Document:

Exhibit

NEXTERA ENERGY CAPITAL HOLDINGS, INC.
NEXTERA ENERGY, INC.
OFFICER’S CERTIFICATE
Creating the Series L Junior Subordinated Debentures due September 29, 2057
Aldo Portales, Assistant Treasurer of NextEra Energy Capital Holdings, Inc. (the “Company”), and Aldo Portales, Assistant Treasurer of NextEra Energy, Inc. (the “Guarantor”), pursuant to the authority granted in the accompanying Board Resolutions (all capitalized terms used herein which are not defined herein or in Exhibit A hereto, but which are defined in the Indenture referred to below, shall have the meanings specified in the Indenture), and pursuant to Sections 201 and 301 of the Indenture, do hereby certify to The Bank of New York Mellon (the “Trustee”), as Trustee under the Indenture (For Unsecured Subordinated Debt Securities) dated as of September 1, 2006 among the Company, the Guarantor and the Trustee, as amended (the “Indenture”), that:
		
	1.   
	The securities to be issued under the Indenture in accordance with this certificate shall be designated “Series L Junior Subordinated Debentures due September 29, 2057” (referred to herein as the “Debentures of the Twelfth Series”) and shall be issued in substantially the form set forth in Exhibit A hereto.

		
	2.   
	The Debentures of the Twelfth Series shall be issued by the Company in the initial aggregate principal amount of $755,000,000.  Additional Debentures of the Twelfth Series, without limitation as to amount, having substantially the same terms as the Outstanding Debentures of the Twelfth Series (except for the payment of interest accruing prior to the issue date of the additional Debentures of the Twelfth Series or except for the first payment of interest following the issue date of the additional Debentures of the Twelfth Series) may also be issued by the Company pursuant to the Indenture without the consent of the Holders of the then‐Outstanding Debentures of the Twelfth Series.  Any such additional Debentures of the Twelfth Series as may be issued pursuant to the Indenture from time to time shall be part of the same series as the then‐Outstanding Debentures of the Twelfth Series.

		
	3.   
	The Debentures of the Twelfth Series shall mature and the principal shall be due and payable, together with all accrued and unpaid interest thereon, on the Stated Maturity Date.  The “Stated Maturity Date” means September 29, 2057.

		
	4.   
	The Debentures of the Twelfth Series will bear interest at the rate of 5.11% per annum, compounded semi-annually, payable (subject to the provisions contained in paragraph 9 below) semi-annually in arrears on March 29 and September 29 of each year (each, an “Interest Payment Date”), commencing March 29, 2018, to the Persons in whose names the Debentures of the Twelfth Series are registered, subject to exceptions as provided in the form set forth in Exhibit A hereto, at the close of business on the Regular Record Date immediately preceding such Interest Payment Date.

The amount of interest payable for any period will be computed on the basis of a 360-day year consisting of twelve 30-day months (and for any period shorter than a full semi-annual period, on the basis of the actual number of days elapsed during such period using 30-day calendar months).  If an Interest Payment Date, a Redemption Date or the Stated Maturity Date of the Debentures of the Twelfth Series falls on a day that is not a Business Day, the payment of interest and principal will be made on the next succeeding Business Day, and no interest on such payment will accrue for the period from and after the Interest Payment Date, the Redemption Date or the Stated Maturity Date, as applicable.

		
	5.   
	Registration of the Debentures of the Twelfth Series, and registration of transfers and exchanges in respect of the Debentures of the Twelfth Series, may be effectuated at the office or agency of the Company in New York City, New York.  Notices and demands to or upon the Company in respect of the Debentures of the Twelfth Series may be served at the office or agency of the Company in New York City, New York.  The Corporate Trust Office of the Trustee will initially be the agency of the Company for such payment, registration, registration of transfers and exchanges and service of notices and demands, and the Company hereby appoints the Trustee as its agent for all such purposes; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such office or agency and such agent.  The Trustee will initially be the Security Registrar and the Paying Agent for the Debentures of the Twelfth Series.

		
	6.   
	The Debentures of the Twelfth Series will be redeemable at the option of the Company prior to the Stated Maturity Date as provided in the form set forth in Exhibit A hereto.

		
	7.   
	So long as all of the Debentures of the Twelfth Series are held by a securities depository in book‐entry form, the Regular Record Date for the interest payable on any given Interest Payment Date with respect to the Debentures of the Twelfth Series shall be the close of business on the Business Day immediately preceding such Interest Payment Date; provided, however, that if any of the Debentures of the Twelfth Series are not held by a securities depository in book‐entry form, the Regular Record Date will be the close of business on the fifteenth (15th) calendar day immediately preceding such Interest Payment Date.

		
	8.   
	So long as any Debentures of the Twelfth Series are Outstanding, the failure of the Company to pay interest, including Additional Interest (as defined below), if any, on any Debentures of the Twelfth Series within thirty (30) days after the same becomes due and payable (whether or not payment is prohibited by the subordination provisions of Article Fourteen and Article Fifteen of the Indenture) shall constitute an Event of Default; provided, however, that a valid deferral of the interest payments by the Company as contemplated in Section 312 of the Indenture and paragraph 9 of this certificate shall not constitute a failure to pay interest for this purpose.

		
	9.   
	Pursuant to Section 312 of the Indenture, so long as no Event of Default under the Indenture has occurred and is continuing with respect to the Securities of any series, the Company shall have the right, at any time and from time to time during the term of the Debentures of the Twelfth Series, to defer the payment of interest for a period not exceeding ten (10) consecutive years (each period, commencing on the date that the first such payment would otherwise be made, an “Optional Deferral Period”); provided that no Optional Deferral Period shall extend beyond the Stated Maturity Date or end on a day other than an Interest Payment Date.  During the Optional Deferral Period, interest (calculated for each Interest Period (as defined below) in the manner provided for in Exhibit A hereto, as if the interest payment had not been so deferred) will be compounded semi-annually.  Any deferred interest on the Debentures of the Twelfth Series during an Optional Deferral Period will accrue additional interest, compounded semi-annually, at a rate equal to the interest rate borne by the Debentures of the Twelfth Series, to the extent permitted by applicable law (“Additional Interest”).  At the end of the Optional Deferral Period, which shall be an Interest Payment Date, the Company shall pay all interest accrued and unpaid thereon, including Additional Interest accrued on the deferred interest, to the Person in whose name the Debentures of the Twelfth Series are registered at the close of business on the Regular Record Date for the Interest Payment Date on which such Optional Deferral Period ended; provided that any such accrued and unpaid interest payable on the Stated Maturity Date or any Redemption Date will be paid to the Person to whom principal is payable.  With respect to the Debentures of the Twelfth Series, the term “Interest Period” shall mean each period from, and including, an Interest Payment Date to but excluding the next succeeding Interest Payment Date, except that the first Interest Period shall commence on the date of original issuance.  During any such Optional 

Deferral Period, neither the Guarantor nor the Company will, and each will cause their majority‐owned subsidiaries not to:
(A)    declare or pay any dividend or distribution on the Guarantor’s or the Company’s capital stock;
(B)    redeem, purchase, acquire or make a liquidation payment with respect to any of the Guarantor’s or the Company’s capital stock;
(C)    pay any principal, interest or premium on, or repay, repurchase or redeem any of the Guarantor’s or the Company’s debt securities that are equal or junior in right of payment to the Debentures of the Twelfth Series or the Guarantee (as the case may be); or
(D)    make any payments with respect to any Guarantor or Company guarantee of debt securities if such guarantee is equal or junior in right of payment to the Debentures of the Twelfth Series or the Guarantee (as the case may be).
Subject to the reservation of right to amend clause (f) below, as described in paragraph 17 hereof, the foregoing provisions shall not prevent or restrict the Guarantor or the Company from making:
(a)    purchases, redemptions or other acquisitions of its capital stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or agents or a stock purchase or dividend reinvestment plan, or the satisfaction of its obligations pursuant to any contract or security outstanding on the date that the payment of interest is deferred requiring it to purchase, redeem or acquire its capital stock;
(b)    any payment, repayment, redemption, purchase, acquisition or declaration of dividend described in clauses (A) and (B) above as a result of a reclassification of its capital stock, or the exchange or conversion of all or a portion of one class or series of its capital stock for another class or series of its capital stock;
(c)    the purchase of fractional interests in shares of its capital stock pursuant to the conversion or exchange provisions of its capital stock or the security being converted or exchanged, or in connection with the settlement of stock purchase contracts;
(d)    dividends or distributions paid or made in its capital stock (or rights to acquire its capital stock), or repurchases, redemptions or acquisitions of capital stock in connection with the issuance or exchange of capital stock (or of securities convertible into or exchangeable for shares of its capital stock) and distributions in connection with the settlement of stock purchase contracts;
(e)    redemptions, exchanges or repurchases of, or with respect to, any rights outstanding under a shareholder rights plan or the declaration or payment thereunder of a dividend or distribution of or with respect to rights in the future;
(f)    payments under any preferred trust securities guarantee or guarantee of subordinated debentures executed and delivered by the Guarantor concurrently with the issuance by a trust of any preferred trust securities, so long as the amount of payments made on any preferred trust securities or subordinated debentures (as the case may be) is paid on all preferred trust securities or subordinated debentures (as the case may be) then outstanding on a pro rata basis in proportion to the full distributions to which each series of preferred trust securities or subordinated debentures (as the case may be) is then entitled;

(g)    payments under any guarantee of junior subordinated debentures executed and delivered by the Guarantor (including a Guarantee under the Indenture), so long as the amount of payments made on any junior subordinated debentures is paid on all junior subordinated debentures then outstanding on a pro rata basis in proportion to the full payment to which each series of junior subordinated debentures is then entitled;
(h)    dividends or distributions by the Company on its capital stock to the extent owned by the Guarantor; or
(i)    redemptions, purchases, acquisitions or liquidation payments by the Company with respect to its capital stock to the extent owned by the Guarantor.
Prior to the termination of any such Optional Deferral Period, the Company may further defer the payment of interest, provided that such Optional Deferral Period together with all such previous and further deferrals of interest payments shall not exceed ten (10) consecutive years at any one time or extend beyond the Stated Maturity Date of the Debentures of the Twelfth Series.  Upon the termination of any such Optional Deferral Period and the payment of all amounts then due, including interest on deferred interest payments, the Company may elect to begin a new Optional Deferral Period, subject to the above requirements.  No interest shall be due and payable during an Optional Deferral Period, except at the end thereof.  The Company will give the Trustee notice of its election of an Optional Deferral Period at least ten (10) days and not more than sixty (60) days before the applicable Interest Payment Date.  The Trustee will promptly forward notice of such election to each Holder of record of the Debentures of the Twelfth Series.
		
