8-K

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) – April 21, 2016

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.)
225 Liberty Street New York, New York (Address of principal executive offices)		10286 (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:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

1

ITEM 2.02.    RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On April 21, 2016, The Bank of New York Mellon Corporation (“BNY Mellon”) issued an Earnings Release announcing its financial results for the first quarter of 2016. A copy of the Earnings Release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The quotation included in Exhibit 99.1 (the “Excluded Section”) is “furnished” by this Current Report on Form 8-K pursuant to General Instruction B.2 of Form 8-K and is not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any BNY Mellon filing under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act. The information included in Exhibit 99.1, other than in the Excluded Section, is to be considered “filed” under the Exchange Act and is incorporated by reference into all filings made by BNY Mellon under the Securities Act and the Exchange Act that state that this Current Report on Form 8-K is incorporated therein by reference.

ITEM 7.01.    REGULATION FD DISCLOSURE.

On April 21, 2016, in conjunction with a conference call and webcast regarding BNY Mellon’s financial results, Quarterly Financial Trends, Key Facts and a First Quarter 2016 Financial Highlights presentation are available on BNY Mellon’s website, www.bnymellon.com. A copy of each of the Quarterly Financial Trends, Key Facts and the First Quarter 2016 Financial Highlights presentation is “furnished” as Exhibits 99.2, 99.3 and 99.4, respectively, to this Current Report on Form 8-K pursuant to General Instruction B.2 of Form 8-K and is not “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section. These exhibits shall not be incorporated by reference into any filings BNY Mellon has made or may make under the Securities Act or Exchange Act, except as otherwise expressly stated in such filing.The contents of BNY Mellon’s website referenced herein and in the exhibits are not incorporated into this Current Report on Form 8-K.

2

ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99.1 (other than the Excluded Section) shall be deemed filed herewith. The Excluded Section and Exhibits 99.2, 99.3 and 99.4 shall be deemed furnished herewith.

(d)    EXHIBITS.

Exhibit
Number	Description
99.1	The Bank of New York Mellon Corporation Earnings Release dated April 21, 2016, announcing financial results for the first quarter of 2016.
99.2	The Bank of New York Mellon Corporation Quarterly Financial Trends dated April 21, 2016, for the first quarter of 2016.
99.3	Key Facts – First Quarter 2016 dated April 21, 2016.
99.4	First Quarter 2016 Financial Highlights Presentation dated April 21, 2016.

3

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: April 21, 2016	By: /s/ Craig T. Beazer
	Name: Craig T. Beazer Title: Secretary

4

EXHIBIT INDEX

Number	Description	Method of Filing
99.1	Earnings Release dated April 21, 2016.	Filed herewith (other than the Excluded Section)
99.2	Quarterly Financial Trends dated April 21, 2016.	Furnished herewith
99.3	Key Facts – First Quarter 2016 dated April 21, 2016.	Furnished herewith
99.4	First Quarter 2016 Financial Highlights Presentation dated April 21, 2016.	Furnished herewith

EX-99.1

BNY Mellon 1Q16 Earnings Release

News Release

Contacts: MEDIA:	ANALYSTS:
Kevin Heine	Valerie Haertel
(212) 635-1590	(212) 635-8529
kevin.heine@bnymellon.com	valerie.haertel@bnymellon.com

BNY MELLON REPORTS FIRST QUARTER EARNINGS OF $804 MILLION OR $0.73 PER COMMON SHARE

• Earnings per common share up 9% year-over-year

GENERATED APPROXIMATELY 250 BASIS POINTS OF POSITIVE OPERATING LEVERAGE YEAR-OVER-YEAR ON AN ADJUSTED BASIS (a)

• Net interest revenue increased 5% and fee and other revenue decreased 1%

• Total noninterest expense decreased 3% on a reported and adjusted basis (a)

EXECUTING ON CAPITAL PLAN AND RETURN OF VALUE TO COMMON SHAREHOLDERS

• Repurchased 16.2 million common shares for $577 million

• Adjusted return on tangible common equity of 21%(a)

• Estimated SLR on a fully phased-in basis exceeded 5% (a)

NEW YORK, April 21, 2016 – The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) today reported first quarter net income applicable to common shareholders of $804 million, or $0.73 per diluted common share, compared with net income applicable to common shareholders of $766 million, or $0.67 per diluted common share in the first quarter of 2015. In the fourth quarter of 2015, net income applicable to common shareholders was $637 million, or $0.57 per diluted common share, or $755 million, or $0.68 per diluted common share, adjusted for the impairment charge related to a prior court decision, litigation and restructuring charges. (a)

“In challenging market conditions, we generated solid earnings growth as we executed on our strategic priorities. First quarter earnings per share grew by 9 percent year over year and we generated approximately 250 basis points of positive operating leverage while improving our operating margin to 31 percent,” Gerald L. Hassell, chairman and chief executive officer, said.

“We are intently focused on enhancing the client experience and driving further efficiencies. Our business improvement process has enabled funding for important strategic investments for regulatory compliance and risk management excellence, technology and servicing platform improvements, and the delivery of new solutions for our clients,” Mr. Hassell added.

“We are confident that we are on the right track to achieve our Investor Day targets, delivering value to our clients and our shareholders,” Mr. Hassell concluded.

_________________________________________________________________________________

(a) See the “Financial Summary” on page 4 for the Non-GAAP adjustments and additional information related to operating leverage. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 25 for the tangible common equity ratio reconciliation. See “Capital and Liquidity” beginning on page 13 for the reconciliation of the estimated SLR on a fully phased-in basis.

Page - 1

BNY Mellon 1Q16 Earnings Release

CONFERENCE CALL INFORMATION

Gerald L. Hassell, chairman and chief executive officer, and Thomas P. Gibbons, vice chairman and chief financial officer, along with other members of executive management from BNY Mellon, will host a conference call and simultaneous live audio webcast at 8:00 a.m. EDT on April 21, 2016. 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 (888) 898-7224 (U.S.) or 913-312-9027 (International), and using the passcode: 619690, or by logging on to www.bnymellon.com. Earnings materials will be available at www.bnymellon.com beginning at approximately 6:30 a.m. EDT on April 21, 2016. Replays of the conference call and audio webcast will be available beginning April 21, 2016 at approximately 2 p.m. EDT through May 21, 2016 by dialing (888) 203-1112 (U.S.) or (719) 457-0820 (International), and using the passcode: 2620345. The archived version of the conference call and audio webcast will also be available at www.bnymellon.com for the same time period.

Page - 2

BNY Mellon 1Q16 Earnings Release

FIRST QUARTER 2016 FINANCIAL HIGHLIGHTS (a)

(comparisons are 1Q16 vs. 1Q15 unless otherwise stated)

•Earnings

	Earnings per share						Net income applicable to common shareholders of The Bank of New York Mellon Corporation
(in millions, except per share amounts)	1Q16		1Q15		Inc		1Q16		1Q15			Inc
GAAP results	$	0.73	$	0.67	9	%	$	804	$	766		5	%
Add: Litigation and restructuring charges	0.01		—				10		(2		)
Non-GAAP results	$	0.74	$	0.67	10	%	$	814	$	764		7	%

• Total revenue was $3.7 billion, a decrease of 2%, or 1% (Non-GAAP) (a).

-    Investment services fees increased 1% reflecting higher money market fees and net new business partially offset by lower market values and lost business in clearing services.

-    Investment management and performance fees decreased 6%, or 4% on a constant currency basis (Non-GAAP), driven by lower equity market values and net outflows in 2015 (a).

-    Foreign exchange revenue decreased 21% reflecting lower volumes.

-    Financing-related fees increased $14 million driven by higher fees related to secured intraday credit.

-    Investment and other income increased $45 million driven by higher lease-related gains.

-    Net interest revenue increased $38 million driven by higher yields on interest-earning assets, partially offset by higher rates paid on interest-bearing liabilities and the impact of interest rate hedging activities.

• The provision for credit losses was $10 million.

• Noninterest expense was $2.6 billion, a decrease of 3%, on both a reported and adjusted basis (Non-GAAP) (a). The decrease reflects lower expenses in nearly all categories, driven by the favorable impact of a stronger U.S. dollar, lower staff and legal expenses and the benefit of the business improvement process, partially offset by higher distribution and servicing expense.

• Generated approximately 250 basis points of positive operating leverage year-over-year on an adjusted basis (Non-GAAP) (a).

• Effective tax rate of 25.9%.

•Assets under custody and/or administration (“AUC/A”) and Assets under management (“AUM”)

-    AUC/A of $29.1 trillion increased 2% reflecting net new business and the favorable impact of a weaker U.S. dollar (principally versus the Euro), partially offset by lower market values.

--    Estimated new AUC/A wins in Asset Servicing of $40 billion in 1Q16.

-    AUM of $1.64 trillion decreased 5% reflecting net outflows primarily in 2015 and the unfavorable impact of a stronger U.S. dollar (principally versus the British pound).

--    Net long-term inflows of $1 billion in 1Q16 were driven by continued strength in liability-driven investments offset by outflows of index and equity investments.

--    Net short-term outflows totaled $9 billion in 1Q16.

•Capital

-    Repurchased 16.2 million common shares for $577 million in 1Q16.

-    Adjusted return on tangible common equity of 21% (Non-GAAP) in 1Q16(a).

-    Estimated supplementary leverage ratio (“SLR”), on a fully phased-in basis (Non-GAAP), exceeded 5.0% (a).

(a) See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 25 for the reconciliation of Non-GAAP measures. Unless otherwise noted, Non-GAAP excludes net (loss) income attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets, M&I, litigation and restructuring charges (recoveries) and the impairment charge related to a prior court decision, if applicable.

Note: Throughout this document, sequential growth rates are unannualized.

Page - 3

BNY Mellon 1Q16 Earnings Release

FINANCIAL SUMMARY

(dollars in millions, except per share amounts; common shares in thousands)																1Q16 vs.
	1Q16			4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
Revenue:
Fee and other revenue	$	2,970		$	2,950		$	3,053		$	3,067		$	3,012		1%		(1)%
(Loss) income from consolidated investment management funds	(6		)	16			(22		)	40			52
Net interest revenue	766			760			759			779			728			1		5
Total revenue – GAAP	3,730			3,726			3,790			3,886			3,792			—		(2	)
Less: Net (loss) income attributable to noncontrolling interests related to consolidated investment management funds	(7		)	5			(5		)	37			31
Total revenue – Non-GAAP	3,737			3,721			3,795			3,849			3,761			—		(1	)
Provision for credit losses	10			163			1			(6		)	2
Expense:
Noninterest expense – GAAP	2,629			2,692			2,680			2,727			2,700			(2	)	(3	)
Less: Amortization of intangible assets	57			64			66			65			66
M&I, litigation and restructuring charges (recoveries)	17			18			11			59			(3		)
Total noninterest expense – Non-GAAP	2,555			2,610			2,603			2,603			2,637			(2	)	(3	)
Income:
Income before income taxes	1,091			871			1,109			1,165			1,090			25%		—%
Provision for income taxes	283			175			282			276			280
Net income	$	808		$	696		$	827		$	889		$	810
Net loss (income) attributable to noncontrolling interests (a)	9			(3		)	6			(36		)	(31		)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	817			693			833			853			779
Preferred stock dividends	(13		)	(56		)	(13		)	(23		)	(13		)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	804		$	637		$	820		$	830		$	766
Operating leverage – Non-GAAP (b)																254	bps	247	bps
Key Metrics:
Pre-tax operating margin (c)	29		%	23		%	29		%	30		%	29		%
Non-GAAP (c)	31		%	30		%	31		%	33		%	30		%
Return on common equity (annualized)(c)	9.2		%	7.1		%	9.1		%	9.4		%	8.8		%
Non-GAAP (c)	9.7		%	8.9		%	9.7		%	10.3		%	9.2		%
Return on tangible common equity (annualized) – Non-GAAP (c)	20.6		%	16.2		%	20.8		%	21.5		%	20.3		%
Non-GAAP adjusted (c)	20.8		%	19.0		%	21.0		%	22.5		%	20.2		%
Fee revenue as a percentage of total revenue excluding net securities gains	79		%	79		%	80		%	79		%	79		%
Percentage of non-U.S. total revenue (d)	33		%	34		%	37		%	36		%	36		%
Average common shares and equivalents outstanding:
Basic	1,079,641			1,088,880			1,098,003			1,113,790			1,118,602
Diluted	1,085,284			1,096,385			1,105,645			1,122,135			1,126,306
Period end:
Full-time employees	52,100			51,200			51,300			50,700			50,500
Book value per common share – GAAP (c)	$	33.34		$	32.69		$	32.59		$	32.28		$	31.89
Tangible book value per common share – Non-GAAP (c)	$	15.87		$	15.27		$	15.16		$	14.86		$	14.82
Cash dividends per common share	$	0.17		$	0.17		$	0.17		$	0.17		$	0.17
Common dividend payout ratio	23		%	30		%	23		%	23		%	25		%
Closing stock price per common share	$	36.83		$	41.22		$	39.15		$	41.97		$	40.24
Market capitalization	$	39,669		$	44,738		$	42,789		$	46,441		$	45,130
Common shares outstanding	1,077,083			1,085,343			1,092,953			1,106,518			1,121,512

(a)    Primarily attributable to noncontrolling interests related to consolidated investment management funds.

(b) Pre-tax operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. The year-over-year pre-tax operating leverage (Non-GAAP) was based on a decrease in total revenue, as adjusted (Non-GAAP), of 64 basis points, and a decrease in total noninterest expense, as adjusted (Non-GAAP), of 311 basis points. The sequential operating leverage (Non-GAAP) was based on an increase in total revenue, as adjusted (Non-GAAP), of 43 basis points, and a decrease in total noninterest expense, as adjusted (Non-GAAP), of 211 basis points.

(c) Non-GAAP excludes the net income (loss) attributable to noncontrolling interests related to consolidated investment management funds, amortization of intangible assets, M&I, litigation and restructuring charges (recoveries) and the impairment charge related to a prior court decision, if applicable. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 25 for the reconciliation of Non-GAAP measures.

(d) Includes fee revenue, net interest revenue and (loss) income from consolidated investment management funds, net of net loss (income) attributable to noncontrolling interests.

bps – basis points.

Page - 4

BNY Mellon 1Q16 Earnings Release

CONSOLIDATED BUSINESS METRICS

Consolidated business metrics																	1Q16 vs.
	1Q16				4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
Changes in AUM (in billions): (a)
Beginning balance of AUM	$	1,625			$	1,625		$	1,700		$	1,717		$	1,686
Net inflows (outflows):
Long-term:
Equity	(3		)		(9		)	(4		)	(13		)	(5		)
Fixed income	—				1			(3		)	(2		)	3
Liability-driven investments (b)	14				11			11			5			8
Alternative investments	1				2			1			3			1
Total long-term active inflows (outflows)	12				5			5			(7		)	7
Index	(11		)		(16		)	(10		)	(9		)	8
Total long-term inflows (outflows)	1				(11		)	(5		)	(16		)	15
Short term:
Cash	(9		)		2			(10		)	(11		)	1
Total net inflows (outflows)	(8		)		(9		)	(15		)	(27		)	16
Net market/currency impact/acquisition	22				9			(60		)	10			15
Ending balance of AUM	$	1,639		(c)	$	1,625		$	1,625		$	1,700		$	1,717		1	%	(5	)%
AUM at period end, by product type: (a)
Equity	14		%		14		%	14		%	15		%	15		%
Fixed income	13				13			13			13			12
Index	19				20			20			21			22
Liability-driven investments (b)	33				32			32			30			30
Alternative investments	4				4			4			4			4
Cash	17				17			17			17			17
Total AUM	100		%	(c)	100		%	100		%	100		%	100		%
Investment Management:
Average loans (in millions)	$	14,275			$	13,447		$	12,779		$	12,298		$	11,634		6	%	23	%
Average deposits (in millions)	$	15,971			$	15,497		$	15,282		$	14,638		$	15,217		3	%	5	%
Investment Services:
Average loans (in millions)	$	45,004			$	45,844		$	46,222		$	45,822		$	45,071		(2	)%	—	%
Average deposits (in millions)	$	215,707			$	229,241		$	232,250		$	238,404		$	235,524		(6	)%	(8	)%
AUC/A at period end (in trillions) (d)	$	29.1		(c)	$	28.9		$	28.5		$	28.6		$	28.5		1	%	2	%
Market value of securities on loan at period end (in billions) (e)	$	300			$	277		$	288		$	283		$	291		8	%	3	%
Asset servicing:
Estimated new business wins (AUC/A) (in billions)	$	40		(c)	$	49		$	84		$	933		$	125
Depositary Receipts:
Number of sponsored programs	1,131				1,145			1,176			1,206			1,258			(1	)%	(10	)%
Clearing services:
Average active clearing accounts (U.S. platform) (in thousands)	5,947				5,959			6,107			6,046			5,979			—	%	(1	)%
Average long-term mutual fund assets (U.S. platform) (in millions)	$	415,025			$	437,260		$	447,287		$	466,195		$	456,954		(5	)%	(9	)%
Average investor margin loans (U.S. platform) (in millions)	$	11,063			$	11,575		$	11,806		$	11,890		$	11,232		(4	)%	(2	)%
Broker-Dealer:
Average tri-party repo balances (in billions)	$	2,104			$	2,153		$	2,142		$	2,174		$	2,153		(2	)%	(2	)%

(a) Excludes securities lending cash management assets and assets managed in the Investment Services business.

(b) Includes currency overlay assets under management.

(c) Preliminary.

(d) Includes the AUC/A of CIBC Mellon Global Securities Services Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $1.1 trillion at March 31, 2016, $1.0 trillion at Dec. 31, 2015 and Sept. 30, 2015 and $1.1 trillion at June 30, 2015 and March 31, 2015.

(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $56 billion at March 31, 2016, $55 billion at Dec. 31, 2015, $61 billion at Sept. 30, 2015, $68 billion at June 30, 2015 and $69 billion at March 31, 2015.

Page - 5

BNY Mellon 1Q16 Earnings Release

The following table presents key market metrics at period end and on an average basis.

Key market metrics																1Q16 vs.
	1Q16			4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
S&P 500 Index (a)	2060			2044			1920			2063			2068			1%		—
S&P 500 Index – daily average	1951			2052			2027			2102			2064			(5	)	(5	)
FTSE 100 Index (a)	6175			6242			6062			6521			6773			(1	)	(9	)
FTSE 100 Index – daily average	5988			6271			6399			6920			6793			(5	)	(12	)
MSCI World Index (a)	1648			1663			1582			1736			1741			(1	)	(5	)
MSCI World Index – daily average	1568			1677			1691			1780			1726			(6	)	(9	)
Barclays Capital Global Aggregate BondSM Index (a)(b)	368			342			346			342			348			8		6
NYSE and NASDAQ share volume (in billions)	218			198			206			185			187			10		17
JPMorgan G7 Volatility Index – daily average (c)	10.60			9.49			9.93			10.06			10.40			12		2
Average Fed Funds effective rate	0.36		%	0.16		%	0.13		%	0.13		%	0.11		%	20 bps		25 bps
Foreign exchange rates vs. U.S. dollar:
British pound (a)	$	1.44		$	1.48		$	1.52		$	1.57		$	1.48		(3)%		(3)%
British pound - average rate	1.43			1.52			1.55			1.53			1.51			(6	)	(5	)
Euro (a)	1.14			1.09			1.12			1.11			1.07			5		7
Euro - average rate	1.10			1.10			1.11			1.11			1.13			—		(3	)

(a) Period end.

(b) Unhedged in U.S. dollar terms.

(c) The JPMorgan G7 Volatility Index is based on the implied volatility in 3-month currency options.

bps – basis points.

Page - 6

BNY Mellon 1Q16 Earnings Release

FEE AND OTHER REVENUE

Fee and other revenue											1Q16 vs.
(dollars in millions)	1Q16		4Q15		3Q15		2Q15		1Q15		4Q15		1Q15
Investment services fees:
Asset servicing (a)	$	1,040	$	1,032	$	1,057	$	1,060	$	1,038	1	%	—	%
Clearing services	350		339		345		347		344		3		2
Issuer services	244		199		313		234		232		23		5
Treasury services	131		137		137		144		137		(4	)	(4	)
Total investment services fees	1,765		1,707		1,852		1,785		1,751		3		1
Investment management and performance fees	812		864		829		878		867		(6	)	(6	)
Foreign exchange and other trading revenue	175		173		179		187		229		1		(24	)
Financing-related fees	54		51		71		58		40		6		35
Distribution and servicing	39		41		41		39		41		(5	)	(5	)
Total fee revenue excluding investment and other income	2,845		2,836		2,972		2,947		2,928		—		(3	)
Investment and other income	105		93		59		104		60		13		75
Total fee revenue	2,950		2,929		3,031		3,051		2,988		1		(1	)
Net securities gains	20		21		22		16		24		N/M		N/M
Total fee and other revenue	$	2,970	$	2,950	$	3,053	$	3,067	$	3,012	1	%	(1	)%

(a) Asset servicing fees include securities lending revenue of $50 million in 1Q16, $46 million in 4Q15, $38 million in 3Q15,$49 million in 2Q15 and $43 million in 1Q15.

