2018 Credit Presentation

Capital/MREL Summary Highlights • Ratings . . Economy • Regulatory Ratios 2018 Credit Presentation BOIG (HoldCo) investment grade ratings with positive outlook from Moody's and S&P Upgrades to the Bank's senior ratings by Moody's and S&P reflect the issuance of bail-in-able debt by BOIG leading to greater protection for the Bank's senior creditors Continued economic growth in core markets; supporting strong organic capital generation of 180bps in 2018 The Group expects to maintain a CET1 ratio in excess of 13% on a regulatory basis and on a fully loaded basis by the end of the O-SII phase-in period¹ Robust regulatory ratios provide significant buffer to credit investors (c.500bps buffer to MDA) • MREL issuance of c.€1.2bn completed in 2018 MREL • Based on current MREL ratio and SRB MREL Policy, modest new MREL issuance expected c.€1bn-€2bn p.a. 1 The Other Systemically Important Institution (O-SII) buffer will be introduced at 0.5% in July 2019, increasing to 1.0% in July 2020 and 1.5% in July 2021 Bank of Ireland 27 27

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