Bank of Ireland 2019 Credit Presentation

Credit Ratings Bank of Ireland 2019 Credit Presentation 24 24 (Stand alone BOIG ratings) GovCo MOODY'S Instrument Ratings Fitch Ratings S&P Global BOIMB BOIG GovCo BOIG GovCo BOIG GovCo (ACS)³ Aaa Aaa Aaa c AAA AAA AAA AAA MOODY'S baa2 Stable A2 Stable Fitch Ratings bbb Stable BBB Investment Grade Aa1 Aa1 Aa1 AA+ AA+ AA+ AA+ Aa2 Aa2 Aa2 Aa3 Aa3 Aa3 A1 A1 A1 A2 A2 S A2 A3 A3 A3 < < < < AA AA AA AA AA- AA- AA- AA- A+ A+ A+ A A A A- A- A- A- S Baa1 Baa1 Baa1 BBB+ BBB+ BBB+ BBB+ Positive Baa2 Baa2 Baa2 BBB BBB BBB BBB Baa3 T2 Baa3 Baa3 BBB-1 T2 BBB- BBB- BBB- S&P Global bbb2 Stable A- Stable Sub Investment Grade Ba1 Ba1 Ba1 BB+ BB+ BB+ Ba2 Ba2 AT1 Ba2 BB BB BB T2 Ba3 Ba3 Ba3 BB- BB- BB- BB+ T2 BB BB- AT1 B1 B1 B1 B+ B+ B+ B+ B2 B2 B2 B B B B B3 B3 B3 B- B- B- B- (...) (...) (...) (...) (...) (...) (...) Covered bond S Senior unsecured T2 Tier 2 AT1 Additional Tier 1 1 Fitch rating in respect of BOIG 2.375% 10/2029 2 BOIG (HoldCo) entity rating = BBB- 3 BOIMB is the Group's issuer of Irish Covered Bonds (ACS). Moody's has not yet assigned an issuer rating to BOIMB Bank of Ireland

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