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) – July 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))

ITEM 2.02.    RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 21, 2016, The Bank of New York Mellon Corporation (“BNY Mellon”) issued an Earnings Release announcing its financial results for the second 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 July 21, 2016, in conjunction with a conference call and webcast regarding BNY Mellon’s financial results, Quarterly Financial Trends and a Second Quarter 2016 Financial Highlights presentation are available on BNY Mellon’s website, www.bnymellon.com. A copy of each of the Quarterly Financial Trends and the Second Quarter 2016 Financial Highlights presentation is “furnished” as Exhibits 99.2 and 99.3, 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 and 99.3 shall be deemed furnished herewith.

(d)    EXHIBITS.

Exhibit
Number	Description
99.1	The Bank of New York Mellon Corporation Earnings Release dated July 21, 2016, announcing financial results for the second quarter of 2016.
99.2	The Bank of New York Mellon Corporation Quarterly Financial Trends dated July 21, 2016, for the second quarter of 2016.
99.3	Second Quarter 2016 Financial Highlights Presentation dated July 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: July 21, 2016	By: /s/ Craig T. Beazer
	Name: Craig T. Beazer Title: Secretary

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EXHIBIT INDEX

Number	Description	Method of Filing
99.1	Earnings Release dated July 21, 2016.	Filed herewith (other than the Excluded Section)
99.2	Quarterly Financial Trends dated July 21, 2016.	Furnished herewith
99.3	Second Quarter 2016 Financial Highlights Presentation dated July 21, 2016.	Furnished herewith

EX-99.1

BNY Mellon 2Q16 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 SECOND QUARTER EARNINGS OF $825 MILLION OR $0.75 PER COMMON SHARE

• Earnings of $830 million or $0.76 per common share on an adjusted basis (a)

• Earnings per common share up 3%, or down 1% on an adjusted basis year-over-year (a)

CONTINUED FOCUS ON EXPENSE CONTROL

• Total noninterest expense decreased 4%, or 2% on an adjusted basis year-over-year (a)

TOTAL REVENUE OF $3.78 BILLION

• Fee and other revenue decreased 2% year-over-year

• Net interest revenue decreased 2% year-over-year

EXECUTING ON CAPITAL PLAN AND RETURNING VALUE TO COMMON SHAREHOLDERS

• Repurchased 12.5 million common shares for $509 million

• Return on common equity of 9%; Adjusted return on tangible common equity of 21%(a)

BOARD APPROVED PREVIOUSLY ANNOUNCED COMMON STOCK DIVIDEND INCREASE OF 12% AND THE REPURCHASE OF UP TO APPROXIMATELY $2.7 BILLION OF COMMON STOCK

NEW YORK, July 21, 2016 – The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) today reported second quarter net income applicable to common shareholders of $825 million, or $0.75 per diluted common share, or $830 million, or $0.76 per diluted common share, adjusted for M&I, litigation and restructuring charges (Non-GAAP). In the second quarter of 2015, net income applicable to common shareholders was $830 million, or $0.73 per diluted common share, or $868 million, or $0.77 per diluted common share, adjusted for M&I, litigation and restructuring charges (Non-GAAP). In the first quarter of 2016, net income applicable to common shareholders was $804 million, or $0.73 per diluted common share (a).

“Our success in aggressively controlling expenses and executing on our business improvement process helped sustain earnings momentum in a period of market uncertainty. We continue to believe our distinctive capabilities in areas such as collateral management and liquidity services, middle-office outsourcing and liability-driven investments, as well as our efforts to build a digital enterprise, will drive revenue growth in the future. Our diversified, lower-risk business model positions us to deliver consistent results and solid risk-adjusted returns for our shareholders,” Gerald L. Hassell, chairman and chief executive officer, said.

_________________________________________________________________________________

(a) These measures are considered to be Non-GAAP. See the “Financial Summary” on page 4 for the Non-GAAP adjustments and additional information related to revenue and expense growth rates. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 24 for the adjusted earnings and earnings per common share reconciliation and tangible common equity ratio reconciliation.

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BNY Mellon 2Q16 Earnings Release

“Our digital transformation is simplifying how clients connect with us and creating services for the future. We are partnering with third-party developers to create a wider variety of new applications and, through our Innovation Centers, are collaborating with clients to develop scalable, enterprise solutions to meet their evolving needs,” Mr. Hassell added.

“Our status as a strong, safe, trusted counterparty is increasingly important to clients in times like this, and was proven by the results of the 2016 annual stress test. The earnings power and strength of our business model enabled us to announce a capital plan that includes share repurchases of up to $2.7 billion, and an approximately 12 percent increase in the quarterly dividend,” Mr. Hassell concluded.

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 July 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 July 21, 2016. Replays of the conference call and audio webcast will be available beginning July 21, 2016 at approximately 2 p.m. EDT through Aug. 20, 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.

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BNY Mellon 2Q16 Earnings Release

SECOND QUARTER 2016 FINANCIAL HIGHLIGHTS (a)

(comparisons are 2Q16 vs. 2Q15, 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)	2Q16			2Q15			Inc/(Dec)		2Q16		2Q15		Inc/(Dec)
GAAP results	$	0.75		$	0.73		3	%	$	825	$	830	(1	)%
Add: M&I, litigation and restructuring charges	—			0.03					5		38
Non-GAAP results	$	0.76	(b)	$	0.77	(b)	(1	)%	$	830	$	868	(4	)%

• Total revenue was $3.8 billion, a decrease of 3%, or 2% on an adjusted basis (Non-GAAP) (a).

-    Investment services fees increased slightly reflecting higher money market fees and net new business, offset by lower market values.

-    Investment management and performance fees decreased 5% driven by net outflows in 2015, the unfavorable impact of a stronger U.S. dollar and lower performance fees, offset by higher money market fees and the impact of the April 2016 acquisition of the assets of Atherton Lane Advisors, LLC (“Atherton”). Investment management and performance fees decreased 4% on a constant currency basis (Non-GAAP) (a).

-    Foreign exchange revenue decreased 8% reflecting lower volumes, offset by the positive net impact of foreign currency hedging activities.

-    Investment and other income decreased $30 million driven by lower lease-related gains, offset by foreign currency remeasurement gains.

-    Net interest revenue decreased $12 million driven by the negative impact of interest rate hedging activities and higher premium amortization adjustments related to the decrease in interest rates.

• The provision for credit losses was a credit of $9 million.

• Noninterest expense was $2.6 billion, a decrease of 4%, or 2% on an 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 litigation, staff and legal expenses and the benefit of the business improvement process, partially offset by higher net occupancy and distribution and servicing expenses.

• Effective tax rate of 24.9%.

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

-    AUC/A of $29.5 trillion increased 3% reflecting net new business and higher market values, partially offset by the unfavorable impact of a stronger U.S. dollar.

--    Estimated new AUC/A wins in Asset Servicing of $167 billion in 2Q16.

-    AUM of $1.66 trillion decreased 2% reflecting net outflows primarily in 2015 and the unfavorable impact of a stronger U.S. dollar (principally versus the British pound), offset by higher market values.

--    Net long-term outflows of $5 billion in 2Q16 were driven by index investments, offset by the continued strength in liability-driven investments.

--    Net short-term inflows totaled $4 billion in 2Q16.

•Capital

-    Repurchased 12.5 million common shares for $509 million in 2Q16.

-    Return on common equity of 9%; Adjusted return on tangible common equity of 21% in 2Q16(a).

-    Board approved previously announced common stock dividend increase of 12% and the repurchase of up to approximately $2.7 billion of common stock.

(a) See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 24 for the reconciliation of Non-GAAP measures. In all periods presented, Non-GAAP information excludes the net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets and M&I, litigation and restructuring charges. Non-GAAP information for 4Q15 also excludes the impairment charge related to a court decision regarding Sentinel Management Group, Inc (“Sentinel”).

(b) Does not foot due to rounding.

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

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BNY Mellon 2Q16 Earnings Release

FINANCIAL SUMMARY

(dollars in millions, except per share amounts; common shares in thousands)																2Q16 vs.
	2Q16			1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
Revenue:
Fee and other revenue	$	2,999		$	2,970		$	2,950		$	3,053		$	3,067		1%		(2)%
Income (loss) from consolidated investment management funds	10			(6		)	16			(22		)	40
Net interest revenue	767			766			760			759			779			—		(2	)
Total revenue – GAAP	3,776			3,730			3,726			3,790			3,886			1		(3	)
Less: Net income (loss) attributable to noncontrolling interests related to consolidated investment management funds	4			(7		)	5			(5		)	37
Total revenue – Non-GAAP	3,772			3,737			3,721			3,795			3,849			1		(2	)
Provision for credit losses	(9		)	10			163			1			(6		)
Expense:
Noninterest expense – GAAP	2,620			2,629			2,692			2,680			2,727			—		(4	)
Less: Amortization of intangible assets	59			57			64			66			65
M&I, litigation and restructuring charges	7			17			18			11			59
Total noninterest expense – Non-GAAP	2,554			2,555			2,610			2,603			2,603			—		(2	)
Income:
Income before income taxes	1,165			1,091			871			1,109			1,165			7%		—%
Provision for income taxes	290			283			175			282			276
Net income	$	875		$	808		$	696		$	827		$	889
Net (income) loss attributable to noncontrolling interests (a)	(2		)	9			(3		)	6			(36		)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	873			817			693			833			853
Preferred stock dividends	(48		)	(13		)	(56		)	(13		)	(23		)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	825		$	804		$	637		$	820		$	830
Operating leverage (b)																157	bps	109	bps
Operating leverage – Non-GAAP (b)																98	bps	(12	) bps
Key Metrics:
Pre-tax operating margin (c)	31		%	29		%	23		%	29		%	30		%
Pre-tax operating margin – Non-GAAP (c)	33		%	31		%	30		%	31		%	33		%
Return on common equity (annualized)(c)	9.3		%	9.2		%	7.1		%	9.1		%	9.4		%
Return on common equity (annualized) – Non-GAAP (c)	9.7		%	9.7		%	8.9		%	9.7		%	10.3		%
Return on tangible common equity (annualized) – Non-GAAP (d)	20.4		%	20.6		%	16.2		%	20.8		%	21.5		%
Adjusted return on tangible common equity (annualized) – Non-GAAP (c)(d)	20.5		%	20.8		%	19.0		%	21.0		%	22.5		%
Fee revenue as a percentage of total revenue	79		%	80		%	79		%	81		%	79		%
Percentage of non-U.S. total revenue	34		%	33		%	34		%	37		%	36		%
Average common shares and equivalents outstanding:
Basic	1,072,583			1,079,641			1,088,880			1,098,003			1,113,790
Diluted	1,078,271			1,085,284			1,096,385			1,105,645			1,122,135
Period end:
Full-time employees	52,200			52,100			51,200			51,300			50,700
Book value per common share – GAAP (d)	$	33.72		$	33.34		$	32.69		$	32.59		$	32.28
Tangible book value per common share – Non-GAAP (d)	$	16.25		$	15.87		$	15.27		$	15.16		$	14.86
Cash dividends per common share	$	0.17		$	0.17		$	0.17		$	0.17		$	0.17
Common dividend payout ratio	23		%	23		%	30		%	23		%	23		%
Closing stock price per common share	$	38.85		$	36.83		$	41.22		$	39.15		$	41.97
Market capitalization	$	41,479		$	39,669		$	44,738		$	42,789		$	46,441
Common shares outstanding	1,067,674			1,077,083			1,085,343			1,092,953			1,106,518

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

(b) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 24 for the components of this measure.

(c) Non-GAAP information for all periods presented excludes the net income (loss) attributable to noncontrolling interests related to consolidated investment management funds, amortization of intangible assets and M&I, litigation and restructuring charges. Non-GAAP information for 4Q15 also excludes the impairment charge related to a court decision regarding Sentinel. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 24 for the reconciliation of Non-GAAP measures.

(d) Tangible book value per common share - Non-GAAP and tangible common equity exclude goodwill and intangible assets, net of deferred tax liabilities. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 24 for the reconciliation of Non-GAAP measures.

bps – basis points.

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BNY Mellon 2Q16 Earnings Release

CONSOLIDATED BUSINESS METRICS

Consolidated business metrics																	2Q16 vs.
	2Q16				1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
Changes in AUM (in billions): (a)
Beginning balance of AUM	$	1,639			$	1,625		$	1,625		$	1,700		$	1,717
Net inflows (outflows):
Long-term:
Equity	(2		)		(3		)	(9		)	(4		)	(13		)
Fixed income	(2		)		—			1			(3		)	(2		)
Liability-driven investments (b)	15				14			11			11			5
Alternative investments	1				1			2			1			3
Total long-term active inflows (outflows)	12				12			5			5			(7		)
Index	(17		)		(11		)	(16		)	(10		)	(9		)
Total long-term (outflows) inflows	(5		)		1			(11		)	(5		)	(16		)
Short term:
Cash	4				(9		)	2			(10		)	(11		)
Total net (outflows)	(1		)		(8		)	(9		)	(15		)	(27		)
Net market impact/other	71				41			24			(35		)	(29		)
Net currency impact	(47		)		(19		)	(15		)	(25		)	39
Acquisition	2				—			—			—			—
Ending balance of AUM	$	1,664		(c)	$	1,639		$	1,625		$	1,625		$	1,700		2	%	(2	)%
AUM at period end, by product type: (a)
Equity	14		%		14		%	14		%	14		%	15		%
Fixed income	13				13			13			13			13
Index	18				19			20			20			21
Liability-driven investments (b)	34				33			32			32			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)	$	14,795			$	14,275		$	13,447		$	12,779		$	12,298		4	%	20	%
Average deposits (in millions)	$	15,518			$	15,971		$	15,497		$	15,282		$	14,638		(3	)%	6	%
Investment Services:
Average loans (in millions)	$	43,786			$	45,004		$	45,844		$	46,222		$	45,822		(3	)%	(4	)%
Average deposits (in millions)	$	221,998			$	215,707		$	229,241		$	232,250		$	238,404		3	%	(7	)%
AUC/A at period end (in trillions) (d)	$	29.5		(c)	$	29.1		$	28.9		$	28.5		$	28.6		1	%	3	%
Market value of securities on loan at period end (in billions) (e)	$	278			$	300		$	277		$	288		$	283		(7	)%	(2	)%
Asset servicing:
Estimated new business wins (AUC/A) (in billions)	$	167		(c)	$	40		$	49		$	84		$	933
Depositary Receipts:
Number of sponsored programs	1,112				1,131			1,145			1,176			1,206			(2	)%	(8	)%
Clearing services:
Average active clearing accounts (U.S. platform) (in thousands)	5,946				5,947			5,959			6,107			6,046			—	%	(2	)%
Average long-term mutual fund assets (U.S. platform) (in millions)	$	431,150			$	415,025		$	437,260		$	447,287		$	466,195		4	%	(8	)%
Average investor margin loans (U.S. platform) (in millions)	$	10,633			$	11,063		$	11,575		$	11,806		$	11,890		(4	)%	(11	)%
Broker-Dealer:
Average tri-party repo balances (in billions)	$	2,108			$	2,104		$	2,153		$	2,142		$	2,174		—	%	(3	)%

(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 June 30, 2016 and March 31, 2016, $1.0 trillion at Dec. 31, 2015 and Sept. 30, 2015 and $1.1 trillion at June 30, 2015.

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BNY Mellon 2Q16 Earnings Release

(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 June 30, 2016 and March 31, 2016, $55 billion at Dec. 31, 2015, $61 billion at Sept. 30, 2015 and $68 billion at June 30, 2015.

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BNY Mellon 2Q16 Earnings Release

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

Key market metrics																2Q16 vs.
	2Q16			1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
S&P 500 Index (a)	2099			2060			2044			1920			2063			2%		2%
S&P 500 Index – daily average	2075			1951			2052			2027			2102			6		(1	)
FTSE 100 Index (a)	6504			6175			6242			6062			6521			5		—
FTSE 100 Index – daily average	6204			5988			6271			6399			6920			4		(10	)
MSCI World Index (a)	1653			1648			1663			1582			1736			—		(5	)
MSCI World Index – daily average	1656			1568			1677			1691			1780			6		(7	)
Barclays Capital Global Aggregate BondSM Index (a)(b)	382			368			342			346			342			4		12
NYSE and NASDAQ share volume (in billions)	203			218			198			206			185			(7	)	10
JPMorgan G7 Volatility Index – daily average (c)	11.12			10.60			9.49			9.93			10.06			5		11
Average Fed Funds effective rate	0.37		%	0.36		%	0.16		%	0.13		%	0.13		%	1 bps		24 bps
Foreign exchange rates vs. U.S. dollar:
British pound (a)	$	1.34		$	1.44		$	1.48		$	1.52		$	1.57		(7)%		(15)%
British pound - average rate	1.43			1.43			1.52			1.55			1.53			—		(7	)
Euro (a)	1.11			1.14			1.09			1.12			1.11			(3	)	—
Euro - average rate	1.13			1.10			1.10			1.11			1.11			3		2

(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.

