国家电网配电(西米德兰兹郡)PLC

(根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号

欧元中期票据方案临时全球票据临时全球票据编号：

本临时全球票据是就本协议附表2 A部所指明的一批及一系列债券(“债券”)发行的

发行人

(“发行者”)。解释及定义本临时全球票据中提及的“条件”是指适用于票据的条款及条件(采用发行人与汇丰企业信托(英国)有限公司作为受托人、日期为2023年8月_日的经修订及重述的信托契约(“信托契约”)附表4(票据的条款及条件)所载的格式，该格式已被本临时全球票据的条文补充及/或修改及/或取代(包括补充定义及附表2 A部分所载的任何修改或增补)，在发生任何冲突的情况下以其为准)。本临时全球票据中使用的其他大写术语应具有条件或信托契约中给予它们的含义。如果本协议第二附表规定适用的TEFRA豁免为“C规则”或“不适用”，则本临时全球票据为“C规则票据”，否则本临时全球票据为“D规则票据”。总面值本临时全球票据不时的总面值应相等于本附表1第四栏最新记项所示的票据面值总额，应由发行和支付代理或其代表在(I)发行本临时全球票据时填写，(Ii)将本临时全球票据的全部或部分交换为永久全球票据的相应权益，或(Iii)赎回或购买和注销本临时全球票据，均如下所述。在符合本条款规定的条件下，发行人承诺在兑付时向本临时全球票据的持票人支付已收到的金额，并在到期日(或根据条件赎回时应支付的金额根据条件可根据条件偿还的较早日期)向本临时全球票据的持票人支付本临时全球票据的到期日(或根据条件赎回时应支付的金额根据条件可根据条件偿还的较早日期)，并(除非本临时全球票据不产生利息)支付该票据的利息(除非本临时全球票据不计息)

11/81536398_4 34按照条件所规定的利率、付款日期和计算方法计算的拖欠日期，但计算方法是就票据的总额连同根据条件可予支付的其他款项及额外款额(如有的话)按照条件计算的。在发行日期(“兑换日”)后40天届满后的第一天或之后，本临时全球票据可全部兑换(对持有人免费)，或不时(如属D规则票据)部分兑换，并在全额兑换时退还永久全球票据的利息的发行和支付代理人，或如本条例附表2如此规定，则为最终票据，其面值总额相等于本临时全球票据的面值。如果为兑换永久全球票据或最终票据而提交的D Rules票据的任何部分，应在不早于兑换日期的日期之前就此类兑换提交的名义金额提供证明。“认证”是指向发行和支付代理出示与本临时全球票据中的一个或多个权益有关的一个或多个证书，该证书由欧洲结算公司或卢森堡Clearstream签署，实质上符合《代理协议》附表4(清算系统非美国公民身份和居留证书)中规定的意思，表明它已收到实质上与附表3(美国以外地区的账户持有人证书)中规定的意思相同的一份或多份证书。当本临时全球票据的全部或部分兑换为永久全球票据时，该永久全球票据应可根据其最终票据条款进行兑换。本临时全球票据或永久全球票据可交换的最终票据须妥为签立及认证，如属最终票据，则须附有尚未就本临时全球票据或永久全球票据(视属何情况而定)支付的利息的所有息票(及(如适用)爪子)，须为防伪印制，并应基本上采用经补充及/或修订及/或由附表2的条款取代的信托契约附表所载的格式。在将本临时全球票据的一部分交换为永久全球票据或最终票据的等值权益(视属何情况而定)时，如此交换的面值部分应由发行和支付代理人或其代表在本协议第一附表中背书，因此，在所有目的下，面值应减去如此交换和背书的金额。条件利益除本协议另有规定外，本临时全球票据须受该等条件及信托契约所规限，而直至本临时全球票据全部兑换为永久全球票据或最终票据或注销前，该临时全球票据持有人在各方面均有权享有犹如其为永久全球票据(或其相关部分)或最终票据(视属何情况而定)的持有人所享有的相同利益，犹如该永久全球票据或最终票据已于发行日发行一样。就D规则票据于交易所日期前到期的付款，只可就本临时全球票据的名义金额支付，而该临时全球票据的付款日期须不早于该到期日。就本临时全球票据支付的任何款项应在提示时向其持有人支付，并(如果没有进一步付款)将其交回发行和支付代理人或条件中规定的任何其他支付代理人的指定办事处。如果就本临时全球票据所代表的任何票据支付了全额本金，则本临时全球票据中代表该票据的部分应被注销，注销的金额应由发行和付款代理或其代表在本临时全球票据的附表1中背书(该背书是有关付款已支付的表面证据)，因此，在所有情况下，本临时全球票据的面值应减去如此注销和背书的金额。如果就本临时全球票据所代表的票据支付了任何其他付款，则每笔付款的记录应由发行和付款代理或其代表在本票据的附加附表上背书(这种背书是有关付款已支付的表面证据)。就就本临时全球票据所作的任何付款而言，条件7.7(非营业日)中的营业日定义中不应使用“在相关提示地点”的字样。尽管有第15条(通知)的规定，本临时全球票据所代表的票据所需发出的通知可通过将其交付(只要本临时全球票据是代表欧洲结算和卢森堡Clearstream或任何其他结算系统持有)至EuroClear、Clearstream、卢森堡或其他清算系统(视情况而定)或以其他方式发给本临时全球票据持有人的方式发出，而不是按照条件的要求以公布的方式发出。本临时全球票据的任何规定不得改变或损害发行人在按照条件到期时支付票据本金、溢价和利息的义务。在发行和付款代理或其代表认证之前，这张临时全球钞票在任何目的下都不会有效，也不会成为强制性的。本临时全球票据以及由此产生或与之相关的任何非合同义务应受英国法律管辖。

11/81536398_4 36为证，本临时全球票据已由出票人以其名义正式签署。日期截至发行日期。

发行人

发行人：认证证书这种临时全球票据由发行和支付代理或其代表认证。汇丰银行有限公司作为发行和支付代理：授权签字人仅供认证之用。任何负有这一义务的美国人将受到美国所得税法的限制，包括国内税法第165(J)条和第1287(A)条规定的限制。11/81536398_4 37本临时全球票据所代表的第一附表票面金额以下(I)本临时全球票据最初所代表的票据的发行，(Ii)本临时全球票据的全部或部分以换取永久全球票据或最终票据的利息及/或(Iii)已取消或没收本临时全球票据的权益，导致本临时全球票据的面额在以下第四栏的最新分录中列明：本临时全球票据面额减少的日期本临时全球票据面额减少的原因(交易所，取消或没收)本临时全球票据在发行时或在由发行和付款代理或代表发行和付款代理发行日期作出的此类减记之后的名义金额不适用不适用

11/81536398_4 38附表2

插入相关条款

最终条款/定价补充资料

与作为附表2的条件或全球票据有关的事项

11/81536398_4 39中广核永久全球钞票第二部分格式

国家电网配电(东米德兰)PLC

国家电网配电(南威尔士)PLC[国网配电(西南)PLC]/[国家电网配电(西米德兰兹郡)PLC]/[(根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号]/[欧元中期票据方案永久全球票据永久全球票据编号]本永久全球纸币是就本协议附表3 A部分所述的S一批及系列的债券(“债券”)发行的[02366923]/[02366985]/[02366894]/[03600574]发行人[•](“发行者”)。解释和定义本永久全球票据中对“条件”的引用是指适用于票据的条款和条件(其格式载于发行人和作为受托人的汇丰公司信托(英国)有限公司于2023年8月_日修订和重述的信托契约(“信托契约”)附表4(票据的条款和条件)所载的格式，该格式已被本永久全球票据的规定补充和/或修改和/或取代(包括补充定义和附表3 A部分所载的任何修改或增补)，在发生任何冲突的情况下以其为准)。本永久全球票据中使用的其他大写术语应具有条件或信托契约中给予它们的含义。面值总额本永久全球票据不时的面值总额须相等于本附表1第4栏内最新记项所示的票据面值总额，并须由发行及支付代理人或其代表在(I)将最初代表票据的全部或部分临时全球票据(如属发行时由临时全球票据代表的票据)、(Ii)发行本永久全球票据所代表的票据(如属发行时本永久全球票据所代表的票据)交换时填写，(Iii)将本永久全球票据的全部或部分交换为最终票据，及/或(Iv)赎回或购买及注销本票据，详情如下。在符合本协议规定的条件下，发行人承诺根据收到的金额向本永久全球票据的持票人付款，并(当本永久全球票据没有到期的进一步付款时)退还本永久全球票据，在到期日(或在条件下赎回时须支付的款额按照条件须予偿还的较早日期)，根据条件赎回本永久全球票据所代表的票据面值总额的应付款额，以及(除非本永久全球票据不计息)须就该等票据支付利息，利率、付款日期及按照该等条件所规定的计算方法计算的利息，但计算方法则除外[11/81536398_4 40按照条件，债券的总额，连同根据条件可能须支付的其他款项及额外款项(如有的话)。交易所本永久全球票据可于交易所日期或之后全部兑换(对持有人免费)，但如本永久全球票据是代表欧洲结算或卢森堡Clearstream或任何其他结算系统(“另类结算系统”)持有，且任何该等结算系统连续14天(法定或其他节假日除外)或宣布有意永久停业或确实如此，则不能部分兑换最终票据。“汇兑日期”是指在发出要求汇兑的通知之日起不少于60天，银行在发行和支付代理人的指定办事处所在城市以及(除上述汇兑情况外)欧洲清算银行和卢森堡Clearstream或替代清算系统(如果相关)所在的城市营业的日期。任何此类交换均可在交易日或之后，由本永久全球票据的持有者将本永久全球票据交还给发行和付款代理或按其命令进行。条件利益除本协议另有规定外，本永久全球票据须受该等条件及信托契约所规限，而直至本永久全球票据全部兑换为最终票据或注销前，该永久全球票据持有人在各方面均有权享有相同利益，犹如其为可兑换之最终票据持有人及犹如该等最终票据已于发行日发行一样。任何人无权就本永久全球票据所代表的票据收取在此类票据的交换日期后到期的任何付款，除非在正式出示本永久全球票据以供交换时，发行人或其代表不当地扣留或拒绝交付最终票据，或发行人没有履行或履行任何一项或多项最终票据项下的义务。有关本永久全球钞票的付款须于提示时支付予持有人，并(如无进一步付款)交回发行及付款代理人或条件所规定的任何其他付款代理人的指定办事处。每项上述付款的纪录，须由发证及付款代理人或有关的付款代理人(视何者适用而定)在本文件附表1或2内为发证及付款代理人或代发证及付款代理人批注，而该批注即为有关付款已作出的表面证据(直至相反证明成立为止)。就本永久全球票据所作的任何付款而言，在条件7.7(非营业日)的营业日定义中，“在有关交单地点”的字样不适用。就任何票据持有人会议而言，本永久全球票据持有人应视为对票据指定货币的每个整数货币单位有一票投票权。注销本永久全球票据所代表的任何票据，如须予注销的条件所规定(赎回时除外)，须在向发行及付款代理人出示该票据以供背书时，减少该永久全球票据的面额，或按发行及付款代理人的指示于附表1作出背书，因此，在所有目的下，本永久全球票据的面值均应减去如此注销及背书的金额。只有在购买票据时，发行人才能购买该票据，并有权获得未来的所有利息付款。发行人的选择权条件中规定的发行人的任何选择权，应由发行人在条件规定并包含条件所要求的信息的时限内向票据持有人发出通知，但通知不需要包含在部分行使选择权的情况下提取的票据的序列号，因此不需要提取票据。 通知尽管有第15条（通知），但就本永久性全球票据所代表的票据需要发出的通知可以在票据交付时发出（只要该永久全球票据是代表欧洲清算银行、Clearstream、卢森堡或任何其他清算系统持有的）至欧洲清算银行、Clearstream、卢森堡或此类其他清算系统（视情况而定），或以其他方式提供给该永久全球票据的持有人，而不是按照条件要求发布。 ]11/81536398_4 42本永久全球纸币是无记名票据，可转让，因此：(A)可自由交付转让，此种转让的作用是赋予受让人与本票据有关的一切权利和利益，并根据条件约束受让人与本票据有关的所有义务；(B)与所有以前的持有人相比，本永久全球票据的持有人有绝对权利收取赎回时应付的所有款项、利息或以其他方式就本永久全球票据支付的款项，而发行人已放弃该持有人及本永久全球票据的任何先前持有人就本永久全球票据所证明的义务而将会或可能获得的所有抵销或反索偿权利；及(C)本永久全球票据一经如期出示，本文件所规定的付款将对该持有人及本永久全球票据的所有先前持有人具有良好的清偿作用。本永久全球票据的任何规定不得改变或损害发行人在按照条件到期时支付票据本金、溢价和利息的义务。在发行和支付代理或其代表认证之前，这种永久全球纸币在任何目的下都不会有效或成为强制性的。本永久全球票据以及由此产生或与之相关的任何非合同义务应受英国法律管辖。11/81536398_4 43兹证明发票人已代表其正式签署了这张永久全球票据。日期截至发行日期。

发行人

由：认证证书这种永久全球钞票由发行和支付代理或其代表认证。汇丰银行有限公司作为发行和支付代理：授权签字人仅供认证之用。任何负有这一义务的美国人将受到美国所得税法的限制，包括国内税法第165(J)条和第1287(A)条规定的限制。[11/81536398_4 44本永久全球纸币所代表的纸币面值第一附表以下(I)最初由本永久全球纸币代表的纸币的发行，(Ii)以临时全球纸币的利息交换本永久全球纸币的利息，(Iii)以本永久全球纸币的全部或部分交换最终纸币，(Iv)取消或没收本永久全球纸币的权益及/或(V)已支付赎回本永久全球纸币的应付款项，产生第四栏最新条目中规定的该永久全球票据的名义金额：本永久全球票据名义金额增加/减少的日期本永久全球票据名义金额增加/减少的原因(初始发行、交换、注销、没收或付款，说明已支付的金额)本永久全球票据的名义金额根据发行和付款代理或其代表所作的上述增减计息11/81536398_4 45附表2已就本永久全球票据支付下列利息或利息金额：到期日付款日期支付日期由发行和支付代理或其代表作出的计息金额]11/81536398_4 46附表3

插入相关条款[最终条款/定价补充资料[这与作为附表3的条件或全球票据有关。]11/81536398_4 47第四附表行使票据持有人的选择权条件中规定的票据持有人的选择权已就本永久全球票据的名义金额进行了以下行使：行使日期行使该永久全球票据的名义金额行使该选择权的日期是由发行和付款代理人或其代表作出的有效记号]11/81536398_4 48第三部分新一代全球临时票据格式[国家电网配电(东米德兰)PLC]/[国家电网配电(南威尔士)PLC]/[国网配电(西南)PLC]/[国家电网配电(西米德兰兹郡)PLC](根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号[02366923]/[02366985]/[02366894]/[03600574]欧元中期票据方案临时全球票据临时全球票据编号：[•]本临时全球票据是就本协议附表A部所指明的一批及一系列债券(“债券”)发行的[发行人](“发行者”)。解释和定义本临时全球票据中提及的“条件”是指适用于票据的条款和条件(采用发行人和作为受托人的汇丰公司信托(英国)有限公司于2023年8月_日修订和重述的信托契约(“信托契约”)附表4(票据的条款和条件)所载的格式，该格式由本临时全球票据的规定补充和/或修改和/或取代)(包括补充定义和本临时全球票据A部分所载的任何修改或增补)，在发生任何冲突的情况下以其为准)。本临时全球票据中使用的其他大写术语应具有条件或信托契约中给予它们的含义。如果本协议第二附表规定适用的TEFRA豁免为“C规则”或“不适用”，则本临时全球票据为“C规则票据”，否则本临时全球票据为“D规则票据”。总面值本临时全球票据的总面值应等于不时在欧洲结算系统和卢森堡Clearstream(统称为“相关结算系统”)的记录中记录的票据的面值总额，应在(I)发行本临时全球票据时完成和/或修订(视情况而定)，(Ii)将本临时全球票据的全部或部分交换为相关结算系统记录的永久全球票据的相应利息，或交换为最终票据，及/或(Iii)赎回或购买及注销本文件所述的票据，详情如下。本临时全球票据的持票人(如未就本临时10 11/81536398_4 49期票据进一步付款时)退还本临时全球票据，在到期日(或在根据条件赎回时须支付的款额按照条件可予偿还的较早日期)，就本临时全球票据所代表的票据面值总额而根据条件赎回时须支付的款额，以及(除非本临时全球票据并不计息)就该等票据支付利息的款项(除非本临时全球票据并无计息)，并须按该等条件所规定的利率、付款日期及计算方法就该等票据支付利息，但该计算方法是就该等票据的总额计算的，连同根据该等条件而须按照该等条件支付的其他款项及额外款额(如有的话)。“认证”是指向发行和支付代理提交一份或多份关于本临时全球票据中一个或多个权益的证书，该证书由欧洲结算公司或卢森堡Clearstream签署，实质上符合《代理协议》附表4(清算系统非美国公民身份和居留证书)中规定的意思，表明它已收到与代理协议附表3(非美国公民身份和居留身份的账户持有人证书)基本相同的一份或多份证书，并且欧洲清算银行或卢森堡Clearstream没有收到关于其内容的相反意见。视情况而定。当本临时全球票据的全部或部分兑换为永久全球票据时，该永久全球票据应可根据其最终票据条款进行兑换。本临时全球票据或永久全球票据可交换的最终票据须妥为签立及认证，如属最终票据，则须附有尚未就本临时全球票据或永久全球票据(视属何情况而定)支付的利息的所有息票(及(如适用)爪子)，须为防伪印制，并应基本上采用信托契约附表所载经补充及/或修订及/或由本协议附表A部条款取代的格式。 条件的好处除非本文另有规定，此临时全球票据受条件和信托契约的约束，并且，直到整个此临时全球票据被交换为永久全球票据或保留票据的同等权益或被注销为止，此临时全球票据的持有人在各方面均有权享受与永久全球票据持有人相同的福利

11/81536398_4 50(或其相关部分)或最终票据(视属何情况而定)，可予以兑换，犹如该永久全球票据或最终票据是在发行日发行的一样。付款任何人无权就本临时全球票据所代表的票据收取在交易所日期或之后到期的任何付款，除非在正式出示本临时全球票据以供交换时，发行人或其代表不当扣留或拒绝交付永久全球票据或最终票据(视属何情况而定)。就D Rules票据在交易所日期前到期的付款，只可就本临时全球票据的名义金额支付，而该临时全球票据的证明日期不得早于该付款到期日。就本临时全球票据支付的任何款项应在提示时支付给其持有人，并(如果没有进一步付款)将其交回发行和支付代理人或条件中规定的任何其他支付代理人的指定办事处，而如此支付的每一笔款项将解除发行人对此的义务。任何未能在本文所指的相关结算系统的记录中记入的事项，不应影响该项清偿。如就本临时全球票据所代表的任何票据支付任何全数或部分本金，发行人应促使该等付款详情按比例载入相关结算系统的记录内，而在作出任何该等记项后，本临时全球票据所代表的有关票据的面值须减去如此赎回的票据的总面值。如果就本临时全球票据所代表的票据支付了任何其他款项，发行人应促使将每笔付款的记录按比例记录在相关结算系统的记录中。就就本临时全球票据所作的任何付款而言，条件7.7(非营业日)的“营业日”的定义不适用于“在有关交单地点”的字样。注销本临时全球票据所代表的任何票据如为注销条件所要求(赎回时除外)，发行人应促使注销详情按比例载入相关结算系统的记录内，而在作出任何此等记项后，本临时全球票据所代表的票据的面值须减去如此注销的票据的总面值。尽管有第15条(通知)的规定，本临时全球票据所代表的票据所需发出的通知可以交付(只要本临时全球票据是代表欧洲结算和/或卢森堡Clearstream或任何其他获准结算系统持有)给EuroClear、Clearstream、卢森堡或其他获准结算系统(视情况而定)或以其他方式发给本临时全球票据持有人的方式发出，而不是按照条件的要求以公布的方式发出。本临时全球票据的任何规定不得改变或损害发行人在按照条件到期时支付票据本金、溢价和利息的义务。在发行和支付代理人或其代表认证并由相关结算系统指定为共同安全保管人的实体履行之前，临时全球票据在任何目的下均无效或成为强制性的。11/81536398_4 51本临时全球票据和由此产生或与之相关的任何非合同义务应受英国法律管辖。

11/81536398_4 52为证，本临时全球票据已由发票人代表其正式签署。日期截至发行日期。[发行人]发行人：认证证书这种临时全球票据由发行和支付代理或其代表认证。汇丰银行有限公司作为发行和支付代理：授权签字人仅供认证之用。本临时全球票据由共同保管人或代表共同保管人完成。

常见安全措施

作为共同保管人：授权签字人仅为履行的目的。任何负有这一义务的美国人将受到美国所得税法的限制，包括国内税法第165(J)条和第1287(A)条规定的限制。11/81536398_4 53时间表[插入相关条款[最终条款/定价补充资料]与条件或作为附表的全球票据有关的事项]11/81536398_4 54第四部分NGN永久全球票据格式

