Bank of Ireland Group (BIRG) investor relations material

Executive summary

• Strong Q1 performance driven by disciplined execution, franchise breadth, and resilience in the Irish economy.

• Loans grew 5% annualized to €83.6bn; Irish franchise loans up 8%; deposits remained strong at €107.2bn.

• Wealth and insurance net inflows reached €1.1bn, with robust asset quality and high capital generation.

• Strategic priorities focus on Irish growth, capital optimization, and future investment to drive top-line growth and returns through 2028.

Financial highlights

• Net interest income (NII) for Q1 was flat year-over-year, with guidance reaffirmed at €3.4bn for 2026.

• NII expected to exceed €3.6bn in 2027 and €3.85bn in 2028, based on current rate assumptions.

• Customer deposits at €107.2bn, flat due to seasonal effects, with expected growth in subsequent quarters.

• Mortgage market share held at 41% in Q1, supporting strong lending growth.

• Operating and restructuring costs rose by ~2% year-over-year; Q1 included €94m in regulatory fees.

Outlook and guidance

• All 2026 guidance and financial targets reaffirmed, including NII of ~€3.4bn, statutory ROTE above 12.5%, and mid-to-high teens annual EPS growth.

• Cost income ratio expected to remain flat versus 2025; impairment charge to be low-to-mid 20bps.

• Expectation of continued strong asset quality and volume growth, underpinned by resilient Irish economy.

• Mortgage book expected to grow, supported by increased housing completions and system growth.

• Strong net organic capital generation of ~250bps expected for 2026.