Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 143

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 143
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 profits, so far as not previously
utilized by distribution or capitalization, less accumulated, realized losses, so far as not previously written off in a reduction or
reorganization of capital duly made). Under the Articles of Association (and subject to statute) the directors are entitled to set aside
out of the profits of LBG any sums as they think proper which, at their discretion, shall be applicable for any purpose to which the profits
of LBG may be applied.

The shareholders in general meeting may by ordinary
resolution declare dividends to be paid to members of LBG, but no dividends shall be declared in excess of the amount recommended by the
directors. The directors may pay fixed dividends on any class of shares carrying a fixed dividend and may also from time to time pay dividends,
interim or otherwise, on shares of any class as they think fit. Except in so far as the rights attaching to any shares otherwise provide,
all dividends shall be apportioned and paid pro rata according to the amounts paid up thereon. Subject to the rights attaching to any
shares, any dividend or other monies payable in respect of a share may be paid in such currency or currencies as the directors may determine
using such exchange rates as the directors may select.

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The opportunity to elect to receive new shares
instead of any cash dividend recommended by the directors may be offered to shareholders provided that the directors shall have obtained
in advance the shareholders’ approval to do so as required by the Articles of Association and the procedure under the Articles of
Association is followed for allotting such shares.

In addition, LBG may by ordinary resolution direct
the payment of a dividend in whole or in part by the distribution of specific assets (a non-cash distribution).

On any distribution by way of capitalization,
the amount to be distributed will be appropriated amongst the holders of ordinary shares in proportion to their holdings of ordinary shares
(pro rata to the amount paid up thereon). If the amount to be distributed is applied in paying up in full unissued ordinary shares of
LBG, a shareholder will be entitled to receive bonus shares of the same class as the shares giving rise to that shareholder’s entitlement
to participate in the capitalization.

Any dividend or other moneys payable to a member
that has not been cashed or claimed after a period of 12 years from the date of declaration of such dividend or other moneys payable to
a member will be forfeited and revert to