#14Q22 Financial Results January 13, 2023 JPMORGAN CHASE & Co.#2Agenda 1 2 3 4Q22 and FY2022 Financial Results Financial Outlook Notes Page 1 10 14 JPMORGAN CHASE & Co.#34Q22 Financial highlights ROTCE¹ 20% Income statement Balance sheet Capital distributed CET1 capital ratios² Std. 13.2% | Adv. 13.5% Total Loss-Absorbing Capacity² $486B 4Q22 net income of $11.0B and EPS of $3.57 Managed revenue of $35.6B5 - Included a gain on the sale of Visa B shares of $914mm and net investment securities losses of $874mm ■ Expense of $19.0B and managed overhead ratio of 53% 5 Loans: average loans of $1.1T up 6% YoY and up 1% QOQ ■ Deposits: average deposits of $2.4T down 4% YoY and down 3% QOQ ■ CET1 capital of $219B² 2 Standardized CET1 capital ratio of 13.2% 2; Advanced CET1 capital ratio of 13.5% ² ■ Common dividend of $3.0B or $1.00 per share Net payout LTM of 37% 6 Significant items ($mm, excluding EPS) Gain on the sale of Visa B shares in Corporate Net investment securities losses in Corporate Std. RWA³ $1.7T Cash and marketable securities4 $1.4T Average loans $1.1T 1 See note 3 on slide 14 2 Represents the estimated Basel III common equity Tier 1 ("CET1") capital and ratio and Total Loss-Absorbing Capacity for the current period. See note 1 on slide 15 3 Standardized risk-weighted assets ("RWA"). Estimated for the current period. See note 1 on slide 15 4 Cash and marketable securities represents HQLA and unencumbered marketable securities. Estimated for the current period. See note 2 on slide 15 5 See note 1 on slide 14 1 6 Last twelve months ("LTM"). Net of stock issued to employees Pretax $914 ($874) Net income $695 ($664) EPS $0.23 ($0.22) JPMORGAN CHASE & Co.#44Q22 Financial results ¹ $B, except per share data Net interest income Noninterest revenue 1 Managed revenue ¹ Expense Credit costs Net income Net income applicable to common stockholders EPS - diluted ROE² ROTCE 2,3 Overhead ratio - managed ¹,² Memo: NII excluding Markets 4 NIR excluding Markets 4 Markets revenue 1 Managed revenue ¹ $B Net charge-offs Reserve build/(release) Credit costs Adjusted expense 5 Adjusted overhead ratio Note: Totals may not sum due to rounding 1 See note 1 on slide 14 2 Actual numbers for all periods, not over/(under) 3 See note 3 on slide 14 4 See note 2 on slide 14 5 See note 4 on slide 14 6 Reflects fully taxable-equivalent ("FTE") adjustments of $1.0B in 4Q22 1,2,5 4Q22 3Q22 4Q21 $0.7 $0.6 $0.9 1.4 0.8 (1.8) $2.3 $1.5 ($1.3) 4Q22 Tax rate Effective rate: 16.8% Managed rate: 22.8% 1,6 4Q22 CCB CIB CB AWM ROE O/H ratio 35% 50% 12% 61% 22% 37% 26% 66% 2 4Q22 $20.3 15.3 35.6 19.0 2.3 $11.0 $10.6 $3.57 16% 20 53 $20.0 9.9 5.7 35.6 $19.0 53% $ 0/(U) 3Q22 $2.7 (0.6) 2.1 (0.2) 0.8 $1.3 $1.3 $0.45 15% 18 57 $3.1 0.1 (1.1) 2.1 ($0.1) 57% 4Q21 $6.6 (1.4) 5.2 1.1 3.6 $0.6 $0.7 $0.24 16% 19 59 $8.4 (3.5) 0.4 5.2 $1.2 58% JPMORGAN CHASE & Co.#5FY22 Financial results ¹ $B, except per share data Net interest income Noninterest revenue 1 Managed revenue ¹ Expense Credit costs Net income Net income applicable to common stockholders EPS - diluted ROE² ROTCE 2,3 Overhead ratio - managed ¹,² Memo: NII excluding Markets 4 NIR excluding Markets 4 Markets revenue 1 Managed revenue ¹ $B Net charge-offs Reserve build/(release) Credit costs Adjusted expense 5 Adjusted overhead ratio Note: Totals may not sum due to rounding 1 See note 1 on slide 14 2 Actual numbers for all periods, not over/(under) 3 See note 3 on slide 14 4 See note 2 on slide 14 5 See note 4 on slide 14 6 Reflects fully taxable-equivalent ("FTE") adjustments of $3.6B in 2022 1,2,5 FY2022 FY2021 $2.9 $2.9 3.5 (12.1) $6.4 ($9.3) FY22 Tax rate Effective rate: 18.4% Managed rate: 24.3% 1,6 FY2022 CCB CIB CB AWM ROE O/H ratio 29% 57% 14% 57% 16% 41% 25% 67% 3 FY2022 $67.1 65.1 132.3 76.1 6.4 $37.7 $35.9 $12.09 14% 18 58 $62.4 40.9 29.0 132.3 $75.9 57% FY2021 $52.7 72.6 125.3 71.3 (9.3) $48.3 $46.5 $15.36 19% 23 57 $44.5 53.4 27.4 125.3 $70.9 57% $ 0/(U) FY2021 $14.4 (7.4) 7.0 4.8 15.6 ($10.7) ($10.6) ($3.27) $17.9 (12.5) 1.6 7.0 $5.0 JPMORGAN CHASE & Co.