1. AIB Group Preliminary announcement of 2001 results

2. A number of statements we will be making in our presentation and in the accompanying slides will not be based on historical fact, but will be “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward looking statements. Factors that could cause actual results to differ materially from those in the forward looking statements include, but are not limited to, global, national and regional economic conditions, levels of market interest rates, credit or other risks of lending and investment activities, competitive and regulatory factors and technology change. visit www.aibgroup.com/investorrelations/home/ Forward looking statement

3. Michael Buckley Group Chief Executive

4. Allfirst suspected fraud update 6 Feb07.00  Stock exchange announcement, $750m loss indicated 7 Feb20.00  Independent investigation endorsed by AIB board  AIB treasury management activities to be centralised 10 Feb13.00  Announcement of Eugene A.Ludwig to lead investigation

5. Allfirst suspected fraud update 20 Feb  Once-off charge of $691m in 2001 annual results  Suspected fraud perpetrated over 5 years 9 Mar  Target date for investigation report Mid Mar  Target date for announcement of findings and actions Pre-tax €789m After-tax€513m Impact

6. Profit Attributable €484m -38% Dividend per Share 43.8c +13% Underlying Earnings per Share* +8% Adjusted Earnings per Share 119.4c +12% Profit before Taxation €612m 2001 reported results * excludes Allfirst suspected fraud, KCH profit, Poland restructuring costs, additional unallocated provision, FRS 17, goodwill amortisation Profit before Taxation Pre Suspected Fraud €1,401m Adjusted Return on Equity 21%

7. Revenue growth +8%* LoansDeposits Banking fees and commissions +10%+17%+11% +1bp Net interest margin * excludes the Allfirst suspected fraud and the impact of currency movements

8. Costs +12% Other +8% Once-off +4% Once-off costs include integration in Poland, euro conversion and development costs in USA Other costs include: special salary adjustments in Rep. Ire & USA Investment in USA and Poland Cost / income ratio 58.5% Significant reduction in cost growth rate this year

9. Robust asset quality / strong provisioning Non-performing loans 2% (1.9% in 2000) Prudent provision cover across the group Additional unallocated credit provision, €50m, in a turbulent economic environment General provision (€454m) 3 times current provision charge

10. to become the standard for 21st century community banking Our strategic goal …..

11. Different markets, one approach Transferable core competencies Common IT architecture and streamlined support infrastructure World class CRM tools Other Relationship Business Retail & Commercial Banking Rep. Ire., GB + NI, USA, Poland AIB wherever we operate... the standard for 21st century community banking

12. AIB Bank Republic of Ireland - profit +9% Most productive bank in Ireland - cost / income reduced again to 51% Promoting home ownership home mortgages +20%, gaining market share Ark life - 15% of profit, no 3 rd party fees Post office agreement enhances customer choice (60% increase in available service transaction time) 1,000 extra customer portfolio managers within 1 year AIB - 21 st century community bank

13. Source:OECD GDP3.76.4 GNP2.96.3 Unemployment rate5.35.3 Growth %2002 (f)2003 (f) Favourable Irish economic outlook

14. Demographics underpin demand 2006

15. Population by age group

16. AIB Bank Great Britain + Northern Ireland - profit +8% G.B. Bank of choice for chosen business segments New relationship managers being recruited 2 new business development centres opened, additional 5 this year N.I. Realigning the network to customer needs 7 new business development centres opened £10m investment programme in branch network Centralising administration - 30% more business development staff this year AIB - 21 st century community bank

17. USA - loss €434m (underlying profit +8%) Allfirst Alignment to community banking model Generating momentum in Direct Retail & SME markets 4% growth in targeted loan portfolios Strong new business growth in Wealth Management Favourable demographics Family incomes 9% above US average Market shares 10-19% No. 1, 2, or 3 in all key counties AIB - 21 st century community bank Cont…/

18. USA /...cont. Building not for profit business Risk assets up 27%, fee income up 41% New locations - Atlanta, San Francisco Complementary businesses acquired - CCS, Ketchum AIB - 21 st century community bank

19. Allfirst focus Repair damage in Allfirst Rebuild retail and commercial momentum Next 6/9 months Thereafter Revalidation of strategic focus

