Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 46

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 46
---
 any share registered in
the name of a member (or any other person entitled to such shares by virtue of transmission on death or bankruptcy or otherwise at law)
provided that: (i) such shares remaining untraced for 12 years and during that period at least three dividends in respect of such shares
have become payable and no dividend in respect of those shares has been claimed; (ii) LBG uses reasonable efforts to trace the relevant
holder and, following the expiry of the 12 year period, sends a notice to the last known physical or email address of such holder stating
LBG’s intention to sell the shares; and (iii) during the three months following sending such notice, LBG does not receive any
communication from such holder. LBG can also sell any additional shares held by the relevant holder that were issued during such 12 year
period provided that no dividend on such additional shares has been cashed or claimed by the relevant holder during such period.

The proceeds from the sale of untraced shares
shall (after payment of the costs of the sale) be forfeited by the relevant holder and shall belong to LBG. LBG shall not be liable or
be required to account to the relevant holder (or other person previously entitled) for the proceeds of such sale. LBG is entitled to
use or invest the proceeds from such sale in any manner that the directors think fit.

Forfeiture and Lien

The directors may by resolution make calls upon
members in respect of any moneys unpaid on their shares (but subject to the terms of allotment of such shares) in the manner required
by the Articles of Association.

If a member fails to pay in full any call or instalment
of a call on or before the due date for payment, then, following notice by the directors requiring payment of the unpaid amount with any
accrued interest and any expenses incurred, such share may be forfeited by a resolution of the directors to that effect (including all
dividends declared in respect of the forfeited share and not actually paid before such forfeiture). A member whose shares have been forfeited
will cease to be a member in respect of the shares, but will, notwithstanding the forfeiture, remain liable to pay to LBG all monies which
at the date of forfeiture were presently payable together with interest. The directors may at their absolute discretion enforce payment
without any allowance for the value of the shares at the time of forfeiture or for any consideration received on