#1JPMORGAN CHASE & CO. EARNINGS RELEASE FINANCIAL SUPPLEMENT FOURTH QUARTER 2023#2JPMORGAN CHASE & CO. TABLE OF CONTENTS Consolidated Results Consolidated Financial Highlights Consolidated Statements of Income Consolidated Balance Sheets Condensed Average Balance Sheets and Annualized Yields Reconciliation from Reported to Managed Basis Segment Results - Managed Basis Capital and Other Selected Balance Sheet Items Earnings Per Share and Related Information Business Segment Results Consumer & Community Banking ("CCB") Corporate & Investment Bank ("CIB") Commercial Banking ("CB") Asset & Wealth Management ("AWM") Corporate Credit-Related Information Non-GAAP Financial Measures Supplemental Information on First Republic Glossary of Terms and Acronyms (a) JPMORGAN CHASE & Co. Page(s) ܣܐ ܕ ܟ ܗ ܢ ܣ ܝ 9-10 12-15 16-18 19-20 21-23 24 25-28 29 30 (a) Refer to the Glossary of Terms and Acronyms on pages 297-303 of JPMorgan Chase & Co.'s (the "Firm's") Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Form 10-K") and the Glossary of Terms and Acronyms and Line of Business Metrics on pages 200-205 and pages 206-208 respectively, of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023.#3JPMORGAN CHASE & CO. CONSOLIDATED FINANCIAL HIGHLIGHTS (in millions, except per share and ratio data) SELECTED INCOME STATEMENT DATA Reported Basis Total net revenue Total noninterest expense Pre-provision profit (a) Provision for credit losses NET INCOME Managed Basis (b) Total net revenue Total noninterest expense Pre-provision profit (a) Provision for credit losses NET INCOME EARNINGS PER SHARE DATA Net income: Basic Diluted Average shares: Basic Diluted MARKET AND PER COMMON SHARE DATA Market capitalization Common shares at period-end Book value per share Tangible book value per share ("TBVPS") (a) Cash dividends declared per share FINANCIAL RATIOS (c) Return on common equity ("ROE") Return on tangible common equity ("ROTCE") (a) Return on assets CAPITAL RATIOS (d) Common equity Tier 1 ("CET1") capital ratio (e) Tier 1 capital ratio (e) Total capital ratio (e) Tier 1 leverage ratio Supplementary leverage ratio ("SLR") $ $ 4Q23 38,574 24,486 (f) 14,088 2,762 9,307 39,943 24,486 (f) 15,457 2,762 9,307 3.04 3.04 2,914.4 2,919.1 $ 489,320 2,876.7 104.45 86.08 1.05 12% 15 0.95 15.0 % (g) 16.6 (g) 18.4 (g) 7.2 (g) 6.1 (g) 3Q23 $ 39,874 21,757 18,117 1,384 13,151 40,686 21,757 18,929 1,384 13,151 $ 4.33 4.33 2,927.5 2,932.1 $ 419,254 2,891.0 100.30 82.04 1.05 18% 22 1.36 14.3 % 15.9 17.8 7.1 6.0 2Q23 $ 41,307 20,822 20,485 2,899 14,472 $ 42,401 20,822 21,579 2,899 14,472 4.76 4.75 2,943.8 2,948.3 $ 422,661 2,906.1 98.11 79.90 1.00 QUARTERLY TRENDS 20% 25 1.51 13.8 % 15.4 17.3 6.9 5.8 1Q23 $ 38,349 20,107 18,242 2,275 12,622 $ 39,336 20,107 19,229 2,275 12,622 4.11 4.10 2,968.5 2,972.7 $380,803 2,922.3 94.34 76.69 1.00 18% 23 1.38 13.8 % 15.4 17.4 6.9 5.9 4Q22 $ 34,547 19,022 15,525 2,288 11,008 $ 35,566 19,022 16,544 2,288 11,008 3.58 3.57 2,962.9 2,967.1 $ 393,484 2,934.3 90.29 73.12 1.00 16% 20 1.16 13.2 % 14.9 16.8 6.6 5.6 4Q23 Change 3Q23 (3)% 13 (22) 100 (29) (2) 13 (18) 100 (29) (30) (30) 17 | G | 4Q22 JPMORGAN CHASE & CO. 12% 29 (9) 21 (15) 12 29 (7) 21 (15) (15) (15) (2) (2) 24 (2) 16 18 5 2023 $ 158,104 87,172 70,932 9,320 49,552 $ 162,366 87,172 75,194 9,320 49,552 16.25 16.23 2,938.6 2,943.1 $ 489,320 2,876.7 104.45 86.08 4.10 17% 21 1.30 (f) 7.2 6.1 (f) 15.0 % (g) 16.6 (g) 18.4 (g) (g) (g) FULL YEAR 2022 $ 128,695 76,140 52,555 6,389 37,676 132,277 76,140 56,137 6,389 37,676 $ 12.10 12.09 2,965.8 2,970.0 $ 393,484 2,934.3 90.29 73.12 4.00 14% 18 0.98 13.2 % 14.9 16.8 6.6 5.6 2023 Change 2022 23% 14 35 46 32 23 14 34 46 32 34 34 (1) (1) 24 (2) 16 18 2 On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank (the "First Republic acquisition") from the Federal Deposit Insurance Corporation ("FDIC"). Refer to page 30 for additional information. (a) Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Tangible common equity ("TCE") is also a non-GAAP financial measure; refer to page 10 for a reconciliation of common stockholders' equity to TCE. Refer to page 29 for further discussion of these measures. (b) Refer to Reconciliation from Reported to Managed Basis on page 7 for further discussion of managed basis. (c) Ratios are based upon annualized amounts. (d) The capital metrics reflect the Current Expected Credit Losses ("CECL") capital transition provisions. Beginning January 1, 2022, the $2.9 billion CECL capital benefit is being phased out at 25% per year over a three-year period. As of December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023, CET1 capital reflected the remaining $1.4 billion CECL benefit; as of December 31, 2022, CET1 capital reflected a $2.2 billion benefit. Refer to Capital Risk Management on pages 48-53 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, and pages 86-96 of the Firm's 2022 Form 10-K for additional information. (e) Reflect the Firm's ratios under the Basel III Standardized approach. Refer to page 9 for further information on the Firm's capital metrics. (f) Included a $2.9 billion special assessment from the FDIC on certain banks to recover losses to the Deposit Insurance Fund ("DIF") arising from the protection of uninsured depositors resulting from bank resolutions in 2023. (g) Estimated. Page 2#4JPMORGAN CHASE & CO. CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratios, employee data and where otherwise noted) SELECTED BALANCE SHEET DATA (period-end) Total assets Loans: Consumer, excluding credit card loans Credit card loans Wholesale loans Total loans Deposits: U.S. offices: Noninterest-bearing Interest-bearing Non-U.S. offices: Noninterest-bearing Interest-bearing Total deposits Long-term debt Common stockholders' equity Total stockholders' equity Loans-to-deposits ratio Employees (a) 95% CONFIDENCE LEVEL - TOTAL VAR Average VaR (b) LINE OF BUSINESS NET REVENUE (c) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate TOTAL NET REVENUE LINE OF BUSINESS NET INCOME/(LOSS) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate NET INCOME MEMO: SELECTED FIRMWIDE METRICS Wealth Management (d) Client assets (in billions) Numbe ent advis J.P.Morgan Payments (e) Total net revenue Merchant processing volume (in billions) Average deposits (in billions) $3,875,393 410,093 211,123 702,490 1,323,706 643,748 1,303,100 23,097 430,743 2,400,688 $ 4Q23 $ $ $ $ 391,825 (f) 300,474 327,878 55 % 309,926 35 18,097 10,958 4,016 5,095 1,777 39,943 4,788 2,524 1,653 1,217 (875) 9,307 3,177 8,971 4,557 639 730 $3,898,333 408,769 196,935 704,355 1,310,059 3Q23 651,240 1,295,609 22,410 410,267 2,379,526 $ $ 362,793 289,967 317,371 55 % (g) $ 308,669 $ 18,362 11,730 4,031 41 5,005 1,558 $ 40,686 5,895 3,092 1,935 1,417 812 $13,151 2,929 8,867 4,504 610 702 (f) (h) (g) $3,868,240 2Q23 408,204 191,348 700,517 1,300,069 656,778 1,311,893 24,268 406,023 2,398,962 $ $ 364,078 (f) 285,112 312,516 54% 300,066 47 17,233 12,519 3,988 4,943 3,718 $ 42,401 5,306 4,092 1,208 1,226 2,640 $ 14,472 QUARTERLY TRENDS 2,862 8,367 4,729 600 720 $3,744,305 311,433 180,079 637,384 1,128,896 1Q23 663,772 1,290,614 25,071 397,796 2,377,253 295,489 275,678 303,082 $ $ 47 % (g) $ 296,877 $ 16,456 13,600 3,511 4,784 985 $ 39,336 47 5,243 4,421 1,347 1,367 244 $12,622 2,594 8,31. 4,458 559 707 $3,665,743 311,375 185,175 639,097 1,135,647 644,902 1,276,346 4Q22 27,005 391,926 2,340,179 295,865 264,928 292,332 $ $ $ $ 49 % $ 15,793 (1) 10,598 3,404 (1) 4,588 1,183 $ 35,566 293,723 61 4,556 3,314 1,423 1,134 581 11,008 2,438 8,166 4,423 583 732 On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank from the FDIC. Refer to page 30 for additional information. (a) This metric, which was formerly Headcount, has been renamed Employees but otherwise unchanged. (b) Refer to Corporate & Investment Bank VaR on page 18 for further information. 4Q23 Change 3Q23 (1)% 7 1 (1) 1 35-00 +3 1 8 4 T (15) (1) (7) 2 14 (2) (19) (18) (15) (14) NM (29) 8 1 1 5 4 (c) Refer to Reconciliation from Reported to Managed Basis on page 7 for a further discussion of managed basis. (d) Consists of Global Private Bank in AWM and client investment assets in J.P.Morgan Wealth Management in CCB. (e) Predominantly in CIB and CB. Total net revenue includes certain revenues that are reported as investment banking product revenue in CB, excludes the net impact of equity investments. 4Q22 6% 32 14 10 17 2 (14) 10 JPMORGAN CHASE & CO. 3 32 13 12 6 (43) 15 3 18 11 50 12 5 (24) 16 7 NM (15) 30 10 3 10 2023 $3,875,393 410,093 211,123 702,490 1,323,706 643,748 1,303, 100 23,097 430,743 2,400,688 391,825 (f) 300,474 327,878 $ 55 % 309,926 $ 70,148 48,807 15,546 19,827 8,038 $ 162,366 $ 21,232 14,129 6,143 5,227 2,821 49,552 3,177 8,971 18,248 2,408 715 FULL YEAR 2022 $3,665,743 311,375 185, 175 639,097 1,135,647 644,902 1,276,346 27,005 391,926 2,340,179 295,865 264,928 292,332 49% 293,723 $ 54,814 (1) 48,102 (i) 11,533 17,748 80 $ 132,277 $ 14,916 14,925 4,213 4,365 (743) $ 37,676 (g) $ 2,438 8,166 13,909 2,158 779 2023 Change 2022 6% 32 14 10 17 2 (14) 10 3 32 13 12 6 28 1 35 12 NM 23 42 (5) 46 20 NM 32 30 10 31 12 (8) (f) Included a five-year $50 billion Purchase Money Note issued to the FDIC, as well as Federal Home Loan Bank ("FHLB") advances associated with the First Republic acquisition. (g) At December 31, 2023, September 30, 2023, and June 30, 2023, included $144.6 billion, $140.6 billion, and $150.9 billion of client investment assets associated with First Republic, respectively. (h) Included 4,774 individuals associated with First Republic who became employees effective July 2, 2023. (i) 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 the current presentation. Page 3#5JPMORGAN CHASE & CO. CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share and ratio data) REVENUE Investment banking fees Principal transactions Lending- and deposit-related fees Asset management fees Commissions and other fees Investment securities losses Mortgage fees and related income Card income Other income Noninterest revenue Interest income Interest expense Net interest income TOTAL NET REVENUE Provision for credit losses NONINTEREST EXPENSE Compensation expense Occupancy expense Technology, communications and equipment expense Professional and outside services Marketing Other expense (a) TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME NET INCOME PER COMMON SHARE DATA Basic earnings per share Diluted earnings per share FINANCIAL RATIOS Return on common equity (b) Return on tangible common equity (b)(c) Return on assets (b) Effective income tax rate Overhead ratio $ $ 4Q23 1,635 3,725 1,926 4,077 1,697 (743) 263 1,247 696 14,523 47,384 23,333 24,051 38,574 2,762 11,847 1,208 2,409 2,606 1,298 5,118 (d) 24,486 11,326 2,019 (e) 9,307 3.04 3.04 12 % 15 0.95 17.8 63 (e) $ 3Q23 $ 1,722 6,210 2,039 3,904 1,705 (669) 414 1,209 614 17,148 44,556 21,830 22,726 39,874 1,384 11,726 1,197 2,386 2,620 1,126 2,702 21,757 16,733 3,582 $ 13,151 4.33 4.33 18 % 22 1.36 21.4 55 $ 2Q23 1,513 6,910 1,828 3,774 1,739 (900) 278 1,094 3,292 19,528 41,644 19,865 21,779 41,307 2,899 11,216 1,070 2,267 2,561 1,122 2,586 20,822 17,586 3,114 14,472 4.76 4.75 QUARTERLY TRENDS 20 % 25 1.51 17.7 50 (f) (f) $ $ $ 1Q23 1,649 7,615 1,620 3,465 1,695 (868) 221 1,234 1,007 17,638 37,004 16,293 20,711 38,349 2,275 11,676 1,115 2,184 2,448 1,045 1,639 20,107 15,967 3,345 12,622 4.11 4.10 18 % 23 1.38 20.9 52 $ $ $ 4Q22 1,418 4,434 1,655 3,432 1,574 (874) 98 1,226 1,392 14,355 33,054 12,862 20,192 34,547 2,288 10,009 1,271 2,256 2,652 1,093 1,741 19,022 13,237 2,229 11,008 3.58 3.57 16 % 20 1.16 16.8 55 4Q23 Change 3Q23 (5)% (40) (6) 4 (11) (36) 3 13 (15) 6 7 6 (3) 100 1 1 1 (1) 15 89 13 (32) (44) (29) (30) (30) 4Q22 15% (16) 16 19 8 15 168 2 (50) 1 43 81 19 12 21 JPMORGAN CHASE & CO. 18 (5) 7 (2) 19 194 29 (14) (9) (15) (15) (15) $ $ $ 2023 6,519 24,460 7,413 15,220 6,836 (3,180) 1,176 4,784 5,609 68,837 170,588 81,321 89,267 158,104 9,320 46,465 4,590 9,246 10,235 4,591 12,045 87,172 61,612 12,060 49,552 16.25 16.23 17% 21 1.30 19.6 55 (d) (e)(f) FULL YEAR $ $ 2022 6,686 19,912 7,098 14,096 6,581 (2,380) 1,250 4,420 4,322 61,985 92,807 26,097 66,710 128,695 6,389 41,636 4,696 9,358 10,174 3,911 6,365 76,140 46,166 8,490 37,676 12.10 12.09 14 % 18 0.98 18.4 59 2023 Change 2022 (2)% 23 4 8 4 (34) (6) 8 30 11 84 212 34 23 46 12 (2) (1) 1 17 89 14 33 42 32 34 34 On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank from the FDIC. Refer to page 30 for additional information. (a) Included Firmwide legal expense of $175 million, $665 million, $420 million, $176 million and $27 million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $1.4 