國家電網配電(西米德蘭茲郡)PLC

(根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號

歐元中期票據方案臨時全球票據臨時全球票據編號：

本臨時全球票據是就本協議附表2 A部所指明的一批及一系列債券(“債券”)發行的

發行人

(“發行者”)。解釋及定義本臨時全球票據中提及的“條件”是指適用於票據的條款及條件(採用發行人與滙豐企業信託(英國)有限公司作為受託人、日期為2023年8月_日的經修訂及重述的信託契約(“信託契約”)附表4(票據的條款及條件)所載的格式，該格式已被本臨時全球票據的條文補充及/或修改及/或取代(包括補充定義及附表2 A部分所載的任何修改或增補)，在發生任何衝突的情況下以其為準)。本臨時全球票據中使用的其他大寫術語應具有條件或信託契約中給予它們的含義。如果本協議第二附表規定適用的TEFRA豁免為“C規則”或“不適用”，則本臨時全球票據為“C規則票據”，否則本臨時全球票據為“D規則票據”。總面值本臨時全球票據不時的總面值應相等於本附表1第四欄最新記項所示的票據面值總額，應由發行和支付代理或其代表在(I)發行本臨時全球票據時填寫，(Ii)將本臨時全球票據的全部或部分交換為永久全球票據的相應權益，或(Iii)贖回或購買和註銷本臨時全球票據，均如下所述。在符合本條款規定的條件下，發行人承諾在兑付時向本臨時全球票據的持票人支付已收到的金額，並在到期日(或根據條件贖回時應支付的金額根據條件可根據條件償還的較早日期)向本臨時全球票據的持票人支付本臨時全球票據的到期日(或根據條件贖回時應支付的金額根據條件可根據條件償還的較早日期)，並(除非本臨時全球票據不產生利息)支付該票據的利息(除非本臨時全球票據不計息)

11/81536398_4 34按照條件所規定的利率、付款日期和計算方法計算的拖欠日期，但計算方法是就票據的總額連同根據條件可予支付的其他款項及額外款額(如有的話)按照條件計算的。在發行日期(“兑換日”)後40天屆滿後的第一天或之後，本臨時全球票據可全部兑換(對持有人免費)，或不時(如屬D規則票據)部分兑換，並在全額兑換時退還永久全球票據的利息的發行和支付代理人，或如本條例附表2如此規定，則為最終票據，其面值總額相等於本臨時全球票據的面值。如果為兑換永久全球票據或最終票據而提交的D Rules票據的任何部分，應在不早於兑換日期的日期之前就此類兑換提交的名義金額提供證明。“認證”是指向發行和支付代理出示與本臨時全球票據中的一個或多個權益有關的一個或多個證書，該證書由歐洲結算公司或盧森堡Clearstream簽署，實質上符合《代理協議》附表4(清算系統非美國公民身份和居留證書)中規定的意思，表明它已收到實質上與附表3(美國以外地區的賬户持有人證書)中規定的意思相同的一份或多份證書。當本臨時全球票據的全部或部分兑換為永久全球票據時，該永久全球票據應可根據其最終票據條款進行兑換。本臨時全球票據或永久全球票據可交換的最終票據須妥為籤立及認證，如屬最終票據，則須附有尚未就本臨時全球票據或永久全球票據(視屬何情況而定)支付的利息的所有息票(及(如適用)爪子)，須為防偽印製，並應基本上採用經補充及/或修訂及/或由附表2的條款取代的信託契約附表所載的格式。在將本臨時全球票據的一部分交換為永久全球票據或最終票據的等值權益(視屬何情況而定)時，如此交換的面值部分應由發行和支付代理人或其代表在本協議第一附表中背書，因此，在所有目的下，面值應減去如此交換和背書的金額。條件利益除本協議另有規定外，本臨時全球票據須受該等條件及信託契約所規限，而直至本臨時全球票據全部兑換為永久全球票據或最終票據或註銷前，該臨時全球票據持有人在各方面均有權享有猶如其為永久全球票據(或其相關部分)或最終票據(視屬何情況而定)的持有人所享有的相同利益，猶如該永久全球票據或最終票據已於發行日發行一樣。就D規則票據於交易所日期前到期的付款，只可就本臨時全球票據的名義金額支付，而該臨時全球票據的付款日期須不早於該到期日。就本臨時全球票據支付的任何款項應在提示時向其持有人支付，並(如果沒有進一步付款)將其交回發行和支付代理人或條件中規定的任何其他支付代理人的指定辦事處。如果就本臨時全球票據所代表的任何票據支付了全額本金，則本臨時全球票據中代表該票據的部分應被註銷，註銷的金額應由發行和付款代理或其代表在本臨時全球票據的附表1中背書(該背書是有關付款已支付的表面證據)，因此，在所有情況下，本臨時全球票據的面值應減去如此註銷和背書的金額。如果就本臨時全球票據所代表的票據支付了任何其他付款，則每筆付款的記錄應由發行和付款代理或其代表在本票據的附加附表上背書(這種背書是有關付款已支付的表面證據)。就就本臨時全球票據所作的任何付款而言，條件7.7(非營業日)中的營業日定義中不應使用“在相關提示地點”的字樣。儘管有第15條(通知)的規定，本臨時全球票據所代表的票據所需發出的通知可通過將其交付(只要本臨時全球票據是代表歐洲結算和盧森堡Clearstream或任何其他結算系統持有)至EuroClear、Clearstream、盧森堡或其他清算系統(視情況而定)或以其他方式發給本臨時全球票據持有人的方式發出，而不是按照條件的要求以公佈的方式發出。本臨時全球票據的任何規定不得改變或損害發行人在按照條件到期時支付票據本金、溢價和利息的義務。在發行和付款代理或其代表認證之前，這張臨時全球鈔票在任何目的下都不會有效，也不會成為強制性的。本臨時全球票據以及由此產生或與之相關的任何非合同義務應受英國法律管轄。

11/81536398_4 36為證，本臨時全球票據已由出票人以其名義正式簽署。日期截至發行日期。

發行人

發行人：認證證書這種臨時全球票據由發行和支付代理或其代表認證。滙豐銀行有限公司作為發行和支付代理：授權簽字人僅供認證之用。任何負有這一義務的美國人將受到美國所得税法的限制，包括國內税法第165(J)條和第1287(A)條規定的限制。11/81536398_4 37本臨時全球票據所代表的第一附表票面金額以下(I)本臨時全球票據最初所代表的票據的發行，(Ii)本臨時全球票據的全部或部分以換取永久全球票據或最終票據的利息及/或(Iii)已取消或沒收本臨時全球票據的權益，導致本臨時全球票據的面額在以下第四欄的最新分錄中列明：本臨時全球票據面額減少的日期本臨時全球票據面額減少的原因(交易所，取消或沒收)本臨時全球票據在發行時或在由發行和付款代理或代表發行和付款代理髮行日期作出的此類減記之後的名義金額不適用不適用

11/81536398_4 38附表2

插入相關條款

最終條款/定價補充資料

與作為附表2的條件或全球票據有關的事項

11/81536398_4 39中廣核永久全球鈔票第二部分格式

國家電網配電(東米德蘭)PLC

國家電網配電(南威爾士)PLC[國網配電(西南)PLC]/[國家電網配電(西米德蘭茲郡)PLC]/[(根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號]/[歐元中期票據方案永久全球票據永久全球票據編號]本永久全球紙幣是就本協議附表3 A部分所述的S一批及系列的債券(“債券”)發行的[02366923]/[02366985]/[02366894]/[03600574]發行人[•](“發行者”)。解釋和定義本永久全球票據中對“條件”的引用是指適用於票據的條款和條件(其格式載於發行人和作為受託人的滙豐公司信託(英國)有限公司於2023年8月_日修訂和重述的信託契約(“信託契約”)附表4(票據的條款和條件)所載的格式，該格式已被本永久全球票據的規定補充和/或修改和/或取代(包括補充定義和附表3 A部分所載的任何修改或增補)，在發生任何衝突的情況下以其為準)。本永久全球票據中使用的其他大寫術語應具有條件或信託契約中給予它們的含義。面值總額本永久全球票據不時的面值總額須相等於本附表1第4欄內最新記項所示的票據面值總額，並須由發行及支付代理人或其代表在(I)將最初代表票據的全部或部分臨時全球票據(如屬發行時由臨時全球票據代表的票據)、(Ii)發行本永久全球票據所代表的票據(如屬發行時本永久全球票據所代表的票據)交換時填寫，(Iii)將本永久全球票據的全部或部分交換為最終票據，及/或(Iv)贖回或購買及註銷本票據，詳情如下。在符合本協議規定的條件下，發行人承諾根據收到的金額向本永久全球票據的持票人付款，並(當本永久全球票據沒有到期的進一步付款時)退還本永久全球票據，在到期日(或在條件下贖回時須支付的款額按照條件須予償還的較早日期)，根據條件贖回本永久全球票據所代表的票據面值總額的應付款額，以及(除非本永久全球票據不計息)須就該等票據支付利息，利率、付款日期及按照該等條件所規定的計算方法計算的利息，但計算方法則除外[11/81536398_4 40按照條件，債券的總額，連同根據條件可能須支付的其他款項及額外款項(如有的話)。交易所本永久全球票據可於交易所日期或之後全部兑換(對持有人免費)，但如本永久全球票據是代表歐洲結算或盧森堡Clearstream或任何其他結算系統(“另類結算系統”)持有，且任何該等結算系統連續14天(法定或其他節假日除外)或宣佈有意永久停業或確實如此，則不能部分兑換最終票據。“匯兑日期”是指在發出要求匯兑的通知之日起不少於60天，銀行在發行和支付代理人的指定辦事處所在城市以及(除上述匯兑情況外)歐洲清算銀行和盧森堡Clearstream或替代清算系統(如果相關)所在的城市營業的日期。任何此類交換均可在交易日或之後，由本永久全球票據的持有者將本永久全球票據交還給發行和付款代理或按其命令進行。條件利益除本協議另有規定外，本永久全球票據須受該等條件及信託契約所規限，而直至本永久全球票據全部兑換為最終票據或註銷前，該永久全球票據持有人在各方面均有權享有相同利益，猶如其為可兑換之最終票據持有人及猶如該等最終票據已於發行日發行一樣。任何人無權就本永久全球票據所代表的票據收取在此類票據的交換日期後到期的任何付款，除非在正式出示本永久全球票據以供交換時，發行人或其代表不當地扣留或拒絕交付最終票據，或發行人沒有履行或履行任何一項或多項最終票據項下的義務。有關本永久全球鈔票的付款須於提示時支付予持有人，並(如無進一步付款)交回發行及付款代理人或條件所規定的任何其他付款代理人的指定辦事處。每項上述付款的紀錄，須由發證及付款代理人或有關的付款代理人(視何者適用而定)在本文件附表1或2內為發證及付款代理人或代發證及付款代理人批註，而該批註即為有關付款已作出的表面證據(直至相反證明成立為止)。就本永久全球票據所作的任何付款而言，在條件7.7(非營業日)的營業日定義中，“在有關交單地點”的字樣不適用。就任何票據持有人會議而言，本永久全球票據持有人應視為對票據指定貨幣的每個整數貨幣單位有一票投票權。註銷本永久全球票據所代表的任何票據，如須予註銷的條件所規定(贖回時除外)，須在向發行及付款代理人出示該票據以供背書時，減少該永久全球票據的面額，或按發行及付款代理人的指示於附表1作出背書，因此，在所有目的下，本永久全球票據的面值均應減去如此註銷及背書的金額。只有在購買票據時，發行人才能購買該票據，並有權獲得未來的所有利息付款。發行人的選擇權條件中規定的發行人的任何選擇權，應由發行人在條件規定幷包含條件所要求的信息的時限內向票據持有人發出通知，但通知不需要包含在部分行使選擇權的情況下提取的票據的序列號，因此不需要提取票據。 通知儘管有第15條（通知），但就本永久性全球票據所代表的票據需要發出的通知可以在票據交付時發出（只要該永久全球票據是代表歐洲清算銀行、Clearstream、盧森堡或任何其他清算系統持有的）至歐洲清算銀行、Clearstream、盧森堡或此類其他清算系統（視情況而定），或以其他方式提供給該永久全球票據的持有人，而不是按照條件要求發佈。 ]11/81536398_4 42本永久全球紙幣是無記名票據，可轉讓，因此：(A)可自由交付轉讓，此種轉讓的作用是賦予受讓人與本票據有關的一切權利和利益，並根據條件約束受讓人與本票據有關的所有義務；(B)與所有以前的持有人相比，本永久全球票據的持有人有絕對權利收取贖回時應付的所有款項、利息或以其他方式就本永久全球票據支付的款項，而發行人已放棄該持有人及本永久全球票據的任何先前持有人就本永久全球票據所證明的義務而將會或可能獲得的所有抵銷或反索償權利；及(C)本永久全球票據一經如期出示，本文件所規定的付款將對該持有人及本永久全球票據的所有先前持有人具有良好的清償作用。本永久全球票據的任何規定不得改變或損害發行人在按照條件到期時支付票據本金、溢價和利息的義務。在發行和支付代理或其代表認證之前，這種永久全球紙幣在任何目的下都不會有效或成為強制性的。本永久全球票據以及由此產生或與之相關的任何非合同義務應受英國法律管轄。11/81536398_4 43茲證明發票人已代表其正式簽署了這張永久全球票據。日期截至發行日期。

