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Investor Presentaiton

Investor base for Government bonds is wide and varied Investor breakdown: Average over last 8 syndications 17% 25% 10% ■Fund/Asset Manager Pensions/Insurance Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency 48% Country breakdown: Average over last 8 syndications 12% Cont. Europe, 30% 10% Ireland, 13% 8% UK, 27% Ireland ■ UK ■Banks/Central Banks US and Canada ■Continental Europe ■ Other Nordics ■ Other Source: NTMA 43

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