<SEC-DOCUMENT>0001104659-24-048135.txt : 20240417
<SEC-HEADER>0001104659-24-048135.hdr.sgml : 20240417
<ACCEPTANCE-DATETIME>20240417092520
ACCESSION NUMBER:		0001104659-24-048135
CONFORMED SUBMISSION TYPE:	8-A12B
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240417
DATE AS OF CHANGE:		20240417

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFA FINANCIAL, INC.
		CENTRAL INDEX KEY:			0001055160
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				133974868
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-A12B
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13991
		FILM NUMBER:		24849484

	BUSINESS ADDRESS:	
		STREET 1:		350 PARK AVENUE
		STREET 2:		20TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2122076400

	MAIL ADDRESS:	
		STREET 1:		350 PARK AVE
		STREET 2:		20TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MFA MORTGAGE INVESTMENTS
		DATE OF NAME CHANGE:	20020809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICA FIRST MORTGAGE INVESTMENTS INC
		DATE OF NAME CHANGE:	19980211
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-A12B
<SEQUENCE>1
<FILENAME>tm2412024d1_8a12b.htm
<DESCRIPTION>8-A12B
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-A</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION&nbsp;12(b)&nbsp;OR 12(g)&nbsp;OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

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

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MFA FINANCIAL,&nbsp;INC.</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center; width: 49%"><B>Maryland</B></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center; width: 49%"><B>13-3974868</B></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(State of incorporation or organization)</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer Identification No.)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: center; padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center; vertical-align: top; padding: 0.25pt"><B>One Vanderbilt Ave., 48th Floor<BR>
</B> <B>New York, New York</B></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: bottom; font-size: 10pt; text-align: center"><B>10017</B></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Address of Principal Executive Offices of Registrant)</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Zip Code)</B></FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities to be registered pursuant to Section&nbsp;12(b)&nbsp;of
the Act:</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; white-space: nowrap; padding: 0.25pt; width: 49%"><B>Title of Each Class</B> <B><BR>
to be so Registered</B></TD>
    <TD STYLE="text-align: center; padding: 0.25pt; width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; padding: 0.25pt; width: 49%"><B>Name of Each Exchange on Which<BR>
</B> <B>Each Class&nbsp;is to be Registered</B></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><B>9.000% Senior Notes due 2029</B></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><B>New York Stock Exchange</B></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this form relates to the registration of a class of securities pursuant
to Section&nbsp;12(b)&nbsp;of the Exchange Act and is effective pursuant to General Instruction A.(c)&nbsp;or (e), check the following
box. <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this form relates to the registration of a class of securities pursuant
to Section&nbsp;12(g)&nbsp;of the Exchange Act and is effective pursuant to General Instruction A.(d)&nbsp;or (e), check the following
box. <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this form relates to the registration of a class of securities concurrently
with a Regulation A offering, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Act registration statement file
number to which this form relates:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>333-267632</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities to be registered pursuant to Section&nbsp;12(g)&nbsp;of
the Act:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>None.</B></P>

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

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

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN REGISTRATION STATEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 1. DESCRIPTION OF REGISTRANT&rsquo;S SECURITIES TO BE REGISTERED.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MFA Financial,&nbsp;Inc. (the &ldquo;Registrant&rdquo;), has filed
with the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) pursuant to Rule&nbsp;424(b)&nbsp;under the Securities
Act of 1933, as amended, a prospectus supplement dated April&nbsp;15, 2024 (the &ldquo;Prospectus Supplement&rdquo;) to the prospectus
dated September&nbsp;27, 2022 (the &ldquo;Base Prospectus&rdquo; and, collectively with the Prospectus Supplement, the &ldquo;Prospectus&rdquo;)
contained in the Registrant&rsquo;s effective Registration Statement on Form&nbsp;S-3 (Registration No.&nbsp;333-267632), relating to
the Registrant&rsquo;s 9.000% Senior Notes due 2029 (the &ldquo;Notes&rdquo;) to be registered hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this item is incorporated by reference
to the information contained and incorporated by reference in the sections captioned &ldquo;Description of the Notes&rdquo; and &ldquo;Description
of Debt Securities&rdquo; in the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 2. EXHIBITS.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; vertical-align: top">Exhibit <BR>
No.</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">Description</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; width: 8%; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/0000897204-98-000100.txt" STYLE="-sec-extract: exhibit">3.1</A></TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 90%; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/0000897204-98-000100.txt" STYLE="-sec-extract: exhibit">Amended and Restated Articles of Incorporation of the Registrant, dated April&nbsp;8, 1998 (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated April&nbsp;24, 1998).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000091205702031630/a2087161zex-3_1.txt" STYLE="-sec-extract: exhibit">3.2</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000091205702031630/a2087161zex-3_1.txt" STYLE="-sec-extract: exhibit">Articles of Amendment to the Amended and Restated Articles of Incorporation of the Registrant, dated August&nbsp;5, 2002 (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated August&nbsp;13, 2002).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119380502000020/e200010_ex3-3.txt" STYLE="-sec-extract: exhibit">3.3</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119380502000020/e200010_ex3-3.txt" STYLE="-sec-extract: exhibit">Articles of Amendment to the Amended and Restated Articles of Incorporation of the Registrant, dated August&nbsp;13, 2002 (incorporated herein by reference to Exhibit&nbsp;3.3 to the Registrant&rsquo;s Form&nbsp;10-Q for the quarter ended September&nbsp;30, 2002).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119380508003457/e604827_ex3-1.htm" STYLE="-sec-extract: exhibit">3.4</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119380508003457/e604827_ex3-1.htm" STYLE="-sec-extract: exhibit">Articles of Amendment to the Amended and Restated Articles of Incorporation of the Registrant, dated December&nbsp;29, 2008 (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated December&nbsp;29, 2008).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119380510000034/e606229_ex3-1.htm" STYLE="-sec-extract: exhibit">3.5</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119380510000034/e606229_ex3-1.htm" STYLE="-sec-extract: exhibit">Articles of Amendment (Articles Supplementary) to the Amended and Restated Articles of Incorporation of the Registrant, dated January&nbsp;1, 2010 (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated January&nbsp;5, 2010).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000114420411014335/v214266_ex3-1.htm" STYLE="-sec-extract: exhibit">3.6</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000114420411014335/v214266_ex3-1.htm" STYLE="-sec-extract: exhibit">Articles Supplementary of the Registrant, dated March&nbsp;8, 2011 (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated March&nbsp;11, 2011).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000114420411032542/v224207_ex3-1.htm" STYLE="-sec-extract: exhibit">3.7</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000114420411032542/v224207_ex3-1.htm" STYLE="-sec-extract: exhibit">Articles of Amendment to the Amended and Restated Articles of Incorporation of the Registrant, dated May&nbsp;24, 2011 (incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated May&nbsp;26, 2011).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465922042317/tm2211108d1_ex3-1.htm" STYLE="-sec-extract: exhibit">3.8</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465922042317/tm2211108d1_ex3-1.htm" STYLE="-sec-extract: exhibit">Articles of Amendment to the Amended and Restated Articles of Incorporation of the Registrant, dated April&nbsp;4, 2022 (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated April&nbsp;4, 2022). </A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465922042317/tm2211108d1_ex3-2.htm" STYLE="-sec-extract: exhibit">3.9</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465922042317/tm2211108d1_ex3-2.htm" STYLE="-sec-extract: exhibit">Articles of Amendment to the Amended and Restated Articles of Incorporation of the Registrant, dated April&nbsp;4, 2022 (incorporated herein by reference to Exhibit&nbsp;3.2 to the Registrant&rsquo;s Form&nbsp;8-K, dated April&nbsp;4, 2022).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000095012304005028/y96604exv3w4.htm" STYLE="-sec-extract: exhibit">3.10</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000095012304005028/y96604exv3w4.htm" STYLE="-sec-extract: exhibit">Articles Supplementary of the Registrant, dated April&nbsp;22, 2004, designating the Registrant&rsquo;s 8.50% Series&nbsp;A Cumulative Redeemable Preferred Stock (incorporated herein by reference to Exhibit&nbsp;3.4 to the Registrant&rsquo;s Form&nbsp;8-A, dated April&nbsp;23, 2004).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000117494713000177/c341403_ex3-1.htm" STYLE="-sec-extract: exhibit">3.11</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000117494713000177/c341403_ex3-1.htm" STYLE="-sec-extract: exhibit">Articles Supplementary of the Registrant, dated April&nbsp;12, 2013, designating the Registrant&rsquo;s 7.50% Series&nbsp;B Cumulative Redeemable Preferred Stock (incorporated herein by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated April&nbsp;15, 2013).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000119312520056234/d872425dex310.htm" STYLE="-sec-extract: exhibit">3.12</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000119312520056234/d872425dex310.htm" STYLE="-sec-extract: exhibit">Articles Supplementary of the Registrant, dated February&nbsp;28, 2020, designating the Registrant&rsquo;s 6.50% Series&nbsp;C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (incorporated herein by reference to Exhibit&nbsp;3.10 to the Company&rsquo;s Registration Statement on Form&nbsp;8-A filed on February&nbsp;28, 2020).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001055160/000110465923048114/tm2313209d1_8k.htm" STYLE="-sec-extract: exhibit">3.13</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001055160/000110465923048114/tm2313209d1_8k.htm" STYLE="-sec-extract: exhibit">Amended and Restated Bylaws of the Registrant (as amended and restated through April&nbsp;18, 2023) (incorporated herein by reference to Exhibit&nbsp;3.1 to the Company&rsquo;s Form&nbsp;8-K, dated April&nbsp;21, 2023).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000105516024000005/exhibit41-descriptionofthe.htm" STYLE="-sec-extract: exhibit">4.1</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000105516024000005/exhibit41-descriptionofthe.htm" STYLE="-sec-extract: exhibit">Description of the Registrant&rsquo;s securities registered pursuant to Section&nbsp;12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit&nbsp;4.1 to the Registrant&rsquo;s Annual Report on Form&nbsp;10-K filed February&nbsp;22, 2024).</A></TD></TR>
</TABLE>