billion and $266 million for the full year 2023 and 2022, respectively. (b) Ratios are based upon annualized amounts. (c) Refer to page 29 for further discussion of ROTCE. (d) Included a $2.9 billion special assessment from the FDIC on certain banks to recover losses to the DIF arising from the protection of uninsured depositors resulting from bank resolutions in 2023. (e) Included an income tax benefit of $463 million and $428 million for the three months and full year ended December 31, 2023, respectively, related to the finalization of certain income tax regulations. The benefit resulted in a reduction in the Firm's effective tax rate of 4.1 percentage points in the fourth quarter of 2023. (f) Income taxes associated with the First Republic acquisition are reflected in the estimated bargain purchase gain, resulting in a reduction in the Firm's effective tax rate of 3.4 percentage points in the second quarter of 2023. Page 4#6JPMORGAN CHASE & CO. CONSOLIDATED BALANCE SHEETS (in millions) ASSETS Cash and due from banks Deposits with banks Federal funds sold and securities purchased under resale agreements Securities borrowed Trading assets: Debt and equity instruments Derivative receivables Available-for-sale ("AFS") securities Held-to-maturity ("HTM") securities Investment securities, net of allowance for credit losses Loans Less: Allowance for loan losses Loans, net of allowance for loan losses Accrued interest and accounts receivable Premises and equipment Goodwill, MSRs and other intangible assets Other assets TOTAL ASSETS LIABILITIES Deposits Federal funds purchased and securities loaned or sold under repurchase agreements Short-term borrowings Trading liabilities: Debt and equity instruments Derivative payables Accounts payable and other liabilities Beneficial interests issued by consolidated VIES Long-term debt TOTAL LIABILITIES STOCKHOLDERS' EQUITY Preferred stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive income/(loss) ("AOCI") Treasury stock, at cost TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ Dec 31, 2023 29,066 595,085 276,152 200,436 485,743 54,864 201,704 369,848 571,552 1,323,706 22,420 1,301,286 107,363 30,157 64,381 159,308 $ 3,875,393 $ 2,400,688 216,535 44,712 139,581 40,847 290,307 23,020 391,825 (a) 3,547,515 27,404 4,105 90,128 332,901 (10,443) (116,217) 327,878 $ 3,875,393 $ Sep 30, 2023 24,921 486,448 350,059 188,279 534,923 67,070 197,119 388,261 585,380 1,310,059 21,946 1,288,113 127,752 29,677 64,910 150,801 $ 3,898,333 $ 2,379,526 268,750 45,470 165,494 41,963 292,070 24,896 362,793 (a) 3,580,962 27,404 4,105 89,899 327,044 (17,104) (113,977) 317,371 $ 3,898,333 $ Jun 30, 2023 26,064 469,059 325,628 163,563 572,779 64,217 203,262 408,941 612,203 1,300,069 21,980 (b) 1,278,089 111,561 29,493 64,238 151,346 $ 3,868,240 $ 2,398,962 266,272 41,022 JPMORGAN CHASE & CO. Dec 31, 2023 Change 132,264 46,545 286,934 19,647 364,078 (a) 3,555,724 27,404 4,105 89,578 317,359 (14,290) (111,640) 312,516 $ 3,868,240 $ Mar 31, 2023 25,098 520,902 317,111 195,917 519,618 59,274 197,248 412,827 610,075 1,128,896 20,053 1,108,843 115,316 28,266 62,090 181,795 $ 3,744,305 $ 2,377,253 246,396 42,241 145,153 44,711 275,077 14,903 295,489 3,441,223 27,404 4,105 89,155 306,208 (14,418) (109,372) 303,082 $ 3,744,305 $ Dec 31, 2022 27,697 539,537 315,592 185,369 382,919 70,880 205,857 425,305 631,162 1,135,647 19,726 1,115,921 125,189 27,734 60,859 182,884 $ 3,665,743 $ 2,340,179 202,613 44,027 126,835 51,141 300,141 12,610 295,865 3,373,411 27,404 4,105 89,044 296,456 (17,341) (107,336) 292,332 $ 3,665,743 On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank from the FDIC. Refer to page 30 for additional information. (a) Included a five-year $50 billion Purchase Money Note issued to the FDIC, as well as FHLB advances associated with the First Republic acquisition. (b) Included an addition to the allowance for loan losses of $1.1 billion associated with the First Republic acquisition. Sep 30, 2023 17% 22 (21) (9) (18) (16) € 1 (19) (2) (16) (3) (1) (8) 8 (1) | | | Ng E 2 39 (2) 3 (1) Dec 31, 2022 5% 10 (12) 8 27 (23) (2) (13) (9) 17 14 17 (14) 9 6 (13) 6 3 7 2 10 (20) (3) 83 32 5 1 12 40 (8) 12 6 Page 5#7JPMORGAN CHASE & CO. CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS (in millions, except rates) AVERAGE BALANCES ASSETS Deposits with banks Federal funds sold and securities purchased under resale agreements Securities borrowed Trading assets - debt instruments Investment securities Loans All other interest-earning assets (a) Total interest-earning assets Trading assets - equity and other instruments Trading assets - derivative receivables All other noninterest-earning assets TOTAL ASSETS LIABILITIES Interest-bearing deposits Federal funds purchased and securities loaned or sold under repurchase agreements Short-term borrowings Trading liabilities - debt and all other interest-bearing liabilities (b) Beneficial interests issued by consolidated VIES Long-term debt Total interest-bearing liabilities Noninterest-bearing deposits Trading liabilities - equity and other instruments Trading liabilities - derivative payables All other noninterest-bearing liabilities TOTAL LIABILITIES Preferred stock Common stockholders' equity TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY AVERAGE RATES (c) INTEREST-EARNING ASSETS Deposits with banks Federal funds sold and securities purchased under resale agreements Securities borrowed Trading assets - debt instruments Investment securities Loans All other interest-earning assets (a) Total interest-earning assets INTEREST-BEARING LIABILITIES Interest-bearing deposits Federal funds purchased and securities loaned or sold under repurchase agreements Short-term borrowings Trading liabilities - debt and all other interest-bearing liabilities (b) Beneficial interests issued by consolidated VIES Long-term debt Total interest-bearing liabilities INTEREST RATE SPREAD NET YIELD ON INTEREST-EARNING ASSETS Memo: Net yield on interest-earning assets excluding Markets (d) $ 4Q23 540,040 319,056 200,369 374,254 579,450 1,315,439 79,787 3,408,395 144,642 62,069 270,526 $ 3,885,632 $ 1,713,189 254,211 37,941 287,443 23,133 325,843 2,641,760 658,912 34,176 42,447 186,871 3,564,166 27,404 294,062 321,466 $ 3,885,632 4.79 % 5.26 4.59 4.39 3.53 6.97 10.10 5.53 2.78 5.51 5.55 3.58 5.36 5.33 3.50 2.03 2.81 3.86 $ 3Q23 456,954 309,848 188,279 383,576 606,593 1,306,322 80,156 3,331,728 173,998 66,972 267,079 $ 3,839,777 $ 1,694,758 254,105 37,837 288,007 21,890 315,267 2,611,864 660,983 29,508 46,754 178,466 3,527,575 27,404 284,798 312,202 $ 3,839,777 4.58 % 5.06 4.39 4.32 3.23 6.79 9.42 5.32 2.53 5.50 5.38 3.39 5.38 5.33 3.32 2.00 2.72 3.89 $ 2Q23 QUARTERLY TRENDS 495,018 326,563 191,393 391,945 611,552 1,238,237 89,072 3,343,780 169,558 63,339 274,711 $ 3,851,388 $ 1,715,699 263,718 35,335 293,269 15,947 294,239 2,618,207 671,715 28,513 46,934 180,730 3,546,099 27,404 277,885 305,289 $ 3,851,388 4.20 % 4.63 3.91 4.12 3.01 6.59 8.85 5.01 2.24 5.17 4.87 3.25 4.95 5.28 3.04 1.97 2.62 3.83 $ 1Q23 505,662 313,187 192,843 357,682 622,050 1,129,624 95,709 3,216,757 152,081 64,526 276,613 $ 3,709,977 $ 1,670,036 252,310 38,763 277,576 13,483 249,336 2,501,504 650,443 29,769 49,357 180,303 3,411,376 27,404 271,197 298,601 $ 3,709,977 3.87 % 4.06 3.61 4.15 2.79 6.37 7.50 4.68 1.85 4.51 4.40 2.88 4.43 5.39 2.64 2.04 2.63 3.80 4Q22 $ 595,631 306,173 192,412 302,825 625,388 1,126,002 116,640 3,265,071 126,138 78,476 285,586 $ 3,755,271 $ 1,695,233 247,934 39,843 256,533 12,312 246,978 2,498,833 684,921 35,415 56,988 191,929 3,468,086 28,415 258,770 287,185 $ 3,755,271 3.14 % 2.95 2.84 3.75 2.36 5.83 5.76 4.03 1.37 3.15 3.60 2.38 3.74 4.87 2.04 1.99 2.47 3.41 4Q23 Change 3Q23 18% 3 6 (2) (4) 1 | (17) 1 1 • wo | | | 1 16 5 1 - ww1. JPMORGAN CHASE & CO. FULL YEAR 4Q22 w@Run8寸9P+一隻 (9)% 1 W NAF W WB WENG (26) 2023 $ 499,396 317,159 193,228 376,928 604,800 1,248,076 86,121 3,325,708 160,087 64,227 272,202 $ 3,822,224 $ 1,698,529 256,086 37,468 286,605 18,648 296,433 2,593,769 660,538 30,501 46.355 181,601 3,512,764 27,404 282,056 309,460 $ 3,822,224 4.36 % 4.75 4.13 4.25 3.13 6.70 8.90 5.14 2.36 5.18 5.05 3.28 5.11 5.33 3.14 2.00 2.70 3.85 2022 $ 670,773 307,150 205,516 283,108 653,985 1,100,318 128,229 3,349,079 140,778 78,606 285,077 $ 3,853,540 $ 1,748,666 242,762 46,063 268,019 11,208 250,080 2,566,798 719,249 39,155 57,388 185,989 3,568,579 31,893 253,068 284,961 $ 3,853,540 1.35 % 1.51 1.09 3.21 1.77 4.81 2.93 2.78 0.58 1.53 1.62 1.21 2.02 3.23 1.02 1.76 2.00 2.60 (a) Includes brokerage-related held-for-investment customer receivables, which are classified in accrued interest and accounts receivable, and all other interest-earning assets, which are classified in other assets, on the Consolidated Balance Sheets. (b) All other interest-bearing liabilities include brokerage-related customer payables. (c) Interest includes the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. (d) Net yield on interest-earning assets excluding Markets is a non-GAAP financial measure. Refer to page 29 for further discussion of this measure. 2023 Change 2022 (26)% 3 ©‚®º®¤‡ ˆ®€ 20 - € (18) Page 6#8JPMORGAN CHASE & CO. RECONCILIATION FROM REPORTED TO MANAGED BASIS (in millions, except ratios) JPMORGAN CHASE & CO. The Firm prepares its Consolidated Financial Statements using accounting principles generally accepted in the U.S. ("U.S. GAAP"). That presentation, which is referred to as "reported" basis, provides the reader with an understanding of the Firm's results that can be tracked consistently from year-to-year and enables a comparison of the Firm's performance with other companies' U.S. GAAP financial statements. 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. Refer to the notes on Non-GAAP Financial Measures on page 29 for additional information on managed basis. The following summary table provides a reconciliation from reported U.S. GAAP results to managed basis. OTHER INCOME Other income - reported Fully taxable-equivalent adjustments (a) Other income - managed TOTAL NONINTEREST REVENUE Total noninterest revenue reported Fully taxable-equivalent adjustments Total noninterest revenue managed NET INTEREST INCOME Net interest income - reported Fully taxable-equivalent adjustments (a) Net interest income-managed TOTAL NET REVENUE Total net revenue - reported Fully taxable-equivalent adjustments Total net revenue - managed PRE-PROVISION PROFIT Pre-provision profit - reported Fully taxable-equivalent adjustments Pre-provision profit - managed INCOME BEFORE INCOME TAX EXPENSE Income before income tax expense reported Fully taxable-equivalent adjustments Income before income tax expense managed INCOME TAX EXPENSE Income tax expense - reported Fully taxable-equivalent adjustments Income tax expense - managed OVERHEAD RATIO Overhead ratio - reported Overhead ratio - managed (a) Predominantly recognized in CIB, CB and Corporate. $ 696 1,243 $ 1,939 $ $ $ $ 24,051 126 $ 24,177 $ $ $ $ $ 4Q23 $ $ 14,523 1,243 15,766 38,574 1,369 39,943 14,088 1,369 15,457 11,326 1,369 12,695 2,019 1,369 3,388 63 % 61 $ $ $ $ $ $ $ $ $ $ $ $ 3Q23 $ 614 682 1,296 17,148 682 17,830 22,726 130 22,856 39,874 812 40,686 16,733 812 $ 17,545 18,117 812 18,929 3,582 812 4,394 55 % 53 $ $ $ $ $ $ $ $ $ $ 2Q23 $ 3,292 990 4,282 19,528 990 20,518 $ 20,485 1,094 $ 21,579 21,779 104 21,883 41,307 1,094 42,401 17,586 1,094 18,680 3,114 1,094 4,208 QUARTERLY TRENDS 50 % 49 $ $ $ $ 17,638 867 18,505 $ $ $ $ $ 1Q23 $ 1,007 867 1,874 18,242 987 $ 19,229 $ $ 20,711 120 20,831 $ 15,967 987 16,954 38,349 987 39,336 3,345 987 4,332 52 % 51 $ $ $ $ $ $ 20,192 121 20,313 $ $ 34,547 1,019 $ 35,566 $ 4Q22 1,392 898 2,290 $ 14,355 898 15,253 $ $ 13,237 1,019 14,256 15,525 1,019 16,544 2,229 1,019 $ 3,248 55 % 53 4Q23 Change 3Q23 13% 82 50 (15) 82 (12) 6 (3) 6 (3) 69 (2) (22) 69 (18) (32) 69 (28) (44) 69 (23) 4Q22 (50)% 38 (15) 1 38 3 19 4 19 12 34 12 (9) 34 (7) (14) 34 (11) (9) 34 4 $ $ $ $ 68,837 3,782 $ 72,619 $ $ $ $ $ $ 2023 $ 5,609 3,782 9,391 89,267 480 89,747 158,104 4,262 162,366 70,932 4,262 75,194 61,612 4,262 65,874 $ 12,060 4,262 $ 16,322 55 % 54 FULL YEAR $ $ $ $ 61,985 3,148 $ 65,133 $ $ $ $ $ $ $ $ 2022 $ 4,322 3,148 7,470 66,710 434 67,144 128,695 3,582 132,277 52,555 3,582 56,137 46,166 3,582 49,748 8,490 3,582 12,072 59 % 58 2023 Change 2022 30% 20 26 11 20 11 34 11 34 23 19 23 35 19 34 33 19 32 42 19 35 Page 7#9JPMORGAN CHASE & CO. SEGMENT RESULTS - MANAGED BASIS (in millions) TOTAL NET REVENUE (fully taxable-equivalent ("FTE")) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate TOTAL NET REVENUE