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Capital Markets Day AIB 9 March 2017 Important Information and - PowerPoint PPT Presentation

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Capital Markets Day AIB 9 March 2017 Important Information and Forward Looking Statement This presentation should be considered with AIBs Annual Financial Report 2016, Half-Yearly Financial Report 2016, Trading Update December 2016 and all

  1. Strong Franchise with Competitive Market Position Retail & Commercial Banking (1) Wholesale, Institutional & Corporate Banking (1) AIB UK – AIB GB & Northern Ireland • >360k retail and SME customers Corporate Banking – relationship-driven model Largest retail and commercial bank in Ireland • • • FTB – focused challenger in NI with sector specialisms 2.3m personal & SME customers • • GB – Niche business Real Estate Finance – centralised origination No. 1 distribution network with 297 locations and An Post bank • • NI – First Trust AIB GB and management partnership Specialised Finance – structured finance, Leading market shares and leading position in digital • • Group Treasury & Support Functions mezzanine finance enablement Syndicated & International Finance Multi-brand approach • • Treasury activities • Central control & support functions • Net Customer Loans by Segment Net Customer Loans by Product Operating Profit by Segment UK UK Residential Non-Property 11% 15% Mortgages Business WIB 55% 27% WIB 18% RCB 15% Property & 71% Other RCB Construction Personal 70% 13% 5% FY 2016 Total: €61.0bn (2) FY 2016 Total: €1.3bn (2,3) FY 2016 Total: €61.0bn (2) Source: Company information (1) RCB = Retail & Commercial Banking, WIB = Wholesale, Institutional & Corporate Banking (2) Due to rounding, sum of values in pie charts may not equal total net loans figure shown Page 8 (3) Pre-provision Operating Profit (Before Group Treasury and Services)

  2. Four Pillar Strategy Driving Sustainable Performance Focused on Delivering Long Term Shareholder Outcomes We will be at the heart of our customers’ financial lives by always being useful, always informing and always providing an exceptional customer experience. Strategic Ambition We will deliver a bank with compelling, sustainable capital returns and a considered, transparent and controlled risk profile. Four Pillars of Strategic Customer First Simple and Efficient Risk and Capital Management Talent and Culture Plan Targeted Shareholder Strong Customer Franchise Capital Accretion & Capital Return Sustainable Long-Term Growth Outcomes Source: Company information Page 9

  3. Established Capabilities to Deliver Growth New Management Team Investment in the network, Leading banking franchise in who has re-defined and the brand, the people, the Ireland with a young dynamic re-developed the systems and proven customer base and leading franchise operational capabilities Net Promoter Scores Re-engineered risk, Customer driven Positioned to Strong capital credit and control differentiated harvest ongoing base ready to environment of the proposition cost efficiency reward equity Group improvements Source: Company information Page 10

  4. Market Leader with Highly Attractive Prospects in a Growing Economy Bernard Byrne CEO

  5. Market Leader with Highly Attractive Prospects 1 Leading Franchise in a Growing Economy with Attractive Banking Dynamics Business Model Re-Engineered, Simplified, and Digitally-Enabled with a Customer First Strategy Driving 2 Commercial Success Strong Risk Management Framework Resulting in Improved Asset Quality and Impaired Loan Reduction 3 4 Stable Funding Model and Significant Capital Generation, Delivering Robust Capital Ratios Sustainable Financial Performance Underpinning Strong Momentum to Double Digit Returns and Capital Return to 5 Shareholders Source: Company Information Page 12

  6. Ireland is a Growing Economy with Strong Dynamics 1 Economic Growth Expected Despite Total Employment Levels Rising as Deleveraging Reaching an Inflection Brexit Uncertainties Unemployment Falls Point Household Debt as % of Disposable Income Real GDPGrowth(%) Unemployment Rate(%) TotalEmployment(K) 250 17.0 2,150 3.4 3.3 3.2 200 1.8 1.6 11.0 1,925 1.5 150 5.0 1,700 100 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q4 2009 Q3 2011 Q2 2013 Q1 2015 Q4 2016 2017F 2018F 2019F 2002 2004 2006 2007 2009 2011 2013 2014 2016 Ireland Eurozone Unemployment Rate Total Employment (RHS) Source: European Commission for 2017 and 2018 and DoF for 2019 Source: CSO Source: CSO, Central Bank of Ireland and AIB ERU Wage Growth and Increasing Consumption with Exports and FDI; Key Increased Personal Spending Consumption Drivers of Growth (€bn) YoY Change (%) Consumer Confidence Index Retail Sales YoY Change(%) Expenditure components of GDP (€bn) 120 20% 304 287 104 269 100 256 96 15% 92 88 84 84 84 85 99 93 10% 86 82 2.2% 2.3% 85 2.3% 70 2.7% 64 1.8% 5% 58 54 0.7% 1.6% 0.7% 31 (3%) 29 30 27 0% 104 92 96 100 50 (5%) Q1 2010 Q2 2012 Q3 2014 Q4 2016 2010 2011 2012 2013 2014 2015 2016E 2017F 2018F 2015 2016E 2017F 2018F ERSI / KBC Consumer Confidence Index (LHS) Nominal Personal Consumption Personal Consumption Public Consumption Compensation Per Employee YoY Change Retail Sales (RHS) Investments Net Exports Source: Central Bank Source: CSO, ESRI/KBC Source: Central Bank Page 13

  7. Competitive Advantage in an Irish Market with Attractive Demographics 1 European Population Under Age 25 (1) Population (%)  Irish Population Youngest in EU 33.3 30.4 30.3 28.9 25.1 23.9 23.6  Demographic with Most Attractive Characteristics Ireland France UK Netherlands Spain Germany Italy AIB Market Share by Age Cohort (2) Market Share by Age Group (%)  AIB in the Sweet Spot of Irish Market 45 41 36 34  Well Positioned to Capture Opportunities 15–24 25–34 35–44 45+ Source: Company Information (1) Eurostat (2) AIB/EBS – Current Account holders Page 14

  8. Structural Drivers Underpinning Strong Growth Prospects in 1 Key Banking Markets Household Formation Outstripping Supply… …Driving Increased Prices… # of Completions(K) Price(Index from 100) Units (K) 27.0 25.0 100 140 22.0 Strong Economic Forecast Growth with Falling 14.9 12.7 11.0 50 90 Unemployment and Rising Wages 0 40 2002 2004 2006 2008 2010 2012 2014 2016 2018F 2014 2015 2016 Housing Completion (LHS) Forecast (LHS) Housing Completions Estimated Demand Dublin Prices (RHS) Ex-Dublin Prices (RHS) Source: CSO, Department of Housing, Planning, Community and Local Government Source: CSO, Department of Housing, AIB ERU …Supporting Increased Lending Despite Cash …Trend Replicated in SME Credit - Forecast to Young and Growing Buyers… Return to Growth (1) Population Sales Value by Buyer Type (€bn) 2010–2020 (€bn) % of sales funded by cash or othersources (2) : c.60% 54.6 Forecast 45.1 42.7 41.7 38.6 32.1 32.4 0.7 31.2 30.0 30.0 30.0 0.4 0.2 0.2 0.1 2.2 0.1 2.0 1.7 Increasing Leverage 2.6 2.3 1.9 Capacity Following a 2010 2011 2012 2013 2014 2015 2016 2017F 2018F 2019F 2020F Period of 2014 2015 2016 Deleveraging Business Credit FTB Mover RIL Purchase Re-Mortgage/Top-up Forecast Source: BPFI Source: CBI; BPFI; Internal Data; AIB/PwC Analysis Source: Company Information (1) Excluding Financial Intermediation & Property (Real Estate, L&D Activities) (2) Assumes normalised completions of 25,000 – 30,000 per annum Page 15

  9. Positive Macroeconomic and Demographic Outlook for the 1 Irish Banking Market Mortgage Lending Business Lending Personal Lending Market Size (€bn) Market Size (€bn) Market Size (€bn) Total New Lending Total New Lending Total New Lending ~4+ ~8+ ~10+ 3.2 5.3 5.7 2016 Normalised Long Run 2016 Normalised Long Run 2016 Normalised Long Run • Transaction volumes significantly below pre-crisis • 99% of businesses in Ireland are SMEs • Growth in personal lending and credit card levels transactions reflecting improved consumer • Sector recovering – growth in new lending sentiment • Supply & Demand factors – 25K to 30K units required • Strong volume of Start-ups • Digital enablement and efficient servicing a key • 15K new unit completed in 2016 factor of growth • Increasing demand for digital and cloud servicing • Government Action Plan for Housing and • Personal current accounts an anchor relationship • Growing sectors i.e. energy, healthcare, food & Homelessness banking product agriculture • Increase in Buy-to-let sector required to meet rental demand Source: Company Information - Management estimate for lending growth Page 16

  10. Leading Franchise in All Key Personal & Business Banking 1 Segments Market Position #1 Personal Market Shares - Stock % 36 37 35 #1 Mortgages 18 Personal #1 Personal Main Current Accounts #1 Personal Loans (1) (3) Mortgages Personal Main Current Personal Loans Personal Credit Cards (2) Accounts #1 Personal Credit Cards Customer #s: 302K 1.6m 176K 534K Market Position #1 SME Market Shares - Stock % 44 43 36 #1 Business Main Current Accounts 26 Business #2 Business Main Loans #1 Business Main Leasing Business Current Main Business Loans Business Leasing Business Credit Cards Accounts #2 Business Credit Cards Customer #s: 273K 74K 24K 101K Source: Company Information, IPSOS MRBI, Personal Finance Tracker, Q4 2016, SME Financial Monitor, July 2016 (1) Market share amongst banks (2) Joint number one position Page 17 (3) New mortgage lending flow 2016

  11. Significant change in the Irish Banking Market Since 2007 1 Pre-Financial Crisis Today Market Leaders Market Leaders Consolidation in the Irish Challengers and Other New Entrants Challengers and Other New Entrants domestic banking system has accelerated as a result of the crisis Mutuals Mutuals AIB is the National Champion in a consolidated market and well placed to benefit from future growth Source: Company Information Page 18

  12. Investment Aligned to Strategic Agenda and Delivering 2 Growth, Efficiencies and Customer Satisfaction Customer First Simple & Efficient Risk & Capital Management Talent & Culture Focused Investment of €870m (2015-2017) Customer need – driven by Resilient and agile technology Risk adjusted return on capital Strategy defines talent need • • • • data and analytics insights platform measurement (RARoC) Customer first culture and • Clear Focus Omni-Channel distribution of Business process management Clear risk appetite conduct a priority • • • simple & innovative products delivering outcomes efficiently Credit capability Risk aware • • and services Personal Loan Customer Journey Mortgage Proposition Transforming Customer Experience Strategic pillars delivering enhanced Multi-brand approach • Highest scoring customer journey • • customer experience Strategic frontbook / backbook pricing • 3-hour journey time via online channel • NPSDevelopment Online application • Digital end-to-end & lower cost to serve • Transactional 45 36 Delivering # of Mortgage Applications (2016) 16 & Measuring Personal Loan NPS (1) by Channel (Q4 16) K by Brand; % Increase YoY +27% Success Q4 2014 2015 Q4 2016 +21% 27.7 Personal Relationship (2) 16 +40% 11 90 17.7 +36% 73 62 5.5 4.5 (5) AIB EBS Haven Total Branch Phone Online 2014 2015 2016 Source: Company Information (1) Change in survey methodologies for relationship NPS measurement in 2015 and again 2016 (2) Net Promoter Score - measures customer experience with a company’s products or service and the customer’s loyalty to the brand. It is an index ranging from -100 to 100 that measures the willingness of customers to Page 19 recommend a company’s product or services to others