	10.   
	If the Company shall make any deposit of money and/or Eligible Obligations with respect to any Debentures of the Twelfth Series, or any portion of the principal amount thereof, as contemplated by Section 701 of the Indenture, the Company shall not deliver an Officer’s Certificate described in clause (z) in the first paragraph of said Section 701 unless the Company shall also deliver to the Trustee, together with such Officer’s Certificate, either:

(A)    an instrument wherein the Company, notwithstanding the satisfaction and discharge of its indebtedness in respect of the Debentures of the Twelfth Series, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee or Paying Agent such additional sums of money, if any, or additional Eligible Obligations (meeting the requirements of said Section 701), if any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or Eligible Obligations theretofore so deposited, to pay when due the principal of and premium, if any, and interest due and to become due on such Debentures of the Twelfth Series or portions thereof, all in accordance with and subject to the provisions of said Section 701; provided, however, that such instrument may state that the obligation of the Company to make additional deposits as aforesaid shall be subject to the delivery to the Company by the Trustee of a notice asserting the deficiency accompanied by an opinion of an independent public accountant of nationally recognized standing, selected by the Trustee, showing the calculation thereof; or
(B)    an Opinion of Counsel to the effect that, as a result of (i) the receipt by the Company from, or the publication by, the Internal Revenue Service of a ruling or (ii) a change in law occurring after the date of this certificate, the Holders of such Debentures of the Twelfth Series, or the applicable portion of the principal amount thereof, will not recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will be subject to United States federal income tax on the same amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effectuated.

		
	11.   
	The Debentures of the Twelfth Series will be initially issued in global form (the “Global Debentures”) registered in the name of Cede & Co., as registered owner and as nominee for The Depository Trust Company (“DTC”).  Each Debenture of the Twelfth Series in global form shall bear the depository legend in substantially the form set forth in Exhibit A hereto.  The Debentures of the Twelfth Series will be initially issued pursuant to an exemption or exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).  Each such Debenture of the Twelfth Series, whether in a global form or in a certificated form, shall bear the non-registration legend or the Regulation S legend, as applicable, in substantially the form set forth in Exhibit A hereto (including, if applicable, the agreements of each Holder of such Debenture of the Twelfth Series set forth therein).  Nothing in the Indenture, the Debentures of the Twelfth Series or this Certificate shall be construed to require the Company to register any Debentures of the Twelfth Series under the Securities Act, or the Company or the Trustee to make any transfer of such Debentures of the Twelfth Series in violation of applicable law.

		
	12.   
	Beneficial interests in the Debentures of the Twelfth Series offered and sold to qualified institutional buyers (as defined in Rule 144A under the Securities Act (“Rule 144A”)) in reliance upon Rule 144A will be represented by one or more separate Global Debentures (each, a “Rule 144A Global Debenture”) registered in the name of Cede & Co., as registered owner and as nominee for DTC and shall include the non-registration legend set forth in Exhibit A hereto.  Initially, beneficial interests in the Debentures of the Twelfth Series offered and sold to purchasers pursuant to Regulation S under the Securities Act (“Regulation S”) will be evidenced by one or more separate Global Debentures (each, a “Regulation S Global Debenture”) and will be registered in the name of Cede & Co., as registered owner and as nominee for DTC for the accounts of the Euroclear System (“Euroclear”) or Clearstream Banking, société anonyme (“Clearstream”), and shall include the Regulation S legend set forth in Exhibit A hereto.

		
	13.   
	Transfers of beneficial interests in a Rule 144A Global Debenture will be subject to the restrictions on transfer contained in the non-registration legend set forth in Exhibit A hereto.  Prior to the expiration of the period of 40 days beginning on and including the later of (x) the day on which the offering of the Debentures of the Twelfth Series commences and (y) the original issue date of the Debentures of the Twelfth Series, transfers of beneficial interests in a Regulation S Global Debenture will be subject to the restrictions on transfer contained in the Regulation S legend set forth in Exhibit A hereto.

		
	14.   
	In connection with any transfer of Debentures of the Twelfth Series, the Trustee and the Company shall be under no duty to inquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon the certificates of transfer (in substantially the form set forth in Exhibit A hereto for use in connection with the transfer of beneficial interests between a Rule 144A Global Debenture and a Regulation S Global Debenture, or otherwise) received from the Holders and any transferees of any Debentures of the Twelfth Series regarding the validity, legality and due authorization of any such transfer, the eligibility of the transferee to receive such Debentures and any other facts and circumstances related to such transfer.  Transfers of beneficial interests between a Rule 144A Global Debenture and a Regulation S Global Debenture, and other transfers relating to beneficial interests in the Global Debentures, shall be reflected by endorsements of the Trustee, as custodian for DTC, on the schedules attached to such Rule 144A Global Debenture and Regulation S Global Debenture.  Neither the Company nor the Trustee shall have any liability for any acts or omissions of any depositary, for any depositary records of beneficial interests, for any transactions between the depositary, any participant member of the depositary and/or beneficial owner of any interest in any Debentures of the Twelfth Series, for any transfers of beneficial interests in the Debentures of the Twelfth Series, or in respect of any transfers effected by the depositary or by any participant member of the depositary or any 

beneficial owner of any interest in any Debentures of the Twelfth Series held through any such participant member of the depositary.
		
	15.   
	No service charge shall be made for the registration of transfer or exchange of the Debentures of the Twelfth Series; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with such transfer or exchange.

		
	16.   
	The Company reserves the right to require legends on Debentures of the Twelfth Series as it may determine are necessary to ensure compliance with the securities laws of the United States and the states therein and any other applicable laws.

		
	17.   
	The Company has previously reserved the right, without any consent, vote or other action by Holders of the Debentures of the Twelfth Series, or of any other series of Securities issued after October 1, 2006, to amend the Indenture as follows:

To amend clause (6) of the second paragraph of Section 608 of the Indenture to read as follows:
“(6) payments under any preferred trust securities, subordinated debentures or junior subordinated debentures, or any guarantee thereof, executed and delivered by the Guarantor, the Company or any of their majority‐owned subsidiaries, in each case that rank equal in right of payment to the series of Securities with respect to which the Company has elected to defer the payment of interest, or the related guarantee (as the case may be), so long as the amount of payments made on account of such securities or guarantees is paid on all such securities and guarantees then outstanding on a pro rata basis in proportion to the full payment to which each series of such securities and guarantees is then entitled if paid in full;”
		
	18.   
	The Company reserves the right, without any consent, vote or other action by Holders of the Debentures of the Twelfth Series, or of any other series of Securities issued after October 1, 2006, to amend this Officer’s Certificate as follows:

To amend clause (f) of paragraph 9 of this Officer’s Certificate and clause (f) of the corresponding paragraph in the form of the Debentures of the Twelfth Series set forth in Exhibit A hereto to read as follows:
“(f) payments under any preferred trust securities, subordinated debentures or junior subordinated debentures, or any guarantee thereof, executed and delivered by the Guarantor, the Company or any of their majority‐owned subsidiaries, in each case that rank equal in right of payment to the Debentures of the Twelfth Series or the related guarantee (as the case may be), so long as the amount of payments made on account of such securities or guarantees is paid on all such securities and guarantees then outstanding on a pro rata basis in proportion to the full payment to which each series of such securities and guarantees is then entitled if paid in full;”
		
	19.   
	Notwithstanding the provisions of Section 802 of the Indenture, the principal of and accrued interest on the Debentures of the Twelfth Series shall not be declared immediately due and payable by reason of the occurrence and continuation of an Event of Default specified in Section 801(c) of the Indenture applicable to the Debentures of the Twelfth Series, and any notice of declaration of acceleration based on such Event of Default shall be null and void with respect to the Debentures of the Twelfth Series.  The Debentures of the Twelfth Series will not be considered Outstanding for the purpose of determining whether the required vote described in Section 802 of the Indenture has been obtained for the declaration of acceleration by reason of the 

occurrence and continuation of an Event of Default specified in Section 801(c) of the Indenture applicable to the Debentures of the Twelfth Series.
		
	20.   
	Each of the Company and the Guarantor agrees, and by acceptance of the Debentures of the Twelfth Series, each Holder will be deemed to have agreed, to treat the Debentures of the Twelfth Series as indebtedness for United States federal, state and local tax purposes.

		
	21.   
	The Debentures of the Twelfth Series shall have such other terms and provisions as are provided in the form set forth in Exhibit A hereto.

		
	22.   
	The undersigned has read all of the covenants and conditions contained in the Indenture relating to the issuance of the Debentures of the Twelfth Series and the definitions in the Indenture relating thereto and in respect of which this certificate is made.

		
	23.   
	The statements contained in this certificate are based upon the familiarity of the undersigned with the Indenture, the documents accompanying this certificate, and upon discussions by the undersigned with officers and employees of the Company familiar with the matters set forth herein.

		
	24.   
	In the opinion of the undersigned, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenants and conditions have been complied with.

		
	25.   
	In the opinion of the undersigned, such conditions and covenants and conditions precedent, if any (including any covenants compliance with which constitutes a condition precedent), to the authentication and delivery of the Debentures of the Twelfth Series requested in the accompanying Company Order No. 12 and Guarantor Order No. 12, have been complied with.

IN WITNESS WHEREOF, I have executed this Officer’s Certificate on behalf of the Company this 29th day of September, 2017 in New York, New York.

/s/ Aldo Portales                    
Aldo Portales
Assistant Treasurer, NextEra Energy Capital Holdings, Inc.

