JPMorgan Chase : Financial report - JPMORGAN CHASE & CO.

Published: 2026-04-17 10:26:18 ET JPM

Published on 04/17/2026 at 10:26 am EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): April 14, 2026

(Exact name of registrant as specified in its charter)

Delaware 1-5805 13-2624428

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. employer identification no.)

270 Park Avenue,

New York, New York 10017

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (212) 270-6000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock JPM The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD

Depositary Shares, each representing a one-four hundredth interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE

Depositary Shares, each representing a one-four hundredth interest in a share of 4.75% Non-Cumulative Preferred Stock, Series GG

Depositary Shares, each representing a one-four hundredth interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ

Depositary Shares, each representing a one-four hundredth interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL

Depositary Shares, each representing a one-four hundredth interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM

Guarantee of Callable Fixed Rate Notes due June 10, 2032 of JPMorgan Chase Financial Company LLC

Guarantee of Alerian MLP Index ETNs due January 28, 2044 of JPMorgan Chase Financial Company LLC

Guarantee of Inverse VIX Short-Term Futures ETNs due March 22, 2045 of JPMorgan Chase Financial Company LLC

JPM PR D The New York Stock Exchange

JPM PR C The New York Stock Exchange

JPM PR J The New York Stock Exchange

JPM PR K The New York Stock Exchange

JPM PR L The New York Stock Exchange

JPM PR M The New York Stock Exchange

JPM/32 The New York Stock Exchange

AMJB NYSE Arca, Inc.

VYLD NYSE Arca, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On April 14, 2026, JPMorgan Chase & Co. ("JPMorganChase" or the "Firm") reported 2026 first quarter net income of $16.5 billion, or $5.94 per share, compared with net income of $14.6 billion, or $5.07 per share, in the first quarter of 2025. A copy of the 2026 first quarter earnings release is attached hereto as Exhibit 99.1, and a copy of the earnings release financial supplement is attached hereto as Exhibit 99.2.

Each of the Exhibits provided with this Form 8-K shall be deemed to be "filed" for purposes of the Securities Exchange Act of 1934.

This Current Report on Form 8-K (including the Exhibits hereto) 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 JPMorganChase'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 JPMorganChase's actual results to differ materially from those described in the forward-looking statements can be found in JPMorganChase's Annual Report on Form 10-K for the year ended December 31, 2025, which has been filed with the Securities and Exchange Commission and is available on JPMorganChase's website (https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview) and on the Securities and Exchange Commission's website (www.sec.gov). JPMorganChase does not undertake to update any forward-looking statements.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description of Exhibit

JPMorgan Chase & Co. Earnings Release - First Quarter 2026 Results

JPMorgan Chase & Co. Earnings Release Financial Supplement - First Quarter 2026

101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language).

104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

JPMorgan Chase & Co. (Registrant)

By: /s/ Elena Korablina

Elena Korablina

Managing Director and Firmwide Controller (Principal Accounting Officer)

Dated: April 14, 2026

‌Exhibit 99.1

JPMorgan Chase & Co.

270 Park Avenue, New York, NY 10017-2070 NYSE symbol: JPM https://www.jpmorganchase.com

FIRST-QUARTER 2026 RESULTS 1

CET1 Capital Ratios3

Std. 14.3% | Adv. 14.1%

Total Loss-Absorbing Capacity3 $572B

Std. RWA3 $2.0T

Cash and marketable securities4 $1.5T

Average loans $1.5T

ROE 19%

ROTCE2 23%

Jamie Dimon, Chairman and CEO, commented: "The Firm delivered strong results in the first quarter, reporting net income of $16.5 billion."

Dimon continued: "Performance was strong across our businesses. In the CIB, revenue grew 19%. Markets revenue reached a record $11.6 billion, while IB fees

increased 28% due to stronger advisory and ECM activity. Additionally, Payments continued to deliver very strong results, with double-digit growth in deposits and fees.

In CCB, revenue rose 7%. We continued to acquire new customers at a robust rate

across the franchise, including achieving record net inflows in self-directed investing and opening more than 450,000 net new checking accounts. Finally, in AWM, revenue increased 11%, and flows remained healthy with $54 billion of long-term AUM net inflows."

Dimon added: "Regarding capital, we were pleased to see that the recent capital re-proposals mitigated the most severe consequences of the 2023 proposals. However,

there are still aspects of the proposed rules that need to be addressed. We have ample amounts of capital and liquidity, with $291 billion in CET1 capital, $572 billion in total loss-absorbing capacity and $1.5 trillion in cash and marketable securities. We hope that regulators prioritize well-designed regulation and address these aspects of the proposed rules to allow banks of all sizes to deploy their resources to support the real economy."

Dimon added: "The U.S. economy remained resilient in the quarter, with consumers still earning and spending and businesses still healthy. Several tailwinds are supporting this resiliency, including increased fiscal stimulus, the benefits of

deregulation, AI-driven capital investment and the Fed's asset purchases. At the same time, there is an increasingly complex set of risks-such as geopolitical tensions and wars, energy price volatility, trade uncertainty, large global fiscal deficits and elevated asset prices. While we cannot predict how these risks and uncertainties will ultimately play out, they are significant and they reinforce why we prepare the Firm for a wide

range of environments."

Dimon concluded: "I want to express my deep gratitude to our employees across the globe for how they work to support our customers and communities every single day."

Firmwide Metrics

CCB

ROE 32%

CIB

ROE 21%

AWM

ROE 44%

Reported revenue of $49.8 billion and managed revenue of

$50.5 billion2

Expense of $26.9 billion; reported overhead ratio of 54% and managed overhead ratio2 of 53%

Credit costs of $2.5 billion with $2.3 billion of net charge-offs and a $191 million net reserve build

Average loans up 11% YoY, up 2% QoQ; average deposits up 7% YoY, up 1% QoQ

Average deposits up 2% YoY and QoQ; client investment assets up 18% YoY

Average loans up 1% YoY and flat QoQ; Card Services net charge-off rate of 3.47%

Debit and credit card sales volume5 up 9% YoY

Active mobile customers6 up 7% YoY

Investment Banking fees up 28% YoY, up 23% QoQ; #1 ranking for Global Investment Banking fees with 9.8% wallet share in 1Q26

Markets revenue up 20% YoY, with Fixed Income Markets up 21% and Equity Markets up 17%

Average Banking & Payments loans up 10% YoY, up 4% QoQ; average client deposits7 up 13% YoY, up 1% QoQ

AUM8 of $4.8 trillion, up 16% YoY

Average loans up 15% YoY, up 3% QoQ; average deposits up 4% YoY, up 3% QoQ

CAPITAL DISTRIBUTIONS

Common dividend of $4.1 billion or $1.50 per share

$8.1 billion of common stock net repurchases9

Net payout LTM9,10 of 82%

FORTRESS PRINCIPLES

Book value per share of $128.38, up 8% YoY; tangible book value per share2 of

$108.87, up 8% YoY

Basel III common equity Tier 1 capital3 of $291 billion, Standardized ratio3 of 14.3% and Advanced ratio3 of 14.1%

Firm supplementary leverage ratio of 5.6%

SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES

Approximately $855 billion of credit and capital11 raised in 1Q26:

$72 billion of credit for consumers

$8 billion of credit for U.S. small businesses

$750 billion of credit and capital for corporations and non-U.S. government entities

$25 billion of credit and capital for nonprofit and U.S. government entities, including states, municipalities, hospitals and universities

Investor Contact: Mikael Grubb (212) 270-2479 Media Contact: Joseph Evangelisti (212) 270-7438

Note: Totals may not sum due to rounding.

1 Percentage comparisons are for the first quarter of 2026 versus the prior-year first quarter, unless otherwise specified.

2 For notes on non-GAAP financial measures, including managed basis reporting, see page 6. For additional notes, see page 7.

In the discussion below of Firmwide results of JPMorgan Chase & Co. ("JPMorganChase" or the "Firm"), information is presented on a managed basis, which is a non-GAAP financial measure, unless otherwise specified. The discussion below of the Firm's business segments and Corporate is also presented on a managed basis. For more information about managed basis and non-GAAP financial measures used by management to evaluate the performance of each line of business, refer to page 6.

Comparisons noted in the sections below are for the first quarter of 2026 versus the prior-year first quarter, unless otherwise specified.

JPMORGANCHASE (JPM)

Results for JPM

4Q25

1Q25

($ millions, except per share data)

1Q26

4Q25

1Q25

$ O/(U)

O/(U) %

$ O/(U)

O/(U) %

Net revenue - reported

$ 49,836

$ 45,798

$ 45,310

$ 4,038

9 %

$ 4,526

10 %

Net revenue - managed

50,536

46,767

46,014

3,769

4,522

Noninterest expense

26,850

23,983

23,597

2,867

3,253

Provision for credit losses

2,507

4,655

3,305

(2,148)

(46)

(798)

(24)

Net income

$ 16,494

$ 13,025

$ 14,643

$ 3,469

27 %

$ 1,851

13 %

Earnings per share - diluted

$ 5.94

$ 4.63

$ 5.07

$ 1.31

28 %

$ 0.87

17 %

Return on common equity

19 %

15 %

18 %

Return on tangible common equity

Discussion of Results:

Net income was $16.5 billion, up 13%.

Net revenue was $50.5 billion, up 10%. Net interest income was $25.5 billion, up 9%. Noninterest revenue was $25.1 billion, up 11%.

Net interest income excluding Markets2 was $23.3 billion, up 3%, driven by higher deposit balances, as well as higher revolving balances in Card Services, predominantly offset by the impact of lower rates. Noninterest revenue excluding Markets2 was $15.7 billion, up 14%, driven by higher asset management fees in AWM and CCB, higher investment banking fees, higher auto operating lease income and higher Payments fees. The increase was partially offset by the absence of the $588 million First Republic-related gain in the prior year. Markets revenue was $11.6 billion, up 20%.

Noninterest expense was $26.9 billion, up 14%, predominantly driven by higher compensation, including higher revenue-related compensation and growth in the number of front office employees, as well as higher brokerage expense and distribution fees, higher marketing expense and higher auto lease depreciation. The increase also reflected the absence of an FDIC special assessment accrual release in the prior year.

The provision for credit losses was $2.5 billion. Net charge-offs were $2.3 billion, down $16 million. The net reserve build was $191 million, and included a $327 million net build in Wholesale and a $139 million net release in Consumer. In the prior year, the provision was $3.3 billion, net charge-offs were

$2.3 billion and the net reserve build was $973 million.

CONSUMER & COMMUNITY BANKING (CCB)

Results for CCB

4Q25

1Q25

($ millions)

1Q26

4Q25

1Q25

$ O/(U) O/(U) %

$ O/(U)

O/(U) %

Net revenue

$ 19,568

$ 19,396

$ 18,313

$ 172

1 %

$ 1,255

7 %

Banking & Wealth Management

10,577

10,870

10,254

(293)

(3)

323

Home Lending

1,232

1,249

1,207

(17)

(1)

Card Services & Auto

7,759

7,277

6,852

482

907

Noninterest expense

10,979

10,256

9,857

723

1,122

Provision for credit losses

2,050

4,244

2,629

(2,194)

(52)

(579)

(22)

Net income

$ 4,976

$ 3,642

$ 4,425

$ 1,334

37 %

$ 551

12 %

Discussion of Results:

Net income was $5.0 billion, up 12%.

Net revenue was $19.6 billion, up 7%. Banking & Wealth Management net revenue was $10.6 billion, up 3%, driven by higher asset management fees in

J.P. Morgan Wealth Management and higher deposit-related fees. Home Lending net revenue was $1.2 billion, up 2%, driven by higher production revenue, partially offset by lower net interest income. Card Services & Auto net revenue was $7.8 billion, up 13%, driven by higher Card Services net interest income largely on higher revolving balances, as well as higher auto operating lease income, partially offset by lower card income.

Noninterest expense was $11.0 billion, up 11%, largely driven by higher marketing expense, higher auto lease depreciation and higher compensation for bankers and advisors.

The provision for credit losses was $2.1 billion. Net charge-offs were $2.2 billion, up $41 million, primarily driven by Card Services. The net reserve release was $145 million, predominantly driven by improvements in home prices. In the prior year, the provision was $2.6 billion, net charge-offs were

$2.2 billion and the net reserve build was $475 million.

