NORTHERN TRUST CORP (NTRS) · Material Event (8-K) SEC Filing

EX-99.1 2 q22026earningsreleaseex991.htm EX-99.1 DocumentExhibit 99.1 NEWS RELEASE www.northerntrust.com INVESTOR CONTACT Stephen Carroll 312-557-3474 Stephen.Carroll ntrs.com MEDIA CONTACT John O'Connell 312-444-2388 John.O'Connell ntrs.comNORTHERN TRUST CORPORATION REPORTS SECOND QUARTERNET INCOME OF $792.2 MILLION, EARNINGS PER DILUTED COMMON SHARE OF $4.23CHICAGO, JULY 22, 2026 Northern Trust Corporation today reported second quarter net income per diluted common share of $4.23, compared to $2.71 in the first quarter of 2026 and $2.13 in the second quarter of 2025. Net income was $792.2 million, compared to $525.5 million in the prior quarter and $421.3 million in the prior-year quarter.Second Quarter 2026 results included the following notable items $451.5 million (pre-tax) impact to Other Noninterest Income from notable items (after-tax $342.0 million) $525.4 million (pre-tax) gain related to Northern Trust s participation in the second Visa, Inc. Exchange Offer, recognized in Other Operating Income (after-tax $396.4 million). $73.9 million (pre-tax) loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio, recognized in Investment Security Gains (Losses), net (after-tax $54.4 million). $145.6 million (pre-tax) impact to Noninterest Expense from notable items (after-tax $109.9 million) $61.5 million (pre-tax) charge related to software dispositions, recognized in Equipment and Software expense (after-tax $46.4 million). $51.0 million (pre-tax) of severance-related charges, recognized in Compensation and Benefits expense (after-tax $38.5 million). $33.1 million (pre-tax) expense related to a broad based one-time equity grant to eligible employees, recognized in Compensation and Benefits expense (after-tax $25.0 million). MICHAEL O GRADY, CHAIRMAN AND CHIEF EXECUTIVE OFFICER Northern Trust delivered another quarter of strong performance reflecting disciplined execution of our One Northern Trust strategy amid a constructive operating environment. Excluding notable items in the period, earnings per share increased 40%. Revenue increased 13% versus last year, supported by robust fee growth, healthy capital markets activity, and double-digit net interest income growth. Our progress against our strategic priorities helped drive an eighth consecutive quarter of positive organic trust-fee growth. Expenses were well controlled, and the Corporation generated more than 700 basis points of operating leverage for the second consecutive quarter. The Corporation returned over $1 billion of capital to shareholders in the first half of the year and its Board of Directors approved a $0.08 or 10% increase to the quarterly dividend at its meeting on July 21st, 2026. We remain focused on supporting our clients, advancing our strategic priorities, and delivering long-term value to our shareholders through sustainable financial performance across market environments as we enter the second half of the year. FINANCIAL SUMMARY KEY METRICS % Change Q2 2026 vs. ($ In Millions except per share data) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Trust, Investment and Other Servicing Fees $ 1,349.5 $ 1,341.4 $ 1,231.1 1 % 10 % Other Noninterest Income 673.0 210.2 156.3 N M N M Net Interest Income (FTE*) 683.1 661.6 615.2 3 11 Total Revenue (FTE*) $ 2,705.6 $ 2,213.2 $ 2,002.6 22 % 35 % Noninterest Expense $ 1,638.6 $ 1,508.0 $ 1,416.6 9 % 16 % Provision for Credit Losses (5.3) (3.0) 16.5 N M N M Provision for Income Taxes 272.5 175.1 143.5 56 90 FTE Adjustment* 7.6 7.6 4.7 59 Net Income $ 792.2 $ 525.5 $ 421.3 51 % 88 % Earnings Allocated to Common Shares $ 782.2 $ 504.7 $ 412.8 55 % 90 % Diluted Earnings per Common Share $ 4.23 $ 2.71 $ 2.13 56 98 Return on Average Common Equity 25.9 % 17.4 % 14.2 % Average Assets $ 163,575.8 $ 165,297.3 $ 157,719.2 (1) % 4 % (*) Net interest income and total revenue presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.N M - Not meaningful NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS CLIENT ASSETS Assets under custody administration (AUC A) and assets under management are a driver of the Corporation s trust, investment and other servicing fees, the largest component of noninterest income. As of % Change June 30, 2026 vs. ($ In Billions) June 30, 2026* March 31, 2026 June 30, 2025 March 31, 2026 June 30, 2025 Assets Under Custody Administration Asset Servicing $ 18,635.2 $ 17,288.6 $ 16,864.9 8 % 10 % Wealth Management 1,365.0 1,265.3 1,203.4 8 13 Total Assets Under Custody Administration $ 20,000.2 $ 18,553.9 $ 18,068.3 8 % 11 % Assets Under Custody(1) Asset Servicing $ 14,587.7 $ 13,521.1 $ 13,056.5 8 % 12 % Wealth Management 1,351.1 1,254.2 1,187.2 8 14 Total Assets Under Custody $ 15,938.8 $ 14,775.3 $ 14,243.7 8 % 12 % Assets Under Management Asset Servicing $ 1,436.0 $ 1,287.3 $ 1,229.2 12 % 17 % Wealth Management 533.9 497.6 468.5 7 14 Total Assets Under Management $ 1,969.9 $ 1,784.9 $ 1,697.7 10 % 16 % (1) Assets Under Custody are a component of Assets Under Custody Administration.(*) Client assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission.Total assets under custody administration and assets under custody increased sequentially primarily driven by favorable markets and net client inflows. Total assets under custody administration and assets under custody increased from the prior-year quarter, primarily driven by favorable markets, partially offset by unfavorable currency translation.Total assets under management increased sequentially and compared to the prior-year quarter primarily reflecting favorable markets and net client inflows. TRUST, INVESTMENT AND OTHER SERVICING FEES % Change Q2 2026 vs. ($ In Millions) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Asset Servicing Custody and Fund Administration $ 512.3 $ 497.6 $ 469.2 3 % 9 % Investment Management 172.2 169.2 157.3 2 10 Securities Lending 29.4 23.3 20.2 26 46 Other 43.5 50.4 45.1 (14) (3) Total Asset Servicing Trust, Investment and Other Servicing Fees $ 757.4 $ 740.5 $ 691.8 2 % 9 % Wealth Management Private Wealth(1) $ 483.0 $ 486.0 $ 434.8 (1) % 11 % Global Family Office (GFO) 109.1 114.9 104.5 (5) 4 Total Wealth Management Trust, Investment and Other Servicing Fees $ 592.1 $ 600.9 $ 539.3 (1) % 10 % Total Consolidated Trust, Investment and Other Servicing Fees $ 1,349.5 $ 1,341.4 $ 1,231.1 1 % 10 % (1) Beginning in Q2 2026, Wealth Management Trust, Investment and Other Servicing Fees by region are combined into the Private Wealth line item. Prior periods have been revised.Asset Servicing and Wealth Management Trust, Investment and Other Servicing Fees are impacted by both one-month and one-quarter lagged asset values.Total Asset Servicing Trust, Investment and Other Servicing Fees increased both sequentially and from the prior-year quarter. Custody and Fund Administration fees increased from the prior-year quarter primarily due to favorable markets and net new business. Investment Management fees increased from the prior-year quarter primarily due to favorable markets and net client inflows. Securities Lending fees increased sequentially primarily due to higher spreads. Securities Lending fees increased from the prior-year quarter primarily due to higher trading volumes and spreads. Other trust, investment and other servicing fees decreased sequentially primarily due to higher fees associated with seasonal benefit payment services during the first quarter each year.Total Wealth Management Trust, Investment and Other Servicing Fees decreased sequentially and increased from the prior-year quarter. Private Wealth fees increased from the prior-year quarter primarily due to favorable markets. GFO fees decreased sequentially primarily due to the impact of lower asset values on a lagged quarter basis.2 NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS REPORTING SEGMENT RESULTS % Change Q2 2026 vs. ($ In Millions) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Income (Loss) before Income Taxes (FTE*) Asset Servicing(1) $ 323.3 $ 373.3 $ 271.4 (13) % 19 % Wealth Management(1) 333.5 330.2 309.6 1 8 Other(2) 415.5 4.7 (11.5) N M N M Total Income before Income Taxes (FTE*) $ 1,072.3 $ 708.2 $ 569.5 51 % 88 % Pre-Tax Margin (FTE*) Asset Servicing(1) 23.7 % 28.3 % 23.2 % (4.6) pts 0.5 pts Wealth Management(1) 37.4 37.1 37.2 0.3 0.2 Total Pre-Tax Margin (FTE*) 39.6 % 32.0 % 28.4 % 7.6 pts 11.2 pts Average Loans Asset Servicing $ 5,800.6 $ 5,632.5 $ 5,812.8 3 % % Wealth Management 35,767.0 35,261.8 35,345.2 1 1 Total Average Loans $ 41,567.6 $ 40,894.3 $ 41,158.0 2 % 1 % Average Deposits Asset Servicing $ 100,980.6 $ 102,421.0 $ 95,506.7 (1) % 6 % Wealth Management 26,715.1 26,469.8 25,291.0 1 6 Other 150.0 141.0 1,580.1 6 (91) Total Average Deposits $ 127,845.7 $ 129,031.8 $ 122,377.8 (1) % 4 % (1) The current quarter charges related to software dispositions ($61.5 million) and severance ($51.0 million) are allocated to the Reporting Segments with $100.6 million allocated to Asset Servicing and $11.9 million allocated to Wealth Management. (2) The current quarter $525.4 million gain related to Northern Trust's participation in the second Visa Exchange Offer, the $73.9 million loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio, and the $33.1 million one-time equity grant to eligible employees are retained within Other.