Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 43

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 43
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 following the occurrence of specified regulatory events.

Under the Articles of Association and the Companies
Act 2006, the liability of shareholders is limited to the amount (if any) for the time being unpaid on the shares held by that shareholder.

Variation of Rights and Alteration of Capital

Subject to the provisions of the Companies Act
2006, the Uncertificated Securities Regulations 2001 and every other statute for the time being in force or any judgment or order of any
court of competent jurisdiction concerning companies and affecting LBG (the statutes), the rights attached to any class of shares for
the time being in issue may be varied or abrogated with the consent in writing of the holders of not less than three-quarters in nominal
value of the issued shares of that class or with the sanction of a special resolution passed at a separate meeting of the holders of shares
of that class. At any such separate meeting, the provisions of the Articles of Association relating to general meetings will apply, but
the necessary quorum at any such meeting will be two persons holding or representing by proxy at least one-third in nominal value of the
issued shares of that class (except at an adjourned meeting, at which the quorum shall be any holder of shares of the class, present in
person or by proxy) and any such person may demand a poll and every such holder shall on a poll have one vote for every share of the class
held by such holder.

Any special rights attached to any class of shares
having preferential rights will not be deemed to be varied by: (i) the creation or issue of further shares ranking in some or all respects
equally to such class (but not in priority thereto); or (ii) the purchase or redemption by LBG of its own shares.

As a matter of U.K. law, LBG may, by ordinary
resolution, increase its share capital, consolidate and divide all or any of its shares into shares of larger amount, sub-divide all
or any of its shares into shares of smaller amount and cancel any shares not taken or agreed to be taken by any person. Where a consolidation
or subdivision of shares would result in fractions of a share, the directors may sell the shares representing the fractions for the best
price reasonably obtainable, and distribute the net proceeds of such sale to the relevant members entitled to such proceeds. Where a
member’s entitlement to a portion of the proceeds of sale amounts to less than a minimum figure (as