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The Bank of New York Mellon Corporation
Financial Supplement
Fourth Quarter 2025



Table of Contents
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Consolidated ResultsPage
Consolidated Financial Highlights
Condensed Consolidated Income Statement
Condensed Consolidated Balance Sheet
Fee and Other Revenue
Average Balances and Interest Rates
Capital and Liquidity
Business Segment Results
Securities Services Business Segment
Market and Wealth Services Business Segment
Investment and Wealth Management Business Segment
AUM by Product Type, Changes in AUM and Wealth Management Client Assets
Other Segment
Other
Securities Portfolio
Allowance for Credit Losses and Nonperforming Assets
Supplemental Information
Explanation of GAAP and Non-GAAP Financial Measures



THE BANK OF NEW YORK MELLON CORPORATION

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CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per common share amounts, or unless otherwise noted)4Q25 vs.FY25 vs.
4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Selected income statement data
Fee and other revenue$3,833 $3,845 $3,825 $3,633 $3,653 —%5%$15,136 $14,307 6%
Net interest income1,346 1,236 1,203 1,159 1,194 9 13 4,944 4,312 15 
Total revenue5,179 5,081 5,028 4,792 4,847 2 7 20,080 18,619 8 
Provision for credit losses(26)(7)(17)18 20 N/MN/M(32)70 N/M
Noninterest expense3,360 3,236 3,206 3,252 3,355 4 — 13,054 12,701 3 
Income before income taxes1,845 1,852 1,839 1,522 1,472 — 25 7,058 5,848 21 
Provision for income taxes376 395 404 300 315 (5)19 1,475 1,305 13 
Net income$1,469 $1,457 $1,435 $1,222 $1,157 1 %27%$5,583 $4,543 23%
Net income applicable to common shareholders of The Bank of New York Mellon Corporation$1,427 $1,339 $1,391 $1,149 $1,130 7%26%$5,306 $4,336 22%
Diluted earnings per common share$2.02 $1.88 $1.93 $1.58 $1.54 7%31%$7.40 $5.80 28%
Average common shares and equivalents outstanding – diluted (in thousands)
705,140 712,854 720,007 727,398 733,720 (1)%(4)%716,718 748,101 (4)%
Financial ratios (Quarterly returns are annualized)
Pre-tax operating margin36%36%37%32%30%35%31%
Return on common equity14.5%13.7%14.7%12.6%12.2%13.9%11.9%
Return on tangible common equity – Non-GAAP (a)
26.6%25.6%27.8%24.2%23.3%26.1%22.8%
Non-U.S. revenue as a percentage of total revenue 36%35%36%33%35%35%35%
Period end
Assets under custody and/or administration (“AUC/A”) (in trillions) (b)
$59.3 $57.8 $55.8 $53.1 $52.1 3%14%
Assets under management (“AUM”) (in trillions)
$2.2 $2.1 $2.1 $2.0 $2.0 2%7%
Full-time employees48,100 49,200 49,900 51,000 51,800 (2)%(7)%
Book value per common share$57.36 $55.99 $54.76 $52.82 $51.52 
Tangible book value per common share – Non-GAAP (a)
$31.64 $30.60 $29.57 $28.20 $27.05 
Cash dividends per common share$0.53 $0.53 $0.47 $0.47 $0.47 
Common dividend payout ratio26%28%25%30%31%
Closing stock price per common share$116.09 $108.96 $91.11 $83.87 $76.83 
Market capitalization$79,897 $75,983 $64,254 $60,003 $55,139 
Common shares outstanding (in thousands)
688,236 697,349 705,241 715,434 717,680 
Capital ratios at period end (c)
Common Equity Tier 1 (“CET1”) ratio11.9%11.7%11.5%11.5%11.2%
Tier 1 capital ratio14.6%14.4%14.5%14.6%13.7%
Total capital ratio15.4%15.3%15.5%15.7%14.8%
Tier 1 leverage ratio6.0%6.1%6.1%6.2%5.7%
Supplementary leverage ratio (“SLR”)6.7%6.7%6.9%6.9%6.5%
(a) Non-GAAP information, for all periods presented, excludes goodwill and intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of Non-GAAP measures.
(b) Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.2 trillion at Dec. 31, 2025, $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025 and $1.8 trillion at Dec. 31, 2024.
(c) Regulatory capital ratios for Dec. 31, 2025 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for the periods presented, was the Standardized Approach.
N/M – Not meaningful.
3


