JPMorgan Chase & Co.

Dimon added: “The U.S. economy has demonstrated notable resiliency this year, with stronger business investment and hiring. This strength is being supported by several tailwinds, including AI-driven capital investment, fiscal stimulus and the benefits of more efficient regulation. However, several risks are shifting below the surface like tectonic plates, including geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices. We cannot predict how these forces will ultimately play out. They may remain manageable, but they could also cause meaningful disruptions when they shift or collide. We carefully monitor these risks and prepare the Firm for a wide range of scenarios to ensure that we can serve our customers and clients consistently in all environments.”

Dimon added: "The U.S. economy remained resilient in the quarter, with consumers still earning and spending and businesses still healthy. Several tailwinds are supporting this resiliency, including increased fiscal stimulus, the benefits of deregulation, AI-driven capital investment and the Fed's asset purchases. At the same time, there is an increasingly complex set of risks—such as geopolitical tensions and wars, energy price volatility, trade uncertainty, large global fiscal deficits and elevated asset prices. While we cannot predict how these risks and uncertainties will ultimately play out, they are significant and they reinforce why we prepare the Firm for a wide range of environments.”

Performance remains strong, but we are not complacent. Our focus is on profitable, sustainable growth and building for the future For footnoted information, refer to slide 24 UNWAVERING COMMITMENT TO INVESTING IN FUTURE GROWTH & PERFORMANCE $108 $19 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 10% compound annual growth rate since 2006 > 2x peers6 TBVPS4 ($) $186B Revenue1 10th consecutive year of growth 51% Adj. overhead ratio1,2 -1ppt YoY3 $57B Net Income +8% YoY3, EPS +12% YoY3 2025 20% ROTCE4 8th year ≥ 17%5 ANOTHER YEAR OF LEADING PERFORMANCE Macro backdrop currently supportive Unemployment remains low Common-sense regulatory capital changes Competition is intensifying Inflation persists Geopolitical risks Softening labor market Elevated asset prices ⚫ Enhancing scale ⚫ Growing market share ⚫ Geographic expansion ⚫ Bankers, advisors and branches GROWTH ⚫ Productivity ⚫ Reimagining processes ⚫ Serving customers and clients even better TECH & AI ⚫ Security and Resiliency Initiative (SRI) ⚫ Community investments ⚫ Community centers and branches ⚫ Global offices and campuses COMMUNITIES 10-year total return ~1.5x peers6 Global fiscal deficits LOOKING AHEAD TO 2026, WE ARE CAUTIOUSLY OPTIMISTIC 5

$1,339 $1,461 4Q24 4Q25 $2,417 $2,565 4Q24 4Q25 We continue to expect ~$95B of NII ex. Markets for 2026 For footnoted information, refer to slide 24 CCB AWM 2026 outlook assumptions CCB AWM 2026 outlook assumptions CIB CIB Card Services >6% Card loan growth Modest growth in BWM and Auto Continued decline in Home Lending CCB Expect continuation of trends (M&A activity, infrastructure and AI spending) to support loan growth CIB4 Continued growth from securities-based lending and subscription finance AWM Modest deposit growth driven by net new account growth and continued normalization of yield-seeking flows CCB Continued growth in Payments and Securities Services CIB Expect normalization of yield-seeking flows and migration to investments AWM AVERAGE LOANS ($B) AVERAGE DEPOSITS ($B) Corp. International consumer deposit growth Corp. NII ex. Markets1 $92.6B 2025 ($2.0B) Rates / margin2: Average IORB3 declines 83bps YoY $4.5B Balance sheet growth / mix ~$95B 2026 Markets NII $3.3B ~$9.5B Firmwide NII $95.9B ~$104.5B 6

2025 YoY Change Accounts per Ops FTE1,2 Cash equities cost per trade6 Screened transactions per FTE2,5 Coding efficiency improvements from AI Focusing on extracting efficiencies drives Firmwide discipline, is supported by our ongoing investments – and allows us to continue to grow productivity and profitability For footnoted information, refer to slide 25 …AND CONTINUING TO DELIVER STRONG PPNR GROWTH 5-year change in PPNR7 ($B) 7 $63 $34 ($29) Revenue Expense PPNR 5-year CAGR 9% 7% 10% 7 29% 2025 YoY Headcount +4% Revenue-producing & front office support (4%)Operations (2%)Support ~0%Total employees LIVING WITHIN OUR MEANS… +1%Technology …WHILE INCREASING PRODUCTIVITY… Unit cost of fraud1,3 Processing cost per account1,4 11% 4% 19% >10% 6% 11

$8.2 $8.8 $2.2 $0.6 ⚫ Products, Platforms, Features, Capabilities ⚫ Business apps & geographic expansion ⚫ Customer & client experience ⚫ Blockchain ⚫ AI & ML 2026 technology expense growth mainly driven by products, platforms, features and capabilities Totals may not sum due to rounding ⚫ Labor: compensation, benefits ⚫ Hardware: AI-related shortages, chips, memory ⚫ Software contracts ⚫ Real estate ⚫ Infrastructure: public cloud ⚫ Software: higher volumes ⚫ ~25% AI-related ⚫ Infrastructure $1.9B Investments 2026 TECHNOLOGY EXPENSE OUTLOOK ($B) ~$19.8B /10% YoY $1.9B YoY $9.2B total in 2026 $1.2 $0.4 $0.8 ($0.6) Efficiencies YEAR OVER YEAR GROWTH Modernization / non-discretionary flat YoY CIB CCB AWM Corp. 12

Investments in data & technology are delivering benefits from AI, which will ultimately accrue to our customers and clients Leveraging our modernized data and technology infrastructure AI will deepen our competitive strengthsContinued growth of AI benefits1 of applications run their processing largely on modern infrastructure ~80%+ of applications run their processing largely in the public or private cloud ~70%+~+5% YoY ~+5% YoY Expand client coverage while streamlining middle- and back- office processes Our extensive data estate is a strategic differentiator Improve client experience and provide new value propositions AI solutions in production doubled in 2025 Revenue is the largest contributor to benefits GenAI represents the fastest growing segment of AI solutions, consistent with investment focus Modern data centers Cloud infrastructure Connecting our data together For footnoted information, refer to slide 25 13

-2% 0% 2% 4% 6% 8% 10% '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Credit continues to perform well, yet we remain alert Net charge-off (NCO) rate (%) Card Services Total Consumer 2026 CARD NCO FORECAST ~3.4% Favorable delinquency trends driven by continued consumer resilience Assumptions underlying 2026 Card NCO rate Stable economic environment Wholesale Allowance for loan losses (%) 0% 5% 10% 15% '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Card Services1 Total Consumer1 Wholesale Reserve established in 4Q25. Allowance will be remeasured quarterly Subprime % of portfolio not expected to materially change pro forma Apple Card While higher income spend growth has recently outpaced lower income, lower income consumers continue to spend at a solid pace and remain resilient K-shaped economy? Closely monitoring higher risk segmentsSoftware Active in financing AI expansion, but selective Continuing to evolve risk monitoring and frameworks to capture distinct concentration, interconnection and AI disruption risks across the portfolio AI ecosystem Unemployment rate around current levels of mid 4% Adoption of CECL 1/1/2020 Select credit topics For footnoted information, refer to slide 25 14