#6Fortress balance sheet $B, except per share data Risk-based capital metrics¹ CET1 capital CET1 capital ratio - Standardized CET1 capital ratio - Advanced Basel III Standardized RW A Leverage-based capital metric² Firm SLR Liquidity metrics ³ Firm LCR Bank LCR Total excess HQLA HQLA and unencumbered marketable securities Balance sheet metrics Total assets (EOP) Deposits (average) Tangible book value per share4 4Q22 $219 13.2% 13.5 $1,658 5 Reflects Net Income Applicable to Common Equity 6 Excludes AOCI on cash flow hedges and DVA related to structured notes 7 Primarily CET1 capital deductions 5.6% 112% 151 $437 1,427 $3,666 2,380 73.12 Note: Totals may not sum due to rounding 1 Estimated for the current period. See note 1 on slide 15 2 Estimated for the current period. Represents the supplementary leverage ratio ("SLR") 3Q22 $210 $214 12.5% 13.1% 13.0 13.8 $1,678 $1,639 5.3% 113% 165 $531 1,487 4Q21 $3,774 2,445 69.90 5.4% 111% 178 $629 1,652 744 2,468 71.53 Standardized CET1 ratio (%) ¹ 12.5% 3Q22 63 bps 1,678 Net income5 3Q22 (18 bps) Common dividend 19 13 bps Standardized risk-weighted assets ($B)¹ Primarily Credit Card Loans AOCI The Firm exceeded its 1Q23 CET1 target one quarter earlier than expected 3 Estimated for the current period. Liquidity Coverage Ratio ("LCR") represents the average LCR for the Firm and JPMorgan Chase Bank, N.A. ("Bank"). See note 2 on slide 15 4 See note 3 on slide 14 4 16 bps (12) Market Risk RWA (3 bps) (28) Other7 13.2% Credit Risk ex. Loans 4Q22 1,658 4Q22 JPMORGAN CHASE & Co.#7Consumer & Community Banking¹ Selected income statement data ($mm) Revenue Banking & Wealth Management² Home Lending Card Services & Auto³ Expense Credit costs Net charge-offs (NCOs) Change in allowance Net income 4 Key drivers / statistics ($B)5 Equity ROE Overhead ratio Average loans Average deposits Active mobile customers (mm)6 Debit & credit card sales volume 4Q22 $15,843 9,632 584 5,627 7,981 1,845 845 1,000 $4,542 4Q22 $50.0 35% 50 $448.5 1,142.5 49.7 $411.1 $ 0/(U) 3Q22 $1,512 1,622 (336) 226 (66) 1,316 166 1,150 $208 3Q22 $50.0 33% 56 4Q21 $3,568 3,460 (500) 608 227 2,905 330 2,575 $395 4Q21 $50.0 32% 63 $442.7 $437.7 1,174.2 1,114.3 45.5 48.9 $395.8 $376.2 Average loans up 2% YoY and 1% QOQ ■ Ex-PPP, average loans of $448.0B, up 4% YoY and 1% QOQ Average deposits up 3% YoY and down 3% QOQ Active mobile customers up 9% YoY Debit & credit card sales volume up 9% YoY ■ Client investment assets down 10% YoY and up 5% QOQ 1 See note 1 on slide 14 2 In the fourth quarter of 2022, Consumer & Business Banking was renamed Banking & Wealth Management 3 In the fourth quarter of 2022, Card & Auto was renamed Card Services & Auto 4 See note 3 on slide 15 For additional footnotes see slide 16. 