<SEC-DOCUMENT>0000947871-26-000309.txt : 20260319
<SEC-HEADER>0000947871-26-000309.hdr.sgml : 20260319
<ACCEPTANCE-DATETIME>20260319172844
ACCESSION NUMBER:		0000947871-26-000309
CONFORMED SUBMISSION TYPE:	F-3ASR
PUBLIC DOCUMENT COUNT:		22
FILED AS OF DATE:		20260319
DATE AS OF CHANGE:		20260319
EFFECTIVENESS DATE:		20260319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WPP plc
		CENTRAL INDEX KEY:			0000806968
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-294468
		FILM NUMBER:		26775322

	BUSINESS ADDRESS:	
		STREET 1:		SEA CONTAINERS
		STREET 2:		18 UPPER GROUND
		CITY:			LONDON
		STATE:			X0
		ZIP:			SE1 9GL
		BUSINESS PHONE:		440 20 7282 4600

	MAIL ADDRESS:	
		STREET 1:		SEA CONTAINERS
		STREET 2:		18 UPPER GROUND
		CITY:			LONDON
		STATE:			X0
		ZIP:			SE1 9GL

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WPP GROUP PLC
		DATE OF NAME CHANGE:	19960514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WPP 2025 LLC
		CENTRAL INDEX KEY:			0002084222
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-294468-03
		FILM NUMBER:		26775325

	BUSINESS ADDRESS:	
		STREET 1:		3 WORLD TRADE CENTER
		STREET 2:		175 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10007
		BUSINESS PHONE:		6465301848

	MAIL ADDRESS:	
		STREET 1:		3 WORLD TRADE CENTER
		STREET 2:		175 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10007

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WPP Jubilee Ltd
		CENTRAL INDEX KEY:			0001591085
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-294468-02
		FILM NUMBER:		26775324

	BUSINESS ADDRESS:	
		STREET 1:		27 FARM STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1J 5RJ
		BUSINESS PHONE:		0044 20 7408 2204

	MAIL ADDRESS:	
		STREET 1:		27 FARM STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1J 5RJ

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WPP 2005 LTD
		CENTRAL INDEX KEY:			0001406528
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-294468-01
		FILM NUMBER:		26775323

	BUSINESS ADDRESS:	
		STREET 1:		27 FARM STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1X 6RD
		BUSINESS PHONE:		011-44-207-318-0021

	MAIL ADDRESS:	
		STREET 1:		27 FARM STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1X 6RD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WPP Finance 2010
		CENTRAL INDEX KEY:			0001548589
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-294468-04
		FILM NUMBER:		26775326

	BUSINESS ADDRESS:	
		STREET 1:		27 FARM STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1J 5RJ
		BUSINESS PHONE:		0044 20 7408 2204

	MAIL ADDRESS:	
		STREET 1:		27 FARM STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1J 5RJ
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-3ASR
<SEQUENCE>1
<FILENAME>ss5271995_f3.htm
<DESCRIPTION>REGISTRATION STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; 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: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>



<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B>UNITED STATES</B></P>

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

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B>FORM F-3</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>THE SECURITIES ACT OF 1933</I></B></P>

<P STYLE="font: 16pt/18pt Times New Roman, Times, Serif; margin: 10pt 0 5pt; text-align: center"><FONT STYLE="letter-spacing: -0.3pt"><B>WPP
plc</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.15pt">(Exact name of
Registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>Jersey</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.15pt">(State or other
jurisdiction of incorporation or organization)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>Not applicable</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.15pt">(I.R.S. Employer
Identification Number)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>Sea Containers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>18 Upper Ground</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>London SE1
9GL, United Kingdom</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>Telephone:
(011 44) 20 7282 4600</B></FONT><B><BR>
</B><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(Address and telephone number of Registrant&rsquo;s principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">&nbsp;</FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font: 11pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 16pt; letter-spacing: -0.3pt"><B>WPP Finance 2010<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(Exact name of Registrant as specified in its charter)<BR>
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: -0.2pt"><B>England and Wales<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(State or other jurisdiction of incorporation or organization)<BR>
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: -0.2pt"><B>Not applicable<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(I.R.S. Employer Identification Number)<BR>
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: -0.2pt"><B>Sea Containers<BR>
18 Upper Ground<BR>
London SE1 9GL, United Kingdom<BR>
Telephone: (011 44) 20 7282 4600<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(Address and telephone number of Registrant&rsquo;s principal executive offices)</FONT></TD>
    <TD STYLE="width: 50%; font: 11pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 16pt; letter-spacing: -0.3pt"><B>WPP 2025 LLC<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(Exact name of Registrant as specified in its charter)<BR>
</FONT><FONT STYLE="font-size: 10pt"><B>Delaware<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(State or other jurisdiction of incorporation or organization)<BR>
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: -0.2pt"><B>39-3674912<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(I.R.S. Employer Identification Number)<BR>
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: -0.2pt"><B>3 World Trade Center<BR>
175 Greenwich Street<BR>
New York NY 10007, United States<BR>
Telephone: (011 44) 20 7282 4600<BR>
</B></FONT><FONT STYLE="font-size: 8pt; letter-spacing: 0.15pt">(Address and telephone number of Registrant&rsquo;s principal executive offices)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(FOR CO-REGISTRANTS, PLEASE SEE &ldquo;TABLE OF CO-REGISTRANTS&rdquo;
ON THE FOLLOWING PAGE)</B></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B>Andrea Harris, Esq.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Group Chief Counsel</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Sea Containers</B></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>London SE1 9GL, United Kingdom</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Telephone: (011 44) 20 7282 4600</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name, address, including zip code, and telephone
number, including area code, of agent for service)</B></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B><I>Copies to:</I></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Sachin A. Dav&eacute;, Esq.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Allen Overy Shearman Sterling LLP</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>One Bishops Square</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>London E1 6AD, United Kingdom </B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Tel: (011 44) 20 3088 0000</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Approximate date of commencement of proposed sale
to the public:</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>From time to time after the effective date of this
registration statement.</B></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-indent: 0.5in">If the only securities being registered on this
Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. <FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">If any of the securities being registered on this
Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box.
<FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9746;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">If this Form is filed to register additional securities
for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering.&nbsp;<FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">If this Form is a post-effective amendment filed
pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of
the earlier effective registration statement for the same offering.&nbsp;<FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">If this Form is a registration statement pursuant
to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant
to Rule 462(e) under the Securities Act, check the following box. <FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9746;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">If this Form is a post-effective amendment to
a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities
pursuant to Rule 413(b) under the Securities Act, check the following box. <FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">Emerging growth company <FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">If an emerging growth company that prepares its
financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards&dagger; provided pursuant to Section 7(a)(2)(B) of the Securities
Act. <FONT STYLE="font-family: MS Gothic, Helvetica, Sans-Serif">&#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">&dagger;
</FONT>The term &ldquo;new or revised financial accounting standard&rdquo; refers to any update issued by the Financial Accounting Standards
Board to its Accounting Standards Codification after April 5, 2012.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 2pt 0 0; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>TABLE OF CO-REGISTRANTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Exact Name as Specified
    in Charter</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>State or Other
    Jurisdiction of Incorporation or Organization</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>I.R.S Employer
    Identification Number</B></P></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Address, Including
    Zip Code and Telephone Number, Including Area Code, of Principal Executive Offices</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">WPP Jubilee Limited</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">England and Wales</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Not Applicable</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sea Containers</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">18 Upper Ground</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">London SE1 9GL, United Kingdom</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (011 44) 20 7282 4600</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">WPP 2005 Limited</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">England and Wales</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Not Applicable</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sea Containers</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">18 Upper Ground</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">London SE1 9GL, United Kingdom</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (011 44) 20 7282 4600</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><IMG SRC="image_001.jpg" ALT=""><FONT STYLE="letter-spacing: 3.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">
<FONT STYLE="letter-spacing: 3.5pt"></FONT> <FONT STYLE="letter-spacing: 5.6pt"></FONT></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B><I>WPP FINANCE 2010</I></B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B><I>WPP 2025 LLC</I></B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>DEBT SECURITIES</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 0in"><B>GUARANTEED BY</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 0in"><B><I>WPP PLC</I></B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 0in"><B><I>WPP JUBILEE LIMITED</I></B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 0in"><B><I>WPP 2005 LIMITED</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">Each of
WPP Finance 2010 and WPP 2025 LLC may from time to time offer debt securities, which will be guaranteed by WPP plc, WPP Jubilee Limited
and WPP 2005 Limited and which may be guaranteed by other entities through this prospectus. This prospectus describes some of the general
terms that may apply to these securities and the general manner in which these securities may be offered. Each time we offer and sell
debt securities, the specific terms of the debt securities, including the offering price, and the specific manner in which they may be
offered, will be described in supplements to this prospectus. The supplements may also add, update or change information contained in
this prospectus with respect to that offering. You should read this prospectus and any applicable prospectus supplement(s) carefully before
you make a decision to invest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">We may
sell securities to or through underwriters, dealers, agents or to other purchasers. If any underwriters, dealers or agents are involved
in the sale of any of the debt securities, the accompanying prospectus supplement will set forth the names of any underwriters, dealers
or agents and any applicable purchase price, fee commission or discount arrangement between or among them will be set forth, or will be
calculable from the information set forth, in the applicable prospectus supplement. See sections of this prospectus titled &ldquo;About
this Prospectus&rdquo; for more information.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white"><B>Investing
in our debt securities involves certain risks. See the &ldquo;Risk Factors&rdquo; section beginning on page 2 of this prospectus and
any similar section contained in the applicable prospectus supplement to read about certain factors you should consider before making
a decision to invest in our debt securities. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>Neither the U.S. Securities and Exchange
Commission nor any state securities commission has approved or disapproved of these securities or determined that this prospectus is truthful
or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white"><B>This
prospectus may not be used to sell securities unless it is accompanied by a prospectus supplement.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in">The date of this prospectus
is March 19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>Table of Contents </B></P>

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">About This Prospectus</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0in">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Risk Factors</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Where You Can Find More Information</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">3</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Incorporation of Certain Documents by Reference</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">4</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Cautionary Statements Concerning Forward-Looking Statements</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">The Issuers and The Guarantors</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Use of Proceeds</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Description of Debt Securities and Guarantees</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">3</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Taxation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">4</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Experts</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Legal Matters</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">Enforceability of Civil Liabilities</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0in; padding-left: 0in">PART II</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">8</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">i</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">About This Prospectus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">This prospectus is part of a registration statement
that we filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) using a &ldquo;shelf&rdquo;
registration process. Under this shelf registration process, <FONT STYLE="background-color: white">each of WPP Finance 2010 and WPP 2025
LLC </FONT>may from time to time offer debt securities, with guarantees of WPP plc, WPP Jubilee Limited and WPP 2005 Limited and, to the
extent so indicated in an applicable prospectus supplement or otherwise established following the offer and sale of a series of debt securities,
guarantees of other entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">This prospectus only provides a general description
of the securities that we may offer and the method by which the securities may be offered. Each time we offer securities, we will provide
a prospectus supplement containing specific information about the terms of the securities that are the subject of the offering and the
terms of the offering itself. We may also authorize one or more free writing prospectuses that may contain material information relating
to these offerings. The terms in such prospectus supplement or free writing prospectus may vary from the terms described in this prospectus.
As a result, the summary description of the debt securities in this prospectus is subject to, and qualified by reference to, the descriptions
of the particular terms of any debt securities contained in any related prospectus supplement. The prospectus supplement or free writing
prospectus may also add, update or change information contained in this prospectus. You should read both this prospectus and any related
prospectus supplement or free writing prospectus together with the additional information described under the headings &ldquo;Where You
Can Find More Information&rdquo; and &ldquo;Incorporation of Certain Documents by Reference&rdquo; prior to purchasing any of the debt
securities offered by this prospectus. However, if there are any inconsistencies between the information contained herein and the information
contained in an accompanying prospectus supplement or free writing prospectus, the information in the prospectus supplement or free writing
prospectus, as applicable, shall prevail. Each prospectus supplement will be filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As used in this prospectus, the &ldquo;Group&rdquo;
and &ldquo;WPP Group&rdquo; refer to WPP plc and its consolidated subsidiaries; the &ldquo;Issuers&rdquo; refers collectively to WPP Finance
2010 and WPP 2025 LLC, excluding their respective subsidiaries and affiliates; the &ldquo;Subsidiary Guarantors&rdquo; refers to WPP Jubilee
Limited and WPP 2005 Limited, excluding their respective subsidiaries and affiliates; and the &ldquo;Parent Guarantor&rdquo; refers to
WPP plc, excluding its subsidiaries and affiliates. References to the &ldquo;Guarantors&rdquo; refers collectively to the Parent Guarantor
and the Subsidiary Guarantors, in each case unless the context otherwise requires or unless otherwise specified. References to &ldquo;we&rdquo;,
&ldquo;our&rdquo; and &ldquo;us&rdquo; refer to the Issuers and WPP plc, collectively, in each case unless the context otherwise requires
or unless otherwise specified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">References
to &ldquo;U.S. Dollars,&rdquo; &ldquo;USD,&rdquo; &ldquo;US$&rdquo; and &ldquo;$&rdquo; in this prospectus are to United States dollars,
the legal currency of the United States. Discrepancies in any table between totals and sums of the amounts listed are due to rounding.
Certain amounts and percentages have been rounded; consequently, certain figures may add up to be more or less than the total amount and
certain percentages may add up to be more or less than 100% due to rounding. In particular and without limitation, amounts expressed in
millions contained in this prospectus have been rounded to a single decimal place for the convenience of readers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">WPP plc
publishes its consolidated financial statements in pounds sterling (&ldquo;&pound;&rdquo; or &ldquo;sterling&rdquo;), the lawful currency
of the United Kingdom.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Risk Factors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Investing in the debt securities offered using
this prospectus and any applicable prospectus supplement or free writing prospectus involves risk. Before you make a decision to buy such
debt securities, we urge you to carefully review the risks described under &ldquo;Risk Factors&rdquo; in our Annual Report on Form 20-F
for the fiscal year ended December 31, 2025, which is incorporated by reference in this prospectus, and any risk factors described in
or incorporated by reference in the applicable prospectus supplement or any free writing prospectus or similar sections in any documents
incorporated by reference in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Where You Can
Find More Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We file or furnish annual reports and other
information with or to the SEC that you may obtain through the SEC&rsquo;s EDGAR electronic filing system on the SEC&rsquo;s website,
at http://www.sec.gov. The address of the SEC&rsquo;s internet site is provided solely for the information of prospective investors and
is not intended to be an active link. Other documents establishing the terms of the offered debt securities are or may be filed as exhibits
to the registration statement or documents incorporated by reference in the registration statement. Statements in this prospectus or any
prospectus supplement or free writing prospectus about these documents are summaries and each statement is qualified in all respects by
reference to the document to which it refers. You should refer to the actual documents for a more complete description of the relevant
matters. You may inspect a copy of the registration statement through the SEC&rsquo;s website, as provided above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Incorporation
of Certain Documents by Reference</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The SEC allows us to &ldquo;incorporate by reference&rdquo;
the information we file with or furnish to it, which means that we can disclose important information to you by referring you to those
documents. The information incorporated by reference is considered to be part of this prospectus, and certain later information that we
file with or furnish to the SEC may automatically update and supersede earlier information filed with or furnished to the SEC or included
in this prospectus or a prospectus supplement. We incorporate by reference the following documents:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><A HREF="http://www.sec.gov/Archives/edgar/data/806968/000162828026019643/wpp-20251231.htm">WPP plc&rsquo;s annual report on Form 20-F for the year ended December 31, 2025, filed with the SEC on March 19, 2026 (the &ldquo;2025 Annual Report&rdquo;)</A>;</TD></TR></TABLE>





<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>any future annual reports on Form 20-F that WPP plc files with the SEC after the date of this prospectus, and prior to the termination
of the offering of the securities offered by this prospectus; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>any future reports on Form 6-K that WPP plc files or furnishes to the SEC after the date of this prospectus that are identified in
such reports as being incorporated by reference in this prospectus.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">You can obtain any of the documents incorporated
by reference in this prospectus through us, or from the SEC. Documents incorporated by reference are available from us without charge,
excluding all exhibits unless an exhibit has been specifically incorporated by reference into this prospectus, by requesting them in writing
or by telephone from us at the following address: Sea Containers, 18 Upper Ground, London SE1 9GL, United Kingdom, Telephone; +44 (0)
20 7282 4600.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Cautionary Statements
Concerning Forward-Looking Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Except for historical statements and discussions,
statements contained or incorporated by reference in this prospectus constitute &ldquo;forward-looking statements&rdquo; within the meaning
of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Exchange Act. Other documents of WPP plc filed with or
furnished to the SEC, including those incorporated by reference in this prospectus, may also include forward-looking statements, and other
written or oral forward-looking statements have been made and may in the future be made from time to time by us or on our behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">These forward-looking statements may include,
among other things, plans, objectives, beliefs, intentions, strategies, projections and anticipated future economic performance based
on assumptions and the like that are subject to risks and uncertainties. These statements can be identified by the fact that they do not
relate strictly to historical or current facts. They use words such as &lsquo;aim&rsquo;, &lsquo;anticipate&rsquo;, &lsquo;believe&rsquo;,
&lsquo;estimate&rsquo;, &lsquo;expect&rsquo;, &lsquo;forecast&rsquo;, &lsquo;guidance&rsquo;, &lsquo;intend&rsquo;, &lsquo;may&rsquo;,
&lsquo;will&rsquo;, &lsquo;should&rsquo;, &lsquo;potential&rsquo;, &lsquo;possible&rsquo;, &lsquo;predict&rsquo;, &lsquo;project&rsquo;,
&lsquo;plan&rsquo;, &lsquo;target&rsquo;, and other words and similar references to future periods but are not the exclusive means of
identifying such statements. As such, all forward-looking statements involve risk and uncertainty because they relate to future events
and circumstances that are beyond our control. Actual results or outcomes may differ materially from those discussed or implied in the
forward-looking statements. Therefore, you should not rely on such forward-looking statements, which speak only as of the date they are
made, as a prediction of actual results or otherwise. Important factors which may cause actual results to differ include but are not limited
to those described under &ldquo;Forward-Looking Statements&rdquo; before Item 1 and in Item 3D, captioned &ldquo;Risk Factors&rdquo; in
the Group&rsquo;s most recent Annual Report on Form 20-F. In light of these and other uncertainties, the forward-looking statements included
in this document should not be regarded as a representation by the Group that the Group&rsquo;s plans and objectives will be achieved.
Neither the Group, nor any of its directors, officers or employees, provides any representation, assurance or guarantee that the occurrence
of any events anticipated, expressed or implied in any forward-looking statements will actually occur. Other than in accordance with its
legal or regulatory obligations (including under the Market Abuse Regulation, the UK Listing Rules and the Disclosure and Transparency
Rules of the Financial Conduct Authority), the Group undertakes no obligation to update or revise any such forward-looking statements,
whether as a result of new information, future events or otherwise. This discussion is provided as permitted by the U.S. Private Securities
Litigation Reform Act of 1995.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">The Issuers
and The Guarantors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The Group&rsquo;s organizational
structure brings together media intelligence, data solutions, creative services, production capabilities, enterprise solutions and strategic
counsel on a national, multinational and global scale. In February 2026, the Group announced the simplification of its structure into
four operating units: WPP Media, WPP Production, WPP Enterprise Solutions and WPP Creative.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The Issuers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP Finance 2010 was incorporated on October
26, 2010, and is a private unlimited liability company incorporated under the laws of England and Wales (company number 07419716). It
is an indirect, wholly owned subsidiary of WPP plc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP 2025 LLC was incorporated on August 6, 2025,
and is a limited liability company incorporated under the laws of Delaware. WPP 2025 LLC&rsquo;s registered office is located at Corporate
Creations Network Inc., 1521 Concord Pike, Suite 201, Wilmington DE 19803, United States. It is an indirect, wholly owned subsidiary of
WPP plc.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The Guarantors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP plc was incorporated on October 25, 2012,
as a public company limited by shares under the laws of Jersey (registration number 111714) and became the ultimate parent of the Group
on January 2, 2013, in connection with the re-domiciliation of the Group to the United Kingdom for UK income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP Jubilee Limited was incorporated on
November 8, 2012, as a private limited company under the laws of  England and Wales (company number 08286875). WPP Jubilee
Limited&rsquo;s registered office is located at Sea Containers House, 18 Upper Ground, London SE1 9GL, United Kingdom. It is an
indirect, wholly owned subsidiary of WPP plc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP 2005 Limited (formerly WPP Group plc) was
incorporated on March 1, 1971, and is now a private limited company incorporated under the laws of England and Wales (company number 01003653).
WPP 2005 Limited&rsquo;s registered office is located at Sea Containers House, 18 Upper Ground, London SE1 9GL, United Kingdom. It is
an indirect, wholly owned subsidiary of WPP plc. WPP 2005 Limited was the ultimate parent of the Group until October 25, 2005.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Use of Proceeds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Unless otherwise disclosed in connection with
a particular offering of securities in a prospectus supplement, we intend to use the net proceeds from the sale of the debt securities
for general corporate purposes of the Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Description
of Debt Securities and Guarantees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">We may offer from time to time debt securities
of any of the Issuers and guarantees thereof by the Guarantors. We will set forth in the applicable prospectus supplement or other offering
material a description of the debt securities and guarantees which may be offered under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Taxation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The applicable prospectus supplement or free
writing prospectus will describe certain United Kingdom, United States federal income tax and Jersey tax considerations, if applicable,
to a particular series of debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Experts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The financial statements as of December
31, 2025 and December 31, 2024 and for each of the years ended December 31, 2025 and December 31, 2024 and
management&rsquo;s assessment of the effectiveness of internal control over financial reporting (which is included in
Management&rsquo;s Report on Internal Control over Financial Reporting) as of December 31, 2025 incorporated in this prospectus by
reference to the Annual Report on Form 20-F for the year ended December 31, 2025 have been so incorporated in reliance on the report
of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in
auditing and accounting. PricewaterhouseCoopers LLP is a member of the Institute of Chartered Accountants in England and Wales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The financial statements for the year ended December 31, 2023, incorporated by reference in this prospectus, have been audited by Deloitte LLP, an independent
registered public accounting firm, as stated in their report. Such financial statements are incorporated by reference in reliance upon
the report of such firm, given their authority to act as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Legal Matters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Certain legal matters with respect to United
States, New York, Delaware and English law will be passed upon for us by Allen Overy Shearman Sterling LLP. Certain legal matters with
respect to Jersey law will be passed upon by Mourant Ozannes (Jersey) LLP regarding the guarantees of WPP plc. If counsel for any underwriter,
dealers or agent passes on legal matters in connection with an offering made by this prospectus, we will name that counsel in the prospectus
supplement relating to the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Enforceability
of Civil Liabilities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP Finance 2010 is a private unlimited liability
company incorporated under the laws of England and Wales. WPP 2025 LLC is a private limited liability company incorporated under the laws
of Delaware. WPP plc is a public company limited by shares incorporated under the laws of Jersey. WPP Jubilee Limited and WPP 2005 Limited
are private limited liability companies incorporated under the laws of England and Wales. Some of the directors and officers of the Issuers
and the Guarantors, and certain of the experts named herein, reside outside of the United States. In addition, a substantial portion of
the Issuers&rsquo; and the Guarantors&rsquo; assets are located outside of the United States. As a result, it may be difficult or impossible
for investors to effect service of process within the United States against the Issuers and the Guarantors or their respective directors
and officers and certain experts or to enforce against any of them judgments, including those obtained in original actions or in actions
to enforce judgments of the U.S. courts, predicated upon the civil liability provisions of the U.S. federal securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Issuers and the Guarantors have expressly
submitted to the non-exclusive jurisdiction of the U.S. federal or state courts sitting in the Borough of Manhattan, The City of New York
for the purpose of any suit, action or procedure to enforce the debt securities or the related guarantees and have appointed Corporate
Creations Network Inc., 600 Mamaroneck Avenue, #400 Harrison, NY 10528, United States to accept service of process in any such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">PART II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>INFORMATION NOT REQUIRED
IN THE PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>Item 8. Indemnification of Directors and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP 2025 LLC&rsquo;s Operating Agreement provides:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&ldquo;Neither the Shareholder, any
Manager nor any officer of the Company (each, an &ldquo;Indemnified Party&rdquo;) shall be liable to the Company for any loss,
damage or claim incurred by reason of any act or omission performed or omitted by the Indemnified Party in good faith on behalf of
the Company and in a manner reasonably believed to be within the scope of the authority conferred on the Indemnified Party by this
Agreement, except that the Indemnified Party shall be liable for any such loss, damage or claim incurred by reason of the
Indemnified Party&rsquo;s willful misconduct or gross negligence. To the fullest extent permitted by applicable law, the Indemnified
Party shall be entitled to indemnification from the Company for any loss damage or claim incurred by the Indemnified Party by reason
of any act or omission performed or omitted by the Indemnified Party in good faith on behalf of the Company and in a manner
reasonably believed to be within the scope of the authority conferred on the Indemnified Party, except that the Indemnified Party
shall not be entitled to be indemnified in respect of any loss, damage, or claim incurred by the Indemnified Party by reason of
willful misconduct or gross negligence with respect to such acts or omissions; provided, however, that any indemnity under this
Article IV shall be provided out of and to the extent of Company assets only, and the Shareholder shall not have any liability on
account thereof. Notwithstanding anything herein to the contrary, the indemnification afforded herein shall be subject to, and no
broader than permitted by, the laws of Delaware and all laws applicable to WPP plc and its subsidiaries, including, without
limitation, the Companies Act 2006 of England and Wales and all applicable limitations set forth therein, in the absence of the
approval of the Shareholder.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Article 148 of WPP plc&rsquo;s Articles of Association
provides:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&ldquo;As far as the legislation allows, the
Company may:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>indemnify any director of the Company (or of an associated body corporate) against any liability;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>indemnify a director of a company that is a trustee of an occupational pension scheme for employees (or former employees) of the Company
(or of an associated body corporate) against liability incurred in connection with the company&rsquo;s activities as trustee of the scheme;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>purchase and maintain insurance against any liability for any director referred to in (a) or (b) above; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>provide any director referred to in (a) or (b) above with funds (whether by loan or otherwise) to meet expenditure incurred or to
be incurred by them in defending any criminal, regulatory or civil proceedings or in connection with an application for relief (or to
enable any such director to avoid incurring such expenditure).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The powers given by this article shall not limit
any general powers of the Company to grant indemnities, purchase and maintain insurance or provide funds (whether by way of loan or otherwise)
to any person in connection with any legal or regulatory proceedings or applications for relief.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Article 52 of WPP Jubilee Limited&rsquo;s Articles
of Association provides:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&ldquo;(1)</TD><TD>Subject to paragraph (2), a relevant director of the company or an associated company may be indemnified out of the company&rsquo;s
assets against&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>any liability incurred by that director in connection with any negligence, default, breach of duty or breach of trust in relation
to the company or an associated company,</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>any liability incurred by that director in connection with the activities of the company or an associated company in its capacity
as a trustee of an occupational pension scheme (as defined in section 235(6) of the Companies Act 2006),</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>any other liability incurred by that director as an officer of the company or an associated company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>This article does not authorise any indemnity which would be prohibited or rendered void by any provision of the Companies Acts or
by any other provision of law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>In this article&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>companies are associated if one is a subsidiary of the other or both are subsidiaries of the same body corporate, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>a &ldquo;relevant director&rdquo; means any director or former director of the company or an associated company.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">References to the &ldquo;Companies Acts&rdquo;
in Article 52 above are to the company law provisions of the Companies Act 2006; Part 2 of the Companies (Audit, Investigations and Community
Enterprise) Act 2004 (c. 27) (community interest companies), and the provisions of the Companies Act 1985 (c. 6) and the Companies Consolidation
(Consequential Provisions) Act 1985 (c. 9) that remain in force, in so far as they apply to WPP Jubilee Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Model Article 52 (incorporated into WPP 2005
Limited&rsquo;s Articles of Association pursuant to Article 1.1) provides:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&ldquo;(1)</TD><TD>Subject to paragraph (2), a relevant director of the company or of an associated company may be indemnified out of the company&rsquo;s
assets against:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>any liability incurred by that director in connection with any negligence, default, breach of duty or breach of trust in relation
to the company or an associated company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>any liability incurred by that director in connection with the activities of the company or an associated company in its capacity
as a trustee of an occupational pension scheme (as defined in section 235(6) of the Companies Act);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>any other liability incurred by that director as an officer of the company or an associated company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>This article does not authorise any indemnity which would be prohibited or rendered void by any provision of the Companies Act or
by any other provision of law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>In this article:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>companies are associated if one is a subsidiary of the other or both are subsidiaries of the same body corporate; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>a &ldquo;relevant director&rdquo; means any director or former director of the Company or of an associated company.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">References to the &ldquo;Companies Acts&rdquo;
in Article 52 above are to the company law provisions of the Companies Act 2006; Part 2 of the Companies (Audit, Investigations and Community
Enterprise) Act 2004 (c. 27) (community interest companies), and the provisions of the Companies Act 1985 (c. 6) and the Companies Consolidation
(Consequential Provisions) Act 1985 (c. 9) that remain in force, in so far as they apply to WPP 2005 Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Articles 77 and 212 of the Companies (Jersey)
Law 1991 (as amended), applicable to WPP plc, provide as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;77. Indemnity of officers and former
officers</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Subject to paragraphs (2) and (3), any provision, whether contained in the articles of, or in a contract with, a company or otherwise,
whereby the company or any of its subsidiaries or any other person, for some benefit conferred or detriment suffered directly or indirectly
by the company, agrees to exempt any person from, or indemnify any person against, any liability which by law would otherwise attach to
the person by reason of the fact that the person is or was an officer of the company shall be void.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>Paragraph (1) does not apply to a provision for exempting a person from or indemnifying the person against:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>any liabilities incurred in defending any proceedings (whether civil or criminal)&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>in which judgment is given in the person&rsquo;s favour or the person is acquitted,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>which are discontinued otherwise than for some benefit conferred by the person or on the person&rsquo;s behalf or some detriment suffered
by the person, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>which are settled on terms which include such benefit or detriment and, in the opinion of a majority of the directors of the company
(excluding any director who conferred such benefit or on whose behalf such benefit was conferred or who suffered such detriment), the
person was substantially successful on the merits in the person&rsquo;s resistance to the proceedings;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>any liability incurred otherwise than to the company if the person acted in good faith with a view to the best interests of the company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>any liability incurred in connection with an application made under Article 212 in which relief is granted to the person by the court;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>any liability against which the company normally maintains insurance for persons other than directors.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>Nothing in this Article shall deprive a person of any exemption or indemnity to which the person was lawfully entitled in respect
of anything done or omitted by the person before the coming into force of this Article.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>This Article does not prevent a company from purchasing and maintaining for any such officer insurance against any such liability.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;212 Power of court to grant relief in
certain cases</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>If in proceedings for negligence, default, breach of duty or breach of trust against an officer of a company or a person employed
by a company as auditor it appears to the court that that officer or person is or may be liable in respect of the negligence, default,
breach of duty or breach of trust, but that the person has acted honestly and that having regard to all the circumstances of the case
(including those connected with his or her appointment) he or she ought fairly to be excused for the negligence, default, breach of duty
or breach of trust, the court may relieve the person, either wholly or partly, from his or her liability on such terms as it thinks fit.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>If an officer or person mentioned in paragraph (1) has reason to apprehend that a claim will or might be made against the person in
respect of negligence, default, breach of duty or breach of trust, he or she may apply to the court for relief; and the court on the application
has the same power to relieve the person as it would have had if proceedings against him or her for negligence, default, breach of duty
or breach of trust had been brought.&rdquo;</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">WPP plc maintains an insurance policy for its
directors and officers in respect of liabilities arising from any act, error or omission while acting in their capacities as directors
or officers of WPP plc or any associated company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Sections 232&mdash;235 and Section 1157 of the
Companies Act 2006 of England and Wales, applicable to WPP Finance 2010, WPP Jubilee Limited and WPP 2005 Limited, provide as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;232 Provisions protecting directors
from liability</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Any provision that purports to exempt a director of a company (to any extent) from any liability that would otherwise attach to him
in connection with any negligence, default, breach of duty or breach of trust in relation to the company is void.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>Any provision by which a company directly or indirectly provides an indemnity (to any extent) for a director of the company, or of
an associated company, against any liability attaching to him in connection with any negligence, default, breach of duty or breach of
trust in relation to the company of which he is a director is void, except as permitted by&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>section 233 (provision of insurance),</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>section 234 (qualifying third party indemnity provision), or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>section 235 (qualifying pension scheme indemnity provision).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>This section applies to any provision, whether contained in a company&rsquo;s articles or in any contract with the company or otherwise.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>Nothing in this section prevents a company&rsquo;s articles from making such provision as has previously been lawful for dealing with
conflicts of interest.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;233 Provision of insurance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Section 232(2) (voidness of provisions for indemnifying
directors) does not prevent a company from purchasing and maintaining for a director of the company, or of an associated company, insurance
against any such liability as is mentioned in that subsection.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;234 Qualifying third-party indemnity
provision</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Section 232(2) (voidness of provisions for indemnifying directors) does not apply to qualifying third party indemnity provision.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>Third party indemnity provision means provision for indemnity against liability incurred by the director to a person other than the
company or an associated company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0in">Such provision is qualifying third party
indemnity provision if the following requirements are met.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>The provision must not provide any indemnity against&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>any liability of the director to pay&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>a fine imposed in criminal proceedings, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement of a regulatory nature
(however arising); or</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>any liability incurred by the director&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>in defending criminal proceedings in which he is convicted, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>in defending civil proceedings brought by the company, or an associated company, in which judgment is given against him, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>in connection with an application for relief (see subsection (6)) in which the court refuses to grant him relief.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>The references in subsection (3)(b) to a conviction, judgment or refusal of relief are to the final decision in the proceedings.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD>For this purpose&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>a conviction, judgment or refusal of relief becomes final&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>if not appealed against, at the end of the period for bringing an appeal, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>if appealed against, at the time when the appeal (or any further appeal) is disposed of; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>an appeal is disposed of&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>if it is determined and the period for bringing any further appeal has ended, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>if it is abandoned or otherwise ceases to have effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
reference in subsection (3)(b)(iii) to an application for relief is to an application for relief under&mdash; section 661(3) or (4) (power
of court to grant relief in case of acquisition of shares by innocent nominee), or section 1157 (general power of court to grant relief
in case of honest and reasonable conduct).&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;235 Qualifying pension scheme indemnity
provision</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Section 232(2) (voidness of provisions for indemnifying directors) does not apply to qualifying pension scheme indemnity provision.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>Pension scheme indemnity provision means provision indemnifying a director of a company that is a trustee of an occupational pension
scheme against liability incurred in connection with the company&rsquo;s activities as trustee of the scheme.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0in">Such provision is qualifying pension scheme
indemnity provision if the following requirements are met.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>The provision must not provide any indemnity against&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>any liability of the director to pay&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>a fine imposed in criminal proceedings, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement of a regulatory nature
(however arising); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>any liability incurred by the director in defending criminal proceedings in which he is convicted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>The reference in subsection (3)(b) to a conviction is to the final decision in the proceedings.</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD>For this purpose&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>a conviction becomes final&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>if not appealed against, at the end of the period for bringing an appeal, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>if appealed against, at the time when the appeal (or any further appeal) is disposed of; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>an appeal is disposed of&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>if it is determined and the period for bringing any further appeal has ended, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>if it is abandoned or otherwise ceases to have effect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD>In this section &ldquo;occupational pension scheme&rdquo; means an occupational pension scheme as defined in section 150 (5) of the
Finance Act 2004 (c. 12) that is established under a trust.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>&ldquo;1157 Power of court to grant relief
in certain cases</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>If in proceedings for negligence, default, breach of duty or breach of trust against&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>an officer of a company, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>a person employed by a company as auditor (whether he is or is not an officer of the company),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0in">it appears to the court hearing the case that
the officer or person is or may be liable but that he acted honestly and reasonably, and that having regard to all the circumstances of
the case (including those connected with his appointment) he ought fairly to be excused, the court may relieve him, either wholly or in
part, from his liability on such terms as it thinks fit.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>If any such officer or person has reason to apprehend that a claim will or might be made against him in respect of negligence, default,
breach of duty or breach of trust&mdash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>he may apply to the court for relief, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>the court has the same power to relieve him as it would have had if it had been a court before which proceedings against him for negligence,
default, breach of duty or breach of trust had been brought.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>Where a case to which subsection (1) applies is being tried by a judge with a jury, the judge, after hearing the evidence, may, if
he is satisfied that the defendant (in Scotland, the defender) ought in pursuance of that subsection to be relieved either in whole or
in part from the liability sought to be enforced against him, withdraw the case from the jury and forthwith direct judgment to be entered
for the defendant (in Scotland, grant decree of absolvitor) on such terms as to costs (in Scotland, expenses) or otherwise as the judge
may think proper.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>Item 9. Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Reference is made to the Exhibit Index included
herewith which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in"><B>Item 10. Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the undersigned registrants hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth
in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration
Fee&rdquo; table in the effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in"><I>provided, however</I>, that paragraphs
(a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the SEC by the registrant pursuant to section 13 or section
15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement or is contained in a form
of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at
the termination of the offering;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A. of Form
20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required
by Section 10(a)(3) of the Securities Act of 1933, need not be furnished, <I>provided</I>, that the registrant includes in the prospectus,
by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary
to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding
the foregoing, a post-effective amendment need not be filed to include financial statements and information required by section 10(a)(3)
of the Securities Act of 1933, or Item 8.A. of Form 20-F if such financial statements and information are contained in periodic reports
filed with or furnished to the SEC by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that
are incorporated by reference in this registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(5)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>That, for the purpose of determining liability under the Securities Act of 1933, to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as
of the date the filed prospectus was deemed part of and included in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of the registration statement in reliance
on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required
by section (10)(a) of the Securities Act of 1933, shall be deemed to be part of and included in the registration statement as of the
earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities
in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at
that date an underwriter, such date shall be deemed to be the new effective date of the registration statement relating to the securities
in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof; <I>provided, however</I>, that no statement made in a registration statement or prospectus
that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such
effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
statement or made in any such document immediately prior to such effective date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(6)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>That, for the purpose of determining liability of the registrants under the Securities Act of 1933, to any purchaser in the initial
distribution of the securities, each undersigned registrant undertakes that in a primary offering of securities of such registrant pursuant
to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, such registrant will be a seller to the purchaser
and will be considered to offer or sell such securities to such purchaser: (i) any preliminary prospectus or prospectus of the registrant
relating to the offering required to be filed pursuant to Rule 424; (ii) any free writing prospectus relating to the offering prepared
by or on behalf of the registrant or used or referred to by the registrant; (iii) the portion of any other free writing prospectus relating
to the offering containing material information about the registrant or its securities provided by or on behalf of the registrant; and
(iv) any other communication that is an offer in the offering made by the registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the undersigned registrants hereby undertakes that, for purposes of determining any liability under the Securities Act
of 1933, each filing of the registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934
that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Insofar as indemnification for liabilities arising under the Securities Act of 1933, may be permitted to directors, officers and
controlling persons of each of the registrants pursuant to the foregoing provisions, or otherwise, each of the registrants has been advised
that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act of 1933, and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by a registrant of expenses
incurred or paid by a director, officer or controlling person of such registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, such registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933, and will be governed
by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>SIGNATURES OF WPP FINANCE
2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in London,
England, on March 19, 2026.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">WPP FINANCE 2010</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/S/ Alexander Ashby</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>Name:</B></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Alexander Ashby</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><B>Title:</B></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Director</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>Power of Attorney</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENT, that each person
whose signature appears below hereby constitutes and appoints Joanne Wilson, Balbir Kelly-Bisla, Andrea Harris and Mark Povey, jointly
and severally, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, for him or
her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments,
and supplements to this Registration Statement on Form F-3 (and any and all additional registration statements, including registration
statements filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended), and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as they or he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Act
of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated, on March
19, 2026.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B><U>Signature</U></B></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B><U>Title</U></B></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B><U></U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Alexander Ashby</FONT></P></TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Director </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>Alexander Ashby</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Paul New</P></TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Director</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>Paul New</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>SIGNATURES OF WPP 2025
LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in New York,
United States, on March
19, 2026.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">WPP 2025 LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/S/ Paul Stasiulis</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><B>Name:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><B>Paul Stasiulis</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><B>Title:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><B>Manager </B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>Power of Attorney</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENT, that each person
whose signature appears below hereby constitutes and appoints Alexander Ashby, Joanne Wilson, Balbir Kelly-Bisla, Andrea Harris and Mark
Povey, jointly and severally, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution,
for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective
amendments, and supplements to this Registration Statement on Form F-3 (and any and all additional registration statements, including
registration statements filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended), and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact
and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as they or he or she might or could do in person, hereby ratifying and confirming all that
said attorneys-in-fact and agents, or any of them or their or his or her substitute or substitutes, may lawfully do or cause to be done
by virtue thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated, on
March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&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 STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Signature</U></B></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Title</U></B></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U></U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Paul Stasiulis</P></TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Manager</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Paul Stasiulis </B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Thomas Graziano</P></TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Manager</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Thomas Graziano</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>SIGNATURES OF WPP PLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in London,
England, on March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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-right: 5.4pt; padding-left: 5.4pt">WPP PLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Joanne Wilson</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Name:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Joanne Wilson</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Title:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Director</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>Power of Attorney</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENT, that each person
whose signature appears below hereby constitutes and appoints Alexander Ashby, Balbir Kelly-Bisla, Andrea Harris and Mark Povey, jointly
and severally, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, for him or
her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments,
and supplements to this Registration Statement on Form F-3 (and any and all additional registration statements, including registration
statements filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended), and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as they or he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated, on
March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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 STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Signature</U></B></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Title</U></B></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U></U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
    Cindy Rose</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Group Chief Executive Officer</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Cindy Rose</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Joanne Wilson</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Group Chief Financial Officer</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Joanne Wilson</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Philip Jansen</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Non-Executive Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Philip Jansen</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Tom Ilube</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Non-Executive Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Tom Ilube</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Jasmine Whitbread</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Non-Executive Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Jasmine Whitbread</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Sandrine Dufour</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Non-Executive Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Sandrine Dufour</B></TD></TR>
    <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Keith Weed</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Non-Executive Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Keith Weed</B></TD></TR>
    <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Simon Dingemans</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Non-Executive Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Simon Dingemans</B></TD></TR>
</TABLE>

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

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

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

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

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

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>SIGNATURES OF WPP 2005
LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in London,
England, on March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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-right: 5.4pt; padding-left: 5.4pt">WPP 2005 LIMITED</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/S/ Alexander Ashby</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Name:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Alexander Ashby</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Title:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Director</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>Power of Attorney</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENT, that each person
whose signature appears below hereby constitutes and appoints Joanne Wilson, Balbir Kelly-Bisla, Andrea Harris and Mark Povey, jointly
and severally, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, for him or
her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments,
and supplements to this Registration Statement on Form F-3 (and any and all additional registration statements, including registration
statements filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended), and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as they or he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated, on
March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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 STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Signature</U></B></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Title</U></B></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U></U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Alexander Ashby</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Director </TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Alexander Ashby</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Paul New</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Paul New</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>SIGNATURES OF WPP JUBILEE
LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in London,
England, on March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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-right: 5.4pt; padding-left: 5.4pt">WPP JUBILEE LIMITED</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/S/ Alexander Ashby</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Name:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Alexander Ashby</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Title:</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Director</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><A NAME="poa"></A><B>Power of Attorney</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENT, that each person
whose signature appears below hereby constitutes and appoints Joanne Wilson, Balbir Kelly-Bisla, Andrea Harris and Mark Povey, jointly
and severally, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, for him or
her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments,
and supplements to this Registration Statement on Form F-3 (and any and all additional registration statements, including registration
statements filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended), and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as they or he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities indicated, on
March
19, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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 STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Signature</U></B></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U>Title</U></B></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><U></U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Alexander Ashby</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Director </TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Alexander Ashby</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">/s/
Paul New</P></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">Director</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Paul New</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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="width: 10%; padding-top: 12pt; padding-right: 5.4pt; text-align: center; text-indent: 0in"><B>Exhibit<BR>
<U>Number</U></B></TD>
    <TD STYLE="width: 90%; padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in; text-align: center"><B><U>Description of Exhibit</U></B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">1.</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex01.htm">Form of Underwriting Agreement</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">4.1</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0401.htm">Form of Indenture among WPP
    Finance 2010, WPP 2025 LLC, WPP plc, WPP Jubilee Limited, WPP 2005 Limited, and Wilmington Trust, National Association, as trustee
    and Citibank, N.A., as registrar and paying agent.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">4.2</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0401.htm">Form of debt security (included in Exhibit 4.1).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">4.3</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0401.htm">Form of guarantee (included in Exhibit 4.1).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">5.1</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0501.htm">Opinion of Allen Overy Shearman Sterling LLP as to matters of US law.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">5.2</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0502.htm">Opinion of Allen Overy Shearman Sterling LLP as to matters of English law.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">5.3</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0503.htm">Opinion of Mourant Ozannes (Jersey) LLP as to matters of Jersey law.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">23.1</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex2301.htm">Consent of PricewaterhouseCoopers LLP.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">23.2</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex2302.htm">Consent of Deloitte LLP.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">23.3</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0501.htm">Consent of Allen Overy Shearman Sterling LLP (included in Exhibit 5.1)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">23.4</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0502.htm">Consent of Allen Overy Shearman Sterling LLP (included in Exhibit 5.2)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">23.5</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex0503.htm">Consent of Mourant Ozannes (Jersey) LLP (included in Exhibit 5.3).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">24.1</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="#poa">Powers of attorney (included in the signature pages of this registration statement).</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">25.1</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in"><A HREF="ss5271995_ex2501.htm">Form T-1 Statement of Eligibility Under the Trust Indenture Act of 1939 of Wilmington Trust, National Association.</A>*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">107</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; text-indent: 0in">Filing Fee Table.</TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">____________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2pt 0 0">* Filed herewith</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in">&nbsp;</P>
<P STYLE="margin: 0pt">&nbsp;</P>
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<DESCRIPTION>FORM OF UNDERWRITING AGREEMENT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 1</B></P>

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">FORM OF
UNDERWRITING AGREEMENT</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">[ISSUER]</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">U.S.$[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">[&nbsp;&nbsp;&nbsp;&nbsp;]% Senior Notes Due 20[&nbsp;&nbsp;&nbsp;&nbsp;]</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">Fully and Unconditionally Guaranteed by</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">WPP plc</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">WPP 2005 Limited and WPP Jubilee Limited</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
20[&nbsp;&nbsp;&nbsp;&nbsp;]</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">[REPRESENTATIVES]</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">As for themselves and as Representatives</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">of the other several Underwriters listed</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">on Schedule 1 hereto</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">Ladies and Gentlemen:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">[ISSUER], a [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]
incorporated in [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (the &ldquo;Issuer&rdquo;), proposes to issue
and sell to the several underwriters named in Schedule 1 hereto (the &ldquo;Underwriters&rdquo;), for whom you are acting as representatives
(the &ldquo;Representatives&rdquo;), U.S.$[&nbsp;&nbsp;&nbsp;&nbsp;,&nbsp;&nbsp;&nbsp;&nbsp;,&nbsp;&nbsp;&nbsp;&nbsp;] aggregate principal
amount of its [&nbsp;&nbsp;&nbsp;&nbsp;]% Senior Notes Due 20[&nbsp;&nbsp;&nbsp;&nbsp;] (the &ldquo;Notes&rdquo;). The Notes will be fully
and unconditionally guaranteed (the &ldquo;Guarantees&rdquo;) by WPP plc, a public limited company incorporated in Jersey (the &ldquo;Parent
Guarantor&rdquo;), WPP 2005 Limited, a private limited company incorporated in England and Wales and WPP Jubilee Limited, a private limited
company incorporated in England and Wales (collectively with the Parent Guarantor, the &ldquo;Guarantors&rdquo;). The Notes and the Guarantees
are referred to collectively as the &ldquo;Securities.&rdquo;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">The Securities will be issued under an indenture (the &ldquo;Base Indenture&rdquo;),
dated as of [&nbsp;&nbsp;], 20[&nbsp;&nbsp;], among the Issuer, the Guarantors, Citibank, N.A., a national banking association, as registrar
and paying agent (the &ldquo;Registrar and Paying Agent&rdquo;) and Wilmington Trust, National Association, a national banking association,
as trustee (the &ldquo;Trustee&rdquo;), as supplemented by the Supplemental Indenture dated as of the Closing Date (as defined below)
(the Base Indenture as so supplemented being referred to as the &ldquo;Indenture&rdquo;). To the extent there are no additional Underwriters
listed on Schedule 1 other than you, the term &ldquo;Representatives&rdquo; as used herein means you as Underwriters, and the terms &ldquo;Representatives&rdquo;
and &ldquo;Underwriters&rdquo; shall mean either the singular or plural as the context requires. The use of the neuter in this Agreement
shall include the feminine and masculine wherever appropriate. Any reference herein to the Registration Statement, the Base Prospectus,
any Preliminary Prospectus or the Final Prospectus shall be deemed to refer to and include the documents incorporated by reference therein
pursuant to Item&nbsp;6 of Form F-3 which were filed under the Exchange Act on or before the Effective Date of the Registration Statement
or the issue date of the Base Prospectus, any Preliminary Prospectus or the Final Prospectus, as the case may be; and any reference herein
to the terms &ldquo;amend,&rdquo; &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; with respect to the Registration Statement, the
Base Prospectus, any Preliminary Prospectus or the Final Prospectus shall be deemed to refer to and include the filing of any document
under the Exchange Act after the Effective Date of the Registration Statement or the issue date of the Base Prospectus, any Preliminary
Prospectus or the Final Prospectus, as the case may be, deemed to be incorporated therein by reference. Certain terms used herein that
are not defined in text are defined in Section&nbsp;22 hereof.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt"></P>

