Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 55

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 55
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 any of the Senior Notes remain outstanding (for example, if the exercise of the U.K. bail-in power results
in only a partial write-down of the principal of such Senior Notes), then the Trustee’s duties under the Senior Indenture shall
remain applicable with respect to such Senior Notes following such completion to the extent that LBG and the Trustee agree pursuant to
a supplemental indenture or an amendment to the Senior Indenture, unless LBG and the Trustee agree in writing that a supplemental indenture
is not necessary.

<div align='center'>S-44</div>

By purchasing or acquiring the Senior Notes, each
holder and each beneficial owner shall be deemed to have (i) consented to the exercise of any U.K. bail-in power as it may be imposed
without any prior notice by the relevant U.K. resolution authority of its decision to exercise such power with respect to the Senior Notes
and (ii) authorized, directed and requested DTC and any direct participant in DTC or other intermediary through which it holds such Senior
Notes to take any and all necessary action, if required, to implement the exercise of any U.K. bail-in power with respect to the Senior
Notes as it may be imposed, without any further action or direction on the part of such holder or beneficial owner or the Trustee.

Upon the exercise of the U.K. bail-in power by
the relevant U.K. resolution authority with respect to the Senior Notes, we shall provide a written notice to DTC as soon as practicable
regarding such exercise of the U.K. bail-in power for purposes of notifying holders and beneficial owners of such occurrence. We shall
also deliver a copy of such notice to the Trustee for information purposes. Any delay or failure by us in delivering the notices referred
to in this paragraph shall not affect the validity and enforceability of the U.K. bail-in power.

For a discussion of certain risk factors relating
to the U.K. bail-in power, see “Risk Factors—Risks relating to the Notes”.

Events of Default; Default; Limitation of Remedies

Senior Notes Events of Default

A “Senior Notes Event of Default”
with respect to a series of Senior Notes shall result if:

| · | a court of competent jurisdiction makes an order which is not successfully appealed within 30 days; or |

| · | an effective shareholders’ resolution is validly adopted, |

for the winding-up of LBG, other than under or in connection