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  • Current as of: September 15, 2018

    Merrill Lynch Professional Clearing Corp. One Bryant Park, New York, New York 10036

    Merrill Lynch Professional Clearing Corp. Supplemental Data for Private Placement of

    Floating Rate Preferred Stock

  • TABLE OF CONTENTS

    # of pages

    MERRILL LYNCH PROFESSIONAL CLEARING CORP

    CERTIFICATE OF INCORPORATION 16

    MERRILL LYNCH PROFESSIONAL CLEARING CORP BY-LAWS 20

    MERRILL LYNCH PROFESSIONAL CLEARING CORP FORM OF

    FLOATING RATE PREFERRED STOCK PURCHASE AGREEMENT 13

    MERRILL LYNCH PROFESSIONAL CLEARING CORP FORM

    OF STOCK CERTIFICATE 2

  • Current as of: September 15, 2018

    Merrill Lynch Professional Clearing Corp. One Bryant Park, New York, New York 10036

    Merrill Lynch Professional Clearing Corp

    Certificate of Incorporation

  • Delaware The First State

    Page 1

    2050978 8100 Authentication: 202789004 SR# 20184481173 Date: 05-30-18 You may verify this certificate online at corp.delaware.gov/authver.shtml

    I, JEFFREY W. BULLOCK, SECRETARY OF STATE OF THE STATE OF

    DELAWARE, DO HEREBY CERTIFY THE ATTACHED IS A TRUE AND CORRECT

    COPY OF THE RESTATED CERTIFICATE OF “MERRILL LYNCH PROFESSIONAL

    CLEARING CORP.”, FILED IN THIS OFFICE ON THE TWENTY-NINTH DAY

    OF MAY, A.D. 2018, AT 12:30 O`CLOCK P.M.

    A FILED COPY OF THIS CERTIFICATE HAS BEEN FORWARDED TO THE

    NEW CASTLE COUNTY RECORDER OF DEEDS.

  • ARTICLE III

    CORPORATE PURPOSES

    The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware.

    ARTICLE IV

    CAPITAL STOCK

    SECTION 1. Shares, Classes and Series Authorized. The total number of shares of all classes of capital stock which the Corporation shall have authority to issue is sixty thousand (60,000) shares, of which fifty thousand (50,000) shares shall be Common Stock, par value of one dollar ($1.00) per share (hereinafter called "Common Stock"), and ten thousand (10,000) shares shall be preferred stock, of which two thousand five hundred (2,500) shares shall be considered 5% Preferred Stock, par value of one dollar ($1.00) per share, liquidation preference $1,000 per share (hereinafter called "Preferred Stock"), five thousand (5,000) shares shall be considered Floating Rate Preferred Stock, par value of one dollar ($1.00) per share, liquidation preference $1,000 per share (hereinafter called "Floating Rate Preferred Stock"), and the remaining two thousand five hundred (2,500) shares have yet to have terms designated.

    SECTION 2. Description of Capital Stock. The following is a description of each of the classes of capital stock which the Corporation has authority to issue with the designations, preferences, voting powers and participating, optional or other special rights and the qualifications, limitations or restrictions thereof:

    5% PREFERRED STOCK

    (a) Voting Rights. Shares of Preferred Stock shall have no voting rights with respect to election of directors of the Corporation, amendment of the Certificate of Incorporation of the Corporation, increase, decrease or other adjustment of the authorized shares of any class or series of shares of the capital stock of the Corporation or otherwise, except as affirmatively required by law.

    (b) Dividends. Each share of Preferred Stock shall be entitled to a cumulative cash dividend rate of 5% per annum of the liquidation preference thereof, and the holder thereof on each March 1 shall be entitled to receive payment thereof, when and as declared payable by the Board of Directors, in the amount of $50.00 on March 15 of each year, and no more, and such holder shall not be entitled to receive or participate in any other or additional dividend, whether payable in cash, property or securities of the Corporation or otherwise, declared and paid by the Corporation. No dividend may be paid on any shares of the Common Stock of the Corporation as long as any dividend on any share of Preferred Stock is payable but unpaid. Dividends on the Preferred Stock need not enjoy any priority of payment with respect to the dividend rights of any shares of any other class or series of preferred or special stock of the Corporation and may be or become inferior in priority of payment with respect to the dividend rights of any such shares issued by the Corporation.