IN WITNESS WHEREOF, I have executed this Officer’s Certificate on behalf of the Guarantor this 29th day of September, 2017 in New York, New York.

/s/ Aldo Portales                    
Aldo Portales
Assistant Treasurer, NextEra Energy, Inc.

Exhibit A
[depository legend]

[Unless this certificate is presented by an authorized representative of The Depository Trust Company, a limited purpose company organized under the New York Banking Law (“DTC”), to NextEra Energy Capital Holdings, Inc. or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.]

[non-registration legend]

[Neither this Debenture nor any beneficial interest herein has been registered under the Securities Act of 1933, as amended (the “Securities Act”).  Each holder hereof, and each owner of a beneficial interest herein, by purchasing this Debenture, agrees for the benefit of NextEra Energy Capital Holdings, Inc. (the “Company”) that this Debenture may not be resold, pledged or otherwise transferred prior to the date which is one year (or six months if all applicable conditions to such resale under Rule 144 under the Securities Act (or any successor provision thereof) are satisfied) after the later of the original issuance date thereof, the issuance date of any subsequent issuance of additional Debentures of the same series and the last date on which the Company or any affiliate thereof was the owner of this Debenture or the expiration of such shorter period as may be prescribed by such Rule 144 (or such successor provision) permitting resales of this Debenture without any conditions (the “Resale Restriction Termination Date”) other than (A)(1) to the Company or NextEra Energy, Inc., (2) in a transaction entitled to an exemption from registration provided by Rule 144 under the Securities Act, (3) so long as this Debenture is eligible for resale pursuant to Rule 144A under the Securities Act (“Rule 144A”), to a person whom the seller reasonably believes is a Qualified Institutional Buyer within the meaning of Rule 144A purchasing for its own account or for the account of a Qualified Institutional Buyer to whom notice is given that the resale, pledge or other transfer is being made in reliance on Rule 144A under the Securities Act (as indicated by the box checked by the transferor on the Certificate of Transfer attached to this Debenture), (4) in an offshore transaction in accordance with Rule 903 or 904 of Regulation S under the Securities Act (as indicated by the box checked by the transferor on the Certificate of Transfer attached to this Debenture), (5) in accordance with another applicable exemption from the registration requirements of the Securities Act (and based upon an opinion of counsel acceptable to the Company), or (6) pursuant to an effective registration statement under the Securities Act and (B) in each case in accordance with any applicable securities laws of any state of the United States.  The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date.  The holder hereof, by purchasing this Debenture, represents and agrees for the benefit of the Company that it is (i) a Qualified Institutional Buyer within the meaning of Rule 144A under the Securities Act or (ii) a non-U.S. person outside the United States within the meaning of, or an account satisfying the requirements of, paragraph (k)(2) of Rule 902 under Regulation S under the Securities Act.  The holder of this Debenture 

A-1

acknowledges that the Company reserves the right prior to any offer, sale or other transfer (1) pursuant to clause (A)(2) prior to the Resale Restriction Termination Date to require the delivery of an opinion of counsel, certifications or other information satisfactory to the Company and (2) in each of the foregoing cases, to require that a certificate as to compliance with certain conditions to transfer is  completed and delivered by the transferor to the Company.]

[Regulation S legend]

[The Debentures covered hereby have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (I) as part of their distribution at any time or (II) otherwise until 40 days after the later of the date of the commencement of the offering of the Debentures and the date of original issuance of the Debentures, except in either case in accordance with Regulation S or Rule 144A under the Securities Act or any other available exemption from registration under the Securities Act.  Terms used above have the meanings given to them by Regulation S.]
    
	
					
	No._______________
	 
	 
	 
	[CUSIP No. 65339K AU4]

	 
	 
	 
	 
	[CUSIP No. U65003 AB8]

[FORM OF FACE OF JUNIOR SUBORDINATED DEBENTURE]
NEXTERA ENERGY CAPITAL HOLDINGS, INC.
SERIES L JUNIOR SUBORDINATED DEBENTURES DUE SEPTEMBER 29, 2057
NEXTERA ENERGY CAPITAL HOLDINGS, INC., a corporation duly organized and existing under the laws of the State of Florida (herein referred to as the “Company”, which term includes any successor Person under the Indenture (as defined below)), for value received, hereby promises to pay to____________________, or registered assigns, the principal amount specified on Schedule I hereto on September 29, 2057 (the “Stated Maturity Date”).  The Company further promises (subject to deferral as set forth herein) to pay interest on the principal sum of this Series L Junior Subordinated Debenture due September 29, 2057 (this “Security”) to the registered Holder hereof at the rate of 5.11% per annum, in like coin or currency, semi-annually in arrears on March 29 and September 29 of each year (each an “Interest Payment Date”) until the principal hereof is paid or duly provided for, such interest payments to commence March 29, 2018.  Each interest payment shall include interest accrued from the most-recently preceding Interest Payment Date to which interest has either been paid or duly provided for (except that (i) the interest payment which is due on March 29, 2018 shall include interest that has accrued from September 29, 2017, and (ii) if this Security is authenticated during the period that (A) follows any particular Regular Record Date (as defined below) but (B) precedes the next occurring Interest Payment Date, then the registered Holder hereof shall not be entitled to receive any interest payment with respect to this Security on such next occurring Interest Payment Date).  The Company also promises to pay Additional Interest (as defined in the Officer’s Certificate) with respect to an Optional Deferral Period (as defined below) to the registered Holder of this Security, to the extent payment of such Additional Interest is enforceable under applicable law, as specified on the reverse of this Security.  No interest will accrue on the Securities of this series with respect to the day on which the Securities of this 

A-2

series mature.  In the event that any Interest Payment Date is not a Business Day, then payment of interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date.  The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture referred to on the reverse of this Security (the “Indenture”), be payable to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the “Regular Record Date” for such interest installment which shall be the close of business on the Business Day immediately preceding such Interest Payment Date so long as all of the Securities of this series are held by a securities depository in book-entry form; provided that if any of the Securities of this series are not held by a securities depository in book-entry form, the Regular Record Date will be the close of business on the fifteenth (15th) calendar day immediately preceding such Interest Payment Date; and provided further that interest payable on the Stated Maturity Date or any Redemption Date will be paid to the same Person to whom the associated principal is to be paid.  Any such interest not punctually paid or duly provided for will forthwith cease to be payable to the Person who is the Holder of this Security on such Regular Record Date and may be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date to be fixed by the Trustee for the payment of such Defaulted Interest, notice of which shall be given to Holders of Securities of this series not less than ten (10) days prior to such Special Record Date, or may 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 the Indenture.
Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in New York City, the State of New York 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 Company, interest on this Security may be paid by check mailed to the address of the Person entitled thereto, as such address shall appear on the Security Register or by a wire transfer to an account designated by the Person entitled thereto.  The amount of interest payable for any period will be computed on the basis of a 360‐day year consisting of twelve 30‐day months (and for any period shorter than a full semi-annual period, on the basis of the actual number of days elapsed during such period using 30‐day calendar months).
Reference is hereby made to the further provisions of this Security set forth on the reverse of this Security, which further provisions shall for all purposes have the same effect as if set forth at this place.  (All capitalized terms used in this Security which are not defined herein, including the reverse of this Security, but which are defined in the Indenture or in the Officer’s Certificate shall have the meanings specified in the Indenture or in the Officer’s Certificate.)
Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse of this Security by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed in New York, New York.
	
		
	NEXTERA ENERGY CAPITAL HOLDINGS, INC.

	By:
	 

A-3

[FORM OF CERTIFICATE OF AUTHENTICATION]
CERTIFICATE OF AUTHENTICATION
Dated:
This is one of the Securities of the series designated therein referred to in the within‐mentioned Indenture.
	
		
	THE BANK OF NEW YORK MELLON, as Trustee

	By:
	 

	 
	Authorized Signatory

A-4

[FORM OF GUARANTEE]
NEXTERA ENERGY, INC., a corporation organized under the laws of the State of Florida (the “Guarantor”, which term includes any successor under the Indenture (the “Indenture”) referred to in the Security upon which this Guarantee is endorsed), for value received, hereby unconditionally and irrevocably guarantees to the Holder of the Security upon which this Guarantee is endorsed, the due and punctual payment of the principal of, and premium, if any, and interest, including Additional Interest, if any, on such Security when and as the same shall become due and payable, whether on the Stated Maturity Date, by declaration of acceleration, call for redemption, or otherwise, in accordance with the terms of such Security and of the Indenture regardless of any defense, right of set‐off or counterclaim that the Guarantor may have (except the defense of payment).  In case of the failure of the Company punctually to make any such payment, the Guarantor hereby agrees to cause such payment to be made punctually when and as the same shall become due and payable, whether on the Stated Maturity Date or by declaration of acceleration, call for redemption or otherwise, and as if such payment were made by the Company.  The Guarantor’s obligation to make a guarantee payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holder of the Security or to a Paying Agent, or by causing the Company to pay such amount to such Holder or a Paying Agent.
The Guarantor hereby agrees that its payment obligations hereunder shall be absolute and unconditional irrespective of, and shall be unaffected by, any invalidity, irregularity or unenforceability of such Security or the Indenture, any failure to enforce the provisions of such Security or the Indenture, or any waiver, modification or indulgence granted to the Company with respect thereto (except that the Guarantor will have the benefit of any waiver, modification or indulgence granted to the Company in accordance with the Indenture), by the Holder of such Security or the Trustee or any other circumstance which may otherwise constitute a legal or equitable discharge or defense of a surety or guarantor; provided, however, that notwithstanding the foregoing, no such waiver, modification or indulgence shall, without the consent of the Guarantor, increase the principal amount of such Security, or increase the interest rate thereon (including Additional Interest, if any), or change any redemption provisions thereof (including any change to increase any premium payable upon redemption thereof) or change the Stated Maturity Date thereof.
The Guarantor hereby waives the benefits of diligence, presentment, demand for payment, any requirement that the Trustee or the Holder of such Security exhaust any right or take any action against the Company or any other Person, the filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to such Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged in respect of such Security except by complete performance of the payment obligations contained in such Security and in this Guarantee.  This Guarantee shall constitute a guaranty of payment and not of collection.  The Guarantor hereby agrees that, in the event of a default in payment of principal, or premium, if any, or interest, if any, on such Security, whether on the Stated Maturity Date, by declaration of acceleration, call for redemption, or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder of such Security, subject to the terms and conditions set forth in the Indenture, directly against the Guarantor to enforce this Guarantee without first proceeding against the Company.
The obligations of the Guarantor hereunder with respect to such Security shall be continuing and irrevocable until the date upon which the entire principal of, premium, if any, and interest, including Additional Interest, if any, on such Security has been, or has been deemed pursuant to the provisions of Article Seven of the Indenture to have been, paid in full or otherwise discharged.

