Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 56

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 56
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 relating to DRS/Profile, the parties to the deposit agreement understand that the Depositary will not verify,
determine or otherwise ascertain that the DTC participant which is claiming to be acting on behalf of an ADS registered holder in requesting
registration of transfer and delivery described in the paragraph above has the actual authority to act on behalf of the ADS registered
holder (notwithstanding any requirements under the Uniform Commercial Code). In the deposit agreement, the parties agree that the Depositary’s
reliance on and compliance with instructions received by the Depositary through the DRS/Profile System and in accordance with the deposit
agreement, shall not constitute negligence or bad faith on the part of the Depositary.

General

Neither the Depositary nor we nor any of the Depositary’s
or our respective directors, employees, agents or affiliates will be liable to ADS holders if prevented or forbidden or delayed by any
present or future law of any country or by any governmental or regulatory authority or stock exchange, any present or future provision
of the Articles of Association, any provision of any securities issued or distributed by us, or any act of God or war or terrorism or
other circumstances beyond our or its control in performing our or its obligations under the deposit agreement. The obligations of each
of us and the Depositary under the deposit agreement are expressly limited to performing our and its specified duties without negligence
or bad faith.

The ADSs are transferable on the books of the
Depositary or its agent. However, the Depositary may close the transfer books as to ADSs at any time when it deems it expedient to do
so in connection with the performance of its duties or at our request. As a condition precedent to the execution and delivery, registration
of transfer, split-up, combination or surrender of any ADSs or withdrawal of any ordinary shares, the Depositary or the Custodian may
require the person presenting the ADSs or depositing the ordinary shares to pay a sum sufficient to reimburse it for any related tax or
other governmental charge and any share transfer or registration fee and any applicable fees payable as provided in the deposit agreement.
The Depositary may withhold any dividends or other distributions, or may sell for the account of the holder any part or all of the ordinary
shares represented by the ADSs, and may apply those dividends or other distributions or the proceeds of any sale in payment of the tax
or other governmental charge. The ADS holder will remain liable for any deficiency.

Any ADS holder may be required from time