N/M – Not meaningful.

KEY POINTS

• Asset servicing fees were $1.0 billion, flat year-over-year and an increase of 1% sequentially. Both comparisons primarily reflect net new business and higher securities lending revenue, offset by lower market values. The year-over-year comparison also reflects the unfavorable impact of a stronger U.S. dollar.

• Clearing services fees were $350 million, an increase of 2% year-over-year and 3% sequentially. Both increases primarily reflect higher money market fees, partially offset by the impact of lost business. The sequential increase also reflects higher volumes.

• Issuer services fees were $244 million, an increase of 5% year-over-year and 23% sequentially. Both the year-over-year and sequential increases primarily reflect higher money market fees in Corporate Trust and higher dividend fees in Depositary Receipts.

• Treasury services fees were $131 million, a decrease of 4% both year-over-year and sequentially. Both decreases primarily reflect higher compensating balance credits provided to clients, which shifts revenue from fees to net interest revenue.

• Investment management and performance fees were $812 million, a decrease of 6% year-over-year, or 4% on a constant currency basis (Non-GAAP). Both the year-over-year decrease on a constant currency basis (Non-GAAP) and the sequential decrease of 6% primarily reflect lower equity market values and net outflows in 2015, partially offset by higher money market fees. The sequential decrease also reflects seasonally lower performance fees.

Page - 7

BNY Mellon 1Q16 Earnings Release

•	Foreign exchange and other trading revenue
	(in millions)	1Q16		4Q15		3Q15			2Q15		1Q15
	Foreign exchange	$	171	$	165	$	180		$	181	$	217
	Other trading revenue (loss)	4		8		(1		)	6		12
	Total foreign exchange and other trading revenue	$	175	$	173	$	179		$	187	$	229

Foreign exchange and other trading revenue totaled $175 million in 1Q16 compared with $229 million in 1Q15 and $173 million in 4Q15. In 1Q16, foreign exchange revenue totaled $171 million, a decrease of 21% year-over-year and an increase of 4% sequentially. The year-over-year decrease primarily reflects lower volumes.The sequential increase primarily reflects higher volatility, partially offset by the impact of foreign currency hedging activity. Excluding the impact of hedging activity, foreign exchange revenue increased 12% sequentially.

Other trading revenue was $4 million in 1Q16, compared with $12 million in 1Q15 and $8 million in 4Q15. Both decreases primarily reflect losses on hedging activities in the Investment Management businesses, partially offset by the positive impact of interest rate hedging (which is offset in net interest revenue) and higher fixed income trading revenue.

• Financing-related fees were $54 million in 1Q16 compared with $40 million in 1Q15 and $51 million in 4Q15. The year-over-year increase primarily reflects higher fees related to secured intraday credit. The sequential increase primarily reflects higher underwriting fees.

• Distribution and servicing fees were $39 million in 1Q16 compared with $41 million in both 1Q15 and 4Q15. Distribution and servicing fees were favorably impacted by higher money market fees, but were more than offset by certain fees paid to introducing brokers.

•	Investment and other income
	(in millions)	1Q16			4Q15			3Q15			2Q15			1Q15
	Lease-related gains (losses)	$	44		$	(8	)	$	—		$	54		$	(1	)
	Corporate/bank-owned life insurance	31			43			32			31			33
	Expense reimbursements from joint venture	17			16			16			17			14
	Seed capital gains (a)	11			10			7			2			16
	Private equity gains (losses)	2			—			1			3			(3		)
	Asset-related gains (losses)	—			5			(9		)	1			3
	Equity investment (losses)	(3		)	(2		)	(6		)	(7		)	(4		)
	Other income	3			29			18			3			2
	Total investment and other income	$	105		$	93		$	59		$	104		$	60

(a) Excludes the gain (loss) on seed capital investments in consolidated investment management funds which are reflected in operations of consolidated investment management funds, net of noncontrolling interests. The gain (loss) on seed capital investments in consolidated investment management funds was $1 million in 1Q16, $11 million in 4Q15, $(17) million in 3Q15, $3 million in 2Q15 and $21 million in 1Q15.

Investment and other income was $105 million in 1Q16 compared with $60 million in 1Q15 and $93 million in 4Q15. Both increases primarily reflect higher lease-related gains. The sequential increase was partially offset by lower other income reflecting the termination fees in our clearing business recorded in 4Q15 and lower income from corporate/bank-owned life insurance.

Page - 8

BNY Mellon 1Q16 Earnings Release

NET INTEREST REVENUE

Net interest revenue																1Q16 vs.
(dollars in millions)	1Q16			4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
Net interest revenue (non-FTE)	$	766		$	760		$	759		$	779		$	728		1%		5%
Net interest revenue (FTE) – Non-GAAP	780			774			773			794			743			1		5
Net interest margin (FTE)	1.01		%	0.99		%	0.98		%	1.00		%	0.97		%	2	bps	4	bps
Selected average balances:
Cash/interbank investments	$	127,624		$	128,328		$	130,090		$	125,626		$	123,647		(1	)%	3%
Trading account securities	3,320			2,786			2,737			3,253			3,046			19		9
Securities	118,538			119,532			121,188			128,641			123,476			(1	)	(4	)
Loans	61,196			61,964			61,657			61,076			57,935			(1	)	6
Interest-earning assets	310,678			312,610			315,672			318,596			308,104			(1	)	1
Interest-bearing deposits	162,017			160,334			169,753			170,716			159,520			1		2
Noninterest-bearing deposits	82,944			85,878			85,046			84,890			89,592			(3	)	(7	)
Selected average yields/rates:
Cash/interbank investments	0.43		%	0.32		%	0.32		%	0.34		%	0.35		%
Trading account securities	2.16			2.79			2.74			2.63			2.46
Securities	1.61			1.62			1.60			1.57			1.55
Loans	1.76			1.54			1.56			1.51			1.55
Interest-earning assets	1.16			1.08			1.08			1.08			1.07
Interest-bearing deposits	0.04			0.01			0.02			0.02			0.04
Average cash/interbank investments as a percentage of average interest-earning assets	41		%	41		%	41		%	39		%	40		%
Average noninterest-bearing deposits as a percentage of average interest-earning assets	27		%	27		%	27		%	27		%	29		%

FTE – fully taxable equivalent.

bps – basis points.

KEY POINTS

• Net interest revenue totaled $766 million in 1Q16, an increase of $38 million year-over-year and $6 million sequentially. Both increases primarily reflect higher yields on interest-earning assets, partially offset by higher rates paid on interest-bearing liabilities and the unfavorable impact of interest rate hedging activities (which are primarily offset in foreign exchange and other trading revenue).

Page - 9

BNY Mellon 1Q16 Earnings Release

NONINTEREST EXPENSE

Noninterest expense																1Q16 vs.
(dollars in millions)	1Q16			4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
Staff	$	1,459		$	1,481		$	1,437		$	1,434		$	1,485		(1	)%	(2	)%
Professional, legal and other purchased services	278			328			301			299			302			(15	)	(8	)
Software and equipment	219			225			226			228			228			(3	)	(4	)
Net occupancy	142			148			152			149			151			(4	)	(6	)
Distribution and servicing	100			92			95			96			98			9		2
Sub-custodian	59			60			65			75			70			(2	)	(16	)
Business development	57			75			59			72			61			(24	)	(7	)
Other	241			201			268			250			242			20		—
Amortization of intangible assets	57			64			66			65			66			(11	)	(14	)
M&I, litigation and restructuring charges (recoveries)	17			18			11			59			(3		)	N/M		N/M
Total noninterest expense – GAAP	$	2,629		$	2,692		$	2,680		$	2,727		$	2,700		(2	)%	(3	)%
Total staff expense as a percentage of total revenue	39		%	40		%	38		%	37		%	39		%
Memo:
Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges (recoveries) – Non-GAAP	$	2,555		$	2,610		$	2,603		$	2,603		$	2,637		(2	)%	(3	)%

N/M – Not meaningful.

KEY POINTS

• Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges (recoveries) (Non-GAAP) decreased 3% year-over-year and 2% sequentially.

• The year-over-year decrease reflects lower expenses in nearly all categories, primarily driven by the favorable impact of a stronger U.S. dollar, lower staff and legal expenses and the benefit of the business improvement process, partially offset by higher distribution and servicing expense. The savings generated by the business improvement process primarily reflects the benefits of our technology insourcing strategy and the implementation of our global real estate strategy.

- Staff expense decreased year-over-year primarily reflecting lower estimated 2016 incentives and a higher adjustment for the finalization of the annual incentive awards, partially offset by the curtailment gain related to the U.S. pension plan recorded in 1Q15 and higher severance expense in ongoing support of our business improvement process.

• The sequential decrease reflects lower expenses in all categories, except other and distribution and servicing expenses. The decrease in staff expense primarily reflects lower compensation and employee benefits expenses, partially offset by higher incentives, primarily due to the impact of vesting of long-term stock awards for retirement eligible employees. The increase in other expense primarily reflects the adjustments to bank assessment charges recorded in 4Q15. The increase in distribution and servicing expense is due to lower money market fee waivers.

Page - 10

BNY Mellon 1Q16 Earnings Release

INVESTMENT SECURITIES PORTFOLIO

At March 31, 2016, the fair value of our investment securities portfolio totaled $117.8 billion. The net unrealized pre-tax gain on our total securities portfolio was $1.2 billion at March 31, 2016 compared with $357 million at Dec. 31, 2015. The increase in the net unrealized pre-tax gain was primarily driven by a decline in market interest rates. At March 31, 2016, the fair value of the held-to-maturity securities totaled $42.2 billion and represented 36% of the fair value of the total investment securities portfolio.

The following table shows the distribution of our investment securities portfolio.

Investment securities portfolio (dollars in millions)	Dec. 31, 2015			1Q16 change in unrealized gain (loss)			March 31, 2016					Fair value as a % of amortized cost (a)		Unrealized gain (loss)				Ratings
																								BB+ and lower
	Fair value						Amortized cost		Fair value									AAA/ AA-		A+/ A-		BBB+/ BBB-				Not rated
Agency RMBS	$	49,464		$	523		$	49,468	$	49,870		101	%	$	402			100	%	—	%	—	%	—	%	—	%
U.S. Treasury	23,920			166			23,803		23,870			100		67				100		—		—		—		—
Sovereign debt/sovereign guaranteed	16,708			106			15,626		15,866			102		240				71		—		28		1		—
Non-agency RMBS (b)	1,789			(43		)	1,374		1,685			80		311				—		1		1		90		8
Non-agency RMBS	914			(10		)	858		862			93		4				7		4		18		70		1
European floating rate notes	1,345			(7		)	1,275		1,244			97		(31		)		66		29		5		—		—
Commercial MBS	5,826			62			5,983		6,003			100		20				96		3		1		—		—
State and political subdivisions	4,065			12			3,651		3,740			102		89				80		16		1		—		3
Foreign covered bonds	2,242			(6		)	2,244		2,279			102		35				100		—		—		—		—
Corporate bonds	1,752			35			1,690		1,737			103		47				16		68		16		—		—
CLO	2,351			(5		)	2,441		2,424			99		(17		)		100		—		—		—		—
U.S. Government agencies	1,810			(2		)	1,890		1,881			100		(9		)		100		—		—		—		—
Consumer ABS	2,893			4			2,420		2,408			99		(12		)		100		—		—		—		—
Other (c)	3,700			7			3,840		3,893			101		53				53		—		43		—		4
Total investment securities	$	118,779	(d)	$	842		$	116,563	$	117,762	(d)	100	%	$	1,199		(d)(e)	90	%	2	%	6	%	2	%	—	%

(a)    Amortized cost before impairments.

(b) These RMBS were included in the former Grantor Trust and were marked-to-market in 2009. We believe these RMBS would receive higher credit ratings if these ratings incorporated, as additional credit enhancements, the difference between the written-down amortized cost and the current face amount of each of these securities.

(c) Includes commercial paper with a fair value of $1.9 billion and $1.7 billion and money market funds with a fair value of $886 million and $862 million at Dec. 31, 2015 and March 31, 2016, respectively.

(d) Includes net unrealized losses on derivatives hedging securities available-for-sale of $292 million at Dec. 31, 2015 and $763 million at March 31, 2016.

(e) Unrealized gains of $685 million at March 31, 2016 related to available-for-sale securities.

Page - 11

BNY Mellon 1Q16 Earnings Release

NONPERFORMING ASSETS

Nonperforming assets (dollars in millions)	March 31, 2016			Dec. 31, 2015			March 31, 2015
Loans:
Financial institutions	$	171		$	171		$	—
Other residential mortgages	99			102			111
Wealth management loans and mortgages	11			11			12
Commercial	5			—			—
Commercial real estate	2			2			1
Total nonperforming loans	288			286			124
Other assets owned	4			6			4
Total nonperforming assets	$	292		$	292		$	128
Nonperforming assets ratio	0.48		%	0.46		%	0.21		%
Allowance for loan losses/nonperforming loans	56.3			54.9			153.2
Total allowance for credit losses/nonperforming loans	99.7			96.2			228.2

Nonperforming assets were $292 million at March 31, 2016, unchanged compared with Dec. 31, 2015.

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS

Allowance for credit losses, provision and net charge-offs (in millions)	March 31, 2016		Dec. 31, 2015			March 31, 2015
Allowance for credit losses - beginning of period	$	275	$	280		$	280
Provision for credit losses	10		163			2
Net (charge-offs) recoveries:
Financial institutions	—		(170		)	—
Other residential mortgages	2		2			1
Net (charge-offs) recoveries	2		(168		)	1
Allowance for credit losses - end of period	$	287	$	275		$	283
Allowance for loan losses	$	162	$	157		$	190
Allowance for lending-related commitments	125		118			93

The allowance for credit losses was $287 million at March 31, 2016, an increase of $12 million compared with $275 million at Dec. 31, 2015. Net recoveries were $2 million in 1Q16 reflected in the other residential mortgage portfolio.

Page - 12

BNY Mellon 1Q16 Earnings Release

CAPITAL AND LIQUIDITY

The common equity Tier 1 (“CET1”), Tier 1 and Total risk-based regulatory capital ratios in the first section of the table below are based on Basel III components of capital, as phased-in (referred to as “Transitional ratios”), and credit risk asset risk-weightings using the U.S. capital rules’ advanced approaches framework (the “Advanced Approach”) as the related risk-weighted assets (“RWA”) were higher when calculated under the Advanced Approach at March 31, 2016 and Dec. 31, 2015. Our risk-based capital adequacy is determined using the higher of RWA determined using the Advanced Approach and the U.S. capital rules’ standardized approach (the “Standardized Approach”). The leverage capital ratios are based on Basel III components of capital, as phased-in and quarterly average total assets. The transitional capital ratios for March 31, 2016 were negatively impacted by the additional phase-in requirements for 2016. Our consolidated capital ratios are shown in the following table.

Capital ratios	March 31, 2016		Dec. 31, 2015
Consolidated regulatory capital ratios: (a)(b)
CET1 ratio	10.6	%	10.8	%
Tier 1 capital ratio	12.0		12.3
Total (Tier 1 plus Tier 2) capital ratio	12.2		12.5
Leverage capital ratio	5.9		6.0
BNY Mellon shareholders’ equity to total assets ratio – GAAP (c)	10.3		9.7
BNY Mellon common shareholders’ equity to total assets ratio – GAAP (c)	9.6		9.0
BNY Mellon tangible common shareholders’ equity to tangible assets of operations ratio – Non-GAAP (c)	6.7		6.5
Selected regulatory capital ratios – fully phased-in – Non-GAAP: (a)
Estimated CET1 ratio:
Standardized Approach	11.0		10.2
Advanced Approach	9.8		9.5
Estimated supplementary leverage ratio (“SLR”) (d)	5.1		4.9

(a) Regulatory capital ratios for March 31, 2016 are preliminary.

(b) At March 31, 2016 and Dec. 31, 2015, the CET1, Tier 1 and Total risk-based consolidated regulatory capital ratios determined under the transitional Basel III Standardized Approach were 11.8%, 13.5%and 13.9%, respectively, and 11.5%, 13.1% and 13.5%, respectively.

(c) See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 25 for a reconciliation of these ratios.

(d) The estimated SLR on a fully phased-in basis (Non-GAAP) for our largest bank subsidiary, The Bank of New York Mellon, was 5.2% at March 31, 2016 and 4.8% at Dec. 31, 2015.

Estimated Basel III CET1 generation presented on a fully phased-in basis – Non-GAAP – preliminary
(in millions)	1Q16
Estimated fully phased-in Basel III CET1 – Non-GAAP – Beginning of period	$	16,082
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	804
Goodwill and intangible assets, net of related deferred tax liabilities	94
Gross Basel III CET1 generated	898
Capital deployed:
Dividends	(185		)
Common stock repurchased	(577		)
Total capital deployed	(762		)
Other comprehensive income	210
Additional paid-in capital (a)	170
Other	5
Total other deductions	385
Net Basel III CET1 generated	521
Estimated fully phased-in Basel III CET1 – Non-GAAP – End of period	$	16,603

(a)    Primarily related to stock awards, the exercise of stock options and stock issued for employee benefit plans.

Page - 13

BNY Mellon 1Q16 Earnings Release

The table presented below compares the fully phased-in Basel III capital components and ratios to those capital components and ratios determined on a transitional basis.

Basel III capital components and ratios at March 31, 2016 – preliminary	Fully phased-in Basel III - Non-GAAP			Transitional basis (a)
(dollars in millions)
CET1:
Common shareholders’ equity	$	35,907		$	36,229
Goodwill and intangible assets	(18,817		)	(17,760		)
Net pension fund assets	(93		)	(56		)
Equity method investments	(359		)	(324		)
Deferred tax assets	(23		)	(14		)
Other	(12		)	(9		)
Total CET1	16,603			18,066
Other Tier 1 capital:
Preferred stock	2,552			2,552
Trust preferred securities	—			—
Disallowed deferred tax assets	—			(9		)
Net pension fund assets	—			(37		)
Other	(8		)	(11		)
Total Tier 1 capital	19,147			20,561
Tier 2 capital:
Trust preferred securities	—			173
Subordinated debt	149			149
Allowance for credit losses	287			287
Other	(1		)	(2		)
Total Tier 2 capital - Standardized Approach	435			607
Excess of expected credit losses	39			39
Less: Allowance for credit losses	287			287
Total Tier 2 capital - Advanced Approach	$	187		$	359
Total capital:
Standardized Approach	$	19,582		$	21,168
Advanced Approach	$	19,334		$	20,920
Risk-weighted assets:
Standardized Approach	$	151,397		$	152,682
Advanced Approach	$	169,752		$	171,114
Standardized Approach:
Estimated Basel III CET1 ratio	11.0		%	11.8		%
Tier 1 capital ratio	12.6			13.5
Total (Tier 1 plus Tier 2) capital ratio	12.9			13.9
Advanced Approach:
Estimated Basel III CET1 ratio	9.8		%	10.6		%
Tier 1 capital ratio	11.3			12.0
Total (Tier 1 plus Tier 2) capital ratio	11.4			12.2

(a)    Reflects transitional adjustments to CET1, Tier 1 capital and Tier 2 capital required in 2016 under the U.S. capital rules.

BNY Mellon has presented its estimated fully phased-in Basel III CET1 and other risk-based capital ratios and SLR based on its interpretation of the U.S. capital rules, which are being gradually phased-in over a multi-year period, and on the application of such rules to BNY Mellon’s businesses as currently conducted. Management views the estimated fully phased-in Basel III CET1 and other risk-based capital ratios and SLR as key measures in monitoring BNY Mellon’s capital position and progress against future regulatory capital standards. Additionally, the presentation of the estimated fully phased-in Basel III CET1 and other risk-based capital ratios and SLR are intended to allow investors to compare these ratios with estimates presented by other companies.

