Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 94

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 94
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.413% preference shares (ISIN USG5533WAA56/US539439AC38), the 6.657% preference
shares (ISIN US539439AE93/US539439AF68) and the 9.75% preference shares (ISIN GB00B3KSB238), each issued by LBG.

“Parity Securities” means (i)
the most senior ranking class or classes of preference shares in the capital of LBG from time to time and any other securities of LBG
ranking, or expressed to rank, pari passu with the Additional Tier 1 Securities and/or such preference shares following a Winding-up
or Administration Event occurring prior to a Trigger Event and/or (ii) any securities issued by any other member of the Group where the
terms of the securities benefit from a guarantee or support agreement entered into by LBG which ranks or is expressed to rank pari passu with the Additional Tier 1 Securities and/or such preference shares following a Winding-up or Administration Event occurring
prior to a Trigger Event, excluding (in the case of (i) and (ii)) any security the holders of which are Senior Creditors by virtue of
(b) of the definition of Senior Creditors.

“Senior Creditors” means: (a)
creditors of LBG (i) who are unsubordinated creditors, (ii) whose claims are, or are expressed to be, subordinated to the claims of unsubordinated
creditors of LBG but not further or otherwise, or (iii) whose claims are, or are expressed to be, junior to the claims of other creditors
of LBG (whether subordinated or unsubordinated, other than those whose claims rank, or are expressed to rank, pari passu with,
or junior to, the claims of holders or beneficial owners of the Additional Tier 1 Securities) in a Winding-up or Administration Event
occurring prior to a Trigger Event; and (b) if LBG determines that the Additional Tier 1 Securities would not be included in the Additional
Tier 1 Capital of the Group at the time of determination (including as a result of an election by LBG, in its sole discretion (but subject
to the permission of the Relevant Regulator to the extent then required under Applicable Regulations), to change the regulatory classification
of any of the securities referred to in (i) or (ii) below) unless the holders of some or all of the following securities were Senior Creditors
at