(*) Income (Loss) before Income Taxes and Pre-Tax Margin presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail. Note Reporting segment results are subject to reclassification when organizational changes are made. The results are also subject to refinements in revenue and expense allocation methodologies, which are typically reflected on a retrospective basis unless it is impractical to do so. N M - Not meaningful OTHER NONINTEREST INCOME % Change Q2 2026 vs. ($ In Millions) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Other Noninterest Income Foreign Exchange Trading Income $ 97.1 $ 87.7 $ 50.6 11 % 92 % Security Commissions and Trading Income 55.6 52.1 39.6 7 40 Other Operating Income(1) 594.2 70.4 66.1 N M N M Investment Security Gains (Losses), net (73.9) N M N M Total Other Noninterest Income $ 673.0 $ 210.2 $ 156.3 N M N M (1) Beginning in Q1 2026, Treasury Management Fees are included within Other Operating Income. Prior periods have been revised. Foreign Exchange Trading Income increased compared to the prior-year quarter primarily due to higher trading volumes driven by client activity and market volatility, particularly in Asia-Pacific markets.Security Commissions and Trading Income increased compared to the prior-year quarter primarily due to higher volumes as a result of market volatility and growth in outsourced trading activity.Other Operating Income increased sequentially and compared to the prior-year quarter primarily due to a $525.4 million gain related to Northern Trust s participation in the second Visa, Inc. Exchange Offer.Investment Security Gains (Losses), net reflects a $73.9 million loss on the sale of available for sale debt securities in the current quarter related to a repositioning of the securities portfolio.3 NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS NET INTEREST INCOME % Change Q2 2026 vs. ($ In Millions) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Net Interest Income Interest Income (FTE*) $ 2,196.9 $ 2,241.6 $ 2,217.5 (2) % (1) % Interest Expense 1,513.8 1,580.0 1,602.3 (4) (6) Net Interest Income (FTE*) $ 683.1 $ 661.6 $ 615.2 3 % 11 % Average Earning Assets (1) $ 151,291.2 $ 153,677.4 $ 145,822.0 (2) % 4 % Net Interest Margin (FTE*) 1.81 % 1.75 % 1.69 % 6 bps 12 bps (1) For further detail on average earning assets, refer to the Average Balance Sheet on pg. 12.(*) Interest income, net interest income and net interest margin presented on an FTE basis are non-GAAP financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.bps - basis pointsNet Interest Income on an FTE basis increased sequentially primarily driven by lower funding costs and a favorable deposit mix, partially offset by lower deposits. Net Interest Income on an FTE basis increased compared to the prior-year quarter primarily driven by higher deposits and lower funding costs.The Net Interest Margin on an FTE basis increased sequentially and compared to the prior-year quarter primarily driven by lower funding costs. PROVISION FOR CREDIT LOSSES As of and for the three-months ended, % Change June 30, 2026 vs. ($ In Millions) June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2026 June 30, 2025 Allowance for Credit Losses Beginning Allowance for Credit Losses $ 195.2 $ 198.3 $ 207.3 (2) % (6) % Provision for Credit Losses (5.3) (3.0) 16.5 N M N M Net Recoveries (Charge-offs) 0.4 (0.1) 0.3 N M N M Ending Allowance for Credit Losses $ 190.3 $ 195.2 $ 224.1 (3) % (15) % Allowance assigned to Loans $ 160.9 $ 161.1 $ 180.5 % (11) % Undrawn Loan Commitments and Standby Letters of Credit 21.9 25.5 34.7 (14) (37) Debt Securities and Other Financial Assets 7.5 8.6 8.9 (12) (15) Ending Allowance for Credit Losses $ 190.3 $ 195.2 $ 224.1 (3) % (15) % N M - Not meaningfulQ2 2026The negative provision in the current quarter resulted from a decrease in the collective reserve, partially offset by an increase in individual reserves. The decrease in the collective reserve was primarily driven by a strengthening macroeconomic outlook and improved credit quality for the Commercial Real Estate (CRE) and Commercial and Institutional (C I) portfolios. The increase in the individual reserve was driven by a small number of non-performing loans.Q1 2026The negative provision in the prior quarter resulted from a decrease in the collective reserve, partially offset by an increase in individual reserves. The decrease in the collective reserve was primarily driven by improved credit quality of the C I portfolio, partially offset by increased macroeconomic uncertainty. The increase in the individual reserve was driven by a small number of non-performing loans.Q2 2025The provision in the prior-year quarter resulted from an increase in specific reserves related to a small number of non-performing loans and an increase in the collective reserve resulting primarily from a worsening macroeconomic outlook, partially offset by sector and portfolio-specific improvements within the CRE portfolio.4 NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS NONINTEREST EXPENSE % Change Q2 2026 vs. ($ In Millions) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Noninterest Expense Compensation and Benefits $ 868.0 $ 822.2 $ 732.5 6 % 18 % Outside Services 246.3 236.7 247.0 4 Equipment and Software 378.5 308.1 293.7 23 29 Occupancy 53.5 51.3 52.5 4 2 Other Operating Expense 92.3 89.7 90.9 3 2 Total Noninterest Expense $ 1,638.6 $ 1,508.0 $ 1,416.6 9 % 16 % End of Period Full-Time Equivalent Employees 23,600 23,600 23,400 % 1 % Compensation and Benefits expense increased sequentially primarily due to the current quarter severance charge of $51.0 million, a $33.1 million one-time equity grant to eligible employees and annual base pay adjustments, partially offset by seasonal equity incentive awards granted to retirement-eligible employees in the prior quarter. Compensation and Benefits expense increased compared to the prior-year quarter primarily due to the current quarter severance charge of $51.0 million, higher incentives, a $33.1 million one-time equity grant to eligible employees, annual base pay adjustments and an increase in pension expense. Equipment and Software expense increased sequentially primarily due to software dispositions of $61.5 million in the current quarter and higher software support expenses. Equipment and Software expense increased compared to the prior-year quarter primarily due to software dispositions of $61.5 million in the current quarter, higher software support and higher amortization. PROVISION FOR INCOME TAXES % Change Q2 2026 vs. ($ In Millions) Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Net Income Income before Income Taxes $ 1,064.7 $ 700.6 $ 564.8 52% 89% Provision for Income Taxes 272.5 175.1 143.5 56 90 Net Income $ 792.2 $ 525.5 $ 421.3 51% 88% Effective Tax Rate 25.6 % 25.0 % 25.4 % (60) bps (20) bps bps - basis pointsThe effective tax rate increased sequentially primarily due to lower tax benefits associated with share-based compensation, partially offset by discrete tax benefits from the resolution of state income tax audits. CAPITAL ACTIONS The Corporation returned $499.4 million to common shareholders in the current quarter through dividends and the repurchase of shares. During the current quarter, the Corporation declared cash dividends totaling $148.8 million to common stockholders and maintained its quarterly cash dividend of $0.80 per share on common stock from the previous quarter. The Corporation repurchased 2,129,047 shares of common stock, including 4,861 withheld to satisfy tax withholding obligations related to share-based compensation, at a total cost of $350.6 million ($164.65 average price per share). The Corporation also declared cash dividends totaling $4.7 million to preferred stockholders during the current quarter.5 NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS REGULATORY CAPITAL The capital ratios of Northern Trust Corporation and its principal subsidiary, The Northern Trust Company, remained strong at June 30, 2026, exceeding the minimum requirements for classification as well-capitalized under applicable U.S. regulatory requirements. ($ In Millions) Standardized