Topics of discussion

Firm overview

Operating environment

Financial results

Outlook

Conclusion

1
We have a proven operating model that is supported by a consistent strategic framework

Complete Global Diversified At Scale

Exceptional client Unwavering Long-term Sustainable

franchises principles shareholder value business practices

⚫ Customer centric and easy to do ⚫ Fortress balance sheet ⚫ Continuously investing in the ⚫ Investing in and supporting our
business with future while maintaining expense communities
⚫ Risk governance and controls discipline
⚫ Comprehensive set of products ⚫ Integrating environmental
and services ⚫ Culture and conduct ⚫ Focus on customer experience sustainability into business and
and innovation operating decisions
⚫ Focus on safety and security ⚫ Operational resilience
⚫ Employer of choice for top and ⚫ Serving a diverse customer base
⚫ Powerful brands diverse talent
⚫ Promoting sound governance

2
We have leading client and customer-centric franchises

Market share 2012 2022

U.S. retail deposits1 7.1% +380bps 10.9%
U.S. retail deposits1 Credit card sales11 20.5% +260bps
+190bps 22.4%
U.S. credit card issuer 2 CCB
IB fees4 Client investment assets $159B +3.5x
+4.1x $647B
Primary Business Bank3
Markets revenue5 ⚫ #1 retail deposit share in top three U.S. markets: NYC, LA and Chicago
Treasury Services
revenue6 Investment Banking fees4 7.7% +3.5x
+20bps 7.9%
CIB CIB
Markets revenue5 8.6% +3.5x
+300bps 11.6%
Treasury Services revenue6 5.6%12 +3.5x
+280bps 8.4%
CCB CB
⚫ Operate in 100+ markets globally

Gross IB revenue13 $1.6B +3.5x

+1.9x $3.0B
CB Payments revenue14 $2.7B +3.5x
+121% $5.9B
AWM
⚫ International presence in 34 locations and 66% CB Int’l revenue growth '19-'22

Rated Private Client assets15 $2.0T +3.5x

+100% $4.0T
Bank in the World7 Multifamily lender9
Long-term mutual fund AUM
LT active fund flows (5-yr)8 Middle Market AWM outperforming over 10 years16
72% +3.5x
+18ppts 90%
bookrunner10
⚫ 19 straight years of positive net new flows; $1.6T since 201217
For footnoted information, refer to slide 21

3
Being complete, global, diversified and at scale enables us to meet clients’ and customers’ needs
across the spectrum and through cycles…
OUR DIVERSE BUSINESS MIX PERFORMS THROUGH CYCLES… …AND OUR CLIENTS AND CUSTOMERS BENEFIT FROM A COMPLETE AND AT-SCALE OFFERING
Consumer Banking Fixed Income Markets
Revenue1 by segment ($B)
$132 Business Banking Equity Markets
$123
$111 18 Wealth Management Securities Services
14
AWM 13 9 12
CB 9 Card Services Payments
49 48
CIB2 38 Home Lending Lending

Auto $3.7T $2.8T $4.0T ECM

CCB2 51 51 55 Total assets AUM Client assets DCM
International
Corp. Consumer M&A
2018 2020 2022 Initiatives

79mm $5.6T $10T

U.S. Consumer Daily payment
Revenue1 by type ($B)
consumers payments4 processing5
$132
$123
$111 29
Markets 20
29 >90% 294k 100+
41 Asset Of Fortune 500 Employees Markets Middle Market
NIR3 39 47 Management companies across 60+ globally
do business with us countries

Corporate Client
NII3 53 62
47
Global
2018 2020 2022 Private Bank Commercial Real Estate

For footnoted information, refer to slide 22

4
…strengthening relationships through multi-LOB partnerships and delivering all of JPMorgan Chase to
clients throughout their lifetimes

Select cross-LOB solutions

CCB AWM CB CIB
strengthening segment value propositions
GPB AM Markets / SS Banking Payments

Advanced Chase Wealth Management products

and capabilities powered by Global PB
✓ ✓ ✓ ✓ ✓ Payment solutions including
Individuals real time bill payment and global remittances

