Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 103

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 103
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 funds or other things done under Article 73.1.

73.3. So far as
may be permitted by the Companies Acts, the Company:

<div align='center'>II-5</div>

(a) shall provide
a Relevant Director with funds to meet expenditure incurred or to be incurred by the Relevant Director in defending themselves in an investigation
by a regulatory authority or against action proposed to be taken by a regulatory authority in connection with any alleged negligence,
default, breach of duty or breach of trust by the Relevant Director in relation to the Company or any Associated Company; and

(b) may do anything
to enable the Relevant Director to avoid incurring such expenditure.

Section 232 of the Companies Act 2006 provides:

(1) Any provision that purports to exempt a director
of a company (to any extent) from any liability that would otherwise attach to him in connection with any negligence, default, breach
of duty or breach of trust in relation to the company is void.

(2) Any provision by which a company directly
or indirectly provides an indemnity (to any extent) for a director of the company, or of an associated company, against any liability
attaching to him in connection with any negligence, default, breach of duty or breach of trust in relation to the company of which he
is a director is void, except as permitted by–

(a) section 233 (provision of insurance),

(b) section 234 (qualifying third party indemnity
provision), or

(c) section 235 (qualifying pension scheme indemnity
provision).

(3) This section applies to any provision, whether
contained in a company’s articles or in any contract with the company or otherwise.

(4) Nothing in this section prevents a company’s
articles from making such provision as has previously been lawful for dealing with conflicts of interest.

Section 234 of the Companies Act 2006 provides:

(1) Section 232(2) (voidness of provisions for
indemnifying directors) does not apply to qualifying third party indemnity provision.

(2) Third party indemnity provision means provision
for indemnity against liability incurred by the director to a person other than the company or an associated company.

Such provision is qualifying third party indemnity
provision if the following requirements are met.

(3) The provision must not provide any indemnity
against:

(a) any liability of the director to pay:

(i) a fine imposed in criminal proceedings, or