Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 91

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 91
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 rates of taxation. The deductibility of capital losses is subject to limitations.

Backup Withholding and Information Reporting.
Information returns may be filed with the Internal Revenue Service in connection with payments on the Notes and the proceeds from a sale
or other disposition of the Notes. A U.S. holder may be subject to backup withholding on these payments and proceeds if the U.S. holder
fails to provide its taxpayer identification number and comply with certain certification procedures or otherwise establish an exemption
from backup withholding. The amount of any backup withholding from a payment to a U.S. holder will be allowed as a credit against the
U.S. holder’s U.S. federal income tax liability and may entitle the U.S. holder to a refund, provided that the required information
is timely furnished to the Internal Revenue Service.

Certain U.S. holders who are individuals and certain
specified entities may be required to report information relating to non-U.S. accounts through which the U.S. holders hold their Notes
(or information regarding the Notes if the Notes are not held through any financial institution). U.S. holders should consult their tax
advisers regarding their reporting obligations with respect to the Notes.

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Proposed financial transactions tax (“FTT”)

The European Commission published a proposal (the
“Commission’s Proposal”) for a Directive for a common FTT in Belgium, Estonia, Germany, Greece, Spain, France, Italy,
Austria, Portugal, Slovenia and Slovakia (excluding Estonia, the “participating Member States”). However, Estonia has since
stated that it will not participate. The Commission’s Proposal has very broad scope and could, if introduced, apply to certain dealings
in the Notes (including secondary market transactions) in certain circumstances.

Under the Commission’s Proposal, the FTT
could apply in certain circumstances to persons both within and outside of the participating Member States. Generally, it would apply
to certain dealings in the Notes where at least one party is a financial institution, and at least one party is established in a participating
Member State. A financial institution may be, or be deemed to be, “established” in a participating Member State in a broad
range of circumstances, including (a) by transacting with a person established in a participating Member State or (b) where the financial
instrument which is subject to the dealings is issued in a participating Member State.

The FTT proposal remains subject to negotiation
between the participating Member States and the scope and timing