I have packages built with above patch applied, which I suspect is the missing 
portion to fix this.
It is available from this ppa 
https://launchpad.net/~ci-train-ppa-service/+archive/ubuntu/3015
$ sudo add-apt-repository ppa:ci-train-ppa-service/3015
$ sudo apt-get update

I am failing to reproduce the reported regression, with quite similar
setup. (See below).

Am I missing some sysctls to reproduce the regression? Or are my
bonds/vlans/ethernet not suitable to trigger this regression?

# ip link
1: lo: <LOOPBACK,UP,LOWER_UP> mtu 65536 qdisc noqueue state UNKNOWN mode 
DEFAULT group default qlen 1
    link/loopback 00:00:00:00:00:00 brd 00:00:00:00:00:00
2: enp3s0f0: <BROADCAST,MULTICAST,SLAVE,UP,LOWER_UP> mtu 1500 qdisc mq master 
bond0 state UP mode DEFAULT group default qlen 1000
    link/ether 4a:fd:00:df:13:a3 brd ff:ff:ff:ff:ff:ff
3: enp3s0f1: <BROADCAST,MULTICAST,SLAVE,UP,LOWER_UP> mtu 1500 qdisc mq master 
bond0 state UP mode DEFAULT group default qlen 1000
    link/ether 4a:fd:00:df:13:a3 brd ff:ff:ff:ff:ff:ff
4: bond0: <BROADCAST,MULTICAST,MASTER,UP,LOWER_UP> mtu 1500 qdisc noqueue state 
UP mode DEFAULT group default qlen 1000
    link/ether 4a:fd:00:df:13:a3 brd ff:ff:ff:ff:ff:ff
5: bond0.204@bond0: <BROADCAST,MULTICAST,UP,LOWER_UP> mtu 1500 qdisc noqueue 
state UP mode DEFAULT group default qlen 1000
    link/ether bc:76:4e:20:69:4c brd ff:ff:ff:ff:ff:ff
6: bond0.104@bond0: <BROADCAST,MULTICAST,UP,LOWER_UP> mtu 1500 qdisc noqueue 
state UP mode DEFAULT group default qlen 1000
    link/ether bc:76:4e:20:68:3d brd ff:ff:ff:ff:ff:ff

# dpkg -l | grep 229-4ubuntu20
ii  libpam-systemd:amd64               229-4ubuntu20                            
  amd64        system and service manager - PAM module
ii  libsystemd0:amd64                  229-4ubuntu20                            
  amd64        systemd utility library
ii  libudev1:amd64                     229-4ubuntu20                            
  amd64        libudev shared library
ii  systemd                            229-4ubuntu20                            
  amd64        system and service manager
ii  systemd-sysv                       229-4ubuntu20                            
  amd64        system and service manager - SysV links
ii  udev                               229-4ubuntu20                            
  amd64        /dev/ and hotplug management daemon


==> 10-netplan-bond0.104.netdev <==
[NetDev]
Name=bond0.104
MACAddress=bc:76:4e:20:68:3d
Kind=vlan

[VLAN]
Id=104

==> 10-netplan-bond0.104.network <==
[Match]
Name=bond0.104

[Network]
Address=172.99.85.226/30
Address=2001:4802:78fd:33:be76:4eff:fe20:683d/64

[Route]
Destination=0.0.0.0/0
Gateway=172.99.85.225

[Route]
Destination=::/0
Gateway=2001:4802:78fd:33::1

==> 10-netplan-bond0.204.netdev <==
[NetDev]
Name=bond0.204
MACAddress=bc:76:4e:20:69:4c
Kind=vlan

