In  Closing. 

Our Serious Need For More Effective Public Policy and Competent Government. 

Evaluating and Managing the Economic and Geopolitical Risks Ahead. 

Some Commonsense Principles for Corporate Governance. 

Management Lessons.

Update on Specific Issues Facing Our Company.

Why We Are Proud of JPMorgan Chase.

Introduction to the 2022 Letter to Shareholders.

Letter to Shareholders from Chairman and Chief Executive Officer Jamie Dimon.

Dear Fellow Shareholders:

We are facing challenges at every turn: a pandemic, unprecedented government actions, a strong recovery after a sharp and deep global recession, a highly polarized U.S. election, mounting inflation, a war in Ukraine and dramatic economic sanctions against Russia.

While all this turmoil has serious ramifications on our company, its effect on the world — with the extreme suffering of the Ukrainian people and the potential restructuring of the global order — is far more important.

Adding to the disruption, these events are unfolding while America remains divided within its borders, with many arguing that it has lost its essential leadership role outside of its borders and around the world.

But during this difficult time, we have a moment to put aside our differences, offer solutions and work with others in the Western world to come together in defense of democracy and essential freedoms, including free enterprise.

We have seen America, in partnership with other countries around the globe, come together previously during instances of conflict and crisis.