5 CCB CIB CB Financial performance Net income of $4.5B, up 10% YoY ■ Revenue of $15.8B, up 29% YoY ■ Expense of $8.0B, up 3% YoY, driven by higher investments in the business and structural expense, largely offset by lower volume - and revenue-related expense Banking & Wealth Management² Business Banking average loans Business Banking loan originations Client investment assets (EOP) Deposit margin Home Lending Average loans Loan originations⁹ ■ Credit costs of $1.8B ■NCOs of $845mm, up $330mm YoY, largely driven by Card Services ■ Reserve build of $800mm in Card Services and $200mm in Home Lending, predominantly driven by a modest deterioration in the Firm's macroeconomic outlook, and loan growth in Card Services, partially offset by a reduction in pandemic-related uncertainty Key drivers / statistics ($B) - detail by business 4Q22 Third-party mortgage loans serviced (EOP) Net charge-off/(recovery) rate Card Services & Auto³ Card Services average loans Auto average loans and leased assets Auto loan and lease originations Card Services net charge-off rate Card Services net revenue rate Card Services sales volume¹ $20.5 1.1 647.1 2.48% $174.5 6.7 584.3 (0.08)% AWM Corp. $177.0 80.0 7.5 1.62% 10.06 $284.8 3Q22 $21.3 1.0 615.0 1.83% $176.9 12.1 586.7 (0.14)% $168.1 80.4 7.5 1.40% 9.92 $272.3 4Q21 $28.9 0.9 718.1 1.22% $183.3 42.2 519.210 (0.17)% $148.5 86.2 8.5 1.28% 9.61 $254.1 JPMORGAN CHASE & Co.#8Corporate & Investment Bank1 Selected income statement data ($mm) Revenue Investment Banking revenue Payments Lending Total Banking Fixed Income Markets Equity Markets Securities Services Credit Adjustments & Other Total Markets & Securities Services Expense Credit costs Net income² Key drivers / statistics ($B)³ Equity ROE Overhead ratio Comp/revenue IB fees ($mm) Average loans 4 Average client deposits Merchant processing volume ($B)5 Assets under custody ($T) 6 ALL/EOP loans ex-conduits and trade 6 Net charge-off/(recovery) rate Average VaR ($mm) 1 See note 1 on slide 14 2 See note 3 on slide 15 For additional footnotes see slide 16 4Q22 $10,548 1,389 2,070 323 3,782 3,739 1,931 1,159 (63) 6,766 6,426 141 $3,328 4Q22 $103.0 12% 61 29 $1,467 225.8 649.7 583.2 28.6 1.67% 0.02 $60 $ 0/(U) 3Q22 ($1,327) (324) 81 0 (243) (730) (371) 49 (32) (1,084) (192) (372) ($204) 3Q22 $103.0 13% 56 28 $1,762 221.6 669.2 545.4 27.2 1.49% 0.04 $53 4Q21 ($986) (1,817) 269 60 (1,488) 405 (23) 95 25 502 599 267 ($1,215) 4Q21 $83.0 21% 51 20 $3,502 206.0 717.5 514.9 33.2 1.12% 0.06 $37 6 CCB CIB CB AWM Corp. Financial performance ■ Net income of $3.3B, down 27% YoY; revenue of $10.5B, down 9% YOY Banking revenue ■ IB revenue of $1.4B, down 57% YoY IB fees down 58% YoY, reflecting lower fees across products Payments revenue of $2.1B, up 15% YoY Excluding the net impact of equity investments, up 56%, predominantly driven by higher rates, partially offset by lower deposit balances ■ Markets revenue of $5.7B, up 7% YoY ■ Lending revenue of $323mm, up 23% YoY, largely driven by higher net interest income on higher loan balances, partially offset by mark-to-market losses on hedges of accrual loans ■ Markets & Securities Services revenue Fixed Income Markets revenue of $3.7B, up 12% YOY, predominantly driven by higher revenue in Rates and Currencies & Emerging Markets, partially offset by lower revenue in Securitized Products - Equity Markets revenue of $1.9B, relatively flat against a strong fourth quarter in the prior year Securities Services revenue of $1.2B, up 9% YoY, predominantly driven by higher rates, largely offset by lower deposit balances and market levels ■ Expense of $6.4B, up 10% YoY, predominantly driven by higher revenue-related compensation, including timing impacts, and structural expense, partially offset by lower legal expense ■ Credit costs of $141mm, reflecting a net reserve build, driven by a modest deterioration in the Firm's macroeconomic outlook, partially offset by net portfolio activity JPMORGAN CHASE & Co.