Bank of Ireland 2020 Debt Investor Presentation

MREL Requirement 27.78% 24.95% 4%¹ 4%¹ 24.6% 23.78%² 20.95% Bank of Ireland 2020 Debt Investor Presentation . Dec 2020 MREL ratio of 24.6% (10.3% on a leverage basis) Interim binding MREL requirements, to be met by 1 Jan 2022, of 24.95% on an RWA basis and 7.59% on a leverage basis 27 27 MREL Ratio CBR SRB Target MREL Requirement MREL RWA requirement consists of a Single Resolution Board (SRB) target of 20.95% (based on the Group's capital requirements as at 30 Jun 2020) and Group's expected Combined Buffer Requirement (CBR) of 4% on 1 Jan 2022 (comprising the Capital Conservation Buffer of 2.5% and an O-SII buffer of 1.5%) 2024 MREL requirement is expected to increase to c.28% (based on expected Dec 2021 regulatory capital requirements) as the SRB target is updated to reflect the phase-in of the O-SII buffer and the phase-out of MREL adjustments MREL eligible senior debt issuance of c.€1bn-€2bn p.a. anticipated Dec 20 Jan 22 requirement Jan 24 expected requirement 1 Expected CBR of 4% on 1 Jan 2022 comprising CCB of 2.5% and O-SII of 1.5% 2 Expected Jan 2024 SRB Target of 23.78% assumes the MCC adjustment of 0.94% is fully phased out by Jan 2024 Bank of Ireland

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