Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 24

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 24
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, the beneficial owner, settlor or beneficiary (as the case may be) received directly its beneficial  
 or distributive share of the payment;                                                                                                           |

| · | presented or surrendered for payment more than 30 days after the date payment became due or was provided for, except to the extent    
 that the Holder thereof would have been entitled to such Additional Amounts on presenting or surrendering the same for payment at the 
 expiry of such period of 30 days; or                                                                                                  |

| · | any combination of the above. |

Whenever this prospectus or the relevant prospectus
supplement mentions, in any context, the payment of interest on, or in respect of, any capital security of any series such mention shall
be deemed to include mention of the payment of Additional Amounts provided for in this “Additional Amounts” section to the
extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this section
and as if express mention of the payment of Additional Amounts (if applicable) were made in any provisions hereof where such express mention
is not made.

Redemption

Any terms of the redemption of any series of capital
securities, whether at our option or upon the occurrence of certain events (including, but not be limited to, the occurrence of certain
tax or regulatory events), will be set forth in the relevant prospectus supplement.

Modification and Waiver

We and the trustee may make certain
modifications and amendments to the applicable indenture with respect to any series of capital securities without the consent of the
holders of such capital securities. Other modifications and amendments may be made to the applicable indenture with the consent of
not less than 2/3 (two thirds) in aggregate outstanding principal amount of the capital securities of the series outstanding under
the indenture that are affected by the modification or amendment, voting as one class. However, no
modifications or amendments may be made without the consent of the holder of each capital security affected that would:

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| · | change the stated maturity, if any, of any principal amount or any interest amounts of any capital security; |

| · | change the terms of any capital security to include a stated maturity date; |

| · | reduce the principal amount of, the interest rates of, any premium payable upon the redemption of or the amount of principal of an      
 original issue discount security that would be due and payable upon an acceleration