COMMERCIAL & INVESTMENT BANK (CIB)

Results for CIB

4Q25

1Q25

($ millions)

1Q26

4Q25

1Q25

$ O/(U) O/(U) %

$ O/(U)

O/(U) %

Net revenue

$ 23,379

$ 19,375

$ 19,666

$ 4,004

21 %

$ 3,713

19 %

Banking & Payments

10,425

9,651

8,754

774

1,671

Markets & Securities Services

12,954

9,724

10,912

3,230

2,042

Noninterest expense

11,136

9,011

9,842

2,125

1,294

Provision for credit losses

482

405

705

(223)

(32)

Net income

$ 9,044

$ 7,268

$ 6,942

$ 1,776

24 %

$ 2,102

30 %

Discussion of Results:

Net income was $9.0 billion, up 30%.

Net revenue was $23.4 billion, up 19%. Banking & Payments revenue was $10.4 billion, up 19%. Investment Banking revenue was $3.1 billion, up 38%. Investment Banking fees were $2.9 billion, up 28%, driven by higher advisory and equity underwriting fees, partially offset by lower debt underwriting fees. Payments revenue was $5.1 billion, up 12%, predominantly driven by higher deposit balances and fee growth. Lending revenue was $2.2 billion, up 13%, largely driven by mark-to-market gains on hedges of the retained lending portfolio and higher loan balances.

Markets & Securities Services revenue was $13.0 billion, up 19%. Markets revenue was $11.6 billion, up 20%. Fixed Income Markets revenue was $7.1 billion, up 21%, driven by higher revenue on strong client activity in Commodities, Credit and Currencies & Emerging Markets, as well as continued strength in Securitized Products, partially offset by lower revenue in Rates. Equity Markets revenue was $4.5 billion, up 17%, predominantly due to increased client activity. Securities Services revenue was $1.5 billion, up 18%, predominantly driven by fee growth on higher market levels and client activity, as well as higher deposit balances.

Noninterest expense was $11.1 billion, up 13%, predominantly driven by higher compensation, including higher revenue-related compensation, as well as higher brokerage expense.

The provision for credit losses was $482 million, largely driven by changes in the credit quality of certain exposures. The net reserve build was $362 million, and net charge-offs were $120 million. In the prior year, the provision was $705 million, the net reserve build was $528 million and net charge-offs were $177 million.

ASSET & WEALTH MANAGEMENT (AWM)

Results for AWM

4Q25

1Q25

($ millions)

1Q26

4Q25

1Q25

$ O/(U) O/(U) %

$ O/(U)

O/(U) %

Net revenue

$ 6,374

$ 6,516

$ 5,731

$ (142)

(2)%

$ 643

11 %

Noninterest expense

4,167

4,068

3,713

454

Provision for credit losses

(24)

(10)

(26)

(14)

(140)

Net income

$ 1,775

$ 1,808

$ 1,583

$ (33)

(2)%

$ 192

12 %

Discussion of Results:

Net income was $1.8 billion, up 12%.

Net revenue was $6.4 billion, up 11%, predominantly driven by growth in management fees on strong net inflows and higher average market levels, as well as higher brokerage activity.

Noninterest expense was $4.2 billion, up 12%, largely driven by higher compensation, primarily due to higher revenue-related compensation and continued growth in private banking advisor teams, as well as higher distribution fees.

Assets under management were $4.8 trillion, up 16%, and client assets were $7.1 trillion, up 18%, driven by higher market levels and continued net inflows.

CORPORATE

Results for Corporate

4Q25

1Q25

($ millions)

1Q26

4Q25

1Q25

$ O/(U)

O/(U) %

$ O/(U)

O/(U) %

Net revenue

$ 1,215

$ 1,480

$ 2,304

$ (265)

(18)%

$ (1,089)

(47)%

Noninterest expense

568

648

185

(80)

(12)

383

207

Provision for credit losses

(1)

(19)

(5)

Net income

$ 699

$ 307

$ 1,693

$ 392

128 %

$ (994)

(59)%

Discussion of Results:

Net income was $699 million, down $994 million.

Net revenue was $1.2 billion, down $1.1 billion. Net interest income was $1.0 billion, down $625 million, predominantly driven by the impact of lower rates. Noninterest revenue was $189 million, down $464 million, largely due to the absence of the $588 million First Republic-related gain in the prior year.

Noninterest expense was $568 million, up $383 million, predominantly due to the absence of an FDIC special assessment accrual release in the prior year.

Notes on non-GAAP financial measures:

The Firm prepares its Consolidated Financial Statements in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP"). That presentation, which is referred to as "reported" basis, provides the reader with an understanding of the Firm's results that can be tracked consistently from year-to-year and enables a comparison of the Firm's performance with the U.S. GAAP financial statements of other companies. In addition to analyzing the Firm's results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a "managed" basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the lines of business on a managed basis. The Firm's definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm as a whole and for each of the reportable business segments and Corporate on a fully taxable-equivalent basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by each of the lines of business and Corporate. For a reconciliation of the Firm's results from a reported to managed basis, refer to page 7 of the Earnings Release Financial Supplement.

Tangible common equity ("TCE"), return on tangible common equity ("ROTCE") and tangible book value per share ("TBVPS") are each non-GAAP financial measures. TCE represents the Firm's common stockholders' equity (i.e., total stockholders' equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of related deferred tax liabilities. For a reconciliation from common stockholders' equity to TCE, refer to page 10 of the Earnings Release Financial Supplement. ROTCE measures the Firm's net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm's TCE at period-end divided by common shares at period-end. Book value per share was $128.38, $126.99 and $119.24 at March 31, 2026, December 31, 2025 and March 31, 2025, respectively. TCE, ROTCE and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm's use of equity.

In addition to reviewing net interest income ("NII") and noninterest revenue ("NIR") on a managed basis, management also reviews these metrics excluding Markets, which is composed of Fixed Income Markets and Equity Markets. Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm's lending, investing (including asset-liability management) and deposit-raising activities, 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 28 of the Earnings Release Financial Supplement. For additional information on Markets revenue, refer to pages 73-74 of the Firm's 2025 Form 10-K.

Additional notes:

Estimated.

Estimated. Cash and marketable securities include end-of-period eligible high-quality liquid assets ("HQLA"), excluding regulatory prescribed haircuts under the liquidity coverage ratio ("LCR") rule where applicable, for both the Firm and the excess HQLA-eligible securities included as part of the excess liquidity at JPMorgan Chase Bank, N.A., which are not transferable to non-bank affiliates and thus excluded from the Firm's LCR. Also include other end-of-period unencumbered marketable securities, such as equity and debt securities. Does not include borrowing capacity at Federal Home Loan Banks and the discount window at the Federal Reserve Bank. Refer to Liquidity Risk Management on pages 100-107 of the Firm's 2025 Form 10-K for additional information.

Excludes Commercial Card.

Users of all mobile platforms who have logged in within the past 90 days.

Client deposits and other third party liabilities ("client deposits") pertain to the Payments and Securities Services businesses.

Assets under management ("AUM").

Includes the net impact of employee issuances. Excludes excise tax and commissions.

Last twelve months ("LTM").

Credit provided to clients represents new and renewed credit, including loans and lending-related commitments, as well as unused amounts of advised uncommitted lines of credit where the Firm has discretion on whether or not to make a loan under these lines. Credit and capital for corporations and non-U.S. government entities includes Individuals and Individual Entities primarily consisting of Global Private Bank clients within AWM.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.9 trillion in assets and $364 billion in stockholders' equity as of March 31, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan

and Chase brands, the Firm serves millions of customers predominantly in the U.S., and many of the world's most prominent corporate, institutional and

government clients globally. Information about JPMorgan Chase & Co. is available at https://www.jpmorganchase.com.

JPMorgan Chase & Co. will host a conference call today, April 14, 2026, at 8:30 a.m. (ET) to present first-quarter 2026 financial results. The general public can access the conference call by dialing the following numbers: 1 (888) 324-3618 in the U.S. and Canada; +1 (312) 470-7119 for international callers; use passcode 1364784#. Please dial in 15 minutes prior to the start of the call. The live audio webcast and presentation slides will be available on the Firm's website, https://www.jpmorganchase.com, under Investor Relations, Events & Presentations.

A replay of the conference call also will be available by telephone beginning at approximately 11:00 a.m. (ET) on April 14, 2026 through 11:59 p.m. (ET) on April 29, 2026 at 1 (800) 841-4034 (U.S. and Canada); +1 (203) 369-3360 (International); use passcode 67371#. The replay will be available via webcast on www.jpmorganchase.com under Investor Relations, Events & Presentations. Additional detailed financial, statistical and business-related information is included in a financial supplement. The earnings release and the financial supplement are available at www.jpmorganchase.com.

This earnings release 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, 2025, which has been filed with the Securities and Exchange Commission and is available on JPMorgan Chase & Co.'s website (https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview), and on the Securities and Exchange Commission's website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements.

‌Exhibit 99.2

Consolidated Financial Highlights 2-3

Consolidated Statements of Income 4

Consolidated Balance Sheets 5

Condensed Average Balance Sheets and Annualized Yields 6

Reconciliation from Reported to Managed Basis 7

Segment & Corporate Results - Managed Basis 8

Capital and Other Selected Balance Sheet Items 9-10

Earnings Per Share and Related Information 11

Consumer & Community Banking ("CCB") 12-15

Commercial & Investment Bank ("CIB") 16-19

Asset & Wealth Management ("AWM") 20-22

Corporate 23

Credit-Related Information 24-27

Non-GAAP Financial Measures 28

Glossary of Terms and Acronyms (a)

(a) Refer to the Glossary of Terms and Acronyms on pages 320-327 of JPMorgan Chase & Co.'s (the "Firm's") Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K").

JPMORGAN CHASE & CO.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(in millions, except per share and ratio data)

QUARTERLY TRENDS

1Q26 Change

SELECTED INCOME STATEMENT DATA

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

Reported Basis

Total net revenue

$ 49,836

$ 45,798

$ 46,427

$ 44,912

$ 45,310

9 %

10 %

Total noninterest expense

26,850

23,983

24,281

23,779

23,597

Pre-provision profit (a)

22,986

21,815

22,146

21,133

21,713

Provision for credit losses

2,507

4,655

(f)

3,403

2,849

3,305

(46)

(24)

NET INCOME

16,494

13,025

14,393

14,987

14,643

Managed Basis (b)

Total net revenue

50,536

46,767

47,120

45,680

46,014

Total noninterest expense

26,850

23,983

24,281

23,779

23,597

Pre-provision profit (a)

23,686

22,784

22,839

21,901

22,417

Provision for credit losses

2,507

4,655

(f)

3,403

2,849

3,305

(46)

(24)

NET INCOME

16,494

13,025

14,393

14,987

14,643

EARNINGS PER SHARE DATA

Net income: Basic $ 5.95

$ 4.64

$ 5.08

$ 5.25

$ 5.08

Diluted 5.94

4.63

5.07

5.24

5.07

Average shares: Basic 2,716.2

2,735.3

2,762.4

2,788.7

2,819.4

(1)

(4)

Diluted 2,720.2

2,740.5

2,767.6

2,793.7

2,824.3

(1)

(4)

MARKET AND PER COMMON SHARE DATA

Market capitalization

$ 788,205

$ 868,793

$ 858,683

$ 797,181

$ 681,712

(9)

Common shares at period-end

2,679.5

2,696.2

2,722.2

2,749.7

2,779.1

(1)

(4)

Book value per share

128.38

126.99

124.96

122.51

119.24

Tangible book value per share ("TBVPS") (a)

108.87

107.56

105.70

103.40

100.36

Cash dividends declared per share

1.50

1.40

FINANCIAL RATIOS (c)

Return on common equity ("ROE")

19 %

15 %

17 %

18 %

Return on tangible common equity

("ROTCE") (a) 23 18

Return on assets 1.41 1.14

1.26

1.35

1.40

CAPITAL RATIOS

Common equity Tier 1 ("CET1") capital

ratio - Standardized (d) 14.3 % (e) 14.6 %

14.8 %

15.1 %

15.4 %

Tier 1 capital ratio - Standardized (d)

15.2

(e)

15.5

15.8

16.1

16.5

Total capital ratio - Standardized (d)

17.1

(e)

17.4

17.7

17.8

18.2

Tier 1 leverage ratio

6.6

(e)

6.9

7.2

Supplementary leverage ratio ("SLR")

5.6

(e)

5.8

5.9

6.0

On January 7, 2026, JPMorganChase announced that Chase will become the new issuer of Apple Card. The Firm entered into a forward purchase commitment on December 30, 2025 to acquire the Apple credit card portfolio (the "Apple Card transaction"), with an expected closing date approximately 24 months thereafter. Refer to Notes 4, 13, 27 and 28 of the Firm's 2025 Form 10-K for additional information.

Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Tangible common equity ("TCE") is also a non-GAAP financial measure; refer to page 10 for a reconciliation of common stockholders' equity to TCE. Refer to page 28 for a further discussion of these measures.

Refer to Reconciliation from Reported to Managed Basis on page 7 for a further discussion of managed basis.

Ratios are based upon annualized amounts.

As of March 31, 2026 and December 31, 2025, the Advanced risk-based ratios were more binding on the Firm than the Standardized risk-based ratios. Refer to page 9 for further information on the Firm's capital metrics.

Estimated.

Included $2.2 billion associated with the Apple Card transaction. Refer to Note 13 of the Firm's 2025 Form 10-K for additional information.

Page 2

JPMORGAN CHASE & CO.

CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED

(in millions, except ratios, employee data and where otherwise noted)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

SELECTED BALANCE SHEET DATA

(period-end)

Total assets

$4,900,475

$4,424,900

$4,560,205

$4,552,482

$ 4,357,856

11 %

12 %

Loans:

Consumer, excluding credit card loans

391,660

402,258

393,084

394,040

391,138

(3)

Credit card loans

239,123

247,797

235,475

232,943

223,384

(4)

Wholesale loans

872,737

843,374

806,687

785,009

741,173

Total loans

1,503,520

1,493,429

1,435,246

1,411,992

1,355,695

Deposits:

U.S. offices:

Noninterest-bearing

595,424

583,342

589,105

591,177

581,623

Interest-bearing

1,508,682

1,452,729

1,433,404

1,441,905

1,416,585

Non-U.S. offices:

Noninterest-bearing

43,775

37,057

34,255

29,976

29,856

Interest-bearing

527,639

486,192

491,712

499,322

467,813

Total deposits

2,675,520

2,559,320

2,548,476

2,562,380

2,495,877

Long-term debt

448,764

435,206

427,203

419,802

407,224

Common stockholders' equity

343,993

342,393

340,167

336,879

331,375

Total stockholders' equity

364,038

362,438

360,212

356,924

351,420

Loans-to-deposits ratio

56 %

58 %

56 %

55 %

54 %

Employees

320,079

318,512

318,153

317,160

318,477

95% CONFIDENCE LEVEL - TOTAL VaR

Average VaR (a)

$ 37

$ 35

$ 33

$ 42

$ 50

(26)

Earnings-at-Risk (in billions) (b)

Parallel shift:

+100 bps shift in rates

$ 1.8

(d) $ 2.1

$ 1.8

$ 2.2

(14)

(17)

-100 bps shift in rates

(2.2)

(d) (2.4)

(2.2)

(2.0)

(2.2)

LINE OF BUSINESS ("LOB") & CORPORATE NET REVENUE (c)

Consumer & Community Banking

$ 19,568

$ 19,396

$ 19,473

$ 18,847

$ 18,313

Commercial & Investment Bank

23,379

19,375

19,878

19,535

19,666

Asset & Wealth Management

6,374

6,516

6,066

5,760

5,731

(2)

Corporate

1,215

1,480

1,703

1,538

2,304

(18)

(47)

TOTAL NET REVENUE

$ 50,536

$ 46,767

$ 47,120

$ 45,680

$ 46,014

LOB & CORPORATE NET INCOME

Consumer & Community Banking

$ 4,976

$ 3,642

$ 5,009

$ 5,169

$ 4,425

Commercial & Investment Bank

9,044

7,268

6,901

6,650

6,942

Asset & Wealth Management

1,775

1,808

1,658

1,473

1,583

(2)

Corporate

699

307

825

1,695

1,693

128

(59)

NET INCOME

$ 16,494

$ 13,025

$ 14,393

$ 14,987

$ 14,643

Effective April 1, 2025, the Firm refined the historical proxy time series inputs to one of its VaR models to more appropriately reflect the risk exposure from certain securitization warehousing loan positions. With this refined time series, the average Total VaR for the three months ended March 31, 2025 would have been lower by $(5) million. Refer to Commercial & Investment Bank VaR on page 19 for further information.

Earnings-at-risk estimates the Firm's interest rate exposure for a given interest rate scenario. The Firm's actual net interest income results may differ compared to the instantaneous rate changes modelled in the earnings-at-risk estimates. Refer to pages 140-141 of the Firm's 2025 Form 10-K for additional information.

Refer to Reconciliation from Reported to Managed Basis on page 7 for a further discussion of managed basis.

Estimated.

Page 3

JPMORGAN CHASE & CO.

CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share and ratio data)

QUARTERLY TRENDS

1Q26 Change

REVENUE

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

Investment banking fees

$ 2,858

$ 2,326

$ 2,612

$ 2,499

$ 2,178

23 %

31 %

Principal transactions

7,987

5,340

7,109

7,149

7,614

Lending- and deposit-related fees

2,394

2,364

2,349

2,248

2,132

Asset management fees

5,515

5,701

5,120

4,806

4,700

(3)

Commissions and other fees

2,482

2,108

2,204

2,194

2,033

Investment securities gains/(losses)

(71)

105

(54)

(37)

Mortgage fees and related income

309

357

383

363

278

(13)

Card income

1,190

1,020

1,140

1,344

1,216

(2)

Other income

1,671

1,658

1,439

1,154

1,923

(13)

Noninterest revenue

24,470

20,803

22,461

21,703

22,037

Interest income

49,191

48,808

49,439

48,241

46,853

Interest expense

23,825

23,813

25,473

25,032

23,580

Net interest income

25,366

24,995

23,966

23,209

23,273

TOTAL NET REVENUE

49,836

45,798

46,427

44,912

45,310

Provision for credit losses

2,507

4,655

(d)

3,403

2,849

3,305

(46)

(24)

NONINTEREST EXPENSE

Compensation expense

15,339

13,118

13,566

13,710

14,093

Occupancy expense

1,447

1,475

1,420

1,264

1,302

(2)

Technology, communications and equipment expense

3,021

2,908

2,839

2,704

2,578

Professional and outside services

3,483

3,338

3,173

3,006

2,839

Marketing

1,604

1,468

1,480

1,279

1,304

Other expense (a)

1,956

1,676

(e)

1,803

1,816

1,481

(e)

TOTAL NONINTEREST EXPENSE

26,850

23,983

24,281

23,779

23,597

Income before income tax expense

20,479

17,160

18,743

18,284

18,408

Income tax expense

3,985

4,135

4,350

3,297

(f)

3,765

(4)

NET INCOME

$ 16,494

$ 13,025

$ 14,393

$ 14,987

$ 14,643

NET INCOME PER COMMON SHARE DATA

Basic earnings per share

$ 5.95

$ 4.64

$ 5.08

$ 5.25

$ 5.08

Diluted earnings per share

5.94

4.63

5.07

5.24

5.07

FINANCIAL RATIOS

Return on common equity (b)

19 %

15 %

17 %

18 %

Return on tangible common equity (b)(c)

Return on assets (b)

1.41

1.14

1.26

1.35

1.40

Effective income tax rate

19.5

24.1

23.2

18.0

(f)

20.5

Overhead ratio

Included Firmwide legal expense of $223 million, $60 million, $62 million, $118 million and $121 million for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

Ratios are based upon annualized amounts.

Refer to page 28 for a further discussion of ROTCE.

Refer to footnote (f) on page 2 for additional information.

Included FDIC special assessment accrual releases of $326 million and $323 million for the three months ended December 31, 2025 and March 31, 2025, respectively. Refer to Note 6 on page 221 of the Firm's 2025 Form 10-K for additional information.

Included a $774 million income tax benefit in Corporate driven by the resolution of certain tax audits and the impact of tax regulations related to foreign currency translation gains and losses finalized in 2024 and effective for 2025.

Page 4

JPMORGAN CHASE & CO.

CONSOLIDATED BALANCE SHEETS

(in millions)

Mar 31, 2026

Change

ASSETS

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Jun 30,

2025

Mar 31,

2025

Dec 31,

2025

Mar 31,

2025

Cash and due from banks

$ 22,039

$ 21,742

$ 21,821

$ 23,759

$ 22,066

1 %

- %

Deposits with banks

290,103

321,596

281,615

396,568

403,837

(10)

(28)

Federal funds sold and securities purchased under

resale agreements

482,704

336,426

425,815

470,589

429,506

Securities borrowed

284,524

286,191

248,368

223,976

238,702

(1)

Trading assets:

Debt and equity instruments

997,751

745,096

892,928

829,510

814,664

Derivative receivables

71,584

57,777

59,849

60,346

60,539

Available-for-sale ("AFS") securities

549,037

507,198

490,499 (a)

485,380

399,363

Held-to-maturity ("HTM") securities

272,142

270,134

293,446 (a)

260,559

265,084

Investment securities, net of allowance for credit losses

821,179

777,332

783,945

745,939

664,447

Loans

1,503,520

1,493,429

1,435,246

1,411,992

1,355,695

Less: Allowance for loan losses

25,928

25,765

25,735

24,953

25,208

Loans, net of allowance for loan losses

1,477,592

1,467,664

1,409,511

1,387,039

1,330,487

Accrued interest and accounts receivable

142,334

111,599

141,876

124,463

117,845

Premises and equipment

36,771

36,244

35,063

33,562

32,811

Goodwill, MSRs and other intangible assets

64,289

64,458

64,442

64,465

64,525

Other assets

209,605

198,775

194,972

192,266

178,427

TOTAL ASSETS

$4,900,475

$4,424,900

$4,560,205

$4,552,482

$4,357,856

LIABILITIES

Deposits

$2,675,520

$2,559,320

$2,548,476

$2,562,380

$2,495,877

Federal funds purchased and securities loaned or sold

under repurchase agreements

716,623

442,396

567,574

595,340

533,046

Short-term borrowings

68,048

64,776

69,355

65,293

64,980

Trading liabilities:

Debt and equity instruments

196,546

169,690

195,859

173,292

149,871

Derivative payables

51,290

46,329

46,403

48,110

37,232

Accounts payable and other liabilities

352,561

316,794

316,896

303,641

293,538

Beneficial interests issued by consolidated VIEs

27,085

27,951

28,227

27,700

24,668

(3)

Long-term debt

448,764

435,206

427,203

419,802

407,224

TOTAL LIABILITIES

4,536,437

4,062,462

4,199,993

4,195,558

4,006,436

STOCKHOLDERS' EQUITY

Preferred stock

20,045

Common stock

4,105

Additional paid-in capital

90,087

91,114

90,865

90,576

90,223

(1)

Retained earnings

428,206

416,055

407,401

397,424

386,616

Accumulated other comprehensive loss ("AOCI")

(6,689)

(4,290)

(5,878)

(7,243)

(9,111)

(56)

Treasury stock, at cost

(171,716)

(164,591)

(156,326)

(147,983)

(140,458)

(4)

(22)

TOTAL STOCKHOLDERS' EQUITY

364,038

362,438

360,212

356,924

351,420

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$4,900,475

$4,424,900

$4,560,205

$4,552,482

$4,357,856

During the third quarter of 2025, the Firm transferred $44.1 billion of investment securities from AFS to HTM for asset-liability management purposes.

