#120 20 2020 Results Announcement 31 December 2020 Bank of Ireland#2Empty#3Group CEO Francesca McDonagh Bank of Ireland 2020 Results Announcement Bank of Ireland 3#4Empty#5Summary Bank of Ireland 2020 Results Announcement 2020 Performance €374m Underlying loss before tax Return to profitability in H2 2020 6th straight reporting period of reductions; costs reduced by further 4% vs. 2019 Irish mortgage market share increased 2% to 25.5% in 2020 Asset Quality 5.7% NPE Ratio • Impairment charge of €1.1bn; c.60% relates to performing loans NPE ratio increased from 4.4% in 2019 to 5.7%; stable in H2 Payment break outcomes more positive than expected; 94% concluded and only c.4% have migrated into 'new' arrears status¹ Transformation Capital c.€1.7bn Cost target reached 14.9% Regulatory CET1 ratio • Achieved 2021 cost target of c.€1.7bn one year early New cost target of €1.5bn by 2023 Further progress in the UK; Northern Ireland strategic review complete Digital progress supports new branch strategy; c.33% of branches to close Strong capital position; regulatory CET1 ratio 14.9% and c.510bps headroom to minimum regulatory requirements; fully loaded CET1 ratio 13.4% Pre-impairment organic capital generation of 80bps in H2 vs. 45bps in H1 €975m AT1 capital issued in 2020 1 Balances now categorised as arrears that were not previously in arrears prior to payment breaks; as at 12 February 2021 Bank of Ireland 5#6Customers at the core of our response to COVID-19 Customers Relationship NPS1 improved by +5 points in 2020 vs. 2019 Bank of Ireland 2020 Results Announcement Payment Breaks - better than expected outcomes Active payment breaks - 94% now concluded² with modest arrears migration evident Overall RNPS Score Top 3 Drivers of RNPS score 7 100k 90k 6 ↑ 5pts 80k 5 70k ↑ 4% ↑ 4% 60k 4 ↑ 3% 50k 3 40k Feb 2020 30 DPD 2 30k 20k 3.0% of all balances³ 1 10k 0 Relationship NPS Easy to deal with Genuinely care about their customers Good reputation Apr 20 Dec 2020 > 30 DPD 3.0% of all balances³ • Financial Wellbeing Index at 66 (+5 vs. Feb 2019) Customer complaints fell by 22% vs. 2019 in Ireland Various lending supports provided, including: Additional €1bn in funding for Sustainable Finance Fund Online application portal launched under €2bn Irish Credit Guarantee Scheme to ensure quicker access for SMEs Launched simple monthly fee for Personal Current Accounts (PCA), replacing 26 separate charges Launched nationwide fraud awareness campaign and additional Vulnerable Customer supports Rated best provider for supporting bereaved customers through probate amongst all UK banks Jul 20 Oct 20 Active payment breaks Jan 21 c.100k initial 3 month payment breaks to personal and business customers in Ireland and UK 94% of payment breaks have now concluded - - 97% of these have returned to pre-COVID-19 terms 3% have had further forbearance measures approved 6% of payment breaks remain in place Minimal arrears and NPE migration evident in concluded payment breaks so far; c.4% of concluded payment breaks have become 'new' arrears4 Proactive early engagement continues RNPS = Net Promoter Score measuring customer loyalty; difference between % of promoters vs. % of detractors 2 As at 12 February 2021 3 Retail customers in Ireland and UK, arrears on all balances, payment break and non-payment break 4 Balances now categorised as arrears that were not previously in arrears prior to payment breaks Bank of Ireland 6#7Enabling our Colleagues and Communities to thrive Colleagues Strong improvement in Engagement & Culture Bank of Ireland 2020 Results Announcement Communities Supporting our Communities during the Pandemic 80% 75% 70% 65% 77% Irish mortgage market share increased by 2% +25.5% €2.0bn new lending to Irish SMEs 60% 66% 62% 55% Q4 2019 67% Q4 2020 Colleague engagement Culture embedding 87% of colleagues believe the Group is quickly adapting to the changing ways of working, and 94% believe the Group is keeping them informed about the impact of COVID-19 on their working life Additional flexible Ways of Working supports; > 75% of colleagues currently working from home Over 280k visits to the Group's digital learning platform, with > 80% of colleagues engaging in non-mandatory, online training "With Pride" LGBT+ Network recognised as market-leading with two industry Diversity & Inclusion awards Female talent representing 47% of all new senior appointments in H2 (2020: 41%), on track to achieve 50:50 gender target in 2021 Residential development lending fund increased by €0.4bn to €2bn €4m Begin Together campaign to support communities and the arts Supporting house building and new home supply for communities across Ireland; in 2020 approved loans to finance the development of c.2,300 new homes, including 675 homes for social housing 'Cares about community' increased +5 points to 42%, driving an improvement in relationship NPS in 2020 New Responsible and Sustainable Business (RSB) strategy 'Investing in Tomorrow' launched Distributed €1m in emergency funds for c.150 island of Ireland charities and communities impacted by COVID-19 Over 50% of Irish schools participating in BOI Youth Financial Literacy Programme Bank of Ireland 7#8Continued economic strengthening in 2021 expected 5.0% 18.7% Ireland 16.0% 6.8% • Bank of Ireland 2020 Results Announcement Ireland is a very open economy; imports and exports sum to c.240% of GDP, and leveraged to international developments Ireland's 2020 performance benefited from strong exports; more than offsetting weak domestic performance Two-speed Irish economy reflected in industrial production data: 5.6% 5.0% 5.8% 3.7% 2019a 2020f 2021f 2022f - GDP1 Unemployment² 3.8% 4.5% 1.4% (9.9%) UK 5.7% 6.0% 6.8% 4.6% • . multinational-oriented sectors grew by 7.3% y/y in 2020 domestic-oriented sectors contracted by 5.3% last year Brexit outcome provides greater certainty to support investment; 16% of Irish services exports and 9% of goods exports go to UK Irish government's fiscal measures total €38bn (19% of GNI*3) in fighting the effects of COVID-19 High frequency data show that economic activity in Ireland is heavily influenced by COVID-19 policy measures 2019a 2020a 2021f 2022f GDP1 Unemployment² Sources: Forecasts (February 2021) by Bank of Ireland Economic Research Unit; CSO; ONS 1 Annual real growth 2 Annual average rate 3 GNI*, or Modified Gross National Income, is an indicator designed to exclude globalisation effects that are disproportionally impacting the measurement of the size of the Irish economy Bank of Ireland 8#9As 2021 progresses, Irish recovery expected to become more broad-based 120 100- 80- 60- 40- Bank of Ireland Pulse shows sentiment holding up, particularly for housing 20+ Jan 20 May 20 Sep 20 Jan 21 Economic Housing Deposits¹ grew €25bn / 15% during 2020 200bn 175bn 150bn 125bn 100bn 75bn Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Households NFCS Q4 20 • • Bank of Ireland 2020 Results Announcement As of 22 February, total COVID-19 vaccine doses equivalent to c.7% of the population had been administered in Ireland, vs. an EU average of c.6% Tighter COVID-19 restrictions weighing on overall economic sentiment Reopening of retail, construction and hospitality sectors will support stronger recovery - 247k of the 473k people currently (as of 23 February) on the Irish government's Pandemic Unemployment Payment previously worked in those three sectors Housing sentiment positive; Bank of Ireland's Housing Pulse has returned to pre-pandemic levels Growth in private sector deposits; +15% since 2019, supportive of future consumer spending and business investment Irish household debt at 15 year low of €130bn; ratio of debt-to-disposable income has improved from peak of 210% in 2011 to current 107% Sources: Bank of Ireland Economic Pulse; Bank of Ireland Housing Pulse; Central Bank of Ireland; Ireland Health Service Executive; European Centre for Disease Prevention and Control; Ireland Department of Social Protection 1 Households and Non-Financial Corporations only, excludes Insurance Corporations and Pension Funds / Other Financial Intermediaries Bank of Ireland 9#10Digital engagement accelerated in 2020 following Bank of Ireland 2020 Results Announcement new channel launches and COVID-19 behaviour change COVID-19 accelerated decline in traditional branch transactions (47%) Digital adoption has reached a tipping New mobile app driving increase in point on key product applications¹ customer satisfaction < 20% 31% 38% 73 54 66 23.0 19.1 12.2 > 80% 69% 62% (4) 46 45 2018 2019 2020 2019 ■Branch/ATM/Cheque (million transactions) Supported by digital investments, <7% of completed traditional branch transactions now require manual intervention Decision to reduce branch footprint with closure of 103 branches across Island of Ireland, generating c.€26m in annualised cost savings Migration of entire Ireland and UK ATM fleet (c.4,000 devices) to FiServ in 2020, reducing operational risk and future investment costs 2020 Digitised² Assisted² 2021 (f) Digital adoption reaches tipping point as customers move seamlessly into digitised take-up of key banking products Digital fulfilment on key products expected to be >80% by end 2021 Digital PCA journey now takes as little as 6 mins, and c.80% of all new PCAs can be opened using biometrics 1 Everyday banking products including: Current Accounts, Deposits, Credit Cards and Personal Loans 2 Digitised: No human engagement required to complete purchase. Assisted: human (staff) engagement required to complete 3 Customer Effort Score (CES) is a customer satisfaction survey measuring ease of use of a high-volume service or product channel Ages 18-30 Ages 31-60 Ages 61+ ■CES³ Q4 19 (old app) CES³ Q4 20 (new app) New app launched in 2020, increasing functionality by 50% Regular release programme has added 25 additional features; more releases in 2020 than in previous 3 years c.70% of customers digitally active with a 26% increase in customers registering for the new mobile app since launch Bank of Ireland 10#11Material progress on Transformation in 2020, accelerating delivery in 2021 Key Milestones Delivered in 2020 Bank of Ireland 2020 Results Announcement • • • Growth Digital insurance wallet (now generating 38% of general insurance sales) New fully digital mortgage journey for first time buyers (31% of applicants now via this channel) Efficiency 15+ sales and servicing journeys digitised via End-to-End process in 2020; €21.5m (410 FTE) in costs savings Customer experience Digital payments for mobile app New digitised small business lending proposition New digital pension and broker platforms Pay-to-Mobile tool enhanced and refreshed • First-to-market digital arrears journey Increased Revenue • Committed Milestones on 2021 Roadmap Transformation investment to continue within previous €1.4bn envelope H1 Legacy mobile apps disabled New online browser for Banking 365 launched Digital journeys for 100% of new mortgages in Ireland Further self service enhancements in Wealth & Insurance H2 Financial Wellbeing: mobile app spending and card controls Biometrics recognition to log-in to mobile app Digital Money Manager to be launched National P2P instant mobile payments Customer Engagement Engine to better acquire and retain customers via personalised interactions Reduced Cost Improved Customer Satisfaction Bank of Ireland 11#12Proven track record of cost reduction; new €1.5bn target for 2023 Consistent Costs reduced by c.10% vs. 2017, despite underlying wage inflation and transformation investment Costs have reduced during each of the past six reporting periods Broad-based Cost reduction broad-based across staff and non-staff costs since 2017 FTE numbers down by c.10% since Dec 2017 Bank of Ireland 2020 Results Announcement Efficient €306m in gross cost savings since FY 2017 created capacity to absorb investment in our people and infrastructure Investment in systems and digitalisation support continued efficiencies (8%) (11%) IT & Digitisation €59m €25m €1900m €1852m €1785m €1695m Staff €78m €147m Non-staff Simplifying the organisation 2017 2018 Operating costs 2019 2020 One-off COVID-19 costs. Sourcing strategically Ways of Working €22m New €1.5bn 2023 cost target; existing momentum supports target €1.9bn >20% reduction €1.9bn €1.5bn €1.85bn €1.79bn €1.72bn <€1.65bn €1.5bn 2023 costs of €1.5bn; sustainable cost reduction enabled by strategic decisions - - Underpinned by successful voluntary redundancy programme, with c.1,450 FTE exits Simplifying and automating customer journeys Restructure of the UK Business Reduced property footprint, supported by modern and agile Ways of Working New branch strategy 2017 2018 2019 2020 2021 2023 Bank of Ireland 12#13Further strategic progress in the UK in 2020 Bank of Ireland 2020 Results Announcement Progress on UK repositioning continued in 2020 Underlying PBT Retail UK 2019 2020 • Net interest income £494m £497m Other income (£13m) (£2m) Costs (excl. intangibles) (£288m) (£263m) Operating profit £193m £224m¹ - Impairment (£71m) (£238m) JV income £30m (£1m) Underlying profit/(loss) £152m (£15m) Cost income ratio 60% 53% Loan book £24.8bn £24.5bn £19.1bn 1.75% £18.3bn 1.73% - Deposits NIM Stable net interest income; supported by rising margins on new mortgage lending, Q4 exit NIM of 1.82% Reduced operating costs by £25m or 9%; positive JAWS of 12% JV income, FX joint venture with PO, impacted by UK travel restrictions Balance sheet New lending volumes £1bn lower in 2020, reflecting improved business mix; c.£0.6bn of Bespoke mortgage lending since launch Reduction in lending volumes supported a £0.8bn reduction in more expensive deposits Further strategic actions to improve returns underway Northern Ireland strategic review complete Decision taken to materially restructure the business c.50% of branches to close; Northern Ireland initiatives over next 18 months will reduce NI gross costs by over 15% in the medium term² Simplification of product offering and physical footprint to align with GB strategy; leverage expertise in car finance and mortgages 1 Includes £8m goodwill intangible write-off 2 Before investment initiatives 2021 UK outlook • Loan book to reduce by c.10%; with reduced deposits • Margins in line with 2020 exit NIM • Operating costs to reduce c.3% Material reduction in impairment charges • Building blocks to increase UK returns remain Higher new lending margins . Reduced funding costs • Lower operating costs • Smaller balance sheet Bank of Ireland 13#14Wealth & Insurance business provides Group with unique platform to grow income 38% of Group Business Income c.€33bn Ireland Retail Personal Balances (15% y/y increase in potential AUM) Bank of Ireland 2020 Results Announcement 35% Bank channel penetration (+3% y/y) €19.8bn AUM (+3% y/y) • Unique proposition as Ireland's only universal bancassurer Market leading positions in life and pensions and savings In-house product manufacturing and distribution platforms Business model captures all economic value accruing from self-manufactured wealth and insurance product life cycles • Scale of business - - - Ireland's largest bancassurer and leading life and pensions company; >600k customers, including >250k wealth customers Embedded value €902m; +7% since 2018 Operating profit grew 11% per annum, 2017-2019, pre-COVID-19 Harnessing digital and in-house product manufacturing capabilities Group Pensions MyPension365; launched in 2020, c.€3bn of back book pension schemes to begin migrating in 2021 Key offering to grow share of estimated c. €160bn DC and DB Irish pension market Full E2E digitisation and automation; 90% reduction in on-boarding times . . • Digitally enabled platforms Digital advice platform; 45% of wealth transactions through direct or digital channels Digital Insurance Wallet; now generates 38% of general insurance policies, including 59% of motor policies Additional insurance partners being added to increase choice . • Ireland's only universal bancassurer Broad suite of in-house propositions to meet growing need for ESG and de- risking solutions for pensions Multi-product opportunities with mortgage and SME customers via further penetration (+c.12% since 2018 to 35%) Using lower risk propositions (€0.5bn AUM flows 2020) amid negative rate environment and increased savings Bank of Ireland 14#15Making good progress on Responsible and Sustainable Business¹ New RSB strategy "Investing in Tomorrow" launched Pillar 1 Enabling all colleagues to thrive Developing digital ability and employability Upskilling and reskilling An inclusive and diverse workplace 50:50 gender target for new leadership appointments Pillar 2 Enhancing Financial Wellbeing Increasing capability and inclusion Protecting the most vulnerable Enabling better financial decisions Improve customer Financial Wellbeing² Index to >70 Bank of Ireland 2020 Results Announcement Pillar 3 Supporting the Green Transition Setting Science Based Targets³ by 2022 Providing Sustainable Finance Transparently report progress Own operations Net Zero by 2030 RSB strategy built on Stakeholder Engagement Regulatory Expectations Impact Assessment Enhanced Governance Key achievements 2020 • Culture Embedding, +11 to 77%, 3% points ahead of the Global Financial Services benchmark ⚫ c.140k customer visits to Financial Wellbeing Hub, including c.60k financial health checks . ⚫ ⚫ Financial Wellbeing Index at 66 (+5 vs. Feb 2019) Enhanced Senior & Vulnerable supports for • over 10k customers in response to COVID-19 Development and launch of the Green Bond Framework; targeting inaugural trade in 2021 Sustainable Finance Fund increased to €2bn Climate risk integrated into frameworks and policies; exclusion policies on • ⚫ c.60% of colleagues registered on Wellbeing app Over 80% of colleagues engaged in self led digital learning . Ethnic Diversity and Female talent programmes launched under RISE and ACCELERATE initiatives 41% of senior appointments in 2020 were female, including 47% in H2 • Over 50% of Irish Secondary Schools participated in Youth Financial Literacy Programme Supported c.100k/ c.