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<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Issuer and the Guarantors hereby confirm their
agreement with the several Underwriters concerning the purchase and sale of the Notes, as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Registration Statement</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Issuer has prepared and filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
under the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder (collectively, the &ldquo;Securities
Act&rdquo;), a registration statement on Form F-3ASR (File No. 333-[&nbsp;&nbsp;]), including a prospectus, relating to the Securities. Such registration
statement, as amended at the time it becomes effective, including the information, if any, deemed pursuant to Rule 430A, 430B or 430C
under the Securities Act to be part of the registration statement at the time of its effectiveness (&ldquo;Rule 430 Information&rdquo;),
is referred to herein as the &ldquo;Registration Statement&rdquo;; <FONT STYLE="letter-spacing: -0.15pt">and as used herein, the term
&ldquo;Preliminary Prospectus&rdquo; means each prospectus included in such registration statement (and any amendments thereto) before
it becomes effective, any prospectus filed with the Commission pursuant to Rule 424(a) under the Securities Act and the prospectus included
in the Registration Statement at the time of its effectiveness that omits Rule 430 Information, and the term &ldquo;Prospectus&rdquo;
means the </FONT>prospectus in the form first used (or made available upon request of purchasers pursuant to Rule 173 under the Securities
Act) in connection with confirmation of sales of the Securities. If the Issuer has filed an abbreviated registration statement pursuant
to Rule 462(b) under the Securities Act (the &ldquo;Rule 462 Registration Statement&rdquo;), then any reference herein to the term &ldquo;Registration
Statement&rdquo; shall be deemed to include such Rule 462 Registration Statement. Any reference in this Agreement to the Registration
Statement, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference
therein pursuant to Item 6 of Form F-3 under the Securities Act, as of the effective date of the Registration Statement or the date of
such Preliminary Prospectus or the Prospectus, as the case may be, and any reference to &ldquo;amend&rdquo;, &ldquo;amendment&rdquo; or
&ldquo;supplement&rdquo; with respect to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to refer
to and include any documents filed after such date under the Securities Exchange Act of 1934, as amended, and the rules and regulations
of the Commission thereunder (collectively, the &ldquo;Exchange Act&rdquo;), that are deemed to be incorporated by reference therein.
Capitalized terms used but not defined herein shall have the meanings given to such terms in the Registration Statement and the Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">At or prior to the time when sales of the Notes were first made (the &ldquo;Time of Sale&rdquo;),
                                                           the Issuer has prepared the following information (collectively, the &ldquo;Time of Sale Information&rdquo;): a Preliminary
                                                           Prospectus dated [&nbsp;&nbsp;], 20[&nbsp;&nbsp;] and each &ldquo;free-writing prospectus&rdquo; (as defined pursuant to Rule 405 under the
                                                           Securities Act) listed on Schedule 2 hereto as constituting part of the Time of Sale Information.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Purchase of Notes by the Underwriters</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Issuer agrees to issue and sell the Notes to the several Underwriters as provided in this Agreement,
and each Underwriter, in reliance on the representations, warranties and agreements set forth herein and subject to the conditions set
forth herein, agrees, severally and not jointly, to purchase from the Issuer the respective principal amount of the Notes set forth opposite
such Underwriter's name in Schedule 1 hereto at a price equal to [ ]% of the principal amount of the Notes, plus accrued interest, if
any, from [ ], 20[ ] to the Closing Date (as defined below). The Issuer will not be obligated to deliver any of the Notes except
upon payment for all the Notes to be purchased as provided herein.</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Issuer understands that the Underwriters intend to make a public offering of the Notes as soon
after the effectiveness of this Agreement as in the judgment of the Representatives is advisable, and initially to offer the Notes
on the terms set forth in the Time of Sale Information. The Issuer acknowledges and agrees that the Underwriters may offer and sell Notes
to or through any affiliate of an Underwriter and that any such affiliate may offer and sell Notes purchased by it to or through
any Underwriter.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Payment for and delivery of the Notes will be made at the offices of [ ], at [ ] at or around [ ]
                                                           A.M., New York City time, on [ ], 20[ ], or at such other time or place on the same or such other date, not later than the third
                                                           business day thereafter, as the Representatives and the Issuer may agree upon in writing. The time and date of such payment and
                                                           delivery is referred to herein as the &ldquo;Closing Date&rdquo;.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Payment for the Notes shall be made by wire transfer in immediately available funds to the account(s)
specified by the Issuer to the Representatives against delivery to the nominee of The Depository Trust Company, for the account of the
Underwriters, of one or more global notes representing the Notes (collectively, the &ldquo;Global Note&rdquo;), with any transfer taxes
payable in connection with the sale of the Notes from the Issuer to the Underwriters and the initial distribution by the Underwriters
duly paid by the Issuer. The Global Note will be made available for inspection by the Representatives not later than [ ], New York City
time, on the business day prior to the Closing Date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Issuer and the Guarantors acknowledge and agree that the Underwriters are acting solely in the capacity
of an arm&rsquo;s length contractual counterparty to the Issuer and the Guarantors with respect to the offering of Notes contemplated
hereby (including in connection with determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent
of, the Issuer, the Guarantors or any other person. Additionally, neither the Representatives nor any other Underwriter is advising the
Issuer, the Guarantors or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The
Issuer and the Guarantors shall consult with their own advisors concerning such matters and shall be responsible for making their own
independent investigation and appraisal of the transactions contemplated hereby, and the Underwriters shall have no responsibility or
liability to the Issuer or the Guarantors with respect thereto. Any review by the Underwriters of the Issuer, the transactions contemplated
hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriters and shall not be on
behalf of the Issuer, Guarantors or any other person. The Issuer agrees that it will not claim that the Underwriters have rendered advisory
services of any nature or respect, or owe an agency, fiduciary or similar duty to the Issuer, in connection with such transactions or
the process leading thereto.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><U>Representations and Warranties of the Issuer and the Guarantors</U>. The Issuer and the Guarantors,
jointly and severally, represent and warrant to each Underwriter as of the date hereof and as of the Closing Date as set forth below in
this Section&nbsp;3.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><I>Preliminary Prospectus. </I>No order preventing or suspending the use of any Preliminary Prospectus
has been issued by the Commission, and each Preliminary Prospectus, at the time of filing thereof, complied in all material respects with
the Securities Act and did not contain any untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements therein, in the light of the circumstances under which they were made, not misleading; <U>provided</U> that the Issuer
and the Guarantors make no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity
with information relating to any Underwriter furnished to the Issuer and the Guarantors in writing by such Underwriter through the Representatives
expressly for use in any Preliminary Prospectus.</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><I>Time of Sale Information.</I> The Time of Sale Information, at the Time of Sale did not, and at the
Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Issuer and the Guarantors
make no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity with information
relating to any Underwriter furnished to the Issuer and the Guarantors in writing by such Underwriter through the Representatives expressly
for use in the Preliminary Prospectus, the Time of Sale Information or the Prospectus. No statement of material fact included in the Prospectus
has been omitted from the Time of Sale Information and no statement of material fact included in the Time of Sale Information that is
required to be included in the Prospectus has been omitted therefrom.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><I>Issuer Free Writing Prospectus.</I> The Issuer and the Guarantors (including their agents and representatives,
other than the Underwriters in their capacity as such) have not prepared, made, used, authorized, approved or referred to and will not
prepare, make, use, authorize, approve or refer to any &ldquo;written communication&rdquo; (as defined in Rule 405 under the Securities
Act) that constitutes an offer to sell or solicitation of an offer to buy the Notes (each such communication by the Issuer and the
Guarantors or their agents and representatives (other than a communication referred to in clauses (i) (ii) and (iii) below) an &ldquo;Issuer
Free Writing Prospectus&rdquo;) other than (i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities
Act or Rule 134 under the Securities Act, (ii) the Preliminary Prospectus, (iii) the Prospectus, (iv) the documents listed on Schedule
2 hereto, including a Pricing Term Sheet substantially in the form of Schedule 2 hereto, which constitute part of the Time of Sale Information
and (v) any electronic road show or other written communications, in each case approved in writing in advance by the Representatives. Each
such Issuer Free Writing Prospectus complies in all material respects with the Securities Act, has been or will be (within the time period
specified in Rule 433) filed in accordance with the Securities Act (to the extent required thereby) and, when taken together with the
Preliminary Prospectus accompanying, or delivered prior to delivery of, such Issuer Free Writing Prospectus, at the Time of Sale, did
not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Issuer
and the Guarantors make no representation or warranty with respect to any statements or omissions made in each such Issuer Free Writing
Prospectus in reliance upon and in conformity with information relating to any Underwriter furnished to the Issuer and the Guarantors
in writing by such Underwriter through the Representatives expressly for use in any Issuer Free Writing Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(d)</I></TD><TD STYLE="text-align: justify"><I>Registration Statement and Prospectus. </I>The Registration Statement is an &ldquo;automatic shelf
registration statement&rdquo; as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than
three years prior to the date hereof; and no notice of objection of the Commission to the use of such registration statement or any post-effective
amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Issuer. No order suspending the effectiveness
of the Registration Statement has been issued by the Commission and no proceeding for that purpose or pursuant to Section 8A of the Securities
Act against the Issuer or related to the offering has been initiated or threatened by the Commission; as of the applicable effective date
of the Registration Statement and any amendment thereto, the Registration Statement complied and will comply in all material respects
with the Securities Act and the Trust Indenture Act of 1939, as amended, and the rules and regulations of the Commission thereunder (collectively,
the &ldquo;Trust Indenture Act&rdquo;), and did not and will not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein not misleading; and as of the date of the Prospectus
and any amendment or supplement thereto and as of the Closing Date, the Prospectus will not contain any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; provided that the Issuer makes no representation or warranty with respect to (i) that part of the Registration
Statement that constitutes the Statement of Eligibility and Qualification (Form T-1) of the Trustee under the Trust Indenture Act or (ii)
any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Issuer
or the Guarantors in writing by such Underwriter through the Representatives expressly for use in the Registration Statement and the Prospectus
and any amendment or supplement thereto.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><I>Incorporated Documents.</I> The documents incorporated by reference in the Registration Statement,
the Prospectus and the Time of Sale Information, when they were filed with the Commission conformed in all material respects to the requirements
of the Exchange Act and none of such documents contained any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;
and any further documents so filed and incorporated by reference in the Registration Statement, the Prospectus or the Time of Sale Information,
when such documents become effective or are filed with the Commission, as the case may be, will conform in all material respects to the
requirements of the Securities Act or the Exchange Act, as applicable, and will not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify"><I>Financial Statements.</I> The financial statements and the related notes thereto included or
                                                           incorporated by reference in the Registration Statement, the Time of Sale Information and the Prospectus comply in all material
                                                           respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly the
                                                           consolidated financial position of the Group, as the case may be, as of the dates indicated and the results of its operations and
                                                           the changes in its cash flows for the periods specified; such financial statements have been prepared in conformity with
                                                           International Financial Reporting Accounting Standards as issued by the International Accounting Standards Board, applied on a consistent basis throughout the periods covered thereby, and the supporting schedules included or
                                                           incorporated by reference in the Registration Statement present fairly the information required to be stated therein; and the other
                                                           financial information included or incorporated by reference in the Registration Statement, the Time of Sale Information and the
                                                           Prospectus has been derived from the accounting records of the Group, as the case may be, and presents fairly the information shown
                                                           thereby.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><I>No Material Adverse Change.</I> Since the respective dates as of which information is given in the
Registration Statement, the Time of Sale Information and the Final Prospectus, except as otherwise stated therein, (A)&nbsp;there has been no
change or development that (i)&nbsp;could reasonably be expected to have a material adverse effect on the performance of this Agreement
or the Indenture, or the consummation of any of the transactions contemplated hereby or thereby or (ii)&nbsp;could reasonably be expected
to have a material adverse effect on the prospects, financial condition, operations, earnings, business or properties of the Group, taken
as a whole, whether or not arising from transactions in the ordinary course of business (any such effect described in (i)&nbsp;or (ii)&nbsp;being
referred to as a &ldquo;Material Adverse Effect&rdquo;), (B)&nbsp;there have been no transactions entered into by the Group, other than
those in the ordinary course of business, which are material with respect to the Group taken as a whole, and (C)&nbsp;except for regular
interim and final dividends on the ordinary shares of the Parent Guarantor (the &ldquo;Ordinary Shares&rdquo;) in amounts per share that
are consistent with past practice, there has been no dividend or distribution of any kind declared, paid or made by the Issuer or the
Parent Guarantor on any class of its share capital or stock.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><I>Organization and Good Standing</I>. Each of the Issuer and the Guarantors and their subsidiaries
                                                           (i) has been duly incorporated or organized and is validly existing as a corporation or company in good standing (where applicable)
                                                           under the laws of the jurisdiction in which it is incorporated or organized, (ii) has corporate or entity power and authority to
                                                           own, lease and operate its properties (as applicable) and to conduct its business as now conducted and as described in the Time of
                                                           Sale Information and the Final Prospectus and to enter into and perform its obligations under this Agreement and (iii) to the extent
                                                           applicable, is duly qualified as a foreign corporation or company to transact business and is in good standing in each jurisdiction
                                                           in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business,
                                                           except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect. All of the issued
                                                           share capital or stock of each of the Issuer and each Guarantor, as applicable, and each subsidiary of the Guarantors has been duly
                                                           authorized and validly issued, is fully paid and non-assessable; all of the issued and outstanding share capital or stock of each
                                                           such subsidiary owned by the Issuer or the Guarantors, directly or through subsidiaries, is owned free and clear of any security
                                                           interest, mortgage, pledge, lien, encumbrance, claim or equity except (i)&nbsp;as otherwise disclosed in the Time of Sale
                                                           Information and the Final Prospectus, or (ii)&nbsp;where (A)&nbsp;the failure to be duly authorized, validly issued, fully paid and
                                                           non-assessable, or (B)&nbsp;the existence of a security interest, mortgage, pledge, lien, encumbrance, claim or equity, would not
                                                           result in a Material Adverse Effect.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><I>Capitalization.</I> <FONT STYLE="letter-spacing: -0.15pt">The Parent Guarantor has the
                                                           capitalization as set forth in the Registration Statement</FONT>, the Time of Sale Information <FONT STYLE="letter-spacing: -0.15pt">and
                                                           the Prospectus under the heading &ldquo;Capitalization&rdquo;. None of the outstanding shares of
                                                           capital or stock of the Guarantors or the Issuer was issued in violation of the pre-emptive or similar rights of any securityholder
                                                           of the Guarantors or the Issuer. </FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"><I>Underwriting Agreement.</I> This Agreement has been duly authorized, executed and delivered by each
of the Issuer and the Guarantors.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><I>Indenture. </I> The Indenture has been duly authorized, and when executed and delivered by the
                                                           Issuer, the Guarantors, the Registrar and Paying Agent and the Trustee will constitute a valid
                                                           and legally binding agreement of the Issuer and the Guarantors enforceable against the Issuer and the Guarantors in accordance with
                                                           its terms, except (i)&nbsp;as such enforceability may be limited by bankruptcy, insolvency, examinership, reorganization or similar
                                                           laws affecting creditors&rsquo; rights generally and (ii)&nbsp;that the remedy of specific performance and injunctive and other
                                                           forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding
                                                           therefor may be brought.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify"><I>The Notes.</I> The Notes have been duly authorized and, at the Closing Date, will be in the form contemplated
by, and entitled to the benefits of, the Indenture, will have been duly executed by the Issuer and, when authenticated, issued and delivered
in the manner provided for in the Indenture and delivered against payment of the purchase price therefor as provided in this Agreement,
will constitute valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with their terms, except (i)&nbsp;as
such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&rsquo; rights generally
and (ii)&nbsp;that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable
defenses and to the discretion of the court before which any proceeding therefor may be brought.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify"><I>The Guarantees.</I> The Guarantees have been duly authorized and, at the Closing Date, will be in the
form contemplated by, and entitled to the benefits of, the Indenture, will have been duly executed by the Guarantors and, when the Notes
have been authenticated, issued and delivered in the manner provided in the Indenture and delivered against payment of the purchase price
for the Notes as provided in this Agreement will constitute valid and binding obligations of the Guarantors, enforceable against the Guarantors
in accordance with their terms, except (i)&nbsp;as such enforceability may be limited by bankruptcy, insolvency, examinership, reorganization
or similar laws affecting creditors&rsquo; rights generally and (ii)&nbsp;that the remedy of specific performance and injunctive and other
forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor
may be brought.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify"><I>No Conflicts.</I> The execution, delivery and performance of this Agreement, the Indenture and
                                                           the Securities, and the consummation of the transactions contemplated herein and in the Time of Sale Information and the Final
                                                           Prospectus (including the issuance and sale of the Notes and the use of the proceeds from the sale of the Notes as described in the
                                                           Time of Sale Information and the Final Prospectus under the caption &ldquo;Use of Proceeds&rdquo;) and compliance
                                                           by the Issuer and the Guarantors with their obligations hereunder and under the Indenture and the Securities do not and will not,
                                                           whether with or without the giving of notice or passage of time or both, conflict with or constitute a breach of, or default under,
                                                           or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Group, pursuant to,
                                                           the Agreements and Instruments (except for such conflicts, breaches or defaults or liens, charges or encumbrances that would not
                                                           result in a Material Adverse Effect), nor will such action result in (i)&nbsp;any violation of the provisions of the respective
                                                           memoranda and articles of association, charters or by-laws of the Issuer, the Guarantors or any of their respective material
                                                           subsidiaries or (ii)&nbsp;any applicable law, statute, rule, regulation, judgment, order, writ or decree of any government,
                                                           government instrumentality or court, domestic or foreign, having jurisdiction over the Group or (iii)&nbsp;any of their assets,
                                                           properties or operations (except, in the case of clause (i)&nbsp;as it relates to subsidiaries (other than the Guarantors), and in
                                                           the case of clause (ii)&nbsp;or (iii), for such violations that would not result in a Material Adverse Effect).</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify"><I>No Defaults. </I>None of the Issuer, the Guarantors or any of their respective subsidiaries are in
(i)&nbsp;violation of their respective memoranda and articles of association, charters or by-laws or (ii)&nbsp;violation of any statute,
law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or
other authority having jurisdiction over the Issuer, the Guarantors or any of their respective subsidiaries or any of their properties
or (iii)&nbsp;default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract,
indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which the Issuer, the Guarantors
or any of their respective subsidiaries are a party or by which they or any of them may be bound, or to which any of the property or assets
of the Issuer, the Guarantors or any of their respective subsidiaries is subject (collectively, &ldquo;Agreements and Instruments&rdquo;)
except, in the case of clause (i)&nbsp;as it relates to subsidiaries other than the Guarantors, and in the case of clause (ii)&nbsp;or
(iii), for such violations or defaults that would not result in a Material Adverse Effect.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify"><I>No Labor Disputes.</I> (i) No labor dispute with the employees of the Group exists or, to the knowledge
of the Parent Guarantor, is imminent, and (ii) the Parent Guarantor is not aware of any existing or imminent labor disturbance by the
employees of any of the Group&rsquo;s principal suppliers, customers or contractors which, in either case, may reasonably be expected to
result in a Material Adverse Effect.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify"><I>Legal Proceedings.</I> There is no action, suit, proceeding, inquiry or investigation before or brought
by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Parent Guarantor, threatened,
against or affecting the Group, which is required to be disclosed in the Time of Sale Information or the Final Prospectus (other than as disclosed
therein), or which might reasonably be expected to result in a Material Adverse Effect, or which might reasonably be expected to materially
and adversely affect the properties or assets thereof or the consummation of the transactions contemplated in this Agreement or the Indenture
or the performance by the Issuer or any Guarantor of their obligations hereunder or thereunder; the aggregate of all pending legal or
governmental proceedings to which the Group is a party or of which any of their respective property or assets is the subject which are
not described in the Time of Sale Information and the Final Prospectus, including ordinary routine litigation incidental to the business, could
not reasonably be expected to result in a Material Adverse Effect.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify"><I>Intellectual Property.</I> The Group owns or possesses, or can acquire on reasonable terms,
                                                           adequate patents, patent rights, licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or
                                                           unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other
                                                           intellectual property (collectively, &ldquo;Intellectual Property&rdquo;) necessary to carry on the business now operated by it, and
                                                           the Group has not received any notice and is not otherwise aware of any infringement of or conflict with asserted rights of
                                                           others with respect to any Intellectual Property or of any facts or circumstances which would render any Intellectual Property
                                                           invalid or inadequate to protect the interest of the Group therein, and which infringement or conflict (if the subject of any
                                                           unfavorable decision, ruling or finding) or invalidity or inadequacy, singly or in the aggregate, would result in a Material Adverse
                                                           Effect.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify"><I>Licenses and Permits.</I> The Group possesses such permits, licenses, approvals, consents and
other authorizations (collectively, &ldquo;Governmental Licenses&rdquo;) issued by the appropriate federal, state, local or foreign regulatory
agencies or bodies necessary to conduct the business now operated by it (except for such permits, licenses, approvals, consents and other
authorizations which the failure to obtain would not result in a Material Adverse Effect); the Group is in compliance with the terms and
conditions of all such Governmental Licenses, except where the failure so to comply would not, singly or in the aggregate, have a Material
Adverse Effect; all of the Governmental Licenses are valid and in full force and effect, except when the invalidity of such Governmental
Licenses or the failure of such Governmental Licenses to be in full force and effect would not have a Material Adverse Effect; and the
Group has not received any notice of proceedings relating to the revocation or modification of any such Governmental Licenses which, singly
or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in a Material Adverse Effect.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify"><I>Title to Real and Personal Property</I>. The Group has good and marketable title to all real property
owned by it, and good title to all other properties owned by it, in each case, free and clear of all mortgages, pledges, liens, security
interests, claims, restrictions or encumbrances of any kind except such as (a)&nbsp;are described in the Time of Sale Information and the Final
Prospectus or (b)&nbsp;do not, singly or in the aggregate have a Material Adverse Effect; and all of the leases and subleases material
to the business of the Group, and under which any member of the Group holds properties described in the Time of Sale Information and the Final
Prospectus, are in full force and effect, and the Group has not received any notice of any material claim of any sort that has been asserted
by anyone adverse to the rights of the Group under any of the leases or subleases material to the business of the Group, taken as a whole,
or affecting or questioning the rights of the Group of the continued possession of the leased or subleased premises under any such lease
or sublease.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify"><I>Certain Environmental Matters.</I> Except as described in the Time of Sale Information Package and the Final
                                                           Prospectus and except as would not, singly or in the aggregate, result in a Material Adverse Effect, (A)&nbsp;the Group is not in
                                                           violation of any federal, state, local or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or
                                                           any judicial or administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment,
                                                           relating to pollution or protection of human health, the environment (including, without limitation, ambient air, surface water,
                                                           groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating to the
                                                           release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or
                                                           petroleum products (collectively, &ldquo;Hazardous Materials&rdquo;) or to the manufacture, processing, distribution, use,
                                                           treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, &ldquo;Environmental Laws&rdquo;),
                                                           (B)&nbsp;the Group has all permits, authorizations and approvals required under any applicable Environmental Laws and is in
                                                           compliance with their requirements, (C)&nbsp;there are no pending or threatened administrative, regulatory or judicial actions,
                                                           suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings relating to any
                                                           Environmental Laws against the Group and (D)&nbsp;there are no events or circumstances that might reasonably be expected to form the
                                                           basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental body or agency,
                                                           against or affecting the Group relating to Hazardous Materials or any Environmental Laws.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><I>No Consents or Approvals.</I> No filing with, or authorization, approval, consent, license,
                                                           order, registration, qualification or decree of, any court or governmental authority, body or agency is necessary or required in
                                                           connection with the transactions contemplated herein, or in the Indenture, except (A) the filing of approved listing particulars or
                                                           an approved prospectus or (B) such as may be required under the blue sky laws of any jurisdiction in which the Notes are offered and
                                                           sold.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(w)</TD><TD STYLE="text-align: justify"><I>Sarbanes-Oxley Act</I>. The Parent Guarantor is in compliance in all material respects with the applicable
provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission adopted pursuant thereto as such rules and
regulations currently apply to it (collectively, the &ldquo;Sarbanes-Oxley Act&rdquo;). There is and has been no failure on the part of
any of the Parent Guarantor&rsquo;s officers or directors, in their capacities as such, to comply with any applicable provisions of the
Sarbanes-Oxley Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify"><I>Stamp Duty; Taxes</I>. No ad valorem stamp duty, stamp duty reserve
tax or other similar tax or duty are payable under applicable laws or regulations of the United Kingdom (i)&nbsp;in connection with the
creation or original issuance and sale of the Notes, (ii)&nbsp;with respect to the execution, delivery and performance of this Agreement
or the Indenture or (iii)&nbsp;with respect to any payments made to the Underwriters pursuant to this Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify"><I>Withholding Tax</I>. Except as described in the Time of Sale Information and the Final Prospectus, payments
made by the Issuer under the Notes or the Guarantors under the Guarantees to holders will not be subject to any withholdings or similar
charges for or on account of taxation under the laws of the United Kingdom or the United States.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify"><I>Submission of Jurisdiction.</I> Each of the Issuer and the Guarantors has the power to submit and pursuant
to Section&nbsp;16 of this Agreement has legally, validly, effectively and irrevocably submitted, to the nonexclusive jurisdiction of
any federal or state court in the State of New York, County of New York, Borough of Manhattan and has the power to designate, appoint
and empower and pursuant to Section&nbsp;16 of this Agreement has legally, validly, effectively and irrevocably designated, appointed
and empowered an agent for service of process in any suit or proceeding based on or arising under this Agreement in any federal or state
court in the State of New York.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(aa)</TD><TD STYLE="text-align: justify"><I>No Restrictions on Subsidiary Distributions.</I> No subsidiary of the Parent Guarantor is currently
prohibited, directly or indirectly, from paying any dividends to the Parent Guarantor, from making any other distribution on such subsidiary&rsquo;s
share capital or stock, from repaying to the Parent Guarantor any loans or advances to such subsidiary from the Parent Guarantor or from
transferring any of such subsidiary&rsquo;s property or assets to Parent Guarantor or any subsidiary of the Parent Guarantor, except as
described in or contemplated in the Time of Sale Information and the Final Prospectus (exclusive of any amendment or supplement thereto) and
except as could not reasonably be expected to affect the ability of the Issuer or the Guarantors to make payments on the Securities or
otherwise to have a Material Adverse Effect.</TD></TR></TABLE>

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

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(bb)</TD><TD STYLE="text-align: justify"><I>Compliance with Foreign Corrupt Practices Act.</I>&nbsp;Save in respect of matters addressed in
                                                            the SEC&rsquo;s offer of settlement dated September 2, 2021 and the SEC&rsquo;s cease-and-desist order dated September 24, 2021 in
                                                            the matter of the Parent Guarantor (Administrative Proceeding File No. 3-20595) (to the extent relevant, the &ldquo;SEC
                                                            Proceedings&rdquo;) (i) none of the Issuer, the Guarantors or any Principal Subsidiaries (defined below) nor, to the best knowledge
                                                            of the Issuer and the Guarantors, any director, officer, employee or agent acting on behalf of any Issuer, Guarantor or Principal
                                                            Subsidiary, as the case may be, is aware of or has taken any action, directly or indirectly, that would result in a violation by
                                                            such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the
                                                            &ldquo;FCPA&rdquo;) or any other anti-bribery or anti-corruption law or regulation of any other jurisdiction, including without
                                                            limitation, making use of the mail or any means or instrumentality of interstate commerce corruptly in furtherance of an offer,
                                                            payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of
                                                            the giving of anything in value to any &ldquo;foreign official&rdquo; (as such term is defined in the FCPA) or any foreign political
                                                            party or official thereof or any candidate for foreign political office, in contravention of FCPA or any other anti-bribery or
                                                            anti-corruption law or regulation of any other jurisdiction; and (ii) the Issuer, the Guarantors and, to the best knowledge of the
                                                            Issuer and the Guarantors, the Principal Subsidiaries, have conducted their businesses in compliance with the FCPA and any other
                                                            anti-bribery or anti-corruption law or regulation of any other jurisdiction and have instituted and maintain policies and procedures
                                                            designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith, except in all cases
                                                            where any such violation or non-compliance would not individually or in the aggregate have a Material Adverse Effect.</TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(cc)</TD><TD STYLE="text-align: justify"><I>Cybersecurity.
                                            </I>Except as would not, individually or in the aggregate reasonably be expected to have
                                            a Material Adverse Effect, (i) the Parent Guarantor&rsquo;s and its subsidiaries&rsquo; information
                                            technology assets and equipment, computers, systems, networks, hardware, software, websites,
                                            applications, and databases (collectively, &ldquo;IT Systems&rdquo;) are adequate for, and
                                            operate and perform in all material respects as required in connection with the operation
                                            of the business of the Parent Guarantor and its subsidiaries as currently conducted, and
                                            to the knowledge of the Parent Guarantor, are free and clear of all material bugs, errors,
                                            defects, Trojan horses, time bombs, malware and other computer viruses; and (ii) the Parent
                                            Guarantor and its, subsidiaries have implemented and maintained commercially reasonable controls,
                                            policies, procedures, and safeguards, consistent with applicable law, that are intended to
                                            maintain and protect their material confidential information and trade secrets and the integrity,
                                            continuous operation, redundancy and security of their IT Systems and data (including personal
                                            or personally identifiable data (such data, &ldquo;Personal Data&rdquo;)) used or held for
                                            use in connection with their businesses; and (iii) to the knowledge of the Parent Guarantor
                                            and its subsidiaries, there have been no security breaches, violations, outages or unauthorized
                                            uses of or accesses to (or other security incident, including any ransomware attack, compromising)
                                            such IT Systems or Personal Data, except for those that have been remedied without material
                                            cost or liability or the duty to notify any other&nbsp;Person&nbsp;under applicable privacy
                                            laws, nor any incidents under internal review or investigations by any governmental authority
                                            relating to the same. Except as would not, individually or in the aggregate, reasonably be
                                            expected to have a Material Adverse Effect, the Parent Guarantor and its subsidiaries are
                                            presently, and have been, in compliance with all applicable laws or statutes and all applicable
                                            judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory
                                            authority, and contractual obligations to which the Parent Guarantor and its subsidiaries are bound relating to
                                            the privacy and security of IT Systems and Personal Data and to the protection of such IT
                                            Systems and Personal Data from unauthorized use, access, misappropriation or modification.</TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(dd)</TD><TD STYLE="text-align: justify"><I>Compliance with Anti-Money Laundering. </I>Save in respect of matters addressed in the SEC
                                                            Proceedings, the operations of each Issuer, each Guarantor and each Principal Subsidiary are and have been conducted at all times in
                                                            compliance with applicable financial record keeping and money laundering statutes in the United Kingdom, Jersey and of all
                                                            jurisdictions in which the Issuer, the Guarantors and the Principal Subsidiaries conduct business, the rules and regulations
                                                            thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency
                                                            (collectively, &ldquo;Money Laundering Laws&rdquo;) and no action, suit or proceeding by or before any court or governmental agency,
                                                            authority or body or any arbitrator involving the Issuer, Guarantors or any Principal Subsidiaries with respect to Money Laundering
                                                            Laws is pending which, if determined adversely to the Issuer or the Guarantors or any such Principal Subsidiary would individually
                                                            or in the aggregate have a Material Adverse Effect and, to the best of the Issuer&rsquo;s and the Guarantors knowledge, no such
                                                            actions, suits or proceedings are threatened or contemplated.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ee)</TD><TD STYLE="text-align: justify"><I>Compliance with Sanctions</I>. None of the Issuer, the Guarantors or any Principal Subsidiaries nor,
to the best knowledge of the Issuer and the Guarantors, any director, officer, agent or employee of any of the Issuer, the Guarantors
or any Principal Subsidiaries are currently the subject of any Sanctions nor is it located, organized or resident in a country or territory,
which country or territory is the subject of Sanctions and the Issuer and the Guarantors&nbsp;will not directly or indirectly use the
proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary,
joint venture partner or other person or entity (i) to fund or facilitate any activities of or business with any person, or in any country
or territory, that, at the time of such funding, is the subject or the target of Sanctions or (ii) in any other manner that will result
in a violation by any person (including any person participating in the transaction, whether as underwriter, advisor, investor or otherwise)
of Sanctions.</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ff)</TD><TD STYLE="text-align: justify"><I>Investment Company Act.</I> Neither the Issuer nor any Guarantor is, and after giving effect to the
offering and sale of the Notes and the application of the proceeds thereof as described in the Time of Sale Information and the Final Prospectus
none of them will be, an &ldquo;investment company&rdquo; as defined in the Investment Company Act, without taking account of any exemption
arising out of the number of holders of the Guarantors&rsquo; or the Issuer&rsquo;s securities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(gg)</TD><TD STYLE="text-align: justify"><I>Disclosure Controls</I>. The Parent Guarantor maintains an effective system of &ldquo;disclosure controls
and procedures&rdquo; (as defined in Rule 13a-15(e) under the Exchange Act) that is designed to ensure that information required to be
disclosed by the Issuer and the Guarantors in reports that each files or submits under the Exchange Act is recorded, processed, summarized
and reported within the time periods specified in the Commission&rsquo;s rules and forms, including controls and procedures designed to
ensure that such information is accumulated and communicated to the Parent Guarantor&rsquo;s management as appropriate to allow timely
decisions regarding required disclosure. The Parent Guarantor has carried out evaluations of the effectiveness of its disclosure controls
and procedures as required by Rule 13a-15 under of the Exchange Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(hh)</TD><TD STYLE="text-align: justify">Any certificate signed by any officer of the Issuer or any Guarantor and delivered to the Representatives
or counsel for the Underwriters in connection with the offering of the Notes shall be deemed a representation and warranty by the
Issuer or such Guarantor, as to matters covered thereby, to each Underwriter.</TD></TR></TABLE>

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

<P STYLE="margin-top: 0; margin-bottom: 0">As used in this Section 3:</P>

<P STYLE="margin: 0 0.25in 0 0.75in">&ldquo;Principal
Subsidiary&rdquo; means any subsidiary of WPP plc whose consolidated revenue shall have exceeded 5 per cent. of the consolidated revenues
of the Group taken as a whole for the preceding financial year.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><U>Offering by Underwriters</U>. It is understood that the several Underwriters propose to offer the Notes
for sale to the public as set forth in the Final Prospectus. Each Underwriter, severally and not jointly, agrees that it has not offered
or sold, and will not offer or sell, any Notes except in accordance with the selling restrictions set forth in the Final Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><U>Expenses</U>. The Issuer agrees or, failing the Issuer, the Parent Guarantor agrees to pay the costs
and expenses relating to the following matters: (i)&nbsp;the costs and expenses relating to the preparation of the Indenture, the issuance
of the Notes and the fees of the Trustee; (ii)&nbsp;the costs and expenses relating to the preparation, printing or reproduction
and filing under the Securities Act of the Registration Statement, any Preliminary Prospectus, the Time of Sale Information and the Final Prospectus
and each amendment or supplement to any of them; (iii)&nbsp;the costs and expenses relating to the printing (or reproduction) and delivery
(including postage, air freight charges and charges for counting and packaging) of such copies of the Registration Statement, any Preliminary
Prospectus, the Time of Sale Information and the Final Prospectus, and all amendments or supplements to any of them, as may, in each case, be
reasonably requested for use in connection with the offering and sale of the Notes; (iv)&nbsp;the costs and expenses relating to
the preparation, printing, authentication, issuance and delivery of certificates for the Notes; (v)&nbsp;any ad valorem stamp duty,
stamp duty reserve tax or similar issuance, registration or transfer taxes or duties in connection with the original issuance and sale
of the Notes; (vi)&nbsp;the costs and expenses relating to the printing (or reproduction) and delivery of this Agreement, any blue
sky memorandum and all other agreements or documents printed (or reproduced) and delivered in connection with the offering of the Notes;
(vii)&nbsp;the registration of the Securities under the Exchange Act; (viii)&nbsp;the costs and expenses relating to any registration
or qualification of the Securities for offer and sale under the securities or blue sky laws of the several states specified pursuant to
Section&nbsp;8(f) (including filing fees and the reasonable fees and expenses of counsel for the Underwriters relating to such registration
and qualification); (ix)&nbsp;all costs and expenses relating to the rating of the Notes by Moody&rsquo;s Investors Services Inc.,
  S&amp;P Global Ratings, a division of S&amp;P Global Inc., and Fitch Ratings Ltd; (x)&nbsp;the transportation and other expenses incurred by or on behalf of the representatives
of the Issuer and the Guarantors in connection with presentations to prospective purchasers of the Notes; (xi)&nbsp;[the costs and
expenses of listing the Notes on the [EXCHANGE] including the fees and expenses of the Issuer&rsquo;s and the Guarantors&rsquo; listing
agent] and the filing with the relevant securities exchange of the approved listing particulars or prospectus; (xii)&nbsp;the costs and expenses relating to marketing materials including any electronic road show and graphic art materials;
(xiii)&nbsp;the fees and expenses of the Issuer&rsquo;s and the Guarantors&rsquo; accountants and the fees and expenses of counsel (including
local and special counsel) for the Issuer and the Guarantors; (xiv)&nbsp;any filings required to be made with the Financial Industry Regulatory
Authority; and (xv)&nbsp;all other costs and expenses incident to the performance by each of the Issuer and the Guarantors of its obligations
hereunder.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">It is understood,
however, that except as provided in this Section&nbsp;5 and in Section 10 hereof, the Underwriters will pay all of their own costs and
expenses, including the fees of their counsel, transfer taxes on resale of any of the Notes by them and, unless otherwise agreed
with the Issuer and the Guarantors in writing, any advertising expenses relating to the offer of the Notes.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify"><U>Agreements</U>. The Issuer and the Guarantors agree with each Underwriter that:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><I>Delivery of Copies.</I> The Issuer and the Guarantors will, if requested by the Representatives, furnish
to the Representatives, without charge, (i) signed copies of the Registration Statement (including exhibits thereto) as originally filed
and each amendment thereto; and (ii) to each Underwriter (A) conformed copy of the Registration Statement as originally filed and each
amendment thereto (including exhibits thereto) (B) during the Prospectus Delivery Period (as defined below), as many copies of the Prospectus
(including all amendments and supplements thereto and documents incorporated by reference therein) and each Issuer Free Writing Prospectus
as the Representatives may reasonably request. As used herein, the term &ldquo;Prospectus Delivery Period&rdquo; means such period of
time after the first date of the public offering of the Notes as in the opinion of counsel for the Underwriters a prospectus relating
to the Notes is required by law to be delivered (or required to be delivered but for Rule 172 under the Securities Act) in connection
with sales of the Notes by any Underwriter or dealer.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><I>Amendments or Supplements; Issuer Free Writing Prospectus. </I>Prior to the termination of the offering
of the Notes, neither the Issuer nor any Guarantor will file any amendment of the Registration Statement or supplement to the Final
Prospectus or any Preliminary Prospectus unless the Issuer or such Guarantor has furnished to the Representatives a copy for their review
prior to filing and will not file any such proposed amendment or supplement to which the Representatives reasonably object. The Issuer
and the Guarantors will cause the Final Prospectus, properly completed, and any supplement thereto to be filed in a form approved by the
Representatives with the Commission pursuant to the applicable paragraph of Rule 424(b) within the time period prescribed and will provide
evidence satisfactory to the Representatives of such timely filing. The Issuer and the Guarantors will promptly advise the Representatives
(i)&nbsp;when the Final Prospectus, and any supplement thereto, shall have been filed (if required) with the Commission pursuant to Rule
424(b), (ii)&nbsp;when, prior to termination of the offering of the Notes, any amendment to the Registration Statement shall have
been filed or become effective, (iii)&nbsp;of any request by the Commission or its staff for any amendment of the Registration Statement,
or for any supplement to the Final Prospectus or for any additional information, (iv)&nbsp;of the issuance by the Commission of any stop
order suspending the effectiveness of the Registration Statement or of any notice objecting to its use or the institution or threatening
of any proceeding for that purpose and (v)&nbsp;of the receipt by the Issuer or any Guarantor of any notification with respect to the
suspension of the qualification of the Notes for sale in any jurisdiction or the institution or threatening of any proceeding for
such purpose. The Issuer and the Guarantors will use their reasonable best efforts to prevent the issuance of any such stop order or the
occurrence of any such suspension or objection to the use of the Registration Statement and, upon such issuance, occurrence or notice
of objection, to obtain as soon as possible the withdrawal of such stop order or relief from such occurrence or objection, including,
if necessary, by filing an amendment to the Registration Statement or a new registration statement and using their reasonable best efforts
to have such amendment or new registration statement declared effective as soon as practicable.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><I>Final Term Sheet.</I> The Issuer and the Guarantors will prepare a final term sheet, containing solely
a description of final terms of the Notes and the offering thereof, in the form approved by the Representatives and file such term
sheet pursuant to Rule 433(d) within the time required by such Rule.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><I>Permitted Free Writing Prospectus</I>. Unless it has or shall have obtained the prior written consent
of the Representatives, neither the Issuer nor any Guarantor has made nor will make any offer relating to the Notes that would constitute
an Issuer Free Writing Prospectus or that would otherwise constitute a &ldquo;free writing prospectus&rdquo; (as defined in Rule 405)
required to be filed by the Issuer or any Guarantor with the Commission or retained by the Issuer or any Guarantor under Rule 433, other
than the free writing prospectus containing the information contained in the final term sheet prepared and filed pursuant to Section&nbsp;7(c)
hereto;&nbsp;<I>provided</I>&nbsp;that the prior written consent of the&nbsp;Representatives shall be deemed to have been given in respect
of the Free Writing Prospectuses included in Schedule 2 hereto and any electronic road show. Any such free writing prospectus consented
to by the Representatives is hereinafter referred to as a &ldquo;Permitted Free Writing Prospectus.&rdquo; The Issuer and Guarantors agrees
that (x)&nbsp;they have treated and will treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus
and (y)&nbsp;they have complied and will comply, as the case may be, with the requirements of Rules 164 and 433 applicable to any Permitted
Free Writing Prospectus, including in respect of timely filing with the Commission, legending and record keeping.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><I>Time of Sale Information.</I> If at any time prior to the Closing Date (i) any event shall occur or
condition shall exist as a result of which the Time of Sale Information as then amended or supplemented would include any untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances,
not misleading or (ii) it is necessary to amend or supplement the Time of Sale Information to comply with law, the Issuer will immediately
notify the Underwriters thereof and forthwith prepare and, subject to paragraph (c) above, file with the Commission (to the extent required)
and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements to the Time of
Sale Information as may be necessary so that the statements in the Time of Sale Information as so amended or supplemented will not, in
the light of the circumstances, be misleading or so that the Time of Sale Information will comply with law.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify"><I>Ongoing Compliance</I>. If during the Prospectus Delivery Period (i) any event shall occur or condition
shall exist as a result of which the Prospectus as then amended or supplemented would include any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances existing when the Prospectus is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement
the Prospectus to comply with law, the Issuer will immediately notify the Underwriters thereof and forthwith prepare and, subject to paragraph
(c) above, file with the Commission and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments
or supplements to the Prospectus as may be necessary so that the statements in the Prospectus as so amended or supplemented will not,
in the light of the circumstances existing when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus will
comply with blue sky laws. The Issuer and the Guarantors will use their best efforts to arrange, if necessary, for the qualification of
the Securities for the offer and sale by the Underwriters under the securities or blue sky laws of such jurisdictions as the Representatives
shall reasonably request and will continue such qualifications in effect so long as required for distribution of the Securities; provided
that neither the Issuer nor the Guarantors shall be required to (i) qualify as a foreign corporation or other entity or as a dealer in
securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general consent to service of
process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><I>Clearance and Settlement. </I>The Issuer and the Guarantors will cooperate with the Representatives
and use their best efforts to permit the Notes to be eligible for clearance and settlement through The Depository Trust Company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><I>Clear Market</I>. The Issuer and the Guarantors will not for a period of 7 days following the date
of this Agreement, without the prior written consent of the Representatives, offer, sell or contract to sell, or otherwise dispose of
(or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual
disposition or effective economic disposition due to cash settlement or otherwise) by the Issuer, any Guarantor or any of their Affiliates
or any person in privity with the Issuer, any Guarantor or any of their Affiliates), directly or indirectly, or announce the offering
of, any debt securities issued or guaranteed by the Issuer or any Guarantor other than: (i)&nbsp;the Securities hereunder, (ii)&nbsp;debt
securities issued solely pursuant to Regulation S under the Securities Act and (iii)&nbsp;intercompany indebtedness between or among subsidiaries
of the Issuer and the Guarantors.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><I>No Stabilization.</I> Neither the Issuer nor any Guarantor will take, directly or indirectly, any action
designed to or which has constituted, or which might reasonably be expected to cause or result, under the Exchange Act or otherwise, in
stabilization or manipulation of the price of the Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"><I>Earnings Statement. </I>The Parent Guarantor will (i)&nbsp;as soon as practicable, make generally available
to the Parent Guarantor&rsquo;s security holders and to the Representatives an earnings statement or statements of the Parent Guarantor
and its subsidiaries which will satisfy the provisions of Section 13(a) of the Securities Act and Rule 158 and (ii)&nbsp;for a period
of twelve months following the date of this Agreement, furnish to the Representatives all reports or other communications (financial or
other) generally made available to stockholders, and deliver such reports and communications to the Representatives as soon as they are
available, unless such documents are furnished to or filed with the Commission or any securities exchange on which any class of securities
of the Parent Guarantor is listed and generally made available to the public.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><I>Sarbanes-Oxley Act Compliance.</I> Each of the Issuer and the Guarantors will comply with all applicable
securities and other laws, rules and regulations, including, without limitation, the Sarbanes-Oxley Act, and use its best efforts to cause
the directors and officers of the Issuer and the Guarantors, in their capacities as such, to comply with such laws, rules and regulations,
including, without limitation, the provisions of the Sarbanes-Oxley Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify"><I>Stabilization.</I> Neither the Issuer nor any Guarantor will take any action or omit to take any action
(such as issuing any press release relating to any Securities without an appropriate legend) which may restrict or otherwise affect the
ability of any of the Underwriters (or anyone acting on their behalf) to undertake any of the Securities Activities permitted by the price
stabilization rules of the Financial Conduct Authority in accordance with such rules.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify"><U>Certain Agreements of the Underwriters</U>. Each Underwriter hereby represents and agrees that:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Such Underwriter shall not include any &ldquo;issuer information&rdquo; (as defined in Rule 433) in any
&ldquo;free writing prospectus&rdquo; (as defined in Rule 405) used or referred to by such Underwriter without the prior consent of the
Issuer;&nbsp;<I>provided</I>&nbsp;that (i)&nbsp;no such consent shall be required with respect to any such issuer information contained
in any document filed by the Issuer with the Commission prior to the use of such free writing prospectus and (ii)&nbsp;&ldquo;issuer information,&rdquo;
as used in this Section 7(a), shall not be deemed to include information prepared by or on behalf of such Underwriter on the basis of
or derived from issuer information.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Such Underwriter has not and will not, without the prior written consent of the Issuer, used any Free
Writing Prospectus that contains the final terms of the Securities, other than the Free Writing Prospectus, unless such terms have previously
been included in a Free Writing Prospectus (i)&nbsp;filed with the Commission or (ii)&nbsp;that is a final pricing term sheet prepared
by such Underwriter and approved in writing by the Issuer in advance (which approval the Issuer agrees to provide as soon as practically
possible).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Such Underwriter is not subject to any pending proceeding under Section 8A of the Securities Act with
respect to the offering (and will promptly notify the Issuer if any such proceeding against it is initiated during the Prospectus Delivery
Period).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><U>Conditions to the Obligations of the Underwriters</U>. The obligations of the Underwriters to purchase
the Notes shall be subject to the accuracy of the representations and warranties of the Issuer and the Guarantors contained herein
at the date hereof and the Closing Date, to the accuracy of the statements of the Issuer and the Guarantors made in any certificates pursuant
to the provisions hereof, to the performance by the Issuer and the Guarantors of their obligations hereunder and to the following additional
conditions:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Final Prospectus, and any supplement thereto, have been filed in the manner and within the time period
required by Rule 424(b); the final term sheet contemplated by Section&nbsp;6(c) hereto and any other material required to be filed by
the Issuer and the Guarantors pursuant to Rule 433(d) under the Securities Act shall have been filed with the Commission within the applicable
time periods prescribed for such filings by Rule 433; and no stop order suspending the effectiveness of the Registration Statement or
any notice objecting to its use shall have been issued and no proceedings for that purpose shall have been instituted or threatened.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Issuer and the Guarantors shall have requested and caused Allen&nbsp;Overy Shearman Sterling LLP,
U.S. counsel for the Issuer and the Guarantors, to furnish to the Representatives its opinion and negative assurance statement, dated
the Closing Date and addressed to the Underwriters, to the effect set forth in Annex A hereto.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Issuer and the Guarantors shall have requested and caused Mourant Ozannes (Jersey) LLP, Jersey counsel
for the Parent Guarantor, to furnish to the Representatives its opinion, dated the Closing Date and addressed to the Underwriters, substantially
in the form attached as Annex B hereto.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The Issuer and the Guarantors shall have requested and caused Allen&nbsp;Overy Shearman Sterling LLP,
English counsel for the Issuer and the Guarantors, to furnish to the Representatives its opinion, dated the Closing Date and addressed
to the Underwriters, substantially in the form attached as Annex C hereto.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Representatives shall have received from Linklaters LLP, U.S. counsel for the Underwriters, such opinion
or opinions, dated the Closing Date and addressed to the Representatives, with respect to such matters as the Representatives may reasonably
require, and the Issuer and the Guarantors shall have furnished to such counsel such documents as they request for the purpose of enabling
them to pass upon such matters. The Representatives shall have received from Linklaters LLP, U.S. counsel for the Underwriters, its negative
assurance statement, dated the Closing Date and addressed to the Underwriters.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The Representatives shall have received from Linklaters LLP&nbsp;, English counsel for the Underwriters,
such opinion or opinions, dated the Closing Date and addressed to the Representatives, with respect to such matters as the Representatives
may reasonably require, and the Issuer and the Guarantors shall have furnished to such counsel such documents as they request for the
purpose of enabling them to pass upon such matters.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">At the Closing Date, there shall not have been, since the date hereof or since the respective dates as
of which information is given in the Time of Sale Information or the Final Prospectus, any material adverse change, and no development reasonably
likely to cause a prospective material adverse change, in the financial condition or in the earnings or business of the Issuer, the Guarantors
and their subsidiaries, taken as a whole, whether or not arising in the ordinary course of business, and the Representatives shall have
received a certificate executed by each of the chief financial officer or principal officer and the secretary or other director of the
Issuer and the Guarantors, dated as of the Closing Date, to the effect that (i)&nbsp;there has been no such material adverse change, (ii)&nbsp;the
representations and warranties in Section&nbsp;3 hereof are true and correct with the same force and effect as though expressly made at
and as of the Closing Date, and (iii)&nbsp;the Issuer and the Guarantors have each complied with all agreements and satisfied all conditions
on their respective parts to be performed or satisfied at or prior to the Closing Date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">On the date of this Agreement and on the Closing Date, the Issuer and the Guarantors shall have
                                                           requested and caused PricewaterhouseCoopers LLP and Deloitte LLP to furnish to the Representatives and to the entities listed on
                                                           Schedule 3, affiliates of the Underwriters and non-U.S. selling agents, letters dated as of the respective delivery dates, in each
                                                           case in form and substance reasonably satisfactory to the Representatives, containing statements and information of the type
                                                           ordinarily included in accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters with respect to the financial statements and
                                                           certain financial information contained or incorporated by reference in the Registration Statement, the Time of Sale Information and the
                                                           Final Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">[the Issuer shall have furnished to the Representatives a certificate, dated the Closing Date and addressed
to the Representatives, of its chief financial officer with respect to certain financial data contained in the Registration Statement,
the Time of Sale Information and the Prospectus, providing &ldquo;management comfort&rdquo; with respect to such information, in form
and substance reasonably satisfactory to the Representatives to the extent such information was not included in the accountants&rsquo;
&ldquo;comfort letters.&rdquo;]</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">The Notes shall be eligible for clearance and settlement through The Depository Trust Company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">[The [EXCHANGE] shall have approved the Notes for listing, subject only to notice of issuance.]</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">The Issuer will apply the net proceeds from the sale of the Notes as described in the Registration
Statement, the Time of Sale Information and the Prospectus under the heading &ldquo;Use of Proceeds&rdquo;.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">Subsequent to the earlier of (A) the Time of Sale and (B) the execution and delivery of this Agreement,
(i) no downgrading shall have occurred in the rating accorded the Securities or any other debt securities or preferred stock issued or
guaranteed by the Parent Guarantor or any of its subsidiaries by any &ldquo;nationally recognized statistical rating organization&rdquo;,
as such term is defined under Section 3(a)(62) under the Exchange Act and (ii) no such organization shall have publicly announced that
it has under surveillance or review, or has changed its outlook with respect to, its rating of the Securities or of any other debt securities
or preferred stock issued or guaranteed by the Parent Guarantor or any of its subsidiaries (other than an announcement with positive implications
of a possible upgrading).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">Prior to the Closing Date, the Issuer and the Guarantors shall have furnished to the Representatives such
further information, certificates and documents as the Representatives may reasonably request.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">If any of the conditions specified in this Section&nbsp;8 shall not have been satisfied when and as provided
in this Agreement, or if any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory
in form and substance to the Representatives and counsel for the Underwriters, this Agreement and all obligations of the Underwriters
hereunder may be cancelled at, or at any time prior to, the Closing Date by the Representatives. Notice of such cancellation shall be
given to the Issuer or the Guarantors in writing or by telephone or facsimile confirmed in writing.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">The documents required to be delivered by this Section&nbsp;8 will be delivered at the office of
                                                           counsel for the Underwriters, Linklaters LLP, at 20 Ropemaker Street,  London EC2Y 9AR, United Kingdom, on the Closing Date.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify"><U>Reimbursement of Expenses</U>. If the sale of the Notes provided for herein is not consummated
because any condition to the obligations of the Underwriters set forth in Section&nbsp;8 hereof is not satisfied, because of any termination
pursuant to Section&nbsp;12 hereof or because of any refusal, inability or failure on the part of the Issuer or any Guarantor to perform
any agreement herein or comply with any provision hereof other than by reason of a default by any of the Underwriters, the Issuer, or
failing the Issuer, the Guarantors will reimburse the Underwriters severally through the Representatives on demand for all expenses (including
reasonable fees and disbursements of counsel) that shall have been incurred by them in connection with the proposed purchase and sale
of the Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify"><U>Indemnification and Contribution</U>. (a)&nbsp;The Issuer and the Guarantors, jointly and severally,
agree to indemnify and hold harmless each Underwriter, the directors, officers, employees, Affiliates and agents of each Underwriter and
each person who controls any Underwriter within the meaning of either the Securities Act or the Exchange Act (each a &ldquo;Purchaser
Indemnified Person&rdquo;) against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them
may become subject under the Securities Act, the Exchange Act or other U.S. federal or state or foreign statutory law or regulation, at
common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration
of the Securities as originally filed or in any amendment thereof, or in the Base Prospectus, any Preliminary Prospectus or any other
preliminary prospectus supplement relating to the Securities, the Final Prospectus, any Issuer Free Writing Prospectus or the information
contained in the final term sheet required to be prepared and filed pursuant to Section&nbsp;6(c) hereto, or in any amendment thereof
or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading, and agree to reimburse each such Purchaser Indemnified Person,
as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action;&nbsp;<I>provided, however,</I>&nbsp;that the Issuer and the Guarantors will not be liable in any such
case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged
untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to
the Issuer or the Guarantors by or on behalf of any Underwriter through the Representatives specifically for inclusion therein (it being
understood and agreed that the only such information furnished by or on behalf of any Underwriter consists of the information described
as such in Section 10(b) hereof). This indemnity agreement will be in addition to any liability that the Issuer or the Guarantors may
otherwise have.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each Underwriter severally, and not jointly, agrees to indemnify and hold harmless the Issuer, the Guarantors,
each of the directors, officers, employees, Affiliates and agents of the Issuer and the Guarantors and each person who controls the Issuer
or the Guarantors within the meaning of either the Securities Act or the Exchange Act, to the same extent as the foregoing indemnity from
the Issuer and the Guarantors to each Underwriter, but only with reference to written information relating to such Underwriter furnished
to the Issuer or the Guarantors by or on behalf of such Underwriter through the Representatives specifically for inclusion in the documents
referred to in the foregoing indemnity. The Issuer and the Guarantors acknowledge and agree that the statements set forth in (1)&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
(2)&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], (3)&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
(4)&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] and (5)&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
in each case, in the Preliminary Prospectus and the Final Prospectus, constitute the only information furnished in writing by or on behalf
of the Underwriters for inclusion in the Preliminary Prospectus, the Final Prospectus or in any Issuer Free Writing Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Promptly after receipt by an indemnified party under this Section 10 of notice of the commencement of
any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section
10, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party (i)&nbsp;will
not relieve it from liability under Section 10(a) or 10(b) above unless and to the extent it did not otherwise learn of such action
and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii)&nbsp;will not, in any
event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided
in Section 10(a) or 10(b) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying
party&rsquo;s choice at the indemnifying party&rsquo;s expense to represent the indemnified party in any action for which indemnification
is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel,
other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth
below);&nbsp;<I>provided, however</I>, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the
indemnifying party&rsquo;s election to appoint counsel (including local counsel) to represent the indemnified party in an action, the
indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the
reasonable fees, costs and expenses of such separate counsel if (i)&nbsp;the use of counsel chosen by the indemnifying party to represent
the indemnified party would present such counsel with a conflict of interest; (ii)&nbsp;the actual or potential defendants in, or targets
of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded
that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available
to the indemnifying party; (iii)&nbsp;the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified
party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv)&nbsp;the indemnifying
party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party
will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with
respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise
or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability arising out of such claim, action,
suit or proceeding and (ii)&nbsp;does not include a statement as to, or an admission of fault, culpability or a failure to act by or on
behalf of an indemnifying party.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">In the event that the indemnity provided in Section 10(a) or 10(b) of this Section 10 is unavailable to
or insufficient to hold harmless an indemnified party for any reason, the Issuer, the Guarantors and the Underwriters severally agree
to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection
with investigating or defending any loss, claim, damage, liability or action) (collectively &ldquo;Losses&rdquo;) to which the Issuer,
the Guarantors and one or more of the Underwriters may be subject in such proportion as is appropriate to reflect the relative benefits
received by the Issuer and the Guarantors on the one hand and by the Underwriters on the other from the offering of the Notes;&nbsp;<I>provided,
however,</I>&nbsp;that in no case shall any Underwriter be responsible for any amount in excess of the underwriting discount or commission
applicable to the Notes purchased by such Underwriter hereunder. If the allocation provided by the immediately preceding sentence
is unavailable for any reason, the Issuer, the Guarantors and the Underwriters severally shall contribute in such proportion as is appropriate
to reflect not only such relative benefits but also the relative fault of the Issuer and the Guarantors on the one hand and the Underwriters
on the other in connection with the statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations.
Benefits received by the Issuer and the Guarantors shall be deemed to be equal to the total net proceeds from the offering (before deducting
expenses) received by it, and benefits received by the Underwriters shall be deemed to be equal to the total underwriting discounts and
commissions, in each case as set forth on the cover page of the Final Prospectus. Relative fault shall be determined by reference to,
among other things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information provided by the Issuer or the Guarantors on the one hand or the Underwriters on the other, the intent of the
parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The
Issuer, the Guarantors and the Underwriters agree that it would not be just and equitable if contribution were determined by pro rata
allocation or any other method of allocation that does not take account of the equitable considerations referred to above. Notwithstanding
the provisions of this Section 10(d), no person guilty of fraudulent misrepresentation (within the meaning of Section 13(f) of the Securities
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section
10, each person who controls an Underwriter within the meaning of either the Securities Act or the Exchange Act and each director, officer,
employee, Affiliate and agent of an Underwriter shall have the same rights to contribution as such Underwriter, and each person who controls
the Issuer or the Guarantors within the meaning of either the Securities Act or the Exchange Act and each director, officer, employee,
Affiliate and agent of the Issuer or the Guarantors shall have the same rights to contribution as the Issuer and the Guarantors, subject
in each case to the applicable terms and conditions of this Section 10(d).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify"><U>Default by an Underwriter</U>. If any one or more Underwriters shall fail to purchase and pay for any
of the Notes agreed to be purchased by such Underwriter hereunder and such failure to purchase shall constitute a default in the
performance of its or their obligations under this Agreement, the remaining Underwriters shall be obligated severally to take up and pay
for (in the respective proportions which the principal amount of Notes set forth opposite their names in Schedule 1 hereto bears
to the aggregate principal amount of Notes set forth opposite the names of all the remaining Underwriters) the Notes which the
defaulting Underwriter or Underwriters agreed but failed to purchase;&nbsp;<I>provided, however</I>, that in the event that the aggregate
principal amount of Notes which the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the
aggregate principal amount of Notes set forth in Schedule 1 hereto, the remaining Underwriters shall have the right to purchase all,
but shall not be under any obligation to purchase any, of the Notes, and if such non-defaulting Underwriters do not purchase all
the Notes, this Agreement will terminate without liability to any non-defaulting Underwriter or the Issuer or the Guarantors. In
the event of a default by any Underwriter as set forth in this Section&nbsp;11, the Closing Date shall be postponed for such period, not
exceeding five Business Days, as the Representatives shall determine in order that the required changes in the Registration Statement,
Time of Sale Information and the Final Prospectus or in any other documents or arrangements may be effected. Nothing contained in this Agreement
shall relieve any defaulting Underwriter of its liability, if any, to the Issuer, or the Guarantors or any non-defaulting Underwriter
for damages occasioned by its default hereunder.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify"><U>Termination</U>. This Agreement shall be subject to termination in the absolute discretion of the Representatives,
by notice given to the Issuer or the Guarantors prior to delivery of and payment for the Notes, if at any time prior to such time
(i) trading generally shall have been suspended or materially limited on the New York Stock Exchange or the over-the-counter market; (ii)
trading of any securities issued or guaranteed by the Issuer or any of the Guarantors shall have been suspended on any exchange or in
any over-the-counter market; (iii) a general moratorium on commercial banking activities shall have been declared by federal or New York
State authorities; or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any
calamity or crisis, either within or outside the United States, that, in the judgment of the Representatives, is material and adverse
and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Notes on the terms and in the manner
contemplated by this Agreement, the Time of Sale Information and the Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify"><U>Representations, Warranties, Agreements and Indemnities to Survive</U>. The respective agreements,
representations, warranties, indemnities and other statements of the Issuer, the Guarantors or their officers and of the Underwriters
set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf
of the Underwriters or the Issuer, the Guarantors or any of the indemnified persons referred to in Section&nbsp;10 hereof, and will survive
delivery of and payment for the Notes. The provisions of Sections 9 and 10 hereof shall survive the termination or cancellation of
this Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify"><U>Notices</U>. All notices and other communications hereunder shall be in writing and shall be deemed
to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication :</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in"><I>if to the Representatives:</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">[Representatives]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">[Contact Details]</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><I>if to the Issuer or the Guarantors:</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Sea Containers</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">18 Upper Ground</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">London SE1 9GL</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">United Kingdom</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Attention: Group Chief Counsel</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Email: groupchiefcounsel@wpp.com</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Telephone: +44 (0)20 7282 4600</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><I>With a copy to:</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Allen&nbsp;Overy Shearman Sterling LLP</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">One Bishops Square</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">London E1 6AD</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">United Kingdom</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Attention: Sachin Dav&eacute;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Email: Sachin.dave@aoshearman.com</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Telephone: +44 (0)20 3088 3187</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify"><U>Successors</U>. This Agreement will inure to the benefit of and be binding upon the parties hereto
and their respective successors and the indemnified persons referred to in Section 10 hereof and their respective successors and no other
person will have any right or obligation hereunder. Nothing in this Agreement is intended or shall be construed to give any other person
any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of
Notes from any Underwriter shall be deemed to be a successor merely by reason of such purchase.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">16.</TD><TD STYLE="text-align: justify"><U>Jurisdiction</U>. The Issuer and the Guarantors each agrees that any suit, action or proceeding against
the Issuer or any Guarantor brought by any Underwriter, the directors, officers, employees, Affiliates and agents of any Underwriter,
or by any person who controls any Underwriter, arising out of or based upon this Agreement or the transactions contemplated hereby may
be instituted in any U.S. federal or New York state court in the Borough of Manhattan, The City of 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 non-exclusive jurisdiction
of such courts in any suit, action or proceeding. The Issuer and the Guarantors each hereby appoints Corporate Creations Network Inc.,
600 Mamaroneck Avenue #400, Harrison, New York 100528, United States as its authorized agent (the &ldquo;Authorized Agent&rdquo;) upon
whom process may be served in any suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated
herein that may be instituted in any U.S. federal or New York state court in the Borough of Manhattan, The City of New York, by any Underwriter,
the directors, officers, employees, Affiliates and agents of any Underwriter, or by any person who controls any Underwriter, and expressly
accepts the non-exclusive jurisdiction of any such court in respect of any such suit, action or proceeding. The Issuer and the Guarantors
each hereby represents and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service
of process, and the Issuer and the Guarantors each agrees to take any and all action, including the filing of any and all documents that
may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized Agent shall
be deemed, in every respect, effective service of process upon the Issuer or the Guarantors, as the case may be. Notwithstanding the foregoing,
any action arising out of or based upon this Agreement may be instituted by any Underwriter, the directors, officers, employees, Affiliates
and agents of any Underwriter, or by any person who controls any Underwriter, in any court of competent jurisdiction in England. The parties
hereto each hereby waive any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to this Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">17.</TD><TD STYLE="text-align: justify"><U>Integration</U>. This Agreement supersedes all prior agreements and understandings (whether written
or oral) between the Issuer, the Guarantors and the Underwriters, or any of them, with respect to the subject matter hereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">18.</TD><TD STYLE="text-align: justify"><U>Applicable Law</U>.&nbsp;This Agreement will be governed by and construed in accordance with the laws
of the State of New York.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">19.</TD><TD STYLE="text-align: justify"><U>Currency</U>. Each reference in this Agreement to U.S. dollars (the &ldquo;relevant currency&rdquo;),
including by use of the symbol &ldquo;$&rdquo;, is of the essence. To the fullest extent permitted by law, the obligations of the Issuer
and/or the Guarantors in respect of any amount due under this Agreement will, notwithstanding any payment in any other currency (whether
pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the relevant currency that the party entitled
to receive such payment may, in accordance with its normal procedures, purchase with the sum paid in such other currency (after any premium
and costs of exchange) on the Business Day immediately following the day on which such party receives such payment. If the amount in the
relevant currency that may be so purchased for any reason falls short of the amount originally due, the Issuer or the Guarantors, as the
case may be, will pay such additional amounts, in the relevant currency, as may be necessary to compensate for the shortfall. Any obligation
of the Issuer or the Guarantors not discharged by such payment will, to the fullest extent permitted by applicable law, be due as a separate
and independent obligation and, until discharged as provided herein, will continue in full force and effect.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.</TD><TD STYLE="text-align: justify"><U>Counterparts</U>. This Agreement may be signed in one or more counterparts (which may include counterparts
delivered by any standard form of telecommunication), each of which shall constitute an original and all of which together shall constitute
one and the same agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">21.</TD><TD STYLE="text-align: justify"><U>Headings</U>. The section headings used herein are for convenience only and shall not affect the construction
hereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">22.</TD><TD STYLE="text-align: justify"><U>Certain Defined Terms</U>. For purposes of this Agreement, (a) except where otherwise expressly provided,
the term &ldquo;affiliate&rdquo; has the meaning set forth in Rule 405 under the Securities Act; (b) the term &ldquo;business day&rdquo;
means any day other than a day on which banks are permitted or required to be closed in London or New York City; (c) the term &ldquo;subsidiary&rdquo;
has the meaning set forth in Rule 405 under the Securities Act; and (d) &ldquo;Group&rdquo; means the Parent Guarantor and its subsidiaries,
taken together on a consolidated basis.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">23.</TD><TD STYLE="text-align: justify"><U>Recognition of the U.S. Special Resolution Regimes</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S.
Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement,
will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and
any such interest and obligation, were governed by the laws of the United States or a state of the United States.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter
becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against
such Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special
Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">As used in this
Section 23:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">&ldquo;BHC Act
Affiliate&rdquo; has the meaning assigned to the term &ldquo;affiliate&rdquo; in, and shall be interpreted in accordance with, 12 U.S.C.
&sect; 1841(k).</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">&ldquo;Covered
Entity&rdquo; means any of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a &ldquo;covered entity&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 252.82(b);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a &ldquo;covered bank&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 47.3(b); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">a &ldquo;covered FSI&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 382.2(b).</TD></TR></TABLE>

