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Q3 2026 interim management statement Lloyds Banking Group 29 October 2026
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Lloyds Banking Group 2 Continuing to deliver, confident in our outlook Lloyds Banking Group 2 Purpose Helping Britain Prosper Sustained strength in financial performance On track to meet our 2026 guidance Continued strategic delivery laying firm foundations for Accelerate 2030
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Lloyds Banking Group 3 Sustained strength in financial performance Financial performance 1 (£m) Q3 2026 YTD Q3 2025 YTD YoY % Q3 2026 vs Q2 2026 % Net interest income 11,084 10,106 10 3,806 3 Other income 4,996 4,526 10 1,686 (1) Operating lease depreciation (1,261) (1,075) (17) (420) 7 Net income 14,819 13,557 9 5,072 2 Operating costs (7,246) (7,176) (1) (2,370) 1 Remediation (61) (912) 93 (22) 21 Total costs incl. remediation (7,307) (8,088) 10 (2,392) 2 Underlying profit before impairment 7,512 5,469 37 2,680 6 Impairment charge (930) (618) (50) (313) 3 Underlying profit 6,582 4,851 36 2,367 7 Statutory profit after tax 4,835 3,322 46 1,712 9 Net interest margin 3.21% 3.04 % 17bp 3.25% 3bp Cost:income ratio 49.3% 59.7% (10.4pp) 47.2% (1.8pp) Return on tangible equity 17.9% 11.9 % 6.0pp 19.5% 2.5pp TNAV per share 55.4p 55.0 p 0.4p 55.4p (1.6p) CET1 ratio 2 13.3% 13.8 % (0.5pp) 13.3% 0.2pp 1 – Underlying basis. Unless otherwise stated, numbers quoted in this presentation are on an underlying basis. 2 – CET1 ratio variance to Q2 shown on a pro forma basis • Statutory PAT £4.8bn YTD, up 46% YoY • Continued income growth: net income £14.8bn YTD, up 9% YoY; £5.1bn in Q3, up 2% QoQ • Cost discipline: operating costs £7.2bn YTD, up 1% YoY; cost:income ratio 49.3% YTD, 47.2% in Q3 • Strong and stable credit performance: impairment £930m YTD; AQR of 25bps • RoTE 17.9% YTD, 19.5% Q3 • Strong capital generation 153bps YTD • CET1 ratio 13.3%
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Lloyds Banking Group 4 (0.3) 0.6 2.1 (0.6) -1.1 -0.1 0.9 1.9 Q3 lending change (£bn) 1 - Includes Europe and UK private bank. Lending also includes Overdrafts. Q3 deposit change (£bn) Retail +£1.8bn/+0.5% Commercial +£3.3bn/+3.4% Retail ( £0.3)bn/(0.1)% Commercial +£2.1bn/+1.2% • Lending £495.5 bn, up £4.0bn in Q3; up £14.4bn / 3% YTD o Mortgages up £ 0.3 bn QoQ o Cards, Loans, Motor and Europe up £1.5bn QoQ o Commercial up £ 3.3 b n QoQ with £3.1bn growth in CIB and £0.2bn in BCB; up £9.2bn / 10% YTD • D eposits £502.8bn, up £ 1.9 bn in Q3 o Retail broadly stable QoQ; UK deposits up £0.2bn with PCA growth partly offset by lower savings, Europe down in a competitive market o Commercial up £ 2.1 bn; growth in targeted sectors • IP&I open book AuA £247bn Continued strength in customer franchise Retail current a/c Retail UK savings Commercial Banking deposits 0.7 0.3 0.3 3.1 0.3 0.2 -1.1 -0.6 -0.1 0.4 0.9 1.4 1.9 2.4 Unsecured loans Europe and other 1 Motor Finance Mortgages Credit cards Europe and other 1 0.1 Corporate and Institutional Banking (CIB) Business and Commercial Banking (BCB)
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Lloyds Banking Group 5 0.1 477.9 Mortgages Europe & o ther Q2 2026 Q3 2026 1.1 0.3 Commercial Banking 9 (3) 322 325 Structural hedge Deposits Q2 2026 Q3 2026 (1) Mortgages Funding, capital & other Unsecured & Motor 1.6 Net interest income and banking net interest margin (£bn, bps) • YTD NII £ 11.1 bn, up 10% YoY • Q3 NII £3.8bn, up 10% YoY, up 3% QoQ o NIM 325bps, up 3bps QoQ driven by hedge tailwind, partially offset by mortgage and deposit headwinds o Hedge income of £1.9bn; notional unchanged • YTD Non - banking NII charge of £386m, Q3 £135m • Q3 AIEAs £481bn, up 1% QoQ and 3% YoY • Continue to expect 2026 NII to be >£14.9bn Average interest earning assets (£bn) (2) 481.0 Continued growth in net interest income £3.71bn £3.81bn