Approach Advanced Approach Northern Trust Corporation June 30, 2026* March 31, 2026 June 30, 2025 June 30, 2026* March 31, 2026 June 30, 2025 Well-Capitalized Ratios Minimum Capital Ratios Regulatory Capital Common Equity Tier 1 Capital $ 11,605.6 $ 11,173.5 $ 11,108.2 $ 11,605.6 $ 11,173.5 $ 11,108.2 Tier 1 Capital 12,418.7 11,995.5 11,938.5 12,418.7 11,995.5 11,938.5 Total Capital 14,706.5 14,288.1 13,508.9 14,516.2 14,092.9 13,285.6 Assets Risk-Weighted Assets $ 95,157.3 $ 93,150.8 $ 91,385.4 $ 81,119.6 $ 78,198.0 $ 74,176.8 Average Adjusted Total Assets 162,601.3 164,381.7 156,854.5 162,601.3 164,381.7 156,854.5 Supplementary Leverage Exposure N A N A N A 144,498.8 141,713.4 131,379.4 Capital Ratios Common Equity Tier 1 Capital 12.2 % 12.0 % 12.2 % 14.3 % 14.3 % 15.0 % N A 4.5 % Tier 1 Capital 13.1 12.9 13.1 15.3 15.3 16.1 6.0 6.0 Total Capital 15.5 15.3 14.8 17.9 18.0 17.9 10.0 8.0 Tier 1 Leverage 7.6 7.3 7.6 7.6 7.3 7.6 N A 4.0 Supplementary Leverage N A N A N A 8.6 8.5 9.1 N A 3.0 ($ In Millions) Standardized Approach Advanced Approach The Northern Trust Company June 30, 2026* March 31, 2026 June 30, 2025 June 30, 2026* March 31, 2026 June 30, 2025 Well-Capitalized Ratios Minimum Capital Ratios Regulatory Capital Common Equity Tier 1 Capital $ 11,084.4 $ 10,669.2 $ 10,278.6 $ 11,084.4 $ 10,669.2 $ 10,278.6 Tier 1 Capital 11,084.4 10,669.2 10,278.6 11,084.4 10,669.2 10,278.6 Total Capital 13,024.6 12,614.4 11,501.8 12,834.4 12,419.2 11,278.6 Assets Risk-Weighted Assets $ 93,697.4 $ 91,741.9 $ 90,205.6 $ 78,677.0 $ 75,858.7 $ 72,017.5 Average Adjusted Total Assets 162,049.4 163,772.4 156,405.8 162,049.4 163,772.4 156,405.8 Supplementary Leverage Exposure N A N A N A 143,562.4 140,752.7 130,930.4 Capital Ratios Common Equity Tier 1 Capital 11.8 % 11.6 % 11.4 % 14.1 % 14.1 % 14.3 % 6.5 % 4.5 % Tier 1 Capital 11.8 11.6 11.4 14.1 14.1 14.3 8.0 6.0 Total Capital 13.9 13.7 12.8 16.3 16.4 15.7 10.0 8.0 Tier 1 Leverage 6.8 6.5 6.6 6.8 6.5 6.6 5.0 4.0 Supplementary Leverage N A N A N A 7.7 7.6 7.9 3.0 3.0 (*) Regulatory Capital, Risk-Weighted Assets and resulting ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. 6 NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS RECONCILIATION TO FULLY TAXABLE EQUIVALENT The following table presents a reconciliation of interest income, net interest income, net interest margin, total revenue, income before taxes, and pre-tax margin prepared in accordance with GAAP to such measures on an FTE non-GAAP basis. Management believes this presentation facilitates the analysis of asset yields and provides a clearer indication of these financial measures for comparative purposes. When adjusted to an FTE basis, yields on taxable, nontaxable and partially taxable assets are comparable however, the adjustment to an FTE basis has no impact on net income. QUARTERS 2026 2025 ($ in Millions) SECOND FIRST FOURTH THIRD SECOND Net Interest Income Interest Income - GAAP $ 2,189.3 $ 2,234.0 $ 2,126.6 $ 2,144.3 $ 2,212.8 Add FTE Adjustment 7.6 7.6 12.7 5.5 4.7 Interest Income (FTE) - Non-GAAP $ 2,196.9 $ 2,241.6 $ 2,139.3 $ 2,149.8 $ 2,217.5 Net Interest Income - GAAP $ 675.5 $ 654.0 $ 641.6 $ 590.8 $ 610.5 Add FTE Adjustment 7.6 7.6 12.7 5.5 4.7 Net Interest Income (FTE) - Non-GAAP $ 683.1 $ 661.6 $ 654.3 $ 596.3 $ 615.2 Net Interest Margin - GAAP(1) 1.79 % 1.73 % 1.78 % 1.68 % 1.68 % Net Interest Margin (FTE) - Non-GAAP(1) 1.81 % 1.75 % 1.81 % 1.70 % 1.69 % Total Revenue Total Revenue - GAAP $ 2,698.0 $ 2,205.6 $ 2,123.1 $ 2,025.4 $ 1,997.9 Add FTE Adjustment 7.6 7.6 12.7 5.5 4.7 Total Revenue (FTE) - Non-GAAP $ 2,705.6 $ 2,213.2 $ 2,135.8 $ 2,030.9 $ 2,002.6 Income before Income Taxes Income before Income Taxes - GAAP $ 1,064.7 $ 700.6 $ 633.8 $ 619.5 $ 564.8 Add FTE Adjustment 7.6 7.6 12.7 5.5 4.7 Income before Income Taxes (FTE) - Non-GAAP $ 1,072.3 $ 708.2 $ 646.5 $ 625.0 $ 569.5 Pre-Tax Margin - GAAP(2) 39.5 % 31.8 % 29.9 % 30.6 % 28.3 % Pre-Tax Margin (FTE) - Non-GAAP(2) 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % (1) Net Interest Margin is calculated by dividing annualized net interest income by average interest-earning assets.(2) Pre-Tax Margin is calculated by dividing income before income taxes by total revenue.7 NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS FORWARD LOOKING STATEMENTS This release may include statements which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified typically by words or phrases such as believe, expect, anticipate, intend, estimate, project, likely, plan, goal, target, strategy, and similar expressions or future or conditional verbs such as may, will, should, would, and could. Forward-looking statements include statements, other than those related to historical facts, that relate to Northern Trust s financial results and outlook, capital adequacy, dividend policy and share repurchase program, accounting estimates and assumptions, credit quality including allowance levels, future pension plan contributions, effective tax rate, anticipated expense levels, contingent liabilities, acquisitions, strategies, market and industry trends, and expectations regarding the impact of accounting pronouncements and legislation. These statements are based on Northern Trust s current beliefs and expectations of future events or future results, and involve risks and uncertainties that are difficult to predict and subject to change. These statements are also based on assumptions about many important factors, including the factors discussed in Northern Trust s most recent annual report on Form 10-K and other filings with the U.S. Securities and Exchange Commission, all of which are available on Northern Trust s website. We caution you not to place undue reliance on any forward-looking statement as actual results may differ materially from those expressed or implied by forward-looking statements. Northern Trust assumes no obligation to update its forward-looking statements. WEBCAST OF SECOND QUARTER EARNINGS CONFERENCE CALL Northern Trust s second quarter earnings conference call will be webcast on July 22, 2026. The live call will be conducted at 8 00 a.m. CT and is accessible on Northern Trust s website at https www.northerntrust.com about-us investor-relationsA recording of the live call will be available on Northern Trust s website following the live event, for approximately four weeks. Participants will need Windows Media or Adobe Flash software. This earnings release can also be accessed at Northern Trust s website. About Northern Trust Northern Trust Corporation (Nasdaq NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https www.northerntrust.com terms-and-conditions. 8 NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) STATEMENT OF INCOME DATA % Change(1) ($ In Millions Except Per Share Data) Q2 2026 vs. Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Noninterest Income Trust, Investment and Other Servicing Fees $ 1,349.5 $ 1,341.4 $ 1,231.1 1 % 10 % Foreign Exchange Trading Income 97.1 87.7 50.6 11 92 Security Commissions and Trading Income 55.6 52.1 39.6 7 40 Other Operating Income(2) 594.2 70.4 66.1 N M N M Investment Security Gains (Losses), net (73.9) N M N M Total Noninterest Income 2,022.5 1,551.6 1,387.4 30 46 Net Interest Income Interest Income 2,189.3 2,234.0 2,212.8 (2) (1) Interest Expense 1,513.8 1,580.0 1,602.3 (4) (6) Net Interest Income 675.5 654.0 610.5 3 11 Total Revenue 2,698.0 2,205.6 1,997.9 22 35 Provision for Credit Losses (5.3) (3.0) 16.5 N M N M Noninterest Expense Compensation and Benefits 868.0 822.2 732.5 6 18 Outside Services 246.3 236.7 247.0 4 Equipment and Software 378.5 308.1 293.7 23 29 Occupancy 53.5 51.3 52.5 4 2 Other Operating Expense 92.3 89.7 90.9 3 2 Total Noninterest Expense 1,638.6 1,508.0 1,416.6 9 16 Income before Income Taxes 1,064.7 700.6 564.8 52 89 Provision for Income Taxes 272.5 175.1 143.5 56 90 NET INCOME $ 792.2 $ 525.5 $ 421.3 51 % 88 % Preferred Stock Dividends 4.7 16.2 4.7 (71) NET INCOME APPLICABLE TO COMMON STOCK $ 787.5 $ 509.3 $ 416.6 55 % 89 % Earnings Allocated to Participating Securities 5.3 4.5 3.8 16 38 Earnings Allocated to Common Shares $ 782.2 $ 504.7 $ 412.8 55 % 90 % Per Common Share Net Income Basic $ 4.25 $ 2.72 $ 2.14 56 % 98 % Diluted 4.23 2.71 2.13 56 98 Average Common Equity $ 12,209.7 $ 11,876.3 $ 11,727.2 3 % 4 % Return on Average Common Equity 25.9 % 17.4 % 14.2 % Cash Dividends Declared per Common Share $ 0.80 $ 0.80 $ 0.75 % 7 % Average Common Shares Outstanding (000s) Basic 183,994 185,499 192,752 (1) % (5) % Diluted 184,890 186,539 193,375 (1) (4) Common Shares Outstanding (EOP) (000s) 182,956 185,047 191,233 (1) (4) (1) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.