Bank of America Reports Quarterly Net Income of $4.9 Billion, EPS of $0.51 CET1 Ratio Improved to 11.9%, Average Deposits up $320 Billion to $1.7 Trillion, Average Global Liquidity Sources Grew $307 Billion to $859 Billion(A)(B) Q3-20 Financial Highlights1 Q3-20 Business Segment Highlights1,2(C) • Net income of $4.9 billion, or $0.51 per diluted Consumer Banking share • Net income of $2.1 billion • Provision for credit losses increased to $1.4 billion, • Loans up 5% to $319 billion; deposits up 21% to $861 billion driven by COVID-19 impacts in commercial • Consumer investment assets up 20% to $267 billion, driven by flows • Revenue, net of interest expense, decreased 11% of $24 billion since Q3-19 to $20.3 billion • Client Support Actions: (D) – Net interest income (NII) down 17% to $10.1 – ~343,000 Paycheck Protection Program loans to small business billion, driven by lower interest rates owners YTD; ~$25 billion in outstanding balances – Noninterest income declined 4% to $10.2 billion, – Processed ~1.8 million payment deferrals YTD, of which ~100,000 primarily reflecting lower consumer fees as well were still in place as of September 30 as improved trading and investment banking results Global Wealth and Investment Management • Noninterest expense decreased 5% to $14.4 billion • Net income of $749 million as higher net costs related to COVID-19 and higher • Record client balances of $3.1 trillion, up 6%, driven by higher market litigation expense were more than offset by the valuations and client flows absence of a $2.1 billion Merchant Services • Loans up 9% to $186 billion; deposits up 15% to $292 billion impairment charge recorded in the year-ago • Merrill added ~17,000 net new households YTD, and Private Bank quarter added more than 1,400 net new relationships YTD • Loan and lease balances in the business segments • Client Support Actions: rose $27 billion, or 3%, to $950 billion – 77% of Wealth Management clients used online or mobile platform • Deposits rose $320 billion, or 23%, to $1.7 trillion – Record 100,000+ WebEx meetings hosted by Merrill Lynch Wealth • Common equity tier 1 (CET1) ratio increased 50 Management Financial Advisors, up nearly 7 times vs. Q3-19 basis points to 11.9% (Standardized approach), – Private Bank teams averaged 1,850 client interactions/day YTD versus 9.5% required minimum(A) • Book value per common share rose 5% to $28.33; Global Banking tangible book value per common share rose 5% to $20.233 • Net income of $926 million From Chairman and CEO Brian Moynihan: • Firmwide investment banking fees (excl. self-led) up 15% to $1.8 billion; second-best quarter in firm's history "As the economy continued to recover, we generated • No. 3 ranking in investment banking fees YTD(E) nearly $5 billion in earnings this quarter, reflecting the diversity of our business model, our industry-leading • Loans down 1% to $373 billion; deposits up 31% to $471 billion market position and digital capabilities, and our • Client Support Actions: adherence to responsible growth. – Raised $617 billion in capital YTD on behalf of clients – Issued $2 billion Equality Progress Sustainability Bond to help "Our Consumer business earned $2.1 billion as asset reduce inequalities in Black and Hispanic/Latino communities quality remained sound and spending rebounded. Our Wealth Management business showed once again why Global Markets it is an industry leader in providing timely advice and guidance to clients, and our Global Banking and Global • Net income of $857 million Markets businesses continued to support the global • Sales and trading revenue of $3.2 billion, including net debit valuation economy by helping clients raise capital, manage risk adjustment (DVA) losses of $116 million and increase liquidity. • Excluding net DVA, sales and trading revenue increased 4% to $3.3 billion(F) "We also supported our communities by making – FICC increased 3% to $2.1 billion(F) progress on our $1 billion commitment to drive racial – Equities increased 6% to $1.2 billion(F) equality and issuing a $2 billion Equality Progress • Client Support Action: Sustainability Bond. I want to thank our teammates for – Supported clients by providing liquidity and a strong and resilient their exceptional work under extraordinarily difficult trading platform circumstances." See page 10 for endnotes. 1 Financial Highlights and Business Segment Highlights are compared to the year-ago quarter unless noted. Loan and deposit balances are shown on an average basis unless noted. 2 The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. 3 Tangible book value per common share represents a non-GAAP financial measure. For more information, see page 18. 1

Bank of America Financial Highlights(G) Three months ended ($ in billions, except per share data) 9/30/2020 6/30/2020 9/30/2019 Total revenue, net of interest expense $20.3 $22.3 $22.8 Provision for credit losses 1.4 5.1 0.8 Noninterest expense 14.4 13.4 15.2 Pretax income 4.5 3.8 6.9 Pretax, pre-provision income1(G) 5.9 8.9 7.6 Income tax expense (0.3) 0.3 1.1 Net Income 4.9 3.5 5.8 Diluted earnings per share $0.51 $0.37 $0.56 1 Pretax, pre-provision income represents a non-GAAP financial measure. For more information, see page 18. From Chief Financial Officer Paul Donofrio: "The past nine months have tested us and I’m proud to say that our teammates have responded extraordinarily well – continuing to deliver for our customers, our communities and our shareholders. In addition to providing billions of dollars in credit and liquidity to clients, and committing billions more to the communities in which we live and work, we have earned more than twice our dividend in every quarter since the crisis began. Equally important, our capital position and credit reserves increased this quarter, which positions us to continue to be a source of strength for all of our stakeholders." Supporting Employees, Clients and Communities Employees Clients – Extensive steps to help protect and support employees working – Extensive efforts to keep clients safe, including enhanced cleanings, in offices, including enhanced cleanings, providing personal personal protective equipment, wellness barriers, physical distancing, protective equipment and installing thousands of wellness virtual client meetings and opening drive-up windows barriers – Proactive client outreach across all businesses, including: – Expanded employee benefits (no-cost coronavirus testing in – Millions of letters and emails and placing outbound calls to U.S.; no-fee Teladoc; enhanced backup child care, including Consumer and Small Business clients reimbursement of up to $100 per day; physical and emotional – Thousands of calls, meetings and broadcasts to actively advise and wellness resources; and vacation and personal day flexibility) connect with Wealth Management and Private Bank clients – Proactive guidance and market insight from BofA Global Research – Dedicated communications and outreach to employees and and Investment Insights teams family members about available resources, including Life Event Services and Employee Assistance Program counseling services – ~343,000 Paycheck Protection Program loans to small business owners YTD; ~$25 billion in outstanding balances (avg. of $74,000; – Employee Relief Fund provides grants to U.S.-based 99% of loans to businesses with <100 employees) employees experiencing emergency hardships – Processed more than 16 million Economic Impact Payments YTD, – 24K,000 employees have been reskilled and realigned YTD to totaling more than $26 billion for clients and non-clients serve in new capacities and support our clients – Provided relief from various fees, including overdraft, non- – Committed to no COVID-19-related layoffs in 2020 sufficient funds, monthly maintenance and late charges Communities – Processed ~1.8 million payment deferral requests YTD across credit – Announced $1 billion, four-year initiative to help drive racial card, auto, mortgage and home equity, and small business loans equality and economic opportunity in communities of color through our Client Assistance Program, of which ~100,000 are still in – Announced $25 million commitment to the launch of a new place Smithsonian Institution initiative to further how Americans – No negative credit bureau reporting for previously up-to-date clients understand, experience and confront issues involving race requesting financial relief – Committed $100 million to support and address pressing needs – Raised $617 billion in capital for clients across debt/equity markets of health crisis, including health care, food and education YTD – Committed to provide up to $250 million in capital to community– Ensuring reliable access for clients’ financial needs through 24/7 access development financial institutions (CDFIs) and up to $10 million to mobile and online banking tools, virtual communication tools, in philanthropic grants to help fund CDFI operations continued access to cash, and ~4,300 financial centers and other bank offices – Issued $2 billion Equality Progress Sustainability Bond to advance racial equality, economic opportunity and environmental – Supported clients by providing liquidity and a strong and resilient sustainability trading platform – Issued $1 billion corporate social bond; first bond issued by a U.S. commercial bank entirely focused on fighting COVID-19 2

Consumer Banking1,2 Financial Results1 • Net income declined $1.3 billion to $2.1 billion, Three months ended reflecting the impact of lower interest rates, lower consumer fees and higher operating costs associated ($ in millions) 9/30/2020 6/30/2020 9/30/2019 with measures to protect the health and safety of Total revenue2 $8,039 $7,852 $9,724 employees and clients Provision for credit losses 479 3,024 917 • Revenue of $8.0 billion decreased 17%, driven by Noninterest expense 4,842 4,734 4,399 lower NII from lower rates, as well as lower service Pretax income 2,718 94 4,408 charges and lower card income, driven by reduced credit card activity Income tax expense 666 23 1,080 • Provision for credit losses decreased 48% to $479 Net income $2,052 $71 $3,328 million, driven by a reserve release(H) of $179 million due to an improved macroeconomic environment and Business Highlights1,3 (C) lower credit card balances Three months ended – Net charge-off ratio improved to 0.82%, compared ($ in billions) 9/30/2020 6/30/2020 9/30/2019 to 1.18% Average deposits $861.0 $810.7 $709.3 • Noninterest expense increased 10% to $4.8 billion, Average loans and leases 318.8 321.6 303.8 driven primarily by incremental expense to support customers and employees during COVID-19 Consumer investment assets 266.7 246.1 223.2 (EOP) – Continued investment in new and renovated financial centers, client professionals and digital Active mobile banking users 30.6 30.3 28.7 (MM) capabilities, offset by the benefits of digital usage Number of financial centers 4,309 4,298 4,302 Efficiency ratio 60 % 60 % 45 % Business Highlights1,3(C) Return on average allocated 21 1 36 capital • Average deposits grew $152 billion, or 21%; average loans grew $15 billion, or 5%, driven by growth in Total Consumer Credit Card3 residential mortgages and Small Business (PPP) loans Average credit card $81.3 $86.2 $94.4 • Consumer investment assets grew $44 billion, or outstanding balances 20%, to $267 billion, driven by client flows and Total credit/debit spend 166.1 143.3 162.0 market performance Risk-adjusted margin 9.7 % 8.5 % 8.5 % – $24 billion of client flows since Q3-19 1 Comparisons are to the year-ago quarter unless noted. – 3 million client accounts, up 10% YoY 2 Revenue, net of interest expense. 3 The Consumer credit card portfolio includes Consumer Banking and GWIM. • Combined credit/debit card spend up 2% • 6.9 million Consumer customers enrolled in Preferred Rewards, with 99% retention rate Continued Business Leadership • No. 1 Consumer Deposit Market Share (Estimated retail consumer Digital Usage Continued to Grow1 deposits based on June 30, 2020 FDIC deposit data) • 39.3 million active digital banking users, up 3% • No. 1 Small Business Lender (FDIC, Q2-20) • 30.6 million active mobile banking users, up 7% • No. 1 Online Banking and Mobile Banking Functionality (Keynova Q2-20 • Digital sales were 44% of all Consumer Banking Online Banker Scorecard, Javelin 2020 Online and Mobile Banking sales Scorecards) • 2.3 billion digital logins in Q3-20 • No. 1 in Prime Auto Credit Distribution of New Originations Among • 12.2 million active Zelle® users, now including small Peers (Experian AutoCount; franchised dealers; largest percentage of businesses; sent and received 140 million transfers 680+ Vantage 3.0 loan originations among key competitors as of July worth $39 billion in Q3-20, up 88% 2020) • ~688,000 digital appointments with an associate • No. 1 Digital Checking Account Sales Functionality (Forrester, January 2020) • Named North America’s Best Digital Bank (Euromoney, July 2020) • Best Mortgage Lender for First-Time Homebuyers (Nerdwallet, 2020) • Five Star Ranking Overall - Named a Top Online Stock Broker (Nerdwallet, 2020) 3

Global Wealth and Investment Management1,2 Financial Results1 • Net income down $348 million to $749 million • Revenue decreased 7% to $4.5 billion as lower NII Three months ended more than offset higher asset management fees ($ in millions) 9/30/2020 6/30/2020 9/30/2019 • Provision for credit losses decreased $13 million to Total revenue2 $4,546 $4,425 $4,904 $24 million Provision for credit losses 24 136 37 • Noninterest expense increased $116 million to $3.5 billion, driven primarily by higher revenue-related Noninterest expense 3,530 3,463 3,414 incentives and investments in primary sales Pretax income 992 826 1,453 professionals Income tax expense 243 202 356 Business Highlights1(C) Net income $749 $624 $1,097 • Total client balances up $161 billion, or 6%, to a record $3.1 trillion Business Highlights1(C) – Average deposits increased $37 billion, or 15%, to Three months ended $292 billion; average loans and leases grew $15 billion, or 9%, to $186 billion ($ in billions) 9/30/2020 6/30/2020 9/30/2019 – AUM flows of $1 billion in Q3-20 Average deposits $291.8 $287.1 $254.5 Average loans and leases 185.6 182.2 170.4 Merrill Lynch Wealth Management Highlights1 Total client balances (EOP) 3,066.6 2,927.8 2,906.0 • Strong Client Growth and Advisor Engagement AUM flows 1.4 3.6 5.5 – Record client balances of $2.6 trillion, up 5% – Record AUM balances of nearly $1 trillion, up 6% Pretax margin 22 % 19 % 30 % – Added ~3,600 net new households in Q3-20 Return on average allocated 20 17 30 capital – Record number of forms signed via eSignature and 1 Comparisons are to the year-ago quarter unless noted. Mobile Easy Sign in Q3, up more than 4 times 2 Revenue, net of interest expense. • Digital Usage Continued to Grow – 77% of clients actively using online or mobile Continued Business Leadership platform; record 36% Merrill Lynch mobile app • No. 1 U.S. wealth management market position across client assets, usage, up 39% deposits and loans (U.S.-based, full-service wirehouse peers based on – Record levels of advisor/client digital Q2-20 earnings releases) communications; 370,000+ secure texts, up 58% • No. 1 in personal trust assets under management (Industry Q2-20 FDIC call reports) – Record number of checks deposited digitally on • Most advisors (284) on Barron's 2020 Top 1,200 Financial Advisors list Merrill Lynch; 48% of all eligible checks deposited for the 11th consecutive year digitally, up 47% • Most advisors (240) named to Forbes' Top Womens Wealth Advisors list Bank of America Private Bank Highlights1 • Most advisors (1,013) on Forbes' Best-In-State Wealth Advisors list • Strong Client Engagement • No. 1 in Forbes’ Top Next-Generation Advisors (2020) – Record client balances of $496 billion, up 7% • No. 1 in Financial Times' Top 401k Retirement Plan Advisers (2019) • No. 1 in Barron’s Top 100 Women Advisors (2020) – Added more than 200 net new relationships in Q3 • Digital Wealth Impact Innovation Award for Digital Engagement – Client teams averaged 1,850 client (AITE Group, 2020) interactions per day YTD • Digital Usage Continued to Grow – Record 77% client adoption across online and mobile platforms; record 20% Private Bank mobile app usage, up from 12% – Record 71% of checks deposited digitally on BAC platform, up 14% – Record logins in Q3-20, up 45% – Once logged in, clients are using features more frequently: Erica sessions up 95%, Zelle transactions up 79%, and digital wallet transactions up 35% 4

Global Banking1,2 1 • Net income decreased $1.2 billion to $926 million Financial Results • Revenue of $4.5 billion decreased 13%, as lower NII Three months ended more than offset higher investment banking fees ($ in millions) 9/30/2020 6/30/2020 9/30/2019 • Provision for credit losses increased $763 million to Total revenue2,3 $4,517 $5,091 $5,212 (H) $883 million, due to higher reserve build from Provision for credit losses 883 1,873 120 COVID-19-impacted industries, such as travel and entertainment Noninterest expense 2,365 2,224 2,219 • Noninterest expense increased 7% to $2.4 billion, Pretax income 1,269 994 2,873 driven by continued investments in the business, Income tax expense 343 268 776 including for Merchant Services Net income $926 $726 $2,097 Business Highlights1,2(C) Business Highlights1,2(C) • Average deposits increased $111 billion, or 31%, to $471 billion, reflecting client flight to safety Three months ended • Average loans and leases declined $4 billion, or 1%, ($ in billions) 9/30/2020 6/30/2020 9/30/2019 to $373 billion, driven by client paydowns Average deposits $471.3 $493.9 $360.5 • Total corporation investment banking fees increased Average loans and leases 373.1 423.6 377.1 15%, to $1.8 billion (excl. self-led), driven by strong Total Corp. IB fees (excl. self- 1.8 2.2 1.5 equity performance, up 116% led)2 Global Banking IB fees2 1.0 1.2 0.9 1 Digital Usage Continued to Grow Business Lending revenue 1.8 1.9 2.1 • ~500,000 CashPro® Online users (digital banking Global Transaction Services 1.6 1.8 2.1 platform) across commercial, corporate and revenue business banking businesses Efficiency ratio 52 % 44 % 43 % • CashPro Mobile active users increased 39% and Return on average allocated 9 7 20 logins increased 54% (rolling 12 months, YoY) capital • CashPro Mobile app payment approvals value is 1 Comparisons are to the year-ago quarter unless noted. $187 billion, volume increased 111% (rolling 12 2 Global Banking and Global Markets share in certain deal economics from investment banking, months, YoY) loan origination activities, and sales and trading activities. 3 Revenue, net of interest expense. • Number of checks deposited via CashPro Mobile app is up 117%, and dollar volume increased 185% Continued Business Leadership (rolling 12 months, YoY) • North America’s Best Bank for Small to medium-sized enterprises • 16 million incoming receivables were digitally (Euromoney, 2020) matched in last 12 months using Intelligent • Best Overall Brand: Middle Market Banking (Greenwich, 2019) Receivables, which uses AI to match payments • North America and Latin America's Best Bank for Transaction Services and accounts receivables (August 2020) (Euromoney, 2020) • Mobile Wallet adoption for commercial cards • 2019 Quality, Share and Excellence Awards for U.S. Large Corporate grew by 67% YoY (August 2020) Banking and Cash Management (Greenwich, 2019) • Relationships with 74% of Global Fortune 500 and 95% of U.S. Fortune 1000 (2020) 5

Global Markets1,2 • Net income increased $9 million to $857 million Financial Results1 – Excluding net DVA, net income increased 10% to Three months ended $945 million4 ($ in millions) 9/30/2020 6/30/2020 9/30/2019 • Revenue of $4.3 billion increased 11%, driven by 2,3 increases in sales and trading, investment banking Total revenue $4,283 $5,350 $3,863 fees, and card income Net DVA4 (116) (261) (15) – Excluding net DVA, revenue increased 13%4 Total revenue $4,399 $5,611 $3,878 (excl. net DVA)2,3,4 • Noninterest expense increased $427 million, or 16%, to $3.1 billion, driven by higher activity-based Provision for credit losses 21 105 0 expenses for both card and trading Noninterest expense 3,104 2,682 2,677 5 • Average VaR of $109 million driven by the inclusion Pretax income 1,158 2,563 1,186 of market volatility from the COVID-19 crisis in the Income tax expense 301 666 338 look-back period Net income $857 $1,897 $848 Business Highlights1,2(C) Net income (excl. net $945 $2,095 $859 DVA)4 • Reported sales and trading revenue of $3.2 billion • Excluding net DVA, sales and trading revenue increased 4% to $3.3 billion(F) Business Highlights1,2(C) – FICC revenue increased 3% to $2.1 billion, driven Three months ended by stronger performance in mortgage and foreign ($ in billions) 9/30/2020 6/30/2020 9/30/2019 exchange products Average total assets $681.0 $663.1 $687.4 – Equities revenue increased 6% to $1.2 billion, driven by increased client activity in Asia Average trading-related 485.3 467.0 498.8 assets Additional Highlights Average loans and leases 72.3 74.1 71.6 2 • 675+ research analysts covering 3,250+ companies, Sales and trading revenue 3.2 4.2 3.2 1,350+ corporate bond issuers across 55+ economies Sales and trading revenue 3.3 4.4 3.2 and 24 industries (excl. net DVA)2(F) Global Markets IB fees2 0.7 0.9 0.6 Efficiency ratio 72 % 50 % 69 % Return on average allocated 9 21 10 capital 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Revenue, net of interest expense. 4 Revenue and net income, excluding net DVA, are non-GAAP financial measures. See endnote F on page 10 for more information. 5 VaR model uses a historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Average VaR was $109MM, $81MM and $34MM for Q3-20, Q2-20 and Q3-19, respectively. Continued Business Leadership • CMBS Bank of the Year (GlobalCapital US Securitization Awards, 2020) • Derivatives House of the Year (Risk Awards 2020) • Equity Derivatives House of the Year (GlobalCapital, 2020) • Derivatives and Interest Rate Derivatives House of the Year (IFR Awards, 2019) • No. 1 Global Research Firm (Institutional Investor, 2019) • No. 1 Global Fixed Income Research Team (Institutional Investor, 2019) • No. 1 Quality Leader in U.S. Fixed Income Overall Trading Quality and No. 1 U.S. Fixed Income Overall Service Quality (Greenwich, 2019) • Quality Leader in Global Foreign Exchange Sales and Corporate FX Sales (Greenwich, 2019) • Share Leader in U.S. Fixed Income Market Share (Greenwich, 2019) • No. 1 Municipal Bonds Underwriter (Refinitiv, 2020) 6

All Other1 1 • Net income of $297 million, compared to a loss of Financial Results $1.6 billion Three months ended – Q3-19 included Merchant Services impairment ($ in millions) 9/30/2020 6/30/2020 9/30/2019 charge of $2.1 billion (pretax) related to the Total revenue2 $(935) $(264) $(748) notice of termination of the merchant services joint venture Provision for credit losses (18) (21) (295) • Q3-20 total corporation effective tax rate includes Noninterest expense 560 307 2,460 a positive $700 million tax adjustment to increase Pretax loss (1,477) (550) (2,913) the carrying value of U.K. deferred tax assets, Income tax expense (benefit) (1,774) (765) (1,320) driven by enactment of U.K. tax rate change in the quarter, and reflects a partial reversal of amounts Net income (loss) $297 $215 $(1,593) written down in prior years 1 Comparisons are to the year-ago quarter unless noted. 2 • Total corporate litigation expense increased $284 Revenue, net of interest expense. million to $636 million Note: All Other consists of asset and liability management (ALM) activities, equity investments, non-core mortgage loans and servicing activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass certain residential mortgages, debt securities, and interest rate and foreign currency risk management activities. Substantially all of the results of ALM activities are allocated to our business segments. 7

Credit Quality Charge-offs Highlights1 • Total net charge-offs decreased $174 million, or Three months ended 15%, from Q2-20 to $972 million ($ in millions) 9/30/2020 6/30/2020 9/30/2019 – Consumer net charge-offs decreased $170 million from the prior quarter to $564 million, Provision for credit losses $1,389 $5,117 $779 aided by benefits of deferrals and government Net charge-offs 972 1,146 811 stimulus 2 – Commercial net charge-offs relatively flat Net charge-off ratio 0.40 % 0.45 % 0.34 % from the prior quarter at $408 million At period-end • Net charge-off ratio decreased 5 basis points Nonperforming loans and $4,550 $4,393 $3,476 from the prior quarter to 0.40% leases Provision for credit losses Nonperforming loan and 0.48 % 0.44 % 0.36 % • Provision expense decreased $3.7 billion from the leases ratio prior quarter to $1.4 billion; net reserve build(H) of Allowance for loan and lease $19,596 $19,389 $9,433 $417 million in Q3-20 losses – Commercial reserve build of $686 million, Allowance for loan and lease 2.07 % 1.96 % 0.98 % driven by COVID-19 impacted industries such losses ratio3 as travel and entertainment 1 Comparisons are to the year-ago quarter unless noted. 2 Net charge-off ratio is calculated as annualized net charge-offs divided by average – Consumer reserve release of $269 million due outstanding loans and leases during the period. 3 to improving macroeconomic environment and Allowance for loan and lease losses ratio is calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period. lower credit card balances 4 The Company’s adoption of the new CECL accounting standard effective January 1, 2020 measures the allowance based on management’s best estimate of lifetime expected credit 4 losses inherent in the Company’s lending activities. Prior periods presented reflect Allowance for credit losses measurement of the allowance based on management’s estimate of probable incurred credit • Allowance for credit losses, including unfunded losses. commitments, increased 2% from the prior quarter to $21.5 billion, driven by a net reserve Note: Ratios do not include loans accounted for under the fair value option. build of $417 million – Allowance for loan and lease losses increased $207 million, or 1%, from the prior quarter to $19.6 billion, representing 2.07% of total loans and leases • Nonperforming loans (NPLs) increased $157 million from Q2-20 to $4.6 billion, driven by consumer real estate due to expired deferrals • Commercial reservable criticized utilized exposure increased $9.8 billion from the prior quarter to $35.7 billion – Largest increases included Hotels and Airlines See page 10 for endnotes. 8

Balance Sheet, Liquidity and Capital Highlights ($ in billions except per share data, end of period, unless otherwise noted)(A)(B)(C) Three months ended 9/30/2020 6/30/2020 9/30/2019 Ending Balance Sheet Total assets $2,738.5 $2,741.7 $2,426.3 Total loans and leases 955.2 998.9 972.9 Total loans and leases in business segments (excluding All Other) 932.1 973.8 933.2 Total deposits 1,702.9 1,718.7 1,392.8 Average Balance Sheet Average total assets $2,739.7 $2,704.2 $2,412.2 Average loans and leases 974.0 1,031.4 964.7 Average deposits 1,695.5 1,658.2 1,375.1 Funding and Liquidity Long-term debt $255.7 $261.6 $243.4 Global Liquidity Sources, average(B) 859 796 552 Equity Common shareholders’ equity $245.4 $242.2 $244.8 Common equity ratio 9.0 % 8.8 % 10.1 % Tangible common shareholders’ equity1 $175.2 $172.4 $174.9 Tangible common equity ratio1 6.6 % 6.5 % 7.4 % Per Share Data Common shares outstanding (in billions) 8.66 8.66 9.08 Book value per common share $28.33 $27.96 $26.96 Tangible book value per common share1 20.23 19.90 19.26 Regulatory Capital(A) CET1 capital $173.2 $171.0 $169.2 Standardized approach Risk-weighted assets $1,459 $1,475 $1,484 CET1 ratio 11.9 % 11.6 % 11.4 % Advanced approaches Risk-weighted assets $1,363 $1,504 $1,440 CET1 ratio 12.7 % 11.4 % 11.7 % Supplementary leverage Supplementary leverage ratio (SLR) 6.9 % 7.1 % 6.6 % 1 Represents a non-GAAP financial measure. For reconciliation, see page 18 of this press release. 9

Endnotes A Regulatory capital ratios at September 30, 2020 are preliminary. The Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which for Common equity tier 1 (CET1) is the Standardized approach for both quarters ended September 30, 2020 and 2019 and the Advanced approaches for the quarter ended June 30, 2020. Supplementary leverage exposure at both September 30, 2020 and June 30, 2020 excludes U.S. Treasury Securities and deposits at Federal Reserve Banks. B Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, inclusive of U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and other investment-grade securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity among legal entities may be subject to certain regulatory and other restrictions. C We present certain key financial and nonfinancial performance indicators (KPIs) that management uses when assessing consolidated and/or segment results. We believe this information is useful because it provides management and investors with information about underlying operational performance and trends. KPIs are presented in Balance Sheet, Liquidity and Capital Highlights and on the Segment pages for each segment. D We also measure net interest income on an FTE basis, which is a non-GAAP financial measure. FTE basis is a performance measure used in operating the business that management believes provides investors a more accurate picture of the interest margin for comparative purposes. We believe that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practice. Net interest income on an FTE basis was $10.2 billion, $11.0 billion and $12.3 billion for the three months ended September 30, 2020, June 30, 2020 and September 30, 2019, respectively. The FTE adjustment was $114 million, $128 million and $148 million for the three months ended September 30, 2020, June 30, 2020 and September 30, 2019, respectively. E Source: Dealogic as of October 1, 2020. F Global Markets revenue and net income, excluding net debit valuation adjustments (DVA), and sales and trading revenue, excluding net DVA, are non- GAAP financial measures. Net DVA (losses) were $(116) million, $(261) million and $(15) million for the three months ended September 30, 2020, June 30, 2020 and September 30, 2019, respectively. FICC net DVA (losses) were $(107) million, $(245) million and $(18) million for the three months ended September 30, 2020, June 30, 2020 and September 30, 2019, respectively. Equities net DVA gains (losses) were $(9) million, $(16) million and $3 million for the three months ended September 30, 2020, June 30, 2020 and September 30, 2019, respectively. G Pretax, pre-provision income (PTPI) at the consolidated level is a non-GAAP financial measure calculated by adjusting consolidated pretax income to add back provision for credit losses. Similarly, PTPI at the segment level is a non-GAAP financial measure calculated by adjusting the segments' pretax income to add back the provision for credit losses. Management believes that PTPI (both at the consolidated and segment level) is a useful financial measure as it enables an assessment of the Company’s ability to generate earnings to cover credit losses through a credit cycle and provides an additional basis for comparing the Company's results of operations between periods by isolating the impact of provision for credit losses, which can vary significantly between periods. For Reconciliations to GAAP financial measures, see below for segments and page 18 for total company. (Dollars in millions) Third Quarter 2020 Consumer Global Global Banking GWIM Banking Markets All Other Pretax income $ 2,718 $ 992 $ 1,269 $ 1,158 $ (1,477) Provision for credit losses 479 24 883 21 (18) Pretax, pre-provision income $ 3,197 $ 1,016 $ 2,152 $ 1,179 $ (1,495) Second Quarter 2020 Consumer Global Global Banking GWIM Banking Markets All Other Pretax income $ 94 $ 826 $ 994 $ 2,563 $ (550) Provision for credit losses 3,024 136 1,873 105 (21) Pretax, pre-provision income $ 3,118 $ 962 $ 2,867 $ 2,668 $ (571) Third Quarter 2019 Consumer Global Global Banking GWIM Banking Markets All Other Pretax income $ 4,408 $ 1,453 $ 2,873 $ 1,186 $ (2,913) Provision for credit losses 917 37 120 — (295) Pretax, pre-provision income $ 5,325 $ 1,490 $ 2,993 $ 1,186 $ (3,208) H Reserve Build (or Release) is calculated by subtracting net charge-offs for the period from the provision for credit losses recognized in that period. The period-end allowance, or reserve, for credit losses reflects the beginning of the period allowance adjusted for net charge-offs recorded in that period plus the provision for credit losses recognized in that period. 10

Contact Information and Investor Conference Call Invitation Investor Call Note: Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss third- Information quarter 2020 financial results in a conference call at 8:30 a.m. ET today. The presentation and supporting materials can be accessed on the Bank of America Investor Relations website at http://investor.bankofamerica.com. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international). The conference ID is 79795. Please dial in 10 minutes prior to the start of the call. Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from October 14 through October 23. Investors May Contact: Reporters May Contact: Lee McEntire, Bank of America, 1.980.388.6780 Jerry Dubrowski, Bank of America, 1.646.855.1195 (office) or lee.mcentire@bofa.com 1.508.843.5626 (mobile) jerome.f.dubrowski@bofa.com Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112 jonathan.blum@bofa.com Bank of America Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,900 lending centers, 2,500 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,300 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry- leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. Forward-Looking Statements Bank of America Corporation (the “Company”) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Company’s current expectations, plans or forecasts of its future results, revenues, expenses, efficiency ratio, capital measures, strategy, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Company’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. 11

You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of the Company’s 2019 Annual Report on Form 10-K and in any of the Company’s subsequent Securities and Exchange Commission filings: the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions, including as a result of our participation in and execution of government programs related to the Coronavirus Disease 2019 (COVID-19) pandemic; the possibility that the Company’s future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation, regulatory, and representations and warranties exposures; the possibility that the Company could face increased servicing, fraud, indemnity, contribution or other claims from one or more counterparties, including trustees, purchasers of loans, underwriters, issuers, monolines, private-label and other investors, or other parties involved in securitizations; the Company’s ability to resolve representations and warranties repurchase and related claims, including claims brought by investors or trustees seeking to avoid the statute of limitations for repurchase claims; the risks related to the discontinuation of the London InterBank Offered Rate and other reference rates, including increased expenses and litigation and the effectiveness of hedging strategies; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Company’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, inflation, currency exchange rates, economic conditions, trade policies and tensions, including tariffs, and potential geopolitical instability; the impact of the interest rate environment on the Company’s business, financial condition and results of operations; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties; the Company’s ability to achieve its expense targets and expectations regarding revenue, net interest income, provision for credit losses, net charge-offs, effective tax rate, loan growth or other projections; adverse changes to the Company’s credit ratings from the major credit rating agencies; an inability to access capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of the Company’s assets and liabilities; the estimated or actual impact of changes in accounting standards or assumptions in applying those standards; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements; the impact of adverse changes to total loss-absorbing capacity requirements, stress capital buffer requirements and/or global systemically important bank surcharges; the potential impact of actions of the Board of Governors of the Federal Reserve System on the Company’s capital plans; the effect of regulations, other guidance or additional information on the impact from the Tax Cuts and Jobs Act; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including, but not limited to, recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, the Volcker Rule, fiduciary standards, derivatives regulations and the Coronavirus Aid, Relief, and Economic Security Act and any similar or related rules and regulations; a failure or disruption in or breach of the Company’s operational or security systems or infrastructure, or those of third parties, including as a result of cyber-attacks or campaigns; the impact on the Company’s business, financial condition and results of operations from the United Kingdom's exit from the European Union; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes to the U.S. presidential administration and Congress; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the U.S. and/or global economy, financial market conditions and our business, results of operations and financial condition; the impact of natural disasters, military conflict, terrorism or other geopolitical events; and other matters. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”) or other affiliates, including, in the United States, BofA Securities, Inc., Merrill Lynch Professional Clearing Corp. and Merrill Lynch, Pierce, Fenner & Smith, each of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates:  Are Not FDIC Insured · May Lose Value · Are Not Bank Guaranteed. Bank of America Corporation’s broker-dealers are not banks and are separate legal entities from their bank affiliates. The obligations of the broker-dealers are not obligations of their bank affiliates (unless explicitly stated otherwise), and these bank affiliates are not responsible for securities sold, offered, or recommended by the broker-dealers. The foregoing also applies to other non-bank affiliates. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom at https://newsroom.bankofamerica.com. 12 www.bankofamerica.com

13 Bank of America Corporation and Subsidiaries Selected Financial Data (In millions, except per share data) Nine Months Ended Third Second Third September 30 Quarter Quarter Quarter Summary Income Statement 2020 2019 2020 2020 2019 Net interest income $ 33,107 $ 36,751 $ 10,129 $ 10,848 $ 12,187 Noninterest income 32,322 32,144 10,207 11,478 10,620 Total revenue, net of interest expense 65,429 68,895 20,336 22,326 22,807 Provision for credit losses 11,267 2,649 1,389 5,117 779 Noninterest expense 41,286 41,661 14,401 13,410 15,169 Income before income taxes 12,876 24,585 4,546 3,799 6,859 Income tax expense 452 4,149 (335) 266 1,082 Net income $ 12,424 $ 20,436 $ 4,881 $ 3,533 $ 5,777 Preferred stock dividends 1,159 1,186 441 249 505 Net income applicable to common shareholders $ 11,265 $ 19,250 $ 4,440 $ 3,284 $ 5,272 Average common shares issued and outstanding 8,762.6 9,516.2 8,732.9 8,739.9 9,303.6 Average diluted common shares issued and outstanding 8,800.5 9,565.7 8,777.5 8,768.1 9,353.0 Summary Average Balance Sheet Total debt securities $ 491,664 $ 445,104 $ 533,261 $ 476,060 $ 447,126 Total loans and leases 998,473 953,169 974,018 1,031,387 964,733 Total earning assets 2,284,909 2,024,687 2,374,926 2,358,782 2,038,720 Total assets 2,646,607 2,390,943 2,739,684 2,704,186 2,412,223 Total deposits 1,598,031 1,370,178 1,695,488 1,658,197 1,375,052 Common shareholders’ equity 242,626 245,329 243,896 242,889 246,630 Total shareholders’ equity 266,062 268,223 267,323 266,316 270,430 Performance Ratios Return on average assets 0.63 % 1.14 % 0.71 % 0.53 % 0.95 % Return on average common shareholders’ equity 6.20 10.49 7.24 5.44 8.48 Return on average tangible common shareholders’ equity (1) 8.71 14.67 10.16 7.63 11.84 Per Common Share Information Earnings $ 1.29 $ 2.02 $ 0.51 $ 0.38 $ 0.57 Diluted earnings 1.28 2.01 0.51 0.37 0.56 Dividends paid 0.54 0.48 0.18 0.18 0.18 Book value 28.33 26.96 28.33 27.96 26.96 Tangible book value (1) 20.23 19.26 20.23 19.90 19.26 September 30 June 30 September 30 Summary Period-End Balance Sheet 2020 2020 2019 Total debt securities $ 584,397 $ 471,861 $ 444,594 Total loans and leases 955,172 998,944 972,910 Total earning assets 2,360,146 2,391,043 2,051,511 Total assets 2,738,452 2,741,688 2,426,330 Total deposits 1,702,880 1,718,666 1,392,836 Common shareholders’ equity 245,423 242,210 244,781 Total shareholders’ equity 268,850 265,637 268,387 Common shares issued and outstanding 8,661.5 8,664.1 9,079.3 Nine Months Ended Third Second Third September 30 Quarter Quarter Quarter Credit Quality 2020 2019 2020 2020 2019 Total net charge-offs $ 3,240 $ 2,689 $ 972 $ 1,146 $ 811 Net charge-offs as a percentage of average loans and leases outstanding (2) 0.44 % 0.38 % 0.40 % 0.45 % 0.34 % Provision for credit losses $ 11,267 $ 2,649 $ 1,389 $ 5,117 $ 779 September 30 June 30 September 30 2020 2020 2019 Total nonperforming loans, leases and foreclosed properties (3) $ 4,730 $ 4,611 $ 3,723 Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties (3) 0.50 % 0.47 % 0.39 % Allowance for loan and lease losses $ 19,596 $ 19,389 $ 9,433 Allowance for loan and lease losses as a percentage of total loans and leases outstanding (2) 2.07 % 1.96 % 0.98 % For footnotes, see page 14. Current period information is preliminary and based on company data available at the time of the presentation.

14 Bank of America Corporation and Subsidiaries Selected Financial Data (continued) (Dollars in millions) Capital Management     September 30 June 30 September 30     2020 2020 2019 Regulatory capital metrics (4): Common equity tier 1 capital $ 173,213 $ 171,020 $ 169,203 Common equity tier 1 capital ratio - Standardized approach 11.9 % 11.6 % 11.4 % Common equity tier 1 capital ratio - Advanced approaches 12.7 11.4 11.7 Tier 1 leverage ratio 7.4 7.4 8.2 Tangible equity ratio (5) 7.4 7.3 8.4 Tangible common equity ratio (5) 6.6 6.5 7.4 (1) Return on average tangible common shareholders’ equity and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. See Reconciliations to GAAP Financial Measures on page 18. (2) Ratios do not include loans accounted for under the fair value option. Charge-off ratios are annualized for the quarterly presentation. (3) Balances do not include past due consumer credit card loans, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully insured home loans), and in general, other consumer and commercial loans not secured by real estate, and nonperforming loans held for sale or accounted for under the fair value option. (4) Regulatory capital ratios at September 30, 2020 are preliminary. Bank of America Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which for Common equity tier 1 (CET1) is the Standardized approach for both quarters ended September 30, 2020 and 2019 and the Advanced approaches for the quarter ended June 30, 2020. (5) Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. See Reconciliations to GAAP Financial Measures on page 18. Current period information is preliminary and based on company data available at the time of the presentation.

15 Bank of America Corporation and Subsidiaries Quarterly Results by Business Segment and All Other (Dollars in millions)   Third Quarter 2020 Consumer Global Global All Banking GWIM Banking Markets Other Total revenue, net of interest expense $ 8,039 $ 4,546 $ 4,517 $ 4,283 $ (935) Provision for credit losses 479 24 883 21 (18) Noninterest expense 4,842 3,530 2,365 3,104 560 Net income 2,052 749 926 857 297 Return on average allocated capital (1) 21 % 20 % 9 % 9 % n/m Balance Sheet Average Total loans and leases $ 318,751 $ 185,587 $ 373,118 $ 72,319 $ 24,243 Total deposits 860,999 291,845 471,288 56,475 14,881 Allocated capital (1) 38,500 15,000 42,500 36,000 n/m Quarter end Total loans and leases $ 312,447 $ 187,211 $ 356,919 $ 75,475 $ 23,120 Total deposits 872,022 295,893 465,399 56,727 12,839   Second Quarter 2020 Consumer Global Global All   Banking GWIM Banking Markets Other Total revenue, net of interest expense $ 7,852 $ 4,425 $ 5,091 $ 5,350 $ (264) Provision for credit losses 3,024 136 1,873 105 (21) Noninterest expense 4,734 3,463 2,224 2,682 307 Net income (loss) 71 624 726 1,897 215 Return on average allocated capital (1) 1 % 17 % 7 % 21 % n/m Balance Sheet Average Total loans and leases $ 321,558 $ 182,150 $ 423,625 $ 74,131 $ 29,923 Total deposits 810,700 287,109 493,918 45,083 21,387 Allocated capital (1) 38,500 15,000 42,500 36,000 n/m Quarter end Total loans and leases $ 325,105 $ 184,293 $ 390,108 $ 74,342 $ 25,096 Total deposits 854,017 291,740 500,918 52,842 19,149   Third Quarter 2019 Consumer Global Global All   Banking GWIM Banking Markets Other Total revenue, net of interest expense $ 9,724 $ 4,904 $ 5,212 $ 3,863 $ (748) Provision for credit losses 917 37 120 — (295) Noninterest expense 4,399 3,414 2,219 2,677 2,460 Net income 3,328 1,097 2,097 848 (1,593) Return on average allocated capital (1) 36 % 30 % 20 % 10 % n/m Balance Sheet Average Total loans and leases $ 303,832 $ 170,414 $ 377,109 $ 71,589 $ 41,789 Total deposits 709,339 254,460 360,457 30,155 20,641 Allocated capital (1) 37,000 14,500 41,000 35,000 n/m Quarter end Total loans and leases $ 307,925 $ 172,677 $ 377,658 $ 74,979 $ 39,671 Total deposits 715,778 252,478 371,887 30,885 21,808 (1) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently. n/m = not meaningful Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation. The Company reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Current period information is preliminary and based on company data available at the time of the presentation.

