The Bank of New York Mellon Corporation

Financial Supplement

Second Quarter 2024

Table of Contents
Consolidated Results		Page
Consolidated Financial Highlights		3
Condensed Consolidated Income Statement		4
Condensed Consolidated Balance Sheet		5
Fee and Other Revenue		6
Average Balances and Interest Rates		7
Capital and Liquidity		8
Business Segment Results
Securities Services Business Segment		9
Market and Wealth Services Business Segment		11
Investment and Wealth Management Business Segment		13
AUM by Product Type, Changes in AUM and Wealth Management Client Assets		14
Other Segment		15
Other
Securities Portfolio		16
Allowance for Credit Losses and Nonperforming Assets		17
Supplemental Information
Explanation of GAAP and Non-GAAP Financial Measures		18

THE BANK OF NEW YORK MELLON CORPORATION
CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per common share amounts, or unless otherwise noted)																2Q24 vs.										YTD24 vs.
	2Q24			1Q24			4Q23			3Q23			2Q23			1Q24		2Q23		YTD24			YTD23			YTD23
Selected income statement data
Fee and other revenue	$	3,567		$	3,487		$	3,257		$	3,404		$	3,404		2	%	5	%	$	7,054		$	6,691		5	%
Net interest income	1,030			1,040			1,101			1,016			1,100			(1)		(6)		2,070			2,228			(7)
Total revenue	4,597			4,527			4,358			4,420			4,504			2		2		9,124			8,919			2
Provision for credit losses	—			27			84			3			5			N/M		N/M		27			32			N/M
Noninterest expense	3,070			3,176			3,995			3,089			3,111			(3)		(1)		6,246			6,211			1
Income before income taxes	1,527			1,324			279			1,328			1,388			15		10		2,851			2,676			7
Provision for income taxes	357			297			73			285			315			20		13		654			621			5
Net income	$	1,170		$	1,027		$	206		$	1,043		$	1,073		14	%	9	%	$	2,197		$	2,055		7	%
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	1,143		$	953		$	162		$	958		$	1,036		20	%	10	%	$	2,096		$	1,947		8	%
Diluted earnings per common share	$	1.52		$	1.25		$	0.21		$	1.23		$	1.31		22	%	16	%	$	2.77		$	2.44		14	%
Average common shares and equivalents outstanding – diluted (in thousands)	751,596			762,268			772,102			781,781			790,725			(1)	%	(5)	%	756,870			799,157			(5)	%
Financial ratios(Returns are annualized)
Pre-tax operating margin	33		%	29		%	6		%	30		%	31		%					31		%	30		%
Return on common equity	12.7		%	10.7		%	1.8		%	10.6		%	11.7		%					11.7		%	11.0		%
Return on tangible common equity – Non-GAAP (a)	24.6		%	20.7		%	3.6		%	20.6		%	22.8		%					22.7		%	21.7		%
Non-U.S. revenue as a percentage of total revenue	36		%	34		%	36		%	36		%	36		%					35		%	35		%
Period end
Assets under custody and/or administration (“AUC/A”) (in trillions) (b)	$	49.5		$	48.8		$	47.8		$	45.7		$	46.9		1	%	6	%
Assets under management (“AUM”) (in trillions)	$	2.05		$	2.02		$	1.97		$	1.82		$	1.91		1	%	7	%
Full-time employees (c)	52,000			52,100			53,400			53,600			53,200			—	%	(2)	%
Book value per common share	$	49.46		$	48.44		$	47.97		$	46.84		$	46.21
Tangible book value per common share – Non-GAAP (a)	$	26.19		$	25.44		$	25.25		$	24.52		$	24.03
Cash dividends per common share	$	0.42		$	0.42		$	0.42		$	0.42		$	0.37
Common dividend payout ratio	28		%	34		%	202		%	35		%	29		%
Closing stock price per common share	$	59.89		$	57.62		$	52.05		$	42.65		$	44.52
Market capitalization	$	44,196		$	43,089		$	39,524		$	32,801		$	34,671
Common shares outstanding (in thousands)	737,957			747,816			759,344			769,073			778,782
Capital ratios at period end(d)
Common Equity Tier 1 ("CET1") ratio	11.4		%	10.8		%	11.5		%	11.3		%	11.0		%
Tier 1 capital ratio	14.1		%	13.4		%	14.2		%	14.3		%	14.0		%
Total capital ratio	15.0		%	14.3		%	14.9		%	15.2		%	14.8		%
Tier 1 leverage ratio	5.8		%	5.9		%	6.0		%	6.1		%	5.7		%
Supplementary leverage ratio ("SLR")	6.8		%	7.0		%	7.3		%	7.2		%	7.0		%
(a) Non-GAAP information, for all periods presented, excludes goodwill and intangible assets, net of deferred tax liabilities. See "Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 18 for the reconciliation of Non-GAAP measures.
(b) Includes the AUC/A of CIBC Mellon Global Securities Services Company ("CIBC Mellon"), a joint venture with the Canadian Imperial Bank of Commerce, of $1.7 trillion at June 30, 2024, March 31, 2024 and Dec. 31, 2023, $1.5 trillion at Sept. 30, 2023 and $1.6 trillion at June 30, 2023.
(c) Beginning March 31, 2024, the number of full-time employees excludes interns.
(d) Regulatory capital ratios for June 30, 2024 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for June 30, 2024 was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, for March 31, 2024 was the Standardized Approach, and for Dec. 31, 2023, Sept. 30, 2023 and June 30, 2023, was the Advanced Approaches.
N/M – Not meaningful.