€10bn customer payment breaks • lending in place 77% reduction in carbon emissions intensity (on a 2011 baseline) across our Scope 1 and 2 emissions; supported by 100% renewable electricity in Ireland & NI Progress demonstrated by improvement in external benchmarking including S&P, Sustainalytics & CDP TCFD TASK FORCE ON BUSINESS CLIMATE-RELATED FINANCIAL DISCLOSURES THE LEADERS' GROUP ON SUSTAINABILITY UNEP PRINCIPLES FO WORKING RESPONSIBLY FINANCE RESPONSIBLE INITIATIVE BANKING 1 Full 'Investing in Tomorrow' RSB Strategy explained in Strategic Report section of the Group's 2020 Annual Report 2 National survey conducted by BOI covering saving, spending, borrowing and planning, scored on a 0-100 scale 3 Using methodology aligned with Partnership for Carbon Accounting Financials (PCAF) standards Bank of Ireland 15#16Empty#17Group CFO Myles O'Grady Bank of Ireland 2020 Results Announcement Bank of Ireland 17#182020 Financial Summary Bank of Ireland 2020 Results Announcement • • Underlying loss before tax €374m; return to profitability in H2 Total income 8% lower; stronger performance in H2 Costs reduced by 4% IFRS 9 impairment charge €1.1bn; at lower end of guidance range • Stable net lending • NPE ratio 5.7%; stable in H2 • Strong CET1 capital ratios; 14.9% (regulatory) and c.510bps above minimum requirements; 13.4% (fully loaded) Bank of Ireland 18#192020 Financials recovering in H2 Bank of Ireland 2020 Results Announcement Net interest income 2% lower vs. 2019 FY 20191 FY 2020 (€m) (Єm) Business income³ 21% lower; improved H2 performance Net interest income 2,167 2,115 Business income 666 561 4% reduction in operating expenses with further momentum in H2 Additional gains, valuation and other items 3 (56) Total income 2,836 2,620 Operating expenses (1,785) (1,720) Net impairment charge €1.1bn (H1 €0.9bn): Improving macro outlook since H1 Levies and Regulatory charges (117) (125) Impairment of intangibles and goodwill (12) Operating profit pre-impairment 934 763 Net impairment charges (215) (1,133) Share of associates/JVs 39 (4) • Underlying profit/(loss) before tax 758 (374) Non-core items (113) (386) Profit before tax 645 (760) FY 2019 FY 2020 Lower than expected payment break forbearance c.60% of charge related to performing loans Actual loss experience of €437m (H1 €321m) Non-core items include: Restructuring costs (including voluntary redundancy) €245m H1 impairment of intangible assets €136m Customer remediation €39m Net interest margin (NIM) Cost income ratio² Underlying earnings per share (€m) (€m) 2.14% 2.00% 63% 64% 52.4c (38.6c) 1 Comparative figures have been restated to reflect the impact of the voluntary change in the Group's accounting policy for interest income and interest expense on certain financial instruments 2 See slide 53 for calculation Bank of Ireland 3 Including share of associates/JVS 19#20Net interest income declines on surplus liquidity and low rate environment Net interest income / NIM Bank of Ireland 2020 Results Announcement €2,180m €2,167m €2,115m 286bps 282bps 281bps 23% 23% 26% (12bps) (19bps) (26bps) 2018 2019 2020 Loan asset spread¹ Liquid asset spread¹ Liquid assets as % of AIEAS 2.14% NIM movement (12bps) (4bps) 2bps 2.00% FY 2019 Liquid assets Structural hedge Lending mix FY 2020 20 20 Net interest income and NIM lower from surplus liquidity and low rates • Pricing discipline maintained across all portfolios Improved margins on new UK mortgage lending (+43bps in 2020 vs. 2019) Reduced yield on liquid assets and structural hedges the primary driver for income and margin decline - Liquid assets as a % of average interest earning assets increased to 26% in 2020 vs. 23% in 2019 Application of negative rates to business customers expanded to €8.5bn in 2020; further expansion in 2021 planned Reduction in funding costs of €31m in 2020; €55m on an annualised basis Lower wholesale funding costs (average wholesale funding yield c.30bps lower in 2020 vs. 2019) 1 Spread = Loan asset yield or Liquid asset (excl. NAMA bonds) yield less Group's average cost of funds Bank of Ireland#21Growth in new lending in H2 Group loan book movement €0.7bn €13.3bn (€14.0bn) Stable net lending €79.5bn (€1.1bn) (€1.8bn) €76.6bn Dec 19 Loan book New RCF Redemptions Impairment FX/ Other Lending activity Dec 20 Loan book New lending¹ and redemptions H1 vs. H2 2020 €6.9bn €7.1bn €7.5bn €5.8bn €3.0bn €2.4bn €1.5bn €1.1bn €3.0bn €2.3bn H1 20 H2 20 Retail Ireland Corporate Retail UK Redemptions 1 Excluding revolving credit facilities 2 On a constant currency basis Bank of Ireland 2020 Results Announcement Lending trends in 2020 • Overall loan book declined by €2.9bn due to FX and credit impairment • Gross new lending¹ of €13.3bn; down 19% vs. 2019² • Revolving credit facilities drawdowns finished the year at €0.7bn, down from a Q1 peak of €1.4bn • • Redemptions of €14bn; 3% lower than 2019 and reflect continued build up of liquidity Overall net lending stable in the year H2 new lending was 30% higher than H1 All divisions demonstrating solid recovery Strong Irish mortgage market performance; 25.5% share of an €8.4bn market UK mortgage market supported a 25% growth in UK lending compared to H1 21 21 Bank of Ireland#22Lower business income reflects lower economic activity FY 2019 (€m) FY 2020 (€m) Wealth and Insurance 277 214 . Retail Ireland 254 209 Retail UK (18) 6 Corporate and Treasury 154 139 Group Centre and other • (1) (7) Business Income 666 561 • Share of associates /JVs 39 (4) Total Business Income incl. JVs 705 557 Additional Gains 5 5 Valuation and other items (2) (61) Other Income 708 501 Bank of Ireland 2020 Results Announcement Lower business income reflects COVID-19 impact on economic activity • 23% decrease in Wealth and Insurance from lower sales and existing book experience 18% reduction in Retail Ireland from lower transaction fees and FX income Corporate and Treasury fee income reduced by 10% from lower underwriting income JVs €43m lower due to UK travel restrictions Valuation and other items charge of €61m; recovering from peak Q1 impact of €155m, as equity and bond markets recover 12% recovery in business income in H2, including share of associates and JVs H2 Business income incl. JVs recovering +12% €263m (€3m) €294m (€1m) • 14% increase in Wealth and Insurance • 3% increase in Retail Ireland • 7% growth in Corporate and Treasury €266m €295m H1 20 H2 20 Business income JVs JV income broadly flat and continues to be impacted by travel restrictions Bank of Ireland 22#23c.€1.7bn cost target achieved one year early; new €1.5bn target for 2023 Cost Movement €1,785m (€90m) €25m Bank of Ireland 2020 Results Announcement €65m / 4% net reduction reflects . Wage inflation of 2.6% • • . COVID-19 costs €25m; €90m / 5% reduction excluding COVID-19 costs Lower pension costs of €33m Transformation investment costs of €56m • €1,720m Lower depreciation charge 2019 Cost initiatives COVID-19 costs 2020 FY 2019 Non-core items (€m) FY 2020 (€m) • Cost of restructuring programme (59) (245) • Transformation Investment costs (55) (237) - Other restructuring charges (4) (8) Investment on internally generated computer software (136) • Customer redress charges (74) (39) Investment return on treasury stock held for policyholders (2) 9 Other 22 25 Total non-core items (113) (386) Non-core items • €245m business model restructuring charges include €189m relating to the voluntary redundancy programme, resulting in €114m reduction in annualised staff costs when completed €136m charge related to H1 impairment of intangible software assets Customer redress costs of €39m Transformation investment in 2020 €410m split across the income statement (14%), balance sheet (28%) and non-core items (58%) Bank of Ireland 23#24FY 2020 impairment charge €1.1bn; H1 €0.9bn FY 2020 IFRS 9 models macro-economic update €515m Updated IFRS 9 models incorporating latest macro- economic conditions and outlook Central scenarios' assume improving HPI and GDP. However domestic economy challenging and unemployment higher than H1 assumption Group management adjustment (including payment breaks) €181m Lower than expected forbearance on payment breaks at this stage Risk that impacted SME sectors and post payment break mortgage/consumer customers require longer term supports Ongoing COVID-19 restrictions impacting Bank of Ireland 2020 Results Announcement Actual loan loss experience €437m Actual loan loss experience: - Property and construction €270m, includes €253m related to legacy investment property positions Non-property SME and corporate €130m - Mortgage