FOR CURRENT PENSIONERS THERE WAS NO BUY OUT FUND PROVIDED OR COMPENSATION FOR THIS UNILATERAL REDUCTION

IN OUR ACTUAL MONTHLY INCOME PENSION BENEFITS

unlike

FOR FUTURE PENSIONERS THEIR BENEFIT REDUCTIONS HAD BUY OUT FUNDS PROVIDED AND INDIVIDUALLY RECEIVED

FROM 2015 to NOVEMBER 2021 - BASIC MONTHLY PAY REDUCED!

PENSION INCOME WE WERE RECEIVING IN 2014

CUMULATIVE REDUCED TO DATE

by

cum c€41.5m

IS THE ACTUAL CUMULATIVE AMOUNT THAT OUR BASIC MONTHLY INCOME

HAS BEEN COMPULSORILY

REDUCED AND TAKEN FROM US!!

AVERAGE AGE* OF

PENSIONERS IS NOW 78 YEARS

*those on pension in Dec 2014 whose basic pension was reduced

TAKEN DIRECTLY OUT OF THE POCKETS OF THOSE ON PENSIONS

THIS REDUCTION TO OUR

BASIC PAY IS CUMULATIVE & NOW INTO THE SIXTH YEAR

THIS REDUCTION 'HIT' OUR MONTHLY PAYSLIPS EVERY

MONTH SINCE JANUARY 2015 AS PAYMENT TOWARDS AN ACTUARIAL DEBT.

THIS IS A TECHNICAL CALCULATION IN A SITUATION OF A SCHEME WIND UP

- A DEBT THAT WE DID NOT KNOW WE HAD

SINCE 2012 STAMP DUTY PENSION LEVY 'HIT' ANOTHER DEDUCTION FROM OUR MONTHLY PAY FOR LIFE

A €38.4m GOVERNMENT IMPOSED PENSION LEVY ON THIS MULTI EMPLOYER OCCUPATIONAL PENSION FUND THAT

EACH OF US ARE PAYING BACK TO THE FUND EVERY MONTH

A DEDUCTION* FROM MONTHLY PAY - ONGOING 2.53% PENSION LEVY DEDUCTION EACH

MONTH FOR LIFE

==============================================================================

COST OF LIVING ADJUSTMENTS INITIALLY FROZEN IN 2008 AT 2007'S LEVEL

THEN IN JANUARY 2015 ANNUAL COST OF LIVING ADJUSTME

SO NO INDEXATION EVER FOR US

LIFETIME!! - REDUCTION; DEDUCTIONS; AND FREEZES