Euro 6,000,000,000 Euro Medium Term Note Programme Due from ...

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Index Ratio (as defined below), as determined by the Calculation Agent on the following basis: (a) On the fifth Business Day before each Interest Payment Date (an "Interest Determination Date") the Calculation Agent will calculate the Inflation Index Ratio. For the purpose of this Condition 5(c)(iv)(A), the "Inflation Index Ratio" or "IIR" is the ratio between (i) the CPI Daily Inflation Reference Index (as defined below) applicable upon any Interest Payment Date or the redemption date, as the case may be and (ii) the base reference defined as the CPI Daily Inflation Reference Index (as defined below) applicable on the date specified in the applicable Final Terms (the "Base Reference"). Notwithstanding Condition 5(h)(iii), the IIR will be rounded if necessary to five significant figures (with halves being rounded up). "CPI Daily Inflation Reference Index" means (i) in relation to the first day of any given month, the CPI Monthly Reference Index of the third month preceeding such month, and (ii) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the CPI Monthly Reference Index pertaining respectively to the third month preceeding such month (M - 3) and the second month preceeding such month (M - 2) calculated in accordance with the following formula: CPI Daily Inflation Reference Index = With: "NDM": actual number of days in the relevant month M; "D": actual day of payment in the relevant month M; "CPI Monthly Reference Index M-2": price index of month M - 2; "CPI Monthly Reference Index M-3": price index of month M - 3. Notwithstanding Condition 5(h)(iii), the CPI Daily Inflation Reference Index will be rounded if necessary to five significant figures (with halves being rounded up) For information purposes, such CPI Daily Inflation Reference Index appears on the Agence France Trésor Reuters page OATINFLATION01 or on Bloomberg TRESOR pages and on the website www.aft.gouv.fr. In the case of doubt in the interpretation of the methods used to calculate the Inflation Index Ratio, such methods shall be interpreted by reference to the procedures selected by the French Treasury (Trésor) for its obligations assimilables au Trésor indexées sur l'inflation. "CPI Monthly Reference Index" refers to the definitive consumer price index excluding tobacco for all households in metropolitan France, as calculated and published monthly by the INSEE as such index may be adjusted or replaced from time to time as provided herein. 40
(b) CPI Monthly Reference Index M – 1 The calculation method described in this Condition is based on the recommendation issued by the French Bond Association (Comité de Normalisation Obligataire - www.cnofrance.org) in its December 2010 Paper entitled "Inflation Indexed Notes" (Obligations et autres instruments de taux d'intérêts en euro, Normes et usages des marchés de capitaux - Chapitre II: Les obligations indexées sur l'inflation). In the case of any conflict between this calculation method provided below and the calculation method provided by the French Bond Association (Comité de Normalisation Obligataire), the calculation method provided by the French Bond Association (Comité de Normalisation Obligataire) shall prevail. (i) If the CPI Monthly Reference Index is not published in a timely manner, a substitute CPI Monthly Reference Index (the "Substitute CPI Monthly Reference Index") shall be determined by the Calculation Agent in accordance with the following provisions: (x) If a provisional CPI Monthly Reference Index (indice provisoire) has already been published, such index shall automatically be used as the Substitute CPI Monthly Reference Index. Such provisional CPI Monthly Reference Index would be published under the heading "indice de substitution". Once the definitive CPI Monthly Reference Index is released, it would automatically apply from the day following its release to all calculations taking place from this date. (y) If no provisional CPI Monthly Reference Index is available, a substitute index shall be calculated on the basis of the most recently published figure adjusted as set out in the following formula: Substitute CPI Monthly Reference IndexM= 41 CPI Monthly Reference Index M -1 CPI Monthly Reference Index M -13 (ii) In the event INSEE decides to proceed with one or more base changes for the purpose of calculating the CPI Monthly Reference Index at any time while any of the Notes are still outstanding, then for the purpose of calculating the relevant Rate of Interest in respect of such Notes, the value of the CPI Monthly Reference Index following such change in base shall be determined in accordance with the methodology published by INSEE. In the event that no such methodology is published, then the Calculation Agent shall make such calculation as it, in its reasonable discretion, deems appropriate to determine the relevant CPI Monthly Reference Index. (B) Harmonised Index of Consumer Prices Where the harmonised index of consumer price (excluding tobacco) measuring the rate of inflation in the European Monetary Union as calculated and published monthly by Eurostat (the "HICP") is specified as 1 12
Page 1 and 2: (incorporated as a société anonym
Page 3 and 4: This Base Prospectus does not const
Page 5 and 6: RISK FACTORS RELATING TO THE ISSUER
Page 7 and 8: 1.4 Modification, waivers and subst
Page 9 and 10: 1.11 Currency Risk Prospective inve
Page 11 and 12: 2.3 Investors will not be able to c
Page 13 and 14: DOCUMENTS INCORPORATED BY REFERENCE
Page 15 and 16: Information incorporated by referen
Page 17 and 18: SUPPLEMENT TO THE BASE PROSPECTUS I
Page 19 and 20: Fiscal Agent, Principal Paying Agen
Page 21 and 22: Notes: Inflation Linked Notes may b
Page 23 and 24: Rating: The Programme has been rate
Page 25 and 26: For the purpose of these Conditions
Page 27 and 28: country of the Specified Currency,
Page 29 and 30: (c) "Existing Security on After-Acq
Page 31 and 32: This Condition 4 shall not apply to
Page 33 and 34: included the Calculation Period, un
Page 35 and 36: "Interest Accrual Period" means the
Page 37 and 38: into the next calendar month, in wh
Page 39: Rate of Interest shall be the arith
Page 43 and 44: (b) in the European Monetary Union
Page 45 and 46: other form and including, any inter
Page 47 and 48: 6 Redemption, Purchase and Options
Page 49 and 50: "Similar Security" means a referenc
Page 51 and 52: "IIR" being for the purpose of this
Page 53 and 54: or comply with one or more of its o
Page 55 and 56: the Noteholders given within 30 day
Page 57 and 58: (iii) Upon the due date for redempt
Page 59 and 60: case of Arrears of Interest, refere
Page 61 and 62: The Representative will be entitled
Page 63 and 64: may accrue with respect to the Note
Page 65 and 66: 14 Notices (a) Notices to the holde
Page 67 and 68: Temporary Global Certificate and a
Page 69 and 70: History of VINCI DESCRIPTION OF THE
Page 71 and 72: Organisational structure Concession
Page 73 and 74: deconstruction, drainage, earthwork
Page 75 and 76: type in the United States. East End
Page 77 and 78: The following press release was pub
Page 79 and 80: DOCUMENTS ON DISPLAY For so long as
Page 81 and 82: thereto to the public in that Relev
Page 83 and 84: (b) in any other circumstances wher
Page 85 and 86: amended by Directive 2010/73/EU) (t
Page 87 and 88: of the Notes: Decision of the Board
Page 89 and 90: 19. Zero Coupon Note Provisions: [A
Page 91 and 92:
24. Put Option: [Applicable/Not App
Page 93 and 94:
- Inflation Index Ratio: [•] - Pa
Page 95 and 96:
RESPONSIBILITY The Issuer accepts r
Page 97 and 98:
[[None of [●], [●] and] [●] i
Page 99 and 100:
9. PLACING AND UNDERWRITING - DERIV
Page 101 and 102:
Please refer to the section "EU Sav
Page 103 and 104:
(1) Corporate authorisations GENERA
Page 105 and 106:
PERSON RESPONSIBLE FOR THE INFORMAT
Page 107:
Fiscal Agent, Principal Paying Agen
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