2020 Results Announcement

Summary Bank of Ireland 2020 Results Announcement 2020 Performance €374m Underlying loss before tax Return to profitability in H2 2020 6th straight reporting period of reductions; costs reduced by further 4% vs. 2019 Irish mortgage market share increased 2% to 25.5% in 2020 Asset Quality 5.7% NPE Ratio • Impairment charge of €1.1bn; c.60% relates to performing loans NPE ratio increased from 4.4% in 2019 to 5.7%; stable in H2 Payment break outcomes more positive than expected; 94% concluded and only c.4% have migrated into 'new' arrears status¹ Transformation Capital c.€1.7bn Cost target reached 14.9% Regulatory CET1 ratio • Achieved 2021 cost target of c.€1.7bn one year early New cost target of €1.5bn by 2023 Further progress in the UK; Northern Ireland strategic review complete Digital progress supports new branch strategy; c.33% of branches to close Strong capital position; regulatory CET1 ratio 14.9% and c.510bps headroom to minimum regulatory requirements; fully loaded CET1 ratio 13.4% Pre-impairment organic capital generation of 80bps in H2 vs. 45bps in H1 €975m AT1 capital issued in 2020 1 Balances now categorised as arrears that were not previously in arrears prior to payment breaks; as at 12 February 2021 Bank of Ireland 5

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