How did JPMorgan Chase’s book value and tangible book value per share change?

Book value per share rose to $128.38 at March 31, 2026, from $119.24 a year earlier. Tangible book value per share increased to $108.87 from $100.36, with both metrics up 8% year over year, reflecting retained earnings after dividends and share repurchases.

JPMorgan Chase (NYSE: JPM) Q1 2026 net income hits $16.5B

Q: What were JPMorgan Chase’s revenue and earnings trends versus Q1 2025?

In Q1 2026, JPMorgan Chase’s managed net revenue rose to $50.5 billion , a 10% increase from Q1 2025. Net income increased from $14.6 billion to $16.5 billion , while diluted EPS grew from $5.07 to $5.94 , highlighting broad-based profit expansion.

Q: How profitable were JPMorgan Chase’s major business segments in Q1 2026?

Consumer & Community Banking generated $5.0 billion of net income and 32% ROE. The Commercial & Investment Bank delivered $9.0 billion and 21% ROE. Asset & Wealth Management earned $1.8 billion , with assets under management of $4.8 trillion , up 16% year over year.

Q: What were JPMorgan Chase’s credit costs and reserve actions in Q1 2026?

Credit costs totaled $2.5 billion in Q1 2026, including $2.3 billion of net charge-offs and a $191 million net reserve build. A year earlier, credit costs were $3.3 billion with a $973 million net reserve build, indicating a lower overall provisioning burden this quarter.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

JPMorgan Chase & Co. reported strong first‑quarter 2026 results, with net income of $16.5 billion and diluted EPS of $5.94, up from $14.6 billion and $5.07 a year earlier. Managed net revenue rose to $50.5 billion, a 10% increase, driven by higher net interest income and double‑digit growth in noninterest revenue.

Consumer & Community Banking earned $5.0 billion of net income with 32% ROE, while the Commercial & Investment Bank delivered $9.0 billion and 21% ROE on strong Markets and investment banking fees. Asset & Wealth Management net income grew 12% as assets under management reached $4.8 trillion. Credit costs were $2.5 billion with $2.3 billion of net charge‑offs and a $191 million net reserve build.

The firm returned substantial capital, paying $1.50 per share in common dividends, totaling $4.1 billion, and completing $8.3 billion of net share repurchases. Book value per share increased to $128.38 and tangible book value per share to $108.87, both up 8% year over year, while the Basel III CET1 Standardized ratio stood at 14.3%.

Insights

JPMorgan Chase posted broad-based Q1 2026 growth with strong profitability and capital.

JPMorgan Chase delivered net income of $16.5 billion and diluted EPS of $5.94 in Q1 2026, up 13% and 17% year over year. Managed net revenue grew 10% to $50.5 billion, supported by higher net interest income and robust fee revenue across businesses.

Consumer & Community Banking earned $5.0 billion with 32% ROE, while the Commercial & Investment Bank generated $9.0 billion and 21% ROE on 19% higher net revenue, including 28% higher investment banking fees and 20% higher Markets revenue. Asset & Wealth Management added $1.8 billion of net income as AUM rose 16% to $4.8 trillion.

Credit costs were contained at $2.5 billion, down from $3.3 billion a year earlier, with a modest $191 million net reserve build. Capital and liquidity remained strong, with a CET1 Standardized ratio of 14.3%, a supplementary leverage ratio of 5.6%, and book value per share up 8% year over year.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $16.5 billion Diluted EPS: $5.94 Managed net revenue: $50.5 billion +5 more

8 metrics

Net income $16.5 billion Q1 2026, up 13% vs Q1 2025

Diluted EPS $5.94 Q1 2026, up from $5.07 in Q1 2025

Managed net revenue $50.5 billion Q1 2026, 10% year-over-year growth

CCB net income $5.0 billion Consumer & Community Banking, Q1 2026

CIB net income $9.0 billion Commercial & Investment Bank, Q1 2026

AUM $4.8 trillion Assets under management, up 16% year over year

Common dividend per share $1.50 Q1 2026 cash dividend on common stock

CET1 Standardized ratio 14.3% Basel III CET1 capital ratio as of March 31, 2026

Key Terms

managed basis, tangible book value per share, Basel III common equity Tier 1 capital, supplementary leverage ratio, +2 more

6 terms

managed basis financial

"information is presented on a managed basis, which is a non-GAAP financial measure"

Basel III common equity Tier 1 capital regulatory

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

supplementary leverage ratio regulatory

"Firm supplementary leverage ratio of 5.6%"

provision for credit losses financial

"The provision for credit losses was $2.5 billion."

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

non-GAAP financial measures financial

"these Firmwide managed basis results are non-GAAP financial measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Earnings Snapshot

Managed net revenue: $50.5 billion

Q1 2026

Managed net revenue $50.5 billion +10% YoY

Net income $16.5 billion +13% YoY

Diluted EPS $5.94 +17% YoY

CCB net income $5.0 billion +12% YoY

CIB net income $9.0 billion +30% YoY

Understanding 8-K Material Events →

04/14/2026 - 06:32 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): April 14, 2026

JPMorgan Chase & Co.

(Exact name of registrant as specified in its charter)

Delaware

1-5805

13-2624428

(State or other jurisdiction of
incorporation or organization)

(Commission File Number)

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

270 Park Avenue,

New York,

New York

10017

(Address of principal executive offices)

(Zip Code)

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

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


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


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


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


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

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


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	JPM	The New York Stock Exchange
Depositary Shares, each representing a one-four hundredth interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD	JPM PR D	The New York Stock Exchange
Depositary Shares, each representing a one-four hundredth interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE	JPM PR C	The New York Stock Exchange
Depositary Shares, each representing a one-four hundredth interest in a share of 4.75% Non-Cumulative Preferred Stock, Series GG	JPM PR J	The New York Stock Exchange
Depositary Shares, each representing a one-four hundredth interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ	JPM PR K	The New York Stock Exchange
Depositary Shares, each representing a one-four hundredth interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL	JPM PR L	The New York Stock Exchange
Depositary Shares, each representing a one-four hundredth interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM	JPM PR M	The New York Stock Exchange
Guarantee of Callable Fixed Rate Notes due June 10, 2032 of JPMorgan Chase Financial Company LLC	JPM/32	The New York Stock Exchange
Guarantee of Alerian MLP Index ETNs due January 28, 2044 of JPMorgan Chase Financial Company LLC	AMJB	NYSE Arca, Inc.
Guarantee of Inverse VIX Short-Term Futures ETNs due March 22, 2045 of JPMorgan Chase Financial Company LLC	VYLD	NYSE Arca, Inc.

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

Emerging growth company ☐

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

Item 2.02 Results of Operations and Financial Condition

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

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

This Current Report on Form 8-K (including the Exhibits hereto) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorganChase’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorganChase’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorganChase’s Annual Report on Form 10-K for the year ended December 31, 2025, which has been filed with the Securities and Exchange Commission and is available on JPMorganChase’s website (https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview) and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorganChase does not undertake to update any forward-looking statements.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits



Exhibit No.						Description of Exhibit

99.1						JPMorgan Chase & Co. Earnings Release - First Quarter 2026 Results
99.2						JPMorgan Chase & Co. Earnings Release Financial Supplement - First Quarter 2026
101						Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language).
104						Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101).

SIGNATURE

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


JPMorgan Chase & Co.
(Registrant)


By:			/s/ Elena Korablina
			Elena Korablina
			Managing Director and Firmwide Controller
			(Principal Accounting Officer)


Dated:			April 14, 2026

Exhibit 99.1


JPMorgan Chase & Co. 270 Park Avenue, New York, NY 10017-2070 NYSE symbol: JPM www.jpmorganchase.com

JPMORGANCHASE REPORTS FIRST-QUARTER 2026 NET INCOME OF $16.5 BILLION ($5.94 PER SHARE)

FIRST-QUARTER 2026 RESULTS 1

ROE 19%

ROTCE2 23%

CET1 Capital Ratios3

Std. 14.3% | Adv. 14.1%

Total Loss-Absorbing Capacity3 $572B

Std. RWA3 $2.0T

Cash and marketable securities4 $1.5T

Average loans $1.5T


Firmwide Metrics	n	Reported revenue of $49.8 billion and managed revenue of $50.5 billion2
	n	Expense of $26.9 billion; reported overhead ratio of 54% and managed overhead ratio2 of 53%
	n	Credit costs of $2.5 billion with $2.3 billion of net charge-offs and a $191 million net reserve build
	n	Average loans up 11% YoY, up 2% QoQ; average deposits up 7% YoY, up 1% QoQ

CCB ROE 32%	n	Average deposits up 2% YoY and QoQ; client investment assets up 18% YoY
	n	Average loans up 1% YoY and flat QoQ; Card Services net charge-off rate of 3.47%
	n	Debit and credit card sales volume5 up 9% YoY
	n	Active mobile customers6 up 7% YoY

CIB ROE 21%	n	Investment Banking fees up 28% YoY, up 23% QoQ; #1 ranking for Global Investment Banking fees with 9.8% wallet share in 1Q26
	n	Markets revenue up 20% YoY, with Fixed Income Markets up 21% and Equity Markets up 17%
	n	Average Banking & Payments loans up 10% YoY, up 4% QoQ; average client deposits7 up 13% YoY, up 1% QoQ

AWM ROE 44%	n	AUM8 of $4.8 trillion, up 16% YoY
	n	Average loans up 15% YoY, up 3% QoQ; average deposits up 4% YoY, up 3% QoQ


Jamie Dimon, Chairman and CEO, commented: “The Firm delivered strong results in the first quarter, reporting net income of $16.5 billion.” Dimon continued: “Performance was strong across our businesses. In the CIB, revenue grew 19%. Markets revenue reached a record $11.6 billion, while IB fees increased 28% due to stronger advisory and ECM activity. Additionally, Payments continued to deliver very strong results, with double-digit growth in deposits and fees. In CCB, revenue rose 7%. We continued to acquire new customers at a robust rate across the franchise, including achieving record net inflows in self-directed investing and opening more than 450,000 net new checking accounts. Finally, in AWM, revenue increased 11%, and flows remained healthy with $54 billion of long-term AUM net inflows.” Dimon added: “Regarding capital, we were pleased to see that the recent capital re-proposals mitigated the most severe consequences of the 2023 proposals. However, there are still aspects of the proposed rules that need to be addressed. We have ample amounts of capital and liquidity, with $291 billion in CET1 capital, $572 billion in total loss-absorbing capacity and $1.5 trillion in cash and marketable securities. We hope that regulators prioritize well-designed regulation and address these aspects of the proposed rules to allow banks of all sizes to deploy their resources to support the real economy.” Dimon added: "The U.S. economy remained resilient in the quarter, with consumers still earning and spending and businesses still healthy. Several tailwinds are supporting this resiliency, including increased fiscal stimulus, the benefits of deregulation, AI-driven capital investment and the Fed's asset purchases. At the same time, there is an increasingly complex set of risks—such as geopolitical tensions and wars, energy price volatility, trade uncertainty, large global fiscal deficits and elevated asset prices. While we cannot predict how these risks and uncertainties will ultimately play out, they are significant and they reinforce why we prepare the Firm for a wide range of environments.” Dimon concluded: “I want to express my deep gratitude to our employees across the globe for how they work to support our customers and communities every single day.”

CAPITAL DISTRIBUTIONS

n Common dividend of $4.1 billion or $1.50 per share

n $8.1 billion of common stock net repurchases9

n Net payout LTM9,10 of 82%

FORTRESS PRINCIPLES

n Book value per share of $128.38, up 8% YoY; tangible book value per share2 of $108.87, up 8% YoY

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

n Firm supplementary leverage ratio of 5.6%

SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES

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

n $72 billion of credit for consumers

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

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

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


Investor Contact: Mikael Grubb (212) 270-2479			Media Contact: Joseph Evangelisti (212) 270-7438
Note: Totals may not sum due to rounding. 1 Percentage comparisons are for the first quarter of 2026 versus the prior-year first quarter, unless otherwise specified. 2 For notes on non-GAAP financial measures, including managed basis reporting, see page 6. For additional notes, see page 7.

JPMorgan Chase & Co.

News Release

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

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

JPMORGANCHASE (JPM)


Results for JPM										4Q25				1Q25
($ millions, except per share data)	1Q26			4Q25			1Q25			$ O/(U)		O/(U) %		$ O/(U)		O/(U) %

Net revenue - reported	$	49,836		$	45,798		$	45,310		$	4,038	9	%	$	4,526	10	%
Net revenue - managed	50,536			46,767			46,014			3,769		8		4,522		10
Noninterest expense	26,850			23,983			23,597			2,867		12		3,253		14
Provision for credit losses	2,507			4,655			3,305			(2,148)		(46)		(798)		(24)
Net income	$	16,494		$	13,025		$	14,643		$	3,469	27	%	$	1,851	13	%
Earnings per share - diluted	$	5.94		$	4.63		$	5.07		$	1.31	28	%	$	0.87	17	%
Return on common equity	19		%	15		%	18		%
Return on tangible common equity	23			18			21

Discussion of Results:

Net income was $16.5 billion, up 13%.

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

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

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

The provision for credit losses was $2.5 billion. Net charge-offs were $2.3 billion, down $16 million. The net reserve build was $191 million, and included a $327 million net build in Wholesale and a $139 million net release in Consumer. In the prior year, the provision was $3.3 billion, net charge-offs were $2.3 billion and the net reserve build was $973 million.

JPMorgan Chase & Co.

News Release

CONSUMER & COMMUNITY BANKING (CCB)


Results for CCB							4Q25				1Q25
($ millions)	1Q26		4Q25		1Q25		$ O/(U)		O/(U) %		$ O/(U)		O/(U) %
Net revenue	$	19,568	$	19,396	$	18,313	$	172	1	%	$	1,255	7	%
Banking & Wealth Management	10,577		10,870		10,254		(293)		(3)		323		3
Home Lending	1,232		1,249		1,207		(17)		(1)		25		2
Card Services & Auto	7,759		7,277		6,852		482		7		907		13
Noninterest expense	10,979		10,256		9,857		723		7		1,122		11
Provision for credit losses	2,050		4,244		2,629		(2,194)		(52)		(579)		(22)
Net income	$	4,976	$	3,642	$	4,425	$	1,334	37	%	$	551	12	%

Discussion of Results:

Net income was $5.0 billion, up 12%.

Net revenue was $19.6 billion, up 7%. Banking & Wealth Management net revenue was $10.6 billion, up 3%, driven by higher asset management fees in J.P. Morgan Wealth Management and higher deposit-related fees. Home Lending net revenue was $1.2 billion, up 2%, driven by higher production revenue, partially offset by lower net interest income. Card Services & Auto net revenue was $7.8 billion, up 13%, driven by higher Card Services net interest income largely on higher revolving balances, as well as higher auto operating lease income, partially offset by lower card income.

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

The provision for credit losses was $2.1 billion. Net charge-offs were $2.2 billion, up $41 million, primarily driven by Card Services. The net reserve release was $145 million, predominantly driven by improvements in home prices. In the prior year, the provision was $2.6 billion, net charge-offs were $2.2 billion and the net reserve build was $475 million.

JPMorgan Chase & Co.

News Release

COMMERCIAL & INVESTMENT BANK (CIB)


Results for CIB							4Q25				1Q25
($ millions)	1Q26		4Q25		1Q25		$ O/(U)		O/(U) %		$ O/(U)		O/(U) %
Net revenue	$	23,379	$	19,375	$	19,666	$	4,004	21	%	$	3,713	19	%
Banking & Payments	10,425		9,651		8,754		774		8		1,671		19
Markets & Securities Services	12,954		9,724		10,912		3,230		33		2,042		19
Noninterest expense	11,136		9,011		9,842		2,125		24		1,294		13
Provision for credit losses	482		405		705		77		19		(223)		(32)
Net income	$	9,044	$	7,268	$	6,942	$	1,776	24	%	$	2,102	30	%

Discussion of Results:

Net income was $9.0 billion, up 30%.

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

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

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

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

ASSET & WEALTH MANAGEMENT (AWM)


Results for AWM							4Q25				1Q25
($ millions)	1Q26		4Q25		1Q25		$ O/(U)		O/(U) %		$ O/(U)		O/(U) %
Net revenue	$	6,374	$	6,516	$	5,731	$	(142)	(2)	%	$	643	11	%
Noninterest expense	4,167		4,068		3,713		99		2		454		12
Provision for credit losses	(24)		2		(10)		(26)		NM		(14)		(140)
Net income	$	1,775	$	1,808	$	1,583	$	(33)	(2)	%	$	192	12	%

Discussion of Results:

Net income was $1.8 billion, up 12%.

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

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

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

JPMorgan Chase & Co.

News Release

CORPORATE


Results for Corporate							4Q25				1Q25
($ millions)	1Q26		4Q25		1Q25		$ O/(U)		O/(U) %		$ O/(U)		O/(U) %
Net revenue	$	1,215	$	1,480	$	2,304	$	(265)	(18)	%	$	(1,089)	(47)	%
Noninterest expense	568		648		185		(80)		(12)		383		207
Provision for credit losses	(1)		4		(19)		(5)		NM		18		95
Net income	$	699	$	307	$	1,693	$	392	128	%	$	(994)	(59)	%

Discussion of Results:

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

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

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

JPMorgan Chase & Co.

News Release

2. Notes on non-GAAP financial measures:

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

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

c.In addition to reviewing net interest income (“NII”) and noninterest revenue (“NIR”) on a managed basis, management also reviews these metrics excluding Markets, which is composed of Fixed Income Markets and Equity Markets. Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm’s lending, investing (including asset-liability management) and deposit-raising activities, apart from any volatility associated with Markets activities. In addition, management also assesses Markets business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal transactions revenue. Management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the Firm. For a reconciliation of NII and NIR from reported to excluding Markets, refer to page 28 of the Earnings Release Financial Supplement. For additional information on Markets revenue, refer to pages 73-74 of the Firm’s 2025 Form 10-K.

JPMorgan Chase & Co.

News Release

Additional notes:

3.Estimated.

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

5.Excludes Commercial Card.

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

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

8.Assets under management (“AUM”).

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

10.Last twelve months (“LTM”).

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

JPMorgan Chase & Co.

News Release

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.9 trillion in assets and $364 billion in stockholders’ equity as of March 31, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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

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

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31, 2025, which has been filed with the Securities and Exchange Commission and is available on JPMorgan Chase & Co.’s website (https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview), and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements.

Exhibit 99.2

EARNINGS RELEASE FINANCIAL SUPPLEMENT

FIRST QUARTER 2026

JPMORGAN CHASE & CO.

TABLE OF CONTENTS

Page(s)

Consolidated Results

Consolidated Financial Highlights

2–3

Consolidated Statements of Income

Consolidated Balance Sheets

Condensed Average Balance Sheets and Annualized Yields

Reconciliation from Reported to Managed Basis

Segment & Corporate Results - Managed Basis

Capital and Other Selected Balance Sheet Items

9–10

Earnings Per Share and Related Information

Business Segment & Corporate Results

Consumer & Community Banking (“CCB”)

12–15

Commercial & Investment Bank (“CIB”)

16–19

Asset & Wealth Management (“AWM”)

20–22

Corporate

Credit-Related Information

24-27

Non-GAAP Financial Measures

Glossary of Terms and Acronyms (a)

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


JPMORGAN CHASE & CO.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(in millions, except per share and ratio data)


	QUARTERLY TRENDS
																		1Q26 Change
SELECTED INCOME STATEMENT DATA	1Q26				4Q25				3Q25			2Q25			1Q25			4Q25		1Q25
Reported Basis
Total net revenue	$	49,836			$	45,798			$	46,427		$	44,912		$	45,310		9	%	10	%
Total noninterest expense	26,850				23,983				24,281			23,779			23,597			12		14
Pre-provision profit (a)	22,986				21,815				22,146			21,133			21,713			5		6
Provision for credit losses	2,507				4,655			(f)	3,403			2,849			3,305			(46)		(24)
NET INCOME	16,494				13,025				14,393			14,987			14,643			27		13

Managed Basis (b)
Total net revenue	50,536				46,767				47,120			45,680			46,014			8		10
Total noninterest expense	26,850				23,983				24,281			23,779			23,597			12		14
Pre-provision profit (a)	23,686				22,784				22,839			21,901			22,417			4		6
Provision for credit losses	2,507				4,655			(f)	3,403			2,849			3,305			(46)		(24)
NET INCOME	16,494				13,025				14,393			14,987			14,643			27		13

EARNINGS PER SHARE DATA
Net income: Basic	$	5.95			$	4.64			$	5.08		$	5.25		$	5.08		28		17
Diluted	5.94				4.63				5.07			5.24			5.07			28		17
Average shares: Basic	2,716.2				2,735.3				2,762.4			2,788.7			2,819.4			(1)		(4)
Diluted	2,720.2				2,740.5				2,767.6			2,793.7			2,824.3			(1)		(4)

MARKET AND PER COMMON SHARE DATA
Market capitalization	$	788,205			$	868,793			$	858,683		$	797,181		$	681,712		(9)		16
Common shares at period-end	2,679.5				2,696.2				2,722.2			2,749.7			2,779.1			(1)		(4)
Book value per share	128.38				126.99				124.96			122.51			119.24			1		8
Tangible book value per share (“TBVPS”) (a)	108.87				107.56				105.70			103.40			100.36			1		8
Cash dividends declared per share	1.50				1.50				1.50			1.40			1.40			—		7

FINANCIAL RATIOS (c)
Return on common equity (“ROE”)	19		%		15		%		17		%	18		%	18		%
Return on tangible common equity (“ROTCE”) (a)	23				18				20			21			21
Return on assets	1.41				1.14				1.26			1.35			1.40

CAPITAL RATIOS
Common equity Tier 1 (“CET1”) capital ratio - Standardized (d)	14.3		%	(e)	14.6		%		14.8		%	15.1		%	15.4		%
Tier 1 capital ratio - Standardized (d)	15.2			(e)	15.5				15.8			16.1			16.5
Total capital ratio - Standardized (d)	17.1			(e)	17.4				17.7			17.8			18.2
Tier 1 leverage ratio	6.6			(e)	6.9				6.9			6.9			7.2
Supplementary leverage ratio (“SLR”)	5.6			(e)	5.8				5.8			5.9			6.0

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

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

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

(c)Ratios are based upon annualized amounts.

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

(e)Estimated.

