Three things are measured, and they answer three different questions. Chromatographic purity is the main peak as a share of everything that absorbs at the detection wavelength — it tells you how much of the UV signal belongs to the target molecule. Total peptide mass is how much peptide is actually in the vial, weighed against a reference standard, which is the number that matters when you calculate an assay. Identity is a mass confirmation: the peak is the molecule it claims to be.
A vial can pass the first and fail the second. Purity of 99 % by area with 84 % peptide content is a normal, honest result — the remainder is counter-ion, water and residual solvent. A supplier who quotes only the first number is telling you half the story.