3

THE BANK OF NEW YORK MELLON CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENT
(dollars in millions, except per share amounts; common shares in thousands)											2Q24 vs.								YTD24 vs.
	2Q24		1Q24		4Q23		3Q23		2Q23		1Q24		2Q23		YTD24		YTD23		YTD23
Revenue
Investment services fees	$	2,359	$	2,278	$	2,242	$	2,230	$	2,252	4	%	5	%	$	4,637	$	4,371	6	%
Investment management and performance fees	761		776		743		777		762		(2)		—		1,537		1,538		—
Foreign exchange revenue	184		152		143		154		158		21		16		336		334		1
Financing-related fees	53		57		45		45		50		(7)		6		110		102		8
Distribution and servicing fees	41		42		41		39		35		(2)		17		83		68		22
Total fee revenue	3,398		3,305		3,214		3,245		3,257		3		4		6,703		6,413		5
Investment and other revenue	169		182		43		159		147		N/M		N/M		351		278		N/M
Total fee and other revenue	3,567		3,487		3,257		3,404		3,404		2		5		7,054		6,691		5
Net interest income	1,030		1,040		1,101		1,016		1,100		(1)		(6)		2,070		2,228		(7)
Total revenue	4,597		4,527		4,358		4,420		4,504		2		2		9,124		8,919		2
Provision for credit losses	—		27		84		3		5		N/M		N/M		27		32		N/M
Noninterest expense
Staff	1,720		1,857		1,831		1,755		1,718		(7)		—		3,577		3,509		2
Software and equipment	476		475		486		452		450		—		6		951		879		8
Professional, legal and other purchased services	374		349		406		368		378		7		(1)		723		753		(4)
Net occupancy	134		124		162		140		121		8		11		258		240		8
Sub-custodian and clearing	134		119		117		121		119		13		13		253		237		7
Distribution and servicing	88		96		88		87		93		(8)		(5)		184		178		3
Business development	50		36		61		36		47		39		6		86		86		—
Bank assessment charges	(7)		17		670		37		41		N/M		N/M		10		81		N/M
Amortization of intangible assets	13		12		14		15		14		8		(7)		25		28		(11)
Other	88		91		160		78		130		(3)		(32)		179		220		(19)
Total noninterest expense	3,070		3,176		3,995		3,089		3,111		(3)		(1)		6,246		6,211		1
Income before income taxes	1,527		1,324		279		1,328		1,388		15		10		2,851		2,676		7
Provision for income taxes	357		297		73		285		315		20		13		654		621		5
Net income	1,170		1,027		206		1,043		1,073		14		9		2,197		2,055		7
Net (income) loss attributable to noncontrolling interests	(2)		(2)		2		(3)		(1)		N/M		N/M		(4)		(1)		N/M
Preferred stock dividends	(25)		(72)		(46)		(82)		(36)		N/M		N/M		(97)		(107)		N/M
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	1,143	$	953	$	162	$	958	$	1,036	20	%	10	%	$	2,096	$	1,947	8	%
Average common shares and equivalents outstanding: Basic	746,904		756,937		767,146		777,813		787,718		(1)	%	(5)	%	751,961		795,512		(5)	%
Diluted	751,596		762,268		772,102		781,781		790,725		(1)	%	(5)	%	756,870		799,157		(5)	%
Earnings per common share: Basic	$	1.53	$	1.26	$	0.21	$	1.23	$	1.32	21	%	16	%	$	2.79	$	2.45	14	%
Diluted	$	1.52	$	1.25	$	0.21	$	1.23	$	1.31	22	%	16	%	$	2.77	$	2.44	14	%
N/M – Not meaningful.

4

THE BANK OF NEW YORK MELLON CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET
	2024				2023
(in millions)	June 30		March 31		Dec. 31		Sept. 30		June 30
Assets
Cash and due from banks	$	5,311	$	5,305	$	4,922	$	4,904	$	5,720
Interest-bearing deposits with the Federal Reserve and other central banks	116,139		119,197		111,550		107,419		118,908
Interest-bearing deposits with banks	11,488		10,636		12,139		12,999		12,316
Federal funds sold and securities purchased under resale agreements	29,723		29,661		28,900		26,299		35,378
Securities	136,850		138,909		126,395		128,225		134,233
Trading assets	9,609		10,078		10,058		10,699		10,562
Loans	70,642		73,615		66,879		66,290		64,469
Allowance for loan losses	(286)		(322)		(303)		(211)		(191)
Net loans	70,356		73,293		66,576		66,079		64,278
Premises and equipment	3,267		3,136		3,163		3,234		3,241
Accrued interest receivable	1,253		1,343		1,150		1,141		963
Goodwill	16,217		16,228		16,261		16,159		16,246
Intangible assets	2,826		2,839		2,854		2,859		2,881
Other assets	25,500		24,103		25,909		25,035		25,455
Total assets	$	428,539	$	434,728	$	409,877	$	405,052	$	430,181
Liabilities
Deposits	$	304,311	$	309,020	$	283,669	$	277,467	$	292,045
Federal funds purchased and securities sold under repurchase agreements	15,701		15,112		14,507		14,771		21,285
Trading liabilities	3,372		3,100		6,226		7,358		6,319
Payables to customers and broker-dealers	17,569		19,392		18,395		17,441		21,084
Commercial paper	301		—		—		—		—
Other borrowed funds	280		306		479		728		1,371
Accrued taxes and other expenses	4,729		4,395		5,411		5,225		4,986
Other liabilities	10,208		10,245		9,028		11,834		9,635
Long-term debt	30,947		32,396		31,257		29,205		32,463
Total liabilities	387,418		393,966		368,972		364,029		389,188
Temporary equity
Redeemable noncontrolling interests	92		82		85		109		104
Permanent equity
Preferred stock	4,343		4,343		4,343		4,838		4,838
Common stock	14		14		14		14		14
Additional paid-in capital	29,139		29,055		28,908		28,793		28,726
Retained earnings	40,999		40,178		39,549		39,714		39,090
Accumulated other comprehensive loss, net of tax	(4,900)		(4,876)		(4,893)		(5,805)		(5,602)
Less: Treasury stock, at cost	(28,752)		(28,145)		(27,151)		(26,696)		(26,242)
Total The Bank of New York Mellon Corporation shareholders’ equity	40,843		40,569		40,770		40,858		40,824
Nonredeemable noncontrolling interests of consolidated investment management funds	186		111		50		56		65
Total permanent equity	41,029		40,680		40,820		40,914		40,889
Total liabilities, temporary equity and permanent equity	$	428,539	$	434,728	$	409,877	$	405,052	$	430,181

