How does lactate dehydrogenase facilitate both oxidation and reduction processes in cells?

By inhibiting pyruvate formation under aerobic conditions.

By catalyzing the reversible conversion of pyruvate to lactate, allowing for NAD+ regeneration in anaerobic conditions and NADH formation in aerobic conditions.

By solely converting lactate back to pyruvate in aerobic conditions.

By producing oxygen from lactate during anaerobic conditions.