Investor Presentaiton

External environment in 2023 Recent data better than expected but still mixed and leaning towards global slowdown Ireland price taker on Oil/Gas: significant cost beginning to recede in early 2023 2022 2023 EA Monetary Policy Purchases ended; Rate normalisation Rate normalisation + start of QT EU Fiscal Policy US Monetary Policy US growth Energy prices Expansionary Sharp increase in rates 4.0 Expansionary Policy rate elevated but may see cuts year-end Decelerating growth EUR, billion € 3.0 $2.0 Low growth 1.0 Severe crisis Prices pressure easing 0.0 Decelerating growth Low growth at best UK growth Euro Growth Global Inflation Slow growth Elevated in 2022 Financial Stability Little concern Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency I Low growth at best Core measures elevated Unknown but negative at margin 2006 2008 2010 2012 2014 2016 2018 2020 2022 Gas imports (3 mths rolling) Petroleum imports (3 mths rolling) - Total imports (3 mths rolling) Source: CSO 23 23

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