Page 5

CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS

(in millions, except rates)

QUARTERLY TRENDS

1Q26 Change

AVERAGE BALANCES 1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

ASSETS

Deposits with banks $ 312,890

$ 335,623

$ 360,156

$ 405,213

$ 446,044

(7)%

(30)%

Federal funds sold and securities purchased

under resale agreements 437,916

330,694

424,346

432,714

377,998

Securities borrowed 286,689

261,877

234,112

234,024

241,003

Trading assets - debt instruments 682,348

620,465

580,985

562,967

495,143

Investment securities 802,265

788,922

768,599

727,651

664,970

Loans 1,486,145

1,461,079

1,417,466

1,380,726

1,339,391

All other interest-earning assets (a) 127,484

125,164

110,100

102,687

103,835

Total interest-earning assets 4,135,737

3,923,824

3,895,764

3,845,982

3,668,384

Trading assets - equity and other instruments 241,307

241,351

264,681

239,996

225,468

Trading assets - derivative receivables 68,328

57,543

61,842

57,601

59,099

All other noninterest-earning assets 313,365

306,700

297,658

294,039

282,363

TOTAL ASSETS

$4,758,737

$4,529,418

$4,519,945

$4,437,618

$ 4,235,314

LIABILITIES

Interest-bearing deposits

$1,991,590

$1,949,049

$1,913,958

$1,902,337

$ 1,842,888

Federal funds purchased and securities loaned or

sold under repurchase agreements

657,816

517,849

567,920

558,043

465,203

Short-term borrowings

55,469

56,265

53,755

55,059

49,291

(1)

Trading liabilities - debt and all other interest-bearing liabilities (b)

324,559

306,567

314,591

300,126

288,140

Beneficial interests issued by consolidated VIEs

27,519

27,327

28,884

26,185

25,775

Long-term debt

367,478

359,910

350,368

348,372

344,945

Total interest-bearing liabilities

3,424,431

3,216,967

3,229,476

3,190,122

3,016,242

Noninterest-bearing deposits

611,294

615,559

610,601

602,777

587,417

(1)

Trading liabilities - equity and other instruments

57,021

52,059

48,628

44,159

37,671

Trading liabilities - derivative payables

55,309

47,591

47,926

40,865

41,087

All other noninterest-bearing liabilities

249,587

236,876

226,934

209,853

208,539

TOTAL LIABILITIES

4,397,642

4,169,052

4,163,565

4,087,776

3,890,956

Preferred stock

20,045

20,013

Common stockholders' equity

341,050

340,321

336,335

329,797

324,345

TOTAL STOCKHOLDERS' EQUITY

361,095

360,366

356,380

349,842

344,358

TOTAL LIABILITIES AND

STOCKHOLDERS' EQUITY

$4,758,737

$4,529,418

$4,519,945

$4,437,618

$ 4,235,314

AVERAGE RATES (c)

INTEREST-EARNING ASSETS

Deposits with banks

3.00 %

3.10 %

3.25 %

3.36 %

3.76 %

Federal funds sold and securities purchased under resale agreements

3.88

4.06

4.24

4.52

Securities borrowed

3.35

3.55

3.67

3.79

3.88

Trading assets - debt instruments

4.30

4.33

4.30

4.50

4.56

Investment securities

3.69

3.74

3.86

3.85

3.84

Loans

6.57

6.63

6.74

6.71

6.80

All other interest-earning assets (a)(d)

5.79

6.24

7.43

6.87

7.63

Total interest-earning assets

4.83

4.95

5.05

5.04

5.19

INTEREST-BEARING LIABILITIES

Interest-bearing deposits

2.09

2.24

2.41

2.40

2.44

Federal funds purchased and securities loaned or

sold under repurchase agreements

3.79

3.99

4.22

4.29

4.52

Short-term borrowings

3.85

4.01

4.35

4.42

4.40

Trading liabilities - debt and all other interest-bearing liabilities (b)

2.83

2.95

2.92

3.04

2.94

Beneficial interests issued by consolidated VIEs

3.92

4.23

4.58

4.55

4.66

Long-term debt

4.79

4.92

5.16

Total interest-bearing liabilities

2.82

2.94

3.13

3.15

3.17

INTEREST RATE SPREAD

2.01

1.92

1.89

2.02

NET YIELD ON INTEREST-EARNING ASSETS

2.50

2.54

2.45

2.43

2.58

Memo: Net yield on interest-earning assets excluding Markets (e)

3.72

3.76

3.73

3.71

3.80

Includes brokerage-related held-for-investment customer receivables, which are classified in accrued interest and accounts receivable, and all other interest-earning assets, which are classified in other assets, on the Consolidated Balance Sheets.

All other interest-bearing liabilities include brokerage-related customer payables.

Includes the effect of derivatives that qualify for hedge accounting. Taxable-equivalent amounts are used where applicable. Refer to Note 5 of the Firm's 2025 Form 10-K for additional information on hedge accounting.

The rates reflect the impact of interest earned on cash collateral where the cash collateral has been netted against certain derivative payables.

Net yield on interest-earning assets excluding Markets is a non-GAAP financial measure. Refer to page 28 for a further discussion of this measure.

Page 6

RECONCILIATION FROM REPORTED TO MANAGED BASIS

(in millions, except ratios)

The Firm prepares its Consolidated Financial Statements using accounting principles generally accepted in the U.S. ("U.S. GAAP"). That presentation, which is referred to as "reported" basis, provides the reader with an understanding of the Firm's results that can be tracked consistently from year-to-year and enables a comparison of the Firm's performance with other companies' U.S. GAAP financial statements. In addition to analyzing the Firm's results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a "managed" basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the LOBs on a managed basis. Refer to the notes on Non-GAAP Financial Measures on page 28 for additional information on managed basis.

The following summary table provides a reconciliation from reported U.S. GAAP results to managed basis.

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

OTHER INCOME

Other income - reported

$ 1,671

$ 1,658

$ 1,439

$ 1,154

$ 1,923

1 %

(13)%

Fully taxable-equivalent adjustments (a)

587

856

588

663

602

(31)

(2)

Other income - managed

$ 2,258

$ 2,514

$ 2,027

$ 1,817

$ 2,525

(10)

(11)

TOTAL NONINTEREST REVENUE

Total noninterest revenue - reported

$ 24,470

$ 20,803

$ 22,461

$ 21,703

$ 22,037

Fully taxable-equivalent adjustments

587

856

588

663

602

(31)

(2)

Total noninterest revenue - managed

$ 25,057

$ 21,659

$ 23,049

$ 22,366

$ 22,639

NET INTEREST INCOME

Net interest income - reported

$ 25,366

$ 24,995

$ 23,966

$ 23,209

$ 23,273

Fully taxable-equivalent adjustments (a)

113

105

102

Net interest income - managed

$ 25,479

$ 25,108

$ 24,071

$ 23,314

$ 23,375

TOTAL NET REVENUE

Total net revenue - reported

$ 49,836

$ 45,798

$ 46,427

$ 44,912

$ 45,310

Fully taxable-equivalent adjustments

700

969

693

768

704

(28)

(1)

Total net revenue - managed

$ 50,536

$ 46,767

$ 47,120

$ 45,680

$ 46,014

PRE-PROVISION PROFIT

Pre-provision profit - reported

$ 22,986

$ 21,815

$ 22,146

$ 21,133

$ 21,713

Fully taxable-equivalent adjustments

700

969

693

768

704

(28)

(1)

Pre-provision profit - managed

$ 23,686

$ 22,784

$ 22,839

$ 21,901

$ 22,417

INCOME BEFORE INCOME TAX EXPENSE

Income before income tax expense - reported

$ 20,479

$ 17,160

$ 18,743

$ 18,284

$ 18,408

Fully taxable-equivalent adjustments

700

969

693

768

704

(28)

(1)

Income before income tax expense - managed

$ 21,179

$ 18,129

$ 19,436

$ 19,052

$ 19,112

INCOME TAX EXPENSE

Income tax expense - reported

$ 3,985

$ 4,135

$ 4,350

$ 3,297

$ 3,765

(4)

Fully taxable-equivalent adjustments

700

969

693

768

704

(28)

(1)

Income tax expense - managed

$ 4,685

$ 5,104

$ 5,043

$ 4,065

$ 4,469

(8)

OVERHEAD RATIO

Overhead ratio - reported

54 %

52 %

53 %

52 %

Overhead ratio - managed

For other income, recognized in CIB, and for net interest income, predominantly recognized in CIB and Corporate.

Page 7

SEGMENT & CORPORATE RESULTS -MANAGED BASIS

(in millions)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

TOTAL NET REVENUE (fully taxable-equivalent ( "FTE"))

Consumer & Community Banking

$ 19,568

$ 19,396

$ 19,473

$ 18,847

$ 18,313

1 %

7 %

Commercial & Investment Bank

23,379

19,375

19,878

19,535

19,666

Asset & Wealth Management

6,374

6,516

6,066

5,760

5,731

(2)

Corporate

1,215

1,480

1,703

1,538

2,304

(18)

(47)

TOTAL NET REVENUE

$ 50,536

$ 46,767

$ 47,120

$ 45,680

$ 46,014

TOTAL NONINTEREST EXPENSE

Consumer & Community Banking

$ 10,979

$ 10,256

$ 10,296

$ 9,858

$ 9,857

Commercial & Investment Bank

11,136

9,011

9,722

9,641

9,842

Asset & Wealth Management

4,167

4,068

3,818

3,733

3,713

Corporate

568

648

445

547

185

(12)

207

TOTAL NONINTEREST EXPENSE

$ 26,850

$ 23,983

$ 24,281

$ 23,779

$ 23,597

PRE-PROVISION PROFIT

Consumer & Community Banking

$ 8,589

$ 9,140

$ 9,177

$ 8,989

$ 8,456

(6)

Commercial & Investment Bank

12,243

10,364

10,156

9,894

9,824

Asset & Wealth Management

2,207

2,448

2,248

2,027

2,018

(10)

Corporate

647

832

1,258

991

2,119

(22)

(69)

PRE-PROVISION PROFIT

$ 23,686

$ 22,784

$ 22,839

$ 21,901

$ 22,417

PROVISION FOR CREDIT LOSSES

Consumer & Community Banking

$ 2,050

$ 4,244

$ 2,538

$ 2,082

$ 2,629

(52)

(22)

Commercial & Investment Bank

482

405

809

696

705

(32)

Asset & Wealth Management

(24)

(10)

(140)

Corporate

(1)

(3)

(19)

PROVISION FOR CREDIT LOSSES

$ 2,507

$ 4,655

$ 3,403

$ 2,849

$ 3,305

(46)

(24)

NET INCOME

Consumer & Community Banking

$ 4,976

$ 3,642

$ 5,009

$ 5,169

$ 4,425

Commercial & Investment Bank

9,044

7,268

6,901

6,650

6,942

Asset & Wealth Management

1,775

1,808

1,658

1,473

1,583

(2)

Corporate

699

307

825

1,695

1,693

128

(59)

TOTAL NET INCOME

$ 16,494

$ 13,025

$ 14,393

$ 14,987

$ 14,643

Page 8

JPMORGAN CHASE & CO.

CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS

(in millions, except ratio data)

Mar 31, 2026

Change

CAPITAL

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Jun 30,

2025

Mar 31,

2025

Dec 31,

2025

Mar 31,

2025

Risk-based capital metrics

Standardized

CET1 capital

$ 291,090

(b)

$ 288,469

$ 287,297

$ 283,854

$ 279,791

1 %

4 %

Tier 1 capital

310,253

(b)

307,630

306,599

303,189

299,132

Total capital

349,894

(b)

343,843

343,215

335,307

330,533

Risk-weighted assets

2,041,683

(b)

1,981,692

1,935,868

1,882,718

1,815,045

CET1 capital ratio

14.3 %

(b)

14.6 %

14.8 %

15.1 %

15.4 %

Tier 1 capital ratio

15.2

(b)

15.5

15.8

16.1

16.5

Total capital ratio

17.1

(b)

17.4

17.7

17.8

18.2

Advanced

CET1 capital

$ 291,090

(b)

$ 288,469

$ 287,297

$ 283,854

$ 279,791

Tier 1 capital

310,253

(b)

307,630

306,599

303,189

299,132

Total capital

334,305

(b)

328,962

328,356

320,809

316,529

Risk-weighted assets

2,063,578

(b)

(c)

2,045,249

1,932,404

1,873,142

1,799,055

CET1 capital ratio 14.1 % (b) 14.1 % 14.9 % 15.2 % 15.6 %

Tier 1 capital ratio

15.0

(b)

15.0

15.9

16.2

16.6

Total capital ratio

16.2

(b)

16.1

17.0

17.1

17.6

Leverage-based capital metrics

Adjusted average assets (a)

$4,702,917

(b)

$4,472,394

$4,464,441

$4,382,220

$ 4,180,147

Tier 1 leverage ratio 6.6 % (b) 6.9 % 6.9 % 6.9 % 7.2 %

Total leverage exposure

$5,576,092 (b)

$5,302,001

$5,272,950

$5,161,360

$ 4,953,480

SLR

5.6 % (b)

5.8 %

5.9 %

6.0 %

Total Loss-Absorbing Capacity ("TLAC")

Eligible external TLAC

$ 572,078

(b)

$ 563,743

$ 567,557

$ 559,897

$ 558,303

MEMO: CET1 CAPITAL ROLLFORWARD

Standardized/Advanced CET1 capital, beginning balance

$ 288,469

$ 287,297

$ 283,854

$ 279,791

$ 275,513

Net income applicable to common equity

16,218

12,745

14,111

14,705

14,388

Dividends declared on common stock

(4,067)

(4,091)

(4,134)

(3,897)

(3,938)

(3)

Net purchase of treasury stock

(7,125)

(8,265)

(8,343)

(7,525)

(6,440)

(11)

Changes in additional paid-in capital

(1,027)

249

289

353

(688)

(49)

Changes related to AOCI applicable to capital:

Unrealized gains/(losses) on investment securities

(2,401)

1,295

1,509

(188)

953

Translation adjustments, net of hedges

(167)

(6)

(12)

868

489

Fair value hedges

(8)

486 46

Defined benefit pension and other postretirement employee benefit plans

619

(28)

(16)

(99) NM

Changes related to other CET1 capital

adjustments 1,145

(b)

(1,381)

(18)

(217)

(498)

Change in Standardized/Advanced

CET1 capital 2,621

(b)

1,172

3,443

4,063

4,278

124

(39)

Standardized/Advanced CET1 capital,

ending balance $ 291,090

(b)

$ 288,469

$ 287,297

$ 283,854

$ 279,791

Adjusted average assets, for purposes of calculating the leverage ratios, includes quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 capital, predominantly goodwill (inclusive of estimated equity method goodwill) and other intangible assets.

