Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 22

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 22
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igation”), the Trustee may without further notice institute such                              
 proceedings against LBG as it may think fit to enforce the Performance Obligation, provided that LBG shall not by virtue of the institution     
 of any such proceedings be obliged to pay any sum or sums, in cash or otherwise (including any damages) earlier than the same would otherwise   
 have been payable under the Additional Tier 1 Securities or the Indenture.                                                                      |
| No other remedies                                                                                                                               
 For the avoidance of doubt, the breach by LBG of any                                                                                            
 Performance Obligation shall not give the Trustee and/or the holders and beneficial owners of the Additional Tier 1 Securities a claim          
 for damages and, in such circumstances, the sole and exclusive remedy that the Trustee and the holders and beneficial owners of the Additional  
 Tier 1 Securities may seek under the Additional Tier 1 Securities and the Indenture is specific performance under New York law. By its          
 purchase or acquisition of the Additional Tier 1 Securities, each Additional Tier 1 holder and each beneficial owner of the Additional          
 Tier 1 Securities acknowledges and agrees that such holder and beneficial owner will not seek, and will not direct the Trustee to seek,         
 a claim for damages against LBG in respect of a breach by LBG of a Performance Obligation and that the sole and exclusive remedy that           
 such holder, beneficial owner and the Trustee may seek under the Additional Tier 1 Securities and the Indenture for a breach by us of           
 a Performance Obligation is specific performance under New York law. See “Risk Factors—The Additional Tier 1 Securities                         
 do not contain events of default and the remedies available to holders of the Additional Tier 1 Securities are limited”.                        |
| Other than the limited remedies specified above, no remedy                                                                                      
 against LBG shall be available to the Trustee or the holders or beneficial owners of the Additional Tier 1 Securities, provided that (1)        
 Trustee and the holders and beneficial owners of the Additional Tier 1 Securities shall have such rights and powers as they are required        
 to have under the TIA, including the right of any holder of the Additional Tier 1 Securities to institute proceedings for the enforcement       
 of any payments of principal and interest when due, subject to the subordination provisions set forth in the Indenture and (2) such limitations 
 shall not apply to LBG’s obligations to pay the fees and expenses of, and to indemnify, the Trustee and the Trustee’s rights                    
 to apply money collected