PERMARAIL LIMITED

Ares Management Limited (As Security Agent for the Secured Parties) (as Defined in the Instrument)

Security interests (not expressed as floating charges) are created over all of the company's rights in any land and intellectual property. None is specified. See the instrument for more details.

Kroll Trustee Services Limited, as Security Trustee for Itself and the Secured Parties (The “Security Agent”)

Please see instrument for further details.

Oaknorth Bank PLC as Security Trustee