Original filing text · Part I

Item 11 — Quantitative and Qualitative Disclosures About Market Risk

Lloyds Banking Group Plc · 20-F · FY 2025 · Period ended Dec 31, 2025

This is the extracted source text from the SEC filing. Formatting may differ from the original document.

Reference is made to the sections titled: •“Credit Risk” on pages 15 to 21; •“Market Risk” on pages 187 to 193 of the Annual Report 2025; and •“Note 39: Financial risk management” on page 294 of the Annual Report 2025 for information on market risk. Reference is made to the “Loan portfolio” section under Item 4.B - “Business overview” on page 6. 29 Lloyds Banking Group plc Annual Report on Form 20-F 2025 Part I continued