2Q23 Financial Results July 14, 2023 Exhibit 99
Pretax Net income EPS First Republic bargain purchase gain in Corporate $2,712 $2,712 $0.91 Net credit reserve build for First Republic ($1,162) ($883) ($0.30) Net investment securities losses in Corporate ($900) ($684) ($0.23) 2Q23 Financial highlights 1 See note 4 on slide 11 2 - Absorbing Capacity for the current period. See note 1 on slide 12 3 Standardized risk- 4 Cash and marketable securities represents HQLA and unencumbered marketable securities. Estimated for the current period. See note 2 on slide 12 5 See note 3 on slide 11 6 See note 1 on slide 11 7 certain liabilities of First Republic Bank from the Federal Deposit Insurance Corporation on May 1, 2023 8 Includes the net impact of employee issuances 9 10 The estimated bargain purchase gain reflects the estimated income taxes and therefore has the same impact pre- and post tax SIGNIFICANT ITEMS ($MM, EXCLUDING EPS) 10 Balance sheet Loans: average loans of $1.2T up 13% YoY and 10% QoQ Ex. FR7, average loans of $1.1T up 4% YoY and 1% QoQ Deposits: average deposits of $2.4T down 6% YoY and up 3% QoQ Ex. FR, average deposits of $2.3T down 8% YoY and up 1% QoQ CET1 capital of $236B2 Standardized CET1 capital ratio of 13.8%2; Advanced CET1 capital ratio of 13.9%2 Capital distributed Common dividend of $2.9B or $1.00 per share $1.8B of common stock net repurchases8 Net payout LTM of 32%9 Income statement 2Q23 net income of $14.5B and EPS of $4.75 Excluding significant items5, 2Q23 net income of $13.3B, EPS of $4.37 and ROTCE of 23% Managed revenue of $42.4B6 Expense of $20.8B and managed overhead ratio of 49%6 ROTCE1 25% CET1 capital ratios2 Std. 13.8% | Adv. 13.9% Total Loss-Absorbing Capacity2 $494B Std. RWA3 $1.7T Cash and marketable securities4 $1.4T Average loans $1.2T 1
First Republic integration update Onboarded ~5,100 former FRC employees on July 2, 2023; 85% were invited to join the firm and 91% accepted Focused on getting the sales force back in the market to win back customers FDIC and transaction settlement: The settlement process with the FDIC is on schedule Branches: 21 branches left behind with the FDIC; the remaining 63 are being actively evaluated for conversion to Chase, JPM Wealth Management or consolidation Systems integration: Developing the full migration plan for moving onto JPMC systems and products, targeting to be substantially complete in mid-2024 Strong client retention, with $6B net deposit inflows since acquisition Flows indicate that customers trust our balance sheet and the strength and confidence it provides Opportunity to outperform original expectations and accelerate our affluent strategy CLIENT RETENTION EMPLOYEE ENGAGEMENT CONTINUED PROGRESS ON MIGRATION 2
2Q23 Reported FR impact ex. FR 1Q23 2Q22 Net interest income $21.9 $0.9 $21.0 $0.2 $5.8 Noninterest revenue 20.5 3.1 17.4 (1.1) 1.0 Managed revenue1 42.4 4.0 38.4 (1.0) 6.7 Expense 20.8 0.6 20.2 0.1 1.5 Credit costs 2.9 1.2 1.7 (0.5) 0.6 Net income $14.5 $2.4 $12.1 ($0.5) $3.4 Net income applicable to common stockholders $14.0 $2.4 $11.6 ($0.6) $3.4 $4.75 $0.80 $3.95 ($0.15) $1.19 ROE2 20% 3% 17% 18% 13% ROTCE2,3 25 4 21 23 17 1,2 49 (4) 53 51 59 Memo: NII excluding Markets 4 $22.4 $0.9 $21.5 $0.5 $7.8 NIR excluding Markets 4 13.0 3.1 9.9 (0.2) (0.3) Markets revenue 7.0 - 7.0 (1.4) (0.8) Managed revenue1 42.4 4.0 38.4 (1.0) 6.7 Adjusted expense 5 $20.4 $0.6 $19.8 ($0.1) $1.1 Adjusted overhead ratio 1,2,5 48% (4)% 52% 51% 59% ex. FR $ O/(U) 2Q23 Financial results1 2Q23 Tax rate Effective rate: 17.7% Managed rate: 22.5%1,6 Note: Totals may not sum due to rounding 1 See note 1 on slide 11 2 Actual numbers for all periods, not over/(under) 3 See note 4 on slide 11 4 See note 2 on slide 11 5 See note 5 on slide 11 6 Reflects fully taxable- $B 2Q23 1Q23 2Q22 Net charge-offs $1.4 $1.1 $0.7 Reserve build/(release) 1.5 1.1 0.4 Credit costs $2.9 $2.3 $1.1 $B, EXCEPT PER SHARE DATA 2Q23 ROE O/H ratio CCB 38% 48% CIB 15% 55% CB 16% 33% AWM 29% 64% 3
