Lloyds Regulatory News (LLOY)

23 September 2021

LLOYDS BANKING GROUP PLC: BOARD AND COMMITTEE CHANGES

Lloyds Banking Group plc announces that Nick Prettejohn and Stuart Sinclair have informed the Board of their intention to step down as Non-Executive Directors of the Group.

Nick Prettejohn intends to step down as a Non-Executive Director and as Chair of Scottish Widows Group on 30 September 2021, after more than seven years on the Board. Nick, who is also a Member of the Audit Committee, the Board Risk Committee, and the Nomination and Governance Committee, is leaving to take up the position of Chair at TSB Bank plc subject to regulatory approval. Sophie O'Connor, a Non-Executive Director of Scottish Widows Group, will succeed Nick as interim Chair of Scottish Widows Group subject to regulatory approval.

Stuart Sinclair, a Non-Executive Director and Chair of the Remuneration Committee, has notified the Board that he will retire from the Board at the 2022 Annual General Meeting. Alan Dickinson has been appointed as Chair of the Remuneration Committee, subject to regulatory approval, with effect from 24 November 2021. Alan has served as a member of the Remuneration Committee since July 2015 and will continue in his role as Deputy Chair and Senior Independent Director. Until he leaves the Board, Stuart will continue to be a member of the Remuneration Committee alongside his roles as a member of the Nomination and Governance and Responsible Business Committees.

Robin Budenberg, Group Chair, said: "I would like to thank both Nick and Stuart for the leadership and wisdom they have brought to the Board. We have greatly valued their insight and counsel. I am very grateful to Nick for his long service as Chair of Scottish Widows Group and I would like to thank Stuart for chairing the Remuneration Committee over the past three years. They both leave with our best wishes for the future. I am grateful to Alan and Sophie for taking on these roles."

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