Bank of America Corporation has announced the full redemption of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM, along with the corresponding depositary shares. The redemption will occur on January 28, 2025, which is also the dividend payment date. The redemption price for each depositary share is set at $1,000. Dividends of $21.50 per depositary share for the period from July 28, 2024, to January 28, 2025, will be paid separately on the Redemption Date to holders of record as of January 1, 2025.

The Depositary Shares are held through The Depository Trust Company and will be redeemed according to its procedures. Computershare Inc. and Computershare Trust Company, N.A., will act as the redemption agent.

This announcement does not serve as a formal notice of redemption under the governing documents for the Preferred Stock or Depositary Shares.

Bank of America serves a wide range of clients globally and offers various financial services including banking and investment management. It operates approximately 3,700 retail financial centers in the United States and has about 58 million verified digital users.

Forward-looking statements in this release involve risks and uncertainties as outlined in Bank of America's annual report and other filings with the Securities and Exchange Commission.

For more information or inquiries regarding this announcement:

Investors may contact Lee McEntire at 1.980.388.6780 or Jonathan G. Blum at 1.212.449.3112.

Reporters may contact Jocelyn Seidenfeld at 1.646.743.3356.

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