2Q23 1Q23 2Q22 Risk-based capital metrics1 CET1 capital $236 $227 $207 13.8% 13.8% 12.2% 13.9 13.9 12.9 Basel III Standardized RWA $1,711 $1,647 $1,705 Leverage-based capital metric2 Firm SLR 5.8% 5.9% 5.3% Liquidity metrics3 Firm LCR 112% 114% 110% Bank LCR 129 140 169 Total excess HQLA $296 $368 $554 HQLA and unencumbered marketable securities 1,411 1,459 1,547 Balance sheet metrics Total assets (EOP) $3,868 $3,744 $3,841 Deposits (average) 2,387 2,320 2,532 Tangible book value per share5 79.90 76.69 69.53 Fortress balance sheet Note: Totals may not sum due to rounding 1 Estimated for the current period. See note 1 on slide 12 2 3 4 See note 4 on slide 12 5 See note 4 on slide 11 6 RWA impact shown for FR excludes the RWA of the securities acquired in the transaction 7 Reflects Net Income Applicable to Common Equity 8 Excludes AOCI on cash flow hedges and DVA related to structured notes 9 Includes net share repurchases and common dividends 10 Primarily CET1 capital deductions $B, EXCEPT PER SHARE DATA 4 1,647 55 (6) 14 1,711 AOCI Other8 101Q23 RWA 2Q23Capital Distributions9 Net income7 (29 bps) (53 bps) (9 bps) 13.8%13.8% 86 bps 5 bps STANDARDIZED CET1 RATIO (%)1 STANDARDIZED RISK-WEIGHTED ASSETS ($B)1 FR Impact6 (47 bps): Net income: 14 bps RWA: (53 bps) Other: (9 bps) FR Impact6 $63B: Loans: $47B Credit Risk ex. Loans: $16B FR impact 1Q23 Loans Credit Risk ex. Loans Market Risk 2Q23 4
Consumer & Community Banking1 KEY DRIVERS / STATISTICS ($B) DETAIL BY BUSINESS FINANCIAL PERFORMANCE (ex. FR)SELECTED INCOME STATEMENT DATA ($MM) KEY DRIVERS / STATISTICS ($B)3 Net income of $5.0B, up 61% YoY Revenue of $16.4B, up 31% YoY, driven by higher net interest income Expense of $8.3B, up 8% YoY, largely driven by higher compensation, including wage inflation and headcount growth, as well as higher marketing, partially offset by lower auto lease depreciation Credit costs of $1.5B NCOs of $1.3B, up $640mm YoY, predominantly driven by Card Services, as 30+ day delinquencies have returned to pre-pandemic levels Reserve build of $203mm, predominantly driven by loan growth in Card Services and changes in specific macroeconomic factors, largely offset by reduced borrower uncertainty 1 See note 1 on slide 11 2 See note 3 on slide 12 For additional footnotes see slide 13 CCB CIB CB AWM Corp. Ex. FR: Average loans up 5% YoY and 2% QoQ Average deposits down 6% YoY and flat QoQ EOP deposits down 6% YoY and 4% QoQ Active mobile customers up 10% YoY Debit & credit card sales volume up 7% YoY Client investment assets up 18% YoY and 7% QoQ 2Q23 ex. FR $ O/(U) Reported FR impact ex. FR 1Q23 2Q22 Revenue $17,233 $831 $16,402 ($54) $3,844 Banking & Wealth Management2 10,936 596 10,340 299 3,838 Home Lending 1,007 235 772 52 (229) Card Services & Auto 5,290 - 5,290 (405) 235 Expense2 8,313 37 8,276 211 618 Credit costs 1,862 408 1,454 52 693 Net charge-offs (NCOs) 1,251 - 1,251 199 640 Change in allowance 611 408 203 (147) 53 Net income $5,306 $293 $5,013 ($230) $1,905 2Q23 ex. FR Reported FR impact ex. FR 1Q23 2Q22 Average equity $54.3 $2.3 $52.0 $52.0 $50.0 ROE 38% - 38% 40% 24% Overhead ratio2 48 (2) 50 49 61 Average loans $518.3 $59.9 $458.4 $449.8 $436.6 Average deposits 1,157.3 47.2 1,110.1 1,113.0 1,180.5 Active mobile customers (mm)4 52.0 n.a. 52.0 50.9 47.4 Debit & credit card sales volume5 $424.0 $0.4 $423.6 $387.3 $397.0 2Q23 ex. FR Reported FR impact ex. FR 1Q23 2Q22 Banking & Wealth Management Business Banking average loans6 $19.6 - $19.6 $19.9 $22.8 Business Banking loan originations 1.3 - 1.3 1.0 1.2 Client investment assets (EOP) 892.9 150.9 742.0 690.8 628.5 Deposit margin 2.83% 0.01% 2.82% 2.78% 1.31% Home Lending Average loans $229.6 $57.2 $172.4 $172.1 $177.3 Loan originations7 11.2 1.1 10.1 5.7 21.9 Third-party mortgage loans serviced (EOP) 604.5 3.1 601.4 575.9 575.6 Net charge-off/(recovery) rate (0.05)% 0.02% (0.07)% (0.04)% (0.16)% Card Services & Auto Card Services average loans $187.0 - $187.0 $180.5 $158.4 Auto average loans and leased assets 82.1 - 82.1 80.3 83.4 Auto loan and lease originations 12.0 - 12.0 9.2 7.0 Card Services net charge-off rate 2.41% - 2.41% 2.07% 1.47% Card Services net revenue rate 9.11 - 9.11 10.38 9.59 Card Services sales volume5 $294.0 - $294.0 $266.2 $271.2 5
