Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 142

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 142
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 notice is so provided to DTC for onwards communication.

Notices to be given by any holder of the Additional
Tier 1 Securities to the Trustee shall be in writing to the Trustee at its corporate trust office. While any of the Additional Tier 1
Securities are represented by a Global Note, such notice may be given by any holder to the Trustee through DTC in such manner as DTC may
approve for this purpose.

If and for so long as the Additional Tier 1 Securities
are admitted to trading on the Global Exchange Market of Euronext Dublin, notices will also be given in accordance with any applicable
requirements of such stock exchange. Any such notices delivered to the Global Exchange Market of Euronext Dublin will also be published
by Euronext Dublin for so long as its rules so require.

Modification and Amendments

We and the Trustee may make certain modifications
and amendments to the Indenture with respect to the Additional Tier 1 Securities without the consent of the holders of the Additional
Tier 1 Securities, including, but not limited to, reflect changes to procedures relating to Automatic Conversion, delivery of the Settlement
Shares, ADSs or Alternative Consideration, as applicable, procuring that Newco is substituted as issuer under the Additional Tier 1 Securities
and to give effect to any variation to the terms of the Additional Tier 1 Securities as a result of any exercise of any U.K. Bail-in Power.
Other modifications and amendments may be made to the Indenture with the consent of holders of the Additional Tier 1 Securities of not
less than two-thirds in aggregate outstanding principal amount of the Additional Tier 1 Securities that are affected by the modification
or amendment, voting as one class. However, no modifications or amendments may be made without the consent of the holder of each Additional
Tier 1 Security affected that would:

| · | reduce the principal amount of, the interest rates of, or the payments with respect to the Additional Tier 1 Securities other than 
 as permitted under the Indenture;                                                                                                  |

| · | change any obligation to pay any Additional Amounts; |

| · | change the currency of payment; |

<div align='center'>S-89</div>

| · | reduce the percentage in aggregate principal amount of outstanding the Additional Tier 1 Securities necessary to modify or amend the 
 Indenture or to waive compliance with certain provisions of the Indenture;                                                           |

| · | modify the subordination and waiver of set off provisions