Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 77

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 77
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5) of the Financial
Promotion Order, (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations
etc.”) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement
to engage in investment activity (within the meaning of section 21 of the FSMA) in connection with the issue or sale of any securities
may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”).
This prospectus supplement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant
persons. Any investment or investment activity to which this prospectus supplement relates is available only to relevant persons and will
be engaged in only with relevant persons.

Switzerland

Each Underwriter has severally, and not jointly, represented
and agreed that:

(i) it
will not make a public offer of the Senior Notes, directly or indirectly, in Switzerland, as such terms are defined or interpreted under
the Swiss Financial Services Act (“FinSA”);

(ii) the Senior Notes will not be
admitted by it to trading on a trading venue (exchange or multilateral trading facility) in Switzerland;

<div align='center'>S-50</div>

(iii) it will not offer, sell, advertise
or distribute the Senior Notes, directly or indirectly, in Switzerland, as such terms are defined or interpreted under the FinSA, except
to professional clients as such term is defined or interpreted under the FinSA (the “Professional Investors”); and

(iv) it acknowledges that no key information
document pursuant to article 58(1) FinSA (or any equivalent document under the FinSA) has been or will be prepared in relation to any
Senior Notes and that, therefore, any Senior Notes with a derivative character within the meaning of article 86(2) of the Swiss Financial
Services Ordinance may not be offered or recommended to private clients within the meaning of the FinSA in Switzerland.

The Senior Notes may not be publicly offered,
directly or indirectly, in Switzerland, except to Professional Investors. Offering or marketing material relating to Senior Notes may
not be distributed or otherwise made available in Switzerland, except to Professional Investors.

The Senior Notes do not constitute participations
in a collective investment scheme within the meaning of the Swiss Collective Investment Schemes Act