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0001390777false00013907772026-01-132026-01-130001390777us-gaap:CommonStockMemberexch:XNYS2026-01-132026-01-130001390777us-gaap:PreferredStockMemberexch:XNYS2026-01-132026-01-130001390777bk:DepositarySharesMemberexch:XNYS2026-01-132026-01-13

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) – January 13, 2026
THE BANK OF NEW YORK MELLON CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 001-35651 13-2614959
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (I.R.S. Employer
Identification No.)

240 Greenwich Street
New York, New York 10286
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code – (212) 495-1784

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:

Title of each class		 Trading
symbol(s)		 Name of each exchange
on which registered
Common Stock, $0.01 par value BK New York Stock Exchange
6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV BK/P New York Stock Exchange
 (fully and unconditionally guaranteed by The Bank of New York Mellon Corporation)
Depositary Shares, each representing a 1/4,000th interest in a share of Series K Noncumulative BK PRK New York Stock Exchange
Perpetual Preferred Stock

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 under the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


ITEM 2.02.    RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On January 13, 2026, The Bank of New York Mellon Corporation (“BNY”) released information on its financial results for the fourth quarter ended December 31, 2025. Copies of the Earnings Release and the Financial Supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference.


ITEM 7.01.    REGULATION FD DISCLOSURE.

On January 13, 2026, BNY will hold a conference call and webcast to discuss its financial results for the fourth quarter ended December 31, 2025 and outlook. A copy of the Quarterly Update Presentation for the conference call and webcast is attached hereto as Exhibit 99.3.


ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS.


    (d)    EXHIBITS.
Exhibit
Number Description
99.1 
The quotation in Exhibit 99.1 (the “Excluded Section”) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of BNY under the Securities Act of 1933 or the Exchange Act. The information included in Exhibit 99.1, other than in the Excluded Section, shall be deemed “filed” for purposes of the Exchange Act.
99.2 
The information included in Exhibit 99.2 shall be deemed “filed” for purposes of the Exchange Act.
99.3 
The information included in Exhibit 99.3 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of BNY under the Securities Act of 1933 or the Exchange Act.
104  Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

The Bank of New York Mellon Corporation
(Registrant)
Date: January 13, 2026 By: /s/ Jean Weng
Name:
Title: 		Jean Weng
Secretary



3
EX-99.1 2 ex991_earningsreleasex4q25.htm EARNINGS RELEASE Document
bny_logoxrevxrgbx2x002002a.jpg
4Q25
FINANCIALRESULTS


BNY Reports Fourth Quarter 2025
Earnings Per Common Share of $2.02, or $2.08 as Adjusted (a)
Full-Year 2025 Earnings Per Common Share of $7.40, or $7.50 as Adjusted (a)
NEW YORK, January 13, 2026 – The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK) today has reported financial results for the fourth quarter of 2025.
CEO COMMENTARY
quotation-markxleft_3q24a.jpg
 2025 was another successful year for BNY. We delivered record net income of $5.3 billion on record revenue of $20.1 billion and generated an ROTCE of 26%. On the back of eight consecutive quarters of positive operating leverage, we grew earnings per share by 28% year-over-year and returned $5.0 billion of capital to our shareholders.
Three years ago, we embarked on a multi-year transformation of BNY. Two years ago, we communicated our strategic roadmap and a set of medium-term financial targets for what we viewed as the first, foundation-setting phase of that work. The pace of progress and our results to date demonstrate that the strategy is working.
Today, we are raising the bar. With the foundations in place, we expect to realize greater scale and growth opportunities across our platforms. Our new medium-term financial targets represent the next milestones on our path to unlocking BNY’s full potential over the long-term.
I want to thank our teams around the world for their dedication to our clients and their commitment to reimagining BNY. We are entering 2026 with positive momentum and excited for the work ahead of us to deliver increased value for our clients and shareholders.
quotation-markxright_3q24a.jpg
– Robin Vince, Chief Executive Officer
EPS Adj. EPS Pre-tax margin ROE ROTCE
4Q25
$2.02
      $2.08 (a)
36%
14.5%
     26.6% (a)
FY25
$7.40
     $7.50 (a)
35%
13.9%
     26.1% (a)
4Q25 KEY FINANCIAL INFORMATION
(dollars in millions, except per share amounts and unless otherwise noted) 4Q25 vs.
4Q25 3Q25 4Q24
Selected income statement data:
Total fee revenue $ 3,698  2 % 5 %
Investment and other revenue 135  N/M N/M
Net interest income 1,346  9 % 13 %
Total revenue $ 5,179  2 % 7 %
Provision for credit losses (26) N/M N/M
Noninterest expense $ 3,360  4 % — %
Net income applicable to common shareholders $ 1,427  7 % 26 %
Diluted EPS $ 2.02  7 % 31 %
Selected metrics:
AUC/A (in trillions)
 $ 59.3  3 % 14 %
AUM (in trillions)
 $ 2.2  2 % 7 %
Financial ratios: 4Q25 3Q25 4Q24
Pre-tax operating margin 36 % 36 % 30 %
ROE 14.5 % 13.7 % 12.2 %
ROTCE (a)
 26.6 % 25.6 % 23.3 %
Capital ratios:
Tier 1 leverage ratio 6.0 % 6.1 % 5.7 %
CET1 ratio 11.9 % 11.7 % 11.2 %
4Q25 HIGHLIGHTS
Results
•Total revenue of $5.2 billion, increased 7%
•Noninterest expense of $3.4 billion, was flat; or increased 4% excluding notable items (a)
•Diluted EPS of $2.02, increased 31%; or 21% excluding notable items (a)

4Q25 Notable items (a)
•Results include $51 million of noninterest expense primarily related to severance, partially offset by an adjustment to the FDIC special assessment

Profitability
•Pre-tax operating margin of 36%
•ROTCE of 26.6% (a)

Balance sheet
•Average deposits of $310 billion, increased 8% year-over-year and 4% sequentially
•Tier 1 leverage ratio of 6.0%, increased 26 bps year-over-year and decreased 9 bps sequentially

Capital distribution
•Returned $1.4 billion of capital to common shareholders
•$377 million of dividends
•$1.0 billion of share repurchases
•Total payout ratio of 94% for full-year 2025
(a) For information on the Non-GAAP measures, see “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11.
Note: Above comparisons are 4Q25 vs. 4Q24, unless otherwise noted.
Media: Anneliese Diedrichs + 1 646 468 6026
Investors: Marius Merz +1 212 298 1480
BNY 4Q25 Financial Results
CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per share amounts and unless otherwise noted;
not meaningful - N/M)		 4Q25 vs.
4Q25 3Q25 4Q24 3Q25 4Q24
Fee revenue $ 3,698  $ 3,637  $ 3,513  2 %      5 %     
Investment and other revenue 135  208  140  N/M N/M
Total fee and other revenue 3,833  3,845  3,653  —  5 
Net interest income 1,346  1,236  1,194  9  13 
Total revenue 5,179  5,081  4,847  2  7 
Provision for credit losses (26) (7) 20  N/M N/M
Noninterest expense 3,360  3,236  3,355  4  — 
Income before taxes 1,845  1,852  1,472  —  25 
Provision for income taxes 376  395  315  (5) 19 
Net income $ 1,469  $ 1,457  $ 1,157  1 %      27 %     
Net income applicable to common shareholders of The Bank of New York Mellon Corporation $ 1,427  $ 1,339  $ 1,130  7 %      26 %     
Operating leverage (a)
 (190)  bps 670   bps
Diluted earnings per common share $ 2.02  $ 1.88  $ 1.54  7 %      31 %     
Average common shares and equivalents outstanding - diluted (in thousands)
 705,140  712,854  733,720 
Pre-tax operating margin 36 % 36 % 30 %
Metrics:
Average loans $ 76,678  $ 72,692  $ 69,211  5 % 11 %     
Average deposits 310,482  299,326  286,488  4  8 
AUC/A at period end (in trillions) (current period is preliminary)
 59.3  57.8  52.1  3  14 
AUM at period end (in trillions) (current period is preliminary)
 2.2  2.1  2.0  2  7 
Non-GAAP measures, excluding notable items: (b)
Adjusted total revenue $ 5,179  $ 5,069  $ 4,847  2 % 7 %
Adjusted noninterest expense 3,309  3,197  3,190  4  4 
Adjusted operating leverage (a)
 (133)  bps 312  bps
Adjusted diluted earnings per common share $ 2.08  $ 1.91  $ 1.72  9 %      21 %
Adjusted pre-tax operating margin 37 % 37 % 34 %
(a)    Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.
(b)    See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for additional information.
bps – basis points.
KEY DRIVERS (comparisons are 4Q25 vs. 4Q24, unless otherwise noted)
•Total revenue increased 7%, primarily reflecting:
•Fee revenue increased 5%, primarily reflecting higher market values, net new business and higher client activity and a favorable impact of a weaker U.S. dollar, partially offset by the mix of AUM flows.
•Investment and other revenue decreased primarily reflecting other investment losses, partially offset by lower net securities losses.
•Net interest income increased 13%, primarily reflecting the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by deposit margin compression.
•Provision for credit losses was a benefit of $26 million, primarily driven by improvements in commercial real estate exposure and changes in the macroeconomic forecast.
•Noninterest expense was flat, reflecting higher investments and revenue-related expenses, employee merit increases and an unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings, the net impact of the adjustments for the FDIC special assessment, and lower severance expense and litigation reserves. Excluding notable items, noninterest expense
increased 4% (a).
•Effective tax rate of 20.4%.
Assets under custody and/or administration (“AUC/A”) and Assets under management (“AUM”)
•AUC/A increased 14%, primarily reflecting client inflows, higher market values and the favorable impact of the weaker U.S. dollar.
•AUM increased 7%, primarily reflecting higher market values and the favorable impact of the weaker U.S. dollar, partially offset by cumulative net outflows.
Capital and liquidity
•$377 million of dividends to common shareholders (b); $1.0 billion of common share repurchases.
•Return on common equity (“ROE”) – 14.5%; Adjusted ROE – 14.9% (a).
•Return on tangible common equity (“ROTCE”) – 26.6% (a); Adjusted ROTCE – 27.4% (a).
•Common Equity Tier 1 (“CET1”) ratio – 11.9%; Tier 1 leverage ratio – 6.0%.
•Average liquidity coverage ratio (“LCR”) – 112%; Average net stable funding ratio (“NSFR”) – 130%.
•Total Loss Absorbing Capacity (“TLAC”) ratios exceed minimum requirements.
(a)    See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for additional information.
(b)    Including dividend-equivalents on share-based awards.
Note: Throughout this document, sequential growth rates are unannualized.
2
BNY 4Q25 Financial Results
FULL-YEAR CONSOLIDATED FINANCIAL HIGHLIGHTS

(dollars in millions, except per share amounts; not meaningful - N/M) 2025 vs.
2025 2024 2024
Fee revenue $ 14,379  $ 13,620  6 %
Investment and other revenue 757  687  N/M
Total fee and other revenue 15,136  14,307  6
Net interest income 4,944  4,312  15 
Total revenue 20,080  18,619  8 
Provision for credit losses (32) 70  N/M
Noninterest expense 13,054  12,701  3 
Income before taxes 7,058  5,848  21 
Provision for income taxes 1,475  1,305  13 
Net income $ 5,583  $ 4,543  23 %
Net income applicable to common shareholders of The Bank of New York Mellon Corporation $ 5,306  $ 4,336  22 %
Operating leverage (a)
 507  bps
Diluted earnings per common share $ 7.40  $ 5.80  28 %
Average common shares and equivalents outstanding - diluted (in thousands)
 716,718  748,101 
Pre-tax operating margin 35 % 31 %
Non-GAAP measures, excluding notable items: (b)
Adjusted total revenue $ 20,028  $ 18,619  8 %
Adjusted noninterest expense $ 12,912  $ 12,480  3 %
Adjusted operating leverage (a)
 411  bps
Adjusted diluted earnings per common share $ 7.50  $ 6.03  24 %
Adjusted pre-tax operating margin 36 % 33 %
(a)    Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.
(b)    See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for additional information.
bps – basis points.


KEY DRIVERS (comparisons are 2025 vs. 2024, unless otherwise noted)
•Total revenue increased 8%, primarily reflecting:
•Fee revenue increased 6%, primarily reflecting net new business and higher client activity, higher market values and the favorable impact of a weaker U.S. dollar, partially offset by the mix of AUM flows.
•Investment and other revenue increased primarily reflecting disposal gains and net gains on other investments.
•Net interest income increased 15%, primarily reflecting the reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by deposit margin compression.
•Provision for credit losses was a benefit of $32 million, primarily driven by improvements in commercial real estate exposure and changes in the macroeconomic forecast.
•Noninterest expense increased 3%, primarily reflecting higher investments, employee merit increases, higher revenue-related expenses and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings. Excluding notable items, noninterest expense also increased 3% (a).
•Effective tax rate of 20.9%.

Capital and liquidity
•Returned $5.0 billion to common shareholders, including dividends of $1.4 billion (including dividend equivalents on share-based awards) and $3.5 billion of share repurchases.
•ROE – 13.9%; Adjusted ROE – 14.1% (a).
•ROTCE – 26.1% (a); Adjusted ROTCE – 26.4% (a).








(a)    See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for additional information.
3
BNY 4Q25 Financial Results
SECURITIES SERVICES BUSINESS SEGMENT HIGHLIGHTS

(dollars in millions, unless otherwise noted; not meaningful - N/M) 4Q25 vs.
4Q25 3Q25 4Q24 3Q25 4Q24
Investment services fees:
Asset Servicing $ 1,159  $ 1,141  $ 1,042  2 % 11 %
Issuer Services 331  313  295  6 12
Total investment services fees 1,490  1,454  1,337  2 11
Foreign exchange revenue 142  143  147  (1) (3)
Other fees (a)
 68  73  62  (7) 10
Total fee revenue 1,700  1,670  1,546  2 10
Investment and other revenue 62  119  97  N/M N/M
Total fee and other revenue 1,762  1,789  1,643  (2) 7
Net interest income 735  670  681  10  8 
Total revenue 2,497  2,459  2,324  2 7
Provision for credit losses (13) (3) 15  N/M N/M
Noninterest expense 1,672  1,656  1,666  1  — 
Income before taxes $ 838  $ 806  $ 643  4 % 30 %
Total revenue by line of business:
Asset Servicing $ 1,945  $ 1,915  $ 1,797  2 % 8 %
Issuer Services 552  544  527  1  5 
Total revenue by line of business $ 2,497  $ 2,459  $ 2,324  2 % 7 %
Pre-tax operating margin 34 % 33 % 28 %
Securities lending revenue (b)
 $ 69  $ 62  $ 52  11 % 33 %
Metrics:
Average loans $ 11,439  $ 10,706  $ 11,553  7 % (1) %
Average deposits $ 192,796  $ 183,081  $ 180,843  5 % 7 %
AUC/A at period end (in trillions) (current period is preliminary) (c)
 $ 43.0  $ 41.7  $ 37.7  3 % 14 %
Market value of securities on loan at period end (in billions) (d)
 $ 604  $ 554  $ 488  9 % 24 %
(a)    Other fees primarily include financing-related fees.
(b)    Included in investment services fees reported in the Asset Servicing line of business.
(c)    Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.2 trillion at Dec. 31, 2025, $2.1 trillion at Sept. 30, 2025 and $1.8 trillion at Dec. 31, 2024.
(d)    Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $74 billion at Dec. 31, 2025, $81 billion at Sept. 30, 2025 and $60 billion at Dec. 31, 2024.


KEY DRIVERS

•The drivers of the total revenue variances by line of business are indicated below.
•Asset Servicing – The year-over-year increase primarily reflects higher net interest income, client activity and market values, partially offset by an investment loss. The sequential increase primarily reflects higher net interest income, client activity, and market values, partially offset by a 4Q25 investment loss and a 3Q25 disposal gain.
•Issuer Services – The year-over-year and sequential increases primarily reflect higher Depositary Receipts revenue, partially offset by lower Corporate Trust revenue.
•Noninterest expense was flat year-over-year reflecting higher investments and revenue-related expenses, employee merit increases and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings and lower litigation reserves. The sequential increase primarily reflects higher revenue-related expenses and investments, partially offset by lower severance expense.
4
BNY 4Q25 Financial Results
MARKET AND WEALTH SERVICES BUSINESS SEGMENT HIGHLIGHTS

(dollars in millions, unless otherwise noted; not meaningful - N/M) 4Q25 vs.
4Q25 3Q25 4Q24 3Q25 4Q24
Investment services fees:
Pershing $ 505  $ 508  $ 516  (1) % (2) %
Payments and Trade (a)
 212  214  206  (1) 3 
Clearance and Collateral Management 417  398  364  5  15 
Total investment services fees 1,134  1,120  1,086  1  4 
Foreign exchange revenue 28  31  27  (10) 4 
Other fees (b)
 65  70  61  (7) 7 
Total fee revenue 1,227  1,221  1,174  —  5 
Investment and other revenue 9  22  19  N/M N/M
Total fee and other revenue 1,236  1,243  1,193  (1) 4 
Net interest income 569  524  474  9  20 
Total revenue 1,805  1,767  1,667  2  8 
Provision for credit losses (7) (3) 9  N/M N/M
Noninterest expense 930  895  852  4  9 
Income before taxes $ 882  $ 875  $ 806  1 % 9 %
Total revenue by line of business:
Pershing $ 741  $ 729  $ 705  2 % 5 %
Payments and Trade (a)
 524  510  471  3  11 
Clearance and Collateral Management 540  528  491  2  10 
Total revenue by line of business $ 1,805  $ 1,767  $ 1,667  2 % 8 %
Pre-tax operating margin 49 % 50 % 48 %
Metrics:
Average loans $ 49,613  $ 46,278  $ 42,217  7 % 18 %
Average deposits $ 101,751  $ 97,497  $ 90,980  4 % 12 %
AUC/A at period end (in trillions) (current period is preliminary) (c)
 $ 15.9  $ 15.8  $ 14.1  1 % 13 %
(a)    Formerly Treasury Services.
(b)    Other fees primarily include financing-related fees.
(c)    Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.


KEY DRIVERS

•The drivers of the total revenue variances by line of business are indicated below.
•Pershing – The year-over-year increase primarily reflects higher net interest income and market values, partially offset by lower client activity. The sequential increase primarily reflects higher net interest income.
•Payments and Trade – The year-over-year increase primarily reflects higher net interest income and net new business, partially offset by an investment loss. The sequential increase primarily reflects higher net interest income, partially offset by an investment loss.
•Clearance and Collateral Management – The year-over-year increase primarily reflects higher collateral management balances and clearance volumes. The sequential increase primarily reflects higher collateral management balances.
•Noninterest expense increased year-over-year primarily reflecting higher investments and revenue-related expenses, employee merit increases and higher severance expense, partially offset by efficiency savings. The sequential increase primarily reflects higher investments and severance expense.
5
BNY 4Q25 Financial Results
INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT HIGHLIGHTS

(dollars in millions, unless otherwise noted; not meaningful - N/M) 4Q25 vs.
4Q25 3Q25 4Q24 (a) 3Q25 4Q24 (a)
Investment management fees (a)
 $ 793  $ 776  $ 789  2 % 1 %
Performance fees 14  6  20  N/M N/M
Investment management and performance fees 807  782  809  3  — 
Distribution and servicing fees 69  69  68  —  1 
Other fees (b)
 (84) (78) (64) N/M N/M
Total fee revenue 792  773  813  2  (3)
Investment and other revenue (c)
 11  10  13  N/M N/M
Total fee and other revenue (c)
 803  783  826  3  (3)
Net interest income 51  41  47  24  9 
Total revenue 854  824  873  4  (2)
Provision for credit losses 3  —  —  N/M N/M
Noninterest expense (a)
 703  640  700  10  — 
Income before taxes $ 148  $ 184  $ 173  (20) % (14) %
Total revenue by line of business:
Investment Management (a)(d)
 $ 577  $ 559  $ 598  3 % (4) %
Wealth Management (d)
 277  265  275  5  1 
Total revenue by line of business $ 854  $ 824  $ 873  4 % (2) %
Pre-tax operating margin 17 % 22 % 20 %
Adjusted pre-tax operating margin – Non-GAAP (e)
 19 % 24 % 22 %
Metrics:
Average loans $ 13,931  $ 14,143  $ 13,718  (1) % 2 %
Average deposits $ 9,453  $ 9,201  $ 9,967  3 % (5) %
AUM (in billions) (current period is preliminary) (f)
 $ 2,178  $ 2,142  $ 2,029  2 % 7 %
Wealth Management client assets (in billions) (current period
is preliminary) (g)
 $ 350  $ 348  $ 327  1 % 7 %
(a)    Effective 1Q25, an adjustment for certain rebates, which were previously recorded as distribution and servicing expense, began to be reflected as a reduction of investment management fees. These amounts totaled approximately $20 million for all periods presented and impacted the year-over-year variances for investment management fees and related revenue subtotals, noninterest expense and Investment Management total revenue in the table above.
(b)    Other fees primarily include investment services fees.
(c)    Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.
(d)    In 4Q25, the prior period total revenue by line of business for Investment Management and Wealth Management was revised for comparability to reflect the movement of certain fixed income investment management business from Wealth Management to Investment Management. There was no impact to total revenue reported for the Investment and Wealth Management business segment or on a consolidated basis.
(e)    Net of distribution and servicing expense. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for information on this Non-GAAP measure.
(f)    Represents assets managed in the Investment and Wealth Management business segment.
(g)    Includes AUM and AUC/A in the Wealth Management line of business.


KEY DRIVERS

•The drivers of the total revenue variances by line of business are indicated below.
•Investment Management – The year-over-year decrease primarily reflects the mix of AUM flows and the adjustment for certain rebates (offset in noninterest expense) (a), partially offset by higher market values and the favorable impact of the weaker U.S. dollar. The sequential increase primarily reflects higher market values and the timing of performance fees.
•Wealth Management – The sequential increase primarily reflects higher net interest income and market values.
•Noninterest expense was flat year-over-year reflecting higher investments and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings. The sequential increase primarily reflects higher revenue-related and severance expenses.
6
BNY 4Q25 Financial Results
OTHER SEGMENT

The Other segment primarily includes the leasing portfolio, corporate treasury activities, including our securities portfolio, derivatives and other trading activity, tax credit investments and other corporate investments, certain business exits and other corporate revenue and expense items.

(dollars in millions) 4Q25 3Q25 4Q24
Fee revenue $ (21) $ (27) $ (20)
Investment and other revenue 45  45  9 
Total fee and other revenue 24  18  (11)
Net interest (expense) income (9) 1  (8)
Total revenue 15  19  (19)
Provision for credit losses (9) (1) (4)
Noninterest expense 55  45  137 
(Loss) before taxes $ (31) $ (25) $ (152)


KEY DRIVERS

•Total revenue includes corporate treasury and other investment activity, including hedging activity which has an offsetting impact between fee and other revenue and net interest expense. The year-over-year increase was primarily driven by lower net securities losses.

•Noninterest expense decreased year-over-year primarily driven by lower severance expense and the net impact of the adjustments for the FDIC special assessment. The sequential increase primarily reflects higher severance expense, partially offset by the net impact of the adjustments for the FDIC special assessment.

7
BNY 4Q25 Financial Results
NOTABLE ITEMS BY BUSINESS SEGMENT

Notable items by business segment (a)
 4Q25 4Q24
(dollars in millions) Securities
Services		 Market and Wealth Services Investment and Wealth Management Other Total Securities
Services		 Market and Wealth Services Investment and Wealth Management Other Total
Fee and other revenue $ —  $ —  $ —  $ —  $ —  $ —  $ —  $ —  $ —  $ — 
Noninterest expense 24  27  17  (17) 51  50  15  16  84  165 
(Loss) income before taxes $ (24) $ (27) $ (17) $ 17  $ (51) $ (50) $ (15) $ (16) $ (84) $ (165)
(a)    See page 11 for details of notable items and line items impacted.


Notable items by business segment (a)
 3Q25
(dollars in millions) Securities
Services		 Market and Wealth Services Investment and Wealth Management Other Total
Fee and other revenue $ 12  $ —  $ —  $ —  $ 12 
Noninterest expense 38  8  2  (9) 39 
(Loss) income before taxes $ (26) $ (8) $ (2) $ 9  $ (27)
(a)    See page 11 for details of notable items and line items impacted.


Notable items by business segment (a)
 2025 2024
(dollars in millions) Securities
Services		 Market and Wealth Services Investment and Wealth Management Other Total Securities
Services		 Market and Wealth Services Investment and Wealth Management Other Total
Fee and other revenue $ 52  $ —  $ —  $ —  $ 52  $ —  $ —  $ —  $ —  $ — 
Noninterest expense 63  58  33  (12) 142  66  20  20  115  221 
(Loss) income before taxes $ (11) $ (58) $ (33) $ 12  $ (90) $ (66) $ (20) $ (20) $ (115) $ (221)
(a)    See pages 11 and 12 for details of notable items and line items impacted.
8
BNY 4Q25 Financial Results
CAPITAL AND LIQUIDITY

Capital and liquidity ratios Dec. 31, 2025 Sept. 30, 2025 Dec. 31, 2024
Consolidated regulatory capital ratios: (a)
CET1 ratio 11.9 % 11.7 % 11.2 %
Tier 1 capital ratio 14.6  14.4  13.7 
Total capital ratio 15.4  15.3  14.8 
Tier 1 leverage ratio (a)
 6.0  6.1  5.7 
Supplementary leverage ratio (a)
 6.7  6.7  6.5 
BNY shareholders’ equity to total assets ratio 9.4 % 9.6 % 9.9 %
BNY common shareholders’ equity to total assets ratio 8.4 % 8.6 % 8.9 %
Average LCR (a)
 112 % 112 % 115 %
Average NSFR (a)
 130 % 130 % 132 %
Book value per common share $ 57.36  $ 55.99  $ 51.52 
Tangible book value per common share – Non-GAAP (b)
 $ 31.64  $ 30.60  $ 27.05 
Common shares outstanding (in thousands)
 688,236  697,349  717,680 
(a)    Regulatory capital and liquidity ratios for Dec. 31, 2025 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024 was the Standardized Approach.
(b)    Tangible book value per common share – Non-GAAP excludes goodwill and intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for information on this Non-GAAP measure.


•CET1 capital totaled $21.1 billion and Tier 1 capital totaled $25.9 billion at Dec. 31, 2025. CET1 and Tier 1 capital increased compared with Sept. 30, 2025, primarily reflecting capital generated through earnings and a net increase in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends. The CET1 ratio increased compared with Sept. 30, 2025 reflecting the increase in capital, partially offset by higher risk-weighted assets. The Tier 1 leverage ratio decreased slightly compared with Sept. 30, 2025 reflecting higher average assets.


NET INTEREST INCOME

Net interest income 4Q25 vs.
(dollars in millions; not meaningful - N/M) 4Q25 3Q25 4Q24 3Q25 4Q24
Net interest income $ 1,346  $ 1,236  $ 1,194  9% 13%
Add: Tax equivalent adjustment —  —  1  N/M N/M
Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP (a)
 $ 1,346  $ 1,236  $ 1,195  9% 13%
Average interest-earning assets $ 387,289  $ 374,493  $ 357,768  3% 8%
Net interest margin 1.38 % 1.31 % 1.32 % 7   bps 6   bps
Net interest margin (FTE) – Non-GAAP (a)
 1.38 % 1.31 % 1.32 % 7   bps 6   bps
(a)    Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP include the tax equivalent adjustments on tax-exempt income. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 11 for information on this Non-GAAP measure.
bps – basis points.


•Net interest income increased year-over-year and sequentially primarily reflecting the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by deposit margin compression.

9
BNY 4Q25 Financial Results
THE BANK OF NEW YORK MELLON CORPORATION
Condensed Consolidated Income Statement

(dollars in millions) Quarter ended Year ended
Dec. 31, 2025 Sept. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024
Fee and other revenue
Investment services fees $ 2,632  $ 2,585  $ 2,438  $ 10,211  $ 9,419 
Investment management and performance fees 806  782  808  3,085  3,139 
Foreign exchange revenue 171  166  177  706  688 
Financing-related fees 53  67  53  231  216 
Distribution and servicing fees 36  37  37  146  158 
Total fee revenue 3,698  3,637  3,513  14,379  13,620 
Investment and other revenue 135  208  140  757  687 
Total fee and other revenue 3,833  3,845  3,653  15,136  14,307 
Net interest income
Interest income 6,307  6,594  6,467  25,626  25,607 
Interest expense 4,961  5,358  5,273  20,682  21,295 
Net interest income 1,346  1,236  1,194  4,944  4,312 
Total revenue 5,179  5,081  4,847  20,080  18,619 
Provision for credit losses (26) (7) 20  (32) 70 
Noninterest expense
Staff 1,812  1,745  1,817  7,159  7,130 
Software and equipment 565  542  520  2,147  1,962 
Professional, legal and other purchased services 429  404  410  1,587  1,503 
Sub-custodian and clearing 139  141  128  561  498 
Net occupancy 143  140  149  551  537 
Distribution and servicing 73  68  87  269  361 
Business development 71  45  54  217  188 
Bank assessment charges (22) 6  16  44  36 
Amortization of intangible assets 11  12  13  45  50 
Other 139  133  161  474  436 
Total noninterest expense 3,360  3,236  3,355  13,054  12,701 
Income
Income before taxes 1,845  1,852  1,472  7,058  5,848 
Provision for income taxes 376  395  315  1,475  1,305 
Net income 1,469  1,457  1,157  5,583  4,543 
Net (income) attributable to noncontrolling interests related to consolidated investment management funds (8) (12) (2) (34) (13)
Net income applicable to shareholders of The Bank of New York Mellon Corporation 1,461  1,445  1,155  5,549  4,530 
Preferred stock dividends (34) (106) (25) (243) (194)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation $ 1,427  $ 1,339  $ 1,130  $ 5,306  $ 4,336 


Earnings per share applicable to the common shareholders of The Bank of New York Mellon Corporation Quarter ended Year ended
Dec. 31, 2025 Sept. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024
(in dollars)
Basic $ 2.04  $ 1.90  $ 1.56  $ 7.47  $ 5.84 
Diluted $ 2.02  $ 1.88  $ 1.54  $ 7.40  $ 5.80 

10
BNY 4Q25 Financial Results
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES

BNY has included in this Earnings Release certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.

Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income which allows for the comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.

BNY has included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business segment relative to industry competitors.

See “Explanation of GAAP and Non-GAAP Financial Measures” in the Financial Supplement available at www.bny.com for additional reconciliations of Non-GAAP measures.

BNY has also included revenue measures excluding notable items, including disposal gains. Expense measures, excluding notable items, including severance expense, litigation reserves and the FDIC special assessment, are also presented. Litigation reserves represent accruals for loss contingencies that are both probable and reasonably estimable, but exclude standard business-related legal fees. Net income applicable to common shareholders of The Bank of New York Mellon Corporation, diluted earnings per share, operating leverage, return on common equity, return on tangible common equity and pre-tax operating margin, excluding the notable items mentioned above, are also provided. These measures are provided to permit investors to view the financial measures on a basis consistent with how management views the businesses.

Reconciliation of Non-GAAP measures, excluding notable items 4Q25 vs.
(dollars in millions, except per share amounts) 4Q25 3Q25 4Q24 3Q25 4Q24
Total revenue – GAAP $ 5,179  $ 5,081  $ 4,847  2 %      7 %
Less: Disposal gain (a)
 —  12  — 
Adjusted total revenue – Non-GAAP $ 5,179  $ 5,069  $ 4,847  2 %      7 %
Total noninterest expense – GAAP $ 3,360  $ 3,236  $ 3,355  4 %      — %     
Less: Severance expense (b)
 98  50  135 
Litigation reserves (b)
 3  3  38 
FDIC special assessment (b)
 (50) (14) (8)
Adjusted total noninterest expense – Non-GAAP $ 3,309  $ 3,197  $ 3,190  4 %      4 %
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $ 1,427  $ 1,339  $ 1,130  7 %      26 %
Less: Disposal gain (a)
 —  9  — 
Severance expense (b)
 (74) (39) (103)
Litigation reserves (b)
 (6) (2) (37)
FDIC special assessment (b)
 37  11  6 
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation – Non-GAAP $ 1,470  $ 1,360  $ 1,264  8 %      16 %
Diluted earnings per common share – GAAP $ 2.02  $ 1.88  $ 1.54  7 %      31 %
Less: Disposal gain (a)
 —  0.01  — 
Severance expense (b)
 (0.11) (0.05) (0.14)
Litigation reserves (b)
 (0.01) —  (0.05)
FDIC special assessment (b)
 0.05  0.01  0.01 
Total diluted earnings per common share impact of notable items (0.06) (c) (0.03) (0.18)
Adjusted diluted earnings per common share – Non-GAAP $ 2.08  $ 1.91  $ 1.72  9 %      21 %
Operating leverage – GAAP (d)
 (190)  bps 670  bps
Adjusted operating leverage – Non-GAAP (d)
 (133)  bps 312  bps
(a)    Reflected in Investment and other revenue.
(b)    Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively.
(c)    Does not foot due to rounding.
(d)    Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.
bps - basis points.
11
BNY 4Q25 Financial Results
Reconciliation of Non-GAAP measures, excluding notable items 2025 vs.
(dollars in millions, except per share amounts) 2025 2024 2024
Total revenue – GAAP $ 20,080  $ 18,619  8 %
Less: Disposal gain (a)
 52  — 
Adjusted total revenue – Non-GAAP $ 20,028  $ 18,619  8 %
Total noninterest expense – GAAP $ 13,054  $ 12,701  3 %
Less: Severance expense (b)
 214  240 
Litigation reserves (b)
 (8) 44 
FDIC special assessment (b)
 (64) (63)
Adjusted total noninterest expense – Non-GAAP $ 12,912  $ 12,480  3 %
Net income applicable to common shareholders of The Bank of New York Mellon
Corporation – GAAP		 $ 5,306  $ 4,336  22 %
Less: Disposal gain (a)
 41  — 
Severance expense (b)
 (165) (183)
Litigation reserves (b)
 7  (41)
FDIC special assessment (b)
 48  48 
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation – Non-GAAP $ 5,375  $ 4,512  19 %
Diluted earnings per share – GAAP $ 7.40  $ 5.80  28 %
Less: Disposal gain (a)
 0.06  — 
Severance expense (b)
 (0.23) (0.24)
Litigation reserves (b)
 0.01  (0.05)
FDIC special assessment (b)
 0.07  0.06 
Total diluted earnings per common share impact of notable items $ (0.10) (c) $ (0.23)
Adjusted diluted earnings per common share – Non-GAAP $ 7.50  $ 6.03  24 %
Operating leverage – GAAP (d)
 507  bps
Adjusted operating leverage – Non-GAAP (d)
 411  bps
(a)    Reflected in Investment and other revenue.
(b)    Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively.
(c)    Does not foot due to rounding.
(d)    Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.
bps – basis points


Pre-tax operating margin reconciliation
(dollars in millions) 4Q25 3Q25 4Q24 2025 2024
Income before taxes – GAAP $ 1,845  $ 1,852  $ 1,472  $ 7,058  $ 5,848 
Impact of notable items (a)
 (51) (27) (165) (90) (221)
Adjusted income before taxes, excluding notable items – Non-GAAP $ 1,896  $ 1,879  $ 1,637  $ 7,148  $ 6,069 
Total revenue – GAAP $ 5,179  $ 5,081  $ 4,847  $ 20,080  $ 18,619 
Impact of notable items (a)
 —  12  —  52  — 
Adjusted total revenue, excluding notable items – Non-GAAP $ 5,179  $ 5,069  $ 4,847  $ 20,028  $ 18,619 
Pre-tax operating margin – GAAP (b)
 36 % 36 % 30 % 35 % 31 %
Adjusted pre-tax operating margin – Non-GAAP (b)
 37 % 37 % 34 % 36 % 33 %
(a)    See page 11 for details of notable items and line items impacted.
(b)    Income before taxes divided by total revenue.


