Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & 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, 2011, Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2012, Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2012, all of which have been filed with the Securities and Exchange Commission and are available on JPMorgan Chase & Co.’s website (http://investor.shareholder.com/jpmorganchase) and on the Securities and Exchange Commission's website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

February 26, 2013 F I R M O V E R V I E W Marianne Lake, Chief Financial Officer

Agenda Page F I R M O V E R V I E W 1 JPMorgan Chase overview 1 Expense and investments 11 Balance sheet 15 Appendix – Key investor topics 27 Appendix – Other 31

J P M O R G A N C H A S E O V E R V I E W JPMorgan Chase’s fundamentals are extremely strong JPMorgan Chase overview 1 See note 3 on slide 41; will depend on interpretation of rules and decisions on usage of excess capital Strong returns and growth opportunities  Best-in-class client franchises; focus on serving clients  Strong leadership positions  Experienced management team; deep bench of talent Excellent client franchises Capital and regulatory  Delivered strong consistent returns  Continuous investments support organic growth  Continuous expense discipline  Consistent focus on “fortress” operating model  Committed to comply with broad set of regulatory changes  Compliant with Basel III Tier I common1 ratio of 9.5% and 100% LCR by end of 2013 Competitive advantages  Strength of the platform provides competitive advantage  Broad customer base; global reach; full platform  $14B of cross-sell revenue and $3B of cost synergies  Additional branding, funding benefits and earnings diversification 2

J P M O R G A N C H A S E O V E R V I E W FY2011 FY2012 Revenue (FTE) 1 $99,767 $99,890 Credit Costs 7,574 3,385 Expense 62,911 64,729 Reported net income $18,976 $21,284 Net income applicable to common stock $17,568 $19,877 Reported EPS $4.48 $5.20 ROTCE 2 15% 15% Return on Basel I RWA (excl. DVA) 3 1.5 1.7 Basel I Tier 1 common ratio 4 10.1 11.0 Basel III Tier 1 common ratio 4,5 7.9 8.7 CB 7% CIB 34% AM 10% CBB 17% MB 14% Card 19% Performance summary JPMorgan Chase overview – Performance summary Impact of run-off and mitigants through 2014 would add ~+100bps6 Firmwide revenue – FY20121,7 NIR represents 54% of revenue – FY2012 NIR mix1 Note: Totals may not sum due to rounding 1 See note 1 on slide 41 2 See note 2 on slide 41 3 See note 4 on slide 41 4 See note 3 on slide 41 5 Estimated impact of final Basel 2.5 Rules and Basel III Advanced NPR reflected in 2012, but not 2011 6 Includes the effect of bringing forward run-off and data/model enhancements 7 Excludes Corp/PE 2012 loss of $1.2B from total revenue CCB 49% Lending and deposit related – CCB 6% Lending and deposit related – other 6% IB fees 11% Principal transactions 10% Asset mgmt fees – AM 13% Asset mgmt fees – other 13% Securities gains 4% Other 12% Mortgage fees 16% Credit card 10% $mm, excluding EPS 3

J P M O R G A N C H A S E O V E R V I E W $33.45 $36.59 $36.15 $39.88 $43.04 $46.59 $51.27 $18.88 $21.96 $22.52 $27.09 $30.18 $33.69 $38.75 2006 2007 2008 2009 2010 2011 2012 Book value per share: Growing our fortress balance sheet JPMorgan Chase overview – Performance summary Shares outstanding (EOP) 3.7B 3.9B 3.9B 3.8B 3.4B 3.5B 1 Actual change 2 Excludes legal reserves associated with mortgage-backed securities litigation 3 CAGR 4 Excl.DVA, growth YoY would be 25%; see note 6 of slide 41 Key metrics since FY2006 3.8B Growth YoY 5Y3 10Y3 BVPS 10% 7% 10% TBVPS 15 12 9 EPS4 16 4 21 1 1 1 ($B) 2006 2012 %Δ Tangible common equity $65.4 $147.4 126% Basel I Tier 1 common 7.3% 11.0% 3.7 Loan loss reserve $7.3 $21.9 $14.6 Repurchase reserve 2 0.0 2.8 2.8 EOP Deposits 638.8 ,193.6 87% 4

J P M O R G A N C H A S E O V E R V I E W 1 2 3 4 Total shareholder returns JPMorgan Chase overview – Returns 0 50 100 150 200 250 300 350 03/26/00 10/24/02 05/24/05 12/22/07 07/22/10 02/19/13 ONE/JPM BKX S5FINL SPX Annualized total shareholder returns – March 26, 20001 320 128 97 98 0 25 50 75 100 125 150 01/01/08 01/10/09 01/20/10 01/30/11 02/09/12 02/19/13 JPM BKX S5FINL SPX Annualized total shareholder returns – January 13, 20041 Annualized total shareholder returns – 5-year return 117 70 95 120 145 170 01/01/12 03/24/12 06/15/12 09/06/12 11/28/12 02/19/13 JPM BKX S5FINL SPX Annualized total shareholder returns – 1-year return Source: Bloomberg Note: Annualized total shareholder returns assume dividends are reinvested on pay-date Note: “BKX” is the KBW Bank Index; “S5FINL” is the S&P 500 Financials Index; “SPX” is the S&P 500 Index 1 March 26, 2000 represents the day before Jamie Dimon started as CEO of Bank One Corporation (ONE); January 13, 2004 represents the day before JPM agreed to acquire ONE 2 Represents ONE’s annualized total return until June 30, 2004 and is subsequently projected to mirror JPM's total return post merger completion on July 1, 2004 154 125 144 141 127 70 69 1 2 3 4 Annualized total return Annualized total return 3/26/00- 2/19/13 ONE/JPM2 9.4% BKX (0.1) S5FINL (0.3) SPX 1.9 Annualized total return Annualized total return 1/1/12- 2/19/13 JPM 46.5% BKX 38.2 S5FINL 35.4 SPX 21.7 Annualized total ret rn Annualized total return 1/1/08- 2/19/13 JPM 4.8% BKX (6.6) S5FINL (7.0) SPX 3.1 2 Ann alized total ret rn Annualized total return 1/13/04- 2/19/13 JPM 5.4% BKX (3.3) S5FINL (2.6) SPX 5.6 0 40 80 120 160 200 01/13/04 11/08/05 09/04/07 06/30/09 04/26/11 02/19/13 JPM BKX S5FINL SPX 165 162 74 79 5

J P M O R G A N C H A S E O V E R V I E W Asset Management Chase – CCB JPMorgan – CIB Commercial Banking “Deep relationships, efficiency, new markets expansion”  10 consecutive quarters of loan growth  #1 U.S. multifamily lender since 200810 Building market leading franchises JPMorgan Chase overview – Franchise leadership 1 American Customer Satisfaction Index (ACSI), December 2012 2 Keynote, November 2012 3 Compete.com Rankings, December 2012 4 FDIC data as of June 2012 5 J.D. Power Survey; JPM ranked #4 for customer satisfaction in originations and #4 in servicing on an overall basis 6 # of units, per SBA data 7 Based on Inside Mortgage Finance 8 Represents credit, debit and prepaid combined payments volume 9 Thomson Reuters FY2012 10 FDIC 2008 – YTD 3Q12 11 2012 Chase Relationship Survey 12 Strategic Insight 2012 13 Euromoney 2012 “Global reach, breadth of product and clients, investment performance”  #2 U.S. active mutual fund rank (by flows)12  #1 Private Bank for Ultra-High-Net Worth globally13; 10 consecutive years of Private Banking revenue growth  15 consecutive quarters of positive long-term flows; $2.1T in clients assets; 76% of fund AUM in top two quartiles (5-year)  #1 large middle market syndicated lender9 “Acquiring and deepening relationships; focus on customer satisfaction”  ~50% of U.S. households have a Chase relationship  #1 customer satisfaction among large banks1  #1 rated mobile app2 ; #1 online financial services destination3  #1 ATM network; #2 in branches; ~3x industry avg. deposit growth4  #1 customer satisfaction of large banks for originations/servicing5  #1 Small Business Administration lender6 – 3rd straight year  #2 in mortgage originations7, up from #5 in 2006  #1 in total U.S. payments volume8; #1 Global Visa issuer “Market share gains, client relationships, international expansion”  ~80% of Fortune 500 companies are our clients  CIB presence in 59 countries  #1 in Global IB fees; #1 in Markets revenue share  #1 in All American Fixed Income & Equity Research  $1T+ of securities traded and settled daily  $980T of USD payments in FY2012; $4T average daily  #1 USD wire clearer with 20% share of Fed and CHIPS  $356B in average client deposits and other third-party liabilities  89% customer satisfaction11 6

J P M O R G A N C H A S E O V E R V I E W Firmwide cross-sell and synergies JPMorgan Chase overview – Franchise leadership Other network benefits – branding, funding and earnings diversification Note: Totals may not sum due to rounding 1 Cross-sell revenue counted in both LOBs generating the revenue in partnership and therefore must be divided by 2 as they are totaled into the $14B 2 Calculated based on gross domestic IB revenue for SLF, M&A, Equity Underwriting and Bond Underwriting  Primarily procurement, also includes technology, operations and other ~$14B1  ~$2.0B: Global Corporate Bank incremental revenue between 2009 and 2012  ~$0.5B: Gross FX revenue generated by TSS clients Cross–LOB  ~$1.1B: IM products sold through the PB  ~$1.5B: Credit Cards sold through branches  ~$0.2B: Products sold to Card customers  CB and CIB cross-sell: $4.0B  ~$2.4B: TS revenue reported in CB (>80% of CB clients use TS products)  ~$1.6B: gross IB revenue from CB clients (31% of NA IB revenue2)  AM and CIB cross-sell: ~$1.0B  AM is an important client of CIB’s global custody and fund services  The Private Bank (PB) is a key distribution channel for CIB equity offerings  Referrals between CIB and PB result in incremental IB transactions/PB clients  AM and CCB cross-sell: ~$0.6B – JPM IM products sold through branches (incl. CPC)  AM and CB cross-sell: ~$0.5B – Sale of IM products to CB clients  CB and CCB cross-sell: ~$0.2B – Paymentech revenue for CB clients; ~$0.2B – Global Commercial Card revenue for CB clients; ~55% of CB clients visit a branch quarterly  CIB and CCB cross-sell: ~$0.2B – TS products sold through Business Banking clients Select revenue cross-sell examples (2012 data) LOB cro s s -s e ll S y n e rg ie s ~$3B C o s ts  ~$0.1B: Bus. Banking referrals to Paymentech  ~$2.2B: Mortgage originations though branches CIB ~$5.2B1 CB ~$5.0B1 AM ~$2.1B1 CCB ~$1.2B1 CIB ~$2.6B AM ~$1.1B CCB ~$3.9B 7

J P M O R G A N C H A S E O V E R V I E W JPM continues to be a leader JPMorgan Chase overview – Franchise leadership $100.8 $86.1 $72.5 $91.8 $34.9 $30.5 JPM WFC C BAC GS MS 1 All metrics are excluding DVA. All metrics adjust for DVA at a marginal tax rate of 38% for all peers; see note 4 on slide 41 2 BAC adjusted for DVA and fair value option adjustment of ($7.6)B 3 YoY growth from 2011 to 2012 4 290% $21.9 $19.4 $9.4 $8.9 $7.9 $2.7 JPM WFC C BAC GS MS 16% 17% 6% 5% 12% 5% JPM WFC C BAC GS MS FY2012 Net income1 ($B) FY2012 Managed revenue1 ($B) FY2012 ROTCE1 2 2 2 YoY EPS growth1,3 25% 19% (10)% WFC C BAC2 N/M GS4 MS JPM N/M N/M 8

J P M O R G A N C H A S E O V E R V I E W JPMorgan Chase Best-in-class JPM overhead ratio Best-in-class peer1 overhead ratios weighted by JPM revenue mix Peer overhead ratios1 CCB 58% 56% CIB 62% 67% CB 35% 37% AM 71% 69% Overhead ratio (excl. DVA) 64% 65% JPM efficiency versus best-in-class peers JPMorgan Chase overview – Franchise leadership Note: JPM data presented on a managed basis; JPM and peer data represent full-year 2012 data, except where noted; All data for CIB and peer banking businesses is excl. DVA 1 Peer data reflects JPM equivalent business segment results with the exception of Goldman Sachs, T. Rowe Price, Blackrock and Blackstone 2 See note 6 on slide 41 3 For American Express U.S. Card Services (USCS), estimated rewards expense is removed from expenses and netted against revenue, consistent with industry practice 4 Allianz Asset Management and Northern Trust Personal Financial Services results as of 3Q12 5 See note 4 on slide 41 6 Best-in-class overhead ratio represents Wells Fargo Community Banking, American Express USCS, Goldman Sachs, State Street Investment Servicing, US Bancorp Wholesale Banking and CRE, PNC Corporate & Institutional Banking, UBS International Wealth Management and Wealth Management Americas and Blackrock weighted based on JPM's revenue mix WFC & AXP GS (excl. DVA) & STT Avg. of PNC & USB UBS WM & BLK 6 58% 54% 90% 54% 81% WFC AXP BAC USB PNC Avg: 67% 3 66% 71% 61% 81% 82% 84% 77% GS STT C DB MS CS BK Avg: 75% 36% 39% 50% 56% 32% 51% 54% PNC USB WFC STI CMA FITB KEY Avg: 45% 75% 62% 55% 64% 65% 71% 74% 77% 81% 86% UBS BLK TROW Allianz NTRS BX CS BAC WFC MS Avg: 71% 4 4 (excl. DVA) 2 5 9

J P M O R G A N C H A S E O V E R V I E W $21.9 ~$27.5 +/- $1.3 $2.3 $1.3 ($2.5) ($0.5) $3.5 FY12 NI (excl. DVA)1 Corporate significant items2 NII – Rate improvement4 Pro forma NI Investments Corporate litigation3 Normalized credit costs5 Normalized Mortgage Banking (excl. credit)6 Note: Figures tax effected at 38%, where applicable 1 See note 4 on slide 41 2 Represents $2.2B (pretax) of significant revenue items including ($5.8)B of losses incurred by CIO from the synthetic credit portfolio for the six months ended June 30, 2012, and ($449)mm of losses incurred by CIO from the retained index credit derivative positions for the three months ended September 30, 2012; $1.5B CIO securities gains, $1.1B benefit from WaMu bankruptcy settlement (1Q12), $0.7B from full recovery of Bear Stearns related first loss note (FY2012) and $0.9B gains from TruPS redemption (3Q12) 3 Represents total Corporate litigation expense in FY2012 ($3.7B pretax) 4 Represents estimated 12 month NII benefit of $2.1B (pretax) from +100bp interest rate change 5 Includes FY2012 loan loss releases ($3.5B after tax negative adjustment) and normalized net charge-offs ($1.0B after tax positive adjustment) based on through-the-cycle NCO rates 6 Represents Mortgage Banking earnings target less 2012 Mortgage Banking reported earnings. Excludes REP credit costs Earnings walk JPMorgan Chase overview – Earnings power  Branch build, Business Banking, CPC  MB capacity and productivity  Global Prime Brokerage build-out  GCB – International expansion  Electronic Equities trading  Middle Market expansion  PB banker build-out / IM expansion  Continued efficiency gains Growth initiatives/ Continued efficiency gains Net income build simulation ($B) 10

Agenda Page F I R M O V E R V I E W 11 Expense and investments 11 JPMorgan Chase overview 1 Balance sheet 15 Appendix – Key investor topics 27 Appendix – Other 31

E X P E N S E A N D I N V E S T M E N T S Firmwide expense by category – An important focus area for us Expense and investments 55.8 57.3 2.3 2.8 4.8 4.6 $62.9 $64.7 2011 2012 2013E 1 Foreclosure-related matters ■ Adjusted expense  Expense reduction of $1B +/-  MB expense reduction  CIB cost synergies  Continued efficiency initiatives  Significant ongoing investment  Higher compliance costs self- funded by efficiencies  IB comp expected to remain relatively consistent  Overall headcount will decrease by 4,000 +/- 60.1 59+/- ■ Corporate litigation and FRM1 ■ Elevated mortgage 58.1 Firmwide expense ($B) Adj. exp. incl. IB comp $58.1 $60.1 IB comp (8.9) (8.5) Adjusted exp. $49.2 $51.6 12

E X P E N S E A N D I N V E S T M E N T S LOB Investment 2012 Expense for aggregate investments1 Comments ~$1,200 $600 ~120 600 ~115 ~50 300 +/- ~140 100 +/- Global Prime Brokerage build-out ~35 175 +/- International expansion/ Global Corporate Bank ~275 600 +/- ~50 100 +/- Middle Market expansion2 ~125 400 ~500 600 ~$2,600 Target annual net income +/- CCB Retail loan officers Mortgage Express ~$4,100 Equities electronic trading Branch builds +/- Business Banking CIB +/-Chase Private Client 600 AM Private Bankers/ IM sales expansion IM business initiatives +/- CB +/-Overview of select investments Expense and investments ¹ Reflects expenses related to select investments with overhead ratios higher than business average 2 Includes WaMu as well as out-of-footprint expansion markets  Expand CB coverage into new markets  Positive return on investment in 2012; continue to add 250+ clients a year  Hired ~500 PB client advisors and ~300 IM salespeople and investors since beginning of 2010  Expansion investments were breakeven in 2012  Portfolio of branches built since beginning of 2002, 150 in 2012  Average branch contributes $1mm+ to pre-tax income when mature  4-year +/- break-even and 8-year +/- payback for 2002-2012 portfolio  1,200 new RMs & business bankers hired since beginning of 2009  Expansion market branches fully staffed and approaching core market productivity levels  Build out int’l platform to facilitate clients’ regional strategies  Successful launch of int’l platform in 2011; steady state 2014/15  Added 1,200 CPC locations since beginning of 2011  22K clients as of 2011; 100K+ clients as of 2012  $11B net new money in 2012  Added nearly 1,600 loan officers since beginning of 2011 to grow retail capacity  Target net income reflects 2011 and 2012 hires 2012 NI impact: ~$600mm  Build out int’l platforms and branches to offer local product capabilities  ~400 new hires, include ~185 bankers hired since end 2009  Focused on building best-in-class electronic trading capabilities  Grew low-touch equities revenue at 17% CAGR since 2010  Improve productivity through origination platform investments  Investment started in 2011; system live effective Dec ’12; fully deployed by 2014 Expect ~$3B of net income in 2016 run-rate 2012 expense and NI impact of cumulative spend from select investments ($mm, except where noted) 13

E X P E N S E A N D I N V E S T M E N T S Building international leading franchises – Substantial progress Investments International clients  61% of CIB clients International revenue3 International expansion target Other international metrics  26% of our Middle Market clients have operations in foreign countries  58% of Chase Middle Market clients are active globally1 and expect international sales to increase in 5 years2  27% of HNW and UHNW clients  47%  3%; up 74% from 2010  34%  $175mm net income for Prime Brokerage  $600mm net income for GCB  ~$165mm 5-year international net income  ~$300mm/year of international AM net income growth CIB CB AM  50% international loan growth since 2010  31% growth in international EFT volume since 2010  Best IB in Latin America (Latin Finance, 2012)  European IB of the year (Financial News, 2011)  45% international loan growth since 2010  118% international deposit growth since 2010  Excellence Award for International Service in Middle Market Banking (Greenwich Associates, 2012)  90% international loan growth since 2010  16% international deposit growth since 2010  Best Private Bank for UHNW clients for Western Europe (Euromoney, 2012)  Asset Manager of the Year in Asia (Asian Investor, 2012) 1 Includes FX 2 Chase Middle Market Business Leaders Outlook survey, March 2012 3 Represents international percentage of LOB revenue 14

Agenda Page F I R M O V E R V I E W 15 Balance sheet 15 JPMorgan Chase overview 1 Expense and investments 11 Appendix – Key investor topics 27 Appendix – Other 31

B A L A N C E S H E E T Fortress JPMorgan Chase balance sheet Balance sheet – Fortress balance sheet Assets Liabilities/Equity Cash, AFS and secured financings1 $684B LTD & Equity $453B Capital markets secured financing2 Capital markets trading assets3 $2,359B $2,359B Goodwill Note: Totals may not sum due to rounding 1 Includes cash and due from banks and deposits with banks (excluding CIB), AFS securities, Fed funds sold and securities purchased under resale agreements and securities borrowed (excluding CIB) 2 Includes resales, securities borrowed and cash and due from banks from CIB 3 Includes CIB trading assets and derivatives receivables 4 Net of allowance for loan losses 5 Includes other assets, other intangible assets, MSR, premises and equipment, accrued interest and accounts receivable and non-CIB trading assets 6 Includes trading liabilities, Fed funds purchased and securities loaned or sold under repurchase agreements, VIEs, other borrowed funds and other liabilities all in CIB and derivatives payable 7 Includes accounts payable and other liabilities, Fed funds purchased and securities loaned or sold under repurchase agreements and VIEs (excluding CIB) 8 Portion already included in capital markets liabilities 9 Number of months of pre-funding: The Firm targets pre-funding of the parent holding company to ensure that both contractual and non-contractual obligations can be met assuming no access to wholesale funding markets; minimum target pre- funding is 18 months 10 Includes wholesale CP funding and a portion of other borrowed funds, which are unsecured Other5 Other liabilities7  29% of total assets  AFS portfolio: AA+ average rating Cash, AFS and secured financings1  40% secured financing  60% trading assets Capital markets assets2,3 Loans4 $712 Deposits $1,194 Consumer Wholesale  $16B wholesale CP  $40B client cash management  $27B other borrowed funds8 CP and other borrowed funds $82B $698B $B HoldCo debt + equity $373 Estimated Basel III RWA (B3 RWA) 1,648 HoldCo debt + equity/B3 RWA 22.6%  ~$700B1 high quality available assets  60% loan-to-deposit ratio  HoldCo pre-funding9: 23 months  Less than $40B wholesale ST unsecured debt10 JPMorgan Chase balance sheet – December 31, 2012 ($B) Capital markets liabilities $509B6 Capital markets secured financing 16

B A L A N C E S H E E T CCB CCB CCB CIB CIB CIB CB CB CB AM AM AM 4Q10 4Q11 4Q12 Loan and deposit growth Balance sheet – NII and NIM drivers Note: Totals may not sum due to rounding 1 Other includes Card run-off portfolio, including certain legacy WaMu loans, legacy balance transfer programs and terminated partner portfolios (e.g. Kohl’s), and CBB run-off portfolio, including discontinued products 2 MB run-off portfolio includes WaMu purchased credit-impaired loans, discontinued products, and certain prime loans with estimated current LTVs greater than 80% as of January 2010 3 AM loans include Wholesale loans originated by AM and Wholesale loans that are held in Corporate 4 Consumer includes CBB, MB and Card, Merchant Services & Auto loans and prime mortgage loans held by AM and Corporate that are classified as Consumer loans (classification is consistent with SEC filings) 5 Total deposits include $46B, $44B and $27B of deposits in the Corporate/Private Equity segment for 4Q10, 4Q11 and 4Q12, respectively 2-yr. CAGR 13% 25% 15% 19% 9% EOP deposits by LOB5 ($B) $1,194 $1,128 Strong core loan and deposit growth helps support net interest income Consumer4 Consumer 4 Consumer 4 CIB CIB CIB CB CB CB AM 3 AM3 AM3 Run-off (MB and other)1,2 Run-off (MB and other)1,2 Run-off (MB and other)1,2 4Q10 4Q11 4Q12 Total EOP loans and core loans ($B) $724 $734 2-yr. CAGR Total: 3% Run-off: (15)% Core: 10% 25% 14% 17% 3% $693 $930 17

B A L A N C E S H E E T Firmwide NII drivers Balance sheet – NII and NIM drivers 1 In CBB, deposit spread compression will negatively impact annual net income by $400mm +/- in 2013. In MB, expect annual reduction in NII of $600mm +/- from run-off in Real Estate Portfolios in 2013; only partially related to NIM 2 High Quality Liquid Assets (previously referred to as LAB) 3 Reflects cumulative impact from 4Q12 through 1Q14 4 Assumes simulated approximate reinvestment rates for securities and loans +100bp Parallel CCB $652 CIB 294 CB 282 AM 150 Treasury/CIO 767 Firmwide EaR $2,145 EaR by LOB NII expected to be generally flat, supported by growth of interest-earning assets Simulated core NIM Rate environment Forward curve Trough/stabilization 1Q14 Cumulative impact3 ~(15)bps Annual NII (pretax, $B), assuming static balance sheet ~$2.0B Growth in core average interest-earning assets required to offset rate compression4 ~7% 2012 Growth in core average interest-earning assets 8%  Modest NIM compression, largely driven by:  Consumer businesses  Limited reinvestment opportunities  Increased deployment into HQLA2 for LCR compliance ~$(400)mm annual NI impact in CBB; ~$(600)mm annual NII impact in MB1 ~$(300)mm +/- NI for 1Q13 for Treasury and CIO Simulated core NIM Commentary Guidance 18

B A L A N C E S H E E T Credit quality trends Balance sheet – Credit quality NCOs by line of business Source: Card Card Card Card MB MB MB MB $27.3B $21.9B $16.2B 2010 2011 2012 Adjusted 4Q12 Annualized CBB CIB CB LLR, ex-PCI 1 1 1 1 1 $24B $12B $9B $8B 1 Card, Merchant Services & Auto 2 4Q12 adjusted NCOs exclude CIB and CB recoveries 3 2012 NPLs are impacted by regulatory guidance issued in the first quarter of 2012 as a result of which the Firm began reporting performing junior liens that are subordinate to nonaccrual senior liens as nonaccrual loans and by regulatory guidance issued in the third quarter of 2012 requiring loans not reaffirmed by the borrower and discharged under Chapter 7 bankruptcy to be reported as nonaccrual loans. For reference, reported NPLs were $14,841mm, $9,993mm and $10,720mm for 2010, 2011 and 2012, respectively 4 Based on peak levels of NCOs and NPLs in 3Q09  The Firm’s net charge-offs and nonperforming loans are down 80%4 and 40%4, respectively, from peak levels  Strong reserve coverage ratio Strong coverage and reserve position Adjusted NPLs3 $15B $10B $8B 2 19

B A L A N C E S H E E T 2012 avg. loans ($B) 2012 NCOs ($B) 2012 NCO rate (%) TTC NCO rate (%) Prime mortgage1 $35.3 $0.40 1.14% 0.10% Home equity 72.7 2.39 3.28 0.50 Credit card 125.5 4.94 3.95 4.00 Auto 48.4 0.19 0.39 1.00 Business banking3 18.1 0.28 1.53 1.10 CIB excl. trade and conduits 47.9 (0.28) (0.59) 1.00 Trade and conduits 62.2 (0.01) (0.01) 0.05 CB CB 119.2 0.04 0.03 0.50 Lending 62.1 0.06 0.10 0.15 Mortgage4 16.4 0.01 0.08 0.05 CCB CIB AM Normalized net charge-off estimates Balance sheet – Credit quality 1 Real Estate Portfolios, excluding option ARMs and PCI 2 Excludes loans held-for-sale 3 CBB reported NCO was 2.27%, including Business banking and the impact of retail overdraft losses 4 Includes $10B of mortgages originated in PB but held in CIO 5 Adjusted 4Q12 NCOs of $8B ~$9B NCOs5 ~$7–8B NCOs Through-the-cycle (TTC) net charge-off estimates 2 20

B A L A N C E S H E E T ($B) Attributed common equity Targets 2012 1/1/2013 2012 Pro forma ROE 1 Through-the- cycle ROE Basel III Tier 1 Common 2 Total Consumer & Community Banking $43.0 $46.0 23% 20% + 8.5% Consumer & Business Banking 9.0 11.0 30 30% + 8.5 Mortgage Banking 17.5 19.5 22 15% +/- 8.5 Card Services 13.1 12.4 27 23% +/- 8.5 Auto & Student 3.4 3.1 21 18% +/- 8.5 Corporate & Investment Bank 47.5 56.5 15 16% +/- 9.5 Commercial Banking 9.5 13.5 20 20% +/- 8.5 Asset Management 5 7.0 9.0 19 25% + 8.5 Total LOBs $107.0 $125.0 19% 19% +/- Corporate 46.0 28.0 Corporate Goodwill 42.0 42.0 Total Firm $195.0 $195.0 15% 16% +/- $24B NI target Common equity and performance targets Balance sheet – Capital 1 Reflects 2012 net income divided by 2013 attributed common equity 2 Basel III Tier 1 common targets reflect 2014 target of 9.5% for CIB, 2013 target of 8.5% for all other LOBs 3 Excludes liquidating real estate portfolios; 17% in 2012 including REP 4 ROE of 16% excluding DVA; see note 4 on slide 41 5 AM pretax margin target remains unchanged at 35%+/- through the cycle; see note 7 on slide 41 6 Total firm ROTCE 6 6 4 3 Corporate detail as of 1/1/2013 ($B) A Item Attributed common equity Comments Legacy portfolios and model enhancements $19 Private Equity/Other Corporate 9 $28 Accelerated benefits of short-term legacy portfolios and model enhancements PE capital expected to generate appropriate return over time; also includes corporate operational risk capital, real estate, BOLI/COLI, DTA and pension A 3 21

B A L A N C E S H E E T Capital projections Balance sheet – Capital 1 See note 3 on slide 41 2 Reflects Bloomberg average of analysts' estimates for dividends of $1.40 per share in 2013 and $1.58 in 2014 as of 2/22/13 3 Net of annual preferred dividends of $700mm; assumes no share repurchases in 2013 and 2014 other than to offset the impact of employee issuance ($2B each year) 4 Reflects Bloomberg average of analysts' estimates for net income of $21.5B in 2013 and $22.3B in 2014 as of 2/22/13 5 Reflects estimated impact of final Basel 2.5 rules and Basel III Advanced NPR  Committed to 9.5% B3T1C by year-end, based on current understanding of rules  There are potential risks, including model approvals and operational risk capital  Additional levers include asset allocations in CIO and active mitigation in CIB  Changes in AOCI not included in the analysis and will depend on rate environment Commentary Significant excess capital in 2014 Estimated Basel III capital projections1 – After dividends2, before share repurchases3 $B 2012 20133 20143 bps Analysts' estimated net income4 ~$22 ~$22 RWA, beginning ~$1,650 $1,600 Ru -off and mitigants (passive) (105) (75) ~100bps Core growth 55 15 (40)bps RWA, at year-end $1,600 $1,540 $159 $175 B3T1C (%) 8.7% ≥ 9.5% ≤ 11.5% Cumulative excess capital5 at 9.5% $28B 22

B A L A N C E S H E E T Firm well-positioned for rising rates Balance sheet – Capital EaR – Potential net interest income increases1 1 As of 12/31/2012. Reflects risk exposure to pretax NII of the Firm's non-market-based business activities (see 3Q12 Form 10-Q disclosure for further discussion on interest rate exposure). Implied curve represents the market expectation of rates over the next 12 months  The forward curve implies moderate rate increases  The Firm is positioned to benefit from rising rates  EaR of $2.1B for a 100bps parallel move beyond forward curve  AOCI/NII relationship  Significant rate rise scenarios could move AOCI by $15B after-tax  Would increase NII and be recovered over 2 or 3 year period Commentary 200 100 Potential increases in NII relative to the implied curve Δ 10Yr Swap (bps) Δ 1 M Libor (b ps ) No curve change 0 100 300 200 $2.1B $5.5B +/- $2.0B +/- $3.5B 23

B A L A N C E S H E E T 2013 CCAR process update Balance sheet – Capital  CCAR submitted to the Fed with planned capital actions request  Planning to use the already approved $3B for 1Q13 in share repurchases  Dividend increases subject to Board and CCAR approval  Repurchases for 2Q13-1Q14, subject to the Fed CCAR approval  Fed to release results of its calculations of the Dodd-Frank Act Stress Test (DFAST)  Assumes no share repurchases or changes to current dividend levels  Table with PPNR, provisions, loan losses by category, OTTI, trading and counterparty losses, other losses, pre-tax income, as well as beginning, ending and minimum pro forma regulatory capital ratios  Will not disclose CCAR results reflective of requested repurchases or dividends, or qualitative assessments  Banks may choose to disclose their own DFAST results  Banks required to release DFAST results no later than March 31st  Banks may not comment on CCAR requests or status of quantitative or qualitative assessments  Banks may not have a detailed understanding of the Fed’s DFAST results relative to own  Banks permitted to provide one-time downward adjustments to their capital requests if the Fed objects to the initial request  Final CCAR results including non-objection/objection to requested capital actions released by the Fed  Disclosure format expected to be similar to prior years March 7th (after Fed release) March 14th (after market close) March 7th (after market close) January 7th 24

B A L A N C E S H E E T 118 223 150 Global Liquidity Reserve Cash HQLA eligible Borrowing capacity and liquid non-HQLA eligible Basel III – Liquidity Coverage Ratio (LCR) Balance sheet – Firmwide liquidity  100% LCR compliance through:  Organic deposit growth  Reinvestment of AFS maturities into HQLA1  Funding mix optimization  Recently released final Basel rules – marginally positive  Awaiting final U.S. rules Estimated LCR Trajectory Commentary Global Liquidity Reserve – December 2012 ($B) $341 $408 Dec. 2012 2013 & Beyond HQLA Net funding outflow ~83% ratio ~$70B Gap 100%+ ratio 1 High Quality Liquid Assets (previously referred to as LAB) Non-HQLA eligible portion consists primarily of Central Bank/FHLB borrowing capacity HQLA= $341B: primarily consists of cash, governments and agency mortgages GLR=$491B 1 Year-end LCR 25

Conclusion  Clear and consistent strategy  Consistent client focus  Consistent investment strategies contributing to growth  Consistent partnership between our businesses  Consistent expense discipline  Strong leadership positions and market share growth  Best-in-class returns and efficiencies  Expect NII generally flat, supported by growth of interest-earning assets  Expect adjusted expense to trend down and improvement in overhead ratio  Significant opportunity for net income growth  Maintain “fortress” operating model  Ability to adapt to new regulatory rules  Return excess capital to our shareholders 26 F I R M O V E R V I E W

Agenda Page F I R M O V E R V I E W 27 Appendix – Key investor topics 27 JPMorgan Chase overview 1 Expense and investments 11 Balance sheet 15 Appendix – Other 31

A P P E N D I X – K E Y I N V E S T O R T O P I C S Jamie Dimon Chairman and Chief Executive Officer Daniel Pinto Co-CEO, Corporate & Investment Bank 30 years at JPM 30 in industry Mike Cavanagh Co-CEO, Corporate & Investment Bank 13 years at JPM 25 in industry Gordon Smith CEO, Consumer & Community Banking 6 years at JPM 32 in industry Doug Petno CEO, Commercial Banking 24 years at JPM 24 in industry Mary Erdoes CEO, Asset Management 17 years at JPM 23 in industry John Donnelly Head of Human Resources 4 years at JPM 34 in industry John Hogan1 Chief Risk Officer 13 years at JPM 24 in industry Frank Bisignano Co-Chief Operating Officer 7 years at JPM 31 in industry Matt Zames Co-Chief Operating Officer 8 years at JPM 20 in industry Steve Cutler General Counsel 6 years at JPM 12 in industry Marianne Lake Chief Financial Officer 13 years at JPM 21 in industry Note: Years shown inside of boxes indicate tenure at JPM and years of industry experience; Not all direct reports to Jamie Dimon are shown in chart 1 Currently on leave of absence; Ashley Bacon acting Chief Risk Officer – 20 years at JPM Attrition rates – best by industry standard – less than 1% attrition over last year for top senior talent  16 direct reports  Average industry experience ~24 years  Average years at JPM ~15 years  7 direct reports  Avg. industry experience ~27 years  Avg. years at JPM ~13 yrs  13 direct reports  Avg. industry experience ~30 years  Avg. years at JPM ~21 yrs  8 direct reports  Avg. industry experience ~28 years  Avg. years at JPM ~18 yrs 2 5 2 4 5 3-5 5-10 10-15 15-20 >20 Tenure at JPM (years) 2 3 9 2-10 10-20 >20 Tenure at JPM (years) 2 3 4 2-10 10-20 >20 Tenure at JPM (years) 4 1 1 5-10 10-15 15-20 >20 Tenure at JPM (years) 28

A P P E N D I X – K E Y I N V E S T O R T O P I C S Peripheral European exposure1 Key investor topics – Europe Securities and trading Lending AFS securities Trading Derivative collateral Portfolio hedging Net exposure Spain $3.1 $0.5 $4.8 ($3.3) ($0.4) $4.7 Sovereign 0.0 0.5 (0.4) 0.0 (0.1) 0.0 Non-sovereign 3.1 0.0 5.2 (3.3) (0.3) 4.7 5 Italy $2.8 $0.0 $12.6 ($2.6) ($5.3) $7.5 Sovereign 0.0 0.0 11.6 (1.4) (4.9) 5.3 Non-sovereign 2.8 0.0 1.0 (1.2) (0.4) 2.2 Other (Ireland, Portugal, and Greece) $1.1 $0.3 $2.5 ($1.6) ($0.7) $1.6 Sovereign 0.0 0.3 0.5 0.0 (0.6) 0.2 Non-sovereign 1.1 0.0 2.0 (1.6) (0.1) 1.4 Total firmwide exposure $7.0 $0.8 $19.9 ($7.5) ($6.4) $13.8  $13.8B total firmwide net exposure as of 4Q12, up from $11.7B as of 3Q12  Net exposure increased primarily due to the impact of client transactions in Italy  The Firm continues to be active with clients in the region 1 Exposure is a risk management view. Lending is net of liquid collateral. Trading includes net inventory, derivative netting under legally enforceable trading agreements, net CDS underlying exposure from market-making flows, unsecured net derivative receivables and under-collateralized securities financing counterparty exposure As of December 31, 2012 ($B) 29

A P P E N D I X – K E Y I N V E S T O R T O P I C S ($B) Fair value Pretax AOCI Avg. credit rating1 Mortgage-backed securities: U.S. government agencies $98 $4.7 AA+ Residential: Prime and Alt-A 2 0.1 AA- Subprime 1 0.0 AA Non-U.S. 72 1.5 AAA Commercial 13 0.9 AA+ Total mortgage-backed securities 186 7.2 AA+ U.S. Treasury and government agencies 6 0.1 AA+ Obligations of U.S. states and municipalities 22 1.8 AA- Certificates of deposit 2 0.0 NR Non-U.S. government debt securities 50 0.9 AA+ Corporate debt securities 37 0.6 A+ Asset-backed securities: Collateralized loan obligations 28 0.4 AA+ Other 13 0.2 AAA CIO AFS portfolio2 $344 $11.2 AA+ Investment and duration management for CIO Key investor topics – CIO AFS portfolio 1 Certain U.S. government and Agency products may not be externally rated, but are included in the AA+ categorization 2 Data only includes CIO. Treasury and other lines of business comprise ~$27B in additional AFS 3 Unrated/locally rated securities of ~$5B were omitted for purposes of calculating average rating 4 Represents the estimated change in a security’s value due to a 1% change in interest rates across the curve, expressed as a number of years (i.e., normalized by the value of the security)  Current CIO AFS portfolio composition balanced between rates and credit products  AA+ average rating; 1.4 year interest rate duration4  Over 80% of CIO AFS portfolio is either government backed, U.S. government agency, or U.S. government rated or better Comments 3 CIO AFS portfolio (December 31, 2012) 30

Agenda Page F I R M O V E R V I E W 31 Appendix – Other 31 JPMorgan Chase overview 1 Expense and investments 11 Balance sheet 15 Appendix – Key investor topics 27

A P P E N D I X – O T H E R 2010 2011 2012 Revenue (FTE)1 $104,842 $99,767 $99,890 Credit Costs1 16,639 7,574 3,385 Expense 61,196 62,911 64,729 Reported net income $17,370 $18,976 $21,284 Reported EPS $3.96 $4.48 $5.20 ROE 10% 11% 11% ROTCE2 15 15 15 Managed financial results1 2010 2011 2012 Consumer & Community Banking $4,578 $6,202 $10,611 Corporate & Investment Banking 7,718 7,993 8,406 Commercial Banking 2,084 2,367 2,646 Asset Management 1,710 1,592 1,703 Corporate/Private Equity 1,280 822 (2,082) Total firm net income $17,370 $18,976 $21,284 Firmwide results ($mm) Net income by lines of business ($mm) 1 See note 1 on slide 41 2 See note 4 on slide 41 32

A P P E N D I X – O T H E R Consumer & Community Banking1 1 See note 1 on slide 41 $mm 2010 2011 2012 Net interest income $33,414 $30,381 $29,150 Noninterest revenue 15,513 15,306 20,795 Revenue $48,927 $45,687 $49,945 Expense 23,706 27,544 28,790 Credit costs 17,489 7,620 3,774 Net income $4,578 $6,202 $10,611 Key drivers/statistics ($B) EOP Equity ($B) $43.0 $41.0 $43.0 ROE 11% 15% 25% Overhead ratio 48 60 58 Average loans ($B) $492.2 $447.2 $426.6 Aver e deposits ($B) 363.6 382.7 413.9 Number of branches 5,268 5,508 5,614 Number of ATMs 16,145 17,235 18,699 Active online customers (000's) 28,708 29,749 31,114 Active mobile customers (000's) 4,873 8,203 12,359 33

A P P E N D I X – O T H E R Consumer & Community Banking Consumer & Business Banking (“CBB”) 1 Includes checking accounts and Chase Liquid® cards beginning in the 2nd quarter of 2012 2 Per compete.com as of December 2012 3 Based on number of loans as of January 2013 $mm Leadership positions  #1 in customer satisfaction among large banks in ACSI survey  #1 ATM network  #2 in branches  #1 most visited banking portal – Chase.com2  #1 SBA lender3  Leading investment sales force with nearly 3,000 client advisors, $150B+ client investment assets and 1,218 Chase Private Client locations 2010 2011 2012 Net interest income $10,884 $10,808 $10,673 Noninterest revenue 6,852 7,210 6,539 Revenue $17,736 $18,018 $17,212 Expense 10,762 11,243 11,453 Credit costs 630 419 311 Net income $3,630 $3,796 $3,263 Key drivers/statistics ($B) Average total deposits $340.8 $360.7 $392.1 Deposit margin 3.00% 2.82% 2.57% Accounts1 (mm) 27.3 26.6 28.1 Business B nking loan originations $4.7 $5.8 $6.5 Business Ba king loan balances (Avg) 16.9 17.1 18.1 Investment s les 23.6 22.7 26.0 Client investment assets (EOP) 133.1 137.9 158.5 34

A P P E N D I X – O T H E R Consumer & Community Banking Mortgage Banking $mm Leadership positions  #2 mortgage originator3  #2 retail mortgage originator3  #3 mortgage servicer3  We are working to help homeowners and prevent foreclosures; offered over 1.4mm mortgage modifications and completed ~610K since 2009 1 Real Estate Portfolios only 2 Excludes the impact of purchased credit-impaired loans acquired as part of the WaMu transaction 3 Based on Inside Mortgage Finance 2010 2011 2012 Mortgage Production Production-related revenue, excl. repurchase losses $4,309 $4,235 $6,570 Production expense 1,613 1,895 2,747 Income, excl. repurchase losses $2,696 $2,340 $3,823 Repurchase losses (2,912) (1,347) (272) Income/(loss) before income tax expense/(benefit) ($216) $993 $3,551 Mortgage Servicing Net servicing-related revenue $2,624 $2,620 $2,957 Default servicing expense 1,747 3,814 3,707 Core servicing expense 837 1,031 1,033 Servicing expense $2,584 $4,845 $4,740 Income/(loss), excl. MSR risk management 40 (2,225) (1,783) MSR risk management 1,151 (1,572) 616 Income/(loss) before income tax expense/(benefit) $1,191 ($3,797) ($1,167) Real Estate Portfolios Revenue $5,547 $4,592 $4,092 Expense 1,627 1,521 1,653 Net charge-offs 6,450 3,805 3,341 Change in allowance 1,781 (230) (3,850) Credit costs 8,231 3,575 (509) Income/(loss) before income tax expense/(benefit) ($4,311) ($504) $2,948 Mortgage Banking net income/(loss) ($1,924) ($2,138) $3,341 Key drivers/statistics ($B) Mortgage loan originations $155.6 $145.6 $180.8 Retail channel originations 68.8 87.2 101.4 3rd party mtg lo ns svc'd (EOP) 967.5 902.2 859.4 EOP NCI owned portfolio1 150.3 132.5 117.6 ALL/EOP loans1,2 6.47% 6.58% 4.14% Net charge-off rate1,2 3.98 2.70 2.68 35

A P P E N D I X – O T H E R Consumer & Community Banking Card, Merchant Services & Auto $mm Leadership positions  #1 credit card issuer in the U.S. based on loans outstanding4  #1 Global Visa issuer based on consumer and business credit card sales volume5  #1 U.S. co-brand credit card issuer4  #2 wholly-owned merchant acquirer6  #2 non-captive in new/used vehicles sold at franchised dealers7 2010 2011 2012 Revenue $20,472 $19,141 $18,770 Expense 7,178 8,045 8,216 Net charge-offs1 14,722 7,511 5,509 Change in allowance (6,152) (3,890) (1,556) Credit costs $8,570 $3,621 $3,953 Net income $2,872 $4,544 $4,007 Card Services – Key drivers/statistics ($B) Average loans $144.4 $128.2 $125.5 Sales volume2 313.0 343.7 381.1 Net revenue rate 11.89% 12.35% 12.35% Net charge-off rate3 9.72 5.40 3.94 30+ Day delinquency rate3 4.07 2.81 2.10 # of accounts with sales activity (mm)2 39.9 30.7 30.6 % of accounts acquired online2 15% 32% 51% Merchant Services – Key drivers (B) Merchant processing volume $469.3 $553.7 $655.2 # of total transactions 20.5 24.4 29.5 Auto – Key drivers ($B) Average loans $47.6 $47.0 $48.4 Originations 23.0 21.0 23.4 1 Net charge-offs and net charge-off rates for the year ended December 31, 2012, included $53mm of charge-offs related to regulatory guidance 2 Excludes Commercial Card 3 See note 5 on slide 41 4 Based on disclosures by peers and internal estimates 5 Based on Visa data as of December 31, 2012 6 Based on Nilson report, 2011 7 YTD as of November 30, 2012 data per Autocount 36

A P P E N D I X – O T H E R Corporate & Investment Bank1 $mm Leadership positions Corporate & Investment Bank  47% international revenue for FY2012; FY2012 up 6% excl. DVA  International deposits increased 29% from FY2010, driven by growth in Asia  International loans up 50% since FY2010  Gross CIB revenue from CB clients up 9% YoY  Strategic Reengineering Program ~80% complete Banking  Widened the gap to #2 competitor YoY in Global IB fees per Dealogic  TS firmwide revenue up 9% YoY  #1 in combined Fedwire and CHIPS volume, Federal Reserve, 2002 – 2012  Total international electronic funds transfer volume up 31% from FY2010 Markets & Investor Services  #1 Fixed Income Markets revenue share of top 10 investment banks9  International AUC up 33% from FY2010; 44% of FY2012 total AUC  JPM ranks #1 for FY2012, FY2011, and FY2010 for both All-American Fixed Income Research and Equity Research 1 See notes 1 and 6 on slide 41 2 Lending revenue includes net interest income, fees, gains or losses on loan sale activity, gains or losses on securities received as part of a loan restructuring, and the risk management results related to the credit portfolio (excluding trade finance) 3 Includes results of the synthetic credit portfolio that was transferred from the CIO effective July 2, 2012 4 Primarily includes credit portfolio credit valuation adjustments (“CVA”) net of associated hedging activities; DVA on structured notes and derivative liabilities; and nonperforming derivative receivable results effective in the first quarter of 2012 and thereafter. Included DVA on structured notes and derivative liabilities measured at fair value. DVA gains/(losses) were $(930) million, $1.4 billion and $509 million for the years ended December 31, 2012, 2011 and 2010, respectively 5 Return on equity excluding DVA, a non-GAAP financial measure, was 19%, 15% and 16% for the years ended December 31, 2012, 2011 and 2010, respectively 6 Compensation expense as a percentage of total net revenue excluding DVA, a non-GAAP financial measure, was 32%, 36% and 38% for the years ended December 31, 2012, 2011 and 2010, respectively. In addition, compensation expense as a percent of total net revenue for the year ended December 31, 2010, excluding both DVA and the payroll tax expense related to the U.K. Bank Payroll Tax on certain compensation awarded from December 9, 2009, to April 5, 2010, to relevant banking employees, which is a non-GAAP financial measure, was 36% 7 Average client deposits and other third party liabilities pertain to the Treasury Services and Securities Services businesses, and include deposits, as well as deposits that are swept to on-balance sheet liabilities (e.g., commercial paper, federal funds purchased and securities loaned or sold under repurchase agreements) as part of client cash management programs 8 ALL/EOP Loans as reported was 1.19%, 1.35%, and 2.40% for FY12, FY11, and FY10, respectively 9 Represents FY2012 rank of JPM Fixed Income Markets revenue of 10 leading competitors (which have released FY2012 as of 2/20/13; HSBC TTM 3Q12 basis) 2010 2011 2012 Corporate & Investment Bank revenue 33,477 33,984 34,326 Investment banking fees 6,186 5,859 5,769 Treasury services 3,698 3,841 4,249 Lending2 811 1,054 1,331 Total Banking 10,695 10,754 11,349 Fixed income markets3 14,738 14,784 15,412 Equity markets 4,582 4,476 4,406 Securities services 3,683 3,861 4,000 Credit adjustments & Other4 (221) 109 (841) Total Markets & Investor Services 22,782 23,230 22,977 Credit costs (1,247) (285) (479) Expense 22,869 21,979 21,850 Net income $7,718 $7,993 $8,406 Key statistics ($B) EOP equity $46.5 $47.0 $47.5 ROE5 17% 17% 18% Overhead ratio 68 65 64 Comp/revenue6 37 34 33 EOP loa s $84 $114 $115 Client deposits & liability balances7 248.5 318.8 355.8 Assets under custody ($T) 16.1 16.9 18.8 ALL/EOP loans ex conduits and trade8 4.90% 3.06% 2.52% Net charge-off/(recovery) rate 0.95 0.18 (0.26) VaR ($mm) $87 $76 $96 37

A P P E N D I X – O T H E R 1 See note 1 on slide 41 2 Includes deposits, as well as deposits that are swept to on-balance sheet liabilities (e.g., commercial paper, federal funds purchased and securities loaned or sold under repurchase agreements) as part of client cash management programs 3 Represents the total revenue related to investment banking products sold to CB clients 4 Loans held-for-sale and loans at fair value were excluded when calculating the loan loss coverage ratio and net charge-off rate 5 Calculated based on average equity 6 Based on CB-equivalent segments or wholesale portfolios at BAC, CMA, FITB, PNC, STI, USB, WFC and KEY 7 Thomson Reuters FY12 8 FDIC 9/30/12 Commercial Banking1 Leadership positions  Lowest net charge-off ratio in peer group6  #1 large middle market syndicated lender in the U.S.7  #1 multifamily lender in the U.S.8 $mm 2010 2011 2012 Revenue $6,040 $6,418 $6,825 Middle Market 3,060 3,145 3,334 Corp. Client Banking 1,154 1,261 1,456 Comm. Term Lending 1,023 1,168 1,194 Real Estate 460 416 438 Other 343 428 403 Expense 2,199 2,278 2,389 Credit Costs 297 208 41 Net Income $2,084 $2,367 $2,646 Key Statistics ($B) Avg Loans $97.0 $104.2 $120.1 EOP Loans 98.9 112.0 128.2 Avg client deposits2 138.9 174.7 195.9 Investment banking revenue, gross3 ($mm) 1,335 1,421 1,597 Allow. for loan losses 2.6 2.6 2.6 Nonaccrual loans 2.0 1.1 0.7 Net charge-off rate4 0.94% 0.18% 0.03% ALL/loans4 2.61% 2.34% 2.06% ROE5 26% 30% 28% Overhead ratio 36% 35% 35% EOP equity $8.0 $8.0 $9.5 $mm 38

A P P E N D I X – O T H E R Asset Management1 1 See note 1 on slide 41 2 Calculated based on average equity 3 See note 7 on slide 41 4 Source: iMoneyNet, 2012 5 Source: Euromoney, 2012 6 Source: Institutional Investor, 2012 7 Source: Pensions & Investments, 2012 8 Source: Absolute Return, 2012 9 Source: Strategic Insight, 2012 10 Source: Thomson Reuters, 2012 11 Source: The Asset, 2012 $mm Leadership positions  #1 Institutional Money Market Fund Manager Worldwide4  #1 Ultra High Net Worth Private Bank Globally5  #1 Manager of the Year for Large Cap Growth & Infrastructure6  #1 U.S. Private Equity & Alpha Strategies Manager7  #2 Hedge Fund Manager8  #2 U.S. Total New Mutual Fund flows9  Top European Buyside Firm10  Best Asset Management Company for Asia, Hong Kong, and Japan11 2010 2011 2012 Revenue $8,984 $9,543 $9,946 Private Banking 4,860 5,116 5,426 Institutional 2,180 2,273 2,386 Retail 1,944 2,154 2,134 Credit costs $86 $67 $86 Expense 6,112 7,002 7,104 Net income $1,710 $1,592 $1,703 Key statistics ($B) EOP equity $6.5 $6.5 $7.0 ROE 2 26% 25% 24% Pretax margin3 31 26 28 Assets under management $1,298 $1,336 $1,426 Assets under supervision 1,840 1,921 2,095 Average loans 38.9 50.3 68.7 EOP loans 44.1 57.6 80.2 Average deposits 86.1 106.4 129.2 39

A P P E N D I X – O T H E R Corporate/Private Equity1 Net income ($mm) 2010 2011 2012 Private Equity $588 $391 $292 Treasury and CIO 3,576 1,349 (2,093) Other Corporate (2,884) (918) (281) Net Income $1,280 $822 ($2,082) 1 See note 1 on slide 41 40

Notes on non-GAAP financial measures 1. In addition to analyzing the Firm’s results on a reported basis, management reviews the Firm’s results and the results of the lines of business on a “managed” basis, which is a non-GAAP financial measure. The Firm’s definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the business segments) on a fully taxable-equivalent (“FTE”) basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable securities and investments. This non-GAAP financial measure allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business. 2. Tangible common equity (“TCE”) represents 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. Return on tangible common equity measures the Firm’s earnings as a percentage of TCE. In management’s view, these measures are meaningful to the Firm, as well as analysts and investors, in assessing the Firm’s use of equity, and in facilitating comparisons with peers. 3. The Basel I Tier 1 common ratio is Tier 1 common capital divided by Basel I risk-weighted assets. Tier 1 common capital is defined as Tier 1 capital less elements of Tier 1 capital not in the form of common equity, such as perpetual preferred stock, noncontrolling interests in subsidiaries, and trust preferred capital debt securities. Tier 1 common capital, a non-GAAP financial measure, is used by banking regulators, investors and analysts to assess and compare the quality and composition of the Firm’s capital with the capital of other financial services companies. The Firm uses Tier 1 common capital along with other capital measures to assess and monitor its capital position. In December 2010, the Basel Committee finalized further revisions to the Basel Capital Accord, commonly referred to as “Basel III.” In June 2012, U.S. federal banking agencies published final rules on Basel 2.5 that went into effect on January 1, 2013, that provide for additional capital requirements for trading positions and securitizations. In June 2012, U.S. federal banking agencies also published a Notice of Proposed Rulemaking (the “NPR”) for implementing Basel III, in the United States. Basel III revised Basel II by, among other things, narrowing the definition of capital, and increasing capital requirements for specific exposures. Basel III also includes higher capital ratio requirements. The Firm’s estimate of its Tier 1 common ratio under Basel III is a non-GAAP financial measure and reflects the Firm’s current understanding of the Basel III rules based on information currently published by the Basel Committee and U.S. federal banking agencies and on the application of such rules to its businesses as currently conducted; it excludes the impact of any changes the Firm may make in the future to its businesses as a result of implementing the Basel III rules, possible enhancements to certain market risk models, and any further implementation guidance from the regulators. Management considers this estimate as a key measure to assess the Firm’s capital position in conjunction with its capital ratios under Basel I requirements, in order to enable management, bank regulators, investors and analysts to assess the Firm’s capital position and to compare the Firm’s capital under the Basel III capital standards with similar estimates provided by other financial services companies. 4. In addition to reviewing JPMorgan Chase's net interest income on a managed basis, management also reviews core net interest income to assess the performance of its core lending, investing (including asset/liability management) and deposit-raising activities, excluding the impact of Corporate & Investment Bank (“CIB”) market-based activities. The presentation includes information on managed core net interest income and core net interest margin. Each of these amounts is a non-GAAP financial measure due to the exclusion of CIB's market- based net interest income and the related assets. Management believes the exclusion of CIB's market-based activities provides investors and analysts a more meaningful measure by which to analyze non-market related business trends of the Firm and provides a comparable measure to other financial institutions primarily focused on core lending, investing and deposit-raising activities. Further, the impact of DVA is excluded from the calculation of return on Basel I risk-weighted assets, EPS growth, firmwide overhead ratio, and return on equity, which are non- GAAP financial measures used by management to assess the underlying performance of the business and for comparability with peers. 5. In Consumer & Community Banking, supplemental information is provided for Card Services, to provide more meaningful measures that enable comparability with prior periods. The net charge-off rate and 30+ day delinquency rate presented include loans held-for-sale. 6. CIB provides several non-GAAP financial measures which exclude the impact of DVA on: net revenue, net income, overhead ratio, compensation ratio and return on equity. These measures are used by management to assess the underlying performance of the business and for comparability with peers. The ratio for the allowance for loan losses to period-end loans is calculated excluding the impact of trade finance loans and consolidated Firm-administered multi-seller conduits, to provide a more meaningful assessment of CIB’s allowance coverage ratio. Additional notes on financial measures 7. Pretax margin represents income before income tax expense divided by total net revenue, which is, in management’s view, a comprehensive measure of pretax performance derived by measuring earnings after all costs are taken into consideration. It is, therefore, another basis that management uses to evaluate the performance of AM against the performance of their respective peers. Notes 41 F I R M O V E R V I E W

February 26, 2013 C O N S U M E R & C O M M U N I T Y B A N K I N G Gordon Smith, Chief Executive Officer Consumer & Community Banking

C O N S U M E R & C O M M U N I T Y B A N K I N G Chase Consumer & Community Banking is a consumer and small business franchise of unparalleled scope and quality – and would be nearly impossible to replicate  We have consumer relationships with almost half of U.S. households  #1 in customer satisfaction1, leading to cross-sell and relationship deepening  #1 online financial services destination, #1 rated mobile app  The cost to serve fully digital customers is substantially lower  #2 Branch and #1 ATM network  Branch network heavily concentrated in the most attractive U.S. markets  Chase Private Client access to J.P. Morgan Private Bank investments platform  Business Banking access to Commercial Bank specialty lending and Treasury Services cash management  #1 in total U.S. credit, debit, prepaid combined payments volume, #1 global Visa issuer  #2 wholly-owned merchant acquirer Sources: American Customer Satisfaction Index; compete.com; Keynote Systems; Inside Mortgage Finance; Autocount Market Report; Small Business Administration; Nilson report; SNL Financial 1 Among large banks 2 Based on number of loans issued, per SBA data  Mortgage: #2 in originations, #3 in servicing  Auto: #3 Bank originator, #1 in super prime (FICO >740) originations  Business Banking: #1 Small Business Administration lender2  Delivered returns at target levels, despite a challenging environment  Three major growth opportunities – Chase Private Client, Business Banking, and New Branch Builds Powerful customer franchise Firm wide capabilities to meet customer needs Attractive footprint Leading position in Digital Banking World - class payments franchise National, scale lending businesses Strong financial returns 1

C O N S U M E R & C O M M U N I T Y B A N K I N G The underlying profitability of each of our businesses is strong Consumer & Community Banking (CCB) lines of business outlook 2012 2012 adjusted Targets Consumer & Business Banking (CBB) Net branch-build 106 106 100 +/- ROE1 36% 30% 30% + Mortgage Banking Net charge-off rate2 2.68% 2.10% 0.35% +/- ROE1,3 19% 22% 15% +/- Card Services Revenue margin 12.4% 12.4% 12.0-12.5% Net charge-off rate 3.9% 3.9% 4.0% +/- ROE1 25% 27% 23% +/- Auto & Student ROE1 20% 21% 18% +/- 1 Adjusted reflects 2012 net income divided by 2013 attributed common equity 2 2012 adjusted net charge-off rate reflects Real Estate Portfolios only, and excludes PCI loans and one-time adjustments related to the adoption of Chapter 7 Bankruptcy discharge regulatory guidance 3 Adjusted and target ROE excludes liquidating real estate portfolios. Adjusted 2012 ROE including liquidating real estate portfolios would have been 17% 4 Includes liquidating real estate portfolios We continue to deliver target returns, even through a challenging environment 2012 2012 adjusted Targets Consumer & Community Banking ROE1,4 25% 23% 20% + 2

C O N S U M E R & C O M M U N I T Y B A N K I N G 2012 expense 2014 CCB (excluding Mortgage) $19.7B  ~3% expense growth in 2013  ~2% expense growth in 2014  3-4K headcount reduction by year-end 2014 Mortgage Banking $9.1B1  Full year expense down $3B vs. 2012  13-15K headcount reduction by year-end 2014 CCB (excluding Mortgage) expense expected to modestly increase as we continue to grow the business, while Mortgage expense will decline through year-end 2014 While we continue to control costs, we also continue to invest in the business to realize key opportunities 1 Represents total 2012 MB expense, including Production, Servicing and REP. Includes $900mm expense for Foreclosure Related Matters, predominantly IFR settlement; also includes $2.8B of elevated (above normalized target) expense across Mortgage Banking 3

C O N S U M E R & C O M M U N I T Y B A N K I N G The impact of most regulatory changes from Dodd-Frank, Durbin Amendment and the CARD Act are fully accounted for in our 2012 financials Consumer & Business Banking On-book regulatory reform yet to take effect Already in 2012 financials  None  Regulation E (implemented Jul. ‘10) and voluntary actions to reduce NSF/OD fees  Net income impact of $700mm+/- (full run rate impact starting in 3Q10)  Durbin Amendment (implemented Oct. ‘11)  Net income impact of $600mm+/- (full run rate impact starting in 4Q11) Card, Merchant Services & Auto  None  CARD Act (implemented Feb. ‘10)  Net income impact of $750mm+/- (full run rate impact starting in 4Q10)  Includes impact to penalty pricing, limits on late fees, and changes to due date and payment allocation rules Mortgage Banking  Qualified Mortgage / Ability to Repay  Implemented DOJ servicing standards 4

C O N S U M E R & C O M M U N I T Y B A N K I N G Chase has relationships with more U.S. households than any other financial services provider ~4 ~17 ~40 ~48 ~52mm Charles Schwab US Bank Wells Fargo Bank of America Chase Nearly 50% of U.S. households have a Chase relationship 1 To come Chase households 51% In Chase footprint 32% Other 17% Total = 12.5mm Implications  Allows us to focus holistically on customer needs  Provides deep insights into our customers  Significant synergies: e.g., Card cross-sell to existing customers costs 25-50% less than to new customers U.S. households with $500K-$5mm in deposits and investments Estimated penetration of U.S. households Source: Internal data 1 Self-reported number of customers – by definition number of households must be equal to or lower than customer figure Sources: Bank of America’s and US Bank’s Goldman Sachs Financial Services Conference presentations (12/04/12), Wells Fargo’s 2011 Annual Reports, Charles Schwab 2012 Summer Business update, Fidelity.com, American Express 2012 Semi- Annual Financial Community Meeting 5

C O N S U M E R & C O M M U N I T Y B A N K I N G Jun '11 Oct '11 Feb '12 Jun '12 Oct '12 Consumer Banking Business Banking Card Mortgage Banking 57 53 38 35 11 19 33 48 Our focus on customer experience is driving improved customer retention #1 Customer Satisfaction: Large Banks – ACSI #1 Customer Satisfaction: Major Banks – Harris Source: Internal data, 2012 American Customer Satisfaction Index, 2012 Harris Poll 1 % promoters minus % detractors 2 Households that close all Chase relationships Net promoter score1 Household attrition2 by business line Business bank attrition Consumer bank attrition Card attrition 2010 2011 2012 6

C O N S U M E R & C O M M U N I T Y B A N K I N G Average balance per consumer checking account Products and services1 per Consumer Bank household Card spend per active account3 7.2 7.4 7.6 2010 2011 2012 Net new investments ($B) $10,550 $11,649 $12,828 2010 2011 2012 Source: Internal Chase data 1 Products and services counted in the Chase cross-sell definition include deposits (interest checking, money market, etc.), credit (mortgage loans, credit cards, etc.), investments, and services (online banking, mobile banking, etc.) 2 Previously disclosed 2010 cross-sell of 6.7 has been restated to include mobile banking and pre-authorized transfers 3 Reflects accounts that had sales activity during the year; excludes Commercial Card and Kohl’s +10% +10% 2 $3,657 $3,899 $4,276 2010 2011 2012 +7% +10% $2.8 $5.8 $11.1 2010 2011 2012 +107% +91% We are among the best at cross-selling, but we manage the business to deepen relationships 7

C O N S U M E R & C O M M U N I T Y B A N K I N G 1x ~2x ~7x Segment I Segment II Segment III Income Total investable assets2 <$25K <$75K $25K-$500K $75K-$150K $500K+ $150K+ % of CB households with positive variable contribution4 # of CB3 households 8.7mm 9.4mm 3.2mm 82% 89% 92% We have organized around three consumer segments to better serve our customers’ needs… Source: Internal Chase data Note: Variable contribution and household counts exclude Chase Private Client households 1 Post-implementation of Durbin Amendment and Regulation E opt-in requirement 2 All of a household’s liquid investable assets, held across all financial relationships 3 Consumer Bank 4 Consumer Bank households that cover variable costs and contribute to fixed costs and or or Indexed variable contribution1 per household Goals Deepen relationships and provide wealth management services Drive relationship consolidation through integrated solutions Example products & Expand access and enhance self-service 8

C O N S U M E R & C O M M U N I T Y B A N K I N G …and have similarly segmented our Business Banking clients Source: Internal Chase data (analysis shows full year deposit and credit ADBs) 1 Includes credit card Indexed revenue to Chase per client  ~2,500 dedicated Relationship Managers in the market  ~2,500 Small Business Specialists supporting client needs in branches today  $3.3B annual revenue, ~20% of CBB 1x ~9x Small Business Business Banking Client revenue <$0.5mm in annual company revenue $0.5-20mm in annual company revenue # of clients 1.7mm 570K Total deposits ($B) Total loans outstanding ($B)1 $11.0 $61.8 $25.3 9

C O N S U M E R & C O M M U N I T Y B A N K I N G We have an attractive footprint and leading market share in top markets Source: SNL Financial, Internal Chase data 1 Market defined as Core Based Statistical Area 2 Weighted by Chase branches on the Core Based Statistical Area-level and vs. the national average 3 Weighted by Chase branches on the State-level and vs. the national average  Highly attractive network  26% higher wealth per capita2  16% more people per branch2  12% faster projected population growth3  ~50% of all affluent households are within 2 miles of a Chase branch or ATM Chase branch footprint Out of branch footprint Market1 rank (by deposits and investments) Market Chase deposit share rank 1 New York, NY 1 2 Los Angeles, CA 3 3 San Francisco, CA 3 5 Chicago, IL 1 7 Miami, FL 3 9 Houston, TX 1 10 Dallas, TX 1 11 San Jose, CA 3 12 Seattle, WA 2 13 San Diego, CA 2 14 Phoenix, AZ 1 15 Bridgeport, CT 2 17 Detroit, MI 2 18 Denver, CO 4 20 Atlanta, GA 11 22 Portland, OR 3 23 Austin, TX 2 24 Tampa, FL 10 25 Riverside, CA 3 26 Sacramento, CA 3 27 Cleveland, OH 7 30 San Antonio, TX 5 Total Deposits and Investments ($T): 13.9 Market rank (by deposits and investments) Market 4 Washington, DC 6 Boston, MA 8 Philadelphia, PA 16 Baltimore, MD 19 Minneapolis, MN 21 St. Louis, MO 28 Pittsburgh, PA 29 Hartford, CT Total Deposits and Investments ($T): 3.8 = Top 3 market share 10

C O N S U M E R & C O M M U N I T Y B A N K I N G Banking Traditional account Fully digital account ~(70)% Card ~(30%) Banking Non-mobile Mobile 33% Card 35% We are a leader in digital banking  Keynote Systems  Forrester  Celent  Mobile Commerce Daily Source: December 2012 compete.com rankings 33.5 30.6 29.3 18.6 15.4 12.6 10.2 Chase.com Bankofamerica.com Wellsfargo.com Capitalone.com Citibank.com Americanexpress.com Discovercard.com mm unique visits Lower cost per household Higher retention Most-visited banking portal Award-winning mobile channel Introducing Chase My New Home Source: Internal Chase data “#1 Mobile bank” awarded by: Morgan Online 11

C O N S U M E R & C O M M U N I T Y B A N K I N G Partner debit We have the largest consumer card and mobile payments business  Over 100mm open cards1 across debit, credit and Chase LiquidSM  $600B+ credit and debit spend, ~15% of total US credit and debit spend2  $18B in Mobile payments3 Source: Internal Chase data, Nilson 1 Includes private label cards 2 Excludes WaMu card spend 3 Includes QuickPay, Mobile Bill Pay and ePay Chase credit Partner credit Chase debit Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec +103% 2012 Chase QuickPay volumes Chase LiquidSM 12

C O N S U M E R & C O M M U N I T Y B A N K I N G We have a leading position in Auto lending  Full credit spectrum underwriter  Complementary dealer floorplan and commercial banking businesses  Proprietary partnerships with strong manufacturers Chase’s advantages 2012 Bank auto1 lenders Rank Bank Market share 1 Ally 8.4% 2 Wells Fargo 5.6% 3 Chase 5.5% 4 Capital One 4.3% 5 Bank of America 2.4% 6 Santander 1.7% Source: Autocount Market Report (New & Recent Used at Franchised Dealers and J.D. Power and Associates Power Information Network) 1 Excludes captive lenders * Jaguar, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. Land Rover, the Land Rover logo, and Land Rover Financial Group are trademarks of Land Rover and any use by Chase is under license. Retail / Loan and lease accounts are owned by Chase. 13

C O N S U M E R & C O M M U N I T Y B A N K I N G We have a strong management team with deep experience at JPMorgan Chase and in the industry  Ryan McInerney  CEO, Consumer Banking  7 years with JPMorgan Chase  Eileen Serra  CEO, Card Services  6 years with JPMorgan Chase  Kevin Watters  CEO, Mortgage Banking  14 years with JPMorgan Chase Today’s presenters 14

Agenda Page C O N S U M E R & C O M M U N I T Y B A N K I N G 15 Consumer & Business Banking 15 Mortgage Banking 36 Card Services 54 Wrap-up 71

C O N S U M E R & B U S I N E S S B A N K I N G Consumer & Business Banking includes three best-in-class businesses Source: Internal Chase data, Small Business Administration; SNL Financial 1 Excludes small business credit card 2 By number of loans Business Banking Consumer Banking Chase Wealth Management  ~21mm consumer households  12mm online households  ~8mm mobile households, up 35% YoY  $300B+ deposits  #2 branch network  #1 ATM network  1.7mm households  $159B client investment assets  70% of client investment sales in managed money products  90% growth in net investment flows YoY  2.2mm businesses  ~$75B deposits  ~$19B in loans outstanding1  # 1 Small Business Administration lender2 Consumer & Business Banking 16

C O N S U M E R & B U S I N E S S B A N K I N G The underlying business drivers are strong Source: Internal Chase data 1 Households that close all Chase account relationships 2 Age as of 1/1/2013 3 Includes all CBB branch employees: Tellers (FTE), Personal Bankers, Branch management, SSAs, Business Bankers, and CWM Advisors 2011 2012 Δ Relationships Consumer household relationships (mm) 20.4 21.2 ↑4% Business client relationships (mm) 2.3 2.2 ↓0.1 Consumer households per branch ~3,700 ~3,775 ↑2% Consumer bank household attrition rate (annualized)1 14.3% 10.7% ↓360bps Business bank household attrition rate (annualized)1 24.5% 17.4% ↓710bps Distribution Branches 5,508 5,614 ↑2% ATMs 17,235 18,699 ↑8% Investments ($B) Investment sales 23 26 ↑15% Client investment assets (EOP) 138 159 ↑15% Average deposits ($B) Same-store – Branches >3 years old2 359.3 387.5 ↑8% New build – Branches <3 years old2 1.4 4.6 ↑228% Total 360.7 392.1 ↑9% Branch employees (K)3 Same-store 61.8 58.4 ↓5% New build 4.1 5.1 ↑23% Total 65.9 63.5 ↓4% 2011 2012 Δ Performance ($B) Revenue 18.0 17.2 ↓4% Net income 3.8 3.3 ↓14% ROE 40% 36% ↓400bps 17

C O N S U M E R & B U S I N E S S B A N K I N G We have made great strides in improving the customer experience 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% (36)% 55 60 65 70 75 80 +16 points Improved customer satisfaction1 Lower household attrition (annualized rate)2 Source: Internal Chase data Note: Consumer bank only 1 Top 2 box on a 10 point scale, overall satisfaction 2 Adjusted for incremental 25K households in October 2012 due to escheatment rule changes 18

C O N S U M E R & B U S I N E S S B A N K I N G Chase has been taking share from other large banks and regional competitors… Source: FDIC 2012 Summary of Deposits (as of 6/30/2012) 1 All branches with $1B+ in deposits excluded to adjust for commercial deposits and only capture consumer and small business deposits; includes all commercial banks, credit unions, savings banks, and savings institutions as defined by the FDIC 2 Super Regionals defined as banks ranked 7-50 in retail deposits (minimum retail deposits in the group ~$10B) and PNC; Regionals defined as banks ranked 51-150 by retail deposits (minimum retail deposits in the group ~$2.9B); Community banks defined as all other institutions; Named competitors are excluded from the Super Regional bucket 11.3% 9.9% 8.6% 7.1% 6.7% 3.8% 2.2% 1.5% (4.0)% JPMC JPMC (same store) USB WFC C Community Regional Super Regional BAC Market deposit growth = ~3.2% Losing share Gaining share 2 2 2 (same-store) Change in consumer and business banking deposits 2011-20121 19

C O N S U M E R & B U S I N E S S B A N K I N G …and we gained share in all of our top 25 markets, while maintaining price discipline Source: FDIC 2012 Summary of Deposits (as of 6/30/2012) Note: Excludes branches with >$1B in deposits 1 Market defined as Core Based Statistical Area Chase deposit growth in our top 25 markets1 C h a s e d e p o si t gro w th Market deposit growth Gaining share Losing share 35 24 2011 2012 Rate paid on consumer deposits (bps) 20

C O N S U M E R & B U S I N E S S B A N K I N G Branches are critical to serving all of our customers… Source: Novantas U.S. Multi-Channel Survey (2012), Internal Chase data 1 Includes mobile, tablet computers, and online chat 2 How do you prefer to research bank products?; Which of the following situations best describes how you opened your primary checking account? (N = 3,316) 3 All CBB households, defined by CRM code 4 Age of oldest member of household Researching a product Opening a checking account Online1 Other Branch 2 Consumer channel preference for… 2 75% 74% 74% 75% Segment I Segment II Segment III Business Banking Household segment On average, consumer households visit a branch ~4 times per quarter Consumers typically research online and finalize account opening in branch % of Chase households that visited a branch3 quarterly 65% 73% 75% 78% 78% 77% Under 25 25-34 35-44 45-54 55-64 65+ Household age4 21

C O N S U M E R & B U S I N E S S B A N K I N G Leveraging the retail branch platform  ~30% of Private Bank households visit a branch each quarter  $67B AUM managed for Chase clients  Single largest retail distributor – branches account for $38B or ~20% of J.P. Morgan Investment Management US Retail AUM  ~55% of Commercial Bank customers visit a branch each quarter  1mm branch transactions per month Commercial Banking Consumer & Business Banking Mortgage Banking #1 Small Business Administration lender1 #1 ATM network #3 in deposit market share2 #2 in branches Source: Internal Chase data, Small Business Administration, SNL Financial, Millward-Brown brand tracker 1 By number of loans 2 FDIC data as of June 2012 3 Top 2 box, among those aware …and they deliver value across all of JPMorgan Chase’s businesses Asset Management Card Services  ~50% of Chase branded cards sold through branches  ~65% of Chase Paymentech new sales sourced from Business Banking  In-footprint consumers 20+% more likely to consider3 Chase for a Card relationship  ~50% of retail mortgages originated through branches  In-footprint consumers 45+% more likely to consider3 Chase for a Mortgage relationship 22

C O N S U M E R & B U S I N E S S B A N K I N G However, customer behavior is evolving and we are responding by managing our branches to best serve our customers going forward  Acquire attractive customers  Reduce costs  Enable self-service  Staff more efficiently  Deepen relationships  Evolve from service centers to sales and advice centers  Leverage existing branches and staff to pursue new initiatives, such as Chase Private Client  New builds  Higher value markets where we are underpenetrated  Out of footprint markets  Ensure access for all customer segments  Repositioning  Evaluate evolving real estate costs  Evaluate evolving local population growth and traffic patterns  Consolidations Network optimization Maximizing value per branch + 23

C O N S U M E R & B U S I N E S S B A N K I N G We actively manage our network to drive growth Network optimization For 2013-2014, we expect to add +/- 100 net branches annually (~+2% of our current network) 2010 2011 2012 Beginning branch count 5,154 5,268 5,508 Network management Total new branches opened 171 282 179 New builds 154 260 150 Relocations 17 22 29 Total branches closed (57) (42) (73) Net branches opened 114 240 106 Ending branch count 5,268 5,508 5,614 Source: Internal Chase data Network activity 24

C O N S U M E R & B U S I N E S S B A N K I N G 380 328 430 588 71 61 85 124 9 48 218 2009 2010 2011 2012 Same store Relocations New build 27% CAGR 30 30 29 24 1 6 1 7 17 2009 2010 2011 2012 Same store Relocations New build 16% CAGR Tampa market1 deposits ($mm) Our network repositioning is driving strong results in Tampa and many other markets Network optimization Deposits per branch: $15.0 $12.8 $15.2 $19.8 Source: SNL Financial, Marketrac 1 Market defined as Core Based Statistical Area  Business Banking deposits: CAGR of 57%  Consumer investments: CAGR of 57%  Cards sold in branches: CAGR of 30%  Mortgage origination share rank: from #8 in 2009 to #2 in 2012  Commercial: loans outstanding up $425mm+ Tampa market1 branches 25

C O N S U M E R & B U S I N E S S B A N K I N G We are seeing continuous improvement in new build performance New builds 0 2 4 6 8 10 12 14 1 4 7 10 13 16 19 22 Months since open 2012 2010 2011 Source: Internal Chase data  Lower costs  ~70% of new builds <4,000 square feet by 2014  100% of new builds equipped with self- service banking kiosks  Higher opportunity  ~80% of new builds will offer Chase Private Client services by 2014  More new builds staffed with Mortgage Bankers, Business Bankers, and CWM Advisors  Faster breakeven  6+ months faster breakeven Consumer and business deposits per branch ($mm) by vintage Evolving branch model 26

C O N S U M E R & B U S I N E S S B A N K I N G Year 10 Branch open Year 3 Year 20 Our consistent investments in building our network will drive future growth New builds 9 3 5 4 2 1 25 23 19 17 14 12 66 73 76 79 84 87 Chase Citibank US Bank PNC Wells Fargo Bank of America <3 years old 3-10 years old 10+ years old Source: Internal Chase data, SNL Financial Note: Excludes branches for which SNL lacks open date information Branch network age (%) Typical branch consumer household growth 27

C O N S U M E R & B U S I N E S S B A N K I N G Chase outpaces peers in acquiring and retaining customers Acquire attractive customers Source: TNS’ multi-client Retail Banking Monitor; Internal Chase data TNS survey question = “Most people have one bank they rely on more than any other. Which one of these banks do you consider to be your main or primary bank?” 1 Share of entire US consumer base 2 At month 2 2010 2011 2012 Consumer Banking 21% CAGR Average deposits2 per new checking account 2010 2011 2012 Business Banking 39% CAGR 2009 2012 +9% “Chase captured more new primary bank relationships than any other bank in the U.S. in 2012” Chase share of primary bank relationships1 28

C O N S U M E R & B U S I N E S S B A N K I N G We continue to reduce costs through technology and self-service Reduce costs ~6% of consumer deposits made through QuickDeposit in 4Q12 Mobile Source: Internal Chase data 1 Run rate basis from December actuals Cost to process deposits ~95% lower than at teller 83% of Chase LiquidSM customers receive digital statements Product ~40% lower variable expense vs. traditional checking ~25% reduction in average new build size by 2014 Branch design Cost to build ~33% lower and cost to operate ~25% lower vs. 2012 new builds Self-service banking kiosks can perform ~90% of all teller transactions Self-service banking kiosks ~25% reduction in teller transactions in more than 130 branches to date ~43% of consumer deposits occur at ATMs ATM Cost to process deposits ~85% lower than at teller 20% of active households are direct (online- and phone-only) Online Cost to serve direct customers ~70% lower ~6.5B annual Chase QuickPay $ volume1, ~22mm annual transactions1 Payments Cost to process digital payments ~65% lower than physical checks 29

C O N S U M E R & B U S I N E S S B A N K I N G Source: Internal Chase data 1 Includes non-Chase ATMs. 2 Includes Tellers (FTE), Personal Bankers, Branch management, SSAs, Business Bankers, and CWM Advisors 3 New builds defined as all branches opened post 1/1/2010 We are reducing staff as customers adopt self-service Reduce costs ~20% same-store staffing decline by 2015 via attrition, while simultaneously growing the business 2011 2012 2013e 2014e 2015e Same-store New build Projections (13)% CBB branch staff 2011-2015e2 90% 85% 74% 62% 55% 51% 4Q07 4Q08 4Q09 4Q10 4Q11 4Q12 (39) pts % of consumer deposits through tellers1 3 30

C O N S U M E R & B U S I N E S S B A N K I N G Branches offering Chase Private Client 262 1,218 2011 2012 +956 In 2012, we have taken Chase Private Client from a concept to a successful working model Deepen relationships Chase Private Clients (K) 22 106 2011 2012 +84K Net new deposits and investments ($B) 2 11 2011 2012 +$9B  Performance well above expectations in:  Deepening previously small relationships  Increasing investment penetration  Leverages existing branches, bankers, advisors, and J.P. Morgan Private Bank investment platform – minimal incremental cost  By end of 2013, we will have about two thousand existing branches offering Chase Private Client  Over 80% of Chase’s Segment III clients will be within 5 miles of a branch offering Chase Private Client 2012 2013 Source: Internal Chase data 1 Excludes Chase Private Client pilot branches New investment $ per branch ($mm)1 2.2 7.7 Pre-Chase Private Client Post-Chase Private Client ~3.5x 31

C O N S U M E R & B U S I N E S S B A N K I N G ~56% of Chase Private Client net new funds come from customers previously holding under $100K in balances with Chase, including those new to the bank Deepen relationships Source: Internal Chase data 1 Includes new to bank households Pre-Chase Private Client Post-Chase Private Client Deposits Investments $24 $330 ~14X Balances will continue to grow as these relationships mature Balance ($K) per household for those with <$100K in balances at Chase before joining Chase Private Client1 32

C O N S U M E R & B U S I N E S S B A N K I N G 2009 2012 Core markets Expansion markets2 1 2009 2012 2014e Core markets Expansion markets 2009 2012 2014e Core markets Expansion markets We continue to invest in bringing Chase Business Banking to expansion markets and our performance is on track to meet prior guidance Deepen relationships Source: JPM Chase internal data 1 Arizona, Colorado, Idaho, Utah, Kentucky, Illinois, Indiana, Michigan, Ohio, West Virginia, Wisconsin, Louisiana, Oklahoma, Texas, Connecticut, New Jersey, New York 2 California, Florida, Georgia, Nevada, Oregon, Washington Business relationship managers per branch Loan originations per branch Implications Loan balance per branch  We have achieved our target staffing levels across our markets  We will continue to see balance/revenue gains as newly deployed bankers in expansion markets mature and continue to build their books of business  We are on track to realize the $1B Business Banking opportunity 33

C O N S U M E R & B U S I N E S S B A N K I N G We have a significant opportunity to further deepen personal relationships with Business Banking clients Deepen relationships ~20% of consumer clients are small business owners – we only bank 1/3 of them today …but there is still opportunity to further deepen ~900K card-only business customers in Chase footprint – significant opportunity to improve cross-sell across platforms ~33%1 of Chase Private Clients are also Chase Business Banking clients Business Banking ~2.2 mm clients Consumer Banking +$37B deposits Consumer Lending +$61B O/S Consumer Card +$3B O/S Wealth Management +$13B investments Small business owners are more likely to have a fuller range of personal lending needs Source: Internal Chase data Note: Consumer Lending includes Home Equity Lending, Mortgages, Student Loans, and Auto Loans; Card Services includes small business cards and personal cards, excludes commercial and corporate cards 1 CPC and Business client overlap as of Nov 2012, including primary and beneficiary CPC relationships. Business clients… …have sizable consumer relationships… 34

C O N S U M E R & B U S I N E S S B A N K I N G We are well positioned to outperform  Very strong momentum across all of our key business drivers  Significantly improved customer experience helping us grow our customer base, deepen relationships with our clients, and win market share in all of our markets  Thoughtful optimization of our branch network – new builds, relocations, and consolidations  Disciplined cost management  Enabling self-service  ~20% reduction in same-store staff via attrition by 20151  Smaller branch formats  Chase Private Client and Business Banking are generating significant growth  We expect to deliver 30%+ ROE, while growing the business 1 Includes Tellers (FTE), Personal Bankers, Branch management, SSAs, Business Bankers, and CWM Advisors 35

Agenda Page C O N S U M E R & C O M M U N I T Y B A N K I N G 36 Mortgage Banking 36 Consumer & Business Banking 15 Card Services 54 Wrap-up 71

M O R T G A G E B A N K I N G The Mortgage business is core to the Chase consumer franchise Mortgage: a critical connection to our customers  #2 in originations: $192 billion in 20121  #3 in servicing: 7.6 million customers in our servicing portfolio Source: Inside Mortgage Finance 1 Includes private bank and home equity originations 2 Source: Millward Brown, 3Q12 Mortgage Brand Tracker 3 J.D. Power and Associates industry-wide survey based on satisfaction index Enormous competitive advantage on distribution and brand  4,700 Mortgage Bankers  5,600 bank branches  Brand: strongest consideration among large bank peers2 Superior customer relationships, operations scale and capital strength  Platform to build upon economies of scale  Capital strength to grow servicing business  Top ranked large bank in origination (#4) and servicer (#4) customer satisfaction by J.D. Power3 37

M O R T G A G E B A N K I N G 2012 results demonstrate the strength of the Mortgage franchise P&L ($mm) 1 Production pretax includes repurchases 2010 2011 2012 Actuals Actuals Actuals Mortgage Production pretax 1 ($216) $993 $3,551 Mortgage Servicing pretax 1,191 (3,797) (1,167) Real Estate Portfolios pretax (4,311) (504) 2,948 Mortgage Banking net income ($1,924) ($2,138) $3,341 38

M O R T G A G E B A N K I N G 0 50 100 150 200 250 80% 100% 120% 140% Mar '90 Oct '95 Jun '01 Jan '07 Sep '12 Key indicators suggest the housing market has turned the corner Source: Bloomberg  Demand is strong  Supply is tight  Capacity to purchase has improved Commentary Source: Bloomberg Source: Bloomberg, Fed, BEA, JPMorgan 0 500 1,000 1,500 2,000 2,500 Mar '03 Aug '05 Jan '08 Jul '10 Dec '12 Source: Census Bureau Household formation (K) U.S. housing starts (K) Capacity to purchase homes Household debt to disposable income Home Affordability Index (300) 300 900 1,500 2,100 2,700 Jan '03 Jan '06 Jan '09 Jan '12 39

M O R T G A G E B A N K I N G 178 169 150 138 130 4Q11 1Q12 2Q12 3Q12 4Q12 233 223 212 205 191 167 165 157 139 121 4Q11 1Q12 2Q12 3Q12 4Q12 Judicial foreclosure Non-judicial foreclosure Modification inventory (in 000’s) Foreclosure inventory (in 000’s) Legacy servicing and owned portfolio issues are resolving 1 Judicial foreclosure is a foreclosure method by which the mortgaged property is sold through a court proceeding 1 (27)% (18)% (27)% 40

M O R T G A G E B A N K I N G Doing our part – Our efforts to prevent foreclosures have yielded tremendous results 60% 28% 9% 3% Performing / paid off Modifications / short sales Foreclosures / write-offs Delinquent, not modified (90+ DPD) Total = 640K homes  For our owned mortgages, we have completed modifications/short sales for 28% of the portfolio, effectively forgiving over $10B of principal for more than 179,000 borrowers  We have completed approximately 610,000 modifications to date across our owned and serviced portfolios  Modifications have reduced borrowers payments by a current annual run rate of approximately $1.6B for our owned and serviced loans 1 Excludes government insured loans, all statistics since 2009 Commentary JPMorgan Chase owned mortgages (2009 to 20121) 41

M O R T G A G E B A N K I N G Non-credit-impaired (NCI, $mm) Credit Update – Real Estate Portfolios  Real Estate Portfolios reserves and net charge-offs generally declining at a consistent rate  Net charge-offs declining faster than delinquencies as HPI improves and loss severities decline  Total quarterly net charge-offs likely to be $550mm +/- 1 4Q12 adjusted net charge-offs exclude the effect of an $825mm Chapter 7 Bankruptcy discharge adjustment based on regulatory guidance  Reserve and purchase accounting mark cover remaining lifetime losses  Current reserve and mark reflect ~$34B of lifetime losses – ~$25B has been realized to date $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $400 $500 $600 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 $1,400 NCOs 30-149 Delinquency Purchased credit-impaired (PCI) Net charge-offs1 vs. 30-149 delinquencies ($mm) $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $400 $500 $600 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 $1,400 NCOs Loan Loss Reserves Net charge-offs1 vs. loan loss reserve ($mm) NC O s NC O s L L R Delin q u enc y 42

M O R T G A G E B A N K I N G 2012 Target Total Mortgage Production Pretax income $3,551 $1,500 Mortgage Servicing Servicing operating pretax (1,783) 1,000 MSR risk management 616 - Pretax income ($1,167) $1,000 Real Estate Portfolios Total net revenue 4,092 2,400 Noninterest expense 1,653 950 Credit costs (509) 450 Pretax income $2,948 $1,000 Mortgage Banking pretax income $5,332 $3,500 Mortgage Banking net income $3,341 $2,100 Target earnings: Mortgage Banking can earn $2B ($mm) ■ Market volume $1.5T ■ Market share 15% ■ Pre-tax margin 65bps ■ Third party serviced UPB $1.0T ■ Target expense $325mm/qtr ■ Portfolio $125B ■ Credit costs 35bps 43

M O R T G A G E B A N K I N G $725 $600 $325 ($175) ($100) 4Q12 4Q13 Default volume Efficiency Targete Servicing and default expense will normalize over time Momentum toward normalizing expense (2+ years to achieve)  Default volume continuing to decline naturally  Pursuing delinquent loan sales to further reduce inventories  IFR engagement ending  Normalizing level of operating losses  Realizing benefits of technology and control investments Servicing and default expense1 ($mm) 1 4Q12 Servicing expense excludes Independent Foreclosure Review settlement of ~$700mm and IFR run rate of ~$150mm 44

M O R T G A G E B A N K I N G 2011 2012 2013 2014 2015 Actuals Actuals Estimate Estimate Estimate Target Ending loan balances ($B) $198 $177 $165 $155 $146 $125 Ongoing ($B) 36 36 43 47 52 Legacy ($B) 162 141 122 108 94 Revenue $4,592 $4,092 $3,500 $3,100 $2,900 $2,400 Net Charge-offs 3,805 3,341 2,200 1,800 1,000 450 Change in reserves (230) (3,850) Expense 1,521 1,653 1,500 1,300 1,200 950 Pretax income/(loss) ($504) $2,948 ($200) $0 $700 $1,000 Real Estate Portfolios update  Although NII will decline as portfolio runs down, expense and credit losses will also decline  Additional portfolio growth opportunity exists by retaining high quality agency conforming product Real Estate Portfolios1 – Simulated ending loan balance run-off and pretax income ($mm) 1 Assumes provision for credit losses equals net charge-offs; other reserve actions not simulated 45

M O R T G A G E B A N K I N G We have powerful competitive advantages in mortgage originations Customer focus Distribution Marketing  Up to #4 in 2012 Originations Satisfaction Survey1  Complaints down ~70% from March 2011 to December 2012  4,700 Mortgage Bankers serving 5,600 bank branches and call centers  Branch traffic and marketing drives high sales force productivity  Hiring Mortgage Bankers to deepen branch coverage  Large, receptive customer base to cross-sell, including Chase Private Client  #2 Correspondent franchise, growing share Technology  Chase My New Home mobile app publicly released with strong media support in 2013  2013-2014 implementation of origination platform currently used by originator with best-in-class customer satisfaction 1 J.D. Power and Associates industry-wide survey based on satisfaction index 2 Source: Millward Brown, Mortgage Brand Tracker, as of 3Q12  Strong refinance recapture of existing mortgage customers  Chase brand has highest consideration, intent to apply2 46

M O R T G A G E B A N K I N G J.D. Power Mortgage Servicer Survey – Satisfaction index Consistent focus on the customer experience is driving results 2011 Rank Change from 2011 2012 Rank J.D. Power Mortgage Origination Survey – Satisfaction index 696 723 758 761 776 784 791 817 670 720 770 820 Bank of America Citi Wells Fargo Industry Avg. Chase U.S. Bank BB&T Quicken Loans 2011 Rank Change from 2011 2012 Rank 1 2 3 11 1 2 7 4 - - (4) 7 707 707 725 738 752 758 779 803 670 720 770 820 Bank of America Citi Industry Avg. Wells Fargo Chase SunTrust Mortgage Regions Mortgage BB&T 12 12 - 15 12 4 3 1 1 4 10 5 2 6 4 - 2 4 1 16 14 2 5 3 2 1 14 11 3 3  #1 among large bank peers, for both origination and servicing rankings  Ranking up 8 pots since 2010 for Origination; up 9 spots for Servicing Commentary 47

M O R T G A G E B A N K I N G Out of Branch In BranchOut of footprint In footprint Blank slide Productive sales force with opportunity to deepen coverage  Chase sales force is located in 5,600-strong branch network, five call centers, and mortgage offices in out of branch footprint strategic markets  Chase increased size of Mortgage Banking sales force by 900 in 2012 2012 Chase mortgage banker productivity (applications per banker) +25% Source: Public documents Note: Chase includes branch, out of footprint, and call center mortgage bankers 1 EOP; Wells Fargo includes bank branches and mortgage stores 4,700 11,723 3,270 Mortgage Bankers Mortgage Bankers per branch¹ Chase Wells Fargo Bank of America 0.8 1.7 0.6 4Q12 mortgage bankers vs. branches 1 48

M O R T G A G E B A N K I N G Blank slide While cross-sell volumes to banking customers have increased, significant opportunity remains 1 Loans per branch 2 Households eligible for refinance at 3.5% into a product with offer rate 50 bps lower than the current loan mortgage rate and credit eligible defined as meets FICO and LTV requirements with no bankruptcy or foreclosure history; analysis excludes Home Equity households …and cross-sell of mortgages to them has grown rapidly1… 2010 2011 2012 Refinance Purchase With Checking Without Checking Direct mail response rate HHs wit ut checking HHs with Chase checking 26% CAGR >2x 5.4 1.2 4.2 Chase checking with any mortgage Chase checking with non-Chase mortgage Chase checking with Chase mortgage Opportunity to capture up to 4.2mm refi-eligible Chase checking households currently without Chase mortgage Chase checki HHs with a mortgage Non-Chase mortgage Chase mortgage …but we still have significant opportunity (Dec. 2012, mm households)2 Chase checking HHs are more likely to respond to our offers… 49

M O R T G A G E B A N K I N G Similarly, the Chase Mortgage servicing portfolio represents an additional refinance opportunity 400 350 $1,000 $250 Total Chase servicing book¹ Credit ineligible to refinance No tangible benefit Refinance opportunity Recapture source: County courthouse recordings Note: These recapture rates are limited to loans recorded at the county courthouse funded by specific lender brand (primarily direct originations, but also includes broker when applicable) 2 In footprint and includes purchases captured by same lender We have a significant refinance opportunity (Dec. 2012, $B)… …and we are strong at retaining our existing customers when they refinance 1 Excludes Home Equity 56% 57% 36% 26% Chase Wells Fargo Citi Bank of America % of mortgage refis captured by same lender2 50

M O R T G A G E B A N K I N G Chase’s My New Home Mobile App develops customer relationships as they start their home purchase process Chase My New Home Mobile App  Critical to capture mortgage customers via mobile/internet  90% of home buyers use the internet in their home search1  Chase mobile app helps customers find and finance a home – the only app that brings both together Chase My New Home impact on the brand and mortgage consideration 62% 56% 57% 59% 83% 76% 85% 89% Consider Chase for a mortgage Outstanding customer service Innovative products Forward thinking technology Pre-use Post-use 1 2012 Profile of Home Buyers and Sellers from the National Association of Realtors 51

M O R T G A G E B A N K I N G Normalizing costs  Near term run rate savings from resolution of foreclosure-related matters and other operating losses  Longer term savings will come from decreasing inventories and technology and efficiency gains Customer satisfaction2 Servicing strategies Controls  Implemented servicing standards required by the DOJ/AG settlement and Consent orders1  Marked improvements in audit and compliance reviews  Servicing customer satisfaction improved 10% points since mid-2011 to 73%  Grow performing servicing portfolio to leverage economies of scale  Pursuing the sale (or subservicing) of high risk and non-performing segments  Continue to build off of #2 originations business Improving servicing profitability 1 Subject to regulatory reviews 2 Internal Chase customer satisfaction rating 52

M O R T G A G E B A N K I N G We have a strong and improving franchise Mortgage Production Challenges to our business will continue, but the worst is behind us  Broad distribution  Brand  Unique opportunity to enhance customer experience through technology Mortgage Servicing  Sourced by #2 share originations business  Platform to build upon economies of scale  Capital strength to grow servicing business Real Estate Portfolios  Capital strength to grow high quality loan portfolio  Robust deposit growth efficiently funds loan portfolio 53

Agenda Page C O N S U M E R & C O M M U N I T Y B A N K I N G 54 Card Services 54 Consumer & Business Banking 15 Mortgage Banking 36 Wrap-up 71

C A R D S E R V I C E S Chase Card Services: a leading credit card franchise Source: Internal Chase data 1 Excludes Commercial Card 2 Includes Loans held for sale 3 Mass Affluent includes WaMu (except for sub-prime portion) 4 Excluding the impact of loan loss reserve release, Card Services ROE would have been 11% and 19% in 2011 and 2012, respectively. Assumes tax rate of 38% 2011 2012 Current Targets Revised Targets Performance ($B) Revenue $15.8 $15.5 Expense 6.5 6.6 Net Charge-offs 6.9 4.9 Pretax Pre-LLR 2.4 4.0 Key drivers – Card Services ($B) Average loans outstanding1 $127 $124 EOP loans outstanding1 131 127 Sales volume1 344 381 Net charge-off rate2 5.40% 3.94% 4.5%+/- 4.0%+/- Segment results Affluent and High Net Worth Revenue Margin 11.1% 11.3% 11- 13% ROE 16% 22% > 20% Mass Affluent3 Revenue Margin 11.7% 11.9% 10 – 12% ROE 12% 21% 15 – 18% Small Business Revenue Margin 14.2% 14.0% 13 – 15% ROE 13% 35% > 20% Overall Card Services Results Revenue Margin 12.35% 12.35% 12.0 – 12.5% ROE4 30% 25% 20%+/- 23%+/- Key metrics and performance targets 55

C A R D S E R V I C E S 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% Δ in sales share, 1Q10 - 4Q12 Chase1 AXP – US Card3 +2.10% +1.26% Discover COF ex HSBC2 (0.89)% +0.91% 2012 sales volumes $372B $462B $105B $127B Source: Earnings releases; internal Chase data; internal Chase estimates 1 Chase sales data excludes Commercial Card, WaMu, Kohl’s, cash advances, balance transfers 2 COF excludes Kohl’s 3 AXP – US Card includes cash advances, excludes Commercial Card, Global Network Services (GNS) volumes Chase growth since 1Q10 resulted in industry-leading gains in sales share YoY sales growth 56

C A R D S E R V I C E S Source: Earnings releases, internal Chase estimates, unless otherwise noted 1 Excludes Private Label, Commercial Card, Amex Charge Card, Citi Retail Cards, WaMu; GPCC Outstandings = General Purpose Credit Card Outstandings 2 Excludes WaMu 3 Cap One includes HSBC, Kohl’s and Sony acquisitions. Cap One acquired HSBC in 2Q12 4 Other includes WFC, US Bank, USAA, WaMu and other smaller issuers Industry outstandings have stabilized after several years of sharp declines. We have maintained our relative position 18.2% 17.9% 19.4% 16.4% 12.3% 11.3% 8.4% 10.6% 8.1% 8.7% 7.1% 7.7% 26.4% 27.4% 4Q10 4Q12 100% = $639 B 100% = $645 B Chase2 Bank of America American Express Discover Other4 Citi Capital One3 Card – domestic GPCC (excluding private label) outstandings¹ (in $B) 57

C A R D S E R V I C E S Source: Internal Chase estimates 1 Run-off balances include certain legacy WaMu loans and terminated partner portfolios (e.g., Kohl’s). Run-off balances have been adjusted since 2009 to include additional terminated portfolios 2 Presented on a managed basis (18.5%) (18.7%) (20.4%) (19.4%) $124 $112 $116 $116 $39 $26 $15 $11 2009 2010 2011 2012 2 In 2013, we expect modest single digit growth in outstandings $93 $85 $89 $89 $70 $53 $42 $38 2009 2010 2011 20122 $131 $138 $163 $127 Products  Reinforce product benefits to stimulate engagement and increase wallet share  Ensure customers are in the right products Channels  Expand customer engagement in digital channels  Optimize channel mix for acquisition and servicing  Continue to leverage branch network for cross-selling Customer experience  Optimize underwriting within risk appetite  Optimize line management  Roll out new retention initiatives Run-off1 Core Rewards Non-rewards Consumer and Small Business Card O/S ($B) Growth initiatives $131 $138 $163 $127 58

C A R D S E R V I C E S Post-recession, our portfolio has maintained high credit quality Consumer and Small Business Card net charge-off and delinquency rate trends Source: Internal Chase data. Note: Presented on a managed basis 0.00% 0.40% 0.80% 1.20% 1.60% Delinquency $ roll-rate from current to bucket 2 (0-60 days past due) Delinquency $ roll-rate from current to charge-off (0-180 days past due) 0.00% 0.40% 0.80% 1.20% 0% 2% 4% 6% 8% 10% 12% 2008 2009 2010 2011 2012 NCO rate 30+ day delinquency rate 30-89 day delinquency rate 59

C A R D S E R V I C E S Our customer-centric strategy has focused on customer engagement, and has generated strong results Strategic priority Outcomes  Offer best-in-class Chase-branded products and leading portfolio of partner products  Launched Sapphire, Sapphire Preferred, Freedom and Ink  Built strong partnerships with United, Southwest, Marriott, and Amazon  Signed Ritz Carlton and Fairmont Hotels  Improve customer experience  Enhanced platforms and capabilities for customers and merchants  Restructured call centers  Focused on knowledgeable and relationship-focused product specialists  Improved cardholder retention  Strengthen brand  Invested in marketing to drive awareness, consideration, and usage  Optimize investments to drive greater efficiencies  Improved marketing efficiency by leveraging digital channels  Managed operating expense closely 60

C A R D S E R V I C E S Our Chase-branded rewards cards offer best-in-class value propositions and effectively target affluent consumers and small businesses Focus on customer engagement ↑22.5% ↑20.7% Sales growth ↑12.4% ↑21.3% ↑20.9% ↑5.0% Source: Internal Chase data Revenue growth Chase-branded products: 2011 vs. 2012 61

C A R D S E R V I C E S Airline and hotel partners only2 All partners (including airlines and hotels)1 Our co-brand partners provide unique access to affluent markets and customers Focus on customer engagement Source: Internal Chase data 1 Excludes terminated portfolios 2 Includes Amtrak Partner products key metrics: 2011 vs. 2012 Sales growth Revenue growth Examples: Examples: ↑10.1% ↑12.6% ↑15.4% ↑14.1% 62

C A R D S E R V I C E S Among affluent consumers, Chase has strong brand consideration and has outperformed the market on growth of outstandings and sales 2012 sales growth 15% 9% 8% 0% 2% 4% 6% 8% 10% 12% 14% 16% Chase Affluent AXP US Card Industry Average Sources: Brand Tracker Q4 2012; Federal Reserve Board revolving credit data; internal estimates; Visa and MasterCard data; American Express financial community meeting, February 6, 2013 1 For affluent consumers (HHI $125K+ and/or investable assets of $250K+) 2 3Q12 trailing 12 months; average cardholder spend is defined as spend per open account 3 Excludes Private Label Annual average cardholder spend2 2012 outstandings growth 5% 4% 1% 0% 1% 2% 3% 4% 5% 6% Chase Affluent AXP US Card Industry Average $15,550 $14,897 $11,213 $3,732 $3,051 AXP - Proprietary cards Chase Affluent AXP - Total Visa Mastercard 3 3 51 41 33 31 25 Brand consideration for affluent consumers1 Chase AXP Citi Discover Capital One 63

C A R D S E R V I C E S Service model improvements have strengthened the customer experience and improved retention Improve the customer experience Manager escalations ↓51% Dissatisfaction ↓29% Inbound service Net Promoter Score ↑20% Call transfers ↓28% Source: Internal Chase data, for the period from January – December 2012 1 Based on open accounts for Chase excluding WaMu, Commercial Card and International Retention is up 6 percentage points from 2010 to 20121 64

C A R D S E R V I C E S We continue to find strong opportunities to grow through targeted acquisition of new customers Strengthen the brand Existing customers Media Acquisitions 2010 2011 2012 Business Mass Affluent Affluent/ HNW Source: Internal Chase data Note: All charts include partner cards and exclude Commercial cards Distribution of acquisition spend for U.S. cards, 2010-2012 Distribution of marketing spend for U.S. cards, 2012 To guide acquisition spend, we use a rigorous approach and clear criteria to ensure each marketing investment meets NPV, payback and ROE hurdles 65

C A R D S E R V I C E S Our recent marketing investments have generated more engaged accounts Optimize investments to drive greater efficiencies 2010 2012 +62% 2010 2012 +46% Source: Internal Chase data 1 Data as of month 3 for accounts booked from Jan to Sep. Excludes international and Kohl’s 2 Debit active rate is accounts with spend activity as a % of total new accounts Outstandings 2010 vs. 2012 vintages1 Sales 2010 vs. 2012 vintages1 Debit active rate2 2010 vs. 2012 vintages1 Sales per new account 2010 vs. 2012 vintages1 2010 2012 +56% 2010 2012 +20% 66

C A R D S E R V I C E S We adjusted acquisitions towards digital channels based on customer behavior Optimize investments to drive greater efficiencies Source: Internal Chase data Note: Numbers may not add to 100% due to rounding 1 Excludes terminated partners 2 Other includes primarily instant credit 2011 2012 New account acquisition expense1 Change +5% +6% +20% (30)% Other2 Branch Online Direct Mail 2011 2012 Accounts1 opened (partner and branded) Other2 Branch Online Direct Mail Change 0% (2)% +13% (12)%  In 2012, we opened 6.61 million new accounts  We invested 16% less on new account acquisitions than in 2011  These accounts generated 8% more in first year sales than accounts acquired in 2011 40% 52% 2% 6% 60% 22% 8% 11% 41% 23% 19% 18% 54% 11% 17% 18% (10)% (16)% 67

C A R D S E R V I C E S Source: Earnings releases; internal Chase data. 1Amex’s estimated rewards expense is removed from expense and netted against revenue, consistent with the industry practice 2 Excludes Commercial Card Operating expense and total expense are projected to decline in 2013 while marketing is projected to increase modestly 0.80 1.00 1.20 1.40 1.60 1.80 2.00 2009 2010 2011 2012 2013 Total Expenses Marketing Opex Consumer and Small Business Card expense (indexed to 2009) 40% 41% 41% 51% 54% Discover Citi NA Card Chase Cap One Card Amex US Card 2012 overhead ratio1 (total expense/ revenue) vs. competitors 1 68

C A R D S E R V I C E S Our full ownership of Paymentech, a highly-scaled, leading acquiring business, enables us to meaningfully influence the payments value chain First Data Chase Paymentech Vantiv Elavon Global Payments Heartland Payment Systems TSYS Merchant Solutions #2 wholly-owned merchant acquirer Source: Chase analysis of 2011 bankcard volumes as published by The Nilson Report 1 Includes owned and managed business distinct from alliances/joint ventures 2 Includes BAMS, Citi Merchant Services, SunTrust Merchant Services and Sovereign Merchant Services 3 Includes Wells Fargo Merchant Services and PNC Merchant Services Majority owner Other Partners/ stakeholders First Data Multiple Chase N/A Vantiv FITB/Pvt. Equity USB N/A Global Payments N/A Owned1 Majority owned2 Minority owned3 Heartland N/A TSYS N/A 69

C A R D S E R V I C E S Today we are announcing Chase Merchant Services – a new payments partnership with Visa that will be in market by year end  A customized processing and end-to-end payments platform, leveraging an expanded, 10-year strategic partnership with Visa  Provides merchants with an additional option for consumer payments  Chase Visa Cards continue to benefit from Visa’s U.S. and international acceptance network  Enables Chase to build direct relationships with merchants  Flexibility to negotiate pricing  Ability to streamline operating standards  Opportunity to work directly with merchants on differentiated issuing and acquiring solutions  In the future, Chase cardholders will receive enhanced benefits at Chase Merchant Services merchants, e.g.,:  Targeted, data driven offers  Discounts at point of sale  Expanded pay-with-points capabilities Chase is uniquely positioned to pursue this opportunity Chase Merchant Services 70

Agenda Page C O N S U M E R & C O M M U N I T Y B A N K I N G 71 Wrap-up 71 Consumer & Business Banking 15 Mortgage Banking 36 Card Services 54

W R A P - U P Chase Consumer & Community Banking is a consumer and small business franchise of unparalleled scope and quality – and would be nearly impossible to replicate  We have consumer relationships with almost half of U.S. households  #1 in customer satisfaction1, leading to cross-sell and relationship deepening  #1 online financial services destination, #1 rated mobile app  The cost to serve fully digital customers is substantially lower  #2 Branch and #1 ATM network  Branch network heavily concentrated in the most attractive U.S. markets  Chase Private Client access to J.P. Morgan Private Bank investments platform  Business Banking access to Commercial Bank specialty lending and Treasury Services cash management  #1 in total U.S. credit, debit, prepaid combined payments volume, #1 global Visa issuer  #2 wholly-owned merchant acquirer Sources: American Customer Satisfaction Index; compete.com; Keynote Systems; Inside Mortgage Finance; Autocount Market Report; Small Business Administration; Nilson report; SNL Financial 1 Among large banks 2 Based on number of loans issued, per SBA data  Mortgage: #2 in originations, #3 in servicing  Auto: #3 Bank originator, #1 in super prime (FICO >740) originations  Business Banking: #1 Small Business Administration lender2  Delivered returns at target levels, despite a challenging environment  Three major growth opportunities – Chase Private Client, Business Banking, and New Branch Builds Powerful customer franchise Firm wide capabilities to meet customer needs Attractive footprint Leading position in Digital Banking World - class payments franchise National, scale lending businesses Strong financial returns 72

C O M M E R C I A L B A N K I N G Doug Petno, Chief Executive Officer Commercial Banking February 26, 2013

Commercial Banking Investment highlights Strong returns and growth opportunities  ~ 23,000 corporate, state, municipal, financial institution and non-profit clients, and ~ 36,000 real estate clients, owners and investors  Bankers, underwriters and service teams in 125 locations across 29 states, D.C. and 13 major international cities delivering global capabilities locally  Full service client-driven model delivers unique solutions and global connectivity to our clients Excellent client-facing franchises  Consistent, repeated strong financial performance  Steady growth – 10% revenue and 17% net income CAGR since 2006  Strong returns – ROE of 20% +/- through-the-cycle  Risk discipline – NCOs below 50bps through-the-cycle  Steadily investing in the business with long term view  Tremendous opportunity in high potential markets Competitive advantages  Carefully selected clients  Local knowledge and delivery, global reach  Broad range of solutions  Supported by the entire JPMorgan Chase platform  Seasoned and focused team Industry leading capabilities and track record 1 C O M M E R C I A L B A N K I N G

Agenda Page 2 Franchise strength 2 Business performance 5 Growth opportunities 13 C O M M E R C I A L B A N K I N G

Our client franchise Commercial Real Estate ~36,000 real estate clients, owners & investors 28% of CB revenue; 43% of CB loans Commercial & Industrial ~23,000 clients; ~36,000 prospects 72% of CB revenue; 57% of CB loans Uses Chase brand Uses J.P. Morgan brand Note: Client count and financial data as of year-end 2012 1 Thomson Reuters FY2012 2 FDIC 2008-YTD 3Q12 Middle Market Banking Corporate Client Banking  Long standing client relationships, including ~6,000 government, non-profit, healthcare and educational institutions  Local delivery approach, with close ties to communities served nationwide  Recognized with 2012 Greenwich Awards for excellence in TS product capabilities and customer service, international service, and online services  #1 large middle market syndicated lender1  ~1,300 larger corporate clients served nationally through geographic and industry- focused banking teams  Nearly doubled loan portfolio since 2010  More than doubled gross investment banking revenue since 2006 Commercial Term Lending Community Development Banking Real Estate Banking  Full service banking platform focused on top- tier real estate companies  National focus  Provided nearly $900mm in new loans in 2012, supporting ~9,500 affordable housing units in the U.S.  Major New Markets Tax Credits investor in underserved communities  #1 U.S. multifamily lender since 20082  Serving 15 major markets nationwide  Consistently delivering straightforward financing solutions – cheaper and faster than the competition Bankers, underwriters and service teams in 125 locations across 29 states, D.C. and 13 major international cities delivering global capabilities locally Commercial Banking 3 F R A N C H I S E S T R E N G T H

Commercial Banking touches every part of JPMorgan Chase Corporate Asset Management Private Bank Investment Management Corporate & Investment Bank Consumer Banking Business Banking Card Services Investment Bank Treasury Services One Equity Partners Consumer & Community Banking Global Corporate Bank Chase Commercial Banking 1 Annualized based on September – November 2012 transaction data 2 Calculated based on gross domestic IB revenue for SLF, M&A, Equity Underwriting and Bond Underwriting Branch footprint is foundation for Middle Market clients; nearly 12mm transactions annually1 Key referral source for private equity investments by One Equity Partners Referrals from Business Banking to CB ~55% of total CB clients use branches to transact business Referral source for Chase at Work employee banking CB clients accounting for 47% of total Global Commercial Card clients, driving nearly $17B in Card spend in 2012 Leveraging cash management and trade finance platform in CB international expansion Over 80% of CB clients use Treasury Services products Joint coverage of foreign multinational clients Joint coverage of ~2,400 CB clients and prospects $1.6B gross revenue in 2012 In 2012 CB clients accounted for:2 31% of NA total IB fees 32% of NA M&A fees 34% of NA Equity UW fees $2.4B in Treasury Services revenue in 2012 Robust referral source for Private Banking and Investment Management $415mm in Investment Management revenue from CB clients Over $110B in AUM from CB clients Leveraging CIB’s presence in 59 countries Over $180mm in Global Commercial Card revenue in 2012 $200mm in Paymentech revenue in 2012 4 F R A N C H I S E S T R E N G T H

Agenda Page 5 Business performance 5 Franchise strength 2 Growth opportunities 13 C O M M E R C I A L B A N K I N G

2012: another record year We continue to focus on executing our strategy 1 Denotes Middle Market Banking presence 2 Includes internal transfers, including transfer of Treasury Services Sales team from CIB into CB in 3Q12 3 Based on total number of revenue producing employees 4 Based on actively pursued client relationships; excludes CTL 5 Reflects average number of products per client as of 2007 6 CB revenue excludes CTL for this purpose 7 Represents the total revenue related to investment banking products sold to CB clients 8 2006 NPLs based on period-average loan balances; 2012 NPLs based on end-of-period loan balances 9 2006 loan balances are period-average; 2012 loan balances are end-of-period 10 Client deposits are period-average Total loan balances9 ($B) Total client deposits10 ($B) Nonperforming loans8 Overhead ratio Revenue ($B) Pre-provision pretax income ($B) Net income ($B) ROE $53.6 73.6 0.23% 52% 3.8 1.8 1.0 18% 128.2 16% 195.9 18 0.52% 35% 6.8 10 4.4 16 2.6 17 28% Maintained risk and expense discipline Delivered record results Record Number of international clients (U.S. parents) 890 2,482 19% Number of top-50 MSAs covered1 27 42 Number of international cities with CB presence 6 13 Expanded our market presence Total headcount2 Revenue/banker3 ($mm) 4,459 $3.5 6,120 5% $5.5 8 Invested in people Investment banking revenue, gross7 ($B) Non-interest revenue / total revenue6 $0.7 28% $1.6 14% 40% Average number of products per client4 7.05 9.1 Served our customers Non-interest expense ($B) $2.0 $2.4 3% Net charge-offs 0.05% 0.03% 2006 2012 2006-2012 CAGR 6 B U S I N E S S P E R F O R M A N C E

Historical performance ($B) Proven business model CB has delivered strong financial results and consistent growth Overhead ratio Revenue/banker ($mm) ROE 36% 38% 52% 48% 41% 35% 35% $5.3 $6.1 $3.5 $4.0 $4.2 $5.4 $5.5 Total revenue Noninterest expense Net income $3.8 $4.1 $4.8 $5.7 $6.0 $6.4 $6.8 $2.0 $2.0 $1.9 $2.2 $2.2 $2.3 $2.4 $1.0 $1.1 $1.4 $1.3 $2.1 $2.4 $2.6 2006 2007 2008 2009 2010 2011 2012 17% 20% 16% 26% 30% 28% 18%  Deep customer relationships and broad product base provide resilient revenue  Consistent organic growth in a volatile market environment  M&A not a key growth driver  Invest for long-term results  Increase banker productivity  Focus on asset and customer quality versus near-term growth  Continuous expense discipline  Excellent returns despite low deposit spreads and low utilization  Strong margins, even with substantial investments  Value of investments not fully realized Exceptional returns Long-term orientation Steady performance CTL acquired with WaMu 1 Source: U.S. Bureau of Economic Analysis, as of February 20, 2013 1.9% (0.3)% (3.1)% 2.4% 1.8% 2.2% 2.7% Real GDP growth1 10% Total revenue CAGR 17% Net income CAGR Noninterest expense CAGR 3% 7 B U S I N E S S P E R F O R M A N C E

49% 49% 20% 21% 18% 17% 6% 6% 7% 6% 2011 2012 Diversified revenues Growth across all business segments and products Revenue by segment ($B) CCB MM CTL REB Other1 Revenue by product ($B) 54% 54% 35% 36% 8% 8% 3% 3% 2011 2012 Treasury Services Lending Investment Banking2 Other3  Middle Market Banking Double digit growth in both loans and deposits; ~950 new clients added; expansion markets contributing 49% of revenue growth  Corporate Client Banking 15% increase in revenue; record performance across all products  Commercial Term Lending Record originations – 73% increase in 2012; improvement in credit quality  Real Estate Banking Record originations – 19% increase in 2012; double digit deposit growth  Asset-Based Lending & Chase Equipment Finance 25% and 18% increase in loans respectively  Treasury Services 7% revenue growth driven by liquidity products  Investment Banking Record gross revenue of $1.6B  International Double digit growth in revenue, deposits and loans4 $6.4 $6.8 $6.4 $6.8 Revenue mix ($B) 66% 67% 34% 33% 2011 2012 NIR NII $6.4 $6.8 2012 key highlights 1 Other primarily includes lending and investment activities within the Community Development Banking and Chase Capital businesses 2 Includes revenue recognized by CB from a range of investment banking products provided to CB clients 3 Other product revenue includes tax-equivalent adjustments generated from Community Development Banking activity and certain income derived from principal transactions 4 Denotes U.S. multinational clients with overseas revenue 8 B U S I N E S S P E R F O R M A N C E

4.2% 4.6% 3.2% 4.8% 2.9% 3.3% 2.6% 3.8% $44.4 $50.7 $16.7 $21.6 $38.6 $43.5 $8.2 $8.6 $4.0 $3.9 $112.0 $128.2 Strong loan growth across all businesses Record loans in Middle Market, Corporate Client Banking and Commercial Term Lending EOP loan balances ($B) Middle Market Banking Corporate Client Banking Commercial Term Lending Real Estate Banking Other 2011 2012 Note: Numbers may not sum due to rounding 2012 C&I loan growth (QoQ) 2012 CRE loan growth (QoQ)  CTL loans increased 13% in 2012; record originations in REB  Real estate fundamentals continue to improve; remain strong in core markets  Spreads holding steady; competition is increasing  Broad based demand for credit across a range of industries  Taking substantial share as the lead bank among larger corporate clients  11 consecutive quarters of loan growth in Middle Market  Expansion markets continue to show solid growth momentum  Competition on new deals has intensified  Pressure on spreads but saw signs of stabilization in 4Q12 2.5% 3.3% 2.1% 2.1% 0.5% (0.3%) (0.3%) 0.8% 1Q 2Q 3Q 4Q Commercial Banking C&I industry1 1 Source: FRB H.8 Assets and Liabilities of Commercial Banks in the United States for February 6, 2012 (not seasonally adjusted) 14% 29% 4% 13% (3%) 14% Growth Utilization 31.4% 32.0% 1Q12 2Q12 3Q12 4Q12 1Q12 2Q12 3 12 4 12 Commercial Banking CRE industry1 9 B U S I N E S S P E R F O R M A N C E

