Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 73

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 73
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 modification or variation of the terms of the Subordinated Notes); and/or (iii) the amendment or alteration of the maturity
of the Subordinated Notes, or amendment of the amount of interest due on the Subordinated Notes, or the dates on which interest becomes
payable, including by suspending payment for a temporary period; any U.K. bail-in power may be exercised by means of variation of the
terms of the Subordinated Notes solely to give effect to the exercise by the relevant U.K. resolution authority of such U.K. bail-in power.
With respect to (i), (ii) and (iii) above, references to principal and interest shall include payments of principal and interest that
have become due and payable (including principal that has become due and payable at the relevant maturity date), but which have not been
paid, prior to the exercise of any U.K. bail-in power. Each holder and each beneficial owner of the Subordinated Notes further
acknowledges and agrees that the rights of the holders and/or beneficial owners under the Subordinated Notes are subject to, and will
be varied, if necessary, solely to give effect to, the exercise of any U.K. bail-in power by the relevant U.K. resolution authority. For
these purposes, a “U.K. bail-in power” is any write-down, conversion, transfer, modification, moratorium and/or suspension
power existing from time to time under any laws, regulations, rules or requirements relating to the resolution of financial holding companies,
mixed financial holding companies, banks, banking group companies, credit institutions and/or investment firms incorporated in the United
Kingdom in effect and applicable in the United Kingdom to LBG or other members of the Group, including but not limited to any such laws,
regulations, rules or requirements which are implemented, adopted or enacted in the United Kingdom within the context of the U.K. resolution
regime under the Banking Act 2009 as the same has been or may be amended from time to time (whether pursuant to the U.K. Financial Services
(Banking Reform) Act 2013, secondary legislation or otherwise) (the “Banking Act”), pursuant to which obligations of a bank,
banking group company, credit institution or investment firm or any of its affiliates can be reduced, canceled, modified, transferred
and/or converted into shares or other securities or obligations of the obligor or any other person (or suspended for a temporary period)
or pursuant to which any right in a contract governing such obligations