Areas of Focus and Strategies EXPAND AFFORDABLE RENTAL HOUSING AND SUPPORT FOR VITAL IMPROVING FINANCIAL HEALTH AND ACCESS TO BANKING COMMUNITY INSTITUTIONS Our Firm’s breadth of resources allows us to make an impact in several areas that The Firm continues its eforts to improve the fnancial health and resiliency of our help to address the racial wealth gap and create economic opportunity for commu- We continue to pursue innovative fnancing solutions and work with new public customers and communities, with plans to open more branches—including Commu- nities historically left behind. The following explores each of the Racial Equity Com- resources to support the development of afordable housing and vital community nity Center branches in LMI communities, hire additional Community Managers, and mitment’s pillars and shares our strategic approaches. institutions. These eforts help create and preserve housing for LMI individuals and host more fnancial health workshops and community events to reach more people families. The Firm makes data-driven policy recommendations aimed at preserving across the country. We also continue to seek opportunities to innovate our products and increasing availability and equitable access to afordable housing for renters. to beneft customers. For instance, in 2022, we launched Early Direct Deposit, which INCREASING HOMEOWNERSHIP By ofering owners and operators rate discounts, nearly all of 2021 borrowers partic- allows customers to receive their paychecks two days early. This feature is exclu- We continue our eforts to advance equitable access to homeownership for Black, 15 sively for our Chase Secure Checking customers, a Bank On-certifed low-cost check- ipating in our Commercial Term Lending Afordable Housing Preservation Program INTRODUCTION Hispanic and Latino households. In doing so, we can help stabilize and revitalize maintained designated afordable rent pricing and re-qualifed for a discounted loan. ing account with no overdraft fees. communities across the country. Our commitment to increase homeownership with At the onset of our Racial Equity Commitment, we announced a $400 million ENVIRONMENTAL Black, Hispanic, and Latino customers is inclusive of every income level because INVESTING IN MINORITY DEPOSITORY INSTITUTIONS AND increase of Low Income Housing Tax Credit (“LIHTC”) investments. After meeting homeownership inequity exists across the fnancial spectrum. that initial $400 million target, the Firm increased its commitment to an incremen- COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS SOCIAL We execute on and enhance our six-pillar Community and Afordable Lending strategy, tal $400 million annually, totaling $2 billion in LIHTC investments over fve years. Our Firm understands and appreciates the unique role that Minority Depository Insti- Feature: Our Racial Equity with focus on investing in our people and partners as we continue to increase our pres- These investments leverage equity commitments to construct and rehabilitate tutions (“MDIs”) and Community Development Financial Institutions (“CDFIs”) play in Commitment ence in the communities we serve, enhancing our products and programs to expand afordable rental housing. To see an example of how our work with LIHTC and New our communities. Our support of these essential institutions helps them to maximize Inclusive Growth access to credit, and participating in policy reform to drive more inclusive growth. Market Tax Credits is helping redevelop communities, see our Evermont Los Angeles their impact and serve communities that have historically been underserved. Over Diversity, Equity and Inclusion Moreover, we advocate for change in our industry and innovate where we can. Addi- Bridge Housing Corp / Primestor Case Study on page 10. the last two years, the Firm has invested more than $100 million of equity in diverse- 13 Human Capital tionally, we have more than 160 Community Home Lending Advisors with a special owned and -led MDIs and CDFIs. Each MDI and CDFI is onboarded as a client and con- focus on serving home buyers in minority communities. We have established a Spe- GROWING SMALL BUSINESSES nected to the Firm’s expertise, network, and advisory support—including volunteers GOVERNANCE cial Purpose Credit Program (“SPCP”) to ofer a $5,000 Chase Homebuyer Grant for from the Firm’s Advancing Black Pathways Fellows and Service Corps programs. customers purchasing a home in over 11,000 majority Black and Hispanic/Latino As we support small businesses in majority Black, Hispanic and Latino communities, 14 we continue to review how the Firm evaluates credit applications, with the goal of communities. We also expanded the Community Lending Program incentive APPENDICES to SUPPLIER DIVERSITY expanding access to credit and introducing new product oferings. In 2022, we regional mortgage lenders that originate in Black and Hispanic/Latino communities across all Chase markets. launched a SPCP for small businesses in historically underserved areas. By the end We believe that diversifying our ecosystem of suppliers is good for our stakehold- of the year, we hired more than 40 local Senior Business Consultants who provide ers—including the businesses we work with, the communities in which they live and one-on-one coaching and host educational events, community workshops, and busi- serve, and for our own frm. As part of our commitment, we are dedicated to the ness training seminars to support minority entrepreneurs across 21 U.S. cities. development and utilization of qualifed Black, Hispanic, and Latino businesses. JPMorgan Chase has established a frst-of-its-kind supplier grant program to help qualifed Black, Hispanic and Latino-owned businesses access key compliance mea- sures that may be cost-prohibitive like cybersecurity, insurance bonding and other infrastructure costs. For more information on how the Firm is supporting its diverse suppliers, see page 33. 13 As of December 31, 2022. 14 The Chase Correspondent Community Lending Program is a Non-Delegated Agency program via Best Eforts Flow in targeted underserved markets. This program includes our standard Correspondent ofering and pricing incentives, reduced fees, expanded credit box and preferred underwriting status, with a dedicated program support team. 15 Borrowers qualify for the Preservation Program based on project documentation and afordability targets (>50% of the rental units are noted as afordable based on current rent levels of each unit and county area median income (“AMI”)). Borrowers in the Preservation Program beneft from a graduated interest rate discount to maintain rental unit afordability and must re-qualify annually. 26