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BNY Mellon 2Q16 Earnings Release

FEE AND OTHER REVENUE

Fee and other revenue											2Q16 vs.
(dollars in millions)	2Q16		1Q16		4Q15		3Q15		2Q15		1Q16		2Q15
Investment services fees:
Asset servicing (a)	$	1,069	$	1,040	$	1,032	$	1,057	$	1,060	3	%	1	%
Clearing services	350		350		339		345		347		—		1
Issuer services	234		244		199		313		234		(4	)	—
Treasury services	139		131		137		137		144		6		(3	)
Total investment services fees	1,792		1,765		1,707		1,852		1,785		2		—
Investment management and performance fees	830		812		864		829		878		2		(5	)
Foreign exchange and other trading revenue	182		175		173		179		187		4		(3	)
Financing-related fees	57		54		51		71		58		6		(2	)
Distribution and servicing	43		39		41		41		39		10		10
Investment and other income	74		105		93		59		104		(30	)	(29	)
Total fee revenue	2,978		2,950		2,929		3,031		3,051		1		(2	)
Net securities gains	21		20		21		22		16		N/M		N/M
Total fee and other revenue	$	2,999	$	2,970	$	2,950	$	3,053	$	3,067	1	%	(2	)%

(a) Asset servicing fees include securities lending revenue of $52 million in 2Q16, $50 million in 1Q16, $46 million in 4Q15,$38 million in 3Q15 and $49 million in 2Q15.

N/M – Not meaningful.

KEY POINTS

• Asset servicing fees were $1.1 billion, an increase of 1% year-over-year and 3% sequentially. The year-over-year increase primarily reflects net new business and higher money market fees, partially offset by lower market values and the unfavorable impact of a stronger U.S. dollar. The sequential increase primarily reflects higher market values and net new business.

• Clearing services fees were $350 million, an increase of 1% year-over-year and unchanged sequentially. The year-over-year increase was primarily driven by higher money market fees, partially offset by the impact of lost business. Sequentially, higher average balances and the increase in the number of trading days were offset by lower volumes.

• Issuer services fees were $234 million, unchanged year-over-year and a decrease of 4% sequentially. Both comparisons reflect lower Depositary Receipts revenue. Year-over-year, issuer services fees also reflect higher money market fees in Corporate Trust.

• Treasury services fees were $139 million, a decrease of 3% year-over-year and an increase of 6% sequentially. The year-over-year decrease primarily reflects higher compensating balance credits provided to clients, which shifts revenue from fees to net interest revenue. The sequential increase primarily reflects higher payment volumes due to an increase in number of trading days.

• Investment management and performance fees were $830 million, a decrease of 5% year-over-year and an increase of 2% sequentially. The year-over-year decrease primarily reflects outflows in 2015, the unfavorable impact of a stronger U.S. dollar and lower performance fees, partially offset by higher money market fees and the impact of the Atherton acquisition. On a constant currency basis (Non-GAAP), investment management and performance fees decreased 4% year-over-year. The sequential increase primarily reflects higher equity market values and the impact of the Atherton acquisition, partially offset by net outflows.

Page - 8

BNY Mellon 2Q16 Earnings Release

•	Foreign exchange and other trading revenue
	(in millions)	2Q16		1Q16		4Q15		3Q15			2Q15
	Foreign exchange	$	166	$	171	$	165	$	180		$	181
	Other trading revenue (loss)	16		4		8		(1		)	6
	Total foreign exchange and other trading revenue	$	182	$	175	$	173	$	179		$	187

Foreign exchange and other trading revenue totaled $182 million in 2Q16 compared with $187 million in 2Q15 and $175 million in 1Q16. In 2Q16, foreign exchange revenue totaled $166 million, a decrease of 8% year-over-year and 3% sequentially. The year-over-year decrease primarily reflects lower volumes, partially offset by the positive net impact of foreign currency hedging activities.The sequential decrease primarily reflects the continued trend of clients migrating to lower margin products.

Other trading revenue was $16 million in 2Q16, compared with $6 million in 2Q15 and $4 million in 1Q16. The year-over-year increase primarily reflects higher fixed income trading. Year-over-year, losses on hedging activities in the Investment Management businesses were offset by the positive impact of interest rate hedging. The sequential increase primarily reflects hedging activities in the Investment Management businesses.

• Financing-related fees were $57 million in 2Q16 compared with $58 million in 2Q15 and $54 million in 1Q16.

• Distribution and servicing fees were $43 million in 2Q16 compared with $39 million in both 2Q15 and 1Q16. Distribution and servicing fees were favorably impacted by higher money market fees. The year-over-year increase was partially offset by fees paid to introducing brokers.

•	Investment and other income
	(in millions)	2Q16			1Q16			4Q15			3Q15			2Q15
	Corporate/bank-owned life insurance	$	31		$	31		$	43		$	32		$	31
	Expense reimbursements from joint venture	17			17			16			16			17
	Seed capital gains (a)	11			11			10			7			2
	Asset-related gains (losses)	1			—			5			(9		)	1
	Lease-related gains (losses)	—			44			(8		)	—			54
	Private equity gains	—			2			—			1			3
	Equity investment (losses)	(4		)	(3		)	(2		)	(6		)	(7		)
	Other income	18			3			29			18			3
	Total investment and other income	$	74		$	105		$	93		$	59		$	104

(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 $6 million in 2Q16, $1 million in 1Q16, $11 million in 4Q15, $(17) million in 3Q15 and $3 million in 2Q15.

Investment and other income was $74 million in 2Q16 compared with $104 million in 2Q15 and $105 million in 1Q16. Both decreases primarily reflect lower lease-related gains, partially offset by foreign currency remeasurement gains.

Page - 9

BNY Mellon 2Q16 Earnings Release

NET INTEREST REVENUE

Net interest revenue																2Q16 vs.
(dollars in millions)	2Q16			1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
Net interest revenue (non-FTE)	$	767		$	766		$	760		$	759		$	779		—		(2)%
Net interest revenue (FTE)	780			780			774			773			794			—		(2	)
Net interest margin (FTE)	0.98		%	1.01		%	0.99		%	0.98		%	1.00		%	(3	) bps	(2	) bps
Selected average balances:
Cash/interbank investments	$	137,995		$	127,624		$	128,328		$	130,090		$	125,626		8	%	10%
Trading account securities	2,152			3,320			2,786			2,737			3,253			(35	)	(34	)
Securities	118,002			118,538			119,532			121,188			128,641			—		(8	)
Loans	60,284			61,196			61,964			61,657			61,076			(1	)	(1	)
Interest-earning assets	318,433			310,678			312,610			315,672			318,596			2		—
Interest-bearing deposits	165,122			162,017			160,334			169,753			170,716			2		(3	)
Noninterest-bearing deposits	84,033			82,944			85,878			85,046			84,890			1		(1	)
Selected average yields/rates:
Cash/interbank investments	0.44		%	0.43		%	0.32		%	0.32		%	0.34		%
Trading account securities	2.45			2.16			2.79			2.74			2.63
Securities	1.56			1.61			1.62			1.60			1.57
Loans	1.85			1.76			1.54			1.56			1.51
Interest-earning assets	1.14			1.16			1.08			1.08			1.08
Interest-bearing deposits	0.03			0.04			0.01			0.02			0.02
Average cash/interbank investments as a percentage of average interest-earning assets	43		%	41		%	41		%	41		%	39		%
Average noninterest-bearing deposits as a percentage of average interest-earning assets	26		%	27		%	27		%	27		%	27		%

FTE – fully taxable equivalent.

bps – basis points.

KEY POINTS

• Net interest revenue totaled $767 million in 2Q16, a decrease of $12 million year-over-year and an increase of $1 million sequentially. The year-over-year decrease primarily reflects the negative impact of interest rate hedging activities and higher premium amortization adjustments related to the decrease in interest rates. The sequential increase primarily reflects lower losses on interest rate hedging activities, partially offset by higher premium amortization.

• Following the receipt of feedback from the Federal Reserve and the Federal Deposit Insurance Corporation in April 2016 on our 2015 resolution plan, we are changing our preferred resolution strategy from a bridge bank to a single point of entry in the event of our material financial distress or failure. While we are still evaluating the impact of our single point of entry strategy, it is likely that related expenses will increase and our net interest revenue may be negatively impacted if we conclude that the revised strategy requires us to issue additional long-term debt to fund holdings of high-quality liquid assets (“HQLA”) for potential contribution to material subsidiaries in times of distress.

Page - 10

BNY Mellon 2Q16 Earnings Release

NONINTEREST EXPENSE

Noninterest expense																2Q16 vs.
(dollars in millions)	2Q16			1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
Staff	$	1,412		$	1,459		$	1,481		$	1,437		$	1,434		(3	)%	(2	)%
Professional, legal and other purchased services	290			278			328			301			299			4		(3	)
Software and equipment	223			219			225			226			228			2		(2	)
Net occupancy	152			142			148			152			149			7		2
Distribution and servicing	102			100			92			95			96			2		6
Sub-custodian	70			59			60			65			75			19		(7	)
Business development	65			57			75			59			72			14		(10	)
Other	240			241			201			268			250			—		(4	)
Amortization of intangible assets	59			57			64			66			65			4		(9	)
M&I, litigation and restructuring charges	7			17			18			11			59			N/M		N/M
Total noninterest expense – GAAP	$	2,620		$	2,629		$	2,692		$	2,680		$	2,727		—	%	(4	)%
Total staff expense as a percentage of total revenue	37		%	39		%	40		%	38		%	37		%
Memo:
Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges – Non-GAAP	$	2,554		$	2,555		$	2,610		$	2,603		$	2,603		—	%	(2	)%

N/M – Not meaningful.

KEY POINTS

• Total noninterest expense decreased 4% year-over-year and decreased slightly sequentially. Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges (Non-GAAP) decreased 2% year-over-year and was flat 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 litigation, staff and legal expenses and the benefit of the business improvement process, partially offset by higher net occupancy and distribution and servicing expenses. Staff expense decreased year-over-year primarily reflecting lower incentive expense. The increase in net occupancy expense reflects the cost to exit leases consistent with our global real estate strategy. The savings generated by the business improvement process primarily reflect the benefits of our technology insourcing strategy and the benefit of renegotiating vendor contracts.

• The sequential decrease primarily reflects lower staff expense, offset by higher sub-custodian, net occupancy, legal and business development expenses. The decrease in staff expense primarily reflects lower incentive expense. The increase in sub-custodian expenses primarily reflects higher client activity. The increase in business development expense was driven by the timing of client-related conferences.

Page - 11

BNY Mellon 2Q16 Earnings Release

INVESTMENT SECURITIES PORTFOLIO

At June 30, 2016, the fair value of our investment securities portfolio totaled $117.3 billion. The net unrealized pre-tax gain on our total securities portfolio was $1.6 billion at June 30, 2016 compared with $1.2 billion at March 31, 2016. The increase in the net unrealized pre-tax gain was primarily driven by a decline in market interest rates. At June 30, 2016, the fair value of the held-to-maturity securities totaled $41.8 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)	March 31, 2016			2Q16 change in unrealized gain (loss)			June 30, 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	$	49,870		$	157		$	48,947	$	49,506		101	%	$	559			100	%	—	%	—	%	—	%	—	%
U.S. Treasury	23,870			110			23,716		23,893			101		177				100		—		—		—		—
Sovereign debt/sovereign guaranteed	15,866			56			15,309		15,605			102		296				73		5		22		—		—
Non-agency RMBS (b)	1,685			(19		)	1,237		1,529			80		292				—		1		1		90		8
Non-agency RMBS	862			4			789		797			93		8				8		3		17		71		1
European floating rate notes	1,244			(2		)	1,137		1,104			97		(33		)		65		30		5		—		—
Commercial MBS	6,003			46			6,250		6,316			101		66				98		2		—		—		—
State and political subdivisions	3,740			19			3,657		3,765			103		108				80		17		—		—		3
Foreign covered bonds	2,279			7			2,334		2,376			102		42				100		—		—		—		—
Corporate bonds	1,737			9			1,554		1,610			104		56				15		69		16		—		—
CLO	2,424			5			2,494		2,482			100		(12		)		100		—		—		—		—
U.S. Government agencies	1,881			(6		)	1,904		1,889			99		(15		)		100		—		—		—		—
Consumer ABS	2,408			6			2,460		2,454			100		(6		)		100		—		—		—		—
Other (c)	3,893			—			3,949		4,002			101		53				54		—		43		—		3
Total investment securities	$	117,762	(d)	$	392		$	115,737	$	117,328	(d)	101	%	$	1,591		(d)(e)	91	%	2	%	5	%	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 $1.7 billion and $1.7 billion and money market funds with a fair value of $862 million and $865 million at March 31, 2016 and June 30, 2016, respectively.

(d) Includes net unrealized losses on derivatives hedging securities available-for-sale of $763 million at March 31, 2016 and $1,023 million at June 30, 2016.

(e) Unrealized gains of $840 million at June 30, 2016 related to available-for-sale securities.

Page - 12

BNY Mellon 2Q16 Earnings Release

NONPERFORMING ASSETS

Nonperforming assets (dollars in millions)	June 30, 2016			March 31, 2016			June 30, 2015
Loans:
Financial institutions	$	171		$	171		$	—
Other residential mortgages	97			99			110
Wealth management loans and mortgages	10			11			11
Lease financing	4			5			—
Commercial real estate	2			2			1
Total nonperforming loans	284			288			122
Other assets owned	5			4			5
Total nonperforming assets	$	289		$	292		$	127
Nonperforming assets ratio	0.45		%	0.48		%	0.20		%
Allowance for loan losses/nonperforming loans	55.6			56.3			150.0
Total allowance for credit losses/nonperforming loans	98.6			99.7			227.9

Nonperforming assets were $289 million at June 30, 2016, a decrease of $3 million compared with March 31, 2016. Nonperforming loans include our claim in the bankruptcy proceedings of Sentinel.  On July 13, 2016, a settlement agreement between BNY Mellon and Sentinel’s Liquidation Trustee was accepted by the bankruptcy court.  This is expected to become effective in 3Q16 and result in release of trust assets to BNY Mellon in an amount that should exceed BNY Mellon’s carrying value of $171 million.

ALLOWANCE FOR CREDIT LOSSES, PROVISION AND NET CHARGE-OFFS

Allowance for credit losses, provision and net charge-offs (in millions)	June 30, 2016			March 31, 2016		June 30, 2015
Allowance for credit losses - beginning of period	$	287		$	275	$	283
Provision for credit losses	(9		)	10		(6		)
Net recoveries:
Other residential mortgages	1			2		—
Foreign	1			—		—
Financial institutions	—			—		1
Net recoveries	2			2		1
Allowance for credit losses - end of period	$	280		$	287	$	278
Allowance for loan losses	$	158		$	162	$	183
Allowance for lending-related commitments	122			125		95

The allowance for credit losses was $280 million at June 30, 2016, a decrease of $7 million compared with $287 million at March 31, 2016. Net recoveries were $2 million in 2Q16 reflected in the other residential mortgage and foreign portfolios.

Page - 13

BNY Mellon 2Q16 Earnings Release

CAPITAL AND LIQUIDITY

Capital ratios	June 30, 2016		March 31, 2016		Dec. 31, 2015
Consolidated regulatory capital ratios: (a)
Standardized:
CET1 ratio	11.8	%	11.8	%	11.5	%
Tier 1 capital ratio	13.3		13.5		13.1
Total (Tier 1 plus Tier 2) capital ratio	13.7		13.9		13.5
Advanced:
CET1 ratio	10.2		10.6		10.8
Tier 1 capital ratio	11.5		12.0		12.3
Total (Tier 1 plus Tier 2) capital ratio	11.7		12.3		12.5
Leverage capital ratio (b)	5.8		5.9		6.0
Supplementary leverage ratio (“SLR”)	5.3		5.4		5.4
BNY Mellon shareholders’ equity to total assets ratio – GAAP (c)	10.4		10.3		9.7
BNY Mellon common shareholders’ equity to total assets ratio – GAAP (c)	9.7		9.6		9.0
BNY Mellon tangible common shareholders’ equity to tangible assets of operations ratio – Non-GAAP (c)	6.6		6.7		6.5
Selected regulatory capital ratios – fully phased-in – Non-GAAP: (a)(d)
CET1 ratio:
Standardized Approach	10.9		11.0		10.2
Advanced Approach	9.5		9.8		9.5
SLR	5.0		5.1		4.9

(a) Regulatory capital ratios for June 30, 2016 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under application capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches.

(b) The leverage capital ratios are based on Tier 1 capital, as phased-in and quarterly average total assets.

(c) See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 24 for a reconciliation of these ratios.

(d) Estimated.

CET1 generation in 2Q16 – preliminary	Transitional basis (b)			Fully phased-in - Non-GAAP (c)
(in millions)
CET1 – Beginning of period	$	18,069		$	16,607
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	825			825
Goodwill and intangible assets, net of related deferred tax liabilities	146			159
Gross CET1 generated	971			984
Capital deployed:
Dividends	(185		)	(185		)
Common stock repurchased	(509		)	(509		)
Total capital deployed	(694		)	(694		)
Other comprehensive income	(209		)	(162		)
Additional paid-in capital (a)	131			131
Other	10			12
Total other deductions	(68		)	(19		)
Net CET1 generated	209			271
CET1 – End of period	$	18,278		$	16,878

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

(b)    Reflects transitional adjustments to CET1 required under U.S. capital rules.

(c)    Estimated.