TOTAL NONINTEREST EXPENSE Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate TOTAL NONINTEREST EXPENSE PRE-PROVISION PROFIT/(LOSS) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate PRE-PROVISION PROFIT PROVISION FOR CREDIT LOSSES Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate PROVISION FOR CREDIT LOSSES NET INCOME/(LOSS) Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management Corporate TOTAL NET INCOME $ $ $ $ $ $ $ $ 4Q23 1,707 (1,816) $ 15,457 $ 18,097 10,958 4,016 5,095 1,777 39,943 9,336 6,774 1,395 3,388 3,593 24,486 8,761 4,184 2,621 2,189 210 366 (1) (2) 2,762 4,788 2,524 1,653 1,217 (875) 9,307 $ $ $ 9,105 7,443 1,375 3,138 696 $ 21,757 $ 3Q23 9,257 4,287 2,656 1,867 862 $ 18,929 $ 18,362 11,730 4,031 5,005 1,558 40,686 $ 1,446 (185) 90 (13) 46 1,384 5,895 3,092 1,935 1,417 812 $ 13,151 $ 17,233 12,519 3,988 4,943 3,718 $ 42,401 $ $ $ $ 2Q23 $ QUARTERLY TRENDS 8,313 6,894 1,300 3,163 1,152 20,822 8,920 5,625 2,688 1,780 2,566 21,579 1,862 38 1,097 145 (243) 2,899 5,306 4,092 1,208 1,226 2,640 $ 14,472 $ $ $ $ 8,065 7,483 1,308 3,091 160 $ 20,107 $ $ 1Q23 $ 16,456 13,600 3,511 4,784 985 39,336 8,391 6,117 2,203 1,693 825 19,229 1,402 58 417 28 370 2,275 5,243 4,421 1,347 1,367 244 $ 12,622 $ $ $ $ $ $ $ $ $ $ 4Q22 15,793 (a) 10,598 (a) 3,404 4,588 1,183 35,566 7,912 (a) 6,495 (a) 1,254 3,022 339 19,022 7,881 4,103 2,150 1,566 844 16,544 1,845 141 284 32 (14) 2,288 4,556 3,314 1,423 1,134 581 11,008 4Q23 Change 3Q23 (1)% (7) 2 14 (2) 3 (9) 1 8 416 13 (5) (2) (1) (9) NM (18) 51 NM 307 92 NM 100 (19) (18) (15) (14) NM (29) JPMORGAN CHASE & CO. 4Q22 15 % 3 18 11 50 12 18 4 11 12 NM 29 ONNI NM (7) 19 49 29 NM 86 21 5 (24) 16 7 NM (15) $ $ $ $ $ $ $ $ $ $ 2023 70,148 48,807 15,546 19,827 8,038 162,366 34,819 28,594 5,378 12,780 5,601 87,172 35,329 20,213 10,168 7,047 2,437 75,194 6,899 121 1,970 159 171 9,320 21,232 14,129 6,143 5,227 2,821 49,552 FULL YEAR $ 54,814 (a) 48,102 (a) 11,533 17,748 80 $ 132,277 $ $ $ $ $ 2022 $ 31,208 (a) 27,350 (a) 4,719 11,829 1,034 76,140 23,606 20,752 6,814 5,919 (954) 56,137 3,813 1,158 1,268 128 22 6,389 14,916 14,925 4,213 4,365 (743) 37,676 2023 Change 2022 28 % 1 35 12 NM 23 ܗ ܟ ܣ 442 50 (3) 49 19 NM 34 81 (90) 55 24 NM 46 42 (5) 46 20 NM 32 (a) 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 the current presentation. Page 8#10JPMORGAN CHASE & CO. CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS (in millions, except ratio data) CAPITAL (a) Risk-based capital metrics Standardized CET1 capital Tier 1 capital Total capital Risk-weighted assets CET1 capital ratio Tier 1 capital ratio Total capital ratio Advanced CET1 capital Tier 1 capital Total capital Risk-weighted assets CET1 capital ratio Tier 1 capital ratio Total capital ratio Leverage-based capital metrics Adjusted average assets (b) Tier 1 leverage ratio Total leverage exposure SLR Total Loss-Absorbing Capacity ("TLAC") Eligible external TLAC MEMO: CET1 CAPITAL ROLLFORWARD Standardized/Advanced CET1 capital, beginning balance Net income applicable to common equity Dividends declared on common stock Net purchase of treasury stock Changes in additional paid-in capital Changes related to AOCI applicable to capital: Unrealized gains/(losses) on investment securities Translation adjustments, net of hedges Fair value hedges Defined benefit pension and other postretirement employee benefit plans Changes related to other CET1 capital adjustments Change in Standardized/Advanced CET1 capital Standardized/Advanced CET1 capital, ending balance Dec 31, 2023 $ 250,606 277,354 308,558 1,675,641 15.0 % (c) 16.6 18.4 $ 250,606 (c) 295,444 1,672,649 이이이이이이이 277,354 (c) 이이이이이이이 15.0 % (c) 16.6 17.7 $ 241,825 8,921 (3,064) (2,240) 229 (c) 4,362 402 (c) $4,540,849 (c) 6.1 % (c) (86) $ 514,180 (c) $3,831,248 (c) $3,785,641 7.2% (c) Sep 30, 2023 455 (198) (c) 8,781 (c) 250,606 (c) $241,825 268,579 300,859 1,692,219 14.3% 15.9 17.8 $241,825 268,579 287,560 1,671,593 14.5% 16.1 17.2 7.1 % $4,500,253 6.0 % $ 496,183 $ 235,827 12,765 (3,080) (2,337) 321 (1,950) (340) (5) (21) 645 5,998 $241,825 Jun 30, 2023 $ 235,827 262,585 295,281 1,706,927 13.8% 15.4 17.3 $ 235,827 262,585 281,953 1,694,714 13.9% 15.5 16.6 $3,796,579 6.9 % $4,492,761 5.8 % $493,760 $ 227,144 14,099 (2,948) (2,268) 423 757 70 11 (6) (1,455) 8,683 235,827 Mar 31, 2023 $ 227,144 253,837 286,398 1,647,363 13.8 % 15.4 17.4 $ 227,144 253,837 273, 122 1,633,774 13.9% 15.5 16.7 $3,656,598 6.9 % $4,327,863 5.9 % $ 488,245 $ 218,934 12,266 (2,963) (2,036) 111 2,212 197 (21) (55) (1,501) 8,210 $227,144 Dec 31, 2022 $218,934 245,631 277,769 1,653,538 13.2 % 14.9 16.8 $218,934 245,631 264,583 1,609,773 13.6 % 15.3 16.4 $3,703,873 6.6 % $4,367,092 5.6 % $ 486,044 $ 209,661 10,652 (2,972) 96 179 1,865 711 (101) (324) (833) 9,273 $218,934 Dec 31, 2023 Change Sep 30, 2023 4% 3 3 (1) 4 3 3 1 1 4 3 (30) 1 4 (29) NM NM NM NM NM 46 4 JPMORGAN CHASE & Co. Dec 31, 2022 14 % 13 11 1 14 13 12 4 3 4 6 15 (16) (3) NM 28 134 (43) 15 NM 76 (5) 14 $ $ 2023 218,934 48,051 (12,055) (8,881) 1,084 5,381 329 (101) FULL YEAR 2022 $ 213,942 36,081 (11,893) (1,921) 629 373 (2,509) (c) 31,672 (c) 250,606 (c) $ (11,764) (611) 98 (1,241) (4,386) 4,992 218,934 2023 Change 2022 *æēgs 11³ 1,1, (362) (a) The capital metrics reflect the CECL capital transition provisions. Beginning January 1, 2022, the $2.9 billion CECL capital benefit is being phased out at 25% per year over a three-year period. As of December 31, 2023, September 30, 2023, June 30, 2023 and March 31, 2023, CET1 capital reflected the remaining $1.4 billion CECL benefit; as of December 31, 2022, CET1 capital reflected a $2.2 billion benefit. Refer to Capital Risk Management on pages 48-53 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 and pages 86-96 of the Firm's 2022 Form 10-K for additional information. (b) Adjusted average assets, for purposes of calculating the leverage ratios, includes quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 capital, predominantly goodwill, inclusive of estimated equity method goodwill, and other intangible assets. (c) Estimated. Page 9#11JPMORGAN CHASE & CO. CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS, CONTINUED (in millions, except ratio data) TANGIBLE COMMON EQUITY (period-end) (a) Common stockholders' equity Less: Goodwill Less: Other intangible assets Add: Certain deferred tax liabilities (b) Total tangible common equity TANGIBLE COMMON EQUITY (average) (a) Common stockholders' equity Less: Goodwill Less: Other intangible assets Add: Certain deferred tax liabilities (b) Total tangible common equity INTANGIBLE ASSETS (period-end) Goodwill Mortgage servicing rights Other intangible assets Total intangible assets $ $ $ $ $ $ Dec 31, 2023 300,474 52,634 3,225 2,996 247,611 294,062 52,538 3,254 2,992 241,262 52,634 8,522 3,225 64,381 $ $ $ $ Sep 30, 2023 $ 289,967 52,492 3,309 3,025 237,191 284,798 52,427 3,511 3,080 231,940 52,492 9,109 3,309 $ 64,910 Jun 30, 2023 $ 285,112 52,380 3,629 3,097 $ 232,200 $ 277,885 52,342 2,191 2,902 226,254 $ 52,380 8,229 3,629 $ 64,238 $ 275,678 52,144 2,191 2,754 $ 224,097 Mar 31, 2023 $ 271,197 51,716 1,296 2,549 220,734 $ $ 52,144 7,755 2,191 $ 62,090 $ $ $ $ $ $ Dec 31, 2022 264,928 51,662 1,224 2,510 214,552 258,770 51,586 1,217 2,508 208,475 51,662 7,973 1,224 60,859 Dec 31, 2023 Change Sep 30, 2023 4% ♡ | + 3 (7) (3) 4 - (3) (1) JPMORGAN CHASE & Co. Dec 31, 2022 13% 2 163 19 15 14 2 167 19 16 2 7 163 6 2023 $ 282,056 52,258 2,572 2,883 $ 230,109 (a) Refer to page 29 for further discussion of TCE. (b) Represents deferred tax liabilities related to tax-deductible goodwill and to identifiable intangibles created in nontaxable transactions, which are netted against goodwill and other intangibles when calculating TCE. FULL YEAR 2022 $ 253,068 50,952 1,112 2,505 203,509 $ 2023 Change 2022 11 % 3 131 15 13 Page 10#12JPMORGAN CHASE & CO. EARNINGS PER SHARE AND RELATED INFORMATION (in millions, except per share and ratio data) EARNINGS PER SHARE Basic earnings per share Net income Less: Preferred stock dividends Net income applicable to common equity Less: Dividends and undistributed earnings allocated to participating securities Net income applicable to common stockholders Total weighted-average basic shares outstanding Net income per share Diluted earnings per share Net income applicable to common stockholders Total weighted-average basic shares outstanding Add: Dilutive impact of unvested performance share units ("PSUS"), nondividend-earning restricted stock units ("RSUS") and stock appreciation rights ("SARS") Total weighted-average diluted shares outstanding Net income per share COMMON DIVIDENDS Cash dividends declared per share Dividend payout ratio COMMON SHARE REPURCHASE PROGRAM (a) Total shares of common stock repurchased Average price paid per share of common stock Aggregate repurchases of common stock EMPLOYEE ISSUANCE Shares issued from treasury stock related to employee stock-based compensation awards and employee stock purchase plans Net impact of employee issuances on stockholders' equity (b) $ $ $ $ 4Q23 9,307 386 8,921 $ 51 8,870 2,914.4 3.04 8,870 2,914.4 4.7 2,919.1 3.04 $ 1.05 34% 15.2 $ 151.02 2,301 0.8 308 $ 13,151 386 12,765 $ $ $ $ 3Q23 $ 80 12,685 2,927.5 4.33 12,685 2,927.5 4.6 2,932.1 4.33 1.05 24 % 15.6 $ 151.46 2,364 0.6 368 $ 14,472 373 14,099 $ $ $ $ (c) $ 2Q23 $ 88 14,011 2,943.8 4.76 14,011 2,943.8 4.5 2,948.3 4.75 1.00 16.7 $ 137.20 2,293 21 % QUARTERLY TRENDS 0.5 467 $ 12,622 356 12,266 73 $ 12,193 $ 1Q23 $ $ 2,968.5 4.11 12,193 2,968.5 4.2 2,972.7 4.10 1.00 24% 22.0 $ 133.67 2.940 10.0 $ 1,028 $ $ $ $ 2,962.9 $ 3.58 $ $ 4Q22 $ 11,008 356 10,652 54 10,598 10,598 2,962.9 4.2 2,967.1 3.57 1.00 28% 1.2 273 4Q23 Change 3Q23 (29)% (30) (36) (30) (30) (30) 2 (30) T (3) 33 (16) JPMORGAN CHASE & CO. 4Q22 (15)% 8 (16) (6) (16) (2) (15) (16) (2) 12 (2) (15) 5 NM NM NM (33) 13 $ $ $ $ 2023 $ 49,552 1,501 48,051 $ 47,760 2,938.6 291 47,760 2,938.6 16.25 4.5 2,943.1 16.23 4.10 25 % 69.5 142.31 9,898 11.9 $ 2,171 FULL YEAR $37,676 1,595 36,081 2022 189 $ 35,892 $ $ 35,892 2,965.8 $ 2,965.8 12.10 4.2 2,970.0 12.09 4.00 33 % 23.1 135.20 3,122 13.3 1,818 2023 Change 2022 32% (6) 33 54 33 (1) 34 33 (1) 7 (1) 34 2 201 5 217 (11) 19 (a) The Firm is authorized to purchase up to $30 billion of common shares under its current repurchase program. In the second half of 2022, as a result of the expected increases in regulatory capital requirements, the Firm temporarily suspended share repurchases. In the first quarter of 2023, the Firm resumed repurchasing shares under its common share repurchase program. (b) The net impact of employee issuances on stockholders' equity is driven by the cost of equity compensation awards that is recognized over the applicable vesting periods. The cost is partially offset by tax impacts related to the distribution of shares and the exercise of SARS. (c) On September 19, 2023, the Board of Directors declared a quarterly common stock dividend of $1.05 per share. Page 11#13JPMORGAN CHASE & CO. CONSUMER & COMMUNITY BANKING FINANCIAL HIGHLIGHTS (in millions, except ratio data) INCOME STATEMENT REVENUE Lending- and deposit-related fees Asset management fees Mortgage fees and related income Card income All other income (a) Noninterest revenue Net interest income TOTAL NET REVENUE Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense (b) TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME REVENUE BY LINE OF BUSINESS Banking & Wealth Management Home Lending Card Services & Auto MORTGAGE FEES AND RELATED INCOME DETAILS Production revenue Net mortgage servicing revenue (c) Mortgage fees and related income FINANCIAL RATIOS ROE Overhead ratio $ 4Q23 856 899 (d) 261 684 1,270 3,970 14,127 18,097 $ 4,023 5,313 9,336 6,572 1,784 $ 4,788 2,189 (d) (d) 82 179 261 (d) 33% 52 (d) $ 10,877 (e) $ (e) 1,161 6,059 $ $ $ 3Q23 836 891 417 626 1,212 (d) 3,982 14,380 (d) 18,362 1,446 3,975 5,130 9,105 7,811 1,916 5,895 11,345 1,252 5,765 162 255 417 41 % 50 (d) (d) (d) $ $ (e) $ $ 2Q23 841 816 274 483 1,129 3,543 13,690 (d) 17,233 3,628 4,685 8,313 7,058 1,752 5,306 QUARTERLY TRENDS 1,862 (d) 10,936 1,007 5,290 102 172 274 (d) 38 % 48 (d) (d) $ 1Q23 823 676 223 739 1,162 3,623 12,833 16,456 $ 1,402 3,545 4,520 8,065 6,989 1,746 $ 5,243 (e) $ 10,041 (e) 720 5,695 75 148 223 40 % 49 $ $ 4Q22 $ 834 662 90 694 1,189 3,469 12,324 15,793 1,845 3,339 4,573 (f) 7,912 6,036 1,480 4,556 $ 9,582 584 5,627 43 47 90 (f) (f) 35 % 50 (f) (f) 4Q23 Change 3Q23 2% 1 (37) 9 5 (2) (1) 51 1 4 3 (16) (7) (19) (4) (7) 5 (49) (30) (37) JPMORGAN CHASE & Co. 4Q22 3% 36 190 (1) 7 14 15 15 19 20 16 18 9 21 5 14 99 8 91 281 190 $ $ $ $ 2023 3,356 