Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 63

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 63
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 jurisdiction implementing, or relating to, FATCA or any intergovernmental agreement; or

·any
combination of the above items,

nor shall Senior Notes Additional Amounts be paid with respect to any
interest only on the Senior Notes to any holder who is a fiduciary or partnership or any person other than the sole beneficial owner of
such payment to the extent such payment would be required by the laws of any taxing jurisdiction to be included in the income for tax
purposes of a beneficiary or partner or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who
would not have been entitled to such Senior Notes Additional Amounts, had it been the holder.

Whenever we refer in this prospectus supplement,
in any context, to the payment of interest on, or in respect of, any Senior Note, we mean to include the payment of Senior Notes Additional
Amounts to the extent that, in the context, Senior Notes Additional Amounts are, were or would be payable.

Waiver of Right to Set-Off

Subject to applicable law, no holder may exercise
or claim any right of set-off, counterclaim, combination of accounts, compensation or retention in respect of any amount owed to it by
LBG arising under or in connection with the Senior Notes. By accepting a Senior Note, each holder will be deemed to have waived any right
of set-off, counterclaim, combination of accounts, compensation or retention with respect to such Senior Note or the Senior Indenture
(or between our obligations under or in respect of any Senior Note and any liability owed by a holder or the Trustee to us) that they
might otherwise have against us, whether before or during our winding up. Notwithstanding the provisions of the foregoing sentence, if
any of the said rights and claims of any holder of any Senior Note against LBG is discharged by set-off, counterclaim, combination of
accounts, compensation or retention, such holder will immediately pay an amount equal to the amount of such discharge to LBG (or, in the
event of winding-up or administration of LBG, the liquidator or, as applicable, the administrator of LBG) and accordingly such discharge
will be deemed not to have taken place.

Trustee; Direction of Trustee

LBG’s obligations to indemnify the Trustee
in accordance with Section 6.07 of the Senior Base Indenture (as supplemented by the Twenty-First Senior Supplemental Indenture) shall
sur