Form 8-K BANK OF AMERICA CORP For: Jul 18

July 18, 2022 6:47 AM

1 Q2-22 Financial Highlights1 Q2-22 Business Segment Highlights1,2(B) Consumer Banking Global Wealth and Investment Management Global Banking Global Markets Bank of America Reports Q2-22 Net Income of $6.2 Billion; EPS of $0.73 Net Interest Income up 22% to $12.4 Billion; Average Loan Balances up 12% to $1.0 Trillion; Fourth Consecutive Quarter of Operating Leverage(A) See page 10 for endnotes. Amounts may not total due to rounding. 1 Financial Highlights and Business Segment Highlights are compared to the year-ago quarter unless noted. Loan and deposit balances are shown on an average basis unless noted. 2 The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. 3 Sum of ending deposits, loans and leases, including margin receivables, and consumer investments, excluding deposit sweep balances. 4 Represents the percentage of Consumer checking accounts that are estimated to be the customers' primary account based on multiple relationship factors (e.g., linked to their direct deposit). 5 Average loans and leases were $1,015B and $908B for Q2-22 and Q2-21. Excluding PPP loan balances of $3B and $20B, average loan and lease balances were $1,012B and $888B for the same periods. 6 Source: Dealogic as of July 1, 2022. 7 Return on average tangible common shareholders’ equity ratio and tangible book value per common share represent non-GAAP financial measures. For more information, see page 19. • Net income of $6.2 billion, or $0.73 per diluted share • Pretax income declined 14% to $6.9 billion reflecting a smaller reserve release than Q2-21(C) – Pretax, pre-provision income(D) increased 15% to $7.4 billion • Revenue, net of interest expense, increased 6% to $22.7 billion – Net interest income (NII)(E) up $2.2 billion, or 22%, to $12.4 billion, driven by higher interest rates, lower premium amortization and loan growth – Noninterest income declined $989 million, or 9%, to $10.2 billion, primarily reflecting weaker capital markets • Provision for credit losses of $523 million increased $2.1 billion – Net reserve release of $48 million vs. $2.2 billion release in Q2-21(C) – Net charge-offs of $571 million declined modestly • Noninterest expense increased by $228 million, or 2%, to $15.3 billion and included approximately $425 million recognized for certain regulatory matters • Average loan and lease balances up $107 billion, or 12%, to $1.0 trillion led by strong commercial loan growth as well as higher consumer balances; excluding Paycheck Protection Program (PPP), average loan and lease balances grew $124 billion5 • Average deposits up $123 billion, or 7%, to $2.0 trillion • Average Global Liquidity Sources of $1.0 trillion(F) • Common equity tier 1 (CET1) ratio 10.5% (Standardized)(G); returned $2.7 billion to shareholders through common stock dividends and share repurchases • Return on average common shareholders' equity ratio of 9.9%; return on average tangible common shareholders' equity ratio of 14.1%7 • Book value per common share of $29.87 rose 1% from Q1-22; tangible book value per common share of $21.137 rose 1% from Q1-22 • Net income of $1.0 billion • Sales and trading revenue up 17% to $4.2 billion, including net debit valuation adjustment (DVA) gains of $158 million; Fixed Income Currencies and Commodities (FICC) revenue of $2.5 billion and Equities revenue of $1.7 billion • Excluding net DVA(H), sales and trading revenue up 11% to $4.0 billion; FICC up 19% to $2.3 billion; Equities up 2% to $1.7 billion From Chair and CEO Brian Moynihan: “Our strong organic growth engine once again was evident in new account openings for checking, consumer investments, and small businesses, as well as net new Merrill and Private Bank households and new commercial banking customers. This solid client activity across our businesses, coupled with higher interest rates, drove strong net interest income growth and allowed us to perform well in a weakened capital markets environment. We grew revenue 6% and delivered our fourth straight quarter of operating leverage. “Our U.S. consumer clients remained resilient with continued strong deposit balances and spending levels. Loan growth continued across our franchise and our markets teams helped clients navigate significant volatility reflecting economic uncertainty. As we enter the second half of the year, we believe we are well-positioned to deliver for our shareholders while continuing to invest in our people, businesses and communities.” • Net income of $1.2 billion • Client balances of $3.4 trillion, down $286 billion, or 8%, driven by lower market valuations, partially offset by net client flows • Pretax margin improved to 28% from 26% • Client Activity – AUM balances of $1.4 trillion; $53 billion of AUM flows since Q2-21 – Average loan and lease balances of $219 billion up $25 billion, or 13%; 49 consecutive quarters of average loan and lease balance growth – Added more than 5,100 net new relationships across Merrill and Private Bank • Net income of $1.5 billion • Total investment banking fees (excl. self-led) of $1.1 billion, decreased 47%, reflecting weaker industry-wide underwriting activity this year • No. 3 in investment banking fees6 • Client Activity – Ending period loans and leases of $385 billion up $62 billion, or 19% – Global Transaction Services revenue of $2.4 billion up $583 million, or 32% • Net income of $2.9 billion • Client balances of $1.6 trillion up 4%3 • Record average deposits of more than $1 trillion, up $99 billion, or 10% • Combined credit/debit card spend of $221 billion, up 10% • Client Activity – Added ~241,000 net new Consumer checking accounts in Q2-22 – Record 35.1 million Consumer checking accounts with 92% being primary4 – Small Business checking accounts of 3.7 million, up 5% – Digital sales grew 20%

2 Bank of America Financial Highlights Three Months Ended ($ in billions, except per share data) 6/30/2022 3/31/2022 6/30/2021 Total revenue, net of interest expense $22.7 $23.2 $21.5 Provision for credit losses 0.5 — (1.6) Noninterest expense 15.3 15.3 15.0 Pretax income 6.9 7.9 8.0 Pretax, pre-provision income1(D) 7.4 7.9 6.4 Income tax expense 0.6 0.8 (1.2) Net Income 6.2 7.1 9.2 Diluted earnings per share $0.73 $0.80 $1.03 1 Pretax, pre-provision income represents a non-GAAP financial measure. For more information, see page 19. From Chief Financial Officer Alastair Borthwick: “Second quarter results once again demonstrate how our Responsible Growth strategy and diversified business model delivers for customers, clients, employees, shareholders and the communities we serve even in changing and challenging markets. Despite expenses recognized for certain regulatory matters in the quarter, we were able to hold expenses flat to the prior quarter, which included seasonally higher compensation expenses. “Asset quality remained strong with most metrics improving this quarter. We grew capital and book value compared to the prior quarter while supporting $38 billion of client loan demand and returned $2.7 billion back to shareholders. We believe our earnings generation over the next 18 months will provide ample capital to support growth, pay dividends, buy back shares and continue to invest in our people, platforms and communities as we grow into new regulatory capital level requirements.” Net Interest Income $10.2 $11.1 $11.4 $11.6 $12.4 1.61% 1.68% 1.67% 1.69% 1.86% Net Interest Income Net Interest Yield Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Average Loans and Leases $908 $921 $945 $978 $1,015 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Spotlight on Loan and NII Growth ($B) 1 1 Fully taxable equivalent (FTE) basis.

3 Consumer Banking1,2 Financial Results Three months ended ($ in millions) 6/30/2022 3/31/2022 6/30/2021 Total revenue2 $9,136 $8,813 $8,186 Provision for credit losses 350 (52) (697) Noninterest expense 4,959 4,921 4,859 Pretax income 3,827 3,944 4,024 Income tax expense 938 966 986 Net income $2,889 $2,978 $3,038 Business Highlights3(B) Three months ended ($ in billions) 6/30/2022 3/31/2022 6/30/2021 Average deposits $1,078.0 $1,056.1 $979.1 Average loans and leases 289.6 284.1 281.8 Consumer investment assets (EOP)6 315.2 357.6 345.8 Active mobile banking users (MM) 34.2 33.6 31.8 Number of financial centers 3,984 4,056 4,296 Efficiency ratio 54 % 56 % 59 % Return on average allocated capital 29 30 32 Total Consumer Credit Card3 Average credit card outstanding balances $81.0 $78.4 $73.4 Total credit/debit spend 220.5 198.5 200.3 Risk-adjusted margin 9.9 % 10.4 % 9.8 % 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. 3 The Consumer credit card portfolio includes Consumer Banking and GWIM. 4 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 5 Average loans and leases were $290B and $282B for Q2-22 and Q2-21. Excluding average PPP loan balances of $2B and $11B, average loan balances were $288B and $270B for the same periods. 6 Consumer investment assets includes client brokerage assets, deposit sweep balances and AUM in Consumer Banking. 7 Includes clients in Consumer, Small Business and GWIM. As of May 2022. 8 Household adoption represents households with consumer bank login activities in a 90-day period, as of May 2022. • Net income of $2.9 billion decreased 5% from Q2-21 as NII improvement was more than offset by increased provision expense due to a reserve release that benefited Q2-21(C) – 10% operating leverage(A) • Revenue of $9.1 billion increased 12%, from increased NII driven by higher balances and higher interest rates, partially offset by the impact of non- sufficient funds and overdraft policy changes • Provision for credit losses was $350 million primarily driven by loan growth and a dampening macroeconomic outlook, and increased $1.0 billion from Q2-21, which benefited from a reserve release(C) • Noninterest expense increased 2% to $5.0 billion, primarily driven by investments in the business Business Highlights1,3(B) • Record average deposits grew $99 billion, or 10%, to more than $1 trillion – 56% of deposits in checking accounts; 92% primary accounts4 • Average loans and leases increased $8 billion, or 3%, to $290 billion; average loans and leases, excluding PPP, grew $18 billion to $288 billion5 • Consumer investment assets6 declined $31 billion, or 9%, to $315 billion, driven by lower market valuations, partially offset by strong client flows from new and existing clients – $21 billion of client flows since Q2-21 – Record 3.4 million client accounts, up 6% • Combined credit/debit card spend up $20 billion, or 10%; credit card up 17% and debit card up 6%, to a record • 9.8 million total clients7 enrolled in Preferred Rewards, up 10%, with 99% annualized retention rate Digital Usage Continued to Grow1 • Record 72% of overall households8 actively using digital platforms • Record 42.7 million active digital banking users, up 5% or ~2.2 million • Over 1.6 million digital sales, up 20% • Record 2.8 billion digital logins • 17.0 million active Zelle® users, now including small businesses, sent and received 239 million transfers worth $73 billion, up 26% and 29% YoY, respectively • Clients booked ~911,000 digital appointments Continued Business Leadership • No. 1 in estimated U.S. Retail Deposits(a) • No. 1 Online Banking and Mobile Banking Functionality(b) • No. 1 in customer satisfaction with Merchant Services by J.D. Power(c) • No. 1 Small Business Lender(d) • Best Bank in the U.S.(e) • Best Consumer Digital Bank in the U.S.(f) • Certified by J.D. Power for providing outstanding client satisfaction for financial wellness support(g) See page 11 for Business Leadership sources.

4 Global Wealth and Investment Management1,2 Financial Results Three months ended ($ in millions) 6/30/2022 3/31/2022 6/30/2021 Total revenue2 $5,433 $5,476 $5,065 Provision for credit losses 33 (41) (62) Noninterest expense 3,875 4,015 3,813 Pretax income 1,525 1,502 1,314 Income tax expense 374 368 322 Net income $1,151 $1,134 $992 Business Highlights(B) Three months ended ($ in billions) 6/30/2022 3/31/2022 6/30/2021 Average deposits $363.9 $384.9 $333.5 Average loans and leases 219.3 210.9 194.0 Total client balances (EOP) 3,367.1 3,714.2 3,652.8 AUM flows 1.0 15.5 11.7 Pretax margin 28 % 27 % 26 % Return on average allocated capital 26 26 24 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. Continued Business Leadership • No. 1 on Forbes’ Best-in-State Wealth Advisors (2022), Top Women Wealth Advisors (2022), Top Women Wealth Advisors Best-in State (2022), and Top Next Generation Advisors (2021) • No. 1 on Barron’s Top 100 Women Financial Advisors List (2022) • No. 1 on Financial Planning's 'Top 40 Advisors Under 40' List (2022) • Celent Model Wealth Manager award for Client Experience (2022) • No. 1 in personal trust AUM(h) • Best Private Bank in the U.S. by Family Wealth Report(i) and Global Private Banker(j) • Best Philanthropy Offering in the U.S. by WealthBriefing(k) See page 11 for Business Leadership sources. • Net income increased $159 million, or 16%, to $1.2 billion – 6% operating leverage(A) • Revenue of $5.4 billion, up 7%, driven by the NII benefit from higher balances and higher interest rates • Noninterest expense increased 2% to $3.9 billion, driven by higher employee-related expenses Business Highlights1(B) • Total client balances decreased $286 billion, or 8%, to $3.4 trillion, driven by lower market valuations, partially offset by net client flows – AUM flows of $53 billion since Q2-21 – Average deposits increased $30 billion, or 9%, to $364 billion – Average loans and leases grew $25 billion, or 13%, to $219 billion, driven by residential mortgage lending, securities-based lending, and custom lending Merrill Wealth Management Highlights1 Client Activity and Advisor Engagement – Client balances of $2.8 trillion – AUM balances of $1.1 trillion – Added ~4,500 net new households in Q2-22 Digital Usage Continued to Grow – 81% of Merrill households digitally active across the enterprise – Continued growth of advisor/client digital communications; 358,000 households exchanged ~1.4 million secure messages – 77% households enrolled in eDelivery; 255,000 planning reports generated, up 59% from Q2-21 – Record 75% of eligible checks deposited through automated channels – Erica interactions increased 33% Client Engagement – Client balances of $547 billion – AUM balances of $303 billion – Added ~650 net new relationships in Q2-22, up 39% Bank of America Private Bank Highlights1 Digital Usage Continued to Grow – Record 86% of clients digitally active across the enterprise – 75% of eligible checks deposited through automated channels – Clients increasingly leveraging the convenience and effectiveness of our digital capabilities: ▪ Erica interactions up 40% ▪ Zelle® transactions up 41% ▪ Digital wallet transactions up 72%

5 Global Banking1,2,3 Financial Results Three months ended ($ in millions) 6/30/2022 3/31/2022 6/30/2021 Total revenue2,3 $5,006 $5,194 $5,090 Provision for credit losses 157 165 (831) Noninterest expense 2,799 2,683 2,599 Pretax income 2,050 2,346 3,322 Income tax expense 543 622 897 Net income $1,507 $1,724 $2,425 Business Highlights2(B) Three months ended ($ in billions) 6/30/2022 3/31/2022 6/30/2021 Average deposits $509.3 $539.9 $506.6 Average loans and leases 377.2 358.8 325.1 Total Corp. IB fees (excl. self- led)2 1.1 1.5 2.1 Global Banking IB fees2 0.7 0.9 1.2 Business Lending revenue 2.0 2.1 1.9 Global Transaction Services revenue4 2.4 2.1 1.8 Efficiency ratio 56 % 52 % 51 % Return on average allocated capital 14 16 23 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Revenue, net of interest expense. 4 Prior periods have been revised to conform to current-period presentation. • Net income of $1.5 billion decreased 38%, primarily driven by provision expense of $157 million versus a reserve release that benefited Q2-21(C) • Revenue of $5.0 billion decreased 2%, primarily driven by lower investment banking fees, mark-to- market losses related to leveraged finance positions and lower leasing-related revenue, partially offset by higher NII from the benefit of higher interest rates and strong loan growth • Provision for credit losses was $157 million primarily driven by a dampening macroeconomic outlook as well as loan growth, and increased $988 million from Q2-21, which benefited from a reserve release(C) • Noninterest expense of $2.8 billion increased $200 million, or 8%, primarily reflecting continued investments in the business including strategic hiring, and higher expenses recognized for certain regulatory matters Continued Business Leadership • Global Most Innovative Financial Institution – 2022(l) • World's Best Bank, North America’s Best Bank for Small to Medium-sized Enterprises, and Best Bank in the US(m) • Best Global Bank for Payments & Collections(n) • Model Bank for Corporate Digital Banking – For CashPro App(o) • Best Bank for Cash Management in North America(n) • World’s Best Bank for Payments and Treasury and North America’s Best Bank for Transaction Services(m) • Best Transaction Bank in North America, Best Supply Chain Finance Bank(p) • 2021 Quality, Share and Excellence Awards for U.S. Large Corporate Banking and Cash Management(q) • Outstanding Global Leader in Social Bonds, Outstanding Leader in Social Bonds and Sustainable Loans for North America(r) • Relationships with 74% of the Global Fortune 500; 95% of the U.S. Fortune 1,000 (2021) See page 11 for Business Leadership sources. Digital Usage Continued to Grow1 • 76% digitally active clients across commercial, corporate, and business banking clients (CashPro & BA360 platforms) (as of May 2022) • CashPro App Active Users increased 33% and sign- ins increased 46% (rolling 12 months), surpassing 1.8 million sign-ins in the past year • CashPro App Payment Approvals value was $537 billion, increasing 120% (rolling 12 months) • Global Payments to Digital Wallets increased 27% (rolling 12 months as of May 2022) Business Highlights1,2(B) • Average loans and leases increased $52 billion, or 16%, to $377 billion, reflecting strong client demand • Average deposits increased $3 billion, or 1%, to $509 billion • Total investment banking fees (excl. self-led) decreased $994 million, or 47%, to $1.1 billion

6 Global Markets1,2,3,6 Financial Results Three months ended ($ in millions) 6/30/2022 3/31/2022 6/30/2021 Total revenue2,3 $4,502 $5,292 $4,720 Net DVA4 158 69 (34) Total revenue (excl. net DVA)2,3,4 $4,344 $5,223 $4,754 Provision for credit losses 8 5 22 Noninterest expense(I) 3,109 3,117 3,471 Pretax income 1,385 2,170 1,227 Income tax expense 367 575 319 Net income $1,018 $1,595 $908 Net income (excl. net DVA)4 $898 $1,543 $934 Business Highlights2(B) Three months ended ($ in billions) 6/30/2022 3/31/2022 6/30/2021 Average total assets $866.7 $858.7 $797.6 Average trading-related assets 606.1 596.2 566.8 Average loans and leases 114.4 108.6 87.8 Sales and trading revenue2 4.2 4.7 3.6 Sales and trading revenue (excl. net DVA)2(H) 4.0 4.7 3.6 Global Markets IB fees2 0.5 0.6 1.0 Efficiency ratio 69 % 59 % 74 % Return on average allocated capital 10 15 10 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Revenue, net of interest expense. 4 Revenue and net income, excluding net DVA, are non-GAAP financial measures. See endnote H on page 10 for more information. 5 VaR model uses a historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Average VaR was $118MM, $79MM and $77MM for Q2-22, Q1-22 and Q2-21, respectively. 6 The explanations for current period-over-period changes for Global Markets are the same for amounts including and excluding net DVA. • Net income increased $110 million to $1.0 billion – Excluding net DVA, net income decreased 4% to $898 million4 • Revenue of $4.5 billion decreased 5%, primarily driven by lower investment banking fees and mark- to-market losses related to leveraged finance positions, partially offset by higher sales and trading revenue – Excluding net DVA, revenue decreased 9%4 • Noninterest expense decreased $362 million, or 10%, to $3.1 billion, primarily driven by the absence of expenses related to a liquidating business activity, which was realigned from Global Markets to All Other(l) in Q4-21, partially offset by higher expenses recognized for certain regulatory matters • Average VaR of $118 million5 Business Highlights1,2,6(B) • Sales and trading revenue increased 17% to $4.2 billion – FICC revenue increased to $2.5 billion, driven by improved performance across all macro products, partially offset by a weaker trading performance in credit products – Equities revenue increased to $1.7 billion, driven by a strong trading performance in derivatives offset by a weaker trading performance in cash • Excluding net DVA, sales and trading revenue increased 11% to $4.0 billion(H) – FICC revenue increased 19% to $2.3 billion – Equities revenue increased 2% to $1.7 billion Additional Highlights • 650+ research analysts covering 3,400+ companies, 1,140 corporate bond issuers across 56 economies and 24 industries Continued Business Leadership • Global Derivatives House of the Year(s) • Clearing House of the Year(s) • Interest Rate Derivatives House of the Year(t) • Global Leader for Sustainable Project Finance(l) • No. 2 Global Research Firm(u) • No. 2 Global Fixed Income Research Team(u) • No. 1 Municipal Bonds Underwriter(v) See page 11 for Business Leadership sources.

7 All Other1,2 Financial Results Three months ended ($ in millions) 6/30/2022 3/31/2022 6/30/2021 Total revenue2 $(1,286) $(1,441) $(1,485) Provision for credit losses (25) (47) (53) Noninterest expense(I) 531 583 303 Pretax loss (1,792) (1,977) (1,735) Income tax expense (benefit) (1,474) (1,613) (3,596) Net income (loss) $(318) $(364) $1,861 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. Note: All Other primarily consists of asset and liability management (ALM) activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass interest rate and foreign currency risk management activities for which substantially all of the results are allocated to our business segments. • Net loss of $318 million compared to net income of $1.9 billion in Q2-21, driven by the absence of a $2.0 billion positive income tax adjustment related to the revaluation of U.K. deferred tax assets in Q2-21 – Revenue increased $199 million, reflecting the absence of approximately $150 million of structured notes losses which impacted the prior year – Noninterest expense increased $228 million vs. Q2-21, driven primarily by expenses recognized for certain regulatory matters and the realignment of a liquidating business activity from Global Markets to All Other(I) in Q4-21, partially offset by decreases in other expenses • Total corporate effective tax rate (ETR) for the quarter was 9.4% driven by recurring ESG tax credit benefits and approximately $300 million in discrete tax benefits related to the resolution of certain tax matters. Excluding ESG tax credits and these discrete tax benefits, the ETR would have been approximately 26%

8 Credit Quality1 Highlights Three months ended ($ in millions) 6/30/2022 3/31/2022 6/30/2021 Provision for credit losses $523 $30 ($1,621) Net charge-offs 571 392 595 Net charge-off ratio2 0.23 % 0.16 % 0.27 % At period-end Nonperforming loans and leases $4,164 $4,625 $4,907 Nonperforming loans and leases ratio 0.41 % 0.47 % 0.54 % Allowance for loan and lease losses $11,973 $12,104 $14,095 Allowance for loan and lease losses ratio3 1.17 % 1.23 % 1.55 % 1 Comparisons are to the year-ago quarter unless noted. 2 Net charge-off ratio is calculated as annualized net charge-offs divided by average outstanding loans and leases during the period. 3 Allowance for loan and lease losses ratio is calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period. Note: Ratios do not include loans accounted for under the fair value option. Charge-offs • Total net charge-offs of $571 million increased $179 million, or 46%, from Q1-22 – Consumer net charge-offs of $525 million increased $185 million from Q1-22, including $85 million from non-core mortgage sales – Commercial net charge-offs of $46 million remained low • Net charge-off ratio of 23 basis points increased 7 basis points from Q1-22; excluding the non-core mortgage sales, net charge-off ratio remained near historical lows2 Provision for credit losses • Provision for credit losses of $523 million – Reserves remained relatively flat to prior quarter as builds for loan growth and the impact of a dampening macroeconomic outlook were offset by asset quality improvement and reduced pandemic uncertainty(C) Allowance for credit losses • Allowance for loan and lease losses of $12.0 billion represented 1.17% of total loans and leases3 – Total allowance of $13.4 billion included $1.5 billion for unfunded commitments • Nonperforming loans decreased $461 million from Q1-22 to $4.2 billion – 60% of Consumer nonperforming loans are contractually current • Commercial reservable criticized utilized exposure of $18.1 billion decreased $2.6 billion from Q1-22, driven by declines across a broad range of industries

9 Balance Sheet, Liquidity and Capital Highlights ($ in billions except per share data, end of period, unless otherwise noted)(B) Three months ended 6/30/2022 3/31/2022 6/30/2021 Ending Balance Sheet Total assets $3,111.6 $3,238.2 $3,029.9 Total loans and leases 1,030.8 993.1 918.9 Total loans and leases in business segments (excluding All Other) 1,019.9 978.1 900.6 Total deposits 1,984.3 2,072.4 1,909.1 Average Balance Sheet Average total assets $3,157.9 $3,207.7 $3,015.1 Average loans and leases 1,014.9 977.8 907.9 Average deposits 2,012.1 2,045.8 1,888.8 Funding and Liquidity Long-term debt $275.7 $278.7 $274.6 Global Liquidity Sources, average(F) 984 1,109 1,063 Equity Common shareholders’ equity $240.0 $239.5 $253.7 Common equity ratio 7.7 % 7.4 % 8.4 % Tangible common shareholders’ equity1 $169.8 $169.3 $183.4 Tangible common equity ratio1 5.6 % 5.3 % 6.2 % Per Share Data Common shares outstanding (in billions) 8.04 8.06 8.49 Book value per common share $29.87 $29.70 $29.89 Tangible book value per common share1 21.13 20.99 21.61 Regulatory Capital(G) CET1 capital $171.8 $169.9 $178.8 Standardized approach Risk-weighted assets $1,640 $1,639 $1,552 CET1 ratio 10.5 % 10.4 % 11.5 % Advanced approaches Risk-weighted assets $1,409 $1,416 $1,380 CET1 ratio 12.2 % 12.0 % 13.0 % Supplementary leverage Supplementary leverage ratio (SLR) 5.5 % 5.4 % 5.9 % 1 Represents a non-GAAP financial measure. For reconciliation, see page 19.