  13. Customer First Driving Commercial Success 2 Tangible Customer and Efficiency Outcomes Continuously innovate to Relentlessly deliver Understand our customers’ Serve through our omni- Customer First provide suitable solutions simplification and needs channel distribution model for customers digitalisation No. 1 Physical & Digital Channel Investment in Key Customer Propositions Resulting in Tangible Customer & Distribution Network in Ireland Efficiency Outcomes OTC (1) transactions reduced by 56% Prioritised 3,000 FTE Reduction 2012 - investment in in 4 years 2016 Mobile 2.0 206 71 20 Business Branches Locations Centres Mobile penetration at 34%, upper quartile globally (2) Focus on improving €450m reduction in costs to customer journeys 2015 Internet Mobile interactions increased to 30 Mobile App - Partnership Banking – per month (3) >650K active with An Post 1.1m online mobile users in 1,100 Significant 67% of transactional users investment in Locations 53% of all key products purchased customers active on digital analytics and via online channels channels propositions Complete Consistent Connected Source: Company Information (1) OTC – “Over the Counter” transactions (2) Source: RCB Customer Analytics Page 20 (3) Banking transactions conducted on mobile including quick balance view

  14. Proven Return on Investment: Growing Levels of Customer 2 Interaction and Digital Engagement 2013 2016 501K 28K 148K Mobile Kiosk / Tablet Mobile Interactions Logins Interactions 208K Internet 240K 18K Banking Internet Over 1.2m Contact Logins Banking 880K daily Centre Calls daily Logins interactions interactions 77K 18K Branch Contact 100K 325K Transactions Centre Calls Branch ATM 432K ATM Transactions Withdrawals Withdrawals Branch Transactions: 36% increase in daily 6,000 calls transferred from FTEs Reduced by c.3,000 Mobile now busiest channel Teller -36% interactions branch to contact centres Self Service +52% Significant investment across channels leaving AIB well positioned for growing demand Source: Company Information Page 21

  15. Resulting in Increased New Lending and Market Share Gains 2 Momentum Across Key Sectors Leading Market Shares Increase in New Lending Drawdowns (€bn) Mortgage Lending (€bn) Stock 8.7 44% 37% 36% 36% 8.5 2.0 1.7 1.3 26% 22% 1.9 2.6 2014 2015 2016 5.7 (2) (3) 2.9 Personal Lending (€bn) Personal Personal Mortgages Business Leasing Main 1.6 2.6 Current loans Current Business (1) Accounts Accounts Loans 0.7 0.5 1.6 0.4 Strong Market Share Position 3.9 2014 2015 2016 3.3 (Stock) 2.5 SME andCorporate (5) Lending (€bn) #1 Business Main Current #1 Mortgages 4.0 3.7 Accounts 2014 2015 2016 2.4 #1 Personal Main Current Accounts #2 Business Main Loans 2.9 RCB WIB UK 2.6 1.6 #1 Personal Loans #1 Business Main Leasing 1.2 1.1 0.8 (4) #1 Personal Credit Cards #2 Business Credit Cards Drawdowns to approval rate of 67% in 2016 2014 2015 2016 SME Corporate Source: Ipsos MRBI AIB Personal Financial Tracker 2016; AIB SME Financial Monitor 2016, BPFI - 2016 Source: Company Information (1) Amongst banks; excludes car finance (2) New mortgage lending flow 2016 (3) Main Business Leasing Agreement Page 22 (4) Joint number 1 position (5) Corporate includes syndicated finance, real estate >€10m, advisory and structured finance

  16. Continued Investment in Talent & Culture 2 Manpower Movements (FTEs) iConnect (Engagement) (1) 2013 c.7,400 staff exits Actively Disengaged, 39% Engaged, 9% Leadership Team c.4,400 new hires Refreshed 2016 13,459 Actively Disengaged, 7% Engaged, 50% - c.3,000 10,376 iConnect Scores 2013 2014 2015 2016 Investment in Senior Average mean score 3.65 3.80 3.89 3.96 Management for Gallup clients AIB scores 3.15 3.65 3.96 4.08  87% participation rate  Now on 52nd percentile of Gallup’s benchmarking data base Focus on Increasing (5th in 2013) Diversity  Engaged employees now 2012 2016 significantly outnumber the actively disengaged Source: Company Information (1) Partnering with Gallup to measure our employee engagement in AIB. Engagement is measured by the Gallup Q12, which is a standard set of 12 questions that employees complete on an annual basis. The “grand mean” is the average response given by employees to these 12 questions on a scale of 1-5. Page 23

  17. New Lending Within Risk Appetite and Book Performing Well 3 High Quality New Lending Average Mortgage LTVs Declining Stock and Flow (%) New Lending in Ireland (Dec 2016) 87% 78% 97% at High Grades (1) 74% 74% 73% 70% 50% 47% 2014 2015 2016 Stock New Lending New to Impaired Loans Normalised New to Impaired Provisions Charge (€m) • Improved underwriting • New lending at higher grades (1) 541 281 281 3% 2014 2015 2016 Grade 1 Grade 2 Grade 3 Source: Company Information (1) Credit grading is used to assess the credit quality of borrowers and is fundamental to credit sanctioning and approval Page 24

  18. Strong Risk Management Driving Reduction in Impaired Loans 3 …Leading to Provision Writebacks Tangible Progress in Reducing Impaired Loans Continued Reduction in Impaired Loans a Key €m Impaired Loans (€bn) Priority 923 55% 51% Appropriate Provisioning 28.9 Process, Externally 47% Validated 22.2 44% Strong Arrears Management 298 Capabilities 13.0 13.1 188 10.9 €1.0bn 9.1 6.9 €0.7bn 5.1 Developed Full Range of Solutions (1,904) 2013 2014 2015 2016 Gross Impaired Loans Net Impaired Loans (1) Positive Effect of Improved 2013 2014 2015 2016 Irish Macroeconomic Specific Provisions as % of Gross Impaired Loans Environment (2) Mortgages in “probationary period” Source: Company Information (1) Net impaired loans calculated as gross impaired loans less specific provisions (excl. IBNR) (2) Currently performing to terms Page 25

  19. Stable, Low Cost Funding Model & Robust Liquidity Profile 4 Funding Model Supported by Resilient & Stable Loan to Deposit Ratio ~100% Low Cost Customer Deposit Base Average Cost of Funding Declining Strong and Stable Loan to Deposit Ratio (LDR, %) Customer Deposits as%of Total Funding Cost of Funds (%) €64bn €64bn 138 (1) 1.61 100 99 95 0.97 69 63 2011 2014 2015 2016 2014 2016 2014 2016 Deposits Value Improving Financing Terms in Wholesale Market Strong Liquidity Profile Rating Agency Upgrades Basel III Liquidity Requirements (%, Dec2016) Recent Completed Debt Transactions, Spread OverMS (bps) Long-Term Rating Agency Senior Unsecured ACS 2014 2017 180 ~128 ~119 S&P BB BBB- 108 95 54 Moody’s Ba3 Baa2 500m 500m 500m 500m Net Stable Funding Ratio Liquidity Coverage Ratio Fitch BB BB+ (Apr '14) (Mar '15) (Mar '14) (Jan '16) Source: Company Information (1) Excludes interest income on swaps Page 26

  20. Significant Capital Accretion Enabling Substantial Payments to 4 the State Enhanced by Dividend Payment Strong Organic Capital Generation Significant Capital Repayments Fully Loaded (FL) CET1 Ratio(%) €3.2bn paid in €3.2bn paid in €1.6bn of capital €1.6bn of capital €1.7bn paid in €1.7bn paid in fees, coupons, fees, coupons, repaid in July repaid in July Dec 2015 Dec 2015 dividends and dividends and 15.3% 2016 2016 levies levies 13.1% 11.8% €3.5bn 2009 Total payments of Total payments of €13.1bn Preference Shares €6.8bn €6.8bn €12.1bn 5.9% (1) €11.3bn €250m ordinary dividend proposed for 2016 €250m ordinary dividend proposed for 2016 Working towards annual pay-out ratio in line with normalised European Working towards annual pay-out ratio in line with normalised European 2014 2015 2016 banks with capacity for excess capital levels to be returned to banks with capacity for excess capital levels to be returned to Shareholders’ Equity shareholders through special dividends and/or buybacks – all subject to shareholders through special dividends and/or buybacks – all subject to Lev. 3.2% 7.9% 9.2% regulatory and Board approval regulatory and Board approval Ratio Source: Company Information Page 27 (1) Excludes €3.5bn 2009 Preference Shares

  21. Sustainable Profitability, Strong Capital Generation and 5 Delivering Shareholder Returns Strong sustainable profit on a total and underlying basis €1.7bn • Profit Before Tax Enhanced by one-offs and lower YoY provision writebacks • €1.9bn in FY 2015 Positive upward NIM trajectory; exit NIM of 2.42% (Q4 2016) • 2.25% Stable asset yields; lower funding costs and positive impact of • Net Interest Margin (1) repayment of €1.6bn CoCo (3) 28bps increase in 2016 €9.1bn; €5.1bn net (2) Further reduction in impaired loans • Impaired Loans Primary restructuring period concluding • €4bn reduction on Dec ‘15 15.3% Strong capital ratios; generating significant capital • FL CET1 Ratio Payment of €1.8bn on the maturity of the CoCo (3) • 230bps higher than Dec ‘15 €250m Sustainable performance delivering further returns to shareholders • Dividend Payment Proposed First dividend since H1 2008 (4) NPS +45 - Q4 2016 Customer First strategy driving significant improvement in • Net Promoter Scores customer experience +29 increase since Q4 2014 Source: Company Information (1) Excludes Eligible Liabilities Guarantee (ELG) (2) Net of specific provisions Page 28 (3) Contingent Capital Notes; €1.8bn includes accrued dividend (4) To ordinary shareholders

  22. Focused on Delivering Sustainable Performance 5 Based on Strong Customer Franchise, Capital Accretion and Returns, and Sustainable Growth Investment in Investment in Customer First Customer First agenda driving agenda driving growth growth Target returns on Maintain strong Target returns on Maintain strong and tangible equity and stable NIM tangible equity stable NIM 10%+ (1) 2.40%+ 10%+ (1) 2.40%+ Robust and efficient Strong capital base operating model CIR with CET1 of 13% <50% Source: Company Information (1) ROTE based on (PAT - AT1 coupon + DTA utilisation) / (CET1 @13% plus DTA) Page 29

  23. Brand and Customer Propositions Tom Kinsella Chief Marketing Officer

  24. Market Demographics & Conditions Driving Opportunity for Growth Market Context AIB Strategy & Proposition  Deep understanding of customer value and value potential – targeted acquisition strategy for high value customers today as well as future prospects Young and Dynamic Population  No.1 bank for “Start Ups” (1)  Innovation in value creating propositions where AIB is able to utilise extensive credit insights Increasing Appetite and Capacity for Leverage  Digitally enabled channels complemented by nationwide physical infrastructure enhancing overall customer High Digital Adoption and Continued Customer Preference for Omni-Channel proposition & experience  Powerful brand campaigns that resonate with customers across segments and drive Omni-Channel Merging of Consumer Brands and Bank Brands engagement Source: Company information (1) Start ups defined as businesses up to 3 years in operation Page 31