12
BNY 4Q25 Financial Results
Return on common equity and return on tangible common equity reconciliation
(dollars in millions) 4Q25 3Q25 4Q24 2025 2024
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $ 1,427  $ 1,339  $ 1,130  $ 5,306  $ 4,336 
Add: Amortization of intangible assets 11  12  13  45  50 
Less: Tax impact of amortization of intangible assets 3  3  3  11  12 
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP $ 1,435  $ 1,348  $ 1,140  $ 5,340  $ 4,374 
Impact of notable items (a)
 (43) (21) (134) (69) (176)
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets and notable items – Non-GAAP $ 1,478  $ 1,369  $ 1,274  $ 5,409  $ 4,550 
Average common shareholders’ equity $ 39,142  $ 38,626  $ 36,923  $ 38,167  $ 36,413 
Less: Average goodwill 16,777  16,787  16,515  16,733  16,316 
 Average intangible assets 2,827  2,842  2,846  2,842  2,839 
Add: Deferred tax liability – tax deductible goodwill 1,227  1,236  1,221  1,227  1,221 
 Deferred tax liability – intangible assets 662  665  665  662  665 
Average tangible common shareholders’ equity – Non-GAAP $ 21,427  $ 20,898  $ 19,448  $ 20,481  $ 19,144 
Return on common equity – GAAP (b)
 14.5 % 13.7 % 12.2 % 13.9 % 11.9 %
Adjusted return on common equity – Non-GAAP (b)
 14.9 % 14.0 % 13.6 % 14.1 % 12.4 %
Return on tangible common equity – Non-GAAP (b)
 26.6 % 25.6 % 23.3 % 26.1 % 22.8 %
Adjusted return on tangible common equity – Non-GAAP (b)
 27.4 % 26.0 % 26.1 % 26.4 % 23.8 %
(a)    See page 11 for details of notable items and line items impacted.
(b)    Returns are annualized.


CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

A number of statements in this Earnings Release and in our Financial Supplement may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about our strategic priorities, financial performance and financial targets. Preliminary business metrics and regulatory capital ratios are subject to change, possibly materially, as we complete our Annual Report on Form 10-K for the year ended Dec. 31, 2025. Forward-looking statements are not guarantees of future results or occurrences, are inherently uncertain and are based upon current beliefs and expectations of future events, many of which are, by their nature, difficult to predict, outside of our control and subject to change.

By identifying these statements for you in this manner, we are alerting you to the possibility that our actual results may differ, possibly materially, from the anticipated results expressed or implied in these forward-looking statements as a result of a number of important factors, including the risk factors and other uncertainties set forth in our Annual Report on Form 10-K for the year ended Dec. 31, 2024 and our other filings with the Securities and Exchange Commission.

You should not place undue reliance on any forward-looking statement. All forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

ABOUT BNY

BNY is a global financial services platforms company at the heart of the world’s capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of Dec. 31, 2025, BNY oversees $59.3 trillion in assets under custody and/or administration and $2.2 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.


13
BNY 4Q25 Financial Results
CONFERENCE CALL INFORMATION

Robin Vince, Chief Executive Officer, and Dermot McDonogh, Chief Financial Officer, will host a conference call and simultaneous live audio webcast at 11:00 a.m. ET on Jan. 13, 2026. This conference call and audio webcast will include forward-looking statements and may include other material information.

Investors and analysts wishing to access the conference call and audio webcast may do so by dialing +1 800 330-6730 (U.S.) or
+1 646 769-9500 (International), and using the passcode: 200200, or by logging onto www.bny.com/investorrelations. Earnings materials will be available at www.bny.com/investorrelations beginning at approximately 6:30 a.m. ET on Jan. 13, 2026.

An archived version of the fourth quarter conference call and audio webcast will be available beginning on Jan. 13, 2026 at approximately 3:00 p.m. ET through Feb. 13, 2026 at www.bny.com/investorrelations.
14
EX-99.2 3 ex992_financialsupplementx.htm FINANCIAL SUPPLEMENT Document


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The Bank of New York Mellon Corporation
Financial Supplement
Fourth Quarter 2025



Table of Contents
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Consolidated Results Page
Consolidated Financial Highlights
Condensed Consolidated Income Statement
Condensed Consolidated Balance Sheet
Fee and Other Revenue
Average Balances and Interest Rates
Capital and Liquidity
Business Segment Results
Securities Services Business Segment
Market and Wealth Services Business Segment
Investment and Wealth Management Business Segment
AUM by Product Type, Changes in AUM and Wealth Management Client Assets
Other Segment
Other
Securities Portfolio
Allowance for Credit Losses and Nonperforming Assets
Supplemental Information
Explanation of GAAP and Non-GAAP Financial Measures



THE BANK OF NEW YORK MELLON CORPORATION

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CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per common share amounts, or unless otherwise noted) 4Q25 vs. FY25 vs.
4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Selected income statement data
Fee and other revenue $ 3,833  $ 3,845  $ 3,825  $ 3,633  $ 3,653  — % 5 % $ 15,136  $ 14,307  6 %
Net interest income 1,346  1,236  1,203  1,159  1,194  9  13  4,944  4,312  15 
Total revenue 5,179  5,081  5,028  4,792  4,847  2  7  20,080  18,619  8 
Provision for credit losses (26) (7) (17) 18  20  N/M N/M (32) 70  N/M
Noninterest expense 3,360  3,236  3,206  3,252  3,355  4  —  13,054  12,701  3 
Income before income taxes 1,845  1,852  1,839  1,522  1,472  —  25  7,058  5,848  21 
Provision for income taxes 376  395  404  300  315  (5) 19  1,475  1,305  13 
Net income $ 1,469  $ 1,457  $ 1,435  $ 1,222  $ 1,157  1  % 27 % $ 5,583  $ 4,543  23 %
Net income applicable to common shareholders of The Bank of New York Mellon Corporation $ 1,427  $ 1,339  $ 1,391  $ 1,149  $ 1,130  7 % 26 % $ 5,306  $ 4,336  22 %
Diluted earnings per common share $ 2.02  $ 1.88  $ 1.93  $ 1.58  $ 1.54  7 % 31 % $ 7.40  $ 5.80  28 %
Average common shares and equivalents outstanding – diluted (in thousands)
 705,140  712,854  720,007  727,398  733,720  (1) % (4) % 716,718  748,101  (4) %
Financial ratios (Quarterly returns are annualized)
Pre-tax operating margin 36 % 36 % 37 % 32 % 30 % 35 % 31 %
Return on common equity 14.5 % 13.7 % 14.7 % 12.6 % 12.2 % 13.9 % 11.9 %
Return on tangible common equity – Non-GAAP (a)
 26.6 % 25.6 % 27.8 % 24.2 % 23.3 % 26.1 % 22.8 %
Non-U.S. revenue as a percentage of total revenue 36 % 35 % 36 % 33 % 35 % 35 % 35 %
Period end
Assets under custody and/or administration (“AUC/A”) (in trillions) (b)
 $ 59.3  $ 57.8  $ 55.8  $ 53.1  $ 52.1  3 % 14 %
Assets under management (“AUM”) (in trillions)
 $ 2.2  $ 2.1  $ 2.1  $ 2.0  $ 2.0  2 % 7 %
Full-time employees 48,100  49,200  49,900  51,000  51,800  (2) % (7) %
Book value per common share $ 57.36  $ 55.99  $ 54.76  $ 52.82  $ 51.52 
Tangible book value per common share – Non-GAAP (a)
 $ 31.64  $ 30.60  $ 29.57  $ 28.20  $ 27.05 
Cash dividends per common share $ 0.53  $ 0.53  $ 0.47  $ 0.47  $ 0.47 
Common dividend payout ratio 26 % 28 % 25 % 30 % 31 %
Closing stock price per common share $ 116.09  $ 108.96  $ 91.11  $ 83.87  $ 76.83 
Market capitalization $ 79,897  $ 75,983  $ 64,254  $ 60,003  $ 55,139 
Common shares outstanding (in thousands)
 688,236  697,349  705,241  715,434  717,680 
Capital ratios at period end (c)
Common Equity Tier 1 (“CET1”) ratio 11.9 % 11.7 % 11.5 % 11.5 % 11.2 %
Tier 1 capital ratio 14.6 % 14.4 % 14.5 % 14.6 % 13.7 %
Total capital ratio 15.4 % 15.3 % 15.5 % 15.7 % 14.8 %
Tier 1 leverage ratio 6.0 % 6.1 % 6.1 % 6.2 % 5.7 %
Supplementary leverage ratio (“SLR”) 6.7 % 6.7 % 6.9 % 6.9 % 6.5 %
(a) Non-GAAP information, for all periods presented, excludes goodwill and intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of Non-GAAP measures.
(b) Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.2 trillion at Dec. 31, 2025, $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025 and $1.8 trillion at Dec. 31, 2024.
(c) Regulatory capital ratios for Dec. 31, 2025 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for the periods presented, was the Standardized Approach.
N/M – Not meaningful.
3


THE BANK OF NEW YORK MELLON CORPORATION
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CONDENSED CONSOLIDATED INCOME STATEMENT
(dollars in millions, except per share amounts; common shares in thousands) 4Q25 vs. FY25 vs.
4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Revenue
Investment services fees $ 2,632  $ 2,585  $ 2,583  $ 2,411  $ 2,438  2 % 8 % $ 10,211  $ 9,419  8 %
Investment management and performance fees 806  782  758  739  808  3  —  3,085  3,139  (2)
Foreign exchange revenue 171  166  213  156  177  3  (3) 706  688  3 
Financing-related fees 53  67  51  60  53  (21) —  231  216  7 
Distribution and servicing fees 36  37  36  37  37  (3) (3) 146  158  (8)
Total fee revenue 3,698  3,637  3,641  3,403  3,513  2  5  14,379  13,620  6 
Investment and other revenue 135  208  184  230  140  N/M N/M 757  687  N/M
Total fee and other revenue 3,833  3,845  3,825  3,633  3,653  —  5  15,136  14,307  6 
Net interest income 1,346  1,236  1,203  1,159  1,194  9  13  4,944  4,312  15 
Total revenue 5,179  5,081  5,028  4,792  4,847  2  7  20,080  18,619  8 
Provision for credit losses (26) (7) (17) 18  20  N/M N/M (32) 70  N/M
Noninterest expense
Staff 1,812  1,745  1,768  1,834  1,817  4  —  7,159  7,130  — 
Software and equipment 565  542  527  513  520  4  9  2,147  1,962  9 
Professional, legal and other purchased services 429  404  388  366  410  6  5  1,587  1,503  6 
Sub-custodian and clearing 139  141  150  131  128  (1) 9  561  498  13 
Net occupancy 143  140  132  136  149  2  (4) 551  537  3 
Distribution and servicing 73  68  63  65  87  7  (16) 269  361  (25)
Business development 71  45  53  48  54  58  31  217  188  15 
Bank assessment charges (22) 6  22  38  16  N/M N/M 44  36  N/M
Amortization of intangible assets 11  12  11  11  13  (8) (15) 45  50  (10)
Other 139  133  92  110  161  5  (14) 474  436  9 
Total noninterest expense 3,360  3,236  3,206  3,252  3,355  4  —  13,054  12,701  3 
Income before income taxes 1,845  1,852  1,839  1,522  1,472  —  25  7,058  5,848  21 
Provision for income taxes 376  395  404  300  315  (5) 19  1,475  1,305  13 
Net income 1,469  1,457  1,435  1,222  1,157  1  27  5,583  4,543  23 
Net (income) attributable to noncontrolling interests (8) (12) (12) (2) (2) N/M N/M (34) (13) N/M
Preferred stock dividends (34) (106) (32) (71) (25) N/M N/M (243) (194) N/M
Net income applicable to common shareholders of The Bank of New York Mellon Corporation $ 1,427  $ 1,339  $ 1,391  $ 1,149  $ 1,130  7 % 26 % $ 5,306  $ 4,336  22 %
Average common shares and equivalents outstanding: Basic 697,540  705,873  714,799  720,951  726,568  (1) % (4) % 710,177  742,588  (4) %
Diluted 705,140  712,854  720,007  727,398  733,720  (1) % (4) % 716,718  748,101  (4) %
Earnings per common share: Basic $ 2.04  $ 1.90  $ 1.95  $ 1.59  $ 1.56  7 % 31 % $ 7.47  $ 5.84  28 %
Diluted $ 2.02  $ 1.88  $ 1.93  $ 1.58  $ 1.54  7 % 31 % $ 7.40  $ 5.80  28 %
N/M – Not meaningful.
4


THE BANK OF NEW YORK MELLON CORPORATION
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CONDENSED CONSOLIDATED BALANCE SHEET
2025 2024
(dollars in millions) Dec. 31 Sept. 30 June 30 March 31 Dec. 31
Assets
Cash and due from banks $ 5,111  $ 5,055  $ 5,699  $ 5,354  $ 4,178 
Interest-bearing deposits with the Federal Reserve and other central banks 116,009  106,368  135,602  102,303  89,546 
Interest-bearing deposits with banks 10,397  11,027  12,069  11,945  9,612 
Federal funds sold and securities purchased under resale agreements 44,892  41,863  45,547  41,316  41,146 
Securities 150,200  149,528  147,068  145,385  136,627 
Trading assets 14,276  13,625  12,610  11,978  13,981 
Loans 80,615  75,195  73,096  71,404  71,570 
Allowance for loan losses (245) (272) (275) (295) (294)
Net loans
 80,370  74,923  72,821  71,109  71,276 
Premises and equipment 3,581  3,549  3,289  3,257  3,266 
Accrued interest receivable 1,435  1,426  1,348  1,302  1,293 
Goodwill 16,767  16,773  16,823  16,661  16,598 
Intangible assets 2,822  2,834  2,849  2,846  2,851 
Other assets 26,440  28,341  30,056  27,235  25,690 
Total assets
$ 472,300  $ 455,312  $ 485,781  $ 440,691  $ 416,064 
Liabilities
Deposits $ 331,894  $ 314,697  $ 346,393  $ 308,644  $ 289,524 
Federal funds purchased and securities sold under repurchase agreements 18,992  16,585  15,492  15,663  14,064 
Trading liabilities 6,135  3,499  6,134  4,580  4,865 
Payables to customers and broker-dealers 21,872  23,638  21,273  22,244  20,073 
Commercial paper 2,003  2,364  2,361  1,662  301 
Other borrowed funds 422  283  293  212  225 
Accrued taxes and other expenses 5,544  4,920  4,634  4,438  5,270 
Other liabilities 8,757  12,678  11,233  8,756  9,124 
Long-term debt 31,873  32,287  33,429  30,869  30,854 
Total liabilities
427,492  410,951  441,242  397,068  374,300 
Temporary equity
Redeemable noncontrolling interests 87  111  111  94  87 
Permanent equity
Preferred stock 4,836  4,836  5,331  5,331  4,343 
Common stock 14  14  14  14  14 
Additional paid-in capital 29,907  29,795  29,659  29,535  29,321 
Retained earnings 46,396  45,346  44,388  43,343  42,537 
Accumulated other comprehensive loss, net of tax (3,035) (3,362) (3,549) (4,115) (4,656)
Less: Treasury stock, at cost
 (33,805) (32,750) (31,893) (30,989) (30,241)
Total The Bank of New York Mellon Corporation shareholders’ equity 44,313  43,879  43,950  43,119  41,318 
Nonredeemable noncontrolling interests of consolidated investment management funds
408  371  478  410  359 
Total permanent equity
44,721  44,250  44,428  43,529  41,677 
Total liabilities, temporary equity and permanent equity
$ 472,300  $ 455,312  $ 485,781  $ 440,691  $ 416,064 
5


THE BANK OF NEW YORK MELLON CORPORATION
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FEE AND OTHER REVENUE
4Q25 vs. FY25 vs.
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Investment services fees $ 2,632  $ 2,585  $ 2,583  $ 2,411  $ 2,438  2 % 8 % $ 10,211  $ 9,419  8 %
Investment management and performance fees:
Investment management fees (a)
 792  776  748  734  788  2 1 3,050  3,088  (1)
Performance fees 14  6  10  5  20  N/M N/M 35  51  N/M
Total investment management and performance fees (b)
 806  782  758  739  808  3 — 3,085  3,139  (2)
Foreign exchange revenue 171  166  213  156  177  3 (3) 706  688  3
Financing-related fees 53  67  51  60  53  (21) —  231  216  7
Distribution and servicing fees 36  37  36  37  37  (3) (3) 146  158  (8)
Total fee revenue 3,698  3,637  3,641  3,403  3,513  2 5 14,379  13,620  6
Investment and other revenue:
Income (loss) from consolidated investment management funds 19  23  35  6  (5) N/M N/M 83  46  N/M
Seed capital gains (losses) (c)
 4  8  8  (6) 3  N/M N/M 14  20  N/M
Other trading revenue 76  73  59  71  89  N/M N/M 279  314  N/M
Renewable energy investment gains 6  19  15  15  5  N/M N/M 55  25  N/M
Corporate/bank-owned life insurance 51  41  35  38  47  N/M N/M 165  137  N/M
Other investments (losses) gains (d)
 (43) 7  26  24  8  N/M N/M 14  67  N/M
Disposal gains —  12  —  40  —  N/M N/M 52  —  N/M
Expense reimbursements from joint venture 35  36  34  31  29  N/M N/M 136  118  N/M
Other income 2  19  7  11  14  N/M N/M 39  45  N/M
Net securities (losses) (15) (30) (35) —  (50) N/M N/M (80) (85) N/M
Total investment and other revenue 135  208  184  230  140  N/M N/M 757  687  N/M
Total fee and other revenue $ 3,833  $ 3,845  $ 3,825  $ 3,633  $ 3,653  — % 5 % $ 15,136  $ 14,307  6 %
(a) Excludes seed capital gains (losses) related to consolidated investment management funds.
(b) On a constant currency basis, investment management and performance fees decreased 1% (Non-GAAP) compared with 4Q24. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(c) Includes gains (losses) on investments in BNY funds which hedge deferred incentive awards.
(d) Includes strategic equity, private equity and other investments.
N/M – Not meaningful.

