal
with respect thereto; 

  

	 	1.4.3	Party B shall execute an equity interest transfer contract with respect to each transfer with Party A and/or each Designee (whichever is applicable), in accordance with the provisions of this Agreement and the Equity
Interest Purchase Option Notice regarding the Optioned Interests; 

  
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	 	1.4.4	Party B shall, within thirty (30) days after receipt of the Equity Interest Purchase Option Notice, execute all necessary contracts, agreements or documents with relevant parties, obtain all necessary government
approvals and permits, and complete all necessary registrations and filings, so as to transfer valid ownership of the Optioned Interests to Party A and/or the Designee(s), unencumbered by any security interests, and cause Party A and/or the
Designee(s) to become the registered owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement, “security interests” shall include securities, mortgages, third party’s rights or interests, any stock
options, acquisition right, right of first refusal, right to offset, ownership retention or other security arrangements, but shall be deemed to exclude any security interest created by this Agreement, Party B’s Equity Interest Pledge Agreement
and Party B’s Power of Attorney; “Party B’s Equity Interest Pledge Agreement” as used in this Agreement shall refer to the Interest Pledge Agreement executed by and among Party A, Party B and Party C on the date hereof and any
modification, amendment and restatement thereto.; “Party B’s Power of Attorney” as used in this Agreement shall refer to the Power of Attorney executed by Party B on the date hereof granting Party A with a power of attorney and any
modification, amendment and restatement thereto. 

  

	 	1.5	Payment 

 The Parties have agreed in the Loan Agreement that any proceeds obtained by
Party B through the transfer of its equity interests in Party C shall be used for repayment of the loan provided by Party A (and any interest thereon) in accordance with the Loan Agreement. Accordingly, upon exercise of the Equity Interest Purchase
Option, Party A may make the payment of the Equity Interest Purchase Price by way of offset of the outstanding debts owed by Party B to Party A (including without limitation the outstanding amount of the loan owed by Party B to Party A and any
interest thereon) (such debts, the “Offset Debts”), in which case Party A shall not be required to pay any additional purchase price to Party B, unless the Equity Interest Purchase Price set forth herein is required to be adjusted in
accordance with the PRC laws. If the PRC laws impose mandatory requirements on the Equity Interest Purchase Price agreed under this Agreement, such that the minimum Equity Interest Purchase Price permitted under PRC laws exceeds the price already
offset with the Offset Debts, Party B hereby waives its right to receive the amount of price that exceeds the amount offset with the Offset Debts. 
  

	2.	Covenants 

  

	 	2.1	Covenants regarding Party C 

 Party B (as a shareholder of Party C) and Party C hereby
covenant as follows: 

  
 3 

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	 	2.1.1	Without the prior written consent of Party A, they shall not in any manner supplement, change or amend the articles of association of Party C, increase or decrease its registered capital, or change its structure of
registered capital in other manners; 

  

	 	2.1.2	They shall maintain Party C’s corporate existence in accordance with good financial and business standards and practices, obtain and maintain all necessary government licenses and permits by prudently and
effectively operating its business and handling its affairs; 

  

	 	2.1.3	Without the prior written consent of Party A, they shall not at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner any material assets of Party C or legal or beneficial interest in
the material business or revenues of Party C, or allow the encumbrance thereon of any security interest; 

  

	 	2.1.4	Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer the existence of any debt, except for payables incurred in the ordinary course of business other than through loans;

  

	 	2.1.5	They shall always operate all of Party C’s businesses within the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that may adversely affect Party C’s
operating status and asset value; 

  

	 	2.1.6	Without the prior written consent of Party A, they shall not cause Party C to execute any major contract, except the contracts in the ordinary course of business; 

 

	 	2.1.7	Without the prior written consent of Party A, they shall not cause Party C to provide any person with any loan or credit; 

  

	 	2.1.8	They shall provide Party A with information on Party C’s business operations and financial condition at Party A’s request; 

 

	 	2.1.9	If requested by Party A, they shall procure and maintain insurance in respect of Party C’s assets and business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for
companies that operate similar businesses; 

  

	 	2.1.10	Without the prior written consent of Party A, they shall not cause or permit Party C to merge, consolidate with, acquire or invest in any person; 

 

	 	2.1.11	They shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s assets, business, revenue or equity interest;

  
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	 	2.1.12	To maintain the ownership by Party C of all of its assets, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate complaints, and raise
necessary or appropriate defenses against all claims; 

  

	 	2.1.13	Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner distribute dividends to its shareholders, provided that upon Party A’s written request, Party C shall immediately
distribute all distributable profits to its shareholders; 

  

	 	2.1.14	At the request of Party A, they shall appoint any person designated by Party A as the director or executive director of Party C. 

  

	 	2.1.15	Without Party A’s prior written consent, they shall not engage in any business in competition with Party A or its affiliates; and 

 

	 	2.1.16	Unless otherwise required by PRC law, Party C shall not be dissolved or liquated without prior written consent by Party A; 

  

	 	2.1.17	Once PRC laws permits foreign investors to invest in the principal business of Party C in China, with a controlling stake and/or in the form of wholly foreign-owned enterprises, and the competent government authorities
of China begin to approve such investments, upon Party’s exercise of the Equity Interest Purchase Option, Party B shall immediately transfer to Party A or the Designee(s) the equity interest in Party C held by Party B. 

 

	 	2.2	Covenants of Party B 

 Party B hereby covenants as follows: 

 

	 	2.2.1	Without the prior written consent of Party A, Party B shall not sell, transfer, mortgage or dispose of in any other manner any legal or beneficial interest in the equity interests in Party C held by Party B, or allow
the encumbrance thereon, except for the interest placed in accordance with Party B’s Equity Interest Pledge Agreement, Party B’s Power of Attorney and this Agreement; 

 

	 	2.2.2	Without the prior written consent of Party A, Party B shall ensure the shareholders’ meeting and/or the directors (or the executive director) of Party C not to approve any sale, transfer, mortgage or disposition in
any other manner of any legal or beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon of any security interest, except for the interest placed in accordance with Party B’s Equity Interest
Pledge Agreement, Party B’s Power of Attorney and this Agreement; 

  
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	 	2.2.3	Without the prior written consent of Party A, Party B shall cause the shareholders’ meeting or the directors (or the executive director) of Party C not to approve the merger or consolidation with any person, or the
acquisition of or investment in any person; 

  

	 	2.2.4	Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the equity interests in Party C held by Party B;

  

	 	2.2.5	Party B shall ensure the shareholders’ meeting or the directors (or the executive director) of Party C to vote in favor of the transfer of the Optioned Interests as set forth in this Agreement and to take any and
all other actions that may be requested by Party A; 

  

	 	2.2.6	To the extent necessary to maintain Party B’s ownership in Party C, Party B shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate
complaints, and raise necessary or appropriate defenses against all claims; 

  

	 	2.2.7	Party B shall appoint any designee of Party A as the director or the executive director of Party C, at the request of Party A; 

  

	 	2.2.8	Party B gives consent to the execution by each of the other shareholders of Party C with Party A and Party C of the exclusive option agreement, the equity interest pledge agreement and the power of attorney similar to
this Agreement, Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney, and undertakes not to take any action in conflict with such documents executed by such other shareholders; with respect to the transfer of equity
interest of Party C by any of the other shareholders of Party C to Party A and/or the Designee(s) pursuant to such shareholder’s exclusive option agreement, Party B hereby waives all of its right of first refusal (if any). 

 

	 	2.2.9	If Party received any profit distribution, interest, dividend or proceeds of liquidation from Party C, Party B shall promptly donate all such profit distribution, interest, dividend or proceeds of liquidation to Party A
or any other person designated by Party A in the manner permitted by the applicable PRC laws; and 

  

	 	2.2.10	Party B shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by and among Party B, Party C and Party A, perform the obligations hereunder and thereunder, and
refrain from any action/omission that may affect the effectiveness and enforceability thereof. To the extent that Party B has any remaining rights with respect to the equity interests subject to this Agreement hereunder or under the Party B’s
Equity Interest Pledge Agreement or under the Party B’s Power of Attorney, Party B shall not exercise such rights except in accordance with the written instructions of Party A. 