  25. A Clear & Differentiated Brand Supporting Customers Across Their Financial Lifetime Legacy Challenges Resulting in a Brand Strategy Built on “Customer First” Foundations  Rehabilitated AIB Brand Brand Promise  A tarnished brand  Re-Invigorated EBS Brand Brand The  Deployed multi brand strategy Bank  Disempowered & disenfranchised staff that Works  Empowered staff & changing culture for You Reasons to Believe We Will Always Be Useful Insight  Extensive customer and staff consultation  A perception of mutual distrust and lack of understanding  Customer experience is the sum of all interactions Insight People Want a Bank They Can Believe in… That Also Believes in Them We Put the Customer First Values  Focus on efficient processes We are Empowering Channel  Inconsistent customer experience across We are Building Trust and Appreciation  Use data more effectively across channels We Keep it Simple channels resulting in poor advocacy We are Better Together  Customer led Omni-Channel strategy Communications guidelines Proposition  Propositions not tailored to customer need  Tailor fair propositions to customers’ needs across  Product, not customer led proposition their financial lifetime Prove by Doing; Break with Always be Useful design Not by Saying Convention Source: Company information Page 32

  26. A Unified Brand Strategy to Grow Customer Engagement… AIB Brand Idea Delivered through the “Backing” Creative Concept All-Ireland Club 48-Hour Approval Dedicated Mortgage Adviser All-Ireland Senior Football Extended Call Hours Approval valid for 12 months £50 for your GAA club with home insurance Business Tool Kit Mobile Apply 3-Hour Approval Source: Company information Page 33

  27. …Underpinned by Focus on Improving Customer Experience • Voice of the Customer 2013 2015 2016 Programme measuring 2017 VOICE OF Launch of VoC Programme Re-launch of VoC Programme 2014 customer experience Programme Expansion CUSTOMER • 17 Transactional Journeys Prioritised Programme Review using NPS Scores and PROGRAMME • First Results & • 20 Transactional Journeys • Personal & SME • Forrester & Satmetrix areas for focus Journeys providing real customer Relationship NPS • Focus on Review • 18,000 Customer • 68,000 Customer 2012 Mortgage insight • Closed Loop & Service • 29,000 Customer Surveys Surveys Journey Recovery Concept Initiated Surveys • Opportunity to improve efficiency and customer experience through 2012 2013 2014 2015 2016 2017 improved complaint process 2015 2016 • Learnings and processes Resolver Role Complex Complaints that are replicable across CUSTOMER In Branch & Direct Centre of Excellence the business COMPLAINTS • Local discretion • Pilot Commenced INSIGHTS − Next project in • Average complex complaint progress on lead-time down from 28 to 9 improving the days mortgage journey Source: Company Information Transactional NPS is a measure of a customers perception of a recent transaction they have completed to seek their feedback on that transaction/journey. Transactional NPS score is an amalgamation of the 17 transaction journey types through which customers engage with AIB. Relationship NPS is the a measure of the customers overall perception of their relationship with AIB – it is measured at an organisational level of everything the customer experiences internally and externally Page 34

  28. …with Tangible Results – AIB is the #1 Banking Brand in Ireland Strong Market Share in Key Segments …Improving Customer Experience… …the #1 Banking Brand in Ireland Main current account Market Share (1) 15-24 Transactional NPS Personal 45 +44 (Q4 2016) 1 YoY% 45% Brand AIB Rank Q3 2013 Q4 2016 Change in 35% Power (4) in Brand Q4 2016 Market Relationship NPS Power (4) 21.2% #1 Personal +5 16 +0.8% 11 AIB #2 #2 20.1% Q1 2016 Q4 2016 15.0% #3 +16 SME 22 SME 6 Main current account Market Share of Business Start Ups (2) (Q4 2016) Q1 2016 Q4 2016 YoY% 51% Brand AIB Rank Reduction in Complaints (%) (3) Change in 39% Power (4) in Brand -67% Q4 2016 Market Power (4) 32.8% #1 +1.4% AIB #2 2012 2013 2014 2015 2016 #2 30.1% Source: Company Information #3 12.3% (1) IPSOS MRBI Personal Finance Tracker Q4 2016 (based on 4 quarters rolled data) (2) IPSOS MRBI AIB SME Financial Services Monitor 2016. Start ups defined as businesses up to 3 years in operation Page 35 (3) Company Information taken from Complaints Management Clkview Dashboard. AIB RoI (Incl. EBS & Haven) only. (4) Brand Power: A prediction of the volume share a brand can command based on consumer predisposition to choose the brand over others. Millward Brown Brand Equity Tracker Q4 2016

  29. Case Studies: Compelling Propositions Leveraging Clear Brand Strategies Delivering Growth and Customer Loyalty Mortgage: Multi Brand Strategy for Whole of Market Personal Loans: A Digitally Enabled Model • Customers consider 2-3 providers (including current transactional bank) • Interview vs. Hug Strategy • Advice and support throughout mortgage journey • Procrastination - customers put off “doing” • Upfront offers /value for certain segments • Difficult and clunky process Maximising value through Challenger / incentive Intermediary play for • Any channel, any purpose – loans within 3 hours. 85% of applications receive existing customer base model to attract non- broker model traditional customers instant decision • No fees - Free Banking • Best in class Proposition for Mortgage customers • Mortgage Specialist – No. Mortgages for Broker • Convenient and easy access to credit. End to end online and mobile fulfilment 1 challenger Brand to & Intermediary • Long term value with • Recognition that customer experience is key component of proposition pillar banks channel offering lowest SVR customers advice • 2% cashback - new Mortgage customers • Long term value with lowest SVR New Mortgage Lending Market NPS New Business Personal Loans Market NPS Share 2016 (1) Share Amongst Banks 2016 (2) 37 +12 75 36% +21 17% 10% 25% 63 16 Q1 '15 Q4 '16 AIB #2 AIB #2 Q4 '13 Q4 '16 Source: Company Information (1) Internal data based on BPFI (2) Personal Loans New Business Market share, source: IPSOS MRBI Personal Finance Tracker Q4 2016 (BASED ON 4 QUARTERS ROLLED DATA). Data includes all personal loans (up to 3 per respondent) amongst those aged 18+. Excludes Page 36 car loans. Data is based on number of loans held (not value of loans). Multiple loans held by the same individual are each measured separately. New business is all new personal loans taken out in 12 months prior to survey

  30. Deep Insights Into Customer Value Life Cycle Driving More Focused Customer Strategy Based on Mutual Value Customer Lifetime Value (1) • Retain loyalty 1 1 PV of Income and Income Potential Current Income • AIB developing customer life cycle Future Income • Grow share of wallet 2 value model to design propositions that meet target segments’ needs profitably • Manage for efficiency 3 − Maximise potential revenues in high value customers 4 • Youth & start-ups − Manage costs to serve with simple customer propositions on 2 4 lover value segments 3 − Focused youth strategy including on-campus capability 90 80 70 60 50 40 30 20 10 0 Customer Percentile – Based on Current Value Focus on acquiring customers that will be profitable in the future and delivering attractive proposition to today’s customers Source: Company information (1) Source: Marakon based on analysis of AIB internal data Page 37

  31. Customer Led Propositions Leveraging Deep Insights, Delivered Through a Leading Multi-Brand Strategy Brand rehabilitation driven by customer insight • Customer First Implementation via Multi-Brand approach • Consistent focus on improving Customer Experience in the way customers interact with AIB Simple & • Efficient Customer migration to digitally enabled banking solutions • Segmenting the customer base by value – income and risk based • Risk & Capital Risk Appetite Statement underpinned by Brand Values that drive effective business strategy and risk-taking • Brand Values based on customer & staff expectations • Talent & Culture Driving “Customer First” culture change • Outcomes…  Deeper relationships PNPS +16  TNPS +45 Compelling Customer Sustained Business  Differentiated Brands #1 Irish Banking Brand (Brand Power (1) ) Growth Propositions Source: Company Information (1) Brand Power: A prediction of the volume share a brand can command based on consumer predisposition to choose the brand over others. Page 38

  32. Retail & Commercial Banking Robert Mulhall Managing Director, Retail and Commercial Banking

  33. Strong Franchise with Competitive Market Position The Leading Irish Bank with Retail and Commercial Focus Retail & Commercial Banking (1) Wholesale, Institutional & Corporate Banking (1) AIB UK – AIB GB & Northern Ireland • >360k retail and SME customers Corporate Banking – relationship-driven model Largest retail and commercial bank in Ireland • • • FTB – focused challenger in NI with sector specialisms 2.3m personal & SME customers • • GB – Niche business Real Estate Finance – centralised origination No. 1 distribution network with 297 locations and An Post bank • • NI – First Trust AIB GB and management partnership Specialised Finance – structured finance, Leading market shares and leading position in digital • • Group Treasury & Support Functions mezzanine finance enablement Syndicated & International Finance Multi-brand approach • • Treasury activities • Central control & support functions • Net Customer Loans by Segment Net Customer Loans by Product Operating Profit by Segment UK UK Residential Non-Property 11% 15% Mortgages Business WIB 55% 27% WIB 18% RCB 15% Property & 71% Other RCB Construction Personal 70% 13% 5% FY 2016 Total: €61.0bn (2) FY 2016 Total: €1.3bn (2,3) FY 2016 Total: €61.0bn (2) Source: Company Information (1) RCB = Retail & Commercial Banking, WIB = Wholesale, Institutional & Corporate Banking (2) Due to rounding, sum of values in pie charts may not equal total net loans figure shown Page 40 (3) Pre-provision Operating Profit (Before Group Treasury and Services)

  34. Largest Retail & Commercial Bank in Ireland A Diversified and Growing Personal and SME Franchise Commentary Group Net Loans RCB Earning Loans RCB New Lending Mortgage portfolio is the largest portfolio and SME 16% UK 2016 contributor to net interest income 15% Personal WIB Lending €1.2bn Strategic focus on the SME proposition and 15% 7% €2.0bn Mortgages distribution channels €0.7bn RCB 75% 70% Personal Lending growth driven by digital Mortgages Personal SME FY 2016 Total: €61.0bn FY 2016 Total: €38.3bn innovation With Strong Income Contribution To Group Strong Current Account Relationship and Strategic Partnerships provide platform for Other Income Total Income Total Operating Income Split generation and growth Group 13% Other UK Net Continued focus on cost management Income 11% Interest 24% Income  c. 23% reduction in FTE from 2012 (excluding workout unit) WIB 76% 12% RCB 64%  Investment in Digital capability and process efficiencies FY 2016 Total: €2.6bn FY 2016 Total: €1.67bn Source: Company Information Page 41

  35. Optimising Distribution to Drive Higher Efficiencies and Competitive Advantage Distribution Network Redesigned…. …Organised Around the Customer “Best Bank in Every Community” • Ambition Empowered Local Leaders & Teams • 206 Branches 20 Business 71 Franchises equipped with local market insights Centres Differentiate on Retail Excellence and • Sales Effectiveness Area Dublin Mobile App - Online Banking– Partnership with An Post with 640K active mobile users 1.1m active online users 1,100 Locations Area East/West Area South 2011 - 2012 2016 Augmented by Market Leading Omni-Channel Capability • 267 AIB Branches • Branch network reduced by 25% Physical Distribution • Limited Direct RM capability • 28% reduction in Branch FTE numbers Direct relationship management • • Limited Online • #1 Mobile Penetration Seamless customer journey management • Digital Digital Harvesting • • Limited Self Service • Strong adoption to Digital (75% Personal Channels/ Delivering on Targeted Results Lending & 80% on CCLs) Enablement • 40% eligible transactions completed on CCLs • Enhanced Customer Insights c. 23% reduction in Increasing NPS (3) Shift from OTC (1) -36% FTE from 2012 (2) while scores • #1 Bancassurer with Irish Life • Limited Partnership to CCL (1) +52% increasing Partnership +40 Potential • #1 Merchant acquirer with First Data productivity Source: Company Information (1) OTC: Over the Counter; CCL: Cash and Cheque Lodgement (2) Excluding Workout unit Page 42 (3) Q4 2016 Transactional NPS