6


THE BANK OF NEW YORK MELLON CORPORATION
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AVERAGE BALANCES AND INTEREST RATES
4Q25 3Q25 2Q25 1Q25 4Q24
Average balance Average rate Average balance Average rate Average balance Average rate Average balance Average rate Average balance Average rate
(dollars in millions; average rates are annualized)
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks $ 97,489  3.38 % $ 94,533  3.69 % $ 99,426  3.73 % $ 86,038  3.84 % $ 94,337  4.18 %
Interest-bearing deposits with banks 11,440  2.53  10,980  2.97  11,199  3.10  10,083  3.39  10,479  3.54 
Federal funds sold and securities purchased under resale agreements 43,363  26.99  (a) 40,885  30.66  (a) 39,522  32.23  (a) 41,166  28.79  (a) 37,939  31.22  (a)
Loans 76,678  5.46  72,692  5.80  71,265  5.81  69,670  5.80  69,211  6.17 
Securities:
U.S. government obligations 33,726  3.49  31,754  3.59  29,279  3.63  26,614  3.49  27,223  3.47 
U.S. government agency obligations 61,578  3.29  61,174  3.40  62,874  3.36  63,514  3.27  63,166  3.31 
Other securities 55,119  3.54  54,986  3.61  54,610  3.58  51,403  3.62  49,675  3.76 
Total investment securities 150,423  3.43  147,914  3.52  146,763  3.49  141,531  3.44  140,064  3.50 
Trading securities (b)
 7,896  4.82  7,489  5.02  7,367  4.84  6,199  5.29  5,738  6.13 
Total securities (b)
 158,319  3.50  155,403  3.59  154,130  3.56  147,730  3.52  145,802  3.61 
Total interest-earning assets (b)
 $ 387,289  6.46 % $ 374,493  6.98 % $ 375,542  7.03 % $ 354,687  6.97 % $ 357,768  7.18 %
Noninterest-earning assets 63,924  62,998  63,066  61,157  62,576 
Total assets $ 451,213  $ 437,491  $ 438,608  $ 415,844  $ 420,344 
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits $ 258,640  2.58 % $ 248,016  2.90 % $ 250,688  2.95 % $ 234,394  2.98 % $ 235,281  3.27 %
Federal funds purchased and securities sold under repurchase agreements 18,105  57.66  (a) 16,242  69.11  (a) 17,485  65.95  (a) 17,566  60.25  (a) 17,599  60.52  (a)
Trading liabilities 2,839  4.03  3,333  4.40  2,821  4.94  2,063  4.56  1,887  4.61 
Other borrowed funds 339  4.57  243  4.63  432  5.06  288  5.93  484  2.32 
Commercial paper 2,310  4.32  3,268  4.63  2,511  4.56  1,279  4.51  2,336  4.83 
Payables to customers and broker-dealers 16,764  4.02  16,434  4.34  15,494  4.19  15,142  4.21  13,672  4.77 
Long-term debt 32,135  5.09  32,503  5.53  31,805  5.64  31,216  5.57  31,506  5.58 
Total interest-bearing liabilities $ 331,132  5.94 % $ 320,039  6.64 % $ 321,236  6.74 % $ 301,948  6.66 % $ 302,765  6.92 %
Total noninterest-bearing deposits 51,842  51,310  49,610  48,141  51,207 
Other noninterest-bearing liabilities 23,858  21,674  24,073  23,808  24,790 
Total The Bank of New York Mellon Corporation shareholders’ equity 43,978  43,974  43,223  41,542  41,266 
Noncontrolling interests 403  494  466  405  316 
Total liabilities and equity $ 451,213  $ 437,491  $ 438,608  $ 415,844  $ 420,344 
Net interest margin 1.38 % 1.31 % 1.27 % 1.30 % 1.32 %
Net interest margin (FTE) – Non-GAAP (c)
 1.38 % 1.31 % 1.27 % 1.30 % 1.32 %
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $242 billion for 4Q25, $241 billion for 3Q25, $247 billion for 2Q25, $224 billion for 1Q25 and $208 billion for 4Q24. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 4.11% for 4Q25, 4.45% for 3Q25, 4.45% for 2Q25, 4.46% for 1Q25 and 4.82% for 4Q24. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 4.02% for 4Q25, 4.36% for 3Q25, 4.36% for 2Q25, 4.37% for 1Q25 and 4.73% for 4Q24. We believe providing the rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.
(b) Average rates were calculated on an FTE basis, at tax rates of approximately 21%.
(c) See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
7


THE BANK OF NEW YORK MELLON CORPORATION
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CAPITAL AND LIQUIDITY
2025 2024
(dollars in millions) Dec. 31 Sept. 30 June 30 March 31 Dec. 31
Consolidated regulatory capital ratios: (a)
Standardized Approach:
CET1 capital $ 21,087  $ 20,645  $ 20,149  $ 19,505  $ 18,759 
Tier 1 capital 25,910  25,471  25,472  24,783  23,039 
Total capital 27,391  27,079  27,243  26,581  24,818 
Risk-weighted assets 177,588  176,432  175,668  169,262  167,786 
CET1 ratio 11.9 % 11.7 % 11.5 % 11.5 % 11.2 %
Tier 1 capital ratio 14.6  14.4  14.5  14.6  13.7 
Total capital ratio 15.4  15.3  15.5  15.7  14.8 
Advanced Approaches:
CET1 capital $ 21,087  $ 20,645  $ 20,149  $ 19,505  $ 18,759 
Tier 1 capital 25,910  25,471  25,472  24,783  23,039 
Total capital 27,047  26,734  26,897  26,246  24,535 
Risk-weighted assets 162,959  168,841  168,748  162,234  160,472 
CET1 ratio 12.9 % 12.2 % 11.9 % 12.0 % 11.7 %
Tier 1 capital ratio 15.9  15.1  15.1  15.3  14.4 
Total capital ratio 16.6  15.8  15.9  16.2  15.3 
Tier 1 leverage ratio: (a)
Average assets for Tier 1 leverage ratio $ 432,804  $ 419,077  $ 420,131  $ 397,513  $ 402,069 
Tier 1 leverage ratio 6.0 % 6.1 % 6.1 % 6.2 % 5.7 %
SLR: (a)
Leverage exposure $ 388,733  $ 377,728  $ 369,838  $ 359,666  $ 353,523 
SLR 6.7 % 6.7 % 6.9 % 6.9 % 6.5 %
Average liquidity coverage ratio (a)
 112 % 112 % 112 % 116 % 115 %
Average net stable funding ratio (a)
 130 % 130 % 131 % 132 % 132 %
(a) Regulatory capital and liquidity ratios for Dec. 31, 2025 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for the periods presented, was the Standardized Approach.
8


THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES SERVICES BUSINESS SEGMENT
4Q25 vs. FY25 vs.
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Revenue:
Investment services fees:
Asset Servicing $ 1,159  $ 1,141  $ 1,094  $ 1,062  $ 1,042  2 % 11 % $ 4,456  $ 4,094  9 %
Issuer Services 331  313  376  267  295  6  12  1,287  1,163  11 
Total investment services fees 1,490  1,454  1,470  1,329  1,337  2  11  5,743  5,257  9 
Foreign exchange revenue 142  143  175  136  147  (1) (3) 596  552  8 
Other fees (a)
 68  73  60  65  62  (7) 10  266  234  14 
Total fee revenue 1,700  1,670  1,705  1,530  1,546  2  10  6,605  6,043  9 
Investment and other revenue 62  119  94  140  97  N/M N/M 415  405  N/M
Total fee and other revenue 1,762  1,789  1,799  1,670  1,643  (2) 7  7,020  6,448  9 
Net interest income 735  670  675  630  681  10  8  2,710  2,468  10 
Total revenue 2,497  2,459  2,474  2,300  2,324  2  7  9,730  8,916  9 
Provision for credit losses (13) (3) (13) 8  15  N/M N/M (21) 38  N/M
Noninterest expense (ex. amortization of intangible assets) 1,665  1,649  1,613  1,578  1,659  1  —  6,505  6,286  3 
Amortization of intangible assets 7  7  7  6  7  —  —  27  28  (4)
Total noninterest expense 1,672  1,656  1,620  1,584  1,666  1  —  6,532  6,314  3 
Income before income taxes $ 838  $ 806  $ 867  $ 708  $ 643  4 % 30 % $ 3,219  $ 2,564  26 %
Total revenue by line of business:
Asset Servicing $ 1,945  $ 1,915  $ 1,870  $ 1,786  $ 1,797  2 % 8 % $ 7,516  $ 6,872  9 %
Issuer Services 552  544  604  514  527  1  5  2,214  2,044  8 
Total revenue by line of business $ 2,497  $ 2,459  $ 2,474  $ 2,300  $ 2,324  2 % 7 % $ 9,730  $ 8,916  9 %
Financial ratios:
Pre-tax operating margin 34 % 33 % 35 % 31 % 28 % 33 % 29 %
Memo: Securities lending revenue (b)
 $ 69  $ 62  $ 56  $ 52  $ 52  11 % 33 % $ 239  $ 191  25 %
(a) Other fees primarily include financing-related fees.
(b) Included in investment services fees reported in the Asset Servicing line of business.
N/M – Not meaningful.
9


THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES SERVICES BUSINESS SEGMENT
4Q25 vs. FY25 vs.
(dollars in millions, unless otherwise noted) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Selected balance sheet data:
Average loans $ 11,439  $ 10,706  $ 11,327  $ 11,347  $ 11,553  7 % (1) % $ 11,204  $ 11,235  — %
Average assets (a)
 $ 212,227  $ 202,454  $ 206,552  $ 194,901  $ 200,277  5 % 6 % $ 204,077  $ 196,740  4 %
Average deposits $ 192,796  $ 183,081  $ 185,831  $ 175,854  $ 180,843  5 % 7 % $ 184,433  $ 178,643  3 %
Selected metrics:
AUC/A at period end (in trillions) (b)(c)
 $ 43.0  $ 41.7  $ 40.1  $ 38.1  $ 37.7  3 % 14 % $ 43.0  $ 37.7  14 %
Market value of securities on loan at period end (in billions) (d)
 $ 604  $ 554  $ 516  $ 504  $ 488  9 % 24 % $ 604  $ 488  24 %
Issuer Services
Total debt serviced at period end (in trillions)
 $ 14.8  $ 14.5  $ 14.3  $ 13.9  $ 14.1  2 % 5 % $ 14.8  $ 14.1  5 %
Number of Depositary Receipts programs at period end (e)
 1,614  1,601  1,568  1,576  1,576  1 % 2 % 1,614  1,576  2 %
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Dec. 31, 2025 information is preliminary.
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $2.2 trillion at Dec. 31, 2025, $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025 and $1.8 trillion at Dec. 31, 2024.
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $74 billion at Dec. 31, 2025, $81 billion at Sept. 30, 2025, $68 billion at June 30, 2025, $62 billion at March 31, 2025 and $60 billion at Dec. 31, 2024.
(e) Beginning in 4Q25, the previously reported metric for the Issuer Services line of business, Number of sponsored Depositary Receipts programs, has been replaced with a new metric, Number of Depositary Receipts programs.
10


THE BANK OF NEW YORK MELLON CORPORATION
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MARKET AND WEALTH SERVICES BUSINESS SEGMENT
4Q25 vs. FY25 vs.
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Revenue:
Investment services fees:
Pershing $ 505  $ 508  $ 513  $ 503  $ 516  (1) % (2) % $ 2,029  $ 1,947  4 %
Payments and Trade (a)
 212  214  209  209  206  (1) 3  844  792  7 
Clearance and Collateral Management 417  398  385  362  364  5  15  1,562  1,385  13 
Total investment services fees 1,134  1,120  1,107  1,074  1,086  1  4  4,435  4,124  8 
Foreign exchange revenue 28  31  30  29  27  (10) 4  118  97  22 
Other fees (b)
 65  70  63  65  61  (7) 7  263  235  12 
Total fee revenue 1,227  1,221  1,200  1,168  1,174  —  5  4,816  4,456  8 
Investment and other revenue 9  22  36  21  19  N/M N/M 88  79  N/M
Total fee and other revenue 1,236  1,243  1,236  1,189  1,193  (1) 4  4,904  4,535  8 
Net interest income 569  524  506  497  474  9  20  2,096  1,729  21 
Total revenue 1,805  1,767  1,742  1,686  1,667  2  8  7,000  6,264  12 
Provision for credit losses (7) (3) (6) 4  9  N/M N/M (12) 19  N/M
Noninterest expense (ex. amortization of intangible assets) 929  894  897  865  851  4  9  3,585  3,349  7 
Amortization of intangible assets 1  1  —  1  1  —  —  3  4  (25)
Total noninterest expense 930  895  897  866  852  4  9  3,588  3,353  7 
Income before income taxes $ 882  $ 875  $ 851  $ 816  $ 806  1 % 9 % $ 3,424  $ 2,892  18 %
Total revenue by line of business:
Pershing $ 741  $ 729  $ 739  $ 719  $ 705  2 % 5 % $ 2,928  $ 2,687  9 %
Payments and Trade (a)
 524  510  490  477  471  3  11  2,001  1,737  15 
Clearance and Collateral Management 540  528  513  490  491  2  10  2,071  1,840  13 
Total revenue by line of business $ 1,805  $ 1,767  $ 1,742  $ 1,686  $ 1,667  2 % 8 % $ 7,000  $ 6,264  12 %
Financial ratios:
Pre-tax operating margin 49 % 50 % 49 % 48 % 48 % 49 % 46 %
(a) Formerly Treasury Services.
(b) Other fees primarily include financing-related fees.
N/M – Not meaningful.

11


THE BANK OF NEW YORK MELLON CORPORATION
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MARKET AND WEALTH SERVICES BUSINESS SEGMENT
4Q25 vs. FY25 vs.
(dollars in millions, unless otherwise noted) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Selected balance sheet data:
Average loans $ 49,613  $ 46,278  $ 44,262  $ 42,986  $ 42,217  7 % 18 % $ 45,804  $ 41,533  10 %
Average assets (a)
 $ 144,606  $ 137,103  $ 135,119  $ 129,244  $ 126,919  5 % 14 % $ 136,561  $ 124,448  10 %
Average deposits $ 101,751  $ 97,497  $ 96,566  $ 91,905  $ 90,980  4 % 12 % $ 96,958  $ 90,185  8 %
Selected metrics:
AUC/A at period end (in trillions) (b)(c)
 $ 15.9  $ 15.8  $ 15.4  $ 14.7  $ 14.1  1 % 13 % $ 15.9  $ 14.1  13 %
Pershing
AUC/A at period end (in trillions) (b)
 $ 3.0  $ 3.0  $ 2.8  $ 2.7  $ 2.7  — % 11 % $ 3.0  $ 2.7  11 %
Net new assets (U.S. platform) (in billions) (d)
 $ 51  $ 3  $ (10) $ 11  $ 41  N/M N/M $ 55  $ (6) N/M
Daily average revenue trades (“DARTs”) (U.S. platform) (in thousands)
 285  269  334  298  254  6 % 12 % 296  269  10 %
Average active clearing accounts (in thousands)
 8,487  8,387  8,405  8,406  8,260  1 % 3 % 8,421  8,098  4 %
Payments and Trade (e)
Average daily U.S. dollar payment volumes 258,080  246,286  246,250  244,673  250,714  5 % 3 % 248,808  242,997  2 %
Clearance and Collateral Management
Average collateral balances (in billions)
 $ 7,453  $ 7,275  $ 7,061  $ 6,576  $ 6,463  2 % 15 % $ 7,091  $ 6,217  14 %
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Dec. 31, 2025 information is preliminary.
(c) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.
(d) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer.
(e) Formerly Treasury Services.
N/M – Not meaningful.
12


