Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 116

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 116
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 Ordinary Shares to be issued or otherwise made available upon the conversion               
 or exchange of any Securities shall be deemed to be the consideration or price received or receivable for any such Securities and (y)              
 the aggregate consideration receivable or price for Ordinary Shares to be issued or otherwise made available upon the exercise of rights           
 of subscription attached to any Securities or upon the exercise of any options, warrants or rights shall be deemed to be that part (which          
 may be the whole) of the consideration or price received or receivable for such Securities or, as the case may be, for such options, warrants      
 or rights which are attributed by LBG to such rights of subscription or, as the case may be, such options, warrants or rights or, if no            
 part of such consideration or price is so attributed, the Fair Market Value of such rights of subscription or, as the case may be, such            
 options, warrants or rights as at the relevant Effective Date, plus in the case of each of (x) and (y) above, the additional minimum consideration 
 receivable or price (if any) upon the conversion or exchange of such Securities, or upon the exercise of such rights or subscription attached      
 thereto or, as the case may be, upon exercise of such options, warrants or rights and (z) the consideration receivable or price per Ordinary       
 Share upon the conversion or exchange of, or upon the exercise of such rights of subscription attached to, such Securities or, as the              
 case may be, upon the exercise of such options, warrants or rights shall be the aggregate consideration or price referred to in (x) or             
 (y) above (as the case may be) divided by the number of Ordinary Shares to be issued upon such conversion or exchange or exercise at the           
 initial conversion, exchange or subscription price or rate;                                                                                        |

| (iii) | if the consideration or price determined pursuant to (i) or (ii) above (or any component thereof) shall be expressed in a currency       
 other than the Relevant Currency, it shall be converted into the Relevant Currency at the Prevailing Rate on the relevant Effective Date 
 (in the case of (i) above) or the relevant date of first public announcement (in the case of (ii) above);                                |

| (iv) | in determining the consideration or price pursuant to the above, no deduction shall be made for any commissions or fees (howsoever      
 described) or any expenses paid or incurred for any underwriting, placing or management of the issue