Irish Sovereign Green Bonds Update

Ireland's debt figures to reverse in 2020 and 2021 as large fiscal response needed; Govt. to set path back to balance Run of primary surpluses before '20 GG deficit c. €19bn 10 Debt position reversed in 2020 Debt fell from 166% to 95% of national income pre-Covid 180% 5 0 M 160% Debt-to-GNI* (106% 2020f; 95% in 2019) 140% TTT TT 120% -5 Debt-to-GG Revenue 100% (254% 2020; 229% in 2019) 80% -10 60% Average interest rate -15 40% (1.8% 2020, from 2.2% in 2019) 20% -20 Debt-to-GDP 0% -25 (60% 2020, from 57% in 2019) 1995 2000 2005 2010 2015 2020 1995 2000 2005 2010 2015 2020 GG Balance Primary Balance Debt to GNI* Debt to GDP Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Source: CSO, Department of Finance ^ due to GDP distortions, Debt to GDP is not representative for Ireland, we suggest using other measures listed. 5

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