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

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt; width: 8%"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/0001047469-98-005382.txt" STYLE="-sec-extract: exhibit">4.2</A></TD><TD STYLE="font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt; width: 90%"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/0001047469-98-005382.txt" STYLE="-sec-extract: exhibit">Specimen of Common Stock Certificate of the Registrant (incorporated herein by reference to Exhibit&nbsp;4.1 to the Registrant&rsquo;s Registration Statement on Form&nbsp;S-4, dated February&nbsp;12, 1998).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000117494713000177/c341403_ex4-1.htm" STYLE="-sec-extract: exhibit">4.3</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000117494713000177/c341403_ex4-1.htm" STYLE="-sec-extract: exhibit">Specimen of certificate representing the 7.50% Series&nbsp;B Cumulative Redeemable Preferred Stock (incorporated herein by reference to Exhibit&nbsp;4.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated April&nbsp;15, 2013).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000119312520056234/d872425dex44.htm" STYLE="-sec-extract: exhibit">4.4</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000119312520056234/d872425dex44.htm" STYLE="-sec-extract: exhibit">Specimen of certificate representing the 6.50% Series&nbsp;C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. (incorporated herein by reference to Exhibit&nbsp;4.4 to the Company&rsquo;s Registration Statement on Form&nbsp;8-A filed on February&nbsp;28, 2020).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119312519163803/d757951dex41.htm" STYLE="-sec-extract: exhibit">4.7</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119312519163803/d757951dex41.htm" STYLE="-sec-extract: exhibit">Indenture, dated June&nbsp;3, 2019, between the Registrant and Wilmington Trust, National Association, as Trustee (incorporated herein by reference to Exhibit&nbsp;4.1 to the Registrant&rsquo;s Form&nbsp;8-K, dated June&nbsp;3, 2019 ).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119312519163803/d757951dex42.htm" STYLE="-sec-extract: exhibit">4.8</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119312519163803/d757951dex42.htm" STYLE="-sec-extract: exhibit">First Supplemental Indenture, dated June&nbsp;3, 2019, between the Registrant and Wilmington Trust, National Association, as Trustee (incorporated herein by reference to Exhibit&nbsp;4.2 to the Registrant&rsquo;s Form&nbsp;8-K, dated June&nbsp;3, 2019).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465924003184/tm243101d1_ex4-9.htm" STYLE="-sec-extract: exhibit">4.9</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465924003184/tm243101d1_ex4-9.htm" STYLE="-sec-extract: exhibit">Second Supplemental Indenture, dated January&nbsp;11, 2024, between the Registrant and Wilmington Trust, National Association, as Trustee (incorporated herein by reference to Exhibit&nbsp;4.9 to the Registrant&rsquo;s Form&nbsp;8-A, dated January&nbsp;11, 2024). </A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="tm2412024d1_ex4-10.htm" STYLE="-sec-extract: exhibit">4.10*</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="tm2412024d1_ex4-10.htm" STYLE="-sec-extract: exhibit">Third Supplemental Indenture, dated April&nbsp;17, 2024, between the Registrant and Wilmington Trust, National Association, as Trustee.</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; padding-left: 0.25pt; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119312519163803/d757951dex42.htm" STYLE="-sec-extract: exhibit">4.11</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1055160/000119312519163803/d757951dex42.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of 6.25% Convertible Senior Notes due 2024 (incorporated herein by reference to Exhibit&nbsp;4.3 to the Registrant&rsquo;s Form&nbsp;8-K, dated June&nbsp;3, 2019).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465924003184/tm243101d1_ex4-9.htm" STYLE="-sec-extract: exhibit">4.12</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1055160/000110465924003184/tm243101d1_ex4-9.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of 8.875% Senior Notes due 2029 (incorporated by reference to Exhibit&nbsp;4.11 to the Registrant&rsquo;s Form&nbsp;8-A, dated January&nbsp;11, 2024). </A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="tm2412024d1_ex4-10.htm">4.13*</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25pt"><A HREF="tm2412024d1_ex4-10.htm">Form&nbsp;of 9.000% Senior Notes due 2029 (attached as Exhibit&nbsp;A to the Third Supplemental Indenture, filed as Exhibit&nbsp;4.10 hereto). </A></TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT>* Filed herewith.</FONT></P>




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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of Section&nbsp;12 of the Securities Exchange
Act of 1934, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereto duly authorized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: April&nbsp;17, 2024</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt">MFA FINANCIAL,&nbsp;INC.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-indent: -10pt; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; width: 45%">/s/ Harold E. Schwartz</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt">Name:</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt">Harold E. Schwartz</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt">Title:</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt">Senior Vice President and&#8239;General Counsel</TD></TR>
  </TABLE>

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

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

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<DOCUMENT>
<TYPE>EX-4.10
<SEQUENCE>2
<FILENAME>tm2412024d1_ex4-10.htm
<DESCRIPTION>EXHIBIT 4.10
<TEXT>
<HTML>
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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0"><B>Exhibit 4.10</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&#8239;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MFA Financial,&#8239;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wilmington Trust, National Association</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of April&#8239;17, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of June&#8239;3, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>9.000% Senior Notes due 2029</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&#8239;</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&#8239;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&#8239;</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&#8239;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article&#8239;1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">DEFINITIONS
    AND OTHER PROVISIONS OF GENERAL APPLICATION</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;1.01</FONT></TD>
    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scope of Supplemental Indenture</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;1.02</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD STYLE="text-align: right">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article&#8239;2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">THE
    SECURITIES</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;2.01</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title and Terms; Payments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;2.02</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forms</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;2.03</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer and Exchange</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;2.04</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payments on the Securities</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD STYLE="text-align: right">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article&#8239;3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">REDEMPTION
    OF SECURITIES</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;3.01</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optional Redemption of the Securities</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;3.02</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Optional Redemption; Selection of Securities</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;3.03</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment of Securities Called for Redemption by the
    Company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;3.04</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Sinking Fund..</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD STYLE="text-align: right">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article&#8239;4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">REPURCHASE
    OF SECURITIES</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;4.01</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obligation to Offer to Repurchase Upon a Change of
    Control Repurchase Event</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;4.02</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities Purchased in Whole or in Part</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;4.03</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Covenant To Comply with Applicable Laws upon Purchase
    of Securities</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;4.04</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repayment to the Company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD STYLE="text-align: right">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article&#8239;5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">INFORMATION
    RIGHTS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;5.01</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information Rights</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;5.02</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Duty to Review</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#8239;</P>