20. Poland - profit (16%*) Transferring core competencies to build top tier position New branch banking model ($100m spend) - implemented for 75% of our business in 6 months Cost agenda on target (€50m p.a. saving by 2003) Branch network ideally positioned AIB - 21 st century community bank * excludes integration costs

21. Capital Markets - profit +22% Customer services driving revenue World class corporate relationship banking model - record profit Fostering innovation (debt management activities, joint venture with Bank of New York) Strong treasury performance AIB - 21 st century community bank

22. Leveraging IT capabilities and initiatives across the Group through: Consolidating and optimising technology infrastructure Prioritising technology and eBusiness investments to deliver Group-wide benefits Enterprise Networks & eBusiness

23. Conclusion 2001 - solid year in volatile circumstances Allfirst suspected fraud a very serious, regrettable event Board / management / staff focused on quickly dealing with all issues arising minimising disruption of business momentum revalidation that all elements of control framework meet highest standards Powerful, resilient franchises A strong balance sheet

24. Gary Kennedy Group Director, Finance, Risk, Enterprise Networks & eBusiness

25. 2001 underlying results Adjusted EPS (c)PBT (€m) Reported year 2001612 Allfirst suspected fraud(789) Adjusted119.41,401 KCH profit10.893 Poland restructuring -2.3(38) Additional unallocated credit provision-5.1(50) Net impact adjusted EPS / PBT3.45 Base for 2002 comparison with 20011161,396

26. 2,997Total operating income 3,78611 2,284Total operating expenses2,28414 Group operating profit 713before provisions1,5027 204Total provisions20452 509Group operating profit 1,2983 612Group profit before tax1,40110 ReportedPre fraudChange * 2001€m2001 on 2000 % Profit and loss account * ex cludes exceptional item in 2000

27. YearYearYear €m200120001999 Profit before Tax*1,3621,2511,132 FRS 17 Implementation392331 Profit before Tax*1,4011,2741,163 Implementation of FRS 17 FRS 17 benefit expected to be €40m approx. in 2002 * before Allfirst suspected fraud in 2001 and exceptional item in 2000

28. 516AIB BankRep Ire5629 205AIB BankGB & NI2238 330USA 3558 159Capital Markets 19422 88Poland 36(16) (24)Group31 - 1,274Group profit before tax1,40110 2000€m2001 Change % * excludes Allfirst suspected fraud ** excludes integration costs Performance by division * * **

29. Underlying 2000€m2001 Change % 2,022Net interest income2,29311 71Other finance income67(6) 1,304Other income1,4265 3,397Total operating income3,7868 40.5%Other income ratio39.4% Operating income * * excludes Allfirst suspected fraud ** excludes the impact of currency movements **

30. Risk weighted asset / loan growth* * excludes the impact of currency movements

31. Underlying 2000€m2001 Change %* 14,302AIB BankRep Ire15,98712 6,789AIB BankGB & NI7,5428 20,318USA22,4034 14,879Capital Markets18,82127 3,655Poland4,1054 279Group- 60,22268,85811 Risk weighted assets * excludes the impact of currency movements

32. Deposit growth

33. H1 2001H2 2001%2001 2000 2.93 3.12Group3.033.02 2.672.72Domestic2.692.75 3.163.50Foreign3.343.23 Net interest margin

34. 1,192Staff costs1,34811 634Other costs7039 171Depreciation & amortisation19511 1,9972,24610 - Integration costs - Poland38 1,997Operating expenses2,28412 58.0%Tangible cost / income ratio58.5% Underlying * 2000€m2001 Change % * excludes the impact of currency movements Operating expenses

35. 360.25AIB Bank Rep Ire430.25 200.29AIB Bank GB & NI190.25 340.27USA370.28 170.23Capital Markets140.17 260.90Poland160.47 1330.301290.26 -Additional unallocated 50 1330.30Total1790.36 2000Average2001 Average €mLoans %€mLoans % Provisions for bad debts

36. %20012000 NPLs / loans2.01.9 Bad debts charge / average loans0.260.30 Provisions / NPLs97100 NPLs / loans ratio at 0.80% (excl. Poland) Provisions / NPLs at 168% (excl. Poland) Asset quality * 0.36% including unallocated provision *

