H1 2020 Credit Presentation

H1 2020 Financials H1 2019 H1 2020 (€m) (€m) Net interest income 1,069 1,079 Business income 311 266 Additional gains, valuation and other items 31 Total income 1,411 Operating expenses (123) 1,222 (903) (872) Levies and Regulatory charges (73) (70) Impairment of goodwill (9) Operating profit pre-impairment 435 271 Net Impairment gains /(charges) (79) (937) Share of associates/JVs 20 (3) Underlying profit/(loss) before tax 376 (669) Non-core items (61) (153) Profit before tax 315 (822) • H1 2019 H1 2020 (€m) (€m) Net interest margin (NIM) Cost income ratio¹ Underlying earnings per share 2.16% 2.02% 65% 66% 25.2c (58.8c) 1 See slide 54 for calculation Bank of Ireland H1 2020 Credit Presentation Underlying loss before tax €669m Total income 13% lower; net interest income stable Business income 14% lower from reduced economic activity Falling equity markets and widening credit spreads impacting Wealth and Insurance valuations 3% reduction in operating expenses Net impairment charge €937m reflects: IFRS 9 macro-economic outlook and model update €432m Management adjustment related to payment breaks €184m Actual loan loss experience €321m Non-core items include charges associated with: Impairment of intangible asset €136m Restructuring costs €27m Bank of Ireland 11

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