Investor Presentaiton

Strategic Transformation Programme Cumulative Annual Cost Savings 2007/08 2005/06 2006/07 Target: €30m €75m €35m Achieved: 2008/09 €105m €120m Cost savings ahead of target for 2005/06 Programme Progress Implementation Costs - Headcount reduction New streamlined operating model Consolidation of support functions Group Manufacturing function established Consolidation of processes Cost of programme in line with guidance Cost savings for 2006/07 will exceed target Target for programme €m 210 - STP P&L charge in year to 31 Mar 2006 32 - STP P&L charge in year to 31 Mar 2005 117 ■ Cumulative P&L charge of programme 149 39 39 Bank of Ireland Group

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