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

Page 2


JPMORGAN CHASE & CO.
CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratios, employee data and where otherwise noted)


	QUARTERLY TRENDS
																	1Q26 Change
	1Q26				4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
SELECTED BALANCE SHEET DATA (period-end)
Total assets	$	4,900,475			$	4,424,900		$	4,560,205		$	4,552,482		$	4,357,856		11	%	12	%
Loans:
Consumer, excluding credit card loans	391,660				402,258			393,084			394,040			391,138			(3)		—
Credit card loans	239,123				247,797			235,475			232,943			223,384			(4)		7
Wholesale loans	872,737				843,374			806,687			785,009			741,173			3		18
Total loans	1,503,520				1,493,429			1,435,246			1,411,992			1,355,695			1		11

Deposits:
U.S. offices:
Noninterest-bearing	595,424				583,342			589,105			591,177			581,623			2		2
Interest-bearing	1,508,682				1,452,729			1,433,404			1,441,905			1,416,585			4		7
Non-U.S. offices:
Noninterest-bearing	43,775				37,057			34,255			29,976			29,856			18		47
Interest-bearing	527,639				486,192			491,712			499,322			467,813			9		13
Total deposits	2,675,520				2,559,320			2,548,476			2,562,380			2,495,877			5		7

Long-term debt	448,764				435,206			427,203			419,802			407,224			3		10
Common stockholders’ equity	343,993				342,393			340,167			336,879			331,375			—		4
Total stockholders’ equity	364,038				362,438			360,212			356,924			351,420			—		4

Loans-to-deposits ratio	56		%		58		%	56		%	55		%	54		%

Employees	320,079				318,512			318,153			317,160			318,477			—		1

95% CONFIDENCE LEVEL - TOTAL VaR
Average VaR (a)	$	37			$	35		$	33		$	42		$	50		6		(26)

Earnings-at-Risk (in billions) (b)
Parallel shift:
+100 bps shift in rates	$	1.8		(d)	$	2.1		$	1.8		$	1.8		$	2.2		(14)		(17)
-100 bps shift in rates	(2.2)			(d)	(2.4)			(2.2)			(2.0)			(2.2)			10		—




LINE OF BUSINESS (“LOB”) & CORPORATE NET REVENUE (c)
Consumer & Community Banking	$	19,568			$	19,396		$	19,473		$	18,847		$	18,313		1		7
Commercial & Investment Bank	23,379				19,375			19,878			19,535			19,666			21		19
Asset & Wealth Management	6,374				6,516			6,066			5,760			5,731			(2)		11
Corporate	1,215				1,480			1,703			1,538			2,304			(18)		(47)
TOTAL NET REVENUE	$	50,536			$	46,767		$	47,120		$	45,680		$	46,014		8		10

LOB & CORPORATE NET INCOME
Consumer & Community Banking	$	4,976			$	3,642		$	5,009		$	5,169		$	4,425		37		12
Commercial & Investment Bank	9,044				7,268			6,901			6,650			6,942			24		30
Asset & Wealth Management	1,775				1,808			1,658			1,473			1,583			(2)		12
Corporate	699				307			825			1,695			1,693			128		(59)
NET INCOME	$	16,494			$	13,025		$	14,393		$	14,987		$	14,643		27		13

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

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

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

(d)Estimated.

Page 3


JPMORGAN CHASE & CO.
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share and ratio data)


	QUARTERLY TRENDS
																			1Q26 Change
REVENUE	1Q26			4Q25				3Q25			2Q25				1Q25				4Q25		1Q25
Investment banking fees	$	2,858		$	2,326			$	2,612		$	2,499			$	2,178			23	%	31	%
Principal transactions	7,987			5,340				7,109			7,149				7,614				50		5
Lending- and deposit-related fees	2,394			2,364				2,349			2,248				2,132				1		12
Asset management fees	5,515			5,701				5,120			4,806				4,700				(3)		17
Commissions and other fees	2,482			2,108				2,204			2,194				2,033				18		22

Investment securities gains/(losses)	64			(71)				105			(54)				(37)				NM		NM
Mortgage fees and related income	309			357				383			363				278				(13)		11
Card income	1,190			1,020				1,140			1,344				1,216				17		(2)
Other income	1,671			1,658				1,439			1,154				1,923				1		(13)
Noninterest revenue	24,470			20,803				22,461			21,703				22,037				18		11
Interest income	49,191			48,808				49,439			48,241				46,853				1		5
Interest expense	23,825			23,813				25,473			25,032				23,580				—		1
Net interest income	25,366			24,995				23,966			23,209				23,273				1		9
TOTAL NET REVENUE	49,836			45,798				46,427			44,912				45,310				9		10

Provision for credit losses	2,507			4,655			(d)	3,403			2,849				3,305				(46)		(24)

NONINTEREST EXPENSE
Compensation expense	15,339			13,118				13,566			13,710				14,093				17		9
Occupancy expense	1,447			1,475				1,420			1,264				1,302				(2)		11
Technology, communications and equipment expense	3,021			2,908				2,839			2,704				2,578				4		17
Professional and outside services	3,483			3,338				3,173			3,006				2,839				4		23
Marketing	1,604			1,468				1,480			1,279				1,304				9		23
Other expense (a)	1,956			1,676			(e)	1,803			1,816				1,481			(e)	17		32
TOTAL NONINTEREST EXPENSE	26,850			23,983				24,281			23,779				23,597				12		14
Income before income tax expense	20,479			17,160				18,743			18,284				18,408				19		11
Income tax expense	3,985			4,135				4,350			3,297			(f)	3,765				(4)		6
NET INCOME	$	16,494		$	13,025			$	14,393		$	14,987			$	14,643			27		13


NET INCOME PER COMMON SHARE DATA
Basic earnings per share	$	5.95		$	4.64			$	5.08		$	5.25			$	5.08			28		17
Diluted earnings per share	5.94			4.63				5.07			5.24				5.07				28		17

FINANCIAL RATIOS
Return on common equity (b)	19		%	15		%		17		%	18		%		18		%
Return on tangible common equity (b)(c)	23			18				20			21				21
Return on assets (b)	1.41			1.14				1.26			1.35				1.40
Effective income tax rate	19.5			24.1				23.2			18.0			(f)	20.5
Overhead ratio	54			52				52			53				52

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

(b)Ratios are based upon annualized amounts.

(c)Refer to page 28 for a further discussion of ROTCE.

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

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

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

Page 4


JPMORGAN CHASE & CO.
CONSOLIDATED BALANCE SHEETS
(in millions)


												Mar 31, 2026
												Change
	Mar 31,		Dec 31,		Sep 30,			Jun 30,		Mar 31,		Dec 31,		Mar 31,
	2026		2025		2025			2025		2025		2025		2025
ASSETS
Cash and due from banks	$	22,039	$	21,742	$	21,821		$	23,759	$	22,066	1	%	—	%
Deposits with banks	290,103		321,596		281,615			396,568		403,837		(10)		(28)
Federal funds sold and securities purchased under
resale agreements	482,704		336,426		425,815			470,589		429,506		43		12
Securities borrowed	284,524		286,191		248,368			223,976		238,702		(1)		19
Trading assets:
Debt and equity instruments	997,751		745,096		892,928			829,510		814,664		34		22
Derivative receivables	71,584		57,777		59,849			60,346		60,539		24		18
Available-for-sale (“AFS”) securities	549,037		507,198		490,499		(a)	485,380		399,363		8		37
Held-to-maturity (”HTM”) securities	272,142		270,134		293,446		(a)	260,559		265,084		1		3
Investment securities, net of allowance for credit losses	821,179		777,332		783,945			745,939		664,447		6		24
Loans	1,503,520		1,493,429		1,435,246			1,411,992		1,355,695		1		11
Less: Allowance for loan losses	25,928		25,765		25,735			24,953		25,208		1		3
Loans, net of allowance for loan losses	1,477,592		1,467,664		1,409,511			1,387,039		1,330,487		1		11
Accrued interest and accounts receivable	142,334		111,599		141,876			124,463		117,845		28		21
Premises and equipment	36,771		36,244		35,063			33,562		32,811		1		12
Goodwill, MSRs and other intangible assets	64,289		64,458		64,442			64,465		64,525		—		—
Other assets	209,605		198,775		194,972			192,266		178,427		5		17
TOTAL ASSETS	$	4,900,475	$	4,424,900	$	4,560,205		$	4,552,482	$	4,357,856	11		12

LIABILITIES
Deposits	$	2,675,520	$	2,559,320	$	2,548,476		$	2,562,380	$	2,495,877	5		7
Federal funds purchased and securities loaned or sold
under repurchase agreements	716,623		442,396		567,574			595,340		533,046		62		34
Short-term borrowings	68,048		64,776		69,355			65,293		64,980		5		5
Trading liabilities:
Debt and equity instruments	196,546		169,690		195,859			173,292		149,871		16		31
Derivative payables	51,290		46,329		46,403			48,110		37,232		11		38
Accounts payable and other liabilities	352,561		316,794		316,896			303,641		293,538		11		20
Beneficial interests issued by consolidated VIEs	27,085		27,951		28,227			27,700		24,668		(3)		10
Long-term debt	448,764		435,206		427,203			419,802		407,224		3		10
TOTAL LIABILITIES	4,536,437		4,062,462		4,199,993			4,195,558		4,006,436		12		13

STOCKHOLDERS’ EQUITY
Preferred stock	20,045		20,045		20,045			20,045		20,045		—		—
Common stock	4,105		4,105		4,105			4,105		4,105		—		—
Additional paid-in capital	90,087		91,114		90,865			90,576		90,223		(1)		—
Retained earnings	428,206		416,055		407,401			397,424		386,616		3		11
Accumulated other comprehensive loss (“AOCI”)	(6,689)		(4,290)		(5,878)			(7,243)		(9,111)		(56)		27
Treasury stock, at cost	(171,716)		(164,591)		(156,326)			(147,983)		(140,458)		(4)		(22)
TOTAL STOCKHOLDERS’ EQUITY	364,038		362,438		360,212			356,924		351,420		—		4
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	4,900,475	$	4,424,900	$	4,560,205		$	4,552,482	$	4,357,856	11		12

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

Page 5


JPMORGAN CHASE & CO.
CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS
(in millions, except rates)


	QUARTERLY TRENDS
																1Q26 Change
AVERAGE BALANCES	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
ASSETS
Deposits with banks	$	312,890		$	335,623		$	360,156		$	405,213		$	446,044		(7)	%	(30)	%
Federal funds sold and securities purchased under resale agreements	437,916			330,694			424,346			432,714			377,998			32		16
Securities borrowed	286,689			261,877			234,112			234,024			241,003			9		19
Trading assets - debt instruments	682,348			620,465			580,985			562,967			495,143			10		38
Investment securities	802,265			788,922			768,599			727,651			664,970			2		21
Loans	1,486,145			1,461,079			1,417,466			1,380,726			1,339,391			2		11
All other interest-earning assets (a)	127,484			125,164			110,100			102,687			103,835			2		23
Total interest-earning assets	4,135,737			3,923,824			3,895,764			3,845,982			3,668,384			5		13
Trading assets - equity and other instruments	241,307			241,351			264,681			239,996			225,468			—		7
Trading assets - derivative receivables	68,328			57,543			61,842			57,601			59,099			19		16
All other noninterest-earning assets	313,365			306,700			297,658			294,039			282,363			2		11
TOTAL ASSETS	$	4,758,737		$	4,529,418		$	4,519,945		$	4,437,618		$	4,235,314		5		12
LIABILITIES
Interest-bearing deposits	$	1,991,590		$	1,949,049		$	1,913,958		$	1,902,337		$	1,842,888		2		8
Federal funds purchased and securities loaned or
sold under repurchase agreements	657,816			517,849			567,920			558,043			465,203			27		41
Short-term borrowings	55,469			56,265			53,755			55,059			49,291			(1)		13
Trading liabilities - debt and all other interest-bearing liabilities (b)	324,559			306,567			314,591			300,126			288,140			6		13
Beneficial interests issued by consolidated VIEs	27,519			27,327			28,884			26,185			25,775			1		7
Long-term debt	367,478			359,910			350,368			348,372			344,945			2		7
Total interest-bearing liabilities	3,424,431			3,216,967			3,229,476			3,190,122			3,016,242			6		14
Noninterest-bearing deposits	611,294			615,559			610,601			602,777			587,417			(1)		4
Trading liabilities - equity and other instruments	57,021			52,059			48,628			44,159			37,671			10		51
Trading liabilities - derivative payables	55,309			47,591			47,926			40,865			41,087			16		35
All other noninterest-bearing liabilities	249,587			236,876			226,934			209,853			208,539			5		20
TOTAL LIABILITIES	4,397,642			4,169,052			4,163,565			4,087,776			3,890,956			5		13
Preferred stock	20,045			20,045			20,045			20,045			20,013			—		—
Common stockholders’ equity	341,050			340,321			336,335			329,797			324,345			—		5
TOTAL STOCKHOLDERS’ EQUITY	361,095			360,366			356,380			349,842			344,358			—		5
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	4,758,737		$	4,529,418		$	4,519,945		$	4,437,618		$	4,235,314		5		12

AVERAGE RATES (c)
INTEREST-EARNING ASSETS
Deposits with banks	3.00		%	3.10		%	3.25		%	3.36		%	3.76		%
Federal funds sold and securities purchased under resale agreements	3.88			4.06			4.24			4.24			4.52
Securities borrowed	3.35			3.55			3.67			3.79			3.88
Trading assets - debt instruments	4.30			4.33			4.30			4.50			4.56
Investment securities	3.69			3.74			3.86			3.85			3.84
Loans	6.57			6.63			6.74			6.71			6.80
All other interest-earning assets (a)(d)	5.79			6.24			7.43			6.87			7.63
Total interest-earning assets	4.83			4.95			5.05			5.04			5.19

INTEREST-BEARING LIABILITIES
Interest-bearing deposits	2.09			2.24			2.41			2.40			2.44
Federal funds purchased and securities loaned or
sold under repurchase agreements	3.79			3.99			4.22			4.29			4.52
Short-term borrowings	3.85			4.01			4.35			4.42			4.40
Trading liabilities - debt and all other interest-bearing liabilities (b)	2.83			2.95			2.92			3.04			2.94
Beneficial interests issued by consolidated VIEs	3.92			4.23			4.58			4.55			4.66
Long-term debt	4.79			4.92			5.16			5.16			5.16
Total interest-bearing liabilities	2.82			2.94			3.13			3.15			3.17

INTEREST RATE SPREAD	2.01			2.01			1.92			1.89			2.02
NET YIELD ON INTEREST-EARNING ASSETS	2.50			2.54			2.45			2.43			2.58
Memo: Net yield on interest-earning assets excluding Markets (e)	3.72			3.76			3.73			3.71			3.80

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

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

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

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

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

Page 6

JPMORGAN CHASE & CO.

