Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 99

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 99
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 involving the United Kingdom.

Prohibition of sales to U.K. retail investors

Each Underwriter has represented and agreed that
it has not offered, sold or otherwise made available and will not offer, sell or otherwise make available any Notes to any retail investor
in the United Kingdom. For the purposes of this provision, the expression “retail investor” means a person who is one
(or more) of the following:

(i) a retail client, as defined in point (8) of
Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law of the United Kingdom by virtue of the EUWA; or

(ii) a
customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU)
2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No
600/2014 as it forms part of domestic law of the United Kingdom by virtue of the EUWA.

This prospectus supplement is for distribution
only to persons who (i) have professional experience in matters relating to investments and who fall within Article 19(5) of the Financial
Promotion Order, (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations
etc.”) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement
to engage in investment activity (within the meaning of section 21 of the FSMA) in connection with the issue or sale of any securities
may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”).
This prospectus supplement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant
persons. Any investment or investment activity to which this prospectus supplement relates is available only to relevant persons and will
be engaged in only with relevant persons.

Switzerland

Each Underwriter has represented and agreed that:

(i) it
will not make a public offer of the Notes, directly or indirectly, in Switzerland, as such terms are defined or interpreted under the
Swiss Financial Services Act (“FinSA”);

(ii) the Notes will not be admitted
to trading on a trading venue (exchange or multilateral