發行人

由：認證證書這種永久全球鈔票由發行和支付代理或其代表認證。滙豐銀行有限公司作為發行和支付代理：授權簽字人僅供認證之用。任何負有這一義務的美國人將受到美國所得税法的限制，包括國內税法第165(J)條和第1287(A)條規定的限制。[11/81536398_4 44本永久全球紙幣所代表的紙幣面值第一附表以下(I)最初由本永久全球紙幣代表的紙幣的發行，(Ii)以臨時全球紙幣的利息交換本永久全球紙幣的利息，(Iii)以本永久全球紙幣的全部或部分交換最終紙幣，(Iv)取消或沒收本永久全球紙幣的權益及/或(V)已支付贖回本永久全球紙幣的應付款項，產生第四欄最新條目中規定的該永久全球票據的名義金額：本永久全球票據名義金額增加/減少的日期本永久全球票據名義金額增加/減少的原因(初始發行、交換、註銷、沒收或付款，説明已支付的金額)本永久全球票據的名義金額根據發行和付款代理或其代表所作的上述增減計息11/81536398_4 45附表2已就本永久全球票據支付下列利息或利息金額：到期日付款日期支付日期由發行和支付代理或其代表作出的計息金額]11/81536398_4 46附表3

插入相關條款[最終條款/定價補充資料[這與作為附表3的條件或全球票據有關。]11/81536398_4 47第四附表行使票據持有人的選擇權條件中規定的票據持有人的選擇權已就本永久全球票據的名義金額進行了以下行使：行使日期行使該永久全球票據的名義金額行使該選擇權的日期是由發行和付款代理人或其代表作出的有效記號]11/81536398_4 48第三部分新一代全球臨時票據格式[國家電網配電(東米德蘭)PLC]/[國家電網配電(南威爾士)PLC]/[國網配電(西南)PLC]/[國家電網配電(西米德蘭茲郡)PLC](根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號[02366923]/[02366985]/[02366894]/[03600574]歐元中期票據方案臨時全球票據臨時全球票據編號：[•]本臨時全球票據是就本協議附表A部所指明的一批及一系列債券(“債券”)發行的[發行人](“發行者”)。解釋和定義本臨時全球票據中提及的“條件”是指適用於票據的條款和條件(採用發行人和作為受託人的滙豐公司信託(英國)有限公司於2023年8月_日修訂和重述的信託契約(“信託契約”)附表4(票據的條款和條件)所載的格式，該格式由本臨時全球票據的規定補充和/或修改和/或取代)(包括補充定義和本臨時全球票據A部分所載的任何修改或增補)，在發生任何衝突的情況下以其為準)。本臨時全球票據中使用的其他大寫術語應具有條件或信託契約中給予它們的含義。如果本協議第二附表規定適用的TEFRA豁免為“C規則”或“不適用”，則本臨時全球票據為“C規則票據”，否則本臨時全球票據為“D規則票據”。總面值本臨時全球票據的總面值應等於不時在歐洲結算系統和盧森堡Clearstream(統稱為“相關結算系統”)的記錄中記錄的票據的面值總額，應在(I)發行本臨時全球票據時完成和/或修訂(視情況而定)，(Ii)將本臨時全球票據的全部或部分交換為相關結算系統記錄的永久全球票據的相應利息，或交換為最終票據，及/或(Iii)贖回或購買及註銷本文件所述的票據，詳情如下。本臨時全球票據的持票人(如未就本臨時10 11/81536398_4 49期票據進一步付款時)退還本臨時全球票據，在到期日(或在根據條件贖回時須支付的款額按照條件可予償還的較早日期)，就本臨時全球票據所代表的票據面值總額而根據條件贖回時須支付的款額，以及(除非本臨時全球票據並不計息)就該等票據支付利息的款項(除非本臨時全球票據並無計息)，並須按該等條件所規定的利率、付款日期及計算方法就該等票據支付利息，但該計算方法是就該等票據的總額計算的，連同根據該等條件而須按照該等條件支付的其他款項及額外款額(如有的話)。“認證”是指向發行和支付代理提交一份或多份關於本臨時全球票據中一個或多個權益的證書，該證書由歐洲結算公司或盧森堡Clearstream簽署，實質上符合《代理協議》附表4(清算系統非美國公民身份和居留證書)中規定的意思，表明它已收到與代理協議附表3(非美國公民身份和居留身份的賬户持有人證書)基本相同的一份或多份證書，並且歐洲清算銀行或盧森堡Clearstream沒有收到關於其內容的相反意見。視情況而定。當本臨時全球票據的全部或部分兑換為永久全球票據時，該永久全球票據應可根據其最終票據條款進行兑換。本臨時全球票據或永久全球票據可交換的最終票據須妥為籤立及認證，如屬最終票據，則須附有尚未就本臨時全球票據或永久全球票據(視屬何情況而定)支付的利息的所有息票(及(如適用)爪子)，須為防偽印製，並應基本上採用信託契約附表所載經補充及/或修訂及/或由本協議附表A部條款取代的格式。 條件的好處除非本文另有規定，此臨時全球票據受條件和信託契約的約束，並且，直到整個此臨時全球票據被交換為永久全球票據或保留票據的同等權益或被註銷為止，此臨時全球票據的持有人在各方面均有權享受與永久全球票據持有人相同的福利

11/81536398_4 50(或其相關部分)或最終票據(視屬何情況而定)，可予以兑換，猶如該永久全球票據或最終票據是在發行日發行的一樣。付款任何人無權就本臨時全球票據所代表的票據收取在交易所日期或之後到期的任何付款，除非在正式出示本臨時全球票據以供交換時，發行人或其代表不當扣留或拒絕交付永久全球票據或最終票據(視屬何情況而定)。就D Rules票據在交易所日期前到期的付款，只可就本臨時全球票據的名義金額支付，而該臨時全球票據的證明日期不得早於該付款到期日。就本臨時全球票據支付的任何款項應在提示時支付給其持有人，並(如果沒有進一步付款)將其交回發行和支付代理人或條件中規定的任何其他支付代理人的指定辦事處，而如此支付的每一筆款項將解除發行人對此的義務。任何未能在本文所指的相關結算系統的記錄中記入的事項，不應影響該項清償。如就本臨時全球票據所代表的任何票據支付任何全數或部分本金，發行人應促使該等付款詳情按比例載入相關結算系統的記錄內，而在作出任何該等記項後，本臨時全球票據所代表的有關票據的面值須減去如此贖回的票據的總面值。如果就本臨時全球票據所代表的票據支付了任何其他款項，發行人應促使將每筆付款的記錄按比例記錄在相關結算系統的記錄中。就就本臨時全球票據所作的任何付款而言，條件7.7(非營業日)的“營業日”的定義不適用於“在有關交單地點”的字樣。註銷本臨時全球票據所代表的任何票據如為註銷條件所要求(贖回時除外)，發行人應促使註銷詳情按比例載入相關結算系統的記錄內，而在作出任何此等記項後，本臨時全球票據所代表的票據的面值須減去如此註銷的票據的總面值。儘管有第15條(通知)的規定，本臨時全球票據所代表的票據所需發出的通知可以交付(只要本臨時全球票據是代表歐洲結算和/或盧森堡Clearstream或任何其他獲準結算系統持有)給EuroClear、Clearstream、盧森堡或其他獲準結算系統(視情況而定)或以其他方式發給本臨時全球票據持有人的方式發出，而不是按照條件的要求以公佈的方式發出。本臨時全球票據的任何規定不得改變或損害發行人在按照條件到期時支付票據本金、溢價和利息的義務。在發行和支付代理人或其代表認證並由相關結算系統指定為共同安全保管人的實體履行之前，臨時全球票據在任何目的下均無效或成為強制性的。11/81536398_4 51本臨時全球票據和由此產生或與之相關的任何非合同義務應受英國法律管轄。

11/81536398_4 52為證，本臨時全球票據已由發票人代表其正式簽署。日期截至發行日期。[發行人]發行人：認證證書這種臨時全球票據由發行和支付代理或其代表認證。滙豐銀行有限公司作為發行和支付代理：授權簽字人僅供認證之用。本臨時全球票據由共同保管人或代表共同保管人完成。

