Forward-looking statements

The Investor Day presentations contain 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, 2024 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025,
which have been filed with the Securities and Exchange Commission and are available on JPMorgan Chase & Co.’s website
(https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview), and on the Securities and Exchange Commission’s website (www.sec.gov).
JPMorgan Chase & Co. does not undertake to update any forward-looking statements.
We have a proven operating model that is supported by a consistent strategic framework

Complete Global Diversified At Scale

Exceptional client franchises Unwavering principles

⚫ Customer centric and easy to do business with ⚫ Fortress balance sheet

⚫ Comprehensive set of products and services ⚫ Risk governance and controls

⚫ Focus on safety and security ⚫ Culture and conduct

⚫ Powerful brands ⚫ Operational resilience

Long-term shareholder value Sustainable business practices

⚫ Continuously investing in the future while ⚫ Investing in and supporting our communities
maintaining expense discipline
⚫ Integrating environmental sustainability into
⚫ Focus on customer experience and innovation business and operating decisions

⚫ Employer of choice for top talent from all ⚫ Serving a diverse customer base
backgrounds
⚫ Promoting sound governance

1
Being complete, global, diversified and at scale enables us to meet clients’ and customers’ needs
across the spectrum and through cycles
OUR DIVERSE BUSINESS MIX PERFORMS THROUGH CYCLES… …AND OUR CLIENTS AND CUSTOMERS BENEFIT FROM A COMPLETE AND AT-SCALE OFFERING

Revenue1 by segment ($B) Consumer Banking Commercial Banking

Reported $181B

$173 Global Corporate Banking

ng
Business
22 Banking i Co
k ECM

m
$118

Ba

m
AWM 14 70
Connected

er
DCM

ty
CIB2,3 49 Commerce
$4.0T $4.0T $5.9T

cia
Fill level

uni
M&A

l&I
72

mer & Comm

Total assets AUM Client assets
CCB2 55 Credit
Corp.4 Card Lending

nvestment B
(direct &
2019 2020 2021 2022 2023 2024
ex. Visa5
Home
84mm $6.4T $10T+ syndicated)
U.S. Consumer Daily payment
Revenue1 by type ($B) Lending consumers payments7 processing8 Payments
$173

u
>90% 317k 100+ Equities

s
30 Auto

a
Co
$118

nk
50 Of Fortune 500 Employees Markets FICC
Markets 21 Wealth companies across 60+ globally
do business with us countries
Management
NIR6 43 Global Research
92
NII6 55 International Securities Services
Consumer Initiatives9 As t.
set g m
2019 2020 2021 2022 2023 2024
Global & Wealth M Asset
ex. Visa5 Management
Private Bank
For footnoted information, refer to slide 19

2
 We have leading client and customer centric franchises…

Market share 2014 2024

U.S. retail deposits1 7.9% +340bps 11.3%
Credit card OS2 2019: 16.4% +260bps
+90bps 17.3%
CCB 10-year total return
Client investment assets3 $213B +3.5x
+5.1x $1.1T > 2x peers10
⚫ #1 retail deposit share in 22 of the top 125 U.S. markets

Investment Banking fees4 8.2% +3.5x

+100bps 9.2%
Markets revenue5 8.7% +3.5x
+270bps 11.4%
CIB Treasury Services revenue6 2015: 4.6% +3.5x
+490bps 9.5%
Securities Services revenue7 9.1% +3.5x
+160bps 10.7%
CCB CIB AWM
⚫ Unrivaled scale, unique end-to-end capabilities

Client assets8
Long-term fund AUM
$2.3T +3.5x
+157% $5.9T
#1 #1 #1
Rated Private
AWM outperforming over 10 years9
82% +300bps
+3.5x 85% Bank in the World15
U.S. retail deposits1
U.S. credit card issuer11 IB fees4 Active flows16
⚫ 21 straight years of net positive total client asset flows
Primary Business Bank12 Markets revenue5
Treasury Services revenue6
For footnoted information, refer to slide 20 Multifamily lender13
Middle Market bookrunner14 3
…which has led to strong absolute and relative performance over the last decade

STRONG TRACK RECORD OF PERFORMANCE AND GROWTH AND THIS YEAR WAS NO EXCEPTION WE REMAIN FOCUSED ON THE FUTURE
TBVPS1 ($) 2024 ex. Visa3

$173B
$97

10% $86 Revenue4 Technology & AI

compound annual 9th consecutive year of growth
growth rate since 2005
2x peers2 $72 $73

$56
$61
$66
52%
$54 Adj. overhead ratio4,5
$51 Growth
$48 -1ppts YoY
$45
$39 $41

$27
$30
$34 $53B
Net Income
$22 $23 Lean organization
+7% YoY
$16 $19

20%
ROTCE1
'05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 Continued excellence

Complete Global Diversified At Scale

For footnoted information, refer to slide 21

4
 Looking ahead, we are well positioned to take advantage of a possibly improved regulatory
environment, while navigating more uncertainty than ever on the geopolitical and economic side
Current direction

Improved? Ongoing Riskier?

Areas of uncertainty

Regulatory uncertainty Geopolitical risks Economic environment

5
We expect ~$90B in NII ex. Markets for 2025, as balance sheet growth partially offsets lower rates

NET INTEREST INCOME EX. MARKETS1 ($B) AVERAGE DEPOSITS ($B)

$92 Firmwide $2,468 $2,380 $2,372 $2,417 $2,430

$1 ~$90

($3)
4Q24: $23

Rates / margins2 Balance sheet growth / mix

◼ 2 rate cuts (4.00% ◼ Card revolve growth BWM5 $1,094 $1,126 $1,078 $1,035 $1,039
FFTUB3 at YE) and modestly higher
3Q24: $23
– Average IORB4 declines deposit balances
~90bps YoY 4Q21 4Q22 4Q23 4Q24 1Q25
– Deposit margin
$89
compression
NON-INTEREST BEARING: ECONOMIC AND REPORTED

2Q24: $23 % of total average deposits

53%
1Q24: $23 47% 45%
42% 41%
Economic view6
30% 29% 28% 26% 24%
2024 2025 outlook Reported view
Increase driven by
Markets NII: $1B lower funding Markets NII: ~$4.5B
costs, largely
Firmwide NII: $93B revenue neutral Firmwide NII: ~$94.5B 4Q21 4Q22 4Q23 4Q24 1Q25

For footnoted information, refer to slide 21

6
Our 2025 expense outlook is unchanged at ~$95B

2025 ADJUSTED EXPENSE1 ($B) 2025 YOY DRIVERS

FDIC SA and
Foundation contribution2
Volume- and revenue-related
~$95
$91.1 2 Auto lease growth
Corp. 2 Capital markets activity
15

AWM 14

Bankers, Advisors and Branches

We continue to invest in further business growth

38
CIB 35

Technology

Investments in products and features

Business and volume growth (public cloud, data centers)

CCB 41
38
Marketing

Drives demand for card products and

strong customer engagement

2024 2025 outlook

For footnoted information, refer to slide 21

7
We continue to invest through the cycle, while simultaneously focusing on extracting efficiencies

SHRINKING EXPENSES IS GOOD, BUT GROWING PROFITS IS BETTER BUT AS OUR HEADCOUNT HAS GROWN…

5-year change in: 5-year PPNR CAGR Employees

Revenue Expense 317K

257K
Business
$54B1 $26B1 JPM 9% support
ex. Visa1
Operations
Tech2
Revenue
producing3
$11B $12B (1%) BAC 2019 2020 2021 2022 2023 2024

…WE SEE OPPORTUNITIES TO DIAL UP OUR FOCUS ON RUNNING

A LEAN ORGANIZATION

⚫ The Firm’s headcount has meaningfully increased over the last five years driven
$6B $11B (3%) C by business and volume growth, geographical expansion and acquisitions
⚫ As the business continues to grow, we have asked our leaders to leverage the
existing footprint to efficiently support the additional growth
⚫ We will always continue to:
⚫ Ensure we are appropriately resourced to protect the safety and soundness of
($4B) ($4B) (0%) WFC the Firm
⚫ Invest in high-certainty areas such as bankers, advisors and branches

⚫ Additionally, our investments in technology and AI help our employees work

more efficiently and absorb further volume growth

For footnoted information, refer to slide 21

8
Our 2025 Firmwide technology expense outlook is ~$18B

2025 TECHNOLOGY EXPENSE ($B) 2025 TECHNOLOGY INVESTMENTS ($B)

~$0.4
~$0.7 ~$18 By strategy
1
$17.0
Corp. 1 2 Products, platforms and features $5.3

AWM 2
Modernize technology and software
⚫ Roll-off of modernization ⚫ Infrastructure
development excellence
investments for data volume growth
center migrations ($0.2) across on-premises
and public cloud Technology lifecycle management $2.7
⚫ Investment into
and inflation +$1.0
products, platforms and 8
CIB 8 features +$0.9 ⚫ Efficiency Protect the Firm and our customers
improvements ($0.6)

Total $8.0

By line of business

CCB $3.2

CCB 7 7
CIB $3.7

AWM $1.0

2024 Investments Structural / volumes 2025 outlook Total $8.0

Totals may not sum due to rounding

9
 Our investments in data & technology are delivering efficiencies and unlocking value from AI

Leveraging our modernized data and Continued expansion of value from Driving at-scale adoption and
technology infrastructure traditional machine learning transformation with GenAI & agents

Products and
Customer
features tailored General productivity
Modern data personalization to the customer
centers

Pricing and
Trading Software engineering
hedging
Cloud
infrastructure
Automation and
Operations
insights Operations

Connecting our
data together Fraud Detecting and
management preventing fraud 40K+ engineers with AI coding assistants

~50%
last year ~65% ~75%
last year ~80% >200,000 users of LLM Suite
Optimizing and
of applications run their of applications run their Credit
accelerating
processing largely in the processing largely on decisioning decisions ~100 GenAI solutions in production
public or private cloud modern infrastructure

10
Our reserves reflect the current level of uncertainty

Consumer Wholesale

ACL ($B) NCO rate (%) CECL day 1

ACL ($B) NCO rate (%)
impact: $5.9B
6.0% 27.5 CECL day 1
24.5 impact: ($1.6B)
23.3
21.6 2.5%
4.0% 17.8 16.5 16.9 10.0 10.0 10.5
14.4 8.1 9.1 8.8
12.3 12.1 13.3 1.5%
6.5
10.5 9.3 9.3 9.5 5.5 5.0 5.6 5.2 5.9 6.1
2.0% 8.6 8.2 4.8 4.7 5.1
4.3
0.5%

0.0% (0.5%)
'09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 1Q25
'25 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 1Q25
'25

SCENARIOS UNDERLYING THE 1Q25 RESERVE LEVELS

8-quarter UER forecasts by CECL scenario (%) MODERATE RECESSION SCENARIO

10.5%

Extreme adverse UER peaks at 6.5% by 2Q26

Our current reserve
8.5% assumes a weighted Illustrative reserve build:

< $3B
average peak UER
of 5.8% in 1Q261 Scenario
6.5% 5.8%
Relative adverse Fed cuts rates to 2% by 3Q26
Weighted average
4.1% 4.4%
4.5% Central (as of 1Q25)
Relative upside Peak to trough GDP decline of 1.7% Sensitive to the path of key
Extreme upside
MEVs and our evaluation of
2.5%
Q0 Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8
scenario weights

For footnoted information, refer to slide 21

11
The impact from tariffs to our wholesale C&I portfolio will depend on industry and company-specific
dynamics, as well as how much of the cost can be passed through to the consumer
1Q25 Wholesale
C&I reserves1

Utilities
Bubble
size: 1Q25
$5B
Pre-tariff operating margins

Oil & Gas reserves

Consumer
Transportation & Retail
Industrials
TMT
Healthcare
Automotive
Chemicals
Metals & & Plastics
Mining

Potential impact to margins from tariffs

We performed analysis across Smaller revenue clients are Reserve impact will depend on the level of
various scenarios more vulnerable to margin compression pass-through of costs to consumers

For footnoted information, refer to slide 21

12
Given our current level of excess capital, we are well positioned to protect and grow the franchise
under a range of circumstances

STANDARDIZED CET11 EXCESS ($B)

Macroeconomic & Regulatory environment

Prepared for uncertainty
B3E NPR2
released in $280
$276
July 2023
REVENUE3

$162B $173B
$251 Grow our businesses $132B
57
59 Take advantage of both organic and
Reported CET1 $219 inorganic strategic opportunities
2022 2023 2024
60 ex. Visa4

Excess 21
DIVIDENDS PER SHARE
$1.40
Dividends $1.05
$1.25
$1.00
Attractive yield
Regulatory Sustainability in variety of environments
requirement, 4Q22 4Q23 4Q24 1Q25
incl. reg. buffers
NET BUYBACKS
Quarterly $7.1B
Buybacks averages
$4.2B
Support ongoing shareholders, $1.9B
Visa5

4Q22 4Q23 4Q24 1Q25 price dependent $0.3B

2022 2023 2024 1Q25

For footnoted information, refer to slide 22

13
 We still believe a holistic review of the capital and liquidity regulatory frameworks is needed
THE OPTIMAL REGULATORY FRAMEWORK SHOULD BE… OVERLAP IN CURRENT CAPITAL AND LIQUIDITY REQUIREMENTS1

Coherent Transparent Durable Risk Systemic

Sensitivity Risk
Avoids duplication Balanced Functions effectively
throughout the cycle
Eliminates gold-plating Understandable at public level SCB GSIB
Basel III
RWA ILST
…AND SHOULD THOUGHTFULLY INTEGRATE THE FOLLOWING FEATURES… (Std / Adv) Recovery &
Resolution
TLAC
Risk Systemic Resolvability
Liquidity (RWA)
sensitivity risk
Discount
NSFR TLAC
Buffer Simple
usability backstops window (leverage)
usage LCR

…WHILE RECOGNIZING THE FUNDAMENTAL REALITY OF RISK MITIGATION

SLR / eSLR

Risk can never be …but complexity can …and eventually drive

Collins Floor
fully eliminated… always increase… its own risks
Systemic risk

Backstop Measures

Rule complexity

It is critical to balance the toll of regulation with overall safety and soundness in the financial system
For footnoted information, refer to slide 22

14
We are positioned to deliver strong returns across a range of macroeconomic conditions…

VARIOUS RISKS AND UNCERTAINTIES ILLUSTRATIVE ROTCE1 PATH BY SCENARIO

22%

Interest rates and deposit pricing 20%

2

Credit costs 17%

through the
cycle target

Global trade and growth

Capital markets activity

Volatile asset prices

2024 Medium-term
Loan and deposit growth
Scenarios

Non-recessionary Moderate, delayed Moderate, immediate

Geopolitical tensions and Growth assumptions
soft landing
Shallow, early recession
recession recession
Deep, early recession

conflict escalation
Near-term increase, Sharp increase, Near-term increase,
Inflation abating
Sharp increase, abating Persistent
moderately persistent abating

Gradually cut below LT

Persistent inflation Front-end rates 2+ cuts in 2025 3+ cuts in the near-term Higher for longer
rate levels
Cut below LT rate in 2025

All scenarios include key business driver sensitivities and a range of reasonable capital outcomes

…and continue to support our 17% through the cycle target

For footnoted information, refer to slide 22

15
Maximizing long term shareholder value is our priority, and 17% ROTCE is an outcome, not a constraint

17% IS AN EXCEPTIONAL ROTCE1 ALLOCATING CAPITAL TO MAXIMIZE SHAREHOLDER VALUE ≠ MAXIMIZING ROTCE

ROE (%)
2 2
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Capital intense Capital light
>> 30%
JPM 13% 13% 12% 17% 19% 19% 19% 18% 21% 22%
> 30%
BAC
30%
C

WFC 25%

COF
20%
MS 17% target

GS 15%
Bar width = capital
allocated to the business

BARC 10%
Indicative cost of equity
DB
5%
HSBC

UBS 0%

CS
A range of our sub-lines of business

<10% 10-16% ≥17%

For footnoted information, refer to slide 22

16
We remain committed to serving our clients and customers with the full breadth of our offering, while
producing strong returns

Complete 17% Global

ROTCE target
Promotes stronger and deeper Allows us to serve more clients everywhere

~$90B
relationships with customers

2025 NII ex. Markets

2025 NII: ~$94.5B
Diversified At Scale

Supports more stable earnings in any

operating environment
~$95B Offsets margin compression through volume
growth and facilitates efficiencies
2025 adjusted expense

See notes on slide 18 for additional information on ROTCE, NII ex. Markets and adjusted expense

17
Notes on non-GAAP financial measures

1. In addition to analyzing the Firm’s results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis; these Firmwide managed basis results are non-GAAP
financial measures. The Firm also reviews the results of the lines of business on a managed basis. The Firm’s definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes
certain reclassifications to present total net revenue for the Firm as a whole and each of the reportable business segments and Corporate 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 each of the lines of business and Corporate. For a reconciliation of the Firm’s results from a reported to
managed basis for the full years 2022, 2023 and 2024, refer to page 67 of JPMorgan Chase & Co.’s (“JPMorganChase’s”) Annual Report on Form 10-K for the year ended December 31, 2024 (“2024 Form 10-
K”). For all other periods presented, refer to the Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures disclosure in JPMorganChase’s Annual Report on Form 10-K for each
respective year or Quarterly Report on Form 10-Q for respective quarters

2. In addition to reviewing net interest income (“NII”) and noninterest revenue (“NIR”) on a managed basis, management also reviews these metrics excluding Markets, which is composed of Fixed Income Markets
and Equity Markets. Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial
measures. Management reviews these metrics to assess the performance of the Firm’s lending, investing (including asset-liability management) and deposit-raising activities, without the volatility associated with
Markets activities. In addition, management also assesses Markets business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that generate net interest
income may be risk-managed by derivatives that are reflected at fair value in principal transactions revenue. Management believes that disclosure of these measures provides investors and analysts with
alternative measures to analyze the revenue trends of the Firm. For a reconciliation of NII and NIR from reported to excluding Markets for the full year 2024, refer to page 68 of JPMorganChase’s 2024 Form 10-
K. For all other periods presented, refer to the Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures disclosure in JPMorganChase’s Annual Report on Form 10-K for each
respective year or Quarterly Report on Form 10-Q for respective quarters

3. Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share (“TBVPS”), are each non-GAAP financial measures. TCE represents the Firm’s common
stockholders’ equity (i.e., total stockholders’ equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of related deferred tax liabilities. ROTCE
measures the Firm’s net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm’s TCE at period-end divided by common shares at period-end. TCE, ROTCE and
TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm’s use of equity. For a reconciliation from common stockholders’ equity to TCE for the full years 2023 and 2024, refer to
page 69 of JPMorganChase’s 2024 Form 10-K. For all other periods presented, refer to the Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures disclosure in JPMorganChase’s
Annual Report on Form 10-K for each respective year

4. Adjusted expense and adjusted overhead ratio are each non-GAAP financial measures. Adjusted expense represents noninterest expense excluding Firmwide legal expense of $740mm for the full year ended
December 31, 2024. 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
certain items on reported results and provides an alternate presentation of the Firm’s performance

5. Full-year 2024 results included a $7.9B net gain related to Visa shares and a $1.0B donation of Visa shares to pre-fund contributions to the Firm’s Foundation, which were previously disclosed in the second
quarter of 2024. Full-year 2024 revenue, adjusted overhead ratio, net income and ROTCE excluding these significant items are non-GAAP financial measures. Excluding these items resulted in a decrease of
$7.9B to reported revenue from $180.6B to $172.7B, an increase of 2ppts to the adjusted OH ratio from 50% to 52%, a decrease of $5.4B to reported net income from $58.5B to $53.0B and a decrease of 2ppts
to reported ROTCE from 22% to 20%. Management believes these measures provide useful information to investors and analysts in assessing the Firm’s results

18
Notes on slide 2
Slide 2 – Being complete, global, diversified and at scale enables us to meet clients’ and customers’ needs across the spectrum and through cycles
1. Totals may not sum due to rounding. See note 1 on slide 18
2. In the first quarter of 2023, the allocations of revenue and expense to CCB associated with a Merchant Services revenue sharing agreement were discontinued and are now retained in Payments in CIB. Prior-period
amounts have been revised to conform with the current presentation
3. Sum of heritage CB and heritage CIB
4. Corporate revenue of $1B and $10B for 2019 and 2024 ex. Visa, respectively. See note 5 on slide 18
5. See note 5 on slide 18
6. Ex. Markets. See note 2 on slide 18
7. 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
8. Based on regulatory reporting guidelines prescribed by the Federal Reserve for U.S. Title 1 planning purposes; includes internal settlements, global payments to and through third-party processors and banks, and other
internal transfers
9. International Consumer Initiatives is included in Corporate

