J P M O R G A N C H A S E S T R A T E G I C U P D A T E Marianne Lake, Chief Financial Officer February 27, 2018

J P M C I N T E R N A L U S E O N L Y Agenda Page Operating from a position of strength 1 8 Digital everything 31 Business strategy – performance and updates Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management 32 39 45 49 Outlook 54 Reference materials 67 20 Payments everywhere

J P M C I N T E R N A L U S E O N L Y O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H Proven operating model – positioned for success Complete Diversified Global Scale Mobile first – digital everything – multi-channel delivery Long-term strategic focus on growth and profitability Customer centric Execute with discipline – capital, expense and controls $ € ¥ £ Deeply integrated – payments as a holistic solution World-class technology and data capabilities 1

J P M C I N T E R N A L U S E O N L Y O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H 1 Note: For footnoted information, refer to slide 77 Our brands have never been stronger J.P. Morgan and Chase ■ 2017 Bank “Brand of the Year”4 ■ #1 in Retail Banking for five years in a row ■ #1 in Premier Banking for a record six years in a row ■ #1 Primary Institution for banking and cards among Millennials JPMC is recognized as a leader in global business Chase brand “They’ve built a lifestyle brand out of [Sapphire Reserve] …a part of your identity, like the clothes you wear” – Bloomberg editorial 5  #1 of global large banks in Interbrand’s Best Global Brand 2017  #1 Overall Global Fixed-Income Service Quality – Greenwich Associates1  #1 U.S. Equity Sales Trading & Execution Service Quality – Greenwich Associates2  Excellence Award for Overall Digital Banking – Greenwich Associates 20173  #1 Global Research Firm – Institutional Investor JPM brand 99% 86% 72% 51% Awareness Familiarity Consideration Ownership Chase Brand Health 2017 #1 Tie Chase brand is #1 or tied for #1 in key categories6 “Top 50 Most Innovative Companies of 2018” – The Boston Consulting Group Fortune's 2018 World's Most Admired Companies 1. Apple 2. Amazon 3. Alphabet 4. Berkshire Hathaway 5. Starbucks 6. Disney 7. Microsoft 8. Southwest 9. FedEx 10. JPMorgan Chase & Co. 7 8 9 10 2

J P M C I N T E R N A L U S E O N L Y Attractive footprint with strong positioning across the U.S. and globally Serving our customers across channels and geographies O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H National footprint across our businesses Commitment and resources to build and maintain a global network Over 5,100 branches across the U.S. with over 16,000 ATMs CB presence in 125 U.S. cities, coverage of all Top 50 MSAs Branch presence Non-branch offices only Presence in over 100 markets Net revenue: ~50% of CIB and ~30% of AWM is international ~$800B of client assets and ~500 WM client advisors ~$2.3T of client assets and over 5,000 WM client advisors1 Offices in 39 states with nationwide coverage for CIB, CB, AWM OH UT WI AZ CO KY LA MI OK FL W IL IN TX KY LA CB int’l revenue of $323mm, presence in 18 countries2 Global model L a tA m ~$2B revenue  CIB: $1.1B  AWM: $0.8B E M E A ~$14B revenue  CIB: $11.3B  AWM: $2.0B A P A C ~$6B revenue  CIB: $4.5B  AWM: $1.2B North America: $80B+ revenue and ~70% of employees International: $20B+ revenue and ~30% of employees Note: Numbers may not sum due to rounding. For footnoted information, refer to slide 78 Note: Data is as of or for the year ended December 31, 2017 3

J P M C I N T E R N A L U S E O N L Y 6% 2% 5% 7% 5% 7% JPM BAC WFC C GS MS $22 $17 $15 $17 $8 $5 JPM BAC WFC C GS MS 13.6% 11.1% 11.3% 8.1% 11.3% 11.2% JPM BAC WFC C GS MS 13% 23% (14%) 13% 21% 28% JPM BAC WFC C GS MS 56% 62% 65% 57% 65% 73% JPM BAC WFC C GS MS $104 $88 $90 $72 $32 $38 JPM BAC WFC C GS MS Strong absolute and relative performance Financial overview O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H Note: For footnoted information, refer to slide 79 FY2017 Managed overhead ratio1,4 FY2017 Managed revenue1,2 ($B) FY2017 YoY EPS3 FY2017 YoY TBVPS3,6FY2017 Net capital distribution ($B) 5% 10-year CAGR (6)% (2)% $27 $21 $16 $19 $9 4% (2)% $7 3% Net Income3 5 Financial metrics exclude the impact of tax reform FY2017 ROTCE3 9% 3% (5)% 12% 9% 3% 10-year CAGR 4

J P M C I N T E R N A L U S E O N L Y Continue to operate from a position of strength…across all key dimensions Financial overview O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H Note: For footnoted information, refer to slide 80 2017 2016 DFAST loss rates7 5.7% 6.1% Adj. overhead ratio6 57% 57% Dividends per share $2.12 $1.88 CET11,2 12.1% 12.2% Total assets / RWA1,2 $2.5T / $1.5T $2.5T / $1.5T Firm SLR2 6.5% 6.5% GSIB3 3.5% 3.5% TLAC ext. LTD shortfall4  <$10B LCR and NSFR5 >100% >100% Net payout ratio 98% 65% Key dimensions 5

J P M C I N T E R N A L U S E O N L Y Capital has reached an inflection point Medium-term expectations O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H Expect capital to move down within 11-12.0% corridor in the medium-term Capital outlook 2017 Medium-term T h o u s a n d s 2017 Medium-term 12.1%1 11.0% 12.0% Binding CET1 ratio Total net payout ratio 98% ~100% 2018 Average retained equity Consumer & Community Banking $51.0 Corporate & Investment Bank 70.0 Commercial Banking 20.0 Asset & Wealth Management 9.0 Total LOBs $150.0 Corporate 35.0 Total Firm $185.0 Capital allocation unchanged from 2017 2 1 Reflects Basel III binding Fully Phased-In measure. See note 6 on slide 76 2 Medium-term payout ratio is based on analyst estimates 3 Reflects average CET1 capital. Total Firm based on analyst estimates Capital allocation ($B) ~ 3 6

J P M C I N T E R N A L U S E O N L Y O P E R A T I N G F R O M A P O S I T I O N O F S T R E N G T H Strong U.S. economic growth supports recalibration of GSIB coefficients Upward pressure on GSIB scores 4Q16 3Q17  U.S. economy has grown over 11%1 – no change to fixed coefficients – no increase in systemic risk  Federal Reserve has ability to recalibrate coefficients: “to ensure changes in economic growth do not unduly affect firms’ systemic risk scores”2 Overview 2014 2015 2016 2017 GSIB score Distance to next higher GSIB bucket 840 699 693 >700 JPM BAC GS MS WFC Current calibration of GSIB coefficients could become a barrier to further economic growth C (34) (33) (18) (33) (24) (2) Change3 ~$200B non- op. deposit reduction Recalibration could create >50 GSIB points of capacity 1 >11% cumulative nominal GDP grow th since the 2014 establishment of coefficients 2 Federal Register, Volume 80, No. 157, August 14, 2015 3 Change betw een 4Q16 and 3Q17 3 37 7 40 6 30 (12) 21 32 50 55 57 7

J P M C I N T E R N A L U S E O N L Y Digital everything 8

J P M C I N T E R N A L U S E O N L Y Why digital matters S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Digital capabilities are critical to our business Our customers demand digital capabilities Importance of digital leadership 57% 65% of Millennials would change their bank for a better tech platform1 of clients would consider leaving a firm if digital channels are not integrated2 Choice of bank 2015 2017 2015 2017 51% 46% 56% 42% Leading digital Branch convenience Non-branch factors are increasing perceptions of convenience Evolution of convenience3 WM clients of WM clients view digital as #1 factor influencing their client service experience6 53% Traders of FX traders extremely likely to use mobile app to trade in 2018 – nearly double from last year4 61% Corporates of companies cite digital capabilities as “Highly” or “Very” important in selecting a banking partner5 76% Note: For footnoted information, refer to slide 81 9

J P M C I N T E R N A L U S E O N L Y The business case for digital is compelling Why digital matters S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Increased customer satisfaction +19% Net Promoter Score (NPS)1,2,3 +118% higher card spend1,2,5 85% of wealthy individuals use financial apps6 in digitally active Business Banking clients7 +21ppts Increased retention & wallet +10ppts retention rates1,2,4 +40% higher deposit and investment share1,2,8 Business efficiencies ~$0 marginal cost of many electronic trades approaches $0 (94%) lower cost per check deposits for digital transactions (QuickDeposit)10 ~99% straight-through processing rate on ~$5T daily wholesale payments #1 FX Single Dealer Platform Euromoney FX Survey 2017 eXecute: Best Mobile Platform Profit & Loss Digital FX Awards 2017 benefit from paperless statements9 ~$365mm 1 For digitally engaged households Note: For additional footnoted information, refer to slide 82 10

J P M C I N T E R N A L U S E O N L Y The customer is at the center of everything we do Digital strategy S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Unique scale advantage  Full set of products and services  Flexible engagement model and multi-channel delivery Delivering value What they want, when they want, how they want  Protect privacy of data  Secure transactions  Detect and mitigate fraud  Safe and seamless Protecting the customer and the Firm  Emphasizing user experience  Real time services  Automate and digitize  Deeply integrated Delivered fast and simply Ease of doing business  Underwrite the whole customer  Leveraging data and analytics for tailored customer solutions  Create unique insights for each client  Relevant through client lifecycle From transactions to integrated experiences Security Personalization Choice 11

J P M C I N T E R N A L U S E O N L Y Enhancing the client onboarding process across the bank Make it easy to become a client – and seamless to add products and services S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Creating STREAMLINED and SIMPLIFIED client documentation + approval processes Enhancing client onboarding to facilitate EXPEDITED + DIGITAL account opening Enabling data collection from clients ONCE ~85% reduction in WM advisor-supported client onboarding time2 ~90% reduction in Treasury Services account opening time driven by DataOnceTM Single application increasing multi-product engagement by 25% (Deposit + Card) and 12% (Deposit + Merchant Services) for small business clients1 Open a bank account online3 or a self-directed investment account in Digital Wealth Management4… in minutes Note: For footnoted information, refer to slide 83 12

J P M C I N T E R N A L U S E O N L Y Customers rely on Chase digital offerings throughout their daily lives Providing choice, security, ease and personalization S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Buy groceries… …with digital wallets Get cash… …using a Chase eATM Receive notification of purchase… …by text message from Chase 5 ATM transactions per month1 6 digital wallet transactions per month1 32 Debit and 21 Credit transactions per month1 18 credit card transaction alerts monthly2 Split lunch bill with friends… …using QuickPay with Zelle 3 P2P transactions per month1 Check investment portfolio and get advice… …using ChaseMobile Deposit a check… …using QuickDeposit 2 mobile QuickDeposits per month1 Everyday activities enabled by Chase Embedded in customers’ lives ~47mm Chase customers bank through digital channels3 – average 15+ log-ins per month1 12x increase in use of online investing site since April 2017 Note: For footnoted information, refer to slide 84 13

J P M C I N T E R N A L U S E O N L Y We seek to offer innovative digital solutions across products and asset classes Portfolio of innovation S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Chase Business Quick Capital – powered by OnDeck software – delivers small business customers same day access to capital, digitally Strong customer satisfaction, with average NPS2 of 83 Finn – a mobile-only bank with tools designed to help customers take control of their money Categorize transactions Rate purchases Promote your financial well being <4 mins to open an account1 Roostify partnership transforms the Chase Digital Mortgage process to be simpler, faster and more transparent ~15% reduction in time to complete mortgage refi process3 Chase Auto Direct – digital car buying service powered by TrueCar – allows customers to pick a car and secure financing in one place Chase Auto Direct ~90% increase in booked loan $ volume, YoY4 Chase Business Quick Capital powered by… powered by… Chase Digital Mortgage powered by… Note: For footnoted information, refer to slide 85 14

J P M C I N T E R N A L U S E O N L Y We are investing significantly in Digital Wealth Management solutions Building tailored solutions S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S These capabilities will be fully available in 2018 with ongoing enhancements Partner with advisor Tailored digital solutions for our clients’ needs Client types Just getting started Empower the advisor Do it yourself Online and Mobile investing, part of our new self- directed offering, gives clients a convenient way to move money and trade securities Percent of trades placed online has doubled to ~55% since April 20171 Online and Mobile investing Digital Advice gives clients a simple and easy way to get and stay invested in diversified portfolios Asset allocation recommendation Digital portfolio selection In pilot with broad rollout planned later this year Digital Advice Digital Portfolio Insights will help advisors build stronger portfolios through sophisticated analytics and customized insights Pilot launched February 2018 with broad rollout by end of 1Q18 Digital Portfolio Insights Customized insights & analytics Powered by J.P. Morgan Spectrum Ideas & Insights, our content hub embedded within J.P. Morgan Online, empowers clients with world-class thought leadership Ideas & Insights New J.P. Morgan website integrates Chase’s back- end infrastructure with a Private Bank tailored interface 1 Chase Wealth Management clients only 15

