Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 79

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 79
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 capacity as a
guarantor makes payments under such guarantee, Lloyds Bank shall also be required to pay additional amounts with respect to any taxes
required to be withheld or deducted by any U.K. taxing jurisdiction from any payment under such guarantee subject to the exceptions described
under the heading “—Additional Amounts” above (with any necessary modifications). The subsidiary that assumes the obligations
will also be entitled to redeem the debt securities of the relevant series in the circumstances described in “—Redemption
of Senior Debt Securities” above with respect to any change or amendment to, or change in the application or official interpretation
of, the laws or regulations (including any treaty) of the assuming subsidiary’s jurisdiction of organization which occurs after
the date of the assumption. In the case of an assumption, the subsidiary that assumes the obligations will also be entitled to redeem
the debt securities of the relevant series in the circumstances described in “—Redemption of Senior Debt Securities”
above if Lloyds Bank needs to pay additional amounts on payments under the guarantee as a result of any change to, or change in the application
or official interpretation of, the laws or regulations (including any treaty) of a U.K. taxing jurisdiction which occurs after the issue
date.

An assumption of our obligations under the debt securities of any series might be deemed for U.S. federal income tax purposes to be an exchange of those debt securities for new debt securities by each beneficial owner, resulting in a recognition of taxable gain or loss for U.S. federal income tax purposes and possibly certain other adverse tax consequences. You should consult your tax advisor regarding the U.S. federal, state and local income tax consequences of an assumption.

Governing Law

The debt securities and the indenture will be
governed by and construed in accordance with the laws of the State of New York.

Notices

All notices to holders of registered debt securities
shall be validly given if in writing and mailed, first-class postage prepaid, to them at their respective addresses in the register maintained
by the trustee.

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The Trustee

The Bank of New York Mellon, acting through its
London Branch, 160 Queen Victoria Street, London EC4V 4LA, is the trustee under the indenture. The trustee shall have and be subject to
all the duties and responsibilities specified with respect to an indenture trustee under the Trust Indenture Act of 1939, as amended (the
“TIA”). Subject