Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 167

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 167
---
 MiFID II.                                                                                |

Canada

Each Underwriter has severally,
and not jointly, acknowledged that no prospectus has been filed with any securities commission or similar regulatory authority in Canada
in connection with the offer and sale of the Additional Tier 1 Securities, the Additional Tier 1 Securities have not been, and will not
be, qualified for sale under the securities laws of Canada or any province or territory thereof and no securities commission
or similar regulatory authority in Canada has reviewed or in any way passed upon this prospectus supplement, the underlying prospectus
or the merits of the Additional Tier 1 Securities and any representation to the contrary is an offence.

Each Underwriter has severally,
and not jointly, represented and agreed that it has not offered, sold or distributed and will not offer, sell or distribute any Additional
Tier 1 Securities, directly or indirectly, in Canada or to or for the benefit of any person subject to the securities laws of any province
or territory of Canada, other than in compliance with applicable securities laws and, without limiting the generality of the foregoing:

<div align='center'>S-103</div>

(a) any offer or sale of the Additional
Tier 1 Securities in Canada will be made only to only to purchasers that are “accredited investors” (as such term is defined
in section 1.1 of NI 45-106 or, in Ontario, as such term is defined in section 73.3(1) of the Securities Act (Ontario)), that are
also “permitted clients” (as such term is defined in section 1.1 of National Instrument 31-103), that are purchasing as principal,
or are deemed to be purchasing as principal in accordance with applicable Canadian securities laws, and that are not a person created
or used solely to purchase or hold the Additional Tier 1 Securities as an "accredited investor" as described in paragraph (m)
of the definition of "accredited investor" in section 1.1 of NI 45-106;

(b) it is either (i) appropriately registered
under applicable Canadian securities laws in each relevant province or territory to sell and deliver the Additional Tier 1 Securities,
(ii) such sale and delivery will be made through an affiliate of it that is so registered if the affiliate is registered in a category
that permits such sale and has agreed to make such sale and delivery in compliance with the representations, warranties and agreements
set out herein, or (iii) it is relying on