J P M C I N T E R N A L U S E O N L Y S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S We provide a digital continuum for businesses of all sizes and complexities Corporate clients Multi-channel access to broad-based capabilities Online account opening and self-service Real time liquidity solutions International functionality and reach Easy access to loan, merchant and card Payments, FX and real time rates Integrated view with custom reporting and analysis options CLIENT APIs  Seamless integration  Flexibility Digital platforms Direct access Seamless transition as clients’ needs evolve 16

J P M C I N T E R N A L U S E O N L Y S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Electronification is integral to our Markets business model Institutional clients – secular trends driving electronification FY 2017 Electronification Equities1 Macro2 Spread3 % Electronic client ticket # % Electronic client notional $ 99% 89% 97% 46% 51% 46% 1 Equities includes all Cash Equities 2 Macro includes securities & derivatives for Rates, Global Emerging Markets, FX and Commodities 3 Spread includes securities & derivatives for Credit, Securitized Products and Municipal Finance 17

J P M C I N T E R N A L U S E O N L Y S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Through the clients’ channel of choice… Voice Online APIs Mobile 3rd Party We are transforming our Markets business to deliver an end-to-end digital experience Capabilities across the lifecycle through the clients’ channel of choice Expanded execution capabilities with further integration Expanded self-service product suite including cross asset views Quick, efficient, secure authentication Curated, topical content with smart search Simple, modern, integrated digital analytics Integrated platform across Markets, Custody & Fund Services and Prime clients Enhanced issuer digital capabilities with connectivity to JPMM Corporate Finance Onboarding Prime and Custody Execution Post-trade / Clearing and Settlement …we offer market leading capabilities across their lifecycle Research Analytics CLIENT Execute 18

J P M C I N T E R N A L U S E O N L Y Our digital solutions are designed to meet all of our customers’ needs S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Security Personalization Choice Ease of doing business Investing to deliver differentiated, personalized experiences at scale Accelerating time to market – improving customer satisfaction and reducing cost Providing value through customer journeys and supporting businesses of all sizes and complexities Leveraging shared platforms and capabilities across the Firm Executing with discipline and urgency Small Business Institutional Investing Banking & Payments CONSUMER: WHOLESALE: Corporates and MNCs Borrowing 19

J P M C I N T E R N A L U S E O N L Y Payments everywhere 20

J P M C I N T E R N A L U S E O N L Y A rapidly evolving payments landscape creates opportunities across our businesses Industry overview and JPMorgan Chase position S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Market growth 120+ Currencies to execute payments #1 USD clearing house4 $5T Average daily value of payments (Firmwide) Industry snapshot – the payments market is large, global and growing JPMorgan Chase is a market leader – delivering for our clients at scale ~$16T $290B Global wholesale payments revenue1 Global trade flows2 SWIFT messages a year3 Estimated total P2P market6 $41B Volume processed through QuickPay with Zelle8,10 $6T Estimated total credit and debit card spend5 Debit & credit card sales volume8,9 $1T+ Merchant processing volume8 $5T+ Estimated total U.S. merchant processing volume7 U.S. e-commerce purchase volume of $550B+ growing 6% annually to 2021, driven by faster growth in mobile commerce13 Wholesale industry Consumer industry Wholesale – JPM Consumer – JPM $900B+ ~$350B 2/3 of U.S. adults are likely to be active P2P users by 20226 Expected global wholesale payments revenue to grow 7% annually through 20251 165mm Global trade growth of 3-4% in 2018 with future upside from new trade corridors12 Credit and debit card spend in the U.S. expected to grow >5% annually over the next 5 years11 ▲ ▲ ▲ ▲ ▲ ~$10T total payments incl. ~$2.5T paper and ~$1.5T electronic5 Note: For footnoted information, refer to slide 86 21

J P M C I N T E R N A L U S E O N L Y We are well-positioned to deliver modern payments experiences Consumer S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S We have invested in our payments value chain for over a decade… Merchants / Partners Consumers 2009/2010 – 2016/2017 Simplified offerings into strong, differentiated products and updated offers 2008 Chase dissolves joint venture with First Data 2013 – 2014 Chase announces 10 year Visa deal and launches ChaseNet – first merchants go live 2017 Chase acquisitions and partnerships 2016 Chase launches Chase PaySM with key merchant partnerships …and we have tremendous reach 2010 and 2017 Real-time payment launches ~48mm Debit and credit card payments customers2 >50% of the Zelle network $41B in P2P volume3, up 40% YoY >70% of our active credit card customers have embedded our cards in mobile wallets, recurring bills or merchant payments4 ~22% Credit card sales market share5 ~40% CCB customers move money through Chase1 2015 – 2018 Co-brand renewals/new partnerships Past Present ~12% P2P market share3,6 ~75% CCB customers are active across payments services1 Note: For footnoted information, refer to slide 87 22

J P M C I N T E R N A L U S E O N L Y Small businesses Software providers  Instant onboarding for Chase payment processing with fast payouts  Integration with merchants’ preferred software solutions, both online and in- store  Simple integration of payments into software  Access to Chase’s network of 4 million small businesses  Credibility, scale and security of the Chase brand Simplifying consumer and small business payments P2P and integrated payments – growth opportunities 96mm 143mm 2016 2017 Chase to Chase Chase to/from non-Chase +93% +41% Pre-launch Post-launch Transactions volume +48% 3.5 4.4 Engaged users (mm) +27% $29 $41 P2P money moved ($B) +40% YoY % ∆ Becoming a major player in the integrated payments space, providing simple onboarding and activation of payments Differentiated payments experience for small businesses S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S P2P payments experiencing strong growth 23

J P M C I N T E R N A L U S E O N L Y We have a strong foundation to drive habituation and personalization Consumer – moving from transactional support to personalized, integrated experiences S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S  P2P, debit, credit, Bill Pay, ACH, wire, check  Credit cards: cash back, T&E, co-branded  Support all mobile wallets  QuickPay with Zelle Delivering value What they want, when they want, how they want  Customer and merchant protection  Safe and secure data  Cybersecurity  Fraud prevention  Tokenization Protecting the customer and the Firm  Be everywhere, work everywhere  Mobile everything  Transparent and easy to use rewards (e.g., Pay with Points)  Customers control “cards on file”  WePay  Interoperability Delivered fast and simply Ease of doing business Unique scale advantage  Chase Pay as a platform  Order ahead  Merchant funded offers  Relevant, targeted lending offers  Integrated and intuitive payments experiences From transactions to integrated experiences Security Personalization Choice 24

J P M C I N T E R N A L U S E O N L Y We have built our competitive advantages on four pillars Wholesale Evolving client needs… Focus on client experience and ability to adapt to client needs  Streamline and simplify on-boarding  Multi-channel  New products, functions and capabilities Scalable, cross- business core platforms  Global low cost options  Digital platform  Enable value-added services Portfolio of innovation  Build, partner, invest  Agile approach  In-residence program  Software integration Best-in-class risk and controls  Fraud behavioral analytics and pattern detection  Infrastructure, scale and global footprint  Scale advantage …and we are responding End-to-end solutions Seamless integration Analytics to support business processes Immediate – real- time settlement Simple user interfaces 1 2 3 4 Digitization of payments Demand for global network Cybersecurity and regulation Competition from FinTechs Demand for real- time insights …are driving industry trends… S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S 25

J P M C I N T E R N A L U S E O N L Y We have a complete offering across the payments value chain Innovative client solutions S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Products and capabilities Real-time reconciliation including track-and-trace for delivery confirmation Reconciliation Liquidity & FX Settlement & infrastructure Supply chain finance Treasury optimization Service Best-in-class infrastructure Just-in-time funding to mitigate currency risk Dedicated teams to support all products across all clients and regions Smart routing, analytics and virtual account management Optimizes working capital Risk and controls Fraud behavioral analytics and pattern detection Pay in Pay out CLIENT All payment types in all regions (in-house and via partnerships) All payment types in all regions (in-house and via partnerships) 26

J P M C I N T E R N A L U S E O N L Y Leveraging blockchain technology to transform correspondent banking Interbank Information Network (“IIN”) Remitter Remitter Bank Corres. Bank Corres. Bank Bene. Bank Beneficiary Opaque Costly Slow Manual Future state Shared utility functions Active risk/compliance management Streamlined messaging Liquidity Management Peer to peer movement $ $ $ Transparent Efficient 24/7 Automated  Leverages J.P. Morgan’s Quorum, a blockchain technology  Creates a secure, decentralized, permission- based network to securely exchange information  IIN will reduce payment delays and touch points IIN Overview S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Current state Remitter Bank Beneficiary Bank IIN Global Distributed Network 27

J P M C I N T E R N A L U S E O N L Y We are positioned to lead the Real-Time Payments market Collaboration driving development of new core payments system  Sharing technology capabilities across wholesale and retail  Working together with our largest corporate clients to design best in class solutions  Collaboration positions us to lead the industry towards tighter electronic integration between corporate billers and consumers  Shaping industry discussions with The Clearing House through early adopter forums Working together… …to create more value for our clients  Just-in-time supplier payments  SMB Payments (vendor + basic payroll)  Last minute bill payment  Temporary employee w ages, emergency payroll, consumer refunds  External account-to-account bank transfers  Sending emergency funds Key Use Cases We are uniquely positioned as a leader in RTP with collaboration between our wholesale and retail businesses Availability Instant payments availability 24 / 7 / 365 Extensible messaging Messaging ISO 20022 Security Sender initiates the transaction from DDA Credit Push Driven by The Clearing House, the key features of Real-Time Payments will be: S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S USD Credit transfers up to $25k Amount $25,000 Speed Money is available within 15 seconds 15 28

J P M C I N T E R N A L U S E O N L Y FINANCIAL SYSTEMIC ANALYSIS & RESILIENCE CENTER AMERICAS EMEA Protecting the Firm’s stakeholders through robust security and controls Securing everywhere – everything we do, anywhere we operate S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S  Safeguarding employee access and activity  Securing the cloud  Cybersecurity resiliency and recovery  Protecting data and privacy  Payment controls  Securing third parties  Simplify and strengthen client authentication – proactive defense capabilities  Monitor and test health of critical payment flows  Advanced fraud detection – leverage machine learning coupled with human expertise  Client education and awareness  Robust sanctions screening process  Early detection and automated response  Integrated threat intelligence  Industry leading collaboration Global 24x7 Cybersecurity Operations Protect the bank Protect our clients Risk & Controls APAC 29

J P M C I N T E R N A L U S E O N L Y We are uniquely positioned to deliver holistic payments solutions S T R A T E G I C O V E R V I E W – D I G I T A L A N D P A Y M E N T S Security Personalization Choice Ease of doing business Complete set of assets, leveraging core platforms and businesses Market leader operating at scale in each of our payments strategies Continuously investing and innovating The opportunity ahead is large and growing Cross leverage investments across the company 30

J P M C I N T E R N A L U S E O N L Y Business strategy Performance and updates 31

J P M C I N T E R N A L U S E O N L Y Consumer & Community Banking – the power of our Consumer franchise B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Diversified platform with relationships with ~50% of U.S. households 61 million Chase households1 4 million Small businesses2 47 million Active digital users2,3 97 million Credit and debit card accounts2,4 Note: For footnoted information, refer to slide 88 Goal is to be the easiest bank to do business with ■ Help you run your business ■ Manage your cash flow Grow my business ■ Digital mortgage ■ Realtor partnerships Own a home ■ Buy and finance online ■ Delivering value with partnerships Own a car ■ Single application ■ Pre-approved offers Becoming a Chase customer ■ Whenever, wherever ■ Keep your payments safe Pay with Chase ■ Help you save ■ Help you invest Grow my wealth 32

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Leading industry deposit growth driven by multi-channel engagement model CCB – Consumer Banking Retail deposit growth2 #1 8.7% share ▲ ~200bps CBB average deposits $626B ▲ 60 % Industry growth of ~20%2 We have a multi-channel strategy 70% of our households use Chase as their primary bank3 Since 2012… Consumer Bank customer satisfaction1 #2 2017 JD Power National Bank  Physical presence  Digital engagement  Leverage our brand and marketing  50% of households are branch-centric or multi-channel  ~1mm customers in our branches daily5  ~60% of households use branches every quarter6  ~75% of our deposit growth comes from customers who use branches Branch-centric 17% 32% 38% 12% Digitally- centric Other  70% of households are digitally-engaged  40% more deposits and investments for digitally-engaged established customers who use Chase as their primary bank7 National Banks Super Regional Other Industry avg. growth = 4.2% ~200bps share gain Industry leading deposit growth 10% 6% 2% 3% CAGR 12% 6% 3% 5% YoY Household engagement channel4  Power of Chase brand enhances J.P. Morgan brand for Asset Management Client investment assets $273B ▲72% Record 2017 Multi- channel Note: Numbers may not sum due to rounding. For footnoted information, refer to slide 89 2012-2017 CAGR 33

