Optional Deferral

Issuer may, at its sole discretion, elect to defer paying all or part of an interest on an interest payment date subject to none of the below having occurred during six months prior to that scheduled interest payment date (lookback pusher):

(i) declaration or payment of any dividends or distributions or other payment on or in respect of the Issuer’s junior obligations (or contribution to a sinking fund for such purpose); or

(ii) redemption, reduction, cancellation, buy-back or acquisition of any of the Issuer’s junior obligations at its discretion (or contribution to a sinking fund for such purpose), as more fully described in the Offering Circular

Dividend Stopper

Applicable. If the Issuer has deferred paying all or part of an interest on an interest payment date, it shall not, and shall procure that none of its subsidiaries shall:

(i) declare or pay any dividends or distributions or make any other payments on or in respect of any of the Issuer’s junior obligations (or contribute to a sinking fund for such purpose); or

(ii) redeem, reduce, cancel, buy-back or acquire for consideration any of the Issuer’s junior obligations at its discretion (or contribute any monies to a sinking fund for such purpose), unless and until all deferred coupons have been paid by the Issuer or the Issuer is permitted to do by an extraordinary resolution of the noteholders

Cumulative Interest

Any interest deferred pursuant to this Condition 4(k) shall constitute “Arrears of Interest”. The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4(k)(i)) further defer any Arrears of Interest by complying with the foregoing notice requirement applicable to any deferral of an accrued interest. The Issuer is not subject to any limit as to the number of times interests and Arrears of Interests can or shall be deferred pursuant to this Condition 4(k) except that this Condition 4(k)(iii) shall be complied with until all outstanding Arrears of Interests have been paid in full.

Issuer may redeem the notes in whole (but not in part) on the first call date and every interest payment date thereafter, subject to prior approval by the MAS.

Optional Redemption Date(s): The First Call Date and each Interest Payment Date thereafter

The “First Call Date:17 April 2034

Redemption for Change of Qualification Event in respect of Subordinated Notes

Subject to Condition 5(k), if as a result of:

(i) any change or proposed change to the relevant requirements issued by the MAS in relation to the qualifi cation of any Subordinated Notes issued by the Issuer as Tier 2 Capital Securities;

(ii) any change in the application of official or generally published interpretation of such relevant requirements issued by the MAS or any relevant authority (including a ruling or notice issued by the MAS or any relevant authority) regarding the qualification of any Subordinated Notes issued by the Issuer as Tier 2 Capital Securities; or

(iii) any interpretation or pronouncement by the MAS or any relevant authority that provides for a position with respect to such relevant requirements issued by the MAS that differs from the previously generally accepted position in relation to similar transactions or which differs from any specific written statements made by any authority regarding the qualifi cation of any Subordinated Notes issued by the Issuer as Tier 2 Capital Securities,

which change or amendment:

(A) becomes, or would become, effective on or after the Issue Date; or

(B) in the case of a change or proposed change to the relevant requirements issued, or is expected to be issued, by the MAS, if such change is issued by the MAS, on or after the Issue Date,

the relevant Subordinated Notes issued by the Issuer (in whole or in part) would not qualify as Tier 2 Capital Securities (a “Change of Qualifi cation Event”), then the Issuer may, having given not less than 30 nor more than 60 days’ prior written notice to the Noteholders (in accordance with Condition 15) and to the Trustee and the Issuing and Paying Agent in writing (which notice shall be irrevocable), redeem in accordance with these Conditions on any Interest Payment Date (if this Subordinated Note is at the relevant time a Floating Rate Note) or at any time (if this Subordinated Note is at the relevant time not a Floating Rate Note) all, but not some only, of the relevant Subordinated Notes issued by the Issuer, at their Early Redemption Amount or, if no Early Redemption Amount is specified hereon, at their nominal amount together with interest accrued but unpaid (if any) to (but excluding) the date of redemption in accordance with these Conditions.

Redemption upon a Change of Ratings Methodology Event

Where the applicable Pricing Supplement specifies this Condition 5(l) as applicable and subject to Condition 5(k), the Notes may be redeemed at the option of the Issuer in whole but not in part at any time on or after fi ve years from the date of issuance of the Notes on giving not less than 30 nor more than 60 days’ prior written notice to the Noteholders (in accordance with Condition 15) and to the Trustee and the Issuing and Paying Agent in writing (which notice shall be irrevocable), at their Early Redemption Amount, (together with interest accrued but unpaid (if any) to (but excluding) the date fixed for redemption).