Investor Presentaiton

Medium term economic challenges Recovery amid energy price shocks, global slowdown and broadening inflation Growth Real consumption was strong in Q2. Direct exposure to Ukraine conflict is limited but indirect impact on energy costs will increasingly be a factor. Labour market strength gives comfort Fiscal Deficit set for surplus in 2022 as economic recovery buoys revenues. Heading into uncertain period in good fiscal shape Spending on cost-of-living measures announced in Budget 2023 Inflation High inflation in Ireland similar to any other developed economy Inflation and rate hikes will slow growth momentum but Ireland enters uncertain phase in full employment Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency CO 6

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