19
Notes on slide 3
Slide 3 – We have leading client and customer centric franchises…
1. Federal Deposit Insurance Corporation (FDIC) Summary of Deposits survey per S&P Global Market Intelligence applies a $1B deposit cap to Chase and industry branches for market share. While many of our branches
have more than $1B in retail deposits, applying a cap consistently to ourselves and the industry is critical to the integrity of this measurement. Includes all commercial banks, savings banks and savings institutions as
defined by the FDIC. Deposit market share and rankings are calculated with historical institutional ownership for each year stated
2. OS share reflects Ascend OS data
3. Certain wealth management clients were realigned from Asset & Wealth Management (AWM) to Consumer & Community Banking (CCB) in 4Q20. 2014 amounts were not revised in connection with this realignment
4. Dealogic as of April 1, 2025, excludes impact of UBS/Credit Suisse merger prior to the year of the acquisition (2023)
5. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Markets
6. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase internal business
structure, footprint and revenue. Ranks are based on Coalition Index Banks for Treasury Services
7. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Securities Services. Securities
Services exclude Corporate Trust, Escrow Services, Clearing & Settlement
8. In the fourth quarter of 2020, the Firm realigned certain wealth management clients from AWM to CCB. Prior-period amounts have been revised to conform with the current presentation
9. Percentage of active mutual fund and active exchange-traded funds (ETF) assets under management (AUM) in funds ranked in the 1st or 2nd quartile (one, three and five years): All quartile rankings, the assigned peer
categories and the asset values used to derive these rankings are sourced from the fund rating providers. Quartile rankings are based on the net-of-fee absolute return of each fund. Where applicable, the fund rating
providers redenominate asset values into U.S. dollars. The percentage of AUM is based on fund performance and associated peer rankings at the share class level for U.S.-domiciled funds, at a primary share class
level to represent the quartile ranking for U.K., Luxembourg and Hong Kong SAR funds, and at the fund level for all other funds. The performance data may have been different if all share classes had been included.
Past performance is not indicative of future results. “Primary share class” means the C share class for European funds and ACC share class for Hong Kong SAR and Taiwan funds. If these share classes are not
available, the oldest share class is used as the primary share class. Due to a methodology change effective September 30, 2023, prior results include all long-term mutual fund assets and exclude active ETF assets.
10. Peers include Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo
11. Based on 2024 sales volume and loans outstanding disclosures by peers (AXP, BAC, COF, C and DFS) and JPMorganChase estimates. Sales volume excludes private label and Commercial Card. AXP reflects the
U.S. Consumer segment and JPMorganChase estimates for AXP’s U.S. small business sales. Loans outstanding exclude private label, Citi Retail Cards and Commercial Card
12. Barlow Research Associates, Primary Bank Market Share Database as of 4Q24. Rolling eight-quarter average of small businesses with revenue of more than $100,000 and less than $25mm
13. S&P Global Market Intelligence as of December 31, 2024
14. LSEG - U.S. Overall Middle Market Bookrunner, 2024
15. Global Finance magazine
16. Public filings, company websites. Morningstar

20
Notes on slides 4-12
Slide 4 – …which has led to strong absolute and relative performance over the last decade
1. See note 3 on slide 18
2. Peers include Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo
3. See note 5 on slide 18
4. See note 1 on slide 18
5. See note 4 on slide 18

Slide 6 – We expect ~$90B in NII ex. Markets for 2025, as balance sheet growth partially offsets lower rates
1. Totals may not sum due to rounding. See notes 1 and 2 on slide 18
2. Outlook is based on implied rate curve as of May 13, 2025
3. Federal Funds target upper bound (“FFTUB”)
4. Interest on reserve balances (“IORB”)
5. Banking & Wealth Management (“BWM”) in CCB
6. Excludes structured notes and balances of non-interest bearing deposits where the account holder receives earnings credits. Includes certain interest bearing checking and savings deposit products

Slide 7 – Our 2025 expense outlook is unchanged at ~$95B

1. Totals may not sum due to rounding. See note 4 on slide 18
2. $725mm increase to the FDIC special assessment in 1Q24 and $1.0B donation of Visa shares to pre-fund contributions to the Firm’s Foundation in 2Q24

Slide 8 – We continue to invest through the cycle, while simultaneously focusing on extracting efficiencies
1. See note 5 on slide 18
2. Includes tech adjacent
3. Includes front office support

Slide 11 – Our reserves reflect the current level of uncertainty

1. As of March 31, 2025

Slide 12 – The impact from tariffs to our wholesale C&I portfolio will depend on industry and company-specific dynamics, as well as how much of the cost can be passed through to the consumer
1. Commercial and Industrial (“C&I”) is defined based on client’s primary business activity comprising the industries presented in the chart, and differs from the Commercial & Industrial loan class definition presented in the
10Q/K, which is based on the loan’s collateral, purpose, and type of borrower. Reserves include allowance for loan losses and allowance for lending-related commitments

21
Notes on slides 13-16
Slide 13 – Given our current level of excess capital, we are well positioned to protect and grow the franchise under a range of circumstances
1. Totals may not sum due to rounding. As of January 1, 2025, the benefit from the Current Expected Credit Losses (“CECL”) capital transition provision had been fully phased-out. Prior period CET1 data reflects CECL
capital transition provisions
2. Basel III Endgame (“B3E”), Notice of Proposed Rulemaking (“NPR”)
3. See note 1 on slide 18
4. See note 5 on slide 18
5. Share repurchases in 2Q24 and 3Q24 reflected the deployment of the net benefit from the sale of Visa shares. See note 5 on slide 18

Slide 14 – We still believe a holistic review of the capital and liquidity regulatory frameworks is needed
1. Risk-Weighted Assets (“RWA”), Stress Capital Buffer (“SCB”), Internal Liquidity Stress Test (“ILST”), Global Systemically Important Bank (“GSIB”), Net Stable Funding Ratio (“NSFR”), Liquidity Coverage Ratio (“LCR”),
Total Loss-Absorbing Capacity (“TLAC”), Supplementary Leverage Ratio (“SLR”), Enhanced Supplementary Leverage Ratio (“eSLR”)

Slide 15 – We are positioned to deliver strong returns across a range of macroeconomic conditions…
1. See note 3 on slide 18. ROTCE ranges indicated are estimates
2. See note 5 on slide 18

Slide 16 – Maximizing long term shareholder value is our priority, and 17% ROTCE is an outcome, not a constraint
1. See note 3 on slide 18
2. 2020 and 2021 exclude reserves for JPM, BAC, C, WFC, COF, MS and GS

22
CCB operates from a position of strength

Complete National Diversified At Scale

Exceptional businesses to Industry-leading digital Natural hedges across Unmatched

serve customer needs & physical channels our businesses position and capacity

#1 market position in Consumer ~5,000 branches across the 48 Strong through-the-cycle returns #1 U.S. banking brand in consumer
and Business Banking & Card1 contiguous states for the business consideration5

Support for customers in life’s key ~68% of U.S. population covered Home Lending & Auto businesses More than 91mm customers6 across
moments in Home Lending & Auto by our branch network3 provide diversification benefit segments with deep relationships

Continuing to grow in Connected #1 Digital banking platform in Expanding capital-light revenue Consistent track record of investing
Commerce & Wealth Management2 the U.S.4 through our growth businesses at scale

For footnoted information, refer to slide 47 3

Increased strategic momentum over the last 5 years

GROWING, ENGAGING AND DEEPENING CUSTOMER RELATIONSHIPS EXTENDING OUR LEADERSHIP AND SCALING GROWTH BUSINESSES6
(2019-2024) (2019-2024)

Growth Engagement Experience Industry-leading businesses Growth businesses

3% CAGR 6% CAGR Record high +220bps +110bps 2x

TotalCustomers1 Digital Active Customers3 Net Promoter Score5 Retail DepositShare7 Card SalesShare9 Client Investment Assets11
(91mm, +3% YoY) (71mm, +6% YoY) (~65, +5pts) (11.3%, -10bps YoY) (23.5%, +60bps YoY) ($1.1T, +14% YoY)

7% CAGR 2% CAGR Record high +30bps +90bps 2x vs. 2021

Multi-LOB Customers2 Branch Active Customers4 Branch and Digital CSAT5 BB Primary Share8 Card OS Share10 Commerce Volumes12
(26mm, +7% YoY) (41mm, +4% YoY) (>5pt gains in each) (9.7% +20bps YoY) (17.3%, +60bps YoY) ($23B, +19% YoY)

INVESTING TO DRIVE GROWTH, PRODUCTIVITY AND POSITION FOR THE FUTURE

Returns on investments Productivity Tech, Data & AI

(2024) (vs. 2019) (YoY)

<4 yr >2x <5yr +25% >25% >30% +35%

Break-even on branches, Return on Payback on strategic Customers Accounts Reduction in Increase in
bankers and advisors marketing investments product & tech investments per branch13 per Ops FTE14 critical tech incidents value from AI / ML15

Best-in-class financial performance with >25% ROE on a reported and normalized basis16

For footnoted information, refer to slide 48 4

Best-in-class financial performance
2025
20191 2023 2024 outlook
Average deposits ($B) $698 $1,127 $1,064 ⚫ Deposit balances stabilized since coming off their peak

Deposit margin2 2.48% 2.84% 2.66% ⚫ Through-the-cycle deposit margins expected ~2.5%

Average loans ($B) $478 $526 $573

⚫ Sustained discipline in managing risk, capital and liquidity
Average Card outstandings $156 $191 $214
⚫ Card loan growth expected to continue

Revenue ($B) $55.0 $70.1 $71.5

Net interest income $37.3 $55.0 $54.9 ⚫ Wealth Management, Connected Commerce and Card fee
growth expected to continue
Non-interest revenue $17.8 $15.1 $16.6 ⚫ Higher auto lease income (and depreciation) expected

Expense ($B) $28.1 $34.8 $38.0 ~$41

⚫ Major investments across field/branch, marketing, tech, data
Investments $4.4 $8.1 $8.9 ~$9.5
⚫ Moderating investment growth

Credit costs ($B) $5.0 $6.9 $10.0

Card net charge-offs 3.10% 2.45% 3.34% ~3.6% ⚫ Card loss rates in line with expectations

Pre-tax income ($B) $22.0 $28.4 $23.5

ROE 31% 38% 32%

Note: Totals may not sum due to rounding

6
For footnoted information, refer to slide 48
Organic growth driving revenue

CCB REVENUE ($B): 2019-20241

+$16.5

$1.4 ($1.0) $71.5

$5.2

$10.9 Lending NII2 NIR

Card NII $16.6

16.6

NIR Growth +$6.3B

$55.0
▲ Wealth Management
Deposit NII ▲ Card OS (6% CAGR) ▲ Connected Commerce
▲ Consumer / Business Banking
$17.6
17.8 ▲ Card
NIR
▲ Deposit Balances (9% CAGR): +$9.1B
▲ Deposit Margin (+18bps): +$1.9B NIR Headwinds ($7.2B)
$54.9
54.9
▼ Auto Leasing
▼ Card Acquisitions
$37.3 ▼ Banking Product Changes
NII 37.3
▼ Mortgage Market

2019 Deposit NII Card NII Other NII NIR 2024

Note: Totals may not sum due to rounding

7
For footnoted information, refer to slide 49
Revenue diversification is a source of strength

CCB REVENUE ($B): 2023-2024 2025 OUTLOOK

+$1.4 Wealth
Management
& Connected
$1.5 $71.5
$70.1 ($3.7) $1.0 Commerce
$2.4
NIR Auto
Lending NII1
Deposit NII Card NII Leasing
NIR $15.1
15.1 $16.6
16.6

▲ Card OS (+12%) ▲ Home Lending ▲ Wealth Management Card Annual

▲ Card Fees
▲ Connected Commerce
▼ Deposit Balances (-6%): ($1.8B)
Deposit
▼ Deposit Margin (-18bps): ($1.9B)
Margin

NII $55.0
55.0 $54.9
54.9
~90% Deposit
Capture of net Balances
yield-seeking flows2

Card OS
2023 Deposit NII Card NII Other NII NIR 2024

Note: Totals may not sum due to rounding

For footnoted information, refer to slide 49 8
 Consumers and small businesses remain financially healthy against a noisy backdrop

QUESTIONS WE’RE HEARING… …WHAT WE’RE OBSERVING SELECT DATA POINTS

Is the labor market The labor market has moderated from a strong position in recent years, but remains resilient ~Flat
weakening? Consumers with payroll
⚫ Layoffs remain low disruption YTD vs. 20241
⚫ Finding and hiring staff remains a key challenge for small businesses even as payroll spend and hiring plans have eased

Is customer spend Overall spend growth remains solid +1.6%

slowing? YoY growth in credit card
⚫ Consumer spend is modestly higher YoY across income bands cohort spend YTD
(vs. 0.3% YTD 2024)2
⚫ Some weakness in travel spend – particularly airline

Are there emerging signs Financial health metrics do not show signs of elevated stress +2 days
of financial stress for Median cash buffers YTD vs.
⚫ Consumer cash buffers have largely normalized across income bands and remain steady historical norms3
consumers?
(Pandemic high: +17 days)
⚫ Debt payments-to-income ratio for low-income consumers is close to historical norms

Are small business Overall, small businesses remain financially healthy +4 days
financials softening? Median cash buffers YTD vs.
⚫ SMB cash buffers have largely normalized vs. historical norms historical norms3
(Pandemic high: +25 days)
⚫ Cash flows are relatively stable YoY

How has consumer and Concerns about the business environment are surging in survey responses (22 points) Consumer4
small business (10ppts) SMB5
sentiment changed? ⚫ Consumer and small business sentiment has weakened Declines in sentiment /
⚫ Small business expectations about inflation and supply chains have deteriorated optimism YTD

For footnoted information, refer to slide 49 9

We prepare for a range of macroeconomic outcomes

Key areas of risk and uncertainty

Geopolitical risks Regulatory uncertainty Inflation, liquidity and labor market

Central case

“Soft Landing” “Mild Recession” “Moderate Recession” “Deep Recession”

Non-recessionary soft landing with Shallow, early recession driven by Moderate, immediate recession Deep, early recession
Scenario de-escalation in trade tensions tariffs and economic uncertainty driven by tariffs with market sell-off with strong disinflationary impacts

Exit 2025 at 3.75% – cut to 3.50% in Exit 2025 at 3.50% – cut to 3.25% in Exit 2025 at 3.50% – cut to 2% by late Exit 2025 at 2.25% – cut to 0.25% by
Fed Funds Rate 2Q26 and remains flat through YE26 2Q26 and remains flat through YE26 3Q26 and remains flat through YE26 2Q26 and remains flat through YE26

Unemployment Peaks at 5.3% in 2Q26 and

Peaks at 6.5% by 2Q26 Peaks at 7.2% by 2Q26
Peaks at 4.4% in 3Q25
Rate remains above 4% through 2Q28

Inflation Near-term increase, abating Sharp increase, abating Sharp increase, moderately persistent Near-term increase, sharply abating

Growth is moderate, but elevated GDP contracts second half of 2025, Moderate recession through mid- Deep recession through mid-2026,
GDP policy uncertainty creates drag moderate growth post that 2026, growth resumes post that growth resumes post that

10
Primary banking relationships drive deposit balance increases

Scenarios Soft Landing Mild Recession Moderate Recession Deep Recession

BANKING & WEALTH MANAGEMENT AVERAGE DEPOSITS ($B) SCENARIOS ON DEPOSITS – ESTIMATED
Stress
Moderate or Deep Recession

9% CAGR1 Benign
Soft Landing or Mild Recession ~+6 to 10%
~+6 to 9%
$1,094 $1,126 $1,078 YoY: ~+3%
$1,035
$908

$697
Sweeps
CDs

Savings

Checking

4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 4Q25 4Q26 4Q27

117 Core drivers 145 In stress scenarios

~10mm ~80% / ~70% ~90%

Consumer3 / Business4 Capture of net New Flight to
Net new Consumer & Business Banking Personal
checking accounts since 20192 Primary bank yield-seeking flows accounts savings rate quality

For footnoted information, refer to slide 49 11

Recent rates and outlook provide structural support for deposit margin

Scenarios Soft Landing Mild Recession Moderate Recession Deep Recession

BANKING & WEALTH MANAGEMENT DEPOSIT MARGIN TRENDS DEPOSIT MARGIN SCENARIOS

6% Forward Rate Forecast2

2025 2026 2027
4%
Fed Funds 2.25% - 3.75% 0.25% - 3.50% 1.00% - 3.50%
5% 10 Year Treasury 3.00% - 4.20% 2.60% - 4.30% 2.70% - 4.40%

3%
4% 2.66%
~2.50%
Forward cycle
10 Year Treasury
3% 2.75%
2% ~2.00% Prior cycle
2.43%

2% Current Funding
1.90%
Average 1.52% Remaining term Current rate
1%
Deposit Margin1 Invested Short ~5%
1% <3 Years <2%
4-7 Years <2%
Fed Funds 8+ Years >4%
0% 0%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2024 2025 2026 2027
For footnoted information, refer to slide 50 12
Highly engaged customers drive card balances

Scenarios Soft Landing Mild Recession Moderate Recession Deep Recession

AVERAGE CARD OUTSTANDINGS ($B) SCENARIOS ON CARD OUTSTANDINGS – ESTIMATED

6% Card OS CAGR (2014-2024) Benign
Soft Landing or Mild Recession

Stress
6% CAGR Moderate or Deep Recession
~+3 to 7%
~+4 to 8%
YoY: ~+9%
$214
2023 Vintage
2024 vintage
2022 Vintage

2023 vintage

$156 2022 vintage

2019 Pre-'22 vintages

Pre-2022 vintages New account 2024 2025 2026 2027
seasoning
117
Core drivers 145 In stress scenarios

~10mm >60% 98%

New accounts per year in Top of wallet customers Account retention New Sales Revolve Mature book
2022-24 (up ~2mm since 2019) (+5ppts since 2019)1 (+70bps since 2019)2 accounts rate retention

For footnoted information, refer to slide 50 13

Credit card metrics are healthy

CREDIT RISK

2019 2024 ∆
% of portfolio <660 credit score1 16% 14% (2ppts)
Portfolio
% of OS from balance parker segment2 9% 5% (4ppts)

Industry: % of originations <660 credit score3 10% 8% (2ppts)

Originations
Chase: % of originations <660 credit score 3% 3% -

Mar 2009 Mar 2019 Mar 2024 Mar 2025

Current to 1 missed payment4 3.58% 1.55% 1.37% 1.45%
Leading indicators Current to 2 missed payments5 1.72% 0.52% 0.63% 0.61%
Minimum payment or <2.5% of balance6 41.7% 23.5% 20.0% 21.1%

NET CHARGE-OFF GUIDANCE: CENTRAL CASE

2019 2024 2025 outlook 2026 outlook

Card net charge-offs 3.10% 3.34% ~3.6% ~3.6% – 3.9%

For footnoted information, refer to slide 50 14

Card stress analysis

Primary driver of loss rate is unemployment rate – cumulative losses over time depend on size of balance sheet and shape of curve

ESTIMATED INCREMENTAL NET CREDIT LOSSES (2026)

Macroeconomic scenario Unemployment Peak Annualized Losses Incremental Losses ($B)

Soft Landing 4.4% ~3.6% ~($1.0)

Central Case 4.8% ~3.9% –

Mild Recession 5.3% ~4.3% ~+$1.0

Current 1Q25 reserve 5.8% – –

Moderate Recession 6.5% ~5.4% ~+$3.5

Deep Recession1 7.2% ~5.7% ~+$4.0

For footnoted information, refer to slide 50 15

Strong credit metrics across lending businesses

PORTFOLIO RISK METRICS ORIGINATION RISK METRICS

2019 2024 ∆ 2019 2024 ∆

% of portfolio <660 credit score2 18% 16% (2ppts)

Industry8 12% 18% 6ppts
Auto1
% of portfolio <660 credit score % of originations with
and LTV >1203
2.1% 1.1% (1ppt) Auto1 term ≥84 months
Chase 5% 5% -
Owned-portfolio avg. credit score6 758 774 16pts
Home
Lending4,5
Owned-portfolio avg. CLTV 55% 47% (8ppts)
Industry9 11% 15% 4ppts
% of portfolio – small dollar Home % LTV >80 HFI jumbo
18% 24% 6ppts
Business (vs. large dollar) Lending origination mix
Banking % of large dollar portfolio secured Chase5 9% 7% (2ppts)
61% 60% (1ppt)
by real estate / SBA guarantee7

NET CHARGE-OFF GUIDANCE: CENTRAL CASE

Business Banking
Auto Home Lending
(ex. Overdraft)

2019 2024 2025 outlook 2019 2024 2025 outlook 2019 2024 2025 outlook

0.33% 0.59% ~0.55% (0.05%) (0.04%) ~0.0% 0.47% 0.69% ~1.1%

For footnoted information, refer to slide 51 16

 Expense growth is moderating

DRIVERS OF ADJUSTED EXPENSE1,2 ($B)

53% overhead ratio in 2024 Ex. Auto leases All-in
YoY:

6%
8%

CAGR: $0.4 ~$41

$0.9
9% ~$2.5
~2.5
$0.5 $0.2
6% $0.7
$0.5 ~9.5
~$9.5
$37.9
$1.7
1.7

$28.0 $8.9
8.9
Auto lease
4.0
depreciation
~29.0
Investment 4.4 27.4

19.5
Run the
bank

2019 2024 Field & branch Marketing Technology & Operations & Auto lease Other 2025 Outlook
2025 outlook
Total ex. network product fraud losses depreciation
$23.9 $36.3 ~$38.5
Auto lease

Note: Totals may not sum due to rounding

17
For footnoted information, refer to slide 51
Field & Branch: Driving organic growth and productivity gains

FIELD AND BRANCH NETWORK EXPENSE ($B) KEY PERFORMANCE METRICS

New builds and field expansion
Same store New builds and field expansion
5% YoY

8% CAGR
<4 yr Break-even on branch, banker & advisor investments

+9%
~40bps Retail deposit share gains from new builds since 20191

Of client investment asset growth from new

+21%
35% advisors since 2019

Overall network (2019 vs. 2024)

+4%

+6% +25% Customers per branch2

+25% Deposit and investment production per banker3

2019 2024 2025O

2025 outlook
+60% SMBs covered per Business Relationship Manager4

5% 4% ~Flat ~875 >2x Flows per Wealth Management advisor

Checking accounts Field headcount6 Total branch count New builds

2019-2024 CAGR 2019-2024
+15% Sales productivity per Home Lending Advisor5

For footnoted information, refer to slide 51 18

 Marketing: Consistently driving strong results and customer engagement

CCB GROSS MARKETING1 ($B) KEY PERFORMANCE METRICS

Product Benefits2
Acquisitions and Media3 18% YoY Product Benefits
~$10.3
10% CAGR 13% Growth in annual fee revenue
2019-2024 CAGR
$8.8
2.8

2.4 +17%
(2ppts) Reduction in voluntary attrition on fee-based cards
2019-2024
$5.5 +8%

1.7
7.5
+14ppts Top of wallet share for branded card benefit users4

6.4
+18%
Acquisition and Media
3.9 +11%

>2 Return on investment of 2024 vintage

2019 2024 2025O
2025 outlook

Net
Marketing1 $3.1B $4.2B ~$4.8B +85% Increase in the total value of acquisitions5
2019-2024

Note: Totals may not sum due to rounding

For footnoted information, refer to slide 52 19
 Technology & Product: Spend is moderating and delivering strong returns

TECHNOLOGY & PRODUCT EXPENSE ($B) KEY DRIVERS AND OUTCOME BY THEMATIC EXPENSE CATEGORIES
Product, Design & Analytics Org.1
Strategic Investment & Product, Design, Analytics
Tech Investments
6% YoY
Tech Production
14% CAGR
>70% More code deployments over last 2 years >2
~$9 Return on
$8.5
1.7
Product, Design ~20% Reduction in churn over last 2 years2 investment
+10%
& Analytics with <5 year
1.5 payback3
+35% Increase in value from AI/ML YoY
Strategic
+21% investment
2.0
1.5 Modernization & low discretion investment
Low discretion
investment
+10% Key drivers ’19-24 ’24-’25O
$4.5
0.6
1.4 1.2 Modernization
Data center migration ✓
Data center
Product +13% Application modernization migration &
development 1.1
data in cloud
Tech
0.5
Product & platform maintenance
Modernization 4.2
4.1
+2%

2.3 Tech production

+12%

Key drivers ’19 - 24 24-’25O

2019 2024 2025 outlook
2025O
Core business drivers >30%
Reduction in
5% 6% 7% Wage inflation critical tech
incidents
Total accounts Digital logins Transactions
First Republic Integration
2019-2024 CAGR

Note: Totals may not sum due to rounding

For footnoted information, refer to slide 52 20
Operations: Realizing productivity gains

OPERATIONS EXPENSE ($B) KEY PERFORMANCE METRICS

Fraud losses and operating expense
2019 vs. 2024
Statement and payment processing
Servicing / account support
>25% (29%) (15%)
Accounts serviced per Servicing calls Processing cost
4% YoY
Operations headcount per account per account1
3% CAGR

11% 7% ~Flat ~Flat

Cost of fraud (bps) Operations headcount

~Flat 3%
OPERATIONS PRODUCTIVITY EX. HOME LENDING2 – ILLUSTRATIVE

~Flat ~Flat >25%

+28%
>40%
~15% productivity
2019 2024 2025O
2025 outlook productivity vs. 2024
vs. 2019
5% 7% 12% +13% (10%)
Total Accounts Transactions Fraud attack rate
2019-2024 CAGR
2019 2024
2024 5+ years
+5 years
For footnoted information, refer to slide 52 21
The scale of our data and our modernization strategy is fueling increasing value from AI / ML

Data >91mm Financial Interactions Transactions Travel Shopping

assets Customers ~41mm credit profiles ~373B digital interactions ~27B credit & debit transactions ~11mm trips booked ~18B Offers served

WE ARE UNLOCKING THE POWER OF OUR DATA… …WHILE REALIZING VALUE FROM AI AND PERSONALIZATION

Modernization area Progress Value driven by AI / ML2 Value drivers

Revenue generation Revenue generation
Migrate analytical data Cost & risk efficiencies
to the public cloud1 Enhance credit Marketing & sales
strategies optimization
+65%
Pricing Personalization
Users consume data
from the cloud
+35%
Cost & risk efficiencies
Consolidate data
to target platforms Fraud Operations
prevention efficiency

Risk Coding
Make the right data ready for
management productivity
AI/ML and available in real-time
2023 2024 2025 outlook
2025O

For footnoted information, refer to slide 52 22

Disciplined approach to enable outperformance through-the-cycle

THE OUTLOOK REMAINS FLUID WE HAVE DISCIPLINE AND FORTITUDE TO MANAGE FOR THE LONG-TERM

Macroeconomic Through-the-cycle approach

Consumers & small businesses External measures of sentiment Consistent investments Prudent credit
remain financially healthy have deteriorated quickly to strengthen and grow risk profile

Regulatory Strategic optionality

Favorable developments Significant uncertainty remains Revenue diversification and Technology and data
on national level at both national and state level expansion of growth businesses modernization

Competitive Growth mindset

Continued share gains Strong traditional and emerging Growth plans across Compete to win in payments,
across businesses competitors across key segments segments and products commerce and investments

We remain committed to our 25%+ ROE through-the-cycle guidance

23
CCB is a growth franchise

Strategic focus Line of business Long-term ambition Current position 5 year progress

Deliver exceptional experiences

across the franchise
Across CCB ~70 ~65 up ~5pts1
Net promoter score1

Consumer &
Business Banking
15% 11.3% +220bps
Retail deposit share2
Extend our #1 positions
across industry-leading businesses
Card 20% 17.3% +90bps
Card outstandings share3

Connected
Commerce
10% 5.4% +240bps
vs. 2021
Addressable Commerce spend share4
Continue to scale
our growth businesses
Wealth
Management
$2T $1.1T >2x
Client investment assets

Home 15% 21% / 9% 18%

Deliver strong, resilient returns Lending Through-the-cycle ROE (incl. FRC) (ex. FRC) in 20195

through-the-cycle in Secured
Lending businesses
Auto 17% 13% 13%
in 2019
Through-the-cycle ROE

For footnoted information, refer to slide 53 25

We’re continuously improving customer experiences across channels, products and experiences

~65 Net Promoter Score (NPS) in 2024 | Record High | ~5pt increase since 20191

Channel Satisfaction Product Innovation Product-Segment Fit Personalization

Deliver exceptional experiences Develop new solutions to Offer customers products and Ensure customers feel consistently
across channels and journeys address more customer needs services that best meet their needs known, anticipated and delighted

Digital New-to-credit Emerging segments Financial tools

~8 points >80 NPS ~70 NPS >80% CSAT

CSAT increase Freedom Rise Secure Banking Credit Journey
since 20192 in 2024 in 2024 in 20242
Record High

Branch Payment flexibility Advised relationships Banker meetings

~6 points >90 NPS Chase >70 NPS >90% CSAT

CSAT increase Chase Pay Advised BB & Banker meetings
since 20192 in 4 in 2024 Pay in 4® Wealth in 20243 in 20242
Record High

Customer experience is a game of inches – we are focusing on all dimensions to build enduring customer relationships and loyalty

For footnoted information, refer to slide 53 26

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Deposit and small business primary share gains outpace the competition

AVERAGE DEPOSITS ($B) MARKET PERFORMANCE

Consumer Banking #1 Retail deposit share1 2019-2024

11.4% 11.3%
+220bps
Peer 1 9.9% 10.1%
Peer 2 9.5% (50bps)
9.8%
$535 $742 7% CAGR
9.1% 9.2% (110bps)
8.7%

2019 2020 2021 2022 2023 2024

2019 2024
#1 Primary bank for SMBs2
Business Banking
7.2% (2014) 9.7%
9.5% 9.5% +30bps

$136 $234 12% CAGR

Peer 2
8.7% 8.7%
flat
8.8%
Peer 1 8.6% 8.1%
8.3% (50bps)
2019 2024
2019 2020 2021 2022 2023 2024

Share of newly formed Primary share of large

+200bps businesses since 20213 +140bps businesses since 20194

Note: Totals may not sum due to rounding

27
For footnoted information, refer to slide 53
 Banking Card Connected Commerce Wealth Management Home Lending Auto

Share gains reflect strong performance across our branch footprint

RETAIL DEPOSITS MARKET SHARE GAINS1 – ILLUSTRATIVE KEY STATISTICS BY MARKET SHARE

+370bps Markets by Chase deposit share in 2024

15%
<5% 5-15% 15%+ Total

Market size1 ($T) ~$4T ~$1.5T ~$4T ~$9.5T

+340bps ~200bps Deposit share1 0.7% 10.0% 22.5% 11.3%

+30bps/year (vs. 2019) (+60bps) (+180bps) (+450bps) (+220bps)
~70bps
(ex. FRC)

hChase ~100bps
Branches4 ~730 ~1,030 ~3,200 ~4,970
11.3%
hWaMu

~80bps Branch share1 1.5% 7.9% 14.1% 6.3%

(vs. 2019) (+130bps) (+40bps) (-40bps) (+50bps)
~100bps
9.1% ~40bps
New builds4 (’09-18) ~30 ~230 ~490 ~750
+220bps
7.9%
New builds4 (’19-24) ~660 ~110 ~110 ~875
Markets by 2024 share3

2014 2019 FRC New Builds Mature 2024 <5% 5-15% 15%+ Target
2014 2019 FRC New Mature
footprint
2024 <5% 5-15% 15%+ Ambition Expansion ~75%5 485 350+
Builds footprint2 targets Population coverage States with >50% New Builds
(~68% today) population coverage (29 today) (’25-27)
~40% from New Builds ~40% from New Builds

Making progress towards our long-term ambition of 15% national retail deposit share

Note: Totals may not sum due to rounding

28
For footnoted information, refer to slide 54
 Banking Card Connected Commerce Wealth Management Home Lending Auto

We gained share in ~95% of the top 125 markets that we have a presence in, including all top 25
TOP 25 RETAIL BANKING MARKETS1,2

#1 in 4 of the top 5 markets and gaining share broadly Gaining momentum in large expansion markets
Markets 15%+ share Deposit Share1 (vs. ’19) Branch Share1 (vs. ’19) Markets <5% share Deposit Share1 (vs. ’19) Branch Share1 (vs. ’19)

New York 25.5% (+410bps) 15.7% (-50bps) Boston 1.9% (+180bps) 4.1% (+370bps)

L.A. 22.9% (+680bps) 17.1% (+40bps) D.C. 2.0% (+180bps) 5.7% (+510bps)

Chicago 23.6% (+230bps) 12.4% (-80bps) Philadelphia 1.4% (+130bps) 4.3% (+390bps)
Minneapolis 0.8% (+80bps) 4.4% (+440bps)
Miami 16.0% (+510bps) 13.1% (+100bps)
St. Louis 0.8% (+80bps) 3.2% (+320bps)
San Francisco 22.8% (+1,030bps) 16.2% (+200bps)
Pittsburgh 1.0% (+100bps) 3.7% (+370bps)
Dallas 20.6% (+150bps) 11.6% (-180bps)
Baltimore 1.1% (+110bps) 5.0% (+500bps)
Houston 24.1% (+290bps) 11.8% (-170bps)
Nashville 1.5% (+150bps) 3.5% (+350bps)
Phoenix 27.5% (+270bps) 19.5% (-140bps)

Seattle 19.0% (+380bps) 13.6% (-120bps) Delivering strong capture in lower density legacy markets
Markets 5–15% Share Deposit Share1 (vs. ’19) Branch Share1 (vs. ’19)
Detroit 23.2% (+360bps) 13.8% (flat)
Atlanta 7.0% (+210bps) 9.5% (+270bps)
San Jose 22.3% (+870bps) 17.8% (+210bps)
Denver 13.3% (+260bps) 11.8% (+50bps)
San Diego 26.3% (+870bps) 18.6% (+240bps) Tampa 9.8% (+370bps) 10.1% (+150bps)
Riverside 24.2% (+680bps) 17.5% (+240bps) Cleveland 9.4% (+150bps) 8.5% (+230bps)

Younger branches are expected to contribute >$160B in incremental deposits once mature3

For footnoted information, refer to slide 54 29

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Product and segment strategies underpin customer growth and deepening

% Emerging
~25% of accounts5 Scaling Secure Banking, a product geared
11% CAGR towards younger and lower-income segments
Consumer Banking
Core
~70% of accounts6
43.7mm Consumer Banking customers1 3% CAGR
+4% CAGR Introduced J.P. Morgan Private Client as
a new tier in our affluent product continuum
Affluent
~80% Primary bank2
~5% of accounts7
5% CAGR
Expanded banker coverage to >2x more
Business Banking clients vs. 2019, while delivering ~70 NPS
Large
~10% of clients8 Launched new tools to help small
4.4mm Business Banking clients3 9% CAGR business owners including invoicing,
+9% CAGR payroll and customer insights

~70% Primary bank4 Small / Micro Improved NPS for Small / Micro clients
~90% of clients8 by 8 points over the last 2 years
9% CAGR

For footnoted information, refer to slide 55 30

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Gaining Card market share in a highly competitive market

KEY DRIVERS MARKET PERFORMANCE

Sales ($T) #1 Card sales share1 2019-2024

22.4% 22.9% 23.5%

+110bps
Peer 1
21.2% 20.4% 20.4% (80bps)
$0.8 $1.3 11% CAGR
Peer 2 +50 bps
11.4% 11.9% 11.9%

2019 2020 2021 2022 2023 2024

2019 2024

Outstandings ($B) #1 Card Outstandings share1,2

16.7% 17.3%
16.4% +90bps

$156 $214 6% CAGR Peer 2 10.3% 10.2% +10bps

10.1%
Peer 1 9.8% 10.2% +140 bps
8.8%
2019 2024
2019 2020 2021 2022 2023 2024

For footnoted information, refer to slide 55 31

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Focus on key segments and unlocking the power of data and distribution to fuel growth

DRIVERS OF OUTSTANDINGS MARKET SHARE GAINS – ILLUSTRATIVE MOMENTUM IN SEGMENTS WITH OUTSIZED OPPORTUNITY
Growth Segments (vs. 2019)
Growth Segments, Marketing & Risk
Starter Affluent SMB

+210bps
+270bps
+480bps ~8% +180bps
Gen Z CAGR in fee-based SMB
+20bps/year outstandings share card accounts2 outstandings share
20.0%

15.2% 16.4%
+90bps 17.3% While being the overall market leader, we are
Adjustment for Opportunity
not #1 within Affluent3 and SMB segments4
risk appetite1
(Reported share: 17.0%) +100bps ~25%
vs. ’22

UNLOCKING THE POWER OF DATA AND DISTRIBUTION

Marketing & Risk

+28% +140% >3x

Growth in new account Lift in accounts booked Revenue lift from
production (vs. 2019) from prequalified offers5 AI/ML risk models (YoY)

2014
2014 2019
2019 Drivers 2024
2024 Drivers Ambition
Target
Continue to leverage data and AI/ML models
Opportunity
+110bps to personalize offers and marketing
Sales share 21.2% 22.4% vs. ’22 23.5%

Making progress towards our long-term ambition to reach 20% share of outstandings

For footnoted information, refer to slide 55 32

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Fueled by building on our strength across card segments…

Premium Travel Sapphire Preferred named the best Travel Rewards

11% CAGR5 card in 2024 by The Points Guy

Card Expanded our award-winning lounge network,

opening five new Sapphire airport lounges, including
Phoenix and San Diego
Cash Back
59mm Active card accounts1 7% CAGR6
+7% CAGR

Ink Business Unlimited named NerdWallet’s 2025 Best

>60% Top of wallet customers SMB Small Business Credit Card
(+5ppts since 2019)2 13% CAGR7
Continued to deepen with Chase Business Banking
clients, who contributed >50% business card spend growth
Account retention3
~98% (each year since 2019)
New to Credit
Millennial & Gen Z Launched in 20238
~65% share of new Branded Refreshed United MileagePlus® cards, providing most
card accounts4 value the portfolio has ever offered

Co-brand Refreshed the Marriott Bonvoy Bold® card with

7% CAGR9 embedded lending and travel benefits

For footnoted information, refer to slide 56 33

 Banking Card Connected Commerce Wealth Management Home Lending Auto

…and strong new account production to drive sustained growth

WE ARE DELIVERING ON OUR ACQUISITION STRATEGY… …DRIVING STRONG POST-PANDEMIC GROWTH THROUGH DISCIPLINED UNDERWRITING

OS volume ($B) by vintages2 Size of 2019-2021 vintages impacted by COVID-driven

reductions in customer demand and risk pullbacks
Consistency

~10mm 2023
new accounts 2024
per year from 2022-2024 2022

2021 2019

>40%
lifetime value
2020
per new account
(+28% accounts) 2024 vs. 2019
Quality

+7ppts >1.5x ROI for 2019 & 2021 vintages 3

~2x ROI for 2022-2024 vintages
share of new accounts
Year 1 Year 2 Year 3 Year 4 Year 5
from premium portfolios1
2024 vintage vs. 2019 vintage
2019 2020 2021 2022 2023 2024
New accounts (mm) 7.8 5.4 8.0 9.6 10.0 10.0

For footnoted information, refer to slide 56 34

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Scaling Connected Commerce platforms

WE ARE CONTINUING OUR STEEP GROWTH TRAJECTORY1… …ENABLING US TO CAPTURE MORE OF OUR CUSTOMERS’ SPEND
Travel Volume ($B)2
Estimated addressable Commerce spend ($B)4
Estimated share of addressable Commerce spend

+10% CAGR
$5.1 $11.3 31% CAGR 5E+11 ~20.0%

4.5E+11 ~$435 ~18.0%

~$405
4E+11 ~$375 ~16.0%

2021 2024 3.5E+11 ~$330

~14.0%

3E+11
Offers and Shopping Volume ($B)3 ~12.0%
2.5E+11
~10.0%
2E+11

~8.0%
1.5E+11

$5.7 $12.2 29% CAGR ~5.4% +240bps

~6.0%
1E+11 ~4.9%
~4.0%
5E+10 ~3.0% ~4.0%

0 ~2.0%
2021 2024 2021 2022 2023 2024

Long-term ambition of 10% share of our customers’ addressable spend4

For footnoted information, refer to slide 56 35

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Fueled by investments in proprietary assets and engagement across our platforms…

Travel Increased share of Branded card travel spend on our platform to ~11%,
up 200bps since 20213
Customers booking
4.2mm travel (24% CAGR vs. 2021) Scaled The Edit to >1,000 hotels, offering exclusive benefits and experiences
at our premium hotel collection
Consumer leisure travel
#3 provider (up from #4 last year)1

Dining
Introduced the Sapphire Reserve Exclusive Tables program on OpenTable,
5.4mm Unique monthly visitors providing exclusive access to reservations at 250+ restaurants across the U.S.