国家电网配电(东米德兰)PLC[国家电网配电(南威尔士)PLC]/[国网配电(西南)PLC]/[国家电网配电(西米德兰兹郡)PLC]/[(根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号]欧元中期票据方案永久全球票据永久全球票据编号[02366923]/[02366985]/[02366894]/[03600574]本永久全球纸币是就本协议附表A部分所述的S一批及系列的债券(“债券”)发行的[•]发行人[(“发行者”)。解释和定义本永久全球票据中对“条件”的引用是指适用于票据的条款和条件(其格式载于发行人和作为受托人的汇丰公司信托(英国)有限公司于2023年8月_日修订和重述的信托契约(“信托契约”)附表4(票据的条款和条件)所载的格式，该格式已被本永久全球票据的规定补充和/或修改和/或取代(包括补充定义和本永久全球票据A部分所载的任何修改或增补)，在发生任何冲突的情况下以其为准)。本永久全球票据中使用的其他大写术语应具有条件或信托契约中给予它们的含义。总票面金额本永久全球票据不时的总票面金额应相等于不时载入欧洲结算及卢森堡Clearstream(统称为“相关结算系统”)记录内的票据的总票面金额，并须视乎情况而定完成及/或修订(I)在最初代表票据的临时全球票据的记录中记录的全部或部分权益的交换(如属发行时由临时全球票据代表的票据)，(Ii)发行本永久全球票据(如属发行时由本永久全球票据代表的票据)、(Iii)全部或(在有限情况允许的情况下)兑换本永久全球最终票据的一部分及/或(Iv)赎回或购买及注销本票据，详情如下。10 11/81536398_4 55在此规定的前提下，发行人承诺向本永久全球票据的持票人支付所收到的金额，本永久全球票据一经出示及(如本永久全球票据并无其他到期款项)于到期日(或在根据条件赎回时可根据条件赎回应付款项的较早日期)交回时，须就本永久全球票据所代表的票据面值总额支付赎回时应支付的款额，并(除非本永久全球票据并不计息)就该等票据支付利息，利率、兑付日期及按照本条件所规定的计算方法，但债券总额连同根据该等条件而须支付的其他款项及额外款额(如有的话)，则须按照有关条件计算。交易所本永久全球票据可于交易所日期或之后全部兑换(对持有人免费)，但如本永久全球票据是代表欧洲结算或卢森堡Clearstream或任何其他获准结算系统(“另类结算系统”)持有，且任何该等结算系统连续14天(法定或其他原因除外)关闭营业，或宣布有意永久停业或确实这样做，则不能部分兑换最终票据。任何此类交换均可在交易日或之后，由本永久全球票据的持有者将本永久全球票据交还给发行和付款代理或按其命令进行。作为本永久全球票据的交换，发行人应交付或促使交付经正式签立及认证的最终票据，总面值相当于提交交换的本永久全球票据的面值(如适用，已附上尚未就本永久全球票据支付的利息的所有息票(及(如适用)爪子))、印制并基本上按信托契据附表所载格式印制并经本信托契据A部分条款补充及/或修订及/或取代的抵押品。条件利益除本协议另有规定外，发行人须在受条件及信托契约规限下取得该等利益，直至将整张永久全球票据兑换为最终票据或注销为止，该永久全球票据持有人在各方面均有权享有相同利益，犹如其为可交换的最终票据持有人，以及犹如该等最终票据已于发行日发行一样。任何人无权就本永久全球票据所代表的票据收取在此类票据的交换日期后到期的任何付款，除非在正式出示本永久全球票据以供交换时，发行人或其代表不当地扣留或拒绝交付最终票据，或发行人没有履行或履行任何一项或多项最终票据项下的义务。 就该永久性全球票据支付的款项应在发行人指定办事处出示并（如果无需进一步付款）交回后支付给持有人， ]11/81536398_4 56付款代理人或条件中规定的任何其他付款代理人，如此支付的每一笔款项将解除出票人对此的义务。任何未能在本文所指的相关结算系统的记录中记入的事项，不应影响该项清偿。发行人应促使每笔付款的细节按比例载入相关结算系统的记录中，如属本金支付，且在作出任何该等记项时，记录在相关结算系统记录中并由本永久全球票据代表的票据面值须减去如此赎回的票据的面值总额。就本永久全球票据所作的任何付款而言，在条件7.7(非营业日)的营业日定义中，“在有关交单地点”的字样不适用。关于本永久全球票据的本金和利息(均在条件中定义)的法定债权将无效，除非在适当的相关日期起十年(本金)和五年(如果是利息)内出示以供支付。就任何票据持有人会议而言，本永久全球票据持有人应视为对票据指定货币的每个整数货币单位有一票投票权。只有在购买票据时，发行人才能购买该票据，并有权获得未来的所有利息付款。发行人的选择权条件中规定的发行人的任何选择权，应由发行人在条件规定并包含条件所要求的信息的时限内，向发行和支付代理、票据持有人和相关结算系统发出通知(或促使该通知以其的名义发出)，但通知不应要求包含在部分行使选择权的情况下提取的票据的序列号，因此无需提取票据。在部分行使期权的情况下，拥有清算系统的会计持有人对票据的权利将受欧洲结算公司和/或卢森堡Clearstream的标准程序管辖，并应酌情作为集合系数或名义金额减少反映在欧洲结算公司和/或卢森堡Clearstream的记录中。在行使任何此类选择权后，发行人应促使记录在相关结算系统记录中并由本永久全球票据代表的票据的名义金额应相应减少。11/81536398_4 57票据持有人的选择权条件中规定的任何票据持有人的选择权可由本永久全球票据的持有人在与向付款代理人存入票据有关的时限内向付款代理人发出通知而行使，但该通知不需包含已行使选择权的票据的证书号码。尽管有第15条(通知)的规定，本永久全球票据所代表的票据所需发出的通知可以交付(只要本永久全球票据是代表欧洲结算和/或卢森堡Clearstream和/或替代结算系统持有)给EuroClear、Clearstream、卢森堡和/或该替代结算系统(视情况而定)的方式发出，或以其他方式向本永久全球票据的持有人发出，而不是按照条件的要求以公布的方式发出。可流转性本永久全球纸币为无记名票据，可转让，因此：(A)可自由地以交付方式转让，此种转让应赋予受让人与本票据有关的一切权利和利益，并根据条件约束受让人与本票据有关的所有义务；(B)与所有以前的持有人相比，本永久全球票据的持有人有绝对权利收取赎回时应付的所有款项、利息或以其他方式就本永久全球票据支付的款项，而发行人已放弃该持有人及本永久全球票据的任何先前持有人就本永久全球票据所证明的义务而将会或可能获得的所有抵销或反索偿权利；及(C)本永久全球票据一经如期出示，本文件所规定的付款将对该持有人及本永久全球票据的所有先前持有人具有良好的清偿作用。本永久全球票据的任何规定不得改变或损害发行人在按照条件到期时支付票据本金、溢价和利息的义务。 本永久全球票据以及由此产生或相关的任何非合同义务应受英国法律管辖。

11/81536398_4 58为证，发行人已促使本永久全球票据以其名义正式签署。日期截至发行日期。

发行人[由：认证证书这种永久全球钞票由发行和支付代理或其代表认证。汇丰银行有限公司作为发行和支付代理：授权签字人仅供认证之用。本永久全球票据由共同保管人或代表共同保管人完成。]常见安全措施[作为共同保管人：授权签字人仅为履行的目的。任何负有这一义务的美国人将受到美国所得税法的限制，包括国内税法第165(J)条和第1287(A)条规定的限制。11/81536398_4 59时间表]插入相关条款[最终条款/定价补充资料[这与条件或作为时间表的全球笔记有关。]11/81536398_4 60第5部分全球证书格式]

除非本证书由CDS清算和托管服务公司的授权代表出示。(“CDS”)至[国家电网配电(东米德兰)PLC]/[国家电网配电(南威尔士)PLC]/[国网配电(西南)PLC]/[国家电网配电(西米德兰兹郡)PLC](“发卡人”)或其代理登记转账、兑换或付款，并以CDS&Co.的名义或CDS授权代表要求的其他名称登记(任何款项均向CDS&Co.支付)。或CDS授权代表要求的其他实体)，任何人或向任何人转让、质押或以其他方式使用本证书是错误的，因为本证书的注册持有人CDS&Co.在本证书所代表的证券中拥有财产权益，而另一人持有、转让或处理本证书是对其权利的侵犯。[02366923]/[02366985]/[02366894]/[03600574]本证券不是也不会根据1933年修订后的《美国证券法》(以下简称《证券法》)或任何其他适用的美国州证券法登记，或向美国任何州或其他司法管辖区的任何证券监管机构登记，因此，不得在美国境内或向美国人提供或出售，或为美国人的账户或利益提供或销售，除非符合代理协议和信托契约，以及根据证券法登记豁免，或根据证券法下的有效登记声明。本图例在本纸币所属部分的所有纸币派发完成后的40天期间届满时停止适用。[•]国家电网配电(东米德兰)PLC[国家电网配电(南威尔士)PLC]国网配电(西南)PLC

国家电网配电(西米德兰兹郡)PLC

(根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号[欧元中期票据方案全球证书全球证书编号：]本全球证书是就本证书附表A部分所指明的一批及系列债券(“债券”)的上述面额而发行的[发行人](“发行者”)[1.本全球证书证明[名列注册纪录册的人]CDS&Co.作为CDS的提名者]

(“注册持有人”)已登记为1的持有人。如在CDS持有的票据，请在全球证书的正面填上票据的标题、CUSIP、发行日期及ISIN。11/81536398_4 61发行面额、指定货币及指定面额的纸币[在本协议附表A部中[在上面]/[。解释及定义本全球证书中所指的“条件”是指适用于票据的条款及条件(该等条款及条件载于发行人与汇丰企业信托(英国)有限公司作为受托人于2023年8月_日订立的经修订及重述的信托契约(“信托契据”)附表4所载的格式，该等格式会被本全球证书的条文(包括补充定义及本证书附表A部分所载的任何修改或增补)所补充及/或修订及/或取代，如有任何冲突，则以该等格式为准)。本全球证书中使用的其他大写术语应具有条件或信托契约中给予它们的含义。承诺向发行者支付已收到的价值，承诺在出示时向本全球证书所代表的票据的持有人支付，并(当没有就本全球证书所代表的票据进一步付款的情况下)在到期日(或在根据条件赎回时应支付的金额根据条件可变得可根据条件偿还的较早日期)交出本全球证书所代表的票据的应付金额，以及(除非本证书所代表的票据不计息)就该等票据支付利息(除非本证书所代表的票据不产生利息)，在付款日期，并按照条件中规定的计算方法，但计算方法是根据本全球证书所代表的票据的总金额，连同根据条件可能应支付的其他款项和额外金额(如有)，按照条件进行计算。每笔款项将于紧接付款日期前的结算系统营业日，于收市时登记于登记册上的人士或按其指示支付，结算系统营业日指星期一至星期五(包括十二月二十五日及一月一日除外)。就本全球证书而言，(A)本全球证书所代表的票据的持有人受代理协议的条文约束，(B)发行者证明注册持有人于本证书日期已登记为本全球证书所代表的票据的持有人，(C)本全球证书仅为权利的证据，(D)本全球证书所代表的票据的所有权仅在正式登记时转移，及(E)只有本全球证书所代表的票据的持有人有权就本全球证书所代表的票据获得付款。转让以永久全球证书为代表的纸币如果本协议的附表载明该等纸币将由一张永久的全球发行证书代表，则根据条件2.2(已登记纸币的转让)，持有本全球证书所代表的纸币的转让只可部分进行：(A)]/[如本全球证书所代表的票据是代表欧洲结算或卢森堡Clearstream或任何其他结算系统(CDS除外)(“替代结算系统”)持有，而任何该等结算系统因节假日(法定或其他原因除外)连续14天关闭营业，或宣布有意永久停业或事实上已这样做]/[如果本全球证书所代表的票据是以CDS的名义持有的，并且(I)CDS已通知发行人它不愿意或不能继续作为CDS的托管人，请使用此替代方案在EuroClear/Clearstream或CDS以外的其他清算系统进行票据结算。10]11/81536398_4 62发行人在收到通知后90个工作日内没有指定票据和后续托管机构；或(Ii)根据适用的加拿大或省级证券法，CDS不再是认可结算机构，并且在发行人意识到CDS不再获得认可后90个工作日内，没有令受托人满意的后续清算系统可用]3或(C)经出票人同意，但在根据上述(A)项首次转让部分持有量的情况下，本全球证书所代表的票据持有人已在其指定办事处向注册官发出不少于30天的通知，表明该持有人有意进行此类转让。如果本全球证书所代表的票据的持有仅可全部转让，则在转让该持有时向受让人发放的证书应为全球证书。在允许部分转让的情况下，发给受让人的证书不得为全球证书，除非受让人向登记处提出请求，并向注册官证明它是或正在作为Clearstream、卢森堡、欧洲结算和/或替代结算系统的代名人。发行人的选择权与行使条件6.5(发行人选择赎回及行使发行人选择权)所载的选择权有关，本全球证书所代表的票据可按发行人根据条件指定的本金部分赎回，而将不会按条件所规定选择赎回的票据。票据持有人的选择权条件中规定的票据持有人的任何选择权，可由票据持有人于条件所载有关将票据存放于付款代理人的时限内通知发行及付款代理人而行使，通知形式主要为可从任何付款代理人处取得的通知，惟通知不须载有已行使选择权的票据的证书编号。在行使任何该等选择权后，发行人应促使记录在相关结算系统记录中并由永久全球证书代表的票据的面值应减去相关行使通知中所述的总面值。尽管有条件15(通知)，只要本全球证书是代表EuroClear、Clearstream、卢森堡、CDS或任何其他结算系统(“替代结算系统”)持有的，向本全球证书所代表的票据持有人发出的通知可通过将相关通知交付给EuroClear、Clearstream、卢森堡、CDS或(视情况而定)该替代结算系统的方式发出。权利的确定本全球证书仅是权利的证据，不是所有权文件。权利由登记册确定，只有票据持有人有权获得关于本全球证书的付款。会议3对加拿大CDS清算系统中的票据结算使用这种替代方案。11/81536398_4 63就任何票据持有人会议而言，本全球证书所代表的票据持有人应被视为有权就票据指定货币的每个整数货币单位投一票。在注册官或其代表认证之前，本全球证书在任何目的下均无效，且仅就在NSS下持有的已登记票据而言，由相关结算系统指定为共同保管人的实体完成。本全球证书及由此产生或与之相关的任何非合同义务应受英国法律管辖。本全球证书由发行方代表其签署，特此为证。日期截至发行日期。[发行人]/[4由：认证证书本全球证书由注册官或其代表认证。]/[汇丰银行股份有限公司]/[加拿大代理商名称]作为注册官：仅用于认证目的的授权签字人。[02366923]/[02366985]/[02366894]/[03600574]本全球证书由共同安全管理员或其代表完成[•][常见安全措施[作为共同保管人：仅为完成通过新系统持有的已登记票据的目的而授权签字人]5、4 CDS要求和“湿墨水”签名原件。不能使用主备注5删除CDS中保存的备注]11/81536398_4 64已签署转账至………………………………………的价值转账表格。………………………………………。(请用印刷体或打字填写受让人姓名和地址)[本全球证书所代表的票据的名义金额及其下的所有权利。注明日期的………………………………………。签名的……………………………………。认证签名说明：(A)完成转让的人的签名应符合本全球证书所代表的票据持有人提供的正式授权的签名样本列表，或(如果该签名与本全球证书表面的名称相对应)由公证机构或认可银行认证，或由转让代理或注册处处长合理要求的其他证据支持。(B)票据持有人的代表应说明他签署遗嘱执行人的身份。11/81536398_4 65附表][插入相关条款]最终条款/定价补充资料[与条件或作为时间表的全球证书有关的条款。][11/81536398_4 66附表2正面的最终不记名票据格式：]面额[词条]2 (b) [系列

证书。不是的。]货币和面额[国家电网配电(东米德兰)PLC]国家电网配电(南威尔士)PLC[国网配电(西南)PLC][国家电网配电(西米德兰兹郡)PLC](根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号[)欧元中期票据方案系列编号：[发行名称]本附注是上述一系列附注(以下简称“附注”)的其中一种]发行人

(“发卡人”)，如本合同标题所述。该等票据须受本附注所批注的条款及条件(“该等条件”)规限，并受该等条件所述信托契约的规限及受惠而发行。条件中定义的表达在本附注中具有相同的含义。本票票面价值的出票人承诺于本票到期日(或在根据该等条件赎回时须支付的款额按照该等条件须予偿还的较早日期)向本票据的持票人出示并(如无就本票再付款项的情况下)在到期日(或在根据该等条件赎回时须支付的款额的较早日期)按该等条件所规定的利率、款额及付款日期支付利息，以及根据该等条件须支付的其他款项及额外款额(如有的话)，自开始付息日起支付利息，符合条件的。本票据在未经签发及付款代理人或其代表认证前，不得为任何目的而成为有效或有义务的票据。11/81536398_4 67本提单由发票人代表其签署，特此为证。日期截至发行日期。[•]发行人[由：认证证书本票据由签发和付款代理或其代表认证。汇丰银行有限公司作为发行和支付代理：授权签字人仅供认证之用。任何负有这一义务的美国人将受到美国所得税法的限制，包括国内税法第165(J)条和第1287(A)条规定的限制。[11/81536398_4 68背面：附注的条款及条件]经修订的信托契据附表4(附注的条款及条件)所载的条款及条件，以及加入构成该等条款及条件一部分的任何附加条文，并列于有关的]

最终条款/定价补充资料[须在此列明。][发行和支付代理][发行和支付代理][付款代理][···11/81536398_4 69附表3正面证书格式：][国家电网配电(东米德兰)PLC]/[国家电网配电(南威尔士)PLC]/[国网配电(西南)PLC]/[国家电网配电(西米德兰兹郡)PLC](根据1985年《公司法》在英格兰和威尔士注册成立为有限责任公司，注册编号[02366923]/[02366985]/[02366894]/[03600574])欧元中期票据方案系列编号：[•][发行名称]本证书证明[的](“登记持有人”)在本合约日期已登记为[名义金额]上述系列债券(以下简称“债券”)的