A-5

The obligations evidenced by this Guarantee are, to the extent provided in the Indenture, subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness of the Guarantor, and this Guarantee is issued subject to the provisions of the Indenture with respect thereto.  Each Holder of a Security upon which this Guarantee is endorsed, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee his attorney‐in‐fact for any and all such purposes.  Each Holder hereof, by his acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such Holder upon said provisions.
The Guarantor shall be subrogated to all rights of the Holder of a Security upon which this Guarantee is endorsed against the Company in respect of any amounts paid by the Guarantor on account of such Security pursuant to the provisions of this Guarantee or the Indenture; provided, however, that the Guarantor shall not be entitled to enforce or to receive any payments arising out of, or based upon, such right of subrogation until the principal of, and premium, if any, and interest, if any, on all Securities issued under the Indenture which are then due and payable shall have been paid in full.
This Guarantee shall remain in full force and effect and continue notwithstanding any petition filed by or against the Company for liquidation or reorganization, the Company becoming insolvent or making an assignment for the benefit of creditors or a receiver or trustee being appointed for all or any significant part of the Company’s property and assets, and shall, to the fullest extent permitted by law, continue to be effective or reinstated, as the case may be, if at any time payment of the Security upon which this Guarantee is endorsed, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by the Holder of such Security, whether as a “voidable preference,” “fraudulent transfer,” or otherwise, all as though such payment or performance had not been made.  In the event that any such payment, or any part thereof, is rescinded, reduced, restored or returned on such Security, such Security shall, to the fullest extent permitted by law, be reinstated and deemed paid only by such amount paid and not so rescinded, reduced, restored or returned.
This Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication of the Security upon which this Guarantee is endorsed shall have been manually executed by or on behalf of the Trustee under the Indenture.
All terms used in this Guarantee which are defined in the Indenture shall have the meanings assigned to them in such Indenture.
This Guarantee shall be deemed to be a contract made under the laws of the State of New York, and for all purposes shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of law principles thereunder, except to the extent that the law of any other jurisdiction shall be mandatorily applicable.
IN WITNESS WHEREOF, the Guarantor has caused this instrument to be duly executed in New York, New York.
	
		
	NEXTERA ENERGY, INC.

	By:
	 

A-6

[FORM OF REVERSE OF SERIES L JUNIOR SUBORDINATED DEBENTURE
DUE SEPTEMBER 29, 2057]
This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”) issued and to be issued in one or more series under an Indenture (For Unsecured Subordinated Debt Securities), dated as of September 1, 2006 (herein, together with any amendments thereto, called the “Indenture”, which term shall have the meaning assigned to it in such instrument), among the Company, NextEra Energy, Inc. and The Bank of New York Mellon, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture, including the Board Resolutions and Officer’s Certificate filed with the Trustee on September 29, 2017, creating the series designated on the face hereof (herein called the “Officer’s Certificate”), for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities of this series and of the terms upon which the Securities of this series are, and are to be, authenticated and delivered.  This Security is one of the series designated on the face hereof.
In addition to the option of the Company to redeem the Securities of this series in connection with a Tax Event or a Rating Agency Event described below, this Security shall also be redeemable at the option of the Company in whole at any time, or in part from time to time, on or after September 29, 2022, upon notice (the “Redemption Notice”) mailed at least thirty (30) days but not more than sixty (60) days prior to the date fixed for redemption (the “Redemption Date”) at the price equal to the sum of (i) 100% of the principal amount thereof plus (ii) accrued and unpaid interest thereon, if any, including Additional Interest, if any, to but excluding the Redemption Date (the “Redemption Price”).
If at the time the Redemption Notice is given, the redemption moneys are not on deposit with the Trustee, then, if such notice so provides, the redemption shall be subject to the receipt of the redemption moneys on or before the Redemption Date and such Redemption Notice shall be of no force or effect unless such moneys are received.
Upon payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on the Securities of this series or portions thereof called for redemption.
If before September 29, 2022 a Tax Event (as defined below) shall occur and be continuing, the Company shall have the right to redeem this Security, in whole but not in part, at any time within ninety (90) days following the occurrence of the Tax Event, upon a Redemption Notice, at the price equal to the sum of (i) 100% of the principal amount thereof plus (ii) accrued and unpaid interest thereon, if any, including Additional Interest, if any, to the date fixed for redemption (the “Tax Event Redemption Date”).
“Tax Event” means the receipt by the Guarantor or the Company of an Opinion of Counsel experienced in such tax matters to the effect that, as a result of (a) any amendment to, clarification of, or change (including any announced prospective change) in the laws or treaties of the United States or any political subdivisions or taxing authorities, or any regulations under such laws or treaties, (b) any judicial decision or any official administrative pronouncement, ruling, regulatory procedure, notice or announcement (including any notice or announcement of intent to issue or adopt any such administrative pronouncement, ruling, regulatory procedure or regulation) (each, an “Administrative Action”), (c) any amendment to, clarification of, or change in the official position or the interpretation of any such Administrative Action or judicial decision or any interpretation or pronouncement that provides for a position with respect to such Administrative Action or judicial decision 

A-7

that differs from the theretofore generally accepted position, in each case by any legislative body, court, governmental authority or regulatory body, irrespective of the time or manner in which such amendment, clarification or change is introduced or made known, or (d) threatened challenge asserted in writing in connection with an audit of the Guarantor or the Company or any of their subsidiaries, or a publicly‐known threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are substantially similar to the Securities of this series, which amendment, clarification, or change is effective, or which Administrative Action is taken or which judicial decision, interpretation or pronouncement is issued or threatened challenge is asserted or becomes publicly‐known, in each case after September 20, 2017, there is more than an insubstantial risk that interest payable by the Company on this Security is not deductible, or within 90 days would not be deductible, in whole or in part, by the Company for United States Federal income tax purposes.
Before September 29, 2022, the Company shall have the right to redeem this Security in whole but not in part, upon a Redemption Notice given at any time within ninety (90) days after the conclusion of any review or appeal process instituted by the Company or the Guarantor following the occurrence of a Rating Agency Event (as defined below), at the price equal to the sum of (i) 102% of the principal amount thereof plus (ii) accrued and unpaid interest thereon, if any, including Additional Interest, if any, to the date fixed for redemption (“Rating Agency Event Redemption Date”).
“Rating Agency Event” means a change to the methodology or criteria that were employed by an applicable rating agency (as defined below) for purposes of assigning equity credit to securities such as the Securities of this series on the date of initial issuance of the Securities of this series (the “current methodology”), which reduces the amount of equity credit assigned to the Securities of this series by the applicable rating agency as compared with the amount of equity credit that such rating agency had assigned to the Securities of this series as of the date of initial issuance thereof.
The term “rating agency” means any nationally recognized statistical rating organization (within the meaning of Section 3(a)(62) of the Securities Exchange Act of 1934 and sometimes referred to in this Security as a “rating agency”), and the term “applicable rating agency” means any rating agency that (i)(a) published a rating for the Company or the Guarantor with respect to the initial issuance of the Securities of this series and (b) publishes a rating for the Company or the Guarantor at such time as a Rating Agency Event occurs, or (ii) any successor to a rating agency described in the preceding clause (i).
If at the time a Redemption Notice is given, the redemption moneys are not on deposit with the Trustee, then, if such notice so provides, the redemption shall be subject to the receipt of the redemption moneys on or before the Tax Event Redemption Date or Rating Agency Event Redemption Date, as the case may be, and such Redemption Notice shall be of no force or effect unless such moneys are received.
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 indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness of the Company, and this Security is issued subject to the provisions of the Indenture with respect thereto.  Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee his 

A-8

attorney‐in‐fact for any and all such purposes.  Each Holder hereof, by his acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such Holder upon said provisions.
The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security upon compliance with certain conditions set forth in the Indenture, including the Officer’s Certificate described above.
If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of and interest on the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture; provided however, that the principal of and interest on the Securities of this series shall not be declared due and payable by reason of the occurrence and continuation of an Event of Default specified in Section 801(c) of the Indenture applicable to the Securities of this series, and any notice of declaration of acceleration based on such Event of Default shall be null and void with respect to the Securities of this series.  The Securities of this series will not be considered Outstanding for the purpose of determining whether the required vote described in Section 802 of the Indenture has been obtained for the declaration of acceleration by reason of the occurrence and continuation of an Event of Default specified in Section 801(c) of the Indenture applicable to the Securities of this series.
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected by such amendment to the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be thus affected.  The Indenture also contains provisions permitting the Holders of specified percentages in principal 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 Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.  Any such consent or waiver by Holders of the specified percentages in principal amount of the Securities of this series shall be conclusive and binding upon all current and future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.
As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing a direction inconsistent with such request, and shall have failed to institute any such proceeding, for sixty (60) days after receipt of such notice, request and offer of indemnity.  The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

A-9

Each Holder shall be deemed to understand that the offer and sale of the Securities of this series have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and that the Securities of this series may not be offered or sold by the Holder except as permitted in the following sentence.  Each Holder shall be deemed to agree, on its own behalf and on behalf of any accounts for which it is acting as hereinafter stated, that if such Holder offers or sells any Securities of this series, such Holder will do so only (A) to the Company or the Guarantor, (B) in a transaction entitled to an exemption from registration provided by Rule 144 under the Securities Act, (C) so long as Securities of this Series are eligible for resale pursuant to Rule 144A under the Securities Act, to a person whom the seller reasonably believes is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act (“Rule 144A”) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that the resale, pledge or other transfer is being made in reliance on Rule 144A, (D) in an offshore transaction in accordance with Rule 903 or 904 of Regulation S under the Securities Act, (E) in accordance with another applicable exemption from the registration requirements of the Securities Act, or (F) pursuant to an effective registration statement under the Securities Act, and each Holder is further deemed to agree to provide to any person purchasing any of the Securities of this series from it a notice advising such purchaser that resales of the Securities of this series are restricted as stated herein.  Each Holder shall be deemed to understand that, on any proposed resale of any Securities of this series in accordance with the foregoing clause (E) any Holder making any such proposed resale will be required to furnish to the Trustee and Company such certifications, legal opinions and other information as the Trustee and Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions.