and consumer portfolios €22m 2021 Outlook Reflects positive impact of government support schemes management adjustment - Other financial assets €15m Subject to no further deterioration in the economic conditions or outlook, the majority of the credit impairment risk associated with COVID-19 has been captured; we expect the 2021 impairment charge to be materially lower than 2020 1 See slide 45 for 2021-2025 macro-economic assumptions used in IFRS 9 models Bank of Ireland 24 24#2545 25 Impairment coverage increased to 2.9% Net impairment charge €512m €388m €108m €76m €60m €57m €23m €30m €24m (€8m) Mortgages (UK) Non-property SME and corporate Property and construction Consumer Mortgages (Ireland) 2019 2020 Impairment loss allowance (ILA) by portfolio Bank of Ireland 2020 Results Announcement Impairment coverage increased from 1.6% to 2.9% Net impairment charge €1.1bn¹ / 134bps (FY 2019: 27bps) Dec 19 Dec 20 ILA % of ILA % of ILA ILA gross (€m) (€m) loans gross loans . Mortgages Ireland 369 1.6% 393 1.7% Mortgages UK 63 0.3% 86 0.4% Non-property SME and 487 2.4% 931 4.7% corporate Property and construction 230 2.8% 596 Consumer 159 2.8% 236 6.9% 4.5% Total 1,308 1.6% 2,242 2.9% Stage 1 impairment coverage 0.2% 0.6% Stage 2 impairment coverage 3.4% 3.5% 30.6% 30.1% Ireland mortgage impairment charge reflects macro-economic outlook offset by incorporation of additional external data on the Irish property market Non-property SME and corporate charge, 77% relating to performing loans, includes increased charge on higher impacted sectors and portfolios Property and construction charge primarily reflects loss emergence on a small number of legacy exposures c.60% of the charge is on performing loans reflecting macro-economic assumptions and management adjustment Actual loan loss experience €0.4bn / c.40% of charge ILA increased by 71% to €2.2bn with impairment coverage increasing across all portfolios Not included in the impairment charge is an additional €214m of calendar provisioning for aged NPEs taken as a direct deduction to capital in line with regulatory requirements Stage 3 impairment coverage 1 Net impairment charge €1,061m on loans and advances to customers, net impairment charge on other financial instruments €72m, total net impairment charge €1,133m Bank of Ireland#26Macro-economic conditions, outlook and loss experience driving stage migration €80.5bn¹ €3.1bn €5.6bn Gross loans by stage • €78.5bn¹ €4.5bn Bank of Ireland 2020 Results Announcement 1.6% €71.8bn Dec 19 Stage 1 Stage 2 Stage 3¹ ILA movement €15.8bn €58.2bn Dec 20 • 2.9% €366m €568m €2,242m Stage migration and stock of ILA €10.2bn increase in Stage 2 loans since 2019 reflecting deteriorated macro-economic outlook - - Non-property SME and corporate portfolio Stage 2 loans increased €6bn Property and construction Stage 2 loans increased €3.4bn Residential mortgages Stage 2 loans increased €0.8bn Stage 3 loans of €4.5bn; increase of €1.3bn since 2019 €0.9bn increase on implementation of new Definition of Default; remainder primarily from credit migration in corporate and property portfolios ILA increased by €0.9bn to €2.2bn since 2019 - €0.57bn increase on performing loan books €0.37bn increase in Stage 3 ILA from credit migration in non-property SME and corporate and property and construction portfolios €1,308m Dec 19 Stage 1/2 Stage 3 Dec 20 ⚫ILA % of gross loans 1 Includes Purchased or Originated Credit Impaired (POCI) loans of €0.1bn in 2019 and 2020 Bank of Ireland 26#27NPE ratio increases to 5.7% 6.3% 4.4% €5.0bn €3.5bn NPE movements €0.4bn €0.6bn . 5.7% €4.5bn Dec 18 Dec 19 Definition of Default Net Inflows Dec 20 NPE ratio NPEs by portfolio Dec 20 Coverage Ratio 26% Mortgages (Ireland) €1.5bn €1.5bn Non-property SME €0.9bn 88% and corporate €1.1bn Property and €0.6bn 54% construction €1.1bn Mortgages €0.5bn 13% (UK) €0.7bn Consumer €0.1bn (Ireland & UK) €0.1bn 1 See slide 39 2 See slide 46 Dec 19 Dec 20 Bank of Ireland 2020 Results Announcement • • Non-performing exposures • • NPES increased by €1.0bn and NPE ratio increased from 4.4% in 2019 to 5.7% in 2020 Broadly stable NPES in H2; government fiscal measures supportive Implementation of new Definition of Default regulatory framework increased NPEs by €0.6bn €0.4bn net inflows primarily from credit migration in property and construction portfolios Payment breaks; c.4k forbearance measures requested compared to initial c.100k payment breaks granted¹ No NPE transactions completed in 2020 due to market conditions Group NPE coverage ratio increased by 13% to 50% at Dec 2020 Proven track record of working with customers to implement sustainable solutions; significantly below industry average for arrears management² 27 27 Bank of Ireland#28Robust capital ratio performance despite COVID-19 Fully loaded CET1 ratio Bank of Ireland 2020 Results Announcement RWAS €49.9bn 13.8% 40bps (110bps) 125bps Impairment EL offset (230bps) 80bps RWA reduction 40bps Net impact (110bps) (20bps) 75bps (75bps) (65bps) (10bps) RWAS €48.0bn +10bps Regulatory capital 13.4% demand Dec 19 Organic capital Dividend removal Credit deterioration Loan growth/ RWA² Regulatory SME & Software Transformation Other / Pension change investment Dec 20 Headroom to 2021 CET1 regulatory capital requirements 2021 Regulatory Requirements (excl. P2G) 13.4% 9.77% 14.9% Dec 20 Fully Loaded CET1 Ratio Dec 20 Regulatory CET1 Ratio c.510bps headroom Strong Capital Position • Regulatory CET1 ratio 14.9% at Dec 2020, reduced 10bps in the year; supported by IFRS 9 addback which reduced impairment impact on the ratio Expected loss absorbed c.80bps of 2020 impairment charge RWAS reduced by c.€1.9bn, primarily driven by SME support factor and FX 2% reduction in RWA density driven by lower Ireland mortgage risk weights and benefit of SME support factor Previously guided 80bps impact of regulatory capital demand by end 2021 is now materially complete 1 Pre-impairment organic capital generation primarily consists of attributable profit excluding impairment and movements in regulatory deductions 2 Loan growth / RWA movements from changes in loan book mix, asset quality and movements in other RWAS Bank of Ireland 28#292021 outlook continues to be impacted by COVID-19 Bank of Ireland 2020 Results Announcement Profitability Asset Quality Capital 29 29 2021 total income expected to be broadly in line with 2020 reflecting: - - Lower net interest income Higher business income Lower charge for valuation items Costs will continue to reduce: 2021 costs <€1.65bn 2023 costs of €1.5bn Subject to no further deterioration in the economic conditions or outlook, the majority of the credit impairment risk associated with COVID-19 has been captured 2021 impairment charge to be materially lower than 2020 • 2021 CET1 ratios expected to remain broadly in line with December 2020 levels¹ Distributions to recommence on a prudent and progressive basis based on performance and capital position Medium term targets to be refreshed at strategy update later in the year 1 Excluding DTA/IFRS 9 phasing impacts on the Group's regulatory CET1 ratio Bank of Ireland#30Summary and conclusion Economic backdrop Capital Asset quality Bank of Ireland 2020 Results Announcement COVID-19 continues to impact, but Irish and UK economies expected to see reopening and a recovery in GDP in 2021, supported by the rollout of vaccine immunisation programmes Strong capital ratios and significant buffer to minimum requirements; distributions to recommence on a prudent and progressive basis based on performance and capital position Payment break performance better than expected with NPE stable in H2; continue to work with customers to find sustainable solutions Transformation Efficiency Retail UK Multi-year programme delivery against milestones; delivering agile, digitised solutions for customers and creating cost efficiencies Continued focus on targeting all cost efficiency opportunities; 2021 costs to be <€1.65bn with new 2023 cost target of €1.5bn Execution against UK strategy to continue, while strategic review of the Northern Ireland business will see material restructure and simplification of business model Bank of Ireland 30#31Empty#32Appendix Bank of Ireland 2020 Results Announcement 32 32 Bank of Ireland#33Appendix • BOI overview - customer loans / new lending volumes Ireland mortgage loan book Income Statement - Net interest income analysis - Structural hedge, liquid assets and negative rate deposits Interest rate sensitivity Asset Quality Payment breaks Non-performing exposures by portfolio Portfolio by stage Non-property SME and corporate by stage Residential mortgages & consumer loans Non-property SME and corporate & Property and construction Forward Looking Information - macro-economic scenarios Ireland Mortgages Capital and liquidity Ordinary shareholders' equity and TNAV Capital - CET1 ratios Regulatory