Estimated.

As of March 31, 2026, reflects the updated impact to the amount of risk-weighted assets ("RWA") resulting from the completion of the necessary modeling steps for the Apple Card transaction of approximately $30 billion, as compared to the impact of approximately $110 billion as of December 31, 2025. Refer to Capital Risk Management on pages 89-99 of the Firm's 2025 Form 10-K for additional information.

Page 9

JPMORGAN CHASE & CO.

CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS, CONTINUED

(in millions, except ratio data)

Mar 31, 2026

Change

TANGIBLE COMMON EQUITY (period-end) (a)

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Jun 30,

2025

Mar 31,

2025

Dec 31,

2025

Mar 31,

2025

Common stockholders' equity

$ 343,993

$ 342,393

$ 340,167

$ 336,879

$ 331,375

- %

4 %

Less: Goodwill

52,706

52,731

52,717

52,747

52,621

Less: Other intangible assets

2,490

2,560

2,615

2,722

2,777

(3)

(10)

Add: Certain deferred tax liabilities (b)

2,911

2,916

2,906

2,923

2,928

(1)

Total tangible common equity

$ 291,708

$ 290,018

$ 287,741

$ 284,333

$ 278,905

TANGIBLE COMMON EQUITY (average) (a)

Common stockholders' equity

$ 341,050

$ 340,321

$ 336,335

$ 329,797

$ 324,345

Less: Goodwill

52,737

52,703

52,731

52,692

52,581

Less: Other intangible assets

2,518

2,574

2,678

2,741

2,830

(2)

(11)

Add: Certain deferred tax liabilities (b)

2,915

2,903

2,917

2,926

2,938

(1)

Total tangible common equity $ 288,710

$ 287,947

$ 283,843

$ 277,290

$ 271,872

INTANGIBLE ASSETS (period-end)

Goodwill

$ 52,706

$ 52,731

$ 52,717

$ 52,747

$ 52,621

Mortgage servicing rights

9,093

9,167

9,110

8,996

9,127

(1)

Other intangible assets

2,490

2,560

2,615

2,722

2,777

(3)

(10)

Total intangible assets

$ 64,289

$ 64,458

$ 64,442

$ 64,465

$ 64,525

Refer to page 28 for further discussion of TCE.

Represents deferred tax liabilities related to tax-deductible goodwill and to identifiable intangibles created in nontaxable transactions, which are netted against goodwill and other intangibles when calculating TCE.

Page 10

EARNINGS PER SHARE AND RELATED INFORMATION

(in millions, except per share and ratio data)

QUARTERLY TRENDS

1Q26 Change

1Q26 4Q25 3Q25 2Q25 1Q25 4Q25 1Q25

EARNINGS PER SHARE

Basic earnings per share

Net income $ 16,494

$ 13,025

$ 14,393

$ 14,987

$ 14,643

27 %

13 %

Less: Preferred stock dividends 276

280

282

255

(1)

Net income applicable to common

equity 16,218

Less: Dividends and undistributed earnings

12,745

14,111

14,705

14,388

allocated to

participating securities 70

(1)

Net income applicable to common

stockholders $ 16,148

$ 12,689

$ 14,043

$ 14,630

$ 14,317

Total weighted-average basic shares

outstanding 2,716.2

2,735.3

2,762.4

2,788.7

2,819.4

(1)

(4)

Net income per share $ 5.95

$ 4.64

$ 5.08

$ 5.25

$ 5.08

Diluted earnings per share

Net income applicable to common

stockholders $ 16,148

$ 12,689

$ 14,043

$ 14,630

$ 14,317

Total weighted-average basic shares

outstanding 2,716.2

2,735.3

2,762.4

2,788.7

2,819.4

(1)

(4)

Add: Dilutive impact of unvested performance share units

("PSUs"), nondividend-earning restricted stock units

("RSUs") and stock appreciation rights

("SARs")

4.0

5.2

5.0

4.9

(23)

(18)

Total weighted-average diluted shares outstanding

2,720.2

2,740.5

2,767.6

2,793.7

2,824.3

(1)

(4)

Net income per share $

5.94

$ 4.63

$ 5.07

$ 5.24

$ 5.07

COMMON DIVIDENDS

Cash dividends declared per share $

1.50

$ 1.50

(c)

$ 1.40

Dividend payout ratio

25 %

32 %

29 %

27 %

COMMON SHARE REPURCHASE PROGRAM (a)

Total shares of common stock repurchased

27.5

26.7

28.0

29.8

30.0

(8)

Average price paid per share of common stock $

302.75

$ 309.81

$ 297.10

$ 251.67

$ 252.50

(2)

Aggregate repurchases of common stock

8,328

8,262

8,315

7,500

7,563

EMPLOYEE ISSUANCE

Shares issued from treasury stock related to employee

stock-based compensation awards and employee stock

purchase plans

10.8

0.7

0.4

11.5

(6)

Net impact of employee issuances on

stockholders' equity (b)

221

322

339

419

476

(31)

(54)

The Firm's Board of Directors has authorized a common share repurchase program of up to $50 billion, effective July 1, 2025, which replaced the previous program that commenced in the third quarter of 2024 and authorized repurchases of up to $30 billion.

The net impact of employee issuances on stockholders' equity is driven by the cost of equity compensation awards that is recognized over the applicable vesting periods. The cost is partially offset by tax impacts related to the distribution of shares.

On September 16, 2025, the Board of Directors declared quarterly common stock dividends of $1.50 per share.

Page 11

CONSUMER & COMMUNITY BANKING

FINANCIAL HIGHLIGHTS

(in millions, except ratio data)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

INCOME STATEMENT

REVENUE

Lending- and deposit-related fees

$ 947

$ 973

$ 969

$ 888

$ 839

(3)%

13 %

Asset management fees

1,303

1,277

1,189

1,110

1,093

Mortgage fees and related income

303

344

372

347

263

(12)

Card income

592

376

514

687

653

(9)

All other income (a)

1,685

1,585

1,573

1,420

1,323

Noninterest revenue

4,830

4,555

4,617

4,452

4,171

Net interest income

14,738

14,841

14,856

14,395

14,142

(1)

TOTAL NET REVENUE

19,568

19,396

19,473

18,847

18,313

Provision for credit losses 2,050

4,244

(e)

2,538

2,082

2,629

(52)

(22)

NONINTEREST EXPENSE

Compensation expense (b) 4,622

4,392

4,357

4,260

4,375

Noncompensation expense (b)(c) 6,357

5,864

5,939

5,598

5,482

TOTAL NONINTEREST

EXPENSE 10,979

10,256

10,296

9,858

9,857

Income before income tax

expense 6,539

4,896

6,639

6,907

5,827

Income tax expense 1,563

1,254

1,630

1,738

1,402

NET INCOME $ 4,976

$ 3,642

$ 5,009

$ 5,169

$ 4,425

REVENUE BY BUSINESS

Banking & Wealth Management $ 10,577

$ 10,870

$ 11,040

$ 10,698

$ 10,254

(3)

Home Lending 1,232

1,249

1,260

1,250

1,207

(1)

Card Services & Auto 7,759

7,277

7,173

6,899

6,852

MORTGAGE FEES AND RELATED INCOME DETAILS

Production revenue

178

188

173

151

110

(5)

Net mortgage servicing revenue (d)

125

156

199

196

153

(20)

(18)

Mortgage fees and related income $

303

$ 344

$ 372

$ 347

$ 263

(12)

FINANCIAL RATIOS

ROE

32 %

25 %

35 %

36 %

31 %

Overhead ratio

Primarily includes operating lease income and commissions and other fees. Operating lease income was $1.2 billion, $1.1 billion, $987 million, $896 million and $824 million for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.

Included depreciation expense on leased assets of $756 million, $670 million, $649 million, $577 million and $499 million for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

Included MSR risk management results of $(15) million, $7 million, $55 million, $47 million and $9 million for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025,

respectively.

Refer to footnote (f) on page 2 for additional information.

Page 12

CONSUMER & COMMUNITY BANKING

FINANCIAL HIGHLIGHTS, CONTINUED

(in millions, except employee data)

QUARTERLY TRENDS

1Q26 Change

1Q26 4Q25 3Q25 2Q25 1Q25 4Q25 1Q25

SELECTED BALANCE SHEET DATA (period-

end)

Total assets $ 656,051 $ 664,669 $ 652,275 $ 652,379 $ 636,105 (1)% 3 %

Loans:

Banking & Wealth Management

32,992

33,005

33,259

33,749

33,098

Home Lending (a)

238,571

240,724

240,633

241,618

241,427

(1)

Card Services

239,065

247,753

235,491

233,051

223,517

(4)

Auto

70,958

70,585

71,095

72,182

72,116

(2)

Total loans

581,586

592,067

580,478

580,600

570,158

(2)

Deposits

1,112,078

1,072,792

1,058,388

1,063,137

1,080,138

Equity

61,500

56,000

SELECTED BALANCE SHEET DATA (average)

Total assets

$ 655,977

$ 654,851

$ 650,277

$ 642,284

$ 639,664

Loans:

Banking & Wealth Management

33,038

32,916

33,351

33,536

33,160

Home Lending (b)

240,429

241,701

241,772

242,665

244,282

(1)

(2)

Card Services

239,153

239,335

234,412

228,446

224,493

Auto

70,208

70,693

70,895

71,410

72,462

(1)

(3)

Total loans

582,828

584,645

580,430

576,057

574,397

Deposits

1,075,951

1,056,819

1,058,025

1,060,363

1,053,677

Equity

61,500

56,000

Employees (c)

143,869

142,586

142,600

143,198

143,778

At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, Home Lending loans held-for-sale and loans at fair value were $11.3 billion, $11.0 billion, $9.4 billion, $8.9 billion and $6.4 billion, respectively.

Average Home Lending loans held-for sale and loans at fair value were $11.8 billion, $11.2 billion, $10.1 billion, $8.9 billion and $7.5 billion for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

Refer to footnote (b) on page 12 for further information on the centralization of Risk functions.

Page 13

JPMORGAN CHASE & CO.

CONSUMER & COMMUNITY BANKING

FINANCIAL HIGHLIGHTS, CONTINUED

(in millions, except ratio data)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

CREDIT DATA AND QUALITY STATISTICS

Nonaccrual loans (a)

$ 3,493

$ 3,484

$ 3,596

$ 3,891

$ 3,266

- %

7 %

Net charge-offs/(recoveries) Banking & Wealth Management

102

(12)

Home Lending

(15)

(12)

(63)

(21)

(26)

(25)

Card Services

2,044

1,897

1,860

1,938

1,983

Auto

100

(7)

(19)

Total net charge-offs/(recoveries)

$ 2,195

$ 2,044

$ 1,963

$ 2,086

$ 2,154

Net charge-off/(recovery) rate

Banking & Wealth Management

1.04 %

0.87 %

1.01 %

1.22 %

1.19 %

Home Lending

(0.03)

(0.02)

(0.11)

(0.04)

Card Services

3.47

3.14

3.15

3.40

3.58

Auto

0.47

0.49

0.46

0.38

0.56

Total net charge-off/(recovery) rate

1.56

1.41

1.37

1.48

1.54

30+ day delinquency rate Home Lending (b)

0.88 %

0.86 %

0.89 %

0.93 %

1.04 %

Card Services

2.17

2.16

2.14

2.06

2.21

Auto

1.09

1.33 (d)

1.17

1.12

1.20

90+ day delinquency rate - Card Services

1.15

1.10

1.07

1.16

Allowance for credit losses:

Allowance for loan losses

Banking & Wealth Management

$ 765

$ 790

$ 794

(4)

Home Lending

507

647

547

557

(22)

(9)

Card Services

15,563

15,558

15,008

Auto

587

637

(8)

Total allowance for loan losses

17,422

17,557

16,982

16,996

(1)

Allowance for lending-related commitments (c)

2,280

2,290

Total allowance for credit losses

$ 19,702

$ 19,847

$ 17,647

$ 17,072

$ 17,077

(1)

Excludes mortgage loans past due and insured by U.S. government agencies, which are primarily 90 or more days past due. These loans have been excluded based upon the government guarantee. At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $68 million, $70 million, $65 million, $68 million and $81 million, respectively. In addition, the Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance.