常見安全措施

作為共同保管人：授權簽字人僅為履行的目的。任何負有這一義務的美國人將受到美國所得税法的限制，包括國內税法第165(J)條和第1287(A)條規定的限制。11/81536398_4 53時間表[插入相關條款[最終條款/定價補充資料]與條件或作為附表的全球票據有關的事項]11/81536398_4 54第四部分NGN永久全球票據格式

國家電網配電(東米德蘭)PLC[國家電網配電(南威爾士)PLC]/[國網配電(西南)PLC]/[國家電網配電(西米德蘭茲郡)PLC]/[(根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號]歐元中期票據方案永久全球票據永久全球票據編號[02366923]/[02366985]/[02366894]/[03600574]本永久全球紙幣是就本協議附表A部分所述的S一批及系列的債券(“債券”)發行的[•]發行人[(“發行者”)。解釋和定義本永久全球票據中對“條件”的引用是指適用於票據的條款和條件(其格式載於發行人和作為受託人的滙豐公司信託(英國)有限公司於2023年8月_日修訂和重述的信託契約(“信託契約”)附表4(票據的條款和條件)所載的格式，該格式已被本永久全球票據的規定補充和/或修改和/或取代(包括補充定義和本永久全球票據A部分所載的任何修改或增補)，在發生任何衝突的情況下以其為準)。本永久全球票據中使用的其他大寫術語應具有條件或信託契約中給予它們的含義。總票面金額本永久全球票據不時的總票面金額應相等於不時載入歐洲結算及盧森堡Clearstream(統稱為“相關結算系統”)記錄內的票據的總票面金額，並須視乎情況而定完成及/或修訂(I)在最初代表票據的臨時全球票據的記錄中記錄的全部或部分權益的交換(如屬發行時由臨時全球票據代表的票據)，(Ii)發行本永久全球票據(如屬發行時由本永久全球票據代表的票據)、(Iii)全部或(在有限情況允許的情況下)兑換本永久全球最終票據的一部分及/或(Iv)贖回或購買及註銷本票據，詳情如下。10 11/81536398_4 55在此規定的前提下，發行人承諾向本永久全球票據的持票人支付所收到的金額，本永久全球票據一經出示及(如本永久全球票據並無其他到期款項)於到期日(或在根據條件贖回時可根據條件贖回應付款項的較早日期)交回時，須就本永久全球票據所代表的票據面值總額支付贖回時應支付的款額，並(除非本永久全球票據並不計息)就該等票據支付利息，利率、兑付日期及按照本條件所規定的計算方法，但債券總額連同根據該等條件而須支付的其他款項及額外款額(如有的話)，則須按照有關條件計算。交易所本永久全球票據可於交易所日期或之後全部兑換(對持有人免費)，但如本永久全球票據是代表歐洲結算或盧森堡Clearstream或任何其他獲準結算系統(“另類結算系統”)持有，且任何該等結算系統連續14天(法定或其他原因除外)關閉營業，或宣佈有意永久停業或確實這樣做，則不能部分兑換最終票據。任何此類交換均可在交易日或之後，由本永久全球票據的持有者將本永久全球票據交還給發行和付款代理或按其命令進行。作為本永久全球票據的交換，發行人應交付或促使交付經正式籤立及認證的最終票據，總面值相當於提交交換的本永久全球票據的面值(如適用，已附上尚未就本永久全球票據支付的利息的所有息票(及(如適用)爪子))、印製並基本上按信託契據附表所載格式印製並經本信託契據A部分條款補充及/或修訂及/或取代的抵押品。條件利益除本協議另有規定外，發行人須在受條件及信託契約規限下取得該等利益，直至將整張永久全球票據兑換為最終票據或註銷為止，該永久全球票據持有人在各方面均有權享有相同利益，猶如其為可交換的最終票據持有人，以及猶如該等最終票據已於發行日發行一樣。任何人無權就本永久全球票據所代表的票據收取在此類票據的交換日期後到期的任何付款，除非在正式出示本永久全球票據以供交換時，發行人或其代表不當地扣留或拒絕交付最終票據，或發行人沒有履行或履行任何一項或多項最終票據項下的義務。 就該永久性全球票據支付的款項應在發行人指定辦事處出示並（如果無需進一步付款）交回後支付給持有人， ]11/81536398_4 56付款代理人或條件中規定的任何其他付款代理人，如此支付的每一筆款項將解除出票人對此的義務。任何未能在本文所指的相關結算系統的記錄中記入的事項，不應影響該項清償。發行人應促使每筆付款的細節按比例載入相關結算系統的記錄中，如屬本金支付，且在作出任何該等記項時，記錄在相關結算系統記錄中並由本永久全球票據代表的票據面值須減去如此贖回的票據的面值總額。就本永久全球票據所作的任何付款而言，在條件7.7(非營業日)的營業日定義中，“在有關交單地點”的字樣不適用。關於本永久全球票據的本金和利息(均在條件中定義)的法定債權將無效，除非在適當的相關日期起十年(本金)和五年(如果是利息)內出示以供支付。就任何票據持有人會議而言，本永久全球票據持有人應視為對票據指定貨幣的每個整數貨幣單位有一票投票權。只有在購買票據時，發行人才能購買該票據，並有權獲得未來的所有利息付款。發行人的選擇權條件中規定的發行人的任何選擇權，應由發行人在條件規定幷包含條件所要求的信息的時限內，向發行和支付代理、票據持有人和相關結算系統發出通知(或促使該通知以其的名義發出)，但通知不應要求包含在部分行使選擇權的情況下提取的票據的序列號，因此無需提取票據。在部分行使期權的情況下，擁有清算系統的會計持有人對票據的權利將受歐洲結算公司和/或盧森堡Clearstream的標準程序管轄，並應酌情作為集合係數或名義金額減少反映在歐洲結算公司和/或盧森堡Clearstream的記錄中。在行使任何此類選擇權後，發行人應促使記錄在相關結算系統記錄中並由本永久全球票據代表的票據的名義金額應相應減少。11/81536398_4 57票據持有人的選擇權條件中規定的任何票據持有人的選擇權可由本永久全球票據的持有人在與向付款代理人存入票據有關的時限內向付款代理人發出通知而行使，但該通知不需包含已行使選擇權的票據的證書號碼。儘管有第15條(通知)的規定，本永久全球票據所代表的票據所需發出的通知可以交付(只要本永久全球票據是代表歐洲結算和/或盧森堡Clearstream和/或替代結算系統持有)給EuroClear、Clearstream、盧森堡和/或該替代結算系統(視情況而定)的方式發出，或以其他方式向本永久全球票據的持有人發出，而不是按照條件的要求以公佈的方式發出。可流轉性本永久全球紙幣為無記名票據，可轉讓，因此：(A)可自由地以交付方式轉讓，此種轉讓應賦予受讓人與本票據有關的一切權利和利益，並根據條件約束受讓人與本票據有關的所有義務；(B)與所有以前的持有人相比，本永久全球票據的持有人有絕對權利收取贖回時應付的所有款項、利息或以其他方式就本永久全球票據支付的款項，而發行人已放棄該持有人及本永久全球票據的任何先前持有人就本永久全球票據所證明的義務而將會或可能獲得的所有抵銷或反索償權利；及(C)本永久全球票據一經如期出示，本文件所規定的付款將對該持有人及本永久全球票據的所有先前持有人具有良好的清償作用。本永久全球票據的任何規定不得改變或損害發行人在按照條件到期時支付票據本金、溢價和利息的義務。 本永久全球票據以及由此產生或相關的任何非合同義務應受英國法律管轄。

11/81536398_4 58為證，發行人已促使本永久全球票據以其名義正式簽署。日期截至發行日期。

發行人[由：認證證書這種永久全球鈔票由發行和支付代理或其代表認證。滙豐銀行有限公司作為發行和支付代理：授權簽字人僅供認證之用。本永久全球票據由共同保管人或代表共同保管人完成。]常見安全措施[作為共同保管人：授權簽字人僅為履行的目的。任何負有這一義務的美國人將受到美國所得税法的限制，包括國內税法第165(J)條和第1287(A)條規定的限制。11/81536398_4 59時間表]插入相關條款[最終條款/定價補充資料[這與條件或作為時間表的全球筆記有關。]11/81536398_4 60第5部分全球證書格式]

除非本證書由CDS清算和託管服務公司的授權代表出示。(“CDS”)至[國家電網配電(東米德蘭)PLC]/[國家電網配電(南威爾士)PLC]/[國網配電(西南)PLC]/[國家電網配電(西米德蘭茲郡)PLC](“髮卡人”)或其代理登記轉賬、兑換或付款，並以CDS&Co.的名義或CDS授權代表要求的其他名稱登記(任何款項均向CDS&Co.支付)。或CDS授權代表要求的其他實體)，任何人或向任何人轉讓、質押或以其他方式使用本證書是錯誤的，因為本證書的註冊持有人CDS&Co.在本證書所代表的證券中擁有財產權益，而另一人持有、轉讓或處理本證書是對其權利的侵犯。[02366923]/[02366985]/[02366894]/[03600574]本證券不是也不會根據1933年修訂後的《美國證券法》(以下簡稱《證券法》)或任何其他適用的美國州證券法登記，或向美國任何州或其他司法管轄區的任何證券監管機構登記，因此，不得在美國境內或向美國人提供或出售，或為美國人的賬户或利益提供或銷售，除非符合代理協議和信託契約，以及根據證券法登記豁免，或根據證券法下的有效登記聲明。本圖例在本紙幣所屬部分的所有紙幣派發完成後的40天期間屆滿時停止適用。[•]國家電網配電(東米德蘭)PLC[國家電網配電(南威爾士)PLC]國網配電(西南)PLC

國家電網配電(西米德蘭茲郡)PLC

(根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號[歐元中期票據方案全球證書全球證書編號：]本全球證書是就本證書附表A部分所指明的一批及系列債券(“債券”)的上述面額而發行的[發行人](“發行者”)[1.本全球證書證明[名列註冊紀錄冊的人]CDS&Co.作為CDS的提名者]