Page - 14

BNY Mellon 1Q16 Earnings Release

Our capital and liquidity ratios are necessarily subject to, among other things, BNY Mellon’s further review of applicable rules, anticipated compliance with all necessary enhancements to model calibration, approval by regulators of certain models used as part of RWA calculations, other refinements, further implementation guidance from regulators, market practices and standards and any changes BNY Mellon may make to its businesses. Consequently, our capital and liquidity ratios remain subject to ongoing review and revision and may change based on these factors.

Supplementary Leverage Ratio (“SLR”)

The following table presents the components of our estimated SLR using fully phased-in Basel III components of capital.

Estimated fully phased-in SLR – Non-GAAP (a) (dollars in millions)	March 31, 2016			(b)	Dec. 31, 2015
Total estimated fully phased-in Basel III CET1 – Non-GAAP	$	16,603			$	16,082
Additional Tier 1 capital	2,544				2,530
Total Tier 1 capital	$	19,147			$	18,612
Total leverage exposure:
Quarterly average total assets	$	364,554			$	368,590
Less: Amounts deducted from Tier 1 capital	19,304				19,403
Total on-balance sheet assets, as adjusted	345,250				349,187
Off-balance sheet exposures:
Potential future exposure for derivatives contracts (plus certain other items)	5,838				7,158
Repo-style transaction exposures included in SLR	403				440
Credit-equivalent amount of other off-balance sheet exposures (less SLR exclusions)	24,950				26,025
Total off-balance sheet exposures	31,191				33,623
Total leverage exposure	$	376,441			$	382,810
Estimated fully phased-in SLR – Non-GAAP	5.1		%	(c)	4.9		%

(a) The estimated fully phased-in SLR (Non-GAAP) is based on our interpretation of the U.S. capital rules. When the SLR is fully phased-in in 2018, we expect to maintain an SLR of over 5%. The minimum required SLR is 3% and there is a 2% buffer, in addition to the minimum, that is applicable to U.S. G-SIBs.

(b) March 31, 2016 information is preliminary.

(c) The estimated SLR on a fully phased-in basis (Non-GAAP) for our largest bank subsidiary, The Bank of New York Mellon, was 5.2% at March 31, 2016 and 4.8% at Dec. 31, 2015. At March 31, 2016 and Dec. 31, 2015, total Tier 1 capital was $16,167 million and $15,142 million, respectively, and total leverage exposure was $312,988 million and $316,270 million, respectively, for The Bank of New York Mellon.

Liquidity Coverage Ratio (“LCR”)

The U.S. LCR rules became effective Jan. 1, 2015 and currently require BNY Mellon to meet an LCR of 90%, increasing to 100% when fully phased-in on Jan. 1, 2017. Our estimated LCR on a consolidated basis is compliant with the fully phased-in requirements of the U.S. LCR as of March 31, 2016 based on our understanding of the U.S. LCR rules. Our consolidated high-quality liquid assets (“HQLA”) before haircuts, totaled $202 billion at March 31, 2016, compared with $218 billion at Dec. 31, 2015.

Page - 15

BNY Mellon 1Q16 Earnings Release

REVIEW OF BUSINESSES

Segment results are subject to reclassification whenever improvements are made in the measurement principles or when organizational changes are made. In the first quarter of 2016, we reclassified the results of the credit-related activities to the Investment Services segment from the Other segment. This reclassification reflects our strategy to provide credit services to our Investment Services clients and did not impact the consolidated results. Also, concurrent with this reclassification, the provision for credit losses associated with the respective credit portfolios is now reflected in each business segment. All prior periods have been restated.

Beginning in the first quarter of 2016, we revised the net interest revenue for our business to reflect adjustments to our transfer pricing methodology to better reflect the value of certain deposits. Also beginning in the first quarter of 2016, we refined the expense allocation process for indirect expenses to simplify the expenses recorded in the Other segment to include only expenses not directly attributable to the Investment Management and Investment Services operations. These changes did not impact the consolidated results.

Page - 16

BNY Mellon 1Q16 Earnings Release

INVESTMENT MANAGEMENT provides investment management services to institutional and retail investors, as well as investment management, wealth and estate planning and private banking solutions to high net worth individuals and families, and foundations and endowments.

(dollars in millions, unless otherwise noted)																	1Q16 vs.
	1Q16				4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
Revenue:
Investment management fees:
Mutual funds	$	300			$	294		$	301		$	312		$	301		2	%	—	%
Institutional clients	334				350			347			363			365			(5	)	(8	)
Wealth management	152				155			156			160			159			(2	)	(4	)
Investment management fees	786				799			804			835			825			(2	)	(5	)
Performance fees	11				55			7			20			15			N/M		(27	)
Investment management and performance fees	797				854			811			855			840			(7	)	(5	)
Distribution and servicing	46				39			37			38			38			18		21
Other (a)	(31		)		22			(5		)	17			41			N/M		N/M
Total fee and other revenue (a)	812				915			843			910			919			(11	)	(12	)
Net interest revenue	83				84			83			77			75			(1	)	11
Total revenue	895				999			926			987			994			(10	)	(10	)
Noninterest expense (ex. amortization of intangible assets)	660				689			665			700			708			(4	)	(7	)
Income before taxes (ex. provision for credit losses and amortization of intangible assets)	235				310			261			287			286			(24	)	(18	)
Provision for credit losses	(1		)		(4		)	1			3			(1		)	N/M		N/M
Amortization of intangible assets	19				24			24			25			24			(21	)	(21	)
Income before taxes	$	217			$	290		$	236		$	259		$	263		(25	)%	(17	)%
Pre-tax operating margin	24		%		29		%	25		%	26		%	26		%
Adjusted pre-tax operating margin (b)	30		%		36		%	34		%	34		%	34		%
Changes in AUM (in billions): (c)
Beginning balance of AUM	$	1,625			$	1,625		$	1,700		$	1,717		$	1,686
Net inflows (outflows):
Long-term:
Equity	(3		)		(9		)	(4		)	(13		)	(5		)
Fixed income	—				1			(3		)	(2		)	3
Liability-driven investments (d)	14				11			11			5			8
Alternative investments	1				2			1			3			1
Total long-term active inflows (outflows)	12				5			5			(7		)	7
Index	(11		)		(16		)	(10		)	(9		)	8
Total long-term inflows (outflows)	1				(11		)	(5		)	(16		)	15
Short term:
Cash	(9		)		2			(10		)	(11		)	1
Total net (outflows) inflows	(8		)		(9		)	(15		)	(27		)	16
Net market/currency impact/acquisition	22				9			(60		)	10			15
Ending balance of AUM	$	1,639		(e)	$	1,625		$	1,625		$	1,700		$	1,717		1	%	(5	)%
AUM at period end, by product type: (c)
Equity	14		%		14		%	14		%	15		%	15		%
Fixed income	13				13			13			13			12
Index	19				20			20			21			22
Liability-driven investments (d)	33				32			32			30			30
Alternative investments	4				4			4			4			4
Cash	17				17			17			17			17
Total AUM	100		%	(e)	100		%	100		%	100		%	100		%
Average balances:
Average loans	$	14,275			$	13,447		$	12,779		$	12,298		$	11,634		6	%	23	%
Average deposits	$	15,971			$	15,497		$	15,282		$	14,638		$	15,217		3	%	5	%

(a) Total fee and other revenue includes the impact of the consolidated investment management funds, net of noncontrolling interests. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 25 for the reconciliation of Non-GAAP measures. Additionally, other revenue includes asset servicing, treasury services, foreign exchange and other trading revenue and investment and other income.

(b) Excludes the net negative impact of money market fee waivers, amortization of intangible assets and provision for credit losses and is net of distribution and servicing expense. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 25 for the reconciliation of this Non-GAAP measure.

(c) Excludes securities lending cash management assets and assets managed in the Investment Services business.

(d) Includes currency overlay assets under management.

(e) Preliminary.

N/M – Not meaningful.

Page - 17

BNY Mellon 1Q16 Earnings Release

INVESTMENT MANAGEMENT KEY POINTS

• Assets under management were $1.64 trillion at March 31, 2016, a decrease of 5% year-over-year and an increase of 1% sequentially. The year-over-year decrease primarily reflects net outflows primarily in 2015 and the unfavorable impact of a stronger U.S. dollar (principally versus the British pound).

• Net long-term inflows of $1 billion in 1Q16 were driven by continued strength in liability-driven investments offset by outflows of index and equity investments.

• Net short-term outflows were $9 billion in 1Q16.

• Income before taxes, excluding provision for credit losses and amortization of intangible assets, totaled $235 million in 1Q16, a decrease of 18% year-over-year and 24% sequentially.

• Total revenue was $895 million, a decrease of 10% year-over-year and 10% sequentially.

• 40% non-U.S. revenue in 1Q16 vs. 41% in 1Q15.

• Investment management fees were $786 million, a decrease of 5% year-over-year, or 3% on a constant currency basis (Non-GAAP). Both the year-over-year decrease on a constant currency basis (Non-GAAP) and the 2% sequential decrease primarily reflect lower equity market values and net outflows in 2015, partially offset by higher money market fees.

• Performance fees were $11 million in 1Q16 compared with $15 million in 1Q15 and $55 million in 4Q15. The sequential decrease was driven by seasonality.

• Distribution and servicing fees were $46 million in 1Q16 compared with $38 million in 1Q15 and $39 million in 4Q15. Both increases primarily reflect higher money market fees.

• Other losses were $31 million in 1Q16 compared with other revenue of $41 million in 1Q15 and other revenue of $22 million in 4Q15. Both decreases primarily reflect lower seed capital gains, losses on hedging activities and increased payments to Investment Services related to higher money market fees.

• Net interest revenue increased 11% year-over-year and decreased 1% sequentially. Both comparisons primarily reflect record average loans and deposits, partially offset by the impact of changes in the internal crediting rates for deposits beginning in 1Q16.

• Average loans increased 23% year-over-year and 6% sequentially; average deposits increased 5% year-over-year and 3% sequentially.

• Total noninterest expense (excluding amortization of intangible assets) decreased 7% year-over-year and 4% sequentially. Both decreases primarily reflect lower incentive and business development expenses and a lower indirect expense allocation beginning in 1Q16, partially offset by higher distribution and servicing expense driven by lower money market fee waivers. The year-over-year decrease also reflects the favorable impact of a stronger U.S. dollar.

Page - 18

BNY Mellon 1Q16 Earnings Release

INVESTMENT SERVICES provides global custody and related services, broker-dealer services, global collateral services, corporate trust, depositary receipt and clearing services as well as global payment/working capital solutions to global financial institutions and credit-related activities. In the first quarter of 2016, we reclassified the results of the credit-related activities to the Investment Services segment from the Other segment. All prior periods have been restated.

(dollars in millions, unless otherwise noted)																	1Q16 vs.
	1Q16				4Q15			3Q15			2Q15			1Q15			4Q15		1Q15
Revenue:
Investment services fees:
Asset servicing	$	1,016			$	1,009		$	1,034		$	1,038		$	1,017		1	%	—	%
Clearing services	348				337			345			346			342			3		2
Issuer services	244				199			312			234			231			23		6
Treasury services	129				135			135			141			135			(4	)	(4	)
Total investment services fees	1,737				1,680			1,826			1,759			1,725			3		1
Foreign exchange and other trading revenue	168				150			179			181			212			12		(21	)
Other (a)	125				127			129			117			92			(2	)	36
Total fee and other revenue	2,030				1,957			2,134			2,057			2,029			4		—
Net interest revenue	679				664			662			667			629			2		8
Total revenue	2,709				2,621			2,796			2,724			2,658			3		2
Noninterest expense (ex. amortization of intangible assets)	1,770				1,791			1,853			1,874			1,822			(1	)	(3	)
Income before taxes (ex. provision for credit losses and amortization of intangible assets)	939				830			943			850			836			13		12
Provision for credit losses	14				8			7			6			7			N/M		N/M
Amortization of intangible assets	38				40			41			40			41			(5	)	(7	)
Income before taxes	$	887			$	782		$	895		$	804		$	788		13	%	13%
Pre-tax operating margin	33		%		30		%	32		%	30		%	30		%
Pre-tax operating margin (ex. provision for credit losses and amortization of intangible assets)	35		%		32		%	34		%	31		%	31		%
Investment services fees as a percentage of noninterest expense (b)	99		%		95		%	99		%	97		%	95		%
Securities lending revenue	$	42			$	39		$	33		$	43		$	38		8	%	11	%
Metrics:
Average loans	$	45,004			$	45,844		$	46,222		$	45,822		$	45,071		(2	)%	—	%
Average deposits	$	215,707			$	229,241		$	232,250		$	238,404		$	235,524		(6	)%	(8	)%
AUC/A at period end (in trillions) (c)	$	29.1		(d)	$	28.9		$	28.5		$	28.6		$	28.5		1	%	2	%
Market value of securities on loan at period end (in billions) (e)	$	300			$	277		$	288		$	283		$	291		8	%	3	%
Asset servicing:
Estimated new business wins (AUC/A) (in billions)	$	40		(d)	$	49		$	84		$	933		$	125
Depositary Receipts:
Number of sponsored programs	1,131				1,145			1,176			1,206			1,258			(1	)%	(10	)%
Clearing services:
Average active clearing accounts (U.S. platform) (in thousands)	5,947				5,959			6,107			6,046			5,979			—	%	(1	)%
Average long-term mutual fund assets (U.S. platform)	$	415,025			$	437,260		$	447,287		$	466,195		$	456,954		(5	)%	(9	)%
Average investor margin loans (U.S. platform)	$	11,063			$	11,575		$	11,806		$	11,890		$	11,232		(4	)%	(2	)%
Broker-Dealer:
Average tri-party repo balances (in billions)	$	2,104			$	2,153		$	2,142		$	2,174		$	2,153		(2	)%	(2	)%

(a) Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue and investment and other income.

(b) Noninterest expense excludes amortization of intangible assets and litigation expense.

(c) Includes the AUC/A of CIBC Mellon of $1.1 trillion at March 31, 2016, $1.0 trillion at Dec. 31, 2015 and Sept. 30, 2015 and $1.1 trillion at June 30, 2015 and March 31, 2015.

(d) Preliminary.

(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $56 billion at March 31, 2016, $55 billion at Dec. 31, 2015, $61 billion atSept. 30, 2015,$68 billion at June 30, 2015and $69 billion at March 31, 2015.

N/M - Not meaningful.

Page - 19

BNY Mellon 1Q16 Earnings Release

INVESTMENT SERVICES KEY POINTS

• Income before taxes, excluding the provision for credit losses and amortization of intangible assets, totaled $939 million in 1Q16.

• The pre-tax operating margin, excluding the provision for credit losses and amortization of intangible assets, was 35% in 1Q16 and the investment services fees as a percentage of noninterest expense was 99% in 1Q16, reflecting the continued focus on the business improvement process to drive operating leverage.

• Investment services fees were $1.7 billion, an increase of 1% year-over-year and 3% sequentially.

• Asset servicing fees (global custody, broker-dealer services and global collateral services) were $1.016 billion in 1Q16 compared with $1.017 billion in 1Q15 and $1.009 billion in 4Q15. Both comparisons primarily reflect net new business and higher securities lending revenue, offset by lower market values. The year-over-year comparison also reflects the unfavorable impact of a stronger U.S. dollar.

--    Estimated new business wins (AUC/A) in Asset Servicing of $40 billion in 1Q16.

• Clearing services fees were $348 million in 1Q16 compared with $342 million in 1Q15 and $337 million in 4Q15. Both increases primarily reflect higher money market fees, partially offset by the impact of lost business. The sequential increase also reflects higher volumes.

• Issuer services fees (Corporate Trust and Depositary Receipts) were $244 million in 1Q16 compared with $231 million in 1Q15 and $199 million in 4Q15. Both the year-over-year and sequential increases primarily reflect higher money market fees in Corporate Trust and higher dividend fees in Depositary Receipts.

• Treasury services fees were $129 million in 1Q16 compared with $135 million in 1Q15 and $135 million in 4Q15. Both decreases primarily reflect higher compensating balance credits provided to clients, which shifts revenue from fees to net interest revenue.

• Foreign exchange and other trading revenue was $168 million in 1Q16 compared with $212 million in 1Q15 and $150 million in 4Q15. The year-over-year decrease primarily reflects lower volumes. The sequential increase primarily reflects higher volatility.

• Other revenue was $125 million in 1Q16 compared with $92 million in 1Q15 and $127 million in 4Q15. The year-over-year increase primarily reflects higher financing related fees. The sequential decrease primarily reflects termination fees in clearing service recorded in 4Q15. Both comparisons also reflect increased payment from Investment Management related to higher money market fees, partially offset by certain fees paid to introducing brokers.

• Net interest revenue was $679 million in 1Q16 compared with $629 million in 1Q15 and $664 million in 4Q15. Both increases primarily reflect the impact of changes in the internal crediting rates for deposits beginning in 1Q16, partially offset by lower average loans and deposits.

• Noninterest expense (excluding amortization of intangible assets) was $1.77 billion in 1Q16 compared with $1.82 billion in 1Q15 and $1.79 billion in 4Q15. Both decreases primarily reflect lower staff and professional, legal and other purchased services expenses. The year-over-year decrease was partially offset by higher litigation expense. The sequential decrease was partially offset by an adjustment to bank assessment charges recorded in 4Q15.

Page - 20

BNY Mellon 1Q16 Earnings Release

OTHER SEGMENT primarily includes leasing operations, corporate treasury activities, derivatives, global markets and institutional banking services, business exits and other corporate revenue and expense items. In the first quarter of 2016, we reclassified the results of the credit-related activities from the Other segment to the Investment Services segment. All prior periods have been restated.

(dollars in millions)	1Q16			4Q15			3Q15			2Q15			1Q15
Revenue:
Fee and other revenue	$	129		$	89		$	59		$	103		$	85
Net interest revenue	4			12			14			35			24
Total revenue	133			101			73			138			109
Noninterest expense (ex. amortization of intangible assets and restructuring (recoveries) charges)	141			150			97			79			108
(Loss) income before taxes (ex. amortization of intangible assets and restructuring charges (recoveries))	(8		)	(49		)	(24		)	59			1
Provision for credit losses	(3		)	159			(7		)	(15		)	(4		)
Amortization of intangible assets	—			—			1			—			1
Restructuring (recoveries) charges	(1		)	(4		)	(2		)	8			(4		)
(Loss) income before taxes	$	(4	)	$	(204	)	$	(16	)	$	66		$	8
Average loans and leases	$	1,917		$	2,673		$	2,656		$	2,956		$	1,230

KEY POINTS

• Total fee and other revenue increased$44 million compared with 1Q15 and $40 million compared with 4Q15. Both increases primarily reflect lease-related gains. The sequential increase is partially offset by lower income from corporate/bank-owned life insurance.

• Net interest revenue decreased$20 million compared with 1Q15 and $8 million compared with 4Q15. Both decreases primarily reflect the impact of changes in the internal crediting rates to the businesses for deposits beginning in 1Q16.

• The provision for credit losses was a credit of $3 million in 1Q16. The provision for credit losses of $159 million in 4Q15 reflects the impairment charge recorded in 4Q15 related to a court decision.

• Noninterest expense, excluding amortization of intangible assets and restructuring (recoveries) charges, increased$33 million compared with 1Q15 and decreased$9 million compared with 4Q15. The year-over-year increase primarily reflects the curtailment gain related to the U.S. pension plan recorded in 1Q15. The sequential decrease primarily reflects the adjustment to employee benefits expense recorded in 4Q15 driven by updated information received from an administrator of our health care benefits. Both comparisons also reflect higher severance expense recorded in 1Q16 in ongoing support of our business improvement process.