(2) Beginning in Q1 2026, Treasury Management Fees are included within Other Operating Income. Prior periods have been restated. N M - Not meaningfulEOP - End of period9 NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) STATEMENT OF INCOME DATA ($ In Millions Except Per Share Data) SIX MONTHS 2026 2025 % Change(1) Noninterest Income Trust, Investment and Other Servicing Fees $ 2,690.9 $ 2,444.9 10 % Foreign Exchange Trading Income 184.8 109.3 69 Security Commissions and Trading Income 107.7 78.7 37 Other Operating Income 664.7 126.4 N M Investment Security Gains (Losses), net (73.9) N M Total Noninterest Income 3,574.2 2,759.3 30 Net Interest Income Interest Income 4,423.4 4,353.7 2 Interest Expense 3,093.9 3,175.1 (3) Net Interest Income 1,329.5 1,178.6 13 Total Revenue 4,903.7 3,937.9 25 Provision for Credit Losses (8.3) 17.5 N M Noninterest Expense Compensation and Benefits 1,690.2 1,486.6 14 Outside Services 483.0 492.2 (2) Equipment and Software 686.6 574.6 19 Occupancy 104.8 105.9 (1) Other Operating Expense 182.0 174.9 4 Total Noninterest Expense 3,146.6 2,834.2 11 Income before Income Taxes 1,765.4 1,086.2 63 Provision for Income Taxes 447.6 272.9 64 NET INCOME $ 1,317.8 $ 813.3 62 % Preferred Stock Dividends 20.9 20.9 NET INCOME APPLICABLE TO COMMON STOCK $ 1,296.9 $ 792.4 64 % Earnings Allocated to Participating Securities 9.8 7.4 33 Earnings Allocated to Common Shares $ 1,287.1 $ 785.0 64 % Per Common Share Net Income Basic $ 6.97 $ 4.05 72 % Diluted 6.93 4.03 72 Average Common Equity $ 12,043.9 $ 11,723.2 3 % Return on Average Common Equity 21.7 % 13.6 % Cash Dividends Declared per Common Share $ 1.60 $ 1.50 7 % Average Common Shares Outstanding (000s) Basic 184,742 193,966 (5) % Diluted 185,710 194,742 (5) Common Shares Outstanding (EOP) (000s) 182,956 191,233 (4) (1)Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.N M - Not meaningfulEOP - End of period10 NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) BALANCE SHEET ($ In Millions) % Change(1) June 30, 2026 vs. June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2026 June 30, 2025 Assets Federal Reserve and Other Central Bank Deposits $ 50,556.4 $ 41,757.3 $ 52,265.5 21 % (3) % Interest-Bearing Due from and Deposits with Banks(2) 6,160.0 6,343.0 6,800.9 (3) (9) Federal Funds Sold and Securities Purchased under Agreements to Resell 426.5 1,678.9 921.9 (75) (54) Debt Securities Available for Sale 38,123.1 36,913.2 32,250.4 3 18 Held to Maturity 23,492.1 24,286.2 21,400.8 (3) 10 Total Debt Securities 61,615.2 61,199.4 53,651.2 1 15 Loans 43,822.0 42,505.5 43,323.4 3 1 Other Interest-Earning Assets(3) 3,499.3 8,415.9 2,522.6 (58) 39 Total Earning Assets 166,079.4 161,900.0 159,485.5 3 4 Allowance for Credit Losses (168.4) (169.7) (188.5) (1) (11) Cash and Due from Banks and Other Central Bank Deposits(4) 1,201.7 1,407.7 2,035.1 (15) (41) Buildings and Equipment 447.6 447.5 467.7 (4) Goodwill 709.6 709.5 714.6 (1) Other Assets 11,027.3 10,279.3 9,369.2 7 18 Total Assets $ 179,297.2 $ 174,574.3 $ 171,883.6 3 % 4 % Liabilities and Stockholders Equity Interest-Bearing Deposits Savings, Money Market and Other $ 34,419.1 $ 29,309.7 $ 27,965.1 17 % 23 % Savings Certificates and Other Time 4,686.9 5,238.4 6,742.5 (11) (30) Non-U.S. Offices - Interest-Bearing 78,274.0 75,850.7 77,206.9 3 1 Total Interest-Bearing Deposits 117,380.0 110,398.8 111,914.5 6 5 Federal Funds Purchased 1,568.9 1,974.3 2,388.5 (21) (34) Securities Sold under Agreements to Repurchase 175.6 330.5 841.4 (47) (79) Other Borrowings(5) 8,627.2 7,839.5 6,532.9 10 32 Senior Notes 3,331.2 3,345.5 2,835.2 17 Long-Term Debt 2,073.3 2,881.6 4,089.8 (28) (49) Total Interest-Bearing Liabilities 133,156.2 126,770.2 128,602.3 5 4 Demand and Other Noninterest-Bearing Deposits 28,200.0 29,299.4 25,139.2 (4) 12 Other Liabilities 4,539.4 5,517.4 5,275.6 (18) (14) Total Liabilities 165,895.6 161,587.0 159,017.1 3 4 Common Equity Common Equity, excluding Accumulated Other Comprehensive Income 13,068.4 12,739.0 12,680.8 3 3 Accumulated Other Comprehensive Income (Loss) (551.7) (636.6) (699.2) (13) (21) Total Common Equity 12,516.7 12,102.4 11,981.6 3 4 Preferred Equity 884.9 884.9 884.9 Total Equity 13,401.6 12,987.3 12,866.5 3 4 Total Liabilities and Stockholders Equity $ 179,297.2 $ 174,574.3 $ 171,883.6 3 % 4 % (1) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.(2) Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC.(3) Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC.(4) Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC.(5) Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago.11 NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) AVERAGE BALANCE SHEET ($ In Millions) % Change(1) Q2 2026 vs. Q2 2026 Q1 2026 Q2 2025 Q1 2026 Q2 2025 Assets Federal Reserve and Other Central Bank Deposits $ 38,322.9 $ 42,554.7 $ 43,655.3 (10) % (12) % Interest-Bearing Due from and Deposits with Banks(2) 6,304.2 6,014.6 5,321.5 5 18 Federal Funds Sold and Securities Purchased under Agreements to Resell 521.9 1,186.8 713.2 (56) (27) Debt Securities Available for Sale 37,775.8 35,780.4 31,415.0 6 20 Held to Maturity 23,604.2 23,883.3 20,895.9 (1) 13 Total Debt Securities 61,380.0 59,663.7 52,310.9 3 17 Loans 41,567.6 40,894.3 41,158.0 2 1 Other Interest-Earning Assets(3) 3,194.6 3,363.3 2,663.1 (5) 20 Total Earning Assets 151,291.2 153,677.4 145,822.0 (2) 4 Allowance for Credit Losses (169.9) (175.1) (174.9) (3) (3) Cash and Due from Banks and Other Central Bank Deposits(4) 1,313.9 1,137.0 1,069.8 16 23 Buildings and Equipment 453.1 459.8 479.3 (1) (5) Goodwill 712.5 713.5 709.1 Other Assets 9,975.0 9,484.7 9,813.9 5 2 Total Assets $ 163,575.8 $ 165,297.3 $ 157,719.2 (1) % 4 % Liabilities and Stockholders Equity Interest-Bearing Deposits Savings, Money Market and Other $ 32,356.8 $ 29,244.9 $ 28,797.4 11 % 12 % Savings Certificates and Other Time 5,059.1 5,785.2 6,652.0 (13) (24) Non-U.S. Offices - Interest-Bearing 70,929.3 75,261.9 70,158.0 (6) 1 Total Interest-Bearing Deposits 108,345.2 110,292.0 105,607.4 (2) 3 Federal Funds Purchased 2,338.3 2,576.7 2,469.0 (9) (5) Securities Sold under Agreements to Repurchase 677.2 483.8 584.6 40 16 Other Borrowings(5) 8,255.7 7,638.3 7,008.2 8 18 Senior Notes 3,335.9 3,352.8 2,818.2 (1) 18 Long-Term Debt 2,856.9 3,472.7 4,087.8 (18) (30) Total Interest-Bearing Liabilities 125,809.2 127,816.3 122,575.2 (2) 3 Demand and Other Noninterest-Bearing Deposits 19,500.5 18,739.8 16,770.4 4 16 Other Liabilities 5,171.5 5,980.0 5,761.5 (14) (10) Total Liabilities 150,481.2 152,536.1 145,107.1 (1) 4 Common Equity Common Equity, excluding Accumulated Other Comprehensive Income 12,778.5 12,443.4 12,500.4 3 2 Accumulated Other Comprehensive Income (Loss) (568.8) (567.1) (773.2) (26) Total Common Equity 12,209.7 11,876.3 11,727.2 3 4 Preferred Equity 884.9 884.9 884.9 Total Equity 13,094.6 12,761.2 12,612.1 3 4 Total Liabilities and Stockholders Equity $ 163,575.8 $ 165,297.3 $ 157,719.2 (1) % 4 % (1) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.(2) Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC.(3) Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC.(4) Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC.(5) Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago.12 NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) QUARTERLY TREND DATA QUARTERS ($ In Millions Except Per Share Data) 2026 2025 SECOND FIRST FOURTH THIRD SECOND Net Income Summary Trust, Investment and Other Servicing Fees $ 1,349.5 $ 1,341.4 $ 1,307.4 $ 1,265.5 $ 1,231.1 Other Noninterest Income 673.0 210.2 174.1 169.1 156.3 Net Interest Income 675.5 654.0 641.6 590.8 610.5 Total Revenue 2,698.0 2,205.6 2,123.1 2,025.4 1,997.9 Provision for Credit Losses (5.3) (3.0) (8.0) (17.0) 16.5 Noninterest Expense 1,638.6 1,508.0 1,497.3 1,422.9 1,416.6 Income before Income Taxes 1,064.7 700.6 633.8 619.5 564.8 Provision for Income Taxes 272.5 175.1 167.8 161.9 143.5 Net Income $ 792.2 $ 525.5 $ 466.0 $ 457.6 $ 421.3 Per Common Share Net Income - Basic $ 4.25 $ 2.72 $ 2.44 $ 2.30 $ 2.14 - Diluted 4.23 2.71 2.42 2.29 2.13 Cash Dividends Declared per Common Share 0.80 0.80 0.80 0.80 0.75 Book Value (EOP) 68.41 65.40 64.79 63.83 62.65 Market Value (EOP) 173.84 139.57 136.59 134.60 126.79 Financial Ratios Return on Average Common Equity 25.9 % 17.4 % 15.4 % 14.8 % 14.2 % Net Interest Margin (GAAP) 1.79 1.73 1.78 1.68 1.68 Net Interest Margin (FTE*) 1.81 1.75 1.81 1.70 1.69 Assets Under Custody Administration ($ in Billions) - End Of Period Asset Servicing $ 18,635.2 $ 17,288.6 $ 17,418.4 $ 16,990.4 $ 16,864.9 Wealth Management 1,365.0 1,265.3 1,297.7 1,257.2 1,203.4 Total Assets Under Custody Administration $ 20,000.2 $ 18,553.9 $ 18,716.1 $ 18,247.6 $ 18,068.3 Assets Under Custody ($ In Billions) - End Of Period Asset Servicing $ 14,587.7 $ 13,521.1 $ 13,604.8 $ 13,195.0 $ 13,056.5 Wealth Management 1,351.1 1,254.2 1,284.3 1,244.1 1,187.2 Total Assets Under Custody $ 15,938.8 $ 14,775.3 $ 14,889.1 $ 14,439.1 $ 14,243.7 Assets Under Management ($ In Billions) - End Of Period Asset Servicing $ 1,436.0 $ 1,287.3 $ 1,296.0 $ 1,280.1 $ 1,229.2 Wealth Management 533.9 497.6 507.2 492.6 468.5 Total Assets Under Management $ 1,969.9 $ 1,784.9 $ 1,803.2 $ 1,772.7 $ 1,697.7 Asset Quality ($ In Millions) - End Of Period Nonaccrual Loans Assets(1) $ 71.3 $ 55.0 $ 76.7 $ 78.8 $ 92.8 Nonaccrual Assets Loans(1) 0.16 % 0.13 % 0.18 % 0.18 % 0.21 % Gross Charge-offs $ (0.2) $ (0.4) $ (1.4) $ (2.1) $ (0.1) Gross Recoveries 0.6 0.3 1.0 1.7 0.4 Net Recoveries (Charge-offs) $ 0.4 $ (0.1) $ (0.4) $ (0.4) $ 0.3 Annualized Net Recoveries (Charge-offs) to Avg Loans % % % % % Allowance for Credit Losses Assigned to Loans $ 160.9 $ 161.1 $ 164.3 $ 164.4 $ 180.5 Undrawn Loan Commitments and Standby Letters of Credit 21.9 25.5 23.3 32.1 34.7 Debt Securities and Other Financial Assets 7.5 8.6 10.7 10.2 8.9 Loans Allowance Nonaccrual Loans 2.3 x 2.9 x 2.1 x 2.1 x 1.9 x (*) Net interest margin presented on an FTE basis is a non-GAAP financial measure. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.(1) There was no Other Real Estate Owned (OREO) for any of the periods presented.13