CCB CIB Integrated Payment solutions (QuickAccept)

embedded into Chase Complete Banking
~30% of leaders have cross business/function experience 1
50 Market Leadership Teams in the U.S.
✓ ✓ ✓ ✓ ✓ ✓
Employee benefits and retirement accounts
7 U.S. regions; 700+ senior leaders Small provided by Everyday 401K
Businesses
43 Senior Country Officers globally
All focused on cross-LOB growth opportunities
Payment solutions tailored to Middle Market
✓ ✓ ✓ ✓ ✓ ✓ ✓ and specific sectors (e.g., Healthcare, e-
AWM CB Middle
Commerce)

Markets
Sponsor and VC coverage spanning portfolio
companies, GPs and Founders
✓ ✓ ✓ ✓ ✓ ✓ ✓ Global Shares for capital table management and
Larger share plan management for employees
Corporates

Range of customized lending, treasury, markets,

Our value proposition
is further enhanced by ✓ ✓ ✓ ✓ ✓ ✓ ✓ and custody solutions to meet needs of complex
financial institutions
constant investment in Financial &
Investment
Technology ✓ Denotes primary ✓ Relationships with adjacent segments
relationships (e.g., employees) or cross-LOB solution

Our product completeness and scale make us uniquely positioned to strengthen our value proposition to each client segment
For footnoted information, refer to slide 22

5
There are multiple sources of uncertainty ahead
Macro environment
⚫ Health of the consumer ⚫ Pace of QT

⚫ Interaction between interest rates, ⚫ Debt ceiling

persistent inflation and ongoing
tight labor market

Geopolitical
⚫ Ongoing war in Ukraine

⚫ US / China relations

Regulatory
⚫ CCAR / SCB ⚫ Heightened scrutiny of the
banking sector overall
⚫ Basel III endgame / holistic review
⚫ FDIC-related items

We are prepared to deliver for our clients, customers and stakeholders in any environment

6
 Cybersecurity and risk management remain non-negotiable priorities

Three lines of defense Provide operational resiliency

Fraud
Risk and security
Front Line Units

Independent Risk Address multi-jurisdictional

Management Cyber sanctions
Finance
Internal Audit

Compliance
Minimize fraud and cyber risk
Legal
KYC
Protect clients’ assets,
Control money in movement and data
Human Management
Technology
Resources

Comply with AML1 laws and

KYC2 protocols

We are an integral part of a safe, sound and resilient financial system

For footnoted information, refer to slide 22

7
 We remain committed to advancing a sustainable and inclusive economy

Sustainable Development Target: $2.5T over 10 years1

Green Development Community

$1T goal Finance Development 19%
Aiming to drive climate Working to support Striving to advance
action and sustainable socioeconomic development economic inclusion in
resource management in emerging economies developed markets
$482B
$176B $204B $102B cumulative progress
by the end of 2022

Racial Equity Commitment: $30B over 5 years1

95% Invested $100mm+ of equity in Minority Refinanced 14,000+

Depository Institutions and Community Approved funding of incremental mortgage
Development Financial Institutions ~$18B in loans to loans totaling ~$3B
incentivize the

~$29B reported progress Opened 16 Community Center Branches2

preservation of
nearly 170k
affordable housing
rental units in the 406,000 net new low-cost
by the end of 2022 and hired 146 Community Managers U.S. checking accounts with no
overdraft fees
For footnoted information, refer to slide 22

8
Our strong track record has laid the foundation for our continued success

STRONG TRACK RECORD OF PERFORMANCE AND GROWTH… …AND CONSISTENTLY INVESTING… …MAKING US WHO WE ARE TODAY…
TBVPS1 ($) 2022
“We are committed to achieving high

$72 $73
quality of earnings. This means consistently
investing in our businesses”
- Jamie Dimon, 2007
$132B
$66 Revenue3
9% $61
compound annual
growth rate since 2004
445bps > peers2
$48
$51
$54
$56

Technology
58%
Overhead ratio3
$45
vs. 69% for peers2
$41
$39
Bankers, Advisors &

$38B
$34
$30 Branches
$27
$22 $23 Marketing Net Income
$19
$15 $16

Digital, Data, AI
& Product Design
18%
ROTCE1
vs. 12% for peers2
'04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 New and Expanded
Businesses
…AND PREPARING US FOR THE FUTURE

Complete Global Diversified At Scale

For footnoted information, refer to slide 22

9
Our fortress balance sheet principles are designed so we can be a pillar of strength in any environment

As of March 31, 2023

LIQUID BALANCE SHEET STRONG CAPITAL POSITION

Deposits1
$2.3T $1.4T $488B Current JPM Loss-
Absorbing Capacity
All U.S. bank loan
losses during the GFC4
HQLA and marketable Total Loss-Absorbing
securities Capacity
$1.6T $1,208B Allowance
~$800B $460B
CIB, CB, net deposit inflows
$855B
AWM, Corp. since QE restarted

