Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 97

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 97
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utable Items, such additional amounts in respect of payments of interest (but not in respect of payments of principal
or any other amounts) (“Additional Amounts”) as will result (after such withholding or deduction) in receipt by the
holders of the Additional Tier 1 Securities of the sums of interest which would have been received (in the absence of such withholding
or deduction) by them in respect of their Additional Tier 1 Securities; except that no such Additional Amounts shall be payable with respect
to any Additional Tier 1 Security:

<div align='center'>S-64</div>

| (a) | held by or on behalf of any holder who is liable to such tax, duty, assessment or governmental charge in respect of such Additional    
 Tier 1 Security by reason of such holder having some connection with the United Kingdom other than the mere holding of such Additional 
 Tier 1 Security; or                                                                                                                    |

| (b) | to, or to a third party on behalf of, a holder if such withholding or deduction may be avoided by such holder by complying with any         
 statutory requirement or by making a declaration of non-residence or other similar claim for exemption to any authority of or in the United 
 Kingdom; or                                                                                                                                 |

| (c) | presented or surrendered for payment (where presentation or surrender is required) more than 30 days after the Relevant Date except          
 to the extent that the holder thereof would have been entitled to such Additional Amounts on presenting or surrendering the same for payment 
 at the expiry of such period of 30 days; or                                                                                                  |

| (d) | where the deduction or withholding is imposed by reason of Sections 1471-1474 of the U.S. Internal Revenue Code and the U.S. Treasury          
 regulations thereunder or any agreement with the U.S. Internal Revenue Service in connection with these sections or regulations (“FATCA”),     
 any intergovernmental agreement between the United States and the United Kingdom or any other jurisdiction with respect to FATCA, or any       
 law, regulation or other official guidance enacted in any jurisdiction implementing, or relating to, FATCA or any intergovernmental agreement; 
 or                                                                                                                                             |

| (e) | any combination of the above items, |

nor shall Additional Amounts be paid with respect
to any interest payment on the Additional Tier 1 Securities to any holder who is a fiduciary or partnership or any person other than the
sole beneficial owner of such payment to the extent such payment would be required by the laws of