Page - 14

BNY Mellon 2Q16 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	June 30, 2016(a)						March 31, 2016						Dec. 31, 2015
(dollars in millions)	Transitional basis(b)			Fully phased-in - Non-GAAP(c)			Transitional basis (b)			Fully phased-in - Non-GAAP (c)			Transitional basis (b)			Fully phased-in - Non-GAAP (c)
CET1:
Common shareholders’ equity	$	36,282		$	36,007		$	36,229		$	35,907		$	36,067		$	35,485
Goodwill and intangible assets	(17,614		)	(18,658		)	(17,760		)	(18,817		)	(17,295		)	(18,911		)
Net pension fund assets	(53		)	(88		)	(54		)	(89		)	(46		)	(116		)
Equity method investments	(322		)	(356		)	(324		)	(359		)	(296		)	(347		)
Deferred tax assets	(14		)	(23		)	(14		)	(23		)	(8		)	(20		)
Other	(1		)	(4		)	(8		)	(12		)	(5		)	(9		)
Total CET1	18,278			16,878			18,069			16,607			18,417			16,082
Other Tier 1 capital:
Preferred stock	2,552			2,552			2,552			2,552			2,552			2,552
Trust preferred securities	—			—			—			—			74			—
Deferred tax assets	(9		)	—			(9		)	—			(12		)	—
Net pension fund assets	(35		)	—			(36		)	—			(70		)	—
Other	(113		)	(109		)	(11		)	(8		)	(25		)	(22		)
Total Tier 1 capital	20,673			19,321			20,565			19,151			20,936			18,612
Tier 2 capital:
Trust preferred securities	161			—			173			—			222			—
Subordinated debt	149			149			149			149			149			149
Allowance for credit losses	280			280			287			287			275			275
Other	(6		)	(7		)	(2		)	(1		)	(12		)	(12		)
Total Tier 2 capital - Standardized Approach	584			422			607			435			634			412
Excess of expected credit losses	53			53			46			46			37			37
Less: Allowance for credit losses	280			280			287			287			275			275
Total Tier 2 capital - Advanced Approach	$	357		$	195		$	366		$	194		$	396		$	174
Total capital:
Standardized Approach	$	21,257		$	19,743		$	21,172		$	19,586		$	21,570		$	19,024
Advanced Approach	$	21,030		$	19,516		$	20,931		$	19,345		$	21,332		$	18,786
Risk-weighted assets:
Standardized Approach	$	155,448		$	154,182		$	152,673		$	151,388		$	159,893		$	158,015
Advanced Approach	$	179,457		$	178,114		$	170,709		$	169,347		$	170,384		$	168,509
Standardized Approach:
CET1 ratio	11.8		%	10.9		%	11.8		%	11.0		%	11.5		%	10.2		%
Tier 1 capital ratio	13.3			12.5			13.5			12.7			13.1			11.8
Total (Tier 1 plus Tier 2) capital ratio	13.7			12.8			13.9			12.9			13.5			12.0
Advanced Approach:
CET1 ratio	10.2		%	9.5		%	10.6		%	9.8		%	10.8		%	9.5		%
Tier 1 capital ratio	11.5			10.8			12.0			11.3			12.3			11.0
Total (Tier 1 plus Tier 2) capital ratio	11.7			11.0			12.3			11.4			12.5			11.1

(a)    Preliminary.

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

(c)    Estimated.

BNY Mellon has presented its estimated fully phased-in CET1 and other risk-based capital ratios and the fully phased-in 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 CET1 and other risk-based capital ratios and fully phased-in SLR

Page - 15

BNY Mellon 2Q16 Earnings Release

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 CET1 and other risk-based capital ratios and fully phased-in SLR are intended to allow investors to compare these ratios with estimates presented by other companies.

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 SLR on both the transitional and fully phased-in Basel III basis for BNY Mellon and our largest bank subsidiary, The Bank of New York Mellon.

SLR	June 30, 2016 (a)						March 31, 2016						Dec. 31, 2015
(dollars in millions)	Transitional basis			Fully phased-in - Non-GAAP(b)			Transitional basis			Fully phased-in - Non-GAAP (b)			Transitional basis			Fully phased-in - Non-GAAP (b)
Consolidated:
Tier 1 capital	$	20,673		$	19,321		$	20,565		$	19,151		$	20,936		$	18,612
Total leverage exposure:
Quarterly average total assets	$	374,220		$	374,220		$	364,554		$	364,554		$	368,590		$	368,590
Less: Amounts deducted from Tier 1 capital	18,156			19,233			18,160			19,300			17,650			19,403
Total on-balance sheet assets	356,064			354,987			346,394			345,254			350,940			349,187
Off-balance sheet exposures:
Potential future exposure for derivatives contracts (plus certain other items)	6,125			6,125			5,838			5,838			7,158			7,158
Repo-style transaction exposures	402			402			403			403			440			440
Credit-equivalent amount of other off-balance sheet exposures (less SLR exclusions)	24,122			24,122			24,950			24,950			26,025			26,025
Total off-balance sheet exposures	30,649			30,649			31,191			31,191			33,623			33,623
Total leverage exposure	$	386,713		$	385,636		$	377,585		$	376,445		$	384,563		$	382,810
SLR - Consolidated (c)	5.3		%	5.0		%	5.4		%	5.1		%	5.4		%	4.9		%
The Bank of New York Mellon, our largest bank subsidiary:
Tier 1 capital	$	18,042		$	16,942		$	17,322		$	16,167		$	16,814		$	15,142
Total leverage exposure	$	322,879		$	322,559		$	313,331		$	312,988		$	316,812		$	316,270
SLR - The Bank of New York Mellon (c)	5.6		%	5.3		%	5.5		%	5.2		%	5.3		%	4.8		%

(a) June 30, 2016 information is preliminary.

(b) Estimated.

(c) 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 as a required minimum ratio, 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. The insured depository institution subsidiaries of the U.S. G-SIBs, including those of BNY Mellon, must maintain a 6% SLR to be considered “well capitalized.”

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 June 30, 2016 based on our understanding of the U.S.

Page - 16

BNY Mellon 2Q16 Earnings Release

LCR rules. Our consolidated HQLA before haircuts, totaled $191 billion at June 30, 2016, compared with $202 billion at March 31, 2016 and $218 billion at Dec. 31, 2015.

Page - 17

BNY Mellon 2Q16 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)																	2Q16 vs.
	2Q16				1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
Revenue:
Investment management fees:
Mutual funds	$	304			$	300		$	294		$	301		$	312		1	%	(3	)%
Institutional clients	344				334			350			347			363			3		(5	)
Wealth management	160				152			155			156			160			5		—
Investment management fees (a)	808				786			799			804			835			3		(3	)
Performance fees	9				11			55			7			20			N/M		(55	)
Investment management and performance fees	817				797			854			811			855			3		(4	)
Distribution and servicing	49				46			39			37			38			7		29
Other (a)	(10		)		(31		)	22			(5		)	17			N/M		N/M
Total fee and other revenue (a)	856				812			915			843			910			5		(6	)
Net interest revenue	82				83			84			83			77			(1	)	6
Total revenue	938				895			999			926			987			5		(5	)
Provision for credit losses	1				(1		)	(4		)	1			3			N/M		N/M
Noninterest expense (ex. amortization of intangible assets)	684				660			689			665			700			4		(2	)
Income before taxes (ex. amortization of intangible assets)	253				236			314			260			284			7		(11	)
Amortization of intangible assets	19				19			24			24			25			—		(24	)
Income before taxes	$	234			$	217		$	290		$	236		$	259		8	%	(10	)%
Pre-tax operating margin	25		%		24		%	29		%	25		%	26		%
Adjusted pre-tax operating margin - Non-GAAP (b)	31		%		30		%	36		%	34		%	34		%
Changes in AUM (in billions): (c)
Beginning balance of AUM	$	1,639			$	1,625		$	1,625		$	1,700		$	1,717
Net inflows (outflows):
Long-term:
Equity	(2		)		(3		)	(9		)	(4		)	(13		)
Fixed income	(2		)		—			1			(3		)	(2		)
Liability-driven investments (d)	15				14			11			11			5
Alternative investments	1				1			2			1			3
Total long-term active inflows (outflows)	12				12			5			5			(7		)
Index	(17		)		(11		)	(16		)	(10		)	(9		)
Total long-term (outflows) inflows	(5		)		1			(11		)	(5		)	(16		)
Short term:
Cash	4				(9		)	2			(10		)	(11		)
Total net (outflows)	(1		)		(8		)	(9		)	(15		)	(27		)
Net market impact/other	71				41			24			(35		)	(29		)
Net currency impact	(47		)		(19		)	(15		)	(25		)	39
Acquisition	2				—			—			—			—
Ending balance of AUM	$	1,664		(e)	$	1,639		$	1,625		$	1,625		$	1,700		2	%	(2	)%
AUM at period end, by product type: (c)
Equity	14		%		14		%	14		%	14		%	15		%
Fixed income	13				13			13			13			13
Index	18				19			20			20			21
Liability-driven investments (d)	34				33			32			32			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	$	14,795			$	14,275		$	13,447		$	12,779		$	12,298		4	%	20	%
Average deposits	$	15,518			$	15,971		$	15,497		$	15,282		$	14,638		(3	)%	6	%

(a) Total fee and other revenue includes the impact of the consolidated investment management funds, net of noncontrolling interests. See page 28 for a breakdown of the revenue line items in the Investment Management business impacted by the consolidated investment management funds. 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 24 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.

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BNY Mellon 2Q16 Earnings Release

N/M – Not meaningful.

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BNY Mellon 2Q16 Earnings Release

INVESTMENT MANAGEMENT KEY POINTS

• Assets under management were $1.66 trillion at June 30, 2016, a decrease of 2% year-over-year and an increase of 2% 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), offset by higher market values.

• Net long-term outflows of $5 billion in 2Q16 were driven by index investments, offset by the continued strength in liability-driven investments.

• Net short-term inflows were $4 billion in 2Q16.

• Income before taxes, excluding amortization of intangible assets, totaled $253 million in 2Q16, a decrease of 11% year-over-year and an increase of 7% sequentially.

• Total revenue was $938 million, a decrease of 5% year-over-year and an increase of 5% sequentially.

• 40% non-U.S. revenue in 2Q16 vs. 42% in 2Q15.

• Investment management fees were $808 million, a decrease of 3% year-over-year and an increase of 3% sequentially. The year-over-year decrease primarily reflects outflows in 2015 and the unfavorable impact of a stronger U.S. dollar, partially offset by higher money market fees and the impact of the Atherton acquisition. On a constant currency basis (Non-GAAP), investment management fees decreased 2% year-over-year. The sequential increase primarily reflects higher equity market values and the impact of the Atherton acquisition, partially offset by net outflows.

• Performance fees were $9 million in 2Q16 compared with $20 million in 2Q15 and $11 million in 1Q16.

• Distribution and servicing fees were $49 million in 2Q16 compared with $38 million in 2Q15 and $46 million in 1Q16. The year-over-year increase primarily reflects higher money market fees.

• Other losses were $10 million in 2Q16 compared with other revenue of $17 million in 2Q15 and other losses of $31 million in 1Q16. The year-over-year decrease primarily reflects losses on hedging activities and increased payments to Investment Services related to higher money market fees, partially offset by higher seed capital gains. The sequential increase primarily reflects gains on hedging activities and higher seed capital gains.

• Net interest revenue increased 6% year-over-year and decreased 1% sequentially. The year-over-year increase primarily reflects record average loans and increased deposits, partially offset by the impact of changes in the internal crediting rates for deposits beginning in the first quarter of 2016. The sequential decrease primarily reflects lower average deposits, partially offset by higher average loans.

• Average loans increased 20% year-over-year and 4% sequentially; average deposits increased 6% year-over-year and decreased 3% sequentially.

• Total noninterest expense (excluding amortization of intangible assets) decreased 2% year-over-year and increased 4% sequentially. The year-over-year decrease primarily reflects lower incentive expense and the favorable impact of a stronger U.S. dollar, partially offset by higher distribution and servicing expense driven by lower money market fee waivers. Both comparisons reflect the impact of the Atherton acquisition and higher professional, legal and other purchased services. The sequential increase also reflects higher staff expense.

Page - 20

BNY Mellon 2Q16 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.

(dollars in millions, unless otherwise noted)																	2Q16 vs.
	2Q16				1Q16			4Q15			3Q15			2Q15			1Q16		2Q15
Revenue:
Investment services fees:
Asset servicing	$	1,043			$	1,016		$	1,009		$	1,034		$	1,038		3	%	—	%
Clearing services	350				348			337			345			346			1		1
Issuer services	233				244			199			312			234			(5	)	—
Treasury services	137				129			135			135			141			6		(3	)
Total investment services fees	1,763				1,737			1,680			1,826			1,759			1		—
Foreign exchange and other trading revenue	161				168			150			179			181			(4	)	(11	)
Other (a)	130				125			127			129			117			4		11
Total fee and other revenue	2,054				2,030			1,957			2,134			2,057			1		—
Net interest revenue	690				679			664			662			667			2		3
Total revenue	2,744				2,709			2,621			2,796			2,724			1		1
Provision for credit losses	(7		)		14			8			7			6			N/M		N/M
Noninterest expense (ex. amortization of intangible assets)	1,819				1,770			1,791			1,853			1,874			3		(3	)
Income before taxes (ex. amortization of intangible assets)	932				925			822			936			844			1		10
Amortization of intangible assets	40				38			40			41			40			5		—
Income before taxes	$	892			$	887		$	782		$	895		$	804		1	%	11	%
Pre-tax operating margin	33		%		33		%	30		%	32		%	30		%
Pre-tax operating margin (ex. provision for credit losses and amortization of intangible assets)	34		%		35		%	32		%	34		%	31		%
Investment services fees as a percentage of noninterest expense (ex. amortization of intangible assets) (b)	97		%		98		%	94		%	99		%	94		%
Securities lending revenue	$	42			$	42		$	39		$	33		$	43		—	%	(2	)%
Metrics:
Average loans	$	43,786			$	45,004		$	45,844		$	46,222		$	45,822		(3	)%	(4	)%
Average deposits	$	221,998			$	215,707		$	229,241		$	232,250		$	238,404		3	%	(7	)%
AUC/A at period end (in trillions) (c)	$	29.5		(d)	$	29.1		$	28.9		$	28.5		$	28.6		1	%	3	%
Market value of securities on loan at period end (in billions) (e)	$	278			$	300		$	277		$	288		$	283		(7	)%	(2	)%
Asset servicing:
Estimated new business wins (AUC/A) (in billions)	$	167		(d)	$	40		$	49		$	84		$	933
Depositary Receipts:
Number of sponsored programs	1,112				1,131			1,145			1,176			1,206			(2	)%	(8	)%
Clearing services:
Average active clearing accounts (U.S. platform) (in thousands)	5,946				5,947			5,959			6,107			6,046			—	%	(2	)%
Average long-term mutual fund assets (U.S. platform)	$	431,150			$	415,025		$	437,260		$	447,287		$	466,195		4	%	(8	)%
Average investor margin loans (U.S. platform)	$	10,633			$	11,063		$	11,575		$	11,806		$	11,890		(4	)%	(11	)%
Broker-Dealer:
Average tri-party repo balances (in billions)	$	2,108			$	2,104		$	2,153		$	2,142		$	2,174		—	%	(3	)%

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

(b) Investment services fees as a percentage of noninterest expense (ex. amortization of intangible assets) was lower in 2Q15 primarily reflecting litigation expense.

(c) Includes the AUC/A of CIBC Mellon of $1.1 trillion at June 30, 2016 and March 31, 2016, $1.0 trillion at Dec. 31, 2015 and Sept. 30, 2015 and $1.1 trillion at June 30, 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 June 30, 2016 and March 31, 2016, $55 billion at Dec. 31, 2015, $61 billion at Sept. 30, 2015 and $68 billion at June 30, 2015.

N/M - Not meaningful.

Page - 21

BNY Mellon 2Q16 Earnings Release

INVESTMENT SERVICES KEY POINTS

• Income before taxes, excluding amortization of intangible assets, totaled $932 million in 2Q16.

• The pre-tax operating margin, excluding the provision for credit losses and amortization of intangible assets, was 34% in 2Q16 and the investment services fees as a percentage of noninterest expense (ex. amortization of intangible assets) was 97% in 2Q16, reflecting the continued focus on the business improvement process to drive operating leverage.

• Investment services fees were $1.8 billion, flat year-over-year and an increase of 1% sequentially.

• Asset servicing fees (global custody, broker-dealer services and global collateral services) were $1.043 billion in 2Q16 compared with $1.038 billion in 2Q15 and $1.016 billion in 1Q16. The year-over-year increase primarily reflects net new business and higher money market fees, partially offset by lower market values and the unfavorable impact of a stronger U.S. dollar. The sequential increase primarily reflects higher market values and net new business.

--    Estimated new business wins (AUC/A) in Asset Servicing of $167 billion in 2Q16.

• Clearing services fees were $350 million in 2Q16 compared with $346 million in 2Q15 and $348 million in 1Q16. The year-over-year increase was primarily driven by higher money market fees, partially offset by the impact of lost business. Sequentially, higher average balances and the increase in the number of trading days were offset by lower volumes.

• Issuer services fees (Corporate Trust and Depositary Receipts) were $233 million in 2Q16 compared with $234 million in 2Q15 and $244 million in 1Q16. Both comparisons reflect lower Depositary Receipts revenue. Year-over-year, issuer services fees also reflect higher money market fees in Corporate Trust.

• Treasury services fees were $137 million in 2Q16 compared with $141 million in 2Q15 and $129 million in 1Q16. The year-over-year decrease primarily reflects higher compensating balance credits provided to clients, which shifts revenue from fees to net interest revenue. The sequential increase primarily reflects higher payment volumes due to an increase in number of trading days.

• Foreign exchange and other trading revenue was $161 million in 2Q16 compared with $181 million in 2Q15 and $168 million in 1Q16. The year-over-year decrease primarily reflects lower volumes. The sequential decrease primarily reflects the continued trend of clients migrating to lower margin products.

• Other revenue was $130 million in 2Q16 compared with $117 million in 2Q15 and $125 million in 1Q16. The year-over-year increase primarily reflects increased payments from Investment Management related to higher money market fees, partially offset by certain fees paid to introducing brokers. The sequential increase primarily reflects higher financing-related fees.

• Net interest revenue was $690 million in 2Q16 compared with $667 million in 2Q15 and $679 million in 1Q16. The year-over-year increase primarily reflects the impact of changes in the internal crediting rates for deposits, partially offset by lower average deposits. The sequential increase primarily reflects higher average deposits.

• Noninterest expense (excluding amortization of intangible assets) was $1.82 billion in 2Q16 compared with $1.87 billion in 2Q15 and $1.77 billion in 1Q16. The year-over-year decrease primarily reflects lower litigation expense, partially offset by higher staff expense.The sequential increase primarily reflects higher staff expense, partially offset by lower litigation expense.

Page - 22

BNY Mellon 2Q16 Earnings Release

OTHER SEGMENT primarily includes leasing operations, corporate treasury activities, derivatives, global markets, business exits and other corporate revenue and expense items.

(dollars in millions)	2Q16			1Q16			4Q15			3Q15			2Q15
Revenue:
Fee and other revenue	$	95		$	129		$	89		$	59		$	103
Net interest (expense) revenue	(5		)	4			12			14			35
Total revenue	90			133			101			73			138
Provision for credit losses	(3		)	(3		)	159			(7		)	(15		)
Noninterest expense (ex. amortization of intangible assets and restructuring charges (recoveries))	53			141			150			97			79
Income (loss) before taxes (ex. amortization of intangible assets and restructuring charges (recoveries))	40			(5		)	(208		)	(17		)	74
Amortization of intangible assets	—			—			—			1			—
M&I and restructuring charges (recoveries)	3			(1		)	(4		)	(2		)	8
Income (loss) before taxes	$	37		$	(4	)	$	(204	)	$	(16	)	$	66
Average loans and leases	$	1,703		$	1,917		$	2,673		$	2,656		$	2,956

KEY POINTS

• Total fee and other revenue decreased$8 million compared with 2Q15 and $34 million compared with 1Q16. Both decreases primarily reflect lower lease-related gains. The year-over-year decrease was partially offset by the positive impact of foreign currency hedging activities and higher fixed income trading.

• Net interest revenue decreased$40 million compared with 2Q15 and $9 million compared with 1Q16. Both decreases reflect lower average loans and leases. The year-over-year decrease also reflects the negative impact of interest rate hedging and higher premium amortization adjustments related to the decrease in interest rates.

• Noninterest expense, excluding amortization of intangible assets and restructuring charges (recoveries), decreased$26 million compared with 2Q15 and $88 million compared with 1Q16. Both comparisons were impacted by lower staff expense and professional, legal, and other purchased services.

Page - 23

BNY Mellon 2Q16 Earnings Release

THE BANK OF NEW YORK MELLON CORPORATION

Condensed Consolidated Income Statement

(in millions)	Quarter ended									Year-to-date
	June 30, 2016			March 31, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Fee and other revenue
Investment services fees:
Asset servicing	$	1,069		$	1,040		$	1,060		$	2,109		$	2,098
Clearing services	350			350			347			700			691
Issuer services	234			244			234			478			466
Treasury services	139			131			144			270			281
Total investment services fees	1,792			1,765			1,785			3,557			3,536
Investment management and performance fees	830			812			878			1,642			1,745
Foreign exchange and other trading revenue	182			175			187			357			416
Financing-related fees	57			54			58			111			98
Distribution and servicing	43			39			39			82			80
Investment and other income	74			105			104			179			164
Total fee revenue	2,978			2,950			3,051			5,928			6,039
Net securities gains	21			20			16			41			40
Total fee and other revenue	2,999			2,970			3,067			5,969			6,079
Operations of consolidated investment management funds
Investment income (loss)	10			(3		)	46			7			102
Interest of investment management fund note holders	—			3			6			3			10
Income (loss) from consolidated investment management funds	10			(6		)	40			4			92
Net interest revenue
Interest revenue	890			883			847			1,773			1,654
Interest expense	123			117			68			240			147
Net interest revenue	767			766			779			1,533			1,507
Provision for credit losses	(9		)	10			(6		)	1			(4		)
Net interest revenue after provision for credit losses	776			756			785			1,532			1,511
Noninterest expense
Staff	1,412			1,459			1,434			2,871			2,919
Professional, legal and other purchased services	290			278			299			568			601
Software and equipment	223			219			228			442			456
Net occupancy	152			142			149			294			300
Distribution and servicing	102			100			96			202			194
Sub-custodian	70			59			75			129			145
Business development	65			57			72			122			133
Other	240			241			250			481			492
Amortization of intangible assets	59			57			65			116			131
M&I, litigation and restructuring charges	7			17			59			24			56
Total noninterest expense	2,620			2,629			2,727			5,249			5,427
Income
Income before income taxes	1,165			1,091			1,165			2,256			2,255
Provision for income taxes	290			283			276			573			556
Net income	875			808			889			1,683			1,699
Net (income) loss attributable to noncontrolling interests (includes $(4), $7, $(37), $3 and $(68) related to consolidated investment management funds, respectively)	(2		)	9			(36		)	7			(67		)
Net income applicable to shareholders of The Bank of New York Mellon Corporation	873			817			853			1,690			1,632
Preferred stock dividends	(48		)	(13		)	(23		)	(61		)	(36		)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	825		$	804		$	830		$	1,629		$	1,596

Page - 24

BNY Mellon 2Q16 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						Year-to-date
	June 30, 2016		March 31, 2016		June 30, 2015		June 30, 2016		June 30, 2015
(in millions)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	825	$	804	$	830	$	1,629	$	1,596
Less: Earnings allocated to participating securities	13		11		9		24		24
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	$	812	$	793	$	821	$	1,605	$	1,572

Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation	Quarter ended			Year-to-date
	June 30, 2016	March 31, 2016	June 30, 2015	June 30, 2016	June 30, 2015
(in thousands)
Basic	1,072,583	1,079,641	1,113,790	1,076,112	1,116,183
Diluted	1,078,271	1,085,284	1,122,135	1,081,847	1,124,154

Earnings per share applicable to the common shareholders of The Bank of New York Mellon Corporation	Quarter ended						Year-to-date
	June 30, 2016		March 31, 2016		June 30, 2015		June 30, 2016		June 30, 2015
(in dollars)
Basic	$	0.76	$	0.73	$	0.74	$	1.49	$	1.41
Diluted	$	0.75	$	0.73	$	0.73	$	1.48	$	1.40

Page - 25

BNY Mellon 2Q16 Earnings Release

THE BANK OF NEW YORK MELLON CORPORATION

Consolidated Balance Sheet

(dollars in millions, except per share amounts)	June 30, 2016			March 31, 2016			Dec. 31, 2015
Assets
Cash and due from:
Banks	$	5,809		$	3,928		$	6,537
Interest-bearing deposits with the Federal Reserve and other central banks	88,080			96,426			113,203
Interest-bearing deposits with banks	13,303			14,662			15,146
Federal funds sold and securities purchased under resale agreements	28,060			26,904			24,373
Securities:
Held-to-maturity (fair value of $41,804, $42,231 and $43,204)	41,053			41,717			43,312
Available-for-sale	76,547			76,294			75,867
Total securities	117,600			118,011			119,179
Trading assets	7,148			6,526			7,368
Loans	64,513			61,661			63,703
Allowance for loan losses	(158		)	(162		)	(157		)
Net loans	64,355			61,499			63,546
Premises and equipment	1,399			1,377			1,379
Accrued interest receivable	540			545			562
Goodwill	17,501			17,604			17,618
Intangible assets	3,738			3,781			3,842
Other assets	23,735			20,307			19,626
Subtotal assets of operations	371,268			371,570			392,379
Assets of consolidated investment management funds, at fair value:
Trading assets	959			1,186			1,228
Other assets	124			114			173
Subtotal assets of consolidated investment management funds, at fair value	1,083			1,300			1,401
Total assets	$	372,351		$	372,870		$	393,780
Liabilities
Deposits:
Noninterest-bearing (principally U.S. offices)	$	99,035		$	93,005		$	96,277
Interest-bearing deposits in U.S. offices	58,519			52,124			51,704
Interest-bearing deposits in Non-U.S. offices	102,124			112,213			131,629
Total deposits	259,678			257,342			279,610
Federal funds purchased and securities sold under repurchase agreements	7,611			14,803			15,002
Trading liabilities	6,195			5,247			4,501
Payables to customers and broker-dealers	21,172			22,008			21,900
Other borrowed funds	1,098			828			523
Accrued taxes and other expenses	5,385			5,288			5,986
Other liabilities (includes allowance for lending-related commitments of $122, $125 and $118)	8,105			6,129			5,490
Long-term debt	23,573			21,686			21,547
Subtotal liabilities of operations	332,817			333,331			354,559
Liabilities of consolidated investment management funds, at fair value:
Trading liabilities	214			245			229
Other liabilities	23			9			17
Subtotal liabilities of consolidated investment management funds, at fair value	237			254			246
Total liabilities	333,054			333,585			354,805
Temporary equity
Redeemable noncontrolling interests	172			169			200
Permanent equity
Preferred stock – par value $0.01 per share; authorized 100,000,000 shares; issued 25,826, 25,826 and 25,826 shares	2,552			2,552			2,552
Common stock – par value $0.01 per share; authorized 3,500,000,000 shares; issued 1,323,941,399, 1,320,883,792 and 1,312,941,113 shares	13			13			13
Additional paid-in capital	25,563			25,432			25,262
Retained earnings	21,233			20,593			19,974
Accumulated other comprehensive loss, net of tax	(2,552		)	(2,390		)	(2,600		)
Less: Treasury stock of 256,266,980, 243,801,160 and 227,598,128 common shares, at cost	(8,250		)	(7,741		)	(7,164		)
Total The Bank of New York Mellon Corporation shareholders’ equity	38,559			38,459			38,037
Nonredeemable noncontrolling interests of consolidated investment management funds	566			657			738
Total permanent equity	39,125			39,116			38,775
Total liabilities, temporary equity and permanent equity	$	372,351		$	372,870		$	393,780

Page - 26

BNY Mellon 2Q16 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 CET1 and other risk-based capital ratios, the fully phased-in 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, which excludes goodwill and intangible assets net of deferred tax liabilities, 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 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 court decision regarding Sentinel, are also presented. Operating margin measures may also exclude the provision for credit losses 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. 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, net interest revenue and the net interest margin are 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.

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BNY Mellon 2Q16 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	2Q16					2Q15
(in millions, except per share amounts)	Net income		Diluted EPS			Net income		Diluted EPS
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	825	$	0.75		$	830	$	0.73
Add: M&I, litigation and restructuring charges	7					59
Less: Tax impact of M&I, litigation and restructuring charges	2					21
M&I, litigation and restructuring charges after-tax	5		—			38		0.03
Non-GAAP results	$	830	$	0.76	(a)	$	868	$	0.77	(a)

(a) Does not foot due to rounding.

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)	2Q16			1Q16			4Q15			3Q15			2Q15
Income before income taxes – GAAP	$	1,165		$	1,091		$	871		$	1,109		$	1,165
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds	4			(7		)	5			(5		)	37
Add: Amortization of intangible assets	59			57			64			66			65
M&I, litigation and restructuring charges	7			17			18			11			59
Impairment charge related to a court decision regarding Sentinel	—			—			170			—			—
Income before income taxes, as adjusted – Non-GAAP (a)	$	1,227		$	1,172		$	1,118		$	1,191		$	1,252
Fee and other revenue – GAAP	$	2,999		$	2,970		$	2,950		$	3,053		$	3,067
Income (loss) from consolidated investment management funds – GAAP	10			(6		)	16			(22		)	40
Net interest revenue – GAAP	767			766			760			759			779
Total revenue – GAAP	3,776			3,730			3,726			3,790			3,886
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds	4			(7		)	5			(5		)	37
Total revenue, as adjusted – Non-GAAP (a)	$	3,772		$	3,737		$	3,721		$	3,795		$	3,849
Pre-tax operating margin (b)(c)	31		%	29		%	23		%	29		%	30		%
Pre-tax operating margin – Non-GAAP (a)(b)(c)	33		%	31		%	30		%	31		%	33		%

(a) Non-GAAP information for all periods presented excludes net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets and M&I, litigation and restructuring charges. Non-GAAP information for 4Q15 excludes the impairment charge related to a court decision regarding Sentinel.

(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 $74 million for 2Q16, $77 million for 1Q16, $73 million for 4Q15, $53 million for 3Q15 and $52 million for 2Q15 and would increase our pre-tax operating margin by approximately 1.3% for 2Q16, 1.4% for 1Q16, 1.5% for 4Q15, 1.0% for 3Q15 and 0.9% for 2Q15.

Page - 28

BNY Mellon 2Q16 Earnings Release

The following table presents the reconciliation of the operating leverage.

Operating leverage								2Q16 vs.
(dollars in millions)	2Q16		1Q16			2Q15		1Q16		2Q15
Total revenue – GAAP	$	3,776	$	3,730		$	3,886	1.23%		(2.83)%
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds	4		(7		)	37
Total revenue, as adjusted – Non-GAAP	$	3,772	$	3,737		$	3,849	0.94%		(2.00)%
Total noninterest expense – GAAP	$	2,620	$	2,629		$	2,727	(0.34)%		(3.92)%
Less: Amortization of intangible assets	59		57			65
M&I, litigation and restructuring charges	7		17			59
Total noninterest expense, as adjusted – Non-GAAP	$	2,554	$	2,555		$	2,603	(0.04)%		(1.88)%
Operating leverage – GAAP (a)								157	bps	109	bps
Operating leverage, as adjusted – Non-GAAP (a)(b)								98	bps	(12	) bps

(a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.

(b) Non-GAAP operating leverage for all periods presented excludes net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets and M&I, litigation and restructuring charges.

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)	2Q16			1Q16			4Q15			3Q15			2Q15
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	825		$	804		$	637		$	820		$	830
Add: Amortization of intangible assets	59			57			64			66			65
Less: Tax impact of amortization of intangible assets	21			20			22			23			21
Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets – Non-GAAP	863			841			679			863			874
Add: M&I, litigation and restructuring charges	7			17			18			11			59
Impairment charge related to a court decision regarding Sentinel	—			—			170			—			—
Less: Tax impact of M&I, litigation and restructuring charges	2			6			6			3			21
Tax impact of impairment charge related to a court decision regarding Sentinel	—			—			64			—			—
Net income applicable to common shareholders of The Bank of New York Mellon Corporation, as adjusted – Non-GAAP (a)	$	868		$	852		$	797		$	871		$	912
Average common shareholders’ equity	$	35,826		$	35,252		$	35,664		$	35,588		$	35,516
Less: Average goodwill	17,622			17,562			17,673			17,742			17,752
Average intangible assets	3,789			3,812			3,887			3,962			4,031
Add: Deferred tax liability – tax deductible goodwill (b)	1,452			1,428			1,401			1,379			1,351
Deferred tax liability – intangible assets (b)	1,129			1,140			1,148			1,164			1,179
Average tangible common shareholders’ equity – Non-GAAP	$	16,996		$	16,446		$	16,653		$	16,427		$	16,263
Return on common equity – GAAP (c)	9.3		%	9.2		%	7.1		%	9.1		%	9.4		%
Return on common equity – Non-GAAP (a)(c)	9.7		%	9.7		%	8.9		%	9.7		%	10.3		%
Return on tangible common equity – Non-GAAP (c)	20.4		%	20.6		%	16.2		%	20.8		%	21.5		%
Return on tangible common equity – Non-GAAP adjusted (a)(c)	20.5		%	20.8		%	19.0		%	21.0		%	22.5		%

(a) Non-GAAP information for all periods presented excludes amortization of intangible assets, net of tax, andM&I, litigation and restructuring charges. Non-GAAP information for 4Q15 also excludes the impairment charge related to a court decision regarding Sentinel.

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

(c) Annualized.