2025 Medium-term We are positioned to deliver strong returns across a range of macroeconomic conditions For footnoted information, refer to slide 26 ILLUSTRATIVE ROTCE1 PATH BY SCENARIO Scenarios All scenarios include key business driver sensitivities and a range of reasonable capital outcomes Front-end rates Inflation Growth assumptions Shallow, delayed recession 5+ cuts in 2026 Persistent Moderate, immediate recession Gradually cut below LT rate levels Abating Resilient soft landing 2-3 cuts in 2026 Abating Expansionary Higher for longer Near-term increase, abating 17% Through-the-cycle target 20% Deep, early recession Cut below LT rate in 2026 Near-term increase, abating Interest rates and deposit pricing Credit Inflation Labor market Trade policy and geopolitical risks Loan and deposit growth Tech and AI disruption Market and asset price volatility VARIOUS RISKS AND UNCERTAINTIES 17

Notes on slides 9-14 Slide 9 – Our leading Markets franchise is positioned for further growth opportunities 1. JPM Revenue is as reported 2. See slide 3 footnote #11 Slide 10 – 2026 expense outlook of ~$105B 1. See note 4 on slide 21 2. Ex. FDIC special assessment accrual release of ($763mm) in 2025 3. Global Banking (“GB”). GB is a client coverage view within the Banking & Payments business and is comprised of the Global Corporate Banking (“GCB”), Global Investment Banking (“GIB”) and Commercial Banking (“CB”) client coverage segments. Senior banker includes VP+. CB includes bankers and Treasury Management Officers, GCB and GIB include bankers only 4. Corporate is excluded from “Real estate and other” as amounts are immaterial Slide 11 – Focusing on extracting efficiencies drives Firmwide discipline, is supported by our ongoing investments – and allows us to continue to grow productivity and profitability 1. Associated with CCB 2. FTE refers to full-time employees 3. Represents total fraud-related losses and direct expenses, measured in cents per $100 in sales volume 4. Includes all core operations direct expense related to processing statements and payments for the Firm 5. Screened transactions per FTE is based on a comparison of total annual screened transactions and related FTEs (12-month average) in Payments 6. Cash equities unit cost is based on a comparison of full-year volumes and CIB Technology and Operations allocated expenses 7. Pre-provision net revenue on a managed basis. See note 1 on slide 21 for additional information Slide 13 – Investments in data & technology are delivering benefits from AI, which will ultimately accrue to our customers and clients 1. Benefits from AI include estimated growth in revenue, cost reduction and savings from risk reduction, such as fraud, that are directly attributable to AI initiatives Slide 14 – Credit continues to perform well, yet we remain alert 1. The Apple Card acquisition is recorded for 2025 as an allowance for lending related commitments, and therefore does not impact Allowance for Loan Losses for Card Services 25

Data, privacy, cybersecurity and artificial intelligence regulation:

The Firm and its subsidiaries are subject to laws, rules and regulations globally concerning data, including data protection, consumer protection, privacy, cybersecurity, artificial intelligence and related matters. These laws, rules and regulations are constantly evolving, subject to interpretation, remain a focus of regulators globally, may be enforced by private parties or government bodies, and continue to have a significant impact on all of the Firm’s businesses and operations.

JPMorganChase supports the professional development and career growth of its employees. The Firm offers voluntary training programs and educational resources to all employees covering a broad variety of topics such as leadership and management, artificial intelligence, data literacy and operational and professional skills. Leadership Edge, the Firm’s global leadership and management development center of excellence, is focused on creating one Firmwide leadership culture. In addition, the Firm requires that its employees, including new hires, complete a training curriculum that covers, among other topics, information concerning Firm policies and standards.

•technological advances such as artificial intelligence (“AI”) and quantum computing that may enable malicious actors to develop more advanced social engineering attacks, including targeted phishing attacks, and

•appropriately balance workforce planning and training as new technologies, such as AI, are adopted and integrated, or

Furthermore, both financial institutions and their non-banking competitors face the risk of disruption to payments processing and other products and services from the use of new technologies that may not require intermediation, such as tokenized securities or other products that leverage distributed ledger technology. New technologies have required and could require JPMorganChase to increase expenditures to modify its products to attract and retain clients and customers or to match products and services offered by its competitors, including technology companies. If JPMorganChase does not keep pace with rapidly changing technological advances, including the adoption of generative AI, it risks losing clients and market share to competitors, which could negatively impact revenues, operating costs and its competitive position. Competition could be intensified as the feasibility, capability and scalability of new technologies improves. In addition, new technologies (including generative AI) could be used by customers or bad actors in unexpected or disruptive ways, or could be breached or infiltrated by third parties, which could increase JPMorganChase’s compliance expenses and reduce its income related to the offering of products and services through those technologies.

JPMorganChase’s operations, results, and competitive standing could be adversely affected by the development of advanced technologies such as AI.

The rapid development and deployment of advanced technologies, including generative and agentic AI systems, present a range of risks to JPMorganChase’s businesses and operations, including:

•AI system failures, inappropriate use of AI systems, lack of transparency in AI systems, or inaccurate or biased output from AI systems resulting from rapid deployment, insufficient testing, erroneous data, ineffective model design or insufficient controls, which could disrupt operations, cause erroneous transactions, compromise data privacy, infringe on intellectual property, harm clients and customers, or impair JPMorganChase’s ability to make sound business decisions

•increased exposure to cyber attacks, system manipulation, or data loss if AI systems, particularly agentic systems, are not designed and implemented with appropriate safeguards to prevent systems from accessing sensitive data sources or system resources and taking actions

•intensified AI-enabled cyber threats, which may allow malicious actors to exploit vulnerabilities, reverse-engineer security patches, and conduct sophisticated social engineering attacks, potentially resulting in unauthorized access to sensitive information and data breaches, especially if JPMorganChase fails to adequately maintain, secure and upgrade its technological infrastructure in response to rapidly evolving technological advances

•regulatory and compliance challenges arising from rapidly evolving applicable law, including differences, inconsistencies and conflicts in international standards, which could increase costs, lead to fines and sanctions, and restrict JPMorganChase’s use of AI technologies

•competitive disadvantage if competitors are able to deploy AI more quickly or effectively, potentially gaining advantages in cost efficiency, client and customer experience, or product innovation, which could result in a loss of market share to competitors, or

•replacement or disintermediation of direct customer relationships if AI agents autonomously manage or intermediate financial decisions and product selection or other services for customers.

