Lehman Brothers Financial SA (LEHNQ)

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“Affiliate”, with respect to LBHI, means LBHI’s controlled
affiliates.

Therefore, LBIE and LBH PLC,,,, are LBHI's affiliates for purposes for the CTs' Guarantee and prospectuses.

WITHOUT PREJUDICE
SUBJECT TO CONTRACT
1
LEHMAN BROTHERS HOLDINGS PLC (IN ADMINISTRATION) (“PLC”)
Term sheet: Resolution of certain issues in relation to PLC’s estate
This term sheet represents the current understanding of the Parties with respect to the terms of the
proposed resolution of certain issues in relation to the estate of PLC. Save for the section headed “Binding
terms”, this term sheet: (i) does not constitute an offer by any party capable of acceptance by any other
Party (and shall not become legally binding on, or otherwise enforceable by or against, any Party); (ii) is
not intended to create, evidence or imply any legal relationship or contract between the Parties; (iii) does
not represent an exhaustive list of matters to be incorporated into the framework agreement to be
entered into between the Parties (the “Framework Agreement”); and (iv) is strictly without prejudice and
subject to contract and the Framework Agreement being agreed and executed by the Parties.
Date: 21 September 2023
1 Parties: (1) The current joint administrators of PLC, being Edward John
Macnamara, Gillian Eleanor Bruce, and David James Kelly
(the “PLC Administrators”)
(2) PLC
(3) LB GP No.1 Limited (in liquidation) as general partner of
each of the ECAPS Issuers (“GP1”)
(4) The current joint liquidators of GP1, being Bruce Alexander
Mackay and Matthew Robert Haw (the “JLs”)
(5) The ECAPS Issuers (as defined below)
(6) Lehman Brothers Holdings Inc. (“LBHI”)
(7) LB Investment Holdings Ltd (“PLP”)
(8) Deutsche Bank A.G. (London Branch) (“DB”)
The non-Parties who receive certain releases in the Framework
Agreement shall have the benefit of those releases as third parties,
but shall not be required to consent to any termination or variation
of that agreement.
For the avoidance of doubt, any reference to a Party shall include
that Party’s successors and assigns.
The Individual Respondents (defined below) other than the PLC
Administratorsshall not be party to the Framework Agreement but
shall be party to the separate 7(f) Application Settlement (as
defined below).
2 Definitions Terms bearing initial capitals shall have the meanings given to
them by this Term Sheet, including the following not otherwise
defined herein:***here***
“Affiliate”, with respect to LBHI, means LBHI’s controlled
affiliates.