RECONCILIATION FROM REPORTED TO MANAGED BASIS

(in millions, except ratios)

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

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








	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
OTHER INCOME
Other income - reported	$	1,671		$	1,658		$	1,439		$	1,154		$	1,923		1	%	(13)	%
Fully taxable-equivalent adjustments (a)	587			856			588			663			602			(31)		(2)
Other income - managed	$	2,258		$	2,514		$	2,027		$	1,817		$	2,525		(10)		(11)

TOTAL NONINTEREST REVENUE
Total noninterest revenue - reported	$	24,470		$	20,803		$	22,461		$	21,703		$	22,037		18		11
Fully taxable-equivalent adjustments	587			856			588			663			602			(31)		(2)
Total noninterest revenue - managed	$	25,057		$	21,659		$	23,049		$	22,366		$	22,639		16		11

NET INTEREST INCOME
Net interest income - reported	$	25,366		$	24,995		$	23,966		$	23,209		$	23,273		1		9
Fully taxable-equivalent adjustments (a)	113			113			105			105			102			—		11
Net interest income - managed	$	25,479		$	25,108		$	24,071		$	23,314		$	23,375		1		9

TOTAL NET REVENUE
Total net revenue - reported	$	49,836		$	45,798		$	46,427		$	44,912		$	45,310		9		10
Fully taxable-equivalent adjustments	700			969			693			768			704			(28)		(1)
Total net revenue - managed	$	50,536		$	46,767		$	47,120		$	45,680		$	46,014		8		10

PRE-PROVISION PROFIT
Pre-provision profit - reported	$	22,986		$	21,815		$	22,146		$	21,133		$	21,713		5		6
Fully taxable-equivalent adjustments	700			969			693			768			704			(28)		(1)
Pre-provision profit - managed	$	23,686		$	22,784		$	22,839		$	21,901		$	22,417		4		6

INCOME BEFORE INCOME TAX EXPENSE
Income before income tax expense - reported	$	20,479		$	17,160		$	18,743		$	18,284		$	18,408		19		11
Fully taxable-equivalent adjustments	700			969			693			768			704			(28)		(1)
Income before income tax expense - managed	$	21,179		$	18,129		$	19,436		$	19,052		$	19,112		17		11

INCOME TAX EXPENSE
Income tax expense - reported	$	3,985		$	4,135		$	4,350		$	3,297		$	3,765		(4)		6
Fully taxable-equivalent adjustments	700			969			693			768			704			(28)		(1)
Income tax expense - managed	$	4,685		$	5,104		$	5,043		$	4,065		$	4,469		(8)		5

OVERHEAD RATIO
Overhead ratio - reported	54		%	52		%	52		%	53		%	52		%
Overhead ratio - managed	53			51			52			52			51

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

Page 7


JPMORGAN CHASE & CO.
SEGMENT & CORPORATE RESULTS - MANAGED BASIS
(in millions)


	QUARTERLY TRENDS
											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25		1Q25
TOTAL NET REVENUE (fully taxable-equivalent (“FTE”))
Consumer & Community Banking	$	19,568	$	19,396	$	19,473	$	18,847	$	18,313	1	%	7	%
Commercial & Investment Bank	23,379		19,375		19,878		19,535		19,666		21		19
Asset & Wealth Management	6,374		6,516		6,066		5,760		5,731		(2)		11
Corporate	1,215		1,480		1,703		1,538		2,304		(18)		(47)
TOTAL NET REVENUE	$	50,536	$	46,767	$	47,120	$	45,680	$	46,014	8		10

TOTAL NONINTEREST EXPENSE
Consumer & Community Banking	$	10,979	$	10,256	$	10,296	$	9,858	$	9,857	7		11
Commercial & Investment Bank	11,136		9,011		9,722		9,641		9,842		24		13
Asset & Wealth Management	4,167		4,068		3,818		3,733		3,713		2		12
Corporate	568		648		445		547		185		(12)		207
TOTAL NONINTEREST EXPENSE	$	26,850	$	23,983	$	24,281	$	23,779	$	23,597	12		14

PRE-PROVISION PROFIT
Consumer & Community Banking	$	8,589	$	9,140	$	9,177	$	8,989	$	8,456	(6)		2
Commercial & Investment Bank	12,243		10,364		10,156		9,894		9,824		18		25
Asset & Wealth Management	2,207		2,448		2,248		2,027		2,018		(10)		9
Corporate	647		832		1,258		991		2,119		(22)		(69)
PRE-PROVISION PROFIT	$	23,686	$	22,784	$	22,839	$	21,901	$	22,417	4		6

PROVISION FOR CREDIT LOSSES
Consumer & Community Banking	$	2,050	$	4,244	$	2,538	$	2,082	$	2,629	(52)		(22)
Commercial & Investment Bank	482		405		809		696		705		19		(32)
Asset & Wealth Management	(24)		2		59		46		(10)		NM		(140)
Corporate	(1)		4		(3)		25		(19)		NM		95
PROVISION FOR CREDIT LOSSES	$	2,507	$	4,655	$	3,403	$	2,849	$	3,305	(46)		(24)

NET INCOME
Consumer & Community Banking	$	4,976	$	3,642	$	5,009	$	5,169	$	4,425	37		12
Commercial & Investment Bank	9,044		7,268		6,901		6,650		6,942		24		30
Asset & Wealth Management	1,775		1,808		1,658		1,473		1,583		(2)		12
Corporate	699		307		825		1,695		1,693		128		(59)
TOTAL NET INCOME	$	16,494	$	13,025	$	14,393	$	14,987	$	14,643	27		13

Page 8


JPMORGAN CHASE & CO.
CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS
(in millions, except ratio data)


																	Mar 31, 2026
																	Change
	Mar 31,				Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,		Mar 31,
	2026				2025			2025			2025			2025			2025		2025
CAPITAL
Risk-based capital metrics
Standardized
CET1 capital	$	291,090		(b)	$	288,469		$	287,297		$	283,854		$	279,791		1	%	4	%
Tier 1 capital	310,253			(b)	307,630			306,599			303,189			299,132			1		4
Total capital	349,894			(b)	343,843			343,215			335,307			330,533			2		6
Risk-weighted assets	2,041,683			(b)	1,981,692			1,935,868			1,882,718			1,815,045			3		12
CET1 capital ratio	14.3		%	(b)	14.6		%	14.8		%	15.1		%	15.4		%
Tier 1 capital ratio	15.2			(b)	15.5			15.8			16.1			16.5
Total capital ratio	17.1			(b)	17.4			17.7			17.8			18.2

Advanced
CET1 capital	$	291,090		(b)	$	288,469		$	287,297		$	283,854		$	279,791		1		4
Tier 1 capital	310,253			(b)	307,630			306,599			303,189			299,132			1		4
Total capital	334,305			(b)	328,962			328,356			320,809			316,529			2		6
Risk-weighted assets	2,063,578			(b)(c)	2,045,249			1,932,404			1,873,142			1,799,055			1		15
CET1 capital ratio	14.1		%	(b)	14.1		%	14.9		%	15.2		%	15.6		%
Tier 1 capital ratio	15.0			(b)	15.0			15.9			16.2			16.6
Total capital ratio	16.2			(b)	16.1			17.0			17.1			17.6

Leverage-based capital metrics
Adjusted average assets (a)	$	4,702,917		(b)	$	4,472,394		$	4,464,441		$	4,382,220		$	4,180,147		5		13
Tier 1 leverage ratio	6.6		%	(b)	6.9		%	6.9		%	6.9		%	7.2		%

Total leverage exposure	$	5,576,092		(b)	$	5,302,001		$	5,272,950		$	5,161,360		$	4,953,480		5		13
SLR	5.6		%	(b)	5.8		%	5.8		%	5.9		%	6.0		%

Total Loss-Absorbing Capacity (“TLAC”)
Eligible external TLAC	$	572,078		(b)	$	563,743		$	567,557		$	559,897		$	558,303		1		2

MEMO: CET1 CAPITAL ROLLFORWARD
Standardized/Advanced CET1 capital, beginning balance	$	288,469			$	287,297		$	283,854		$	279,791		$	275,513		—		5
Net income applicable to common equity	16,218				12,745			14,111			14,705			14,388			27		13
Dividends declared on common stock	(4,067)				(4,091)			(4,134)			(3,897)			(3,938)			1		(3)
Net purchase of treasury stock	(7,125)				(8,265)			(8,343)			(7,525)			(6,440)			14		(11)
Changes in additional paid-in capital	(1,027)				249			289			353			(688)			NM		(49)
Changes related to AOCI applicable to capital:
Unrealized gains/(losses) on investment securities	(2,401)				1,295			1,509			(188)			953			NM		NM
Translation adjustments, net of hedges	(167)				(6)			(12)			868			489			NM		NM
Fair value hedges	41				7			37			(8)			28			486		46
Defined benefit pension and other postretirement employee benefit plans	4				619			4			(28)			(16)			(99)		NM
Changes related to other CET1 capital adjustments	1,145			(b)	(1,381)			(18)			(217)			(498)			NM		NM
Change in Standardized/Advanced CET1 capital	2,621			(b)	1,172			3,443			4,063			4,278			124		(39)
Standardized/Advanced CET1 capital, ending balance	$	291,090		(b)	$	288,469		$	287,297		$	283,854		$	279,791		1		4

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

(b)Estimated.

