On February 22, 2022, Susan S. Bies, a member of the board of directors of Bank of America Corporation, informed the Corporation that she would not stand for re-election as a member of the Board at the Corporation's 2022 annual meeting of shareholders. Ms. Bies's decision not to stand for re-election to the Board one year ahead of reaching the Board's retirement age of 75, was not a result of any disagreement with the Corporation.