发行人[(“发卡人”)，如本合同标题所述。该等票据须受本附注所批注的条款及条件(“该等条件”)规限，并受该等条件所述信托契约的规限及受惠而发行。条件中定义的词语在本证书中具有相同的含义。对于收到的价值，出票人承诺在出示时向本证书所代表的票据(S)的持有人(S)支付，并(如没有就本证书所代表的票据(S)的进一步付款到期)在到期日(或在根据条件赎回时应支付的款项按照条件可成为可予偿还的较早日期)交出本证书所代表的票据的应付款额，并(除非本证书所代表的票据(S)不产生利息)就该等票据支付利息，自到期利息起始日起按利率计算，在该等条件所规定的款额及付款日期，连同根据该等条件可予支付的其他款项及额外款额(如有的话)，按照该等条件。就本证书而言，(A)本证书所代表的票据(S)的持有人受代理协议的条文约束，(B)出票人证明登记持有人在本证书日期当日已作为本证书所代表的票据(S)的持有人记入登记册，(C)本证书仅作为权利的证据，(D)本证书所代表的票据(S)的所有权仅在正式登记于登记册时转移，及(E)只有本证书所代表的纸币(S)的持有人有权就本证书所代表的纸币(S)收取款项。在注册官或其代表认证之前，本证书不得为任何目的而生效。[11/81536398_4 70发行人已代表其签署本证书，以资证明。 日期自发行日期起。 ]发行人]作者： 认证证书本证书由注册官或代表注册官认证。 汇丰银行有限公司担任注册员： 授权签署人仅用于认证目的。 11/81536398_4 71背面：票据条款和条件 [经修订的信托契据附表4(附注的条款及条件)所载的条款及条件，以及加入构成该等条款及条件一部分的任何附加条文，并列于有关的]最终条款/定价补充资料[S]须在此列明。[11/81536398_4110 6.5按发行人的选择赎回及行使发行人的选择权6.5.1如(I)有关最终条款订明剩余持有认购期权，及(Ii)如于任何时间赎回或购买及注销原先发行的票据面值总额的剩余持有百分比(载于相关最终条款)或以上，则发行人有权按其剩余持有赎回金额(于相关最终条款中订明)全部赎回该等未偿还票据，但不能赎回部分。除非相关最终条款另有规定，否则剩余持有赎回金额将由独立财务顾问计算，方法是将债券的未偿还面值及截至到期日的剩余利息支付(如适用)按相当于基准收益率(相关最终条款中规定的百分比)的年利率(以百分率表示，最接近千分之一个百分点(一半向上舍入))计算，基准收益率为基准证券在指定赎回日期前第三个营业日收盘时的收益率，加上基准利差(有关最终条款中规定)。如果规定的计算期限不到一年，则应使用基准日计数分数(如相关最终术语中规定的)进行计算。发行人将根据本条件6.5.1向票据持有人和受托人发出不少于15天但不超过30天的不可撤销通知。6.5.2如果相关最终条款中规定了看涨期权，除非已根据条件6.6或6发出行使通知，否则发行人可以。任何该等票据的赎回将以其可选择的赎回金额连同截至(但不包括可选择的赎回日期)的应计利息一并赎回。任何该等赎回或行使的票据，其面值必须最少相等于有关最终条款所规定的最低面值(如有)，且不得高于有关最终条款所规定的最高面值(如有)。发出通知所涉及的所有票据，须按照本条件于通知所指明的日期赎回或行使发行人的选择权。如属部分赎回或部分行使发行人选择权，则发给票据持有人的通知亦须载有不记名票据的序号，或如属记名票据，则须指明已提取的记名票据的面值及将予赎回的登记票据的持有人(S)，该等记名票据须在受托人批准的地点以其认为适当的方式提取，并须符合任何适用法律、上市当局及证券交易所的规定。6.5.3如有关最终条款订明完整赎回选项，除非已根据第6.6或6.7条发出行使通知，否则发行人可于任何完整赎回日期(S)向票据持有人发出不少于15天但不超过30天的不可撤销通知(或相关最终条款可能指定的其他通知期限)，赎回或行使与全部或部分该等票据有关的任何发行人选择权。任何该等票据赎回的金额须相等于以下较高者，于11/81536398_4111每宗个案连同应累算的利息(但不包括完整的赎回日期)：(I)票据的面值；及(Ii)(A)票据的面值乘以价格(由发行人委任的财务顾问(“财务顾问”)以书面向发行人及受托人报告并经受托人批准的价格)，以百分率(四舍五入至最接近的第五位小数位，0)表示。任何该等赎回或行使的票据，其面值必须最少相等于有关最终条款所规定的最低面值(如有)，且不得高于有关最终条款所规定的最高面值(如有)。发出通知所涉及的所有票据，须按照本条件于通知所指明的日期赎回或行使发行人的选择权。在部分赎回或部分行使发行人选择权的情况下，发给票据持有人的通知还应包含待赎回票据的序列号，该序列号应在受托人批准的地点以其认为适当的方式绘制(或待赎回票据将由加拿大支付代理人(在相关最终条款中指定)以加拿大支付代理人认为适当并经受托人批准的方式选择)，并符合任何适用法律、结算系统、上市当局和证券交易所的要求。在这种情况下：“加拿大收益率价格”指在债券赎回日期(“收益率决定日期”)之前的一个营业日计算的价格，该价格等于将赎回的债券的所有预定未偿还本金和利息的预定付款的净现值(不包括赎回日期应计利息的任何部分)，自相关最终条款指定的赎回日期至票面赎回开始日期为止(并为此目的，假设，债券将于票面值生效日期到期)，折现率为加拿大政府收益率加相关最终条款所列任何适用的赎回保证金。）的收益率 ]/[11/81536398_4 112到期日，由发行人选择的两家主要加拿大投资交易商截至中午提供（多伦多时间）在收益率确定日，作为不可赎回加拿大政府债券如果在加拿大以加元发行，将具有的收益率，按该日期本金额的100%支付，到期期限最接近于看涨期权开始日期的剩余期限。 “总赎回收益率”是指根据财务顾问向受托人建议的当时普遍接受的市场实践计算的收益率。 6.6.重组事件后票据持有人选择赎回 6.6.1.6对该重组事件不再具有任何进一步的效力。(2)如在任何债券仍未清偿期间的任何时间发生重组事件，且(受条件6.6.1(I)的规限)：(A)在重组期间内：(A)如在该重组事件发生时有评级证券，则该重组事件的评级下调(定义见下文)；或(B)如当时并无评级证券，则该重组事件的负面评级事件(定义见下文)亦发生；及(B)独立财务顾问须已以书面向受托人证明其认为该重组事件对票据持有人的利益有重大损害(“否定证明”)，则除非在任何时间发行人已根据第6.5条发出通知或持有人已根据第6.7条(如适用)发出通知，否则每张票据的持有人在发出认沽事项通知(定义如下)时，可选择(“认沽期权”)要求发行人赎回或由发行人选择，于卖出日期(定义见下文)购买(或促使购买)该票据，按其可选择的赎回金额(在相关最终条款中指明)连同(或如购买，连同相等于卖出日期(但不包括)应计利息(如有)的款额)。 任何负面证明均应为决定性的，并对受托人、发行人和票据持有人具有约束力。经受托人批准，发行人可随时为本条件6.6的目的任命独立财务顾问。如在评级下调或负面评级事件(视属何情况而定)发生后五个营业日内，就重组事件而言，发行人不得为条件6.6.1(Ii)(B)的目的委任独立财务顾问，而(如受托人要求)受托人就该顾问的费用获得弥偿及/或预先提供资金及/或担保至令其满意，则受托人可在与发行人磋商后，为此目的委任独立财务顾问。6.6.2。在发行人知悉认沽事件(定义见下文)已发生后，在任何情况下不得迟于认沽事件发生后14天，发行人应按照条件15向票据持有人发出通知(“认沽事件通知”)，条件15列明认沽事件的性质及行使重组认沽期权的程序，如持有当时未偿还票据面值至少四分之一的持有人提出要求，发行人应随时向受托人发出通知。6.6.3。要行使重组认沽期权，票据持有人必须遵守条件6.7的规定。就条件6.7而言，适用于重组认沽期权的通知期应为发出认沽事项通知后45天的期间(“认沽期间”)。在有关票据持有人符合条件6.7的规限下，除非先前赎回或购买有关票据，否则发行人须于认沽期间届满日期(“认沽日期”)后第15天赎回或按发行人的选择购买(或促使购买)有关票据。6.6.4。就这些条件而言：(1)“配电许可证”是指根据“电力法”第6(1)(C)条颁发的配电许可证。(2)“配电服务区”，就发行人而言，是指在2001年10月1日根据1989年《电力法》(经2000年公用事业法第30条修订)第6(L)(C)条发给发电商的配电许可证中所指明的区域，截至该配电许可证的日期。(3)在以下情况下，“负面评级事件”须当作已经发生：(1)发行人在有关重组事件的日期之前或之后14天内，没有向评级机构寻求并随即尽一切合理努力取得该发行人的债券的评级或该发行人的任何其他无抵押及无附属债务的评级，而该债券或其他无抵押及无附属债务的初始到期日为5年或以上，或(2)如发行人寻求并使用该等努力，则由于该重组事件而不能取得最少投资级(BBB-/Baa3)的评级，或暂时各自的等价物)。(4)“看跌期权事件”发生于(1)重组事件、(2)评级下调或负面评级事件(视属何情况而定)及(3)相关负面认证的最后发生日期。(5)“评级机构”指S全球评级欧洲有限公司或其任何附属公司及其继承人，或穆迪投资者服务有限公司或其任何附属公司及其继承人，或发行人经受托人事先书面批准不时取代其中任何一项的任何评级机构(或任何准许的替代机构)。]/[11/81536398_4 114（6）如果任何评级机构赋予评级证券当时的当前评级，则应视为重组事件已发生“评级下调”（无论是评级机构应发行人邀请提供还是自愿提供）被撤回或降低投资级评级（BBB-/Baa 3）（或其目前各自的同等评级，或更好）至非投资级评级（BB+/Bal）（或其目前各自的同等评级）或更差，或如果评级机构已将评级证券评级低于投资级（如上所述），则评级被降低一个完整评级类别或更多。 (7)“评级证券”是指票据，如果在任何时候且只要票据具有评级机构的评级，以及发行人的任何其他初始到期日为五年或以上且经评级机构评级的无担保和非次级债务。3；或(B)对发电商根据有关法例获授权及赋权在配电服务区内分配电力的条款及条件作出的任何修改(正式、轻微或技术性质的修改除外)，除非该发电商的两名董事已真诚地向受托人证明经修改的条款及条件对该发电商的业务并无重大不利影响；或(C)制定任何法例(不论是主要的或附属的)，以删除、限定或修订(正式的、次要的或技术性的修订除外)商业、能源及工业策略国务大臣(或任何继承人)及/或气体及电力市场管理局(或任何继承人)根据《1989年电力法令》(经《公用事业法令》2000年修订)(该法令可不时修订)第3A条下的职责，除非该发行人的两名董事真诚地向受托人证明，限制或修改不会对发行人的财务状况产生实质性的不利影响。如果评级机构根据本条件6.6的规定进行相关评级下调，或在适用情况下拒绝分配至少投资级的评级，但没有应发行人的要求(应下一段所述)宣布或公开确认或书面通知发行人降低评级或在适用的情况下拒绝分配至少投资级的评级是全部或部分结果，则评级下调、负面评级事件或非投资级评级应被视为不是作为重组事件的结果发生的。包括在适用的重组事件中或由于适用的重组事件而引起的任何事件或情况。发行人承诺在该项下调或(如适用)拒绝给予至少投资级评级后立即联络有关评级机构，以确认该项下调或拒绝给予至少投资级评级是否全部或部分是由于适用重组事件所包含或出现的任何事件或情况所致。发行人在收到相关评级机构的任何此类确认后，应立即通知受托人。6.7.票据持有人可选择赎回假若有关最终条款订明认沽期权，发行人须在该票据持有人向发行人发出不少于15天但不超过30天的通知后(或相关最终条款所指定的其他通知期间)赎回该票据，于可选择的赎回日期(S)(于有关最终条款中指定)按其可选择的赎回金额(于相关最终条款中指定)赎回该票据，连同指定赎回日期应计的利息。 未经发行人事先同意，不得撤回如此存放的票据或证书以及行使的期权（代理协议规定的除外）。 6.8.取消根据上述任何条款兑换的所有票据将连同附带的所有未到期优惠券和未兑换的Talons一起立即被取消。发行人或其任何子公司购买的所有票据可根据发行人的选择由发行人持有，或可与所有未到期的息票及其附带的所有未交换的Talon一起交回付款代理以取消，但不得转售，且当由发行人或其任何各自的子公司持有时，持有人无权在任何票据持有人会议上投票并且就计算票据持有人会议法定人数或就条件12而言，不应被视为未决。 ]/[11/81536398_4 116 7付款及支付令7.1付款：不记名票据的本金及利息的付款，如以下所述，将于有关票据(如属本金的所有付款，如属利息，则按第7.6.4条所述)或息票(如属利息，但第7.6.4条所指明的除外)(视属何情况而定)出示并交回有关票据后，在美国以外任何付款代理人的指定办事处，凭一张以该付款到期的货币付款的支票支付，或，根据持有人的选择，转入以该货币计价的账户，在该货币的主要金融中心的银行开立；但在欧元的情况下，转账应在银行可以使用T2的城市。7.2记名票据：(A)记名票据的本金须在任何转让代理人或司法常务官的指定办事处出示及交回有关证书后，按下文(B)段所规定的方式支付。(B)已登记票据的利息须于缴款到期日(记录日期)的前一天收市时，支付予登记册所列人士。每张记名纸币的利息须以有关货币支付，支付方式为银行开出支票，并按登记册所载该纸币的地址邮寄予该纸币的持有人(或联名持有人的首名)。持票人在记录日期前向书记官长或任何转让代理人的指定办事处提出申请后，可通过向收款人在银行开立的有关货币账户转账的方式支付利息。7.3尽管有上述规定，如果任何票据是以美国面值的 7.4付款须遵守财政法律等。除第8条规定外，付款在任何情况下均须遵守付款地任何适用的财政或其他法律、法规和指令，发行人不承担此类法律、法规、指令或协议征收的任何性质的任何税款或关税。不得就该等付款向票据持有人或息票持有人收取佣金或费用。7.5代理人的委任发行人最初委任的发证及付款代理人、付款代理人及计算代理人及其各自的指定办事处如下。发行和支付代理、支付代理、注册处处长、转让代理和计算代理仅作为发行人的代理，不为或与任何持有人承担11/81536398_4117代理或信托的任何义务或关系。发行人保留在获受托人批准下随时更改或终止发行及付款代理人、任何其他付款代理人、注册官、任何转让代理人或计算代理人的委任的权利，以及委任额外或其他付款代理人或转让代理人的权利，但发行人须时刻维持(A)发行及付款代理人，(B)登记纸币的注册官。(C)与已登记票据有关的转让代理人；。(D)在欧洲某主要城市设有指明办事处的付款代理人(可以是发行及付款代理人)；。(E)如条件如此规定，计算代理人；。(F)只要票据在任何证券交易所上市或获任何其他有关当局接纳上市，付款代理人在任何其他有关证券交易所、上市当局或其他有关当局的规则及规例所规定的地点设有指明办事处，。以及(G)只要票据在欧洲结算和卢森堡Clearstream以外或之外的结算系统中进行清算，则为能够按照该结算系统的规则和程序向该结算系统付款的支付代理人。 此外，在第7.3条所述情况下，发行人应立即在纽约市就任何以美元计价的票据任命付款代理人。 任何此类变更或任何指定职位的任何变更的通知应根据第15条立即发送给票据持有人。 7.6未到期优惠券和未兑换的爪7.6.1在任何票据赎回到期日后，与该票据相关的未到期优惠券（无论是否附有）将无效，并且不得就其付款。 7.6.2在任何票据赎回到期日后，与该票据相关的任何未交换的Talon（无论是否附有）将无效，并且不得就该Talon交付任何优惠券。 7.6.3如任何票据规定有关息票于赎回该等票据的到期日失效，而该票据并无所有未到期的息票而出示以供赎回，而任何票据并无任何未兑换的爪子与之相关，则只可根据发行人所要求的弥偿而作出赎回。7.6.4如任何票据的赎回到期日并非付息到期日，则自上一付息到期日或利息开始日期(视属何情况而定)起计的利息，只须于代表该票据的有关票据或证书出示(及在适当情况下交回)时支付。只有在到期日之后才产生利息的票据的应计利息，应在出示该票据时赎回该票据时支付。7.7非营业日如任何票据或息票的任何付款日期并非营业日，则持有人无权获得付款至下一个营业日，亦无权获得有关延迟付款的任何利息或其他款项。在本款中，“营业日”是指银行和外汇市场开业的日子(星期六或星期日除外)。]11/81536398_4118在相关提交地开业，在相关最后条款中指定为“金融中心”的管辖区内，以及：7.7.1(如果是以欧元以外的货币付款)，付款方式是转账到以相关货币在银行开设的账户，在该账户上可以用相关货币在该货币所在国家的主要金融中心进行外汇交易(就澳元而言，该货币是悉尼)；或7.7.2(如果是欧元付款)，这是T2营业日。7.8在构成就任何票据发行的息票单一部分的最后息票的利息支付日期或之后，构成该息票单一部分的爪子可向发行及支付代理人的指定办事处交出，以换取另一张息票单(但不包括根据条件9可能已失效的任何息票)。发票人或其代表就票据及息票支付的所有本金及利息，将不会因联合王国或联合王国的任何政治分区或联合王国任何有权征税的当局或联合王国任何有权征税的当局所征收或征收的任何现时或将来的税项或税项而扣缴或扣除，除非法律强制如此扣缴或扣除，则属例外。尽管条款和条件或信托契约有任何其他规定，由发票人或其代表就票据支付的任何金额，将在扣除根据经修订的1986年《美国国税法》(下称《守则》)第1471(B)节所述的协议或依据守则第1471至1474节(或其下的任何法规或其官方解释)或美国与促进其实施的另一司法管辖区之间的政府间协议(或任何财政或监管立法)所施加或要求的任何扣除或扣缴后支付。实施这种政府间协定的规则或做法)(任何此类扣缴或扣减，“FATCA扣缴”)。出票人或任何其他人士均不会被要求就FATCA扣缴支付任何额外金额。11/81536398_4119在本条件下，就任何票据或息票而言，“有关日期”是指就该票据或息票首次到期付款的日期，或(如任何应付款项被不当扣留或拒绝)全数付款的日期，或(如较早)根据条件15正式向票据持有人发出通知的日期，即在根据条件再次出示票据(或相关证书)或息票时，将作出付款，但该项付款事实上是在出示时作出的。 9.针对发行人就票据和息票（就此目的，不包括Talons）付款而提出的规定索赔应被规定并无效，除非在相关日期起10年（就本金而言）或5年（就利息而言）内提出付款。 (d)清盘：通过决议或英国法院做出最终命令，并且在可能的情况下，在90天内不解除或中止发行人清盘或解散;或（e）执行程序：扣押是对发行人的全部或几乎全部资产或承诺进行的，并且该扣押在90天内不会解除或取消或财产继承人接管或行政或其他接管人或类似机构 [02366923]/[02366985]/[02366894]/[03600574]11/81536398_4120对发行人的全部或基本上全部资产或业务任命高级职员，或对发行人作出遗产管理或类似命令，而这种接管、任命或命令在90天内没有解除、解除或取消；或(F)破产：发行人停止经营其全部或基本上所有业务，或无力偿还《1986年破产法》第123(1)(E)条或第123(2)条所指的债务；或(G)破产：发行人被其注册所在国家的有管辖权的法院判定破产或无力偿债，但在(B)段的情况下，受托人应证明其认为该事件对票据持有人的利益有重大损害。11执行受托人可酌情决定在无须另行通知的情况下，对发行人提起其认为合适的行动、步骤或法律程序，以执行根据票据或信托契约对发行人具有约束力的任何义务、条件或规定，但除非：(A)已由特别决议或持有至少四分之一未偿还票据本金的持有人以书面指示如此行事，否则受托人无须这样做；及(B)已获弥偿及/或担保及/或预先提供令受托人满意的款项。任何票据持有人或代用券持有人均无权直接对发行人提起该等诉讼、步骤或法律程序，除非受托人在60天内未能或不能按上述规定行事，且该等失职或无行为能力仍在持续。12.票据持有人会议、修改和替换12.在任何该等会议上妥为通过的特别决议，对所有票据持有人(不论他们是否出席通过该决议的会议)及票息持有人均具约束力，但任何特别决议建议，除其他事项外，(A)修订债券的到期日或赎回日期，或修订债券的利息支付日期，(B)减少或取消债券的面值或赎回债券时须支付的溢价，(C)降低债券的一个或多个利率，或更改计算一个或多个利率或利息款额的方法或基准，或更改计算债券的任何利息款额的基准；。(D)如票据面值显示最低及/或最高利率，则降低任何该等最低及/或最高利率；。(E)更改计算最终赎回金额、提早赎回金额或可选择的赎回金额的任何方法，。(F)采取本附注所指明的任何步骤，而本附注所指明的任何步骤，只有在特别法定人数条文适用的特别决议案批准后方可采取，及(G)修改有关任何票据持有人会议所规定的法定人数或通过特别决议案所需的过半数的规定，只有在出席票据持有人会议(或该会议的任何续会)有特别法定人数(定义见信托契约)的情况下方具约束力。持股比例不低于95%的股东签署的书面决议。该批债券的面值为11/81536398_4121，对所有债券持有人及票息持有人均具约束力。12.2修改信托契约受托人可在未经债券持有人或债券持有人同意的情况下，同意(A)对信托契约、票据、息票或此等条件的任何条文作出任何正式、轻微或技术性的修改，或作出任何旨在纠正明显错误的修改，及(B)对信托契约、票据、息票或此等条件的任何条文作出任何其他修改(信托契约所述者除外)，以及放弃或授权违反或建议违反信托契约、票据、息票或此等条件的任何条文，而受托人认为该等修改对票据持有人的利益并无重大损害。此外，受托人有义务同意发行人在未经债券持有人和债券持有人同意或批准的情况下，在条件4.10中作出合理努力，以实施任何基准修订。任何该等修改、授权或豁免对所有票据持有人及联票持有人均具约束力，如受托人要求，有关修改应在切实可行范围内尽快通知票据持有人。12.3替代信托契约载有条文，容许受托人在信托契约的有关修订及受托人可能要求的其他条件下，同意在未经债券持有人或联票持有人同意的情况下，以任何其他公司取代发行人或任何先前被取代的公司，作为信托契约及票据下的主要债务人。在这种替代的情况下，受托人可在未经票据持有人或息票持有人同意的情况下同意更改管理票据、息票、魔爪及/或信托契约的法律，但受托人认为该等更改不会对票据持有人的利益造成重大损害。4受托人在行使其职能(包括但不限于本条件所述的职能)方面的权利受托人应将票据持有人的利益作为一个类别来考虑，不得考虑这种行使对个别票据持有人或联票持有人的后果，受托人无权要求，也无权要求任何票据持有人或联票持有人就其行使职能对个别票据持有人或联票持有人的任何税务后果作出任何赔偿或付款。13更换票据、证书、优惠券和利爪如果票据、证书、优惠券或利爪遗失、被盗、毁损、污损或销毁，可在适用法律、上市当局和证券交易所规定的情况下，在该其他付款代理人的指定办事处更换(就无记名票据而言，代用券)及发行人不时为此目的而指定的登记官或转让代理人(如属证书)，并在申索人支付与更换有关的费用及费用后，按照条件15向票据持有人发出有关其指定的通知，并按有关证据、保证及弥偿的条款(如[•][11/81536398-4122除其他外，可规定，如果据称遗失、被盗或销毁的纸币、证书、优惠券或塔龙随后被出示付款，或(视情况而定)换取更多的证书、优惠券，则应应要求向发卡人支付发卡人就该等票据、优惠券或更多优惠券应支付的金额)，以及发卡人可能要求的其他情况。损坏或污损的纸币、优惠券或魔爪必须在更换前交出。14发行人可不时未经票据持有人或息票持有人同意而增发票据，发行条款及条件与票据相同，因此该等进一步发行的票据须合并，并与该等票据组成单一系列。除文意另有所指外，此等条件中对票据的提述包括(除文意另有所指外)根据本条件发行并与票据组成单一系列的任何其他票据。与信托契据或任何补充契据组成的附注组成单一系列的任何该等额外附注，以及任何其他附注，均可(经受托人同意)由信托契据组成。信托契约载有条文，规定如受托人决定，可召开债券持有人及其他系列债券持有人的单一会议。15发给已登记票据持有人的通知应邮寄至他们在登记册上各自的地址，并视为已于邮寄日期后的第四个工作日(星期六或星期日除外)发出。向不记名票据持有者发出的通知，如果在英国发行的每日英文报纸(预计是英国《金融时报》)上发表，则有效。如受托人认为任何该等刊物并不切实可行，则如在另一份在欧洲发行的主要英文日报上刊登通知，通知即属有效。如上所述，任何此类通知应被视为在发表之日发出，如果发表不止一次或在不同日期发出，则应被视为在首次发表之日发出。就所有目的而言，票据持有人应被视为已知悉根据本条件向票据持有人发出的任何通知的内容。16受托人的弥偿信托契据载有对受托人的弥偿及免除其责任的条文，包括但不限于免除其以下责任的条文：(A)委任独立财务顾问及(B)提起法律程序以强制偿还款项，除非获得令其满意的弥偿。受托人有权与发行人或其任何附属企业、母企业、合营企业或相联企业进行业务交易，而无须就该等交易所产生的任何利润作出交代，并有权担任发行人或其任何附属企业、母企业、合营企业或相联企业发行的任何其他证券的持有人的受托人。17《1999年合同法(第三方权利)法》任何人都无权执行《1999年合同法(第三方权利)法》规定的附注的任何条款或条件。11/81536398_4123 18适用法律和管辖权18.1附注、优惠券和由此产生或与之相关的任何非合同义务受英国法律管辖，并应按照英国法律解释。18.2英格兰法院对解决因票据引起或与票据有关的任何争议(“争议”)拥有专属司法管辖权。18.3发行人同意英格兰法院是解决任何争议的最适当和最方便的法院，因此，它不会提出相反的论点。18.4此条件18并不妨碍受托人或任何票据持有人在任何其他具司法管辖权的法院提起与争议有关的法律程序(“法律程序”)。在法律允许的范围内，受托人或票据持有人可以在任何数量的司法管辖区同时提起诉讼。]11/81536398_4124附表5正面优惠券格式：[•]发行人[•]欧元中期票据计划系列编号：[发行名称]优惠券[列出到期的款额(如知道的话)]/金额

