Investor Presentaiton

Investment is rebounding Modified investment is close to pre-pandemic levels Building and Construction hampered by lockdown but other investment rebounding (y-o-y growth) IP distortions less than in previous quarters - surge in 2020 likely tax regime related 40% 30% 20% 10% 0% -10% -20% -30% -40% 1997 2000 2003 2006 2009 2012 2015 2018 2021 -Investment Building & Construction Investment ex B+C Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Source: CSO; NTMA calculations RHS Chart is 4Q sum in Euro billions 300 250 200 150 100 50 I Distortions (mainly IP) Building Investment Other Domestic Inv. Modified GFCF 17

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