Irish Sovereign Green Bonds Update

Medium-term driver - Housing supply still below demand; supply was catching up before Covid-19 12 10 Thousands of housing units 80 6 4 N Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Border West 1111 Mid-West South-East South-West Average annual housing demand (2020-2030) I New Dwelling Completions (last four quarters) Dublin Mid-East Midland Source: CSO; NTMA analysis • Average annual housing demand (2020-2030) New Dwelling Completions (last four quarters) State 33.6 19.7 GDA 17.2 10.5 Ex-GDA 16.5 9.2 Greater Dublin Area (Dublin + Mid East) requires the majority of needed dwellings. 64

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