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

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">&ldquo;Default
Right&rdquo; has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &sect;&sect; 252.81, 47.2
or 382.1, as applicable.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">&ldquo;U.S. Special
Resolution Regime&rdquo; means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title
II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">24.</TD><TD STYLE="text-align: justify"><U>Waiver of Jersey customary law rights</U>. Each of the Issuer and each Guarantor irrevocably and unconditionally
waives such right as it may have or claim under Jersey law:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">whether by virtue of the&nbsp;<I>droit de discussion</I>&nbsp;or otherwise to require that recourse be
had to the assets of any other person before any claim is enforced against it under this Agreement in respect of the obligations assumed
by it under this Agreement; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">whether by virtue of the&nbsp;<I>droit de division</I>&nbsp;or otherwise to require that any liability
under this Agreement be divided or apportioned with any other person or reduced in any manner whatsoever.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"></P>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the foregoing is in accordance with your understanding
of our agreement, please sign and return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall represent
a binding agreement between the Issuer, the Guarantors and the several Underwriters.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[ISSUER]</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[GUARANTOR]</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[GUARANTOR[S]]</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0">The foregoing Agreement is hereby confirmed</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">and accepted as of the date first above written.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 65%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[Representatives]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As for themselves and as Representatives of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the other several Underwriters listed on</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.75pt">Schedule 1 hereto</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[REPRESENTATIVE]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[REPRESENTATIVE]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0"></P>

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

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Schedule
1&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 84%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
    <P STYLE="text-align: left; font: 7.5pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; border-bottom: black 0.75pt solid"><B>Underwriters</B></P></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7.5pt"><B>Principal&nbsp;Amount&nbsp;of<BR>
Notes&nbsp;to&nbsp;be&nbsp;Purchased</B></FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Representative]</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">U.S.$</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Representative]</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Underwriter]</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">[Underwriter]</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font: 11pt Times New Roman, Times, Serif; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">U.S.$</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 0.75pt; border-top: black 0.75pt solid; border-bottom: black 0.75pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 0.75pt; border-top: black 0.75pt solid; border-bottom: black 0.75pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Schedule
2&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center">Schedule of Free Writing Prospectuses included
in the Time of Sale Information</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Final Term Sheet filed pursuant to Rule 433</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">ANNEX A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><U>Form of Opinion of Allen Overy Shearman &amp;
Sterling LLP, US Counsel to the Issuer and the Guarantors</U></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">ANNEX B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><U>Form of Opinion of Mourant Ozannes (Jersey
LLP), Jersey Counsel to the Parent Guarantor</U></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">ANNEX C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><U>Form of Opinion of Allen Overy Shearman and
Sterling LLP, English Counsel to the Issuer and Guarantors</U></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0"></P>

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

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in">Schedule
3&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center">[Non- U.S. Selling Agents]</P>



<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 7.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">30</FONT></P>

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<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>ss5271995_ex0401.htm
<DESCRIPTION>FORM OF INDENTURE
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="text-align: right"><FONT STYLE="font-size: 12pt"><B>Exhibit 4.1</B></FONT></P>

<P STYLE="text-align: center"><B>FORM OF BASE INDENTURE&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><BR>
WPP 2025 LLC,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>as ISSUER</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">WPP FINANCE 2010,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>as ISSUER</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">WPP PLC,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>as PARENT GUARANTOR</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">WPP JUBILEE LIMITED,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">WPP 2005 LIMITED,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>as SUBSIDIARY GUARANTORS</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">WILMINGTON TRUST, NATIONAL ASSOCIATION,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>as TRUSTEE</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CITIBANK, N.A.,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>as REGISTRAR and PAYING AGENT</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-decoration: underline solid">_____________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Indenture</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Dated as of  [&nbsp;&nbsp;],
20[&nbsp;&nbsp;]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-decoration: underline solid">_____________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Debt Securities and Guarantees</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>CROSS-REFERENCE TABLE</U></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 COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><U>TIA Sections</U></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 0.7pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>Indenture Sections</U></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">310</TD>
    <TD STYLE="width: 52%; padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(1)</TD>
    <TD STYLE="width: 39%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(2)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(3)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(4)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(5)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">311</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">312</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">7.1</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">7.2</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">7.2</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">313</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">7.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">7.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.5; 7.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(d)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">7.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">314</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(1)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">10.13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(2)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">10.13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(3)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">10.13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(4)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">10.4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)(1)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.2(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)(2)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.2(a)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)(3)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">N/A</TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 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 STYLE="padding-left: 5.75pt; width: 9%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify; width: 52%">(d)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify; width: 39%">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(e)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.2(b)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(f)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">315</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.1</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.2</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.1</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(d)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">6.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(e)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">5.14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">316</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a) (last sentence)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.1</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(1)(A)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">5.12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(1)(B)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">5.13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(2)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">5.8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.4(d)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">317</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(1)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">5.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)(2)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">5.4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(b)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">10.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">318</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(a)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; text-align: justify">(c)</TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 0.55in; text-align: justify">1.6</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">_________________________________<BR>
N/A means not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Note:&#9;The Cross-Reference Table shall not
for any purpose be deemed to be a part of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Table
of Contents</B></FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">One
    Definitions and Other Provisions of General Application</FONT></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 6pt; padding-bottom: 0in">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.1&nbsp;&nbsp;&nbsp;Definitions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.2&nbsp;&nbsp;&nbsp;Compliance Certificates and Opinions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">17</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.3&nbsp;&nbsp;&nbsp;Form of Documents Delivered to the Trustee and the Agents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">18</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.4&nbsp;&nbsp;&nbsp;Acts of Holders; Record Dates</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">18</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.5&nbsp;&nbsp;&nbsp;Notices, Etc., to Trustee, Agents, Issuers and Guarantors</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">20</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.6&nbsp;&nbsp;&nbsp;Notices to Holders; Waiver</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.7&nbsp;&nbsp;&nbsp;Conflicts with Trust Indenture Act</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.8&nbsp;&nbsp;&nbsp;Effects of Headings and Table of Contents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.9&nbsp;&nbsp;&nbsp;Successors and Assigns</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.10&nbsp;&nbsp;&nbsp;Separability Clause</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">23</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.11&nbsp;&nbsp;&nbsp;Counterparts</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">23</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.12&nbsp;&nbsp;&nbsp;Electronic Signatures</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">23</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.13&nbsp;&nbsp;&nbsp;Benefits of Indenture</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.14&nbsp;&nbsp;&nbsp;Governing Law</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.15&nbsp;&nbsp;&nbsp;Submission to Jurisdiction; Appointment of Agent for Service of Process; Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.16&nbsp;&nbsp;&nbsp;Legal Holidays</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">25</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.17&nbsp;&nbsp;&nbsp;Force Majeure</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">25</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.18&nbsp;&nbsp;&nbsp;Waiver of Jersey Customary Law Rights</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">25</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.19&nbsp;&nbsp;&nbsp;U.S.A. Patriot Act</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">25</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Two
    Security Forms</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">26</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">2.1&nbsp;&nbsp;&nbsp;Forms Generally</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">26</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">2.2&nbsp;&nbsp;&nbsp;Form of Face of Security</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">26</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">2.3&nbsp;&nbsp;&nbsp;Form of Reverse of Security</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">2.4&nbsp;&nbsp;&nbsp;Form of Trustee&#8217;s Certificate of Authentication<B></B></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Three
    The Securities</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.1&nbsp;&nbsp;&nbsp;Amount Unlimited; Issuable in Series</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.2&nbsp;&nbsp;&nbsp;Denominations</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">42</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.3&nbsp;&nbsp;&nbsp;Execution, Authentication, Delivery and Dating</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">42</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.4&nbsp;&nbsp;&nbsp;Temporary Securities</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.5&nbsp;&nbsp;&nbsp;Registration, Registration of Transfer and Exchange</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.6&nbsp;&nbsp;&nbsp;Mutilated, Destroyed, Lost and Stolen Securities</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.7&nbsp;&nbsp;&nbsp;Payment of Interest; Interest Rights Preserved</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.8&nbsp;&nbsp;&nbsp;Persons Deemed Owners</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">48</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.9&nbsp;&nbsp;&nbsp;Cancellation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.10&nbsp;&nbsp;&nbsp;Computation of Interest</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.11&nbsp;&nbsp;&nbsp;Further Issues</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.12&nbsp;&nbsp;&nbsp;CUSIP and ISIN Numbers</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.13&nbsp;&nbsp;&nbsp;Agents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">49</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.14&nbsp;&nbsp;&nbsp;Withholding</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">50</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Four
    Satisfaction and Discharge</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">50</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">4.1&nbsp;&nbsp;&nbsp;Satisfaction and Discharge of Indenture</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">50</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">4.2&nbsp;&nbsp;&nbsp;Application of Trust Money</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">51</TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in; width: 90%">ARTICLE <FONT STYLE="text-transform: uppercase">Five
    Remedies</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in; width: 10%">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.1&nbsp;&nbsp;&nbsp;Events of Default.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.2&nbsp;&nbsp;&nbsp;Acceleration of Maturity; Rescission and Annulment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">53</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.3&nbsp;&nbsp;&nbsp;Collection of Indebtedness and Suits for Enforcement by Trustee.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">54</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.4&nbsp;&nbsp;&nbsp;Trustee May File Proofs of Claim.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.5&nbsp;&nbsp;&nbsp;Trustee May Enforce Claims Without Possession of Securities.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.6&nbsp;&nbsp;&nbsp;Application of Money Collected.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.7&nbsp;&nbsp;&nbsp;Limitation on Suits.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.8&nbsp;&nbsp;&nbsp;Unconditional Right of Holders to Receive Principal, Premium and Interest.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.9&nbsp;&nbsp;&nbsp;Restoration of Rights and Remedies.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.10&nbsp;&nbsp;&nbsp;Rights and Remedies Cumulative.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.11&nbsp;&nbsp;&nbsp;Delay or Omission Not Waiver.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.12&nbsp;&nbsp;&nbsp;Control by Holders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.13&nbsp;&nbsp;&nbsp;Waiver of Past Defaults.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.14&nbsp;&nbsp;&nbsp;Undertaking for Costs.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.15&nbsp;&nbsp;&nbsp;Waiver of Usury, Stay or Extension Laws.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Six
    The Trustee</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.1&nbsp;&nbsp;&nbsp;Certain Duties and Responsibilities.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.2&nbsp;&nbsp;&nbsp;Notice of Defaults.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.3&nbsp;&nbsp;&nbsp;Certain Rights of Trustee.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.4&nbsp;&nbsp;&nbsp;Not Responsible for Recitals or Issuance of Securities.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.5&nbsp;&nbsp;&nbsp;May Hold Securities.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.6&nbsp;&nbsp;&nbsp;Money Held in Trust.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.7&nbsp;&nbsp;&nbsp;Compensation and Reimbursement.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.8&nbsp;&nbsp;&nbsp;Conflicting Interests.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">62</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.9&nbsp;&nbsp;&nbsp;Corporate Trustee Required; Eligibility.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">62</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.10&nbsp;&nbsp;&nbsp;Resignation and Removal; Appointment of Successor.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">63</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.11&nbsp;&nbsp;&nbsp;Acceptance of Appointment by Successor.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.12&nbsp;&nbsp;&nbsp;Merger, Conversion, Consolidation or Succession to Business.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.13&nbsp;&nbsp;&nbsp;Preferential Collection of Claims Against Issuer or Guarantors.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.14&nbsp;&nbsp;&nbsp;Appointment of Authenticating Agent.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.15&nbsp;&nbsp;&nbsp;Trustee&#8217;s Duties Regarding Reductions of Capital.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">67</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Seven
    Holders&#8217; Lists and Reports by Trustee and Issuer and Guarantor</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">67</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.1&nbsp;&nbsp;&nbsp;Issuer to Furnish Trustee Names and Addresses of Holders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">67</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.2&nbsp;&nbsp;&nbsp;Preservation of Information; Communications to Holders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">68</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.3&nbsp;&nbsp;&nbsp;Reports by Trustee.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">68</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.4&nbsp;&nbsp;&nbsp;Reports by Issuer and Guarantors.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">68</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Eight
    Consolidation, Merger, Conveyance, Transfer or Lease</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">69</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.1&nbsp;&nbsp;&nbsp;Issuer or Guarantors May Consolidate, Etc. Only on Certain Terms.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">69</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.2&nbsp;&nbsp;&nbsp;Successor Substituted.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">70</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Nine
    Supplemental Indentures</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">70</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.1&nbsp;&nbsp;&nbsp;Supplemental Indentures without Consent of Holders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">70</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.2&nbsp;&nbsp;&nbsp;Supplemental Indentures with Consent of Holders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">71</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.3&nbsp;&nbsp;&nbsp;Execution of Supplemental Indentures.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">72</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.4&nbsp;&nbsp;&nbsp;Effect of Supplemental Indentures.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">73</TD></TR>
</TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in; width: 90%">9.5&nbsp;&nbsp;&nbsp;Conformity with Trust Indenture Act.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in; width: 10%">73</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.6&nbsp;&nbsp;&nbsp;Reference in Securities to Supplemental Indentures.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">73</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Ten
    Covenants</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">73</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.1&nbsp;&nbsp;&nbsp;Payment of Principal, Premium and Interest.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">73</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.2&nbsp;&nbsp;&nbsp;Maintenance of Office or Agency.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">73</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.3&nbsp;&nbsp;&nbsp;Money for Security Payments to be Held in Trust.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">75</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.4&nbsp;&nbsp;&nbsp;Statement by Officers as to Default.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">76</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.5&nbsp;&nbsp;&nbsp;Existence.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">76</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.6&nbsp;&nbsp;&nbsp;Payment of Taxes and Other Claims.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">76</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.7&nbsp;&nbsp;&nbsp;Additional Amounts.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">77</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.8&nbsp;&nbsp;&nbsp;Additional Guarantees.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">79</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.9&nbsp;&nbsp;&nbsp;Limitations on Security Interests.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">80</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.10&nbsp;&nbsp;&nbsp;Limitation on Sale and Leaseback.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">80</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.11&nbsp;&nbsp;&nbsp;Waiver of Certain Covenants.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">81</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.12&nbsp;&nbsp;&nbsp;Indemnification of Judgment Currency.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">81</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.13&nbsp;&nbsp;&nbsp;Provision of Exchange Act Reports and Other Information.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">82</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Eleven
    Redemption of Securities</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">82</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.1&nbsp;&nbsp;&nbsp;Applicability of Section.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">82</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.2&nbsp;&nbsp;&nbsp;Election to Redeem; Notice to Trustee and Relevant Agents.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">83</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.3&nbsp;&nbsp;&nbsp;Selection by the Relevant Agents of Securities to Be Redeemed.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">83</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.4&nbsp;&nbsp;&nbsp;Notice of Redemption.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">83</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.5&nbsp;&nbsp;&nbsp;Deposit of Redemption Price.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">84</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.6&nbsp;&nbsp;&nbsp;Securities Payable on Redemption Date.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">84</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.7&nbsp;&nbsp;&nbsp;Securities Redeemed in Part.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">85</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.8&nbsp;&nbsp;&nbsp;Optional Redemption.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">85</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.9&nbsp;&nbsp;&nbsp;Optional Redemption Due to Changes in Tax Treatment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">87</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">11.10&nbsp;&nbsp;&nbsp;Repurchase Upon Change of Control Repurchase Event.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">89</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Twelve
    Legal Defeasance and Covenant Defeasance</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">91</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.1&nbsp;&nbsp;&nbsp;Option to Effect Defeasance or Covenant Defeasance.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">91</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.2&nbsp;&nbsp;&nbsp;Defeasance and Discharge.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.3&nbsp;&nbsp;&nbsp;Covenant Defeasance.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.4&nbsp;&nbsp;&nbsp;Conditions to Defeasance or Covenant Defeasance.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">92</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.5&nbsp;&nbsp;&nbsp;Deposited Money and US. Government Obligations to be Held in Trust; Miscellaneous Provisions.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">94</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.6&nbsp;&nbsp;&nbsp;Reinstatement.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">94</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 6pt; padding-bottom: 0in; padding-left: 0in">ARTICLE <FONT STYLE="text-transform: uppercase">Thirteen
    Guarantee of Securities</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 6pt; padding-bottom: 0in">95</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">13.1&nbsp;&nbsp;&nbsp;Guarantee.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">95</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">13.2&nbsp;&nbsp;&nbsp;Execution and Delivery of Indenture.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">96</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify"><B>INDENTURE</B>, dated as of  [&nbsp;&nbsp;], 20[&nbsp;&nbsp;], among WPP FINANCE
2010, a private unlimited liability company incorporated under the laws of England and Wales (the &#8220;English Issuer&#8221;), WPP 2025
LLC, a limited liability company incorporated under the laws of Delaware (the &#8220;US Issuer&#8221; and together with the English Issuer,
each herein called an &#8220;Issuer&#8221; as further defined below, and together, the &#8220;Issuers&#8221;), WPP PLC, a public company
limited by shares incorporated under the laws of Jersey (herein called the &#8220;Parent Guarantor&#8221;), WPP JUBILEE LIMITED, a private
limited company incorporated under the laws of England and Wales and WPP 2005 LIMITED, a private limited company incorporated under the
laws of England and Wales (collectively, the &#8220;Subsidiary Guarantors&#8221; and, together with the Parent Guarantor, the &#8220;Guarantors&#8221;),
WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as Trustee (herein called the &#8220;Trustee&#8221;), CITIBANK,
N.A., a national banking association, as the initial Registrar and Paying Agent (herein called the &#8220;Registrar&#8221; or &#8220;Paying
Agent&#8221; as applicable).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><B>RECITALS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">The Issuers have duly authorized the execution and delivery of this Indenture to provide for the issuance
from time to time of debt securities issued by the relevant Issuer (herein called collectively the &#8220;Securities&#8221;), to be issued
in one or more series as provided in this Indenture.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">The Guarantors have duly authorized the execution and delivery of this Indenture to provide for the Guarantees
(as defined below) of the Securities provided for herein.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">All things necessary to make this Indenture a valid agreement of the Issuers and the Guarantors, in accordance
with its terms, have been done.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">NOW, THEREFORE, THIS INDENTURE WITNESSETH:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">1.</TD><TD STYLE="text-align: justify">For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it
is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
One<BR>
<BR>
Definitions and Other Provisions of General Application</B></FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.1</TD><TD><I>Definitions.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For all purposes of this Indenture, except
as otherwise expressly provided or unless the context otherwise requires:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the terms defined in this Section 1.1 have the meanings assigned to them in this Section 1.1 and include
the plural as well as the singular;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with
International Financial Reporting Standards, and, except as otherwise herein expressly provided, the term &#8220;generally accepted accounting
principles&#8221; with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally
accepted at the date of such computation;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">unless the context otherwise requires, any reference to an &#8220;Article&#8221; or a &#8220;Section&#8221;
refers to an Article or Section, as the case may be, of this Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">unless the context otherwise requires, any reference to a statute, rule or regulation refers to the same
(including any successor statute, rule or regulation thereto) as it may be amended from time to time; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the words &#8220;herein&#8221;, &#8220;hereof&#8221; and &#8220;hereunder&#8221; and other words of similar
import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Act&#8221;, when used with respect to
any Holder, has the meaning specified in Section 1.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Additional Amounts&#8221; has the meaning
specified in Section 10.7. Any reference in this Indenture to principal, premium or interest in respect of the Securities shall be deemed
also to refer to any Additional Amounts that may be payable as set forth herein and under the Securities or the Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Additional Taxing Jurisdiction&#8221;
has the meaning specified in Section 10.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Affiliate&#8221; of any specified Person
means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified
Person. For the purposes of this definition, &#8220;control&#8221; when used with respect to any specified Person means the power to direct
the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or
otherwise; and the terms &#8220;controlling&#8221; and &#8220;controlled&#8221; have meanings correlative to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Agent&#8221; means any of the Authenticating
Agent, the Registrar or the Paying Agent and &#8220;Agents&#8221; shall mean, collectively, the Authenticating Agent, the Registrar, the
Paying Agent, and any other agents appointed under this Indenture, but does not include the Trustee unless the Trustee is separately appointed
to act in such capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Agent Members&#8221; has the meaning
specified in Section 3.5(b)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Applicable Procedures of the Depositary&#8221;
means, with respect to any matter at any time, the policies and procedures of the Depositary, if any, that are applicable to such matter
at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Applicable Taxing Jurisdiction&#8221;
has the meaning specified in Section 10.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Authenticating Agent&#8221; means any
Person authorized by the Trustee pursuant to Section 6.14 to act on behalf of the Trustee to authenticate Securities of one or more series,
and initially, the Authenticating Agent shall be Citibank, N.A..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Authorized Agent&#8221; has the meaning
specified in Section <FONT STYLE="letter-spacing: -0.2pt">1.15.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Authorized Officer&#8221; means any
person (whether designated by name or the persons for the time being holding a designated office) appointed by or pursuant to a Board
Resolution for the purpose, or a particular purpose, of this Indenture, <I>provided </I>that written notice of such appointment shall
have been given to the Trustee, Authenticating Agent and the Paying Agent.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Beneficial owner&#8221; has the meaning
determined in accordance with Rule 13d-3 under the Exchange Act and the terms &#8220;beneficial ownership&#8221; and &#8220;beneficially
owned&#8221; have meanings correlative to the definition of beneficial owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Board of Directors&#8221;, when used
with reference to an Issuer or a Guarantor, means the board of directors (or equivalent supervisory body) of such Issuer or such Guarantor,
as the case may be, or any committee of that board duly authorized to act for it in respect hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Board Resolution&#8221;, when used with
reference to an Issuer or a Guarantor, means a copy of a resolution certified by the Secretary or an Assistant Secretary of such Issuer
or such Guarantor, as the case may be, to have been duly adopted by the Board of Directors and to be in full force and effect on the date
of such certification, and delivered to the Trustee and the Paying Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Business Day&#8221; means each Monday,
Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in New York City or London generally are authorized
or obligated by law, regulation or executive order to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Change of Control&#8221; has the meaning
specified in Section 11.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Change of Control Repurchase Event&#8221;
has the meaning specified in Section 11.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Change of Control Repurchase Event Notice&#8221;
has the meaning specified in Section 11.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Clearstream&#8221; has the meaning specified
in Section <FONT STYLE="letter-spacing: -0.1pt">3.5.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Code&#8221; means the U.S. Internal
Revenue Code of 1986 (including any successor code thereto), as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Commission&#8221; means the U.S. Securities
and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this
instrument such Commission is not existing and performing the duties now assigned to it under applicable law, then the body performing
such duties at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Corporate Trust Office&#8221; means,
(A) in the case of the Trustee, the designated office of the Trustee in which at any particular time its corporate trust business shall
be administered, which office as of the date hereof is located at 277 Park Avenue, Floor 25, New York, New York, 10172, Attention: WPP
Notes Administrator, and (B) in the case of any of the Agents, the designated office of such Agent in which at any particular time its
corporate trust business shall be administered, which office as of the date hereof is located at 388 Greenwich Street, New York, NY 10013,
Attention: Agency and Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;corporation&#8221; means a corporation,
association, company, joint-stock company or business trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Covenant Defeasance&#8221; has the meaning
specified in Section 12.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Defaulted Interest&#8221; has the meaning
specified in Section <FONT STYLE="letter-spacing: -0.2pt">3.7.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Defeasance&#8221; has the meaning specified
in Section 12.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Defeasible Series&#8221; has the meaning
specified in Section 12.1.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Depositary&#8221; means, with respect
to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a clearing agency registered under
the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.1. Unless otherwise provided
pursuant to Section 3.1, the Depositary shall be The Depository Trust Company until a successor Depositary shall have become Depositary
pursuant to the applicable provisions of this Indenture, and thereafter &#8220;Depositary&#8221; shall mean such successor Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Director&#8221; means any member of
a Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Dollar&#8221; and &#8220;U.S.$&#8221;
mean a U.S. dollar or other equivalent unit in such coin or currency of the United States of America as at the time shall be legal tender
for the payment of public and private debts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Euroclear&#8221; has the meaning specified
in Section 3.5(b)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Event of Default&#8221; has the meaning
specified in Section <FONT STYLE="letter-spacing: -0.2pt">5.1.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Exchange Act&#8221; means the U.S. Securities
Exchange Act of 1934 (including any successor act thereto), as amended from time to time, and (unless the context otherwise requires)
includes the rules and regulations of the Commission promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Expiration Date&#8221; has the meaning
specified in Section <FONT STYLE="letter-spacing: -0.2pt">1.4.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Financial Indebtedness&#8221; means
any indebtedness for or in respect of (a) moneys borrowed; (b) any amount raised by acceptance under any acceptance credit facility or
dematerialized equivalent; (c) any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan
stock or any similar instrument; (d) the amount of any liability in respect of any lease or hire purchase contract which would, in accordance
with IFRS, be treated as a finance or capital lease;(e) receivables sold or discounted (other than any receivables to the extent they
are sold on a non-recourse basis); (f) any amount raised under any other transaction (including any forward sale or purchase agreement)
having the commercial effect of a borrowing; or (g) any derivative transaction entered into in connection with protection against or benefit
from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market value
shall be taken into account), provided that no amount described in or due under arrangements described in this definition shall constitute
Financial Indebtedness unless the relevant amount of Financial Indebtedness, either alone or when aggregated (without duplication)with
other relevant amounts of Financial Indebtedness, exceeds &pound;100,000,000 or its equivalent in other currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Fitch&#8221; means Fitch Ratings Ltd, or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Global Security&#8221; means a Security
held by or on behalf of a Depositary and in which beneficial interests are evidenced on the records of such Depositary or its Agent Members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Guarantee&#8221; means the guarantee
by a Guarantor of any Security of any series authenticated and delivered pursuant to this Indenture (i) if provided for in a supplemental
indenture to this Indenture, (ii) if specified in a Board Resolution of a Guarantor as contemplated by Section 3.1 or (iii) as otherwise
applicable to Article Thirteen.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Guarantor&#8221; means each of the Persons
named as a &#8220;Subsidiary Guarantor&#8221; in this instrument and any &#8220;Parent Guarantor&#8221; and any other entity guaranteeing
any Security, in each case until a Successor Person shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter &#8220;Guarantor&#8221; shall mean such Successor Person.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Holder&#8221; means, with respect to
a Security, the Person in whose name such Security is registered in the Security <FONT STYLE="letter-spacing: -0.1pt">Register.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Indebtedness&#8221; means any indebtedness
of any Person for money borrowed, whether incurred, assumed or guaranteed, and including obligations under capitalized leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Indenture&#8221; means this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more supplemental indentures hereto entered
into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture,
the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture,
respectively. The term &#8220;Indenture&#8221; shall also include the terms of particular series of Securities established as contemplated
by Section 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Interest Payment Date&#8221; means,
when used with respect to any Security, the Stated Maturity of an installment of interest on such <FONT STYLE="letter-spacing: -0.1pt">Security.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Investment Company Act&#8221; means
the U.S. Investment Company Act of 1940 (including any successor act thereto), as amended from time to time, and (unless the content otherwise
requires) includes the rules and regulations of the Commission promulgated <FONT STYLE="letter-spacing: -0.1pt">thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Investment Grade&#8221; means rating
of Baa3/BBB-, or equivalent, or better from any Rating Agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Issuer&#8221; means each Person named
as an &#8220;Issuer&#8221; in the first paragraph of this instrument (until a Successor Person shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter &#8220;Issuer&#8221; shall mean such relevant Successor Person), and with respect
to any series of Securities, the &#8220;relevant Issuer&#8221; means the Person identified in any series of Securities issued hereunder
as the Issuer pursuant to Section 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Issuer Request&#8221; or &#8220;Issuer
Order&#8221; means, with respect to Securities of a series, a written request or order signed in the name of the relevant Issuer of such
Securities by any of the relevant Issuer&#8217;s Directors and/or Authorized Officers, and delivered to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Judgment Currency&#8221; has the meaning
specified in Section <FONT STYLE="letter-spacing: -0.1pt">10.12.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Maturity&#8221;, when used with respect
to any Security, means the date on which the principal of such Security becomes due and payable as therein provided or established as
contemplated by Section 3.1, whether at the Stated Maturity or by declaration of acceleration, call for redemption, call for repurchase
or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Moody&#8217;s&#8221; means Moody&#8217;s
Investors Services, Inc., or any successor <FONT STYLE="letter-spacing: -0.1pt">thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Make-Whole Redemption Price&#8221; has
the meaning as set forth in Section 11.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Notice of Default&#8221; means a written
notice of the kind specified in Section 5.1(c) or <FONT STYLE="letter-spacing: -0.2pt">(d).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Officers&#8217; Certificate&#8221;,
with respect to the relevant Issuer or a Guarantor, means a certificate signed (A) by (i) any two executive directors, (ii) any two Authorized
Officers, or (iii) an executive director and an Authorized Officer, or (B) by (i) any executive director or Authorized Officer, and (ii)
the secretary or a deputy or assistant secretary, of such Issuer or such Guarantor, as the case may be, and delivered to the Trustee,
Authenticating Agent and/or the Paying Agent.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Opinion of Counsel&#8221; means a written
opinion of counsel, who may be counsel for an Issuer or a Guarantor, and delivered to the <FONT STYLE="letter-spacing: -0.1pt">Trustee,
Authenticating Agent and/or the Paying Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Outstanding&#8221;, when used with respect
to Securities, means as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, <I>except</I>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Securities cancelled by the Registrar or delivered to the Registrar for <FONT STYLE="letter-spacing: -0.1pt">cancellation
prior to such determination;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Securities for whose payment or redemption money in the necessary amount has prior to such determination
been deposited with the Paying Agent (other than the relevant Issuer or a Guarantor) in trust or set aside and segregated in trust by
the relevant Issuer (if the relevant Issuer or a Guarantor shall act as its own or their own Paying Agent) for the Holders of such Securities;
<I>provided </I>that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture
or provision therefor satisfactory to the Trustee and the Paying Agent has been made;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Securities as to which Defeasance has been effected pursuant to Section 12.2; <FONT STYLE="letter-spacing: -0.25pt">and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Securities which have been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have
been presented to the Registrar proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities
are valid obligations of the relevant Issuer;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>provided, however</I>, that in determining
whether the Holders of the requisite aggregate principal amount of the Outstanding Securities have given, made or taken any request, demand,
authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) if the principal amount of a Security
payable at Maturity is to be determined by reference to an index or indices, the principal amount of such Security that shall be deemed
to be Outstanding shall be the face amount thereof, (B) if, as of such date, the principal amount payable at the Stated Maturity of a
Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as established
as contemplated by Section 3.1, (C) the principal amount of a Security denominated in one or more foreign currencies or currency units
which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner established as contemplated
by Section 3.1, of the principal amount of such Security (or, in the case of a Security described in Clause (A) above, of the amount determined
as provided in such Clause), and Securities owned by the relevant Issuer, a Guarantor or any other obligor upon the Securities or any
Affiliate of the relevant Issuer, a Guarantor or of such other obligor shall be disregarded and deemed not to be Outstanding, except that,
in determining whether the Trustee or the Registrar, as applicable, shall be protected in relying upon any such request, demand, authorization,
direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee or a Responsible Officer
of the Registrar, as applicable, actually knows to be so owned shall be so disregarded. Securities so owned which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee or the Registrar, as applicable,
the pledgee&#8217;s right so to act with respect to such Securities and that the pledgee is not the relevant Issuer or a Guarantor or
any other obligor upon the Securities or any Affiliate of the relevant Issuer or a Guarantor or of such other <FONT STYLE="letter-spacing: -0.1pt">obligor.
For the avoidance of doubt, the Trustee shall be able to conclusively rely on information provided by the Registrar.</FONT></P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Par Call Date&#8221; has the meaning
as set forth in Section 11.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Parent Guarantor&#8221; means WPP plc
or any Person who owns, directly or indirectly, more than 50% of the common equity of the Issuers and all of the other Subsidiary Guarantors
and which is a guarantor of the Securities, until a Successor Person shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter &#8220;Parent Guarantor&#8221; shall mean such Successor <FONT STYLE="letter-spacing: -0.1pt">Person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Paying Agent&#8221; means the Paying
Agent or any other Person authorized by the relevant Issuer to pay the principal of, premium, if any, or interest on any Securities on
behalf of the relevant Issuer, but shall not include the Trustee unless the Trustee is separately appointed as a Paying Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Permitted Sale and Leaseback Transaction&#8221;
has the meaning specified in Section 10.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Permitted Security Interests&#8221;
means<FONT STYLE="letter-spacing: -0.1pt">:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Security Interests arising by operation of law in the ordinary course of business including, without limitation,
statutory liens and encumbrances;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any Security Interest over the assets and/or revenues of a company which became or becomes a Subsidiary
of the relevant Issuer or a Guarantor after the date of this Indenture and which Security Interest is in existence or contracted to be
given as at the date it becomes a Subsidiary (and which was not created in contemplation of it becoming a Subsidiary);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">those Security Interests existing at the date of this Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Security Interests securing the performance of bids, tenders, bonds, leases, contracts (other than in
respect of Indebtedness), statutory obligations, surety, customs and appeal bonds and other obligations of like nature (but not including
obligations in respect of Indebtedness) incurred in the ordinary course of business;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Security Interests arising out of judgments or awards which are being contested in good faith and with
respect to which an appeal or proceeding for review has been instituted or the time for doing so has not yet expired;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Security Interests upon any property which are created or incurred contemporaneously with the acquisition
of such property to secure or provide for the payment of any part of the purchase price of such property (but no other amounts); provided
that any such Security Interest shall not apply to any other property of the purchaser thereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">any Security Interest arising out of title retention provisions in a supplier&#8217;s conditions of supply
of goods or services acquired by the Parent Guarantor or any of its Subsidiaries in the ordinary course of business;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">any right of any bank or financial institution of combination or consolidation of accounts or right to
set-off or transfer any sum or sums standing to the credit of any account (or appropriate any securities held by such bank or financial
institution) in or towards satisfaction of any present or future liabilities to that bank or financial institution;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any Security Interest securing Indebtedness re-financing Indebtedness secured by Security Interests permitted
by clauses (b), (c) or (f) above or this clause (i); provided that the maximum principal amount of the Indebtedness secured by such Security
Interests at the time of such refinancing is not increased and such Security Interests do not extend to any assets which were not subject
to the Security Interests securing the refinanced Indebtedness;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">Security Interests in favor of WPP plc or any of its Restricted Subsidiaries or, after the time that the
Securities are guaranteed by a Parent Guarantor other than WPP plc, Security Interests in favor of the Parent Guarantor or any of its
Restricted <FONT STYLE="letter-spacing: -0.1pt">Subsidiaries;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">(i) any Security Interests created or outstanding on or over any of the assets of WPP plc or any of its
Subsidiaries issued in connection with an accounts receivable purchase facility, receivables financing or similar arrangement, provided
that the aggregate outstanding amount secured by such Security Interests permitted by this clause (k)(i) created or outstanding shall
not exceed 15% of the total assets (meaning fixed assets plus current assets as shown on the consolidated financial statements) of WPP
plc as reported at the most recent year-end or (ii) after the time that the Securities are guaranteed by a Parent Guarantor other than
WPP plc (following which time clause (k)(i) shall cease to have effect), any Security Interests created or outstanding on or over any
of the Parent Guarantor&#8217;s assets or the assets of any of its Subsidiaries issued in connection with an accounts receivable purchase
facility, receivables financing or similar arrangement, provided that the aggregate outstanding amount secured by such Security Interests
permitted by this clause (k)(ii) created or outstanding shall not at any time exceed 15% of the total assets (meaning fixed assets plus
current assets as shown on the consolidated financial statements) of the Parent Guarantor as reported at the most recent year-end (or
if the Parent Guarantor did not file reports as of the most recent year-end, 15% of the total assets (meaning fixed assets plus current
assets as shown on the consolidated financial statements) of WPP plc as reported at the most recent year-end by WPP plc); and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">(i) any other Security Interest created or outstanding on or over any of the assets of WPP plc or any
of its Restricted Subsidiaries; provided that the aggregate outstanding amount secured by all such Security Interests permitted by this
clause (l)(i) created or outstanding shall not at any time exceed U.S.$40,000,000 or (ii) after the time that the Securities are guaranteed
by a Parent Guarantor other than WPP plc (following which time clause (l)(i) shall cease to have effect), any other Security Interest
created or outstanding on or over any of the Parent Guarantor&#8217;s assets or the assets of any of its Restricted Subsidiaries; provided,
further, that the aggregate outstanding amount secured by all such Security Interests permitted by this clause (l)(ii) created or outstanding
shall not at any time exceed U.S.$40,000,000.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Person&#8221; means any individual,
corporation, partnership, joint venture, trust, unincorporated organization or government or any agency or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Place of Payment&#8221;, when used with
respect to the Securities of any series, means the place or places where the principal of and any premium and interest on the Securities
of that series are payable established as contemplated by Section 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Predecessor Security&#8221; of any particular
Security, means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and,
for the purposes of this definition, any Security authenticated and delivered under Section 3.6 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Property&#8221; of any Person means
all types of real, personal, tangible, intangible or mixed property (including any related contractual rights) owned by such Person whether
or not included in the most recent consolidated balance sheet of such Person under United States generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&ldquo;Rating Agencies&rdquo; means
Moody&rsquo;s, S&amp;P and Fitch, and, if any of
Moody&rsquo;s, S&amp;P or Fitch ceases to rate the Securities or fails to make a rating of the Securities publicly available for
reasons outside of the control of the relevant Issuer, a Substitute Rating Agency, and &ldquo;Rating Agency&rdquo; means any one of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Redemption Date&#8221; when used with
respect to any Security to be redeemed, means the date fixed for such redemption established as contemplated by Section 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Redemption Price&#8221; when used with
respect to any Security to be redeemed, means the price at which it is to be redeemed established as contemplated by Section 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Regular Record Date&#8221; for the interest
payable on any Interest Payment Date on any Security of any series means the date established for that purpose as contemplated by Section
3.1 irrespective whether such date is a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Repurchase Date&#8221; when used with
respect to any Security to be repurchased, means the date fixed for such repurchase established as contemplated by Section 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Repurchase Period&#8221; has the meaning
specified in Section 11.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Responsible Officer&#8221; when used
(i) with respect to the Trustee, shall mean an officer assigned to the Corporate Trust Office, including any vice president, assistant
vice president, senior trust officer or any other officer of the Trustee customarily performing functions similar to those performed by
any of the above-designated officers and having direct responsibility for the administration of this Indenture and also means, with respect
to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity
with the particular subject and (ii) with respect to any Agent shall mean any officer of such Agent assigned to the corporate trust department
(or any successor group or department performing similar functions) who has direct responsibility for the administration of this Indenture,
and also, with respect to a particular corporate trust matter, any other officer of the Agent to whom such matter is referred because
of his or her knowledge of and familiarity with the particular subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Restricted Subsidiary&#8221; means any
Subsidiary whose consolidated revenue shall have exceeded 5% of the consolidated revenues of WPP plc and its Subsidiaries taken as a whole
for the preceding financial year or any other Subsidiary designated by WPP plc from time to time as a Restricted Subsidiary in WPP plc&#8217;s
sole discretion; <I>provided</I>, that after the time that the Securities are guaranteed by a Parent Guarantor other than WPP plc, &#8220;Restricted
Subsidiary&#8221; shall be any Subsidiary whose consolidated revenue shall have exceeded 5% of consolidated revenues of the Parent Guarantor
and its Subsidiaries taken as a whole for the preceding financial year (or if the Parent Guarantor has existed for less than one year,
5% of the consolidated revenues of WPP plc and its Subsidiaries taken as a whole for the preceding financial year), or any other Subsidiary
designated by the Parent Guarantor from time to time as a Restricted Subsidiary in the Parent Guarantor&#8217;s sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;S&amp;P&#8221; means S&amp;P Global
Ratings, a division of S&amp;P Global Inc., or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Sale and Leaseback Transaction&#8221;
has the meaning specified in Section 10.10(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Securities&#8221; has the meaning stated
in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Securities Act&#8221; means the U.S.
Securities Act of 1933 (including any successor act thereto), as amended from time to time, and (unless the context otherwise requires)
includes the rules and regulations of the Commission promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Security Interests&#8221; means, with
respect to any Property, any mortgage, charge, pledge, lien or other security interest in respect of such Property. For purposes of this
Indenture, the Parent Guarantor and its Subsidiaries shall be deemed to own, subject to a Security Interest, any Property which it has
acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention
agreement relating to such Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Security Register&#8221; and &#8220;Registrar&#8221;
have the respective meanings specified in Section 3.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Significant Subsidiary&#8221; has the
meaning set forth in Regulation S-X under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Special Record Date&#8221; means, for
the payment of any Defaulted Interest, a date fixed by the <FONT STYLE="letter-spacing: 0.2pt">relevant </FONT>Issuer pursuant to Section
<FONT STYLE="letter-spacing: -0.2pt">3.7.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Stated Maturity&#8221;, when used with
respect to any Security or any installment of principal thereof or interest thereon, means the date specified as the fixed date on which
the principal of such Security or such installment of principal or interest is due and payable established as contemplated by Section&nbsp;3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Subsidiary&#8221; of a specified person
means that specified person holds a majority of the voting rights in it, or is a member of it and has the right to appoint or remove a
majority of its board of directors or is a member of it and controls alone, pursuant to an agreement with other shareholders or members,
a majority of the voting rights in it, or if it is a subsidiary of a company which is itself a subsidiary of that specified person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Subsidiary Guarantor&#8221; means each
of WPP Jubilee Limited, WPP 2005 Limited, and any other Subsidiaries of the Issuer or any Parent Guarantor that becomes a Subsidiary Guarantor,
each until a Successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter &#8220;Subsidiary
Guarantor&#8221; shall mean such Successor Person in lieu of such original Subsidiary Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Substitute Rating Agency&#8221;
means a &#8220;nationally recognized statistical rating organization&#8221; within the meaning of Section <FONT STYLE="letter-spacing: -0.2pt">3(a)</FONT>(62)
of the Exchange Act selected by the relevant Issuer (pursuant to a Board Resolution) as a replacement agency for Moody&#8217;s,
S&amp;P or Fitch, or one or more of them, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Succession Date&#8221; has the meaning
specified in Section 11.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Successor Person&#8221; has the meaning
specified in Section 8.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Taxes&#8221; has the meaning specified
in Section 10.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;transfer&#8221; means, with respect
to any Security, any sale, pledge, transfer, hypothecation or other disposition of such Security or any interest therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Treasury Rate&#8221; has the meaning
specified in Section 11.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Trust Indenture Act&#8221; means the
U.S. Trust Indenture Act of 1939 (including any successor act thereto), as it may be amended from time to time, and (unless the context
otherwise requires) includes the rules and regulations of the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Trustee&#8221; means the Person named
as the &#8220;Trustee&#8221; in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter &#8220;Trustee&#8221; shall mean or include each Person who is then a Trustee
hereunder, and if at any time there is more than one such Person, &#8220;Trustee&#8221; as used herein shall be deemed to mean the person
acting as Trustee with respect to the Securities of any series and shall mean the Trustee with respect to Securities of that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;United States&#8221; means the United
States of America (including the States thereof and the District of Columbia), its territories, its possessions and other areas subject
to its jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;U.S. Government Obligation&#8221; has
the meaning specified in Section <FONT STYLE="letter-spacing: -0.1pt">12.4.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.2</TD><TD><I>Compliance Certificates and Opinions.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Upon any application or request by an Issuer or a Guarantor to the Trustee and/or any Agent to take any
action under any provision of this Indenture, such Issuer or such Guarantor, as applicable, shall furnish to the Trustee and/or the relevant
Agents such certificates and opinions as may be reasonably required hereunder or under the Trust Indenture Act. Each such certificate
or opinion shall be given in the form of an Officers&#8217; Certificate, if to be given by an officer of an Issuer or a Guarantor, or
an Opinion of Counsel if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements
set forth in this Indenture.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each certificate or opinion by or on behalf of an Issuer or a Guarantor with respect to compliance with
a condition or covenant provided for in this Indenture (except for certificates provided for in Section 10.4) shall include,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a statement that each individual signing such certificate or opinion has read such covenant or condition
and the definitions herein relating thereto;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a brief statement as to the nature and scope of the examination or investigation upon which the statements
or opinions contained in such certificate or opinion are based;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">a statement that, in the opinion of each such individual, he has made such examination or investigation
as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">a statement as to whether, in the opinion of each such individual, such condition or covenant has been
complied <FONT STYLE="letter-spacing: -0.1pt">with.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.3</TD><TD><I>Form of Documents Delivered to the Trustee and the Agents.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">In any case where several matters are required to be certified by, or covered by an opinion of, any specified
Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be
so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several
documents.</TD></TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Any certificate or opinion of an officer of the relevant Issuer or of a Guarantor may be based, insofar
as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the
exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his
certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual
matters, upon a certificate or opinion of, or representations by, an officer or officers of the relevant Issuer or a Guarantor, as the
case may be, stating that the information with respect to such factual matters is in the possession of the relevant Issuer or such Guarantor,
as the case may be, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations
with respect to such matters are erroneous.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Where any Person is required to make, give or execute two or more applications, requests, consents, certificates,
statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.4</TD><TD><I>Acts of Holders; Record Dates.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted
by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required,
to the relevant Issuer and the Guarantors. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the &#8220;Act&#8221; of the Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Sections
6.1 and 6.3) conclusive in favor of the Trustee and the Agents and the relevant Issuer or the Guarantors, if made in the manner provided
in this Section 1.4.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The fact and date of the execution by any Person of any such instrument or writing may be proved by the
affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments
of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient
proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing
the same, may also be proved in any other manner which the Trustee and the Agents, as applicable, deem sufficient.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The ownership of Securities shall be proved by the Security Register and the Trustee and the Agents may
conclusively rely on such information and shall not be affected by notice to the contrary.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any
Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer
thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Agents,
the relevant Issuer or the Guarantors in reliance thereon, whether or not notation of such action is made upon such Security.</TD></TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">The relevant Issuer may set any day as
a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request,
demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or
taken by Holders of Securities of such series; provided that the relevant Issuer may not set a record date for, and the provisions of
this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the
next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on
such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after
such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date
by Holders of the requisite aggregate principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph
shall be construed to prevent the relevant Issuer from setting a new record date for any action for which a record date has previously
been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be
canceled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the
requisite aggregate principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after
any record date is set pursuant to this paragraph, the relevant Issuer, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of
the relevant series in the manner set forth in Section 1.5.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding
Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred
to in Section 5.2, (iii) any request to institute proceedings referred to in Section 5.7(b) or (d) any direction referred to in Section
5.12, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or
direction, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder
unless taken on or prior to the applicable Expiration Date by Holders of the requisite aggregate principal amount of Outstanding Securities
of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date
for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and without any action by any Person be canceled and of no effect), nor shall anything in this paragraph be construed to
render ineffective any action taken by Holders of the requisite aggregate principal amount of Outstanding Securities of the relevant series
on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the expense of the
relevant Issuer or the Guarantors, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration
Date to be given to the relevant Issuer and the Guarantors in writing and to each Holder of Securities of the relevant series in the manner
set forth in Section 1.5.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">With respect to any record date set pursuant to this Section 1.4, the party hereto that sets such record
dates may designate any day as the &#8220;Expiration Date&#8221; and from time to time may change the Expiration Date to any earlier or
later day<I>; provided</I> that no such change shall be effective unless notice of the proposed new Expiration Date is given to the other
parties hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 1.5, on or prior
to the existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section
1.4, the party hereto that set such record date shall be deemed to have initially designated the 180th day after such record date as the
Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding
the foregoing, no Expiration Date shall be later than the 180th day after the applicable record date.</TD></TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to
any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed
agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.5</TD><TD><I>Notices, Etc., to Trustee, Agents, Issuers and Guarantors.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document
provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD>the Trustee by any Holder or by the relevant Issuer or the Guarantors shall be sufficient for every purpose hereunder if in writing
and mailed first class postage paid to or otherwise made, given, furnished or filed in writing (which may be by facsimile) to or with
the Trustee at its Corporate Trust Office, Attention: WPP Notes Administrator, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD>the relevant Issuer or the Guarantors by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise
herein expressly provided) if in writing and mailed, first-class prepaid postage, to the relevant Issuer or the Guarantors addressed to
such parties at the respective addresses of their principal offices specified in Section 1.4(h)(ii) below or at any other address previously
furnished in writing to the Trustee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Any notice or communication to any party under this Indenture shall be in writing and delivered in person,
sent by first-class mail, prepaid postage, or sent by overnight courier or electronic transmission, addressed as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">If to the Issuers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">WPP 2025 LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Sea Containers House</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">18 Upper Ground</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">London</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">SE1 9GL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">WPP Finance 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Sea Containers House</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">18 Upper Ground</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">London</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">SE1 9GL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt"><B>&nbsp;</B></P>