(“註冊持有人”)已登記為1的持有人。如在CDS持有的票據，請在全球證書的正面填上票據的標題、CUSIP、發行日期及ISIN。11/81536398_4 61發行面額、指定貨幣及指定面額的紙幣[在本協議附表A部中[在上面]/[。解釋及定義本全球證書中所指的“條件”是指適用於票據的條款及條件(該等條款及條件載於發行人與滙豐企業信託(英國)有限公司作為受託人於2023年8月_日訂立的經修訂及重述的信託契約(“信託契據”)附表4所載的格式，該等格式會被本全球證書的條文(包括補充定義及本證書附表A部分所載的任何修改或增補)所補充及/或修訂及/或取代，如有任何衝突，則以該等格式為準)。本全球證書中使用的其他大寫術語應具有條件或信託契約中給予它們的含義。承諾向發行者支付已收到的價值，承諾在出示時向本全球證書所代表的票據的持有人支付，並(當沒有就本全球證書所代表的票據進一步付款的情況下)在到期日(或在根據條件贖回時應支付的金額根據條件可變得可根據條件償還的較早日期)交出本全球證書所代表的票據的應付金額，以及(除非本證書所代表的票據不計息)就該等票據支付利息(除非本證書所代表的票據不產生利息)，在付款日期，並按照條件中規定的計算方法，但計算方法是根據本全球證書所代表的票據的總金額，連同根據條件可能應支付的其他款項和額外金額(如有)，按照條件進行計算。每筆款項將於緊接付款日期前的結算系統營業日，於收市時登記於登記冊上的人士或按其指示支付，結算系統營業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)。就本全球證書而言，(A)本全球證書所代表的票據的持有人受代理協議的條文約束，(B)發行者證明註冊持有人於本證書日期已登記為本全球證書所代表的票據的持有人，(C)本全球證書僅為權利的證據，(D)本全球證書所代表的票據的所有權僅在正式登記時轉移，及(E)只有本全球證書所代表的票據的持有人有權就本全球證書所代表的票據獲得付款。轉讓以永久全球證書為代表的紙幣如果本協議的附表載明該等紙幣將由一張永久的全球發行證書代表，則根據條件2.2(已登記紙幣的轉讓)，持有本全球證書所代表的紙幣的轉讓只可部分進行：(A)]/[如本全球證書所代表的票據是代表歐洲結算或盧森堡Clearstream或任何其他結算系統(CDS除外)(“替代結算系統”)持有，而任何該等結算系統因節假日(法定或其他原因除外)連續14天關閉營業，或宣佈有意永久停業或事實上已這樣做]/[如果本全球證書所代表的票據是以CDS的名義持有的，並且(I)CDS已通知發行人它不願意或不能繼續作為CDS的託管人，請使用此替代方案在EuroClear/Clearstream或CDS以外的其他清算系統進行票據結算。10]11/81536398_4 62發行人在收到通知後90個工作日內沒有指定票據和後續託管機構；或(Ii)根據適用的加拿大或省級證券法，CDS不再是認可結算機構，並且在發行人意識到CDS不再獲得認可後90個工作日內，沒有令受託人滿意的後續清算系統可用]3或(C)經出票人同意，但在根據上述(A)項首次轉讓部分持有量的情況下，本全球證書所代表的票據持有人已在其指定辦事處向註冊官發出不少於30天的通知，表明該持有人有意進行此類轉讓。如果本全球證書所代表的票據的持有僅可全部轉讓，則在轉讓該持有時向受讓人發放的證書應為全球證書。在允許部分轉讓的情況下，發給受讓人的證書不得為全球證書，除非受讓人向登記處提出請求，並向註冊官證明它是或正在作為Clearstream、盧森堡、歐洲結算和/或替代結算系統的代名人。發行人的選擇權與行使條件6.5(發行人選擇贖回及行使發行人選擇權)所載的選擇權有關，本全球證書所代表的票據可按發行人根據條件指定的本金部分贖回，而將不會按條件所規定選擇贖回的票據。票據持有人的選擇權條件中規定的票據持有人的任何選擇權，可由票據持有人於條件所載有關將票據存放於付款代理人的時限內通知發行及付款代理人而行使，通知形式主要為可從任何付款代理人處取得的通知，惟通知不須載有已行使選擇權的票據的證書編號。在行使任何該等選擇權後，發行人應促使記錄在相關結算系統記錄中並由永久全球證書代表的票據的面值應減去相關行使通知中所述的總面值。儘管有條件15(通知)，只要本全球證書是代表EuroClear、Clearstream、盧森堡、CDS或任何其他結算系統(“替代結算系統”)持有的，向本全球證書所代表的票據持有人發出的通知可通過將相關通知交付給EuroClear、Clearstream、盧森堡、CDS或(視情況而定)該替代結算系統的方式發出。權利的確定本全球證書僅是權利的證據，不是所有權文件。權利由登記冊確定，只有票據持有人有權獲得關於本全球證書的付款。會議3對加拿大CDS清算系統中的票據結算使用這種替代方案。11/81536398_4 63就任何票據持有人會議而言，本全球證書所代表的票據持有人應被視為有權就票據指定貨幣的每個整數貨幣單位投一票。在註冊官或其代表認證之前，本全球證書在任何目的下均無效，且僅就在NSS下持有的已登記票據而言，由相關結算系統指定為共同保管人的實體完成。本全球證書及由此產生或與之相關的任何非合同義務應受英國法律管轄。本全球證書由發行方代表其簽署，特此為證。日期截至發行日期。[發行人]/[4由：認證證書本全球證書由註冊官或其代表認證。]/[滙豐銀行股份有限公司]/[加拿大代理商名稱]作為註冊官：僅用於認證目的的授權簽字人。[02366923]/[02366985]/[02366894]/[03600574]本全球證書由共同安全管理員或其代表完成[•][常見安全措施[作為共同保管人：僅為完成通過新系統持有的已登記票據的目的而授權簽字人]5、4 CDS要求和“濕墨水”簽名原件。不能使用主備註5刪除CDS中保存的備註]11/81536398_4 64已簽署轉賬至………………………………………的價值轉賬表格。………………………………………。(請用印刷體或打字填寫受讓人姓名和地址)[本全球證書所代表的票據的名義金額及其下的所有權利。註明日期的………………………………………。簽名的……………………………………。認證簽名説明：(A)完成轉讓的人的簽名應符合本全球證書所代表的票據持有人提供的正式授權的簽名樣本列表，或(如果該簽名與本全球證書表面的名稱相對應)由公證機構或認可銀行認證，或由轉讓代理或註冊處處長合理要求的其他證據支持。(B)票據持有人的代表應説明他簽署遺囑執行人的身份。11/81536398_4 65附表][插入相關條款]最終條款/定價補充資料[與條件或作為時間表的全球證書有關的條款。][11/81536398_4 66附表2正面的最終不記名票據格式：]面額[詞條]2 (b) [系列

證書。不是的。]貨幣和麪額[國家電網配電(東米德蘭)PLC]國家電網配電(南威爾士)PLC[國網配電(西南)PLC][國家電網配電(西米德蘭茲郡)PLC](根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號[)歐元中期票據方案系列編號：[發行名稱]本附註是上述一系列附註(以下簡稱“附註”)的其中一種]發行人

(“髮卡人”)，如本合同標題所述。該等票據須受本附註所批註的條款及條件(“該等條件”)規限，並受該等條件所述信託契約的規限及受惠而發行。條件中定義的表達在本附註中具有相同的含義。本票票面價值的出票人承諾於本票到期日(或在根據該等條件贖回時須支付的款額按照該等條件須予償還的較早日期)向本票據的持票人出示並(如無就本票再付款項的情況下)在到期日(或在根據該等條件贖回時須支付的款額的較早日期)按該等條件所規定的利率、款額及付款日期支付利息，以及根據該等條件須支付的其他款項及額外款額(如有的話)，自開始付息日起支付利息，符合條件的。本票據在未經簽發及付款代理人或其代表認證前，不得為任何目的而成為有效或有義務的票據。11/81536398_4 67本提單由發票人代表其簽署，特此為證。日期截至發行日期。[•]發行人[由：認證證書本票據由簽發和付款代理或其代表認證。滙豐銀行有限公司作為發行和支付代理：授權簽字人僅供認證之用。任何負有這一義務的美國人將受到美國所得税法的限制，包括國內税法第165(J)條和第1287(A)條規定的限制。[11/81536398_4 68背面：附註的條款及條件]經修訂的信託契據附表4(附註的條款及條件)所載的條款及條件，以及加入構成該等條款及條件一部分的任何附加條文，並列於有關的]

最終條款/定價補充資料[須在此列明。][發行和支付代理][發行和支付代理][付款代理][···11/81536398_4 69附表3正面證書格式：][國家電網配電(東米德蘭)PLC]/[國家電網配電(南威爾士)PLC]/[國網配電(西南)PLC]/[國家電網配電(西米德蘭茲郡)PLC](根據1985年《公司法》在英格蘭和威爾士註冊成立為有限責任公司，註冊編號[02366923]/[02366985]/[02366894]/[03600574])歐元中期票據方案系列編號：[•][發行名稱]本證書證明[的](“登記持有人”)在本合約日期已登記為[名義金額]上述系列債券(以下簡稱“債券”)的