EX-99.3 4 q22026trendreport_ex993.htm EX-99.3 q22026trendreport_ex993 Financial Trends Second Quarter 2026 July 22, 2026 The historical financial results and trends reflected in this report are not indicative of future financial results and trends for Northern Trust Corporation. This report should be read in conjunction with the Corporation's Second Quarter 2026 earnings press release, 2025 Annual Report to Shareholders and periodic reports to the Securities and Exchange Commission, all of which contain additional information about factors that could affect the Corporation's future financial results and trends. The Corporation assumes no obligation to update this report. TABLE OF CONTENTS 1 7 Financial Summary Interest Rate Trends 2 8 Net Income Trends Asset Quality 3 9 Reporting Segment Results Client Assets 4 10 Balance Sheet (EOP) Reconciliation to FTE 5 11 Regulatory Capital Reconciliation to FTE (Ratios) 6 Balance Sheet Trends Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 792.2 $ 525.5 $ 466.0 $ 457.6 $ 421.3 51 % 88 % $ 1,317.8 $ 813.3 62 % 782.2 504.7 457.0 437.2 412.8 55 % 90 % 1,287.1 785.0 64 % 183,994 185,499 187,532 190,054 192,752 (1)% (5)% 184,742 193,966 (5)% 184,890 186,539 188,582 191,001 193,375 (1)% (4)% 185,710 194,742 (5)% $ 4.25 $ 2.72 $ 2.44 $ 2.30 $ 2.14 56 % 98 % $ 6.97 $ 4.05 72 % 4.23 2.71 2.42 2.29 2.13 56 % 98 % 6.93 4.03 72 % $ 0.80 $ 0.80 $ 0.80 $ 0.80 $ 0.75 % 7 % $ 1.60 $ 1.50 7 % 18.9 % 29.5 % 33.1 % 34.9 % 35.2 % (10.6) pts (16.3) pts 23.1 % 37.2 % (14.1) pts $ 173.84 $ 139.57 $ 136.59 $ 134.60 $ 126.79 25 % 37 % $ 173.84 $ 126.79 37 % 68.41 65.40 64.79 63.83 62.65 5 % 9 % 68.41 62.65 9 % 25.9 % 17.4 % 15.4 % 14.8 % 14.2 % 8.5 pts 11.7 pts 21.7 % 13.6 % 8.1 pts 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % 7.6 pts 11.2 pts 36.2 % 27.8 % 8.4 pts 74.8 % 70.1 % 69.4 % 70.6 % 69.3 % 4.7 pts 5.5 pts 72.7 % 69.9 % 2.8 pts 49.9 % 60.6 % 61.2 % 62.3 % 61.5 % (10.7) pts (11.6) pts 54.7 % 61.9 % (7.2) pts Common Equity Tier 1 Capital 12.2 % 12.0 % 12.6 % 12.4 % 12.2 % 0.2 pts pts 12.2 % 12.2 % pts Tier 1 Capital 13.1 % 12.9 % 13.5 % 13.4 % 13.1 % 0.2 pts pts 13.1 % 13.1 % pts Total Capital 15.5 % 15.3 % 16.1 % 15.1 % 14.8 % 0.2 pts 0.7 pts 15.5 % 14.8 % 0.7 pts Tier 1 Leverage 7.6 % 7.3 % 7.8 % 8.0 % 7.6 % 0.3 pts pts 7.6 % 7.6 % pts Common Equity Tier 1 Capital 14.3 % 14.3 % 15.0 % 15.1 % 15.0 % pts (0.7) pts 14.3 % 15.0 % (0.7) pts Tier 1 Capital 15.3 % 15.3 % 16.0 % 16.2 % 16.1 % pts (0.8) pts 15.3 % 16.1 % (0.8) pts Total Capital 17.9 % 18.0 % 18.8 % 18.0 % 17.9 % (0.1) pts pts 17.9 % 17.9 % pts Tier 1 Leverage 7.6 % 7.3 % 7.8 % 8.0 % 7.6 % 0.3 pts pts 7.6 % 7.6 % pts Supplementary Leverage 8.6 % 8.5 % 8.7 % 8.9 % 9.1 % 0.1 pts (0.5) pts 8.6 % 9.1 % (0.5) pts $ 20,000.2 $ 18,553.9 $ 18,716.1 $ 18,247.6 $ 18,068.3 8 % 11 % $ 20,000.2 $ 18,068.3 11 % 15,938.8 14,775.3 14,889.1 14,439.1 14,243.7 8 % 12 % 15,938.8 14,243.7 12 % 1,969.9 1,784.9 1,803.2 1,772.7 1,697.7 10 % 16 % 1,969.9 1,697.7 16 % 23,600 23,600 23,800 23,600 23,400 % 1 % 23,600 23,400 1 % (1) (2) (3) Profitability ($ in Millions): Northern Trust Corporation FINANCIAL SUMMARY Earnings Allocated to Common Shares Net Income Year-to Date% Change Q2 2026 vs. Earnings Per Share: Average common shares outstanding (000s): Basic Return on Average Common Equity Diluted Diluted Basic Earnings Per Share Dividend Payout Ratio Per Share Information / Ratios: Cash Dividends Declared Per Common Share Trust Fees to Total Revenue (FTE)(1) Market Value Per Share (End of Period) Capital Ratios:(2) Standardized Approach Financial Ratios: Book Value Per Common Share (End of Period) Noninterest Income to Total Revenue (FTE)(1) Pre-Tax Margin (FTE)(1) Regulatory Capital, Risk-Weighted Assets and resulting ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Fully taxable equivalent (FTE). Presentation on an FTE basis is a non-generally accepted accounting principle financial measure. Please refer to the Reconciliation to Fully Taxable Equivalent - Ratios on page 11 for further detail. Client Assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Advanced Approach Client Assets - End of Period ($ in Billions): (3) Assets Under Custody/Administration Full Time Equivalent Employees Assets Under Management Assets Under Custody 1 % Change(2) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change(2) $ 757.4 $ 740.5 $ 729.6 $ 706.9 $ 691.8 2 % 9 % $ 1,497.9 $ 1,363.7 10 % 592.1 600.9 577.8 558.6 539.3 (1)% 10 % 1,193.0 1,081.2 10 % Total Fees 1,349.5 1,341.4 1,307.4 1,265.5 1,231.1 1 % 10 % 2,690.9 2,444.9 10 % 97.1 87.7 74.3 57.2 50.6 11 % 92 % 184.8 109.3 69 % 55.6 52.1 49.9 41.8 39.6 7 % 40 % 107.7 78.7 37 % 594.2 70.4 49.9 70.1 66.1 N/M N/M 664.7 126.4 N/M (73.9) N/M N/M (73.9) N/M Total Noninterest Income 2,022.5 1,551.6 1,481.5 1,434.6 1,387.4 30 % 46 % 3,574.2 2,759.3 30 % 683.1 661.6 654.3 596.3 615.2 3 % 11 % 1,344.7 1,188.9 13 % Total Revenue (FTE) (1) 2,705.6 2,213.2 2,135.8 2,030.9 2,002.6 22 % 35 % 4,918.9 3,948.2 25 % (5.3) (3.0) (8.0) (17.0) 16.5 N/M N/M (8.3) 17.5 N/M 868.0 822.2 806.3 740.5 732.5 6 % 18 % 1,690.2 1,486.6 14 % 246.3 236.7 248.1 248.2 247.0 4 % % 483.0 492.2 (2)% 378.5 308.1 301.1 294.2 293.7 23 % 29 % 686.6 574.6 19 % 53.5 51.3 56.4 55.0 52.5 4 % 2 % 104.8 105.9 (1)% 92.3 89.7 85.4 85.0 90.9 3 % 2 % 182.0 174.9 4 % Total Noninterest Expense 1,638.6 1,508.0 1,497.3 1,422.9 1,416.6 9 % 16 % 3,146.6 2,834.2 11 % Income before Income Taxes (FTE) (1) 1,072.3 708.2 646.5 625.0 569.5 52 % 89 % 1,780.6 1,096.5 63 % 272.5 175.1 167.8 161.9 143.5 56 % 90 % 447.6 272.9 64 % 7.6 7.6 12.7 5.5 4.7 % 59 % 15.2 10.3 48 % Total Taxes (FTE) (1) 280.1 182.7 180.5 167.4 148.2 53 % 89 % 462.8 283.2 63 % Net Income $ 792.2 $ 525.5 $ 466.0 $ 457.6 $ 421.3 51 % 88 % $ 1,317.8 $ 813.3 62 % $ 4.25 $ 2.72 $ 2.44 $ 2.30 $ 2.14 56 % 98 % $ 6.97 $ 4.05 72 % $ 4.23 $ 2.71 $ 2.42 $ 2.29 $ 2.13 56 % 98 % $ 6.93 $ 4.03 72 % 184,890 186,539 188,582 191,001 193,375 (1)% (4)% 185,710 194,742 (5)% $ 4.7 $ 16.2 $ 4.7 $ 16.2 $ 4.7 (71)% % $ 20.9 $ 20.9 % 26.1 % 25.8 % 27.9 % 26.8 % 26.0 % 0.3 pts 0.1 pts 26.0 % 25.8 % 0.2 pts Asset Servicing Trust, Investment and Other Servicing Fees ($ in Millions except per share information) NET INCOME TRENDS Northern Trust Corporation Q2 2026 vs. Year-to Date WM Trust, Investment and Other Servicing Fees Foreign Exchange Trading Income Security Commissions and Trading Income Investment Security Gains (Losses), net Other Operating Income Net Interest Income (FTE)(1) Provision for Credit Losses Outside Services Compensation and Benefits Equipment and Software Occupancy Other Operating Expense Provision for Income Taxes Taxable Equivalent Adjustment Earnings Per Share - Basic (1) Fully taxable equivalent (FTE). Presentation on an FTE basis is a non-generally accepted accounting principle financial measure. Please refer to the Reconciliation to Fully Taxable Equivalent on page 11 for further detail. (2) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Average Diluted Shares (000s) Earnings Per Share - Diluted Preferred Dividends Effective Tax Rate (FTE)(1) 2 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 512.3 $ 497.6 $ 496.4 $ 482.7 $ 469.2 3 % 9 % $ 1,009.9 $ 922.5 9 % 172.2 169.2 165.8 159.6 157.3 2 % 10 % 341.4 309.8 10 % 29.4 23.3 23.1 21.2 20.2 26 % 46 % 52.8 38.1 39 % 43.5 50.4 44.3 43.4 45.1 (14)% (3)% 93.8 93.3 1 % Total Asset Servicing Trust, Investment and Other Servicing Fees $ 757.4 $ 740.5 $ 729.6 $ 706.9 $ 691.8 2 % 9 % $ 1,497.9 $ 1,363.7 10 % $ 323.3 $ 373.3 $ 325.8 $ 294.4 $ 271.4 (13)% 19 % $ 696.6 $ 506.9 37 % 23.7 % 28.3 % 25.5 % 24.7 % 23.2 % (4.6) pts 0.5 pts 26.0 % 22.1 % 3.9 pts $ 5,800.6 $ 5,632.5 $ 5,746.0 $ 5,399.9 $ 5,812.8 3 % % $ 5,717.0 $ 5,781.2 (1)% 100,980.6 102,421.0 92,611.0 90,195.3 95,506.7 (1)% 6 % 101,696.8 92,418.8 10 % $ 483.0 $ 486.0 $ 470.5 $ 457.1 $ 434.8 (1)% 11 % $ 969.0 $ 872.9 11 % 109.1 114.9 107.3 101.5 104.5 (5)% 4 % 224.0 208.3 8 % Total Wealth Management Trust, Investment and Other Servicing Fees $ 592.1 $ 600.9 $ 577.8 $ 558.6 $ 539.3 (1)% 10 % $ 1,193.0 $ 1,081.2 10 % $ 333.5 $ 330.2 $ 341.8 $ 342.4 $ 309.6 1 % 8 % $ 663.8 $ 613.7 8 % 37.4 % 37.1 % 38.9 % 40.5 % 37.2 % 0.3 pts 0.2 pts 37.2 % 37.1 % 0.1 pts $ 35,767.0 $ 35,261.8 $ 34,812.3 $ 36,100.7 $ 35,345.2 1 % 1 % $ 35,515.8 $ 35,336.2 1 % 26,715.1 26,469.8 26,572.2 25,370.4 25,291.0 1 % 6 % 26,593.1 25,290.3 5 % $ 415.5 $ 4.7 $ (21.1) $ (11.8) $ (11.5) N/M N/M $ 420.2 $ (24.1) N/M 150.0 141.0 646.0 1,134.9 1,580.1 6 % (91)% 145.5 1,457.2 (90)% (1) (2) Asset Servicing Custody & Fund Administration Northern Trust Corporation Reporting Segment Results(1) ($ in Millions) Year-to Date% Change Q2 2026 vs. Other Investment Management Securities Lending Income before Income Taxes (FTE)(2) Pre-Tax Margin (FTE)(2) Wealth Management Average Deposits Average Loans Global Family Office Private Wealth Income before Income Taxes (FTE)(2) Pre-Tax Margin (FTE)(2) Average Deposits Average Loans Fully taxable equivalent (FTE). Presentation on an FTE basis is a non-generally accepted accounting principle financial measure. Please refer to the Reconciliation to Fully Taxable Equivalent section on pages 10 and 11 for further detail. Reporting segment results are subject to reclassification when organizational changes are made. The results are also subject to refinements in revenue and expense allocation methodologies, which are typically reflected on a retrospective basis unless it is impractical to do so. Average Deposits Other Income before Income Taxes (FTE)(2) 3 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 50,556.4 $ 41,757.3 $ 53,456.0 $ 49,328.9 $ 52,265.5 21 % (3)% 6,160.0 6,343.0 6,540.8 6,404.5 6,800.9 (3)% (9)% 426.5 1,678.9 2,654.1 1,856.3 921.9 (75)% (54)% Available For Sale 38,123.1 36,913.2 34,036.5 32,889.2 32,250.4 3 % 18 % Held To Maturity 23,492.1 24,286.2 23,429.6 22,974.9 21,400.8 (3)% 10 % Total Debt Securities 61,615.2 61,199.4 57,466.1 55,864.1 53,651.2 1 % 15 % 43,822.0 42,505.5 41,948.3 42,949.4 43,323.4 3 % 1 % 3,499.3 8,415.9 4,128.9 2,676.2 2,522.6 (58)% 39 % Total Earning Assets 166,079.4 161,900.0 166,194.2 159,079.4 159,485.5 3 % 4 % (168.4) (169.7) (175.0) (174.6) (188.5) (1)% (11)% 1,201.7 1,407.7 1,130.7 976.8 2,035.1 (15)% (41)% 447.6 447.5 464.6 457.1 467.7 % (4)% 709.6 709.5 712.9 712.9 714.6 % (1)% 11,027.3 10,279.3 8,805.3 9,211.7 9,369.2 7 % 18 % Total Assets $ 179,297.2 $ 174,574.3 $ 177,132.7 $ 170,263.3 $ 171,883.6 3 % 4 % $ 34,419.1 $ 29,309.7 $ 28,984.1 $ 29,040.1 $ 27,965.1 17 % 23 % 4,686.9 5,238.4 6,418.9 7,358.7 6,742.5 (11)% (30)% 78,274.0 75,850.7 80,046.1 73,509.9 77,206.9 3 % 1 % Total Interest-Bearing Deposits 117,380.0 110,398.8 115,449.1 109,908.7 111,914.5 6 % 5 % 1,568.9 1,974.3 2,141.1 1,751.9 2,388.5 (21)% (34)% 175.6 330.5 292.2 371.5 841.4 (47)% (79)% 8,627.2 7,839.5 7,158.3 6,580.0 6,532.9 10 % 32 % 3,331.2 3,345.5 3,351.5 2,847.2 2,835.2 % 17 % 2,073.3 2,881.6 3,484.4 4,094.3 4,089.8 (28)% (49)% Total Interest-Bearing Liabilities 133,156.2 126,770.2 131,876.6 125,553.6 128,602.3 5 % 4 % 28,200.0 29,299.4 27,348.6 25,892.4 25,139.2 (4)% 12 % 4,539.4 5,517.4 4,949.6 5,861.3 5,275.6 (18)% (14)% Total Liabilities 165,895.6 161,587.0 164,174.8 157,307.3 159,017.1 3 % 4 % 13,068.4 12,739.0 12,663.5 12,706.2 12,680.8 3 % 3 % (551.7) (636.6) (590.5) (635.1) (699.2) (13)% (21)% 884.9 884.9 884.9 884.9 884.9 % % Total Stockholders' Equity 13,401.6 12,987.3 12,957.9 12,956.0 12,866.5 3 % 4 % Total Liabilities and Stockholders' Equity $ 179,297.2 $ 174,574.3 $ 177,132.7 $ 170,263.3 $ 171,883.6 3 % 4 % (1) (2) (3) (4) (5) Assets BALANCE SHEET END OF PERIOD Northern Trust Corporation ($ in Millions) 6/30/2026(5) vs. Federal Reserve and Other Central Bank Deposits Interest-Bearing Due from and Deposits with Banks(1) Federal Funds Sold and Securities Purchased under Agreements to Resell Debt Securities: Loans Other Interest-Earning Assets(2) Allowance for Credit Losses Cash and Due From Banks and Other Central Bank Deposits(3) Buildings and Equipment Goodwill Other Assets Liabilities and Stockholders' Equity Non-U.S. Offices - Interest-Bearing Federal Funds Purchased Securities Sold under Agreements to Repurchase Savings Certificates and Other Time Savings, Money Market and Other Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago . Demand and Other Noninterest-Bearing Deposits Other Borrowings(4) Senior Notes Long-Term Debt Accumulated Other Comprehensive Income (Loss) Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC. Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC. Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC. Common Equity, excluding Accumulated Other Comprehensive Income Other Liabilities Preferred Equity 4 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 Common Equity Tier 1 Capital $ 11,605.6 $ 11,173.5 $ 11,192.5 $ 11,199.3 $ 11,108.2 4 % 4 % Tier 1 Capital 12,418.7 11,995.5 12,008.5 12,028.1 11,938.5 4 % 4 % Total Capital 14,706.5 14,288.1 14,304.2 13,581.9 13,508.9 3 % 9 % Risk-Weighted Assets 95,157.3 93,150.8 89,015.4 90,033.7 91,385.4 2 % 4 % Common Equity Tier 1 Capital Ratio 12.2 % 12.0 % 12.6 % 12.4 % 12.2 % 0.2 pts pts Tier 1 Capital Ratio 13.1 % 12.9 % 13.5 % 13.4 % 13.1 % 0.2 pts pts Total Capital Ratio 15.5 % 15.3 % 16.1 % 15.1 % 14.8 % 0.2 pts 0.7 pts Common Equity Tier 1 Capital $ 11,605.6 $ 11,173.5 $ 11,192.5 $ 11,199.3 $ 11,108.2 4 % 4 % Tier 1 Capital 12,418.7 11,995.5 12,008.5 12,028.1 11,938.5 4 % 4 % Total Capital 14,516.2 14,092.9 14,105.8 13,375.2 13,285.6 3 % 9 % Risk-Weighted Assets 81,119.6 78,198.0 74,843.6 74,329.4 74,176.8 4 % 9 % Common Equity Tier 1 Capital Ratio 14.3 % 14.3 % 15.0 % 15.1 % 15.0 % pts (0.7) pts Tier 1 Capital Ratio 15.3 % 15.3 % 16.0 % 16.2 % 16.1 % pts (0.8) pts Total Capital Ratio 17.9 % 18.0 % 18.8 % 18.0 % 17.9 % (0.1) pts pts Average Adjusted Total Assets $ 162,601.3 $ 164,381.7 $ 154,083.9 $ 150,208.9 $ 156,854.5 (1)% 4 % Tier 1 Leverage Ratio 7.6 % 7.3 % 7.8 % 8.0 % 7.6 % 0.3 pts pts Supplementary Leverage Exposure $ 144,498.8 $ 141,713.4 $ 138,123.4 $ 135,904.7 $ 131,379.4 2 % 10 % Supplementary Leverage Ratio 8.6 % 8.5 % 8.7 % 8.9 % 9.1 % 0.1 pts (0.5) pts (1) REGULATORY CAPITAL(1) END OF PERIOD Northern Trust Corporation ($ in Millions) Advanced Approach Supplementary Leverage Leverage 6/30/2026 vs. Regulatory Capital, Risk-Weighted Assets and resulting ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Standardized Approach 5 % Change(5) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change(5) $ 38,322.9 $ 42,554.7 $ 35,035.8 $ 33,754.2 $ 43,655.3 (10)% (12)% $ 40,427.1 $ 40,426.1 % 6,304.2 6,014.6 6,049.6 5,237.7 5,321.5 5 % 18 % 6,160.2 5,100.7 21 % 521.9 1,186.8 1,593.7 1,300.4 713.2 (56)% (27)% 852.5 554.7 54 % Available For Sale 37,775.8 35,780.4 33,714.2 33,022.7 31,415.0 6 % 20 % 36,783.6 30,795.1 19 % Held To Maturity 23,604.2 23,883.3 23,151.0 22,129.7 20,895.9 (1)% 13 % 23,743.0 21,356.3 11 % Total Debt Securities 61,380.0 59,663.7 56,865.2 55,152.4 52,310.9 3 % 17 % 60,526.6 52,151.4 16 % 41,567.6 40,894.3 40,558.3 41,500.6 41,158.0 2 % 1 % 41,232.8 41,117.4 % 3,194.6 3,363.3 2,935.5 2,393.6 2,663.1 (5)% 20 % 3,278.5 2,586.2 27 % Total Earning Assets 151,291.2 153,677.4 143,038.1 139,338.9 145,822.0 (2)% 4 % 152,477.7 141,936.5 7 % (169.9) (175.1) (174.8) (188.0) (174.9) (3)% (3)% (172.5) (175.2) (2)% 1,313.9 1,137.0 1,185.1 1,159.3 1,069.8 16 % 23 % 1,225.9 1,055.6 16 % 453.1 459.8 462.3 468.4 479.3 (1)% (5)% 456.4 482.0 (5)% 712.5 713.5 711.0 712.6 709.1 % % 713.0 702.8 1 % 9,975.0 9,484.7 9,704.0 9,550.3 9,813.9 5 % 2 % 9,731.3 10,009.6 (3)% Total Assets $ 163,575.8 $ 165,297.3 $ 154,925.7 $ 151,041.5 $ 157,719.2 (1)% 4 % $ 164,431.8 $ 154,011.3 7 % $ 32,356.8 $ 29,244.9 $ 27,725.8 $ 28,348.7 $ 28,797.4 11 % 12 % $ 30,809.5 $ 28,261.9 9 % 5,059.1 5,785.2 6,754.3 6,700.1 6,652.0 (13)% (24)% 5,420.1 6,762.4 (20)% 70,929.3 75,261.9 67,454.2 65,354.5 70,158.0 (6)% 1 % 73,083.6 67,321.9 9 % Total Interest-Bearing Deposits 108,345.2 110,292.0 101,934.3 100,403.3 105,607.4 (2)% 3 % 109,313.2 102,346.2 7 % 2,338.3 2,576.7 2,357.7 2,467.7 2,469.0 (9)% (5)% 2,456.9 2,431.5 1 % 677.2 483.8 499.2 500.4 584.6 40 % 16 % 581.0 513.9 13 % 8,255.7 7,638.3 7,059.4 6,938.4 7,008.2 8 % 18 % 7,948.7 