Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 42

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 42
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 Articles of
Association is followed for allotting such shares.

In addition, LBG may by ordinary resolution direct
the payment of a dividend in whole or in part by the distribution of specific assets (a non-cash distribution).

On any distribution by way of capitalization,
the amount to be distributed will be appropriated amongst the holders of ordinary shares in proportion to their holdings of ordinary shares
(pro rata to the amount paid up thereon). If the amount to be distributed is applied in paying up in full unissued ordinary shares of
LBG, a shareholder will be entitled to receive bonus shares of the same class as the shares giving rise to that shareholder’s entitlement
to participate in the capitalization.

Any dividend or other moneys payable to a member
that has not been cashed or claimed after a period of 12 years from the date of declaration of such dividend or other moneys payable to
a member will be forfeited and revert to LBG. LBG shall be entitled to use such unclaimed or unclaimed dividend or other moneys payable
to a member for its benefit in any manner that the directors may think fit. LBG shall not be a trustee of dividends or other moneys payable
that have not been cashed or claimed and it shall not be liable to pay interest on such dividends or other moneys.

On a return of capital, whether in a winding-up
or otherwise, the assets of LBG available for distribution among the members will be distributed first to the holders of the preference
shares in accordance with rights attached to them on issue. The balance of any assets, subject to the rights of any other class of shares,
will then be distributed to each holder of ordinary shares rateably by reference to the proportion of ordinary share capital held by that
holder, relative to the aggregate total issued ordinary share capital.

LBG’s ordinary shares do not confer any
rights of redemption. Rights of redemption in respect of LBG’s preference shares shall be as the directors determine on allotment.

LBG may, subject to applicable law and to the
Articles of Association, issue redeemable shares and redeem the same. LBG has issued certain preference shares which are redeemable. In
general, subject to applicable law and the approval of the U.K. Prudential Regulation Authority, some of these shares are redeemable by
LBG on a specified date and in some cases, thereafter on relevant dividend payment dates. Others are redeemable at any time during a specified
period and