This document summarizes Bank of America's financial management strategies. It discusses generating diverse revenue streams, managing interest rate risk, maintaining strong capital and liquidity positions, and advantageously managing capital. Key points include generating over $74 billion in annual revenue from a variety of sources, holding net interest income steady despite rate changes, having enough liquidity to cover over 30 months of required funding, and returning over $80 billion to shareholders through buybacks and dividends. The goal is 10% annual EPS growth through revenue increases, operating efficiencies, controlled credit costs, and capital deployment.

1. Financial Management
Joe Price
Chief Financial Officer
Chan Martin
Treasurer

2. Forward Looking Statements
This presentation contains forward-looking statements, including statements about the financial
conditions, results of operations and earnings outlook of Bank of America Corporation. The forward-
looking statements involve certain risks and uncertainties. Factors that may cause actual results or
earnings to differ materially from such forward-looking statements include, among others, the
following: 1) projected business increases following process changes and other investments are lower
than expected; 2) competitive pressure among financial services companies increases significantly; 3)
general economic conditions are less favorable than expected; 4) political conditions including the
threat of future terrorist activity and related actions by the United States abroad may adversely affect
the company’s businesses and economic conditions as a whole; 5) changes in the interest rate
environment reduce interest margins and impact funding sources; 6) changes in foreign exchange
rates increases exposure; 7) changes in market rates and prices may adversely impact the value of
financial products; 8) legislation or regulatory environments, requirements or changes adversely affect
the businesses in which the company is engaged; 9) changes in accounting standards, rules or
interpretations, 10) litigation liabilities, including costs, expenses, settlements and judgments, may
adversely affect the company or its businesses; 11) mergers and acquisitions and their integration
into the company; and 12) decisions to downsize, sell or close units or otherwise change the business
mix of any of the company. For further information regarding Bank of America Corporation, please
read the Bank of America reports filed with the SEC and available at www.sec.gov.
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3. Bank of America Financial Management
• Generate diverse revenue stream through customer/
client activity
• Manage resulting interest rate risk in changing environment
• Maintain capital and liquidity strength
• Manage capital advantageously
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4. Financial Strength
Earnings
Liquidity Capital
4

5. Diverse Revenue Sources
2001 2006
$36B* $74B*
44% 48%
56% 52%
Net Interest Income Noninterest Income
5 * GAAP, FTE basis

6. History of Revenue Growth
Pro Forma FTE Revenue
80,000
70,000
60,000
7% CAGR
$ millions
50,000
40,000
30,000
20,000 4% CAGR
10,000
-
2001 2002 2003 2004 2005 2006
Net Interest Income Noninterest Income
6 * 2001 – 2003 reflect summation of line items from former Fleet, MBNA and Bank of America financial
statements. For 2004 – 2005 please refer to the Form 8-K filed April 10, 2006.

7. Noninterest Revenue Diversity – 2006 $38 Billion
Noninterest Revenue by Noninterest Revenue by
Product/Activity Segment
Other Other
Equity Gains 6% 5%
8%
Investment Global
Banking Card Income
Corporate &
6% 38%
Investment
Banking Global
Trading 31% Consumer &
8% Small
Business
Investment &
Global 54%
Brokerage
12% Mortgage Wealth &
Banking Service Investment
Income Charges Management
1% 21% 10%
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8. Where We’ve Come From
Held Core NII Trends* vs Market Spread Compression
10,000 350 bps.
8,000
250 bps.
Core NII ($Millions)
6,000
150 bps.
4,000
50 bps.
2,000
- (50 bps.)
1Q05
4Q05
4Q04
2Q05
3Q05
1Q06
2Q06
1Q04
3Q04
4Q06
2Q04
3Q06
Combined Core NII 5-Year CMS vs. 3-month Libor
8 *Pro Forma Basis

9. 2006 Revenue Growth
Pro Forma FTE Revenue
80,000
2006
70,000
Growth
60,000
18%
$ millions
50,000
40,000
30,000
20,000
3%
10,000
-
2001 2002 2003 2004 2005 2006
Net Interest Income Noninterest Income
9 * 2001 – 2003 reflect summation of line items from former Fleet, MBNA and Bank of America financial
statements. For 2004 – 2005 please refer to the Form 8-K filed April 10, 2006.