發行人[(“髮卡人”)，如本合同標題所述。該等票據須受本附註所批註的條款及條件(“該等條件”)規限，並受該等條件所述信託契約的規限及受惠而發行。條件中定義的詞語在本證書中具有相同的含義。對於收到的價值，出票人承諾在出示時向本證書所代表的票據(S)的持有人(S)支付，並(如沒有就本證書所代表的票據(S)的進一步付款到期)在到期日(或在根據條件贖回時應支付的款項按照條件可成為可予償還的較早日期)交出本證書所代表的票據的應付款額，並(除非本證書所代表的票據(S)不產生利息)就該等票據支付利息，自到期利息起始日起按利率計算，在該等條件所規定的款額及付款日期，連同根據該等條件可予支付的其他款項及額外款額(如有的話)，按照該等條件。就本證書而言，(A)本證書所代表的票據(S)的持有人受代理協議的條文約束，(B)出票人證明登記持有人在本證書日期當日已作為本證書所代表的票據(S)的持有人記入登記冊，(C)本證書僅作為權利的證據，(D)本證書所代表的票據(S)的所有權僅在正式登記於登記冊時轉移，及(E)只有本證書所代表的紙幣(S)的持有人有權就本證書所代表的紙幣(S)收取款項。在註冊官或其代表認證之前，本證書不得為任何目的而生效。[11/81536398_4 70發行人已代表其簽署本證書，以資證明。 日期自發行日期起。 ]發行人]作者： 認證證書本證書由註冊官或代表註冊官認證。 滙豐銀行有限公司擔任註冊員： 授權簽署人僅用於認證目的。 11/81536398_4 71背面：票據條款和條件 [經修訂的信託契據附表4(附註的條款及條件)所載的條款及條件，以及加入構成該等條款及條件一部分的任何附加條文，並列於有關的]最終條款/定價補充資料[S]須在此列明。[11/81536398_4110 6.5按發行人的選擇贖回及行使發行人的選擇權6.5.1如(I)有關最終條款訂明剩餘持有認購期權，及(Ii)如於任何時間贖回或購買及註銷原先發行的票據面值總額的剩餘持有百分比(載於相關最終條款)或以上，則發行人有權按其剩餘持有贖回金額(於相關最終條款中訂明)全部贖回該等未償還票據，但不能贖回部分。除非相關最終條款另有規定，否則剩餘持有贖回金額將由獨立財務顧問計算，方法是將債券的未償還面值及截至到期日的剩餘利息支付(如適用)按相當於基準收益率(相關最終條款中規定的百分比)的年利率(以百分率表示，最接近千分之一個百分點(一半向上舍入))計算，基準收益率為基準證券在指定贖回日期前第三個營業日收盤時的收益率，加上基準利差(有關最終條款中規定)。如果規定的計算期限不到一年，則應使用基準日計數分數(如相關最終術語中規定的)進行計算。發行人將根據本條件6.5.1向票據持有人和受託人發出不少於15天但不超過30天的不可撤銷通知。6.5.2如果相關最終條款中規定了看漲期權，除非已根據條件6.6或6發出行使通知，否則發行人可以。任何該等票據的贖回將以其可選擇的贖回金額連同截至(但不包括可選擇的贖回日期)的應計利息一併贖回。任何該等贖回或行使的票據，其面值必須最少相等於有關最終條款所規定的最低面值(如有)，且不得高於有關最終條款所規定的最高面值(如有)。發出通知所涉及的所有票據，須按照本條件於通知所指明的日期贖回或行使發行人的選擇權。如屬部分贖回或部分行使發行人選擇權，則發給票據持有人的通知亦須載有不記名票據的序號，或如屬記名票據，則須指明已提取的記名票據的面值及將予贖回的登記票據的持有人(S)，該等記名票據須在受託人批准的地點以其認為適當的方式提取，並須符合任何適用法律、上市當局及證券交易所的規定。6.5.3如有關最終條款訂明完整贖回選項，除非已根據第6.6或6.7條發出行使通知，否則發行人可於任何完整贖回日期(S)向票據持有人發出不少於15天但不超過30天的不可撤銷通知(或相關最終條款可能指定的其他通知期限)，贖回或行使與全部或部分該等票據有關的任何發行人選擇權。任何該等票據贖回的金額須相等於以下較高者，於11/81536398_4111每宗個案連同應累算的利息(但不包括完整的贖回日期)：(I)票據的面值；及(Ii)(A)票據的面值乘以價格(由發行人委任的財務顧問(“財務顧問”)以書面向發行人及受託人報告並經受託人批准的價格)，以百分率(四捨五入至最接近的第五位小數位，0)表示。任何該等贖回或行使的票據，其面值必須最少相等於有關最終條款所規定的最低面值(如有)，且不得高於有關最終條款所規定的最高面值(如有)。發出通知所涉及的所有票據，須按照本條件於通知所指明的日期贖回或行使發行人的選擇權。在部分贖回或部分行使發行人選擇權的情況下，發給票據持有人的通知還應包含待贖回票據的序列號，該序列號應在受託人批准的地點以其認為適當的方式繪製(或待贖回票據將由加拿大支付代理人(在相關最終條款中指定)以加拿大支付代理人認為適當並經受託人批准的方式選擇)，並符合任何適用法律、結算系統、上市當局和證券交易所的要求。在這種情況下：“加拿大收益率價格”指在債券贖回日期(“收益率決定日期”)之前的一個營業日計算的價格，該價格等於將贖回的債券的所有預定未償還本金和利息的預定付款的淨現值(不包括贖回日期應計利息的任何部分)，自相關最終條款指定的贖回日期至票面贖回開始日期為止(併為此目的，假設，債券將於票面值生效日期到期)，折現率為加拿大政府收益率加相關最終條款所列任何適用的贖回保證金。）的收益率 ]/[11/81536398_4 112到期日，由發行人選擇的兩家主要加拿大投資交易商截至中午提供（多倫多時間）在收益率確定日，作為不可贖回加拿大政府債券如果在加拿大以加元發行，將具有的收益率，按該日期本金額的100%支付，到期期限最接近於看漲期權開始日期的剩餘期限。 “總贖回收益率”是指根據財務顧問向受託人建議的當時普遍接受的市場實踐計算的收益率。 6.6.重組事件後票據持有人選擇贖回 6.6.1.6對該重組事件不再具有任何進一步的效力。(2)如在任何債券仍未清償期間的任何時間發生重組事件，且(受條件6.6.1(I)的規限)：(A)在重組期間內：(A)如在該重組事件發生時有評級證券，則該重組事件的評級下調(定義見下文)；或(B)如當時並無評級證券，則該重組事件的負面評級事件(定義見下文)亦發生；及(B)獨立財務顧問須已以書面向受託人證明其認為該重組事件對票據持有人的利益有重大損害(“否定證明”)，則除非在任何時間發行人已根據第6.5條發出通知或持有人已根據第6.7條(如適用)發出通知，否則每張票據的持有人在發出認沽事項通知(定義如下)時，可選擇(“認沽期權”)要求發行人贖回或由發行人選擇，於賣出日期(定義見下文)購買(或促使購買)該票據，按其可選擇的贖回金額(在相關最終條款中指明)連同(或如購買，連同相等於賣出日期(但不包括)應計利息(如有)的款額)。 任何負面證明均應為決定性的，並對受託人、發行人和票據持有人具有約束力。經受託人批准，發行人可隨時為本條件6.6的目的任命獨立財務顧問。如在評級下調或負面評級事件(視屬何情況而定)發生後五個營業日內，就重組事件而言，發行人不得為條件6.6.1(Ii)(B)的目的委任獨立財務顧問，而(如受託人要求)受託人就該顧問的費用獲得彌償及/或預先提供資金及/或擔保至令其滿意，則受託人可在與發行人磋商後，為此目的委任獨立財務顧問。6.6.2。在發行人知悉認沽事件(定義見下文)已發生後，在任何情況下不得遲於認沽事件發生後14天，發行人應按照條件15向票據持有人發出通知(“認沽事件通知”)，條件15列明認沽事件的性質及行使重組認沽期權的程序，如持有當時未償還票據面值至少四分之一的持有人提出要求，發行人應隨時向受託人發出通知。6.6.3。要行使重組認沽期權，票據持有人必須遵守條件6.7的規定。就條件6.7而言，適用於重組認沽期權的通知期應為發出認沽事項通知後45天的期間(“認沽期間”)。在有關票據持有人符合條件6.7的規限下，除非先前贖回或購買有關票據，否則發行人須於認沽期間屆滿日期(“認沽日期”)後第15天贖回或按發行人的選擇購買(或促使購買)有關票據。6.6.4。就這些條件而言：(1)“配電許可證”是指根據“電力法”第6(1)(C)條頒發的配電許可證。(2)“配電服務區”，就發行人而言，是指在2001年10月1日根據1989年《電力法》(經2000年公用事業法第30條修訂)第6(L)(C)條發給發電商的配電許可證中所指明的區域，截至該配電許可證的日期。(3)在以下情況下，“負面評級事件”須當作已經發生：(1)發行人在有關重組事件的日期之前或之後14天內，沒有向評級機構尋求並隨即盡一切合理努力取得該發行人的債券的評級或該發行人的任何其他無抵押及無附屬債務的評級，而該債券或其他無抵押及無附屬債務的初始到期日為5年或以上，或(2)如發行人尋求並使用該等努力，則由於該重組事件而不能取得最少投資級(BBB-/Baa3)的評級，或暫時各自的等價物)。(4)“看跌期權事件”發生於(1)重組事件、(2)評級下調或負面評級事件(視屬何情況而定)及(3)相關負面認證的最後發生日期。(5)“評級機構”指S全球評級歐洲有限公司或其任何附屬公司及其繼承人，或穆迪投資者服務有限公司或其任何附屬公司及其繼承人，或發行人經受託人事先書面批准不時取代其中任何一項的任何評級機構(或任何準許的替代機構)。]/[11/81536398_4 114（6）如果任何評級機構賦予評級證券當時的當前評級，則應視為重組事件已發生“評級下調”（無論是評級機構應發行人邀請提供還是自願提供）被撤回或降低投資級評級（BBB-/Baa 3）（或其目前各自的同等評級，或更好）至非投資級評級（BB+/Bal）（或其目前各自的同等評級）或更差，或如果評級機構已將評級證券評級低於投資級（如上所述），則評級被降低一個完整評級類別或更多。 (7)“評級證券”是指票據，如果在任何時候且只要票據具有評級機構的評級，以及發行人的任何其他初始到期日為五年或以上且經評級機構評級的無擔保和非次級債務。3；或(B)對發電商根據有關法例獲授權及賦權在配電服務區內分配電力的條款及條件作出的任何修改(正式、輕微或技術性質的修改除外)，除非該發電商的兩名董事已真誠地向受託人證明經修改的條款及條件對該發電商的業務並無重大不利影響；或(C)制定任何法例(不論是主要的或附屬的)，以刪除、限定或修訂(正式的、次要的或技術性的修訂除外)商業、能源及工業策略國務大臣(或任何繼承人)及/或氣體及電力市場管理局(或任何繼承人)根據《1989年電力法令》(經《公用事業法令》2000年修訂)(該法令可不時修訂)第3A條下的職責，除非該發行人的兩名董事真誠地向受託人證明，限制或修改不會對發行人的財務狀況產生實質性的不利影響。如果評級機構根據本條件6.6的規定進行相關評級下調，或在適用情況下拒絕分配至少投資級的評級，但沒有應發行人的要求(應下一段所述)宣佈或公開確認或書面通知發行人降低評級或在適用的情況下拒絕分配至少投資級的評級是全部或部分結果，則評級下調、負面評級事件或非投資級評級應被視為不是作為重組事件的結果發生的。包括在適用的重組事件中或由於適用的重組事件而引起的任何事件或情況。發行人承諾在該項下調或(如適用)拒絕給予至少投資級評級後立即聯絡有關評級機構，以確認該項下調或拒絕給予至少投資級評級是否全部或部分是由於適用重組事件所包含或出現的任何事件或情況所致。發行人在收到相關評級機構的任何此類確認後，應立即通知受託人。6.7.票據持有人可選擇贖回假若有關最終條款訂明認沽期權，發行人須在該票據持有人向發行人發出不少於15天但不超過30天的通知後(或相關最終條款所指定的其他通知期間)贖回該票據，於可選擇的贖回日期(S)(於有關最終條款中指定)按其可選擇的贖回金額(於相關最終條款中指定)贖回該票據，連同指定贖回日期應計的利息。 未經發行人事先同意，不得撤回如此存放的票據或證書以及行使的期權（代理協議規定的除外）。 6.8.取消根據上述任何條款兑換的所有票據將連同附帶的所有未到期優惠券和未兑換的Talons一起立即被取消。發行人或其任何子公司購買的所有票據可根據發行人的選擇由發行人持有，或可與所有未到期的息票及其附帶的所有未交換的Talon一起交回付款代理以取消，但不得轉售，且當由發行人或其任何各自的子公司持有時，持有人無權在任何票據持有人會議上投票並且就計算票據持有人會議法定人數或就條件12而言，不應被視為未決。 ]/[11/81536398_4 116 7付款及支付令7.1付款：不記名票據的本金及利息的付款，如以下所述，將於有關票據(如屬本金的所有付款，如屬利息，則按第7.6.4條所述)或息票(如屬利息，但第7.6.4條所指明的除外)(視屬何情況而定)出示並交回有關票據後，在美國以外任何付款代理人的指定辦事處，憑一張以該付款到期的貨幣付款的支票支付，或，根據持有人的選擇，轉入以該貨幣計價的賬户，在該貨幣的主要金融中心的銀行開立；但在歐元的情況下，轉賬應在銀行可以使用T2的城市。7.2記名票據：(A)記名票據的本金須在任何轉讓代理人或司法常務官的指定辦事處出示及交回有關證書後，按下文(B)段所規定的方式支付。