LYG vs PFX

LYG Core

Annual filing released 2025-02-20 · GPT 6 Luna

Lloyds Banking Group is a leading provider of financial services to individual and business customers in the UK. At 31 December 2024, Lloyds Banking Group’s total assets were £906,697 million and Lloyds Banking Group had 61,228 employees (on a full-time equivalent basis). Lloyds Banking Group’s market capitalisation at that date was £33,202 million. The Group reported a profit before tax for the year ended 31 December 2024 of £5,971 million, and its capital ratios at that date were 14.2 per cent for common equity tier 1 capital, 16.6 per cent for tier 1 capital and 19.0 per cent for total capital. Lloyds Banking Group’s main business activities are retail and commercial banking and long-term savings, protection and investment and it operates primarily in the UK.

Divisional information The Group’s financial reporting segments are differentiated by the type of products provided and by whether the customers are individuals or corporate entities. At 31 December 2024, the Group’s three primary operating divisions, which are also its financial reporting segments, were: Retail; Commercial Banking; and Insurance, Pensions and Investments. Retail offers a broad range of financial services products to personal customers, including current accounts, savings, mortgages, credit cards, unsecured loans, motor finance and leasing solutions. Commercial Banking serves small and medium businesses and corporate and institutional clients, providing lending, transactional banking, working capital management, debt financing and risk management services whilst connecting the whole Group to clients.

PFX Material

Annual filing released 2025-12-12 · GPT 6 Luna

The Company’s investment objective is to generate current income and capital appreciation. The management team seeks to achieve this objective primarily through making loans and private equity investments in privately-held companies. The Company may also make debt, equity or other investments in publicly-traded companies. (These investments may also include investments in other BDCs, closed-end funds or real estate investment trusts (“REITs”).) We also pursue other strategic opportunities and invest in other assets or operate other businesses to achieve our investment objective, such as operating and managing an asset-based lending business and an insurance business. The portfolio generally consists of senior secured first lien term loans, senior secured second lien term loans, senior secured bonds, preferred equity and common equity.

We believe there are attractive opportunities in the private debt market for non-bank investors like the Company. We lend directly to many companies that are underserved by the traditional banking system and generally seek to avoid broadly marketed investment opportunities. We also believe there are attractive private equity investment opportunities. We source investment opportunities primarily through direct relationships with financial sponsors and other market participants, industry specialists, as well as financial intermediaries such as investment banks and commercial banks.

LYG Core

Annual filing released 2025-02-20 · GPT 6 Luna

Lloyds Banking Group is a leading provider of financial services to individual and business customers in the UK. At 31 December 2024, Lloyds Banking Group’s total assets were £906,697 million and Lloyds Banking Group had 61,228 employees (on a full-time equivalent basis). Lloyds Banking Group’s market capitalisation at that date was £33,202 million. The Group reported a profit before tax for the year ended 31 December 2024 of £5,971 million, and its capital ratios at that date were 14.2 per cent for common equity tier 1 capital, 16.6 per cent for tier 1 capital and 19.0 per cent for total capital. Lloyds Banking Group’s main business activities are retail and commercial banking and long-term savings, protection and investment and it operates primarily in the UK.

Divisional information The Group’s financial reporting segments are differentiated by the type of products provided and by whether the customers are individuals or corporate entities. At 31 December 2024, the Group’s three primary operating divisions, which are also its financial reporting segments, were: Retail; Commercial Banking; and Insurance, Pensions and Investments. Retail offers a broad range of financial services products to personal customers, including current accounts, savings, mortgages, credit cards, unsecured loans, motor finance and leasing solutions. Commercial Banking serves small and medium businesses and corporate and institutional clients, providing lending, transactional banking, working capital management, debt financing and risk management services whilst connecting the whole Group to clients.

PFX Core

Annual filing released 2025-12-12 · GPT 6 Luna

PhenixFIN Corporation (“PhenixFIN”, the “Company,” “we” and “us”) is an internally-managed non-diversified closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). We completed our initial public offering (“IPO”) and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). Through December 31, 2020, we were an externally managed company. Since January 1, 2021, we have operated under our present internalized management structure.

