HY23 Interim Results Announcement

NII guidance for 2023 upgraded €1,072m Net interest income movement €676m €419m (€366m) €1,802m H122 Liquid assets Lending Funding H123 €1,072m 304bps Net interest income¹ €1,410m 329bps Bank of Ireland H123 Performance Net interest income (NII) growth primarily reflects higher rates, acquisitions and business momentum: - - Liquid asset income supported by growing deposit franchise and higher rates Lending income, with higher yields, Irish franchise momentum and KBCI transaction in Feb 2023 (€70m) all contributing Partially offset by higher wholesale and deposit funding costs (including cessation of negative interest rate income) Pricing discipline maintained; loan asset spread 27bps higher vs H122 €1,802m 331bps 222bps Outlook H2 NII expected to be modestly higher than H1, reflecting positive rate impacts² and business momentum, partially offset by higher funding costs 39% 41% 36% (23bps) 43bps H122 H222 H123 Loan asset spread Liquid asset spread Liquid assets as % of AIEAS 1 Spread Loan asset yield or Liquid asset yield less Group's average cost of funds, excludes NII impact from TLTRO 2 Interest rate assumptions: ECB deposit rate of 3.75%, BOE base rate of 5.50% and Fed Funds rate of 5.00% at end-2023 15

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