  
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	3.	Representations and Warranties 

 Party B and Party C hereby represent and warrant
to Party A, jointly and severally, as of the date of this Agreement and each date of the transfer of the Optioned Interests, that: 
  

	 	3.1	They have the power, capacity and authority to execute and deliver this Agreement and any equity interest transfer contracts to which they are parties concerning each transfer of the Optioned Interests as described
thereunder (each, a “Transfer Contract”), and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to enter into Transfer Contracts substantially consistent with the terms of this
Agreement upon Party A’s exercise of the Equity Interest Purchase Option. This Agreement and the Transfer Contracts to which they are parties constitute or will constitute their legal, valid and binding obligations and shall be enforceable
against them in accordance with the provisions thereof; 

  

	 	3.2	Party B and Party C have obtained any and all approvals and consents from the competent government authorities and third parties (if required) for the execution, delivery and performance of this Agreement.

  

	 	3.3	The execution and delivery of this Agreement or any Transfer Contracts and the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation of any applicable laws of China;
(ii) be inconsistent with the articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any contracts or instruments to which they are a party or which are binding on them, or constitute any
breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued effectiveness of any licenses or permits issued to either of them; or
(v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them; 

  

	 	3.4	Party B has the legal and complete title to the equity interests held by it in Party C. Except for Party B’s Equity Interest Pledge Agreement and Party B’s Power of Attorney, Party B has not placed any
security interest or encumbrances on such equity interests; 

  

	 	3.5	Party C is a limited liability company duly organized and validly existing under the laws of the PRC. Party C has the legal and complete title to all of the assets used in connection with its business operation, and has
not placed any security interest on the aforementioned assets; 

  
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	 	3.6	Party C does not have any outstanding debts, except for (i) debt incurred during the ordinary course of business; and (ii) debts disclosed to Party A for which Party A’s written consent has been obtained.

  

	 	3.7	Party C has complied with all PRC laws and regulations in material aspects; and 

  

	 	3.8	There are no pending or threatened litigation, arbitration or administrative proceedings relating to the equity interests in Party C, assets of Party C or Party C. 

 

	4.	Effective Date and Term 

 This Agreement shall become effective upon execution by
the Parties, and remain effective until all equity interests held by Party B in Party C have been transferred or assigned to Party A and/or any other person designated by Party A in accordance with this Agreement. 

 

	5.	Governing Law and Resolution of Disputes 

  

	 	5.1	Governing Law 

 The execution, effectiveness, interpretation, performance, amendment and
termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of the PRC. 
  

	 	5.2	Methods of Resolution of Disputes 

 In the event of any dispute with respect to the
interpretation and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the
Shanghai International Economic and Trade Arbitration Commission for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of the arbitration shall be Shanghai. The
arbitration award shall be final and binding on both Parties. 
  

	6.	Taxes and Fees 

 Each Party shall pay any and all transfer and registration taxes,
expenses and fees incurred thereby or levied thereon in accordance with the laws of China in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated
under this Agreement and the Transfer Contracts. 

  
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	7.	Notices 

  

	 	7.1	All notices and other communications required to be given pursuant to this Agreement or otherwise given in connection with this Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a
commercial courier service, facsimile transmission or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been effectively given shall be determined as follows: 

 

	 	7.1.1	Notices given by personal delivery shall be deemed effectively given on the date of receipt at the address set forth below, or the date on which such notices are placed at the address set forth below; 

 

	 	7.1.2	Notices given by courier service, registered mail or prepaid postage shall be deemed effectively given on the date of receipt, refusal or return for any reason at the address set forth below; 

 

	 	7.1.3	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission to the Fax no. set forth below (as evidenced by an automatically generated confirmation of transmission).
Notices given by email shall be deemed effectively given on the date of successful transmission, provided that the sending Party has received a system message indicating successful transmission or has not received a system message within 24 hours
indicating failure of delivery or return of email. 

  

	 	7.2	Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms of this Section. 

 

	8.	Confidentiality 

 The Parties acknowledge that the existence and
the terms of this Agreement, and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain confidentiality
of all such confidential information, and without obtaining the written consent of other Parties, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public
domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government
authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors,
employees, legal counsels, or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of, or agencies
engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement. 

  
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	9.	Further Warranties 

 The Parties agree to promptly execute documents that are
reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this
Agreement. 
  

	10.	Breach of Agreement 

  

	 	10.1	If Party B or Party C materially breaches any provision under this Agreement, or fails to perform, performs incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this
Agreement on the part of Party B or Party C (as the case may be). Party A is entitled to require Party B or Party C to rectify or take remedial measures. If within ten (10) days after Party A delivers a written notice to Party B or Party C and
requires for rectification (or within any other reasonable period required by Party A), Party B or Party C (as the case may be) fails to rectify or take remedial measures, Party A is entitled to, at its sole discretion, (1) terminate this
Agreement and require Party B or Party C (as the case may be) to compensate all the losses; or (2) require specific performance of the obligations of Party B or Party C (as the case may be) under this Agreement and require Party B or Party C
(as the case may be) to compensate all the losses. This Section shall not prejudice any other rights of Party A under this Agreement. 

  

	 	10.2	Party B or Party C shall not terminate this Agreement unilaterally in any event unless otherwise required by the applicable laws. 

  

	11.	Miscellaneous 

  

	 	11.1	Amendments, changes and supplements 

 Any amendment, change and supplement to this Agreement
shall be made in writing by all of the Parties. Any amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal
validity as this Agreement. 
  

	 	11.2	Entire agreement 

 Except for the amendments, supplements or changes in writing executed after
the execution of this Agreement, this Agreement shall constitute the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior oral and written consultations, representations
and contracts reached with respect to the subject matter of this Agreement. 
  

	 	11.3	Headings 

 The headings of this Agreement are for convenience only, and shall not be used to
interpret, explain or otherwise affect the meanings of the provisions of this Agreement. 

  
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	 	11.4	Severability 

 In the event that one or several of the provisions of this Agreement are held to
be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties
shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective
provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 
  

	 	11.5	Successors 

 The terms of this Agreement shall be binding on the Parties hereto and their
respective successors, heirs (including who inherited the Optioned Interests) and permitted assigns, and shall be valid with respect to the Parties and each of their successors, heirs and permitted assigns. 

 

	 	11.6	Survival 

  

	 	11.6.1	Any obligations that occurred or that are due in connection with this Agreement before the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. 

 

	 	11.6.2	The provisions of Sections 5, 8, 10 and this Section 11.6 shall survive the termination of this Agreement. 

  

	 	11.7	Waivers 

 Any Party may waive the terms and conditions of this Agreement, provided that such a
waiver must be provided in writing and shall require the signatures of the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar
breach in other circumstances. 
  

	 	11.8	Language 

 This Agreement is written in English language in three copies, each Party having one
copy. 

  
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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Exclusive Option Agreement as of the date first above written. 
  

			
	Party A:	 	NIO Co., Ltd.
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative
		
	Party B:	 	Lihong QIN
		
	By:	 	 /s/ Lihong Qin

		
	Party C:	 	Beijing NIO Network Technology Co., Ltd.
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal RepresentativeExhibit 4.1

 

ASTRAZENECA PLC

 

OFFICERS’ CERTIFICATE

 

In connection with the issuance of the
3.500% Notes due 2023 (the “2023 Notes”), the Floating Rate Notes due 2023 (the “Floating Rate Notes”),
the 4.000% Notes due 2029 (the “2029 Notes”) and the 4.375% Notes due 2048 (the “2048 Notes”,
together with the 2023 Notes and the 2029 Notes, the “Fixed Rate Notes”, and collectively with the Floating
Rate Notes, the “Notes” or the “Securities”) of AstraZeneca PLC (the “Issuer”)
pursuant to the Indenture, dated as of April 1, 2004 (the “Indenture”), between the Issuer and The Bank of New
York Mellon as successor Trustee (section references herein being to the Indenture), and pursuant to the authorization of the Board
of Directors of the Issuer at its meetings held on May 17, 2018 and May 18, 2018 and the authorisation of the Issuer’s Issuance
Committee by written resolution dated July 13, 2018, the undersigned hereby confirms that, to the extent not otherwise provided
for in the Indenture, the following forms, terms and conditions of the Notes were established as required pursuant to Section 2.01
and Section 2.08 of the Indenture:

 

	Title of Notes	
        3.500% Notes due 2023 

        Floating Rate Notes due 2023 

        4.000% Notes due 2029 

        4.375% Notes due 2048 

	 	 
	Initial Aggregate Principal Amount of Notes	
        2023 Notes: US$850,000,000 

        Floating Rate Notes: US$400,000,000 

        2029 Notes: US$1,000,000,000 

        2048 Notes: US$750,000,000 

	 	 
	Price to Public	2023 Notes: 99.673% of the Principal Amount per 2023 Note, plus accrued interest, if any, from August 17, 2018
	 	 
	 	
        Floating Rate Notes: 100.000% of the
Principal Amount per Floating Rate Note, plus accrued interest, if any, from August 17, 2018 

         

        2029 Notes: 99.590% of the Principal
Amount per 2029 Note, plus accrued interest, if any, from August 17, 2018 

	 	 
	 	2048 Notes: 98.944% of the Principal Amount per 2048 Note, plus accrued interest, if any, from August 17, 2018
	 	 
	Issue Date	
        2023 Notes: August 17, 2018 

        Floating Rate Notes: August 17, 2018 

        2029 Notes: August 17, 2018 

        2048 Notes: August 17, 2018 

	 	 
	Form of Notes	The Notes will be issued in the form of global notes that will be deposited with The Depository Trust Company, New York, New York (“DTC”) on the closing date. Seven global notes will be issued to DTC, which will be executed and delivered in substantially the form of Notes set forth in Exhibits A, B, C and D hereto.  In certain circumstances described in the Indenture, Notes may be issued in definitive form.
	 	 