J P M C I N T E R N A L U S E O N L Y We continue to transform our physical footprint to sustain strong growth CCB – Consumer Banking – branch network B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S $1T Deposit market ~400 New branches 15-20 New markets Next 5 years Branch expansion Branch network optimization Expand while optimizing 69 new builds1 197 consolidations1 2017 Innovation and changing branch formats – aligned to customers’ preferences 1 Includes relocations 75% of …and 80% 20% reduction in square footage of new branch builds since 2012 branches could be exited in 5 years… could be extended for >10 years Full service New flagships Everyday express Standalone ATMs 34

J P M C I N T E R N A L U S E O N L Y Integrated payments experience Credit Card NPS1 ▲ 18 points Credit Card sales market share4 22.4% ▲ ~190bps We continue to grow and innovate our credit card portfolio CCB – Card and Merchant Services B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Continued card innovation; 99% of co-brands renewed Amazon Prime United TravelBank Disney Marriott Chase branded cards New co-brand products Co-brand renewals Sapphire Reserve Hyatt Starbucks Wholly-owned merchant acquirer6 #1 18.6% share ▲ ~610bps Credit Card sales2 $622B ▲ 63% Industry growth of ~50%3 Credit Card outstandings $150B ▲ 17% Industry growth of ~20%5 Merchant processing volume $1.2T ▲ 82% ~2x industry average6 Merchant Services NPS ▲ 13 points Since 2012… Since 2016 Ink Freedom Unlimited Sapphire Reserve highlights Average annual sales volume8 ~$39k Average FICO ~785 Average income7 ~$180k Sales active rate9 96% Renewals10 >90% What’s next? Spend and lend – flexibility and enhanced targeting Customer focused investment in digital and mobile Deeper engagement with Card customers across CCB Chase spend uplift >50%11 Note: For footnoted information, refer to slide 90 35

J P M C I N T E R N A L U S E O N L Y We continue to build a higher quality and less volatile home lending business CCB – Home Lending B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Avg. mortgage loans $241B ▲ 30% WFC: (1)%; BAC: (25)% USB: +13% Jumbo originator #2 11.3% share ▲ 810bps Home Lending NPS 36 ▲ 29 points Since 2012… Strong core loan growth largely driven by jumbo loans we retain on our balance sheet while de-risking the business Well positioned to capture the growing purchase market – industry originations ($B)6 $53 $170 $152 $67 $205 $237 2012 2017 Core³ Non-core² Total: +3% Non-core: (15)% Core: +26% 2012-2017 CAGR Home Lending average loan balances ($B) NCO rate down 235bps to 0.02% Foreclosure inventory down ~90% to 35k Primarily jumbo $181B $98B Originations 7 4% 41% % Retained7 Average loans $237B ▲ 16% Industry growth of ~8%2 Jumbo originator3 #2 14.2% share ▲ ~700bps Home Lending NPS1 ▲ 30 points 61mm CCB households8 +10% Chase Home Lending advisors in 2017… …and +500 over next 5 years Capturing growth opportunity 30mm with mortgage9 5mm with Chase mortgage9 $2,076 $2,065 $1,810 $1,693 $1,705 $587 $1,037 $1,148 $1,227 $1,288 $1,489 $1,028 $662 $466 $417 2012 2016 2017 2018F 2019F Refi Purchase 5.5% JPM refi share 5.1% JPM purchase share 5.9% 4.5% + ~40bps share7 YoY 5 4 Note: For footnoted information, refer to slide 91 36

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S We continue to grow our auto originations and deepen our relationships CCB – Auto $23B $33B 2012 2017 Manufacturing partners Chase indirect Chase direct Our origination growth has been driven by our Manufacturing partnerships We continue to invest in strengthening our partnerships 2012-2017 CAGR 6% (6%) 21% 7% Our lease penetration has grown in partnership with our Manufacturers, remaining within industry averages3 12% 29% 20% 30% 2012 2017 Chase Industry Lease penetration Originations by channel Manufacturing partners Support lease growth through prudent risk framework Dealer financing Leverage JPMC suite of products Digital engagement Improve digital customer experience Auto Finance NPS1 ▲ 10 points Auto finance bank lender2 #3 4.2% share ▼ ~40bps Auto EOP loans and leases $83B ▲ 53% Since 2012… Note: For footnoted information, refer to slide 92 37

J P M C I N T E R N A L U S E O N L Y Sales and market share continue to increase for small business cards B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Significant opportunity to grow market share and deepen relationships CCB – Business Banking We have seen strong gains in small business primary bank market share2 New initiatives expected to continue driving growth in Business Banking 2016 2017 12% Net sales for Ink up 14% Total market share for small business card up 20bps YoY3 Small business card net sales (incl. Ink and partner card) Single application has helped drive an increase in new to bank multi-product engagement4 25% Deposit and Card 12% Deposit and Merchant Services Primary bank market share2 #3 8.7% share ▲ 250bps Business Banking NPS1 ▲ 20 points +500 bankers over next 5 years dedicated to small and middle market businesses Since 2012… Chase Business Online Single application WePay Bill.com Chase Business Quick Capital Bankers and new markets 6.2% 8.7% 9.5% 9.4% 9.6% 9.4% 2012 2013 2014 2015 2016 2017 JPM BAC WFC Note: For footnoted information, refer to slide 93 Business Banking average loans ▲ 28% $23B +250bps market share Small business primary bank market share 38

J P M C I N T E R N A L U S E O N L Y Corporate & Investment Bank – steady, consistent strategy Leading client franchise B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Sustaining our lead across three horizons #2 in TS revenue3 #3 in AUC4 #1 Global, North America, EMEA IB fees1 Global Research Firm2 #1 Markets3 Well positioned to benefit from global wallet growth, driven by emerging markets over decades Note: For footnoted information, refer to slide 94  Product digitization  Client experience  Seamless integration  Multi-channel accessibility  Markets powered by artificial intelligence  New technologies for custody and settlements  Global payments platform  Organic growth  Efficiencies and cost discipline  Regulatory change management  Risk management discipline Optimizing our current model Transforming for the future Maintaining day-to-day discipline #1 39

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Continue to return above cost of capital CIB – Markets Fixed Income Overall Client activities generate stable revenue $18.9 2017 $21.0 2016 Client Solutions Financing- related Flow Markets revenue1 ($B) Flow-driven revenue 8.9% 9.7% 11.2% 11.0% 2014 2015 2016 2017 Monetization Client activity3 Market Share2 Markets ROE – fully loaded 13% 16% 13% 12% Equities and Prime 2016 2017 F u ll y l o a d e d R O E f o r M a rk e ts b u s in e s s e s 1 NOT TO SCALE Equities and Prime M a rg in a l R O E f o r M a rk e ts b u s in e s s e s 4 Fixed Income Overall Markets ROE – marginal Cost of capital Cost of capital NOT TO SCALE Fixed Income Overall Note: For footnoted information, refer to slide 95 2016 2017 Total global industry market share 40

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Preserve our leading positions and deepen our share CIB – Markets Number of JPM top 3 positions across 31 Markets categories2 Key priorities  Defend our leadership positions  Leverage our scale and completeness  Continue to invest in Cash Equities and maximize synergies with Prime  Capture linkages between Banking and Markets  Seize opportunities presented by electronification across markets 61% 84% 39% 16% 2012 2017 Top 3 Non Top 3 $148 $126 $116 $107 $114 $104 9.2% 9.9% 9.3% 10.3% 11.7% 11.4% 2012 2013 2014 2015 2016 2017 #1 #1 #1 #1 #1 Rank Market share Total wallet $56 $64 $61 $66 $57 $56 7.7% 7.8% 8.0% 8.8% 10.1% 10.3% 2012 2013 2014 2015 2016 2017 Co- #1 #3 #3 #3 #3 Rank Market share Total wallet #1 #2 FICC – total wallet and JPM positioning ($B)1 Equities & Prime – total wallet and JPM positioning ($B)1 Prime Services Share Rank #2 #3 #2 #3 #3 #2 13.8% 11.3% 10.7% 10.4% 10.4% 12.0% Note: For footnoted information, refer to slide 96 41

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Significant progress in M&A – preserving strong positions in ECM and DCM CIB – Investment Banking $14 $14 $18 7.1% 7.4% 7.1% 2012 2016 2017 $20 $25 $24 6.4% 8.3% 8.6% 2012 2016 2017 M&A industry wallet ($B) and JPM wallet share (%) trend ECM industry wallet ($B) and JPM wallet share (%) trend Industry wallet JPM share Industry wallet JPM share $35 $37 $39 8.2% 7.8% 8.3% 2012 2016 2017 Industry wallet JPM share DCM industry wallet ($B) and JPM wallet share (%) trend Source: Dealogic as of January 1, 2018. ECM excludes shelf deals. DCM excludes money market, short-term debt Key priorities JPM rank #2 JPM rank #1 #1 #2 JPM rank #1  Senior banker hires in targeted areas  Continue to focus on transformational cross-border transactions  Collaboration and partnership across the Firm to seamlessly deliver offerings to clients  Partner with the CB to better serve Middle Market clients  Partner with the Private Bank to better serve Family Offices  Capture linkages between Banking and Markets #2 #2 #1 #1 42

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Growth through investments in innovative product and platform offerings CIB – Treasury Services 1 Coalition. 2016 and preliminary 2017 regional rank analysis based on peer-set: BAML, BNPP, CITI, DB, HSBC, SG, SCB, and WFC, and reflects JPMorgan Chase business structure. ~ ~ 2016 2017 Treasury Services performance Key priorities  Develop scalable core payment platforms and provide low cost services  Focus on innovation in an agile and flexible manner  Continue to improve the client experience by simplifying the onboarding process and through flexible channels  Provide best in class controls  Strengthen position in international markets and follow clients where they grow especially as new trade corridors are established JPM CIB Treasury Services market rankings 2016 2017 Revenue up 15% 2016 2017 Operating margin up 9ppts 2016 2017 Expenses down 2% Regional Rankings1 2016 2017 North America #2 #2 EMEA #5 #4 APAC #4 #4 LATAM #3 #2 Operating balances up 10% Strong growth in revenue and operating balances Continued expense discipline and improved operating margin Op. margin Pre-tax Income Revenue 43

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Investments have improved client experience – positioned for growth CIB – Securities Services 2016 2017 Net Interest Income Fees Securities Services performance Key priorities Delivering service excellence  $1.3T BlackRock win will be the largest transition in the industry and leverages our full suite of products  Highest ever client satisfaction and retention levels Positioning for growth  Our investments align with the priorities of our clients  Improved data and analytics  Middle office solutions  Comprehensive Emerging Market capabilities  Enhanced ETF servicing platform Creating scale and efficiency  Improving operating margin and delivering scale through increased investment in technology Revenue up 9% Strong growth in revenue with record AUC levels $20.5T $23.5T 2016 2017 Improved operating efficiency and operating margin 2016 2017 Tech Ops Combined Tech and Ops expense down 4% 2016 2017 Pre-tax Income Revenue Op. margin Operating margin up 8ppts AUC 44

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Commercial Banking – building our business around our clients Leading client franchise #1 U.S. multifamily lender2 1 Based on total count of client-facing employees 2 The rank is based on S&P Global Market Intelligence as of 12/31/2017 1,800 bankers1 50 of the top 50 MSAs 16 specialized industries Core principles of CB model ■ Well-defined segmentation ■ Local delivery ■ Industry specialization Coverage aligned to client needs ■ Leading IB solutions ■ Digitally-enabled ■ Flexible across clients’ lifecycle Broad-based differentiated capabilities ■ Simplicity ■ Speed of delivery ■ Transparency Intense client focus 45

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Commitment to growth – investing to add great clients and deepen relationships Commercial Banking Increased calling intensity (000s)2 Banker count up 100+ YoY1 Working to deliver value to clients Growing expansion market revenue in Middle Market Banking ($mm) 1,506 1,642 1,766 2015 2016 2017 796 911 1,062 2015 2016 2017 Driving new relationships2 151 171 197 2015 2016 2017 $53 $139 $232 $298 $329 $353 $411 $519 $1,000 2010 2011 2012 2013 2014 2015 2016 2017 LT target Note: The prior period amounts have been revised to conform w ith the current period presentation 1 Based on total count of client-facing employees 2 Excludes Commercial Term Lending 46

J P M C I N T E R N A L U S E O N L Y Deposits ~80% of CB clients have deposit accounts with JPMC2 B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Unmatched capabilities – investing to deliver more value to clients Commercial Banking Traditional middle market Broad-based capabilities to serve clients’ evolving needs 1 Represents the percentage of CIB’s North America IB fees generated by Commercial Banking clients, excluding fees from fixed income and equity markets w hich is included in Commercial Banking gross investment banking revenue 2 Excluding Commercial Term Lending Clients Investment Banking 38% of N.A. IB fees from CB clients1 Treasury Services ~90% of CB clients use treasury service capabilities2 International Serving 2,000+ international clients, with presence in 24 international cities Merchant Services End-to-end solutions leveraging access to the #1 wholly-owned merchant acquirer 16 Specialized Industries ~50% of C&I clients covered within specialized industries Asset & Wealth Management ~$135B in Asset Management AUM from CB clients Loans Loan growth outpacing industry across both C&I and CRE Commercial Card >$20B of total annual card spend 47

