Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 16

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 16
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-down or converted
to ordinary shares, and investment products that invest mainly in, or whose returns are closely linked to the performance of such instruments,
are to be targeted in Hong Kong at professional investors (as defined in the Securities and Futures Ordinance (Cap. 571) of Hong Kong
(the “SFO”) and any subsidiary legislations or rules made under the SFO, “Professional Investors”)
only and are generally not suitable for retail investors in either the primary or secondary markets.

Potential investors should inform themselves of,
and comply with, any applicable laws, regulations or regulatory guidance with respect to any resale of the Additional Tier 1 Securities
(or any beneficial interests therein), including the HKMA Circular.

Investors in Hong Kong should not purchase the
Additional Tier 1 Securities in the primary or secondary markets unless they are Professional Investors and understand the risks involved.
The Additional Tier 1 Securities are generally not suitable for retail investors.

Certain or all of the underwriters are required
to comply with the HKMA Circular.

<div align='center'>S-6</div>

By purchasing, or making or accepting an offer
to purchase, any Additional Tier 1 Securities (or a beneficial interest in such Additional Tier 1 Securities) from LBG and/or the underwriters
each prospective investor represents, warrants, agrees with and undertakes to LBG and each of the underwriters that (i) it is not a retail
client in the U.K.; (ii) if it is in Hong Kong, it is a Professional Investor; (iii) whether or not it is subject to the HKMA Circular,
it will not sell or offer the Additional Tier 1 Securities (or any beneficial interest therein) to retail investors in Hong Kong; or (iv)
it will not communicate (including the distribution of this prospectus supplement) or approve an invitation or inducement to participate
in, acquire or underwrite the Additional Tier 1 Securities (or any beneficial interests therein) where that invitation or inducement is
addressed to or disseminated in such a way that it is likely to be received by any customer in Hong Kong who is not a Professional Investor.

The obligations in the paragraphs above are in
addition to the need to comply at all times with all other applicable laws, regulations and regulatory guidance (whether inside or outside
the EEA, the U.K. or Hong Kong) relating to the promotion, offering, distribution and/or sale of the Additional Tier 1 Securities (or
any beneficial interests therein