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed.
Pursuant to Section 312 of the Indenture, so long as no Event of Default under the Indenture has occurred and is continuing with respect to the Securities of any series, the Company shall have the right, at any time and from time to time during the term of the Securities of this series, to defer the payment of interest for a period not exceeding ten (10) consecutive years (each period, commencing on the date that the first such payment would otherwise be made, an “Optional Deferral Period”); provided that no Optional Deferral Period shall extend beyond the Stated Maturity Date or end on a day other than an Interest Payment Date.  During the Optional Deferral Period, interest (calculated for each Interest Period in the manner provided for on the face hereof, as if the interest payment had not been so deferred) will be compounded semi-annually at the rate of 5.11% per annum.  Any deferred interest on the Securities of this series during an Optional Deferral Period will accrue Additional Interest, compounded semi-annually, at a rate equal to the interest rate borne by the Securities of this series, to the extent permitted by applicable law.  At the end of the Optional Deferral Period, which shall be an Interest Payment Date, the Company shall pay all interest accrued and unpaid hereon, including Additional Interest accrued on the deferred interest, to the Person in whose name the Securities of this series are registered at the close of business on the Regular Record Date for the Interest Payment Date on which such Optional Deferral Period ended; provided that any such accrued and unpaid interest payable on the Stated Maturity Date or any Redemption Date will be paid to the Person to whom principal is payable.  During any such Optional Deferral Period, neither the Guarantor nor the Company will, and each will cause their majority‐owned subsidiaries not to, (i) declare or pay any dividend or distribution on the Guarantor’s or the Company’s capital stock, (ii) redeem, purchase, acquire or make a liquidation payment with respect to any of the Guarantor’s or the Company’s capital stock, (iii) pay any principal, interest or 

A-10

premium on, or repay, repurchase or redeem any of the Guarantor’s or the Company’s debt securities that are equal or junior in right of payment to the Securities of this series or the Guarantee (as the case may be), or (iv) make any payments with respect to any Guarantor or Company guarantee of debt securities if such guarantee is equal or junior in right of payment to the Securities of this series or the Guarantee (as the case may be).
Subject to the reservation of right to amend clause (f) below, as described in paragraph 15 of the Officer’s Certificate, the foregoing provisions shall not prevent or restrict the Guarantor or the Company from making:
(a)    purchases, redemptions or other acquisitions of its capital stock in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or agents or a stock purchase or dividend reinvestment plan, or the satisfaction of its obligations pursuant to any contract or security outstanding on the date that the payment of interest is deferred requiring it to purchase, redeem or acquire its capital stock;
(b)    any payment, repayment, redemption, purchase, acquisition or declaration of dividend described in clauses (i) and (ii) above as a result of a reclassification of its capital stock, or the exchange or conversion of all or a portion of one class or series of its capital stock for another class or series of its capital stock;
(c)    the purchase of fractional interests in shares of its capital stock pursuant to the conversion or exchange provisions of its capital stock or the security being converted or exchanged, or in connection with the settlement of stock purchase contracts;
(d)    dividends or distributions paid or made in its capital stock (or rights to acquire its capital stock), or repurchases, redemptions or acquisitions of capital stock in connection with the issuance or exchange of capital stock (or of securities convertible into or exchangeable for shares of its capital stock) and distributions in connection with the settlement of stock purchase contracts;
(e)    redemptions, exchanges or repurchases of, or with respect to, any rights outstanding under a shareholder rights plan or the declaration or payment thereunder of a dividend or distribution of or with respect to rights in the future;
(f)    payments under any preferred trust securities guarantee or guarantee of subordinated debentures executed and delivered by the Guarantor concurrently with the issuance by a trust of any preferred trust securities, so long as the amount of payments made on any preferred trust securities or subordinated debentures (as the case may be) is paid on all preferred trust securities or subordinated debentures (as the case may be) then outstanding on a pro rata basis in proportion to the full distributions to which each series of preferred trust securities or subordinated debentures (as the case may be) is then entitled;
(g)    payments under any guarantee of junior subordinated debentures, which guarantee is executed and delivered by the Guarantor (including a Guarantee under the Indenture), so long as the amount of payments made on any junior subordinated debentures is paid on all junior subordinated debentures then outstanding on a pro rata 

A-11

basis in proportion to the full payment to which each series of junior subordinated debentures is then entitled;
(h)    dividends or distributions by the Company on its capital stock to the extent owned by the Guarantor; or
(i)    redemptions, purchases, acquisitions or liquidation payments by the Company with respect to its capital stock to the extent owned by the Guarantor.
Prior to the termination of any such Optional Deferral Period, the Company may further defer the payment of interest, provided that such Optional Deferral Period together with all such previous and further deferrals of interest payments shall not exceed ten (10) consecutive years at any one time or extend beyond the Stated Maturity Date of the Securities of this series.  Upon the termination of any such Optional Deferral Period and the payment of all amounts then due, including interest on deferred interest payments, the Company may elect to begin a new Optional Deferral Period, subject to the above requirements.  No interest shall be due and payable during an Optional Deferral Period, except at the end thereof.  The Company will give the Trustee notice of its election of an Optional Deferral Period at least ten (10) days and not more than sixty (60) days before the applicable Interest Payment Date.  The Trustee will promptly forward notice of such election to each Holder of record of the Securities of this series.
The Securities of this series are issuable only in registered form without coupons in denominations of $200,000 and integral multiples of $1,000 in excess thereof.  As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor and of authorized denominations, as requested by the Holder surrendering the same.
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith.
The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary.
Each of the Company and the Guarantor has agreed, and by acceptance of this Security, the Holder will be deemed to have agreed, to treat this Security as indebtedness for United States federal, state and local tax purposes.

A-12

SCHEDULE I
[144A][REGULATION S] GLOBAL SECURITY
The initial amount of the Securities evidenced by this certificate is $___________.

CHANGES TO PRINCIPAL AMOUNT OF SECURITIES EVIDENCED BY THIS CERTIFICATE

	
					
	Date
	Amount of decrease in principal amount of this Security
	Amount of increase in principal amount of this Security
	Principal amount of this Security following such decrease or increase
	Signature of authorized signatory of Trustee or Security Registrar

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

A-13

[FORM OF CERTIFICATE OF TRANSFER IN GLOBAL SECURITY]
NEXTERA ENERGY CAPITAL HOLDINGS, INC.
Series L Junior Subordinated Debentures due September 29, 2057

FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto

_______________________________________________________________________________________
Please insert social security or other identifying number of assignee
identifying number of assignee

________________________________________________________________________________________
Name and address of assignee must be printed or typewritten 
$_______________ principal amount of beneficial interest in the referenced Security of NextEra Energy Capital Holdings, Inc. (the “Company”) and does hereby irrevocably constitute and appoint
________________________________________________________________________________________
to transfer the said beneficial interest in such Security, with full power of substitution in the premises.

The undersigned certifies that said beneficial interest in said Security is being resold, pledged or otherwise transferred as follows:
(check one)

	
			
	o
	 
	to the Company or NextEra Energy, Inc.;

	o
	 
	pursuant to an exemption from registration provided by Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”) (if available);

	o
	 
	to a Person whom the undersigned reasonably believes is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act, purchasing for its own account or for the account of a qualified institutional buyer to whom notice is given that the resale, pledge or other transfer is being made in reliance on Rule 144A;

	o
	 
	in an offshore transaction in accordance with Rule 903 or 904 of Regulation S under the Securities Act;

	o
	 
	in accordance with another applicable exemption from the registration requirements of the Securities Act (and based upon an opinion of counsel acceptable to the Company); or

	o
	 
	pursuant to an effective registration statement under the Securities Act.

	
					
	

Dated:
	 
	 
	Signature:
	 

	 
	 
	NOTICE: The signature to this assignment must correspond with the name of the registered owner of the within instrument in every particular without alteration or enlargement, or any change whatever.

SIGNATURE GUARANTEE
Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirement of the registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

A-14

[FORM OF CERTIFICATE OF TRANSFER OF CERTIFICATED SECURITY]
NEXTERA ENERGY CAPITAL HOLDINGS, INC.
Series L Junior Subordinated Debentures due September 29, 2057

FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto

_______________________________________________________________________________________
Please insert social security or other identifying number of assignee identifying number of assignee

________________________________________________________________________________________
Name and address of assignee must be printed or typewritten 
$_______________ principal amount of the within Security of NextEra Energy Capital Holdings, Inc. (the “Company”) and does hereby irrevocably constitute and appoint
________________________________________________________________________________________
to transfer the said Security, with full power of substitution in the premises.

The undersigned certifies that said beneficial interest in said Security is being resold, pledged or otherwise transferred as follows:
(check one)

	
			
	o
	 
	to the Company or NextEra Energy, Inc.;

	o
	 
	pursuant to an exemption from registration provided by Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”) (if available);

	o
	 
	to a Person whom the undersigned reasonably believes is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act, purchasing for its own account or for the account of a qualified institutional buyer to whom notice is given that the resale, pledge or other transfer is being made in reliance on Rule 144A;

	o
	 
	in an offshore transaction in accordance with Rule 903 or 904 of Regulation S under the Securities Act;

	o
	 
	in accordance with another applicable exemption from the registration requirements of the Securities Act (and based upon an opinion of counsel acceptable to the Company); or

	o
	 
	pursuant to an effective registration statement under the Securities Act.