3,282 (d) 1,175 2,532 4,773 (d) 15,118 55,030 (d) 70,148 6,899 (d) 15,171 19,648 34,819 (d) 28,430 7,198 21,232 421 754 1,175 38 50 FULL YEAR 43,199 (e) $ 4,140 (e) 22,809 % $ $ $ 2022 3,316 2,734 1,236 2,469 (f) 5,131 (f) 14,886 39,928 54,814 3,813 13,092 18,116 (f) 31,208 19,793 4,877 (f) 14,916 30,059 (f) 3,674 21,081 497 739 1,236 29 % 57 2023 Change 2022 1% 20 (5) 3 (7) 2 38 28 81 16 8 12 44 48 42 44 13 8 (15) 2 (5) (a) Primarily includes operating lease income and commissions and other fees. Operating lease income was $666 million, $685 million, $704 million, $741 million and $777 million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $2.8 billion and $3.6 billion for the full year 2023 and 2022, respectively. (b) Included depreciation expense on leased assets of $425 million, $458 million, $445 million, $407 million and $463 million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $1.7 billion and $2.4 billion for the full year 2023 and 2022, respectively. (c) Included MSR risk management results of $7 million, $111 million, $25 million, $(12) million and $(98) million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $131 million and $93 million for the full year 2023 and 2022, respectively. (d) Includes First Republic. Refer to page 30 for additional information. (e) Banking & Wealth Management and Home Lending included revenue associated with First Republic of $745 million and $346 million, respectively, for the three months ended December 31, 2023, $1.0 billion and $351 million, respectively, for the three months ended September 30, 2023, $596 million and $235 million, respectively, for the three months ended June 30, 2023, and $2.3 billion and $932 million, respectively, for the full year 2023. (f) 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 the current presentation. Page 12#14JPMORGAN CHASE & CO. CONSUMER & COMMUNITY BANKING FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except employee data) SELECTED BALANCE SHEET DATA (period-end) Total assets Loans: Banking & Wealth Management (a) Home Lending (b) Card Services Auto Total loans Deposits Equity SELECTED BALANCE SHEET DATA (average) Total assets Loans: Banking & Wealth Management Home Lending (c) Card Services Auto Total loans Deposits Equity Employees 4Q23 $ 642,951 $ 31,142 (d) 259,181 (d) 211,175 77,705 579,203 629,744 30,718 (f) 261,394 (f) 202,685 76,409 571,206 $ 3Q23 1,094,738 (e) 1,136,884 (e) 55,500 55,500 141,640 626, 196 30,574 (d) 261,858 (d) 196,955 74,831 564,218 $ 622,760 30,686 (f) 264,041 (f) 195,245 74,358 564,330 1,092,432 (g) 1,143,539 (g) 55,500 55,500 141,125 $ 2Q23 QUARTERLY TRENDS 620,193 30,959 (d) 262,432 (d) 191,353 73,587 558,331 1,173,514 (e) 55,500 $ 576,417 30,628 (f) 229,569 (f) 187,028 71,083 518,308 1,157,309 (g) 54,346 137,087 $ $ 1Q23 506,382 28,038 172,058 180,079 69,556 449,731 1,147,474 52,000 506,775 28,504 172,124 180,451 68,744 449,823 1,112,967 52,000 135,983 4Q22 $ 514,085 $ 29,008 172,554 185,175 68,191 454,928 1,131,611 50,000 504,859 29,412 174,487 177,026 67,623 448,548 1,142,523 50,000 135,347 4Q23 Change 3Q23 3% 2 (1) 7 4 3 (4) 1 1 +3+ (1) (4) JPMORGAN CHASE & Co. 4Q22 25% 7 50 14 14 27 (3) 11 25 4 50 14 13 27 (4) 11 5 2023 $ 642,951 $ 31,142 (d) 259,181 (d) 211,175 77,705 579,203 1,094,738 (e) 55,500 584,367 30,142 (f) 232,115 (f) 191,424 72,674 526,355 1,126,552 (g) 54,349 141,640 FULL YEAR $ 2022 514,085 29,008 172,554 185,175 68,191 454,928 1,131,611 50,000 $ 497,263 31,545 176,285 163,335 68,098 439,263 1,162,680 50,000 135,347 2023 Change 2022 25% 7 50 14 14 27 (3) 11 18 (4) 32 17 7 20 (3) 9 5 (a) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022 included $94 million, $129 million, $163 million, $205 million and $350 million of loans, respectively, in Business Banking under the Paycheck Protection Program ("PPP"). Refer to pages 108-109 of the Firm's 2022 Form 10-K for further information on the PPP. (b) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, Home Lending loans held-for-sale and loans at fair value were $3.4 billion, $4.1 billion, $3.9 billion, $4.2 billion and $3.0 billion, respectively. (c) Average Home Lending loans held-for sale and loans at fair value were $4.7 billion, $5.7 billion, $5.3 billion, $3.5 billion and $4.5 billion for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $4.8 billion and $7.3 billion for the full year 2023 and 2022, respectively. (d) At December 31, 2023, included $4.0 billion and $90.7 billion for Banking & Wealth Management and Home Lending, respectively, $3.1 billion and $91.2 billion, respectively, at September 30, 2023, and $3.4 billion and $91.3 billion, respectively, at June 30, 2023, associated with First Republic. (e) Includes First Republic. In the fourth quarter of 2023, CCB transferred certain deposits associated with First Republic to AWM, CB, and CIB. Refer to page 30 for additional information. (f) Average Banking & Wealth Management and Home Lending loans associated with First Republic were $3.4 billion and $91.1 billion, respectively, for the three months ended December 31, 2023, $3.2 billion and $91.1 billion, respectively, for the three months ended September 30, 2023, $2.7 billion and $57.2 billion, respectively, for the three months ended June 30, 2023, and $2.4 billion and $60.2 billion, respectively, for the full year 2023. (g) Average deposits associated with First Republic were $42.9 billion, $66.7 billion and $47.2 billion for the three months ended December 31, 2023, September 30, 2023, and June 30, 2023, respectively, and $39.4 billion for the full year 2023. Page 13#15JPMORGAN CHASE & CO. CONSUMER & COMMUNITY BANKING FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data) CREDIT DATA AND QUALITY STATISTICS Nonaccrual loans (a)(b) Net charge-offs/(recoveries) Banking & Wealth Management Home Lending Card Services Auto Total net charge-offs/(recoveries) Net charge-off/(recovery) rate Banking & Wealth Management (c) Home Lending Card Services Auto Total net charge-off/(recovery) rate 30+ day delinquency rate Home Lending (d)(e) Card Services Auto 90+ day delinquency rate - Card Services Allowance for loan losses Banking & Wealth Management Home Lending Card Services Auto Total allowance for loan losses $ $ $ $ 4Q23 3,740 81 6 1,426 125 1,638 1.05 % 0.01 2.79 0.65 1.15 0.66 % 2.14 1.19 1.05 685 578 (f) 12,453 742 14,458 $ $ $ 3Q23 3,690 88 (16) 1,227 100 1,399 1.14 % (0.02) 2.49 0.53 0.99 0.59% 1.94 1.13 0.94 686 573 (f) 11,901 742 13,902 $ $ $ 2Q23 QUARTERLY TRENDS 3,823 92 (28) 1,124 63 1,251 1.20 % (0.05) 2.41 0.36 0.98 0.58 % 1.70 0.92 0.84 731 777 (f) 11,600 717 13,825 $ $ $ 1Q23 3,835 79 (18) 922 69 1,052 1.12 % (0.04) 2.07 0.41 0.96 0.81 % 1.68 0.90 0.83 720 427 $ $ $ 11,400 716 13,263 (g) $ 4Q22 3,899 95 (33) 725 58 845 1.28 % (0.08) 1.62 0.34 0.75 0.83 % 1.45 1.01 0.68 722 867 11,200 715 13,504 4Q23 Change 3Q23 1% (8) NM 16 25 17 JPMORGAN CHASE & CO. | ܝ ܗ | ܟ 4Q22 (4)% (15) NM 97 116 94 (5) (33) 11 4 7 $ $ $ $ 2023 3,740 340 (56) 4,699 357 5,340 1.13 % (0.02) 2.45 0.49 1.02 0.66 % 2.14 1.19 1.05 685 578 (f) 12,453 742 14,458 FULL YEAR $ $ $ 2022 3,899 370 (229) 2,403 144 2,688 1.17 % (0.14) 1.47 0.21 0.62 0.83 % 1.45 1.01 0.68 722 867 11,200 715 $ 13,504 2023 Change 2022 (4)% (8) 76 96 148 99 (5) (33) 11 4 7 (a) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, nonaccrual loans excluded mortgage loans 90 or more days past due and insured by U.S. government agencies of $123 million, $123 million, $139 million, $164 million and $187 million, respectively. These amounts have been excluded based upon the government guarantee. In addition, the Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance. (b) Generally excludes loans that were under payment deferral programs offered in response to the COVID-19 pandemic. (c) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, included $94 million, $129 million, $163 million, $205 million and $350 million of loans, respectively, under the PPP. Given that PPP loans are guaranteed by the SBA, the Firm does not expect to realize material credit losses on these loans. Refer to pages 108-109 of the Firm's 2022 Form 10-K for further information on the PPP. (d) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, the principal balance of loans under payment deferral programs offered in response to the COVID-19 pandemic was $29 million, $89 million, $177 million, $353 million and $449 million in Home Lending, respectively. Loans that are performing according to their modified terms are generally not considered delinquent. (e) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, excluded mortgage loans 30 or more days past due and insured by U.S. government agencies of $176 million, $175 million, $195 million, $219 million and $258 million, respectively. These amounts have been excluded based upon the government guarantee. (f) At December 31, 2023, September 30, 2023, and June 30, 2023, included $396 million, $396 million, and $377 million allowance, respectively, associated with First Republic. (g) On January 1, 2023, the Firm adopted the Financial Instruments - Credit Losses: Troubled Debt Restructurings accounting guidance. The adoption of this guidance resulted in a net decrease in the allowance for loan losses of $591 million, driven by residential real estate and credit card. Refer to Credit-related information on pages 27-28, and Note 1 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 for further information. Page 14#16JPMORGAN CHASE & CO. CONSUMER & COMMUNITY BANKING FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data and where otherwise noted) BUSINESS METRICS Number of: Branches Active digital customers (in thousands) (a) Active mobile customers (in thousands) (b) Debit and credit card sales volume (in billions) Total payments transaction volume (in trillions) (c) Banking & Wealth Management Average deposits Deposit margin Business Banking average loans Business Banking origination volume Client investment assets (d) Number of client advisors Home Lending (in billions) Mortgage origination volume by channel Retail Correspondent Total mortgage origination volume (e) Third-party mortgage loans serviced (period-end) MSR carrying value (period-end) Card Services Sales volume, excluding commercial card (in billions) Net revenue rate Net yield on average loans Auto Loan and lease origination volume (in billions) Average auto operating lease assets $ $ $ $ 4Q23 $ 4,897 66,983 (f) 53,828 (f) 441.0 1.5 (f) 19,511 1,130 951,115 5,456 $ 307.2 9.82 % 9.70 4.7 (h) $ 2.5 7.2 631.2 8.5 9.9 10,440 $ $ $ 3Q23 $ 1,077,725 (g) $ 1,127,807 (g) $ 1,142,755 (g) $ 1,098,494 2.82 % 2.83 % 2.92 % 19,520 1,321 882,253 5,424 $ 4,863 66,765 (f) 53,221 (f) 426.3 1.5 (f) 296.2 $ 6.8 (h) $ 4.2 11.0 637.8 9.1 9.60 % 9.54 10.2 10,701 $ 2Q23 $ 19,628 1,275 892,897 5,153 $ $ 4,874 65,559 (f) 51,963 (f) 424.0 1.5 (f) QUARTERLY TRENDS 294.0 $ 7.3 (h) $ 3.9 11.2 604.5 8.2 9.11 % 9.31 12.0 11,015 $ $ 1Q23 $ 4,784 64,998 50,933 387.3 1.4 2.78 % 19,884 1,027 690,819 5,125 3.6 2.1 5.7 575.9 7.7 266.2 10.38 % 9.89 9.2 11,538 $ $ $ $ 1,126,420 $ $ 4Q22 $ 4,787 63,136 49,710 411.1 1.4 2.48 % 20,467 1,081 647,120 5,029 4.6 2.1 6.7 584.3 8.0 284.8 10.06 % 9.78 7.5 12,333 4Q23 Change 3Q23 1% 1 3 (4) (14) 8 1 (31) (40) (35) (1) (7) 4 (3) (2) JPMORGAN CHASE & Co. 4Q22 2% 6 8 7 7 (4) (5) 5 47 8 2 19 7 8 6 8 32 (15) $ 1,678.6 2023 $ 4,897 66,983 (f) 53,828 (f) $ $ 19,634 4,753 $ 5.9 (f) $1,111,682 (g) $ 1,145,727 2.84 % 951,115 5,456 $ 1,163.6 9.72 % 9.61 22.4 (h) $ 12.7 35.1 631.2 8.5 41.3 10,920 FULL YEAR 2022 $ 4,787 63,136 49,710 1,555.4 5.6 1.71 % $ 22,314 4,282 647,120 5,029 38.5 26.9 65.4 584.3 8.0 1,064.7 9.87 % 9.77 30.4 14,259 2023 Change 2022 2% 6 8 COLO 8 5 (3) (12) 11 47 8 (42) (53) (46) 8 6 9 36 (23) (a) Users of all web and/or mobile platforms who have logged in within the past 90 days. (b) Users of all mobile platforms who have logged in within the past 90 days. (c) Total payments transaction volume includes debit and credit card sales volume and gross outflows of ACH, ATM, teller, wires, BillPay, PayChase, Zelle, person-to-person and checks. (d) Includes assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager. Refer to AWM billion, $140.6 billion and $150.9 billion of client investment assets associated with First Republic, respectively. (e) Firmwide mortgage origination volume was $8.6 billion, $13.0 billion, $13.0 billion, $6.8 billion and $8.5 billion for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $41.4 billion and $81.8 billion for the full year 2023 and 2022, respectively. (f) Excludes First Republic. (g) Included $42.9 billion, $66.7 