Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 30

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 30
---
1, 2018.

At December 31, 2024, LBG’s CET1 Ratio giving
full effect to U.K. CRR on a fully loaded basis was 14.2 % (without applying the transitional provisions set out in Part Ten of U.K. CRR,
which as at that date meant, excluding the IFRS 9 phase-in arrangements). For further information, see LBG’s Annual Report on Form
20-F filed with the SEC on February 20, 2025.

<div align='center'>S-30</div>

For the purposes of the Additional Tier 1 Securities,
LBG shall calculate its CET1 Capital and Risk Weighted Assets without applying the transitional provisions set out in Part Ten of U.K.
CRR (as may be amended from time to time) in accordance with the Applicable Regulations as at the time such measure is determined. This
is referred to as a "fully loaded" basis, which, should any such transitional provisions apply in the future under the Applicable
Regulations, would be a more stringent basis than that permitted under the U.K. CRR regime as applicable to LBG and would lead to a CET1
Ratio as defined for the purposes of the Additional Tier 1 Securities being lower than it would be were LBG to calculate the same applying
such transitional provisions.

The calculation of the CET1 Ratio may be impacted
as a result of further changes to the U.K. CRR, replacement thereof by PRA rules, or changes to the PRA rules or the way in which the
PRA applies these requirements to U.K. banks.

If the PRA rules, guidance or expectations in
relation to capital or leverage were to be amended in the future in a manner other than as set out in its current statements of policy,
it could be materially more difficult for the Group to maintain compliance with prudential requirements. Any such changes, either individually
and/or in aggregate, may lead to further unexpected enhanced requirements in relation to the Group’s capital and may result in a
need for further management actions to meet the changed requirements, such as: increasing capital, reducing leverage and risk weighted
assets, modifying legal entity structure (including with regard to issuance and deployment of capital and funding for the Group) and changing
the Group’s business mix or exiting other businesses and/or undertaking other actions to strengthen the Group’s capital position.

Investors should be aware that the Applicable
Regulations, as well as any changes in applicable