    2

  • Merrill Lynch Professional Clearing Corp. One Bryant Park, New York, New York 10036

    Merrill Lynch Professional Clearing Corp

    By-Laws

    Current as of: September 15, 2018

  • Merrill Lynch Professional Clearing Corp. One Bryant Park, New York, New York 10036

    Merrill Lynch Professional Clearing Corp Form of Floating Rate Preferred Stock Purchase

    Agreement

    Current as of: September 15, 2018

  • Rev. September 15, 2018

    MERRILL LYNCH PROFESSIONAL CLEARING CORP.

    FLOATING RATE PREFERRED STOCK PURCHASE AGREEMENT

    (MLPCC Form No. FRPSPA2)

  • i Rev. September 15, 2018

    TABLE OF CONTENTS

    UPage

    ARTICLE I

    PURCHASE AND SALE

    SECTION 1.1 Purchase and Sale .................................................................................... 1 SECTION 1.2 Closing ..................................................................................................... 1 SECTION 1.3 Regulatory Approval ................................................................................ 1

    ARTICLE II

    REPRESENTATIONS AND WARRANTIES OF MLPCC

    SECTION 2.1 Corporate Organization ............................................................................ 2 SECTION 2.2 Corporate Authority ................................................................................. 2 SECTION 2.3 Due Authorizations of Shares .................................................................. 2 SECTION 2.4 Governmental Consents ........................................................................... 2 SECTION 2.5 Licenses.................................................................................................... 2 SECTION 2.6 Representations and Warranties at Closing ............................................. 2

    ARTICLE III

    COVENANTS OF MLPCC

    SECTION 3.1 Financial Statements ................................................................................ 3

    ARTICLE IV

    REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER

    SECTION 4.1 Existence .................................................................................................. 3 SECTION 4.2 Requisite Authority .................................................................................. 3 SECTION 4.3 Ability to Bear Risk ................................................................................. 3 SECTION 4.4 Evaluation of Risks .................................................................................. 3 SECTION 4.5 Accredited Investor .................................................................................. 3 SECTION 4.6 Purchase for Investment ........................................................................... 4 SECTION 4.7 Opportunity to Question .......................................................................... 4 SECTION 4.8 Reliance on Private Placement Memorandum ......................................... 4 SECTION 4.9 No Government Review. ......................................................................... 4 SECTION 4.10 Representations and Warranties at Closing ............................................. 4 SECTION 4.11 Ownership Interest in MLPCC; Minimum Liquidating Equity ............... 4

  • ii Rev. September 15, 2018

    ARTICLE V

    COVENANTS OF THE PURCHASER

    SECTION 5.1 Transfers of Floating Rate Preferred Stock; Right of First Refusal ......... 5 SECTION 5.2 Transfers to Comply With Certain Requirements ................................... 7 SECTION 5.3 Status as a Registered Broker-Dealer or a Member of a National

    Securities Exchange ................................................................................. 7

    ARTICLE VI

    OTHER PROVISIONS

    SECTION 6.1 Restrictive Legend ................................................................................... 7 SECTION 6.2 Assignment .............................................................................................. 8 SECTION 6.3 Governing Law. ....................................................................................... 8 SECTION 6.4 Captions ................................................................................................... 8 SECTION 6.5 Entire Agreement ..................................................................................... 8 SECTION 6.6 Counterparts ............................................................................................. 8 SECTION 6.7 Amendments; Waivers ............................................................................. 8 SECTION 6.8 Notices ..................................................................................................... 8 SECTION 6.9 Confidentiality ......................................................................................... 9

  • Rev. September 15, 2018

    FLOATING RATE PREFERRED STOCK PURCHASE AGREEMENT

    AGREEMENT dated as of the date set forth on the signature