#9Commercial Banking¹ Selected income statement data ($mm) Revenue Middle Market Banking Corporate Client Banking Commercial Real Estate Banking Other Expense Credit costs Net income² Key drivers / statistics ($B)³ Equity ROE² Overhead ratio Gross IB revenue ($mm) Average loans4 Average client deposits Allowance for loan losses Nonaccrual loans 5 6 Net charge-off/(recovery) rate ALL/loans6 1 See note 1 on slide 14 2 See note 3 on slide 15 For additional footnotes see slide 16 4Q22 $3,404 1,619 1,109 666 10 1,254 284 $1,423 4Q22 $25.0 22% 37 $700 235.3 278.9 3.3 0.8 0.06% 1.42 $ 0/(U) 3Q22 $356 253 57 42 74 (334) $477 3Q22 $25.0 14% 39 $761 229.1 281.3 3.1 0.8 0.07% 1.32 4Q21 $792 557 181 52 2 195 373 $189 4Q21 $24.0 19% 41 $1,456 205.6 323.8 2.2 0.7 0.02% 1.08 7 CIB CB AWM Corp. Financial performance ■ Net income of $1.4B, up 15% YoY ■ Revenue of $3.4B, up 30% YoY, driven by higher deposit margins, partially offset by lower investment banking revenue and deposit- related fees Gross IB revenue of $700mm, down 52% YoY ■ Expense of $1.3B, up 18% YoY, predominantly driven by higher volume- and revenue-related expense and structural expense ■ Credit costs of $284mm, reflecting a net reserve build, driven by a modest deterioration in the Firm's macroeconomic outlook ■ Average loans of $235B, up 14% YoY and up 3% QoQ ■ C&17 up 19% YoY and up 4% QOQ CRE7 up 10% YoY and up 2% QOQ ■ Average deposits of $279B, down 14% YoY and 1% QoQ, primarily reflecting attrition of non-operating deposits JPMORGAN CHASE & Co.#10Asset & Wealth Management¹ Selected income statement data ($mm) Revenue Asset Management Global Private Bank Expense Credit costs Net income² Key drivers / statistics ($B)³ Equity ROE Pretax margin Assets under management ("AUM") Client assets Average loans Average deposits 1 See note 1 on slide 14 2 See note 3 on slide 15 3 Actual numbers for all periods, not over/(under) 4Q22 $4,588 2,158 2,430 3,022 32 $1,134 4Q22 $17.0 26% 33 $2,766 4,048 214.2 237.0 $ 0/(U) 3Q22 $49 (51) 100 (6) 134 ($85) 3Q22 $17.0 28% 36 $2,616 3,823 216.7 253.0 4Q21 $115 (330) 445 25 68 $9 4Q21 $14.0 31% 34 $3,113 4,295 209.2 264.6 8 CCB CIB CB AWM Corp. Financial performance ■ Net income of $1.1B, up 1% YoY Revenue of $4.6B, up 3% YoY, driven by higher deposit margins on lower balances, predominantly offset by lower management, performance and placement fees linked to this year's market declines, and lower investment valuation gains compared to the prior year ■ Expense of $3.0B, up 1% YoY, reflecting higher investments in the business and structural expense, predominantly offset by lower volume- and revenue-related expense ■AUM of $2.8T and client assets of $4.0T, down 11% and 6% YoY respectively, reflecting lower market levels ■ For the quarter, AUM had long-term net inflows of $10B and liquidity net inflows of $33B ■ Average loans of $214B, up 2% YoY and down 1% QOQ ■ Average deposits of $237B, down 10% YoY and down 6% QOQ JPMORGAN CHASE & Co.#11Corporate¹ Selected income statement data ($mm) Revenue Net interest income Noninterest revenue Expense Credit costs Net income/(loss)² 1 See note 1 on slide 14 2 See note 3 on slide 15 $ 0/(U) 4Q22 3Q22 $1,183 $1,485 $1,728 1,298 506 1,979 111 (115) 979 (251) 339 34 (14) 7 (37) $875 $1,231 $581 4Q21 88 9 CCB CIB CB AWM Corp. Financial performance ■ Revenue was $1.2B, up $1.7B YOY ■ Net interest income was $1.3B, up $2.0B YoY, due to the impact of higher rates ■ Noninterest revenue was a loss of $115mm, down $251mm YoY, and included a gain on the sale of Visa B shares of $914mm offset by net investment securities losses of $874mm ■ Expense: Noninterest expense of $339mm, up $88mm YoY JPMORGAN CHASE & Co.