Page - 21

BNY Mellon 1Q16 Earnings Release

THE BANK OF NEW YORK MELLON CORPORATION

Condensed Consolidated Income Statement

(in millions)	Quarter ended
	March 31, 2016			Dec. 31, 2015			March 31, 2015
Fee and other revenue
Investment services fees:
Asset servicing	$	1,040		$	1,032		$	1,038
Clearing services	350			339			344
Issuer services	244			199			232
Treasury services	131			137			137
Total investment services fees	1,765			1,707			1,751
Investment management and performance fees	812			864			867
Foreign exchange and other trading revenue	175			173			229
Financing-related fees	54			51			40
Distribution and servicing	39			41			41
Investment and other income	105			93			60
Total fee revenue	2,950			2,929			2,988
Net securities gains	20			21			24
Total fee and other revenue	2,970			2,950			3,012
Operations of consolidated investment management funds
Investment (loss) income	(3		)	19			56
Interest of investment management fund note holders	3			3			4
(Loss) income from consolidated investment management funds	(6		)	16			52
Net interest revenue
Interest revenue	883			834			807
Interest expense	117			74			79
Net interest revenue	766			760			728
Provision for credit losses	10			163			2
Net interest revenue after provision for credit losses	756			597			726
Noninterest expense
Staff	1,459			1,481			1,485
Professional, legal and other purchased services	278			328			302
Software and equipment	219			225			228
Net occupancy	142			148			151
Distribution and servicing	100			92			98
Sub-custodian	59			60			70
Business development	57			75			61
Other	241			201			242
Amortization of intangible assets	57			64			66
M&I, litigation and restructuring charges (recoveries)	17			18			(3		)
Total noninterest expense	2,629			2,692			2,700
Income
Income before income taxes	1,091			871			1,090
Provision for income taxes	283			175			280
Net income	808			696			810
Net loss (income) attributable to noncontrolling interests (includes $7, $(5) and $(31) related to consolidated investment management funds, respectively)	9			(3		)	(31		)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	817			693			779
Preferred stock dividends	(13		)	(56		)	(13		)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	804		$	637		$	766

Page - 22

BNY Mellon 1Q16 Earnings Release

THE BANK OF NEW YORK MELLON CORPORATION

Condensed Consolidated Income Statement - continued

Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation	Quarter ended
	March 31, 2016		Dec. 31, 2015		March 31, 2015
(in millions)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	804	$	637	$	766
Less: Earnings allocated to participating securities	11		9		12
Net income applicable to the common shareholders of The Bank of New York Mellon Corporation after required adjustments for the calculation of basic and diluted earnings per common share	$	793	$	628	$	754

Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation	Quarter ended
	March 31, 2016	Dec. 31, 2015	March 31, 2015
(in thousands)
Basic	1,079,641	1,088,880	1,118,602
Diluted	1,085,284	1,096,385	1,126,306

Earnings per share applicable to the common shareholders of The Bank of New York Mellon Corporation	Quarter ended
	March 31, 2016		Dec. 31, 2015		March 31, 2015
(in dollars)
Basic	$	0.73	$	0.58	$	0.67
Diluted	$	0.73	$	0.57	$	0.67

Page - 23

BNY Mellon 1Q16 Earnings Release

THE BANK OF NEW YORK MELLON CORPORATION

Consolidated Balance Sheet

(dollars in millions, except per share amounts)	March 31, 2016			Dec. 31, 2015
Assets
Cash and due from:
Banks	$	3,928		$	6,537
Interest-bearing deposits with the Federal Reserve and other central banks	96,426			113,203
Interest-bearing deposits with banks	14,662			15,146
Federal funds sold and securities purchased under resale agreements	26,904			24,373
Securities:
Held-to-maturity (fair value of $42,231 and $43,204)	41,717			43,312
Available-for-sale	76,294			75,867
Total securities	118,011			119,179
Trading assets	6,526			7,368
Loans	61,661			63,703
Allowance for loan losses	(162		)	(157		)
Net loans	61,499			63,546
Premises and equipment	1,377			1,379
Accrued interest receivable	545			562
Goodwill	17,604			17,618
Intangible assets	3,781			3,842
Other assets	20,307			19,626
Subtotal assets of operations	371,570			392,379
Assets of consolidated investment management funds, at fair value:
Trading assets	1,186			1,228
Other assets	114			173
Subtotal assets of consolidated investment management funds, at fair value	1,300			1,401
Total assets	$	372,870		$	393,780
Liabilities
Deposits:
Noninterest-bearing (principally U.S. offices)	$	93,005		$	96,277
Interest-bearing deposits in U.S. offices	52,124			51,704
Interest-bearing deposits in Non-U.S. offices	112,213			131,629
Total deposits	257,342			279,610
Federal funds purchased and securities sold under repurchase agreements	14,803			15,002
Trading liabilities	5,283			4,501
Payables to customers and broker-dealers	22,008			21,900
Other borrowed funds	828			523
Accrued taxes and other expenses	5,288			5,986
Other liabilities (includes allowance for lending-related commitments of $125 and $118)	6,093			5,490
Long-term debt	21,686			21,547
Subtotal liabilities of operations	333,331			354,559
Liabilities of consolidated investment management funds, at fair value:
Trading liabilities	245			229
Other liabilities	9			17
Subtotal liabilities of consolidated investment management funds, at fair value	254			246
Total liabilities	333,585			354,805
Temporary equity
Redeemable noncontrolling interests	169			200
Permanent equity
Preferred stock – par value $0.01 per share; authorized 100,000,000 shares; issued 25,826 and 25,826 shares	2,552			2,552
Common stock – par value $0.01 per share; authorized 3,500,000,000 shares; issued 1,320,883,792 and 1,312,941,113 shares	13			13
Additional paid-in capital	25,432			25,262
Retained earnings	20,593			19,974
Accumulated other comprehensive loss, net of tax	(2,390		)	(2,600		)
Less: Treasury stock of 243,801,160 and 227,598,128 common shares, at cost	(7,741		)	(7,164		)
Total The Bank of New York Mellon Corporation shareholders’ equity	38,459			38,037
Nonredeemable noncontrolling interests of consolidated investment management funds	657			738
Total permanent equity	39,116			38,775
Total liabilities, temporary equity and permanent equity	$	372,870		$	393,780

Page - 24

BNY Mellon 1Q16 Earnings Release

SUPPLEMENTAL INFORMATION – EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES

BNY Mellon has included in this Earnings Release certain Non-GAAP financial measures based on fully phased-in Basel III CET1 and other risk-based capital ratios, SLR and tangible common shareholders’ equity. BNY Mellon believes that the Basel III CET1 and other risk-based capital ratios on a fully phased-in basis, the SLR on a fully phased-in basis and the ratio of tangible common shareholders’ equity to tangible assets of operations are measures of capital strength that provide additional useful information to investors, supplementing the capital ratios which are, or were, required by regulatory authorities. The tangible common shareholders’ equity ratio includes changes in investment securities valuations which are reflected in total shareholders’ equity. In addition, this ratio is expressed as a percentage of the actual book value of assets, as opposed to a percentage of a risk-based reduced value established in accordance with regulatory requirements, although BNY Mellon in its reconciliation has excluded certain assets which are given a zero percent risk-weighting for regulatory purposes and the assets of consolidated investment management funds to which BNY Mellon has limited economic exposure. Further, BNY Mellon believes that the return on tangible common equity measure, which excludes goodwill and intangible assets net of deferred tax liabilities, is a useful additional measure for investors because it presents a measure of those assets that can generate income. BNY Mellon has provided a measure of tangible book value per common share, which it believes provides additional useful information as to the level of tangible assets in relation to shares of common stock outstanding.

BNY Mellon has presented revenue measures which exclude the effect of noncontrolling interests related to consolidated investment management funds, and expense measures which exclude M&I, litigation and restructuring charges (recoveries) and amortization of intangible assets. Earnings per share, return on equity, operating leverage and operating margin measures, which exclude some or all of these items, as well as the impairment charge related to a prior court decision, are also presented. Operating margin measures may also exclude amortization of intangible assets and the net negative impact of money market fee waivers, net of distribution and servicing expense. BNY Mellon believes that these measures are useful to investors because they permit a focus on period-to-period comparisons, which relate to the ability of BNY Mellon to enhance revenues and limit expenses in circumstances where such matters are within BNY Mellon’s control. The excluded items, in general, relate to certain charges as a result of prior transactions. M&I expenses primarily relate to acquisitions and generally continue for approximately three years after the transaction. Litigation charges represent accruals for loss contingencies that are both probable and reasonably estimable, but exclude standard business-related legal fees. Restructuring charges relate to our streamlining actions, Operational Excellence Initiatives and migrating positions to Global Delivery Centers. Excluding these charges mentioned above permits investors to view expenses on a basis consistent with how management views the business.

The presentation of revenue growth 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. BNY Mellon believes 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.

The presentation of income (loss) from consolidated investment management funds, net of net income (loss) attributable to noncontrolling interests related to the consolidation of certain investment management funds permits investors to view revenue on a basis consistent with how management views the business. BNY Mellon believes that these presentations, as a supplement to GAAP information, give investors a clearer picture of the results of its primary businesses.

In this Earnings Release, the net interest margin is presented on an FTE basis. We believe that this presentation provides comparability 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. Each of these measures as described above is used by management to monitor financial performance, both on a company-wide and on a business-level basis.

Page - 25

BNY Mellon 1Q16 Earnings Release

The following table presents the reconciliation of diluted earnings per share and the net income applicable to common shareholders of The Bank of New York Mellon Corporation.

Reconciliation of net income and diluted EPS – GAAP to Non-GAAP	4Q15
(in millions, except per share amounts)	Diluted EPS		Net income
Net income applicable to common shareholders of The Bank of New York Mellon Corporation - GAAP	$	0.57	$	637
Add: Litigation and restructuring charges	0.01		12
Impairment charge related to a prior court decision	0.10		106
Non-GAAP results	$	0.68	$	755

The following table presents the reconciliation of the pre-tax operating margin ratio.

Reconciliation of income before income taxes – pre-tax operating margin
(dollars in millions)	1Q16			4Q15			3Q15			2Q15			1Q15
Income before income taxes – GAAP	$	1,091		$	871		$	1,109		$	1,165		$	1,090
Less: Net (loss) income attributable to noncontrolling interests of consolidated investment management funds	(7		)	5			(5		)	37			31
Add: Amortization of intangible assets	57			64			66			65			66
M&I, litigation and restructuring charges (recoveries)	17			18			11			59			(3		)
Impairment charge related to a prior court decision	—			170			—			—			—
Income before income taxes, as adjusted – Non-GAAP (a)	$	1,172		$	1,118		$	1,191		$	1,252		$	1,122
Fee and other revenue – GAAP	$	2,970		$	2,950		$	3,053		$	3,067		$	3,012
(Loss) income from consolidated investment management funds – GAAP	(6		)	16			(22		)	40			52
Net interest revenue – GAAP	766			760			759			779			728
Total revenue – GAAP	3,730			3,726			3,790			3,886			3,792
Less: Net (loss) income attributable to noncontrolling interests of consolidated investment management funds	(7		)	5			(5		)	37			31
Total revenue, as adjusted – Non-GAAP (a)	$	3,737		$	3,721		$	3,795		$	3,849		$	3,761
Pre-tax operating margin (b)(c)	29		%	23		%	29		%	30		%	29		%
Pre-tax operating margin – Non-GAAP (a)(b)(c)	31		%	30		%	31		%	33		%	30		%

(a) Non-GAAP excludes net (loss) income attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets, M&I, litigation and restructuring charges (recoveries) and the impairment charge related to a prior court decision, if applicable.

(b) Income before taxes divided by total revenue.

(c) Our GAAP earnings include tax-advantaged investments such as low income housing, renewable energy, bank-owned life insurance and tax-exempt securities. The benefits of these investments are primarily reflected in tax expense. If reported on a tax-equivalent basis these investments would increase revenue and income before taxes by $77 million for 1Q16, $73 million for 4Q15, $53 million for 3Q15, $52 million for 2Q15 and $64 million for 1Q15 and would increase our pre-tax operating margin by approximately 1.4% for 1Q16, 1.5% for 4Q15, 1.0% for 3Q15, 0.9% for 2Q15 and 1.2% for 1Q15.

Page - 26

BNY Mellon 1Q16 Earnings Release

The following table presents the reconciliation of the pre-tax operating leverage.

Pre-tax operating leverage							1Q16 vs.
(dollars in millions)	1Q16			1Q15			1Q15
Total revenue - GAAP	$	3,730		$	3,792
Less: Net (loss) income attributable to noncontrolling interests of consolidated investment management funds	(7		)	31
Total revenue, as adjusted - Non-GAAP	$	3,737		$	3,761		(0.64)%
Total noninterest expense - GAAP	$	2,629		$	2,700
Less: Amortization of intangible assets	57			66
M&I, litigation and restructuring charges (recoveries)	17			(3		)
Total noninterest expense, as adjusted - Non-GAAP	$	2,555		$	2,637		(3.11)%
Pre-tax operating leverage, as adjusted - Non-GAAP (a)(b)							247	bps

(a) Pre-tax operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.

(b) Non-GAAP adjustments include amortization of intangible assets and M&I, litigation and restructuring charges (recoveries), if applicable.

bps - basis points.

The following table presents the reconciliation of the returns on common equity and tangible common equity.

Return on common equity and tangible common equity
(dollars in millions)	1Q16			4Q15			3Q15			2Q15			1Q15
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	804		$	637		$	820		$	830		$	766
Add:  Amortization of intangible assets, net of tax	37			42			43			44			43
Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets – Non-GAAP	841			679			863			874			809
Add: M&I, litigation and restructuring charges (recoveries)	11			12			8			38			(2		)
Impairment charge related to a prior court decision	—			106			—			—			—
Net income applicable to common shareholders of The Bank of New York Mellon Corporation, as adjusted – Non-GAAP (a)	$	852		$	797		$	871		$	912		$	807
Average common shareholders’ equity	$	35,252		$	35,664		$	35,588		$	35,516		$	35,486
Less: Average goodwill	17,562			17,673			17,742			17,752			17,756
Average intangible assets	3,812			3,887			3,962			4,031			4,088
Add: Deferred tax liability – tax deductible goodwill (b)	1,428			1,401			1,379			1,351			1,362
Deferred tax liability – intangible assets (b)	1,140			1,148			1,164			1,179			1,200
Average tangible common shareholders’ equity – Non-GAAP	$	16,446		$	16,653		$	16,427		$	16,263		$	16,204
Return on common equity – GAAP (c)	9.2		%	7.1		%	9.1		%	9.4		%	8.8		%
Return on common equity – Non-GAAP (a)(c)	9.7		%	8.9		%	9.7		%	10.3		%	9.2		%
Return on tangible common equity – Non-GAAP (c)	20.6		%	16.2		%	20.8		%	21.5		%	20.3		%
Return on tangible common equity – Non-GAAP adjusted (a)(c)	20.8		%	19.0		%	21.0		%	22.5		%	20.2		%

(a) Non-GAAP excludes amortization of intangible assets, net of tax,M&I, litigation and restructuring charges (recoveries) and the impairment charge related to a prior court decision, if applicable.

(b) Deferred tax liabilities are based on fully phased-in Basel III rules.

(c) Annualized.

Page - 27

BNY Mellon 1Q16 Earnings Release

The following table presents the reconciliation of the equity to assets ratio and book value per common share.

Equity to assets and book value per common share	March 31, 2016			Dec. 31, 2015			Sept. 30, 2015			June 30, 2015			March 31, 2015
(dollars in millions, unless otherwise noted)
BNY Mellon shareholders’ equity at period end – GAAP	$	38,459		$	38,037		$	38,170		$	38,270		$	37,328
Less: Preferred stock	2,552			2,552			2,552			2,552			1,562
BNY Mellon common shareholders’ equity at period end – GAAP	35,907			35,485			35,618			35,718			35,766
Less: Goodwill	17,604			17,618			17,679			17,807			17,663
Intangible assets	3,781			3,842			3,914			4,000			4,047
Add: Deferred tax liability – tax deductible goodwill (a)	1,428			1,401			1,379			1,351			1,362
Deferred tax liability – intangible assets (a)	1,140			1,148			1,164			1,179			1,200
BNY Mellon tangible common shareholders’ equity at period end – Non-GAAP	$	17,090		$	16,574		$	16,568		$	16,441		$	16,618
Total assets at period end – GAAP	$	372,870		$	393,780		$	377,371		$	395,254		$	392,337
Less: Assets of consolidated investment management funds	1,300			1,401			2,297			2,231			1,681
Subtotal assets of operations – Non-GAAP	371,570			392,379			375,074			393,023			390,656
Less: Goodwill	17,604			17,618			17,679			17,807			17,663
Intangible assets	3,781			3,842			3,914			4,000			4,047
Cash on deposit with the Federal Reserve and other central banks (b)	96,421			116,211			86,426			106,628			93,044
Tangible total assets of operations at period end – Non-GAAP	$	253,764		$	254,708		$	267,055		$	264,588		$	275,902
BNY Mellon shareholders’ equity to total assets ratio – GAAP	10.3		%	9.7		%	10.1		%	9.7		%	9.5		%
BNY Mellon common shareholders’ equity to total assets ratio – GAAP	9.6		%	9.0		%	9.4		%	9.0		%	9.1		%
BNY Mellon tangible common shareholders’ equity to tangible assets of operations ratio – Non-GAAP	6.7		%	6.5		%	6.2		%	6.2		%	6.0		%
Period-end common shares outstanding (in thousands)	1,077,083			1,085,343			1,092,953			1,106,518			1,121,512
Book value per common share – GAAP	$	33.34		$	32.69		$	32.59		$	32.28		$	31.89
Tangible book value per common share – Non-GAAP	$	15.87		$	15.27		$	15.16		$	14.86		$	14.82

(a) Deferred tax liabilities are based on fully phased-in Basel III rules.

(b)    Assigned a zero percent risk-weighting by the regulators.

The following table presents income from consolidated investment management funds, net of noncontrolling interests.

Income (loss) from consolidated investment management funds, net of noncontrolling interests
(in millions)	1Q16			4Q15		3Q15			2Q15		1Q15
(Loss) income from consolidated investment management funds	$	(6	)	$	16	$	(22	)	$	40	$	52
Less: Net (loss) income attributable to noncontrolling interests of consolidated investment management funds	(7		)	5		(5		)	37		31
Income (loss) from consolidated investment management funds, net of noncontrolling interests	$	1		$	11	$	(17	)	$	3	$	21

The following table presents the impact of changes in foreign currency exchange rates on our consolidated investment management and performance fees.

Investment management and performance fees – Consolidated						1Q16 vs.
(dollars in millions)	1Q16		1Q15			1Q15
Investment management and performance fees – GAAP	$	812	$	867		(6	)%
Impact of changes in foreign currency exchange rates	—		(18		)
Investment management and performance fees, as adjusted – Non-GAAP	$	812	$	849		(4	)%

Page - 28

BNY Mellon 1Q16 Earnings Release

The following table presents the revenue line items in the Investment Management business impacted by the consolidated investment management funds.

Income (loss) from consolidated investment management funds, net of noncontrolling interests - Investment Management business
(in millions)	1Q16			4Q15		3Q15			2Q15			1Q15
Investment management fees	$	2		$	7	$	3		$	4		$	1
Other (Investment income (loss))	(1		)	4		(20		)	(1		)	20
Income (loss) from consolidated investment management funds, net of noncontrolling interests	$	1		$	11	$	(17	)	$	3		$	21

The following table presents the impact of changes in foreign currency exchange rates on investment management fees reported in the Investment Management segment.

Investment management fees - Investment Management business						1Q16 vs.
(dollars in millions)	1Q16		1Q15			1Q15
Investment management fees – GAAP	$	786	$	825		(5	)%
Impact of changes in foreign currency exchange rates	—		(18		)
Investment management fees, as adjusted – Non-GAAP	$	786	$	807		(3	)%

The following table presents the reconciliation of the pre-tax operating margin for the Investment Management business.

Pre-tax operating margin - Investment Management business
(dollars in millions)	1Q16			4Q15			3Q15			2Q15			1Q15
Income before income taxes – GAAP	$	217		$	290		$	236		$	259		$	263
Add: Amortization of intangible assets	19			24			24			25			24
Provision for credit losses	(1		)	(4		)	1			3			(1		)
Money market fee waivers	9			23			28			29			33
Income before income taxes excluding amortization of intangible assets, provision for credit losses and money market fee waivers – Non-GAAP	$	244		$	333		$	289		$	316		$	319
Total revenue – GAAP	$	895		$	999		$	926		$	987		$	994
Less: Distribution and servicing expense	100			92			94			95			97
Money market fee waivers benefiting distribution and servicing expense	23			27			35			37			38
Add: Money market fee waivers impacting total revenue	32			50			63			66			71
Total revenue net of distribution and servicing expense and excluding money market fee waivers – Non-GAAP	$	804		$	930		$	860		$	921		$	930
Pre-tax operating margin (a)	24		%	29		%	25		%	26		%	26		%
Pre-tax operating margin excluding amortization of intangible assets, provision for credit losses, money market fee waivers and net of distribution and servicing expense – Non-GAAP (a)	30		%	36		%	34		%	34		%	34		%

(a)    Income before taxes divided by total revenue.