The Company’s investment objective is to generate current income and capital appreciation. The management team seeks to achieve this objective primarily through making loans and private equity investments in privately-held companies. The Company may also make debt, equity or other investments in publicly-traded companies. (These investments may also include investments in other BDCs, closed-end funds or real estate investment trusts (“REITs”).) We also pursue other strategic opportunities and invest in other assets or operate other businesses to achieve our investment objective, such as operating and managing an asset-based lending business and an insurance business. The portfolio generally consists of senior secured first lien term loans, senior secured second lien term loans, senior secured bonds, preferred equity and common equity.

LYG Material

Annual filing released 2025-02-20 · GPT 6 Luna

Divisional information The Group’s financial reporting segments are differentiated by the type of products provided and by whether the customers are individuals or corporate entities. At 31 December 2024, the Group’s three primary operating divisions, which are also its financial reporting segments, were: Retail; Commercial Banking; and Insurance, Pensions and Investments. Retail offers a broad range of financial services products to personal customers, including current accounts, savings, mortgages, credit cards, unsecured loans, motor finance and leasing solutions. Commercial Banking serves small and medium businesses and corporate and institutional clients, providing lending, transactional banking, working capital management, debt financing and risk management services whilst connecting the whole Group to clients.

Insurance, Pensions and Investments offers insurance, investment and pension management products and services. The Group Executive Committee, which is the chief operating decision maker for the Group, reviews the Group’s internal reporting based around these segments (which reflect the Group’s organisational and management structures) in order to assess performance and allocate resources; this reporting is on an underlying basis. IFRS 8 Operating Segments requires that the Group presents its segmental profit before tax on the basis reviewed by the chief operating decision maker that is most consistent with the measurement principles used in measuring the Group’s statutory profit before tax. Accordingly, the Group presents its segmental underlying profit before tax in “Note 4: Segmental analysis” on pages 229 to 233 of the Annual Report 2024 (tagged), in compliance with IFRS 8.

PFX Material

Annual filing released 2025-12-12 · GPT 6 Luna

The Company has invested in its affiliate, NVTN LLC, which is a restaurant concept with locations throughout the US, mostly in budget friendly tourist destinations. NVTN LLC has developed an identifiable brand for its high-energy, unique themed restaurant concept that targets tourists and business travelers in high foot traffic locations. On October 1, 2024, the Company acquired approximately 80% of the equity of The National Security Group, an Alabama based insurance holding company (“NSG”). NSG is a nationwide underwriter of life, accident, and health insurance. In addition, NSG is a specialty underwriter of property and casualty insurance throughout the southeast, other than Florida and Louisiana. The Company has entered into a contract with NSG to manage a portion of its investment assets. 3 Managerial Assistance

LYG Material

Annual filing released 2025-02-20 · GPT 6 Luna

C.Organizational structure The Company is the holding company of the Lloyds Banking Group, which consists of the Company and its subsidiaries. The following subsidiaries are disclosed as principal subsidiaries on page 83; the list below includes all significant subsidiaries, and certain other subsidiaries as noted below, of the Company at 31 December 2024. Name of subsidiary undertaking Country of registration/ incorporation Percentage of equity share capital and voting rights held Nature of business Registered office Lloyds Bank plc England 100% Banking and financial services 25 Gresham Street, London EC2V 7HN Scottish Widows Limited England 100%* Life assurance 25 Gresham Street, London EC2V 7HN HBOS plc Scotland 100%* Holding company The Mound, Edinburgh EH1 1YZ Bank of Scotland plc Scotland 100%* Banking and financial services

PFX Material

Annual filing released 2025-12-12 · GPT 6 Luna

The Company has invested in its affiliate, NVTN LLC, which is a restaurant concept with locations throughout the US, mostly in budget friendly tourist destinations. NVTN LLC has developed an identifiable brand for its high-energy, unique themed restaurant concept that targets tourists and business travelers in high foot traffic locations. On October 1, 2024, the Company acquired approximately 80% of the equity of The National Security Group, an Alabama based insurance holding company (“NSG”). NSG is a nationwide underwriter of life, accident, and health insurance. In addition, NSG is a specialty underwriter of property and casualty insurance throughout the southeast, other than Florida and Louisiana. The Company has entered into a contract with NSG to manage a portion of its investment assets. 3 Managerial Assistance

LYG Material

Annual filing released 2025-02-20 · GPT 6 Luna

Insurance, Pensions and Investments offers insurance, investment and pension management products and services. The Group Executive Committee, which is the chief operating decision maker for the Group, reviews the Group’s internal reporting based around these segments (which reflect the Group’s organisational and management structures) in order to assess performance and allocate resources; this reporting is on an underlying basis. IFRS 8 Operating Segments requires that the Group presents its segmental profit before tax on the basis reviewed by the chief operating decision maker that is most consistent with the measurement principles used in measuring the Group’s statutory profit before tax. Accordingly, the Group presents its segmental underlying profit before tax in “Note 4: Segmental analysis” on pages 229 to 233 of the Annual Report 2024 (tagged), in compliance with IFRS 8.

