Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 98

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 98
---
 an "accredited investor" as described in paragraph (m) of the definition of "accredited investor"
in section 1.1 of NI 45-106;

<div align='center'>S-67</div>

(b) it
is either (i) appropriately registered under applicable Canadian securities laws in each relevant province or territory to sell and deliver
the Notes, (ii) such sale and delivery will be made through an affiliate of it that is so registered if the affiliate is registered in
a category that permits such sale and has agreed to make such sale and delivery in compliance with the representations, warranties and
agreements set out herein, or (iii) it is relying on an exemption from the dealer registration requirements under applicable Canadian
securities laws and has complied with the requirements of that exemption; and

(c) it
has not and will not distribute or deliver any offering memorandum, or any other offering material in connection with any offering of
the Notes, in or to a resident of Canada, other than delivery of this prospectus supplement, and otherwise in compliance with applicable
Canadian securities laws.

United Kingdom

General restrictions

Each Underwriter has represented and agreed that:

(i) it
has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to
engage in investment activity (within the meaning of section 21 of the FSMA) received by it in connection with the issue or sale of any
Notes in circumstances in which section 21(1) of the FSMA does not apply to LBG; and

(ii) it
has complied and will comply with all the applicable provisions of the FSMA with respect to anything done by it in relation to any Notes
in, from or otherwise involving the United Kingdom.

Prohibition of sales to U.K. retail investors

Each Underwriter has represented and agreed that
it has not offered, sold or otherwise made available and will not offer, sell or otherwise make available any Notes to any retail investor
in the United Kingdom. For the purposes of this provision, the expression “retail investor” means a person who is one
(or more) of the following:

(i) a retail client, as defined in point (8) of
Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law of the United Kingdom by virtue of the EUWA; or

(ii) a
customer within the meaning of the provisions of the FSMA and any rules or