Customers agree Sapphire Hosted ~25K attendees across our EEEEEATSCON and private dining series
~90% Reserve is a great card for dining last year, and sold out our first member-exclusive event in Miami in February

Offers & Shopping

Scaled Chase Media Solutions, our new digital media business that connects
16mm Customers activating offers
customers’ passions and interests with the brands they love
Attribution spend2
$12B (29% CAGR vs. 2021)
Launching The Shops at Chase as a premium ecommerce destination exclusive
to Chase cardholders with plans to add ~30 brands this year

For footnoted information, refer to slide 57 36

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Making payments, trust and security a competitive advantage

Credit
~20% of volume >6mm customers using our range of Pay Over Time solutions across credit and
11% CAGR debit cards in 2024 (+25% YoY growth in Pay Over Time originations)4

Debit
Consumer Payments ~10% of volume
9% CAGR
Pay Over Time now live on Amazon with installments for millions of our customers

$6.4T Consumer payments outflows1

Paze
11% CAGR Launched in 2024
Rolled out Paze, a digital wallet created in partnership with Early Warning Services,
to 21mm Chase customers
In total combined U.S. credit
#1 and debit payments volume Digital payments
& wires
~50% of volume3
Non-card payments are digital
~80% (+16ppts vs. 2019)2
15% CAGR

26% YoY reduction in Zelle fraud and scam claim rates, driven by continued
Zelle investment in customer education, detection and prevention capabilities
~5% of volume
32% CAGR

Zelle is the largest P2P platform with 3x the volume of a leading P2P player
Cash & checks
~15% of volume
1% CAGR

For footnoted information, refer to slide 57 37

 Banking Card Connected Commerce Wealth Management Home Lending Auto

We have doubled our Wealth Management business and have plans to double it again

EXCEEDED $1T ASSETS GOAL AHEAD OF TARGET… THERE IS SIGNIFICANT OPPORTUNITY WITHIN OUR FRANCHISE

Wealth Management client investment assets ($B) Consumer Banking Households (mm)3

40000000 % of total households who invest with us

% of affluent households who invest with us
2022-2024
22.0%
35000000

18.7% +160bps
~$500 ~$1,100 >2x 30000000
17.2%
18.2%
Affluent
17.0%
25000000

20000000
2019 2024
12.0%

15000000

…BY SUCCESSFULLY INTEGRATING BANKING AND WEALTH

10000000
In the branch Digitally +60bps
7.0%
6.8% 7.2%
6.6%
5000000

~90% #1 0 2.0%
New Chase Wealth Management J.D. Power rank in Wealth Management Digital 2022 2023 2024
clients referred from bankers1 Experience for Investor Satisfaction in 20242

We have set a new long-term ambition to double client investment assets again to $2T

For footnoted information, refer to slide 57 38

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Fueled by the strength of our integrated model and focus on our largest opportunities…

~55% share of investment wallet for clients with full-service advised

relationships3
Advice-led
Wealth Management (Full-service & remote) Opened 15 J.P. Morgan Financial Centers to deliver an elevated banking and
wealth experience4
1.6mm advised HHs
~3mm Wealth Management +9% CAGR
Evolved our affluent solution set including new planning and liquidity
households1
+12% CAGR resources and solutions for business owners

Wealth provider for ~19% of our affluent Consumer Banking households invest with us (+50bps YoY)
#1 Chase banking clients2

+5ppts share of wallet for clients with both full-service and self-directed
New full-service clients
>150K in 2024 (record high)3 (vs. full-service only)3
Self-Directed
(SDI) Rated #1 by Self-Directed Investors for Wealth Management Digital Experience
New self-directed Satisfaction 3 years in a row by J.D. Power5
>400K accounts in 2024
1.7mm funded accounts
+16% CAGR
Launched >20 new SDI capabilities in 2024 including detailed performance
reporting, trust accounts, fractional shares, and leveraged ETFs

~5% of our full-service clients have a self-directed relationship with us (+50bps YoY)

For footnoted information, refer to slide 58 39

 Banking Card Connected Commerce Wealth Management Home Lending Auto

…and enabled by advisor hiring and productivity gains

WE’RE GROWING AND IMPROVING OUR ADVISOR BASE NEW COHORTS ARE MORE PRODUCTIVE, ENABLING FUTURE SUSTAINABLE GROWTH

Flows per advisor by cohort1

2021

>2x
Productivity

Flows per advisor since 20191 2020

2022

2019

>30
Annual new clients per branch advisor in 20242
2023

37%
Expansion

Growth in advisor base since 2019

6 mo. 9 mo. 12 mo.

Year 1 15 mo. 18 mo. 21 mo. 24 mo.
Year 2 27 mo. 30 mo. 33 mo. 36 mo.
Year 3

~50% 2019 2020 2021 2022 2023

Of our advisors are <5 years in tenure # of Advisors per cohort3 559 412 624 560 652

New advisors hired over the last 5 years will contribute $180B in investment assets by 2030

For footnoted information, refer to slide 58 40

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Making progress in Home Lending despite severe macro headwinds

WE ARE FOCUSING ON WHAT WE CAN CONTROL MARKET REMAINS OUR BIGGEST OBSTACLE

Right sized our capacity based on market opportunity Rates7 Home Housing
~7% today Prices8 Inventory9

Increased sales productivity by ~15% since 20194 vs. 2019 +230bps +59% -20%

Home Originations
Scaled Chase MyHomeSM, our digital home shopping
YoY Δ ~Flat ~Flat +28%

Lending platform, to over 9mm unique annual users (+46% YoY)

Mortgage market is 35% smaller than 201910

Launched Home Equity in digital and branch in 1Q25

#1 Bank originator1 Mortgage origination market (mm units)11
$41B Originations2 Continuing to drive net new and protect existing D&I 7.8 ’19-’24 Δ
(61%) vs. 2019 balances5 through mortgage relationship pricing program
3.4 5.1 (35%)
Refi 4.2
#1 Owned servicer3 0.8 1.7 (50%)

$979B Portfolio Purchase 4.4 (24%)

3.4 3.4
+29% vs. 2019 Servicing Grew servicing book by ~$200B since 2019 to help us
achieve efficiencies of scale and lower cost per loan 2019 2023 2024
Market Size ($T)12
Increased servicing customer satisfaction to 85%
Refi $1.1 $0.2 $0.4 (68%)
(+10pts vs. 2019)6
Purch. $1.3 $1.2 $1.3 ~flat

Given investments and enhancements to our business, we expect to achieve 15% ROE through a normal cycle

For footnoted information, refer to slide 59 41

 Banking Card Connected Commerce Wealth Management Home Lending Auto

Chase Auto has a path to continued growth

WE DELIVER A HOLISTIC VALUE PROPOSITION FOR EACH OF OUR DISTINCT CLIENT SEGMENTS PORTFOLIO MIX SHIFT WILL IMPROVE RETURNS

Financed Units2 New Car Prices3 Used Car Values4

Scaled Finance & DriveSM to 13mm unique annual users; +16% (New/Used) (April 2025) (April 2025)
Consumers YoY in engagement with high-value features (e.g., shopping for a car)
vs 2019 -14% +31% +38%
~4mm consumers
Launching Refinance in May – relationship deepening opportunity
Auto YoY Δ ~Flat ~Flat +5%
with an estimated 30mm Chase customers with an off-us auto loan

Embedded opportunity to improve returns over time

#3 Bank auto
finance lender 1
Meeting end-to-end needs of dealers across consumer financing,
commercial products and personal financial needs of owners Loan versus Lease Mix
$40B Originations Dealers Balances Originations
Leveraging AI and automation to provide a streamlined experience
+19% vs. 2019 ~12K dealers
for dealers (~80% of credit decisions are automated)
in-network
Loan 74% 65% 69%
84%
$75B Avg Loans
+21% vs. 2019 Direct expenses flat vs. 2019 while growing originations by 19%
Lease 26% 35% 31%
16%

$11B Avg Lease 2019 1Q25 2019 1Q25

Delivering the full value of the firm (e.g., CIB, Connected
(49%) vs. 2019
Commerce) to our partners Lease mix normalization: Rebound in higher-return lease
Manufacturers originations will drive portfolio mix closer to 2019 levels
6 Private Label Driving sales for our partners by marketing to Chase customers Loan vintage mix shift: Newer, higher-return vintages will
partners through our owned assets (e.g., branches, ATMs, digital channels) replace higher-loss, COVID-impacted vintages of 2022-2023

While tariffs create uncertainty, lease & vintage mix normalization provides a medium-term path to reach our 17% ROE TTC target

For footnoted information, refer to slide 59 42

CCB is a growth franchise

Strategic focus Line of business Long-term ambition Current position 5 year progress

Deliver exceptional experiences

across the franchise
Across CCB ~70 ~65 up ~5pts
Net promoter score1

Consumer &
Business Banking
15% 11.3% +220bps
Retail deposit share2
Extend our #1 positions
across industry-leading businesses
Card 20% 17.3% +90bps
Card outstandings share3

Connected
Commerce
10% 5.4% +240bps
vs. 2021
Addressable Commerce spend share4
Continue to scale
our growth businesses
Wealth
Management
$2T $1.1T >2x
Client investment assets

Home 15% 21% / 9% 18%

Deliver strong, resilient returns Lending Through-the-cycle ROE (incl. FRC) (ex. FRC) in 20195

through-the-cycle in Secured
Lending businesses
Auto 17% 13% 13%
in 2019
Through-the-cycle ROE

For footnoted information, refer to slide 60 43

Closing thoughts

POSITION OF STRENGTH

Complete National Diversified At Scale

INDUSTRY-LEADING FRANCHISE

CONSUMER & BUSINESS BANKING CARD AND CONNECTED COMMERCE

#1 #1 #1 #1 #1 #3
Retail Retail deposits in Primary bank Card sales Card OS Leisure travel
deposit share1 4 of the top 5 markets1 for SMBs2 share3 share3,4 provider5

WEALTH SECURED LENDING CROSS-FRANCHISE

#1 #1 #3 #1 #1 #1
Wealth provider Bank mortgage Bank auto Credit and Branch Digital banking
for Chase clients6 originator & servicer7 finance lender8 debit volume network coverage9 platform10

LONG-TERM MANAGEMENT APPROACH

Through-the-cycle approach Strategic optionality Growth mindset

We remain committed to 25%+ ROE through-the-cycle

For footnoted information, refer to slide 60 44

Sapphire
CommunityLounge
Center
(Philadelphia)
(BedStuy) Community Center (BedStuy) J.P. Morgan Financial Center (Columbus Circle)
Notes on non-GAAP financial measures

1. Adjusted expense excludes CCB legal expense and is a non-GAAP financial measure. For 2019, reported noninterest expense was $28,058 million and legal losses were $70 million; for 2024, reported noninterest
expense was $38,036 million and legal losses were $98 million. Management believes this information helps investors understand the effect of certain items on reported results and provides an alternate presentation of
the Firm’s performance.

46
Notes on slide 3

Slide 3 – CCB operates from a position of strength

1. Consumer footnote: Federal Deposit Insurance Corporation (FDIC) Summary of Deposits survey per S&P Global Market Intelligence applies a $1 billion deposit cap to Chase and industry branches for market share.
While many of our branches have more than $1 billion in retail deposits, applying a cap consistently to ourselves and the industry is critical to the integrity of this measurement. Includes all commercial banks, savings
banks and savings institutions as defined by the FDIC. Deposit market share and rankings are calculated with historical institutional ownership for each year stated; measured from July to June each year; Business
Banking footnote: Barlow Research Associates, Primary Bank Market Share Database. Rolling eight-quarter average of small businesses with revenue of more than $100,000 and less than $25 million. 2023 results
include First Republic.; Card footnote: Based on 2024 sales volume and loans outstanding disclosures by peers (American Express Company (AXP), Bank of America Corporation, Capital One Financial Corporation,
Citigroup Inc. and Discover Financial Services) and JPMorganChase estimates. Sales volume excludes private label and Commercial Card. AXP reflects the U.S. Consumer segment and JPMorganChase estimates for
AXP’s U.S. small business sales. Loans outstanding exclude private label, Citi Retail Cards and Commercial Card

2. All references to Wealth Management in the CCB presentation refer to J.P. Morgan Wealth Management unless otherwise stated

3. Drive times are derived from road networks; population base is an estimate of year-end 2024 population across the contiguous 48 states and DC; Chase branch network includes branch openings occurring up until May
2025. Changes in road network, traffic patterns, shifts in the population base, and/or urban/rural classifications may impact forward-looking statements

4. #1 in U.S. mobile monthly active users (2024) among incumbent U.S. banking mobile apps based on Sensor Tower. Sensor Tower supplies modelled data through proprietary panels and apps

5. #1 banking brand based on Brand Health Masterbrand Q4 2024 Report

6. "Customer” includes both consumers and small businesses (respectively ~84mm and ~7mm as of December 2024) and reflects unique individuals and businesses and legal entities, respectively, that have financial
ownership or decision-making power with respect to accounts; these metrics exclude customers under the age of 18. Where a customer uses the same unique identifier as both a consumer and a small business (SMB),
the customer is included in both metrics

47
Notes on slides 4-6
Slide 4 – Increased strategic momentum over the last 5 years

1. Please refer to slide 3 footnote #6

2. Refers to consumers and small businesses with two or more relationships within the following sub-LOBs: Consumer Banking, Business Banking, J.P. Morgan Wealth Management, Card Services, Home Lending, and Auto

3. Digital active customers are users of all web and/or mobile platforms who have logged in within the past 90 days

4. Branch active customers are customers across all CCB lines of business who have visited a branch at least once a year

5. Net promoter score (NPS) is an indicator of customer satisfaction; represents Net Promoter Score gains over the last 5 years; Satisfaction represents customer satisfaction (CSAT)

6. All Market share gains rounded to the nearest 10bps unless otherwise noted

7. Please refer to slide 25 footnote #2

8. Barlow Research Associates, Primary Bank Market Share as of Q4 of respective year. Rolling 8 Quarter Trending Data of small businesses with revenues of $100K-<$25mm

9. Based on 2024 sales volume and loans outstanding disclosures by peer banks and JPMorganChase estimates. Sales volume excludes Private Label and Commercial Card. AXP reflects the U.S. Consumer segment and
JPMorganChase estimates for AXP’s U.S. small business sales. Loans outstanding exclude private label, Citi Retail Cards and Commercial Card

10. OS Share reflects Ascend OS data, methodology changed from Investor Day 2024 which used Nilson OS data

11. Includes assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager; Certain wealth management clients were realigned from Asset & Wealth Management (AWM) to
Consumer & Community Banking (CCB) in 4Q20

12. Includes Chase Travel Sales Volume (incl. FROSCH affiliates), and volume from Chase Offers, Chase Media Solutions, Shop Through Chase and Ultimate Rewards Apple Store; portions of Offers and Shopping volume
data sourced from 3rd party partners

13. Incudes only Consumer and Business Banking

14. FTE refers to full-time employees

15. Value is described as benefit in revenue, lower expense, or avoidance of cost – majority is measured as the lift relative to prior analytical techniques with the remainder relative to a random baseline or holdout control

16. 2024 Normalized ROE includes adjustments for 2.25% through-the-cycle deposit margin, 3.5% Card Services net charge-off rate, and a 6.5% Card Services allowance coverage ratio

Slide 6 – Best-in-class financial performance

1. Prior period numbers have been revised to conform to current period presentation

2. Reflects Banking & Wealth Management deposit margin

48
Notes on slides 7-11

Slide 7 – Organic growth driving revenue

1. Prior period numbers have been revised to conform to current period presentation

2. Includes NII related to Home Lending, Auto, BWM loans and capital resource allocations

Slide 8 – Revenue diversification is a source of strength

1. Includes NII related to Home Lending, Auto, BWM loans and capital resource allocations

2. % of internal yield seeking inflows (incl. J.P. Morgan Wealth Management flows, internal migration) of total measured yield seeking outflows (incl. J.P. Morgan Wealth Management flows, internal migration, external
brokerages, online banks, crypto exchanges); excludes net new money

Slide 9 – Consumers and small businesses remain financially healthy against a noisy backdrop

1. Share of consumers with a payroll disruption – weekly average through late-April vs. same period in 2024

2. As of April 2025; Cohort of credit card customers spend active in current month and same month last year, excluding accounts with limited tenure

3. Median cash buffer for a cohort of clients – YTD through April ‘25 vs. historic norms; Consumer cash buffers indicate the number of days of regular outflows that a consumer’s deposit balances can cover (checking and
savings accounts, ex. CDs); Business cash buffers (measured in days) indicate the number of days a business can cover regular expenses using existing cash assets from demand deposit accounts without new income

4. University of Michigan consumer sentiment – April 2025 survey vs. December 2024 survey

5. Chase pulse survey of small businesses, change in the share optimistic about the future – April 2025 survey vs. December 2024 survey

Slide 11 – Primary banking relationships drive deposit balance increases

1. Full year 2019 to 2024 CAGR

2. Represents net new accounts

3. Primary bank checking customers meet one of the following conditions: ≥15 withdrawals from a checking account or ≥5 withdrawals from a checking account & ≥$500 of inflows in a given month

4. Primary bank indicator based on account behaviors including account settlements (number and dollar volume of transactions), payroll processing, and digital activity. Prior reporting methodology (65%) had no client
exclusions and reflected year-end values; methodology has been revised to exclude clients without revenue or primacy information, <4 months on book, and <$100K revenue, and reflects full-year average

49
Notes on slides 12-15

Slide 12 – Recent rates and outlook provide structural support for deposit margin

1. Represents the simple average of deposit margin across the associated years

2. Represents year-end exit rate for Fed Funds Upper Bound and 10 Year Treasury

Slide 13 – Highly engaged customers drive card balances

1. % of monthly active customers who have >= 10 transactions or >= $833 per month ($10K in annualized) spend; annual rate calculated as an average across all months

2. Retention represents the % of Accounts which remained open from a population greater than 12 months old, excluding accounts which were charged-off or closed for inactivity

Slide 14 – Credit card metrics are healthy

1. Represents refreshed FICO scores and includes those with no FICO score

2. Customers who revolve on credit cards but are not spend active

3. Sourced from Experian

4. Represents balances in delinquency bucket 1 (1-29 dpd) that were current 1 month prior

5. Represents balances in delinquency bucket 2 (30-59 dpd) that were current 2 months prior

6. Represents the percentage of total balances on current accounts paying <2.5% of the outstanding balance or the minimum required payment

Slide 15 – Card stress analysis

1. Federal Reserve's 2024 DFAST Results and Methodology Disclosure remains instructive data point for more severe recession

50
Notes on slides 16-18

Slide 16 – Strong credit metrics across lending businesses

1. Chase Auto excludes Wholesale (Dealer Commercial Services) & Lease

2. Calculated using refreshed VantageScoreTM sourced from Experian

3. Represents FICO scores and LTV at time of origination

4. Includes AWM and Corporate mortgage loans

5. 2019 excludes First Republic

6. Represents refreshed FICO scores

7. Represents loans with origination amount greater than or equal to $500k that are backed by Real Estate collateral and/or have SBA Guarantee

8. Sourced from Experian

9. Sourced from Lender Share. Data is obtained from market shares relative to lenders participating in Curinos’ retail and correspondent channel origination analytics. Curinos is not liable for reliance on the data

Slide 17 – Expense growth is moderating

1. Please see footnote #1 on slide 46

2. Prior period numbers have been revised to conform to current period presentation

Slide 18 – Field & Branch: Driving organic growth and productivity gains

1. Reflects internal methodology which differs from FDIC

2. Includes only Consumer and Business Banking

3. Productivity data is based on banker incentive tracking for eligible job families

4. Reflects numbers for branch-based business bankers only

5. Based on purchase units

6. Includes licensed bankers, business bankers, and advisors only

51
Notes on slides 19-22

Slide 19 – Marketing: Consistently driving strong results and customer engagement

1. Gross marketing represents CCB marketing spend in a calendar year; Net marketing represents Gross Marketing adjusted predominantly for deferred credit card origination costs which are recognized as a reduction of
revenue over time

2. Product Benefits includes Cobrand Payments, Embedded Benefits, Product Development, COGs, and Other (Marketing Ops, Banker support, Data, Advocacy)

3. Acquisitions & Media Includes Acquisitions, Distribution, Activations, Media, Advertising, and Sponsorships

4. 14ppt greater top of wallet share for branded card benefit users versus non-benefit users

5. Based on Card, Consumer Bank, and Business Banking

Slide 20 – Technology & Product: Spend is moderating and delivering strong returns

1. Includes both investment and production expense

2. Churn represents unplanned changes to requirements during an agile sprint; years are tracked from April to March

3. Based on forecasted multi-year returns for 2025 strategic tech investments & Product, Design, Analytics organization expense

Slide 21 – Operations: Realizing productivity gains

1. Statement & Payment processing costs

2. Operations productivity excludes Home Lending, which has realized a meaningful headcount reduction due to the macro environment

3. Represents total CCB accounts

Slide 22 - The scale of our data and our modernization strategy is fueling increasing value from AI / ML

1. >90% of analytical data moved to the public cloud

2. Value is described as benefit in revenue, lower expense, or avoidance of cost – majority is measured as the lift relative to prior analytical techniques with the remainder relative to a random baseline or holdout control