2Q23 1Q23 2Q22 Equity $108.0 $108.0 $103.0 ROE 15% 16% 14% Overhead ratio2 55 55 57 Comp/revenue 28 30 29 IB fees ($mm) $1,557 $1,654 $1,650 Average loans 227.3 228.1 218.0 Average client deposits4 647.5 633.7 722.4 Merchant processing volume5 600.1 558.8 539.6 Assets under custody ($T) 30.4 29.7 28.6 ALL/EOP loans ex-conduits and trade6 1.86% 1.81% 1.38% Net charge-off/(recovery) rate6 0.12 0.11 0.09 Average VaR ($mm) $44 $45 $52 $ O/(U) 2Q23 1Q23 2Q22 Revenue $12,519 ($1,081) $516 Investment Banking revenue 1,494 (66) 143 Payments2 2,451 55 932 Lending 299 32 (111) Total Banking 4,244 21 964 Fixed Income Markets 4,567 (1,132) (144) Equity Markets 2,451 (232) (628) Securities Services 1,221 73 70 Credit Adjustments & Other 36 189 254 Total Markets & Securities Services 8,275 (1,102) (448) Expense 6,894 (589) 84 Credit costs 38 (20) (21) Net income $4,092 ($329) $375 Corporate & Investment Bank1 KEY DRIVERS / STATISTICS ($B)3 Net income of $4.1B, up 10% YoY; revenue of $12.5B, up 4% YoY Banking revenue IB revenue of $1.5B, up 11% YoY, or down 7% excluding bridge book7 markdowns in the prior year IB fees down 6% YoY, driven by lower advisory fees Payments revenue of $2.5B, up 61% YoY Excluding the net impact of equity investments, primarily markdowns in the prior year, up 32%, predominantly driven by higher rates, partially offset by lower deposit balances Lending revenue of $299mm, down 27% YoY, predominantly driven by mark-to-market losses on hedges of retained loans, partially offset by higher net interest income Markets & Securities Services revenue Markets revenue of $7.0B, down 10% YoY Fixed Income Markets revenue of $4.6B, down 3% YoY, reflecting lower revenue in macro businesses, largely offset by higher revenue in the Securitized Products Group8 and Credit Equity Markets revenue of $2.5B, down 20% YoY, compared with a strong second quarter in the prior year Securities Services revenue of $1.2B, up 6% YoY, driven by higher rates, largely offset by lower fees and deposit balances Expense of $6.9B, up 1% YoY, driven by higher non-compensation expense, as well as wage inflation and headcount growth, largely offset by lower revenue-related compensation Credit costs of $38mm 1 See note 1 on slide 11 2 See note 3 on slide 12 For additional footnotes see slide 13 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE CCB CIB CB AWM Corp. 2 6
Commercial Banking1 KEY DRIVERS / STATISTICS ($B)2 Net income of $1.5B, up 54% YoY Revenue of $3.8B, up 42% YoY, predominantly driven by higher deposit margins, partially offset by lower deposit- related fees Payments revenue of $2.2B, up 79% YoY Investment Banking and Markets revenue, gross of $767mm, down 3% YoY Expense of $1.3B, up 12% YoY, predominantly driven by higher compensation, including front office hiring and technology investments, as well as higher volume-related expense Credit costs of $489mm Reserve build of $389mm, driven by updates to certain assumptions related to office real estate, as well as net downgrade activity in Middle Market NCOs of $100mm, predominantly driven by office real estate Average loans of $242B, up 10% YoY and up 2% QoQ C&I7 up 14% YoY and up 2% QoQ CRE7 up 7% YoY and up 1% QoQ Average deposits of $275B, down 8% YoY, driven by continued attrition in non-operating deposits, but up 3% QoQ, driven by inflows from new client acquisition, partially offset by continued attrition in non-operating deposits 1 See note 1 on slide 11 For additional footnotes see slide 13 FINANCIAL PERFORMANCE (ex. FR)SELECTED INCOME