Investor Presentaiton

36 34 32 30 28 26 24 22 20 Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Disposable income on pre-Covid trend Consumption not fully recovered, but retail sales show continued improvement Consumption below trend but household incomes are there to spend Retail sales strength alongside economy re-opening - hospitality restrictions will impact that sector 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Consumption (€bn) Disposable income(€bn) Source: CSO Note: RHS chart growth rate versus two years previously 40% 20% 0% -20% -40% -60% -80% -100% 19M01 19M03 19M05 19M07 All Retail Bars 19M09 19M11 20M01 20M03 20M05 20M07 20M09 20M11 21M01 21M03 21M05 21M07 Food Retail -Department Stores 21M09 16

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