Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 88

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 88
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 of any U.K. bail-in power by the
relevant U.K. resolution authority.

Additional Amounts

Unless the relevant prospectus supplement provides
otherwise, amounts to be paid on any series of debt securities will be made without deduction or withholding for, or on account of, any
and all present and future income, stamp and other taxes, levies, imposts, duties, charges or fees imposed, levied, collected, withheld
or assessed by or on behalf of the United Kingdom or any political subdivision thereof or authority thereof that has the power to tax
(a “U.K. taxing jurisdiction”), unless such deduction or withholding is required by law. If at any time a U.K. taxing jurisdiction
requires us to make such deduction or withholding, we will pay additional amounts with respect to the interest only on the debt securities
(“Additional Amounts”) that are necessary in order that the net amounts of interest paid to the holders of those debt securities,
after the deduction or withholding, shall equal the amounts of interest only which would have been payable on that series of debt securities
if the deduction or withholding had not been required. However, this will not apply to any such tax, levy, impost, duty, charge or fee
which would not have been deducted or withheld but for the fact that:

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| · | the holder or the beneficial owner of the debt securities is a domiciliary, national or resident of, or engaging in business or maintaining 
 a permanent establishment or physically present in, a U.K. taxing jurisdiction or otherwise having some connection with the U.K. taxing     
 jurisdiction other than the holding or ownership of a debt security, or the collection of any payment of, or in respect of, principal       
 of, or any interest or other payment on, any debt security of the relevant series;                                                          |

| · | except in the case of a winding-up in the United Kingdom, the relevant debt security is presented (where presentation is required) 
 for payment in the United Kingdom;                                                                                                 |

| · | the relevant debt security is presented (where presentation is required) for payment more than 30 days after the date payment became    
 due or was provided for, whichever is later, except to the extent that the holder would have been entitled to the Additional Amounts on 
 presenting the debt security for payment at the close of that 30 day period;                                                            |

| · | the holder or the beneficial owner of the relevant debt security or the beneficial owner of any payment of