Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 72

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 72
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 therefore settle in same-day funds.

All payments in respect of the Subordinated Notes
by us or our paying agent will be made subject to any deduction or withholding that may be imposed or levied by any jurisdiction. Except
as provided under “—Payment of Additional Amounts”, no additional amounts will be paid on the Subordinated Notes
with respect to any such amounts withheld. For the avoidance of doubt, notwithstanding anything to the contrary herein, if
by reason of any agreement with the U.S. Internal Revenue Service in connection with Sections 1471-1474 of the U.S. Internal Revenue Code
and the U.S. Treasury regulations thereunder (“FATCA”), any intergovernmental agreement between the United States and the
United Kingdom or any other jurisdiction with respect to FATCA, or any law, regulation or other official guidance enacted or issued in
any jurisdiction implementing, or relating to, FATCA or any intergovernmental agreement, any of us, the Trustee, our paying agent or another
withholding agent deducts and withholds from any amount payable on, or in respect of, the Subordinated Notes, the amounts so deducted
or withheld shall be treated as having been paid to the holder of the Subordinated Notes, and no additional amounts will be paid on account
of any such deduction or withholding. Neither we, the Trustee nor our paying agent shall have any liability in connection with our compliance
with any such withholding obligation under applicable law.

<div align='center'>S-53</div>

Agreement with Respect to the Exercise of U.K. Bail-in Power

Notwithstanding any other agreements, arrangements,
or understandings between us and any holder or beneficial owner of the Subordinated Notes, by purchasing or acquiring the Subordinated
Notes, each holder (including each beneficial owner) of the Subordinated Notes acknowledges, accepts, agrees to be bound by
and consents to the exercise of any U.K. bail-in power (as defined below) by the relevant U.K. resolution authority that may result in
(i) the reduction or cancellation of all, or a portion, of the principal amount of, or interest on, the Subordinated Notes; (ii) the conversion
of all, or a portion, of the principal amount of, or interest on, the Subordinated Notes into shares or other securities or other obligations
of LBG or another person (and the issue to or conferral on the holder of such shares, securities or obligations, including by means of
amendment,