Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 62

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 62
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 and/or the Group and determined in accordance with, and pursuant to, the
relevant Loss Absorption Regulations; provided that a Loss Absorption Disqualification Event shall not occur where the exclusion of the
Senior Notes from the relevant minimum requirement(s) is due to the remaining maturity of the Senior Notes being less than any period
prescribed by any applicable eligibility criteria for such minimum requirements under the relevant Loss Absorption Regulations effective
with respect to LBG and/or the Group on the issue date of the first tranche of the Senior Notes.

<div align='center'>S-47</div>

“Loss Absorption Regulations” means,
at any time, the laws, regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds
and eligible liabilities and/or loss absorbing capacity instruments of the United Kingdom, the Relevant Regulator, the relevant U.K. resolution
authority and/or the Financial Stability Board then applicable in the United Kingdom including, without limitation to the generality of
the foregoing, any regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds
and eligible liabilities and/or loss absorbing capacity instruments adopted or applied by the Relevant Regulator and/or the relevant U.K.
resolution authority from time to time (whether or not such regulations, requirements, guidelines, rules, standards or policies are applied
generally or specifically to LBG or to the Group).

Conditions to redemption and purchase, etc.

Any redemption or purchase of a series of Senior
Notes (other than redemption on the relevant maturity date), and any modification to the terms of a series of Senior Notes or any indenture
relating thereto, is subject to, if and to the extent then required by the Relevant Regulator or the Loss Absorption Regulations, our
giving notice to the Relevant Regulator and the Relevant Regulator granting us permission therefor and otherwise to compliance with the
Loss Absorption Regulations if and to the extent then required thereunder.

“Relevant Regulator” means, in relation
to the Senior Notes, the relevant U.K. resolution authority or such other governmental authority in the United Kingdom (or if LBG becomes
domiciled in a jurisdiction other than the United Kingdom, in such other jurisdiction) having primary supervisory authority with respect
to LBG and/or the Group in such circumstances.

Payment of Additional Amounts

Amounts to be paid on the Senior Notes will be
made without deduction or withholding for, or on account of, any and all present and future