2020 Results Announcement

45 25 Impairment coverage increased to 2.9% Net impairment charge €512m €388m €108m €76m €60m €57m €23m €30m €24m (€8m) Mortgages (UK) Non-property SME and corporate Property and construction Consumer Mortgages (Ireland) 2019 2020 Impairment loss allowance (ILA) by portfolio Bank of Ireland 2020 Results Announcement Impairment coverage increased from 1.6% to 2.9% Net impairment charge €1.1bn¹ / 134bps (FY 2019: 27bps) Dec 19 Dec 20 ILA % of ILA % of ILA ILA gross (€m) (€m) loans gross loans . Mortgages Ireland 369 1.6% 393 1.7% Mortgages UK 63 0.3% 86 0.4% Non-property SME and 487 2.4% 931 4.7% corporate Property and construction 230 2.8% 596 Consumer 159 2.8% 236 6.9% 4.5% Total 1,308 1.6% 2,242 2.9% Stage 1 impairment coverage 0.2% 0.6% Stage 2 impairment coverage 3.4% 3.5% 30.6% 30.1% Ireland mortgage impairment charge reflects macro-economic outlook offset by incorporation of additional external data on the Irish property market Non-property SME and corporate charge, 77% relating to performing loans, includes increased charge on higher impacted sectors and portfolios Property and construction charge primarily reflects loss emergence on a small number of legacy exposures c.60% of the charge is on performing loans reflecting macro-economic assumptions and management adjustment Actual loan loss experience €0.4bn / c.40% of charge ILA increased by 71% to €2.2bn with impairment coverage increasing across all portfolios Not included in the impairment charge is an additional €214m of calendar provisioning for aged NPEs taken as a direct deduction to capital in line with regulatory requirements Stage 3 impairment coverage 1 Net impairment charge €1,061m on loans and advances to customers, net impairment charge on other financial instruments €72m, total net impairment charge €1,133m Bank of Ireland

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