It is also possible that JPMorganChase could miscalibrate its workforce planning and employee training efforts either because of over-reliance on AI or the failure to appropriately adopt AI. Over-reliance on AI could cause JPMorganChase to experience shortages in qualified staff due to reduced hiring or retention of employees, or could hinder the development or enhancement of important skills among its employees, including critical thinking, problem-solving, judgment, creativity and adaptability. On the other hand, any efficiencies or competitive advantages that AI may offer could be squandered if JPMorganChase fails to adopt AI in a timely and judicious manner and to make related adjustments to its workforce.

•inaccurate or misleading information about JPMorganChase or its clients, including results generated by AI, that is rapidly and broadly disseminated through any form of media, including social networking sites, and

Advances in technology, such as automation, AI and data science, could lead to workforce displacement. This could require JPMorganChase to invest in additional employee training, manage impacts on morale and retention, and compete for employment candidates who possess more advanced technological skills, all of which could have a negative impact on JPMorganChase’s business and operations.

The Firm has experienced, and expects that it will continue to experience, a higher volume and complexity of cyber attacks against the backdrop of heightened geopolitical tensions and emerging technologies that can be leveraged by attackers, including artificial intelligence. The Firm has implemented measures and controls reasonably designed to address this evolving environment, including enhanced threat monitoring. In addition, the Firm continues to review and enhance its capabilities to address associated risks, such as those relating to the management of administrative access to systems.

The Firm uses models and other analytical and judgment-based estimations, including those based upon machine learning or artificial intelligence techniques, across various businesses and functions. The estimation methods are of varying levels of sophistication and are used for many purposes, such as the valuation of positions and measurement of risk, assessing regulatory capital requirements, conducting stress testing, evaluating the allowance for credit losses and making business decisions. A dedicated independent function, Model Risk Governance and Review (“MRGR”), defines and governs the Firm’s policies relating to the management of model risk and risks associated with certain analytical and judgment-based estimations, such as those used in risk management, budget forecasting and capital planning and analysis.

$86 $16 $19 $22 $23 $27 $30 $34 $39 $41 $45 $48 $51 $54 $56 $61 $66 $72 $73 $97 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 10% compound annual growth rate since 2005 …which has led to strong absolute and relative performance over the last decade TBVPS1 ($) STRONG TRACK RECORD OF PERFORMANCE AND GROWTH 2x peers2 20% ROTCE1 $173B Revenue4 9th consecutive year of growth 52% Adj. overhead ratio4,5 -1ppts YoY $53B Net Income +7% YoY AND THIS YEAR WAS NO EXCEPTION Complete Global At ScaleDiversified WE REMAIN FOCUSED ON THE FUTURE 2024 ex. Visa3 Technology & AI Growth Lean organization Continued excellence For footnoted information, refer to slide 21 4

(0%) (3%) (1%) 9%JPM 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… …WE SEE OPPORTUNITIES TO DIAL UP OUR FOCUS ON RUNNING A LEAN ORGANIZATION 5-year PPNR CAGR Employees ⚫ The Firm’s headcount has meaningfully increased over the last five years driven 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 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 Revenue Expense 5-year change in: $54B1 $11B ($4B) $6B $26B1 $12B ($4B) $11B BAC WFC C 2019 2020 2021 2022 2023 2024 Revenue producing3 Tech2 Operations Business support 257K 317K For footnoted information, refer to slide 21 ex. Visa1 8

Our investments in data & technology are delivering efficiencies and unlocking value from AI Leveraging our modernized data and technology infrastructure Modern data centers Cloud infrastructure Driving at-scale adoption and transformation with GenAI & agents Connecting our data together Software engineering Operations General productivity >200,000 users of LLM Suite ~100 GenAI solutions in production 40K+ engineers with AI coding assistants of applications run their processing largely on modern infrastructure ~80% of applications run their processing largely in the public or private cloud ~65%~50% last year ~75% last year Continued expansion of value from traditional machine learning Pricing and hedging Trading Detecting and preventing fraud Fraud management Automation and insights Operations Products and features tailored to the customer Customer personalization Optimizing and accelerating decisions Credit decisioning 10

Increased strategic momentum over the last 5 years 3% CAGR Total Customers1 (91mm, +3% YoY) 7% CAGR Multi-LOB Customers2 (26mm, +7% YoY) 6% CAGR Digital Active Customers3 (71mm, +6% YoY) 2% CAGR Branch Active Customers4 (41mm, +4% YoY) Record high Net Promoter Score5 (~65, +5pts) Record high Branch and Digital CSAT5 (>5pt gains in each) INVESTING TO DRIVE GROWTH, PRODUCTIVITY AND POSITION FOR THE FUTURE Best-in-class financial performance with >25% ROE on a reported and normalized basis16 GROWING, ENGAGING AND DEEPENING CUSTOMER RELATIONSHIPS EXTENDING OUR LEADERSHIP AND SCALING GROWTH BUSINESSES6 Growth Engagement Experience Industry-leading businesses Growth businesses +220bps Retail Deposit Share7 (11.3%, -10bps YoY) +30bps BB Primary Share8 (9.7% +20bps YoY) +90bps Card OS Share10 (17.3%, +60bps YoY) 2x vs. 2021 Commerce Volumes12 ($23B, +19% YoY) 2x Client Investment Assets11 ($1.1T, +14% YoY) >30% Reduction in critical tech incidents +35% Increase in value from AI / ML15 Tech, Data & AI +25% Customers per branch13 >25% Accounts per Ops FTE14 Productivity >2x Return on marketing investments <5yr Payback on strategic product & tech investments Returns on investments <4 yr Break-even on branches, bankers and advisors (2019-2024) (2019-2024) (2024) (vs. 2019) +110bps Card Sales Share9 (23.5%, +60bps YoY) (YoY) For footnoted information, refer to slide 48 4

$4.5 $8.5 ~$9 2.3 4.1 4.2 0.5 1.4 1.2 1.1 1.5 2.0 0.6 1.5 1.7 2019 2024 2025O >2 Return on investment with <5 year payback3 >30% Reduction in critical tech incidents ✓ Data center migration & data in cloud Technology & Product: Spend is moderating and delivering strong returns TECHNOLOGY & PRODUCT EXPENSE ($B) 5% Total accounts 7% Transactions 6% Digital logins Tech Modernization Product development +12% +2% +13% +21% +10% +10% 1 Key drivers ’19 - 24 24-’25O Core business drivers Wage inflation First Republic Integration Key drivers ’19-24 ’24-’25O Data center migration Application modernization Product & platform maintenance Tech production Modernization & low discretion investment Strategic Investment & Product, Design, Analytics More code deployments over last 2 years>70% Reduction in churn over last 2 years2~20% Increase in value from AI/ML YoY+35% KEY DRIVERS AND OUTCOME BY THEMATIC EXPENSE CATEGORIES 14% CAGR 6% YoY 2019-2024 CAGR Tech Investments Tech Production Product, Design & Analytics Org. Strategic investment Low discretion investment Modernization Product, Design & Analytics 20 5 outlook Note: Totals may not sum due to rounding For footnoted information, refer to slide 52 20