At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, excluded mortgage loans 30 or more days past due and insured by U.S. government agencies of $92 million, $102 million, $95

million, $99 million and $114 million, respectively. These amounts have been excluded based upon the government guarantee.

As of December 31, 2025, includes the impact of the Apple Card transaction. Refer to footnote (f) on page 2 for additional information.

Prior-period rate has been revised to conform with the presentation in the Firm's 2025 Form 10-K.

Page 14

JPMORGAN CHASE & CO.

CONSUMER & COMMUNITY BANKING

FINANCIAL HIGHLIGHTS, CONTINUED

(in millions, except ratio data and where otherwise noted)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

BUSINESS METRICS

Number of:

Branches

5,095

5,083

5,018

4,994

4,972

- %

2 %

Active digital customers (in thousands) (a)

76,246

74,646

74,041

73,014

72,480

Active mobile customers (in thousands) (b)

62,960

61,736

60,924

59,898

59,036

Debit and credit card sales volume (in billions)

$ 487.6

$ 512.5

$ 492.3

$ 487.2

$ 448.7

(5)

Total payments transaction volume (in trillions) (c)

1.8

1.6

Banking & Wealth Management

Average deposits

$1,059,463

$1,039,621

$1,040,402

$1,044,158

$1,038,964

Deposit margin

2.63 %

2.72 %

2.79 %

2.76 %

2.69 %

Business Banking average loans

$ 18,578

$ 18,747

$ 18,922

$ 19,217

$ 19,474

(1)

(5)

Business Banking origination volume

733

691

824

893

815

(10)

Client investment assets (d)

1,272,180

1,269,883

1,232,390

1,155,017

1,079,833

Number of client advisors

6,243

6,049

6,025

5,948

5,860

Home Lending (in billions)

Mortgage origination volume by channel Retail

$ 8.7

$ 10.4

$ 8.4

$ 8.7

$ 5.5

(16)

Correspondent

5.0

5.6

5.5

4.8

3.9

(11)

Total mortgage origination volume (e)

$ 13.7

$ 16.0

$ 13.9

$ 13.5

$ 9.4

(14)

Third-party mortgage loans serviced (period-end)

656.4

661.9

663.6

653.3

661.6

(1)

MSR carrying value (period-end)

9.1

9.0

9.1

Card Services

Sales volume, excluding commercial card (in billions) $

337.6

$ 359.7

$ 344.4

$ 340.0

$ 310.6

(6)

Net revenue rate

10.78 %

9.86 %

10.03 %

10.06 %

10.38 %

Net yield on average loans

10.85

10.40

10.28

10.04

10.31

Auto

Loan and lease origination volume (in billions)

$ 10.4

$ 10.8

$ 12.0

$ 11.3

$ 10.7

(4)

(3)

Average auto operating lease assets

20,398

18,893

16,986

15,218

13,641

Users of all web and/or mobile platforms who have logged in within the past 90 days.

Users of all mobile platforms who have logged in within the past 90 days.

Total payments transaction volume includes debit and credit card sales volume and gross outflows of ACH, ATM, teller, wires, BillPay, PayChase, Zelle, person-to-person and checks.

Includes assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager. Refer to AWM segment results on pages 20-22 for additional information.

Firmwide mortgage origination volume was $16.6 billion, $19.0 billion, $16.9 billion, $16.3 billion and $11.2 billion for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

Page 15

FINANCIAL HIGHLIGHTS

(in millions, except ratio data)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

INCOME STATEMENT

REVENUE

Investment banking fees

$ 2,883

$ 2,347

$ 2,627

$ 2,513

$ 2,248

23 %

28 %

Principal transactions

7,897

5,419

7,090

7,109

7,608

Lending- and deposit-related fees

1,394

1,336

1,315

1,296

1,230

Commissions and other fees

1,714

1,562

1,493

1,437

Card income

585

627

613

645

551

(7)

All other income

917

1,063

660

736

748

(14)

Noninterest revenue

15,390

12,354

13,798

13,792

13,822

Net interest income

7,989

7,021

6,080

5,743

5,844

TOTAL NET REVENUE (a)

23,379

19,375

19,878

19,535

19,666

Provision for credit losses

482

405

809

696

705

(32)

NONINTEREST EXPENSE

Compensation expense (b)

5,740

3,940

4,662

4,815

5,127

Noncompensation expense (b)

5,396

5,071

5,060

4,826

4,715

TOTAL NONINTEREST EXPENSE

11,136

9,011

9,722

9,641

9,842

Income before income tax expense

11,761

9,959

9,347

9,198

9,119

Income tax expense 2,717

2,691

2,446

2,548

2,177

NET INCOME $ 9,044

$ 7,268

$ 6,901

$ 6,650

$ 6,942

FINANCIAL RATIOS

ROE

21 %

19 %

18 %

17 %

18 %

Overhead ratio

Compensation expense as percentage of total net revenue (b)

REVENUE BY BUSINESS

Investment Banking

$ 3,136

$ 2,552

$ 2,694

$ 2,684

$ 2,268

Payments

5,123

5,114

4,917

4,735

4,565

Lending

2,166

1,985

1,872

1,829

1,915

Other

Total Banking & Payments

10,425

9,651

9,483

9,248

8,754

Fixed Income Markets

7,078

5,380

5,613

5,690

5,849

Equity Markets

4,481

2,859

3,331

3,246

3,814

Securities Services

1,499

1,489

1,423

1,418

1,269

Credit Adjustments & Other (c)

(104)

(4)

(67)

(20)

(420)

Total Markets & Securities Services

12,954

9,724

10,395

10,287

10,912

TOTAL NET REVENUE

$ 23,379

$ 19,375

$ 19,878

$ 19,535

$ 19,666

Banking & Payments revenue by client coverage segment (d)

Global Corporate Banking & Global Investment Banking (e)

$ 7,265

$ 6,493

$ 6,544

$ 6,319

$ 5,929

12 %

23 %

Commercial Banking

3,160

3,158

2,939

2,929

2,825

Commercial & Specialized Industries

2,280

2,245

2,038

2,067

1,956

Commercial Real Estate Banking

880

913

901

862

869

(4)

Total Banking & Payments revenue

$ 10,425

$ 9,651

$ 9,483

$ 9,248

$ 8,754

Included taxable-equivalent adjustments primarily from income tax credits from investments in alternative energy, affordable housing and new markets, income from tax-exempt securities and loans, and the related amortization and other tax benefits of the investments in alternative energy and affordable housing of $646 million, $920 million, $644 million, $722 million and $658 million for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.

Consists primarily of centrally managed credit valuation adjustments ("CVA"), funding valuation adjustments ("FVA") on derivatives, other valuation adjustments, and certain components of fair value option elected liabilities, which are

primarily reported in principal transactions revenue. Results are presented net of associated hedging activities and net of CVA and FVA amounts allocated to Fixed Income Markets and Equity Markets.

Refer to page 70 of the Firm's 2025 Form 10-K for a description of each of the client coverage segments.

In the second quarter of 2025, amounts were reclassified from Other to Global Corporate Banking & Global Investment Banking reflecting the subsequent alignment of certain business activities after the Firm's Business Segment reorganization in the second quarter of 2024. Prior-period amounts have been revised to conform with the current presentation.

Page 16

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

SELECTED BALANCE SHEET DATA (period-

end)

Total assets

$2,626,846

$2,142,534

$2,328,000

$2,260,825

$ 2,174,123

23 %

21 %

Loans:

Loans retained

576,917

558,528

538,016

526,174

497,657

Loans held-for-sale and loans at fair value (a)

67,022

73,508

56,057

57,659

48,201

(9)

Total loans

643,939

632,036

594,073

583,833

545,858

Equity

166,500

149,500

Banking & Payments loans by client coverage segment (period-end) (b)

Global Corporate Banking & Global Investment Banking (c)

$ 158,989

$ 146,079

$ 132,560

$ 133,017

$ 121,776

Commercial Banking

224,253

222,139

222,464

222,044

219,220

Commercial & Specialized Industries

77,425

75,865

76,010

75,859

74,334

Commercial Real Estate Banking

146,828

146,274

146,454

146,185

144,886

Total Banking & Payments loans

383,242

368,218

355,024

355,061

340,996

SELECTED BALANCE SHEET DATA (average)

Total assets

$2,497,393

$2,260,671

$2,266,445

$2,205,619

$ 2,045,105

Trading assets - debt and equity instruments

874,262

815,438

796,017

758,113

685,039

Trading assets - derivative receivables

67,591

56,598

61,132

56,815

58,987

Loans:

Loans retained

558,751

546,219

528,135

511,562

482,304

Loans held-for-sale and loans at fair value (a)

73,588

66,415

55,545

50,287

46,422

Total loans

632,339

612,634

583,680

561,849

528,726

Deposits

1,234,295

1,226,155

1,194,410

1,170,063

1,106,158

Equity

166,500

149,500

Banking & Payments loans by client coverage segment (average) (b)

Global Corporate Banking & Global Investment Banking (c)

$ 151,120

$ 138,491

$ 132,101

$ 125,554

$ 121,387

Commercial Banking

222,897

222,216

221,534

219,886

218,560

Commercial & Specialized Industries

76,610

75,620

75,270

74,384

73,629

Commercial Real Estate Banking

146,287

146,596

146,264

145,502

144,931

Total Banking & Payments loans

374,017

360,707

353,635

345,440

339,947

Employees (d)

91,493

91,355

90,895

89,882

89,415

Loans held-for-sale and loans at fair value primarily reflect lending-related positions originated and purchased in Markets, including loans held for securitization.

Refer to page 70 of the Firm's 2025 Form 10-K for a description of each of the client coverage segments.

Refer to footnote (b) on page 16 for further information on the centralization of Risk functions.

Page 17

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

CREDIT DATA AND QUALITY STATISTICS

Net charge-offs/(recoveries)

$ 120

$ 440

$ 567

$ 325

$ 177

(73)%

(32)%

Nonperforming assets:

Nonaccrual loans:

Nonaccrual loans retained (a)

3,855

3,641

4,033

3,678

3,413

Nonaccrual loans held-for-sale and loans at fair value (b)

1,192

1,518

1,338

1,207

1,255

(21)

(5)

Total nonaccrual loans

5,047

5,159

5,371

4,885

4,668

(2)

Derivative receivables

174

204

224

349

169

(15)

Assets acquired in loan satisfactions

176

192

197

208

211

(8)

(17)

Total nonperforming assets

5,397

5,555

5,792

5,442

5,048

(3)

Allowance for credit losses:

Allowance for loan losses

7,947

7,632

7,609

7,408

7,680

Allowance for lending-related commitments

2,777

2,738

2,798

2,757

2,113

Total allowance for credit losses

10,724

10,370

10,407

10,165

9,793

Net charge-off/(recovery) rate (c)

0.09 %

0.32 %

0.43 %

0.25 %

0.15 %

Allowance for loan losses to period-end loans retained

1.38

1.37

1.41

1.54

Allowance for loan losses to nonaccrual loans retained (a)

206

210

189

201

225

Nonaccrual loans to total period-end loans

0.78

0.82

0.90

0.84

0.86

Allowance for loan losses of $740 million, $597 million, $724 million, $655 million and $566 million were held against these nonaccrual loans at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate.

Page 18

1Q26 4Q25 3Q25 2Q25 1Q25 4Q25 1Q25

BUSINESS METRICS

Advisory $ 1,266

$ 1,033

$ 926

$ 844

$ 694

23 %

82 %

Equity underwriting 472

416

527

465

324

Debt underwriting 1,145

898

1,174

1,204

1,230

(7)

Total investment banking fees $ 2,883

$ 2,347

$ 2,627

$ 2,513

$ 2,248

Client deposits and other third-party liabilities (average) (a)

1,167,128

1,153,559

1,111,143

1,089,781

1,034,382

Assets under custody ("AUC") (period-end) (in billions)

$ 40,905

$ 41,172

$ 40,128

$ 38,028

$ 35,678

(1)

95% Confidence Level - Total CIB VaR ( average) (b)

CIB trading VaR by risk type: (c)

Fixed income

$ 39

$ 35

$ 33

$ 37

Foreign exchange

Equities

(15)

(56)

Commodities and other

(39)

(52)

Diversification benefit to CIB trading VaR (d)

(47)

(49)

(50)

(55)

CIB trading VaR (c)

(3)

(33)

Credit Portfolio VaR (e)

Diversification benefit to CIB VaR (d)

(16)

(17)

(15)

(17)

(19)

CIB VaR

$ 35

$ 34

$ 31

$ 38

$ 47

(26)

Client deposits and other third-party liabilities pertain to the Payments and Securities Services businesses.