[VLAN]
Id=204

==> 10-netplan-bond0.204.network <==
[Match]
Name=bond0.204

[Network]
Address=10.184.228.158/30

[Route]
Destination=10.176.0.0/12
Gateway=10.184.228.157

[Route]
Destination=10.208.0.0/12
Gateway=10.184.228.157

==> 10-netplan-bond0.netdev <==
[NetDev]
Name=bond0
Kind=bond

[Bond]
Mode=802.3ad
MIIMonitorSec=100
TransmitHashPolicy=layer3+4

==> 10-netplan-bond0.network <==
[Match]
Name=bond0

[Network]
VLAN=bond0.204
VLAN=bond0.104

==> 10-netplan-enp3s0f0.link <==
[Match]
MACAddress=58:20:b1:00:b8:4c

[Link]
Name=enp3s0f0
WakeOnLan=off
MTUBytes=1500

==> 10-netplan-enp3s0f0.network <==
[Match]
MACAddress=58:20:b1:00:b8:4c
Name=enp3s0f0

[Network]
DNS=69.20.0.196
DNS=69.20.0.164
Bond=bond0
LinkLocalAddressing=no
IPv6AcceptRA=no

==> 10-netplan-enp3s0f1.link <==
[Match]
MACAddress=58:20:b1:00:b8:4d

[Link]
Name=enp3s0f1
WakeOnLan=off
MTUBytes=1500

==> 10-netplan-enp3s0f1.network <==
[Match]
MACAddress=58:20:b1:00:b8:4d
Name=enp3s0f1

[Network]
DNS=69.20.0.196
DNS=69.20.0.164
Bond=bond0
LinkLocalAddressing=no
IPv6AcceptRA=no

-- 
You received this bug notification because you are a member of Ubuntu
Touch seeded packages, which is subscribed to systemd in Ubuntu.
https://bugs.launchpad.net/bugs/1727301

Title:
  229-4ubuntu20 added ARP option breaks existing bonding interfaces

Status in systemd:
  Fix Released
Status in systemd package in Ubuntu:
  Fix Released
Status in systemd source package in Xenial:
  In Progress
Status in systemd source package in Zesty:
  Fix Released
Status in systemd source package in Artful:
  Fix Released
Status in systemd source package in Bionic:
  Fix Released

Bug description:
  [Impact]

   * Incomplete cherrypick of ARP functionality in networkd resulted in
  an undesired side-effect, specifically NOARP flag started to be
  applied unconditionally, specifically when it should not have,
  resulting in loss of network connectivity.

  * This is a regression in -updates.

  [Test Case]

   * Configure a bond using networkd
   * Upgrade
   * Make sure NOARP flag is not set on the interfaces / bond

  [Regression Potential]

   * This is an upstream fix for this issue.

  [Other Info]
   
   * Upstream fix
  
https://github.com/systemd/systemd/commit/1ed1f50f8277df07918e13cba3331a114eaa6fe3.patch
   
   * Original bug report

  this breaks existing configurations with bonding on upgrading from
  229-4ubuntu19 to 229-4ubuntu20 on xenial

  as bond interfaces are now by default configured without ARP. Hence
  you suddenly lose network connectivity on upgrade. Very bad for a SRU.

  Plus adding "ARP=yes" to the Link section of a .network file does not
  work.

  Before this update, bond interfaces (specifically 802.3ad) were
  defaulting to ARP enabled. After the upgrade, they are created with
  NOARP set on the link.

  pre-upgrade:

  eth0: <BROADCAST,MULTICAST,SLAVE,UP,LOWER_UP>
  eth1: <BROADCAST,MULTICAST,SLAVE,UP,LOWER_UP>
  bond0: <BROADCAST,MULTICAST,MASTER,UP,LOWER_UP>

  post-upgrade:
  eth0: <BROADCAST,MULTICAST,NOARP,SLAVE,UP,LOWER_UP>
  eth1: <BROADCAST,MULTICAST,NOARP,SLAVE,UP,LOWER_UP>
  bond0: <BROADCAST,MULTICAST,NOARP,MASTER,UP,LOWER_UP>

  Linux cnode11 4.4.0-97-generic #120-Ubuntu SMP Tue Sep 19 17:28:18 UTC
  2017 x86_64 x86_64 x86_64 GNU/Linux

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