Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 110

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 110
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 Except as described below under the heading “—Issuance of Definitive Securities”, no participant,
indirect participant or other person will be entitled to have debt securities or capital securities, as applicable, registered in its
name, receive or be entitled to receive physical delivery of debt securities or capital securities, as applicable, in definitive form
or be considered the owner or holder of the debt securities or capital securities, as applicable, under the indentures. Each person having
an ownership or other interest in debt securities or capital securities, as applicable, must rely on the procedures of the depositary,
and, if a person is not a participant in the depositary, must rely on the procedures of the participant or other securities intermediary
through which that person owns its interest to exercise any rights and obligations of a holder under the indentures, the debt securities
or capital securities, as applicable.

Payments on Global Securities

Payments of any amounts in respect of any global
securities will be made by the trustee to the depositary. Payments will be made to beneficial owners of debt securities or capital securities,
as applicable, in accordance with the rules and procedures of the depositary or its direct and indirect participants, as applicable. We,
the trustee and any of our and their agents will not have any responsibility or liability for any aspect of the records of any securities
intermediary in the chain of intermediaries between the depositary and any beneficial owner of an interest in a global security, or the
failure of the depositary or any intermediary to pass through to any beneficial owner any payments that we make to the depositary.

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The Clearing Systems

DTC, Euroclear and Clearstream Luxembourg have
advised us as follows:

DTC. DTC, the world’s largest securities
depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the
meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of
the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”). DTC holds and provides asset servicing for over 3.5 million
issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries)