Catalyzing Community Development Investing in communities is a route to expanding economic opportunity. Housing, in particular, is a central pillar of community development because access to a stable, affordable home is a leading determinant of income and wealth, health and overall quality of life. Yet for many U.S. households, especially Black, Hispanic and Latino households, an affordable housing crisis has put this access increasingly out of reach. For example, 43% of Black and 40% of Hispanic households spent more than 30% of their incomes on housing as of 2019, compared with 25% of White households. 30 Throug h lending, equity investments and philanthropic capital; community partnerships, and data and policy insights, JPMorgan Chase is helping to build stronger communities, with a concerted focus on housing. Financing the creation and preservation of affordable rental housing, and expanding access to homeownership, is also a core focus of our $30 billion Racial Equity Commitment (see page 21), because we know that the lack of affordable housing and rising costs of homeownership have been leading drivers of the racial wealth gap across the U.S. AFFORDABLE RENTAL HOUSING The Firm works to advance affordable housing solutions, bringing our industry expertise, a comprehensive set of financial tools and a strategy of combining our business and philanthropic efforts to create greater impact. As part our Racial Equity Commitment announced in October 2020, we pledged to expand on these efforts by financing the creation and preservation of 100,000 affordable rental units over five years through $14 billion in new loans, equity investments and other efforts. To help drive progress toward this goal, we created the Affordable Housing Preservation Program, which incentivizes landlords to keep rental units in their buildings at an affordable level. Thanks to these and other efforts, between October 2020 and December 2021, our Firm approved funding for approximately $13 billion in loans to help preserve more than 100,000 affordable housing and rental housing units across the U.S., and increased our Low-Income Housing Tax Credit investments by $400 million. HOMEOWNERSHIP Owning a home is critical to building wealth and ensuring financial stability over time. Yet, at the end of 2021, the homeownership gap between Black and White households was 31 percentage points – and was 26 percentage points between Hispanic and White households. 31 To help ad dress this gap, our Firm is expanding access to affordable homeownership through our home lending products and services, as well as through innovative homebuyer readiness programs and financial education services. As part of our Racial Equity Commitment (see page 21), we committed to originate an incremental 40,000 home purchase loans, or $8 billion in mortgages, for Black, Hispanic and Latino families over five years. We also committed to refinance an additional 20,000 mortgages, up to $4 billion in loans, to reduce mortgage payments for Black, Hispanic and Latino homeowners. To build the foundation to increase homeownership, we established a Community and Affordable Home Lending business. As part of this, we expanded our traditional home lending advisor network to include a new role called “Community Home Lending Advisor,” which is designed to be located in minority and low- to moderate- income communities. These individuals are experts in local housing and down payment assistance programs. By the end of 2021, we had hired more than 150 Community Home Lending Advisors nationwide. We also continue to enhance our home lending products to be more accessible to customers across the full economic spectrum. For example, to address two of the biggest barriers to homeownership, we expanded our Homebuyer Grant program to $5,000 to help more customers with closing costs and down payment assistance when buying a home in more than 6,700 majority minority communities nationwide. Home Lending continues to make progress in its lending commitments to Black, Hispanic and Latino communities: • During 2021, helped homeowners by refinancing 19,000 of the 20,000 incre - mental loans, nearly $5 billion. • Originated nearly 12,000 home purchase loans for Black, Hispanic and Latino households in 2021, totaling more than $4 billion. While the number of units was slightly below 2019 production volume, the Firm continues to pace towards originating an incremental 40,000 by 2025. 30 Source: https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_The_State_of_the_Nations_Housing_2020_Report_Revised_120720.pdf 31 Source: https://www.census.gov/housing/hvs/files/currenthvspress.pdf 43 INTRODUCTION ENVIRONMENTAL SOCIAL Feature: Our Commitment to Racial Equity Diversity, Equity & Inclusion Human Capital Inclusive Growth GOVERNANCE ESG REPORT APPENDICES