Page - 29

BNY Mellon 2Q16 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	June 30, 2016			March 31, 2016			Dec. 31, 2015			Sept. 30, 2015			June 30, 2015
(dollars in millions, unless otherwise noted)
BNY Mellon shareholders’ equity at period end – GAAP	$	38,559		$	38,459		$	38,037		$	38,170		$	38,270
Less: Preferred stock	2,552			2,552			2,552			2,552			2,552
BNY Mellon common shareholders’ equity at period end – GAAP	36,007			35,907			35,485			35,618			35,718
Less: Goodwill	17,501			17,604			17,618			17,679			17,807
Intangible assets	3,738			3,781			3,842			3,914			4,000
Add: Deferred tax liability – tax deductible goodwill (a)	1,452			1,428			1,401			1,379			1,351
Deferred tax liability – intangible assets (a)	1,129			1,140			1,148			1,164			1,179
BNY Mellon tangible common shareholders’ equity at period end – Non-GAAP	$	17,349		$	17,090		$	16,574		$	16,568		$	16,441
Total assets at period end – GAAP	$	372,351		$	372,870		$	393,780		$	377,371		$	395,254
Less: Assets of consolidated investment management funds	1,083			1,300			1,401			2,297			2,231
Subtotal assets of operations – Non-GAAP	371,268			371,570			392,379			375,074			393,023
Less: Goodwill	17,501			17,604			17,618			17,679			17,807
Intangible assets	3,738			3,781			3,842			3,914			4,000
Cash on deposit with the Federal Reserve and other central banks (b)	88,080			96,421			116,211			86,426			106,628
Tangible total assets of operations at period end – Non-GAAP	$	261,949		$	253,764		$	254,708		$	267,055		$	264,588
BNY Mellon shareholders’ equity to total assets ratio – GAAP	10.4		%	10.3		%	9.7		%	10.1		%	9.7		%
BNY Mellon common shareholders’ equity to total assets ratio – GAAP	9.7		%	9.6		%	9.0		%	9.4		%	9.0		%
BNY Mellon tangible common shareholders’ equity to tangible assets of operations ratio – Non-GAAP	6.6		%	6.7		%	6.5		%	6.2		%	6.2		%
Period-end common shares outstanding (in thousands)	1,067,674			1,077,083			1,085,343			1,092,953			1,106,518
Book value per common share – GAAP	$	33.72		$	33.34		$	32.69		$	32.59		$	32.28
Tangible book value per common share – Non-GAAP	$	16.25		$	15.87		$	15.27		$	15.16		$	14.86

(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)	2Q16		1Q16			4Q15		3Q15			2Q15
Income (loss) from consolidated investment management funds	$	10	$	(6	)	$	16	$	(22	)	$	40
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds	4		(7		)	5		(5		)	37
Income (loss) from consolidated investment management funds, net of noncontrolling interests	$	6	$	1		$	11	$	(17	)	$	3

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						2Q16 vs.
(dollars in millions)	2Q16		2Q15			2Q15
Investment management and performance fees – GAAP	$	830	$	878		(5	)%
Impact of changes in foreign currency exchange rates	—		(14		)
Investment management and performance fees, as adjusted – Non-GAAP	$	830	$	864		(4	)%

Page - 30

BNY Mellon 2Q16 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)	2Q16		1Q16			4Q15		3Q15			2Q15
Investment management fees	$	3	$	2		$	7	$	3		$	4
Other (Investment income (loss))	3		(1		)	4		(20		)	(1		)
Income (loss) from consolidated investment management funds, net of noncontrolling interests	$	6	$	1		$	11	$	(17	)	$	3

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						2Q16 vs.
(dollars in millions)	2Q16		2Q15			2Q15
Investment management fees – GAAP	$	808	$	835		(3	)%
Impact of changes in foreign currency exchange rates	—		(14		)
Investment management fees, as adjusted – Non-GAAP	$	808	$	821		(2	)%

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)	2Q16			1Q16			4Q15			3Q15			2Q15
Income before income taxes – GAAP	$	234		$	217		$	290		$	236		$	259
Add: Amortization of intangible assets	19			19			24			24			25
Provision for credit losses	1			(1		)	(4		)	1			3
Money market fee waivers	11			9			23			28			29
Income before income taxes excluding amortization of intangible assets, provision for credit losses and money market fee waivers – Non-GAAP	$	265		$	244		$	333		$	289		$	316
Total revenue – GAAP	$	938		$	895		$	999		$	926		$	987
Less: Distribution and servicing expense	102			100			92			94			95
Money market fee waivers benefiting distribution and servicing expense	15			23			27			35			37
Add: Money market fee waivers impacting total revenue	26			32			50			63			66
Total revenue net of distribution and servicing expense and excluding money market fee waivers – Non-GAAP	$	847		$	804		$	930		$	860		$	921
Pre-tax operating margin (a)	25		%	24		%	29		%	25		%	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)	31		%	30		%	36		%	34		%	34		%

(a)    Income before taxes divided by total revenue.

Page - 31

BNY Mellon 2Q16 Earnings Release

DIVIDENDS

Common – On July 21, 2016, The Bank of New York Mellon Corporation declared a quarterly common stock dividend of $0.19 per common share, an increase from the prior dividend amount of $0.17 per common share. This cash dividend is payable on Aug. 12, 2016 to shareholders of record as of the close of business on Aug. 2, 2016.

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

• $1,022.22 per share on the Series A Preferred Stock (equivalent to $10.2222 per Normal Preferred Capital Security of Mellon Capital IV, each representing a 1/100th interest in a share of the Series A Preferred Stock); and

• $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).

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 June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or administration, and $1.7 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 driving revenue growth, our business model, technology, digital transformation, capital plans and the potential effects of adopting a single point of entry resolution strategy. 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,” “likely,” “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 July 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 - 32

EX-99.2

The Bank of New York Mellon Corporation

Quarterly Financial Trends

July 21, 2016

Table of Contents
Consolidated Results	Page
Consolidated Corporate Earnings - Quarterly Trend	3
Fee and Other Revenue	4
Average Balances and Interest Rates	5
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
Appendix - GAAP to Non-GAAP Reconciliations	17

THE BANK OF NEW YORK MELLON CORPORATION - CONSOLIDATED CORPORATE EARNINGS - 10 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			2nd 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		$	1,069
Issuer services	229			231			315			193			232			234			313			199			244			234
Clearing services	325			326			337			347			344			347			345			339			350			350
Treasury services	136			141			142			145			137			144			137			137			131			139
Total investment services fees	1,699			1,720			1,819			1,704			1,751			1,785			1,852			1,707			1,765			1,792
Investment management and performance fees (a)	843			883			881			885			867			878			829			864			812			830
Foreign exchange & other trading revenue	136			130			153			151			229			187			179			173			175			182
Distribution and servicing	43			43			44			43			41			39			41			41			39			43
Financing-related fees	38			44			44			43			40			58			71			51			54			57
Investment and other income (a)(b)	102			142			890			78			60			104			59			93			105			74
Total fee revenue (a)(b)	2,861			2,962			3,831			2,904			2,988			3,051			3,031			2,929			2,950			2,978
Net securities gains (losses)	22			18			20			31			24			16			22			21			20			21
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			2,999
Income (loss) of consolidated investment management funds (a)	36			46			39			42			52			40			(22		)	16			(6		)	10
Net interest revenue	728			719			721			712			728			779			759			760			766			767
Total revenue (a)(b)	3,647			3,745			4,611			3,689			3,792			3,886			3,790			3,726			3,730			3,776
Provision for credit losses	(18		)	(12		)	(19		)	1			2			(6		)	1			163			10			(9		)
Noninterest expense	2,676			2,749			2,673			2,651			2,637			2,603			2,603			2,610			2,555			2,554
Amortization of intangible assets	75			75			75			73			66			65			66			64			57			59
Merger & integration, litigation and restructuring charges	(12		)	122			220			800			(3		)	59			11			18			17			7
Total noninterest expense	2,739			2,946			2,968			3,524			2,700			2,727			2,680			2,692			2,629			2,620
Income (loss) from continuing operations before taxes (b)	926			811			1,662			164			1,090			1,165			1,109			871			1,091			1,165
Provision for income taxes (b)	232			217			556			(93		)	280			276			282			175			283			290
Net income (loss) from continuing operations (b)	694			594			1,106			257			810			889			827			696			808			875
Net income (loss) attributable to noncontrolling interest (a)(c)	(20		)	(17		)	(23		)	(24		)	(31		)	(36		)	6			(3		)	9			(2		)
Preferred stock dividends	(13		)	(23		)	(13		)	(24		)	(13		)	(23		)	(13		)	(56		)	(13		)	(48		)
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		$	825
Earnings per share (b)(d)	$	0.57		$	0.48		$	0.93		$	0.18		$	0.67		$	0.73		$	0.74		$	0.57		$	0.73		$	0.75
Pre-tax operating margin - GAAP (a)	25		%	22		%	36		%	4		%	29		%	30		%	29		%	23		%	29		%	31		%
Non-GAAP (a)(e)	27		%	30		%	29		%	28		%	30		%	33		%	31		%	30		%	31		%	33		%
Return on common equity (annualized) - GAAP	7.4		%	6.1		%	11.6		%	2.2		%	8.8		%	9.4		%	9.1		%	7.1		%	9.2		%	9.3		%
Return on tangible common equity (annualized) - Non-GAAP (e)	17.6		%	14.5		%	26.2		%	5.9		%	20.3		%	21.5		%	20.8		%	16.2		%	20.6		%	20.4		%
Percent of non-US total revenue (f)	37		%	38		%	43		%	35		%	36		%	36		%	37		%	34		%	33		%	34		%
(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 and second quarter of 2016 include 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 regarding Sentinel, 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 24 of the Quarterly Earnings Release dated July 21, 2016, for the second 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. Also, see "Appendix - GAAP to Non-GAAP Reconciliations" beginning on page 17 for the reconciliation of Non-GAAP measures.
(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 - 10 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			2nd Qtr
Investment services fees:
Asset servicing	$	971		$	976		$	988		$	982		$	995		$	1,011		$	1,019		$	986		$	990		$	1,017
Securities lending	38			46			37			37			43			49			38			46			50			52
Issuer services	229			231			315			193			232			234			313			199			244			234
Clearing services	325			326			337			347			344			347			345			339			350			350
Treasury services	136			141			142			145			137			144			137			137			131			139
Total investment services fees	1,699			1,720			1,819			1,704			1,751			1,785			1,852			1,707			1,765			1,792
Investment management and performance fees (a)	843			883			881			885			867			878			829			864			812			830
Foreign exchange and other trading revenue	136			130			153			151			229			187			179			173			175			182
Distribution and servicing	43			43			44			43			41			39			41			41			39			43
Financing-related fees	38			44			44			43			40			58			71			51			54			57
Investment and other income (a)	102			142			890			78			60			104			59			93			105			74
Total fee revenue (a)	$	2,861		$	2,962		$	3,831		2,904			2,988			3,051			3,031			2,929			2,950			2,978
Net securities gains	22			18			20			31			24			16			22			21			20			21
Total fee and other revenue (a)	$	2,883		$	2,980		$	3,851		$	2,935		$	3,012		$	3,067		$	3,053		$	2,950		$	2,970		$	2,999
Fee revenue as a percentage of total revenue	79		%	79		%	83		%	79		%	79		%	79		%	81		%	79		%	80		%	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																				2015
(dollar amounts in millions)	March 31					June 30					Sept. 30					Dec. 31					March 31					June 30
	Average balance			Average rate		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)	$	41,617		0.71	%	$	41,424		0.74	%	$	34,882		0.66	%	$	24,623		0.49	%	$	22,071		0.56	%	$	20,235		0.56	%
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		81,160			0.23		81,846			0.21
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		20,416			0.59		23,545			0.61
Margin loans	15,840			1.07		17,050			1.05		18,108			1.04		18,897			1.01		20,051			1.00		20,467			1.01
Non-margin loans:
Domestic offices	22,002			2.31		22,566			2.30		23,826			2.20		25,103			2.20		25,256			2.14		26,716			2.06
Foreign offices	13,805			1.26		13,833			1.34		12,901			1.30		12,844			1.21		12,628			1.24		13,893			1.19
Total non-margin loans	35,807			1.90		36,399			1.94		36,727			1.88		37,947			1.86		37,884			1.84		40,609			1.77
Securities:
U.S. government obligations	17,213			1.61		17,462			1.63		23,067			1.38		24,331			1.48		27,454			1.38		28,331			1.42
U.S. government agency obligations	42,710			1.87		43,167			1.67		46,186			1.67		49,106			1.70		52,744			1.68		56,332			1.77
Obligations of states and political subdivisions	6,691			2.50		6,473			2.58		5,830			2.54		5,305			2.61		5,213			2.64		5,021			2.67
Other securities	33,920			1.64		34,318			1.55		36,972			1.37		38,501			1.23		38,065			1.33		38,957			1.24
Trading securities	5,217			2.60		5,532			2.19		5,435			2.36		3,922			2.64		3,046			2.46		3,253			2.63
Total securities	105,751			1.83		106,952			1.71		117,490			1.59		121,165			1.58		126,522			1.57		131,894			1.59
Total interest-earning assets	284,532			1.17		300,758			1.10		311,603			1.05		318,608			1.02		308,104			1.07		318,596			1.08
Allowance for loan losses	(210		)			(197		)			(187		)			(186		)			(191		)			(190		)
Cash and due from banks	5,886					5,064					6,225					4,715					6,204					6,785
Other assets	53,430					52,182					52,526					52,472					51,966					50,808
Assets of consolidated investment funds (a)	11,354					11,405					10,242					9,623					2,328					2,280
Total Assets (a)	$	354,992				$	369,212				$	380,409				$	385,232				$	368,411				$	378,279
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	%	$	10,021		0.12	%	$	10,322		0.13	%
Savings	1,034			0.25		1,185			0.27		1,258			0.28		1,262			0.30		1,429			0.30		1,326			0.27
Other time deposits	41,544			0.04		42,824			0.04		41,248			0.04		41,507			0.04		43,259			0.04		46,807			0.03
Foreign offices	101,075			0.06		111,082			0.06		113,841			0.05		111,511			0.02		104,811			0.03		112,261			—
Total interest-bearing deposits	152,986			0.06		162,674			0.06		164,233			0.06		163,149			0.03		159,520			0.04		170,716			0.02
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	)	13,877			(0.09	)	16,732			(0.02	)
Trading Liabilities	1,978			1.59		2,993			0.97		2,806			0.84		1,024			1.44		795			1.07		632			1.84
Other borrowed funds	1,137			0.47		3,242			0.23		4,587			0.15		5,270			0.25		2,108			0.50		3,795			0.37
Payables to customers and broker-dealers	8,883			0.09		8,916			0.09		9,705			0.10		10,484			0.08		10,932			0.07		11,234			0.07
Long-term debt	20,420			1.09		20,361			1.16		20,429			1.12		21,187			1.27		20,199			1.21		20,625			0.99
Total interest-bearing liabilities	199,909			0.17		217,216			0.17		222,380			0.16		221,399			0.16		207,431			0.15		223,734			0.12
Total noninterest-bearing deposits	81,430					77,820					82,334					85,330					89,592					84,890
Other liabilities	24,608					24,854					27,369					30,743					32,341					29,840
Liabilities and obligations of consolidated investment funds	10,128					10,180					8,879					8,101					1,004					857
Total The Bank of New York Mellon Corporation Shareholders' Equity	37,851					38,127					38,313					38,421					37,048					37,829
Noncontrolling interest (a)	1,066					1,015					1,134					1,238					995					1,129
Total liabilities and shareholders' equity (a)	$	354,992				$	369,212				$	380,409				$	385,232				$	368,411				$	378,279
Net interest margin - Taxable equivalent basis				1.05	%				0.98	%				0.94	%				0.91	%				0.97	%				1.00	%

(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.

5

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

	2015										2016
(dollar amounts in millions)	Sept. 30					Dec. 31					March 31					June 30
	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)	$	20,549		0.45	%	$	19,301		0.45	%	$	14,909		0.69	%	$	14,394		0.68	%
Interest-bearing deposits with Federal Reserve & other central banks	84,175			0.20		84,880			0.18		89,092			0.28		97,788			0.30
Federal funds sold and securities purchased under resale agreements	25,366			0.61		24,147			0.69		23,623			0.84		25,813			0.87
Margin loans	19,839			1.05		19,321			1.09		18,907			1.34		18,226			1.40
Non-margin loans:
Domestic offices	27,411			2.15		27,751			2.06		28,506			2.21		29,413			2.25
Foreign offices	14,407			1.13		14,892			1.17		13,783			1.39		12,645			1.57
Total non-margin loans	41,818			1.80		42,643			1.75		42,289			1.95		42,058			2.04
Securities
U.S. government obligations	23,935			1.52		23,955			1.53		24,479			1.50		24,571			1.50
U.S. government agency obligations	55,624			1.76		55,441			1.81		55,966			1.79		56,050			1.68
Obligations of states and political subdivisions	4,465			2.81		4,164			2.80		3,979			2.89		3,778			2.90
Other securities	37,164			1.28		35,972			1.25		34,114			1.22		33,603			1.24
Trading securities	2,737			2.74		2,786			2.79		3,320			2.16		2,152			2.45
Total securities	123,925			1.63		122,318			1.65		121,858			1.62		120,154			1.57
Total interest-earning assets	315,672			1.08		312,610			1.08		310,678			1.16		318,433			1.14
Allowance for loan losses	(184		)			(181		)			(157		)			(163		)
Cash and due from banks	6,140					5,597					3,879					4,141
Other assets	49,700					48,849					48,845					50,563
Assets of consolidated investment funds	2,125					1,715					1,309					1,246
Total Assets	$	373,453				$	368,590				$	364,554				$	374,220
Liabilities and total equity
Interest-bearing liabilities:
Money market rate accounts and demand deposit accounts	$	10,623		0.13	%	$	9,292		0.12	%	$	8,249		0.11	%	$	9,070		0.13	%
Savings	1,279			0.27		1,217			0.27		1,235			0.27		1,175			0.39
Other time deposits	43,529			0.04		43,061			0.03		42,678			0.04		46,629			0.06
Foreign offices	114,322			—		106,764			—		109,855			0.03		108,248			0.01
Total interest-bearing deposits	169,753			0.02		160,334			0.01		162,017			0.04		165,122			0.03
Federal funds purchased and securities sold under repurchase agreements	14,796			(0.04	)	20,349			(0.03	)	18,689			0.20		18,204			0.28
Trading Liabilities	475			1.42		638			1.34		551			1.43		662			0.66
Other borrowed funds	2,823			0.35		733			1.13		781			0.96		4,628			0.48
Payables to customers and broker-dealers	11,504			0.06		12,904			0.06		16,801			0.09		16,935			0.05
Long-term debt	21,070			1.21		21,418			1.19		21,556			1.57		22,838			1.54
Total interest-bearing liabilities	220,421			0.14		216,376			0.14		220,395			0.21		228,389			0.21
Total noninterest-bearing deposits	85,046					85,878					82,944					84,033
Other liabilities	27,880					26,530					22,300					22,345
Liabilities and obligations of consolidated investment funds (a)	841					629					259					253
Total The Bank of New York Mellon Corporation Shareholders' Equity	38,140					38,216					37,804					38,379
Noncontrolling interest	1,125					961					852					821
Total liabilities and shareholders' equity	$	373,453				$	368,590				$	364,554				$	374,220
Net interest margin - Taxable equivalent basis				0.98	%				0.99	%				1.01	%				0.98	%

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 - 10 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		2nd Qtr
Staff	$	1,511		$	1,439	$	1,477	$	1,418	$	1,485		$	1,434	$	1,437	$	1,481	$	1,459	$	1,412
Professional, legal and other purchased services	312			314		323		390		302			299		301		328		278		290
Software and equipment	237			236		234		235		228			228		226		225		219		223
Net occupancy	154			152		154		150		151			149		152		148		142		152
Distribution and servicing	107			112		107		102		98			96		95		92		100		102
Business development	64			68		61		75		61			72		59		75		57		65
Sub-custodian	68			81		67		70		70			75		65		60		59		70
Other	223			347		250		211		242			250		268		201		241		240
Amortization of intangible assets	75			75		75		73		66			65		66		64		57		59
Merger & integration, litigation and restructuring charges	(12		)	122		220		800		(3		)	59		11		18		17		7
Total noninterest expense	$	2,739		$	2,946	$	2,968	$	3,524	$	2,700		$	2,727	$	2,680	$	2,692	$	2,629	$	2,620
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 (a)	$	2,681		$	2,640	$	2,673	$	2,651	$	2,637		$	2,603	$	2,603	$	2,610	$	2,555	$	2,554
Full-time employees at period-end	51,400			51,100		50,900		50,300		50,500			50,700		51,300		51,200		52,100		52,200
(a) See "Appendix - GAAP to Non-GAAP Reconciliations" beginning on page 17 for the reconciliation of Non-GAAP measures.

