Studies show that changes in extreme dry and wet precipitation events in response to anthropogenic global warming may produce more severe hydrologic extremes such as drought, flash floods, and run-off. Extreme precipitation events can lead to substantial loss of property and lives. Therefore, timely and accurate predictions of these events can potentially mitigate some of these losses by providing decision support to stakeholders and communities. In this session, we invite contributions that focus on decision-relevant research related to both wet and dry extreme precipitation events and their impact. This includes studies on the statistics of wet and dry precipitation extremes and events driven by those extremes in observations, reanalyses, and regional and global climate models; projected changes in the statistics of extreme precipitation indices (e.g., ETCCDI precipitation indices or drought indices); process-based characterization of precipitation extremes as well as prediction, predictability, detection, and attribution of extreme precipitation events.