THE BANK OF NEW YORK MELLON CORPORATION
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INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT
4Q25 vs. FY25 vs.
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
Revenue:
Investment management fees (a)
 $ 793  $ 776  $ 748  $ 735  $ 789  2 % 1 % $ 3,052  $ 3,093  (1) %
Performance fees 14  6  10  5  20  N/M N/M 35  51  N/M
Investment management and performance fees (b)
 807  782  758  740  809  3  —  3,087  3,144  (2)
Distribution and servicing fees 69  69  69  68  68  —  1  275  275  — 
Other fees (c)
(84) (78) (76) (75) (64) N/M N/M (313) (256) N/M
Total fee revenue 792  773  751  733  813  2  (3) 3,049  3,163  (4)
Investment and other revenue (d)
 11  10  9  5  13  N/M N/M 35  50  N/M
Total fee and other revenue (d)
 803  783  760  738  826  3  (3) 3,084  3,213  (4)
Net interest income 51  41  41  41  47  24  9  174  176  (1)
Total revenue 854  824  801  779  873  4  (2) 3,258  3,389  (4)
Provision for credit losses 3  —  —  2  —  N/M N/M 5  4  N/M
Noninterest expense (ex. amortization of intangible assets) (a)
 700  636  649  710  695  10  1  2,695  2,762  (2)
Amortization of intangible assets 3  4  4  4  5  (25) (40) 15  18  (17)
Total noninterest expense 703  640  653  714  700  10  —  2,710  2,780  (3)
Income before income taxes $ 148  $ 184  $ 148  $ 63  $ 173  (20) % (14) % $ 543  $ 605  (10) %
Total revenue by line of business:
Investment Management (a)(e)
 $ 577  $ 559  $ 543  $ 518  $ 598  3 % (4) % $ 2,197  $ 2,330  (6) %
Wealth Management (e)
 277  265  258  261  275  5  1  1,061  1,059  — 
Total revenue by line of business $ 854  $ 824  $ 801  $ 779  $ 873  4 % (2) % $ 3,258  $ 3,389  (4) %
Financial ratios:
Pre-tax operating margin 17 % 22 % 19 % 8 % 20 % 17 % 18 %
Adjusted pre-tax operating margin – Non-GAAP (f)
 19 % 24 % 20 % 9 % 22 % 18 % 20 %
Selected balance sheet data:
Average loans $ 13,931  $ 14,143  $ 13,991  $ 13,537  $ 13,718  (1) % 2 % $ 13,902  $ 13,610  2 %
Average assets (g)
 $ 26,948  $ 27,247  $ 27,114  $ 26,402  $ 26,706  (1) % 1 % $ 26,930  $ 26,385  2 %
Average deposits $ 9,453  $ 9,201  $ 9,216  $ 9,917  $ 9,967  3 % (5) % $ 9,445  $ 10,589  (11) %
(a) Effective 1Q25, an adjustment for certain rebates, which were previously recorded as distribution and servicing expense, began to be reflected as a reduction of investment management fees. These amounts totaled approximately $20 million for all quarterly periods presented and impacted the year-over-year variances for investment management fees and related revenue subtotals, noninterest expense and Investment Management total revenue in the table above.
(b) On a constant currency basis, investment management and performance fees decreased 1% (Non-GAAP) compared with 4Q24. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(c) Other fees primarily include investment services fees.
(d) Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.
(e) In 4Q25, the prior period total revenue by line of business for Investment Management and Wealth Management was revised for comparability to reflect the movement of certain fixed income investment management business from Wealth Management to Investment Management. There was no impact to total revenue reported for the Investment and Wealth Management business segment or on a consolidated basis.
(f) Net of distribution and servicing expense. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(g) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
N/M – Not meaningful.
13


THE BANK OF NEW YORK MELLON CORPORATION
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AUM BY PRODUCT TYPE, CHANGES IN AUM AND WEALTH MANAGEMENT CLIENT ASSETS
4Q25 vs. FY25 vs.
(dollars in billions) 4Q25 3Q25 2Q25 1Q25 4Q24 3Q25 4Q24 FY25 FY24 FY24
AUM by product type: (a)(b)
Equity $ 179  $ 180  $ 168  $ 156  $ 162  (1) % 10 %
Fixed income 262  257  248  234  221  2  19 
Index 517  512  488  470  491  1  5 
Liability-driven investments 539  537  588  549  548  —  (2)
Multi-asset and alternative investments 186  181  173  167  171  3  9 
Cash 495  475  441  432  436  4  14 
Total AUM $ 2,178  $ 2,142  $ 2,106  $ 2,008  $ 2,029  2 % 7 %
Changes in AUM: (a)(b)
Beginning balance of AUM $ 2,142  $ 2,106  $ 2,008  $ 2,029  $ 2,144  $ 2,029  $ 1,974 
Net inflows (outflows):
Long-term strategies:
Equity (4) (8) (3) (3) (5) (18) (15)
Fixed income 5  7  5  2  (2) 19  18 
Liability-driven investments (15) (23) —  1  (11) (37) 2 
Multi-asset and alternative investments (1) (1) (4) (2) (2) (8) (15)
Total long-term active strategies (outflows) inflows (15) (25) (2) (2) (20) (44) (10)
Index (8) (8) (22) (11) (7) (49) (42)
Total long-term strategies (outflows) (23) (33) (24) (13) (27) (93) (52)
Short-term strategies:
Cash 20  34  7  (5) 12  56  45 
Total net (outflows) inflows (3) 1  (17) (18) (15) (37) (7)
Net market impact 40  30  70  (25) (45) 115  69 
Net currency impact (1) (10) 45  22  (55) 56  (25)
Other —  15  (c) —  —  —  15  (c) 18  (d)
Ending balance of AUM $ 2,178  $ 2,142  $ 2,106  $ 2,008  $ 2,029  2 % 7 % $ 2,178  $ 2,029  7 %
Wealth Management client assets (a)(e)
 $ 350  $ 348  $ 339  $ 327  $ 327  1 % 7 %
(a) Dec. 31, 2025 information is preliminary.
(b) Represents assets managed in the Investment and Wealth Management business segment.
(c) Reflects a change in methodology beginning in the third quarter of 2025 to include assets under advisement.
(d) Reflects the realignment of similar products and services within our lines of business. Refer to Form 8-K dated March 26, 2024 for further information.
(e) Includes AUM and AUC/A in the Wealth Management line of business.
14


THE BANK OF NEW YORK MELLON CORPORATION
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OTHER SEGMENT
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 FY25 FY24
Revenue:
Fee revenue $ (21) $ (27) $ (15) $ (28) $ (20) $ (91) $ (42)
Investment and other revenue 45  45  33  62  9  185  140 
Total fee and other revenue 24  18  18  34  (11) 94  98 
Net interest (expense) income (9) 1  (19) (9) (8) (36) (61)
Total revenue 15  19  (1) 25  (19) 58  37 
Provision for credit losses (9) (1) 2  4  (4) (4) 9 
Noninterest expense 55  45  36  88  137  224  254 
(Loss) before income taxes $ (31) $ (25) $ (39) $ (67) $ (152) $ (162) $ (226)
Selected balance sheet data:
Average loans and leases $ 1,695  $ 1,565  $ 1,685  $ 1,800  $ 1,723  $ 1,686  $ 1,763 
Average assets $ 67,432  $ 70,687  $ 69,823  $ 65,297  $ 66,442  $ 68,323  $ 65,761 
15


THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES PORTFOLIO
(dollars in millions) Sept. 30, 2025 4Q25
change in
unrealized
gain (loss)		 Dec. 31, 2025
Fair value
as a % of amortized
cost (a)
 Unrealized
 (loss)
% Floating
rate (b)
Ratings (c)
Amortized
cost (a)
 Fair value AAA/
AA-		 A+/
A-		 BBB+/
BBB-		 BB+ and
lower		 Not
rated
 Fair value
Agency RMBS $ 44,964  $ 353  $ 47,696  $ 45,383  95 % $ (2,313) 14 % 100 % — % — % — % — %
Non-U.S. government (d)
 34,314  68  34,247  34,224  100  (23) 22  84  16  —  —  — 
U.S. Treasury 32,839  146  33,451  33,386  100  (65) 33  100  —  —  —  — 
Agency commercial MBS 9,666  43  9,828  9,600  98  (228) 44  100  —  —  —  — 
Foreign covered bonds
 8,499  (4) 8,824  8,806  100  (18) 35  100  —  —  —  — 
CLOs 8,097  (4) 7,958  7,958  100  —  100  100  —  —  —  — 
U.S. government agencies
 4,095  28  4,195  4,029  96  (166) 27  100  —  —  —  — 
Non-agency commercial MBS
 2,210  11  2,280  2,196  96  (84) 46  100  —  —  —  — 
Non-agency RMBS 1,407  15  1,629  1,515  93  (114) 46  100  —  —  —  — 
Other asset-backed securities
 402  3  397  376  95  (21) 21  100  —  —  —  — 
Other debt securities 10  —  11  10  91  (1) —  —  —  —  —  100 
Total securities $ 146,503  $ 659  $ 150,516  $ 147,483  (e) 98 % $ (3,033) (f) 29 % 96 % 4 % — % — % — %
(a) Amortized cost includes the impact of hedged item basis adjustments, which was a net decrease of $910 million, and is net of allowance for credit losses.
(b) Includes the impact of hedges.
(c) Represents ratings by S&P, or the equivalent.
(d) Includes supranational securities.
(e) The fair value of available-for-sale securities totaled $102,106 million at Dec. 31, 2025, or 69% of the securities portfolio. The fair value of the held-to-maturity securities totaled $45,377 million at Dec. 31, 2025, or 31% of the securities portfolio.
(f) At Dec. 31, 2025, includes a pre-tax net unrealized loss of $316 million related to available-for-sale securities, net of hedges, and $2,717 million related to held-to-maturity securities. The after-tax unrealized loss, net of hedges, related to available-for-sale securities was $241 million and the after-tax unrealized loss related to held-to-maturity securities was $2,072 million.
Note: At Dec. 31, 2025, the accretable discount relating to securities was $1,979 million. Including the discontinued hedges, net accretion was $116 million in 4Q25.
16


THE BANK OF NEW YORK MELLON CORPORATION
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ALLOWANCE FOR CREDIT LOSSES AND NONPERFORMING ASSETS
2025 2024
(dollars in millions) Dec. 31 Sept. 30 June 30 March 31 Dec. 31
Allowance for credit losses – beginning of period:
Allowance for loan losses $ 272  $ 275  $ 295  $ 294  $ 296 
Allowance for lending-related commitments 63  70  75  72  75 
Allowance for other financial instruments (a)
 33  34  31  26  30 
Allowance for credit losses – beginning of period $ 368  $ 379  $ 401  $ 392  $ 401 
Net (charge-offs) recoveries:
Charge-offs —  (5) (10) (10) (30)
Recoveries 2  1  5  1  1 
Total net recoveries (charge-offs) 2  (4) (5) (9) (29)
Provision for credit losses (b)
 (26) (7) (17) 18  20 
Allowance for credit losses – end of period $ 344  $ 368  $ 379  $ 401  $ 392 
Allowance for credit losses – end of period:
Allowance for loan losses $ 245  $ 272  $ 275  $ 295  $ 294 
Allowance for lending-related commitments 74  63  70  75  72 
Allowance for other financial instruments (a)
 25  33  34  31  26 
Allowance for credit losses – end of period $ 344  $ 368  $ 379  $ 401  $ 392 
Allowance for loan losses as a percentage of total loans 0.30 % 0.36 % 0.38 % 0.41 % 0.41 %
Nonperforming assets $ 143  $ 160  $ 161  $ 213  $ 179 
(a) Includes allowance for credit losses on federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities, accounts receivable, cash and due from banks and interest-bearing deposits with banks.
(b) Includes all instruments within the scope of ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.
17


THE BANK OF NEW YORK MELLON CORPORATION
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EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
BNY has included in this Financial Supplement certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.
Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income which allows for the comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.
BNY has also included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business segment relative to industry competitors.
The presentation of the growth rates of investment management and performance fees on a constant currency basis permits investors to assess the significance of changes in foreign currency exchange rates. Growth rates on a constant currency basis were determined by applying the current period foreign currency exchange rates to the prior period revenue. We believe that this presentation, as a supplement to GAAP information, gives investors a clearer picture of the related revenue results without the variability caused by fluctuations in foreign currency exchange rates.
Notes:
Quarterly returns on common and tangible common equity ratios are annualized.
Return on common equity and tangible common equity reconciliation
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 FY25 FY24
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $ 1,427  $ 1,339  $ 1,391  $ 1,149  $ 1,130  $ 5,306  $ 4,336 
Add: Amortization of intangible assets 11  12  11  11  13  45  50 
Less: Tax impact of amortization of intangible assets 3  3  2  3  3  11  12 
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP $ 1,435  $ 1,348  $ 1,400  $ 1,157  $ 1,140  $ 5,340  $ 4,374 
Average common shareholders’ equity $ 39,142  $ 38,626  $ 37,892  $ 36,980  $ 36,923  $ 38,167  $ 36,413 
Less: Average goodwill 16,777  16,787  16,748  16,615  16,515  16,733  16,316 
 Average intangible assets 2,827  2,842  2,850  2,849  2,846  2,842  2,839 
Add: Deferred tax liability – tax deductible goodwill 1,227  1,236  1,236  1,226  1,221  1,227  1,221 
 Deferred tax liability – intangible assets 662  665  668  666  665  662  665 
Average tangible common shareholders’ equity – Non-GAAP $ 21,427  $ 20,898  $ 20,198  $ 19,408  $ 19,448  $ 20,481  $ 19,144 
Return on common equity – GAAP 14.5 % 13.7 % 14.7 % 12.6 % 12.2 % 13.9 % 11.9 %
Return on tangible common equity – Non-GAAP 26.6 % 25.6 % 27.8 % 24.2 % 23.3 % 26.1 % 22.8 %
18


THE BANK OF NEW YORK MELLON CORPORATION
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EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Book value and tangible book value per common share reconciliation 2025 2024
(dollars in millions, except common shares and unless otherwise noted) Dec. 31 Sept. 30 June 30 March 31 Dec. 31
The Bank of New York Mellon Corporation shareholders’ equity at period end – GAAP $ 44,313  $ 43,879  $ 43,950  $ 43,119  $ 41,318 
Less: Preferred stock 4,836  4,836  5,331  5,331  4,343 
The Bank of New York Mellon Corporation common shareholders’ equity at period end – GAAP 39,477  39,043  38,619  37,788  36,975 
Less: Goodwill 16,767  16,773  16,823  16,661  16,598 
Intangible assets 2,822  2,834  2,849  2,846  2,851 
Add: Deferred tax liability – tax deductible goodwill 1,227  1,236  1,236  1,226  1,221 
Deferred tax liability – intangible assets 662  665  668  666  665 
The Bank of New York Mellon Corporation tangible common shareholders’ equity at period end – Non-GAAP $ 21,777  $ 21,337  $ 20,851  $ 20,173  $ 19,412 
Period-end common shares outstanding (in thousands)
 688,236  697,349  705,241  715,434  717,680 
Book value per common share – GAAP $ 57.36  $ 55.99  $ 54.76  $ 52.82  $ 51.52 
Tangible book value per common share – Non-GAAP $ 31.64  $ 30.60  $ 29.57  $ 28.20  $ 27.05 
Net interest margin reconciliation
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24
Net interest income – GAAP $ 1,346  $ 1,236  $ 1,203  $ 1,159  $ 1,194 
Add: Tax equivalent adjustment —  —  1  —  1 
Net interest income (FTE) – Non-GAAP $ 1,346  $ 1,236  $ 1,204  $ 1,159  $ 1,195 
Average interest-earning assets $ 387,289  $ 374,493  $ 375,542  $ 354,687  $ 357,768 
Net interest margin – GAAP (a)
 1.38 % 1.31 % 1.27 % 1.30 % 1.32 %
Net interest margin (FTE) – Non-GAAP (a)
 1.38 % 1.31 % 1.27 % 1.30 % 1.32 %
(a) Net interest margin is annualized.
19


THE BANK OF NEW YORK MELLON CORPORATION
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EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Pre-tax operating margin reconciliation - Investment and Wealth Management business segment
(dollars in millions) 4Q25 3Q25 2Q25 1Q25 4Q24 FY25 FY24
Income before income taxes – GAAP $ 148  $ 184  $ 148  $ 63  $ 173  $ 543  $ 605 
Total revenue – GAAP $ 854  $ 824  $ 801  $ 779  $ 873  $ 3,258  $ 3,389 
Less: Distribution and servicing expense 74  68  64  65  88  271  363 
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP $ 780  $ 756  $ 737  $ 714  $ 785  $ 2,987  $ 3,026 
Pre-tax operating margin – GAAP (a)
 17 % 22 % 19 % 8 % 20 % 17 % 18 %
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (a)
 19 % 24 % 20 % 9 % 22 % 18 % 20 %
(a) Income before income taxes divided by total revenue.
Constant currency reconciliations 4Q25 vs.
(dollars in millions) 4Q25 4Q24 4Q24
Consolidated:
Investment management and performance fees – GAAP $ 806  $ 808  — %
Impact of changes in foreign currency exchange rates —  9 
Adjusted investment management and performance fees – Non-GAAP $ 806  $ 817  (1) %
Investment and Wealth Management business segment:
Investment management and performance fees – GAAP $ 807  $ 809  — %
Impact of changes in foreign currency exchange rates —  9 
Adjusted investment management and performance fees – Non-GAAP $ 807  $ 818  (1) %
20
EX-99.3 4 ex993_quarterlyupdatepre.htm QUARTERLY UPDATE PRESENTATION ex993_quarterlyupdatepre
4Q25 January 13, 2026 QUARTERLY UPDATE

