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Investor Presentaiton

Underlying profit before tax of €758m Bank of Ireland 2019 Results Announcement FY 2018 (€m) FY 2019 (€m) Net interest income Other income 2,146 2,150 Operating profit pre-impairment increased 10% from higher income and lower costs Stable net interest income 659 686 Total income 2,805 2,836 . Other income up 4% Operating expenses (1,852) (1,785) Levies and Regulatory charges (101) (117) Operating profit pre-impairment 852 934 Net Impairment gains /(charges) 42 (215) Share of associates/JVS 41 39 Underlying profit before tax 935 758 Non-core items (100) (113) Profit before tax 835 645 4% reduction in operating expenses Increased impairment charges reflect: A more normalised level of impairments Losses on small number of large exposures in 2019 Non-core items include charges associated with: Tracker Mortgage Examination (€67m, of which €12m in H2 2019) Restructuring costs - FY 2018 FY 2019 Net interest margin (NIM) 2.20% 2.14% Cost income ratio¹ 65% 63% Underlying earnings per share² 64.8c 52.4c 1 See slide 53 for calculation 2 See slide 55 for calculation Bank of Ireland 17
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