<SEC-DOCUMENT>0000950103-18-006246.txt : 20180517
<SEC-HEADER>0000950103-18-006246.hdr.sgml : 20180517
<ACCEPTANCE-DATETIME>20180517161949
ACCESSION NUMBER:		0000950103-18-006246
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20180503
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180517
DATE AS OF CHANGE:		20180517

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			S&P Global Inc.
		CENTRAL INDEX KEY:			0000064040
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES [7320]
		IRS NUMBER:				131026995
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01023
		FILM NUMBER:		18843228

	BUSINESS ADDRESS:	
		STREET 1:		55 WATER STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10041
		BUSINESS PHONE:		212-438-1000

	MAIL ADDRESS:	
		STREET 1:		55 WATER STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10041

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCGRAW HILL FINANCIAL INC
		DATE OF NAME CHANGE:	20130502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCGRAW-HILL COMPANIES INC
		DATE OF NAME CHANGE:	19950502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCGRAW HILL INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>dp91030_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 3pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin: 0"></P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES AND EXCHANGE
COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.75pt 0pt 91.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.75pt 0pt 91.2pt; text-align: center"></P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.75pt 0pt 91.2pt; text-align: center">&nbsp;</P>



<P STYLE="margin: 0pt 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.5pt 0pt 91.2pt; text-align: center">&nbsp;</P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->




<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 90.5pt 0pt 91.2pt; text-align: center"></P>



<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 173.25pt 0pt 173.85pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of report (Date of earliest
event reported): May 17, 2018 (May 3, 2018)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.75pt; text-align: center">&nbsp;</P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.75pt; text-align: center"></P>



<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>S&amp;P GLOBAL INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact Name of Registrant
as Specified in Its Charter)</P>



<P STYLE="margin: 0pt 0">&nbsp;</P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->




<P STYLE="margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.75pt 0pt 90.45pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>New York</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(State or Other Jurisdiction
of Incorporation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.3pt 0pt 91.2pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-weight: bold; text-align: center; font-size: 10pt">1-1023</TD>
    <TD STYLE="width: 50%; font-weight: bold; text-align: center; font-size: 10pt">13-1026995</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer Identification No.)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center; font-size: 10pt">55 Water Street</TD>
    <TD STYLE="font-weight: bold; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>New York, New York</B></FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>10041</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Address of Principal Executive Offices)</B></FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Zip Code)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 90.4pt 0pt 91.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(212) 438-1000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Registrant&rsquo;s telephone
number, including area code:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.7pt 0pt 91.2pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>n/a</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Former Name or Former
Address, if Changed Since Last Report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.3pt 0pt 91.2pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.3pt 0pt 91.2pt; text-align: center"></P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.3pt 0pt 91.2pt; text-align: center">&nbsp;</P>



<P STYLE="margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.1pt 0pt 6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD>Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.95pt 0pt 8.9pt; text-indent: 21.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD>Emerging growth company</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 8.9pt; text-indent: 21.8pt">&nbsp;</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>


<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 3pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 50.2pt">Item 8.01</TD><TD STYLE="text-align: left">Other Events</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">On
May 17, 2018, S&amp;P Global Inc. (the &ldquo;Company&rdquo;) issued $500 million aggregate principal amount of its 4.500% senior
notes due 2028 (the &ldquo;Notes&rdquo;). The Notes are governed by an indenture dated as of May 26, 2015 (the &ldquo;Base Indenture&rdquo;),
among the Company, Standard &amp; Poor&rsquo;s Financial Services LLC (the &ldquo;Guarantor&rdquo;) and U.S. Bank National Association,
as trustee (the &ldquo;Trustee&rdquo;), as supplemented by the fourth supplemental indenture dated as of May 17, 2018, among the
Company, the Guarantor and the Trustee (the &ldquo;Fourth Supplemental Indenture,&rdquo; and together with the Base Indenture,
the &ldquo;Indenture&rdquo;). The Notes are fully and unconditionally guaranteed by the Guarantor on a senior unsecured basis
(the &ldquo;Guarantee&rdquo; and, together with the Notes, the &ldquo;Securities&rdquo;). The Company intends to use the net proceeds
of this offering to fund all or a portion of the redemption price of the $400 million outstanding principal amount of its 2.500%
Notes due 2018, and the balance for general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.5pt 0pt 6pt; text-indent: 19.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">The
terms of the Securities are governed by the Indenture, which contains covenants that, among other things, limit the
Company&rsquo;s ability to (i) create, assume, incur or guarantee any indebtedness for money borrowed secured by a lien on
any of its properties or assets, without securing the Securities equally and ratably with (or prior to) such secured
indebtedness and (ii) consolidate with or merge into any other person or convey or transfer its properties and assets
substantially as an entirety to any person. The Company has the right to redeem the Securities at any time on the terms
provided in the Indenture. Upon the occurrence of a Change of Control Triggering Event, as defined in the Indenture, unless
the Company has exercised its right to redeem all of the Securities, each holder will have the right to require the Company
to repurchase its Securities at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and
unpaid interest. The Indenture also contains customary events of default. Indebtedness under the Securities may be
accelerated in certain circumstances upon an event of default as set forth in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.15pt 0pt 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">The
offering of the Notes was registered pursuant to the Company&rsquo;s shelf registration statement (the &ldquo;Registration
Statement&rdquo;) on Form S-3 (File No. 333-224198), which became effective upon filing with the Securities and Exchange
Commission on April 9, 2018 and was amended on May 3, 2018. The sale of the Notes was pursuant to an Underwriting Agreement
(the &ldquo;Underwriting Agreement&rdquo;) dated May 3, 2018 between the Company, the Guarantor and Goldman Sachs &amp; Co.
LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated and
Mizuho Securities USA LLC as representatives of the several underwriters listed in Schedule I thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.15pt 0pt 6pt; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">The
above descriptions of the Indenture and the Notes are qualified in their entirety by reference to the text of the Base Indenture,
a copy of which is filed as Exhibit 4.1 to this Current Report on Form 8-K and the Fourth Supplemental Indenture (including the
form of the Notes included therein), a copy of which is filed as Exhibit 4.2 to this Current Report on Form 8-K, each of which
is incorporated by reference into the Registration Statement. A copy of the Underwriting Agreement is filed as Exhibit 1 to
this Current Report on Form 8-K and is incorporated by reference into the Registration Statement. A copy of the opinion of Davis
Polk &amp; Wardwell LLP relating to the validity of the Notes is filed as Exhibit 5 to this Current Report on Form 8-K and is
incorporated by reference into the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.15pt 0pt 6pt; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.15pt 0pt 6pt; text-indent: 30pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 50.2pt">Item 9.01</TD><TD STYLE="text-align: left">Financial Statements and Exhibits</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in">(1)</TD><TD>Underwriting Agreement dated May 3, 2018 between S&amp;P Global Inc., Standard &amp; Poor&rsquo;s Financial Services LLC and
Goldman Sachs &amp; Co. LLC, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Deutsche Bank Securities Inc. and Mizuho Securities
USA LLC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in">(4.1)</TD><TD>Indenture dated as of May 26, 2015, among S&amp;P Global Inc. (f/k/a as McGraw Hill Financial, Inc.), Standard &amp;
Poor&rsquo;s Financial Services LLC and U.S. Bank National Association, as trustee (incorporated herein by reference to Exhibit
4.1 to the Current Report on Form 8-K filed by the Company on May 26, 2015).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in">(4.2)</TD><TD>Fourth Supplemental Indenture dated as of May 17, 2018, among S&amp;P Global Inc., Standard &amp; Poor&rsquo;s Financial
Services LLC and U.S. Bank National Association, as trustee.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in">(4.3)</TD><TD>Form of 4.500% Senior Note due 2048 (included in Exhibit 4.2).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in">(5)</TD><TD>Opinion of Davis Polk &amp; Wardwell LLP.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.35in; text-align: left">(23)</TD><TD>Consent of Davis Polk &amp; Wardwell LLP (included in
Exhibit 5).</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 222.35pt 0pt 221.6pt; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 222.35pt 0pt 221.6pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: center; padding: 0pt"><FONT STYLE="font-size: 10pt"><B><U>Exhibit No</U>.</B></FONT></TD>
    <TD STYLE="width: 90%; padding: 0pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Exhibit Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt"><A HREF="dp91030_ex0101.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">(1)</FONT></A></TD>
    <TD STYLE="padding: 0pt"><A HREF="dp91030_ex0101.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Underwriting Agreement dated May 3, 2018 between S&amp;P Global Inc., Standard &amp; Poor&rsquo;s Financial Services LLC and Goldman Sachs &amp; Co. LLC, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, Deutsche Bank Securities Inc. and Mizuho Securities USA LLC.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/64040/000095010315004120/dp56118_ex0401.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">(4.1)</FONT></A></TD>
    <TD STYLE="padding: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/64040/000095010315004120/dp56118_ex0401.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Indenture dated as of May 26, 2015, among S&amp;P Global Inc. (f/k/a McGraw Hill Financial, Inc.), Standard &amp; Poor&rsquo;s Financial Services LLC and U.S. Bank National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to the Form 8-K filed by the Company on May 26, 2015).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt"><A HREF="dp91030_ex0402.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">(4.2</FONT>)</A></TD>
    <TD STYLE="padding: 0pt"><A HREF="dp91030_ex0402.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Fourth Supplemental Indenture dated as of May 17, 2018, among S&amp;P Global Inc., Standard &amp; Poor&rsquo;s Financial Services LLC and U.S. Bank National Association, as trustee.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt"><A HREF="dp91030_ex0402.htm" STYLE="color: Blue; text-decoration: underline">(<FONT STYLE="font-size: 10pt">4.3)</FONT></A></TD>
    <TD STYLE="padding: 0pt"><A HREF="dp91030_ex0402.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Form of 4.500% Senior Note due 2048 (included in Exhibit 4.2).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt"><A HREF="dp91030_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">(5)</FONT></A></TD>
    <TD STYLE="padding: 0pt"><A HREF="dp91030_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Opinion of Davis Polk &amp; Wardwell LLP.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt">&nbsp;</TD>
    <TD STYLE="padding: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0pt"><A HREF="dp91030_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">(23)</FONT></A></TD>
    <TD STYLE="padding: 0pt"><A HREF="dp91030_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Consent of Davis Polk &amp; Wardwell LLP (included in Exhibit 5).</FONT></A></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 222.35pt 0pt 221pt; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 222.35pt 0pt 221pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 28.35pt 0pt 6pt; text-indent: 19.55pt">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 28.35pt 0pt 6pt; text-indent: 19.55pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Date: <U>May 17, 2018</U></TD>
    <TD>By:&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><I>&nbsp;/s/ Alma Rosa Montanez</I></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name: </TD>
    <TD STYLE="width: 33%">Alma Rosa Montanez</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD COLSPAN="2">Associate General Counsel &amp; Assistant Corporate&nbsp;&nbsp;Secretary</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <!-- Field: /Page -->