#12Agenda 1 2 3 4Q22 and FY2022 Financial Results Financial Outlook Notes Page 1 10 14 JPMORGAN CHASE & Co.#13We expect -$74B in NII ex. Markets for 2023; deposit reprice dynamics remain uncertain Net interest income ($B) NII ex. Markets ¹ 2.5% 2.0% 1.5% 1.0% 0.5% $67 0.0% 4Q22: $20 3Q22: $17 2Q22: $14 1Q22: $12 2022 Deposit reprice path remains uncertain4 2019 Markets NII 4Q run rate $81 2020 $79 4Q22 annualized Firm wide average cost of deposits (%) 1bp = $250 million of interest cost 2021 2022 Rate / reprice² Deposit reprice and internal migration Assumes two more rate hikes in 2023, followed by two cuts (4.50% FFTUB3 at YE) Balance sheet growth / mix 2023 Modest deposit attrition Loan growth including credit card revolving balances Note: Charts are not to scale; totals may not sum due to rounding 1 See note 2 on slide 14 2 Outlook is based on implied rate curve of January 9, 2023 3 Federal Funds target upper bound (FFTUB) 4 Future reprice trajectory included for illustrative purposes; the size of the range and timing of impact is undetermined 10 Normalization in revolve to continue Total O/S Revolving balances $162 4Q19 $141 4Q20 Card Services average balance ($B) $177 $148 Total NII: $73 4Q21 NII ex. Markets ¹: - $74 2023 outlook 4Q22 Per account balances still below 4Q19 levels JPMORGAN CHASE & Co.#14Our 2023 expense outlook is ~$81B Adjusted expense¹ ($B) Corp. AWM CB CIB CCB $75.9 12 5 27 31 2022 Note: Totals may not sum due to rounding 1 See note 4 on slide 14 ~$81 2023 11 2023 drivers Labor inflation Annualization of 2022 hires 2023 headcount increases Continued investments in the business ■ Technology ■ Bankers, Advisors & Branches ■ Marketing Higher FDIC assessment (~$0.5B) Modest increase in market-dependent volume- and revenue-related expenses Efficiencies JPMORGAN CHASE & Co.#15We expect continued normalization in credit in 2023 2022 net charge-offs were at historically low levels Net charge-offs ($B) Wholesale Consumer Consumer (excl. Card) Wholesale $5.6 0.4 Total Firm 5.2 Net charge-off rates (%) 2019 Card Services 3.10% 2019 0.12% 0.09% 0.60% $2.9 0.2 1 Stylized path, not indicative of quarterly expectations 2.7 2022 2022 1.47% 0.09% 0.03% 0.27% Historical low We project 30+ day delinquencies to normalize by mid-2023... Card Services 30+ day delinquency rates 2.5% 2.0% 1.5% 12 1.0% 0.5% 3.0% ...resulting in normalized NCOs by the end of 2023 Card Services NCO rates 4.0% 2.0% 1.0% 0.0% 4Q19 FY19 3.10% 4Q19 4Q20 FY20 2.93% 4Q21 Card Services NCO rate (quarterly) Card Services NCO rate (annual) 4Q20 FY21 1.94% 4Q21 FY22 1.47% We expect FY2023 Card Services NCO rate of ~2.60% as credit continues to normalize throughout 2023 Pre-pandemic "normal" levels 4Q22 Outlook ¹ 4Q23 Pre-pandemic "normal" levels 4Q22 Outlook ¹ FY23 -2.60% 4Q23 JPMORGAN CHASE & Co.#16Outlook summary¹ Firm wide 1 2 3 Expect FY2023 net interest income of ~$73B, market dependent Expect FY2023 net interest income excluding Markets of ~$74B, market dependent Expect FY2023 adjusted expense of ~$81B, market dependent Expect FY2023 Card Services NCO rate of ~2.60% 1 See notes 1, 2 and 4 on slide 14 13 JPMORGAN CHASE & Co.#17Agenda 1 2 Financial Outlook 3 Notes 4Q22 and FY2022 Financial Results Page 1 10 14 JPMORGAN CHASE & Co.