HY23 Interim Results Announcement

Structural hedge and net interest income sensitivity Structural hedge¹ Bank of Ireland Period-end volume €39bn Interest income €60bn €66bn €374m €118m €12m €29m €41m €59m H122 H222 H123 GBP EUR Illustrative NII sensitivity² to parallel shift in interest rates (annualised) • Higher structural hedge volumes in H123 due to growth in customer current account balances Increased income in H123 reflects higher swap rates and volumes: Average gross yield on fixed leg of structural hedge portfolio increased from 64bps in H222 to 134bps in H123; exit rate of 154bps end June 2023 Average duration of hedge portfolio unchanged at c.3.5 years at Jun 2023; one seventh of the portfolio rolling annually NII sensitivity of €170m at HY23; reduction vs FY22 level of €270m reflects - higher assumed levels of pass through on liabilities, reflecting higher starting position on interest rates (3.5% ECB deposit rate Jun 2023 vs 2.0% Dec 2022) increased structural hedge volumes - partially offset by balance sheet growth in the period EUR GBP USD Total +100bps -100bps €130m €25m €15m €170m • Structural hedge enhances NII resilience while reducing NII sensitivity (€255m) (€40m) (€20m) (€315m) 1 Gross interest income from fixed leg of hedging swap; the Group's fixed rate assets (e.g. fixed rate lending) are fully hedged for interest rate risk; these hedges partially offset the Group's structural hedge 2 The sensitivity assumes (i) an instantaneous and parallel movement in all interest rates, with a starting point of an ECB deposit rate of 3.5%; (ii) a static balance sheet; (iii) assets and liabilities whose pricing is mechanically linked to market or central bank policy rates reprice immediately; (iv) certain other assumptions including pass throughs to assets and liabilities. The sensitivities should not be considered a forecast of future performance in rate scenarios as they do not capture potential management action in response to unexpected changes in the interest rate environment. Net interest income sensitivities will change depending on interest rate starting point 16

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