Redemption at the Option of the Issuer

If an “Issuer Call” is specified as applicable in the relevant Final Terms, the Issuer may, at its option, on giving not less than fifteen (15) nor more than thirty (30) calendar days’ notice to the holders of such Note in accordance with Condition 16 (Notices), (or such other notice period as may be specified in the relevant Final Terms) redeem all or, if so provided, only some of, the outstanding Notes on any optional redemption date(s) as specified in the relevant Final Terms.

Optional Redemption Date:14 January 2030 (5Y) (the “First Reset Date”)

Clean-Up Redemption Option

If a “Clean-up Redemption Option” is specified as applicable in the relevant Final Terms, and if 75 per cent. or any higher percentage specified in the relevant Final Terms (the “Clean-up Percentage”) of the initial aggregate nominal amount of Notes (which for the avoidance of doubt includes, any additional Notes issued subsequently and forming a single series with the first Tranche of a particular Series of Notes) have been redeemed or purchased by, or on behalf of, the Issuer or any of its subsidiaries and, in each case, cancelled, the Issuer may, at its option, but subject (i) in the case of Senior Notes, to the provisions of Condition 7(j) (Additional conditions to redemption or purchase and cancellation of Senior Notes) and (ii) in the case of Subordinated Notes and Deeply Subordinated Notes, to the provisions of Condition 7(k) (Additional conditions to redemption or purchase and cancellation of Subordinated Notes and Deeply Subordinated Notes), on giving not less than fifteen (15) nor more than thirty (30) calendar days’ notice to the holders of such Note in accordance with Condition 16 (Notices) (or such other notice period as may be specified in the relevant Final Terms) redeem the outstanding Notes, in whole but not in part, at their Optional Redemption Amount determined in accordance with Condition 7(m) (Optional Redemption Amounts) (together with any interest accrued thereon but unpaid to the date set for redemption) (i) in the case of Senior Non-Preferred Notes, on any Optional Clean-up Redemption Date as specified in the relevant Final Terms, and (ii) in the case of Notes other than Senior Non-Preferred Notes, at any time.

Optional Clean-Up Redemption Dates: At any time

Redemption upon the occurrence of a MREL/TLAC Disqualification Event

(i) If “MREL/TLAC Disqualification Event Call Option” is specified as applicable in the relevant Final Terms, then upon the occurrence of a MREL/TLAC Disqualification Event, the Issuer may, at its option, at any time and subject to the provisions of Condition 7(c)(ii) below and having given not more than thirty (30) nor less than fifteen (15) calendar days’ prior notice to the holders of such Notes in accordance with Condition 16 (Notices), redeem all (but not some only) of the outstanding Notes at their Early Redemption Amount determined in accordance with Condition 7(l) (Early Redemption Amounts) (together with any interest accrued thereon but unpaid to the date set for redemption).

(ii) Any redemption upon the occurrence of a MREL/TLAC Disqualification Event will be subject :

(a) in the case of Senior Notes, to the provisions of Condition 7(j) (Additional conditions to redemption, purchase and cancellation of Senior Notes), and

(b) in the case of Subordinated Notes and Deeply Subordinated Notes, to the provisions of Condition 7(k) (Additional conditions to redemption or purchase and cancellation of Subordinated Notes and Deeply Subordinated Notes).

Redemption upon the occurrence of a Capital Event with respect to Subordinated Notes and Deeply Subordinated Notes

If the Notes are Subordinated Notes or Deeply Subordinated Notes, upon the occurrence of a Capital Event, the Issuer may, at its option, but subject to the provisions of Condition 7(k) (Additional conditions to redemption or purchase and cancellation of Subordinated Notes and Deeply Subordinated Notes), at any time, subject to having given not more than thirty (30) nor less than fifteen (15) calendar days’ notice to the Noteholders in accordance with Condition 16 (Notices), redeem all (but not some only) of such outstanding Subordinated Notes or Deeply Subordinated Notes (as applicable) at their Early Redemption Amount determined in accordance with Condition 7(l) (Early Redemption Amounts) (together with any interest accrued thereon but unpaid to the date set for redemption).

Waiver of Set-Off

No holder of any Note, Receipt, Coupon or Talon may at any time exercise or claim any Waived Set-Off Rights against any right, claim, or liability the Issuer has or may have or acquire against such holder, directly or indirectly, howsoever arising (and, for the avoidance of doubt, including all such rights, claims and liabilities arising under or in relation to any and all agreements or other instruments of any sort, whether or not relating to such Note, Receipt, Coupon or Talon) and each such holder shall be deemed to have waived all Waived Set-Off Rights to the fullest extent permitted by applicable law in relation to all such actual and potential rights, claims and liabilities.

For the avoidance of doubt, nothing in this Condition 15 is intended to provide, or shall be construed as acknowledging, any right of deduction, set-off, netting, compensation, retention or counterclaim or that any such right is or would be available to any holder of any Note, Receipt, Coupon or Talon but for this Condition 15.

“Waived Set-Off Rights” means any and all rights of or claims of any holder of any Note, Receipt, Coupon or Talon for deduction, set-off, netting, compensation, retention or counterclaim arising directly or indirectly under or in connection with any Note, Receipt, Coupon or Talon.