Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 136

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 136
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 sum sufficient to reimburse it for any related tax or
other governmental charge and any share transfer or registration fee and any applicable fees payable as provided in the deposit agreement.
The Depositary may withhold any dividends or other distributions, or may sell for the account of the holder any part or all of the ordinary
shares represented by the ADSs, and may apply those dividends or other distributions or the proceeds of any sale in payment of the tax
or other governmental charge. The ADS holder will remain liable for any deficiency.

Any ADS holder may be required from time to time
to furnish the Depositary or the Custodian with proof satisfactory to the Depositary of citizenship or residence, exchange control approval,
legal or beneficial ownership of ADSs or other securities, compliance with all applicable laws or regulations and the terms of the deposit
agreement or such information relating to the registration on our books or those that the registrar maintains for us for the ordinary
shares in registered form, or other information, to execute certificates and to make representations and warranties that the Depositary
deems necessary or proper or as we may reasonably request by written request to the Depositary. Until those requirements have been satisfied,
the Depositary may withhold the delivery or registration of transfer of any ADSs or the distribution or sale of any dividend or other
distribution or proceeds of any sale or distribution or the delivery of any deposited preference shares or other property related to the
ADSs. The delivery or registration of transfer of ADSs may be suspended during any period when the transfer books of the Depositary are
closed or if we or the Depositary deems it necessary or advisable. The surrender of outstanding ADSs and the withdrawal of ordinary shares
may only be suspended as a result of:

| · | temporary delays caused by closing the transfer books or those of the Depositary or the deposit of ordinary shares in connection with 
 voting at shareholder meetings, or the payment of dividends;                                                                          |

| · | the non-payment of fees, taxes and similar charges; and |

| · | non-compliance with any U.S. or foreign laws or governmental regulations relating to the ADSs or to the withdrawal of ordinary shares. |

<div align='center'>39

PLAN OF DISTRIBUTION</div>

We may sell relevant securities to or through
underwriters or dealers and also may sell all or part of such securities directly to other purchasers or through agents.

The distribution of the securities may be effected
from time to time in one or more transactions at a fixed price or prices, which may be changed