Commentary & Deal Flow

Books €2bn+ (excl JLM interest)

IPTs: 8NC7: MS+125/130bp

• Issuer: Bank of Ireland Group plc (Ticker: BKIR)
• Issuer LEI: 635400C8EK6DRI12LJ39
• Issuer’s Long Term Ratings: A2 / A- (Moody’s / Fitch) (Stable / Stable)
• Expected Ratings of the Notes: A2 / A- (Moody’s / Fitch)
• Form: Reg S Cat 2, Registered form (TEFRA N/A)
• Status: Unsecured, unsubordinated
• Currency / Size: € Benchmark
• Pricing Date: 26-Mar-26
• Settlement/Issue Date: 02-Apr-26 (T+5)
• Maturity Date: 02-Apr-34
• Optional Redemption: One time issuer call option on 02-Apr-33, subject to certain conditions including the consent of the Competent Authority
• Coupon: [•]% Fixed, Annual, Actual / Actual (ICMA)
• Reset Coupon: If not redeemed on the Optional Redemption Date, interest on the Notes will reset to a rate per annum equal to the aggregate of [ ] bps (no step-up) and the 1 year EUR Mid-Swap Rate, accruing from, and including, the Optional Redemption Date to, but excluding, the Maturity Date, to be payable in arrear on the Maturity Date, Benchmark Discontinuation provisions apply (Condition 4(f))
• Denominations: EUR 100,000 and integral multiples of EUR 1,000 in excess thereof
• Governing Law / Listing: Irish law / Irish Stock Exchange Regulated Market (Euronext Dublin)
• Settlement: Settlement Euroclear / Clearstream
• Waiver of set-off: Applicable – Condition 3(d) applies
• Restricted Events of Default: Applicable – Condition 9(b) applies
• Redemption following a Tax Event (Condition 6(b)): Applicable
• Redemption following a Capital Event (Condition 6(e)): Not Applicable
• Redemption following a Loss Absorption Disqualification Event (Condition 6(g)): Applicable
• Loss Absorption Disqualification Event for Partial Exclusion: Applicable
• Clean-up Call (Condition 6(d)): Applicable, threshold of 75%
• Investor Put (Condition 6(f)): Not Applicable
• Substitution and Variation (Condition 6(n)): Applicable
• Documentation: Bank of Ireland Group plc €25,000,000,000 Euro Note Programme Prospectus dated 15-Oct-25 (the “Prospectus”) supplemented on 29-Oct-25 and on 25-Mar-26
• Use of Proceeds: The Notes are intended to be issued as Sustainable Notes and an amount equal to the net proceeds will be used by BOI for the purposes of financing and/or refinancing Eligible Assets as described in the Issuer’s Green Bond Framework, which is available on the website of the Issuer alongside the Second Party Opinion. The Issuer’s Green Bond Framework, the Second Party Opinion and the contents of the Issuer’s website do not form part of this document or the Prospectus and are not incorporated by reference in this document or the Prospectus.
• Target Market: Manufacturer target market (MiFID II product governance and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU or UK PRIIPs Key Information Document (KID) has been prepared as not available to retail in the EEA or in the UK.
• ISIN / Common code: XS3332496184 / 333249618
• Business Days: Following, unadjusted, London, T2
• Advertisement: The Prospectus and the Supplement are, and the Final Terms, when published, will be available at https://investorrelations.bankofireland.com/debt-investors/prospectus-final-terms-related-documents/
• Joint Bookrunners: Barclays, BofA Securities, Davy, ING, Société Générale and UBS Investment Bank
• Green Bond Structurer: ING
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• Timing: Books open, today’s business