Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 144

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 144
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 and procedures of
the relevant Clearing System. Neither we nor the Trustee nor any of our agents will have any responsibility or liability for any aspect
of the records of any securities intermediary in the chain of intermediaries between the Clearing Systems and any beneficial owner of
an interest in Additional Tier 1 Securities, or the failure of the Clearing Systems or any intermediary to pass through to any beneficial
owner any payments that are made to the Clearing Systems.

Euroclear and Clearstream, Luxembourg

Euroclear has advised us as follows: Euroclear
holds securities for its participants and clears and settles transactions between its participants through simultaneous electronic book-entry
delivery against payment. Euroclear provides various other services, including safekeeping, administration, clearance and settlement and
securities lending and borrowing, and interfaces with domestic markets in several countries. Euroclear is operated by Euroclear Bank,
under contract with Euroclear plc, a U.K. corporation. Euroclear Bank conducts all operations, and all Euroclear securities clearance
accounts and Euroclear cash accounts are accounts with Euroclear Bank, not Euroclear plc. Euroclear plc establishes policy for Euroclear
on behalf of Euroclear participants. Euroclear participants include banks (including central banks), securities brokers and dealers and
other professional financial intermediaries and may include any underwriters for the debt securities or capital securities, as applicable.
Indirect access to Euroclear is also available to other firms that clear through or maintain a custodial relationship with a Euroclear
participant, either directly or indirectly. Securities clearance accounts and cash accounts with Euroclear are governed by the Terms and
Conditions Governing Use of Euroclear and the related Operating Procedures of the Euroclear System (collectively, the “Euroclear
Terms and Conditions”), and applicable law. The Euroclear Terms and Conditions govern transfers of securities and cash within Euroclear,
withdrawals of securities and cash from Euroclear, and receipts of payments with respect to securities in Euroclear.

<div align='center'>S-93</div>

Clearstream, Luxembourg has advised us as follows:
Clearstream, Luxembourg is incorporated under the laws of The Grand Duchy of Luxembourg as a société anonyme and is subject
to regulation by the Luxembourg Commission for the Supervision of the Financial Sector (Commission de Surveillance du Secteur Financier).
Clearstream, Luxembourg is owned by Deutsche Börse AG, a publicly traded company. Clearstream, Luxembourg holds securities for its
participants and facilitates the clearance and settlement of securities transactions between its participants through electronic book