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

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">If to the Guarantors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">WPP plc</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Sea Containers House</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">18 Upper Ground</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">London</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">SE1 9GL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">WPP Jubilee Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Sea Containers House</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">18 Upper Ground</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">London</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">SE1 9GL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">WPP 2005 Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Sea Containers House</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">18 Upper Ground</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">London</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">SE1 9GL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">If to the Trustee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Wilmington Trust, National Association</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">277 Park Avenue, 25th Floor,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">New York, New York 10172</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">United States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">If to the Registrar or Paying Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Citibank, N.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">388 Greenwich Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">New York, NY 10013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Attn: Agency and Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 70.9pt; text-indent: 35.45pt">Email: eva.waite@citi.com; citi.cspag.debt@citi.com</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.6</TD><TD><I>Notices to Holders; Waiver.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed, first-class prepaid postage at the expense of the relevant Issuer,
to each Holder affected by such event, at his address as it appears in the Security Register, (with a copy to the Registrar) not later
than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case
where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner,
such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee and Registrar, but such filing shall
not be a condition precedent to the validity of any action taken in reliance upon such waiver.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">While any Securities are represented by one or more Global Securities, all notices with respect to such
Global Securities shall be delivered to the Depositary for such Global Securities, as applicable for communication to entitled account
holders.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">For so long as any Securities are listed on any securities exchange, the relevant Issuer shall publish
such notices as may be required by the rules and regulations of such securities exchange.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">In case by reason of the suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee or the Registrar shall
constitute a sufficient notification for every purpose hereunder.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.7</TD><TD><I>Conflicts with Trust Indenture Act.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">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 once this
Indenture is qualified under the Trust Indenture Act, 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.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.8</TD><TD><I>Effects of Headings and Table of Contents.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Article and Section headings herein and
the Table of Contents are for convenience only and shall not affect the construction hereof.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.9</TD><TD><I>Successors and Assigns.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All covenants and agreements in this Indenture
by the Issuers or the Guarantors shall bind their successors and assigns, whether so expressed or not. All agreements of the Trustee and
the Agents, as applicable, in this Indenture shall bind their successors and assigns, whether so expressed or not.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.10</TD><TD><I>Separability Clause.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In case any one or more of the provisions contained
in this Indenture, the Securities or the Guarantees shall be invalid, illegal or unenforceable in any respect, such invalidity, illegality
or unenforceability shall not affect any other provisions contained in this Indenture, and to the extent and only to the extent that any
such provision is invalid, illegal or unenforceable, this Indenture, the Securities and the Guarantees shall be construed as if such provision
had never been contained herein or therein.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.11</TD><TD><I>Counterparts.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Indenture may be simultaneously executed
and delivered in any number of counterparts, each of which so executed and delivered shall be deemed to be an original, and such counterparts
shall together constitute but one and the same instrument. To the greatest extent permitted by applicable law, the exchange of copies
of this Indenture and of signature pages by electronic transmission (including in .pdf or other generally accepted electronic format)
or by use of electronic signatures (including DocuSign or other electronic signature technology) shall constitute effective execution
and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures
of the parties hereto transmitted electronically shall be deemed to be their original signatures for all purposes.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.12</TD><TD><I>Electronic Signatures.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All notices, approvals, consents, requests
and any communications hereunder must be in writing (provided that any communication sent to the Trustee or Agents hereunder must be in
the form of a document that is signed manually or by way of a digital signature provided by DocuSign, AdobeSign (or such other digital
signature provider as specified in writing to the Trustee or the Agents, as applicable, by the Issuers or Guarantors), in English. The
Issuers and the Guarantors agree to assume all risks arising out of the use of digital signatures and electronic methods to submit communications
to the Trustee or the Agents, as applicable, including without limitation the risk of the Trustee or the Agents acting on unauthorized
instructions, and the risk of interception and misuse by third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Unless otherwise provided in this Indenture
or in any Security, the words &#8220;execute&#8221;, &#8220;execution&#8221;, &#8220;signed&#8221;, and &#8220;signature&#8221; and words
of similar import used in or related to any document to be signed in connection with this Indenture, any Security or any of the transactions
contemplated hereby (including amendments, waivers, consents and other modifications) will be deemed to include electronic signatures
and the keeping of records in electronic form, each of which will be, except with respect to authentication of the Securities by the Trustee
and/or the Authenticating Agent, of the same legal effect, validity or enforceability as a manually executed signature in ink or the use
of a paper-based recordkeeping system, as applicable, to the fullest extent and as provided for in any applicable law, including the Federal
Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other similar
state laws based on the Uniform Electronic Transactions Act, provided that, notwithstanding anything herein to the contrary, the Trustee
and the Agents, as applicable, are not under any obligation to agree to accept electronic signatures in any form or in any format unless
expressly agreed to by the Trustee or the Agents, as applicable, pursuant to reasonable procedures approved by the Trustee or the Agents,
as applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.13</TD><TD><I>Benefits of Indenture.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Nothing in this Indenture or in the Securities,
express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders of Securities,
any benefit or any legal or equitable right, remedy or claim under this Indenture.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.14</TD><TD><I>Governing Law.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Indenture, the Guarantees, and any Securities
issued hereunder shall be governed by, and construed in accordance with, the laws of the State of New York, United States.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.15</TD><TD><I>Submission to Jurisdiction; Appointment of Agent for Service of Process; Waiver of Jury Trial.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Issuers, the Guarantors, the Trustee and the Agents agree that any legal suit, action or proceeding
arising out of or relating to this Indenture, and each of the Issuers and the Guarantors agrees that any legal suit, action or proceeding
arising out of or relating to the Securities and the Guarantees, may be instituted in any U.S. federal or New York state court in the
Borough of Manhattan, The City of New York, and each waives any objection which it may now or hereafter have to the laying of the venue
of any such legal suit, action or proceeding, waives any immunity from jurisdiction or to service of process in respect of any such suit,
action or proceeding, waives any right to which it may be entitled on account of place of residence or domicile and irrevocably submits
to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Each Issuer and each Guarantor hereby
appoints Corporate Creations Network Inc., 600 Mamaroneck Avenue #400, Harrison, New York 10528, United States, as its authorized agent
(the &#8220;Authorized Agent&#8221;) upon which process may be served in any legal action or proceeding against it with respect to its
obligations under this Indenture, the Securities of any series or the Guarantees, as the case may be, instituted in any federal or state
court in the Borough of Manhattan, The City of New York by the Trustee, the Agents, or by the Holder of any Security. Each Issuer and
each Guarantor reserves the right to appoint another person located or with an office in the Borough of Manhattan, The City of New York,
selected in their discretion, as a successor Authorized Agent, and upon acceptance of such appointment by such a successor and notice
to the Trustee, the Agents, and the Holders of the successor Authorized Agent, the appointment of the prior Authorized Agent shall terminate.
If for any reason the designee, appointee and agent hereunder ceases to be able to act as the Authorized Agent or to have an address in
the Borough of Manhattan, The City of New York, the Issuers and the Guarantors shall appoint a successor Authorized Agent in accordance
with the preceding sentence. Each Issuer and each Guarantor further agrees to take any and all action, including the filing of any and
all documents and instruments, as may be necessary to continue such designation and appointment of such agent in full force and effect
until this Indenture has been satisfied and discharged in accordance with Article Four or Article Twelve hereof.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Service of process upon the Authorized Agent addressed to it at the address set forth above, as such address
may be changed within the Borough of Manhattan, The City of New York by notice given by the Authorized Agent to the Trustee or the Agents,
as applicable, together with written notice of such service mailed or delivered to the relevant Issuer or the Guarantors shall be deemed,
in every respect, effective service of process on the relevant Issuer or the Guarantors, as the case may be. Each of the Issuers, the
Guarantors, the Trustee and the Agents hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right
to trial by jury in any legal proceeding arising out of or relating to this Indenture, the Securities, the Guarantees and the transactions
contemplated hereby.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.16</TD><TD><I>Legal Holidays.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In any case where any Interest Payment Date,
Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities (other than a provision of any Security established as contemplated by Section 3.1 which
specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any) need
not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the
same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, as the case may be; <I>provided
</I>that no interest with respect to such payment shall accrue for the period from and after such Interest Payment Date, Redemption Date
or Stated Maturity, as the case may be.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.17</TD><TD><I>Force Majeure.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In no event shall the Trustee or the Agents
be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly
or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages or other labor disputes, accidents; acts
of war, armed conflict or terrorism; civil or military disturbances or governmental actions, riots or sabotage; nuclear, natural or other
catastrophes, including earthquakes, fires, floods or other acts of God; interruptions, loss or malfunctions of utilities or power, computer
(hardware or software), communications or other utility services, and hacking, cyber-attacks, or other use or infiltration of the Trustee&#8217;s
or the Agents&#8217; technological infrastructure exceeding authorized access; acts of civil or military authority, governmental actions,
orders or regulations; epidemics, pandemics or other recognized public emergencies, including quarantine or travel restrictions; or the
unavailability or malfunction of the Federal Reserve Bank wire, telex or any other wire or communication facility, it being understood
that the Trustee and the Agents, as applicable, shall use commercially reasonable efforts which are consistent with accepted practices
in the banking industry to resume performance as soon as practicable under the circumstances.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.18</TD><TD><I>Waiver of Jersey Customary Law <FONT STYLE="letter-spacing: -0.1pt">Rights.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Issuer and each Guarantor irrevocably
and unconditionally waives such right as it may have or claim under <FONT STYLE="letter-spacing: -0.1pt">Jersey</FONT> <FONT STYLE="letter-spacing: -0.2pt">law:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">whether by virtue of the <I>droit de discussion</I> or otherwise to require that recourse be had to the
assets of any other <FONT STYLE="letter-spacing: -0.1pt">person </FONT>before any claim is enforced against it under this Indenture or
any Guarantee in respect of the obligations assumed by it under this Indenture or any Guarantee; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">whether by virtue of the <I>droit de division </I>or otherwise to require that any liability under this
Indenture or any Guarantee be divided or apportioned with any other person or reduced in any manner whatsoever.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.19</TD><TD><I>U.S.A. Patriot <FONT STYLE="letter-spacing: -0.2pt">Act.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The parties hereto acknowledge that in accordance
with Section 326 of the U.S.A. Patriot Act, the Trustee and the Agents, like all financial institutions and in order to help fight the
funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each person or legal
entity that establishes a relationship or opens an account with the Trustee or the Agents, as applicable. The parties to this Indenture
agree that they will provide the Trustee and the Agents, as applicable, with such information as they may reasonably request in order
for the Trustee or the Agents, as applicable, to satisfy the requirements of the U.S.A. Patriot Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>ARTICLE
Two<BR>
<BR>
</B></FONT><B><FONT STYLE="text-transform: uppercase">S<FONT STYLE="font-family: Times New Roman, Times, Serif">ecurity Forms</FONT></FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD><I>Forms Generally.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Securities of each series and the Trustee&#8217;s
and/or Authenticating Agent&#8217;s, as relevant, certificates of authentication shall be in substantially the forms set forth in this
Article Two or in such other form as shall be established by or pursuant to Board Resolutions or in one or more supplemental indentures
hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this
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 of any securities exchange or Depositary therefor or as may, consistently herewith, be determined
by the officers executing such Securities, as evidenced by their execution of the Securities. If the form of Securities of any series
is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the
Secretary or an Assistant Secretary of the relevant Issuer and each Guarantor and delivered to the Trustee and the Agents at or prior
to the delivery of the Issuer Order contemplated by Section 3.3 for the authentication and delivery of such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Guarantees of the Guarantors expressed
in Article Thirteen shall establish such Guarantees with respect to the Securities of each series without any further notation or endorsement
of or attachment to the form of any Security. Likewise, the Guarantees of any other Guarantor created by the acceptance of the terms of
Article Thirteen expressed in an applicable Board Resolution of such Guarantor in accordance with Section 3.1 or indenture supplemental
hereto shall establish its Guarantee with respect to the Securities of the relevant series without any further notation or endorsement
of or attachment to the form of any Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The definitive Securities shall be printed,
lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing
such Securities, as evidenced by their execution of such Securities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.2</TD><TD><I>Form of Face of Security.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following legend shall appear on the face
of each Global <FONT STYLE="letter-spacing: -0.1pt">Security:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE
DEPOSITARY, WHICH MAY BE TREATED BY THE ISSUER, ANY GUARANTOR, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY
FOR ALL PURPOSES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following legend shall appear on the face
of each Global Security for which The Depository Trust Company is to be the <FONT STYLE="letter-spacing: -0.1pt">Depositary:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (&#8220;DTC&#8221;), TO THE ISSUER OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE OR ANY PORTION HEREOF IS REGISTERED IN THE
NAME OF CEDE &amp; CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &amp;
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &amp; CO.,
HAS AN INTEREST HEREIN.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR
IN PART FOR REGISTERED SECURITIES IN DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED TO IN THE INDENTURE, THIS GLOBAL
SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO
THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF
SUCH SUCCESSOR <FONT STYLE="letter-spacing: -0.1pt">DEPOSITARY.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[Insert any legend required by the Internal
Revenue Code and the regulations <FONT STYLE="letter-spacing: -0.1pt">thereunder]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">[<B>WPP FINANCE 2010</B> / <B>WPP 2025 LLC<FONT STYLE="letter-spacing: -0.2pt">]</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">__________________________</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">CUSIP <FONT STYLE="letter-spacing: -0.25pt">No.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">ISIN No. </TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right">U.S.$</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">[WPP 2025 LLC / WPP Finance
2010] (herein called the &#8220;Issuer&#8221;, which term includes any Successor Person under the Indenture hereinafter referred to),
[a private unlimited liability company incorporated under the laws of England and Wales / a limited liability company incorporated under
the laws of Delaware], for value received, hereby promises to pay to&#9;, or registered assigns, [<I>include if this Security is a Global
Security </I>&#8212; the initial principal amount specified on Schedule A hereto (such initial principal amount, as it may from time to
time be adjusted by endorsement on Schedule A hereto, is hereinafter referred to as the &#8220;principal&#8221;)] [<I>include if this
Security is not a Global Security</I> &#8212; the principal sum of Dollars] on&#9;or any other Maturity Date. [<I>if the Security is to
bear interest prior to Maturity, insert </I>&#8212; This Security shall bear interest at the rate of [ ]% per annum, from [ ], [ ] or
from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, until the principal
hereof is paid or made available for payment. Interest shall be payable semi-annually on [ ] and [ ] (each an &#8220;Interest Payment
Date&#8221;), beginning on [ ], [ ], to the Holders in whose names this Security is registered at the close of business on the Regular
Record Date immediately preceding the related Interest Payment Date. Interest shall be calculated on the basis of a 360-day year consisting
of twelve 30-day months. If any Interest Payment Date falls on a day that is not a Business Day, interest will be paid the following day
that is a Business Day with the full force and effect as if paid on the Interest Payment Date.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>if applicable, insert &#8212; ;</I> Any
principal [and premium], and any such installment of interest, which is overdue shall bear interest at the rate of &#9;% per annum (to
the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or
made available for payment, and such interest shall be payable on demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any interest payable, but not so punctually
paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the Holder on such Regular Record Date and
may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Issuer, notice whereof shall be given by (i) the
Issuer to the Trustee and the Paying Agent, and (ii) by the Paying Agent to Holders of Securities of this series not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>If the Security is not to bear interest
prior to Maturity, insert</I> &#8212; The principal of this Security shall not bear interest except in the case of a default in payment
of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal [and any overdue premium]
shall bear interest at the rate of&#9;% per annum (to the extent that the payment of such interest shall be legally enforceable), from
the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal [or premium] shall
be payable on demand. Any such interest on overdue principal or premium which is not paid on demand shall bear interest at the rate of&#9;%
per annum (to the extent that the payment of such interest on interest shall be legally enforceable), from the date of such demand until
the amount so demanded is paid or made available for payment. Interest on any overdue interest shall be payable on demand.]</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Payment of the principal of, [premium, if any,]
and [<I>if applicable, insert</I> &#8212; interest] on this Security shall be made pursuant to the Applicable Procedures of the Depositary
as permitted in the Indenture<I>; provided</I>, <I>however</I>, that if this Security is not a Global Security, payment may be made at
the office or agency of the Issuer maintained for that purpose in New York, New York, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts, against surrender of this Security in the case
of any payment due at the Maturity of the principal thereof (other than any payment of interest that first becomes payable on a day other
than an Interest Payment Date); and <I>provided, further,</I> that at the option of the Issuer, payment of interest may be made by check
mailed to the address of the Person entitled thereto as such address shall appear in the Security Register [<I>if applicable, insert &#8212;
; and provided, further</I>, that at the option of the Issuer payments of any interest on the Securities (other than at Maturity) may
be made, in the case of a registered Holder of at least U.S.$5,000,000 principal amount of Securities, by electronic funds transfer of
immediately available funds to a United States dollar account maintained by the payee<I>; provided</I> such registered Holder so elects
by giving written notice to the Trustee and the Paying Agent designating such account, no later than 15 days immediately preceding the
relevant date for payment (or such other date as the Trustee and the Paying Agent may each accept in their discretion). Unless such designation
is revoked, any such designation made by such Holder with respect to such Securities shall remain in effect with respect to any future
payments with respect to such Securities payable to such Holder. The Issuer shall pay any administrative costs imposed by banks in connection
with making payments by wire transfer.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Reference is hereby made to the further provisions
of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Unless the certificate of authentication hereon
has been executed by the Trustee and/or Authenticating Agent, as relevant, referred to on the reverse hereof, including in the case of
the Authenticating Agent, by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory
for any purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">IN WITNESS WHEREOF, the Issuer has caused this
instrument to be duly executed by a Director or Authorized <FONT STYLE="letter-spacing: -0.1pt">Officer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Executed as a Deed by <FONT STYLE="letter-spacing: 0.45pt">[<B>WPP
FINANCE 2010</B> / </FONT><B>WPP 2025 LLC<FONT STYLE="letter-spacing: -0.2pt">]</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><FONT STYLE="letter-spacing: -0.2pt"><B>____________________________________________</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.3</TD><TD><I>Form of Reverse of Security.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Security is one of a duly authorized issue
of securities of the Issuer (herein called the &#8220;Securities&#8221;), issued and to be issued in one or more series under an Indenture,
dated as of  [&nbsp;&nbsp;], 20[&nbsp;&nbsp;] (herein called the &#8220;Base Indenture&#8221;), as supplemented
by a [ ] Supplemental Indenture dated as of [ ] (herein called the &#8220;[ ] Supplemental Indenture&#8221;; the Base Indenture, as supplemented
by the [ ] Supplemental Indenture, the &#8220;Indenture&#8221;), each among the Issuer, WPP PLC, a public company limited by shares incorporated
under the laws of Jersey (the &#8220;Parent Guarantor&#8221;), WPP JUBILEE LIMITED, a private limited company organized and existing under
the laws of England and Wales and WPP 2005 LIMITED, a private limited company organized and existing under the laws of England and Wales
(collectively, the &#8220;Subsidiary Guarantors&#8221; and, together with the Parent Guarantor, the &#8220;Guarantors&#8221; which term
includes any successor Guarantor under the Indenture), Wilmington Trust, National Association, as Trustee (herein called the &#8220;Trustee&#8221;,
which term includes any successor trustee under the Indenture), Citibank, N.A., as the initial Registrar and Paying Agent, and reference
is hereby made to the Indenture[, as supplemented by the [ ] Supplemental Indenture,] for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Issuer, the Parent Guarantor, the Subsidiary Guarantors, the Trustee and Agents 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 one of the series designated on the face hereof <B>[</B><I>if applicable, insert &#8212; , </I>limited in initial aggregate principal
amount to U.S.$ [ ]<FONT STYLE="letter-spacing: -0.3pt"><B>]</B>.</FONT></P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Capitalized terms used herein but not defined
shall have the respective meanings assigned to them in the <FONT STYLE="letter-spacing: -0.1pt">Indenture.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Subsidiary Guarantors and the Parent Guarantor
have fully and unconditionally guaranteed, on a joint and several basis, the full and punctual payment of the principal, premium, if any,
interest, Additional Amounts and any other amounts payable in respect of the Securities, when and as the same shall become due and payable
by the Issuer in respect of the Securities, whether at the stated maturity thereof, by declaration of acceleration, call for redemption,
call for repurchase or otherwise, in accordance with the terms of the Securities and of the Indenture. To the extent set forth in the
applicable Board Resolutions or a supplemental indenture, the full and punctual payment of the principal, premium, if any, interest, Additional
Amounts and any other amounts payable in respect of the Securities, when and as the same shall become due and payable by the Issuer in
respect of the Securities, whether at the stated maturity thereof, by declaration of acceleration, call for redemption, call for repurchase
or otherwise, in accordance with the terms of the Securities and of the Indenture may also be guaranteed by any other Guarantor that may
guarantee the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>If applicable, insert</I> &#8211; Prior
to [ ] ([ ] month[s] prior to their Maturity date) (the &#8220;Par Call Date&#8221;), the Issuer may redeem the Securities in whole or
in part, at its option, at any time and from time to time at a redemption price (expressed as a percentage of principal amount and rounded
to three decimal places) equal to the greater of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
the sum of the present values determined by the Issuer of the remaining scheduled payments of principal and interest thereon (assuming
the Securities matured on the Par Call Date) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus [ ] basis points, less (ii) interest accrued to the date of redemption, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100%
of the principal amount of the Securities to be redeemed,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">plus, in either case, accrued and unpaid interest
thereon to the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On or after the Par Call
Date, the Issuer may redeem the Securities at its option, in whole or in part, at any one time and from time to time, at a redemption
price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest thereon to the redemption
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In connection with such optional redemption
the following defined terms apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Treasury Rate&#8221; means, with respect
to any redemption date, the yield determined by the Issuer in accordance with the following two paragraphs.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Treasury Rate shall be determined by the
Issuer after 4:15 p.m. New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of
Governors of the Federal Reserve System), on the third Business Day preceding the redemption date based upon the yield or yields for the
most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of
the Federal Reserve System designated as &#8220;Selected Interest Rates (Daily) &#8211; H.15&#8221; (or any successor designation or publication)
(&#8220;H.15&#8221;) under the caption &#8220;U.S. government securities&#8212;Treasury Constant Maturities&#8212;Nominal&#8221; (or any
successor caption or heading) (&#8220;H.15 TCM&#8221;). In determining the Treasury Rate, the Issuer shall select, as applicable: (1)
the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the &#8220;Remaining
Life&#8221;); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields &#8211;
one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury
constant maturity on H.15 immediately longer than the Remaining Life &#8211; and shall interpolate to the Par Call Date on a straight-line
basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such
Treasury constant maturity on H.15 shorter or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15
closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be
deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from
the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If on the third Business Day preceding the
redemption date H.15 TCM is no longer published, the Issuer shall calculate the Treasury Rate based on the rate per annum equal to the
semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such redemption date
of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there
is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a
maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date
following the Par Call Date, the Issuer shall select the United States Treasury security with a maturity date preceding the Par Call Date.
If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities
meeting the criteria of the preceding sentence, the Issuer shall select from among these two or more United States Treasury securities
the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United
States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph,
the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked
prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and
rounded to three decimal places.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Issuer&#8217;s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. Neither the Trustee nor the
Paying Agent shall be responsible for calculating the redemption price or for verifying any calculations of such redemption price. Notice
of any redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the depositary&#8217;s procedures)
at least 10 days but not more than 60 days before the redemption date to each Holder of the Securities to be redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the Issuer decides to redeem fewer than
all of the outstanding Securities (a partial redemption) and the Securities to be redeemed are Global Securities then held by DTC (or
another depositary), the Securities to be redeemed shall be selected in accordance with the procedures of DTC (or such other depositary)
or by lot. No Securities of a principal amount of less than $1,000 will be redeemed in part. If any Security is to be redeemed in part
only, the notice of redemption that relates to the Security will state the portion of the principal amount of the Security to be redeemed.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Unless the Issuer defaults in payment of the
redemption price, on and after the redemption date interest will cease to accrue on the Securities or portions thereof called for redemption.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>If applicable, insert &#8211;</I> In addition
to its ability to redeem this Security pursuant to the foregoing, this] [This] Security may be redeemed by the Issuer on the terms set
forth and as more fully described in the Indenture, in certain circumstances where the Issuer or a Guarantor would be required to pay
Additional Amounts in respect hereof as a result of certain events relating to taxation and such obligation cannot be avoided by the Issuer
or such Guarantor by taking reasonable measures available to the Issuer or the Guarantor, as provided in the Indenture.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>If the Security is subject to redemption
of any kind, insert &#8212;</I> In the event of redemption of this Security in part only, a new Security or Securities of this series
and of like tenor for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>If applicable, insert</I> &#8211; [As provided
in the [ ] Supplemental Indenture,] the Issuer shall have the right to redeem the Securities upon the occurrence of certain events relating
to taxation, as a result of which the Issuer or a Guarantor becomes obligated to pay Additional Amounts on the Securities, in which case
the Issuer may redeem the Securities in whole but not in part at a redemption price equal to 100% of the principal amount of the Securities
plus accrued and unpaid interest (including additional interest and Additional Amounts, if any) to, but excluding, the Redemption Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On and after the Redemption Date, interest
will cease to accrue on the Securities or any portion of the Securities called for redemption (unless the Issuer defaults in the payment
of the redemption price and accrued and unpaid interest). On or before the Redemption Date, the Issuer shall deposit with the Paying Agent
money sufficient to pay the redemption price of and (unless the Redemption Date shall be an Interest Payment Date) accrued and unpaid
interest to, but excluding, the Redemption Date on the Securities to be redeemed on such date. If less than all of the Securities are
to be redeemed, the Securities to be redeemed shall be selected by the Registrar or Paying Agent, as applicable, in accordance with the
procedures of DTC (or such other depositary) or by lot.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon the occurrence of a Change of Control
Repurchase Event (as defined below), unless the Issuer has exercised its right to redeem the Securities [pursuant to the [ ] Supplemental
Indenture], each holder shall have the option to require the Issuer to repurchase all or any portion of its Securities (in principal amounts
of U.S.$1,000 and integral multiples of U.S.$1,000 in excess thereof) on the Repurchase Date (as defined below) at a price equal to 101%
of the principal amount thereof, together with accrued and unpaid interest thereon to, but excluding, the date of repurchase (subject
to the right of holders of the Securities on the relevant record date to receive interest due on the relevant Interest Payment Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Within 30 days following the date upon the
Issuer becoming aware that a Change of Control Repurchase Event has occurred or, at the Issuer&#8217;s option, prior to any Change of
Control Repurchase Event, but after the public announcement of an impending Change of Control Repurchase Event, the Issuer shall deliver
or cause to be delivered a notice of such Change of Control Repurchase Event electronically in accordance with the applicable DTC procedures,
with a copy to the Trustee and the Agents, and the Issuer shall, and at any time upon the Registrar having actual knowledge, the Registrar
may, and if so requested by the holders of at least 25% of the aggregate principal amount of the Securities then outstanding, shall (subject
in each case to the Registrar being indemnified and/or secured to its satisfaction), give notice (a &#8220;Change of Control Repurchase
Event Notice&#8221;) to the holders specifying the nature of the Change of Control Repurchase Event and the procedure for exercising the
holders&#8217; repurchase option.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To exercise the option to require the repurchase
of a Security following the occurrence of a Change of Control Repurchase Event the holder of the Security must deliver such Security,
on any Business Day during the period beginning no earlier than 10 days from the date on which the Change of Control Repurchase Event
Notice is given and ending 60 days from the date such notice is given (the &#8220;Repurchase Period&#8221;), at the specified office of
the Paying Agent, accompanied by a duly signed and completed notice of exercise in the form (for the time being current) which shall be
provided with the Change of Control Repurchase Event Notice (a &#8220;Change of Control Repurchase Notice&#8221;). A Change of Control
Repurchase Notice, once given, shall be irrevocable unless the Issuer elects to permit revocations. All Securities submitted for repurchase
shall be purchased by the Issuer on the date that is 3 Business Days after the expiration of the Repurchase Period (the &#8220;Repurchase
Date&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On the Repurchase Date, the Issuer will:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">accept for payment all Securities or portions of Securities (in principal amounts of U.S.$1,000 and integral
multiples of U.S.$1,000 in excess thereof) properly tendered pursuant to the repurchase option;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">deposit with the Paying Agent an amount equal to the aggregate repurchase price in respect of all Securities
or portions of Securities properly tendered;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">deliver or cause to be delivered to the Paying Agent (with a copy to the Trustee) the Securities properly
accepted, together with an Officers&#8217; Certificate (upon which the Trustee and Paying Agent may conclusively rely) stating the aggregate
principal amount of Securities being purchased; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">instruct the Registrar in writing (with a copy to the Trustee) to cancel all Securities or portions of
the Securities so repurchased and delivered, and the Registrar shall promptly cancel such Securities in accordance with its customary
procedures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Paying Agent will promptly mail to each
holder of Securities properly tendered the repurchase price for the Securities, and the Authenticating Agent will promptly authenticate
and mail (or cause to be transferred by book- entry) to each holder a new Security equal in principal amount to any unpurchased portion
of any Securities surrendered; provided, that each new Security will be in a principal amount of U.S.$1,000 and integral multiples of
U.S.$1,000 in excess thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Issuer will comply
with the requirements of Rule l 4e-l 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 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 Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached
its obligations under the Change of Control Repurchase Event provisions of the Securities by virtue of such conflict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Issuer will not be required to make an
offer to repurchase the Securities upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the
times and otherwise in compliance with the requirements for an offer made by the Issuer, and such third party purchases all Securities
properly tendered and not withdrawn under its offer.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee and Paying Agent are each under
no obligation to ascertain whether a Change of Control Repurchase Event or Change of Control or any event which could lead to the occurrence
of or could constitute a Change of Control Repurchase Event or Change of Control has occurred and, until the Trustee or the Paying Agent,
as applicable, shall have actual knowledge or written notice pursuant to the Indenture to the contrary, the Trustee or the Paying Agent,
as applicable, may assume that no Change of Control Repurchase Event or Change of Control (as defined below) or other such event has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A &#8220;Change of Control&#8221; means the
occurrence of any of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">(i) the consummation of any transaction, including any merger or consolidation, as a result of which any
&#8220;person&#8221; or &#8220;group&#8221; (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than a holding
company whose shareholders are or are to be substantially similar to WPP plc&#8217;s shareholders immediately prior to such company becoming
WPP plc&#8217;s parent company, is or becomes the &#8220;beneficial owner&#8221; (as such term is used in Rule 13d-3 under the Exchange
Act), directly or indirectly, as a result of a purchase, merger or otherwise, of (x) more than 50 percent of the issued ordinary share
capital of WPP plc, or, in lieu thereof after the creation of a New Parent (as defined below), more than 50 percent of the issued ordinary
share capital of the New Parent or (y) shares in the capital of WPP plc carrying more than 50 percent of the voting rights (&#8220;Voting
Stock&#8221;) normally exercisable at a general meeting of WPP plc, or, in lieu thereof after the creation of a New Parent, more than
50 percent of the Voting Stock of the New Parent normally exercisable at a general meeting of the New Parent; or (ii) any Guarantor ceases
to be a direct or indirect Subsidiary of WPP plc or any Parent Guarantor;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger
or consolidation), in one or a series of related transactions, of all or substantially all of the assets of WPP plc and its Subsidiaries
taken as a whole to any &#8220;person&#8221; (as that term is used in Section 13(d)(3) of the Exchange Act) other than to WPP plc or one
of its Subsidiaries or, in lieu thereof after the creation of a New Parent, the direct or indirect sale, lease, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially
all of the assets of the New Parent and its Subsidiaries taken as a whole to any &#8220;person&#8221; (as that term is used in Section
13(d)(3) of the Exchange Act) other than to the New Parent or one of its Subsidiaries; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the adoption of a plan relating to the liquidation or dissolution of WPP plc or, in lieu thereof after
the creation of a New Parent, the adoption of a plan relating to the liquidation or dissolution of the New Parent</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(each of the events set forth in clauses
(a), (b) and (c), a &#8220;Change of Control&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A &#8220;below investment grade rating event&#8221;
means at the time of the occurrence of a Change of Control, (i) the Securities carry an Investment Grade credit rating from at least three Rating Agencies and such ratings from at least two Rating Agencies are, within a period ending 120 days after announcement
of the Change of Control having occurred (or such longer period as the Securities are under consideration, announced publicly within such
120-day period, for rating review), each downgraded to a non-investment grade credit rating (Ba1/BB+, or equivalent, or worse), or (ii) the Securities carry an Investment Grade credit rating
from one or two Rating Agencies and any such rating is, within a period ending 120 days after announcement of the Change of Control
having occurred (or such longer period as the Securities are under consideration, announced publicly within such 120 day period, for rating
review), downgraded to a non-investment grade credit rating (Bal/BB+, or equivalent, or worse), or (iii) if the Securities
are rated by three Rating Agencies, the ratings of the Securities from at least two Rating Agencies are withdrawn or,
if the Securities are rated by either one or two Rating Agencies at such time, any rating is withdrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Change of Control Repurchase Event&#8221;
means the occurrence of both a Change of Control and a below investment grade rating event with respect to the Securities.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Investment Grade&#8221; means a rating
of Baa3/BBB-, or equivalent, or better from any Rating Agency (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Notwithstanding the foregoing,
if at the time of the occurrence of the Change of Control the Securities carry either a non-investment grade credit rating from each Rating
Agency then assigning a credit rating to the Securities or no credit rating from any Rating Agency, a Change of Control Repurchase Event
will be deemed to occur upon the occurrence of a Change of Control alone.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For the purposes of the foregoing provisions,
&#8220;New Parent&#8221; means any Parent Guarantor whose equity ownership is substantially the same as WPP plc or any prior Parent Guarantor
immediately prior to such New Parent becoming a Parent Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For the purposes of the foregoing
provisions, &ldquo;Rating Agencies&rdquo; means Moody&rsquo;s, S&amp;P and Fitch, and, if any of Moody&rsquo;s, S&amp;P or Fitch ceases to
rate the Securities or fails to make a rating of the Securities publicly available for reasons outside of the control of the Issuer,
a &ldquo;nationally recognized statistical rating organization&rdquo; within the meaning of Section 3(a)(62) of the Exchange Act
selected by the Issuer (pursuant to a Board Resolution) as a replacement agency for Moody&rsquo;s, S&amp;P or Fitch or one or more
of them, as the case may be, and &ldquo;Rating Agency&rdquo; means any of one of them; (ii) &ldquo;Moody&rsquo;s&rdquo; means Moody&rsquo;s Investors Services, Inc., or any successor
thereto; (iii) &ldquo;S&amp;P&rdquo; means S&amp;P Global Ratings, a division of S&amp;P Global Inc., or any successor thereto; and
(iv) &ldquo;Fitch&rdquo; means Fitch Ratings Ltd, or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an Event of Default with respect to Securities
shall occur and be continuing, the aggregate principal amount of the Securities may be declared due and payable in the manner and with
the effect provided in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Indenture contains provisions for defeasance
at any time of the entire indebtedness of the series of which this Security is a part or certain restrictive covenants and Events of Default
with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In any case where the due date for the payment
of the principal amount of, or any premium or interest with respect to, any Security or the date fixed for redemption of any Security
shall not be a Business Day at a Place of Payment, then payment of the principal amount, premium, if any, or interest, need not be made
on such date at such Place of Payment, but may be made on the next succeeding Business Day at such Place of Payment with the same force
and effect as if made on the date for such payment or the date fixed for redemption, and no interest shall accrue for the period after
such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All payments in respect of the Securities and
the Guarantees shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, levies, assessments
or governmental charges of whatever nature (&#8220;Taxes&#8221;) imposed or levied by or on behalf of (a) the United States and any other
jurisdiction (or any political subdivision or taxing authority thereof or therein) in which the Issuer or any of the Guarantors is incorporated
or organized or resident (or deemed for tax purposes to be resident) (including, for the avoidance of doubt, any jurisdiction in which
a successor to the relevant Issuer or any Guarantor is incorporated, organized or resident (or deemed for tax purposes to be resident),
or (b) the jurisdiction (or any political subdivision or taxing authority thereof or therein) from or through which a payment on the Securities
or the Guarantees is made by or on behalf of the relevant Issuer or a Guarantor (each, an &#8220;Applicable Taxing Jurisdiction&#8221;),
unless such Taxes are required by the Applicable Taxing Jurisdiction to be withheld or deducted. In that event, the Issuer or the Guarantors
will pay by way of additional interest on the Securities such additional amounts of, or in respect of, principal, premium, if any, and
interest (&#8220;Additional Amounts&#8221;) as will result (after deduction of such taxes and any additional taxes payable in respect
of such Additional Amounts) in the payment to each Holder of the Securities of the amounts that would have been payable in respect of
such Security or Guarantee had no such withholding or deduction been required, except that no Additional Amounts shall be so payable for
or on account of:</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any Taxes that would not have been imposed but for the fact that such Holder:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">is or was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment
or was physically present in, the Applicable Taxing Jurisdiction or otherwise had some connection with the Applicable Taxing Jurisdiction
other than the mere ownership of, or receipt of payment under, such Security or Guarantee;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">presented (if presentation is required) such Security or Guarantee, as the case may be, more than thirty
(30)&nbsp;days after the date on which the payment in respect of such Security first became due and payable or provided for, whichever
is later, except to the extent that the Holder would have been entitled to such Additional Amounts if it had presented such Security or
Guarantee for payment on any day within such period of thirty (30) days; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">is or was a personal holding company, a passive foreign investment company or a controlled foreign corporation
for U.S. federal income tax purposes or a corporation that has accumulated earnings to avoid U.S. federal income tax;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any estate, inheritance, gift, sale, transfer, personal property or similar taxes;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any Taxes that are payable otherwise than by withholding or deduction from payments of, or in respect
of, principal, premium, if any, or interest on such Securities or Guarantee, as the case may be;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">any Taxes that are imposed or withheld by reason of (i) the holder or beneficial owner not delivering
a valid, properly completed, U.S. Internal Revenue Service Form W-8 or W-9 or any successor or substitute form to any withholding agent
or any other person, or (ii) the failure to comply by the Holder or the beneficial owner of the Security with a request from the relevant
Issuer or any Guarantor addressed to the Holder and received by such Holder at least thirty (30) days prior to the first payment date
with respect to which such information is required (a) to provide any other information concerning the nationality, residence or identity
of the Holder or such beneficial owner or (b) to make any other declaration or other similar claim or satisfy any other information or
reporting requirement, which, in the case of (ii)(a) or (ii)(b), is required or imposed by a statute, treaty, regulation or administrative
practice of the Applicable Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental
charge;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">any taxes payable pursuant to an agreement described in Section 1471(b) of the Code or otherwise imposed
pursuant to Sections 1471 through 1474 of the Code, any regulations or agreements thereunder, official interpretations thereof, or any
law implementing an intergovernmental approach thereto;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">any U.S. federal withholding Taxes imposed as a result of the Holder or beneficial owner of the Security:
(i) being a controlled foreign corporation for U.S. federal income tax purposes related to the relevant Issuer or Guarantor; (ii) being
or having been a &#8220;10-percent shareholder&#8221; of the Guarantor or the relevant Issuer as defined in Section 871(h)(3) of the Code;
or (iii) being or being treated as a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into
in the ordinary course of its trade or business; or</TD></TR></TABLE>


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

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">any combination of items (a), (b), (c), (d), (e) and (f);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">nor shall Additional Amounts be paid with respect
to any payment of the principal of, premium, if any, or interest on any such Security or Guarantee to any Holder who is a fiduciary or
partnership or other than the sole beneficial owner of such payment to the extent such payment would be required by the laws of the Applicable
Taxing Jurisdiction to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member
of such partnership or a beneficial owner who would not have been entitled to such Additional Amounts had it been the Holder of the Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All references herein, in the Indenture, and
in one or more supplemental indentures thereto, the Securities and the Guarantees to principal, premium, if any, interest or any other
amount payable in respect of any Security shall be deemed to include all Additional Amounts, if any, payable in respect of such principal,
premium, interest or other amount payable, unless the context otherwise requires, and express mention of the payment of Additional Amounts
in any provision hereof shall not be construed as excluding reference to Additional Amounts in those provisions hereof where such express
mention is not made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the Guarantors, on the
one hand, and the rights of the Holders of the Securities of each series on the other hand to be affected under the Indenture at any time
by the Issuer, the Guarantors and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities
at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages
in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of
such series, to waive, on behalf of the Holders of all Securities of such series, compliance by the Issuer or the Guarantors, or all or
any of them, 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: 0 0 12pt; text-align: justify">[<I>If applicable, insert</I> &#8212; Each
Holder hereby consents to the Issuer or any Guarantor (or any additional or successor Guarantor) applying to a court of competent jurisdiction
for an order sanctioning a reduction in any of its share capital accounts including, without limitation, by re-characterizing any sum
standing to the credit of a share premium account as a distributable reserve (a &#8220;Reduction of Capital&#8221;). Each Holder hereby
authorizes and requests the Trustee and the Paying Agent, as applicable, on behalf of the Holder, to sign any necessary form of consent
that the Issuer or any Guarantor (or any additional or successor Guarantor) may reasonably request in connection with a Reduction of Capital.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As provided in and subject to the provisions
of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture, or for
the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of at least 25% in aggregate
principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity satisfactory to it, and the Trustee shall
not have received from the Holders of a majority in aggregate principal amount of Securities of this series at the time Outstanding a
direction inconsistent with such request, and the Trustee shall have failed to institute any such proceeding, for 60 days after receipt
of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for
the enforcement of any payment of principal hereof or any premium or interest (including Additional Amounts) hereon on or after the respective
due dates expressed herein.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No reference herein to the Indenture and no
provision of this Security or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional,
to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein
prescribed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">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 Issuer in any place where the principal of and any premium and interest on
this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer, the
Guarantors and the Registrar duly executed by, the Holder hereof or his 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, shall be issued
to the designated transferee or transferees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Securities of this series are issuable
only in registered form without coupons in denominations of U.S.$&nbsp;[ ] and any integral multiple of U.S.$ [ ] in excess thereof. As
provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No service charge shall be made for any such
registration of transfer or exchange, but the Issuer or the Agents 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: 0 0 12pt; text-align: justify">Prior to due presentment of this Security for
registration of transfer to the Registrar (and written notification from the Registrar thereof), the Issuer, the Guarantors, the Trustee,
the Agents and any agent of the Issuer, the Guarantors or the Trustee or Agents may treat the Person in whose name this Security is registered
as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Issuer, the Guarantors, the Trustee, the
Agents nor any such agent shall be affected by notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[This Security is a Global Security and is
subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 3.5 thereof on transfers
and exchanges of Global Securities.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[<I>Insert other terms applicable to the Securities,
as appropriate.</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Security, the Guarantees and the Indenture
shall be governed by, and construed in accordance with, the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All terms used in this Security and the Guarantees
set forth below which are defined in the Indenture shall have the meanings assigned to them in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.85pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.1pt 0 0 1.25pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">ABBREVIATIONS</FONT></P>

<P STYLE="font: 10pt/110% Times New Roman, Times, Serif; margin: 10.1pt 19.1pt 0 6.15pt; text-indent: 21.05pt">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 according to applicable
laws or regulations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">&nbsp;</P>