5

THE BANK OF NEW YORK MELLON CORPORATION
FEE AND OTHER REVENUE
											2Q24 vs.								YTD24 vs.
(dollars in millions)	2Q24		1Q24		4Q23		3Q23		2Q23		1Q24		2Q23		YTD24		YTD23		YTD23
Investment services fees	$	2,359	$	2,278	$	2,242	$	2,230	$	2,252	4	%	5	%	$	4,637	$	4,371	6	%
Investment management and performance fees:
Investment management fees (a)	753		766		724		747		752		(2)		—		1,519		1,506		1
Performance fees	8		10		19		30		10		N/M		N/M		18		32		N/M
Total investment management and performance fees(b)	761		776		743		777		762		(2)		—		1,537		1,538		—
Foreign exchange revenue	184		152		143		154		158		21		16		336		334		1
Financing-related fees	53		57		45		45		50		(7)		6		110		102		8
Distribution and servicing fees	41		42		41		39		35		(2)		17		83		68		22
Total fee revenue	3,398		3,305		3,214		3,245		3,257		3		4		6,703		6,413		5
Investment and other revenue:
Income (loss) from consolidated investment management funds	8		15		26		(11)		10		N/M		N/M		23		15		N/M
Seed capital gains (losses) (c)	—		14		18		(4)		7		N/M		N/M		14		15		N/M
Other trading revenue	77		69		47		86		53		N/M		N/M		146		98		N/M
Renewable energy investment gains	8		6		2		1		5		N/M		N/M		14		25		N/M
Corporate/bank-owned life insurance	26		28		39		29		23		N/M		N/M		54		50		N/M
Other investments gains (losses) (d)	30		17		55		(9)		10		N/M		N/M		47		1		N/M
Disposal (losses) gains	—		—		(6)		2		(1)		N/M		N/M		—		(2)		N/M
Expense reimbursements from joint venture	30		27		28		29		31		N/M		N/M		57		60		N/M
Other income (loss)	7		7		(118)		55		9		N/M		N/M		14		17		N/M
Net securities (losses)	(17)		(1)		(48)		(19)		—		N/M		N/M		(18)		(1)		N/M
Total investment and other revenue	169		182		43		159		147		N/M		N/M		351		278		N/M
Total fee and other revenue	$	3,567	$	3,487	$	3,257	$	3,404	$	3,404	2	%	5	%	$	7,054	$	6,691	5	%
(a) Excludes seed capital gains (losses) related to consolidated investment management funds.
(b) On a constant currency basis (Non-GAAP), investment management and performance fees were flat compared with 2Q23. See "Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 18 for the reconciliation of this Non-GAAP measure.
(c) Includes gains (losses) on investments in BNY funds which hedge deferred incentive awards.
(d) Includes strategic equity, private equity and other investments.
N/M – Not meaningful.

6

THE BANK OF NEW YORK MELLON CORPORATION
AVERAGE BALANCES AND INTEREST RATES
	2Q24					1Q24					4Q23					3Q23					2Q23
	Average balance		Average rate			Average balance		Average rate			Average balance		Average rate			Average balance		Average rate			Average balance		Average rate
(dollars in millions; average rates are annualized)
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks	$	102,257	4.65	%		$	102,795	4.69	%		$	107,291	4.72	%		$	98,767	4.57	%		$	114,578	4.29	%
Interest-bearing deposits with banks	11,210		3.91			11,724		4.16			12,110		4.26			12,287		4.04			13,919		3.68
Federal funds sold and securities purchased under resale agreements	29,013		36.48		(a)	27,019		36.22		(a)	25,753		35.55		(a)	26,915		30.47		(a)	26,989		26.38		(a)
Loans	68,283		6.58			65,844		6.48			65,677		6.43			63,962		6.39			63,459		6.05
Securities:
U.S. government obligations	28,347		3.82			27,242		3.70			28,641		3.40			32,224		3.08			34,147		2.90
U.S. government agency obligations	62,549		3.29			63,135		3.22			59,067		2.95			59,481		2.87			61,565		2.78
Other securities (b)	46,828		4.04			43,528		4.01			39,415		4.03			39,874		3.93			40,989		3.59
Total investment securities (b)	137,724		3.66			133,905		3.57			127,123		3.39			131,579		3.24			136,701		3.05
Trading securities (b)	5,146		5.89			4,846		5.75			6,220		5.59			5,534		5.49			6,403		5.02
Total securities (b)	142,870		3.74			138,751		3.65			133,343		3.49			137,113		3.33			143,104		3.14
Total interest-earning assets (b)	$	353,633	7.24	%		$	346,133	7.06	%		$	344,174	6.86	%		$	339,044	6.45	%		$	362,049	5.77	%
Noninterest-earning assets	58,866					57,852					57,431					58,247					58,912
Total assets	$	412,499				$	403,985				$	401,605				$	397,291				$	420,961
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits	$	235,878	3.85	%		$	228,897	3.84	%		$	220,408	3.79	%		$	209,641	3.62	%		$	215,057	3.24	%
Federal funds purchased and securities sold under repurchase agreements	17,711		55.26		(a)	16,133		55.91		(a)	16,065		52.41		(a)	21,512		36.07		(a)	26,282		26.39		(a)
Trading liabilities	1,689		5.43			1,649		5.11			2,857		4.83			3,959		4.80			3,893		4.46
Other borrowed funds	351		8.61			502		3.47			465		5.56			540		4.47			2,702		4.60
Commercial paper	954		5.54			8		5.42			5		5.40			7		4.13			5		5.11
Payables to customers and broker-dealers	12,066		5.35			12,420		4.74			12,586		4.67			13,515		4.30			14,801		3.85
Long-term debt	31,506		5.92			31,087		5.82			30,702		5.70			31,161		5.52			31,970		5.45
Total interest-bearing liabilities	$	300,155	7.18	%		$	290,696	6.99	%		$	283,088	6.81	%		$	280,335	6.37	%		$	294,710	5.61	%
Total noninterest-bearing deposits	48,965					49,949					52,667					52,467					62,152
Other noninterest-bearing liabilities	22,839					23,005					24,962					23,699					23,526
Total The Bank of New York Mellon Corporation shareholders’ equity	40,387					40,248					40,823					40,711					40,493
Noncontrolling interests	153					87					65					79					80
Total liabilities and equity	$	412,499				$	403,985				$	401,605				$	397,291				$	420,961
Net interest margin			1.15	%				1.19	%				1.26	%				1.18	%				1.20	%
Net interest margin (FTE) – Non-GAAP (c)			1.15	%				1.19	%				1.26	%				1.18	%				1.20	%
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $163 billion for 2Q24, $151 billion for 1Q24, $141 billion for 4Q23, $126 billion for 3Q23 and $113 billion for 2Q23. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 5.51% for 2Q24, 5.49% for 1Q24, 5.48% for 4Q23, 5.36% for 3Q23 and 5.10% for 2Q23. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 5.41% for 2Q24, 5.38% for 1Q24, 5.35% for 4Q23, 5.26% for 3Q23 and 4.99% for 2Q23. We believe providing the rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.
(b) Average rates were calculated on an FTE basis, at tax rates of approximately 21%.
(c) See "Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 18 for the reconciliation of this Non-GAAP measure.