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

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<P STYLE="margin: 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article&#8239;6</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">MISCELLANEOUS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.01</FONT></TD>
    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effect on Successors and Assigns</FONT></TD>
    <TD STYLE="text-align: right; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.02</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governing Law; Jurisdiction; Waiver of Jury Trial</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.03</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Security Interest Created</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.04</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trust Indenture Act</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.05</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benefits of Supplemental Indenture</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.06</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Calculations</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.07</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Execution in Counterparts</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.08</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notices</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.09</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ratification of Base Indenture</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.10</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Trustee</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&#8239;6.11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Recourse Against Others</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EXHIBIT<BR>
<U>Exhibit&#8239;A</U> Form&#8239;of Security</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRD SUPPLEMENTAL INDENTURE (this &ldquo;<B>Supplemental
Indenture</B>&rdquo;), dated as of April&#8239;17, 2024, between MFA Financial,&#8239;Inc., a Maryland corporation (the &ldquo;<B>Company</B>&rdquo;),
and Wilmington Trust, National Association (the &ldquo;<B>Trustee</B>&rdquo;), a national banking association organized under the laws
of the United States, as trustee under the Indenture dated as of June&#8239;3, 2019, between the Company and the Trustee (as amended
or supplemented from time to time in accordance with the terms thereof, the &ldquo;<B>Base Indenture</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS OF THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company executed and delivered the
Base Indenture to the Trustee to provide, among other things, for the issuance, from time to time, of the Company&rsquo;s unsecured senior
debt Securities, in an unlimited aggregate principal amount, in one or more series to be established by the Company under, and authenticated
and delivered as provided in, the Base Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, Section&#8239;901(4)&#8239;of the Base
Indenture provides for the Company and the Trustee to enter into supplemental indentures to the Base Indenture to establish the form
and terms of Securities of any series as contemplated by Articles Two and Three of the Base Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Board of Directors has duly adopted
resolutions authorizing the Company to execute and deliver this Supplemental Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, pursuant to the terms of the Base Indenture,
the Company has authorized the creation and issuance under this Supplemental Indenture of its 9.000% Senior Notes due 2029 (the &ldquo;<B>Securities</B>&rdquo;),
the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture
and this Supplemental Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, all requirements necessary to make (i)&#8239;this
Supplemental Indenture a valid instrument in accordance with its terms, and (ii)&#8239;the Securities, when executed by the Company and
authenticated and delivered by the Trustee, the valid obligations of the Company have been performed, and the execution and delivery
of this Supplemental Indenture have been duly authorized in all respects, and the Company has requested that the Trustee execute and
deliver this Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH,
for and in consideration of the premises and the purchases of the Securities by the Holders thereof, it is mutually agreed, for the benefit
of the Company and the equal and proportionate benefit of all Holders, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&#8239;1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;1.01</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Scope
of Supplemental Indenture</U>. The changes, modifications and supplements to the Base Indenture effected by this Supplemental Indenture
shall be applicable only with respect to, and shall govern only the terms of (and only the rights of the Holders and the obligations
of the Company with respect to), the Securities, which may be issued from time to time, and shall not apply to any other securities that
may be issued under the Base Indenture (or govern the rights of the Holders or the obligations of the Company with respect to any such
other securities) unless a supplemental indenture with respect to such other securities specifically incorporates such changes, modifications
and supplements. The provisions of this Supplemental Indenture shall, with respect to the Securities, supersede any corresponding provisions
in the Base Indenture. Subject to the preceding sentence, and except as otherwise provided herein, the provisions of the Base Indenture
shall apply to the Securities and govern the rights of the Holders of the Securities and the obligations of the Company and the Trustee
with respect thereto.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;1.02</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Definitions</U>.
For all purposes of the Indenture, except as otherwise expressly provided or unless the context otherwise requires:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
terms defined in this <U>Article&#8239;1</U> shall have the meanings assigned to them in this <U>Article&#8239;1</U> and include the
plural as well as the singular; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
words, terms and phrases defined in the Base Indenture (but not otherwise defined herein) shall have the same meanings as in the Base
Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Applicable Procedures</B>&rdquo; means,
with respect to any matter at any time, the policies and procedures of the Depository, if any, that are applicable to such matter at
such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Base Indenture</B>&rdquo; has the meaning
specified in the first paragraph of this Supplemental Indenture, as such instrument may be supplemented from time to time by one or more
indentures supplemental thereto, including this Supplemental Indenture, entered into pursuant to the applicable provisions of the Base
Indenture, including, for all purposes of the Base Indenture, this Supplemental Indenture and any such other supplemental indenture,
the provisions of the Trust Indenture Act that are deemed to be a part of and govern the Base Indenture, this Supplemental Indenture
and any other such supplemental indentures, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Business Day</B>&rdquo; means, notwithstanding
anything to the contrary in Section&#8239;101 of the Base Indenture, any day other than a Saturday, a Sunday or a day on which the Trustee
or the Federal Reserve Bank of New York is authorized or required by law, regulation or executive order to close or to be closed and,
when used with respect to payments, any day other than a Saturday, a Sunday or a day on which trust companies or banking institutions
in the place of payment are authorized or obligated by law, regulation or executive order to close or to be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Capital Stock</B>&rdquo; means, for
any Person, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests
in (however designated) the equity of such Person, but excluding any debt securities convertible into such equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Change of Control</B>&rdquo; means the
occurrence of the following: (a)&#8239;the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person
or group (within the meaning of the Exchange Act and the rules&#8239;of the Commission thereunder as in effect on the date hereof), of
Equity Interests representing more than 50% of the aggregate Ordinary Voting Power of our issued and outstanding Equity Interests; (b)&#8239;occupation
of a majority of the seats (other than vacant seats) on our board of directors by Persons who were neither (i)&#8239;nominated by our
board of directors nor (ii)&#8239;appointed by our board of directors; or (c)&#8239;the acquisition of direct or indirect Control of
us by any Person or group (within the meaning of the Exchange Act and the rules&#8239;of the Commission thereunder as in effect on the
date of the closing of the offering of the Securities) not in Control of the Company on the date of the closing of the offering of the
Securities; <I>provided that</I>, for the purposes of this definition, no Change of Control shall be deemed to occur by reason of the
Company becoming a wholly owned Subsidiary of a Successor Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Change of Control Repurchase Event</B>&rdquo;
means the occurrence of a Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Close of Business</B>&rdquo; means 5:00
p.m., New York City time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Commission</B>&rdquo; means the Securities
and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Company</B>&rdquo; has the meaning specified
in the first paragraph of this Supplemental Indenture, and subject to the provisions of Section&#8239;801 of the Base Indenture, shall
include its successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Control</B>&rdquo; means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the
ability to exercise voting power, by contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Custodian</B>&rdquo; means the Trustee,
as custodian with respect to the Securities (so long as the Securities constitute Global Securities), or any successor entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Default</B>&rdquo; means any event that
is, or with the passage of time or the giving of notice or both would be, an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Equity Interests</B>&rdquo; means, with
respect to any Person, all of the shares of Capital Stock of (or other ownership or profit interests in) such Person, all of the warrants,
options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit
interests in) such Person, all of the securities convertible into or exchangeable for shares of Capital Stock of (or other ownership
or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on
any date of determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Exchange Act</B>&rdquo; means the Securities
Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Form&#8239;of Assignment and Transfer</B>&rdquo;
means the &ldquo;Form&#8239;of Assignment and Transfer&rdquo; attached as <U>Attachment 1</U> to the Form&#8239;of Security attached
hereto as <U>Exhibit&#8239;A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Global Security</B>&rdquo; means a Security
which is executed by the Company and authenticated and delivered to the Depository or its nominee, all in accordance with the Indenture
and pursuant to a Company Order, which shall be registered in the name of the Depository or its nominee and which shall represent the
amount of uncertificated Securities as specified therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Holder</B>&rdquo; means, notwithstanding
anything to the contrary in Section&#8239;101 of the Base Indenture, the Person in whose name a Security is registered in the Security
Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Indenture</B>&rdquo; means, notwithstanding
anything to the contrary in Section&#8239;101 of the Base Indenture, the Base Indenture, as originally executed and as supplemented by
this Supplemental Indenture, each as may be amended or supplemented from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Interest Payment Date</B>&rdquo; means,
with respect to the payment of interest on the Securities and notwithstanding anything to the contrary in Section&#8239;101 of the Base
Indenture, each February&#8239;15, May&#8239;15, August&#8239;15 and November&#8239;15 of each year, beginning on August&#8239;15, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Issue Date</B>&rdquo; means, with respect
to the Securities, April&#8239;17, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Maturity Date</B>&rdquo; means, with
respect to any Security and the payment of the principal amount thereof, August&#8239;15, 2029.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Ordinary Voting Power</B>&rdquo; means,
with respect to any Person, the power to elect the directors (or functional equivalent) of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Paying Agent</B>&rdquo; has the meaning
set forth in the Base Indenture and shall be the Person authorized by the Company to pay the principal amount of and interest on, any
Securities on behalf of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Physical Securities</B>&rdquo; means
any non-Global Security issued pursuant to <U>Section&#8239;2.03</U> hereof that is in definitive, fully registered form, without interest
coupons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Preliminary Prospectus Supplement</B>&rdquo;
means the Preliminary Prospectus Supplement of the Company, dated April&#8239;15, 2024 and relating to the offering and sale of the Securities,
to the Prospectus of the Company dated September&#8239;27, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Redemption Date</B>&rdquo; has the meaning
specified in <U>Section&#8239;3.01</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Regular Record Date</B>&rdquo; means,
with respect to any Interest Payment Date, February&#8239;1 (whether or not a Business Day), May&#8239;1 (whether or not a Business Day),
August&#8239;1 (whether or not a Business Day) or November&#8239;1 (whether or not a Business Day), as the case may be, immediately preceding
such Interest Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Security</B>&rdquo; or &ldquo;<B>Securities</B>&rdquo;
has the meaning specified in the fourth paragraph of the Recitals of this Supplemental Indenture, notwithstanding anything to the contrary
in Section&#8239;101 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Successor Parent</B>&rdquo; means, means
any Person for which Equity Interests of such Person representing more than 50% of the aggregate Ordinary Voting Power of the issued
and outstanding Equity Interests of such Person immediately after the time we become a wholly owned Subsidiary of such Person, are beneficially
owned (within the meaning of the Exchange Act and the rules&#8239;of the Commission thereunder as in effect on the date hereof) by one
or more Persons that beneficially owned Equity Interests representing more than 50% of the aggregate Ordinary Voting Power of our issued
and outstanding Equity Interests immediately prior to our becoming a wholly owned Subsidiary of such Person and in substantially the
same proportion as immediately prior to our becoming a wholly owned Subsidiary of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Supplemental Indenture</B>&rdquo; has
the meaning specified in the first paragraph hereof, as such instrument may be supplemented from time to time by one or more indentures
supplemental hereto, entered into pursuant to the applicable provisions of the Base Indenture and this Supplemental Indenture, including,