7,016.2 13 % 3,335.9 3,352.8 3,087.3 2,839.6 2,818.2 (1)% 18 % 3,344.3 2,800.0 19 % 2,856.9 3,472.7 3,909.8 4,092.0 4,087.8 (18)% (30)% 3,163.1 4,085.7 (23)% Total Interest-Bearing Liabilities 125,809.2 127,816.3 118,847.7 117,241.4 122,575.2 (2)% 3 % 126,807.2 119,193.5 6 % 19,500.5 18,739.8 17,894.9 16,297.3 16,770.4 4 % 16 % 19,122.2 16,820.1 14 % 5,171.5 5,980.0 5,404.7 4,795.8 5,761.5 (14)% (10)% 5,573.6 5,389.6 3 % Total Liabilities 150,481.2 152,536.1 142,147.3 138,334.5 145,107.1 (1)% 4 % 151,503.0 141,403.2 7 % 12,778.5 12,443.4 12,508.2 12,496.7 12,500.4 3 % 2 % 12,611.8 12,513.7 1 % (568.8) (567.1) (614.7) (674.6) (773.2) % (26)% (567.9) (790.5) (28)% 884.9 884.9 884.9 884.9 884.9 % % 884.9 884.9 % Total Stockholders' Equity 13,094.6 12,761.2 12,778.4 12,707.0 12,612.1 3 % 4 % 12,928.8 12,608.1 3 % Total Liabilities and Stockholders' Equity $ 163,575.8 $ 165,297.3 $ 154,925.7 $ 151,041.5 $ 157,719.2 (1)% 4 % $ 164,431.8 $ 154,011.3 7 % (1) (2) (3) (4) (5) Assets Northern Trust Corporation BALANCE SHEET TRENDS PERIOD AVERAGES ($ in Millions) Q2 2026 vs. Year-to Date Federal Reserve and Other Central Bank Deposits Interest-Bearing Due from and Deposits with Banks(1) Federal Funds Sold and Securities Purchased under Agreements to Resell Debt Securities: Loans Other Interest-Earning Assets(2) Allowance for Credit Losses Cash and Due From Banks and Other Central Bank Deposits(3) Buildings and Equipment Goodwill Other Assets Liabilities and Stockholders' Equity Savings Certificates and Other Time Non-U.S. Offices - Interest-Bearing Federal Funds Purchased Savings, Money Market and Other Other Liabilities Demand and Other Noninterest-Bearing Deposits Securities Sold under Agreements to Repurchase Other Borrowings(4) Senior Notes Long-Term Debt Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago. Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC. Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Common Equity, excluding Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss) Preferred Equity Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC. Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC. 6 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change 3.44 % 3.46 % 3.63 % 3.84 % 4.01 % (2) bps (57) bps 3.45 % 4.07 % (62) bps 1.16 % 1.31 % 1.35 % 1.57 % 1.64 % (15) bps (48) bps 1.23 % 1.79 % (56) bps 602.18 % 282.59 % 183.61 % 217.12 % 389.92 % 31,959 bps 21,226 bps 380.96 % 501.67 % (12,071) bps 4.22 % 4.18 % 4.41 % 4.60 % 4.69 % 4 bps (47) bps 4.20 % 4.71 % (51) bps 2.06 % 2.05 % 1.85 % 1.79 % 1.85 % 1 bps 21 bps 2.06 % 1.90 % 16 bps 3.39 % 3.33 % 3.37 % 3.47 % 3.56 % 6 bps (17) bps 3.36 % 3.56 % (20) bps 4.99 % 5.08 % 5.33 % 5.59 % 5.62 % (9) bps (63) bps 5.04 % 5.65 % (61) bps 3.73 % 3.62 % 4.44 % 3.81 % 3.81 % 11 bps (8) bps 3.68 % 3.85 % (17) bps 5.82 % 5.92 % 5.93 % 6.12 % 6.10 % (10) bps (28) bps 5.87 % 6.20 % (33) bps 2.58 % 2.57 % 2.72 % 3.16 % 3.10 % 1 bps (52) bps 2.58 % 3.11 % (53) bps 3.68 % 3.87 % 4.14 % 4.25 % 4.31 % (19) bps (63) bps 3.78 % 4.40 % (62) bps 1.75 % 1.89 % 1.89 % 2.19 % 2.45 % (14) bps (70) bps 1.82 % 2.52 % (70) bps 2.09 % 2.18 % 2.26 % 2.60 % 2.74 % (9) bps (65) bps 2.13 % 2.81 % (68) bps 3.36 % 3.35 % 3.59 % 3.99 % 3.97 % 1 bps (61) bps 3.36 % 3.98 % (62) bps 455.90 % 674.42 % 567.72 % 551.02 % 467.05 % (21,852) bps (1,115) bps 546.37 % 531.30 % 1,507 bps 3.88 % 4.01 % 4.17 % 4.55 % 4.60 % (13) bps (72) bps 3.94 % 4.60 % (66) bps 4.95 % 4.97 % 5.19 % 5.50 % 5.55 % (2) bps (60) bps 4.96 % 5.60 % (64) bps 5.38 % 5.35 % 5.38 % 5.46 % 5.48 % 3 bps (10) bps 5.37 % 5.50 % (13) bps 4.83 % 5.01 % 4.96 % 5.26 % 5.24 % (18) bps (41) bps 4.92 % 5.37 % (45) bps 0.99 % 0.91 % 0.97 % 0.86 % 0.86 % 8 bps 13 bps 0.95 % 0.83 % 12 bps 1.81 % 1.75 % 1.81 % 1.70 % 1.69 % 6 bps 12 bps 1.78 % 1.69 % 9 bps (1) (2) (3) (4) (5) (6) (7) Earnings Assets Northern Trust Corporation INTEREST RATE TRENDS (FTE(1) Basis) PERIOD AVERAGES Net Interest Income (FTE Adjusted), a non-GAAP financial measure, includes adjustments to a fully taxable equivalent basis for loans and securities. A reconciliation of net interest income, net interest margin, and net interest spread on a GAAP basis to net interest income, net interest margin, and net interest spread on an FTE basis, respectively, (each of which is a non-GAAP financial measure) is provided on pages 10 and 11. Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets. Net interest spread is calculated as the difference between the interest rate earned (annualized interest income divided by average interest-earning assets) and the interest rate incurred (annualized interest expense divided by average interest-related funds). Year-to Date Q2 2026 vs. Debt Securities: Federal Funds Sold and Securities Purchased under Agreements to Resell (3)(4) Interest-Bearing Due from and Deposits with Banks (2) Federal Reserve and Other Central Bank Deposits Available for Sale Held to Maturity Total Debt Securities Total Earning Assets Other Interest-Earning Assets(5) Loans and Leases Non-U.S. Offices - Interest-Bearing Savings Certificates and Other Time Savings, Money Market and Other Interest-Bearing Funds Total Interest-Bearing Deposits Excluding the impact of netting, the average interest rate on Securities Sold under Agreements to Repurchase would be approximately 3.65% for the three months ended June 30, 2026 including balances and rates for FICC repurchase agreements ($84 billion / 3.65%) and Non-FICC repurchase agreements ($0.7 billion / 3.41%). Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago. Excluding the impact of netting, the average interest rate on Federal Funds Sold and Securities Purchased under Agreements to Resell would be approximately 3.72% for the three months ended June 30, 2026 including balances and rates for FICC reverse repurchase agreements ($84.1 billion / 3.72%), Non-FICC reverse repurchase agreements ($0.4 billion / 4.04%) and federal funds sold ($0.8 million / 3.85%). Includes the impact of balance sheet netting under master netting arrangements of approximately $84 billion for the three months ended June 30, 2026, primarily related to our involvement in FICC. Northern Trust nets securities sold under repurchase agreements against those purchased under resale agreements when the GAAP requirements to net are met. Federal Funds Purchased Securities Sold under Agreements to Repurchase (3)(6) Other Borrowings(7) Total Interest-Bearing Liabilities Long-Term Debt Senior Notes Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC. Fully taxable equivalent. FTE adjustments are based on a federal income tax rate of 21%, where the rate is adjusted for applicable state income taxes, net of related federal tax benefit. Net Interest Margin Net Interest Spread Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC. 7 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 195.2 $ 198.3 $ 206.7 $ 224.1 $ 207.3 (2)% (6)% (5.3) (3.0) (8.0) (17.0) 16.5 N/M N/M (0.2) (0.4) (1.4) (2.1) (0.1) (50)% 100 % 0.6 0.3 1.0 1.7 0.4 100 % 50 % 0.4 (0.1) (0.4) (0.4) 0.3 N/M 33 % Ending Allowance for Credit Losses $ 190.3 $ 195.2 $ 198.3 $ 206.7 $ 224.1 (3)% (15)% Loans $ 160.9 $ 161.1 $ 164.3 $ 164.4 $ 180.5 % (11)% Undrawn Loan Commitments and Standby Letters of Credit 21.9 25.5 23.3 32.1 34.7 (14)% (37)% Debt Securities and Other Financial Assets 7.5 8.6 10.7 10.2 8.9 (13)% (16)% $ 190.3 $ 195.2 $ 198.3 $ 206.7 $ 224.1 (3)% (15)% $ 41,568 $ 40,894 $ 40,558 $ 41,501 $ 41,158 2 % 1 % Average Loans % % % % % bps bps $ 43,822 $ 42,506 $ 41,948 $ 42,949 $ 43,323 3 % 1 % to Total Loans 0.37 % 0.38 % 0.39 % 0.38 % 0.42 % (1) bps (5) bps $ 71.3 $ 55.0 $ 76.7 $ 78.8 $ 92.8 30 % (23)% % % $ 71.3 $ 55.0 $ 76.7 $ 78.8 $ 92.8 30 % (23)% 0.16 % 0.13 % 0.18 % 0.18 % 0.21 % 3 bps (5) bps 2.3x 2.9x 2.1x 2.1x 1.9x -0.6x 0.4x Northern Trust Corporation END OF PERIOD ASSET QUALITY ($ in Millions) Provision for Credit Losses Beginning Allowance for Credit Losses June 30, 2026 vs. (Charge-offs) Recoveries Charge-offs Recoveries Net (Charge-offs) Recoveries Allowance for Credit Losses Assigned to: Total Allowance for Credit Losses Average Loans Outstanding Annualized Loan-Related Net (Charge-offs) Recoveries to Allowance for Credit Losses Assigned to Loans End of Period Loans Outstanding Loans Allowance to Nonaccrual Nonaccrual Loans Nonaccrual Assets Other Real Estate Owned (OREO) Total Nonaccrual Assets Nonaccrual Assets to Loans and OREO 8 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 1,436.0 $ 1,287.3 $ 1,296.0 $ 1,280.1 $ 1,229.2 12 % 17 % Equities 787.0 688.3 712.6 702.5 666.7 14 % 18 % Fixed Income Securities 140.1 138.8 140.3 136.4 131.9 1 % 6 % Cash and Other Assets 269.8 244.2 235.3 235.1 225.2 10 % 20 % Securities Lending Collateral 239.1 216.0 207.8 206.1 205.4 