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>dp91030_ex0101.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">S&amp;P Global Inc.</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">4.500% Senior Notes due 2048</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><U>________</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><U>Underwriting Agreement</U></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 4in; text-align: right">May 3, 2018</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 4in; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Goldman Sachs &amp; Co. LLC<BR>
200 West Street<BR>
New York, NY 10282-2198</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Merrill Lynch, Pierce, Fenner &amp; Smith<BR>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated<BR>
One Bryant Park<BR>
New York, NY 10036</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Deutsche Bank Securities Inc.<BR>
60 Wall Street<BR>
New York, NY 10005</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mizuho Securities USA LLC<BR>
320 Park Avenue, 12th Floor<BR>
New York, NY 10022</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in">As
representatives (the &ldquo;Representatives&rdquo;) of the several Underwriters&#9;named in Schedule I hereto<BR>
<BR></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">S&amp;P Global Inc.,
a New York corporation (the &ldquo;Company&rdquo;), proposes, subject to the terms and conditions stated in this agreement (this
&ldquo;Agreement&rdquo;), to issue and sell to the Underwriters named in Schedule I hereto (the &ldquo;Underwriters&rdquo;) an
aggregate of $500,000,000 principal amount of the 4.500% Senior Notes due 2048 (the &ldquo;Securities&rdquo;) of the Company. The
Securities will be issued pursuant to a Base Indenture dated as of May 26, 2015 (the &ldquo;Base Indenture&rdquo;) and a Fourth
Supplemental Indenture (the &ldquo;Fourth Supplemental Indenture&rdquo; and, the Base Indenture as supplemented by the Fourth Supplemental
Indenture, the &ldquo;Indenture&rdquo;) among the Company, Standard &amp; Poor&rsquo;s Financial Services LLC, a wholly-owned subsidiary
of the Company (the &ldquo;Guarantor&rdquo;) and U.S. Bank National Association, as trustee (the &ldquo;Trustee&rdquo;) and will
be guaranteed on an unsecured unsubordinated basis by the Guarantor (the &ldquo;Guarantee&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company represents and warrants to, and agrees with, each of the Underwriters that:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;An
&ldquo;automatic shelf registration statement&rdquo; as defined under Rule 405 under the Securities Act of 1933, as amended (the
&ldquo;Act&rdquo;) on Form S-3 (File No. 333-<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">224198</FONT>) in respect
of the Securities has been filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) not earlier than three
years prior to the date hereof; such registration statement, and any post-effective amendment thereto, became effective on filing;
and no stop order suspending the effectiveness of such registration statement or any part thereof has been issued and no proceeding
for that purpose has been initiated or threatened by the Commission, and no notice of objection of the Commission to the use of
such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act has been received
by the Company (the base prospectus filed as part of such registration statement, in the form in which it has most recently been
filed with the Commission on or prior to the date of this Agreement, is hereinafter called the &ldquo;Base Prospectus&rdquo;; any
preliminary prospectus (including any preliminary prospectus supplement) relating to the Securities filed with the Commission pursuant
to Rule 424(b) under the Act is hereinafter called a &ldquo;Preliminary Prospectus&rdquo;; the various parts of such registration
statement, including all exhibits thereto but excluding Form T-1 and including any prospectus supplement relating to the Securities
that is filed with the Commission and deemed by virtue of Rule 430B to be part of such registration statement, each as amended
at the time such part of the registration statement became effective, are hereinafter collectively called the &ldquo;Registration
Statement&rdquo;; the Base Prospectus, as amended and supplemented immediately prior to the Applicable Time (as defined in Section
1(c) hereof), is hereinafter called the &ldquo;Pricing Prospectus&rdquo;; the form of the final prospectus relating to the Securities
filed with the Commission pursuant to Rule 424(b) under the Act in accordance with Section 5(a) hereof is hereinafter called the
&ldquo;Prospectus&rdquo;; any reference herein to the Base Prospectus, the Pricing Prospectus, any Preliminary Prospectus or the
Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form
S-3 under the Act, as of the date of such prospectus; any reference to any amendment or supplement to the Base Prospectus, any
Preliminary Prospectus or the Prospectus shall be deemed to refer to and include any post-effective amendment to the Registration
Statement, any prospectus supplement relating to the Securities filed with the Commission pursuant to Rule 424(b) under the Act
and any documents filed under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and incorporated
therein, in each case after the date of the Base Prospectus, such Preliminary Prospectus, or the Prospectus, as the case may be;
any reference to any amendment to the Registration Statement shall be deemed to refer to and include any annual report of the Company
filed pursuant to Section 13(a) or 15(d) of the Exchange Act after the effective date of the Registration Statement that is incorporated
by reference in the Registration Statement; and any &ldquo;issuer free writing prospectus&rdquo; as defined in Rule 433 under the
Act relating to the Securities is hereinafter called an &ldquo;Issuer Free Writing Prospectus&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(A)
No order preventing or suspending the use of any Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by
the Commission, and (B) each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements
of the Act and the Trust Indenture Act of 1939, as amended (the &ldquo;Trust Indenture Act&rdquo;) and the rules and regulations
of the Commission thereunder, and did not contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in
reliance upon and in conformity with the Underwriter Information</FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">For
the purposes of this Agreement, the &ldquo;Applicable Time&rdquo; is 4:10 p.m. (Eastern time) on the date of this Agreement; the
Pricing Prospectus as supplemented by the final term sheet prepared and filed pursuant to Section 5(a) hereof, taken together (collectively,
the &ldquo;Pricing Disclosure Package&rdquo;) as of the Applicable Time, did not, and as of the Time of Delivery (as defined in
Section 4(a) of this Agreement) will not, include any untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; and each
Issuer Free Writing Prospectus does not conflict with the information contained in the Registration Statement, the Pricing Prospectus
or the Prospectus and each Issuer Free Writing Prospectus, as supplemented by and taken together with the Pricing Disclosure Package
as of the Applicable Time, did not, and as of the Time of Delivery will not, include any untrue statement of a material fact or
omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements or omissions
made in an Issuer Free Writing Prospectus in reliance upon and in conformity with the Underwriter Information.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
documents incorporated by reference in each of the Pricing Prospectus and the Prospectus, when filed with the Commission, conformed
or will conform, as the case may be, in all material respects to the requirements of the Exchange Act, and the rules and regulations
of the Commission thereunder, and did not and will not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Registration Statement conforms, and the Prospectus and any further amendments or supplements to the Registration Statement and
the Prospectus will conform, in all material respects to the requirements of the Act and the Trust Indenture Act and the rules
and regulations of the Commission thereunder and do not and will not, as of the applicable effective date as to each part of the
Registration Statement, as of the applicable filing date as to the Prospectus and any amendment or supplement thereto, and as of
the Time of Delivery, contain an untrue statement of a material fact or omit to state a material </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">fact required
to be stated therein or necessary to make the statements therein not misleading; provided, however, that this representation and
warranty shall not apply to any statements or omissions made in reliance upon and in conformity with the Underwriter Information.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
consolidated financial statements of the Company and its consolidated subsidiaries and the related notes thereto included in each
of the Registration Statement, the Pricing Prospectus and the Prospectus present fairly the financial position of the Company and
its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows
for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles
applied on a consistent basis throughout the periods covered thereby; and the other financial information of the Company and its
consolidated subsidiaries included in each of the Registration Statement, the Pricing Prospectus and the Prospectus has been derived
from the accounting records of the Company and its consolidated subsidiaries and presents fairly the information shown thereby.
The interactive data in eXtensible Business Reporting Language included in each of the Registration Statement, the Pricing Prospectus
and the Prospectus fairly presents the information called for in all material respects and is prepared in accordance with the Commission's
rules and guidelines applicable thereto.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Since
the date of the most recent financial statements of the Company incorporated by reference in each of the Pricing Prospectus and
the Prospectus (i) there has not been any change in the capital stock or long-term debt of the Company or any of its consolidated
subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class
of capital stock, or any material adverse change in or affecting the business, properties, assets, results of operations or financial
condition of the Company and its subsidiaries taken as a whole, other than ongoing purchases of common stock under the Company&rsquo;s
common stock repurchase program; (ii) neither the Company nor any of its subsidiaries has entered into any transaction or agreement
that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent,
that is material to the Company and its subsidiaries taken as a whole; and (iii) neither the Company nor any of its consolidated
subsidiaries has sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether
or not covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator
or governmental or regulatory authority, except in each case (i) through (iii) as otherwise disclosed in each of the Pricing Prospectus
and the Prospectus.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company, the Guarantor and (except as would not have a Material Adverse Effect, as defined below) each of its subsidiaries have
been duly organized and are validly existing and in good standing under the laws of their respective jurisdictions of organization,
are duly qualified to do business and are in good standing in each jurisdiction in which their respective ownership or lease of
property or the conduct of their respective businesses requires such qualification, and have all power and authority necessary
to own or hold their </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">respective properties
and to conduct the businesses in which they are engaged, except where the failure to be so qualified, in good standing or have
such power or authority would not, individually or in the aggregate, have a material adverse effect on the business, properties,
assets, results of operations or financial condition of the Company and its subsidiaries taken as a whole or on the performance
by the Company and the Guarantor of their obligations under this Agreement, the Securities and the Guarantee (a &ldquo;Material
Adverse Effect&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;The
Company has the capitalization as set forth in each of the Pricing Prospectus and the Prospectus under the heading &quot;Capitalization&quot;;
and, except as would not be expected to have a Material Adverse Effect, all the outstanding shares of capital stock or other equity
interests of each subsidiary of the Company have been duly and validly authorized and issued, are fully paid and non-assessable
and (except for those subsidiaries that are not wholly owned by the Company) are owned directly or indirectly by the Company, free
and clear of any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third
party.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company and the Guarantor have full right, power and authority to execute and deliver this Agreement, the Securities and the Indenture
(including the Guarantee set forth therein), (collectively, the &ldquo;Transaction Documents&rdquo;) and to perform their respective
obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery
of each of the Transaction Documents and the consummation of the transactions contemplated thereby has been duly and validly taken.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Indenture has been duly authorized by the Company and the Guarantor and on the Time of Delivery will be duly executed and delivered
by the Company and the Guarantor and, when duly executed and delivered in accordance with its terms by each of the parties thereto,
will constitute a valid and legally binding agreement of the Company and the Guarantor enforceable against the Company and the
Guarantor in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar
laws affecting the enforcement of creditors' rights generally or by equitable principles relating to enforceability (collectively,
the &quot;Enforceability Exceptions&quot;); and on the Time of Delivery, the Indenture will conform in all material respects to
the requirements of the Trust Indenture Act of 1939, as amended (the &quot;Trust Indenture Act&quot;), and the rules and regulations
of the Commission applicable to an indenture that is qualified thereunder.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Securities have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered as provided in
the Indenture and paid for as provided herein, will be duly and validly issued and outstanding and will constitute valid and legally
binding obligations of the Company enforceable against the Company in accordance with their terms, subject to the Enforceability
Exceptions, and will be entitled to the benefits of the Indenture; and the Guarantee has been duly authorized by the Guarantor
and, when the Securities have been duly executed, authenticated, issued and </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">delivered as
provided in the Indenture and paid for as provided herein, will be a valid and legally binding obligation of the Guarantor, enforceable
against the Guarantor in accordance with its terms, subject to the Enforceability Exceptions, and will be entitled to the benefits
of the Indenture.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
Agreement has been duly authorized, executed and delivered by the Company and the Guarantor.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Neither
the Company nor any of its subsidiaries is (i) in violation of its charter or by-laws or similar organizational documents; (ii)
in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance
or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement
or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is
bound or to which any property, right or asset of the Company or any of its subsidiaries is subject; or (iii) in violation of any
law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except,
in the case of clause (i) above with respect to any subsidiary of the Company (other than the Guarantor), and clauses (ii) and
(iii) above, for any such default or violation that would not, individually or in the aggregate, have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party,
the issuance and sale of the Securities and the issuance of the Guarantee and compliance by the Company and the Guarantor with
the terms thereof and the consummation of the transactions contemplated by the Transaction Documents will not (i) conflict with
or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination,
modification or acceleration of, or result in the creation or imposition of any lien, charge or encumbrance upon any property,
right or asset of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its
subsidiaries is bound or to which any property, right or asset of the Company or any of its subsidiaries is subject, (ii) result
in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or the Guarantor
or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or
governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation,
default, lien, charge or encumbrance that would not, individually or in the aggregate, have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">No
consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory
authority is required for the execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents
to which each is a party, the issuance and sale of the Securities and the issuance of the Guarantee, </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">and compliance
by the Company and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the Transaction
Documents, except such as have been obtained under the Securities Act and the Trust Indenture Act and for such consents, approvals,
authorizations, orders, registrations or qualifications as may be required under applicable state securities or Blue Sky laws in
connection with the purchase and distribution of the Securities by the Underwriters.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(q)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Each
Transaction Document conforms in all material respects to the description thereof contained in each of the Pricing Prospectus and
the Prospectus.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(r)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Except
as described in each of the Pricing Prospectus and the Prospectus, there are no legal, governmental or regulatory investigations,
actions, demands, claims, suits, arbitrations, inquiries or proceedings (&ldquo;Actions&rdquo;) pending to which the Company or
any of its subsidiaries is or may be a party or to which any property, right or asset of the Company or any of its subsidiaries
is or may be the subject that, individually or in the aggregate, that could reasonably be expected to have a Material Adverse Effect;
and no such Actions are threatened or, to the knowledge of the Company and the Guarantor, contemplated by any governmental or regulatory
authority or by others.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(s)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(A)
(i) At the time of filing the Registration Statement, (ii) at the time of the most recent amendment thereto for the purposes of
complying with Section 10(a)(3) of the Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant
to Section 13 or 15(d) of the Exchange Act or form of prospectus), and (iii) at the time the Company or any person acting on its
behalf (within the meaning, for this clause only, of Rule 163(c) under the Act) made any offer relating to the Securities in reliance
on the exemption of Rule 163 under the Act, the Company was a &ldquo;well-known seasoned issuer&rdquo; as defined in Rule 405 under
the Act; and (B) at the time of filing the Registration Statement and any post-effective amendment thereto, at the earliest time
thereafter that the Company or any offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the
Act) of the Securities, and at the date hereof, the Company was not and is not an &ldquo;ineligible issuer&rdquo; as defined in
Rule 405 under the Act.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(t)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Ernst
&amp; Young LLP, who have certified certain consolidated financial statements of the Company and its consolidated subsidiaries
are independent public accountants with respect to the Company and its consolidated subsidiaries within the applicable rules and
regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the
Securities Act.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(u)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company and the Guarantor hold all material licenses, certificates and permits from governmental authorities which are necessary
to the conduct of their respective businesses; the Company and the Guarantor own or possess the right to use all patents, patent
rights, trademarks, trade names, service marks, service names, copyrights, license rights, know-how (including </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">trade secrets
and other unpatented and unpatentable proprietary or confidential information, systems or procedures) and other intellectual property
rights (&ldquo;Intellectual Property&rdquo;) necessary to carry on their respective businesses in all material respects; the Company
and the Guarantor have not infringed, and have not received written notice of violation of, any Intellectual Property of any other
person or entity which infringement or violation would have a Material Adverse Effect. None of the technology employed by the Company
or the Guarantor has been obtained or is being used by the Company or the Guarantor in violation of any contractual obligation
binding on the Company or the Guarantor or any of their officers, directors or employees or otherwise in violation of the rights
of any persons which violation would have a Material Adverse Effect; the Company and the Guarantor have not received any written
communications alleging that the Company or the Guarantor have violated or infringed, or, by conducting their respective businesses
as set forth in the Pricing Prospectus and the Prospectus, would violate or infringe, any of the Intellectual Property of any other
person or entity which alleged violation or infringement would have a Material Adverse Effect. The Company and the Guarantor know
of no infringement by others of Intellectual Property owned by or licensed to the Company which infringement would have a Material
Adverse Effect.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Neither
the Company nor the Guarantor is, and after giving effect to the offering and sale of the Securities and the application of the
proceeds thereof as described in each of the Pricing Prospectus and the Prospectus, none of them will be, required to register
as an &ldquo;investment company&rdquo; or an entity &ldquo;controlled&rdquo; by an &ldquo;investment company&rdquo; within the
meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively,
the &ldquo;Investment Company Act&rdquo;).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(w)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company and its subsidiaries&nbsp;&nbsp;maintain an effective system of &ldquo;disclosure controls and procedures&rdquo; (as defined
in Rule 13a-15(e) of the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in reports
that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in the Commission&rsquo;s rules and forms, including controls and procedures designed to ensure that such information is accumulated
and communicated to the Company&rsquo;s management as appropriate to allow timely decisions regarding required disclosure. The
Company and its subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required
by Rule 13a-15 of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company and its subsidiaries maintain systems of &ldquo;internal control over financial reporting&rdquo; (as defined in Rule 13a-15(f)
of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the supervision
of, their respective principal executive and principal financial officers, or persons performing similar functions, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles. The Company and its subsidiaries maintain internal accounting
controls sufficient to provide reasonable assurance </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">that (i) transactions
are executed in accordance with management&rsquo;s general or specific authorizations; (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset
accountability; (iii) access to assets is permitted only in accordance with management&rsquo;s general or specific authorization;
(iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences; and (v) interactive data in eXtensible Business Reporting Language incorporated by reference
in each of the Preliminary Prospectus, the Pricing Prospectus and the Prospectus is prepared in accordance with the Commission's
rules and guidelines applicable thereto. There are no material weaknesses in the Company&rsquo;s internal controls.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(y)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Neither
the Company nor any of its subsidiaries nor, to the knowledge of the Company and the Guarantor, any director, officer, or employee
of the Company or any of its subsidiaries, any agent, affiliate or other person associated with or acting on behalf of the Company
or any of its subsidiaries has (i) used any funds for any unlawful contribution, gift, entertainment or other unlawful expense
relating to political activity; (ii) made or taken an act in furtherance of an offer, promise or authorization of any direct or
indirect unlawful payment or benefit to any foreign or domestic government or regulatory official or employee, including of any
government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for
or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (iii) violated
or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation
implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed
an offence under the Bribery Act 2010 of the United Kingdom, or any other applicable anti-bribery or anti-corruption laws; or (iv)
made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without
limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit, in each case (i)
through (iv), except as is not material to the Company. The Company and its subsidiaries have instituted, and maintain and enforce,
policies and procedures reasonably designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption
laws.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(z)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
operations of the Company and its subsidiaries are and have been conducted at all times in material compliance with applicable
financial recordkeeping and reporting requirements, including those of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, the applicable money laundering statutes of all jurisdictions where the Company or any of its subsidiaries conducts