	Maturity	
        2023 Notes: August 17, 2023 

        Floating Rate Notes: August 17, 2023 

        2029 Notes: January 17, 2029 

        2048 Notes: August 17, 2048 

	 	 

    1

     

    

	Interest Rate for Fixed Rate Notes	
        2023 Notes: 3.500% per annum, accruing from
        August 17, 2018

         

        2029 Notes: 4.000% per annum, accruing from
        August 17, 2018

         

        2048 Notes: 4.375% per annum, accruing from August
17, 2018 

	 	 
	Interest Periods for Fixed Rate Notes	The first interest period for the Fixed Rate Notes will be the period from and including the original issue date to but excluding the first Fixed Rate Interest Payment Date (as defined below). Thereafter, the interest periods for the Fixed Rate Notes will be the periods from and including the Fixed Rate Interest Payment Dates to but excluding the immediately succeeding Fixed Rate Interest Payment Date (together with the first interest period, each a “Fixed Rate Interest Period”). The final Fixed Rate Interest Period will be the period from and including the Fixed Rate Interest Payment Date immediately preceding the maturity date to the maturity date, or the redemption date.
	 	 
	Interest Rate for Floating Rate Notes	
        The interest rate for the Floating Rate Notes for
        the first interest period will be LIBOR (as defined below) as determined on August 15, 2018 plus the Spread (as defined below).
        Thereafter, the interest rate for any Floating Rate Interest Period (as defined below) will be LIBOR as determined on the applicable
        Interest Determination Date (as defined below) plus the Spread.

         

        “LIBOR” means, with respect to
        any Interest Determination Date, the offered rate for deposits of US dollars having a maturity of three months that appears on
        the Bloomberg Screen BBAL display page, or any successor page, on Bloomberg or any successor service (or any such other service(s)
        as may be nominated by ICE Benchmark Administration Limited (“IBA”) or its successor or such other entity assuming
        the responsibility of IBA or its successor in calculating the London Interbank Offered Rate in the event IBA or its successor no
        longer does so) (the “Designated LIBOR Page”).

         

        If no rate appears on the Designated LIBOR Page, LIBOR
will be determined for such Interest Determination Date on the basis of the rates at approximately 11:00 a.m., London time, on
such Interest Determination Date at which deposits in US dollars are offered to prime banks in the London inter-bank market by
four major banks in such market selected by the calculation agent, after consultation with the Issuer, for a term of three months
and in a principal amount equal to an amount that in the judgment of the calculation agent is representative for a single transaction
in US dollars in such market at such time (a “Representative Amount”). The calculation agent will request the
principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided,
LIBOR for such Floating Rate Interest Period will be the arithmetic mean (rounded, if necessary, to the nearest one-hundred-thousandth
of a percentage point, with five-millionths of a percentage point rounded upwards) of such quotations. If fewer than two such
quotations are provided, LIBOR for such Floating Rate Interest Period will be the arithmetic mean (rounded, if necessary, to the
nearest one-hundred-thousandth of a percentage point, with five millionths of a percentage point rounded upwards) of the rates
quoted at approximately 11:00 a.m. in the City of New York on such Interest Determination Date by 

	 	 

    2

     

    

	 	
        three major banks in New York City, selected by the
        calculation agent, after consultation with the Issuer, for loans in US dollars to leading European banks, for a term of three months
        and in a Representative Amount; provided, however, that if the banks so selected are not quoting as mentioned above, LIBOR
        on the Interest Determination Date will be LIBOR in effect with respect to the immediately preceding Interest Determination Date,
        or in the case of the initial Interest Determination Date, the First Interest Rate.

         

        Notwithstanding the above, if the Issuer determines
        on or prior to the relevant Interest Determination Date, after consultation with an independent financial advisor selected
        by the Issuer in its sole discretion, that LIBOR has ceased to be calculated or administered or is no longer viewed as an acceptable
        benchmark rate in accordance with accepted market practice for debt obligations such as the Floating Rate Notes, then the Issuer
        will appoint in its sole discretion an independent financial advisor (the “IFA”) to determine whether there
        is a substitute or successor base rate to LIBOR that is consistent with accepted market practice for debt obligations such as the
        Floating Rate Notes (the “Alternative Rate”). If the IFA determines that there is an Alternative Rate, for each
        future Interest Determination Date, the calculation agent shall use such Alternative Rate as a substitute for LIBOR in calculating
        the interest rate on the Floating Rate Notes. As part of such substitution, the calculation agent will make such adjustments to
        the Alternative Rate or the Spread thereon, as well as the business day convention, Interest Determination Dates, Interest Reset
        Dates and related provisions and definitions (“Adjustments”), in each case that are consistent with accepted
        market practice for the use of such Alternative Rate, all as determined and directed by the IFA; provided, however, that the calculation
        agent shall not be required to implement any such Adjustments that affects its own rights, duties or immunities under the Indenture,
        the Calculation Agency Agreement or otherwise. If the IFA determines that there is no such Alternative Rate as provided above,
        LIBOR will be equal to the rate of interest in effect with respect to the immediately preceding Interest Determination Date or,
        in the case of the initial Interest Determination Date, the rate of interest will be equal to the First Interest Rate.

         

        The interest rate on the Floating Rate Notes will
        in no event be higher than the maximum rate permitted by law.

         

        “Spread” means 66.5 basis points. 

	 	 
	Interest Determination Dates for Floating Rate Notes	Interest on the Floating Rate Notes will be determined two London business days prior to each Interest Reset Date. LIBOR for the first Floating Rate Interest Period was determined on August 15, 2018.
	 	 
	Interest Reset Dates for Floating Rate Notes	Interest on the Floating Rate Notes will have Interest Reset Dates of February 17, May 17, August 17 and November 17 of each year, commencing November 17, 2018.
	 	 
	Interest Periods for Floating Rate Notes	The first interest period for the Floating Rate Notes will be the period from and including the original issue date to but excluding the immediately succeeding Interest Reset Date. Thereafter, the interest periods for the Floating Rate Notes will be the periods
	 	 

    3

     

    

	 	from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset Date (together with the first interest period, each a “Floating Rate Interest Period”). However, the final Floating Rate Interest Period will be the period from and including the Interest Reset Date immediately preceding the maturity date to the maturity date or the redemption date.
	 	 
	Interest Payment Dates	
        Fixed Rate Notes: Interest on the 2023 Notes
        shall be payable semi-annually in arrears on February 17 and August 17, commencing February 17, 2019 (each, a “2023 Fixed
        Rate Interest Payment Date”).

         

        Interest on the 2029 Notes shall be payable semi-annually
        in arrears on January 17 and July 17, commencing January 17, 2019 (each, a “2029 Fixed Rate Interest Payment Date”).

         

        Interest on the 2048 Notes shall be payable semi-annually
in arrears on February 17 and August 17, commencing February 17, 2019 (each, a “2048 Fixed Rate Interest Payment Date”,
and together with each 2023 Fixed Rate Interest Payment Date and 2029 Fixed Rate Interest Payment Date, each a “Fixed
Rate Interest Payment Date”). 

	 	 
	 	
        Notwithstanding the above, if a Fixed Rate Interest
        Payment Date would fall on a day that is not a business day (as defined below), the Fixed Rate Interest Payment Date will be postponed
        to the next succeeding day that is a business day, but no additional interest shall be paid unless the issuer fails to make payment
        on such date.

