Development Finance CUMULATIVE DEVELOPMENT FINANCE PROGRESS BY LINE OF BUSINESS INTRODUCTION The development fnance objective of the Target highlights the work of the J.P. Morgan Development Finance Institution 2021 $B 2022 $B Total $B (“JPM DFI”), which works to mobilize capital toward sustainable development projects in developing countries. The JPM CIB Investment Banking $51 $39 $90 Message from Our Chairman DFI qualifes CIB transactions with anticipated environmental and socioeconomic impacts. The JPM DFI also acts as development fnance structuring agent (“DFSA”) for a diverse set of corporate and sovereign transactions, which CIB Markets $66 $48 $114 Company at a Glance Our Approach to ESG involves assisting clients to measure and communicate the development impact of their transaction with investors and Development Finance Total $117 $87 $204 other stakeholders. It also seeks to expand the market for development fnance overall and grow the pool of investors Feature: $2.5T Sustainable interested in transactions that ofer fnancial returns and advance the SDGs. For more information, see the JPM DFI Development Target CUMULATIVE DEVELOPMENT FINANCE PROGRESS BY REGION 2022 Annual Report. I n 2022, approximately $87 billion of development fnance activity qualifed toward the Target. ENVIRONMENTAL 2021 $B 2022 $B Total $B In addition to the $87 bil- East Asia & Pacifc $38 $16 $54 lion, the JPM DFI qualifed CASE STUDY OUR TARGET IN ACTION: AXIAN TELECOM $11 billion which was SOCIAL South Asia $5 $2 $8 counted towards the green In February 2022, JPMorgan Chase acted as joint global coordinator and joint bookrunner, ratings advisor and objective instead of the GOVERNANCE Latin America & Caribbean $36 $19 $55 development fnance DFSA for a $420 million 5-year debut bond for AXIAN Telecom, a leading provider of telecommunications, mobile Eastern Europe & Central Asia $15 $18 $32 objective, per our method- money services and digital infrastructures operating across Africa. The bond issuance is expected to support the ology. The total $98 billion APPENDICES Company’s operations in Tanzania, Togo, and Uganda; to help address development gaps in access to afordable Sub-Saharan Africa $8 $4 $12 is refected in the JPM DFI telecommunication services; and to drive fnancial inclusion. This includes expanding its 4G network by adding Middle East & North Africa $2 $0 $2 2022 Annual Report. 2,325 new mobile antennas and 747 km of tower fber for high-speed internet through Tanzania and Togo; deploy- Global Development Institutions $13 $28 $40 ing solar-power sites in Uganda; growing mobile fnancial services and payment systems for small and medium enterprises; and fostering employment with targeted eforts on women participation. Development Finance Total $117 $87 $204 Note: Totals may not sum due to rounding. 9