10. How Environment has Changed
• Abundant liquidity
• Productivity and technology impacts
• Innovative financial products
• Greater financial transparency
• Monetary policy
• Term structure of rates
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11. Interest Rate Risk Management
• Interest rate sensitivity
• Mortgage balances
• Proprietary information
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12. Positioning Bank of America for Success
• Diversity of revenue provides stability through cycles
• Focused on growing across enterprise to drive revenue
• Manage revenue stream holistically
• Achieving results from integrated banking
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13. Integrated Banking Coming to Life
Client Improvement After Dual Coverage Momentum
Premier Banking Acceptance Product Mix and Revenue Growth
YOY
w th
% Gr o Revenue
+33 Growth Lift
CMAS 41% +80%
32%
159%
60% Better Treasury
22%
8% Better Services 41%
Better 36% +18%
Better
Deposits Credit Investment Revenue Business
27% 23% +12%
Growth Growth Growth Lending
2005 2006
GWIM Converted Client Referrals
• Migrating Premier relationships to GWIM
155,233
48%
• Consumer channel diversification
104,879 • Originations distributed through GCIB
2005 2006
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14. Our Positioning for Tomorrow
• Pressure on 2007 NII growth
• Strength of businesses sustainable
• Value of diverse revenue mix
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15. Liquidity and Capital Strength

16. Liquidity – Time to Required Funding
Time to Required Funding
33
Months Before Market Access is Required
30
27
24
21
18
15
2001
2002
2003
2004
2005
2006
Time to Required Funding Maximum Target Minimum Target
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17. Diversity of Debt Issuance
Long-Term Debt Portfolio
2001 2006
Institutional
Non-USD
8% Institutional
Non-USD Institutional
Retail 34% USD
6% 44%
Institutional Retail
USD 22%
86%
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18. Capital Strength and Ratios
(in billions, as of 12/31)
2006 2005
Total Assets $1,460 $1,292
Total Shareholders’ Equity $135 $102
Tier 1 Capital Ratio 8.64 % 8.25%
Tier 1 Leverage Ratio 6.36 % 5.91%
Number Common Shares O/S 4.46 4.00
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19. Capital Usage

20. Capital Usage
$27 Billion Cash Flow
Business
Acquisitions
Growth
Strong Balance Share
Sheet Repurchases
Dividends
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21. Making Good Capital Decisions
Capital Investment Primary Advantage
Santander
Serfin
Enhance multicultural strategy
Gain scale in merchant services
National Processing business
China Construction Tap into tremendous growth of
Bank Chinese economy
Complete national franchise and
Fleet entry into NE wealth markets
Become premier payments provider
MBNA
and leverage products and distribution
Enhance capability to serve high-net
U.S. Trust
worth
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22. Actively Managing Excess Capital
($ in millions)
• Returned more than $80 billion in $80,237
capital since 1998
• Repurchases plus dividends have
$44,626
averaged 80% of net income
$35,611
Dividends Repurchases
1998 1999 2000 2001 2002 2003 2004 2005 2006 Cumulative
Capital returned as %
58 88 84 96 89 91 63 63 91 80
of earnings
Tier 1 Tier 1
7.06% 8.64%
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23. Longer-term Financial Objectives
10% EPS growth to be driven by:
• 6% to 9% revenue growth
• 2% to 4% operating leverage
• Manageable credit costs
• Advantageous capital management
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24. Summary
• Generate diverse revenue stream through customer /
client activity
• Manage resulting interest rate risk in changing environment
• Maintain capital and liquidity strength
• Manage capital advantageously
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