2018 Credit Presentation

Cost income ratio: Dec 2018 Headline vs. Adjusted Net interest income Other income - Business income FY 2018 Headline (€m) 2,146 Pro forma adjustments (Єm) 2018 Credit Presentation FY 2018 Pro forma (Єm) 2,146 672 672 - Additional gains 9 (9) - Other valuation items¹ (22) 56 34 Total Income 2,805 47 2,852 Costs - Operating expenses - Transformation Investment Costs Cost income ratio • Cost income ratio excludes; • - - Levies and Regulatory charges Non-core items 1 Excludes IFRS income classifications which is fully offset in net interest income 1,739 113 1,852 66% 2018 adjusted cost income ratio is adjusted for; Additional Gains and valuation items¹ (€47m) - 1,739 113 1,852 65% Bank of Ireland 51

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