	
					
	

Dated:
	 
	 
	Signature:
	 

	 
	 
	NOTICE: The signature to this assignment must correspond with the name of the registered owner of the within instrument in every particular without alteration or enlargement, or any change whatever.

SIGNATURE GUARANTEE
Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirement of the registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

A-15EX-4.1

 Exhibit 4.1 

[Form of 3.272% Fixed/Floating Rate Notes due 2025] 
  

			
	Registered No.	  	CUSIP No. 38141GWQ3
		  	ISIN No. US38141GWQ36

 (Face of Security) 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE AS DEFINED HEREIN ON THE REVERSE OF THIS SECURITY AND IS REGISTERED
IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH
DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE GOLDMAN SACHS GROUP, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

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

  
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 THE GOLDMAN SACHS GROUP, INC. 

3.272% Fixed/Floating Rate Notes due 2025 

The Goldman Sachs Group, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company”, which term includes any successor Person under the Indenture as defined on the reverse of this Security), for value received, hereby promises to pay to
                        , or registered assigns, the principal sum of
                         on September 29, 2025. The Company further promises to pay interest on said principal sum as
follows: 
 Prior to September 29, 2024. The Company will pay interest on the principal sum hereof at the rate of
3.272% per annum from and including September 29, 2017 (or from the most recent Interest Payment Date prior to September 29, 2024 to which interest has been paid or duly provided for) to but excluding
September 29, 2024 (or, if the Maturity of the principal hereof occurs prior to such date, until the earlier of such date or the date the principal is paid or made available for payment), payable semi-annually. Such interest will be payable in
arrears on March 29 and September 29 in each year, commencing on March 29, 2018 and including September 29, 2024 (each an “Interest Payment Date”), and at any Maturity of the principal hereof prior to such date. 

 On and after September 29, 2024. The Company will pay interest on the principal sum hereof at a floating rate per annum
of 1.201% above LIBOR (subject to adjustment by the Calculation Agent as described below), determined in accordance with the applicable provisions below and reset effective each Interest Reset Date, from and including September 29,
2024 (or from the most recent Interest Payment Date thereafter to which interest has been paid or duly provided for) until the principal hereof is paid or made available for payment. Such interest will be payable quarterly in arrears on
March 29, June 29, September 29 and December 29 in each year, commencing on December 29, 2024 (each an “Interest Payment Date”), and at the Maturity of the principal hereof on or after September 29,
2024. 
 Any installment of interest that is overdue shall also bear interest at the same rate in effect during the Interest Period
ending on the day prior to the due date of such installment of interest (to the extent that the payment of such interest shall be legally enforceable), from the date any such overdue installment first becomes due until it is paid or made available
for payment. Notwithstanding the foregoing, interest on any installment of interest that is overdue shall be payable on demand, subject to the provisions in the Indenture. 

On each Interest Payment Date on or before September 29, 2024, the amount of interest payable shall be calculated by
multiplying the principal amount by an accrued interest factor for the Interest Period. Such accrued interest factor shall be expressed as a decimal and computed by multiplying the annual interest rate times the number of days
in the Interest Period in respect of which payment is being made, divided by 360, calculated on a formula basis as follows (such formula, the “30/360 (ISDA) Day Count Convention”):  

[360×(Y2–Y1)]+[30×(M2–M1)]+(D2–D1) 

360 

  
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 where: 

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

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

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

“M2” is the calendar month, expressed as a number, in which the day immediately following the last day included in the Interest
Period falls; 
 “D1” is the first calendar day, expressed as a number, of the Interest Period, unless such number would be 31, in
which case D1 will be 30; and 
 “D2” is the calendar day, expressed as a number, immediately following the last day included in
the Interest Period, unless such number would be 31 and D1 is greater than 29, in which case D2 will be 30. 
 On each Interest
Payment Date after September 29, 2024, the amount of interest payable shall be calculated by the Calculation Agent by multiplying the principal amount by an accrued interest factor for the Interest Period. Such accrued interest factor
shall be expressed as a decimal and computed by multiplying the interest rate determined as set forth below for such Interest Period (also expressed as a decimal) by the Actual/360 (ISDA) Day Count Convention for such Interest Period, which
is the actual number of days in the Interest Period divided by 360. 
 Payments of interest on this Security with respect to
any Interest Payment Date, or at the Maturity of the principal hereof, will include interest accrued to but excluding such Interest Payment Date or the date of such Maturity, as the case may be. 

Notwithstanding the foregoing, interest on this Security shall not be higher than the maximum rate permitted by New York law, as it may be
modified by U.S. law of general applicability. 
 For the purposes of this Security, LIBOR to take effect on any Interest Reset Date will be
determined in the following manner: 
 (i) LIBOR will be the London interbank offered rate per annum for three-month deposits
in U.S. dollars beginning on such Interest Reset Date, as such rate appears on the Reuters Screen LIBOR Page (as defined below) as of approximately 11:00 A.M., London time, on the day that is two London Business Days prior to such Interest
Reset Date (such date, the “LIBOR Interest Determination Date”). 

  
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 (ii) If the Calculation Agent determines that such LIBOR base rate (the London
interbank offered rate for three-month deposits in U.S. dollars) has been discontinued, then it will determine whether to use a substitute or successor base rate that it has determined in its sole discretion is most comparable to the LIBOR base
rate, provided that if the Calculation Agent determines there is an industry accepted successor base rate, the Calculation Agent shall use such successor base rate. If the Calculation Agent has determined a substitute or successor base rate in
accordance with the foregoing, the Calculation Agent in its sole discretion may also implement changes to (A) the business day convention as stated in the second paragraph under “Payments Due on a Business Day” below and in the sixth
paragraph below, (B) the definition of “Business Day” set forth under “Payments Due on a Business Day” below, (C) the LIBOR Interest Determination Date and (D) any method for obtaining the substitute or successor
base rate if such rate is unavailable on the relevant day, in each case, in a manner that is consistent with industry accepted practices for such substitute or successor base rate. Unless the Calculation Agent determines to use a substitute or
successor base rate as so provided, the following will apply: 
 (A) If LIBOR does not so appear on the Reuters Screen LIBOR
Page, then LIBOR will be determined on the basis of the rates per annum at which three-month deposits in U.S. dollars are offered by four major banks in the London interbank market selected by the Calculation Agent at approximately 11:00 A.M.,
London time, on such LIBOR Interest Determination Date, to prime banks in the London interbank market for a period of three months beginning on the relevant Interest Reset Date and in a Representative Amount. The Calculation Agent will request the
principal London office of each such bank to provide a quotation of its rate. If at least two quotations are provided, LIBOR for such Interest Reset Date will be the arithmetic mean of the quotations. 

(B) If fewer than two of the requested quotations described in clause (ii) above are provided, LIBOR for such Interest
Reset Date will be the arithmetic mean of the rates per annum quoted by major banks in New York City selected by the Calculation Agent at approximately 11:00 A.M. New York City time on such LIBOR Interest Determination Date, for loans in U.S.
dollars to leading European banks for a period of three months beginning on such Interest Reset Date and in a Representative Amount. 

(C) If no quotation is provided as described in clause (iii) above, then the Calculation Agent, after consulting such
sources as it deems comparable to any of the foregoing quotations or display page, or any such source as it deems reasonable from which to estimate LIBOR or any of the foregoing lending rates, shall determine LIBOR for such Interest Reset Date in
its sole discretion. 

  
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 References herein to LIBOR as set forth on a display page, other published
source, information vendor or other vendor officially designated by the sponsor of that rate, if there is a successor source for the display page, other published source, information vendor or other official vendor, include that successor source as
applicable as determined by the Calculation Agent. References herein to a particular heading or headings on any such sources include any successor or replacement heading or headings as determined by the Calculation Agent. 

If LIBOR is based on information obtained from a Reuters Screen, such rate will be subject to the corrections, if any,
published on such Reuters Screen within one hour of the time such information was first displayed on such source. 
 The Calculation Agent
will determine the interest rate on this Security that takes effect on any Interest Reset Date on the applicable LIBOR Interest Determination Date corresponding to such Interest Reset Date. Upon request of the Holder to the Calculation Agent, the
Calculation Agent will provide the interest rate then in effect on this Security and, if determined, the interest rate that will become effective on the next Interest Reset Date. 

For all purposes of this Security: 

The term “Interest Period” means the period beginning on and including September 29, 2017 to, but excluding, the first Interest
Payment Date and each successive period from and including an Interest Payment Date to but excluding the next Interest Payment Date (or, in any such case if applicable, to the Maturity of the principal hereof), subject to the provisions under
“Payments Due on a Business Day” below. 
 The term “Interest Reset Date” means every
March 29, June 29, September 29 and December 29, commencing on September 29, 2024, on each of which the rate of interest on this Security will be reset. If any Interest Reset Date after September 29, 2024
would otherwise be a day that is not a Business Day with respect to this Security, then such Interest Reset Date shall be postponed to the next day that is a Business Day; provided that, if such next succeeding Business Day falls in the next
calendar month, then such Interest Reset Date shall be advanced to the immediately preceding Business Day; and provided further that any such postponement or advancement is subject to adjustment by the Calculation Agent if it determines that
the LIBOR base rate has been discontinued as provided above. Notwithstanding the foregoing, the Interest Reset Date on September 29, 2024 and any Interest Reset Date that falls on the Maturity of the principal hereof will not be changed,
provided that, if any such Interest Reset Date is not a Business Day with respect to this Security, the determination of any floating rate of interest that takes effect on such date shall be determined two London Business Days prior to such
Interest Reset Date (subject to adjustment by the Calculation Agent if it determines that the LIBOR base rate has been discontinued as provided above). 

The term “Representative Amount” means an amount that, in the Calculation Agent’s judgment, is representative of a single
transaction in the relevant market at the relevant time. 