7

THE BANK OF NEW YORK MELLON CORPORATION
CAPITAL AND LIQUIDITY
	2024						2023
(dollars in millions)	June 30			March 31			Dec. 31			Sept. 30			June 30
Consolidated regulatory capital ratios (a)
Standardized Approach:
CET1 capital	$	18,671		$	18,383		$	18,534		$	18,156		$	18,018
Tier 1 capital	23,006			22,723			22,863			22,985			22,848
Total capital	24,539			24,310			24,414			24,552			24,413
Risk-weighted assets	163,583			169,909			156,178			153,167			153,158
CET1 ratio	11.4		%	10.8		%	11.9		%	11.9		%	11.8		%
Tier 1 capital ratio	14.1			13.4			14.6			15.0			14.9
Total capital ratio	15.0			14.3			15.6			16.0			15.9
Advanced Approaches:
CET1 capital	$	18,671		$	18,383		$	18,534		$	18,156		$	18,018
Tier 1 capital	23,006			22,723			22,863			22,985			22,848
Total capital	24,206			23,940			24,085			24,305			24,151
Risk-weighted assets	161,830			165,663			161,528			160,262			163,335
CET1 ratio	11.5		%	11.1		%	11.5		%	11.3		%	11.0		%
Tier 1 capital ratio	14.2			13.7			14.2			14.3			14.0
Total capital ratio	15.0			14.5			14.9			15.2			14.8
Tier 1 leverage ratio (a):
Average assets for Tier 1 leverage ratio	$	394,672		$	386,148		$	383,705		$	379,429		$	402,993
Tier 1 leverage ratio	5.8		%	5.9		%	6.0		%	6.1		%	5.7		%
SLR (a):
Leverage exposure	$	336,933		$	325,801		$	313,555		$	318,664		$	326,002
SLR	6.8		%	7.0		%	7.3		%	7.2		%	7.0		%
Average liquidity coverage ratio (a)	115		%	117		%	117		%	121		%	120		%
Average net stable funding ratio (a)	132		%	136		%	135		%	136		%	136		%
(a) Regulatory capital and liquidity ratios for June 30, 2024 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for June 30, 2024 was the Standardized Approach for the CET1 and Tier 1 capital ratios and the Advanced Approaches for the Total capital ratio, for March 31, 2024 was the Standardized Approach, and for Dec. 31, 2023, Sept. 30, 2023 and June 30, 2023, was the Advanced Approaches.

8

THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES SERVICES BUSINESS SEGMENT
																2Q24 vs.										YTD24 vs.
(dollars in millions)	2Q24			1Q24			4Q23			3Q23			2Q23			1Q24		2Q23		YTD24			YTD23			YTD23
Revenue:
Investment services fees:
Asset Servicing	$	1,018		$	1,013		$	975		$	976		$	980		—	%	4	%	$	2,031		$	1,921		6	%
Issuer Services	322			261			285			281			319			23		1		583			555			5
Total investment services fees	1,340			1,274			1,260			1,257			1,299			5		3		2,614			2,476			6
Foreign exchange revenue	144			124			118			107			124			16		16		268			263			2
Other fees (a)	56			59			54			52			54			(5)		4		115			109			6
Total fee revenue	1,540			1,457			1,432			1,416			1,477			6		4		2,997			2,848			5
Investment and other revenue	104			99			112			65			84			N/M		N/M		203			156			N/M
Total fee and other revenue	1,644			1,556			1,544			1,481			1,561			6		5		3,200			3,004			7
Net interest income	595			583			635			600			668			2		(11)		1,178			1,334			(12)
Total revenue	2,239			2,139			2,179			2,081			2,229			5		—		4,378			4,338			1
Provision for credit losses	(3)			11			64			19			16			N/M		N/M		8			16			N/M
Noninterest expense (ex. amortization of intangible assets)	1,547			1,530			1,645			1,590			1,560			1		(1)		3,077			3,092			—
Amortization of intangible assets	7			7			8			8			7			—		—		14			15			(7)
Total noninterest expense	1,554			1,537			1,653			1,598			1,567			1		(1)		3,091			3,107			(1)
Income before income taxes	$	688		$	591		$	462		$	464		$	646		16	%	7	%	$	1,279		$	1,215		5	%
Total revenue by line of business:
Asset Servicing	$	1,687		$	1,668		$	1,675		$	1,585		$	1,695		1	%	—	%	$	3,355		$	3,352		—	%
Issuer Services	552			471			504			496			534			17		3		1,023			986			4
Total revenue by line of business	$	2,239		$	2,139		$	2,179		$	2,081		$	2,229		5	%	—	%	$	4,378		$	4,338		1	%
Financial ratios:
Pre-tax operating margin	31		%	28		%	21		%	22		%	29		%					29		%	28		%
Memo: Securities lending revenue (b)	$	46		$	46		$	48		$	46		$	47		—	%	(2)	%	$	92		$	95		(3)	%
(a) Other fees primarily include financing-related fees.
(b) Included in investment services fees reported in the Asset Servicing line of business.
N/M – Not meaningful.