STATEMENT DATA ($MM) CCB CIB CB AWM Corp. 2Q23 ex. FR $ O/(U) Reported FR impact ex. FR 1Q23 2Q22 Revenue $3,988 $178 $3,810 $299 $1,127 Middle Market Banking 1,916 48 1,868 187 699 Corporate Client Banking 1,229 - 1,229 53 302 Commercial Real Estate Banking 806 130 676 34 86 Other 37 - 37 25 40 Expense 1,300 - 1,300 (8) 144 Credit costs 1,097 608 489 72 280 Net income $1,208 ($327) $1,534 $187 $540 2Q23 ex. FR Reported FR impact ex. FR 1Q23 2Q22 Average equity $29.5 $1.0 $28.5 $28.5 $25.0 ROE 16% (5)% 21% 18% 15% Overhead ratio 33 (2) 34 37 43 Payments revenue ($mm)3 $2,248 - $2,248 $2,028 $1,253 Investment Banking and Markets revenue, gross ($mm)4 $767 - $767 $881 $788 Average loans5 270.8 28.6 242.2 238.0 219.5 Average client deposits 275.2 - 275.2 266.0 300.4 Allowance for loan losses 4.7 0.6 4.2 3.6 2.6 Nonaccrual loans 1.1 0.0 1.0 0.9 0.8 Net charge-off/(recovery) rate6 0.15% (0.02)% 0.17% 0.06% 0.00% ALL/loans6 1.68 (0.04) 1.72 1.49 1.16 7
Asset & Wealth Management1 KEY DRIVERS / STATISTICS ($B)2 Net income of $1.1B, up 10% YoY Revenue of $4.6B, up 8% YoY, driven by higher deposit margins on lower balances and higher management fees on strong net inflows Expense of $3.2B, up 8% YoY, driven by higher compensation, including growth in private banking advisor teams, higher revenue-related compensation and the impact of Global Shares and JPMAM China AUM of $3.2T was up 16% YoY and client assets of $4.6T were up 20% YoY, driven by continued net inflows, higher market levels and the impact of the acquisition of Global Shares For the quarter, AUM had long-term net inflows of $61B and liquidity net inflows of $60B Average loans of $210B, down 3% YoY and down 1% QoQ Average deposits of $212B, down 21% YoY and down 6% QoQ 1 See note 1 on slide 11 2 Actual numbers for all periods, not over/(under); FR numbers represent applicable balance only for the period of the quarter from the date of the transaction, May 1, 2023 through June 30, 2023; FR contribution to 3 month average balances represents only 2 months from May 1, 2023 through June 30, 2023 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) CCB CIB CB AWM Corp. 2Q23 Reported FR impact ex. FR 1Q23 2Q22 Revenue $4,943 $303 $4,640 ($144) $334 Asset Management 2,128 - 2,128 (306) (9) Global Private Bank 2,815 303 2,512 162 343 Expense 3,163 - 3,163 72 244 Credit costs 145 146 (1) (29) (45) Net income $1,226 $119 $1,107 ($260) $103 ex. FR $ O/(U) 2Q23 ex. FR Reported FR impact ex. FR 1Q23 2Q22 Average equity $16.7 $0.7 $16.0 $16.0 $17.0 ROE 29% 2% 27% 34% 23% Pretax margin 33 1 32 35 31 Assets under management ("AUM") $3,188 - $3,188 $3,006 $2,743 Client assets 4,558 - 4,558 4,347 3,798 Average loans 219.5 9.7 209.8 211.5 216.8 Average deposits 211.9 - 211.9 224.4 268.9 8
Corporate1 FINANCIAL PERFORMANCE (ex. FR)SELECTED INCOME STATEMENT DATA ($MM) Revenue was $1.0B, up $905mm YoY Net interest income was $1.8B, compared with $324mm in the prior year, due to the impact of higher rates Noninterest revenue was a loss of $782mm, compared with a loss of $244mm in the prior year, and included $900mm of net investment securities losses Expense of $590mm, up $384mm YoY, largely driven by higher legal expense Credit costs were a net benefit of $243mm, reflecting a reserve release associated with the deposit placed with First Republic Bank in the first quarter of 2023 1 See note 1 on slide 11 CCB CIB CB AWM Corp. 2Q23 Reported FR impact ex. FR 1Q23 2Q22 Revenue $3,718 $2,733 $985 - $905 Net interest income 1,738 (29) 1,767 27 1,443 Noninterest revenue 1,980 2,762 (782) (27) (538) Expense 1,152 562 590 430 384 Credit costs (243) - (243) (613) (271) Net income/(loss) $2,640 $2,301 $339 $95 $513 ex. FR $ O/(U) 9
Outlook1 1 See notes 1, 2 and 5 on slide 11 Expect FY2023 net interest income and net interest income excluding Markets of ~$87B, market dependent1 Expect FY2023 adjusted expense of ~$84.5B excluding the FDIC special assessment related to systemic risk determination, market dependent2 Expect FY2023 Card Services NCO rate of ~2.60%3 FIRMWIDE 10