billion, and $47.2 billion for the three months ended December 31, 2023 September 30, 2023, and June 30, 2023, respectively, and $39.4 billion for the full year 2023, associated with First Republic. (h) Included $410 million, $730 million, and $1.1 billion for the three months ended December 31, 2023 September 30, 2023, and June 30, 2023, respectively, and $2.3 billion for the full year 2023, associated with First Republic. results on pages 21-23 for additional information. At December 31, 2023, September 30, 2023, and June 30, 2023, included $144.6 Page 15#17JPMORGAN CHASE & CO. CORPORATE & INVESTMENT BANK FINANCIAL HIGHLIGHTS (in millions, except ratio data) INCOME STATEMENT REVENUE Investment banking fees (a) Principal transactions Lending- and deposit-related fees Commissions and other fees Card income All other income Noninterest revenue Net interest income TOTAL NET REVENUE (b) Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME FINANCIAL RATIOS ROE Overhead ratio Compensation expense as percentage of total net revenue REVENUE BY BUSINESS Investment Banking Payments Lending Total Banking Fixed Income Markets Equity Markets Securities Services Credit Adjustments & Other (c) Total Markets & Securities Services TOTAL NET REVENUE $ $ $ 4Q23 1,654 3,648 585 1,194 361 678 8,120 2,838 10,958 210 3,374 3,400 6,774 3,974 1,450 2,524 9% 62 31 1,576 2,332 150 4,058 4,033 1,778 1,191 (102) 6,900 10,958 $ 3Q23 $ 1,717 5,918 556 1,174 374 131 9,870 1,860 11,730 (185) 3,425 4,018 7,443 4,472 1,380 $ 3,092 11 % 63 29 1,613 2,094 291 3,998 4,514 2,067 1,212 (61) 7,732 $ 11,730 $ 2Q23 $ 1,557 6,697 533 1,219 400 396 10,802 1,717 12,519 38 3,461 3,433 6,894 5,587 1,495 $ 4,092 15 % 55 28 1,494 2,451 299 4,244 4,567 2,451 1,221 36 QUARTERLY TRENDS 8,275 $ 12,519 $ 1Q23 $ 1,654 7,408 539 1,234 315 373 11,523 2,077 13,600 58 4,085 3,398 7,483 6,059 1,638 $ 4,421 16 % 55 30 1,560 2,396 267 4,223 5,699 2,683 1,148 (153) 9,377 $ 13,600 $ 4Q22 $ 1,467 4,397 548 1,200 353 147 8,112 2,486 10,598 141 3,962 648 $ 3,314 3,091 3,404 (d) 6,495 12 % 61 29 1,389 2,120 323 3,832 3,739 1,931 1,159 (63) (d) (d) 6,766 $ 10,598 (d) (d) 4Q23 Change 3Q23 (4)% (38) 5 2 (3) 418 (18) 53 (7) NM (1) (15) (9) (11) 5 (18) (2) 11 (48) 2 (11) (14) (2) (67) (11) (7) JPMORGAN CHASE & CO. 4Q22 13% (17) 7 (1) 2 361 WE | 14 3 49 。 | + | 9 4 124 (24) 13 10 (54) 6 8 (8) 3 (62) 2 3 $ $ 2023 $ 6,582 23,671 2,213 4,821 1,450 1,578 40,315 8,492 48,807 121 20,092 5,963 $ 14,129 14,345 14,249 28,594 13 % 59 29 6,243 9,273 1,007 16,523 18,813 8,979 4,772 (280) 32,284 48,807 FULL YEAR $ $ 2022 6,929 19,926 2,419 5,058 1,249 621 36,202 11,900 48,102 1,158 13,918 13,432 (d) 27,350 19,594 4,669 14,925 14% 57 29 6,510 7,579 1,377 15,466 18,617 10,367 4,488 (836) (d) (d) 32,636 $ 48,102 (d) (d) 2023 Change 2022 (5)% 19 (9) (5) 16 154 11 (29) 1 (90) 3 6 5 3 28 (5) (4) 22 (27) 7 1 (13) 6 67 (1) 1 (a) Includes CB's share of revenue from investment banking products sold to CB clients through the CIB that is subject to a revenue sharing arrangement which is reported as a reduction in All other income. (b) Includes tax-equivalent adjustments, predominantly due to income tax credits and other tax benefits related to alternative energy investments; income tax credits and amortization of the cost of investments in affordable housing projects; and tax-exempt income from municipal bonds of $1.2 billion, $643 million, $953 million, $839 million and $854 million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $3.6 billion and $3.0 billion for the full year 2023 and 2022, respectively. (c) Consists primarily of centrally managed credit valuation adjustments ("CVA"), funding valuation adjustments ("FVA") on derivatives, other valuation adjustments, and certain components of fair value option elected liabilities, which are primarily reported in principal transactions revenue. Results are presented net of associated hedging activities and net of CVA and FVA amounts allocated to Fixed Income Markets and Equity Markets. (d) 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 the current presentation. Page 16#18JPMORGAN CHASE & CO. CORPORATE & INVESTMENT BANK FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio and employee data) SELECTED BALANCE SHEET DATA (period-end) Total assets Loans: Loans retained (a) Loans held-for-sale and loans at fair value (b) Total loans Equity SELECTED BALANCE SHEET DATA (average) Total assets Trading assets - debt and equity instruments Trading assets - derivative receivables Loans: Loans retained (a) Loans held-for-sale and loans at fair value (b) Total loans Deposits Equity Employees CREDIT DATA AND QUALITY STATISTICS Net charge-offs/(recoveries) Nonperforming assets: Nonaccrual loans: Nonaccrual loans retained (c) Nonaccrual loans held-for-sale and loans at fair value (d) Total nonaccrual loans Derivative receivables Assets acquired in loan satisfactions Total nonperforming assets Allowance for credit losses: Allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses Net charge-off/(recovery) rate (a)(e) Allowance for loan losses to period-end loans retained (a) Allowance for loan losses to period-end loans retained, excluding trade finance and conduits (f) Allowance for loan losses to nonaccrual loans retained (a)(c) Nonaccrual loans to total period-end loans 4Q23 $1,338,168 $ 197,523 38,919 236,442 108,000 $1,401,288 490,329 62,454 193,870 39,438 233,308 764,438 108,000 74,404 121 866 828 1,694 364 115 2,173 2,321 1,048 3,369 0.25% 1.18 1.64 268 0.72 3Q23 $1,446,231 $ 194,255 39,069 233,324 108,000 $1,423,182 522,845 65,774 193,683 39,227 232,910 726,617 108,000 74,900 45 978 801 1,779 293 126 2,198 2,414 1,095 3,509 0.09 % 1.24 1.74 247 0.76 2Q23 $1,432,054 $ 194,450 38,959 233,409 108,000 $1,461,857 533,082 63,094 189,153 38,132 227,285 722,818 108,000 74,822 56 924 818 1,742 286 133 2,161 2,531 1,207 3,738 QUARTERLY TRENDS 0.12 % 1.30 1.86 274 0.75 1Q23 $1,436,237 $ 187,133 38,335 225,468 108,000 $1,429,662 488,767 64,016 185,572 42,569 228,141 699,586 108,000 74,352 50 832 808 1,640 291 86 2,017 2,454 1,301 3,755 0.11% 1.31 1.81 295 0.73 4Q22 $1,334,296 $ 187,642 42,304 229,946 103,000 $1,384,255 406,692 77,669 182,873 42,895 225,768 707,541 103,000 73,452 7 718 848 1,566 296 87 1,949 2,292 1,448 3,740 0.02% 1.22 1.67 319 0.68 4Q23 Change 3Q23 (7)% 2 | | | (2) (6) (5) | G | - | (1) 169 (11) 3 (5) 24 (9) (1) (4) (4) (4) JPMORGAN CHASE & CO. 4Q22 5 (8) 3 5 1 21 (20) 6 (8) 3 8 5 % 1 NM 21 (2) 8 23 32 11 1 (28) (10) 2023 $1,338,168 $ 197,523 38,919 236,442 108,000 $1,428,904 508,799 63,836 190,601 39,831 230,432 728,537 108,000 74,404 272 866 828 1,694 364 115 2,173 2,321 1,048 3,369 0.14% 1.18 1.64 268 0.72 FULL YEAR 2022 $1,334,296 $ 187,642 42,304 229,946 103,000 $1,406,250 405,916 77,802 172,627 46,846 219,473 739,700 103,000 73,452 82 718 848 1,566 296 87 1,949 2,292 1,448 3,740 0.05% 1.22 1.67 319 0.68 2023 Change 2022 - % 5 (8) 3 5 2 25 (18) 10 (15) 5 (2) 5 1 232 21 (2) 8 23 32 11 1 (28) (10) (a) Loans retained includes credit portfolio loans, loans held by consolidated Firm-administered multi-seller conduits, trade finance loans, other held-for-investment loans and overdrafts. (b) Loans held-for-sale and loans at fair value primarily reflect lending related positions originated and purchased in CIB Markets, including loans held for securitization. (c) Allowance for loan losses of $95 million, $182 million, $145 million, $153 million and $104 million were held against these nonaccrual loans at December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively. (d) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, nonaccrual loans excluded mortgage loans 90 or more days past due and insured by U.S. government agencies of $59 million, $65 million, $76 million, $99 million and $115 million, respectively. These amounts have been excluded based upon the government guarantee. (e) Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate. (f) Management uses allowance for loan losses to period-end loans retained, excluding trade finance and conduits, a non-GAAP financial measure, to provide a more meaningful assessment of CIB's allowance coverage ratio. Page 17#19JPMORGAN CHASE & CO. CORPORATE & INVESTMENT BANK FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except where otherwise noted) BUSINESS METRICS Advisory Equity underwriting Debt underwriting Total investment banking fees Client deposits and other third-party liabilities (average) (a) Merchant processing volume (in billions) (b) Assets under custody ("AUC") (period-end) (in billions) 95% Confidence Level - Total CIB VaR (average) CIB trading VaR by risk type: (c) Fixed income Foreign exchange Equities Commodities and other Diversification benefit to CIB trading VaR (d) CIB trading VaR (c) Credit Portfolio VaR (e) Diversification benefit to CIB VaR (d) CIB VaR $ $ $ $ $ 4Q23 751 324 579 1,654 660,750 639 32,392 35 10 5 8 (29) 29 16 (13) 32 $ $ 3Q23 $ 767 274 676 1,717 638,119 610 $ 29,725 49 17 7 10 (48) 35 15 (12) 38 $ $ $ 2Q23 $ QUARTERLY TRENDS 540 318 699 1,557 647,479 $ 30,424 600 57 12 8 12 (48) 41 14 (11) 44 $ $ 1Q23 $ 756 235 663 1,654 633,729 $ 29,725 559 56 10 7 15 (44) 44 11 (10) 45 $ $ $ 4Q22 738 250 479 1,467 649,694 583 28,635 66 11 13 18 (50) 58 10 (8) 60 4Q23 Change 3Q23 (2)% 18 (14) (4) 4 5 9 (29) (41) (29) (20) 40 (17) 7 (8) (16) JPMORGAN CHASE & Co. 4Q22 2% 30 21 13 2 10 13 (47) (9) (62) (56) 42 (50) 60 (63) (47) $ $ $ 2023 2,814 1,151 2,617 6,582 645,074 2,408 32,392 $ $ $ FULL YEAR 2022 3,051 1,034 2,844 6,929 687,391 2,158 28,635 2023 Change 2022 (8)% 11 (8) (5) (6) 12 13 (a) Client deposits and other third-party liabilities pertain to the Payments and Securities Services businesses. (b) Represents Firmwide merchant processing volume. (c) CIB trading VaR includes substantially all market-making and client-driven activities, as well as certain risk management activities in CIB, including credit spread sensitivity to CVA. Refer to VaR measurement on pages 133-135 of the Firm's 2022 Form 10-K for further information, and pages 84-86 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 for further information. (d) Diversification benefit represents the difference between the portfolio VaR and the sum of its individual components. This reflects the non-additive nature of VaR due to imperfect correlation across CIB risks. (e) Credit Portfolio VaR includes the derivative CVA, hedges of the CVA and hedges of the retained loan portfolio, which are reported in principal transactions revenue. This VaR does not include the retained loan portfolio, which is not reported at fair value. In the first quarter of 2022, in line with the Firm's internal model governance, the credit risk component of CVA related to certain counterparties was removed from Credit Portfolio VaR due to the widening of the credit spreads for those counterparties to elevated levels. The related hedges were also removed to maintain consistency. This exposure is now reflected in other sensitivity-based measures. Page 18#20JPMORGAN CHASE & CO. COMMERCIAL BANKING FINANCIAL HIGHLIGHTS (in millions, except ratio data) INCOME STATEMENT REVENUE Lending- and deposit-related fees Card income All other income Noninterest revenue Net interest income TOTAL NET REVENUE (a) Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME REVENUE BY PRODUCT Lending Payments (b) Investment banking (b)(c) Other TOTAL NET REVENUE (a) Investment Banking and Markets revenue, gross (d) REVENUE BY CLIENT SEGMENT Middle Market Banking Corporate Client Banking Commercial Real Estate Banking Other TOTAL NET REVENUE (a) FINANCIAL RATIOS ROE Overhead ratio $ $ $ $ $ $ 4Q23 324 (e) $ 191 391 906 3,110 (e) 4,016 366 733 662 1,395 2,255 602 1,653 924 1,898 1,164 939 15 4,016 (e) 1,629 (e) $ 2,045 298 44 4,016 21 % 35 (e) $ (f) $ $ (f) $ 3Q23 410 198 364 972 3,059 4,031 90 (e) 2,566 631 1,935 730 (e) 645 1,375 1,662 2,045 290 34 4,031 821 (e) $ 1,876 1,208 921 26 4,031 (e) 25 % 34 (e) $ (f) $ $ $ (f) $ 2Q23 QUARTERLY TRENDS 249 201 385 835 3,153 3,988 1,097 656 644 1,300 1,591 383 1,208 273 47 3,988 767 1,480 (e) $ 2,188 1,916 1,229 806 37 $ 3,988 (e) 16% 33 (e) $ (f) $ (f) $ 1Q23 227 173 381 781 2,730 3,511 417 641 667 1,308 1,222 1,972 306 11 $ 3,511 1,786 439 1,347 881 1,681 1,176 642 12 $ 3,511 18% 37 $ $ $ $ 4Q22 $ 243 171 315 729 2,675 3,404 284 607 647 1,254 1,185 1,937 248 34 $ 3,404 1,866 443 1,423 700 1,619 1,109 666 10 3,404 22% 37 4Q23 Change 3Q23 (21)% (4) 7 (7) 2 307 -w1 (12) (5) (15) (2) 3 29 13 1 (4) 2 (42) JPMORGAN CHASE & Co. 4Q22 33 % 12 24 24 16 18 29 21 2 11 21 36 16 37 6 20 29 18 32 17 5 41 50 18 $ $ $ $ $ $ 2023 1,210 (e) $ 763 1,521 