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Lending – deliver smart growth across our C&I and CRE loan portfolio Commercial Banking $53 $90 $102 2012 2016 2017 Average CRE loans outstanding ($B) $68 $89 $96 2012 2016 2017 Average C&I loans outstanding ($B)1 How we compete High quality portfolio Benefiting from investments in expansion markets and specialized industry coverage Credit quality remains strong – average 6bps NCOs since 2011; 5bps in 2017 Maintaining proven client selection and risk discipline Note: CB’s Commercial and Industrial (“C&I”) and Commercial Real Estate (“CRE”) groupings used herein are generally based on client segments and do not align w ith regulatory definitions 1 Includes asset-based loans 2 Quarter-over-quarter annualized Deep client relationships and speed of execution, in markets we know Selective around new commitments in construction High quality, granular loan portfolio – average 4bps NCOs since 2011; (1)bp in 2017 YoY 1Q17 8% 2Q17 9% 3Q17 8% 4Q17 6% QoQ Ann2 4Q17 6% YoY 1Q17 17% 2Q17 15% 3Q17 13% 4Q17 9% QoQ Ann2 4Q17 5% 48

J P M C I N T E R N A L U S E O N L Y Asset & Wealth Management – focus on client outcomes B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Note: For footnoted information, refer to slide 97 Leading client franchise 83%1 5 yr Investment performance $3.1T2 client assets #1 Private Bank (North America/ LatAm) $120B+3 deposits and loans  Best of J.P. Morgan and Chase  Integrated coverage model leveraging the whole Firm  Rigorously focus on pain points across the client journey  Mobile first – digital everything  Human & digitally enhanced advice  Fiduciaries across all asset classes and the entire wealth spectrum  Active & passive  Excel where we can be a market leader  Exit where we don’t have competitive advantages AWM priorities Digitize everything Obsess about client experience Investments for everyone Simplify for growth 49

J P M C I N T E R N A L U S E O N L Y 17% Return on equity $9.4B Net income 56% Overhead ratio B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Continued strong financial performance Asset & Wealth Management Record Client assets (EOP, $T) Revenue ($B) Pretax income ($B) $2.1 $2.5 $2.8 2012 2016 2017 $2.8 $3.5 $3.6 2012 2016 2017 $10.0 $12.0 $12.9 2012 2016 2017 LT Asset flows $84B Pretax margin 28% ROE 25% Loans (Avg.) $123B Deposits (Avg.) $149B 20 1 7 50

J P M C I N T E R N A L U S E O N L Y B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Leading long-term performance, consistently strong flows, product innovation JPMC Wealth Management and Asset Management #2 in total flows over past 5 years2 Total 5Y long-term client asset flows ($B) $388 $279 $272 $270 Peer 1 Peer 2 JPMC $961 Peer 3 Peer 4 Positive client asset flows every year beginning in 2004 Total JPMAM 2017 % of JPMAM long-term mutual fund AUM over peer median1 (net of fees) 5-year 1-year 10-year 86% 83% 64% 87% 91% 75% 81% 70% 52% 90% 85% 91% Equity Fixed Income Multi-Asset Solutions & Alternatives 257% >74% 50-74% 25-49% 0-24% +10% pts YoY +16% pts +6% pts YoY +5% pts YoY Constantly innovating and refining our offering FY 2017 Funds launched Funds merged / liquidated 24 20 12 10 4 1 16 15 34 4 3 71 72 YoY 3 4 5 6 7 Note: For footnoted information, refer to slide 98 Equity Fixed Income Multi- Asset Beta Alts. Liquidity Total launched Total merged/liquidated 51

J P M C I N T E R N A L U S E O N L Y Complementing client portfolios with banking and liquidity products JPMC Wealth Management and Asset Management B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Note: For footnoted information, refer to slide 99 Growing deposits 2013 2012 $181 2015 2014 2016 $294 2017 JPMC WM1 year-end balance ($B) Non-op  $20B Other  $36B $1.4 $1.4 $1.5 $1.7 $1.7 $1.8 Net charge-offs (%) Jumbo Mortgages Loans (ex-mortgages) ~96% with secured collateral …with strong risk management 0.08 0.03 0.03 0.10 0.01 0.01 2017 2016 2012 AWM: $146B CWM: $147B Growing credit book… JPMC WM1 year-end spot balance ($B) Lending Jumbo mortgages4 3% % of JPMC WM clients with loan facilities 5 2017 $134 2016 2015 2014 2013 2012 $87 Leading liquidity business growing and capturing share $537 $470 +3% CAGR 2017 2016 2015 2014 2013 2012 11.2% 11.7% Market Share3: JPMAM Global Liquidity AUM2 (EOP, $B) Average balance of PB deposit clients ($mm) 52

J P M C I N T E R N A L U S E O N L Y Hiring client advisors and increasing productivity JPMC Wealth Management and Asset Management B U S I N E S S P E R F O R M A N C E A N D S T R A T E G Y U P D A T E S Note: For footnoted information, refer to slide 100 Continued investment in growing client advisors and increasing productivity will drive further client asset and pretax income growth Pretax income ($B) Client assets ($T) Client advisors (#) BLK $5.3 JPMC1 $5.5 MS $4.8 WFC $4.3 UBS $4.2 BAC $5.0 BLK2 $6.3 UBS3 $3.5 MS3 $2.9 BAC3 $2.6 WFC4 $2.4 JPMC1 $3.1 BAC5 20K MS 16K UBS 11K JPMC1 6K BLK N/A WFC6 15K Becoming more productive (Rev./Avg. Client Advisor) 2012 2017 >50% 53

J P M C I N T E R N A L U S E O N L Y Outlook Power of the franchise 54

J P M C I N T E R N A L U S E O N L Y Operating environment Outlook O U T L O O K Expect favorable global macro and credit trends to benefit our operating performance Global macro trends Credit environment  Global GDP growth continues to be above trend  Consumer and business confidence, as well as sentiment, remain very strong  Developed markets close to full employment, which should drive higher wages and inflation  U.S. consumer balance sheet remains relatively healthy  Consumer debt service burdens near record lows given low interest rates  Corporate debt ratios near a 20-year high – however, interest coverage ratios remain within normal range due to continued low rate environment Recession risk  Current economic and fiscal indicators suggest low risk of a near-term recession 55

J P M C I N T E R N A L U S E O N L Y Fortress balance sheet – core loans Outlook O U T L O O K 2014 2015 2016 2017 CCB AWM CB CIB Average core loans ($B) $597 $671 $769 $830 Expect 2018 core loan growth ex-CIB of 6-7% 16% 7% 12% Core loan growth (ex. CIB) ’14 -’17 CAGR ’16 -’17 YoY 9% 9% 11% 9% 13% CBB: 9% 35% 6% 7% 7% 8% 13% 8% 3% 6% 4% (1%) HL: Card: CCB ex-HL: Auto: 56

J P M C I N T E R N A L U S E O N L Y Fortress balance sheet – deposits Outlook O U T L O O K Note: For footnoted information, refer to slide 101 Continue to focus on growth in retail and operating deposits Dec'14 2015 2016 2017 CCB AWM Operating Non-Operating Other Average deposits ($T) $1.4 $1.3 $1.4 Deposit growth (ex. non-op) ’16 -’17 YoY $1.3 9% 6% 9% 11% 6% 8% (3%) (2%) 2 6 4 3 6,7 3 (5%) (22%) 1 ’14 -’17 CAGR 5 57

J P M C I N T E R N A L U S E O N L Y 20.0% 17.5% 15.0% 12.5% 10.0% 7.5% 5.0% 2.5% - (2.5%) (5.0%) (25.0%) (20.0%) (15.0%) (10.0%) (5.0%) - 5.0% 10.0% 15.0% 20.0% 25.0% '99 '00 '01 '02 '03 '04 '05 '06 14.1% 8.5% ~0% 3.9% (1.5%) (0.9%) Whole- sale Total Retail Large Small Retail¹ JPM Industry Both quantitative tightening and rate hikes will likely cause migration of deposits Outlook O U T L O O K Bank deposit growth % per $1T change in Fed B/S (based on 2004-2017 data) Wholesale & retail deposit YoY growth (%) & money market vs. deposit yield spread (%)  Quantitative tightening should reduce total banking system deposits, with the primary impact in wholesale  As rates normalize, spread between money market fund (MMF) rates and deposit rates expected to widen  Retail deposit growth should slow  Recycled MMF balances could drive wholesale deposit growth Money market fund vs. deposit yield spread Retail deposit growth2 Wholesale deposit growth1 4% 1% 1% <1% 1% 2% 3% Commentary Note: For footnoted information, refer to slide 102 58

J P M C I N T E R N A L U S E O N L Y O U T L O O K Net interest income – well positioned on strength of balance sheet and rising rates Outlook Longer-term NII growth will be driven mostly by balance sheet growth and mix Forward looking NII drivers  Deposit repricing Markets NII  Balance sheet growth & mix Rates  From here to neutral rate environment, expect to realize ~$2.5B of net rate benefit $44.6 $51.4 $54-55 2015 NII Change 2017 NII Change 2018 Net interest income ($B) ~$7B realized incremental NII  Assumes continued benefit from slower deposit reprice  Includes lower Markets NII B/S growth & mix Estimated rates impact Includes lower Markets NII 59

J P M C I N T E R N A L U S E O N L Y Low rates paid beta partly reflects lack of intra-product migration thus far in the cycle Outlook O U T L O O K 1 2004 cycle dates: 06/04-06/06; quarterly results shown above. Excludes earnings credit rate (“ECR”) impact 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 Ra te s pa id (% ) Fed Funds target (%) Deposit repricing (2004 cycle vs. current cycle)¹ Noninterest-bearing deposits Interest-bearing (ex-time) deposits Time deposits In the 2004 cycle, rates paid increased 70bps after the last 25bps hike in June 2006 Current cycle: assumes >50% deposit reprice beta 2004 cycle: ~50% deposit reprice beta <20% beta for the first 100bps of rate hikes in 2004 and 2015-17 No new news – cumulative reprice in line with prior cycle at this stage 34% 6% 5% 47% 64% 66% 19% 30% 29% 2007 2016 2017 Deposit mix shift change 60

J P M C I N T E R N A L U S E O N L Y ($0.4) ($0.9) ($0.9) $0.4 $2.2 $51.9 $52.2 Noninterest revenue ($B) Noninterest revenue trajectory Outlook O U T L O O K 2016 20172016 2017 Cash AUM LT AUM Markets revenue IB fees 2016 2017 2016 20172016 2017Debit sales volume CWM investments 2016 2017 AWM AUM CBB Expect ~7% NIR growth in 2018, and ~3% CAGR going forward, market dependent CIB revenue Auto – avg. operating lease assets CB – gross IB revenue 15% 38%7% 17% 14% 2%(12)% 4 12% Card sales volume 2018 NIR: $1.0B+ reversal of headwinds in Markets & Card ≤ $2.5B of growth Home Lending headwinds 2016 Card headwinds1 Markets ex- notable items2 Other notable items3 Growth 2017 ~7% YoY and ~3% CAGR exclude ~$1.2B increase from revenue recognition accounting change Note: For footnoted information, refer to slide 103 61

J P M C I N T E R N A L U S E O N L Y 2017 Growth / efficiencies Investments Auto lease depreciation 2018 Adjusted expense2 ($B) Adjusted expense – continuing to fund investments and growth Outlook O U T L O O K Driving efficiencies while accelerating and increasing investments 2018 technology spend of ~$10.8B and gross marketing spend of ~$5.7B4 Adjusted overhead ratio 57%2 ~$28 ~$9 ~$3 ~$20 ~$2 < $62 $58.5 $(1.1) $1.1 $2.7 $0.7 Excludes ~$1.2B of revenue recognition accounting change  Technology: $1.4  Real estate: $0.4  Rev producers3: $0.4  Marketing: $0.3  Other: $0.2  CCB: $1.2B  CIB: $0.5B  CB: $0.2B  AWM: $0.3B  Corporate: $0.5B Corporate CB AWM CCB CIB 1 Grow th and eff iciencies also include other offsetting non-core items, including benefits associated w ith the elimination of the FDIC surcharge Note: Numbers may not sum due to rounding. For footnoted information, refer to slide 104 1 62