THE BANK OF NEW YORK MELLON CORPORATION
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CONDENSED CONSOLIDATED INCOME STATEMENT
(dollars in millions, except per share amounts; common shares in thousands)4Q25 vs.FY25 vs.
4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Revenue
Investment services fees$2,632 $2,585 $2,583 $2,411 $2,438 2%8%$10,211 $9,419 8%
Investment management and performance fees806 782 758 739 808 3 — 3,085 3,139 (2)
Foreign exchange revenue171 166 213 156 177 3 (3)706 688 3 
Financing-related fees53 67 51 60 53 (21)— 231 216 7 
Distribution and servicing fees36 37 36 37 37 (3)(3)146 158 (8)
Total fee revenue3,698 3,637 3,641 3,403 3,513 2 5 14,379 13,620 6 
Investment and other revenue135 208 184 230 140 N/MN/M757 687 N/M
Total fee and other revenue3,833 3,845 3,825 3,633 3,653 — 5 15,136 14,307 6 
Net interest income1,346 1,236 1,203 1,159 1,194 9 13 4,944 4,312 15 
Total revenue5,179 5,081 5,028 4,792 4,847 2 7 20,080 18,619 8 
Provision for credit losses(26)(7)(17)18 20 N/MN/M(32)70 N/M
Noninterest expense
Staff1,812 1,745 1,768 1,834 1,817 4 — 7,159 7,130 — 
Software and equipment565 542 527 513 520 4 9 2,147 1,962 9 
Professional, legal and other purchased services429 404 388 366 410 6 5 1,587 1,503 6 
Sub-custodian and clearing139 141 150 131 128 (1)9 561 498 13 
Net occupancy 143 140 132 136 149 2 (4)551 537 3 
Distribution and servicing73 68 63 65 87 7 (16)269 361 (25)
Business development71 45 53 48 54 58 31 217 188 15 
Bank assessment charges(22)6 22 38 16 N/MN/M44 36 N/M
Amortization of intangible assets11 12 11 11 13 (8)(15)45 50 (10)
Other139 133 92 110 161 5 (14)474 436 9 
Total noninterest expense3,360 3,236 3,206 3,252 3,355 4 — 13,054 12,701 3 
Income before income taxes 1,845 1,852 1,839 1,522 1,472 — 25 7,058 5,848 21 
Provision for income taxes 376 395 404 300 315 (5)19 1,475 1,305 13 
Net income 1,469 1,457 1,435 1,222 1,157 1 27 5,583 4,543 23 
Net (income) attributable to noncontrolling interests(8)(12)(12)(2)(2)N/MN/M(34)(13)N/M
Preferred stock dividends(34)(106)(32)(71)(25)N/MN/M(243)(194)N/M
Net income applicable to common shareholders of The Bank of New York Mellon Corporation$1,427 $1,339 $1,391 $1,149 $1,130 7%26%$5,306 $4,336 22%
Average common shares and equivalents outstanding: Basic697,540 705,873 714,799 720,951 726,568 (1)%(4)%710,177 742,588 (4)%
Diluted705,140 712,854 720,007 727,398 733,720 (1)%(4)%716,718 748,101 (4)%
Earnings per common share: Basic$2.04 $1.90 $1.95 $1.59 $1.56 7%31%$7.47 $5.84 28%
Diluted$2.02 $1.88 $1.93 $1.58 $1.54 7%31%$7.40 $5.80 28%
N/M – Not meaningful.
4


THE BANK OF NEW YORK MELLON CORPORATION
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CONDENSED CONSOLIDATED BALANCE SHEET
20252024
(dollars in millions)Dec. 31Sept. 30June 30March 31Dec. 31
Assets
Cash and due from banks$5,111 $5,055 $5,699 $5,354 $4,178 
Interest-bearing deposits with the Federal Reserve and other central banks116,009 106,368 135,602 102,303 89,546 
Interest-bearing deposits with banks10,397 11,027 12,069 11,945 9,612 
Federal funds sold and securities purchased under resale agreements44,892 41,863 45,547 41,316 41,146 
Securities150,200 149,528 147,068 145,385 136,627 
Trading assets14,276 13,625 12,610 11,978 13,981 
Loans80,615 75,195 73,096 71,404 71,570 
Allowance for loan losses(245)(272)(275)(295)(294)
Net loans
80,370 74,923 72,821 71,109 71,276 
Premises and equipment3,581 3,549 3,289 3,257 3,266 
Accrued interest receivable1,435 1,426 1,348 1,302 1,293 
Goodwill16,767 16,773 16,823 16,661 16,598 
Intangible assets2,822 2,834 2,849 2,846 2,851 
Other assets26,440 28,341 30,056 27,235 25,690 
Total assets
$472,300 $455,312 $485,781 $440,691 $416,064 
Liabilities
Deposits$331,894 $314,697 $346,393 $308,644 $289,524 
Federal funds purchased and securities sold under repurchase agreements18,992 16,585 15,492 15,663 14,064 
Trading liabilities6,135 3,499 6,134 4,580 4,865 
Payables to customers and broker-dealers21,872 23,638 21,273 22,244 20,073 
Commercial paper2,003 2,364 2,361 1,662 301 
Other borrowed funds422 283 293 212 225 
Accrued taxes and other expenses5,544 4,920 4,634 4,438 5,270 
Other liabilities8,757 12,678 11,233 8,756 9,124 
Long-term debt31,873 32,287 33,429 30,869 30,854 
Total liabilities
427,492 410,951 441,242 397,068 374,300 
Temporary equity
Redeemable noncontrolling interests87 111 111 94 87 
Permanent equity
Preferred stock4,836 4,836 5,331 5,331 4,343 
Common stock14 14 14 14 14 
Additional paid-in capital29,907 29,795 29,659 29,535 29,321 
Retained earnings46,396 45,346 44,388 43,343 42,537 
Accumulated other comprehensive loss, net of tax(3,035)(3,362)(3,549)(4,115)(4,656)
Less: Treasury stock, at cost
(33,805)(32,750)(31,893)(30,989)(30,241)
Total The Bank of New York Mellon Corporation shareholders’ equity44,313 43,879 43,950 43,119 41,318 
Nonredeemable noncontrolling interests of consolidated investment management funds
408 371 478 410 359 
Total permanent equity
44,721 44,250 44,428 43,529 41,677 
Total liabilities, temporary equity and permanent equity
$472,300 $455,312 $485,781 $440,691 $416,064 
5


THE BANK OF NEW YORK MELLON CORPORATION
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FEE AND OTHER REVENUE
4Q25 vs.FY25 vs.
(dollars in millions)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Investment services fees$2,632 $2,585 $2,583 $2,411 $2,438 2%8%$10,211 $9,419 8%
Investment management and performance fees:
Investment management fees (a)
792 776 748 734 788 213,050 3,088 (1)
Performance fees14 6 10 5 20 N/MN/M35 51 N/M
Total investment management and performance fees (b)
806 782 758 739 808 3—3,085 3,139 (2)
Foreign exchange revenue171 166 213 156 177 3(3)706 688 3
Financing-related fees53 67 51 60 53 (21)— 231 216 7
Distribution and servicing fees36 37 36 37 37 (3)(3)146 158 (8)
Total fee revenue3,698 3,637 3,641 3,403 3,513 2514,379 13,620 6
Investment and other revenue:
Income (loss) from consolidated investment management funds19 23 35 6 (5)N/MN/M83 46 N/M
Seed capital gains (losses) (c)
4 8 8 (6)3 N/MN/M14 20 N/M
Other trading revenue76 73 59 71 89 N/MN/M279 314 N/M
Renewable energy investment gains6 19 15 15 5 N/MN/M55 25 N/M
Corporate/bank-owned life insurance51 41 35 38 47 N/MN/M165 137 N/M
Other investments (losses) gains (d)
(43)7 26 24 8 N/MN/M14 67 N/M
Disposal gains— 12 — 40 — N/MN/M52 — N/M
Expense reimbursements from joint venture35 36 34 31 29 N/MN/M136 118 N/M
Other income2 19 7 11 14 N/MN/M39 45 N/M
Net securities (losses)(15)(30)(35)— (50)N/MN/M(80)(85)N/M
Total investment and other revenue135 208 184 230 140 N/MN/M757 687 N/M
Total fee and other revenue$3,833 $3,845 $3,825 $3,633 $3,653 —%5%$15,136 $14,307 6%
(a) Excludes seed capital gains (losses) related to consolidated investment management funds.
(b) On a constant currency basis, investment management and performance fees decreased 1% (Non-GAAP) compared with 4Q24. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(c) Includes gains (losses) on investments in BNY funds which hedge deferred incentive awards.
(d) Includes strategic equity, private equity and other investments.
N/M – Not meaningful.