(B)已登記票據的利息須於繳款到期日(記錄日期)的前一天收市時，支付予登記冊所列人士。每張記名紙幣的利息須以有關貨幣支付，支付方式為銀行開出支票，並按登記冊所載該紙幣的地址郵寄予該紙幣的持有人(或聯名持有人的首名)。持票人在記錄日期前向書記官長或任何轉讓代理人的指定辦事處提出申請後，可通過向收款人在銀行開立的有關貨幣賬户轉賬的方式支付利息。7.3儘管有上述規定，如果任何票據是以美國面值的 7.4付款須遵守財政法律等。除第8條規定外，付款在任何情況下均須遵守付款地任何適用的財政或其他法律、法規和指令，發行人不承擔此類法律、法規、指令或協議徵收的任何性質的任何税款或關税。不得就該等付款向票據持有人或息票持有人收取佣金或費用。7.5代理人的委任發行人最初委任的發證及付款代理人、付款代理人及計算代理人及其各自的指定辦事處如下。發行和支付代理、支付代理、註冊處處長、轉讓代理和計算代理僅作為發行人的代理，不為或與任何持有人承擔11/81536398_4117代理或信託的任何義務或關係。發行人保留在獲受託人批准下隨時更改或終止發行及付款代理人、任何其他付款代理人、註冊官、任何轉讓代理人或計算代理人的委任的權利，以及委任額外或其他付款代理人或轉讓代理人的權利，但發行人須時刻維持(A)發行及付款代理人，(B)登記紙幣的註冊官。(C)與已登記票據有關的轉讓代理人；。(D)在歐洲某主要城市設有指明辦事處的付款代理人(可以是發行及付款代理人)；。(E)如條件如此規定，計算代理人；。(F)只要票據在任何證券交易所上市或獲任何其他有關當局接納上市，付款代理人在任何其他有關證券交易所、上市當局或其他有關當局的規則及規例所規定的地點設有指明辦事處，。以及(G)只要票據在歐洲結算和盧森堡Clearstream以外或之外的結算系統中進行清算，則為能夠按照該結算系統的規則和程序向該結算系統付款的支付代理人。 此外，在第7.3條所述情況下，發行人應立即在紐約市就任何以美元計價的票據任命付款代理人。 任何此類變更或任何指定職位的任何變更的通知應根據第15條立即發送給票據持有人。 7.6未到期優惠券和未兑換的爪7.6.1在任何票據贖回到期日後，與該票據相關的未到期優惠券（無論是否附有）將無效，並且不得就其付款。 7.6.2在任何票據贖回到期日後，與該票據相關的任何未交換的Talon（無論是否附有）將無效，並且不得就該Talon交付任何優惠券。 7.6.3如任何票據規定有關息票於贖回該等票據的到期日失效，而該票據並無所有未到期的息票而出示以供贖回，而任何票據並無任何未兑換的爪子與之相關，則只可根據發行人所要求的彌償而作出贖回。7.6.4如任何票據的贖回到期日並非付息到期日，則自上一付息到期日或利息開始日期(視屬何情況而定)起計的利息，只須於代表該票據的有關票據或證書出示(及在適當情況下交回)時支付。只有在到期日之後才產生利息的票據的應計利息，應在出示該票據時贖回該票據時支付。7.7非營業日如任何票據或息票的任何付款日期並非營業日，則持有人無權獲得付款至下一個營業日，亦無權獲得有關延遲付款的任何利息或其他款項。在本款中，“營業日”是指銀行和外匯市場開業的日子(星期六或星期日除外)。]11/81536398_4118在相關提交地開業，在相關最後條款中指定為“金融中心”的管轄區內，以及：7.7.1(如果是以歐元以外的貨幣付款)，付款方式是轉賬到以相關貨幣在銀行開設的賬户，在該賬户上可以用相關貨幣在該貨幣所在國家的主要金融中心進行外匯交易(就澳元而言，該貨幣是悉尼)；或7.7.2(如果是歐元付款)，這是T2營業日。7.8在構成就任何票據發行的息票單一部分的最後息票的利息支付日期或之後，構成該息票單一部分的爪子可向發行及支付代理人的指定辦事處交出，以換取另一張息票單(但不包括根據條件9可能已失效的任何息票)。發票人或其代表就票據及息票支付的所有本金及利息，將不會因聯合王國或聯合王國的任何政治分區或聯合王國任何有權徵税的當局或聯合王國任何有權徵税的當局所徵收或徵收的任何現時或將來的税項或税項而扣繳或扣除，除非法律強制如此扣繳或扣除，則屬例外。儘管條款和條件或信託契約有任何其他規定，由發票人或其代表就票據支付的任何金額，將在扣除根據經修訂的1986年《美國國税法》(下稱《守則》)第1471(B)節所述的協議或依據守則第1471至1474節(或其下的任何法規或其官方解釋)或美國與促進其實施的另一司法管轄區之間的政府間協議(或任何財政或監管立法)所施加或要求的任何扣除或扣繳後支付。實施這種政府間協定的規則或做法)(任何此類扣繳或扣減，“FATCA扣繳”)。出票人或任何其他人士均不會被要求就FATCA扣繳支付任何額外金額。11/81536398_4119在本條件下，就任何票據或息票而言，“有關日期”是指就該票據或息票首次到期付款的日期，或(如任何應付款項被不當扣留或拒絕)全數付款的日期，或(如較早)根據條件15正式向票據持有人發出通知的日期，即在根據條件再次出示票據(或相關證書)或息票時，將作出付款，但該項付款事實上是在出示時作出的。 9.針對發行人就票據和息票（就此目的，不包括Talons）付款而提出的規定索賠應被規定並無效，除非在相關日期起10年（就本金而言）或5年（就利息而言）內提出付款。 (d)清盤：通過決議或英國法院做出最終命令，並且在可能的情況下，在90天內不解除或中止發行人清盤或解散;或（e）執行程序：扣押是對發行人的全部或幾乎全部資產或承諾進行的，並且該扣押在90天內不會解除或取消或財產繼承人接管或行政或其他接管人或類似機構 [02366923]/[02366985]/[02366894]/[03600574]11/81536398_4120對發行人的全部或基本上全部資產或業務任命高級職員，或對發行人作出遺產管理或類似命令，而這種接管、任命或命令在90天內沒有解除、解除或取消；或(F)破產：發行人停止經營其全部或基本上所有業務，或無力償還《1986年破產法》第123(1)(E)條或第123(2)條所指的債務；或(G)破產：發行人被其註冊所在國家的有管轄權的法院判定破產或無力償債，但在(B)段的情況下，受託人應證明其認為該事件對票據持有人的利益有重大損害。11執行受託人可酌情決定在無須另行通知的情況下，對發行人提起其認為合適的行動、步驟或法律程序，以執行根據票據或信託契約對發行人具有約束力的任何義務、條件或規定，但除非：(A)已由特別決議或持有至少四分之一未償還票據本金的持有人以書面指示如此行事，否則受託人無須這樣做；及(B)已獲彌償及/或擔保及/或預先提供令受託人滿意的款項。任何票據持有人或代用券持有人均無權直接對發行人提起該等訴訟、步驟或法律程序，除非受託人在60天內未能或不能按上述規定行事，且該等失職或無行為能力仍在持續。12.票據持有人會議、修改和替換12.在任何該等會議上妥為通過的特別決議，對所有票據持有人(不論他們是否出席通過該決議的會議)及票息持有人均具約束力，但任何特別決議建議，除其他事項外，(A)修訂債券的到期日或贖回日期，或修訂債券的利息支付日期，(B)減少或取消債券的面值或贖回債券時須支付的溢價，(C)降低債券的一個或多個利率，或更改計算一個或多個利率或利息款額的方法或基準，或更改計算債券的任何利息款額的基準；。(D)如票據面值顯示最低及/或最高利率，則降低任何該等最低及/或最高利率；。(E)更改計算最終贖回金額、提早贖回金額或可選擇的贖回金額的任何方法，。(F)採取本附註所指明的任何步驟，而本附註所指明的任何步驟，只有在特別法定人數條文適用的特別決議案批准後方可採取，及(G)修改有關任何票據持有人會議所規定的法定人數或通過特別決議案所需的過半數的規定，只有在出席票據持有人會議(或該會議的任何續會)有特別法定人數(定義見信託契約)的情況下方具約束力。持股比例不低於95%的股東簽署的書面決議。該批債券的面值為11/81536398_4121，對所有債券持有人及票息持有人均具約束力。12.2修改信託契約受託人可在未經債券持有人或債券持有人同意的情況下，同意(A)對信託契約、票據、息票或此等條件的任何條文作出任何正式、輕微或技術性的修改，或作出任何旨在糾正明顯錯誤的修改，及(B)對信託契約、票據、息票或此等條件的任何條文作出任何其他修改(信託契約所述者除外)，以及放棄或授權違反或建議違反信託契約、票據、息票或此等條件的任何條文，而受託人認為該等修改對票據持有人的利益並無重大損害。此外，受託人有義務同意發行人在未經債券持有人和債券持有人同意或批准的情況下，在條件4.10中作出合理努力，以實施任何基準修訂。任何該等修改、授權或豁免對所有票據持有人及聯票持有人均具約束力，如受託人要求，有關修改應在切實可行範圍內儘快通知票據持有人。12.3替代信託契約載有條文，容許受託人在信託契約的有關修訂及受託人可能要求的其他條件下，同意在未經債券持有人或聯票持有人同意的情況下，以任何其他公司取代發行人或任何先前被取代的公司，作為信託契約及票據下的主要債務人。在這種替代的情況下，受託人可在未經票據持有人或息票持有人同意的情況下同意更改管理票據、息票、魔爪及/或信託契約的法律，但受託人認為該等更改不會對票據持有人的利益造成重大損害。4受託人在行使其職能(包括但不限於本條件所述的職能)方面的權利受託人應將票據持有人的利益作為一個類別來考慮，不得考慮這種行使對個別票據持有人或聯票持有人的後果，受託人無權要求，也無權要求任何票據持有人或聯票持有人就其行使職能對個別票據持有人或聯票持有人的任何税務後果作出任何賠償或付款。13更換票據、證書、優惠券和利爪如果票據、證書、優惠券或利爪遺失、被盜、毀損、污損或銷燬，可在適用法律、上市當局和證券交易所規定的情況下，在該其他付款代理人的指定辦事處更換(就無記名票據而言，代用券)及發行人不時為此目的而指定的登記官或轉讓代理人(如屬證書)，並在申索人支付與更換有關的費用及費用後，按照條件15向票據持有人發出有關其指定的通知，並按有關證據、保證及彌償的條款(如[•][11/81536398-4122除其他外，可規定，如果據稱遺失、被盜或銷燬的紙幣、證書、優惠券或塔龍隨後被出示付款，或(視情況而定)換取更多的證書、優惠券，則應應要求向髮卡人支付髮卡人就該等票據、優惠券或更多優惠券應支付的金額)，以及髮卡人可能要求的其他情況。損壞或污損的紙幣、優惠券或魔爪必須在更換前交出。14發行人可不時未經票據持有人或息票持有人同意而增發票據，發行條款及條件與票據相同，因此該等進一步發行的票據須合併，並與該等票據組成單一系列。除文意另有所指外，此等條件中對票據的提述包括(除文意另有所指外)根據本條件發行並與票據組成單一系列的任何其他票據。與信託契據或任何補充契據組成的附註組成單一系列的任何該等額外附註，以及任何其他附註，均可(經受託人同意)由信託契據組成。信託契約載有條文，規定如受託人決定，可召開債券持有人及其他系列債券持有人的單一會議。15發給已登記票據持有人的通知應郵寄至他們在登記冊上各自的地址，並視為已於郵寄日期後的第四個工作日(星期六或星期日除外)發出。向不記名票據持有者發出的通知，如果在英國發行的每日英文報紙(預計是英國《金融時報》)上發表，則有效。如受託人認為任何該等刊物並不切實可行，則如在另一份在歐洲發行的主要英文日報上刊登通知，通知即屬有效。如上所述，任何此類通知應被視為在發表之日發出，如果發表不止一次或在不同日期發出，則應被視為在首次發表之日發出。就所有目的而言，票據持有人應被視為已知悉根據本條件向票據持有人發出的任何通知的內容。16受託人的彌償信託契據載有對受託人的彌償及免除其責任的條文，包括但不限於免除其以下責任的條文：(A)委任獨立財務顧問及(B)提起法律程序以強制償還款項，除非獲得令其滿意的彌償。受託人有權與發行人或其任何附屬企業、母企業、合營企業或相聯企業進行業務交易，而無須就該等交易所產生的任何利潤作出交代，並有權擔任發行人或其任何附屬企業、母企業、合營企業或相聯企業發行的任何其他證券的持有人的受託人。17《1999年合同法(第三方權利)法》任何人都無權執行《1999年合同法(第三方權利)法》規定的附註的任何條款或條件。11/81536398_4123 18適用法律和管轄權18.1附註、優惠券和由此產生或與之相關的任何非合同義務受英國法律管轄，並應按照英國法律解釋。18.2英格蘭法院對解決因票據引起或與票據有關的任何爭議(“爭議”)擁有專屬司法管轄權。18.3發行人同意英格蘭法院是解決任何爭議的最適當和最方便的法院，因此，它不會提出相反的論點。18.4此條件18並不妨礙受託人或任何票據持有人在任何其他具司法管轄權的法院提起與爭議有關的法律程序(“法律程序”)。在法律允許的範圍內，受託人或票據持有人可以在任何數量的司法管轄區同時提起訴訟。]11/81536398_4124附表5正面優惠券格式：[•]發行人[•]歐元中期票據計劃系列編號：[發行名稱]優惠券[列出到期的款額(如知道的話)]/金額