business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered
or enforced by any governmental or regulatory agency (collectively, the &ldquo;Anti-Money Laundering Laws&rdquo;) and no action,
suit or proceeding by or before any court or governmental or regulatory agency, authority or body or any arbitrator involving the
Company or any of its subsidiaries with respect to the Anti-Money Laundering </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Laws is pending
or, to the knowledge of the Company or the Guarantor, threatened.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(aa)&#9;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Neither
the Company nor any of its subsidiaries nor, to the knowledge of the Company and the Guarantor, any director, officer, or employee
of the Company or any of its subsidiaries, any agent, affiliate or other person associated with or acting on behalf of the Company
or any of its subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S. Government,
(including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury (&ldquo;OFAC&rdquo;)
or the U.S. Department of State and including, without limitation, the designation as a &ldquo;specially designated national&rdquo;
or &ldquo;blocked person&rdquo;), the United Nations Security Council (&ldquo;UNSC&rdquo;), the European Union, Her Majesty&rsquo;s
Treasury (&ldquo;HMT&rdquo;), or other relevant sanctions authority (collectively, &ldquo;Sanctions&rdquo;), nor is the Company,
any of its subsidiaries or the Guarantor located, organized or resident in a country or territory that is the subject or the target
of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria (each, a &ldquo;Sanctioned Country&rdquo;);
and the Company will not directly or indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate
any activities of or business with any person that, at the time of such funding or facilitation, is the subject or the target of
Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country, except, in the case of clauses (i)
and (ii), to the extent licensed by OFAC or otherwise authorized under U.S. law, or (iii) in any other manner that will result
in a violation by any person (including any person participating in the transaction, whether as underwriter, advisor, investor
or otherwise) of Sanctions. Neither the Company nor any of its subsidiaries, directors, officers or employees, nor, to the knowledge
of the Company or the Guarantor, any agent, affiliate, joint venture partner or other person associated with or acting on behalf
of the Company or any of its subsidiaries has engaged in activities sanctionable under the Iran Sanctions Act, the Comprehensive
Iran Sanctions, Accountability, and Divestment Act of 2010, the Iran Threat Reduction and Syria Human Rights Act of 2012, the National
Defense Authorization Act for the Fiscal Year 2012, the National Defense Authorization Act for the Fiscal Year 2013, Executive
Order Nos. 13628, 13622, and 13608, or any other U.S. economic sanctions relating to Iran (collectively, the &ldquo;Iran Sanctions&rdquo;);
and the Company has not engaged and will not engage in any activities or business that would subject it to sanction under the Iran
Sanctions. Except as disclosed in each of the Pricing Prospectus and the Prospectus, for the past 5 years, the Company and its
subsidiaries have not knowingly unlawfully engaged in and are not now knowingly unlawfully engaged in any dealings or transactions
with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned
Country.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(bb)&#9;The
Securities constitute &ldquo;senior indebtedness&rdquo; as such term is defined in any indenture or agreement governing any outstanding
subordinated indebtedness of the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Subject
to the terms and conditions herein set forth, the Company agrees to issue and sell to each of the Underwriters, and each of the
Underwriters agrees, severally and not jointly, to purchase from the Company, at a purchase price of 97.876% of the principal amount
thereof, plus accrued interest, if any, from May 17, 2018 to the Time of Delivery (as defined below) hereunder, the principal amount
of Securities set forth opposite the name of such Underwriter in Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Upon
the authorization by you of the release of the Securities, the several Underwriters propose to offer the Securities for sale upon
the terms and conditions set forth in the Pricing Prospectus and the Prospectus.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(a)&nbsp;&nbsp;The
Securities to be purchased by each Underwriter hereunder will be represented by one or more definitive global Securities in book-entry
form which will be deposited by or on behalf of the Company with The Depository Trust Company (&ldquo;DTC&rdquo;) or its designated
custodian.&nbsp;&nbsp;The Company will deliver the Securities to the Representatives, for the account of each Underwriter, against
payment by or on behalf of such Underwriter of the purchase price therefor by wire transfer of Federal (same-day) funds to the
account specified by the Company to the Representatives at least forty-eight hours in advance, by causing DTC to credit the Securities
to the account of Goldman Sachs &amp; Co. LLC at DTC.&nbsp;&nbsp;The Company will cause the certificates, if any, representing
the Securities to be made available to the Representatives for checking at least twenty-four hours prior to the Time of Delivery
at the office of DTC or its designated custodian (the &ldquo;Designated Office&rdquo;).&nbsp;&nbsp;The time and date of such delivery
and payment shall be 9:30 a.m., New York City time, on May 17, 2018 or such other time and date as the Representatives and the
Company may agree upon in writing.&nbsp;&nbsp;Such time and date are herein called the &ldquo;Time of Delivery.&rdquo;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
documents to be delivered at the Time of Delivery by or on behalf of the parties hereto pursuant to Section 8 hereof, including
the cross-receipt for the Securities and any additional documents requested by the Underwriters pursuant to Section 8(i) hereof,
will be delivered at the offices of Shearman &amp; Sterling LLP: 599 Lexington Avenue, New York, New York 10022 (the &ldquo;Closing
Location&rdquo;), and the Securities will be delivered at the Designated Office, all at the Time of Delivery.&nbsp;&nbsp;A meeting
will be held at the Closing Location at 10:00 a.m., New York City time, on the New York Business Day next preceding the Time of
Delivery, at which meeting the final drafts of the documents to be delivered pursuant to the preceding sentence will be available
for review by the parties hereto.&nbsp;&nbsp;For the purposes of this Section 4, &ldquo;New York Business Day&rdquo; shall mean
each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City are generally
authorized or obligated by law or executive order to close.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Each
of the Company and the Guarantor agrees, jointly and severally, with each of the Underwriters that:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company will prepare the Prospectus in a form agreed to by you and the Company and will file such Prospectus pursuant to Rule 424(b)
under the Act not later than the Commission's close of business on the second business day following the date of this Agreement;
will advise you promptly of any further amendment or any supplement to the Registration Statement, the Base Prospectus or the Prospectus
prior </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">to the Time of Delivery,
and will not distribute any such document as amended or supplemented to which the Representatives reasonably object; will advise
you, promptly after it receives notice thereof, of the time when any amendment to the Registration Statement has been filed or
becomes effective or supplement to the Prospectus or any amended Prospectus has been filed and will furnish you with copies thereof;
will prepare a final term sheet, containing solely a description of the Securities, in a form approved by you and will file such
term sheet pursuant to Rule&nbsp;433(d) under the Act within the time required by such Rule; will file promptly all other material
required to be filed by the Company with the Commission pursuant to Rule 433(d) under the Act; will file promptly all reports and
any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Section 13(a),
13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus
(or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is required in connection with the offering or sale of
the Securities; will advise you, promptly after it receives notice thereof, of the issuance by the Commission of any stop order
or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus in respect of the Securities,
of any notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant
to Rule 401(g)(2) under the Act, of the suspension of the qualification of the Securities for offering or sale in any jurisdiction,
of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or
supplementing of the Registration Statement or the Prospectus or for additional information; and, in the event of the issuance
of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus or suspending
any such qualification, will promptly use its best efforts to obtain the withdrawal of such order; and in the event of any such
issuance of a notice of objection, will promptly take such steps including, without limitation, amending the Registration Statement
or filing a new registration statement, at its own expense, as may be necessary to permit offers and sales of the Securities by
the Underwriters (references herein to the Registration Statement shall include any such amendment or new registration statement).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;If
required by Rule 430B(h) under the Act, the Company will prepare a form of prospectus in a form approved by you and to file such
form of prospectus pursuant to Rule 424(b) under the Act not later than may be required by Rule 424(b) under the Act; and <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">will
advise you promptly of any amendment or any supplement to such form of prospectus, and will not distribute any such prospectus
to which the Representatives reasonably object</FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If
by the third anniversary (the &ldquo;Renewal Deadline&rdquo;) of the initial effective date of the Registration Statement, any
of the Securities remain unsold by the Underwriters, the Company will file, if it has not already done so and is eligible to do
so, a new automatic shelf registration statement relating to the Securities, in a form satisfactory to you.&nbsp;&nbsp;If at the
Renewal Deadline the Company is no longer eligible to file an automatic shelf registration statement, the Company will, if it has
not already done so, file a new shelf registration statement relating to the Securities, in a form satisfactory to you and will
use its best efforts to cause such registration statement to be declared effective within 180&nbsp;days after the Renewal Deadline.&nbsp;&nbsp;The
Company will take all other action necessary or appropriate to permit the public offering and sale of the Securities to </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">continue as contemplated
in the expired registration statement relating to the Securities.&nbsp;&nbsp;References herein to the Registration Statement shall
include such new automatic shelf registration statement or such new shelf registration statement, as the case may be.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Promptly
from time to time to take such action as you may reasonably request, the Company will qualify the Securities for offering and sale
under the securities laws of such jurisdictions as you may reasonably request and comply with such laws so as to permit the continuance
of sales and dealings therein in such jurisdictions for as long as may be necessary to complete the distribution of the Securities;
provided that in connection therewith neither the Company nor the Guarantor shall not be required to qualify as a foreign corporation
or to file a general consent to service of process in any jurisdiction.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">As
soon as practicable, on the New York Business Day next succeeding the date of this Agreement and from time to time, the Company
will furnish the Underwriters with written and electronic copies of the Prospectus in New York City in such quantities as you may
reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act)
is required at any time prior to the expiration of nine months after the time of issue of the Prospectus in connection with the
offering or sale of the Securities and if at such time any event shall have occurred as a result of which the Prospectus as then
amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order
to make the statements therein, in the light of the circumstances under which they were made when such Prospectus (or in lieu thereof,
the notice referred to in Rule 173(a) under the Act) is delivered, not misleading, or, if for any other reason it shall be necessary
during such same period to amend or supplement the Prospectus or to file under the Exchange Act any document incorporated by reference
in the Prospectus in order to comply with the Act, the Exchange Act or the Trust Indenture Act, will notify you and upon your request
will file such document and will prepare and furnish without charge to each Underwriter and to any dealer in securities as many
written and electronic copies as you may from time to time reasonably request of an amended Prospectus or a supplement to the Prospectus
which will correct such statement or omission or effect such compliance; and in case any Underwriter is required to deliver a prospectus
(or in lieu thereof, the notice referred to in Rule 173(a) under the Act) in connection with sales of any of the Securities at
any time nine months or more after the time of issue of the Prospectus, upon your request but at the expense of such Underwriter,
will prepare and deliver to such Underwriter as many written and electronic copies as you may request of an amended or supplemented
Prospectus complying with Section 10(a)(3) of the Act.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company will make generally available to its securityholders as soon as practicable, but in any event not later than sixteen months
after the effective date of the Registration Statement (as defined in Rule 158(c) under the Act), an earnings statement of the
Company and its subsidiaries (which need not be audited) complying with Section 11(a) of the Act and the rules and regulations
of the Commission thereunder (including, at the option of the Company, Rule 158).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">During
the period beginning from the date hereof and continuing to and including the later of the Time of Delivery and such earlier time
as you may notify the </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Company, the Company and
the Guarantor will not to offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise
transfer or dispose of, directly or indirectly, or file with the Commission a registration statement under the Act relating to
any securities of the Company that are substantially similar to the Securities, or publicly disclose the intention to make any
offer, sale, pledge, disposition or filing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company will pay the required Commission filing fees relating to the Securities within the time required by Rule&nbsp;456(b)(1)
under the Act without regard to the proviso therein and otherwise in accordance with Rules&nbsp;456(b) and 457(r) under the Act.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company will use the net proceeds received by it from the sale of the Securities pursuant to this Agreement in the manner specified
in the Pricing Prospectus under the caption &ldquo;Use of Proceeds.&rdquo;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#9;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(i)&#9;The
Company represents and agrees that, other than the final term sheet prepared and filed pursuant to Section&nbsp;5(a) hereof, without
the prior consent of the Representatives, it has not made and will not make any offer relating to the Securities that would constitute
a &ldquo;free writing prospectus&rdquo; as defined in Rule 405 under the Act; </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;each
Underwriter represents and agrees that, without the prior consent of the Company and the Representatives, other than one or more
term sheets relating to the Securities containing customary information and conveyed to purchasers of Securities, it has not made
and will not make any offer relating to the Securities that would constitute a free writing prospectus required to be filed with
the Commission; and</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;any
such free writing prospectus the use of which has been consented to by the Company and the Representatives (including the final
term sheet prepared and filed pursuant to Section&nbsp;5(a) hereof) is listed on Schedule II(a) hereto;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company has complied and will comply with the requirements of Rule 433 under the Act applicable to any Issuer Free Writing Prospectus,
including timely filing with the Commission or retention where required and legending; and</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company agrees that if at any time following issuance of an Issuer Free Writing Prospectus any event occurred or occurs as a result
of which such Issuer Free Writing Prospectus would conflict with the information in the Registration Statement, the Pricing Prospectus
or the Prospectus or would include an untrue statement of a material fact or omit to state any material fact necessary in order
to make the statements therein, in the light of the circumstances then prevailing, not misleading, the Company will give prompt
notice thereof to the Representatives and, if requested by the Representatives, will prepare and furnish without charge to each
Underwriter an Issuer Free Writing Prospectus or other document which will correct such conflict, statement or omission; provided,
however, that this representation and warranty shall not apply to any statements or omissions in an Issuer Free Writing Prospectus
made in reliance upon and in conformity with the Underwriter Information.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;The
Company covenants and agrees with the several Underwriters that the Company will pay or cause to be paid the following: (i) the
fees, disbursements and expenses of the Company's counsel and accountants in connection with the registration of the Securities
under the Act and all other expenses in connection with the preparation, printing, reproduction and filing of the Registration
Statement, the Base Prospectus, any Preliminary Prospectus, any Issuer Free Writing Prospectus and the Prospectus and amendments
and supplements thereto and the mailing and delivering of copies thereof to the Underwriters and dealers; (ii) the cost of printing
or producing any Agreement among Underwriters, this Agreement, the Indenture, the Blue Sky Memorandum, closing documents (including
any compilations thereof) and any other documents in connection with the offering, purchase, sale and delivery of the Securities;
(iii) all expenses in connection with the qualification of the Securities for offering and sale under state securities laws as
provided in Section 5(d) hereof, including the fees and disbursements of counsel for the Underwriters in connection with such qualification
and in connection with the Blue Sky survey; (iv) any fees charged by securities rating services for rating the Securities; (v)
the <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">filing fees incident to, and the fees and disbursements of counsel
for the Underwriters in connection with, any required review by the Financial Industry Regulatory Authority (&ldquo;FINRA&rdquo;)
of the terms of the sale of the Securities; (vi) the </FONT>cost of preparing the Securities; (vii) the fees and expenses of the
Trustee and any agent of the Trustee and the fees and disbursements of counsel for the Trustee in connection with the Indenture
and the Securities; and (viii) all other costs and expenses incident to the performance of its obligations hereunder which are
not otherwise specifically provided for in this Section.&nbsp;&nbsp;It is understood, however, that, except as provided in this
Section, and Sections 9 and 13 hereof, the Underwriters will pay all of their own costs and expenses, including the fees of their
counsel, transfer taxes on resale of any of the Securities by them, and any advertising expenses connected with any offers they
may make.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
obligations of the Underwriters hereunder shall be subject, in their discretion, to the condition that all representations and
warranties and other statements of the Company herein are, at and as of the Applicable Time and the Time of Delivery, true and
correct, the condition that the Company shall have performed all of its obligations hereunder theretofore to be performed, and
the following additional conditions:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
representations and warranties of the Company and the Guarantor contained herein shall be true and correct on the date hereof and
on and as of the Time of Delivery; and the statements of the Company, the Guarantor and their respective officers made in any certificates
delivered pursuant to this Agreement shall be true and correct on and as of the Time of Delivery. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Prospectus shall have been filed with the Commission pursuant to Rule 424(b) under the Act within the applicable time period prescribed
for such filing by the rules and regulations under the Act and in accordance with Section 5(a) hereof; the final term sheet contemplated
by Section&nbsp;5(a) hereof, and any other material required to be filed by the Company pursuant to Rule 433(d) under the Act,
shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433; no stop order
suspending the effectiveness of the Registration Statement or any part thereof shall have been issued and no proceeding for that
purpose shall have </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">been initiated or threatened
by the Commission and no notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment
thereto pursuant to Rule 401(g)(2) under the Act shall have been received; no stop order suspending or preventing the use of the
Preliminary Prospectus, the Prospectus or any Issuer Free Writing Prospectus shall have been initiated or threatened by the Commission;
and all requests for additional information on the part of the Commission shall have been complied with to your reasonable satisfaction.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Shearman
&amp; Sterling LLP, counsel for the Underwriters, shall have furnished to you an opinion and 10b-5 statement, dated the Time of
Delivery, in form and substance satisfactory to you, with respect to the matters as the Representatives may reasonably request,
and such counsel shall have received such papers and information as they may reasonably request to enable them to pass upon such
matters.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;Davis
Polk &amp; Wardwell LLP, counsel for the Company, shall have furnished to you their written opinion and 10b-5 statement, dated
the Time of Delivery<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">, in form and substance reasonably satisfactory to
the Representatives, to the effect set forth in </FONT>Annex I <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">hereto</FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">On
the date of the Prospectus at a time prior to the execution of this Agreement, at 9:30 a.m., New York City time, on the effective
date of any post-effective amendment to the Registration Statement filed subsequent to the date of this Agreement and also at the
Time of Delivery, Ernst &amp; Young LLP shall have furnished to you a letter or letters, dated the respective dates of delivery
thereof, in form and substance satisfactory to you.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">No
event or condition of a type described in Section 1(g) hereof shall have occurred or shall exist, which event or condition is not
described in each of the Pricing Prospectus (excluding any amendment or supplement thereto) and the Prospectus (excluding any amendment
or supplement thereto) the effect of which in the judgment of the Representatives makes it impracticable or inadvisable to proceed
with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Pricing
Prospectus and the Prospectus.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;Subsequent
to the earlier of (A) the Applicable Time and (B) the execution and delivery of this Agreement, (i) no downgrading shall have occurred
in the rating accorded the Securities or any other debt securities or preferred stock issued or guaranteed by the Company or any
of its subsidiaries by Fitch Ratings Inc. (&ldquo;Fitch&rdquo;) or Moody&rsquo;s Investors Service, Inc. (&ldquo;Moody&rsquo;s&rdquo;)
and (ii) neither Fitch nor Moody&rsquo;s shall have publicly announced that it has under surveillance or review, or has changed
its outlook with respect to, its rating of the Securities or of any other debt securities or preferred stock issued or guaranteed
by the Company or any of its subsidiaries (other than an announcement with positive implications of a possible upgrading).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">At
the Time of Delivery, the Company shall have furnished or caused to be furnished to you satisfactory evidence of the good standing
of the Company and the Guarantor in their respective jurisdictions of organization and their good standing in such other jurisdictions
as the Representatives may reasonably request, in each case in </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">writing or any standard
form of telecommunication from the appropriate governmental authorities of such jurisdictions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">At
the Time of Delivery, the Indenture shall have been duly executed and delivered by a duly authorized officer of the Company, the
Guarantor and the Trustee, and the Securities shall have been duly executed and delivered by a duly authorized officer of the Company
and duly authenticated by the Trustee.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Representatives shall have received on and as of the Time of Delivery a certificate of an executive officer, treasurer or chief
legal officer of the Company and the Guarantor who has specific knowledge of the Company&rsquo;s or the Guarantor&rsquo;s financial
matters and is satisfactory to the Representatives (i) confirming that such officer has carefully reviewed the Pricing Prospectus
and the Prospectus and, to the best knowledge of such officer, the representations set forth in Sections 1(a), 1(b) and 1(c) hereof
are true and correct, (ii) confirming that the other representations and warranties of the Company and the Guarantor in this Agreement