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

Page 9


JPMORGAN CHASE & CO.
CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS, CONTINUED
(in millions, except ratio data)


											Mar 31, 2026
											Change
	Mar 31,		Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,		Mar 31,
	2026		2025		2025		2025		2025		2025		2025
TANGIBLE COMMON EQUITY (period-end) (a)
Common stockholders’ equity	$	343,993	$	342,393	$	340,167	$	336,879	$	331,375	—	%	4	%
Less: Goodwill	52,706		52,731		52,717		52,747		52,621		—		—
Less: Other intangible assets	2,490		2,560		2,615		2,722		2,777		(3)		(10)
Add: Certain deferred tax liabilities (b)	2,911		2,916		2,906		2,923		2,928		—		(1)
Total tangible common equity	$	291,708	$	290,018	$	287,741	$	284,333	$	278,905	1		5

TANGIBLE COMMON EQUITY (average) (a)
Common stockholders’ equity	$	341,050	$	340,321	$	336,335	$	329,797	$	324,345	—		5
Less: Goodwill	52,737		52,703		52,731		52,692		52,581		—		—
Less: Other intangible assets	2,518		2,574		2,678		2,741		2,830		(2)		(11)
Add: Certain deferred tax liabilities (b)	2,915		2,903		2,917		2,926		2,938		—		(1)
Total tangible common equity	$	288,710	$	287,947	$	283,843	$	277,290	$	271,872	—		6

INTANGIBLE ASSETS (period-end)
Goodwill	$	52,706	$	52,731	$	52,717	$	52,747	$	52,621	—		—
Mortgage servicing rights	9,093		9,167		9,110		8,996		9,127		(1)		—
Other intangible assets	2,490		2,560		2,615		2,722		2,777		(3)		(10)
Total intangible assets	$	64,289	$	64,458	$	64,442	$	64,465	$	64,525	—		—

(a)Refer to page 28 for further discussion of TCE.

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

Page 10


JPMORGAN CHASE & CO.
EARNINGS PER SHARE AND RELATED INFORMATION
(in millions, except per share and ratio data)


	QUARTERLY TRENDS
																	1Q26 Change
	1Q26			4Q25			3Q25				2Q25			1Q25			4Q25		1Q25
EARNINGS PER SHARE
Basic earnings per share
Net income	$	16,494		$	13,025		$	14,393			$	14,987		$	14,643		27	%	13	%
Less: Preferred stock dividends	276			280			282				282			255			(1)		8
Net income applicable to common equity	16,218			12,745			14,111				14,705			14,388			27		13
Less: Dividends and undistributed earnings allocated to
participating securities	70			56			68				75			71			25		(1)
Net income applicable to common stockholders	$	16,148		$	12,689		$	14,043			$	14,630		$	14,317		27		13

Total weighted-average basic shares outstanding	2,716.2			2,735.3			2,762.4				2,788.7			2,819.4			(1)		(4)
Net income per share	$	5.95		$	4.64		$	5.08			$	5.25		$	5.08		28		17

Diluted earnings per share
Net income applicable to common stockholders	$	16,148		$	12,689		$	14,043			$	14,630		$	14,317		27		13
Total weighted-average basic shares outstanding	2,716.2			2,735.3			2,762.4				2,788.7			2,819.4			(1)		(4)
Add: Dilutive impact of unvested performance share units (“PSUs”), nondividend-earning restricted stock units (“RSUs”) and stock appreciation rights (“SARs”)	4.0			5.2			5.2				5.0			4.9			(23)		(18)
Total weighted-average diluted shares outstanding	2,720.2			2,740.5			2,767.6				2,793.7			2,824.3			(1)		(4)
Net income per share	$	5.94		$	4.63		$	5.07			$	5.24		$	5.07		28		17

COMMON DIVIDENDS
Cash dividends declared per share	$	1.50		$	1.50		$	1.50		(c)	$	1.40		$	1.40		—		7
Dividend payout ratio	25		%	32		%	29		%		27		%	27		%

COMMON SHARE REPURCHASE PROGRAM (a)
Total shares of common stock repurchased	27.5			26.7			28.0				29.8			30.0			3		(8)
Average price paid per share of common stock	$	302.75		$	309.81		$	297.10			$	251.67		$	252.50		(2)		20
Aggregate repurchases of common stock	8,328			8,262			8,315				7,500			7,563			1		10

EMPLOYEE ISSUANCE
Shares issued from treasury stock related to employee
stock-based compensation awards and employee stock
purchase plans	10.8			0.7			0.4				0.4			11.5			NM		(6)
Net impact of employee issuances on stockholders’ equity (b)	$	221		$	322		$	339			$	419		$	476		(31)		(54)

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

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

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

Page 11


JPMORGAN CHASE & CO.
CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS
(in millions, except ratio data)

	QUARTERLY TRENDS
																	1Q26 Change
	1Q26			4Q25				3Q25			2Q25			1Q25			4Q25		1Q25
INCOME STATEMENT
REVENUE
Lending- and deposit-related fees	$	947		$	973			$	969		$	888		$	839		(3)	%	13	%
Asset management fees	1,303			1,277				1,189			1,110			1,093			2		19
Mortgage fees and related income	303			344				372			347			263			(12)		15
Card income	592			376				514			687			653			57		(9)
All other income (a)	1,685			1,585				1,573			1,420			1,323			6		27
Noninterest revenue	4,830			4,555				4,617			4,452			4,171			6		16
Net interest income	14,738			14,841				14,856			14,395			14,142			(1)		4
TOTAL NET REVENUE	19,568			19,396				19,473			18,847			18,313			1		7

Provision for credit losses	2,050			4,244			(e)	2,538			2,082			2,629			(52)		(22)

NONINTEREST EXPENSE
Compensation expense (b)	4,622			4,392				4,357			4,260			4,375			5		6
Noncompensation expense (b)(c)	6,357			5,864				5,939			5,598			5,482			8		16
TOTAL NONINTEREST EXPENSE	10,979			10,256				10,296			9,858			9,857			7		11

Income before income tax expense	6,539			4,896				6,639			6,907			5,827			34		12
Income tax expense	1,563			1,254				1,630			1,738			1,402			25		11
NET INCOME	$	4,976		$	3,642			$	5,009		$	5,169		$	4,425		37		12

REVENUE BY BUSINESS
Banking & Wealth Management	$	10,577		$	10,870			$	11,040		$	10,698		$	10,254		(3)		3
Home Lending	1,232			1,249				1,260			1,250			1,207			(1)		2
Card Services & Auto	7,759			7,277				7,173			6,899			6,852			7		13

MORTGAGE FEES AND RELATED INCOME DETAILS
Production revenue	178			188				173			151			110			(5)		62
Net mortgage servicing revenue (d)	125			156				199			196			153			(20)		(18)
Mortgage fees and related income	$	303		$	344			$	372		$	347		$	263		(12)		15

FINANCIAL RATIOS
ROE	32		%	25		%		35		%	36		%	31		%
Overhead ratio	56			53				53			52			54

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

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

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

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

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

Page 12


JPMORGAN CHASE & CO.
CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except employee data)

	QUARTERLY TRENDS
											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25		1Q25
SELECTED BALANCE SHEET DATA (period-end)
Total assets	$	656,051	$	664,669	$	652,275	$	652,379	$	636,105	(1)	%	3	%

Loans:
Banking & Wealth Management	32,992		33,005		33,259		33,749		33,098		—		—
Home Lending (a)	238,571		240,724		240,633		241,618		241,427		(1)		(1)
Card Services	239,065		247,753		235,491		233,051		223,517		(4)		7
Auto	70,958		70,585		71,095		72,182		72,116		1		(2)
Total loans	581,586		592,067		580,478		580,600		570,158		(2)		2

Deposits	1,112,078		1,072,792		1,058,388		1,063,137		1,080,138		4		3
Equity	61,500		56,000		56,000		56,000		56,000		10		10

SELECTED BALANCE SHEET DATA (average)
Total assets	$	655,977	$	654,851	$	650,277	$	642,284	$	639,664	—		3

Loans:
Banking & Wealth Management	33,038		32,916		33,351		33,536		33,160		—		—
Home Lending (b)	240,429		241,701		241,772		242,665		244,282		(1)		(2)
Card Services	239,153		239,335		234,412		228,446		224,493		—		7
Auto	70,208		70,693		70,895		71,410		72,462		(1)		(3)
Total loans	582,828		584,645		580,430		576,057		574,397		—		1

Deposits	1,075,951		1,056,819		1,058,025		1,060,363		1,053,677		2		2
Equity	61,500		56,000		56,000		56,000		56,000		10		10

Employees (c)	143,869		142,586		142,600		143,198		143,778		1		—

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

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

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

Page 13


JPMORGAN CHASE & CO.
CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data)

	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
CREDIT DATA AND QUALITY STATISTICS
Nonaccrual loans (a)	$	3,493		$	3,484		$	3,596		$	3,891		$	3,266		—	%	7	%

Net charge-offs/(recoveries)
Banking & Wealth Management	85			72			85			102			97			18		(12)
Home Lending	(15)			(12)			(63)			(21)			(26)			(25)		42
Card Services	2,044			1,897			1,860			1,938			1,983			8		3
Auto	81			87			81			67			100			(7)		(19)
Total net charge-offs/(recoveries)	$	2,195		$	2,044		$	1,963		$	2,086		$	2,154		7		2
Net charge-off/(recovery) rate
Banking & Wealth Management	1.04		%	0.87		%	1.01		%	1.22		%	1.19		%
Home Lending	(0.03)			(0.02)			(0.11)			(0.04)			(0.04)
Card Services	3.47			3.14			3.15			3.40			3.58
Auto	0.47			0.49			0.46			0.38			0.56
Total net charge-off/(recovery) rate	1.56			1.41			1.37			1.48			1.54

30+ day delinquency rate
Home Lending (b)	0.88		%	0.86		%	0.89		%	0.93		%	1.04		%
Card Services	2.17			2.16			2.14			2.06			2.21
Auto	1.09			1.33		(d)	1.17			1.12			1.20

90+ day delinquency rate - Card Services	1.15			1.10			1.07			1.07			1.16

Allowance for credit losses:
Allowance for loan losses
Banking & Wealth Management	$	765		$	765		$	765		$	790		$	794		—		(4)
Home Lending	507			647			647			547			557			(22)		(9)
Card Services	15,563			15,558			15,558			15,008			15,008			—		4
Auto	587			587			587			637			637			—		(8)
Total allowance for loan losses	17,422			17,557			17,557			16,982			16,996			(1)		3
Allowance for lending-related commitments (c)	2,280			2,290			90			90			81			—		NM
Total allowance for credit losses	$	19,702		$	19,847		$	17,647		$	17,072		$	17,077		(1)		15

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

(b)At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, excluded mortgage loans 30 or more days past due and insured by U.S. government agencies of $92 million, $102 million, $95 million, $99 million and $114 million, respectively. These amounts have been excluded based upon the government guarantee.

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

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

Page 14


JPMORGAN CHASE & CO.
CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)

	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
BUSINESS METRICS
Number of:
Branches	5,095			5,083			5,018			4,994			4,972			—	%	2	%
Active digital customers (in thousands) (a)	76,246			74,646			74,041			73,014			72,480			2		5
Active mobile customers (in thousands) (b)	62,960			61,736			60,924			59,898			59,036			2		7

Debit and credit card sales volume (in billions)	$	487.6		$	512.5		$	492.3		$	487.2		$	448.7		(5)		9
Total payments transaction volume (in trillions) (c)	1.8			1.8			1.8			1.8			1.6			—		13

Banking & Wealth Management
Average deposits	$	1,059,463		$	1,039,621		$	1,040,402		$	1,044,158		$	1,038,964		2		2
Deposit margin	2.63		%	2.72		%	2.79		%	2.76		%	2.69		%
Business Banking average loans	$	18,578		$	18,747		$	18,922		$	19,217		$	19,474		(1)		(5)
Business Banking origination volume	733			691			824			893			815			6		(10)
Client investment assets (d)	1,272,180			1,269,883			1,232,390			1,155,017			1,079,833			—		18
Number of client advisors	6,243			6,049			6,025			5,948			5,860			3		7

Home Lending (in billions)
Mortgage origination volume by channel
Retail	$	8.7		$	10.4		$	8.4		$	8.7		$	5.5		(16)		58
Correspondent	5.0			5.6			5.5			4.8			3.9			(11)		28
Total mortgage origination volume (e)	$	13.7		$	16.0		$	13.9		$	13.5		$	9.4		(14)		46
Third-party mortgage loans serviced (period-end)	656.4			661.9			663.6			653.3			661.6			(1)		(1)
MSR carrying value (period-end)	9.1			9.1			9.1			9.0			9.1			—		—