到期日期[利息支付日期落在]面额票据的票面利率[**本息票须于票据背面所列的发行及付款代理人的指定办事处(或正式委任或提名并通知票据持有人的任何其他发行及付款代理人或其他付款代理人或其他付款代理人)的指定办事处(或正式委任或提名并知会债券持有人的任何其他发行及付款代理人或其他付款代理人或指定办事处)，支付予不记名人士(受与本券有关的票据所批注的条件规限，该条件对票据持有人具有约束力，不论该票据是否当其时附于该票据上)。[如与本息票有关的票据在本息票到期日前到期及应付，则本息票即告失效，并不会就此作出任何付款。]*任何持有这一义务的美国人将受到美国所得税法的限制，包括美国国税法第165(J)和1287(A)条规定的限制。]

发行人[•]发信人：[CP。不是的。]. [面额[ISIN]]系列[证书。不是的。][11/81536398_4 125背面：发行和付款代理 ][•]付款代理[S]*只有在利息支付日期根据营业日公约进行调整的情况下才有必要，否则应指明特定的利息支付日期。[S][•]**只适用于发行超过一种面额的浮动利率或指数挂钩利息债券的息票。

*如代用券在提早赎回债券时不会失效，则删去。

11/81536398_4 126计划表6爪子形式在正面：

发行人

欧元中期票据计划系列编号：[发行名称]Talon要求进一步的息票将于

利息支付日期落在

与名义金额的纸币有关的爪子

**在与本塔龙有关的票据的所有息票到期后，在出示及交出本塔龙时，须于本塔龙背面所列的发行及付款代理人的指定办事处(或任何其他正式委任或提名并通知票据持有人的其他发行及付款代理人或指定职位)发出更多息票(如适用，包括另一张票券)。如果与本爪子有关的票据在兑换本爪子的原定到期日之前到期并支付，则本爪子将失效，不得就其进行兑换。任何负有这一义务的美国人将受到美国所得税法的限制，包括国内税法第165(J)条和第1287(A)条规定的限制。

发行人

发信人：

塔龙号。[ISIN] + [系列]证书。不是的。

11/81536398_4127背面：发行和付款代理[*如知悉有关息票的到期日，应列明有关息票的到期日，否则应参考付息日期到期的月份和年份。] + [**只有在该系列包含超过一种面额的纸币时才需要。]11/81536398_4 128附表7有关票据持有人会议的条文释义1.在本附表中：(A)凡提及会议，即指由有关发行人发行的一个或多个系列票据的票据持有人会议，并除文意另有所指外，包括任何延会；。(B)凡提及“票据”及“票据持有人”之处，只分别指已召开或将召开会议的该一个或多个票据系列的票据，以及该等票据的持有人；。(C)“代理人”指投票证书持有人或票据持有人的代表或代表；(D)“全体投票指示”指根据第8至14段发出的指示；(E)“电子平台”指任何形式的电话或电子平台，包括但不限于电话和视像会议及应用技术系统；(F)“特别决议”指根据本信托契约正式召开及举行的会议上以至少75%的多数通过的决议。(G)“混合会议”是指有关发行人或受托人根据本附表召开的实体会议和虚拟会议的综合会议，出席者可在会议通知中指定的实际地点或通过电子平台出席；(H)“会议”指有关发行人或受托人根据本时间表召开的会议，不论是作为实体会议、虚拟会议还是混合会议举行；(I)“委托书”具有下文第9(F)段所赋予的含义；(J)“所需比例”指下文第19段表格所示的债券比例；(K)“虚拟会议”指任何透过电子平台举行的会议；(L)“投票证书”指按照第5、6、7及14段发出的证书；及(M)凡提及占债券一定比例的人士，指持有或代表当时未偿还债券面值至少该比例的债券持有人或代理人。会议的权力2.在符合条件和不损害本信托契约授予他人的任何权力的情况下，会议有权通过非常决议：11/81536398_4 129(A)批准与条件12(票据持有人会议、变更和替代)所列保留事项有关的提案；(B)批准有关发行人或受托人就票据持有人和/或债券持有人针对相关发行人的权利提出的任何修改、废除、更改或妥协或安排的任何提案，不论该等权利是否根据本信托契据产生；(C)同意有关发行人或受托人建议对本信托契据、票据、支票券或息票所作的任何修改；。(D)授权任何人(包括受托人)同意及作出任何必需的事情，以执行和实施非常决议；。(E)给予非常决议所规定的任何授权、指示或制裁；。(F)委任任何人士(不论是否票据持有人)为代表票据持有人利益的一个或多个委员会，并授予他们票据持有人本身可藉非常决议行使的任何权力或酌情决定权；。(G)批准建议的新受托人及罢免受托人；。(H)(本信托契据第15.2条所准许的除外)批准以任何实体取代有关发行人(或以前的任何替代者)作为本信托契据下的主要债务人；。及(I)免除或免除受托人根据本信托契据、附注、附注或息票可能须负责的任何作为或不作为的任何责任，惟第19段的特别法定人数规定适用于就第2(B)或2(H)分段而言的任何特别决议案(“特别法定人数决议案”)、条件12.1(票据持有人会议)所列的任何建议或对本但书的任何修订。召开会议3.有关发行人或者受托人可以随时召集会议。如果它收到持有至少10%的票据持有人的书面请求。按当其时未偿还的任何系列债券的面值计算，并已获得弥偿及/或抵押及/或预筹资金至令其满意的所有费用及开支，受托人须召开该系列债券持有人会议。每次会议均须在受托人批准的日期、时间及地点举行。4.不记名票据的票据持有人、付款代理人及注册官须就已登记票据(连同副本予有关发行人)，给予票据持有人及付款代理人最少21天的通知(不包括发出通知当日及会议日期)。召集会议的一方应将通知的副本发给其他各方。通知应指明会议的日期、时间和地点，除非受托人另有同意，否则应说明拟提出的决议的性质，并应解释票据持有人如何任命代表或代表、获得投票证书和使用集体表决指示以及适用时间限制的细节。投票的安排[11/81536398_4130 5.不记名票据持有人如欲取得会议的表决证书，必须在定出的会议时间前至少48小时，或按付款代理人的命令，将该证书存放于付款代理人为此目的而指定的银行或其他托管机构。然后，付款代理人应就其签发一份表决证书。6.表决证书须：(A)为英文文件；(B)注明日期；(C)指明有关的会议及存放的笔记的编号；及(D)有权并述明其持有人有权出席该会议并就该等笔记表决。7.付款代理人在就票据发出会议表决证书后，不得发放该票据，直至：(A)会议已结束；或(B)投票证书已交回付款代理人。8.如不记名承付票持有人希望在某次会议的集体表决指示内载有可归因于该承付票的票数，则须在所定的会议时间至少48小时前，(I)为此目的而将该承付票存放于付款代理人或付款代理人为此目的而指定的银行或其他托管机构；及(Ii)他或获其正式授权的人必须指示付款代理人如何投票。付款代理人须就如此存放的所有票据的票数发出集体表决指示。9.集体表决指示应：(A)为英文文件；(B)注明日期；(C)指定有关会议的日期；(D)列出交存的笔记的总数和序号，并就每项决议区分投票赞成和反对的人；(E)证明该清单符合第8、11和14段所规定的交存的笔记和收到的指示；及(F)指定一位具名人士(“代表”)在该次会议上就该笔记并按照该清单投票。委托书持有人不必是票据持有人。10.付款代理人一经就可归因于任何票据的票数发出会议集体表决指示：(A)除第11段所规定者外，不得在会议结束前公布该等票据；及11/81536398_4131(B)该指示生效的指示，不得在定出的会议时间前48小时内撤销或更改。11.按照第8段存放于付款代理人处的票据的收据，如在定出的会议时间至少48小时前交回付款代理人，付款代理人须发放该票据，并将可归因于该票据的票数排除在集体表决指示之外。12.每份集体表决指示须在定出的会议时间前最少24小时，存放于受托人指定或批准的地点；如没有作出集体表决指示，则除非会议主席在会议开始处理事务前另作决定，否则该指示无效。如果受托人要求，受托人应在会议上出示经公证证明的每份集体表决指示的副本，但受托人不必调查或关心受托人的任命的有效性。13.按照集体表决指示作出的表决，即使该指示或据以签立该指示的票据持有人的任何指示先前已被撤销或修订，仍属有效，除非有关的发票人或受托人在其注册办事处或会议主席于所定的会议时间至少24小时前，接获有关付款代理人关于该项撤销或修订的书面通知。14.为第5段及第8段的目的，不得为同一会议同时向付款代理人交存钞票或按付款代理人的指示交存钞票。15.(A)挂号纸币持有人可在指定的会议时间前最少48小时，以书面形式委任任何人(代表)代其行事，而该文书须以英文在转让代理人的指定办事处备存，并由持有人或其代表签立，并在定出的会议时间前交付转让代理人。委托书持有人不必是票据持有人。(B)持有挂号纸币的法团，可在指定的会议时间至少24小时前，向转让代理人交付其董事或其他管治机构的决议案的核证副本(如非英文，则连同经核证的英文译本)，授权任何人在该会议上以其代表(“代表”)身分行事。主席16.会议的主席须由受托人以书面提名的人担任，但如没有作出该项提名，或如获提名的人在定出的会议时间后15分钟内没有出席，则出席的票据持有人或代理人须在他们当中选出一人担任主席，否则有关发行人可委任一名主席。董事长不必是票据持有人或代理人。延会会议的主席不必与原会议的主席是同一人。出席会议17.下列人士可出席会议并在会议上发言：(A)会议持有人及代理人；(B)主席；] + [11/81536398_4132(C)有关发行人及受托人(透过其各自的代表)及其各自的财务及法律顾问；。(D)交易商及其顾问；。(E)获会议或受托人批准的任何其他人；及。(F)就登记票据而言，注册处处长，或就不记名票据而言，为发行及付款代理人。其他人不得出席或发言。18.除非在会议开始时有足够法定人数出席，否则不得在会议上处理任何事务(选出主席除外)。如果在最初确定的会议时间后15分钟内没有法定人数出席，如果应票据持有人的要求召开会议，或者相关发行人和受托人同意，会议应被解散。如属其他情况，则须押后至主席决定的日期、不少于14日或多于42天的日期及时间及地点。如在如此延期的会议定出的时间起计15分钟内仍未达到法定人数，该会议即告解散。19.第1栏第2栏第3栏召开任何会议的目的除第3栏所指的会议外，以前因缺乏法定人数而休会的会议所需的法定人数三分之二三分之一才能通过超过50%的任何其他特别决议。没有最低比例，任何其他目的，10%。不设最低比例20.主席可在会议同意下不时及在另一地点将会议延期。按照本段或第18.21段休会的会议只能处理原会议原可在11/81536398_4133处理的事务。因会议因不足法定人数而延期的会议，须以与原会议相同的方式发出至少十天的通知，而该通知须载明延会所需的法定人数。但是，休会无需另行通知。投票22票。提交会议的每个问题均须以举手方式决定，除非主席、有关发行人、受托人或一名或多名持有一张或多张票数为2%的票据或投票证的人士(在举手表决结果宣布前)要求以投票方式表决。笔记中的。23.除非主席要求以投票方式表决，否则如主席宣布某项决议已获通过或未获通过，即为该事实的确证，而无须证明赞成或反对的票数或比例。24.如要求以投票方式表决，须按主席指示的方式及(除下文另有规定外)立即或在休会后进行。投票结果应被视为被要求投票的会议在投票之日的决议。以投票方式表决的要求不得阻止会议继续处理除被要求以投票方式表决的问题以外的事务。25.就选举主席或就休会问题要求以投票方式表决时，须立即进行。26.凡亲身出席并出示无记名票据、其为登记持有人的证明书或有表决权证明书或其代表或代表的人士，均有一票。在以投票方式表决时，每名该等人士对如此出示或代表的该系列票据的指定货币的每个整数货币单位均有一票投票权，而该等人士是该系列票据的代表或代表。在不损害代理人的义务的情况下，有权投一票以上的人不必全部使用或以相同的方式投票。27.在票数均等的情况下，主席在举手表决和投票表决时，除有权投其他票外，还有权投决定票。28.非常决议的生效和公布。特别决议案对所有票据持有人(不论是否出席会议)及所有债券持有人均具约束力，而他们均须相应地予以实施。 相关发行人应在14天内向票据持有人发出关于通过特别决议的通知，就不记名票据而言，就支付代理人发出关于通过特别决议的通知，就记名票据而言，就登记票据而言，就通过特别决议的通知，但未能这样做的情况并不使该决议无效。 29分钟。每次会议的所有决议和程序均应编制会议记录，如果据称由该会议或下一次后续会议的主席签署，则应作为其中事项的确凿证据。 除非并直至相反证明成立，否则每次已如此制作和签署会议记录的会议均应视为已正式召开和举行，而会议上通过的所有决议或处理的程序均应视为已正式通过和处理。 ]11/81536398_4134书面决议30.由持有未偿还债券面值不少於百分之九十五的持有人签署的书面决议，须犹如非常决议般生效。此种书面决议可以包含在一份文件或几份相同格式的文件中，每份文件都由一个或多个票据持有人或其代表签署。受托人订明第31条的权力。在本信托契约所有其他条文的规限下，受托人可在未经票据持有人同意的情况下，全权酌情厘定有关举行会议及出席会议及表决的其他规则，包括(但不限于)受托人认为合理的规定，以信纳声称根据本信托契约提出要求的人士有权如此行事，以及投票证或集体表决指示的格式，以信纳声称出席会议或在会议上投票的人士有权如此行事。32.本附表的前述条文在下列条文的规限下有效：(A)不同系列债券持有人的会议通常会分开举行。然而，受托人可不时决定将不同系列的票据持有人的会议一起举行。(B)受托人认为只影响一个系列的决议，如在有关系列的债券持有人的另一次会议上通过，应被视为已妥为通过。16(货币兑换)。(D)受托人认为影响多于一个系列的债券持有人，并在有关系列的债券持有人之间产生或可能引起利益冲突的决议案，只有在有关系列的债券持有人的不同会议上正式通过的情况下，才被视为已妥为通过。(E)本附表所有上述条文在加以必要的变通后，均适用于上述所有会议，犹如其中对附注及附注持有人的提述，即对有关系列的附注及附注持有人的提述一样。适用于虚拟会议和/或混合会议的附加规定33.有关发行人(经受托人事先批准)或受托人可全权酌情决定举行虚拟会议或混合会议，并在此情况下，须提供票据持有人或其代理人或代表出席会议、参与会议及/或在会上发言的详细资料，包括将使用的电子平台。34.相关发行人或主席(在每种情况下，均经受托人事先批准)或受托人可全权酌情作出任何安排及施加任何要求或限制，以确保识别有权参加虚拟会议或11/81536398_4135混合会议的人士，以及确保电子平台的适合性。所有需要通过电子平台(无论以何种身份)在虚拟会议的与会者或混合会议的与会者之间传递的文件均应通过电子邮件(或受托人批准的其他电子通信媒介)传递。35岁。提交虚拟会议或混合会议的所有决议均应按照上文第24-27段(包括这两段)以投票方式表决。36.寻求通过电子平台出席、参加、发言或参加虚拟会议或混合会议的人应负责确保他们能够使用必要的设施(包括但不限于信息技术系统、设备和连通性)。37.在确定人们是否通过电子平台出席、参加或加入虚拟会议或混合会议时，出席该会议的任何两个或两个以上成员是否彼此处于相同的物理位置或他们能够如何相互交流并不重要。38.两个或两个以上实际位置不同的人参加虚拟会议或混合会议，如果他们的情况是，如果他们有(或将有)在该会议上发言或投票的权利，他们就能够(或将能够)行使这些权利。39.会议主席保留采取主席根据其绝对酌情决定权决定的步骤以避免或尽量减少会议中断的权利，这些步骤可包括(但不限于)在虚拟会议或混合会议的情况下，在主席决定的一段时间内静音与造成这种干扰的人的会议的电子连接。40.有关发行人(经受托人事先批准)或受托人可全权酌情作出其认为适当的任何安排，以使出席虚拟会议或混合会议的人士可在会上行使其发言或表决的权利。41. 42.在以下情况下，一个人可以在虚拟会议或混合会议上行使投票权：（a）该人可以在会议期间对会议上提交投票的决议进行投票;和（b）在确定此类决议是否与出席会议的所有其他人士的投票同时通过时，可以考虑该人的投票有权在该会议上投票。 43.受托人对用于任何虚拟会议或混合会议的电子平台的安全、任何虚拟会议或混合会议的可访问性或连接性或缺乏可访问性或连接性，不对相关发行人或任何其他人负责或承担任何责任。 本契约于开头规定的日期交付。

签字人国家电网配电(东米德兰兹郡)PLC作为国家电网配电(东米德兰兹郡)PLC签署的契约)代理)...........................................................)董事)...........................................................)公司秘书签名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F国家电网配电(南威尔士)有限公司作为国家电网配电(南威尔士)PLC签立的地契)代理(...........................................................))董事)...........................................................)公司秘书文件签名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F

国家电网配电(西南)公司作为国家电网配电(西南)公司签署的契约)代理)...........................................................)董事)...........................................................)公司秘书签名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F国家电网配电(西米德兰兹)有限公司作为国家电网配电(西米德兰兹)有限公司签立的地契))代理(...........................................................))董事)...........................................................)公司秘书文件签名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F