6


THE BANK OF NEW YORK MELLON CORPORATION
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AVERAGE BALANCES AND INTEREST RATES
4Q253Q252Q251Q254Q24
Average balanceAverage rateAverage balanceAverage rateAverage balanceAverage rateAverage balanceAverage rateAverage balanceAverage rate
(dollars in millions; average rates are annualized)
Assets
Interest-earning assets:
Interest-bearing deposits with the Federal Reserve and other central banks$97,489 3.38%$94,533 3.69%$99,426 3.73%$86,038 3.84%$94,337 4.18%
Interest-bearing deposits with banks11,440 2.53 10,980 2.97 11,199 3.10 10,083 3.39 10,479 3.54 
Federal funds sold and securities purchased under resale agreements43,363 26.99 (a)40,885 30.66 (a)39,522 32.23 (a)41,166 28.79 (a)37,939 31.22 (a)
Loans76,678 5.46 72,692 5.80 71,265 5.81 69,670 5.80 69,211 6.17 
Securities:
U.S. government obligations33,726 3.49 31,754 3.59 29,279 3.63 26,614 3.49 27,223 3.47 
U.S. government agency obligations61,578 3.29 61,174 3.40 62,874 3.36 63,514 3.27 63,166 3.31 
Other securities55,119 3.54 54,986 3.61 54,610 3.58 51,403 3.62 49,675 3.76 
Total investment securities150,423 3.43 147,914 3.52 146,763 3.49 141,531 3.44 140,064 3.50 
Trading securities (b)
7,896 4.82 7,489 5.02 7,367 4.84 6,199 5.29 5,738 6.13 
Total securities (b)
158,319 3.50 155,403 3.59 154,130 3.56 147,730 3.52 145,802 3.61 
Total interest-earning assets (b)
$387,289 6.46%$374,493 6.98%$375,542 7.03%$354,687 6.97%$357,768 7.18%
Noninterest-earning assets63,924 62,998 63,066 61,157 62,576 
Total assets$451,213 $437,491 $438,608 $415,844 $420,344 
Liabilities and equity
Interest-bearing liabilities:
Interest-bearing deposits$258,640 2.58%$248,016 2.90%$250,688 2.95%$234,394 2.98%$235,281 3.27%
Federal funds purchased and securities sold under repurchase agreements18,105 57.66 (a)16,242 69.11 (a)17,485 65.95 (a)17,566 60.25 (a)17,599 60.52 (a)
Trading liabilities2,839 4.03 3,333 4.40 2,821 4.94 2,063 4.56 1,887 4.61 
Other borrowed funds339 4.57 243 4.63 432 5.06 288 5.93 484 2.32 
Commercial paper2,310 4.32 3,268 4.63 2,511 4.56 1,279 4.51 2,336 4.83 
Payables to customers and broker-dealers16,764 4.02 16,434 4.34 15,494 4.19 15,142 4.21 13,672 4.77 
Long-term debt32,135 5.09 32,503 5.53 31,805 5.64 31,216 5.57 31,506 5.58 
Total interest-bearing liabilities$331,132 5.94%$320,039 6.64%$321,236 6.74%$301,948 6.66%$302,765 6.92%
Total noninterest-bearing deposits51,842 51,310 49,610 48,141 51,207 
Other noninterest-bearing liabilities23,858 21,674 24,073 23,808 24,790 
Total The Bank of New York Mellon Corporation shareholders’ equity43,978 43,974 43,223 41,542 41,266 
Noncontrolling interests403 494 466 405 316 
Total liabilities and equity$451,213 $437,491 $438,608 $415,844 $420,344 
Net interest margin1.38%1.31%1.27%1.30%1.32%
Net interest margin (FTE) – Non-GAAP (c)
1.38%1.31%1.27%1.30%1.32%
(a) Includes the average impact of offsetting under enforceable netting agreements of approximately $242 billion for 4Q25, $241 billion for 3Q25, $247 billion for 2Q25, $224 billion for 1Q25 and $208 billion for 4Q24. On a Non-GAAP basis, excluding the impact of offsetting, the yield on federal funds sold and securities purchased under resale agreements would have been 4.11% for 4Q25, 4.45% for 3Q25, 4.45% for 2Q25, 4.46% for 1Q25 and 4.82% for 4Q24. On a Non-GAAP basis, excluding the impact of offsetting, the rate on federal funds purchased and securities sold under repurchase agreements would have been 4.02% for 4Q25, 4.36% for 3Q25, 4.36% for 2Q25, 4.37% for 1Q25 and 4.73% for 4Q24. We believe providing the rates excluding the impact of netting is useful to investors as it is more reflective of the actual rates earned and paid.
(b) Average rates were calculated on an FTE basis, at tax rates of approximately 21%.
(c) See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
7


