We revisit some properties of AdS2 Einstein-Maxwell gravity with the aim of reconciling apparently conflicting results in prior literature. We show that the two dimensional theory can be obtained as a dimensional reduction of the three dimensional Einstein gravity with the CSS boundary condition. In general, this theory on AdS2 can be viewed as an effective theory of the near horizon geometry of a (near-)extremal black hole. We provide an interpretation of our results in terms of the microscopic description of an extremal black hole.