J P M C I N T E R N A L U S E O N L Y Credit – net charge-offs Outlook O U T L O O K 1 Excludes the impact of purchased credit-impaired (“PCI”) loans. Refer to note 5 on slide 76 Commentary  Medium-term outlook relatively benign  Expect 2018 and medium-term NCO rates to remain relatively flat across businesses  Expect Card charge-offs and reserves to be higher on seasoning of newer origination vintages Credit fundamentals remain strong across our businesses Net charge-off rates Consumer & Community Banking Corporate & Investment Bank Commercial Banking Asset & Wealth Management 2017 Medium-term guidance +/- Home Lending1 Card Auto Business Banking 0.02% 2.95% 0.51% 0.57% 0.05% 3.25 -3.50% 0.45% 0.60% 0.07% 0.10% 0.02% 0.10% 0.01% 0.10% Firmwide $4.9B $5.4B including $0.5B student, exited 2Q17 63

J P M C I N T E R N A L U S E O N L Y Medium-term guidance by LOB Outlook O U T L O O K  Up to 300bps potential benefit to Firmwide ROTCE from tax reform  Significant uncertainty around how competitive dynamics evolve  Expect some benefit to pass to customers over time Medium-term target Revenue Expense Credit costs Capital Medium-term target ex-tax reform Tax reform ~ 15% ~ 15% ≤300bps 2017 Investor Day 2018 InvestorDay CIB CB CCB Previous ROE 14% +/- 15% +/- 25% +/- 20% +/- AWM Revised ROE ~ 17% ~ 18% ~ 35% 25% + Medium-term targets 54% +/- 35% +/- 30% +/- (pretax margin) 50% +/- OH Target (%) Benefits from tax reform Firmwide medium-term ROTCE walk New LOB ROE targets reflect the impact of tax reform and growth ~ ~ 64

J P M C I N T E R N A L U S E O N L Y Medium-term pretax earnings simulation Outlook O U T L O O K Medium-term pretax simulation ($B) In the medium-term expect ROTCE of ~17% ~100% Net payout ratio ~17% ROTCE ~55% Overhead ratio 11-12% CET1 ratio 2017 Pretax income $40B Medium-term pretax income $44-47B ~ Simulation assumptions Credit costs  Credit costs up on loan growth – add ~10bps higher NCO rate  NIR CAGR of 4-5%, market dependent2 NIR  ~55% OH ratio Expense Pretax of $39.4B ex-sig items¹ 1 Excludes the impact of the enactment of TCJA of ($0.15)B pre-tax in 4Q17 and a legal benefit of $0.65B pre-tax in 2Q17. See note 4 on slide 76 2 Excludes ~$1.2B annual increase from new revenue recognition accounting rule; expect ~7% NIR grow th in 2018, and ~3% CAGR going forward NII  Normalized rate environment – NII uplift driven more by balance sheet than rate over longer term  Core loan CAGR of 5-6% 65

J P M C I N T E R N A L U S E O N L Y Proven operating model – positioned for success O U T L O O K Complete Diversified Global Scale ~100% Net payout ratio ~17% ROTCE ~55% Overhead ratio 11-12% CET1 ratio Leading to Mobile first – digital everything – multi-channel delivery Long-term strategic focus on growth and profitability Customer centric Execute with discipline – capital, expense and controls $ € ¥ £ Deeply integrated – payments as a holistic solution World-class technology and data capabilities 66

J P M C I N T E R N A L U S E O N L Y Reference materials 67

J P M C I N T E R N A L U S E O N L Y A P P E N D I X Leading client franchises Note: For footnoted information, refer to slides 105-106 Client franchises built over the long-term  Relationships with ~50% of U.S. households  Industry leading deposit growth12  #1 U.S. credit card issuer13  #1 U.S. co-brand credit card issuer14  #1 U.S. credit and debit payments volume15  #2 merchant acquirer16  86% of 10-year LT mutual fund AUM in top 2 quartiles22  #2 in 5-year cumulative LT client asset flows among publicly traded peers  #1 Private Bank in North America and Latin America23  Revenue and LT AUM growth >90% since 2006  Unparalleled platform capabilities – competitive advantage  Top 3 in overall middle market, large middle market and asset-based lending bookrunner21  Industry-leading credit performance – 6th straight year of net recoveries or single digit NCO rate  >80% of Fortune 500 companies do business with us  #1 in both North America & EMEA IB fees 17  #1 in Global Long-Term Debt & Loan Syndications 17  #1 FICC productivity18  Top 3 Custodian globally with AUC of $23.5T19  #1 in USD payment volumes with 20% share in 201720 2006 2016 2017 Deposits market share1 3.6% 8.3% 8.7% # of top 50 Chase markets where we are #1 ( top 3) 11 (25) 14 (38) 16 (40) Average deposits growth rate 8% 10% 9% Active mobile customers growth rate n/m 16% 13% Credit card sales market share2 15.9% 21.5% 22.4% Merchant processing volume3 ($B) $661 $1,063 $1,192 Global IB fees4 #2 #1 #1 Market share 4 8.7% 7.9% 8.1% Total Markets revenue5 #8 #1 #1 Market share 5 6.3% 11.2% 11.0% FICC5 #7 #1 #1 Market share 5 7.0% 11.7% 11.4% Equities5 #8 #2 co-#1 Market share 5 5.0% 10.1% 10.3% # of MSAs with Middle Market banking presence6 26 47 50 Multifamily lending7 #28 #1 #1 Gross investment banking revenue ($B) $0.7 $2.3 $2.3 Mutual fun s with a 4/5 star rating8 119 220 235 Ranking of long-term client asset flows9 n/a #2 #2 Active UM market share 10 1.8% 2.5% 2.4% North A rica Private Bank (Euromoney) #1 #1 #1 Clie t a sets market share 11 3% 4% 4% AWM CCB CIB CB 68

J P M C I N T E R N A L U S E O N L Y LOB performance and guidance A P P E N D I X Performance and guidance  2018  Medium-term (3 years)  Long-term (5+ years) Time period legend 2016 2017 Guidance Guidance time period Card Services net revenue rate 11.29% 10.57% 11.25%+/-  Overhead ratio 55% 56% 50%+/-  ROE 18% 17% 25%+  Revenue $35.2B $34.5B ~$37B  Overhead ratio 54% 56% 54%+/-  ROE 16% 14% ~17%  Middle Market expansion revenues $0.4B $0.5B $1.0B  Investment Banking revenues $2.3B $2.3B $3.0B  International revenues $0.3B $0.3B $0.5B  Overhead ratio 39% 39% 35%+/-  ROE 16% 17% ~18%  LT AUM flows growth 2% 5% 4%+/-  Revenue growth (1%) 7% 5%+/-  Pretax income growth 10% 1% 10%+/-  Pretax margin 29% 28% 30%+/-  ROE 24% 25% ~35%  CCB CIB CB AWM 69

J P M C I N T E R N A L U S E O N L Y F I X E D I N C O M E Capital markets funding sources Continuing to optimize funding mix Note: Numbers may not sum due to rounding. For footnoted information, refer to slide 107 Secured funding highlights  Long-term secured debt  $61B FHLB advances  $21B credit card securitization  Short-term secured debt  $18B collateralized commercial paper1  $3B asset-backed commercial paper Unsecured funding highlights  Long-term unsecured debt  $156B senior debt  $17B subordinated debt3  $46B structured notes  Commercial paper  $24B  Used to support CIB Markets business Long-term unsecured debt 41% Other borrowed funds 2% Commercial paper 4% ABCP/CCP 4% Securities loaned/repo agreements 28% Long-term secured debt 16% Preferred Stock 5% Capital markets liabilities as of 12/31/17 ($B) $2,534 $258 $256 Total liabilities & stockholders’ equity Secured funding Deposits Trading liabilities Common stockholders’ equity Preferred stock Unsecured funding Accounts payable and other liabilities2 1 1 $1,444 $124 $196 $230 $26B 70

J P M C I N T E R N A L U S E O N L Y F I X E D I N C O M E JPMorgan Chase & Co. (HoldCo) unsecured long-term debt outstanding Managing maturity profile and TLAC efficiency Note: Numbers may not sum due to rounding; amounts represent the carrying value. For footnoted information, refer to slide 107 Holding Company unsecured long-term debt maturity profile ($B) Maturity profile includes $19 $13 $22 $15 $10 $69 $5 $26 2018 2019 2020 2021 2022 >2022 TLAC eligible TLAC callable notes Non-TLAC eligible  $31B of TLAC callable notes2 issued since August 2016  ~$19B of debt classified as structured notes, of which ~$15B is TLAC eligible $13 $21 $22 $21 $11 $97 1 3 2 71

J P M C I N T E R N A L U S E O N L Y F I X E D I N C O M E JPMorgan Chase & Co. (HoldCo) benchmark issuance Reduced issuance requirements as TLAC compliance was achieved 19 10 3 9 12 5 4 6 15 $32 $28 $23 2015 2016 2017 <5 Yrs 5-10 Yrs 10+ Yrs Gross issuance by security type ($B) Gross issuance by currency ($B) Gross issuance by tenor ($B)1 Gross issuance by structure ($B) 28 27 23 3 6 $38 $28 $25 2015 2016 2017 Senior debt Sub debt Preferred equity 32 21 6 8 25 $38 $28 $25 2015 2016 2017 Bullet TLAC Callable 27 24 23 8 4 3 $38 $28 $25 2015 2016 2017 USD EUR Other Achieved TLAC compliance in Q3 2017 Credit spreads inf luence issuance tenor Emphasis on optimizing debt structure ~7 yrs ~15 yrs Non-USD issuance driven by relative value and diversif ication benefits WAM2: ~8 yrs 3 Note: Numbers may not sum due to rounding. For footnoted information, refer to slide 107 72

J P M C I N T E R N A L U S E O N L Y F I X E D I N C O M E Firmwide long-term funding outstanding Note: Numbers may not sum due to rounding. For footnoted information, refer to slide 108 End of period outstanding ($B) 141 143 149 21 20 17 21 24 27 17 12 8 72 80 61 30 33 21 12 13 19 $183 $136 $188 $140 $192 $113 HoldCo & Other Subs Bank Subs HoldCo & Other Subs Bank Subs HoldCo & Other Subs Bank Subs Senior unsecured Subordinated debt Structured notes FHLB Credit Card Securitization Other secured debt 2015 2016 2017 1 3 ~8 years ~3 years WAM: 2 4 4 4 73

J P M C I N T E R N A L U S E O N L Y F I X E D I N C O M E TLAC and External LTD requirement summary Compliance reached in 2017 Note: Numbers may not sum due to rounding 1 Includes ~$15B of debt classif ied as structured notes $17 $154 $168 $160 $6 $19 $6 2017 – 10K disclosure Structured notes, TruPs & other Debt with <1 yr maturity Debt eligible for external TLAC 50% haircut on LTD 1-2 yr maturity External LTD Sub debt & Jr Sub Senior debt Commentary Holding Company – External long-term debt at 12/31/2017 ($B)  Achieved TLAC compliance in Q3 2017  Intend to hold management buffer to cover changes in FX rates and balance sheet as well as unexpected funding market volatility  Issuance planning considers  Balance sheet evolution  TLAC maturities  Credit spreads and other market considerations  Preferred and sub debt issuance needs based on capital planning requirements and replacement economics TLAC Requirements $185 1 Key Metrics ($B) (at 12/31/2017) External TLAC External long-term debt Eligible Long-term Debt $160 $154 Preferred Equity 26 -- Common Equity Tier 1 183 -- Total $370 $154 % of RWA 24.5% 10.2% Requirement 23.0% 9.5% (Shortfall)/Surplus $22 $11 % of Leverage Assets 11.5% 4.8% Requirement 9.5% 4.5% (Shortfall)/Surplus $65 $10 74

J P M C I N T E R N A L U S E O N L Y F I X E D I N C O M E Wholesale funding sources – Purpose and key features Note: excludes deposits and common equity. For footnoted information, refer to slide 108 Secured Funding Product Typical term Callable Multi- currency TLAC T1/T2 Reg. Cap. LCR NSFR 4 4 Asset-Backed Commercial Paper Generally < 1 year2 7 7 7 4 7 7 7 Card Securitization 1-10 years 7 7 7 4 7 7 7 4 4 7 4 7 7 4 4 7 4 4 7 7 4 7 7 7 7 Ba nk Unsecured Senior Debt 2-30 years 4 4 FHLB Borrowing Generally < 5 years2 4 Structured Notes 2-30 years 4 4 Certificates of Deposit Generally < 1 year 7 7 4 7 Securities loaned / Repo agreements Generally <6 months 7 4 7 4 7 7 7 Br ok er -D ea le r Commercial Paper Generally < 1 year2 7 4 Ho ld Co Structured Notes 2-30 years 4 Collateralized Commercial Paper Generally < 1 year2 7 4 Preferred Stock Perpetual 4 7 Subordinated Debt 10-30 years1 4 4 4 4 4 / 7 4 4 4 4 4 4 7 4 4 7 Available to meet regulatory requirement 4 4 4 4 Senior Unsecured 2-30 years 4 4 2 4 23 2 3 3 2 2 5 2 75