are true and correct and that the Company and the Guarantor have complied with all agreements and satisfied all conditions on their
part to be performed or satisfied hereunder at or prior to the Time of Delivery and (iii) to the effect set forth in paragraphs
(f) and (g) above. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal,
state or foreign governmental or regulatory authority that would, as of the Time of Delivery, prevent the issuance or sale of the
Securities or the issuance of the Guarantee; and no injunction or order of any federal, state or foreign court shall have been
issued that would, as of the Time of Delivery, prevent the issuance or sale of the Securities or the issuance of the Guarantee.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&#9;Indemnification
and Contribution&#9;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indemnification</FONT>
<I>of the Underwriters. </I>The Company and the Guarantor jointly and <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">severally</FONT>
agree to indemnify and hold harmless each Underwriter, its agents, affiliates, directors and officers and each person, if any,
who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and
against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred
in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several,
that arise out of, or are based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, or any amendment thereto, or the omission or alleged omission therefrom of a material fact required to
be stated therein or necessary to make the statements therein not misleading, or (ii) any untrue statement or alleged untrue statement
of a material fact contained in the Preliminary Prospectus, the Pricing Prospectus, any Issuer Free Writing Prospectus or the Prospectus
(or any amendment or supplement thereto) or any omission or alleged omission to state therein a material fact necessary in order
to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except
insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with any information relating to any</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Underwriter furnished
to the Company in writing by such Underwriter through the Representatives expressly for use therein.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<I>Indemnification
of the Company and the Guarantor. </I>Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company,
the Guarantor, each of their respective directors and officers and each person, if any, who controls the Company or the Guarantor
within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set
forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based
upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any
information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly
for use in the Registration Statement, the Preliminary Prospectus, the Pricing Prospectus, any Issuer Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto), it being understood and agreed that the only such information provided
by any Underwriter consists of (i) the statements with respect to the Underwriters&rsquo; intention to make a market in the Securities
in the seventh full paragraph under the caption &ldquo;Underwriting&rdquo; and (ii) the statements with respect to stabilization
and over-allotment of the Securities by the Underwriters (with respect to themselves only), and penalty bids that may be imposed
by the Underwriters in the eighth and ninth full paragraphs under the caption &ldquo;Underwriting&rdquo; (such information, being
&ldquo;Underwriter Information&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;<I>Notice
and Procedures. </I>If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall
be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or
(b) above, such person (the &ldquo;Indemnified Person&rdquo;) shall promptly notify the person against whom such indemnification
may be sought (the &ldquo;Indemnifying Person&rdquo;) in writing; provided that the failure to notify the Indemnifying Person shall
not relieve it from any liability that it may have under paragraph (a) or (b) above except to the extent that it has been materially
prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure
to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than
under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall
have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified
Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified
Person and any others entitled to indemnification pursuant to this Section 9 that the Indemnifying Person may designate in such
proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to
such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but
the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and
the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable
time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded
that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying
Person; or (iv) the named parties in any</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">such proceeding (including
any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that
the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable
for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that
all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for any Underwriter, its affiliates,
directors and officers and any control persons of such Underwriter shall be designated in writing by the Representatives and any
such separate firm for the Company, the Guarantor, their respective directors and officers and any control persons of the Company
and the Guarantor shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement
of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason
of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested
that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph,
the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement
is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall
not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. No Indemnifying
Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding
in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by
such Indemnified Person, unless such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance
reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding
and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any
Indemnified Person.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;<I>Contribution.
</I>If the indemnification provided for in paragraph (a) or (b) above is unavailable to an Indemnified Person or insufficient in
respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph,
in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified
Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Guarantor on the one hand and the Underwriters on the other from the offering of the Securities
or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantor on the one
hand and the Underwriters on the other in connection with the statements or omissions that resulted in such losses, claims, damages
or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantor
on the one hand and the Underwriters on the other shall be deemed to be in the same respective proportions as the net proceeds
(before deducting expenses) received by the Company from the</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">sale of the Securities
and the total discounts and commissions received by the Underwriters in each case as set forth in the table on the cover page of
the Prospectus. The relative fault of the Company and the Guarantor on the one hand and the Underwriters on the other shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission
or alleged omission to state a material fact relates to information supplied by the Company or any Guarantor on the one hand or
by the Underwriters on the other and the parties&rsquo; relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;<I>Limitation
on Liability. </I>The Company, the Guarantor and the Underwriters agree that it would not be just and equitable if contribution
pursuant to this Section 9 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such
purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph
(d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred
to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred
by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 9, in no
event shall an Underwriter be required to contribute any amount in excess of the amount by which the total discounts and commissions
received by such Underwriter with respect to the offering of the Securities exceeds the amount of any damages that such Underwriter
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation. The Underwriters&rsquo; obligations to contribute pursuant
to this Section 9 are several in proportion to their respective purchase obligations hereunder and not joint.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;<I>Non-Exclusive
Remedies. </I>The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies that may
otherwise be available to any Indemnified Person at law or in equity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;This
Agreement may be terminated in the absolute discretion of the Representatives, by notice to the Company, if after the execution
and delivery of this Agreement and on or prior to the Time of Delivery (i) trading generally shall have been suspended or materially
limited on the New York Stock Exchange or the over-the-counter market; (ii) trading of any securities issued or guaranteed by the
Company or the Guarantor shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium
on commercial banking activities shall have been declared by federal or New York State authorities; (iv) there shall have occurred
any material disruption to settlement or clearance services; or (v) there shall have occurred any outbreak or escalation of hostilities
or any change in financial markets or any calamity or crisis, either within or outside the United States, that, in the judgment
of the Representatives, is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or
delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Pricing Prospectus and the Prospectus.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(a)&nbsp;&nbsp;If
any Underwriter shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder, you may in
your discretion arrange for you or another party or other parties to purchase such Securities by persons satisfactory to the Company
on the terms contained herein.&nbsp;&nbsp;If within thirty six hours after such default by any Underwriter you do not arrange for
the purchase of such Securities, then the Company shall be entitled to a further period of thirty six hours within which to procure
another party or other parties satisfactory to you to purchase such Securities on such terms.&nbsp;&nbsp;In the event that, within
the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Securities, or the
Company notifies you that it has so arranged for the purchase of such Securities, you or the Company shall have the right to postpone
the Time of Delivery for a period of not more than five full business days, in order to effect whatever changes that in the opinion
of counsel for the Company or counsel for the Underwriters may thereby be made necessary in the Registration Statement or the Prospectus,
or in any other documents or arrangements, and the Company agrees to file promptly any amendments or supplements to the Registration
Statement or the Prospectus.&nbsp;&nbsp;The term &ldquo;Underwriter&rdquo; as used in this Agreement shall include any person substituted
under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Securities.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If,
after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by you and
the Company as provided in subsection (a) above, the aggregate principal amount of such Securities which remains unpurchased does
not exceed one eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to require
each non-defaulting Underwriter to purchase the principal amount of Securities which such Underwriter agreed to purchase hereunder
and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the principal amount of Securities
which such Underwriter agreed to purchase hereunder) of the Securities of such defaulting Underwriter or Underwriters for which
such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default.
</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If,
after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by you and
the Company as provided in subsection (a) above, the aggregate principal amount of Securities which remains unpurchased exceeds
one eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise the right described
in subsection (b) above to require non-defaulting Underwriters to purchase Securities of a defaulting Underwriter or Underwriters,
then this Agreement shall thereupon terminate, without liability on the part of any non-defaulting Underwriter, the Company or
the Guarantor, except for the expenses to be borne by the Company and the Underwriters as provided in Section 7 hereof and the
indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Underwriter from liability
for its default.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
respective indemnities, agreements, representations, warranties and other statements of the Company and the several Underwriters,
as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full
force and effect, regardless of any investigation (or any statement as </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">to the results thereof)
made by or on behalf of any Underwriter or any controlling person of any Underwriter, or the Company, or any officer or director
or controlling person of the Company, and shall survive delivery of and payment for the Securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If
this Agreement shall be terminated pursuant to Section 11 hereof, the Company shall not then be under any liability to any Underwriter
except as provided in Sections 7 and 9 hereof; but, if (i) this Agreement is terminated pursuant to Section 10, (ii) the Company
for any reason fails to tender the Securities for delivery to the Underwriters or (iii) the Underwriters decline to purchase the
Securities for any reason permitted under this Agreement, the Company and the Guarantor jointly and severally agree to reimburse
the Underwriters through you for all out of pocket expenses approved in writing by you, including fees and disbursements of counsel,
reasonably incurred by the Underwriters in making preparations for the purchase, sale and delivery of the Securities, but the Company
shall then be under no further liability to any Underwriter except as provided in Sections 7 and 9 hereof.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
all dealings hereunder, you shall act on behalf of each of the Underwriters, and the parties hereto shall be entitled to act and
rely upon any statement, request, notice or agreement on behalf of any Underwriter made or given by you jointly or by Goldman Sachs
&amp; Co. LLC on behalf of you as the representatives.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All statements, requests,
notices and agreements hereunder shall be in writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile
transmission to you as the representatives in care of Goldman Sachs &amp; Co. LLC, 200 West Street, New York, New York 10282-2198,
Attention: Registration Department; and if to the Company or the Guarantor, shall be delivered or sent by mail, telex or facsimile
transmission to the address of the Company set forth in the Registration Statement, Attention: Secretary; provided, however, that
any notice to an Underwriter pursuant to Section 9(c) hereof shall be delivered or sent by mail, telex or facsimile transmission
to such Underwriter at its address set forth in its Underwriters' Questionnaire, or telex constituting such Questionnaire, which
address will be supplied to the Company by you upon request.&nbsp;&nbsp;Any such statements, requests, notices or agreements shall
take effect upon receipt thereof.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In accordance with the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Underwriters are required
to obtain, verify and record information that identifies their respective clients, including the Company, which information may
include the name and address of their respective clients, as well as other information that will allow the Underwriters to properly
identify their respective clients.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
Agreement shall be binding upon, and inure solely to the benefit of, the Underwriters, the Company, the Guarantor and, to the extent
provided in Sections 9 and 12 hereof, the officers and directors of the Company and the Guarantor and each person who controls
the Company, the Guarantor or any Underwriter, and their respective heirs, executors, administrators, successors and assigns, and
no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Securities from
any Underwriter shall be deemed a successor or assign by reason merely of such purchase.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Time
shall be of the essence of this Agreement.&nbsp;&nbsp;As used herein, the term &ldquo;business day&rdquo; shall mean any day when
the Commission's office in Washington, D.C. is open for business.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Each
of the Company and the Guarantor acknowledges and agrees that (i) the purchase and sale of the Securities pursuant to this Agreement
is an arm's-length commercial transaction between the Company and the Guarantor, on the one hand, and the several Underwriters,
on the other, (ii) in connection therewith and with the process leading to such transaction each Underwriter is acting solely as
a principal and not the agent or fiduciary of the Company or the Guarantor, (iii) no Underwriter has assumed an advisory or fiduciary
responsibility in favor of the Company or the Guarantor with respect to the offering contemplated hereby or the process leading
thereto (irrespective of whether such Underwriter has advised or is currently advising the Company on other matters) or any other
obligation to the Company or the Guarantor except the obligations expressly set forth in this Agreement and (iv) the Company and
the Guarantor has consulted its own legal and financial advisors to the extent it deemed appropriate.&nbsp;&nbsp;Each of the Company
and the Guarantor agrees that it will not claim that the Underwriters, or any of them, has rendered advisory services of any nature
or respect, or owes a fiduciary or similar duty to the Company or the Guarantor, in connection with such transaction or the process
leading thereto.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">18.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company, the Guarantor and the
Underwriters, or any of them, with respect to the subject matter hereof.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.&nbsp;&nbsp;<B>This
Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to principles of conflict of laws that would results in the application
of any other law than the laws of the State of New York. </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">20.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company and the Guarantor hereby submit to the exclusive jurisdiction of the U.S. federal and New York state courts in the Borough
of Manhattan in The City of New York (the &ldquo;New York Courts&rdquo;) in any suit or proceeding arising out of or relating to
this Agreement or the transactions contemplated hereby. The Company and the Guarantor irrevocably and unconditionally waive any
objection which it may now or hereafter have to the laying of venue of any such suit or proceeding in such courts. Service of any
process, summons, notice or document by mail to the Company&rsquo;s address set forth above shall be effective service of process
for any suit or proceeding brought in any of the New York Courts. Each of the Company and the Guarantor agrees that final judgment
in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and each Guarantor,
as applicable, and may be enforced in any court to the jurisdiction of which Company and each Guarantor, as applicable, is subject
by a suit upon such judgment. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">21.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company, the Guarantor and each of the Underwriters hereby irrevocably waives, to the fullest extent permitted by applicable law,
any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">22.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed
to be an original, but all such respective counterparts shall together constitute one and the same instrument.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">23.&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Notwithstanding
anything herein to the contrary, the Company and the Guarantor are authorized to disclose to any persons the U.S. federal and state
income tax treatment and tax structure of the potential transaction and all materials of any kind (including tax opinions and other
tax analyses) provided to the Company or the Guarantor, respectively, relating to that treatment and structure, without the Underwriters,
imposing any limitation of any kind. However, any information relating to the tax treatment and tax structure shall remain confidential
(and the foregoing sentence shall not apply) to the extent necessary to enable any person to comply with securities laws. For this
purpose, &ldquo;tax structure&rdquo; is limited to any facts that may be relevant to that treatment.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing is
in accordance with your understanding, please sign and return to us counterparts hereof, and upon the acceptance hereof by you,
on behalf of each of the Underwriters, this letter and such acceptance hereof shall constitute a binding agreement between each
of the Underwriters and the Company.&nbsp;&nbsp;It is understood that your acceptance of this letter on behalf of each of the Underwriters
is pursuant to the authority set forth in a form of Agreement among Underwriters, the form of which shall be submitted to the Company
for examination upon request, but without warranty on your part as to the authority of the signers thereof.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>S&amp;P Global Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ Edward J. Haran</I></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Edward J. Haran</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SVP &amp; Treasurer</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Standard &amp; Poor&rsquo;s Financial
    Services LLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ John Berisford</I></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">John Berisford</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">President</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">[<I>Signature page to Underwriting Agreement</I>]</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Accepted as of the date hereof:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Goldman Sachs &amp; Co. LLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>By:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ Raffael Fiumara</I></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Name: </B></FONT></TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Raffael Fiumara</B></FONT></TD>
    <TD STYLE="width: 51%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Title: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Vice President</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Merrill Lynch, Pierce, Fenner &amp; Smith</B></FONT></P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Incorporated</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>By:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ Keith Harman</I></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Name: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Keith Harman</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Title: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Managing Director</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Deutsche Bank Securities Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>By:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ John C. McCabe</I></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Name: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>John C. McCabe</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Title: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Managing Director</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>By:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ Anguel Zaprianov</I></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Name: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Anguel Zaprianov</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Title: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Managing Director</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Mizuho Securities USA LLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>By:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/ Michael L. Saron</I></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Name: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Michael L. Saron</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Title: </B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Managing Director</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">On behalf of each of the Underwriters</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">SCHEDULE I</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center"><U>Underwriter</U></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Principal Amount of Securities to be Purchased</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 89%; text-align: left">Goldman Sachs &amp; Co. LLC&#9;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">87,500,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Merrill Lynch, Pierce, Fenner &amp; Smith <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporated&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Deutsche Bank Securities Inc.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Mizuho Securities USA LLC&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Citigroup Global Markets Inc.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">J.P. Morgan Securities LLC&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Morgan Stanley &amp; Co. LLC&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">BMO Capital Markets Corp.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Credit Suisse Securities (USA) LLC&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Scotia Capital (USA) Inc.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">SunTrust Robinson Humphrey, Inc.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">U.S. Bancorp Investments, Inc.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt">The Williams Capital Group, L.P.&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,750,000</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 49.5pt">&nbsp;Total&#9;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">500,000,000</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


