Investor Presentaiton

Strategic imperative to improve UK returns Bank of Ireland 2019 Results Announcement Invest • Pivot to niche mortgages: higher margins and lower LTV; £225m new lending in 2019 • Auto finance: increased new lending and distribution; supporting growth in market share . Maintaining commercial discipline on risk and pricing . • • зда Improve 1000 UK Post Office: partnership extended with enhanced alignment and benefits Costs: reduced by 18%; cost income ratio of 60% (2018: 66%) Funding costs: inaugural wholesale funding transaction (£350m) completed PBT: contributed 23% to Group underlying PBT • A Reposition UK credit cards: sale added 10bps to Group CET1 ratio Current accounts: exit from PO current accounts • ATMs: exiting from unprofitable . business in line with strategy Non-core: continue to reduce legacy portfolios Outlook . Growth: focused on profitable lending growth in our core businesses of mortgages, auto finance and consumer lending • • Risk: commercial discipline and risk focus in context of ongoing Brexit uncertainty Margin: ongoing margin optimisation across lending and liabilities; however competitive market backdrop expected to persist . Costs: continue to reduce costs to drive improved efficiency and returns • Returns: ROTE target of high single digits will be beyond 2021; strategic imperative to improve returns Bank of Ireland 10

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