CCB $713B
$1,113B 114% 13.8%
Firm LCR Standardized CET1 ratio

4Q19 1Q23

Sources of liquidity1 $1.4T

$421B $488B
$0.9T
140% 13.9% TLAC

Other Bank LCR Advanced CET1 ratio

unencumbered $236B
~$600B $557B
securities2 increase in
liquidity sources
HQLA-eligible
$421B Tier 1
securities2
$254B
$453B
Cash $203B

4Q19
(120bps)
4Q21
190bps
1Q23 5.9% JPM
NIM3: 3.1% 1.9% 3.8% Firm SLR

For footnoted information, refer to slide 22

10
NII ex. Markets outlook increasing to ~$84B due to First Republic, though sources of uncertainty remain

NET INTEREST INCOME EX. MARKETS1 ($B) SOURCES OF UNCERTAINTY

Medium-term impact to be determined
⚫ Deposit reprice

~$3 ~$84 ⚫ Magnitude and timing

$81
Mid-$70s ⚫ Competitive dynamics and
consumer behavior
4Q23
Assumptions Assumptions
⚫ Balance sheet growth and mix
Assumes Fed Funds target Rate headwinds partially
upper bound reaches offset by moderate loan ⚫ Card Services revolve
4.75% by year end, growth normalization
with two cuts in 4Q23 3Q23
Meaningful catch up in deposit ⚫ Securities reinvestment
Mid-single digit loan growth repricing as lags are removed
strategy
from the current run rate
Card Services Moderate
revolve growth Wholesale Potential upside from
continues loan growth ⚫ Impact of policy choices and
First Republic franchise
2Q23 macro environment
Deposits down slightly YoY
⚫ Pace of quantitative
tightening (QT)

⚫ Path of Fed Funds rate

1Q23
$20.9 ⚫ Size and terms of RRP

⚫ Severity of any recession

2023 Outlook Impact of 2023 Outlook Medium-term

as of 1Q23 First Republic

For footnoted information, refer to slide 23

11
System-wide deposit levels will depend on how QT interacts with RRP and customer behavior

Size of Fed balance sheet

Credit extension Mix of Fed liabilities

Increase balance sheet (“QE”)

Borrow from / sell securities Increase in AUM, invested in non-
to banks Decrease balance sheet (“QT”) RRP assets (e.g., T-bills)
Federal
Individuals, Repay loans / purchase Increase in AUM, invested in Fed’s
Reserve Outlook: continued QT (~$80B per month) MMFs
corporations securities from banks RRP facility
and institutions Outlook: modest loan growth Outlook: growth in RRP likely to continue
to continue absent increase in available T-bills
Evolution of U.S. commercial bank deposits ($T)1

Increases deposits Decreases deposits

($0.4) Spending of Treasury General
$0.8
$18.1 Account (TGA)
($0.6) U.S.
Key questions Issue treasuries to increase TGA
Treasury
($0.7) Outlook: ~neutral over time
How long can unprecedented pace of QT $17.1
continue before triggering reserve scarcity? vs. $4.6T
Fed B/S expansion during QE
(Feb ‘20 – Dec ’21) Growth in advances, if funded by
MMFs selling RRP
17
FHLB Growth in advances, if funded by
Should the terms of RRP be reevaluated
discount notes purchased using
given the extent of deposit drainage?
bank deposits

Dec '21 Loansand

Loans & Fed
Fed B/S TGAand
TGA & FHLB
Other& Apr '23
securities
securities B/S RRP other2

Regardless of macro pressures on deposits, our strategy remains the same: focus on maintaining primary banking relationships
For footnoted information, refer to slide 23