 
2 AGENDA PAGE 1 Strategic Update 3 2 Financial Update 11 3 Financial Outlook 21 4 Appendix 24

 
3 • Record Financial Results: – Revenue of $20.1bn up 8% YoY – Pre-tax income of $7.1bn up 21% YoY – Net income of $5.3bn up 22% YoY – EPS of $7.40 up 28% YoY; up 24%(c) excluding notable items • Improved Efficiency: – 4 consecutive quarters of positive operating leverage in 2025 and 8 consecutive quarters of positive operating leverage overall(a) – Pre-tax margin of 35% improved 4%-pts YoY • Improved Profitability: – ROE of 13.9% improved 2.0%-pts YoY – ROTCE of 26.1%(b) improved 3.3%-pts YoY • Attractive Capital Returns: – 94% total payout ratio for full-year 2025 – Increased quarterly dividend by 13% in 3Q25 2025 Financial Highlights 94% Revenue: Pre-tax Margin: Total Payout Ratio: + 8% 35% ROTCE(b): 26% + 3%Expenses: (a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Represents a non-GAAP measure. See page 30 in the Appendix for the corresponding reconciliation of the non-GAAP measure of EPS excluding notable items. Note: Above comparisons are 2025 vs. 2024, unless otherwise noted. Operating Leverage(a): 507 bps + 28%EPS:

 
4 • Record sales performance for the year • Growing number of multi-product client relationships • Successful new client acquisition • Continued investments in our new commercial model including senior talent across target countries and client segments, training and tooling Strong Execution on Strategic Priorities in 2025 Execution momentum reinforced by positive feedback loop of continuous actions driving tangible results • Launched Eliza 2.0, BNY’s AI platform; 99% of employees on Eliza • 160 enterprise AI solutions in production and 134 digital employees live • Formed several partnerships with AI industry and academia • >60 AI-related patent applications • Scaling governance for responsible use of AI • >70% of employees working in the new platforms operating model as of year-end 2025 – Transitioned ~50% of employees in 2025 • Generated ~$550mm of efficiency savings • ~$500mm of incremental investments in new client solutions, technology and our people • Hired the company’s first Chief Product and Innovation Officer and created a new product and innovation organization • Delivered several new client solutions and numerous micro-innovations • Solidified leadership in Digital Assets through multiple product launches and client mandates – E.g., stablecoin reserve custody, BNY Dreyfus Stablecoin Reserves Fund, tokenized money market funds etc. Serving our clients as One BNY Embracing AI Unlocking scale and growth across our platforms Innovating new products and solutions

 
5 • Implemented rigorous strategic, operational and financial reviews • Established strategic pillars and principles, created platforms operating model and new commercial organization and model • Increased investments in our culture and people, and technology • Transformed executive leadership team and established next generation of leaders • Reduced NII interest rate sensitivity • Executed “Project Catalyst” efficiency program and instilled an owner mentality • Completed several small divestitures and the acquisition of Archer • Created product and innovation organization, launched AI Hub and Eliza AI platform • Refreshed the BNY brand • Set and exceeded medium-term financial targets for phase 1 PHASE 1: Setting our Foundation Over the Past 3 Years We Set the Foundation of Our Transformation Strategic execution with attention to detail and a long-term mindset (a) 2023-2025 Medium-term Long-term

 
6 Debt Instrument Issuance Traditional Fund Services NAV Alternatives Fund Services NAV Custody Trade Settlement 2022 2023 2024 2025 0% 0% 2% 3% 2022 2023 2024 2025 24 30 40 160 134 2022 2023 2024 2025 Operations Productivity Enterprise AI Solutions and Digital Employees Full-time Employees Execution Enables Enhanced Business and Operating Performance... Business and operating performance metrics demonstrate the effectiveness of BNY’s strategic transformation agenda NII Sensitivity to Changes in Interest Rates(b)Organic Fee Growth(a) Deeper Client Relationships Up 100 bps rate shock vs. baseline Down 100 bps rate shock vs. baseline 51,700 53,400 51,800 48,100 2022 2023 2024 2025 2023 2024 2025 64% Number of clients who bought from ≥3 businesses Change in average unit cost (2025 vs. 2024) for select operations processes (15)% (24)% 6% (8)% 6% (8)% 3% (4)% 1% (3)% AI Solutions Digital Employees 28% 28% CAGR = (2)% (6)% (19)% Note: See page 28 in the Appendix for corresponding footnotes.

 
7 21.1 29.5 24.2 30.431.4 32.635.1 35.7 Reported Adjusted 16.5 17.017.7 17.818.6 18.620.1 20.0 Reported Adjusted 13.0 12.013.3 12.312.7 12.513.1 12.9 Reported Adjusted 3.5 5.04.3 5.45.8 6.17.1 7.1 Reported Adjusted 13.4 21.1 16.8 21.822.8 23.826.1 26.4 Reported Adjusted 2.88 4.57 3.89 5.07 5.80 6.03 7.40 7.50 Reported Adjusted j t (a) rt j t (a) rt j t (a) Pre-tax Margin (%) ROTCE (%) EPS ...Leading to Strong Financial Results over Medium- and Long-term... Continuous execution and focus on positive operating leverage have started to deliver improved financial results Revenue ($bn) Expenses ($bn) Pre-tax Income ($bn) (a) Represents a non-GAAP measure. See pages 29 through 33 in the Appendix for the corresponding reconciliations of these non-GAAP measures excluding notable items. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. 2022 2023 2024 2025 2022 2023 2024 2025 CAGR = 7% CAGR = 6% CAGR = 0% CAGR = 3% 2022 2023 2024 2025 CAGR = 27% CAGR = 13% 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 CAGR = 37% (b) CAGR = 18% rt (a) (a) (a)

 
8 2% 27% 13% (24) 38 659 301 1% 1% 7% 6% Reported Adjusted 1% 1% 0% 3% Reported Adjusted 28% 30%30% 33% Reported Adjusted 4% 7% 37% 18% Reported Adjusted Adjusted Pre-tax Margin Pre-tax Income EPS …Meaningfully Differentiated from Past Financial Performance Consistent discipline and clear intent result in differentiated financial performance from the prior decade Revenue Expenses Operating Leverage (bps) (a) Represents a non-GAAP measure. See pages 29 through 36 in the Appendix for the corresponding reconciliation of these non-GAAP measures excluding notable items. (b) Operating leverage in the reflected time periods is the increase (decrease) of the compound annual growth rate for total revenue less the increase (decrease) of the compound annual growth rate for total noninterest expense. 2012-2022 CAGR 2022-2025 CAGR 2012-2022 CAGR 2022-2025 CAGR 2012-2022 2022-2025 Reported 2012-2022 Annual Average 2023-2025 Annual Average 2012-2022 CAGR 2022-2025 CAGR 2012-2022 CAGR 2022-2025 CAGR (b) (b) 0% j t (a) rt j t (a) j st (a)rt (a) Reported Adjusted(a) (a)

 
9 • Complete company-wide transition into the platforms operating model and mature in the model • Reach maturity in the new commercial model • Scale integrated, multi-platform client solutions • Advance global financial markets and infrastructure with distributed ledger and other technologies • AI for everyone, everything, everywhere – scaling organizational intelligence with enterprise and partner agents and unlocking capacity at scale with digital employees • Further improve efficiency and profitability through continued commitment to positive operating leverage We are Embarking on Our Next Phase with Strong Momentum Foundational work continues while we increasingly scale our platforms and growth ambitions to drive competitive advantages 2023-202520 3-20 5 Medium-term Long-term PHASE 2: Scaling our Platforms and Growth Ambitions

 
10 AGENDA PAGE 1 Strategic Update 3 2 Financial Update 11 3 Financial Outlook 21 4 Appendix 24

 
11 • Revenue Growth: Revenue of $5.2bn up 7% YoY • Expense Discipline: Expense of $3.4bn flat YoY; up 4%(a) excluding notable items • Margin Expansion: – 670 bps of operating leverage(c) – Pre-tax margin of 36% up 5%-pts YoY; 37%(a) excluding notable items, up 3%-pts YoY • Improved Profitability: – ROE of 14.5% up 2.3%-pts YoY – ROTCE(b) of 26.6% up 3.3%-pts YoY • EPS Growth: EPS of $2.02 up 31% YoY; up 21%(a) excluding notable items • Attractive Capital Returns: Returned $1.4bn to common shareholders, including $377mm of dividends and $1.0bn of share repurchases 4Q25 Financial Highlights + 21% Revenue: + 7% 37% ROTCE(b): 27% Tier 1 Leverage: 6.0% + 4% Adj. Pre-tax Margin(a): Adj. EPS(a): Adj. Expenses(a): (a) Represents a non-GAAP measure. See page 30 in the Appendix for the corresponding reconciliation of the non-GAAP measures excluding notable items. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. Note: Above comparisons are 4Q25 vs. 4Q24, unless otherwise noted.

 
12 4Q25 vs. $mm, except per share data or unless otherwise noted 4Q25 3Q25 4Q24 3Q25 4Q24 Income Statement Investment services fees $2,632 $2,585 $2,438 2% 8% Investment management and performance fees 806 782 808 3 — Foreign exchange revenue 171 166 177 3 (3) Other fee revenue 89 104 90 (14) (1) Total fee revenue $3,698 $3,637 $3,513 2% 5% Investment and other revenue 135 208 140 N/M N/M Net interest income 1,346 1,236 1,194 9 13 Total revenue $5,179 $5,081 $4,847 2% 7% Provision for credit losses (26) (7) 20 N/M N/M Noninterest expense 3,360 3,236 3,355 4 — Income before income taxes $1,845 $1,852 $1,472 —% 25%   Net income applicable to common shareholders $1,427 $1,339 $1,130 7% 26% Avg. common shares and equivalents outstanding (mm) - diluted 705 713 734 (1)% (4)% EPS $2.02 $1.88 $1.54 7% 31%   Key Performance Indicators Operating leverage(a) (190) bps 670 bps Pre-tax margin 36% 36% 30% ROE 14.5% 13.7% 12.2% ROTCE(b) 26.6% 25.6% 23.3% Non-GAAP measures, excluding notable items(c) Adjusted total revenue $5,179 $5,069 $4,847 2% 7% Adjusted noninterest expense 3,309 3,197 3,190 4 4 Adjusted EPS 2.08 1.91 1.72 9 21 Adjusted operating leverage (133) bps 312 bps Adjusted pre-tax margin 37% 37% 34% Adjusted ROTCE 27.4% 26.0% 26.1%   4Q25 Financial Results (a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Each of the below line items represents a non-GAAP measure. See pages 29 and 30 in the Appendix for the corresponding reconciliations of these non-GAAP measures excluding notable items. N/M – not meaningful.

 
13 2025 vs. $mm, except per share data or unless otherwise noted 2025 2024 2024 Income Statement Investment services fees $10,211 $9,419 8% Investment management and performance fees 3,085 3,139 (2) Foreign exchange revenue 706 688 3 Other fee revenue 377 374 1 Total fee revenue $14,379 $13,620 6% Investment and other revenue 757 687 N/M Net interest income 4,944 4,312 15 Total revenue $20,080 $18,619 8% Provision for credit losses (32) 70 N/M Noninterest expense 13,054 12,701 3 Income before income taxes $7,058 $5,848 21%   Net income applicable to common shareholders $5,306 $4,336 22% Avg. common shares and equivalents outstanding (mm) - diluted 717 748 (4)% EPS $7.40 $5.80 28%   Key Performance Indicators Operating leverage(a) 507 bps Pre-tax margin 35% 31% ROE 13.9% 11.9% ROTCE(b) 26.1% 22.8% Non-GAAP measures, excluding notable items(c) Adjusted total revenue $20,028 $18,619 8% Adjusted noninterest expense 12,912 12,480 3% Adjusted EPS 7.50 6.03 24% Adjusted operating leverage 411 bps Adjusted pre-tax margin 36% 33% Adjusted ROTCE 26.4% 23.8%   2025 Financial Results (a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Each of the below line items represents a non-GAAP measure. See pages 29 and 30 in the Appendix for the corresponding reconciliations of these non-GAAP measures excluding notable items. N/M – not meaningful.

 
14     4Q25 3Q25 4Q24   Consolidated regulatory capital ratios(a)   Tier 1 capital ($mm) $25,910 $25,471 $23,039 Average assets for Tier 1 leverage ratio ($mm) 432,804 419,077 402,069 Tier 1 leverage ratio 6.0% 6.1% 5.7% Common Equity Tier 1 ("CET1") capital ($mm) $21,087 $20,645 $18,759 Risk-weighted assets ($mm) 177,588 176,432 167,786 CET1 ratio 11.9% 11.7% 11.2% Supplementary leverage ratio ("SLR") 6.7% 6.7% 6.5%                 Consolidated regulatory liquidity ratios(a)   Liquidity coverage ratio ("LCR") 112% 112% 115% Net stable funding ratio ("NSFR") 130% 130% 132%                 Capital returns Cash dividends per common share $0.53 $0.53 $0.47 Common stock dividends ($mm) $377 $381 $349 Common stock repurchases ($mm) 1,045 849 750 Total capital return ($mm) $1,422 $1,230 $1,099 Total payout ratio 100% 92% 97% Profitability ROE 14.5% 13.7% 12.2% ROTCE(b) 26.6% 25.6% 23.3% Adjusted ROTCE(c) 27.4% 26.0% 26.1%   Capital and Liquidity CAPITAL • Tier 1 leverage ratio of 6.0% down 9bps QoQ – Tier 1 capital of $25.9bn increased $439mm QoQ, primarily reflecting capital generated through earnings and a net increase in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends – Average assets for Tier 1 leverage ratio of $432.8bn increased $13.7bn QoQ • CET1 ratio of 11.9% up 17bps QoQ – CET1 capital of $21.1bn increased $442mm QoQ, primarily reflecting capital generated through earnings and a net increase in accumulated other comprehensive income, partially offset by capital returned through common stock repurchases and dividends – RWA of $177.6bn increased by $1.2bn QoQ LIQUIDITY • LCR of 112% flat QoQ • NSFR of 130% flat QoQ (a) Note: See page 28 in the Appendix for corresponding footnote. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE. (c) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE excluding notable items.

 
15 1,194 1,159 1,203 1,236 1,346 4Q24 1Q25 2Q25 3Q25 4Q25 4Q25 vs.   4Q25   3Q25   4Q24   Total assets $451 3% 7% Total interest-earning assets $387 3% 8% Cash and reverse repo 152 4 7 Loans 77 5 11 Investment securities 150 2 7 Noninterest-bearing $52 1% 1% Interest-bearing 259 4 10 Total deposits $310 4% 8%                Net Interest Income and Balance Sheet Trends Net Interest Income ($mm) 1.32% 1.30% 1.27% 1.31% 1.38% 4Q24 1Q25 2Q25 3Q25 4Q25 Net Interest Margin Balance Sheet Trends ($bn, average) • Net interest income of $1,346mm up 13% YoY and up 9% QoQ – QoQ increase primarily reflecting the continued reinvestment of maturing investment securities at higher yields and balance sheet growth, partially offset by deposit margin compression • Net interest margin of 1.38% up 6 bps YoY and up 7 bps QoQ • Avg. total deposits of $310bn up 8% YoY and up 4% QoQ

 
16 4Q25 vs. $mm, unless otherwise noted 4Q25 3Q25 4Q24 Asset Servicing $1,159 2% 11% Issuer Services 331 6 12 Total investment services fees $1,490 2% 11% Foreign exchange revenue 142 (1) (3) Other fees(a) 68 (7) 10 Investment and other revenue 62 N/M N/M Net interest income 735 10 8 Total revenue $2,497 2% 7% Provision for credit losses (13) N/M N/M Noninterest expense 1,672 1 — Income before income taxes $838 4% 30%                 $bn, unless otherwise noted 4Q25 3Q25 4Q24 Pre-tax margin 34% 33% 28% Assets under custody and/or administration ("AUC/A")(trn) $43.0 $41.7 $37.7 Deposits (average) $193 $183 $181 Issuer Services Total debt serviced (trn) $14.8 $14.5 $14.1 Number of Depositary Receipts programs(d) 1,614 1,601 1,576                 Securities Services Select Income Statement Data Note: See page 28 in the Appendix for corresponding footnotes. N/M – not meaningful. Select Income Statement Data Key Performance Indicators (b)(c) • Total revenue of $2,497mm up 7% YoY – Investment services fees up 11% YoY > Asset Servicing up 11% YoY, primarily reflecting higher client activity and market values > Issuer Services up 12% YoY, primarily reflecting higher Depositary Receipts fees – Foreign exchange revenue down 3% YoY – Net interest income up 8% YoY • Noninterest expense of $1,672mm flat YoY, reflecting higher investments, revenue-related expenses, employee merit increases and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings and lower litigation reserves • Income before income taxes of $838mm up 30% YoY

 
17 4Q25 vs. $mm, unless otherwise noted 4Q25 3Q25 4Q24 Pershing $505 (1)% (2)% Clearance and Collateral Management 417 5 15 Payments and Trade(a) 212 (1) 3 Total investment services fees $1,134 1% 4% Foreign exchange revenue 28 (10) 4 Other fees(b) 65 (7) 7 Investment and other revenue 9 N/M N/M Net interest income 569 9 20 Total revenue $1,805 2% 8% Provision for credit losses (7) N/M N/M Noninterest expense 930 4 9 Income before income taxes $882 1% 9%                 $bn, unless otherwise noted 4Q25 3Q25 4Q24 Pre-tax margin 49% 50% 48% AUC/A (trn)(c)(d) $15.9 $15.8 $14.1 Deposits (average) $102 $97 $91 Pershing AUC/A (trn)(c) $3.0 $3.0 $2.7 Net new assets (U.S. platform)(e) 51 3 41 Daily average revenue trades ("DARTs") (U.S. platform) ('000) 285 269 254 Average active clearing accounts ('000) 8,487 8,387 8,260 Payments and Trade U.S. dollar payment volumes (daily average) 258,080 246,286 250,714 Clearance and Collateral Management Average collateral balances $7,453 $7,275 $6,463                 Market and Wealth Services Select Income Statement Data Key Performance Indicators Select Income Statement Data • Total revenue of $1,805mm up 8% YoY – Investment services fees up 4% YoY > Pershing down 2% YoY, primarily reflecting lower client activity, partially offset by higher market values > Clearance and Collateral Management up 15% YoY, primarily reflecting higher collateral management balances and clearance volumes > Payments and Trade up 3% YoY, primarily reflecting net new business – Foreign exchange revenue up 4% YoY – Net interest income up 20% YoY • Noninterest expense of $930mm up 9% YoY, primarily reflecting higher investments and revenue-related expenses, employee merit increases and higher severance expense, partially offset by efficiency savings • Income before income taxes of $882mm up 9% YoY Note: See page 28 in the Appendix for corresponding footnotes. N/M – not meaningful.

