Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 156

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 156
---
| A fee equivalent to the fee that would be payable if securities distributed had been shares and the shares had been deposited for issuance of ADSs                                         | Distribution of securities distributed to holders of deposited securities which are distributed by the depositary to ADS registered holders.      |
| $.02 (or less) per ADSs per calendar year                                                                                                                                                  | Depositary services.                                                                                                                              |
| Registration or transfer fees                                                                                                                                                              | Transfer and registration of shares on the share register to or from the name of the depositary or its agent when you deposit or withdraw shares. |
| Expenses of the depositary                                                                                                                                                                 | Cable, telex and facsimile transmissions (when expressly provided in                                                                              
 the deposit agreement).                                                                                                                           
 Converting foreign currency to US Dollars.                                                                                                        |
| Taxes and other governmental charges the depositary or the custodian have to pay on any ADS or share underlying an ADS, for example, stock transfer taxes, stamp duty or withholding taxes | As necessary.                                                                                                                                     |
| Any charges incurred by the depositary or its agents for servicing the deposited securities                                                                                                | As necessary.                                                                                                                                     |

<div align='center'>37</div>

The Depositary collects its fees for delivery
and surrender of ADSs directly from investors depositing ordinary shares or surrendering ADSs for the purpose of withdrawal or from intermediaries
acting for them. The Depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed
or by selling a portion of distributable property to pay the fees. The Depositary may collect its annual fee for depositary services by
deductions from cash distributions or by directly billing investors or by charging the book-entry system accounts of participants for
them. The Depositary may generally refuse to provide fee-attracting services until its fees for those services are paid.

The Depositary may convert currency itself or
through any of its affiliates and, in those cases, acts as principal for its own account and not as agent, advisor, broker or fiduciary
on behalf of any other person and earns revenue, including, without limitation, transaction spreads, that it will retain for its own account. The
revenue is based on, among other things, the difference between the exchange rate assigned to the currency conversion made under the deposit
agreement and the rate that the Depositary or its affiliate receives when buying or selling foreign currency for its own account. The
Depositary makes no representation that the exchange rate used or obtained in any currency conversion under the deposit agreement will
be the