Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 128

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 128
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 Depository on or before the Notice Cut-off Date shall be canceled, which date may be up to twelve (12) Business Days following the
Notice Cut-off Date (the “Final Cancellation Date”).

In order to obtain delivery of the relevant Settlement
Shares, ADSs or Alternative Consideration, a holder must deliver its Settlement Notice to the Settlement Share Depository on or before
the Notice Cut-off Date. If such delivery is made after the end of normal business hours at the specified office of the Settlement Share
Depository, such delivery shall be deemed for all purposes to have been made or given on the following Business Day. The Settlement Notice
shall contain: (i) the name of the holder, (ii) the Tradable Amount of the book-entry interests in the Additional Tier 1 Securities held
by such holder on the date of such notice, (iii) the name to be entered in LBG’s share register, (iv) whether Settlement Shares
are to be delivered to the holder or ADSs are to be deposited on behalf of the holder into LBG’s ADS facility, (v) the details of
the CREST or other clearing system account, details of the registered account in LBG’s ADS facility, or, if the Settlement Shares
are not a participating security in CREST or another clearing system, the address to which the Settlement Shares (or the Settlement Share
component, if any, of any Alternative Consideration) and/or cash (if not expected to be delivered through DTC) should be delivered, and
(vi) such other details as may be required by the Settlement Share Depository.

If the Additional Tier 1 Securities are held through
DTC, the Settlement Notice must be given in accordance with the standard procedures of DTC (which may include the notice being given to
the Settlement Share Depository by electronic means) and in a form acceptable to DTC and the Settlement Share Depository. If the Additional
Tier 1 Securities are in definitive form, the Settlement Notice must be delivered to the specified office of the Settlement Share Depository
together with the relevant Additional Tier 1 Security.

Subject as provided herein and provided the Settlement
Notice and the relevant Additional Tier 1 Securities, if applicable, are delivered on or before the Notice Cut-off Date, the Settlement
Share Depository shall deliver the relevant Alternative Consideration or Settlement Shares (rounded down to the nearest whole number of
Settlement Shares) to, or shall deposit such relevant Settlement Shares with the ADS Depos