Card Services
Sales volume, excluding commercial card (in billions)	$	337.6		$	359.7		$	344.4		$	340.0		$	310.6		(6)		9
Net revenue rate	10.78		%	9.86		%	10.03		%	10.06		%	10.38		%
Net yield on average loans	10.85			10.40			10.28			10.04			10.31

Auto
Loan and lease origination volume (in billions)	$	10.4		$	10.8		$	12.0		$	11.3		$	10.7		(4)		(3)
Average auto operating lease assets	20,398			18,893			16,986			15,218			13,641			8		50

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

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

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

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

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

Page 15


JPMORGAN CHASE & CO.
COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS
(in millions, except ratio data)

	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
INCOME STATEMENT
REVENUE
Investment banking fees	$	2,883		$	2,347		$	2,627		$	2,513		$	2,248		23	%	28	%
Principal transactions	7,897			5,419			7,090			7,109			7,608			46		4
Lending- and deposit-related fees	1,394			1,336			1,315			1,296			1,230			4		13
Commissions and other fees	1,714			1,562			1,493			1,493			1,437			10		19
Card income	585			627			613			645			551			(7)		6
All other income	917			1,063			660			736			748			(14)		23
Noninterest revenue	15,390			12,354			13,798			13,792			13,822			25		11
Net interest income	7,989			7,021			6,080			5,743			5,844			14		37
TOTAL NET REVENUE (a)	23,379			19,375			19,878			19,535			19,666			21		19

Provision for credit losses	482			405			809			696			705			19		(32)

NONINTEREST EXPENSE
Compensation expense (b)	5,740			3,940			4,662			4,815			5,127			46		12
Noncompensation expense (b)	5,396			5,071			5,060			4,826			4,715			6		14
TOTAL NONINTEREST EXPENSE	11,136			9,011			9,722			9,641			9,842			24		13

Income before income tax expense	11,761			9,959			9,347			9,198			9,119			18		29
Income tax expense	2,717			2,691			2,446			2,548			2,177			1		25
NET INCOME	$	9,044		$	7,268		$	6,901		$	6,650		$	6,942		24		30

FINANCIAL RATIOS
ROE	21		%	19		%	18		%	17		%	18		%
Overhead ratio	48			47			49			49			50
Compensation expense as percentage of total net revenue (b)	25			20			23			25			26

REVENUE BY BUSINESS
Investment Banking	$	3,136		$	2,552		$	2,694		$	2,684		$	2,268		23		38
Payments	5,123			5,114			4,917			4,735			4,565			—		12
Lending	2,166			1,985			1,872			1,829			1,915			9		13
Other	—			—			—			—			6			—		NM
Total Banking & Payments	10,425			9,651			9,483			9,248			8,754			8		19
Fixed Income Markets	7,078			5,380			5,613			5,690			5,849			32		21
Equity Markets	4,481			2,859			3,331			3,246			3,814			57		17
Securities Services	1,499			1,489			1,423			1,418			1,269			1		18
Credit Adjustments & Other (c)	(104)			(4)			28			(67)			(20)			NM		(420)
Total Markets & Securities Services	12,954			9,724			10,395			10,287			10,912			33		19
TOTAL NET REVENUE	$	23,379		$	19,375		$	19,878		$	19,535		$	19,666		21		19

Banking & Payments revenue by client coverage segment (d)
Global Corporate Banking & Global Investment Banking (e)	$	7,265		$	6,493		$	6,544		$	6,319		$	5,929		12	%	23	%
Commercial Banking	3,160			3,158			2,939			2,929			2,825			—		12
Commercial & Specialized Industries	2,280			2,245			2,038			2,067			1,956			2		17
Commercial Real Estate Banking	880			913			901			862			869			(4)		1
Total Banking & Payments revenue	$	10,425		$	9,651		$	9,483		$	9,248		$	8,754		8		19

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

(c)Consists primarily of centrally managed credit valuation adjustments (“CVA”), funding valuation adjustments (“FVA”) on derivatives, other valuation adjustments, and certain components of fair value option elected liabilities, which are primarily reported in principal transactions revenue. Results are presented net of associated hedging activities and net of CVA and FVA amounts allocated to Fixed Income Markets and Equity Markets.

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

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

Page 16


JPMORGAN CHASE & CO.
COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and employee data)

	QUARTERLY TRENDS
											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25		1Q25
SELECTED BALANCE SHEET DATA (period-end)
Total assets	$	2,626,846	$	2,142,534	$	2,328,000	$	2,260,825	$	2,174,123	23	%	21	%
Loans:
Loans retained	576,917		558,528		538,016		526,174		497,657		3		16
Loans held-for-sale and loans at fair value (a)	67,022		73,508		56,057		57,659		48,201		(9)		39
Total loans	643,939		632,036		594,073		583,833		545,858		2		18

Equity	166,500		149,500		149,500		149,500		149,500		11		11

Banking & Payments loans by client coverage segment (period-end) (b)
Global Corporate Banking & Global Investment Banking (c)	$	158,989	$	146,079	$	132,560	$	133,017	$	121,776	9		31
Commercial Banking	224,253		222,139		222,464		222,044		219,220		1		2
Commercial & Specialized Industries	77,425		75,865		76,010		75,859		74,334		2		4
Commercial Real Estate Banking	146,828		146,274		146,454		146,185		144,886		—		1
Total Banking & Payments loans	383,242		368,218		355,024		355,061		340,996		4		12

SELECTED BALANCE SHEET DATA (average)
Total assets	$	2,497,393	$	2,260,671	$	2,266,445	$	2,205,619	$	2,045,105	10		22
Trading assets - debt and equity instruments	874,262		815,438		796,017		758,113		685,039		7		28
Trading assets - derivative receivables	67,591		56,598		61,132		56,815		58,987		19		15
Loans:
Loans retained	558,751		546,219		528,135		511,562		482,304		2		16
Loans held-for-sale and loans at fair value (a)	73,588		66,415		55,545		50,287		46,422		11		59
Total loans	632,339		612,634		583,680		561,849		528,726		3		20

Deposits	1,234,295		1,226,155		1,194,410		1,170,063		1,106,158		1		12
Equity	166,500		149,500		149,500		149,500		149,500		11		11

Banking & Payments loans by client coverage segment (average) (b)
Global Corporate Banking & Global Investment Banking (c)	$	151,120	$	138,491	$	132,101	$	125,554	$	121,387	9		24
Commercial Banking	222,897		222,216		221,534		219,886		218,560		—		2
Commercial & Specialized Industries	76,610		75,620		75,270		74,384		73,629		1		4
Commercial Real Estate Banking	146,287		146,596		146,264		145,502		144,931		—		1
Total Banking & Payments loans	374,017		360,707		353,635		345,440		339,947		4		10


Employees (d)	91,493		91,355		90,895		89,882		89,415		—		2

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

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

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

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

Page 17


JPMORGAN CHASE & CO.
COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and employee data)

	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25

CREDIT DATA AND QUALITY STATISTICS
Net charge-offs/(recoveries)	$	120		$	440		$	567		$	325		$	177		(73)	%	(32)	%

Nonperforming assets:
Nonaccrual loans:
Nonaccrual loans retained (a)	3,855			3,641			4,033			3,678			3,413			6		13
Nonaccrual loans held-for-sale and loans at fair value (b)	1,192			1,518			1,338			1,207			1,255			(21)		(5)
Total nonaccrual loans	5,047			5,159			5,371			4,885			4,668			(2)		8

Derivative receivables	174			204			224			349			169			(15)		3
Assets acquired in loan satisfactions	176			192			197			208			211			(8)		(17)
Total nonperforming assets	5,397			5,555			5,792			5,442			5,048			(3)		7

Allowance for credit losses:
Allowance for loan losses	7,947			7,632			7,609			7,408			7,680			4		3
Allowance for lending-related commitments	2,777			2,738			2,798			2,757			2,113			1		31
Total allowance for credit losses	10,724			10,370			10,407			10,165			9,793			3		10

Net charge-off/(recovery) rate (c)	0.09		%	0.32		%	0.43		%	0.25		%	0.15		%

Allowance for loan losses to period-end loans retained	1.38			1.37			1.41			1.41			1.54



Allowance for loan losses to nonaccrual loans retained (a)	206			210			189			201			225
Nonaccrual loans to total period-end loans	0.78			0.82			0.90			0.84			0.86

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

(b)Excludes mortgage loans past due and insured by U.S. government agencies, which are primarily 90 or more days past due. These loans have been excluded based upon the government guarantee. At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $183 million, $128 million, $93 million, $45 million and $36 million, respectively.

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

Page 18


JPMORGAN CHASE & CO.
COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except where otherwise noted)

	QUARTERLY TRENDS
											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25		1Q25
BUSINESS METRICS
Advisory	$	1,266	$	1,033	$	926	$	844	$	694	23	%	82	%
Equity underwriting	472		416		527		465		324		13		46
Debt underwriting	1,145		898		1,174		1,204		1,230		28		(7)
Total investment banking fees	$	2,883	$	2,347	$	2,627	$	2,513	$	2,248	23		28

Client deposits and other third-party liabilities (average) (a)	1,167,128		1,153,559		1,111,143		1,089,781		1,034,382		1		13

Assets under custody (“AUC”) (period-end) (in billions)	$	40,905	$	41,172	$	40,128	$	38,028	$	35,678	(1)		15

95% Confidence Level - Total CIB VaR (average) (b)
CIB trading VaR by risk type: (c)
Fixed income	$	39	$	35	$	33	$	37	$	37	11		5
Foreign exchange	13		9		9		10		9		44		44
Equities	11		13		14		17		25		(15)		(56)
Commodities and other	14		23		19		24		29		(39)		(52)
Diversification benefit to CIB trading VaR (d)	(47)		(49)		(50)		(55)		(55)		4		15
CIB trading VaR (c)	30		31		25		33		45		(3)		(33)
Credit Portfolio VaR (e)	21		20		21		22		21		5		—
Diversification benefit to CIB VaR (d)	(16)		(17)		(15)		(17)		(19)		6		16
CIB VaR	$	35	$	34	$	31	$	38	$	47	3		(26)

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

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

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

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

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

Page 19


JPMORGAN CHASE & CO.
ASSET & WEALTH MANAGEMENT
FINANCIAL HIGHLIGHTS
(in millions, except ratio and employee data)

	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
INCOME STATEMENT
REVENUE
Asset management fees	$	4,125		$	4,372		$	3,885		$	3,642		$	3,595		(6)	%	15	%
Commissions and other fees	369			301			296			314			273			23		35
All other income	154			165			156			117			125			(7)		23
Noninterest revenue	4,648			4,838			4,337			4,073			3,993			(4)		16
Net interest income	1,726			1,678			1,729			1,687			1,738			3		(1)
TOTAL NET REVENUE	6,374			6,516			6,066			5,760			5,731			(2)		11

Provision for credit losses	(24)			2			59			46			(10)			NM		(140)

NONINTEREST EXPENSE
Compensation expense (a)	2,339			2,256			2,125			2,083			2,067			4		13
Noncompensation expense (a)	1,828			1,812			1,693			1,650			1,646			1		11
TOTAL NONINTEREST EXPENSE	4,167			4,068			3,818			3,733			3,713			2		12

Income before income tax expense	2,231			2,446			2,189			1,981			2,028			(9)		10
Income tax expense	456			638			531			508			445			(29)		2
NET INCOME	$	1,775		$	1,808		$	1,658		$	1,473		$	1,583		(2)		12

REVENUE BY BUSINESS
Asset Management	$	3,072		$	3,408		$	2,916		$	2,705		$	2,671		(10)		15
Global Private Bank	3,302			3,108			3,150			3,055			3,060			6		8
TOTAL NET REVENUE	$	6,374		$	6,516		$	6,066		$	5,760		$	5,731		(2)		11

FINANCIAL RATIOS
ROE	44		%	44		%	40		%	36		%	39		%
Overhead ratio	65			62			63			65			65
Pretax margin ratio:
Asset Management	34			38			35			33			32
Global Private Bank	36			37			37			36			38
Asset & Wealth Management	35			38			36			34			35

