Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 145

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 145
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 Notes, DTC or its nominee will be considered the sole holder of such Global Notes for all purposes under the Indenture.
Except as described below under “—Issuance of Definitive Securities”, no participant, indirect participant or
other person will be entitled to have Additional Tier 1 Securities registered in its name, receive or be entitled to receive physical
delivery of Additional Tier 1 Securities in definitive form or be considered the owner or holder of the Additional Tier 1 Securities under
the Indenture. Each person having an ownership or other interest in the Additional Tier 1 Securities must rely on the procedures of DTC,
and, if a person is not a participant in DTC, must rely on the procedures of the participant or other securities intermediary through
which that person owns its interest to exercise any rights and obligations of a holder under the Indentures.

Payments on the Global Debt Security

Payments of any amounts in respect of the Additional
Tier 1 Securities will be made to beneficial owners of the Additional Tier 1 Securities in accordance with the rules and procedures of
DTC. Neither we nor the Trustee nor any of our agents will have any responsibility or liability for any aspect of the records of any securities
intermediary in the chain of intermediaries between DTC and any beneficial owner of an interest in Additional Tier 1 Securities, or the
failure of DTC or any intermediary to pass through to any beneficial owner any payments that are made to DTC.

DTC

DTC has advised us as follows: DTC, the world’s
largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization”
within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the
meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section
17A of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). DTC holds and provides asset servicing
for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from
over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the
post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic
computerized book-entry transfers and pledges between Direct Participants