3,494 12,052 (e) 15,546 1,970 (e) 2,760 (e) 2,618 5,378 8,198 2,055 6,143 3,393 FULL YEAR 5,993 (e) $ 8,250 1,167 136 15,546 7,371 (f) 4,777 3,308 (f) 90 15,546 20 % 35 $ $ $ $ $ 2022 1,243 685 1,408 3,336 8,197 11,533 1,268 2,296 2,423 4,719 5,546 1,333 4,213 4,524 5,691 1,064 254 11,533 2,978 5,134 3,918 2,461 20 11,533 16 % 41 2023 Change 2022 (3)% 11 % 8 5 47 35 55 20 8 14 48 54 46 32 45 10 (46) 35 14 44 22 34 350 35 (a) Total net revenue included tax-equivalent adjustments from income tax credits related to equity investments in designated community development entities and in entities established for rehabilitation of historic properties, as well as tax-exempt income related to municipal financing activities of $108 million, $103 million, $89 million, $82 million and $100 million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $382 million and $322 million for the full year 2023 and 2022, respectively. (b) In the third quarter of 2023, certain revenue from CIB Markets products was reclassified from payments to investment banking. Prior-period amounts have been revised to conform with the current presentation. (c) Includes CB's share of revenue from Investment Banking and Markets' products sold to CB clients through the CIB which is reported in All other income. (d) Includes gross revenues earned by the Firm that are subject to a revenue sharing arrangement between CB and the CIB for Investment Banking and Markets' products sold to CB clients. This includes revenues related to fixed income and equity markets products. Refer to page 61 of the Firm's 2022 Form 10-K for discussion of revenue sharing. (e) Includes First Republic. Refer to page 30 for additional information. (f) Middle Market Banking and Commercial Real Estate Banking included $75 million and $284 million, respectively, for the three months ended December 31, 2023, $93 million and $273 million, respectively, for the three months ended September 30, 2023, $48 million and $130 million, respectively, for the three months ended June 30, 2023, and $216 million and $687 million, respectively, for the full year 2023, associated with First Republic. Page 19#21JPMORGAN CHASE & CO. COMMERCIAL BANKING FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except employee and ratio data) SELECTED BALANCE SHEET DATA (period-end) Total assets Loans: Loans retained Loans held-for-sale and loans at fair value Total loans Equity Period-end loans by client segment Middle Market Banking (a) Corporate Client Banking Commercial Real Estate Banking Other Total loans (a) SELECTED BALANCE SHEET DATA (average) Total assets Loans: Loans retained Loans held-for-sale and loans at fair value Total loans Deposits Equity Average loans by client segment Middle Market Banking Corporate Client Banking Commercial Real Estate Banking Other Total loans Employees CREDIT DATA AND QUALITY STATISTICS Net charge-offs/(recoveries) Nonperforming assets Nonaccrual loans: Nonaccrual loans retained (b) Nonaccrual loans held-for-sale and loans at fair value Total nonaccrual loans Assets acquired in loan satisfactions Total nonperforming assets Allowance for credit losses: Allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses Net charge-off/(recovery) rate (c) Allowance for loan losses to period-end loans retained Allowance for loan losses to nonaccrual loans retained (b) Nonaccrual loans to period-end total loans $ $ $ $ $ $ $ $ 4Q23 300,325 277,663 (d) 545 278,208 30,000 302,429 78,043 (e) $ 56,132 143,507 (e) 526 278,208 280,009 (f) 977 280,986 267,788 (g) 30,000 126 809 809 54 863 78,601 (h) $ 58,480 143,456 (h) 449 280,986 17,867 5,005 801 5,806 (1) $ 300,367 $ 0.18 % 1.80 619 0.29 $ $ $ $ 3Q23 $ 281,389 (d) 915 282,304 30,000 301,964 78,955 (e) $ 59,645 143,413 (e) 291 282,304 281,602 (f) 1,378 282,980 262,148 30,000 53 889 24 913 78,774 (h) $ 60,816 142,955 (h) 435 282,980 17,281 47 960 $ 4,721 845 5,566 (i) $ 0.07 % 1.68 531 0.32 $ $ $ $ 2Q23 QUARTERLY TRENDS 305,280 282,124 (d) 1,540 283,664 30,000 290,875 79,885 (e) $ 60,511 142,897 (e) 371 283,664 270,091 (f) 726 270,817 275,196 29,505 100 1,068 1,068 1,068 $ 4,729 801 5,530 (i) $ 78,037 (h) $ 59,159 133,394 (h) 227 270,817 15,991 0.15 % 1.68 443 0.38 $ $ $ 1Q23 $ 261,181 238,752 1,538 240,290 28,500 73,329 58,256 108,582 123 240,290 255,468 73,030 56,581 108,143 209 $ 237,963 15,026 236,808 1,155 237,963 265,943 28,500 37 918 918 918 3,566 966 4,532 0.06 1.49 388 0.38 % $ 257,106 $ $ $ $ $ 4Q22 $ 233,879 707 234,586 25,000 72,625 53,840 107,999 122 234,586 253,007 234,654 673 235,327 278,876 25,000 72,109 55,137 107,831 250 235,327 14,687 35 766 766 766 3,324 830 4,154 0.06 % 1.42 434 0.33 4Q23 Change 3Q23 - % (1) (40) (1) T € 81 (1) | | (1) (29) (1) | E | (1) 138 (9) NM (11) 15 (10) 6 (5) JPMORGAN CHASE & CO. FULL YEAR 4Q22 17% 19 (23) 19 20 7 4 33 331 19 20 19 45 19 (4) 20 9 6 33 80 19 22 260 6 I 6 NM 13 51 (3) 40 $ $ $ $ $ $ 2023 300,325 $ 277,663 (d) 545 278,208 30,000 287,851 78,043 (e) $ 56,132 143,507 (e) 526 278,208 267,285 (f) 1,060 268,345 267,758 (g) 29,507 $ 268,345 17,867 316 809 $ 77,130 (h) $ 58,770 132,114 (h) 331 809 54 863 $ 5,005 801 5,806 (i) $ 0.12 % 1.80 619 0.29 $ $ $ $ $ 2022 257,106 233,879 707 234,586 25,000 72,625 53,840 107,999 122 234,586 243,108 222,388 1,350 223,738 294,180 25,000 67,830 50,281 105,459 168 223,738 14,687 84 766 766 766 3,324 830 4,154 0.04 % 1.42 434 0.33 2023 Change 2022 17% 19 (23) 19 20 7 4 33 331 19 18 20 (21) 20 (9) 18 14 17 25 97 20 22 276 6 6 NM 13 51 (3) 40 (a) As of December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, total loans included $36 million, $48 million, $65 million, $88 million, and $132 million of loans, respectively, under the PPP, of which $32 million, $43 million, $60 million, $80 million, and $123 million, were in Middle Market Banking, respectively. Refer to pages 108-109 of the Firm's 2022 Form 10-K for further information on the PPP. (b) Allowance for loan losses of $156 million, $164 million, $205 million, $170 million and $153 million was held against nonaccrual loans retained at December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively. (c) Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate. (d) Includes First Republic. Refer to page 30 for additional information. (e) As of December 31, 2023, included $5.9 billion and $32.6 billion for Middle Market Banking and Commercial Real Estate Banking, respectively, as of September 30, 2023, included $6.1 billion and $32.7 billion, respectively, and as of June 30, 2023, included $6.2 billion and $33.3 billion, respectively associated with First Republic. (f) Average loans retained associated with First Republic were $39.0 billion, $39.0 billion, and $28.6 billion for the three months ended December 31, 2023, September 30, 2023, and June 30, 2023 respectively, and $26.8 billion for the full year 2023. (g) In the fourth quarter of 2023, certain deposits associated with First Republic were transferred from CCB. Refer to page 30 for additional information. (h) Average Middle Market Banking and Commercial Real Estate Banking loans associated with First Republic were $6.3 billion and $32.7 billion respectively, for the three months ended December 31, 2023, $6.2 billion and $32.8 billion, respectively, for the three months ended September 30, 2023, $4.4 billion and $24.2 billion, respectively, for the three months ended June 30, 2023, and $4.2 billion and $22.5 billion, respectively, for the full year 2023. (i) As of December 31, 2023, September 30, 2023, and June 30, 2023, included $729 million, $630 million, and $608 million allowance, respectively, for First Republic. Page 20#22JPMORGAN CHASE & CO. ASSET & WEALTH MANAGEMENT FINANCIAL HIGHLIGHTS (in millions, except ratio and employee data) INCOME STATEMENT REVENUE Asset management fees Commissions and other fees All other income Noninterest revenue Net interest income TOTAL NET REVENUE Provision for credit losses NONINTEREST EXPENSE Compensation expense Noncompensation expense TOTAL NONINTEREST EXPENSE Income before income tax expense Income tax expense NET INCOME REVENUE BY LINE OF BUSINESS Asset Management Global Private Bank TOTAL NET REVENUE FINANCIAL RATIOS ROE Overhead ratio Pretax margin ratio: Asset Management Global Private Bank Asset & Wealth Management Employees Number of Global Private Bank client advisors $ $ $ $ 4Q23 3,137 153 148 (a) 3,438 1,657 (a) 5,095 (1) (a) 1,857 1,531 3,388 (a) 1,708 491 1,217 2,403 2,692 (a) 5,095 28 % 66 29 37 34 28,485 3,515 (a) Includes First Republic. Refer to page 30 for additional information. (b) Prior-period amounts have been revised to conform with the current presentation. $ $ $ FA $ 3Q23 2,975 (b) $ 190 (b) 266 (a) 3,431 1,574 5,005 (13) (a) 1,777 1,361 3,138 1,880 463 1,417 2,164 2,841 (a) 5,005 32 % 63 29 44 38 28,083 3,443 $ $ 2Q23 2,932 (b) $ 194 (b) 232 (a) 3,358 1,585 (a) 4,943 QUARTERLY TRENDS 145 (a) 1,746 1,417 3,163 1,635 409 1,226 2,128 2,815 (a) 4,943 29 % 64 27 37 33 26,931 3,214 $ $ $ 1Q23 2,782 (b) $ 160 (b) 391 3,333 1,451 4,784 28 1,735 1,356 3,091 1,665 298 1,367 2,434 2,350 4,784 34 % 65 37 33 35 26,773 3,189 $ $ 4Q22 2,825 151 82 3,058 1,530 4,588 32 1,649 1,373 3,022 1,534 400 1,134 2,158 2,430 4,588 26 % 66 27 39 33 26,041 3,137 4Q23 Change 3Q23 5% (19) (44) 5 2 92 CÔNG (14) 11 (5) 2 1 2 JPMORGAN CHASE & Co. 4Q22 11% 1 80 12 8 11 NM 13 12 12 11 23 7 11 11 11 9 12 $ $ $ $ 2023 11,826 697 1,037 (a) 13,560 6,267 (a) 19,827 159 (a) 7,115 5,665 12,780 6,888 1,661 5,227 9,129 10,698 (a) 19,827 31 % 64 31 38 35 28,485 3,515 $ $ 11,510 (b) 662 (b) 335 $ FULL YEAR $ 2022 12,507 5,241 17,748 128 6,336 5,493 11,829 5,791 1,426 4,365 8,818 8,930 17,748 25 % 67 30 35 33 26,041 3,137 2023 Change 2022 3% 5 210 8 20 12 24 12 3 8 19 16 20 4 20 12 9 12 Page 21#23JPMORGAN CHASE & CO. ASSET & WEALTH MANAGEMENT FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio data) SELECTED BALANCE SHEET DATA (period-end) Total assets Loans Deposits Equity SELECTED BALANCE SHEET DATA (average) Total assets Loans Deposits Equity CREDIT DATA AND QUALITY STATISTICS Net charge-offs/(recoveries) Nonaccrual loans Allowance for credit losses: Allowance for loan losses Allowance for lending-related commitments Total allowance for credit losses Net charge-off/(recovery) rate Allowance for loan losses to period-end loans Allowance for loan losses to nonaccrual loans Nonaccrual loans to period-end loans $ 245,512 $ 4Q23 $ 227,929 (a) 233,232 (a) 17,000 247,202 227,042 (b) 226,640 (a) 17,000 12 650 633 28 661 (c) 0.02 % 0.28 97 0.29 3Q23 $249,866 228,114 (a) 215,152 17,000 $ 245,616 223,760 201,975 17,000 $ 1 621 642 32 674 0.28 103 0.27 (b) (c) % 2Q23 $ 247,118 222,493 199,763 17,000 $ 238,987 219,469 211,872 16,670 $ 2 615 QUARTERLY TRENDS 0.29 106 0.28 (a) (b) 649 39 688 (c) % 1Q23 $ 232,516 211,140 225,831 16,000 $ 228,823 211,469 224,354 16,000 $ (2) 477 526 19 545 0.25 110 0.23 % 4Q22 $ 232,037 214,006 233,130 17,000 $ 230,149 214,150 236,965 17,000 $ (2) 459 494 20 514 0.23 108 0.21 % 4Q23 Change 3Q23 (2)% 8 T 1 1 12 NM 5 (1) (13) (2) JPMORGAN CHASE & CO. 4Q22 6% 7 7 6 (4) NM 42 28 40 29 2023 $ 245,512 227,929 233,232 17,000 $ 240,222 $ 220,487 (b) 216,178 (a) 16,671 13 650 633 28 661 (c) % 0.01 0.28 97 0.29 (a) Includes First Republic. In the fourth quarter of 2023, certain deposits associated with First Republic were transferred from CCB. Refer to page 30 for additional information. (b) Included $11.7 billion, $13.0 billion, and $9.7 billion for the three months ended December 31, 2023, September 30, 2023, and June 30, 2023, respectively, and $8.7 billion for the full year 2023, associated with First Republic. (c) At December 31, 2023, September 30, 2023, and June 30, 2023, included $128 million, $115 million, and $146 million allowance, respectively, associated with First Republic. FULL YEAR $ 232,037 (a) 214,006 (a) 233,130 17,000 2022 $ 232,438 215,582 261,489 17,000 $ (7) 459 494 20 514 0.23 108 0.21 % 2023 Change 2022 6% 7 3 2 (17) (2) NM 42 28 40 29 Page 22#24JPMORGAN CHASE & CO. ASSET & WEALTH MANAGEMENT FINANCIAL HIGHLIGHTS, CONTINUED (in billions) CLIENT ASSETS Assets by asset class Liquidity Fixed income Equity Multi-asset Alternatives TOTAL ASSETS UNDER MANAGEMENT Custody/brokerage/administration/deposits TOTAL CLIENT ASSETS (a) Assets by client segment Private Banking Global Institutional Global Funds TOTAL ASSETS UNDER MANAGEMENT Private Banking Global Institutional Global Funds TOTAL CLIENT ASSETS (a) Assets under management rollforward Beginning balance Net asset flows: Liquidity Fixed income Equity Multi-asset Alternatives Market/performance/other impacts Ending balance Client assets rollforward