1. Each phantom stock unit is the economic equivalent of one share of Bank of America Corporation common stock.

2. Phantom stock units acquired represent payment of annual compensation for services as a director under the Bank of America Corporation Director Deferral Plan in transactions exempt under Rule 16b-3. Phantom stock units may be settled in cash upon death or termination of service as a director.

3. Includes 5,512.54 phantom stock units acquired in dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan.