2019 Interim Results

NIM - Strong commercial discipline on pricing Bank of Ireland 2019 Interim Results Net interest margin drivers NIM of 2.16% in H1 2019 . H1 2019 NIM of 2.16% Maintaining strong commercial pricing discipline - loan asset spreads stable at 284bps in H1 2019 The impact on NIM from competitive pressures in the UK mortgage market have stabilised in H1 2019 2.23% 2.17% 2.16% 282bps 283bps 284bps • (11bps) (12bps) (17bps) H1 2018 H2 2018 Loan Asset Spread¹ H1 2019 Liquid Asset Spread¹ Net Interest Margin 0.40% (0.32%) Dec 2019 Lower for longer interest rates 0.68% (0.20%) Outlook • During 2019, the expected EUR 5 year swap rate in 2021 declined by 100bps 2019 is expected to be slightly lower than H1 NIM of 2.16% 2020/2021: trending mid to high single digit bps lower than 2.16% • 0.96% 100bps decline (0.04%) Dec 2020 Dec 2021 Jan 19 Jul 19 (Euro 5yr swap rate) 1 Spread = Loan asset yield or Liquid asset (excl. NAMA bonds) yield less Group's average cost of funds Bank of Ireland 14

View entire presentation