10 A Operating leverage is calculated as the year-over-year percentage change in revenue, net of interest expense, less the percentage change in noninterest expense. B We present certain key financial and nonfinancial performance indicators (KPIs) that management uses when assessing consolidated and/or segment results. We believe this information is useful because it provides management and investors with information about underlying operational performance and trends. KPIs are presented in Balance Sheet, Liquidity and Capital Highlights and on the Segment pages for each segment. C Reserve Build (or Release) is calculated by subtracting net charge-offs for the period from the provision for credit losses recognized in that period. The period-end allowance, or reserve, for credit losses reflects the beginning of the period allowance adjusted for net charge-offs recorded in that period plus the provision for credit losses recognized in that period. D Pretax, pre-provision income (PTPI) is a non-GAAP financial measure calculated by adjusting consolidated pretax income to add back provision for credit losses. Management believes that PTPI is a useful financial measure as it enables an assessment of the Company’s ability to generate earnings to cover credit losses through a credit cycle and provides an additional basis for comparing the Company's results of operations between periods by isolating the impact of provision for credit losses, which can vary significantly between periods. For Reconciliations to GAAP financial measures, see page 19. E We also measure NII on an FTE basis, which is a non-GAAP financial measure. FTE basis is a performance measure used in operating the business that management believes provides investors with meaningful information on the interest margin for comparative purposes. We believe that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practice. NII on an FTE basis was $12.5 billion, $11.7 billion and $10.3 billion for the three months ended June 30, 2022, March 31, 2022 and June 30, 2021, respectively. The FTE adjustment was $103 million, $106 million and $110 million for the three months ended June 30, 2022, March 31, 2022 and June 30, 2021, respectively. F Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, inclusive of U.S. government securities, U.S. agency securities, U.S. agency mortgage-backed securities, and a select group of non-U.S. government and supranational securities, and other investment-grade securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity among legal entities may be subject to certain regulatory and other restrictions. G Regulatory capital ratios at June 30, 2022 are preliminary. The Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which for Common equity tier 1 (CET1) is the Standardized approach for all periods presented. H The below table includes Global Markets sales and trading revenue, excluding net DVA, which is a non-GAAP financial measure. We believe that the presentation of measures that exclude this item is useful because such measures provide additional information to assess the underlying operational performance and trends of our businesses and to allow better comparison of period-to-period operating performance. For the three months ended June 30, 2022, March 31, 2022 and June 30, 2021, net DVA gains (losses) were $158 million, $69 million and $(34) million, FICC net DVA gains (losses) were $160 million, $60 million and $(28) million, and Equities net DVA gains (losses) were $(2) million, $9 million and $(6) million, respectively. I Effective October 1, 2021, a business activity previously included in the Global Markets segment is being reported as a liquidating business in All Other, consistent with a realignment in performance reporting to senior management. The activity was not material to Global Markets' results of operations, and historical results for the second quarter of 2021 were not restated. Endnotes Three months ended (Dollars in millions) 6/30/2022 3/31/2022 6/30/2021 Sales and trading revenue: Fixed-income, currencies and commodities $ 2,500 $ 2,708 $ 1,937 Equities 1,653 2,011 1,624 Total sales and trading revenue $ 4,153 $ 4,719 $ 3,561 Sales and trading revenue, excluding net debit valuation adjustment: Fixed-income, currencies and commodities $ 2,340 $ 2,648 $ 1,965 Equities 1,655 2,002 1,630 Total sales and trading revenue, excluding net debit valuation adjustment $ 3,995 $ 4,650 $ 3,595

11 (a) Estimated U.S. retail deposits based on June 30, 2021 FDIC deposit data. (b) Keynova 2Q22 Online Banker Scorecard, Javelin 2021 Online and Mobile Banking Scorecards. (c) Bank of America received the highest score in the J.D. Power 2022 Merchant Services Satisfaction Study of customers’ satisfaction with credit card/debit payment processors among small business owners/operators. Visit jdpower.com/awards for more details. (d) FDIC, 1Q22. (e) Global Finance, May 2022. (f) Global Finance, August 2021. (g) J.D. Power 2022 Financial Health Support CertificationSM is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards. (h) Industry Q1-22 FDIC call reports. (i) Family Wealth Report, 2022. (j) Global Private Banking, The Digital Banker, 2021. (k) WealthBriefing, 2022. (l) Global Finance, 2022. (m) Euromoney, 2022. (n) Global Finance Treasury & Cash Management Awards, 2022. (o) Celent, 2022. (p) Transaction Banking Awards, The Banker, 2021. (q) Greenwich, 2022. (r) Global Finance, 2021. (s) GlobalCapital, 2021. (t) Risk.net, 2022. (u) Institutional Investor, 2021. (v) Refinitiv, 2022 YTD. Business Leadership Sources

12 Contact Information and Investor Conference Call Invitation Investor Call Information Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss second- quarter 2022 financial results in a conference call at 8:30 a.m. ET today. The presentation and supporting materials can be accessed on the Bank of America Investor Relations website at https://investor.bankofamerica.com. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international). The conference ID is 79795. Please dial in 10 minutes prior to the start of the call. Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from July 18 through 11:59 p.m. ET on July 28. Investors May Contact: Lee McEntire, Bank of America Phone: 1.980.388.6780 [email protected] Jonathan G. Blum, Bank of America (Fixed Income) Phone: 1.212.449.3112 [email protected] Bank of America Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. Forward-Looking Statements Bank of America Corporation (the “Corporation”) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Corporation’s current expectations, plans or forecasts of its future results, revenues, provision for credit losses, expenses, efficiency ratio, capital measures, strategy, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Corporation’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward- looking statements. Reporters May Contact: Bill Halldin, Bank of America Phone: 1.916.718.1251 [email protected] Christopher Feeney, Bank of America Phone: 1.980.386.6794 (office) [email protected]

13 You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of the Corporation’s 2021 Annual Report on Form 10-K and in any of the Corporation’s subsequent Securities and Exchange Commission filings: the Corporation’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions, including as a result of our participation in and execution of government programs related to the Coronavirus Disease 2019 (COVID-19) pandemic, such as the processing of unemployment benefits for California and certain other states; the possibility that the Corporation's future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation, and regulatory and government actions; the possibility that the Corporation could face increased claims from one or more parties involved in mortgage securitizations; the Corporation’s ability to resolve representations and warranties repurchase and related claims; the risks related to the discontinuation of the London Interbank Offered Rate and other reference rates, including increased expenses and litigation and the effectiveness of hedging strategies; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Corporation’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, inflation, currency exchange rates, economic conditions, trade policies and tensions, including tariffs, and potential geopolitical instability; the impact of the interest rate and inflationary environment on the Corporation’s business, financial condition and results of operations; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; potential losses related to the Corporation’s concentration of credit risk; the Corporation's ability to achieve its expense targets and expectations regarding revenue, net interest income, provision for credit losses, net charge-offs, effective tax rate, loan growth or other projections; adverse changes to the Corporation’s credit ratings from the major credit rating agencies; an inability to access capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of the Corporation’s assets and liabilities; the estimated or actual impact of changes in accounting standards or assumptions in applying those standards; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements; the impact of adverse changes to total loss-absorbing capacity requirements, stress capital buffer requirements and/or global systemically important bank surcharges; the potential impact of actions of the Board of Governors of the Federal Reserve System on the Corporation’s capital plans; the effect of changes in or interpretations of income tax laws and regulations; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including, but not limited to, recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, the Volcker Rule, fiduciary standards, derivatives regulations and the Coronavirus Aid, Relief, and Economic Security Act and any similar or related rules and regulations; a failure or disruption in or breach of the Corporation’s operational or security systems or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the risks related to the transition and physical impacts of climate change; our ability to achieve environmental, social and governance goals and commitments or the impact of any changes in the Corporation's sustainability strategy or commitments generally; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in fiscal, monetary or regulatory policy; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on U.S. and/or global financial market conditions and our business, results of operations, financial condition and prospects; the impact of natural disasters, extreme weather events, military conflict (including the Russia/Ukraine conflict and potential geopolitical consequences), terrorism or other geopolitical events; and other matters. Forward-looking statements speak only as of the date they are made, and the Corporation undertakes no obligation to update any forward- looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”) or other affiliates, including, in the United States, BofA Securities, Inc., Merrill Lynch Professional Clearing Corp. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, each of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured · May Lose Value · Are Not Bank Guaranteed. Bank of America Corporation’s broker-dealers are not banks and are separate legal entities from their bank affiliates. The obligations of the broker-dealers are not obligations of their bank affiliates (unless explicitly stated otherwise), and these bank affiliates are not responsible for securities sold, offered, or recommended by the broker-dealers. The foregoing also applies to other non-bank affiliates. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom at https://newsroom.bankofamerica.com. www.bankofamerica.com

Current-period information is preliminary and based on company data available at the time of the presentation. 14 Bank of America Corporation and Subsidiaries Selected Financial Data (In millions, except per share data) Six Months Ended June 30 Second Quarter 2022 First Quarter 2022 Second Quarter 2021Summary Income Statement 2022 2021 Net interest income $ 24,016 $ 20,430 $ 12,444 $ 11,572 $ 10,233 Noninterest income 21,900 23,857 10,244 11,656 11,233 Total revenue, net of interest expense 45,916 44,287 22,688 23,228 21,466 Provision for credit losses 553 (3,481) 523 30 (1,621) Noninterest expense 30,592 30,560 15,273 15,319 15,045 Income before income taxes 14,771 17,208 6,892 7,879 8,042 Income tax expense 1,457 (66) 645 812 (1,182) Net income $ 13,314 $ 17,274 $ 6,247 $ 7,067 $ 9,224 Preferred stock dividends 782 750 315 467 260 Net income applicable to common shareholders $ 12,532 $ 16,524 $ 5,932 $ 6,600 $ 8,964 Average common shares issued and outstanding 8,129.3 8,660.4 8,121.6 8,136.8 8,620.8 Average diluted common shares issued and outstanding 8,182.2 8,776.2 8,163.1 8,202.1 8,735.5 Summary Average Balance Sheet Total debt securities $ 960,709 $ 842,566 $ 945,927 $ 975,656 $ 895,902 Total loans and leases 996,442 907,812 1,014,886 977,793 907,900 Total earning assets 2,743,266 2,530,563 2,707,090 2,779,844 2,578,668 Total assets 3,182,640 2,947,542 3,157,855 3,207,702 3,015,113 Total deposits 2,028,852 1,847,520 2,012,079 2,045,811 1,888,834 Common shareholders’ equity 241,185 250,302 239,523 242,865 250,948 Total shareholders’ equity 268,750 274,341 268,197 269,309 274,632 Performance Ratios Return on average assets 0.84 % 1.18 % 0.79 % 0.89 % 1.23 % Return on average common shareholders’ equity 10.48 13.31 9.93 11.02 14.33 Return on average tangible common shareholders’ equity (1) 14.78 18.51 14.05 15.51 19.90 Per Common Share Information Earnings $ 1.54 $ 1.91 $ 0.73 $ 0.81 $ 1.04 Diluted earnings 1.53 1.90 0.73 0.80 1.03 Dividends paid 0.42 0.36 0.21 0.21 0.18 Book value 29.87 29.89 29.87 29.70 29.89 Tangible book value (1) 21.13 21.61 21.13 20.99 21.61 Summary Period-End Balance Sheet June 30 2022 March 31 2022 June 30 2021 Total debt securities $ 932,910 $ 969,880 $ 940,314 Total loans and leases 1,030,766 993,145 918,928 Total earning assets 2,662,871 2,783,186 2,608,408 Total assets 3,111,606 3,238,223 3,029,894 Total deposits 1,984,349 2,072,409 1,909,142 Common shareholders’ equity 239,984 239,480 253,678 Total shareholders’ equity 269,118 266,617 277,119 Common shares issued and outstanding 8,035.2 8,062.1 8,487.2 Six Months Ended June 30 Second Quarter 2022 First Quarter 2022 Second Quarter 2021Credit Quality 2022 2021 Total net charge-offs $ 963 $ 1,418 $ 571 $ 392 $ 595 Net charge-offs as a percentage of average loans and leases outstanding (2) 0.20 % 0.32 % 0.23 % 0.16 % 0.27 % Provision for credit losses $ 553 $ (3,481) $ 523 $ 30 $ (1,621) June 30 2022 March 31 2022 June 30 2021 Total nonperforming loans, leases and foreclosed properties (3) $ 4,326 $ 4,778 $ 5,031 Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties (3) 0.42 % 0.48 % 0.55 % Allowance for loan and lease losses $ 11,973 $ 12,104 $ 14,095 Allowance for loan and lease losses as a percentage of total loans and leases outstanding (2) 1.17 % 1.23 % 1.55 % For footnotes, see page 15.

Current-period information is preliminary and based on company data available at the time of the presentation. 15 Bank of America Corporation and Subsidiaries Selected Financial Data (continued) (Dollars in millions) Capital Management June 30 2022 March 31 2022 June 30 2021 Regulatory capital metrics (4): Common equity tier 1 capital $ 171,754 $ 169,874 $ 178,818 Common equity tier 1 capital ratio - Standardized approach 10.5 % 10.4 % 11.5 % Common equity tier 1 capital ratio - Advanced approaches 12.2 12.0 13.0 Tier 1 leverage ratio 6.5 6.3 6.9 Supplementary leverage ratio 5.5 5.4 5.9 Tangible equity ratio (5) 6.5 6.2 7.0 Tangible common equity ratio (5) 5.6 5.3 6.2 (1) Return on average tangible common shareholders’ equity and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. See Reconciliations to GAAP Financial Measures on page 18. (2) Ratios do not include loans accounted for under the fair value option. Charge-off ratios are annualized for the quarterly presentation. (3) Balances do not include past due consumer credit card loans, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully insured home loans), and in general, other consumer and commercial loans not secured by real estate, and nonperforming loans held for sale or accounted for under the fair value option. (4) Regulatory capital ratios at June 30, 2022 are preliminary. Bank of America Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which for Common equity tier 1 (CET1) is the Standardized approach for all periods presented. (5) Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. See Reconciliations to GAAP Financial Measures on page 19.

Current-period information is preliminary and based on company data available at the time of the presentation. 16 Bank of America Corporation and Subsidiaries Quarterly Results by Business Segment and All Other (Dollars in millions) Second Quarter 2022 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 9,136 $ 5,433 $ 5,006 $ 4,502 $ (1,286) Provision for credit losses 350 33 157 8 (25) Noninterest expense 4,959 3,875 2,799 3,109 531 Net income (losses) 2,889 1,151 1,507 1,018 (318) Return on average allocated capital (1) 29 % 26 % 14 % 10 % n/m Balance Sheet Average Total loans and leases $ 289,595 $ 219,277 $ 377,248 $ 114,375 $ 14,391 Total deposits 1,078,020 363,943 509,261 41,192 19,663 Allocated capital (1) 40,000 17,500 44,500 42,500 n/m Quarter end Total loans and leases $ 294,570 $ 221,705 $ 385,376 $ 118,290 $ 10,825 Total deposits 1,077,215 347,991 499,714 40,055 19,374 First Quarter 2022 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 8,813 $ 5,476 $ 5,194 $ 5,292 $ (1,441) Provision for credit losses (52) (41) 165 5 (47) Noninterest expense 4,921 4,015 2,683 3,117 583 Net income (loss) 2,978 1,134 1,724 1,595 (364) Return on average allocated capital (1) 30 % 26 % 16 % 15 % n/m Balance Sheet Average Total loans and leases $ 284,068 $ 210,937 $ 358,807 $ 108,576 $ 15,405 Total deposits 1,056,100 384,902 539,912 44,393 20,504 Allocated capital (1) 40,000 17,500 44,500 42,500 n/m Quarter end Total loans and leases $ 286,322 $ 214,273 $ 367,423 $ 110,037 $ 15,090 Total deposits 1,088,940 385,288 533,820 43,371 20,990 Second Quarter 2021 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 8,186 $ 5,065 $ 5,090 $ 4,720 $ (1,485) Provision for credit losses (697) (62) (831) 22 (53) Noninterest expense 4,859 3,813 2,599 3,471 303 Net income 3,038 992 2,425 908 1,861 Return on average allocated capital (1) 32 % 24 % 23 % 10 % n/m Balance Sheet Average Total loans and leases $ 281,767 $ 193,988 $ 325,110 $ 87,826 $ 19,209 Total deposits 979,072 333,487 506,618 55,584 14,073 Allocated capital (1) 38,500 16,500 42,500 38,000 n/m Quarter end Total loans and leases $ 282,900 $ 198,361 $ 323,256 $ 96,105 $ 18,306 Total deposits 987,655 330,624 520,026 57,297 13,540 (1) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently. n/m = not meaningful The Company reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis.

Current-period information is preliminary and based on company data available at the time of the presentation. 17 Bank of America Corporation and Subsidiaries Year-to-Date Results by Business Segment and All Other (Dollars in millions) Six Months Ended June 30, 2022 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 17,949 $ 10,909 $ 10,200 $ 9,794 $ (2,727) Provision for credit losses 298 (8) 322 13 (72) Noninterest expense 9,880 7,890 5,482 6,226 1,114 Net income 5,867 2,285 3,231 2,613 (682) Return on average allocated capital (1) 30 % 26 % 15 % 12 % n/m Balance Sheet Average Total loans and leases $ 286,846 $ 215,130 $ 368,078 $ 111,492 $ 14,896 Total deposits 1,067,120 374,365 524,502 42,784 20,081 Allocated capital (1) 40,000 17,500 44,500 42,500 n/m Period end Total loans and leases $ 294,570 $ 221,705 $ 385,376 $ 118,290 $ 10,825 Total deposits 1,077,215 347,991 499,714 40,055 19,374 Six Months Ended June 30, 2021 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 16,255 $ 10,036 $ 9,722 $ 10,918 $ (2,423) Provision for credit losses (1,314) (127) (1,957) 17 (100) Noninterest expense 9,990 7,682 5,380 6,898 610 Net income (loss) 5,722 1,873 4,598 2,962 2,119 Return on average allocated capital (1) 30 % 23 % 22 % 16 % n/m Balance Sheet Average Total loans and leases $ 286,304 $ 191,257 $ 327,595 $ 82,649 $ 20,007 Total deposits 951,757 329,948 496,880 54,723 14,212 Allocated capital (1) 38,500 16,500 42,500 38,000 n/m Period end Total loans and leases $ 282,900 $ 198,361 $ 323,256 $ 96,105 $ 18,306 Total deposits 987,655 330,624 520,026 57,297 13,540 (1) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently. n/m = not meaningful

Current-period information is preliminary and based on company data available at the time of the presentation. 18 Bank of America Corporation and Subsidiaries Supplemental Financial Data (Dollars in millions) Six Months Ended June 30 Second Quarter 2022 First Quarter 2022 Second Quarter 2021FTE basis data (1) 2022 2021 Net interest income $ 24,225 $ 20,651 $ 12,547 $ 11,678 $ 10,343 Total revenue, net of interest expense 46,125 44,508 22,791 23,334 21,576 Net interest yield 1.77 % 1.64 % 1.86 % 1.69 % 1.61 % Efficiency ratio 66.32 68.66 67.01 65.65 69.73 Other Data June 30 2022 March 31 2022 June 30 2021 Number of financial centers - U.S. 3,984 4,056 4,296 Number of branded ATMs - U.S. 15,730 15,959 16,795 Headcount 209,824 208,139 211,608 (1) FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with meaningful information on the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax- exempt sources and is consistent with industry practices. Net interest income includes FTE adjustments of $209 million and $221 million for the six months ended June 30, 2022 and 2021, respectively; $103 million and $106 million for the second and first quarters of 2022, respectively, and $110 million for the second quarter of 2021.

Current-period information is preliminary and based on company data available at the time of the presentation. 19 The Corporation evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents shareholders’ equity or common shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities (“adjusted” shareholders’ equity or common shareholders’ equity). Return on average tangible common shareholders’ equity measures the Corporation’s net income applicable to common shareholders as a percentage of adjusted average common shareholders’ equity. The tangible common equity ratio represents adjusted ending common shareholders’ equity divided by total tangible assets (total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities). Return on average tangible shareholders’ equity measures the Corporation’s net income as a percentage of adjusted average total shareholders’ equity. The tangible equity ratio represents adjusted ending shareholders’ equity divided by total tangible assets. Tangible book value per common share represents adjusted ending common shareholders’ equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals. See the tables below for reconciliations of these non-GAAP financial measures to the most closely related financial measures defined by GAAP for the six months ended June 30, 2022 and 2021, and the three months ended June 30, 2022, March 31, 2022 and June 30, 2021. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate supplemental financial data differently. Bank of America Corporation and Subsidiaries Reconciliations to GAAP Financial Measures (Dollars in millions, except per share information) Six Months Ended June 30 Second Quarter 2022 First Quarter 2022 Second Quarter 2021 2022 2021 Reconciliation of income before income taxes to pretax, pre-provision income Income before income taxes $ 14,771 $ 17,208 $ 6,892 $ 7,879 $ 8,042 Provision for credit losses 553 (3,481) 523 30 (1,621) Pretax, pre-provision income $ 15,324 $ 13,727 $ 7,415 $ 7,909 $ 6,421 Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity Shareholders’ equity $ 268,750 $ 274,341 $ 268,197 $ 269,309 $ 274,632 Goodwill (69,022) (68,987) (69,022) (69,022) (69,023) Intangible assets (excluding mortgage servicing rights) (2,136) (2,179) (2,127) (2,146) (2,212) Related deferred tax liabilities 927 917 926 929 915 Tangible shareholders’ equity $ 198,519 $ 204,092 $ 197,974 $ 199,070 $ 204,312 Preferred stock (27,565) (24,039) (28,674) (26,444) (23,684) Tangible common shareholders’ equity $ 170,954 $ 180,053 $ 169,300 $ 172,626 $ 180,628 Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity Shareholders’ equity $ 269,118 $ 277,119 $ 269,118 $ 266,617 $ 277,119 Goodwill (69,022) (69,023) (69,022) (69,022) (69,023) Intangible assets (excluding mortgage servicing rights) (2,114) (2,192) (2,114) (2,133) (2,192) Related deferred tax liabilities 920 915 920 926 915 Tangible shareholders’ equity $ 198,902 $ 206,819 $ 198,902 $ 196,388 $ 206,819 Preferred stock (29,134) (23,441) (29,134) (27,137) (23,441) Tangible common shareholders’ equity $ 169,768 $ 183,378 $ 169,768 $ 169,251 $ 183,378 Reconciliation of period-end assets to period-end tangible assets Assets $ 3,111,606 $ 3,029,894 $ 3,111,606 $ 3,238,223 $ 3,029,894 Goodwill (69,022) (69,023) (69,022) (69,022) (69,023) Intangible assets (excluding mortgage servicing rights) (2,114) (2,192) (2,114) (2,133) (2,192) Related deferred tax liabilities 920 915 920 926 915 Tangible assets $ 3,041,390 $ 2,959,594 $ 3,041,390 $ 3,167,994 $ 2,959,594 Book value per share of common stock Common shareholders’ equity $ 239,984 $ 253,678 $ 239,984 $ 239,480 $ 253,678 Ending common shares issued and outstanding 8,035.2 8,487.2 8,035.2 8,062.1 8,487.2 Book value per share of common stock $ 29.87 $ 29.89 $ 29.87 $ 29.70 $ 29.89 Tangible book value per share of common stock Tangible common shareholders’ equity $ 169,768 $ 183,378 $ 169,768 $ 169,251 $ 183,378 Ending common shares issued and outstanding 8,035.2 8,487.2 8,035.2 8,062.1 8,487.2 Tangible book value per share of common stock $ 21.13 $ 21.61 $ 21.13 $ 20.99 $ 21.61

Bank of America 2Q22 Financial Results July 18, 2022

Note: Amounts may not total due to rounding. N/M stands for not meaningful. 1 For more information on reserve build (release), see note A on slide 33. 2 Represent non-GAAP financial measures. For more information on pretax, pre-provision income and a reconciliation to GAAP, see note B on slide 33. For important presentation information about these measures, see slide 36. Summary Income Statement ($B, except per share data) 2Q22 1Q22 Inc / (Dec) 2Q21 Inc / (Dec) Total Revenue, net of interest expense $22.7 $23.2 ($0.5) (2) % $21.5 $1.2 6 % Provision (benefit) for credit losses 0.5 — 0.5 N/M (1.6) 2.1 N/M Net charge-offs 0.6 0.4 0.2 46 0.6 — (4) Reserve build (release)1 — (0.4) 0.3 N/M (2.2) 2.2 N/M Noninterest expense 15.3 15.3 — — 15.0 0.2 2 Pretax income 6.9 7.9 (1.0) (13) 8.0 (1.2) (14) Pretax, pre-provision income2 7.4 7.9 (0.5) (6) 6.4 1.0 15 Income tax expense 0.6 0.8 (0.2) (21) (1.2) 1.8 N/M Net income $6.2 $7.1 ($0.8) (12) $9.2 ($3.0) (32) Diluted earnings per share $0.73 $0.80 ($0.07) (9) $1.03 ($0.30) (29) Average diluted common shares (in millions) 8,163 8,202 (39) — 8,735 (572) (7) Return Metrics and Efficiency Ratio Return on average assets 0.79 % 0.89 % 1.23 % Return on average common shareholders' equity 9.9 11.0 14.3 Return on average tangible common shareholders' equity2 14.1 15.5 19.9 Efficiency ratio 67 66 70 2Q22 Financial Results 2 2Q21 included a positive income tax adjustment related to the revaluation of U.K. deferred tax assets of $2.0B

2Q22 Highlights (Comparison to 2Q21, unless otherwise noted) • Net income of $6.2B; diluted earnings per share of $0.73; ROE1 9.9%, ROTCE1,2 14.1% • Revenue, net of interest expense, of $22.7B increased $1.2B, or 6% – Net interest income (NII) of $12.4B ($12.5B FTE2) increased $2.2B, or 22%, driven by higher interest rates, lower premium amortization and strong loan growth – Noninterest income of $10.2B decreased $1.0B, or 9%, driven by lower investment banking fees, mark-to-market losses related to leveraged finance positions and lower service charges due to non-sufficient funds and overdraft policy changes, partially offset by higher sales and trading revenues • Provision for credit losses of $0.5B vs. a benefit of $1.6B in 2Q21 – Reserve release of $48MM vs. release of $2.2B in 2Q213 – Net charge-offs (NCOs) of $571MM declined 4%; net charge-off ratio of 23 bps • Noninterest expense of $15.3B increased $0.2B, or 2%, vs. 2Q21, and remained flat QoQ, despite approximately $425MM recognized for certain regulatory matters – Generated operating leverage4 for the fourth consecutive quarter (418 bps in 2Q22) • Balance sheet remained strong – Loans and leases grew $38B from 1Q22 – Deposits decreased $88B from 1Q22 – Common Equity Tier 1 (CET1) ratio of 10.5% improved modestly from 1Q22 – Average Global Liquidity Sources (GLS)5 of $1.0T – Paid $1.7B in common dividends and repurchased $1.0B of common stock, including repurchases to offset shares awarded under equity-based compensation plans 3 Note: FTE stands for fully taxable-equivalent basis. 1 ROE stands for return on average common shareholders’ equity; ROTCE stands for return on average tangible common shareholders’ equity. 2 Represents a non-GAAP financial measure. For important presentation information about this measure, see slide 36. 3 For more information on reserve build (release), see note A on slide 33. 4 Operating leverage is calculated as the year-over-year percentage change in revenue, net of interest expense, less the percentage change in noninterest expense. 5 See note C on slide 33 for definition of Global Liquidity Sources.