capital requirements Risk weighted assets Transformation investment / operating expenses Cost income ratio: Dec 2020 Defined Benefit Pension Schemes Forward-Looking statement Contact details Bank of Ireland 2020 Results Announcement Slide No. 34 35 36 38 www 41 42 43 44 45 46 47 48 312 4 4 7 % 39 40 49 50 51 52 53 54 55 56 Bank of Ireland 33#34BOI Overview Composition (Dec 20) Mortgages Non-property SME and corporate SME Corporate Property and construction Investment Development Consumer Customer loans (gross) Geographic (%) €5.8bn €2.3bn Retail Ireland Bank of Ireland 2020 Results Announcement Profile of customer loans' at Dec 20 (Gross) Ireland UK RoW Total Total (€bn) (€bn) (€bn) (€bn) (%) 22.9 21.8 0.0 44.7 57% 10.6 5.0 4.3 19.9 25% 7.1 1.7 0.0 8.8 11% 3.5 3.3 4.3 11.1 14% 5.4 1.9 1.2 8.6 11% 4.7 1.7 1.2 7.6 10% 0.7 0.2 0.0 0.9 1% 2.0 3.3 0.0 5.3 7% 40.9 32.0 5.6 78.5 100% 52% 41% 7% 100% Gross new lending volumes £5.9bn €5.3bn €0.6bn €0.5bn Retail UK Corporate Banking £4.8bn €2.1bn €4.0bn £3.6bn £3.1bn €1.3bn €2.6bn² €0.7bn €1.2bn €1.3bn £2.1bn €0.3bn £1.4bn £0.4bn €0.9bn €0.7bn €0.Zon FY 2020 FY 2019 FY 2020 €2.9bn €2.7bn FY 2019 ■Mortgages Consumer 1 Based on geographic location of customer 2 Excludes revolving credit facilities £0.2bn FY 2019 Business Banking Property FY 2020 Corporate Ireland Acquisition Finance Corporate UK Bank of Ireland 34#35Ireland Mortgages: €22.9bn New Lending volumes and Market Share 27% €2.3bn 2018 24% €2.3bn €23.7bn 25.5% €9.5bn Bank of Ireland 2020 Results Announcement ROI Mortgages (gross) €23.0bn €22.9bn €11.2bn €12.2bn €4.4bn €3.2bn €2.9bn €2.1bn €9.8bn €8.7bn €7.9bn Dec 18 Dec 19 Dec 20 2019 2020 Market Share ■New Lending Volumes Tracker Variable Rates Fixed Rates • Pricing strategy • Fixed rate led mortgage pricing strategy which provides value, certainty and stability to our customers and to the Group Fixed rate products accounted for c.95% of our new lending in 2020, up from c.30% in 2014 Distribution strategy - continued expansion into broker channel • The Group has continued building out the broker channel expansion in 2020, establishing a large network of active brokers at a national level Wider proposition • • 6 in 10 Ireland customers who take out a new mortgage take out a life assurance policy through the Bank of Ireland Group 4 in 10 Ireland customers who take out a new mortgage take out a general insurance policy through the Bank of Ireland Group with insurance partners 1 Average customer pay rate of 111bps less Group average cost of funds of 32bps LTV profile Average LTV of 60% on mortgage stock at December 2020 (December 2019: 59%) Average LTV of 75% on new mortgages in 2020 (2019: 74%) Tracker mortgages • €7.5bn or 95% of trackers at December 2020 are on a capital and interest repayment basis 82% of trackers are Owner Occupier mortgages; 18% of trackers are Buy-to-Let mortgages Loan asset spread on ECB tracker mortgages was c.79bps' in 2020 Bank of Ireland 35#36Income Statement Net interest income analysis Bank of Ireland 2020 Results Announcement H1 2019 H2 2019 H1 2020 H2 2020 Average Gross Gross Volumes Interest Rate (€bn) (Єm) (%) Average Gross Volumes Interest (€bn) (€m) Ireland Loans¹ 34.2 582 3.43% 33.7 583 3.43% 33.4 Gross Average Gross Gross Average Gross Rate Volumes Interest Rate Volumes Interest (%) (€bn) (€m) (%) (€bn) (€m) 561 Gross Rate (%) 3.38% 33.0 546 3.29% UK Loans² 27.5 395 2.90% 28.0 393 2.79% 28.5 371 2.62% 27.1 349 2.56% C&T 2 15.8 296 3.78% 16.8 312 3.69% 17.4 309 3.57% 16.9 292 3.44% Total Loans and Advances to Customers 77.5 1,273 3.31% 78.5 1,288 3.26% 79.3 1,241 3.15% 77.0 1,187 3.07% Liquid Assets 22.9 33 0.29% 23.9 30 0.25% 26.6 16 0.12% 28.7 (5) (0.03%) NAMA Sub Debt 0.1 2 5.40% 0.1 2 5.26% 0.0 1 5.22% 0.0 (-) 0.00% Total Liquid Assets 23.0 35 0.31% 24.0 32 0.27% 26.6 17 0.13% 28.7 (5) (0.03%) Total Interest Earning Assets 100.5 1,308 2.62% 102.5 1,320 2.56% 105.9 1,258 2.36% 105.6 1,183 2.22% Ireland Deposits 20.7 (7) (0.07%) 21.0 (5) (0.05%) 21.3 (2) (0.02%) 21.6 (-) (0.00%) Credit Balances³ 34.5 3 0.02% 36.6 6 UK Deposits C&T Deposits 18.3 (91) (1.00%) 18.6 (103) 5.1 (9) (0.35%) 5.0 (9) Total Deposits 78.6 (104) Wholesale Funding4 10.3 (54) Subordinated Liabilities 2.0 (49) Total Interest Bearing Liabilities 90.9 Other5 (207) (22) (0.27%) 81.2 (1.06%) 9.9 (4.85%) 1.5 (0.46%) 92.6 (111) (62) (41) (214) 0.03% (1.09%) 18.7 (0.34%) 4.7 (0.27%) 84.2 (1.24%) 9.7 (5.44%) 1.5 (0.46%) 95.4 39.6 8 (90) 0.04% (0.97%) 16.5 43.8 12 0.06% (60) (0.72%) (4) (0.16%) 4.2 2 0.09% (88) (0.21%) 86.1 (46) (0.11%) (55) (1.13%) 9.1 (36) (0.78%) (34) (4.61%) 1.4 (28) (4.02%) (177) (0.37%) 96.6 (110) (0.23%) (18) (18) (20) Net Interest Margin as reported 100.5 1,079 Average ECB Base rate Average 3 month Euribor 2.16% 0.00% (0.31%) 102.5 1,088 2.11% 0.00% 105.9 1,063 2.02% 105.6 1,052 1.98% (0.40%) 0.00% (0.31%) 0.00% (0.50%) Average BOE Base rate Average 3 month LIBOR 0.75% 0.84% 0.75% 0.78% 0.36% 0.35% 0.10% 0.06% 1 Includes average interest earning assets of c.€0.3bn in 2020 carried at FVTPL with associated FY20 interest income of c.€12m 2 Previously, income and expense from GBP denominated derivatives in designated cash flow hedge and fair value hedge relationships was allocated to 'UK Loans'. This approach has been refined, and the allocation is now made with a portion of this allocated to 'C&T' (including prior year periods) to better represent the performance of each portfolio 3 Credit balances in H2 2020: Ireland €34.8bn, UK €4.1bn, C&T €4.9bn 4 Includes impact of credit risk transfer transactions executed in Dec 2016, Nov 2017 and Dec 2019 5 Includes IFRS 16 lease expense, interest on certain FVTPL items and adjustments that are of a non-recurring nature such as customer termination fees Bank of Ireland 36#37Structural hedge, liquid assets and negative rate deposits Bank of Ireland 2020 Results Announcement Interest income from structural hedge and liquid assets reducing from low interest rate environment Structural Hedge¹ Liquid Assets Structural hedge & liquid assets • Average volume €33.3bn €35.6bn €23.4bn €27.6bn €165m €124m €95m Interest €60m income €67m €70m €64m 2019 2020 2019 EUR GBP €13m 2020 Liquid Asset interest income Increased application of Negative Interest Rates delivering reduction in funding costs Year-end deposit volume on Negative Rates €2.7bn €8.5bn €55m €31m €18m €13m 2019 2020 Annualised reduction in funding costs Actual reduction in funding costs 1 Gross interest income from fixed leg of hedging swap - Average structural hedge volume in 2020 of €35.6bn (EUR 84%, GBP 16%); c.73% of equity and credit balances hedged and weighted average life of c.3.5 years In 2020, €4bn of hedges matured at 0.51% and were replaced at (0.40%) Liquid Asset income primarily impacted by higher liquid asset volumes at negative yields and the impact of lower EUR and GBP rates 2021 interest income from structural hedge and liquid assets is expected to reduce as the low interest rate environment persists Negative Interest Rates • • As a mitigant to the negative interest rate environment, the application of negative interest rates to non-personal customers was expanded during 2020 - - Volume of customer deposits on negative rates increased to €8.5bn at Dec 20 vs. €2.7bn Dec 19 Reduction in funding costs of €31m in 2020; €55m on an annualised basis The Group continues to evaluate options to expand the application of negative interest rates Bank of Ireland 37#38Interest Rate Sensitivity Bank of Ireland 2020 Results Announcement The table below shows the estimated sensitivity of the Group's income (before tax) to an instantaneous and sustained 1% parallel movement in interest rates Estimated sensitivity on Group income (1 year horizon) 100bps higher 100bps lower The above sensitivities are based on certain simplifying assumptions such as: • the assumption of a static balance sheet by size and composition; Dec 19 Dec 20 (€m) (Єm) c.210 c.220 (c.250) (c.220) . assets and liabilities whose pricing is mechanically linked to market / central bank rates are assumed to reprice accordingly; and the sensitivities should not be considered a forecast of future performance in these rate scenarios as they do not capture potential management action in response to unexpected changes in the interest rate environment. Bank of Ireland 38#39Bank of Ireland 2020 Results Announcement Payment Breaks Overview of total payment breaks granted and remaining outstanding as at 12 February 2021 Ireland Total payment breaks granted Total payment breaks exposure active Payment breaks Payment breaks exposure active % returned to pre-COVID-19 terms % of payment breaks active % with approved additional measures Mortgages 20k €3.0bn 0.4k €70m 95% 2% 3% Consumer 7k €0.1bn 0.0k €0m 95% 0% 5% SME¹ 12k €2.9bn 0.1k €67m 88% 1% 11% Total 39k €6.0bn 0.5k €137m 93% 1% 6% Total payment Total payment UK breaks granted breaks exposure active Payment breaks Payment breaks exposure active % returned to pre-COVID-19 terms % of payment breaks active % with approved additional measures Mortgages 22k €3.4bn 1.3k €212m 94% 6% 0% Consumer 32k €0.4bn 3.6k €41m 87% 11% 2% SME¹ 6k €0.3bn 0.1k €15m 97% 1% 2% Total 60k €4.1bn 5.0k €268m 90% 8% 2% 1 Includes retail business banking property exposures; BIF portfolio of c.