Employees (a)	29,357			29,181			29,135			28,770			28,916			1		2

Number of Global Private Bank client advisors	4,110			4,101			4,050			3,756			3,781			—		9

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

Page 20


JPMORGAN CHASE & CO.
ASSET & WEALTH MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data)

	QUARTERLY TRENDS
																1Q26 Change
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
SELECTED BALANCE SHEET DATA (period-end)
Total assets	$	299,179		$	288,065		$	282,322		$	268,966		$	258,354		4	%	16	%
Loans	274,902			266,385			257,988			245,526			237,201			3		16
Deposits	266,745			257,316			239,999			242,356			250,219			4		7
Equity	16,000			16,000			16,000			16,000			16,000			—		—

SELECTED BALANCE SHEET DATA (average)
Total assets	$	291,058		$	284,100		$	272,954		$	261,128		$	253,372		2		15
Loans	267,986			260,792			250,730			240,585			233,937			3		15
Deposits	253,706			247,065			241,454			248,375			244,107			3		4
Equity	16,000			16,000			16,000			16,000			16,000			—		—






CREDIT DATA AND QUALITY STATISTICS
Net charge-offs/(recoveries)	$	1		$	30		$	62		$	(1)		$	1		(97)		—

Nonaccrual loans	1,035			1,199			1,129			1,035			675			(14)		53

Allowance for credit losses:
Allowance for loan losses	520			536			555			552			530			(3)		(2)
Allowance for lending-related commitments	33			43			52			58			33			(23)		—
Total allowance for credit losses	553			579			607			610			563			(4)		(2)

Net charge-off/(recovery) rate	—		%	0.05		%	0.10		%	—		%	—		%

Allowance for loan losses to period-end loans	0.19			0.20			0.22			0.22			0.22

Allowance for loan losses to nonaccrual loans	50			45			49			53			93
Nonaccrual loans to period-end loans	0.38			0.45			0.44			0.42			0.28

Page 21


JPMORGAN CHASE & CO.
ASSET & WEALTH MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in billions, except business metrics data)

											Mar 31, 2026
											Change
	Mar 31,		Dec 31,		Sep 30,		Jun 30,		Mar 31,		Dec 31,		Mar 31,
CLIENT ASSETS	2026		2025		2025		2025		2025		2025		2025
Assets by asset class
Liquidity	$	1,297	$	1,279	$	1,174	$	1,131	$	1,120	1	%	16	%
Fixed income	1,014		998		971		925		879		2		15
Equity	1,360		1,400		1,371		1,258		1,128		(3)		21
Multi-asset	880		884		855		809		764		—		15
Alternatives	238		230		228		220		222		3		7
TOTAL ASSETS UNDER MANAGEMENT	4,789		4,791		4,599		4,343		4,113		—		16
Custody/brokerage/administration/deposits	2,314		2,327		2,239		2,078		1,889		(1)		22
TOTAL CLIENT ASSETS (a)	$	7,103	$	7,118	$	6,838	$	6,421	$	6,002	—		18


Assets by client segment
Private Banking	$	1,440	$	1,414	$	1,364	$	1,270	$	1,201	2		20
Global Institutional	1,964		1,953		1,837		1,772		1,705		1		15
Global Funds	1,385		1,424		1,398		1,301		1,207		(3)		15
TOTAL ASSETS UNDER MANAGEMENT	$	4,789	$	4,791	$	4,599	$	4,343	$	4,113	—		16

Private Banking	$	3,549	$	3,549	$	3,423	$	3,191	$	2,949	—		20
Global Institutional	2,145		2,121		1,994		1,907		1,828		1		17
Global Funds	1,409		1,448		1,421		1,323		1,225		(3)		15
TOTAL CLIENT ASSETS (a)	$	7,103	$	7,118	$	6,838	$	6,421	$	6,002	—		18

Assets under management rollforward
Beginning balance	$	4,791	$	4,599	$	4,343	$	4,113	$	4,045
Net asset flows:
Liquidity	13		105		37		5		36
Fixed income	20		25		31		27		11
Equity	18		11		31		16		37
Multi-asset	10		11		4		(2)		3
Alternatives	6		5		6		(10)		3
Market/performance/other impacts	(69)		35		147		194		(22)
Ending balance	$	4,789	$	4,791	$	4,599	$	4,343	$	4,113

Client assets rollforward
Beginning balance	$	7,118	$	6,838	$	6,421	$	6,002	$	5,932
Net asset flows	111		206		147		80		120
Market/performance/other impacts	(126)		74		270		339		(50)
Ending balance	$	7,103	$	7,118	$	6,838	$	6,421	$	6,002

BUSINESS METRICS
Firmwide Wealth Management
Client assets (in billions) (b)	$	4,516	$	4,521	$	4,373	$	4,087	$	3,791	—		19
Number of client advisors	10,353		10,150		10,075		9,704		9,641		2		7

Stock Plan Administration
Number of stock plan participants (in thousands)	1,883		1,794		1,796		1,594		1,500		5		26
Client assets (in billions)	383		372		357		314		281		3		36

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

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

Page 22


JPMORGAN CHASE & CO.
CORPORATE
FINANCIAL HIGHLIGHTS
(in millions, except employee data)

	QUARTERLY TRENDS
															1Q26 Change
	1Q26		4Q25			3Q25			2Q25			1Q25			4Q25		1Q25
INCOME STATEMENT
REVENUE
Principal transactions	$	(31)	$	(144)		$	(54)		$	(54)		$	(87)		78	%	64	%
Investment securities gains/(losses)	60		(72)			105			(54)			(37)			NM		NM
All other income	160		128			246			157			777			25		(79)
Noninterest revenue	189		(88)			297			49			653			NM		(71)
Net interest income	1,026		1,568			1,406			1,489			1,651			(35)		(38)
TOTAL NET REVENUE (a)	1,215		1,480			1,703			1,538			2,304			(18)		(47)

Provision for credit losses	(1)		4			(3)			25			(19)			NM		95

NONINTEREST EXPENSE (b)	568		648		(f)	445			547			185		(f)	(12)		207
Income before income tax expense	648		828			1,261			966			2,138			(22)		(70)
Income tax expense/(benefit)	(51)		521			436			(729)		(h)	445			NM		NM
NET INCOME	$	699	$	307		$	825		$	1,695		$	1,693		128		(59)

MEMO:
TOTAL NET REVENUE
Treasury and Chief Investment Office (“CIO”)	1,337		1,601			1,687			1,649			1,564			(16)		(15)
Other Corporate	(122)		(121)			16			(111)			740			(1)		NM
TOTAL NET REVENUE	$	1,215	$	1,480		$	1,703		$	1,538		$	2,304		(18)		(47)

NET INCOME/(LOSS)
Treasury and CIO	842		1,120			1,166			1,121			1,158			(25)		(27)
Other Corporate	(143)		(813)			(341)			574			535			82		NM
TOTAL NET INCOME	$	699	$	307		$	825		$	1,695		$	1,693		128		(59)

SELECTED BALANCE SHEET DATA (period-end)
Total assets	$	1,318,399	$	1,329,632		$	1,297,608		$	1,370,312		$	1,289,274		(1)		2
Loans	3,093		2,941			2,707			2,033			2,478			5		25
Deposits (c)	41,173		35,874			34,145			27,952			25,064			15		64

Employees (b)	55,360		55,390			55,523			55,310			56,368			—		(2)

SUPPLEMENTAL INFORMATION
TREASURY and CIO
Investment securities gains/(losses)	$	60	$	(72)		$	105		$	(54)		$	(37)		NM		NM
Available-for-sale securities (average)	529,500		502,641			495,777		(g)	462,179			391,997			5		35
Held-to-maturity securities (average) (d)	269,482		283,009			269,717		(g)	262,479			269,906			(5)		—
Investment securities portfolio (average)	$	798,982	$	785,650		$	765,494		$	724,658		$	661,903		2		21
Available-for-sale securities (period-end)	545,706		503,896			487,277		(g)	482,269			396,316			8		38
Held-to-maturity securities (period-end) (d)	272,142		270,134			293,446		(g)	260,559			265,084			1		3
Investment securities portfolio, net of allowance for credit losses (period-end) (e)	$	817,848	$	774,030		$	780,723		$	742,828		$	661,400		6		24

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

(c)Predominantly relates to the Firm's international consumer initiatives.

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

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

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

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

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

Page 23


JPMORGAN CHASE & CO.
CREDIT-RELATED INFORMATION
(in millions)


												Mar 31, 2026
												Change
	Mar 31,		Dec 31,		Sep 30,		Jun 30,			Mar 31,		Dec 31,		Mar 31,
	2026		2025		2025		2025			2025		2025		2025
CREDIT EXPOSURE
Consumer, excluding credit card loans (a)
Loans retained	$	367,274	$	368,741	$	369,859	$	371,855		$	372,892	—	%	(2)	%
Loans held-for-sale and loans at fair value	24,386		33,517		23,225		22,185			18,246		(27)		34
Total consumer, excluding credit card loans	391,660		402,258		393,084		394,040			391,138		(3)		—

Credit card loans
Loans retained	239,123		247,797		235,475		232,943			223,384		(4)		7

Total credit card loans	239,123		247,797		235,475		232,943			223,384		(4)		7
Total consumer loans	630,783		650,055		628,559		626,983			614,522		(3)		3

Wholesale loans (b)
Loans retained	818,839		792,367		764,451		740,675			704,714		3		16
Loans held-for-sale and loans at fair value	53,898		51,007		42,236		44,334			36,459		6		48
Total wholesale loans	872,737		843,374		806,687		785,009			741,173		3		18

Total loans	1,503,520		1,493,429		1,435,246		1,411,992			1,355,695		1		11
Derivative receivables	71,584		57,777		59,849		60,346			60,539		24		18
Receivables from customers (c)	64,844		47,336		68,493		53,099			49,403		37		31
Total credit-related assets	1,639,948		1,598,542		1,563,588		1,525,437			1,465,637		3		12

Lending-related commitments
Consumer, excluding credit card	46,236		43,587		48,015		47,064			46,149		6		—
Credit card (d)(e)	1,204,016		1,177,766		1,069,963		1,050,275			1,031,481		2		17
Wholesale	604,922		595,954		596,028		559,654		(h)	548,853		2		10
Total lending-related commitments	1,855,174		1,817,307		1,714,006		1,656,993			1,626,483		2		14

Total credit exposure	$	3,495,122	$	3,415,849	$	3,277,594	$	3,182,430		$	3,092,120	2		13

Memo: Total by category
Consumer exposure (f)	$	1,881,035	$	1,871,408	$	1,746,537	$	1,724,322		$	1,692,152	1		11
Wholesale exposure (g)	1,614,087		1,544,441		1,531,057		1,458,108			1,399,968		5		15
Total credit exposure	$	3,495,122	$	3,415,849	$	3,277,594	$	3,182,430		$	3,092,120	2		13

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

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

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

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

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

(f)Represents total consumer loans and lending-related commitments.