  36. Leading Digital Capability in the Irish Market Place Customer Journey Driving Higher Digital Adoption # 1 Digital Offering in Ireland No. 1 Digital Channel Distribution Network in Ireland Digital Penetration & Use (1) Digital Journey Successful engagement across multiple digital channels Descriptor AIB Delivery Service in • Trx Migration the Customers’ • Mobile Capability % of Active Digital Customers 56% Hand Internet Banking Android Pay Mobile Tablet % of Transactional Customers Active on Digital Channels 67% Deepening • Online / Mobile Sales Relationships Capability % of “Digital Only” Personal Customers 40% through Digital • Increased touch frequency % of “Mobile Only” Personal Customers 14% Digital AIB Social iBusiness Expanding the • Open APIs Marketing Media Banking Web Digital Ecosystem • Payments 2.0 % Growth in Digital Personal Loans 127% Increasing Internet and Mobile Users Active Users (2) (K) Best in Class Customer Analytics Unlocking Valuable Insights 850 +7% Delivering Improved Conversion Rates 750  30 mobile interactions per month (3) Event Trigger Rules Based Event Trigger Rules Based 650 +38% 17% 53% 28% 5% 550 Propensity 450 Propensity Web Trigger 39% Jan-14 Sep-14 May-15 Jan-16 Nov-16 30% 28% 1 in 20 Converts 1 in 7 Converts Internet Users Mobile Users 2014 2016 Source: Company Information (1) RCB Analytics (2) Active customers by channel = customers who have initiated a transaction / successfully logged-on in the Page 43 respective channel in the 90 days prior to 30 June 2016 (3) Mobile app was accessed almost 20m times in December 2016

  37. Mortgages : Growing Share Driven By Multi-brand Approach, New Lending Up 22% YoY vs. 16% for Total Market Outperforming the Industry Resulting in Market Share Gains Differentiated Brand and Pricing Strategy Mortgage Market Share (Flow) (1) % 38.6 37.1 34.5 33.9 34.1 33.1 31.9 “Maximising Customer “Challenger / Incentive Model to “Intermediary Play for Base Through Loyalty” Attract Non-traditional Broker Market” Customers” • Customer demographic has Tailored advice for customers • Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 high propensity to purchase Scale and franchise model based on individual needs • products allows EBS to be a credible challenger brand Hassle free management of • • Opportunity within own mortgage process for Diversified Brand and Channel Distribution customer base - loyalty focus Agility to compete customers • • Achieve appropriate switcher Incentives & Targeted Offers • (FY 2016) share (e.g. cash back, 3 months Stock by Brand Flow by Brand Flow by Channel repayments free) • Most Competitive SVR Haven Intermediary Haven positioning Service / advice • 5% 17% 17% • Loyalty proposition EBS Online/Direct AIB Branch 32% 12% 63% EBS 71% Underpinned by Strategic Focus on Customers AIB 23% 60% • Front / Back-book SVR pricing • Fending competition Loyalty & €33.4bn €2,043m €2,043m Pricing • Passing value and funding benefit (Gross Loans) • Supplemented by free banking Source: Company Information (1) Source: BPFI Page 44

  38. Mortgages: Multi-Brand Strategy Driving Pricing & Mix and Well Positioned for Further Opportunities Strong Growth in New Lending in First Time Buyers Consistently Strong Customer Rates Drawdowns by Segment, % (as at 2016) Home Mover % AIB Mortgage Rates 4.15 34% FTB new lending : 3.40 3.65 First Time 3.50 • 46% of total market is FTB 3.50 3.50 BTL Buyer • AIB has largest share of FTB 5% 53% market at 42% Switcher Top up 2014 2015 2016 5% 3% SVR 1yr fixed Focus on Variable and Short Term Fixed EBS Mortgage Rates % 2 Year 4.33 3.70 Fixed 3.70 12% 3 Year 3.50 3.50 25% 3.50 1 Year 21% 4 Year 50% Variable 1% 75% 2014 2015 2016 5 Year SVR 1yr fixed 15% Tracker Stock Redeeming at c. €1.3bn pa Haven Mortgage Rates 3.40 4.35 % 2014 2016 3.72 Fixed Fixed 3.50 3.50 3.50 8% 10% Tracker Tracker 40% 35% 2014 2015 2016 SVR 1yr fixed Variable Variable Average customer tracker rates of 90 – 100bps 55% 52% €34.5bn €33.4bn (Gross Loans) (Gross Loans) Page 45 Source: Company information

  39. SME: Established Business with National Reach and Scale Product Offering Customer Definition Overdrafts & Working Asset Finance & Turnover <€20m / Term Lending Capital Leasing Exposure (1) <€10m Business Entities & Owner Managed Businesses Distribution Channels Commercial Finance Business Credit Cards AIB Merchant Services c. 185 Business RM’s in the branches • c. 130 BCA’s (Business Customer Advisors) and c. 20 support • Branch staff Treasury and FX Current Accounts Deposit Accounts Services 20 Business Centres • c. 110 Relationship Managers and c. 100 Leads and Supports • Business Centres 2 locations (Naas and Swords) with c. 60 business RM’s and • Cash Management Internet Business Wealth Advice (3) c. 20 support staff Services Banking & SULC (2) €349bn digital payments in 2016, +8.5% YoY 15-16e • SME cloud software – “My Business Toolkit” • Direct/Digital Auto-underwriting and decisioning (STP) • Source: Company Information (1) Excluding PDH (2) Single user limited company internet banking Page 46 (3) Inheritance planning services and succession planning services to business customers

  40. SME : Leading Position in Business Banking in a Recovering Market Strong Market Share (1) in Key Attractive Products and Start-Ups New Lending Up 10% YoY Market Share for “Start Ups” (%) (2) Market Share (%) AIB New Lending Flow €bn #1 #1 #1 51 1.2 44 1.1 45 39 26 11 Main Account Leasing Overdraft AIB BOI Ulster 2015 2016 Flow Split by Sector Sector Focus Driving Growth Key Differentiators Sector Profile • Market Position High Healthcare Services Food 16% Growth Energy & Agri • Brand Positioning 22% Distribution Retail Man Real uf. 11% Growth Est. • Sector Specialism Manuf. Hosp. Transport Potential Fin Mid- 19% Agri • Service Efficiency Tech Tech IT 23% Infrastructure Transport Inst. Stable • Digital 9% Corporate Pro Services Other Small Medium Large Size (2016 Lending Volumes) Source: Company Information (1) Source: AIB SME Financial Monitor 2016 (2) Up to 3 years in operation Page 47

  41. Personal Lending : Digital Enablement Facilitates Growing Market Share Digital Strategy Implemented across Portfolio AIB Personal Loans Flow (€bn) Personal Personal – 67% Stock 0.7 • End-to-end digital journey drives strong growth (+58% YoY unit sales growth) 0.5 #1 • 61% of applications through digital channels (mobile) • 90% auto-decisioned with 3-hour approval Market • Personal Loan successful NPS: 75 Share (1) 2015 2016 Credit Card AIB Flow • 2 in 3 card applications through direct channels #1 • Launch of Credit Card in 2016 on mobile resulting in strong growth (+30% YoY AIB Personal Loans Stock unit sales growth) Market • Growing penetration with young customers taking out first cards Share (€bn) 2.5 • Credit Card Application NPS: 66 2.3 Car Finance • Digital enablement of Forecourt proposition #2 • Strong Car Finance business - Lending growth up (+54% YoY unit sales 2015 2016 Market growth) AIB Stock Share (1) Highly automated digital capability that is growing market share in a cost-effective manner Source: Company Information (1) Market share amongst banks in Ireland. Source: IPSOS/MRBI Personal Finance Tracker – New lending Page 48

  42. Growing Customer Deposit Base with a Low and Declining Cost of Funds Maintaining Market Share in a Growing Market Cost of Deposits Reduced and Changing Mix Split of Deposits by Type (€bn) Household Market (€bn) Market Share 0.84% 0.44% 120 28% 43 117 40 115 27% 114 19 17 111 25.9% 110 26% 25.6% 25.5% 105 25% 24 24 100 24% Dec 14 Dec 15 Dec 16 2015 2016 Deposits CCA Household Market (LHS) Market Share (RHS) Cost of Deposits (1) 40% of deposits originated via digital channels Source: Company Information (1) Based on average deposit balances Page 49

  43. Strong Current Account Relationship Provides Platform for Other Income Generation and Growth Growth Opportunities Across Other Total Other Income (1) Other Income Composition (2) Income Lines €m Card Issuing and Growing Adoption of Digital Transactions Resulting in: Acquiring  Steady income stream 5% Other Fees & 24%  Insightful and valuable customer data 398 Commissions 382 49% Card Issuing & Acquiring Current Accounts 22%  Downward pressure on Interchange negated by Credit Related Fees growth in card adoption and usage 2015 2016  Continuing to increase market share through JV yielding increasing dividend Distribution and Reach through Strategic Partnerships FX  Steady recurring income across broad customer base • Leads - Customer Analytics & Referrals with further growth potential Wealth & General Insurance • Advisors - Partners & In Branch  Leveraging our customer base through 3 rd party partnerships with Irish Life, AXA and Allianz • Channel - Branch, Direct & Digital  Bancassurance #1 in market share on income (3)  New Home Insurance sales up 65% with market leading retention rates Source: Company Information (1) Includes income recognised on loans previously restructured (2) Excludes income recognised on loans previously restructured Page 50 (3) Source: Irish Life

  44. RCB Financial Snapshot (Earning Book) – 2016  Earning Loan New Lending Total Book Total Book Total RCB Income – 71% of Operating Contribution of AIB Group Change Y-o-Y Portfolio (€bn) 2016 2016 2015 Mortgages 2.0 23.4 23.3 0%  Interest Income up €85m (+8%) as yields improve Average yield 3.47% 2.67% − Mortgage multi-brand strategy driving market share growth in Personal lending 0.7 2.2 2.0 10% growing market Average yield 8.98% 8.19% − Trackers redeeming at c. €1bn pa − Lower cost of funds Business lending 1.2 4.3 4.1 5% Average yield 5.04% 3.91% Total (1) 3.9 29.9 29.4 2%  Strong Current account relationship provides stable Fees & Commissions Income with overall Other Income up 4% Customer Accounts (€bn) 2016 2015 Change Y-o-Y Current accounts 19.4 16.7 16% Deposit accounts 23.5 23.7 -1%  New lending €3.9bn (+20%) across all portfolios – driven by mortgage Group Cost of Deposits 0.83% 1.12% market share up to 36%; differentiated sector focus for SME and digital enablement for Personal Income Generation (€m) 2016 2015 Change Y-o-Y Net interest income 1,131 1,046 8%  Other income 398 382 4% Overall net growth of 2% in Earning loans with Personal up 10% and Business lending 5% Total Income 1,529 1,428 7% Source: Company Information (1) Excludes FSG related performing loans of €8.4bn Page 51