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

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-top: 0.3pt; padding-right: 5.4pt; padding-left: 5.4pt">TEN COM - as tenants in common</TD>
    <TD STYLE="width: 50%; padding-top: 0.3pt; padding-right: 5.4pt; padding-left: 5.4pt">UNIF GIFT MIN ACT&#8212;________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0.3pt; padding-right: 5.4pt; padding-left: 5.4pt">TEN ENT - as tenants by the entireties</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;(Cust)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">Custodian ________________ under <FONT STYLE="letter-spacing: -0.1pt">Uniform</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0.3pt; padding-right: 5.4pt; padding-left: 5.4pt">JT TEN - as joint tenants with right of survivorship and not as tenants in common</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0; padding-right: 120.4pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Minor)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">Gifts to Minors Act <FONT STYLE="letter-spacing: 0.4pt">______________</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0; text-align: center; padding-right: 80.4pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(State)</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Additional abbreviations may also be used though
not in the above list.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[IF SECURITY IS A GLOBAL SECURITY, INSERT AS
A SEPARATE PAGE&#8212;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Schedule A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SCHEDULE OF ADJUSTMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Initial Principal Amount: U.S.$</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">Date adjustment made</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">Principal amount increase</TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">Principal amount</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">Principal amount following adjustment</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">Notation made on behalf of the Registrar </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD><I>Form of Trustee&#8217;s Certificate of Authentication<B>.</B></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee&#8217;s and the Authenticating
Agent&#8217;s, as applicable, certificate of authentication shall be in substantially the following form: Certificate of Authentication:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Dated:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">WILMINGTON TRUST, NATIONAL ASSOCIATION,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">as Trustee</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: CITIBANK, N.A.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">as Authenticating Agent</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">________________________________&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Authorized Signatory</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Three<BR>
<BR>
The Securities</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.1</TD><TD><I>Amount Unlimited; Issuable in Series.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The aggregate principal amount of Securities
which may be authenticated and delivered under this Indenture is unlimited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Securities may be issued in one or more
series. There shall be established in or pursuant to Board Resolutions of the relevant Issuer and each Guarantor, as appropriate, and,
subject to Section 3.3, set forth, or determined in the manner provided, in an Officers&#8217; Certificate, or established in one or more
supplemental indentures hereto, prior to the issuance of Securities of any series,</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the identity of the relevant Issuer;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the title of the Securities, including &#8220;CUSIP&#8221; and &#8220;ISIN&#8221; numbers, of the series
(which shall distinguish the Securities of the series from Securities of any other series);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any limit upon the aggregate principal amount of the Securities of the series which may be authenticated
and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, or upon partial redemption of, other Securities of the series pursuant to Section 3.4, 3.5, 3.6, 9.6 or 11.7 and except
for any Securities which, pursuant to Section 3.3, are deemed never to have been authenticated and delivered hereunder);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Person to whom any interest on a Security of the series shall be payable, if other than the Person
in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the date or dates on which the principal of, and any premium on, the Securities of the series is payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the rate or rates at which the Securities of the series shall bear interest, if any, the date or dates
from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record
Date for any interest payable on any Interest Payment Date;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">the place or places where the principal of and any premium and interest on Securities of the series shall
be payable and the manner in which any payment may be made;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">if applicable, the period or periods within which, the price or prices at which and the terms and conditions
upon which any Securities of the series may be redeemed, in whole or in part, at the option of the relevant Issuer of such Securities
and, if other than by a Board Resolution, the manner in which any election by the relevant Issuer of such Securities to redeem the Securities
shall be evidenced and any provisions in addition to or in lieu of the provisions of Article Eleven applicable to Securities of the series;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the obligation, if any, of the relevant Issuer to redeem or purchase any Securities of the series at the
option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which
any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">if other than denominations of U.S.$1,000 and any integral multiple of U.S.$1,000 in excess thereof, the
denominations in which any Securities of the series shall be issuable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">if the amount of principal of, premium, if any, or interest on any Securities of the series may be determined
with reference to an index or pursuant to a formula, the manner in which such amounts shall be determined;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">if other than the currency of the United States of America, the currency, currencies or currency units
(including composite currencies) in which payment of the principal of and any premium and interest on any Securities of the series shall
be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including
for purposes of the definition of &#8220;Outstanding&#8221; in Section 1.1;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">if the principal of, premium, if any, or interest on any Securities of the series is to be payable, at
the election of the relevant Issuer or the Holder thereof, in one or more currencies or currency units (including composite currencies)
other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units (including composite
currencies) in which the principal of, premium, if any, or interest on such Securities as to which such election is made shall be payable,
the periods within which and the terms and conditions upon which such election is to be made and the amount so payable (or the manner
in which such amount shall be determined);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">if other than the principal amount thereof, the portion of the principal amount of Securities of the series
which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">if other than as provided in Section 2.1, the form or forms of the Securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable
as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities
as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon
any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or,
in any such case, the manner in which such amount deemed to be the principal amount shall be determined);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">where appropriate, that the Securities of the series, in whole or any specified part, shall not be defeasible
pursuant to Section 12.2 or Section 12.3 or both such Sections and, if other than by a Board Resolution, the manner in which any election
by the relevant Issuer to defease such Securities shall be evidenced;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify">if applicable, that any Securities of the series shall be issuable in whole or in part in the form of
one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends
which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 2.2 and any circumstances in addition
to or in lieu of those set forth in Section 3.5 in which any such Global Security may be exchanged in whole or in part for Securities
registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than
the Depositary for such Global Security or a nominee thereof, and any circumstances in addition or in lieu of those set forth in Section
3.5 in which transfers of interests in Global Securities may be made;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify">any addition to or change in the covenants set forth in Article Ten which applies to the Securities of
the series;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify">the guarantees to apply with respect to the Securities of the series; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify">if there is more than one Trustee, the identity of the Trustee and, if not Citibank, N.A., the identity
of each Agent, as applicable, with respect to such Securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture,
except as permitted by Section 9.1(e)).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be established in or pursuant to Board Resolutions or supplemental indentures
referred to above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To the extent any terms of the Securities of
the series are established pursuant to Board Resolutions or supplemental indentures, a copy of an appropriate record of such action shall
be certified by the Secretary or an Assistant Secretary of the relevant Issuer and each Guarantor, as the case may be, and delivered to
the Trustee and the Paying Agent at or prior to the delivery of the Officers&#8217; Certificate setting forth the terms of the series.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.2</TD><TD><I>Denominations.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Securities of each series shall be issuable
only in registered form without coupons and only in such denominations as shall be specified as contemplated by Section 3.1. In the absence
of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations
of U.S.$1,000 and any integral multiples of U.S.$1,000 in excess thereof.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.3</TD><TD><I>Execution, Authentication, Delivery and Dating.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Securities shall be executed on behalf
of the relevant Issuer by any one Director or Authorized Officer of the relevant Issuer. The signature of any such Director or Authorized
Officer of the relevant Issuer on the Securities may be manual, electronic or facsimile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Securities bearing the manual, electronic or
facsimile signatures of individuals who were at any time the proper Director or Authorized Officer of the relevant Issuer shall bind the
relevant Issuer notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and
delivery of such Securities or did not hold such offices at the date of such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">At any time and from time to time after the
execution and delivery of this Indenture, the relevant Issuer may deliver Securities of any series executed by the relevant Issuer to
the Trustee and the Authenticating Agent for authentication, together with an Issuer Order for the authentication and delivery of such
Securities, and the Trustee (if the Securities are to be authenticated by both the Trustee and the Authenticating Agent) and the Authenticating
Agent in accordance with such Issuer Order shall authenticate and deliver such Securities. In authenticating such Securities, and/or accepting
the additional responsibilities under this Indenture in relation to such Securities, as applicable, the Trustee and the Authenticating
Agent shall be entitled to receive, and (subject to Sections 6.1 and 6.3) shall be fully protected in relying upon, without investigation,
an Opinion of Counsel (which may be an opinion pertaining to New York law only and which may be subject to any conditions and assumptions
specified in such Opinion of Counsel) stating,</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">if any form of such Securities has been established pursuant to Board Resolutions or indentures supplemental
hereto as permitted by Section 2.1, that such form has been established in conformity with the provisions of this Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">if any terms of such Securities have been established pursuant to Board Resolution or indentures supplemental
hereto as permitted by Section 3.1, that such terms have been established in conformity with the provisions of this Indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">that all conditions precedent to the authentication and delivery of such securities have been complied
with and that, when such Securities have been authenticated and delivered by the Authenticating Agent and issued by the relevant Issuer
in the manner and subject to any conditions and assumptions specified in such Opinion of Counsel, such Securities (in the case of the
Issuer) and the Guarantees thereof (in the case of Guarantors) will constitute valid and legally binding obligations of the relevant Issuer
and the Guarantors, respectively, enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating to or affecting creditors&#8217; rights and to general equity
principles and to such other matters as counsel shall specify therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee or any Agent (including, without
limitation, the Authenticating Agent) shall not be required to authenticate such Securities if the issue of such Securities pursuant to
this Indenture will affect the Trustee&#8217;s or such Agent&#8217;s, as applicable, own rights, duties or immunities under the Securities,
the Guarantees and this Indenture or otherwise in a manner which is not acceptable to the Trustee or such Agent, as applicable, or if
the Trustee or such Agent, as applicable, being advised by counsel, determines that such action may not be lawfully taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the provisions of Section 3.1
and of the second preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary
to deliver the Officers&#8217; Certificate otherwise required pursuant to Section 3.1 or the Issuer Order and Opinion of Counsel otherwise
required pursuant to such second preceding paragraph at or prior to the authentication of such Security of such series if such documents
are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued and reasonably
contemplate the original issuance of such Security of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Security shall be dated the date of its
authentication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No Security or related Guarantee shall be entitled
to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication
substantially in the form provided for herein executed by the Authenticating Agent by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security or Guarantee has been duly authenticated and delivered
hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold
by the relevant Issuer, and the relevant Issuer shall deliver such Security to the Registrar for cancellation as provided in Section 3.9,
for all purposes of this Indenture such Security and any Guarantee shall be deemed never to have been authenticated and delivered hereunder
and shall never be entitled to the benefits of this Indenture including, if applicable, the Guarantee.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Guarantor by its execution of this Indenture
or an indenture supplemental hereto authorizes the relevant Issuer, in the name and on behalf of such Guarantor, to confirm the Guarantee
of such Guarantor to the Holder of each Security authenticated and delivered hereunder by its execution and delivery of each such Security,
with such Guarantee noted thereon, authenticated and delivered by the Authenticating Agent. The Guarantee of a Guarantor with respect
to any Security, whether established by this Indenture, by Board Resolutions of such Guarantor in accordance with Section 3.1 or by an
indenture supplemental hereto, shall bind such Guarantor notwithstanding the fact that no Guarantee may be endorsed on such Security.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.4</TD><TD><I>Temporary Securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pending the preparation of definitive Securities
of any series, the relevant Issuer may execute temporary Securities, and upon compliance with Section 3.3 the Authenticating Agent shall
authenticate and deliver, such temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced,
in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such
appropriate insertions, omissions, substitutions and other variations as the Directors or Authorized Officers executing such Securities
may determine, as evidenced by their execution of such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If temporary Securities of any series are issued,
the relevant Issuer shall cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation
of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such
series upon surrender of the temporary Securities of such series at the office or agency of such Issuer in a Place of Payment for that
series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the relevant
Issuer shall execute, and the Authenticating Agent shall authenticate and deliver in exchange therefor, one or more definitive Securities
of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary
Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such
series and tenor.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.5</TD><TD><I>Registration, Registration of Transfer and Exchange.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">General</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer shall cause to be kept
at the Corporate Trust Office of the Trustee or with the Registrar, as applicable, a register (the register maintained in such office
and in any other office or agency of the relevant Issuer in a Place of Payment being herein sometimes collectively referred to as the
&#8220;Security Register&#8221;) in which, subject to such reasonable regulations as it may prescribe, the relevant Issuer shall provide
for the registration of Securities and of transfers of Securities. Citibank, N.A. is hereby appointed by the relevant Issuer as the initial
&#8220;Registrar&#8221; for the purpose of registering Securities and transfers of Securities as herein provided. For the avoidance of
doubt, the Trustee shall be able to conclusively rely on information provided by the Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon surrender for registration of transfer
of any Security of a series at the office or agency of the relevant Issuer in a Place of Payment for that series, the relevant Issuer
shall execute, and the Authenticating Agent shall authenticate and deliver in the name of the designated transferee or transferees, one
or more new Securities of the same series, of any authorized denominations and of like terms and aggregate principal amount.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to this Section 3.5, at the option
of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and
of like terms and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any
Securities are so surrendered for exchange, the relevant Issuer shall execute, and the Authenticating Agent shall authenticate and deliver,
the Securities which the Holder making the exchange is entitled to receive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All Securities issued upon any registration
of transfer or exchange of Securities shall be the valid obligations of the relevant Issuer (and the related Guarantees shall be the valid
obligations of the Guarantors), evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered
upon such registration of transfer or exchange thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Every Security presented or surrendered for
registration of transfer or for exchange shall (if so required by the relevant Issuer or the Registrar) be duly endorsed, or be accompanied
by a written instrument of transfer in form satisfactory to the relevant Issuer and the Registrar and duly executed, by the Holder thereof
or his attorney duly authorized in writing. Such transfer or exchange will be effected upon the Registrar being satisfied with the documents
of title and identity of the people making the request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No service charge shall be made for any registration
of transfer or exchange of Securities, but the relevant Issuer may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to
Sections 3.4, 9.6 or 11.7 not involving any transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the Securities of any series are to be redeemed
in part, the relevant Issuer shall not be required (A) to issue, register the transfer of or exchange any Securities of that series (or
of that series and specified terms, as the case may be) during a period beginning at the opening of business 15 days before the day of
the giving of a notice of redemption of any such Securities selected for redemption under Section 11.3 and ending at the close of business
on the day of such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption in whole or in part,
except the unredeemed portion of any Security being redeemed in part.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Global Securities</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Except as otherwise provided pursuant to Section
3.1, this Section 3.5(b) shall apply only to Global Securities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary
designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor,
and each such Global Security shall constitute a single Security for all purposes of this Indenture.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Notwithstanding any other provision in this Indenture or the Securities, no Global Security may be exchanged
in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name
of any Person other than the Depositary or a nominee thereof unless (A) the Depositary (i) has notified the relevant Issuer at any time
that it is unwilling or unable to continue as Depositary for such Global Security and a successor Depositary is not appointed within 90
days or (ii) has ceased to be registered as a clearing agency under the Exchange Act and a successor Depositary is not appointed within
90 days, (B) there shall have occurred and be continuing an Event of Default with respect to the Securities of such series or (C) a request
for certificates has been made by the relevant Issuer upon 60 days&#8217; prior written notice given to the Registrar (with a copy to
the Trustee) in accordance with the Depositary&#8217;s customary procedures and a copy of such notice has been received by the relevant
Issuer from Registrar (with a copy provided by the Registrar to the Trustee).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">Any Global Security exchanged pursuant
to Clause (A) above shall be so exchanged in whole and not in part and any Global Security exchanged pursuant to Clause (B) or (C) above
may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global Security
or any portion thereof shall be a Global Security; provided that any such Security so issued that is registered in the name of a Person
other than the Depositary or a nominee thereof shall not be a Global Security.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Securities issued in exchange for a Global Security or any portion thereof pursuant to Clause (ii) above
shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate principal amount equal to that
of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations
as the Depositary shall designate and shall bear any legends required hereunder. Any Global Security to be exchanged in whole shall be
surrendered by the Depositary to the Paying Agent or the Registrar, as applicable. With regard to any Global Security to be exchanged
in part, either such Global Security shall be so surrendered for exchange or, if the Paying Agent or the Registrar, as applicable, is
acting as custodian for the Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced,
by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee
or Registrar, as applicable. Upon any such surrender or adjustment, the Authenticating Agent shall authenticate and deliver the Security
issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">In the event of the occurrence of any of the events specified in Clause (2) above, the relevant Issuer
shall promptly make available to the Authenticating Agent a reasonable supply of certificated Securities in definitive, fully registered
form, without interest coupons.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">Neither any members of, or participants in, the Depositary (&#8220;Agent Members&#8221;) nor any other
Persons on whose behalf Agent Members may act (including Euroclear Bank, S.A./N.V. (&#8220;Euroclear&#8221;) and Clearstream Banking,
S.A. (&#8220;Clearstream&#8221;) and account holders and participants therein) shall have any rights under this Indenture with respect
to any Global Security, or under any Global Security, and the Depositary or such nominee, as the case may be, may be treated by the relevant
Issuer, the Trustee, the Agents and any agent of the relevant Issuer, the Trustee and the Agents, as applicable, as the absolute owner
and holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the relevant
Issuer, the Trustee and the Agents or any agent of the relevant Issuer, the Trustee and the Agents, as applicable, from giving effect
to any written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair,
as between the Depositary, its Agent Members and any other person on whose behalf an Agent Member may act, the operation of customary
practices of such Persons governing the exercise of the rights of a Holder of any Security.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">None of the Trustee, the Agents or any Agent Member shall have any responsibility for any actions taken
or not taken by the Depositary.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.6</TD><TD><I>Mutilated, Destroyed, Lost and Stolen Securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If any mutilated Security is surrendered to
the Registrar, the relevant Issuer shall execute and the Authenticating Agent shall authenticate and deliver in exchange therefor, a new
Security of the same series and of like tenor and principal amount, having and bearing a number not contemporaneously outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If there shall be delivered to the relevant
Issuer, the Trustee, the Registrar and the Authenticating Agent (i) evidence to their satisfaction of the destruction, loss or theft of
any Security and (ii) such security or indemnity as may be required by them to hold each of them and any of their agents harmless, then,
in the absence of notice to the relevant Issuer, the Trustee, the Registrar or the Authenticating Agent that such Security has been acquired
by a bona fide purchaser, the relevant Issuer shall execute, and, the Authenticating Agent shall authenticate and deliver, in lieu of
any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount, and bearing a number
not contemporaneously outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In case any such mutilated, destroyed, lost
or stolen Security has become or is about to become due and payable, the relevant Issuer or any Guarantor, each in its discretion may,
instead of issuing a new Security, pay such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon the issuance of any new Security under
this Section, the relevant Issuer or the Guarantors may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses (including attorney&#8217;s fees
and expenses) of the Trustee and the Registrar) connected therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Every new Security of any series issued pursuant
to this Section in exchange for any mutilated Security or in lieu of any destroyed, lost or stolen Security, and any Guarantee thereof,
shall constitute an original contractual obligation of the relevant Issuer and the Guarantors, whether or not the mutilated, destroyed,
lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Securities and Guarantees of that series duly issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The provisions of this Section are exclusive
and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.7</TD><TD><I>Payment of Interest; Interest Rights Preserved.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Interest on any Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or
one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any interest on any Security of any series
which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called &#8220;Defaulted Interest&#8221;)
shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted
Interest may be paid by the relevant Issuer, at its election in each case, as provided in Clause (a) or (b) below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The relevant Issuer or a Guarantor may elect to make payment of any Defaulted Interest to the Persons
in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The relevant Issuer or a
Guarantor shall notify the Trustee and Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each Security
of such series and the date of the proposed payment, and at the same time the relevant Issuer shall deposit with the Trustee or the Paying
Agent, as applicable, an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall
make arrangements satisfactory to the Trustee or the Paying Agent, as applicable, for such deposit prior to the date of the proposed payment,
such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Thereupon the relevant Issuer or such
Guarantor shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less
than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee and the Paying Agent
of the notice of the proposed payment. The relevant Issuer or such Guarantor shall promptly notify the Trustee and the Paying Agent of
such Special Record Date and, in the name and at the expense of the relevant Issuer or such Guarantor, the Paying Agent shall cause notice
of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class prepaid postage, to
each Holder of Securities of such series in the manner set forth in Section 1.5, not less than 10&nbsp;days prior to such Special Record
Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted
Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered
at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (b).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The relevant Issuer or a Guarantor may make payment of any Defaulted Interest on the Securities of any
series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed,
and upon such notice as may be required by such exchange, if, after written notice given by the relevant Issuer or such Guarantor to the
Trustee and the Paying Agent of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the
Trustee and the Paying Agent.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to the foregoing provisions of this
Section 3.7, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.8</TD><TD><I>Persons Deemed Owners.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Prior to due presentment of a Security for
registration of transfer to the Registrar, the relevant Issuer, the Guarantors, the Trustee, the Registrar, the Paying Agent and any agent
of the relevant Issuer, the Guarantors, the Trustee, the Registrar and the Paying Agent, as applicable, 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 premium, if any)
and (subject to Section 3.7) interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue,
and none of the relevant Issuer, the Guarantors, the Trustee, the Registrar, the Paying Agent nor any agent of the relevant Issuer, any
Guarantor, the Trustee, the Registrar or the Paying Agent, as applicable, shall be affected by notice to the contrary. For the avoidance
of doubt, in connection with the foregoing, the Trustee shall be able to conclusively rely on information provided by the Registrar.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.9</TD><TD><I>Cancellation.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All Securities surrendered for payment, redemption,
registration of transfer or exchange shall, if surrendered to any Person other than the Trustee or the Registrar, as applicable, be delivered
to the Registrar, as applicable, and shall be promptly cancelled by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer or any Guarantor may at
any time deliver to the Trustee or the Registrar, as applicable, for cancellation any Securities previously authenticated and delivered
hereunder which the relevant Issuer or any Guarantor may have acquired in any manner whatsoever, and may deliver to the Trustee or Registrar,
as applicable (or to any other Person for delivery to the Trustee or Registrar, as applicable) for cancellation any Securities previously
authenticated hereunder which the relevant Issuer has not issued and sold, and all Securities so delivered shall be promptly cancelled
by the Trustee or Registrar, as applicable. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled
as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee or Registrar,
as applicable, shall be disposed of in accordance with the Trustee&#8217;s or Registrar&#8217;s customary practice.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.10</TD><TD><I>Computation of Interest.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Except as otherwise established as contemplated
by Section 3.1 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year
of twelve 30-day months.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.11</TD><TD><I>Further Issues</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer of a series of Securities
may, without the consent of the holders, issue additional Securities on terms and conditions identical to those of the Securities of such
series other than with respect to the date of issuance, the issue price and the date from which interest will accrue. Such additional
Securities will increase the aggregate principal amount of, and will be consolidated and form a single series with, such Securities; provided,
however, that if such additional Securities are not fungible with such Securities for U.S. federal income tax purposes, such additional
Securities will have a separate CUSIP or other identifying number from those of the Securities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.12</TD><TD><I>CUSIP and ISIN Numbers.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer in issuing the Securities
may use &#8220;CUSIP&#8221; and &#8220;ISIN&#8221; numbers (if then generally in use), and, if so, the Trustee or Agents shall use &#8220;CUSIP&#8221;
and &#8220;ISIN&#8221; numbers in notices as a convenience to Holders; provided that any such notice may state that no representation
is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice and that reliance may
be placed only on the other identification numbers printed on the Securities, and any such notice shall not be affected by any defect
in or omission of such numbers. The relevant Issuer shall promptly notify the Trustee and Agents in writing of any change in the &#8220;CUSIP&#8221;
and &#8220;ISIN&#8221; numbers.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.13</TD><TD><I>Agents.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The rights, powers, duties, obligations and
actions of the Trustee and of each Agent under this Indenture are several and not joint or joint and several. Except as otherwise provided
herein, neither the Trustee nor any Agent shall be under any fiduciary duty whatsoever to any Person hereunder, nor shall any of them
have any other obligation towards, or have any relationship or other agency or trust, for or with any Person other than the Issuers and
the Guarantors. The Trustee shall not be deemed to be an Agent except to the extent it is separately appointed and agrees in writing to
act as such.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.14</TD><TD><I>Withholding.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Payments of principal and interest in respect
to the Securities are subject in all cases to any withholding or deduction required pursuant to an agreement described in Section 1471(b)
of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code, any regulations or agreements thereunder, official
interpretations thereof, or any law implementing an intergovernmental approach thereto.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Four<BR>
<BR>
Satisfaction and Discharge</B></FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD><I>Satisfaction and Discharge of Indenture.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Indenture shall upon request of the relevant
Issuer, made in an Issuer Request, cease to be of further effect (except as provided in the last paragraph to this Section 4.1) with respect
to the relevant Issuer&#8217;s and the Guarantors&#8217; obligations in respect of all Securities of the relevant Issuer, and the Trustee,
at the expense of the relevant Issuer, shall execute instruments in form and substance satisfactory to the Trustee, the relevant Issuer
and the Guarantors acknowledging satisfaction and discharge of this Indenture with respect to the relevant Issuer and its Securities,
when</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">either:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">all Securities of the relevant Issuer theretofore authenticated and delivered (other than (i) Securities
which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.6 and (ii) Securities for whose
payment money has theretofore been deposited in trust or segregated and held in trust by the relevant Issuer or a Guarantor and thereafter
repaid to the relevant Issuer or such Guarantor, as the case may be, or discharged from such trust, as provided in Section 10.3) have
been delivered to the Trustee or any Agent for cancellation; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">all such Securities not theretofore delivered to the Trustee or any Agent for cancellation</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD>have become due and payable, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD>will become due and payable at their Stated Maturity within one year, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD>are to be called for redemption within one year under arrangements satisfactory to the Trustee or any Agent for the giving of notice
of redemption by the Trustee or any Agent in the name, and at the expense, of the relevant Issuer,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and the relevant Issuer or a Guarantor, in
the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Paying Agent as trust funds for the
purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the
Trustee or any Agent for cancellation, for principal, premium, if any, and interest to the date of such deposit (in the case of Securities
which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the relevant Issuer or a Guarantor has paid or caused to be paid or made provision satisfactory to the
Trustee and the Agents, as applicable, for the payment of all other sums payable hereunder by the relevant Issuer; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the relevant Issuer has delivered to the Trustee and the Agents an Officers&#8217; Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this
Indenture have been complied with.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the satisfaction and discharge
of this Indenture, the obligations of the Issuers and the Guarantors to the Trustee and the Agents and the lien of the Trustee under Section
6.7, the obligations of the relevant Issuer to any Authenticating Agent under Section 6.4, any obligations of the Trustee and the Agents
under Section 4.2, the rights and obligations set forth in the last paragraph of Section 10.3 and any rights of registration of transfer,
exchange or replacement of Securities provided in Sections 3.4, 3.5, 3.6, 9.6, 10.2 or 11.7 and any rights to Additional Amounts pursuant
to Section 10.7 shall survive.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.2</TD><TD><I>Application of Trust Money.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to the provisions of the last paragraph
of Section 10.3, all money deposited with [an Agent] pursuant to Section 4.1 shall be held in trust and applied by [such Agent], in accordance
with the provisions of the Securities and this Indenture, to the payment, either directly or through the Paying Agent (including the relevant
Issuer or any Guarantor acting as its own Paying Agent) as the Registrar may determine, to the Persons entitled thereto, of the principal
(and premium, if any) and any interest for whose payment such money has been deposited with the Paying Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Five<BR>
<BR>
Remedies</B></FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD><I>Events of Default.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Event of Default&#8221;, wherever used
herein with respect to Securities of any series of the relevant Issuer or the Guarantees thereof, means any one of the following events
with respect to the relevant Issuer of such series or any Guarantor (whatever the reason for such Event of Default and whether it shall
be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order,
rule or regulation of any administrative or governmental body):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">default in the payment of the principal of or any premium on any Security of that series at its Maturity;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">default in the payment of any interest (including Additional Amounts, if any) upon any Security of that
series when it becomes due and payable, and continuance of such default for a period of 30 days; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">default in the performance, or breach, of any other covenant or warranty of the relevant Issuer of the
Securities of that series or any Guarantor in this Indenture (other than a covenant or warranty a default in whose performance or whose
breach is elsewhere in this Section 5.1 specifically dealt with or which has expressly been established as contemplated by Section 3.1
solely for the benefit of a series of Securities other than that series) and continuance of such default or breach for a period of 45
days after there has been given, by registered or certified mail, to the relevant Issuer and the Guarantors by the Trustee or to the relevant
Issuer, the Guarantors and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that
series a written notice specifying such default or breach, requiring it to be remedied and stating that such notice is a &#8220;Notice
of Default&#8221; hereunder; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">a default or defaults under any bond, debenture, note or other evidence of indebtedness for money borrowed
by the relevant Issuer or any Guarantor (including a default with respect to Securities of any series other than that series) having an
aggregate principal amount outstanding of at least GBP30,000,000 (or the equivalent thereof in other currencies or currency units), or
under any mortgage,</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">indenture, agreement or instrument (including
this Indenture) under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by the
relevant Issuer or any Guarantor having an aggregate principal amount outstanding of at least GBP30,000,000 (or the equivalent thereof
in other currencies or currency units), whether such indebtedness now exists or shall hereafter be created, which default shall have resulted
in such indebtedness (in each such case being, such indebtedness of at least GBP30,000,000 (or the equivalent thereof in other currencies
or currency units) aggregate principal amount outstanding) becoming or being validly declared due and payable prior to the date on which
it would otherwise have become due and payable, without such indebtedness having been discharged or such acceleration having been rescinded
or annulled within a period of 10 days after there shall have been given, by registered or certified mail, to the relevant Issuer and
the Guarantors by the Trustee a written notice specifying such default and requiring the relevant Issuer or any Guarantor, as the case
may be, to cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled, as the case may be, and stating
that such notice is a &#8220;Notice of Default&#8221; hereunder; provided, however, that, subject to the provisions of Sections 6.1 and
6.2, the Trustee shall not be deemed to have knowledge or notice of such default unless either (A) a Responsible Officer of the Trustee
shall have actual knowledge of such default or (B) the Trustee shall have received at the Corporate Trust Office of the Trustee written
notice of such default from the relevant Issuer or from any Guarantor; or</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect
of the relevant Issuer or any Guarantor or any Significant Subsidiary of the Parent Guarantor in an involuntary case or proceeding under
any applicable bankruptcy, insolvency, reorganization, examinership or other similar law or (B) a decree or order adjudging the relevant
Issuer or any Guarantor or any Significant Subsidiary of the Parent Guarantor a bankrupt or insolvent or their property <I>en d&eacute;sastre</I>,
or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the relevant
Issuer or any Guarantor or any Significant Subsidiary of the Parent Guarantor, as the case may be, under any applicable law, or appointing
a custodian, receiver, liquidator, assignee, trustee, sequestrator, examiner or other similar official (including the Viscount in the
case of a <I>d&eacute;sastre</I>) of the relevant Issuer, any Guarantor or any Significant Subsidiary of the Parent Guarantor or of any
substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or
order for relief or any such other decree or order unstayed and in effect for a period of 60&nbsp;consecutive days in any such case other
than such decree or order made or a resolution passed for the purposes of a reconstruction, amalgamation or reorganization where the relevant
Issuer or any Guarantor or the relevant Significant Subsidiary is solvent; or</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the commencement by the relevant Issuer or any Guarantor or any Significant Subsidiary of the Parent Guarantor
of a voluntary case or proceeding (including a winding up or <I>d&eacute;sastre</I> proceedings) under any applicable bankruptcy, insolvency,
reorganization, examinership or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the
consent by it to the entry of a decree or order for relief in respect of the relevant Issuer or any Guarantor or any Significant Subsidiary
of the Parent Guarantor, as the case may be, in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization,
examinership or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing
by it of a petition or answer or consent seeking reorganization or relief under any applicable law, or the consent by it to the filing
of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator,
examiner or other similar official (including the Viscount in the case of a <I>d&eacute;sastre</I>) of the relevant Issuer or any Guarantor
or any Significant Subsidiary of the Parent Guarantor or of any substantial part of its property, or the making by it of an assignment
for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the
taking of corporate action by the relevant Issuer or any Guarantor or any Significant Subsidiary of the Parent Guarantor in furtherance
of any such action in any such case other than such case or proceeding undertaken, consent given or filing made for the purposes of a
reconstruction, amalgamation or reorganization where the relevant Issuer or any Guarantor or the relevant Significant Subsidiary is insolvent;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">any Guarantee of Securities of that series is held by a final, non-appealable order resulting from any
judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect or any Guarantor or any Person
acting on behalf of any Guarantor, denies or disaffirms its obligations under the Guarantees of Securities of that series; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">any other Event of Default established as contemplated by Section 3.1 with respect to Securities of that
series.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">An Event of Default for one series of Securities
shall not necessarily constitute an Event of Default for any other series of Securities issued hereunder.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD><I>Acceleration of Maturity; Rescission and Annulment.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an Event of Default with respect to Securities
of any series of the relevant Issuer at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders
of at least 25% in aggregate principal amount of the Outstanding Securities of that series of the relevant Issuer may declare the aggregate
principal amount of all the Securities of that series of the relevant Issuer to be due and payable immediately, by a notice in writing
to the relevant Issuer and the Guarantors (and to the Trustee if given by Holders), and upon any such declaration such aggregate principal
amount (or specified amount) shall become immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">At any time after such a declaration of acceleration
with respect to Securities of any series at the time Outstanding has been made and before a judgment or decree for payment of the money
due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in aggregate principal amount
of the Outstanding Securities of that series, by written notice to the relevant Issuer and the Trustee, may rescind and annul such declaration
and its consequences if:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the relevant Issuer or the Guarantors have paid or deposited with the Trustee or the Paying Agent a sum
sufficient to pay:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">all overdue interest and any Additional Amounts thereon on all of the Securities of that series;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the principal of (and premium, if any, on) any Securities of that series which have become due otherwise
than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates
established pursuant to Section 3.1 therefor; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">all sums paid or advanced by the Trustee and the Agents, as applicable, hereunder and the documented compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, the Agents, their counsel, and all amounts due to the Trustee
under Section 6.7; and</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all Events of Default with respect to Securities of that series, other than the non-payment of the principal
of Securities of that series which has become due solely by such declaration of acceleration, have been cured or waived as provided in
Section 5.13.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No such rescission shall affect any subsequent
default or impair any right consequent thereon.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.3</TD><TD><I>Collection of Indebtedness and Suits for Enforcement by Trustee.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer and each Guarantor covenant
that if:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">default is made in the payment of any interest (including any Additional Amounts) on any Security when
such interest becomes due and payable and such default continues for a period of 30 days, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">default is made in the payment of the principal (including any Redemption Price) of, or premium, if any,
on any Security at the Maturity thereof,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">the relevant Issuer and the Guarantors will,
upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such
Securities for principal, premium, if any, and interest, and, to the extent that payment of such interest shall be legally enforceable,
interest on any overdue principal and premium and on any overdue interest, at the rate or rates established pursuant to Section 3.1 therefor,
together with any Additional Amounts thereon, and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, including the documented compensation, expenses, fees, disbursements and advances of the Trustee, its agents
and counsel, the Agents, their counsel, and any other amounts due the Trustee under Section 6.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an Event of Default with respect to Securities
of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of
the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect
and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise
of any power granted herein, or to enforce any other proper remedy.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.4</TD><TD><I>Trustee May File Proofs of Claim.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In case of any judicial proceeding relative
to the relevant Issuer and any Guarantor (or any other obligor upon the Securities of a series), their property or their creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under
the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee
shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the
same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator, examiner or other similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to
the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the documented compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, the Agents, their counsel, and any other amounts due the Trustee under
Section 6.7.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.5</TD><TD><I>Trustee May Enforce Claims Without Possession of Securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All rights of action and claims under this
Indenture or the Securities or the Guarantees may be prosecuted and enforced by the Trustee without the possession of any of the Securities
or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its
own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the documented compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel and other amounts due to it under Section 6.7, be for the
ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.6</TD><TD><I>Application of Money Collected.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any money and other property collected by the
Trustee pursuant to this Article Five shall be applied in the following order, at the date or dates fixed by the Trustee and, in case
of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation
thereon of the payment if only partially paid and upon surrender thereof if fully paid:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">FIRST: To the payment of all amounts due the
Trustee and the Agents, as applicable, and any predecessor thereof under Section 6.7;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECOND: To the payment of the amounts then
due and unpaid for principal of and any premium and interest on the Securities in respect of which or for the benefit of which such money
has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for
principal, premium, if any, and interest, respectively; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">THIRD: The balance, if any, to the relevant
Issuer, to the Guarantors or any other Person or Persons entitled thereto.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.7</TD><TD><I>Limitation on Suits.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No Holder of any Securities of any series shall
have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver
or trustee, or for any other remedy hereunder, unless:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect
to the Securities of that series;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series
shall have made written request to the Trustee to institute action or proceedings in respect of such Event of Default in its own name
as Trustee hereunder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">such Holder or Holders have offered to the Trustee indemnity satisfactory to the Trustee against the costs,
expenses and liabilities to be incurred in compliance with such request;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to
institute any such action or proceeding; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">no direction inconsistent with such written request has been given to the Trustee during such 60-day period
by the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">it being understood and intended that no one or more of such Holders shall have any right in any manner
whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such
Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all of such Holders (it being understood that the Trustee
does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). For
the protection and enforcement of the provisions of this Section 5.7, each and every Holder of the Outstanding Securities of any series
and the Trustee shall be entitled, subject to Section 5.13, to such relief as can be given at law or in equity.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.8</TD><TD><I>Unconditional Right of Holders to Receive Principal, Premium and Interest.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding any other provision in this
Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of
and any premium and (subject to Section 3.7) interest on such Security pursuant to the terms thereof or the Guarantees thereof (and any
Additional Amounts) on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date)
and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.9</TD><TD><I>Restoration of Rights and Remedies.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the Trustee, Agents, or any Holder has instituted
any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason,
or has been determined adversely to the Trustee, Agents, or to such Holder, then and in every such case, subject to any determination
in such proceeding, the relevant Issuer, the Guarantors, the Trustee, Agents, and the Holders shall be restored severally and respectively
to their former positions hereunder and thereafter all rights and remedies of the Trustee, the Agents, and the Holders shall continue
as though no such proceeding had been instituted.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.10</TD><TD><I>Rights and Remedies Cumulative.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Except as otherwise provided with respect to
the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 3.6, no right or remedy
herein conferred upon or reserved to the Trustee, the Agents, or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.11</TD><TD><I>Delay or Omission Not Waiver.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No delay or omission of the Trustee, the Agents,
or of any Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy
or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article Five or by
law to the Trustee, the Agents, or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee, the Agents, or by the Holders, as the case may be.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.12</TD><TD><I>Control by Holders.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to Section 6.3(e), the Holders of a
majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee,
with respect to the Securities of such series; provided that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">such direction shall not be in conflict with any rule of law or with this Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Trustee shall not determine that the action so directed would be unjustly prejudicial to the Holders
not taking part in such direction or result in individual liability for the Trustee; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such
direction;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">provided, further that the Trustee shall be
under no obligation to determine whether any such direction shall be in such conflict or so unjustly prejudicial.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Nothing in this Indenture shall impair the
right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction
by Holders of Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee shall not be liable with respect
to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to this Article Five. Prior
to taking any such action hereunder, the Trustee shall be entitled to indemnification satisfactory to it against all fees, losses, liabilities
and expenses (including attorney&#8217;s fees and expenses) that may be caused by taking or not taking such action.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.13</TD><TD><I>Waiver of Past Defaults.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Holders of a majority in aggregate principal
amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default
hereunder with respect to such series and its consequences, except a default</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">in the payment of the principal of, premium, if any, or interest (including Additional Amounts, if any)
on any Security of such series, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in respect of a covenant or provision hereof which under Section 9 cannot be modified or amended without
the consent of the Holder of each Outstanding Security of such series affected.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon any such waiver, such default shall cease
to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or impair any right consequent thereon.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.14</TD><TD><I>Undertaking for Costs.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In any suit for the enforcement of any right
or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court
may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs, including attorneys&#8217;
fees and expenses, against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that
neither this Section 5.14 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make
such an assessment in any suit instituted by the relevant Issuer or any Guarantor, the Trustee, the Agents, or any Holder or group of
Holders holding in aggregate more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted
by any Holder for the enforcement of the payment of the principal of, premium, if any, or interest on any Outstanding Security of any
series on or after the due date expressed in such Security in accordance with its terms.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.15</TD><TD><I>Waiver of Usury, Stay or Extension Laws.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Issuer and each Guarantor covenants (to
the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the
benefit or advantage of any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and each Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly
waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Six<BR>
<BR>
The Trustee</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.1</TD><TD><I>Certain Duties and Responsibilities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The duties and responsibilities of the Trustee
shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee
to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the
exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this
Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions
of this Section 6.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Except during the continuance of an Event of
Default, (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and (2) in the absence of bad faith on its part,
the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates
or opinions furnished to the Trustee and conforming to the requirements of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In case an Event of Default has occurred and
is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care
and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The obligations and liabilities (including,
without limitations, obligations and liabilities in connection with Article 10 of this Indenture) of (a) the Trustee, on the one hand,
and (b) each Agent and/or Paying Agent, on the other hand, under this Indenture are separate and distinct, and neither shall be responsible
for the acts or omissions of the other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.2</TD><TD><I>Notice of Defaults.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If a default occurs hereunder with respect
to Securities of any series of which the Trustee has knowledge, the Trustee shall give the Holders of Securities of such series notice
of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character
specified in Section 5.1(c) with respect to Securities of such series, no such notice to Holders shall be given until at least 45&nbsp;days
after the occurrence thereof. For the purpose of this Section 6.2, the term &#8220;default&#8221; means any event which is, or after notice
or lapse of time or both would become, an Event of Default with respect to Securities of such series.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.3</TD><TD><I>Certain Rights of Trustee.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to the provisions of Section 6.1:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon
any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, security, bond, debenture,
note, other evidence of indebtedness or other paper or document (whether in its original or facsimile form) believed by it to be genuine
and to have been signed or presented by the proper party or parties;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any request or direction of the relevant Issuer mentioned herein shall be sufficiently evidenced by an
Issuer Request or Issuer Order and any resolution of the Board of Directors of the relevant Issuer or any Guarantor may be sufficiently
evidenced by a Board Resolution;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be
proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, rely conclusively upon an Officers&#8217; Certificate;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Trustee may consult with counsel or other professional advisors of its own choice and the advice of
such counsel or other professional advisors or any Opinion of Counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the
Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance
with such request or direction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, security, bond, debenture, note, other
evidence of indebtedness or other paper or document in connection with this Indenture, but the Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the relevant Issuer, personally or by agent
or attorney and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly
or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent
or attorney appointed with due care by it hereunder; provided that the Trustee shall be required to terminate any such agent if it has
actual knowledge of any failure by such agent to perform its delegated duties;</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer
of the Trustee, unless it shall be proved that the Trustee was grossly negligent in ascertaining the pertinent facts;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Trustee shall not be deemed to have notice of any default or Event of Default unless a Responsible
Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received
by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">the permissive rights of the Trustee enumerated herein shall not be construed as duties;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">in no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised
of the likelihood of such loss or damage and regardless of the form of action;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder,
and to each Agent and to each other agent, custodian and other Person employed to act hereunder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">the Trustee may request that the relevant Issuer deliver an Officers&#8217; Certificate setting forth
the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which
Officers&#8217; Certificate may be signed by any person authorized to sign an Officers&#8217; Certificate, including any person specified
as so authorized in any such certificate previously delivered and not superseded;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">the Trustee shall not be required to give any bond or surety in respect of the performance of its powers
and duties hereunder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">The Trustee shall not be liable for any acts or omissions, except for such losses, damages or expenses
which have been finally adjudicated by a court of competent jurisdiction to have directly resulted from the Trustee&#8217;s gross negligence
or willful misconduct;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">The Trustee may, at the expense of the relevant Issuer, request, rely on and act in accordance with Officers&#8217;
Certificates and/or opinions of counsel, and shall incur no liability and shall be fully protected in acting or refraining from acting
in accordance with such Officers&#8217; Certificates and opinions of counsel; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">if the Trustee receives any conflicting, unclear or equivocal instructions, it may refrain from taking
action until such conflict is resolved or such instructions are clarified and shall suffer no liability for so doing.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.4</TD><TD><I>Not Responsible for Recitals or Issuance of Securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The recitals contained herein and in the Securities,
except the Trustee&#8217;s certificates of authentication, shall be taken as the statements of the Issuers or the Guarantors, and neither
the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to
the validity or sufficiency of this Indenture or of the Securities or the Guarantees. Neither the Trustee nor any Authenticating Agent
shall be accountable for the use or application by the Issuers or the Guarantors of the Securities or the proceeds thereof.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.5</TD><TD><I>May Hold Securities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee, any Authenticating Agent, any
Agent or any other agent of any Issuer, any Guarantor or the Trustee, in its individual or any other capacity, may become the owner or
pledgee of Securities and, subject to Sections 6.8 and 6.13, may otherwise deal with the Issuers and the Guarantors with the same rights
it would have if it were not Trustee, Authenticating Agent, any Agent or such other agent.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.6</TD><TD><I>Money Held in Trust.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Money held by the Trustee or the Paying Agent
hereunder need not be segregated from other funds except to the extent required by law. Neither the Trustee nor the Paying Agent shall
be under any liability for interest on or investment of any money received by it hereunder except as otherwise agreed in writing with
the relevant Issuer or the Guarantors, as the case may be.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.7</TD><TD><I>Compensation and Reimbursement.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Issuers and the Guarantors jointly and
severally agree:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">to pay to the Trustee from time to time such compensation as shall be agreed in writing with the Issuers
for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust and any payments 60 days past due shall be made with interest at the Trustee&#8217;s prime lending rate):</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all expenses,
fees, disbursements and advances incurred in good faith or made by the Trustee in accordance with any provision of this Indenture (including
the compensation and the expenses, fees and disbursements of its agents and counsel), except to the extent any such expense, disbursement
or advance may be attributable to its gross negligence or willful misconduct, as determined by a final, non-appealable judgment of a court
of competent jurisdiction; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">to indemnify each of the Trustee and its agents for, and to defend and hold it harmless against, any and
all loss, liability, damage, claim or expense (including the compensation and the expenses and disbursements of its agents and counsel
and including taxes payable by it, other than taxes based upon, measured by or determined by the income of the Trustee or such agent),
arising out of or in connection with the acceptance or administration of the trust or trusts hereunder or the performance of its duties
hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Issuers, the Guarantors or
any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder,
except to the extent any such loss, liability or expense may be attributable to its gross negligence or willful misconduct, as determined
by a final, non-appealable judgment of a court of competent jurisdiction.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Trustee&#8221; for purposes of this
Section 6.7 shall include any predecessor Trustee, but the negligence or willful misconduct of any Trustee shall not affect the rights
or obligations of any other Trustee hereunder. As used in this Section 6.7, &#8220;Trustee&#8221; shall also include each Agent, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To secure the obligations under this Section
6.7, the Issuers, the Guarantors and the Holders acknowledge that pursuant to the trust arrangements hereunder, the Trustee has a first-priority
lien against all money or other property held by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">When the Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 5.1(e) or Section 5.1(f), the expenses (including charges and expenses
of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal
or state bankruptcy, insolvency or other similar law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The provisions of this Section 6.7 shall survive
the resignation or removal of the Trustee and the termination or expiration of this Indenture.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.8</TD><TD><I>Conflicting Interests.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the Trustee has or shall acquire a conflicting
interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and
in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the
Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture
with respect to Securities of more than one series.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.9</TD><TD><I>Corporate Trustee Required; Eligibility.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There shall at all times be one (and only one)
Trustee hereunder with respect to the Securities of each series, which may be the Trustee hereunder for Securities of one or more other
series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and
surplus of at least U.S.$50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements
of its supervising or examining authority, then for the purposes of this Section 6.9 and to the extent permitted by the Trust Indenture
Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in
accordance with the provisions of this Section 6.9, it shall resign promptly in the manner and with the effect hereinafter specified in
this Article.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.10</TD><TD><I>Resignation and Removal; Appointment of Successor.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No resignation or removal of the Trustee and
no appointment of a successor Trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor
Trustee in accordance with the applicable requirements of Section 6.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee and each Agent may resign at any
time, without liability for doing so, with respect to the Securities of one or more series by giving written notice thereof to the relevant
Issuer and the Guarantors. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered
to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction, at the expense of the relevant Issuer and the Guarantors, for the appointment of a successor Trustee with respect to the
Securities of such series.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee may be removed at any time with
respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities
of such series, delivered to the Trustee and to the relevant Issuer and the Guarantors. If the instrument of acceptance by a successor
Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal,
the Trustee being removed may petition, at the expense of the relevant Issuer and the Guarantors, any court of competent jurisdiction
for the appointment of a successor Trustee with respect to the Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If at any time:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Trustee shall fail to comply with Section 6.8 after written request therefor by the relevant Issuer
or any Guarantor or by any Holder who has been a bona fide Holder of a Security for at least six months;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request
therefor by the relevant Issuer or any Guarantor or by any such Holder; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent or a receiver
of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property
or affairs for the purpose of rehabilitation, conservation or liquidation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">then, in any such case, (A) the relevant Issuer
or any Guarantor by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.4, any Holder
who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee
or Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the Trustee shall resign, be removed or
become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one
or more series, the relevant Issuer and the Guarantors, by Board Resolutions, shall promptly appoint a successor Trustee or Trustees with
respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to
the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities
of any particular series) and shall comply with the applicable requirements of Section 6.1. If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series delivered to
the relevant Issuer, the Guarantors and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section 6.1, become the successor Trustee with respect to the Securities
of such series and to that extent supersede the successor Trustee appointed by the relevant Issuer and the Guarantors. If no successor
Trustee with respect to the Securities of any series shall have been so appointed by the relevant Issuer and the Guarantors or the Holders
and accepted appointment in the manner required by Section 6.1, any Holder who has been a bona fide Holder of a Security of such series
for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for
the appointment of a successor Trustee with respect to the Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer shall give notice or, having
provided the Registrar with the form of such notice, shall cause the Registrar to give notice, of each resignation and each removal of
the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of
any series to all Holders of Securities of such series in the manner provided in Section 1.7. Each notice shall include the name of the
successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.11</TD><TD><I>Acceptance of Appointment by Successor.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In case of the appointment hereunder of a successor
Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Issuers,
the Guarantors and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request of any Issuer, the Guarantors or the successor Trustee,
such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all
the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In case of the appointment hereunder of a successor
Trustee with respect to the Securities of one or more (but not all) series, the relevant Issuer, the Guarantors, the retiring Trustee
and each successor Trustee with respect to the Securities of one or more series shall execute and deliver a supplemental indenture hereto
wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable
to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee
is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the
retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee,
it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust
and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring
Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance,
shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates; but, on request of the relevant Issuer or any successor Trustee, such
retiring Trustee shall, upon payment of its charges, duly assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon request of any such successor Trustee,
the relevant Issuer and the Guarantors shall execute any and all instruments for more fully and certainly vesting in and confirming to
such successor Trustee all such rights, powers and trusts referred to in the preceding paragraphs, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No successor Trustee shall accept its appointment
unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.5in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.12</TD><TD><I>Merger, Conversion, Consolidation or Succession to Business.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any Person into which the Trustee may be merged
or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation or other entity succeeding to all or substantially all the corporate trust business of the Trustee,
shall be the successor of the Trustee hereunder; provided such Person shall be otherwise qualified and eligible under this Article, without
execution or filing of any paper or any further act on the part of any of the parties hereto. As soon as practicable, the successor Trustee
shall mail a notice of its succession to the relevant Issuer, the Guarantors and the Holders of the Securities then Outstanding. In case
any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee and itself authenticated such Securities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.13</TD><TD><I>Preferential Collection of Claims Against Issuer or Guarantors.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If and when the Trustee shall be or become
a creditor of an Issuer or a Guarantor (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the
Trust Indenture Act regarding the collection of claims against an Issuer or a Guarantor (or any such other obligor).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.14</TD><TD><I>Appointment of Authenticating Agent.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee with the consent of the relevant
Issuer and the Guarantors, and at the cost and expense of the relevant Issuer and the Guarantors, may appoint an Authenticating Agent
or Agents with respect to one or more series of Securities of the relevant Issuer which shall be authorized to act on behalf of the Trustee
to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof and Securities
so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated
by the Trustee hereunder. Pursuant to this authority, and with the consent of the Issuers and the Guarantors, the Trustee hereby appoints
Citibank, N.A. as Authenticating Agent for the Securities. Wherever reference is made in this Indenture to the authentication and delivery
of Securities by the Trustee or the Trustee&#8217;s certificate of authentication, except upon original issue or pursuant to Section 3.6,
such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate
of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the relevant
Issuer and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State
thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus
of not less than U.S.$50,000,000 and subject to supervision or examination by federal or State authority. If such Authenticating Agent
publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be the combined capital
and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign promptly in the manner and with the
effect specified in this Section 6.14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any corporation into which an Authenticating
Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation
to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent; provided such corporation shall be
otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">An Authenticating Agent may resign at any time
by giving written notice thereof to the Trustee and the Paying Agent, to the relevant Issuer and to the Guarantors. The Trustee may at
any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent, to the Paying
Agent, to the relevant Issuer and to each of the Guarantors. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 6.14, the Trustee
may appoint a successor Authenticating Agent which shall be acceptable to the relevant Issuer and (i) the Trustee shall give notice of
such appointment to the Paying Agent, and (ii) the Paying Agent shall give notice of such appointment in the manner provided in Section
1.5 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating
Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder
with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section 6.14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Issuers agree to pay to such Authenticating
Agent from time to time such compensation as shall be agreed in writing for its services under this Section 6.14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an appointment with respect to one or more
series is made pursuant to this Section 6.14, the Securities of such series may have endorsed thereon, in addition to the Trustee&#8217;s
certificate of authentication, an alternative certificate of authentication in the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[This is one of the Securities referred to
in the within-mentioned Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">WILMINGTON TRUST, NATIONAL ASSOCIATION,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">as Trustee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: justify">By: CITIBANK, N.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; padding-left: 0.25in; text-align: justify">as Authenticating Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: justify">By:
<I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; padding-left: 0.5in; text-align: justify"><I>Authorized Signatory]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If all of the Securities of a series may not
be originally issued at one time, and if the then current Authenticating Agent does not have an office capable of authenticating Securities
upon original issuance located in a Place of Payment where the relevant Issuer wishes to have Securities of such series authenticated
upon original issuance, the Trustee, if so requested by the relevant Issuer in writing or by facsimile (which writing need not comply
with Section 1.2 and need not be accompanied by an Opinion of Counsel), shall, at the cost and expense of the relevant Issuer and the
Guarantors, appoint in accordance with this Section an Authenticating Agent having an office in a Place of Payment designated by the relevant
Issuer with respect of such series of Securities.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.15</TD><TD><I>Trustee&#8217;s Duties Regarding Reductions of Capital.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Holder hereby consents to any Issuer or
any Guarantor applying to a court of competent jurisdiction for an order sanctioning a reduction in any of its share capital accounts
including, without limitation, by re-characterizing any sum standing to the credit of a share premium account as a distributable reserve
(a &#8220;Reduction of Capital&#8221;). Each Holder hereby agrees that the Trustee, on behalf of the Holder, is authorized and directed
to give its consent to any such Reduction of Capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>ARTICLE
Seven<BR>
<BR>
</B></FONT><B><FONT STYLE="text-transform: uppercase">Holders&#8217; Lists <FONT STYLE="font-family: Times New Roman, Times, Serif">a</FONT>nd
Reports <FONT STYLE="font-family: Times New Roman, Times, Serif">b</FONT>y Trustee <FONT STYLE="font-family: Times New Roman, Times, Serif">a</FONT>nd
Issuer <FONT STYLE="font-family: Times New Roman, Times, Serif">a</FONT>nd Guarantor</FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.1</TD><TD><I>Issuer to Furnish Trustee Names and Addresses of Holders.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer and the Guarantors shall
furnish to the Registrar, the Trustee, and the Agents and/or cause the Registrar to furnish to the Trustee and the Agents:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">semi-annually, not later than ten days after each Regular Record Date with respect to each series of Securities,
a list, in such form as the Trustee, the Registrar and the Agents may reasonably require, of the names and addresses of the Holders of
Outstanding Securities of such series as of such Regular Record Date, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">at such other times as the Trustee, the Registrar and/or the Agents may reasonably request in writing,
within 30 days after the receipt by the relevant Issuer or the Guarantors, as the case may be, of any such request, a list of similar
form and content as of a date not more than 15 days prior to the time such list is furnished,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">excluding from any such list names and addresses
each of the Trustee, the Registrar and the Agents have all received.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.2</TD><TD><I>Preservation of Information; Communications to Holders.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Registrar, the Trustee and the Agents shall
preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished
to the Registrar, the Trustee and the Agents, as applicable, as provided in Section 7.1, and in the case of the Registrar, the names and
addresses of Holders received by the Registrar (which may include the Trustee in its capacity as Registrar, but only if, and to the extent
the Trustee is then acting as Registrar). The Registrar, the Trustee and the Agents, as relevant, may destroy any list furnished to it
as provided in Section 7.1 upon receipt of a new list so furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The rights of Holders of the Securities of
any series to communicate with other Holders of Securities of such series with respect to their rights under this Indenture or under the
Securities or the Guarantees, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Every Holder of Securities, by receiving and
holding the same, agrees with the relevant Issuer, the Guarantors and the Registrar, the Trustee and the Agents that none of the relevant
Issuer, the Guarantors or the Registrar, the Trustee, the Agents nor any agent of any of them shall be held accountable by reason of any
disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act or other applicable law.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.3</TD><TD><I>Reports by Trustee.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Within 60 days of each June 30, beginning with
June 30, 2026, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be
required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A copy of each such report shall, at the time
of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission
and with the relevant Issuer. The relevant Issuer shall promptly notify the Trustee in writing when any Securities are listed on any stock
exchange and of any delisting thereof.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.4</TD><TD><I>Reports by Issuer and Guarantors.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The relevant Issuer and the Guarantors shall file with the Trustee (and the relevant Agent) and the Commission,
and transmit to Holders of Securities, such information, documents and other reports, and such summaries thereof, as may be required pursuant
to the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided that any such information, documents
or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee
within 15 days after the same is so required to be filed with the Commission pursuant to Section 10.13.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">With respect to the Securities of any series and for so long as the Securities of such series are Outstanding,
the relevant Issuer and the Guarantors shall furnish to the Trustee (and the relevant Agent) as soon as practicable, and the relevant
Issuer and the Guarantors shall promptly distribute to the Holders of Securities of such series, any other information as is specified
in a supplemental indenture or Board Resolution as contemplated by Section 3.1 for Securities of such series.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Delivery of such reports, information and documents
to the Trustee is for informational purposes only and the Trustee&#8217;s receipt of such shall not constitute constructive notice of
any information contained therein or determinable from information contained therein, including the relevant Issuer&#8217;s and/or the
Guarantors&#8217; compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers&#8217;
Certificates).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Eight<BR>
<BR>
Consolidation, Merger, Conveyance, Transfer or Lease</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.1</TD><TD><I>Issuer or Guarantors May Consolidate, Etc. Only on Certain Terms.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For so long as any of the Securities are outstanding,
none of the Issuers or any Guarantor may consolidate with or merge with or into any other Person or convey, transfer or lease all or substantially
all of its properties and assets to any Person, unless:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any Person formed by such consolidation or into which such Issuer or such Guarantor is merged or to whom
such Issuer or such Guarantor has conveyed, transferred or leased all or substantially all of its properties and assets is a corporation,
partnership, trust, company or other entity organized and validly existing under the laws of the United Kingdom or any jurisdiction thereof,
Jersey, any jurisdiction included from time to time in the European Union (or its successors), the United States, any state thereof or
the District of Columbia, and such Person expressly assumes, by a supplemental indenture, executed and delivered to the Trustee and the
Agents, the relevant Issuer&#8217;s or such Guarantor&#8217;s obligations on the Securities or the Guarantees, as the case may be, and
under this Indenture (including any obligation to pay any Additional Amounts and, in the case of a Guarantor, the performance or observance
of its Guarantee);</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in the case of such consolidation, merger, conveyance, transfer or lease by any Issuer or any Guarantor,
immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would
become an Event of Default, shall have happened and be continuing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any such Person, or any parent of such Person, shall expressly agree, by a supplemental indenture hereto,
executed and delivered to the Trustee and the Paying Agent, in form satisfactory to the Trustee and the Paying Agent, to indemnify the
Holder of each Security of the relevant Issuer against (i) any tax, duty, levy, assessment or governmental charge imposed on such Holder
or required to be withheld or deducted from any payment to such Holder as a consequence of such consolidation, merger, conveyance, transfer
or lease, and (ii) any costs or expenses of the act of such consolidation, merger, conveyance, transfer or lease; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">such Issuer or such Guarantor has delivered to the Trustee and the Paying Agent an Officers&#8217; Certificate
and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture
is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent
herein provided for relating to such transaction have been complied with.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the foregoing, this Section
8.1 shall not apply to any conveyance, transfer or lease of all or substantially all of the properties and assets of any Issuer or any
Guarantor to the extent that the Person to which such properties or assets are conveyed, transferred or leased is a Guarantor of the Securities
or becomes a Guarantor of the Securities concurrent with any such conveyance, transfer or lease of all or substantially all of such Issuer&#8217;s
or such Guarantor&#8217;s properties and assets, or is a wholly-owned Subsidiary of any such Guarantor or person who so becomes a Guarantor.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.2</TD><TD><I>Successor Substituted.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon any consolidation of an Issuer or a Guarantor
with, or merger of an Issuer or a Guarantor with or into, any other Person or any conveyance, transfer or lease of all or substantially
all of the properties and assets of an Issuer or a Guarantor, as the case may be, in accordance with Section 8.1, the successor Person
(the &#8220;Successor Person&#8221;) formed by such consolidation or with or into which such Issuer or such Guarantor is merged or to
which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of,
such Issuer or such Guarantor, as the case may be, under this Indenture with the same effect as if such Successor Person had been named
as such Issuer or such Guarantor, as the case may be, herein, and thereafter, except in the case of a lease, the predecessor Person shall
be relieved of all obligations and covenants under this Indenture and the Securities or the Guarantees, as the case may be.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Nine<BR>
<BR>
Supplemental Indentures</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.1</TD><TD><I>Supplemental Indentures without Consent of Holders.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Without the consent of any Holders, the Issuers
and the Guarantors when authorized by a Board Resolution of the Issuers and each Guarantor, as the case may be, and the Trustee and the
Agents, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee
and the Agents, for any of the following purposes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">to evidence the succession of another Person to an Issuer or a Guarantor and the assumption by any such
successor of the covenants of such Issuer or such Guarantor herein and in the Securities or Guarantees; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">to add to the covenants of an Issuer or a Guarantor or to surrender any right or power herein conferred
upon an Issuer or a Guarantor for the benefit of the Holders of all or any series of Securities (and if such covenants or surrenders are
to be for the benefit of less than all series of Securities, stating that such covenants or surrenders are expressly being included solely
for the benefit of such series); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">to add any additional Events of Default for the benefit of the Holders of all or any series of Securities
(and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional
Events of Default are expressly being included solely for the benefit of such series); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit
or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest
coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series
of Securities; provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created
prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the
Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">to modify the restrictions on the transferability of any Securities, and the procedures for resales and
other transfers of the Securities to reflect any change in applicable law or regulation (or the interpretation thereof) or to provide
alternative procedures in compliance with applicable law and practices relating to the resale or other transfer of restricted securities
generally; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">to secure the Securities pursuant to the requirements of Article Ten or otherwise; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">to establish the form or terms of Securities of any series as permitted by Sections 2.1 or 3.1; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect
to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.11; or</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent
with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture; provided
that such action pursuant to this clause (j) shall not adversely affect the interests of the Holders of Securities of any series in any
material respect; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">to amend this Indenture to conform the terms of any series of Securities with the description thereof
set forth in the related prospectus supplement, prospectus and any term sheet related thereto or set forth in the related offering memorandum
and any term sheet related thereto; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">to add one or more additional guarantors of the obligations under the Securities and this Indenture for
the benefit of all or any series of Securities; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">to amend this Indenture to conform to the provisions of the Trust Indenture Act as in effect at the time
of the execution of such supplemental indenture; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">to make any other change that does not adversely affect the interests of the Holders of the Securities
in any material respect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.2</TD><TD><I>Supplemental Indentures with Consent of Holders.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">With the consent of the Holders of a majority
in aggregate principal amount of the Outstanding Securities of each series affected by such supplemental indenture (including, without
limitation, consents obtained in connection with tender offers or exchange offers), by Act of said Holders delivered to the relevant Issuer,
the Guarantors and the Trustee, the relevant Issuer and the Guarantors, when authorized by Board Resolutions of, respectively, the relevant
Issuer and each Guarantor, and the Trustee and the Agents may enter into one or more supplemental indentures hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner
the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall,
without the consent of the Holder of each Outstanding Security affected thereby,</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">change the Stated Maturity of the principal of, or any installment of principal of or premium or interest
(including Additional Amounts, if any) on, any Security, or reduce the principal amount thereof or the rate of interest (or Additional
Amounts, if any) thereon or any premium payable upon the redemption or repurchase thereof, or change any obligation of the relevant Issuer
or the Guarantors to pay any Additional Amounts or reduce the amount of the principal of any other Security which would be due and payable
upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2, or modify in any way the relevant Issuer&#8217;s obligation
to pay Additional Amounts pursuant to Section 10.7 or change any Place of Payment where, currency in which, any Security or any premium
or interest (including Additional Amounts, if any) thereon is payable, or impair the right to institute a suit for the enforcement of
any such payment on or after the Stated Maturity thereof (or, in the case of redemption or repurchase, on or after the Redemption Date
or the Repurchase Date), or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of
whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance
with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">modify any of the provisions of this Section 9.2, Section 5.13 or Section 10.11, except to increase any
such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the
Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of
any Holder with respect to changes in the references to &#8220;the Trustee&#8221; and concomitant changes in this Section 9.2 and Section
10.11, or the deletion of this proviso, in accordance with the requirements of Sections 6.12 and 9.1(h), or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">change in any manner adverse to the interests of the Holders of Securities of any series the terms and
conditions of the obligations of the Guarantors under their Guarantees in respect of the full and punctual payment of the principal thereof
and any premium and interest thereon (and any Additional Amounts in respect thereof).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A supplemental indenture which changes or eliminates
any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision,
shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">It shall not be necessary for any Act of Holders
under this Section 9.2 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall
approve the substance thereof.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.3</TD><TD><I>Execution of Supplemental Indentures.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Section 9 or the modifications thereby of the trusts created by this Indenture,
the Trustee and the Paying Agent shall receive, in addition to the documents required under Section 1.2, and (subject to Sections 6.1
and 6.3) shall be fully protected in conclusively relying upon (without further investigation), an Opinion of Counsel (which may be an
opinion pertaining to New York law only and which may be subject to any conditions and assumptions specified in such Opinion of Counsel)
stating that the execution of such supplemental indenture is authorized or permitted by this Indenture, that such supplemental indenture
is the legal, valid and binding obligation of the relevant Issuer and the Guarantors, and that all conditions precedent have been complied
with. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee&#8217;s own
rights, duties or immunities under this Indenture or otherwise.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.4</TD><TD><I>Effect of Supplemental Indentures.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon the execution of any supplemental indenture
under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby, except to the extent, if any, therein expressly provided otherwise.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.5</TD><TD><I>Conformity with Trust Indenture Act.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subsequent to the qualification of this Indenture
under the Trust Indenture Act, every supplemental indenture executed pursuant to this Article Nine shall conform to the requirements of
the Trust Indenture Act.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.6</TD><TD><I>Reference in Securities to Supplemental Indentures.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Securities of any series authenticated and
delivered after the execution of any supplemental indenture pursuant to this Article Nine may, and shall if required by the Trustee (or
relevant Agent), bear a notation in form approved by the Trustee (or relevant Agent) as to any matter provided for in such supplemental
indenture. If the relevant Issuer and the Guarantors shall so determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the relevant Issuer and the Guarantors, to any such supplemental indenture may be prepared and executed by
the relevant Issuer and such Securities may be authenticated and delivered by the Trustee (or relevant Agent) in exchange for Outstanding
Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Ten<BR>
<BR>
Covenants</B></FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.1</TD><TD><I>Payment of Principal, Premium and Interest.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Issuer covenants and agrees for the benefit
of each series of Securities of such Issuer that it shall duly and punctually pay the principal of, premium, if any, and interest on the
Securities of that series in accordance with the terms of the Securities and this Indenture.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.2</TD><TD><I>Maintenance of Office or Agency.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">With respect to any Global Security, and except
as otherwise may be specified for such Global Security as contemplated by Section 3.1, the Corporate Trust Office of the Paying Agent
shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or
exchange, or where successor Securities may be delivered in exchange therefor; provided, however, that any such payment, presentation,
surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have
been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">With respect to any securities that are not
in the form of a Global Security, the relevant Issuer shall maintain in each Place of Payment, including, without limitation, in the Borough
of Manhattan, The City of New York, an office or agency where Securities may be presented or surrendered for payment, where Securities
may be surrendered for registration of transfer or exchange and where notices and demands to or upon the relevant Issuer in respect of
the Securities and this Indenture may be served. The relevant Issuer shall give prompt written notice to the Trustee and the Agents of
the location, and any change in the location, of such office or agency. If at any time the relevant Issuer shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee and the Agents with the address thereof, (A) such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the Registrar , and the relevant Issuer hereby appoints the
Registrar as its agent to receive all such presentations, surrenders, notices and demands, and (B) in the case of notices and demands,
shall also be made or served at the Corporate Trust Office of the Trustee, and the relevant Issuer hereby appoints the Trustee as its
agent to receive all such notices and demands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer may also from time to time
designate one or more offices or agencies where the Securities of one or more series of the relevant Issuer may be presented or surrendered
for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission
shall in any manner relieve the relevant Issuer of its obligation to maintain an office or agency in each Place of Payment for Securities
of any series for such purposes. The relevant Issuer hereby appoints Citibank, N.A. as such agent. The relevant Issuer shall give prompt
written notice to the Trustee and the Agents of any such designation or rescission and of any change in the location of any such other
office or agency.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Guarantors shall maintain in each Place
of Payment for any series of Securities to which their Guarantees apply an office or agency where Securities of such series may be presented
or surrendered for payment pursuant to any Guarantee and where notices and demands to or upon the Guarantors in respect of any Guarantee
and this Indenture may be served. The Guarantors shall give prompt written notice to the Trustee and the Agents of the location, and any
change in the location, of such office or agency. If at any time the Guarantors shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee and the Agents with the address thereof, (A) such presentations, surrenders, notices and demands
may be made or served at the Corporate Trust Office of the Registrar, and the Guarantors hereby appoint the Registrar as their agent to
receive all such presentations, surrenders, notices and demands and (B) in the case of such notices and demands, shall also be made or
served at the Corporate Trust Office of the Trustee, and the Guarantors hereby appoint the Trustee as their agent to receive all such
notices and demands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Guarantors may also from time to time designate
one or more other offices or agencies where the Securities of one or more series to which their Guarantees apply may be presented or surrendered
for such purpose or where such notices or demands may be served and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve any Guarantor of its obligation to maintain an office or agency in
each Place of Payment for Securities of any series for such purposes. The Guarantors hereby appoint Citibank, N.A. as such agent. The
Guarantors shall give prompt written notice to the Trustee and the Agents of any such designation or rescission and of any change in the
location of any such other office or agency.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.3</TD><TD><I>Money for Security Payments to be Held in Trust.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If any Issuer or any Guarantor shall at any
time act as its own Paying Agent with respect to any series of Securities, it shall, on or before each due date of the principal of, premium,
if any, or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto
a sum sufficient to pay the principal, premium, if any, and interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided and shall promptly notify the Trustee and the Paying Agent in writing of its action or failure
so to act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Whenever an Issuer shall have one or more Paying
Agents for any series of Securities, it shall, no later than 10:00 a.m. New York City time on each due date of the principal of, premium,
if any, or interest or Additional Amounts on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount,
such sum to be held as provided in the Trust Indenture Act for the benefit of the Persons entitled to such principal or any premium or
interest, and (unless such Paying Agent is the Trustee) the relevant Issuer shall promptly notify the Trustee in writing of its action
or failure so to act (for the avoidance of doubt such deposit(s) may be with the Trustee if, and only if, the Trustee has agreed in writing
to act as the Paying Agent for such series of Securities). The relevant Issuer shall confirm to the Paying Agent by 10:00&nbsp;a.m. (local
time in the city of the Paying Agent&#8217;s specified office) on the second Business Day in the city of the Paying Agent&#8217;s specified
office before the due date for any such payment that irrevocable instructions have been issued. If the Paying Agent determines in its
absolute discretion that payment in accordance with this Section 10.3 is required to be made earlier, it shall provide the relevant Issuer
with no less than 21 days&#8217; prior notice in writing of such requirement. If the Paying Agent pays out any amount due under the terms
of the Securities on or after the due date therefor on the assumption that the corresponding payment for such amount has been or will
be made by the relevant Issuer and such payment has in fact not been so made by the relevant Issuer prior to the time that the Paying
Agent pays such amount, then the relevant Issuer, on demand, shall reimburse the Paying Agent for such amount and pay interest to the
Paying Agent on such amount from the date on which it is paid out to the date of reimbursement at a rate per annum equal to the cost to
the Paying Agent of funding the amount paid out as certified by the Paying Agent and expressed as a rate per annum. Nothing in this Section
10.3 shall require the Paying Agent to pay out any amount due under the terms of the Securities prior to receiving payment thereof in
immediately available funds from the relevant Issuer or any Guarantor.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Paying Agent shall be entitled to make
payments net of any taxes or other sums required by any applicable law to be withheld or deducted. Notwithstanding the foregoing, any
such withholding or deduction is without prejudice to the obligations of each of the relevant Issuer and the Guarantors to make payments
in full of all amounts due and payable under the terms of this Indenture, any supplemental indenture and the Securities of any series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Issuer and the Guarantors hereby appoint
Citibank, N.A. as initial Paying Agent for the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer shall cause each Paying
Agent for any series of Securities that is not a party to this Indenture to execute and deliver to the Trustee an instrument in which
such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent shall (1) comply with
the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the relevant
Issuer or any Guarantor (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities
of that series or any Guarantee, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such
Paying Agent for payment in respect of the Securities of that series or the Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer may at any time, for the
purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Issuer Order direct the Paying
Agent to pay, to the Trustee all sums held in trust by the relevant Issuer or such Paying Agent, such sums to be held by the Trustee upon
the same trusts as those upon which such sums were held by the relevant Issuer or such Paying Agent; and, upon such payment by the Paying
Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any money deposited with the Trustee or the
Paying Agent, or then held by the relevant Issuer or any Guarantor, in trust for the payment of the principal of, premium, if any, or
interest or Additional Amounts on any Security of any series and remaining unclaimed for two years after such principal, premium, interest
or Additional Amounts has become due and payable shall be paid to the relevant Issuer or to such Guarantor by the Trustee or such Paying
Agent, as applicable, or (if then held by such Issuer or such Guarantor) shall be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to the relevant Issuer or the Guarantors for payment thereof, and all liability
of the Trustee and such Paying Agent, as applicable with respect to such trust money, and all liability of the relevant Issuer or such
Guarantor as trustee thereof, shall thereupon cease.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.4</TD><TD><I>Statement by Officers as to Default.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Issuer and the Guarantors while any such
Securities of any series issued hereunder are outstanding shall deliver to the Trustee, within 120 days after the end of each fiscal year
ending after the date hereof, an Officers&#8217; Certificate (one of which officers signing such certificate shall be, for the purposes
of this Section 10.4, the principal executive officer, the principal financial officer or the principal accounting officer of the Issuer
and the Guarantors), stating whether or not to the knowledge of the signers thereof the relevant Issuer(s) and the Guarantors are in compliance
with all conditions and covenants under this Indenture (without regard to any period of grace or requirement of notice provided hereunder)
and if any Issuer or any Guarantor, as the case may be, shall be in default, specifying all such defaults and the nature and status thereof
of which they may have knowledge.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer and the Guarantors shall
deliver to the Trustee, as soon as possible and in any event within 10 days after the relevant Issuer or any Guarantor becomes aware that
a default or an Event of Default with respect to any series of Securities of such Issuer that are outstanding, or an event that, with
notice or the lapse of time or both, would constitute an Event of Default thereof, as the case may be, has occurred and is continuing,
an Officers&#8217; Certificate setting forth the details of such Event of Default or default and the action which the relevant Issuer
proposes to take with respect thereto.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.5</TD><TD><I>Existence.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to Article 8, the Issuers and the Guarantors
each shall do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights (charter and
statutory) and franchises; provided, however, that the Issuers and each Guarantor shall not be required to preserve any such right or
franchise if its respective Board of Directors shall determine in a Board Resolution that the preservation thereof is no longer desirable
in the conduct of the business of such Issuer or such Guarantor and that the loss thereof is not disadvantageous in any material respect
to the Holders.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.6</TD><TD><I>Payment of Taxes and Other Claims.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Issuers and the Guarantors shall pay or
discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges
levied or imposed upon the Issuers or the Guarantors or upon the income, profits or property of the Issuers or the Guarantors, and (2)
all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon the property of the Issuers or the
Guarantors; provided, however, that the Issuers and the Guarantors shall not be required to pay or discharge or cause to be paid or discharged
any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings
and for which adequate reserves have been established.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.7</TD><TD><I>Additional Amounts.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All payments in respect of the Securities and
the Guarantees shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, levies, assessments
or governmental charges of whatever nature (&#8220;Taxes&#8221;) imposed or levied by or on behalf of (i) the United States and any other
jurisdiction (or any political subdivision or taxing authority thereof or therein) in which the relevant Issuer or any of the Guarantors
is incorporated or organized or resident (or deemed for tax purposes to be resident) (including, for the avoidance of doubt, any jurisdiction
in which a successor to the relevant Issuer or any Guarantor is incorporated, organized or resident (or deemed for tax purposes to be
resident), or (ii) the jurisdiction (or any political subdivision or taxing authority thereof or therein) from or through which a payment
on the Securities or the Guarantees is made by or on behalf of the relevant Issuer or a Guarantor (each, an &#8220;Applicable Taxing Jurisdiction&#8221;),
unless such Taxes are required by the Applicable Taxing Jurisdiction to be withheld or deducted. In that event, the relevant Issuer or
the Guarantors will pay by way of additional interest on the Securities such additional amounts of, or in respect of, principal, premium,
if any, and interest (&#8220;Additional Amounts&#8221;) as will result (after deduction of such Taxes and any additional Taxes payable
in respect of such Additional Amounts) in the payment to each Holder of the Securities of the amounts that would have been payable in
respect of such Security or Guarantee had no such withholding or deduction been required, except that no Additional Amounts shall be so
payable for or on account of:</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any Taxes that would not have been imposed but for the fact that such Holder:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">is or was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment
or was physically present in, the Applicable Taxing Jurisdiction or otherwise had some connection with the Applicable Taxing Jurisdiction
other than the mere ownership of, or receipt of payment under, such Security or Guarantee;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">presented (if presentation is required) such Security or Guarantee, as the case may be, more than thirty
(30) days after the date on which the payment in respect of such Security first became due and payable or provided for, whichever is later,
except to the extent that the Holder would have been entitled to such Additional Amounts if it had presented such Security or Guarantee
for payment on any day within such period of thirty (30) days; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">is or was a personal holding company, a passive foreign investment company or a controlled foreign corporation
for U.S. federal income tax purposes or a corporation that has accumulated earnings to avoid U.S. federal income tax;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any estate, inheritance, gift, sale, transfer, personal property or similar taxes;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any Taxes that are payable otherwise than by withholding or deduction from payments of, or in respect
of, principal, premium, if any, or interest on such Securities or Guarantee, as the case may be;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">any Taxes that are imposed or withheld by reason of (i) the holder or beneficial owner not delivering
a valid, properly completed, U.S. Internal Revenue Service Form W-8 or W-9 or any successor or substitute form to any withholding agent
or any other person, or (ii) the failure to comply by the Holder or the beneficial owner of the Security with a request from the relevant
Issuer or any Guarantor addressed to the Holder and received by such Holder at least thirty (30) days prior to the first payment date
with respect to which such information is required (a) to provide any other information concerning the nationality, residence or identity
of the Holder or such beneficial owner or (b) to make any other declaration or other similar claim or satisfy any other information or
reporting requirement, which, in the case of (ii)(a) or (ii)(b), is required or imposed by a statute, treaty, regulation or administrative
practice of the Applicable Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental
charge;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">any Taxes payable pursuant to an agreement described in Section 1471(b) of the Code or otherwise imposed
pursuant to Sections 1471 through 1474 of the Code, any regulations or agreements thereunder, official interpretations thereof, or any
law implementing an intergovernmental approach thereto;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">any U.S. federal withholding Taxes imposed as a result of the Holder or beneficial owner of the Security:
(i) being a controlled foreign corporation for U.S. federal income tax purposes related to the relevant Issuer or Guarantor; (ii) being
or having been a &#8220;10-percent shareholder&#8221; of the Guarantor or the relevant Issuer as defined in Section 871(h)(3) of the Code;
or (iii) being or being treated as a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into
in the ordinary course of its trade or business; or</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">any combination of items (a), (b), (c), (d), (e) and (f);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">nor shall Additional Amounts be paid with respect
to any payment of the principal of, premium, if any, or interest on any such Security or Guarantee to any Holder who is a fiduciary or
partnership or other than the sole beneficial owner of such payment to the extent such payment would be required by the laws of the Applicable
Taxing Jurisdiction to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member
of such partnership or a beneficial owner who would not have been entitled to such Additional Amounts had it been the Holder of the Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Whenever in this Indenture there is mentioned,
in any context, the payment in respect of the Securities or the Guarantee, such mention shall be deemed to include mention of the payment
of Additional Amounts provided for in this Section 10.7 to the extent that, in such context, Additional Amounts are, were or would be
payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of Additional Amounts in any
provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not
made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer or the Guarantors shall
(i) make any required withholding or deduction and (ii) remit the full amount deducted or withheld to the Applicable Taxing Jurisdiction
in accordance with applicable law. The relevant Issuer or the Guarantors shall use all reasonable efforts to obtain certified copies of
tax receipts evidencing the payment of any taxes so deducted or withheld from each Applicable Taxing Jurisdiction imposing such taxes
and will provide such certified copies to each Holder. The relevant Issuer or the Guarantors shall attach to each certified copy a certificate
stating (x) that the amount of withholding taxes evidenced by the certified copy was paid in connection with payments in respect of the
principal amount of Securities then outstanding and (y) the amount of such withholding taxes paid per U.S.$1,000 principal amount of the
Securities. Copies of such documentation will be available for inspection during ordinary business hours at the office of the Paying Agent
by the Holders of the Securities upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">At least 30 days prior to each date on which
any payment under or with respect to the Securities of a series or the related Guarantee is due and payable (unless such obligation to
pay Additional Amounts arises shortly before or after the 30th day prior to such date, in which case it shall be promptly thereafter),
if the relevant Issuer or the Guarantors shall be obligated to pay Additional Amounts with respect to such payment, the relevant Issuer
or the Guarantors shall deliver to the Trustee and the Paying Agent an Officers&#8217; Certificate stating the fact that such Additional
Amounts will be payable, the amounts so payable and will set forth such other information necessary to enable the Paying Agent to pay
such Additional Amounts to Holders on the payment date. Each such Officers&#8217; Certificate shall be relied upon until receipt of a
further Officers&#8217; Certificate addressing such matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the relevant Issuer or any Guarantor conducts
business in any jurisdiction (an &#8220;Additional Taxing Jurisdiction&#8221;) other than an Applicable Taxing Jurisdiction and, as a
result, is required by the law of such Additional Taxing Jurisdiction to deduct or withhold any amount on account of taxes imposed by
such Additional Taxing Jurisdiction from payments under the Securities or the Guarantees, as the case may be, which would not have been
required to be so deducted or withheld but for such conduct of business in such Additional Taxing Jurisdiction, the Additional Amounts
provision described above shall be considered to apply to such Holders as if references in such provision to &#8220;taxes&#8221; included
taxes imposed by way of deduction or withholding by any such Additional Taxing Jurisdiction (or any political subdivision thereof or taxing
authority therein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer or the Guarantors shall
pay any present or future stamp, court or documentary taxes, or any other excise or property taxes, charges or similar levies which arise
in any jurisdiction from the execution, delivery or registration of any Security or any other document or instrument referred to therein
(other than a transfer of the Securities), or the receipt of any payments with respect to the Securities or the Guarantees, excluding
any such taxes, charges or similar levies imposed by any jurisdiction outside Luxembourg, the United States, the United Kingdom, Jersey,
Ireland or any jurisdiction in which a Paying Agent is located, other than those resulting from, or required to be paid in connection
with, the enforcement of the Securities, the Guarantees or any other such document or instrument following the occurrence of any Event
of Default with respect to the Securities.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The foregoing obligations will survive any
termination, defeasance or discharge of this Indenture and will apply mutatis mutandis to any jurisdiction in which any successor to any
Issuer or any Guarantor is organized or any political subdivision or taxing authority or agency thereof or therein.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.8</TD><TD><I>Additional Guarantees.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If any direct or indirect parent of WPP plc,
or any of the subsidiaries of WPP plc that is not a Guarantor, or any other subsidiary of any Parent Guarantor, becomes a guarantor of
any Financial Indebtedness, then such guaranteeing entity shall:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">execute and deliver to the Trustee and the Paying Agent a supplemental indenture in form reasonably satisfactory
to the Trustee and the Paying Agent pursuant to which such entity shall become a Guarantor of the debt securities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">deliver to the Trustee and the Paying Agent, in addition to the documents required under Section 1.2,
and (subject to Sections 6.1 and 6.3), an opinion of counsel (which may contain customary exceptions) that such supplemental indenture
and guarantee have been duly authorized, executed and delivered by such guaranteeing entity and constitute legal, valid, binding and enforceable
obligations of such guaranteeing entity. The Trustee and the Paying Agent shall be fully protected in relying upon the items delivered
pursuant to this Section 10.8(b).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.9</TD><TD><I>Limitations on Security Interests.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">For so long as any Securities remain Outstanding under this Indenture, WPP plc shall not, and shall not
permit its Restricted Subsidiaries to create, suffer or permit to subsist any Security Interest (except for Permitted Security Interests)
on the whole or any part of their respective Property (whether owned as of the date of this Indenture or thereafter acquired) without
making effective provision whereby all the Securities shall be directly secured equally and ratably with the obligation secured by such
Security Interest.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If, as provided in Section 10.8, a direct or indirect parent of WPP plc becomes a Guarantor of the Securities,
then Section 10.9(a) shall cease to have effect and the covenant set forth in this Section 10.9(b) shall become operative and thereafter,
for so long as any Securities remain Outstanding under this Indenture, the Parent Guarantor shall not, and shall not permit its Restricted
Subsidiaries to create, suffer or permit to subsist any Security Interest (except for Permitted Security Interests) on the whole or any
part of their respective Property (whether owned as of the date of this Indenture or thereafter acquired) without making effective provision
whereby all the Securities shall be directly secured equally and ratably with the obligation secured by such Security Interest.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.10</TD><TD><I>Limitation on Sale and Leaseback.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">For so long as any Securities remain Outstanding under this Indenture, WPP plc will not, and will not
permit its Restricted Subsidiaries to, enter into any arrangement with any bank, insurance company or other lender or investor (not including
WPP plc or any of its Subsidiaries), or to which any such lender or investor is a party, providing for the leasing by WPP plc or such
Subsidiary for a period, including renewals, in excess of three years of any assets that have been owned by WPP plc or any Restricted
Subsidiary for more than 270 days and which have been or are to be sold or transferred by WPP plc or any Restricted Subsidiary to such
lender or investor or, as a part of such arrangement, to any Person to whom funds have been or are to be advanced by such lender or investor
on the security of such assets (a &#8220;Sale and Leaseback Transaction&#8221;) unless WPP plc or such Restricted Subsidiary, applies
within one year after the sale or transfer will have been made by WPP plc or such Restricted Subsidiary, an amount equal to the net proceeds
of the sale of the assets sold and leased back pursuant to such arrangement (i) to the retirement of Indebtedness incurred, assumed or
guaranteed by WPP plc or any of its Subsidiaries which by its terms matures at, or is extendible or renewable at the option of the obligor
to, a date more than 12 months after the date of incurring, assuming or guaranteeing such Indebtedness or (ii) to investment in any of
WPP plc&#8217;s assets or the assets of any of its Restricted Subsidiaries (a &#8220;Permitted Sale and Leaseback Transaction&#8221;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the foregoing, WPP plc or any
of its Restricted Subsidiaries may enter into sale and leaseback transactions with respect to their respective assets in addition to those
permitted above; provided, however, that at the time of entering into such sale and leaseback transactions and after giving effect thereto,
WPP plc or the Restricted Subsidiary would be entitled pursuant to any Permitted Security Interests to create, suffer or permit to subsist
a Security Interest on such assets without making effective provision whereby all the Securities shall be directly secured equally and
ratably with such Indebtedness.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If, as provided in Section 10.8, a direct or indirect parent of WPP plc becomes a Guarantor of the Securities,
then Section 10.10(a) shall cease to have effect and it shall be replaced by the covenant set forth in this Section 10.10(b) providing
that, for so long as any Securities remain Outstanding under this Indenture, the Parent Guarantor will not, and it will not permit any
of its Restricted Subsidiaries to, enter into any arrangement with any bank, insurance company or other lender or investor (not including
the Parent Guarantor or any of its Subsidiaries), or to which any such lender or investor is a party, providing for the leasing by the
Parent Guarantor or any such Restricted Subsidiary for a period, including renewals, in excess of three years of any assets which have
been owned by the Parent Guarantor or any of its Restricted Subsidiaries for more than 270 days and which have been or are to be sold
or transferred by the Parent Guarantor or any of its Restricted Subsidiaries to such lender or investor or, as a part of such arrangement,
to any Person to whom funds have been or are to be advanced by such lender or investor on the security of such assets (a &#8220;sale and
leaseback transaction&#8221;) unless the Parent Guarantor applies or such Restricted Subsidiary, within one year after the sale or transfer
will have been made by the Parent Guarantor or such Restricted Subsidiary, applies an amount equal to the net proceeds of the sale of
the assets sold and leased back pursuant to such arrangement (i) to the retirement of Indebtedness incurred, assumed or guaranteed by
the Parent Guarantor or any of its Subsidiaries which by its terms matures at, or is extendible or renewable at the option of the obligor
to, a date more than 12 months after the date of incurring, assuming or guaranteeing such Indebtedness or (ii) to investment in any assets
of the Parent Guarantor or any of its Subsidiaries (a &#8220;Permitted Sale and Leaseback Transaction&#8221;).</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the foregoing, the Parent Guarantor
or any of its Restricted Subsidiaries may enter into sale and leaseback transactions with respect to its or their respective assets in
addition to those permitted above; provided, however, that at the time of entering into such sale and leaseback transactions and after
giving effect thereto, the Parent Guarantor or the Restricted Subsidiary would be entitled pursuant to any Permitted Security Interests
to create, suffer or permit to subsist a Security Interest on such assets without making effective provision whereby all the Securities
shall be directly secured equally and ratably with such Indebtedness.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.11</TD><TD><I>Waiver of Certain Covenants.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Except as otherwise established as contemplated
by Section 3.1 for the Securities of any series, any relevant Issuer and any Guarantor may, with respect to the Securities of such series
of the relevant Issuer, omit in any particular instance to comply with any term, provision or condition set forth in any covenant adopted
by a supplemental indenture under Sections 3.1(s), 9.1(b) or 9.1(g) for the benefit of the Holders of such series, or in any of Sections
10.5, 10.6, 10.9 or 10.10, if before the time for such compliance the Holders of at least a majority in aggregate principal amount of
the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive
compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except
to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the relevant Issuer and the Guarantors
and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.12</TD><TD><I>Indemnification of Judgment Currency.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Issuers and the Guarantors shall, jointly
and severally, indemnify the Trustee, the Agents, and any Holder of a Security against any loss incurred by the Trustee, the Agents, or
such Holder, as the case may be, as a result of any judgment or order being given or made for any amount due under this Indenture or such
Security and being expressed and paid in a currency (the &#8220;Judgment Currency&#8221;) other than Dollars, and as a result of any variation
between (i) the rate of exchange at which the Dollar amount is converted into the Judgment Currency for the purpose of such judgment or
order and (ii) the spot rate of exchange in The City of New York at which the Trustee, the Agents, or such Holder, as the case may be,
on the date of payment of such judgment or order is able to purchase Dollars with the amount of the Judgment Currency actually received
by the Trustee, the Agents, or such Holder. Notwithstanding the preceding sentence of this Section 10.12, in the event that the amount
of Dollars purchased by any Holder as a result of such indemnification exceeds the amount originally to be paid to such Holder, such Holder
shall reimburse such excess to the relevant Issuer or the Guarantors, as the case may be. The foregoing indemnity shall constitute a separate
and independent obligation of each Issuer and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid.
The term &#8220;spot rate of exchange&#8221; shall include any premiums and costs of exchange payable in connection with the purchase
of, or conversion into, Dollars.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.13</TD><TD><I>Provision of Exchange Act Reports and Other Information.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For so long as any of the Securities are outstanding
and WPP plc or any successor Parent Guarantor is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, WPP
plc shall be deemed to have satisfied its reporting obligations under this Section 10.13 by filing or furnishing annual, quarterly and
other reports that it is required to file with or furnish to the Commission, including its annual reports on Form 20-F and its reports
on Form 6-K or copies of the information included in such reports on Form 6-K (or its annual reports on Form 10-K, quarterly reports on
Form 10-Q and current reports on Form 8-K, if the reporting person is not a foreign private issuer, as defined in Rule 3b-4 under the
Exchange Act). WPP plc or any successor Parent Guarantor shall not be required to furnish such reports separately to the Trustee, the
Agents or holders, provided that such reports are publicly available on the Commission&#8217;s EDGAR System (or any successor system).</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For so long as the Securities of a series are
listed on a securities exchange, the relevant Issuer or the Parent Guarantor, if any, will make any reports or other information supplied
to the Trustee pursuant to this Section available at the office of the relevant Issuer&#8217;s paying agent or transfer agent in the jurisdiction
where such exchange is located and will notify such exchange of the occurrence of any Event of Default and, prior to publication of notice
of such Event of Default in the jurisdiction where such exchange is located, submit a draft of the notice to the exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In any case, with regard to the Trustee and
the Agents, such reports, information and documents are for informational purposes only and the Trustee&#8217;s and the Agents&#8217;
access to, or receipt of, such shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including any Issuer&#8217;s and/or any Guarantor&#8217;s compliance with any of its respective covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officers&#8217; Certificates).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Eleven<BR>
<BR>
Redemption of Securities</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.1</TD><TD><I>Applicability of Section.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Securities of any series that are redeemable
before their Stated Maturity shall be redeemable in accordance with their terms established as contemplated by Section 3.1 and (except
as otherwise established as contemplated by Section 3.1 for the Securities of such series) in accordance with this Article.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.2</TD><TD><I>Election to Redeem; Notice to Trustee and Relevant Agents.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The election of the relevant Issuer to redeem
any Securities of any series of the relevant Issuer shall be evidenced by a Board Resolution of the relevant Issuer. In case of any redemption
at the election of the relevant Issuer of any of the Securities of any series of the relevant Issuer (including any such redemption affecting
only a single Security), the relevant Issuer shall, at least 60&nbsp;days prior to the Redemption Date fixed by the relevant Issuer (unless
a shorter notice shall be satisfactory to the Trustee and the relevant Agents), notify the Trustee and the relevant Agents of such Redemption
Date, of the Redemption Price, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of
the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities established as contemplated by Section 3.1, the relevant Issuer shall furnish the Trustee and
the relevant Agents with an Officers&#8217; Certificate evidencing compliance with such restriction.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.3</TD><TD><I>Selection by the Relevant Agents of Securities to Be Redeemed.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If less than all the Securities of any series
are to be redeemed (unless all the Securities of such series and of a specified tenor are to be redeemed or unless such redemption affects
only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date
by the Registrar or Paying Agent, as applicable, from the Outstanding Securities of such series not previously called for redemption in
accordance with the procedures of DTC (or such other depositary) or by lot and which may provide for the selection for redemption of a
portion of the principal amount of any Security of such series; provided that the unredeemed portion of the principal of any Security
shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than
all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security),
the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Registrar or Paying
Agent, as applicable, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance
with the preceding sentence (i.e., in accordance with the procedures of DTC (or such other depositary) or by lot).</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Registrar or Paying Agent, as applicable,
shall promptly notify the relevant Issuer in writing of the Securities selected for redemption as aforesaid and, in case of any Securities
selected for partial redemption as aforesaid, the principal amount thereof to be redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The provisions of the two preceding paragraphs
shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in
part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized
denomination (which shall not be less than the minimum authorized denomination) for such Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For all purposes of this Indenture, unless
the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed
or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.4</TD><TD><I>Notice of Redemption.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notice of redemption shall be given by first-class
mail, prepaid postage, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be
redeemed, at his address appearing in the Security Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All notices of redemption shall state:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Redemption Date,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Redemption Price and accrued and unpaid interest, if any,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">if less than all the Outstanding Securities of any series consisting of more than a single Security are
to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular
Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single Security are to be redeemed,
the principal amount of the particular Security to be redeemed,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">that on the Redemption Date, the Redemption Price (together with any accrued and unpaid interest payable
to, but excluding the Redemption Date) will become due and payable upon each such Security to be redeemed and, if applicable, that interest
thereon will cease to accrue on and after said date,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the place or places where such Securities are to be surrendered for payment of the Redemption Price, and
accrued and unpaid interest, if any, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the &#8220;CUSIP&#8221; or &#8220;ISIN&#8221; numbers, if any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notice of redemption of Securities to be redeemed
at the election of the relevant Issuer shall be given by the relevant Issuer or, at the relevant Issuer&#8217;s written request given
to the Paying Agent (with a copy to the Trustee) at least 15 days before the date such notice is to be given to the Holders (unless a
shorter period is agreed to by the Trustee and/or Paying Agent), by the Paying Agent in the name and at the expense of the relevant Issuer,
and shall be irrevocable.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.5</TD><TD><I>Deposit of Redemption Price.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On or before 10:00 a.m., New York City time,
on any Redemption Date, the relevant Issuer or the Guarantors shall deposit with the Paying Agent (or, if the relevant Issuer is acting
as its own Paying Agent, it shall segregate and hold in trust as provided in Section 10.3) an amount of money sufficient to pay the Redemption
Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued and unpaid interest on, all the Securities which
are to be redeemed on that date to, but excluding, the Redemption Date. The relevant Issuer shall confirm to the Paying Agent by 10:00
a.m. (local time in the city of the Paying Agent&#8217;s specified office) on the second Business Day in the city of the Paying Agent&#8217;s
specified office before the due date for any such payment that irrevocable instructions have been issued. If the Paying Agent determines
in its absolute discretion that payment in accordance with this Section 11.5 is required to be made earlier, it shall provide the relevant
Issuer with no less than 21 days&#8217; prior notice in writing of such requirement.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.6</TD><TD><I>Securities Payable on Redemption Date.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notice of redemption having been given as aforesaid,
the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price applicable thereto, and
from and after such date (unless the relevant Issuer shall default in the payment of the Redemption Price and accrued and unpaid interest)
such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, such
Security shall be paid by the relevant Issuer or the Guarantors at the Redemption Price, together with accrued and unpaid interest to,
but excluding, the Redemption Date; provided, however, that installments of interest whose Stated Maturity is on or prior to the Redemption
Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business
on the relevant Record Date according to their terms and the provisions of Section 3.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If any Security called for redemption shall
not be so paid upon surrender thereof for redemption, the principal and any Redemption Price shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the terms of the Security established as contemplated by Section 3.1.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.7</TD><TD><I>Securities Redeemed in Part.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Any Security which is to be redeemed only in
part shall be surrendered at a Place of Payment therefor (with, if the relevant Issuer or the Paying Agent, as applicable, so requires,
due endorsement by, or a written instrument of transfer in form satisfactory to the relevant Issuer and the Paying Agent, as applicable,
duly executed by the Holder thereof or his attorney duly authorized in writing), and the relevant Issuer shall execute, and the Authenticating
Agent shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series
and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange
for the unredeemed portion of the principal of the Security so surrendered.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.8</TD><TD><I>Optional Redemption.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If so specified in the applicable prospectus
supplement, the relevant Issuer may, at its option and from time to time, redeem all or any portion of the Outstanding Securities of any
series prior to their Stated Maturity on the terms set forth in this Section 11.8 and in such prospectus supplement.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Redemption may occur (i) at any time prior
to the Par Call Date (as defined below) at the Make-Whole Redemption Price (as defined below) or (ii) on or after the Par Call Date at
a redemption price equal to 100% of the principal amount of the Securities to be redeemed (the &#8220;Par Redemption Price&#8221;). In
each case, the relevant Issuer shall also pay accrued and unpaid interest on the principal amount so redeemed, calculated to but excluding
the applicable Redemption Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Securities, or any portion thereof, shall
cease to bear interest from and after the applicable Redemption Date unless the relevant Issuer defaults in the payment of the Redemption
Price.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Make-Whole Redemption before the Par Call Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Prior to the Par Call Date, the Redemption
Price (the &#8220;Make-Whole Redemption Price&#8221;) for any Security redeemed pursuant to this Section 11.8 shall be the greater of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">(a) the sum of the present values, determined by the relevant Issuer as of the Redemption Date, of all
remaining scheduled payments of principal and interest on such Security (assuming, solely for this purpose, that such Security matured
on the Par Call Date) discounted to the date of redemption on a semi-annual basis (on the basis of a 360-day year consisting of twelve
30-day months) at the Treasury Rate (as defined below) plus the relevant basis points as set forth in the prospectus supplement for the
series, minus (b) accrued and unpaid interest on such Security to, but excluding, the Redemption Date; and<BR>
<BR>
</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">100% of the principal amount of the Security to be redeemed,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">plus, in either case, accrued and unpaid
interest thereon to, but excluding, the Redemption Date.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Par Redemption on or after the Par Call Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On or after the Par Call Date, the relevant
Issuer may redeem the Securities at its option, in whole or in part, at the Par Redemption Price plus accrued and unpaid interest thereon
to, but excluding, the Redemption Date.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">For the purposes of this Section 11.8:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Par Call Date&#8221; means the date
as stated in the relevant prospectus supplement of the relevant series of Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Treasury Rate&#8221; means, with respect
to any redemption date, the yield determined by the relevant Issuer in accordance with the following two paragraphs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Treasury Rate shall be determined by the
relevant Issuer after 4:15 p.m. New York City time (or after such time as yields on U.S. government securities are posted daily by the
Board of Governors of the Federal Reserve System), on the third Business Day preceding the redemption date based upon the yield or yields
for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors
of the Federal Reserve System designated as &#8220;Selected Interest Rates (Daily) &#8211; H.15&#8221; (or any successor designation or
publication) (&#8220;H.15&#8221;) under the caption &#8220;U.S. government securities&#8212;Treasury Constant Maturities&#8212;Nominal&#8221;
(or any successor caption or heading) (&#8220;H.15 TCM&#8221;). In determining the Treasury Rate, the relevant Issuer shall select, as
applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call
Date (the &#8220;Remaining Life&#8221;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">or (2) if there is no such Treasury constant
maturity on H.15 exactly equal to the Remaining Life, the two yields &#8211; one yield corresponding to the Treasury constant maturity
on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining
Life &#8211; and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and
rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter or longer than the
Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph,
the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of
months or years, as applicable, of such Treasury constant maturity from the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If on the third Business Day preceding the
redemption date H.15 TCM is no longer published, the relevant Issuer shall calculate the Treasury Rate based on the rate per annum equal
to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such redemption
date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there
is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a
maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date
following the Par Call Date, the relevant Issuer shall select the United States Treasury security with a maturity date preceding the Par
Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury
securities meeting the criteria of the preceding sentence, the relevant Issuer shall select from among these two or more United States
Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices
for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the
terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average
of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury
security, and rounded to three decimal places.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer&#8217;s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. Neither the Trustee nor the
Paying Agent shall be responsible for calculating the redemption price or for verifying any calculations of such redemption price. Notice
of any redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the depositary&#8217;s procedures)
at least 10 days but not more than 60 days before the redemption date to each Holder of the Securities to be redeemed.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Redemption Procedures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notice of Redemption shall be given in accordance
with Section 11.4; provided that in lieu of the period specified in Section 11.2, notice may be mailed or electronically delivered (or
otherwise transmitted in accordance with the Applicable Procedures of the Depositary) not less than ten (10) nor more than sixty (60)
days prior to the Redemption Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If fewer than all Outstanding Securities are
to be redeemed and the Securities are Global Securities held by DTC (or another Depositary), the selection of the Securities (or portions
thereof) to be redeemed shall be made by DTC (or such other Depositary) in accordance with its Applicable Procedures; otherwise, selection
shall be in accordance with Section 11.3. No Security of a principal amount less than U.S.$1,000 shall be redeemed in part.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Unless the relevant Issuer defaults in the
payment of the applicable Redemption Price, interest shall cease to accrue on any Security (or portion thereof) called for redemption
on and after the applicable Redemption Date.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.9</TD><TD><I>Optional Redemption Due to Changes in Tax Treatment.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If as the result of any change in or any amendment
to the laws, regulations or published tax rulings of the Applicable Taxing Jurisdiction affecting taxation, or any change in the official
administration, application or interpretation of such laws, regulations or published tax rulings either generally or in relation to any
particular Securities or Guarantee thereof, which change or amendment becomes effective on or after the original issue date of such Securities,
it is determined by the relevant Issuer and the Guarantors that the relevant Issuer or a Guarantor (x) would be required to pay any Additional
Amounts pursuant to Section 10.7 of this Indenture or the terms of any Security or Guarantee thereof in respect of interest on the next
succeeding Interest Payment Date (assuming, in the case of a Guarantor, a payment in respect of such interest was required to be made
by such Guarantor under its Guarantee thereof on such Interest Payment Date), and (y) such obligation cannot be avoided by the relevant
Issuer or such Guarantor taking reasonable measures available to it or such Guarantor (including by having payments with respect to Securities
or Guarantees made by the relevant Issuer or a Guarantor which would not be required to pay any Additional Amounts), the relevant Issuer
may, at its option, redeem all (but not less than all) the Securities of any series in respect of which such Additional Amounts would
be so payable at any time following such an event, upon not less than 30 nor more than 60 days&#8217; written notice as provided in Sections
11.2 and 11.4, at a Redemption Price equal to 100% of the principal amount thereof plus accrued and unpaid interest (including additional
interest and Additional Amounts, if any) to, but excluding, the date fixed for redemption; provided, however, that (a) no such notice
of redemption may be given earlier than 60 days prior to the earliest date on which the relevant Issuer or such Guarantor would be obligated
to pay such Additional Amounts were a payment in respect of the Securities or the Guarantee thereof, as the case may be, then due and
(b) at the time any such redemption notice is given, such obligation to pay such Additional Amounts must remain in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Prior to the mailing or electronic delivery
(or other transmission in accordance with the depositary&#8217;s procedure) of any notice of redemption at least 10 days but not more
than 60 days before the redemption date to each Holder of the Securities to be redeemed pursuant to this Section, the relevant Issuer
shall deliver to the Trustee and the Paying Agent and the relevant Agent giving the notice (i) an Opinion of an independent legal adviser
of recognized standing in the relevant jurisdiction to the effect that the relevant Issuer or a Guarantor would be required to pay Additional
Amounts on the next payment in respect of such Securities, and (ii) an Officers&#8217; Certificate to the effect that such obligation
cannot be avoided by the relevant Issuer or such Guarantor, taking reasonable measures available to it, and the Trustee and Paying Agent
and the relevant Agent giving the notice shall be entitled to accept such opinion and Officers&#8217; Certificate as sufficient evidence
of the satisfaction of the condition precedent set out above in which event it shall be conclusive and binding on the Holders of such
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If (1) the relevant Issuer or any Guarantor
shall have on any date (the &#8220;Succession Date&#8221;) consolidated with or merged into, or conveyed or transferred or leased all
or substantially all of its properties and assets to, any Successor Person that is incorporated, organized or resident (or deemed resident
for tax purposes) under the laws of any jurisdiction other than the jurisdiction in which the relevant Issuer or any Guarantor is incorporated,
organized or resident (or deemed resident for tax purposes), (2) as the result of any change in or any amendment to the laws, regulations
or published tax rulings of such jurisdiction, or of any political subdivision or taxing authority thereof or therein, affecting taxation,
or any change in the official administration, application or interpretation of such laws, regulations or published tax rulings either
generally or in relation to any particular Securities or the Guarantees thereof, which change or amendment becomes effective on or after
the Succession Date,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">such Successor Person would be required to
pay any Additional Amounts pursuant to Section 8.1(c) hereof or the terms of any Security or the Guarantees thereof in respect of interest
on any Securities on the next succeeding Interest Payment Date, and (3) such obligation cannot be avoided by the Successor Person taking
reasonable measures available to it, the relevant Issuer or such Successor Person may, at the relevant Issuer&#8217;s or such Successor
Person&#8217;s option, redeem all (but not less than all) of the Securities of any series, upon not less than 30 nor more than 60 days&#8217;
written notice as provided in Section 11.2 and 11.4, at a Redemption Price equal to 100% of the principal amount thereof plus accrued
and unpaid interest (including additional interest) to, but excluding, the date fixed for redemption and Additional Amounts, if any; provided,
however, that (1) no such notice of redemption may be given earlier than 60 days prior to the earliest date on which a Successor Person
would be obligated to pay such Additional Amounts were a payment in respect of the Securities or Guarantee thereof, as the case may be,
then due, and (2) at the time any such redemption notice is given, such obligation to pay such Additional Amounts must remain in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Prior to the mailing or electronic delivery
(or other transmission in accordance with the Depositary&#8217;s procedure) of any notice of redemption at least 10 days but not more
than 60 days before the redemption date to all Holders of Securities pursuant to this Section, the Successor Person shall deliver to the
Trustee and the Paying Agent (i) an Opinion of an independent legal adviser of recognized standing in the relevant jurisdiction to the
effect that such Successor Person would be required to pay Additional Amounts on the next payment in respect of such Securities, and (ii)
an Officers&#8217; Certificate to the effect that such obligation cannot be avoided by the Successor Person taking reasonable measures
available to it, and the Trustee and the Paying Agent shall be entitled to accept such opinion and Officers&#8217; Certificate as sufficient
evidence of the satisfaction of the condition precedent set out above in which event it shall be conclusive and binding on the Holders
of such Securities.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.10</TD><TD><I>Repurchase Upon Change of Control Repurchase Event.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon the occurrence of a Change of Control
Repurchase Event (as defined below), unless the relevant Issuer has exercised its right to redeem the Securities pursuant to the relevant
supplemental indenture, each holder shall have the option to require the relevant Issuer to repurchase all or any portion of its Securities
(in principal amounts of U.S.$1,000 and integral multiples of U.S.$1,000 in excess thereof) on the Repurchase Date (as defined below)
at a price equal to 101% of the principal amount thereof, together with accrued and unpaid interest thereon to, but excluding, the date
of repurchase (subject to the right of holders of the Securities on the relevant record date to receive interest due on the relevant Interest
Payment Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Within 30 days following the date upon the
relevant Issuer becoming aware that a Change of Control Repurchase Event has occurred or, at the relevant Issuer&#8217;s option, prior
to any Change of Control Repurchase Event (as defined below), but after the public announcement of an impending Change of Control Repurchase
Event, the relevant Issuer shall deliver or cause to be delivered a notice of such Change of Control Repurchase Event electronically in
accordance with the applicable DTC procedures, with a copy to the Trustee and the Agents, and the Issuer shall, and at any time upon the
Registrar having actual knowledge, the Registrar may, and if so requested by the holders of at least 25% of the aggregate principal amount
of the Securities then outstanding, shall (subject in each case to the Registrar being indemnified and/or secured to its satisfaction),
give notice (a &#8220;Change of Control Repurchase Event Notice&#8221;) to the holders specifying the nature of the Change of Control
Repurchase Event and the procedure for exercising the holders&#8217; repurchase option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To exercise the option to require the repurchase
of a Security following the occurrence of a Change of Control Repurchase Event the holder of the Security must deliver such Security,
on any Business Day during the period beginning no earlier than 10 days from the date on which the Change of Control Repurchase Event
Notice is given and ending 60 days from the date such notice is given (the &#8220;Repurchase Period&#8221;), at the specified office of
the Paying Agent, accompanied by a duly signed and completed notice of exercise in the form (for the time being current) which shall be
provided with the Change of Control Repurchase Event Notice (a &#8220;Change of Control Repurchase Notice&#8221;). A Change of Control
Repurchase Notice, once given, shall be irrevocable unless the relevant Issuer elects to permit revocations. All Securities submitted
for repurchase shall be purchased by the relevant Issuer on the date that is 3 Business Days after the expiration of the Repurchase Period
(the &#8220;Repurchase Date&#8221;).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On the Repurchase Date, the relevant Issuer
will:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">accept for payment all Securities or portions of Securities (in principal amounts of U.S.$1,000 and integral
multiples of U.S.$1,000 in excess thereof) properly tendered pursuant to the repurchase option;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">deposit with the Paying Agent an amount equal to the aggregate repurchase price in respect of all Securities
or portions of Securities properly tendered;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">deliver or cause to be delivered to the Paying Agent (with a copy to the Trustee) the Securities properly
accepted, together with an Officers&#8217; Certificate (upon which the Trustee and Paying Agent may conclusively rely) stating the aggregate
principal amount of Securities being purchased; and</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">instruct the Registrar in writing (with a copy to the Trustee) to cancel all Securities or portions of
the Securities so repurchased and delivered, and the Registrar shall promptly cancel such Securities in accordance with its customary
procedures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Paying Agent will promptly mail to each
holder of Securities properly tendered the repurchase price for the Securities, and the Authenticating Agent will promptly authenticate
and mail (or cause to be transferred by book- entry) to each holder a new Security equal in principal amount to any unpurchased portion
of any Securities surrendered; provided, that each new Security will be in a principal amount of U.S.$1,000 and integral multiples of
U.S.$1,000 in excess thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer will comply with the requirements
of Rule l 4e-l 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 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 relevant Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations
under the Change of Control Repurchase Event provisions of the Securities by virtue of such conflict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer will not be required to
make an offer to repurchase the Securities upon a Change of Control Repurchase Event if a third party makes such an offer in the manner,
at the times and otherwise in compliance with the requirements for an offer made by such Issuer, and such third party purchases all notes
properly tendered and not withdrawn under its offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Trustee and Paying Agent are each under
no obligation to ascertain whether a Change of Control Repurchase Event or Change of Control or any event which could lead to the occurrence
of or could constitute a Change of Control Repurchase Event or Change of Control has occurred and, until the Trustee or the Paying Agent,
as applicable, shall have actual knowledge or written notice pursuant to this Indenture to the contrary, the Trustee or the Paying Agent,
as applicable, may assume that no Change of Control Repurchase Event or Change of Control (as defined below) or other such event has occurred.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A &#8220;Change of Control&#8221; means the
occurrence of any of the following:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">(i) the consummation of any transaction, including any merger or consolidation, as a result of which any
&#8220;person&#8221; or &#8220;group&#8221; (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than a holding
company whose shareholders are or are to be substantially similar to WPP plc&#8217;s shareholders immediately prior to such company becoming
WPP plc&#8217;s parent company, is or becomes the &#8220;beneficial owner&#8221; (as such term is used in Rule 13d-3 under the Exchange
Act), directly or indirectly, as a result of a purchase, merger or otherwise, of (x) more than 50 percent of the issued ordinary share
capital of WPP plc, or, in lieu thereof after the creation of a New Parent (as defined below), more than 50 percent of the issued ordinary
share capital of the New Parent or (y) shares in the capital of WPP plc carrying more than 50 percent of the voting rights (&#8220;Voting
Stock&#8221;) normally exercisable at a general meeting of WPP plc, or, in lieu thereof after the creation of a New Parent, more than
50 percent of the Voting Stock of the New Parent normally exercisable at a general meeting of the New Parent; or (ii) any Guarantor ceases
to be a direct or indirect Subsidiary of WPP plc or any Parent Guarantor;</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger
or consolidation), in one or a series of related transactions, of all or substantially all of the assets of WPP plc and its Subsidiaries
taken as a whole to any &#8220;person&#8221; (as that term is used in Section 13(d)(3) of the Exchange Act) other than to WPP plc or one
of its Subsidiaries or, in lieu thereof after the creation of a New Parent, the direct or indirect sale, lease, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially
all of the assets of the New Parent and its Subsidiaries taken as a whole to any &#8220;person&#8221; (as that term is used in Section
13(d)(3) of the Exchange Act) other than to the New Parent or one of its Subsidiaries; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the adoption of a plan relating to the liquidation or dissolution of WPP plc or, in lieu thereof after
the creation of a New Parent, the adoption of a plan relating to the liquidation or dissolution of the New Parent</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(each of the events set forth in clauses
(a), (b) and (c), a &#8220;Change of Control&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A &ldquo;below investment grade rating event&rdquo; means at the time of the occurrence of a Change of Control, (i) the Securities carry
an Investment Grade credit rating from at least three Rating Agencies and such ratings from at least two Rating
Agencies are, within a period ending 120 days after announcement of the Change of Control having occurred (or such longer period as the
Securities are under consideration, announced publicly within such 120-day period, for rating review), each downgraded to a non-investment
grade credit rating (Ba1/BB+, or equivalent, or worse), or (ii) the Securities carry an Investment Grade credit rating from one or
two Rating Agencies and any such rating is, within a period ending 120 days after announcement of the Change of Control having occurred
(or such longer period as the Securities are under consideration, announced publicly within such 120 day period, for rating review), downgraded
to a non-investment grade credit rating (Bal/BB+, or equivalent, or worse), or (iii) if the Securities are rated by three
Rating Agencies, the ratings of the Securities from at least two Rating Agencies are withdrawn or, if the Securities
are rated by either one or two Rating Agencies at such time, any rating is withdrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Change of Control Repurchase Event&#8221;
means the occurrence of both a Change of Control and a below investment grade rating event with respect to the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the foregoing, if at the time
of the occurrence of the Change of Control the Securities carry either a non-investment grade credit rating from each Rating Agency then
assigning a credit rating to the Securities or no credit rating from any Rating Agency, a Change of Control Repurchase Event will be
deemed to occur upon the occurrence of a Change of Control alone.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For the purposes of the foregoing provisions,
&#8220;New Parent&#8221; means any Parent Guarantor whose equity ownership is substantially the same as WPP plc or any prior Parent Guarantor
immediately prior to such New Parent becoming a Parent Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Twelve<BR>
<BR>
Legal Defeasance and Covenant Defeasance</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.1</TD><TD><I>Option to Effect Defeasance or Covenant Defeasance.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 12.2 and Section 12.3 shall apply to
the Outstanding Securities of any series (a &#8220;Defeasible Series&#8221;) to the extent that the terms of such Securities established
as contemplated by Section 3.1 provide for such applicability.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.2</TD><TD><I>Defeasance and Discharge.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer and the Guarantors shall
be deemed to have been discharged from their respective obligations with respect to the Outstanding Securities of any Defeasible Series,
as provided in this Section 12.2 on and after the date the applicable conditions set forth in Section 12.4 are satisfied (hereinafter
called &#8220;Defeasance&#8221;) with respect to such Securities. For this purpose, such Defeasance means that the relevant Issuer and
the Guarantors shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series
and to have satisfied all their other respective obligations under the Securities of such series and this Indenture insofar as the Securities
of such series are concerned (and the Trustee and the other relevant parties and Agents, at the written request and expense of the relevant
Issuer, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated
or discharged hereunder: (1) the rights of Holders of Securities of such series to receive, solely from the trust fund described in Section
12.4 and as more fully set forth in such Section, payments in respect of the principal of, any premium and interest and Additional Amounts
on, such Securities of such series when payments are due, (2) the relevant Issuer&#8217;s and the Guarantors&#8217; obligations with respect
to the Securities of such series under Sections 3.4, 3.5, 3.6, 10.2, 10.3, 10.7 (to the extent then unknown) and 10.12, (3) the rights
(including without limitation, the rights set forth in Section 6.7), powers, trusts, duties and immunities of the Trustee hereunder and
(4) this Article. Subject to compliance with this Article, the relevant Issuer or the Guarantors may defease any Securities pursuant to
this Section notwithstanding the prior Covenant Defeasance of such Securities pursuant to Section 12.3.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.3</TD><TD><I>Covenant Defeasance.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On and after the date the applicable conditions
set forth in Section 12.4 are satisfied (hereinafter called &#8220;Covenant Defeasance&#8221;) with respect to the Outstanding Securities
of any Defeasible Series of the relevant Issuer, pursuant to this Section 12.3, (a) the relevant Issuer and the Guarantors shall be released
from their respective obligations under Sections 8.1, 10.5, 10.6, 10.9, 10.10, 10.11 and 10.13, and any covenants established as contemplated
by Section 3.1 or adopted by supplemental indenture hereto under Section 9.1(b) for the benefit of the Holders of such Securities and
(b) the occurrence of any event specified in Sections 5.1(c) and 5.1(d) or pursuant to Section 5.1(g) with respect to any obligations
referred to in Clause (a) of this Section 12.3 shall be deemed not to be or result in an Event of Default, in each case with respect to
the Outstanding Securities of such series as provided in this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For this purpose, such Covenant Defeasance
means that the relevant Issuer and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition
or limitation set forth in any such specified Section (to the extent so specified in the case of Section 5.1(d)), whether directly or
indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and the Securities of such series shall be unaffected thereby.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.4</TD><TD><I>Conditions to Defeasance or Covenant Defeasance.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following shall be the conditions to the
Defeasance pursuant to Section 12.2 or the Covenant Defeasance pursuant to Section 12.3 of the Outstanding Securities of any Defeasible
Series of the relevant Issuer:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The relevant Issuer or any Guarantor shall irrevocably have deposited or caused to be deposited with the
Paying Agent (or another paying agent which satisfies the requirements applicable to Trustees contemplated by Section 6.9 and agrees to
comply with the provisions of this Article applicable to it), as applicable, as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of the Outstanding Securities of such
series, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect
thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or
(C) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee and the Paying Agent, to pay and discharge, and which shall be applied by
the Paying Agent (or any such other qualifying paying agent), to pay and discharge, the principal of and any premium and interest on the
Securities of such series on the respective Stated Maturities, in accordance with the terms of this Indenture and the Securities of such
series.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As used herein, &#8220;U.S. Government Obligation&#8221;
means (x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit
of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United
States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the relevant Issuer thereof, and
(y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S.
Government Obligation which is specified in Clause (x) above and held by such bank for the account of the holder of such depositary receipt,
or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held;
provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder
of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment
of principal or interest evidenced by such depositary receipt.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The relevant Issuer or any Guarantor shall have delivered to the Trustee Opinions of Counsel to the effect
that (a) the beneficial owners of the Outstanding Securities of such series will not recognize gain or loss for U.S. federal income tax
purposes or be subject to any taxes or recognize gain or loss for income tax purposes in the jurisdictions in which the relevant Issuer
is organized, resident or carries on business as a result of the deposit and Defeasance or Covenant Defeasance to be effected with respect
to the Outstanding Securities of such series and will be subject to U.S. federal income tax and income taxes, capital gains and other
taxes, including withholding taxes in such jurisdictions in the same amount, in the same manner and at the same times as would be the
case if such deposit and Defeasance or Covenant Defeasance were not to occur, which in the case of Defeasance pursuant to Section 12.2
must (in the case of U.S. federal income tax matters) be based on a change in law or published ruling by the U.S. Internal Revenue Service
and (b) the deposit shall not result in the relevant Issuer being deemed an &#8220;investment company&#8221; required to register under
the Investment Company Act.</TD></TR></TABLE>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The relevant Issuer or any Guarantor shall have delivered to the Trustee an Officers&#8217; Certificate
to the effect that the Securities of such series, if then listed on any securities exchange, will not be delisted as a result of such
deposit.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">No event which is, or after notice or lapse of time or both would become, an Event of Default with respect
to the Outstanding Securities of such series shall have occurred and be continuing at the time of such deposit or, with regard to any
such event specified in Sections 5.1(e) and (f), at any time on or prior to the 90th day after the date of such deposit (it being understood
that this condition shall not be deemed satisfied until after such 90th day).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within
the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default
under, any other agreement or instrument to which the relevant Issuer or any Guarantor is a party or by which it or they are bound.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">The relevant Issuer or any Guarantor shall have delivered to the Trustee an Officers&#8217; Certificate
and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been
complied with.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.5</TD><TD><I>Deposited Money and US. Government Obligations to be Held in Trust; Miscellaneous Provisions.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Subject to the provisions of the last paragraph
of Section 10.3, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Paying Agent or other qualifying
trustee (solely for purposes of this Section and Section 12.6, the Trustee and any such other trustee are referred to collectively as
the &#8220;Trustee&#8221;) pursuant to Section 12.4 in respect of any Securities of the relevant Issuer shall be held in trust and applied
by the Paying Agent, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
the Paying Agent (or the relevant Issuer or any Guarantor if the relevant Issuer or a Guarantor shall then be acting as its own or their
own Paying Agent) as the Trustee may determine (in making any such determination, the Trustee shall, among other things, be entitled to
conclusively rely on information provided by the Registrar and/or on information in the Security Register), to the Holders of such Securities,
of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but money so held in trust need not
be segregated from other funds except to the extent required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The relevant Issuer or the Guarantors, as the
case may be, shall pay and indemnify the Trustee and the Paying Agent against any tax, fee or other charge imposed on or assessed against
the U.S. Government Obligations deposited pursuant to Section 12.4 or the principal and interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding anything in this Article to
the contrary, the Paying Agent shall deliver or pay to the relevant Issuer or the Guarantors, as the case may be, from time to time upon
an Issuer Request any money or U.S. Government Obligations held by it as provided in Section 12.4 with respect to any Securities which,
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee and Paying Agent, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance
or Covenant Defeasance, as the case may be, with respect to such Securities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.6</TD><TD><I>Reinstatement.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If the Trustee or the Paying Agent is unable
to apply any money in accordance with this Article with respect to any Securities of the relevant Issuer by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this
Indenture and such Securities from which the relevant Issuer and the Guarantors have been discharged or released pursuant to Section 12.2
or 12.3 shall be revived and reinstated, as though no deposit had occurred pursuant to this Article with respect to such Securities, until
such time as the Trustee or such Paying Agent is permitted to apply all money held in trust pursuant to Section 12.5 with respect to such
Securities in accordance with this Article; provided, however, that if the relevant Issuer or any Guarantor makes any payment of principal
of, premium, if any, or interest on any such Security following such reinstatement of its obligations, the relevant Issuer or such Guarantor
shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
Thirteen<BR>
<BR>
Guarantee of Securities</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13.1</TD><TD><I>Guarantee.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Guarantor hereby, jointly and severally,
fully and unconditionally guarantees to each Holder of a Security of each series issued by the relevant Issuer that has been authenticated
and delivered by the Authenticating Agent and/or Trustee, as applicable, and to the Trustee and the Agents, the full and punctual payment
of the principal of and any premium and interest on such Security (and any Additional Amounts payable in respect thereof), when and as
the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption, call for repurchase
or otherwise, and any other amounts due under this Indenture, all in accordance with the terms of such Security and of this Indenture.
Each Guarantee is a direct, unsubordinated and unsecured obligation of such Guarantor and ranks <I>pari passu</I> with all other unsubordinated
and unsecured obligations of such Guarantor. Each Guarantor hereby agrees that its obligations hereunder shall be as if it were a principal
debtor and not merely a surety, and shall be absolute and unconditional, irrespective of, and shall be unaffected by, any invalidity,
irregularity or unenforceability of any Security of any series or this Indenture, any failure to enforce the provisions of any Security
of any series or this Indenture, any waiver, modification or indulgence granted to the relevant Issuer with respect thereto, by the Holder
of any Security of any series or the Trustee, or any other circumstances which may otherwise constitute a legal or equitable discharge
of a surety or guarantee; provided, however, that, notwithstanding the foregoing, no such waiver, modification or indulgence shall, without
the consent of the Guarantor increase the principal amount of a Security or the interest rate thereon or increase any premium payable
upon redemption thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Guarantor hereby waives diligence, presentment,
demand of payment, filing of claims with a court in the event of merger or bankruptcy of the relevant Issuer, any right to require a proceeding
first against the relevant Issuer, the benefit of discussion, protest or notice with respect to any Security or the indebtedness evidenced
thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged with respect to any Security except by payment
in full of the principal thereof and any premium and interest thereon or as provided in Article Four, Section 8.2 or Article Twelve. Each
Guarantor further agrees that, as between such Guarantor, on the one hand, and the Holders and the Trustee, on the other hand, the Maturity
of the obligations guaranteed hereby may be accelerated as provided in Article Five hereof for the purposes of this Guarantee, notwithstanding
any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Guarantor shall be subrogated to all rights
of each Holder of Securities against the relevant Issuer in respect of any amounts paid to such Holder by such Guarantor pursuant to the
provisions of this Guarantee; provided, however, that such Guarantor shall not be entitled to enforce, or to receive any payments arising
out of, or based upon, such right of subrogation until the principal of and any premium and interest on all the Securities of the same
series and of like tenor shall have been paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No past, present or future stockholder, officer,
director, employee or incorporator of any Guarantor shall have any personal liability under the Guarantee set forth in this Section 13.1
by reason of his or its status as such stockholder, officer, director, employee or incorporator.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13.2</TD><TD><I>Execution and Delivery of Indenture.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To further evidence a Guarantee set forth in
Section 13.1, each Guarantor hereby agrees that this Indenture, or a supplemental indenture hereto, shall be executed by either manual
or facsimile signature of an Officer of such Guarantor. The validity and enforceability of any Guarantee shall not be affected by the
fact that it is not affixed to any particular Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each of the Guarantors hereby agrees that its
Guarantee set forth in Section 13.1 shall remain in full force and effect notwithstanding any failure to endorse on each Security a notation
of such Guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an Officer of a Guarantor whose signature
is on this Indenture, or an indenture supplemental hereto, no longer holds that office at the time the Trustee (and/or Authenticating
Agent) authenticates the Securities or at any time thereafter, such Guarantor&#8217;s Guarantee (pursuant to this Indenture) of such Security
shall be valid nevertheless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The delivery of the Securities of any series
by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantees set forth in this Indenture
on behalf of such Guarantor.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">IN WITNESS WHEREOF, the parties hereto have
caused this 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: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>ISSUER</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Executed as a Deed by <B>WPP 2025 LLC</B> <BR>
acting
    by [&nbsp;&nbsp;], a manager</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Manager</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the presence of:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Witness&#8217;s signature</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Occupation:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Address:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 248.15pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 248.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>ISSUER</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Executed as a Deed by <B>WPP FINANCE 2010
</B><BR>
acting by [&nbsp;&nbsp;], a director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the presence of:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Witness&#8217;s signature</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Occupation:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Address:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>PARENT GUARANTOR</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">WPP PLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">By: _____________________________________</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Title:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 248.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 248.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>GUARANTOR</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Executed as a Deed by <B>WPP JUBILEE LIMITED<BR>
    </B>acting by [&nbsp;&nbsp;], a director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the presence of:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Witness&#8217;s signature</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Occupation:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Address:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 248.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>GUARANTOR</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Executed as a Deed by <B>WPP 2005 LIMITED<BR>
    </B>acting by [&nbsp;&nbsp;], a director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the presence of:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">________________________________________<BR>
    Witness&#8217;s signature</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Occupation:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Address:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>TRUSTEE</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION,<BR>
    </B>as Trustee</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">By: _____________________________________</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Title:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 248.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>REGISTRAR AND PAYING AGENT</B>:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>CITIBANK, N.A.,</B><BR>
    as Registrar and Paying Agent</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">By: _____________________________________</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Name:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Title:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">[WPP Finance 2010 and WPP 2025 LLC Indenture]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: right">102</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>ss5271995_ex0501.htm
<DESCRIPTION>OPINION OF ALLEN OVERY SHEARMAN STERLING LLP
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<BODY>