         

        Floating Rate Notes: Interest on the Floating
        Rate Notes will be paid quarterly in arrears on February 17, May 17, August 17 and November 17 of each year, commencing November
        17, 2018 (each, a “Floating Rate Interest Payment Date”).

         

        Notwithstanding the above, if a Floating Rate Interest
Payment Date would fall on a day that is not a business day, the Floating Rate Interest Payment Date will be postponed to the
next succeeding day that is a business day, except that if the business day falls in the next succeeding calendar month, the applicable
Floating Rate Interest Payment Date will be the immediately preceding business day. In each such case, except for the Floating
Rate Interest Payment Date falling on the maturity date, the Floating Rate Interest Periods and the Interest Reset Dates will
be adjusted accordingly to calculate the amount of interest payable on the Floating Rate Notes. 

	 	 
	Regular Record Dates for Interest	Interest shall be paid to the holder in whose name the Notes are registered at the close of business on the 15th calendar day preceding each Fixed Rate Interest Payment Date or Floating Rate Interest Payment Date, as the case may be, whether or not such day is a business day.
	 	 
	Business day	Any day which is not, in London, England or New York, New York, or the place of payment of amounts payable in respect of the Notes, a Saturday, a Sunday, a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.
	 	 

    4

     

    

	London business day	A day on which dealings in deposits in U.S. dollars are transacted in the London interbank market.
	 	 
	Place of Payment, Registration of Transfer and Exchange, Paying Agent, Calculation Agent	The Bank
of New York Mellon
 240 Greenwich Street
 New York, NY 10286

	 	 
	Trustee	The Bank of New York Mellon
	 	 
	Notice and Demands to Issuer	
        1 Francis Crick Avenue 

        Cambridge Biomedical Campus 

        Cambridge CB2 0AA

England, United Kingdom

Attn: The Company Secretary 

	 	 
	Redemption Provisions:	 
	 	 
	Optional Tax Redemption for any series of Notes	Optional, in whole but not in part, at the option of the Issuer, at any time in accordance with the terms set forth in the relevant form of Notes set forth in Exhibits A, B, C and D hereto. The Issuer may not otherwise redeem the Floating Rate Notes prior to maturity.
	 	 
	Optional Redemption for any series of Fixed Rate Notes	Optional, in whole or in part, from time to time as follows: (i) prior to the Par Call Date (as set forth below), at a redemption price equal to the greater of (A) 100% of the principal amount of the Fixed Rate Notes to be redeemed, and (B) as determined by the Quotation Agent (as defined below), the sum of the present values of the remaining scheduled payments of principal and interest on the Fixed Rate Notes to be redeemed (assuming for this purpose that such series of Notes matured on the applicable Par Call Date and not including any portion of such payments of interest accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus the Make Whole Spread (as set forth below) and (ii) on or after the Par Call Date, at a redemption price equal to 100% of the principal amount of the Fixed Rate Notes to be redeemed, plus, in each case, accrued interest thereon to but excluding the date of redemption.
	 	 
	 	“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.
	 	 
	 	“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the applicable series of Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such series of Notes (assuming for this purpose that such series of Fixed Rate Notes matured on the applicable Par Call Date).
	 	 
	 	“Comparable Treasury Price” means, with respect to any
	 	 

    5

     

    

	 	redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.
	 	 
	 	“Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer.
	 	 
	 	“Reference Treasury Dealer” means (i) each of Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective successors or affiliates; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer.
	 	 
	 	“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date.
	 	 
	 	“Make-Whole Spread” means, with respect to, (i) the 2023 Notes, 15 basis points, (ii) the 2029 Notes, 20 basis points and (iii) the 2048 Notes, 25 basis points.
	 	 
	 	“Par Call Date” means, with respect to, (i) the 2023 Notes, July 17, 2023, (ii) the 2029 Notes, October 17, 2028 and (iii) the 2048 Notes, February 17, 2048.
	 	 
	Redemption Notices	Notice of any redemption will be given to DTC at least 15 days but not more than 30 days prior to the redemption date to the Holders.  Unless the Issuer defaults in payment of the Redemption Price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption.
	 	 
	Defeasance and Discharge of the Notes (Section 9.03)	Applicable.
	 	 
	Sinking Fund	None.
	 	 
	Additional Amounts	Pursuant to the relevant form of Notes set forth in Exhibits A, B, C and D hereto, the Issuer may, subject to certain exceptions, be obligated to pay additional amounts.
	 	 
	Other Terms of the Notes	The other terms of the Notes shall be substantially as set forth in the Indenture, the relevant form of Notes attached hereto as Exhibits A, B, C and D, the Prospectus dated November 22, 2016 (the “Prospectus”) relating to the Notes and the Prospectus Supplement dated August 14, 2018 to the Prospectus.
	 	 

    6

     

    

Each of the undersigned hereby certifies
that:

 

1.       He
has read the provisions of the Indenture setting forth covenants and conditions to the Trustee’s authentication and delivery
of the Securities and the definitions in the Indenture relating thereto.

 

2.       He
has examined the resolutions of the Board of Directors and the Issuance Committee of the Issuer adopted prior to the date hereof
relating to the authorization, issuance, authentication and delivery of the Securities, such other corporate records of the Issuer,
as applicable, and such other documents deemed necessary as a basis for the opinion hereinafter expressed.

 

3.       In
his opinion, such examination is sufficient to enable him to express an informed opinion as to whether or not the covenants and
conditions referred to above have been complied with.

 

4.       He
is of the opinion that the covenants and conditions referred to above have been complied with.

 

    7

     

    

IN WITNESS WHEREOF, each of the undersigned
has hereunto signed his name.

 

Dated: August 17, 2018

 

	/s/ Marc Dunoyer
	Name:	Marc Dunoyer
	Title:	Chief Financial Officer

 

	/s/ Adrian Kemp
	Name:	Adrian Kemp
	Title:	Company Secretary

 

	 

 

[Signature Page to Officers’ Certificate
Pursuant to the Indenture]

 

     

     

    

Exhibit A

 

 

 

 

 

 

 

 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

3.500% Notes due 2023

 

	No. 001	$500,000,000

 

CUSIP No. 046353AR9

ISIN No. US046353AR96

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Five Hundred Million Dollars on August 17, 2023 and to pay interest thereon from August 17, 2018 or from the
most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually in arrears
on February 17 and August 17 in each year, commencing February 17, 2019 (each, an “Interest Payment Date”), at the
rate of 3.500% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (as defined
below) for such interest which shall be the 15th calendar day preceding such Interest Payment Date (whether or not such
day is a Business Day (as defined below)), as the case may be. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent record date (the “Special
Record Date”) for the payment of such defaulted interest to be fixed by the Trustee (which shall not be less than five Business
Days prior to the date of payment of such defaulted interest), notice whereof shall be given to Holders of Securities of this series
not less than 15 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this series may

 

     

     

    

be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated: August 17, 2018

 

	ASTRAZENECA PLC	 

 

	By:	/s/ Marc Dunoyer
	 	Name:Marc Dunoyer
	 	Title:Chief Financial Officer

 

	By:	/s/ Adrian Kemp
	 	Name: Adrian Kemp
	 	Title:Company Secretary

 

	 

[Signature page to Global Note]

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated: August 17, 2018

 

	The Bank of New York MELLON

As Trustee

 

	By:	L. O’Brien
	 	 	 
	 	 	 
	 	 	 

 

	 

 

[Signature page to Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$850,000,000.

 

The Securities of this series are subject
to redemption, as a whole or in part, from time to time, at the election of the Issuer, upon not less than 15 nor more than 30
days’ notice, as follows: (i) prior to July 17, 2023 (the “Par Call Date”), at a Redemption Price equal to the
greater of (A) 100% of the principal amount of the Securities to be redeemed, and (B) as determined by the Quotation Agent (as
defined below), the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming for
this purpose that such series of Notes matured on the Par Call Date and not including any portion of such payments of interest
accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 15 basis points, and (ii) on or after the Par Call Date, at a redemption price
equal to 100% of the principal amount of the Securities to be redeemed; plus, in each of cases (A) and (B) above, accrued interest
thereon to but excluding the date of redemption.

 

“Business Day” means any day which is not, in
London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities, a Saturday, a Sunday,
a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Securities
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of such Securities (assuming for this purpose
that such Securities matured on the Par Call Date).

