Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 123

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 123
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 attached to any class of shares
having preferential rights will not be deemed to be varied by: (i) the creation or issue of further shares ranking in some or all respects
equally to such class (but not in priority thereto); or (ii) the purchase or redemption by LBG of its own shares.

As a matter of U.K. law, LBG may, by ordinary
resolution, increase its share capital, consolidate and divide all or any of its shares into shares of larger amount, sub-divide all or
any of its shares into shares of smaller amount and cancel any shares not taken or agreed to be taken by any person. Where a consolidation
or subdivision of shares would result in fractions of a share, the directors may sell the shares representing the fractions for the best
price reasonably obtainable, and distribute the net proceeds of such sale to the relevant members entitled to such proceeds. Where a member’s
entitlement to a portion of the proceeds of sale amounts to less than a minimum figure (as determined by the directors), such portion
may be distributed to a charitable organization at the directors’ discretion.

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Subject to the provisions of the statutes, LBG
may, by special resolution, reduce its share capital, any capital redemption reserve, share premium account or other undistributable reserve
in any way.

Transfer of Shares

All transfers of shares which are in certificated
form may be effected by transfer in writing in any usual or common form or in any other form acceptable to the directors and must be executed
by or on behalf of the transferor and, except in the case of fully paid shares, by or on behalf of the transferee. The transferor will
be deemed to remain the holder of the shares transferred until the name of the transferee is entered in the register of members of LBG
in respect thereof. All transfers of shares which are in uncertificated form may be effected by means of a relevant system, unless the
Uncertificated Securities Regulations 2001 provide otherwise.

The directors may, in the case of shares in certificated
form, in their absolute discretion and without assigning any reason therefor, refuse to register any transfer of shares (not being fully
paid shares) provided that, where any such shares are admitted to the Official List of the U.K. Financial Conduct Authority, such discretion
may not be exercised in such a way as to prevent dealings in the shares of that class from taking