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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">WPP plc</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Sea Containers</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">18 Upper Ground</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">London SE1 9GL</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">United Kingdom</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">WPP Finance 2010</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Sea Containers</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">18 Upper Ground</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">London SE1 9GL</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">United Kingdom</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">WPP 2025 LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">3 World Trade Center</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">175 Greenwich Street</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">New York NY 10007</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">United States</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt/11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P></TD>
    <TD STYLE="width: 33%">
    <P STYLE="font: bold 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">Allen Overy Shearman Sterling LLP</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">One Bishops Square</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">London E1 6AD</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">United Kingdom</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">Tel&#9;+44 (0)20 3088 0000</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">Fax&#9;+44 (0)20 3088 0088</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt/13pt Times New Roman, Times, Serif; padding-top: 12pt; padding-left: 87.9pt; text-indent: -87.9pt; text-align: left">Our ref&#9;SD0016432-0000755 UKO2: 2010901418.4</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">March 19, 2026</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><B>WPP Finance 2010</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><B>WPP 2025 LLC</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><B>Registration Statement on Form F-3</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">Ladies and Gentlemen,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We have acted as special United States
counsel to WPP Finance 2010, a private unlimited liability company incorporated under the laws of England and Wales, WPP 2025 LLC, a
limited liability company organized under the laws of Delaware (together, the &ldquo;<B>Issuers</B>&rdquo;), WPP plc, a public company
limited by shares incorporated under the laws of Jersey (the &ldquo;<B>Parent Guarantor</B>&rdquo;), WPP Jubilee Limited, a private limited
company in England and Wales and WPP 2005 Limited, a private limited company incorporated under the laws of England and Wales (together
with the Parent Guarantor and WPP Jubilee Limited, the &ldquo;<B>Guarantors</B>&rdquo;) in connection with the registration under the
Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;), of (i) an indeterminate amount of debt securities of the
Issuer (the <B>Debt Securities</B>) to be issued pursuant to a base indenture  among the Issuer, the Guarantors,
Wilmington Trust, National Association, as trustee and Citibank N.A., as registrar and paying agent (the &#8220;<B>Indenture</B>&#8221;);
and (ii) the guarantees (the &#8220;<B>Guarantees</B>&#8221;) of each of the Guarantors of the Debt Securities. The Debt Securities and
the Guarantees will be offered from time to time on a delayed or continuous basis pursuant to the provisions of Rule 415 under the Securities
Act.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">In that connection,
we have reviewed originals or copies of the following documents:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(a)</TD><TD STYLE="text-align: justify">the registration statement on Form F-3 relating to the Debt Securities and Guarantees;</TD></TR></TABLE>