 
18 4Q25 vs. $mm, unless otherwise noted 4Q25 3Q25 4Q24 Investment management fees(a) $793 2% 1% Performance fees 14 N/M N/M Distribution and servicing fees 69 — 1 Other fees(b) (84) N/M N/M Investment and other revenue(c) 11 N/M N/M Net interest income 51 24 9 Total revenue $854 4% (2)% Provision for credit losses 3 N/M N/M Noninterest expense(a) 703 10 — Income before income taxes $148 (20)% (14)% Total revenue by line of business: Investment Management(a)(d) $577 3% (4)% Wealth Management(d) 277 5 1 Total revenue $854 4% (2)%                 $bn, unless otherwise noted 4Q25 3Q25 4Q24 Pre-tax margin 17% 22% 20% Deposits (average) $9 $9 $10 Assets under management ("AUM")(e) $2,178 $2,142 $2,029 Long-term active strategies net flows $(15) $(25) $(20) Index net flows (8) (8) (7) Short-term strategies net flows 20 34 12 Total net flows $(3) $1 $(15) Wealth Management Client assets(f) $350 $348 $327                 Investment and Wealth Management Select Income Statement Data Key Performance Indicators Select Income Statement Data • Total revenue of $854mm down 2% YoY – Investment Management down 4% YoY, primarily reflecting the mix of AUM flows and the adjustment for certain rebates (offset in noninterest expense)(a), partially offset by higher market values and the favorable impact of the weaker U.S. dollar – Wealth Management up 1% YoY • Noninterest expense of $703mm flat YoY, primarily reflecting higher investments and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings • Income before income taxes of $148mm down 14% YoY • AUM of $2.2trn up 7% YoY, primarily reflecting higher market values and the favorable impact of the weaker U.S. dollar, partially offset by cumulative net outflows • Wealth Management client assets of $350bn up 7% YoY, primarily reflecting higher market values, partially offset by cumulative net outflows (a) Effective 1Q25, an adjustment for certain rebates, which were previously recorded as distribution and servicing expense, began to be reflected as a reduction of investment management fees. These amounts totaled approximately $20 million llllllfor all periods presented and impacted the year-over-year variances for investment management fees and related revenue subtotals, noninterest expense and Investment Management total revenue in the table above. Note: See page 28 in the Appendix for corresponding footnotes. N/M – not meaningful. (a)

 
19 $mm, unless otherwise noted 4Q25 3Q25 4Q24 Fee revenue $(21) $(27) $(20) Investment and other revenue 45 45 9 Net interest income (expense) (9) 1 (8) Total revenue $15 $19 $(19) Provision for credit losses (9) (1) (4) Noninterest expense 55 45 137 (Loss) before income taxes $(31) $(25) $(152)                 Other Segment Select Income Statement Data • Total revenue includes corporate treasury and other investment activity, including hedging activity which has an offsetting impact between fee and other revenue and net interest expense – YoY increase was primarily driven by lower net securities losses • Noninterest expense decreased YoY, primarily driven by lower severance expense and the net impact of the adjustments for the FDIC special assessment Select Income Statement Data

 
20 AGENDA PAGE 1 Strategic Update 3 2 Financial Update 11 3 Financial Outlook 21 4 Appendix 24

 
21 >100 bpsOperating Leverage Up 3–4% YoY $20,028mm $12,912mm Up 5% +/- YoY • Market-implied forward interest rates • Reinvestment yields exceeding runoff yields • Incremental investments • Higher revenue-related expenses • Efficiency savings Total Revenue (excluding notable items) Expenses (excluding notable items) 2026 Financial Outlook Determined to deliver our fourth consecutive year of positive operating leverage 2025 BASIS 2026 OUTLOOK KEY ASSUMPTIONS (a) Note: 2026 financial outlook based on market-implied forward interest rates as of year-end 2025. Assumes equity and fixed income market values over the course of 2026 unchanged from values as of December 31, 2025. (b) Represents a non-GAAP measure. See page 30 in the Appendix for the corresponding reconciliation of these non-GAAP measures excluding notable items. (c) Represents a forward-looking non-GAAP financial measure. See "Cautionary Statement" on page 37 for information regarding forward-looking non-GAAP financial measures. (d) Operating leverage is the rate of increase (decrease) in total revenue growth less the rate of increase (decrease) in total noninterest expense growth. (b) (a)(c) (c) (d) -o f yields • Higher organic growth • Higher average equity and fixed income market values, in-line with 2025 exit (b)

 
22 30% ≥33% 2024 MEDIUM-TERM TARGETS ≥23% 38% +/- Pre-tax Margin (excluding notable items) Enhanced Medium-term Financial Targets Execution to date and transformation programs underway position BNY for continued operating leverage over the medium-term ROTCE (excluding notable items) NEW MEDIUM-TERM TARGETS Note: Medium-term refers to a 3-5 year horizon. Medium-term targets for Tier 1 leverage ratio and CET1 ratio unchanged at 5.5-6% and ~11%, respectively. (a) Represents a non-GAAP measure. See pages 33 in the Appendix for the corresponding reconciliations of the non-GAAP measure of pre-tax margin excluding notable items. (b) Represents a non-GAAP measure. See page 29 in the Appendix for the corresponding reconciliation of the non-GAAP measure of ROTCE excluding notables. (c) Represents a forward-looking non-GAAP financial measure. See "Cautionary Statement" on page 37 for information regarding forward-looking non-GAAP financial measures. 28% +/- 2023 ACTUALS 22% (a) (c) (b) (c)

 
23 AGENDA PAGE 1 Strategic Update 3 2 Financial Update 11 3 Financial Outlook 21 4 Appendix 24

 
24 2025 vs. $mm, unless otherwise noted 2025 2024 Asset Servicing $4,456 9% Issuer Services 1,287 11 Total investment services fees $5,743 9% Foreign exchange revenue 596 8 Other fees(a) 266 14 Investment and other revenue 415 N/M Net interest income 2,710 10 Total revenue $9,730 9% Provision for credit losses (21) N/M Noninterest expense 6,532 3 Income before income taxes $3,219 26%             $bn, unless otherwise noted 2025 2024 Pre-tax margin 33% 29% Assets under custody and/or administration ("AUC/A")(trn) $43.0 $37.7 Deposits (average) $184 $179 Issuer Services Total debt serviced (trn) $14.8 $14.1 Number of Depositary Receipts programs(d) 1,614 1,576             Securities Services Select Income Statement Data Note: See page 28 in the Appendix for corresponding footnotes. N/M – not meaningful. Select Income Statement Data Key Performance Indicators (b)(c) • Total revenue of $9.7bn up 9% YoY – Investment services fees up 9% YoY > Asset Servicing up 9% YoY, primarily reflecting higher client activity and market values and net new business > Issuer Services up 11% YoY, primarily reflecting higher Depositary Receipts fees – Foreign exchange revenue up 8% YoY – Net interest income up 10% YoY • Noninterest expense of $6.5bn up 3% YoY, reflecting higher investments, revenue-related expenses, employee merit increases and the unfavorable impact of the weaker U.S. dollar, partially offset by efficiency savings • Income before income taxes of $3.2bn up 26% YoY

 
25 2025 vs. $mm, unless otherwise noted 2025 2024 Pershing $2,029 4% Clearance and Collateral Management 1,562 13 Payments and Trade(a) 844 7 Total investment services fees $4,435 8% Foreign exchange revenue 118 22 Other fees(b) 263 12 Investment and other revenue 88 N/M Net interest income 2,096 21 Total revenue $7,000 12% Provision for credit losses (12) N/M Noninterest expense 3,588 7 Income before income taxes $3,424 18%             $bn, unless otherwise noted 2025 2024 Pre-tax margin 49% 46% AUC/A (trn)(c)(d) $15.9 $14.1 Deposits (average) $97 $90 Pershing AUC/A (trn)(c) $3.0 $2.7 Net new assets (U.S. platform)(e) 55 (6) Daily average revenue trades ("DARTs") (U.S. platform) ('000) 296 269 Average active clearing accounts ('000) 8,421 8,098 Payments and Trade U.S. dollar payment volumes (daily average) 248,808 242,997 Clearance and Collateral Management Average collateral balances $7,091 $6,217             Market and Wealth Services Select Income Statement Data Key Performance Indicators Select Income Statement Data • Total revenue of $7.0bn up 12% YoY – Investment services fees up 8% YoY > Pershing up 4% YoY, primarily reflecting higher market values and client activity > Clearance and Collateral Management up 13% YoY, primarily reflecting higher collateral management balances and clearance volumes > Payments and Trade up 7% YoY, primarily reflecting net new business – Foreign exchange revenue up 22% YoY – Net interest income up 21% YoY • Noninterest expense of $3.6bn up 7% YoY, primarily reflecting higher investments, employee merit increases, revenue-related expenses, and higher litigation reserves and severance expense, partially offset by efficiency savings • Income before income taxes of $3.4bn up 18% YoY Note: See page 28 in the Appendix for corresponding footnotes. N/M – not meaningful.

 
26 2025 vs. $mm, unless otherwise noted 2025 2024 Investment management fees(a) $3,052 (1)% Performance fees 35 N/M Distribution and servicing fees 275 — Other fees(b) (313) N/M Investment and other revenue(c) 35 N/M Net interest income 174 (1) Total revenue $3,258 (4)% Provision for credit losses 5 N/M Noninterest expense(a) 2,710 (3) Income before income taxes $543 (10)% Total revenue by line of business: Investment Management(a)(d) $2,197 (6)% Wealth Management(d) 1,061 — Total revenue $3,258 (4)%             $bn, unless otherwise noted 2025 2024 Pre-tax margin 17% 18% Deposits (average) $9 $11 Assets under management ("AUM")(e) $2,178 $2,029 Long-term active strategies net flows $(44) $(10) Index net flows (49) (42) Short-term strategies net flows 56 45 Total net flows $(37) $(7) Wealth Management Client assets(f) $350 $327             Investment and Wealth Management Select Income Statement Data Key Performance Indicators Select Income Statement Data • Total revenue of $3.3bn down 4% YoY – Investment Management down 6% YoY, primarily reflecting the mix of AUM flows and the adjustment for certain rebates (offset in noninterest expense)(a), partially offset by higher market values and the favorable impact of the weaker U.S. dollar – Wealth Management flat YoY, reflecting higher market values, offset by changes in product mix • Noninterest expense of $2.7bn down 3% YoY, primarily reflecting lower revenue-related expenses (including the adjustment for certain rebates(a)) and efficiency savings, partially offset by higher investments, employee merit increases and the unfavorable impact of the weaker U.S. dollar • Income before income taxes of $543mm down 10% YoY • AUM of $2.2trn up 7% YoY, primarily reflecting higher market values and the favorable impact of the weaker U.S. dollar, partially offset by cumulative net outflows • Wealth Management client assets of $350bn up 7% YoY, primarily reflecting higher market values, partially offset by cumulative net outflows (a) Effective 1Q25, an adjustment for certain rebates, which were previously recorded as distribution and servicing expense, began to be reflected as a reduction of investment management fees. These amounts totaled approximately $80 million llllllfor the period presented and impacted the year-over-year variance for investment management fees and related revenue subtotals, noninterest expense and Investment Management total revenue in the table above. Note: See page 28 in the Appendix for corresponding footnotes. N/M – not meaningful. (a)

 
27 $mm, unless otherwise noted 2025 2024 Fee revenue $(91) $(42) Investment and other revenue 185 140 Net interest income (expense) (36) (61) Total revenue $58 $37 Provision for credit losses (4) 9 Noninterest expense 224 254 (Loss) before income taxes $(162) $(226)             Other Segment Select Income Statement Data • Total revenue includes corporate treasury and other investment activity, including hedging activity which has an offsetting impact between fee and other revenue and net interest expense – YoY increase was primarily driven by other investment gains • Noninterest expense decreased YoY, primarily driven by lower severance expense and litigation reserves Select Income Statement Data

 
28 Footnotes Page 6 – Business and Operating Performance (a) Organic fee growth is the amount of fee revenue growth attributable to net new business and the net impact of changes in activity within existing products by existing clients. We believe this measure permits investors to gain an understanding of internal versus external drivers of fee revenue growth. (b) The baseline scenario incorporates the market’s forward rate expectations and management’s assumptions regarding client deposit rates, credit spreads, changes in the prepayment behavior of loans and securities and the impact of derivative financial instruments used for interest rate risk management purposes as of each respective year-end. Represents next-twelve-month sensitivity to changes in interest rates. Percentages reflect the modeled dollar impact of a parallel ±100 bps rate shock versus the baseline, expressed as a percentage of NII for the period presented. 2025 information is preliminary. Page 14 – Capital and Liquidity (a) Regulatory capital and liquidity ratios for December 31, 2025 are preliminary. For our CET1 ratio, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for the periods presented was the Standardized Approach. Page 16 and 24 – Securities Services (a) Other fees primarily include financing-related fees. (b) December 31, 2025 information is preliminary. (c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.2 trillion at December 31, 2025, $2.1 trillion at September 30, 2025 and $1.8 trillion at December 31, 2024. (d) Beginning in 4Q25, the previously reported metric for the Issuer Services line of business, Number of sponsored Depositary Receipts programs has been replaced with a new metric, Number of Depositary Receipts programs. Pages 17 and 25 – Market and Wealth Services (a) Formerly Treasury Services. (b) Other fees primarily include financing-related fees. (c) December 31, 2025 information is preliminary. (d) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business. (e) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer. Page 18 and 26 – Investment and Wealth Management (a) (b) Other fees primarily include investment services fees. (c) Investment and other revenue is net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds. (d) In 4Q25, the prior period total revenue by line of business for Investment Management and Wealth Management was revised for comparability to reflect the movement of certain fixed income investment management business from Wealth Management to Investment Management. There was no impact to total revenue reported for the Investment and Wealth Management business segment on a consolidated basis. (e) December 31, 2025 information is preliminary. Represents assets managed in the Investment and Wealth Management business segment. (f) December 31, 2025 information is preliminary. Includes AUM and AUC/A in the Wealth Management line of business.

 
29  $mm 4Q25 3Q25 4Q24 2025 2024 2023 2022 Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $1,427 $1,339 $1,130 $5,306 $4,336 $3,067 $2,345 Add: Amortization of intangible assets 11 12 13 45 50 57 67 Less: Tax impact of amortization of intangible assets 3 3 3 11 12 14 16 Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets — Non-GAAP $1,435 $1,348 $1,140 $5,340 $4,374 $3,110 $2,396 Less: Reduction in the fair value of a contingent consideration receivable(a) — — — — — (144) — Disposal gain(a) — 9 — 41 — (5) (12) Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) — — — — — — (67) Net loss from repositioning the securities portfolio(a) — — — — — — (343) Less: Severance expense(c) (74) (39) (103) (165) (183) (205) (166) Less: Litigation reserves(c) (6) (2) (37) 7 (41) (91) (125) Less: FDIC special assessment(c) 37 11 6 48 48 (482) — Goodwill impairment — — — — — — (665) Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets and notable items — Non-GAAP $1,478 $1,369 $1,274 $5,409 $4,550 $4,037 $3,774 Average common shareholders’ equity $39,142 $38,626 $36,923 $38,167 $36,413 $35,767 $36,067 Less: Average goodwill 16,777 16,787 16,515 16,733 16,316 16,204 17,060 Less: Average intangible assets 2,827 2,842 2,846 2,842 2,839 2,880 2,939 Add: Deferred tax liability – tax deductible goodwill 1,227 1,236 1,221 1,227 1,221 1,205 1,181 Add: Deferred tax liability – intangible assets 662 665 665 662 665 657 660 Average tangible common shareholders’ equity – Non-GAAP $21,427 $20,898 $19,448 $20,481 $19,144 $18,545 $17,909 Return on common equity(d) – GAAP 14.5% 13.7% 12.2% 13.9% 11.9% 8.6% 6.5% Adjusted return on common equity(d) – Non-GAAP 14.9% 14.0% 13.6% 14.1% 12.4% 11.3% 10.5% Return on tangible common equity(d) – Non-GAAP 26.6% 25.6% 23.3% 26.1% 22.8% 16.8% 13.4% Adjusted return on tangible common equity(d) – Non-GAAP 27.4% 26.0% 26.1% 26.4% 23.8% 21.8% 21.1%            Return on Common Equity and Tangible Common Equity Reconciliation (a) Reflected in Investment and other revenue. (b) Primarily reflected in Investment services fees. (c) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively. (d) Returns are annualized.