16 Bank of America Corporation and Subsidiaries Year-to-Date Results by Business Segment and All Other (Dollars in millions)   Nine Months Ended September 30, 2020 Consumer Global Global All   Banking GWIM Banking Markets Other Total revenue, net of interest expense $ 25,020 $ 13,907 $ 14,208 $ 14,859 $ (2,179) Provision for credit losses 5,761 349 4,849 233 75 Noninterest expense 14,071 10,593 6,910 8,598 1,114 Net income (loss) 3,917 2,239 1,788 4,461 19 Return on average allocated capital (1) 14 % 20 % 6 % 17 % n/m Balance Sheet Average Total loans and leases $ 319,084 $ 182,138 $ 394,331 $ 72,702 $ 30,218 Total deposits 803,002 280,828 449,273 45,002 19,926 Allocated capital (1) 38,500 15,000 42,500 36,000 n/m Period end Total loans and leases $ 312,447 $ 187,211 $ 356,919 $ 75,475 $ 23,120 Total deposits 872,022 295,893 465,399 56,727 12,839   Nine Months Ended September 30, 2019 Consumer Global Global All   Banking GWIM Banking Markets Other Total revenue, net of interest expense $ 29,073 $ 14,625 $ 15,342 $ 12,189 $ (1,884) Provision for credit losses 2,838 63 356 (18) (590) Noninterest expense 13,178 10,302 6,697 8,109 3,375 Net income (loss) 9,858 3,216 6,051 2,930 (1,619) Return on average allocated capital (1) 36 % 30 % 20 % 11 % n/m Balance Sheet Average Total loans and leases $ 297,538 $ 167,069 $ 373,275 $ 70,757 $ 44,530 Total deposits 704,522 256,720 357,413 30,878 20,645 Allocated capital (1) 37,000 14,500 41,000 35,000 n/m Period end Total loans and leases $ 307,925 $ 172,677 $ 377,658 $ 74,979 $ 39,671 Total deposits 715,778 252,478 371,887 30,885 21,808 (1) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently. n/m = not meaningful Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation. Current period information is preliminary and based on company data available at the time of the presentation.

17 Bank of America Corporation and Subsidiaries Supplemental Financial Data (Dollars in millions) Nine Months Ended Third Second Third September 30 Quarter Quarter Quarter FTE basis data (1) 2020 2019 2020 2020 2019 Net interest income $ 33,493 $ 37,201 $ 10,243 $ 10,976 $ 12,335 Total revenue, net of interest expense 65,815 69,345 20,450 22,454 22,955 Net interest yield 1.96 % 2.45 % 1.72 % 1.87 % 2.41 % Efficiency ratio 62.73 60.08 70.42 59.72 66.08 September 30 June 30 September 30 Other Data     2020 2020 2019 Number of financial centers - U.S. 4,309 4,298 4,302 Number of branded ATMs - U.S. 16,962 16,862 16,626 Headcount 211,225 212,796 208,561 (1) FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. Net interest income includes FTE adjustments of $386 million and $450 million for the nine months ended September 30, 2020 and 2019, respectively; $114 million and $128 million for the third and second quarters of 2020, respectively, and $148 million for the third quarter of 2019. Certain prior-period amounts have been reclassified to conform to current-period presentation. Current period information is preliminary and based on company data available at the time of the presentation.

18 Bank of America Corporation and Subsidiaries Reconciliations to GAAP Financial Measures (Dollars in millions, except per share information) The Corporation evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders’ equity or common shareholders’ equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders’ equity measures the Corporation’s net income applicable to common shareholders as a percentage of adjusted average common shareholders’ equity. The tangible common equity ratio represents adjusted ending common shareholders’ equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s net income as a percentage of adjusted average total shareholders’ equity. The tangible equity ratio represents adjusted ending shareholders’ equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents adjusted ending common shareholders’ equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals. See the tables below for reconciliations of these non-GAAP financial measures to the most closely related financial measures defined by GAAP for the nine months ended September 30, 2020 and 2019 and the three months ended September 30, 2020, J une 30, 2020 and S eptember 30, 2019. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate supplemental financial data differently. Nine Months Ended Third Second Third   September 30 Quarter Quarter Quarter   2020 2019 2020 2020 2019 Reconciliation of income before income taxes to pretax, pre-provision income Income before income taxes $ 12,876 $ 24,585 $ 4,546 $ 3,799 $ 6,859 Provision for credit losses 11,267 2,649 1,389 5,117 779 Pretax, pre-provision income $ 24,143 $ 27,234 $ 5,935 $ 8,916 $ 7,638 Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity Shareholders’ equity $ 266,062 $ 268,223 $ 267,323 $ 266,316 $ 270,430 Goodwill (68,951) (68,951) (68,951) (68,951) (68,951) Intangible assets (excluding mortgage servicing rights) (1,758) (1,735) (1,976) (1,640) (1,707) Related deferred tax liabilities 791 787 855 790 752 Tangible shareholders’ equity $ 196,144 $ 198,324 $ 197,251 $ 196,515 $ 200,524 Preferred stock (23,437) (22,894) (23,427) (23,427) (23,800) Tangible common shareholders’ equity $ 172,707 $ 175,430 $ 173,824 $ 173,088 $ 176,724 Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity Shareholders’ equity $ 268,850 $ 268,387 $ 268,850 $ 265,637 $ 268,387 Goodwill (68,951) (68,951) (68,951) (68,951) (68,951) Intangible assets (excluding mortgage servicing rights) (2,185) (1,690) (2,185) (1,630) (1,690) Related deferred tax liabilities 910 734 910 789 734 Tangible shareholders’ equity $ 198,624 $ 198,480 $ 198,624 $ 195,845 $ 198,480 Preferred stock (23,427) (23,606) (23,427) (23,427) (23,606) Tangible common shareholders’ equity $ 175,197 $ 174,874 $ 175,197 $ 172,418 $ 174,874 Reconciliation of period-end assets to period-end tangible assets Assets $ 2,738,452 $ 2,426,330 $ 2,738,452 $ 2,741,688 $ 2,426,330 Goodwill (68,951) (68,951) (68,951) (68,951) (68,951) Intangible assets (excluding mortgage servicing rights) (2,185) (1,690) (2,185) (1,630) (1,690) Related deferred tax liabilities 910 734 910 789 734 Tangible assets $ 2,668,226 $ 2,356,423 $ 2,668,226 $ 2,671,896 $ 2,356,423 Book value per share of common stock Common shareholders’ equity $ 245,423 $ 244,781 $ 245,423 $ 242,210 $ 244,781 Ending common shares issued and outstanding 8,661.5 9,079.3 8,661.5 8,664.1 9,079.3 Book value per share of common stock $ 28.33 $ 26.96 $ 28.33 $ 27.96 $ 26.96 Tangible book value per share of common stock Tangible common shareholders’ equity $ 175,197 $ 174,874 $ 175,197 $ 172,418 $ 174,874 Ending common shares issued and outstanding 8,661.5 9,079.3 8,661.5 8,664.1 9,079.3 Tangible book value per share of common stock $ 20.23 $ 19.26 $ 20.23 $ 19.90 $ 19.26 Certain prior-period amounts have been reclassified to conform to current-period presentation. Current period information is preliminary and based on company data available at the time of the presentation.