  45. Market Leading Performance Driven by Strategic Priorities • No. 1 franchise in Ireland commanding strong market share in key product lines and customer segments and well positioned to benefit from strong Customer First macro drivers Simple & Differentiated, highly efficient operating model, optimising physical distribution and investments in digital providing competitive advantage • Efficient RARoC (1) organised business with relentless focus on operational excellence and credit quality Risk & Capital • Talent & Culture Focus on right people in right roles, empowering engaged workforce organised around the customer • Outcomes…  Increasing Customer Advocacy & NPS  Market Leader across key Sectors & Products Gallup 55 th Percentile Largest Irish Commercial & #1 Digital Bank in Strong contribution to  Strong Lending and Income growth Retail Bank Group results engagement score Ireland Source: Company information (1) Risk adjusted return on capital Page 52

  46. Wholesale, Institutional & Corporate Banking (WIB) Colin Hunt Managing Director, Wholesale, Institutional & Corporate Banking

  47. Strong Franchise with Competitive Market Position Retail & Commercial Banking (1) Wholesale, Institutional & Corporate Banking (1) AIB UK – AIB GB & Northern Ireland • >360k retail and SME customers Corporate Banking – relationship-driven model Largest retail and commercial bank in Ireland • • • FTB – focused challenger in NI with sector specialisms 2.3m personal & SME customers • • GB – Niche business Real Estate Finance – centralised origination No. 1 distribution network with 297 locations and An Post bank • • NI – First Trust AIB GB and management partnership Specialised Finance – structured finance, Leading market shares and leading position in digital • • Group Treasury & Support Functions mezzanine finance enablement Syndicated & International Finance Multi-brand approach • • Treasury activities • Central control & support functions • Net Customer Loans by Segment Net Customer Loans by Product Operating Profit by Segment UK UK Residential Non-Property 11% 15% Mortgages Business WIB 55% 27% WIB 18% RCB 15% Property & 71% Other RCB Construction Personal 70% 13% 5% FY 2016 Total: €61.0bn (2) FY 2016 Total: €1.3bn (2,3) FY 2016 Total: €61.0bn (2) Source: Company Information (1) RCB = Retail & Commercial Banking, WIB = Wholesale, Institutional & Corporate Banking (2) Due to rounding, sum of values in pie charts may not equal total net loans figure shown Page 54 (3) Pre-provision Operating Profit (Before Group Treasury and Services)

  48. Well-Established Business with Growth Opportunities Evolution of Loan Stock • Established business area serving the bank’s larger customers and customers requiring specific sector or product expertise €bn 9.1 • Delivering customer-focused solutions in private and public markets and 0.2 0.2 8.6 1.7 providing attractive risk-adjusted returns 1.5 2.8 2.3 • Strong performance track record with market-leading positions in core 4.6 4.4 domestic markets 2015 2016 WIB loan book €9.1bn (2016) • Business Unit comprises: Corporate Banking Syndicated & Int'l Finance Specialised Real Estate Finance Specialised Finance Finance − Corporate Banking 2% Evolution of Income − Real Estate Finance €m Real Estate 320 19% 269 Corporate − Syndicated & Int. Finance Banking 51 43 48% Syndicated & 269 − Specialised Finance Int. Finance 226 31% − Corporate Finance NII Other Income 2015 2016 Evolution of Deposits • New centre of expertise focused on Energy, Climate Change & Infrastructure €bn 6.4 • Well-diversified and profitable business – predominantly a core domestic 6.0 franchise 2015 2016 Source: Company Information Page 55

  49. Sector and Product Focus to Meet Customer Needs 2016 Team Headcount: Location 258  Primary focus on senior debt origination through specialist sector coverage teams − Profitable business supporting core domestic corporates Corporate Banking Sector specialists Wholesale Institutional & Corporate Banking  Specialist product teams with deep technical expertise Real Estate Finance 70%  Co-location of teams at Bankcentre facilitates cross-team collaboration All units Energy Climate Change based at & Infrastructure Bankcentre  Strong emphasis on talent development: − Multi-disciplinary teams Specialised Finance Product specialists − Professional qualifications − Structured training and development Advisory 30% − Analyst (graduate) recruitment programme − Mandatory rotation at analyst level Syndicated & Ireland and International Finance US Source: Company Information Page 56

  50. Our Lending Model: Experienced Centres of Excellence Selective Approach Based on Tight Standards and Controls • “Centres of Excellence” ensuring learnings from past cycles are consistently Multidisciplinary applied Teams • Risk-aware approach to new business origination • Multi-disciplinary teams for business origination – lenders, engineers, surveyors Centre of • Cycle-hardened lenders with restructuring / work-out experience Excellence • Enhanced MI and reporting providing visibility on exposures and concentrations • Selective approach to new business origination with tightened underwriting standards Enhanced Sector MI & Expertise Controls Disciplined approach on pricing utilising RARoC (1) tools Source: Company Information (1) Risk adjusted return on capital Page 57

  51. Leading Domestic Corporate Banking Franchise with Corporate Diversified Portfolio and End-to-End Relationship Model Financial Overview • Ireland’s leading Corporate Bank – 40 years track record with deep customer relationships Loan Stock and Flow (€bn) – Predominantly focused on domestic corporate customers with senior debt (1) 4.6 4.4 requirement of €10m+ – No. 1 Bank for FDI - supporting Multinationals making inward investment – Primary Irish Banker to some of the world’s largest companies 0.9 0.9 • Customer base segmented, with differentiated service approach: – Core Corporates : c. 650 clients, high-touch, dedicated RM 2015 2016 – Institutional Corporates : c. 20 clients, high-touch, dedicated RM Stock Flow – Portfolio Corporates : c. 600 clients (mostly FDIs), medium-touch Sector Diversification • End to end relationship model from credit assessment and execution to portfolio management Loan Stock Split • Strong domestic position across a number of sectors (Hotels & Leisure, Food & Hotel & Leisure Other €4.2bn 2016 Agri, Healthcare) 25% 30% • Well-diversified and high quality credit portfolio: – Max single loan exposure - 5% of loan book / 0.4% of AIB loan book Relationship CRE (2) – Top 20 loan exposures - 32% of loan book / 2% of AIB loan book Transport 16% 7% Strong business performance… Wholesale / Retail Food & Agri …Opportunity now exists to create additional value through specialist 13% 9% product deployment Source: Company Information (1) Net of -€0.5b intra-group transfers (2) Relationship CRE refers to financing business premises of corporate banking customers as well as some performing legacy exposures originated prior to establishment of AIB’s Page 58 centralised Real Estate Finance team. REF team provide specialist support as required

  52. Sample Corporate Banking Customers (1) Source: Company Information (1) As published in national print media February 2016 Page 59

  53. Centralised Approach to Real Estate Finance with Multi- Real Estate Disciplinary Team and Tightened Underwriting  Centre of Excellence for real estate finance applying lessons learned from past cycles – Financial Overview previously fragmented approach now largely centralised with enhanced controls Loan Stock and Flow (€bn)  Specialist, multi-disciplinary team: seasoned property lenders (strong restructuring (1) 1.7 experience), chartered surveyors and engineers with through-the-cycle experience 1.5  Predominantly focused on: 0.6  Commercial Real Estate customers with senior debt requirement of >€10m and 0.3  Land & Development customers with senior debt requirement of >€1m 2015 2016  Strong focus on prime Retail sector reflective of market activity Stock Flow  Established market position – strong relationships with key market participants and Sector Diversification intermediaries and favourable feedback Loan Stock Split  Key differentiators – speed of execution and strong upfront analysis Other €1.6bn 2016 Mixed  Selective approach to new business origination with tightened underwriting standards e.g. 4% 8% Office  Cashflow-based approach BTL 28% 5%  Focus on entry and exit LTVs for CRE lending L&D Retail  Focus on pre-lets / pre-sales 9% 46%  Phased approached to residential development lending Source: Company Information (1) Net of -€0.1b intra-group transfers Page 60

  54. Real Estate Finance – Development Lending Aligns to Housing Strategy Addressing Fundamental Market Requirement Projections on Residential House Completions AIB Case Study 100,000 Forecast 80,000 60,000 40,000 20,000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: CSO, Department of Housing Residential House Demand • Cairn plc is a leading Irish homebuilder with a total housing pipeline of c. 12,000 units • New house completions peaked in 2006 with c. 90,000 units • Cairn plc is currently developing 7 schemes with 3 further schemes being added • Activity collapsed with the onset of the financial crisis during 2017 • Low point of c. 8,000 completions per annum from 2011 – 2014 resulting in current supply shortage • Projections are for Cairn plc to deliver 375-400 units in 2017 (1,200 by 2019) • On average, c. 25,000 new units per annum required until 2030 • AIB is primary banker to Cairn plc and led the arrangement of a €200m senior debt facility • Rate of supply expected to reach 25,000 per annum by 2019 Source: Company Information Page 61

  55. Diversified Syndicated and International Finance Portfolio with Highly Selective Approach and Proven Flexibility Syndicated & International Financial Overview • Conservatively-sized diversified portfolio of acquisition finance loans delivering Loan Stock and Flow (€bn) strong risk-adjusted returns at low cost-income ratio 2.8 2.3 • Flexible business with proven ability to provide liquidity through the cycle 1.3 1.1  Provides growth opportunities in which AIB can tactically participate  US business successfully wound down at par to provide liquidity as required 2015 2016 Stock Flow • Experienced team with strong track record and market reputation. Centralised interface to public loan markets - US presence provides access to deep and Sector Diversification liquid US market Loan Stock Split Healthcare €2.8bn 2016 15% • Predominantly focused on senior-secured large-cap and selected mid-cap Business opportunities in US and European Markets Other Services 43% 12% • Highly selective approach L&D Media 9% 5% • Target defensive, non-cyclical, cash generative industries. Small positions Financial Services spread across large number of names with average holding <€20m Specialised Retail 6% Manufacturing 5% 5% Source: Company Information Page 62

  56. Energy, Climate Change & Infrastructure Centre of Expertise to Help Ireland Become Low Carbon Economy Ireland 2020 Sustainability Targets Established lending business with experienced project finance lenders • % of energy supplied from renewables • Increasing focus on renewable energy: Significant progress has been  Helping Ireland meet its 2020 sustainability targets made, but to realise Ireland's 2020 targets and reap the associated  Become a leading player in underweight industry economic benefits requires an acceleration of effort Key stakeholders •  Government agencies and semi-state enterprises Significant progress to date  Renewables developers and asset owners Strategy to maximise existing relationships and use full product suite to attract • new business 2005 2015 2020 • Multi-disciplinary team comprising existing AIB resources and targeted external hires Around half of energy Around half of energy 2020 Energy Efficiency 2020 Energy Efficiency efficiency target efficiency target target 20% reduction in target 20% reduction in Centre of excellence offering full capital support throughout the development • achieved. Renewable achieved. Renewable demand. Renewable demand. Renewable cycle Energy 8.6% of final Energy 8.6% of final Energy 16% final energy Energy 16% final energy energy consumption energy consumption consumption consumption Source: Company Information Source: SEAI Page 63

