Bank of New York Mellon Corp

We have an internal information system that produces performance data along product and service lines for our three principal business segments: Securities Services, Market and Wealth Services and Investment and Wealth Management, and the Other segment.

Business segment accounting principles

Our business segment data has been determined on an internal management basis of accounting, rather than the generally accepted accounting principles (“GAAP”) used for consolidated financial reporting. These measurement principles are designed so that reported results of the businesses will track their economic performance.

Our business segments are consistent with the structure used by the Chief Executive Officer, our Chief Operating Decision Maker (“CODM”), to make key operating decisions and assess performance. Our CODM evaluates the business segments’ operating performance primarily based on fee and other revenue, total revenue, income before income taxes and pre-tax operating margin. The significant expense information regularly provided to and reviewed by the CODM is total noninterest expense. The CODM considers this information when evaluating the performance of each business segment and in making decisions about allocating capital and other resources to each business segment.

For information on the accounting principles of our business segments, see Note 16 of the Notes to Consolidated Financial Statements. For information on the primary products and services in each line of business, the primary types of revenue by line of business and how our business segments are presented and analyzed, see Note 23 of the Notes to Consolidated Financial Statements in our 2025 Annual Report.

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Business segment results are subject to reclassification when organizational changes are made, or for refinements in revenue and expense allocation methodologies. Refinements are typically reflected on a prospective basis. There were no reclassifications or organizational changes in the third quarter of 2026. In the first quarter of 2026, we realigned clients in Managed Accounts Solutions from the Asset Servicing line of business in the Securities Services business segment to the Wealth Solutions line of business in the Market and Wealth Services business segment. Business segment results for the three and nine months ended Sept. 30, 2025 have been revised to reflect this change.

The results of our business segments may be influenced by client and other activities that vary by quarter. In the first quarter, staff expense typically increases, reflecting the vesting of long-term stock awards for retirement-eligible employees. The timing of our annual employee salary increases also impacts staff expense. The annual employee salary increases are effective in March. In the second quarter, Depositary Receipts revenue is typically higher due to an increased level of client dividend payments. In the third quarter, volume-related fees may decline due to reduced client activity. In the fourth quarter, we typically incur higher business development and marketing expenses. In our Investment and Wealth Management business segment, performance fees are typically higher in the fourth quarter, as that quarter represents the end of the measurement period for many of the performance fee-eligible relationships.

The results of our business segments may also be impacted by the translation of financial results denominated in foreign currencies into the U.S. dollar. We are primarily impacted by activities denominated in the British pound and the euro. On a consolidated basis and in our Securities Services and Market and Wealth Services business segments, we typically have more foreign currency-denominated expenses than revenues. However, our Investment and Wealth Management business segment typically has more foreign currency-denominated revenues than expenses. Overall, currency fluctuations impact the year-over-year growth rate in the Investment and Wealth Management business segment more than the Securities Services and Market and Wealth Services business segments. However, currency fluctuations, in isolation, are not expected to significantly impact net income on a consolidated basis.

Fee revenue in the Investment and Wealth Management business segment, and, to a lesser extent, in the Securities Services and Market and Wealth Services business segments, is impacted by global market fluctuations. At Sept. 30, 2026, we estimated that a 5% change in global equity markets, spread evenly throughout the year, would impact fee revenue by less than 1% and diluted earnings per common share by $0.05 to $0.08.

See Note 16 of the Notes to Consolidated Financial Statements for the consolidating schedules, which show the contribution of our business segments to our overall profitability.

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Securities Services business segment

(a) In the first quarter of 2026, we realigned clients in Managed Accounts Solutions from the Asset Servicing line of business to the Wealth Solutions line of business in the Market and Wealth Services business segment. Prior period amounts were revised for comparability.

(b) Other fees primarily include financing-related fees.

(c) Included in investment services fees reported in the Asset Servicing line of business.

(d) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $2.3 trillion at Sept. 30, 2026 and $2.1 trillion at Sept. 30, 2025.

(e) 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 $72 billion at Sept. 30, 2026 and $81 billion at Sept. 30, 2025.

The Securities Services business segment consists of two distinct lines of business, Asset Servicing and Issuer Services, which provide business solutions across the transaction life cycle to our global asset owner and asset manager clients. We are one of the leading global investment services providers, with $45.9 trillion of AUC/A at Sept. 30, 2026. For

information on the drivers of the Securities Services fee revenue, see Note 9 of the Notes to Consolidated Financial Statements in our 2025 Annual Report.