  
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 The term “Reuters Screen” means the display on the Thomson Reuters Eikon service or any
successor or replacement service. 
 The term “Reuters Screen LIBOR Page” means Reuters Screen LIBOR01 Page or any successor or
replacement page. 
 The interest so payable, and punctually paid or made available for payment, on any Interest Payment Date will, as
provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the calendar day (whether or not
a Business Day, as defined below) next preceding such Interest Payment Date (or, if such interest is to be paid on another day as provided below, next preceding such other day). Any interest so payable, but not punctually paid or made available for
payment, on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular Record Date and such Defaulted Interest may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof being given to the Holder of this Security not less than 10 days prior to such Special Record Date, or
be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

All percentages resulting from any calculation with respect to this Security will be rounded upward or downward, as appropriate, to the next
higher or lower one hundred-thousandth of a percentage point (e.g., 9.876541% (or .09876541) being rounded down to 9.87654% (or .0987654) and 9.876545% (or .09876545) being rounded up to 9.87655% (or .0987655)). All amounts used in or
resulting from any calculation with respect to this Security will be rounded upward or downward, as appropriate, to the nearest cent, in the case of U.S. dollars, or to the nearest corresponding hundredth of a unit, in the case of a currency other
than U.S. dollars, with one-half cent or one-half of a corresponding hundredth of a unit or more being rounded upward. 
 Currency and Manner of
Payment 
 Payment of the principal of and premium or interest on this Security will be made 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. Notwithstanding any other provision of this Security or the Indenture, if this Security is a Global Security, any payment in respect of this
Security may be made pursuant to the Applicable Procedures of the Depositary as permitted in the Indenture. 
 Subject to the prior
paragraph and except as provided in the next paragraph, payment of any amount payable on this Security will be made at the office or agency of the Company maintained for that purpose in The City of New York (and at any other office or agency
maintained by the Company for that purpose), against surrender of this Security in the case of any payment due at the Maturity of the principal hereof (other than any payment of interest that 

  
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first becomes due on an Interest Payment Date); provided, however, that, at the option of the Company and subject to the next paragraph, payment of interest may be made by check
mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 
 Subject to the second
preceding paragraph, payment of any amount payable on this Security will be made by wire transfer of immediately available funds to an account maintained by the payee with a bank located in the Borough of Manhattan, The City of New York, if
(i) the principal of this Security is at least $1,000,000 and (ii) the Holder entitled to receive such payment transmits a written request for such payment to be made in such manner to the Trustee at its Corporate Trust Office, Attention:
Global Corporate Trust, on or before the fifth Business Day before the day on which such payment is to be made; provided that, in the case of any such payment due at the Maturity of the principal hereof (other than any payment of interest
that first becomes due on an Interest Payment Date), this Security must be surrendered at the office or agency of the Company maintained for that purpose in The City of New York (or at any other office or agency maintained by the Company for that
purpose) in time for the Paying Agent to make such payment in such funds in accordance with its normal procedures. Any such request made with respect to any payment on this Security payable to a particular Holder will remain in effect for all later
payments on this Security payable to such Holder, unless such request is revoked on or before the fifth Business Day before a payment is to be made, in which case such revocation shall be effective for such payment and all later payments. In the
case of any payment of interest payable on an Interest Payment Date, such written request must be made by the Person who is the registered Holder of this Security on the relevant Regular Record Date. The Company will pay any administrative costs
imposed by banks in connection with making payments by wire transfer with respect to this Security, but any tax, assessment or other governmental charge imposed upon any payment will be borne by the Holder of this Security and may be deducted from
the payment by the Company or the Paying Agent. 
 Payments Due on a Business Day 

Notwithstanding any provision of this Security or the Indenture, if any amount of principal, premium or interest would otherwise be due on this
Security on a day (the “Specified Day”) that is not a Business Day, such amount may be paid or made available for payment on the next succeeding Business Day with the same force and effect as if such amount were paid on the Specified Day,
and no interest will accrue on the amount so payable for the period from the Specified Day to such next succeeding Business Day. Interest Periods shall not be adjusted for non-Business Days, except as provided in the next paragraph. 

If an Interest Payment Date scheduled to occur after September 29, 2024 would otherwise be a day that is not a Business Day, that
Interest Payment Date shall be postponed to the next day that is a Business Day; provided that, if such next succeeding Business Day falls in the next calendar month, the Interest Payment Date shall be advanced to the immediately preceding
Business Day; and provided further that any such postponement or advancement is subject to adjustment by the Calculation Agent if it determines that the LIBOR base rate has been discontinued as provided above. Notwithstanding the foregoing,
an Interest Payment Date that falls on the Maturity of the principal hereof will not be changed. Any Interest Period beginning on or ending immediately prior to an Interest Payment Date that is postponed or advanced as provided in this paragraph
shall be adjusted accordingly. 

  
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 -7- 

 For all purposes of this Security: 

The term “Business Day” means, prior to September 29, 2024, a day that is a New York Business Day; and on or after
September 29, 2024, a day that is a New York Business Day and is also a London Business Day (subject to adjustment by the Calculation Agent if it determines that the LIBOR base rate has been discontinued as provided above). 

The term “London Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking
institutions in London generally are authorized or obligated by law, regulation or executive order to close and is also a day on which dealings in U.S. dollars are transacted in the London interbank market. 

The term “New York Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking
institutions in New York City generally are authorized or obligated by law, regulation or executive order to close. 
 The provisions of
this section shall apply to this Security in lieu of the provisions of Section 1.13 of the Indenture. 
 Calculation Agent 

As used herein, the “Calculation Agent” shall initially mean Goldman Sachs & Co. LLC; provided that the
Company may, in its sole discretion, appoint any other institution (including any affiliate of the Company) to serve as any such agent from time to time. The Company will give the Trustee prompt written notice of any change in any such appointment.
Insofar as this Security provides for any such agent to obtain rates, quotes or other data from a bank, dealer or other institution for use in making any determination hereunder, such agent may do so from any institution or institutions of the kind
contemplated hereby notwithstanding that any one or more of such institutions are any such agent, affiliates of any such agent or affiliates of the Company. 

All determinations made by the Calculation Agent, absent manifest error, shall be conclusive for all purposes and binding on the Holder of
this Security and the Company. The Calculation Agent shall not have any liability therefor. 
  

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

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

  
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 -8- 

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

Dated: 
  

			
	THE GOLDMAN SACHS GROUP, INC.
		
	 By:
	 	 
		 	Name:
		 	Title:

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

Dated: 
  

			
	 THE BANK OF NEW YORK MELLON,

     as Trustee

		
	 By:
	 	 
		 	Authorized Signatory

  
 -9- 

 (Reverse of Security) 

1. Securities and Indenture. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”) issued and to be
issued in one or more series under a Senior Debt Indenture, dated as of July 16, 2008 (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York
Mellon, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

2. Series and Denominations. 

This Security is one of the series designated on the face hereof, limited to an aggregate principal amount as shall be determined and may be
increased from time to time by the Company. Any election by the Company so to increase such aggregate principal amount shall be evidenced by a certificate of an Authorized Person (as defined in the Determination of an Authorized Person,
dated September 29, 2017, with respect to this series). References herein to “this series” mean the series of Securities designated on the face hereof, provided that, for purposes of Sections 6 and 7 below, the term “series”
(and references to Securities of a series) shall be deemed to refer only to Securities having the same CUSIP number. The Securities of this series are issuable only in registered form without coupons in denominations of integral multiples
of $1,000, subject to a minimum denomination of $2,000. 
 3. Additional Amounts. 

If the beneficial owner of this Security is a United States Alien (as defined below), the Company will pay all additional amounts that may be
necessary so that every net payment of the principal of and interest on this Security to such beneficial owner, after deduction or withholding for or on account of any present or future tax, assessment or governmental charge imposed with respect to
such payment by any U.S. Taxing Authority (as defined below), will not be less than the amount provided for in this Security to be then due and payable; provided, however, that the Company shall have no obligation to pay additional
amounts for or on account of any one or more of the following: 
 (i) any tax, assessment or other governmental charge
imposed solely because at any time there is or was a connection between such beneficial owner (or between a fiduciary, settlor, beneficiary, shareholder or member of such beneficial owner, if such beneficial owner is an estate, trust, partnership or
corporation) and the United States (as defined below) (other than the mere receipt of a payment on, or the ownership or holding of, a Security), including because such beneficial owner (or such fiduciary, settlor, beneficiary, shareholder or member)
at any time, for U.S. federal income tax purposes: 

  
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(a) is or was a citizen or resident, or is or was treated as a resident, of the United States, (b) is or was present in the United States, (c) is or was engaged in a trade or business
in the United States, (d) has or had a permanent establishment in the United States, (e) is or was a domestic or foreign personal holding company, a passive foreign investment company or a controlled foreign corporation, (f) is or was
a corporation that accumulates earnings to avoid U.S. federal income tax or (g) is or was a “10-percent shareholder” of the Company as defined in section 871(h)(3) of the U.S. Internal Revenue Code or any successor provision; 

(ii) any tax, assessment or governmental charge imposed solely because of a change in applicable law or regulation, or in any
official interpretation or application of applicable law or regulation, that becomes effective more than 15 days after the day on which the payment becomes due or is duly provided for, whichever occurs later; 

(iii) any estate, inheritance, gift, sales, excise, transfer, wealth or personal property tax or any similar tax, assessment or
other governmental charge; 
 (iv) any tax, assessment or other governmental charge imposed solely because such beneficial
owner or any other Person fails to comply with any certification, identification or other reporting requirement concerning the nationality, residence, identity or connection with the United States of the Holder or any beneficial owner of this
Security, if compliance is required by statute, by regulation of the U.S. Treasury Department or by an applicable income tax treaty to which the United States is a party, as a precondition to exemption from such tax, assessment or other governmental
charge; 
 (v) any tax, assessment or other governmental charge that is payable otherwise than by deduction or withholding
from payments of principal of or interest on this Security; 
 (vi) any tax, assessment or other governmental charge imposed
solely because the payment is to be made by a particular Paying Agent (which term may include the Company) and would not be imposed if made by another Paying Agent (which term may include the Company); 

(vii) any tax, assessment or other governmental charge imposed solely because the Holder (1) is a bank purchasing this
Security in the ordinary course of its lending business or (2) is a bank that is neither (A) buying this Security for investment purposes only nor (B) buying this Security for resale to a third party that either is not a bank or
holding the note for investment purposes only; or 
 (viii) any combination of the taxes, assessments or other governmental
charges described in items (i) through (vii) of this Section 3. 
 Additional amounts also will not be paid with respect to
any payment of principal of or interest on this Security to any United States Alien who is a fiduciary or a partnership, or who is not the sole beneficial owner of any such payment, to the extent that the Company would not be required to pay
additional amounts to any beneficiary or settlor of such fiduciary or any member of such a partnership, or to any beneficial owner of the payment, if that Person had been treated as the beneficial owner of this Security for this purpose. 