€25m updated as at 31 January 2021 Bank of Ireland 39#40Non-performing exposures by portfolio Bank of Ireland 2020 Results Announcement 40 40 Advances Composition (Dec 20) (€bn) Non-performing exposures (€bn) Non-performing exposures as % Impairment loss allowance Impairment loss allowance as % of of advances (€bn) non-performing exposures Residential Mortgages 44.7 2.2 4.9% 0.5 22% - Ireland 22.9 1.5 6.6% 0.4 26% - UK 21.8 0.7 3.2% 0.1 13% Non-property SME and corporate 19.9 1.1 5.3% 0.9 88% - Ireland SME 7.1 0.7 9.7% 0.5 73% - UK SME 1.7 0.1 7.0% 0.1 58% - Corporate 11.1 0.3 2.3% 0.4 141% Property and construction - Investment - Development 871 8.6 1.1 12.7% 0.6 54% 7.6 1.1 13.9% 0.6 52% 1.0 0.0 3.5% 0.0 119% Consumer 5.3 0.1 2.8% 0.2 163% Total loans and advances to customers 78.5 4.5 5.7% 2.2 50% Non-performing Advances Composition (Dec 19) (€bn) exposures (€bn) Non-performing exposures as % of advances Impairment loss allowance Impairment loss (€bn) allowance as % of non-performing exposures Residential Mortgages 46.3 1.9 - Ireland 23.1 1.5 - UK 23.2 Non-property SME and corporate 20.4 - Ireland SME 7.3 - UK SME 1.7 - Corporate 11.4 Property and construction 8.1 - Investment 7.2 - Development 0.9 oooooooc 0.5 955 4.2% 0.4 22% 6.3% 0.3 25% 2.1% 0.1 13% 0.9 4.3% 0.5 55% 0.6 0.1 0.2 0.6 0.6 0.0 622669 7.5% 0.3 54% 6.3% 0.0 46% 2.0% 0.2 60% 7.3% 0.2 39% 7.7% 0.2 37% 3.8% 0.0 64% Consumer 5.7 0.1 1.7% 0.2 159% Total loans and advances to customers 80.5 3.5 4.4% 1.3 37% Bank of Ireland#41Portfolio by stage Composition (Dec 20) Sectoral Analysis by stage Residential Mortgages - Ireland - UK Non-property SME and corporate - Ireland SME - UK SME - Corporate Property and construction - Investment Bank of Ireland 2020 Results Announcement Gross carrying amount Impairment loss allowance ILA % (before impairment loss allowance) Stage 1 €m 40,016 Stage 2 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 POCI Total of gross loans €m €m €m €m €m €m €m €m €m 2,528 2,196 19,552 1,880 1,508 20,464 648 688 2 44,742 74 31 374 479 1.1% 2 22,942 43 20 329 393 1.7% 21,800 31 11 45 86 0.4% 10,637 8,181 1,014 19,858 134 368 416 13 931 4.7% 4,155 2,246 672 7,073 96 144 261 501 7.1% 1,064 612 114 1,790 9 37 26 72 4.0% 5,418 5,323 228 26 10,995 29 187 129 13 358 3.3% 2,639 4,869 1,021 62 8,591 9 126 442 19 596 6.9% 2,357 4,227 987 62 7,633 7 103 427 19 556 7.3% - Development 282 642 34 958 2 23 15 40 4.2% Consumer 4,961 165 145 5,271 129 27 80 236 4.5% - Motor Lending UK 1,798 71 31 1,900 10 5 13 28 1.5% - Loans UK 1,295 43 42 1,380 90 17 32 139 10.1% - Motor Lending Ireland 751 22 773 8 8 16 2.1% - Loans Ireland 678 42 33 753 18 4 17 39 5.2% - Credit Cards Ireland 439 9 17 465 3 1 10 14 3.0% Total 58,253 15,743 4,376 90 78,462 346 552 1,312 32 2,242 2.9% Composition (Dec 19) Gross carrying amount (before impairment loss allowance) Impairment loss allowance ILA % Sectoral Analysis by stage Stage 1 Stage 2 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 POCI Total of gross loans €m €m €m €m €m €m €m €m €m €m Residential Mortgages 42,898 1,677 1,693 3 46,271 16 36 380 432 0.9% - Ireland 20,610 1,133 1,289 3 23,035 7 22 340 369 1.6% - UK 22,288 544 404 - 23,236 Non-property SME and corporate 17,474 2,175 757 27 20,433 - Ireland SME 5,799 1,011 495 7,305 - UK SME 1,382 225 78 2 1,687 - Corporate 10,293 939 184 25 11,441 Property and construction 5,985 1,513 549 65 8,112 - Investment 5,418 1,251 519 65 7,253 - Development 567 262 30 859 Consumer 5,421 206 100 5,727 - Motor Lending UK 2,147 58 21 2,226 - Loans UK 1,232 40 24 1,296 - Motor Lending Ireland 821 14 835 -Loans Ireland 681 74 30 785 - Credit Cards Ireland 540 34 11 585 Total 71,778 5,571 3,099 95 80,543 2033265-7623242 9 14 40 63 0.3% 78 353 487 2.4% 39 225 297 4.1% 8 38 49 2.9% 31 90 141 1.2% 42 40 1 9 22223-1668 180 230 2.8% 162 209 2.9% 18 21 2.4% 63 159 2.8% 10 19 0.9% 17 21 80 6.2% 6 9 1.1% 19 34 4.3% 7 17 2.9% 976 2 1,308 1.6% Bank of Ireland 41#4242 42 Non-property SME and corporate by stage 1,2 Composition (Dec 20) Sectoral analysis by stage Non-property SME and corporate - Manufacturing Bank of Ireland 2020 Results Announcement Gross carrying amount Impairment loss allowance ILA % (before impairment loss allowance) Stage 1 Stage 2 Stage 3 POCI Total €m €m €m €m €m Stage 1 €m Stage 2 Stage 3 POCI of gross Total loans €m €m €m €m 2,076 1,742 82 3,900 19 - Administrative and support service activities 1,388 926 96 26 2,436 25 39 - Wholesale and retail trade 1,520 688 141 2,349 19 31 - Accommodation and food service activities 236 1,354 131 1,721 5 46 - Agriculture, forestry and fishing 1,187 352 132 1,671 16 - Human health services and social work activities 727 760 33 1,520 10 - Transport and storage 436 489 69 994 4 - Other services - Financial and insurance activities - Real estate activities - Arts, entertainment and recreation. - Education - Other sectors Total Composition (Dec 19) Sectoral analysis by stage Non-property SME and corporate - Manufacturing - Wholesale and retail trade - Administrative and support service activities 431 370 119 920 3 - Professional, scientific and technical activities 475 216 15 706 7 588 85 23 696 4 308 190 89 587 12 78 389 62 529 1 311 99 1 411 2 876 521 21 1,418 7 10,637 8,181 1,014 26 19,858 134 368 BETZEDER5757-82 5252502606 36 13 wi 130 3.3% 132 5.4% 127 5.4% 40 91 5.3% 35 67 4.0% 10 75 4.9% 42 69 6.9% 48 66 7.2% 21 3.0% 16 2.3% 35 17 1 57 9.7% 38 7.2% 9 2.2% 33 2.3% 416 13 931 4.7% Gross carrying amount (before impairment loss allowance) Impairment loss allowance ILA % Stage 1 Stage 2 Stage 3 POCI Total €m €m €m €m €m Stage 1 €m Stage 2 Stage 3 POCI Total of gross loans €m €m €m €m 3,963 356 99 2,031 327 129 1,987 142 - Agriculture, forestry and fishing 1,523 127 - Accommodation and food service activities 1,476 193 - Human health services and social work activities 1,018 414 - Transport and storage 902 137 - Other services 778 98 - Financial and insurance activities 662 14 - Professional, scientific and technical activities 597 67 - Real estate activities 435 90 - Arts, entertainment and recreation 364 62 - Education 426 8 - Electricity, gas, steam and air conditioning supply 363 38 - Other sectors 949 102 226220422202-32 4,418 1 2,488 67 25 2,221 94 1 1,745 49 1,718 1,462 08773 4 10 1,085 3 999 19 695 1 9 673 2 585 3 18 444 1 435 1 404 1 10 1,061 3 IOS5655713531-25 41 10 29 16216527 62 1.4% 63 81 3.3% 39 51 2.3% 41 2.3% 19 28 1.6% 41 2.8% 34 42 3.9% 60 6.0% 7 1.0% 10 1.5% 35 6.0% 11 2.5% 1 2 0.5% 2 4 1.0% 7 12 1.1% Total 17,474 2,175 757 27 20,433 56 78 353 487 2.4% 1 The Non-property SME and corporate portfolio is analysed by NACE code. The NACE code classification system is a pan-European classification system that groups organisations according to their business activities Bank of Ireland 2 Exposures to NACE codes totalling less than €400 million are grouped together as 'Other sectors'. The NACE codes reported in the table above can therefore differ period on period#43Residential Mortgages & Consumer Loans Gross loans by stage Residential Mortgages Consumer Bank of Ireland 2020 Results Announcement Residential mortgages • €46.3bn €44.7bn €1.7bn €2.2bn €1.7bn €5.7bn €2.5bn €5.3bn €0.1bn €0.1bn • €0.2bn €0.2bn €42.9bn €40.0bn €5.4bn • €5.0bn Dec 19 Dec 20 Dec 19 ■Stage 1 Stage 2 Stage 3 Dec 20 ■Stage 1 Stage 2 Stage 3 • Mortgage portfolios 57% of Group loan book - Average LTV of 60% on stock 83% of the portfolio has LTV <80% Implementation of new Definition of Default regulatory framework driving increase in Stage 3 loans €47m impairment loss allowance increase largely on performing loans including management adjustment Impairment coverage increased from 0.9% at Dec 2019 to 1.1% at Dec 2020 ILA movement Consumer Residential Mortgages 0.9% €432m €53m (€6m) 1.1% 2.8% €479m €159m €60m €17m 4.5% €236m Dec 19 Stage 1/2 Stage 3 Dec 20 Dec 19 Stage 1/2 Stage 3 ILA % of gross loans Dec 20 Consumer • 7% of Group loan book; exit of UK Credit Cards in 2019 €2.0bn Ireland exposure; €0.8bn motor, €0.8bn consumer loans, €0.5bn credit cards - €3.3bn UK exposure; €1.9bn motor, €1.4bn consumer loans €77m impairment loss allowance increase largely on performing loans including management adjustment Impairment coverage increased from 2.8% to 4.5% at Dec 2020 Bank of Ireland 43 43#44Non-property SME and Corporate & Property and Construction Gross loans by stage Non-property SME and corporate Property and construction • €20.4bn €19.9bn €0.8bn €1.0bn €2.2bn €8.2bn €8.1bn €8.6bn €17.4bn €0.6bn €1.1bn €1.5bn €10.6bn €4.9bn €6.0bn €2.6bn Dec 19 Dec 20 Stage 1 Stage 2 Stage 3 ILA movement Dec 19 Dec 20 ■Stage 1 Stage 2 Stage 3 Non-property SME and corporate Property and construction 2.4% 4.7% 2.8% €76m €368m €487m €931m Dec 19 Stage 1/2 Stage 3 Dec 20 €230m €87m €279m Dec 19 Stage 1/2 Stage 3 ●ILA % of gross loans • 6.9% €596m Dec 20 Bank of Ireland 2020 Results Announcement Non-property SME and corporate 25% of Group loan book, well diversified by geography and sector €6.0bn increase in Stage 2 loans since Dec 2019 reflecting macro-economic conditions and outlook on higher impacted sectors Increased impairment coverage across higher impacted sectors and portfolios: - - Wholesale and retail trade exposure €2.3bn, impairment coverage 5% (Dec 19:3%) Accommodation and food services exposure €1.7bn, impairment coverage 5% (Dec 2019: 2%) Acquisition finance exposure €4.5bn, impairment coverage 4.2% (Dec 2019: 1.3%) Impairment coverage increased from 2.4% to 4.7% at Dec 2020 Property and construction • • • 11% of Group loan book; €7.6bn investment property; €1.0bn development lending c.43% of investment property exposures in Dublin; c.29% UK exposures Investment property exposures Retail (34%), Office (34%), Residential (21%) and Other (11%); 69% of the book LTV <70% Legacy investment property exposures driving €279m increase in Stage 3 ILA Impairment coverage increased from 2.8% to 6.9% at Dec 2020 Bank of Ireland 44#45Forward Looking Information - macro-economic scenarios Bank of Ireland 2020 Results Announcement 45 45 Republic of Ireland United Kingdom GDP growth¹ 31 Dec 2020 Central scenario 1 - 45% probability weighting GNP growth¹ Unemployment rate² 2021 2022 2023-2025 2021 2022 2023-2025 5.1% 3.6% 3.0% 6.3% 4.0% 1.9% 5.1% 3.4% 2.8% n/a n/a n/a 10.2% 5.9% 5.3% 7.1% 6.0% 4.7% Residential property price growth³ (3.0%) 0.0% 1.7% (3.0%) (1.0%) 2.0% Commercial property price growth³ (4.5%) 0.0% 1.0% (3.5%) 0.0% 0.8% Central scenario 2-5% probability weighting 2.8% GDP growth¹ 2.7% 3.7% 2.9% 4.3% 2.1% n/a GNP growth¹ 1.6% 3.5% 2.8% n/a n/a 6.2% Unemployment rate² 10.7% 8.1% 5.5% 7.3% 4.9% Residential property price growth³ (4.0%) 0.0% 1.7% (4.0%) (1.5%) 2.2% Commercial property price growth³ (5.5%) 1.0% 1.0% (5.0%) (1.5%) 1.0% Upside - 20% probability weighting GDP growth¹ GNP growth¹ Unemployment rate² 4.3% 8.1% 3.9% 3.2% 9.3% 2.1% n/a 8.3% 3.7% 3.0% n/a n/a 9.1% 4.7% 4.2% 5.9% 4.8% 3.9% 0.0% Residential property price growth³ (1.0%) 1.0% 2.0% (1.0%) 2.7% 1.0% Commercial property price growth³ (2.0%) 1.5% 1.0% (1.5%) 1.0% Downside scenario 1 - 25% probability weighting GDP growth¹ (1.9%) 3.5% 2.8% (1.0%) 2.4% 1.8% n/a GNP growth¹ (3.0%) 3.3% 2.6% n/a n/a 9.2% Unemployment rate² 12.9% 10.5% 8.2% 9.8% 7.8% Residential property price growth³ (5.0%) (2.0%) 1.3% (7.0%) (4.0%) 1.0% Commercial property price growth³ (7.0%) (1.0%) 0.8% (7.0%) (2.5%) 0.8% Downside scenario 2-5% probability weighting GDP growth¹ (2.1%) (1.0%) 2.5% (1.5%) (1.0%) 1.5% n/a GNP growth¹ (3.2%) (1.2%) 2.3% n/a n/a Unemployment rate² 14.0% 14.3% 11.7% 11.1% 10.5% 10.2% Residential property price growth³ (5.0%) (4.0%) 0.7% (6.0%) (8.0%) 0.0% Commercial property price growth³ (9.0%) (4.0%) 0.3% (8.0%) (4.0%) 0.3% 1 Annual growth rate 2 Average yearly rate 3 Year-end figures Bank of Ireland#4646 46 Ireland Mortgages Continued proactive arrears management Industry Average >90 days arrears¹ Industry Average 16.0% Bank of Ireland 6.4% 1.9% Owner Occupier Owner Occupier Bank of Ireland 4.1% Buy to let Buy to let >90 days arrears • Bank of Ireland 2020 Results Announcement Bank of Ireland is significantly below the industry average for both Owner Occupier (30% of industry average) and Buy to Let (26% of industry average) >720 days arrears • Bank of Ireland is significantly below the industry average for both Owner Occupier (24% of industry average) and Buy to Let (18% of industry average) >720 days arrears¹ Industry Average Industry Average 12.0% Bank of Ireland Bank of Ireland 4.2% 1.0% 2.2% Owner Occupier Owner Occupier Buy to let Buy to let 1 As at September 2020, based on number of accounts, industry average excluding BOI Bank of Ireland#47Capital and liquidity Bank of Ireland 2020 Results Announcement Liquidity Dec 2019 Dec 2020 (€bn) (€bn) Customer loans Liquid assets Other assets Total assets 79 77 27 31 26 26 132 134 Customer deposits 84 89 Wholesale funding 11 9 . Shareholders' equity 10 9 Other liabilities 27 27 . Total liabilities 132 134 • TNAV per share €8.21 €7.32 Closing EUR/GBP FX rates 0.85 0.90 Dec 2019 Dec 2020 . Liquidity Coverage Ratio 138% 153% Net Stable Funding Ratio 131% 138% Funding and liquidity remains strong from stable customer deposits and MREL issuance Customer deposits: €88.6bn Growth of €4.6bn principally due to the impact of COVID-19 restrictions and lower consumer spending Wholesale funding: €8.8bn AT1 issuance of €975m during 2020 MREL ratio of 24.6% at Dec 2020 Jan 2022 interim MREL requirement 24.95%; Jan 2024 MREL requirement of c.28% MREL eligible senior debt issuance of c.€1bn - €2bn p.a. anticipated Leverage Ratio Fully Loaded Leverage Ratio: 6.4% Regulatory Leverage Ratio: 7.1% Tangible Net Asset Value Loan to Deposit Ratio 95% 86% • TNAV decreased to €7.32 Bank of Ireland 47#48Ordinary shareholders' equity and TNAV Bank of Ireland 2020 Results Announcement Movement in ordinary shareholders' equity Ordinary shareholders' equity at beginning of period Movements: Profit (Loss) attributable to shareholders Dividend paid to ordinary shareholders Distribution on other equity instruments - additional tier 1 coupon (net of tax) Re-measurement of the net defined benefit pension liability Debt instruments at FVOCI reserve movements Cash flow hedge reserve movement Foreign exchange movements Other movements Ordinary shareholders' equity at end of period Tangible net asset value 2019 2020 (€m) (€m) 9,243 9,625 448 (707) (173) (60) 39 (80) 26 5 (5) (12) 132 (174) (85) (10) 9,625 8,587 2019 Dec 20 (€m) (€m) Ordinary shareholders' equity at the end of period 9,625 8,587 Adjustments: Intangible assets and goodwill (838) (751) Own stock held for benefit of life assurance policyholders 30 25 Tangible net asset value (TNAV) 8,817 7,861 Number of ordinary shares in issue at the end of the period excluding treasury shares TNAV per share (€) 1,074 1,074 €8.21 €7.32 48 48 Bank of Ireland#49Capital - Strong fully loaded and regulatory CET1 ratios Bank of Ireland 2020 Results Announcement Capital ratios - Dec 2020 Total equity Less Additional Tier 1 Deferred tax Intangible assets and goodwill Foreseeable dividend Expected loss deduction Pension Fund Asset IFRS 9 Regulatory Addback Other items¹ Common Equity Tier 1 Capital Credit RWA Operational RWA Market, Counterparty Credit Risk and Securitisations Other Assets / 10% / 15% /threshold deduction Total RWA Common Equity Tier 1 ratio Total Capital Ratio Leverage ratio Phasing impacts on Regulatory ratio 49 49 Regulatory ratio Fully loaded ratio (€bn) (€bn) 9.6 9.6 (1.0) (1.0) (0.7) (1.1) (0.5) (0.5) 0.0 0.0 (0.1) 0.0 (0.1) (0.1) 0.4 0.0 (0.4) (0.5) 7.2 6.4 38.0 37.8 4.2 4.2 2.2 2.2 3.9 3.7 48.4 48.0 14.9% 13.4% 19.2% 18.0% 7.1% 6.4% • . Deferred tax assets - certain DTAs² are deducted at a rate of 60% for 2020, increasing annually at a rate of 10% thereafter until 2024 IFRS 93 - the Group has elected to apply the transitional arrangement. The transitional arrangement allows a 100% addback for impairment charges on Stage 1 and 2 loans in 2020 and 2021, decreasing to 75%, 50%, and 25% in subsequent years 1 Includes other capital deductions, principal ones being prudential valuation adjustment; 10% / 15% deduction and calendar provisioning deduction 2 Deferred tax assets due to temporary differences are included in other RWA with a 250% risk weighting applied 3 This includes an addback for the day one impact of IFRS 9 of 70% in 2020, decreasing to 50% and 25% in subsequent years Bank of Ireland#50Regulatory Capital Requirements Bank of Ireland 2020 Results Announcement 50 50 Pro forma CET1 Regulatory Capital Requirements 2019 2020 2021 Pillar 1 CET1 4.50% 4.50% 4.50% Pillar 2 Requirement (P2R) 2.25% 1.27% 1.27% Capital Conservation Buffer (CCB) 2.50% 2.50% 2.50% Ireland Countercyclical buffer (CCyB) UK Countercyclical buffer (CCYB) O-SII Buffer (phase in July each year) Systemic Risk Buffer - Ireland Pro forma Minimum CET1 Regulatory Requirements Pillar 2 Guidance (P2G) 0.60% 0.00% 0.00% 0.30% 0.00% 0.00% 0.50% 1.00% 1.50% 10.65% 9.27% 9.77% Not disclosed in line with regulatory preference • Regulatory Capital Requirements The Group's 2021 regulatory CET1 requirement, excluding P2G, has reduced by 188bps to 9.77% CET1 headroom of c.510bps to Dec 2021 regulatory capital requirements of 9.77% Regulatory total capital ratio of 19.2% at Dec 2020 provides headroom of c.495bps above 2021 total capital requirement of 14.25% Bank of Ireland#51Risk Weighted Assets (RWAs) / Leverage Ratio Customer lending average credit risk weights - Dec 20201/2 (Based on regulatory exposure class) Bank of Ireland 2020 Results Announcement EBA Transparency Exercise 2020 Country by Country Average IRB risk weights EAD³ RWA (€bn) (€bn) Avg. Risk Weight Residential Mortgages - Jun 2020 Sweden 4.2% Netherlands 10.2% Austria 10.4% Ireland Mortgages 23.6 6.3 27% United Kingdom 10.7% UK Mortgages 22.6 4.5 20% Belgium 12.0% France 12.3% SME 17.3 12.1 70% Denmark 14.4% Spain 14.5% Corporate 10.3 10.3 99% Germany 14.7% Other Retail 5.9 4.2 71% Portugal 16.9% Finland 20.1% Italy 20.3% Customer lending credit risk 79.8 37.4 47% Norway 21.1% Ireland 29.7% . IRB approach accounts for: . 