The scale of our data and our modernization strategy is fueling increasing value from AI / ML …WHILE REALIZING VALUE FROM AI AND PERSONALIZATION >91mm Customers Financial ~41mm credit profiles Interactions ~373B digital interactions Transactions ~27B credit & debit transactions Travel ~11mm trips booked Shopping ~18B Offers served Data assets Modernization area Progress Migrate analytical data to the public cloud1 Users consume data from the cloud Consolidate data to target platforms Make the right data ready for AI/ML and available in real-time 2023 2024 2025O Value driven by AI / ML2 Value drivers Fraud prevention Risk management Operations efficiency Coding productivity Cost & risk efficiencies Enhance credit strategies Pricing Marketing & sales optimization Personalization Revenue generationRevenue generation Cost & risk efficiencies WE ARE UNLOCKING THE POWER OF OUR DATA… +35% +65% 20 5 outlook For footnoted information, refer to slide 52 22

15.2% 16.4% 17.3% 20.0% 2014 2019 Drivers 2024 Drivers Target ~25% Focus on key segments and unlocking the power of data and distribution to fuel growth Banking Card Connected Commerce Wealth Management Home Lending Auto Making progress towards our long-term ambition to reach 20% share of outstandings +270bps Growth Segments, Marketing & Risk DRIVERS OF OUTSTANDINGS MARKET SHARE GAINS – ILLUSTRATIVE Sales share 21.2% 22.4% 23.5% 2 2 Ambition2 9 +100bps vs. ’22 +110bps vs. ’22 For footnoted information, refer to slide 55 Opportunity Opportunity MOMENTUM IN SEGMENTS WITH OUTSIZED OPPORTUNITY While being the overall market leader, we are not #1 within Affluent3 and SMB segments4 Continue to leverage data and AI/ML models to personalize offers and marketing Gen Z outstandings share +480bps SMB outstandings share +180bps CAGR in fee-based card accounts2 ~8% Starter Affluent SMB UNLOCKING THE POWER OF DATA AND DISTRIBUTION Growth Segments (vs. 2019) Marketing & Risk Growth in new account production (vs. 2019) +28% Revenue lift from AI/ML risk models (YoY) >3x Lift in accounts booked from prequalified offers5 +140% Adjustment for risk appetite1 (Reported share: 17.0%) +210bps +20bps/year +90bps 32

+31% Chase Auto has a path to continued growth Banking Card Connected Commerce Wealth Management Home Lending Auto While tariffs create uncertainty, lease & vintage mix normalization provides a medium-term path to reach our 17% ROE TTC target Consumers Dealers Manufacturers ~4mm consumers ~12K dealers in-network 6 Private Label partners 26% 16% 74% 84% 2019 1Q25 Lease Loan Balances Embedded opportunity to improve returns over time Lease mix normalization: Rebound in higher-return lease originations will drive portfolio mix closer to 2019 levels Loan vintage mix shift: Newer, higher-return vintages will replace higher-loss, COVID-impacted vintages of 2022-2023 WE DELIVER A HOLISTIC VALUE PROPOSITION FOR EACH OF OUR DISTINCT CLIENT SEGMENTS PORTFOLIO MIX SHIFT WILL IMPROVE RETURNS Scaled Finance & DriveSM to 13mm unique annual users; +16% YoY in engagement with high-value features (e.g., shopping for a car) Launching Refinance in May – relationship deepening opportunity with an estimated 30mm Chase customers with an off-us auto loan Meeting end-to-end needs of dealers across consumer financing, commercial products and personal financial needs of owners Leveraging AI and automation to provide a streamlined experience for dealers (~80% of credit decisions are automated) Direct expenses flat vs. 2019 while growing originations by 19% Delivering the full value of the firm (e.g., CIB, Connected Commerce) to our partners Driving sales for our partners by marketing to Chase customers through our owned assets (e.g., branches, ATMs, digital channels) 35% 31% 65% 69% 2019 1Q25 Originations$40B Originations +19% vs. 2019 $75B Avg Loans +21% vs. 2019 $11B Avg Lease (49%) vs. 2019 Auto #3 Bank auto finance lender1 Loan versus Lease Mix Financed Units2 (New/Used) New Car Prices3 (April 2025) Used Car Values4 (April 2025) +38%vs 2019 YoY Δ -14% +5%~Flat~Flat For footnoted information, refer to slide 59 42

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 Notes on slides 19-22 52

Asset & Wealth Management overview ⚫ Fiduciary responsibility: Dedicated to generating alpha for individuals, corporations, sovereigns and central banks for two centuries ⚫ Broad, diversified platform: $6T AUS split roughly equally between AM and GPB, spanning every asset class, channel and region ⚫ Global reach with personalized advice: Comprehensive client coverage (150+ countries) and robust governance / controls for best offerings INDUSTRY- LEADING FRANCHISE ⚫ Reliable growth engine powered by two market-leading businesses: Significant opportunity for growth across both businesses ⚫ Consistent, strong investment performance: 80%+ of long-term fund 10Y AUM above peer median1 for the past decade ⚫ Innovation and investment: Accelerating momentum in Active Management, Active ETFs, Alts, Workplace, GPB advisors, Personalization and AI INVESTING FOR GROWTH ⚫ Robust flows: $1T across 2023 and 2024 in combined net client asset flows, positive across all regions and channels ⚫ Industry-leading results: AWM delivered 34% pretax margin and 34% ROE in 2024 while investing significantly in our growth agenda ⚫ Leveraging the power of the Firm: Elevating impact for our clients through collaboration and connectivity across JPMC DELIVERING RESULTS For footnoted information, refer to slide 17 1

● Automated coding ● Automated alert management ● Restriction analysis ● Advanced data query Investing in Technology and AI Guidelines Remove “no joy” work Drive productivity Increase revenue NEW this year Proactive and anticipatory client adviceEnable quicker decision-making Build for reuse “We’ve looked at AI across many different industries – JPMorgan is playing an entirely different game” INDUSTRY IMPACT AdvisorsInvestors Operations ● Tailored outreach ideas ● Meeting prep & next steps ● Real-time market insights ● Answers from our experts ● AI-integrated workflow ● Automated insights ● Custom universes ● Extensive coverage Before Today (90%) Before Today +50% Before Today (83%) Time spent on researching a topic Productivity improved from automation Time to source discussion materials INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS 7 AI USE CASES ✓ ✓ ✓ ✓ ✓ ✓ Connect Coach 12 Smart Monitor

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

Our strategic focus areas will drive further growth KEY FOCUS AREASFACTORS IMPACTING THE BUSINESS Grow with long-term clients by providing exceptional service Continue to scale our operating model to process higher volumes at a lower cost Improve productivity though automation and investments in AI/ML Concentration, consolidation of AUM into the largest players New outsourcing needs (data) Rise of Alts and ETFs Price compression Invest in data solutions and growth products to deepen client relationships and grow revenue SECURITIES SERVICES 11