Page - 29

BNY Mellon 1Q16 Earnings Release

DIVIDENDS

Common – On April 21, 2016, The Bank of New York Mellon Corporation declared a quarterly common stock dividend of $0.17 per common share. This cash dividend is payable on May 13, 2016 to shareholders of record as of the close of business on May 3, 2016.

Preferred – On April 21, 2016, The Bank of New York Mellon Corporation also declared the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend period ending in June 2016, in each case payable on June 20, 2016 to holders of record as of the close of business on June 5, 2016:

• $1,011.11 per share on the Series A Preferred Stock (equivalent to $10.1111 per Normal Preferred Capital Security of Mellon Capital IV, each representing a 1/100th interest in a share of the Series A Preferred Stock);

• $1,300.00 per share on the Series C Preferred Stock (equivalent to $0.3250 per depositary share, each representing a 1/4,000th interest in a share of the Series C Preferred Stock);

• $2,250.00 per share on the Series D Preferred Stock (equivalent to $22.50 per depositary share, each representing a 1/100th interest in a share of the Series D Preferred Stock); and

• $2,475.00 per share on the Series E Preferred Stock (equivalent to $24.75 per depositary share, each representing a 1/100th interest in a share of the Series E Preferred Stock).

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2016, BNY Mellon had $29.1 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

CAUTIONARY STATEMENT

A number of statements (i) in this Earnings Release, (ii) in our presentations and (iii) in the responses to questions on our conference call discussing our quarterly results and other public events may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including our estimated capital ratios and expectations relating to those ratios, preliminary business metrics and statements regarding enhancing the client experience, driving efficiencies, strategic priorities, capital plans, investor day goals and our business improvement process. These 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”, “target”, “expect”, “intend”, “continue”, “seek”, “believe”, “plan”, “goal”, “could”, “should”, “may”, “will”, “strategy”, “opportunities”, “trends” and words of similar meaning signify forward-looking statements. These statements and other forward-looking statements contained in other public disclosures of The Bank of New York Mellon Corporation which make reference to the cautionary factors described in this Earnings Release are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond BNY Mellon’s control). Actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties set forth in BNY Mellon’s Annual Report on Form 10-K for the year ended Dec. 31, 2015 and BNY Mellon’s other filings with the Securities and Exchange Commission. All forward-looking statements in this Earnings Release speak only as of April 21, 2016, and BNY Mellon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.

Page - 30

EX-99.2

The Bank of New York Mellon Corporation

Quarterly Financial Trends

April 21, 2016

Table of Contents
Consolidated Results	Page(s)
Consolidated Corporate Earnings - Quarterly Trend	3
Fee and Other Revenue	4
Average Balances and Interest Rates	5-6
Noninterest Expense	7
Assets Under Management, Custody and/or Administration and Securities Lending; Key Market Metrics	8
Assets Under Management Net Flows	9
Business Segment Results
Investment Management Business - Quarterly Trend	10
Investment Services Business - Quarterly Trend	11
Other Segment - Quarterly Trend	12
Full Year Trends	13
Nonperforming Assets	14
Allowance for Credit Losses, Provision and Net Charge-offs	15
Notes	16

THE BANK OF NEW YORK MELLON CORPORATION - CONSOLIDATED CORPORATE EARNINGS - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Revenue:
Investment services fees
Asset servicing	$	1,009		$	1,022		$	1,025		$	1,019		$	1,038		$	1,060		$	1,057		$	1,032		$	1,040
Issuer services	229			231			315			193			232			234			313			199			244
Clearing services	325			326			337			347			344			347			345			339			350
Treasury services	136			141			142			145			137			144			137			137			131
Total investment services fees	1,699			1,720			1,819			1,704			1,751			1,785			1,852			1,707			1,765
Investment management and performance fees (a)	843			883			881			885			867			878			829			864			812
Foreign exchange & other trading revenue	136			130			153			151			229			187			179			173			175
Distribution and servicing	43			43			44			43			41			39			41			41			39
Financing-related fees	38			44			44			43			40			58			71			51			54
Investment and other income (a)(b)	102			142			890			78			60			104			59			93			105
Total fee revenue (a)(b)	2,861			2,962			3,831			2,904			2,988			3,051			3,031			2,929			2,950
Net securities gains (losses)	22			18			20			31			24			16			22			21			20
Total fee and other revenue (a)(b)	2,883			2,980			3,851			2,935			3,012			3,067			3,053			2,950			2,970
Income (loss) of consolidated investment management funds (a)	36			46			39			42			52			40			(22		)	16			(6		)
Net interest revenue	728			719			721			712			728			779			759			760			766
Total revenue (a)(b)	3,647			3,745			4,611			3,689			3,792			3,886			3,790			3,726			3,730
Provision for credit losses	(18		)	(12		)	(19		)	1			2			(6		)	1			163			10
Noninterest expenses	2,676			2,749			2,673			2,651			2,637			2,603			2,603			2,610			2,555
Amortization of intangible assets	75			75			75			73			66			65			66			64			57
Merger & integration, litigation and restructuring charges	(12		)	122			220			800			(3		)	59			11			18			17
Total noninterest expense	2,739			2,946			2,968			3,524			2,700			2,727			2,680			2,692			2,629
Income (loss) from continuing operations before taxes (b)	926			811			1,662			164			1,090			1,165			1,109			871			1,091
Provision for income taxes (b)	232			217			556			(93		)	280			276			282			175			283
Net income (loss) from continuing operations (b)	694			594			1,106			257			810			889			827			696			808
Net income (loss) attributable to noncontrolling interest (a)(c)	(20		)	(17		)	(23		)	(24		)	(31		)	(36		)	6			(3		)	9
Preferred stock dividends	(13		)	(23		)	(13		)	(24		)	(13		)	(23		)	(13		)	(56		)	(13		)
Net income (loss) applicable to common shareholders of The Bank of New York Mellon Corporation (b)	$	661		$	554		$	1,070		$	209		$	766		$	830		$	820		$	637		$	804
Earnings per share (b)(d)	$	0.57		$	0.48		$	0.93		$	0.18		$	0.67		$	0.73		$	0.74		$	0.57		$	0.73
Pre-tax operating margin - GAAP (a)	25		%	22		%	36		%	4		%	29		%	30		%	29		%	23		%	29		%
Non-GAAP (a)(e)	27		%	30		%	29		%	28		%	30		%	33		%	31		%	30		%	31		%
Return on common equity (annualized) - GAAP	7.4		%	6.1		%	11.6		%	2.2		%	8.8		%	9.4		%	9.1		%	7.1		%	9.2		%
Return on tangible common equity (annualized) - Non-GAAP	17.6		%	14.5		%	26.2		%	5.9		%	20.3		%	21.5		%	20.8		%	16.2		%	20.6		%
Percent of non-US total revenue (f)	37		%	38		%	43		%	35		%	36		%	36		%	37		%	34		%	33		%
(a) The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02).
(b) In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).
(c) Primarily attributable to noncontrolling interests related to consolidated investment management funds.
(d) The second quarter of 2014 includes a $0.14 charge related to severance and certain investment management funds. The third quarter of 2014 includes a $0.27 gain related to the sale of an investment in Wing Hang Bank, $0.18 related to a gain on the sale of the One Wall Street building and a $0.16 charge related to litigation and restructuring. The fourth quarter of 2014 includes a $0.13 benefit primarily related to a tax carryback claim, and a $0.53 charge related to litigation and restructuring. The second quarter of 2015 includes a $0.03 charge related to litigation and restructuring. The fourth quarter of 2015 includes an $0.11 charge for the impairment charge related to a recent court decision, litigation and restructuring charges. The first quarter of 2016 includes a $0.01 charge related to litigation and restructuring.
(e) Non-GAAP excludes gain (loss) related to an equity investment, net (loss) income attributable to noncontrolling interests of consolidated investment management funds, the gains on the sales of our investment in Wing Hang Bank and the One Wall Street building, M&I, litigation and restructuring charges (recoveries), the impairment charge related to a prior court decision, a charge (recovery) related to investment management funds, net of incentives, amortization of intangible assets, and the benefit primarily related to a tax carryback claim, if applicable. See "Supplemental information - Explanation of GAAP and Non-GAAP financial measures" beginning on page 25 of the Quarterly Earnings Release dated April 21, 2016, for the first quarter of 2016 (the "Quarterly Earnings Release"), furnished as an exhibit to the Current Report on Form 8-K to which these Quarterly Financial Trends are furnished as an exhibit.
(f) Includes fee revenue, net interest revenue and (loss) income from consolidated investment management funds, net of net loss (income) attributable to noncontrolling interests.
Note: See pages 4 through 7 for additional details of revenue/expense items impacting consolidated results.
N/M - Not meaningful

3

THE BANK OF NEW YORK MELLON CORPORATION

FEE AND OTHER REVENUE - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Investment services fees:
Asset servicing	$	971		$	976		$	988		$	982		$	995		$	1,011		$	1,019		$	986		$	990
Securities lending	38			46			37			37			43			49			38			46			50
Issuer services	229			231			315			193			232			234			313			199			244
Clearing services	325			326			337			347			344			347			345			339			350
Treasury services	136			141			142			145			137			144			137			137			131
Total investment services fees	1,699			1,720			1,819			1,704			1,751			1,785			1,852			1,707			1,765
Investment management and performance fees (a)	843			883			881			885			867			878			829			864			812
Foreign exchange and other trading revenue	136			130			153			151			229			187			179			173			175
Distribution and servicing	43			43			44			43			41			39			41			41			39
Financing-related fees	38			44			44			43			40			58			71			51			54
Investment and other income (a)	102			142			890			78			60			104			59			93			105
Total fee revenue (a)	$	2,861		$	2,962		$	3,831		2,904			2,988			3,051			3,031			2,929			2,950
Net securities gains	22			18			20			31			24			16			22			21			20
Total fee and other revenue (a)	$	2,883		$	2,980		$	3,851		$	2,935		$	3,012		$	3,067		$	3,053		$	2,950		$	2,970
Fee revenue as a percentage of total revenue - excluding net securities gains	79		%	79		%	83		%	79		%	79		%	79		%	80		%	79		%	79		%
(a)    The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02).

4

THE BANK OF NEW YORK MELLON CORPORATION - Average Balances and Interest Rates

	2014
(dollar amounts in millions)	March 31					June 30					Sept. 30					Dec. 31
	Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate
Assets
Interest-earning assets:
Interest-bearing deposits with banks (primarily foreign)	$	41,617		0.71	%	$	41,424		0.74	%	$	34,882		0.66	%	$	24,623		0.49	%
Interest-bearing deposits with Federal Reserve & other central banks	74,399			0.25		85,546			0.26		88,713			0.23		97,440			0.22
Federal funds sold and securities purchased under resale agreements	11,118			0.61		13,387			0.58		15,683			0.61		18,536			0.56
Margin loans	15,840			1.07		17,050			1.05		18,108			1.04		18,897			1.01
Non-margin loans:
Domestic offices	22,002			2.31		22,566			2.30		23,826			2.20		25,103			2.20
Foreign offices	13,805			1.26		13,833			1.34		12,901			1.30		12,844			1.21
Total non-margin loans	35,807			1.90		36,399			1.94		36,727			1.88		37,947			1.86
Securities:
U.S. government obligations	17,213			1.61		17,462			1.63		23,067			1.38		24,331			1.48
U.S. government agency obligations	42,710			1.87		43,167			1.67		46,186			1.67		49,106			1.70
Obligations of states and political subdivisions	6,691			2.50		6,473			2.58		5,830			2.54		5,305			2.61
Other securities	33,920			1.64		34,318			1.55		36,972			1.37		38,501			1.23
Trading securities	5,217			2.60		5,532			2.19		5,435			2.36		3,922			2.64
Total securities	105,751			1.83		106,952			1.71		117,490			1.59		121,165			1.58
Total interest-earning assets	284,532			1.17		300,758			1.10		311,603			1.05		318,608			1.02
Allowance for loan losses	(210		)			(197		)			(187		)			(186		)
Cash and due from banks	5,886					5,064					6,225					4,715
Other assets	53,430					52,182					52,526					52,472
Assets of consolidated investment funds	11,354					11,405					10,242					9,623
Total Assets	$	354,992				$	369,212				$	380,409				$	385,232
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts and demand deposit accounts	$	9,333		0.11	%	$	7,583		0.13	%	$	7,886		0.14	%	$	8,869		0.12	%
Savings	1,034			0.25		1,185			0.27		1,258			0.28		1,262			0.30
Other time deposits	41,544			0.04		42,824			0.04		41,248			0.04		41,507			0.04
Foreign offices	101,075			0.06		111,082			0.06		113,841			0.05		111,511			0.02
Total interest-bearing deposits	152,986			0.06		162,674			0.06		164,233			0.06		163,149			0.03
Federal funds purchased and securities sold under repurchase agreements	14,505			(0.13	)	19,030			(0.05	)	20,620			(0.07	)	20,285			(0.05	)
Trading Liabilities	1,978			1.59		2,993			0.97		2,806			0.84		1,024			1.44
Other borrowed funds	1,137			0.47		3,242			0.23		4,587			0.15		5,270			0.25
Payables to customers and broker-dealers	8,883			0.09		8,916			0.09		9,705			0.10		10,484			0.08
Long-term debt	20,420			1.09		20,361			1.16		20,429			1.12		21,187			1.27
Total interest-bearing liabilities	199,909			0.17		217,216			0.17		222,380			0.16		221,399			0.16
Total noninterest-bearing deposits	81,430					77,820					82,334					85,330
Other liabilities	24,608					24,854					27,369					30,743
Liabilities and obligations of consolidated investment funds	10,128					10,180					8,879					8,101
Total The Bank of New York Mellon Corporation Shareholders' Equity	37,851					38,127					38,313					38,421
Noncontrolling interest	1,066					1,015					1,134					1,238
Total liabilities and shareholders' equity	$	354,992				$	369,212				$	380,409				$	385,232
Net interest margin - Taxable equivalent basis				1.05	%				0.98	%				0.94	%				0.91	%

Note: Interest and average rates were calculated on a taxable equivalent basis, at tax rates of approximately 35%, using dollar amounts in thousands and the actual number of days in the year.

5

THE BANK OF NEW YORK MELLON CORPORATION - Average Balances and Interest Rates (continued)

	2015																				2016
(dollar amounts in millions)	March 31					June 30					Sept. 30					Dec. 31					March 31
	Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate		Average balance			Average rate
Assets
Interest-earning assets:
Interest-bearing deposits with banks (primarily foreign)	$	22,071		0.56	%	$	20,235		0.56	%	$	20,549		0.45	%	$	19,301		0.45	%	$	14,909		0.69	%
Interest-bearing deposits with Federal Reserve & other central banks	81,160			0.23		81,846			0.21		84,175			0.20		84,880			0.18		89,092			0.28
Federal funds sold and securities purchased under resale agreements	20,416			0.59		23,545			0.61		25,366			0.61		24,147			0.69		23,623			0.84
Margin loans	20,051			1.00		20,467			1.01		19,839			1.05		19,321			1.09		18,907			1.34
Non-margin loans:
Domestic offices	25,256			2.14		26,716			2.06		27,411			2.15		27,751			2.06		28,506			2.21
Foreign offices	12,628			1.24		13,893			1.19		14,407			1.13		14,892			1.17		13,783			1.39
Total non-margin loans	37,884			1.84		40,609			1.77		41,818			1.80		42,643			1.75		42,289			1.95
Securities
U.S. government obligations	27,454			1.38		28,331			1.42		23,935			1.52		23,955			1.53		24,479			1.50
U.S. government agency obligations	52,744			1.68		56,332			1.77		55,624			1.76		55,441			1.81		55,966			1.79
Obligations of states and political subdivisions	5,213			2.64		5,021			2.67		4,465			2.81		4,164			2.80		3,979			2.89
Other securities	38,065			1.33		38,957			1.24		37,164			1.28		35,972			1.25		34,114			1.22
Trading securities	3,046			2.46		3,253			2.63		2,737			2.74		2,786			2.79		3,320			2.16
Total securities	126,522			1.57		131,894			1.59		123,925			1.63		122,318			1.65		121,858			1.62
Total interest-earning assets	308,104			1.07		318,596			1.08		315,672			1.08		312,610			1.08		310,678			1.16
Allowance for loan losses	(191		)			(190		)			(184		)			(181		)			(157		)
Cash and due from banks	6,204					6,785					6,140					5,597					3,879
Other assets (a)	51,966					50,808					49,700					48,849					48,845
Assets of consolidated investment funds (a)	2,328					2,280					2,125					1,715					1,309
Total Assets (a)	$	368,411				$	378,279				$	373,453				$	368,590				$	364,554
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts and demand deposit accounts	$	10,021		0.12	%	$	10,322		0.13	%	$	10,623		0.13	%	$	9,292		0.12	%	$	8,249		0.11	%
Savings	1,429			0.30		1,326			0.27		1,279			0.27		1,217			0.27		1,235			0.27
Other time deposits	43,259			0.04		46,807			0.03		43,529			0.04		43,061			0.03		42,678			0.04
Foreign offices	104,811			0.03		112,261			—		114,322			—		106,764			—		109,855			0.03
Total interest-bearing deposits	159,520			0.04		170,716			0.02		169,753			0.02		160,334			0.01		162,017			0.04
Federal funds purchased and securities sold under repurchase agreements	13,877			(0.09	)	16,732			(0.02	)	14,796			(0.04	)	20,349			(0.03	)	18,689			0.20
Trading Liabilities	795			1.07		632			1.84		475			1.42		638			1.34		551			1.43
Other borrowed funds	2,108			0.50		3,795			0.37		2,823			0.35		733			1.13		781			0.96
Payables to customers and broker-dealers	10,932			0.07		11,234			0.07		11,504			0.06		12,904			0.06		16,801			0.09
Long-term debt	20,199			1.21		20,625			0.99		21,070			1.21		21,418			1.19		21,556			1.57
Total interest-bearing liabilities	207,431			0.15		223,734			0.12		220,421			0.14		216,376			0.14		220,395			0.21
Total noninterest-bearing deposits	89,592					84,890					85,046					85,878					82,944
Other liabilities	32,341					29,840					27,880					26,530					22,300
Liabilities and obligations of consolidated investment funds (a)	1,004					857					841					629					259
Total The Bank of New York Mellon Corporation Shareholders' Equity	37,048					37,829					38,140					38,216					37,804
Noncontrolling interest (a)	995					1,129					1,125					961					852
Total liabilities and shareholders' equity (a)	$	368,411				$	378,279				$	373,453				$	368,590				$	364,554
Net interest margin - Taxable equivalent basis				0.97	%				1.00	%				0.98	%				0.99	%				1.01	%

(a) The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02).

Note: Interest and average rates were calculated on a taxable equivalent basis, at tax rates of approximately 35%, using dollar amounts in thousands and the actual number of days in the year.