for all purposes of this Supplemental Indenture and any such other supplemental indenture, the provisions of the Trust Indenture Act
that are deemed to be a part of and govern the Base Indenture, this Supplemental Indenture and any other such supplemental indenture,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Trustee</B>&rdquo; means the Person
named as the &ldquo;<B>Trustee</B>&rdquo; in the first paragraph of this Supplemental Indenture until a successor Trustee shall have
become such pursuant to the applicable provisions of the Base Indenture and this Supplemental Indenture, and thereafter &ldquo;<B>Trustee</B>&rdquo;
shall mean or include each Person who is then a Trustee hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Underwriting Agreement</B>&rdquo; means
the Underwriting Agreement, dated April&#8239;15, 2024, by and among the Company, and Morgan Stanley&#8239;&amp; Co. LLC, RBC Capital
Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC and Piper Sandler&#8239;&amp; Co., as representative of the several Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Underwriters</B>&rdquo; means the underwriters
named in Schedule A to the Underwriting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>U.S.</B>&rdquo; or &ldquo;<B>United
States</B>&rdquo; means the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&#8239;2</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>THE
SECURITIES</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;2.01</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Title
and Terms; Payments</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Establishment;
Designation</U>. Pursuant to Section&#8239;301 of the Base Indenture, there is hereby established and authorized a new series of Securities
under the Indenture, which series of Securities shall be designated the &ldquo;<B>9.000% Senior Notes due 2029</B>.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Initial
Issuance</U>. Subject to <U>Section&#8239;2.01(c)</U>&#8239;hereof, the aggregate principal amount of Securities to be authenticated
and delivered on the date hereof is limited to $75,000,000 (or up to $86,250,000 if the Underwriters exercise their option granted pursuant
to the Underwriting Agreement to purchase additional Securities in full). In addition, the Company may execute, and the Trustee may authenticate
and deliver, in each case, in accordance with Section&#8239;303 of the Base Indenture, an unlimited aggregate principal amount of additional
Securities upon the transfer, exchange, or purchase of Securities pursuant to Sections 304, 305 and 306 of the Base Indenture and <U>Section&#8239;3.03
</U>hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Further
Issues</U><I>. </I>The Company may, without the consent of the Holders, issue additional Securities under the Indenture with the same
terms and the same CUSIP number as the Securities initially issued under the Indenture in an unlimited aggregate principal amount; <I>provided</I>,
that the Company may issue such additional Securities only if they are part of the same issue (and part of the same series) as the Securities
initially issued hereunder for U.S. federal income tax purposes. Any such additional Securities will, for all purposes of the Indenture,
including waivers, amendments and offers to purchase, be treated as part of the same series as the Securities initially issued under
the Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Purchases</U><I>.
</I>The Company and its Subsidiaries may from time to time purchase Securities in open market purchases in negotiated transactions or
otherwise without giving prior notice to or obtaining any consent of the Holders. Any Securities purchased by the Company or any of its
Subsidiaries pursuant to the foregoing sentence or otherwise will be retired and will no longer be Outstanding under the Indenture</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Denominations</U><I>.
</I>Pursuant to Sections 301 and 302 of the Base Indenture, the Securities will be issued only in minimum denominations of $25.00 and
integral multiples of $25.00 in excess thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;2.02</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Forms</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>In
General</U>. Pursuant to Article&#8239;Two of the Base Indenture, the Securities will be substantially in the forms set forth in <U>Exhibit&#8239;A
</U>hereto, and may include such insertions, omissions, substitutions and other variations as are required or permitted by the Indenture,
and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required
to comply with the rules&#8239;of any securities exchange or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding Section&#8239;305 of the Base
Indenture, each Security will bear a Trustee&rsquo;s certificate of authentication substantially in the form included in <U>Exhibit&#8239;A
</U>hereto. Each Security will also bear the Form&#8239;of Assignment and Transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Security that is a Global Security will bear
a legend substantially in the form of the legend set forth in <U>Exhibit&#8239;A</U> hereto and shall also bear the &ldquo;<B>Schedule
of Increases and Decreases of Global Security</B>&rdquo; set forth in <U>Annex&#8239;A</U> to <U>Exhibit&#8239;A</U> hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The terms and provisions contained in the Securities
will constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Company and the Trustee,
by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby.
However, to the extent that any provision of any Security conflicts with the express provisions of the Indenture, the provisions of this
Indenture will govern and control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Initial
and Subsequent Form&#8239;of Securities</U>. The Company hereby initially appoints The Depository Trust Company as the Depository for
the Securities, which initially shall be issued in the form of one or more Global Securities without interest coupons (i)&#8239;registered
in the name of Cede&#8239;&amp; Co., as nominee of the Depository, and (ii)&#8239;delivered to the Trustee as custodian for the Depository.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">So long as the Securities are
eligible for book-entry settlement with the Depository, unless otherwise required by law, and except to the extent provided in <U>Section&#8239;&#8239;2.03(c)(1)</U>&#8239;through
<U>(3)</U>&#8239;hereof, all Securities will be represented by one or more Global Securities.</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Global
Securities</U>. Each Global Security will represent the aggregate principal amount of the then Outstanding Securities endorsed thereon
and provide that it represents such aggregate principal amount of the then Outstanding Securities, which aggregate principal amount may,
from time to time, be reduced or increased to reflect transfers, exchanges, conversions or purchases by the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Only the Trustee, or the Custodian holding such
Global Security for the Depository, at the direction of the Trustee, may endorse a Global Security to reflect the amount of any increase
or decrease in the aggregate principal amount of the then Outstanding Securities represented thereby, and whenever the Holder of a Global
Security delivers instructions to the Trustee to increase or decrease the aggregate principal amount of the then Outstanding Securities
represented by a Global Security in accordance with the Indenture and the Applicable Procedures, the Trustee, or the Custodian holding
such Global Security for the Depository, at the direction of the Trustee, will endorse such Global Security to reflect such increase
or decrease in the aggregate principal amount of the then Outstanding Securities represented thereby. None of the Trustee, the Company
or any agent of the Trustee or the Company will have any responsibility or bear any liability for any aspect of the records relating
to or payments made on account of the ownership of any beneficial interest in a Global Security or with respect to maintaining, supervising
or reviewing any records relating to such beneficial interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Members of, or participants in, the Depository
(&ldquo;<B>Agent Members</B>&rdquo;) shall have no rights under the Indenture with respect to any Global Security held on their behalf
by the Depository, or the Trustee as its custodian, or under the Global Security, and Cede&#8239;&amp; Co., or such other Persons designated
by the Depository as its nominee, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute
owner of the Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished
by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise
of the rights of any Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;2.03</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Transfer
and Exchange</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>In
General</U>. Notwithstanding anything to the contrary in Article&#8239;Three of the Base Indenture, the Company is not required to transfer
or exchange any Securities or portions thereof that have been surrendered for purchase in accordance with <U>Article&#8239;3</U> hereof,
and a written form of transfer substantially in the form of the Form&#8239;of Assignment and Transfer will be deemed to be a written
instrument of transfer satisfactory to the Company and the Security Registrar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At such time as all interests in a Global Security
have been purchased, cancelled or exchanged for Securities in certificated form, such Global Security shall, upon receipt thereof, be
canceled by the Trustee in accordance with standing procedures and instructions existing between the Depository and the Custodian for
the Global Security. At any time prior to such cancellation, if any interest in a Global Security is purchased, cancelled or exchanged
for Securities in certificated form, the principal amount of such Global Security shall, in accordance with the standing procedures and
instructions existing between the Depository and the Custodian for the Global Security, be appropriately reduced, and an endorsement
shall be made on such Global Security, by the Trustee or the Custodian for the Global Security, at the direction of the Trustee, to reflect
such reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Global
Securities</U>. Notwithstanding anything to the contrary in Section&#8239;305 of the Base Indenture, every transfer and exchange of a
beneficial interest in a Global Security will be effected through the Depository in accordance with the Applicable Procedures and the
provisions of the Indenture, and each Global Security may be transferred only as a whole and only (A)&#8239;by the Depository to a nominee
of the Depository, (B)&#8239;by a nominee of the Depository to the Depository or to another nominee of the Depository, or (C)&#8239;by
the Depository or any such nominee to a successor Depository or a nominee of such successor Depository.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Holders
Deemed Owners</U>. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of
receiving payment of principal of and any interest (subject to Section&#8239;307 of the Base Indenture) on such Security at the Maturity
Date, in connection with a Change of Control Repurchase Event, and for all other purposes whatsoever, for distribution of notices to
such Holders or solicitations of their consent, whether or not such Security be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the contrary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary in Section&#8239;305
of the Base Indenture:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(1)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
Global Security will be exchanged for Physical Securities if the Depository delivers notice to the Company that the Depository is unwilling,
unable or no longer permitted under applicable law to continue to act as Depository, and, in each case, the Company promptly delivers
a copy of such notice to the Trustee and the Company fails to appoint a successor Depository within 90 days after receiving notice from
the Depository.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(2)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If
an Event of Default has occurred and is continuing, any owner of a beneficial interest in a Global Security may exchange such beneficial
interest for Physical Securities by delivering a written request to the Depository, who shall in turn notify the Security Registrar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(3)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If
the Company notifies the Depository and Trustee that the Securities shall no longer be represented by a Global Security and the beneficial
owners of the majority of the principal amount of such Global Security (or portion thereof) consent to an exchange of Global Securities
for Physical Securities, the Company may exchange all beneficial interests in such Global Security (or portion thereof) for Physical
Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the case of an exchange for Physical Securities
under clause&#8239;(1)&#8239;above:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(A)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">each
Global Security will be deemed surrendered to the Trustee for cancellation;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(B)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Trustee will cause each Global Security to be cancelled in accordance with the Applicable Procedures; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(C)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Company, in accordance with Section&#8239;303 of the Base Indenture, will promptly execute, and, upon receipt of a Company Request, the
Trustee, in accordance with Section&#8239;303 of the Base Indenture, will promptly authenticate and deliver, for each beneficial interest
in each Global Security so exchanged, an aggregate principal amount of Physical Securities equal to the aggregate principal amount of
such beneficial interest, registered in such names and in such authorized denominations as the Depository specifies, and bearing any
legends that such Physical Securities are required to bear under this Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the case of an exchange for Physical Securities
under clause&#8239;(2)&#8239;above:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(A)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Security Registrar will deliver notice of such request to the Company and the Trustee, which notice will identify the owner of the beneficial
interest to be exchanged, the aggregate principal amount of such beneficial interest and the CUSIP of the relevant Global Security, in
each case if and as such information is provided to the Security Registrar by the Depository;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(B)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Company, in accordance with Section&#8239;303 of the Base Indenture, will promptly execute, and, upon receipt of a Company Request, the
Trustee, in accordance with Section&#8239;303 of the Base Indenture, will promptly authenticate and deliver to such owner, for the beneficial
interest so exchanged by such owner, Physical Securities registered in the name specified by the Depository having an aggregate principal
amount equal to the aggregate principal amount of such beneficial interest and bearing any legends that such Physical Securities are
required to bear under this Indenture; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(C)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Security Registrar, in accordance with the Applicable Procedures, will cause the principal amount of such Global Security to be decreased