<!-- Field: Page; Sequence: 27; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">SCHEDULE II</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Issuer
Free Writing Prospectuses not included in the Pricing Disclosure Package:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Additional
Documents Incorporated by Reference:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">ANNEX I</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">[Davis
Polk &amp; Wardwell LLP Letterhead]</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%"><FONT STYLE="font-size: 10pt">May [&#9679;], 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">S&amp;P Global Inc. </FONT><BR>
<FONT STYLE="font-size: 10pt">[&#9679;]% Senior Notes due 20[&#9679;]</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Goldman Sachs &amp; Co. LLC</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">200 West Street&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10282</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Deutsche Bank Securities Inc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">60 Wall Street&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10005</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Merrill Lynch, Pierce, Fenner
&amp; Smith</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">One Bryant Park</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10036</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Mizuho Securities USA LLC&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">320 Park Avenue &ndash; 12<SUP>th</SUP>
Floor</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10022</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">as Representatives of the several
Underwriters named in&nbsp;Schedule I to the Underwriting Agreement referred to below<BR>
<BR></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as special
counsel for S&amp;P Global Inc., a New York corporation (the &ldquo;Company&rdquo;) and Standard &amp; Poor&rsquo;s Financial Services
LLC, a Delaware limited liability company, as guarantor (the &ldquo;Guarantor&rdquo;), in connection with the Underwriting Agreement
dated May [&#9679;], 2018 (the &ldquo;Underwriting Agreement&rdquo;) with you and the other several Underwriters named in Schedule
I thereto, under which you and such other Underwriters have severally agreed to purchase from the Company $[500,000,000] aggregate
principal amount of its [&#9679;]% senior notes due 20[&#9679;] (the &ldquo;Notes&rdquo;).&nbsp;&nbsp;The Notes are to be issued
pursuant to the provisions of the Indenture dated as of May 26, 2015, as supplemented by the Fourth Supplemental Indenture thereto
dated as of May [&#9679;], 2018 (collectively, the &ldquo;Indenture&rdquo;) among the Company, the Guarantor and U.S. Bank National
Association, as trustee.&nbsp;&nbsp;The Notes will be guaranteed by the Guarantor (the &ldquo;Guarantee&rdquo; and, together with
the Notes, the &ldquo;Securities&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have examined originals
or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary
or advisable for the purpose of rendering this opinion.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also participated
in the preparation of the Company&rsquo;s registration statement on Form S-3 (File No. 333-224198)&nbsp;&nbsp;(other than the documents
incorporated by reference therein (the &ldquo;Incorporated Documents&rdquo;)) filed with the Securities and Exchange Commission
(the &ldquo;Commission&rdquo;) pursuant to the provisions of the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;), relating
to the registration of securities (the &ldquo;Shelf Securities&rdquo;) to be issued from time to time by the Company, the preliminary
prospectus supplement dated May [&#9679;], 2018 (the &ldquo;Preliminary Prospectus Supplement&rdquo;) relating to the Securities,
the pricing term sheet dated May [&#9679;], 2018 filed pursuant to Rule 433 under the Act and the prospectus supplement dated May
[&#9679;], 2018 relating to the Securities (the &ldquo;Prospectus Supplement&rdquo;), and have reviewed the Incorporated Documents.&nbsp;&nbsp;The
registration statement became effective under the Act and the Indenture qualified under the Trust Indenture Act of 1939, as amended
(the &ldquo;Trust Indenture Act&rdquo;), upon the filing of the registration statement with the Commission on April 9, 2018 pursuant
to Rule 462(e).&nbsp;&nbsp;To our knowledge, no stop order suspending the effectiveness of the registration statement has been
issued and no proceedings for that purpose have been instituted or are pending or contemplated under the Act.&nbsp;&nbsp;The registration
statement at the date of the Underwriting Agreement, including the Incorporated Documents and the information deemed to be part
of the registration statement at the time of effectiveness pursuant to Rule 430B under the Act, is hereinafter referred to as the
&ldquo;Registration Statement,&rdquo; and the related prospectus (including the Incorporated Documents) dated April 9, 2018 relating
to the Shelf Securities is hereinafter referred to as the &ldquo;Basic Prospectus.&rdquo;&nbsp;&nbsp;The Basic Prospectus, as supplemented
by the Prospectus Supplement, in the form first used to confirm sales of the Securities (or in the form first made available by
the Company to the Underwriters to meet requests of purchasers of the Securities under Rule 173 under the Act), is hereinafter
referred to as the &ldquo;Prospectus.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering the opinions
expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals
are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all documents
filed with or submitted to the Commission through its Electronic Data Gathering, Analysis and Retrieval (&ldquo;EDGAR&rdquo;) system
(except for required EDGAR formatting changes) conform to the versions of such documents reviewed by us prior to such formatting,
(iv)&nbsp;all signatures on all documents that we reviewed are genuine, (v) all natural persons executing documents had and have
the legal capacity to do so, (vi) all statements in certificates of public officials and officers of the Company and the Guarantor
that we reviewed were and are accurate and (vii) all representations made by the Company and the Guarantor as to matters of fact
in the documents that we reviewed were and are accurate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon the foregoing,
and subject to the additional assumptions and qualifications set forth below, we are of the opinion that:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 30; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;The
Company is validly existing as a corporation in good standing under the laws of the State of New York, and the Company has corporate
power and authority to issue the Securities, to enter into the Underwriting Agreement and to perform its obligations thereunder.
The Guarantor is validly existing as a limited liability company in good standing under the laws of the State of Delaware, and
the Guarantor has power and authority to issue the Guarantee, to enter into the Underwriting Agreement and to perform its obligations
thereunder.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;The
Underwriting Agreement has been duly authorized, executed and delivered by the Company and the Guarantor.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;The
Securities have been duly authorized and when executed and authenticated in accordance with the provisions of the Indenture and
delivered to and paid for by the Underwriters pursuant to the Underwriting Agreement, will be valid and binding obligations of
the Company and the Guarantor, enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and similar
laws affecting creditors&rsquo; rights generally, concepts of reasonableness and equitable principles of general applicability,
and will be entitled to the benefits of the Indenture pursuant to which such Securities are to be issued; provided that we express
no opinion as to (x) the enforceability of any waiver of rights under any usury or stay law, (y) the effect of fraudulent conveyance,
fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (z) the validity, legally binding
effect or enforceability of any provision that permits holders to collect any portion of stated principal amount upon acceleration
of the Securities to the extent determined to constitute unearned interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;The
Indenture has been duly authorized, executed and delivered by the Company and the Guarantor and is a valid and binding agreement
of the Company and the Guarantor, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and similar
laws affecting creditors&rsquo; rights generally, concepts of reasonableness and equitable principles of general applicability;
provided that we express no opinion as to (x) the enforceability of any waiver of rights under any usury or stay law, (y) the effect
of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (z)
the validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of stated principal
amount upon acceleration of the Securities to the extent determined to constitute unearned interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;Each
of the Company and the Guarantor is not, and after giving effect to the offering and sale of the Securities and the application
of the proceeds thereof as described in the Prospectus will not be, required to register as an &ldquo;investment company&rdquo;
as such term is defined in the Investment Company Act of 1940, as amended.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;The
execution and delivery by the Company of, and the performance by the Company of its obligations under, the Indenture, the Securities
and the Underwriting Agreement (collectively, and together with the</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 31; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Guarantee, the
&ldquo;Documents&rdquo;) and the execution and delivery by the Guarantor of, and the performance by the Guarantor of its obligations
under, the Documents will not contravene (i) any provision of the statutory laws of the State of New York, the Delaware Limited
Liability Company Act or any federal law of the United States of America that in our experience is normally applicable to general
business corporations in relation to transactions of the type contemplated by the Documents (provided that we express no opinion
as to federal or state securities laws), (ii) the certificate of incorporation or bylaws of the Company or certificate of formation
or the limited liability company agreement of the Guarantor or (iii) any agreement that is filed as an Exhibit to the Company&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2018; provided that we express no opinion in clause (iii) as to compliance
with any financial or accounting test, or any limitation or restriction expressed as a dollar (or other currency) amount, ratio
or percentage in any agreement that is filed as an Exhibit to the Company&rsquo;s Annual Report on Form 10-K for the year ended
December 31, 2018.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;No
consent, approval, authorization, or order of, or qualification with, any governmental body or agency under the laws of the State
of New York, the Delaware Limited Liability Company Act or any federal law of the United States of America that in our experience
is normally applicable to general business corporations in relation to transactions of the type contemplated by the Documents is
required for the execution, delivery and performance by the Company or the Guarantor of its respective obligations under the Documents,
except such as may be required under federal or state securities or Blue Sky laws as to which we express no opinion in this paragraph.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have considered the
statements included in the Prospectus under the captions &ldquo;Description of Debt Securities and Guarantees&rdquo; and &ldquo;Description
of Notes&rdquo; insofar as they summarize provisions of the Indenture and the Securities.&nbsp;&nbsp;In our opinion, such statements
fairly summarize these provisions in all material respects.&nbsp;&nbsp;The statements included in the Prospectus under the caption
&ldquo;Material U.S. Federal Income Tax Considerations,&rdquo; insofar as they purport to describe provisions of U.S. federal income
tax laws or legal conclusions with respect thereto, in our opinion fairly and accurately summarize the matters referred to therein
in all material respects.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering the opinions
in paragraphs (2) through (4) above, we have assumed that each party to the Documents has been duly incorporated and (other than
the Company and the Guarantor) is validly existing and in good standing under the laws of the jurisdiction of its organization.
In addition, we have assumed that (i) the execution, delivery and performance by each party thereto of each Document to which it
is a party, (a) are within its corporate powers, (b) do not contravene, or constitute a default under, the certificate of incorporation
or bylaws or other constitutive documents of such party, (c) require no action by or in respect of, or filing with, any governmental
body, agency or official and (d) do not contravene, or constitute a default under, any provision of applicable law or regulation
or any judgment, injunction, order or decree or any agreement or other instrument binding upon such party, provided that we make
no such assumption to the extent that we have specifically opined as to such matters with</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 32; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">respect to the Company
and the Guarantor, and (ii) each Document (other than the Underwriting Agreement) is a valid, binding and enforceable agreement
of each party thereto (other than as expressly covered above in respect of the Company and the Guarantor).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are members of the
Bar of the State of New York, and the foregoing opinion is limited to the laws of the State of New York, the federal laws of the
United States of America and the Delaware Limited Liability Company Act, except that we express no opinion as to any law, rule
or regulation that is applicable to the Company or the Guarantor, the Documents or such transactions solely because such law, rule
or regulation is part of a regulatory regime applicable to any party to any of the Documents or any of its affiliates due to the
specific assets or business of such party or such affiliate.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This opinion is delivered
solely to you and the other several Underwriters in connection with the Underwriting Agreement.&nbsp;&nbsp;This opinion may not
be relied upon by you or the other several Underwriters for any other purpose or relied upon by any other person (including any
person acquiring Securities from the several Underwriters) or furnished to any other person without our prior written consent.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 33; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">[Davis
        Polk &amp; Wardwell LLP Letterhead]</FONT></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">May [&#9679;], 2018</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">S&amp;P Global Inc. </FONT><BR>
<FONT STYLE="font-size: 10pt">[&#9679;]% Senior Notes due 20[&#9679;]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Goldman Sachs &amp; Co. LLC</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">200 West Street&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10282</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Deutsche Bank Securities Inc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">60 Wall Street&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10005</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Merrill Lynch, Pierce, Fenner
&amp; Smith</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">One Bryant Park</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10036</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Mizuho Securities USA LLC&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">320 Park Avenue &ndash; 12<SUP>th</SUP>
Floor</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York 10022</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">as Representatives of the several
Underwriters named in&nbsp;Schedule I to the Underwriting Agreement referred to below<BR>
<BR></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We have acted as special counsel for S&amp;P Global Inc., a New
York corporation (the &ldquo;Company&rdquo;) and Standard &amp; Poor&rsquo;s Financial Services LLC, a Delaware limited liability
company, as guarantor (the &ldquo;Guarantor&rdquo;), in connection with the Underwriting Agreement dated May [&#9679;], 2018 (the
&ldquo;Underwriting Agreement&rdquo;) with you and the other several Underwriters named in Schedule I thereto, under which you
and such other Underwriters have severally agreed to purchase from the Company $[500,000,000] aggregate principal amount of its [&#9679;]%
senior notes due 20[&#9679;] (the &ldquo;Notes&rdquo;).&nbsp;&nbsp;The Notes are to be issued pursuant to the provisions of the
Indenture dated as of May 26, 2015,&nbsp;&nbsp;as supplemented by the Fourth Supplemental Indenture thereto dated as of May [&#9679;],
2018 (collectively, the &ldquo;Indenture&rdquo;) among the Company, the Guarantor and U.S. Bank National Association, as trustee.
The Notes will be guaranteed by the Guarantor (the &ldquo;Guarantee&rdquo; and, together with the Notes, the &ldquo;Securities&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We have participated in the preparation of the Company&rsquo;s
registration statement on Form S-3 (File No. 333-224198) (other than the documents incorporated by reference therein (the</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 34; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&ldquo;Incorporated Documents&rdquo;)) filed with the Securities
and Exchange Commission (the &ldquo;Commission&rdquo;) pursuant to the provisions of the Securities Act of 1933, as amended (the
&ldquo;Act&rdquo;), relating to the registration of securities (the &ldquo;Shelf Securities&rdquo;) to be issued from time to time
by the Company, the preliminary prospectus supplement dated May [&#9679;], 2018 (the &ldquo;Preliminary Prospectus Supplement&rdquo;)
relating to the Securities, the pricing term sheet dated May [&#9679;], 2018 filed pursuant to Rule 433 under the Act (the &ldquo;Pricing
Term Sheet&rdquo;) and the prospectus supplement dated May [&#9679;], 2018 relating to the Securities (the &ldquo;Prospectus Supplement&rdquo;),
and have reviewed the Incorporated Documents.&nbsp;&nbsp;The registration statement at the date of the Underwriting Agreement,
including the Incorporated Documents and the information deemed to be part of the registration statement at the time of effectiveness
pursuant to Rule 430B under the Act, is hereinafter referred to as the &ldquo;Registration Statement,&rdquo; and the related prospectus
(including the Incorporated Documents) dated April 9, 2018 relating to the Shelf Securities is hereinafter referred to as the &ldquo;Basic
Prospectus.&rdquo;&nbsp;&nbsp;The Basic Prospectus, as supplemented by the Preliminary Prospectus Supplement, together with the
Pricing Term Sheet are hereinafter referred to as the &ldquo;Disclosure Package.&rdquo;&nbsp;&nbsp;The Basic Prospectus, as supplemented
by the Prospectus Supplement, in the form first used to confirm sales of the Securities (or in the form first made available by
the Company to the Underwriters to meet requests of purchasers of the Securities under Rule 173 under the Act), is hereinafter
referred to as the &ldquo;Prospectus.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We have, without independent inquiry or investigation, assumed
that all documents filed with or submitted to the Commission through its Electronic Data Gathering, Analysis and Retrieval (&ldquo;EDGAR&rdquo;)
system (except for required EDGAR formatting changes) conform to the versions of such documents reviewed by us prior to such formatting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The primary purpose of our professional engagement was not to
establish or confirm factual matters or financial, accounting or quantitative information.&nbsp;&nbsp;Furthermore, many determinations
involved in the preparation of the Registration Statement, the Disclosure Package and the Prospectus are of a wholly or partially
non-legal character or relate to legal matters outside the scope of our opinion separately delivered to you today in respect of
certain matters under the laws of the State of New York, the federal laws of the United States of America and the Delaware Limited
Liability Company Act.&nbsp;&nbsp;As a result, we are not passing upon, and do not assume any responsibility for, the accuracy,
completeness or fairness of the statements contained in the Registration Statement, the Disclosure Package or the Prospectus, and
we have not ourselves checked the accuracy, completeness or fairness of, or otherwise verified, the information furnished in such
documents (except to the extent expressly set forth in our opinion letter separately delivered to you today as to statements included
in the Prospectus under the captions &ldquo;Description of Debt Securities and Guarantees&rdquo; and &ldquo;Description of Notes&rdquo;).&nbsp;&nbsp;However,
in the course of our acting as counsel to the Company in connection with the preparation of the Registration Statement, the Disclosure
Package and the Prospectus, we have generally reviewed and discussed with your representatives and your counsel and with certain
officers and employees of, and independent public accountants for, the Company the information furnished, whether or not subject
to our check and verification.&nbsp;&nbsp;We have also reviewed and relied upon certain corporate records and documents, letters
from counsel and accountants and oral and written</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 35; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">statements of officers and other representatives of the Company
and others as to the existence and consequence of certain factual and other matters.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On the basis of the information gained in the course of the performance
of the services rendered above, but without independent check or verification except as stated above:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>the Registration Statement and the Prospectus appear on their face to be appropriately responsive in all material respects
to the requirements of the Act and the applicable rules and regulations of the Commission thereunder; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>nothing has come to our attention that causes us to believe that, insofar as relevant to the offering of the Securities:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>on the date of the Underwriting Agreement, the Registration Statement contained any untrue statement of a material fact or
omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>at [&#9679;] [A/P.M.] New York City time on May [&#9679;], 2018, the Disclosure Package contained any untrue statement of a
material fact or omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading, or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>the Prospectus as of the date of the Underwriting Agreement or as of the date hereof contained or contains any untrue statement
of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In providing this letter to you and the other several Underwriters,
we have not been called to pass upon, and we express no view regarding, the financial statements or financial schedules or other
financial or accounting data included in the Registration Statement, the Disclosure Package, the Prospectus, or the Statement of
Eligibility of the Trustee on Form T-1.&nbsp;&nbsp;In addition, we express no view as to the conveyance of the Disclosure Package
or the information contained therein to investors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">This letter is delivered solely to you and the other several
Underwriters in connection with the Underwriting Agreement.&nbsp;&nbsp;This letter may not be relied upon by you or the other several
Underwriters for any other purpose or relied upon by any other person (including any person acquiring Securities from the several
Underwriters) or furnished to any other person without our prior written consent.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 36; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
    <!-- Field: /Page -->