J P M C I N T E R N A L U S E O N L Y Notes on non-GAAP financial measures and key performance measures N O T E S Notes on non-GAAP financial measures 1. In addition to analyzing the Firm’s results on a reported basis, management review s Firmw ide results, including the overhead ratio, on a “managed” basis; these Firmw ide managed basis results are non-GAAP financial measures. The Firm also review s the results of the lines of business on a managed basis. The Firm’s definition of managed basis starts, in each case, w ith the reported U.S. GAAP results and includes certain reclassif ications to present total net revenue for the Firm and each of the reportable business segments on a fully taxable-equivalent (“FTE”) basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These f inancial measures allow management to ass ess the comparability of revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded w ithin income tax expense. These adjustments have no impact on net income as reported by the Firm as a w hole or by the lines of business. For a reconciliation of the Firm’s results from a reported to managed basis, see page 52 of the Firm’s Annual Report on Form 10-K for the year ended December 31, 2017 (“2017 Form 10-K”) 2. Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share (“TBVPS”), are non-GAAP financial measures. TCE represents the Firm’s common stockholders’ equity (i.e., total stockholders’ equity less preferred stock) less goodwill and identif iable intangible assets (other than MSRs), net of related deferred tax liabilities. For a reconciliation from common stockholders’ equity to TCE, see page 54 of the 2017 Form 10-K. ROTCE measures the Firm’s net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm’s TCE at period-end divided by common shares at period-end. Book value per share w as $67.04 at December 31, 2017. TCE, ROTCE, and TBVPS are meaningful to the Firm, as w ell as investors and analysts, in assessing the Firm’s use of equity 3. Adjusted expense and adjusted overhead ratio are non-GAAP financial measures. Adjusted expense excluded Firmw ide legal expense/(benefit) of $(35) million for the year ended December 31, 2017. The adjusted overhead ratio measures the Firm’s adjusted expense as a percentage of adjusted managed net revenue, w hich excluded a legal benefit of $645 million for the year ended December 31, 2017. Management believes this information helps investors understand the effect of these items on reported results and provides an alternate presentation of the Firm’s performance 4. On December 22, 2017, the Tax Cuts & Jobs Act (“TCJA”) w as signed into law . Full-year 2017 results reflect the estimated impact of the enactment of the TCJA, w hich resulted in a $145 million decrease to managed revenue and a $2.4 billion decrease to net income. The full year results also included a legal benefit of $406 million (after-tax) related to a settlement w ith the FDIC receivership for Washington Mutual and w ith Deutsche Bank as trustee to certain Washington Mutual trusts. Net income, EPS, ROTCE and TBVPS excluding the impact of these signif icant items are non-GAAP financial measures. Management believes these measures help investors understand the effect of these items on reported results as w ell as facilitate a comparison w ith the performance of peers 5. Net charge-off (“NCO”) rates exclude purchased credit-impaired (“PCI”) loans; this is a non-GAAP financial measure. For a reconciliation of the NCO rates, including the impact of PCI loans, see pages 59-60 of the 2017 Form 10-K Notes on key performance measures 6. The Basel III supplementary leverage ratio (“SLR”), to w hich the Firm w as subject to since January 1, 2018, and the Basel III Fully Phased-In common equity Tier 1 (“CET1”) capital, risk-w eighted assets (“RWA”) and the CET1 ratio to w hich the Firm w ill be subject on January 1, 2019, are all considered key regulatory capital measures. The capital adequacy of the Firm is evaluated against the Basel III approach (Standardized or Advanced) that results in the low er ratio as required by the Collins Amendment of the Dodd-Frank Act (the “Collins Floor”). These measures are used by management, bank regulators, investors and analysts to assess and monitor the Firm’s capital position. For additional information on these measures, including the Collins Floor, see Capital Risk Management on pages 82-91 of the 2017 Form 10-K 7. Core loans represent loans considered central to the Firm’s ongoing businesses; core loans exclude loans classif ied as trading assets, runoff portfolios, discontinued portfolios and portfolios the Firm has an intent to exit 76

J P M C I N T E R N A L U S E O N L Y Notes on slide 2 – Our brands have never been stronger 1. Tied 2017 Greenwich Quality Leader 2. Tied 2017 Greenwich Quality Leader 3. U.S. Large Corporate Cash Management 4. Chase received the highest numerical Equity Score among bank brands included in the 2017 Harris Poll EquiTrend® Study, which is based on opinions of 102,617 U.S. consumers ages 15 and over surveyed online between December 30, 2016 and February 21, 2017 5. “How Chase Made the Perfect High for Credit Card Junkies,” Bloomberg, September 2016 6. Based on JPMorgan Chase data 7. Ownership measures responses to the question: “Which of these financial service providers do you use for your category?” (Categories include a wide range of financial products like personal checking accounts, investments or retirement accounts, credit cards, etc.) 8. Consideration measures responses to the questions: “The next time you are in the market for a financial product or service, how likely are you to consider the following providers?” (Definitely would not consider; Probably would not consider; Probably would consider; Definitely would consider) 9. Familiarity measures responses to the question “Which of the following best describes your familiarity with each financial service provider below?” (Never heard of; Heard of, but not familiar; Somewhat familiar; Very familiar) 10. Awareness measures aided awareness of the brand N O T E S 77

J P M C I N T E R N A L U S E O N L Y Notes on slide 3 – Attractive footprint with strong positioning across the U.S. and globally 1. North America client assets and client advisors include Asset & Wealth Management (“AWM”) and Chase Wealth Management (“CWM”), with CWM client assets including all CWM investments and all Chase Private Client (“CPC”) deposits 2. Commercial Banking (“CB”) international revenue denotes non-U.S. revenue from U.S. multinational clients, and number of countries excludes U.S. N O T E S 78

J P M C I N T E R N A L U S E O N L Y Notes on slide 4 – Strong absolute and relative performance N O T E S 1. See note 1 on slide 76 2. GS and MS showing reported revenue 3. Net income, EPS, ROTCE and TBVPS adjusted for the impact of enactment of the TCJA; If also adjusted for the 2Q17 legal benefi t of $406mm, JPM net income was $26.5B, EPS was $6.87 (up 11% YoY and up 5% for the 10-year CAGR), and ROTCE was 13% 4. Managed overhead ratio = total noninterest expense / managed revenue; revenue for GS and MS is disclosed on a reported basis only 5. JPMorgan Chase adjusted overhead ratio of 57%. See note 3 on slide 76 6. See note 2 on slide 76 79

J P M C I N T E R N A L U S E O N L Y N O T E S 1. Reflects Basel III binding Fully Phased-In measure 2. See note 6 on slide 76 3. Global Systemically Important Bank (“GSIB”) 4. Total Loss-Absorbing Capacity (“TLAC”) external long-term debt short-fall 5. Liquidity coverage ratio (“LCR”) and net stable funding ratio (“NSFR”) 6. See note 1 and 3 on slide 76 7. Represents the Federal Reserve's Dodd-Frank Act Stress Test ("DFAST") estimates under the severely adverse scenario published on June 23, 2016 and June 22, 2017, respectively Notes on slide 5 – Continue to operate from a position of strength…across all key dimensions 80

J P M C I N T E R N A L U S E O N L Y Notes on slide 9 – Digital capabilities are critical to our business N O T E S 1. Deloitte, “Millennials and Wealth Management” – 2015 2. Capgemini, “2014 World Wealth Report” 3. Novantas Customer Knowledge, USA Multi-channel survey; 2015 (N=4,346), 2017 (N=4,351); Question: “Please rank up to three things a bank could do to be the most convenient bank for your financial needs.” Reflects responses of: “Leading online/mobile banking” and “They ha ve a branch location near my home” 4. J.P. Morgan online survey of over 400 institutional investors – October 2017 5. Greenwich Associates Market Pulse 68 – November 2017 6. EY, “Could your clients’ needs be your competitive advantage?” – 2016 81

J P M C I N T E R N A L U S E O N L Y Notes on slide 10 – The business case for digital is compelling 1. For digitally engaged households 2. Reflects Consumer Bank; Consumer Bank household channel segments are defined based on the tenure of the household as of the respective time period. For households with tenure of greater than 12 months, we use the following thresholds calculated over a year: Digitally-centric – <=4 branch visits and 12+ digital transactions or 100+ digital log-ins or 24+ external ACH transactions per year; Multi-channel – >4 branch visits and 12+ digital transactions or 100+ digital log-ins or 24+ external ACH transactions per year; Branch-centric – >4 branch visits and <12 digital transactions and <100 digital log-ins and <24 external ACH transactions per year; Other – <=4 branch visits and <12 digital transactions and <100 digital log-ins and <24 external ACH transactions per year. For households that are less than 12 months on book, we reduce the thresholds by 75% and track the household activity over a three-month time period. Digitally-engaged households includes Digitally-centric households and Multi-channel households. All other households includes Branch-centric households and Other households 3. Net Promoter Score = % promoters minus % detractors. Based on Net Promoter Score data collected from December 2016 through November 2017 4. Retention rates are based on Consumer Bank households with deposit products and exclude households that closed all of their deposit products with Chase. Retention rate for each Consumer Bank household channel segment is calculated by reclassifying households into segments each month based on their channel activity and by taking an average of the annualized monthly rates for the last 12 months as of November 2017 5. Includes Consumer Bank households that had at least one credit transaction and one debit transaction in 2017. Normalized for number of customers per household 6. MyPrivateBanking Research, “Digital and Mobile Solutions for Financial Advisors 2015” 7. Since 2012, based on clients who have logged onto digital platforms in prior 90 days 8. For primary bank customers, simple average across seven age cohorts of the percentage by which average deposit and investment balances per household for digitally engaged households exceed non-digitally engaged households. These seven age cohorts are: Greatest Generation (born 1900- 1927), Silent Generation (born 1928 – 1945), Baby Boomers (born 1946 – 1964), Generation X (born 1965-1980), Old Millennials (born 1981-1989), Young Millennials (born 1990-1997), and other / age not available 9. Represents, for 2017, the estimated annual benefit of the statements suppressed in CCB (i.e., digital vs. paper) 10. Cost differential calculated using variable cost only N O T E S 82

J P M C I N T E R N A L U S E O N L Y Notes on slide 12 – Enhancing the client onboarding process across the bank N O T E S 1. Reflects new-to-bank, multi-product business households after three full months of activity; accounts opened between May through October 2017 vs. 2016 2. Monthly low risk WM “Know Your Customer” (“KYC”) completion time for median client, December 2017 vs. May 2015 3. Reflects accounts opened through Finn or digital account opening for existing customers; less than 8 minutes for new customers 4. For existing customers 83

J P M C I N T E R N A L U S E O N L Y Notes on slide 13 – Customers rely on Chase digital offerings throughout their daily lives N O T E S 1. All data reflects average for the 12 months of 2017. Engagement metrics reflect average number of transactions per active users where active users are defined as customers who make at least one transaction during the period. Digital wallet transactions include Android Pay, Apple Pay, Chase Pay and Samsung Pay 2. Average for the 12 months of 2017; reflects average alerts received per card user who received at least one purchase threshold alert 3. Data reflects 4Q17; users of all online and/or mobile platforms who have logged in within the past 90 days 84

J P M C I N T E R N A L U S E O N L Y Notes on slide 14 – We seek to offer innovative digital solutions across products and asset classes 1. Reflects accounts opened through Finn 2. Net Promoter Score = % promoters minus % detractors; as of December 2017 3. Comparison relative to mortgages refinanced through the Consumer Direct (phone) channel. Improvements reflect the monthly ave rage for 4Q17 4. Reflects 4Q17 vs. 4Q16 N O T E S 85

J P M C I N T E R N A L U S E O N L Y Notes on slide 21 – A rapidly evolving payments landscape creates opportunities across our businesses 1. The Boston Consulting Group Global Payments 2016: Competing in Open Seas 2. World Trade Organization. Represents 2016 world-wide imports for merchandise trade 3. USD messages received by SWIFT for fiscal year 2017 4. SWIFT – December YTD2017 5. The Nilson Report, Issue 1122, December 2017. Data as of 2016 6. "2017 P2P Market Sizing: Moving into High Gear," Javelin Strategy & Research, 2017. Market size includes online and mobile person-to-person transfers via bank and non-bank providers, and excludes wire transfers through banks and money services businesses 7. The Nilson Report, Issue 1105, March 2017. Data as of 2016 8. Reflects 2017 9. Excludes Commercial Card 10. Includes Firmwide QuickPay with Zelle transactions; reflects 2017 11. The Nilson Report, Issue 1122, December 2017 12. World Trade Organization: trade outlook indicator, February 12, 2018 13. “2017-2021 Retail Point of Sale Payment Forecast," Javelin Strategy & Research, November 2017. Growth represents CAGR from 2017 to 2021 N O T E S 86