6

THE BANK OF NEW YORK MELLON CORPORATION

NONINTEREST EXPENSE - 9 Quarter Trend

	2014									2015									2016
(dollar amounts in millions)	1st Qtr			2nd Qtr		3rd Qtr		4th Qtr		1st Qtr			2nd Qtr		3rd Qtr		4th Qtr		1st Qtr
Staff	1,511			1,439		1,477		1,418		1,485			1,434		1,437		1,481		1,459
Professional, legal and other purchased services	312			314		323		390		302			299		301		328		278
Software and equipment	237			236		234		235		228			228		226		225		219
Net occupancy	154			152		154		150		151			149		152		148		142
Distribution and servicing	107			112		107		102		98			96		95		92		100
Business development	64			68		61		75		61			72		59		75		57
Sub-custodian	68			81		67		70		70			75		65		60		59
Other	223			347		250		211		242			250		268		201		241
Amortization of intangible assets	75			75		75		73		66			65		66		64		57
Merger & integration, litigation and restructuring charges	(12		)	122		220		800		(3		)	59		11		18		17
Total noninterest expense	$	2,739		$	2,946	$	2,968	$	3,524	$	2,700		$	2,727	$	2,680	$	2,692	$	2,629
Memo:
Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges (recoveries), and the charge (recovery) related to investment management funds, net of incentives - Non-GAAP	$	2,681		$	2,640	$	2,673	$	2,651	$	2,637		$	2,603	$	2,603	$	2,610	$	2,555
Full-time employees at period-end	51,400			51,100		50,900		50,300		50,500			50,700		51,300		51,200		52,100

7

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT, CUSTODY AND/OR ADMINISTRATION AND SECURITIES LENDING - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in billions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Assets under management at period-end: (a)
Institutional	$	1,092		$	1,084		$	1,106		$	1,164		$	1,188		$	1,163		$	1,129		$	1,126		$	1,155
Mutual Funds	415			440			430			438			445			454			419			421			405
Private Client	85			85			84			84			84			83			77			78			79
Assets under management	$	1,592		$	1,609		$	1,620		$	1,686		$	1,717		$	1,700		$	1,625		$	1,625		$	1,639		(b)
AUM at period-end, by product type: (a)
Equity	17		%	17		%	16		%	15		%	15		%	15		%	14		%	14		%	14		%
Fixed income	13			13			13			12			12			13			13			13			13
Index	21			22			21			21			22			21			20			20			19
Liability-driven investments (c)	27			27			28			30			30			30			32			32			33
Alternative investments	4			4			4			4			4			4			4			4			4
Cash	18			17			18			18			17			17			17			17			17
Total AUM	100		%	100		%	100		%	100		%	100		%	100		%	100		%	100		%	100		%	(b)
Assets under custody and/or administration at period-end (in trillions) (d)	$	27.9		$	28.5		$	28.3		$	28.5		$	28.5		$	28.6		$	28.5		$	28.9		$	29.1		(b)
Market value of securities on loan at period-end (e)	$	264		$	280		$	282		$	289		$	291		$	283		$	288		$	277		$	300
Key Market Metrics
S&P 500 Index (f)	1872			1960			1972			2059			2068			2063			1920			2044			2060
S&P 500 Index - daily average	1835			1900			1976			2009			2064			2102			2027			2052			1951
FTSE 100 Index (f)	6598			6744			6623			6566			6773			6521			6062			6242			6175
FTSE 100 Index-daily average	6680			6764			6756			6526			6793			6920			6399			6271			5988
MSCI World Index (f)	1674			1743			1698			1710			1741			1736			1582			1663			1648
MSCI World Index-daily average	1647			1698			1733			1695			1726			1780			1691			1677			1568
Barclays Capital Global Aggregate BondSM Index (f)(g)	365			376			361			357			348			342			346			342			368
NYSE & NASDAQ Share Volume (in billions)	196			187			173			198			187			185			206			198			218
JP Morgan G7 Volatility Index - daily average (h)	7.80			6.22			6.21			8.54			10.40			10.06			9.93			9.49			10.60
Average Fed Funds effective rate	0.07		%	0.09		%	0.09		%	0.10		%	0.11		%	0.13		%	0.13		%	0.16		%	0.36		%
Foreign exchange rates vs. U.S. dollar:
British pound (f)	$	1.67		$	1.71		$	1.62		$	1.56		$	1.48		$	1.57		$	1.52		$	1.48		$	1.44
British pound - average rate	1.66			1.68			1.67			1.58			1.51			1.53			1.55			1.52			1.43
Euro (f)	1.38			1.37			1.26			1.22			1.07			1.11			1.12			1.09			1.14
Euro - average rate	1.37			1.37			1.33			1.25			1.13			1.11			1.11			1.10			1.10
(a) Excludes securities lending cash management assets and assets managed in the Investment Services business. In the third quarter of 2015, prior period AUM was restated to reflect the reclassification of Meriten from the Investment Management business to the Other segment.
(b) Preliminary.
(c) Includes currency overlay assets under management.
(d) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.2 trillion at March 31, 2014, June 30, 2014 and Sept. 30, 2014, $1.1 trillion at Dec. 31, 2014, March 31, 2015, and June 30, 2015, $1.0 trillion at Sept. 30, 2015 and Dec. 31, 2015, and $1.1 trillion at March 31, 2016.
(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent, on behalf of CIBC Mellon clients, which totaled $66 billion at March 31, 2014, $64 billion at June 30, 2014, $65 billion at Sept. 30, 2014 and Dec. 31, 2014, $69 billion at March 31, 2015, $68 billion at June 30, 2015, $61 billion at Sept. 30, 2015, $55 billion at Dec. 31, 2015, and $56 billion at March 31, 2016.
(f) Period end.
(g) Unhedged in U.S. dollar terms.
(h) The JP Morgan G7 Volatility Index is based on the implied volatility in 3-month currency options.

8

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT NET FLOWS - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in billions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Assets under management at beginning of period (a)	$	1,557		$	1,592		$	1,609		$	1,620		$	1,686		$	1,717		$	1,700		$	1,625		$	1,625
Net inflows (outflows):
Long-term:
Equity	(1		)	(5		)	(2		)	(5		)	(5		)	(13		)	(4		)	(9		)	(3		)
Fixed income	—			—			—			4			3			(2		)	(3		)	1			—
Liability-driven investments (b)	20			(17		)	19			24			8			5			11			11			14
Alternative investments	2			2			—			2			1			3			1			2			1
Total long-term active inflows (outflows)	21			(20		)	17			25			7			(7		)	5			5			12
Index	—			7			(3		)	1			8			(9		)	(10		)	(16		)	(11		)
Total long-term inflows (outflows)	21			(13		)	14			26			15			(16		)	(5		)	(11		)	1
Short-term:
Cash	(7		)	(17		)	18			6			1			(11		)	(10		)	2			(9		)
Total net inflows (outflows)	14			(30		)	32			32			16			(27		)	(15		)	(9		)	(8		)
Net market / currency impact / acquisition	21			47			(21		)	34			15			10			(60		)	9			22
Assets under management at end of period (a)	$	1,592		$	1,609		$	1,620		$	1,686		$	1,717		$	1,700		$	1,625		$	1,625		$	1,639		(c)
(a) Excludes securities lending cash management assets and assets managed in the Investment Services business. In the third quarter of 2015, prior period AUM was restated to reflect the reclassification of Meriten from the Investment Management business to the Other segment.
(b) Includes currency overlay assets under management.
(c) Preliminary.

9

THE BANK OF NEW YORK MELLON CORPORATION

INVESTMENT MANAGEMENT BUSINESS - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Revenue:
Investment management fees:
Mutual funds	$	299		$	311		$	315		$	306		$	301		$	312		$	301		$	294		$	300
Institutional clients	359			373			370			364			365			363			347			350			334
Wealth management	153			156			158			157			159			160			156			155			152
Total investment management fees	811			840			843			827			825			835			804			799			786
Performance fees	20			29			22			40			15			20			7			55			11
Investment management and performance fees	831			869			865			867			840			855			811			854			797
Distribution and servicing	39			39			40			39			38			38			37			39			46
Other (a)	12			43			11			2			41			17			(5		)	22			(31		)
Total fee and other revenue (a)	882			951			916			908			919			910			843			915			812
Net interest revenue	69			67			69			69			75			77			83			84			83
Total revenue	951			1,018			985			977			994			987			926			999			895
Noninterest expense (ex. intangible amortization and the charge (recovery) related to investment management funds, net of incentives)	680			711			712			714			708			700			665			689			660
Income before taxes (ex. provision for credit losses, intangible amortization and the charge (recovery) related to investment management funds, net of incentives)	271			307			273			263			286			287			261			310			235
Charge (recovery) related to investment management funds, net of incentives	(5		)	109			—			—			—			—			—			—			—
Provision for credit losses	(1		)	1			—			—			(1		)	3			1			(4		)	(1		)
Amortization of intangible assets	30			30			30			28			24			25			24			24			19
Income before taxes	$	247		$	167		$	243		$	235		$	263		$	259		$	236		$	290		$	217
Average assets	$	39,333		$	37,619		$	36,542		$	37,163		$	31,361		$	30,414		$	30,960		$	30,982		$	29,971
Assets under management at period-end (in billions) (b)	$	1,592		$	1,609		$	1,620		$	1,686		$	1,717		$	1,700		$	1,625		$	1,625		$	1,639		(c)
Pre-tax operating margin	26		%	16		%	25		%	24		%	26		%	26		%	25		%	29		%	24		%
Adjusted pre-tax operating margin (d)	35		%	36		%	33		%	33		%	34		%	34		%	34		%	36		%	30		%
(a)  Total fee and other revenue includes the impact of the consolidated investment management funds, net of non-controlling interests. See "Supplemental information - Explanation of GAAP and Non-GAAP financial measures" beginning on page 25 of the Quarterly Earnings Release for the reconciliation of Non-GAAP measures. Additionally, other revenue includes asset servicing, treasury services, foreign exchange and other trading revenue and investment and other income.
(b)  Excludes securities lending cash management assets and assets managed in the Investment Services business. In the third quarter of 2015, prior period AUM was restated to reflect the reclassification of Meriten from the Investment Management business to the Other segment.
(c)  Preliminary.
(d)  Excludes the net negative impact of money market fee waivers, amortization of intangible assets, provision for credit losses and the charge (recovery) related to investment management funds net of incentives, and is net of distribution and servicing expense. See "Supplemental information - Explanation of GAAP and Non-GAAP financial measures" beginning on page 25 of the Quarterly Earnings Release for the reconciliation of Non-GAAP measures.

10

THE BANK OF NEW YORK MELLON CORPORATION

INVESTMENT SERVICES BUSINESS - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions unless otherwise noted)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Revenue:
Investment services fees
Asset servicing fees - ex. securities lending	$	955		$	958		$	971		$	964		$	979		$	995		$	1,001		$	970		$	974
Securities lending revenue	33			39			31			32			38			43			33			39			42
Issuer services	228			231			314			193			231			234			312			199			244
Clearing services	323			324			336			346			342			346			345			337			348
Treasury services	134			140			139			142			135			141			135			135			129
Total investment services fees	1,673			1,692			1,791			1,677			1,725			1,759			1,826			1,680			1,737
Foreign Exchange and other trading revenue	164			148			164			167			212			181			179			150			168
Other (a)	86			117			90			113			92			117			129			127			125
Total fee and other revenue	1,923			1,957			2,045			1,957			2,029			2,057			2,134			1,957			2,030
Net interest revenue	625			630			613			600			629			667			662			664			679
Total revenue	2,548			2,587			2,658			2,557			2,658			2,724			2,796			2,621			2,709
Noninterest expenses (ex. intangible amortization)	1,815			1,856			1,863			2,532			1,822			1,874			1,853			1,791			1,770
Income before taxes (ex. provision for credit losses and intangible amortization)	733			731			795			25			836			850			943			830			939
Provision for credit losses	(7		)	(8		)	7			10			7			6			7			8			14
Amortization of intangible assets	44			44			44			43			41			40			41			40			38
Income before taxes	$	696		$	695		$	767		$	(28	)	$	788		$	804		$	895		$	782		$	887
Average loans	$	38,077		$	39,737		$	40,344		$	42,342		$	45,071		$	45,822		$	46,222		$	45,844		$	45,004
Average assets	$	264,875		$	269,636		$	272,331		$	278,902		$	287,321		$	292,264		$	285,195		$	281,766		$	273,289
Average deposits	$	220,393		$	225,316		$	226,576		$	229,613		$	235,524		$	238,404		$	232,250		$	229,241		$	215,707
Pre-tax operating margin	27		%	27		%	29		%	(1		)%	30		%	30		%	32		%	30		%	33		%
Adjusted pre-tax operating margin (ex. provision for credit losses and intangible amortization)	29		%	28		%	30		%	1		%	31		%	31		%	34		%	32		%	35		%
Investment services fees as a percentage of noninterest expense (b)	92		%	91		%	99		%	92		%	95		%	97		%	99		%	95		%	99		%
Assets under custody and/or administration at period-end (in trillions) (c)	$	27.9		$	28.5		$	28.3		$	28.5		$	28.5		$	28.6		$	28.5		$	28.9		$	29.1		(d)
Market value of securities on loan at period-end (in billions) (e)	$	264		$	280		$	282		$	289		$	291		$	283		$	288		$	277		$	300
(a) Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue, and investment and other income.
(b) Noninterest expense excludes amortization of intangible assets and litigation expense.
(c) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.2 trillion at March 31, 2014, June 30, 2014 and Sept. 30, 2014, $1.1 trillion at Dec. 31, 2014, March 31, 2015, and June 30, 2015, $1.0 trillion at Sept. 30, 2015 and Dec. 31, 2015, and $1.1 trillion at March 31, 2016.
(d) Preliminary.
(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $66 billion at March 31, 2014, $64 billion at June 30, 2014, $65 billion at Sept. 30, 2014 and Dec. 31, 2014, $69 billion at March 31, 2015, $68 billion at June 30, 2015, $61 billion at Sept. 30, 2015, $55 billion at Dec. 31, 2015, and $56 billion at March 31, 2016.

11

THE BANK OF NEW YORK MELLON

OTHER SEGMENT- 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions)	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Revenue:
Fee and other revenue (a)	$	94		$	101		$	906		$	88		$	85		$	103		$	59		$	89		$	129
Net interest revenue	34			22			39			43			24			35			14			12			4
Total revenue (a)	128			123			945			131			109			138			73			101			133
Noninterest expense (ex. amortization of intangible assets, M&I and restructuring (recoveries) charges)	174			75			261			205			108			79			97			150			141
Income (loss) before taxes (ex. amortization of intangible assets, M&I and restructuring (recoveries) charges) (a)	$	(46	)	$	48		$	684		$	(74	)	$	1		$	59		$	(24	)	$	(49	)	$	(8	)
Provision for credit losses	(10		)	(5		)	(3		)	(9		)	(4		)	(15		)	(7		)	159			(3		)
Amortization of intangible assets	1			1			1			2			1			—			1			—			—
M&I and restructuring (recoveries) charges	—			120			57			—			(4		)	8			(2		)	(4		)	(1		)
Income (loss) before taxes (a)	$	(37	)	$	(68	)	$	629		$	(67	)	$	8		$	66		$	(16	)	$	(204	)	$	(4	)
Average loans and leases	$	3,495		$	3,340		$	3,719		$	3,378		$	1,230		$	2,956		$	2,656		$	2,673		$	1,917
Average assets	$	50,784		$	55,601		$	57,298		$	69,167		$	49,729		$	55,601		$	57,298		$	55,842		$	61,294
(a) In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).

12

THE BANK OF NEW YORK MELLON CORPORATION BUSINESSES

	Investment Management									Investment Services									Other												Consolidated Results
(dollar amounts in millions unless otherwise noted)	2015			2014			2013			2015			2014			2013			2015				2014				2013				2015				2014				2013
Revenue:
Investment services fees
Asset servicing	$	89		$	91		$	91		$	4,098		$	3,983		$	3,814		$	—			$	1			$	—			$	4,187			$	4,075			$	3,905
Issuer services	—			—			—			976			966			1,087			2				2				3				978				968				1,090
Clearing services	—			—			—			1,370			1,329			1,258			5				6				6				1,375				1,335				1,264
Treasury services	9			9			2			546			555			544			—				—				8				555				564				554
Total investment services fees	98			100			93			6,990			6,833			6,703			7				9				17				7,095				6,942				6,813
Investment management fees	3,263			3,321			3,205			70			74			63			22				48				77				3,355				3,443				3,345
Performance fees	97			111			130			—			—			—			1				4				—				98				115				130
Foreign exchange and other trading revenue	(13		)	(23		)	8			722			643			714			59				(50		)		(48		)		768				570				674
Distribution and servicing	152			157			167			10			11			8			—				5				5				162				173				180
Financing-related fees	(1		)	1			5			222			168			162			(1		)		—				5				220				169				172
Investment and other income	(10		)	(11		)	(19		)	163			153			143			166			(a)	1,083			(a)	380			(a)	319			(a)	1,225			(a)	504			(a)
Total fee revenue	3,586			3,656			3,589			8,177			7,882			7,793			254			(a)	1,099			(a)(b)	436			(a)(b)	12,017			(a)(b)	12,637			(a)(b)	11,818			(a)(b)
Net securities gains (losses)	1			1			6			—			—			8			82				90				127				83				91				141
Total fee and other revenue	3,587			3,657			3,595			8,177			7,882			7,801			336			(a)	1,189			(a)(b)	563			(a)(b)	12,100			(a)(b)	12,728			(a)(b)	11,959			(a)(b)
Net interest revenue (expense)	319			274			259			2,622			2,468			2,665			85				138				85				3,026				2,880				3,009
Total revenue	3,906			3,931			3,854			10,799			10,350			10,466			421			(a)	1,327			(a)	648			(a)	15,126			(a)	15,608			(a)	14,968			(a)
Noninterest expenses (ex. intangible amortization)	2,762			2,921			2,749			7,340			8,066			7,316			432				892				899				10,534				11,879				10,964
Income (loss) before taxes (ex. provision for credit losses and intangible amortization)	1,144			1,010			1,105			3,459			2,284			3,150			(11		)	(a)	435			(a)(b)	(251		)	(a)(b)	4,592			(a)(b)	3,729			(a)(b)	4,004			(a)(b)
Provision for credit losses	(1		)	—			(6		)	28			(21		)	9			133				(27		)		(38		)		160				(48		)		(35		)
Amortization of intangible assets	97			118			143			162			175			194			2				5				5				261				298				342
Income (loss) before taxes and noncontrolling interest	$	1,048		$	892		$	968		$	3,269		$	2,130		$	2,947		$	(146	)	(a)	$	457		(a)(b)	$	(218	)	(a)(b)	$	4,171		(a)(b)	$	3,479		(a)(b)	$	3,697		(a)(b)
Average loans	$	12,545		$	10,589		$	9,361		$	45,743		$	40,137		$	34,673		$	2,384			$	3,484			$	4,282			$	60,672			$	54,210			$	48,316
Average assets	$	30,928		$	37,655		$	38,420		$	286,617		$	271,477		$	252,272		$	54,642			$	63,434			$	51,619			$	372,187			$	372,566			$	342,311
Average deposits	$	15,160		$	14,154		$	13,753		$	233,833		$	225,503		$	210,432		$	2,441			$	2,882			$	1,511			$	251,434			$	242,539			$	225,696
Assets under management at period-end (in billions) (c)	$	1,625		$	1,686		$	1,557		$	—		$	—		$	—		$	—			$	—			$	—			$	1,625			$	1,686			$	1,557
Assets under custody and/or administration at period-end (in trillions) (d)	$	—		$	—		$	—		$	28.9		$	28.5		$	27.6		$	—			$	—			$	—			$	28.9			$	28.5			$	27.6
Market value of securities on loan at period-end (in billions) (e)	$	—		$	—		$	—		$	277		$	289		$	235		$	—			$	—			$	—			$	277			$	289			$	235
Pre-tax operating margin - GAAP	27		%	23		%	25		%	30		%	21		%	28		%	N/M				N/M				N/M				28		%		22		%		25		%
Memo:
Securities lending revenue																															$	176			$	158			$	155
(a) In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).
(b) Total fee and other revenue and income before taxes for the years 2013, 2014 and 2015 include income from consolidated investment management funds of $183 million, $163 million and $86 million, respectively, net of income attributable to noncontrolling interests of $80 million, $84 million and $64 million respectively. The net of these income statement line items of $103 million, $79 million and $18 million, respectively, are included above in fee and other revenue. The year 2015 includes a loss attributable to noncontrolling interest of $4 million related to other consolidated subsidiaries.
(c) Excludes securities lending cash management assets and assets managed in the Investment Services business. Also excludes assets under management related to Newton's private client business that was sold in September 2013. In the third quarter of 2015, prior period AUM was restated to reflect the reclassification of Meriten from the Investment Management business to the Other segment.
(d) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.2 trillion at Dec. 31, 2013, $1.1 trillion at Dec. 31, 2014 and $1.0 trillion at Dec. 31, 2015.
(e) Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent, beginning in the fourth quarter of 2013, on behalf of CIBC Mellon clients, which totaled $62 billion at Dec. 31, 2013, $65 billion at Dec. 31, 2014, and $55 billion at Dec. 31, 2015.
Note: See pages 10 through 12 for businesses results.
N/M - Not meaningful

13

THE BANK OF NEW YORK MELLON CORPORATION

NONPERFORMING ASSETS - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions)	March 31			June 30			Sept. 30			Dec. 31			March 31			June 30			Sept. 30			Dec. 31			March 31
Nonperforming loans:
Other residential mortgages	$	107		$	105		$	113		$	112		$	111		$	110		$	103		$	102		$	99
Wealth management loans and mortgages	12			12			13			12			12			11			12			11			11
Commercial real estate	4			4			4			1			1			1			1			2			2
Commercial	13			13			13			—			—			—			—			—			5
Foreign	7			4			—			—			—			—			—			—			—
Financial institutions	—			—			—			—			—			—			—			171			171
Total nonperforming loans	143			138			143			125			124			122			116			286			288
Other assets owned	3			4			4			3			4			5			7			6			4
Total nonperforming assets (a)	$	146		$	142		$	147		$	128		$	128		$	127		$	123		$	292		$	292
Nonperforming assets ratio	0.27		%	0.24		%	0.26		%	0.22		%	0.21		%	0.20		%	0.20		%	0.46		%	0.48		%
Nonperforming assets ratio excluding margin loans	0.39		%	0.34		%	0.37		%	0.33		%	0.30		%	0.30		%	0.28		%	0.67		%	0.69		%
Allowance for loan losses/nonperforming loans	138.5			135.5			133.6			152.8			153.2			150.0			156.0			54.9			56.3
Allowance for loan losses/nonperforming assets	135.6			131.7			129.9			149.2			148.4			144.1			147.2			53.8			55.5
Total allowance for credit losses/nonperforming loans	228.0			225.4			201.4			224.0			228.2			227.9			241.4			96.2			99.7
Total allowance for credit losses/nonperforming assets	221.8			219.0			195.9			218.8			221.1			218.9			227.6			94.2			98.3
(a) Loans of consolidated investment management funds are not part of BNY Mellon's loan portfolio. Included in the loans of consolidated investment management funds are nonperforming loans for the 1st through 4th quarters of 2014 of $74 million, $68 million, $79 million, and $53 million, respectively. These loans are recorded at fair value and therefore do not impact the provision for credit losses and allowance for loan losses, and accordingly are excluded from the nonperforming assets table above. In 2Q15, BNY Mellon adopted the new accounting guidance included in ASU 2015-02, Consolidations. As a result, we deconsolidated substantially all of the loans of consolidated investment management funds retroactively to Jan.1, 2015.

