Lloyds Banking Group Plc · LSE:LLOY
Lloyds Banking — Debt Investor Presentation (October 2025)
26 slides from Lloyds Banking's debt investor presentation, Oct 23, 2025
Slide 1: Q3 2025 Results Fixed Income Presentation
2024 Results Lloyds Banking Group 20th February 2025 Q3 2025 Results Fixed Income Presentation Lloyds Banking Group 23 October 2025 1
Slide 2: Leading UK digital bank and integrated financial services provider
Leading UK digital bank and integrated financial services provider Lloyds Banking Group Retail Commercial Insurance, Pensions & Business & Corporate & Investments Consumer Consumer Commercial Institutional Relationships Lending Banking Banking • Current accounts • Mortgages • Business loans • Lendin
Slide 3: Continuing to deliver; confident in our outlook
Continuing to deliver; confident in our outlook Purpose Continued strategic delivery for customers and wider stakeholders Helping Robust financial performance, with strong capital generation Britain Prosper 2025 guidance improved excluding Q3 motor finance charge; confident in 2026 Lloyds Banking Gr
Slide 4: Continued strategic progress
Continued strategic progress Comprehensive offering: c.£17bn AuA, >300 advisors, 60k clients Full acquisition of Schroders Compelling rationale: Differentiated, integrated banking and investment proposition Personal Wealth Re-branding to Lloyds Wealth and scaling: To >3m mass affluent and >4m workpl
Slide 5: Financial update
Financial update
Slide 6: Robust financial performance
Robust financial performance Financial performance (£m) Q3 2025 Q3 2024 YoY Q3 vs Q2 YTD YTD % 2025 2025 % Net interest income 10,106 9,569 6 3,451 3 • YTD stat PAT £3.3bn; RoTE 11.9% (14.6% excl. motor Other income 4,526 4,164 9 1,557 3 provision) Operating lease depreciation (1,075) (994) (8) (365
Slide 7: Continued strength in customer franchise
Continued strength in customer franchise Q3 lending change (£bn) Q3 deposit change (£bn) Retail Commercial Retail Commercial +£5.1bn/+1% +£1.3bn/+1% +£0.3bn/+0% +£2.4bn/+1% • Lending £477.1bn, up £6.1bn in Q3; up £18bn / 4% YTD o Mortgages up £3.1bn QoQ 3.1 o Continued growth in Cards, Loans, Motor,
Slide 8: Sustained growth in NII
Sustained growth in NII Net interest income and banking net interest margin (£bn, bps) £3.36bn £3.45bn 4 1 (2) (1) 306 304 • YTD NII £10.1bn, up 6% YoY • Q3 NII £3.5bn, up 7% YoY, up 3% QoQ Q2 2025 Structural hedge Mortgages Deposits Funding, capital & Q3 2025 other o NIM 306bps, up 2bps QoQ, driven
Slide 9: Broad based momentum in OOI
Broad based momentum in OOI Other Income (£m) + 9% YoY + 9% 2-year CAGR • YTD OOI £4.5bn, up 9% YoY 1,557 • Q3 OOI £1.6bn, up 9% YoY, up 3% QoQ; broad based 1,517 1,340 1,394 1,430 1,433 1,452 momentum 1,299 1,286 o Strength in Motor, General Insurance and LBG Equity Investments Q3 2023 Q4 2023 Q1 2
Slide 10: Ongoing cost discipline
Ongoing cost discipline Operating costs (£bn) + 3% (+2% excl. severance) 0.2 0.2 0.2 7.2 7.0 • YTD operating costs £7.2bn, up 3% YoY (0.4) o Excluding increased severance taken YTD, up 2% YoY o Includes impact of NIC changes, equivalent to c.£0.1bn Q3 2024 YTD Cost savings Pay & inflation Investment
Slide 11: Motor finance commissions update
Motor finance commissions update Motor finance provision (£m) Total provision: 1,950 800 New additional provision • £800m provision in Q3 2025 reflects FCA consultation proposals announced 7 October o Proposals represent adverse end of previously modelled 1,150 Previous provision scenarios o More ca
Slide 12: Strong asset quality
Strong asset quality Impairment (£m) Q3 2025 Q3 2024 YoY Q3 QoQ YTD YTD £m 2025 £m Charge (credit) pre updated MES1 591 597 6 140 37 Retail 627 592 (35) 201 21 Commercial Banking (36) 16 52 (61) 15 Other - (11) (11) - 1 • Strong asset quality, reflecting prudent lending and healthy customer behaviou
Slide 13: Continuing to deliver; confident in our outlook