Notes on non-GAAP financial measures 1. rat Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the lines of business on a definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm and each of the reportable business segments on a fully taxable-equivalent basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business. For a lement. There are no reclassifications associated with FR managed revenue 2. ews these metrics excluding CIB sactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the -liability management) and deposit-raising activities, apart from any volatility associated with Markets activities. In addition, management also assesses Markets business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal transactions revenue. Management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the Firm. For a reconciliation of NII and NIR from reported to excluding Markets, refer to page 29 of the Earnings Release Financial Supplement. For additional information on Markets reven 2022 Form 10-K 3. Second-quarter 2023 net income, earnings per share and ROTCE excluding significant items are non-GAAP financial measures. Significant items collectively refer to the bargain purchase gain associated with First Republic of $2.7B, the net credit reserve build associated with First Republic of $1.2B and net investment securities losses of $900mm. Excluding these significant items resulted in a decrease of $1.1B (after tax) to reported net income from $14.5B to $13.3B; a decrease of $0.38 per share to reported EPS from $4.75 to $4.37; and a decrease of 2% to ROTCE from 25% to 23%. Management believes these measures provide useful information to 4. ach non-GAAP financial measures. nd identifiable intangible assets (other than TCE, refer to page 10 of the Earnings . ROTCE ex. FR uses the same -end divided by common shares at period-end. Book value per share was $98.11, $94.34 and $86.38 at June 30, 2023, March 31, 2023 and June 30, 2022, respectively. TCE, ROTCE and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the 5. Adjusted expense and adjusted overhead ratio are each non-GAAP financial measures. Adjusted expense represents noninterest expense excluding Firmwide legal expense of $420mm, $176mm and $73mm for the three months ended June 30, 2023, March 31, 2023 and June 30, 2022, respectively. There was no legal expense djusted expense as a percentage of managed net revenue. Management believes this information helps investors understand the effect of these items on reported results and provides an alternate 6. -of- luding the impact of consolidated Firm-administered multi- rage ratio 11
Additional notes 1. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. Beginning January 1, 2022, the $2.9B CECL capital benefit is being phased out at 25% per year over a three-year period. As of June 30, 2023 and March 31, 2023, CET1 capital and Total Loss-Absorbing Capacity reflected the remaining $1.4B CECL benefit; as of June 30, 2022, CET1 capital reflected a $2.2B benefit. Refer to Capital Risk Management on pages 36-41 of the Fir -Q for the quarterly period ended March 31, 2023 and on pages 86- -K for additional information 2. Total excess high- what is required to meet the estimated Firm and Bank total net cash outflows over a prospective 30 calendar-day period of significant stress under the liquidity covera unencumbered marketable securities, includes end-of-period HQLA, excluding regulatory prescribed haircuts under the LCR rule where applicable, for both the Firm and the excess HQLA-eligible securities which are included as part of the excess liquidity at JPMorgan Chase Bank, N.A. that are not transferable to non-bank affiliates -of-period unencumbered marketable securities, such as equity and debt securities. Does not include borrowing capacity at