12
Our 2023 expense outlook is unchanged excluding expenses associated with First Republic

ADJUSTED EXPENSE1 ($B) FDIC CONSIDERATIONS

⚫ Finalization of special assessment related to systemic risk
determination
~$3.5 FDIC
special assessment ⚫ Based on May 11 NPR:
~$5 ~$81
– Approximately $3B, pre-tax
$76
12 – Likely to be accrued in 2023
⚫ Includes integration
AWM 12 ⚫ Assessment associated with First Republic
⚫ ~$2B increase in costs
5
investment expense ⚫ No indication of a special assessment
CB 5
⚫ $13B estimated loss to the DIF can be rebuilt through regular-way
⚫ ~$3B increase in
assessments
structural expense
⚫ Includes $0.6B of 28
⚫ Potential redesign to deposit insurance
CIB 27 investments ~$84.5
transitioned into
BAU
2024 CONSIDERATIONS
⚫ Includes $0.5B of
FDIC assessment ⚫ Moderating labor inflation
announced in 2022
⚫ Continued investments
⚫ Modest decrease in 33
CCB 31
volume- and revenue-
⚫ Market-dependent increase in volume- and revenue-related expenses
related expense
⚫ Continued efficiencies
Corp.
1 2 ⚫ Integration costs related to First Republic
2022 2023 Outlook Impact of 2023
before First Republic First Republic Outlook ⚫ Potential increases to regular-way FDIC assessments

For footnoted information, refer to slide 23

13
We continue to invest in positioning the Firm for long-term success

OPPORTUNITIES ACROSS ALL BUSINESSES… …TECHNOLOGY… …AND BEYOND

Total investment expense ($B) Technology Investments Bankers, Advisors & Branches Marketing
$3.0 $2.7
$7.2 $2.6
$15.7 $2.2
$6.7 $2.1
0.9 $1.7
2.2
$13.7
0.8 0.3
1.8 1.0 $5.6 0.2

0.9 0.7
$10.9
3.9 0.2 2021 2022 2023 2021 2022 2023
AWM 1.4
3.2
CB 0.7 3.6 New and Expanded Digital, Data, AI
3.2 Other1
Businesses & Product Design
2.6
CIB 3.0
$1.5

$1.2
7.9 $1.0
Commerce
7.1 $0.9
CCB 5.2 2.7 $0.7 $0.7
1.9 2.3 $0.6
Int.
Consumer $0.2
Corp. 0.5 0.6 0.3 $0.0
0.3
2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023

Totals may not sum due to rounding; for footnoted information, refer to slide 23

14
The regulatory capital environment is uncertain…

MULTIPLE FACTORS AT PLAY, THOUGH ANY POTENTIAL REGULATORY CHANGES WON’T BE IMMEDIATE

RWA – “the denominator” Buffers – “the ratio”

Trading Lending Operational Risk GSIB SCB CCyB

(incl. Repos & FRTB) and CVA
4.5% 4.0% 0%

Basel III endgame Holistic review

Today 1Q25 earliest Today ?

Final Final Rule Final

NPR Comment period Phase-in period ? Period ?
rule implementation ? implementation

Although the ultimate direction of the various components of capital requirements is uncertain, we are prepared for overall requirements to increase

15
…but we have strong organic capital generation capabilities

ORGANIC CAPITAL GENERATION AND EVOLUTION OF CET1 RATIO FROM 1Q22 TO 1Q24

Potential uses:
1Q22 – 1Q23 reflects actuals
1Q23 – 1Q24 is illustrative and based on analyst estimates as of 4/27 (before First Republic) ⚫ FDIC special assessment
⚫ 2023 SCB uncertainty
⚫ Potential regulatory changes
Organic capital generation (net income, less dividends1) ~40bps per
quarter2 RWA growth2 ⚫ Additional business growth
RWA change
⚫ Distributions

Includes RWA ~40bps First

mitigation efforts Republic impact
Includes net
repurchases and ~$20B of excess
13.8% capital available
AOCI 13.5% 13.5%
13.0% target

12.5%

11.9%

11.2% Regulatory
Requirement

SCB: 3.2% 4.0% 4.0%?

GSIB: 3.5% 4.0% 4.5%

1Q22 1Q23 1Q24

Our organic capital generation and proven balance sheet discipline enable us to dynamically adjust to headwinds and pursue strategic opportunities

For footnoted information, refer to slide 23

16
Credit remains benign, but we expect continued normalization throughout the year
WE ARE RESERVED FOR PEAK UNEMPLOYMENT OF 5.8% IN LATE 20241 WE EXPECT NORMALIZED NCOS BY THE END OF 2023
8-quarter weighted average UER forecasts (%) NCO rate (%)
Card Services Consumer ex. Card Wholesale Firmwide
5.8%
5.3%
3.10%
4Q21
2.93%

1Q23 2.60%

Q0 Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8

WE HAVE BUILT RESERVES AS THE OUTLOOK HAS DETERIORATED

1.94%
Firmwide allowance ($B)