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

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

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt">Allen Overy Shearman Sterling LLP is a limited liability partnership
registered in England and Wales with registered number OC306763. It is authorised and regulated by the Solicitors Regulation Authority
of England and Wales (SRA number 401323). The term partner is used to refer to a member of Allen Overy Shearman Sterling LLP or an employee
or consultant with equivalent standing and qualifications. A list of the members of Allen Overy Shearman Sterling LLP and of the non-members
who are designated as partners is open to inspection at its registered office, One Bishops Square, London E1 6AD.</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt">Allen Overy Shearman Sterling LLP or an affiliated undertaking
has an office in each of: Abu Dhabi, Amsterdam, Antwerp, Austin, Bangkok, Beijing, Belfast, Boston, Bratislava, Brussels, Budapest, Casablanca,
Dallas, Dubai, Dublin, D&uuml;sseldorf, Frankfurt, Hamburg, Hanoi, Ho Chi Minh City, Hong Kong, Houston, Istanbul, Jakarta (associated
office), Johannesburg, London, Los Angeles, Luxembourg, Madrid, Menlo Park, Milan, Munich, New York, Paris, Perth, Prague, Riyadh, Rome,
San Francisco, S&atilde;o Paulo, Seoul, Shanghai, Silicon Valley, Singapore, Sydney, Tokyo, Toronto, Warsaw, Washington, D.C.</FONT></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(b)</TD><TD STYLE="text-align: justify">the form of Indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(c)</TD><TD STYLE="text-align: justify">the forms of the Debt Securities as set forth in the Indenture.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The documents described in the foregoing
clauses (a) through (c) are collectively referred to as the &ldquo;<B>Opinion Documents</B>&rdquo;.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In our review of the Opinion Documents
and other documents, we have assumed:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(a)</TD><TD STYLE="text-align: justify">The genuineness of all signatures.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(b)</TD><TD STYLE="text-align: justify">The authenticity of the originals of the documents submitted to us.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(c)</TD><TD STYLE="text-align: justify">The conformity to authentic originals of any documents submitted to us as copies.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(d)</TD><TD STYLE="text-align: justify">That each of the Opinion Documents is the legal, valid and binding obligation of each party thereto, (other
than the Issuers and the Guarantors to the extent that Generally Applicable Law (as defined below) is applicable), enforceable against
each such party in accordance with its terms.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(e)</TD><TD STYLE="text-align: justify">That under English and Jersey law, as the case may be, each of the Opinion Documents is the legal, valid
and binding obligation of the Issuers and the Guarantors enforceable against each such party in accordance with its terms.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(f)</TD><TD STYLE="text-align: justify">That:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Each of the parties to the Opinion Documents (other than WPP 2025 LLC) is an entity duly organized and
validly existing under the laws of its jurisdiction of organization.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Each of WPP Finance 2010 and the Guarantors have power and authority (corporate or otherwise) to execute,
deliver and perform, and has duly authorized, executed and delivered (except to the extent Generally Applicable Law (as defined below)
is applicable to such execution and delivery), the Opinion Documents to which it is a party.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">The execution, delivery and performance by each of WPP Finance 2010 and the Guarantors of the Opinion
Documents to which it is a party does not and will not:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">contravene its certificate or articles of incorporation, by-laws or other organizational documents; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">except with respect to Generally Applicable Law, violate any law, rule or regulation applicable to it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(g)</TD><TD STYLE="text-align: justify">That the execution, delivery and performance by each of the Issuers and the Guarantors of the Opinion
Documents to which it is a party do not and will not result in any conflict with or breach of any agreement or document binding on it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(h)</TD><TD STYLE="text-align: justify">We have assumed that at the time of the issuance, sale and delivery of any Debt Securities or Guarantees
there will not have occurred any change in law affecting the validity, legally binding character or enforceability of such Debt Securities
or Guarantees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(i)</TD><TD STYLE="text-align: justify">We have assumed that each issuance of Debt Securities will be in an aggregate principal amount of not
less than U.S.$2,500,000 or the equivalent thereof.</TD></TR></TABLE>

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

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

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<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We have not independently established
the validity of the foregoing assumptions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For purposes of this opinion, &ldquo;<B>Generally
Applicable Laws</B>&rdquo; means the federal law of the United States of America, the law of the State of New York &nbsp;and the Limited
Liability Company Act of the State of Delaware.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">Based upon the foregoing
and upon such other investigation as we have deemed necessary and subject to the qualifications set forth below, we are of the opinion
that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">When the Registration Statement has become effective under the Securities Act and the Debt Securities
have been duly executed by the relevant Issuer, authenticated by the Trustee in accordance with the Indenture and delivered and paid for
as provided in the Registration Statement, the Debt Securities will constitute valid and binding obligations of the relevant Issuer, enforceable
against such Issuer in accordance with their terms, and the Debt Securities will be entitled to the benefits of the Indenture.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">When the Registration Statement has become effective under the Securities Act and the Debt Securities
have been duly executed by the relevant Issuer, authenticated by the Trustee in accordance with the Indenture and delivered and paid for
as provided in the Registration Statement, the Guarantees will be the legal, valid and binding obligations of the Guarantors, enforceable
against each respective Guarantor in accordance with their terms, and the Guarantees will be entitled to the benefits of the Indenture.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Our opinions expressed above are subject
to the following qualifications:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(a)</TD><TD STYLE="text-align: justify">Our opinions above are subject to (i) the effect of any applicable bankruptcy, insolvency, reorganization,
resolution, moratorium or similar laws affecting creditors&rsquo; rights generally (including without limitation all laws relating to
fraudulent transfers) and (ii) possible judicial action giving effect to governmental actions or foreign laws affecting creditors&rsquo;
rights.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(b)</TD><TD STYLE="text-align: justify">Our opinions above are also subject to the effect of general principles of equity, including without limitation
concepts of materiality, reasonableness, good faith and fair dealing (regardless of whether considered in a proceeding in equity or at
law).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(c)</TD><TD STYLE="text-align: justify">We express no opinion as to the enforceability of (i) any waiver of any applicable defenses, rights of
set-off or counterclaims that are not capable of waiver, (ii) any provision relating to the severability of provisions in the Opinion
Documents, or (iii) any provision of any of the Opinion Documents to the effect that terms may not be waived or modified except in writing.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(d)</TD><TD STYLE="text-align: justify">Although the Opinion Documents provide for obligations of the Company denominated in a currency other
than United States dollars, we express no opinion as to whether a court would award a judgment in a currency other than United States
dollars.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(e)</TD><TD STYLE="text-align: justify">We express no opinion with respect to Section 1.13 of the Indenture to the extent that such section (i)
contains a waiver of any objection based on inappropriate venue or <I>forum non conveniens</I> in any federal court of the United States
or (ii) implies that a federal court of the United States has subject matter jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">This opinion letter
speaks only as of the date hereof. We expressly disclaim any responsibility to advise you of any development or circumstance of any kind,
including any change of law or fact, that may occur after the date of this opinion letter and which might affect the opinions expressed
herein.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">We hereby consent to
the filing of this opinion as an exhibit to the Registration Statement and to the reference to us under the heading &ldquo;Validity of
Securities&rdquo; in the prospectus that is a part of the Registration Statement. In giving such consent, we do not hereby admit that
we are in the category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations of the
U.S. Securities and Exchange Commission thereunder.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">Sincerely yours,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">/s/ Allen Overy Shearman Sterling LLP</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ALLEN OVERY SHEARMAN STERLING LLP</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

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<DESCRIPTION>OPINION OF ALLEN OVERY SHEARMAN STERLING LLP
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">WPP Finance 2010</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Sea Containers</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">18 Upper Ground</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">London SE1 9GL</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">United Kingdom</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">WPP 2025 LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Corporate Creations Network Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1521 Concord Pike, Suite 201</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Wilmington DE 19803</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">United States</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt/11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P></TD>
    <TD STYLE="width: 33%">
    <P STYLE="font: bold 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">Allen Overy Shearman Sterling LLP</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">One Bishops Square</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">London E1 6AD</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">United Kingdom</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">Tel&#9;+44 (0)20 3088 0000</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">Fax&#9;+44 (0)20 3088 0088</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt/11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt/13pt Times New Roman, Times, Serif; padding-top: 12pt; padding-left: 87.9pt; text-indent: -87.9pt; text-align: left">Our ref&#9;PPPC/MIEH/0016432-0000755 UKO2: 2010913991.7</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">19 March 2026</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><B>WPP Finance 2010</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><B>WPP 2025 LLC</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0"><B>Registration Statement on Form F-3</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0">Ladies and Gentlemen,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have acted as English counsel to WPP Finance 2010, a private unlimited liability company organized under the laws of England and Wales
(the <B>English Issuer</B>), WPP 2025 LLC, a limited liability company incorporated under the laws of Delaware (the <B>US Issuer</B>
and, together with the English Issuer, the <B>Issuers</B>), WPP plc, a public company limited by shares in Jersey (<B>WPP</B>), WPP 2005
Limited, a private limited liability company organized under the laws of England and Wales (<B>WPP 2005</B>) and WPP Jubilee Limited,
a private limited liability company organised under the laws of England and Wales (<B>WPP Jubilee</B>, and together with WPP and WPP
2005, the <B>Guarantors</B>) in connection with the registration under the U.S. Securities Act of 1933, as amended (the <B>Securities
Act</B>) of (i) an indeterminate amount of debt securities of the Issuers (the <B>Notes</B>, which term shall also include the Global
Notes (as defined below) except where the context otherwise requires) to be issued pursuant to a base indenture (the <B>Indenture</B>)
 among the Issuers, the Guarantors, Wilmington Trust, National Association (as
trustee) and Citibank, N.A., (as security registrar and principal paying agent) and (ii) the guarantees (the <B>Guarantees</B>) of each
of the Guarantors of the Notes. The Notes and the Guarantees will be offered from time to time on a delayed or continuous basis pursuant
to the provisions of Rule 415 under the Securities Act. </FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

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

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt">Allen Overy Shearman Sterling LLP is a limited liability partnership registered
in England and Wales with registered number OC306763. It is authorised and regulated by the Solicitors Regulation Authority of England
and Wales (SRA number 401323). The term partner is used to refer to a member of Allen Overy Shearman Sterling LLP or an employee or consultant
with equivalent standing and qualifications. A list of the members of Allen Overy Shearman Sterling LLP and of the non-members who are
designated as partners is open to inspection at its registered office, One Bishops Square, London E1 6AD.</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt">Allen Overy Shearman Sterling LLP or an affiliated undertaking has an office
in each of: Abu Dhabi, Amsterdam, Antwerp, Austin, Bangkok, Beijing, Belfast, Boston, Bratislava, Brussels, Budapest, Casablanca, Chicago,
Dallas, Dubai, Dublin, D&uuml;sseldorf, Frankfurt, Hamburg, Hanoi, Ho Chi Minh City, Hong Kong, Houston, Istanbul, Jakarta (associated
office), London, Los Angeles, Luxembourg, Madrid, Milan, Munich, New York, Paris, Perth, Prague, Riyadh, Rome, San Francisco, S&atilde;o
Paulo, Seoul, Shanghai, Silicon Valley, Singapore, Sydney, Tokyo, Toronto, Warsaw, Washington, D.C.</FONT></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>SCOPE OF REVIEW AND RELIANCE </B></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the purposes of this opinion letter,
we have reviewed such documents, and made such other investigation, as we have deemed appropriate including without limitation:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Memorandum and Articles of Association of the English Issuer, certified as being those now in force;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Memorandum and Articles of Association of each of WPP 2005 and WPP Jubilee, certified as being those
now in force;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">a certified copy of the minutes of a meeting
of the Board of Directors of the English Issuer held on 17 March 2026;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">a certified copy of the minutes of a meeting
of the Board of Directors of WPP 2005 held on 17   March 2026;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">a certified copy of the minutes of a meeting
of the Board of Directors of WPP Jubilee held on 17 March 2026;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">a certificate from an authorised signatory of the English Issuer as to, <I>inter alia</I>, the resolutions
passed at meetings referred to in (c) above and to the effect that there will be no contravention of any borrowing limit to which the
English Issuer is subject as a result of the issue of any Notes by the English Issuer;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">a certificate from an authorised signatory of WPP 2005 as to, <I>inter alia</I>, the resolutions passed
at meetings referred to in (d) above and to the effect that there will be no contravention of any borrowing limit to which WPP 2005 is
subject as a result of the issue of any Notes and the giving of the Guarantees in respect of any Notes by WPP 2005;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">a certificate from an authorised signatory of WPP Jubilee as to, <I>inter alia</I>, the resolutions passed
at meetings referred to in (e) above and to the effect that there will be no contravention of any borrowing limit to which WPP Jubilee
is subject as a result of the issue of any Notes and the giving of the Guarantees in respect of any Notes by WPP Jubilee;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Registration Statement on Form F-3 relating
to the Notes and the Guarantees dated 19 March 2026 (the <B>Registration Statement</B>);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">The form of Indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">the forms of the Notes and the Guarantees as set out in the Indenture.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Indenture, the Notes and the Guarantees
are each referred to in this opinion as a <B>Transaction Document</B> and, together, the <B>Transaction Documents</B>.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>ASSUMPTIONS </B></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We have assumed that, so far as the laws
of every jurisdiction other than England are concerned, all restrictions, laws, guidelines, regulations or reporting requirements that
apply to the Indenture and any issue of Notes and Guarantees thereunder have been complied with and that such laws do not qualify or affect
our opinion as set out below.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

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<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We have also made the following assumptions,
which we have not independently verified or established and on which we express no opinion:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">insofar as any obligation falls to be performed in any jurisdiction outside England, its performance will
not be illegal or ineffective by virtue of the laws of that jurisdiction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all signatures or other indicators of execution on the executed documents which, or copies (whether photocopies,
certified copies, facsimile copies or electronic copies) of which, we have examined are genuine and that such copies confirm to the original
documents executed and that all applicable procedures for execution of such documents or that are required for the affixing of any indicator
of execution have been complied with by the parties thereto;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">each of the parties to the Transaction Documents, other than the English Issuer, WPP 2005 and WPP Jubilee,
is able lawfully to enter into such Transaction Document;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">each person who acts or acted as a director of the English Issuer, WPP 2005 or WPP Jubilee in relation
to the (a) authorisation, execution, entry into or delivery of the Transaction Documents and/or (b) authorisation, execution, delivery
or issue of any Notes or any Guarantee is or was a director at all relevant times;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">all Notes will only be issued in compliance with the restrictions contained the Indenture and any relevant
underwriting agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the execution and delivery of the Transaction Documents have been or will be duly authorised by each of
the parties thereto, other than the English Issuer, WPP 2005 and WPP Jubilee, and that such documents have been or will be duly executed
and delivered by such parties (other than, subject to paragraph (b) above, the English Issuer, WPP 2005 and WPP Jubilee);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">the issue of Notes has been duly authorised by the English Issuer and that each Note (when issued) will
have been duly issued;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">each of the parties to the Transaction Documents who is carrying on, or purporting to carry on, any regulated
activity in the United Kingdom is an authorised person permitted to carry on that relevant regulated activity or an exempt person in respect
of that regulated activity under the Financial Services and Markets Act 2000 (the FSMA) and no such agreement was or will be entered into
in consequence of a communication made in breach of section 21(1) of the FSMA;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Notes of each tranche will be duly prepared and completed in accordance with the provisions and arrangements
contained or described in the Indenture and will be in the form of the Global Notes as provided for and set out in the Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">the Memorandum and Articles of Association of the English Issuer, WPP 2005 and WPP Jubilee which we have
examined are those in force and the resolutions of the Board of Directors of the English Issuer and the resolutions of the Boards of Directors
of WPP 2005 and WPP Jubilee which we have examined were passed at meetings duly convened and held, have not been amended, rescinded, modified
or revoked and are in full force and effect and the certifications referred to in 1(a) to (h) above are true and accurate;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">neither the issue of Notes nor the giving of the Guarantees will cause any limit on borrowings to which
any of the English Issuer, WPP 2005 or WPP Jubilee is subject to be exceeded;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">each issue of Notes in respect of which particular restrictions, laws, guidelines, regulations or reporting
requirements apply in England will only be issued in circumstances which comply with such restrictions, laws, guidelines, regulations
or reporting requirements as apply from time to time;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">the absence of any other arrangements between any of the parties to the Transaction Documents which modify
or supersede any of their terms;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">the English Issuer is neither an authorised person nor an exempt person in relation to the regulated activity
of accepting deposits under the FSMA;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">no request has been or will be made to admit any Notes to trading on a UK regulated market (as defined in the Markets
in Financial Instruments Regulation ((EU) No 600/2014) as it forms part of English law);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">having had regard to all matters they considered relevant (including in relation to (i) below, those set
out in section 172 of the Companies Act 2006 and, in relation to (ii) below, the financial position of the Issuers), the Directors of
each of WPP 2005 and WPP Jubilee concluded in good faith and on reasonable grounds that (i) the giving of the relevant Guarantees would
promote the success of WPP 2005 or, as the case may be, WPP Jubilee for the benefit of its members as a whole and (ii) a claim was unlikely
to be made on the relevant Guarantees; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">all documents presented to us as originals are true and accurate and all documents submitted to us as
copies (including faxed copies) conform with the originals and that any documents in draft form which we have examined for the purposes hereof will not change when in final form in such a way as
could affect our opinion herein.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>LIMITATIONS </B></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Our opinion is confined solely to English
law.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Transaction Documents are expressed
to be governed by the laws of the State of New York. We have made no investigation of such laws and do not express or imply any opinion
on such laws. In addition, we have assumed that, so far as the laws of the State of New York and US securities laws are concerned, the
Transaction Documents constitute or will, on issue in accordance with the Indenture, constitute legal, valid and binding obligations of
the English Issuer, WPP 2005 and WPP Jubilee and that such laws do not qualify or affect our opinion as set out below.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>OPINIONS </B></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On the basis of the foregoing, and having
regard to such legal considerations as we deem relevant and subject as set out below, we are of the opinion that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify">So far as English law is concerned, when (a) the Registration Statement has become effective under the
Securities Act and (b) the Notes of each Tranche have been duly authorised and executed by the English Issuer and authenticated in accordance
with the terms of the Indenture and delivered in the manner provided in the Indenture, there is no reason why the obligations assumed
by the English Issuer under the Notes of each Tranche should not constitute legal, valid, binding and enforceable obligations of the English
Issuer.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: justify">The giving of the Guarantees has been duly authorised by WPP 2005 and WPP Jubilee and, so far as English
law is concerned, when (a) the Registration Statement has become effective under the Securities Act, (b) the Notes of each Tranche have
been duly executed by the relevant Issuer and authenticated in accordance with the terms of the Indenture and (c) the Guarantees have
been duly executed in accordance with the terms of the Indenture, there is no reason why the obligations assumed by WPP 2005 and WPP Jubilee
under the Guarantees should not constitute legal, valid, binding and enforceable obligations of WPP 2005 and WPP Jubilee, respectively.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/13pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">QUALIFICATIONS</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Nothing in this opinion shall be taken
as implying that an English court would exercise jurisdiction in any proceedings relating to the Transaction Documents or accordingly
that any remedy would be available in England for the enforcement of obligations arising under the Transaction Documents or that an English
court would respect the submission by the English Issuer, WPP 2025 and WPP Jubilee to the jurisdiction of the State of New York courts
in the Transaction Documents.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0">This opinion is subject to the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">There could be circumstances in which an English court would not treat as conclusive those certificates
and determinations which the Transaction Documents state are to be so treated.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Any provision in the Transaction Documents which involves an indemnity for the costs of litigation is
subject to the discretion of the court to decide whether and to what extent a party to litigation should be awarded the costs incurred
by it in connection with the litigation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Any provision in any agreement or deed which amounts to an undertaking to assume the liability on account
of the absence of payment of stamp duty or an indemnity to pay stamp duty may be void.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The term <B>enforceable</B> means that each obligation or document is of a type and form enforced by the
English courts. It is not certain, however, that each obligation or document will be enforced in accordance with its terms in every circumstance,
enforcement being subject to, <I>inter alia</I>, the nature of the remedies available in the English courts, the acceptance by such courts
of jurisdiction, the power of such courts to stay proceedings, the fact that claims may be time-barred or subject to defences of set-off
or counterclaim, and other principles of law and equity of general application.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The opinions set out above are subject to (i) all applicable limitations arising from bankruptcy, insolvency,
liquidation, administration, reorganisation, moratorium, reconstruction or similar laws and (ii) all applicable laws (including principles of law) of general application affecting the rights of contractual parties and/or creditors.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">If the performance by the English Issuer, WPP 2005 or WPP Jubilee of an obligation under any agreement
or deed or the Notes or the Guarantees is contrary to the exchange control regulations of a member of the International Monetary Fund,
that obligation may be unenforceable in England by virtue of Article VIII(2)(b) of the International Monetary Fund Agreement (as incorporated
into law by the International Monetary Fund Act 1979 and the Bretton Woods Agreements Order in Council SI 1946/36).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">The Registration Statement has been prepared by the Issuers and the Guarantors, which have accepted
responsibility for the information contained therein. We have not investigated or verified the truth or accuracy of the information contained
in the Registration Statement, nor have we been responsible for ensuring that no material information has been omitted from it.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">The effectiveness of terms exculpating a party from a liability or duty otherwise owed is limited by law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Any guarantee given by a company incorporated under the laws of England may be unenforceable if giving
that guarantee amounts to an unlawful distribution to its shareholders or an unlawful reduction in its capital. There are no decided cases
on the point but, in our opinion, the giving of the Guarantees should not amount to a distribution or reduction in capital if, at the
time the relevant Guarantee is given, the directors of the company conclude in good faith and on reasonable grounds that a claim is unlikely
to be made on the relevant Guarantee.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">Provisions restricting the way in which a document may be amended (for example, by requiring amendments
to be in writing) are generally effective, but a party to a document may be prevented by its conduct from relying on such provisions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">This opinion does not address the direct or indirect effects of any sanctions or similar measures in relation
to any party to any of the documents we have examined or the transactions contemplated thereby, and accordingly such matters are beyond
the scope of this opinion.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">There is doubt as to the enforceability in England and Wales of US judgments in respect of civil judgments
predicated purely on US securities law.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">No account has been taken in this opinion of the future exercise of powers by the UK Government pursuant
to section 5(4) of the Protection of Trading Interests Act 1980.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">Insofar as any obligation under the Transaction Documents is to be performed in any jurisdiction other
than England, an English court may have to have regard to the law of that jurisdiction in relation to the manner of performance and the
steps to be taken in the event of defective performance.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">We express no opinion as to whether specific performance, injunctive relief or any other form of equitable
remedy would be available in respect of any obligation of the English Issuer, WPP 2005 or WPP Jubilee under or in respect of the Transaction
Documents.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">Any trust established pursuant to the Indenture may be set aside by an English court if at the time of
the relevant deposit the English Issuer or either WPP 2005 or WPP Jubilee is unable to pay its debts within the meaning of Section 123
of the Insolvency Act 1986 or becomes unable to pay its debts within the meaning of that section as a consequence of the relevant deposit.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This opinion, which shall be construed
in accordance with English law, is given to the Issuers in connection with the registration under the Securities Act of the Notes. This
opinion is not addressed to the holders of Notes or Guarantees and may not be passed on to, or relied upon by, any holder or any other
person for any purpose. You may not give copies of this opinion to others without our prior written permission.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We consent to the filing of this opinion
as Exhibit 5.2 to the Registration Statement and to the reference to us under the heading &lsquo;Validity of Securities&rsquo; in the
prospectus that is a part of the Registration Statement. In giving such consent, we do not admit that we are included in the category
of persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules and regulations of the U.S. Securities and
Exchange Commission thereunder.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This opinion is given on the basis of
English law in force and applied by English courts at the date of this opinion and on the basis that there has been no amendment to, or
termination or replacement of, any of the documents examined by us and no change in any of the facts assumed by us for the purposes of
giving this opinion. It is also given on the basis that we have no obligation to notify any addressee of this opinion of any change in
English law or its application after the date of this opinion.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Yours faithfully,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">/s/ Allen Overy Shearman Sterling LLP</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: justify">ALLEN OVERY SHEARMAN STERLING LLP<B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

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<TYPE>EX-5.3
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<FILENAME>ss5271995_ex0503.htm
<DESCRIPTION>OPINION OF MOURANT OZANNES (JERSEY) LLP
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left"></P>

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<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 75%"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 54px; width: 272px">&nbsp;</TD>
  <TD STYLE="width: 25%"><P STYLE="color: #333333; font: 7pt/92% Segoe UI Light; margin: 0; letter-spacing: 0.2pt">Mourant Ozannes (Jersey) LLP</P>

<P STYLE="color: #333333; font: 7pt/92% Segoe UI Light; margin: 0; letter-spacing: 0.2pt">22 Grenville Street<BR>
St Helier<BR>
Jersey JE4 8PX<BR>
Channel Islands</P>

<P STYLE="color: #333333; font: 7pt/92% Segoe UI Light; margin: 0; letter-spacing: 0.2pt">&nbsp;</P>

<P STYLE="color: #333333; font: 7pt/92% Segoe UI Light; margin: 0; letter-spacing: 0.2pt">T +44 1534 676 000<BR>
F +44 1534 676 333</P>
</TD></TR>
</TABLE>

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

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">To each Addressee listed in the Schedule to this opinion</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">(each an <B>Addressee</B>)</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">19 March 2026</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">Our ref:&#9;8074133/254616748/6</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">Dear Sirs</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify"><B>WPP plc (the Parent Guarantor) - guarantee
of debt securities to be issued by each of WPP Finance 2020 and WPP 2025 LLC (each an Issuer)</B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">We act as the Jersey legal counsel to the Parent
Guarantor.</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">We understand that pursuant to the Base Indenture
(as defined below), each Issuer may, from time to time, issue debt securities (<B>Securities</B>) under the US Securities Act of 1933,
as amended (the <B>Securities Act</B>), in one or more series (each, a <B>Series</B>) by executing a supplemental indenture (each, a <B>Supplemental
Indenture</B>) which constitutes, and sets out the specific terms of, the Securities of the relevant Series.</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">We also understand that the Securities of each
Series will be:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">guaranteed by the Parent Guarantor, WPP&nbsp;Jubilee
                                            Limited and WPP 2005 Limited (together, the <B>Guarantors</B>), pursuant to a guarantee (the
                                            <B>Guarantee</B>) for the Securities of that Series contained in Article 13 (<I>Guarantee
                                            of Securities</I>) of the Base Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">registered under the Securities Act and will be offered to US investors pursuant to the Base Prospectus
(as defined below) and a prospectus supplement (each, a <B>Prospectus Supplement</B>) for the Securities of that Series; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">represented by a global security in registered form (each, a <B>Global Security</B>) for the Securities
of that Series to be issued by the relevant Issuer in the form set out in Article 2 (<I>Security Forms</I>) of the Base Indenture.</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">We have been asked by the Parent Guarantor
to give this opinion in connection with the registration of Securities under the Securities Act.</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 7pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">Mourant Ozannes (Jersey) LLP is registered as a limited liability partnership in Jersey with registered
number LLP112</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Documents examined</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.1</TD><TD STYLE="text-align: justify">For the purposes of this opinion, we have examined a copy of each of the following documents:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">an indenture (the <B>Base Indenture</B>) to be entered into between each Issuer, the Guarantors,
                                                               Wilmington Trust, National Association as trustee (in such capacity, the <B>Trustee</B>) and Citibank, N.A., as registrar and paying agent;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a registration statement on Form F-3 (the <B>Registration Statement</B>) relating to the Securities, which
includes a base prospectus dated 19 March 2026 (the <B>Base Prospectus</B>);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the following resolutions of the board of directors of the Parent Guarantor (together, the <B>Director
Resolutions</B>): (i) resolutions passed on 11 May 2020 pursuant to which the directors resolved (among other things) to establish a board
executive committee (the <B>Board Executive Committee</B>) of the board of directors; and (ii) resolutions passed on 5 August 2025 pursuant
to which the board of directors resolved (amongst other things, to approve, in principle, the Parent Guarantor's guarantee of each Series
of Securities and delegate to the Board Executive Committee full power to (among other things) approve the Parent Guarantor's entry into
the Base Indenture and each Supplemental Indenture and its guarantee of each Series of Securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">resolutions of the Board Executive Committee of the Parent Guarantor passed in writing on 17 March 2026 (the <B>Board Executive Committee Resolutions</B>) pursuant to which the Board Executive Committee resolved (among other
                                                               things) that the Parent Guarantor should enter into the Base Indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the Parent Guarantor's memorandum and articles of association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.2</TD><TD STYLE="text-align: justify">We have relied on a certificate of the company secretary of the Parent Guarantor dated 19 March
2026 (the <B>Opinion Certificate</B>) a copy of which is attached to this opinion. We have not verified, and express no opinion on, the
accuracy of the matters contained in the Opinion Certificate.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.3</TD><TD STYLE="text-align: justify">We have not examined for these purposes any other agreements or other documents (the <B>Other Documents</B>)
to be entered into by the Parent Guarantor (including, without limitation, any Supplemental Indenture or any documents incorporated by
reference in or otherwise referred to in the Base Indenture or the Registration Statement) and we offer no opinion on any such Other Document.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Assumptions</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">We have assumed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">each document examined by us (and any signature, initial, stamp or seal on it) is genuine and, where it
is a copy, it conforms to the original document and that, in the case of the Base Indenture, it will be executed by all parties thereto
in substantially the same form as the last draft examined by us;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.2</TD><TD STYLE="text-align: justify">the Opinion Certificate remains accurate;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.3</TD><TD STYLE="text-align: justify">each director of the Parent Guarantor (and any alternate) has disclosed to the Parent Guarantor any interests
that, directly or indirectly, conflict or may conflict to a material extent with the interests of the Parent Guarantor and any of its
subsidiaries with regard to the transactions and other matters recorded in the Director Resolutions and the Board Executive Committee
Resolutions and such disclosures are recorded in the Board Executive Committee Resolutions, or previous board minutes, of the Parent Guarantor;</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">the Director Resolutions and the Board Executive Committee Resolutions, in each case, were duly passed,
are in full force and effect and have not been amended, revoked or superseded and any meeting at which such resolutions were passed was
duly convened and quorate throughout;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="text-align: justify">each party to the Base Indenture and each Supplemental Indenture (other than the Parent Guarantor as a
matter of Jersey law) will have:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the capacity and power;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">taken all the necessary action; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">obtained all the necessary agreements, approvals, authorisations, consents, licences, registrations or
qualifications (whether as a matter of any law or regulation applicable to it or as a matter of any contract binding upon it),</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">to execute and perform
its obligations under the Base Indenture and each Supplemental Indenture and that the Base Indenture and each Supplemental Indenture will
have been duly executed by each such party;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.6</TD><TD STYLE="text-align: justify">the Base Indenture and each Supplemental Indenture will be, legal, valid, binding and enforceable in accordance
with their respective terms as a matter of all applicable laws other than Jersey law;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.7</TD><TD STYLE="text-align: justify">that the opinion expressed below will not be affected by the laws (including public policy) of any jurisdiction
outside Jersey and in particular but without limiting the generality of the foregoing:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">that there are no provisions of the laws of any jurisdiction outside Jersey which would be contravened
by the execution, delivery or performance of the Base Indenture or any Supplemental Indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">that there has been, and there will be, due compliance with all matters of every applicable law (other
than Jersey law);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.8</TD><TD STYLE="text-align: justify">in causing the Parent Guarantor to enter into the Base Indenture and each Supplemental Indenture, each
of the directors of the Parent Guarantor will be acting in good faith with a view to the best interests of the Parent Guarantor and will
be exercising the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.9</TD><TD STYLE="text-align: justify">the Parent Guarantor is able to pay its debts as they fall due and will not become unable to do so by
virtue of the execution of the Base Indenture or any Supplemental Indenture or the performance of the transactions contemplated thereby
and no steps have been taken or resolutions passed to wind up the Parent Guarantor;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.10</TD><TD STYLE="text-align: justify">the Parent Guarantor, in entering into the Base Indenture and each Supplemental Indenture will be, acting
as principal on its own behalf and not as an agent or trustee or in any other capacity;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.11</TD><TD STYLE="text-align: justify">that, for each Series of Securities, prior to the issue of that Series of Securities:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the relevant Issuer and the Guarantors will prepare and file with the US Securities and Exchange Commission
a Prospectus Supplement; and</TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the relevant Issuer, the Guarantors and the Trustee will execute and deliver a Supplemental Indenture
governed by New York law,</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">which set outs the
terms and conditions for the Securities of that Series;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.12</TD><TD STYLE="text-align: justify">that the powers conferred on the Board Executive Committee, as set out in the extract of the Director
Resolutions referred to in paragraph&nbsp;1.1(c) above, will remain in full force and effect and will not be amended or revoked;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.13</TD><TD STYLE="text-align: justify">that, in relation to each Series of Securities, the Board Executive Committee will duly approve and authorise,
in accordance with the Parent Guarantor's articles of association, the Parent Guarantor's entry into, and execution of, the Supplemental
Indenture for that Series of Securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.14</TD><TD STYLE="text-align: justify">that, for each Series of Securities, the Global Security for that Series of Securities will:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">be fully and properly completed to reflect the terms and conditions of the Securities of that Series;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">be duly executed by the relevant Issuer and duly dated, authenticated, issued and delivered in accordance
with the Base Indenture,</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">and all necessary entries
will be made in the Securities Register (as defined in the Base Indenture) in respect of the issue of the Global Security;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.15</TD><TD STYLE="text-align: justify">that, for each Series of Securities, all necessary acts or formalities required under the Base Indenture
to ensure that the Guarantee will be valid and effective in relation to that Series of Securities will be taken or observed;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.16</TD><TD STYLE="text-align: justify">that the Parent Guarantor's entry into, and the performance of its obligations (including its obligations
under the Guarantee) under, the Base Indenture and each Supplemental Indenture will not cause the Parent Guarantor to breach the limitation
on borrowing contained in Article&nbsp;84 (Power to borrow money) of its articles of association;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.17</TD><TD STYLE="text-align: justify">that, in relation to each Series of Securities, none of the terms of the Supplemental Indenture for that
Series of Securities would affect this opinion in any way;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.18</TD><TD STYLE="text-align: justify">that no money or other property of the Parent Guarantor over which the Trustee has, or purports to have,
a lien under Article 6.7 (<I>Compensation and Reimbursement</I>) of the Base Indenture is, or will be, situated in Jersey;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.19</TD><TD STYLE="text-align: justify">there are no:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">arrangements, agreements or deeds to which the Parent Guarantor is party (other than its memorandum and
articles of association); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">resolutions passed by the Parent Guarantor,</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">the terms of which
could affect, conflict with, or be breached by, the terms of the Base Indenture or any Supplemental Indenture; and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.20</TD><TD STYLE="text-align: justify">that no event occurs after the date of this opinion that would affect this opinion.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Opinion</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">Subject
as provided above and to the observations and qualifications hereinafter appearing and to matters not disclosed to us, we are of the opinion
that, once the Base Indenture has been duly dated, executed and delivered by the parties to it, the obligations to be assumed by the Parent
Guarantor under the Guarantee will constitute valid, legal, binding and enforceable obligations of the Parent Guarantor.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Qualifications and observations</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify">Our opinion is subject to the following
qualifications and observations:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify">This opinion is subject to all laws relating to bankruptcy, dissolution, insolvency, mandatory insolvency
set-off, re-organisation, winding up, liquidation, moratorium, court schemes, civil and criminal asset confiscation, recovery and forfeiture
and bank recovery and resolution and other laws and legal procedures of general application affecting the rights of creditors or secured
creditors.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: justify">Notwithstanding that the obligations in the Base Indenture are of a type which the Jersey courts would
generally enforce, they may not necessarily be capable of enforcement in all circumstances in accordance with their terms. In particular,
but without limitation:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">enforcement may be limited by general principles of equity (for example, equitable remedies such as specific
performance and injunction are discretionary and may not be available where damages are an adequate remedy);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">obligations may be void or voidable by reason of duress, fraud, misrepresentation, mistake or undue influence;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">contractual obligations that are regarded as penalties (for example, default interest provisions) may
not be enforceable or may be reduced if found to exceed the maximum damages which the claimant could have suffered as a result of a breach
of contract;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Jersey courts will not enforce the terms of an agreement if:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(i)</TD><TD STYLE="text-align: justify">they are, or their performance would be, illegal in a jurisdiction other than Jersey or contrary to public
policy in Jersey or in another jurisdiction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(ii)</TD><TD STYLE="text-align: justify">the parties have an illegal purpose that is not apparent from its express terms; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(iii)</TD><TD STYLE="text-align: justify">they would breach applicable exchange control regulations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the Jersey courts may not enforce the terms of an agreement that:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(i)</TD><TD STYLE="text-align: justify">provide for the payment or reimbursement of, or indemnity against, the costs of litigation or enforcement
proceedings brought before Jersey or foreign courts or where such courts have themselves made an order for costs;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(ii)</TD><TD STYLE="text-align: justify">constitute an agreement to negotiate or an agreement to agree;</TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><FONT STYLE="font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></FONT></P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(iii)</TD><TD STYLE="text-align: justify">would involve the enforcement of any foreign revenue, penal or other public laws or an indemnity given
in respect of any of these laws;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(iv)</TD><TD STYLE="text-align: justify">relate to confidentiality (which may be overridden by the requirements of legal process);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(v)</TD><TD STYLE="text-align: justify">provide that failure or delay by a party in exercising a right or remedy does not operate as a waiver
of that right or remedy;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(vi)</TD><TD STYLE="text-align: justify">provide that any of the terms of that agreement can only be amended or waived in writing (and not orally
or by course of conduct); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(vii)</TD><TD STYLE="text-align: justify">permit the severance of illegal, invalid or unenforceable terms;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the Jersey courts may hold that a judgment of a Jersey or foreign court given in respect of an agreement
supersedes the agreement (so that, for example, any obligations relating to the payment of interest after the judgment or any currency
indemnities would not be held to survive the judgment);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">the Jersey courts may refuse to allow unjust enrichment or to give effect to any provisions of an agreement
that they consider usurious;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">provisions in an agreement or in articles of association that purport to restrict the exercise of a statutory
power may not be enforceable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">claims may become time barred or may be subject to rights and defences of abatement, acquiescence, counterclaim,
estoppel, frustration, laches, set-off, waiver and similar rights and defences;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">the effectiveness of terms that seek to exclude or limit a liability or duty otherwise owed, or to indemnify
a person in respect of a loss caused by the act or omission of that person, may be limited by law;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">subject to limited exceptions, only a party to an agreement governed by Jersey law may enforce its terms;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">where any party to an agreement is party to it in more than one capacity that party may not be able to
enforce obligations purportedly owed by it to itself.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: justify">We have made no enquiry or assessment as to whether the Parent Guarantor will be in a position to fulfil
its obligations under the Base Indenture.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.4</TD><TD STYLE="text-align: justify">We offer no opinion as to whether the acceptance, execution or performance of the Parent Guarantor's obligations
under the Base Indenture will result in the breach of or infringe any other agreement, deed or arrangement entered into by or binding
on the Parent Guarantor other than the Parent Guarantor's articles of association.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.5</TD><TD STYLE="text-align: justify">Any provision of the Base Indenture providing for the payment of additional monies consequent on the breach
of any provision thereof by any person expressed to be a party thereto or entitled to the benefit thereof, whether expressed by way of
penalty, additional interest, liquidated damages or otherwise, may be unenforceable or liable to be reduced if such additional payment
were held to be excessive in so far as it unreasonably exceeds the maximum damages which the claimant could have suffered as a result
of such breach.</TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"><FONT STYLE="font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></FONT></P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.6</TD><TD STYLE="text-align: justify">Provisions as to severability contained in the Base Indenture may not be binding and the question of whether
or not provisions may be severed would be determined by the Jersey courts at their discretion.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.7</TD><TD STYLE="text-align: justify">On application of a liquidator (in the course of the insolvent winding-up of a Jersey company) or of the
Viscount (in the course of a <I>d&eacute;sastre</I>):</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">if a person has:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">entered into a transaction with a person at an undervalue during the period of 5&nbsp;years immediately
preceding the commencement of the winding-up or the making of the declaration that the property of the person is <I>en d&eacute;sastre</I>;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">given a preference to a person, during the period of 12&nbsp;months immediately preceding the commencement
of the winding-up or the making of the declaration that the property of the person is <I>en d&eacute;sastre</I>; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">if at the time of such transaction or preference:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the person was unable to pay its debts as they fell due or became unable to pay its debts as they fell
due as a result of the transaction or preference; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">(in certain cases where the person entered into the transaction with or gave the preference to another
who was connected or associated with the person) it is not proved that the person was able to pay its debts as they fell due and did not
become unable to pay its debts as they fell due as a result of the transaction or preference,</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">the Jersey courts may
make such an order as the court thinks fit for restoring the position to what it would have been if the preference had not been given
or if the person had not entered into the transaction.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.8</TD><TD STYLE="text-align: justify">On application of a liquidator (in the course of the insolvent winding-up of a Jersey company) or of the
Viscount (in the course of a <I>d&eacute;sastre</I>), the Jersey courts may set aside, vary or make other orders in relation to an extortionate
credit transaction entered into by a person in the period of three years ending with the commencement of the winding-up (if the person
is a Jersey company) or the declaration that the property of the person is <I>en d&eacute;sastre</I>. For these purposes an extortionate
credit transaction is a transaction in which, having regard to the risk accepted by the person providing the credit, the terms of it are
such as to require grossly exorbitant payments to be made in respect of the provision of the credit or which otherwise grossly contravenes
ordinary principles of fair dealing.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.9</TD><TD STYLE="text-align: justify">The liquidator (in the course of the insolvent winding-up of a Jersey company) or the Viscount (in the
course of a <I>d&eacute;sastre</I>) may, within six months of the commencement of the winding-up or the making of the declaration that
the property of a person is <I>en d&eacute;sastre</I>, disclaim any onerous property of such Jersey company or such person. For these
purposes, onerous property is (a) any unprofitable contract; and (b) any of the following which is unsaleable or not readily saleable
or is such that it may give rise to a liability to pay money or perform any other onerous act: (i) any movable property (ii) any contract
lease and (iii) any other immovable property if it is situated outside Jersey. The counterparty to, or person entitled to the benefit
of, any such disclaimed contract or any person sustaining loss or damage in consequence of the operation of a disclaimer would have the
right to prove in the winding-up or <I>d&eacute;sastre</I> for the amount of its losses incurred as a result thereof.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.10</TD><TD STYLE="text-align: justify">An act of the directors of a company might be set aside by the Jersey courts in an action brought by,
for example, a creditor, shareholder or liquidator, if it were shown that the directors had exercised their powers for improper purposes
(with the actual or constructive notice of the other party).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.11</TD><TD STYLE="text-align: justify">Where a director fails, in accordance with the Companies (Jersey) Law 1991, to disclose an interest in
a transaction entered into by a Jersey company or its subsidiary which conflicts or may conflict to a material extent with the interests
of the company, the transaction is voidable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.12</TD><TD STYLE="text-align: justify">The Jersey courts will not apply New York law (the <B>proper law</B>) if:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">it is not pleaded and proved;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the selection of New York law was not <I>bona fide</I> and legal; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">to do so would be contrary to public policy.</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">Furthermore:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Jersey courts may apply a law other than the proper law (such as the law of the place an agreement
was made) to determine the formal validity of an agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">matters of procedure upon enforcement of an agreement and assessment or quantification of damages will
be determined by the Jersey courts in accordance with Jersey law;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the proprietary effects of an agreement may be determined by the Jersey courts in accordance with the
domestic law of the place where the relevant property is situate;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the mode of performance of an agreement may be determined by the Jersey courts in accordance with the
law of the place of performance; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the Jersey courts may not apply a foreign law expressly selected in an agreement to govern non-contractual
obligations arising out of, or in connection with, the agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.13</TD><TD STYLE="text-align: justify">The Jersey courts may hold that despite any term of an agreement to the contrary:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any certificate, calculation, determination or designation of any party to the agreement is not conclusive,
final or binding;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any person exercising any discretion, judgment or opinion under the agreement must act in good faith,
for a proper purpose and in a reasonable manner; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any power conferred by the agreement on one party to require another party to execute such documents or
do any things the first party requires must be exercised reasonably.</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.14</TD><TD STYLE="text-align: justify">Pursuant to the Powers of Attorney (Jersey) Law 1995:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">subject to paragraph (b) below, a power of attorney is revoked by the death, incapacity or bankruptcy
of a donor that is an individual or the bankruptcy or dissolution of a donor that is a body corporate;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">where a power of attorney is expressed to be irrevocable (for any period) and is given:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(i)</TD><TD STYLE="text-align: justify">for the purpose of facilitating the exercise of powers of a secured party under the Security Interests
(Jersey) Law 2012 (the <B>Security Law</B>) or of powers given pursuant to a security agreement (as defined in the Security Law); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(ii)</TD><TD STYLE="text-align: justify">pursuant to, or in connection with, or for the purpose of, or ancillary to, security governed by a law
other than Jersey law,</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: 0in">it is not revoked by
the death, incapacity, bankruptcy or dissolution of the donor; and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">subject to paragraphs (a) and (b) above, a power of attorney may be expressed to be irrevocable for any
period not exceeding one year from the date on which it is granted or the date on which it comes into effect, whichever is the later.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.15</TD><TD STYLE="text-align: justify">The Jersey courts may:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">not exercise or decline jurisdiction or stay or set aside proceedings (as appropriate) where:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(i)</TD><TD STYLE="text-align: justify">process cannot legally be served on a defendant outside Jersey;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(ii)</TD><TD STYLE="text-align: justify">an agreement provides that all disputes are to be referred to the exclusive jurisdiction of a court outside
Jersey;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(iii)</TD><TD STYLE="text-align: justify">there is an agreement to submit the subject matter of a dispute to arbitration or other dispute resolution
procedure;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(iv)</TD><TD STYLE="text-align: justify">there is a more appropriate forum than Jersey where the action should be tried;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(v)</TD><TD STYLE="text-align: justify">earlier or concurrent proceedings have been commenced outside Jersey; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 70.9pt"></TD><TD STYLE="width: 35.45pt">(vi)</TD><TD STYLE="text-align: justify">there has already been a final and conclusive judgment given on the merits by a foreign court with jurisdiction
according to Jersey conflict of laws rules;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">decline to stay proceedings in Jersey or grant leave to serve Jersey proceedings outside Jersey even if
an agreement provides that all disputes are to be referred to the exclusive jurisdiction of a court outside Jersey if it is satisfied
that there are strong reasons for doing so; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">grant injunctions in support of proceedings outside Jersey or restraining the commencement or continuance
of proceedings or arbitration outside Jersey.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.16</TD><TD STYLE="text-align: justify">Where a foreign court (being a court of any country or territory outside the United Kingdom other than
one for whose international relations the United Kingdom is responsible) has given a judgment for multiple damages against a qualifying
defendant the amount which may be payable by such defendant may be limited by virtue of the Protection of Trading Interests Act 1980 (as
extended to Jersey by the Protection of Trading Interests Act 1980 (Jersey) Order 1983) which provides that such qualifying defendant
may be able to recover such amount paid by it as represents the excess in such multiple damages over the sum assessed as compensation
by the court that gave the judgment.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.17</TD><TD STYLE="text-align: justify">Although there has been no decision in the Jersey courts regarding the enforceability of provisions that
purport to fetter any statutory power of a Jersey company, such provisions may not be enforceable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.18</TD><TD STYLE="text-align: justify">The enforceability of a person's obligations may be limited to the extent that such person successfully
pleads either:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the <I>droit de discussion</I> (whereby a guarantor may require the beneficiary of the guarantee to exhaust
the assets of the principal debtor before making a claim against the guarantor); or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the <I>droit de division</I> (whereby a co-obligor may require the person owed a joint obligation to make
simultaneous claims in appropriate proportions upon all the co-obligors, thereby limiting its own liability),</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in">unless the person has
expressly waived such rights.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.19</TD><TD STYLE="text-align: justify">Under the rules of procedure applicable, the Jersey courts may order a plaintiff in an action to provide
security for costs and will normally exercise this power in respect of a party who is not ordinarily resident in Jersey and/or who does
not have assets within the jurisdiction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.20</TD><TD STYLE="text-align: justify">We express no view on any provision in the Base Indenture requiring written amendments and waivers of
any of the provisions of the Base Indenture in so far as it suggests that oral or other modifications, amendments or waivers could not
be effectively agreed upon or granted by or between the parties or implied by the course of conduct of the parties.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.21</TD><TD STYLE="text-align: justify">The effectiveness of terms releasing or exculpating any party from, or limiting or excluding, a liability
or duty otherwise owed may be limited by law.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.22</TD><TD STYLE="text-align: justify">Where any party to any of the Base Indenture is party to the Base Indenture in more than one capacity,
that party may not be able to enforce obligations owed by it to itself.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.23</TD><TD STYLE="text-align: justify">There is no publicly available record of security interests in the tangible movable assets of Jersey companies
other than Jersey-registered ships.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Limitations</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="text-align: justify">This opinion is limited to the matters expressly stated in it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD STYLE="text-align: justify">We offer no opinion:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">on the commercial terms of the Base Indenture or any Supplemental Indenture or whether those terms reflect
the intentions of the parties;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">on any representation or warranty made or given in the Base Indenture or any Supplemental Indenture;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">as to whether the parties will perform their obligations under the Base Indenture or any Supplemental
Indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">as to the title or interest of the Parent Guarantor to or in, or the existence of, any property or collateral
the subject of the Base Indenture or any Supplemental Indenture.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.3</TD><TD STYLE="text-align: justify">We have made no investigation and express no opinion with respect to the laws of any jurisdiction other
than Jersey.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.4</TD><TD STYLE="text-align: justify">We assume no obligation to update the Addressees in relation to changes of fact or law that may have a
bearing on the continuing accuracy of this opinion.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Jersey law</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">This
opinion, and any non-contractual obligations arising out of it, are governed by Jersey law. This opinion is to be interpreted in accordance
with Jersey law and extra-statutory guidance issued by any governmental, regulatory or tax authority in Jersey in force on the date of
this opinion.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">Benefit of opinion</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.1</TD><TD STYLE="text-align: justify">This opinion is only addressed to, and for the benefit of, the Addressees. It is given solely in connection
with the registration of Securities under the Securities Act. This opinion may not, without our prior written consent, be transmitted
or disclosed to, or used or relied upon by, any other person (including, without limitation, any holder of, or holder of beneficial interests
in, any Securities) or be relied upon for any other purpose whatsoever.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.2</TD><TD STYLE="text-align: justify">We consent to the filing of a copy of this opinion as Exhibit&nbsp;5.3 to the Registration Statement and
to reference to us being made in the paragraph of the Base Prospectus headed &quot;Legal Matters&quot;. In giving this consent, we do
not admit that we are included in the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the
rules and regulations promulgated by the US Securities and Exchange Commission under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">Yours faithfully</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">/s/ Mourant Ozannes (Jersey) LLP</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Mourant Ozannes (Jersey) LLP</B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

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<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Schedule </B></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>WPP Finance 2010 </B></TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Sea Containers House</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">18 Upper Ground</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">London</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">United Kingdom</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">SE1 9GL</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>WPP 2025 LLC</B></TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">3 World Trade Center</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">175 Greenwich Street</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">New York NY 10007</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">United States</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>WPP plc</B></TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">22 Grenville Street</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">St Helier</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">JE4 8PX</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Jersey</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>WPP Jubilee Limited</B></TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Sea Containers House</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">18 Upper Ground</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">London</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">United Kingdom</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">SE1 9GL</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>WPP 2005 Limited</B></TD></TR></TABLE>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Sea Containers House</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">18 Upper Ground</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">London</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">United Kingdom</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">SE1 9GL</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">(each an <B>Addressee</B> and together, the <B>Addressees</B>)</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left"><BR>
</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>




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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>7
<FILENAME>ss5271995_ex2301.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</P>

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

<P STYLE="margin: 0">We hereby consent to the incorporation by reference in this Registration Statement on Form F-3 of WPP plc of
our report dated 19 March 2026 relating to the financial statements and the effectiveness of internal control over financial
reporting, which appears in WPP plc's Annual Report on Form 20-F for the year ended December 31, 2025. We also consent to the
reference to us under the heading &ldquo;Experts&rdquo; in such Registration Statement.</P>

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

<P STYLE="margin: 0">/s/ PricewaterhouseCoopers LLP<BR>
London,
United Kingdom<BR>
  19 March 2026</P>

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

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

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

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

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

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

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

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

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>8
<FILENAME>ss5271995_ex2302.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</P>

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

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">We consent to the incorporation by reference in this Registration Statement
on Form F-3 of our report dated 21 March 2024 (28 March 2025, as to Note 2) relating to the financial
statements of WPP plc, appearing in the Annual Report on Form 20-F of WPP plc for the year ended December 31, 2025. We also consent to
the reference to us under the heading &quot;Experts&quot; in such Registration Statement.</P>

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

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">/s/ Deloitte LLP</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">London, United Kingdom</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">19 March 2026</P>

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

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

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

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

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

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

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

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>9
<FILENAME>ss5271995_ex2501.htm
<DESCRIPTION>FORM T-1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM T-1</B></P>

<P STYLE="font: 11pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/11pt Courier New, Courier, Monospace; margin: 0; text-align: justify"><FONT STYLE="font-family: Wingdings"><B>o</B></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Check if an Application to Determine Eligibility of a Trustee Pursuant to Section
305(b)(2)</FONT></P>

<P STYLE="font: 11pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of trustee as specified in its charter)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>16-1486454</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. employer identification no.)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1100 North Market Street</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilmington, DE 19890-0001</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Kyle Barry</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Senior Vice President</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilmington Trust Company</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>285 Delaware Ave.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Buffalo, NY 14202</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(716) 839-6909</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, address and telephone number of agent for service)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WPP plc</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of obligor as specified in its charter)</P>
    <P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Jersey</B></FONT></TD>
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Courier New, Courier, Monospace; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Not Applicable</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Courier New, Courier, Monospace; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD STYLE="font: 12pt Courier New, Courier, Monospace; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Sea Containers</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>18 Upper Ground</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>London SE1 9GL, United Kingdom</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Telephone: (011 44) 20 7282 4600</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices, including
zip code)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Debt Securities</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of the indenture securities)</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>TABLE OF CO-ISSUERS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Exact Name as Specified
    in Charter</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>State or Other
    Jurisdiction of Incorporation or Organization</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>I.R.S Employer
    Identification Number</B></P></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Address, Including
    Zip Code and Telephone Number, Including Area Code, of Principal Executive Offices</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">WPP Finance 2010</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">England and Wales</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Not Applicable</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sea Containers</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">18 Upper Ground</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">London SE1 9GL, United Kingdom</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (011 44) 20 7282 4600</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">WPP
    2025 LLC</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Delaware</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">39-3674912</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Corporate Creations Network Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">1521 Concord Pike, Suite 201,</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Wilmington DE 19803, United States</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (011 44) 20 7282 4600</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>__________________________</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><B>TABLE OF CO-REGISTRANTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Exact Name as Specified
    in Charter</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>State or Other
    Jurisdiction of Incorporation or Organization</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>I.R.S Employer
    Identification Number</B></P></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Address, Including
    Zip Code and Telephone Number, Including Area Code, of Principal Executive Offices</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">WPP Jubilee Limited</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">England and Wales</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Not Applicable</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sea Containers</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">18 Upper Ground</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">London SE1 9GL, United Kingdom</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (011 44) 20 7282 4600</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">WPP 2005 Limited</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">England and Wales</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Not Applicable</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sea Containers</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">18 Upper Ground</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">London SE1 9GL, United Kingdom</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (011 44) 20 7282 4600</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>__________________________</B></P>

