Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 152

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 152
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levant Currency” means pounds
sterling or, if at the relevant time or for the purposes of the relevant calculation or determination there is a Relevant Stock Exchange
but the London Stock Exchange is not the Relevant Stock Exchange (or is the Relevant Stock Exchange but the Ordinary Shares or Relevant
Shares are not quoted or dealt in thereon in pounds sterling), the currency in which the Ordinary Shares or the Relevant Shares (as applicable)
are quoted or dealt in on the Relevant Stock Exchange at such time.

“Relevant Date” in respect
of any payment on any Additional Tier 1 Security, means the date on which such payment first becomes due or (if any amount of the money
payable is improperly withheld or refused) the date on which payment in full of the amount required to be paid is made or, in the case
where presentation is required pursuant to the terms of the Additional Tier 1 Securities, (if earlier) the date seven days after that
on which notice is duly given to the Additional Tier 1 Security that, upon further presentation of the Additional Tier 1 Security (or
the Global Note) being made in accordance with the terms of the Additional Tier 1 Securities, such payment will be made, provided that
payment is in fact made upon such presentation.

“Relevant Stock Exchange” means
the London Stock Exchange or, if at the relevant time the Ordinary Shares are not at that time listed and admitted to trading on the London
Stock Exchange, the principal stock exchange or securities market on which the Ordinary Shares are then listed, admitted to trading or
quoted or accepted for dealing (if any).

“Settlement Share Depository”
means a reputable financial institution, depository entity, trust company or similar entity (which in each such case is wholly independent
of LBG) to be appointed by LBG on or prior to any date when a function ascribed to the Settlement Share Depository in the Indenture is
required to be performed, to perform such functions and which will be required to undertake, for the benefit of the holders and beneficial
owners of the Additional Tier 1 Securities, to hold the Settlement Shares (and the Alternative Consideration, if any) on behalf of such
holders and beneficial owners of the Additional Tier 1 Securities in one or more segregated accounts, unless otherwise required to be
transferred out of such accounts for the purposes of the Settlement Shares Offer on terms consistent with the Indenture.

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“Securities” means