  57. WIB Financial Snapshot – 2016 New Lending Total book Total book  WIB Income – 18% of Operating Contribution of AIB Group Loan Portfolios (€bn) Change Y-o-Y 2016 2016 2015 Corporate 0.9 4.4 4.6 -4%  Income up €51m (+19%) from established Corporate Banking business, Average yield 3.27% 3.24% activity in new sectors and lower cost of funds. Syndicated & International 1.3 2.8 2.3 22% Average yield 3.90% 4.03%  Customer Accounts €6.4bn (+7%) – increase in Current Accounts and reduced deposits due to selective pricing strategy Real Estate 0.6 1.7 1.5 13% Average yield 2.71% 3.25% Specialised Finance 0.1 0.2 0.2  New lending €2.9bn (+16%) – stable core Corporate Banking business Total 2.9 9.1 8.6 and growth in Syndicated & International and Real Estate Finance in line with strategy. Customer Accounts (€bn) 2016 2015 Change Y-o-Y Current accounts 3.7 2.6 42% Deposit accounts 2.7 3.4 -21%  Overall net growth of 6% in loans with Syndicated & International up Group Cost of Deposits 0.83% 1.12% 22% and Real Estate up 13% Income Generation (€m) 2016 2015 Change Y-o-Y Net interest income 269 226 19% Other income 51 43 19% Total Income 320 269 19% Source: Company Information Page 64

  58. Performance Driven by Strategic Priorities Customer First Market-leading customer-centric franchise business serving the bank’s larger customers and customers with specialised product requirements • Simple & Simple and Efficient operating model with Centre of Expertise approach to management of key sectors and specialised products • Efficient Steady development of franchise business with favourable growth dynamic • Risk & Capital Focus on strong risk-adjusted returns • Talent & Culture High-performing, multi-disciplinary teams ensuring executional excellence • Outcomes…  Balance sheet growth  Sustainable income Scalable business More complete Sustainable value  Returns accretive growth service model Source: Company Information Page 65

  59. AIB UK Brendan O’Connor Managing Director, AIB UK

  60. Strong Franchise with Competitive Market Position Retail & Commercial Banking (1) Wholesale, Institutional & Corporate Banking (1) AIB UK – AIB GB & Northern Ireland • >360k retail and SME customers Corporate Banking – relationship-driven model Largest retail and commercial bank in Ireland • • • FTB – focused challenger in NI with sector specialisms 2.3m personal & SME customers • • GB – Niche business Real Estate Finance – centralised origination No. 1 distribution network with 297 locations and An Post bank • • NI – First Trust AIB GB and management partnership Specialised Finance – structured finance, Leading market shares and leading position in digital • • Group Treasury & Support Functions mezzanine finance enablement Syndicated & International Finance Multi-brand approach • • Treasury activities • Central control & support functions • Net Customer Loans by Segment Net Customer Loans by Product Operating Profit by Segment UK UK Residential Non-Property 11% 15% Mortgages Business WIB 55% 27% WIB 18% RCB 15% Property & 71% Other RCB Construction Personal 70% 13% 5% FY 2016 Total: €61.0bn (2) FY 2016 Total: €1.3bn (2,3) FY 2016 Total: €61.0bn (2) Source: Company Information (1) RCB = Retail & Commercial Banking, WIB = Wholesale, Institutional & Corporate Banking (2) Due to rounding, sum of values in pie charts may not equal total net loans figure shown Page 67 (3) Pre-provision Operating Profit (Before Group Treasury and Services)

  61. Evolution of the UK Business – Near Term Focus on Optimisation of Platform AIB UK (2012 – 2016) AIB UK (2016 – 2017) • AIB UK largely in holding pattern as Group restructuring, Journey to Date transformation and full recovery prioritised • Focus on Optimising the distribution and operations platform to support measured growth • Aggressive Cost reductions actions taken across both GB and NI networks • Reducing Cost to Serve & Improving Return on Capital • Narrower Business Banking focus playing to strengths in both GB and NI • Focus on Credit Management of and restructuring/reduction of criticised and non-performing loans impaired loans C:I Ratio (1) NI Retail Branches GB Business Banking Customers / RM Efficiency 30 c.50% +50% c.40% 15 Key Initiatives Current Future State 2016 Future State Current Future State Leverage Latent Capacity in GB Business Banking Optimise Cost of Distribution Increase Efficiency through Centralisation & Simplification • Sector-led with proposition with central expertise delivered • Reduce NI branch footprint and cost • Single UK operations function across local GB network • Net reduction of c. 130 FTEs in NI retail Network in 2017 • Net Reduction of c. 50 FTEs • Latent Capacity in GB Business – adding balance sheet while • UK Post Office Arrangement • Simplified model with reduced layers and leaner maintaining current cost base delivering lower cost to serve • Digitally-led personal banking in NI leveraging Group processes • Increasing RM to Customer efficiency while maintaining expertise • Leverage Group infrastructure service proposition Prioritising delivery of improved cost to serve to support improved returns, optimising platform for future growth optionality and Clear Focus on Business Banking strengths Source: Company Information (1) Reflects cost allocation for AIB UK segment Page 68

  62. AIB Full Service Business Banking Offering Well Positioned to Compete in the UK Market UK Banking Market – Macro Considerations UK Scale players dealing with significant Technology and Lower for longer increasing focus on asset Regulation forcing scaled players to focus government policy supporting competition legacy issues, cost restructuring, network volumes – current accounts less profitable on commoditised offerings in a concentrated market rationalisation GB Market NI Market operational leverage, but increasing regulatory costs Increasing scale creates more opportunity for Scaled Players Market Leaders Challengers Challengers Scale SME New Lending Market Share (1) Full service capability delivered 36% to specialist sectors Specialty Lenders 25% 19% Other UK High Street Banks underserved by other full 13% 2% service banks Business Banking Challengers Specialist Product Set Full Service Bank Branches 46 35 15 64 32 Product Range Expanded product offering leads to increasing infrastructure costs Focused strategy to compete against scaled players as niche Business Bank specialist Source: Company Information (1) Based on Q2 2016 SME post code lending data Page 69

  63. AIB GB: Niche Business Bank in the UK with Expertise in Chosen Sectors 2016 AIB GB Lending Volumes (1) Overview of Current Offering & Distribution Platform Business Banking Corporate Banking Stock Flow 0.4% Balances (1) £2.4bn £2.8bn 7% 0.4% 1% • Typically SMEs • Larger, more complex customers 18% • Full banking service proposition delivered • Mid-size corporates Overview 25% locally • Central low touch direct contact centre 67% 81% • 70 RMs providing specialist industry and • RMs based in 15 Business Centres throughout sectoral expertise in London & Birmingham GB Distribution • 140 RMs Personal Business/ SME CRE/ L&D Mortgage Note: Direct Banking in GB is a low-touch contact centre model with Business Banking accounting for £0.44bn loan balances and significant resource base Strategy Niche relationship Business Bank with a focus on mid-tier corporates and larger SMEs • Sector Focused Clear market & customer proposition. RM and Service-led Full banking proposition delivering consistently across GB local markets • Aligned with RCB SME sector proposition and expertise • Provides wider Group with expansion opportunities through UK exposure • Optionality Provides wider Group with business and asset diversification opportunities • Reduce cost to serve through adoption & development of “ONE UK’ business support model • Lean & Efficient Leverage Group support capabilities • Narrower focus on Business Banking opportunity. Continue to review feasibility of marginal business lines • Source: Company Information (1) Based on gross loans as at 31 December 2016 Page 70

  64. FTB: Focused Challenger Bank in Northern Ireland with Business Banking Focus Overview of Current Offering & Distribution Platform 2016 AIB FTB Lending Volumes (1) Personal Banking Corporate Banking Stock Flow Balances (2) £1.29bn (1) £1.47bn 5% 9% 10% • Transactional banking services to personal • Belfast-based dedicated RM teams for large mass market value SME > £1m loan exposure Overview 41% 25% • Leverage Group digital capability • Branch-led relationship banking service SME 27% • Significant Resource Base > £150K loan exposure 54% 29% • Mid-sized retail network of 30 branches • Specialist relationship banking service for SMEs and small corporates • Low cost delivery service through digital and Distribution self-service channels Personal Business/ SME CRE/ L&D Mortgage Strategy Segmented business banking with Central Corporate team in Belfast, 3 regional business centre hubs (plus 2 satellites) • Local Business Dedicated business acquisition team • Bank Direct banking operation for micro/small business customers • Rationalised branch footprint supported by NI Post Office network • Lean & Efficient Reduce cost to serve • Leverage Group capabilities through adoption and development of single “ONE UK” support platform • Deliver a digitally enabled personal proposition - leveraging RCB customer engagement platforms where relevant • Digitally Enabled Offer a clear mortgage proposition through intermediary online platform • Source: Company Information (1) Includes £1.16bn of mortgages (2) Based on gross loans as at 31 December 2016 Page 71

  65. Focus on Business Banking Opportunity Supported by a Simple and Efficient Operating Platform Strategic Opportunities Critical Success Factors Strategic Direction Sector and Regional Business Banking Significant market opportunity for niche Lean & Efficient Omni-Channel  Specialist players/specialists distribution in NI GB Growth Optionality & Diversification Underserved customers value local, Compelling Local Market RM & Service-  relationship managed distribution led Capability Distribution Focused Challenger Northern Ireland Business Banking Specialist Specialist capability not consistently  distributed locally/regionally by scaled Sectoral Focus & Expertise players Enhanced Digital Led Retail Channels and Propositions SMEs value full suite of products – specialty UK-Wide  Lean and Efficient lenders unable to provide full banking Agility & Speed of Response Lower Cost to Serve relationship Increased Returns Source: Company Information Page 72

  66. UK Financial Snapshot - 2016  UK Income – 11% of Operating Contribution of AIB Group New Lending Total Book Total Book Loan Portfolio (£bn) Change Y-o-Y 2016 2016 2015  Income increased 8% from stable interest income and higher levels of AIB GB 1.3 5.1 5.1 0% lending related fee income. Average yield 3.30% 3.60% First Trust Bank 0.2 2.4 2.5 -4%  Stable net interest income despite BoE rate cut Average yield 3.71% 3.03% − Low cost self-funding model Total 1.5 7.5 7.6 -1% − Stable asset yields Customer Accounts (£bn) 2016 2015 Change Y-o-Y Current accounts 5.2 4.6 12%  Current accounts up 12% to £5.2bn and reduced term and treasury Deposit accounts 3.7 4.0 -8% deposits (-8%) supports lower funding costs Group Cost of Deposit Accounts 0.83% 1.12%  New lending £1.5bn across a range of key sectors and lower than 2015 Income Generation (£m) 2016 2015 Change Y-o-Y (£1.9) due to : Net interest income 183 183 0% Other income 54 36 50% − Brexit impact Total Income 237 219 8% − Discipline around returns  Source: Company Information Overall stable loans £7.5bn Page 73

  67. UK Strategy Fully Aligned with AIB Group Strategic Priorities • GB – linking central sectoral expertise with local relationship distribution network to provide compelling full service banking proposition for target customers and sectors Customer First • Northern Ireland – multi-channel access for retail customers with increasing digital enablement, expanded direct banking proposition for mass market SME clients and local relationship distribution network for higher value business and corporate customers Moving to a more simple business support model with single OneUK operational platform and back office supporting both AIB GB and First Trust • Simple & Leveraging AIB Group operating platform and efficiencies wherever possible • Efficient Reducing FTEs by c.180-200 • Sustainable balance sheet growth within strong risk parameters • Risk & Capital Focus on strong risk-adjusted returns and embedding RARoC (1) discipline across UK business • Refreshed senior management team in AIB UK • Talent & Culture Flattening and simplifying AIB UK organisational structures • Outcomes...  Balance sheet growth  Sustainable returns Further growth in GB and NI Lower Cost to Serve Lean and Efficient  Cost Efficiency Business Source: Company information (1) Risk adjusted return on capital Page 74