7

THE BANK OF NEW YORK MELLON CORPORATION

ASSETS UNDER MANAGEMENT, CUSTODY AND/OR ADMINISTRATION AND SECURITIES LENDING - 10 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			2nd Qtr
Assets under management at period-end: (a)
Institutional	$	1,092		$	1,084		$	1,106		$	1,164		$	1,188		$	1,163		$	1,129		$	1,127		$	1,155		$	1,182
Mutual Funds	415			440			430			438			445			454			419			420			405			398
Private Client	85			85			84			84			84			83			77			78			79			84
Assets under management	$	1,592		$	1,609		$	1,620		$	1,686		$	1,717		$	1,700		$	1,625		$	1,625		$	1,639		$	1,664		(b)
AUM at period-end, by product type: (a)
Equity	17		%	17		%	16		%	15		%	15		%	15		%	14		%	14		%	14		%	14		%
Fixed income	13			13			13			12			12			13			13			13			13			13
Index	21			22			21			21			22			21			20			20			19			18
Liability-driven investments (c)	27			27			28			30			30			30			32			32			33			34
Alternative investments	4			4			4			4			4			4			4			4			4			4
Cash	18			17			18			18			17			17			17			17			17			17
Total AUM	100		%	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		$	29.5		(b)
Market value of securities on loan at period-end (e)	$	264		$	280		$	282		$	289		$	291		$	283		$	288		$	277		$	300		$	278
Key Market Metrics
S&P 500 Index (f)	1872			1960			1972			2059			2068			2063			1920			2044			2060			2099
S&P 500 Index - daily average	1835			1900			1976			2009			2064			2102			2027			2052			1951			2075
FTSE 100 Index (f)	6598			6744			6623			6566			6773			6521			6062			6242			6175			6504
FTSE 100 Index-daily average	6680			6764			6756			6526			6793			6920			6399			6271			5988			6204
MSCI World Index (f)	1674			1743			1698			1710			1741			1736			1582			1663			1648			1653
MSCI World Index-daily average	1647			1698			1733			1695			1726			1780			1691			1677			1568			1656
Barclays Capital Global Aggregate BondSM Index (f)(g)	365			376			361			357			348			342			346			342			368			382
NYSE & NASDAQ Share Volume (in billions)	196			187			173			198			187			185			206			198			218			203
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			11.12
Average Fed Funds effective rate	0.07		%	0.09		%	0.09		%	0.10		%	0.11		%	0.13		%	0.13		%	0.16		%	0.36		%	0.37		%
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		$	1.34
British pound - average rate	1.66			1.68			1.67			1.58			1.51			1.53			1.55			1.52			1.43			1.43
Euro (f)	1.38			1.37			1.26			1.22			1.07			1.11			1.12			1.09			1.14			1.11
Euro - average rate	1.37			1.37			1.33			1.25			1.13			1.11			1.11			1.10			1.10			1.13
(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 and June 30, 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 and June 30, 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 - 10 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			2nd 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		$	1,639
Net inflows (outflows):
Long-term:
Equity	(1		)	(5		)	(2		)	(5		)	(5		)	(13		)	(4		)	(9		)	(3		)	(2		)
Fixed income	—			—			—			4			3			(2		)	(3		)	1			—			(2		)
Liability-driven investments (b)	20			(17		)	19			24			8			5			11			11			14			15
Alternative investments	2			2			—			2			1			3			1			2			1			1
Total long-term active inflows (outflows)	21			(20		)	17			25			7			(7		)	5			5			12			12
Index	—			7			(3		)	1			8			(9		)	(10		)	(16		)	(11		)	(17		)
Total long-term inflows (outflows)	21			(13		)	14			26			15			(16		)	(5		)	(11		)	1			(5		)
Short-term:
Cash	(7		)	(17		)	18			6			1			(11		)	(10		)	2			(9		)	4
Total net inflows (outflows)	14			(30		)	32			32			16			(27		)	(15		)	(9		)	(8		)	(1		)
Net market impact / Other	17			31			15			59			32			(29		)	(35		)	24			41			71
Net currency impact	4			16			(36		)	(25		)	(35		)	39			(25		)	(15		)	(19		)	(47		)
Acquisitions	—			—			—			—			18			—			—			—			—			2
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		1,664			(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 - 10 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			2nd Qtr
Revenue:
Investment management fees:
Mutual funds	$	299		$	311		$	315		$	306		$	301		$	312		$	301		$	294		$	300		$	304
Institutional clients	359			373			370			364			365			363			347			350			334			344
Wealth management	153			156			158			157			159			160			156			155			152			160
Total investment management fees	811			840			843			827			825			835			804			799			786			808
Performance fees	20			29			22			40			15			20			7			55			11			9
Investment management and performance fees	831			869			865			867			840			855			811			854			797			817
Distribution and servicing	39			39			40			39			38			38			37			39			46			49
Other (a)	12			43			11			2			41			17			(5		)	22			(31		)	(10		)
Total fee and other revenue (a)	882			951			916			908			919			910			843			915			812			856
Net interest revenue	69			67			69			69			75			77			83			84			83			82
Total revenue	951			1,018			985			977			994			987			926			999			895			938
Provision for credit losses	(1		)	1			—			—			(1		)	3			1			(4		)	(1		)	1
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			684
Income before taxes (ex. intangible amortization and the charge (recovery) related to investment management funds, net of incentives)	272			306			273			263			287			284			260			314			236			253
Charge (recovery) related to investment management funds, net of incentives	(5		)	109			—			—			—			—			—			—			—			—
Amortization of intangible assets	30			30			30			28			24			25			24			24			19			19
Income before taxes	$	247		$	167		$	243		$	235		$	263		$	259		$	236		$	290		$	217		$	234
Average assets	$	39,333		$	37,619		$	36,542		$	37,163		$	31,361		$	30,414		$	30,960		$	30,982		$	29,971		$	30,229
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		$	1,664		(c)
Pre-tax operating margin	26		%	16		%	25		%	24		%	26		%	26		%	25		%	29		%	24		%	25		%
Adjusted pre-tax operating margin - Non-GAAP (d)	35		%	36		%	33		%	33		%	34		%	34		%	34		%	36		%	30		%	31		%
(a)  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.
(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 24 of the Quarterly Earnings Release for the reconciliation of Non-GAAP measures. Also, see "Appendix - GAAP to Non-GAAP Reconciliations" beginning on page 17 for the reconciliation of Non-GAAP measures.

10

THE BANK OF NEW YORK MELLON CORPORATION

INVESTMENT SERVICES BUSINESS - 10 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			2nd Qtr
Revenue:
Investment services fees
Asset servicing fees - ex. securities lending	$	955		$	958		$	971		$	964		$	979		$	995		$	1,001		$	970		$	974		$	1,001
Securities lending revenue	33			39			31			32			38			43			33			39			42			42
Issuer services	228			231			314			193			231			234			312			199			244			233
Clearing services	323			324			336			346			342			346			345			337			348			350
Treasury services	134			140			139			142			135			141			135			135			129			137
Total investment services fees	1,673			1,692			1,791			1,677			1,725			1,759			1,826			1,680			1,737			1,763
Foreign Exchange and other trading revenue	164			148			164			167			212			181			179			150			168			161
Other (a)	86			117			90			113			92			117			129			127			125			130
Total fee and other revenue	1,923			1,957			2,045			1,957			2,029			2,057			2,134			1,957			2,030			2,054
Net interest revenue	625			630			613			600			629			667			662			664			679			690
Total revenue	2,548			2,587			2,658			2,557			2,658			2,724			2,796			2,621			2,709			2,744
Provision for credit losses	(7		)	(8		)	7			10			7			6			7			8			14			(7		)
Noninterest expenses (ex. intangible amortization)	1,815			1,856			1,863			2,532			1,822			1,874			1,853			1,791			1,770			1,819
Income before taxes (ex. intangible amortization)	740			739			811			15			829			844			936			822			925			932
Amortization of intangible assets	44			44			44			43			41			40			41			40			38			40
Income before taxes	$	696		$	695		$	767		$	(28	)	$	788		$	804		$	895		$	782		$	887		$	892
Average loans	$	38,077		$	39,737		$	40,344		$	42,342		$	45,071		$	45,822		$	46,222		$	45,844		$	45,004		$	43,786
Average assets	$	264,875		$	269,636		$	272,331		$	278,902		$	287,321		$	292,264		$	285,195		$	281,766		$	273,289		$	277,225
Average deposits	$	220,393		$	225,316		$	226,576		$	229,613		$	235,524		$	238,404		$	232,250		$	229,241		$	215,707		$	221,998
Pre-tax operating margin	27		%	27		%	29		%	(1		)%	30		%	30		%	32		%	30		%	33		%	33		%
Pre-tax operating margin (ex. provision for credit losses and intangible amortization)	29		%	28		%	30		%	1		%	31		%	31		%	34		%	32		%	35		%	34		%
Investment services fees as a percentage of noninterest expense (b)	92		%	91		%	96		%	66		%	95		%	94		%	99		%	94		%	98		%	97		%
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		$	29.5		(d)
Market value of securities on loan at period-end (in billions) (e)	$	264		$	280		$	282		$	289		$	291		$	283		$	288		$	277		$	300		$	278
(a) Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue, and investment and other income.
(b) Investment services fees as a percentage of non-interest expense (ex. amortization of intangible assets) was lower in 4Q14 primarily reflecting 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 and June 30, 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 and at June 30, 2016.

11

THE BANK OF NEW YORK MELLON

OTHER SEGMENT- 10 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			2nd Qtr
Revenue:
Fee and other revenue (a)	$	94		$	101		$	906		$	88		$	85		$	103		$	59		$	89		$	129		$	95
Net interest revenue	34			22			39			43			24			35			14			12			4			(5		)
Total revenue (a)	128			123			945			131			109			138			73			101			133			90
Provision for credit losses	(10		)	(5		)	(3		)	(9		)	(4		)	(15		)	(7		)	159			(3		)	(3		)
Noninterest expense (ex. amortization of intangible assets, M&I and restructuring (recoveries) charges) Non-GAAP	174			75			261			205			108			79			97			150			141			53
Income (loss) before taxes (ex. amortization of intangible assets, M&I and restructuring (recoveries) charges) Non-GAAP (a)	$	(36	)	$	53		$	687		$	(65	)	$	5		$	74		$	(17	)	$	(208	)	$	(5	)	$	40
Amortization of intangible assets	1			1			1			2			1			—			1			—			—			—
M&I and restructuring (recoveries) charges	—			120			57			—			(4		)	8			(2		)	(4		)	(1		)	3
Income (loss) before taxes GAAP (a)	$	(37	)	$	(68	)	$	629		$	(67	)	$	8		$	66		$	(16	)	$	(204	)	$	(4	)	$	37
Average loans and leases	$	3,495		$	3,340		$	3,719		$	3,378		$	1,230		$	2,956		$	2,656		$	2,673		$	1,917		$	1,703
Average assets	$	50,784		$	55,601		$	57,298		$	69,167		$	49,729		$	55,601		$	57,298		$	55,842		$	61,294		$	66,766
(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)
Provision for credit losses	(1		)	—			(6		)	28			(21		)	9			133				(27		)		(38		)		160				(48		)		(35		)
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. intangible amortization)	1,145			1,010			1,111			3,431			2,305			3,141			(144		)	(a)	462			(a)(b)	(213		)	(a)(b)	4,432			(a)(b)	3,777			(a)(b)	4,039			(a)(b)
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 - 10 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			June 30
Nonperforming loans:
Other residential mortgages	$	107		$	105		$	113		$	112		$	111		$	110		$	103		$	102		$	99		$	97
Wealth management loans and mortgages	12			12			13			12			12			11			12			11			11			10
Commercial real estate	4			4			4			1			1			1			1			2			2			2
Lease financing	13			13			13			—			—			—			—			—			5			4
Foreign	7			4			—			—			—			—			—			—			—			—
Financial institutions	—			—			—			—			—			—			—			171			171			171
Total nonperforming loans	143			138			143			125			124			122			116			286			288			284
Other assets owned	3			4			4			3			4			5			7			6			4			5
Total nonperforming assets (a)	$	146		$	142		$	147		$	128		$	128		$	127		$	123		$	292		$	292		$	289
Nonperforming assets ratio	0.27		%	0.24		%	0.26		%	0.22		%	0.21		%	0.20		%	0.20		%	0.46		%	0.48		%	0.45		%
Nonperforming assets ratio excluding margin loans	0.39		%	0.34		%	0.37		%	0.33		%	0.30		%	0.30		%	0.28		%	0.67		%	0.69		%	0.63		%
Allowance for loan losses/nonperforming loans	138.5			135.5			133.6			152.8			153.2			150.0			156.0			54.9			56.3			55.6
Allowance for loan losses/nonperforming assets	135.6			131.7			129.9			149.2			148.4			144.1			147.2			53.8			55.5			54.7
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			98.6
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			96.9
(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 - 10 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			June 30
Allowance for credit losses:
Allowance for credit losses	$	210		$	198		$	187		$	191		$	191		$	190		$	183		$	181		$	157		$	162
Allowance for lending-related commitments	134			128			124			97			89			93			95			99			118			125
Allowance for credit losses - beginning of period	$	344		$	326		$	311		$	288		$	280		$	283		$	278		$	280		$	275		$	287
Net (charge-offs)
Charge-offs	(1		)	(4		)	(5		)	(10		)	—			—			—			(170		)	—			—
Recoveries	1			1			1			1			1			1			1			2			2			2
Total Net (charge-offs)	—			(3		)	(4		)	(9		)	1			1			1			(168		)	2			2
Provision for credit losses	(18		)	(12		)	(19		)	1			2			(6		)	1			163			10			(9		)
Allowance for credit losses - end of period	$	326		$	311		$	288		$	280		$	283		$	278		$	280		$	275		$	287		$	280
Allowance for loan losses
Allowance for loan losses	$	198		$	187		$	191		$	191		$	190		$	183		$	181		$	157		$	162		$	158
Allowance for lending-related commitments	128			124			97			89			93			95			99			118			125			122
Allowance for credit losses - end of period	$	326		$	311		$	288		$	280		$	283		$	278		$	280		$	275		$	287		$	280
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		%	0.25		%

15

THE BANK OF NEW YORK MELLON CORPORATION

Quarterly Financial Trends

July 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. Also, see "Appendix - GAAP to Non-GAAP Reconciliations" beginning on page 17 for the reconciliation of Non-GAAP measures. 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 June 30, 2016 or other reports filed with the SEC.

16

Appendix - GAAP to Non-GAAP Reconciliations

17

THE BANK OF NEW YORK MELLON CORPORATION

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

BNY Mellon has included in these Quarterly Financial Trends certain Non-GAAP financial measures based on tangible common shareholders’ equity. BNY Mellon believes that the ratio of tangible common shareholders’ equity to tangible assets of operations is a measure of capital strength that provides additional useful information to investors. The tangible common shareholders’ equity ratio, which excludes goodwill and intangible assets net of deferred tax liabilities, includes changes in investment securities valuations which are reflected in total shareholders’ equity. 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 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 and amortization of intangible assets. 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 Quarterly Financial Trends revenue measures also exclude the gain on the sale of our equity investment in Wing Hang and the gain on the sale of our One Wall Street building. Expense measures also exclude the charge related to investment management funds, net of incentives.

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.