#18Notes on non-GAAP financial measures In addition to analyzing the Firm's results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a "managed" basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the lines of business on a managed basis. The Firm's definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm and each of the reportable business segments on a fully taxable-equivalent basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business. For a reconciliation of the Firm's results from a reported to managed basis, refer to page 7 of the Earnings Release Financial Supplement 1. 2. 3. 4. 5. In addition to reviewing net interest income ("NII") and noninterest revenue ("NIR") on a managed basis, management also reviews these metrics excluding CIB Markets ("Markets", which is composed of Fixed Income Markets and Equity Markets). Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm's lending, investing (including asset-liability management) and deposit-raising activities, 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 a reconciliation of NII and NIR from reported to excluding Markets, refer to page 29 of the Earnings Release Financial Supplement. For additional information on Markets revenue, refer to page 70 of the Firm's 2021 Form 10-K Tangible mon equity ("TCE"), return on tangible common equity ("ROTCE") and tangible book value per share ("TBVPS"), are each non-GAAP financial measures. TCE represents the Firm's common stockholders' equity (i.e., total stockholders' equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of related deferred tax liabilities. For a reconciliation from common stockholders' equity to TCE, refer to page 10 of the Earnings Release Financial Supplement. 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. Book value per share was $90.29, $87.00 and $88.07 at December 31, 2022, September 30, 2022 and December 31, 2021, respectively. TCE, ROTCE and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm's use of equity Adjusted expense and adjusted overhead ratio are each non-GAAP financial measures. Adjusted expense represents noninterest expense excluding Firm wide legal expense of $27mm, $47mm and $137mm for the three months ended December 31, 2022, September 30, 2022 and December 31, 2021, respectively; and $266mm and $426mm for the full year 2022 and 2021, respectively. The adjusted overhead ratio measures the Firm's adjusted expense as a percentage of managed net revenue. Management believes this information helps investors understand the effect of these items on reported results and provides an alternate presentation of the Firm's performance Corporate & Investment Bank ("CIB") calculates the ratio of the allowance for loan losses to end-of-period loans ("ALL/EOP") excluding the impact of consolidated Firm-administered multi-seller conduits and trade finance loans, to provide a more meaningful assessment of CIB's allowance coverage ratio 14 JPMORGAN CHASE & Co.#19Additional notes 1. 2. 3. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. Beginning January 1, 2022, the $2.9B CECL capital benefit recognized as of December 31, 2021, is being phased out at 25% per year over a three-year period. As of December 31, 2022 and September 30, 2022, CET1 capital and Total Loss- Absorbing Capacity reflected the remaining $2.2B CECL benefit. For the period ended December 31, 2021, the impact of the CECL capital transition provisions resulted in an increase to CET1 capital of $2.9B. Refer to Capital Risk Management on pages 45-50 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 and on pages 86-96 of the Firm's 2021 Form 10-K for additional information. Total excess high-quality liquid assets ("HQLA") represent the average eligible unencumbered liquid assets that are in excess of what is required to meet the estimated Firm and Bank total net cash outflows over a