High quality and granular portfolio Risk discipline and asset quality remain our key focus  Select good companies in attractive industries with proven management teams and broad product needs  Bank clients that share our risk philosophy  Long term relationship approach – building a lasting franchise  Long-term client relationships Client selection  Discipline over growth philosophy – we don’t need to do every deal  Maintain granularity  Sound structures  Manage cyclical risks  Track new originations Risk discipline  Strong risk culture – joint client ownership between banking and risk teams  Seasoned team – over 20 years average experience  Local decision making – our teams really know our clients Risk culture Commercial & Industrial Total C&I loans: $73.6B Healthcare 14% Retail 9% State & muni governments 9% Oil & gas 7% Other (20 industries) 29% Consumer products 9% Machinery 7% Business services 5% Utilities 4% Metals & mining 4% Building & Materials 4% Total CRE loans: $54.6B Hospitality 1% Multifamily 73% Office 9% Retail 9% Industrial 6% Other 3% Commercial Real Estate 10 B U S I N E S S P E R F O R M A N C E

Note: Numbers may not sum due to rounding 1 2006 Commercial Banking NPL ratios are based on average loans; 2007-2012 Commercial Banking NPL ratios are based on end-of-period loans 2 Peer averages include CB-equivalent segments or wholesale portfolios at BAC, CMA, FITB, KEY, PNC, USB, WFC 3 2006-2007 CRE NPLs and NCOs reflect Real Estate Banking only; 2008-2012 CRE NPLs and NCOs also include Community Development Banking; 2009-2012 NPLs and NCOs also include Commercial Term Lending 2012 peer group NCOs 0.05% 0.07% 0.35% 1.02% 0.94% 0.18% 0.03% 0.16% 0.28% 1.35% 2.23% 2.00% 0.75% 0.33% 2006 2007 2008 2009 2010 2011 2012 Net charge-offs Commercial Banking Peer average² Nonperforming loans¹ C&I NCOs CRE NCOs3 0.05% 0.05% 0.17% 0.71% 0.61% 0.09% 0.06% 0.23% 1.62% 1.36% 1.26% 0.28% 0.00% 0.07% 0.23% 0.22% 0.89% 2.87% 2.02% 0.94% 0.52% 0.41% 0.89% 2.07% 4.21% 3.08% 2.02% 1.10% 2006 2007 2008 2009 2010 2011 2012 0.26% 0.16% 0.62% 1.01% 0.75% 0.36% C&I NPLs 0.03% 0.70% 2.75% 4.67% 3.37% 1.67% CRE NPLs3 0.28% 0.86% Commercial Banking Peer average² 2012 peer group NPLs 0 .5 2 % 0 .6 6 % 0 .7 9 % 0 .9 3 % 1 .0 1 % 1 .2 6 % 1 .4 1 % 1 .6 1 % C h a s e P e e r A P e e r B P e e r C P e e r D P e e r E P e e r F P e e r G We are maintaining our discipline on new originations 0 .0 3 % 0 .1 6 % 0 .2 1 % 0 .2 8 % 0 .3 2 % 0 .3 4 % 0 .3 5 % 0 .6 4 % C h a s e P e e r E P e e r C P e e r A P e e r D P e e r B P e e r G P e e r F Best-in-class credit performance 11 B U S I N E S S P E R F O R M A N C E

$73.6 $87.7 $103.1 $113.2 $138.9 $174.7 Stable and diversified deposit base Note: Numbers may not sum due to rounding 1 Includes Community Development Banking and Commercial Term Lending Average deposits ($B) Middle Market Banking 76% Corporate Client Banking 15% Real Estate & other1 9% $195.9 Sweeps/ other 21% Savings 28% DDA 52% 2006 2007 2008 2009 2010 2011 2012 by business 2012 by type  Over 17,300 deposit holding clients  Geographically diverse deposit base using extensive branch network and client franchise  Cross sell opportunity over time – average tenure of deposit holding clients is 17 years  Shift to higher-value deposits – 52% DDA in 2012 versus 33% DDA in 2006  Deposits will have material value when interest rates rise  Mitigated NIM compression through disciplined deposit and earnings credit pricing  Minimal impact from expiration of Transaction Account Guarantee coverage on non- interest bearing deposits  Expect clients to redeploy cash or seek other investments when interest rates rise Excellent deposit gathering capabilities Meaningful earnings source Outlook 12 B U S I N E S S P E R F O R M A N C E

Agenda Page 13 Growth opportunities 13 Franchise strength 2 Business performance 5 C O M M E R C I A L B A N K I N G

Core Commercial & Industrial businesses We continue to grow in our legacy markets and through our core products Long-term, multi-solution relationships are core to our success 1 Revenue numbers rounded to nearest $10K; revenue represents full JPM relationship totals and does not incorporate any revenue sharing agreements; excludes CTL clients 2 Uses credit only; no other product category revenue 3 No credit relationship; uses one or more products of AM, IB, TS or Card 4 Uses credit and one or more of AM, IB, TS or Card 5 Based on actively pursued client relationships; excludes CTL Illustrative revenue per relationship1 ($’000) $90 $110 $640 $340 Credit-only relationship Non-credit relationship Full relationship Average 2012 Average products per relationship5 1.8 11.6 9.1 7.0 1  17,000+ targeted prospects in legacy, non-expansion markets  ~700 new Middle Market clients in non-expansion markets in 2012  Substantial revenue growth potential in legacy markets  Weak or distracted competition presents opportunities Expand our client base 2 Deepen relationships  Up-tiering relationships through disciplined account targeting  Increase client penetration of core products  Grow asset-based lending and equipment finance portfolio  Deliver expanded treasury capabilities  Increase Commercial Card and Merchant Services penetration of CB client base 2 3 4 14 G R O W T H O P P O R T U N I T I E S

Middle Market expansion – $1B long-term revenue opportunity Extending a proven business model and building a long-term franchise 2010 2011 2012 Long-term target $52 $136 Total expansion revenue ($mm) $230 821 1,102 1,357 2010 2011 2012 Total expansion clients Highlights  Creating scale in 22 new top-50 MSAs and expanding into new high- potential markets  Disciplined organic growth; only targeting best clients in the market  JPMC’s full capabilities and brand differentiate versus competitors  Export Chase business model and culture; add to team by hiring the best bankers in each market  272 dedicated CB resources; continuing to add bankers, underwriting and service professionals $1,000 Key expansion markets Incremental prospects: ~18,000 or equivalent to ~85% of total existing MM clients Rank by size Years of in-market presence MSA Los Angeles 2nd 4 Philadelphia 5th 2 Washington D.C. 7th 2 Miami 8th 3 Atlanta 9th 5 Boston 10th 6 San Francisco 11th 4 Seattle/Tacoma 15th 4 Minneapolis 16th 9 San Diego 17th 2 St. Louis 18th 9 Tampa 19th 3 Pittsburgh 22nd 1 Portland 23th 4 Sacramento 24th New Orlando 26th 3 Kansas City 29th 1 Charlotte 33rd 2 Nashville 38th 3 Jacksonville 40th New Richmond 43rd 2 Birmingham 49th 1 In-footprint Out-of-footprint 1 1 Reflects number of years of Middle Market banker presence in each MSA 15 G R O W T H O P P O R T U N I T I E S

Investment banking – $2B long-term revenue opportunity On track to deliver our growth target CB investment banking revenue (gross)1 1 Represents the total revenue related to investment banking products sold to CB clients 2 Calculated based on gross domestic IB revenue for SLF, M&A, Equity Underwriting, Bond Underwriting 3 Source: Dealogic  Strong partnership with leading investment bank  ~2,400 CB clients and prospects jointly covered with IB bankers  Middle Market clients  Increasing penetration nationally 55% 65% 71% 69% 73% 45% 35% 29% 31% 27% 2008 2009 2010 2011 2012 Long-term target 16% 20% 25% 25% CB gross IB deal fees as % of J.P. Morgan North America IB deal fees2 31% $1.0 $1.2 $1.3 $1.4 $1.6 Gross IB deal fees Gross Markets/other fees 13% Total gross IB revenue CAGR 22% Gross IB deal fees CAGR $2.0 9% Total NA Dealogic IB deal fees CAGR3 Opportunity Strategy 2012 highlights  Syndicated & Leveraged Finance  Continuing to strategically expand lead bookrunner roles  M&A / Corporate Finance Advisory  Continuing build-out of dedicated, regionally-focused IB teams  Record gross IB revenue up 12% YoY despite market headwinds  IB deal fees are primary growth driver  Record number of clients generating fees over $5mm  More clients using multiple IB products 16 G R O W T H O P P O R T U N I T I E S

International – $500 million long-term revenue opportunity Delivering international banking solutions locally and differentiating from the competition  Our global solutions delivered locally is a key differentiator  J.P. Morgan platform in 59 countries and growing  Leveraging CIB’s capabilities and global scope  Dedicated local coverage of CB clients in major foreign markets for lending, cash management, FX and trade finance  58% of Chase Middle Market clients are active in global markets, up from 43% in 20111  26% have operations in foreign countries today1  Clients are expecting overseas revenue and activity to increase in 5 years1  Double digit growth in international revenue, loans and deposits between 2010 and 2012  Adding bankers and expanding CB client coverage in major foreign markets  Investing in dedicated CB client support infrastructure globally We are best positioned Continue to make progress Small and mid-sized businesses are expanding overseas $137 $192 $238 $500 2010 2011 2012 5-year target CB overseas revenue growth ($mm) 1 Chase Middle Market Business Leaders Outlook survey, March 2012 2 Denotes U.S. multinational clients with overseas revenue; periods prior to 2012 have been restated to conform with current presentation 3 Source: KPMG survey Global Rewards Within Reach, September 2012; conducted among 1,150 U.S. companies with annual sales generally between $200 million and $1 billion that have sold a product or service in a foreign market in the previous year 1,752 2,122 2,482 Number of international clients2 Mid-sized companies aiming high in global expansion 78% 75% 61% 49% Expects to increase revenue from foreign operations/customers over the next 5 years Considers global expansion as integral to growth strategy Plans to expand global presence in next 5 years Has physical presence in 6 or more countries Select responses of mid-sized U.S. companies from KPMG 2012 global expansion survey3 17 G R O W T H O P P O R T U N I T I E S

$9.1 $0.5 $2.0 $8.1 $14.1 Commercial Term Lending A sizable and profitable business with record originations in 2012 CTL originations have returned to pre-downturn levels ($B) 1 FDIC 2008–YTD 3Q12 2 Average loan size based on 2012 originations 3 Reflects weighted average LTV and DSC of originations held for investment 4 2008 overhead and net charge-off ratios reflect 4Q only CTL acquired by Chase from WaMu Exited non-core markets Remediated problem assets Acquired and integrated a $3.5B multifamily portfolio Revived originations Invested in platform expansion Record originations, up 73% YoY Credit metrics close to pre-crisis levels  #1 U.S. multifamily lender since 20081  Proven business model  Strong profitability  Profitable through-the-cycle  Improved underwriting process  Expanded in key markets  Invested in platform and people  Improved client response times  Multifamily fundamentals remain favorable  Core target markets; stabilized properties  Average new loan size of $1.8mm2  Strong underwriting standards for new originations We acquired a valuable franchise Invested in the business since acquisition Focus on an attractive asset class 2008 2009 2010 2011 2012 Originations $36.9 Portfolio size $36.2 $37.9 $38.6 $43.5 55% Weighted avg. LTV3 51% 60% 62% 63% 17% Overhead ratio4 21% 20% 18% 17% 1.46x Weighted avg. DSC3 1.80x 1.52x 1.51x 1.57x 0.04% Net charge-offs4 0.91% 0.99% 0.27% 0.10% 18 G R O W T H O P P O R T U N I T I E S

Real Estate Banking Strategy remains unchanged – Asset quality over absolute scale Targeted, market sensitive growth  Relationships with over 500 high- quality developers and investors  Well-diversified portfolios  Broad product needs  Long-term relationships  Dedicated TS and IB coverage teams  Maintain underwriting standards  Continuously monitor market fundamentals  Low leverage and strong debt service coverage levels  Well-diversified across core markets  Limited construction risk Total commitments: $14.5B Industrial 10% Multifamily 29% Office 25% Retail 21% 2012 commitments by industry Other 15% Average client deposits ($B) $11.5 $12.2 $14.0 2010 2011 2012 Commitments and originations ($B) $12.4 $0.9 $5.7 $6.7 8% 15% 26% $9.7 2010 2011 2012 Total commitments Originations $14.5 % construction commitments Top tier client base Strong risk discipline and portfolio quality  Strong overall market fundamentals  Debt markets are open and active  ~$1.7T in CRE debt maturities expected for 2013–20171  Capacity to grow CB portfolio Attractive opportunity 1 Source: Trepp LLC, 4Q11 19 G R O W T H O P P O R T U N I T I E S

Outlook Our financial targets remain the same Overhead & credit costs Overhead ratio Through-the-cycle net charge-offs 35% 35% Long term target 2012 result 2010-2012 CAGR Making progress towards long-term revenue goals Middle Market expansion Investment Banking1 International Key revenue growth initiatives $1.0B $2.0B $500mm $230mm $1.6B $238mm 110% 9% 32% Allocated capital increasing by 42% to $13.5B Returns Return on equity 20% +/- 28% 0.50% 0.03% Maintaining expense and risk discipline 20% 2012 pro forma2 1 Reflects gross investment banking revenue 2 Illustrative ROE calculated based on $13.5B in common equity; CB common equity increased from $9.5B to $13.5B on 1/1/2013 20 G R O W T H O P P O R T U N I T I E S

Common equity and returns We should continue to generate solid returns, even with higher capital Our overall returns are substantially enhanced by:  Cost structure  Credit cost performance  Valuable deposit base  Breadth of non-lending capabilities  Cross-LOB revenue and expense synergy  Our brand  Our scale and branch presence  The quality of our bankers and industry insight  Our fortress balance sheet  New relationships will continue to grow in profitability  Market penetration with key non-lending services will increase returns over time  Business confidence strengthens  Deposit spreads improve  Utilization increases with client activity Competitive advantage Value differentiators Future return on investments Market-driven upside, if 18% 17% 20% 16% 26% 30% 28% 20% +/- 2006 2007 2008 2009 2010 2011 2012 Through-the- cycle target $5.7 Common equity ($B) $7.3 $8.0 $8.0 $13.5 ROE $6.5 $8.0 $9.5 21 G R O W T H O P P O R T U N I T I E S 1 1 Reflects attributed common equity effective 1/1/13

Strong returns and growth opportunities  ~ 23,000 corporate, state, municipal, financial institution and non-profit clients, and ~ 36,000 real estate clients, owners and investors  Bankers, underwriters and service teams in 125 locations across 29 states, D.C. and 13 major international cities delivering global capabilities locally  Full service client-driven model delivers unique solutions and global connectivity to our clients Excellent client-facing franchises  Consistent, repeated strong financial performance  Steady growth – 10% revenue and 17% net income CAGR since 2006  Strong returns – ROE of 20% +/- through-the-cycle  Risk discipline – NCOs below 50bps through-the-cycle  Steadily investing in the business with long term view  Tremendous opportunity in high potential markets Competitive advantages  Carefully selected clients  Local knowledge and delivery, global reach  Broad range of solutions  Supported by the entire JPMorgan Chase platform  Seasoned and focused team Industry leading capabilities and track record Commercial Banking Wrap up 22 G R O W T H O P P O R T U N I T I E S

February 26, 2013 A S S E T M A N A G E M E N T Mary Erdoes, Chief Executive Officer Asset Management

A S S E T M A N A G E M E N T J.P. Morgan Asset Management – A world-class global client franchise Tenured top talent  Consistent, predictable high growth business for the firm – revenues, earnings, ROE  Long-term, robust client-centric model  Diversified earnings from broad set of products, channels, and regions Growth business within JPMC Difficult to replicate  Over 95% retention of top talent  >80 PMs with top quartile 10-year mutual fund performance  Fiduciary culture ingrained in each and every hire  Managing clients’ assets since 1832  Celebrating 100-year relationships in the Private Bank  Invaluable benefit of being part of JPMorgan Chase World’s best clients  J.P. Morgan Private Bank unmatched in serving the world’s wealthiest  Over 55% of top sovereign wealth funds, pension funds, and central banks  ~3,000 financial intermediaries, ~60% outside the U.S. 1

A S S E T M A N A G E M E N T 2006 2012 2006-12 growth  Mutual funds AUM in 1st/2nd quartiles (% over 5 years) 79% 76%  4/5 star mutual funds (#) 136 218 60%  Assets under management ($T) $1.0 $1.4 41%  U.S. Private Bank client advisors (#) 1,169 1,597 37%  International Private Bank client advisors (#) 337 774 130%  JPMS financial advisors (#) 324 450 39%  Salespeople (#) 659 858 30%  Investment professionals (#) 1,159 1,307 13%  Investment strategies (#) 254 378 49%  Client assets ($T) $1.3 $2.1 56%  Long-term client asset flows ($B) 58 103 78%  Deposits ($B) $52 $145 180%  Loans ($B) $25 $69 183%  Mortgages ($B) $5 $18 240%  Revenue ($B) $6.8 $9.9 47%  Net income ($B) $1.4 $1.7 21%  Pretax margin 33% 28%  ROE 40% 24% 2012 performance highlights – Another record year Performance highlights GWM GIM Franchise expansion Top investment performance Record growth Investing for growth Record 2

A S S E T M A N A G E M E N T Global Investment Manageme nt Global Wealth Management Global Investment Management Global Wealth Management Asset Management Solutions & Alternatives Global Investment Management Global Wealth Management 15 consecutive quarters of positive long-term flows 14 consecutive quarters of positive flows 10 consecutive years of positive client asset flows  Global Funds  Global Institutional  Equities, Fixed Income, Cash  Focus on consistent, long-term investment performance  Center of innovation to serve evolving client needs  Multi-asset, outcome-oriented solutions  Alternatives and absolute return continuum  U.S. Private Banking  International Private Banking  J.P. Morgan Securities  Full range of investment and banking services Insurance Sovereigns Pension Funds Inter- mediaries Endowments & Foundations UHNW HNW Affluent Family Offices An integrated model with unique advantages AM Solutions & Alternatives Client assets $2T Revenue $10B Pretax income $3B 3

A S S E T M A N A G E M E N T Chase Wealth Management AM expertise accessible to CWM clients  Focused on the $5T investment opportunity with Chase clients  ~3,000 financial advisors covering 5,600 Chase branches  #3 UMA manager Positive net flows every quarter since CPC launch in 2Q11 Global Investment Management AM Solutions & Alternatives Global Wealth Management  Global Funds  Global Institutional  Equities, Fixed Income, Cash  Focus on consistent, long-term investment performance  Center of innovation to serve evolving client needs  Multi-asset, outcome-oriented solutions  Alternatives and absolute return continuum  U.S. Private Banking  International Private Banking  J.P. Morgan Securities  Full range of investment and banking services 15 consecutive quarters of positive long-term flows 14 consecutive quarters of positive flows 10 consecutive years of positive client asset flows Chase Wealth Management Global Wealth Management Global Investment Management Asset Management Solutions & Alternatives 4

A S S E T M A N A G E M E N T 84 87 84 81 92 87 88 84 2009 2010 2011 2012 52 68 77 74 72 78 73 74 2009 2010 2011 2012 Equity – % of MF AUM in top 2 quartiles Fixed Income – % of MF AUM in top 2 quartiles Note: All returns are annualized. Select regional funds’ excess returns are as of 01/31/13 Consistent world-class investment performance in Equity and Fixed Income… Select regional Equity funds excess return (bps) Select regional Fixed Income funds excess return (bps) 1-year 3-year Fund U.S. Value Advantage Europe Equity Plus ASEAN Equity Emerging Markets Opportunity 106 776 418 419 24 983 768 605 1-year 3-year Fund U.S. Core Plus Bond Global Bond MBS Emerging Markets Debt 186 208 208 81 277 158 780 176 238 3-yr 5-yr 3-yr 5-yr 5

A S S E T M A N A G E M E N T Solutions – % of MF AUM in top 2 quartiles Alternatives / Abs. return – % of AUM above benchmark …as well as in Solutions and Alternatives Select regional Solutions funds excess returns (bps) Select Alts / Abs. return strategies1 excess return (bps) 1-year 3-year Fund SmartRetirement 2035 Diversified Income Builder Asia Pacific Income 42 235 191 75 186 299 470 652 1-year 3-year Strategy Multi-Strategy Global Macro U.S. Real Estate2 Private Equity3 140 280 550 190 290 620 190 (190) 60 69 57 57 61 80 84 80 2009 2010 2011 2012 56 68 78 77 67 78 80 80 2009 2010 2011 2012 3-yr 5-yr 3-yr 5-yr Note: All returns are annualized. Select regional funds’ excess returns are as of 01/31/13 (unless otherwise noted) 1 Alternatives / Absolute return strategies’ excess returns rounded to nearest 10bps 2 Gross return vs. NPI benchmark, as of 12/31/12 3 Net return vs. Cambridge PE & VC benchmark, as of 09/30/12 6

A S S E T M A N A G E M E N T -2 -1 1 2 3 4 5 6 7 - 100 200 300 10 JPM funds compared to largest funds in category Top-performing funds with significant capacity to grow Source: Strategic Insight, Morningstar Direct AUM as of 12/31/12. Net flows reflect average yearly flows over 3 yr period as of 12/31/12. Excess returns as of 12/31/12, Select Shares Incremental impact from fund growth Revenue AUM ~$75B Pretax income JPM AUM Largest fund 3-Yr excess return (bps) 3 -Yr a v e ra g e n e t fl o w ( $ B ) +$450mm +$900mm +$175B If each fund reached Top 3 position by size ~$520mm ~$210mm 10 JPM funds as of today 7

A S S E T M A N A G E M E N T Client advisor growth and enhanced productivity drive success in U.S. Funds Gross sales per external CA ($mm) External client advisors (#) 60 103 2006 2012 158 502 2006 2012 U.S. Funds retail distribution active long-term gross sales / net flows ($B) 9 13 15 30 38 46 52 0 2 0 18 18 16 20 2006 2007 2008 2009 2010 2011 2012 Retail gross sales Retail net flows U.S. Funds active long-term mutual fund AUM ($B) 70 71 51 89 119 137 175 2006 2007 2008 2009 2010 2011 2012 AUM rank1 19 20 16 13 12 8 7 Flows rank1 18 591 583 3 2 2 2 1 Based on Strategic Insights data 8

A S S E T M A N A G E M E N T A premier global private banking franchise Consistent revenue growth ($B) 2.0 2.4 2.6 2.7 2.9 3.7 4.2 4.3 4.9 5.1 5.4 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Revenue per CA ($mm, excl. JPMS) 2.0 2.1 2006 2012 Global net new clients (excl. JPMS) 2006 2012 International U.S. 2,221 3,474 Client advisors (#, excl. JPMS) [Insert object title] 2006 2012 International U.S. 1,506 2,371 G obal client advisors (excl. JPMS) 5% 9

A S S E T M A N A G E M E N T 25 34 36 38 44 56 69 5 7 7 8 11 15 18 Loans (ex-mortgages) Mortgages Consistent growth across investment products, deposits, and loans GWM Loans ($B) – 94% with secured collateral (0.09) (0.03) 0.03 0.33 0.20 0.18 0.10 0.00 0.00 0.00 0.07 0.14 0.17 0.08 2006 2007 2008 2009 2010 2011 2012 Loans (ex-mortgages) Mortgages GWM net charge-off rate (%) GWM Deposits ($B) 2008 2009 2010 2012 2011 2007 2006 TBD 52 68 84 80 92 127 145 2006 2007 2008 2009 2010 2011 2012 GWM Client assets ($B) 465 544 553 636 730 781 877 2006 2007 2008 2009 2010 2011 2012 10

