Investor Presentaiton

Medium term economic challenges Covid recovery, deficit reduction and inflation Recovery Modest level of restrictions in place and vaccine rollout a success National accounts and spending data confirm recovery continued into Q3 Fiscal Significant stimulus of c.23% of GNI* announced since 2020 but not likely to be all used Public support to economy expected to be scaled back from 2022 Inflation High inflation in Ireland in recent data similar to other developed economies Inflation rates likely to fall back in 2022 but prices more of a consideration for policymakers now than pre- Covid Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency CO 6

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