22.8 1.47%

18.7
9.5

Wholesale 2 6.5 0.6%

0.6% Pre-pandemic
1.7 2017 – 2019
Consumer ex. 1.9 average
Card
0.3% 0.3%

10.3 11.4
Card Services

4Q21 total allowance 3 Economic Loan growth / mix 1Q23 total allowance 3,4 2019 2020 2021 2022 2023
drivers and credit quality Outlook

For footnoted information, refer to slide 23

17
We are positioned to generate strong ROTCE in a variety of recessionary scenarios
THE BALANCE OF RISKS SKEWS TO THE …BUT WE CAN STILL DELIVER STRONG RETURNS IN A RECESSION
DOWNSIDE…
Illustrative ROTCE1 path by recessionary scenario

Deposit outcomes
20%

18%
Credit normalization
and possible deterioration 17%
1Q22 – 4Q22 through the
quarterly ROTCE cycle target

Impact of policy choices

Investment banking wallet recovery

and new normal

Inflation

Regulatory items 2022 Medium-term

Recessionary scenarios

Inflation Persistent Less persistent Abating Slowly abating Sharply abating

Loan growth Fed Funds Rate

vs. LT policy
Well above Above Below Slightly above Well below
Recession Moderate, delayed Shallow, gradual Shallow, early Moderate to deep, early Moderate to deep, early
depth, timing

For footnoted information, refer to slide 23

18
We remain committed to serving our clients and customers with the full breadth of our offering, while
producing strong returns for all our constituents

Complete
~17%
ROTCE target Global

Promotes stronger and deeper

relationships with customers ~$84B
2023 NII and NII ex. Markets
Allows us to serve more clients everywhere

Diversified
~$84.5B
2023 adjusted expense At Scale

Supports more stable earnings in any

operating environment 13.5%
Target CET1 ratio at 1Q24
Offsets margin compression through volume
growth and facilitates efficiencies

See notes on slide 20 for additional information on ROTCE, NII ex. Markets and adjusted expense

19
Notes on non-GAAP financial measures

1. In addition to analyzing the Firm’s results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis; these Firmwide managed basis results
are non-GAAP financial measures. The Firm also reviews the results of the lines of business on a managed basis. The Firm’s definition of managed basis starts, in each case, with the reported
U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm and each of the reportable business segments on a fully taxable-equivalent basis. Accordingly,
revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These financial
measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-
exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business. For a reconciliation of the
Firm’s results from a reported to managed basis for the full years 2020, 2021 and 2022, refer to page 58 of JPMorgan Chase’s Annual Report on Form 10-K for the year ended December 31,
2022 (“2022 Form 10-K”). For all other periods presented, refer to the Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures disclosure in JPMorgan Chase’s
Annual Report on Form 10-K for each respective year

2. In addition to reviewing net interest income (“NII”), net yield, and noninterest revenue (“NIR”) on a managed basis, management also reviews these metrics excluding CIB Markets (“Markets”,
which is composed of Fixed Income Markets and Equity Markets). Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These
metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm’s lending, investing (including asset-liability
management) and deposit-raising activities, without the volatility associated with Markets activities. In addition, management also assesses Markets business performance on a total revenue
basis as offsets may occur across revenue lines. For example, securities that generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal
transactions revenue. Management believes that disclosure of these measures provides investors and analysts with alternative measures to analyze the revenue trends of the Firm. For a
reconciliation of NII, net yield, and NIR from reported to excluding Markets for the full year 2022 and the first quarter of 2023, refer to page 59 of JPMorgan Chase’s 2022 Form 10-K and page
17 of JPMorgan Chase’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, respectively. For all other periods presented, refer to the Explanation and Reconciliation of the
Firm’s Use of Non-GAAP Financial Measures disclosure in JPMorgan Chase’s Annual Report on Form 10-K for each respective year

3. Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share (“TBVPS”), are each non-GAAP financial measures. TCE represents the
Firm’s common stockholders’ equity (i.e., total stockholders’ equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of related
deferred tax liabilities. ROTCE measures the Firm’s net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm’s TCE at period-end divided by
common shares at period-end. TCE, ROTCE and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm’s use of equity. For a reconciliation from common
stockholders’ equity to TCE for the full years 2020, 2021 and 2022, refer to page 60 of JPMorgan Chase’s 2022 Form 10-K. For all other periods presented, refer to the Explanation and
Reconciliation of the Firm’s Use of Non-GAAP Financial Measures disclosure in JPMorgan Chase’s Annual Report on Form 10-K for each respective year

