Investor Presentaiton

Bank of Ireland Group Property market recovery ongoing Housing market adjusting to Central Bank's macroprudential rules Transactions and approvals data soft in opening months of 2016 but recent signs of improvement Residential price gains continue, up 6.6% Y-o-Y in June Completions up 15% in 2015 to 12,666, up 18% in first half of 2016, but still well below estimated demand Commercial activity, prices (14% Y-o-Y in Q2 '16), and rents rising (10.9%) Public finances improving Tax receipts healthy, 3.4% above budget targets in the first half of the year Spending in check, in line with budget profile General Government Deficit continues to improve in nominal and GDP terms Ireland is fully engaged in debt markets, sovereign yields at record low levels, rating upgraded Property Prices and Rents % 30- 20 10- 0 €Bn 0 -1 -2 -3. -10- -4 -20 -30- 2012 -5 -6 2013 2014 2015 2016 -7. - National National Ex Dublin Graph shows year-on-year change in residential property prices and private rents Dublin Rents -8 2014 Commercial Source: CSO Rental Growth Capital Growth 14.0% 10.90% Graph shows year-on-year change Q2 2016 Source: IPD General Government Deficit 2015 2016(f) Ireland Graph shows General Government Deficit in billions of euro Source: CSO; Forecasts: Department of Finance 2017(f) 19

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