52
Notes on slides 25-27

Slide 25 – CCB is a growth franchise

1. Net Promoter Score (NPS) is an indicator of customer satisfaction; represents Net Promoter Score gains over the last 5 years

2. Federal Deposit Insurance Corporation (FDIC) 2024 Summary of Deposits survey per S&P Global Market Intelligence applies a $1B deposit cap to Chase and industry branches for market share. While many of our
branches have more than $1B in retail deposits, applying a cap consistently to ourselves and the industry is critical to the integrity of this measurement. Includes all commercial banks, savings banks and savings
institutions as defined by the FDIC. Deposit market share and rankings are calculated with historical institutional ownership for each year stated; measured from July of start of period to June of end of period

3. OS Share reflects Ascend OS data, methodology changed from Investor Day 2024 which used Nilson OS data

4. Represents Branded credit card travel volumes addressable by our Travel platform (hotel, air, car rental, cruises) and debit and credit retail spend addressable by our Offers platform (ex. Oil and Gas); portions of Offers
and Shopping volume data sourced from 3rd party partners

5. Includes LLR; 2019 ROE has been adjusted to reflect full impact of loan sales executed in 2019 of which partial impact was reported in Chief Investment Office

Slide 26 – We’re continuously improving customer experiences across channels, products and experiences

1. Represents Net Promoter Score gains over the last 5 years

2. Represents customer satisfaction (CSAT); CSAT for financial tools represents Credit Journey

3. Represents advised relationships; Small businesses with revenue of more than $1mm and assigned to a business banker

Slide 27 – Deposit and small business primary share gains outpace the competition

1. Please refer to slide 25 footnote #2

2. Barlow Research Associates, Primary Bank Market Share Database as of 4Q24. Rolling eight quarter average of small businesses with revenue of more than $100,000 and less than $25mm

3. Reflects number of newly formed businesses that open accounts with Chase divided by new business formations as reported by Census

4. Large clients defined as businesses with an annual sales size of $1mm-$25mm; Barlow Research Associates, Primary Bank Market Share as of Q4 of respective year. Rolling 8 Quarter Trending Data of small businesses
with revenues of $100K-<$25mm

53
Notes on slides 28-29

Slide 28 – Share gains reflect strong performance across our branch footprint

1. Please refer to slide 25 footnote #2

2. Mature footprint excludes new builds (branches built between 2009 and 2024)

3. Markets within each deposit share tier are assigned based on 2024 deposit share

4. Represents internal methodology for full year numbers

5. Drive times are derived from road networks; population base is an estimate of year-end 2024 population across the contiguous 48 states and DC; Chase branch network includes branch openings occurring up until May 2025.
Changes in road network, traffic patterns, shifts in the population base, and/or urban/rural classifications may impact forward-looking statements

Note: All Market share gains rounded to the nearest 10bps unless otherwise noted

Slide 29 – We gained share in ~95% of the top 125 markets that we have a presence in, including all top 25

1. Please refer to slide 25 footnote #2

2. Markets within each deposit share tier are assigned based on 2024 deposit share

3. Young branches represent those <10Y

54
Notes on slides 30-32

Slide 30 – Product and segment strategies underpin customer growth and deepening

1. Consumer Banking customers’ reflect unique individuals that have financial ownership or decision-making power with respect to Consumer Banking accounts; excludes customers under the age of 18

2. Primary bank checking customers meet one of the following conditions: ≥15 withdrawals from a checking account or ≥5 withdrawals from a checking account & ≥$500 of inflows in a given month

3. Reflects Business Banking clients only, excluding Small Business Card-only

4. Primary bank indicator based on account behaviors including account settlements (number and dollar volume of transactions), payroll processing, and digital activity. Prior reporting methodology (65%) had no client exclusions
and reflected year-end values; methodology has been revised to exclude clients without revenue or primacy information, <4 months on book, and <$100K revenue, and reflects full-year average

5. Includes accounts tailored to younger and lower-income segments; includes Chase High School Checking, Chase College checking, Chase First Banking, and Chase Secure Banking

6. Includes following account types: Chase Total Checking, Chase Sapphire Checking, Chase Premier Plus Checking

7. Includes Chase Private Client Checking accounts

8. Large clients defined as businesses with an annual sales size of $1mm or greater; Small / Micro clients defined as businesses with an annual sales size under $1mm; captures Business Banking client growth from 2023-2024

Note: Products are not exhaustive; all CAGRs are 2019-2024; segment CAGRs represents growth in volume of checking accounts, not customer count

Slide 31 – Gaining Card market share in a highly competitive market

1. Based on 2024 sales volume and loans outstanding disclosures by peer banks and JPMorganChase estimates. Sales volume excludes Private Label and Commercial Card. AXP reflects the U.S. Consumer segment and
JPMorganChase estimates for AXP’s U.S. small business sales. Loans outstanding exclude private label, Citi Retail Cards and Commercial Card.

2. OS source is now Ascend, reflecting a source change from Investor Day 2024 which used Nilson OS data (Nilson 2024: Chase 17.3%, Peer 1 10.2%, Peer 2 10.2%)

Slide 32 – Focus on key segments and unlocking the power of data and distribution to fuel growth

1. 2014 reflects Nilson data; total column values for 2014 represent totals adjusted for balance parkers

2. Includes consumer credit cards with a $95 annual fee or higher

3. Based on Comscore application share for Proprietary Travel Fee-based Cards (2024)

4. Based on business sales volume across Amex and other payment networks (Visa, Mastercard, ChaseNet)

5. Based on observed account lift on Chase.com when we have prequalified ad or email offer

55
Notes on slides 33-35
Slide 33 – Fueled by building on our strength across card segments…

1. Defined as average sales debit active accounts

2. % of monthly active customers who have >= 10 transactions or >= $833 per month ($10K in annualized) spend; annual rate calculated as an average across all months

3. Account retention is based on voluntary attrition of accounts with greater than 12 months-on-book

4. Excludes SMB cards

5. Active Sapphire accounts

6. Active Freedom accounts (excluding Freedom Rise)

7. Active Ink accounts

8. Active Freedom Rise accounts

9. All active Co-brand accounts

Note: All CAGRs from 2019-2024

Slide 34 – …and strong new account production to drive sustained growth

1. Premium portfolio defined as Sapphire or Business portfolios

2. Monthly average OS volume

3. For comparative purposes, ROI for 2020 vintages is excluded due to relative size and composition

Slide 35 – Scaling Connected Commerce platforms

1. Connected Commerce business launched in 2021

2. Includes Chase Travel sales volume (incl. FROSCH affiliates)

3. Includes volume from Chase Offers, Chase Media Solutions, Shop Through Chase and Ultimate Rewards Apple Store; portions of Offers and Shopping volume data sourced from 3rd party partners

4. Represents Branded credit card travel volumes addressable by our Travel platform (hotel, air, car rental, cruises) and debit and credit retail spend addressable by our Offers platform (ex. Oil and Gas); portions of Offers
and Shopping volume data sourced from 3rd party partners”

56
Notes on slides 36-38

Slide 36 – Fueled by investments in proprietary assets and engagement across our platforms…

1. 2025 report from Skift research; note: ranking based on Travel Weekly Power List results, Skift Research and estimates

2. Includes volume from Chase Offers, Chase Media Solutions, Shop Through Chase and Ultimate Rewards Apple Store; portions of Offers and Shopping volume data sourced from 3rd party partners

3. Includes Chase Branded Card (excluding Slate); 2021 share calculated based on internal estimates

Slide 37 – Making payments, trust and security a competitive advantage

1. Reflects total outflow consumer payment volume

2. 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

3. Digital non-card payment transactions include outflows for ACH, BillPay, PayChase, Zelle, RTP, external transfers and digital wires, excluding credit and debit card sales; Other digital payments & wires includes ACH,
BillPay, Pay Chase, RFP RTP, SMB ACH, External Transfers, and wires

4. Includes our proprietary financing solutions – including Pay Over Time, Pay In 4, and Amazon Pay In 4 products

Note: All CAGRs from 2019-2024

Slide 38 – We have doubled our Wealth Management business and have plans to double it again

1. Refers to new clients investing >$100k with a Chase Wealth Management advisor

2. J.P. Morgan Wealth Management received the highest score in both the Self-Directed and Full-Service Investors segments of the J.D. Power 2024 U.S. Wealth Management Digital Experience Study of customers’ overall
satisfaction with wealth management websites and mobile apps. Visit jdpower.com/awards for more details.

3. Current customer segmentation not available pre-2022. J.P. Morgan Wealth Management Households represent a collection of individuals or entities aggregated together by name, address, tax identifier, and phone
number

57
Notes on slides 39-40

Slide 39 – Fueled by the strength of our integrated model and focus on our largest opportunities…

1. A household is a collection of individuals or entities aggregated together by name, address, tax identifier, and phone number

2. #1 outflow destination for Chase Consumer and Business deposit clients

3. Chase Wealth Management clients

4. As of April 24, 2025

5. J.P. Morgan Wealth Management received the highest score in the 2022 U.S. Wealth Management Digital Experience Study and the Self-Directed Investors segment of the J.D. Power 2023 & 2024 studies of customers’
overall satisfaction with wealth management websites and mobile apps. Visit jdpower.com/awards for more details.

Note: All CAGRs from 2019 to 2024

Slide 40 – …and enabled by advisor hiring and productivity gains

1. Chase Wealth Management advisors only

2. Refers to full-service clients only

3. Represents number of advisors originally hired into each cohort

58
Notes on slides 41-42

Slide 41 – Making progress in Home Lending despite severe macro headwinds

1. Full year 2024 ranking as per Inside Mortgage Finance, Copyright 2025; #1 rank is based on $47B total originations which includes Private Bank

2. Excludes Private Bank originations

3. 4Q 2024 ranking as per Inside Mortgage Finance, Copyright 2025

4. Based on purchase units

5. Deposits and investments

6. Servicing customer satisfaction measured through customer survey

7. FreddieMac Primary Mortgage Market Survey 30-Yr FRM average rate; vs 2019 Δ compares January 2019 vs April 2025; YoY Δ compares April 2024 vs April 2025

8. S&P/Case-Shiller U.S. National Home Price Index; vs 2019 Δ compares January 2019 vs February 2025; YoY Δ compares February 2024 vs February 2025

9. Realtor.com, Housing Inventory: Active Listing Count in the United States; vs 2019 Δ compares January 2019 vs March 2025; YoY Δ compares March 2024 vs March 2025

10. Based on Mortgage Banker’s Association mortgage origination market units

11. Mortgage Bankers Association

12. Inside Mortgage Finance, Copyright 2025

Slide 42 – Chase Auto has a path to continued growth

1. Experian FY2024 retail units

2. Experian FY retail financed units

3. April JDP Average Transaction Price

4. April Manheim used vehicle value index

59
Notes on slides 43-44

Slide 43 – CCB is a growth franchise

See notes on slide 25

Slide 44 – Closing thoughts

1. Please refer to slide 25 footnote #2

2. Barlow Research Associates, Primary Bank Market Share Database as of 4Q24. Rolling eight quarter average of small businesses with revenue of more than $100,000 and less than $25mm

3. Based on 2024 sales volume and loans outstanding disclosures by peer banks and JPMorganChase estimates. Sales volume excludes Private Label and Commercial Card. AXP reflects the U.S. Consumer segment and
JPMorganChase estimates for AXP’s U.S. small business sales. Loans outstanding exclude private label, Citi Retail Cards and Commercial Card.

4. OS Share reflects Ascend OS data, methodology changed from Investor Day 2024 which used Nilson OS data

5. 2025 report from Skift research; note: ranking based on Travel Weekly Power List results, Skift Research and estimates

6. #1 outflow destination for Chase Consumer and Business deposit clients

7. #1 rank is based on $47B total originations which includes Private Bank

8. Experian FY 2024 retail units

9. Accessible drive time of 10-minutes for populations that live in Cities / Suburbs and adjusted drive time for populations that live in Rural / Town based on typical drive times to other services; subject to change based on
underlying data shifts in population, road network, urbanicity changes

10. #1 in U.S. mobile monthly active users (2024) among incumbent U.S. banking mobile apps based on Sensor Tower. Sensor Tower supplies modelled data through proprietary panels and apps

60
Asset & Wealth Management overview

⚫ Fiduciary responsibility: Dedicated to generating alpha for individuals, corporations, sovereigns and central banks for two centuries
INDUSTRY-
LEADING ⚫ Broad, diversified platform: $6T AUS split roughly equally between AM and GPB, spanning every asset class, channel and region
FRANCHISE
⚫ Global reach with personalized advice: Comprehensive client coverage (150+ countries) and robust governance / controls for best offerings

⚫ Reliable growth engine powered by two market-leading businesses: Significant opportunity for growth across both businesses

INVESTING
⚫ Consistent, strong investment performance: 80%+ of long-term fund 10Y AUM above peer median1 for the past decade
FOR GROWTH

⚫ Innovation and investment: Accelerating momentum in Active Management, Active ETFs, Alts, Workplace, GPB advisors, Personalization and AI

⚫ Robust flows: $1T across 2023 and 2024 in combined net client asset flows, positive across all regions and channels

DELIVERING
⚫ Industry-leading results: AWM delivered 34% pretax margin and 34% ROE in 2024 while investing significantly in our growth agenda
RESULTS

⚫ Leveraging the power of the Firm: Elevating impact for our clients through collaboration and connectivity across JPMC

For footnoted information, refer to slide 17

1
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

Asset & Wealth Management delivers high-quality solutions to a broad spectrum of clients

COMPLETE GLOBAL DIVERSIFIED AT SCALE

AUS split roughly equally flows; all asset classes, JPMAM LT fund
$6T (AM and GPB)
150+ countries (client coverage) Positive regions and channels 85% 10Y AUM > peer median3

of world’s largest pensions

#1 Private Bank in the world1 57% and sovereigns as clients 73% recurring revenue 181 funds with 4/5-star rating4

Asset Manager of revenue generated revenue drivers for with $1T each in AUM in
#1 by active flows2
30%+ internationally
Multiple NII and NIR $3T equities, fixed inc.5 & MMF

SUPPORTED BY EXCEPTIONAL TALENT AND A COLLABORATIVE, WINNING CULTURE

For footnoted information, refer to slide 17

2
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

A growth franchise driven by two leading businesses

Asset Management Global Private Bank
ASSET & WEALTH MANAGEMENT
STRONG, CONSISTENT OUTCOMES IN 2024

ROE1 34% NCO rate1 1bp Recurring

revenue2
73% Pretax
margin2
34%
10Y range: 21%-34% 10Y range: 2-(1)bp 10Y range: 72%-75% 10Y range: 26%-37%

End of period (EOP), $B

ASSET MANAGEMENT 2014 2024 10Y Growth GLOBAL PRIVATE BANK2 2014 2024 10Y Growth
⚫ AM ranking by AUM3 (#) #6 #5 +1 ⚫ GPB AUS ranking5 (#) #7 #5 +2
⚫ AM ranking by active AUM3 (#) #4 #3 +1 ⚫ GPB productivity ranking6 (#) #2 #2 -
⚫ U.S. AUM4 $902 $2,059 2.3x ⚫ U.S. AUS $712 $2,151 3.0x
⚫ International AUM4 $414 $824 2.0x ⚫ International AUS $267 $751 2.8x
⚫ Clients with $1B+ (#) 2.4x ⚫ Clients with $100mm+ (#) 2.6x
⚫ Global Funds AUM $489 $1,191 2.4x ⚫ Chase WM AUM $70 $226 3.2x
⚫ Global Institutional AUM $827 $1,692 2.0x ⚫ GPB Deposits $151 $248 1.6x
⚫ AM client-facing (#) 601 842 1.4x ⚫ GPB client advisors (#) 2,392 3,775 1.6x
Assets Under Supervision2 ($T) Revenue2 ($B) Pretax Income2 ($B)
CAGR CAGR
CAGR +10%
+14% +14%
+6% $5.9 +2% $21.6 +2% $7.2
$3.1 $12.2 $13.6 $3.8
$2.3 $3.4

2014 2019 2024 2014 2019 2024 2014 2019 2024

For footnoted information, refer to slide 17

3
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

...with a significant opportunity for long-term growth

MARKET-LEADING POSITION WITH OPPORTUNITY FOR FUTURE GROWTH

Client assets ($T) Revenue ($B) 2030+ growth opportunities for AWM
Global Private Bank1 Total private banking industry revenue3
Asset Management JPM AUS
($B)
JPM rev.
Equities $2.0T AUM
$5.9 market share2 market share $1T today
$128
$93

9% Fixed Income $1.5T AUM

9% $1T today4
2019 2024

$3.1
Active ETFs $1.0T AUM
Active asset management industry revenue3
$162B today
($B)

Alternatives $1.0T gross assets

4% $495
$575B today5
$378

2%
Global Private Bank $5.0T AUS
2019 2024 2019 2024 $3T today

For footnoted information, refer to slide 17

4
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

We have a robust investment agenda in AWM

TOTAL EXPENSE / INVESTMENT ($B)1 KEY INVESTMENT AREAS

YoY change
+7% (2024-2025) 1 Active Management
$0.2 $15.0
CAGR
$0.2
$0.3 2 Active Management vehicles: ETFs
+8%
$0.2 2.7 +18%
$14.0 $0.2
3 Alternatives
2.3 -$0.2

4 Workplace
5.7 +4%
$9.7
Investment 1.0 5.5 5 Global Private Bank advisors

Volume- and
revenue- 3.7 6 Personalization
related 6.5 +5%
6.2
Run-the-bank 5.0
7 Technology and AI
2019 2024 Efficiencies Vol&rev AM GPB Tech/AI Other 2025
outlook

For footnoted information, refer to slide 18

5
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

1 Investing in Active Management

3 ONE-TRILLION-DOLLAR FRANCHISES

EQUITIES: $1 trillion AUM FIXED INCOME: $1 trillion AUM4 MONEY MARKET FUNDS: $1 trillion AUM
2024 10Y AUM 1st Q-tile 2024 10Y AUM 1st Q-tile
> peer median1 Three largest cat.2 Cat. AUM JPM Fund > peer median1 Three largest cat.2 Cat. AUM JPM Fund Three largest cat.5 Cat. AUM JPM Fund
Positioning
Large Growth $1.8T ✓ Interm. Core+ Bond $0.8T ✓ Insti. U.S. Govt. $2.4T ✓
12%
91% Large Blend $1.5T ✓ 88% Interm. Core Bond $0.5T ✓ Insti. 100% Treas. $0.8T ✓
market share5
Large Value $1.1T ✓ Multisector Bond $0.4T ✓ Insti. Treas. & Repo $0.8T ✓

#1 in 3Y Active Net Flows 3 #1 in 3Y Active Net Flows 3 #1 in 3Y Institutional MMF Net Flows 5

#3 in Active AUM 3 #3 in Active AUM 3 #2 in AUM 5

POWERED BY 3 KEY INGREDIENTS

RESEARCH RISK MANAGEMENT INSIGHTS AND ADVICE

>$500mm 6,000+
Investment Avg. # of positions analyzed daily
Asset class professionals Research
annual research spend +75% strategies monitored
Equities 460+ 160+
~5,000 Cross-asset
GFICC 380+ 70+ companies covered class governance +72% +35% 450
YoY in YoY in Guide major events and
Alts &
1,000+ 250+
~11,000 1B+ Eye on the Market to the Markets roadshows with
data pts. analyzed daily6 site engagement site engagement advisors a year
Solutions annual co. meetings 2022 2025

For footnoted information, refer to slide 18

6
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

2 Investing in Active Management vehicles: ETFs

SIGNIFICANT OPPORTUNITY STRONG PERFORMANCE AND MOMENTUM INDUSTRY LEADERSHIP

Active MF Industry Active ETF Industry 2024 % of 3Y JPM long-term active JPM active ETFs (#) 2024 active ETF AUM4($B) 2024 active ETF flows4($B)
AUM1 ($T) AUM2 ($T) ETF AUM above peer median3
CAGR +14x
Peer #1 $169 JPM $58
+6%
$36 CAGR Equities 97% JPM $162 Peer #1 $39
$27 +34%
$5 Peer #2 $80 Peer #4 $26

$1 Peer #3 $53 Peer #5 $21

Fixed Income 96%
2017 2024 2025 Peer #4 $49 Peer #6 $19
2024 2029 2024 2029

EXTENSIVE REACH AND OFFERINGS

NAMR EMEA APAC
3/5 largest active ETFs by AUM 5

24 active ETFs with >$1B AUM

Toronto Stock Exchange London Stock Exchange Shanghai Stock Exchange

10/10 in top fund categories by flows 6
JEPI JPST JEPQ JEUG JREG JREE A500 HK-LWAV A50