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Lloyds Banking Group 6 Other income (£m) • YTD OOI £5.0bn, up 10% • Q3 OOI £1.7bn, up 8 % YoY, down 1% QoQ o Strength in Retail and Lloyds Living offset by higher subsidence claims, lower markets income and non - repeat of Q2 securitisation gains and LDC exit timing • Q3 operating lease depreciation £ 420 m , down 7% QoQ o Q3 decrease following non - repeat of the additional Q2 revaluation charge partly offset by quarterly run - rate in line with fleet growth Broad based momentum in other income 1,430 1,433 1,452 1,517 1,557 1,594 1,605 1,705 1,686 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 + 8 % YoY + 9 % 2 - year CAGR Retail Tusker fleet >100k vehicles Expanding new Transport ecosystem for simpler & smarter vehicle management Commercial Launched Lloyds Accept Launching digital assets capabilities IP&I Automating home insurance claims enabling customers to self - serve End to end wealth proposition; integrating UK Private Banking into IP&I Equity Investments LDC: Strong YTD performance for new business and exits Lloyds Living on track to invest in >10k homes by year end Recent developments Upcoming plans Illustrative strategic OOI progress
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Lloyds Banking Group 7 7,176 7,246 (379) 212 (149) 386 Q3 2025 YTD Cost savings Pay & inflation Investment & depreciation (incl. Severance) BAU growth, Lloyds Wealth and other Q3 2026 YTD Cost:income ratio (%) Ongoing cost discipline Operating costs (£ m ) +1% YoY • YTD operating costs £7.2bn, up 1% YoY o Reflects continued cost savings and lower investment (including severance) at this stage in strategic cycle • Q3 operating costs £2.4bn, down 1% QoQ • YTD remediation charge £61m; Q3 £22m • YTD cost:income ratio 49.3%; Q3 47.2% • Costs expected to be higher in Q4 given Bank Levy and investment spend timing • Continue to expect cost:income ratio <50% in 2026 (operating costs <£9.9bn) Cost:income ratio (%) Cost:income ratio excl. Remediation Remediation Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 68.4% 55.7% 51.9% 49.0% 47.2% 49.6% 54.5% 51.7% 48.4% 46.7%
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Lloyds Banking Group 8 • Strong and stable credit performance reflecting prudent lending and resilient customer base o Arrears low and stable across portfolios o Stable early warning indicators • YTD impairment charge £930m, AQR 25bps o Pre - MES increase reflecting Retail model updates in both ‘25 and ‘26, a more normalised impairment level in ‘26, alongside lower one - off releases in Commercial • Q3 impairment charge £313m, AQR 25bps o Pre - MES AQR of 25bps from a stable underlying charge and model updates in Commercial o Updated economic outlook resulted in small Q3 MES charge from higher unsecured interest rates • Continue to expect 2026 AQR to be c.25bps Q3 2026 YTD Q3 2025 YTD YoY £m Q3 2026 QoQ £m Charge (credit) pre updated MES 1 842 591 (251) 305 38 Retail 760 627 (133) 272 (8) Commercial Banking 81 (36) (117) 33 45 Other 1 - (1) - - Updated economic outlook 88 27 (61) 8 (29) Retail 84 (42) (126) 7 (25) Commercial Banking 4 69 65 1 (4) Total impairment charge / (credit) 930 618 (312) 313 9 Strong and stable credit performance Impairment (£m) 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% Q4 19 Q2 20 Q4 20 Q2 21 Q4 21 Q2 22 Q4 22 Q2 23 Q4 23 Q2 24 Q4 24 Q2 25 Q4 25 Q2 26 Q3 26 Cards Motor Loans Mortgages Retail new to arrears (3 month rolling average, %) 1 – Impairment charges absent the impact from updated economic outlook, thus reflecting only observed movements in credit quality .
