Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 121

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 121
---
 paid up thereon. Subject to the rights attaching to any
shares, any dividend or other monies payable in respect of a share may be paid in such currency or currencies as the directors may determine
using such exchange rates as the directors may select.

<div align='center'>30</div>

The opportunity to elect to receive new shares
instead of any cash dividend recommended by the directors may be offered to shareholders provided that the directors shall have obtained
in advance the shareholders’ approval to do so as required by the Articles of Association and the procedure under the Articles of
Association is followed for allotting such shares.

In addition, LBG may by ordinary resolution direct
the payment of a dividend in whole or in part by the distribution of specific assets (a non-cash distribution).

On any distribution by way of capitalization,
the amount to be distributed will be appropriated amongst the holders of ordinary shares in proportion to their holdings of ordinary shares
(pro rata to the amount paid up thereon). If the amount to be distributed is applied in paying up in full unissued ordinary shares of
LBG, a shareholder will be entitled to receive bonus shares of the same class as the shares giving rise to that shareholder’s entitlement
to participate in the capitalization.

Any dividend or other moneys payable to a member
that has not been cashed or claimed after a period of 12 years from the date of declaration of such dividend or other moneys payable to
a member will be forfeited and revert to LBG. LBG shall be entitled to use such unclaimed or unclaimed dividend or other moneys payable
to a member for its benefit in any manner that the directors may think fit. LBG shall not be a trustee of dividends or other moneys payable
that have not been cashed or claimed and it shall not be liable to pay interest on such dividends or other moneys.

On a return of capital, whether in a winding-up
or otherwise, the assets of LBG available for distribution among the members will be distributed first to the holders of the preference
shares in accordance with rights attached to them on issue. The balance of any assets, subject to the rights of any other class of shares,
will then be distributed to each holder of ordinary shares rateably by reference to the proportion of ordinary share capital held by that
holder, relative to the aggregate total issued ordinary share capital.

LBG’s ordinary shares do not confer any
rights of redemption. Rights of redemption in respect of LBG