Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 45

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 45
---
 Holdings Exceeding Certain Percentages

In broad terms, the Disclosure and Transparency
Rules of the U.K. Financial Conduct Authority require LBG shareholders to notify LBG if the voting rights held by such LBG shareholders
(including by way of a certain financial instrument) reaches, exceeds or falls below three per cent, four per cent, five per cent, six
per cent, seven per cent, eight per cent, nine per cent, ten per cent and each one per cent threshold thereafter up to 100%. Under the
Disclosure and Transparency Rules, certain voting rights in LBG may be disregarded.

Pursuant to the Companies Act 2006, LBG may also
send a notice to any person whom LBG knows is, or has reasonable cause to believe that such person is, interested in LBG’s shares
or at any time during the three years immediately preceding the date on which such notice is issued to have been so interested, requiring
that person to confirm whether they have or had such an interest and if so provide details of that interest as required by the notice.

Under the Articles of Association and U.K. law,
if a person fails to comply with such a notice or provides information that is false in a material particular in respect of any shares
(the default shares), the LBG directors may serve a restriction notice on such a person. Such a restriction notice will state that the
default shares and, if the LBG directors determine, any other shares held by that person, shall not confer any right to attend or vote
at any general meeting of LBG.

In respect of a person with a 0.25% or more interest
in the issued shares of the class in question, the LBG directors may direct by notice to such member that, subject to certain exceptions,
no transfers of shares held by such person shall be registered and/or that any dividends or other payments on the default shares shall
be retained by LBG pending receipt by LBG of the information requested by the LBG
directors. Certain consequences of the issue of a restriction notice are outlined above.

<div align='center'>32</div>

Mandatory Takeover Bids, Squeeze-Out and Sell-out Rules

Other than as provided by the Companies Act 2006
and the City Code on Takeovers and Mergers, there are no rules or provisions relating to mandatory bids and/or squeeze-out and sell-out
rules in relation to the ordinary shares.

Untraced Members

LBG is entitled to sell