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Lloyds Banking Group 9 57.0 55.4 7.7 (7.6) (3.7) 0.6 1.4 Q3 2026 YTD Q3 2025 YTD YoY % Q3 2026 QoQ % Underlying profit 6,582 4,851 36 2,367 7 Restructuring (51) (16) (17) Volatility and other items 94 ( 157 ) (18) Statutory profit before tax 6,625 4,678 42 2,332 3 Tax expense (1,790) ( 1,356 ) (32) (620) 11 Statutory profit after tax 4,835 3,322 46 1,712 9 Return on tangible equity 17.9% 11.9% 6.0pp 19.5% 2.5pp • YTD RoTE 17.9%; Q3 RoTE 19.5% • Q3 restructuring charge £17m, v olatility charge £18m • TNAV per share 55.4p, down 1.6p YTD and in Q3 o Profits and lower share count offset by distributions and impact of higher rates on cash flow hedge reserve • Continue to expect material TNAV per share growth over the medium - term • Continue to expect RoTE of > 16% in 2026 Tangible net asset value per share (pence) Attributable profit Q4 2025 Q3 2026 Net share count Cash flow hedge reserve Pensions & other Distributions (1.6) p Strong return on tangible equity Statutory profit (£m)
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Lloyds Banking Group 10 247.4 13.1 0.2 3.4 (4.8) 235.5 13.2% 13.3% 192 (68) 29 (139) Market and other movements Common equity tier 1 ratio (%, bps) Q3 2026 RWAs Other 3 Dividend, buyback & acquisitions Banking build & Insurance dividend Q4 2025 Q3 2026 Credit / calibrations Optimisation Underlying lending 1 • RWAs £247.4bn, up £11.9bn YTD, up £5.6bn in Q3 o YTD increase reflects strong lending and market and other movements, partly offset by optimisation o Q3 increase driven by customer and bank lending with limited optimisation o Continue to expect c.£6 - 8bn positive day 1 impact from Basel 3.1 • Strong YTD capital generation of 153bps o 45bps in Q3, reflecting strong banking build • CET1 ratio 13.3% • Continue to expect 2026 capital generation to be >200bps and to pay down to c.13.0% CET1 by end 2026 Strong capital generation Risk weighted assets (£bn) 1 – Includes undrawn commitments, lending to banks, SRT amortisation and business mix. 2 – Shown on a pro forma basis. 3 – Other includes share - based payments and market volatility. Capital build 153bps Q4 202 5 2
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Lloyds Banking Group 11 Updated macroeconomic outlook CPI inflation 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Q2 26 Q4 26 Q2 27 Q4 27 Q2 28 Q4 28 Q2 29 Q4 29 Q2 30 Q4 30 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% Q2 26 Q4 26 Q2 27 Q4 27 Q2 28 Q4 28 Q2 29 Q4 29 Q2 30 Q4 30 GDP (Real - terms) • Modest economic uplift for the UK o Inflation averaging 3.1% in 2026, peaking in Q1 - 27 o Nov - 26 