  68. Operating Platform & Investment Strategy Tomás O’Midheach Chief Operating Officer

  69. Investment Approach 2012-2014 Investment strategy focused on: Digital investment has enhanced our customer experience • Rationalisation of our infrastructure Complete Consistent Connected • Digital & Direct Channel investment Branch Transactions Growth of Lending on Digital Phone Banking Avg. Daily Calls m K 2013–2016 3.8x Growth 21.2 174 19.9 18.7 18.5 112 67 74 16.5 10.8 9.1 8.3 52 13,000 107 46 11,000 10.2 60 4.7 9.1 9.6 9,000 28 8,000 2014 2015 2016 2013 2014 2015 2016 2013 2014 2015 2016 Digital Branch & Phone IDD OTC Debit Card – 45% Increase in Transaction Data Storage – 600% Increase in Five Transactions via Digital Channel Activity Since 2014 Years m m Terabytes 30.6 Data Storage in AIB 238 26.9 4,000 24.7 23.5 0.9 1.2 192 3,000 0.8 14.8 6.7 164 8.8 11.0 2,000 16.9 1,000 15.1 14.6 14.9 - 2013 2014 2015 2016 2014 2015 2016 2011 2012 2013 2014 2015 2016 Internet Mobile Tablet Success led to increased activity and a need to invest in our operating platform - Investment strategy 2015-2017 Source: Company Information Page 76

  70. Investment Plan: 2015-2017 Substantially Complete - Focus on Harvesting Commentary €870m Investment (2015-2017) on Track €m Significant uplift of spend for this period, ~313 3 year Investment Plan focused on four key areas 292 265 Resilience - Ensuring our infrastructure is current & resilient with investments being made in • the following areas: Payments & Treasury Transformation Programmes Sustainment & Maintenance – O ngoing investment in planned maintenance and routine • change Strategic - Initiatives principally focused on customer engagement channels , Process • efficiencies (BPM-Business Process Management) (AOM-Active operations Management) & Data & Analytics Regulatory - Spend ongoing and significantly more funding required in 2017 due to projects • such as IFRS9 and PSD2 Expect to return to more normalised level of spend from 2018 Actual 2015 Actual 2016 Forecast 2017 Our focus is now on harvesting a return on the digital capability that we have put in place Resilience Sustainment & Maintenance Strategic Regulatory Source: Company Information Page 77

  71. Impact of Investment on the Target Architecture Fit for Purpose Platform with Clear, Cost Effective Go-Forward Strategy Retail Customer Business Customer WIB Customer 1 4 CUSTOMER ENGAGEMENT CAPABILITY SECURITY Contact Relationship Manager / Modular approach – no “big-bang” IT CAPABILITY Mobile Tablet Web Branch Centre Advisory solution UI/UX Framework DTM 2 3 PROCESS CAPABILITY INFORMATIONAL & ANALYTICAL CAPABILITY  Continued investment in front end, WCM API Management Reliable Messaging Service Customer Comm. customer engagement technology DAM Security Hub ID&V Roles & Service Implementation MRM  Modernised processing and Entitlement API Portal Service Analytics Analytics Event Bus Product analytical solutions to deliver Micro Aggregated Rules Customer BAM / APM BPM Hub FireEye & Dettica – Services Services Engines Insights Configuration enhanced capability advanced threat Management Payments/ Fraud detection Credit Monitoring  Fit for purpose security leveraging ForcePoint – data ODS CIF ECM Infrastructure Alerting loss prevention industry best practices Risk Spark Predictive Integration Mediator Analytics  Core replacement of our Treasury & 5 Finance & Risk Payments System Reporting CORE SYSTEM EDW Hadoop Accounting Core HR Finance Treasury Payments Finance Systems Applications Risk ETL New Technology Modernise/Replace Core Replacement Sustain Source: Company Information Page 78

  72. Simple & Efficient: Example of Process Efficiency, Automation Customer Data & Displacement A typical manual process – Paper based, physical transport, manual inputs and outputs Banking Operations CUSTOMER CHANNEL AIB CUSTOMER Impact (2014-2016) PROCESSING Process simplification A - Z has resulted in: Customer request Validate & Create output Deliver to Deliver to Open &  380 FTE reduction branch Transfer sort Deliver Input commit Transfer customer ‘14 – ’16 2016 process improvement – Foundation components, Edge, Scanning, BPM, BPM Portal, Data store, Events, Team led PI  40% reduction in branch paper inputs  17% increase in Deliver to branch Operational Informed Customer Productivity Validate & Create output customer request Open & commit experience Branch scan Transfer sort Deliver Input Transfer  Branch digitally End state – Omni-Channel, Scanning, Automation, exceptional processing, Communications hub, Events, Robotics, SOA informed of request status Create output Deliver to Customer Omni-Channel Validate & Transfer Open & sort Deliver Input Transfer customer request commit Removing steps immediately benefits the customer and the Bank Source: Company Information Page 79

  73. IT & Operations – Evolved People Capability Increased Expertise, Flexibility and Access Focus on Optimisation of Resources 2014 2016 IT 33% Partners 25% Banking Operations & Banking Contact Centre Operations & 58% IT Contact Centre 17% 67% 6 major contracts with 5 new strategic technology partners , 500 staff transitioned , key part of enabling our transformation programme • Leveraging partners in our operating model where appropriate for critical skills and/or reduce time and cost to deliver • Greater resource flexibility enabled • Cyber capability strengthened, outsourced Security Operations Centre resulting in enhanced detective controls and third party collaboration • New Digital function established with focus on Design, Process, Data & Channel Development • Nature of AIB resource capability is changing – embed design, optimise cost, build skills and maximise value from strategic partners Source: Company Information Page 80

  74. Performance Driven by Strategic Priorities • We are building Complete, Consistent and Connected Omni-Channel solutions Customer First • Investment strategy is rooted in customer experience. By automation we are delivering standardised, repeatable, de-risked straight through processing end to end Simple & • Efficient Post 2017 focus is on harvesting the on-going benefits from the increased investment made • Delivering a more secure, resilient and flexible IT Architecture • Risk & Capital Significant investment made in cyber security • Enabling flexibility in our operating model by leveraging partners where appropriate for critical skills • Talent & Culture Significant engagement with Third Level Institutions creating pipeline for future talent and development • Outcomes…  Digitalisation  Simplification BPM  Digital Capture of Inputs Informing our Customers Systems Resilience Process Automation Resilience Source: Company Information Page 81

  75. NPL Evolution & Strategy Mark Bourke Chief Financial Officer

  76. Significant Progress Already Made in De-Risking Balance Sheet Impaired Loans 14% of Gross €65bn Loans; Down From 35% in 2013 AIB Impaired Loan Evolution Impaired loan evolution: • Reduction of c. €20bn since 2013 €bn – Dedicated work out unit set up 47% 55% 44% 51% – Case by case restructuring • Customer focused solutions 28.9 • Based on affordability • Coverage evolution reflects mix of 22.2 impaired loans and current profile of the impaired book – Coverage on Mortgages 38% (2016) 13.0 13.1 10.8 – Coverage on Non-Mortgages 51% 9.1 (2016) 6.9 5.1 • Improving LTV on mortgage portfolio LTV 2013 2016 2013 2014 2015 2016 RoI Mortgage Stock 103% 74% Impaired Loan Coverage (1) Gross Impaired Loans Net Impaired Loans RoI Impaired Mortgage 130% 103% Source: Company Information (1) Coverage metrics based on specific provisions (i.e. excl. IBNR provisions) Page 83

  77. Tangible Success in Curing Customers and Using Provisioning to De-Lever the Balance Sheet Impaired Loans Reduced Within Existing Balance Sheet Provisioning Levels and Without Significantly Impacting Capital (8.0) €bn 3.1 Cash Collections 28.9 Customer €4bn & Cures restructures – without Loss €4bn includes secondary facilities €3.6bn (6.9) (2016) New to Imparied (50% lower 2016 vs 2014) – normalised levels Utilisation of (8.0) provision stock to write-off / writedown 55% 9.1 44% 2013 New to Impaired Cash / Cures Fundamental Restructures Write-offs 2016 Provision Coverage Source: Company Information Page 84

  78. Full Set of Solutions Designed to Provide Customer Focused Outcomes and Reduce Risk Financial Solutions Group Work Out Unit (FSG): Support customers in difficulty whilst optimising return on impaired debt through application of solutions tailored • Dedicated work out unit set up in 2012 to differing asset classes • Team with appropriate skillset focusing on customer Forbearance solution and post restructure monitoring Case by case assessment allowing for temporary & permanent solutions • AIB has developed a comprehensive tool kit of solutions to support customers • Solutions are designed to meet customer needs – with short or long term solutions utilised on a case by case Retail Non-Retail basis − These solutions form a critical part of AIB’s deleveraging strategy and provide a range of Approach: levers to support future planned de-risking Customer Engages Focus on Long Term Sustainable Solutions Based on Affordability / Sustainable Debt FSG 2016 Metrics Typical solutions include arrears capitalisation and €87m Costs Typical solutions includes fundamental restructures term extension c.1,100 FTEs Source: Company Information Page 85

  79. Non-Performing Exposures a Key Focus in Regulatory Process Impaired to NPE Reconciliation Impaired: • IFRS accounting definition €bn 14.1 2.9 NPEs: • EBA regulatory definition 1.2 • Relevant for Regulatory Reporting (FINREP), EBA stress testing & capital planning 0.9 9.1 Reconciliation • NPEs include All 90 DPD (1) which are not impaired - − €0.9bn − Collateral Disposals - €1.2bn − Loans previously receiving forbearance solution for a period of one year thereafter Non-impaired, post - €2.9bn restructuring (one year after) Convergence of NPEs to Impaired driven by timing lag on forbearance / restructured loans Impaired 90 Days Past Due (Not Collateral Disposals Restructured Loans in NPEs Impaired) Probationary Period Source: Company Information (1) Includes 90 DPD related to connected debt Page 86

  80. NPE Strategy: Medium Term Target of Bringing NPE in Line with European Banking Norms Targeting Further Deleveraging to European Norms • 54% reduction in NPEs from 2013 to 2016 through normal restructuring €bn 30.7 • NPE Plan to reduce Impaired loans through: 28.9 − Sales & Redemptions 26.2 − Cures €87m 22.2 FSG Cost 35% − Restructures 18.0 − Portfolio sales & strategic initiatives FSG FTE c.1,100 29% 14.1 13.0 13.1 • Maintain appropriate sized FSG team with 10.8 22% 9.1 cost opportunity as portfolio reduces 6.9 19% 5.1 European Norms • European Banks NPE ratio (1) - 5.4% 14% 2013 2014 2015 2016 Medium term NPEs Gross Impaired Loans Net Impaired Loans Impaired Ratio NPE Ratio Source: Company Information (1) ECB Risk Dashboard, Q3, 2016 Page 87

  81. Financial Performance Mark Bourke Chief Financial Officer

  82. 2012-2016: Business Model Delivering Growth Increased NIM (1) and NII    New Lending Reduced Operating Costs (2) €bn % €m €1.5bn €2bn 123% 52% 8.7 8.5 2.42% 2.25 1,748 1.97 5.9 1,470 1.69 1,403 1,377 1,296 1.37 1.22 3.9 n.m. 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Net Interest Income Exit NIM Cost: Income Ratio Source: Company Information (1) NIM Excl ELG (2) Excluding exceptional items Page 89