9

THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES SERVICES BUSINESS SEGMENT
											2Q24 vs.								YTD24 vs.
(dollars in millions, unless otherwise noted)	2Q24		1Q24		4Q23		3Q23		2Q23		1Q24		2Q23		YTD24		YTD23		YTD23
Selected balance sheet data:
Average loans	$	11,103	$	11,204	$	11,366	$	11,236	$	11,283	(1)	%	(2)	%	$	11,154	$	11,112	—	%
Average assets (a)	$	196,015	$	191,544	$	200,040	$	190,964	$	202,207	2	%	(3)	%	$	193,780	$	199,399	(3)	%
Average deposits	$	178,495	$	174,687	$	171,086	$	162,509	$	172,863	2	%	3	%	$	176,591	$	170,051	4	%
Selected metrics:
AUC/A at period end (in trillions) (b)(c)	$	35.7	$	35.4	$	34.2	$	32.3	$	33.2	1	%	8	%
Market value of securities on loan at period end (in billions) (d)	$	481	$	486	$	450	$	406	$	415	(1)	%	16	%
Issuer Services
Total debt serviced at period end (in trillions) (e)	$	14.1	$	14.0	$	14.0	$	13.8	$	13.8	1	%	2	%
Number of sponsored Depositary Receipts programs at period end	516		527		543		559		564		(2)	%	(9)	%
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) June 30, 2024 information is preliminary.
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $1.7 trillion at June 30, 2024, March 31, 2024 and Dec. 31, 2023, $1.5 trillion at Sept. 30, 2023 and $1.6 trillion at June 30, 2023.
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $66 billion at June 30, 2024, $64 billion at March 31,2024, $63 billion at Dec. 31, 2023 and Sept. 30, 2023 and $66 billion at June 30, 2023.

10

THE BANK OF NEW YORK MELLON CORPORATION
MARKET AND WEALTH SERVICES BUSINESS SEGMENT
																2Q24 vs.										YTD24 vs.
(dollars in millions)	2Q24			1Q24			4Q23			3Q23			2Q23			1Q24		2Q23		YTD24			YTD23			YTD23
Revenue:
Investment services fees:
Pershing	$	474		$	482		$	472		$	478		$	466		(2)	%	2	%	$	956		$	935		2	%
Treasury Services	202			184			179			180			183			10		10		386			358			8
Clearance and Collateral Management	338			329			322			305			295			3		15		667			585			14
Total investment services fees	1,014			995			973			963			944			2		7		2,009			1,878			7
Foreign exchange revenue	23			24			21			21			21			(4)		10		47			39			21
Other fees (a)	58			58			50			49			52			—		12		116			103			13
Total fee revenue	1,095			1,077			1,044			1,033			1,017			2		8		2,172			2,020			8
Investment and other revenue	23			17			16			16			16			N/M		N/M		40			31			N/M
Total fee and other revenue	1,118			1,094			1,060			1,049			1,033			2		8		2,212			2,051			8
Net interest income	417			423			436			401			420			(1)		(1)		840			873			(4)
Total revenue	1,535			1,517			1,496			1,450			1,453			1		6		3,052			2,924			4
Provision for credit losses	(2)			5			28			6			7			N/M		N/M		3			7			N/M
Noninterest expense (ex. amortization of intangible assets)	832			833			836			790			792			—		5		1,665			1,573			6
Amortization of intangible assets	1			1			1			2			2			—		(50)		2			3			(33)
Total noninterest expense	833			834			837			792			794			—		5		1,667			1,576			6
Income before income taxes	$	704		$	678		$	631		$	652		$	652		4	%	8	%	$	1,382		$	1,341		3	%
Total revenue by line of business:
Pershing	$	663		$	670		$	669		$	657		$	641		(1)	%	3	%	$	1,333		$	1,290		3	%
Treasury Services	426			416			408			397			413			2		3		842			832			1
Clearance and Collateral Management	446			431			419			396			399			3		12		877			802			9
Total revenue by line of business	$	1,535		$	1,517		$	1,496		$	1,450		$	1,453		1	%	6	%	$	3,052		$	2,924		4	%
Financial ratios:
Pre-tax operating margin	46		%	45		%	42		%	45		%	45		%					45		%	46		%
(a) Other fees primarily include financing-related fees.
N/M – Not meaningful.

11

THE BANK OF NEW YORK MELLON CORPORATION
MARKET AND WEALTH SERVICES BUSINESS SEGMENT
											2Q24 vs.								YTD24 vs.
(dollars in millions, unless otherwise noted)	2Q24		1Q24		4Q23		3Q23		2Q23		1Q24		2Q23		YTD24		YTD23		YTD23
Selected balance sheet data:
Average loans	$	41,893	$	39,271	$	39,200	$	37,496	$	36,432	7	%	15	%	$	40,582	$	36,642	11	%
Average assets (a)	$	124,790	$	123,552	$	132,357	$	129,665	$	131,519	1	%	(5)	%	$	124,171	$	131,761	(6)	%
Average deposits	$	91,371	$	89,539	$	87,695	$	84,000	$	85,407	2	%	7	%	$	90,455	$	85,721	6	%
Selected metrics:
AUC/A at period end (in trillions) (b)(c)	$	13.4	$	13.1	$	13.3	$	13.1	$	13.4	2	%	—	%
Pershing
AUC/A at period end (in trillions) (b)	$	2.6	$	2.6	$	2.5	$	2.4	$	2.4	—	%	8	%
Net new assets (U.S. platform) (in billions)(d)	$	(23)	$	(2)	$	(4)	$	23	$	(34)	N/M		N/M
Daily average revenue trades ("DARTs") (U.S. platform) (in thousands)	280		290		229		223		223		(3)	%	26	%
Average active clearing accounts (in thousands)	8,057		7,991		8,012		7,979		7,946		1	%	1	%
Treasury Services
Average daily U.S. dollar payment volumes	241,253		237,124		243,005		233,620		233,931		2	%	3	%
Clearance and Collateral Management
Average tri-party collateral management balances (in billions)	$	5,298	$	5,157	$	5,248	$	5,706	$	6,044	3	%	(12)	%
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) June 30, 2024 information is preliminary.
(c) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.
(d) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer.
N/M – Not meaningful.

12

THE BANK OF NEW YORK MELLON CORPORATION
INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT
																2Q24 vs.										YTD24 vs.
(dollars in millions)	2Q24			1Q24			4Q23			3Q23			2Q23			1Q24		2Q23		YTD24			YTD23			YTD23
Revenue:
Investment management fees	$	754		$	768		$	725		$	748		$	753		(2)	%	—	%	$	1,522		$	1,508		1	%
Performance fees	8			10			19			30			10			N/M		N/M		18			32			N/M
Investment management and performance fees (a)	762			778			744			778			763			(2)		—		1,540			1,540			—
Distribution and servicing fees	69			70			66			62			58			(1)		19		139			113			23
Other fees (b)	(64)			(60)			(55)			(50)			(56)			N/M		N/M		(124)			(109)			N/M
Total fee revenue	767			788			755			790			765			(3)		—		1,555			1,544			1
Investment and other revenue (c)	11			17			(121)			1			12			N/M		N/M		28			18			N/M
Total fee and other revenue (c)	778			805			634			791			777			(3)		—		1,583			1,562			1
Net interest income	43			41			45			39			39			5		10		84			84			—
Total revenue	821			846			679			830			816			(3)		1		1,667			1,646			1
Provision for credit losses	4			(1)			(2)			(9)			7			N/M		N/M		3			7			N/M
Noninterest expense (ex. amortization of intangible assets)	663			736			680			670			674			(10)		(2)		1,399			1,406			—
Amortization of intangible assets	5			4			5			5			5			25		—		9			10			(10)
Total noninterest expense	668			740			685			675			679			(10)		(2)		1,408			1,416			(1)
Income (loss) before income taxes	$	149		$	107		$	(4)		$	164		$	130		39	%	15	%	$	256		$	223		15	%
Total revenue by line of business:
Investment Management	$	549		$	576		$	415		$	565		$	553		(5)	%	(1)	%	$	1,125		$	1,117		1	%
Wealth Management	272			270			264			265			263			1		3		542			529			2
Total revenue by line of business	$	821		$	846		$	679		$	830		$	816		(3)	%	1	%	$	1,667		$	1,646		1	%
Financial ratios:
Pre-tax operating margin	18		%	13		%	(1)		%	20		%	16		%					15		%	14		%
Adjusted pre-tax operating margin – Non-GAAP (d)	20		%	14		%	(1)		%	22		%	18		%					17		%	15		%
Selected balance sheet data:
Average loans	$	13,520		$	13,553		$	13,405		$	13,519		$	13,995		—	%	(3)	%	$	13,536		$	13,977		(3)	%
Average assets (e)	$	26,031		$	26,272		$	26,341		$	26,654		$	27,399		(1)	%	(5)	%	$	26,151		$	27,882		(6)	%
Average deposits	$	11,005		$	11,364		$	12,039		$	13,578		$	15,410		(3)	%	(29)	%	$	11,185		$	15,775		(29)	%
(a) On a constant currency basis, investment management and performance fees were flat (Non-GAAP) compared with 2Q23. See "Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 18 for the reconciliation of this Non-GAAP measure.
(b) Other fees primarily include investment services fees.
(c) Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.
(d) Net of distribution and servicing expense. See "Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 18 for the reconciliation of this Non-GAAP measure.
(e) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
N/M – Not meaningful.

13

THE BANK OF NEW YORK MELLON CORPORATION
AUM BY PRODUCT TYPE, CHANGES IN AUM AND WEALTH MANAGEMENT CLIENT ASSETS
												2Q24 vs.									YTD24 vs.
(dollars in billions)	2Q24		1Q24			4Q23		3Q23		2Q23		1Q24		2Q23		YTD24			YTD23		YTD23
AUM by product type (a)(b):
Equity	$	167	$	168		$	145	$	133	$	145	(1)	%	15	%
Fixed income	221		219			205		190		203		1		9
Index	485		474			459		425		440		2		10
Liability-driven investments	598		573			605		534		579		4		3
Multi-asset and alternative investments	173		174			170		156		162		(1)		7
Cash	401		407			390		383		377		(1)		6
Total AUM	$	2,045	$	2,015		$	1,974	$	1,821	$	1,906	1	%	7	%
Changes in AUM (a)(b):
Beginning balance of AUM	$	2,015	$	1,974		$	1,821	$	1,906	$	1,908					$	1,974		$	1,836
Net inflows (outflows):
Long-term strategies:
Equity	(4)		(4)			(2)		(3)		(3)						(8)			(7)
Fixed income	4		12			3		(7)		(4)						16			—
Liability-driven investments	4		13			4		1		(3)						17			7
Multi-asset and alternative investments	(2)		(5)			(1)		(4)		(1)						(7)			(4)
Total long-term active strategies inflows (outflows)	2		16			4		(13)		(11)						18			(4)
Index	(4)		(15)			(10)		(2)		2						(19)			—
Total long-term strategies (outflows) inflows	(2)		1			(6)		(15)		(9)						(1)			(4)
Short-term strategies:
Cash	(7)		16			7		7		(9)						9			(9)
Total net (outflows) inflows	(9)		17			1		(8)		(18)						8			(13)
Net market impact	40		16			122		(50)		(3)						56			49
Net currency impact	(1)		(10)			30		(27)		19						(11)			34
Other	—		18		(c)	—		—		—						18		(c)	—
Ending balance of AUM	$	2,045	$	2,015		$	1,974	$	1,821	$	1,906	1	%	7	%	$	2,045		$	1,906	7	%
Wealth Management client assets (a)(d)	$	308	$	309		$	312	$	292	$	286	—	%	8	%
(a) June 30, 2024 information is preliminary.
(b) Represents assets managed in the Investment and Wealth Management business segment.
(c) Reflects the realignment of similar products and services within our lines of business. Refer to Form 8-K dated March 26, 2024 for further information.
(d) Includes AUM and AUC/A in the Wealth Management line of business.