到期日期[利息支付日期落在]面額票據的票面利率[**本息票須於票據背面所列的發行及付款代理人的指定辦事處(或正式委任或提名並通知票據持有人的任何其他發行及付款代理人或其他付款代理人或其他付款代理人)的指定辦事處(或正式委任或提名並知會債券持有人的任何其他發行及付款代理人或其他付款代理人或指定辦事處)，支付予不記名人士(受與本券有關的票據所批註的條件規限，該條件對票據持有人具有約束力，不論該票據是否當其時附於該票據上)。[如與本息票有關的票據在本息票到期日前到期及應付，則本息票即告失效，並不會就此作出任何付款。]*任何持有這一義務的美國人將受到美國所得税法的限制，包括美國國税法第165(J)和1287(A)條規定的限制。]

發行人[•]發信人：[CP。不是的。]. [面額[ISIN]]系列[證書。不是的。][11/81536398_4 125背面：發行和付款代理 ][•]付款代理[S]*只有在利息支付日期根據營業日公約進行調整的情況下才有必要，否則應指明特定的利息支付日期。[S][•]**只適用於發行超過一種面額的浮動利率或指數掛鈎利息債券的息票。

*如代用券在提早贖回債券時不會失效，則刪去。

11/81536398_4 126計劃表6爪子形式在正面：

發行人

歐元中期票據計劃系列編號：[發行名稱]Talon要求進一步的息票將於

利息支付日期落在

與名義金額的紙幣有關的爪子

**在與本塔龍有關的票據的所有息票到期後，在出示及交出本塔龍時，須於本塔龍背面所列的發行及付款代理人的指定辦事處(或任何其他正式委任或提名並通知票據持有人的其他發行及付款代理人或指定職位)發出更多息票(如適用，包括另一張票券)。如果與本爪子有關的票據在兑換本爪子的原定到期日之前到期並支付，則本爪子將失效，不得就其進行兑換。任何負有這一義務的美國人將受到美國所得税法的限制，包括國內税法第165(J)條和第1287(A)條規定的限制。