 
30 Select Income Statement Data Reconciliation of Non-GAAP Measures – Impact of Notable Items 4Q25 vs. 2025 vs.  $mm, except per share amounts 4Q25 3Q25 4Q24 3Q25 4Q24 2025 2024 2024 Total revenue – GAAP $5,179 $5,081 $4,847 2% 7% $20,080 $18,619 8% Less: Disposal gain(a) — 12 — 52 — Adjusted total revenue, ex-notables — Non-GAAP $5,179 $5,069 $4,847 2% 7% $20,028 $18,619 8% Noninterest expense – GAAP $3,360 $3,236 $3,355 4% —% $13,054 $12,701 3% Less: Severance expense(b) 98 50 135 214 240 Less: Litigation reserves(b) 3 3 38 (8) 44 Less: FDIC special assessment(b) (50) (14) (8) (64) (63) Adjusted noninterest expense, ex-notables — Non-GAAP $3,309 $3,197 $3,190 4% 4% $12,912 $12,480 3% Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $1,427 $1,339 $1,130 7% 26% $5,306 $4,336 22% Less: Disposal gain(a) — 9 — 41 — Less: Severance expense(b) (74) (39) (103) (165) (183) Less: Litigation reserves(b) (6) (2) (37) 7 (41) Less: FDIC special assessment(b) 37 11 6 48 48 Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation — Non-GAAP $1,470 $1,360 $1,264 8% 16% $5,375 $4,512 19% Diluted earnings per share – GAAP $2.02 $1.88 $1.54 7% 31% $7.40 $5.80 28% Less: Disposal gain(a) — 0.01 — 0.06 — Less: Severance expense(b) (0.11) (0.05) (0.14) (0.23) (0.24) Less: Litigation reserves(b) (0.01) — (0.05) 0.01 (0.05) Less: FDIC special assessment(b) 0.05 0.01 0.01 0.07 0.06 Adjusted diluted earnings per share — Non-GAAP $2.08 $1.91 $1.72 9% 21% $7.50 $6.03 24% Operating leverage – GAAP(c) (190) bps 670 bps 507 bps Adjusted operating leverage — Non-GAAP(c) (133) bps 312 bps 411 bps Pre-tax operating margin – GAAP(d) 36% 36% 30% 35% 31% Adjusted pre-tax operating margin — Non-GAAP(d) 37% 37% 34% 36% 33% (a) Reflected in Investment and other revenue. (b) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively. (c) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (d) Income before taxes divided by total revenue. See the 4Q25 Earnings Release for additional information.

 
31 Select Income Statement Data Reconciliation of Non-GAAP Measures – 2022-2025 CAGR (a) Reflected in Investment and other revenue. (b) Primarily reflected in Investment services fees. (c) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively. (d) Operating leverage for 2022 to 2025 is the increase (decrease) of the compound annual growth rate for total revenue less the increase (decrease) of the compound annual growth rate for total noninterest expense. 22-'25  $mm 2025 2024 2023 2022 CAGR Total revenue – GAAP $20,080 $18,619 $17,697 $16,529 7% Less: Reduction in the fair value of a contingent consideration receivable(a) — — (144) — Less: Disposal gain(a) 52 — (6) 26 Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) — — — (88) Net loss from repositioning the securities portfolio(a) — — — (449) Adjusted total revenue, ex-notables — Non-GAAP $20,028 $18,619 $17,847 $17,040 6% Noninterest expense – GAAP $13,054 $12,701 $13,295 $13,010 0% Less: Severance expense(c) 214 240 267 215 Less: Litigation reserves(c) (8) 44 94 134 Less: FDIC special assessment(c) (64) (63) 632 — Less: Goodwill impairment — — — 680 Adjusted noninterest expense, ex-notables — Non-GAAP $12,912 $12,480 $12,302 $11,981 3% Operating leverage – GAAP(d) 659 bps Adjusted operating leverage — Non-GAAP(d) 301 bps '

 
32 Select Income Statement Data Reconciliation of Non-GAAP Measures – 2022-2025 CAGR cont. 22-'25  $mm, except per share amounts 2025 2024 2023 2022 CAGR Income before taxes – GAAP $7,058 $5,848 $4,283 3,480 27% Impact of notable items(a) (90) (221) (1,143) (1,540) Adjusted income before taxes — Non-GAAP $7,148 $6,069 $5,426 $5,020 13% Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $5,306 $4,336 $3,067 $2,345 Less: Reduction in the fair value of a contingent consideration receivable(b) — — (144) — Less: Disposal gain(b) 41 — (5) (12) Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(c) — — — (67) Net loss from repositioning the securities portfolio(b) — — — (343) Less: Severance expense(d) (165) (183) (205) (166) Less: Litigation reserves(d) 7 (41) (91) (125) Less: FDIC special assessment(d) 48 48 (482) — Goodwill impairment — .0 — 0 — (665) Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation — Non-GAAP $5,375 $4,512 $3,994 $3,723 Diluted earnings per share – GAAP $7.40 $5.80 $3.89 $2.88 37% Less: Reduction in the fair value of a contingent consideration receivable(b) — .0 — (0.18) — Less: Disposal gain(b) 0.06 — (0.01) (0.01) Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(c) — — — (0.08) Net loss from repositioning the securities portfolio(b) — — — (0.42) Less: Severance expense(d) (0.23) (0.24) (0.26) (0.18) Less: Litigation reserves(d) 0.01 (0.05) (0.12) (0.18) Less: FDIC special assessment(d) 0.07 0.06 (0.61) — Goodwill impairment — .0 — — (0.82) Adjusted diluted earnings per share — Non-GAAP $7.50 $6.03 $5.07 $4.57 18% Pre-tax operating margin – GAAP(e) 35% 31% 24% 21% Adjusted pre-tax operating margin — Non-GAAP(e) 36% 33% 30% 29% (a) See page 31 for details of notable items and lines impacted. (b) Reflected in Investment and other revenue. (c) Primarily reflected in Investment services fees. (d) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and FDIC special assessment in Bank assessment charges, respectively. (e) Income before taxes divided by total revenue. '

 
33 Select Income Statement Data Reconciliation of Non-GAAP Measures – Impact of Notable Items Pre-tax Margin  $mm 2025 2024 2023 Average Total revenue – GAAP $20,080 $18,619 $17,697 Less: Reduction in the fair value of a contingent consideration receivable(a) — — (144) Less: Disposal gain(a) 52 — (6) Adjusted total revenue, ex-notables — Non-GAAP $20,028 $18,619 $17,847 Income before taxes – GAAP $7,058 $5,848 $4,283 Impact of notable items(b) (90) (221) (1,143) Adjusted income before taxes — Non-GAAP $7,148 $6,069 $5,426 Pre-tax operating margin – GAAP(c) 35% 31% 24% 30% Adjusted pre-tax operating margin — Non-GAAP(c) 36% 33% 30% 33% (d)'23-'25 (a) Reflected in Investment and other revenue. (b) See page 31 for details of notable items and lines impacted. (c) Income before taxes divided by total revenue. (d) Simple average of 2023, 2024 and 2025.

 
34 Select Income Statement Data Adoption of New Accounting Guidance  $mm, except per share amounts 2022 Total revenue – previously reported $16,377 Impact of adopting ASU 2023-02 152 Total revenue $16,529 Income before taxes – previously reported $3,328 Impact of adopting ASU 2023-02 152 Income before taxes $3,480 Net income applicable to common shareholders of The Bank of New York Mellon Corporation – previously reported $2,362 Impact of adopting ASU 2023-02 (17) Net income applicable to common shareholders of The Bank of New York Mellon Corporation $2,345 Diluted earnings per share – previously reported $2.90 Impact of adopting ASU 2023-02 (0.02) Diluted earnings per share $2.88 The following disclosures reflect the restatement of prior period financial information to reflect the impact of the retrospective application of new accounting guidance. On Jan. 1, 2024, we adopted Accounting Standards Update (“ASU”) 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method on a retrospective basis for our investments in renewable energy projects that have met the eligibility criteria. The impact of adopting this guidance increased investment and other revenue and the provision for income taxes on the consolidated income statement. The results of our investments in renewable energy projects are included in the Other segment. The previously reported measures referenced below will be referred to as "2022*" on the following pages, for 2022 figures prior to adopting ASU 2023-02.

 
35 Select Income Statement Data Reconciliation of Non-GAAP Measures – 2012-2022* CAGR 12-'22*  $mm, except per share amounts 2022* 2012 CAGR Total revenue – GAAP $16,377 $14,610 1% Less: Disposal gain(a) 26 — Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) (88) — Net loss from repositioning the securities portfolio(a) (449) — Adjusted total revenue, ex-notables — Non-GAAP $16,888 $14,610 1% Noninterest expense – GAAP $13,010 $11,333 1% Less: Severance expense(c) 215 — Less: Litigation reserves(c) 134 — Less: Goodwill impairment 680 — M&I, litigation and restructuring charges — 559 Reserve (increase) decrease related to investment management funds(c) — 16 Adjusted noninterest expense, ex-notables — Non-GAAP $11,981 $10,758 1% Operating leverage – GAAP(d) (24) bps Adjusted operating leverage — Non-GAAP(d) 38 bps Income before taxes – GAAP $3,328 $3,357 —% Impact of notable items(e) (1,540) (575) Adjusted income before taxes — Non-GAAP $4,868 $3,932 2% Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $2,362 $2,419 Less: Disposal gain(a) (12) — Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) (67) — Net loss from repositioning the securities portfolio(a) (343) — Less: Severance expense(c) (166) — Less: Litigation reserves(c) (125) — Goodwill impairment (665) — M&I, litigation and restructuring charges — (339) Reserve (increase) decrease related to investment management funds(c) — (12) Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation — Non-GAAP $3,740 $2,770 Diluted earnings per share – GAAP $2.90 $2.03 4% Less: Disposal gain(a) (0.01) — Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) (0.08) — Net loss from repositioning the securities portfolio(a) (0.42) — Less: Severance expense(c) (0.20) — Less: Litigation reserves(c) (0.18) — Goodwill impairment (0.82) — M&I, litigation and restructuring charges — (0.29) Reserve (increase) decrease related to investment management funds(c) — (0.01) Adjusted diluted earnings per share — Non-GAAP $4.59 $2.33 7% ' -' * (a) Reflected in Investment and other revenue. (b) Primarily reflected in Investment services fees. (c) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, and Reserve (increase) decrease related to investment management funds primarily in Other expense respectively. (d) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (e) See lines above for notable items impacting income before taxes.

 
36 Select Income Statement Data Reconciliation of Non-GAAP Measures – Impact of Notable Items Pre-tax Margin 12-22*  $mm 2022* 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 Average Total revenue – GAAP $16,377 $15,931 $15,808 $16,462 $16,392 $15,543 $15,237 $15,194 $15,692 $15,048 $14,610 Less: Disposal (loss) gain(a) 26 13 (61) — — — — — — — — Gain on sale of certain businesses, equity investments and real estate(a) — — — 815 — — — — 836 — — Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) (88) — — — — — — — — — — Net loss from repositioning the securities portfolio(a) (449) — — — — — — — — — — U.S. tax legislation(a) — — — — (13) (283) — — — — — Lease-related impairment(c) — — — (70) — — — — — — — Adjusted total revenue, ex-notables — Non-GAAP $16,888 $15,918 $15,869 $15,717 $16,405 $15,826 $15,237 $15,194 $14,856 $15,048 $14,610 Income before taxes – GAAP $3,328 $4,648 $4,468 $5,587 $5,192 $4,610 $4,725 $4,235 $3,563 $3,777 $3,357 Less: Disposal (loss) gain(a) 26 13 (61) — — — — — — — — Gain on sale of certain businesses, equity investments and real estate(a) — — — 815 — — — — 836 — — Revenue reduction related to Russia, primarily accelerated amortization of deferred costs for depositary receipt services(b) (88) — — — — — — — — — — Net loss from repositioning the securities portfolio(a) (449) — — — — — — — — U.S. tax legislation(a) — — — — (13) (283) — — — — — Lease-related impairment(c) — — — (70) — — — — — — — Goodwill impairment (680) — — — — — — — — — Severance expense(d) (215) (31) (65) (169) (162) (153) Litigation reserves(d) (134) (98) (67) (23) (110) (104) — — — — — M&I, litigation and restructuring charges — — — — — (2) (49) (85) (1,130) (70) (559) Reserve (increase) decrease related to investment management funds(d) — — — 79 — — — — (104) (12) (16) Real estate charges(d) — — (33) — (71) — — — — — — Impairment (charge) release related to a court decision — — — — — — 13 (170) — — — Asset impairments(d) — — — — — (50) — — — — — Adjusted income before taxes — Non-GAAP $4,868 $4,764 $4,694 $4,955 $5,548 $5,202 $4,761 $4,490 $3,961 $3,859 $3,932 Pre-tax operating margin – GAAP(f) 20% 29% 28% 34% 32% 30% 31% 28% 23% 25% 23% 28% Adjusted pre-tax operating margin — Non-GAAP(f) 29% 30% 30% 32% 34% 33% 31% 30% 27% 26% 27% 30% '12-' (e) (a) Reflected in Investment and other revenue. (b) Primarily reflected in Investment services fees. (c) Reflected in Net interest income. (d) Severance expense is reflected in Staff expense, Litigation reserves in Other expense, Real estate charges primarily in Net occupancy expense, Asset impairments in primarily in Software and equipment expense, and Reserve (increase) decrease related to investment management funds primarily in Other expense, respectively. (e) Reflected in Provision for credit losses. (f) Income before taxes divided by total revenue.

 
37 A number of statements in our presentations, the accompanying slides and the responses to questions on our conference call discussing our quarterly results may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about The Bank of New York Mellon Corporation’s (the “Corporation,” “we,” “us,” or “our”) capital plans including dividends and repurchases, total payout ratio, financial performance, fee revenue, net interest income, expenses, cost discipline, efficiency savings, operating leverage, pre-tax margin, capital ratios, organic growth, pipeline, deposits, interest rates and yield curves, securities portfolio, taxes, investments, including in technology and product development, innovation in products and services, artificial intelligence, digital assets, client experience, strategic priorities and initiatives, acquisitions, related integration and divestiture activity, transition to a platforms operating model, capabilities, resiliency, risk profile, human capital management and the effects of the current and near-term market and macroeconomic outlook on us, including on our business, operations, financial performance and prospects. Preliminary business metrics, NII sensitivity, and regulatory capital ratios are subject to change, possibly materially as we complete our Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements may be expressed in a variety of ways, including the use of future or present tense language. Words such as “estimate,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “strategy,” “synergies,” “opportunities,” “trends,” “momentum,” “ambition,” “aspiration,” “objective,” “aim,” “future,” “potentially,” “outlook” and words of similar meaning may signify forward-looking statements. These statements are not guarantees of future results or occurrences, are inherently uncertain and are based upon current beliefs and expectations of future events, many of which are, by their nature, difficult to predict, outside of our control and subject to change. By identifying these statements for you in this manner, we are alerting you to the possibility that our actual results may differ, possibly materially, from the anticipated results expressed or implied in these forward-looking statements as a result of a number of important factors. These factors include: tariff and other trade policies and the resulting impacts on market volatility and global trade; growing fiscal deficits; changing levels of inflation and the corresponding impacts on macroeconomic conditions, client behavior and our funding costs; liquidity and interest rate volatility; potential recessions or slowing of growth in the U.S., Europe and other regions; developments in the Middle East and in Latin America; political uncertainty regarding operational and policy changes at U.S. government agencies; our ability to execute against our strategic initiatives; and the risk factors and other uncertainties set forth in our Annual Report on Form 10-K for the year ended Dec. 31, 2024 (the “2024 Annual Report”) and our other filings with the Securities and Exchange Commission (the “SEC”). Forward-looking statements about the timing, profitability, benefits and other prospective aspects of business and expense initiatives, our financial outlook, our medium-term financial targets and our long-term strategy, and how they can be achieved, are based on our current expectations regarding our ability to execute against our strategic initiatives, as well as our balance sheet size and composition, and may change, possibly materially, from what is currently expected. Statements about our outlook on total revenue are subject to various factors, including market levels, client activity, our ability to win and onboard new business, lost business, pricing pressure, our ability to launch new products to, and expand relationships with, existing clients, interest rates, re-investment yields and the size, mix and duration of our balance sheet, including with respect to deposits, loan balances and the securities portfolio. Statements about our outlook on expenses are subject to various factors, including investments, revenue-related expenses, efficiency savings, merit increases, inflation and currency fluctuations. Statements about our target Tier 1 leverage ratio and CET1 ratio are subject to various factors, including capital requirements, interest rates, capital levels, risk-weighted assets and the size of our balance sheet, including deposit levels. Statements about the timing, manner and amount of any future common stock dividends or repurchases are subject to various factors, including our capital position, capital deployment opportunities, prevailing market conditions, legal and regulatory considerations and our outlook for the economic environment. Statements about our future effective tax rate are subject to various factors including, changes in the tax rates applicable to us, changes in our earnings mix, our profitability, the assumptions we have made in forecasting our expected tax rate, the interpretation or application of existing tax statutes and regulations, as well as any corporate tax legislation that may be enacted or any guidance that may be issued by the U.S. Internal Revenue Service. You should not place undue reliance on any forward-looking statement. All forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Non-GAAP Measures. In this presentation, the accompanying slides and our responses to questions, we may discuss certain non-GAAP measures in detailing our performance, which exclude certain items or otherwise include components that differ from GAAP. We believe these measures are useful to the investment community in analyzing the financial results and trends of ongoing operations. We believe they facilitate comparisons with prior periods and reflect the principal basis on which our management monitors financial performance. Additional disclosures relating to non-GAAP measures are contained in our reports filed with the SEC, including the 2024 Annual Report, the fourth quarter 2025 earnings release and the fourth quarter 2025 financial supplement, which are available at www.bny.com/investorrelations. Forward-Looking Non-GAAP Financial Measures. From time to time we may discuss forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for total revenue, expenses, pre-tax margin and return on tangible common equity excluding notable items. We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant to future results. Cautionary Statement