EXPLANATORY NOTE
This report on Form 6-K, which includes the unaudited consolidated results of Lloyds Banking Group plc for the
three months ended 31 March 2026, is being incorporated by reference into the Registration Statement with File
No. 333-287829.
FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities
Exchange Act of 1934, as amended, and section 27A 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.