18

THE BANK OF NEW YORK MELLON CORPORATION
PRE-TAX OPERATING MARGIN RATIO RECONCILIATION
	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			2nd Qtr
Income before income taxes – GAAP	$	926		$	811		$	1,662		$	164		$	1,090		$	1,165		$	1,109		$	871		$	1,091		$	1,165
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds	20			17			23			24			31			37			(5		)	5			(7		)	4
Gain on the sale of our equity investment in Wing Hang	—			—			490			—			—			—			—			—			—			—
Gain on the sale of our One Wall Street building	—			—			346			—			—			—			—			—			—			—
Add: Amortization of intangible assets	75			75			75			73			66			65			66			64			57			59
M&I, litigation and restructuring charges (recoveries)	(12		)	122			220			800			(3		)	59			11			18			17			7
Impairment charge related to a prior court decision regarding Sentinel	—			—			—			—			—			—			—			170			—			—
Charge (recovery) related to investment management funds, net of incentives	(5		)	109			—			—			—			—			—			—			—			—
Income before income taxes, as adjusted – Non-GAAP (a)	$	964		$	1,100		$	1,098		$	1,013		$	1,122		$	1,252		$	1,191		$	1,118		$	1,172		$	1,227
Fee and other revenue – GAAP	$	2,883		$	2,980		$	3,851		$	2,935		$	3,012		$	3,067		$	3,053		$	2,950		$	2,970		$	2,999
Income (loss) from consolidated investment management funds – GAAP	36			46			39			42			52			40			(22		)	16			(6		)	10
Net interest revenue – GAAP	728			719			721			712			728			779			759			760			766			767
Total revenue – GAAP	3,647			3,745			4,611			3,689			3,792			3,886			3,790			3,726			3,730			3,776
Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds	20			17			23			24			31			37			(5		)	5			(7		)	4
Gain on the sale of our equity investment in Wing Hang	—			—			490			—			—			—			—			—			—			—
Gain on the sale of our One Wall Street building	—			—			346			—			—			—			—			—			—			—
Total revenue, as adjusted – Non-GAAP (a)	$	3,627		$	3,728		$	3,752		$	3,665		$	3,761		$	3,849		$	3,795		$	3,721		$	3,737		$	3,772
Pre-tax operating margin (b)(c)	25		%	22		%	36		%	4		%	29		%	30		%	29		%	23		%	29		%	31		%
Pre-tax operating margin – Non-GAAP (a)(b)(c)	27		%	30		%	29		%	28		%	30		%	33		%	31		%	30		%	31		%	33		%
(a) Non-GAAP information for all periods presented excludes net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets and M&I, litigation and restructuring charges. Non-GAAP information for 4Q15 excludes the impairment charge related to a prior court decision regarding Sentinel. Non-GAAP information for 3Q15 also excludes the gain on the sale of our equity investment in Wing Hang and the gain on the sale of our One Wall Street building. Non-GAAP information for 1Q14 and 2Q14 also excludes charges (recoveries) related to investment management funds, net of incentives.
(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, beginning with 2015, these investments would increase revenue and income before taxes by $64 million for 1Q15, $52 million for 2Q15, $53 million for 3Q15,$73 million for 4Q15, $77 million for 1Q16, and $74 million for 2Q16, and would increase our pre-tax operating margin by approximately 1.2% for 1Q15, 0.9% for 2Q15, 1.0% for 3Q15, 1.5% for 4Q15, 1.4% for 1Q16, and 1.3% for 2Q16.

19

THE BANK OF NEW YORK MELLON CORPORATION
RETURN ON TANGIBLE COMMON EQUITY RECONCILIATION
	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			2nd Qtr
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	661		$	554		$	1,070		$	209		$	766		$	830		$	820		$	637		$	804		$	825
Add:  Amortization of intangible assets	75			75			75			73			66			65			66			64			57			59
Less: Tax impact of amortization of intangible assets	26			26			26			26			23			21			23			22			20			21
Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets – Non-GAAP	$	710		$	603		$	1,119		$	256		$	809		$	874		$	863		$	679		$	841		$	863
Average common shareholders’ equity	$	36,289		$	36,565		$	36,751		$	36,859		$	35,486		$	35,516		$	35,588		$	35,664		$	35,252		$	35,826
Less: Average goodwill	18,072			18,149			18,109			17,924			17,756			17,752			17,742			17,673			17,562			17,622
Average intangible assets	4,422			4,354			4,274			4,174			4,088			4,031			3,962			3,887			3,812			3,789
Add: Deferred tax liability – tax deductible goodwill (a)	1,306			1,338			1,317			1,340			1,362			1,351			1,379			1,401			1,428			1,452
Deferred tax liability – intangible assets (a)	1,259			1,247			1,230			1,216			1,200			1,179			1,164			1,148			1,140			1,129
Average tangible common shareholders’ equity – Non-GAAP	16,360			16,647			16,915			17,317			16,204			16,263			16,427			16,653			16,446			16,996
Return on tangible common equity – Non-GAAP (b)	17.6		%	14.5		%	26.2		%	5.9		%	20.3		%	21.5		%	20.8		%	16.2		%	20.6		%	20.4		%
(a) Deferred tax liabilities are based on fully phased-in Basel III rules.
(b) Annualized.

20

THE BANK OF NEW YORK MELLON CORPORATION
NONINTEREST EXPENSE RECONCILIATION
	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		2nd Qtr
Total noninterest expense -GAAP	$	2,739		$	2,946	$	2,968	$	3,524	$	2,700		$	2,727	$	2,680	$	2,692	$	2,629	$	2,620
Less: Amortization of intangible assets	75			75		75		73		66			65		66		64		57		59
M&I, litigation and restructuring charges (recoveries)	(12		)	122		220		800		(3		)	59		11		18		17		7
Charge (recovery) related to investment management funds, net of incentives	(5		)	109		—		—		—			—		—		—		—		—
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	$	2,554

21

THE BANK OF NEW YORK MELLON CORPORATION
PRE-TAX OPERATING MARGIN - INVESTMENT MANAGEMENT
	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			2nd Qtr
Income before income taxes – GAAP	$	247		$	167		$	243		$	235		$	263		$	259		$	236		$	290		$	217		$	234
Add: Amortization of intangible assets	30			30			30			28			24			25			24			24			19			19
Provision for credit losses	(1		)	1			—			—			(1		)	3			1			(4		)	(1		)	1
Money market fee waivers	33			30			29			34			33			29			28			23			9			11
Charge (recovery) related to investment management funds, net of incentives	(5		)	109			—			—			—			—			—			—			—			—
Income before income taxes excluding amortization of intangible assets, provision for credit losses and money market fee waivers and the charge (recovery) related to investment management funds, net of incentives – Non-GAAP	304			337			302			297			319			316			289			333			244			265
Total revenue – GAAP	951			1,018			985			977			994			987			926			999			895			938
Less: Distribution and servicing expense	106			111			105			101			97			95			94			92			100			102
Money market fee waivers benefiting distribution and servicing expense	37			37			36			39			38			37			35			27			23			15
Add: Money market fee waivers impacting total revenue	70			67			65			73			71			66			63			50			32			26
Total revenue net of distribution and servicing expense and excluding money market fee waivers – Non-GAAP	878			937			909			910			930			921			860			930			804			847
Pre-tax operating margin (a)	26		%	16		%	25		%	24		%	26		%	26		%	25		%	29		%	24		%	25		%
Pre-tax operating margin excluding amortization of intangible assets, provision for credit losses, money market fee waivers and net of distribution and servicing expense and the charge (recovery) related to investment management funds, net of incentives – Non-GAAP (a)	35		%	36		%	33		%	33		%	34		%	34		%	34		%	36		%	30		%	31		%
(a) Income before taxes divided by total revenue.

22

EX-99.3

BNY Mellon Second Quarter 2016 Financial Highlights July 21, 2016

2 Second 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: expense control, capital plans, strategic priorities, financial goals, client experience, driving revenue growth, the business improvement process, the potential effects of adopting a single point of entry resolution strategy, 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 July 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 June 30, 2016, included as an exhibit to our Current Report on Form 8-K filed on July 21, 2016 (the “Earnings Release”), available at www.bnymellon.com/investorrelations.

3 Second Quarter 2016 – Financial Highlights Summary Financial Results for Second Quarter 2016 - GAAP Growth vs. $ in millions, except per share data 2Q16 1Q16 2Q15 1Q16 2Q15 Revenue $ 3,776 $ 3,730 $ 3,886 1 % (3)% Expenses $ 2,620 $ 2,629 $ 2,727 — % (4)% Operating leverage1 157 bps 109 bps Income before income taxes $ 1,165 $ 1,091 $ 1,165 7 % — % Pre-tax operating margin 31% 29% 30% EPS $ 0.75 $ 0.73 $ 0.73 3 % 3 % 1 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 operating leverage was based on a decrease in total revenue, of 283 basis points, and a decrease in total noninterest expense, of 392 basis points. The sequential operating leverage was based on an increase in total revenue, of 123 basis points, and a decrease in total noninterest expense, of 34 basis points. bps - basis points Note: Provision for credit losses was a credit of $9 million in 2Q16 versus a credit of $6 million in 2Q15 and a provision of $10 million in 1Q16.

4 Second Quarter 2016 – Financial Highlights Summary Financial Results for Second Quarter 2016 (Non-GAAP)1 Growth vs. $ in millions, except per share data 2Q16 1Q16 2Q15 1Q16 2Q15 Revenue $ 3,772 $ 3,737 $ 3,849 1 % (2)% Expenses $ 2,554 $ 2,555 $ 2,603 — % (2)% Operating leverage2 98 bps (12) bps Income before income taxes $ 1,227 $ 1,172 $ 1,252 5 % (2)% Pre-tax operating margin 33% 31% 33% EPS $ 0.76 $ 0.74 $ 0.77 3 % (1)% Return on Tangible Common Equity 20.4% 20.6% 21.5% Adjusted Return on Tangible Common Equity 20.5% 20.8% 22.5% 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 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 operating leverage (Non-GAAP) was based on a decrease in total revenue, as adjusted (Non-GAAP), of 200 basis points, and a decrease in total noninterest expense, as adjusted (Non-GAAP), of 188 basis points. The sequential operating leverage (Non-GAAP) was based on an increase in total revenue, as adjusted (Non-GAAP), of 94 basis points, and a decrease in total noninterest expense, as adjusted (Non-GAAP), of 4 basis points. bps - basis points

5 Second Quarter 2016 – Financial Highlights Second Quarter Financial Highlights (comparisons are 2Q16 versus 2Q15) • Earnings per common share of $0.76 on an adjusted basis1 • Earnings per common share (1%) on an adjusted basis1 • Continued focus on structural cost reduction and expense control • Total noninterest expense (2%) on an adjusted basis1 • Total revenue of $3.78 billion • Fee and other revenue (2%) • Net interest revenue (2%) • Executing on capital plan and returning value to common shareholders • Repurchased 12.5 million common shares for $509 million • Return on common equity of 9%; Adjusted return on tangible common equity of 21%1 • Board approved previously announced common stock dividend increase of 12% and the repurchase of up to approximately $2.7 billion of common stock 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.

6 Second Quarter 2016 – Financial Highlights 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

7 Second Quarter 2016 – Financial Highlights Second Quarter 2016 Key Performance Drivers (comparisons are 2Q16 versus 2Q15) • Earnings per common share of $0.76, (1%) on an adjusted basis1 (Non-GAAP), driven by a challenging revenue environment partially offset by continued execution of our Business Improvement Process • Investment management and performance fees (5%) driven by net outflows in 2015, the unfavorable impact of a stronger U.S. dollar and lower performance fees, offset by higher money market fees and the impact of the April 2016 acquisition of the assets of Atherton Lane Advisors, LLC (“Atherton”). Investment management and performance fees (4%) on a constant currency basis (Non-GAAP)1 • Investment services fees increased slightly reflecting higher money market fees and net new business, offset by lower market values • Market-sensitive revenue driven by securities lending revenue growth • Foreign Exchange (8%) reflecting lower volumes, offset by the positive net impact of foreign currency hedging activities • Securities Lending +6% driven by increased spreads • Net Interest Revenue lower by $12 million reflecting the negative impact of interest rate hedging activities and higher premium amortization adjustments related to the decrease in interest rates • Provision for credit losses was a credit of $9 million in 2Q16 versus a credit of $6 million in 2Q15 • Noninterest expense on an adjusted basis1 (Non-GAAP) (2%) 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 net occupancy and distribution and servicing expenses • Effective tax rate of 24.9% 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.

8 Second Quarter 2016 – Financial Highlights Fee and Other Revenue (Consolidated) Growth vs. Year-over-Year Drivers ($ in millions) 2Q16 1Q16 2Q15 Investment services fees: Asset ServicingŸ Net new business and higher money market fees, partially 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 Lower Depositary Receipts revenue. Issuer Services fees also reflect higher money market fees in Corporate Trust 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 Outflows in 2015, the unfavorable impact of a stronger U.S. dollar and lower performance fees, partially offset by higher money market fees and the impact of the Atherton acquisition. On a constant currency basis (Non-GAAP)2, investment management and performance fees (4%) Foreign Exchange & Other Trading Revenue Ÿ FX revenue of $166MM - Decreased, reflecting lower volumes, partially offset by the positive net impact of foreign currency hedging activities. Other trading revenue of $16MM - Increased, reflecting higher fixed income trading. Losses on hedging activities in the Investment Management businesses were offset by the positive impact of interest rate hedging Distribution and Servicing Ÿ Higher money market fees, partially offset by fees paid to introducing brokers Investment and other income Ÿ Lower lease-related gains, partially offset by foreign currency remeasurement gains Asset servicing1 $ 1,069 3% 1 % Clearing services 350 — 1 Issuer services 234 (4) — Treasury services 139 6 (3) Total investment services fees 1,792 2 — Investment management and performance fees 830 2 (5) Foreign exchange and other trading revenue 182 4 (3) Financing-related fees 57 6 (2) Distribution and servicing 43 10 10 Total fee revenue excluding investment and other income2 2,904 2 (1) Investment and other income 74 (30) (29) Total fee revenue 2,978 1 (2) Net securities gains 21 N/M N/M Total fee and other revenue $ 2,999 1% (2)% 1 Asset servicing fees include securities lending revenue of $52 million in 2Q16, $49 million in 2Q15, and $50 million in 1Q16. 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 Second Quarter 2016 – Financial Highlights Investment Management Metrics Change in Assets Under Management (AUM)1 Growth vs. $ in billions 2Q16 LTM 2Q16 1Q16 2Q15 Beginning balance of AUM $1,639 $1,700 Net inflows (outflows): Long-Term: Equity (2) (18) Fixed income (2) (4) Liability-driven investments2 15 51 Alternative investments 1 5 Total long-term active inflows (outflows) 12 34 Index (17) (54) Total long-term (outflows) inflows (5) (20) Short-term: Cash 4 (13) Total net (outflows) (1) (33) Net market impact/other 71 101 Net currency impact (47) (106) Acquisition 2 2 Ending balance of AUM3 $1,664 $1,664 2% (2)% Average balances: Growth vs. $ in millions 2Q16 1Q16 2Q15 Average loans $ 14,795 4 % 20% Average deposits $ 15,518 (3)% 6% 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 Second Quarter 2016 – Financial Highlights Investment Services Metrics Growth vs. 2Q16 1Q16 2Q15 Assets under custody and/or administration at period end (trillions)1,2 $ 29.5 1 % 3 % Estimated new business wins (AUC/A) (billions)2 $ 167 Market value of securities on loan at period end (billions)3 $ 278 (7)% (2)% Average loans (millions) $ 43,786 (3)% (4)% Average deposits (millions) $ 221,998 3 % (7)% Broker-Dealer Average tri-party repo balances (billions) 2,108 — % (3)% Clearing Services Average active clearing accounts (U.S. platform) (thousands) 5,946 — % (2)% Average long-term mutual fund assets (U.S. platform) (millions) $ 431,150 4 % (8)% Depositary Receipts Number of sponsored programs 1,112 (2)% (8)% 1 Includes the AUC/A of CIBC Mellon of $1.1 trillion at June 30, 2016, March 31, 2016 and June 30, 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 June 30, 2016 and March 31, 2016 and $68 billion at June 30, 2015.

11 Second Quarter 2016 – Financial Highlights Net Interest Revenue Growth vs. Year-over-Year Drivers ($ in millions) 2Q16 1Q16 2Q15 Net interest revenue (non-FTE) $ 767 —% (2)% Net Interest Revenue Ÿ The negative impact of interest rate hedging activities and higher premium amortization adjustments related to the decrease in interest rates Net interest revenue (FTE) 780 — (2) Net interest margin (FTE) 0.98% (3) bps (2) bps Selected Average Balances: Cash/interbank investments $ 137,995 8% 10 % Trading account securities 2,152 (35) (34) Securities 118,002 — (8) Loans 60,284 (1) (1) Interest-earning assets 318,433 2 — Interest-bearing deposits 165,122 2 (3) Noninterest-bearing deposits 84,033 1 (1) Note: Please reference earnings release for quarter-over-quarter variance explanations. FTE – fully taxable equivalent bps – basis points

12 Second Quarter 2016 – Financial Highlights Noninterest Expense Growth vs. Year-over-Year Drivers ($ in millions) 2Q16 1Q16 2Q15 Staff $ 1,412 (3)% (2)% Ÿ Lower expenses in nearly all categories, primarily driven by the favorable impact of a stronger U.S. dollar, lower litigation, staff and legal expenses and the benefit of the Business Improvement Process, partially offset by higher net occupancy and distribution and servicing expenses. Ÿ Staff expense decreased primarily reflecting lower incentive expense. The increase in net occupancy expense reflects the cost to exit leases consistent with our global real estate strategy. The savings generated by the Business Improvement Process primarily reflect the benefits of our technology insourcing strategy and the benefit of renegotiating vendor contracts Professional, legal and other purchased services 290 4 (3) Software and equipment 223 2 (2) Net occupancy 152 7 2 Distribution and servicing 102 2 6 Sub-custodian 70 19 (7) Business development 65 14 (10) Other 240 — (4) Amortization of intangible assets 59 4 (9) M&I, litigation and restructuring charges 7 N/M N/M Total noninterest expense – GAAP $ 2,620 — % (4)% Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges – Non-GAAP1 $ 2,554 — % (2)% Full-time employees 52,200 100 1,500 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: Please reference earnings release for quarter-over-quarter variance explanations. N/M - not meaningful

13 Second Quarter 2016 – Financial Highlights Capital Ratios Highlights 6/30/16 3/31/16 12/31/15 Consolidated regulatory capital ratios:1 Ÿ Repurchased 12.5 million common shares for $509 million in 2Q16 Ÿ In 2Q16, declared a quarterly dividend of $0.17 per common share Ÿ Compliant with fully phased-in U.S. Liquidity Coverage Ratio (LCR)5 Standardized CET1 ratio 11.8% 11.8% 11.5% Tier 1 capital ratio 13.3 13.5 13.1 Total (Tier 1 plus Tier 2) capital ratio 13.7 13.9 13.5 Advanced CET1 ratio 10.2 10.6 10.8 Tier 1 capital ratio 11.5 12.0 12.3 Total (Tier 1 plus Tier 2) capital ratio 11.7 12.3 12.5 Leverage capital ratio2 5.8 5.9 6.0 Supplementary leverage ratio ("SLR") 5.3 5.4 5.4 Selected regulatory capital ratios - fully phased-in - Non-GAAP:1,3,4 CET1 ratio: Standardized approach 10.9% 11.0% 10.2% Advanced approach 9.5 9.8 9.5 SLR 5.0% 5.1% 4.9% Note: See corresponding footnotes on following slide.