14

THE BANK OF NEW YORK MELLON CORPORATION
OTHER SEGMENT
(in millions)	2Q24		1Q24		4Q23		3Q23		2Q23		YTD24		YTD23
Revenue:
Fee revenue	$	(4)	$	(17)	$	(17)	$	6	$	(2)	$	(21)	$	1
Investment and other revenue	29		47		38		74		34		76		72
Total fee and other revenue	25		30		21		80		32		55		73
Net interest (expense)	(25)		(7)		(15)		(24)		(27)		(32)		(63)
Total revenue	—		23		6		56		5		23		10
Provision for credit losses	1		12		(6)		(13)		(25)		13		2
Noninterest expense	15		65		820		24		71		80		112
(Loss) income before income taxes	$	(16)	$	(54)	$	(808)	$	45	$	(41)	$	(70)	$	(104)
Selected balance sheet data:
Average loans and leases	$	1,767	$	1,816	$	1,706	$	1,711	$	1,749	$	1,791	$	1,630
Average assets	$	65,663	$	62,617	$	42,867	$	50,008	$	59,836	$	64,140	$	55,115

15

THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES PORTFOLIO
(dollars in millions)	March 31, 2024			2Q24 change in unrealized gain (loss)		June 30, 2024					Fair value as a % of amortized cost (a)		Unrealized gain (loss)			% Floating rate (b)		Ratings (c)
						Amortized cost (a)		Fair value										AAA/ AA-		A+/ A-		BBB+/ BBB-		BB+ and lower		Not rated
	Fair value
Agency RMBS	$	41,642		$	(74)	$	45,135	$	40,898		91	%	$	(4,237)		23	%	100	%	—	%	—	%	—	%	—	%
U.S. Treasury	29,896			45		29,415		28,633			97		(782)			58		100		—		—		—		—
Non-U.S. government (d)	26,498			18		27,431		26,866			98		(565)			35		93		3		3		1		—
Agency commercial MBS	11,083			13		11,551		10,983			95		(568)			41		100		—		—		—		—
CLOs	7,248			6		7,338		7,354			100		16			100		100		—		—		—		—
Foreign covered bonds	7,259			11		7,484		7,334			98		(150)			46		100		—		—		—		—
U.S. government agencies	6,607			11		6,819		6,406			94		(413)			32		100		—		—		—		—
Non-agency commercial MBS	3,009			7		3,096		2,893			93		(203)			49		100		—		—		—		—
Non-agency RMBS	1,727			(3)		1,822		1,670			92		(152)			42		86		2		—		6		6
Other asset-backed securities	899			8		892		823			92		(69)			13		100		—		—		—		—
Other debt securities	11			—		12		11			91		(1)			—		—		—		—		—		100
Total securities	$	135,879	(e)	$	42	$	140,995	$	133,871	(e)(f)	95	%	$	(7,124)	(e)(g)	40	%	98	%	1	%	1	%	—	%	—	%
(a) Amortized cost reflects historical impairments, and is net of allowance for credit losses.
(b) Includes the impact of hedges.
(c) Represents ratings by S&P, or the equivalent.
(d) Includes supranational securities.
(e) Includes net unrealized gains on derivatives hedging securities available-for-sale (including terminated hedges) of $2,161 million at March 31, 2024 and $2,163 million at June 30, 2024.
(f) The fair value of available-for-sale securities totaled $92,584 million at June 30, 2024, net of hedges, or 69% of the fair value of the securities portfolio, net of hedges. The fair value of the held-to-maturity securities totaled $41,287 million at June 30, 2024, or 31% of the fair value of the securities portfolio, net of hedges.
(g) At June 30, 2024, includes pre-tax net unrealized losses of $1,982 million related to available-for-sale securities, net of hedges, and $5,142 million related to held-to-maturity securities. The after-tax unrealized losses, net of hedges, related to available-for-sale securities was $1,496 million and the after-tax equivalent related to held-to-maturity securities was $3,921 million.
Note: The amortizable purchase premium (net of discount) relating to securities was $344 million at June 30, 2024 and the amortization of that net purchase premium was $9 million in 2Q24.

16

THE BANK OF NEW YORK MELLON CORPORATION
ALLOWANCE FOR CREDIT LOSSES AND NONPERFORMING ASSETS
	2024						2023
(dollars in millions)	June 30			March 31			Dec. 31			Sept. 30			June 30
Allowance for credit losses – beginning of period:
Allowance for loan losses	$	322		$	303		$	211		$	191		$	170
Allowance for lending-related commitments	81			87			85			91			83
Allowance for other financial instruments (a)	37			24			29			41			67
Allowance for credit losses – beginning of period	$	440		$	414		$	325		$	323		$	320
Net (charge-offs) recoveries:
Charge-offs	(44)			(1)			—			(1)			(4)
Recoveries	—			—			5			—			2
Total net (charge-offs) recoveries	(44)			(1)			5			(1)			(2)
Provision for credit losses(b)	—			27			84			3			5
Allowance for credit losses – end of period	$	396		$	440		$	414		$	325		$	323
Allowance for credit losses – end of period:
Allowance for loan losses	$	286		$	322		$	303		$	211		$	191
Allowance for lending-related commitments	73			81			87			85			91
Allowance for other financial instruments (a)	37			37			24			29			41
Allowance for credit losses – end of period	$	396		$	440		$	414		$	325		$	323
Allowance for loan losses as a percentage of total loans	0.40		%	0.44		%	0.45		%	0.32		%	0.30		%
Nonperforming assets	$	227		$	278		$	237		$	48		$	88
(a) Includes allowance for credit losses on federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities, accounts receivable, cash and due from banks and interest-bearing deposits with banks.
(b) Includes all other instruments within the scope of ASU 2016-13,Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.