PFX Not tagged

Annual filing released 2025-12-12 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

LYG Material

Annual filing released 2025-02-20 · GPT 6 Luna

Insurance, Pensions and Investments Insurance, Pensions and Investments (IP&I) supports over 10 million customers, with a number one ranking in Home Insurance new policy share, a number two ranking in UK defined contribution Workplace provision, and a top three position for Individual Annuities provision with annualised annuity payments of over £0.9 billion. Total Assets under administration (AuA) are £232 billion (excluding Wealth). The Group continues to invest significantly into IP&I to develop the business, including the investment propositions to support the Group’s Mass Affluent strategy, digitisation, innovating intermediary propositions and accelerating the transition to a low carbon economy. 2024 £m 2023 £m Change % Underlying net interest income (136) (132) 3 Underlying other income 1,292 1,209 7 Underlying income 1,156 1,077 7

PFX Not tagged

Annual filing released 2025-12-12 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

LYG Material

Annual filing released 2025-02-20 · GPT 6 Luna

Divisional information The Group’s financial reporting segments are differentiated by the type of products provided and by whether the customers are individuals or corporate entities. At 31 December 2024, the Group’s three primary operating divisions, which are also its financial reporting segments, were: Retail; Commercial Banking; and Insurance, Pensions and Investments. Retail offers a broad range of financial services products to personal customers, including current accounts, savings, mortgages, credit cards, unsecured loans, motor finance and leasing solutions. Commercial Banking serves small and medium businesses and corporate and institutional clients, providing lending, transactional banking, working capital management, debt financing and risk management services whilst connecting the whole Group to clients.

The increase in average loans and advances to customers was driven by higher average interest-earning assets in Retail which of £370,128 million (2023: £365,632 million), with growth across products partly offset by the impact of securitisations in the year. Other income 2024 £m 2023 £m Change % Fee and commission income: Current accounts 644 624 3 Credit and debit card fees 1,286 1,264 2 Commercial banking and treasury fees 373 334 12 Unit trust and insurance broking 71 69 3 Factoring 69 75 (8) Other fees and commissions 500 560 (11) Total fee and commission income 2,943 2,926 1 Fee and commission expense (1,184) (1,095) 8 Net fee and commission income 1,759 1,831 (4) Net trading income 17,825 18,049 (1) Insurance revenue 3,291 3,008 9 Insurance service expense (2,733)

PFX Not tagged

Annual filing released 2025-12-12 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

LYG Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

PFX Material

Annual filing released 2025-12-12 · GPT 6 Luna

The Company has invested in its affiliate, NVTN LLC, which is a restaurant concept with locations throughout the US, mostly in budget friendly tourist destinations. NVTN LLC has developed an identifiable brand for its high-energy, unique themed restaurant concept that targets tourists and business travelers in high foot traffic locations. On October 1, 2024, the Company acquired approximately 80% of the equity of The National Security Group, an Alabama based insurance holding company (“NSG”). NSG is a nationwide underwriter of life, accident, and health insurance. In addition, NSG is a specialty underwriter of property and casualty insurance throughout the southeast, other than Florida and Louisiana. The Company has entered into a contract with NSG to manage a portion of its investment assets. 3 Managerial Assistance

LYG Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

PFX Material

Annual filing released 2025-12-12 · GPT 6 Luna

The Company has invested in its affiliate, NVTN LLC, which is a restaurant concept with locations throughout the US, mostly in budget friendly tourist destinations. NVTN LLC has developed an identifiable brand for its high-energy, unique themed restaurant concept that targets tourists and business travelers in high foot traffic locations. On October 1, 2024, the Company acquired approximately 80% of the equity of The National Security Group, an Alabama based insurance holding company (“NSG”). NSG is a nationwide underwriter of life, accident, and health insurance. In addition, NSG is a specialty underwriter of property and casualty insurance throughout the southeast, other than Florida and Louisiana. The Company has entered into a contract with NSG to manage a portion of its investment assets. 3 Managerial Assistance