Beginning balance Net asset flows Market/performance/other impacts Ending balance $ $ 3,422 1,590 $ 5,012 $ $ $ $ $ $ Dec 31, 2023 $ 926 751 868 680 197 974 1,488 960 3,422 2,452 1,594 966 5,012 3,186 49 6 12 (1) (5) 175 3,422 4,644 94 274 5,012 $ $ $ $ $ $ $ $ $ $ Sep 30, 2023 867 707 780 626 206 3,186 1,458 4,644 888 1,424 874 3,186 2,249 1,514 881 4,644 3,188 40 1 16 1 2 (62) 3,186 4,558 132 (46) 4,644 $ $ $ $ $ $ $ $ Jun 30, 2023 826 718 792 647 205 3,188 1,370 4,558 881 1,423 884 3,188 2,170 1,497 891 4,558 3,006 60 37 20 3 1 61 3,188 4,347 112 99 $ 4,558 $ $ $ $ $ $ $ $ $ $ Mar 31, 2023 761 682 733 627 203 3,006 1,341 4,347 826 1,347 833 3,006 2,090 1,417 840 4,347 2,766 93 26 22 (2) 1 100 3,006 4,048 152 147 4,347 (a) Includes CCB client investment assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager. $ $ $ $ $ $ $ $ $ $ Dec 31, 2022 654 638 670 603 201 2,766 1,282 4,048 751 1,252 763 2,766 1,964 1,314 770 4,048 2,616 33 8 9 (7) 107 2,766 3,823 70 155 4,048 Dec 31, 2023 Change Sep 30, 2023 7% 6 11 9 (4) 7 9 8 10 4 10 7 9 5 10 8 JPMORGAN CHASE & CO. Dec 31, 2022 42 % 18 30 13 (2) 24 24 24 30 19 26 24 25 21 25 24 $ $ $ $ $ $ $ 2023 $ 926 751 868 680 197 3,422 1,590 5,012 974 1,488 960 3,422 2,452 1,594 966 5,012 2,766 242 70 70 1 (1) 274 3,422 4,048 490 474 $ 5,012 FULL YEAR $ $ $ $ $ $ $ $ $ $ 2022 654 638 670 603 201 2,766 1,282 4,048 751 1,252 763 2,766 1,964 1,314 770 4,048 3,113 (55) 13 35 (9) 8 (339) 2,766 4,295 49 (296) 4,048 2023 Change 2022 * 42 % 18 30 13 (2) 24 24 24 30 19 26 24 25 21 25 24 Page 23#25JPMORGAN CHASE & CO. CORPORATE FINANCIAL HIGHLIGHTS (in millions, except employee data) INCOME STATEMENT REVENUE Principal transactions Investment securities losses All other income Noninterest revenue Net interest income TOTAL NET REVENUE (a) Provision for credit losses NONINTEREST EXPENSE Income/(loss) before income tax expense/(benefit) Income tax expense/(benefit) NET INCOME/(LOSS) MEMO: TOTAL NET REVENUE Treasury and Chief Investment Office ("CIO") Other Corporate TOTAL NET REVENUE NET INCOME/(LOSS) Treasury and CIO Other Corporate TOTAL NET INCOME/(LOSS) SELECTED BALANCE SHEET DATA (period-end) Total assets Loans Deposits (b) Employees SUPPLEMENTAL INFORMATION TREASURY and CIO Investment securities losses Available-for-sale securities (average) Held-to-maturity securities (average) (c) Investment securities portfolio (average) Available-for-sale securities (period-end) Held-to-maturity securities (period-end) (c) Investment securities portfolio, net of allowance for credit losses (period-end) (d) $ $ $ $ $ $ 4Q23 $ (21) (743) 96 (e) (668) 2,445 (e) 1,777 (2) 3,593 (e)(f) (1,814) (939) (g) (875) $ 1,348,437 1,924 21,826 2,065 (288) (e) 1,777 1,396 (2,271) (e) (875) 47,530 (743) 199,581 377,709 577,290 199,354 369,848 (h) $ $ $ $ $ 3Q23 $ 128 (669) 116 (425) 1,983 1,558 46 696 816 4 812 $ 1,275,673 2,099 20,363 (e) (e) 1,640 (82) (e) 1,558 47,280 (e) 1,129 (317) (e) 812 (669) 201,875 402,816 604,691 195,200 (h) 388,261 $ $ $ $ $ 2Q23 $ QUARTERLY TRENDS 113 (900) 2,767 (e) 1,980 1,738 3,718 (243) 1,152 2,809 169 (i) 2,640 1,261 2,457 3,718 $ 1,263,595 2,172 21,083 (e) 45,235 (e) 1,057 1,583 (e) 2,640 (e) (900) 198,620 410,594 609,214 201,211 (h) 408,941 $ $ $ $ $ $ 1Q23 $ 82 (868) 31 (755) 1,740 985 370 160 455 211 244 1,106 $ 1,307,989 2,267 19,458 (121) 985 624 (380) 244 44,743 (868) 202,776 417,350 620,126 195,228 412,827 $ $ $ $ $ 4Q22 $ (7) (874) 766 (j) (115) 1,298 1,183 (14) 339 858 277 581 603 580 1,183 $ 1,328,219 2,181 14,203 531 50 581 44,196 (874) 195,788 427,802 623,590 203,981 425,305 629,286 4Q23 Change 3Q23 NM (11) (17) (57) 23 14 (h) At December 31, 2023, September 30, 2023 and June 30, 2023, included AFS securities of $24.2 billion, $22.9 billion and $25.8 billion, respectively, associated with First Republic. (i) Income taxes associated with the First Republic acquisition are reflected in the estimated bargain purchase gain. (i) Included a $914 million gain on sale of Visa B shares. NM 416 NM NM NM 26 (251) 14 24 NM NM 6 (8) 7 1 (11) (6) (5) 2 (5) 4Q22 JPMORGAN CHASE & CO. (200)% 15% (87) (481) 88 50 86 NM NM NM NM 242 NM 50 163 NM NM 2 (12) 54 8 15 2 (12) (7) (2) (13) (f) Included a $2.9 billion special assessment from the FDIC on certain banks to recover losses to the DIF arising from the protection of uninsured depositors resulting from bank resolutions in 2023. (g) Included an income tax benefit of $463 million and $428 million for the three months and full year ended December 31, 2023, respectively, related to the finalization of certain income tax regulations. $ $ $ 2023 $ 302 (3,180) 3,010 (e) 132 7,906 8,038 171 5,601 (e)(f) 2,266 (555) (g)(i) 2,821 6,072 1,966 8,038 $ 1,348,437 1,924 21,826 (e) 4,206 (1,385) (e) 2,821 47,530 (3,180) 200,708 402,010 $ 602,718 199,354 369,848 569,202 (e) (h) FULL YEAR $ $ $ $ $ $ 2022 $ (227) (2,380) 809 (1,798) 1,878 80 22 1,034 (976) (233) (743) $ 1,328,219 2,181 14,203 (439) 519 80 (197) (546) (743) 44,196 (2,380) 239,924 412,180 652,104 203,981 425,305 629,286 2023 Change 2022 NM (34)% 272 % NM 321 NM NM 442 NM (138) NM NM 279 NM NM (154) NM 2 (12) 54 569,202 $ 583,461 $ 610,152 608,055 (2) (10) (10) (a) Included tax-equivalent adjustments, predominantly driven by tax-exempt income from municipal bonds, of $53 million, $57 million, $45 million, $56 million and $58 million for the three months ended December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, respectively, and $211 million and $235 million for the full year 2023 and 2022, respectively. (b) Predominantly relates to the Firm's international consumer initiatives. (c) In January 2023, upon adoption of the Derivatives and Hedging: Fair Value Hedging - Portfolio Layer Method accounting guidance, the Firm elected to transfer $7.1 billion of HTM securities to AFS. The transferred securities were placed in a closed AFS securities portfolio as part of a portfolio layer method hedge. During 2022, the Firm transferred $78.3 billion of investment securities from AFS to HTM for capital management purposes. At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, the estimated fair value of the HTM securities portfolio was $342.8 billion, $348.7 billion, $375.3 billion, $382.0 billion and $388.6 billion, respectively. Refer to Note 1 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 for additional information on the portfolio layer method. (d) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, the allowance for credit losses on investment securities was $94 million, $87 million, $74 million, $61 million and $67 million, respectively. (e) Includes First Republic. Refer to page 30 for additional information. 8 (34) (16) (2) (8) (2) (13) Page 24#26JPMORGAN CHASE & CO. CREDIT-RELATED INFORMATION (in millions) CREDIT EXPOSURE Consumer, excluding credit card loans (a) Loans retained Loans held-for-sale and loans at fair value Total consumer, excluding credit card loans Credit card loans Loans retained Total credit card loans Total consumer loans Wholesale loans (b) Loans retained Loans held-for-sale and loans at fair value Total wholesale loans Total loans Derivative receivables Receivables from customers (c) Total credit-related assets Lending-related commitments Consumer, excluding credit card Credit card (d) Wholesale Total lending-related commitments Total credit exposure Memo: Total by category Consumer exposure (e) Wholesale exposure (f) Total credit exposure Dec 31, 2023 $ 397,275 12,818 410,093 211,123 211,123 621,216 672,472 30,018 702,490 1,323,706 54,864 47,625 1,426,195 45,403 915,658 536,786 1,497,847 $ 2,924,042 (g) $ 1,582,277 1,341,765 $ 2,924,042 Sep 30, 2023 $ 397,054 11,715 408,769 196,935 196,935 605,704 671,952 32,403 704,355 1,310,059 67,070 43,376 1,420,505 48,313 898,903 531,568 1,478,784 $ $ 1,552,920 1,346,369 $ 2,899,289 Jun 30, 2023 396, 195 12,009 408,204 191,348 191,348 599,552 668,145 32,372 700,517 1,300,069 64,217 42,741 1,407,027 50,846 881,485 541,089 1,473,420 2,899,289 (g) $2,880,447 (g) JPMORGAN CHASE & CO. Dec 31, 2023 Change $1,531,883 1,348,564 $ 2,880,447 Mar 31, 2023 $ 300,447 10,986 311,433 180,079 180,079 491,512 604,324 33,060 637,384 1,128,896 59,274 43,943 1,232,113 37,568 861,218 484,539 1,383,325 2,615,438 $ 1,390,298 1,225,140 $ 2,615,438 $ Dec 31, 2022 300,753 10,622 311,375 185,175 185,175 496,550 603,670 35,427 639,097 1,135,647 70,880 49,257 1,255,784 33,518 821,284 471,980 (h) 1,326,782 $ 2,582,566 $1,351,352 1,231,214 $ 2,582,566 Sep 30, 2023 - % 9 773 (7) 1 (18) 10 (6) 2 1 1 1 2 1 Dec 31, 2022 32% 21 32 14 14 25 11 (15) 10 17 (23) (3) 14 35 11 14 13 13 17 9 13 (a) Includes scored loans held in CCB, scored mortgage and home equity loans held in AWM, and scored mortgage loans held in CIB and Corporate. (b) Includes loans held in CIB, CB, AWM, Corporate as well as risk-rated loans held in CCB, including business banking and J.P. Morgan Wealth Management loans held in Banking & Wealth Management, and auto dealer loans for which the wholesale methodology is applied when determining the allowance for loan losses. (c) Receivables from customers reflect held-for-investment margin loans to brokerage clients in CIB, CCB and AWM; these are reported within accrued interest and accounts receivable on the Consolidated balance sheets. (d) Also includes commercial card lending-related commitments primarily in CB and CIB. (e) Represents total consumer loans and lending-related commitments. (f) Represents total wholesale loans, lending-related commitments, derivative receivables, and receivables from customers. (g) As of December 31, 2023, September 30, 2023 and June 30, 2023 includes credit exposure associated with First Republic consisting of $101.6 billion, $103.3 billion and $104.6 billion in the Consumer credit portfolio, respectively, and $90.6 billion, $95.2 billion and $98.2 billion in the Wholesale credit portfolio, respectively. (h) Prior-period amount has been revised to conform with the current presentation. Page 25#27JPMORGAN CHASE & CO. CREDIT-RELATED INFORMATION, CONTINUED (in millions, except ratio data) NONPERFORMING ASSETS (a) Consumer nonaccrual loans Loans retained Loans held-for-sale and loans at fair value Total consumer nonaccrual loans Wholesale nonaccrual loans Loans retained Loans held-for-sale and loans at fair value Total wholesale nonaccrual loans Total nonaccrual loans (b) Derivative receivables Assets acquired in loan satisfactions Total nonperforming assets Wholesale lending-related commitments (c) Total nonperforming exposure NONACCRUAL LOAN-RELATED RATIOS Total nonaccrual loans to total loans Total consumer, excluding credit card nonaccrual loans to total consumer, excluding credit card loans Total wholesale nonaccrual loans to total wholesale loans $ $ Dec 31, 2023 3,643 560 4,203 2,346 368 2,714 6,917 364 316 7,597 464 8,061 0.52 % 1.02 0.39 $ Sep 30, 2023 3,766 408 4,174 2,907 439 3,346 7,520 293 318 8,131 387 $ 8,518 0.57 % 1.02 0.48 $ Jun 30, 2023 3,784 481 4,265 2,593 415 3,008 7,273 286 279 7,838 332 $ 8,170 0.56% 1.04 0.43 JPMORGAN CHASE & CO. $ Mar 31, 2023 3,843 452 4,295 2,211 389 2,600 6,895 291 232 7,418 401 $ 7,819 0.61 % 1.38 0.41 $ $ Dec 31, 2022 3,874 451 4,325 1,963 432 2,395 6,720 296 231 7,247 455 7,702 0.59 % 1.39 0.37 Dec 31, 2023 Change Sep 30, 2023 (3)% 37 1 (19) (16) (19) (8) 24 (1) (7) 20 (5) Dec 31, 2022 (6)% 24 (3) 20 (15) 13 3 23 37 5 2 5 (a) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022, nonperforming assets excluded mortgage loans 90 or more days past due and insured by U.S. government agencies of $182 million, $188 million, $215 million, $263 million and $302 million, respectively. These amounts have been excluded based upon the government guarantee. In addition, the Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance. Refer to Note 12 of the Firm's 2022 Form 10-K for additional information on the Firm's credit card nonaccrual and charge-off policies. (b) Generally excludes loans that were under payment deferral or other assistance, including amendments or waivers of financial covenants, in response to the COVID-19 pandemic. (c) Represents commitments that are risk rated as nonaccrual. Page 26#28JPMORGAN CHASE & CO. CREDIT-RELATED INFORMATION, CONTINUED (in millions, except ratio data) SUMMARY OF CHANGES IN THE ALLOWANCES ALLOWANCE FOR LOAN LOSSES Beginning balance Net charge-offs: Gross charge-offs Gross recoveries collected Net charge-offs Provision for loan losses Other Ending balance ALLOWANCE FOR LENDING-RELATED COMMITMENTS Beginning balance Provision for lending-related commitments Other Ending balance ALLOWANCE FOR INVESTMENT SECURITIES Total allowance