11/81536398_4 100 (b) certifying that the Benchmark Amendments (if any) are necessary to ensure the proper operation of such Successor Rate or Alternative Rate and (in either case) any applicable Adjustment Spread. The Trustee and the Issuing and Paying Agent shall be entitled to rely on such certificate (without enquiry or liability to any person) as sufficient evidence thereof. The Successor Rate or Alternative Rate and the Adjustment Spread and the Benchmark Amendments (if any) specified in such certificate will (in the absence of manifest error in the determination of the Successor Rate or Alternative Rate and the Adjustment Spread and the Benchmark Amendments (if any) and without prejudice to the Trustee's and the Issuing and Paying Agent's ability to rely on such certificate as aforesaid) be binding on the Issuer, the Trustee, the Calculation Agent, the Paying Agents and the Noteholders. 4.10.6 Survival of Original Reference Rate Without prejudice to the obligations of the Issuer under Conditions 4.10.1, 4.10.2, 4.10.3 and 4.10.4, the Original Reference Rate and the fallback provisions provided for in Condition 4.2.3 will continue to apply unless and until the Issuer determines that a Benchmark Event has occurred and the relevant Paying Agent has been notified of the Successor Rate or the Alternative Rate (as the case may be), and any Adjustment Spread and Benchmark Amendments, in accordance with Condition 4.10.5. 4.10.7 Definitions As used in this Condition 4.10: "Adjustment Spread" means either (a) a spread (which may be positive, negative or zero) or (b) a formula or methodology for calculating a spread, in each case to be applied to the Successor Rate or the Alternative Rate (as the case may be) and is the spread, formula or methodology which: (a) in the case of a Successor Rate, is formally recommended in relation to the replacement of the Original Reference Rate with the Successor Rate by any Relevant Nominating Body; or (if no such recommendation has been made, or in the case of an Alternative Rate) (b) the Issuer, following consultation with the Independent Adviser or acting alone, as the case may be, determines is customarily applied to the relevant Successor Rate or the Alternative Rate (as the case may be) in international debt capital markets transactions to produce an industry-accepted replacement rate for the Original Reference Rate; or (if the Issuer determines that no such spread is customarily applied) (c) the Issuer, following consultation with the Independent Adviser or acting alone, as the case may be, determines is recognised or acknowledged as being the industry standard for over-the-counter derivative transactions which reference the Original Reference Rate, where such rate has been replaced by the Successor Rate or the Alternative Rate (as the case may be). "Alternative Rate" means an alternative benchmark or screen rate which the Issuer following consultation with the Independent Adviser, determines is customarily applied in international debt capital markets transactions for the purposes of determining floating rates of interest (or the relevant component part thereof) in the same Specified Currency as the Notes. 11/81536398_4 101 "Benchmark Amendments" has the meaning given to it in Condition 4.10.4. "Benchmark Event" means: (a) the Original Reference Rate ceasing to be published for a period of at least five Business Days or ceasing to exist; or (b) a public statement by the administrator of the Original Reference Rate that it has ceased or that it will cease publishing the Original Reference Rate permanently or indefinitely (in circumstances where no successor administrator has been appointed that will continue publication of the Original Reference Rate); or (c) a public statement by the supervisor of the administrator of the Original Reference Rate that the Original Reference Rate has been or will be permanently or indefinitely discontinued; or (d) a public statement by the supervisor of the administrator of the Original Reference Rate as a consequence of which the Original Reference Rate will be prohibited from being used either generally, or in respect of the Notes; or (e) the making of a public statement by the supervisor of the administrator of the Original Reference Rate that the Original Reference Rate is or will be (or is or will be deemed by such supervisor to be) no longer representative of its relevant underlying market; or (f) it has or will become unlawful for any Paying Agent, the Calculation Agent or the Issuer to calculate any payments due to be made to any Noteholders using the Original Reference Rate, provided that the Benchmark Event shall be deemed to occur (a) in the case of sub- paragraphs (2) and (3) above, on the date of the cessation of publication of the Original Reference Rate or the discontinuation of the Original Reference Rate, respectively, (b) in the case of sub-paragraph (4) above, on the date of the prohibition of use of the Original Reference Rate and (c) in the case of sub-paragraph (5) above, on the date with effect from which the Original Reference Rate will no longer be (or will be deemed by the relevant supervisor to no longer be) representative of its relevant underlying market and which is specified in the relevant public statement, and, in each case, not the date of the relevant public statement. "Independent Adviser" means an independent financial institution of international repute or an independent financial adviser with appropriate expertise appointed by the Issuer at its own expense under Condition 4.10.1 and notified in writing to the Trustee. "Original Reference Rate" means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes or, if applicable, any other Successor or Alternative Rate (or any component part thereof) determined and applicable to the Notes pursuant to the earlier operation of Condition 4.10. "Relevant Nominating Body" means, in respect of a benchmark or screen rate (as applicable): (a) the central bank for the currency to which the benchmark or screen rate (as applicable) relates, or any central bank or other supervisory authority which is

11/81536398_4 102 responsible for supervising the administrator of the benchmark or screen rate (as applicable); or (b) any working group or committee sponsored by, chaired or co-chaired by or constituted at the request of (a) the central bank for the currency to which the benchmark or screen rate (as applicable) relates, (b) any central bank or other supervisory authority which is responsible for supervising the administrator of the benchmark or screen rate (as applicable), (c) a group of the aforementioned central banks or other supervisory authorities or (d) the Financial Stability Board or any part thereof. "Successor Rate" means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body 5 Indexation This Condition 5 is applicable only if the relevant Final Terms specifies the Notes as Index Linked Notes. 5.1 Definitions For the purposes of Conditions 5.1 to 5.6, unless the context otherwise requires, the following defined terms shall have the following meanings: "Base Index Figure" means (subject to Condition 5.3(i)) the base index figure as specified in the relevant Final Terms; "CPI" means the UK Consumer Prices Index (for all items) published by the Office for National Statistics (January 2015 = 100) or any comparable index which may replace the UK Consumer Prices Index for the purpose of calculating the amount payable on repayment of the Indexed Benchmark Gilt (if any). Where CPI is specified as the Index in the relevant Final Terms, any reference to the "Index Figure" which is specified in the relevant Final Terms as: (a) applicable to the first calendar day of any month shall, subject as provided in Conditions 5.3 and 5.5, be construed as a reference to the Index Figure published in the second month prior to that particular month and relating to the month before that of publication; or (b) applicable to any other day in any month shall, subject as provided in Conditions 5.3 and 5.5, be calculated by linear interpolation between (x) the Index Figure applicable to the first calendar day of the month in which the day falls, calculated as specified in paragraph (i) above and (y) the Index Figure applicable to the first calendar day of the month following, calculated as specified in paragraph (i) above and rounded to the nearest fifth decimal place. "CPIH" means the all items consumer prices index including owner occupiers' housing costs and council tax for the United Kingdom published by the Office for National Statistics (January 2015 = 100) or any comparable index which may replace the all items consumer prices index including owner occupiers' housing costs and council tax for the United Kingdom for the purpose of calculating the amount payable on repayment of the Indexed Benchmark Gilt (if any). Where CPIH is specified as the Index in the relevant Final Terms, any reference to the "Index Figure" which is specified in the relevant Final Terms as: (a) applicable to the first calendar day of any month shall, subject as provided in Conditions 5.3 and 5.5, be construed as a reference to the Index Figure published in the second 11/81536398_4 103 month prior to that particular month and relating to the month before that of publication; or (b) applicable to any other day in any month shall, subject as provided in Conditions 5.3 and 5.5, be calculated by linear interpolation between (x) the Index Figure applicable to the first calendar day of the month in which the day falls, calculated as specified in paragraph (i) above and (y) the Index Figure applicable to the first calendar day of the month following, calculated as specified in paragraph (i) above and rounded to the nearest fifth decimal place; "His Majesty's Treasury" means His Majesty's Treasury or any officially recognised party performing the function of a calculation agent (whatever such party's title), on its or its successor's behalf, in respect of the Reference Gilt; "Index" means, subject as provided in Condition 5.3(i), either CPI, CPIH or RPI as specified in the relevant Final Terms; "Indexed Benchmark Gilt" means the index-linked Sterling obligation of the United Kingdom Government listed on the Official List of the Financial Conduct Authority (in its capacity as competent authority under the Financial Services and Markets Act 2000, as amended) and traded on the London Stock Exchange whose average maturity most closely matches that of the Notes as a gilt-edged market maker or other adviser selected by the Issuer (an "Indexation Adviser") shall determine to be appropriate; "Index Figure" has the definition given to such term in the definition of "CPI", "CPIH" or "RPI", as applicable; "Index Ratio" applicable to any month or date, as the case may be, means the Index Figure applicable to such month or date, as the case may be, divided by the Base Index Figure and rounded to the nearest fifth decimal place; "Limited Index Ratio" means (a) in respect of any month or date, as the case may be, prior to the relevant Issue Date, the Index Ratio for that month or date, as the case may be, (b) in respect of any Limited Indexation Date after the relevant Issue Date, the product of the Limited Indexation Factor for that month or date, as the case may be, and the Limited Index Ratio as previously calculated in respect of the month or date, as the case may be, twelve months prior thereto; and (c) in respect of any other month, the Limited Index Ratio as previously calculated in respect of the most recent Limited Indexation Month; "Limited Indexation Date" means any date falling during the period specified in the relevant Final Terms for which a Limited Indexation Factor is to be calculated; "Limited Indexation Factor" means, in respect of a Limited Indexation Month or Limited Indexation Date, as the case may be, the ratio of the Index Figure applicable to that month or date, as the case may be, divided by the Index Figure applicable to the month or date, as the case may be, twelve months prior thereto, provided that (a) if such ratio is greater than the Maximum Indexation Factor specified in the relevant Final Terms, it shall be deemed to be equal to such Maximum Indexation Factor and (b) if such ratio is less than the Minimum Indexation Factor specified in the relevant Final Terms, it shall be deemed to be equal to such Minimum Indexation Factor; "Limited Indexation Month" means any month specified in the relevant Final Terms for which a Limited Indexation Factor is to be calculated;

11/81536398_4 104 "Limited Index Linked Notes" means Index Linked Notes to which a Maximum Indexation Factor and/or a Minimum Indexation Factor (as specified in the relevant Final Terms) applies; "Redemption Date" means any date on which the Notes are redeemed in accordance with Condition 5.6, Condition 6.1, Condition 6.2, Condition 6.4, Condition 6.5, Condition 6.6 or Condition 6.7; "Reference Gilt" means the index-linked Treasury Stock/Treasury Gilt specified as such in the relevant Final Terms for so long as such gilt is in issue, and thereafter such issue of index- linked Treasury Stock/Treasury Gilt determined to be appropriate by an Indexation Adviser; and "RPI" means the UK Retail Prices Index (for all items) published by the Office for National Statistics (January 1987 = 100) or any comparable index which may replace the UK Retail Prices Index for the purpose of calculating the amount payable on repayment of the Reference Gilt. Where RPI is specified as the Index in the relevant Final Terms, any reference to the "Index Figure" which is specified in the relevant Final Terms as: (a) applicable to a particular month, shall, subject as provided in Conditions 5.3 and 5.5, be construed as a reference to the Index Figure published in the seventh month prior to that particular month and relating to the month before that of publication; or (b) applicable to the first calendar day of any month shall, subject as provided in Conditions 5.3 and 5.5, be construed as a reference to the Index Figure published in the second month prior to that particular month and relating to the month before that of publication; or (c) applicable to any other day in any month shall, subject as provided in Conditions 5.3 and 5.5, be calculated by linear interpolation between (x) the Index Figure applicable to the first calendar day of the month in which the day falls, calculated as specified in paragraph (ii) above and (y) the Index Figure applicable to the first calendar day of the month following, calculated as specified in paragraph (ii) above and rounded to the nearest fifth decimal place. 5.2 Application of the Index Ratio Each payment of interest and principal in respect of the Notes shall be the amount provided in, or determined in accordance with, these Conditions, multiplied by the Index Ratio or Limited Index Ratio in the case of Limited Index Linked Notes applicable to the month or date, as the case may be, in or on which such payment falls to be made and rounded in accordance with Condition 4.5. 5.3 Changes in Circumstances Affecting the Index (i) Change in base: If at any time and from time to time the Index is changed by the substitution of a new base therefor, then with effect from the month from and including that in which such substitution takes effect or the first date from and including that on which such substitution takes effect, as the case may be, (1) the definition of "Index" and "Index Figure" in Condition 5.1 shall be deemed to refer to the new date, or month or year (as applicable) in substitution for January 1987 (where RPI is specified as the Index in the relevant Final Terms) or 2015 (where CPI or CPIH is specified as the Index in the relevant Final Terms) (or, as the case may be, to such other date, month or year as may have been substituted therefor), and (2) the new Base Index Figure shall be the product of the existing Base Index Figure and the Index 11/81536398_4 105 Figure for the date on which such substitution takes effect, divided by the Index Figure for the date immediately preceding the date on which such substitution takes effect. (ii) Delay in publication of RPI if paragraph (i) of the definition of Index Figure for RPI is applicable: If the Index Figure which is normally published in the seventh month and which relates to the eighth month (the "relevant month") before the month in which a payment is due to be made is not published on or before the fourteenth Business Day before the date on which such payment is due (the "date for payment"), the Index Figure applicable to the month in which the date for payment falls shall be (1) such substitute index figure (if any) as the Trustee considers (acting solely on the advice of the Indexation Adviser) to have been published by the United Kingdom Debt Management Office or the Bank of England, as the case may be, (or such other body designated by the UK Government for such purpose) for the purposes of indexation of payments on the Reference Gilt or, failing such publication, on any one or more issues of index-linked Treasury Stock selected by an Indexation Adviser (and approved by the Trustee (acting solely on the advice of the Indexation Adviser)) or (2) if no such determination is made by such Indexation Adviser within seven days, the Index Figure last published (or, if later, the substitute index figure last determined pursuant to Condition 4.3(i)) before the date for payment. (iii) Delay in publication of relevant Index if paragraph (i) and/or (ii) of the definition of Index Figure for CPI or CPIH is applicable or if paragraph (ii) and/or (iii) of the definition of Index Figure for RPI is applicable: If the Index Figure relating to any month (the "calculation month") which is required to be taken into account for the purposes of the determination of the Index Figure for any date is not published on or before the fourteenth Business Day before the date on which such payment is due (the "date for payment"), the Index Figure applicable for the relevant calculation month shall be (1) such substitute index figure (if any) as the Trustee considers (acting solely on the advice of the Indexation Adviser) to have been published by the United Kingdom Debt Management Office or the Bank of England, as the case may be, (or such other body designated by the UK Government for such purpose) for the purposes of indexation of payments on the Reference Gilt or the Indexed Benchmark Gilt (as applicable) or, failing such publication, on any one or more issues of index-linked Treasury Stock selected by an Indexation Adviser (and approved by the Trustee (acting solely on the advice of the Indexation Adviser)) or (2) if no such determination is made by such Indexation Adviser within seven days, the Index Figure last published (or, if later, the substitute index figure last determined pursuant to Condition 4.3(i)) before the date for payment. 5.4 Application of Changes Where the provisions of Condition 5.3(ii) or Condition 5.3(iii) apply, the determination of the Indexation Adviser as to the Index Figure applicable to the month in which the date for payment falls or the date for payment, as the case may be, shall be conclusive and binding. If, an Index Figure having been applied pursuant to Condition 5.3(ii)(2) or Condition 5.3(iii)(2), the Index Figure relating to the relevant month or relevant calculation month, as the case may be, is subsequently published while a Note is still outstanding, then: (i) in relation to a payment of principal or interest in respect of such Note other than upon final redemption of such Note, the principal or interest (as the case may be) next payable after the date of such subsequent publication shall be increased or reduced, as the case may be, by an amount equal to the shortfall or excess, as the case may be, of the amount of the relevant payment made on the basis of the Index Figure applicable by virtue of Condition 5.3(ii)(2) or Condition 5.3(iii)(2) below or above the amount of the relevant payment that would have been due if the Index Figure

11/81536398_4 106 subsequently published had been published on or before the fourteenth Business Day before the date for payment; and (ii) in relation to a payment of principal or interest upon final redemption, no subsequent adjustment to amounts paid will be made. 5.5 Material Changes to or Cessation of the Index (i) Material changes to the relevant Index: (a) CPI and CPIH: Where CPI or CPIH is specified in the relevant Final Terms as the Index and: (1) if notice is published by His Majesty's Treasury, or on its behalf, following a change to the coverage or the basic calculation of such Index, then the Calculation Agent shall make any such adjustments to the Index consistent with any adjustments made to the Index as applied to the relevant Indexed Benchmark Gilt; or (2) any change is made to the coverage or the basic calculation of such Index which constitutes a fundamental change which would, in the opinion of either the Issuer or the Trustee (acting solely on the advice of an Indexation Adviser), be materially prejudicial to the interests of the Issuer or the Noteholders, as the case may be, the Issuer or the Trustee (as applicable) shall give written notice of such occurrence to the other party. Promptly after the giving of such notice, the Issuer and the Trustee (acting solely on the advice of the Indexation Adviser) together shall seek to agree for the purpose of the Notes one or more adjustments to CPI or CPIH (as applicable) or a substitute index (with or without adjustments) with the intention that the same should leave the Issuer and the Noteholders in no materially better and no materially worse position than they would have been had the relevant fundamental change to CPI or CPIH (as applicable) not been made. If the Issuer and the Trustee (acting solely on the advice of the Indexation Adviser) fail to reach agreement as mentioned above within 20 Business Days following the giving of notice as mentioned above, a bank or other person in London shall be appointed by the Issuer and the Trustee or, failing agreement on and the making of such appointment within 20 Business Days following the expiry of the 20 day period referred to above, by the Trustee (acting solely on the advice of the Indexation Adviser) (in each case, such bank or other person so appointed being referred to as the "Expert"), to determine for the purpose of the Notes one or more adjustments to CPI or CPIH (as applicable) or a substitute index (with or without adjustments) with the intention that the same should leave the Issuer and the Noteholders in no materially better and no materially worse position than they would have been had the relevant fundamental change to CPI or CPIH (as applicable) not been made. Any Expert so appointed shall act as an expert and not as an arbitrator and all fees, costs and expenses of the Expert and of any Indexation Adviser and of any of the Issuer and the Trustee in connection with such appointment shall be borne by the Issuer. 11/81536398_4 107 (b) RPI: Where RPI is specified in the relevant Final Terms as the Index and if notice is published by His Majesty's Treasury, or on its behalf, following a change to the coverage or the basic calculation of such Index, then the Calculation Agent shall make any such adjustments to the Index consistent with any adjustments made to the Index as applied to the Reference Gilt. (i) Cessation of the relevant Index: If the Trustee and the Issuer have been notified by the Calculation Agent that the relevant Index has ceased to be published, or if His Majesty's Treasury or the Office for National Statistics, as the case may be, or a person acting on its behalf, announces that it has ceased to publish the relevant Index, then the Calculation Agent shall determine a successor index in lieu of any previously applicable index (the "Successor Index") by using the following methodology: (a) if at any time a successor index has been designated by His Majesty's Treasury in respect of the Reference Gilt, such successor index shall be designated the "Successor Index" for the purposes of all subsequent Interest Payment Dates, notwithstanding that any other Successor Index may previously have been determined under paragraph (b) or (c) below. This provision will only be applicable when RPI is specified in the relevant Final Terms as the Index; or (b) the Issuer and the Trustee (acting solely on the advice of the Indexation Adviser) together shall seek to agree for the purpose of the Notes one or more adjustments to the Index or a substitute index (with or without adjustments) with the intention that the same should leave the Issuer and the Noteholders in no materially better and no materially worse position than they would have been had the Index not ceased to be published. If the relevant Final Terms specify RPI as the Index then this paragraph (b) will only be applicable provided the Successor Index has not been determined under paragraph (a) above; or (c) if the Issuer and the Trustee (acting solely on the advice of the Indexation Adviser) fail to reach agreement as mentioned above within 20 Business Days following the giving of notice as mentioned in the first paragraph under this Condition 5.5(ii) above, a bank or other person in London shall be appointed by the Issuer and the Trustee or, failing agreement on and the making of such appointment within 20 Business Days following the expiry of the 20 day period referred to above, by the Trustee (acting solely on the advice of the Indexation Adviser) (in each case, such bank or other person so appointed being referred to as the "Expert"), to determine for the purpose of the Notes one or more adjustments to the Index or a substitute index (with or without adjustments) with the intention that the same should leave the Issuer and the Noteholders in no materially better and no materially worse position than they would have been had the Index not ceased to be published. Any Expert so appointed shall act as an expert and not as an arbitrator and all fees, costs and expenses of the Expert and of any Indexation Adviser and of any of the Issuer and the Trustee in connection with such appointment shall be borne by the Issuer. (ii) Adjustment or replacement: The Index shall be adjusted or replaced by a substitute index pursuant to the foregoing paragraphs, as the case may be, and references in these Conditions to the Index and to any Index Figure shall be deemed amended in such manner as the Trustee (acting solely on the advice of the Indexation Adviser) and the Issuer agree are appropriate to give effect to such adjustment or replacement. Such amendments shall be effective from the date of such notification and binding

11/81536398_4 108 upon the Issuer, the Trustee and the Noteholders, and the Issuer shall give notice to the Noteholders in accordance with Condition 15 of such amendments as promptly as practicable following such notification or adjustment. 5.6 Redemption for Index Reasons If either (i) the Index Figure for three consecutive months is required to be determined on the basis of an Index Figure previously published as provided in Condition 5.3(ii)(2) or 5.3 (iii)(2), as applicable and the Trustee has been notified by the Calculation Agent that publication of the Index has ceased or (ii) notice is published by His Majesty's Treasury, or on its behalf, following a change in relation to the Index, offering a right of redemption to the holders of the Reference Gilt or the Indexed Benchmark Gilt (as applicable), and (in either case) no amendment or substitution of the Index shall have been designated by His Majesty's Treasury in respect of the Reference Gilt or the Indexed Benchmark Gilt (as applicable) to the Issuer and such circumstances are continuing, the Issuer may, upon giving not more than 60 nor less than 30 days' notice to the Noteholders (or such other notice period as may be specified in the relevant Final Terms) in accordance with Condition 15, redeem all, but not some only, of the Notes at their principal amount together with interest accrued but unpaid up to and including the date of redemption (in each case adjusted in accordance with Condition 5.2). 6 Redemption, Purchase and Options 6.1 Final Redemption Unless previously redeemed, purchased and cancelled as provided below, this Note will be redeemed at its Final Redemption Amount (which, unless otherwise provided, is its nominal amount) on the Maturity Date specified in the relevant Final Terms provided. 6.2 Redemption for Taxation Reasons If, on the occasion of the next payment in respect of the Notes the Issuer satisfies the Trustee immediately before the giving of the notice referred to below that it would be unable to make such payment without having to pay additional amounts as described in Condition 8, and such requirement to pay such additional amounts arises by reason of a change in the laws of the United Kingdom or any political sub-division of the United Kingdom or taxing authority in the United Kingdom or any political sub-division of the United Kingdom or in the interpretation or application of the laws of the United Kingdom or any political sub-division of the United Kingdom or in any applicable double taxation treaty or convention, which change becomes effective on or after the date on which agreement is reached to issue the first Tranche of the Notes, and such requirement cannot be avoided by the Issuer taking reasonable measures (such measures not involving any material additional payments by, or expense for, the Issuer), the Issuer may, at its option, at any time, having given not less than 30 nor more than 45 days' notice to the Noteholders (or such other notice period as may be specified in the relevant Final Terms) in accordance with Condition 15, redeem all, but not some only, of the Notes at their Early Redemption Amount together with interest accrued to the date of redemption provided that the date fixed for redemption shall not be earlier than 90 days prior to the earliest date on which the Issuer would be obliged to pay such additional amounts or make such withholding or deduction, as the case may be, were a payment in respect of the Notes then due. Prior to the publication of any notice of redemption pursuant to this Condition 6.2, the Issuer shall deliver to the Trustee a certificate signed by two Directors of the Issuer stating that the requirement referred to above cannot be avoided by the Issuer taking reasonable measures available to it and the Trustee shall be entitled to accept such certificate as sufficient evidence of the satisfaction of the condition precedent 11/81536398_4 109 set out above in which event it shall be conclusive and binding on all Noteholders and Couponholders. 6.3 Purchases The Issuer and any of its subsidiary undertakings may at any time purchase Notes (provided that all unmatured Coupons and unexchanged Talons appertaining to them are attached or surrendered with them) in the open market or otherwise at any price. 6.4 Early Redemption 6.4.1 Zero Coupon Notes (i) The Early Redemption Amount payable in respect of any Zero Coupon Note, the Early Redemption Amount of which is not linked to an index and/or a formula, upon redemption of such Note pursuant to Condition 6.2 or upon it becoming due and payable as provided in Condition 10 shall be the Amortised Face Amount (calculated as provided below) of such Note unless otherwise specified in the relevant Final Terms. (ii) Subject to the provisions of sub-paragraph (iii) below, the Amortised Face Amount of any such Note shall be the scheduled Final Redemption Amount of such Note on the Maturity Date discounted at a rate per annum (expressed as a percentage) equal to the "Amortisation Yield" (which, if none is specified in the relevant Final Terms, shall be such rate as would produce an Amortised Face Amount equal to the issue price of the Notes if they were discounted back to their issue price on the Issue Date) compounded annually. (iii) If the Early Redemption Amount payable in respect of any such Note upon its redemption pursuant to Condition 6.2 or, if applicable, Condition 6.5 or 6.6 or upon it becoming due and payable as provided in Condition 10, is not paid when due, the Early Redemption Amount due and payable in respect of such Note shall be the Amortised Face Amount of such Note as defined in sub-paragraph (ii) above, except that such sub-paragraph shall have effect as though the reference in that sub-paragraph to the date on which the Note becomes due and payable was replaced by a reference to the Relevant Date. The calculation of the Amortised Face Amount in accordance with this sub- paragraph shall continue to be made (both before and after judgment) until the Relevant Date, unless the Relevant Date falls on or after the Maturity Date, in which case the amount due and payable shall be the scheduled Final Redemption Amount of such Note on the Maturity Date together with any interest that may accrue in accordance with Condition 4.3. Where such calculation is to be made for a period of less than one year, it shall be made on the basis of the Day Count Fraction specified in the relevant Final Terms. 6.4.2 Other Notes The Early Redemption Amount payable in respect of any Note (other than Notes described in Condition 6.4.1), upon redemption of such Note pursuant to this Condition 6.4 or upon it becoming due and payable as provided in Condition 10, shall be the Final Redemption Amount unless otherwise specified in the relevant Final Terms.

