Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 61

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 61
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Loss Absorption Regulations” means,
at any time, the laws, regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds
and eligible liabilities and/or loss absorbing capacity instruments of the United Kingdom, the Relevant Regulator, the relevant U.K. resolution
authority and/or the Financial Stability Board then applicable in the United Kingdom including, without limitation to the generality of
the foregoing, any regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds
and eligible liabilities and/or loss absorbing capacity instruments adopted or applied by the Relevant Regulator and/or the relevant U.K.
resolution authority from time to time (whether or not such regulations, requirements, guidelines, rules, standards or policies are applied
generally or specifically to LBG or to the Group).

Conditions to redemption and purchase, etc.

Any redemption or purchase of a series of Senior
Notes (other than redemption on the relevant maturity date), and any modification to the terms of a series of Senior Notes or any indenture
relating thereto, is subject to, if and to the extent then required by the Relevant Regulator or the Loss Absorption Regulations, our
giving notice to the Relevant Regulator and the Relevant Regulator granting us permission therefor and otherwise to compliance with the
Loss Absorption Regulations if and to the extent then required thereunder.

“Relevant Regulator” means, in relation
to the Senior Notes, the relevant U.K. resolution authority or such other governmental authority in the United Kingdom (or if LBG becomes
domiciled in a jurisdiction other than the United Kingdom, in such other jurisdiction) having primary supervisory authority with respect
to LBG and/or the Group in such circumstances.

Payment of Additional Amounts

Amounts to be paid on the Senior Notes will be
made without deduction or withholding for, or on account of, any and all present and future income, stamp and other taxes, levies, imposts,
duties, charges, or fees imposed, levied, collected, withheld or assessed by or on behalf of a U.K. taxing jurisdiction, unless such deduction
or withholding is required by law. If at any time a U.K. taxing jurisdiction requires us to make such deduction or withholding, we will
pay additional amounts with respect to interest only on the Senior Notes (“Senior Notes Additional Amounts”) that are necessary
in order that the net amounts of interest paid to the holders of the Senior Notes, after the deduction or