Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 47

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 47
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ations, decisions or elections made by LBG (or its designee) with respect to any waivers or consequential amendments
to be effected pursuant to this section “— SOFR Discontinuation” or any other changes and shall be entitled to
rely conclusively on any certifications provided to each of them in this regard.

No consent of the holders of the Senior Floating
Rate Notes shall be required in connection with effecting the relevant SOFR Benchmark Replacement as described in this section or such
other relevant adjustments pursuant to this section, including for the execution of, or amendment to, any documents or the taking of other
steps by LBG (or its designee) or any of the parties to the Indenture or Calculation Agent Agreement (if required).

By its acquisition of the Senior Floating Rate
Notes, each holder and beneficial owner of the Senior Floating Rate Notes and each subsequent holder and beneficial owner acknowledges,
accepts, agrees to be bound by, and consents to, LBG’s (or its designee’s) determination of the SOFR Benchmark Replacement,
as contemplated by this section “— SOFR Discontinuation”, and to any amendment or alteration of the terms and
conditions of the Senior Floating Rate Notes, including an amendment of the amount of interest due on the Senior Floating Rate Notes,
as may be required in order to give effect to this section “— SOFR Discontinuation”, without the need for any
further consent from the holders of the Senior Floating Rate Notes. The Trustee shall be entitled to rely on this deemed consent in connection
with any supplemental indenture or amendment which may be necessary to give effect to the SOFR Benchmark Replacement or any application
of this section “— SOFR Discontinuation”.

By its acquisition of the Senior Floating Rate
Notes, each holder and beneficial owner of the Senior Floating Rate Notes and each subsequent holder and beneficial owner waives any and
all claims in law and/or equity against the Trustee, the Calculation Agent and any paying agent for, agrees not to initiate a suit against
the Trustee, the Calculation Agent and any paying agent in respect of, and agrees that neither the Trustee, the Calculation Agent nor
any paying agent will be liable for, any action that the Trustee, the Calculation Agent or any paying agent, as the case may be, takes,
or abstains from taking, in each case in accordance with this section “— SOFR Discontinuation” or any losses
suffered in connection therewith.

Notwithstanding any