11/81536398_4 110 6.5 Redemption at the Option of the Issuer and Exercise of Issuer's Options 6.5.1 If (i) Residual Holding Call Option is specified in the relevant Final Terms, and (ii) if at any time the Residual Holding Percentage (as specified in the relevant Final Terms) or more of the aggregate nominal amount of Notes originally issued shall have been redeemed or purchased and cancelled, the Issuer shall have the option to redeem such outstanding Notes in whole, but not in part, at their Residual Holding Redemption Amount (as specified in the relevant Final Terms). Unless otherwise specified in the relevant Final Terms, the Residual Holding Redemption Amount will be calculated by an independent financial advisor by discounting the outstanding nominal amount of the Notes and the remaining interest payments (if applicable) to the Maturity Date by a rate per annum (expressed as a percentage to the nearest one hundred thousandth of a percentage point (with halves being rounded up)) equal to the Benchmark Yield (as specified in the relevant Final Terms), being the yield on the Benchmark Security at the close of business on the third Business Day prior to the date fixed for such redemption, plus the Benchmark Spread (as specified in the relevant Final Terms). Where the specified calculation is to be made for a period of less than one year, it shall be calculated using the Benchmark Day Count Fraction (as specified in the relevant Final Terms). The Issuer will give not less than 15 nor more than 30 days' irrevocable notice to the Noteholders and the Trustee of any such redemption pursuant to this Condition 6.5.1. 6.5.2 If Call Option is specified in the relevant Final Terms, the Issuer may, unless an Exercise Notice has been given pursuant to Condition 6.6 or 6.7, as applicable, on giving not less than 15 nor more than 30 days' irrevocable notice to the Noteholders (or such other notice period as may be specified in the relevant Final Terms), redeem, or exercise any Issuer's option in relation to, all or, if so provided, some of such Notes on any Optional Redemption Date(s) or Option Exercise Date, as the case may be. Any such redemption of Notes shall be at their Optional Redemption Amount together with interest accrued up to but excluding the Optional Redemption Date. Any such redemption or exercise must relate to Notes of a nominal amount at least equal to the minimum nominal amount (if any) permitted to be redeemed specified in the relevant Final Terms and no greater than the maximum nominal amount (if any) permitted to be redeemed specified in the relevant Final Terms. All Notes in respect of which any such notice is given shall be redeemed, or the Issuer's option shall be exercised, on the date specified in such notice in accordance with this Condition. In the case of a partial redemption or a partial exercise of an Issuer's option, the notice to Noteholders shall also contain the serial numbers of the Bearer Notes, or in the case of Registered Notes shall specify the nominal amount of Registered Notes drawn and the holder(s) of such Registered Notes to be redeemed, which shall have been drawn in such place as the Trustee may approve and in such manner as it deems appropriate, subject to compliance with any applicable laws, listing authority and stock exchange requirements. 6.5.3 If Make-whole Redemption Option is specified in the relevant Final Terms as applicable, the Issuer may, unless an Exercise Notice has been given pursuant to Condition 6.6 or 6.7, on giving not less than 15 nor more than 30 days' irrevocable notice to the Noteholders (or such other notice period as may be specified in the relevant Final Terms), redeem, or exercise any Issuer's option in relation to, all or, if so provided, some of such Notes on any Make-whole Redemption Date(s). Any such redemption of Notes shall be at an amount equal to the higher of the following, in 11/81536398_4 111 each case together with interest accrued to but excluding the Make-whole Redemption Date: (i) the nominal amount of the Note; and (ii) (a) the nominal amount of the Note multiplied by the price (as reported in writing to the Issuer and the Trustee by a financial adviser (the "Financial Adviser") appointed by the Issuer and approved by the Trustee) expressed as a percentage (rounded to the nearest fifth decimal places, 0.000005 being rounded upwards) at which the Gross Redemption Yield to maturity on such Note (or, if a Par Call Commencement Date is specified in the relevant Final Terms, the Gross Redemption Yield to the Par Call Commencement Date) on the Determination Date specified in the relevant Final Terms is equal to the Gross Redemption Yield at the Quotation Time specified in the relevant Final Terms on the Determination Date of the Reference Bond specified in the relevant Final Terms (or, where the Financial Adviser advises the Trustee that, for reasons of illiquidity or otherwise, such Reference Bond is not appropriate for such purpose, such other government stock as such Financial Adviser may recommend) plus any applicable Redemption Margin specified in the relevant Final Terms; or (b) if Canada Yield Price is specified in the relevant Final Terms, (1) at any time prior to the Par Call Commencement Date, the Canada Yield Price and (2) at any time on or after the Par Call Commencement Date, but prior to the Maturity Date, the nominal amount of the Notes. Any such redemption or exercise must relate to Notes of a nominal amount at least equal to the minimum nominal amount (if any) permitted to be redeemed specified in the relevant Final Terms and no greater than the maximum nominal amount (if any) permitted to be redeemed specified in the relevant Final Terms. All Notes in respect of which any such notice is given shall be redeemed, or the Issuer's option shall be exercised, on the date specified in such notice in accordance with this Condition. In the case of a partial redemption or a partial exercise of an Issuer's option, the notice to Noteholders shall also contain the serial numbers of the Notes to be redeemed, which shall have been drawn in such place as the Trustee may approve and in such manner as it deems appropriate (or the Notes to be redeemed will be selected by the Canadian Paying Agent (as specified in the relevant Final Terms) in such manner as the Canadian Paying Agent deems appropriate and as approved by the Trustee), subject to compliance with any applicable laws, clearing systems, listing authority and stock exchange requirements. In this Condition: "Canada Yield Price" means the price, calculated on the business day preceding the redemption date of the Notes (the "Yield Determination Date") equal to the net present value of all scheduled payments of outstanding principal and interest on the Notes to be redeemed (not including any portion of the payment of interest accrued as of the redemption date) from the redemption date of the Notes to be redeemed to the Par Call Commencement Date specified in the relevant Final Terms (and assuming, for this purpose, that the Notes are scheduled to mature on the Par Call Commencement Date) using as a discount rate the Government of Canada Yield plus any applicable Redemption Margin specified in the relevant Final Terms. "Government of Canada Yield" means with respect to any redemption date, the arithmetic average (rounded to the nearest 1/100 of 1 per cent.) of the yield to

11/81536398_4 112 maturity, provided by two major Canadian investment dealers selected by the Issuer as at noon (Toronto time) on the Yield Determination Date, as the yields which a non- callable Government of Canada bond would carry if issued, in Canadian dollars in Canada, at 100 per cent. of its principal amount on such date with a term to maturity which most closely approximates the remaining term to the Par Call Commencement Date. "Gross Redemption Yield" means a yield calculated in accordance with generally accepted market practice at such time, as advised to the Trustee by the Financial Adviser. 6.6. Redemption at the Option of Noteholders following a Restructuring Event 6.6.1. If Restructuring Put Option is specified in the relevant Final Terms, and: (1) if, at any time while any of the Notes remains outstanding, a Restructuring Event (as defined below) occurs and prior to the commencement of or during the Restructuring Period (as defined below): (a) an independent financial adviser (as described below) shall have certified in writing to the Trustee that such Restructuring Event will not be or is not, in its opinion, materially prejudicial to the interests of the Noteholders; or (b) if there are Rated Securities (as defined below), each Rating Agency (as defined below) that at such time has assigned a current rating to the Rated Securities confirms in writing to the Issuer at its request (which it shall make as set out below) that it will not be withdrawing or reducing the then current rating assigned to the Rated Securities by it from an investment grade rating (BBB-/Baa3, or their respective equivalents for the time being, or better) to a non-investment grade rating (BB+/Bal, or their respective equivalents for the time being, or worse) or, if the Rating Agency shall have already rated the Rated Securities below investment grade (as described above), the rating will not be lowered by one full rating category or more, in each case as a result, in whole or in part, of any event or circumstance comprised in or arising as a result of the applicable Restructuring Event, the following provisions of this Condition 6.6 shall cease to have any further effect in relation to such Restructuring Event. (2) if, at any time while any of the Notes remains outstanding, a Restructuring Event occurs and (subject to Condition 6.6.1(i)): (a) within the Restructuring Period, either: (A) if at the time such Restructuring Event occurs there are Rated Securities, a Rating Downgrade (as defined below) in respect of such Restructuring Event also occurs; or (B) if at such time there are no Rated Securities, a Negative Rating Event (as defined below) in respect of such Restructuring Event also occurs; and (b) an independent financial adviser shall have certified in writing to the Trustee that such Restructuring Event is, in its opinion, materially prejudicial to the interests of the Noteholders (a "Negative Certification"), then, unless at any time the Issuer shall have given notice under Condition 6.5 or the holder shall have given notice under Condition 6.7 (if applicable), the holder of each Note will, upon the giving of a Put Event Notice (as defined below), have the option (the "Restructuring Put Option") to require the Issuer to redeem or, at the option of the Issuer, purchase (or procure the purchase of) that Note on the Put Date (as defined below), at its Optional Redemption Amount (specified in the relevant Final Terms) together with (or, where purchased, together with an amount equal to) interest (if any) accrued to (but excluding) the Put Date. 11/81536398_4 113 A Restructuring Event shall be deemed not to be materially prejudicial to the interests of the Noteholders if, notwithstanding the occurrence of a Rating Downgrade or a Negative Rating Event, the rating assigned to the Rated Securities by any Rating Agency is subsequently increased to, or, as the case may be, there is assigned to the Notes or other unsecured and unsubordinated debt of the Issuer having an initial maturity of five years or more by any Rating Agency, an investment grade rating ((BBB-/Baa3) or their respective equivalents for the time being) or better prior to any Negative Certification being issued. Any Negative Certification shall be conclusive and binding on the Trustee, the Issuer and the Noteholders. The Issuer may, at any time, with the approval of the Trustee appoint an independent financial adviser for the purposes of this Condition 6.6. If, within five business days following the occurrence of a Rating Downgrade or a Negative Rating Event, as the case may be, in respect of a Restructuring Event, the Issuer shall not have appointed an independent financial adviser for the purposes of Condition 6.6.1(ii)(b) and (if so required by the Trustee) the Trustee is indemnified and/or prefunded and/or secured to its satisfaction against the costs of such adviser, the Trustee may appoint an independent financial adviser for such purpose following consultation with the Issuer. 6.6.2. Promptly upon the Issuer becoming aware that a Put Event (as defined below) has occurred, and in any event not later than 14 days after the occurrence of a Put Event, the Issuer shall, and at any time upon the Trustee if so requested by the holders of at least one-quarter in nominal amount of the Notes then outstanding shall, give notice (a "Put Event Notice") to the Noteholders in accordance with Condition 15 specifying the nature of the Put Event and the procedure for exercising the Restructuring Put Option. 6.6.3. To exercise the Restructuring Put Option, the holder of a Note must comply with the provisions of Condition 6.7. The applicable notice period for the purposes of Condition 6.7, as applied to a Restructuring Put Option, shall be the period (the "Put Period") of 45 days after that on which a Put Event Notice is given. Subject to the relevant Noteholder having complied with Condition 6.7, the Issuer shall redeem or, at the option of that Issuer, purchase (or procure the purchase of) the relevant Note on the fifteenth day after the date of expiry of the Put Period (the "Put Date") unless previously redeemed or purchased. 6.6.4. For the purposes of these Conditions: (1) "Distribution Licence" means an electricity distribution licence granted under section 6(1)(c) of the Electricity Act. (2) "Distribution Services Area" means, in respect of a Issuer, the area specified as such in the distribution licence granted to it on 1 October 2001 under section 6(l)(c) of the Electricity Act 1989 (as amended by section 30 of the Utilities Act 2000), as of the date of such distribution licence. (3) A "Negative Rating Event" shall be deemed to have occurred if (1) a Issuer does not, either prior to or not later than 14 days after the date of the relevant Restructuring Event, seek, and thereupon use all reasonable endeavours to obtain, a rating of the Notes or any other unsecured and unsubordinated debt of that Issuer having an initial maturity of five years or more from a Rating Agency or (2) if it does so seek and use such endeavours, it is unable, as a result of such Restructuring Event, to obtain such a rating of at least investment grade (BBB-/Baa3, or their respective equivalents for the time being). (4) A "Put Event" occurs on the date of the last to occur of (1) a Restructuring Event, (2) either a Rating Downgrade or, as the case may be, a Negative Rating Event and (3) the relevant Negative Certification. (5) "Rating Agency" means S&P Global Ratings Europe Limited or any of its subsidiaries and their successors or Moody's Investors Service Limited or any of its subsidiaries and their successors or any rating agency substituted for any of them (or any permitted substitute of them) by the Issuer from time to time with the prior written approval of the Trustee.

11/81536398_4 114 (6) A "Rating Downgrade" shall be deemed to have occurred in respect of a Restructuring Event if the then current rating assigned to the Rated Securities by any Rating Agency (whether provided by a Rating Agency at the invitation of the Issuer or by its own volition) is withdrawn or reduced from an investment grade rating (BBB-/Baa3), (or their respective equivalents for the time being, or better) to a non-investment grade rating (BB+/Bal) (or their respective equivalents for the time being) or worse or, if the Rating Agency shall then have already rated the Rated Securities below investment grade (as described above), the rating is lowered one full rating category or more. (7) "Rated Securities" means the Notes, if at any time and for so long as they have a rating from a Rating Agency, and otherwise any other unsecured and unsubordinated debt of a Issuer having an initial maturity of five years or more which is rated by a Rating Agency. (8) "Restructuring Event" means the occurrence of any one or more of the following events: (a) (A) the Secretary of State for Business, Energy and Industrial Strategy (or any successor) giving the Issuer written notice of any revocation of its Distribution Licence; or (B) the Issuer agreeing in writing with the Secretary of State for Business, Energy and Industrial Strategy (or any successor) to any revocation or surrender of its Distribution Licence; or (C) any legislation (whether primary or subordinate) being enacted which terminates or revokes the Distribution Licence of the Issuer, except, in each such case, in circumstances where a licence or licences on substantially no less favourable terms is or are granted to the Issuer or a wholly-owned subsidiary of the Issuer where such subsidiary at the time of such grant either executes in favour of the Trustee an unconditional and irrevocable guarantee in respect of all Notes issued by the Issuer in such form as the Trustee may approve or becomes the primary obligor under the Notes issued by the Issuer in accordance with Condition 12.3; or (b) any modification (other than a modification which is of a formal, minor or technical nature) being made to the terms and conditions upon which an Issuer is authorised and empowered under relevant legislation to distribute electricity in the Distribution Services Area unless two directors of such Issuer have certified in good faith to the Trustee that the modified terms and conditions are not materially less favourable to the business of that Issuer; or (c) any legislation (whether primary or subordinate) is enacted which removes, qualifies or amends (other than an amendment which is of a formal, minor or technical nature) the duties of the Secretary of State for Business, Energy and Industrial Strategy (or any successor) and/or the Gas and Electricity Markets Authority (or any successor) under section 3A of the Electricity Act 1989 (as amended by the Utilities Act 2000) (as this may be amended from time to time) unless two directors of such Issuer have certified in good faith to the Trustee that such removal, qualification or amendment does not have a materially adverse effect on the financial condition of that Issuer. (9) "Restructuring Period" means: (a) if at the time a Restructuring Event occurs there are Rated Securities, the period of 90 days starting from and including the day on which that Restructuring Event occurs; or (b) if at the time a Restructuring Event occurs there are no Rated Securities, the period starting from and including the day on which that Restructuring Event occurs and ending on the day 90 days following the later of (aa) the date (if any) on which the Issuer shall seek to obtain a rating as contemplated by the definition of Negative Rating Event; (bb) the expiry of the 14 days referred to in the definition of Negative Rating Event and (cc) the date on which a 11/81536398_4 115 Negative Certification shall have been given to the Trustee in respect of that Restructuring Event. A Rating Downgrade or a Negative Rating Event or a non-investment grade rating shall be deemed not to have occurred as a result or in respect of a Restructuring Event if the Rating Agency making the relevant reduction in rating or, where applicable, refusal to assign a rating of at least investment grade as provided in this Condition 6.6, does not announce or publicly confirm or inform the Issuer in writing at its request (which it shall make as set out in the following paragraph) that the reduction or, where applicable, declining to assign a rating of at least investment grade, was the result, in whole or in part, of any event or circumstance comprised in or arising as a result of the applicable Restructuring Event. The Issuer undertakes to contact the relevant Rating Agency immediately following that reduction, or where applicable the refusal to assign a rating of at least investment grade, to confirm whether that reduction, or refusal to assign a rating of at least investment grade was the result, in whole or in part, of any event or circumstance comprised in or arising as a result of the applicable Restructuring Event. The Issuer shall notify the Trustee immediately upon receipt of any such confirmation from the relevant Rating Agency. 6.7. Redemption at the Option of Noteholders If Put Option is specified in the relevant Final Terms, the Issuer shall, at the option of any Noteholder, upon such Noteholder giving not less than 15 nor more than 30 days' notice to the Issuer (or such other notice period as may be specified in the relevant Final Terms) redeem such Note on the Optional Redemption Date(s) (as specified in the relevant Final Terms) at its Optional Redemption Amount (as specified in the relevant Final Terms) together with interest accrued to the date fixed for redemption. To exercise such option (which must be exercised on an Option Exercise Date) the holder must deposit (in the case of Bearer Notes) such Note (together with all unmatured Coupons and unexchanged Talons) with any Paying Agent or (in the case of Registered Notes) the Certificate representing such Notes with the Registrar or any Transfer Agent at its specified office, together with a duly completed option exercise notice (" Exercise Notice") in the form obtainable from any Paying Agent, the Registrar or any Transfer Agent (as applicable) within the Noteholders' Option Period (as specified in the Final Terms). No Note or Certificate so deposited and option exercised may be withdrawn (except as provided in the Agency Agreement) without the prior consent of the Issuer. 6.8. Cancellation All Notes redeemed pursuant to any of the foregoing provisions will be cancelled forthwith together with all unmatured Coupons and unexchanged Talons attached thereto. All Notes purchased by or on behalf of the Issuer or any of its Subsidiaries may, at the option of the Issuer be held by or may be surrendered together with all unmatured Coupons and all unexchanged Talons attached to them to a Paying Agent for cancellation, but may not be resold and when held by the Issuer or any of its respective Subsidiaries shall not entitle the holder to vote at any meeting of Noteholders and shall not be deemed to be outstanding for the purposes of calculating quorums at meetings of Noteholders or for the purposes of Condition 12.

