2018 Credit Presentation

Corporate Structure BOIG established in 2017 Bank of Ireland Group plc (BOIG) Bank of Ireland Group AT1 Tier 2 Senior unsecured Unchanged Corporate Structure New HoldCo 100% 100% The Governor and Company of the Bank of Ireland (GovCo) Bank of Ireland O 100% Senior unsecured 100% New Ireland Assurance Company plc Bank of Ireland Mortgage Bank (BOIMB) Bank of Ireland (UK) plc NEW IRELAND ANNURANCE Bank of Ireland For small steps, for big steps, for life Bank of Ireland UK Irish Covered Bonds (ACS) 2018 Credit Presentation Preferred resolution strategy for the Group consists of a Single Point of Entry (SPE) bail-in strategy through the Group holding company (BOIG) Transparent and well-defined resolution strategy in comparison to other jurisdictions BOIG introduced on top of the existing group structure supporting an SPE preferred resolution strategy No change to any of the Group's existing operating companies Bail-in at BOIG is the primary resolution tool. MREL requirements are expected to be met through junior and senior issuance from BOIG Losses are passed to BOIG by the write-down of intragroup assets. BOIG investors bear losses in accordance with the resolution² hierarchy. Resolution authorities required to apply the "No Creditor worse off" principle in application of the bail-in tool Funding requirements may also continue to be met, as required, through the issue of Irish Covered Bonds (ACS) by Bank of Ireland Mortgage Bank and senior unsecured issuance by GovCo 1 100% shareholding via intermediate holding company 2 Per Regulations 87 and 96 of the European Union (Bank Recovery and Resolution) Regulations 2015 Bank of Ireland Capital/MREL Funding 19

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