Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 14

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 14
---
 against the subsidiary.                                                                                                                                                                                                                                                                                                 |
| Events of Default; Default; Limitation of Remedies | The applicable defaults, events of default and limitations of remedies which apply to the Subordinated Notes are described in the accompanying prospectus under “Description of Debt Securities—Events of Default; Default; Limitation of Remedies—Subordinated Debt Security Events of Default” and “Description of Debt Securities—Events of Default; Default; Limitation of Remedies—Subordinated Debt Security Defaults”. |

<div align='center'>S-16</div>

| Agreement with Respect to the Exercise of U.K. Bail-in Power | Notwithstanding any other agreements, arrangements, or understandings                                                                            
 between us and any holder or beneficial owner of the Subordinated Notes by purchasing or acquiring the Subordinated Notes, each holder           
 (including each beneficial owner) of the Subordinated Notes acknowledges, accepts, agrees to be bound by  and consents to the                    
 exercise of any U.K. bail-in power (as defined below) by the relevant U.K. resolution authority that may result in (i) the reduction or          
 cancellation of all, or a portion, of the principal amount of, or interest on, the Subordinated Notes; (ii) the conversion of all, or            
 a portion, of the principal amount of, or interest on, the Subordinated Notes into shares or other securities or other obligations of            
 LBG or another person (and the issue to or conferral on the holder of such shares, securities or obligations, including by means of amendment,   
 modification or variation of the terms of the Subordinated Notes); and/or (iii) the amendment or alteration of the maturity of the Subordinated  
 Notes, or amendment of the amount of interest due on the Subordinated Notes, or the dates on which interest becomes payable, including           
 by suspending payment for a temporary period; any U.K. bail-in power may be exercised by means of variation of the terms of the Subordinated     
 Notes solely to give effect to the exercise by the relevant U.K. resolution authority of such U.K. bail-in power. With respect to (i),           
 (ii) and (iii) above, references to principal and interest shall include payments of principal and interest that have become due and payable     
 (including principal that has become due and payable at the relevant maturity date), but which have not been paid, prior to the exercise         
 of any U.K. bail-in power. Each holder and each beneficial owner of the Subordinated Notes further acknowledges and agrees