2018 Credit Presentation

26.39% MREL Requirement¹ Loss absorption amount MREL Target 1.5% O-SII² 2.5% CCB2 2.25% P2R2 8% Own Funds Pillar 1 Requirement Recapitalisation + amount 2018 Credit Presentation Market Confidence Charge 1.5% O-SII² 2.5% CCB2 -0.86%4 2.25% P2R2 8% Own Funds Pillar 1 Requirement -1.25% 2.75% 9.39% 14.25% The Group has been advised of the decision by the SRB and the Bank of England of its binding MREL requirement to be met by 1 January 2021. This has been set at a level of 12.86% of total liabilities and own funds as at December 2016 (equivalent to 26.39% of risk weighted assets) Based on current MREL ratio³, modest new MREL issuance expected to meet this requirement Minimum Requirement for Own Funds and Eligible Liabilities as at 31 December 2018 2 Other Systemically Important Institution (O-SII), Capital Conservation Buffer (CCB) and Pillar 2 Requirement (P2R) 3 MREL ratio of 23.1% as at 31 December 2018 (based on RWA at Deember 2018) 4 Bank Specific Adjustment of 0.86% Bank of Ireland 24

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