by the aggregate principal amount of the beneficial interest so exchanged. If all of the beneficial interests in a Global Security are
so exchanged, such Global Security will be deemed surrendered to the Trustee for cancellation, and the Trustee will cause such Global
Security to be cancelled in accordance with the Applicable Procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the case of an exchange for Physical Securities
under clause&#8239;(3)&#8239;above:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(A)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Company shall deliver notice of such request to the Security Registrar and the Trustee, which notice will identify each owner of a beneficial
interest to be exchanged, the aggregate principal amount of each such beneficial interest and the CUSIP of the relevant Global Security;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(B)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Company, in accordance with Section&#8239;303 of the Base Indenture, shall promptly execute, and, upon receipt of a Company Request,
the Trustee, in accordance with Section&#8239;303 of the Base Indenture, will promptly authenticate and deliver to each such beneficial
owner, Physical Securities registered in such beneficial owner&rsquo;s name having an aggregate principal amount equal to the aggregate
principal amount of its exchanged beneficial interest and bearing any legends that such Physical Securities are required to bear under
this Indenture and any applicable law; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(C)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Security Registrar, in accordance with the Applicable Procedures, will cause the principal amount of each relevant Global Security to
be decreased by the aggregate principal amount of the beneficial interests so exchanged. If all of the beneficial interests in a Global
Security are so exchanged, such Global Security will be deemed surrendered to the Trustee for cancellation, and the Trustee will cause
such Global Security to be cancelled in accordance with the Applicable Procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In each of the cases described in clauses&#8239;(1),
(2)&#8239;and (3)&#8239;above, the Company, the Security Registrar and the Trustee may rely on the Depository to provide all names of
beneficial owners and their respective principal amounts beneficially owned and the Company may issue Physical Securities registered
in the names and amounts so provided by the Depository.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Physical
Securities</U>. Except to the extent otherwise provided in <U>Section&#8239;2.03(a)</U>&#8239;hereof, Physical Securities may be transferred
or exchanged in accordance with Section&#8239;305 of the Base Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;2.04</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Payments
on the Securities</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>In
General</U>. Each Security will accrue cash interest at a rate equal to 9.000% per annum from the most recent date to which interest
has been paid or duly provided for, or, if no interest has been paid or duly provided for, the Issue Date. Interest on a Security will
cease to accrue upon the earliest of the Maturity Date and subject to the provisions of <U>Article&#8239;&#8239;4</U> hereof, any Repurchase
Price Payment Date for such Security. Interest on any Security will be payable quarterly in arrears on each Interest Payment Date, beginning
August&#8239;15, 2024, to the Holder of such Security as of the Close of Business on the Regular Record Date immediately preceding the
applicable Interest Payment Date. As provided in Section&#8239;310 of the Base Indenture, interest will be computed on the basis of a
360-day year comprised of twelve 30- day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day
month.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities will mature on the Maturity Date,
and on the Maturity Date, each Holder of a then Outstanding Security will be entitled on such date to receive $25.00 in cash for each
$25.00 in principal amount of then Outstanding Securities held, together with accrued and unpaid interest to, but not including, the
Maturity Date on such then Outstanding Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary, if the
Maturity Date or any Interest Payment Date, Redemption Date or Repurchase Price Payment Date falls, or if any payment, delivery, notice
or other action by the Company is otherwise due, on a day that is not a Business Day, then any action to be taken on such date need not
be taken on such date, but may be taken on the immediately following Business Day with the same force and effect as if taken on such
date, and no additional interest will accrue and no Default shall occur on account of such delay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Method
of Payment</U>. The Company shall pay the principal of, or the Repurchase Price for any Physical Security to the Holder of such Security
in cash at the designated office of the Paying Agent in the United States, prior to 10:00 a.m.&#8239;on the relevant payment or settlement
date, as the case may be. Interest on any Physical Security will be payable by the Company (i)&#8239;to Holders having an aggregate principal
amount of $2,000,000 or less, by check mailed to the Holders of such Security and (ii)&#8239;to Holders having an aggregate principal
amount of more than $2,000,000, either by check mailed to each Holder or, upon application by such a Holder to the Security Registrar
not later than the relevant Regular Record Date, by wire transfer in immediately available funds to that Holder&rsquo;s account within
the United States, which application will remain in effect until the Holder notifies, in writing, the Security Registrar to the contrary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall pay the principal of, interest
on, the Repurchase Price for, any Global Security to the Depository by wire transfer of immediately available funds on the relevant payment
date in accordance with Applicable Procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Defaulted
Payments</U>. The Company shall pay any interest on the Securities that is payable, but is not punctually paid or duly provided for on
the applicable Interest Payment Date, in accordance with Section&#8239;307 of the Base Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&#8239;3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>REDEMPTION
OF SECURITIES</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Solely for the purpose of the Securities, Article&#8239;Eleven
of the Base Indenture shall be deleted and shall be replaced in the entirety by this Article&#8239;3. Any reference in the Base Indenture
to Article&#8239;Eleven shall, with respect to the Securities, be deemed to be a reference to Article&#8239;3 of this Supplemental Indenture,
and reference in the Base Indenture to Sections 1103, 1104, 1106 and 1107 shall, with respect to the Securities, be deemed replaced with
references to <U>Sections &#8239;3.02</U>,<U>&#8239;3.02</U>,<U>&#8239;3.03</U> and <U>&#8239;3.02</U>, respectively, in this Supplemental
Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;3.01</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Optional
Redemption of the Securities</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
or after August&#8239;15, 2026, the Company may redeem for cash all or any portion of the Securities, at the Company&rsquo;s option,
at a redemption price equal to 100% of the principal amount of the Securities to be redeemed, plus accrued and unpaid interest to, but
excluding, the redemption date (the &ldquo;<B>Redemption Price</B>&rdquo;). Notwithstanding the foregoing, interest due on an interest
payment date falling on or prior to a redemption date will be payable to holders at the close of business on the record date for such
interest payment date. The Company is required to give notice of such redemption not less than 30 days nor more than 60 days prior to
the redemption date (the &ldquo;<B>Redemption Date</B>&rdquo;) to each holder at its address appearing in the securities register maintained
by the Trustee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;3.02</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Notice
of Optional Redemption; Selection of Securities.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
case the Company shall desire to exercise the right to redeem all or, as the case may be, any part of the Securities pursuant to <U>Section&#8239;&#8239;3.01</U>,
it shall fix a date for redemption and it or, at its written request received by the Trustee and the Paying Agent not fewer than five
Business Days prior (or such shorter period of time as may be acceptable to the Paying Agent) to the date the notice of redemption is
to be delivered accompanied by an Officers&rsquo; Certificate, the Trustee in the name of and at the expense of the Company, shall deliver
or cause to be delivered a notice of such redemption not fewer than 30 calendar days nor more than 60 calendar days prior to the Redemption
Date to each Holder of Securities so to be redeemed in whole or in part at its last address as the same appears on the Security Register,
setting forth the information to be stated in such notice as provided in Section&#8239;1104 of the Base Indenture. If fewer than all
the Securities are to be redeemed, the notice of redemption shall identify the Securities to be redeemed (including CUSIP numbers, if
any). In case any Security is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof
to be redeemed and shall state that, on and after the Redemption Date, upon surrender of such Security, a new Security or Securities
in principal amount equal to the unredeemed portion thereof will be issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Whenever
any Securities are to be redeemed, the Company shall give the Trustee and the Paying Agent written notice of the Redemption Date, together
with an Officers&rsquo; Certificate as to the aggregate principal amount of Securities to be redeemed, not fewer than 15 calendar days
prior to the Redemption Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
or prior to the Redemption Date specified in the notice of redemption given as provided in this <U>Section&#8239;&#8239;3.02</U>, the
Company shall deposit with the Paying Agent (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust
as provided in the Base Indenture) an amount of money in immediately available funds sufficient to redeem on the Redemption Date all
the Securities (or portions thereof) so called for redemption (other than those theretofore surrendered for exchange) at the appropriate
Redemption Price, together with accrued interest to the Redemption Date; provided that if such payment is made on the Redemption Date,
it must be received by the Paying Agent, by 10:00 a.m., New York City time, on such date. The Company shall be entitled to retain any
interest, yield or gain on amounts deposited with the Paying Agent pursuant to this <U>Section&#8239;&#8239;3.02</U> in excess of amounts
required hereunder to pay the Redemption Price; provided, however, that neither the Trustee nor the Paying Agent shall be under any liability
for interest on any money received by it hereunder except as otherwise agreed to with the Company in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
the event the Company elects to redeem less than all of the Securities, the particular Securities to be redeemed will be selected by
the Trustee in accordance with policies and procedures of The Depository Trust Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;3.03</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Payment
of Securities Called for Redemption by the Company.</U> If notice of redemption has been given as provided in <U>Section&#8239;&#8239;3.02</U>,
the Securities or portion of Securities with respect to which such notice has been given shall become due and payable on the Redemption
Date at the place or places stated in such notice at the Redemption Price, and unless the Company shall default in the payment of the
amounts owing on the Securities upon such redemption, interest on the Securities or portion of Securities so called for redemption shall
cease to accrue on and after such date and the Securities shall cease to be entitled to any benefit or security under this Supplemental
Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the Redemption Price
thereof. On presentation and surrender of such Securities, the said Securities or the specified portions thereof shall be paid and redeemed
by the Company at the Redemption Price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;3.04</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Sinking Fund.</U> Article&#8239;Twelve of the Base Indenture will not apply to the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&#8239;4</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>REPURCHASE
OF SECURITIES</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;4.01</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Obligation
to Offer to Repurchase Upon a Change of Control Repurchase Event.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If
a Change of Control Repurchase Event occurs, unless the Company has exercised its option to redeem the Securities as described above,
the Company will make an offer to each holder of Securities to repurchase all or any part (in a principal amount of $25 and integral
multiples of $25 in excess thereof) of that holder&rsquo;s Securities (the &ldquo;<B>Change of Control Offer</B>&rdquo;) at a repurchase
price in cash equal to 101% of the aggregate principal amount of Securities repurchased plus any accrued and unpaid interest on the Securities
repurchased to, but excluding, the Repurchase Price Payment Date (the &ldquo;<B>Repurchase Price</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Within
30 days following any Change of Control Repurchase Event or, at the Company&rsquo;s option, prior to any Change of Control, but after
the public announcement of the Change of Control, the Company shall give notice to each Holder of Securities, with a written copy to
the Trustee and the Paying Agent. Such notice shall state:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">a
description of the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">That
the Change of Control Offer is being made pursuant to this Article&#8239;3;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Repurchase Price and the date on which the Repurchase Price will be paid, which date shall be a Business Day that is no earlier than
30 days and no later than 60 days from the date such notice is mailed, other than as may be required by law (the &ldquo;<B>Repurchase
Price Payment Date</B>&rdquo;); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">if
the notice is given prior to the date of consummation of the Change of Control, a statement that the offer to purchase is conditioned
on the Change of Control Repurchase Event occurring on or prior to the Repurchase Price Payment Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">At the Company&rsquo;s request accompanied by an Officers&rsquo;
Certificate, upon at least five (5)&#8239;Business Days&rsquo; notice (or such shorter period as shall be satisfactory to the Trustee),
the Trustee shall mail such notice in the Company&rsquo;s name and at the Company&rsquo;s expense; <I>provided</I>, <I>however</I>, that
the form and content of such notice shall be prepared by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Company will comply with the requirements of Rule&#8239;14e-1 under the Exchange Act, and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the Securities as a result of a Change of
Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control
Repurchase Event provisions of the Securities, the Company will comply with the applicable securities laws and regulations and will not
be deemed to have breached the Company&rsquo;s obligations under the Change of Control Repurchase Event provisions of the Securities