BBR increase (no increases previously forecast) o GDP growth of 1.3% in 2026, falling to 1.1% in 2027 o Unemployment peak of 5.3% in mid - 27 (was 5.5%) o HPI 0.7% in 2026, 1.7% in 2027 (was 1.9%) • Terminal rate assumption continues to be 3.50%, by 2028 • Resilient Group business model well placed to withstand macro uncertainty Unemployment 4.0% 4.5% 5.0% 5.5% 6.0% Q2 26 Q4 26 Q2 27 Q4 27 Q2 28 Q4 28 Q2 29 Q4 29 Q2 30 Q4 30 Q3’26 base case Q2 ’26 base case 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% Q2 26 Q4 26 Q2 27 Q4 27 Q2 28 Q4 28 Q2 29 Q4 29 Q2 30 Q4 30 UK Bank Rate
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Lloyds Banking Group 12 On track to meet our 2026 guidance Purpose Helping Britain Prosper Capital distribution Progressive and sustainable o rdinary dividend 2026 guidance Cost:income <50% CIR (Operating costs <£9.9bn) Asset quality ratio c.25bps RoTE > 16% Capital generation >200bps CET1 ratio target Pay down to c.13.0% Net interest income >£14.9bn
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Lloyds Banking Group Laying firm foundations for Accelerate 2030 Completing the current strategy… …and preparing for the next phase: Accelerate 2030 Accelerate through reimagined customer experiences , increased Group connectivity , and a productivity step - change , enabled by pioneering technology 13 Committed to continued income growth, improving operating leverage, stronger, sustainable returns and growing capital generation Strategic initiative revenues by FY 2026 c.£2bn OOI CAGR vs. 2021 (annualised) 8% Gross cost savings realised >£2bn New business unit established to unlock new, connected growth opportunities >95% of 2027 strategic investment spend prioritised to support delivery plans Mobilising the organisation Launched unique Upfront Interest fixed deposit product Increased RM hiring activity as part of refreshed Mid - Markets growth strategy Grow the core Lloyds Smart Wallet waitlist open since July, ahead of launch in Q4 Targeted Support in plan to be rolled out within InvestAI in Q4 1 Innovate to deepen & diversify Simplify to outperform Scaling AI use cases (e.g. income verification, complaint investigation, fraud) Top - 10 Evident AI rankings for Talent, Leadership and Transparency 1 – Subject to regulatory approval
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Q&A
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Appendix