For footnoted information, refer to slide 18

7
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

3 Investing in Alternatives

60+ YEAR LEGACY OF INVESTING INDUSTRY-LEADING DISTRIBUTION MASSIVE OPPORTUNITY

✓ 57% largest pensions and Global Institutional Alts market AUM opportunity8 ($T)
#2
open-end U.S. Core RE fund AUM, 2024 ($T)
1961 Real Estate sovereigns as clients Individuals
(AUM)1 $6 $38
Institutions $1.7
✓ #4 manager of 3 rd party
Institutions $13

insurance assets6 $19

Alternative
>300
bps alpha in PE, HF Alts Total
1995
Solutions & multi-alts solutions2
GPB AUS, 2024 ($T)
✓ $2B alts fundraised / month $2.9
Global
✓ 850+ external alternatives
2024 Baseline Individuals: 2029
$91B
gross asset value managed
2006 Infrastructure Private Bank growth 5% to alts
across 1K+ assets
managers on platform
Alts Total

2017
Opportunistic
Credit
394 bps outperformance
in Special Situations3
✓ 70% U.S. Financial Advisor Global Funds AUM,
2024 ($T)
Top alts managers, 2024 gross assets9 ($B)
3rd party opportunity reached
advisors & 1,127 1,061
intermediaries ✓ #2 largest U.S. Intermediary $1.2
751
638 575
Top 2 Client Advisor team7
Timberland manager 517 484 455 441
2021 Forestry Alts Total
(AUS)4
282
Invest. + Deposits,
✓ 6K CWM advisors 2024 ($T)

JPM
Peer 1
Peer 2

Peer 3
Peer 4

Peer 5
Peer 6

Peer 7
Peer 8
Peer 9
$2.1
Growth Equity
2x
fastest Life Sciences VC fund Chase
2021
/ Life Sciences 1st time fundraise5 ✓ 5K Chase branches
Alts Total Alts AM Bank-owned AM&WM Traditional AM

For footnoted information, refer to slide 19

8
INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

4 Investing in Workplace

Equity Cap Table Executive Services Financial Wealth

Compensation Management (10b5-1) Education Management

KEY PERFORMANCE INDICATORS KEY EQUITY PLAN WINS VALUE TO THE FIRM

Assets under admin. ($B) Total participants (K) Synergies Opportunities

580+
Ireland
U.S. International +64%
+55% 1,500 equity administration

$270
$281 1,327
leads from bankers 200K+
addressable participants
$230 globally

$181
913
974
$35B
equity administration AUA
won from JPMC referrals 71K
participants already using
JPMC products & services
20%
equity administration client
wins from JPMC referrals
2022 2023 2024 1Q25 2022 2023 2024 1Q25

9
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

5 Investing in Global Private Bank advisors

INCREASED HIRING DIVERSIFIED PIPELINE ACCELERATED SUCCESS

Gross hires, U.S. Private Bank advisors1 Increasing portion of internally developed advisors1 Median 3rd Yr. Associate flows productivity1
Home-grown Lateral hires
+1.7x +3.4x
48%
+2.6x
33%
TALENT
67% 52%

2019 2024 2019 2024

+ INCREASED TRAINING HOURS AND ENHANCED CONTENT = 2019

Accelerated growth in productivity1

2024

Line thickness indicates size of class

Productivity (flows)
more training hours for
4x internally grown advisors

in addition to…
TRAINING
more teaching time from
3x best advisors 2019 Today 2030
Top U.S. Private Bank advisors volunteering to train new advisors in Hong Kong Cohort class

For footnoted information, refer to slide 19

10
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

6 Investing in Personalization

MODERN WEALTH PLATFORM EMPOWERING CLIENT PREFERENCES DELIVERING CUSTOMIZED SOLUTIONS

Number of separately
managed accounts (SMA)

nagement
. Passions
. G Tailored investment strategies based (mm) $25B
Ma oa on goals, life events and preferences +2x raised by 55ip platform in one year
x l
Ta

s
Consolidation of various investments
Asset & Wealth Management
into a single managed account
$380B+
managed on behalf of SMA investors
Custom portfolio analytics, execution
Open with best-in-class reporting
Invest
Top 3
User-driven choices on causes and SMA provider2
restrictions
ty
Fi x e

id i
d

qu

nc i
I

om L
s. Holistic, multi-asset tax management
e.
E qui
ties . Alter na ti
ve
and smart transition planning 20+
year track record
2021 Today1

For footnoted information, refer to slide 19

11
INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

7 Investing in Technology and AI

AI USE CASES INDUSTRY IMPACT

✓ Remove “no joy” work

NEW this year
✓ Drive productivity
✓ Increase revenue

✓ Enable quicker decision-making

✓ Proactive and anticipatory client advice
✓ Build for reuse

Smart Monitor Guidelines Connect Coach

Investors Operations Advisors

● AI-integrated workflow ● Automated coding ● Tailored outreach ideas
● Automated insights ● Automated alert management ● Meeting prep & next steps
● Custom universes ● Restriction analysis ● Real-time market insights
● Extensive coverage ● Advanced data query ● Answers from our experts

Time spent on researching a topic Productivity improved from automation Time to source discussion materials
(83%) +50% (90%)

“We’ve looked at AI across many different

industries – JPMorgan is playing an entirely
Before Today Before Today Before Today different game”

12
 INDUSTRY-LEADING
INDUSTRY LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

Elevating impact through connectivity and collaboration across JPMC

EXAMPLE OF BRINGING THE POWER OF JPMC TO OUR CLIENTS AND SHAREHOLDERS

CCB CIB AWM

Stadiums / Sell-side
#1 Private Bank 1 and Asset Manager2 Arenas Advisory #1 media advisory practice in 3 of last 4 years 9

INVE
#1 in Deposits & for Small Businesses ING S
ND Buy-side >60% of team owners are Private Bank clients 10

TM
Owners

E
Advisory

SPORTS L

EN
#1 Commercial & Investment Bank 3

10 of the last 15 team sales financed

T BANK
10

#1 Middle Market Syndicated Lender 4

Teams /
Leagues
23 Wall
6x AUS growth of team owners who we lend to 11

#1 in Artificial Intelligence 5

#1 in Customer Satisfaction 6
PR 65% of major sports & entmt. venues financed 12

IVATE BANK
PE Sports Trust & Estate
#1 Top Companies7 Investing Planning
#1 in sports debt private placements 13
Wealth

TOP 10 Most Admired Companies 8

Management

For footnoted information, refer to slide 19

13
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

Diversified revenue and flows

AWM REVENUE1 DRIVERS YOY 5Y NET CLIENT ASSET FLOWS

Revenue by % change NII NIR Down YoY Publicly traded peers ($B)
Mortgage Mortgage Deposit Lending Lending Perf. fees Mortgage Deposit Lending Perf. fees
Lending Deposit Perf. fees Deposit Brokerage Brokerage Perf. fees Mortgage Deposit Brokerage #1 BLK3 $2,167
Mgmt. fees Lending Brokerage Mgmt. fees Mgmt. fees Lending Lending Lending Brokerage Mgmt. fees
Brokerage Mgmt. fees Mgmt. fees Brokerage Mortgage Mortgage Brokerage Perf. fees Mgmt. fees Mortgage #2 JPMC2 $1,882
Deposit Brokerage Lending Mortgage Perf. Fees Mgmt. fees Mgmt. fees Mgmt. fees Mortgage Deposit
Perf. fees Perf. fees Mortgage Perf. fees Deposit Deposit Deposit Brokerage Perf. fees Lending #3 MS4 $1,610
AWM ANNUAL FLOWS1 DRIVERS
#4 SCHW 5 $872
Flows by asset class / products Net outflows
Multi-asset Fixed income Multi-asset Liquidity Fixed income Liquidity Equities Brokerage Liquidity Liquidity
#5 GS6 $772
Custody Liquidity Fixed income Multi-asset Liquidity Fixed income Liquidity Equities Custody Equities
Brokerage Alternatives Custody Custody Brokerage Brokerage Brokerage Custody Fixed income Custody
Alternatives Custody Liquidity Brokerage Deposits Equities Deposits Fixed income Equities Fixed income #6 UBS7 $667
Liquidity Multi-asset Brokerage Alternatives Custody Deposits Custody Alternatives Brokerage Multi-asset
Equities Deposits Alternatives Equities Multi-asset Custody Fixed income Multi-asset Multi-asset Alternatives
#7 STT3 $409
Fixed income Brokerage Deposits Fixed income Alternatives Multi-asset Alternatives Deposits Alternatives Brokerage
Deposits Equities Equities Deposits Equities Alternatives Multi-asset Liquidity Deposits Deposits
#8 BX8 $346
JPMC TOTAL NET CLIENT ASSET FLOWS2 ($B)
(Long-term AUM + Liquidity + AUS + U.S. WM AUS) $1T in 2Y #9 APO8 $335

$543 $516 #10 IVZ3 $312

$431
$337
$192
$38 $87 $101 $94 $54 Bank-owned AM&WM Traditional AM
WM Platform Alts AM
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

For footnoted information, refer to slide 20

14
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

AWM: The best of both banking and asset management

2019 2024
Return On Equity1 Return On Equity
40% 40%
Peer #11 Peer #4
35% 35%
Peer #3 Peer #1 Peer #2
30% Peer #2 30%
J.P. Morgan Asset & Wealth Management Peer #3 J.P. Morgan Asset & Wealth Management
25% 25%
Peer #1
Peer #5 Peer #6
20% 20%
Peer #6 Peer #4 Peer #5
15% Peer #9 15% Peer #7
Peer #7
Peer #10
Peer #8
10% Peer #12 10%
Peer #10 Peer #9 Peer #8
5% 5%
Peer #12 Peer #11
0% 0%
($100) $0 $100 $200 $300 $400 $500 $600 $700 ($100) $0 $100 $200 $300 $400 $500 $600 $700

$2.5B PTI Flows2 ($B) $2.5B PTI Flows ($B)

ANOTHER YEAR OF RECORD FINANCIAL RESULTS

$22B $7B $5B $236B $6T

Revenue Pretax income Net income Loans (end of period) Client assets

For footnoted information, refer to slide 20

15
 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS

Medium-term targets

LONG-TERM REVENUE PRETAX

ROE
AUM FLOWS GROWTH MARGIN

Medium-term
targets 4% 5% 25%+ 25%+

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Results range1
5% 8% 2% 7% 9% 5% 19% 5% 12% 9% 28% 37% 33% 35% 34% 28% 33% 25% 31% 34%

Meeting targets ✓ ✓  ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

For footnoted information, refer to slide 20

16
Notes on slides 1-4

Slide 1 – Asset & Wealth Management overview

1. Percentage of active mutual fund and active exchange-traded funds (ETF) assets under management (AUM) in funds ranked in the 1st or 2nd quartile: All quartile rankings, the assigned peer categories and the asset values used to
derive these rankings are sourced from the fund rating providers. Quartile rankings are based on the net-of-fee absolute return of each fund. Where applicable, the fund rating providers redenominate asset values into U.S. dollars. The
percentage of AUM is based on fund performance and associated peer rankings at the share class level for U.S.-domiciled funds, at a primary share class level to represent the quartile ranking for U.K., Luxembourg and Hong Kong
SAR funds, and at the fund level for all other funds. The performance data may have been different if all share classes had been included. Past performance is not indicative of future results. “Primary share class” means the C share
class for European funds and ACC share class for Hong Kong SAR and Taiwan funds. If these share classes are not available, the oldest share class is used as the primary share class. Due to a methodology change effective
September 30, 2023, prior results include all long-term mutual fund assets and exclude active ETF assets.

Slide 2 – Asset & Wealth Management delivers high-quality solutions to a broad spectrum of clients
1. Source: Global Finance Magazine.
2. Source: J.P. Morgan, ISS Market Intelligence Simfund, public filings and company websites.
3. Percentage of active mutual fund and active exchange-traded funds (ETF) assets under management (AUM) in funds ranked in the 1st or 2nd quartile: All quartile rankings, the assigned peer categories and the asset values used to
derive these rankings are sourced from the fund rating providers. Quartile rankings are based on the net-of-fee absolute return of each fund. Where applicable, the fund rating providers redenominate asset values into U.S. dollars. The
percentage of AUM is based on fund performance and associated peer rankings at the share class level for U.S.-domiciled funds, at a primary share class level to represent the quartile ranking for U.K., Luxembourg and Hong Kong
SAR funds, and at the fund level for all other funds. The performance data may have been different if all share classes had been included. Past performance is not indicative of future results. “Primary share class” means the C share
class for European funds and ACC share class for Hong Kong SAR and Taiwan funds. If these share classes are not available, the oldest share class is used as the primary share class. Due to a methodology change effective
September 30, 2023, prior results include all long-term mutual fund assets and exclude active ETF assets.
4. Source: Morningstar.
5. Includes assets managed on behalf of other product teams.

Slide 3 – A growth franchise driven by two leading businesses

1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Before 2018, amounts have not been revised to conform with the current
presentation.
2. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior-period amounts have been revised to conform with the current
presentation. Historical revenue revised as a result of the adoption of the new accounting guidance for revenue recognition, effective January 1, 2018.
3. Source: Public filings, company websites and press releases. Active / passive split based on most recently available data.
4. Asset Management represents Global Funds and Global Institutional.
5. Source: Company filings.
6. Source: Company filings, press releases, J.P. Morgan estimates and most recently available data.

Slide 4 – ...with a significant opportunity for long-term growth

1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior-period amounts have been revised to conform with the current
presentation. Historical revenue revised as a result of the adoption of the new accounting guidance for revenue recognition, effective January 1, 2018.
2. Source: McKinsey Performance Lens Global Growth Cube. Asset Management industry growth based on active AUM.
3. Source: McKinsey Performance Lens Global Growth Cube. Asset Management revenue based on fees generated on active AUM, excluding performance fees / carry and is net of distribution fees paid to distributors.
4. Includes assets managed on behalf of other product teams.
5. JPM alternative assets includes private equity, private credit, real assets, hedge funds, liquid alternatives and other nontraditional assets which may be presented using net asset value (NAV) of investments, or where applicable, using
gross asset values which includes borrowings under certain credit facilities of our funds. In quarterly filings, assets are predominantly presented using NAV and certain of these assets are reflected in other asset classes or categories
comprising total Client Assets.

17
Notes on slides 5-7

Slide 5 – We have a robust investment agenda in AWM

1. Adjusted expense is a non-GAAP financial measure, which represents noninterest expense excl. legal expense of $1mm, $379mm and $137mm for the full year 2019, 2024 and for the three months ended in March 31, 2025,
respectively.

Slide 6 – Investing in Active Management

1. Percentage of active mutual fund and active exchange-traded funds (ETF) assets under management (AUM) in funds ranked in the 1st or 2nd quartile: All quartile rankings, the assigned peer categories and the asset values used to
derive these rankings are sourced from the fund rating providers. Quartile rankings are based on the net-of-fee absolute return of each fund. Where applicable, the fund rating providers redenominate asset values into U.S. dollars. The
percentage of AUM is based on fund performance and associated peer rankings at the share class level for U.S.-domiciled funds, at a primary share class level to represent the quartile ranking for U.K., Luxembourg and Hong Kong
SAR funds, and at the fund level for all other funds. The performance data may have been different if all share classes had been included. Past performance is not indicative of future results. “Primary share class” means the C share
class for European funds and ACC share class for Hong Kong SAR and Taiwan funds. If these share classes are not available, the oldest share class is used as the primary share class. Due to a methodology change effective
September 30, 2023, prior results include all long-term mutual fund assets and exclude active ETF assets.
2. Source: Morningstar. Active only. Fixed Income excludes “Other Bond” category.
3. Source: J.P. Morgan, ISS Market Intelligence Simfund, public filings and company websites.
4. Includes assets managed on behalf of other product teams.
5. Source: iMoneyNet.
6. Through Spectrum for Risk Management.

Slide 7 – Investing in Active Management vehicles: ETFs

1. Source: Morningstar, PWC industry growth and ICI.
2. Source: Morningstar, J.P. Morgan estimates.
3. Percentage of active exchange-traded funds (ETF) assets under management (AUM) in funds ranked in the 1st or 2 nd quartile: All quartile rankings, the assigned peer categories and the asset values used to derive these rankings are
sourced from the fund rating providers. Quartile rankings are based on the net-of-fee absolute return of each fund. Where applicable, the fund rating providers redenominate asset values into U.S. dollars. The percentage of AUM is
based on fund performance and associated peer rankings at the share class level for U.S.-domiciled funds, at a primary share class level to represent the quartile ranking for U.K., Luxembourg and Hong Kong SAR funds, and at the
fund level for all other funds. The performance data may have been different if all share classes had been included. Past performance is not indicative of future results. “Primary share class” means the C share class for European
funds and ACC share class for Hong Kong SAR and Taiwan funds. If these share classes are not available, the oldest share class is used as the primary share class. Due to a methodology change effective September 30, 2023, prior
results include all long-term mutual fund assets and exclude active ETF assets.
4. Source: Bloomberg, FactSet and J.P. Morgan as of December 31, 2024. US and UCITS ETFs only; excludes ETNs.
5. Source: Morningstar.
6. Source: Morningstar. Based on top categories by 12-month net flows.

18
Notes on slides 8-13

Slide 8 – Investing in Alternatives

1. Source: NFI-ODCE as of March 31, 2025.
2. Source: PE outperformance represents direct alpha vs. MSCI World index, as of September 30, 2024. HF outperformance vs. HFRI FOF Conservative Index as of April 30, 2025. Multi-alts outperformance vs. 60% MSCI ACWI 40%
JPM Global HY index as of September 30, 2024.
3. Source: Special Situations outperformance based on Lynstone Special Situations Fund I Net IRR vs. Bloomberg U.S. Corporate HY Total Return Index as of December 31, 2024.
4. Source: IPE Real Assets Survey, peer websites and annual reports. As of March 31, 2025.
5. Source: Preqin as of June 30, 2024.
6. Source: 2025 Insurance Investment Outsourcing Report from Clearwater Analytics.
7. Source: Market Metrics as of June 30, 2024.
8. Source: McKinsey Performance Lens Global Growth Cube, J.P. Morgan estimates.
9. Source: Public filings. JPM alternative assets includes private equity, private credit, real assets, hedge funds, liquid alternatives and other nontraditional assets which may be presented using net asset value (NAV) of investments, or
where applicable, using gross asset values which includes borrowings under certain credit facilities of our funds. In quarterly filings, assets are predominantly presented using NAV and certain of these assets are reflected in other
asset classes or categories comprising total Client Assets. Euro-denominated peers converted to USD at 1.05 EUR/USD.

Slide 10 – Investing in Global Private Bank advisors

1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior period amounts have been revised to conform with the current
presentation.

Slide 11 – Investing in Personalization

1. As of March 31, 2025.
2. Source: Cerulli Associates 2024 U.S. Managed Accounts report based on December 31, 2023 data.

Slide 13 – Elevating impact through connectivity and collaboration across JPMC

1. Source: Global Finance Magazine.
2. Source: J.P. Morgan, ISS Market Intelligence Simfund, public filings and company websites.
3. Source: Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Total CIB.
4. Source: Middle Market Bookrunner rank based on data from London Stock Exchange Group, Full Year 2024.
5. Source: Evident AI Index.
6. Source: J.D. Power 2024 U.S. Wealth Management Digital Experience Study (ranked #1 among self-directed investors).
7. Source: LinkedIn’s 2024 Top Companies list, which ranks the 50 best large U.S. companies for career growth.
8. Source: Fortune magazine’s Most Admired Companies list for the eighth year in a row.
9. Source: Dealogic (by volume).
10. Across the 5 major U.S.-based sports leagues.
11. From 2019-2024.
12. Last 5 years in North America and Europe.
13. Source: J.P. Morgan, Private Placement Monitor. Note: 2021-2025 YTD. League table as of April 1, 2025.

19
Notes on slides 14-16

Slide 14 – Diversified revenue and flows

1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior-period amounts have been revised to conform with the current
presentation. Historical revenue revised as a result of the adoption of the new accounting guidance for revenue recognition, effective January 1, 2018.
2. JPMC flows in the 2020-2024 period include net flows from Asset & Wealth Management client assets and U.S. Wealth Management investments and deposits, adjusted to eliminate double-count. In the fourth quarter of 2020, the
Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior period amounts have been revised to conform with the current presentation. JPMC flows prior to
2020 period include net flows from Asset & Wealth Management client assets, U.S. Wealth Management investments and CPC deposits, adjusted to eliminate double-count
3. Total AUM net flows.
4. Flows include Investment Management total net flows, Wealth Management net new assets. Excludes impact from acquisitions E*Trade, Eaton Vance, Hyas Group and Cook Street.
5. Investor Services net new assets. Net new assets excludes impact from acquisitions of TD Ameritrade and asset acquisition from USAA’s Investment Management Company.
6. Firmwide total AUS net flows. Excludes impacts from NNIP acquisition.
7. Flows include Asset Management net new money, Global Wealth Management net new assets (2022-2024) and net new money (2020-2021). Excludes impact from CS acquisition.
8. Total AUM net flows less realizations.