11/81536398_4 116 7 Payments and Talons 7.1 Payments: Bearer Notes Payments of principal and interest in respect of Bearer Notes will, subject as mentioned below, be made against presentation and surrender of the relevant Notes (in the case of all payments of principal and, in the case of interest, as specified in Condition 7.6.4) or Coupons (in the case of interest, save as specified in Condition 7.6.4), as the case may be, at the specified office of any Paying Agent outside the United States by a cheque payable in the currency in which such payment is due drawn on, or, at the option of the holder, by transfer to an account denominated in that currency with, a bank in the principal financial centre for that currency; provided that in the case of Euro, the transfer shall be in a city in which banks have access to T2. 7.2 Registered Notes: (a) Payments of principal in respect of Registered Notes shall be made against presentation and surrender of the relevant Certificates at the specified office of any of the Transfer Agents or of the Registrar and in the manner provided in paragraph (b) below. (b) Interest on Registered Notes shall be paid to the person shown on the Register at the close of business on the day before the due date for payment thereof (the Record Date). Payments of interest on each Registered Note shall be made in the relevant currency by cheque drawn on a Bank and mailed to the holder (or to the first named of joint holders) of such Note at its address appearing in the Register. Upon application by the holder to the specified office of the Registrar or any Transfer Agent before the Record Date, such payment of interest may be made by transfer to an account in the relevant currency maintained by the payee with a Bank. 7.3 Payments in the United States Notwithstanding the above, if any Notes are denominated in U.S. dollars, payments in respect of them may be made at the specified office of any Paying Agent in New York City in the same manner as specified above if (a) the Issuer shall have appointed Paying Agents with specified offices outside the United States with the reasonable expectation that such Paying Agents would be able to make payment of the amounts on the Notes in the manner provided above when due, (b) payment in full of such amounts at all such offices is illegal or effectively precluded by exchange controls or other similar restrictions on payment or receipt of such amounts and (c) such payment is then permitted by United States law, without involving, in the opinion of the Issuer, any adverse tax consequence to the Issuer. 7.4 Payments subject to Fiscal Laws etc. Save as provided in Condition 8, payments will be subject in all cases to any applicable fiscal or other laws, regulations and directives in the place of payment and the Issuer will not be liable for any taxes or duties of whatever nature imposed or levied by such laws, regulations, directives or agreements. No commission or expenses shall be charged to the Noteholders or Couponholders in respect of such payments. 7.5 Appointment of Agents The Issuing and Paying Agent, the Paying Agents and the Calculation Agent initially appointed by the Issuer and their respective specified offices are listed below. The Issuing and Paying Agent, the Paying Agents, the Registrar, the Transfer Agents and the Calculation Agent act solely as agents of the Issuer and do not assume any obligation or relationship of 11/81536398_4 117 agency or trust for or with any holder. The Issuer reserves the right at any time with the approval of the Trustee to vary or terminate the appointment of the Issuing and Paying Agent, any other Paying Agent, the Registrar, any Transfer Agent, or the Calculation Agent and to appoint additional or other Paying Agents or Transfer Agents, provided that the Issuer shall at all times maintain (a) an Issuing and Paying Agent, (b) a Registrar in relation to Registered Notes. (c) a Transfer Agent in relation to Registered Notes, (d) a Paying Agent (which may be the Issuing and Paying Agent) having its specified office in a major European city, (e) a Calculation Agent where the Conditions so require one, (f) so long as the Notes are listed on any stock exchange or admitted to listing by any other relevant authority, a Paying Agent having a specified office in such place as may be required by the rules and regulations of any other relevant stock exchange, listing authority or other relevant authority, and (g) so long as the Notes clear in a clearing system other than or in addition to Euroclear and Clearstream, Luxembourg, a Paying Agent that is able to make payments to such clearing system in accordance with the rules and procedure of such clearing system. As used in these Conditions, the terms "Issuing and Paying Agent", "Registrar", "Transfer Agent", "Calculation Agent", and "Paying Agent" include any additional or replacement Issuing and Paying Agent, Registrar, Transfer Agent, Calculation Agent or Paying Agent appointed under this Condition. In addition, the Issuer shall forthwith appoint a Paying Agent in New York City in respect of any Notes denominated in U.S. dollars in the circumstances described in Condition 7.3. Notice of any such change or any change of any specified office shall promptly be given to the Noteholders in accordance with Condition 15. 7.6 Unmatured Coupons and unexchanged Talons 7.6.1 Upon the due date for redemption of any Note, unmatured Coupons relating to such Note (whether or not attached) shall become void and no payment shall be made in respect of them. 7.6.2 Upon the due date for redemption of any Note, any unexchanged Talon relating to such Note (whether or not attached) shall become void and no Coupon shall be delivered in respect of such Talon. 7.6.3 Where any Note which provides that the relevant Coupons are to become void upon the due date for redemption of those Notes is presented for redemption without all unmatured Coupons, and where any Note is presented for redemption without any unexchanged Talon relating to it, redemption shall be made only against the provision of such indemnity as the Issuer may require. 7.6.4 If the due date for redemption of any Note is not a due date for payment of interest, interest accrued from the preceding due date for payment of interest or the Interest Commencement Date, as the case may be, shall only be payable against presentation (and surrender if appropriate) of the relevant Note or Certificate representing it. Interest accrued on a Note that only bears interest after its Maturity Date shall be payable on redemption of that Note against presentation of that Note as the case may be. 7.7 Non-Business Days If any date for payment in respect of any Note or Coupon is not a business day, the holder shall not be entitled to payment until the next following business day nor to any interest or other sum in respect of such postponed payment. In this paragraph, "business day" means a day (other than a Saturday or a Sunday) on which banks and foreign exchange markets are

11/81536398_4 118 open for business in the relevant place of presentation, in such jurisdictions as shall be specified as "Financial Centres" in the relevant Final Terms and: 7.7.1 (in the case of a payment in a currency other than Euro) where payment is to be made by transfer to an account maintained with a bank in the relevant currency, on which foreign exchange transactions may be carried on in the relevant currency in the principal financial centre of the country of such currency (which in the case of Australian dollars is Sydney); or 7.7.2 (in the case of a payment in Euro) which is a T2 Business Day. 7.8 Talons On or after the Interest Payment Date for the final Coupon forming part of a Coupon sheet issued in respect of any Note, the Talon forming part of such Coupon sheet may be surrendered at the specified office of the Issuing and Paying Agent in exchange for a further Coupon sheet (but excluding any Coupons which may have become void pursuant to Condition 9). 8 Taxation All payments of principal and interest by or on behalf of the Issuer in respect of the Notes and the Coupons will be made without withholding or deduction for or on account of, any present or future taxes or duties of whatever nature imposed or levied by or on behalf of the United Kingdom or any political sub-division of the United Kingdom or any authority in or of the United Kingdom having power to tax, unless such withholding or deduction is compelled by law. In that event, the Issuer will pay such additional amounts of principal and interest as will result in the receipt by the Noteholders or, as the case may be, the Couponholders of the amounts which would otherwise have been received by them in respect of the Notes or Coupons had no withholding or deduction been made, except that no such additional amounts shall be payable in respect of any Note or Coupon presented for payment: (a) by or on behalf of, a person who is liable to such taxes or duties in respect of such Note or Coupon by reason of his having some connection with the United Kingdom other than the mere holding of such Note or Coupon; or (b) by or on behalf of a person who would not be liable or subject to such deduction or withholding by making a declaration of non-residence or other claim for exemption to a tax authority; or (c) more than 30 days after the Relevant Date except to the extent that the holder would have been entitled to such additional amounts on presenting the same for payment on such 30th day. Notwithstanding any other provision of the Terms and Conditions or the Trust Deed, any amounts to be paid on the Notes by or on behalf of the Issuer, will be paid net of any deduction or withholding imposed or required pursuant to an agreement described in Section 1471(b) of the US Internal Revenue Code of 1986, as amended (the "Code"), or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (or any regulations thereunder or official interpretations thereof) or an intergovernmental agreement between the United States and another jurisdiction facilitating the implementation thereof (or any fiscal or regulatory legislation, rules or practices implementing such an intergovernmental agreement) (any such withholding or deduction, a "FATCA Withholding"). Neither the Issuer nor any other person will be required to pay any additional amounts in respect of FATCA Withholding. 11/81536398_4 119 As used in these Conditions, "Relevant Date" in respect of any Note or Coupon means the date on which payment in respect of it first becomes due or (if any amount of the money payable is improperly withheld or refused) the date on which payment in full of the amount outstanding is made or (if earlier) the date on which notice is duly given to the Noteholders in accordance with Condition 15 that, upon further presentation of the Note (or relative Certificate) or Coupon being made in accordance with the Conditions, such payment will be made, provided that payment is in fact made upon such presentation. References in these Conditions to (a) "principal" shall be deemed to include any premium payable in respect of the Notes, Final Redemption Amounts, Early Redemption Amounts, Optional Redemption Amounts, Amortised Face Amounts and all other amounts in the nature of principal payable pursuant to Condition 6 or any amendment or supplement to it, (b) "interest" shall be deemed to include all Interest Amounts and all other amounts payable pursuant to Condition 4 or any amendment or supplement to it and (c) "principal" and/or "interest" shall be deemed to include any additional amounts which may be payable under this Condition or any undertaking given in addition to or in substitution for it under the Trust Deed. 9 Prescription Claims against the Issuer for payment in respect of the Notes and Coupons (which, for this purpose, shall not include Talons) shall be prescribed and become void unless presented for payment within 10 years (in the case of principal) or five years (in the case of interest) from the appropriate Relevant Date in respect of them. 10 Events of Default If any of the following events (each an "Event of Default") occurs and is continuing, the Trustee at its discretion may, and if so requested by the holders of at least one-quarter in nominal amount of the Notes then outstanding or if so directed by an Extraordinary Resolution shall (subject in each case to being indemnified and/or secured and/or prefunded to its satisfaction), give notice to the Issuer at its registered office that the Notes are, and they shall accordingly immediately become due and repayable at their Redemption Amount together with accrued interest (if any) to the date of payment: (a) Non-Payment: there is default for more than 30 days in the payment of any principal or interest due in respect of the Notes; or (b) Breach of Other Obligations: there is default in the performance or observance by the Issuer of any other obligation or provision under the Trust Deed or the Notes (other than any obligation for the payment of any principal or interest in respect of the Notes) which default is incapable of remedy or, if in the opinion of the Trustee capable of remedy, is not remedied within 90 days after notice of such default shall have been given to the Issuer by the Trustee; or (c) Cross-Acceleration: if (i) any other present or future Relevant Indebtedness of the Issuer becomes due and payable prior to its stated maturity by reason of any actual event of default or (ii) any amount in respect of such Relevant Indebtedness is not paid when due or, as the case may be, within any applicable grace period, provided that the aggregate amount of the Relevant Indebtedness in respect of which one or more of the events mentioned above in this paragraph (c) have occurred equals or exceeds £100,000,000. (d) Winding-up: a resolution is passed, or a final order of a court in the United Kingdom is made and, where possible, not discharged or stayed within a period of 90 days, that the Issuer be wound up or dissolved; or (e) Enforcement Proceedings: attachment is made of the whole or substantially the whole of the assets or undertakings of the Issuer and such attachment is not released or cancelled within 90 days or an encumbrancer takes possession or an administrative or other receiver or similar

11/81536398_4 120 officer is appointed of the whole or substantially the whole of the assets or undertaking of the Issuer or an administration or similar order is made in relation to the Issuer and such taking of possession, appointment or order is not released, discharged or cancelled within 90 days; or (f) Insolvency: the Issuer ceases to carry on all or substantially all of its business or is unable to pay its debts within the meaning of Section 123(1)(e) or Section 123(2) of the Insolvency Act 1986; or (g) Bankruptcy: the Issuer is adjudged bankrupt or insolvent by a court of competent jurisdiction in its country of incorporation, provided that in the case of paragraph (b) the Trustee shall have certified that in its opinion such event is materially prejudicial to the interests of the Noteholders. 11 Enforcement The Trustee may, at its discretion and without further notice, institute such actions, steps or proceedings against the Issuer as it may think fit to enforce any obligation, condition or provision binding on the Issuer under the Notes or under the Trust Deed, but shall not be bound to do so unless: (a) it has been so directed by an Extraordinary Resolution or in writing by the holders of at least one-quarter of the principal amount of the Notes outstanding; and (b) it has been indemnified and/or secured and/or prefunded to its satisfaction. No Noteholder or Couponholder shall be entitled to institute such actions, steps or proceedings directly against the Issuer unless the Trustee, having become bound to proceed as specified above, fails or is unable to do so within 60 days and such failure or inability is continuing. 12 Meetings of Noteholders, Modifications and Substitution 12.1 Meetings of Noteholders The Trust Deed contains provisions for convening meetings of Noteholders (including, in respect of the Trust Deed, meetings held by way of audio or video conference) to consider any matter affecting their interests, including the sanctioning by Extraordinary Resolution (as defined in the Trust Deed) of a modification of any of these Conditions or any provisions of the Trust Deed. An Extraordinary Resolution duly passed at any such meeting shall be binding on all Noteholders (whether or not they were present at the meeting at which such resolution was passed) and Couponholders, except that any Extraordinary Resolution proposed, inter alia, (a) to amend the dates of maturity or redemption of the Notes or any date for payment of interest on the Notes, (b) to reduce or cancel the nominal amount of, or any premium payable on redemption of, the Notes, (c) to reduce the rate or rates of interest in respect of the Notes or to vary the method or basis of calculating the rate or rates or amount of interest or the basis for calculating any Interest Amount in respect of the Notes, (d) if a Minimum and/or a Maximum Rate of Interest is shown on the face of the Note, to reduce any such Minimum and/or Maximum Rate of Interest, (e) to vary any method of calculating the Final Redemption Amount, the Early Redemption Amount or the Optional Redemption Amount, (f) to take any steps that as specified in this Note may only be taken following approval by an Extraordinary Resolution to which the special quorum provisions apply, and (g) to modify the provisions concerning the quorum required at any meeting of Noteholders or the majority required to pass the Extraordinary Resolution will only be binding if passed at a meeting of the Noteholders (or at any adjournment of that meeting) at which a special quorum (as defined in the Trust Deed) is present. A resolution in writing signed by the holders of not less than 95 per cent. in nominal amount of the Notes will be 11/81536398_4 121 binding on all Noteholders and Couponholders. The Issuer may convene a meeting of Noteholders jointly with the holders of all other Notes issued pursuant to the Agency Agreement and not forming a single series with the Notes to which meeting the provisions referred to above apply as if all such Notes formed part of the same series, provided that the proposals to be considered at such meeting affect the rights of the holders of the Notes of each series attending the meeting in identical respects (save insofar as the Conditions applicable to each such series are not identical). 12.2 Modification of the Trust Deed The Trustee may agree, without the consent of the Noteholders or Couponholders, to (a) any modification of any of the provisions of the Trust Deed, the Notes, the Coupons or these Conditions that is of a formal, minor or technical nature or is made to correct a manifest error, and (b) any other modification (except as mentioned in the Trust Deed), and any waiver or authorisation of any breach or proposed breach, of any of the provisions of the Trust Deed, the Notes, the Coupons or these Conditions that is in the opinion of the Trustee not materially prejudicial to the interests of the Noteholders. In addition, the Trustee shall be obliged to concur with the Issuers in using its reasonable endeavours to effect any Benchmark Amendments in the circumstances and as otherwise set out in Condition 4.10 without the consent or approval of the Noteholders and Couponholders. Any such modification, authorisation or waiver shall be binding on all Noteholders and Couponholders and, if the Trustee so requires, such modification shall be notified to the Noteholders as soon as practicable. 12.3 Substitution The Trust Deed contains provisions permitting the Trustee to agree, subject to such amendment of the Trust Deed and such other conditions as the Trustee may require, but without the consent of the Noteholders or the Couponholders, to the substitution of any other company in place of the Issuer or of any previous substituted company, as principal debtor under the Trust Deed and the Notes. In the case of such a substitution the Trustee may agree, without the consent of the Noteholders or the Couponholders, to a change of the law governing the Notes, the Coupons, the Talons and/or the Trust Deed provided that such change would not in the opinion of the Trustee be materially prejudicial to the interests of the Noteholders. 12.4 Entitlement of the Trustee In connection with the exercise of its functions (including but not limited to those referred to in this Condition) the Trustee shall have regard to the interests of the Noteholders as a class and shall not have regard to the consequences of such exercise for individual Noteholders or Couponholders and the Trustee shall not be entitled to require, nor shall any Noteholder or Couponholder be entitled to claim, from the Issuer any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders or Couponholders. 13 Replacement of Notes, Certificates, Coupons and Talons If a Note, Certificate, Coupon or Talon is lost, stolen, mutilated, defaced or destroyed, it may be replaced, subject to applicable laws, listing authority and stock exchange regulations, at the specified office of such other Paying Agent (in the case of Bearer Notes, Coupons or Talons) and of the Registrar or Transfer Agent (in the case of Certificates) as may from time to time be designated by the Issuer for the purpose and notice of whose designation is given to Noteholders in accordance with Condition 15 on payment by the claimant of the fees and costs incurred in connection with that replacement and on such terms as to evidence, security and indemnity (which

11/81536398_4 122 may provide, inter alia, that if the allegedly lost, stolen or destroyed Note, Certificates, Coupon or Talon is subsequently presented for payment or, as the case may be, for exchange for further Certificates, Coupons, there shall be paid to the Issuer on demand the amount payable by the Issuer in respect of such Notes, Coupons or further Coupons) and otherwise as the Issuer may require. Mutilated or defaced Notes, Coupons or Talons must be surrendered before replacements will be issued. 14 Further Issues The Issuer may from time to time without the consent of the Noteholders or Couponholders create and issue further Notes having the same terms and conditions as the Notes and so that such further issue shall be consolidated and form a single series with such Notes. References in these Conditions to the Notes include (unless the context requires otherwise) any other Notes issued pursuant to this Condition and forming a single series with the Notes. Any such further Notes forming a single series with Notes constituted by the Trust Deed or any deed supplemental to it shall, and any other Notes may (with the consent of the Trustee), be constituted by the Trust Deed. The Trust Deed contains provisions for convening a single meeting of the Noteholders and the holders of Notes of other series if the Trustee so decides. 15 Notices Notices to the holders of Registered Notes shall be mailed to them at their respective address in the Register and deemed to have been given on the fourth weekday (being a day other than a Saturday or a Sunday) after the date of mailing. Notices to the holders of Bearer Notes shall be valid if published in a daily English language newspaper of general circulation in the United Kingdom (which is expected to be the Financial Times). If in the opinion of the Trustee any such publication is not practicable, notice shall be validly given if published in another leading daily English language newspaper with general circulation in Europe. Any such notice shall be deemed to have been given on the date of such publication or, if published more than once or on different dates, on the first date on which publication is made, as provided above. Couponholders shall be deemed for all purposes to have notice of the contents of any notice given to the holders of Notes in accordance with this Condition. 16 Indemnification of Trustee The Trust Deed contains provisions for the indemnification of the Trustee and for its relief from responsibility, including but not limited to provisions relieving it from any obligation to (a) appoint an independent financial adviser and (b) take proceedings to enforce repayment unless indemnified to its satisfaction. The Trustee is entitled to enter into business transactions with the Issuer or any of its subsidiary undertakings, parent undertakings, joint ventures or associated undertakings without accounting for any profit resulting from these transactions and to act as trustee for the holders of any other securities issued by the Issuer or any of its subsidiary undertakings, parent undertakings, joint ventures or associated undertakings. 17 Contracts (Rights of Third Parties) Act 1999 No person shall have any right to enforce any term or condition of the Notes under the Contracts (Rights of Third Parties) Act 1999. 11/81536398_4 123 18 Governing Law and Jurisdiction 18.1 The Notes, the Coupons and any non-contractual obligations arising out of or connected with them are governed by, and shall be construed in accordance with, English law. 18.2 The courts of England have exclusive jurisdiction to settle any dispute (a "Dispute"), arising from or connected with the Notes. 18.3 The Issuer agrees that the courts of England are the most appropriate and convenient courts to settle any Dispute and, accordingly, that it will not argue to the contrary. 18.4 Nothing in this Condition 18 prevents the Trustee or any Noteholder from taking proceedings relating to a Dispute ("Proceedings") in any other courts with jurisdiction. To the extent allowed by law, the Trustee or Noteholders may take concurrent Proceedings in any number of jurisdictions.

11/81536398_4 124 SCHEDULE 5 FORM OF COUPON On the front: [ISSUER] EURO MEDIUM TERM NOTE PROGRAMME Series No. [•][Title of issue] Coupon for [[set out amount due, if known]/the amount] due on [the Interest Payment Date falling in]*[•],[•]. [Coupon relating to Note in the nominal amount of [•]]** This Coupon is payable to bearer (subject to the Conditions endorsed on the Note to which this Coupon relates, which shall be binding upon the holder of this Coupon whether or not it is for the time being attached to such Note) at the specified offices of the Issuing and Paying Agent and the Paying Agents set out on the reverse hereof (or any other Issuing and Paying Agent or further or other Paying Agents or specified offices duly appointed or nominated and notified to the Noteholders). [If the Note to which this Coupon relates shall have become due and payable before the maturity date of this Coupon, this Coupon shall become void and no payment shall be made in respect of it.]*** ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE. [ISSUER] By: [Cp. No.][Denomination][ISIN][Series][Certif. No.] 11/81536398_4 125 On the back: ISSUING AND PAYING AGENT [•] PAYING AGENT[S][•][•][*Only necessary where Interest Payment Dates are subject to adjustment in accordance with a Business Day Convention otherwise the particular interest Payment Date should be specified.][**Only required for Coupons relating to Floating Rate or Index Linked Interest Notes that are issued in more than one denomination.][***Delete if Coupons are not to become void upon early redemption of Note.]

