Company Announcements

            12 March 2021

HBOS plc Annual Report and Accounts for the year endED 31 December 2020

In accordance with Listing Rule 9.6.1, HBOS plc has submitted today the above document to the National Storage Mechanism.

The document will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

In fulfilment of its obligations under section 6.3.5 of the Disclosure and Transparency Rules, HBOS plc hereby releases the unedited full text of its 2020 Annual Report and Accounts.

A copy of the document is also available through the 'Financial downloads' page within the 'Investors' section of the Lloyds Banking Group plc website at www.lloydsbankinggroup.com

-END-

For further information:

Investor Relations

Douglas Radcliffe                                                                                                  +44 (0)20 7356 1571

Group Investor Relations Director

douglas.radcliffe@lloydsbanking.com

Corporate Affairs

Matt Smith                                                                                                             +44 (0)20 7356 3522

Head of Media Relations

matt.smith@lloydsbanking.com

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 HBOS plc together with its subsidiaries (the Group) and its current goals and expectations relating to its future financial condition and performance. Statements  that are not historical facts, including statements  about the Group's or its directors' and/or management's  beliefs and expectations, are forward looking statements. Words such as 'believes', 'achieves', 'anticipates', 'estimates', 'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'may', 'seek', 'estimate' and variations of these words and similar future or conditional expressions are intended to identify forward looking statements  but are not the exclusive means  of identifying such statements. Examples of such forward looking statements  include, but are not limited to, statements  or guidance relating 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; statements  of plans,  objectives or goals of the Group or its management including in respect of statements  about the future business  and economic environments in the UK and elsewhere including, but not limited to, future trends in interest rates, foreign exchange rates, credit and equity market levels and demographic developments; statements  about competition, regulation, disposals and consolidation or technological developments in the financial services industry; 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, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward looking statements  made by the Group or on its behalf include, but are not limited to: general economic and business  conditions in the UK and internationally; market related trends and developments; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; any impact of the transition from IBORs to alternative reference rates; the ability to access  sufficient sources of capital, liquidity and funding when required; changes  to the credit ratings of the Group or any of the Group's immediate or ultimate parent entities (if applicable);  the ability to derive cost savings and other benefits including, but without limitation as a result of any acquisitions,  disposals and other strategic transactions;  the ability to achieve strategic objectives; the Group's ESG targets and/or commitments;  changing customer  behaviour including consumer  spending,  saving and borrowing habits;  changes  to borrower or counterparty credit quality impacting the recoverability and value of balance  sheet assets;  concentration of financial exposure; management and monitoring of conduct risk; exposure to counterparty risk (including but not limited to third parties conducting illegal activities without the Group's knowledge); instability in the global financial markets, including Eurozone instability, instability as  a result of uncertainty  surrounding  the  exit by the  UK from the  European  Union (EU), the  EU-UK Trade and Cooperation Agreement, and as a result of such exit and the potential for other countries to exit the EU or the Eurozone and the impact of any sovereign credit rating downgrade or other sovereign financial issues; political instability including as a result of any UK general election and any further possible referendum on Scottish independence; 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; natural, pandemic (including but not limited to the COVID-19 pandemic)  and other disasters,  adverse weather and similar contingencies outside the control of the Group or any of the Group's immediate or ultimate parent entities (if applicable); inadequate  or failed internal or external processes  or systems;  acts of war, other acts of hostility, terrorist acts and responses  to those acts, or other such events; geopolitical unpredictability; risks relating to climate change; changes in laws, regulations, practices and accounting standards  or taxation, including as a result of the UK's exit from the EU; changes to regulatory capital or liquidity requirements (including regulatory measures  to restrict distributions to address potential capital and liquidity stress) and similar contingencies  outside the control of the Group or any of the Group's immediate or ultimate parent entities (if applicable); the policies, decisions and actions of governmental or regulatory authorities or courts in the UK, the EU, the US or elsewhere including the implementation and interpretation of key laws, legislation and regulation together with any resulting impact on the future structure of the Group; the ability to attract and retain senior management and other employees and meet its diversity objectives; actions or omissions by the Group's directors, management or employees including industrial action; changes to the Group's post-retirement defined benefit scheme obligations; the extent of any future impairment charges or write-downs caused by, but not limited to, depressed asset  valuations, market disruptions and illiquid markets; the value and effectiveness of any credit protection purchased  by the Group; the inability to hedge certain risks economically; the adequacy  of loss reserves;  the actions  of competitors,  including non-bank  financial services, lending companies  and  digital innovators and  disruptive technologies;  and  exposure  to regulatory or competition scrutiny, legal, regulatory or competition  proceedings,  investigations  or complaints.  Please refer to the latest Annual Report on Form 20-F filed by Lloyds Banking Group plc with the US Securities and Exchange Commission for a discussion of certain factors and risks. Lloyds Banking Group may also make or disclose written and/or oral forward looking statements  in reports filed with or furnished to the US Securities and Exchange Commission, Lloyds Banking Group annual reviews, half-year announcements, proxy statements, offering circulars, prospectuses, press releases and other written materials and in oral statements  made by the directors, officers or employees of Lloyds Banking Group 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  to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances  on which any such statement  is based. 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.