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>3
<FILENAME>dp91030_ex0402.htm
<DESCRIPTION>EXHIBIT 4.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Exhibits
4.2 and 4.3</B></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">S&amp;P
GLOBAL INC.</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">STANDARD
&amp; POOR&rsquo;S FINANCIAL SERVICES LLC,</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">as Guarantor</FONT></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.500%
Senior Notes due 2048</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">FOURTH
SUPPLEMENTAL INDENTURE</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dated
as of May 17, 2018</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">to
the Indenture Dated as of May 26, 2015</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">U.S.
BANK NATIONAL ASSOCIATION, as Trustee</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">TABLE
OF CONTENTS</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 4.1pt 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>PAGE</U></B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 4.1pt 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD COLSPAN="2" STYLE="text-align: center; padding-top: 0in; padding-bottom: 12pt; padding-left: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Article 1</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">DEFINITIONS</FONT></P></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 12pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    1.01.&nbsp;&nbsp;&nbsp;<I>Certain Terms Defined in the Indenture; Additional Terms</I></FONT></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD COLSPAN="2" STYLE="text-align: center; padding-top: 0in; padding-bottom: 12pt; padding-left: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Article 2</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">FORM AND TERMS OF THE NOTES</FONT></P></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.01.&nbsp;&nbsp;&nbsp;<I>Form and Dating</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.02.&nbsp;&nbsp;&nbsp;<I>Paying Agent; Depository</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.03.&nbsp;&nbsp;&nbsp;<I>Registration</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.04.&nbsp;&nbsp;&nbsp;<I>Transfer and Exchange</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.05.&nbsp;&nbsp;&nbsp;<I>Terms of the Notes</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.06.&nbsp;&nbsp;&nbsp;<I>Optional Redemption</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 12pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    2.07.&nbsp;&nbsp;&nbsp;<I>Offer to Repurchase Upon a Change of Control Triggering Event</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD COLSPAN="2" STYLE="text-align: center; padding-top: 0in; padding-bottom: 12pt; padding-left: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Article 3</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">SUPPLEMENTAL INDENTURE</FONT></P></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 12pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    3.01.&nbsp;&nbsp;&nbsp;<I>Supplemental Indentures Without Consent of Holders</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD COLSPAN="2" STYLE="text-align: center; padding-top: 0in; padding-bottom: 12pt; padding-left: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Article 4</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">GUARANTEE</FONT></P></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 12pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    4.01.&nbsp;&nbsp;&nbsp;<I>Release of Guarantor from Guarantee</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD COLSPAN="2" STYLE="text-align: center; padding-top: 0in; padding-bottom: 12pt; padding-left: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Article 5</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">MISCELLANEOUS</FONT></P></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.01.&nbsp;&nbsp;&nbsp;<I>Trust Indenture Act Controls</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.02.&nbsp;&nbsp;&nbsp;<I>Governing Law</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.03.&nbsp;&nbsp;&nbsp;<I>Payment of Notes</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.04.&nbsp;&nbsp;&nbsp;<I>Multiple Counterparts</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.05.&nbsp;&nbsp;&nbsp;<I>Severability</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.06.&nbsp;&nbsp;&nbsp;<I>Relation to Indenture</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.07.&nbsp;&nbsp;&nbsp;<I>Ratification</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.08.&nbsp;&nbsp;&nbsp;<I>Effectiveness</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 12pt; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
    5.09.&nbsp;&nbsp;&nbsp;<I>Trustee Not Responsible for Recitals or Issuance of Securities</I></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12</FONT></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">i</FONT><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>EXHIBITS</U></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">EXHIBIT
A&#9;Form of Note</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">EXHIBIT B&#9;DTC Legend</FONT></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ii</FONT><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">FOURTH
SUPPLEMENTAL INDENTURE</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>FOURTH
SUPPLEMENTAL INDENTURE</B> (this &ldquo;<B>Fourth Supplemental Indenture</B>&rdquo;), dated as of May 17, 2018, among S&amp;P
GLOBAL INC., a New York corporation (the &ldquo;<B>Company</B>&rdquo;), having its principal executive offices at 55 Water Street,
New York, New York 10041, STANDARD &amp; POOR&rsquo;S FINANCIAL SERVICES LLC, a Delaware limited liability company, as Guarantor
hereunder, and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the &ldquo;<B>Trustee</B>&rdquo;).</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">RECITALS</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WHEREAS,
the Company, the Guarantor and the Trustee executed and delivered an Indenture, dated as of May 26, 2015 (the &ldquo;<B>Indenture</B>&rdquo;),
to provide for the issuance by the Company from time to time of Securities to be issued in one or more series as provided in the
Indenture;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WHEREAS,
the issuance and sale of $500,000,000 aggregate principal amount of a new series of the Securities of the Company designated as
its 4.500% Senior Notes due 2048 and, if and when issued, any Additional Notes as provided herein (the &ldquo;<B>Notes</B>&rdquo;),
to be fully and unconditionally guaranteed by the Guarantor, have been authorized by resolutions adopted by the Board of Directors
of the Company and the board of directors of the Guarantor;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WHEREAS,
the Company desires to issue and sell $500,000,000 aggregate principal amount of the Notes on the date hereof, to be fully and
unconditionally guaranteed by the Guarantor in accordance with Article 12 of the Indenture;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WHEREAS,
Sections 2.01 and 10.01 of the Indenture provide that the Company, when authorized by a Board Resolution, and the Trustee may
amend or supplement the Indenture to provide for the issuance of and to establish the form or terms and conditions of Securities
of any series as permitted by the Indenture;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WHEREAS,
the Company desires to establish the form, terms and conditions of the Notes; and</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WHEREAS,
all things necessary to make this Fourth Supplemental Indenture a legal, valid and binding supplement to the Indenture according
to its terms and the terms of the Indenture have been done;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NOW,
THEREFORE, for and in consideration of the premises and the purchase of the Notes by the Holders thereof, the Company, the Guarantor
and the Trustee mutually covenant and agree, for the equal and proportionate benefit of all Holders of the Notes, as follows:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Article
1</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">DEFINITIONS</FONT></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
1.01.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Certain Terms Defined in the Indenture;
Additional Terms</I>.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">For
purposes of this Fourth Supplemental Indenture, all capitalized terms used but not defined herein shall have the meanings ascribed
to such terms in the Indenture, as amended hereby.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following capitalized terms used herein shall be defined accordingly:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Agent
Member</B>&rdquo; means a member of, or a participant in, the Depository.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Additional
Notes</B>&rdquo; shall have the meaning set forth in Section 2.05(b).</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Below
Investment Grade Rating Event</B>&rdquo; means the Notes are rated below an Investment Grade Rating by each of the Rating Agencies
on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the
60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long
as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); <I>provided
</I>that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed
to have occurred in respect to a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event
for purposes of the definition of Change of Control Triggering Event hereunder) if the Rating Agencies making the reduction in
rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee or the Company
in writing at the Trustee&rsquo;s or the Company&rsquo;s request that the reduction was the result, in whole or in part, of any
event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not
the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). The Trustee has
no obligation to monitor or determine if any such event has occurred.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Certificated
Note</B>&rdquo; means a Note in registered individual certificated form without interest coupons.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Change
of Control</B>&rdquo; means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially
all of the properties or assets of the Company and its Subsidiaries taken as a whole to any person (as defined in the Indenture,
and in addition as that term is used in Section 13(d)(3) and Section 14(d)(2) of the Exchange Act) or group of related persons
for purposes of Section 13(d) of the Exchange Act other than the Company or one of its Subsidiaries; (2) the approval by the holders
of the Company&rsquo;s common stock of any plan or proposal for the liquidation or dissolution of the Company (whether or not
otherwise in compliance with the provisions hereof); or (3) the consummation of any transaction or series of related transactions
(including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner,
directly or indirectly, of more than 50% of the then outstanding number of shares of the Company&rsquo;s Voting Stock.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Change
of Control Offer</B>&rdquo; has the meaning set forth in Section 2.07(a) hereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Change
of Control Payment</B>&rdquo; has the meaning set forth in Section 2.07(a) hereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Change
of Control Payment Date</B>&rdquo; has the meaning set forth in Section 2.07(b)(iii) hereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Change
of Control Triggering Event</B>&rdquo; means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Comparable
Treasury Issue</B>&rdquo; means the U.S. treasury security selected by an Independent Investment Banker as having a maturity comparable
to the remaining term (the &ldquo;Remaining Life&rdquo;) of the Notes to be redeemed that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of such Notes assuming in each case that the Notes matured on November 15, 2047.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Comparable
Treasury Price</B>&rdquo; means, with respect to any Optional Redemption Date, (1) the average of five Reference Treasury Dealer
Quotations for such Optional Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or
(2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
such quotations.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Credit
Facility</B>&rdquo; means one or more (i) credit facilities with banks, investors, purchasers or other debtholders or other lenders
providing for revolving credit loans or term loans or the issuance of letters of credit or bankers&rsquo; acceptances or the like,
(ii) note purchase agreements and indentures providing for the sale of Debt securities or (iii) agreements that refinance any
Debt incurred under any arrangement or agreement described in clause (i) or (ii) or this clause (iii), including in each case
any successor or replacement arrangement, arrangements, agreement or agreements.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>DTC</B>&rdquo;
means The Depository Trust Company.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>DTC
Legend</B>&rdquo; means the legend set forth in Exhibit B.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Fitch</B>&rdquo;
means Fitch Ratings Ltd, and its successors.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Global
Note</B>&rdquo; means a Note in registered global form without interest coupons.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Independent
Investment Banker</B>&rdquo; means any of Goldman Sachs &amp; Co. LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner
&amp; Smith Incorporated and Mizuho Securities USA LLC as specified by the Company, or if these firms are unwilling or unable
to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company,
in the Company&rsquo;s sole discretion.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Initial
Notes</B>&rdquo; means the Notes issued on the Issue Date and any Notes issued in replacement thereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>interest</B>,&rdquo;
in respect of the Notes, unless the context otherwise requires, refers to interest.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Investment
Grade Rating</B>&rdquo; means a rating equal to or higher than Baa3 (or the equivalent) by Moody&rsquo;s and equal to or higher
than BBB- (or the equivalent) by Fitch (or, in each case, the equivalent investment grade credit rating from any Rating Agency).</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Issue
Date</B>&rdquo; means the date on which the Notes are originally issued under this Indenture.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Moody&rsquo;s</B>&rdquo;
means Moody&rsquo;s Investors Service, Inc., and its successors.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Optional
Redemption Date</B>&rdquo; means any such date fixed for redemption pursuant to Section 2.06(a) or Section 2.06(b).</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Rating
Agencies</B>&rdquo; means (1) Moody&rsquo;s and Fitch; (2) if Moody&rsquo;s or Fitch ceases to rate the Notes or fails to make
a rating of the Notes publicly available for reasons outside of the Company&rsquo;s control, a &ldquo;nationally recognized statistical
rating organization&rdquo; within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by
a resolution of the Company&rsquo;s board of directors) as a replacement agency for Moody&rsquo;s or Fitch; and (3) at the Company&rsquo;s
option, any other &ldquo;nationally recognized statistical rating organization&rdquo; within the meaning of Section 3(a)(62) of
the Exchange Act, selected by the Company (as certified by a resolution of the Company&rsquo;s board of directors) to rate the
Notes.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Redemption
Price</B>,&rdquo; when used with respect to any Security to be redeemed, means the price specified in the Security at which it
is to be redeemed pursuant to this Indenture.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Reference
Treasury Dealer</B>&rdquo; means (1) any of Goldman Sachs &amp; Co. LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce,
Fenner &amp; Smith Incorporated and Mizuho Securities USA LLC and their respective successors; <I>provided, however</I>, that
if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &ldquo;<B>Primary Treasury
Dealer</B>&rdquo;), the Company will substitute therefor another Primary Treasury Dealer and (2) any three other Primary Treasury
Dealers selected by the Company after consultation with the Independent Investment Banker.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Reference
Treasury Dealer Quotations</B>&rdquo; means, with respect to each Reference Treasury Dealer and any Optional Redemption Date,
the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00
p.m., New York City time, on the third business day preceding such Optional Redemption Date.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&ldquo;<B>Treasury
Rate</B>&rdquo; means, with respect to any Optional Redemption Date, (a) the yield, under the heading which represents the average
for the immediately preceding week, appearing in the most recently published statistical release designated &ldquo;H.15(519)&rdquo;
or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded U.S. treasury securities adjusted to constant maturity under the caption &ldquo;Treasury Constant Maturities,&rdquo;
for the maturity corresponding to the</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Comparable
Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities
most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month); or (b) if such release (or any successor release) is
not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Price for such Optional Redemption Date.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Article
2</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">FORM AND TERMS OF THE NOTES</FONT></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.01.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Form and Dating</I>. The Notes and
the Trustee&rsquo;s certificate of authentication shall be substantially in the form of Exhibit A attached hereto. The Notes shall
be executed on behalf of the Company by any Officer and attested by its Secretary or one of its Assistant Secretaries. The signature
of any of these Officers on the Notes may be manual or facsimile. The Notes may have notations, legends or endorsements required
by law, stock exchange rules or usage. Each Note shall be dated the date of its authentication. The Notes shall be in denominations
of $2,000 and integral multiples of $1,000, in excess thereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
terms and notations contained in the Notes shall constitute, and are hereby expressly made, a part of the Indenture as supplemented
by this Fourth Supplemental Indenture and the Company, the Guarantor and the Trustee, by their execution and delivery of this
Fourth Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.02.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Paying Agent; Depository</I>. (a)
The Company appoints the Trustee as the initial agent of the Company for the payment of the principal of (and premium, if any)
and interest on the Notes, and the office of the Trustee located in the Borough of Manhattan, the City of New York, be and hereby
is, designated as the office or agency where the Notes may be presented for payment and where notices to or demands upon the Company
in respect of the Notes and the Indenture pursuant to which the Notes are to be issued may be served. The Company may at any time
designate additional paying agents or rescind the designation of any paying agent or approve a change in the office through which
the paying agent acts.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Depository shall initially be DTC and any and all successors thereto appointed as Depository by the Company.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.03.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Registration</I>. (a) Each Global
Note will be registered in the name of the Depository or its nominee and, so long as DTC is serving as the Depository thereof,
will bear the DTC Legend.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Each
Global Note will be delivered to the Trustee as custodian for the Depository. Transfers of a Global Note (but not a beneficial
interest therein) will be limited to transfers thereof in whole, but not in part, to the Depository, its successors or their respective
nominees, except (y) as set forth in (iii) of this Section 2.03(a) and (z) transfers of portions thereof in the form of Certificated
Notes may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) by written notice given</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">to
the Trustee by or on behalf of the Depository in accordance with customary procedures of the Depository and in compliance with
this Section 2.03 and Section 2.04.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Agent
Members will have no rights under this Indenture with respect to any Global Note held on their behalf by the Depository, and the
Depository may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder
of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, the Depository or its nominee may grant proxies
and otherwise authorize any Person (including any Agent Member and any Person that holds a beneficial interest in a Global Note
through an Agent Member) to take any action which a Holder is entitled to take under this Indenture or the Notes, and nothing
herein will impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise
of the rights of a holder of any security.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If
(x) the Depository notifies the Company that it is unwilling or unable to continue as Depository for a Global Note and a successor
depositary is not appointed by the Company within 90 days of such notice or (y) an Event of Default has occurred and is continuing
and the Trustee has received a written request from the Depository, the Trustee will promptly exchange each beneficial interest
in the Global Note for one or more Certificated Notes in authorized denominations having an equal aggregate principal amount registered
in the name of the owner of such beneficial interest, as identified to the Trustee by the Depository, and thereupon the Global
Note will be deemed canceled.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Each
Certificated Note will be registered in the name of the Holder thereof or its nominee.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.04.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Transfer and Exchange</I>. (a) The
transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this Section 2.04 and,
in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of the Depository. The Security
Registrar shall refuse to register any requested transfer or exchange that does not comply with the preceding sentence.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Trustee will retain copies of all certificates, opinions and other documents received in connection with the transfer or exchange
of a Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable
time upon written notice to the Trustee.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.05.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Terms of the Notes</I>. The following
terms relating to the Notes are hereby established:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Title</I>.
The Notes shall constitute a series of Securities having the title &ldquo;4.500% Senior Notes due 2048.&rdquo;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Principal
Amount</I>. The aggregate principal amount of the Notes that may be initially authenticated and delivered under the Indenture
shall be $500,000,000. The Company may from time to time, without the consent of the Holders of Notes, issue additional Notes
(in any such case &ldquo;<B>Additional Notes</B>&rdquo;) having the same ranking and the same interest rate, maturity and other
terms as the Notes, except for the issue date, the public offering price and, in some</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">cases,
the first Interest Payment Date and interest accrual date; <I>provided</I> that no Event of Default with respect to the Notes
shall have occurred and be continuing; <I>provided</I> further that if any such Additional Notes are not fungible with the Notes
initially issued hereunder for U.S. federal income tax purposes, such Additional Notes shall have a separate CUSIP number. Any
Additional Notes and the existing Notes will constitute a single series under the Indenture and all references to the relevant
Notes shall include the Additional Notes unless the context otherwise requires.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Maturity
Date</I>. The entire outstanding principal of the Notes shall be payable on May 15, 2048.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Interest
Rate</I>. The rate at which the Notes shall bear interest shall be 4.500% per annum; the date from which interest shall accrue
on the Notes shall be May 17, 2018, or the most recent Interest Payment Date to which interest has been paid or provided for;
the Interest Payment Dates for the Notes shall be May 15 and November 15 of each year, beginning November 15, 2018; the interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid, in immediately available funds,
to the Persons in whose names the Notes (or one or more predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, which shall be the May 1 or November 1, as the case may be, next preceding such Interest
Payment Date (whether or not a Business Day); <I>provided</I> that interest payable at the Stated Maturity or upon redemption
will be paid to the person to whom principal is payable. Payment of principal and interest on the Notes will be made at the Corporate
Trust Office of the Trustee or such other office or agency of the Company as may be designated for such purpose, in such currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts; <I>provided,
however</I>, that each installment of interest and principal on the Notes may at the Company&rsquo;s option be paid in immediately
available funds by transfer to an account maintained by the payee located in the United States of America.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Currency</I>.
The currency of denomination of the Notes is United States Dollars. Payment of principal of and interest and premium, if any,
on the Notes will be made in United States Dollars.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.06.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Optional Redemption</I>. (a) On or
after November 15, 2047, the Company may redeem the Notes, at its option, at any time in whole, or from time to time in part,
at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the
Optional Redemption Date.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Prior
to November 15, 2047, the Company may redeem the Notes, at its option, at any time in whole, or from time to time in part, at
a Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed or (2) the sum of the
present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed, exclusive of interest
accrued to the Optional Redemption Date, assuming that the Notes matured on November 15, 2047, discounted to the Optional Redemption
Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus
25 basis points, plus, in each case, accrued and unpaid interest to the Optional Redemption Date.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Treasury Rate shall be calculated on the third Business Day preceding the Optional Redemption Date. The Company shall calculate
the Redemption Price with respect to the Notes in accordance with the terms and provisions of this Indenture.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">On
and after the Optional Redemption Date for the Notes, interest will cease to accrue on the Notes or any portion thereof called
for redemption, unless the Company defaults in the payment of the redemption price. On or before the Optional Redemption Date
for the Notes, the Company will deposit with a Paying Agent, or the Trustee, funds sufficient to pay the redemption price of and
accrued and unpaid interest on the Notes to be redeemed on such date. If less than all of the Notes are to be redeemed, the Trustee
shall select in accordance with the procedures of DTC, not more than 60 days prior to the Optional Redemption Date the Notes or
portions of the Notes to be redeemed. The Trustee may select for redemption Notes and portions of Notes in amounts of $1,000 and
integral multiples of $1,000 in excess thereof, <I>provided</I> that the unredeemed portion of any Note to be redeemed in part
will not be less than $2,000, and shall thereafter promptly notify the Company in writing of the numbers of Notes to be redeemed,
in whole or in part.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Notice
of redemption shall be delivered not less than 15 nor more than 60 days prior to the Optional Redemption Date, to each Holder
of Notes to be redeemed, at his address appearing in the Security Register.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
2.07.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Offer to Repurchase Upon a Change
of Control Triggering Event</I>. (a)&nbsp;Upon the occurrence of a Change of Control Triggering Event, unless the Company has
exercised its right to redeem all of the Notes pursuant to Section 2.06 hereof, each Holder shall have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder&rsquo;s
Notes pursuant to the offer described below (the &ldquo;<B>Change of Control Offer</B>&rdquo;) on the terms set forth in the Notes
at a purchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus accrued and unpaid interest,
if any, to the date of purchase (the &ldquo;<B>Change of Control Payment</B>&rdquo;), pursuant to and in accordance with the offer
described in this Section 2.07.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Within
30 days following any Change of Control Triggering Event, the Company shall deliver a notice to each Holder of Notes, with a written
copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">a
description of the transaction or transactions that constitute the Change of Control Triggering Event;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
the Change of Control Offer is being made pursuant to this Section 2.07 and that all Notes validly tendered will be accepted for
payment;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
the Change of Control Payment and the &ldquo;Change of Control Payment Date,&rdquo; which shall be a Business Day that is no earlier
than 30 days nor later than 60 days from the date such notice is mailed, other than as may be required by law;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
any Note not tendered will continue to accrue interest;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control
Payment Date unless the Company shall default in the payment of the Change of Control Payment of the Notes and the only remaining
right of the Holder is to receive payment of the Change of Control Payment upon surrender of the Notes to the Paying Agent;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
Holders electing to have a portion of a Note purchased pursuant to a Change of Control Offer may only elect to have such Note
purchased in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
if a Holder elects to have a Note purchased pursuant to the Change of Control Offer it will be required to surrender the Note,
with the form entitled &ldquo;Option of Holder to Elect Purchase&rdquo; on the reverse of the Note completed, or transfer by book-
entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business
Day prior to the Change of Control Payment Date;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
a Holder will be entitled to withdraw its election if the Company receives, not later than the close of business on the third
Business Day prior to the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the
name of such Holder, the principal amount of Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing
its election to have such Note purchased; and</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">that
if Notes are purchased only in part a new Note of the same type will be issued in a principal amount equal to the unpurchased
portion of the Notes surrendered.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">On
the Change of Control Payment Date, the Company shall, to the extent lawful:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">accept
for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">deposit
with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof properly tendered;
and</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">deliver
or cause to be delivered for cancellation to the Trustee the Notes properly accepted, together with an Officers&rsquo; Certificate
stating the aggregate principal amount of Notes or portions thereof being purchased by the Company.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Paying Agent shall promptly mail to each Holder of Notes properly tendered the Change of Control Payment for the Notes, and the
Trustee, upon receipt of a Company Request, shall promptly authenticate and mail (or cause to be transferred by book-entry) to
each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered by such Holder, if any; <I>provided
</I>that each new Note will be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">and
regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event.
To the extent that the provisions of any securities laws or regulations conflict with this Section 2.07, the Company will comply
with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section
2.07 by virtue of such conflicts.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Notwithstanding
the foregoing, the Company will not be required to make an offer to repurchase the Notes upon a Change of Control Triggering Event
if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer
made by the Company herein and such third party purchases all the Notes properly tendered and not withdrawn under its offer.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Article
3</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">SUPPLEMENTAL INDENTURE</FONT></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
3.01.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Supplemental Indentures Without Consent
of Holders</I>. Without the consent of any Holders, the Company, when authorized by a Board Resolution, the Guarantor and the
Trustee (at the direction of the Company) at any time and from time to time, may enter into one or more indentures supplemental
hereto for any of the purposes set forth in Section 10.01 of the Indenture and, in addition for the following purpose: to conform
any provision of the Indenture, the Fourth Supplemental Indenture or the Notes to the &ldquo;Description of Notes&rdquo; appearing
in the Company&rsquo;s prospectus dated May 3, 2018 pursuant to which the Notes were originally sold, as filed with the Commission.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Article
4</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">GUARANTEE</FONT></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
4.01.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Release of Guarantor from Guarantee</I>.
Section 12.07(a) of the Indenture shall be amended by replacing that section of the Indenture with the following, but only with
respect to the Notes:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Guarantee by the Guarantor shall terminate and be of no further force or effect and the Guarantor shall be deemed to be released
from all obligations upon:</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the
sale or other disposition (including by way of consolidation or merger) of the Guarantor, other than to the Company or a Subsidiary
of the Company and as permitted by this Indenture;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the
sale or disposition of all or substantially all the assets of the Guarantor, other than to the Company or a Subsidiary of the
Company and as permitted by this Indenture;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the
Company&rsquo;s exercise of its option under Section 11.03 or Section 11.04 or if the Company&rsquo;s obligations under this Indenture
are discharged in accordance with the terms of this Indenture; or</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">at
such time as the Guarantor ceases to guarantee Debt, other than a discharge through payment thereon, under any Credit Facility
of the Company, other than</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">any
such Credit Facility of the Company the guarantee of which by the Guarantor will be released concurrently with the release of
the Guarantor&rsquo;s guarantee of the Notes.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Article
5</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="font-size: 10pt">MISCELLANEOUS</FONT></FONT></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.01.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Trust Indenture Act Controls</I>.
If any provision of this Fourth Supplemental Indenture limits, qualifies or conflicts with another provision which is required
to be included in this Fourth Supplemental Indenture by the Trust Indenture Act, the required provision shall control. If any
provision of this Fourth Supplemental Indenture modifies or excludes any provision of the Trust Indenture Act which may be so
modified or excluded, the latter provision shall be deemed to apply to this Fourth Supplemental Indenture as so modified or to
be excluded, as the case may be.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.02.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Governing Law</I>. This Fourth Supplemental
Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any other jurisdiction.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.03.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Payment of Notes</I>. Payments in
respect of the Notes represented by the Global Notes are to be made by wire transfer of immediately available funds to the accounts
specified by the Holders of the Global Notes. With respect to Certificated Notes, the Company will make all payments through the
Paying Agent by mailing a check to each Holder&rsquo;s registered address; <I>provided, however</I>, that payments may also be
made, in the case of a Holder of at least $1.0 million aggregate principal amount of Notes, by wire transfer to the account specified
by the Holder thereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.04.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Multiple Counterparts</I>. The parties
may sign multiple counterparts of this Fourth Supplemental Indenture. Each signed counterpart shall be deemed an original, but
all of them together represent one and the same Fourth Supplemental Indenture.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.05.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Severability</I>. Each provision of
this Fourth Supplemental Indenture shall be considered separable and if for any reason any provision which is not essential to
the effectuation of the basic purpose of this Fourth Supplemental Indenture or the Notes shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and
a Holder shall have no claim therefor against any party hereto.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.06.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Relation to Indenture</I>. This Fourth
Supplemental Indenture constitutes a part of the Indenture, the provisions of which (as modified by this Fourth Supplemental Indenture)
shall apply to the series of Securities established by this Fourth Supplemental Indenture but shall not modify, amend or otherwise
affect the Indenture insofar as it relates to any other series of Securities or modify, amend or otherwise affect in any manner
the terms and conditions of the Securities of any other series.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.07.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Ratification</I>. The Indenture, as
supplemented and amended by this Fourth Supplemental Indenture, is in all respects ratified and confirmed. The Indenture and this
Fourth Supplemental Indenture shall be read, taken and construed as one and the same instrument. All</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">provisions
included in this Fourth Supplemental Indenture supersede any conflicting provisions included in the Indenture unless not permitted
by law. The Trustee accepts the trusts created by the Indenture, as supplemented by this Fourth Supplemental Indenture, and agrees
to perform the same upon the terms and conditions of the Indenture, as supplemented by this Fourth Supplemental Indenture.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.08.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Effectiveness</I>. The provisions
of this Fourth Supplemental Indenture shall become effective as of the date hereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #010000">Section
5.09.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Trustee Not Responsible for Recitals
or Issuance of Securities</I>. The recitals contained herein and in the Notes, except the Trustee&rsquo;s certificates of authentication,
shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or sufficiency of this Fourth Supplemental Indenture or of
the Notes. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Notes
or the proceeds thereof.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">[<I>remainder
of page intentionally left blank; signature pages follow</I>]</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IN
WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be duly executed as of the date first above
written.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">S&amp;P GLOBAL INC.</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/
    Edward J. Haran</I> </FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Edward
    J. Haran</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SVP
    &amp; Treasurer</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">STANDARD &amp; POOR&rsquo;S FINANCIAL
    SERVICES LLC, as Guarantor</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/
    John Berisford</I> </FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">John
    Berisford</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">President</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">U.S. BANK NATIONAL ASSOCIATION,</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">as Trustee&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>/s/
    Steven V. Vaccarello</I> </FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Steven
    V. Vaccarello</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Vice
    President</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</FONT></P>




