2020 Interim Results

20 20 Lower business income from reduced economic activity Wealth and Insurance Retail Ireland Bank of Ireland 2020 Interim Results 14% decrease in business income • 16% decrease in Wealth and Insurance: New business sales (APE) decreased by 21% vs. H1 2019 Decrease in existing book income due to COVID-19 impact on returns and experience vs. 2019 Retail Ireland 20% lower vs. H1 2019: H1 2019 (€m) H1 2020 (€m) 119 100 129 103 Retail UK (11) 2 Corporate and Treasury 77 67 Group Centre and other (3) (6) Business Income 311 266 - Additional Gains 3 2 IFRS income classifications¹ 10 (16) Valuation and other items 18 (109) Other Income 342 143 Business income by quarter €152m €144m €167m 32% • - Reduced economic activity driving lower current account income Decrease in FX income from reduced travel Q2 card transactions 9% lower than Q1 2020 Retail UK €13m increase due to lower commissions paid Corporate and Treasury income impacted by lower FX income Valuation and other items (€109m) • €114m • Falling equity markets and widening credit spreads relating to unit linked assets and bond portfolio valuations in Wealth and Insurance (€90m) Financial instruments valuation adjustments and other items (€19m) Outlook Q1 19 Q1 20 Q2 19 Q2 20 • Increased economic activity and accelerated reopening 2020 business income to be 20%-30% lower than 2019 1 IFRS income classifications include c.€6m of interest income in H1 2020 on 'Life loan mortgage products' which on transition to IFRS 9 were mandatorily classified as FVTPL, with all income on such loans reported in 'net other income'. IFRS income classifications are fully offset in net interest income Bank of Ireland

View entire presentation