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Investor Presentaiton

Lower supply expected in coming years Ireland has low redemptions compared to rest of Europe 25 20 15 10 5 Current borrowing requirements suggest NTMA issuance won't match recent past (€bns) Ireland's refinancing risk is low - only a third of debt is set to mature in the next five years Average Issuance 2022 Issuance 2017-21 2023 funding range (€7-11bn) Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Percent ON WAGON 10 0₁ 40 30 20 70 60 50 EFSF ESM DE T EA IT FR I Refinancing Risk 5Y BE EU* PT Source: ESDM Refinancing rate defined as debt maturing within five years divided by total debt outstanding. * EU data is EU as an issuer 35 35

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