22% 51% 27% 36% 32% 41% 42% 13% 4% 12% vs. 2019 YTD vs. 2021 YTD Travel & Entertainment Gas Food Retail Services 0% 25% 50% 75% 9% 11% 30% 10% 19% 5% 17%Credit Debit ACH Wires P2P/P2B Cash Check 2022 YTD YoY Change in Payment Transaction Volume Consumer Spend Remained Strong; 2022 YTD up 13% YoY to $2.1T Note: Amounts may not total due to rounding. 1 Total payments include total credit card, debit card, ACH, wires, billpay, person-to-person (P2P), cash and checks. 2 Includes consumer and small business credit card portfolios in Consumer Banking and Global Wealth & Investment Management (GWIM). 3 Excludes credit and debit Money Transfers, Charitable Donations and miscellaneous categories with immaterial volume. 4 P2B stands for person-to-business. 2022 YTD Credit and Debit Spend2,3 ($ volume) Growth Payment Spend1 ($ volume) and YoY % Growth 4 2022 YTD Payment Spend ($ volume) 9% 6% 14% (5%) Credit/Debit ACH/Wire P2P/P2B Cash/Check $1.5T $1.5T $1.8T $2.1T 5% (2%) 25% 13% 2019 YTD 2020 YTD 2021 YTD 2022 YTD % of 2022 YTD Total 76% 10% 8% 5% $2.1T 79%4 4 % of 2022 YTD Credit / Debit Spend 12% 7% 23% 32% 26%

$675 $448 257 228 154 27 161 84 44 51 57 46 Residential mortgage Home equity Consumer credit card Consumer vehicle lending Securities based lending Other consumer 4Q09 2Q22 $0 $250 $500 $750 Credit Risk Transformation Reflects Responsible Growth (EOP) Note: Amounts may not total due to rounding. 1 4Q09 reflects December 31, 2009 information adjusted to include the January 1, 2010 adoption of FAS 166/167 as reported in our Securities and Exchange Commission (SEC) filings. 2 Nine-quarter loss rate from Comprehensive Capital Analysis and Review (CCAR) severely adverse scenario. Consumer Loan Portfolio ($B)1 Commercial Loan Portfolio ($B)1 Federal Reserve Stress Test Loan Loss Rates (%)2 Loan Mix1 5 $328 $582 207 376 29 128 69 64 22 14 U.S. commercial Non-U.S. commercial Commercial real estate Other 4Q09 2Q22 $0 $200 $400 $600 4Q09 67% 33% 2Q22 44% 56% $1,031B$1,003B 6.9% 5.2% 7.7% 6.0% 9.2% 6.4% 7.1% BAC Peer 1 Peer 2 Peer 3 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (48%) (82%) ~2x >4x Commercial Consumer

Metric 4Q09 4Q19 2Q22 Total loans and leases1 $1,003B $983B $1,031B % consumer 67% 47% 44% Consumer credit card $161B $98B $84B Home equity $154B $41B $27B GWIM loans $100B $177B $222B Commercial real estate of which Construction (%) $69B 39% $63B 12% $64B 13% Nonperforming loans 3.75% 0.36% 0.41% NCOs1 $11B $959MM $571MM Nine-quarter stressed net credit losses2 $104B / 10.0% $44B / 4.4% $53B / 5.2% Tangible common shareholders’ equity1,3 $112B $172B $170B Global Liquidity Sources4 $214B $576B $984B Balance Sheet Transformation Highlights (EOP basis unless noted) 6 Transformation through Responsible Growth • Our loan portfolio is more balanced today and has less inherent risk – Lower concentration in the consumer portfolio – Less exposure to unsecured consumer credit and home equity loans – More than doubled GWIM loans – Commercial Real Estate portfolio more balanced, with less concentration in construction loans – CCAR stress test results indicate significantly lower credit losses expected in a severe downturn • Our capital base and liquidity have also increased significantly – ~$60B higher tangible common equity3 – Global Liquidity Sources4 have increased to approximately five times higher than 4Q09 1 4Q09 reflects December 31, 2009 information adjusted to include the January 1, 2010 adoption of FAS 166/167 as reported in our SEC filings. Amounts include loans accounted for under the fair value option (FVO). 2 Nine-quarter loss rate. 4Q09 based on the 2009 Supervisory Capital Assessment Program; 2Q22 and 4Q19 based on Federal Reserve CCAR stress test results. 3 Represent non-GAAP financial measures. Tangible common shareholders’ equity is calculated as common shareholders’ equity of $240.0B $241.4B and $207.2B for 2Q22, 4Q19 and 4Q09, which has been reduced by goodwill of $69.0B for 2Q22 and 4Q19 and $86.3B for 4Q09 and intangible assets (excluding mortgage servicing rights) of $2.1B, $1.7B and 12.0B for 2Q22, 4Q19 and 4Q09, net of related deferred tax liabilities of $0.9B, $0.7B and $3.5B for 2Q22, 4Q19 and 4Q09. For important presentation information, see slide 36. 4 4Q09 GLS shown on ending basis. Bank of America Corporation (“the Corporation”) adopted the disclosure of average liquidity sources in 2017. See note C on slide 33 for definition of Global Liquidity Sources.

Balance Sheet Metrics 2Q22 1Q22 2Q21 Basel 3 Capital ($B)4 2Q22 1Q22 2Q21 Assets ($B) Common equity tier 1 capital $172 $170 $179 Total assets $3,112 $3,238 $3,030 Standardized approach Total loans and leases 1,031 993 919 Risk-weighted assets (RWA) $1,640 $1,639 $1,552 Total loans and leases in business segments1 1,020 978 901 CET1 ratio 10.5 % 10.4 % 11.5 % Total debt securities 933 970 940 Advanced approaches Risk-weighted assets $1,409 $1,416 $1,380 Funding & Liquidity ($B) CET1 ratio 12.2 % 12.0 % 13.0 % Total deposits $1,984 $2,072 $1,909 Supplementary leverage Long-term debt 276 279 275 Supplementary Leverage Ratio 5.5 % 5.4 % 5.9 % Global Liquidity Sources (average)2 984 1,109 1,063 Equity ($B) Common shareholders' equity $240 $239 $254 Common equity ratio 7.7 % 7.4 % 8.4 % Tangible common shareholders' equity3 $170 $169 $183 Tangible common equity ratio3 5.6 % 5.3 % 6.2 % Per Share Data Book value per common share $29.87 $29.70 $29.89 Tangible book value per common share3 21.13 20.99 21.61 Common shares outstanding (in billions) 8.04 8.06 8.49 1 Excludes loans and leases in All Other. 2 See note C on slide 33 for definition of Global Liquidity Sources. 3 Represent non-GAAP financial measures. For important presentation information, see slide 36. 4 Regulatory capital ratios at June 30, 2022 are preliminary. The Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which for CET1 is the Standardized approach for all reporting periods presented. 5 OCI stands for other comprehensive income; AFS stands for available-for-sale. Balance Sheet, Liquidity and Capital (EOP basis unless noted) 7 • CET1 ratio of 10.5% increased 11 bps vs. 1Q224 – CET1 capital of $172B rose $2B from 1Q22, driven by net income, partially offset by capital distributions to common shareholders and OCI on AFS debt securities5 – Standardized RWA of $1,640B increased $1B from 1Q22 • Book value per share of $29.87 grew modestly from 1Q22 • $1.0T in average Global Liquidity Sources,2 down $125B, or 11%, from 1Q22

10.4% +36 bps +3 bps 10.5% 1Q22 Net income applicable to common shareholders Share repurchases Common dividends OCI on AFS debt securities Risk-weighted assets Other 2Q22 CET1 Ratio1 Drivers Note: Amounts may not total due to rounding. 1 Regulatory capital ratios at June 30, 2022 are preliminary. The Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, which for CET1 is the Standardized approach for all reporting periods presented. 2 Payout ratio is calculated as share repurchases plus common dividends, divided by net income applicable to common shareholders. 3 Gross share repurchases, excluding shares awarded under equity-based compensation plans. 8 3 Total payout ratio:2 45% (6 bps) (10 bps) (11 bps) $5.9B $1.0B $1.7B $1.8B $1.1B (1 bps) $0.5B

$889 $903 $929 $962 $1,000 282 281 282 284 290 194 200 205 211 219 325 325 339 359 377 88 97 103 109 114 Consumer Banking GWIM Global Banking Global Markets 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $250 $500 $750 $1,000 $1,250 $908 $921 $945 $978 $1,015 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $250 $500 $750 $1,000 $1,250 3% +13% +16% +30% Average Loan and Lease Trends1 YoY +12% YoY +13% YoY (25%) Note: Amounts may not total due to rounding. 1 PPP stands for Paycheck Protection Program. Includes balances related to PPP of $2.6B recorded in Consumer $1.6B, GWIM $0.1B and Global Banking $0.9B for 2Q22, balances of $3.8B recorded in Consumer $2.2B, GWIM $0.1B and Global Banking $1.5B for 1Q22, balances of $6.4B recorded in Consumer $3.7B, GWIM $0.2B and Global Banking $2.4B for 4Q21, balances of $12.8B recorded in Consumer $8.1B, GWIM $0.5B and Global Banking $4.1B for 3Q21, and balances of $19.8B recorded in Consumer $11.4B, GWIM $0.7B and Global Banking $7.7B for 2Q21. Total Loans and Leases in All Other ($B) Loans and Leases in Business Segments ($B) Total Loans and Leases by Portfolio ($B) Total Loans and Leases ($B) $413 $419 $428 $435 $446 $494 $501 $517 $543 $569 Consumer loans Commercial loans 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $250 $500 $750 9 Ex. PPP $888 $908 $939 $974 $1,012 15 14 13 12 12 4 4 3 3 3 $19 $18 $16 $15 $14 Residential mortgage Home equity 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $5 $10 $15 $20 $25 YoY +14%

Consumer Banking ($B) GWIM ($B) Global Banking ($B) Total Corporation ($B) Average Deposit Trends Bank of America Ranked #1 in U.S. Retail Deposit Market Share1 Note: Amounts may not total due to rounding. Total Corporation also includes Global Markets and All Other. 1 Estimated U.S. retail deposits based on June 30, 2021 FDIC deposit data. $333 $339 $361 $385 $364 309 314 332 353 333 24 26 29 32 31 Interest-bearing Noninterest-bearing 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $100 $200 $300 $400 $500 $1,889 $1,943 $2,017 $2,046 $2,012 1,160 1,178 1,211 1,247 1,222 729 764 806 799 790 Interest-bearing Noninterest-bearing 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $500 $1,000 $1,500 $2,000 $2,500 $507 $534 $562 $540 $509 163 166 165 157 142 344 368 398 383 367 Interest-bearing Noninterest-bearing 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $200 $400 $600 +8% +28% +5% +8% YoY +7% YoY +9% YoY +10% (13%) +7% +10% YoY +1% 10 +11% $979 $1,001 $1,027 $1,056 $1,078 425 435 445 458 466 231 232 238 247 249 323 333 344 352 363 Money market, Savings, CD/IRA Interest checking Noninterest-bearing 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $250 $500 $750 $1,000 $1,250

Net Interest Income (FTE, $B)1 • Net interest income of $12.4B ($12.5B FTE1) – Increased $872MM from 1Q22, driven by lower premium amortization expense, higher interest rates and higher loan balances ▪ Premium amortization expense of $0.6B vs. $0.9B in 1Q22 • Net interest yield of 1.86% increased 17 bps from 1Q22 – Excluding Global Markets, net interest yield of 2.20%1 • Interest rate sensitivity as of June 30, 20222 – +100 bps parallel shift in the interest rate yield curve is estimated to benefit net interest income by $5.0B over the next 12 months Net Interest Income Increased $2.2B, or 22% YoY Net Interest Yield (FTE)1 Note: FTE stands for fully taxable-equivalent basis. GM stands for Global Markets. 1 Represent non-GAAP financial measures. Net interest yield adjusted to exclude Global Markets NII of $1.0B, $1.0B, $1.0B, $1.0B and $1.0B and average earning assets of $598.8B, $610.9B, $580.8B, $557.3B and $531.0B for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively. The Corporation believes the presentation of net interest yield excluding Global Markets provides investors with transparency of NII and net interest yield in core banking activities. For important presentation information, see slide 36. 2 NII asset sensitivity represents banking book positions. See note D on slide 33 for information on asset sensitivity assumptions. 1.61% 1.68% 1.67% 1.69% 1.86% 1.83% 1.93% 1.92% 1.99% 2.20% Reported net interest yield Net interest yield excl. GM 2Q21 3Q21 4Q21 1Q22 2Q22 1.00% 1.50% 2.00% 2.50% $10.3 $11.2 $11.5 $11.7 $12.5 $10.2 $11.1 $11.4 $11.6 $12.4 Net interest income (GAAP) FTE Adjustment 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $5.0 $10.0 $15.0 11

$15.0 $14.4 $14.7 $15.3 $15.3 8.7 8.7 9.0 9.5 8.9 6.4 5.7 5.7 5.8 6.4 Compensation and benefits Other 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $5.0 $10.0 $15.0 $20.0 70% 63% 67% 66% 67% 2Q21 3Q21 4Q21 1Q22 2Q22 50% 60% 70% 80% • Noninterest expense of $15.3B included approximately $425MM recognized for certain regulatory matters and increased $0.2B, or 2%, vs. 2Q21 • 2Q22 expenses were relatively flat vs. 1Q22, as the absence of seasonally elevated payroll taxes and lower incentive compensation was largely offset by expenses recognized for certain regulatory matters and marketing spend Total Noninterest Expense ($B) Efficiency Ratio Expense and Efficiency Note: Amounts may not total due to rounding. 12

• Total net charge-offs of $571MM1 increased $179MM from 1Q22 – Consumer net charge-offs of $525MM increased $185MM and included $85MM for non-core mortgage sales – Commercial net charge-offs of $46MM remained low • Net charge-off ratio of 0.23% increased 7 bps from 1Q22; excluding the non-core mortgage sales, net charge-off ratio remained near historical lows • Provision for credit losses of $523MM – Reserves remained relatively flat to prior quarter as builds for loan growth and the impact of a dampening macroeconomic outlook were offset by asset quality improvement and reduced pandemic uncertainty • Allowance for loan and lease losses of $12.0B represented 1.17% of total loans and leases1 – Total allowance of $13.4B included $1.5B for unfunded commitments • Nonperforming loans (NPLs) decreased $0.5B from 1Q22 to $4.2B – 60% of Consumer NPLs are contractually current • Commercial reservable criticized utilized exposure of $18.1B decreased $2.6B from 1Q22, driven by declines across a broad range of industries Asset Quality 1 Excludes loans measured at fair value. Allowance for loan and lease losses ratio is calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period. Provision (Benefit) for Credit Losses ($MM) Net Charge-offs ($MM)1 ($1,621) ($624) ($489) $30 $523 2Q21 3Q21 4Q21 1Q22 2Q22 ($2,000) ($1,500) ($1,000) ($500) $0 $500 $1,000 $595 $463 $362 $392 $571 0.27% 0.20% 0.15% 0.16% 0.23% Net charge-offs Net charge-off ratio 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $200 $400 $600 $800 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 13

Commercial Net Charge-offs ($MM) Consumer Net Charge-offs ($MM) Asset Quality – Consumer and Commercial Portfolios 1 Excludes loans measured at fair value. 2 Fully-insured loans are FHA-insured loans and other loans individually insured under long-term standby agreements. 3 C&I includes commercial and industrial, commercial real estate and commercial lease financing. $82 $134 $50 $52 $46 0.07% 0.11% 0.04% 0.04% 0.03% C&I Small business Commercial NCO ratio 2Q21 3Q21 4Q21 1Q22 2Q22 ($50) $0 $50 $100 $150 $200 (0.05)% 0.00% 0.05% 0.10% 0.15% 0.20% $513 $329 $312 $340 $525 0.50% 0.31% 0.29% 0.32% 0.47% Credit card Other Consumer NCO ratio 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $150 $300 $450 $600 0.00% 0.25% 0.50% 0.75% 1.00% Commercial Metrics ($MM) 2Q22 1Q22 2Q21 Provision $113 $16 ($914) Reservable criticized utilized exposure 18,114 20,682 28,878 Nonperforming loans and leases 1,298 1,521 1,863 % of loans and leases1 0.22 % 0.28 % 0.38 % Allowance for loans and leases $5,361 $5,389 $6,663 % of loans and leases1 0.93 % 0.98 % 1.35 % Consumer Metrics ($MM) 2Q22 1Q22 2Q21 Provision $410 $14 ($707) Nonperforming loans and leases 2,866 3,104 3,044 % of loans and leases1 0.64 % 0.71 % 0.73 % Consumer 30+ days performing past due $2,806 $2,844 $3,233 Fully-insured2 734 817 997 Non fully-insured 2,072 2,027 2,236 Consumer 90+ days performing past due 1,000 1,077 1,235 Allowance for loans and leases 6,612 6,715 7,432 % of loans and leases1 1.48 % 1.53 % 1.78 % # times annualized NCOs 3.14 x 4.88 x 3.61 x 14 3

• Net income of $2.9B decreased 5% from 2Q21 as NII improvement was more than offset by increased provision expense due to a reserve release that benefited 2Q21 – Pretax, pre-provision income1 of $4.2B increased 26% from 2Q21 • Revenue of $9.1B increased 12% from 2Q21 due to increased NII driven by higher balances and higher interest rates, partially offset by the impact of non-sufficient funds and overdraft policy changes • Provision for credit losses of $350MM primarily driven by loan growth and a dampening macroeconomic outlook, and increased $1.0B from 2Q21, which benefited from a reserve release • Noninterest expense of $5.0B increased 2% from 2Q21, primarily driven by investments in the business • Average deposits of more than $1T were $99B, or 10%, higher than 2Q21 – 56% of deposits in checking accounts; 92% primary accounts5 • Average loans and leases of $290B increased $8B, or 3%, from 2Q21; excluding PPP up $18B, or 7%, vs. 2Q216 • Combined credit / debit card spend4 of $221B increased 10% from 2Q21 – Credit up 17%; debit up 6%, reflecting record debit card spend • Consumer investment assets3 of $315B declined $31B, or 9%, from 2Q21, driven by lower market valuations, partially offset by $21B of client flows from new and existing clients – Record 3.4MM consumer investment accounts, up 6% YoY • 9.8MM Total clients7 enrolled in Preferred Rewards, up 10% from 2Q21 – 99% annualized retention rate Consumer Banking 1 Represents a non-GAAP financial measure. For more information and a reconciliation to GAAP, see note B on slide 33. For important presentation information, see slide 36. 2 Cost of deposits calculated as annualized noninterest expense as a percentage of total average deposits within the Deposits sub-segment. 3 Consumer investment assets includes client brokerage assets, deposit sweep balances and assets under management (AUM) in Consumer Banking. 4 Includes consumer credit card portfolios in Consumer Banking and GWIM. 5 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 6 Average loans and leases was $290B and $282B for 2Q22 and 2Q21. Excluding average PPP loan balances of $2B and $11B, average loan balances were $288B and $270B for the same periods. For important presentation information, see slide 36. 7 As of May, 2022. Includes clients in Consumer, Small Business and GWIM. Inc / (Dec) Summary Income Statement ($MM) 2Q22 1Q22 2Q21 Total revenue, net of interest expense $9,136 $323 $950 Provision (benefit) for credit losses 350 402 1,047 Noninterest expense 4,959 38 100 Pretax income 3,827 (117) (197) Pretax, pre-provision income1 4,177 285 850 Income tax expense 938 (28) (48) Net income $2,889 ($89) ($149) Key Indicators ($B) 2Q22 1Q22 2Q21 Average deposits $1,078.0 $1,056.1 $979.1 Rate paid on deposits 0.02 % 0.02 % 0.02 % Cost of deposits2 1.14 1.16 1.18 Average loans and leases $289.6 $284.1 $281.8 Net charge-off ratio 0.70 % 0.59 % 0.89 % Net charge-offs ($MM) $502 $416 $625 Reserve build (release) ($MM) (152) (468) (1,322) Consumer investment assets3 $315.2 $357.6 $345.8 Active mobile banking users (MM) 34.2 33.6 31.8 % Consumer sales through digital channels 48 % 53 % 44 % Number of financial centers 3,984 4,056 4,296 Combined credit /debit purchase volumes4 $220.5 $198.5 $200.3 Total consumer credit card risk-adjusted margin4 9.95 % 10.40 % 9.76 % Return on average allocated capital 29 30 32 Allocated capital $40.0 $40.0 $38.5 Efficiency ratio 54 % 56 % 59 % 15

• Net income of $1.2B increased 16% from 2Q21 – Pretax, pre-provision income1 of $1.6B increased 24% from 2Q21 • Revenue of $5.4B increased 7% compared to 2Q21, driven by the NII benefit from higher balances and higher interest rates • Noninterest expense of $3.9B increased 2% vs. 2Q21, driven by higher employee-related expenses • Client balances of $3.4T decreased 8% from 2Q21, driven by lower market valuations, partially offset by net client flows – AUM flows of $53B since 2Q21 • Average deposits of $364B increased $30B, or 9%, from 2Q21 • Average loans and leases of $219B increased $25B, or 13%, from 2Q21, driven by residential mortgage lending, securities-based lending and custom lending – 49th consecutive quarter of average loan and lease balance growth • Added more than 5,100 net new relationships across Merrill and Private Bank in 2Q22 • 82% of GWIM households / relationships are digitally active across the enterprise, up from 80% in 2Q21 Global Wealth & Investment Management 1 Represents a non-GAAP financial measure. For more information and a reconciliation to GAAP, see note B on slide 33. For important presentation information, see slide 36. Inc / (Dec) Summary Income Statement ($MM) 2Q22 1Q22 2Q21 Total revenue, net of interest expense $5,433 ($43) $368 Provision (benefit) for credit losses 33 74 95 Noninterest expense 3,875 (140) 62 Pretax income 1,525 23 211 Pretax, pre-provision income1 1,558 97 306 Income tax expense 374 6 52 Net income $1,151 $17 $159 Key Indicators ($B) 2Q22 1Q22 2Q21 Average deposits $363.9 $384.9 $333.5 Rate paid on deposits 0.11 % 0.03 % 0.03 % Average loans and leases $219.3 $210.9 $194.0 Net charge-off ratio 0.02 % 0.00 % 0.00 % Net charge-offs ($MM) $9 $1 $— Reserve build (release) ($MM) 24 (42) (62) AUM flows $1.0 $15.5 $11.7 Pretax margin 28 % 27 % 26 % Return on average allocated capital 26 26 24 Allocated capital $17.5 $17.5 $16.5 16