 

     

     

    

“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation
Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.

 

“Quotation Agent” means the Reference Treasury
Dealer appointed by the Issuer.

 

“Reference Treasury Dealer” means (i) Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective
successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and
(ii) any other Primary Treasury Dealer selected by the Issuer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding
such redemption date.

 

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

 

     

     

    

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional amounts (“Additional Amounts”) as will
result in the receipt of such amounts as would have been received by the Holder had no such withholding or deduction been required,
provided that the Issuer will not have to pay Additional Amounts if:

 

(i)       the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)   the tax, levy, impost or other governmental charge is an estate, inheritance, gift, sale, transfer, personal property or similar
tax, levy, impost or other governmental charge;

 

     

     

    

(iv)    the tax, levy, impost or other governmental charge is payable in a manner that does not involve deduction or withholding from payments
on or in respect of this Security;

 

(v)    the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi)  
the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional
Amounts will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or
a person other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident
for tax purposes, that payment would be required for tax purposes to be included in income of a beneficiary or settlor with respect
to the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to the Additional Amounts
had that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

Any reference in the Indenture or this
Security to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that
may be payable with respect to such principal, premium or interest under the obligations referred to herein.

 

     

     

    

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

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

 

     

     

    

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $500,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

         

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

3.500% Notes due 2023

 

	No. 002	$350,000,000

 

CUSIP No. 046353AR9

ISIN No. US046353AR96

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Three Hundred And Fifty Million Dollars on August 17, 2023 and to pay interest thereon from August 17, 2018
or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually
in arrears on February 17 and August 17 in each year, commencing February 17, 2019 (each, an “Interest Payment Date”),
at the rate of 3.500% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
(as defined below) for such interest which shall be the 15th calendar day preceding such Interest Payment Date (whether
or not such day is a Business Day (as defined below)), as the case may be. Any such interest not so punctually paid or duly provided
for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent record date (the
“Special Record Date”) for the payment of such defaulted interest to be fixed by the Trustee (which shall not be less
than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be given to Holders of Securities
of this series not less than 15 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of this series may

 

     

     

    

be listed, and upon such notice as
may be required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated: August 17, 2018

 

	ASTRAZENECA PLC

 

	By:	/s/ Marc Dunoyer
	 	Name:Marc Dunoyer
	 	Title:Chief Financial Officer

 

	By:	/s/ Adrian Kemp
	 	Name: Adrian Kemp
	 	Title:Company Secretary

 

	 

[Signature page to Global Note]

 

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated: August 17, 2018

	The Bank of New York MELLON

As Trustee

 

	By:	L. O’Brien
	 	 	 
	 	 	 
	 	 	 

 

	 

[Signature page to Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$850,000,000.

 

The Securities of this series are subject
to redemption, as a whole or in part, from time to time, at the election of the Issuer, upon not less than 15 nor more than 30
days’ notice, as follows: (i) prior to July 17, 2023 (the “Par Call Date”), at a Redemption Price equal to the
greater of (A) 100% of the principal amount of the Securities to be redeemed, and (B) as determined by the Quotation Agent (as
defined below), the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming for
this purpose that such series of Notes matured on the Par Call Date and not including any portion of such payments of interest
accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 15 basis points, and (ii) on or after the Par Call Date, at a redemption price
equal to 100% of the principal amount of the Securities to be redeemed; plus, in each of cases (A) and (B) above, accrued interest
thereon to but excluding the date of redemption.

 

“Business Day” means any day which is not, in
London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities, a Saturday, a Sunday,
a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Securities
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of such Securities (assuming for this purpose
that such Securities matured on the Par Call Date).

 

“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation
Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.

 

“Quotation Agent” means the Reference Treasury
Dealer appointed by the Issuer.

 

     

     

    

“Reference Treasury Dealer” means (i) Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective
successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and
(ii) any other Primary Treasury Dealer selected by the Issuer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding
such redemption date.

 

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

 

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional

 

     

     

    

amounts (“Additional Amounts”)
as will result in the receipt of such amounts as would have been received by the Holder had no such withholding or deduction been
required, provided that the Issuer will not have to pay Additional Amounts if:

 

(i)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)  the tax, levy, impost or other governmental charge is an estate, inheritance, gift, sale, transfer, personal property or similar
tax, levy, impost or other governmental charge;

 

(iv)  the tax, levy, impost or other governmental charge is payable in a manner that does not involve deduction or withholding from payments
on or in respect of this Security;

 

(v)  the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi)  the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional
Amounts will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or
a person other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident
for tax purposes, that payment would be required for tax purposes to be included in

 

     

     

    

income of a beneficiary or settlor with
respect to the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to the Additional
Amounts had that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

Any reference in the Indenture or this
Security to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that
may be payable with respect to such principal, premium or interest under the obligations referred to herein.

 

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

     

     

    

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

 

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $350,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

         

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

     

     

    

Exhibit B

 

 

 

 

 

 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

Floating Rate Notes due 2023

 

	No. 001  	$400,000,000 

 

CUSIP No. 046353AS7

ISIN No. US046353AS79

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Four Hundred Million Dollars on August 17, 2023 and to pay interest thereon from August 17, 2018 or from the
most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, quarterly in arrears
on February 17, May 17, August 17 and November 17 in each year, commencing November 17, 2018 (each, an “Interest Payment
Date”), at the rate per annum determined in accordance with the provisions set forth on the reverse side hereof, until the
principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date (as defined below) for such interest which shall
be the 15th calendar day preceding such Interest Payment Date (whether or not such day is a Business Day (as defined
below)), as the case may be. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a subsequent record date (the “Special Record Date”) for the
payment of such defaulted interest to be fixed by the Trustee (which shall not be less than five Business Days prior to the date
of payment of such defaulted interest), notice whereof shall be given to Holders of Securities of this series not less than 15
days prior to such Special Record Date, or

 

     

     

    

be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated: August 17, 2018

 

	ASTRAZENECA PLC	 

 

	By:	/s/ Marc Dunoyer	 
	 	Name:Marc Dunoyer
	 	Title:Chief Financial Officer
	 	 

 

	 

	By:	/s/ Adrian Kemp	 
	 	Name:Adrian Kemp
	 	Title:Company Secretary
	 	 

 

	 

[Signature page to Floating Rate Global Note]

 

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated:August 17, 2018

 

	The Bank of New York MELLON

As Trustee

	 

	By:	L. O’Brien
	 	 	 
	 	 	 
	 	 	 

 

 

	 

[Signature page to Floating Rate Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$400,000,000.

 

Interest on the Securities is payable quarterly
in arrears on February 17, May 17, August 17 and November 17 of each year, commencing November 17, 2018. However, if an Interest
Payment Date would fall on a day that is not a Business Day, the Interest Payment Date will be postponed to the next succeeding
day that is a Business Day, except that if the Business Day falls in the next succeeding calendar month, the applicable Interest
Payment Date will be the immediately preceding Business Day. In each such case, except for the Interest Payment Date falling on
the maturity date, the Interest Periods (as defined below) and the Interest Reset Dates will be adjusted accordingly to calculate
the amount of interest payable on the Securities.

 

“Business Day” means any day
which is not, in London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities,
a Saturday, a Sunday, a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or
executive order to close.

 

A “London Business Day” means
a day on which dealings in deposits in U.S. dollars are transacted in the London interbank market.

 

The interest rate for the Securities for
the first Interest Period (as defined below) will be LIBOR (as defined below) as determined on August 15, 2018 plus the Spread.
Thereafter, the interest rate for each Interest Period other than the first Interest Period will be LIBOR as determined on the
applicable Interest Determination Date (as defined below) plus the Spread, in each case calculated on the basis of a 360-day year
and the actual number of days elapsed. The Spread is 66.5 basis points.

 

The interest rate will be reset on February
17, May 17, August 17 and November 17 of each year, commencing November 17, 2018 (each, an “Interest Reset Date”).
However, if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed
to the next succeeding day that is a Business Day, except that if the Business Day falls in the next succeeding calendar month,
the applicable Interest Reset Date will be the immediately preceding Business Day.

 

The first interest period will be the period
from and including the original issue date to but excluding the immediately succeeding Interest Reset Date. Thereafter, the interest
periods will be the periods from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset
Date (together with the first interest period, each an “Interest Period”).

 

     

     

    

However, the final Interest Period will be the period from and
including the Interest Reset Date immediately preceding the maturity date to the maturity date.