J P M C I N T E R N A L U S E O N L Y N O T E S 1. Reflects the percentage of the CCB customer population active in each payment category as of October 2017. “Move money” services include all the digital services to send payments (e.g., Wire, Transfer, Bill Pay, and QuickPay with Zelle) and/ or receive payments (e.g., Quick Deposit, QuickPay with Zelle, Internal Transfer) outside of debit and credit card payments. Customers who are active across payments services include those who engage in debit and credit card payments, digital wallet payments, and “move money” services 2. Reflects 30-day active credit and debit card customers; data as of October 2017 3. Includes firmwide QuickPay with Zelle transactions; reflects 2017 4. Reflects the percent of credit card customers who had a sales transaction between October 2017 and December 2017 and also had an embedded payment during that same period. An embedded payment is defined as a transaction at a recurring bill merchant, mobile wallet, or one of Chase’s defined set of embedded payment merchants 5. Based on full-year 2017 sales volume disclosures by peers and JPMorgan Chase estimates. Excludes private label and Commercial Card 6. “2017 P2P Market Sizing: Moving into High Gear,” Javelin Strategy & Research, 2017. P2P market size includes online and mobile person-to-person transfers via bank and non-bank providers, and excludes wire transfers through banks and money services businesses Notes on slide 22 – We are well-positioned to deliver modern payments experiences 87

J P M C I N T E R N A L U S E O N L Y Notes on slide 32 – Consumer & Community Banking – the power of our Consumer franchise 1. Reflects November 2017 2. Reflects 4Q17 3. Reflects users of all web and/or mobile platforms who have logged in within the past 90 days 4. Excludes Commercial Card N O T E S 88

J P M C I N T E R N A L U S E O N L Y Notes on slide 33 – Leading industry deposit growth driven by multi-channel engagement model 1. J.D. Power 2017 National Bank Satisfaction Study, September 2017 2. FDIC 2017 Summary of Deposits survey per S&P Global Market Intelligence. Excludes all branches with $500mm+ in deposits within the last two years (excluded branches are assumed to include a significant level of commercial deposits or are headquarter branches for direct banks). Includes all commercial banks, credit unions, savings banks, and savings institutions as defined by the FDIC. Comparisons to 2012 exclude all branches with $500mm+ in deposits within the last ten years. National banks include Wells Fargo, Bank of America, Citi, and U.S. Bancorp and Capital One. Super regional banks include all other top 50 banks by deposits 3. Primary relationship based on JPMorgan Chase definition 4. Reflects Consumer Bank; Consumer Bank household channel segments are defined based on the tenure of the household as of the respective time period. For households with tenure of greater than 12 months, we use the following thresholds calculated over a year: Digitally-centric – <=4 branch visits and 12+ digital transactions or 100+ digital log-ins or 24+ external ACH transactions per year; Multi-channel – >4 branch visits and 12+ digital transactions or 100+ digital log-ins or 24+ external ACH transactions per year; Branch-centric – >4 branch visits and <12 digital transactions and <100 digital log-ins and <24 external ACH transactions per year; Other – <=4 branch visits and <12 digital transactions and <100 digital log-ins and <24 external ACH transactions per year. For households that are less than 12 months on book, we reduce the thresholds by 75% and track the household activity over a three-month time period. Digitally-engaged households includes Digitally-centric households and Multi-channel households 5. Based on total branch visits from 4Q16 through 3Q17 by all CCB customers 6. Reflects 4Q17 7. For primary bank customers, simple average across seven age cohorts of the percentage by which average deposit and investment balances per household for digitally engaged households exceed non-digitally engaged households. These seven age cohorts are: Greatest Generation (born 1900- 1927), Silent Generation (born 1928 – 1945), Baby Boomers (born 1946 – 1964), Generation X (born 1965-1980), Old Millennials (born 1981-1989), Young Millennials (born 1990-1997), and other / age not available N O T E S 89

J P M C I N T E R N A L U S E O N L Y Notes on slide 35 – We continue to grow and innovate our credit card portfolio 1. Net Promoter Score = % promoters minus % detractors 2. Excludes Commercial Card 3. Estimated industry market size reflects disclosed U.S. full-year 2017 Visa, MasterCard, American Express and Discover payments volume 4. Represents share of general purpose credit card ("GPCC") spend, which excludes private label and Commercial Card; based on co mpany fillings and JPMorgan Chase estimates 5. Reflects Federal Reserve Consumer Credit (G.19) release as of February 7, 2018. Growth reflects change in total revolving cre dit from December 2012 to December 2017 6. The Nilson Report, Issue 1105, March 2017. Data as of 2016. Chase is the #1 wholly-owned merchant acquirer in the U.S. When volume from joint ventures and revenue sharing arrangements are included in First Data’s volume, First Data holds #1 share position in the U.S. 7. Reflects self-reported income at time of application 8. Reflects sales per average open account over the last twelve months 9. Defined as number of cards with greater than zero gross sales divided by total open accounts 10. Defined as open accounts as a percentage of total cumulative booked accounts as of December 2017 11. Compares credit card spend pre-Sapphire Reserve vs. post-Sapphire Reserve acquisitions for existing Chase card customers only. Post-acquisition spend reflects spend through December 2017. Excludes spend from acquisitions post-September 2017 N O T E S 90

J P M C I N T E R N A L U S E O N L Y Notes on slide 36 – We continue to build a higher quality and less volatile home lending business 1. Net Promoter Score = % promoters minus % detractors 2. Federal Reserve Bank of New York Quarterly Report on Household Debt and Credit, February 2018 release; reflects 4Q17 vs. 4Q12 Mortgage and Home Equity Revolving EOP balances 3. Inside Mortgage Finance (“IMF”) and JPMorgan Chase internal data. Includes Private Bank originations 4. Primarily includes loans held in Real Estate Portfolios, as well as loans residing in Home Lending Production and Home Lendin g Servicing, which are predominantly prime mortgage loans repurchased from Government National Mortgage Association (“Ginnie Mae”) pools, which are insured by U.S. government agencies 5. Includes runoff portfolios, which are predominantly discontinued products no longer originated and PCI loans 6. IMF 2012 through 2017; 2018F and 2019F reflect average of forecasts from Fannie Mae (1/10/2018), Freddie Mac (1/5/2018), and Mortgage Bankers Association (“MBA”) (1/20/2018) 7. Excludes Home Equity and Private Bank loans 8. Reflects data as of November 2017 9. JPMorgan Chase data N O T E S 91

J P M C I N T E R N A L U S E O N L Y Notes on slide 37 – We continue to grow our auto originations and deepen our relationships 1. Net Promoter Score = % promoters minus % detractors 2. Experian AutoCount data for full-year 2017; reflects financing market share for new and used loans and leases at franchised and independent dealers; auto finance bank lenders are non-captive auto lenders 3. Lease penetration represents new vehicles only; calculated as total leased units divided by vehicle sales for both Chase Auto Finance (Source: OEM Partners) and Industry (Source: Autocount). Chase Auto Finance reflects penetration of total OEM partner sales volume N O T E S 92

J P M C I N T E R N A L U S E O N L Y Notes on slide 38 – Significant opportunity to grow market share and deepen relationships 1. Net Promoter Score = % promoters minus % detractors 2. Barlow Research Associates, Primary Bank Market Share Database as of 4Q17. Rolling eight quarter average of small businesses with revenues of $100K – <$25mm 3. Reflects JPMorgan Chase estimates 4. Reflects new-to-bank multi-product business households after three full months of activity; accounts opened between May through October 2017 vs. 2016 N O T E S 93

J P M C I N T E R N A L U S E O N L Y Notes on slide 39 – Corporate & Investment Bank – steady, consistent strategy 1. Dealogic as of January 1, 2018 2. Institutional Investor, 2017 3. Source: Coalition. Preliminary 2017 rank analysis for Markets based on Coalition Index (BAML, BARC, BNPP, CITI, CS, DB, GS, H SBC, MS, JPM, SG, and UBS), for Treasury Services based on peer-set (BAML, BNPP, CITI, DB, HSBC, SG, SCB, and WFC), and reflects JPMorgan Chase’s business structure 4. Source of assets under custody (“AUC”): Company filings N O T E S 94

J P M C I N T E R N A L U S E O N L Y Notes on slide 40 – Continue to return above cost of capital 1. 2017 ROE and revenue exclude the impact of the TCJA in Fixed Income Markets and a fair value loss on a margin loan related to a single cli ent in Equity Markets; 2016 ROE is restated to reflect 2017 methodology and a constant capital basis of $70B 2. Coalition. 2017 based on preliminary results. Market share reflects JPMorgan Chase’s share of the global industry revenue poo l, and reflects JPMorgan Chase’s business structure 3. Client activity measure used primarily for sales and client management as a proxy for volume 4. Marginal ROE based on 2017 data N O T E S 95

J P M C I N T E R N A L U S E O N L Y Notes on slide 41 – Preserve our leading positions and deepen our share 1. Coalition. 2017 based on preliminary results. Rank analysis based on Coalition Index (BAML, BARC, BNPP, CITI, CS, DB, GS, HSBC, MS, JPM, SG, and UBS). Market share reflects JPMorgan Chase’s share of the global industry revenue pool. Market share & rank analysis based on JPMorgan Chase’s business structure 2. Coalition. 2017 based on preliminary results. Regional rank analysis based on Coalition Index (BAML, BARC, BNPP, CITI, CS, DB , GS, HSBC, MS, JPM, SG, and UBS), and reflects JPMorgan Chase’s business structure N O T E S 96

J P M C I N T E R N A L U S E O N L Y Notes on slide 49 – Asset & Wealth Management – focus on client outcomes N O T E S 1. The “5 yr Investment performance” analysis represents the proportion of assets in mutual funds that are ranked above their respective peer category median on a 5-year basis as of December 31, 2017. All quartile rankings, the assigned peer categories and the asset values used to derive this analysis are sourced from Lipper for the U.S. and Taiwan domiciled funds; Morningstar for the U.K., Luxembourg and Hong Kong domiciled funds; Nomura for Japan domiciled funds and FundDoctor for South Korea domiciled funds. Includes only Asset Management retail open-ended mutual funds that are ranked by the aforementioned sources. Excludes money market funds, Undiscovered Managers Fund, and Brazil domiciled funds. Qu artile rankings are done on the net-of-fee absolute return of each fund. The data providers redenominate the asset values into U.S. dollars. This % of AUM is based on fund performance and associated peer rankings at the share class level for U.S. domiciled funds, at a “primary share class” level to represent the quartile ranking of the U.K., Luxembourg and Hong Kong funds and at the fund level for all other funds. The “primary share class”, as defined by Morningstar, denotes the share class recommended as being the best proxy for the portfolio and in most cases will be the most retail version (based upon annual management charge, minimum investment, currency and other factors). Where peer group rankings given for a fund are in more than one “primary share class” territory both rankings are included to reflect local market competitiveness (applies to “Offshore Terr itories” and “HK SFC Authorized” funds only). The performance data could have been different if all funds/accounts would have been included. Past performance is not indicative of future results 2. Includes all Chase Wealth Management Investments (“CWM”) and all Chase Private Client (“CPC”) deposits 3. 2017 average balances 97

J P M C I N T E R N A L U S E O N L Y Notes on slide 51 – Leading long-term performance, consistently strong flows, product innovation N O T E S 1. The “% of 2017 JPMAM long-term mutual fund AUM over peer median” analysis represents the proportion of assets in mutual funds that are ranked above their respective peer category median on 1, 5, and 10 year basis as of December 31, 2017. All quartile rankings, the as signed peer categories and the asset values used to derive this analysis are sourced from Lipper for the U.S. and Taiwan domiciled funds; Morningsta r for the U.K., Luxembourg and Hong Kong domiciled funds; Nomura for Japan domiciled funds and FundDoctor for South Korea domiciled funds. Includes only Asset Management retail open-ended mutual funds that are ranked by the aforementioned sources. Excludes money market funds, Undiscovered Managers Fund, and Brazil domiciled funds. Quartile rankings are done on the net-of-fee absolute return of each fund. The data providers redenominate the asset values into U.S. dollars. This % of AUM is based on fund performance and associated peer rankings at the share class level fo r U.S. domiciled funds, at a “primary share class” level to represent the quartile ranking of the U.K., Luxembourg and Hong Kong funds and at the fund level for all other funds. The “primary share class”, as defined by Morningstar, denotes the share class recommended as being the best proxy for the por tfolio and in most cases will be the most retail version (based upon annual management charge, minimum investment, currency and other factors). Where peer group rankings given for a fund are in more than one “primary share class” territory both rankings are included to reflect local market competitiveness (applies to “Offshore Territories” and “HK SFC Authorized” funds only). The performance data could have been different if all funds/accounts would have been included. Past performance is not indicative of future results. The classifications in terms of product categories shown are J.P. Morgan’s own 2. Source: Company filings, J.P. Morgan estimates. Peers include BLK, MS, UBS, and GS. UBS converted into USD at average 2013 -2017 exchange rate 3. Long-term AUM 4. Long-term AUM, administration, brokerage, custody, and deposit for AWM, CWM investments, and new-to-firm CPC deposits 5. Long-term AUM, fee-generating brokerage, and deposits in fee-generating brokerage accounts 6. Long-term AUM, brokerage, and deposit 7. Long-term AUM and brokerage 98