The Asset Servicing business provides a comprehensive suite of solutions. We are one of the largest global custody, fund administrator and front-to-back outsourcing service providers. We offer services for the safekeeping of assets in capital

BNY 13 markets globally as well as fund accounting services, exchange-traded funds servicing, transfer agency, trust and depository, front-to-back capabilities, data and analytics solutions and digital asset custody and administration services for our clients. We deliver foreign exchange, and securities lending and financing solutions, on both an agency and principal basis. Our agency securities lending program is one of the largest lenders of U.S. and non-U.S. securities, servicing a lendable asset pool of approximately $6.6 trillion in 36 markets. Our market-leading liquidity services portal enables cash investments for institutional clients and includes fund research and analytics.

The Issuer Services business includes Corporate Trust and Depositary Receipts. Our Corporate Trust business delivers a full range of issuer and related investor services, including trustee, paying agency, fiduciary, escrow and other financial services. We are a leading provider to the debt capital markets, providing customized and market-driven solutions to investors, bondholders and lenders. Our Depositary Receipts business drives global investing by providing servicing and value-added solutions that enable, facilitate and enhance cross-border trading, clearing, settlement and ownership. We are one of the largest providers of depositary receipts services in the world, partnering with leading companies from more than 50 countries.

AUC/A of $45.9 trillion increased 11% compared with Sept. 30, 2025, primarily reflecting higher market values, net client inflows and net new business, partially offset by the unfavorable impact of a stronger U.S. dollar.

Total revenue of $2.8 billion increased 15% compared with the third quarter of 2025. The drivers of total revenue by line of business are indicated below.

Asset Servicing revenue of $2.1 billion increased 12% compared with the third quarter of 2025,

primarily reflecting higher net interest income, client activity, net new business and market values.

Issuer Services revenue of $690 million increased 27% compared with the third quarter of 2025, primarily reflecting higher Corporate Trust revenue, including the impact of pass-through activity associated with our role as financial agent for Trump Accounts.

Market and regulatory trends are driving investable assets toward lower fee asset management products at reduced margins for our clients. These dynamics are also negatively impacting our investment services fees. However, at the same time, these trends are providing additional outsourcing opportunities as clients and other market participants seek to comply with regulations and reduce their operating costs.

Noninterest expense of $1.8 billion increased 10% compared with the third quarter of 2025, primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings and lower severance expense.

Total revenue of $8.3 billion increased 16% compared with the first nine months of 2025. Asset Servicing revenue of $6.4 billion increased 16% compared with the first nine months of 2025, primarily reflecting higher net interest income, client activity, market values, foreign exchange revenue and the first quarter 2026 investment gains. Issuer Services revenue of $1.9 billion increased 15%, primarily reflecting higher Corporate Trust revenue, partially offset by the absence of a first quarter 2025 disposal gain.

Noninterest expense of $5.2 billion increased 8% compared with the first nine months of 2025, primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings.

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Market and Wealth Services business segment

(a) In the first quarter of 2026, we realigned clients in Managed Accounts Solutions from the Asset Servicing line of business in the Securities Services business segment to the Wealth Solutions line of business. Prior period amounts were revised for comparability.

(b) Other fees primarily include financing-related fees.

(c) Consists of AUC/A from the Clearance and Collateral Management and Wealth Solutions 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.

The Market and Wealth Services business segment consists of three distinct lines of business, Wealth Solutions, Payments and Trade, and Clearance and

Collateral Management, which provide business services and technology solutions to entities including financial institutions, corporations, foundations and endowments, public funds and government agencies. For information on the drivers of the Market and

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Wealth Services fee revenue, see Note 9 of the Notes to Consolidated Financial Statements in our 2025 Annual Report.

Wealth Solutions provides execution, clearing, custody and technology solutions, delivering operational support to broker-dealers, wealth managers and registered investment advisors (“RIAs”) globally.

Our Payments and Trade business is a leading provider of global payments, liquidity management and trade finance services for financial institutions, corporations and the public sector.

Our Clearance and Collateral Management business clears and settles equity and fixed-income transactions globally and serves as custodian for tri-party repo collateral worldwide. We are the primary provider of U.S. government securities clearance and a provider of non-U.S. government securities clearance. Our collateral services include collateral management, administration and segregation. We offer innovative solutions and industry expertise that help financial institutions and institutional investors with their financing, risk and balance sheet opportunities.

AUC/A of $17.1 trillion increased 7% compared with Sept. 30, 2025, primarily reflecting net client inflows and higher market values.

Total revenue of $2.0 billion increased 12% compared with the third quarter of 2025. The drivers of total revenue by line of business are indicated below.

Wealth Solutions revenue of $813 million increased 10% compared with the third quarter of 2025, primarily reflecting higher net interest income, market values, client activity and net new business.

Payments and Trade revenue of $579 million increased 14% compared with the third quarter of 2025, primarily reflecting higher net interest income and net new business.