發行人

發信人：

塔龍號。[ISIN] + [系列]證書。不是的。

11/81536398_4127背面：發行和付款代理[*如知悉有關息票的到期日，應列明有關息票的到期日，否則應參考付息日期到期的月份和年份。] + [**只有在該系列包含超過一種面額的紙幣時才需要。]11/81536398_4 128附表7有關票據持有人會議的條文釋義1.在本附表中：(A)凡提及會議，即指由有關發行人發行的一個或多個系列票據的票據持有人會議，併除文意另有所指外，包括任何延會；。(B)凡提及“票據”及“票據持有人”之處，只分別指已召開或將召開會議的該一個或多個票據系列的票據，以及該等票據的持有人；。(C)“代理人”指投票證書持有人或票據持有人的代表或代表；(D)“全體投票指示”指根據第8至14段發出的指示；(E)“電子平臺”指任何形式的電話或電子平臺，包括但不限於電話和視像會議及應用技術系統；(F)“特別決議”指根據本信託契約正式召開及舉行的會議上以至少75%的多數通過的決議。(G)“混合會議”是指有關發行人或受託人根據本附表召開的實體會議和虛擬會議的綜合會議，出席者可在會議通知中指定的實際地點或通過電子平臺出席；(H)“會議”指有關發行人或受託人根據本時間表召開的會議，不論是作為實體會議、虛擬會議還是混合會議舉行；(I)“委託書”具有下文第9(F)段所賦予的含義；(J)“所需比例”指下文第19段表格所示的債券比例；(K)“虛擬會議”指任何透過電子平臺舉行的會議；(L)“投票證書”指按照第5、6、7及14段發出的證書；及(M)凡提及佔債券一定比例的人士，指持有或代表當時未償還債券面值至少該比例的債券持有人或代理人。會議的權力2.在符合條件和不損害本信託契約授予他人的任何權力的情況下，會議有權通過非常決議：11/81536398_4 129(A)批准與條件12(票據持有人會議、變更和替代)所列保留事項有關的提案；(B)批准有關發行人或受託人就票據持有人和/或債券持有人針對相關發行人的權利提出的任何修改、廢除、更改或妥協或安排的任何提案，不論該等權利是否根據本信託契據產生；(C)同意有關發行人或受託人建議對本信託契據、票據、支票券或息票所作的任何修改；。(D)授權任何人(包括受託人)同意及作出任何必需的事情，以執行和實施非常決議；。(E)給予非常決議所規定的任何授權、指示或制裁；。(F)委任任何人士(不論是否票據持有人)為代表票據持有人利益的一個或多個委員會，並授予他們票據持有人本身可藉非常決議行使的任何權力或酌情決定權；。(G)批准建議的新受託人及罷免受託人；。(H)(本信託契據第15.2條所準許的除外)批准以任何實體取代有關發行人(或以前的任何替代者)作為本信託契據下的主要債務人；。及(I)免除或免除受託人根據本信託契據、附註、附註或息票可能須負責的任何作為或不作為的任何責任，惟第19段的特別法定人數規定適用於就第2(B)或2(H)分段而言的任何特別決議案(“特別法定人數決議案”)、條件12.1(票據持有人會議)所列的任何建議或對本但書的任何修訂。召開會議3.有關發行人或者受託人可以隨時召集會議。如果它收到持有至少10%的票據持有人的書面請求。按當其時未償還的任何系列債券的面值計算，並已獲得彌償及/或抵押及/或預籌資金至令其滿意的所有費用及開支，受託人須召開該系列債券持有人會議。每次會議均須在受託人批准的日期、時間及地點舉行。4.不記名票據的票據持有人、付款代理人及註冊官須就已登記票據(連同副本予有關發行人)，給予票據持有人及付款代理人最少21天的通知(不包括髮出通知當日及會議日期)。召集會議的一方應將通知的副本發給其他各方。通知應指明會議的日期、時間和地點，除非受託人另有同意，否則應説明擬提出的決議的性質，並應解釋票據持有人如何任命代表或代表、獲得投票證書和使用集體表決指示以及適用時間限制的細節。投票的安排[11/81536398_4130 5.不記名票據持有人如欲取得會議的表決證書，必須在定出的會議時間前至少48小時，或按付款代理人的命令，將該證書存放於付款代理人為此目的而指定的銀行或其他託管機構。然後，付款代理人應就其簽發一份表決證書。6.表決證書須：(A)為英文文件；(B)註明日期；(C)指明有關的會議及存放的筆記的編號；及(D)有權並述明其持有人有權出席該會議並就該等筆記表決。7.付款代理人在就票據發出會議表決證書後，不得發放該票據，直至：(A)會議已結束；或(B)投票證書已交回付款代理人。8.如不記名承付票持有人希望在某次會議的集體表決指示內載有可歸因於該承付票的票數，則須在所定的會議時間至少48小時前，(I)為此目的而將該承付票存放於付款代理人或付款代理人為此目的而指定的銀行或其他託管機構；及(Ii)他或獲其正式授權的人必須指示付款代理人如何投票。付款代理人須就如此存放的所有票據的票數發出集體表決指示。9.集體表決指示應：(A)為英文文件；(B)註明日期；(C)指定有關會議的日期；(D)列出交存的筆記的總數和序號，並就每項決議區分投票贊成和反對的人；(E)證明該清單符合第8、11和14段所規定的交存的筆記和收到的指示；及(F)指定一位具名人士(“代表”)在該次會議上就該筆記並按照該清單投票。委託書持有人不必是票據持有人。10.付款代理人一經就可歸因於任何票據的票數發出會議集體表決指示：(A)除第11段所規定者外，不得在會議結束前公佈該等票據；及11/81536398_4131(B)該指示生效的指示，不得在定出的會議時間前48小時內撤銷或更改。11.按照第8段存放於付款代理人處的票據的收據，如在定出的會議時間至少48小時前交回付款代理人，付款代理人鬚髮放該票據，並將可歸因於該票據的票數排除在集體表決指示之外。12.每份集體表決指示須在定出的會議時間前最少24小時，存放於受託人指定或批准的地點；如沒有作出集體表決指示，則除非會議主席在會議開始處理事務前另作決定，否則該指示無效。如果受託人要求，受託人應在會議上出示經公證證明的每份集體表決指示的副本，但受託人不必調查或關心受託人的任命的有效性。13.按照集體表決指示作出的表決，即使該指示或據以籤立該指示的票據持有人的任何指示先前已被撤銷或修訂，仍屬有效，除非有關的發票人或受託人在其註冊辦事處或會議主席於所定的會議時間至少24小時前，接獲有關付款代理人關於該項撤銷或修訂的書面通知。14.為第5段及第8段的目的，不得為同一會議同時向付款代理人交存鈔票或按付款代理人的指示交存鈔票。15.(A)掛號紙幣持有人可在指定的會議時間前最少48小時，以書面形式委任任何人(代表)代其行事，而該文書須以英文在轉讓代理人的指定辦事處備存，並由持有人或其代表籤立，並在定出的會議時間前交付轉讓代理人。委託書持有人不必是票據持有人。(B)持有掛號紙幣的法團，可在指定的會議時間至少24小時前，向轉讓代理人交付其董事或其他管治機構的決議案的核證副本(如非英文，則連同經核證的英文譯本)，授權任何人在該會議上以其代表(“代表”)身分行事。主席16.會議的主席須由受託人以書面提名的人擔任，但如沒有作出該項提名，或如獲提名的人在定出的會議時間後15分鐘內沒有出席，則出席的票據持有人或代理人須在他們當中選出一人擔任主席，否則有關發行人可委任一名主席。董事長不必是票據持有人或代理人。延會會議的主席不必與原會議的主席是同一人。出席會議17.下列人士可出席會議並在會議上發言：(A)會議持有人及代理人；(B)主席；] + [11/81536398_4132(C)有關發行人及受託人(透過其各自的代表)及其各自的財務及法律顧問；。(D)交易商及其顧問；。(E)獲會議或受託人批准的任何其他人；及。(F)就登記票據而言，註冊處處長，或就不記名票據而言，為發行及付款代理人。其他人不得出席或發言。18.除非在會議開始時有足夠法定人數出席，否則不得在會議上處理任何事務(選出主席除外)。如果在最初確定的會議時間後15分鐘內沒有法定人數出席，如果應票據持有人的要求召開會議，或者相關發行人和受託人同意，會議應被解散。如屬其他情況，則須押後至主席決定的日期、不少於14日或多於42天的日期及時間及地點。如在如此延期的會議定出的時間起計15分鐘內仍未達到法定人數，該會議即告解散。19.第1欄第2欄第3欄召開任何會議的目的除第3欄所指的會議外，以前因缺乏法定人數而休會的會議所需的法定人數三分之二三分之一才能通過超過50%的任何其他特別決議。沒有最低比例，任何其他目的，10%。不設最低比例20.主席可在會議同意下不時及在另一地點將會議延期。按照本段或第18.21段休會的會議只能處理原會議原可在11/81536398_4133處理的事務。因會議因不足法定人數而延期的會議，須以與原會議相同的方式發出至少十天的通知，而該通知須載明延會所需的法定人數。但是，休會無需另行通知。投票22票。提交會議的每個問題均須以舉手方式決定，除非主席、有關發行人、受託人或一名或多名持有一張或多張票數為2%的票據或投票證的人士(在舉手錶決結果宣佈前)要求以投票方式表決。筆記中的。23.除非主席要求以投票方式表決，否則如主席宣佈某項決議已獲通過或未獲通過，即為該事實的確證，而無須證明贊成或反對的票數或比例。24.如要求以投票方式表決，須按主席指示的方式及(除下文另有規定外)立即或在休會後進行。投票結果應被視為被要求投票的會議在投票之日的決議。以投票方式表決的要求不得阻止會議繼續處理除被要求以投票方式表決的問題以外的事務。25.就選舉主席或就休會問題要求以投票方式表決時，須立即進行。26.凡親身出席並出示無記名票據、其為登記持有人的證明書或有表決權證明書或其代表或代表的人士，均有一票。在以投票方式表決時，每名該等人士對如此出示或代表的該系列票據的指定貨幣的每個整數貨幣單位均有一票投票權，而該等人士是該系列票據的代表或代表。在不損害代理人的義務的情況下，有權投一票以上的人不必全部使用或以相同的方式投票。27.在票數均等的情況下，主席在舉手錶決和投票表決時，除有權投其他票外，還有權投決定票。28.非常決議的生效和公佈。特別決議案對所有票據持有人(不論是否出席會議)及所有債券持有人均具約束力，而他們均須相應地予以實施。 相關發行人應在14天內向票據持有人發出關於通過特別決議的通知，就不記名票據而言，就支付代理人發出關於通過特別決議的通知，就記名票據而言，就登記票據而言，就通過特別決議的通知，但未能這樣做的情況並不使該決議無效。 29分鐘。每次會議的所有決議和程序均應編制會議記錄，如果據稱由該會議或下一次後續會議的主席簽署，則應作為其中事項的確鑿證據。 除非並直至相反證明成立，否則每次已如此製作和簽署會議記錄的會議均應視為已正式召開和舉行，而會議上通過的所有決議或處理的程序均應視為已正式通過和處理。 ]11/81536398_4134書面決議30.由持有未償還債券面值不少於百分之九十五的持有人簽署的書面決議，須猶如非常決議般生效。此種書面決議可以包含在一份文件或幾份相同格式的文件中，每份文件都由一個或多個票據持有人或其代表簽署。受託人訂明第31條的權力。在本信託契約所有其他條文的規限下，受託人可在未經票據持有人同意的情況下，全權酌情釐定有關舉行會議及出席會議及表決的其他規則，包括(但不限於)受託人認為合理的規定，以信納聲稱根據本信託契約提出要求的人士有權如此行事，以及投票證或集體表決指示的格式，以信納聲稱出席會議或在會議上投票的人士有權如此行事。32.本附表的前述條文在下列條文的規限下有效：(A)不同系列債券持有人的會議通常會分開舉行。然而，受託人可不時決定將不同系列的票據持有人的會議一起舉行。(B)受託人認為隻影響一個系列的決議，如在有關係列的債券持有人的另一次會議上通過，應被視為已妥為通過。16(貨幣兑換)。(D)受託人認為影響多於一個系列的債券持有人，並在有關係列的債券持有人之間產生或可能引起利益衝突的決議案，只有在有關係列的債券持有人的不同會議上正式通過的情況下，才被視為已妥為通過。(E)本附表所有上述條文在加以必要的變通後，均適用於上述所有會議，猶如其中對附註及附註持有人的提述，即對有關係列的附註及附註持有人的提述一樣。適用於虛擬會議和/或混合會議的附加規定33.有關發行人(經受託人事先批准)或受託人可全權酌情決定舉行虛擬會議或混合會議，並在此情況下，須提供票據持有人或其代理人或代表出席會議、參與會議及/或在會上發言的詳細資料，包括將使用的電子平臺。34.相關發行人或主席(在每種情況下，均經受託人事先批准)或受託人可全權酌情作出任何安排及施加任何要求或限制，以確保識別有權參加虛擬會議或11/81536398_4135混合會議的人士，以及確保電子平臺的適合性。所有需要通過電子平臺(無論以何種身份)在虛擬會議的與會者或混合會議的與會者之間傳遞的文件均應通過電子郵件(或受託人批准的其他電子通信媒介)傳遞。35歲。提交虛擬會議或混合會議的所有決議均應按照上文第24-27段(包括這兩段)以投票方式表決。36.尋求通過電子平臺出席、參加、發言或參加虛擬會議或混合會議的人應負責確保他們能夠使用必要的設施(包括但不限於信息技術系統、設備和連通性)。37.在確定人們是否通過電子平臺出席、參加或加入虛擬會議或混合會議時，出席該會議的任何兩個或兩個以上成員是否彼此處於相同的物理位置或他們能夠如何相互交流並不重要。38.兩個或兩個以上實際位置不同的人蔘加虛擬會議或混合會議，如果他們的情況是，如果他們有(或將有)在該會議上發言或投票的權利，他們就能夠(或將能夠)行使這些權利。39.會議主席保留採取主席根據其絕對酌情決定權決定的步驟以避免或儘量減少會議中斷的權利，這些步驟可包括(但不限於)在虛擬會議或混合會議的情況下，在主席決定的一段時間內靜音與造成這種幹擾的人的會議的電子連接。40.有關發行人(經受託人事先批准)或受託人可全權酌情作出其認為適當的任何安排，以使出席虛擬會議或混合會議的人士可在會上行使其發言或表決的權利。41. 42.在以下情況下，一個人可以在虛擬會議或混合會議上行使投票權：（a）該人可以在會議期間對會議上提交投票的決議進行投票;和（b）在確定此類決議是否與出席會議的所有其他人士的投票同時通過時，可以考慮該人的投票有權在該會議上投票。 43.受託人對用於任何虛擬會議或混合會議的電子平臺的安全、任何虛擬會議或混合會議的可訪問性或連接性或缺乏可訪問性或連接性，不對相關發行人或任何其他人負責或承擔任何責任。 本契約於開頭規定的日期交付。

簽字人國家電網配電(東米德蘭茲郡)PLC作為國家電網配電(東米德蘭茲郡)PLC簽署的契約)代理)...........................................................)董事)...........................................................)公司祕書籤名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F國家電網配電(南威爾士)有限公司作為國家電網配電(南威爾士)PLC籤立的地契)代理(...........................................................))董事)...........................................................)公司祕書文件簽名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F

國家電網配電(西南)公司作為國家電網配電(西南)公司簽署的契約)代理)...........................................................)董事)...........................................................)公司祕書籤名信封ID：FAE72B9E-03CF-4021-812A-4A8C6CEFEE3F國家電網配電(西米德蘭茲)有限公司作為國家電網配電(西米德蘭茲)有限公司籤立的地契))代理(...........................................................))董事)...........................................................)公司祕書文件簽名信封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