• Net income of $1.5B decreased 38% from 2Q21, primarily driven by provision expense of $157MM versus a reserve release that benefited 2Q21 • Revenue of $5.0B decreased $0.1B vs. 2Q21, primarily driven by lower investment banking fees, mark-to- market losses related to leveraged finance positions, and lower leasing-related revenue, partially offset by higher NII from the benefit of higher interest rates and strong loan growth • Total Corporation investment banking fees of $1.1B (excl. self-led) decreased $1.0B, or 47%, from 2Q21 • Provision for credit losses of $157MM, primarily driven by a dampening macroeconomic outlook as well as loan growth, and increased $988MM from 2Q21, which benefited from a reserve release • Noninterest expense of $2.8B increased 8% from 2Q21, primarily reflecting continued investments in the business, including strategic hiring, and higher expenses recognized for certain regulatory matters • Average deposits of $509B increased $3B, or 1%, from 2Q21 • Average loans and leases of $377B increased 16% from 2Q21, reflecting strong client demand Global Banking 1 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities and sales and trading activities. 2 Represents a non-GAAP financial measure. For more information and a reconciliation to GAAP, see note B on slide 33. For important presentation information, see slide 36. 3 Prior periods have been revised to conform to current-period presentation. Inc / (Dec) Summary Income Statement ($MM) 2Q22 1Q22 2Q21 Total revenue, net of interest expense1 $5,006 ($188) ($84) Provision (benefit) for credit losses 157 (8) 988 Noninterest expense 2,799 116 200 Pretax income 2,050 (296) (1,272) Pretax, pre-provision income2 2,207 (304) (284) Income tax expense 543 (79) (354) Net income $1,507 ($217) ($918) Selected Revenue Items ($MM) 2Q22 1Q22 2Q21 Total Corporation IB fees (excl. self-led)1 $1,128 $1,457 $2,122 Global Banking IB fees1 692 880 1,173 Business Lending revenue 2,032 2,111 1,912 Global Transaction Services revenue3 2,381 2,088 1,798 Key Indicators ($B) 2Q22 1Q22 2Q21 Average deposits $509.3 $539.9 $506.6 Average loans and leases 377.2 358.8 325.1 Net charge-off ratio 0.01 % (0.01) % 0.00 % Net charge-offs ($MM) $14 ($12) $3 Reserve build (release) ($MM) 143 177 (834) Return on average allocated capital 14 % 16 % 23 % Allocated capital $44.5 $44.5 $42.5 Efficiency ratio 56 % 52 % 51 % 17

Global Markets1 • Net income of $1.0B increased 12% from 2Q21 – Excluding net DVA, net income of $0.9B decreased 4%3 • Revenue of $4.5B decreased 5% from 2Q21; excluding net DVA, revenue decreased 9%,3 primarily driven by lower investment banking fees and mark-to-market losses related to leveraged finance positions, partially offset by higher sales and trading revenue • Reported sales and trading revenue of $4.2B increased 17% from 2Q21 – FICC revenue increased to $2.5B, driven by improved performance across all macro products, partially offset by a weaker trading performance in credit products – Equities revenue increased to $1.7B, driven by a strong trading performance in derivatives offset by a weaker trading performance in cash • Excluding net DVA, sales and trading revenue of $4.0B increased 11% from 2Q213 – FICC revenue of $2.3B increased 19%3 – Equities revenue of $1.7B increased 2%3 • Noninterest expense of $3.1B decreased 10% vs. 2Q21, primarily driven by the absence of expenses related to a liquidating business activity, which was realigned from Global Markets to All Other in 4Q21,5 partially offset by higher expenses recognized for certain regulatory matters • Average VaR of $118MM in 2Q226 1 The explanations for current period-over-period changes for Global Markets are the same for amounts including and excluding net DVA. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Represents a non-GAAP financial measure. Reported FICC sales and trading revenue was $2.5B, $2.7B and $1.9B for 2Q22, 1Q22 and 2Q21, respectively. Reported Equities sales and trading revenue was $1.7B, $2.0B and $1.6B for 2Q22, 1Q22 and 2Q21, respectively. See note E on slide 33 and slide 36 for important presentation information. 4 Represents a non-GAAP financial measure. For more information and a reconciliation to GAAP, see note B on slide 33. For important presentation information, see slide 36. 5 For more information on the liquidating business realignment, see note F on slide 33. 6 See note G on slide 33 for the definition of VaR. Inc / (Dec) Summary Income Statement ($MM) 2Q22 1Q22 2Q21 Total revenue, net of interest expense2 $4,502 ($790) ($218) Net DVA 158 89 192 Total revenue (excl. net DVA)2,3 4,344 (879) (410) Provision (benefit) for credit losses 8 3 (14) Noninterest expense 3,109 (8) (362) Pretax income 1,385 (785) 158 Pretax, pre-provision income4 1,393 (782) 144 Income tax expense 367 (208) 48 Net income $1,018 ($577) $110 Net income (excl. net DVA)3 $898 ($645) ($36) Selected Revenue Items ($MM)2 2Q22 1Q22 2Q21 Sales and trading revenue $4,153 $4,719 $3,561 Sales and trading revenue (excl. net DVA)3 3,995 4,650 3,595 FICC (excl. net DVA)3 2,340 2,648 1,965 Equities (excl. net DVA)3 1,655 2,002 1,630 Global Markets IB fees 461 582 959 Key Indicators ($B) 2Q22 1Q22 2Q21 Average total assets $866.7 $858.7 $797.6 Average trading-related assets 606.1 596.2 566.8 Average 99% VaR ($MM)6 118 79 77 Average loans and leases 114.4 108.6 87.8 Net charge-offs ($MM) (4) 21 — Reserve build (release) ($MM) 12 (16) 22 Return on average allocated capital 10 % 15 % 10 % Allocated capital $42.5 $42.5 $38.0 Efficiency ratio 69 % 59 % 74 % 18

All Other1 • Net loss of $318MM, compared to net income of $1.9B in 2Q21, driven by the absence of a $2.0B positive income tax adjustment related to the revaluation of U.K. deferred tax assets in 2Q21 • Revenue increased $199MM from 2Q21, reflecting the absence of approximately $150MM of structured notes losses which impacted the prior year • Noninterest expense increased $228MM vs. 2Q21, driven primarily by expenses recognized for certain regulatory matters and the realignment of a liquidating business activity from Global Markets to All Other in 4Q21,3 partially offset by decreases in other expenses • Total corporate effective tax rate (ETR) for the quarter was 9.4% driven by recurring ESG tax credit benefits and approximately $300MM in discrete tax benefits related to the resolution of certain tax matters. Excluding ESG tax credits and these discrete tax benefits, the ETR would have been approximately 26% 1 All Other primarily consists of asset and liability management (ALM) activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass interest rate and foreign currency risk management activities for which substantially all of the results are allocated to our business segments. 2 Represents a non-GAAP financial measure. For more information and a reconciliation to GAAP, see note B on slide 33. For important presentation information, see slide 36. 3 For more information on the liquidating business realignment, see note F on slide 33. Inc/(Dec) Summary Income Statement ($MM) 2Q22 1Q22 2Q21 Total revenue, net of interest expense ($1,286) $155 $199 Provision (benefit) for credit losses (25) 22 28 Noninterest expense 531 (52) 228 Pretax income (1,792) 185 (57) Pretax, pre-provision income2 (1,817) 207 (29) Income tax (benefit) (1,474) 139 2,122 Net income (loss) ($318) $46 ($2,179) 19

Supplemental Business Segment Trends

Total Expense ($B) and Efficiency Business Leadership1 • No. 1 in estimated U.S. Retail Deposits(A) • No. 1 Online Banking and Mobile Banking Functionality(B) • No. 1 in customer satisfaction with Merchant Services by J.D. Power(C) • No. 1 Small Business Lender(D) • Best Bank in the U.S.(E) • Best Consumer Digital Bank in the U.S.(F) • Certified by J.D. Power for providing outstanding client satisfaction for financial wellness support(G) Total Revenue ($B) Average Deposits ($B) Consumer Investment Assets ($B)3 and Accounts (MM) Average Loans and Leases ($B)2 Consumer Banking Trends Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 Average loans and leases includes PPP balances of $2B in 2Q22, $2B in 1Q22, $4B in 4Q21, $8B in 3Q21, and $11B in 2Q21. 3 End of period. Consumer investment assets includes client brokerage assets, deposit sweep balances and AUM in Consumer Banking. $8.2 $8.8 $8.9 $8.8 $9.1 6.0 6.5 6.5 6.7 7.1 2.2 2.3 2.4 2.1 2.0 Net interest income Noninterest income 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $2.5 $5.0 $7.5 $10.0 $4.9 $4.6 $4.7 $4.9 $5.0 59% 52% 53% 56% 54% Noninterest expense Efficiency ratio 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $2.0 $4.0 $6.0 40% 50% 60% 70% 80% $979 $1,001$1,027$1,056$1,078 550 562 578 593 606 429 439 449 463 472 Checking Other 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $200 $400 $600 $800 $1,000 $1,200 $282 $281 $282 $284 $290 110 111 113 115 117 71 73 76 76 78 47 48 49 50 51 25 24 23 22 2230 27 22 21 21 Residential mortgage Consumer credit card Vehicle lending Home equity Small business / other 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $100 $200 $300 $400 21 $346 $353 $369 $358 $315 3.2 3.2 3.3 3.3 3.4 Assets Accounts 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $100 $200 $300 $400 2.0 2.5 3.0 3.5 4.0

Checks vs. Zelle Sent Transactions (MM) 180 130 133 123 48 79 125 156 Checks written Zelle sent transactions 2Q19 2Q20 2Q21 2Q22 0 50 100 150 200 Digital SalesDigital Users1 and Households2 Digital Channel Usage3,4 912 1,089 1,368 1,640 29% 47% 44% 48% Digital unit sales (K) Digital as a % of total sales 2Q19 2Q20 2Q21 2Q22 0 250 500 750 1,000 1,250 1,500 1,750 10% 20% 30% 40% 50% 60% 70% 80% 1,961 2,346 2,567 2,845 583 665 871 911 Digital channel usage (MM) Digital appointments (K) 2Q19 2Q20 2Q21 2Q22 1,000 1,500 2,000 2,500 3,000 250 500 750 1,000 1,250 37 39 41 43 48 52 53 55 65% 68% 70% 72% Active users (MM) Verified users (MM) Household adoption % 2Q19 2Q20 2Q21 2Q22 20 30 40 50 60 50% 60% 70% 80% 90% 100% Client Engagement Person-to-Person Payments (Zelle)5 Digital Volumes 69 117 189 239 $18 $32 $57 $73 Transactions (MM) Volume ($B) 2Q19 2Q20 2Q21 2Q22 0 50 100 150 200 250 $0 $20 $40 $60 $80 $100 Record 55MM Verified and 43MM Active Digital Users1 in 2Q22 Note: Amounts may not total due to rounding. 1 Digital active users represents mobile and/or online 90-day active users; verified users represent those with a digital identification and password. 2 Household adoption represents households with consumer bank login activities in a 90-day period, as of May, 2022. 3 Digital channel usage represents the total number of desktop and mobile banking sessions. 4 Digital appointments represent the number of client-scheduled appointments made via online, smartphone or tablet. 5 Includes Bank of America person-to-person payments sent and received through e-mail or mobile identification. Zelle users represent 90-day active users. Total Erica Users and Interactions (MM) 7.6 14.4 21.2 27.6 16.4 37.2 94.2 123.1 Erica users Erica interactions 2Q19 2Q20 2Q21 2Q22 0.0 5.0 10.0 15.0 20.0 25.0 30.0 0.0 50.0 100.0 150.0 200.0 8.0 11.3 14.3 17.0 users (MM) 22 Digital Adoption

931 1,049 940 977 1,068 2Q21 3Q21 4Q21 1Q22 2Q22 0 500 1,000 1,500 Home Equity New Originations ($B)1,3 Consumer Creditworthiness Remains Strong 1 Includes loan production within Consumer Banking and GWIM. For consumer credit card balances, includes average balances of $3B, $3B, and $2B in 2Q22, 1Q22 and 2Q21, respectively, within GWIM. 2 Calculated as the difference between total revenue, net of interest expense, and net credit losses divided by average loans. 3 Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. 4 Represents Consumer Banking only. Consumer Vehicle Lending New Originations ($B) Consumer Credit Card New Accounts (000s)1 23 Residential Mortgage New Originations ($B)1,3 Key Stats 2Q21 1Q22 2Q22 Average outstandings ($B) 73.4 78.4 81.0 NCO ratio 2.67% 1.53% 1.60% Risk-adjusted margin2 9.76% 10.40% 9.95% Average line FICO 767 770 771 $7.1 $6.8 $6.8 $7.1 $7.1 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $2.5 $5.0 $7.5 $10.0 Key Stats 2Q21 1Q22 2Q22 Average outstandings ($B) 46.6 49.9 51.2 NCO ratio (0.07%) 0.03% 0.02% Average booked FICO 786 790 791 $20.3 $21.2 $23.0 $16.4 $14.5 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $10.0 $20.0 $30.0 Key Stats 2Q21 1Q22 2Q22 Average outstandings ($B)4 109.7 115.4 117.4 NCO ratio4 0.01% 0.01% 0.03% Average FICO 776 771 771 Average booked loan-to-value (LTV) 65% 64% 70% $1.2 $1.5 $1.7 $2.0 $2.5 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $1.0 $2.0 $3.0 $4.0 Key Stats 2Q21 1Q22 2Q22 Average outstandings ($B)4 24.8 22.0 21.8 NCO ratio4 0.03% (0.10%) (0.00%) Average FICO 801 800 797 Average booked combined LTV 59% 59% 58%

Ju n- 19 Se p- 19 D ec -1 9 M ar -2 0 Ju n- 20 Se p- 20 D ec -2 0 M ar -2 1 Ju n- 21 Se p- 21 D ec -2 1 M ar -2 2 Ju n- 22 $0 $500 $1,000 $1,500 $2,000 $2,500 • Beginning in 4Q20, we saw early stage delinquencies recede below pre-pandemic levels as expired deferrals worked through the delinquency periods and payment rates increased, fueled by stimulus payments • Late stage credit card delinquencies remain near multi-year lows, resulting in low card net charge- offs in 2Q22 • 5-29 days and 30 days+ past due delinquency rates are 49 bps and 76 bps lower than they were in 2Q19, respectively Credit Card Days Past Due Trend Credit Card 30+ Days Past Due ($MM) 5-29 Days ($MM) Ju n- 19 Se p- 19 D ec -1 9 M ar -2 0 Ju n- 20 Se p- 20 D ec -2 0 M ar -2 1 Ju n- 21 Se p- 21 D ec -2 1 M ar -2 2 Ju n- 22 $0 $500 $1,000 $1,500 $2,000 $2,500 30-59 Days ($MM) 60-89 Days ($MM) Ju n- 19 Se p- 19 D ec -1 9 M ar -2 0 Ju n- 20 Se p- 20 D ec -2 0 M ar -2 1 Ju n- 21 Se p- 21 D ec -2 1 M ar -2 2 Ju n- 22 $0 $100 $200 $300 $400 $500 $600 $700 Ju n- 19 Se p- 19 D ec -1 9 M ar -2 0 Ju n- 20 Se p- 20 D ec -2 0 M ar -2 1 Ju n- 21 Se p- 21 D ec -2 1 M ar -2 2 Ju n- 22 $0 $100 $200 $300 $400 $500 Ju n- 19 Se p- 19 D ec -1 9 M ar -2 0 Ju n- 20 Se p- 20 D ec -2 0 M ar -2 1 Ju n- 21 Se p- 21 D ec -2 1 M ar -2 2 Ju n- 22 $0 $200 $400 $600 $800 $1,000 $1,200 90+ Days ($MM) 24 1.58% 2.07% 1.96% 1.20% Delinquency Rate

Credit Card Dynamics Remain Healthy 1 Credit card utilization is calculated as ending loan balances divided by open credit line commitments, including inactive lines. 2 Payment rates indexed to 1 at December 2019. Payment rate is calculated as in-month payment volume divided by previous month ending loan balances. Credit Card Utilization1 Relative change in payment rates during the pandemic2 30+ Days Past Due Rate FICO <660 as a % of Total Balances 25 12% 9% Dec- 19 Mar- 20 Jun- 20 Sep- 20 Dec- 20 Mar- 21 Jun- 21 Sep- 21 Dec- 21 Mar- 22 Jun- 22 6% 8% 10% 12% 14% 68% 58% 22% 18% FICO <660 (LHS) Total portfolio (RHS) Dec- 19 Mar- 20 Jun- 20 Sep- 20 Dec- 20 Mar- 21 Jun- 21 Sep- 21 Dec- 21 Mar- 22 Jun- 22 50% 55% 60% 65% 70% 75% 15% 18% 20% 23% 25% 1.0x 1.4x 1.3x FICO <660 Total portfolio Dec- 19 Mar- 20 Jun- 20 Sep- 20 Dec- 20 Mar- 21 Jun- 21 Sep- 21 Dec- 21 Mar- 22 Jun- 22 0.5x 1.0x 1.5x 2.0x FICO <660 (LHS) Total portfolio (RHS) Dec- 19 Mar- 20 Jun- 20 Sep- 20 Dec- 20 Mar- 21 Jun- 21 Sep- 21 Dec- 21 Mar- 22 Jun- 22 10.0% 12.5% 15.0% 17.5% 20.0% 1.0% 1.5% 2.0% 2.5% 17.2% 12.2% 2.1% 1.2%

Average Deposits ($B) Global Wealth & Investment Management Trends Business Leadership1 • No. 1 on Forbes’ Best-in-State Wealth Advisors (2022), Top Women Wealth Advisors (2022), Top Women Wealth Advisors Best-in State (2022), and Top Next Generation Advisors (2021) • No. 1 on Barron’s Top 100 Women Financial Advisors List (2022) • No. 1 on Financial Planning's 'Top 40 Advisors Under 40' List (2022) • Celent Model Wealth Manager award for Client Experience (2022) • No. 1 in personal trust AUM(H) • Best Private Bank in the U.S. by Family Wealth Report(I) and Global Private Banker(J) • Best Philanthropy Offering in the U.S. by WealthBriefing(K) Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 Average loans and leases includes PPP balances of $0.1B in 2Q22, $0.1B in 1Q22, $0.2B in 4Q21, $0.5B in 3Q21, and $0.7B in 2Q21. 3 End of period. Loans and leases includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet. 4 Managed deposits in investment accounts of $55B, $53B, $56B, $49B and $47B for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively, are included in both AUM and Deposits. Total client balances only include these balances once. Average Loans and Leases ($B)2 Total Revenue ($B) Client Balances ($B)3,4 $5.1 $5.3 $5.4 $5.5 $5.4 1.4 1.5 1.5 1.7 1.8 3.1 3.2 3.2 3.2 3.1 0.6 0.6 0.6 0.6 0.6 Net interest income Asset management fees Brokerage / Other 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $2.0 $4.0 $6.0 1,549 1,579 1,639 1,572 1,411 1,619 1,612 1,655 1,593 1,438 331 346 390 385 348 201 205 212 217 225 $3,653 $3,693 $3,840 $3,714 $3,367 AUM Brokerage / Other Deposits Loans and leases 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $1,000 $2,000 $3,000 $4,000 $194 $200 $205 $211 $219 92 94 96 99 102 47 50 53 55 57 52 53 54 55 57 Consumer real estate Securities-based lending Custom lending Credit card 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $50 $100 $150 $200 $250 $333 $339 $361 $385 $364 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $100 $200 $300 $400 26

Global Wealth & Investment Management Digital Update1 GWIM2 82%, up from 80% 81% of Merrill households3 digitally active across the enterprise, up from 79% in 2Q21 86% of Private Bank4 relationships digitally active across the enterprise, up from 83% in 2Q21 Digital Adoption 56% 2Q GWIM Mobile Engagement5 up 285bps YoY Merrill 56%, up 281 bps YoY Private Bank 70%, up 421 bps YoY +33% 2Q GWIM Erica interactions YoY growth Merrill advisors received 800K client insights Merrill 1.7MM, up 33% YoY Private Bank 118K, up 40% YoY 77% Merrill households enrolled in eDelivery 25K+ of eligible brokerage/bank accounts opened digitally through our Client Onboarding Experience (COBE) Up from 73% last year 75% Private Bank Check Deposit Transactions 160K+ Mobile Check Deposits, up 2% YoY Up from 73% last year Client Engagement Online Mobile Digital Volume 1 Except where otherwise noted, reflects figures for 2Q22. 2 GWIM digital adoption is Merrill digital households, plus digital Private Bank relationships out of total Merrill primary households, plus Private Bank core relationships as of May, 2022 vs. May, 2021. 3 Merrill households represent those households $250K+ as of June, 2022. 4 Private Banking core relationships reflect relationships $3MM+ and excludes: irrevocable trust-only relationships; institutional philanthropic relationships; existing relationships as of May, 2022. 5 GWIM mobile engagement is Merrill mobile households, plus mobile Private Bank relationships out of total Merrill primary households, plus Private Bank core relationships as of May, 2022 vs. May, 2021. Advisor-led Client Interactions, Powered by Digital 27

Global Banking Trends Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 Average loans and leases includes PPP balances of $1B in 2Q22, $1B in 1Q22, $2B in 4Q21, $4B in 3Q21 and $8B in 2Q21. 3 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 4 Self-led deals of $65MM, $72MM, $28MM, $56MM and $97MM for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively are embedded within Debt, Equity, and Advisory. Total Corporation IB fees excludes self-led deals. 5 Advisory includes fees on debt and equity advisory and mergers and acquisitions. Average Deposits ($B)Business Leadership1 • Global Most Innovative Financial Institution – 2022(L) • World's Best Bank, North America’s Best Bank for Small to Medium-sized Enterprises, and Best Bank in the US(M) • Best Global Bank for Payments & Collections(N) • Model Bank for Corporate Digital Banking – For CashPro App(O) • Best Bank for Cash Management in North America(N) • World’s Best Bank for Payments and Treasury and North America’s Best Bank for Transaction Services(M) • Best Transaction Bank in North America, Best Supply Chain Finance Bank(P) • 2021 Quality, Share and Excellence Awards for U.S. Large Corporate Banking and Cash Management(Q) • Outstanding Global Leader in Social Bonds, Outstanding Leader in Social Bonds and Sustainable Loans for North America(R) • Relationships with 74% of the Global Fortune 500; 95% of the U.S. Fortune 1,000 (2021) Average Loans and Leases ($B)2 Total Revenue ($B)3 Total Corporation IB Fees ($MM)4 $5.1 $5.2 $5.9 $5.2 $5.0 2.0 2.2 2.4 2.3 2.6 1.2 1.3 1.5 0.9 0.7 0.9 0.9 0.9 0.9 0.9 1.0 0.9 1.2 1.1 0.7 Net interest income IB fees Service charges All other income 2Q21 3Q21 4Q21 1Q22 2Q22 $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 1,110 933 984 831 662 702 637 545 225 139 407 654 850 473 392 $2,122 $2,168 $2,351 $1,457 $1,128 Debt Equity Advisory 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $500 $1,000 $1,500 $2,000 $2,500 157 160 167 177 186 148 148 156 167 177 13 13 13 13 13 $325 $325 $339 $359 $377 Commercial Corporate Business Banking 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $100 $200 $300 $400 5 $507 $534 $562 $540 $509 Noninterest-bearing Interest bearing 2Q21 3Q21 4Q21 1Q22 2Q22 $0 $100 $200 $300 $400 $500 $600 28 68% 69% 71% 71% 72% 32% 31% 29% 29% 28%

Global Banking Digital Update 76% Digitally active clients across commercial, corporate, and business banking clients (CashPro® & BA360 platforms) 192 bps YoY1 Digital Adoption 1.8MM Sign-ins on the CashPro® App, rolling 12 months2 46% YoY $537B Payment approvals on the CashPro® App, rolling 12 months2 120% YoY ~34MM Intelligent Receivables® (digitally matched), rolling 12 months1 56% YoY 87K Global digital wallet account enrollment for commercial cards 99% YoY1 ~64MM Proactive alerts and insights from CashPro®, rolling 12 months2 13% YoY 1.6MM Global payments to digital wallets, rolling 12 months1 27% YoY Client Engagement Online Mobile Connect API Digital Volumes 1 As of May, 2022. 2 As of June, 2022. Creating an innovative digital experience for our clients 29

Global Markets Trends and Revenue Mix Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 Represents a non-GAAP financial measure. Reported Global Markets revenue was $9.8B for 2022 YTD. Reported sales and trading revenue was $8.9B, $8.6B, $8.8B and $6.7B for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. Reported FICC sales and trading revenue was $5.2B, $5.2B, $5.9B and $4.4B for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. Reported Equities sales and trading revenue was $3.7B, $3.5B, $2.9B and $2.3B for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. See note E on slide 33 and slide 36 for important presentation information. 3 Macro includes currencies, interest rates and commodities products. 4 See note G on slide 33 for definition of VaR. 2022 YTD Global Markets Revenue Mix (excl. net DVA)2 Business Leadership1 • Global Derivatives House of the Year(S) • Clearing House of the Year(S) • Interest Rate Derivatives House of the Year(T) • Global Leader for Sustainable Project Finance(L) • No. 2 Global Research Firm(U) • No. 2 Global Fixed Income Research Team(U) • No. 1 Municipal Bonds Underwriter(V) 2022 YTD Total FICC S&T Revenue Mix (excl. net DVA)2 Total Sales and Trading Revenue (excl. net DVA) ($B)2 Average Trading-Related Assets ($B) and VaR ($MM)4 $6.8 $8.7 $8.7 $8.6 4.5 5.9 5.2 5.0 2.3 2.9 3.5 3.7 FICC Equities 2019 YTD 2020 YTD 2021 YTD 2022 YTD $0.0 $2.5 $5.0 $7.5 $10.0 $485 $485 $534 $601 $36 $65 $76 $99 Avg. trading-related assets Avg. VaR 2019 YTD 2020 YTD 2021 YTD 2022 YTD $0 $250 $500 $750 $0 $25 $50 $75 $100 $125 60% 40% U.S. / Canada International 35% 65% Credit / Other Macro 3 30

Additional Presentation Information

Daily Loan and Lease Balance Trends ($B) 1 Excludes balances related to PPP (recorded in Commercial) of $2.1B, $3.0B, $4.7B, $8.4B, and $15.7B for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively. End of period total loans and leases were $1,030.8B, $993.1B, $979.1B, $927.7B, and $918.9B for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively. End of period Commercial loans and leases were $582.3B, $554.3B, $543.4B, $504.3B and $500.8B for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively. Excluding end of period PPP loan balances, total loans and leases were $1,028.7B and $990.2B for 2Q22 and 1Q22, and Commercial loan balances were $580.2B and $551.3B. Total loans and leases increased $37.6B, and excluding PPP loan balances, increased $38.6B, quarter-over-quarter. Total Commercial loans and leases increased $28.0B, and excluding PPP loan balances, increased $28.9B, quarter-over-quarter. Loan data excludes loans held-for-sale. 2 Credit card and residential mortgage only include balances recorded in Consumer Banking and GWIM, and exclude loans held-for-sale. Loans and Leases in Business Segments ex. PPP1 Credit Card2 Residential Mortgage2 Total Loans and Leases ex. PPP1 32 12/31/19 06/30/22 $850 $900 $950 $1,000 $1,050 $1,100 12/31/19 06/30/22 $350 $400 $450 $500 $550 $600 12/31/19 06/30/22 $70 $80 $90 $100 12/31/19 06/30/22 $190 $200 $210 $220 $230 Commercial Consumer

A Reserve Build (or Release) is calculated by subtracting net charge-offs for the period from the provision for credit losses recognized in that period. The period-end allowance, or reserve, for credit losses reflects the beginning of the period allowance adjusted for net charge-offs recorded in that period plus the provision for credit losses recognized in that period. B Pretax, pre-provision income (PTPI) at the consolidated level is a non-GAAP financial measure calculated by adjusting consolidated pretax income to add back provision for credit losses. Similarly, PTPI at the segment level is a non-GAAP financial measure calculated by adjusting the segments’ pretax income to add back provision for credit losses. Management believes that PTPI (both at the consolidated and segment level) is a useful financial measure as it enables an assessment of the Corporation’s ability to generate earnings to cover credit losses through a credit cycle as well as provides an additional basis for comparing the Corporation's results of operations between periods by isolating the impact of provision for credit losses, which can vary significantly between periods. See reconciliation below. C Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, inclusive of U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and other investment-grade securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity among legal entities may be subject to certain regulatory and other restrictions. D Interest rate sensitivity as of June 30, 2022, reflects the pretax impact to forecasted net interest income over the next 12 months from June 30, 2022 resulting from an instantaneous parallel shock to the market-based forward curve. The sensitivity analysis assumes that we take no action in response to this rate shock and does not assume any change in other macroeconomic variables normally correlated with changes in interest rates. As part of our asset and liability management activities, we use securities, certain residential mortgages, and interest rate and foreign exchange derivatives in managing interest rate sensitivity. The behavior of our deposits portfolio in the forecast is a key assumption in our projected estimate of net interest income. The sensitivity analysis assumes no change in deposit portfolio size or mix from our baseline forecast to the alternate rate environment. In higher rate scenarios, any customer activity resulting in the replacement of low-cost or noninterest-bearing deposits with higher yielding deposits or market-based funding would reduce our benefit in those scenarios. E Revenue for all periods included net debit valuation adjustments (DVA) on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Net DVA gains (losses) were $158MM, $69MM and ($34MM) for 2Q22, 1Q22 and 2Q21, respectively, and $227MM, ($36MM), $39MM and ($121MM) for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. Net DVA gains (losses) included in FICC revenue were $160MM, $60MM and ($28MM) for 2Q22, 1Q22 and 2Q21, respectively, and $220MM, ($37MM), $29MM and ($109MM) for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. Net DVA gains (losses) included in Equities revenue were ($2MM), $9MM and ($6MM) for 2Q22, 1Q22 and 2Q21, respectively, and $7MM, $1MM, $10MM and ($12MM) for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. F Effective October 1, 2021, a business activity previously included in the Global Markets segment is being reported as a liquidating business in All Other, consistent with a realignment in performance reporting to senior management. The activity was not material to Global Market's results of operations and historical results for 2Q22 were not restated. G VaR model uses a historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Using a 95% confidence level, average VaR was $36MM, $30MM, $32MM, $21MM and $19MM for 2Q22, 1Q22, 2Q21, 2Q20 and 2Q19, respectively, and $33MM, $29MM, $24MM and $20MM for 2022 YTD, 2021 YTD, 2020 YTD and 2019 YTD, respectively. Notes $ Millions 2Q22 1Q22 2Q21 Pretax Income (GAAP) Provision for Credit Losses (GAAP) Pretax, Pre-provision Income Pretax Income (GAAP) Provision for Credit Losses (GAAP) Pretax, Pre-provision Income Pretax Income (GAAP) Provision for Credit Losses (GAAP) Pretax, Pre-provision Income Consumer Banking $ 3,827 $ 350 $ 4,177 $ 3,944 $ (52) $ 3,892 $ 4,024 $ (697) $ 3,327 Global Wealth & Investment Management 1,525 33 1,558 1,502 (41) 1,461 1,314 (62) 1,252 Global Banking 2,050 157 2,207 2,346 165 2,511 3,322 (831) 2,491 Global Markets 1,385 8 1,393 2,170 5 2,175 1,227 22 1,249 All Other (1,792) (25) (1,817) (1,977) (47) (2,024) (1,735) (53) (1,788) Total Corporation $ 6,892 $ 523 $ 7,415 $ 7,879 $ 30 $ 7,909 $ 8,042 $ (1,621) $ 6,421 33

Business Leadership Sources (A) Estimated U.S. retail deposits based on June 30, 2021 FDIC deposit data. (B) Keynova 2Q22 Online Banker Scorecard, Javelin 2021 Online and Mobile Banking Scorecards. (C) Bank of America received the highest score in the J.D. Power 2022 Merchant Services Satisfaction Study of customers’ satisfaction with credit card/debit payment processors among small business owners/operators. Visit jdpower.com/awards for more details. (D) FDIC, 1Q22. (E) Global Finance, May 2022. (F) Global Finance, August 2021. (G) J.D. Power 2022 Financial Health Support CertificationSM is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards. (H) Industry Q1-22 FDIC call reports. (I) Family Wealth Report, 2022. (J) Global Private Banking, The Digital Banker, 2021. (K) WealthBriefing, 2022. (L) Global Finance, 2022. (M) Euromoney, 2022. (N) Global Finance Treasury & Cash Management Awards, 2022. (O) Celent, 2022. (P) Transaction Banking Awards, The Banker, 2021. (Q) Greenwich, 2022. (R) Global Finance, 2021. (S) GlobalCapital, 2021. (T) Risk.net, 2022. (U) Institutional Investor, 2021. (V) Refinitiv, 2022 YTD. 34

Forward-Looking Statements Bank of America Corporation (the “Corporation”) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward- looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Corporation’s current expectations, plans or forecasts of its future results, revenues, provision for credit losses, expenses, efficiency ratio, capital measures, strategy, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Corporation’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of the Corporation’s 2021 Annual Report on Form 10-K and in any of the Corporation’s subsequent Securities and Exchange Commission filings: the Corporation’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions, including as a result of our participation in and execution of government programs related to the Coronavirus Disease 2019 (COVID-19) pandemic, such as the processing of unemployment benefits for California and certain other states; the possibility that the Corporation's future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation, and regulatory and government actions; the possibility that the Corporation could face increased claims from one or more parties involved in mortgage securitizations; the Corporation’s ability to resolve representations and warranties repurchase and related claims; the risks related to the discontinuation of the London Interbank Offered Rate and other reference rates, including increased expenses and litigation and the effectiveness of hedging strategies; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Corporation’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, inflation, currency exchange rates, economic conditions, trade policies and tensions, including tariffs, and potential geopolitical instability; the impact of the interest rate and inflationary environment on the Corporation’s business, financial condition and results of operations; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; potential losses related to the Corporation’s concentration of credit risk; the Corporation's ability to achieve its expense targets and expectations regarding revenue, net interest income, provision for credit losses, net charge-offs, effective tax rate, loan growth or other projections; adverse changes to the Corporation’s credit ratings from the major credit rating agencies; an inability to access capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of the Corporation’s assets and liabilities; the estimated or actual impact of changes in accounting standards or assumptions in applying those standards; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements; the impact of adverse changes to total loss-absorbing capacity requirements, stress capital buffer requirements and/or global systemically important bank surcharges; the potential impact of actions of the Board of Governors of the Federal Reserve System on the Corporation’s capital plans; the effect of changes in or interpretations of income tax laws and regulations; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including, but not limited to, recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, the Volcker Rule, fiduciary standards, derivatives regulations and the Coronavirus Aid, Relief, and Economic Security Act and any similar or related rules and regulations; a failure or disruption in or breach of the Corporation’s operational or security systems or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the risks related to the transition and physical impacts of climate change; our ability to achieve environmental, social and governance goals and commitments or the impact of any changes in the Corporation's sustainability strategy or commitments generally; the impact of any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in fiscal, monetary or regulatory policy; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on U.S. and/or global financial market conditions and our business, results of operations, financial condition and prospects; the impact of natural disasters, extreme weather events, military conflict (including the Russia/ Ukraine conflict and potential geopolitical consequences), terrorism or other geopolitical events; and other matters. Forward-looking statements speak only as of the date they are made, and the Corporation undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. 35

Important Presentation Information 36 • The information contained herein is preliminary and based on Corporation data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying slides. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. • The Corporation may present certain metrics and ratios, including year-over-year comparisons of revenue, noninterest expense and pretax income, excluding certain items (e.g., DVA) that are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. For more information about the non-GAAP financial measures contained herein, please see the presentation of the most directly comparable financial measures calculated in accordance with GAAP and accompanying reconciliations in the earnings press release for the quarter ended June 30, 2022, and other earnings-related information available through the Bank of America Investor Relations website at: https://investor.bankofamerica.com/quarterly-earnings. • The Corporation presents certain key financial and nonfinancial performance indicators that management uses when assessing consolidated and/or segment results. The Corporation believes this information is useful because it provides management with information about underlying operational performance and trends. KPIs are presented in 2Q22 Financial Results on slide 2 and on the Summary Income Statement for each segment. • The Corporation views net interest income and related ratios and analyses on a fully taxable-equivalent (FTE) basis, which when presented on a consolidated basis are non-GAAP financial measures. The Corporation believes managing the business with net interest income on an FTE basis provides investors with meaningful information on the interest margin for comparative purposes. The Corporation believes that the presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The FTE adjustment was $103MM, $106MM, $105MM, $101MM and $110MM for 2Q22, 1Q22, 4Q21, 3Q21 and 2Q21, respectively. • The Corporation allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile, and strategic plans. As a result of this process, in the first quarter of 2022, the Corporation adjusted the amount of capital being allocated to its business segments.

Supplemental Information

Second Quarter 2022

Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the Corporation’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at the Corporation’s website (www.bankofamerica.com). The Corporation’s future financial performance is subject to risks and uncertainties as described in its SEC filings.


Bank of America Corporation and Subsidiaries
Table of Contents			Page


Consolidated Financial Highlights			2
Consolidated Statement of Income			3
Consolidated Statement of Comprehensive Income			3
Net Interest Income and Noninterest Income			4
Consolidated Balance Sheet			5
Capital Management			6
Capital Composition under Basel 3			7
Quarterly Average Balances and Interest Rates			8

Debt Securities			9
Supplemental Financial Data			10
Quarterly Results by Business Segment and All Other			11
Year-to-Date Results by Business Segment and All Other			13
Consumer Banking
Total Segment Results			14
Key Indicators			15
Business Results			16
Global Wealth & Investment Management
Total Segment Results			18
Key Indicators			19
Global Banking
Total Segment Results			20
Key Indicators			21

Global Markets
Total Segment Results			22
Key Indicators			23
All Other
Total Results			24
Outstanding Loans and Leases			25
Quarterly Average Loans and Leases by Business Segment and All Other			26
Commercial Credit Exposure by Industry			27

Nonperforming Loans, Leases and Foreclosed Properties			28
Nonperforming Loans, Leases and Foreclosed Properties Activity			29
Quarterly Net Charge-offs and Net Charge-off Ratios			30
Year-to-Date Net Charge-offs and Net Charge-off Ratios			31
Allocation of the Allowance for Credit Losses by Product Type			32

Exhibit A: Non-GAAP Reconciliations			33







Key Performance Indicators

The Corporation presents certain key financial and nonfinancial performance indicators that management uses when assessing consolidated and/or segment results. The Corporation believes this information is useful because it provides management with information about underlying operational performance and trends. Key performance indicators are presented in Consolidated Financial Highlights on page 2 and on the Key Indicators pages for each segment.

Business Segment Operations

The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 11 - 13 are reported on an FTE basis.


Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Income statement
Net interest income	$	24,016		$	20,430		$	12,444		$	11,572		$	11,410		$	11,094		$	10,233
Noninterest income	21,900			23,857			10,244			11,656			10,650			11,672			11,233
Total revenue, net of interest expense	45,916			44,287			22,688			23,228			22,060			22,766			21,466
Provision for credit losses	553			(3,481)			523			30			(489)			(624)			(1,621)
Noninterest expense	30,592			30,560			15,273			15,319			14,731			14,440			15,045
Income before income taxes	14,771			17,208			6,892			7,879			7,818			8,950			8,042
Pretax, pre-provision income (1)	15,324			13,727			7,415			7,909			7,329			8,326			6,421
Income tax expense	1,457			(66)			645			812			805			1,259			(1,182)
Net income	13,314			17,274			6,247			7,067			7,013			7,691			9,224
Preferred stock dividends	782			750			315			467			240			431			260
Net income applicable to common shareholders	12,532			16,524			5,932			6,600			6,773			7,260			8,964
Diluted earnings per common share	1.53			1.90			0.73			0.80			0.82			0.85			1.03
Average diluted common shares issued and outstanding	8,182.2			8,776.2			8,163.1			8,202.1			8,304.7			8,492.8			8,735.5
Dividends paid per common share	$	0.42		$	0.36		$	0.21		$	0.21		$	0.21		$	0.21		$	0.18

Performance ratios
Return on average assets	0.84		%	1.18		%	0.79		%	0.89		%	0.88		%	0.99		%	1.23		%
Return on average common shareholders’ equity	10.48			13.31			9.93			11.02			10.90			11.43			14.33
Return on average shareholders’ equity	9.99			12.70			9.34			10.64			10.27			11.08			13.47
Return on average tangible common shareholders’ equity (2)	14.78			18.51			14.05			15.51			15.25			15.85			19.90
Return on average tangible shareholders’ equity (2)	13.52			17.07			12.66			14.40			13.87			14.87			18.11
Efficiency ratio	66.63			69.00			67.32			65.95			66.78			63.43			70.09


At period end
Book value per share of common stock	$	29.87		$	29.89		$	29.87		$	29.70		$	30.37		$	30.22		$	29.89
Tangible book value per share of common stock (2)	21.13			21.61			21.13			20.99			21.68			21.69			21.61
Market capitalization	250,136			349,925			250,136			332,320			359,383			349,841			349,925
Number of financial centers - U.S.	3,984			4,296			3,984			4,056			4,173			4,215			4,296
Number of branded ATMs - U.S.	15,730			16,795			15,730			15,959			16,209			16,513			16,795
Headcount	209,824			211,608			209,824			208,139			208,248			209,407			211,608

(1) Pretax, pre-provision income (PTPI) is a non-GAAP financial measure calculated by adjusting pretax income to add back provision for credit losses. Management believes that PTPI is a useful financial measure because it enables an assessment of the Corporation's ability to generate earnings to cover credit losses through a credit cycle. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 33.)

(2) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 33.)


Current-period information is preliminary and based on company data available at the time of the presentation.			2


Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021
Net interest income
Interest income	$	27,869	$	22,782	$	14,975	$	12,894	$	12,554	$	12,336	$	11,387
Interest expense	3,853		2,352		2,531		1,322		1,144		1,242		1,154
Net interest income	24,016		20,430		12,444		11,572		11,410		11,094		10,233

Noninterest income
Fees and commissions	17,476		19,241		8,491		8,985		10,143		9,915		9,705
Market making and similar activities	5,955		5,355		2,717		3,238		1,331		2,005		1,826
Other income (loss)	(1,531)		(739)		(964)		(567)		(824)		(248)		(298)
Total noninterest income	21,900		23,857		10,244		11,656		10,650		11,672		11,233
Total revenue, net of interest expense	45,916		44,287		22,688		23,228		22,060		22,766		21,466

Provision for credit losses	553		(3,481)		523		30		(489)		(624)		(1,621)

Noninterest expense
Compensation and benefits	18,399		18,389		8,917		9,482		9,037		8,714		8,653
Occupancy and equipment	3,508		3,589		1,748		1,760		1,785		1,764		1,759
Information processing and communications	3,075		2,873		1,535		1,540		1,480		1,416		1,448
Product delivery and transaction related	1,857		1,953		924		933		941		987		976
Marketing	860		1,181		463		397		411		347		810
Professional fees	968		829		518		450		512		434		426
Other general operating	1,925		1,746		1,168		757		565		778		973
Total noninterest expense	30,592		30,560		15,273		15,319		14,731		14,440		15,045
Income before income taxes	14,771		17,208		6,892		7,879		7,818		8,950		8,042
Income tax expense	1,457		(66)		645		812		805		1,259		(1,182)
Net income	$	13,314	$	17,274	$	6,247	$	7,067	$	7,013	$	7,691	$	9,224
Preferred stock dividends	782		750		315		467		240		431		260
Net income applicable to common shareholders	$	12,532	$	16,524	$	5,932	$	6,600	$	6,773	$	7,260	$	8,964

Per common share information
Earnings	$	1.54	$	1.91	$	0.73	$	0.81	$	0.82	$	0.86	$	1.04
Diluted earnings	1.53		1.90		0.73		0.80		0.82		0.85		1.03
Average common shares issued and outstanding	8,129.3		8,660.4		8,121.6		8,136.8		8,226.5		8,430.7		8,620.8
Average diluted common shares issued and outstanding	8,182.2		8,776.2		8,163.1		8,202.1		8,304.7		8,492.8		8,735.5


Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021
Net income	$	13,314	$	17,274	$	6,247	$	7,067	$	7,013	$	7,691	$	9,224
Other comprehensive income (loss), net-of-tax:
Net change in debt securities	(5,269)		(1,090)		(1,822)		(3,447)		(834)		(153)		(250)
Net change in debit valuation adjustments	836		265		575		261		64		27		149
Net change in derivatives	(7,187)		(699)		(2,008)		(5,179)		(1,176)		(431)		415
Employee benefit plan adjustments	60		120		36		24		454		50		69
Net change in foreign currency translation adjustments	(10)		(3)		(38)		28		(16)		(26)		26
Other comprehensive income (loss)	(11,570)		(1,407)		(3,257)		(8,313)		(1,508)		(533)		409
Comprehensive income (loss)	$	1,744	$	15,867	$	2,990	$	(1,246)	$	5,505	$	7,158	$	9,633


Current-period information is preliminary and based on company data available at the time of the presentation.			3


Bank of America Corporation and Subsidiaries
Net Interest Income and Noninterest Income
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021
Net interest income
Interest income
Loans and leases	$	15,574	$	14,357	$	8,222	$	7,352	$	7,423	$	7,502	$	7,123
Debt securities	7,872		5,550		4,049		3,823		3,544		3,282		2,820
Federal funds sold and securities borrowed or purchased under agreements to resell	389		(49)		396		(7)		(47)		6		(42)
Trading account assets	2,304		1,826		1,223		1,081		977		967		954
Other interest income	1,730		1,098		1,085		645		657		579		532
Total interest income	27,869		22,782		14,975		12,894		12,554		12,336		11,387

Interest expense
Deposits	484		261		320		164		143		133		128
Short-term borrowings	441		(164)		553		(112)		(153)		(41)		(85)
Trading account liabilities	734		539		370		364		304		285		293
Long-term debt	2,194		1,716		1,288		906		850		865		818
Total interest expense	3,853		2,352		2,531		1,322		1,144		1,242		1,154
Net interest income	$	24,016	$	20,430	$	12,444	$	11,572	$	11,410	$	11,094	$	10,233

Noninterest income
Fees and commissions
Card income
Interchange fees (1)	$	2,007	$	2,277	$	1,072	$	935	$	1,129	$	1,154	$	1,210
Other card income	951		744		483		468		485		429		376
Total card income	2,958		3,021		1,555		1,403		1,614		1,583		1,586
Service charges
Deposit-related fees	2,947		3,052		1,417		1,530		1,600		1,619		1,557
Lending-related fees	603		614		300		303		310		309		317
Total service charges	3,550		3,666		1,717		1,833		1,910		1,928		1,874
Investment and brokerage services
Asset management fees	6,388		6,158		3,102		3,286		3,295		3,276		3,156
Brokerage fees	1,995		2,028		989		1,006		973		960		967
Total investment and brokerage services	8,383		8,186		4,091		4,292		4,268		4,236		4,123
Investment banking fees
Underwriting income	1,107		2,860		435		672		1,049		1,168		1,314
Syndication fees	613		701		301		312		452		346		401
Financial advisory services	865		807		392		473		850		654		407
Total investment banking fees	2,585		4,368		1,128		1,457		2,351		2,168		2,122
Total fees and commissions	17,476		19,241		8,491		8,985		10,143		9,915		9,705
Market making and similar activities	5,955		5,355		2,717		3,238		1,331		2,005		1,826
Other income (loss)	(1,531)		(739)		(964)		(567)		(824)		(248)		(298)
Total noninterest income	$	21,900	$	23,857	$	10,244	$	11,656	$	10,650	$	11,672	$	11,233

(1)Gross interchange fees and merchant income were $6.2 billion and $5.4 billion and are presented net of $4.2 billion and $3.1 billion of expenses for rewards and partner payments as well as certain other card costs for the six months ended June 30, 2022 and 2021. Gross interchange fees and merchant income were $3.3 billion, $2.9 billion, $3.1 billion, $3.0 billion and $2.9 billion and are presented net of $2.2 billion, $2.0 billion, $2.0 billion, $1.8 billion and $1.7 billion of expenses for rewards and partner payments as well as certain other card costs for the second and first quarters of 2022 and the fourth, third, and second quarters of 2021, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			4


Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
		June 30 2022		March 31 2022		June 30 2021
Assets
Cash and due from banks		$	29,497	$	29,769	$	30,327
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		168,505		244,165		229,703
Cash and cash equivalents		198,002		273,934		260,030
Time deposits placed and other short-term investments		6,841		5,645		7,356
Federal funds sold and securities borrowed or purchased under agreements to resell		272,430		302,108		268,594
Trading account assets		294,027		313,400		291,733
Derivative assets		62,047		48,231		41,498
Debt securities:
Carried at fair value		274,665		297,700		288,913
Held-to-maturity, at cost		658,245		672,180		651,401
Total debt securities		932,910		969,880		940,314
Loans and leases		1,030,766		993,145		918,928
Allowance for loan and lease losses		(11,973)		(12,104)		(14,095)
Loans and leases, net of allowance		1,018,793		981,041		904,833
Premises and equipment, net		11,016		10,820		10,747
Goodwill		69,022		69,022		69,023
Loans held-for-sale		6,654		10,270		8,277
Customer and other receivables		79,893		83,622		67,967
Other assets		159,971		170,250		159,522
Total assets		$	3,111,606	$	3,238,223	$	3,029,894

Liabilities
Deposits in U.S. offices:
Noninterest-bearing		$	741,676	$	787,045	$	719,481
Interest-bearing		1,134,876		1,178,451		1,076,355
Deposits in non-U.S. offices:
Noninterest-bearing		26,770		27,589		25,190
Interest-bearing		81,027		79,324		88,116
Total deposits		1,984,349		2,072,409		1,909,142
Federal funds purchased and securities loaned or sold under agreements to repurchase		204,307		214,685		213,787
Trading account liabilities		97,302		117,122		110,084
Derivative liabilities		38,425		44,266		38,916
Short-term borrowings		27,886		24,789		21,635
Accrued expenses and other liabilities		214,522		219,625		184,607
Long-term debt		275,697		278,710		274,604
Total liabilities		2,842,488		2,971,606		2,752,775
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 4,117,686, 4,037,686 and 3,887,686 shares		29,134		27,137		23,441
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 8,035,221,887, 8,062,102,236 and 8,487,151,465 shares		59,499		59,968		79,242
Retained earnings		197,159		192,929		177,499
Accumulated other comprehensive income (loss)		(16,674)		(13,417)		(3,063)
Total shareholders’ equity		269,118		266,617		277,119
Total liabilities and shareholders’ equity		$	3,111,606	$	3,238,223	$	3,029,894

	Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
	Trading account assets	$	2,294	$	2,160	$	4,418
	Loans and leases	16,170		15,946		16,970
	Allowance for loan and lease losses	(832)		(880)		(1,047)
	Loans and leases, net of allowance	15,338		15,066		15,923

	All other assets	177		417		1,134
	Total assets of consolidated variable interest entities	$	17,809	$	17,643	$	21,475

	Liabilities of consolidated variable interest entities included in total liabilities above
	Short-term borrowings	$	165	$	228	$	324
	Long-term debt	4,509		3,557		5,137
	All other liabilities	12		6		15
	Total liabilities of consolidated variable interest entities	$	4,686	$	3,791	$	5,476


Current-period information is preliminary and based on company data available at the time of the presentation.			5


Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	June 30 2022			March 31 2022			June 30 2021
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	171,754		$	169,874		$	178,818
Tier 1 capital	200,872			197,007			202,245
Total capital	232,316			229,186			234,486
Risk-weighted assets	1,640,017			1,638,958			1,551,668
Common equity tier 1 capital ratio	10.5		%	10.4		%	11.5		%
Tier 1 capital ratio	12.2			12.0			13.0
Total capital ratio	14.2			14.0			15.1

Advanced Approaches
Common equity tier 1 capital	$	171,754		$	169,874		$	178,818
Tier 1 capital	200,872			197,007			202,245
Total capital	225,565			222,481			227,736
Risk-weighted assets	1,408,872			1,415,505			1,379,805
Common equity tier 1 capital ratio	12.2		%	12.0		%	13.0		%
Tier 1 capital ratio	14.3			13.9			14.7
Total capital ratio	16.0			15.7			16.5

Leverage-based metrics (1):
Adjusted average assets	$	3,080,248		$	3,129,996		$	2,938,476
Tier 1 leverage ratio	6.5		%	6.3		%	6.9		%

Supplementary leverage exposure	$	3,620,791		$	3,661,948		$	3,443,834
Supplementary leverage ratio	5.5		%	5.4		%	5.9		%

Tangible equity ratio (2)	6.5			6.2			7.0
Tangible common equity ratio (2)	5.6			5.3			6.2

(1)Regulatory capital ratios at June 30, 2022 are preliminary. We report regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy.

(2)Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 33.)


Current-period information is preliminary and based on company data available at the time of the presentation.			6


Bank of America Corporation and Subsidiaries
Capital Composition under Basel 3
(Dollars in millions)
	June 30 2022		March 31 2022		June 30 2021
Total common shareholders' equity	$	239,984	$	239,480	$	253,678
CECL transitional amount (1)	1,881		1,881		2,994
Goodwill, net of related deferred tax liabilities	(68,641)		(68,641)		(68,638)
Deferred tax assets arising from net operating loss and tax credit carryforwards	(7,746)		(7,843)		(7,641)
Intangibles, other than mortgage servicing rights, net of related deferred tax liabilities	(1,575)		(1,589)		(1,662)
Defined benefit pension plan net assets	(1,236)		(1,248)		(1,196)
Cumulative unrealized net (gain) loss related to changes in fair value of financial liabilities attributable to own creditworthiness, net-of-tax	303		1,047		1,499
Accumulated net (gain) loss on certain cash flow hedges (2)	9,059		7,049		265
Other	(275)		(262)		(481)
Common equity tier 1 capital	171,754		169,874		178,818
Qualifying preferred stock, net of issuance cost	29,134		27,136		23,440
Other	(16)		(3)		(13)
Tier 1 capital	200,872		197,007		202,245
Tier 2 capital instruments	20,753		21,737		20,674
Qualifying allowance for credit losses (3)	10,975		11,000		11,993
Other	(284)		(558)		(426)
Total capital under the Standardized approach	232,316		229,186		234,486
Adjustment in qualifying allowance for credit losses under the Advanced approaches (3)	(6,751)		(6,705)		(6,750)
Total capital under the Advanced approaches	$	225,565	$	222,481	$	227,736

(1)June 30, 2021 includes the impact of the Corporation's adoption of the current expected credit losses (CECL) accounting standard on January 1, 2020 and 25 percent of the increase in reserves since the initial adoption. June 30, 2022 and March 31, 2022 include 75 percent of the transition provision's impact as of December 31, 2021.

(2)Includes amounts in accumulated other comprehensive income related to the hedging of items that are not recognized at fair value on the Consolidated Balance Sheet.

(3)Includes the impact of transition provisions related to the CECL accounting standard.


Current-period information is preliminary and based on company data available at the time of the presentation.			7


Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Second Quarter 2022						First Quarter 2022						Second Quarter 2021
	Average Balance		Interest Income/ Expense (1)		Yield/ Rate		Average Balance		Interest Income/ Expense (1)		Yield/ Rate		Average Balance		Interest Income/ Expense (1)		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	178,313	$	282	0.63	%	$	244,971	$	86	0.14	%	$	247,673	$	27	0.04	%
Time deposits placed and other short-term investments	7,658		12		0.62		9,253		12		0.52		8,079		—		0.02
Federal funds sold and securities borrowed or purchased under agreements to resell	304,684		396		0.52		299,404		(7)		(0.01)		270,443		(42)		(0.06)
Trading account assets	147,442		1,241		3.37		151,969		1,096		2.92		152,307		967		2.55
Debt securities	945,927		4,067		1.72		975,656		3,838		1.58		895,902		2,834		1.27
Loans and leases (2)
Residential mortgage	228,529		1,571		2.75		223,979		1,525		2.73		214,096		1,498		2.80
Home equity	27,415		235		3.44		27,784		220		3.21		31,621		267		3.39
Credit card	81,024		1,954		9.68		78,409		1,940		10.03		73,399		1,876		10.25

Direct/Indirect and other consumer	108,639		696		2.57		104,632		579		2.25		94,321		561		2.38

Total consumer	445,607		4,456		4.01		434,804		4,264		3.96		413,437		4,202		4.07
U.S. commercial	363,978		2,525		2.78		346,510		2,127		2.49		322,633		2,049		2.55
Non-U.S. commercial	128,237		696		2.18		118,767		504		1.72		96,343		429		1.78
Commercial real estate	63,072		476		3.02		63,065		387		2.49		59,276		371		2.51
Commercial lease financing	13,992		104		2.95		14,647		106		2.92		16,211		108		2.67
Total commercial	569,279		3,801		2.68		542,989		3,124		2.33		494,463		2,957		2.40
Total loans and leases	1,014,886		8,257		3.26		977,793		7,388		3.06		907,900		7,159		3.16
Other earning assets	108,180		823		3.06		120,798		587		1.97		96,364		552		2.30
Total earning assets	2,707,090		15,078		2.23		2,779,844		13,000		1.89		2,578,668		11,497		1.79
Cash and due from banks	29,025						28,082						31,675
Other assets, less allowance for loan and lease losses	421,740						399,776						404,770
Total assets	$	3,157,855					$	3,207,702					$	3,015,113
Interest-bearing liabilities
U.S. interest-bearing deposits

Demand and money market deposits	$	985,983	$	189	0.08	%	$	1,001,184	$	80	0.03	%	$	915,420	$	78	0.03	%

Time and savings deposits	156,824		42		0.11		163,981		40		0.10		162,516		40		0.10
Total U.S. interest-bearing deposits	1,142,807		231		0.08		1,165,165		120		0.04		1,077,936		118		0.04




Non-U.S. interest-bearing deposits	79,471		89		0.45		81,879		44		0.22		82,142		10		0.05
Total interest-bearing deposits	1,222,278		320		0.11		1,247,044		164		0.05		1,160,078		128		0.04
Federal funds purchased and securities loaned or sold under agreements to repurchase (3)	214,777		454		0.85		217,152		79		0.15		214,841		122		0.23
Short-term borrowings and other interest-bearing liabilities (3)	134,790		99		0.30		126,454		(191)		(0.61)		105,473		(207)		(0.79)
Trading account liabilities	54,005		370		2.74		64,240		364		2.30		58,823		293		2.01
Long-term debt	245,781		1,288		2.10		246,042		906		1.50		232,034		818		1.42
Total interest-bearing liabilities	1,871,631		2,531		0.54		1,900,932		1,322		0.28		1,771,249		1,154		0.26
Noninterest-bearing sources
Noninterest-bearing deposits	789,801						798,767						728,756
Other liabilities (4)	228,226						238,694						240,476
Shareholders’ equity	268,197						269,309						274,632
Total liabilities and shareholders’ equity	$	3,157,855					$	3,207,702					$	3,015,113
Net interest spread					1.69	%					1.61	%					1.53	%
Impact of noninterest-bearing sources					0.17						0.08						0.08
Net interest income/yield on earning assets (5)			$	12,547	1.86	%			$	11,678	1.69	%			$	10,343	1.61	%

(1)Includes the impact of interest rate risk management contracts.

(2)Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.

(3)Certain prior-period amounts have been reclassified to conform to current-period presentation.

(4)Includes $29.7 billion, $30.2 billion and $30.5 billion of structured notes and liabilities for the second and first quarters of 2022 and the second quarter of 2021, respectively.

(5)Net interest income includes FTE adjustments of $103 million, $106 million and $110 million for the second and first quarters of 2022 and the second quarter of 2021, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			8


Bank of America Corporation and Subsidiaries
Debt Securities
(Dollars in millions)
	June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	29,999	$	46	$	(1,320)	$	28,725
Agency-collateralized mortgage obligations	2,741		4		(132)		2,613
Commercial	13,038		130		(608)		12,560
Non-agency residential	477		16		(63)		430
Total mortgage-backed securities	46,255		196		(2,123)		44,328
U.S. Treasury and government agencies	195,527		540		(2,012)		194,055
Non-U.S. securities	11,879		—		(43)		11,836
Other taxable securities	3,318		6		(54)		3,270

Tax-exempt securities	12,976		44		(255)		12,765
Total available-for-sale debt securities	269,955		786		(4,487)		266,254
Other debt securities carried at fair value (1)	8,645		41		(275)		8,411
Total debt securities carried at fair value	278,600		827		(4,762)		274,665
Held-to-maturity debt securities
Agency mortgage-backed securities	528,297		21		(67,193)		461,125
U.S. Treasury and government agencies	121,574		—		(14,896)		106,678
Other taxable securities	8,413		1		(675)		7,739
Total held-to-maturity debt securities	658,284		22		(82,764)		575,542
Total debt securities	$	936,884	$	849	$	(87,526)	$	850,207


	March 31, 2022
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	40,166	$	293	$	(965)	$	39,494
Agency-collateralized mortgage obligations	2,985		11		(102)		2,894
Commercial	19,330		336		(436)		19,230
Non-agency residential	502		5		(53)		454
Total mortgage-backed securities	62,983		645		(1,556)		62,072
U.S. Treasury and government agencies	193,081		1,186		(1,481)		192,786
Non-U.S. securities	15,192		—		(9)		15,183
Other taxable securities	4,007		12		(29)		3,990

Tax-exempt securities	15,325		81		(150)		15,256
Total available-for-sale debt securities	290,588		1,924		(3,225)		289,287
Other debt securities carried at fair value (1)	8,532		91		(210)		8,413
Total debt securities carried at fair value	299,120		2,015		(3,435)		297,700
Held-to-maturity debt securities
Agency mortgage-backed securities	542,601		619		(41,454)		501,766
U.S. Treasury and government agencies	120,863		—		(10,046)		110,817
Other taxable securities	8,754		5		(466)		8,293
Total held-to-maturity debt securities	672,218		624		(51,966)		620,876
Total debt securities	$	971,338	$	2,639	$	(55,401)	$	918,576

(1) Primarily includes non-U.S. securities used to satisfy certain international regulatory requirements.


Current-period information is preliminary and based on company data available at the time of the presentation.			9


Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)

	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021






FTE basis data (1)
Net interest income	$	24,225		$	20,651		$	12,547		$	11,678		$	11,515		$	11,195		$	10,343
Total revenue, net of interest expense	46,125			44,508			22,791			23,334			22,165			22,867			21,576
Net interest yield	1.77		%	1.64		%	1.86		%	1.69		%	1.67		%	1.68		%	1.61		%
Efficiency ratio	66.32			68.66			67.01			65.65			66.46			63.14			69.73

(1)FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with meaningful information on the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. Net interest income includes FTE adjustments of $209 million and $221 million for six months ended June 30, 2022 and 2021, $103 million and $106 million for the second and first quarters of 2022, and $105 million, $101 million and $110 million for the fourth, third and second quarters of 2021, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			10


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2022
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	12,547	$	7,087	$	1,802	$	2,634	$	981	$	43
Noninterest income
Fees and commissions:
Card income	1,555		1,320		17		196		17		5
Service charges	1,717		679		19		933		83		3
Investment and brokerage services	4,091		76		3,486		13		518		(2)
Investment banking fees	1,128		—		41		692		461		(66)
Total fees and commissions	8,491		2,075		3,563		1,834		1,079		(60)
Market making and similar activities	2,717		2		23		80		2,657		(45)
Other income (loss)	(964)		(28)		45		458		(215)		(1,224)
Total noninterest income (loss)	10,244		2,049		3,631		2,372		3,521		(1,329)
Total revenue, net of interest expense	22,791		9,136		5,433		5,006		4,502		(1,286)
Provision for credit losses	523		350		33		157		8		(25)
Noninterest expense	15,273		4,959		3,875		2,799		3,109		531
Income (loss) before income taxes	6,995		3,827		1,525		2,050		1,385		(1,792)
Income tax expense (benefit)	748		938		374		543		367		(1,474)
Net income (loss)	$	6,247	$	2,889	$	1,151	$	1,507	$	1,018	$	(318)

Average
Total loans and leases	$	1,014,886	$	289,595	$	219,277	$	377,248	$	114,375	$	14,391
Total assets (1)	3,157,855		1,154,773		409,472		601,945		866,742		124,923
Total deposits	2,012,079		1,078,020		363,943		509,261		41,192		19,663
Quarter end
Total loans and leases	$	1,030,766	$	294,570	$	221,705	$	385,376	$	118,290	$	10,825
Total assets (1)	3,111,606		1,154,366		393,948		591,490		835,129		136,673
Total deposits	1,984,349		1,077,215		347,991		499,714		40,055		19,374

	First Quarter 2022
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	11,678	$	6,680	$	1,668	$	2,344	$	993	$	(7)
Noninterest income
Fees and commissions:
Card income	1,403		1,185		18		176		14		10
Service charges	1,833		844		19		886		82		2
Investment and brokerage services	4,292		83		3,654		12		545		(2)
Investment banking fees	1,457		—		66		880		582		(71)
Total fees and commissions	8,985		2,112		3,757		1,954		1,223		(61)
Market making and similar activities	3,238		—		13		49		3,190		(14)
Other income (loss)	(567)		21		38		847		(114)		(1,359)
Total noninterest income (loss)	11,656		2,133		3,808		2,850		4,299		(1,434)
Total revenue, net of interest expense	23,334		8,813		5,476		5,194		5,292		(1,441)
Provision for credit losses	30		(52)		(41)		165		5		(47)
Noninterest expense	15,319		4,921		4,015		2,683		3,117		583
Income (loss) before income taxes	7,985		3,944		1,502		2,346		2,170		(1,977)
Income tax expense (benefit)	918		966		368		622		575		(1,613)
Net income (loss)	$	7,067	$	2,978	$	1,134	$	1,724	$	1,595	$	(364)

Average
Total loans and leases	$	977,793	$	284,068	$	210,937	$	358,807	$	108,576	$	15,405
Total assets (1)	3,207,702		1,133,001		431,040		630,517		858,719		154,425
Total deposits	2,045,811		1,056,100		384,902		539,912		44,393		20,504
Quarter end
Total loans and leases	$	993,145	$	286,322	$	214,273	$	367,423	$	110,037	$	15,090
Total assets (1)	3,238,223		1,166,443		433,122		623,168		883,304		132,186
Total deposits	2,072,409		1,088,940		385,288		533,820		43,371		20,990

(1)Total assets include asset allocations to match liabilities (i.e., deposits).


Current-period information is preliminary and based on company data available at the time of the presentation.			11


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Second Quarter 2021
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	10,343	$	5,973	$	1,355	$	1,984	$	990	$	41
Noninterest income
Fees and commissions:
Card income	1,586		1,312		21		180		73		—
Service charges	1,874		851		18		900		103		2
Investment and brokerage services	4,123		78		3,536		40		474		(5)
Investment banking fees	2,122		—		88		1,173		959		(98)
Total fees and commissions	9,705		2,241		3,663		2,293		1,609		(101)
Market making and similar activities	1,826		—		11		28		1,964		(177)
Other income (loss)	(298)		(28)		36		785		157		(1,248)
Total noninterest income (loss)	11,233		2,213		3,710		3,106		3,730		(1,526)
Total revenue, net of interest expense	21,576		8,186		5,065		5,090		4,720		(1,485)
Provision for credit losses	(1,621)		(697)		(62)		(831)		22		(53)
Noninterest expense	15,045		4,859		3,813		2,599		3,471		303
Income (loss) before income taxes	8,152		4,024		1,314		3,322		1,227		(1,735)
Income tax expense (benefit)	(1,072)		986		322		897		319		(3,596)
Net income (loss)	$	9,224	$	3,038	$	992	$	2,425	$	908	$	1,861

Average
Total loans and leases	$	907,900	$	281,767	$	193,988	$	325,110	$	87,826	$	19,209
Total assets (1)	3,015,113		1,054,516		380,315		595,498		797,558		187,226
Total deposits	1,888,834		979,072		333,487		506,618		55,584		14,073
Quarter end
Total loans and leases	$	918,928	$	282,900	$	198,361	$	323,256	$	96,105	$	18,306
Total assets (1)	3,029,894		1,063,650		378,220		607,969		773,714		206,341
Total deposits	1,909,142		987,655		330,624		520,026		57,297		13,540

(1)Total assets include asset allocations to match liabilities (i.e., deposits).


Current-period information is preliminary and based on company data available at the time of the presentation.			12


Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment and All Other
(Dollars in millions)
	Six Months Ended June 30, 2022
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	24,225	$	13,767	$	3,470	$	4,978	$	1,974	$	36
Noninterest income
Fees and commissions:
Card income	2,958		2,505		35		372		31		15
Service charges	3,550		1,523		38		1,819		165		5
Investment and brokerage services	8,383		159		7,140		25		1,063		(4)
Investment banking fees	2,585		—		107		1,572		1,043		(137)
Total fees and commissions	17,476		4,187		7,320		3,788		2,302		(121)
Market making and similar activities	5,955		2		36		129		5,847		(59)
Other income (loss)	(1,531)		(7)		83		1,305		(329)		(2,583)
Total noninterest income (loss)	21,900		4,182		7,439		5,222		7,820		(2,763)
Total revenue, net of interest expense	46,125		17,949		10,909		10,200		9,794		(2,727)
Provision for credit losses	553		298		(8)		322		13		(72)
Noninterest expense	30,592		9,880		7,890		5,482		6,226		1,114
Income (loss) before income taxes	14,980		7,771		3,027		4,396		3,555		(3,769)
Income tax expense (benefit)	1,666		1,904		742		1,165		942		(3,087)
Net income (loss)	$	13,314	$	5,867	$	2,285	$	3,231	$	2,613	$	(682)

Average
Total loans and leases	$	996,442	$	286,846	$	215,130	$	368,078	$	111,492	$	14,896
Total assets (1)	3,182,640		1,143,947		420,196		616,156		862,753		139,588
Total deposits	2,028,852		1,067,120		374,365		524,502		42,784		20,081
Period end
Total loans and leases	$	1,030,766	$	294,570	$	221,705	$	385,376	$	118,290	$	10,825
Total assets (1)	3,111,606		1,154,366		393,948		591,490		835,129		136,673
Total deposits	1,984,349		1,077,215		347,991		499,714		40,055		19,374

	Six Months Ended June 30, 2021
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	20,651	$	11,893	$	2,685	$	3,964	$	1,981	$	128
Noninterest income
Fees and commissions:
Card income	3,021		2,501		40		330		150		—
Service charges	3,666		1,682		36		1,747		197		4
Investment and brokerage services	8,186		155		6,928		81		1,033		(11)
Investment banking fees	4,368		—		223		2,345		1,940		(140)
Total fees and commissions	19,241		4,338		7,227		4,503		3,320		(147)
Market making and similar activities	5,355		—		22		59		5,434		(160)
Other income (loss)	(739)		24		102		1,196		183		(2,244)
Total noninterest income (loss)	23,857		4,362		7,351		5,758		8,937		(2,551)
Total revenue, net of interest expense	44,508		16,255		10,036		9,722		10,918		(2,423)
Provision for credit losses	(3,481)		(1,314)		(127)		(1,957)		17		(100)
Noninterest expense	30,560		9,990		7,682		5,380		6,898		610
Income (loss) before income taxes	17,429		7,579		2,481		6,299		4,003		(2,933)
Income tax expense (benefit)	155		1,857		608		1,701		1,041		(5,052)
Net income (loss)	$	17,274	$	5,722	$	1,873	$	4,598	$	2,962	$	2,119

Average
Total loans and leases	$	907,812	$	286,304	$	191,257	$	327,595	$	82,649	$	20,007
Total assets (1)	2,947,542		1,027,294		376,476		585,875		760,616		197,281
Total deposits	1,847,520		951,757		329,948		496,880		54,723		14,212
Period end
Total loans and leases	$	918,928	$	282,900	$	198,361	$	323,256	$	96,105	$	18,306
Total assets (1)	3,029,894		1,063,650		378,220		607,969		773,714		206,341
Total deposits	1,909,142		987,655		330,624		520,026		57,297		13,540

(1)Total assets include asset allocations to match liabilities (i.e., deposits).


Current-period information is preliminary and based on company data available at the time of the presentation.			13


Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Net interest income	$	13,767		$	11,893		$	7,087		$	6,680		$	6,543		$	6,493		$	5,973
Noninterest income:
Card income	2,505			2,501			1,320			1,185			1,354			1,317			1,312
Service charges	1,523			1,682			679			844			921			935			851

All other income	154			179			50			104			94			93			50
Total noninterest income	4,182			4,362			2,049			2,133			2,369			2,345			2,213
Total revenue, net of interest expense	17,949			16,255			9,136			8,813			8,912			8,838			8,186

Provision for credit losses	298			(1,314)			350			(52)			32			247			(697)

Noninterest expense	9,880			9,990			4,959			4,921			4,742			4,558			4,859
Income before income taxes	7,771			7,579			3,827			3,944			4,138			4,033			4,024
Income tax expense	1,904			1,857			938			966			1,014			988			986
Net income	$	5,867		$	5,722		$	2,889		$	2,978		$	3,124		$	3,045		$	3,038

Net interest yield	2.52		%	2.44		%	2.55		%	2.48		%	2.44		%	2.49		%	2.37		%
Return on average allocated capital (1)	30			30			29			30			32			31			32
Efficiency ratio	55.04			61.46			54.28			55.84			53.22			51.56			59.36

Balance Sheet
Average
Total loans and leases	$	286,846		$	286,304		$	289,595		$	284,068		$	282,332		$	281,380		$	281,767
Total earning assets (2)	1,103,707			984,891			1,114,552			1,092,742			1,061,742			1,034,471			1,012,335
Total assets (2)	1,143,947			1,027,294			1,154,773			1,133,001			1,102,444			1,076,236			1,054,516
Total deposits	1,067,120			951,757			1,078,020			1,056,100			1,026,810			1,000,765			979,072
Allocated capital (1)	40,000			38,500			40,000			40,000			38,500			38,500			38,500

Period end
Total loans and leases	$	294,570		$	282,900		$	294,570		$	286,322		$	286,511		$	280,803		$	282,900
Total earning assets (2)	1,114,524			1,022,092			1,114,524			1,125,963			1,090,331			1,050,331			1,022,092
Total assets (2)	1,154,366			1,063,650			1,154,366			1,166,443			1,131,142			1,091,431			1,063,650
Total deposits	1,077,215			987,655			1,077,215			1,088,940			1,054,995			1,015,276			987,655

(1) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

(2) Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.


Current-period information is preliminary and based on company data available at the time of the presentation.			14


Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Average deposit balances
Checking	$	599,915		$	532,815		$	606,331		$	593,428		$	577,703		$	561,629		$	550,009
Savings	72,856			68,418			73,295			72,413			70,719			70,799			70,945
MMS	358,846			312,203			362,798			354,850			342,812			331,924			320,594
CDs and IRAs	30,238			34,603			29,796			30,685			31,584			32,578			33,728
Other	5,265			3,718			5,800			4,724			3,992			3,835			3,796
Total average deposit balances	$	1,067,120		$	951,757		$	1,078,020		$	1,056,100		$	1,026,810		$	1,000,765		$	979,072

Deposit spreads (excludes noninterest costs)
Checking	1.92		%	1.98		%	1.93		%	1.91		%	1.92		%	1.95		%	1.97		%
Savings	2.19			2.27			2.19			2.19			2.21			2.23			2.26
MMS	1.26			1.31			1.29			1.23			1.24			1.26			1.29
CDs and IRAs	0.72			0.45			0.98			0.46			0.32			0.34			0.41
Other	0.76			0.29			1.04			0.41			0.22			0.24			0.27
Total deposit spreads	1.68			1.72			1.70			1.65			1.66			1.68			1.71

Consumer investment assets	$	315,243		$	345,809		$	315,243		$	357,593		$	368,831		$	353,280		$	345,809

Active digital banking users (in thousands) (1)	42,690			40,512			42,690			42,269			41,365			40,911			40,512
Active mobile banking users (in thousands) (2)	34,167			31,796			34,167			33,589			32,980			32,455			31,796
Financial centers	3,984			4,296			3,984			4,056			4,173			4,215			4,296
ATMs	15,730			16,795			15,730			15,959			16,209			16,513			16,795

Total credit card (3)
Loans
Average credit card outstandings	$	79,724		$	73,780		$	81,024		$	78,409		$	78,358		$	75,569		$	73,399
Ending credit card outstandings	84,010			75,599			84,010			79,356			81,438			76,869			75,599
Credit quality
Net charge-offs	$	620		$	1,122		$	323		$	297		$	280		$	321		$	488
	1.57		%	3.07		%	1.60		%	1.53		%	1.42		%	1.69		%	2.67		%
30+ delinquency	$	1,008		$	976		$	1,008		$	1,003		$	997		$	934		$	976
	1.20		%	1.29		%	1.20		%	1.26		%	1.22		%	1.21		%	1.29		%
90+ delinquency	$	493		$	533		$	493		$	492		$	487		$	450		$	533
	0.59		%	0.71		%	0.59		%	0.62		%	0.60		%	0.58		%	0.71		%
Other total credit card indicators (3)
Gross interest yield	9.83		%	10.31		%	9.76		%	9.90		%	9.96		%	10.10		%	10.10		%
Risk-adjusted margin	10.17			9.53			9.95			10.40			10.85			10.70			9.76
New accounts (in thousands)	2,045			1,605			1,068			977			940			1,049			931
Purchase volumes	$	172,724		$	142,975		$	91,810		$	80,914		$	87,671		$	80,925		$	78,384

Debit card data
Purchase volumes	$	246,291		$	229,812		$	128,707		$	117,584		$	124,278		$	119,680		$	121,905

Loan production (4)
Consumer Banking:
First mortgage	$	14,667		$	20,684		$	6,551		$	8,116		$	12,782		$	12,510		$	11,502
Home equity	3,876			1,317			2,151			1,725			1,417			1,262			907
Total (5):
First mortgage	$	30,824		$	35,499		$	14,471		$	16,353		$	22,961		$	21,232		$	20,266
Home equity	4,575			1,669			2,535			2,040			1,703			1,523			1,166

(1) Represents mobile and/or online active users over the past 90 days.

(2) Represents mobile active users over the past 90 days.

(3) In addition to the credit card portfolio in Consumer Banking, the remaining credit card portfolio is in GWIM.

(4) Loan production amounts represent the unpaid principal balance of loans and, in the case of home equity, the principal amount of the total line of credit.

(5) In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.


Current-period information is preliminary and based on company data available at the time of the presentation.			15


Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Second Quarter 2022									First Quarter 2022
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	7,087		$	4,477		$	2,610		$	6,680		$	4,052		$	2,628
Noninterest income:
Card income	1,320			(9)			1,329			1,185			(8)			1,193
Service charges	679			678			1			844			843			1
All other income	50			55			(5)			104			68			36
Total noninterest income	2,049			724			1,325			2,133			903			1,230
Total revenue, net of interest expense	9,136			5,201			3,935			8,813			4,955			3,858

Provision for credit losses	350			142			208			(52)			73			(125)

Noninterest expense	4,959			3,055			1,904			4,921			3,008			1,913
Income before income taxes	3,827			2,004			1,823			3,944			1,874			2,070
Income tax expense	938			491			447			966			459			507
Net income	$	2,889		$	1,513		$	1,376		$	2,978		$	1,415		$	1,563

Net interest yield	2.55		%	1.67		%	3.64		%	2.48		%	1.56		%	3.79		%
Return on average allocated capital (1)	29			47			20			30			44			23
Efficiency ratio	54.28			58.74			48.38			55.84			60.71			49.58

Balance Sheet
Average
Total loans and leases	$	289,595		$	4,147		$	285,448		$	284,068		$	4,215		$	279,853
Total earning assets (2)	1,114,552			1,072,773			287,512			1,092,742			1,050,490			281,255
Total assets (2)	1,154,773			1,106,098			294,407			1,133,001			1,084,343			287,660
Total deposits	1,078,020			1,072,166			5,854			1,056,100			1,050,247			5,853
Allocated capital (1)	40,000			13,000			27,000			40,000			13,000			27,000

Period end
Total loans and leases	$	294,570		$	4,123		$	290,447		$	286,322		$	4,165		$	282,157
Total earning assets (2)	1,114,524			1,072,291			292,657			1,125,963			1,083,664			284,069
Total assets (2)	1,154,366			1,104,991			299,799			1,166,443			1,117,241			290,972
Total deposits	1,077,215			1,071,089			6,126			1,088,940			1,082,885			6,055

										Second Quarter 2021
										Total Consumer Banking			Deposits			Consumer Lending
Net interest income										$	5,973		$	3,480		$	2,493
Noninterest income:
Card income										1,312			(7)			1,319
Service charges										851			850			1
All other income										50			22			28
Total noninterest income										2,213			865			1,348
Total revenue, net of interest expense										8,186			4,345			3,841

Provision for credit losses										(697)			47			(744)

Noninterest expense										4,859			2,855			2,004
Income before income taxes										4,024			1,443			2,581
Income tax expense										986			354			632
Net income										$	3,038		$	1,089		$	1,949

Net interest yield										2.37		%	1.44		%	3.60		%
Return on average allocated capital (1)										32			36			30
Efficiency ratio										59.36			65.73			52.16

Balance Sheet
Average
Total loans and leases										$	281,767		$	4,447		$	277,320
Total earning assets (2)										1,012,335			968,492			277,742
Total assets (2)										1,054,516			1,005,237			283,178
Total deposits										979,072			972,016			7,056
Allocated capital (1)										38,500			12,000			26,500

Period end
Total loans and leases										$	282,900		$	4,410		$	278,490
Total earning assets (2)										1,022,092			978,402			278,850
Total assets (2)										1,063,650			1,013,887			284,923
Total deposits										987,655			980,486			7,169

(2) For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments’ and businesses’ liabilities and allocated shareholders’ equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.


Current-period information is preliminary and based on company data available at the time of the presentation.			16


Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Six Months Ended June 30
	2022									2021
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	13,767		$	8,529		$	5,238		$	11,893		$	6,758		$	5,135
Noninterest income:
Card income	2,505			(17)			2,522			2,501			(12)			2,513
Service charges	1,523			1,521			2			1,682			1,681			1
All other income	154			123			31			179			94			85
Total noninterest income	4,182			1,627			2,555			4,362			1,763			2,599
Total revenue, net of interest expense	17,949			10,156			7,793			16,255			8,521			7,734

Provision for credit losses	298			215			83			(1,314)			121			(1,435)

Noninterest expense	9,880			6,063			3,817			9,990			6,065			3,925
Income before income taxes	7,771			3,878			3,893			7,579			2,335			5,244
Income tax expense	1,904			950			954			1,857			572			1,285
Net income	$	5,867		$	2,928		$	2,939		$	5,722		$	1,763		$	3,959

Net interest yield	2.52		%	1.62		%	3.71		%	2.44		%	1.45		%	3.67		%
Return on average allocated capital (1)	30			45			22			30			30			30
Efficiency ratio	55.04			59.70			48.97			61.46			71.19			50.74

Balance Sheet
Average
Total loans and leases	$	286,846		$	4,180		$	282,666		$	286,304		$	4,527		$	281,777
Total earning assets (2)	1,103,707			1,061,693			284,400			984,891			940,469			282,206
Total assets (2)	1,143,947			1,095,281			291,052			1,027,294			978,170			286,908
Total deposits	1,067,120			1,061,267			5,853			951,757			944,819			6,938
Allocated capital (1)	40,000			13,000			27,000			38,500			12,000			26,500

Period end
Total loans and leases	$	294,570		$	4,123		$	290,447		$	282,900		$	4,410		$	278,490
Total earning assets (2)	1,114,524			1,072,291			292,657			1,022,092			978,402			278,850
Total assets (2)	1,154,366			1,104,991			299,799			1,063,650			1,013,887			284,923
Total deposits	1,077,215			1,071,089			6,126			987,655			980,486			7,169

For footnotes, see page 16.


Current-period information is preliminary and based on company data available at the time of the presentation.			17


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Net interest income	$	3,470		$	2,685		$	1,802		$	1,668		$	1,526		$	1,452		$	1,355
Noninterest income:
Investment and brokerage services	7,140			6,928			3,486			3,654			3,703			3,682			3,536
All other income	299			423			145			154			173			176			174
Total noninterest income	7,439			7,351			3,631			3,808			3,876			3,858			3,710
Total revenue, net of interest expense	10,909			10,036			5,433			5,476			5,402			5,310			5,065

Provision for credit losses	(8)			(127)			33			(41)			(56)			(58)			(62)

Noninterest expense	7,890			7,682			3,875			4,015			3,834			3,744			3,813
Income before income taxes	3,027			2,481			1,525			1,502			1,624			1,624			1,314
Income tax expense	742			608			374			368			398			398			322
Net income	$	2,285		$	1,873		$	1,151		$	1,134		$	1,226		$	1,226		$	992

Net interest yield	1.72		%	1.49		%	1.82		%	1.62		%	1.53		%	1.54		%	1.48		%
Return on average allocated capital (1)	26			23			26			26			30			30			24

Efficiency ratio	72.33			76.54			71.34			73.31			70.95			70.51			75.29

Balance Sheet
Average
Total loans and leases	$	215,130		$	191,257		$	219,277		$	210,937		$	205,236		$	199,664		$	193,988
Total earning assets (2)	407,369			363,960			396,611			418,248			395,144			373,691			367,778
Total assets (2)	420,196			376,476			409,472			431,040			408,033			386,346			380,315
Total deposits	374,365			329,948			363,943			384,902			360,912			339,357			333,487
Allocated capital (1)	17,500			16,500			17,500			17,500			16,500			16,500			16,500


Period end
Total loans and leases	$	221,705		$	198,361		$	221,705		$	214,273		$	208,971		$	202,268		$	198,361
Total earning assets (2)	380,771			365,496			380,771			419,903			425,112			380,857			365,496
Total assets (2)	393,948			378,220			393,948			433,122			438,275			393,708			378,220
Total deposits	347,991			330,624			347,991			385,288			390,143			345,590			330,624

(1)Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

(2)Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.


Current-period information is preliminary and based on company data available at the time of the presentation.			18


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021
Revenue by Business
Merrill Wealth Management	$	9,125	$	8,445	$	4,536	$	4,589	$	4,532	$	4,471	$	4,260
Bank of America Private Bank	1,784		1,591		897		887		870		839		805

Total revenue, net of interest expense	$	10,909	$	10,036	$	5,433	$	5,476	$	5,402	$	5,310	$	5,065

Client Balances by Business, at period end
Merrill Wealth Management	$	2,819,998	$	3,073,252	$	2,819,998	$	3,116,052	$	3,214,881	$	3,108,358	$	3,073,252
Bank of America Private Bank	547,116		579,562		547,116		598,100		625,453		584,475		579,562

Total client balances	$	3,367,114	$	3,652,814	$	3,367,114	$	3,714,152	$	3,840,334	$	3,692,833	$	3,652,814

Client Balances by Type, at period end


Assets under management (1)	$	1,411,344	$	1,549,069	$	1,411,344	$	1,571,605	$	1,638,782	$	1,578,630	$	1,549,069
Brokerage and other assets	1,437,562		1,619,246		1,437,562		1,592,802		1,655,021		1,612,472		1,619,246

Deposits	347,991		330,624		347,991		385,288		390,143		345,590		330,624
Loans and leases (2)	224,847		201,154		224,847		217,461		212,251		205,055		201,154
Less: Managed deposits in assets under management	(54,630)		(47,279)		(54,630)		(53,004)		(55,863)		(48,914)		(47,279)
Total client balances	$	3,367,114	$	3,652,814	$	3,367,114	$	3,714,152	$	3,840,334	$	3,692,833	$	3,652,814

Assets Under Management Rollforward
Assets under management, beginning balance	$	1,638,782	$	1,408,465	$	1,571,605	$	1,638,782	$	1,578,630	$	1,549,069	$	1,467,487
Net client flows	16,570		29,922		1,033		15,537		21,552		14,776		11,714

Market valuation/other	(244,008)		110,682		(161,294)		(82,714)		38,600		14,785		69,868
Total assets under management, ending balance	$	1,411,344	$	1,549,069	$	1,411,344	$	1,571,605	$	1,638,782	$	1,578,630	$	1,549,069

Advisors, at period end

Total wealth advisors (3)	18,449		19,385		18,449		18,571		18,846		18,855		19,385

(1)Defined as managed assets under advisory and/or discretion of GWIM.

(2)Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.

(3)Includes advisors across all wealth management businesses in GWIM and Consumer Banking.


Current-period information is preliminary and based on company data available at the time of the presentation.			19


Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Net interest income	$	4,978		$	3,964		$	2,634		$	2,344		$	2,362		$	2,185		$	1,984
Noninterest income:
Service charges	1,819			1,747			933			886			887			889			900
Investment banking fees	1,572			2,345			692			880			1,465			1,297			1,173
All other income	1,831			1,666			747			1,084			1,193			874			1,033
Total noninterest income	5,222			5,758			2,372			2,850			3,545			3,060			3,106
Total revenue, net of interest expense	10,200			9,722			5,006			5,194			5,907			5,245			5,090

Provision for credit losses	322			(1,957)			157			165			(463)			(781)			(831)

Noninterest expense	5,482			5,380			2,799			2,683			2,717			2,534			2,599
Income before income taxes	4,396			6,299			2,050			2,346			3,653			3,492			3,322
Income tax expense	1,165			1,701			543			622			986			943			897
Net income	$	3,231		$	4,598		$	1,507		$	1,724		$	2,667		$	2,549		$	2,425

Net interest yield	1.82		%	1.52		%	1.97		%	1.68		%	1.59		%	1.55		%	1.49		%
Return on average allocated capital (1)	15			22			14			16			25			24			23
Efficiency ratio	53.74			55.34			55.90			51.65			45.99			48.31			51.07

Balance Sheet
Average
Total loans and leases	$	368,078		$	327,595		$	377,248		$	358,807		$	338,627		$	324,736		$	325,110
Total earning assets (2)	551,894			525,332			537,660			566,277			587,472			560,181			534,562
Total assets (2)	616,156			585,875			601,945			630,517			650,940			621,699			595,498
Total deposits	524,502			496,880			509,261			539,912			562,390			534,166			506,618
Allocated capital (1)	44,500			42,500			44,500			44,500			42,500			42,500			42,500

Period end
Total loans and leases	$	385,376		$	323,256		$	385,376		$	367,423		$	352,933		$	328,893		$	323,256
Total earning assets (2)	526,879			547,278			526,879			558,639			574,583			561,239			547,278
Total assets (2)	591,490			607,969			591,490			623,168			638,131			623,640			607,969
Total deposits	499,714			520,026			499,714			533,820			551,752			536,476			520,026

(1)Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

(2)Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.


Current-period information is preliminary and based on company data available at the time of the presentation.			20


Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Investment Banking fees (1)
Advisory (2)	$	800		$	733		$	361		$	439		$	798		$	608		$	376
Debt issuance	642			905			283			359			430			401			482
Equity issuance	130			707			48			82			237			288			315
Total Investment Banking fees (3)	$	1,572		$	2,345		$	692		$	880		$	1,465		$	1,297		$	1,173

Business Lending
Corporate	$	2,006		$	1,643		$	946		$	1,060		$	1,195		$	885		$	989
Commercial	2,017			1,765			1,024			993			987			923			867
Business Banking	120			111			62			58			59			54			56
Total Business Lending revenue	$	4,143		$	3,519		$	2,032		$	2,111		$	2,241		$	1,862		$	1,912

Global Transaction Services (4)
Corporate	$	2,087		$	1,474		$	1,138		$	949		$	911		$	850		$	763
Commercial	1,869			1,577			973			896			909			855			805
Business Banking	513			452			270			243			249			240			230
Total Global Transaction Services revenue	$	4,469		$	3,503		$	2,381		$	2,088		$	2,069		$	1,945		$	1,798

Average deposit balances
Interest-bearing	$	149,705		$	163,785		$	142,366		$	157,126		$	164,522		$	165,669		$	162,947
Noninterest-bearing	374,797			333,095			366,895			382,786			397,868			368,497			343,671
Total average deposits	$	524,502		$	496,880		$	509,261		$	539,912		$	562,390		$	534,166		$	506,618

Loan spread	1.51		%	1.59		%	1.49		%	1.53		%	1.58		%	1.60		%	1.57		%

Provision for credit losses	$	322		$	(1,957)		$	157		$	165		$	(463)		$	(781)		$	(831)

Credit quality (5, 6)
Reservable criticized utilized exposure	$	15,999		$	25,158		$	15,999		$	18,304		$	19,873		$	20,894		$	25,158
	3.92		%	7.33		%	3.92		%	4.72		%	5.34		%	5.99		%	7.33		%

Nonperforming loans, leases and foreclosed properties	$	1,126		$	1,651		$	1,126		$	1,329		$	1,351		$	1,504		$	1,651
	0.29		%	0.52		%	0.29		%	0.37		%	0.39		%	0.46		%	0.52		%

Average loans and leases by product
U.S. commercial	$	218,733		$	190,661		$	225,820		$	211,568		$	196,168		$	187,047		$	188,716
Non-U.S. commercial	83,452			70,620			86,092			80,783			75,611			71,859			70,666
Commercial real estate	51,185			49,410			50,973			51,400			51,570			49,868			49,139
Commercial lease financing	14,706			16,902			14,362			15,055			15,261			15,961			16,588
Other	2			2			1			1			17			1			1
Total average loans and leases	$	368,078		$	327,595		$	377,248		$	358,807		$	338,627		$	324,736		$	325,110

Total Corporation Investment Banking fees
Advisory (2)	$	865		$	807		$	392		$	473		$	850		$	654		$	407
Debt issuance	1,493			2,098			662			831			984			933			1,110
Equity issuance	364			1,602			139			225			545			637			702
Total investment banking fees including self-led deals	2,722			4,507			1,193			1,529			2,379			2,224			2,219
Self-led deals	(137)			(139)			(65)			(72)			(28)			(56)			(97)
Total Investment Banking fees	$	2,585		$	4,368		$	1,128		$	1,457		$	2,351		$	2,168		$	2,122

(1)Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.

(2)Advisory includes fees on debt and equity advisory and mergers and acquisitions.

(3)Investment banking fees represent only the fee component in Global Banking and do not include certain other items shared with the Investment Banking Group under internal revenue sharing agreements.

(4)Prior periods have been revised to conform to current-period presentation.

(5)Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial reservable utilized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers’ acceptances.

(6)Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.


Current-period information is preliminary and based on company data available at the time of the presentation.			21


Bank of America Corporation and Subsidiaries
Global Markets Segment Results (1)
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2022			First Quarter 2022			Fourth Quarter 2021			Third Quarter 2021			Second Quarter 2021
	2022			2021
Net interest income	$	1,974		$	1,981		$	981		$	993		$	1,031		$	1,000		$	990
Noninterest income:
Investment and brokerage services	1,063			1,033			518			545			474			471			474
Investment banking fees	1,043			1,940			461			582			832			844			959
Market making and similar activities	5,847			5,434			2,657			3,190			1,312			2,014			1,964
All other income	(133)			530			(115)			(18)			169			190			333
Total noninterest income	7,820			8,937			3,521			4,299			2,787			3,519			3,730
Total revenue, net of interest expense (2)	9,794			10,918			4,502			5,292			3,818			4,519			4,720

Provision for credit losses	13			17			8			5			32			16			22

Noninterest expense	6,226			6,898			3,109			3,117			2,882			3,252			3,471
Income before income taxes	3,555			4,003			1,385			2,170			904			1,251			1,227
Income tax expense	942			1,041			367			575			235			325			319
Net income	$	2,613		$	2,962		$	1,018		$	1,595		$	669		$	926		$	908

Return on average allocated capital (3)	12		%	16		%	10		%	15		%	7		%	10		%	10		%

Efficiency ratio	63.57			63.19			69.07			58.90			75.49			71.94			73.55

Balance Sheet
Average
Total trading-related assets	$	601,172		$	534,496		$	606,135		$	596,154		$	564,282		$	563,715		$	566,842
Total loans and leases	111,492			82,649			114,375			108,576			102,627			97,148			87,826
Total earning assets	604,846			513,261			598,832			610,926			580,794			557,333			531,000
Total assets	862,753			760,616			866,742			858,719			816,994			804,938			797,558
Total deposits	42,784			54,723			41,192			44,393			43,331			54,650			55,584
Allocated capital (3)	42,500			38,000			42,500			42,500			38,000			38,000			38,000


Period end
Total trading-related assets	$	577,309		$	542,614		$	577,309		$	616,811		$	491,160		$	536,125		$	542,614
Total loans and leases	118,290			96,105			118,290			110,037			114,846			98,892			96,105
Total earning assets	571,921			527,983			571,921			609,290			561,135			526,585			527,983
Total assets	835,129			773,714			835,129			883,304			747,794			776,929			773,714
Total deposits	40,055			57,297			40,055			43,371			46,374			54,941			57,297

Trading-related assets (average)
Trading account securities	$	298,220		$	285,081		$	295,190		$	301,285		$	291,518		$	304,133		$	304,760
Reverse repurchases	134,999			108,201			131,456			138,581			121,878			117,486			116,424
Securities borrowed	116,847			95,231			119,200			114,468			109,455			101,086			101,144
Derivative assets	51,106			45,983			60,289			41,820			41,431			41,010			44,514
Total trading-related assets	$	601,172		$	534,496		$	606,135		$	596,154		$	564,282		$	563,715		$	566,842

(1)Effective October 1, 2021, a business activity previously included in the Global Markets segment is being reported as a liquidating business in All Other, consistent with a realignment in performance reporting to senior management. The activity was not material to Global Markets’ results of operations and historical results for the third and second quarters of 2021 were not restated.

(2)Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 23.

(3)Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


Current-period information is preliminary and based on company data available at the time of the presentation.			22


Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021
Sales and trading revenue (1)
Fixed-income, currencies and commodities	$	5,208	$	5,179	$	2,500	$	2,708	$	1,573	$	2,009	$	1,937
Equities	3,664		3,460		1,653		2,011		1,363		1,605		1,624
Total sales and trading revenue	$	8,872	$	8,639	$	4,153	$	4,719	$	2,936	$	3,614	$	3,561

Sales and trading revenue, excluding net debit valuation adjustment (2,3)
Fixed-income, currencies and commodities	$	4,988	$	5,216	$	2,340	$	2,648	$	1,569	$	2,025	$	1,965
Equities	3,657		3,459		1,655		2,002		1,365		1,609		1,630
Total sales and trading revenue, excluding net debit valuation adjustment	$	8,645	$	8,675	$	3,995	$	4,650	$	2,934	$	3,634	$	3,595

Sales and trading revenue breakdown
Net interest income	$	1,762	$	1,813	$	851	$	911	$	954	$	920	$	914
Commissions	1,035		1,010		504		531		464		459		462
Trading	5,846		5,433		2,656		3,190		1,311		2,014		1,963
Other	229		383		142		87		207		221		222
Total sales and trading revenue	$	8,872	$	8,639	$	4,153	$	4,719	$	2,936	$	3,614	$	3,561

(1) Includes Global Banking sales and trading revenue of $498 million and $274 million for the six months ended June 30, 2022 and 2021, and $319 million and $179 million for the second and first quarters of 2022, and $98 million, $138 million and $170 million for the fourth, third and second quarters of 2021, respectively.

(2) For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.

(3)Net DVA gains (losses) were $227 million and $(36) million for the six months ended June 30, 2022 and 2021, and $158 million, $69 million, $2 million, $(20) million and $(34) million for the second and first quarters of 2022 and the fourth, third and second quarters of 2021, respectively. FICC net DVA gains (losses) were $220 million and $(37) million for the six months ended June 30, 2022 and 2021, and $160 million, $60 million, $4 million, $(16) million and $(28) million for the second and first quarters of 2022 and the fourth, third and second quarters of 2021, respectively. Equities net DVA gains (losses) were $7 million and $1 million for the six months ended June 30, 2022 and 2021, and $(2) million, $9 million, $(2) million, $(4) million and $(6) million for the second and first quarters of 2022 and the fourth, third and second quarters of 2021, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			23


Bank of America Corporation and Subsidiaries
All Other Results (1,2)
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021
Net interest income	$	36	$	128	$	43	$	(7)	$	53	$	65	$	41





Noninterest income (loss)	(2,763)		(2,551)		(1,329)		(1,434)		(1,927)		(1,110)		(1,526)
Total revenue, net of interest expense	(2,727)		(2,423)		(1,286)		(1,441)		(1,874)		(1,045)		(1,485)

Provision for credit losses	(72)		(100)		(25)		(47)		(34)		(48)		(53)



Noninterest expense	1,114		610		531		583		556		352		303
Loss before income taxes	(3,769)		(2,933)		(1,792)		(1,977)		(2,396)		(1,349)		(1,735)
Income tax expense (benefit)	(3,087)		(5,052)		(1,474)		(1,613)		(1,723)		(1,294)		(3,596)
Net income (loss)	$	(682)	$	2,119	$	(318)	$	(364)	$	(673)	$	(55)	$	1,861

Balance Sheet
Average
Total loans and leases	$	14,896	$	20,007	$	14,391	$	15,405	$	16,240	$	17,581	$	19,209
Total assets (3)	139,588		197,281		124,923		154,425		185,707		187,233		187,226
Total deposits	20,081		14,212		19,663		20,504		23,780		13,767		14,073

Period end
Total loans and leases	$	10,825	$	18,306	$	10,825	$	15,090	$	15,863	$	16,880	$	18,306

Total assets (4)	136,673		206,341		136,673		132,186		214,153		199,738		206,341
Total deposits	19,374		13,540		19,374		20,990		21,182		12,521		13,540

(2)All Other primarily consists of asset and liability management (ALM) activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass interest rate and foreign currency risk management activities for which substantially all of the results are allocated to our business segments.