by virtue of such conflict.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
the Repurchase Price Payment Date, the Company will, to the extent lawful:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">accept
for payment all Securities or portions of Securities properly tendered pursuant to the Change of Control Offer;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">deposit
prior to 10:00 a.m., New York City time, on such date with the Paying Agent an amount equal to the Repurchase Price in respect of all
Securities or portions of Securities properly tendered; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">deliver
or cause to be delivered to the Paying Agent the Securities properly accepted together with an Officers&rsquo; Certificate stating the
aggregate principal amount of Securities being purchased.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Notwithstanding
the foregoing, the Company shall not be required to make an offer to repurchase the Securities upon a Change of Control Repurchase Event
if (i)&#8239;the Company or such Successor Party has given written notice of a redemption as provided under <U>Section&#8239;3.01(a)</U>&#8239;prior
to the occurrence of the Change of Control Repurchase Event; provided that the Company has not failed to pay the Redemption Price on
the Redemption Date or (ii)&#8239;a third party makes such an offer in respect of the Securities in the manner, at the times and otherwise
in compliance with the requirements for an offer made by the Company and such third party purchases all the Securities properly tendered
and not withdrawn under its offer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Failure
to pay the Repurchase Price when due in connection with a Change of Control Repurchase Event will constitute an Event of Default.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;4.02</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Securities
Purchased in Whole or in Part</U>. Any Security that is to be purchased, whether in whole or in part, shall be surrendered at the office
of the Paying Agent (with, if the Company or the Trustee so requires in the case of Physical Securities, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder&rsquo;s
attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such
Security, without service charge, a new Security or Securities, of any authorized denomination as requested by such Holder in aggregate
principal amount equal to, and in exchange for, the portion of the principal amount of the Security so surrendered that is not purchased.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;4.03</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Covenant
To Comply with Applicable Laws upon Purchase of Securities</U>. In connection with any offer to purchase Securities under <U>Section&#8239;4.01</U>,
the Company shall, in each case if required by law, (i)&#8239;comply with Rule&#8239;13e-4, Rule&#8239;14e-1 and any other tender offer
rules&#8239;under the Exchange Act that may then be applicable, (ii)&#8239;file a Schedule TO or any other required schedule under the
Exchange Act and (iii)&#8239;otherwise comply with all federal and state securities laws applicable to the Company in connection with
such purchase offer, in each case, so as to permit the rights and obligations under this <U>Section&#8239;4.03</U> to be exercised in
the time and in the manner specified in <U>Section&#8239;4.01</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;4.04</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Repayment
to the Company</U>.&#8239;To the extent that the aggregate amount of cash deposited by the Company pursuant to this <U>Section&#8239;4.04
</U>exceeds 101% of the aggregate principal amount of Securities repurchased plus any accrued and unpaid interest on the Securities repurchased
to, but excluding, the date of repurchase, then, following the Change of Control Repurchase Event payment date, the Paying Agent shall
promptly return any such excess to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&#8239;5</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>INFORMATION
RIGHTS</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;5.01</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Information
Rights</U>. The Company, pursuant to Section&#8239;314(a)&#8239;of the Trust Indenture Act, shall: (1)&#8239;deliver to the Trustee,
within 15 days after the Company files the same with the Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules&#8239;and regulations
prescribe) which the Company may be required to file with the Commission pursuant to Section&#8239;13 or Section&#8239;15(d)&#8239;of
the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then
it shall deliver to the Trustee and file with the Commission, in accordance with rules&#8239;and regulations prescribed from time to
time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section&#8239;13
of the Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to
time in such rules&#8239;and regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;5.02</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Duty
to Review.</U> The Trustee shall have no duty to review or analyze reports delivered to it. Delivery of such reports, information and
documents to the Trustee pursuant to Section&#8239;5.01 is for informational purposes only, and the Trustee&rsquo;s receipt thereof shall
not constitute actual or constructive notice of any information contained therein or determinable from information contained therein,
including the Company&rsquo;s compliance with any of its covenants under this Indenture (as to which the Trustee is entitled to certificates).
The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Issuer&rsquo;s compliance with the
covenants or with respect to any reports or other documents filed with the Commission or any website under the indenture, or participate
in any conference calls.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&#8239;6</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>MISCELLANEOUS</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.01</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Effect
on Successors and Assigns</U>. Notwithstanding Section&#8239;112 of the Base Indenture, all agreements of the Company, the Trustee, the
Security Registrar and the Paying Agent in this Indenture and the Securities will bind their respective successors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.02</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Governing
Law; Jurisdiction; Waiver of Jury Trial</U>. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE
AND THE SECURITIES,&#8239;INCLUDING WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK
CIVIL PRACTICE LAWS AND RULES 327(B).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company, the Trustee and, by acceptance of
the Securities, each Holder agrees that any suit, action or proceeding arising out of or based upon this Supplemental Indenture or the
transactions contemplated hereby may be instituted in any State or Federal court in The City of New York, New York, and waives any objection
which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the nonexclusive jurisdiction
of such courts in any suit, action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THE COMPANY, THE TRUSTEE AND EACH HOLDER OF THE
SECURITIES BY HIS ACCEPTANCE THEREOF HEREBY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED
ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE TRANSACTIONS CONTEMPLATED HEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.03</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Security Interest Created</U>. Nothing in this Indenture or in the Securities, expressed or implied, shall be construed to constitute
a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.04</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Trust
Indenture Act</U>. If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required
under such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies
or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply
to this Indenture as so modified or to be excluded, as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.05</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Benefits
of Supplemental Indenture</U>. Notwithstanding anything to the contrary in Section&#8239;112 of the Base Indenture, nothing in this Supplemental
Indenture or in the Securities, expressed or implied, will give to any Person, other than the parties hereto, any Paying Agent, any Authenticating
Agent, any Security Registrar or their successors hereunder or the Holders of the Securities, any benefit or any legal or equitable right,
remedy or claim under this Supplemental Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.06</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Calculations</U>.
The Company shall be responsible for making all calculations called for under the Securities and this Indenture. The Company shall make
all these calculations in good faith and, absent manifest error, the Company&rsquo;s calculations shall be final and binding on Holders
of Securities. The Company shall provide a schedule of its calculations to the Trustee, and the Trustee is entitled to rely conclusively
upon the accuracy of the Company&rsquo;s calculations without independent verification. The Trustee will forward the Company&rsquo;s
calculations to any Holder upon the request of that Holder at the sole cost and expense of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.07</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Execution
in Counterparts</U>. This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but
such counterparts shall together constitute but one and the same instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.08</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Notices</U>.
The Company or the Trustee, by notice given to the other in the manner provided in Section&#8239;105 of the Base Indenture, may designate
additional or different addresses for subsequent notices or communications.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary in Sections
105 and 106 of the Base Indenture, whenever the Company is required to deliver notice to the Holders, the Company shall, by the date
it is required to deliver such notice to the Holders, deliver a copy of such notice to the Trustee, the Paying Agent, and the Security
Registrar. Each notice to the Trustee, the Paying Agent, or the Security Registrar shall be sufficiently given if in writing and delivered
via a PDF transmission by or mailed, first-class postage prepaid to the address most recently sent by the Trustee, the Paying Agent or
the Security Registrar, as the case may be, to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.09</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Ratification
of Base Indenture</U>. The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed,
and this Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein provided. For the avoidance
of doubt, each of the Company and each Holder of Securities, by its acceptance of such Securities, acknowledges and agrees that all of
the rights, privileges, protections, immunities, indemnities and benefits afforded to the Trustee under the Base Indenture are deemed
to be incorporated herein, and shall be enforceable by the Trustee hereunder, in each of its capacities hereunder as if set forth herein
in full.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.10</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>The
Trustee</U>. The recitals in this Supplemental Indenture are made by the Company only and not by the Trustee, and all of the provisions
contained in the Base Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable
in respect of the Securities and of this Supplemental Indenture as fully and with like effect as set forth in full herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Section&#8239;6.11</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Recourse Against Others</U>. No director, officer, employee, incorporator or stockholder of the Company shall have any liability for
any obligations of the Company under the Securities, the Indenture or any claim based on, in respect of, or by reason of, such obligations
or their creation. Each Holder, by accepting a Security, waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of the page&#8239;intentionally left
blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties hereto have caused
this Third Supplemental Indenture to be duly executed as of the day and year first above written.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">MFA FINANCIAL,&#8239;INC.</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="width: 3%; text-align: left">By:</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 47%">&#8239;<FONT STYLE="font-size: 10pt">/s/
                                            Michael C. Roper</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Name: Michael C. Roper</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Title: Chief Financial Officer</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Signature Page&#8239;to Third Supplemental
Indenture</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="width: 3%; text-align: left">By:</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 47%">&#8239;<FONT STYLE="font-size: 10pt">/s/
                                            Quinton M. Depompolo</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name: Quinton M.
                                            Depompolo</FONT></TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Title: Assistant Vice President</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Signature Page&#8239;to Third Supplemental
Indenture</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT&#8239;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[FORM&#8239;OF FACE OF SECURITY]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[<I>For Global Securities, include the following legend</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&ldquo;<B>DTC</B>&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&#8239;&amp; CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREUNDER IS MADE TO CEDE&#8239;&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&#8239;&amp; CO., HAS AN INTEREST HEREIN.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">No.:</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">[</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">]<BR>
CUSIP: 55272X 805<BR>
ISIN:</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">US55272X8056</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MFA Financial,&#8239;Inc.<BR>
9.000% Senior Notes due 2029</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">MFA Financial,&#8239;Inc., a Maryland corporation,
promises to pay to [&#8239;&#8239;&#8239;&#8239;&#8239;] [include &ldquo;<B>Cede&#8239;&amp; Co</B><U>.</U>&rdquo; for Global Security]
or registered assigns, the principal amount of $[[&#8239;&#8239;&#8239;&#8239;&#8239;] [as revised by the Schedule of Increases and Decreases
of Global Security attached hereto]<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT> on August&#8239;15,
2029 (the &ldquo;<B>Maturity Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Interest Payment Dates: Each of February&#8239;15,
May&#8239;15, August&#8239;15 and November&#8239;15, commencing on August&#8239;15, 2024. If an interest payment date falls on a non-business
day, the applicable interest payment will be made on the next business day and no additional interest will accrue as a result of such
delayed payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Regular Record Dates: February&#8239;1, May&#8239;1,
August&#8239;1 and November&#8239;1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Additional provisions of this Security are set
forth on the other side of this Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>&#8239;&#8239;&#8239;&#8239;Include
for Global Securities only.</P>