Slide 15 – AWM: The best of both banking and asset management

1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Before 2018, amounts have not been revised to conform with the current
presentation.
2. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior-period amounts have been revised to conform with the current
presentation. Historical revenue revised as a result of the adoption of the new accounting guidance for revenue recognition, effective January 1, 2018.

Slide 16 – Medium-term targets

1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior-period amounts have been revised to conform with the current
presentation. Historical revenue revised as a result of the adoption of the new accounting guidance for revenue recognition, effective January 1, 2018.

20
Topics of discussion

Overview of the Commercial & Investment Bank (CIB)

Updates: Securities Services, Markets, Global Banking

Deep dive: Payments

Closing remarks and outlook

Q&A

1
The combined Commercial & Investment Bank is built around our clients

Mid and Large Commercial Real Government and Institutional Global and
Start Ups Middle Market
Corporates Estate Public Sector Investors Regional Banks

Commercial & Investment Bank

Payments Global Banking Markets Securities Services

TS, MS, Trade, Embedded Finance, Commercial Banking, Corporate Banking, FICC, Equities, Research Custody, Fund Services, Trading
Digital Solutions Investment Banking Services, Data Solutions

#1 9.5% #1 9.2% #1 11.4% #3 10.7%

Treasury Services1 Treasury Services U.S. Middle Market2 IB Fees market Markets4 Market share4 Securities Services5 Market share5
market share1 share3

Global reach with Empowered and Market-leading capabilities Relentless client focus Rich data assets and
local delivery collaborative teams and tailored solutions and deep industry expertise cloud-based platforms

For footnoted information, refer to slide 37

2
Our franchise strength is a key differentiator and provides unmatched value

COMPLETE GLOBAL & LOCAL DIVERSIFIED AT SCALE

client penetration with countries with on-the- of revenue in NIR, capital raised for clients
21% 60+ ~70% ~$1.3T
U.S. Middle Market1 ground presence across different fees in 2024

of the Fortune 500 do of top 75 MSAs with of revenue generated trades settled daily on
90%+ 74 ~40% ~$3.2T
business with us dedicated team internationally average4

of products where we clients across CIB payments processed

~95% 120+ currencies settled ~100K $10T+
are a market leader2 businesses3 daily on average5

EXCEPTIONAL TALENT & CULTURE

For footnoted information, refer to slide 37

3
We remain focused on executing key strategic priorities through the cycle

EXPAND AND DEEPEN OUR Driving client acquisition in high-potential markets and deepening relationships, through
CLIENT FRANCHISE strategic client segmentation and tailored offerings

INNOVATE TO EXTEND OUR Delivering more value to clients through innovative solutions, broad-based capabilities and
COMPETITIVE ADVANTAGES targeted investments

HARNESS PROPRIETARY DATA Leveraging our rich data assets and cloud-based platforms to provide valuable insights
TO DELIVER BUSINESS VALUE across the firm and to clients

Empowering our teams to serve clients in a highly-differentiated manner, while continuously

INVEST IN OUR TEAMS
attracting top-class talent

MAINTAIN FORTRESS Preserving a strong credit and control culture through rigorous client selection, rooted in
PRINCIPLES a long-term, through-the-cycle approach

DRIVE STRONG Driving resilient and diversified earnings through ongoing expense discipline, long-term
FINANCIAL PERFORMANCE investments and a focus on capital efficiency

4
Delivering sustainable growth with strong returns

 Revenue ($B)  Adjusted net income ($B)1

5Y CAGR2
$70.1
$64.4
$62.0 $59.6
$58.8 Revenue

$48.7 +8%
Securities Services
Lending
Investment Banking
$26.6 $25.0
Payments Adj. net income1
$20.4 $19.2 $20.9
$16.2
+9%
Markets

2019 2020 2021 2022 2023 2024

Capital

Capital ($B) $102 $102 $107 $128 $138 $132 +5%

16%
Adjusted Medium-term
15% 19% 24% 14% 15% 18%
ROE (%)1 ROE outlook3

1 Thispresentation includes certain non-GAAP financial measures, which exclude the impact of legal expense. Refer to slide 36 for a reconciliation of reported results to these non-GAAP financial measures
2 The CAGR and YoY calculations use actual, not rounded, numbers
3 Medium-term ROE outlook excludes the impact of legal expense

5
Investing in our franchise while maintaining strong expense discipline
CIB ADJUSTED EXPENSE ($B)1
~50%
Overhead ratio in 2024
~7% YoY

~$38.0 Volume- and revenue-related

$35.1  Performance-driven compensation
 Brokerage

Investments
$26.0  Front office / Client coverage
 Technology
Volume- and
revenue-related  Infrastructure modernization
 Products, platforms and experience
Investments  Regulatory, risk and controls

Run the bank

 Bankers, Sales, Research, Traders and Product Development
Run the bank  Operations, Risk, Finance and other support functions
 Technology
 Production support and infrastructure
 Third-party vendors
2019 2024 2025 outlook

1 This presentation includes certain non-GAAP financial measures, which exclude the impact of legal expense. Refer to slide 36 for a reconciliation of reported results to these non-GAAP financial measures. The CAGR and YoY calculations use actual, not rounded, numbers
6
Our investments are focused on delivering value

CIB INVESTMENTS ($B)1 FRONT OFFICE INVESTMENTS DRIVING GROWTH – examples (since 2019)2

8% YoY 1.6x 4.0x 42

$4.7 Emerging Middle Market Innovation Economy New cities with
$4.3 $0.3 revenue growth revenue growth local coverage
$0.2
$0.7
$0.6 TECHNOLOGY INVESTMENTS DELIVERING VALUE ($B)1

6% YoY

$3.7
~98%
$3.5 Production applications
$2.8 $0.3
Other $0.2 $0.3 migrated to strategic data
$0.3 centers and public cloud3
Front office $0.9
$1.0

$3.5
$3.7
Reg., Risk &
Controls
$2.3
$0.2
~40%
Reduction in
Infrastructure $0.5
KYC unit cost (vs 2022)4
Modernization
Technology $2.3
$2.5
Products,
Platforms & $1.6
$2.2
~3.4x
Experiences Peak volumes in Cash
Equities supported in Markets
technology ecosystem (vs 2019)5
2019 2024 2025 outlook 2019 2024 2025 outlook

For footnoted information, refer to slide 38

7
Executing a multi-faceted growth agenda powered by our connected businesses

PARTNERSHIP AND ALIGNMENT UNLOCK VALUE… …AND POSITION US TO CAPTURE SIGNIFICANT MARKET OPPORTUNITIES

LARGE AND GROWING ADDRESSABLE MARKETS

PAYMENTS
~$370B ~$1.7T ~60K
Global VC investment Private Credit Prospects in North America
in 20241 global market size2 Middle Market

GLOBAL SECURITIES
BANKING SERVICES

POWERFUL TAILWINDS

~$6T ~$320T ~$1.6T ~65%

2024 Global PE Cross border Financing needed to Emerging markets’
MARKETS AUM3 transactions expected develop digital infrastructure contribution to global
by 20324 (2025-2030)5 economic growth by 20356

Continuous collaboration with our AWM and CCB partners

For footnoted information, refer to slide 38

8
SECURITIES SERVICES

Securities Services is the strategic partner for the world’s largest institutional investors

BUSINESS OVERVIEW

Custody Diversified client base

Servicing of listed assets in 100 markets globally
~60% ~50/50
Traditional Fund Services Revenue from outside Revenue split between asset
Accounting across the full range of funds and instruments
the U.S. owners and managers1

Trading Services
Lending and collateral solutions for portfolio optimization
Operational scale and efficiency
Securities ETFs
Services End-to-end automation across ETF lifecycle 32%+
Best-in-class Positive operating
Alternatives operating margin2 leverage
Complete offering across Alternatives portfolio

Middle Office Front-to-back integration

Differentiated outsourced investment operations

Data Solutions 100%

Cloud native data management and investment analytics
Leading provider with complete of top 200 clients overlap
Markets offering with Markets

1 50/50 split is applicable to all Securities Services revenue, excluding Depositary Receipts
2 Average operating margin FY 2019 – FY 2024
9
SECURITIES SERVICES

We have strong financial performance driven by our scale

FINANCIAL PERFORMANCE
KEY METRICS
REVENUE1 ($B)
(2019-2024)4

Global AUC Cost per transaction5

Mature
5Y CAGR2 Custody ▲ 31% ▼ 11%
$5.1

Traditional Daily NAVs Cost per daily NAV5

$4.1
Fund Services ▲ 29% ▼ 8%
▲ 6.2%
NII
Trading Lendable balances Cost per trade5,6
Services ▲ 81% ▼ 72%
Fees ▲ 2.8%
AUC
ETFs ▲ 319%
2019 2024

Average deposits $155B $204B ▲ 5.7% AUA

Alternatives ▲ 115%
AUC $27T $35T ▲ 5.6%
Middle AUA
Rank3 #3 #3

Growth
Office ▲ 50%

Market share3 10.2% 10.7%

Data Continued scale of Fusion platform
Solutions
32%+ Avg. operating margin through the cycle

For footnoted information, refer to slide 39

10
SECURITIES SERVICES

Our strategic focus areas will drive further growth

FACTORS IMPACTING THE BUSINESS KEY FOCUS AREAS

Grow with long-term clients by providing exceptional service

Concentration, consolidation of
AUM into the largest players

Invest in data solutions and growth products to deepen client relationships and
grow revenue
Rise of Alts and ETFs

Continue to scale our operating model to process higher volumes at a lower cost
Price compression

New outsourcing needs (data) Improve productivity though automation and investments in AI/ML

11
MARKETS

We are the top Markets franchise, rooted in client-centricity and sound risk discipline

BUSINESS OVERVIEW

Our differentiated strategy and capabilities… …enable us to meet clients’ needs across the trade lifecycle

ranked1 research organization, and 90K+2 users active

Research #1 monthly on J.P. Morgan Markets

Complete and global counterparty

Trading Top-2 in 11 of 13 Markets sub-products3

Intense client-centric focus Financing ~75% increase in Financing4 revenues since 2019

Clearing and
~$4.3T trades settled daily in 2025 peak week5
Dynamic capital allocation Settlement

Digital and of all trades executed through digital platforms2,

e-trading solutions
~75% across asset classes
Digital capabilities backed by
scalable infrastructure
87% #1
coverage of institutional investors6 ranked7 in Americas, EMEA and APAC

For footnoted information, refer to slide 39

12
MARKETS

Despite our industry-leading position, further opportunities remain

FINANCIAL PERFORMANCE
PRODUCT REVENUE1 AND MARKET SHARE2 CLIENT WALLET AND MARKET SHARE

Institutional wallet
EQUITIES
Revenues in $B NOT TO SCALE 5Y wallet SoW change
5Y CAGR3 CAGR3 (2019-2024)
12.9%
13%
$30.0 12.2% 12.2% 12.4%
▲ 7.8% ▲ 230bps
13%
11.8%
12% Large
11.1% 12% Institutional4
$9.9 ▲ 9.7% 11%
11%
$21.0
▲ 180bps
10%
2019 2020 2021 2022 2023 2024 Mid-Size / Small  0.6%
Institutional4
Equities $6.3 #1 rank2 (tied) #1 rank2 #2 rank2

2019 2024
$20.1 ▲ 6.4% FICC

FICC $14.7 Corporate wallet

12.8% 5Y wallet SoW change
12.2%
11.6% 12%
CAGR3 (2019-2024)
10.7% 10.8% 10.9% 11%
10%
2019 2024 9%
8% ▲ 6.4% ▲ 30bps
Rank2 #1 #1 7% Corporate5
2019 2020 2021 2022 2023 2024
Market #1 rank2
11.4% 11.4% 2019 2024
share2

For footnoted information, refer to slide 40

13
MARKETS

Our strategic priorities position us for future growth

FACTORS IMPACTING THE BUSINESS KEY FOCUS AREAS

Continue deploying capital and financial resources in a disciplined and dynamic manner

Heightened market volatility against the

backdrop of geopolitical uncertainty
Deepen client relationships with focus on Corporates and Financial Sponsors

Evolving capital and liquidity conditions Expand product offerings across select geographies and asset classes

Advance Financing and Structuring solutions to meet tailored client needs across asset classes

Growing prominence of nonbanking

institutions and platforms
Invest further in e-Trading capabilities and market structure innovation

Continued electronification and growing

importance of digital infrastructure Enhance digital platforms and further integrate with clients across channels

14
GLOBAL BANKING

We are focused on serving Global Banking clients across the spectrum with broad-based capabilities

BUSINESS OVERVIEW

Clients1 covered via dedicated

Commercial Banking Global Corporate Banking Client segmentation to teams within start-up banking,
deliver tailored solutions ~80K EMM2, mid-cap and large-cap
Global Investment Banking verticals across industries

Global Corporate Banking

Serving clients across their lifecycle with Global scale combined
broad-based capabilities with local delivery 40%+ revenue generated outside
the U.S.

Delivering the full GB clients3 with Payments or

franchise to clients 90%+ Markets relationship

Fund growth Capital Markets

Senior bankers4 across 220+
Bankers with deep client
Optimize payments
Advisory
relationships 3,800+ cities; ~900 MDs averaging 15+
years overall tenure at JPM
Manage liquidity Expand
internationally
Best Bank globally for Corporate
Industry-leading client
experience #1 Cash Management and
Corporate Banking5

For footnoted information, refer to slide 40

15
GLOBAL BANKING

Our client-centric strategy has delivered strong financial performance, and there are further
opportunities to grow
FINANCIAL PERFORMANCE

BANKING & PAYMENTS REVENUES ($B) INVESTMENT BANKING FEES ($B) AVERAGE LOANS5 ($B)
+20% Market share4 +27%
(2024)
~$350
5Y CAGR3 ~$280
$3.3 9.3%
$35.31
+40bps vs 2019
M&A $2.4

$9.6 ▲ 3.9% $1.7 11.0% 2019 2024

ECM $1.7 +150bps vs 2019
AVERAGE DEPOSITS6 ($B)
$23.41
$7.5 ▲ 8.2% 8.4% +57%
Investment $4.1
$8.0 DCM $3.6 (20bps) vs 2019 ~$760
Banking
~$480
Lending $5.0 2019 2024
Market
8.9% 9.2%
$18.12 ▲ 11.8% share
2019 2024
M&A #2 #1
#1 #1
Payments $10.3 1st time in a
ECM #1 #1 calendar year
(2024) U.S. Multifamily lender U.S. Middle Market
2019 2024
DCM #1 #1 for over a decade7 syndicated lender8

For footnoted information, refer to slide 41

16
GLOBAL BANKING

We continue to focus on expanding our client franchise through targeted growth initiatives
FACTORS IMPACTING THE BUSINESS KEY FOCUS AREAS

Deepen with our existing clients, and expand our client franchise with prospects to become
their primary bank

Market uncertainty poses the possibility of

downward pressure on 2025 wallet
Grow Investment Banking wallet share at a sub-sector level, particularly across the prioritized
16 sub-sectors

Competition from private credit, especially as Be the leading bank for Financial Sponsors and Innovation Economy ecosystems by providing
market volatility rises and new deal volume specialized, end-to-end coverage to all the constituents through all stages of their lifecycle
slows down

Further strengthen Global Banking partnership with Markets and Payments to deliver differentiated
solutions to clients
Continued focus on efficiency and technology
to drive the business and client experience
Invest in our talent through targeted recruiting, individualized development focused on skills of
the future

War for top talent across traditional banking

peers, boutiques and asset managers Harness the power of data, business intelligence and sales enablement to drive productivity and
efficiency

17
Maintaining risk discipline across our lending portfolio and closely monitoring evolving market conditions

Robust risk culture Rigorous underwriting standards Dynamic portfolio management Continuous stress testing

C&I AND OTHER EXPOSURE COMMERCIAL REAL ESTATE KEY RISK FACTORS
BY INDUSTRY1 EXPOSURE BY PROPERTY TYPE2

4%
15% 16%
18% Global and US recession
10% 6%

~$800B1 8% ~$200B2
9% 61%
18%
9% Higher interest rates for longer
8%
3%
7% 4%
4%

62% of exposure is rated investment grade3 69% of exposure is rated investment grade3

C&I Additional Federal funding, regulation and trade

Consumer & Retail Financial Institutions Multifamily Office Other
uncertainty
Tech, Media & Telecom Industrial Retail
Industrials Other Industries (primarily
SPVs)
Healthcare
Oil & Gas Govt. & Agencies
Utilities
Geopolitical tensions
Automotive
Other C&I

Note: Metrics are as of March-2025 unless otherwise noted. For footnoted information, refer to slide 41
18
Private Credit: We are committed to meeting the financing needs of our borrower and investor clients
through tailored, product-agnostic solutions

Client-centric and solutions-driven approach Key highlights

Product-agnostic, solution- $50B JPM Direct Lending

driven and through-the-cycle balance sheet
Access to approach across various
Simple, certain
execution
unmatched deal types commitment1
origination

~$13B deployed to
Leveraging deep and
Sponsor and Corporate
Complete Diverse collaborative relationships to clients across 140+
financing financing
offering
drive value for both borrower and Direct Lending deals
product set
investor clients
closed

Robust underwriting and risk

Commitments Bespoke

~$15B Capital committed by 1

structuring management capabilities,
at scale
capabilities underpinning our solutions
our co-lending partners

1 Announcement as of 2/24/25
19
We have a world-leading Payments franchise serving a wide range of clients

We serve clients of different sizes and industries across the world, providing them with a breadth of Payments solutions tailored to their unique needs

Government
Mid and Large Commercial Institutional Global and
Start Ups Middle Market and Public
Corporates Real Estate Investors Regional Banks
Sector

KEY 2024 METRICS

Revenue1 Average deposits

$18.4B ~$760B 20 of 20 #1
Largest global companies are In U.S.
1% 6% our Payments clients2 Middle Market3
vs. 2023 vs. 2023

With the goal to be their #1 primary operating bank

1 Excludes the net impact of equity investments

2 Source: Companiesmarketcap.com, by market capitalization, as of April 16th, 2025
3 Coalition Greenwich 2024 Market Tracking Study. Rank based on the JPM Middle Markets Target Market with companies with annual revenue $20mm-$500mm

20
Payments drives value for businesses across the Firm

IMPORTANT SOURCE OF CRITICAL CONSISTENT, COST-EFFICIENCIES ENHANCED CLIENT

LIQUIDITY INFRASTRUCTURE RECURRING REVENUE OF IN-HOUSE PAYMENTS VALUE PROPOSITION
 Payment rails
~1/3rd  Sanctions screening
of Firmwide deposit funding
 Fraud services

SELECT EXAMPLES

Markets Securities Services Consumer & Community Banking Asset & Wealth Management

 Recurring cross-border FX revenue  Holistic offering for Securities Services  More efficient payments processing  In-house Payments sweep platforms
 Settlement services for trading clients with in-house Payments offering  Enhanced fraud and authorization rates  Partnership enabling Payments clients
 Leading digital asset capabilities  Operational savings to directly invest on Morgan Money

~$170mm ~$115T ~$7T ~$20T ~$175B

Average incremental FX revenue Securities Services CCB ACH volume CCB Wire volume Balances swept into AWM Money
driven by Payments each year1 payments volume processed2 processed3 processed3 Market Funds4

For footnoted information, refer to slide 41

21
Our Payments business is industry-leading and organized into five key segments

$10T+ #1
Treasury Services #1 Treasury Services1 Payments average daily USD SWIFT
value processed5 market share6

~$2.6T 6,000+
Merchant Services #1 U.S. Acquirer2 Annual global Peak transactions
processing volume7 per second8

40% ~150bps
Trade & Working Capital #7 Global Trade1 YoY Receivable Finance Global Trade Finance
revenue growth share gain since 20199

Embedded Finance & Best overall embedded Largest bank 100%+

Solutions
#1 finance platform3 with in-house pay-in, liquidity YoY Growth in Validation
and pay-out10 Services users

One of the

Digital Solutions #1 Digital Channels4 largest blockchain 300+

Tied Payment methods
networks globally on Access11

For footnoted information, refer to slide 42

22
Our comprehensive set of offerings amplify each other…

We offer a comprehensive set of solutions to meet the end-to-end needs of our clients

Treasury Services Trade & Working Capital Merchant Services Embedded Finance Digital Solutions

Typical Bank offerings

Typical Fintech offerings

Industry Integrated digital Single coverage Unified Global

specialization experience organization service team operations

23
…and power our unique, differentiated value to clients

Nearly 30-year relationship, supporting Over 20-year partnership to further enable

them as they’ve grown their global growth journey

Global liquidity optimization across brands Liquidity and cash management, including
 and geographies  enabling flows in 19 currencies