Effective April 1, 2025, the Firm refined the historical proxy time series inputs to one of its VaR models to more appropriately reflect the risk exposure from certain securitization warehousing loan positions. With this refined time series, the average VaR for each of the following reported components would have been lower by the following amounts: CIB trading VaR by fixed income risk type of $(7) million, CIB trading VaR of $(6) million and CIB VaR of $(5) million for the three months ended March 31, 2025.

CIB trading VaR includes substantially all market-making and client-driven activities, as well as certain risk management activities in CIB, including credit spread sensitivity to CVA. Refer to VaR measurement on pages 135-138 of the Firm's 2025 Form 10-K for further information.

Diversification benefit represents the difference between the portfolio VaR and the sum of its individual components. This reflects the non-additive nature of VaR due to imperfect correlation across CIB risks.

Credit Portfolio VaR includes the derivative CVA, hedges of the CVA and credit protection purchased against certain retained loans and lending-related commitments, which are reported in principal transactions revenue. This VaR does not include the retained loan portfolio, which is not reported at fair value.

Page 19

FINANCIAL HIGHLIGHTS

(in millions, except ratio and employee data)

QUARTERLY TRENDS

1Q26 Change

1Q26 4Q25 3Q25 2Q25 1Q25 4Q25 1Q25

INCOME STATEMENT REVENUE

Asset management fees $ 4,125

$ 4,372

$ 3,885

$ 3,642

$ 3,595

(6)%

15 %

Commissions and other fees 369

301

296

314

273

All other income 154

165

156

117

125

(7)

Noninterest revenue 4,648

4,838

4,337

4,073

3,993

(4)

Net interest income 1,726

1,678

1,729

1,687

1,738

(1)

TOTAL NET REVENUE 6,374

6,516

6,066

5,760

5,731

(2)

Provision for credit losses

(24)

(10)

(140)

NONINTEREST EXPENSE

Compensation expense (a)

2,339

2,256

2,125

2,083

2,067

Noncompensation expense (a)

1,828

1,812

1,693

1,650

1,646

TOTAL NONINTEREST EXPENSE

4,167

4,068

3,818

3,733

3,713

Income before income tax expense

2,231

2,446

2,189

1,981

2,028

(9)

Income tax expense

456

638

531

508

445

(29)

NET INCOME

$ 1,775

$ 1,808

$ 1,658

$ 1,473

$ 1,583

(2)

REVENUE BY BUSINESS

Asset Management

$ 3,072

$ 3,408

$ 2,916

$ 2,705

$ 2,671

(10)

Global Private Bank

3,302

3,108

3,150

3,055

3,060

TOTAL NET REVENUE

$ 6,374

$ 6,516

$ 6,066

$ 5,760

$ 5,731

(2)

FINANCIAL RATIOS

ROE

44 %

40 %

36 %

39 %

Overhead ratio Pretax margin ratio:

Asset Management

Global Private Bank

Asset & Wealth Management

Employees (a)

29,357

29,181

29,135

28,770

28,916

Number of Global Private Bank client advisors

4,110

4,101

4,050

3,756

3,781

Page 20

(in millions, except ratio data)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

SELECTED BALANCE SHEET DATA (period-end)

Total assets

$ 299,179

$ 288,065

$ 282,322

$ 268,966

258,354

4 %

16 %

Loans

274,902

266,385

257,988

245,526

237,201

Deposits

266,745

257,316

239,999

242,356

250,219

Equity

16,000

SELECTED BALANCE SHEET DATA (average)

Total assets

$ 291,058

$ 284,100

$ 272,954

$ 261,128

253,372

Loans

267,986

260,792

250,730

240,585

233,937

Deposits

253,706

247,065

241,454

248,375

244,107

Equity

16,000

CREDIT DATA AND QUALITY STATISTICS

Net charge-offs/(recoveries)

(1)

(97)

Nonaccrual loans

1,035

1,199

1,129

1,035

675

(14)

Allowance for credit losses: Allowance for loan losses

520

536

555

552

530

(3)

(2)

Allowance for lending-related commitments

(23)

Total allowance for credit losses

553

579

607

610

563

(4)

(2)

Net charge-off/(recovery) rate

0.05

0.10

Allowance for loan losses to period-end loans

0.19

0.20

0.22

Allowance for loan losses to nonaccrual loans

Nonaccrual loans to period-end loans

0.38

0.45

0.44

0.42

0.28

Page 21

(in billions, except business metrics data)

Mar 31, 2026

Change

Mar 31,

Dec 31,

Sep 30,

Jun 30,

Mar 31,

Dec 31, Mar 31,

CLIENT ASSETS

2026

2025

2025 2025

Assets by asset class

Liquidity

$ 1,297

$ 1,279

$ 1,174

$ 1,131

$ 1,120

1 % 16 %

Fixed income

1,014

998

971

925

879

2 15

Equity

1,360

1,400

1,371

1,258

1,128

(3) 21

Multi-asset

880

884

855

809

764

- 15

Alternatives

238

230

228

220

222

3 7

TOTAL ASSETS UNDER MANAGEMENT

4,789

4,791

4,599

4,343

4,113

- 16

Custody/brokerage/administration/deposits

2,314

2,327

2,239

2,078

1,889

(1) 22

TOTAL CLIENT ASSETS (a)

$ 7,103

$ 7,118

$ 6,838

$ 6,421

$ 6,002

- 18

Assets by client segment

Private Banking

$ 1,440

$ 1,414

$ 1,364

$ 1,270

$ 1,201

2 20

Global Institutional

1,964

1,953

1,837

1,772

1,705

1 15

Global Funds

1,385

1,424

1,398

1,301

1,207

(3) 15

TOTAL ASSETS UNDER MANAGEMENT

$ 4,789

$ 4,791

$ 4,599

$ 4,343

$ 4,113

- 16

Private Banking

$ 3,549

$ 3,423

$ 3,191

$ 2,949

- 20

Global Institutional

2,145

2,121

1,994

1,907

1,828

1 17

Global Funds

1,409

1,448

1,421

1,323

1,225

(3) 15

TOTAL CLIENT ASSETS (a)

$ 7,103

$ 7,118

$ 6,838

$ 6,421

$ 6,002

- 18

Assets under management rollforward

Beginning balance

$ 4,791

$ 4,599

$ 4,343

$ 4,113

$ 4,045

Net asset flows:

Liquidity

105

Fixed income

Equity

Multi-asset

(2)

Alternatives

(10)

Market/performance/other impacts

(69)

147

194

(22)

Ending balance

$ 4,789

$ 4,791

$ 4,599

$ 4,343

$ 4,113

Client assets rollforward

Beginning balance $ 7,118

$ 6,838

$ 6,421

$ 6,002

$ 5,932

Net asset flows 111

206

147

120

Market/performance/other impacts (126)

270

339

(50)

Ending balance $ 7,103

$ 7,118

$ 6,838

$ 6,421

$ 6,002

BUSINESS METRICS

Firmwide Wealth Management

Client assets (in billions) (b)

$ 4,516

$ 4,521

$ 4,373

$ 4,087

$ 3,791

Number of client advisors

10,353

10,150

10,075

9,704

9,641

Stock Plan Administration

Number of stock plan participants (in thousands)

1,883

1,794

1,796

1,594

1,500

Client assets (in billions)

383

372

357

314

281

Includes CCB client investment assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager.

Consists of Global Private Bank in AWM and client investment assets in J.P. Morgan Wealth Management in CCB.

Page 22

JPMORGAN CHASE & CO.

CORPORATE

FINANCIAL HIGHLIGHTS

(in millions, except employee data)

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

INCOME STATEMENT

REVENUE

Principal transactions

$ (31)

$ (144)

$ (54)

$ (87)

78 %

64 %

Investment securities gains/(losses)

(72)

105

(54)

(37)

All other income

160

128

246

157

777

(79)

Noninterest revenue

189

(88)

297

653

(71)

Net interest income

1,026

1,568

1,406

1,489

1,651

(35)

(38)

TOTAL NET REVENUE (a)

1,215

1,480

1,703

1,538

2,304

(18)

(47)

Provision for credit losses

(1)

(3)

(19)

NONINTEREST EXPENSE (b)

568

648 (f)

445

547

185 (f)

(12)

207

Income before income tax expense

648

828

1,261

966

2,138

(22)

(70)

Income tax expense/(benefit)

(51)

521

436

(729) (h)

445

NET INCOME

$ 699

$ 307

$ 825

$ 1,695

$ 1,693

128

(59)

MEMO:

TOTAL NET REVENUE

Treasury and Chief Investment Office ("CIO")

1,337

1,601

1,687

1,649

1,564

(16)

(15)

Other Corporate

(122)

(121)

(111)

740

(1)

TOTAL NET REVENUE

$ 1,215

$ 1,480

$ 1,703

$ 1,538

$ 2,304

(18)

(47)

NET INCOME/(LOSS)

Treasury and CIO

842

1,120

1,166

1,121

1,158

(25)

(27)

Other Corporate

(143)

(813)

(341)

574

535

TOTAL NET INCOME

$ 699

$ 307

$ 825

$ 1,695

$ 1,693

128

(59)

SELECTED BALANCE SHEET DATA

(period-end)

Total assets

$1,318,399

$1,329,632

$1,297,608

$1,370,312

$ 1,289,274

(1)

Loans

3,093

2,941

2,707

2,033

2,478

Deposits (c)

41,173

35,874

34,145

27,952

25,064

Employees (b)

55,360

55,390

55,523

55,310

56,368

(2)

SUPPLEMENTAL INFORMATION

TREASURY and CIO

Investment securities gains/(losses)

$ 60

$ (72)

$ 105

$ (54)

$ (37)

Available-for-sale securities (average)

529,500

502,641

495,777 (g)

462,179

391,997

Held-to-maturity securities (average) (d)

269,482

283,009

269,717 (g)

262,479

269,906

(5)

Investment securities portfolio (average)

$ 798,982

$ 785,650

$ 765,494

$ 724,658

$ 661,903

Available-for-sale securities (period-end)

545,706

503,896

487,277 (g)

482,269

396,316

Held-to-maturity securities (period-end) (d)

272,142

270,134

293,446 (g)

260,559

265,084

Investment securities portfolio, net of

allowance for credit losses (period-end) (e)

$ 817,848

$ 774,030

$ 780,723

$ 742,828

661,400

Included tax-equivalent adjustments, predominantly driven by tax-exempt income from municipal bonds, of $44 million, $41 million, $39 million, $38 million and $36 million for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

Predominantly relates to the Firm's international consumer initiatives.

At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, the estimated fair value of the HTM securities portfolio was $254.5 billion, $253.3 billion, $274.9 billion, $239.3 billion and $242.3 billion, respectively.

At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, the allowance for credit losses on investment securities was $73 million, $73 million, $72 million, $75 million and $85 million, respectively.

During the third quarter of 2025, the Firm transferred $44.1 billion of investment securities from AFS to HTM for asset-liability management purposes.

Included a $774 million income tax benefit driven by the resolution of certain tax audits and the impact of tax regulations related to foreign currency translation gains and losses finalized in 2024 and effective for 2025.

Page 23

JPMORGAN CHASE & CO.