Unlocking the value of our data to drive value for the Firm and our clients EXPANSIVE DATA REACH 4 60B+ Global Transactions Integrated 3rd Party Datasets ~400mm Accounts ENABLE US TO LEVERAGE THIS DATA TO POWER SEVERAL USE CASES Client Experience Sales Enablement Operational Efficiency  Cashflow forecasting and business optimization  Expedited onboarding  Fraud prevention and detection  AI-driven lead generation  Data-driven solutioning  Intelligent CRM capabilities  Automated sanction screening  Servicing and workflow automation  Enhanced quality control Select examples Payments data lake AI and ML models Privacy and controls Win rate Revenue Banker productivityClient satisfaction Cost Risk STRONG TOOLS AND GOVERNANCE 31

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

Data, privacy, cybersecurity and artificial intelligence regulation:

The Firm and its subsidiaries are subject to laws, rules and regulations globally concerning data, including data protection, consumer protection, privacy, cybersecurity, artificial intelligence and related

For example, the Digital Operational Resilience Act (DORA) mandates that the Firm’s financial services subsidiaries operating in the EU comply with requirements relating to information and communications technology (“ICT”) risk management, reporting, security control testing and ICT third party risks beginning in January 2025. In addition, the EU Artificial Intelligence Act regulates the development and deployment of artificial intelligence systems within the EU, with phased-in requirements that began in February 2025.

JPMorganChase supports the professional development and career growth of its employees. The Firm requires that its employees, including new hires, complete a training curriculum which covers, among other topics, compliance with the Firm’s Code of Conduct and information concerning Firm policies and standards, including those relating to cybersecurity. In addition, the Firm offers extensive voluntary training programs and educational resources to all employees covering a broad variety of topics such as leadership and management, artificial intelligence, data literacy and operational and professional skills. Leadership Edge, the Firm’s global leadership and management development center of excellence, is focused on creating one Firmwide leadership culture.

•advances in artificial intelligence, such as the use of machine learning, generative artificial intelligence and quantum computing by malicious actors to develop more advanced social engineering attacks, including targeted phishing attacks

The increasing sophistication of artificial intelligence technologies poses a greater risk of identity fraud, as malicious actors may exploit artificial intelligence to create convincing false identities or manipulate verification processes. This challenge necessitates ongoing enhancements to client verification systems and security protocols to prevent unauthorized access and protect sensitive client information. Failure to manage these risks or to implement effective countermeasures could lead to unauthorized transactions, financial losses, reputational damage and increased regulatory scrutiny.

•developing or maintaining models and other analytical and judgment-based estimations, including those that use machine learning or artificial intelligence

These models and estimations are based on a variety of assumptions and historical trends, and are periodically reviewed and modified as necessary. The models and estimations that JPMorganChase uses, including those that use machine learning or artificial intelligence, may not be effective in all cases to identify, observe and mitigate risk due to a variety of factors, such as:

•incorrect, biased or misleading results or content generated by artificial intelligence, leading to harmful outcomes, including discrimination in lending practices against vulnerable populations, fraud, manipulation of customers, privacy breaches or intellectual property infringement

In addition, advances in technology, such as automation and artificial intelligence, may lead to workforce displacement. This could require JPMorganChase to invest in additional employee training, manage impacts on morale and retention, and compete for employment candidates who possess more advanced technological skills, all of which could

The Firm uses models and other analytical and judgment-based estimations, including those based upon machine learning or artificial intelligence techniques, across various businesses and functions. The estimation methods are of varying levels of sophistication and are used for many purposes, such as the valuation of positions and measurement of risk, assessing regulatory capital requirements, conducting stress testing, evaluating the allowance for credit losses and making business decisions. A dedicated independent function, Model Risk Governance and Review (“MRGR”), defines and governs the Firm’s policies relating to the management of model risk and risks associated with certain analytical and judgment-based estimations, such as those used in risk management, budget forecasting and capital planning and analysis.

Tech modernization, combined with our unrivalled data, position us to benefit from next gen AI Investing in modern technology infrastructure and practices Power of unrivalled data and analytics Modern data centers Journey to cloud Experience and success using traditional AI / machine learning Opportunities with Generative AI Drive software development excellence + = Customer personalization Trading Operations Fraud management Credit decisioning Products and features tailored to the customer Pricing and hedging Automation and insights Detecting and preventing fraud Improving accuracy and access Software engineering Customer support Front office Personalization Innovation Productivity 3

10% compound annual growth rate since 2005 $16 $19 $22 $23 $27 $30 $34 $39 $41 $45 $48 $51 $54 $56 $61 $66 $72 $73 $86 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 …which has led to strong absolute and relative performance over the last decade TBVPS1 ($) STRONG TRACK RECORD OF PERFORMANCE AND GROWTH… 21% ROTCE1 +3ppts YoY $162B Revenue4 8th consecutive year of growth 53% Adj. overhead ratio4,5 -4ppts YoY 510bps > peers2 $50B Net Income +32% YoY …MAKING US WHO WE ARE TODAY… Complete Global At ScaleDiversified “We are committed to achieving high quality of earnings. This means consistently investing in our businesses” - Jamie Dimon, 2007 …AND CONSISTENTLY INVESTING… Technology Bankers, Advisors & Branches Marketing Digital, Data, AI & Product Design New and Expanded Businesses …AND PREPARING US FOR THE FUTURE 20233 For footnoted information, refer to slide 19 5

5 Expense discipline and focused investing TOTAL ADJUSTED EXPENSE ($B)1 BREAKDOWN OF EXPENSE Technology ⚫ Prod. development (e.g., automation, Artificial Intelligence) ⚫ Modernization Revenue-producing & volume-related ⚫ Front office hiring – 3.5k GPB advisors in 2023 (record), grew at 12% CAGR since 2021 and will continue to grow at the same rate for the next three years ⚫ Performance-driven compensation – driven by new advisor hiring and growing revenue ⚫ Fund distribution expense – driven by higher management fees (revenue) on markets / flows Acquisitions ⚫ 55ip, Campbell Global, OpenInvest, Global Shares, J.P. Morgan Asset Management China (formerly CIFM) and First Republic FORTRESS FOUNDATION POSITIONED FOR GROWTH DIFFICULT TO REPLICATE $2.2 $10.4 2023 Revenue-producing & volume-related Technology Acquisitions Other $2.4 $11.6 2024 outlook $12.6 $0.9 $0.2 $0.1 $0.2 $14.0 Investments Applications have been migrated to strategic data centers and the cloud On track to migrate 99% by YE 2024 95% Applications processing largely in the public or private cloud 60% For footnoted information, refer to slide 18