4. Adjusted expense, which excludes Firmwide legal expense, is a non-GAAP financial measure. Adjusted noninterest expense excludes Firmwide legal expense of $266mm for the full year ended
December 31, 2022. Management believes this information helps investors understand the effect of certain items on reported results and provides an alternate presentation of the Firm’s
performance

20
Notes on slide 3
Slide 3 – We have leading client and customer-centric franchises
1. Federal Deposit Insurance Corporation (FDIC) 2022 Summary of Deposits survey per S&P Global Market Intelligence applies a $1B deposit cap to Chase and industry branches for market share. While many of our branches have
more than $1B in retail deposits, applying a cap consistently to ourselves and the industry is critical to the integrity of this measurement. Includes all commercial banks, savings banks and savings institutions as defined by the FDIC
2. Based on 2022 sales volume and loans outstanding disclosures by peers (American Express Company (AXP), Bank of America Corporation, Capital One Financial Corporation, Citigroup Inc. and Discover Financial Services) and
JPMorgan Chase estimates. Sales volume excludes private label and Commercial Card. AXP reflects the U.S. Consumer segment and JPMorgan Chase estimates for AXP’s U.S. small business sales. Loans outstanding exclude
private label, AXP Charge Card, Citi Retail Cards and Commercial Card
3. Barlow Research Associates, Primary Bank Market Share Database as of 4Q22. Rolling 8-quarter average of small businesses with revenue of more than $100,000 and less than $25mm
4. Dealogic as of April 3, 2023. Rank for 2022
5. Coalition Greenwich Competitor Analytics. Based on JPMorgan Chase’s internal business structure and revenue. Rank for 2022, based on Coalition Index Banks for Markets
6. Coalition Greenwich Competitor Analytics. Reflects global J.P. Morgan Treasury Services business (CIB and CB). Based on JPMorgan Chase’s internal business structure and revenue. Rank for 2022, based on Coalition Index
Banks for Treasury Services
7. Euromoney
8. Active ETF Rank (Simfund)
9. In the U.S.. S&P Global Market Intelligence as of December 31, 2022
10. Refinitiv LPC, 2022
11. Represents general purpose credit card spend, which excludes private label and Commercial Card. Based on company filings and JPMorgan Chase estimates
12. Data as of 2017
13. Includes gross revenues earned by the Firm, that are subject to a revenue sharing arrangement with the CIB, for products sold to CB clients through the Investment Banking, Markets or Payments businesses. This includes
revenues related to fixed income and equity markets products
14. In the fourth quarter of 2022, certain revenue from CIB markets products was reclassified from investment banking to payments. In the first quarter of 2020, the Merchant Services business was realigned from CCB to CIB. With the
realignment, revenue is now reported across CCB, CIB and CB based primarily on client relationship. Financials from 2012 were revised to conform with the current presentation. Includes growth of $161mm that is also included in
the Gross IB revenue metric
15. In the fourth quarter of 2020, the Firm realigned certain wealth management clients from AWM to CCB. Prior-period amounts have been revised to conform with the current presentation
16. 90% of 10-year J.P. Morgan Asset Management long-term mutual fund AUM performed above peer median. All quartile rankings, the assigned peer categories and the asset values used to derive this analysis are sourced from the
fund ranking providers. Quartile rankings are done on the net-of-fee absolute return of each fund. The data providers re-denominate the asset values into U.S. dollars. This % of AUM is based on fund performance and associated
peer rankings at the share class level for U.S.-domiciled funds, at a “primary share class” level to represent the quartile ranking of U.K., Luxembourg and Hong Kong funds, and at the fund level for all other funds. The “primary share
class” is defined as C share class for European funds and Acc share class for Hong Kong and Taiwan funds. In case the share classes defined are not available, the oldest share class is used as the primary share class. The
performance data could have been different if all share classes would have been included. Past performance is not indicative of future results. Effective September 2021, the Firm has changed the peer group ranking source from
Lipper to Morningstar for U.S.-domiciled funds (except for Municipal and Investor Funds) and Taiwan-domiciled funds, to better align these funds to the providers and peer groups it believes most appropriately reflects their
competitive positioning. This change may positively or adversely impact, substantially in some cases, the quartile rankings for one or more of these funds as compared with how they would have been ranked by Lipper for this
reporting period or future reporting periods. The source for determining the rankings for all other funds remains the same. The classifications in terms of product suites and product engines shown are J.P. Morgan’s own and are
based on internal investment management structures
17. Refers to total client asset flows

