Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 77

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 77
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 as “relevant persons”).
This prospectus supplement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant
persons. Any investment or investment activity to which this prospectus supplement relates is available only to relevant persons and will
be engaged in only with relevant persons.

Switzerland

Each Underwriter has severally, and not jointly,
represented and agreed that:

(i) it
will not make a public offer of the Senior Notes, directly or indirectly, in Switzerland, as such terms are defined or interpreted under
the Swiss Financial Services Act (“FinSA”);

<div align='center'>S-49</div>

(ii) the Senior Notes will not be admitted by
it to trading on a trading venue (exchange or multilateral trading facility) in Switzerland;

(iii) it will not offer, sell, advertise or distribute
the Senior Notes, directly or indirectly, in Switzerland, as such terms are defined or interpreted under the FinSA, except to professional
clients as such term is defined or interpreted under the FinSA (the “Professional Investors”); and

(iv) it acknowledges that no key information
document pursuant to article 58(1) FinSA (or any equivalent document under the FinSA) has been or will be prepared in relation to any
Senior Notes and that, therefore, any Senior Notes with a derivative character within the meaning of article 86(2) of the Swiss Financial
Services Ordinance may not be offered or recommended to private clients within the meaning of the FinSA in Switzerland.

The Senior Notes may not be publicly offered,
directly or indirectly, in Switzerland, except to Professional Investors. Offering or marketing material relating to Senior Notes may
not be distributed or otherwise made available in Switzerland, except to Professional Investors.

The Senior Notes do not constitute participations
in a collective investment scheme within the meaning of the Swiss Collective Investment Schemes Act (“CISA”). Therefore, the
Senior Notes are not subject to the approval of, or supervision by, the Swiss Financial Market Supervisory Authority (“FINMA”),
and investors in the Senior Notes will not benefit from protection under the CISA or supervision by FINMA.

Republic of Italy

Each Underwriter has severally, and not jointly,
represented and agreed that it has not offered, sold or otherwise made available, and will not offer, sell or otherwise make available,
any Senior Notes to any investor in Italy.

Hong Kong

Each Underwriter has severally, and not jointly,
represented and agreed that