A S S E T M A N A G E M E N T A global leader in Alternatives, Absolute return, and Solutions Diversified Alternatives / Absolute return platform Innovative Alternatives and outcome-oriented Solutions offerings 301 354 386 447 2009 2010 2011 2012 JPM AM Alternatives, Absolute return, and Solutions AUM ($B)  SmartRetirement grew 7x from ‘08, +$18B  Thematic Advisory Program launched ‘10, +$12B  Absolute Return Fixed Income launched Nov ‘12, +$1.5B 210 177 170 142 134 133 113 110 100 76 Blackstone JPM AM Carlyle Bridgewater CS GSAM² Apollo Blackrock DB AWM³ KKR Currency/Commodities Real Estate/Real Assets Hedge FoF Hedge Funds (incl. credit) Private Equity Fee-earning client assets¹ mix 2012 ($B) 168 163 123 82 61 Non fee-earning assets¹ Source: Company filings, J.P. Morgan estimates ¹ Fee-earning client assets exclude assets which do not earn fees, such as firm capital invested in its own funds, uncalled capital commitments, and asset appreciation based on changes in the fair value of underlying investments. Non fee-earning assets include these items ² GSAM breakdown based on FT Towers Watson Global Alternatives Survey 2012 (July 2012) ³ Deutsche Bank AWM figures based on J.P. Morgan estimates 11

A S S E T M A N A G E M E N T Partnership with CWM further adds to growth trajectory Highlights Assets managed for CWM clients ($B) 21 31 45 52 68 2008 2009 2010 2011 2012 CWM net new investment flows ($B) 3 6 11 2010 2011 2012  AM and CWM to cover U.S. wealth continuum  CWM focuses on investment opportunity in the branches  One single affluent business – integrating ~77,000 U.S. PB affluent clients ($38B of assets) with CWM  Client referrals seamless between CWM and AM  Clients benefit from best-in-class investment and operating platform  U.S. PB platform and investment expertise available for CWM clients  Fastest growing CWM products are managed accounts that leverage expertise of AM Solutions  CWM important distribution channel for U.S. Funds  Accelerated growth expected going forward through CPC expansion 12

A S S E T M A N A G E M E N T Strong investment performance enables outsized flows (14) (10) (5) 5 12 16 20 21 30 32 36 45 100 118 UBS GS DB FII IVZ BX MS TROW BEN BLK CS BK JPM AM Allianz AB 3 5 5 3 5 5 5 5 7 4 1 1 (53) 2009-2012 avg annual client asset flows ex-liquidity ($B) 6 1 (2)% (1)% (1)% 4% 4% 4% 6% 7% 7% 8% 8% 10% 11% 15% GS UBS DB CS BLK IVZ MS BEN TROW BK FII JPM AM Allianz BX AB (14)% 2009-2012 compound annual client asset growth rate 1 3 1 3 5 5 4 7 5 5 5 1 6 5 Source: Company filings, J.P. Morgan estimates Note: 2009-2012 represents 4 years of flows. Allianz, CS, DB, and UBS non-USD flows converted at average annual exchange rates. BX flows based on fee-earning assets. 1 Total AUM flows 2 Long-term AUM, brokerage, custody, and deposit flows 3 Long-term AUM and brokerage flows 4 Total AUM and brokerage flows 5 Long-term AUM flows 6 Total AUM, brokerage, and deposit flows 7 Long-term AUM, brokerage, and deposit flows ~$20B in long-term AUM flows in 2012 from each of our three channels 2 2 LT AUM: 58 13

A S S E T M A N A G E M E N T Consistent long-term flows across channels, regions, and products 2009-2012 cumulative long-term flows by channel, region, and product ($B) Channel Region AUM Flows Equity Fixed Income Multi-Asset Alternatives AUS Flows GWM U.S. EMEA Asia LatAm Retail U.S. EMEA - Asia - LatAm - Institutional U.S. EMEA - Asia - LatAm - ███ < $(0.5)B ███ $(0.5)B – $0.5B ███ > $0.5B 14-A

A S S E T M A N A G E M E N T Consistent long-term flows across channels, regions, and products 2013 YTD cumulative long-term flows by channel, region, and product ($B) Channel Region AUM Flows Equity Fixed Income Multi-Asset Alternatives AUS Flows GWM U.S. EMEA Asia LatAm Retail U.S. EMEA - Asia - LatAm - Institutional U.S. EMEA - Asia - LatAm - 14-B ███ < $(0.5)B ███ $(0.5)B – $0.0B ███ > $0.0B

A S S E T M A N A G E M E N T Growing in every product and client channel since the crisis (except liquidity) 2008 2009 2010 2011 2012 4-Yr CAGR 1,549 2,190 Total client positions by product ($B) Credit 16% Brokerage 15% Custody 18% Deposits 15% Alternatives/ Abs. Return 8% Multi-Asset/ Solutions 16% Fixed Income 19% Equity 14% Liquidity (6)% 1,754 1,903 2,002 2008 2009 2010 2011 2012 1,549 2,190 Total client positions by channel ($B) JPMS 8% US HNW 8% Int’l PB 19% US UHNW 12% Retail 16% Institutional 12% Institutional Liquidity (5)% 1,754 1,903 2,002 G IM G W M 4-Yr CAGR 15

A S S E T M A N A G E M E N T 8.0 9.4 9.9 13.0 5.7 6.7 7.2 8.5 Total AM P&L ($B) 2012 In 3+ years 2009 Pretax margin w/ investments 29% 28% 35% Expansion investments in 2010–2012 will fuel future growth and increase margins Base  Hired ~800 client advisors and investors across GWM and GIM  Launched several new business initiatives in GIM (e.g., DCIS, Insurance)  Targeting incremental, annual net income impact of ~$600mm  Continued and accelerated revenue growth from new hires as they approach full productivity  Expense growth will decline as:  Tech/infrastructure investment growth rates come down  Expense discipline continues 8% p.a. 8% p.a. ~+30% ~+20% Commentary Expenses: Revenue: New investments Base New investments 16

A S S E T M A N A G E M E N T GIM delivered strong margins while continuously investing Source: Company filings, J.P. Morgan estimates Note: Figures shown on an as-reported basis. BX margin figures reflect pretax distributable earnings divided by total revenues 1 Revenue presented gross of fees and commission expenses to ensure comparability with peers 2 Has not yet reported segment margin for 2012; LTM through 3Q12 used instead 3 Wealth Management vs. Investment Management margin split unavailable 37% 37% 33% 33% 32% 29% 27% 25% 7% 4% 47% 37% 30% 29% 21% 21% TROW BLK BEN Allianz CS FII JPM GIM UBS STT BX MS BK GS IVZ AB DB Peer median: 29% 3-year total headcount growth (24)% (13)% (6)% (1)% 9% 12% 12% 19% 22% 22% 25% AB CS¹ DB¹ ² FII¹ UBS TROW BEN JPM GIM BLK BX¹ IVZ (w/ acq) Peer median: 11% 2 3 2 1 2 2012 pretax margin Source: Company filings, J.P. Morgan estimates Note: Figures as of year end shown on an as-reported basis. Not adjusted for acquisitions or divestitures 1 Growth rates represent different time periods due to changes in reporting format and/or pending 2012 disclosure: BX (2009–2011); CS (2009–3Q12); DB (2010–2012); and FII (2009–2011) 2 Wealth Management vs. Investment Management headcount split unavailable 3 17

A S S E T M A N A G E M E N T GWM delivered industry-leading margins with unmatched investment levels 29% 23% 21% 19% 18% 12% 30% 25% 21% 4% NTRS¹ JPM GWM UBS CS BAC GS¹ ² BAER³ WFC MS DB² Peer median: 21% 3-year client-facing headcount growth (8)% (8)% (4)% (2)% 1% 5% 9% 26% MS DB¹ ² CS UBS WFC BAC BAER JPM GWM Peer median: (2)% 2012 pretax margin Source: Company filings, J.P. Morgan estimates Note: Figures shown on an as-reported basis 1 Has not yet reported segment margin for 2012; LTM through 3Q12 used instead 2 Wealth Management vs. Investment Management margin split unavailable 3 Revenue presented gross of fees and commission expenses to ensure comparability with peers Source: Company filings, J.P. Morgan estimates Note: Figures as of year end shown on an as-reported basis. Not adjusted for acquisitions or divestitures 1 Wealth Management vs. Investment Management headcount split unavailable 2 DB figure reflects 2-year growth rate due to changes in reporting format Organic 21% 18

A S S E T M A N A G E M E N T High ROE relative to peers 5.6 7.0 6.5 6.5 7.0 Comparative asset management 2012 ROE1 36% 27% 24% 24% 23% 13% 10% 8% 6% 6% 5% FII CS TROW JPM AM BEN BAC BLK IVZ BAER MS AB Peer Median: 11% AM Return on Equity Observations  Stable ROE despite capital increases and re-investments  2012 ROE comparable or better than most peers  As of 1/13, JPM AM has $9B of allocated capital due to increased corporate allocations and expanding loan book 24% 20% 26% 25% 24% 2008 2009 2010 2011 2012 Average allocated capital ($B) 9.0 Source: Company filings, J.P. Morgan estimates 1 Based on reported capital (including goodwill and intangibles where disclosed) 2 Pretax income taxed at firmwide Core Results tax rate. Average utilized capital pro rated for pretax earnings of PBWM segment excluding Corporate and Institutional Clients 3 Uses end of period shareholders' equity as of 9/30/12; 12/31/12 equity not yet reported 3 2 1 2012 net income applied to 2013 allocated capital of $9.0B 25% + 19%1 LT target 19

A S S E T M A N A G E M E N T 0.2 0.5 1.0 1.4 2.1 2.2 2.7 3.0 2.8 3.5 3.5 3.5 4.0 1.8 3.0 5.2 5.7 7.3 9.3 9.7 9.9 12.2 12.2 15.7 16.0 16.5 (28) (2) 10 14 17 23 23 26 44 103 146 11.4 3.2 2012 revenue ($B) NA NA Combined Asset and Wealth Management space offers earnings growth potential 109 2012 pretax income ($B) 2012 client asset flows ex. liquidity ($B) Source: Company filings, J.P. Morgan estimates Note: Allianz, CS, DB, and UBS figures converted at average annual exchange rate 1 Excludes revenue, pretax income, and client asset flows attributable to Corporate and Institutional Client unit 2 Excludes Asset Management Group (AMG) which is reported in Wholesale Banking unit. AMG consists of $444B of AUM, of which $112B is accounted for in Wealth, Brokerage and Retirement unit (source: Wells Fargo Wholesale Banking Investor Relations presentation, May 2012) 3 Includes GIM and GWM with CWM reflecting dashed extension. Client asset flows dashed extension reflects CWM net new investments 4 Reflects LTM through 3Q12 as 2012 disclosure not yet available. Allianz revenue is presented gross of fees and commission expenses to ensure comparability with peers 5 Total AUM flows 6 Long-term AUM, brokerage, custody (where disclosed), and deposit flows 7 Long-term AUM flows 8 Long-term AUM and brokerage flows 9 Total AUM and brokerage flows 10 Total AUM, brokerage, and deposit flows 2 4 1 3 1 4 3 2 4 4 6 7 8 5 5 7 1 9 7 10 6 3 6 4 20

A S S E T M A N A G E M E N T ~$2B in cross-sell revenue across lines of business Covering Corporate clients including cash management and investments Collaboration on new product launches (e.g., Copper ETF) Fund management CWM is an important distribution channel for U.S. Funds Referrals for PE investments IB products sold to private bank clients (trading, IPO, structured product, brokerage) Fund accounting, Transfer Agency, Custody, and Securities Lending for GIM & GWM U.S. PB platform and investment expertise available for CWM clients Referral source between Chase Private Client and JPM Private Bank Card services provided to Private Bank clients Coverage of investments for business owners Corporate Commercial Banking $0.5B Commercial & Industrial Real Estate Consumer & Community Banking $0.6B Corporate & Investment Banking $1.0B Consumer Banking Business Banking Card Services Investment Banking Global Corporate Bank Treasury Services Private Equity CIO Asset-Liability Management Liquidity products offered to TSS clients Referrals in both directions Referrals in both directions Substantial cross-sell with the JPMorgan Chase franchise $2.1B 21

A S S E T M A N A G E M E N T Continued delivery of strong growth and high returns  Consistent growth with high margins and ROE  Strong, long-term investment performance  Fiduciary culture since 1832  Diversified by products, channels, and regions  World’s best clients  Invaluable benefit of being part of JPMC  High-growth areas:  First wave of front office hires fully productive  Increased flows into strong performing strategies  International turnaround and expansion  New business initiatives including Insurance, Solutions, Alternatives, and CWM  Financial targets:  Client assets: 7–10% p.a.  Revenue: 7–12% p.a.  Pretax income: 10–15% p.a.  Pretax margin: 30–35%  ROE: 25% + Client assets $3T Revenue $13B Pretax income $4B 3+ years Key takeaways Future growth 22

February 26, 2013 C O R P O R A T E & I N V E S T M E N T B A N K Mike Cavanagh, Co-Chief Executive Officer Corporate & Investment Bank Daniel Pinto, Co-Chief Executive Officer Corporate & Investment Bank

C O R P O R A T E & I N V E S T M E N T B A N K The Corporate & Investment Bank (“CIB”) is operating from a position of strength CIB performance  Revenue: $34.3B (largest in the industry1)  Cumulative 3-year earnings of $24.1B CIB delivering strong results  #1 in IB Fees; widened gap to #2  IB Fees of $5.8B; record debt underwriting  Record Treasury Services revenue of $4.2B  Lending revenue of $1.3B More leadership positions in banking and markets businesses than any competitor  #1 in Fixed Income; revenue of $15.4B  #4 in Equities; revenue of $4.4B  Securities Services revenue of $4.0B; record $19T in Assets under Custody Markets & Investor Services $6.6 $6.8 $6.8 $1.1 $1.2 $1.7 $7.7 $8.0 $8.4 2010 2011 2012 Heritage IB Heritage TSS H-IB 17% 17% H-TSS 17% 17% World class franchise – delivering best-in-class returns with leading market shares Superior risk discipline and controls Long-term outlook for capital markets and flow businesses is strong 16% +/- through-the-cycle ROE on increased capital allocation of $56.5B 1 Based on CIB/IB segment equivalent revenue, excl. DVA 2 19% CIB ROE excl. DVA, 15% CIB pro forma ROE based on new allocated capital,16% CIB pro forma ROE on new allocated capital excl. DVA. Throughout this presentation, CIB provides several non-GAAP financial measures which exclude the impact of DVA on: net revenue, net income, overhead ratio, compensation ratio and return on equity. These measures are used by management to assess the underlying performance of the business and for comparability with peers CIB 17% 17% 17% 22% 18%2 Banking 1

Agenda Page C O R P O R A T E & I N V E S T M E N T B A N K 2 J.P. Morgan is positioned to maintain leadership in wholesale banking 2 Macro trends support long-term attractiveness of global wholesale banking 24 Management priorities for 2013 32 Wrap-up 44

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G CIB is positioned to maintain our leadership in wholesale banking Client-driven franchise – CIB organization aligned to best serve the full set of needs of corporate and investor clients 1 Economies of scale – Scale and operating efficiency afford us the ability to continue to invest in and expand our platform 2 Fortress balance sheet – Being well-capitalized with stable funding sources gives us a durable business model and makes us a preferred and resilient counterparty 3 Stable earnings – Flow-based markets franchise generates very stable, consistent earnings with lower risk 5 CIB possesses all of the best-in-class and global elements required to serve our clients Completeness of capabilities and global reach – Leadership position in each business helps us deliver better solutions to clients 4 Positioned to generate strong through-the-cycle returns on the stand-alone risk- based capital needs of the business 6 3

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G Our client franchise is large and diverse with deepening global relationships Client-driven franchise Clients with >$50K in revenue (2012) Highlights 1 North America 39% EMEA 33% APAC 19% Latam 9% 2012 CIB clients: ~7,600 North America 52% EMEA 32% APAC 12% Latam 4% CIB revenue by region (2012) 2012 CIB revenue, excl. DVA: $35.3B 61% of clients are international 48% international revenue Significant clients (>$1mm in revenue) 1,100 1,600 900 1,100 2,000 2,700 2009 2012 International North America ~7,600 clients generating revenue >$50K  ~22,000 accounts  ~2,700 clients generating >$1mm in revenue  International business growing the fastest  61% of our clients are outside the U.S.  48% of our revenues are outside the U.S. 4

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G We are recognized as best-in-class across all businesses Client-driven franchise 1 JPM select product rankings (2006-2012) 1 Dealogic, pro forma for industry mergers. Rankings are volume-based, except for IB Fees; 2 Equity underwriting ranking excluding accelerated book builds, as well as block trades: 2006 – #6, 2009 – #1, 2012 – #1; 3 CHIPS & Fedwire report; 4 Institutional Investor; 5 JPM estimates revenue share using public disclosure of Top 10 competitors, excl. DVA; ’06 is heritage JPM; 6 Company reports; 7 Coalition as of 1H12; Americas includes North America and Latin America. Coalition competitor set includes BAC, BARC, BNPP, C, CS, DB, GS, MS, SG, and UBS; 8 Coalition IndexPlus as of 3Q12 YTD 2006 2009 2012  Investment Banking1  IB Fees 2 1 1  Advisory 2 3 2  Equity underwriting2 52 12 42  Syndicated loans 1 1 1  Long-term debt 3 1 1  Treasury Services3  USD clearing 1 1 1  Research4  US Equity 6 2 1  US Fixed Income 2 2 1  Global Markets5  Fixed Income Markets 7 3 1  Equity Markets 8 5 4  Securities Services6  Assets Under Custody 2 2 2 3rd Tier 2nd Tier Top 3 JPM select international rankings (2012) 2012 Asia EMEA LatAm  Investment Banking  IB Fees1 4 2 3 1H 2012 Asia EMEA Americas  Fixed Income Marke s7  Rates 2 3 1  FX 5 4 1  Credit 10 1 2  Equity Markets7  Derivatives & Convertibles 1 2 3  Institutional Cash Equities 7 6 5 Industry-leading positions (3Q 2012)8 RBS UBS BARC CS C MS BAC DB GS JPM Total leadership positions 0 1 2 3 3 4 4 4 7 11 Origination & Advisory  M&A  ECM  DCM Equities  Institutional Cash Equities  Derivatives & Convertibles  Prime Services  F&O FICC  G10 Rates  G10 Credit  G 0 FX  Securitization  Emerging Markets  Commodities 3rd Tier 2nd Tier Top 3 5

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G Fixed Income and Equities Market Making & Agency Execution Client Clearing & Collateral Mgmt. Prime Brokerage Securities & Fund Services Markets & Investor Services Lending Corporate Finance Treasury Services Banking  Ability to leverage risk capital across transaction, commercial, and investment banking solutions  Better combination of top-tier capabilities globally than almost any competitor No competitor combines a best-in-class Markets business with a top tier Investor Services business CIB is organized to best serve the full set of needs of corporate and investor clients Client-driven franchise 1 Ma rket s In v est o r Se rv ice s In st it u ti o n a l In vest o rs C o rp o rates /G o v e rn me n ts /F Is Clien t C overag e Clien t C overag e 6

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G Leveraging the broad client franchise of JPMC – Resulting in significant benefits to all businesses Client-driven franchise 1 CCB $0.2B  Strong linkages between Chase Mortgage and CIB Fixed Income  Our CIB Corporate clients benefit from processing through Chase Paymentech AM $1.0B  Asset Management is an important client of CIB’s research, execution, custody and fund services  Private Bank is a key distribution channel for CIB equity offerings and a source of referrals for investment banking mandates  CIB is a steady source of client referrals for the Private Bank CB $4.0B  44% of CB revenue comes from CIB products  $2.4B of gross revenue from CB clients using Treasury Services (TS) products  $1.6B of gross IB revenue from CB clients  $1.1B from Banking & $0.4B from Markets  23,000 CB Commercial & Industrial clients  20,000+ use TS products3  ~1,000 use IB underwriting/advisory services3 2012 CB revenue by product 2012 CB cross-sell highlights Lending & Other 56% Treasury Services 36% Banking & Markets (Net) 8% 2012 total CB revenue: $6.8B2 Note: Totals may not sum due to rounding 1 Reflects gross CIB cross-LOB revenue for FY2012 2 Treasury Services reflects gross revenue, Banking & Markets reflects net revenue 3 Client count for TS products and IB underwriting/advisory includes CB Commercial & Industrial and select Commercial Real Estate clients that are not included in the 23,000 Commercial & Industrial figure $5.2B CIB1 7

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G We have achieved scale that allows for efficiency and ongoing investment Economies of scale 2 Trading  $1T+ of securities traded & settled daily  125mm+ equity shares traded daily  60K+ Fixed Income trades daily Processing  $980T of USD payments; $4T average daily  #1 USD wire clearer with 20% share of Fedwire and CHIPS1  $19T in Assets under Custody Lending & Capital Raising  In 2012, arranged $650B of loans & commitments for clients  $500B of debt and equity raised for clients in 2012 Resources & Footprint  52,000+ employees (11,700+ technology professionals)  Conduct business in 100+ markets  Local presence in ~60 countries and growing Scale gives us a natural efficiency advantage over smaller competitors 1 Clearing House Interbank Payments System 8

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G $22.9 $22.0 $21.9 2010 2011 2012 $12.4 $11.7 $11.3 $10.5 $10.3 $10.5 2010 2011 2012 Comp Non-comp Our disciplined focus on expenses is ongoing… Economies of scale 2 CIB expense trend1 ($B) +3% CAGR Core expense Core expense Core expense Revenue growth, excl. DVA CAGR +143% (4%) Regulatory Regulatory Regulatory Note: Core expense scale broken for illustrative purposes 1 Regulatory assessments include FDIC, UK Bank levy, FSA and other regulatory fees CIB comp and non-comp expense ($B) $22.9 $22.0 $21.9 1 Overhead, comp/revenue and non-comp/revenue ratios exclude DVA impact. Comp/revenue and overhead ratio in 2010 also excludes impact of UK Bank Payroll Tax Overhead ratio1 68% 68% 62% Comp/Rev1 36% 36% 32% Non-comp/Rev1 32% 32% 30% 9

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G …and allows us to continue to commit resources to building a strong franchise Economies of scale …and other priorities Attracting the best talent Maintaining pay for performance culture Expanding businesses & products globally (e.g., Prime Brokerage, Commodities) Building leading electronic trading capabilities  Funding best-in-class technology  Investing in robust controls 2 Rebalancing expenses towards international opportunities… $22.9B $22.0B $21.9B 2010 2011 2012 International International International North America North America North America CAGR 0% (4%) 10

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G We expect to continue to be able to deliver market leading margins Economies of scale 2 1 Represents CIB/IB equivalent segments of competitors, excluding the impact of DVA 2 Global Markets only 2012 overhead ratio vs. peers1  Ample ongoing efficiency opportunities  Heritage IB and Heritage TSS efforts (SRP, Value for Scale, WSS expense improvements, etc.)  New CIB opportunities (e.g., rationalize technology platforms, streamline coverage teams, improve client on-boarding, extract support area synergies, etc.)  Continued support of new growth initiatives and investments  We expect to maintain our compensation philosophy and approach  Maintain our leading overhead ratio Outlook 48% 44% 40% 37% 32% 36% 37% 41% 29% 30% 68% 61% 84% 82% 81% 66% 62% CS MS DB BAC GS JPM C Comp/Rev Non-comp/Rev Overhead ratio 2 11

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G We have a strong balance sheet and natural sources of funding from wholesale deposits Fortress balance sheet 3 Note: Reflects adjustments to 4Q12 spot balance sheet to reflect CIB capital realignment of $56.5B. Reported 4Q12 CIB allocated capital is $47.5B 1 Net of allowance for loan losses 2 Includes resales, securities borrowed and cash and due from banks from CIB 3 Includes CIB trading assets and derivatives receivable 4 Includes other assets, other intangible assets, MSR, premises and equipment, accrued interest and accounts receivable and non-CIB trading assets 5 Includes trading liabilities, Fed funds purchased and securities loaned or sold under repurchase agreements, VIEs, other borrowed funds and other liabilities all in CIB and derivatives payable 4Q12 pro forma balance sheet ($B) Highlights  Substantial excess wholesale deposits are used to create a strong liquid asset pool (managed by Corporate)  Allocated equity supports a 9.5% pro forma Basel III Tier 1 Common ratio $57 $69 $137 $416 $278 $317 $192 $114 $28 $386 $240 Assets Liabilities $1,117 $1,117 Loans1 Capital Markets Secured Financing2 Wholesale Deposits Capital Markets Secured Financing5 Capital Markets Liabilities5 Long-Term Debt Equity Excess Liquidity Managed by Corporate Treasury Commercial Paper Sweep Capital Markets Trading Assets3 Other4 12

