Q1 2020 IMS Presentation

Economic outlook remains uncertain 5.0% 5.5% Ireland 13.5% (8.0%) 2019 2020f ■GDP¹ 3.8% 1.4% 2019 Unemployment Rate² UK 9.0% (8.5%) 8.0% 7.5% Bank of Ireland Q1 2020 IMS Presentation Economic outlook remains uncertain • • • • Lower GDP and employment in 2020 across our core markets, with rebound expected in 2021 The impact of COVID-19 is leading to reduced levels of customer activity across our businesses Consumer and business sentiment has plummeted in Ireland and the UK In Ireland, household spending has decreased, with retail sales volumes down 1.9% year-on-year in Q1 and set to fall further Expect customer and business activity levels to begin to improve, in line with economic forecasts, later in 2020 Ireland has relatively high exposure to resilient sectors like pharma and ICT • 2021f 6.2% 6.5% 2020f 2021f ■GDP1 Unemployment Rate² Source: Forecasts by Bank of Ireland Economic Research Unit 1 Annual real growth 2 Annual average Bank of Ireland 6

View entire presentation