<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 396pt; text-indent: -27.35pt"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 243.35pt; text-indent: -27.35pt"></P>


<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 20.9pt 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>EXHIBIT
A</U></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 20.9pt 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">[FORM
OF 4.500% SENIOR NOTES DUE 2048]</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>S&amp;P
GLOBAL INC. </B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4.500%
SENIOR NOTE DUE 2048 </B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Fully
and Unconditionally Guaranteed by </B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Standard
&amp; Poor&rsquo;s Financial Services LLC </B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Principal
Amount: $500,000,000</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">No.
A-1</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CUSIP:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">78409V AN4</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ISIN:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">US78409VAN47</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">S&amp;P
GLOBAL INC., a New York corporation (herein called the &ldquo;<B>Company,</B>&rdquo; which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede &amp; Co., or registered assigns,
the principal sum of $500,000,000 on May 15, 2048 (the &ldquo;<B>Maturity Date</B>&rdquo;) (except to the extent redeemed or repaid
prior to the Maturity Date) and to pay interest thereon from May 17, 2018 (the &ldquo;<B>Original Issue Date</B>&rdquo;) or from
the most recent Interest Payment Date to which interest has been paid or duly provided for semi-annually at the rate of 4.500%
per annum, on May 15 and November 15 (each such date, an &ldquo;<B>Interest Payment Date</B>&rdquo;), commencing November 15,
2018, until the principal hereof is paid or made available for payment.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Payment
of Interest</I>. The interest so payable, and punctually paid or made available for payment, on any Interest Payment Date, will,
as provided in the Indenture, be paid, in immediately available funds, to the Person in whose name this Note (or one or more predecessor
securities) is registered at the close of business on May 1 or November 1 (whether or not a Business Day, as defined in the Indenture),
as the case may be, next preceding such Interest Payment Date (the &ldquo;<B>Regular Record Date</B>&rdquo;). Any such interest
not punctually paid or duly provided for (&ldquo;<B>Defaulted Interest</B>&rdquo;) will forthwith cease to be payable to the Holder
on such Regular Record Date, and such Defaulted Interest, may be paid to the Person in whose name this Note (or one or more Predecessor
Securities) is registered at the close of business on a special record date (the &ldquo;<B>Special Record Date</B>&rdquo;) for
the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less
than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with requirements
of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as
more fully provided in said Indenture.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Place
of Payment</I>. Payment of principal, premium, if any, and interest on this Note will be made at the Corporate Trust Office of
the Trustee or such other office or agency of the Company as may be designated for such purpose, in such currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts; <I>provided, however</I>,
that each installment of interest, premium, if any, and principal on this Note may at the Company&rsquo;s option be paid in immediately
available funds by transfer to an account maintained by the payee located in the United States of America.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Time
of Payment</I>. In any case where any Interest Payment Date, the Maturity Date or any date fixed for redemption or repayment of
the Notes shall not be a Business Day, then (notwithstanding any other provision of the Indenture or this Note), payment of principal
or interest, if any, need not be made on such date, but may be made on</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 17; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the
next succeeding Business Day with the same force and effect as if made on such Interest Payment Date, the Maturity Date or the
date so fixed for redemption or repayment, and no interest shall accrue in respect of the delay.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>General</I>.
This Note is one of a duly authorized issue of Securities of the Company, issued and to be issued in one or more series under
an indenture (the &ldquo;<B>Base Indenture</B>&rdquo;), dated as of May 26, 2015, among the Company, Standard &amp; Poor&rsquo;s
Financial Services LLC, as Guarantor, and U.S. Bank National Association (herein called the &ldquo;<B>Trustee</B>,&rdquo; which
term includes any successor Trustee under the Indenture with respect to a series of which this Note is a part), as supplemented
by a Fourth Supplemental Indenture thereto, dated as of May 17, 2018 (the &ldquo;<B>Fourth Supplemental Indenture</B>&rdquo; and,
together with the Base Indenture, the &ldquo;<B>Indenture</B>&rdquo;), among the Company, the Guarantor party thereto and the
Trustee. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities, and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Note is one of a duly authorized series of Securities designated
as &ldquo;<B>4.500% Senior Notes due 2048</B>&rdquo; (collectively, the &ldquo;<B>Notes</B>&rdquo;), initially limited in aggregate
principal amount to $500,000,000.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Further
Issuance</I>. The Company may from time to time, without the consent of the Holders of the Notes, issue additional Securities
(the &ldquo;<B>Additional Securities</B>&rdquo;) of this series having the same ranking and the same interest rate, maturity and
other terms as the Notes. Any Additional Securities of this series and the Notes will constitute a single series under the Indenture
and all references to the Notes shall include the Additional Securities unless the context otherwise requires; <I>provided</I>
that if any such Additional Securities are not fungible with the Notes for U.S. federal income tax purposes, such Additional Securities
shall have a separate CUSIP number.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Events
of Default</I>. If an Event of Default with respect to the Notes shall have occurred and be continuing, the principal of the Notes
may be declared due and payable in the manner and with the effect provided in the Indenture.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Sinking
Fund</I>. The Notes are not subject to any sinking fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Redemption
and Repurchase</I>. The Notes are subject to optional redemption, and may be the subject of an offer to purchase upon the occurrence
of a Change of Control Triggering Event, as further described in the Indenture. There is no sinking fund or mandatory redemption
applicable to the Notes.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Restrictive
Covenants</I>. The Indenture contains certain covenants that, among other things, limit the ability of the Company and its Subsidiaries
to create liens or the ability of the Company to consolidate, merge or sell, transfer or lease all or substantially all of its
assets.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Defeasance
and Covenant Defeasance</I>. The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of the
Company on this Note and (b) certain restrictive covenants and the related Defaults and Events of Default, upon compliance by
the Company with certain conditions set forth therein, which provisions apply to this Note.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Modification
and Waivers; Obligations of the Company Absolute</I>. The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities
of each series. Such amendment may be effected under the Indenture at any time by the Company and the Trustee with, except as
stated therein, the consent of the Holders of not less than a majority in aggregate principal amount of the outstanding Notes
of each series affected thereby. The Indenture also contains provisions permitting the Holders of not less than a majority in
aggregate principal amount of the Securities at the time outstanding, on behalf of the Holders of all outstanding Securities,
to waive compliance by the Company with certain provisions of the Indenture. Furthermore, provisions in the Indenture permit the
Holders of not less than a majority in aggregate principal amount of the outstanding Securities of individual series to waive
on behalf of all of the Holders of Securities of such individual series certain past defaults under the Indenture and their consequences.
Any such consent or waiver shall be conclusive and binding upon the Holder of this Note and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation
of such consent or waiver is made upon this Note.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">No
reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place, and rate,
and in the currency, herein prescribed.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Guarantee</I>.
This Note will be entitled to the benefits of a Guarantee made for the benefit of the Holders. Reference is hereby made to the
Indenture for a statement of the respective rights, limitations of rights, Guarantee release provisions, duties and obligations
thereunder of the Guarantor, the Trustee and the Holders.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>No
Recourse Against Others</I>. No director, officer, agent, employee, incorporator, stockholder, partner, member, or manager of
the Company or the Guarantor shall have any liability for any obligations of the Company or the Guarantor under any Notes, the
Indenture or the Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each
Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration
for issuance of the Notes.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Limitation
on Suits</I>. As set forth in, and subject to, the provisions of the Indenture, no Holder of any Note will have any right to institute
any proceeding with respect to the Indenture or for any remedy thereunder, unless such Holder shall have previously given to the
Trustee written notice of a continuing Event of Default with respect to this series, the Holders of not less than 25% in principal
amount of the outstanding Notes shall have made written request, and offered indemnity satisfactory to the Trustee to institute
such proceedings as Trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of the
outstanding Notes a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days;
<I>provided, however</I>, that such limitations do not apply to a suit instituted by the Holder hereof for the enforcement of
payment of the principal of or interest on this Note on or after the respective due dates expressed herein.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Authorized
Denominations</I>. The Notes are issuable only in registered form without coupons in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Registration
of Transfer or Exchange</I>. As provided in the Indenture and subject to certain limitations herein and therein set forth, the
transfer of this Note is registrable in the register of the Notes maintained by the Security Registrar upon surrender of this
Note for registration of transfer, at the office or agency of the Company in any place where the principal of and interest on
this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the Security Registrar, duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee
or transferees.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
provided in the Indenture and subject to certain limitations herein and therein set forth, the Notes are exchangeable for a like
aggregate principal amount of Notes of different authorized denominations, as requested by the Holders surrendering the same.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Prior
to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Holder as the owner hereof for all purposes (except with respect to certain payments of Defaulted Interest), whether
or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Defined
Terms</I>. All terms used in this Note, which are defined in the Indenture and are not otherwise defined herein, shall have the
meanings assigned to them in the Indenture.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Governing
Law</I>. This Note shall be governed by and construed in accordance with the laws of the State of New York.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Unless
the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled
to any benefit under the Indenture or be valid or obligatory for any purpose.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>[remainder
of page intentionally left blank] </I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed and its seal to be hereunto affixed and attested.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dated:
May 17, 2018</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">S&amp;P GLOBAL INC.</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 38%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt"></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Attest:</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt"></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
</TABLE>
<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: normal 10pt Arial, Helvetica, Sans-Serif">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">TRUSTEE&rsquo;S
CERTIFICATE OF AUTHENTICATION</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This
is one of the Securities of the series designated therein referred to in the within-mentioned Indenture, as such is supplemented
by the within-mentioned Fourth Supplemental Indenture.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dated:
May 17, 2018</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">U.S.
BANK NATIONAL ASSOCIATION</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">as Trustee</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 38%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt"></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 3in"></P>