14 Utilizing Artificial Intelligence to enhance experience, manage risks and drive efficiencies FORTRESS FOUNDATION POSITIONED FOR GROWTH DIFFICULT TO REPLICATE Drive productivity✓Remove “no joy” work✓ Increase revenue✓ 2022 2023 +188% Sales Assist gross sales per user Connect Coach pilot user experience 2023 YTD 2024 +30% Research, Traders & Portfolio Managers ⚫ Decades of proprietary data ⚫ Investment insights ⚫ Trading strategies Client Service ⚫ Client service “co-pilot” ⚫ Client sentiment & insights ⚫ Multi-layer fraud detection CASEY Marketing ⚫ Relevant product content ⚫ Performance & market data ⚫ Personalized recommendations Sales Assist Advisors ⚫ Meeting prep and summary ⚫ Real-time document retrieval ⚫ Next Best Action Connect Coach

We have the scale and scope of data to drive increasing value from AI / ML Fraud detection Credit risk Predictive servicing Branch optimization Future stateCurrent state Sales effectiveness Personalization Marketing effectiveness Underwriting Grow Engage Deepen For footnoted information, refer to slide 47 THE SCALE OF OUR DATA CONTINUES TO GROW, ENABLING US TO SERVE CUSTOMER NEEDS1 THE VALUE FROM AI / ML INVESTMENTS IS ACCELERATING AND CHANGING2 Financial data 34mm customer incomes 36mm credit profiles Digital engagement 18B digital log-ins 325B digital customer interactions Shopping behavior 25B credit and debit card transactions >10B Offers served3 Lifestyle 9mm+ trips booked ~1T Ultimate Rewards points redeemed Efficiency & risk examples Revenue examples 82mm consumers 6

2024 outlook We continue to invest in technology to support growth and profitability $1.4 $1.4 $1.3 $1.7 $0.8 $0.9 2023 2024 outlook ~$4.0 Tech modernization Product & design org Tech product development $3.6 +$0.4 TECH MODERNIZATION: ~$1.4B Products Data & AI / ML Platforms Channel Delivery & Enablement Other TECHNOLOGY & PRODUCT INVESTMENTS BY CATEGORY ($B) 2024 total Tech spend outlook (incl. Run the Bank): <$7B TECHNOLOGY & PRODUCT INVESTMENTS ($B) ~$4.0 ~80% ~55% Analytical data migrated to the public cloud2 Production applications migrated to strategic data centers and the public cloud1 Applications processing largely in the public or private cloud ~90% It takes >100 products and services to deliver the end-to-end ecosystem for our customers Note: Totals do not sum due to rounding; Product investment costs include all CCB product compensation costs For footnoted information, refer to slide 49 15

We have been executing on our Connected Commerce playbook What is the latest on your progress in Connected Commerce and how are you tracking to your goals? Q3: Connected CommerceQ1: Market Share Q2: Marketing Investment 2023 ENGAGEMENT METRICSACTIONS WE HAVE TAKEN  Launched Chase Media Solutions, the only bank- led media platform of its kind  Delivered uplifted offers digital experience and testing AI/ML enabled personalization engine  Launched Chase Travel brand and improved discoverability of our platform  Debuted our premium hotel collection The Edit with ~800 properties live  Launched the capability to sell Southwest Airlines inventory online, directly to consumers  Embedded bookings into The Infatuation and expanded EEEEEATSCON to new cities >10B Offers served to customers4 (+12% YoY) >5.5mm Unique monthly Infatuation visitors3 (+25% YoY) 3.5mm Unique customers booking travel1 (+19% YoY) 63mm Customers served Chase Offers (+5% YoY) We expect our strategy to deliver ~$30B in Commerce platform volume in 2025 and ~$2B in run-rate revenue in 2026 $11 $15 $20 2021 2022 2023 COMMERCE VOLUME ($B)5 Reached >$10B in Travel sales in ‘23 Shopping Travel & Dining ~40% YoY increase in premium hotel bookings2 For footnoted information, refer to slide 56 37

Notes on slides 6-8 Slide 6 – We have the scale and scope of data to drive increasing value from AI / ML 1. Data reflects full year 2023, except for credit profiles and consumer counts which are as of YE 2023 2. Growing use of advanced modeling capabilities (AI/ML) has been supported across CCB by controls to mitigate risks associated with fairness, including independent oversight, bias testing and enhanced model risk governance 3. Number of offers viewed by a customer during a campaign (excludes multiple views of the same offer) Slide 7 – Customer experience is an operating discipline 1. Net promoter score (NPS) is an indicator of customer satisfaction 2. Secure Banking accounts includes consolidated Liquid accounts in 2019 3. Includes any customer approved for a new account if they are one of the following: (1) have no credit history or report at any of the three national bureaus; (2) have primary tradeline(s) less than 12 months at the national bureaus; (3) have only authorized user tradelines at the national bureaus 4. Sapphire cards include Sapphire Reserve, Sapphire Preferred, and other legacy Sapphire credit cards 5. Small and medium sized businesses with annual revenue greater than $1mm 6. Compares December 2023 covered client count to that of January 2020 Slide 8 – We continue to deepen relationships into natural adjacencies 1. Connected Commerce business launched in 2021. 2019 volumes represent $3B in Travel GTV prior to cxLoyalty acquisition, and $4B in Offers attribution spend. Volumes include Travel Sales volume (including FROSCH affiliates), Offers Attribution Spend and Shopping & Apple GMV (incl. non-Chase Offers redemption volume) 2. Unique families with primary and joint account owners for open and funded accounts. Excluding First Republic 3. Includes Chase Branded Card (excluding Slate) 47

1 This presentation includes certain non-GAAP financial measures, which exclude the impact of legal expense. Refer to slide 35 for a reconciliation of reported results to these non-GAAP financial measures CIB ADJUSTED EXPENSE ($B)1 CIB Overview Global BankingPaymentsMarkets Securities Services Closing Combined CIB expense outlook is in line with previously communicated guidance Total investment spend $4.3B $4.7B Technology investments $3.4B $3.6B Digital, Data and AI/ML $0.4B $0.4B Revenue producers/adjacent $0.4B $0.5B Acquisitions $0.1B $0.2B $29.0 ~$30 $4.3 $4.7 $0.6 $0.5+/- $0.2 $0.3 $33.3 ~$35 Revenue producers & volume-related Technology Acquisitions (incl. FRC) Other2023 2024O market dependent 2024O2023 Non-investmentsInvestments 8

We are well positioned to grow as we innovate and scale our offerings Consolidation, AUM concentration into largest players Operating model complexity (rise of Alts & ETFs) Grow with long-term sustainable clients by providing best-in-class service New outsourcing needs (data) Strategic prioritiesFactors impacting the business Margin compression CIB Overview Global BankingPaymentsMarkets Securities Services Closing Continue to scale our operating model to process growing volumes and more complex products at a lower marginal cost Invest in data solutions to deepen client relationships and grow revenue 15 Improve productivity through automation and investments in new technologies, including AI/ML

