Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 47

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 47
---
 their disposal or waive
payment in whole or part.

LBG has a first and paramount lien on every share
(not being a fully paid share) for all monies (whether presently payable or not) called or payable at a fixed time in respect of such
share, and the directors may waive any lien which has arisen and may resolve that any share shall for some limited period be exempt from
such a lien, either wholly or partially.

A forfeited share becomes the property of LBG,
and it may be sold, re-allotted, otherwise disposed of or cancelled as the directors see fit. Any share on which LBG has a lien may be
sold on the terms set out in the Articles of Association. The proceeds of sale shall first be applied towards payment of the amount in
respect of the lien insofar as it is still payable and then on surrender of the share certificate for cancellation (in the case of shares
in certificated form), to the person entitled to the shares at the time of sale.

Winding-up

The directors have the power, in the name and
on behalf of LBG, to present a petition to the court for LBG to be wound up.

Any winding up of LBG shall be undertaken in accordance
with relevant insolvency legislation, regulation, rules or otherwise required by law.

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DESCRIPTION OF
AMERICAN DEPOSITARY SHARES</div>

The following is a summary of the general terms and provisions of the deposit agreement under which the Depositary will deliver the American Depositary Shares (“ADSs”). The deposit agreement is among us, The Bank of New York Mellon, as Depositary, and all registered holders and beneficial owners from time to time of ADSs issued under it. This summary does not purport to be complete. You should read the deposit agreement, which we have filed with the SEC as an exhibit to the registration statement of which this prospectus is a part. You may also read the deposit agreement at the depositary offices of The Bank of New York Mellon in The City of New York and the offices of the Custodian in London. The principal executive office of the Depositary and its depositary office is currently located at 240 Greenwich Street, New York, NY 10286.

American Depositary Shares

The Bank of New York Mellon, as Depositary, will
register and deliver ADSs pursuant to the deposit agreement. Each ADS will represent four ordinary shares, or evidence of the right to
receive four ordinary shares, deposited with