J P M C I N T E R N A L U S E O N L Y 1. Pro-forma, reflecting AWM’s Wealth Management business (“WM”) plus CWM investments and CPC deposits 2. Includes assets managed on behalf of other JPMAM investment teams 3. Source: iMoneynet as of February 23, 2018 4. Includes HELOCs and $1.1B of CIO portfolio mortgage loans for AWM clients, with <5% of conforming loans 5. Percent of combined WM and CPC clients with loan facilities Notes on slide 52 – Complementing client portfolios with banking and liquidity products N O T E S 99

J P M C I N T E R N A L U S E O N L Y Notes on slide 53 – Hiring client advisors and increasing productivity N O T E S Source: Company filings, J.P. Morgan estimates. UBS converted into USD at the average daily 2017 exchange rate for pre -tax income and the spot exchange rate as of December 31, 2017 for client assets 1. Includes AWM and CWM, including all CWM investments and CPC deposits. Client assets include total AUM, administration, brokerage, custody, and deposits 2. Total AUM 3. Total AUM, brokerage, custody, and deposits 4. Total AUM, brokerage, and deposits 5. Total primary sales professionals, including financial advisors and wealth advisors 6. Retail Brokerage financial advisors 100

J P M C I N T E R N A L U S E O N L Y Notes on slide 57 – Fortress balance sheet – deposits N O T E S 1. To ensure consistent comparison over time, years prior to 2017 have been adjusted for certain methodology changes regarding the classification of operating and non-operating deposits 2. Represents operating and retail/SME ("small and medium enterprise") deposits within the CIB, CB and Corporate lines of busine sses based on the U.S. LCR rule. Excludes operating and retail/SME deposits in CCB and AWM 3. Represents non-operating deposits within the CIB, CB and Corporate lines of businesses based on the U.S. LCR rule, and includes all certificates of deposits in Corporate. Excludes non-operating deposits in CCB and AWM 4. Other includes collateralized deposits, margin cash deposits in CIB, and certain time deposits 5. Represents the average for December 2014 vs. the full-year 2017 average 3-year CAGR 6. December 2014 and full-year 2015 balances include the commercial paper sweeps product, which was discontinued in 2015 7. FY2015 balances are partially based on an average of weekly spot numbers 101

J P M C I N T E R N A L U S E O N L Y Notes on slide 58 – Both quantitative tightening and rate hikes will likely cause migration of deposits N O T E S 1. Large time deposit growth has been adjusted for the slope of the yield curve based on regression analysis: large time deposit YoY % change = −0.69 + 5 * (1 year forward 1 month swap rate − spot 1 month overnight indexed swap) + 5.7 * spread differential between money market funds (“MMF”) and retail deposit proxy 2. Retail deposit growth adjusted for M2 based on regression: retail deposit YoY % change = 1.476 + 1.2 * M2 deposits YoY% chang e − 2.1 * spread differential between MMF and retail deposit proxy 102

J P M C I N T E R N A L U S E O N L Y Notes on slide 61 – Noninterest revenue trajectory N O T E S 1. Includes investments in Sapphire Reserve and other notable items 2. Notable items in Markets exclude revaluation of tax-oriented investments related to the TCJA in 2017 and a fair value loss on a margin loan to a single client 3. Other notable items include a legal benefit related to a settlement with the FDIC receivership for Washington Mutual and with Deutsche Bank as trustee to certain Washington Mutual trusts, revaluation of tax-oriented investments related to the TCJA, and a fair value loss on a margin loan to a single client 4. Markets includes both NII and NIR 103

J P M C I N T E R N A L U S E O N L Y Notes on slide 62 – Adjusted expense – continuing to fund investments and growth 1. Growth and efficiencies also include other offsetting non-core items, including benefits associated with the elimination of the FDIC surcharge 2. See note 3 on slide 76 3. Includes compensation associated with growth in revenue producers 4. Gross marketing includes ~$2.5B of Card “SFAS 91” acquisition costs, which are recognized as contra revenue and are not included in 2018 adjusted expense N O T E S 104

J P M C I N T E R N A L U S E O N L Y Notes on slide 68 – Leading client franchises N O T E S 1. FDIC 2017 Summary of Deposits survey per S&P Global Market Intelligence. Excludes all branches with $500mm+ in deposits withi n the last two years (which are assumed to include a significant level of commercial deposits or are headquarter branches for direct banks). Inclu des all commercial banks, credit unions, savings banks, and savings institutions as defined by the FDIC. 2006 excludes Washington Mutual Bank (“WaMu”) and Bank of New York branch purchases 2. Represents share of general purpose credit card (“GPCC”) spend, which excludes private label and Commercial Card; based on peer company filings and JPMorgan Chase estimates 3. The 2006 figure reflects First Data joint venture 4. IB fees market share for all periods presented are based on wallet data from Dealogic as of January 1, 2018 5. Coalition. 2017 based on preliminary results. 2016 and 2017 rank analysis based on Coalition Index (BAML, BARC, BNPP, CITI, C S, DB, GS, HSBC, MS, JPM, SG, and UBS). Market share reflects JPMorgan Chase’s share of the global industry revenue pool. Market share & rank anal ysis based on JPMorgan Chase business structure. 2006 rank analysis is based on JPMorgan Chase analysis 6. Represents Top 50 Metropolitan Statistical Areas (“MSA”) where CB has a presence 7. Includes the commercial term lending portfolio acquired in the 2008 WaMu transaction. S&P Global Market Intelligence based on FDIC data as of 12/31/17 8. Represents the “overall star rating” derived from Morningstar for the U.S., the U.K., Luxembourg, Hong Kong and Taiwan domici led funds; and Nomura “star rating” for Japan domiciled funds. Includes only Asset Management retail open -ended mutual funds that have a rating. Excludes money market funds, Undiscovered Managers Fund, and Brazil domiciled funds 9. Source: Company filings and JPMorgan Chase estimates. Rankings reflect competitors in the peer group with publicly reported f inancials and 2017 client assets of at least $500B as follows: Allianz, BAC, BEN, BK, BLK, CS, GS, IVZ, MS, TROW, UBS. JPMorgan Chase’s ranking reflects AWM long-term AUM, administration, brokerage, custody, and deposits, Chase Wealth Management investments, and new-to-firm Chase Private Client deposits 10. Strategic Insight as of February 6th, 2018 11. Capgemini World Wealth Report 2017. Market share estimated based on 2016 data (latest available) 12. FDIC 2017 Summary of Deposits survey per S&P Global Market Intelligence. Excludes all branches with $500mm+ in deposits withi n two years (excluded branches are assumed to include a significant level of commercial deposits or are headquarter branches for direct banks). Inc ludes all commercial banks, credit unions, savings banks, and savings institutions as defined by the FDIC 105

J P M C I N T E R N A L U S E O N L Y Notes on slide 68 – Leading client franchises N O T E S 13. Based on 2017 sales volume and loans outstanding disclosures by peers (C, BAC, COF, AXP, DFS) and JPMorgan Chase estimates. Sales volume excludes private label and Commercial Card. AXP reflects the U.S. Consumer segment and JPMorgan Chase estimates for AXP’s U.S . small business sales. Loans outstanding exclude private label, AXP Charge Card, and Citi Retail Cards 14. “Credit Card Monitor 2017: Cobrand Market Shares by Issuer,” Phoenix, for 12 -month period ending October 2017. Based on card accounts, revolving balance dollars and spending dollars 15. The Nilson Report, Issue 1108, April 2017. Data as of 2016 16. The Nilson Report, Issue 1105, March 2017. Data as of 2016. Chase is the #1 wholly-owned merchant acquirer in the U.S. When volume from joint ventures and revenue sharing arrangements are included in First Data’s volume, First Data holds the #1 share position in the U.S. 17. Dealogic as of January 1, 2018 18. Coalition. Preliminary FY 2017 revenues divided by Front-Office full-time equivalents for the first-half of 2017 19. Source of Assets under custody (“AUC”): Company filings 20. SWIFT volume report as of December YTD17 21. Thomson Reuters LPC as of FY17 22. The “10-year LT mutual fund AUM in top 2 quartiles” analysis represents the proportion of assets in mutual funds that are ranked above their respective peer category median on a 10-year basis as of December 31, 2017. All quartile rankings, the assigned peer categories and the ass et values used to derive this analysis are sourced from Lipper for the U.S. and Taiwan domiciled funds; Morningstar for the U.K., Luxembourg an d Hong Kong domiciled funds; Nomura for Japan domiciled funds and FundDoctor for South Korea domiciled funds. Includes only Asset Management retail open-ended mutual funds that are ranked by the aforementioned sources. Excludes money market funds, Undiscovered Managers Fund, and Brazil domi ciled funds. Quartile rankings are done on the net-of-fee absolute return of each fund. The data providers redenominate the asset values into U.S. dol lars. This % of AUM is based on fund performance and associated peer rankings at the share class level for U.S. domiciled funds, at a “primary share class” level to represent the quartile ranking of the U.K., Luxembourg and Hong Kong funds and at the fund level for all other funds. The “primary share class”, as defined by Morningstar, denotes the share class recommended as being the best proxy for the portfolio and in most cases will be the most retail version (based upon annual management charge, minimum investment, currency and other factors). Where peer group rankings given for a fund are in more than one “primary share class” territory both rankings are included to reflect local market competitiveness (applies to “Offshore Territories” and “HK SFC Authorized” funds only). The performance data could have been different if all funds/accounts would have been included. Past performance is not indicative of future results 23. Euromoney, 2017 results released February 2018 106

J P M C I N T E R N A L U S E O N L Y Notes on Fixed Income Slide 70 – Capital markets funding sources 1. The Firm’s obligations under the collateralized commercial paper ("CCP") programs are reported under other borrowed funds ("OBF") and securities loaned or sold under agreements to repurchase ("repo agreements"), in the amount of $14.3B and $3.4B, respectively as of December 31, 2017. The balances reflected above for OBF and securities loaned/repo agreements exclude balances related to the CCP programs. OBF incl udes ~$2B of short- term secured borrowings. Commercial Paper and OBF are included in short-term borrowings on the Firm's Consolidated balance sheets as of December 31, 2017 and 2016 2. Includes federal funds purchased, long-term securities loaned and structured repo agreements; and client-driven loan securitizations which are included in beneficial interests issued by consolidated variable interest entities on the Firm’s Consolidated balance sheets, totaling ~$7B as of December 31, 2017 3. Includes junior subordinated debt and trust preferred securities Slide 71 – JPMorgan Chase & Co. (HoldCo) unsecured long-term debt outstanding 1. Eligible long-term debt (“LTD”) with maturity > 1 year count toward the external TLAC (“total loss absorbing capacity”) requirement. Eligible LTD with a maturity > 2 years, plus 50% of eligible LTD with a maturity between 1-2 years count toward the external LTD requirement 2. Represents callable notes with an option to redeem 1 year prior to maturity 3. Non-TLAC eligible debt is approximately $0.5B for 2019, $0.4B for 2020, $0.2B for 2021, $0.2B for 2022 and $2.7B for >2022 Slide 72 – JPMorgan Chase & Co. (HoldCo) benchmark issuance 1. Excludes preferred equity issuance 2. Weighted average maturity (“WAM”) is calculated based on the final maturity of all unsecured long -term debt issuance 3. Represents callable notes with an option to redeem 1 year prior to maturity, except for callable preferred stock issuance N O T E S 107

J P M C I N T E R N A L U S E O N L Y Notes on Fixed Income Slide 73 – Firmwide long-term funding outstanding 1. Includes junior subordinated debt and trust preferred securities 2. Includes $1.8B and $1.5B of student loan securitizations in 2015 and 2016, respectively 3. Includes $0.5B of other secured debt in a HoldCo subsidiary in each of 2015 and 2016 4. Senior unsecured for Bank Subs includes $7.7B, $3.9B and $0.3B of subordinated debt in 2015, 2016 and 2017, respectively Slide 75 – Wholesale funding sources – Purpose and key features 1. Currently not optimal from a regulatory capital treatment perspective to issue with a tenor of less than 10 years 2. Commercial Paper (“CP”)/Collateralized Commercial Paper (“CCP”)/Asset-Backed Commercial Paper (“ABCP”) can be issued up to 397 days, except for puttable CP/CCP/ABCP, and any CP/CCP relying on the SEC rule 3(a)3 exemption, which has a maximum tenor of 270 days. Certifi cates of Deposit (“CD”) do not have a maximum contractual maturity. Federal Home Loan Bank (“FHLB”) advances can have a legal maturity of up to 30 years and can also be extendible. Net stable funding ratio (“NSFR”) reflects eligibility for maturities >365 days 3. CP, CCP and ABCP can be issued in callable format, but this feature is currently not optimal from a liquidity perspective 4. Multi-currency represents two or more currencies 5. Certain plain-vanilla debt that is classified as structured notes is TLAC-eligible N O T E S 108

J P M C I N T E R N A L U S E O N L Y Forward-looking statements N O T E S This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission and available on JPMorgan Chase & Co.’s website https://www.jpmorganchase.com/corporate/investor- relations/investor-relations and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements. 109