Bank of Ireland 2022 Interim Results

Continued strategic progress in the UK Retail UK Bank of Ireland 2022 Interim Results Strong operating performance in H1 2022 H1 2021 H1 2022 Net interest income £268m £292m Other income (incl JV) (£6m) £10m Costs (£121m) (£125m) • Operating profit £141m £177m • pre-impairment Impairment (£2m) (£10m) Underlying profit /(loss) £139m £167m Cost income ratio Loan book 45% £23.6bn Deposits £16.9bn NIM 1.95% 43% £20.2bn £13.8bn 2.29% . Sustained improvement in profit and efficiency 60% 56% £141m £177m • 9% increase in net interest income reflects higher net interest margin (+34bps y/y), supported by lower funding costs and strong momentum from 2021 lending activity £4m y/y increase in costs reflects digital and service investment UK macro outlook has softened in 2022, but modest impact on asset quality at end H1 22. Impairment loss of £10 million reflects portfolio activity and the current economic environment Lending balances lower (£20.2bn Jun 22 vs £21.9bn Dec 21), in line with strategy, and commercial focus on value over volume Deposit book lower (£13.8bn Jun 22 vs £15.8bn Dec 21), supporting margin improvement Strategic actions delivering sustainable returns • £111m £97m 45% 43% . H119 H1 20 H121 H1 22 Cost Income ratio • Growth in Bespoke¹ mortgage lending, with higher margins and typically lower LTV vs standard mortgages - Bespoke 53% of new lending in H1 22 (vs 3% in H1 19 and 21% in H1 21) Bespoke margin dynamics outperforming standard in H1 22 Deleveraging expected to continue in H2 22; pace to reflect ongoing pricing discipline Competitive market conditions and macro environment reinforce our UK strategy focused on a smaller, more profitable balance sheet ■Operating profit pre-impairment (incl. JV) 1 Bespoke is a personalised and flexible underwriting service for good quality more complex cases Bank of Ireland 9

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