Commentary & Deal Flow

Reoffer: 5yr: SONIA+52bp / 100%

5yr: Final Books over £1.55bn. Peak book over £1.6bn (pre-reconciliation)

Launched: 5yr: £1.25bn @ SONIA+52bp - Books over £1.6bn
Spread set at: 5yr: SONIA+52bp - Books over £1.5bn
Book Update: Books over £1.5bn
Guidance: 5yr: SONIA+56a

• Issuer: Lloyds Bank plc
• Ticker: LLOYDS
• Issuer LEI: H7FNTJ4851HG0EXQ1Z70
• Guarantor: Lloyds Bank Covered Bonds LLP
• Guarantor LEI: 213800FRI978XP6HTZ13
• Expected Issue Rating: Aaa (Moody's) / AAA (Fitch)
• Format: Reg S, Bearer, UK Regulated Covered Bond
• Size: £1.25bn
• Tenor: 5yr
• Trade Date: 3-Nov-26
• Issue Date: 10-Nov-26 (T+5)
• Maturity: 10-Nov-31 (soft bullet)
• Coupon: SONIA+52bps, Floating, Compounded Daily SONIA, 5 day lag, Quarterly, ACT/365F
• Business Day Convention: Modified Following
• Reoffer / Reoffer Price: SONIA+52 / 100%
• Documentation: Lloyds Bank plc €60bn Global Covered Bond Programme base prospectus dated 4-Aug-26 as supplemented on 29-Oct-26
• Listing/Governing Law: London (Main Market) / English
• Denominations: £100k + 1k
• ISIN/Common Code: XS3557860486 / 355786048
• Joint Lead Managers: Lloyds (B&D), Barclays, BBVA, LBBW and TD Securities
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities. Details of the fee may be made available on request to investors participating in the transaction
• Selling Restrictions: Reg S (Category 2), TEFRA D. No sales to EEA or UK retail
• Target Market: Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No CCI disclosure document has been prepared as not available to retail in the UK. No EU PRIIPs key information document (KID) has been prepared as not available to retail in the EEA
• Timing: Priced / TOE 13:22 UKT / FTT 13:45 UKT