  
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 In addition, any amounts to be paid on this Security will be paid net of any deduction or
withholding imposed or required pursuant to Sections 1471 through 1474 of the U.S. Internal Revenue Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code,
or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the U.S. Internal Revenue Code, and no additional amounts will be
required to be paid on account of any such deduction or withholding. 
 The term “United States Alien” means any Person
who, for U.S. federal income tax purposes, is a nonresident alien individual, a foreign corporation, a foreign partnership one or more of the members of which is, for United States federal income tax purposes, a foreign corporation, a nonresident
alien individual or a nonresident alien fiduciary of a foreign estate or trust, or a nonresident alien fiduciary of an estate or trust that is not subject to U.S. federal income tax on a net income basis on income or gain from this Security. For the
purposes of this Section 3 and Section 4 only, (a) the term “United States” means the United States of America (including the states thereof and the District of Columbia), together with the territories, possessions
and all other areas subject to the jurisdiction of the United States of America and (b) the term “U.S. Taxing Authority” means the United States of America or any state, other jurisdiction or taxing authority in the United
States. 
 Except as specifically provided in this Security, the Company shall not be required to make any payment with respect to any tax,
assessment or other governmental charge imposed by any government or any political subdivision or taxing authority thereof or therein. 

Whenever in the Securities of this series (or in the Indenture, including in Sections 5.01(1) and (2) thereof, insofar as applicable
to this series) there is a reference, in any context, to the payment of the principal of or interest on any Security of this series, such mention shall be deemed to include mention of any payment of additional amounts to United States Aliens in
respect of such payment of principal or interest to the extent that, in such context, such additional amounts are, were or would be payable in respect thereof pursuant to this Section 3 or any corresponding section of another Security of this
series, as the case may be. Express mention of the payment of additional amounts in any provision of any Security of this series shall not be construed as excluding additional amounts in the provisions of any Security of this series (or of the
Indenture insofar as it applies to this series) where such express mention is not made. 
 4. Redemption at the Company’s
Option. 
 (a) The Securities of this series may be redeemed, as a whole but not in part, at the option of the Company, at a
redemption price equal to 100% of the principal amount of the Securities to be redeemed, together with interest accrued to the date fixed for redemption, if, as a result of any amendment to, or change in, the laws or regulations of any U.S. Taxing
Authority 

  
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 -12- 

 
(as defined in Section 3 above), or any amendment to or change in any official interpretation or application of such laws or regulations, which amendment or change becomes effective or is
announced on or after September 26, 2017, the Company will become obligated to pay, on the next Interest Payment Date, additional amounts in respect of any Security of this series pursuant to Section 3 of this Security or any corresponding
section of another Security of this series. If the Company becomes entitled to redeem the Securities of this series, it may do so on any day thereafter pursuant to the Indenture; provided, however, that (1) the Company gives the
Holder of this Security notice of such redemption not more than 60 days nor less than 30 days prior to the date fixed for redemption as provided in the Indenture, (2) no such notice of redemption may be given earlier than 90 days prior to
the next Interest Payment Date on which the Company would be obligated to pay such additional amounts and (3) at the time such notice is given, such obligation to pay such additional amounts remains in effect. Immediately prior to the giving of
any notice of redemption of Securities pursuant to this Section 4(a), the Company will deliver to the Trustee an Officers’ Certificate stating that the Company is entitled to effect such redemption and setting forth in reasonable detail a
statement of facts showing that the conditions precedent to the right of the Company to so redeem the Securities have occurred. Interest installments due on or prior to a Redemption Date will be payable to the Holder of this Security or one or more
Predecessor Securities, of record at the close of business on the relevant record date, all as provided in the Indenture. 
 (b) In
addition, the Securities of this series may be redeemed, at the Company’s option, in whole at any time or in part from time to time, on or after March 29, 2018 (or, if any additional Securities of this series are issued after
September 29, 2017, beginning six months after the last issue date for the additional Securities of this series), and to, but excluding, September 29, 2024, at a redemption price equal to the greater of (1) 100% of the principal
amount of the Securities to be redeemed or (2) as determined by the Quotation Agent described below, the sum of the present values of the remaining scheduled payments of principal and interest, to and including September 29, 2024 (assuming
for this purpose that the Securities of this series would mature on September 29, 2024 rather than the Stated Maturity of the principal hereof), on the Securities to be redeemed, not including any portion of these payments of interest accrued
as of the date on which the Securities are to be redeemed, discounted to the date on which the Securities are to be redeemed on a semi-annual basis, applying the 30/360 (ISDA) Day Count Convention, at the Treasury Rate (as defined below) plus 20
basis points, plus, in each case, interest accrued to the date fixed for redemption. Notice of a redemption pursuant to this Section 4(b) must be provided to the Holder of this Security not more than 60 days nor less than 15 days prior to the
date fixed for redemption. Interest installments due on or prior to a Redemption Date will be payable to the Holder of this Security or one or more Predecessor Securities, of record at the close of business on the relevant record date, all as
provided in the Indenture. 
 “Treasury Rate” means: 
  

	 	•	 	 the yield, under the heading which represents the average for the week immediately prior to the date of
calculation, appearing in the most recently published statistical release appearing on the website of the Board of Governors 

  
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of the Federal Reserve System or in another recognized electronic source, in each case as determined by the quotation agent in its sole discretion, and which establishes yields on actively traded
U.S. Treasury securities adjusted to constant maturity, for the maturity most closely corresponding to the remaining term of the Securities to be redeemed, assuming for this purpose that the Securities of this series would mature on
September 29, 2024 (rather than the Stated Maturity of the principal hereof), or if no maturity is within three months before or after this time period, yields for the two published maturities most closely corresponding to this time period will
be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight-line basis, rounding to the nearest month; or 

  

	 	•	 	if the release or any successor release is not published during the week preceding the calculation date or does not contain such yields, the annual rate equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue (as defined below), calculated using a price for the Comparable Treasury Issue, expressed as a percentage of its principal amount, equal to the Comparable Treasury Price (as defined below) for the Redemption Date.

 The Treasury Rate will be calculated on the third Business Day preceding the Redemption Date. 

“Quotation Agent” shall initially mean Goldman Sachs & Co. LLC or its successor. However, if Goldman Sachs & Co.
LLC ceases to be a primary U.S. Government securities dealer in New York City, the Company will appoint another primary U.S. Government securities dealer to serve as the Quotation Agent. 

“Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by the
Quotation Agent as being the most recently issued United States Treasury note or bond as displayed by Bloomberg L.P. (or any successor service) on screens PX1 through PX8 (or any other screens as may replace such screens on such service) that has a
remaining term comparable to the remaining term of the Securities to be redeemed, assuming for this purpose that the Securities of this series would mature on September 29, 2024 (rather than the Stated Maturity of the principal hereof). 

“Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of five Reference Treasury Dealer
Quotations (as defined below) for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than five such Reference Treasury Dealer Quotations, the
average of all such quotations. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
(as defined below) and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and ask prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, quoted in writing to the
Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

  
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 “Reference Treasury Dealer” means (1) the Quotation Agent or (2) any other
primary U.S. Government securities dealer selected by the Quotation Agent after consultation with the Company. 
 (c) In addition, on each
of September 29, 2024 and March 29, 2025, the Securities of this series may be redeemed, at the Company’s option, in whole, but not in part, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed,
together with interest accrued to the date fixed for redemption. Notice of a redemption pursuant to this Section 4(c) must be provided to the Holder of this Security not more than 60 days nor less than 15 days prior to the date fixed for
redemption. Interest installments due on or prior to a Redemption Date will be payable to the Holder of this Security or one or more Predecessor Securities, of record at the close of business on the relevant record date, all as provided in the
Indenture. 
 5. Defeasance. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants,
Events of Default and Covenant Breaches with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. Both of such provisions are applicable to this Security. 

6. Modification and Waiver. 

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

  
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notation of such consent or waiver is made upon this Security. For the purpose of this paragraph, the term “default” means, with respect to any Securities, any event which is, or after
notice or lapse of time or both would become, an Event of Default or Covenant Breach in respect of such Securities. 
 7.
Remedies. 
 If an Event of Default with respect to Securities of this series shall occur and be continuing, the
principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. With respect to this Security, the only Events of Default are payment defaults that continue for 30 days and
insolvency events, all as specified in the Indenture. Any other default under or breach of the Indenture or the Securities will not give rise to an Event of Default, whether after notice, the passage of time or otherwise. 

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

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

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

8. Transfer and Exchange. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly 

  
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 -16- 

 
executed by, the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for
the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 As provided in the Indenture and subject
to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering
the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Security is a Global Security and is
subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 3.05 thereof on transfers and exchanges of Global Securities. 

9. Governing Law. 

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

10. Terms Defined in the Indenture. 

All terms used in this Security which are defined in the Indenture but not otherwise defined herein shall have the meanings assigned to them
in the Indenture. 

  
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 -17- 

 ASSIGNMENT 
  

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

 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

 

					
	 		
	 	 		 	

  

	
	
	 
	
	 
	(Please Print or Typewrite Name and Address Including Postal Zip Code of Assignee)
	
	 
	
	the attached Security and all rights thereunder, and hereby irrevocably constitutes and appoints
	
	 
	
	 to transfer said Security on the books of the Company, with full power of substitution in the
premises.

  

					
	 Date:
                        
  

Signature Guaranteed
  

 

NOTICE: Signature must be Medallion

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

  
 -18-

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