Federal Home Loan Banks and the discount window at the Federal Reserve Bank. Refer to Liquidity Risk Management on pages 42-47 of the -Q for the quarterly period ended March 31, 2023 and on pages 97- 0-K for additional information 3. In the first quarter of 2023, the allocations of revenue and expense to CCB associated with a Merchant Services revenue sharing agreement were discontinued and are now retained in Payments in CIB. Prior-period amounts have been revised to conform with the current presentation 4. Prior-period amounts have been revised to conform with the current presentation, which uses end-of-period HQLA and end-of-period unencumbered marketable securities. Previous presentations used average Firm HQLA (consistent with the LCR metric) and end-of-period unencumbered marketable securities 12
Additional notes on slides 5-7 Slide 5 Consumer & Community Banking 3. Actual numbers for all periods, not over/(under); FR numbers represent applicable balance only for the period of the quarter from the date of the transaction, May 1, 2023 through June 30, 2023; FR contribution to 3 month average balances represents only 2 months from May 1, 2023 through June 30, 2023 4. Users of all JPMorgan Chase mobile platforms who have logged in within the past 90 days. Excludes the impact of the First Republic acquisition 5. Excludes Commercial Card 6. Includes the impact of loans originated under the PPP. For further information, refer to page 13 of the Earnings Release Financial Supplement 7. Firmwide mortgage origination volume was $13.0B, $6.8B and $27.9B for the three months ended June 30, 2023, March 31, 2023 and June 30, 2022, respectively Slide 6 Corporate & Investment Bank 3. Actual numbers for all periods, not over/(under) 4. Client deposits and other third-party liabilities pertain to the Payments and Securities Services businesses 5. Represents Firmwide merchant processing volume 6. Loans held-for-sale and loans at fair value were excluded when calculating the loan loss coverage ratio and net charge-off/(recovery) rate. ALL/EOP loans as reported was 1.30%, 1.31%, and 1.06% at June 30, 2023, March 31, 2023 and June 30, 2022, respectively. See note 6 on slide 11 7. The bridge book consists of certain held-for-sale positions, including unfunded commitments, in CIB 8. Securitized Products Group is comprised of Securitized Products and Tax Oriented Investments Slide 7 Commercial Banking 2. Actual numbers for all periods, not over/(under); FR numbers represent applicable balance only for the period of the quarter from the date of the transaction, May 1, 2023 through June 30, 2023; FR contribution to 3 month average balances represents only 2 months from May 1, 2023 through June 30, 2023 3. In the fourth quarter of 2022, certain revenue from CIB Markets products was reclassified from investment banking revenue to payments. Prior-period amounts have been revised to conform with the current presentation. Includes growth of $12mm that is also included in the Investment Banking and Markets revenue, gross metric 4. Includes gross revenues earned by the Firm, that are subject to a revenue sharing arrangement with the CIB, for Investment Banki 10-K for discussion of revenue sharing 5. Includes the impact of loans originated under the PPP. For further information, refer to page 20 of the Earnings Release Financial Supplement 6. Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate and loan loss coverage ratio 7. and do not align with regulatory definitions 13
Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & forth in the forward- materially from those described in the forward- Annual Report on Form 10-K for the year ended December 31, 2022, and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, which have been filed with the Securities and Exchange Commission and -web.com/financial- information/sec- Chase & Co. does not undertake to update any forward-looking statements. 14