Bank of Ireland 2021 Interim Results - Debt Investor Presentation

Strategic progress with significant improvement in UK performance in H1 Retail UK Net interest income Other income H1 2019 H1 2020 £250m H1 2021 £239m £268m Costs (excl. intangibles) Operating profit Impairment JV income £14m Underlying profit/(loss) Cost income ratio Loan book Deposits NIM (£6m) £1m (£1m) (£147m) (£136m) (£121m) £97m £96m¹ £146m (£31m) (£242m) (£2m) £1m (£5m) £80m (£145m) £139m 60% 56% 45% £24.8bn £24.5bn £23.6bn £19.2bn £19.5bn £16.9bn 1.81% 1.66% 1.95% • Increase in Bespoke mortgage lending mix and margin 1.84% 0.98% 0.67% 3% 8% 21% • 97% 92% 79% Bank of Ireland 2021 Interim Results - Debt Investor Presentation 52% improvement in operating profit in H1 2021 vs H1 2020 • 12% increase in net interest income 11% reduction in costs Significantly reduced impairment charge Travel restrictions continue to impact retail FX JV income Lower lending balances (reduction of £0.9bn vs £24.5bn Dec 2020), in line with strategy of lower volume, higher margin balance sheet Reduction in deposits (£1.4bn lower vs £18.3bn Dec 2020) supporting margin performance (c.11bps improvement in deposit margins in H1 2021 vs H2 2020) Strategic actions to further improve returns Growth in Bespoke² as a proportion of new mortgage lending, with increased margins Bespoke new lending of £259m in H1 2021 (up 170% vs H1 2020); now represents 21% of total new mortgage lending (vs 8% H1 2020) Bespoke has lower LTV (72% H1 2021) than standardised (80%) Progress on cost initiatives including: Northern Ireland branch closures commenced in June >300 FTE (c.21%) leaving in 2021 under redundancy programme Building blocks to increase UK returns remain: - - Higher new lending margins - - a focus on value versus volume Reduced funding costs H119 H1 20 H1 21 Bespoke Margin ■Non-Bespoke Bespoke 1 Includes £8m goodwill intangible write-off 2 Bespoke is a personalised and flexible underwriting service for good quality more complex cases Lower operating costs Smaller balance sheet Bank of Ireland 8

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