Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 153

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 153
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 aspects of acquiring, holding or disposing of Additional Tier 1 Securities. The comments relate only to the position of persons who are absolute beneficial owners of the Additional Tier 1 Securities. The following is a general guide for information purposes and should be treated with appropriate caution. It is not intended as tax advice and it does not purport to describe all of the tax considerations that may be relevant to a prospective purchaser. Holders of the Additional Tier 1 Securities who are in any doubt as to their tax position should consult their professional advisers. Holders of the Additional Tier 1 Securities who may be liable to taxation in jurisdictions other than the United Kingdom in respect of their acquisition, holding or disposal of the Additional Tier 1 Securities are particularly advised to consult their professional advisers as to whether they are so liable (and if so under the laws of which jurisdictions), since the following comments relate only to certain United Kingdom taxation aspects of payments in respect of the Additional Tier 1 Securities. In particular, Holders of the Additional Tier 1 Securities should be aware that they may be liable to taxation under the laws of other jurisdictions in relation to payments in respect of the Additional Tier 1 Securities even if such payments may be made without withholding or deduction for or on account of taxation under the laws of the United Kingdom.

Withholding

The Additional Tier 1 Securities which carry a right to interest will constitute “quoted Eurobonds” provided they are and continue to be listed on a recognized stock exchange (within the meaning of section 1005 of the Income Tax Act 2007 for the purposes of section 987 of the Income Tax Act 2007) or admitted to trading on a multilateral trading facility operated by a regulated recognized stock exchange (within the meaning of section 987 of the Income Tax Act 2007). While the Additional Tier 1 Securities are and continue to be quoted Eurobonds, payments of interest by LBG may be made without withholding or deduction for or on account of United Kingdom income tax. The Irish Stock Exchange (Euronext Dublin) is a recognized stock exchange. LBG's understanding of current HMRC practice is that securities which are officially listed and admitted to trading on the Global Exchange Market of that Exchange may be regarded as “listed on a recognized stock exchange” for these purposes.

If the Additional Tier 1 Securities cease to be quoted Eurobonds, interest which has a United Kingdom source will generally be paid by LBG under deduction of income tax at the basic rate (currently 20 per cent) unless: (