21
Notes on slides 4-10
Slide 4 – Being complete, global, diversified and at scale enables us to meet clients’ and customers’ needs across the spectrum and through cycles…
1. Totals may not sum due to rounding. See note 1 on slide 20
2. In the first quarter of 2023, the allocations of revenue and expense to CCB associated with a Merchant Services revenue sharing agreement were discontinued and are now retained in Payments in CIB. Prior-period
amounts have been revised to conform with this presentation
3. Ex. Markets. See note 2 on slide 20
4. Total payment volumes reflect Consumer and Small Business customers’ digital (ACH, BillPay, PayChase, Zelle, RTP, External Transfers, Digital Wires), Non-digital (Non-digital Wires, ATM, Teller, Checks) and credit
and debit card payment outflows
5. Based on firmwide data using regulatory reporting guidelines as prescribed by the Federal Reserve Board

Slide 5 – …strengthening relationships through multi-LOB partnerships and delivering all of JPMorgan Chase to clients throughout their lifetimes
1. As of May 5, 2023, 30% of MD employees up to two levels down from the Operating Committee had cross-sub-LOB and/or cross-function mobility since 2017

Slide 7 – Cybersecurity and risk management remain non-negotiable priorities

1. Anti-money laundering (“AML”)
2. Know your customer (“KYC”)

Slide 8 – We remain committed to advancing a sustainable and inclusive economy

1. Select highlights, refer to our 2022 ESG report for additional detail
2. Total Community Center Branches as of April 30, 2023

Slide 9 – Our strong track record has laid the foundation for our continued success
1. See note 3 on slide 20
2. Peers include Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo
3. See note 1 on slide 20

Slide 10 – Our fortress balance sheet principles are designed so we can be a pillar of strength in any environment
1. Totals may not sum due to rounding. Deposits are average for the quarter
2. HQLA-eligible securities includes the Firm’s average eligible HQLA securities and average eligible HQLA securities held by JPMorgan Chase Bank, National Association ("JPMorgan Chase Bank, N.A.") that is in excess
of its stand-alone 100% minimum LCR requirement and not transferable to non-bank affiliates, and thus excluded from the Firm’s reported HQLA under the LCR rule. Other unencumbered securities includes other end-
of-period unencumbered marketable securities, such as equity and debt securities
3. Net yield on average interest-earning assets excluding Markets. See note 2 on slide 20
4. All U.S. banks’ loan losses for the Great Financial Crisis calculated as losses for peak loss years (2009-2011). S&P Capital IQ

22
Notes on slides 11-18
Slide 11 – NII ex. Markets outlook increasing to ~$84B due to First Republic, though sources of uncertainty remain
1. See notes 1 and 2 on slide 20

Slide 12 – System-wide deposit levels will depend on how QT interacts with RRP and customer behavior
1. Totals may not sum due to rounding
2. Includes items from both the Fed balance sheet and all Commercial Banks balance sheets that influence deposits but are not reflected in the other data presented

Slide 13 – Our 2023 expense outlook is unchanged excluding expenses associated with First Republic
1. See note 4 on slide 20. Totals may not sum due to rounding

Slide 14 – We continue to invest in positioning the Firm for long-term success

1. Other includes selected LOB-related acquisition expenses and investments associated with the company’s real estate expenses

Slide 16 – …but we have strong organic capital generation capabilities

1. Dividends include common and preferred stock dividends
2. Represents the median consensus of research analyst estimates as of April 27, 2023

Slide 17 – Credit remains benign, but we expect continued normalization throughout the year
1. As of March 31, 2023
2. Wholesale includes allowance for credit losses in Corporate
3. Totals may not sum due to rounding; 4Q21 and 1Q23 total allowance include $42mm and $90mm, respectively, on investment securities
4. On January 1, 2023, the Firm adopted changes to the TDR accounting guidance. The adoption of this guidance resulted in a net reduction in the allowance for loan losses of approximately $600mm

Slide 18 – We are positioned to generate strong ROTCE in a variety of recessionary scenarios

1. See note 3 on slide 20. ROTCE ranges indicated are estimates

23