for credit losses (a) NET CHARGE-OFF/(RECOVERY) RATES Consumer retained, excluding credit card loans Credit card retained loans Total consumer retained loans Wholesale retained loans Total retained loans Memo: Average retained loans Consumer retained, excluding credit card loans Credit card retained loans Total average retained consumer loans Wholesale retained loans Total average retained loans $ 21,946 $ 4Q23 $ 2,557 (393) 2,164 2,625 13 22,420 $ 2,075 (100) (1) $ 1,974 128 $ 24,522 0.21% 2.79 1.08 0.31 0.68 $397,819 202,652 600,471 669,899 $1,270,370 3Q23 $ 21,980 1,869 $ (372) 1,497 1,479 (16) $ 21,946 $ 2,186 (107) (4) $ 2,075 117 $ 24,138 0.17% 2.49 0.93 0.06 0.47 $ 396,788 195,232 592,020 667,825 $1,259,845 $ 20,053 $ $ $ 2Q23 $ 1,776 (365) 1,411 3,317 21 21,980 104 2,370 (188) (b) 4 2,186 $ 24,270 QUARTERLY TRENDS 0.14% 2.41 0.91 0.10 0.47 $ 359,543 187,027 546,570 647,474 $1,194,044 (b) $ 1Q23 $ 19,139 (c) $ $ 1,451 1,137 2,047 4 $ 20,053 (314) $ 2,382 (13) 1 2,370 90 $ 22,513 0.18% 2.07 0.89 0.06 0.43 $ 300,585 180,451 481,036 601,401 $1,082,437 $ $ $ 4Q22 18,185 1,210 (323) 887 2,426 2 19,726 2,551 (169) 2,382 96 $ 22,204 0.16% 1.62 0.70 0.03 0.33 $ 301,093 177,026 478,119 599,817 $1,077,936 4Q23 Change 3Q23 - % 37 (6) 45 77 NM 2 (5) 7 75 (5) 9 2 4 1 1 JPMORGAN CHASE & Co. 4Q22 21% 111 (22) 144 8 NM 14 (19) 41 NM (17) 33 10 32 14 26 12 18 $ 19,139 $ 2023 6,209 9,468 22 $ 22,420 $ $ 7,653 (1,444) 2,382 (408) (b) 1,974 128 $ 24,522 0.17% 2.45 0.96 0.14 0.52 (b) $364,061 191,412 555,473 646,875 $1,202,348 FULL YEAR $ $ $ $ $ $ 2022 16,386 4,326 (1,473) 2,853 6,189 4 19,726 2,261 120 1 2,382 96 22,204 0.09 % 1.47 0.58 0.03 0.27 $299,409 163,335 462,744 582,021 $1,044,765 2023 Change 2022 17% 77 2 118 53 450 14 5 NM NM (17) 33 10 22 17 20 11 15 (a) At December 31, 2023, September 30, 2023, June 30, 2023, March 31, 2023 and December 31, 2022 excludes an allowance for credit losses associated with certain accounts receivable in CIB of $243 million, $17 million, $18 million, $20 million and $21 million, respectively, and at March 31, 2023, excludes an allowance for credit losses associated with certain other assets in Corporate of $241 million. (b) Included $1.2 billion of provision for credit losses associated with the First Republic acquisition. (c) On January 1, 2023, the Firm adopted the Financial Instruments - Credit Losses: Troubled Debt Restructurings accounting guidance. The adoption of this guidance eliminated the existing accounting and disclosure requirements for trouble debt restructurings ("TDRs"), including the requirement to measure the allowance using a discounted cash flow ("DCF") methodology. The Firm elected to apply its portfolio-based allowance approach to substantially all its non-collateral dependent modified loans to troubled borrowers, resulting in a net decrease in the beginning balance of the allowance for loan losses of $587 million, predominantly driven by residential real estate and credit card. Refer to Note 1 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 for further information. Page 27#29JPMORGAN CHASE & CO. CREDIT-RELATED INFORMATION, CONTINUED (in millions, except ratio data) ALLOWANCE COMPONENTS AND RATIOS ALLOWANCE FOR LOAN LOSSES Consumer, excluding credit card Asset-specific (a) Portfolio-based Total consumer, excluding credit card Credit card Asset-specific (a) Portfolio-based Total credit card Total consumer Wholesale Asset-specific (a) Portfolio-based Total wholesale Total allowance for loan losses Allowance for lending-related commitments Allowance for investment securities Total allowance for credit losses CREDIT RATIOS Consumer, excluding credit card allowance, to total consumer, excluding credit card retained loans Credit card allowance to total credit card retained loans Wholesale allowance to total wholesale retained loans Wholesale allowance to total wholesale retained loans, excluding trade finance and conduits (b) Total allowance to total retained loans Consumer, excluding credit card allowance, to consumer, excluding credit card retained nonaccrual loans (c) Total allowance, excluding credit card allowance, to retained nonaccrual loans, excluding credit card nonaccrual loans (c) Wholesale allowance to wholesale retained nonaccrual loans Total allowance to total retained nonaccrual loans $ Dec 31, 2023 (876) 2,732 1,856 12,450 12,450 14,306 392 7,722 8,114 22,420 1,974 128 24,522 0.47 % 5.90 1.21 1.31 1.75 51 166 346 374 (d) (d) $ Sep 30, 2023 (942) 2,796 1,854 11,900 11,900 13,754 732 7,460 8,192 21,946 2,075 117 $ 24,138 0.47 % 6.04 1.22 1.33 1.73 49 151 282 329 (d) (d) $ Jun 30, 2023 (971) 3,019 2,048 11,600 11,600 13,648 0.52 % 6.06 1.25 478 7,854 8,332 (d) 21,980 2,186 104 $ 24,270 1.36 1.75 54 JPMORGAN CHASE & CO. 163 321 345 (d) Mar 31, 2023 $ (1,030) 2,696 1,666 $ 11,400 11,400 13,066 437 6,550 6,987 20,053 2,370 90 22,513 0.55 % 6.33 1.16 1.26 1.85 43 143 316 331 $ $ Dec 31, 2022 (624) 2,664 2,040 223 10,977 11,200 13,240 467 6,019 6,486 19,726 2,382 96 22,204 0.68 % 6.05 1.07 1.17 1.81 53 146 330 338 (e) (e) Dec 31, 2023 Change Sep 30, 2023 7% (2) 5 5 4 (46) 4 (1) 2 (5) 9 2 Dec 31, 2022 (40)% 3 (9) NM 13 11 8 (16) 28 25 14 (17) 33 10 (a) On January 1, 2023, the Firm adopted the Financial Instruments - Credit Losses: Troubled Debt Restructurings accounting guidance under which it elected to change from an asset-specific allowance approach to its non-DCF, portfolio-based allowance approach for modified loans to troubled borrowers for all portfolios except collateral-dependent loans and nonaccrual risk-rated loans, for which the asset-specific allowance approach will continue to apply. (b) Management uses allowance for loan losses to period-end loans retained, excluding CIB's trade finance and conduits, a non-GAAP financial measure, to provide a more meaningful assessment of the wholesale allowance coverage ratio. (c) Refer to footnote (a) on page 26 for information on the Firm's nonaccrual policy for credit card loans. (d) At December 31, 2023, September 30, 2023 and June 30, 2023, included $396 million, $396 million and $377 million of Consumer, respectively, and $800 million, $667 million and $695 million of Wholesale, respectively, associated with First Republic. (e) Prior-period amounts have been revised to conform with the current presentation. Page 28#30JPMORGAN CHASE & CO. NON-GAAP FINANCIAL MEASURES JPMORGAN CHASE & CO. Non-GAAP Financial Measures (a) 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 an FTE 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. (b) Pre-provision profit is a non-GAAP financial measure which represents total net revenue less total noninterest expense. The Firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses. (c) TCE, ROTCE, and 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 MSRs), 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. (d) The ratio of the wholesale and CIB's allowance for loan losses to period-end loans retained, excluding trade finance and conduits, is calculated excluding loans accounted for at fair value, loans held-for-sale, CIB's trade finance loans and consolidated Firm-administered multi-seller conduits, as well as their related allowances, to provide a more meaningful assessment of the respective allowance coverage ratio. (e) 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), as shown below. 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, apart from any 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 these measures provide investors and analysts with alternative measures to analyze the revenue trends of the Firm. For additional information on Markets revenue, refer to page 70 of the Firm's 2022 Form 10-K. QUARTERLY TRENDS (in millions, except rates) Net interest income - reported Fully taxable-equivalent adjustments Net interest income - managed basis (a) Less: Markets net interest income Net interest income excluding Markets (a) Average interest-earning assets Less: Average Markets interest-earning assets Average interest-earning assets excluding Markets Net yield on average interest-earning assets - managed basis Net yield on average Markets interest-earning assets Net yield on average interest-earning assets excluding Markets Noninterest revenue - reported Fully taxable-equivalent adjustments Noninterest revenue - managed basis Less: Markets noninterest revenue Noninterest revenue excluding Markets Memo: Markets total net revenue 4Q23 $ 24,051 126 $ 24,177 615 $ 23,562 $3,408,395 985,997 $2,422,398 $ 2.81 % 0.25 3.86 $ 14,523 1,243 $ 15,766 5,196 10,570 $ 5,811 3Q23 $ 22,726 130 $ 22,856 (317) $ 23,173 $3,331,728 970,789 $2,360,939 $ 2.72 % (0.13) 3.89 $ 17,148 682 $ 17,830 6,898 $ 10,932 6,581 (a) Interest includes the effect of related hedges. Taxable-equivalent amounts are used where applicable. 2Q23 $ 21,779 104 $ 21,883 (487) $ 22,370 $3,343,780 1,003,877 $2,339,903 $ 2.62 % (0.19) 3.83 $19,528 990 $ 20,518 7,505 $ 13,013 7,018 $ 20,711 120 20,831 (105) $ 20,936 1Q23 $ $3,216,757 982,572 $2,234,185 2.63 % (0.04) 3.80 $ 17,638 867 $ 18,505 8,487 $ 10,018 $ 8,382 $ 20,192 121 $20,313 315 $ 19,998 $3,265,071 939,420 $2,325,651 4Q22 $ $ 14,355 898 $ $ 2.47 % 0.13 3.41 15,253 5,355 9,898 5,670 4Q23 Change 3Q23 6% (3) 6 NM 2 2 2 3 (15) 82 (12) (25) (3) (12) 4Q22 19 % 4 19 95 18 4 5 4 1 38 3 (3) 7 2 2023 $ 89,267 480 $ 89,747 (294) $ 90,041 $3,325,708 985,777 $2,339,931 2.70 % (0.03) 3.85 $ 68,837 3,782 $ 72,619 28,086 $ 44,533 $ 27,792 FULL YEAR 2022 $ 66,710 434 $ 67,144 4,789 $ 62,355 $3,349,079 953, 195 $2,395,884 2.00 % 0.50 2.60 $ 61,985 3,148 $ 65,133 24,195 $ 40,938 $ 28,984 2023 Change 2022 34% 11 34 NM 44 Page 29 (1) 3 (2) 11 20 11 16 9 (4)#31JPMORGAN CHASE & CO. SUPPLEMENTAL INFORMATION ON FIRST REPUBLIC (in millions) SELECTED INCOME STATEMENT DATA REVENUE Asset management fees All other income Noninterest revenue Net interest income TOTAL NET REVENUE Provision for credit losses Noninterest expense NET INCOME SELECTED BALANCE SHEET DATA (period- end) Loans Deposits SELECTED INCOME STATEMENT DATA REVENUE Asset management fees All other income Noninterest revenue Net interest income TOTAL NET REVENUE Provision for credit losses Noninterest expense NET INCOME $ CCB SELECTED BALANCE SHEET DATA (period-end) Loans Deposits 138 193 331 760 1,091 15 599 362 THREE MONTHS ENDED DECEMBER 31, 2023 AWM CORP $ 94,671 42,710 (a) $ CB 2/12/2 304 361 97 27 180 $ 38,495 6,163 $ T 非非 126 126 306 432 13 33 292 $ 11,436 12,098 $ 19 (b) 19 (23) (4) 231 (187) Total 138 395 **** 10 533 1,347 1,880 125 890 647 CCB $ THREE MONTHS ENDED SEPTEMBER 30, 2023 CB AWM $ $ 142 $ 191 333 1,022 1,355 (2) $ 144,602 (c) $ 94,333 60,971 (c) 63,945 583 589 CCB 387 489 876 $ 38,729 2,401 3,277 144 144 222 366 421 1,219 1,244 26 18 245 94,671 42,710 (a) $ $ $ 203 203 233 436 (31) 17 342 $ 12,026 CB $ $ CORP 81 (b) 81 (3) 78 240 (99) 201 201 704 905 731 45 98 $ 38,495 6,163 Total $ 142 619 761 1,474 2,235 $ (7) 858 1,077 JPMORGAN CHASE & CO. THREE MONTHS ENDED JUNE 30, 2023 CB AWM CORP $ FULL YEAR ENDED DECEMBER 31, 2023 CCB $ 145,088 (c) $ 94,721 63,945 68,351 AWM 107 $ 105 212 619 831 408 37 293 503 503 668 1,171 128 50 753 11,436 12,098 $ T $ 178 178 $ 39,500 608 (327) $ 174 174 129 303 CORP 146 119 $ 13,696 2,807 $ 2,862 (b) 2,862 (55) 1,033 2,015 $ $ 2,762 (b) 2,762 (29) 2,733 562 2,301 $ Total Total 107 3,041 3,148 897 4,045 $147,917 (c) 68,351 1,162 599 2,386 Page 30 387 4,055 4,442 3,718 8,160 1,280 2,347 4,110 144,602 (c) 60,971 (c) All references to "excludes First Republic", "includes First Republic" or "associated with First Republic" refer to the effects of the First Republic acquisition, as well as subsequent related business and activities, as applicable. (a) In the fourth quarter of 2023, CCB transferred certain deposits associated with First Republic to AWM, CB and CIB. (b) On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank from the FDIC, resulting in a preliminary estimated bargain purchase gain of $2.7 billion recorded in other income. The bargain purchase gain generally represents the excess of the estimated fair value of the net assets acquired over the purchase price and is subject to change for up to one year from the acquisition date, as permitted by U.S. GAAP, and as the settlement with the FDIC is finalized. For the three months ended December 31, 2023 and September 30, 2023, measurement period adjustments of $37 million and $100 million, respectively, were recorded, resulting in an estimated bargain purchase gain of $2.8 billion for the full year 2023. (c) Excludes $1.9 billion of loans and $508 million of deposits in CIB associated with First Republic.