 

The Bank of New York Mellon, or its successor
appointed by the Issuer, will act as calculation agent (the “Calculation Agent”). The Calculation Agent in respect
of this Security, will determine LIBOR (as defined below) for each Interest Period on the second London Business Day prior to the
first day of such Interest Period (an “Interest Determination Date”).

 

“LIBOR” means, with respect
to any Interest Determination Date, the offered rate for deposits of U.S. dollars having a maturity of three months that appears
on the Bloomberg Screen BBAL display page, or any successor page, on Bloomberg or any successor service (or any such other service(s)
as may be nominated by ICE Benchmark Administration Limited (“IBA”) or its successor or such other entity assuming
the responsibility of IBA or its successor in calculating the London Interbank Offered Rate in the event IBA or its successor no
longer does so) (the “Designated LIBOR Page”).

 

If no rate appears on the Designated LIBOR
Page, LIBOR will be determined for such Interest Determination Date on the basis of the rates at approximately 11:00 a.m., London
time, on such Interest Determination Date at which deposits in U.S. dollars are offered to prime banks in the London inter-bank
market by four major banks in such market selected by the Calculation Agent, after consultation with the Issuer, for a term of
three months and in a principal amount equal to an amount that in the judgment of the Calculation Agent is representative for a
single transaction in U.S. dollars in such market at such time (a “Representative Amount”). The Calculation Agent will
request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are
provided, LIBOR for such Interest Period will be the arithmetic mean (rounded, if necessary, to the nearest one-hundred-thousandth
of a percentage point, with five-millionths of a percentage point rounded upwards) of such quotations. If fewer than two such quotations
are provided, LIBOR for such Interest Period will be the arithmetic mean (rounded, if necessary, to the nearest one-hundred-thousandth
of a percentage point, with five millionths of a percentage point rounded upwards) of the rates quoted at approximately 11:00 a.m.
in the City of New York on such Interest Determination Date by three major banks in New York City, selected by the Calculation
Agent, after consultation with the Issuer, for loans in U.S. dollars to leading European banks, for a term of three months and
in a Representative Amount; provided, however, that if the banks so selected are not quoting as mentioned above, LIBOR on the Interest
Determination Date will be LIBOR in effect with respect to the immediately preceding Interest Determination Date, or in the case
of the initial Interest Determination Date, the first Interest Rate.

 

Notwithstanding the above, if the Issuer
determines on or prior to the relevant Interest Determination Date, after consultation with an independent financial advisor selected
by the Issuer in its sole discretion, that LIBOR has ceased to be calculated or administered or is no longer viewed as an acceptable
benchmark rate in accordance with accepted market practice for debt obligations such as the Securities, then the Issuer will appoint
in its sole discretion an independent financial advisor (the “IFA”) to determine whether there is a substitute or successor
base rate to LIBOR that is consistent with accepted market practice for debt obligations such as the Securities (the “Alternative
Rate”). If the IFA determines that there is an Alternative Rate, for each future Interest Determination Date, the Calculation
Agent shall use such Alternative Rate as a substitute for LIBOR in calculating the interest rate on the Securities. As part of
such

 

     

     

    

substitution, the Calculation Agent will
make such adjustments to the Alternative Rate or the Spread thereon, as well as the business day convention, Interest Determination
Dates, Interest Reset Dates and related provisions and definitions (“Adjustments”), in each case that are consistent
with accepted market practice for the use of such Alternative Rate, all as determined and directed by the IFA; provided, however,
that the Calculation Agent shall not be required to implement any such Adjustments that affects its own rights, duties or immunities
under the Indenture, the Calculation Agency Agreement or otherwise. If the IFA determines that there is no such Alternative Rate
as provided above, LIBOR will be equal to the rate of interest in effect with respect to the immediately preceding Interest Determination
Date or, in the case of the initial Interest Determination Date, the rate of interest will be equal to the first Interest Rate.

 

The interest rate on the Securities will
in no event be higher than the maximum rate permitted by law.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

Subject to the immediately preceding paragraph,
the Securities are not subject to redemption.

 

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional amounts (“Additional Amounts”) as will
result in the receipt of such amounts as would have been received by the Holder had no such withholding or deduction been required,
provided that the Issuer will not have to pay Additional Amounts if:

 

(i)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

     

     

    

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)  the tax, levy, impost or other governmental charge is an estate, inheritance, gift, sale, transfer, personal property or similar
tax, levy, impost or other governmental charge;

 

(iv)  the tax, levy, impost or other governmental charge is payable in a manner that does not involve deduction or withholding from payments
on or in respect of this Security;

 

(v)  the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi) 
the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional Amounts
will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or a person
other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident for tax
purposes, that payment would be required for tax purposes to be included in income of a beneficiary or settlor with respect to
the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to the Additional Amounts had
that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

     

     

    

Any reference in the Indenture or this Security
to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that may be
payable with respect to such principal, premium or interest under the obligations referred to herein.

 

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

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

 

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

     

     

    

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $400,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

         

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

     

     

    

Exhibit C

 

 

 

 

 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

4.000% Notes due 2029

 

	No. 001	$500,000,000

 

CUSIP No. 046353AT5

ISIN No. US046353AT52

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Five Hundred Million Dollars on January 17, 2029 and to pay interest thereon from August 17, 2018 or from
the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually in
arrears on January 17 and July 17 in each year, commencing January 17, 2019 (each, an “Interest Payment Date”), at
the rate of 4.000% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (as defined
below) for such interest which shall be the 15th calendar day preceding such Interest Payment Date (whether or not such
day is a Business Day (as defined below)), as the case may be. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent record date (the “Special
Record Date”) for the payment of such defaulted interest to be fixed by the Trustee (which shall not be less than five Business
Days prior to the date of payment of such defaulted interest), notice whereof shall be given to Holders of Securities of this series
not less than 15 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this series may be listed, and upon such

 

     

     

    

notice as may be required by such exchange,
all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated: August 17, 2018

 

	ASTRAZENECA PLC
	 
	By:	/s/ Marc Dunoyer
	 	Name:Marc Dunoyer
	 	Title:Chief Financial Officer

	 

	By:	/s/ Adrian Kemp
	 	Name:Adrian Kemp
	 	Title:Company Secretary

 

	 

[Signature Page to Global Note]

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated:August 17, 2018

 

	The Bank of New York MELLON

As Trustee

 

	By:	L. O'Brien

 

 

	 

 
[Signature Page to Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$1,000,000,000.

 

The Securities of this series are subject
to redemption, as a whole or in part, from time to time, at the election of the Issuer, upon not less than 15 nor more than 30
days’ notice, as follows: (i) prior to October 17, 2028 (the “Par Call Date”), at a Redemption Price equal to
the greater of (A) 100% of the principal amount of the Securities to be redeemed, and (B) as determined by the Quotation Agent
(as defined below), the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming
for this purpose that such series of Notes matured on the Par Call Date and not including any portion of such payments of interest
accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 20 basis points, and (ii) on or after the Par Call Date, at a redemption price
equal to 100% of the principal amount of the Securities to be redeemed; plus, in each of cases (A) and (B) above, accrued interest
thereon to but excluding the date of redemption.

 

“Business Day” means any day which is not, in
London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities, a Saturday, a Sunday,
a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Securities
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of such Securities (assuming for this purpose
that such Securities matured on the Par Call Date).

 

     

     

    

“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation
Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.

 

“Quotation Agent” means the Reference Treasury
Dealer appointed by the Issuer.

 

“Reference Treasury Dealer” means (i) Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective
successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and
(ii) any other Primary Treasury Dealer selected by the Issuer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding
such redemption date.

 

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

 

     

     

    

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional amounts (“Additional Amounts”) as will
result in the receipt of such amounts as would have been received by the Holder had no such withholding or deduction been required,
provided that the Issuer will not have to pay Additional Amounts if:

 

(i)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)  the tax, levy, impost or other governmental
charge is an estate, inheritance, gift, sale, transfer, personal property or similar tax, levy, impost or other governmental charge;

 

     

     

    

(iv)  the tax, levy, impost or other governmental charge is payable in a manner that does not involve deduction or withholding from payments
on or in respect of this Security;

 

(v)   the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi) 
the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional
Amounts will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or
a person other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident
for tax purposes, that payment would be required for tax purposes to be included in income of a beneficiary or settlor with respect
to the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to the Additional Amounts
had that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

Any reference in the Indenture or this
Security to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that
may be payable with respect to such principal, premium or interest under the obligations referred to herein.