CREDIT-RELATED INFORMATION

(in millions)

Mar 31, 2026

Change

Mar 31,

Dec 31,

Sep 30,

Jun 30,

Mar 31,

Dec 31, Mar 31,

2026

2025

2025 2025

CREDIT EXPOSURE

Consumer, excluding credit card loans (a)

Loans retained

$ 367,274

$ 368,741

$ 369,859

$ 371,855

$ 372,892

- % (2)%

Loans held-for-sale and loans at fair value

24,386

33,517

23,225

22,185

18,246

(27) 34

Total consumer, excluding credit card loans 391,660

402,258

393,084

394,040

391,138

(3)

Credit card loans

Loans retained 239,123

247,797

235,475

232,943

223,384

(4)

Total credit card loans 239,123

247,797

235,475

232,943

223,384

(4)

Total consumer loans 630,783

650,055

628,559

626,983

614,522

(3)

Wholesale loans (b)

Loans retained

818,839

792,367

764,451

740,675

704,714

Loans held-for-sale and loans at fair value

53,898

51,007

42,236

44,334

36,459

Total wholesale loans

872,737

843,374

806,687

785,009

741,173

Total loans

1,503,520

1,493,429

1,435,246

1,411,992

1,355,695

Derivative receivables

71,584

57,777

59,849

60,346

60,539

Receivables from customers (c)

64,844

47,336

68,493

53,099

49,403

Total credit-related assets

1,639,948

1,598,542

1,563,588

1,525,437

1,465,637

Lending-related commitments

Consumer, excluding credit card

46,236

43,587

48,015

47,064

46,149

Credit card (d)(e)

1,204,016

1,177,766

1,069,963

1,050,275

1,031,481

Wholesale

604,922

595,954

596,028

559,654 (h)

548,853

Total lending-related commitments

1,855,174

1,817,307

1,714,006

1,656,993

1,626,483

Total credit exposure

$ 3,495,122

$ 3,415,849

$ 3,277,594

$ 3,182,430

$ 3,092,120

Memo: Total by category

Consumer exposure (f)

$ 1,881,035

$ 1,871,408

$ 1,746,537

$ 1,724,322

$ 1,692,152

Wholesale exposure (g)

1,614,087

1,544,441

1,531,057

1,458,108

1,399,968

Total credit exposure

$ 3,495,122

$ 3,415,849

$ 3,277,594

$ 3,182,430

$ 3,092,120

Includes scored loans held in CCB, scored mortgage and home equity loans held in AWM, and scored mortgage loans held in CIB and Corporate.

Includes loans held in CIB, AWM, Corporate as well as risk-rated loans held in CCB, including business banking and J.P. Morgan Wealth Management loans held in Banking & Wealth Management, and auto dealer loans for which the wholesale methodology is applied when determining the allowance for loan losses.

Receivables from customers reflect held-for-investment margin loans to brokerage clients in CIB, CCB and AWM; these are reported within accrued interest and accounts receivable on the Consolidated balance sheets.

Also includes commercial card lending-related commitments primarily in CIB.

As of December 31, 2025, includes the impact of the Apple Card transaction. Refer to Notes 4 and 28 of the Firm's 2025 Form 10-K for additional information.

Represents total consumer loans and lending-related commitments.

Represents total wholesale loans, lending-related commitments, derivative receivables, and receivables from customers.

Prior-period amount has been revised to conform with the presentation in the Firm's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.

Page 24

Mar 31, 2026

Change

NONPERFORMING ASSETS (a)

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Jun 30,

2025

Mar 31,

2025

Dec 31,

2025

Mar 31,

2025

Consumer nonaccrual loans

Loans retained

$ 3,810

$ 3,875

$ 3,954

$ 3,938

$ 3,318

(2)%

15 %

Loans held-for-sale and loans at fair value

589

798

646

731

441

(26)

Total consumer nonaccrual loans

4,399

4,673

4,600

4,669

3,759

(6)

Wholesale nonaccrual loans

Loans retained

4,524

4,398

4,740

4,479

3,895

Loans held-for-sale and loans at fair value

660

786

766

673

964

(16)

(32)

Total wholesale nonaccrual loans

5,184

5,506

5,152

4,859

Total nonaccrual loans

9,583

9,857

10,106

9,821

8,618

(3)

Derivative receivables

174

204

224

349

169

(15)

Assets acquired in loan satisfactions

292

298

305

310

318

(2)

(8)

Total nonperforming assets

10,049

10,359

10,635

10,480

9,105

(3)

Wholesale lending-related commitments (b)

916

925

1,025

922

793

(1)

Total nonperforming exposure

$ 10,965

$ 11,284

$ 11,660

$ 11,402

$ 9,898

(3)

NONACCRUAL LOAN-RELATED RATIOS

Total nonaccrual loans to total loans

0.64 %

0.66 %

0.70 %

0.64 %

Total consumer, excluding credit card nonaccrual loans to

total consumer, excluding credit card loans

1.12

1.16

1.17

1.18

0.96

Total wholesale nonaccrual loans to total

wholesale loans

0.59

0.61

0.68

0.66

Excludes mortgage loans past due and insured by U.S. government agencies, which are primarily 90 or more days past due. These loans have been excluded based upon the government guarantee. At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $251 million, $198 million, $158 million, $113 million and $117 million, respectively. In addition, the Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance. Refer to Note 12 of the Firm's 2025 Form 10-K for additional information on the Firm's credit card nonaccrual and charge-off policies.

Represents commitments that are risk rated as nonaccrual.

Page 25

QUARTERLY TRENDS

1Q26 Change

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

SUMMARY OF CHANGES IN THE ALLOWANCES

ALLOWANCE FOR LOAN LOSSES

Beginning balance

$ 25,765

$ 25,735

$ 24,953

$ 25,208

$ 24,345

- %

6 %

Net charge-offs:

Gross charge-offs

2,911

3,099

3,181

2,944

2,816

(6)

Gross recoveries collected

(595)

(585)

(588)

(534)

(484)

(2)

(23)

Net charge-offs

2,316

2,514

2,593

2,410

2,332

(8)

(1)

Provision for loan losses

2,481

2,544

3,376

2,151

3,193

(2)

(22)

Other

(2)

(1)

Ending balance

$ 25,928

$ 25,765

$ 25,735

$ 24,953

$ 25,208

ALLOWANCE FOR LENDING-RELATED COMMITMENTS

Beginning balance

$ 5,071

$ 2,964

$ 2,932

$ 2,226

$ 2,101

141

Provision for lending-related commitments

2,107

(b)

706

125

(99)

(82)

Other

(3)

Ending balance

$ 5,091

$ 5,071

$ 2,964

$ 2,932

$ 2,226

129

ALLOWANCE FOR INVESTMENT SECURITIES

$ 78

$ 106

$ 105

$ 108

$ 118

(26)

(34)

Total allowance for credit losses (a)

$ 31,097

$ 30,942

$ 28,804

$ 27,993

$ 27,552

NET CHARGE-OFF/(RECOVERY) RATES

Consumer retained, excluding credit card loans

0.17 %

0.19 %

0.12 %

0.14 %

0.18 %

Credit card retained loans

3.46

3.14

3.15

3.40

3.58

Total consumer retained loans

1.47

1.35

1.29

1.38

1.45

Wholesale retained loans

0.06

0.23

0.33

0.19

0.11

Total retained loans

0.67

0.72

0.76

0.73

0.74

Memo: Average retained loans

Consumer retained, excluding credit card loans

$ 367,880

$ 368,485

$ 370,073

$ 372,005

$ 374,466

(2)

Credit card retained loans

239,220

239,356

234,354

228,320

224,350

Total average retained consumer loans

607,100

607,841

604,427

600,325

598,816

Wholesale retained loans

793,654

775,282

747,045

721,105

686,585

Total average retained loans

$1,400,754

$1,383,123

$1,351,472

$1,321,430

$ 1,285,401

At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, excludes an allowance for credit losses associated with certain accounts receivable in CIB of $286 million, $288 million, $285 million,

$288 million and $283 million, respectively.

Refer to footnote (f) on page 2 for additional information.

Page 26

Mar 31, 2026

Change

Mar 31,

Dec 31,

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Mar 31,

2026

2025

ALLOWANCE COMPONENTS AND RATIOS

ALLOWANCE FOR LOAN LOSSES

Consumer, excluding credit card

Asset-specific

$ (623)

$ (647)

$ (621)

$ (683)

$ (727)

4 %

14 %

Portfolio-based

2,412

2,567

2,524

2,532

2,585

(6)

(7)

Total consumer, excluding credit card

1,789

1,920

1,903

1,849

1,858

(7)

(4)

Credit card

Portfolio-based

15,559

15,557

15,554

15,001

15,000

Total credit card

15,559

15,557

15,554

15,001

15,000

Total consumer

17,348

17,477

17,457

16,850

16,858

(1)

Wholesale

Asset-specific

851

707

838

781

692

Portfolio-based

7,729

7,581

7,440

7,322

7,658

Total wholesale

8,580

8,288

8,278

8,103

8,350

Total allowance for loan losses

25,928

25,765

25,735

24,953

25,208

Allowance for lending-related commitments (a)

5,091

5,071

2,964

2,932

2,226

129

Allowance for investment securities

106

105

108

118

(26)

(34)

Total allowance for credit losses

$ 31,097

$ 30,942

$ 28,804

$ 27,993

$ 27,552

CREDIT RATIOS

Consumer, excluding credit card allowance, to total

consumer, excluding credit card retained

loans 0.49 %

0.52 %

0.51 %

0.50 %

Credit card allowance to total credit card

retained loans 6.51

6.28

6.61

6.44

6.71

Wholesale allowance to total wholesale

retained loans 1.05

1.05

1.08

1.09

1.18

Total allowance to total retained loans 1.82

Consumer, excluding credit card allowance,

1.83

1.88

1.85

1.94

excluding credit card retained nonaccrual

loans (b) 47

Total allowance, excluding credit card

nonaccrual loans, excluding credit card

nonaccrual loans (b) 124

123

117

118

142

Wholesale allowance to wholesale retained

nonaccrual loans 190

188

175

181

214

Total allowance to total retained

nonaccrual loans 311

311

296

349

to consumer,

allowance, to retained

As of December 31, 2025, includes the impact of the Apple Card transaction. Refer to footnote (f) on page 2 for additional information.

Refer to footnote (a) on page 25 for information on the Firm's nonaccrual policy for credit card loans.

Page 27

NON-GAAP FINANCIAL MEASURES

Non-GAAP Financial Measures

In addition to analyzing the Firm's results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a "managed" basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the LOBs on a managed basis. The Firm's definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm as a whole and for each of the reportable business segments and Corporate on an 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 financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by each of the LOBs and Corporate.

Pre-provision profit is a non-GAAP financial measure which represents total net revenue less total noninterest expense. The Firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses.

TCE, ROTCE, and TBVPS are each non-GAAP financial measures. TCE represents the Firm's common stockholders' equity (i.e., total stockholders' equity less preferred stock) less goodwill and identifiable intangible assets (other than MSRs), net of related deferred tax liabilities. ROTCE measures the Firm's net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm's TCE at period-end divided by common shares at period-end. TCE, ROTCE, and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm's use of equity.

In addition to reviewing net interest income ("NII"), net yield, and noninterest revenue ("NIR") on a managed basis, management also reviews these metrics excluding Markets, which is composed of Fixed Income Markets and Equity Markets, as shown below. Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm's lending, investing (including asset-liability management) and deposit-raising activities, apart from any volatility associated with Markets activities. In addition, management also assesses Markets business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal transactions revenue. Management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the Firm. For additional information on Markets revenue, refer to pages 73-74 of the Firm's 2025 Form 10-K.

QUARTERLY TRENDS

1Q26

Change

(in millions, except rates)

1Q26

4Q25

3Q25

2Q25

1Q25

4Q25

1Q25

Net interest income - reported

$ 25,366

$ 24,995

$ 23,966

$ 23,209

$ 23,273

1 %

9 %

Fully taxable-equivalent adjustments

113

105

102

Net interest income - managed basis

$ 25,479

$ 25,108

$ 24,071

$ 23,314

$ 23,375

Less: Markets net interest income

2,199

1,251

680

561

785

180

Net interest income excluding Markets

$ 23,280

$ 23,857

$ 23,391

$ 22,753

$ 22,590

(2)

Average interest-earning assets $4,135,737

$3,923,824

$3,895,764

$3,845,982

$3,668,384

Less: Average Markets interest-earning

assets 1,599,089

1,403,245

1,404,633

1,387,584

1,255,149

Average interest-earning assets

excluding Markets $2,536,648

$2,520,579

$2,491,131

$2,458,398

$2,413,235

Net yield on average interest-earning assets

- managed basis (a)

2.50 %

2.54 %

2.45 %

2.43 %

2.58 %

Net yield on average Markets interest-earning assets

0.56

0.35

0.19

0.16

0.25

Net yield on average interest-earning assets excluding Markets (a)

3.72

3.76

3.73

3.71

3.80

Noninterest revenue - reported

$ 24,470

$ 20,803

$ 22,461

$ 21,703

$ 22,037

Fully taxable-equivalent adjustments

587

856

588

663

602

(31)

(2)

Noninterest revenue - managed basis

$ 25,057

$ 21,659

$ 23,049

$ 22,366

$ 22,639

Less: Markets noninterest revenue

9,360

6,988

8,264

8,375

8,878

Noninterest revenue excluding Markets

$ 15,697

$ 14,671

$ 14,785

$ 13,991

$ 13,761

Memo: Markets total net revenue

$ 11,559

$ 8,239

$ 8,944

$ 8,936

$ 9,663

Page 28

Disclaimer

JPMorgan Chase & Co. published this content on April 17, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 17, 2026 at 14:25 UTC.