2018 Credit Presentation

Strategic Priorities: Grow Sustainable Profits Improved profitability Efficient business Robust capital position Sustainable dividends 1 See Slide 52 for calculation امر if 2018 Progress 2018 Credit Presentation 2021 Target Headline ROTE of 8.5% Adjusted ROTE of 7.2%¹ ROTE in excess of 10% Cost reduction of 3% / €48m vs. 2017 Cost base of c.€1.7bn Costs reduce every year: 2018-2021 Cost income ratio of c.50% Fully loaded CET1 ratio of 13.4% CET1 ratio in excess of 13% Dividend increased to 16c per share (€173m) Increase prudently and progressively; over time will build towards a payout ratio of around 50% of sustainable earnings Bank of Ireland 8

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