11 % 16 % $ 533.9 $ 497.6 $ 507.2 $ 492.6 $ 468.5 7 % 14 % Equities 330.3 295.8 303.0 299.0 276.9 12 % 19 % Fixed Income Securities 96.8 94.8 94.9 93.6 91.6 2 % 6 % Cash and Other Assets 106.0 106.4 108.8 99.5 99.4 % 7 % Securities Lending Collateral 0.8 0.6 0.5 0.5 0.6 33 % 33 % $ 1,969.9 $ 1,784.9 $ 1,803.2 $ 1,772.7 $ 1,697.7 10 % 16 % Equities $ 1,117.3 $ 984.1 $ 1,015.6 $ 1,001.5 $ 943.6 14 % 18 % Fixed Income Securities 236.9 233.6 235.2 230.0 223.5 1 % 6 % Cash and Other Assets 375.8 350.6 344.1 334.6 324.6 7 % 16 % Securities Lending Collateral 239.9 216.6 208.3 206.6 206.0 11 % 16 % $ 18,635.2 $ 17,288.6 $ 17,418.4 $ 16,990.4 $ 16,864.9 8 % 10 % 1,365.0 1,265.3 1,297.7 1,257.2 1,203.4 8 % 13 % $ 20,000.2 $ 18,553.9 $ 18,716.1 $ 18,247.6 $ 18,068.3 8 % 11 % $ 14,587.7 $ 13,521.1 $ 13,604.8 $ 13,195.0 $ 13,056.5 8 % 12 % Equities 7,252.6 6,425.2 6,582.0 6,402.7 6,420.1 13 % 13 % Fixed Income Securities 4,407.1 4,305.6 4,271.9 4,140.8 4,053.4 2 % 9 % Cash and Other Assets 2,688.9 2,574.3 2,543.1 2,445.4 2,377.6 4 % 13 % Securities Lending Collateral 239.1 216.0 207.8 206.1 205.4 11 % 16 % $ 1,351.1 $ 1,254.2 $ 1,284.3 $ 1,244.1 $ 1,187.2 8 % 14 % Equities 840.1 751.4 777.0 763.8 736.7 12 % 14 % Fixed Income Securities 171.1 161.8 163.9 157.1 149.6 6 % 14 % Cash and Other Assets 339.1 340.4 342.9 322.7 300.3 % 13 % Securities Lending Collateral 0.8 0.6 0.5 0.5 0.6 33 % 33 % $ 15,938.8 $ 14,775.3 $ 14,889.1 $ 14,439.1 $ 14,243.7 8 % 12 % Equities $ 8,092.7 $ 7,176.6 $ 7,359.0 $ 7,166.5 $ 7,156.8 13 % 13 % Fixed Income Securities 4,578.2 4,467.4 4,435.8 4,297.9 4,203.0 2 % 9 % Cash and Other Assets 3,028.0 2,914.7 2,886.0 2,768.1 2,677.9 4 % 13 % Securities Lending Collateral 239.9 216.6 208.3 206.6 206.0 11 % 16 % $ 201.8 $ 187.5 $ 194.4 $ 186.1 $ 176.1 8 % 15 % 955.3 883.5 908.2 875.8 836.7 8 % 14 % (1) Northern Trust Corporation END OF PERIOD CLIENT ASSETS(1) ($ in Billions) Wealth Management Total Assets Under Custody / Administration Asset Servicing Assets Under Custody / Administration June 30, 2026 vs. Asset Servicing Asset allocation: Wealth Management Asset allocation: Asset allocation: Total Assets Under Management Assets Under Management Asset allocation: Assets Under Custody Asset Servicing Asset allocation: Wealth Management Client Assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Asset allocation: Total Assets Under Custody WM Global Family Office AUM WM Global Family Office AUC Memo 9 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 2,189.3 $ 2,234.0 $ 2,126.6 $ 2,144.3 $ 2,212.8 (2)% (1)% $ 4,423.4 $ 4,353.7 2 % 7.6 7.6 12.7 5.5 4.7 % 62 % 15.2 10.3 48 % Interest Income (FTE) - Non-GAAP 2,196.9 2,241.6 2,139.3 2,149.8 2,217.5 (2)% (1)% 4,438.6 4,364.0 2 % 675.5 654.0 641.6 590.8 610.5 3 % 11 % 1,329.5 1,178.6 13 % 7.6 7.6 12.7 5.5 4.7 % 62 % 15.2 10.3 48 % Net Interest Income (FTE) - Non-GAAP 683.1 661.6 654.3 596.3 615.2 3 % 11 % 1,344.7 1,188.9 13 % 2,698.0 2,205.6 2,123.1 2,025.4 1,997.9 22 % 35 % 4,903.7 3,937.9 25 % 7.6 7.6 12.7 5.5 4.7 % 62 % 15.2 10.3 48 % Total Revenue (FTE) - Non-GAAP 2,705.6 2,213.2 2,135.8 2,030.9 2,002.6 22 % 35 % 4,918.9 3,948.2 25 % 1,064.7 700.6 633.8 619.5 564.8 52 % 89 % 1,765.4 1,086.2 63 % 7.6 7.6 12.7 5.5 4.7 % 62 % 15.2 10.3 48 % Income before Income Taxes (FTE) - Non-GAAP 1,072.3 708.2 646.5 625.0 569.5 51 % 88 % 1,780.6 1,096.5 62 % 272.5 175.1 167.8 161.9 143.5 56 % 90 % 447.6 272.9 64 % 7.6 7.6 12.7 5.5 4.7 % 62 % 15.2 10.3 48 % Provision for Income Taxes (FTE) - Non-GAAP 280.1 182.7 180.5 167.4 148.2 53 % 89 % 462.8 283.2 63 % ($ in Millions) RECONCILIATION TO FULLY TAXABLE EQUIVALENT Northern Trust Corporation % Change Q2 2026 vs. Northern Trust presents certain financial measures on a fully taxable equivalent (FTE) basis, which is a non-generally accepted accounting principle (GAAP). Management believes an FTE presentation provides a clearer indication of these financial measures for comparative purposes. Net interest income (FTE) Non-GAAP and net interest margin (FTE) Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income, consistent with industry practice. The adjustments are based on the federal income tax rate, where the rate is adjusted for applicable state income taxes, net of related federal tax benefit. When adjusted to an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income. Below is a reconciliation of the financial measures presented on an FTE basis. Income before Income Taxes - GAAP Add: FTE Adjustment Add: FTE Adjustment Provision for Income Taxes - GAAP Year-to Date Interest Income - GAAP Add: FTE Adjustment Add: FTE Adjustment Net Interest Income - GAAP Add: FTE Adjustment Total Revenue - GAAP 10 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q4 2025 Q1 2025 2026 2025 Change Pre-Tax Margin - GAAP (1) 39.5 % 31.8 % 29.9 % 30.6 % 28.3 % 7.7 pts 11.2 pts 36.0 % 27.6 % 8.4 pts Pre-Tax Margin (FTE) - Non-GAAP (1) 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % 7.6 pts 11.2 pts 36.2 % 27.8 % 8.4 pts Effective Tax Rate - GAAP (2) 25.6 % 25.0 % 26.5 % 26.1 % 25.4 % 0.6 pts 0.2 pts 25.4 % 25.1 % 0.3 pts Effective Tax Rate (FTE) - Non-GAAP (2) 26.1 % 25.8 % 27.9 % 26.8 % 26.0 % 0.3 pts 0.1 pts 26.0 % 25.8 % 0.2 pts Noninterest Income to Total Revenue - GAAP (3) 75.0 % 70.4 % 69.8 % 70.8 % 69.4 % 4.6 pts 5.6 pts 72.9 % 70.1 % 2.8 pts Noninterest Income to Total Revenue (FTE) - Non-GAAP (3) 74.8 % 70.1 % 69.4 % 70.6 % 69.3 % 4.7 pts 5.5 pts 72.7 % 69.9 % 2.8 pts Trust Fees to Total Revenue - GAAP (4) 50.0 % 60.8 % 61.6 % 62.5 % 61.6 % (10.8) pts (11.6) pts 54.9 % 62.1 % (7.2) pts Trust Fees to Total Revenue (FTE) - Non-GAAP (4) 49.9 % 60.6 % 61.2 % 62.3 % 61.5 % (10.7) pts (11.6) pts 54.7 % 61.9 % (7.2) pts Net Interest Spread - GAAP (5) 0.97 % 0.89 % 0.94 % 0.85 % 0.85 % 0.08 pts 0.12 pts 0.93 % 0.83 % 0.10 pts Net Interest Spread (FTE) - Non-GAAP (5) 0.99 % 0.91 % 0.97 % 0.86 % 0.86 % 0.08 pts 0.13 pts 0.95 % 0.83 % 0.12 pts Net Interest Margin - GAAP (6) 1.79 % 1.73 % 1.78 % 1.68 % 1.68 % 0.06 pts 0.11 pts 1.76 % 1.67 % 0.09 pts Net Interest Margin (FTE) - Non-GAAP (6) 1.81 % 1.75 % 1.81 % 1.70 % 1.69 % 0.06 pts 0.12 pts 1.78 % 1.69 % 0.09 pts (1) (2) (3) (4) (5) (6) Pre-Tax Margin is calculated by dividing income before income taxes by total revenue. Pre-Tax Margin on an FTE basis is calculated by dividing income before income taxes on an FTE basis by total revenue on an FTE basis. RATIOS RECONCILIATION TO FULLY TAXABLE EQUIVALENT Northern Trust Corporation Northern Trust presents certain financial measures on a fully taxable equivalent (FTE) basis, which is a non-generally accepted accounting principle (GAAP). Management believes an FTE presentation provides a clearer indication of these financial measures for comparative purposes. Net interest income (FTE) Non-GAAP and net interest margin (FTE) Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income, consistent with industry practice. The adjustments are based on the federal income tax rate, where the rate is adjusted for applicable state income taxes, net of related federal tax benefit. When adjusted to an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income. Below is a reconciliation of the financial ratios presented on an FTE basis. Q2 2026 vs. Year-to Date Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets. Net interest margin on an FTE basis is calculated by dividing annualized net interest income on an FTE basis by average interest-earning assets. Effective tax rate is calculated by dividing the provision for income taxes by income before income taxes. Effective tax rate on an FTE basis is calculated by dividing the provision for income taxes on an FTE basis by income before income taxes on an FTE basis. Noninterest income to total revenue is calculated by dividing noninterest income by total revenue. Noninterest income to total revenue on an FTE basis is calculated by dividing noninterest income by total revenue on an FTE basis. Trust fees to total revenue is calculated by dividing total trust, investment and other servicing fees by total revenue. Trust fees to total revenue on an FTE basis is calculated by dividing total trust, investment and other servicing fees by total revenue on an FTE basis. Net interest spread is calculated as the difference between the interest rate earned (annualized interest income divided by average interest-earning assets) and the interest rate incurred (annualized interest expense divided by average interest-related funds). Net interest spread on an FTE basis is calculated as the difference between the interest rate earned (annualized interest income on an FTE basis divided by average interest-earning assets) and the interest rate incurred (annualized interest expense divided by average interest-related funds). 11