Bank of Ireland 2019 Credit Presentation

Operating expenses Total staff costs - Staff costs - Pension costs Other costs¹ Depreciation¹ Operating Expenses Transformation Investment charge Operating Expenses (before levies and regulatory charges) Levies and Regulatory charges Total Operating Expenses Average staff numbers Cost income ratio² Bank of Ireland 2019 Credit Presentation (€m) FY 2018 FY 2019 (Єm) 868 844 721 710 147 134 659 544 212 289 1,739 1,677 113 108 1,852 1,785 101 117 1,953 1,902 10,595 10,424 65% 63% 1 The adoption of IFRS 16 resulted in a decrease in other costs of €72m and an increase in depreciation of €72m. 2 See slide 52 for calculation Bank of Ireland 44

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