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

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

Page 24


JPMORGAN CHASE & CO.
CREDIT-RELATED INFORMATION, CONTINUED
(in millions, except ratio data)


																Mar 31, 2026
																Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,		Mar 31,
	2026			2025			2025			2025			2025			2025		2025
NONPERFORMING ASSETS (a)
Consumer nonaccrual loans
Loans retained	$	3,810		$	3,875		$	3,954		$	3,938		$	3,318		(2)	%	15	%
Loans held-for-sale and loans at fair value	589			798			646			731			441			(26)		34
Total consumer nonaccrual loans	4,399			4,673			4,600			4,669			3,759			(6)		17

Wholesale nonaccrual loans
Loans retained	4,524			4,398			4,740			4,479			3,895			3		16
Loans held-for-sale and loans at fair value	660			786			766			673			964			(16)		(32)
Total wholesale nonaccrual loans	5,184			5,184			5,506			5,152			4,859			—		7

Total nonaccrual loans	9,583			9,857			10,106			9,821			8,618			(3)		11

Derivative receivables	174			204			224			349			169			(15)		3
Assets acquired in loan satisfactions	292			298			305			310			318			(2)		(8)
Total nonperforming assets	10,049			10,359			10,635			10,480			9,105			(3)		10
Wholesale lending-related commitments (b)	916			925			1,025			922			793			(1)		16
Total nonperforming exposure	$	10,965		$	11,284		$	11,660		$	11,402		$	9,898		(3)		11

NONACCRUAL LOAN-RELATED RATIOS
Total nonaccrual loans to total loans	0.64		%	0.66		%	0.70		%	0.70		%	0.64		%
Total consumer, excluding credit card nonaccrual loans to
total consumer, excluding credit card loans	1.12			1.16			1.17			1.18			0.96
Total wholesale nonaccrual loans to total
wholesale loans	0.59			0.61			0.68			0.66			0.66

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

(b)Represents commitments that are risk rated as nonaccrual.

Page 25


JPMORGAN CHASE & CO.
CREDIT-RELATED INFORMATION, CONTINUED
(in millions, except ratio data)


	QUARTERLY TRENDS
																	1Q26 Change
	1Q26			4Q25				3Q25			2Q25			1Q25			4Q25		1Q25
SUMMARY OF CHANGES IN THE ALLOWANCES
ALLOWANCE FOR LOAN LOSSES
Beginning balance	$	25,765		$	25,735			$	24,953		$	25,208		$	24,345		—	%	6	%
Net charge-offs:
Gross charge-offs	2,911			3,099				3,181			2,944			2,816			(6)		3
Gross recoveries collected	(595)			(585)				(588)			(534)			(484)			(2)		(23)
Net charge-offs	2,316			2,514				2,593			2,410			2,332			(8)		(1)
Provision for loan losses	2,481			2,544				3,376			2,151			3,193			(2)		(22)
Other	(2)			—				(1)			4			2			NM		NM
Ending balance	$	25,928		$	25,765			$	25,735		$	24,953		$	25,208		1		3

ALLOWANCE FOR LENDING-RELATED COMMITMENTS
Beginning balance	$	5,071		$	2,964			$	2,932		$	2,226		$	2,101		71		141
Provision for lending-related commitments	23			2,107			(b)	31			706			125			(99)		(82)
Other	(3)			—				1			—			—			NM		NM
Ending balance	$	5,091		$	5,071			$	2,964		$	2,932		$	2,226		—		129

ALLOWANCE FOR INVESTMENT SECURITIES	$	78		$	106			$	105		$	108		$	118		(26)		(34)

Total allowance for credit losses (a)	$	31,097		$	30,942			$	28,804		$	27,993		$	27,552		1		13

NET CHARGE-OFF/(RECOVERY) RATES
Consumer retained, excluding credit card loans	0.17		%	0.19		%		0.12		%	0.14		%	0.18		%
Credit card retained loans	3.46			3.14				3.15			3.40			3.58
Total consumer retained loans	1.47			1.35				1.29			1.38			1.45
Wholesale retained loans	0.06			0.23				0.33			0.19			0.11
Total retained loans	0.67			0.72				0.76			0.73			0.74

Memo: Average retained loans
Consumer retained, excluding credit card loans	$	367,880		$	368,485			$	370,073		$	372,005		$	374,466		—		(2)
Credit card retained loans	239,220			239,356				234,354			228,320			224,350			—		7
Total average retained consumer loans	607,100			607,841				604,427			600,325			598,816			—		1
Wholesale retained loans	793,654			775,282				747,045			721,105			686,585			2		16
Total average retained loans	$	1,400,754		$	1,383,123			$	1,351,472		$	1,321,430		$	1,285,401		1		9

(a)At March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, excludes an allowance for credit losses associated with certain accounts receivable in CIB of $286 million, $288 million, $285 million, $288 million and $283 million, respectively.

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

Page 26


JPMORGAN CHASE & CO.
CREDIT-RELATED INFORMATION, CONTINUED
(in millions, except ratio data)


																Mar 31, 2026
																Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Dec 31,		Mar 31,
	2026			2025			2025			2025			2025			2025		2025
ALLOWANCE COMPONENTS AND RATIOS
ALLOWANCE FOR LOAN LOSSES
Consumer, excluding credit card
Asset-specific	$	(623)		$	(647)		$	(621)		$	(683)		$	(727)		4	%	14	%
Portfolio-based	2,412			2,567			2,524			2,532			2,585			(6)		(7)
Total consumer, excluding credit card	1,789			1,920			1,903			1,849			1,858			(7)		(4)
Credit card

Portfolio-based	15,559			15,557			15,554			15,001			15,000			—		4
Total credit card	15,559			15,557			15,554			15,001			15,000			—		4
Total consumer	17,348			17,477			17,457			16,850			16,858			(1)		3
Wholesale
Asset-specific	851			707			838			781			692			20		23
Portfolio-based	7,729			7,581			7,440			7,322			7,658			2		1
Total wholesale	8,580			8,288			8,278			8,103			8,350			4		3
Total allowance for loan losses	25,928			25,765			25,735			24,953			25,208			1		3
Allowance for lending-related commitments (a)	5,091			5,071			2,964			2,932			2,226			—		129
Allowance for investment securities	78			106			105			108			118			(26)		(34)
Total allowance for credit losses	$	31,097		$	30,942		$	28,804		$	27,993		$	27,552		1		13

CREDIT RATIOS
Consumer, excluding credit card allowance, to total
consumer, excluding credit card retained loans	0.49		%	0.52		%	0.51		%	0.50		%	0.50		%
Credit card allowance to total credit card retained loans	6.51			6.28			6.61			6.44			6.71
Wholesale allowance to total wholesale retained loans	1.05			1.05			1.08			1.09			1.18


Total allowance to total retained loans	1.82			1.83			1.88			1.85			1.94
Consumer, excluding credit card allowance, to consumer,
excluding credit card retained nonaccrual loans (b)	47			50			48			47			56
Total allowance, excluding credit card allowance, to retained
nonaccrual loans, excluding credit card nonaccrual loans (b)	124			123			117			118			142
Wholesale allowance to wholesale retained nonaccrual loans	190			188			175			181			214
Total allowance to total retained nonaccrual loans	311			311			296			296			349

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

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

Page 27

JPMORGAN CHASE & CO.

NON-GAAP FINANCIAL MEASURES

Non-GAAP Financial Measures

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

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

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

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



	QUARTERLY TRENDS
																1Q26 Change
(in millions, except rates)	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25		1Q25

Net interest income - reported	$	25,366		$	24,995		$	23,966		$	23,209		$	23,273		1	%	9	%
Fully taxable-equivalent adjustments	113			113			105			105			102			—		11
Net interest income - managed basis	$	25,479		$	25,108		$	24,071		$	23,314		$	23,375		1		9
Less: Markets net interest income	2,199			1,251			680			561			785			76		180
Net interest income excluding Markets	$	23,280		$	23,857		$	23,391		$	22,753		$	22,590		(2)		3

Average interest-earning assets	$	4,135,737		$	3,923,824		$	3,895,764		$	3,845,982		$	3,668,384		5		13
Less: Average Markets interest-earning assets	1,599,089			1,403,245			1,404,633			1,387,584			1,255,149			14		27
Average interest-earning assets excluding Markets	$	2,536,648		$	2,520,579		$	2,491,131		$	2,458,398		$	2,413,235		1		5

Net yield on average interest-earning assets - managed basis (a)	2.50		%	2.54		%	2.45		%	2.43		%	2.58		%
Net yield on average Markets interest-earning assets	0.56			0.35			0.19			0.16			0.25
Net yield on average interest-earning assets excluding Markets (a)	3.72			3.76			3.73			3.71			3.80

Noninterest revenue - reported	$	24,470		$	20,803		$	22,461		$	21,703		$	22,037		18		11
Fully taxable-equivalent adjustments	587			856			588			663			602			(31)		(2)
Noninterest revenue - managed basis	$	25,057		$	21,659		$	23,049		$	22,366		$	22,639		16		11
Less: Markets noninterest revenue	9,360			6,988			8,264			8,375			8,878			34		5
Noninterest revenue excluding Markets	$	15,697		$	14,671		$	14,785		$	13,991		$	13,761		7		14

Memo: Markets total net revenue	$	11,559		$	8,239		$	8,944		$	8,936		$	9,663		40		20

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

Page 28

Source: View Original Filing on SEC EDGAR

FAQ

How did JPM (JPMorgan Chase) perform financially in Q1 2026?

JPMorgan Chase reported strong Q1 2026 results with net income of $16.5 billion and diluted EPS of $5.94. Managed net revenue reached $50.5 billion, up 10% year over year, reflecting higher net interest income and solid fee growth across major business segments.

What were JPMorgan Chase’s revenue and earnings trends versus Q1 2025?

In Q1 2026, JPMorgan Chase’s managed net revenue rose to $50.5 billion, a 10% increase from Q1 2025. Net income increased from $14.6 billion to $16.5 billion, while diluted EPS grew from $5.07 to $5.94, highlighting broad-based profit expansion.

How profitable were JPMorgan Chase’s major business segments in Q1 2026?

Consumer & Community Banking generated $5.0 billion of net income and 32% ROE. The Commercial & Investment Bank delivered $9.0 billion and 21% ROE. Asset & Wealth Management earned $1.8 billion, with assets under management of $4.8 trillion, up 16% year over year.

What were JPMorgan Chase’s credit costs and reserve actions in Q1 2026?

Credit costs totaled $2.5 billion in Q1 2026, including $2.3 billion of net charge-offs and a $191 million net reserve build. A year earlier, credit costs were $3.3 billion with a $973 million net reserve build, indicating a lower overall provisioning burden this quarter.

How much capital did JPMorgan Chase return to shareholders in Q1 2026?

JPMorgan Chase returned substantial capital, paying a common dividend of $1.50 per share, or $4.1 billion in total, and executing $8.3 billion of common stock repurchases. The firm’s last-twelve-month net payout ratio was 82%, combining dividends and net buybacks.

What were JPMorgan Chase’s key capital and leverage ratios at March 31, 2026?

At March 31, 2026, JPMorgan Chase reported Basel III CET1 capital of $291 billion and a Standardized CET1 ratio of 14.3%. The Tier 1 leverage ratio was 6.6% and the supplementary leverage ratio was 5.6%, supported by total assets of $4.9 trillion.

Filing Exhibits & Attachments

6 documents

JPMorgan Chase (NYSE: JPM) Q1 2026 net income hits $16.5B

Rhea-AI Filing Summary

Positive

Negative

Insights

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did JPM (JPMorgan Chase) perform financially in Q1 2026?

What were JPMorgan Chase’s revenue and earnings trends versus Q1 2025?

How profitable were JPMorgan Chase’s major business segments in Q1 2026?

What were JPMorgan Chase’s credit costs and reserve actions in Q1 2026?

How much capital did JPMorgan Chase return to shareholders in Q1 2026?

What were JPMorgan Chase’s key capital and leverage ratios at March 31, 2026?

Filing Exhibits & Attachments

Press Releases

Other Documents

JPMorgan Chase (NYSE: JPM) Q1 2026 net income hits $16.5B

Rhea-AI Filing Summary

Positive

Negative

Insights

Banking sector analyst positive

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did JPM (JPMorgan Chase) perform financially in Q1 2026?

What were JPMorgan Chase’s revenue and earnings trends versus Q1 2025?

How profitable were JPMorgan Chase’s major business segments in Q1 2026?

What were JPMorgan Chase’s credit costs and reserve actions in Q1 2026?

How much capital did JPMorgan Chase return to shareholders in Q1 2026?

What were JPMorgan Chase’s key capital and leverage ratios at March 31, 2026?

How did JPMorgan Chase’s book value and tangible book value per share change?

Filing Exhibits & Attachments

Press Releases

Other Documents