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Lloyds Banking Group 16 Quarterly P&L and key ratios (£m) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Net interest income 3,806 3,709 3,569 3,529 3,451 3,361 3,294 3,276 Other income 1,686 1,705 1,605 1,594 1,557 1,517 1,452 1,433 Operating lease depreciation (420) (452) (389) (379) (365) (355) (355) (331) Net income 5,072 4,962 4,785 4,744 4,643 4,523 4,391 4,378 Operating costs (2,370) (2,402) (2,474) (2,585) (2,302) (2,324) (2,550) (2,450) Remediation (22) (28) (11) (56) (875) (37) - (775) Total costs (2,392) (2,430) (2,485) (2,641) (3,177) (2,361) (2,550) (3,225) Underlying profit before impairment 2,680 2,532 2,300 2,103 1,466 2,162 1,841 1,153 Impairment charge (313) (322) (295) (177) (176) (133) (309) (160) Underlying profit 2,367 2,210 2,005 1,926 1,290 2,029 1,532 993 Restructuring (17) (16) (18) (30) (7) (5) (4) (19) Volatility and other items (18) 74 38 87 (109) (37) (11) (150) Statutory profit before tax 2,332 2,268 2,025 1,983 1,174 1,987 1,517 824 Statutory profit after tax 1,712 1,568 1,555 1,435 778 1,410 1,134 700 Net interest margin 3.25% 3.22% 3.17% 3.10% 3.06% 3.04% 3.03% 2.97% Average interest earning assets £481.0bn £477.9bn £473.5bn £470.3bn £465.5bn £460.0bn £455.5bn £455.1bn Cost:income ratio 47.2% 49.0% 51.9% 55.7% 68.4% 52.2% 58.1% 73.7% Asset quality ratio 0.25% 0.26% 0.25% 0.14% 0.15% 0.11% 0.27% 0.14% Return on tangible equity 19.5% 17.0% 17.0% 15.7% 7.5% 15.5% 12.6% 7.1% Tangible net asset value per share 55.4p 57.0p 57.9p 57.0p 55.0p 54.5p 54.4p 52.4p
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Lloyds Banking Group 17 Updated economic scenarios Scenario ECL 1 (£m) Measure (%) 2026 2027 2028 2029 2030 Avg. 26 - 30 Upside (30%) 2,582 GDP growth 1.4 2.5 1.9 1.6 1.7 1.8 Unemployment rate 4.9 3.7 3.1 3.0 3.3 3.6 HPI growth 1.1 4.3 8.1 7.7 6.5 5.5 CRE price growth 0.7 8.3 4.4 2.7 1.3 3.5 UK Bank Rate 3.81 4.91 5.21 5.36 5.58 4.98 CPI inflation 3.1 3.3 1.9 2.6 3.0 2.8 Base case (30%) 2,969 GDP growth 1.3 1.1 1.3 1.5 1.7 1.4 Unemployment rate 5.0 5.3 5.0 4.7 4.7 4.9 HPI growth 0.7 1.7 2.2 2.9 3.6 2.2 CRE price growth (0.6) (0.4) 1.0 1.0 0.5 0.3 UK Bank Rate 3.81 4.00 3.63 3.50 3.50 3.69 CPI inflation 3.1 3.3 1.6 1.8 2.0 2.4 Downside (30%) 3,617 GDP growth 1.2 (0.8) 0.2 1.3 1.7 0.7 Unemployment rate 5.1 7.1 7.5 7.0 6.8 6.7 HPI growth 0.4 (1.3) (5.1) (3.8) (1.0) (2.2) CRE price growth (2.0) (10.3) (4.3) (2.4) (2.0) (4.3) UK Bank Rate 3.81 2.92 1.52 1.06 0.80 2.02 CPI inflation 3.1 3.2 1.2 0.8 0.7 1.8 Severe downside (10%) 5,031 GDP growth 1.0 (3.1) (0.8) 1.1 1.6 (0.1) Unemployment rate 5.4 9.5 10.4 9.7 9.2 8.8 HPI growth 0.0 (3.2) (12.4) (10.8) (6.4) (6.7) CRE price growth (4.0) (20.9) (10.2) (7.7) (5.7) (9.9) UK Bank Rate 3.81 1.53 0.16 0.04 0.01 1.11 CPI inflation 3.1 3.2 0.7 (0.4) (0.9) 1.1 Probability weighted 3,254 1 – Underlying basis.