66% of credit EAD (Dec 19: 69%) 73% of credit RWA (Dec 19: 73%) Regulatory RWA has decreased from €50.1bn at Dec 2019 to €48.4bn at Dec 2020. The decrease is primarily due to the impact of regulatory change being offset by reductions in RWA from the application of revised SME Supporting Factor, impact of changes in asset quality and foreign exchange movements Leverage Ratio • Fully Loaded Leverage Ratio: 6.4% Regulatory Leverage Ratio: 7.1% EBA Risk Dashboard - Jun 2020 Country by Country Average Regulatory Leverage ratios Sweden 4.2% Netherlands 4.6% Denmark 4.7% Germany 4.8% France 5.0% United Kingdom 5.1% Spain 5.3% Finland 5.4% Italy 6.0% Belgium 6.0% Norway 6.6% Austria 6.6% Portugal Ireland 7.2% 9.4% 1 EAD and RWA include both IRB and Standardised approaches and comprise both non-defaulted and defaulted loans 2 Securitised exposures are excluded from the table (i.e. excludes exposures included in CRT executed in Nov 2017 and Dec 2019) 3 Exposure at default (EAD) is a regulatory estimate of credit risk exposure consisting of both on balance exposures and off balance sheet commitments Bank of Ireland 51#5252 62 Transformation Investment / Operating expenses Transformation Investment: €1.4bn (2016-2021) Average of €275m p.a. €410m €306m €263m €195m €105m 2016 2017 2018 2019 2020 2021 Bank of Ireland 2020 Results Announcement Transformation Investment • Average annual investment of €275m from 2018-2021; equates to CET1 capital of c.50-60bps Investment of €410m in 2020 split across the income statement (14%), balance sheet (28%) and non-core items (58%) Total transformation investment of €1.4bn 2016- 2021 unchanged. 2021 target for operating expenses <€1.65bn FY 2019 FY 2020 Operating Expenses Total staff costs - Staff costs - Pension costs (€m) (€m) 844 826 710 725 134 101 Other costs 544 585 Depreciation and amortisation 289 253 Operating Expenses 1,677 1,664 Transformation Investment charge 108 56 Operating Expenses (before levies and 1,785 1,720 regulatory charges) Levies and Regulatory charges 117 125 Impairment of intangibles and goodwill 12 Total Operating Expenses 1,902 1,857 Average staff numbers 10,424 10,303 Cost income ratio¹ 63% 64% Bank of Ireland 1 See slide 53 for additional detail#53Cost income ratio: Dec 2020 Headline vs. Adjusted Bank of Ireland 2020 Results Announcement FY 2020 Headline (€m) Pro forma adjustments (€m) FY 2020 Pro forma (€m) 2,115 561 561 5 (5) (61) 61 2,620 56 2,676 Net interest income Other income - Business income - Additional gains - Other valuation items Total Income Costs - Operating expenses - Transformation Investment Costs Cost income ratio 2,115 1,664 56 1,720 66% • Cost income ratio excludes: - - Levies and Regulatory charges Non-core items • I I 1,664 56 1,720 64% 2020 adjusted cost income ratio is adjusted for: Additional gains and valuation items €56m - 53 Bank of Ireland#54Defined Benefit Pension Schemes Group IAS19 Defined Benefit Pension (Deficit) / Surplus €313m 1.60% 2.10% 2.00% Bank of Ireland 2020 Results Announcement Total Group Defined Benefit Pension Scheme Assets (%) €7.1bn €7.2bn €7.2bn €8.4bn €8.9bn 1.30% 0.80% 58% 55% 65% 65% 69% (€0.23bn) (€0.14bn) (€0.13bn) 17% 21% (€0.48bn) 23% 23% 21% 25% 24% 12% 12% 10% Dec 17 Dec 18 Dec 19 Dec 20 Jun 16 Dec 18 Dec 19 Dec 20 ■IAS19 DB Pension (Deficit) / Surplus EUR Discount Rate (€1.19bn) Jun 16 IAS19 Pension Deficit Sensitivities (Jun 2016 / Dec 2017 / Dec 2018 / Dec 2019 / Dec 2020) €118m €102m €109m 88m Interest Rates¹ €173m €162m €153m €181m €196m Credit Spreads² €122m €128m €71m €90m €102m €121m €28m €28m €38m €22m Inflation³ Global Equity4 1 Sensitivity of Group deficit to a 0.25% decrease in interest rates 2 Sensitivity of IAS19 liabilities to a 0.10% decrease in credit spread over risk free rates 3 Sensitivity of Group deficit to a 0.10% increase in long term inflation 4 Sensitivity of deficit to a 5% decrease in global equity markets with allowance for other correlated diversified asset classes . . • Dec 17 Listed equities 'Diversified assets includes infrastructure, private equity, hedge funds and property Diversified assets' Credit / LDI / Hedging IAS19 pension deficit of €0.13bn at Dec 2020 (€0.14bn deficit Dec 2019). Schemes in deficit €0.29bn, schemes in surplus €0.16bn Both euro and sterling discount rates decreased over the year, primarily due to falls in long term risk free interest rates. The credit spread component of the discount rate remained largely unchanged over the period The interest rate hedging in the investment portfolios largely compensated for the impact of the reduction in risk free rates Long term euro inflation assumptions also decreased in the period with the reduction in liabilities partially offset by the reduction in inflation hedging assets De-risking strategies in recent years have also reduced the schemes' exposure to global equity movements. Listed equity asset holdings have been reduced in favour of increases in diversified assets and credit / LDI / hedging allocations Bank of Ireland 54#55Forward-Looking statement Bank of Ireland 2020 Results Announcement This document contains forward-looking statements with respect to certain of the Bank of Ireland Group plc (the 'Company' or 'BOIG plc') and its subsidiaries' (collectively the 'Group' or 'BOIG plc Group') plans and its current goals and expectations relating to its future financial condition and performance, the markets in which it operates and its future capital requirements. These forward-looking statements often can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as 'may,' 'could,' 'should,' 'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'assume,' 'believe,' 'plan,' 'seek,' 'continue,' 'target,' 'goal,' 'would,' or their negative variations or similar expressions identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others: statements regarding the Group's near term and longer term future capital requirements and ratios, level of ownership by the Irish Government, loan to deposit ratios, expected impairment charges, the level of the Group's assets, the Group's financial position, future income, business strategy, projected costs, margins, future payment of dividends, the implementation of changes in respect of certain of the Group's pension schemes, estimates of capital expenditures, discussions with Irish, United Kingdom, European and other regulators and plans and objectives for future operations. Such forward-looking statements are inherently subject to risks and uncertainties, and hence actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, those as set out in the Risk Management Report in the Group's Annual Report for the year ended 31 December 2020. Investors should also read 'Principal Risks and Uncertainties' in the Group's Annual Report for the year ended 31 December 2020 beginning on page 135. Nothing in this document should be considered to be a forecast of future profitability, dividends or financial position of the Group and none of the information in this document is or is intended to be a profit forecast, dividend forecast or profit estimate. Any forward-looking statement speaks only as at the date it is made. The Group does not undertake to release publicly any revision to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date hereof. Bank of Ireland 55#56Contact Details For further information please contact: Bank of Ireland 2020 Results Announcement . Group Chief Financial Officer tel: +353 12 50 8900 ext. 43291 Myles O'Grady Investor Relations Darach O'Leary Owen Callan Philip O'Sullivan Catriona Hickey Group Treasury Tony Morley Alan Elliott Alan McNamara tel: +353 12 50 8900 ext. 44711 tel: +353 12 50 8900 ext. 45092 tel: +353 12 50 8900 ext. 35328 tel: +353 12 50 8900 ext. 49051 tel: +353 12 50 8900 ext. 41974 tel: +353 12 50 8900 ext. 44371 tel: +353 12 50 8900 ext. 48725 Group Communications Damien Garvey tel: +353 12 50 8900 ext. 46716 Investor Relations website www.bankofireland.com/investor [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Bank of Ireland 56#57Empty#58Empty#59Empty#60Empty