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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, MFA FINANCIAL,&#8239;INC.
has caused this instrument to be duly signed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">MFA FINANCIAL,&#8239;INC.</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                      <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="width: 3%; text-align: left">By:</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 47%">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Name:</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Title:</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="width: 3%; text-align: left">By:</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 47%">&#8239;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Name:</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Title:</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5%; text-align: left">Dated:</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 45%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%">&#8239;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>TRUSTEE&rsquo;S CERTIFICATE OF AUTHENTICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wilmington Trust, National Association, as Trustee, certifies that
this is one of the Securities referred to in the within-mentioned Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Authorized Signatory</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Dated:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[FORM&#8239;OF REVERSE OF SECURITY]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MFA FINANCIAL,&#8239;INC.<BR>
9.000% Senior Notes due 2029</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Security is one of a duly authorized issue
of securities of the Company (herein called the &ldquo;<B>Securities</B>&rdquo;), issued under a Indenture dated as of June&#8239;3,
2019 (herein called the &ldquo;<B>Base Indenture</B>&rdquo;), and as further supplemented by the Third Supplemental Indenture, dated
as of April&#8239;17, 2024 (herein called the &ldquo;<B>Supplemental Indenture</B>&rdquo; and the Base Indenture, as supplemented by
the Supplemental Indenture, the &ldquo;<B>Indenture</B>&rdquo;) by and between the Company and Wilmington Trust, National Association,
herein called the &ldquo;<B>Trustee</B>&rdquo;, and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms
upon which the Securities are, and are to be, authenticated and delivered. This Security is not subject to redemption at the option of
the Company prior to the Maturity Date and does not benefit from a sinking fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At any time on or after August&#8239;15, 2026,
the Company may, in accordance with the provisions of Article&#8239;3 of the Supplemental Indenture, redeem the Securities for cash,
in whole or in part, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed plus unpaid interest,
if any, accrued thereon to, but excluding, the Redemption Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a Change of Control Repurchase Event occurs,
unless the Company has exercised its option to redeem the Securities pursuant to Article&#8239;4 of the Supplemental Indenture prior
to the occurrence of the Change of Control Repurchase Event, the Company shall make an offer to each Holder of Securities to repurchase
all or any part of that Holder&rsquo;s Securities at a repurchase price in cash equal to 101% of the aggregate principal amount of Securities
repurchased plus any accrued and unpaid interest on the Securities repurchased to, but excluding, the Repurchase Price Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an Event of Default with respect to the Company
shall occur and be continuing, the principal of, and accrued and unpaid interest on, the Securities may be declared to be due and payable
in the manner specified in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As provided in and subject to the provisions of
the Indenture, the Company shall make all payments in respect of the Repurchase Price for, and the principal amount of, this Security
to the Holder that surrenders this Security to the Paying Agent to collect such payments in respect of this Security. The Company shall
pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders
of the Securities to be effected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Securities at the time Outstanding. The Indenture also contains provisions permitting the Holders
of specified percentages in principal amount of the Securities at the time Outstanding, on behalf of the Holders of all Securities, to
waive compliance by the Company with certain provisions of the Indenture and certain past Defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders
of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>