(3)Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $1.2 trillion and $1.0 trillion for the six months ended June 30, 2022 and 2021, $1.1 trillion and $1.2 trillion for the second and first quarters of 2022, and $1.2 trillion, $1.1 trillion and $1.1 trillion for the fourth, third and second quarters of 2021, respectively.

(4)Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $1.1 trillion, $1.2 trillion, $1.2 trillion, $1.2 trillion and $1.1 trillion at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			24


Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	June 30 2022		March 31 2022		June 30 2021
Consumer
Residential mortgage	$	227,970	$	226,030	$	214,324
Home equity	27,120		26,936		30,469
Credit card	84,010		79,356		75,599
Direct/Indirect consumer (1)	108,826		105,754		96,903
Other consumer (2)	195		205		172
Total consumer loans excluding loans accounted for under the fair value option	448,121		438,281		417,467
Consumer loans accounted for under the fair value option (3)	377		568		654
Total consumer	448,498		438,849		418,121

Commercial
U.S. commercial	355,731		330,973		291,120
Non-U.S. commercial	125,796		122,267		98,150
Commercial real estate (4)	64,253		62,533		59,606
Commercial lease financing	13,612		14,008		15,768
	559,392		529,781		464,644
U.S. small business commercial (5)	17,757		17,972		29,867
Total commercial loans excluding loans accounted for under the fair value option	577,149		547,753		494,511
Commercial loans accounted for under the fair value option (3)	5,119		6,543		6,296
Total commercial	582,268		554,296		500,807

Total loans and leases	$	1,030,766	$	993,145	$	918,928

(1)Includes primarily auto and specialty lending loans and leases of $50.8 billion, $49.7 billion and $46.4 billion, U.S. securities-based lending loans of $54.0 billion, $51.9 billion and $46.4 billion and non-U.S. consumer loans of $3.0 billion, $3.2 billion and $3.0 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(2)Substantially all of other consumer is consumer overdrafts.

(3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $79 million, $248 million and $257 million and home equity loans of $298 million, $320 million and $397 million at June 30, 2022, March 31, 2022 and June 30, 2021, respectively. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.9 billion, $4.0 billion and $4.4 billion and non-U.S. commercial loans of $2.2 billion, $2.6 billion and $1.9 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(4)Includes U.S. commercial real estate loans of $60.1 billion, $58.3 billion and $55.8 billion and non-U.S. commercial real estate loans of $4.1 billion, $4.3 billion and $3.8 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(5)Includes card-related products and Paycheck Protection Program (PPP) loans.


Current-period information is preliminary and based on company data available at the time of the presentation.			25


Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2022
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	228,529	$	117,355	$	99,615	$	1	$	—	$	11,558
Home equity	27,415		21,835		2,433		—		231		2,916
Credit card	81,024		78,174		2,850		—		—		—
Direct/Indirect and other consumer	108,639		50,498		58,138		—		—		3
Total consumer	445,607		267,862		163,036		1		231		14,477

Commercial
U.S. commercial	363,978		21,722		50,334		225,820		65,897		205
Non-U.S. commercial	128,237		—		1,181		86,092		40,888		76
Commercial real estate	63,072		11		4,726		50,973		7,359		3
Commercial lease financing	13,992		—		—		14,362		—		(370)
Total commercial	569,279		21,733		56,241		377,247		114,144		(86)
Total loans and leases	$	1,014,886	$	289,595	$	219,277	$	377,248	$	114,375	$	14,391

	First Quarter 2022
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	223,979	$	115,388	$	96,221	$	1	$	—	$	12,369
Home equity	27,784		21,963		2,400		—		241		3,180
Credit card	78,409		75,730		2,679		—		—		—
Direct/Indirect and other consumer	104,632		49,292		55,338		—		—		2
Total consumer	434,804		262,373		156,638		1		241		15,551

Commercial
U.S. commercial	346,510		21,683		48,496		211,568		64,566		197
Non-U.S. commercial	118,767		—		1,237		80,783		36,684		63
Commercial real estate	63,065		12		4,566		51,400		7,085		2
Commercial lease financing	14,647		—		—		15,055		—		(408)
Total commercial	542,989		21,695		54,299		358,806		108,335		(146)
Total loans and leases	$	977,793	$	284,068	$	210,937	$	358,807	$	108,576	$	15,405

	Second Quarter 2021
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	214,096	$	109,652	$	89,129	$	1	$	—	$	15,314
Home equity	31,621		24,839		2,670		—		275		3,837
Credit card	73,399		70,900		2,499		—		—		—
Direct/Indirect and other consumer	94,321		46,233		48,085		—		—		3
Total consumer	413,437		251,624		142,383		1		275		19,154

Commercial
U.S. commercial	322,633		30,131		46,253		188,716		57,188		345
Non-U.S. commercial	96,343		—		1,078		70,666		24,490		109
Commercial real estate	59,276		12		4,274		49,139		5,847		4
Commercial lease financing	16,211		—		—		16,588		26		(403)
Total commercial	494,463		30,143		51,605		325,109		87,551		55
Total loans and leases	$	907,900	$	281,767	$	193,988	$	325,110	$	87,826	$	19,209


Current-period information is preliminary and based on company data available at the time of the presentation.			26


Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4, 6)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	June 30 2022		March 31 2022		June 30 2021		June 30 2022		March 31 2022		June 30 2021
Asset managers & funds	$	112,812	$	102,558	$	78,769	$	167,163	$	158,973	$	118,559
Real estate (5)	68,897		67,211		66,707		97,617		93,888		92,913
Capital goods	46,923		44,545		38,906		89,785		85,942		84,180
Finance companies	49,740		50,559		52,314		76,051		76,101		78,342
Materials	27,295		27,570		23,641		59,699		60,017		50,630
Healthcare equipment and services	32,768		33,164		32,112		57,901		58,264		62,851
Retailing	27,398		26,678		23,388		52,645		51,557		48,318
Government & public education	37,141		35,212		38,295		50,189		49,213		50,468
Consumer services	27,703		27,045		28,438		48,453		47,344		48,055
Food, beverage and tobacco	23,654		23,332		22,569		48,337		46,566		46,276
Individuals and trusts	30,501		29,340		28,785		45,733		38,961		38,329
Commercial services and supplies	22,852		20,818		20,027		43,520		42,809		39,836
Energy	17,726		16,770		13,223		39,613		36,001		31,830
Utilities	19,781		18,908		13,044		39,448		38,178		31,777
Transportation	21,583		21,268		21,842		35,569		32,034		32,210
Software and services	13,472		12,075		8,213		30,761		30,195		21,991
Global commercial banks	29,674		25,092		20,143		30,667		26,234		21,791
Technology hardware and equipment	11,411		10,551		9,446		29,697		26,479		25,208
Media	12,661		11,693		12,318		27,270		27,525		29,157
Consumer durables and apparel	11,275		10,989		8,587		22,841		22,089		19,731
Vehicle dealers	11,849		11,438		10,821		20,027		20,381		14,852
Insurance	10,238		6,784		5,123		19,496		18,120		13,759
Pharmaceuticals and biotechnology	7,088		6,175		4,934		19,072		19,093		16,099
Automobiles and components	8,395		9,195		9,340		17,256		17,782		17,022
Telecommunication services	7,495		10,500		8,983		15,986		18,453		18,456
Financial markets infrastructure (clearinghouses)	9,274		4,359		3,666		14,252		6,966		5,779
Food and staples retailing	7,745		7,304		5,354		12,441		12,772		10,716
Religious and social organizations	2,883		2,906		4,042		5,130		5,345		5,828

Total commercial credit exposure by industry	$	710,234	$	674,039	$	613,030	$	1,216,619	$	1,167,282	$	1,074,963

(1)Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by cash collateral of $35.8 billion, $34.1 billion and $32.3 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $51.9 billion, $45.6 billion and $37.1 billion, which consists primarily of other marketable securities, at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(2)Total utilized and total committed exposure includes loans of $5.1 billion, $6.5 billion and $6.1 billion and issued letters of credit with a notional amount of $37 million, $48 million and $80 million accounted for under the fair value option at June 30, 2022, March 31, 2022 and June 30, 2021, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $3.6 billion, $4.0 billion and $5.2 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(3)Includes U.S. small business commercial exposure.

(4)Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions.

(5)Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the primary business activity of the borrowers or the counterparties using operating cash flows and primary source of repayment as key factors.

(6)Includes $2.1 billion, $3.0 billion and $15.7 billion of PPP loan exposure across impacted industries at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			27


Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	June 30 2022			March 31 2022			December 31 2021			September 30 2021			June 30 2021
Residential mortgage	$	2,245		$	2,422		$	2,284		$	2,296		$	2,343
Home equity	563			615			630			676			651

Direct/Indirect consumer	58			67			75			45			50

Total consumer	2,866			3,104			2,989			3,017			3,044
U.S. commercial	742			818			825			909			1,060
Non-U.S. commercial	279			268			268			272			275
Commercial real estate	218			361			382			414			404
Commercial lease financing	44			54			80			70			81
	1,283			1,501			1,555			1,665			1,820
U.S. small business commercial	15			20			23			32			43
Total commercial	1,298			1,521			1,578			1,697			1,863
Total nonperforming loans and leases	4,164			4,625			4,567			4,714			4,907
Foreclosed properties (1)	162			153			130			117			124
Total nonperforming loans, leases and foreclosed properties (2, 3)	$	4,326		$	4,778		$	4,697		$	4,831		$	5,031

Fully-insured home loans past due 30 days or more and still accruing	$	734		$	817		$	887		$	930		$	997
Consumer credit card past due 30 days or more and still accruing	1,008			1,003			997			934			976
Other loans past due 30 days or more and still accruing	3,494			3,736			3,398			2,583			2,699
Total loans past due 30 days or more and still accruing (4, 5)	$	5,236		$	5,556		$	5,282		$	4,447		$	4,672

Fully-insured home loans past due 90 days or more and still accruing	$	492		$	574		$	634		$	648		$	687
Consumer credit card past due 90 days or more and still accruing	493			492			487			450			533
Other loans past due 90 days or more and still accruing	720			607			336			232			299
Total loans past due 90 days or more and still accruing (4, 5)	$	1,705		$	1,673		$	1,457		$	1,330		$	1,519

Nonperforming loans, leases and foreclosed properties/Total assets (6)	0.14		%	0.15		%	0.15		%	0.16		%	0.17		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (6)	0.42			0.48			0.48			0.52			0.55
Nonperforming loans and leases/Total loans and leases (6)	0.41			0.47			0.47			0.51			0.54

Commercial reservable criticized utilized exposure (7)	$	18,114		$	20,682		$	22,381		$	24,142		$	28,878
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (7)	2.95		%	3.54		%	3.91		%	4.53		%	5.45		%
Total commercial criticized utilized exposure/Commercial utilized exposure (7)	2.99			3.47			3.91			4.55			5.37

(1)Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally loans insured by the Federal Housing Administration (FHA), that entered foreclosure of $71 million, $61 million, $52 million, $55 million and $66 million at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively.

(2)Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.

(3)Balances do not include nonperforming loans held-for-sale of $270 million, $336 million, $264 million, $279 million and $348 million and nonperforming loans accounted for under the fair value option of $11 million, $19 million, $21 million, $13 million and $13 million at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively.

(4)Balances do not include loans held-for-sale past due 30 days or more and still accruing of $179 million, $654 million, $523 million, $222 million and $159 million at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively, and loans held-for-sale past due 90 days or more and still accruing of $22 million, $50 million, $41 million, $9 million and $70 million at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively. At June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, there were $34 million, $8 million, $12 million, $9 million and $74 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.

(5)These balances are excluded from total nonperforming loans, leases and foreclosed properties.

(6)Total assets and total loans and leases do not include loans accounted for under the fair value option of $5.5 billion, $7.1 billion, $7.8 billion, $7.6 billion and $7.0 billion at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively.

(7)Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.


Current-period information is preliminary and based on company data available at the time of the presentation.			28


Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	3,104	$	2,989	$	3,017	$	3,044	$	3,091

Additions	365		644		371		353		431


Reductions:
Paydowns and payoffs	(147)		(175)		(179)		(163)		(160)
Sales	(269)		(131)		(1)		(1)		(1)
Returns to performing status (2)	(157)		(202)		(198)		(201)		(291)
Charge-offs (3)	(23)		(15)		(15)		(12)		(25)
Transfers to foreclosed properties	(7)		(6)		(6)		(3)		(1)

Total net additions (reductions) to nonperforming loans and leases	(238)		115		(28)		(27)		(47)
Total nonperforming consumer loans and leases, end of period	2,866		3,104		2,989		3,017		3,044
Foreclosed properties	115		118		101		87		93
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	2,981	$	3,222	$	3,090	$	3,104	$	3,137

Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,521	$	1,578	$	1,697	$	1,863	$	2,071

Additions	321		183		372		275		503
Reductions:
Paydowns	(342)		(159)		(290)		(297)		(264)
Sales	(16)		(25)		(71)		(29)		(77)
Returns to performing status (5)	(146)		(5)		(95)		(82)		(59)
Charge-offs	(40)		(12)		(35)		(33)		(108)

Transfers to loans held-for-sale	—		(39)		—		—		(203)
Total net reductions to nonperforming loans and leases	(223)		(57)		(119)		(166)		(208)
Total nonperforming commercial loans and leases, end of period	1,298		1,521		1,578		1,697		1,863
Foreclosed properties	47		35		29		30		31
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,345	$	1,556	$	1,607	$	1,727	$	1,894

(1)For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 28.

(2)Consumer loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.

(3)Our policy is not to classify consumer credit card and non-bankruptcy related consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and, accordingly, are excluded from this table.

(4)Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

(5)Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.


Current-period information is preliminary and based on company data available at the time of the presentation.			29


Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Second Quarter 2022				First Quarter 2022				Fourth Quarter 2021				Third Quarter 2021				Second Quarter 2021
	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage (2)	$	86	0.15	%	$	(10)	(0.02)	%	$	(11)	(0.02)	%	$	(7)	(0.01)	%	$	(6)	(0.01)	%
Home equity (3)	(24)		(0.37)		(30)		(0.44)		(26)		(0.37)		(34)		(0.46)		(24)		(0.31)
Credit card	323		1.60		297		1.53		280		1.42		321		1.69		488		2.67

Direct/Indirect consumer	4		0.02		4		0.02		(3)		(0.01)		(18)		(0.07)		(9)		(0.04)
Other consumer	136		n/m		79		n/m		72		n/m		67		n/m		64		n/m
Total consumer	525		0.47		340		0.32		312		0.29		329		0.31		513		0.50
U.S. commercial	15		0.02		(14)		(0.02)		(19)		(0.02)		15		0.02		(31)		(0.04)
Non-U.S. commercial	(5)		(0.01)		1		—		(6)		(0.02)		1		—		14		0.06
Total commercial and industrial	10		0.01		(13)		(0.01)		(25)		(0.02)		16		0.02		(17)		(0.02)
Commercial real estate	(4)		(0.03)		23		0.15		6		0.04		—		—		17		0.11
Commercial lease financing	4		0.13		—		—		—		—		(1)		—		—		—
	10		0.01		10		0.01		(19)		(0.02)		15		0.01		—		—
U.S. small business commercial	36		0.79		42		0.94		69		1.32		119		1.76		82		0.98
Total commercial	46		0.03		52		0.04		50		0.04		134		0.11		82		0.07
Total net charge-offs	$	571	0.23		$	392	0.16		$	362	0.15		$	463	0.20		$	595	0.27

By Business Segment and All Other
Consumer Banking	$	502	0.70	%	$	416	0.59	%	$	411	0.58	%	$	489	0.69	%	$	625	0.89	%
Global Wealth & Investment Management	9		0.02		1		—		5		0.01		7		0.01		—		—
Global Banking	14		0.01		(12)		(0.01)		(28)		(0.03)		8		0.01		3		—
Global Markets	(4)		(0.01)		21		0.08		10		0.04		—		—		—		—
All Other	50		1.40		(34)		(0.91)		(36)		(0.91)		(41)		(0.92)		(33)		(0.70)
Total net charge-offs	$	571	0.23		$	392	0.16		$	362	0.15		$	463	0.20		$	595	0.27

(1)Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.

(2)Includes loan sale net charge-offs (recoveries) of $90 million and $(7) million for the second and first quarters of 2022, respectively.

(3)Includes loan sale net charge-offs (recoveries) of $(6) million and $(3) million for the second and first quarters of 2022, respectively..

n/m = not meaningful


Current-period information is preliminary and based on company data available at the time of the presentation.			30


Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Six Months Ended June 30
	2022				2021
	Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage (2)	$	76	0.07	%	$	(10)	(0.01)	%
Home equity (3)	(54)		(0.40)		(59)		(0.37)
Credit card	620		1.57		1,122		3.07

Direct/Indirect consumer	8		0.02		22		0.05
Other consumer	215		n/m		131		n/m
Total consumer	865		0.40		1,206		0.59
U.S. commercial	1		—		(19)		(0.01)
Non-U.S. commercial	(4)		(0.01)		40		0.09
Total commercial and industrial	(3)		—		21		0.01
Commercial real estate	19		0.06		28		0.09
Commercial lease financing	4		0.06		—		—
	20		0.01		49		0.02
U.S. small business commercial	78		0.87		163		0.93
Total commercial	98		0.04		212		0.09
Total net charge-offs	$	963	0.20		$	1,418	0.32

By Business Segment and All Other
Consumer Banking	$	918	0.65	%	$	1,435	1.01	%
Global Wealth & Investment Management	10		0.01		13		0.01
Global Banking	2		—		39		0.02
Global Markets	17		0.03		3		0.01
All Other	16		0.21		(72)		(0.74)
Total net charge-offs	$	963	0.20		$	1,418	0.32

(1)Net charge-off ratios are calculated as net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.

(2)Includes loan sale net charge-offs (recoveries) of $84 million for the six months ended June 30, 2022.

(3)Includes loan sale net charge-offs (recoveries) of $(8) million for the six months ended June 30, 2022.

n/m = not meaningful


Current-period information is preliminary and based on company data available at the time of the presentation.			31


Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	June 30, 2022		March 31, 2022			June 30, 2021
	Amount		Percent of Loans and Leases Outstanding (1, 2)	Amount			Percent of Loans and Leases Outstanding (1, 2)	Amount		Percent of Loans and Leases Outstanding (1, 2)
Allowance for loan and lease losses
Residential mortgage	$	280	0.12%	$	301		0.13%	$	394	0.18%
Home equity	116		0.43	172			0.64	203		0.67
Credit card	5,684		6.77	5,684			7.16	6,234		8.25

Direct/Indirect consumer	475		0.44	512			0.48	555		0.57
Other consumer	57		n/m	46			n/m	46		n/m
Total consumer	6,612		1.48	6,715			1.53	7,432		1.78
U.S. commercial (3)	3,012		0.81	2,966			0.85	3,529		1.10
Non-U.S. commercial	1,168		0.93	1,155			0.94	1,091		1.11
Commercial real estate	1,128		1.76	1,218			1.95	1,956		3.28
Commercial lease financing	53		0.39	50			0.36	87		0.55
Total commercial	5,361		0.93	5,389			0.98	6,663		1.35
Allowance for loan and lease losses	11,973		1.17	12,104			1.23	14,095		1.55


Reserve for unfunded lending commitments	1,461			1,379				1,687
Allowance for credit losses	$	13,434		$	13,483			$	15,782

Asset Quality Indicators

Allowance for loan and lease losses/Total loans and leases (2)			1.17%				1.23%			1.55%

Allowance for loan and lease losses/Total nonperforming loans and leases (4)			288				262			287

Ratio of the allowance for loan and lease losses/Annualized net charge-offs			5.22				7.62			5.90

(1)Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option include residential mortgage loans of $79 million, $248 million and $257 million, and home equity loans of $298 million, $320 million and $397 million at June 30, 2022, March 31, 2022 and June 30, 2021, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $2.9 billion, $4.0 billion and $4.4 billion and non-U.S. commercial loans of $2.2 billion, $2.6 billion and $1.9 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(2)Total loans and leases do not include loans accounted for under the fair value option of $5.5 billion, $7.1 billion and $7.0 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(3)Includes allowance for loan and lease losses for U.S. small business commercial loans of $921 million, $1.0 billion and $1.4 billion at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

(4)Allowance for loan and lease losses includes $6.6 billion, $6.6 billion and $7.5 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking) that are excluded from nonperforming loans and leases at June 30, 2022, March 31, 2022 and June 30, 2021, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 129 percent, 118 percent and 134 percent at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

n/m = not meaningful


Current-period information is preliminary and based on company data available at the time of the presentation.			32

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions, except per share information)

The Corporation evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents shareholders’ equity or common shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities ("adjusted" shareholders' equity or common shareholders’ equity). Return on average tangible common shareholders’ equity measures the Corporation’s net income applicable to common shareholders as a percentage of adjusted average common shareholders’ equity. The tangible common equity ratio represents adjusted ending common shareholders’ equity divided by total tangible assets (total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities). Return on average tangible shareholders’ equity measures the Corporation’s net income as a percentage of adjusted average total shareholders’ equity. The tangible equity ratio represents adjusted ending shareholders’ equity divided by total tangible assets. Tangible book value per common share represents adjusted ending common shareholders’ equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals.

See the tables below for reconciliations of these non-GAAP financial measures to the most closely related financial measures defined by GAAP for the six months ended June 30, 2022 and 2021, and the three months ended June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate supplemental financial data differently.


	Six Months Ended June 30				Second Quarter 2022		First Quarter 2022		Fourth Quarter 2021		Third Quarter 2021		Second Quarter 2021
	2022		2021





























Reconciliation of income before income taxes to pretax, pre-provision income
Income before income taxes	$	14,771	$	17,208	$	6,892	$	7,879	$	7,818	$	8,950	$	8,042
Provision for credit losses	553		(3,481)		523		30		(489)		(624)		(1,621)
Pretax, pre-provision income	$	15,324	$	13,727	$	7,415	$	7,909	$	7,329	$	8,326	$	6,421

Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity
Shareholders’ equity	$	268,750	$	274,341	$	268,197	$	269,309	$	270,883	$	275,484	$	274,632
Goodwill	(69,022)		(68,987)		(69,022)		(69,022)		(69,022)		(69,023)		(69,023)
Intangible assets (excluding mortgage servicing rights)	(2,136)		(2,179)		(2,127)		(2,146)		(2,166)		(2,185)		(2,212)
Related deferred tax liabilities	927		917		926		929		913		915		915
Tangible shareholders’ equity	$	198,519	$	204,092	$	197,974	$	199,070	$	200,608	$	205,191	$	204,312
Preferred stock	(27,565)		(24,039)		(28,674)		(26,444)		(24,364)		(23,441)		(23,684)
Tangible common shareholders’ equity	$	170,954	$	180,053	$	169,300	$	172,626	$	176,244	$	181,750	$	180,628








Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity
Shareholders’ equity	$	269,118	$	277,119	$	269,118	$	266,617	$	270,066	$	272,464	$	277,119
Goodwill	(69,022)		(69,023)		(69,022)		(69,022)		(69,022)		(69,023)		(69,023)
Intangible assets (excluding mortgage servicing rights)	(2,114)		(2,192)		(2,114)		(2,133)		(2,153)		(2,172)		(2,192)
Related deferred tax liabilities	920		915		920		926		929		913		915
Tangible shareholders’ equity	$	198,902	$	206,819	$	198,902	$	196,388	$	199,820	$	202,182	$	206,819
Preferred stock	(29,134)		(23,441)		(29,134)		(27,137)		(24,708)		(23,441)		(23,441)
Tangible common shareholders’ equity	$	169,768	$	183,378	$	169,768	$	169,251	$	175,112	$	178,741	$	183,378

Reconciliation of period-end assets to period-end tangible assets
Assets	$	3,111,606	$	3,029,894	$	3,111,606	$	3,238,223	$	3,169,495	$	3,085,446	$	3,029,894
Goodwill	(69,022)		(69,023)		(69,022)		(69,022)		(69,022)		(69,023)		(69,023)
Intangible assets (excluding mortgage servicing rights)	(2,114)		(2,192)		(2,114)		(2,133)		(2,153)		(2,172)		(2,192)
Related deferred tax liabilities	920		915		920		926		929		913		915
Tangible assets	$	3,041,390	$	2,959,594	$	3,041,390	$	3,167,994	$	3,099,249	$	3,015,164	$	2,959,594

Book value per share of common stock
Common shareholders’ equity	$	239,984	$	253,678	$	239,984	$	239,480	$	245,358	$	249,023	$	253,678
Ending common shares issued and outstanding	8,035.2		8,487.2		8,035.2		8,062.1		8,077.8		8,241.2		8,487.2
Book value per share of common stock	$	29.87	$	29.89	$	29.87	$	29.70	$	30.37	$	30.22	$	29.89

Tangible book value per share of common stock
Tangible common shareholders’ equity	$	169,768	$	183,378	$	169,768	$	169,251	$	175,112	$	178,741	$	183,378
Ending common shares issued and outstanding	8,035.2		8,487.2		8,035.2		8,062.1		8,077.8		8,241.2		8,487.2
Tangible book value per share of common stock	$	21.13	$	21.61	$	21.13	$	20.99	$	21.68	$	21.69	$	21.61


Current-period information is preliminary and based on company data available at the time of the presentation.			33

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Form 8-K BANK OF AMERICA CORP For: Jul 18

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