Form Of Election For Loan Note Alternative (Page 2 of 4) in pdf

Page 2

If you have any questions relating to the Scheme Document or the completion and return of this Form of Election, please call Hydro's

registrars, Capita Asset Services on 0371 664 0321. Calls are charged at the standard geographic rate and will vary by provider. Calls

outside the United Kingdom will be charged at the applicable international rate. The helpline is open between 9.00 a.m. – 5:30 p.m.,

Monday to Friday excluding public holidays in England and Wales. Please note that Capita Asset Services cannot provide any financial,

legal or tax advice and calls may be recorded and monitored for training and security and training purposes.

HOW TO COMPLETE THIS FORM

If you wish to receive cash for all the Scheme Shares that you hold at the Scheme Record Time and do not wish to make an

election under the Loan Note Alternative, do not return the Loan Note Form of Election.

This Form of Election should only be returned if you wish to make an election under the Loan Note Alternative.

TO MAKE AN ELECTION UNDER THE LOAN NOTE ALTERNATIVE IN RESPECT OF YOUR SCHEME

SHARES IN CERTIFICATED FORM

To elect for Loan Notes instead of the Cash Consideration you should insert in Box A either ‘ A LL’, or the number of your holding of

Scheme Shares in respect of which you wish to receive Loan Notes rather than Cash Consideration.

MAXIMUM NUMBER OF SCHEME SHARES IN RESPECT OF WHICH ELECTIONS CAN BE MADE

The number entered in Box A must not exceed the number of Scheme Shares of which you are the registered holder at the Scheme

Record Time. If the number entered in Box A exceeds the number of Scheme Shares of which you are the registered holder immediately

prior to the Scheme Record Time, the Form of Election you have made will be in respect of all your Scheme Shares.

INVALID ELECTIONS

If your Form of Election under the Loan Note Alternative is invalid for any reason, you will receive your entitlement under the Scheme

as if you had not made a Loan Note Election.

SIGNATURES

All Scheme Shareholders who are individuals should sign and date this Form of Election in the presence of an independent witness

who should sign this Form of Election (copies will not be accepted) and insert their name and address. The independent witness

must be at least 18 years of age and must not be your spouse or other immediate family member or any joint holders of Scheme

Shares. If this Form of Election is not signed by the registered holder(s) please insert the name(s) and capacity (e.g. executor) of

the person(s) signing this Form of Election. The person signing this Form of Election should provide evidence of his/her authority.

If this Form of Election is signed under a power of attorney, the original power of attorney (or a duly certified copy) should

accompany this Form of Election. This Form of Election shall be a binding legal contract when executed by you (or whoever signs

on your behalf) and any joint holders. A company may execute this Form of Election under its common seal, the seal being affixed

and witnessed in accordance with its articles of association or other regulations. Alternatively, this Form of Election may be executed

on behalf of a company by two authorised signatories or a director of the company in the presence of a witness who attests the

signature. A company incorporated outside England and Wales may sign in accordance with the provisions of the Overseas

Companies (Execution of Documents and Registration of Charges) Regulations 2009. In all cases, the name of the company must

be inserted above the signatures.

ALTERNATIVE ADDRESS

If you wish to notify Capita Asset Services of a change of address or wish the consideration and/or any return documents to be

sent to someone other than the sole or first named registered holder insert in Section C in BLOCK CAPITALS your new address or

the name and address of the person or agent (e.g. your bank) in the United Kingdom to whom you wish the consideration or return

documents to be sent and place a cross in the appropriate box. The address you insert must not be in a Restricted Jurisdiction.

CONTACT DETAILS

Please insert in Section D a telephone number on which you can be contacted during normal working hours in the event of any

questions arising from the completion of this Form of Election.

Form Of Election For Loan Note Alternative Page 2