Continuing to invest in our platform and capabilities DataCloud-based, client-focused data ⚫ Unified Client 360 view combining 150+ sources of internal and external data ⚫ Transaction data, service activity, firmographics and client insights Innovative, next-gen technologies ⚫ Integrated tools and platforms powered by AI ⚫ Optimized workflows and streamlined processes Client-centric digital solutions ⚫ Seamless, scalable solutions meeting clients’ needs across the size spectrum and personas ⚫ Personalized client offerings and experiences DELIVERING VALUE Client value Banker enablement ⚫ Business optimization and peer benchmarking ⚫ Cash flow forecasting ⚫ Data-driven solutioning, pricing and lead generation ⚫ Integrated tools across coverage teams Risk and portfolio management Operational excellence ⚫ Enhanced risk analytics and credit approval processes ⚫ Dynamic portfolio management ⚫ Servicing automation and fraud prevention analytics ⚫ Targeted quality control OUR FOUNDATIONAL CORE INVESTMENTS WILL DRIVE BUSINESS IMPACT 29 CIB Overview Markets Securities Services Payments Global Banking Closing Client satisfactionBanker productivity Cycle timeRevenue

Digital client platforms Our franchise is uniquely positioned for future growth CIB Overview Global BankingPaymentsMarkets Securities Services Closing Harness data, AI and digital tools Markets: Financing, e-Trading, Energy, Private Credit Securities Services: Alternatives, Middle Office, Fusion Close addressable gaps Broaden geographical reach Middle Market: Enter new markets Global Corridors: FX, cash pooling and hedging International: Strengthen in EMEA and APAC Priority AI/ML use cases Deepen client relationships High growth sectors e.g., Client ecosystems e.g., Technology Healthcare Financial Institutions Note: Medium-term ROE outlook excludes the impact of legal expense Sponsors / VCs Innovation Economy Middle Market Companies Payments: TS FX, Merchant Services Investment Banking: Sub-sectors in Advisory and ECM Client intelligence Fraud detection Risk management Workflow automation Corporates Improve positionExtend lead 33 Maintain day-to-day discipline Optimize our current model Transform for the future ~16% medium-term ROE outlook

•advances in artificial intelligence, such as the use of machine learning and generative artificial intelligence by malicious actors to develop more advanced social engineering attacks, including targeted phishing attacks

These models and estimations are based on a variety of assumptions and historical trends, and are periodically reviewed and modified as necessary. The models and estimations that JPMorgan Chase uses, including those that use machine learning, artificial intelligence or quantum computing, may not be effective in all cases to identify, observe and mitigate risk due to a variety of factors, such as:

9% compound annual growth rate since 2004 $15 $16 $19 $22 $23 $27 $30 $34 $39 $41 $45 $48 $51 $54 $56 $61 $66 $72 $73 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 Our strong track record has laid the foundation for our continued success TBVPS1 ($) 18% ROTCE1 $132B Revenue3 58% Overhead ratio3 445bps > peers2 $38B Net Income vs. 69% for peers2 vs. 12% for peers2 Complete Global At ScaleDiversified quality of earnings. This means consistently - Jamie Dimon, 2007 Technology Bankers, Advisors & Branches Marketing Digital, Data, AI & Product Design New and Expanded Businesses For footnoted information, refer to slide 22 2022 9

We continue to invest in positioning the Firm for long-term success $5.6 $6.7 $7.2 0.3 1.9 2.3 2.7 2.6 3.2 3.2 0.2 0.2 0.3 0.7 0.8 0.9 2021 2022 2023 Technology InvestmentsTotal investment expense ($B) CCB CIB CB AWM Corp. $10.9 $13.7 $15.7 0.5 0.3 0.6 5.2 7.1 7.9 3.0 3.6 3.9 0.7 0.9 1.0 1.4 1.8 2.2 2021 2022 2023 $1.7 $2.2 $2.7 2021 2022 2023 $2.1 $2.6 $3.0 2021 2022 2023 $0.7 $1.5 $1.2 2021 2022 2023 Bankers, Advisors & Branches Marketing Digital, Data, AI & Product Design New and Expanded Businesses Commerce Int. Consumer $0.7 $0.9 $1.0 2021 2022 2023 Other1 Totals may not sum due to rounding; for footnoted information, refer to slide 23 $0.2 $0.6 2021 2022 2023 $0.0 14

We continue to execute against our technology strategy Deliver best-in-class products, platforms, and experiences Unlock the power of data Strengthen our development capabilities and infrastructure Customer and client experiences Product and platform development Modernize technology Drive software development excellence Embed data and insights into everything Continued to release new products and experiences that delight our customers: Account validation: custom-built engine that validates bank accounts to protect customers Cash optimization: enable utilization of residual cash to generate alpha Connected Commerce: ecosystem of products connected via reusable APIs Fusion: cloud-native data management and reporting platform Versana: reduce settlement times and improve liquidity management for syndicated loan market Improved speed-to-market of product features by 20% (in days) Continued application modernization through refactoring, SaaS replacement, and legacy decommissioning Enabled multi-vendor public cloud as target state infrastructure Completed ~60% of our application migrations to strategic data centers Optimized data center footprint to facilitate public cloud journey Ahead of our plan to deliver $1B business value +34% YoY growth in AI/ML use cases in production Accelerated large- language-model (LLM) enablement Matured ability to respond to new threats, including quantum safe encryption Delivered business value through cyber as a differentiator Maintained flat expense relative to volume increases Proactively defend against cyber threats Protect the Firm and our customers 1 2 3 4 1

$1.5B target 2021 2022 2023 3.6x AI/ML driven business impact 7 Unlock the power of data3 Building an industry-leading team WE EXPECT TO BEAT OUR AI/ML IMPACT TARGETS CONTINUING TO ACCELERATE THE POWER OF OUR DATA AND AI/ML We continue to prioritize our investment in Data and AI/ML, and see increasing value in our businesses Expanding our technology platformsSelect thematic examples across our 300+ use cases in production Personalization of products and experiences for retail customers Deepening client relationships through improved analytics and insights ~25 use cases ~$220mm impact in 2022 ~60 use cases ~$100mm impact in 2022 1 JPMC ranked number one in the Evident AI Index (January 2023), the first public benchmark of major banks on their AI maturity 600+ ML engineersdata scientists 900+ 200+ AI researchers Ranked #1 Evident AI Index1 Improving capabilities, with embedded governance and Responsible AI Integrating ML Ops capability to support teams to develop models faster and measure performance Increased use cases leveraging firmwide model development and training platform by 2.2x YoY

We have delivered against our commitments Added net ~3mm customers to the CCB franchise Continued to scale distribution by opening 114 branches, while adding 240+ Business Relationship Managers and 300+ Advisors Launched Personal Advisors and Wealth Plan for Chase clients and advisors Launched Ink Business Premier, Pay in 4 on debit to select customers, and ChaseTravel.com for cardholders Targeted and delivered ~$8B in volume through Travel platform on track for ~$15B by 2025 Migrated nearly 30% of data to the public cloud on track for 50% by end of 2023 Delivered $500mm+ in value from AI/ML programs Continued to operate in a strong risk and controls environment Attracted top talent and reduced attrition Generated ~$40B in net interest income vs. ~$38B guidance from last year Incurred ~$31B in adjusted expense1 vs. ~$32B guidance from last year Delivered 29% ROE on net income of $14.9B Extended #1 position in retail deposit share2 by 60bps Extended #1 position in card by outstandings3 by 74bps Strategy Enablers Outcome STRATEGIC PRIORITIES AND COMMITMENTS For footnoted information, refer to slide 73 3

