Notice to Holders
Lehman Brothers UK Capital Funding LP
€225,000,000
Fixed Rate to CMS-Linked Guaranteed Non-Voting, Non-Cumulative Perpetual Preferred
Securities
XS0215349357
Lehman Brothers UK Capital Funding II LP
€250,000,000
Euro Fixed Rate Guaranteed Non-Voting, Non-Cumulative Perpetual Preferred Securities
XS0229269856
Lehman Brothers UK Capital Funding III LP
€500,000,000
Fixed/Floating Rate Enhanced Capital Advantaged Preferred Securities
XS0243852562
29 November 2023
Notice of Interim Payment
Reference is made to:
(i) the €225,000,000 Fixed Rate to CMS-Linked Guaranteed Non-Voting, Non-Cumulative Perpetual
Preferred Securities issued by Lehman Brothers UK Capital Funding LP (the "Issuer" or “LP I”) with ISIN
number XS0215349357 pursuant to a prospectus dated 29 March 2005 (the "LP I Prospectus");
(ii) the €250,000,000 Euro Fixed Rate Guaranteed Non-Voting, Non-Cumulative Perpetual Preferred
Securities issued by Lehman Brothers UK Capital Funding II LP (the "Issuer" or “LP II”) with ISIN number
XS0229269856 pursuant to a prospectus dated 30 August 2005 (the "LP II Prospectus"); and
(iii) the €500,000,000 Fixed/Floating Rate Enhanced Capital Advantaged Preferred Securities issued by
Lehman Brothers UK Capital Funding III LP (the “Issuer”) or “LP III”) pursuant to a prospectus dated 20
February 2006 (the "LP III Prospectus" and together with the LP I Prospectus and the LP II Prospectus, the
"Prospectuses” and each a "Prospectus").
hereinafter referred to as the "Securities". Reference hereinafter to “the Issuers” is reference to LP I, LP II
and LP III.
Capitalised terms used but not otherwise defined herein shall have the meanings ascribed to them in each
Prospectus (as applicable).
Interim Payment: an initial interim payment will be paid for value on 8 December 2023 relating to the
Liquidation Distribution in respect of the Securities to beneficial holders of the Securities as of 1 December
2023. The value of the distribution for LP I, LP II and LP III is set out below. This distribution represents a
significant proportion of the total funds currently available for distribution. Some funds have been retained to
meet certain costs of the liquidation and residual funds from these retained reserves may become
distributable in the future. Further significant distributions are subject to the Company’s success (or
otherwise) in relation to the Priority Legal Issue 1 (as defined and set out in the Joint Liquidators’ 21
September 2023 update notice).
Value of interim Liquidation Distribution by Issuer
LP I ISIN number XS0215349357 - a Liquidation Distribution totalling EUR 36,025,574.76 which, in
accordance with the terms of the LP I Prospectus, comprises: (a) an amount of EUR 32,341,532.54, by way
of a Liquidation Preference; and (b) EUR 3,684,042.22, by way of due and accrued but unpaid Distributions.
- 2 -
LP II ISIN number XS0229269856 - a Liquidation Distribution totalling EUR 55,921,323.60 which, in
accordance with the terms of the LP II Prospectus, comprises: (a) an amount of EUR 53,218,412.64, by
way of a Liquidation Preference; and (b) EUR 2,702,910.96, by way of due and accrued but unpaid
Distributions.
LP III ISIN number XS0243852562 - a Liquidation Distribution totalling EUR 80,919,451.47 which, in
accordance with the terms of the LP III Prospectus, comprises: (a) an amount of EUR 80,060,773.06, by
way of a Liquidation Preference; and (b) EUR 858,678.41, by way of due and accrued but unpaid
Distributions.
To ensure that future payments can be made on these Securities to the extent the Joint