19 November 2025

LLOYDS BANKING GROUP TO ACQUIRE CURVE

Lloyds Banking Group is today announcing the acquisition of Curve, a London based fintech operating an innovative digital wallet platform. The acquisition of Curve is a strategic move to broaden and accelerate Lloyds Banking Group's digital transformation.

Curve operates a pioneering digital wallet platform that brings all cards and alternative payment sources into one secure platform while adding innovative money-saving and loyalty features. Authorised and regulated in the UK and EEA, Curve processes billions in payments annually through its technology platform alongside continuing to drive innovation in digital finance.

Alongside the services that Curve currently offers to customers, the integration of Curve Pay, Curve's cutting-edge technology and digital wallet, into Lloyds Banking Group's current digital offering, will allow Lloyds Banking Group to offer its customers an enhanced payments experience within mobile banking. The combination will provide our customers with expanded payment flexibility and access to advanced digital wallet features including switching past purchases across accounts, earning rewards on top of existing card benefits, accessing Pay Later solutions, and avoiding foreign exchange fees from any card linked to its app. This will provide Lloyds Banking Group's customers with even greater control and personalised ways to manage their money.

Our investment in this London-based fintech marks another significant milestone in the Group's strategy to deliver market-leading digital experiences and thereby empower our 28 million customers via the Group's digital offering.

The acquisition is expected to complete in the first half of 2026, subject to regulatory approval. From a financial perspective, including capital impact, the transaction is not expected to have a material impact on the Group, or to impact full year guidance for 2025 or 2026.

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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)77 8835 2487

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 Lloyds Banking Group plc together with its subsidiaries (the Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Group's or its directors' and/or management's beliefs and expectations, are forward-looking statements. 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A number of these influences and factors are beyond the Group's control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Banking Group plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC's website at www.sec.gov, for a discussion of certain factors and risks. Lloyds Banking Group plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Banking Group plc 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 whether as a result of new information, future events or otherwise. 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