Ulster Seek First European Final Since 2012 as Exeter Visit for Challenge Cup Semi-Final

Key facts

• Ulster host Exeter Chiefs at Affidea Stadium, Belfast, on Saturday at 5:30pm BST.
• The winner will face either Montpellier or Dragons in the final in Bilbao on 22 May.
• Ulster have not reached a European final since 2012 and last won silverware in 2006.
• Exeter won the European Champions Cup in 2020 but have never reached a Challenge Cup final.
• Ulster are missing James Hume (neck) and Angus Bell (foot) due to injury.
• Exeter are without Ethan Roots, Greg Fisilau, Paul Brown-Bampoe, and captain Jack Yeandle (suspended).
• Ulster beat Exeter 52-24 in Belfast in January 2025 but Exeter's form has since improved.
• Ulster are unbeaten at home in Europe this season, scoring 27 tries and 210 points in six Challenge Cup matches.

A Home Semi-Final After 27 Years

For the first time in 27 years, Ulster will play a European semi-final on home soil. The province, who last reached a European final in 2012, welcome Exeter Chiefs to the Affidea Stadium in Belfast for the EPCR Challenge Cup semi-final on Saturday, kick-off at 5:30pm BST. The match carries enormous stakes: the winner advances to the final in Bilbao on 22 May, where they will face either Montpellier or Dragons. For Ulster, it is a chance to end a 19-year trophy drought dating back to the 2006 Celtic League title, while Exeter seek their first Challenge Cup final after winning the Champions Cup in 2020.

Injury Returns Bolster Ulster's Line-Up

Ulster head coach Richie Murphy has been able to welcome back three key players from injury for the semi-final. Nick Timoney (hip), Tom O’Toole (hand), and Jude Postlethwaite (hand) have all fully integrated into team training this week and secured starting places. Murphy has made 14 changes to the side that lost last week's BKT United Rugby Championship derby away to Munster, retaining only full-back Michael Lowry. The starting XV features nine Ireland internationals and is captained by experienced second row Iain Henderson. However, Ulster are still without James Hume (neck) and Australian prop Angus Bell (foot), both injured in the defeat to Leinster two weeks ago. The province had feared a worse injury crisis after six players picked up knocks in that match, but the return of O’Toole and Postlethwaite, along with Bryn Ward (shoulder) among the replacements, has eased concerns.

Exeter's Suspensions and Transformation

Exeter arrive in Belfast without four key players due to suspension: back row Ethan Roots, Greg Fisilau, Paul Brown-Bampoe, and captain Jack Yeandle. The absences weaken a side that has undergone a significant transformation since their last visit to Belfast in January 2025, when Ulster thrashed them 52-24 in the Investec Champions Cup. Ulster captain Iain Henderson acknowledged the change: 'We know the Exeter side, and the games that they’ve been producing over the last number of weeks and months, is way different to the Exeter side that we saw here last year. I think it’s going to be incredibly tough.' Exeter have never reached a Challenge Cup final, but their pedigree in European rugby is proven by their 2020 Champions Cup triumph. The English side will rely on the likes of Steve Varney and Ross Vintcent to create chances, as they did early in the match when Vintcent was stopped by a superb tackle from Nick Timoney.

Ulster's Unbeaten Home Record in Europe

Ulster have been formidable at home in Europe this season, winning all four of their Challenge Cup fixtures at the Affidea Stadium. They have beaten Racing 92, Stade Français, the Ospreys, and La Rochelle, scoring 27 tries and 210 points across their six Challenge Cup matches overall. The province's half-back pairing of Jack Murphy and Nathan Doak have each scored 22 points during the competition. Doak, however, missed an early penalty in the semi-final, pulling his kick inches wide of the uprights with the score still 0-0 after 11 minutes. Ulster's back three features Zac Ward, the team's leading try scorer this season with 12 tries, who has bagged braces against La Rochelle and Leinster recently. Jacob Stockdale and captain Michael Lowry complete the back-three, with Lowry having captained his province for the first time in a competitive match against Munster last week.

A Stepping Stone to Greater Ambitions

Ulster's presence in the Challenge Cup was not part of the original plan. After a dismal 2024/25 season where they finished third from bottom in the URC, they entered the competition from the pool stages for the first time, having previously only parachuted in from the Champions Cup. Head coach Richie Murphy sees the Challenge Cup as a stepping stone. 'First European semi-final in 20 years at home, it's a massive occasion in itself,' he said this week. The competition has served as a launchpad for other clubs: Bath and Toulon, both semi-finalists in this year's Champions Cup, have lifted the Challenge Cup in recent years. Even reaching the final would offer valuable experience for a squad that has not played in a major final since the 2020 Pro14 decider against Leinster, which was played behind closed doors at the Aviva Stadium during the early months of Covid-19. A destination final in Bilbao would be a new experience for many of the players.

The Stakes: A Final in Bilbao and a Chance at History

The winner of Saturday's semi-final will travel to Bilbao for the final on 22 May, facing either Montpellier or Dragons. For Ulster, a victory would secure a first European final appearance since 2012 and a first trophy since the 2006 Celtic League title. For Exeter, a win would give them a shot at becoming the first English side to win both the Champions Cup and the Challenge Cup. The Chiefs have not reached a European final since their 2020 Champions Cup triumph, and a Challenge Cup title would mark a significant achievement for a club in transition. With both teams desperate for silverware and a place in history, the semi-final promises to be a fiercely contested encounter. As Henderson put it: 'A semi-final is big for any club, but a home semi-final is massive. It’s something we strived towards at the start of the season. We talked about getting home knockout matches. We didn’t talk about getting to quarters or semis, we just wanted home knockout matches.'

A Test of Character for Both Sides

The match will test the resilience of both squads. Ulster have had to overcome an injury crisis and a recent slump in league form, losing to Leinster and Munster in consecutive weeks. Exeter, meanwhile, must cope with the absence of four suspended players and the memory of a heavy defeat in Belfast earlier this year. Ulster's ability to bounce back from adversity will be crucial. The province have shown character in Europe this season, breezing through the pool stages and earning a home semi-final. But the pressure of a knockout match, with a final in sight, will be a different challenge. For Exeter, the suspension of key players could be a motivating factor. The Chiefs will need to rely on their depth and the lessons learned from their January defeat. As the match unfolds, the team that handles the occasion better is likely to emerge victorious and book their place in Bilbao.

The bottom line

• Ulster host Exeter in the Challenge Cup semi-final on Saturday, with a place in the Bilbao final at stake.
• Ulster have nine Ireland internationals in their starting XV and are unbeaten at home in Europe this season.
• Exeter are without four suspended players but have improved significantly since their 52-24 loss in Belfast in January.
• The winner will face either Montpellier or Dragons in the final on 22 May.
• Ulster are seeking their first European final since 2012 and their first trophy since 2006.
• Exeter aim to become the first English club to win both the Champions Cup and the Challenge Cup.