Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 118

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 118
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x) and (y) above, the additional minimum consideration 
 receivable or price (if any) upon the conversion or exchange of such Securities, or upon the exercise of such rights or subscription attached      
 thereto or, as the case may be, upon exercise of such options, warrants or rights and (z) the consideration receivable or price per Ordinary       
 Share upon the conversion or exchange of, or upon the exercise of such rights of subscription attached to, such Securities or, as the              
 case may be, upon the exercise of such options, warrants or rights shall be the aggregate consideration or price referred to in (x) or             
 (y) above (as the case may be) divided by the number of Ordinary Shares to be issued upon such conversion or exchange or exercise at the           
 initial conversion, exchange or subscription price or rate;                                                                                        |

| (iii) | if the consideration or price determined pursuant to (i) or (ii) above (or any component thereof) shall be expressed in a currency       
 other than the Relevant Currency, it shall be converted into the Relevant Currency at the Prevailing Rate on the relevant Effective Date 
 (in the case of (i) above) or the relevant date of first public announcement (in the case of (ii) above);                                |

| (iv) | in determining the consideration or price pursuant to the above, no deduction shall be made for any commissions or fees (howsoever      
 described) or any expenses paid or incurred for any underwriting, placing or management of the issue of the relevant Ordinary Shares or 
 Securities or options, warrants or rights, or otherwise in connection therewith; and                                                    |

| (v) | the consideration or price shall be determined as provided above on the basis of the consideration or price received, receivable,   
 paid or payable, regardless of whether all or part thereof is received, receivable, paid or payable by or to LBG or another entity. |

Notwithstanding the foregoing provisions:

| A | where the events or circumstances giving rise to any adjustment to the Conversion Price have resulted or will result in an adjustment     
 to the Conversion Price or where more than one event which gives rise to an adjustment to the Conversion Price occurs within such a short 
 period of time that, in the opinion of LBG, a modification to the adjustment provisions is required to give the intended result, such     
 modification shall be made as may be determined in good faith by an Independent Adviser to be in its opinion appropriate, including to    
 ensure that (i) an