17

THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
BNY has included in this Financial Supplement certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.
Net interest income, on a fully taxable equivalent ("FTE") basis – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income which allows for the comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.
BNY has also included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business segment relative to industry competitors.
The presentation of the growth rates of investment management and performance fees on a constant currency basis permits investors to assess the significance of changes in foreign currency exchange rates. Growth rates on a constant currency basis were determined by applying the current period foreign currency exchange rates to the prior period revenue. We believe that this presentation, as a supplement to GAAP information, gives investors a clearer picture of the related revenue results without the variability caused by fluctuations in foreign currency exchange rates.
Notes:
Return on common and tangible common equity ratios are annualized.
Return on common equity and tangible common equity reconciliation
(dollars in millions)	2Q24			1Q24			4Q23			3Q23			2Q23			YTD24			YTD23
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP	$	1,143		$	953		$	162		$	958		$	1,036		$	2,096		$	1,947
Add: Amortization of intangible assets	13			12			14			15			14			25			28
Less: Tax impact of amortization of intangible assets	3			3			4			3			4			6			7
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP	$	1,153		$	962		$	172		$	970		$	1,046		$	2,115		$	1,968
Average common shareholders’ equity	$	36,044		$	35,905		$	36,050		$	35,873		$	35,655		$	35,975		$	35,569
Less: Average goodwill	16,229			16,238			16,199			16,237			16,219			16,234			16,190
Average intangible assets	2,834			2,848			2,858			2,875			2,888			2,841			2,894
Add: Deferred tax liability – tax deductible goodwill	1,213			1,209			1,205			1,197			1,193			1,213			1,193
Deferred tax liability – intangible assets	655			655			657			657			660			655			660
Average tangible common shareholders’ equity – Non-GAAP	$	18,849		$	18,683		$	18,855		$	18,615		$	18,401		$	18,768		$	18,338
Return on common equity – GAAP	12.7		%	10.7		%	1.8		%	10.6		%	11.7		%	11.7		%	11.0		%
Return on tangible common equity – Non-GAAP	24.6		%	20.7		%	3.6		%	20.6		%	22.8		%	22.7		%	21.7		%

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THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Book value and tangible book value per common share reconciliation	2024						2023
(dollars in millions, except common shares and unless otherwise noted)	June 30			March 31			Dec. 31			Sept. 30			June 30
BNY shareholders’ equity at period end – GAAP	$	40,843		$	40,569		$	40,770		$	40,858		$	40,824
Less: Preferred stock	4,343			4,343			4,343			4,838			4,838
BNY common shareholders’ equity at period end – GAAP	36,500			36,226			36,427			36,020			35,986
Less: Goodwill	16,217			16,228			16,261			16,159			16,246
Intangible assets	2,826			2,839			2,854			2,859			2,881
Add: Deferred tax liability – tax deductible goodwill	1,213			1,209			1,205			1,197			1,193
Deferred tax liability – intangible assets	655			655			657			657			660
BNY tangible common shareholders’ equity at period end – Non-GAAP	$	19,325		$	19,023		$	19,174		$	18,856		$	18,712
Period-end common shares outstanding (in thousands)	737,957			747,816			759,344			769,073			778,782
Book value per common share – GAAP	$	49.46		$	48.44		$	47.97		$	46.84		$	46.21
Tangible book value per common share – Non-GAAP	$	26.19		$	25.44		$	25.25		$	24.52		$	24.03
Net interest margin reconciliation
(dollars in millions)	2Q24			1Q24			4Q23			3Q23			2Q23
Net interest income – GAAP	$	1,030		$	1,040		$	1,101		$	1,016		$	1,100
Add: Tax equivalent adjustment	1			—			1			—			1
Net interest income (FTE) – Non-GAAP	$	1,031		$	1,040		$	1,102		$	1,016		$	1,101
Average interest-earning assets	$	353,633		$	346,133		$	344,174		$	339,044		$	362,049
Net interest margin – GAAP (a)	1.15		%	1.19		%	1.26		%	1.18		%	1.20		%
Net interest margin (FTE) – Non-GAAP (a)	1.15		%	1.19		%	1.26		%	1.18		%	1.20		%
(a) Net interest margin is annualized.

19

THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Pre-tax operating margin reconciliation - Investment and Wealth Management business segment
(dollars in millions)	2Q24			1Q24			4Q23			3Q23			2Q23			YTD24			YTD23
Income (loss) before income taxes – GAAP	$	149		$	107		$	(4)		$	164		$	130		$	256		$	223
Total revenue – GAAP	$	821		$	846		$	679		$	830		$	816		$	1,667		$	1,646
Less: Distribution and servicing expense	88			96			89			87			93			184			179
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP	$	733		$	750		$	590		$	743		$	723		$	1,483		$	1,467
Pre-tax operating margin – GAAP (a)	18		%	13		%	(1)		%	20		%	16		%	15		%	14		%
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (a)	20		%	14		%	(1)		%	22		%	18		%	17		%	15		%
(a) Income before income taxes divided by total revenue.
Constant currency reconciliations							2Q24 vs.
(dollars in millions)	2Q24			2Q23			2Q23
Consolidated:
Investment management and performance fees – GAAP	$	761		$	762		—		%
Impact of changes in foreign currency exchange rates	—			(1)
Adjusted investment management and performance fees – Non-GAAP	$	761		$	761		—		%
Investment and Wealth Management business segment:
Investment management and performance fees – GAAP	$	762		$	763		—		%
Impact of changes in foreign currency exchange rates	—			(1)
Adjusted investment management and performance fees – Non-GAAP	$	762		$	762		—		%

20