Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 54

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 54
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 security or obligation of
LBG or another person, as a result of the exercise of the U.K. bail-in power by the relevant U.K. resolution authority with respect to
LBG, nor the exercise of the U.K. bail-in power by the relevant U.K. resolution authority with respect to the Senior Notes will be a Senior
Notes Default or a Senior Notes Event of Default for any purpose.

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 survive the exercise of the U.K. Bail-in Power by the relevant U.K. resolution authority with respect to the Senior Notes.

By purchasing or acquiring Senior Notes, each
holder and each beneficial owner of the Senior Notes: (i) acknowledges and agrees that the exercise of the U.K. bail-in power by the relevant
U.K. resolution authority in respect of the Senior Notes shall not give rise to a default or an Event of Default for purposes of Section
315(b) (Notice of Default) and Section 315(c) (Duties of the Trustee in Case of Default) of the Trust Indenture Act (the “TIA”);
(ii) to the extent permitted by the TIA, waives any and all claims against the Trustee for, agrees not to initiate a suit against the
Trustee in respect of, and agrees that the Trustee shall not be liable for, any action that the Trustee takes, or abstains from taking,
in either case in accordance with the exercise of the U.K. bail-in power by the relevant U.K. resolution authority with respect to the
Senior Notes; and (iii) acknowledges and agrees that, upon the exercise of any U.K. bail-in power by the relevant U.K. resolution authority,
(a) the Trustee shall not be required to take any further directions from holders or beneficial owners of the Senior Notes under Section
5.12 (Control by Holders) of the Senior Base Indenture, and (b) neither the Senior Base Indenture nor the Twenty-First Senior Supplemental
Indenture shall impose any duties upon the Trustee whatsoever with respect to the exercise of any U.K. bail-in power by the relevant U.K.
resolution authority. Notwithstanding the foregoing, if, following the completion of the exercise of the U.K. bail-in power by the relevant
U.K. resolution authority,