Bank of America Opportunities For GrowthKen LewisChairman, President and Chief Executive Officer

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Forward Looking StatementsThis 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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Investor Conference Goals

• Better understand embedded franchise opportunities

• Interact with management team

• Hear feedback from investors and analysts

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Who We Are

• Best franchise in U.S. banking

• Leveraging the advantages of scale and convenience

• Strong track record of strategic execution and growth

• Franchise full of opportunities

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The 4 “I’s” of Increasing Shareholder Value

Information

Integration

Investment

Innovation

Shareholder Value

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Information Flow Begins With Our Customers

IntegratedDelivery

CustomerInsights

InnovativeSolutions

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Client Manager

Banking CapitalMarkets

InvestmentBanker

Integration Brings all of Bank of America to Clients

Client Manager

Banking Investments

Financial Advisor

Premier Customer Business Customer

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Innovation – Anticipating Customer Needs

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Investing in Future Growth

• Capital markets platform

• Premier banking distribution

• Treasury services capabilities

• Back office delivery

• Online sales and service

• Strengthen payments businesses

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Risk ManagementAs A

CompetitiveAdvantage

Improve the Customer

Experience

Build a StrongBrand

Execution is Driving Organic Growth

Use the Advantages of Scale

Innovation

Organic Growth

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Brand – Critical to Growing a Retail Business

Bank of America Unaided Brand Awareness

Source: Brand Research & Analytics, Fortune, FT

23%

2000

200643%

• Wells Fargo – 19%• Citibank – 19%• Wachovia – 16%• Chase – 20%

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Associate• More than 9,000 Six Sigma green, black and master

black belts certified since 2001• Over 80,000 associates introduced to

quality principles• Business leaders trained in Six Sigma skills

Driving Results Through Process Improvement

Customer• 20%+ improvement in customer delight scores since 2001• Awarded Outstanding corporate innovator award from

Product Development and Management Assoc.

Shareholder • Savings reinvested in businesses• Several processes at Six Sigma quality

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Strong Risk Culture

2007 & Beyond: To Competitive Advantage• Increased predictive capabilities• Greater market understanding• Holistic risk view• Deeper organizational understanding and

ownership

2001-2006: Built Core Competency• Comprehensive risk coverage• Stronger risk disciplines• Enhanced tools and processes• Increased executive ownership and

partnership

14 FTE basis; excludes merger & restructuring charges

Effectively Managing Costs

2005

Efficiency Ratio

50%

54%

52%53%

2000 2001 2002 2003 2004

47%

2006

50% target

54%

52%

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$9.89

$15.89

$7.57

$5.24

$4.70

$2.55$0.00

$5.00

$10.00

$15.00

$20.00

2000 2001 2002 2003 2004 2005 2006

Revenue per share Expense per share Earnings per share

Compound Annual Growth Rates

Revenue 8%

Expense 6%

Earnings 11%

Based on originally reported results on a per share basis excluding goodwill amortization expense in 2000 and 2001 and merger and restructuring charges in all periods.EPS is diluted.

On a per share basis

Operating Leverage Provides Good Returns

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Consistent Attractive Earnings Growth

$3.55

$3.05

$3.75

$2.88 $2.55

11% Compound Growth

2000 - $2.26 reported EPS has been adjusted to exclude $.10 impact of restructuring charges as well as $.19 goodwill amortization expense eliminated in 2002 for comparability to other periods.

2001 - $2.30 reported EPS has been adjusted to exclude $.39 impact of business exit costs as well as $.19 goodwill amortization expense eliminated in 2002 for comparability to other periods.

2004 - $3.64 reported EPS has been adjusted $. 11 to exclude charges for merger and restructuring costs.2005 - $4.04 reported EPShas been adjusted $.07 to excludes charges for merger and restructuring costs2006 - $4.59 reported EPShas been adjusted $.11 to excludes charges for merger and restructuring costs

Diluted EPS

2001 2002 2003 20042000 2005

$4.11

$4.70

2006

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Bank of America

S & P 500Dow

KBW BankIndex

Wachovia

US Bancorp

Wells FargoCitigroup

JP Morgan

Total Annualized Shareholder Return From 12/31/00

Bank of America

S & P 500

Dow

KBW Bank Index

JP MorganUS Bancorp

WachoviaWells Fargo

Citigroup

Total Annualized Shareholder Return From 12/31/03

Providing Good Returns

15%

10%

8%

10%

13%12%

11%10%

9%

20%

3%5%

8%

16%

12%

7%6% 5%

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$2.12

1977 2006

13% annualized growth

29 Consecutive Years of Dividend Increases

Dividend Yield4.0%+

Yield based on annualized dividend and price as of 2/15/07

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How We Will Grow?

ORGANIC GROWTH

Acquisitions

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What Will Differentiate Bank of America?

Execution

Customers