We are investing in critical capabilities and experiences to better serve customers across all segments -brand The Points Guy1 CNN7 -back CNBC Select6 Forbes Advisor5 CNET3 70 NPSOn our path to achieving NPS for select segments, 2022 Usage of machine learning to understand drivers of dissatisfaction Investments in servicing innovation (e.g., dispute tools, chatbots) Value of NPS: satisfied customers spend >30% more and attrite ~2x less8 Customer complaints, 2019-2022 Money.com2 The Points Guy1 Business Insider4 Reduction in customer complaints19% +3 NPS for Mass vs. 2021 +1 NPS for SMB vs. 2021 +2 NPS for Affluent vs. 2021 Consumer Banking Branch Network Business Banking Card & Connected Commerce 61 For footnoted information, refer to slide 107

2023 total investment spend $3.9B Technology investments $3.2B CIB technology $2.1B Enterprise technology $1.1B Digital, Data, and AI/ML $0.3B Revenue producers $0.2B Acquisitions $0.1B Note: Prior-period amounts have been revised to conform with the current presentation. For additional information, see note 1 on slide 44; totals may not sum due to rounding 1 This presentation includes certain non-GAAP financial measures, which exclude the impact of legal expense. Refer to slide 45 for a reconciliation of reported results to these non-GAAP financial measures We are being disciplined with expenses, with growth driven mainly by wage inflation and investments $22.3 $23.6 ~$24 $3.0 $3.6 $3.9 $0.0 $(0.2) $1.5 $0.6 $0.4 $0.2 Investments $25.3 $27.2 ~$28 ADJUSTED EXPENSE1 ($B) Market dependent Volume- & revenue-related Performance-driven compensation Volume-related operations, brokerage, and marketing Structural Compensation, including wage inflation Regulatory T&E normalization 2021 Volume- & revenue- related Structural Investments 2022 Volume- & revenue- related Structural Investments 2023 market dependent 5

We are expanding our offerings to deliver more value for our clients and unlock higher margins Leverage our strong foundation of core capabilities, controls and scale Address evolving client needs and personas Capture higher margin opportunities, proportionate to the value delivered Embedded Finance Orchestrate complex money movement and embed banking services in platforms (e.g., Marketplaces, PayFacs) FOR OUR CLIENTS FOR OUR CLIENTS KEY PRINCIPLES Wallets / bank accountsOnboarding Managed Pay-Outs SaaS by Industry Contextualized offerings that address needs of specific industries, either through proprietary (full stack) or partner (thin stack) offerings Smart EnergyHealthcare Data and Capabilities as-a-Service New products that deliver enhanced experiences, more intelligence and better security for our clients FX-as-a-Service Security-as-a-Service Payments Products Innovation Expanding core payments offerings facilitating global money movement and liquidity management Real-time payments Alternative payment methods Structured Trade CommerceMobility Merchant Lending JPM Coin OUR STRATEGIC FOCUS AREAS Selected product examples, not exhaustive Data-as-a-Service Harness advanced AI/ML at scale to unlock value for us and our clients Live Upcoming Pilot 31

Updated user interface for improved navigation and client experience, including mobile Enhanced service tools AI-enabled value-added services (e.g., Cash Flow Intelligence) Embedded within leading ERP systems STRONG DIGITAL PORTAL ~34k Profiles ~$9T Monthly Transactions ~6k Mobile Users #1 for Overall Digital Capabilities1 2017 2022 Target ~2k API Clients New Developer Console coming live in 3Q VALUE PROPOSITION FOR DEVELOPERS Unified API across payment rails 15% CAGR 9% CAGR We continue to enhance the ways our clients can connect with us, focusing on improving developer experience and ease of use Firmwide Payments Digital Channels Fee Revenue <1.global.api> 1 Source: Coalition Greenwich Digital Transformation Benchmarking 2022 Large Corporate Segment 2 Target growth rates go out no further than 2025 NOT TO SCALE 2 32

We work closely with the rest of the Firm to deliver value to our clients Excerpt from Investment Banking section PAYMENTS IS INTEGRAL TO OUR One Client Strategy Coordinated client coverage and solutioning Product innovation and co-creation Client Lifecycle Engagement Day-to-day flow relationship maintains client dialogue and enhances economics Solutions to help clients grow and expand internationally Cross-LOB Partnerships With Markets: FX Payments With CCB: Data & Analytics, Payment Network Relationships, Small Business With Firmwide Centers of Excellence: Client Onboarding and KYC, Technology (e.g., Cloud), AI/ML ACROSS 39

We will build on our leadership position by applying consistent discipline and continuously future-proofing our model COMPLETE GLOBAL DIVERSIFIED AT SCALE Maintaining day-to-day discipline Optimizing our current model Transforming for the future Closing addressable gaps in our wallet Accelerating organic growth Attracting and retaining our talent Modernizing our core technology to enable scale and faster innovation 1 2 3 Advancing strategic platforms to further integrate our delivery of the Firm and provide a better experience for our clients Monitor and invest in new and emerging technology (e.g., AI) to develop future-proof solutions Continued resilience in the face of disruption risks to our business Holistic client servicing across businesses to bring the best of the Firm Accelerating organic growth Agile capital deployment and dynamic financial management to optimize profits GeopoliticsInflation Digitization & AI Carbon transition War for talentRates Traditional players New entrantsMarket structure 42 ~16% ROE through the cycle target MACRO ENVIRONMENT COMPETITIVE LANDSCAPEMARKET FORCES Note: ROE through the cycle target excludes the impact of legal expense

5 Technology is the foundation of future growth Customer and client experiences Driving innovation & value creation Product and platform development Modernize technology Embed data and insights into everything Drive software development excellence Proactively defend against cyber threats Deliver best-in-class products, platforms and experiences Strengthen our development capabilities and infrastructure Unlock the power of data Protect the Firm and our customers strategic apps on Cloud (50% of infra. spend) Millions of research and data reports analyzed in seconds 50+ AI pilots across AWM 84% Python trained non-tech employees 5,400 hours saved through low-code solutions 131,000 30Y of proprietary research into Spectrum GPT traded on Morgan Money portal YTD1 (2x YoY)$1T+ +13% increase in fraud attempts YTD3 (after record 2022) 11,000 family offices / clients attended cyber teach-ins $31mm fraud prevented YTD1 rated CRM for Global Private Banks2#1 reduction in time on custom performance reporting99% For footnoted information, refer to slide 18