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

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

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

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 1. GENERAL INFORMATION.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Furnish the following information as to the trustee:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 30pt">(a)</TD><TD>Name and address of each examining or supervising authority to which it is subject.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 78pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 78pt">Comptroller of Currency, Washington, D.C.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 78pt">Federal Deposit Insurance Corporation, Washington, D.C.<BR>
<BR>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 30pt">(b)</TD><TD>Whether it is authorized to exercise corporate trust powers.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-indent: -0.25in">The trustee is authorized to exercise
corporate trust powers.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>ITEM 2.</B></TD><TD><B>AFFILIATIONS WITH THE OBLIGOR.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in">If the obligor is an affiliate of the trustee, describe
each affiliation:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Based upon an examination of the books and records of the trustee
and information available to the trustee, the obligor is not an affiliate of the trustee.&#9;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 3 &ndash; 15. </B>Not Applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; line-height: normal; word-spacing: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 48pt"><FONT STYLE="letter-spacing: normal; line-height: normal; word-spacing: normal"><B>ITEM
                          16.</B></FONT></TD><TD><FONT STYLE="letter-spacing: normal; line-height: normal; word-spacing: normal"><B>LIST
                                            OF EXHIBITS.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 84pt; text-indent: -48pt"><FONT STYLE="letter-spacing: normal; line-height: normal; word-spacing: normal">Listed
below are all exhibits filed as part of this Statement of Eligibility and Qualification.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; line-height: normal; word-spacing: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">1.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">A
                                            copy of the Charter for Wilmington Trust, National Association.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">2.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">The
                                            authority of Wilmington Trust, National Association to commence business was granted under
                                            the Charter for Wilmington Trust, National Association, incorporated herein by reference
                                            to Exhibit 1 above.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">3.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">The
                                            authorization to exercise corporate trust powers was granted under the Charter for Wilmington
                                            Trust, National Association, incorporated herein by reference to Exhibit 1 above.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">4.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">A
                                            copy of the existing By-Laws of Trustee, as now in effect, incorporated herein by reference
                                            to Exhibit 4of this Form T-1.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">5.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">Not
                                            applicable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">6.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">The
                                            consent of Wilmington Trust, National Association as required by Section 321(b) of the Trust
                                            Indenture Act of 1939, attached hereto as Exhibit 6 of this Form T-1.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">7.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">Current
                                            Report of the Condition of Wilmington Trust, National Association, published pursuant to
                                            law or the requirements of its supervising or examining authority, attached hereto as Exhibit
                                            7 of this Form T-1. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">8.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">Not
                                            applicable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">9.</FONT></TD><TD><FONT STYLE="font-size: 11pt; letter-spacing: normal; line-height: normal; word-spacing: normal">Not
                                            applicable.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Trust Indenture Act of 1939, as amended,
the trustee, Wilmington Trust, National Association, a national banking association organized and existing under the laws of the United
States of America, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned, thereunto duly authorized,
all in the City of New York and State of New York on the 19<SUP>th</SUP> day of March 2026.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt"><B>WILMINGTON
    TRUST, NATIONAL ASSOCIATION</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 12pt; text-indent: -12pt; width: 10%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif; vertical-align: top; width: 39%">/s/ Arlene Thelwell</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Arlene Thelwell</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Vice President</TD></TR>
</TABLE>

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



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 1</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHARTER OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARTICLES OF ASSOCIATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the purpose of organizing an association to perform
any lawful activities of national banks, the undersigned do enter into the following articles of association:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FIRST.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The title of this association shall be Wilmington Trust, National
Association.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SECOND.&#9;The main office of the association shall be in the City of Wilmington,
County of New Castle, State of Delaware. The general business of the association shall be conducted at its main office and its branches.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">THIRD.&#9;&nbsp;&nbsp;&nbsp;The board of directors of this association shall consist of not
less than five nor more than twenty-five persons, unless the OCC has exempted the bank from the 25-member limit. The exact number is to
be fixed and determined from time to time by resolution of a majority of the full board of directors or by resolution of a majority of
the shareholders at any annual or special meeting thereof. Each director shall own common or preferred stock of the association or of
a holding company owning the association, with an aggregate par, fair market or equity value $1,000. Determination of these values may
be based as of either (i) the date of purchase or (ii) the date the person became a director, whichever value is greater. Any combination
of common or preferred stock of the association or holding company may be used.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Any vacancy in the board of directors may be filled
by action of a majority of the remaining directors between meetings of shareholders. The board of directors may not increase the number
of directors between meetings of shareholders to a number which:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">1)</FONT></TD><TD><FONT STYLE="font-size: 11pt">exceeds by more than two the number of directors last elected by shareholders where the number was 15
or less; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">2)</FONT></TD><TD><FONT STYLE="font-size: 11pt">exceeds by more than four the number of directors last elected by shareholders where the number was
16 or more, but in no event shall the number of directors exceed 25, unless the OCC has exempted the bank from the 25-member limit.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13.8pt Times New Roman, Times, Serif; margin: 0 0 13.6pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt/13.8pt Times New Roman, Times, Serif; margin: 0 0 13.6pt; text-indent: 0.25in">Directors shall be elected for terms
of one year and until their successors are elected and qualified. Terms of directors, including directors selected to fill vacancies,
shall expire at the next regular meeting of shareholders at which directors are elected, unless the directors resign or are removed from
office. Despite the expiration of a director's term, the director shall continue to serve until his or her successor is elected and qualifies
or until there is a decrease in the number of directors and his or her position is eliminated.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Honorary or advisory members of the board of directors,
without voting power or power of final decision in matters concerning the business of the association, may be appointed by resolution
of a majority of the full board of directors, or by resolution of shareholders at any annual or special meeting. Honorary or advisory
directors shall not be counted to determine the number of directors of the association or the presence of a quorum in connection with
any board action, and shall not be required to own qualifying shares.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FOURTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There shall be an annual meeting of the shareholders to elect
directors and transact whatever other business may be brought before the meeting. It shall be held at the main office or any other convenient
place the board of directors may designate, on the day of each year specified therefor in the bylaws, or, if that day falls on a legal
holiday in the state in which the association is located, on the next following banking day. If no election is held on the day fixed,
or in the event of a legal holiday on the following banking day, an election may be held on any subsequent day within 60 days of the day
fixed, to be designated by the board of directors, or, if the directors fail to fix the day, by shareholders representing two-thirds of
the shares issued and outstanding. In all cases at least 10 days advance notice of the time, place and purpose of a shareholders&rsquo;
meeting shall be given to the shareholders by first class mail, unless the OCC determines that an emergency circumstance exists. The sole
shareholder of the bank is permitted to waive notice of the shareholders&rsquo; meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In all elections of directors, the number of votes
each common shareholder may cast will be determined by multiplying the number of shares such shareholder owns by the number of directors
to be elected. Those votes may be cumulated and cast for a single candidate or may be distributed among two or more candidates in the
manner selected by the shareholder. If, after the first ballot, subsequent ballots are necessary to elect directors, a shareholder may
not vote shares that he or she has already fully cumulated and voted in favor of a successful candidate. On all other questions, each
common shareholder shall be entitled to one vote for each share of stock held by him or her.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Nominations for election to the board of directors
may be made by the board of directors or by any stockholder of any outstanding class of capital stock of the association entitled to vote
for election of directors. Nominations other than those made by or on behalf of the existing management shall be made in writing and be
delivered or mailed to the president of the association not less than 14 days nor more than 50 days prior to any meeting of shareholders
called for the election of directors; provided, however, that if less than 21 days notice of the meeting is given to shareholders, such
nominations shall be mailed or delivered to the president of the association not later than the close of business on the seventh day following
the day on which the notice of meeting was mailed. Such notification shall contain the following information to the extent known to the
notifying shareholder:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">1)</FONT></TD><TD><FONT STYLE="font-size: 11pt">The name and address of each proposed nominee.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">2)</FONT></TD><TD><FONT STYLE="font-size: 11pt">The principal occupation of each proposed nominee.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">3)</FONT></TD><TD><FONT STYLE="font-size: 11pt">The total number of shares of capital stock of the association that will be voted for each proposed
nominee.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">4)</FONT></TD><TD><FONT STYLE="font-size: 11pt">The name and residence address of the notifying shareholder.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">5)</FONT></TD><TD><FONT STYLE="font-size: 11pt">The number of shares of capital stock of the association owned by the notifying shareholder.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">Nominations not made in accordance herewith
may, in his/her discretion, be disregarded by the chairperson of the meeting, and the vote tellers may disregard all votes cast for each
such nominee. No bylaw may unreasonably restrict the nomination of directors by shareholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">A director may resign at any time by delivering
written notice to the board of directors, its chairperson, or to the association, which resignation shall be effective when the notice
is delivered unless the notice specifies a later effective date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">A director may be removed by shareholders
at a meeting called to remove the director, when notice of the meeting stating that the purpose or one of the purposes is to remove the
director is provided, if there is a failure to fulfill one of the affirmative requirements for qualification, or for cause; provided,
however, that a director may not be removed if the number of votes sufficient to elect the director under cumulative voting is voted against
the director's removal.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FIFTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorized amount of capital stock of this association shall
be ten thousand shares of common stock of the par value of one hundred dollars ($100) each; but said capital stock may be increased or
decreased from time to time, according to the provisions of the laws of the United States.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No holder of shares of the capital stock of any class
of the association shall have any preemptive or preferential right of subscription to any shares of any class of stock of the association,
whether now or hereafter authorized, or to any obligations convertible into stock of the association, issued, or sold, nor any right of
subscription to any thereof other than such, if any, as the board of directors, in its discretion, may from time to time determine and
at such price as the board of directors may from time to time fix. Preemptive rights also must be approved by a vote of holders of two-thirds
of the bank&rsquo;s outstanding voting shares. Unless otherwise specified in these articles of association or required by law, (1) all
matters requiring shareholder action, including amendments to the articles of association, must be approved by shareholders owning a majority
voting interest in the outstanding voting stock, and (2) each shareholder shall be entitled to one vote per share.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise specified in these articles of association
or required by law, all shares of voting stock shall be voted together as a class, on any matters requiring shareholder approval. If a
proposed amendment would affect two or more classes or series in the same or a substantially similar way, all the classes or series so
affected must vote together as a single voting group on the proposed amendment.</P>

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shares of one class or series may be issued as a dividend
for shares of the same class or series on a pro rata basis and without consideration. Shares of one class or series may be issued as share
dividends for a different class or series of stock if approved by a majority of the votes entitled to be cast by the class or series to
be issued, unless there are no outstanding shares of the class or series to be issued. Unless otherwise provided by the board of directors,
the record date for determining shareholders entitled to a share dividend shall be the date authorized by the board of directors for the
share dividend.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">Unless otherwise provided in the bylaws,
the record date for determining shareholders entitled to notice of and to vote at any meeting is the close of business on the day before
the first notice is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 70 days before
the meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If a shareholder is entitled to fractional shares pursuant
to a stock dividend, consolidation or merger, reverse stock split or otherwise, the association may: (a) issue fractional shares; (b)
in lieu of the issuance of fractional shares, issue script or warrants entitling the holder to receive a full share upon surrendering
enough script or warrants to equal a full share; (c) if there is an established and active market in the association's stock, make reasonable
arrangements to provide the shareholder with an opportunity to realize a fair price through sale of the fraction, or purchase of the additional
fraction required for a full share; (d) remit the cash equivalent of the fraction to the shareholder; or (e) sell full shares representing
all the fractions at public auction or to the highest bidder after having solicited and received sealed bids from at least three licensed
stock brokers; and distribute the proceeds pro rata to shareholders who otherwise would be entitled to the fractional shares. The holder
of a fractional share is entitled to exercise the rights for shareholder, including the right to vote, to receive dividends, and to participate
in the assets of the association upon liquidation, in proportion to the fractional interest. The holder of script or warrants is not entitled
to any of these rights unless the script or warrants explicitly provide for such rights. The script or warrants may be subject to such
additional conditions as: (1) that the script or warrants will become void if not exchanged for full shares before a specified date; and
(2) that the shares for which the script or warrants are exchangeable may be sold at the option of the association and the proceeds paid
to scriptholders.</P>

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 8.25pt 0 0; text-indent: 0.5in">The association, at any time and from time
to time, may authorize and issue debt obligations, whether or not subordinated, without the approval of the shareholders. Obligations
classified as debt, whether or not subordinated, which may be issued by the association without the approval of shareholders, do not carry
voting rights on any issue, including an increase or decrease in the aggregate number of the securities, or the exchange or reclassification
of all or part of securities into securities of another class or series.</P>

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SIXTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors shall appoint one of its members president
of this association, and one of its members chairperson of the board and shall have the power to appoint one or more vice presidents,
a secretary who shall keep minutes of the directors' and shareholders' meetings and be responsible for authenticating the records of the
association, and such other officers and employees as may be required to transact the business of this association.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A duly appointed officer may appoint one or more officers
or assistant officers if authorized by the board of directors in accordance with the bylaws.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The board of directors shall have the power to:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">1)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Define the duties of the officers, employees, and agents of the association.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">2)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Delegate the performance of its duties, but not the responsibility for its duties, to the officers,
employees, and agents of the association.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">3)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Fix the compensation and enter into employment contracts with its officers and employees upon reasonable
terms and conditions consistent with applicable law.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">4)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Dismiss officers and employees.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">5)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Require bonds from officers and employees and to fix the penalty thereof.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">6)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Ratify written policies authorized by the association's management or committees of the board.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">7)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Regulate the manner in which any increase or decrease of the capital of the association shall be made,
provided that nothing herein shall restrict the power of shareholders to increase or decrease the capital of the association in accordance
with law, and nothing shall raise or lower from two-thirds the percentage required for shareholder approval to increase or reduce the
capital.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">8)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Manage and administer the business and affairs of the association.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">9)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Adopt initial bylaws, not inconsistent with law or the articles of association, for managing the business
and regulating the affairs of the association.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">10)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Amend or repeal bylaws, except to the extent that the articles of association reserve this power in
whole or in part to shareholders.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">11)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Make contracts.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">12)</FONT></TD><TD><FONT STYLE="font-size: 11pt">Generally perform all acts that are legal for a board of directors to perform.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SEVENTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors shall have the power to change the location
of the main office to any other place within the limits of Wilmington, Delaware, without the approval of the shareholders, or with a vote
of shareholders owning two-thirds of the stock of such association for a relocation outside such limits and upon receipt of a certificate
of approval from the Comptroller of the Currency, to any other location within or outside the limits of Wilmington Delaware, but not more
than 30 miles beyond such limits. The board of directors shall have the power to establish or change the location of any branch or branches
of the association to any other location permitted under applicable law, without approval of shareholders, subject to approval by the
Comptroller of the Currency.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">EIGHTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The corporate existence of this association shall continue until
termination according to the laws of the United States.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">NINTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors of this association, or any one or more
shareholders owning, in the aggregate, not less than 50 percent of the stock of this association, may call a special meeting of shareholders
at any time. Unless otherwise provided by the bylaws or the laws of the United States, a notice of the time, place, and purpose of every
annual and special meeting of the shareholders shall be given at least 10 days prior to the meeting by first-class mail, unless the OCC
determines that an emergency circumstance exists. If the association is a wholly-owned subsidiary, the sole shareholder may waive notice
of the shareholders&rsquo; meeting. Unless otherwise provided by the bylaws or these articles, any action requiring approval of shareholders
must be effected at a duly called annual or special meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">TENTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Article Tenth, the term &ldquo;institution-affiliated
party&rdquo; shall mean any institution-affiliated party of the association as such term is defined in 12 U.S.C. 1813(u).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any institution-affiliated party (or his or her heirs,
executors or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection
with any threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative
or investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct
of the affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C.
1818(b) with respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant
to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators)
for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in
connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors
or administrators) only if such action or proceeding (or part thereof) was authorized by the board of directors.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Expenses incurred by an institution-affiliated party
(or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be paid
by the association in advance of the final disposition of such action or proceeding upon (a) a determination by the board of directors
acting by a quorum consisting of directors who are not parties to such action or proceeding that the institution-affiliated party (or
his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits, (b) a determination that the indemnified
individual (or his or her heirs, executors or administrators) will have the financial capacity to reimburse the bank in the event he or
she does not prevail, (c) a determination that the payment of expenses and fees by the association will not adversely affect the safety
and soundness of the association, and (d) receipt of an undertaking by or on behalf of such institution-affiliated party (or by his or
her heirs, executors or administrators) to repay such advancement in the event of a final order or settlement pursuant to which such person:
(i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct of the affairs of the
association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C. 1818(b) with respect
to the association. In all other instances, expenses incurred by an institution-affiliated party (or by his or her heirs, executors or
administrators) in connection with any action or proceeding as to which indemnification may be given under these articles of association
may be paid by the association in advance of the final disposition of such action or proceeding upon (a) receipt of an undertaking by
or on behalf of such institution-affiliated party (or by or on behalf of his or her heirs, executors or administrators) to repay such
advancement in the event that such institution-affiliated party (or his or her heirs, executors or administrators) is ultimately found
not to be entitled to indemnification as authorized by these articles of association and (b) approval by the board of directors acting
by a quorum consisting of directors who are not parties to such action or proceeding or, if such a quorum is not obtainable, then approval
by stockholders. To the extent permitted by law, the board of directors or, if applicable, the stockholders, shall not be required to
find that the institution-affiliated party has met the applicable standard of conduct provided by law for indemnification in connection
with such action or proceeding.</P>

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that a majority of the members of the
board of directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining
members of the board may authorize independent legal counsel to review the indemnification request and provide the remaining members of
the board with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Article Tenth
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the board of directors
may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that all of the members of the board of
directors are named as respondents in an administrative proceeding or civil action and request indemnification, the board shall authorize
independent legal counsel to review the indemnification request and provide the board with a written opinion of counsel as to whether
the conditions delineated in the first four paragraphs of this Article Tenth have been met. If legal counsel opines that said conditions
have been met, the board of directors may rely on such opinion in authorizing the requested indemnification.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To the extent permitted under applicable law, the rights
of indemnification and to the advancement of expenses provided in these articles of association (a) shall be available with respect to
events occurring prior to the adoption of these articles of association, (b) shall continue to exist after any restrictive amendment of
these articles of association with respect to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable
law in effect at the time of the occurrence of the event or events giving rise to the action or proceeding, or on the basis of applicable
law in effect at the time such rights are claimed, and (d) are in the nature of contract rights which may be enforced in any court of
competent jurisdiction as if the association and the institution-affiliated party (or his or her heirs, executors or administrators) for
whom such rights are sought were parties to a separate written agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The rights of indemnification and to the advancement
of expenses provided in these articles of association shall not, to the extent permitted under applicable law, be deemed exclusive of
any other rights to which any such institution affiliated party (or his or her heirs, executors or administrators) may now or hereafter
be otherwise entitled whether contained in these articles of association, the bylaws, a resolution of stockholders, a resolution of the
board of directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these articles
of association shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party
(or of his or her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor,
against the association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 0; text-indent: 0.5in">If this Article Tenth or any part hereof
shall be held unenforceable in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary
to make it enforceable, and the remainder of this Article Tenth shall remain fully enforceable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The association may, upon affirmative vote of a majority
of its board of directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification
is allowed in these articles of association; provided, however, that no such insurance shall include coverage to pay or reimburse any
institution-affiliated party for the cost of any judgment or civil money penalty assessed against such person in an administrative proceeding
or civil action commenced by any federal banking agency. Such insurance may, but need not, be for the benefit of all institution-affiliated
parties.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ELEVENTH.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These articles of association may be amended at any regular
or special meeting of the shareholders by the affirmative vote of the holders of a majority of the stock of this association, unless the
vote of the holders of a greater amount of stock is required by law, and in that case by the vote of the holders of such greater amount.
The association's board of directors may propose one or more amendments to the articles of association for submission to the shareholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 4</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#9;<B>BY-LAWS OF WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.4pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDED AND RESTATED BYLAWS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Effective as of March 7, 2024)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">AMENDED AND RESTATED
BYLAWS <FONT STYLE="letter-spacing: -0.3pt">OF</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">WILMINGTON TRUST, NATIONAL
<FONT STYLE="letter-spacing: -0.1pt">ASSOCIATION</FONT></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.5pt">I</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Meetings of <FONT STYLE="letter-spacing: -0.1pt">Shareholders</FONT></U></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Annual Meeting</B>. The annual meeting of
shareholders shall be held on such date and at such time as may be designated by the chair of the Board of Directors, the chief executive
officer, the president, the chief operating officer, the secretary, or the Board of Directors for the purpose of the election of directors
and for the transaction of such other business as may properly come before the meeting, except such date shall not be a legal holiday
in Delaware. Notice of the meeting shall be mailed by first class mail, postage prepaid, at least 10 days and no more than 60 days prior
to the date thereof, addressed to each shareholder at his or her address appearing on the books of the association. If, for any cause,
an election of directors is not made on that date, an election may be held on any subsequent day within 60 days of the date fixed, to
be designated by the Board of Directors, or, if the directors fail to fix the date, by shareholders representing two-thirds of the shares.
In these circumstances, at least 10 days&rsquo; notice must be given by first class mail to shareholders.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Special Meetings</B>. The chair of the Board of
Directors, the president, the chief executive officer, the secretary, or the Board of Directors may call a special meeting of the shareholders.
A special meeting shall be called to act on any matter that may properly be considered at a meeting of shareholders upon the written request
of shareholders entitled to cast not less than a majority of all the votes entitled to be cast on such matter at the meeting. Every such
special meeting, unless otherwise provided by law, shall be called by mailing, postage prepaid, not less than 10 days nor more than 60
days prior to the date fixed for the meeting, to each shareholder at the address appearing on the books of the association a notice stating
the purpose of the meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">The Board of Directors may fix a record date for determining shareholders
entitled to notice and to vote at any meeting, in reasonable proximity to the date of giving notice to the shareholders of such meeting.
The record date for determining shareholders entitled to demand a special meeting is the date the first shareholder signs a demand for
the meeting describing the purpose or purposes for which it is to be held.</P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.25pt 0 0"><B>Section 3. Adjournment</B>. If an annual or special shareholders'
meeting is adjourned to a different date, time, or place, notice need not be given of the new date, time or place, if the new date, time
or place is announced at the meeting before adjournment, unless any additional items of business are to be considered, or the association
becomes aware of an intervening event materially affecting any matter to be voted on more than 10 days prior to the date to which the
meeting is adjourned. If a new record date for the adjourned meeting is fixed, however, notice of the adjourned meeting must be given
to persons who are shareholders as of the new record date. If, however, the meeting to elect the directors is adjourned before the election
takes place, at least ten days&rsquo; notice of the new election must be given to the shareholders by first-class mail.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.25pt 0 0"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.25pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 7.95pt 0 0"><B>Section 4. Nominations of Directors</B>. Nominations
for election to the Board of Directors may be made by the Board of Directors or by any shareholder of any outstanding class of capital
stock of the association entitled to vote for the election of directors. Nominations, other than those made by or on behalf of the existing
management of the association, shall be made in writing and shall be delivered or mailed to the president of the association, not less
than 14 days nor more than 50 days prior to any meeting of shareholders called for the election of directors; <I>provided, however, </I>that
if less than 21 days' notice of the meeting is given to shareholders, such nomination shall be mailed or delivered to the president of
the association not later than the close of business on the seventh day following the day on which the notice of meeting was mailed. Such
notification shall contain the following information to the extent known to the notifying shareholder:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(1)</FONT></TD><TD>The name and address of each proposed <FONT STYLE="letter-spacing: -0.1pt">nominee;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(2)</FONT></TD><TD>The principal occupation of each proposed <FONT STYLE="letter-spacing: -0.1pt">nominee;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="letter-spacing: -0.05pt">(3)</FONT></TD><TD STYLE="padding-right: 5.3pt">The total number of shares of capital stock of the association that will be voted for each proposed nominee;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 35.95pt"><FONT STYLE="letter-spacing: -0.05pt">(4)</FONT></TD><TD>The name and residence of the notifying shareholder; <FONT STYLE="letter-spacing: -0.25pt">and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="letter-spacing: -0.05pt">(5)</FONT></TD><TD STYLE="padding-right: 18.55pt">The number of shares of capital stock of the association owned by the notifying <FONT STYLE="letter-spacing: -0.1pt">shareholder</FONT></TD></TR></TABLE>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">Nominations not made in accordance herewith may, in his/her
discretion, be disregarded by the chair of the meeting, and upon his/her instructions, all votes cast for each such nominee may be disregarded.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.05pt 0 0"><B>Section 5. Proxies</B>. Shareholders may vote at any meeting
of the shareholders by proxies duly authorized in writing, but no officer or employee of this association shall act as proxy. A director
or an attorney of the association may act as proxy for shareholders voting if they are not also employed as an officer of the association.
Proxies shall be valid only for one meeting, to be specified therein, and any adjournments of such meeting. Proxies shall be dated and
filed with the records of the meeting. Proxies with facsimile signatures may be used and unexecuted proxies may be counted upon receipt
of a written confirmation from the shareholder. Proxies meeting the above requirements submitted at any time during a meeting shall be
<FONT STYLE="letter-spacing: -0.1pt">accepted.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.4pt 0 0"><B>Section 6. Quorum</B>. A majority of the outstanding capital
stock, represented in person or by proxy, shall constitute a quorum at any meeting of shareholders, unless otherwise provided by law,
but less than a quorum may adjourn any meeting, from time to time, and the meeting may be held, as adjourned, without further notice.
A majority of the votes cast shall decide every question or matter submitted to the shareholders at any meeting, unless otherwise provided
by law or by the articles of association. If a meeting for the election of directors is not held on the fixed date, at least 10 days&rsquo;
notice must be given by first-class mail to the shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.4pt 0 0"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.4pt 0 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">II</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><U>Directors</U></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Section 1. Board of Directors</B>. The Board of Directors shall
have the power to manage and administer the business and affairs of the association. Except as expressly limited by law, all corporate
powers of the association shall be vested in and may be exercised by the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5.25pt 0 0"><B>Section 2. Number</B>. The Board of Directors shall consist
of not less than five nor more than twenty-five members, unless the OCC has exempted the association from the 25-member limit. The exact
number within such minimum and maximum limits is to be fixed and determined from time to time by resolution of a majority of the full
Board of Directors or by resolution of a majority of the shareholders at any meeting thereof. The Board of Directors may not increase
the number of directors between meetings of shareholders to a number which: (a) exceeds by more than 2 the number of directors last elected
by shareholders where the number was 15 or less; or (b) exceeds by more than 4 the number of directors last elected by shareholders where
the number was 16 or more, but in no event shall the number of directors exceed 25, unless the OCC has exempted the association from the
25-member limit.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Section 3. Qualifications.</B> Each director must be a citizen of the
United States and must own in his or her own right either shares of the capital stock of the association or a company that controls the
association that has not less than an aggregate par value of $1,000, an aggregate shareholders&rsquo; equity of $1,000, or an aggregate
fair market value of $1,000. The value of the common or preferred stock held by a director is valued as of the date purchased or the date
on which the individual became a director, whichever is greater.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 4. Organization Meeting</B>.&#9;After each annual
meeting of shareholders at which directors shall have been elected, the Board of Directors shall meet as soon as practicable for the purpose
of organization and the transaction of other business. Such first regular meeting shall be held at any place as may be designated by the
chair, the president or the Board of Directors for such first regular meeting or, in default of such designation, where the immediately
preceding meeting of shareholders was held.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 7.05pt 0 0; text-align: justify"><B>Section 5. Regular Meetings</B>.
Regular meetings of the Board of Directors shall be held on such dates and at such places as may be designated from time to time by the
chair. No notice of regular meetings shall be necessary.</P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 0"><B>Section 6. Special Meetings</B>. Special meetings of
the Board of Directors may be called at any time by the chair, the chief executive officer, the president or by a majority of the
then- acting directors by vote at a meeting or in writing, or by a majority of the members of the executive committee, if one is
constituted, by vote at a meeting or in writing. A special meeting of the Board of Directors shall be held on such date and at any
place as may be designated from time to time by the Board of Directors. In the absence of such designation, such meeting shall be
held at such place as may be designated in the call. Each member of the Board of Directors shall be given notice stating the date,
time and place, by letter, electronic delivery or in person, of <FONT STYLE="letter-spacing: -0.2pt">each </FONT>special meeting not
less than one day before the meeting. Such notice need not specify the purpose for which the meeting is called, unless required by
the Articles of Association or the <FONT STYLE="letter-spacing: -0.1pt">bylaws.</FONT></P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.8pt 0 0"><B>Section 7. Quorum</B>. A majority of the entire Board then
in office shall constitute a quorum at any meeting, except when otherwise provided by law or these Bylaws, but a lesser number may adjourn
any meeting, from time to time, and the meeting may be held, as adjourned, without further notice. If the number of directors present
at the meeting is reduced below the number that would constitute a quorum, no business may be transacted, except selecting directors to
fill vacancies in conformance with Article II, Section 11. If a quorum is present, the board of directors may take action through the
vote of a majority of the directors who are in attendance. No director may vote by proxy.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 3.45pt 0 0"><B>Section 8. Attendance by Electronic, Telephonic or Similar
Means.</B> Any one or more members of the Board of Directors or any committee thereof may participate in a regular or special meeting
of such board or committee by, or conduct the meeting through the use of, <FONT STYLE="color: #333333">conference telephone or other communications
equipment </FONT>by which all directors or committee members participating may simultaneously hear each other during the meeting. Participation
in a meeting by these means constitutes presence in person at a meeting.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 21.95pt 0 0"><B>Section 9. Procedures</B>. The order of business and all
other matters of procedure at every meeting of the Board of Directors may be determined by the person presiding at the <FONT STYLE="letter-spacing: -0.1pt">meeting.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 10. Removal of Directors</B>. Any director may be
removed for cause at any meeting of shareholders, notice of which shall have referred to the proposed action, by vote of the shareholders.
Any director may be removed without cause at any meeting of shareholders, notice of which shall have referred to the proposed action,
by the vote of the holders of a majority of the shares of the association entitled to vote. Any director may be removed for cause at any
meeting of the directors, notice of which shall have referred to the proposed action, by vote of a majority of the entire Board of Directors.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 6.25pt 0 0"><B>Section 11. Vacancies</B>. When any vacancy occurs among
the directors, a majority of the remaining members of the Board of Directors may appoint a director to fill such vacancy until the next
election at any regular meeting of the Board of Directors, or at a special meeting called for that purpose at which a quorum is present,
or if the directors remaining in office constitute fewer than a quorum of the Board of Directors, by the affirmative vote of a majority
of all the directors remaining in office, or by shareholders at a special meeting called for that purpose in conformance with Section
2 of Article I. A vacancy that will occur at a specific later date (by reason of a resignation effective at a later date) may be filled
before the vacancy occurs but the new director may not take office until the vacancy occurs.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 12. Consent of Directors without a Meeting</B>.
Any action required or permitted to be taken at any meeting of the Board of Directors may be taken without a meeting if the action
is taken by all members of the Board. The action may be evidenced by one or more written consents signed by each director before or
after such action, describing the action taken, and included in the minutes or filed with the corporate records. A director&rsquo;s
consent to action taken without a meeting may be in electronic form and delivered by electronic means.</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5.45pt 0 0"><B>Section 13. Ratification</B>. The board of directors may
ratify and make binding on the association any action or inaction by the association or its officers to the extent that the Board of Directors
or the shareholders could have originally authorized the matter and as permitted by law. Moreover, any action or inaction questioned in
any shareholders&rsquo; derivative proceeding or any other proceeding on the ground of lack of authority, defective or irregular execution,
adverse interest of a director, officer or shareholder, non-disclosure, miscomputation, the application of improper principles or practices
of accounting or otherwise, may be ratified, before or after judgment, by the Board of Directors or by the shareholders, and if so ratified,
shall have the same force and effect as if the questioned action or inaction had been originally duly authorized, and such ratification
shall be binding upon the shareholders and shall constitute a bar to any claim or execution of any judgment in respect of such questioned
action or inaction.</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">III</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><U>Committees</U></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Executive Committee</B>. The Board of Directors
may appoint an Executive Committee, which shall have and may exercise, during the intervals between meetings of the Board of Directors,
all the powers of the Board of Directors in the management of the business, properties and affairs of the association except as prohibited
by law, the Articles of Association or these Bylaws. All acts done and powers conferred by the Executive Committee shall be deemed to
be and may be certified as being, done or conferred under authority of the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Trust Audit Committee.</B> Unless delegated pursuant
to Section 5 of this Article III, there shall be a Trust Audit Committee composed of not less than 2 directors, appointed by the Board
of Directors, which shall, at least once during each calendar year make suitable audits of the association&rsquo;s fiduciary activities
or cause suitable audits to be made by auditors responsible only to the Board, and at such time shall ascertain whether fiduciary powers
have been administered according to law, Part 9 of the Regulations of the Comptroller of the Currency, and sound fiduciary principles.
Such committee: (1) must not include any officers of the association or an affiliate who participate significantly in the administration
of the association&rsquo;s fiduciary activities; and (2) must consist of a majority of members who are not also members of any committee
to which the Board of Directors has delegated power to manage and control the fiduciary activities of the bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 3. Examining Committee</B>. Unless delegated
pursuant to Section 5 of this Article III, there shall be an examining committee composed of not less than 2 directors, exclusive of
any active officers, appointed by the board of directors annually or more often. The duty of that committee shall be to examine at
least once during each calendar year and within 15 months of the last examination the affairs of the association or cause suitable
examinations to be made by auditors responsible only to the board of directors and to report the result of such examination in
writing to the board of directors at the next regular meeting thereafter. Such report shall state whether the association is in a
sound condition, and whether adequate internal controls and procedures are being maintained and shall recommend to the board of
directors such changes in the manner of conducting the affairs of the association as shall be deemed advisable.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.05pt 0 0"><B>Section 4. Other Committees</B>. The Board of Directors may
from time to time by resolution adopted by affirmative vote of a majority of the Board of Directors, appoint other committees of the Board
of Directors which shall have such powers and duties as the Board of Directors may properly determine. No such other committee of the
Board of Directors shall be composed of fewer than three (3) directors. The Board of Directors may also appoint one or more directors
as alternative members of a committee. All acts done and powers conferred by the Board of Directors on committees of the Board of Directors
shall be deemed to be and may be certified as being, done or conferred under that authority of the Board of Directors.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 5. Delegation of Responsibility and Authority</B>.
The responsibility, authority and constitution of any committee under this Article III may, if authorized by law, be given over to a duly
constituted committee of the association&rsquo;s parent corporation by resolution adopted by the Board of Directors.</P>

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">IV</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Officers and <FONT STYLE="letter-spacing: -0.1pt">Employees</FONT></U></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 6.25pt 0 0"><B>Section 1 Officers.</B> The Board of Directors shall
annually, at the Annual Reorganization Meeting of the Board of Directors following the annual meeting of shareholders, appoint or elect
a chair of the Board, a chief executive officer, a president, one (1) or more senior executive vice presidents, a corporate secretary,
a treasurer, a chief auditor, and such other officers as it may determine, each to hold office until the next Annual Reorganization meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">The officers below the level of senior executive vice
president may be elected as follows: the head of the Human Resources Department of M&amp;T Bank, or his or her designee, may appoint
officers up to and including (without limitation as to title or number) one (1) or more executive vice presidents, senior vice
presidents, vice presidents, assistant vice presidents, assistant secretaries, assistant treasurers, and assistant auditors, and any
other officer positions as they deem necessary and appropriate, except the chair of the board, chief executive officer, president,
any &ldquo;Executive Officer&rdquo; of the association for the purposes of Regulation O (codified at 12 C.F.R. &sect;215.2(e)(1)),
and any &ldquo;Senior Executive Officer&rdquo; within the meaning of 12 <FONT STYLE="letter-spacing: -0.1pt">C.F.R.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&sect;5.51(c)(4) may only be appointed by the Board of <FONT STYLE="letter-spacing: -0.1pt">Directors.</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 2. Chair of the Board</B>. The Board of Directors
shall appoint one of its members to be the chair of the Board to serve at its pleasure. Such person shall preside at all meetings of the
Board of Directors. The chair of the Board shall supervise the carrying out of the policies adopted or approved by the Board of Directors;
shall have general executive powers, as well as the specific powers conferred by these Bylaws; and shall also have and may exercise such
further powers and duties as from time to time may be conferred upon or assigned by the Board of Directors.</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Section 3. President</B>. The Board of Directors shall appoint one
of its members to be the president of the association. The president shall be a member of the Board of Directors. In the absence of
the chair, the president shall preside at any meeting of the Board of Directors. The president shall have general executive powers
and shall have and may exercise any and all other powers and duties pertaining by law, regulation, or practice to the office of
president, or imposed by these Bylaws. The president shall also have and may exercise such further powers and duties as from time to
time may be conferred or assigned by the Board of Directors.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 21.95pt 0 0"><B>Section 4. Vice President</B>. The Board of Directors may
appoint one or more vice presidents. Each vice president shall have such powers and duties as may be assigned by the Board of Directors.
One vice president shall be designated by the Board of Directors, in the absence of the president, to perform all the duties of the president.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 5. Secretary</B>. The Board of Directors shall appoint
a secretary or other designated officer who shall be secretary of the Board of Directors and of the association and who shall keep accurate
minutes of all meetings. The secretary shall attend to the giving of all notices required by these Bylaws; shall be custodian of the corporate
seal, records, documents and papers of the association; shall provide for the keeping of proper records of all transactions of the association;
shall have and may exercise any and all other powers and duties pertaining by law, regulation or practice, or imposed by these bylaws;
and shall also perform such other duties as may be assigned from time to time, by the Board of Directors.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5.55pt 0 0"><B>Section 6. Other Officers</B>. The Board of Directors may
appoint one or more assistant vice presidents, one or more trust officers, one or more officers, one or more assistant secretaries, one
or more assistant treasurers, one or more managers and assistant managers of branches and such other officers and attorneys in fact as
from time to time may appear to the Board of Directors to be required or desirable to transact the business of the association. Such officers
shall respectively exercise such powers and perform such duties as pertain to their several offices, or as may be conferred upon or assigned
to them by the Board of Directors, the chair of the Board, or the president. The Board of Directors may authorize an officer to appoint
one or more officers or assistant officers.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>Section 7. Resignation</B>. An officer may resign at any time
by delivering notice to the association. A resignation is effective when the notice is given unless the notice specifies a later effective
date.</P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.5pt">V</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Stock and Stock <FONT STYLE="letter-spacing: -0.1pt">Certificates</FONT></U></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 7.65pt 0 0"><B>Section 1. Transfers</B>. Shares of stock shall be transferable
on the books of the association, and a transfer book shall be kept in which all transfers of stock shall be recorded. Every person becoming
a shareholder by such transfer shall in proportion to such shareholder's shares, succeed to all rights of the prior holder of such shares.
The Board of Directors may impose conditions upon the transfer of the stock reasonably calculated to simplify the work of the association
with respect to stock transfers, voting at shareholder meetings and related matters and to protect it against fraudulent transfers.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 7.65pt 0 0"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 7.65pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3.95pt 7.95pt 0 0"><B>Section 2. Stock Certificates</B>. Certificates of
stock shall bear the signature of the president (which may be engraved, printed or impressed) and shall be signed manually, by
facsimile process, or electronic means by the secretary, assistant secretary, treasurer, assistant treasurer, or any other officer
appointed by the Board of Directors for that purpose, to be known as an authorized officer, and the seal of the association shall be
engraved thereon. Each certificate shall recite on its face that the stock represented thereby is transferable only upon the books
of the association properly endorsed and otherwise comply with the requirements of 12 U.S.C. 52 and 12 C.F.R. <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; letter-spacing: -0.1pt">&sect;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: -0.1pt">7.2016(b).</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 6.25pt 0 0"><B>Section 3. Lost, Stolen or Destroyed Certificates</B>. In
case any certificate representing shares shall be lost, stolen or destroyed, the Board of Directors, in its discretion, or any officer
or officers thereunder duly authorized by the Board of Directors, may authorize the issue of a substitute certificate or substitute shares
in uncertificated form in the place of the certificate so lost, stolen or destroyed.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0"><B>Section 4. Fixing of Record Date</B>. The Board of Directors
may set, in advance, a record date for the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders
or determining shareholders entitled to receive payment of any dividend or the allotment of any other rights, in order to make a determination
of shareholders for any other proper purpose. Such date, in any case, shall be the close of business on the day before the first notice
is mailed or otherwise sent to the shareholders, provided that in no event may a record date be more than 10 days before the meeting.</P>

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">VII</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Corporate <FONT STYLE="letter-spacing: -0.2pt">Seal</FONT></U></P>

<P STYLE="font: bold 8pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 7.95pt 0 0"><B>Section 1. Seal</B>. The seal of the association shall
be in such form as may be determined from time to time by the Board of Directors. The president, the treasurer, the secretary or any assistant
treasurer or assistant secretary, or other officer thereunto designated by the Board of Directors shall have authority to affix the corporate
seal to any document requiring such seal and to attest the same. The seal on any corporate obligation for the payment of money may be
<FONT STYLE="letter-spacing: -0.1pt">facsimile.</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.2pt">VIII</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Miscellaneous <FONT STYLE="letter-spacing: -0.1pt">Provisions</FONT></U></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 0 0"><B>Section 1. Fiscal Year</B>. The fiscal year of the association
shall be the calendar <FONT STYLE="letter-spacing: -0.1pt">year.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 7.95pt 0 0"><B>Section 2. Execution of Instruments</B>. All
agreements, indentures, mortgages, deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases,
satisfactions, settlements, petitions, schedules, accounts, affidavits, bonds, undertakings, proxies and other instruments or
documents may be signed, executed, acknowledged, verified, delivered or accepted on behalf of the association by any officer elected
or appointed pursuant to Article IV of these Bylaws. Any such instruments may also be executed, acknowledged, verified, delivered or
accepted on behalf of the association in such other manner and by such other officers as the Board of Directors may from time to
time direct. The provisions of this Section 2 are supplementary to any other provision of these Bylaws.</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0"><B>Section 3. Records</B>. The Articles of Association, the
Bylaws and the proceedings of all meetings of the shareholders, the Board of Directors, and standing committees of the Board of Directors
shall be recorded in appropriate minute books provided for that purpose. The minutes of each meeting shall be signed by the secretary,
treasurer or other officer appointed to act as secretary of the meeting.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 23.25pt 0 0; text-align: justify"><B>Section 4. Corporate Governance Procedures.</B>
To the extent not inconsistent with federal banking statutes and regulations, or safe and sound banking practices, the association may
follow the Delaware General Corporation Law, Del. Code Ann. tit. 8 (1991, as amended 1994, and as amended thereafter) with respect to
matters of corporate governance <FONT STYLE="letter-spacing: -0.1pt">procedures.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 12.25pt 0 0"><B>Section 5. Indemnification.</B> For purposes of this Section
5 of Article VIII, the term &ldquo;institution-affiliated party&rdquo; shall mean any institution-affiliated party of the association
as such term is defined in 12 U.S.C. 1813(u).</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5pt 0 0">Any institution-affiliated party (or his or her heirs, executors
or administrators) may be indemnified or reimbursed by the association for reasonable expenses actually incurred in connection with any
threatened, pending or completed actions or proceedings and appeals therein, whether civil, criminal, governmental, administrative or
investigative, in accordance with and to the fullest extent permitted by law, as such law now or hereafter exists; provided, however,
that when an administrative proceeding or action instituted by a federal banking agency results in a final order or settlement pursuant
to which such person: (i) is assessed a civil money penalty, (ii) is removed from office or prohibited from participating in the conduct
of the affairs of the association, or (iii) is required to cease and desist from or to take any affirmative action described in 12 U.S.C.
1818(b) with respect to the association, then the association shall require the repayment of all legal fees and expenses advanced pursuant
to the next succeeding paragraph and may not indemnify such institution-affiliated parties (or their heirs, executors or administrators)
for expenses, including expenses for legal fees, penalties or other payments incurred. The association shall provide indemnification in
connection with an action or proceeding (or part thereof) initiated by an institution-affiliated party (or by his or her heirs, executors
or administrators) only if such action or proceeding (or part thereof) was authorized by the Board of Directors.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 5.55pt 0 0">Expenses incurred by an institution-affiliated party
(or by his or her heirs, executors or administrators) in connection with any action or proceeding under 12 U.S.C. 164 or 1818 may be
paid by the association in advance of the final disposition of such action or proceeding upon (a) a determination by the Board of
Directors acting by a quorum consisting of directors who are not parties to such action or proceeding that the
institution-affiliated party (or his or her heirs, executors or administrators) has a reasonable basis for prevailing on the merits,
(b) a determination that the indemnified individual (or his or her heirs, executors or administrators) will have the financial
capacity to reimburse the association in the event he or she does not prevail, (c) a determination that the payment of expenses and
fees by the association will not adversely affect the safety and soundness of the association, and (d) receipt of an undertaking by
or on behalf of such institution-affiliated party (or by his or her heirs, executors or administrators) to repay such advancement in
the event of a final order or settlement pursuant to which such person: (i) is assessed a civil money penalty, (ii) is removed from
office or prohibited from participating in the conduct of the affairs of the association, or (iii) is required to cease and desist
from or to take any affirmative action described in 12 U.S.C. 1818(b) with respect to the association. In all other instances,
expenses incurred by an institution-affiliated party (or by his or her heirs, executors or administrators) in connection with any
action or proceeding as to which indemnification may be given under the Articles of Association may be paid by the association in
advance of the final disposition of such action or proceeding upon (a) receipt of an undertaking by or on behalf of such
institution-affiliated party (or by or on behalf of his or her heirs, executors or administrators) to repay such advancement in the
event that such institution- affiliated party (or his or her heirs, executors or administrators) is ultimately found not to be
entitled to indemnification as authorized by these Bylaws and (b) approval by the Board of Directors acting by a quorum consisting
of directors who are not parties to such action or proceeding or, if such a quorum is not obtainable, then approval by shareholders.
To the extent permitted by law, the Board of Directors or, if applicable, the shareholders, shall not be required to find that the
institution-affiliated party has met the applicable standard of conduct provided by law for indemnification in connection with such
action or proceeding.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 3.45pt 0 0">In the event that a majority of the members of the Board of
Directors are named as respondents in an administrative proceeding or civil action and request indemnification, the remaining members
of the Board may authorize independent legal counsel to review the indemnification request and provide the remaining members of the Board
with a written opinion of counsel as to whether the conditions delineated in the first four paragraphs of this Section 5 of Article VIII
have been met. If independent legal counsel opines that said conditions have been met, the remaining members of the Board of Directors
may rely on such opinion in authorizing the requested indemnification.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 8.45pt 0 0">In the event that all of the members of the Board of Directors
are named as respondents in an administrative proceeding or civil action and request indemnification, the Board shall authorize independent
legal counsel to review the indemnification request and provide the Board with a written opinion of counsel as to whether the conditions
delineated in the first four paragraphs of this Section 5 of Article VIII have been met. If legal counsel opines that said conditions
have been met, the Board of Directors may rely on such opinion in authorizing the requested indemnification.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 10.1pt 0 0">To the extent permitted under applicable law, the rights
of indemnification and to the advancement of expenses provided in the Articles of Association (a) shall be available with respect to events
occurring prior to the adoption of these Bylaws, (b) shall continue to exist after any restrictive amendment of these Bylaws with respect
to events occurring prior to such amendment, (c) may be interpreted on the basis of applicable law in effect at the time of the occurrence
of the event or events giving rise to the action or proceeding, or on the basis of applicable law in effect at the time such rights are
claimed, and (d) are in the nature of contract rights which may be enforced in any court of competent jurisdiction as if the association
and the institution-affiliated party (or his or her heirs, executors or administrators) for whom such rights are sought were parties to
a separate written agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 10.1pt 0 0"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 10.1pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3.75pt 5.45pt 0 0">The rights of indemnification and to the advancement of
expenses provided in these Bylaws shall not, to the extent permitted under applicable law, be deemed exclusive of any other rights to
which any such institution-affiliated party (or his or her heirs, executors or administrators) may now or hereafter be otherwise entitled
whether contained in the association&rsquo;s Articles of Association, these Bylaws, a resolution of shareholders, a resolution of the
Board of Directors, or an agreement providing such indemnification, the creation of such other rights being hereby expressly authorized.
Without limiting the generality of the foregoing, the rights of indemnification and to the advancement of expenses provided in these Bylaws
shall not be deemed exclusive of any rights, pursuant to statute or otherwise, of any such institution-affiliated party (or of his or
her heirs, executors or administrators) in any such action or proceeding to have assessed or allowed in his or her favor, against the
association or otherwise, his or her costs and expenses incurred therein or in connection therewith or any part thereof.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">If this Section 5 of Article VIII or any part hereof shall be held unenforceable
in any respect by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary to make it enforceable,
and the remainder of this Section 5 of Article VIII shall remain fully enforceable.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.95pt 0 0">The association may, upon affirmative vote of a majority of
its Board of Directors, purchase insurance to indemnify its institution-affiliated parties to the extent that such indemnification is
allowed in these Bylaws; provided, however, that no such insurance shall include coverage for a final order assessing civil money penalties
against such persons by a bank regulatory agency. Such insurance may, but need not, be for the benefit of all institution-affiliated
parties.</P>

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center">ARTICLE <FONT STYLE="letter-spacing: -0.25pt">IX</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.15pt; text-align: center"><U>Inspection and <FONT STYLE="letter-spacing: -0.1pt">Amendments</FONT></U></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 3.45pt 0 0"><B>Section 1. Inspection</B>. A copy of the bylaws of the
association, with all amendments, shall at all times be kept in a convenient place at the main office of the association, and shall be
open for inspection to all shareholders during banking hours.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>Section 2. Amendments</B>. The Board of Directors shall have
the power, at any regular or special meeting thereof, to amend, alter or repeal the bylaws of the association, or to make and adopt new
bylaws. These Bylaws may be amended, altered or repealed and new bylaws may be adopted by the shareholders of the association to the extent
and as permitted in the Articles of Association or applicable law.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT 6</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#9;<B>Section 321(b) Consent</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Pursuant to Section 321(b) of the Trust Indenture Act of 1939, as amended,
Wilmington Trust, National Association hereby consents that reports of examinations by Federal, State, Territorial or District authorities
may be furnished by such authorities to the Securities and Exchange Commission upon requests therefor.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -3.5in"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt"><B>WILMINGTON
    TRUST, NATIONAL ASSOCIATION</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">Dated: March 19, 2026</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 12pt; text-indent: -12pt; width: 10%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 11pt Times New Roman, Times, Serif; vertical-align: top; width: 39%">/s/ Arlene Thelwell</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Arlene Thelwell</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Vice President</TD></TR>
</TABLE>

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



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>EXHIBIT 7</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>R E P O R T &nbsp;&nbsp;&nbsp;O F&nbsp;&nbsp; C O N D I T I O N</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">As of the close of business on December 31, 2025</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></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><B>ASSETS</B></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; font-weight: bold">Thousands of Dollars</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Cash and balances due from depository institutions:</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">649,326</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Securities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,109</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Federal funds sold and securities purchased under agreement to resell:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loans and leases held for sale:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Loans and leases net of unearned income, allowance:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,573</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Premises and fixed asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,283</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Other real estate owned:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">Investments in unconsolidated subsidiaries and associated companies:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Direct and indirect investments in real estate ventures:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Intangible assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Other assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70,506</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total Assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">772,799</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

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    <TD STYLE="font-weight: bold">LIABILITIES</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; font-weight: bold">Thousands of Dollars</TD></TR>
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    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">5,130</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">Federal funds purchased and securities sold under agreements to repurchase</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">Other borrowed money:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">Other Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,259</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Total Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">103,389</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-weight: bold">EQUITY CAPITAL</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; font-weight: bold">Thousands of Dollars</TD></TR>
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    <TD STYLE="width: 70%; text-align: left">Common Stock</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">1,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
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    <TD>Surplus</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">359,386</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">Retained Earnings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">309,018</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">Accumulated other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-weight: bold; text-align: left">Total Equity Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">669,410</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-weight: bold; text-align: left">Total Liabilities and Equity Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">772,799</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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  <td style="width: 1%">&#160;</td>
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<p style="font: bold 8pt Arial, Helvetica, Sans-Serif; color: rgb(50,101,255); margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: bold 8pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt">__________________________________________<br/>
Offering Note(s)</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Sep. 10, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0000806968<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">WPP plc<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">F-3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">F-3ASR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTableNa', window );">Offering Table N/A</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OffsetTableNa', window );">Offset Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_CombinedProspectusTableNa', window );">Combined Prospectus Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
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<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_CombinedProspectusTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_CombinedProspectusTableNa</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeExhibitTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeExhibitTp</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td><strong> Data Type:</strong></td>
<td>ffd:feeExhibitTypeItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FormTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FormTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTableNa</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OffsetTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OffsetTableNa</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissionLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissnTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissnTp</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div>
</body>
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</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings<br></strong></div></th>
<th class="th">
<div>Sep. 10, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=1', window );">Offering: 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesOthrRuleFlg', window );">Other Rule</a></td>
<td class="text">true<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Debt<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Debt Securities<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01381%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">WPP plc. is registering an indeterminate number of debt securities for offer and sale from time to time at indeterminate offering prices. In reliance on Rule 456(b) and Rule 457(r) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), the WPP plc hereby defers payment of the registration fee required in connection with this Registration Statement. Accordingly, no filing fee is paid herewith.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=2', window );">Offering: 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesOthrRuleFlg', window );">Other Rule</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Other<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Guarantees of Debt Securities<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01381%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">No separate consideration will be received for the guarantees. Pursuant to Rule 457(n) under the Securities Act, no separate registration fee is required with respect to the guarantees.<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount of registration fee (amount due after offsets).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeesOthrRuleFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Checkbox indicating whether filer is using a rule other than 457(a), 457(o), or 457(f) to calculate the registration fee due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesOthrRuleFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_PrevslyPdFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<title></title>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th">
<div>Sep. 10, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesSummaryLineItems', window );"><strong>Fees Summary [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOfferingAmt', window );">Total Offering</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlFeeAmt', window );">Total Fee Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOffsetAmt', window );">Total Offset Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_NetFeeAmt', window );">Net Fee</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeesSummaryLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesSummaryLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_NetFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_NetFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlOfferingAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOfferingAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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            <startDate>2025-09-10</startDate>
            <endDate>2025-09-10</endDate>
        </period>
    </context>
    <context id="c_report">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000806968</identifier>
        </entity>
        <period>
            <startDate>2025-09-10</startDate>
            <endDate>2025-09-10</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="pure">
        <measure>pure</measure>
    </unit>
    <ffd:SubmissnTp contextRef="c_report" id="fee_001">F-3ASR</ffd:SubmissnTp>
    <ffd:FeeExhibitTp contextRef="c_report" id="fee_002">EX-FILING FEES</ffd:FeeExhibitTp>
    <dei:EntityCentralIndexKey contextRef="c_report" id="fee_003">0000806968</dei:EntityCentralIndexKey>
    <ffd:OfferingTableNa contextRef="c_report" id="fee_004" xsi:nil="true"/>
    <ffd:OffsetTableNa contextRef="c_report" id="fee_005">N/A</ffd:OffsetTableNa>
    <ffd:CombinedProspectusTableNa contextRef="c_report" id="fee_006">N/A</ffd:CombinedProspectusTableNa>
    <ffd:FormTp contextRef="c_report" id="fee_007">F-3</ffd:FormTp>
    <dei:EntityRegistrantName contextRef="c_report" id="fee_008">WPP plc</dei:EntityRegistrantName>
    <ffd:PrevslyPdFlg contextRef="c_offering_1" id="fee_009">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_1" id="fee_010">Debt</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_1" id="fee_011">Debt Securities</ffd:OfferingSctyTitl>
    <ffd:FeesOthrRuleFlg contextRef="c_offering_1" id="fee_012">true</ffd:FeesOthrRuleFlg>
    <ffd:FeeRate
      contextRef="c_offering_1"
      decimals="INF"
      id="fee_013"
      unitRef="pure">0.0001381</ffd:FeeRate>
    <ffd:FeeAmt
      contextRef="c_offering_1"
      decimals="INF"
      id="ixv-253"
      unitRef="USD">0.00</ffd:FeeAmt>
    <ffd:PrevslyPdFlg contextRef="c_offering_2" id="fee_014">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="c_offering_2" id="fee_015">Other</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="c_offering_2" id="fee_016">Guarantees of Debt Securities</ffd:OfferingSctyTitl>
    <ffd:FeesOthrRuleFlg contextRef="c_offering_2" id="fee_017">true</ffd:FeesOthrRuleFlg>
    <ffd:FeeRate
      contextRef="c_offering_2"
      decimals="INF"
      id="fee_018"
      unitRef="pure">0.0001381</ffd:FeeRate>
    <ffd:FeeAmt
      contextRef="c_offering_2"
      decimals="INF"
      id="ixv-259"
      unitRef="USD">0.00</ffd:FeeAmt>
    <ffd:TtlOfferingAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-260"
      unitRef="USD">0.00</ffd:TtlOfferingAmt>
    <ffd:TtlFeeAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-261"
      unitRef="USD">0.00</ffd:TtlFeeAmt>
    <ffd:TtlOffsetAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-262"
      unitRef="USD">0.00</ffd:TtlOffsetAmt>
    <ffd:NetFeeAmt
      contextRef="c_report"
      decimals="INF"
      id="ixv-263"
      unitRef="USD">0.00</ffd:NetFeeAmt>
    <ffd:OfferingNote contextRef="c_offering_1" id="ixv-264">WPP plc. is registering an indeterminate number of debt securities for offer and sale from time to time at indeterminate offering prices. In reliance on Rule 456(b) and Rule 457(r) under the Securities Act of 1933, as amended (the &#x201c;Securities Act&#x201d;), the WPP plc hereby defers payment of the registration fee required in connection with this Registration Statement. Accordingly, no filing fee is paid herewith.</ffd:OfferingNote>
    <ffd:OfferingNote contextRef="c_offering_2" id="ixv-265">No separate consideration will be received for the guarantees. Pursuant to Rule 457(n) under the Securities Act, no separate registration fee is required with respect to the guarantees.</ffd:OfferingNote>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
