HY23 Interim Results Announcement

Operating expenses in line with guidance €791m (€2m) Operating expenses movement €25m €93m H122 (restated)¹ Net reductions / inflation Acquisitions Bank of Ireland €907m Other H123 (reported)² • H123 performance Net efficiencies and lower pension costs have been largely offset by inflation and investment impacts; like-for-like expenses¹ broadly in-line at €789m Acquisitions reflect Davy (acquired 1 Jun 2022), KBCI portfolios (acquired 3 Feb 2023), and one-off onboarding investment costs, now largely complete Other reflects accrual for variable pay, with payment performance related, and additional investment to drive future efficiencies Non-core H1 non core costs of €12m Outlook • Operating expenses expected to be c.€1.85bn, in line with prior guidance Levies and regulatory charges expected to be c.€160m Non core items expected to be lower than 2022 1 Reported costs in H122 were €849m; like for like figure of €791m excludes Davy and onboarding costs of €20m, and is restated for application of IFRS 17 (€38m) 2 Operating expenses excluding levies and regulatory charges (H123 €110m) 19

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