Investor Presentaiton

Tender offer Summary Terms Offer Offeror Target Securities Purchase Price Allocation of New AT1 Securities New Financing Condition Rationale ☐ Tender offer targeting up to €250mm in aggregate principal amount Allied Irish Banks, p.l.c. AIB €500mm Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities (ISIN: XS1328798779), with a first reset date (being the first date on which, subject to obtaining regulatory consent and the satisfaction of certain other conditions, the issuer can elect to redeem such securities) of 3-Dec-2020. [x] % (together with Accrued Interest) When considering allocation of the New AT1 Securities, AIB Group plc intends to give preference to those Securityholders who, prior to such allocation, have validly tendered (or have given a firm indication to AIB Group plc or any Dealer Manager that they intend to tender) their Securities pursuant to the Offer. Please refer to the Tender Offer Memorandum for full details regarding the New AT1 Securities Allocation Purchase of any Securities validly tendered in the Offer is subject, without limitation, to the successful completion (in the sole determination of the Offeror) of the issue of the New Additional Tier 1 Securities The purpose of the Offer is to provide liquidity to holders and it is being made as part of the Offeror's active management of the AIB Group plc's consolidated capital profile whilst issuing New Additional Tier 1 securities ultimately for the benefit of the Offeror's business. Securities purchased by the Offeror pursuant to the Offer (and subject to satisfaction or waiver of the New Financing Condition on or prior to the Settlement Date) are expected to be cancelled and will not be re-issued or re-sold Commencement of the Offer: 16 June 2020 Expected timetable of events Expiration Deadline: 4.00pm on 22 June 2020 (all times are London time) ☐ Announcement of Results: At or around 10.00 a.m. on 23 June 2020 Settlement Date: expected on 24 June 2020 Dealer Managers BofA Securities, Goldman Sachs International, J.P. Morgan Note: Allocation of New AT1 securities - AIB Group plc is not obliged to allocate the New Additional Tier 1 Securities to a Securityholder who has validly tendered or indicated a firm intention to tender the Securities pursuant to the Offer. Any potential allocation of New Additional Tier 1 Securities, while being considered by AIB Group as set out above, will be made in accordance with customary new issue allocation processes and procedures. Offer restrictions apply. For further details please review the Tender Offer Memorandum dated 16 June 2020. 14

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