Investor Presentaiton

BOI Credit Ratings STANDARD & POOR'S Senior Unsecured BBB (Stable) MOODY'S Baa2 (Positive) Bank of Ireland Group Fitch Ratings BBB- (Positive) Issuer Specific Rating Progress on BOI Credit Ratings Key Rating Drivers Upside could develop from: Stand Alone Credit Profile (SACP): bbb Aug 2016: BBB-rating affirmed by S&P (Positive outlook); 1 notch SACP rating upgrade from bbb- to bbb Jan 2017: 1 notch senior unsecured upgrade from BBB- to BBB (outlook revised to Stable) Reduction in non-performing loans Additional loss-absorbing capacity (ALAC) uplift Baseline Credit Assessment (BCA): ba1 Sep 2016: 1 notch baseline credit assessment upgrade from ba2 to ba1 Improvements in capital metrics, while maintaining stable profitability, funding and liquidity metrics Reduction in non- performing loans Viability Rating: bbb- Dec 2016: BBB- (Positive outlook) affirmed by Fitch Reduction in non- performing loans Strong internal capital generation and strengthening capital ratios 17

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