Bank of Ireland 2022 Interim Results

H1 2022 net impairment charge of €47m H1 2022 . IFRS 9 models Macro-economic update and management adjustment €59m gain Gain of €19m from improved macroeconomic outlook and model updates, partially offset by higher weighting to downside scenarios (+10ppts) relative to December 2021 Reduction in total management adjustment by €40m including Reduction in COVID-19 management adjustment by €70m to €62m, partially offset by New €32m management adjustment related to the uncertain economic environment Stock of management adjustments² assumed to be utilised or brought in model during H2 22 Bank of Ireland 2022 Interim Results Loan loss experience and portfolio activity €106m charge Net charge primarily reflects Loan loss emergence on stage 3 assets and net losses related to case specific credit events Macroeconomic scenarios¹ updated to reflect changes in economic outlook since 31 December 2021 30 June 2022 2022 FY 22 Outlook Ireland - Probability Weighted Scenario GDP growth Inflation (CPI) Unemployment rate Irish House Price Index Delta vs Central Scenario GDP growth Inflation (CPI) Unemployment rate Irish House Price Index 2023 2024-2026 5.0% 3.7% 3.5% 6.7% 3.7% 1.9% 6.0% 5.9% 5.8% 4.0% -1.9% 0.0% -0.6% -0.9% -0.1% 0.5% 0.5% -0.2% 0.2% 0.7% 0.8% -1.0% -3.9% -1.3% Subject to no material change in the economic conditions or outlook, we expect the 2022 impairment charge to be lower than 20bps 1 See slide 42 for 2022-2026 macro-economic assumptions used in IFRS 9 models 2 Total stock of management adjustments of €352m at June 2022 comprised of: NPES €130m; Mortgage LGD €104m; COVID-19 €62m; economic uncertainty €32m; BBROI PD €24m Bank of Ireland 23

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