Streamlined and faster payment processing Geographic expansion enabled by our global
 through a unique ERP integration  payments infrastructure

Co-creation of a “connected treasury” tailored Defining modern treasury management with

 to Booking’s specific needs  cutting-edge solutions

24
The business continues to deliver strong performance, gaining scale and market share

STRONG FINANCIAL PERFORMANCE UNDERPINNED BY FEE AND DEPOSIT GROWTH DELIVERED GROWTH DESPITE RATE HEADWINDS

Payments revenue1 ($B) Fee revenue growth Payments revenue1 ($B)

NOT TO SCALE
Organic
growth
$18.4 $18.4
$18.3

$10.3

2019 2024 2019 2020 2021 2022 2023 2024

2023 Rate- Deposit- Fee- 2024
TS market share2 Average deposits ($B) related3 related related3

+350bps +$280
6.0% 9.5% ~$480 ~$760

For footnoted information, refer to slide 42

25
There are significant tailwinds that position Payments well to grow

GROWTH OF PAYMENTS AS CONSOLIDATION TOWARDS PAYMENTS IS INCREASINGLY

AN INDUSTRY THE LARGEST PLAYERS STRATEGIC FOR CLIENTS

Digital payment adoption is rapidly Clients favor banks that can meet Payments is increasingly vital
increasing across channels their global needs at scale to the customer journey

Digital wallet users globally

5.2B by 20261 Wallet share for top 10 banks4 Marketplaces

+10%

Growth in digital retail

90x payments in India over the
Commerce
last 12 years2

Growth in transactions on
7x Central Bank of Brazil’s Pix
Gig Economy
platform since 20213
2019 2024

For footnoted information, refer to slide 43

26
We are making targeted investments to capture growth opportunities across the business

Expanding
Leveraging Modernizing Investing Increasing
1 coverage to
cover more 2 our fortress
balance sheet
3 products and
platforms
4 in digital
innovation
5 global
presence
clients

27
 1

Covering more clients and building deep, lasting relationships through close coordination with Banking

TARGETING KEY GROWTH AREAS TO EXPAND OUR CLIENT FRANCHISE AND DEEPEN EXISTING RELATIONSHIPS

SELECT INDUSTRIES SELECT SEGMENTS

Technology Consumer and Retail Healthcare Services Middle Market International Mid-Cap Subsidiary Banking

EXPANDING COVERAGE WITH A COORDINATED APPROACH BETWEEN BANKING AND PAYMENTS

Increased banker headcount Across countries representing 95% of global GDP2 Strong Banking and Payments partnership

Total # of bankers1
 Coordinated, local leadership
~1,000+
 Aligned growth strategy

 Shared market intelligence and prospecting

 Increased brand awareness

 Optimized balance sheet deployment

2022 2023 2024

1 Bankers defined as front office coverage and select front office support roles across Global Banking and Payments, excludes GIB
2 JPM coverage based on countries with tagged client-level revenues; GDP data sourced from the International Monetary Fund

28
 3

Modernizing our platforms to win new business and drive efficiencies and operating leverage
MODERNIZATION AND PRODUCT ENHANCEMENTS INVESTMENT IMPACT

Treasury  Completed modern payments processing platform (Graphite) in 2024

Services  Completing development and deployment of enhanced global liquidity platform in early 2026
Drives revenue
growth

~100%
Merchant  Developing a full-stack commerce platform; live in U.S., E.U., Canada and Australia
Existing Payments
applications Services Fosters
 Growing value-added services (e.g., tokenization, fraud tools)
migrated to innovation
strategic data
centers and the
public cloud1 Trade &  Developing new, cloud-ready trade processing system
Working Strengthens client
Capital  Enabling clients to access JPM working capital products via their preferred ERP
experience

~25% Embedded  Developed a single, consolidated data lake

YoY reduction in Finance & Increases operating
incidents2 Solutions  Created an intelligent Trust & Safety platform to strengthen fraud protection
leverage

Digital  Enhancing digital end-to-end client UI / experience

Solutions Enhances stability
 Building developer tools to launch commerce use cases faster and resiliency

Our investment agenda is ongoing as we strive to provide market-leading solutions and experiences
1 Represents NAMR Payments production applications; as of Q1 2025
2 Priority one incidents with client impact, 2023 to 2024

29
 4

Innovation strategy centered on meeting evolving client needs and the changing Payments landscape

DIGITAL EXPERIENCES

We continue to be recognized for our best-in-class digital client Leading the industry with one of the most mature institutional
experiences… blockchain platforms

Kinexys Liink
#1 #1 #1 First-of-its-kind information exchange network for global payments
ecosystem, with leading cross-border payment validation solution
API Access and
J.P. Morgan Access®1 Chase Connect®1
Connectivity1

Kinexys Digital Payments

The future of treasury powered by blockchain-based 24/7
…and we remain committed to investing in experiences that clients will programmable payments
never outgrow

Kinexys Digital Assets

Platform enabling instant delivery versus payment exchange of
tokenized assets and commercial bank money

“One-stop- Progressive Flexible $1.9T >15x

Total transacted value since Increase in transaction
shop” experience connectivity Kinexys launch2 volumes YOY3

1 Coalition
Greenwich 2024 Digital Transformation Benchmarking
2 Asof Dec 2024
3 Dec 2024 vs. Dec 2023

30
 4

Unlocking the value of our data to drive value for the Firm and our clients

EXPANSIVE DATA REACH STRONG TOOLS AND GOVERNANCE​

Integrated
~400mm 60B+ 3rd Party
Accounts Global Transactions
Datasets Payments data lake AI and ML models Privacy and controls

ENABLE US TO LEVERAGE THIS DATA TO POWER SEVERAL USE CASES

Select examples

Client Experience Sales Enablement Operational Efficiency

 Cashflow forecasting and business optimization  AI-driven lead generation  Automated sanction screening

 Expedited onboarding  Data-driven solutioning  Servicing and workflow automation

 Fraud prevention and detection  Intelligent CRM capabilities  Enhanced quality control

Win rate Client satisfaction Revenue Banker productivity Cost Risk

31
 5

Modernizing our current footprint and expanding into new markets to better serve clients

EXPANSION OPPORTUNITY MODERNIZING AND ENHANCING CURRENT FOOTPRINT

Select example: Mexico

Client growth Transaction growth

 Developed a more comprehensive product suite ~2x ~9x

Deepen relationships
with existing clients  Formed strategic partnerships to strengthen our client value

 Scaled business with a modern technology stack

2021 2024 2021 2024

Win business with new clients EXPANDING INTO NEW MARKETS

seeking full regional solutions

 Enabling a more holistic Payments offering and seamless experience

United Arab Emirates
Launched in 2025
 Unlocking additional opportunity, furthering our growth potential

 Providing additional value for the Firm by laying the groundwork for
Enable Firmwide expansion other LOBs’ products in new markets Shanghai Free Trade Zone (FTU)
through payments infrastructure Upcoming

32
Well-positioned for the long term

 Support clients across the continuum with market-leading offerings

 Combined scale, trust and safety of a leading bank with the innovation of a Fintech

 Modern, digitally innovative platforms and solutions to capture opportunity

 Strong financial performance, underpinned by organic growth and recurring revenue streams

 Disciplined investment to position us for continued growth in the long-term

33
Commercial & Investment Bank – executing a proven strategy

PAYMENTS Client-centric

Investing for growth

GLOBAL SECURITIES
BANKING SERVICES Innovating to extend competitive advantage

Diversified and resilient revenue base

MARKETS
Strong risk discipline

COMPLETE GLOBAL & LOCAL DIVERSIFIED AT SCALE

EXCEPTIONAL TALENT & CULTURE

34
Notes on market share, ranks, industry wallets and client coverage

1. Coalition Greenwich Competitor Analytics. Based on JPMorganChase internal business structure and internal revenue. Excludes the impact of Archegos in 2021

Historical Coalition Greenwich competitor revenue and industry wallets have been rebased to ensure consistent taxonomy and accounting/structural adjustments

Market share reflects share of the overall industry product pool, unless noted that share reflects share of Coalition Index Banks

Rank reflects JPMorganChase rank amongst Coalition Index Banks as follows:

– Total CIB and Markets: BAC, BARC, BNPP, CITI, DB, GS, HSBC, MS, SG, UBS, WFC and JPM

– Treasury Services and Trade Finance: BAC, BNPP, CITI, DB, HSBC, SG, SANT, SCB, WFC and JPM

– Securities Services: BAC, BBH, BNPP, BNY, CITI, DB, HSBC, NT, RBC, SG, SCB, SS and JPM

2. Dealogic as of April 1, 2025 (unless otherwise noted) for GIB, ECM, DCM, and M&A rank, market share and industry wallet. ECM excludes shelf deals. DCM includes all bonds, loans, and other debt (i.e., securitizations
and frequent borrowers), excluding money market and short-term debt. Excludes impact of UBS/Credit Suisse merger prior to the year of the acquisition (2023)

3. Market share changes are rounded to the nearest 10bps

4. Global Banking is a client coverage view within the Banking & Payments business and is comprised of Global Corporate Banking, Global Investment Banking and Commercial Banking client coverage segments

35
Notes on non-GAAP financial measures

1. The Commercial & Investment Bank (CIB) provides certain non-GAAP financial measures. These measures should be viewed in addition to, and not as a substitute for, the CIB’s reported results. The non-GAAP financial
measures on slides 5 and 6 exclude the impact of legal expense. Adjusted ROE on slide 5 is calculated as net income after preferred stock costs excluding the impact of legal expense divided by average equity. CIB
average equity was $102B, $102B, $107B, $128B, $138B, and $132B for 2019, 2020, 2021, 2022, 2023, and 2024, respectively. The table below provides a reconciliation of reported results to these non-GAAP financial
measures

Reconciliation of reported to adjusted results excluding the impact of legal expense

Commercial & Investment Bank

Year ended December 31,
(in millions, except where otherwise noted) 2019 2020 2021 2022 2023 2024

(1) Revenue Reported/ Adjusted $ 48,701 $ 58,764 $ 61,951 $ 59,635 $ 64,353 $ 70,114

(2) Expense Reported $ 26,397 $ 27,571 $ 29,594 $ 32,069 $ 33,972 $ 35,353

.
Adjustments:
Legal Expenses $ (382) $ (797) $ (253) $ (123) $ (690) $ (212)
Adjusted $ 26,015 $ 26,775 $ 29,341 $ 31,946 $ 33,282 $ 35,141

(3) Net Income Reported $ 15,877 $ 19,621 $ 26,353 $ 19,138 $ 20,272 $ 24,846

Adjustments:
Legal Expenses $ 348 $ 733 $ 226 $ 90 $ 632 $ 122
Adjusted $ 16,225 $ 20,354 $ 26,579 $ 19,228 $ 20,904 $ 24,967

(4) ROE Reported 15% 18% 24% 14% 14% 18%

Adjusted 15% 19% 24% 14% 15% 18%

36
Notes on slides 2-3

Slide 2 - The combined Commercial & Investment Bank is built around our clients

1. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase internal business
structure, footprint and revenue. Ranks are based on Coalition Index Banks for Treasury Services

2. Coalition Greenwich 2024 Market Tracking Study. Rank based on the JPM Middle Markets Target Market with companies with annual revenue $20mm-$500mm

3. Dealogic. For additional information see note 2 on slide 35

4. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Markets

5. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Securities Services. Securities
Services exclude Corporate Trust, Escrow Services, Clearing & Settlement

For additional information related to footnotes 1, 4, and 5 see note 1 on slide 35

Slide 3 - Our franchise strength is a key differentiator and provides unmatched value

1. Coalition Greenwich 2024 Market Tracking Study (Notional - $20mm-$500mm). Share based on the Bank’s MMBSI Target Market with companies with annual revenue $20mm-$500mm

2. Coalition Greenwich Competitor Analytics (all ranks excluding GIB, ECM, DCM, and M&A) and Dealogic (GIB, ECM, DCM, and M&A ranks). Includes co-ranked positions as defined by Coalition Greenwich. Market share
for Treasury Services, Trade Finance, Markets sub-products (G10 Rates, G10 FX, EM Macro, EM Credit, Commodities, G10 Credit, SPG, Public Finance, G10 Financing, Cash Equities, Equity Derivatives, Prime
Brokerage, and Futures) is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Treasury Services, Trade Finance, and Markets sub-products. For
additional information see note 1 and 2 on slide 35

3. Count of ultimate parent clients with a CIB-owned relationship and non-zero revenue over 24 months rolling as of 03/2025

4. Trades settled daily on average over the course of 2024 includes for Markets trade settlement activity reported in USD for Securities, Derivatives, and FX (excludes Futures & Options and Securities Services). FX reported
pre-netting

5. Based on regulatory reporting guidelines prescribed by the Federal Reserve for U.S. Title 1 planning purposes; includes internal settlements, global payments to and through third-party processors and banks, and other
internal transfers

37
Notes on slides 7-8

Slide 7 - Our investments are focused on delivering business value

1. The CAGR and YoY calculations use actual, not rounded, numbers

2. Front Office-related growth statistics represent 2024 vs. 2019

3. Includes retired / replaced applications

4. KYC unit cost is based on comparison of Full Year volumes and expenses for 2024 vs 2022

5. Peak volumes refer to highest cash equities volumes observed in 2019 on 3rd June and in 2025 on 7th April

Slide 8 – Executing a multi-faceted growth agenda powered by our connected businesses

1. 2024 global VC investment rises to $368 billion as investor interest in AI soars, while IPO optimism grows for 2025 according to KPMG Private Enterprise’s Venture Pulse – KPMG (January 2025)

2. Preqin; As of September 2024

3. PitchBook: 2029 Private Market Horizons; as of April 2025

4. FXC Intelligence: How big is the cross-border payments market? (January 2025)

5. The UN agency for digital technologies (January 2025)

6. Emerging Markets: A Decisive Decade - S&P (September 2024)

38
Notes on slides 10-12

Slide 10 - We have strong financial performance driven by our scale

1. 2019 and 2024 revenue excludes discontinued business

2. The CAGR calculations use actual, not rounded, numbers

3. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Securities Services. For additional
information see note 1 on slide 35

4. All metrics denote change from 2019-2024

5. Represents operations cost

6. For the Securities Lending business

Slide 12 - We are the top Markets franchise, rooted in client-centricity and sound risk discipline

1. Extel Rank (2024)

2. Based on JPMorganChase internal metrics

3. Coalition Greenwich Competitor Analytics. Ranks are based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Markets sub-products (G10 Rates, G10
FX, EM Macro, EM Credit, Commodities, G10 Credit, SPG, Public Finance, G10 Financing, Cash Equities, Equity Derivatives, Prime Brokerage, and Futures)

4. Financing revenues for 2019 and 2024 are based on internal management metrics

5. Trades settled daily on average in 2025 peak represent the highest volume week of 2025. Includes Markets trade settlement activity reported in USD for Securities, Derivatives, and FX (excludes Futures & Options and
Securities Services). FX reported pre-netting

6. Coalition Greenwich Institutional Client Analytics. Institutional Wallet based on 2,189 clients in 2024

7. Coalition Greenwich Competitor Analytics. Regional rank for Americas, EMEA and APAC. Americas reflects North America and Latin America. Ranks are based on JPMorganChase internal business structure, footprint
and revenue and reflects Coalition Index Banks for Markets

For additional information related to footnotes 3, 6, and 7 see note 1 on slide 35

39
Notes on slides 13-15

Slide 13 – Despite our industry-leading position, further opportunities remain

1. JPM revenue as reported​

2. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Markets. For additional information
see note 1 on slide 35

3. The CAGR calculations use actual, not rounded, numbers

4. Coalition Greenwich Institutional Client Analytics. “Large, Mid-Size and Small Institutional Clients” is a JPM only categorization based on share of wallet, product penetration and revenue metrics. Wallet is based on 1,650
clients in 2019 and 2,189 clients in FY24

5. Coalition Greenwich Corporate Client Analytics. Share of Corporate clients is calculated as the wallet of Top 2,000 clients in 2019 and 2024 across FICC products

Slide 15 – We are focused on serving Global Banking clients across the spectrum with broad-based capabilities

1. Count of client entities at ultimate parent level or affiliate level with GB-owned relationship and different revenue thresholds across client segments as of Dec 31, 2024. Excludes Payments only clients with no Commercial
Banking and Global Corporate Banking coverage.

2. Emerging Middle Market

3. Ex-CRE

4. Senior banker includes VP+. CB includes bankers and TS, GCB includes bankers only

5. Coalition Greenwich Voice of Client – 2024 Global Corporate Banking and Cash management Studies

40
Notes on slide 16-21

Slide 16 – Our client-centric strategy has delivered strong financial performance, and there are further opportunities to grow

1. Totals include $0.1B in Other revenues in 2019 and 2024

2. $18.1B includes ~$1B of Payments revenue through clients not covered by GB, Payments revenue includes ~($0.3B) in net equity investments. Excluding the impact of net equity investments, the Payments revenue
would be $18.4B

3. The CAGR and absolute growth calculations use actual, not rounded, numbers

4. Dealogic. For additional information see note 2 on slide 35

5. Loans includes Banking and Payments

6. Deposits includes Banking and Payments

7. S&P Global Market Intelligence as of December 31, 2024

8. LSEG – U.S. Overall Middle Market Bookrunner, 2024

Slide 18 – Maintaining risk discipline across our lending portfolio and closely monitoring evolving market conditions

1. Commercial & Industrial (“C&I”) and Other is defined based on the client’s primary business activity, and differs from Commercial & Industrial and Other loan class definitions presented in the 10Q/K, which is based on the
loan’s collateral, purpose, and type of borrower. Exposure includes retained loans and lending-related commitments (LRC), as of March ’25

2. Commercial Real Estate is defined based on the client’s primary business activity, and includes secured by real estate, secured by non-real estate, and unsecured exposure. Exposure includes retained loans and lending-
related commitments (LRC), as of March ’25 and excludes ~$6B of non-CIB CRE exposure

3. Defined per internal facility risk ratings which take into consideration collateral and structural support

Slide 21 – Payments drives value for businesses across the Firm

1. Average incremental FX revenue driven by Payments from 2022-2024

2. FY24 volumes

3. FY24 volumes; based on firmwide data using regulatory reporting guidelines prescribed by the Federal Reserve for US Title 1 planning purposes; includes internal settlements, global payments to and through third-party
processors and banks, and other internal transfers

4. Average balances for Dec 2024

41
Notes on slides 22-25

Slide 22 – Our Payments business is industry-leading and organized into five key segments

1. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services and Trade Finance business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase
internal business structure, footprint and revenue. Ranks are based on Coalition Index Banks for Treasury Services and Trade Finance

2. Source: Nilson report issue 1282 (March 2025), by purchase volume and transaction count

3. Source: Tearsheet, The Big Bank Theory Awards, 2024

4. Coalition Greenwich 2024 Digital Transformation Benchmarking

5. Based on firmwide data using regulatory reporting guidelines prescribed by the Federal Reserve for US Title 1 planning purposes; includes internal settlements, global payments to and through third-party processors and
banks, and other internal transfers

6. By volume; represents US dollar payment instructions for direct payments and credit transfers processed over Society for Worldwide Interbank Financial Telecommunications (SWIFT) in the countries where J.P. Morgan
has sales coverage. Market Share is based on Dec’ 2024

7. Based on internal analysis of settled sales volume in 2024

8. Represents daily volume reports from internal systems

9. Coalition Greenwich Competitor Analytics reflects global firmwide Trade Finance business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase internal business
structure, footprint and revenue. Ranks are based on Coalition Index Banks for Trade Finance

10. Largest bank by market capitalization, as of 4/28/2025

11. Unique permutations of pay types by market available via JPM Access

For additional information related to footnotes 1 and 9 see note 1 on slide 35

Slide 25 – The business continues to deliver strong performance, gaining scale and market share

1. Excludes the net impact of equity investments

2. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase internal business
structure, footprint and revenue. Ranks are based on Coalition Index Banks for Treasury Services. For additional information see note 1 on slide 35

3. Represents growth in fees excluding the impact of credits earned by Commercial & Investment Bank clients on balances held in non-interest bearing deposit accounts. The credits earned can be used to offset fees for
payments services (e.g. ACH, Fed wire, lockbox). Management reviews fees excluding the impact of client credits to analyze performance independent of the impacts from changes to deposit balances and interest rates.
The credits earned have reduced the rates-related growth noted in the Payments revenue chart
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Notes on slide 26

Slide 26 – There are significant tailwinds that position Payments well to grow

1. Source: EY Global Embedded Finance Report, 2023

2. Source: Reserve Bank of India, 2024

3. Source: The Economist; 2025

4. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase internal business
structure, footprint and revenue. Ranks are based on Coalition Index Banks for Treasury Services. For additional information see note 1 on slide 35

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