Advancing Climate and Sustainability Solutions Developing solutions to environmental challenges such as climate change is important to protecting our planet and creating long-term, sustainable economic growth. The financial sector has a unique role to play, particularly in mobilizing the capital necessary to develop new technologies and build sustainable infrastructure. At JPMorgan Chase, we are using our capabilities to promote sustainable business practices and help our clients respond to and drive new solutions to the challenges the world faces. This includes working with clients to support the transition to a low-carbon economy and providing sustainable investing and financing solutions. Supporting the Transition to a Low-Carbon Economy Climate change is one of the most critical challenges facing our planet and society. We are responding by minimizing the carbon footprint of our own physical operations (see page 17), and by leveraging our business to support and accelerate the global transition to a low-carbon economy. In recent years, many governments, businesses and NGOs have aligned around the collective ambition to reduce global emissions to net zero by 2050. However, the world is not on track to achieve this goal. Achieving net zero by 2050 requires transforming the global energy system, as well as making significant changes in how key goods and services are produced and delivered. The financial sector will play a key role in facilitating the substantial investment of this transition. As a global financial institution, our strategy is focused on providing financing, strategic advice and investment services to help clients adapt to and thrive in a low-carbon economy. OUR PATH TO NET-ZERO FINANCED EMISSIONS A key aspect of our low-carbon strategy is how we engage with our clients in carbon-intensive industries on their transition. In 2020, we pledged to align key sectors of our financing portfolio with the goals of the Paris Agreement. In May 2021, we became the first large U.S. bank to set 2030 targets – which we set as portfolio-level emissions intensity reduction targets for the Oil & Gas, Electric Power and Auto Manufacturing sectors – and published our Carbon Compass Methodology detailing our approach. We also announced our plans to expand our targets to new sectors of our financing portfolio over time. In October 2021, we joined the NZBA, a group convened by the United Nations Environment Programme Finance Initiative which brings together a global network of banks committed to aligning their lending and investment portfolios with net zero emissions by 2050. While thoughtful policy, technology and behavioral advancements are all prerequisites in realizing our common goals around net zero emissions by 2050, we joined the NZBA because we support the ambition for greater climate action, the sharing of best practices and a collaborative approach between the public and private sectors to reach this goal. We may further address important details of these efforts as they develop over time, including where we believe practical considerations may constrain our work against the ambitions of the NZBA – such as the necessity of technological advancements, the evolution of consumer behavior, the need for thoughtful climate policies around the world, the challenge of balancing short-term targets with the need to facilitate an orderly and just transition, and other critical considerations such as legal and regulatory obligations. Participating in industry initiatives will also support our efforts to develop targets for other sectors and engage with a growing number of clients who are aligning their strategies with widely-recognized and science-based emission reduction pathways. How We Are Implementing Our Targets Since setting our first portfolio-level emissions intensity reduction targets, we have focused on implementing them in the management of our Oil & Gas, Electric Power and Auto Manufacturing financing portfolios. As part of this, an assessment of our client's emissions and decarbonization plans is now factored into our decision-making while considering new transactions for in-scope clients in these sectors – for both lending and debt capital markets transactions. This assessment allows us to: 1) build in a view of our client's decarbonization trajectories during the decision-making process on a potential new transaction, as a factor in our usual approval processes, and 2) assess both our client's progress and in turn, our own progress towards our targets on an ongoing basis. 12 INTRODUCTION ENVIRONMENTAL Advancing Climate and Sustainability Solutions Operational Sustainability SOCIAL GOVERNANCE ESG REPORT APPENDICES