AIB Capital Markets Colm Doherty, Managing Director London, 17 th May 2007

2  Contributes 23% of Group Profits –c. 70% of Divisional profits generated outside Ireland  10 year PBT CAGR 20%  Strong recurring customer based income  Cost income ratio 46% ; ROE 20% AIB Capital Markets - Divisional Profile Note:figures for the year to 31/12/2006 * includes €41m distributed to other divisions Corporate Banking332 Global Treasury160 Customer112 Proprietary48 Investment Banking62 * * €

3 Corporate Banking  60% of divisional profits; 70% generated outside Ireland  ROE 18%  Portfolio of €25bn RWA  No. 1 Corporate Bank in Ireland - 40% corporate clearing accounts.  International expansion built around people experience / sector specialism  Overlay with debt fund management capability in leverage / high yield - 6 CDO’s €2bn assets

4 Corporate Banking  Success built around:- –people with deep experience / expertise of premium rated credit sectors –strong risk management framework –conservative credit philosophy –disciplined return (EVA / ROE) focus Evidenced by:-  Long history of low loan losses  Weighted average portfolio grade constant  Average portfolio margin 154 bps  Conservative average hold Leveraged Debt 9 Property20 ABL11 Project Finance11 Institutional19 €m

5 Corporate Banking Outlook  Good economic outlook in key geographies  Excess liquidity in some key sectors (leverage) –weakening credit structures –compression of margins  Over 2/3 of leverage proposals being turned down –Focus on underwriting / larger hold in selected credits –Diversified portfolio allows focus on other sectors for growth  Credit cycle will turn  Tough credit cycle presents opportunity  Key focus on maintaining portfolio quality

6 Global Treasury  22% of divisional profits  70% of revenues from customer services –40% share domestic market –strong Polish franchise –niche but growing UK and US businesses  30% of revenues from trading –average daily var c. €13m –short term interest rate / FX trading –credit trading –strategic interest rate trading  ROE 27%  Highly controlled risk environment / centralised processing platform  Provides group funding and liquidity service

7 Global Treasury Outlook  Strong local economies (Ireland / Poland) underpin demand for customer services  Scope for increased product sales  Capacity to put more risk to work

8 Investment Banking  17% of divisional profits  Irish based fee business –Asset Management –Stockbroking –M&A  Business performing well - benefit from Irish wealth creation  Strong investment returns in AIB managed portfolios  High demand for bespoke wealth management  Strong flow of M&A

9 Conclusion  Resilient high performing business –10 year CAGR 20%; ROE 20%  Well positioned for growth –Geographic diversity –Product specialism –Customer Focus –Flexibility to diversify income streams  Robust risk framework  Uninterrupted profit growth record set to continue