 

     

     

    

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

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

 

     

     

    

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $500,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

         

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

4.000% Notes due 2029

 

	No. 002	$500,000,000

 

CUSIP No. 046353AT5

ISIN No. US046353AT52

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Five Hundred Million Dollars on January 17, 2029 and to pay interest thereon from August 17, 2018 or from
the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually in
arrears on January 17 and July 17 in each year, commencing January 17, 2019 (each, an “Interest Payment Date”), at
the rate of 4.000% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (as defined
below) for such interest which shall be the 15th calendar day preceding such Interest Payment Date (whether or not such
day is a Business Day (as defined below)), as the case may be. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent record date (the “Special
Record Date”) for the payment of such defaulted interest to be fixed by the Trustee (which shall not be less than five Business
Days prior to the date of payment of such defaulted interest), notice whereof shall be given to Holders of Securities of this series
not less than 15 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this series may be listed, and upon such

 

     

     

    

notice as may be required by such exchange,
all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated:August 17, 2018

 

	ASTRAZENECA PLC	 
	 	 
	By:	/s/ Marc Dunoyer	 
	 	Name:Marc Dunoyer
	 	Title:Chief Financial Officer	 

	 

	By:	/s/ Adrian Kemp	 
	 	Name:Adrian Kemp
	 	Title:Company Secretary
	 	 

	 

 

[Signature Page to Global Note]

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated: August 17, 2018

 

 

	The Bank of New York MELLON

As Trustee

 

	By:	L. O'Brien	 

 

	 

[Signature Page to Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$1,000,000,000.

 

The Securities of this series are subject
to redemption, as a whole or in part, from time to time, at the election of the Issuer, upon not less than 15 nor more than 30
days’ notice, as follows: (i) prior to October 17, 2028 (the “Par Call Date”), at a Redemption Price equal to
the greater of (A) 100% of the principal amount of the Securities to be redeemed, and (B) as determined by the Quotation Agent
(as defined below), the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming
for this purpose that such series of Notes matured on the Par Call Date and not including any portion of such payments of interest
accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 20 basis points, and (ii) on or after the Par Call Date, at a redemption price
equal to 100% of the principal amount of the Securities to be redeemed; plus, in each of cases (A) and (B) above, accrued interest
thereon to but excluding the date of redemption.

 

“Business Day” means any day which is not, in
London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities, a Saturday, a Sunday,
a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Securities
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of such Securities (assuming for this purpose
that such Securities matured on the Par Call Date).

 

“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation
Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.

 

“Quotation Agent” means the Reference Treasury
Dealer appointed by the Issuer.

 

     

     

    

“Reference Treasury Dealer” means (i) Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective
successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and
(ii) any other Primary Treasury Dealer selected by the Issuer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding
such redemption date.

 

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

 

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional

 

     

     

    

amounts (“Additional Amounts”)
as will result in the receipt of such amounts as would have been received by the Holder had no such withholding or deduction been
required, provided that the Issuer will not have to pay Additional Amounts if:

 

(i)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)  the tax, levy, impost or other governmental
charge is an estate, inheritance, gift, sale, transfer, personal property or similar tax, levy, impost or other governmental charge;

 

(iv)  the tax, levy, impost or other governmental charge is payable in a manner that does not involve deduction or withholding from payments
on or in respect of this Security;

 

(v)   the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi)  the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional
Amounts will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or
a person other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident
for tax purposes, that payment would be required for tax purposes to be included in

 

     

     

    

income of a beneficiary or settlor with
respect to the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to the Additional
Amounts had that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

Any reference in the Indenture or this
Security to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that
may be payable with respect to such principal, premium or interest under the obligations referred to herein.

 

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

     

     

    

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

 

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $500,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

         

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

     

     

    

Exhibit D

 

 

 

 

 

 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

4.375% Notes due 2048

 

	No. 001	$500,000,000

 

CUSIP No. 046353AU2

ISIN No. US046353AU26

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Five Hundred Million Dollars on August 17, 2048 and to pay interest thereon from August 17, 2018 or from the
most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually in arrears
on February 17 and August 17 in each year, commencing February 17, 2019 (each, an “Interest Payment Date”), at the
rate of 4.375% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (as defined
below) for such interest which shall be the 15th calendar day preceding such Interest Payment Date (whether or not such
day is a Business Day (as defined below)), as the case may be. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent record date (the “Special
Record Date”) for the payment of such defaulted interest to be fixed by the Trustee (which shall not be less than five Business
Days prior to the date of payment of such defaulted interest), notice whereof shall be given to Holders of Securities of this series
not less than 15 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this series may

 

     

     

    

be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated: August 17, 2018

 

	ASTRAZENECA PLC
	 
	By:	/s/ Marc Dunoyer
	 	Name: Marc Dunoyer
	 	Title:   Chief Financial Officer

	 

	By:	/s/ Adrian Kemp
	 	Name: Adrian Kemp
	 	Title:  Company Secretary

 

 

	 

 

 

[Signature Page to Global Note]

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated: August 17, 2018

 

	The Bank of New York MELLON

As Trustee

  

	By:	L. O'Brien

 

 

	 

[Signature Page to Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$ 750,000,000.

 

The Securities of this series are subject
to redemption, as a whole or in part, from time to time, at the election of the Issuer, upon not less than 15 nor more than 30
days’ notice, as follows: (i) prior to February 17, 2048 (the “Par Call Date”), at a Redemption Price equal to
the greater of (A) 100% of the principal amount of the Securities to be redeemed, and (B) as determined by the Quotation Agent
(as defined below), the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming
for this purpose that such series of Notes matured on the Par Call Date and not including any portion of such payments of interest
accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 25 basis points, and (ii) on or after the Par Call Date, at a redemption price
equal to 100% of the principal amount of the Securities to be redeemed; plus, in each of cases (A) and (B) above, accrued interest
thereon to but excluding the date of redemption.

 

“Business Day” means any day which is not, in
London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities, a Saturday, a Sunday,
a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Securities
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of such Securities (assuming for this purpose
that such Securities matured on the Par Call Date).

 

     

     

    

“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation
Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.

 

“Quotation Agent” means the Reference Treasury
Dealer appointed by the Issuer.

 

“Reference Treasury Dealer” means (i) Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective
successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and
(ii) any other Primary Treasury Dealer selected by the Issuer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding
such redemption date.

 

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

 

     

     

    

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional amounts (“Additional Amounts”) as will
result in the receipt of such amounts as would have been received by the Holder had no such withholding or deduction been required,
provided that the Issuer will not have to pay Additional Amounts if:

 

(i)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)  the tax, levy, impost or other governmental
charge is an estate, inheritance, gift, sale, transfer, personal property or similar tax, levy, impost or other governmental charge;

 

     

     

    

(iv)  the tax, levy, impost or other governmental
charge is payable in a manner that does not involve deduction or withholding from payments on or in respect of this Security;

 

(v)   the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi) 
the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional
Amounts will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or
a person other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident
for tax purposes, that payment would be required for tax purposes to be included in income of a beneficiary or settlor with respect
to the fiduciary, a member of that partnership or a beneficial owner who would not have been entitled to the Additional Amounts
had that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

Any reference in the Indenture or this
Security to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that
may be payable with respect to such principal, premium or interest under the obligations referred to herein.

 

     

     

    

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

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

 

     

     

    

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $500,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

         

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

     

     

    

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

ASTRAZENECA PLC

 

4.375% Notes due 2048

 

	No. 002	$250,000,000

 

CUSIP No. 046353AU2

ISIN No. US046353AU26

 

ASTRAZENECA PLC, a public limited company
incorporated under the laws of England and Wales (herein called the “Issuer”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of Two Hundred And Fifty Million Dollars on August 17, 2048 and to pay interest thereon from August 17, 2018
or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually
in arrears on February 17 and August 17 in each year, commencing February 17, 2019 (each, an “Interest Payment Date”),
at the rate of 4.375% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
(as defined below) for such interest which shall be the 15th calendar day preceding such Interest Payment Date (whether
or not such day is a Business Day (as defined below)), as the case may be. Any such interest not so punctually paid or duly provided
for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on a subsequent record date (the
“Special Record Date”) for the payment of such defaulted interest to be fixed by the Trustee (which shall not be less
than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be given to Holders of Securities
of this series not less than 15 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of this series may

 

     

     

    

be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Issuer maintained for that purpose in
New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

Unless the certificate of authentication
hereon has been executed by the Trustee by manual signature of an authorized signatory, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

     

     

    

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed manually or in facsimile.