14

THE BANK OF NEW YORK MELLON CORPORATION

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS - 9 Quarter Trend

	2014												2015												2016
(dollar amounts in millions)	March 31			June 30			Sept. 30			Dec. 31			March 31			June 30			Sept. 30			Dec. 31			March 31
Allowance for credit losses:
Allowance for credit losses	$	210		$	198		$	187		$	191		$	191		$	190		$	183		$	181		$	157
Allowance for lending-related commitments	134			128			124			97			89			93			95			99			118
Allowance for credit losses - beginning of period	$	344		$	326		$	311		$	288		$	280		$	283		$	278		$	280		$	275
Net (charge-offs)
Charge-offs	(1		)	(4		)	(5		)	(10		)	—			—			—			(170		)	—
Recoveries	1			1			1			1			1			1			1			2			2
Total Net (charge-offs)	—			(3		)	(4		)	(9		)	1			1			1			(168		)	2
Provision for credit losses	(18		)	(12		)	(19		)	1			2			(6		)	1			163			10
Allowance for credit losses - end of period	$	326		$	311		$	288		$	280		$	283		$	278		$	280		$	275		$	287
Allowance for loan losses
Allowance for loan losses	$	198		$	187		$	191		$	191		$	190		$	183		$	181		$	157		$	162
Allowance for lending-related commitments	128			124			97			89			93			95			99			118			125
Allowance for credit losses - end of period	$	326		$	311		$	288		$	280		$	283		$	278		$	280		$	275		$	287
Allowance for loan losses as a percentage of total loans	0.37		%	0.32		%	0.33		%	0.32		%	0.31		%	0.29		%	0.29		%	0.25		%	0.26		%

15

THE BANK OF NEW YORK MELLON CORPORATION

Quarterly Financial Trends

April 21, 2016

Notes:

The following transactions/changes have impacted the reporting of our results:

 In the first quarter of 2016, results of credit-related activities were reclassified from the Other segment to the Investment Services segment. Also, concurrent with this reclassification, the provision for credit losses associated with the respective credit portfolios is now reflected in each business segment. All prior periods have been restated.

Beginning in the first quarter of 2016, we revised the net interest revenue for our business to reflect adjustments to our transfer pricing methodology to better reflect the value of certain deposits. This change did not impact the consolidated results.

Beginning in the first quarter of 2016, we refined the expense allocation process for indirect expenses to simplify the expenses recorded in the Other segment to include only expenses not directly attributable to the Investment Management and Investment Services operations. This change did not impact the consolidated results.

  In the third quarter of 2015, results of Meriten were reclassified from the Investment Management business to the Other segment. Meriten Investment Management was sold in July 2015.

The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02).

In the first quarter of 2014, prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01).

In the first quarter of 2014, results of Newton's private client business were reclassified from the Investment Management business to the Other segment. Newton's private client business was sold in September 2013.

Restructuring charges in the second quarter of 2014 represent corporate initiatives and were recorded in the Other segment. In the fourth quarter of 2013, restructuring charges were recorded in the businesses. Prior to the fourth quarter of 2013, all restructuring charges were reported in the Other segment.

In the first quarter of 2013, incentive expense related to restricted stock and certain corporate overhead charges were allocated to Investment Management and Investment Services businesses which were previously included in the Other segment. All prior periods were restated to reflect these changes.

Certain immaterial reclassifications/revisions have been made to prior periods to place them on a basis comparable with the current period's presentation.

In businesses where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.

Quarterly return on common and tangible common equity ratios are annualized.

Non-GAAP Measures:

Certain Non-GAAP measures are included in this document. These measures are used by management to monitor financial performance, both on a company-wide and on a business basis. These Non-GAAP measures relate to certain revenue/expense categories, percentages and ratios as described in footnotes. For further information, see 'Supplemental information -- Explanation of GAAP and Non-GAAP Financial Measures' in the Quarterly Earnings Release. Summations may not equal due to rounding. As a result of our rounding convention and reclassifications noted above, differences may exist between the business trends data versus business data in the Form 10-Q for the quarter ended March 31, 2016 or other reports filed with the SEC.

16

EX-99.3

April 21, 2016

KEY FACTS – First Quarter 2016

Delivering for Shareholders

Total Shareholder Return	2014	2015	YTD 3/31/16
BNY Mellon	18.3%	3.3%	(10.2)%
11-Member Peer Group Median (a)	13.8%	(2.3)%	(10.3)%
S&P 500 Financials	15.2%	(1.6)%	(5.1)%
S&P 500 Index	13.7%	1.4%	1.4%

Strategic Priorities to Drive Growth
Driving Profitable Revenue Growth	• Leveraging our scale and expertise to create new sources of value • Delivering innovative strategic solutions with strong potential upside
Business Improvement Process	• Funding additional regulatory requirements as well as enhancements to technology and servicing platforms • Improving margins in our businesses • Lowering expenses in nearly every expense category
Being a Strong, Safe, Trusted Counterparty	• Strong liquidity and resilient capital positions • Excellent balance sheet credit quality
Generating Excess Capital and Deploying Capital Effectively	• Executing on capital plan and returning value to shareholders o    More than $760MM returned in common share repurchases and dividends in 1Q16 o    More than $3.2 billion returned in common share repurchases and dividends LTM through 1Q16
Attracting and Retaining Top Talent	• Building robust leadership pipeline for the future • Improving talent, succession and development planning

Revenue Trends

• Total revenue decreased 2%, or 1%, as adjusted (b)

• Fee income trends impacted by challenging revenue environment

◦ Investment Services fees increased 1%

◦ Investment Management and performance fees decreased 6%, or 4% on a constant currency basis, as adjusted (b)

• Combination of Investment Management and Investment Services positions us well for future revenue growth

Expense Control and Significant Positive Operating Leverage

• Continued execution of our Business Improvement Process

◦ Expenses decreased 3%, on both a reported and adjusted basis (b)

• Generated approximately 250 basis points of positive operating leverage¹, as adjusted (b)

AUC/A and AUM (c)

• AUC/A of $29.1 trillion increased 2%

◦ $40 billion of estimated new business wins in 1Q16

• AUM of $1.64 trillion decreased 5%

◦ $1 billion of net long-term AUM inflows in 1Q16

NOTE: Comparisons above are 1Q16 versus 1Q15 unless otherwise stated.

Page - 1

Managing Technology as a Strategic Asset

• Focusing on enhancing the client experience

• Optimizing our infrastructure to create efficiencies and cost savings

• Insourcing application development to retain talent and expertise

• Converting clients to Strategic Platforms, retiring legacy systems

• Shifting our technology investments from tactical to strategic

• Digitizing BNY Mellon: BNY Mellon Extreme Platform (BXP); Digital Pulse

• Extending technology solutions leadership: Eagle, Albridge, HedgeMark

• Deploying NEXEN: Our next generation, intelligent and secure, open-architecture platform

◦ NEXEN Gateway, API Store, App Store

Business Improvement Process

Revenue initiatives	Expense Initiatives
o     Expanded Wealth Management sales force, driving healthy new revenue opportunities backed by strong pipeline	o     Optimizing our real estate: Reduced rentable square footage and built out Global Delivery Centers for further migrations
o     Expanded scope of Client Pricing Strategy group to include reviewing balance sheet-related business practices and standardizing pricing across business units	o     Implemented initiative to drive higher volume of corporate action instructions through electronic channels
o     Strategic Platform Investments (Real Estate / Private Equity Administration, etc.)	o     Relocated more than 225 positions to balance our workforce globally
o     Extending private banking solutions to Pershing clients, driving record levels of loans and deposits	o     Developed tools to reduce costs and improve the delivery of market data

• Numerous ongoing initiatives focused on: Business Excellence; Continuous Process Improvement; Client Technology Solutions; Corporate Services; and Business Partner Activity Process

Resilient Capital Position and Returning Value to Shareholders

• Resilient capital and strong liquidity positions

• Estimated SLR on a fully phased-in (Non-GAAP) basis exceeded 5% (b)

• Estimated common equity tier 1 ratio, fully phased-in (Non-GAAP) under the Advanced Approach of 9.8% (b)

• Compliant with fully phased-in requirements of U.S. LCR² 

• 2015 Capital Plan³: authorized to repurchase up to $3.1 billion in common stock and maintain strong dividend payout ratio

◦ Repurchased 16.2 million common shares for $577 million in 1Q16

• Delivered adjusted return on tangible common equity of 21% in 1Q16(b)

Three-Year Financial Goals⁴ — Operating Basis: 2015 through 2017

	Flat	Normalizing
Revenue Growth5	3.5 - 4.5%	6 - 8%
EPS Growth5	7 - 9%	12 - 15%
Return on Tangible Common Equity	17 - 19%	20 - 22%
Assumptions	• NIM: 95 - 100 bps • Operating margin: 28 - 30% • Environment: no deterioration in volatility, volume, short-term interest rates	• NIM: 125 - 150 bps • Operating margin: 30 - 32%
	100% payout ratio Execution on expense and revenue initiatives Equity market, +5% p.a. Reasonable regulatory outcomes Deposits, money market balances and fee waivers recovery as modeled

Page - 2

LTM = Last Twelve Months; AUC/A = Assets Under Custody/Administration; AUM = Assets Under Management; API = Application Programming Interface; SLR = Supplementary Leverage Ratio

(a) For information about our 11-Member Peer Group, see page 49 of our Proxy Statement dated

March 11, 2016.

(b) This fact sheet includes Non-GAAP measures. These measures are used by management to monitor financial performance and capital adequacy and BNY Mellon believes they are useful to investors in analyzing financial results and trends of ongoing operations because they permit a focus on period-to-period comparisons, which relate to the ability of BNY Mellon to enhance revenue and limit expenses in circumstances where such matters are within BNY Mellon's control.  For a reconciliation of these measures and further information, see “Supplemental information – Explanation of GAAP and Non-GAAP Financial Measures” in BNY Mellon’s Quarterly Earnings Release dated April 21, 2016, filed as an exhibit to the Current Report on Form 8-K to which this fact sheet is furnished as an exhibit.

(c) Preliminary.

1 Pre-tax operating leverage is the rate of increase in total revenue less the rate of increase in total noninterest expense. The year-over-year pre-tax operating leverage (Non-GAAP) was 247 basis points, reflecting a decrease in total revenue, as adjusted (Non-GAAP), of 64 basis points; and a decrease in total noninterest expense excluding amortization of intangible assets, M&I, litigation and restructuring charges, as adjusted (Non-GAAP), of 311 basis points.

2 Estimated U.S. Liquidity Coverage Ratio (LCR) is compliant with the fully phased-in requirements as

of March 31, 2016 based on our current understanding of the U.S. LCR rules.

3 The 2015 Capital Plan covers five fiscal quarters, ending June 30, 2016; and includes $700MM of the common stock repurchases, contingent on the prior issuance of $1B of qualifying preferred stock, and a quarterly common dividend of $0.17 cents per common share. On April 28, 2015, the Company completed a $1B preferred stock offering.

4 Additional information regarding Financial Goals is available in the company’s 2014 Investor Day presentation available at www.bnymellon.com/investorrelations.

5 Represents compound annual growth rates (CAGR).

NOTE: Normalizing environment represents market consensus on rates; Flat environment assumes no rate increase from present. Financial projections are reflected on a non-GAAP basis - excludes merger and integration, restructuring and litigation expenses, and other non-recurring items. Additional disclosure regarding non-GAAP measures is available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. Actual results may vary materially.

This fact sheet may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including our estimated capital ratios, preliminary business metrics and our strategic priorities, technology, business improvement process, capital plans and financial goals. These statements, which may be expressed in a variety of ways, include the use of future or present tense language. These statements and other forward-looking statements contained in other public disclosures of BNY Mellon, are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond BNY Mellon’s control). Factors that could cause BNY Mellon’s results to differ materially from those described in the forward-looking statements can be found in the risk factors set forth in BNY Mellon’s Annual Report on Form 10-K for the year ended Dec. 31, 2015 and its other filings with the Securities and Exchange Commission. All forward-looking statements in this fact sheet speak only as of April 21, 2016 and BNY Mellon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.

Additional information about BNY Mellon is available in our annual report on Form 10-K, proxy statement, quarterly reports on Form 10-Q and our current reports on Form 8-K filed with the SEC, available at www.sec.gov.

Page - 3

EX-99.4

BNY Mellon First Quarter 2016 Financial Highlights April 21, 2016

2 First Quarter 2016 – Financial Highlights Cautionary Statement A number of statements in our presentations, the accompanying slides and the responses to your questions are “forward-looking statements.” Words such as “estimate”, “forecast”, “project”, “anticipate”, “target”, “expect”, “intend”, “continue”, “seek”, “believe”, “plan”, “goal”, “could”, “should”, “may”, “will”, “strategy”, “opportunities”, “trends” and words of similar meaning signify forward-looking statements. These statements relate to, among other things, The Bank of New York Mellon Corporation’s (the “Corporation”) expectations regarding: strategic priorities, financial goals, client experience, driving profitable growth, business improvement process, capital plans, estimated capital ratios and expectations regarding those ratios; preliminary business metrics; and statements regarding the Corporation's aspirations, as well as the Corporation’s overall plans, strategies, goals, objectives, expectations, estimates, intentions, targets, opportunities and initiatives. These forward-looking statements are based on assumptions that involve risks and uncertainties and that are subject to change based on various important factors (some of which are beyond the Corporation’s control). Actual results may differ materially from those expressed or implied as a result of the factors described under “Forward Looking Statements” and “Risk Factors” in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015 (the “2015 Annual Report”), and in other filings of the Corporation with the Securities and Exchange Commission (the “SEC”).  Such forward-looking statements speak only as of April 21, 2016, and the Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. Non-GAAP Measures:  In this presentation we may discuss some non-GAAP measures in detailing the Corporation’s 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 adjusted measures are contained in the Corporation’s reports filed with the SEC, including the 2015 Annual Report and the Corporation's Earnings Release for the quarter ended March 31, 2016, included as an exhibit to our Current Report on Form 8-K filed on April 21, 2016 (the “Earnings Release”), available at www.bnymellon.com/investorrelations.

3 First Quarter 2016 – Financial Highlights First Quarter Financial Highlights • Earnings per common share of $0.73, including: • $0.01 per common share for litigation and restructuring charges • Earnings per common share +10% on an adjusted basis1 • Generated approximately 250 bps of positive operating leverage on an adjusted basis1 • Net interest revenue +5% and fee and other revenue (1%) • Total noninterest expense (3%) on a reported and adjusted basis1 • Executing on capital plan and return of value to common shareholders • Repurchased 16.2 million common shares for $577 million • Return on tangible common equity1 of 21%; 21% on an adjusted basis1 • Estimated SLR1 on a fully phased-in basis exceeded 5% 1 Represents a Non-GAAP measure. See Appendix for reconciliations. Additional disclosures regarding these measures and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. Note: All comparisons are 1Q16 versus 1Q15. Note: Pre-tax operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. bps - basis points

4 First Quarter 2016 – Financial Highlights First Quarter 2016 Key Messages • Executing on our strategic priorities; delivering on our three-year financial goals set at our 2014 Investor Day • Focused on enhancing the client experience and driving profitable revenue growth ◦ Broadening existing client relationships and selectively adding new business • Business Improvement Process designed to leverage scale, increase efficiency and effectiveness, and reduce risk and structural costs ◦ In a low organic revenue growth environment, the Business Improvement Process is enabling us to fund: ▪ Additional regulatory requirements ▪ Enhancements to our technology and servicing platforms ▪ Revenue growth initiatives ▪ Improving our operating margin • Continue to return significant value to shareholders through share repurchases and dividends

5 First Quarter 2016 – Financial Highlights First Quarter 2016 Key Performance Drivers • Earnings per common share of $0.74, +10% on an adjusted basis1, driven by higher money market fees, growth in net interest revenue related to higher yields, securities lending and continued execution of our Business Improvement Process • Investment management and performance fees (6%); on a constant currency basis (Non-GAAP)1 (4%), driven by lower equity market values and net outflows in 2015 • Investment services fees +1% reflecting higher money market fees and net new business, partially offset by lower market values and lost business in Clearing Services • Market-sensitive revenue driven by strategic balance sheet management and securities lending revenue growth • Foreign Exchange (21%) reflecting lower volumes • Securities Lending +16% driven by wider spreads • Net Interest Revenue +$38 million driven by higher yields on interest-earning assets, partially offset by higher rates paid on interest-bearing liabilities and the unfavorable impact of interest rate hedging activities • Provision for credit losses was $10 million in 1Q16 versus a provision of $2 million in 1Q15 • Noninterest expense on an adjusted basis1 (3%) reflects lower expenses in nearly all categories, driven by the favorable impact of a stronger U.S. dollar, lower staff and legal expenses and the benefit of the Business Improvement Process, partially offset by higher distribution and servicing expense • Effective tax rate of 25.9% 1 Represents a Non-GAAP measure. See Appendix for reconciliations. Additional disclosures regarding these measures and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. Note: All comparisons are 1Q16 versus 1Q15.

6 First Quarter 2016 – Financial Highlights Summary Financial Results for First Quarter 2016 Growth vs. $ in millions, except per share data 1Q16 4Q15 1Q15 4Q15 1Q15 Revenue $ 3,730 $ 3,726 $ 3,792 — % (2)% Expenses $ 2,629 $ 2,692 $ 2,700 (2)% (3)% Income before income taxes $ 1,091 $ 871 $ 1,090 25 % — % Pre-tax operating margin 29 % 23 % 29 % EPS $ 0.73 $ 0.57 $ 0.67 28 % 9 % Return on Tangible Common Equity1 20.6% 16.2% 20.3% 1 Represents a Non-GAAP measure. See Appendix for reconciliation. Additional disclosures regarding this measure and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. Note: Provision for credit losses was $10 million in 1Q16 versus a provision of $2 million in 1Q15 and a provision of $163 million in 4Q15.

