Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 100

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 100
---
 or otherwise ceases to
have effect.

(6) The reference in subsection (3)(b)(iii) to
an application for relief is to an application for relief under section 661(3) or (4) (power of court to grant relief in case of acquisition
of shares by innocent nominee), or section 1157 (general power of court to grant relief in case of honest and reasonable conduct).

<div align='center'>II-3</div>

Section 1157 of the Companies Act 2006 provides:

(1) If in proceedings for negligence, default,
breach of duty or breach of trust against:

(a) an officer of a company, or

(b) a person employed by a company as auditor
(whether he is or is not an officer of the company), it appears to the court hearing the case that the officer or person is or may be
liable but that he acted honestly and reasonably, and that having regard to all the circumstances of the case (including those connected
with his appointment) he ought fairly to be excused, the court may relieve him, either wholly or in part, from his liability on such terms
as it thinks fit.

(2) If any such officer or person has reason to
apprehend that a claim will or might be made against him in respect of negligence, default, breach of duty or breach of trust:

(a) he may apply to the court for relief, and

(b) the court has the same power to relieve him
as it would have had if it had been a court before which proceedings against him for negligence, default, breach of duty or breach of
trust had been brought.

(3) Where a case to which subsection (1) applies
is being tried by a judge with a jury, the judge, after hearing the evidence, may, if he is satisfied that the defendant (in Scotland,
the defender) ought in pursuance of that subsection to be relieved either in whole or in part from the liability sought to be enforced
against him, withdraw the case from the jury and forthwith direct judgment to be entered for the defendant (in Scotland, grant decree
of absolvitor) on such terms as to costs (in Scotland, expenses) or otherwise as the judge may think proper.

Any underwriters of securities registered on this
registration statement will each agree, severally, and not jointly, to indemnify the company’s directors, the company’s officers
who sign the registration statement and the company’s