Lloyds Banking Group PLC — Capital/Financing Update 2021

Apr 30, 2021

SUPPLEMENTARY PROSPECTUS DATED 28 APRIL 2021

LLOYDS BANKING GROUP plc

(incorporated in Scotland with limited liability with registered number 95000)

£25,000,000,000

Euro Medium Term Note Programme

This Supplement (the "Supplement") to the prospectus dated 18 May 2020, as supplemented by the supplementary prospectuses dated 30 July 2020, 29 October 2020 and 3 March 2021, which together comprise a base prospectus (the "Prospectus") for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation"), constitutes a supplementary prospectus for the purposes of Article 23 of the UK Prospectus Regulation, and is prepared in connection with the £25,000,000,000 Euro Medium Term Note Programme (the "Programme") established by Lloyds Banking Group plc (the "Company").

This Supplement is supplemental to, and should be read in conjunction with, the Prospectus and the documents incorporated by reference therein. Capitalised terms used in this Supplement but not defined herein shall have the meanings ascribed to them in the Prospectus.

The Company accepts responsibility for the information contained in this Supplement. To the best of the knowledge of the Company (having taken all reasonable care to ensure that such is the case) the information contained in this Supplement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Purpose of this Supplement

The purpose of this Supplement is to:

(a) incorporate by reference into the Prospectus the Q1 2021 Interim Management Statement (as defined in this Supplement), which was published via the RNS on 28 April 2021; and
(b) update the no significant change statement of the Company and its subsidiary and associated undertakings (the "Group").

(a) Documents Incorporated by Reference

By virtue of this Supplement, the unaudited Q1 2021 Interim Management Statement of the Company for the three months ended 31 March 2021 (RNS Number 7899W) (the "Q1 2021 Interim Management Statement"), which has previously been filed with the Financial Conduct Authority, shall be deemed to be incorporated in, and form part of, the Prospectus and supplement the section entitled "Documents Incorporated by Reference" on pages 12 to 13 of the Prospectus.

Any documents themselves incorporated by reference in the Q1 2021 Interim Management Statement shall not form part of the Prospectus.

(b) No significant change of the Group

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The no significant change of the Group statement at paragraph 3 on page 187 of the Prospectus is updated as set out below:

There has been no significant change in the financial position or financial performance of the Group since 31 March 2021, the date to which the Group’s last published unaudited interim financial information (as set out in the Company’s Q1 2021 Interim Management Statement) was prepared.

The Company will provide, without charge, to each person to whom a copy of this Supplement has been delivered, upon the oral or written request of such person, a copy of any or all of the documents which are incorporated in whole or in part by reference herein or in the Prospectus. Written or oral requests for such documents should be directed to the Company at its principal office at The Mound, Edinburgh, EH1 1YZ. Copies of all documents incorporated by reference in this Supplement can also be viewed on the website of the Regulatory News Service operated by the London Stock Exchange at: https://www.londonstockexchange.com/news?tab=news-explorer.

To the extent that there is any inconsistency between (a) any statement in this Supplement or any statement incorporated by reference into the Prospectus by this Supplement and (b) any other statement in or incorporated by reference into the Prospectus, the statements in (a) above will prevail.

Save as disclosed in this Supplement, no other significant new factor, material mistake or inaccuracy relating to information included in the Prospectus has arisen or been noted, as the case may be, since the publication of the Prospectus.

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