prospective 30 calendar-day period of significant stress under the LCR rule. HQLA and unencumbered marketable securities, includes the Firm's average eligible HQLA, other end-of-period HQLA-eligible securities which are included as part of the excess liquidity at the Bank that are not transferable to non-bank affiliates and thus excluded from the Firm's LCR under the LCR rule, and other end-of-period unencumbered marketable securities, such as equity and debt securities. Does not include borrowing capacity at Federal Home Loan Banks and the discount window at the Federal Reserve Bank. Refer to Liquidity Risk Management on pages 51-56 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 and on pages 97-104 of the Firm's 2021 Form 10-K for additional information In the first quarter of 2022, the Firm changed its methodology for allocating income taxes to the LOBS, with no impact to Firmwide net income. Prior period amounts have been revised to conform with the current presentation 15 JPMORGAN CHASE & Co.#20Additional notes on slides 5-7 Slide 5 Consumer & Community Banking - 5. 6. 7. 8. 9. 10. 3. 4. 5. 6. Slide 6 - Corporate & Investment Bank Actual numbers for all periods, not over/(under) Users of all mobile platforms who have logged in within the past 90 days Excludes Commercial Card 3. 4. 5. Includes the impact of loans originated under the PPP. For further information, refer to page 13 of the Earnings Release Financial Supplement Firm wide mortgage origination volume was $8.5B, $15.2B and $48.2B for the three months ended December 31, 2022, September 30, 2022 and December 31, 2021, respectively Prior-period amount has been revised to conform with the current presentation 6. 7. Slide 7 - Commercial Banking Actual numbers for all periods, not over/(under) Client deposits and other third-party liabilities pertain to the Payments and Securities Services businesses Represents total merchant processing volume across CIB, CCB and CB Loans held-for-sale and loans at fair value were excluded when calculating the loan loss coverage ratio and net charge-off/(recovery) rate. ALL/EOP loans as reported was 1.22%, 1.13%, and 0.84% at December 31, 2022, September 30, 2022 and December 31, 2021, respectively. See note 5 on slide 14 Actual numbers for all periods, not over/(under) Includes the impact of loans originated under the PPP. For further information, refer to page 20 of the Earnings Release Financial Supplement At December 31, 2022, September 30, 2022 and December 31, 2021, nonaccrual loans excluded PPP loans 90 or more days past due and insured by the SBA of $18mm, $27mm and $114mm, respectively. These amounts have been excluded based upon the SBA guarantee Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate and loan loss coverage ratio Commercial and Industrial ("C&I") and Commercial Real Estate ("CRE") groupings for CB are generally based on client segments and do not align with regulatory definitions 16 JPMORGAN CHASE & Co.#21Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.'s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.'s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.'s Annual Report on Form 10-K for the year ended December 31, 2021 and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, which have been filed with the Securities and Exchange Commission and are available on JPMorgan Chase & Co.'s website (https://jpmorganchaseco.gcs- web.com/financial-information/sec-filings), and on the Securities and Exchange Commission's website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements. 17 JPMORGAN CHASE & Co.