7 First Quarter 2016 – Financial Highlights Summary Financial Results for First Quarter 2016 (Non-GAAP)1 Growth vs. $ in millions, except per share data 1Q16 4Q15 1Q15 4Q15 1Q15 Revenue $ 3,737 $ 3,721 $ 3,761 —% (1)% Expenses $ 2,555 $ 2,610 $ 2,637 (2)% (3)% Operating leverage2 254 bps 247 bps Income before income taxes $ 1,172 $ 1,118 $ 1,122 5% 4 % Pre-tax operating margin 31 % 30 % 30 % EPS $ 0.74 $ 0.68 $ 0.67 9% 10 % Return on Tangible Common Equity 20.8% 19.0% 20.2% 1 Represents Non-GAAP measures. See Appendix for reconciliations. Additional disclosures regarding these measures and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. 2 Pre-tax operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. The year-over-year pre-tax operating leverage (Non-GAAP) was based on a decrease in total revenue, as adjusted (Non-GAAP), of 64 basis points, and a decrease in total noninterest expense, as adjusted (Non-GAAP), of 311 basis points. The sequential operating leverage (Non-GAAP) was based on an increase in total revenue, as adjusted (Non-GAAP), of 43 basis points, and a decrease in total noninterest expense, as adjusted (Non-GAAP), of 211 basis points. bps - basis points

8 First Quarter 2016 – Financial Highlights Fee and Other Revenue (Consolidated) Growth vs. Year-over-Year Drivers ($ in millions) 1Q16 4Q15 1Q15 Investment services fees: Asset ServicingŸ Net new business and higher securities lending revenue, offset by lower market values and the unfavorable impact of a stronger U.S. dollar Clearing Services Ÿ Higher money market fees, partially offset by the impact of lost business Issuer Services Ÿ Higher money market fees in Corporate Trust and higher dividend fees in Depositary Receipts Treasury Services Ÿ Higher compensating balance credits provided to clients, which shifts revenue from fees to net interest revenue Investment Management and Performance Fees Ÿ (4%) on a constant currency basis (Non-GAAP)2, reflecting lower equity market values and net outflows in 2015, partially offset by higher money market fees Foreign Exchange & Other Trading Revenue Ÿ FX revenue of $171MM - Reflects lower volumes. Other trading revenue decreased, reflecting losses on hedging activities in the Investment Management businesses, partially offset by the positive impact of interest rate hedging (which is offset in net interest revenue) and higher fixed income trading revenue Financing-related Fees Ÿ Higher fees related to secured intraday credit Distribution and Servicing Ÿ Favorably impacted by higher money market fees, but were more than offset by certain fees paid to introducing brokers Investment and other income Ÿ Primarily reflects higher lease-related gains Asset servicing1 $ 1,040 1% — % Clearing services 350 3 2 Issuer services 244 23 5 Treasury services 131 (4) (4) Total investment services fees 1,765 3 1 Investment management and performance fees 812 (6) (6) Foreign exchange and other trading revenue 175 1 (24) Financing-related fees 54 6 35 Distribution and servicing 39 (5) (5) Total fee revenue excluding investment and other income 2,845 — (3) Investment and other income 105 13 75 Total fee revenue 2,950 1 (1) Net securities gains 20 N/M N/M Total fee and other revenue $ 2,970 1% (1)% 1 Asset servicing fees include securities lending revenue of $50 million in 1Q16, $43 million in 1Q15, and $46 million in 4Q15. 2 Represents a Non-GAAP measure. See Appendix for reconciliations. Additional disclosures regarding these measures and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. Note: Please reference earnings release for quarter-over-quarter variance explanations. N/M - not meaningful

9 First Quarter 2016 – Financial Highlights Investment Management Metrics Change in Assets Under Management (AUM)1 Growth vs. $ in billions 1Q16 LTM 1Q16 4Q15 1Q15 Beginning balance of AUM $1,625 $1,717 Net inflows (outflows): Long-Term: Equity (3) (29) Fixed income — (4) Liability-driven investments2 14 41 Alternative investments 1 7 Total long-term active inflows (outflows) 12 15 Index (11) (46) Total long-term inflows (outflows) 1 (31) Short-term: Cash (9) (28) Total net (outflows) inflows (8) (59) Net market/currency impact/acquisition 22 (19) Ending balance of AUM3 $1,639 $1,639 1% (5)% Average balances: Growth vs. $ in millions 1Q16 4Q15 1Q15 Average loans $ 14,275 6% 23% Average deposits $ 15,971 3% 5% 1 Excludes securities lending cash management assets and assets managed in the Investment Services business. 2 Includes currency overlay assets under management. 3 Preliminary.

10 First Quarter 2016 – Financial Highlights Investment Services Metrics Growth vs. 1Q16 4Q15 1Q15 Assets under custody and/or administration at period end (trillions)1,2 $ 29.1 1 % 2 % Estimated new business wins (AUC/A) (billions)2 $ 40 Market value of securities on loan at period end (billions)3 $ 300 8 % 3 % Average loans (millions) $ 45,004 (2)% — % Average deposits (millions) $ 215,707 (6)% (8)% Broker-Dealer Average tri-party repo balances (billions) 2,104 (2)% (2)% Clearing Services Average active clearing accounts (U.S. platform) (thousands) 5,947 — % (1)% Average long-term mutual fund assets (U.S. platform) (millions) $ 415,025 (5)% (9)% Depositary Receipts Number of sponsored programs 1,131 (1)% (10)% 1 Includes the AUC/A of CIBC Mellon of $1.1 trillion at March 31, 2016 and March 31, 2015 and 1.0 trillion at Dec. 31, 2015. 2 Preliminary. 3 Represents the total amount of securities on loan managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $56 billion at March 31, 2016, $55 billion at Dec. 31, 2015 and $69 billion at March 31, 2015.

11 First Quarter 2016 – Financial Highlights Net Interest Revenue Growth vs. Year-over-Year Drivers ($ in millions) 1Q16 4Q15 1Q15 Net interest revenue (non-FTE) $ 766 1 % 5% Net Interest Revenue ŸHigher yields on interest-earning assets, +9 bps, partially offset by higher rates paid on interest- bearing liabilities and the unfavorable impact of interest rate hedging activities (which are primarily offset in foreign exchange and other trading revenue) Net interest revenue (FTE) - Non-GAAP 780 1 5 Net interest margin (FTE) 1.01% 2 bps 4 bps Selected Average Balances: Cash/interbank investments $ 127,624 (1)% 3% Trading account securities 3,320 19 9 Securities 118,538 (1) (4) Loans 61,196 (1) 6 Interest-earning assets 310,678 (1) 1 Interest-bearing deposits 162,017 1 2 Noninterest-bearing deposits 82,944 (3) (7) Note: Please reference earnings release for quarter-over-quarter variance explanations. FTE – fully taxable equivalent bps – basis points

12 First Quarter 2016 – Financial Highlights Noninterest Expense Growth vs. Year-over-Year Drivers ($ in millions) 1Q16 4Q15 1Q15 Staff $ 1,459 (1)% (2)% Ÿ Lower expenses in nearly all categories, primarily driven by the favorable impact of a stronger U.S. dollar, lower staff and legal expenses and the benefit of the Business Improvement Process, partially offset by higher distribution and servicing expense. The savings generated by the Business Improvement Process primarily reflects the benefits of our technology insourcing strategy and the implementation of our global real estate strategy Ÿ Staff expense decreased year-over-year primarily reflecting lower estimated 2016 incentives and a higher adjustment for the finalization of the annual incentive awards, partially offset by the curtailment gain related to the U.S. pension plan recorded in 1Q15 and higher severance expense in ongoing support of our Business Improvement Process Professional, legal and other purchased services 278 (15) (8) Software and equipment 219 (3) (4) Net occupancy 142 (4) (6) Distribution and servicing 100 9 2 Sub-custodian 59 (2) (16) Business development 57 (24) (7) Other 241 20 — Amortization of intangible assets 57 (11) (14) M&I, litigation and restructuring charges 17 N/M N/M Total noninterest expense – GAAP $ 2,629 (2)% (3)% Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges – Non-GAAP1 $ 2,555 (2)% (3)% Full-time employees 52,100 900 1,600 1 Represents a Non-GAAP measure. See Appendix for reconciliation. Additional disclosures regarding this measure and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. Note: Please reference earnings release for quarter-over-quarter variance explanations. N/M - not meaningful

13 First Quarter 2016 – Financial Highlights Capital Ratios Highlights 3/31/16 12/31/15 Consolidated regulatory capital ratios:1,2 Ÿ Repurchased 16.2 million common shares for $577 million in 1Q16 Ÿ In 1Q16, declared a quarterly dividend of $0.17 per common share Ÿ Compliant with fully phased-in U.S. Liquidity Coverage Ratio (LCR)5 Ÿ Estimated SLR on a fully phased-in basis exceeded 5% CET1 ratio 10.6% 10.8% Tier 1 capital ratio 12.0 12.3 Total (Tier 1 plus Tier 2) capital ratio 12.2 12.5 Leverage capital ratio 5.9 6.0 Selected regulatory capital ratios - fully phased-in - Non- GAAP:1 Estimated CET1 ratio: Standardized approach 11.0% 10.2% Advanced approach 9.8 9.5 Estimated supplementary leverage ratio ("SLR")3,4 5.1% 4.9% Note: See corresponding footnotes on following slide.

14 First Quarter 2016 – Financial Highlights Capital Ratio Footnotes 1 March 31, 2016 regulatory capital ratios are preliminary. See the “Capital Ratios” section in the earnings release for additional detail. 2 At March 31, 2016 and Dec. 31, 2015, the CET1, Tier 1 and Total risk-based consolidated regulatory capital ratios determined under the transitional Basel III Standardized Approach were 11.8%, 13.5% and 13.9%, respectively, and 11.5%, 13.1% and 13.5%, respectively. 3 Please reference slide 21. See the “Capital Ratios” section in the earnings release for additional detail. 4 The estimated SLR on a fully phased-in basis (Non-GAAP) for our largest bank subsidiary, The Bank of New York Mellon, was 5.2% at March 31, 2016 and 4.8% at Dec. 31, 2015. 5 The U.S. LCR rules became effective Jan. 1, 2015 and currently require BNY Mellon to meet an LCR of 90%, increasing to 100% when fully phased-in on Jan. 1, 2017. Our estimated LCR on a consolidated basis is compliant with the fully phased-in requirements of the U.S. LCR as of March 31, 2016 based on our understanding of the U.S. LCR rules. Our consolidated high-quality liquid assets (“HQLA”) before haircuts, totaled $202 billion at March 31, 2016, compared with $218 billion at Dec. 31, 2015.

16 First Quarter 2016 – Financial Highlights Investment Management . Growth vs. ($ in millions) 1Q16 4Q15 1Q15 Investment management and performance fees $ 797 (7)% (5)% Distribution and servicing 46 18 21 Other1 (31) N/M N/M Net interest revenue 83 (1) 11 Total Revenue $ 895 (10)% (10)% Noninterest expense (ex. amortization of intangible assets) $ 660 (4)% (7)% Income before taxes (ex. provision for credit losses and amortization of intangible assets) $ 235 (24)% (18)% Provision for credit losses (1) N/M N/M Amortization of intangible assets 19 (21)% (21)% Income before taxes $ 217 (25)% (17)% Pre-tax operating margin 24% (478) bps (214) bps Adjusted pre-tax operating margin2,3 30% (553) bps (390) bps 1 Total fee and other revenue includes the impact of the consolidated investment management funds, net of noncontrolling interests. Additionally, other revenue includes asset servicing, treasury services, foreign exchange and other trading revenue and investment and other income. 2 Excludes the net negative impact of money market fee waivers, amortization of intangible assets and provision for credit losses and is net of distribution and servicing expense. 3 Represents a Non-GAAP measure. See Slide 22 for reconciliation. Additional disclosures regarding these measures and other Non-GAAP adjusted measures are available in the Corporation’s reports filed with the SEC, available at www.bnymellon.com/investorrelations. N/M - not meaningful bps – basis points

17 First Quarter 2016 – Financial Highlights Investment Services Growth vs. ($ in millions) 1Q16 4Q15 1Q15 Investment services fees: Asset servicing $ 1,016 1% — % Clearing services 348 3 2 Issuer services 244 23 6 Treasury services 129 (4) (4) Total investment services fees $ 1,737 3 1 Foreign exchange and other trading revenue 168 12 (21) Other1 125 (2) 36 Net interest revenue 679 2 8 Total revenue $ 2,709 3% 2 % Noninterest expense (ex. amortization of intangible assets) $ 1,770 (1) (3) Income before taxes (ex. provision for credit losses and amortization of intangible assets) $ 939 13% 12 % Provision for credit losses 14 N/M N/M Amortization of intangible assets 38 (5) (7) Income before taxes $ 887 13% 13 % Pre-tax operating margin 33% 289 bps 308 bps Pre-tax operating margin (ex. provision for credit losses and amortization of intangible assets) 35% 299 bps 322 bps Investment services fees as a percentage of noninterest expense2 99% 413 bps 446 bps 1 Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue and investment and other income. 2 Noninterest expense excludes amortization of intangible assets and litigation expense. N/M - not meaningful bps – basis points

18 First Quarter 2016 – Financial Highlights Expense & Pre-Tax Operating Margin - Non-GAAP Reconciliation 1Q16 4Q15 1Q15 QoQ Operating Leverage YoY Operating Leverage($ in millions) Total revenue – GAAP $ 3,730 $ 3,726 $ 3,792 Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds (7) 5 31 Total revenue, as adjusted – Non-GAAP2 $ 3,737 $ 3,721 $ 3,761 0.43 % (0.64)% Total noninterest expense – GAAP $ 2,629 $ 2,692 $ 2,700 Less: Amortization of intangible assets 57 64 66 M&I, litigation and restructuring charges 17 18 (3) Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges – Non-GAAP2 $ 2,555 $ 2,610 $ 2,637 (2.11)% (3.11)% Less: Provision for credit losses 10 163 2 Add: Impairment charge related to a prior court decision — 170 — Income before income taxes, as adjusted – Non-GAAP2 $ 1,172 $ 1,118 $ 1,122 Operating Leverage Pre-tax operating margin – Non-GAAP1,2,3 31% 30% 30% +254 bps +247 bps 1 Income before taxes divided by total revenue. 2 Non-GAAP excludes net (loss) income attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets, M&I, litigation and restructuring charges (recoveries) and the impairment charge related to a prior court decision, if applicable. 3 Our GAAP earnings include tax-advantaged investments such as low income housing, renewable energy, bank-owned life insurance and tax-exempt securities. The benefits of these investments are primarily reflected in tax expense. If reported on a tax-equivalent basis these investments would increase revenue and income before taxes by $77 million for 1Q16, $73 million for 4Q15, $53 million for 3Q15, $52 million for 2Q15 and $64 million for 1Q15 and would increase our pre-tax operating margin by approximately 1.4% for 1Q16, 1.5% for 4Q15, 1.0% for 3Q15, 0.9% for 2Q15 and 1.2% for 1Q15. bps - basis points

19 First Quarter 2016 – Financial Highlights Return on Tangible Common Equity Reconciliation 1Q16 4Q15 1Q15 ($ in millions) Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $ 804 $ 637 $ 766 Add: Amortization of intangible assets, net of tax 37 42 43 Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets – Non-GAAP 841 679 809 Add: M&I, litigation and restructuring charges 11 12 (2) Impairment charge related to a prior court decision — 106 — Net income applicable to common shareholders of The Bank of New York Mellon Corporation, as adjusted – Non-GAAP2 $ 852 $ 797 $ 807 Average common shareholders’ equity $ 35,252 $ 35,664 $ 35,486 Less: Average goodwill 17,562 17,673 17,756 Average intangible assets 3,812 3,887 4,088 Add: Deferred tax liability – tax deductible goodwill1 1,428 1,401 1,362 Deferred tax liability – intangible assets1 1,140 1,148 1,200 Average tangible common shareholders’ equity - Non-GAAP $ 16,446 $ 16,653 $ 16,204 Return on tangible common equity – Non-GAAP3 20.6% 16.2% 20.3% Return on tangible common equity – Non-GAAP adjusted2,3 20.8% 19.0% 20.2% 1 Deferred tax liabilities are based on fully phased-in Basel III rules. 2 Non-GAAP excludes amortization of intangible assets, net of tax, M&I, litigation and restructuring charges (recoveries) and the impairment charge related to a prior court decision, if applicable. 3 Annualized.

20 First Quarter 2016 – Financial Highlights GAAP Revenue and Non-GAAP Earnings Per Share Reconciliation Revenue - GAAP ($ in millions) 1Q16 4Q15 1Q15 Investment services fees: Asset servicing1 $ 1,040 $ 1,032 $ 1,038 Clearing services 350 339 344 Issuer services 244 199 232 Treasury services 131 137 137 Total investment services fees 1,765 1,707 1,751 Investment management and performance fees 812 864 867 Foreign exchange and other trading revenue 175 173 229 Financing-related fees 54 51 40 Distribution and servicing 39 41 41 Investment and other income 105 93 60 Total fee revenue 2,950 2,929 2,988 Net securities gains 20 21 24 Total fee and other revenue $ 2,970 $ 2,950 $ 3,012 (Loss) Income from consolidated investment management funds (6) 16 52 Net interest revenue 766 760 728 Total revenue - GAAP $ 3,730 $ 3,726 $ 3,792 1 Asset servicing fees include securities lending revenue of $50 million in 1Q16, $43 million in 1Q15, and $46 million in 4Q15. Earnings per share Growth vs. 1Q16 4Q15 1Q15 4Q15 1Q15 GAAP results $ 0.73 $ 0.57 $ 0.67 Add: Litigation and restructuring charges 0.01 0.01 N/A Impairment charge related to a prior court decision N/A 0.10 N/A Non-GAAP results $ 0.74 $ 0.68 $ 0.67 9% 10%

21 First Quarter 2016 – Financial Highlights Estimated Fully Phased-In SLR1 - Non-GAAP Reconciliation ($ in millions) 3/31/162 12/31/15 Total estimated fully phased-in Basel III CET1 - Non-GAAP $ 16,603 $ 16,082 Additional Tier 1 capital 2,544 2,530 Total Tier 1 capital $ 19,147 $ 18,612 Total leverage exposure: Quarterly average total assets $ 364,554 $ 368,590 Less: Amounts deducted from Tier 1 capital 19,304 19,403 Total on-balance sheet assets, as adjusted 345,250 349,187 Off-balance sheet exposures: Potential future exposure for derivatives contracts (plus certain other items) 5,838 7,158 Repo-style transaction exposures included in SLR 403 440 Credit-equivalent amount of other off-balance sheet exposures (less SLR exclusions) 24,950 26,025 Total off-balance sheet exposures 31,191 33,623 Total leverage exposure $ 376,441 $ 382,810 Estimated fully phased-in SLR - Non-GAAP3 5.1% 4.9% 1 The estimated fully phased-in SLR (Non-GAAP) is based on our interpretation of the U.S. capital rules. When the SLR is fully phased-in in 2018, we expect to maintain an SLR of over 5%. The minimum required SLR is 3% and there is a 2% buffer, in addition to the minimum, that is applicable to U.S. G-SIBs. 2 March 31, 2016 information is preliminary. 3 The estimated SLR on a fully phased-in basis (Non-GAAP) for our largest bank subsidiary, The Bank of New York Mellon, was 5.2% at March 31, 2016 and 4.8% at Dec. 31, 2015 At March 31, 2016 and Dec. 31, 2015, total Tier 1 capital was $16,167 million and $15,142 million, respectively, and total leverage exposure was $312,988 million and $316,270 million, respectively, for The Bank of New York Mellon.

22 First Quarter 2016 – Financial Highlights Pre-Tax Operating Margin – Investment Management Reconciliation 1Q16 4Q15 1Q15 ($ in millions) Income before income taxes – GAAP $ 217 $ 290 $ 263 Add: Amortization of intangible assets 19 24 24 Provision for credit losses (1) (4) (1) Money market fee waivers 9 23 33 Income before income taxes excluding amortization of intangible assets, provision for credit losses and money market fee waivers – Non-GAAP $ 244 $ 333 $ 319 Total revenue – GAAP $ 895 $ 999 $ 994 Less: Distribution and servicing expense 100 92 97 Money market fee waivers benefiting distribution and servicing expense 23 27 38 Add: Money market fee waivers impacting total revenue 32 50 71 Total revenue net of distribution and servicing expense and excluding money market fee waivers - Non- GAAP $ 804 $ 930 $ 930 Pre-tax operating margin1 24% 29% 26% Pre-tax operating margin excluding amortization of intangible assets, provision for credit losses, money market fee waivers and net of distribution and servicing expense – Non-GAAP1 30% 36% 34% 1 Income before taxes divided by total revenue.

23 First Quarter 2016 – Financial Highlights Investment Management and Performance Fees - Non-GAAP Investment management fees - Investment Management business Growth vs. ($ in millions) 1Q16 1Q15 1Q15 Investment management fees - GAAP $ 786 $ 825 (5)% Impact of changes in foreign currency exchange rates — (18) Investment management fees, as adjusted - Non-GAAP $ 786 $ 807 (3)% Investment management and performance fees - Consolidated Growth vs. ($ in millions) 1Q16 1Q15 1Q15 Investment management and performance fees - GAAP $ 812 $ 867 (6)% Impact of changes in foreign currency exchange rates — (18) Investment management and performance fees, as adjusted - Non-GAAP $ 812 $ 849 (4)%