H1 2020 Credit Presentation

Lower business income from reduced economic activity Wealth and Insurance Retail Ireland Bank of Ireland H1 2020 Credit Presentation 14% decrease in business income • 16% decrease in Wealth and Insurance: New business sales (APE) decreased by 21% vs. H1 2019 Decrease in existing book income due to COVID-19 impact on returns and experience vs. 2019 Retail Ireland 20% lower vs. H1 2019: H1 2019 (€m) H1 2020 (€m) 119 100 129 103 Retail UK (11) 2 Corporate and Treasury 77 67 Group Centre and other (3) (6) Business Income 311 266 - Additional Gains 3 2 IFRS income classifications¹ 10 (16) Valuation and other items 18 (109) Other Income 342 143 Business income by quarter €152m €144m €167m 32% • - Reduced economic activity driving lower current account income Decrease in FX income from reduced travel Q2 card transactions 9% lower than Q1 2020 Retail UK €13m increase due to lower commissions paid Corporate and Treasury income impacted by lower FX income Valuation and other items (€109m) • €114m • Falling equity markets and widening credit spreads relating to unit linked assets and bond portfolio valuations in Wealth and Insurance (€90m) Financial instruments valuation adjustments and other items (€19m) Outlook Q1 19 Q1 20 Q2 19 Q2 20 • Increased economic activity and accelerated reopening 2020 business income to be 20%-30% lower than 2019 1 IFRS income classifications include c.€6m of interest income in H1 2020 on 'Life loan mortgage products' which on transition to IFRS 9 were mandatorily classified as FVTPL, with all income on such loans reported in 'net other income'. IFRS income classifications are fully offset in net interest income Bank of Ireland 14

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