Continuing to deliver; confident in our outlook Continued strategic delivery for customers and wider stakeholders Robust financial performance, with strong capital generation 2025 guidance improved excluding Q3 motor finance charge; confident in 2026 2025 2025 (excl. motor) 2026 Net interest income
Slide 14: Capital, Funding & Liquidity
Capital, Funding & Liquidity
Slide 15: Prudent Capital Ratios
Prudent Capital Ratios 13.8% CET1 following strong YTD 110bps capital generation, UK leverage ratio1 not binding for LBG with significant inclusive of motor provision headroom above requirement UK Leverage Reg c.75bps c.360bps Requirement 1.7% 4.45% 0.6% MDA 10.2%2 1.8% 0.6% OSII Group leverage 2.5%
Slide 16: Strong capital generation
Strong capital generation Risk weighted assets (£bn) 2.3 9.3 - (0.5) (3.4) 232.3 224.6 • RWAs £232.3bn, up £7.7bn YTD, up £0.9bn QoQ o Strength in lending partly offset by optimisation 2024 Underlying Credit / CRD IV1 Market risk Optimisation Q3 2025 • Strong YTD capital generation: 110bps (141bps e
Slide 17: Diversified deposit base and robust liquidity portfolio
Diversified deposit base and robust liquidity portfolio Deposits have steadily increased since 2020 driven primarily Liquidity ratios remain comfortably above requirements by Retail growth (£bn)1 476 475 471 483 497 451 168 164 163 163 173 170 101 102 145% 112 114 103 126% 97 100% 184 196 197 206 21
Slide 18: 2025 wholesale issuance well progressed
2025 wholesale issuance well progressed 2025 Completed YTD Issuance detail Mar €1bn 11NC10 G €750m 3NC2 • HoldCo Senior and Capital issuance complete for 2025 and May CHF235m 6NC5 G in line with guidance HoldCo ~£4.1bn May £750m 6.5NC5.5 o Refinancing maturities across core and non-core Senior Guida
Slide 19: Strong ratings reaffirmed across the Group
Strong ratings reaffirmed across the Group Ring-fenced Non-ring- Lloyds Banking Group bank fenced bank ESG Ratings1,3 Lloyds Bank, Credit Ratings1 UK Sovereign LBG HoldCo2 LBG Tier 2 LBG AT1 LBCM BoS S&P CSA S&P HoldCo ratings upgraded by one notch in September 2025 63 60 A- A+ A AA BBB BB 55 S&P St
Slide 20: Appendix
Appendix
Slide 21: Simple group structure with multiple issuance points
Simple group structure with multiple issuance points HoldCo Lloyds Banking Group A-/ A3 / A+1 A-2 / P-2 / F1 Sta / Sta / Sta Senior Unsecured - Capital Ring-fenced Sub-Group Non-Ring-fenced Sub-Group Insurance Sub-Group Equity Investments Sub-Group Lloyds Bank, Bank of Lloyds Bank Corporate Scottish
Slide 22: Diverse funding portfolio as at Q3 2025
Diverse funding portfolio as at Q3251 Wholesale funding portfolio by type Wholesale funding portfolio by currency 12% 6% MM Funding Covered Bond 20% 33% 24% Securitisation OpCo Senior £103.5bn GBP USD EUR Other 28% £103.5bn 10% HoldCo Senior Sub Debt 11% 6% 49% Wholesale funding portfolio by maturit
Slide 23: Quarterly P&L and key ratios
Quarterly P&L and key ratios (£m) Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Net interest income 3,451 3,361 3,294 3,276 3,231 3,154 3,184 3,317 3,444 Other income 1,557 1,517 1,452 1,433 1,430 1,394 1,340 1,286 1,299 Operating lease depreciation (365) (355) (355) (331)
Slide 24: Updated economic scenarios
Updated economic scenarios Scenario ECL (£m) Measure (%) 2025 2026 2027 2028 2029 Ave. 25-29 GDP 1.4 1.9 1.9 1.6 1.5 1.6 Unemployment rate 4.6 3.7 3.2 3.1 3.1 3.6 HPI growth 1.1 4.8 7.0 6.3 5.5 4.9 Upside (30%) 2,656 CRE price growth 2.7 7.5 3.7 2.4 1.4 3.5 UK Bank Rate 4.19 4.30 4.72 4.95 5.12 4.66
Slide 25: Contacts
Contacts Debt Investor Relations Group Investor Relations Sergio Afonso Douglas Radcliffe Group Investor Relations Director Group Corporate Treasury Director +44 (0)20 7356 1571 Sergio.Afonso2@lloydsbanking.com Douglas.Radcliffe@lloydsbanking.com Kris Middleton Nora Thoden Director, Investor Relatio
Slide 26: Disclaimer
Disclaimer 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 pur
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