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Lloyds Banking Group 18 Investor Relations contacts Douglas Radcliffe Group Investor Relations Director Douglas.Radcliffe@lloydsbanking.com Nora Thoden Director, Investor Relations – ESG Nora.Thoden@lloydsbanking.com Rohith Chandra - Rajan Director, Investor Relations Rohith.Chandra - Rajan@lloydsbanking.com Stefan Tutino Senior Manager, Investor Relations Stefan.Tutino@lloydsbanking.com
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Important notice The information, statements, views and opinions contained in this document and accompanying discussion (“this Presentation”) are for informational and reference purposes only . This Presentation has been provided by the Group (defined below) . This Presentation does not purport to be comprehensive nor render any form or type of advice (“Advice”) . No responsibility, liability or obligation (whether in tort, contract or otherwise) is accepted by the Group or any of its directors, officers, employees, agents or advisers (each an “Identified Person”) as to or in relation to this Presentation (including the fairness, accuracy, completeness or sufficiency thereof) or any other written or oral information made available (“Supplementary Information”) or any errors contained therein or omissions therefrom, and any such liability is expressly excluded to the extent permitted by law . No representations or warranties, express or implied, are given by any Identified Person as to, and no reliance should be placed on, the accuracy or completeness of any information contained in this Presentation and/or any Supplementary Information . For the avoidance of any doubt, this Presentation and/or Supplementary Information is not intended to, nor does it, constitute or form part of any Advice or promotional material for services offered by any Group entity . No identified Person undertakes, or is under any obligation, to provide any additional information, update, revise or supplement this Presentation and/or Supplementary Information or to remedy any inaccuracies in or omissions from this Presentation and/or Supplementary Information . Forward - looking statements This document contains certain forward - looking statements within the meaning of Section 21 E of the US Securities Exchange Act of 1934 , as amended, and section 27 A of the US Securities Act of 1933 , as amended, with respect to the business, strategy, plans and/or results of Lloyds Banking Group plc together with its subsidiaries (the Group) and its current goals and expectations . Statements that are not historical or current facts, including statements about the Group’s or its directors’ and/or management’s beliefs and expectations, are forward - looking statements . Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward - looking statements . These statements concern or may affect future matters, including but not limited to : projections or expectations of the Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk - weighted assets (RWAs), expenditures or any other financial items or ratios ; litigation, regulatory and governmental investigations ; the Group’s future financial performance ; the level and extent of future impairments and write - downs ; the Group’s ESG targets and/or commitments ; statements of plans, objectives or goals of the Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements . By their nature, forward - looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future . Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward - looking statements include, but are not limited to : general economic and business conditions in the UK and internationally (including in relation to tariffs) ; imposed and threatened tariffs and changes to global trade policies ; acts of hostility or terrorism and responses to those acts, or other such events ; geopolitical unpredictability ; the war between Russia and Ukraine ; the escalation of conflicts in the Middle East ; the tensions between China and Taiwan ; political instability including as a result of any UK general election ; market related risks, trends and developments ; changes in client and consumer behaviour and demand ; exposure to counterparty risk ; the ability to access sufficient sources of capital, liquidity and funding when required ; changes to the Group’s credit ratings ; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies ; volatility in credit markets ; volatility in the price of the Group’s securities ; natural pandemic and other disasters ; risks concerning borrower and counterparty credit quality ; risks affecting insurance business and defined benefit pension schemes ; changes in laws, regulations, practices and accounting standards or taxation ; changes to regulatory capital or liquidity requirements and similar contingencies ; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Group ; risks associated with the Group’s compliance with a wide range of laws and regulations ; assessment related to resolution planning requirements ; risks related to regulatory actions which may be taken in the event of a bank or Group failure ; exposure to legal, regulatory or competition proceedings, investigations or complaints ; failure to comply with anti - money laundering, counter terrorist financing, anti - bribery and sanctions regulations ; failure to prevent or detect any illegal or improper activities ; operational risks including risks as a result of the failure of third party suppliers ; conduct risk ; risks related to new and emerging technologies, including artificial intelligence ; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks ; technological failure ; inadequate or failed internal or external processes or systems ; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Group’s ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues ; the impact of competitive conditions ; failure to attract, retain and develop high calibre talent ; the ability to achieve strategic objectives ; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions ; inability to capture accurately the expected value from acquisitions ; assumptions and estimates that form the basis of the Group’s financial statements ; and potential changes in dividend policy . A number of these influences and factors are beyond the Group’s control . Please refer to the latest Annual Report on Form 20 - F filed by Lloyds Banking Group plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC’s website at www . sec . gov, for a discussion of certain factors and risks . Lloyds Banking Group plc may also make or disclose written and/or oral forward - looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Banking Group plc to third parties, including financial analysts . Except as required by any applicable law or regulation, the forward looking statements contained in this document are made as of today’s date, and the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward - looking statements contained in this document whether as a result of new information, future events or otherwise . The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments . Lloyds Banking Group 19 Lloyds Banking Group Disclaimer