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JPMORGAN CHASE & CO

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 6, 2026

JPM$342.07-0.0%Stored close · as of Nov 10, 2026

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Contents

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholders of JPMorgan Chase & Co.:

Results of Review of Interim Financial Statements

We have reviewed the accompanying consolidated balance sheet of JPMorgan Chase & Co. and its subsidiaries (the “Firm”) as of June 30, 2026, and the related consolidated statements of income, comprehensive income and changes in stockholders’ equity for the three-month and six-month periods ended June 30, 2026 and 2025, and the consolidated statements of cash flows for the six-month periods ended June 30, 2026 and 2025, including the related notes (collectively referred to as the “interim financial statements”). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim financial statements for them to be in conformity with accounting principles generally accepted in the United States of America.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheet of the Firm as of December 31, 2025, and the related consolidated statements of income, comprehensive income, changes in stockholders’ equity and cash flows for the year then ended (not presented herein), and in our report dated February 13, 2026, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet information as of December 31, 2025, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.

Basis for Review Results

These interim financial statements are the responsibility of the Firm’s management. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Firm in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our review in accordance with the standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

August 6, 2026

PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017

JPMorgan Chase & Co.
Consolidated average balance sheets, interest and rates (unaudited)
(Taxable-equivalent interest and rates; in millions, except rates)
Three months ended June 30, 2026 · Three months ended June 30, 2025
Averagebalance · Interest(f) · Rate(annualized) · Averagebalance · Interest(f) · Rate(annualized)
Assets
Deposits with banks$336,127$2,3512.81%$405,213$3,3953.36%
Federal funds sold and securities purchased under resale agreements459,5134,2203.68432,7144,5784.24
Securities borrowed313,1542,5733.30234,0242,2113.79
Trading assets – debt instruments706,8177,4574.23562,9676,3094.50
Taxable securities780,4727,2063.70701,1966,6793.82
Nontaxable securities(a)27,4213234.7226,4553144.76
Total investment securities807,8937,5293.74(g)727,6516,9933.85(g)
Loans1,521,29524,5936.481,380,72623,1026.71
All other interest-earning assets(b)(c)143,1552,0125.64102,6871,7586.87
Total interest-earning assets4,287,95450,7354.753,845,98248,3465.04
Allowance for loan losses(25,877)(25,106)
Cash and due from banks24,43322,768
Trading assets – equity and other instruments287,124239,996
Trading assets – derivative receivables74,35257,601
Goodwill, MSRs and other intangible Assets64,32664,553
All other noninterest-earning assets264,776231,824
Total assets$4,977,088$4,437,618
Liabilities
Interest-bearing deposits$2,047,761$10,7612.11%$1,902,337$11,4012.40%
Federal funds purchased and securities loaned or sold under repurchase agreements725,8046,6763.69558,0435,9654.29
Short-term borrowings54,0135183.8455,0596074.42
Trading liabilities – debt and all other interest-bearingliabilities(d)(e)349,6932,4152.77300,1262,2783.04
Beneficial interests issued by consolidated VIEs28,0652753.9326,1852974.55
Long-term debt372,5044,4684.81348,3724,4845.16
Total interest-bearing liabilities3,577,84025,1132.823,190,12225,0323.15
Noninterest-bearing deposits637,817602,777
Trading liabilities – equity and other instruments(e)67,95844,159
Trading liabilities – derivative payables64,62240,865
All other liabilities, including the allowance for lending-related commitments264,509209,853
Total liabilities4,612,7464,087,776
Stockholders’ equity
Preferred stock21,19620,045
Common stockholders’ equity343,146329,797
Total stockholders’ equity364,342349,842
Total liabilities and stockholders’ equity$4,977,088$4,437,618
Interest rate spread1.93%1.89%
Net interest income and net yield on interest-earning assets$25,6222.40$23,3142.43
JPMorgan Chase & Co.
Consolidated average balance sheets, interest and rates (unaudited)
(Taxable-equivalent interest and rates; in millions, except rates)
Six months ended June 30, 2026 · Six months ended June 30, 2025
Averagebalance · Interest(f) · Rate(annualized) · Averagebalance · Interest(f) · Rate(annualized)
Assets
Deposits with banks$324,572$4,6682.90%$425,516$7,5343.57%
Federal funds sold and securities purchased under resale agreements448,7758,4053.78405,5078,7944.37
Securities borrowed299,9954,9413.32237,4944,5183.84
Trading assets – debt instruments694,65014,6904.26529,24211,8774.53
Taxable securities777,35114,1813.68669,83112,6713.81
Nontaxable securities(a)27,7436524.7426,6536244.72
Total investment securities805,09414,8333.72(g)696,48413,2953.85(g)
Loans1,503,81748,6716.531,360,17345,5736.76
All other interest-earning assets(b)(c)135,3633,8315.71103,2583,7107.25
Total interest-earning assets4,212,266100,0394.793,757,67495,3015.11
Allowance for loan losses(25,797)(24,724)
Cash and due from banks23,99522,659
Trading assets – equity and other instruments264,342232,772
Trading assets – derivative receivables71,35758,345
Goodwill, MSRs and other intangible Assets64,32164,495
All other noninterest-earning assets258,032225,803
Total assets$4,868,516$4,337,024
Liabilities
Interest-bearing deposits$2,019,830$21,0452.10%$1,872,777$22,4782.42%
Federal funds purchased and securities loaned or sold under repurchase agreements691,99812,8213.74511,88011,1544.39
Short-term borrowings54,7371,0433.8452,1901,1424.41
Trading liabilities – debt and all other interest-bearingliabilities(d)(e)337,1974,6782.80294,1664,3693.00
Beneficial interests issued by consolidated VIEs27,7935413.9225,9815934.60
Long-term debt370,0058,8104.80346,6688,8765.16
Total interest-bearing liabilities3,501,56048,9382.823,103,66248,6123.16
Noninterest-bearing deposits624,630595,140
Trading liabilities – equity and other instruments(e)62,52040,933
Trading liabilities – derivative payables59,99140,976
All other liabilities, including the allowance for lending-related commitments257,087209,198
Total liabilities4,505,7883,989,909
Stockholders’ equity
Preferred stock20,62420,029
Common stockholders’ equity342,104327,086
Total stockholders’ equity362,728347,115
Total liabilities and stockholders’ equity$4,868,516$4,337,024
Interest rate spread1.97%1.95%
Net interest income and net yield on interest-earning assets$51,1012.45$46,6892.51

(a)Represents securities which are tax-exempt for U.S. federal income tax purposes.

(b)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.

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

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

(e)The combined balance of trading liabilities – debt and equity instruments was $206.3 billion and $166.0 billion for the three months ended June 30, 2026 and 2025, respectively, and $196.7 billion and $161.7 billion for the six months ended June 30, 2026 and 2025, respectively.

(f)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.

(g)The annualized rate for securities based on amortized cost was 3.72% and 3.82% for the three months ended June 30, 2026 and 2025, respectively, and 3.70% and 3.82% for the six months ended June 30, 2026 and 2025, respectively, and does not give effect to changes in fair value that are reflected in AOCI.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.