37. €mUnderlying * 2000Assets:2001change % 45,880Loans to customers51,21610 48,437Customer accounts54,55711 80,250Total assets88,8378 Balance sheet * excludes the impact of currency movements

38. Capital ratios Tier 16.5%6.3% Total10.1%10.8% Good capital position to comfortably support all growth objectives Surplus capital generated in each year of our medium term plan 20012000

39. Return on risk weighted assets

40. Strong start to the year…….. 57% increase in Rep. Ireland mortgage activity in January Number 1 market share of Special Savings Investment Accounts - significant increase in January Strong business pipeline in GB & NI Good customer revenues in Capital Markets Operating trends continue to improve in Poland AIB in 2002

41. Reduction in cost / income ratios in all divisions Zero cost growth at Allfirst in 2002 Efficiency gains in Poland. Cost reduction of €50m, >2% of group costs by 2003 Euro conversion costs Development costs in USA % Note: The above year on year cost growth percentages exclude acquisitions and currency factors Active cost management AIB in 2002

42. Robust asset quality - provision charge approx. 35bps of average loans - prudent provision cover maintained AIB in 2002

43. Revenue growth from consistent, dependable and predictable customer sources Active control of costs Robust asset quality Strong balance sheet EPS target mid single digit growth

45. Additional information 2000 figures have been restated due to FRS 17 and new divisional structure

46. 2000€m2001 Change % 738Net interest income84314 46Other finance income43(6) 357Other income3591 1,141Total income1,2459 593Operating costs6418 548Operating surplus60410 36Provisions4424 512Operating profit5609 4Profit on disposal2(33) 516Profit before tax5629 AIB Bank profit statement - Rep Ire

47. 2000€m2001 Change % 318Net interest income3366 4Other finance income3(21) 151Other income1617 473Total income5006 248Operating costs2595 225Operating surplus2417 20Provisions19(7) 205Operating profit2228 - Profit on disposal1- 205Profit before tax2238 AIB Bank profit statement - GB & NI

48. 2000€m2001 Change % 537Net interest income5849 4Other finance income2(46) 381Other income 44617 922Total income1,03212 554Operating costs63815 368Operating surplus3947 38Provisions391 330Profit before tax3558 USA Division profit statement* * excludes Allfirst suspected fraud

49. 2000€m2001 Change % 127Net interest income21067 8Other finance income8- 304Other income 3051 439Total income52319 265Operating costs29612 174Operating surplus 22731 18Provisions38111 156Operating profit18922 3Income from associates547 159Profit before tax19422 Capital Markets profit statement

50. 2000€m2001 Change % 252Net interest income2759 1Other finance income-- 153Other income1636 406Total income4388 296Operating costs35821 -Integration costs38- 110Operating surplus42(27) 23Provisions9(60) 87Operating profit33(19) 1Property disposal3- 88Profit before tax36(16) Poland Division profit statement * * * * excludes integration costs

51. BZWBK (legal entity Polish GAAP)26773 Use of provisions created on acquisition47 BZ Goodwill amortisation -26 Merger costs-38 Other adjustments *-20 Poland division36 2001 PLN€m * includes capital adjustment, consolidation of subsidiaries and alignment with Group accounting policies Poland Division relative to BZWBK

52. 1390.9126AIB BankRep Ire1620.9123 931.3122AIB BankGB & NI1071.3119 870.7205USA-€m870.6222 81-US$m77 290.4262Capital Markets340.4251 52318.062 Poland- €m64318.455 2,014- Pln m2,249 8711.9100Total1,0332.097 As at December 31, 2000 As at December 31, 2001 NPLs/TotalNPLs/Total ActualProvisions/ActualProvisions/ NPLsAdvancesNPLsNPLsAdvancesNPLs €m%€m% Non-performing loans by division

53. Alan Kellyalan.j.kelly@aib.ie  +353-1-6412162 Conor Herlihyconor.v.herlihy@aib.ie  +353-1-6414191 Pat Clarkepatricia.m.clarke@aib.ie  +353-1-6412381 Mary Gethingsmary.gethings@aib.ie  +353-1-6413469 353-1-660 0311 353-1-641 2075 Our Investor Relations Department will be happy to facilitate your requests for any further information Visit our website www.aibgroup.com/investorrelations/home/ Contacts