<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ASSIGNMENT
FORM</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">I or we assign and transfer this Note to</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><!-- Field: Rule-Page --></FONT><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.75pt solid; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(Print or type name, address and zip code of
    assignee or transferee)</FONT></TD></TR>
<TR>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(Insert Social Security or other identifying
    number of assignee or transferee)</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">and irrevocably appoint agent to transfer this
    Note on the books of the Company. The agent may substitute another to act for him.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 41%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 44%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dated:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Signed:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(Sign
    exactly as name appears on the other side of this Note)</FONT></TD></TR>
<TR>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Signature
    Guarantee:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Participant
    in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)</FONT></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 20.9pt 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>EXHIBIT
B</U></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 20.9pt 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">[DTC
LEGEND]</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&ldquo;DTC&rdquo;),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE &amp; CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &amp; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &amp; CO., HAS
A BENEFICIAL INTEREST HEREIN.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">TRANSFERS
OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE &amp; CO. OR TO A SUCCESSOR THEREOF
OR SUCH SUCCESSOR&rsquo;S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH
THE TRANSFER PROVISIONS OF THE INDENTURE.</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 24; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>4
<FILENAME>dp91030_ex05.htm
<DESCRIPTION>EXHIBIT 5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Exhibits 5
and 23</B></FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 69%; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="white-space: nowrap; width: 20%; font-size: 10pt; font-weight: bold">New York<BR>
Northern California<BR>
Washington DC<BR>
S&atilde;o Paulo<BR>
London</TD>
    <TD NOWRAP STYLE="width: 11%; font-size: 10pt; font-weight: bold">Paris<BR>
Madrid<BR>
Tokyo<BR>
Beijing<BR>
Hong Kong</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><IMG SRC="image_002.jpg" ALT="DavisPolk" STYLE="height: 30px; width: 155px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72%"></TD>
    <TD STYLE="width: 28%; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Davis Polk &amp; Wardwell <FONT STYLE="font-size: 10pt">LLP</FONT></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">450 Lexington Avenue<BR>
        New York, NY 10017</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="width: 47%">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">212 450 4000 tel</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">212 701 5800 fax</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 28%; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt">May 17, 2018</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">S&amp;P Global Inc.<BR>
55 Water Street<BR>
New York, New York 10041</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">S&amp;P Global Inc., a New York corporation (the &ldquo;<B>Company</B>&rdquo;),
and Standard &amp; Poor&rsquo;s Financial Services LLC, a Delaware limited liability company, as guarantor (the &ldquo;<B>Guarantor</B>&rdquo;),
have filed with the Securities and Exchange Commission a Registration Statement on Form S-3 (File No. 333-224198) (the &ldquo;<B>Registration
Statement</B>&rdquo;) for the purpose of registering under the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;),
certain securities, including $500,000,000 aggregate principal amount of the Company&rsquo;s 4.500% senior notes due 2048 (the
&ldquo;<B>Notes</B>&rdquo;). The Notes are to be issued pursuant to the provisions of the Indenture dated as of May 26, 2015, as
supplemented by the Fourth Supplemental Indenture thereto dated as of May 17, 2018 (collectively, the &ldquo;<B>Indenture</B>&rdquo;)
among the Company, the Guarantor and U.S. Bank National Association, as trustee. The Notes will be guaranteed by the Guarantor
(the &ldquo;<B>Guarantee</B>&rdquo; and, together with the Notes, the &ldquo;<B>Securities</B>&rdquo;). The Securities are to be
sold pursuant to the Underwriting Agreement dated May 3, 2018 (the &ldquo;<B>Underwriting Agreement</B>&rdquo;) among the Company
and the several underwriters named therein (the &ldquo;<B>Underwriters</B>&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We, as your counsel, have examined originals or copies of such
documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable for
the purpose of rendering this opinion.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In rendering the opinion expressed herein, we have, without independent
inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents
submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents that we reviewed are
genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates
of public officials and officers of the Company and the Guarantor that we reviewed were and are accurate and (vi) all representations
made by the Company and the Guarantor as to matters of fact in the documents that we reviewed were and are accurate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Based upon the foregoing, and subject to the additional assumptions
and qualifications set forth below, we advise you that, in our opinion, when the Notes have been duly executed and authenticated
in accordance with the provisions of the Indenture and delivered to and paid for by</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">the Underwriters pursuant to the Underwriting
Agreement, the Notes and the Guarantee will constitute valid and binding obligations of the Company and the Guarantor,
respectively, in each case enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and
similar laws affecting creditors&rsquo; rights generally, concepts of reasonableness and equitable principles of general
applicability, provided that we express no opinion as to (x) the enforceability of any waiver of rights under any usury or
stay law, (y) (i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the
conclusions expressed above or (ii) any provision of the Indenture that purports to avoid the effect of fraudulent
conveyance, fraudulent transfer or similar provision of applicable law by limiting the amount of any Guarantor&rsquo;s
obligation, or (z) the validity, legally binding effect or enforceability of any provision that permits holders to collect
any portion of stated principal amount upon acceleration of the Securities to the extent determined to constitute unearned
interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In connection with the opinion expressed above, we have assumed
that the Indenture and the Securities (collectively, the &ldquo;<B>Documents</B>&rdquo;) are valid, binding and enforceable agreements
of each party thereto (other than as expressly covered above in respect of the Company and the Guarantor). We have also assumed
that the execution, delivery and performance by each party to each Document to which it is a party (a) are within its corporate
powers, (b) do not contravene, or constitute a default under, the certificate of incorporation or bylaws or other constitutive
documents of such party, (c) require no action by or in respect of, or filing with, any governmental body, agency or official and
(d) do not contravene, or constitute a default under, any provision of applicable law or regulation or any judgment, injunction,
order or decree or any agreement or other instrument binding upon such party, provided that we make no such assumption to the extent
that we have specifically opined as to such matters with respect to the Company and the Guarantor.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We are members of the Bar of the State of New York and the foregoing
opinion is limited to the laws of the State of New York and the Delaware Limited Liability Company Act, except that we express
no opinion as to any law, rule or regulation that is applicable to the Company or the Guarantor, the Documents or such transactions
solely because such law, rule or regulation is part of a regulatory regime applicable to any party to any of the Documents or any
of its affiliates due to the specific assets or business of such party or such affiliate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We hereby consent to the filing of this opinion as an exhibit
to a report on Form 8-K to be filed by the Company on the date hereof and its incorporation by reference into the Registration
Statement and further consent to the reference to our name under the caption &ldquo;Legal Matters&rdquo; in the prospectus supplement
which is a part of the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose
consent is required under Section 7 of the Securities Act.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">/s/ DAVIS POLK &amp; WARDWELL LLP</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <!-- Field: /Page -->



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  > )L# 2(  A$! Q$!_\0
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=I/%M<D0[%*[#U0GTKLZYJO(Y7CL=E'G4;3W/_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
