Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 200

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 200
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 registered capital securities
shall be validly given if in writing and mailed, first-class postage prepaid, to them at their respective addresses in the register maintained
by the trustee.

The Trustee

The Bank of New York Mellon, acting through its
London Branch, 160 Queen Victoria Street, London EC4V 4LA, is the trustee under the indentures with respect to the capital securities.
The trustee shall have and be subject to all the duties and responsibilities specified with respect to an indenture trustee under the
TIA. Subject to the provisions of the TIA, the trustee is under no obligation to exercise any of the powers vested in it by the indenture
at the request of any holder of capital securities, unless offered indemnity or security satisfactory to the Trustee in its sole discretion
by the holder against the costs, expense and liabilities which might be incurred thereby. We and certain of our subsidiaries maintain
deposit accounts and conduct other banking transactions with The Bank of New York Mellon in the ordinary course of our business. The Bank
of New York Mellon is also the book-entry depositary and paying agent with respect to our capital securities. The Bank of New York Mellon
is the depositary with respect to the American Depositary Shares representing our ordinary shares.

Consent to Service of Process

Under the indenture, LBG irrevocably designates
Kelvina Smith, Chief Legal Officer, Lloyds Securities Inc. and Deputy Chief Legal Officer, North America, Lloyds Bank Corporate Markets
plc (or any successor thereto), currently of 1095 Avenue of the Americas, New York, NY 10036, as the authorized agent for service of process
in any legal action or proceeding arising out of or relating to the indenture or any capital securities brought in any federal or state
court in the Borough of Manhattan, in The City of New York, New York and LBG irrevocably submits to the jurisdiction of those courts.

<div align='center'>23</div>

<div align='center'>DESCRIPTION OF CERTAIN PROVISIONS RELATING TO DEBT SECURITIES AND CAPITAL SECURITIES</div>

Form of Debt Securities and Capital Securities; Book-Entry System

General

Unless the relevant prospectus supplement states
otherwise, the debt securities and capital securities shall initially be represented by one or more global securities in registered form,
without coupons attached, and will be deposited with or on behalf of one or more depositaries, including, without limitation, The Depository