Lookup only works correctly if your lookup range, in this case
Report!$F$2:$F$51, is sorted in ascending order. This formula will also
give you the "closest match" (next lowest) if an exact match isn't
found.
If you only require exact matches, you can have an unsorted lookup
range but you should use VLOOKUP, i.e.
=VLOOKUP("A2",Report!$F$2:$H$51,3,0)
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daddylonglegs
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