Investor Presentaiton

Summary Term Sheet AIB Group plc Fixed Rate Reset Additional Tier 1 Perpetual Contingent Temporary Write Down Securities (the "Securities") Issuer Description Ranking Exp. Issue Ratings " Ba2 by Moody's Direct, unsecured, unguaranteed and deeply subordinated obligations of the Issuer and rank pari passu, without any preference, among themselves and with Other Pari Passu Instruments, ahead of all other classes of issued shares of the Issuer, but ranking junior to the claims of Senior Creditors AIB Currency / Size Maturity Optional Redemption Interest Interest Cancellation " Write Down Write up Special Event Redemption " Substitution/Variation Bail-in Governing Law Listing/Denom. EUR [] million Perpetual Non-Call [•] The Issuer may, in its sole and full discretion but subject to conditions (including Supervisory Permission) redeem all (but not some only) of the Securities on (i) any day falling in the period commencing on (and including) the date six months prior to the First Reset Date and ending on (and including) the First Reset Date or (ii) on any Interest Payment Date thereafter Fixed []% until First Reset Date, payable semi-annually in arrear on [] June and [] December in each year beginning on [❤] December 2020 Thereafter resets every 5 years to a rate equal to the sum of the then prevailing 5-year EUR mid-swap rate (subject to any Benchmark Event) + the margin (no step-up) (with such sum converted from an annual to a semi-annual basis) The Issuer may elect at its sole and full discretion to cancel (in whole or in part) any interest payment on any Interest Payment Date Mandatory cancellation upon insolvency of the Issuer, insufficient Distributable Items, the occurrence of a Trigger Event, or any Maximum Distributable Amount restrictions If, at any time, AIB Group plc or the Competent Authority determines that the CET1 Ratio of the Group has fallen below 7.0%, the then Prevailing Principal Amount of each Security shall be automatically and irrevocably reduced by the Write Down Amount necessary to restore the CET1 ratio to 7.0% To the extent permitted by Regulatory Capital Requirements and subject to any Maximum Distributable Amount, the Issuer shall have full discretion to reinstate any portion of any Written Down Security, which has been Written Down and which has not previously been Written Up, on a pro rata basis with all Written Down Additional Tier 1 Instruments (if any), and subject to certain conditions including the Maximum Write Up Amount Subject to certain conditions (including Supervisory Permission), in whole (but not in part), upon the occurrence of a Tax Event (Additional Amounts and Deductibility) or Capital Disqualification Event (partial or whole), at par Subject to certain conditions (including Supervisory Permission), upon the occurrence of a Tax Event (Additional Amounts and Deductibility) or Capital Disqualification Event, the Issuer may substitute or vary the terms of the Securities (all but not some only) so that they remain, or as appropriate become, Compliant Securities Statutory Irish bail in powers Laws of Ireland Euronext Dublin - GEM / €200k 13 See Preliminary Listing Particulars dated 16 June 2020 for detailed terms and conditions

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