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

<!-- Field: Page; Sequence: 27; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As provided in and subject to the provisions of
the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture, or for
the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Security, the Holders of not less than 25% in principal amount of
the Securities at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event
of Default as Trustee and offered the Trustee indemnity satisfactory to it, and the Trustee shall not have received from the Holders
of a majority in principal amount of Securities at the time Outstanding a direction inconsistent with such request, and shall have failed
to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply
to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or interest hereon or amounts
due upon conversion on or after the respective due dates expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No reference herein to the Indenture and no provision
of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
or deliver, as the case may be, the principal of (including the Repurchase Price), and interest on this Security at the time, place and
rate, and in the coin and currency, herein prescribed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security
are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security
Registrar duly executed by, the Holder hereof or its attorney duly authorized in writing, and thereupon one or more new Securities of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities are issuable only in registered
form without coupons in denominations of $25.00 and integral multiples of $25.00 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities are exchangeable for a like aggregate principal amount of Securities
and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to due presentment of this Security for
registration of transfer, the Company, the Trustee and any agent of the Company or Trustee may treat the Person in whose name the Security
is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor
any such agent shall be affected by notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 28; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All defined terms used in this Security that are
defined in the Indenture shall have the meanings assigned to them in the Indenture. If any provision of this Security limits, qualifies
or conflicts with a provision of the Indenture, such provision of the Indenture shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will furnish to any Holder upon written
request and without charge a copy of the Indenture. Requests may be made to the Company at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">MFA Financial,&#8239;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">One Vanderbilt Ave., 48<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, NY 10017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attention: Investor Relations Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Telephone: 212-207-6400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following abbreviations, when used in the
inscription of the face of this Security, shall be construed as though they were written out in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 68%"><FONT STYLE="font-size: 10pt">TEN COM - as tenants in common</FONT></TD>
    <TD STYLE="width: 32%"><FONT STYLE="font-size: 10pt"><U>UNIF GIFT MIN ACT<BR>
    </U>Custodian<BR>
    (Cust)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">TEN ENT -as tenants by the entireties</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(Minor)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">JT TEN - as joint tenants with right of survivorship and not as tenants in common</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Uniform Gifts to Minors Act&#8239;(State)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Additional abbreviations may also be used though not in the above list.</FONT></TD>
    <TD>&#8239;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>



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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>ANNEX A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Include for Global Security]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE OF INCREASES AND DECREASES OF GLOBAL
SECURITY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Initial principal amount of Global Security: $75,000,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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    <TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 17%; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD><TD STYLE="padding-bottom: 1pt; width: 1%; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; padding-bottom: 1pt; width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 19%; font-size: 10pt; font-weight: bold; text-align: center; padding-left: 5.4pt">Amount
    of<BR>
    Increase in<BR>
    principal<BR>
    amount of<BR>
    Global Security</TD><TD STYLE="text-align: center; padding-bottom: 1pt; width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Amount
                                            of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Decrease</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>in</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>principal</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>amount
                                            of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Global</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Security</B></P></TD><TD STYLE="text-align: center; padding-bottom: 1pt; width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Principal</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>amount
                                            of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Global</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Security</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>after</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Increase
                                            or</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Decrease</B></P></TD><TD STYLE="text-align: center; padding-bottom: 1pt; width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Notation</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>by
                                            Security</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Registrar</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>or</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Custodian</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&#8239;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&#8239;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&#8239;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&#8239;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>ATTACHMENT 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[FORM&#8239;OF ASSIGNMENT AND TRANSFER]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For value received&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;hereby
sell(s), assign(s)&#8239;and transfer(s)&#8239;unto&#8239;(Please insert social security or Taxpayer Identification Number of assignee)
the within Security,&#8239;and hereby irrevocably constitutes and appoints&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;to&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;transfer
the said Security on the books of the Company, with full power of substitution in the premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with any transfer of the Security,
the undersigned confirm(s)&#8239;that such Security is being transferred:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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<TD STYLE="width: 5%; text-align: left">Dated:</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 44%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD><TD STYLE="text-align: justify; width: 49%">&#8239;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">Signature(s)</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: left">Signature(s)&#8239;must be guaranteed by an institution which is a member of one of the
                   following recognized signature Guarantee Programs:</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: left">(i)&#8239;The Securities Transfer Agent Medallion Program (STAMP); (ii)&#8239;The New
                   York Stock Exchange Medallion Program (MNSP); (iii)&#8239;The Stock Exchange Medallion Program (SEMP); or (iv)&#8239;another
                   guarantee program</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

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

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

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