14 Second Quarter 2016 – Financial Highlights Capital Ratio Footnotes 1 June 30, 2016 regulatory capital ratios are preliminary. See the “Capital Ratios” section in the earnings release for additional detail. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under application capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches. 2 The leverage capital ratios are based on Tier 1 capital, as phased-in and quarterly average total assets. 3 Please reference slide 23 & 24. See the “Capital Ratios” section in the earnings release for additional detail. 4 Estimated. 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 June 30, 2016 based on our understanding of the U.S. LCR rules. Our consolidated high-quality liquid assets (“HQLA”) before haircuts, totaled $191 billion at June 30, 2016, compared with $202 billion at March 31, 2016 and $218 billion at Dec. 31, 2015.

16 Second Quarter 2016 – Financial Highlights Strategic Priorities 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 • Funding strategic growth investments Being a Strong, Safe, Trusted Counterparty • Strong liquidity and resilient capital positions • Non-objection to 2016 capital plan and annual stress test • Excellent balance sheet credit quality Generating Excess Capital and Deploying Capital Effectively • Executing on capital plan and returning value to shareholders • $694MM returned in common share repurchases and dividends in 2Q16 • Board approved previously announced common stock dividend increase of 12% and the repurchase of up to approximately $2.7 billion of common stock Attracting and Retaining Top Talent • Building robust leadership pipeline for the future• Improving talent, succession and development planning

17 Second Quarter 2016 – Financial Highlights Business Improvement Process COMPLETED • Expanded Wealth Management sales force, driving new revenue opportunities backed by a strong pipeline • Established Client Pricing Strategy group to develop, analyze and measure service delivery costs to better align costs with client pricing • Created dedicated technology solutions unit to drive technology- related revenue growth • Extended private banking solutions to Pershing clients • Created direct lending capability through investment management ONGOING • Strategic Platform Investments (Real Estate / Private Equity Administration, Asset and Hedge Fund Manager Middle-Office, Global Wealth Platforms) • Enhancing collateral management systems and foreign exchange (FX) platforms • Strengthening distribution of investment management strategies • Growing Dreyfus cash management solutions with Pershing and custody clients • Delivering integrated bank/brokerage custody platform for RIAs COMPLETED • Exiting derivatives, sales and trading business • Sold Meriten, our German-based boutique • Realigned our UK transfer agency operating model to improve profitability • Exited the derivatives clearing business • Streamlined our APAC Investment Management operations • Developed tools to reduce costs and improve the delivery of market data ONGOING • Simplifying and automating our end-to-end global processing • Optimizing and streamlining our technology infrastructure; lowering annual infrastructure investment • Reducing our real estate footprint; balancing our workforce globally ◦ Relocated more than 155 positions in 2Q16 • Analyzing and measuring our service delivery costs to better align our costs with client pricing • Implementing Bring Your Own Device (BYOD) policy Business Excellence Continuous Process Improvement Corporate Services Client Technology Solutions Excellence Business Partner Activity Process Revenue Initiatives Expense Initiatives

18 Second Quarter 2016 – Financial Highlights Total Shareholder Return and EPS Reconciliation Total Shareholder Return YTD 6/30/16 2015 2014 BNY Mellon (4.9)% 3.3% 18.3% 11-Member Peer Group Median (10.6)% (2.3)% 13.8% S&P 500 Financials (3.1)% (1.6)% 15.2% S&P 500 Index 3.8% 1.4% 13.7% Earnings per share Growth vs. 2Q16 1Q16 2Q15 1Q16 2Q15 GAAP results $ 0.75 $ 0.73 $ 0.73 Add: M&I, litigation and restructuring charges — 0.01 0.03 Non-GAAP results $ 0.76 1 $ 0.74 $ 0.77 1 3% (1)% 1 Does not foot due to rounding.

19 Second Quarter 2016 – Financial Highlights Investment Management . Growth vs. ($ in millions) 2Q16 1Q16 2Q15 Investment management and performance fees $ 817 3% (4)% Distribution and servicing 49 7 29 Other1 (10) N/M N/M Net interest revenue 82 (1) 6 Total Revenue 938 5% (5)% Provision for credit losses 1 N/M N/M Noninterest expense (ex. amortization of intangible assets) 684 4% (2)% Income before taxes (ex. amortization of intangible assets) 253 7% (11)% Amortization of intangible assets 19 —% (24)% Income before taxes $ 234 8% (10)% Pre-tax operating margin 25% 57 bps (138) bps Adjusted pre-tax operating margin2,3 31% 88 bps (295) 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 25 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

20 Second Quarter 2016 – Financial Highlights Investment Services Growth vs. ($ in millions) 2Q16 1Q16 2Q15 Investment services fees: Asset servicing $ 1,043 3% —% Clearing services 350 1 1 Issuer services 233 (5) — Treasury services 137 6 (3) Total investment services fees 1,763 1 — Foreign exchange and other trading revenue 161 (4) (11) Other1 130 4 11 Net interest revenue 690 2 3 Total revenue 2,744 1% 1% Provision for credit losses (7) N/M N/M Noninterest expense (ex. amortization of intangible assets) $ 1,819 3 (3) Income before taxes (ex. amortization of intangible assets) 932 1% 10% Amortization of intangible assets 40 5 — Income before taxes $ 892 1% 11% Pre-tax operating margin 33% (20) bps +299 bps Pre-tax operating margin (ex. provision for credit losses and amortization of intangible assets) 34% (97) bps +246 bps 1 Other revenue includes investment management fees, financing-related fees, distribution and servicing revenue and investment and other income. N/M - not meaningful bps – basis points

21 Second Quarter 2016 – Financial Highlights Expense, Pre-Tax Operating Margin & Operating Leverage - Non-GAAP Reconciliations 2Q16 1Q16 2Q15 QoQ Operating Leverage YoY Operating Leverage($ in millions) Total revenue – GAAP $ 3,776 $ 3,730 $ 3,886 1.23 % (2.83)% Less: Net income (loss) attributable to noncontrolling interests of consolidated investment management funds 4 (7) 37 Total revenue, as adjusted – Non-GAAP2 $ 3,772 $ 3,737 $ 3,849 0.94 % (2.00)% Total noninterest expense – GAAP $ 2,620 $ 2,629 $ 2,727 (0.34)% (3.92)% Less: Amortization of intangible assets 59 57 65 M&I, litigation and restructuring charges 7 17 59 Total noninterest expense excluding amortization of intangible assets and M&I, litigation and restructuring charges – Non-GAAP2 $ 2,554 $ 2,555 $ 2,603 (0.04)% (1.88)% Less: Provision for credit losses (9) 10 (6) Operating Leverage Income before income taxes, as adjusted – Non-GAAP2 $ 1,227 $ 1,172 $ 1,252 +157 bps +109 bps Operating Leverage (Non-GAAP) Pre-tax operating margin – Non-GAAP1,2,3 33% 31% 33% +98 bps (12) bps 1 Income before taxes divided by total revenue. 2 Non-GAAP information for all periods presented excludes net income (loss) attributable to noncontrolling interests of consolidated investment management funds, amortization of intangible assets and M&I, litigation and restructuring charges. Non-GAAP information for 4Q15 excludes the impairment charge related to a court decision regarding Sentinel. 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 $74 million for 2Q16, $77 million for 1Q16, $73 million for 4Q15, $53 million for 3Q15 and $52 million for 2Q15 and would increase our pre-tax operating margin by approximately 1.3% for 2Q16, 1.4% for 1Q16, 1.5% for 4Q15, 1.0% for 3Q15 and 0.9% for 2Q15. bps - basis points

22 Second Quarter 2016 – Financial Highlights Return on Tangible Common Equity Reconciliation 2Q16 1Q16 2Q15 ($ in millions) Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $ 825 $ 804 $ 830 Add: Amortization of intangible assets, net of tax 59 57 65 Less: Tax impact of amortization of intangible assets 21 20 21 Net income applicable to common shareholders of The Bank of New York Mellon Corporation excluding amortization of intangible assets – Non-GAAP 863 841 874 Add: M&I, litigation and restructuring charges 7 17 59 Less: Tax impact of M&I, litigation and restructuring charges 2 6 21 Net income applicable to common shareholders of The Bank of New York Mellon Corporation, as adjusted – Non-GAAP2 $ 868 $ 852 $ 912 Average common shareholders’ equity $ 35,826 $ 35,252 $ 35,516 Less: Average goodwill 17,622 17,562 17,752 Average intangible assets 3,789 3,812 4,031 Add: Deferred tax liability – tax deductible goodwill1 1,452 1,428 1,351 Deferred tax liability – intangible assets1 1,129 1,140 1,179 Average tangible common shareholders’ equity - Non-GAAP $ 16,996 $ 16,446 $ 16,263 Return on tangible common equity – Non-GAAP3 20.4% 20.6% 21.5% Return on tangible common equity – Non-GAAP adjusted2,3 20.5% 20.8% 22.5% 1 Deferred tax liabilities are based on fully phased-in Basel III rules. 2 Non-GAAP information for all periods presented excludes amortization of intangible assets, net of tax, and M&I, litigation and restructuring charges. Non-GAAP information for 4Q15 also excludes the impairment charge related to a court decision regarding Sentinel. 3 Annualized.

23 Second Quarter 2016 – Financial Highlights Basel III Capital Components & Ratios ($ in millions) 6/30/161 3/31/16 12/31/15 Transitional basis2 Fully Phased-in Non-GAAP3 Transitional basis 2 Fully Phased-in Non- GAAP3 Transitional basis 2 Fully Phased-in Non- GAAP3 CET1: Common shareholders’ equity $ 36,282 $ 36,007 $ 36,229 $ 35,907 $ 36,067 $ 35,485 Goodwill and intangible assets (17,614) (18,658) (17,760) (18,817) (17,295) (18,911) Net pension fund assets (53) (88) (54) (89) (46) (116) Equity method investments (322) (356) (324) (359) (296) (347) Deferred tax assets (14) (23) (14) (23) (8) (20) Other (1) (4) (8) (12) (5) (9) Total CET1 18,278 16,878 18,069 16,607 18,417 16,082 Other Tier 1 capital: Preferred stock 2,552 2,552 2,552 2,552 2,552 2,552 Trust preferred securities — — — — 74 — Deferred tax assets (9) — (9) — (12) — Net pension fund assets (35) — (36) — (70) — Other (113) (109) (11) (8) (25) (22) Total Tier 1 capital 20,673 19,321 20,565 19,151 20,936 18,612 Tier 2 capital: Trust preferred securities 161 — 173 — 222 — Subordinated debt 149 149 149 149 149 149 Allowance for credit losses 280 280 287 287 275 275 Other (6) (7) (2) (1) (12) (12) Total Tier 2 capital - Standardized Approach 584 422 607 435 634 412 Excess of expected credit losses 53 53 46 46 37 37 Less: Allowance for credit losses 280 280 287 287 275 275 Total Tier 2 capital - Advanced Approach $ 357 $ 195 $ 366 $ 194 $ 396 $ 174 Total capital: Standardized Approach $ 21,257 $ 19,743 $ 21,172 $ 19,586 $ 21,570 $ 19,024 Advanced Approach $ 21,030 $ 19,516 $ 20,931 $ 19,345 $ 21,332 $ 18,786 Risk-weighted assets: Standardized Approach $ 155,448 $ 154,182 $ 152,673 $ 151,388 $ 159,893 $ 158,015 Advanced Approach $ 179,457 $ 178,114 $ 170,709 $ 169,347 $ 170,384 $ 168,509 Standardized Approach: CET1 ratio 11.8% 10.9% 11.8% 11.0% 11.5% 10.2% Tier 1 capital ratio 13.3 12.5 13.5 12.7 13.1 11.8 Total (Tier 1 plus Tier 2) capital ratio 13.7 12.8 13.9 12.9 13.5 12.0 Advanced Approach: CET1 ratio 10.2% 9.5% 10.6% 9.8% 10.8% 9.5% Tier 1 capital ratio 11.5 10.8 12.0 11.3 12.3 11.0 Total (Tier 1 plus Tier 2) capital ratio 11.7 11.0 12.3 11.4 12.5 11.1 1 Preliminary. 2 Reflects transitional adjustments to CET1, Tier 1 capital and Tier 2 capital required under the U.S. capital rules. 3 Estimated.

24 Second Quarter 2016 – Financial Highlights Estimated Fully Phased-In SLR ($ in millions) 6/30/16 1 3/31/16 12/31/15 Transitional basis Fully phased-in (Non-GAAP)2 Transitional basis Fully phased-in (Non-GAAP)2 Transitional basis Fully phased-in (Non-GAAP)2 Consolidated: Tier 1 capital $ 20,673 $ 19,321 $ 20,565 $ 19,151 $ 20,936 $ 18,612 Total leverage exposure: Quarterly average total assets $ 374,220 $ 374,220 $ 364,554 $ 364,554 $ 368,590 $ 368,590 Less: Amounts deducted from Tier 1 capital 18,156 19,233 18,160 19,300 17,650 19,403 Total on-balance sheet assets 356,064 354,987 346,394 345,254 350,940 349,187 Off-balance sheet exposures: Potential future exposure for derivatives contracts (plus certain other items) 6,125 6,125 5,838 5,838 7,158 7,158 Repo-style transaction exposures 402 402 403 403 440 440 Credit-equivalent amount of other off-balance sheet exposures (less SLR exclusions) 24,122 24,122 24,950 24,950 26,025 26,025 Total off-balance sheet exposures 30,649 30,649 31,191 31,191 33,623 33,623 Total leverage exposure $ 386,713 $ 385,636 $ 377,585 $ 376,445 $ 384,563 $ 382,810 SLR - Consolidated3 5.3% 5.0% 5.4% 5.1% 5.4% 4.9% The Bank of New York Mellon, our largest bank subsidiary Tier 1 capital $ 18,042 $ 16,942 $ 17,322 $ 16,167 $ 16,814 $ 15,142 Total leverage exposure $ 322,879 $ 322,559 $ 313,331 $ 312,988 $ 316,812 $ 316,270 SLR - The Bank of New York Mellon3 5.6% 5.3% 5.5% 5.2% 5.3% 4.8% 1 June 30, 2016 information is preliminary. 2 Estimated 3 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 as a required minimum ratio, 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. The insured depository institution subsidiaries of the U.S. G-SIBs, including those of BNY Mellon, must maintain a 6% SLR to be considered “well capitalized.”

25 Second Quarter 2016 – Financial Highlights Investment Management - Non-GAAP Reconciliations Pre-tax operating margin 2Q16 1Q16 2Q15($ in millions) Income before income taxes – GAAP $ 234 $ 217 $ 259 Add: Amortization of intangible assets 19 19 25 Provision for credit losses 1 (1) 3 Money market fee waivers 11 9 29 Income before income taxes excluding amortization of intangible assets, provision for credit losses and money market fee waivers – Non-GAAP $ 265 $ 244 $ 316 Total revenue – GAAP $ 938 $ 895 $ 987 Less: Distribution and servicing expense 102 100 95 Money market fee waivers benefiting distribution and servicing expense 15 23 37 Add: Money market fee waivers impacting total revenue 26 32 66 Total revenue net of distribution and servicing expense and excluding money market fee waivers - Non-GAAP $ 847 $ 804 $ 921 Pre-tax operating margin1 25% 24% 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 31% 30% 34% 1 Income before taxes divided by total revenue. Investment management and performance fees - Consolidated Growth vs. ($ in millions) 2Q16 2Q15 2Q15 Investment management and performance fees - GAAP $ 830 $ 878 (5)% Impact of changes in foreign currency exchange rates — (14) Investment management and performance fees, as adjusted - Non-GAAP $ 830 $ 864 (4)% Investment management fees - Investment Management business Growth vs. ($ in millions) 2Q16 2Q15 2Q15 Investment management fees - GAAP $ 808 $ 835 (3)% Impact of changes in foreign currency exchange rates — (14) Investment management fees, as adjusted - Non-GAAP $ 808 $ 821 (2)%