11/81536398_4 126 SCHEDULE 6 FORM OF TALON On the front: [ISSUER] EURO MEDIUM TERM NOTE PROGRAMME Series No. [•][Title of issue] Talon for further Coupons falling due on [the Interest Payment Dates falling in]*[][]. [Talon relating to Note in the nominal amount of [•]]** After all the Coupons relating to the Note to which this Talon relates have matured, further Coupons (including if appropriate a Talon for further Coupons) shall be issued at the specified office of the Issuing and Paying Agent set out on the reverse hereof (or any other Issuing and Paying Agent or specified office duly appointed or nominated and notified to the Noteholders) upon production and surrender of this Talon. If the Note to which this Talon relates shall have become due and payable before the original due date for exchange of this Talon, this Talon shall become void and no exchange shall be made in respect of it. ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE. [ISSUER] By: [Talon No.][ISIN][Series][Certif. No.] 11/81536398_4 127 On the back: ISSUING AND PAYING AGENT [•][* The maturity dates of the relevant Coupons should be set out if known, otherwise reference should be made to the months and years in which the Interest Payment Dates fall due.][** Only required where the Series comprises Notes of more than one denomination.]

11/81536398_4 128 SCHEDULE 7 PROVISIONS FOR MEETINGS OF NOTEHOLDERS Interpretation 1. In this Schedule: (a) references to a meeting are to a meeting of Noteholders of one or more Series of Notes issued by the relevant Issuer and include, unless the context otherwise requires, any adjournment; (b) references to "Notes" and "Noteholders" are only to the Notes of the one or more Series in respect of which a meeting has been, or is to be, called, and to the holders of these Notes, respectively; (c) "agent" means a holder of a voting certificate or a proxy for, or representative of, a Noteholder; (d) "block voting instruction" means an instruction issued in accordance with paragraphs 8 to 14; (e) "electronic platform" means any form of telephony or electronic platform and includes, without limitation, telephone and video conference call and application technology systems; (f) "Extraordinary Resolution" means a resolution passed at a meeting duly convened and held in accordance with this Trust Deed by a majority of at least 75 per cent. of the votes cast; (g) "hybrid meeting" means a combined physical meeting and virtual meeting convened pursuant to this Schedule by the relevant Issuer or the Trustee at which persons may attend either at the physical location specified in the notice of such meeting or via an electronic platform; (h) "meeting" means a meeting convened pursuant to this Schedule by the relevant Issuer or the Trustee and whether held as a physical meeting or as a virtual meeting or as a hybrid meeting; (i) "proxy" has the meaning given to it in paragraph 9(f) below; (j) "required proportion" means the proportion of the Notes shown by the table in paragraph 19 below; (k) "virtual meeting" means any meeting held via an electronic platform; (l) "voting certificate" means a certificate issued in accordance with paragraphs 5, 6, 7 and 14; and (m) references to persons representing a proportion of the Notes are to Noteholders or agents holding or representing in the aggregate at least that proportion in nominal amount of the Notes for the time being outstanding. Powers of meetings 2. A meeting shall, subject to the Conditions and without prejudice to any powers conferred on other persons by this Trust Deed, have power by Extraordinary Resolution: 11/81536398_4 129 (a) to approve proposals relating to reserved matters listed in Condition 12 (Meetings of Noteholders, Modifications and Substitution); (b) to sanction any proposal by the relevant Issuer or the Trustee for any modification, abrogation, variation or compromise of, or arrangement in respect of, the rights of the Noteholders and/or the Couponholders against the relevant Issuer, whether or not those rights arise under this Trust Deed; (c) to assent to any modification of this Trust Deed, the Notes, the Talons or the Coupons proposed by the relevant Issuer or the Trustee; (d) to authorise anyone (including the Trustee) to concur in and do anything necessary to carry out and give effect to an Extraordinary Resolution; (e) to give any authority, direction or sanction required to be given by Extraordinary Resolution; (f) to appoint any persons (whether Noteholders or not) as a committee or committees to represent the Noteholders' interests and to confer on them any powers or discretions which the Noteholders could themselves exercise by Extraordinary Resolution; (g) to approve a proposed new Trustee and to remove a Trustee; (h) (other than as permitted under Clause 15.2 of this Trust Deed) to approve the substitution of any entity for the relevant Issuer (or any previous substitute) as principal debtor under this Trust Deed; and (i) to discharge or exonerate the Trustee from any liability in respect of any act or omission for which it may become responsible under this Trust Deed, the Notes, the Talons or the Coupons, provided that the special quorum provisions in paragraph 19 shall apply to any Extraordinary Resolution (a "special quorum resolution") for the purpose of sub-paragraph 2(b) or 2(h), any of the proposals listed in Condition 12.1 (Meetings of Noteholders) or any amendment to this proviso. Convening a meeting 3. The relevant Issuer or the Trustee may at any time convene a meeting. If it receives a written request by Noteholders holding at least 10 per cent. in nominal amount of the Notes of any Series for the time being outstanding and is indemnified and/or secured and/or pre-funded to its satisfaction against all costs and expenses, the Trustee shall convene a meeting of the Noteholders of that Series. Every meeting shall be held on a date and at a time and place approved by the Trustee. 4. At least 21 days' notice (exclusive of the day on which the notice is given and of the day of the meeting) shall be given to the Noteholders and the Paying Agents in relation to the Bearer Notes and the Registrar in relation to the Registered Notes (with a copy to the relevant Issuer). A copy of the notice shall be given by the party convening the meeting to the other parties. The notice shall specify the day, time and the place of meeting and, unless the Trustee otherwise agrees, the nature of the resolutions to be proposed and shall explain how Noteholders may appoint proxies or representatives, obtain voting certificates and use block voting instructions and the details of the time limits applicable. Arrangements for voting

11/81536398_4 130 5. If a holder of a Bearer Note wishes to obtain a voting certificate in respect of it for a meeting, he must deposit it for that purpose at least 48 hours before the time fixed for the meeting with a Paying Agent or to the order of a Paying Agent with a bank or other depositary nominated by the Paying Agent for the purpose. The Paying Agent shall then issue a voting certificate in respect of it. 6. A voting certificate shall: (a) be a document in the English language; (b) be dated; (c) specify the meeting concerned and the serial numbers of the Notes deposited; and (d) entitle, and state that it entitles, its bearer to attend and vote at that meeting in respect of those Notes. 7. Once a Paying Agent has issued a voting certificate for a meeting in respect of a Note, it shall not release the Note until either: (a) the meeting has been concluded; or (b) the voting certificate has been surrendered to the Paying Agent. 8. If a holder of a Bearer Note wishes the votes attributable to it to be included in a block voting instruction for a meeting, then, at least 48 hours before the time fixed for the meeting, (i) he must deposit the Note for that purpose with a Paying Agent or to the order of a Paying Agent with a bank or other depositary nominated by the Paying Agent for the purpose and (ii) he or a duly authorised person on his behalf must direct the Paying Agent how those votes are to be cast. The Paying Agent shall issue a block voting instruction in respect of the votes attributable to all Notes so deposited. 9. A block voting instruction shall: (a) be a document in the English language; (b) be dated; (c) specify the meeting concerned; (d) list the total number and serial numbers of the Notes deposited, distinguishing with regard to each resolution between those voting for and those voting against it; (e) certify that such list is in accordance with Notes deposited and directions received as provided in paragraphs 8, 11 and 14; and (f) appoint a named person (a "proxy") to vote at that meeting in respect of those Notes and in accordance with that list. A proxy need not be a Noteholder. 10. Once a Paying Agent has issued a block voting instruction for a meeting in respect of the votes attributable to any Notes: (a) it shall not release the Notes, except as provided in paragraph 11, until the meeting has been concluded; and 11/81536398_4 131 (b) the directions to which it gives effect may not be revoked or altered during the 48 hours before the time fixed for the meeting. 11. If the receipt for a Note deposited with a Paying Agent in accordance with paragraph 8 is surrendered to the Paying Agent at least 48 hours before the time fixed for the meeting, the Paying Agent shall release the Note and exclude the votes attributable to it from the block voting instruction. 12. Each block voting instruction shall be deposited at least 24 hours before the time fixed for the meeting at such place as the Trustee shall designate or approve, and in default it shall not be valid unless the chairman of the meeting decides otherwise before the meeting proceeds to business. If the Trustee requires, a notarially certified copy of each block voting instruction shall be produced by the proxy at the meeting but the Trustee need not investigate or be concerned with the validity of the proxy's appointment. 13. A vote cast in accordance with a block voting instruction shall be valid even if it or any of the Noteholders' instructions pursuant to which it was executed has previously been revoked or amended, unless written intimation of such revocation or amendment is received from the relevant Paying Agent by the relevant Issuer or the Trustee at its registered office or by the chairman of the meeting in each case at least 24 hours before the time fixed for the meeting. 14. No Note may be deposited with or to the order of a Paying Agent at the same time for the purposes of both paragraph 5 and paragraph 8 for the same meeting. 15. (a) A holder of a Registered Note may, by an instrument in writing in the form available from the specified office of a Transfer Agent in the English language executed by or on behalf of the holder and delivered to the Transfer Agent at least 48 hours before the time fixed for a meeting, appoint any person (a proxy) to act on his behalf in connection with that meeting. A proxy need not be a Noteholder. (b) A corporation which holds a Registered Note may by delivering to a Transfer Agent at least 24 hours before the time fixed for a meeting a certified copy of a resolution of its directors or other governing body (with, if it is not in English, a certified translation into English) authorise any person to act as its representative (a "representative") in connection with that meeting. Chairman 16. The chairman of a meeting shall be such person as the Trustee may nominate in writing, but if no such nomination is made or if the person nominated is not present within 15 minutes after the time fixed for the meeting the Noteholders or agents present shall choose one of their number to be chairman, failing which the relevant Issuer may appoint a chairman. The chairman need not be a Noteholder or agent. The chairman of an adjourned meeting need not be the same person as the chairman of the original meeting. Attendance 17. The following may attend and speak at a meeting: (a) Noteholders and agents; (b) the chairman;

11/81536398_4 132 (c) the relevant Issuer and the Trustee (through their respective representatives) and their respective financial and legal advisers; (d) the Dealers and their advisers; (e) any other person approved by the meeting or the Trustee; and (f) in relation to Registered Notes, the Registrar, or in relation to Bearer Notes, the Issuing and Paying Agent. No-one else may attend or speak. Quorum and Adjournment 18. No business (except choosing a chairman) shall be transacted at a meeting unless a quorum is present at the commencement of business. If a quorum is not present within 15 minutes from the time initially fixed for the meeting, it shall, if convened on the requisition of Noteholders or if the relevant Issuer and the Trustee agree, be dissolved. In any other case it shall be adjourned until such date, not less than 14 nor more than 42 days later, and time and place as the chairman may decide. If a quorum is not present within 15 minutes from the time fixed for a meeting so adjourned, the meeting shall be dissolved. 19. Two (or in the case of an adjourned meeting one) or more Noteholders or agents present in person shall be a quorum provided, however, that, so long as at least the required proportion of the aggregate principal amount of the outstanding Notes is represented by, in the case of Bearer Notes, the Global Notes or, in the case of Registered Notes, the Global Certificates or a single Certificate, in the context of Registered Notes, an agent appointed in relation thereto or a Noteholder of the Notes represented thereby shall be deemed to be two voters (or in the case of an adjourned meeting, one voter) for the purpose of forming a quorum: (a) in the cases marked "No minimum proportion" in the table below, whatever the proportion of the Notes which they represent; and (b) in any other case, only if they represent, in nominal amount of the affected Series of Notes for the time being outstanding, the proportion of the Notes shown by the table below. COLUMN 1 COLUMN 2 COLUMN 3 Purpose of meeting Any meeting except one referred to in column 3 Required proportion Meeting previously adjourned through want of a quorum Required proportion To pass a special quorum resolution Two thirds One third To pass any other Extraordinary Resolution One more than 50 per cent. No minimum proportion Any other purpose 10 per cent. No minimum proportion 20. The chairman may with the consent of (and shall if directed by) a meeting adjourn the meeting from time to time and from place to place. Only business which could have been transacted at 11/81536398_4 133 the original meeting may be transacted at a meeting adjourned in accordance with this paragraph or paragraph 18. 21. At least ten days' notice of a meeting adjourned through want of a quorum shall be given in the same manner as for an original meeting and that notice shall state the quorum required at the adjourned meeting. No notice need, however, otherwise be given of an adjourned meeting. Voting 22. Each question submitted to a meeting shall be decided by a show of hands unless a poll is (before, or on the declaration of the result of, the show of hands) demanded by the chairman, the relevant Issuer, the Trustee or one or more persons holding one or more Notes or voting certificates representing 2 per cent. of the Notes. 23. Unless a poll is demanded a declaration by the chairman that a resolution has or has not been passed shall be conclusive evidence of the fact without proof of the number or proportion of the votes cast in favour of or against it. 24. If a poll is demanded, it shall be taken in such manner and (subject as provided below) either at once or after such adjournment as the chairman directs. The result of the poll shall be deemed to be the resolution of the meeting at which it was demanded as at the date it was taken. A demand for a poll shall not prevent the meeting continuing for the transaction of business other than the question on which it has been demanded. 25. A poll demanded on the election of a chairman or on a question of adjournment shall be taken at once. 26. On a show of hands every person who is present in person and who produces a Bearer Note, a Certificate of which he is the registered holder or a voting certificate or is a proxy or representative has one vote. On a poll every such person has one vote in respect of each integral currency unit of the Specified Currency of such Series of Notes so produced or represented by the voting certificate so produced or for which he is a proxy or representative. Without prejudice to the obligations of proxies, a person entitled to more than one vote need not use them all or cast them all in the same way. 27. In case of equality of votes the chairman shall both on a show of hands and on a poll have a casting vote in addition to any other votes which he may have. Effect and Publication of an Extraordinary Resolution 28. An Extraordinary Resolution shall be binding on all the Noteholders, whether or not present at the meeting, and on all the Couponholders and each of them shall be bound to give effect to it accordingly. The passing of such a resolution shall be conclusive evidence that the circumstances justify its being passed. The relevant Issuer shall give notice of the passing of an Extraordinary Resolution to Noteholders and, in relation to Bearer Notes, to the Paying Agents, and in relation to Registered Notes, to the Registrar within 14 days but failure to do so shall not invalidate the resolution. Minutes 29. Minutes shall be made of all resolutions and proceedings at every meeting and, if purporting to be signed by the chairman of that meeting or of the next succeeding meeting, shall be conclusive evidence of the matters in them. Unless and until the contrary is proved, every meeting for which minutes have been so made and signed shall be deemed to have been duly convened and held and all resolutions passed or proceedings transacted at it to have been duly passed and transacted.

11/81536398_4 134 Written Resolutions 30. A written resolution signed by the holders of not less than 95 per cent., in nominal amount of the Notes outstanding shall take effect as if it were an Extraordinary Resolution. Such a resolution in writing may be contained in one document or several documents in the same form, each signed by or on behalf of one or more Noteholders. Trustee's Power to Prescribe Regulations 31. Subject to all other provisions in this Trust Deed the Trustee may without the consent of the Noteholders prescribe such further regulations regarding the holding of meetings and attendance and voting at them as it in its sole discretion determines including (without limitation) such requirements as the Trustee thinks reasonable to satisfy itself that the persons who purport to make any requisition in accordance with this Trust Deed are entitled to do so and as to the form of voting certificates or block voting instructions so as to satisfy itself that persons who purport to attend or vote at a meeting are entitled to do so. 32. The foregoing provisions of this Schedule shall have effect subject to the following provisions: (a) Meetings of Noteholders of separate Series will normally be held separately. However, the Trustee may from time to time determine that meetings of Noteholders of separate Series shall be held together. (b) A resolution that in the opinion of the Trustee affects one Series alone shall be deemed to have been duly passed if passed at a separate meeting of the Noteholders of the Series concerned. (c) A resolution that in the opinion of the Trustee affects the Noteholders of more than one Series but does not give rise to a conflict of interest between the Noteholders of the different Series concerned shall be deemed to have been duly passed if passed at a single meeting of the Noteholders of the relevant Series provided that for the purposes of determining the votes a Noteholder is entitled to cast pursuant to paragraph 26, each Noteholder shall have one vote in respect of each £1,000 nominal amount of Notes held, converted, if such Notes are not denominated in sterling, in accordance with Subclause 11.16 (Currency Conversion). (d) A resolution that in the opinion of the Trustee affects the Noteholders of more than one Series and gives or may give rise to a conflict of interest between the Noteholders of the different Series concerned shall be deemed to have been duly passed only if it shall be duly passed at separate meetings of the Noteholders of the relevant Series. (e) To all such meetings as aforesaid all the preceding provisions of this Schedule shall mutatis mutandis apply as though references therein to Notes and to Noteholders were references to the Notes and Noteholders of the Series concerned. Additional provisions applicable to Virtual and/or Hybrid meetings 33. The relevant Issuer (with the Trustee's prior approval) or the Trustee in its sole discretion may decide to hold a virtual meeting or a hybrid meeting and, in such case, shall provide details of the means for Noteholders or their proxies or representatives to attend, participate in and/or speak at the meeting, including the electronic platform to be used. 34. The relevant Issuer or the chair (in each case, with the Trustee's prior approval) or the Trustee in its sole discretion may make any arrangement and impose any requirement or restriction as is necessary to ensure the identification of those entitled to take part in the virtual meeting or 11/81536398_4 135 hybrid meeting and the suitability of the electronic platform. All documentation that is required to be passed between persons at or for the purposes of the virtual meeting or persons attending the hybrid meeting via the electronic platform (in each case, in whatever capacity) shall be communicated by email (or such other medium of electronic communication as the trustee may approve). 35. All resolutions put to a virtual meeting or a hybrid meeting shall be voted on by a poll in accordance with paragraphs 24-27 above (inclusive). 36. Persons seeking to attend, participate in, speak at or join a virtual meeting or a hybrid meeting via the electronic platform shall be responsible for ensuring that they have access to the facilities (including, without limitation, it systems, equipment and connectivity) which are necessary to enable them to do so. 37. In determining whether persons are attending, participating in or joining a virtual meeting or a hybrid meeting via the electronic platform, it is immaterial whether any two or more members attending it are in the same physical location as each other or how they are able to communicate with each other. 38. Two or more persons who are not in the same physical location as each other attend a virtual meeting or a hybrid meeting if their circumstances are such that if they have (or were to have) rights to speak or vote at that meeting, they are (or would be) able to exercise them. 39. The chair of the meeting reserves the right to take such steps as the chair shall determine in its absolute discretion to avoid or minimise disruption at the meeting, which steps may include (without limitation), in the case of a virtual meeting or a hybrid meeting, muting the electronic connection to the meeting of the person causing such disruption for such period of time as the chair may determine. 40. The relevant Issuer (with the Trustee's prior approval) or the Trustee in its sole discretion may make whatever arrangements they consider appropriate to enable those attending a virtual meeting or a hybrid meeting to exercise their rights to speak or vote at it. 41. A person is able to exercise the right to speak at a virtual meeting or a hybrid meeting when that person is in a position to communicate to all those attending the meeting, during the meeting, as contemplated by the relevant provisions of this schedule. 42. A person is able to exercise the right to vote at a virtual meeting or a hybrid meeting when: (a) that person is able to vote, during the meeting, on resolutions put to the vote at the meeting; and (b) that person's vote can be taken into account in determining whether or not such resolutions are passed at the same time as the votes of all the other persons attending the meeting who are entitled to vote at such meeting. 43. The Trustee shall not be responsible or liable to the relevant Issuer or any other person for the security of the electronic platform used for any virtual meeting or hybrid meeting or for accessibility or connectivity or the lack of accessibility or connectivity to any virtual meeting or hybrid meeting. THIS DEED is delivered on the date stated at the beginning.

Signatories NATIONAL GRID ELECTRICITY DISTRIBUTION (EAST MIDLANDS) PLC EXECUTED as a deed by NATIONAL GRID ELECTRICITY DISTRIBUTION (EAST MIDLANDS) PLC ) ) acting by ) ........................................................... ) Director ) ........................................................... ) Company Secretary DocuSign Envelope ID: FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WALES) PLC EXECUTED as a deed by NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WALES) PLC ) ) acting by ) ........................................................... ) Director ) ........................................................... ) Company Secretary DocuSign Envelope ID: FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F

NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WEST) PLC EXECUTED as a deed by NATIONAL GRID ELECTRICITY DISTRIBUTION (SOUTH WEST) PLC ) ) acting by ) ........................................................... ) Director ) ........................................................... ) Company Secretary DocuSign Envelope ID: FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F NATIONAL GRID ELECTRICITY DISTRIBUTION (WEST MIDLANDS) PLC EXECUTED as a deed by NATIONAL GRID ELECTRICITY DISTRIBUTION (WEST MIDLANDS) PLC ) ) acting by ) ........................................................... ) Director ) ........................................................... ) Company Secretary DocuSign Envelope ID: FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F