 

Dated: August 17, 2018

 

	ASTRAZENECA PLC
	 
	By:	/s/ Marc Dunoyer
	 	Name:Marc Dunoyer
	 	Title:Chief Financial Officer

 

	By:	/s/ Adrian Kemp
	 	Name:Adrian Kemp
	 	Title:Company Secretary

 

 

 

	 

 

 

[Signature Page to Global Note]

 

     

     

    

This is one of the Securities of the series
designated herein and referred to in the within-mentioned Indenture.

 

Dated: August 17, 2018

 

	The Bank of New York MELLON

As Trustee

 

	By:	L. O'Brien

 

	 

[Signature Page to Global Note]

 

     

     

    

This Security is one of a duly authorized
issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of April 1, 2004 (herein called the “Indenture” which term shall have the meaning assigned to
it in such instrument), among the Issuer and The Bank of New York Mellon (formerly known as The Bank of New York), as successor
Trustee (herein called the “Trustee”, which term includes any other successor trustee under the Indenture) to JPMorgan
Chase Bank, and reference is hereby made to the Indenture and to the Officers’ Certificate delivered pursuant to Section
2.08 of the Indenture with respect to this security for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited
in aggregate principal amount to U.S.$ 750,000,000.

 

The Securities of this series are subject
to redemption, as a whole or in part, from time to time, at the election of the Issuer, upon not less than 15 nor more than 30
days’ notice, as follows: (i) prior to February 17, 2048 (the “Par Call Date”), at a Redemption Price equal to
the greater of (A) 100% of the principal amount of the Securities to be redeemed, and (B) as determined by the Quotation Agent
(as defined below), the sum of the present values of the remaining scheduled payments of principal and interest thereon (assuming
for this purpose that such series of Notes matured on the Par Call Date and not including any portion of such payments of interest
accrued as of the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 25 basis points, and (ii) on or after the Par Call Date, at a redemption price
equal to 100% of the principal amount of the Securities to be redeemed; plus, in each of cases (A) and (B) above, accrued interest
thereon to but excluding the date of redemption.

 

“Business Day” means any day which is not, in
London, England or New York, New York, or the place of payment of amounts payable in respect of the Securities, a Saturday, a Sunday,
a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to close.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Securities
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of such Securities (assuming for this purpose
that such Securities matured on the Par Call Date).

 

“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average, as determined by the Quotation Agent, of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation
Agent obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations.

 

“Quotation Agent” means the Reference Treasury
Dealer appointed by the Issuer.

 

     

     

    

“Reference Treasury Dealer” means (i) Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective
successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and
(ii) any other Primary Treasury Dealer selected by the Issuer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding
such redemption date.

 

“Treasury Rate” means, with respect to any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date.

 

The Indenture contains provisions to the
effect that, in the event of various tax law changes and other limited circumstances that require the Issuer to pay Additional
Amounts (as defined below), the Issuer may redeem the Securities of a series, in whole but not in part, at a price equal to 100%
of the principal amount of the Securities plus accrued interest thereon to but excluding the date of redemption, which provisions
apply to this Security.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

 

The Indenture contains provisions for defeasance
at any time of the entire indebtedness on this Security upon compliance by the Issuer with certain conditions set forth thereon,
which provisions apply to this Security.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

 

Any amounts to be paid by the Issuer under
this Security of principal, premium and interest in respect of this Security will be paid without deduction or withholding for,
any and all present and future taxes, levies, duties, assessments, imposts or other governmental charges of whatever nature imposed,
assessed, levied or collected by or for the account of the government of any jurisdiction in which the Issuer is resident for tax
purposes or any political subdivision or taxing authority of such jurisdiction, unless such withholding or deduction is required
by law. If such deduction or withholding is at any time required, the Issuer will (subject to compliance by the Holder of this
Security with any relevant administrative requirements) pay such additional amounts (“Additional Amounts”) as will
result in the receipt of such amounts as would have

 

     

     

    

been received by the Holder had no such
withholding or deduction been required, provided that the Issuer will not have to pay Additional Amounts if:

 

(i)    the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for the Holder’s
(or certain related parties’) connection to the jurisdiction in which the Issuer is resident for tax purposes, other than
by merely holding this Security or by receiving principal, premium, if any, or interest, if any, on this Security, or enforcing
this Security. These connections include where the Holder or related party:

 

		·	is or has been a domiciliary, national or resident of such jurisdiction;

 

		·	is or has been engaged in a trade or business in such jurisdiction;

 

		·	has or had a permanent establishment in such jurisdiction; or

 

		·	is or has been physically present in such jurisdiction;

 

(ii)   the
tax, levy, impost or other governmental charge would not have been imposed, assessed, levied or collected but for presentation
of this Security for payment, if presentation is required, more than 30 days after this Security became due or payment was provided
for;

 

(iii)  the tax, levy, impost or other governmental charge is an estate, inheritance, gift, sale, transfer, personal property or similar
tax, levy, impost or other governmental charge;

 

(iv) 
the tax, levy, impost or other governmental charge is payable in a manner that does not involve deduction or withholding from payments
on or in respect of this Security;

 

(v)   the
tax, levy, impost or other governmental charge would not have been imposed or withheld but for the failure of the Holder or beneficial
owner, upon a reasonable request, addressed to the Holder, to comply with any certification, identification or other reporting
requirement concerning the Holder’s or the beneficial owner’s nationality, residence, identity or connection with any
jurisdiction in which the Issuer is resident for tax purposes, if compliance is required by any treaty, statute, regulation or
administrative practice of such jurisdiction as a condition to relief or exemption from such tax, levy, impost or other governmental
charge;

 

(vi)  the tax, levy, impost or other governmental charge is required by Sections 1471 through 1474 of the Internal Revenue Code of 1986,
as amended (“FATCA”), any current or future U.S. Treasury Regulations or rulings promulgated thereunder, any intergovernmental
agreement between the United States and any other jurisdiction to implement FATCA (an “IGA”), any law, regulation or
other official guidance enacted in any jurisdiction implementing FATCA or an IGA, or any agreement with the U.S. Internal Revenue
Service under or with respect to FATCA; or

 

(vii) any combination of the taxes referred
to in (i) through (vi) above.

 

In addition, no payments of Additional
Amounts will be made with respect to any payment on this Security if the Holder of this Security is a fiduciary, partnership or
a person other than the sole beneficial owner of any payment, and, by the laws of the jurisdiction in which the Issuer is resident
for tax purposes, that payment would be required for tax purposes to be included in income of a beneficiary or settlor with respect
to the fiduciary, a member of that partnership or a

 

     

     

    

beneficial owner who would not have been
entitled to the Additional Amounts had that beneficiary, settlor, partner or member owner been the Holder of this Security.

 

The Issuer will remit the full amount of
any taxes withheld to the applicable taxing authorities in accordance with the applicable law. The Issuer will also provide the
Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of any taxes in respect of which the Issuer
has paid Additional Amounts. The Issuer will provide copies of such documentation to the Holder of this Security upon request.

 

Any reference in the Indenture or this
Security to principal, premium or interest in respect of this Security will be deemed also to refer to any Additional Amounts that
may be payable with respect to such principal, premium or interest under the obligations referred to herein.

 

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

 

As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture, this Security or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount
of the Outstanding Securities of this series shall have made written request, and offered reasonable indemnity, to the Trustee
to institute such proceeding as trustee, and the Trustee shall not have received from the Holders of a majority in principal of
the Outstanding Securities of this series a direction inconsistent with such request and shall have failed to institute such proceeding
within 60 days; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for
the enforcement of payment of the principal (and premium, if any) or any interest on this Security on or after the respective due
dates expressed herein.

 

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

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

     

     

    

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

 

Prior to due presentation of this Security
for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither of
the Issuer nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

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

 

Unless otherwise defined herein, all terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

     

     

    

SCHEDULE OF PRINCIPAL AMOUNT

 

The initial principal amount of this Security
shall be $250,000,000. The following decreases/increases in the principal amount of this Security have been made:

 

	
        Date
        of Decrease/Increase

         
	
        Decrease
        in Principal Amount

         
	
        Increase
        in Principal Amount

         
	
        Total
        Principal Amount Following such Decrease/Increase

         
	
        Notation
        Made by or on Behalf of Trustee

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