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G Our derivatives exposure is client-driven and high quality Fortress balance sheet $154 $75 $61 ($79) ($14) Net derivatives receivable Less cash collateral Derivatives receivable, net of cash collateral Liquid securities and other cash collateral Derivatives receivable, net of all collateral Gross derivatives notional outstanding ($T) $70 Firmwide derivative receivables, net (4Q12; $B unless otherwise specified) Maturity (years) 4Q12 Less than 1 year 22% Between 1 and 5 years 41% Greater than 5 years 37% Risk Rating 4Q12 Investment grade 82 Unrated or Non- investment grade 18% Top 10 31% Other 69% Total: $11B 3 Counterparty credit exposure 13

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G We achieved our 2012 RWA targets but new rules have now come into effect Fortress balance sheet Basel III RWA – 4Q11 to 4Q12 ($B) 3 $467 $410 $500 ($57) $90 $115 $615 4Q11 BAU activity 2Q12 Final B2.5 rules and latest B3 NPR +/- BAU activity 4Q12 TSS 4Q12 Combined Heritage IB Original 4Q12 target of $413B 1 1 Includes impact of Corporate allocations 14

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G $550 $535 $65 $30 ($50) 4Q12 RWA reducing actions (primarily from run-off and other activities) Post actions We are well-capitalized, targeting ~9.5% Tier 1 common on a stand-alone basis Fortress balance sheet 3 Basel III RWA glidepath ($B) Allocated equity1 $56.5B2 $56.5B 9.1% ~9.5% Tier 1 Common (%) 1 Tier 1 common equity equals allocated equity less $1B in goodwill 2 Reflects attributed common equity effective 1/1/13 Core Businesses Run-off & other $615 $565 15

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G Our leadership position in each business helps us deliver better solutions for clients Completeness of capabilities and global reach 4 Leadership position in each business… …helps deliver more complete client solutions  Insights from best-in-class Markets franchise lead to differentiated credit & advisory solutions  Leading cross-border capital raising and execution capability allow for more efficient financing solutions for clients  Deep lending and transaction banking relationships with corporate clients lead to superior capital markets advisory  Best-in-class financing, clearing and custody drive superior execution for Equity and Fixed Income clients  Physical and financial commodity hedging offering provide superior trade finance solutions for corporate and government clients ~90% of total CIB revenues Markets Banking Investor Services  Fixed Income Market Making  Equities Market Making  Lending Corporate Finance  Treasury Services Client Clearing & Collateral Management  Prime Brokerage  Securities & Fund Services 16

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G We have a strong global network to support our clients Completeness of capabilities and global reach 4 How we serve our clients globally Few institutions have the commitment and resources required to build and maintain a global network North America Latin America EMEA APAC Total employees1 1,000 Clients2 700 Significant clients2 200 Local Offices3 10 1 Reflects total number of employees located in the region per MD&A view. APAC includes ~8,800 employees in India, including those in global data and service centers 2 Clients defined as clients with $50K+ in revenue; Significant clients defined as clients with $1mm+ in revenue 3 Represents cities where CIB has client facing activity per the definition of “client facing” utilized in MD&A disclosure 52,000+ professionals serving ~7,600 clients across the globe Total employees1 22,000 Clients2 3,000 Significant clients2 1,100 Total employees1 12,400 Clients2 2,500 Significant clients2 950 Local Offices3 37 Total employees1 16,700 Clients2 1,400 Significant clients2 450 Local Offices3 28 17

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G This has helped us significantly deepen our relationships with our clients Completeness of capabilities and global reach Evolution of product set usage among clients 4 1 2-6 7+ Relationship initiated through Banking or Markets & Investor Services  Comprehensive offering:  Advisory, ECM, DCM  Lending  Rates, Credit, FX, SPG  Equities, F&O  Commodities  Cash Mgmt., Liquidity  Trade  Depositary Receipts  Custody # of product sets Average revenue per client ($mm) $0.4 $1.7 $15.5 ROE per client +600bps increase in client ROEs 18

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G Our Markets business is flow-based and diverse… Stable earnings Markets revenue by flow vs. structured Note: Rates includes Public Finance, Credit includes Securitized Products and Equities includes Prime Services 1 “Other” in 2006 primarily includes results from discontinued activities 2 2012 “Credit” includes impact from Synthetic Credit Portfolio transferred from CIO to CIB on 7/2/12 Markets revenue by product 5 $12.2 $19.8 2006 2012 $12.2 $19.8 2006 2012 Note: Analysis excludes GSOG and Fixed Income Management Total Markets revenue wallet1 $217B $169B2 JPM share (%) ~5% ~11%2 1 Oliver Wyman industry revenue wallet estimates 2 Represents 2011 industry revenue wallet and JPM Markets revenue wallet share; 2012 wallet results are not available Structured Flow Structured Flow Other1 Equities Commodities FX Rates Credit Equities Commodities FX Rates Credit2 19

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G 48 26 11 51 73 10 8 5 8 Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 … and has high daily risk turnover Stable earnings Case study – EMEA Credit Trading daily turnover metrics Average daily turnover: 15 Note: Turnover defined as daily CR01 risk traded divided by starting CR01. CR01 is the risk position for a desk (amount of money desk makes or loses on a one-basis-point move in the credit spreads); actual two-week period Inventory turns over multiple times a day from client transactions 15 16 10 27 20 27 36 16 27 Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Case study – North America interest rate swaps daily turnover metrics Note: Turnover defined as daily DV01 risk traded divided by starting DV01. DV01 is the risk position for a desk (amount of money desk makes or loses on a one-basis-point move in the yield curve); actual two-week period Average daily turnover: 22 5 20

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G This helps us deliver quality earnings… Stable earnings 5 CIB earnings ($B) Note: Discontinued businesses and management netted from operating businesses Cumulative quarterly Markets revenue by business day (last 12 quarters) $7.7 $8.0 $8.4 2010 2011 2012 Banking Markets Investor Services 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 1 6 11 16 21 26 31 36 41 46 51 56 61 66 Cu m u la ti ve q u a rterl y re v e n u e , e x cl. D V A ($ B ) Business day in quarter Revenue to cover cost of capital and expenses 3Q11 3Q12 1Q12 4Q12 21

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G …with unique stability and growth Stable earnings Markets and CIB average daily revenue (excl. DVA) and volatility ($mm) 5 $63 $60 $69 $126 $120 $129 $0 $20 $40 $60 $80 $100 $120 $140 $0 $20 $40 $60 $80 $100 $120 $140 2010 2011 2012 Markets volatility ($mm) CIB Volatility ($mm) CIB avg. daily revenue, excl. DVA ($mm) Markets avg. daily revenue ($mm) 8 26 7 / 43 # of trading day losses1 CIB VaR ($mm)2 $99 $76 $84 Note: Volatility equals standard deviation 1 Heritage IB businesses trading loss days only 2 EOP total CIB trading and credit portfolio VaR. 2012 includes VaR related to synthetic credit portfolio (“SCP”) transferred from CIO to CIB on 7/2/12 3 Reflects trading loss days excl. DVA and excl. SCP 22

J . P . M O R G A N I S P O S I T I O N E D T O M A I N T A I N L E A D E R S H I P I N W H O L E S A L E B A N K I N G TTC ROE 2012 pro forma ROE Each of our businesses will continue to deliver best-in-class shareholder returns Best-in-class returns 6 Business Banking TTC RWA TTC Capital1 Outlook for achieving returns $150 $14.4  Improved interest rate environment  Growth initiatives – international expansion  Normalized credit costs  High RWA rule certainty Investor Services $65 $6.2  Improved interest rate environment  Ongoing efficiency improvements  Market Structure changes create opportunities (e.g. Collateral Management)  High RWA rule certainty Markets $320 $31.8  Leading businesses, flow & scale model, strong client franchise  Regulatory impact  RWA rule uncertainty CIB $565 $56.5 Through-the-cycle (“TTC”) RWA, Capital and Returns ($B) Run-off & Other $30 $4.1 N/A 20% 16% 19% 15% N/A 18% +/- 20% +/- 16% +/- 16% +/- N/A 1 Represents allocated equity 23

Agenda Page C O R P O R A T E & I N V E S T M E N T B A N K 24 Macro trends support long-term attractiveness of global wholesale banking 24 J.P. Morgan is positioned to maintain leadership in wholesale banking 2 Management priorities for 2013 32 Wrap-up 44

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G Macro trends support the long-term attractiveness of global wholesale banking Bank deleveraging, primarily in Europe – Resulting in increased reliance on capital markets and opportunities for capital markets leaders 2 Macro trends affecting wholesale banking Regulation – Global industry regulation will lead to increased operating expenses; scaled players better positioned 1 JPM is uniquely positioned to navigate these market forces  Client focus  Scale  Global reach  Investment capacity Financial market deepening – Continued deepening in financial markets, particularly in emerging markets 3 Changing client demand – Shift away from structured products; clients focused on less complex solutions 5 Global commerce growth – Renewed growth in global commerce post-crisis, resulting in growing cross-border opportunities 4 25

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G We are well positioned to adapt to changing regulations Regulation Market structure1 Bank structure JPM position Depth and breadth of franchise provides sufficient ability to absorb changes  Our business model is client- driven Strong culture of control, compliance and treating customers fairly  Able to absorb necessary spend  Aggressively expanding into new business areas Customer protection 1 1 Includes central clearing, trading on Swap Execution Facilities or similar platforms, post-trade transparency and additional margin for OTC derivatives Market-wide impact  Potential changes in legal entity structure  Could hurt liquidity  Cost to implement changes  Reduced importance of counterparty strength  Increased importance of e- trading capabilities  Blocks and less liquid instruments harder to trade  Constrained client leverage  Additional compliance effort  Major client re- documentation program  Technology investment required Regulations  Dodd Frank-Title VII  EMIR  MiFID II  Volcker  Vickers  Liikanen  Dodd Frank-Section 716  Recovery/Resolution  Dodd Frank-Title VII External Business Conduct  MiFID II Our scale, franchise strength, large client base, operational excellence and ability to invest in new technology positions us well in changing regulatory environment 26

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G Depth and breadth of franchise provides sufficient ability to absorb regulatory impact Regulation 1 Potential impact by business Considerations  Considers impact of post-trade transparency, mandatory clearing, SEF trading, new margin rules, and extraterritoriality: $1-2B potential revenue impact  Does not take into consideration new revenue opportunities in OTC Clearing & Collateral Management: $0.3-0.5B potential revenue benefit  Impact of Volcker not included above – will only see true effect 2-3 years post implementation – our well- established, flow-driven, client-focused franchise is a source of strength Rates FX Rates FX Equities CIB Markets businesses Potentially impacted ~35% Potential revenue loss ~5-10% No expected impact ~65% CIB Markets business: Range of potential revenue impact from market structure regulations Total Markets revenue Credit1 ~$1-2B potential revenue loss Equities Commodities Commodities Credit1 1 Credit includes Securitized Products 27

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G 5.7% 5.8% 6.2% 2010 2011 2012 Bank deleveraging, especially in Europe, creates new capital markets opportunities Bank deleveraging 1 McKinsey 2 Driven by bank deleveraging  Tighter regulatory capital requirements forcing European & U.S. banks to reduce RWA by ~$1T1  Banks scaling back/selling assets  Clients will need new sources of funding, primarily in Europe  Shift from lending to capital markets JPM DCM franchise – fee rankings JPM EMEA corporate finance fee share JPM Rank #2 #2 #2 Gap to #1 120bps 130bps 60bps Source: Dealogic Global #1 #1 #1 Yankee1 #1 #1 #1 EMEA #5 #4 #3 2010 2011 2012 63% 66% 45% 29% 28% 48% 8% 6% 6% 2010 2011 2012 Syndicated lending Bonds Equity Shift from syndicated lending to bonds – Western European example Shift to bonds Source: Dealogic 1Yankee bonds defined as U.S. denominated bonds issued in the U.S. by a foreign issuer Source: Dealogic; new issuance volumes for Western European headquartered corporates 100% = $1.2T 100% = $1.3T 100% = $1.2T 1 Source: McKinsey 28

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G 3 JPM international revenue by segment ($B) 462 457 400 280 209 190 148 142 U.S. Japan W. Euro China India ME & Africa LatAm CEE & CIS Financial market depth as % of GDP Source: McKinsey Global Institute 5 2 5 21 23 16 15 21 Financial market deepening is driving increased capital markets opportunities Financial market deepening CAGR 2000-2010 (%):  Credit is expected to double from $109T in 2009 to $213T by 2020, driven by emerging markets (12% CAGR)  Corporate need for equity will double over the next 10 years, triple in emerging markets Source: World Economic Forum, McKinsey Global Institute Positive long-term industry outlook  Built a strong global capital markets franchise over the past several years  Strong on-shore trading & execution capabilities in all major markets and continue to expand into new local markets JPM is increasingly international $15.2 $16.1 $17.5 2010 2011 2012 Markets Investor Services Banking Note: Excl. DVA and certain discontinued / run-off businesses CAGR 4% 8% 8% 29

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G 4 Significant growth in global commerce and flows will benefit global banks Global commerce growth JPM Trade Finance revenue & CAGR EMEA Asia LatAm 2010 2012 23% 45% 70% JPM Transaction Services revenue & CAGR Growth in cross-border trade flows ($T) 6% 7% 13% 15% Americas Europe MENA Asia 2011-2020E CAGR EMEA Asia LatAm 2010 2012 18% 22% 12% Growth in transaction banking revenues Source: Boston Consulting Group Note: Represents wholesale 16 86 2001 2020 N.A. & RoW Europe Asia Source: Boston Consulting Group 30

M A C R O T R E N D S S U P P O R T L O N G - T E R M A T T R A C T I V E N E S S O F G L O B A L W H O L E S A L E B A N K I N G Source: Coalition. Flow includes Cash and Flow Equity Derivatives, F&O, Flow Credit, Flow Rates, U.S. Munis, Repo/STIR, FX Spots, Forwards, & Options. Structured includes Structured EQD, Exotic & Structured Credit, and Exotic & Structured Rates. Excludes Commodities, Prime Services, Securitized Products, Emerging Markets, O&A, Risk/Prop revenues Clients have shifted to flow solutions; our model is already flow and scale driven Changing client demand Industry client revenue – flow vs. structured F lo w JPM client revenue per trade 99% 0.7% 0.3% 0.1% 0.03% 0.02% $0-$50K $50K- $100K $100K- $250K $250K- $500K $500K- $1mm $1mm+ 5  High volume  Low volume  ~75% of our Markets revenue is from trades below $500K – business model is well- positioned for electronification 28% 24% 72% 76% 2006 2012F 100% 100% % Flow % Structured 31

Agenda Page C O R P O R A T E & I N V E S T M E N T B A N K 32 Management priorities for 2013 32 J.P. Morgan is positioned to maintain leadership in wholesale banking 2 Macro trends support long-term attractiveness of global wholesale banking 24 Wrap-up 44

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 Management priorities for 2013 2013 CIB priorities 1 International expansion – Deepen Global Corporate Bank and Treasury Services solutions around the world, ensuring full integration of FX and Payments 3 Electronic trading – Close the gap with leaders in Equities electronic trading and invest in Fixed Income capabilities to prepare for the future 2 Prime Brokerage, Clearing & Collateral Management – Continue Global Prime Brokerage build-out, expand OTC clearing platform, and build cutting-edge collateral management solutions Technology efficiency & innovation – Complete Strategic Reengineering Program and execute on Value for Scale efforts while continuing to invest and innovate 4 Continued business optimization – Optimize businesses across the CIB to effectively and efficiently service clients 5 Continued focus on strong risk management and controls, talent management and investment discipline 33

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 The firm has invested heavily in international coverage and product capabilities International expansion 07/20/11 Global Corporate Bank banker growth (2009-2012) Global Corporate Bank associated revenue ($B) (2009-2012) 2009 2010 2011 2012 98 177 252 285 4.0x 1.9x 3.0x 4.3x U.S./Canada EMEA APAC LatAm 1  Continue to deepen capabilities across key international locations:  ~$800mm spent since 2010 on product investments (including local products and lending capabilities and global platform build)  Deep, differentiated capabilities in key emerging markets (India, China, Brazil, Mexico, Saudi Arabia)  Completing a competitive offering in ASEAN, Emerging EMEA (Russia, South Africa, UAE, Turkey) and Latin America (Argentina, Chile and Colombia)  Building innovative solutions in developed markets – Western Europe (e.g. SEPA payments), Japan, Australia  We expect the majority of these investments to be at or close to completion by the end of 2013 Priorities 2009 2010 2011 2012 20.2% 3.5% 8.0% 16.3% U.S./Canada EMEA APAC LatAm $8.2 $8.5 $9.2 $10.2 34

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 We are making significant progress across all products and countries International expansion International revenue product growth with Corporate clients 1 IB products include derivatives (mainly Commodities, FX, and Rates) and DCM (Debt Underwriting and Loan Syndication fees) 2 Inbound refers to revenue with subsidiaries of foreign multinationals in the country (e.g. Wal-Mart in China). Outbound refers to revenue from subsidiaries of companies headquartered in these countries (e.g. Reliance revenue in Indonesia) 3 Represents global revenue from companies headquartered in each respective region 4 U.S. International includes revenue from subsidiaries of U.S. headquartered companies and FX revenue globally 34% 79% 29% >100% >150% >75% Core Cash & Liquidity Trade IB Products1 2012 vs. 2010 5-year expected growth 1 International revenue growth by region3 with Corporate clients 38% 54% 51% 52% >90% >140% >130% EMEA 2012 vs. 2010 5-year expected growth APAC LatAm U.S. Int’l4 >130% Revenue growth ahead of plan; ~30% of pre-tax target achieved 2.6x 3.5x 1.7x 2.5x 3.0x 1.4x 1.9x 1.6x 1.5x 1.6x 1.9x 1.2x Revenue growth in key emerging markets – 2012 vs. 20102 C hin a In d ia B raz il R e s t of E M A P A C In-Country Inbound Outbound In-Country Inbound Outbound In-Country Inbound In-Country Inbound Outbound Outbound 35

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 International Prime Brokerage JPM Prime Brokerage balances increase Status of build-out  JPM Prime Brokerage has historically been a leading U.S. focused business  Prime Brokerage clients need round-the-world coverage to finance and execute global trading strategies  Goal is to be a top-tier player in EMEA and Asia  Significant growth from a small starting base  International revenue expected to approach ~$600mm in steady state (~2015), excluding future benefits to Equities  In EMEA  Executed key hires  Launched International Prime Brokerage in June 2011  Onboarding of new clients significantly ahead of expectations  In Asia  Executed key hires  Developed regional strategy  Enhancing region-specific capabilities in 2013 2010 2011 2012 Continued global Prime Brokerage build-out Prime Brokerage 2 JPM Int’l. Prime Brokerage balances increase 2010 2011 2012 36

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 We are launching innovative solutions to help clients navigate the changing collateral management landscape Collateral Management 2 Significant new client needs  Economic  Optimal collateral posting mix  Reduce financing costs  Enhance yield on excess cash/securities  New regulations creating additional clearing and collateral requirements, most starting in 2013  Wide ranging industry estimates on the need for additional collateral: ~$500B-$5T We will offer end-to-end solutions... Consolidated collateral view Margin management and analytics Collateral optimization Collateral transformation Reporting and service delivery  Risk mitigation  Manage counterparty credit exposure  Verify margin requirements  Support dispute resolution  Operational efficiency  Access to robust & scalable infrastructure  Transparent, efficient & cost effective collateral posting Expected to generate incremental direct and ancillary revenue of ~$300-500mm from OTC Clearing & Collateral Management ...that will deliver significant value to clients JPM is uniquely positioned  Strong existing product capability: leveraging existing collateral management products and platform  Entrenched client relationships: deep relationships with all target clients across Custody, Financing, Clearing, and Execution 37

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 Growth of electronic trading will continue to drive higher flow volumes at tighter spreads; players with best-in-class electronic capabilities will have a competitive advantage Electronic trading 3 Source: McKinsey, Oliver Wyman, Greyspark 70 55-65 40-50 40 30 75 80 65-75 60 60 50 85 CDS Index FX Spot European Government Bonds Precious metals U.S. Treasuries Cash Equities 2012 2015F Industry Fixed Income & Equities e-trading volumes (%) by asset class Evolution of Fixed Income e-trading landscape  Introduction of Swap Execution Facilities likely to accelerate trading electronification of Interest Rates and Credit default swaps  Extent of electronification will depend on final regulation but likely to result in increased price transparency and automated execution and clearing capabilities  Non-standard end-user swaps likely to remain voice-traded for now  Emerging crossing networks for bonds are complementary to traditional dealer services  Expect dealers will continue to provide inventory and liquidity and bring new issuance into the markets 38

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 We are aggressively building best-in-class electronic trading capabilities Electronic trading 3 JPM Best-in-class Equities low touch revenue (2012) Source: Coalition, JPM internal estimates  Building flexible platform that allows us to be ready to trade on any new format (e.g., RFQ, CLOB)  Launched J.P. Morgan Markets – aggregating all research, execution, analytics and post- trade services across Fixed Income  Scale FX, Rates, and Commodities e-trading capabilities to reach additional products and clients  Continuing to invest in cross-asset infrastructure and venue connectivity Preparing for the future in Fixed Income Potential to add ~$300-400mm in revenue as we build a leadership position; significant investments to ensure robust controls across the board  Algorithms and trading infrastructure now on par with market leaders  Driving full integration of electronic and voice- based sales and trading  Full integration across cash, derivatives, and prime brokerage offerings Continue to close the gap in Equities 39

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 Multi-year technology investments are beginning to pay off – will deliver savings of $650mm+ in steady-state Technology efficiency & innovation 4 Investments to drive efficiency…  80% complete; on track for 2013 completion  Cumulative spend of ~$700mm out of 4-year plan of ~$775mm; cumulative savings of $400mm+  Annual savings achieved to date ~$215mm vs. $300mm+ (target at the end of 2013)  40 major applications decommissioned Strategic Reengineering Program (SRP)  Launched J.P. Morgan Markets (JPMM), new web and mobile platform, as single client facing platform  50,000 external users  37 systems consolidated  Merging Securities Services Portal with JPMM  Integrated approach to client on-boarding process and tools, increasing transparency, quality and control and reducing duplication Investor clients  Combining IB and TSS Technology & Operations components with focus on rationalizing:  Processing & Operating units – e.g., securities, derivatives, client on-boarding, reference data  International branches  ~$150mm estimated spend to be incurred over-time  $365mm+ in incremental annual savings by 2015 Value for Scale …and enhanced client experience Corporate clients Continuing to differentiate through innovation – Athena, Mobile research and trading applications, Big Data, etc.  Launched Cash Management portal – J.P. Morgan ACCESS Next Generation; will service 25,000 global clients and 180,000 users  Launching Global Payments Hub - will provide leading payments capabilities globally 40

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 Post-trade Structuring J.P. Morgan Markets: A single global platform offering clients access to advanced tools across the trade lifecycle Technology efficiency & innovation Analytics Research Trade Execution 4 41

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 Athena is a next generation pricing, risk management, analysis and trade management platform that spans many asset classes Technology efficiency & innovation 4 Product Structuring and Pricing Risk Reporting and Analytics Trader Desktop Trade Operations 42

M A N A G E M E N T P R I O R I T I E S F O R 2 0 1 3 Optimize businesses across CIB to effectively & efficiently serve clients Continued business optimization (select examples) 5 Commodities  Optimizing business for new regulation and improving efficiency  Top 3 player with full product capabilities across Financial and Physical  Strong and diverse client driven franchise; we have 2,000+ clients  Significant efficiencies expected as old technology platforms and related infrastructure are retired Continual identification & execution of new areas for optimization and integration Equities  Investing to be a top-tier Equities business  Strategic foundation in place – diverse client base, talent, integrated platform  Integrating cash & derivatives sales and trading resources, optimizing equity research, driving productivity  Accelerating electronification of our execution services business model to drive incremental client commission revenue and internal efficiencies Client coverage  Aligning client coverage models to create better client experience  Integrated Banking Coverage teams regionally – bringing together best-in-class solutions for clients  Established regional Markets & Investor Service sales forces – delivering full suite of products across and within all regions 43

Agenda Page C O R P O R A T E & I N V E S T M E N T B A N K 44 Wrap-up 44 J.P. Morgan is positioned to maintain leadership in wholesale banking 2 Macro trends support long-term attractiveness of global wholesale banking 24 Management priorities for 2013 32

W R A P - U P In summary…  Leadership position across Banking, Markets and Investor Services, with room for growth  Strong client franchise  Scale & completeness of offerings  Financial strength  Capacity to continue to invest in future growth  Strong track record of performance through challenging markets  Regulatory headwinds, but long-term outlook for wholesale banking is strong Significant earnings & return potential with a 16% +/- through-the- cycle ROE 45