  83. 2012-2016: Business Model Delivering Growth - Cont’d    NPLs Reduced Return to Profit (1) Capital Accretion (2) €bn Profit / (Loss) Before Tax (€m) %, FL CET1 Ratio 1,914 (257bps) +44bps 1,682 15.3 1,111 13.0 29.4 28.9 11.8 10.5 10.2 22.2 13.1 (1,687) 9.1 (3,729) 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 CoR Source: Company Information (1) Figures shown for continuing operations and post the effect of exceptional items (2) 2012 - 2014 FLT CET1 stated inclusive of 2009 preference shares Page 90

  84. Financial Highlights in 2016 Key Performance Metrics in Line with Expectations Sustainable underlying profitability underpinned by positive NII and margin trajectory  NIM 2.25% (1) - exit NIM 2.42% (2) Stable earning loan book (ex-FX) driven by strong momentum in new lending  New lending €8.7bn Continued reduction in impaired loans; pace and quantum of writebacks moderating  Impaired loans reduced from €13.1bn to €9.1bn Robust capital position supporting growth and capital return  CET1 (FL) 15.3% (3) Source: Company Information (1) Excludes Eligible Liabilities Guarantee (ELG) (2) Q4 2016 Page 91 (3) CET1 Ratio of 15.3% is inclusive of proposed €250m dividend

  85. Operating Performance

  86. Income Statement Sustainable Underlying Profitability  Summary Income Statement (€m) 2016 2015 Operating income €2.6bn Net interest income 2,013 1,927 − Net interest income up 4% Other income 617 696 − Net interest margin up 28bps to 2.25%; continued positive NIM Total operating income 2,630 2,623 trajectory Total operating expenses (1) (1,377) (1,292) − Underlying other income stable excluding one-off benefits Operating Profit Before Provisions 1,253 1,331 Bank levies and regulatory fees (112) (71)  Operating expenses increased €85m (+7%) in line with expectations Provisions 298 923 Associated undertakings & profit on sale 36 28 − Investment programme Operating profit before exceptionals 1,475 2,211 − Wage inflation and increased headcount in loan restructuring & Exceptional items 207 (297) regulatory compliance functions Profit Before Tax From Continuing Operations 1,682 1,914  Net provision writeback of €298m includes €281m new to impaired charge Metrics 2016 2015 Net interest margin (excluding ELG) 2.25% 1.97% − Primary restructuring period concluding Cost income ratio (1) 52.0% 49.0%  PBT of €1.7bn enhanced by one-off items Return on average ordinary shareholders’ equity (2) 11.1% 12.4% Return on assets 1.40% 1.30% Source: Company Information (1) Excludes exceptional items, bank levies and regulatory fees (2) ROE: Profit attributable to ordinary shareholders after deduction of dividend on AT1 as % of average ordinary shareholders’ equity (excludes AT1) Page 93

  87. Average Balance Sheet Further NIM Expansion Driven by Stable Asset Yields and Lower Funding Costs Year ended 31 December 2016 Year ended 31 December 2015 Strong NIM (1) 2.25% (exit NIM 2.42%)  Average Balance (2) Interest Average Rate Average Balance (2) Interest Average Rate €m €m % €m €m % Assets  Stable asset yield of c. 2.85% Loans and receivables to customers 62,116 2,248 3.62 64,868 2,363 3.64 NAMA senior bonds 3,644 11 0.30 7,614 31 0.41 − Yield on customer loans stable – includes Financial investments - AFS 14,925 182 1.22 19,503 398 2.04 Financial investments - HTM 3,419 131 3.83 106 4 3.76 impact of strategic SVR re-pricing actions Other interest earning assets 6,077 18 0.30 7,181 25 0.36 Average interest earning assets 90,181 2,590 2.87 99,272 2,821 2.84 − NAMA Senior Bonds redemptions Non interest earning assets 8,005 7,557 Total Assets 98,186 2,590 106,829 2,821 − AFS yields falling as higher yielding assets Liabilities and shareholders’ equity roll off Deposits by banks 9,728 (13) (0.13) 15,734 4 0.03 Customer accounts 38,894 324 0.83 43,777 490 1.12 Subordinated liabilities 1,629 199 12.22 1,625 278 17.10  Reduced cost of funds to c. 1% Other debt issued 7,474 50 0.67 7,475 92 1.23 Average interest earning liabilities 57,725 560 0.97 68,611 864 1.26 Non interest earning liabilities 28,056 25,985 − Deposit re-pricing actions - customer Shareholders’ equity 12,405 12,233 accounts lower at 0.83% (FY2015 1.12%) Total Liabilities and Shareholders' Equity 98,186 560 106,829 864 Net Interest Income Excluding ELG (1) 2,030 2.25 1,957 1.97 − Positive mix from term deposits to ELG (17) (0.02) (30) (0.03) Net interest income including ELG 2,013 2.23 1,927 1.94 current accounts 2013 2014 2015 2016 − Maturity of €1.6bn CoCo (July 2016) – NII (ex ELG) 1,518 1,746 1,957 2,030 30bps FY NIM impact NIM (%) 1.37 1.69 1.97 2.25 Source: Company Information (1) Net interest margin excluding ELG (2) Interest on any assets or liabilities in hedge relationships include the net interest on the related derivatives; 2015 represented Page 94

  88. Other Income Stable Net Fees and Commission Income Net Fee & Commission Income €m  405 Stable underlying fee and commission income of €395m 395 84 77 − Current accounts represent c. 50% of net fees and commission 48 51 85 83 income 188 184  Other business income fluctuated due to valuations on long term customer derivative positions 2015 2016  Current accounts Card Credit Related Fees Other Fees & Commission Continued flow of income from other items in 2016 − AFS disposals €31m Other Income (€m) 2016 2015 Net fee and commission income 395 405 − NAMA bonds cashflow re-estimation €10m Other business income 98 128 − Settlements and other gains €83m Business Income 493 533 Gains on disposal of AFS securities 31 85 Re-estimation of the timing of cash flows on NAMA bonds 10 6 Settlements and other gains 83 72 Other Items 124 163 Total Other Income 617 696 Source: Company Information Page 95

  89. Costs Continued Focus on Cost Discipline While Progressing on Strategic Investment Programme  Operating Expenses (1) Disciplined cost management − Significant reduction in cost base from 2012 - €365m (-21%) €m 49% 52% 1,742 1,465 − 2016 operating expenses €1,377m (+7%) in line with expectations 1,397 1,377 1,292 701  614 Factors impacting cost 630 660 567 − Staff costs down €8m since 2015 – average number of FTE down 1,041 851 767 725 717 4% and incorporating wage inflation and outsourcing for future 2012 2013 2014 2015 2016 resilience Staff Costs Other Costs CIR% − Continued investment in loan restructuring operations Full Time Equivalent – Employees (2) − Increased burden of regulatory compliance # 13,459  Investment in strategic programmes 11,431 11,047 10,204 10,376 − Total investment programme €870m (2015 to 2017) Spend to date c. €600m (3) of which approx. 75% is capital − expenditure − Investment in line with strategic agenda – delivering growth, 2012 2013 2014 2015 2016 efficiency and customer satisfaction Source: Company Information (1) Excluding exceptional items and bank levies (2) Period end Page 96 (3) P&L impact of this investment spend is reflected in the P&L in operating expenses and in exceptional items for certain strategic elements

  90. P&L - Other Items Exceptional Benefits and Provision Writebacks Partially Offset by Regulatory Fees & Levies Other PL items (€m) 2016 2015  Bank levies and regulatory fees €112m (1) Operating Profit Before Provisions 1,253 1,331 − Bank Levy €60m Bank Levies and Regulatory Fees (112) (71) SRF (2) €18m − Provisions 298 923 DGS (2) €35m − Associated Undertakings & Profit on Sale 36 28 Net credit provision writeback of €294m (3) mainly due to case by case  Operating Profit Before Exceptionals 1,475 2,211 restructuring of customers in difficulty Total Exceptional Items (€m) 2016 2015 − €281m new to impaired charge in line with 2015 Operating Profit Before Exceptionals 1,475 2,211 − €452m net writeback of specific provisions Restitution & Restructuring Expenses (58) (250) − €123m IBNR release Gain on Transfer of Financial Instruments 17 5  Exceptionals in 2016 include Profit on Disposal of Visa Europe 272 0 − €58m of restitution & restructuring expenses − €17m gain on transfer of financial instruments Termination Benefits (24) (37) €272m (4) profit on Visa Europe transaction − Other Exceptional Items 0 (15) − €24m of termination benefits Profit Before Taxation 1,682 1,914 Source: Company Information (1) Includes other regulatory fees +€1m – UK FSCS (2) Single Resolution Fund; Deposit Guarantee Scheme Page 97 (3) Excludes non-credit provision writebacks of €4m provision (4) €188m cash, €19m deferred consideration, and €65m fair value of preferred stock in Visa Inc

  91. Segmental Financial Performance

  92. AIB Revised Segments in Line with Business See Appendix Slide 124 for Reconciliation of Segments to Group Group & AIB Ireland AIB UK International (1) Retail & Commercial Banking Wholesale, Institutional & Group Treasury & support AIB UK (“UK”) (“RCB”) Corporate Banking (“WIB”) (1) functions Largest retail and commercial Corporate Banking – >360K retail and SME Treasury activities • • • • bank in Ireland relationship-driven model with customers Central control & support • sector specialisms > 2.3m personal & SME FTB – focused challenger in functions • • customers Real Estate Finance – Northern Ireland • centralised origination and Multibrand - AIB, EBS & Haven GB – SME specialist • • management 297 locations and 982 ATMs • Syndicated & International • Finance Specialised Finance – • structured finance, mezzanine finance Source: Company Information (1) Syndicated & International Finance previously part of Group & International, from 2017 reported in WIB Page 99

  93. RCB (Earning Book) – Dec 2016 P&L Items (€m) 2016 2015 Change Y-o-Y  Total RCB Income – 71% of Operating Contribution of AIB Group Net Interest Income 1,131 1,046 +8%  Other Income 398 382 +4% Interest Income up €85m (+8%) Total Operating Income 1,529 1,428 +7% − Cost of deposits reduce and changing mix (increase in current Operating Expenses (655) (591) +11% accounts) Operating Contribution 874 837 +4% − Mortgage multi-brand strategy driving pricing Balance Sheet Items (€bn) 2016 2015 Change Y-o-Y Mortgages 23.4 23.3 +0% − Trackers redeeming at c. €1bn pa Personal 2.1 1.9 +11%  Strong Current account relationship provides stable Fees & Commissions Business 4.4 4.2 +5% Income Total RCB Core Book 29.9 +2% 29.4  Costs up €64m due to investment programme, wage inflation and FSG Performing Loans 8.4 8.4 0% regulatory burden Total Net Loans 38.3 37.8 +1% New Lending 3.9 3.3 +18%  New lending €3.9bn (+20%) across all portfolios – driven mortgages Current Accounts 19.4 +16% 16.7 market share up to 36%; differentiated sector focus for SME and digital Deposits 23.5 23.7 (1%) enablement for Personal Customer accounts 42.9 40.4 +6%  €8.4bn of restructured loans and connected debt are included in RCB Key Metrics 2016 2015 Change Y-o-Y segment with lower Ave Gross Yield (2.89%) which are Performing Asset Yield (%) – Loans to Customers 3.20% 3.30% (10bps) Group Cost of Deposits(%) 0.83% 1.12% (29bps) Cost Income Ratio (CIR) (1) 43% 41% +2%-pts Source: Company Information (1) Cost based on direct and centrally managed costs Page 100

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