Clearance and Collateral Management revenue of $592 million increased 12% compared with the third quarter of 2025, primarily reflecting higher collateral balances and clearance volumes.

Noninterest expense of $963 million increased 6% compared with the third quarter of 2025, primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings.

Total revenue of $5.8 billion increased 12% compared with the first nine months of 2025. Wealth Solutions revenue of $2.4 billion increased 8%, primarily reflecting higher net interest income, market values and client activity. Payments and Trade revenue of $1.7 billion increased 15%, primarily reflecting higher net interest income and net new business. Clearance and Collateral Management revenue of $1.7 billion increased 14%, primarily reflecting higher collateral balances and clearance volumes.

Noninterest expense of $2.8 billion increased 5% compared with the first nine months of 2025, primarily reflecting higher investments and revenue-related expenses, partially offset by efficiency savings.

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Investment and Wealth Management business segment

(a) On a constant currency basis, investment management and performance fees increased 3% (Non-GAAP) compared with the third quarter of 2025. See “Supplemental information – Explanation of GAAP and Non-GAAP financial measures” beginning on page 41 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.

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(a) Represents assets managed in the Investment and Wealth Management business segment.

(b) Reflects a change in methodology beginning in the third quarter of 2025 to include assets under advisement.

(c) Includes AUM and AUC/A in the Wealth Management line of business.

The Investment and Wealth Management business segment consists of Investment Management and Wealth Management lines of business. See pages 17 and 18 of our 2025 Annual Report for additional information on our Investment and Wealth Management business segment.

Our Investment Management business is a global, multi-asset portfolio solutions provider, delivering products and investment capabilities to institutional and retail clients across markets worldwide. Our offering spans global distribution, portfolio management and a broad range of investment strategies, including fixed income, equities, thematic investing and multi-asset allocation.

Wealth Management provides investment management, custody, wealth and estate planning, private banking services, investment servicing and

information management. Wealth Management has nearly 30 offices in the U.S. and internationally.

AUM of $2.2 trillion as of Sept. 30, 2026, increased 2% compared with Sept. 30, 2025, primarily reflecting higher market values, partially offset by cumulative net outflows and the unfavorable impact of the stronger U.S. dollar.

Net long-term strategy inflows were $10 billion in the third quarter of 2026, driven by fixed income, index and liability-driven investments, partially offset by outflows of equity investments. Short-term strategy outflows were $22 billion in the third quarter of 2026. Market and regulatory trends have resulted in increased demand for lower fee asset management products and for performance-based fees.

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Total revenue of $857 million increased 4% compared with the third quarter of 2025. The drivers of total revenue by line of business are indicated below.

Investment Management revenue of $562 million increased 1% compared with the third quarter of 2025, primarily reflecting higher market values, partially offset by the mix of AUM flows.

Wealth Management revenue of $295 million increased 11% compared with the third quarter of 2025, primarily reflecting higher net interest income and market values.

Revenue generated in the Investment and Wealth Management business segment included 28% from non-U.S. sources in the third quarter of 2026 and the third quarter of 2025.

Noninterest expense of $655 million increased 2% compared with the third quarter of 2025, primarily

reflecting higher revenue-related expenses and investments, partially offset by efficiency savings.

Total revenue of $2.5 billion increased 6% compared with the first nine months of 2025. Investment Management revenue of $1.7 billion increased 4%, primarily reflecting higher market values and the favorable impact of the weaker U.S. dollar, partially offset by the mix of AUM flows and lower performance fees. Wealth Management revenue of $856 million increased 9%, primarily reflecting higher market values and net interest income, partially offset by changes in product mix.

Noninterest expense of $2.1 billion increased 3% compared with the first nine months of 2025, primarily reflecting higher revenue-related expenses, employee salary increases and investments, partially offset by efficiency savings.

Other segment

See page 19 of our 2025 Annual Report for additional information on the Other segment.

Total revenue includes corporate treasury and other investment activity, including hedging activity, which has an offsetting impact between fee and other revenue and net interest expense.

Total revenue decreased $1 million compared with the third quarter of 2025, primarily reflecting the absence of third quarter 2025 gains realized on the

sale of real estate, partially offset by a third quarter 2026 strategic equity investment gain.

Noninterest expense increased $18 million compared with the third quarter of 2025, primarily reflecting the absence of a third quarter 2025 adjustment for the FDIC special assessment and higher severance expense.

Loss before income taxes increased $68 million compared with the first nine months of 2025, primarily driven by higher noninterest expense. Total

BNY 19 revenue decreased $3 million, primarily reflecting higher net investment securities losses, partially offset by investment-related gains. Noninterest expense increased $66 million compared with the first nine months of 2025, primarily reflecting higher staff expense and the absence of lower litigation reserves in the first nine months of 2025.