Subject to Condition 5(k), if a Change of Qualification Event has occurred and is continuing, the Issuer may, having given not less than 30 but not more than 60 days’ prior written notice to the Noteholders in accordance with Condition 16 (which notice shall be irrevocable) and to the Trustee in writing, 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, 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 fixed for redemption in accordance with these Conditions.

“Change of Qualification Event” means:

(i) as a result of a change to the relevant requirements issued by the MAS in relation to the qualification of the Subordinated Notes as Tier 2 Capital Securities or to the recognition of the Subordinated Notes as eligible capital for calculating the total capital adequacy ratio of the Issuer (either on a consolidated or an unconsolidated basis) (“Eligible Capital”); or

(ii) as a result of any change in the application, or 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, or 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 qualification of the Subordinated Notes as Tier 2 Capital Securities of the Issuer or to the recognition of the Subordinated Notes as Eligible Capital, which change or amendment (a) (subject to (b)) becomes effective on or after the Issue Date, or (b) in the case of a change to the relevant requirements issued by the MAS, on or after the Issue Date, the relevant Subordinated Notes, in whole or in part, would not qualify as Tier 2 Capital Securities or Eligible Capital of the Issuer; or

(iii) for any other reason, the Subordinated Notes do not qualify as Tier 2 Capital Securities or as Eligible Capital of the Issuer.

Without prejudice to any provisions in this Condition 5, any redemption pursuant to Condition 5(c)(ii), Condition 5(d)(ii) or Condition 5(f) or variation pursuant to Condition 5(g) of any Subordinated Notes by the Issuer is subject to the Issuer obtaining the prior consent of the MAS.

First Call Date: 7 October 2027

Optional Redemption Date(s): The First Call Date only

Agreement with respect to the exercise of Bail-in Powers (as defined in the Conditions) in relation to Subordinated Notes and Perpetual Capital Securities Notwithstanding and to the exclusion of any other term of the

Subordinated Notes or Perpetual Capital Securities, as applicable, or any other agreements, arrangements, or understandings between the Issuer and the Trustee or any holder of any Subordinated Note or Perpetual Capital Security, as applicable, the Trustee and each holder of any Subordinated Note or Perpetual Capital Security, as applicable, (which, for the purposes of this clause, includes each holder of a beneficial interest in the Subordinated Notes or Perpetual Capital Securities, as applicable) by its acquisition of the Subordinated Notes or Perpetual Capital Securities, as applicable, acknowledges and accepts that the Subordinated Notes or Perpetual Capital Securities, as applicable (including but not limited to any Amounts Due (as defined in the Conditions) thereunder), may be the subject of a Bail-in Certificate (as defined in the Conditions), and subject to the exercise of Bail-in Powers by the Resolution Authority (as defined in the Conditions) without any prior notice, and acknowledges, accepts, consents, and agrees to be bound by the exercise of any provision of the Bail-in Certificate in accordance with its terms (which will take effect without any other or further act by the Issuer and which shall be binding on the Issuer, the Trustee and each holder of any Subordinated Notes or Perpetual Capital Securities, as applicable), and the effect of the exercise of the Bail-in Powers by the Resolution Authority, that may include and result in one or more of the following:

(a) the cancellation of the whole or a part of such Subordinated Notes or Perpetual Capital Securities, as applicable;

(b) the modification, conversion or change in form of the whole or a part of such Subordinated Notes or Perpetual Capital Securities, as applicable;

(c) that such Subordinated Notes or Perpetual Capital Securities, as applicable, are to have effect as if a right of modification, conversion or change of their form had been exercised under them; and

(d) any incidental, consequential and supplementary matters, including a requirement that the Issuer or any other person must comply with a general or specific direction set out in the Bail-in Certificate.

See Note Condition 6A and Perpetual Capital Securities Conditions 7A.