THE BANK OF NEW YORK MELLON CORPORATION
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CAPITAL AND LIQUIDITY
20252024
(dollars in millions)Dec. 31Sept. 30June 30March 31Dec. 31
Consolidated regulatory capital ratios: (a)
Standardized Approach:
CET1 capital$21,087 $20,645 $20,149 $19,505 $18,759 
Tier 1 capital25,910 25,471 25,472 24,783 23,039 
Total capital27,391 27,079 27,243 26,581 24,818 
Risk-weighted assets177,588 176,432 175,668 169,262 167,786 
CET1 ratio11.9%11.7%11.5%11.5%11.2%
Tier 1 capital ratio14.6 14.4 14.5 14.6 13.7 
Total capital ratio15.4 15.3 15.5 15.7 14.8 
Advanced Approaches:
CET1 capital$21,087 $20,645 $20,149 $19,505 $18,759 
Tier 1 capital25,910 25,471 25,472 24,783 23,039 
Total capital27,047 26,734 26,897 26,246 24,535 
Risk-weighted assets162,959 168,841 168,748 162,234 160,472 
CET1 ratio12.9%12.2%11.9%12.0%11.7%
Tier 1 capital ratio15.9 15.1 15.1 15.3 14.4 
Total capital ratio16.6 15.8 15.9 16.2 15.3 
Tier 1 leverage ratio: (a)
Average assets for Tier 1 leverage ratio$432,804 $419,077 $420,131 $397,513 $402,069 
Tier 1 leverage ratio6.0%6.1%6.1%6.2%5.7%
SLR: (a)
Leverage exposure$388,733 $377,728 $369,838 $359,666 $353,523 
SLR6.7%6.7%6.9%6.9%6.5%
Average liquidity coverage ratio (a)
112%112%112%116%115%
Average net stable funding ratio (a)
130%130%131%132%132%
(a) Regulatory capital and liquidity ratios for Dec. 31, 2025 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for the periods presented, was the Standardized Approach.
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THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES SERVICES BUSINESS SEGMENT
4Q25 vs.FY25 vs.
(dollars in millions)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Revenue:
Investment services fees:
Asset Servicing$1,159 $1,141 $1,094 $1,062 $1,042 2%11%$4,456 $4,094 9%
Issuer Services331 313 376 267 295 6 12 1,287 1,163 11 
Total investment services fees1,490 1,454 1,470 1,329 1,337 2 11 5,743 5,257 9 
Foreign exchange revenue142 143 175 136 147 (1)(3)596 552 8 
Other fees (a)
68 73 60 65 62 (7)10 266 234 14 
Total fee revenue1,700 1,670 1,705 1,530 1,546 2 10 6,605 6,043 9 
Investment and other revenue62 119 94 140 97 N/MN/M415 405 N/M
Total fee and other revenue1,762 1,789 1,799 1,670 1,643 (2)7 7,020 6,448 9 
Net interest income735 670 675 630 681 10 8 2,710 2,468 10 
Total revenue2,497 2,459 2,474 2,300 2,324 2 7 9,730 8,916 9 
Provision for credit losses(13)(3)(13)8 15 N/MN/M(21)38 N/M
Noninterest expense (ex. amortization of intangible assets)1,665 1,649 1,613 1,578 1,659 1 — 6,505 6,286 3 
Amortization of intangible assets7 7 7 6 7 — — 27 28 (4)
Total noninterest expense1,672 1,656 1,620 1,584 1,666 1 — 6,532 6,314 3 
Income before income taxes$838 $806 $867 $708 $643 4%30%$3,219 $2,564 26%
Total revenue by line of business:
Asset Servicing$1,945 $1,915 $1,870 $1,786 $1,797 2%8%$7,516 $6,872 9%
Issuer Services552 544 604 514 527 1 5 2,214 2,044 8 
Total revenue by line of business$2,497 $2,459 $2,474 $2,300 $2,324 2%7%$9,730 $8,916 9%
Financial ratios:
Pre-tax operating margin34%33%35%31%28%33%29%
Memo: Securities lending revenue (b)
$69 $62 $56 $52 $52 11%33%$239 $191 25%
(a) Other fees primarily include financing-related fees.
(b) Included in investment services fees reported in the Asset Servicing line of business.
N/M – Not meaningful.
9


THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES SERVICES BUSINESS SEGMENT
4Q25 vs.FY25 vs.
(dollars in millions, unless otherwise noted)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Selected balance sheet data:
Average loans$11,439 $10,706 $11,327 $11,347 $11,553 7%(1)%$11,204 $11,235 —%
Average assets (a)
$212,227 $202,454 $206,552 $194,901 $200,277 5%6%$204,077 $196,740 4%
Average deposits$192,796 $183,081 $185,831 $175,854 $180,843 5%7%$184,433 $178,643 3%
Selected metrics:
AUC/A at period end (in trillions) (b)(c)
$43.0 $41.7 $40.1 $38.1 $37.7 3%14%$43.0 $37.7 14%
Market value of securities on loan at period end (in billions) (d)
$604 $554 $516 $504 $488 9%24%$604 $488 24%
Issuer Services
Total debt serviced at period end (in trillions)
$14.8 $14.5 $14.3 $13.9 $14.1 2%5%$14.8 $14.1 5%
Number of Depositary Receipts programs at period end (e)
1,614 1,601 1,568 1,576 1,576 1%2%1,614 1,576 2%
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Dec. 31, 2025 information is preliminary.
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon of $2.2 trillion at Dec. 31, 2025, $2.1 trillion at Sept. 30, 2025, $2.0 trillion at June 30, 2025, $1.9 trillion at March 31, 2025 and $1.8 trillion at Dec. 31, 2024.
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $74 billion at Dec. 31, 2025, $81 billion at Sept. 30, 2025, $68 billion at June 30, 2025, $62 billion at March 31, 2025 and $60 billion at Dec. 31, 2024.
(e) Beginning in 4Q25, the previously reported metric for the Issuer Services line of business, Number of sponsored Depositary Receipts programs, has been replaced with a new metric, Number of Depositary Receipts programs.
10


THE BANK OF NEW YORK MELLON CORPORATION
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MARKET AND WEALTH SERVICES BUSINESS SEGMENT
4Q25 vs.FY25 vs.
(dollars in millions)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Revenue:
Investment services fees:
Pershing$505 $508 $513 $503 $516 (1)%(2)%$2,029 $1,947 4%
Payments and Trade (a)
212 214 209 209 206 (1)3 844 792 7 
Clearance and Collateral Management417 398 385 362 364 5 15 1,562 1,385 13 
Total investment services fees1,134 1,120 1,107 1,074 1,086 1 4 4,435 4,124 8 
Foreign exchange revenue28 31 30 29 27 (10)4 118 97 22 
Other fees (b)
65 70 63 65 61 (7)7 263 235 12 
Total fee revenue1,227 1,221 1,200 1,168 1,174 — 5 4,816 4,456 8 
Investment and other revenue9 22 36 21 19 N/MN/M88 79 N/M
Total fee and other revenue1,236 1,243 1,236 1,189 1,193 (1)4 4,904 4,535 8 
Net interest income569 524 506 497 474 9 20 2,096 1,729 21 
Total revenue1,805 1,767 1,742 1,686 1,667 2 8 7,000 6,264 12 
Provision for credit losses(7)(3)(6)4 9 N/MN/M(12)19 N/M
Noninterest expense (ex. amortization of intangible assets)929 894 897 865 851 4 9 3,585 3,349 7 
Amortization of intangible assets1 1 — 1 1 — — 3 4 (25)
Total noninterest expense930 895 897 866 852 4 9 3,588 3,353 7 
Income before income taxes$882 $875 $851 $816 $806 1%9%$3,424 $2,892 18%
Total revenue by line of business:
Pershing$741 $729 $739 $719 $705 2%5%$2,928 $2,687 9%
Payments and Trade (a)
524 510 490 477 471 3 11 2,001 1,737 15 
Clearance and Collateral Management540 528 513 490 491 2 10 2,071 1,840 13 
Total revenue by line of business$1,805 $1,767 $1,742 $1,686 $1,667 2%8%$7,000 $6,264 12%
Financial ratios:
Pre-tax operating margin49%50%49%48%48%49%46%
(a) Formerly Treasury Services.
(b) Other fees primarily include financing-related fees.
N/M – Not meaningful.

11


THE BANK OF NEW YORK MELLON CORPORATION
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MARKET AND WEALTH SERVICES BUSINESS SEGMENT
4Q25 vs.FY25 vs.
(dollars in millions, unless otherwise noted)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Selected balance sheet data:
Average loans$49,613 $46,278 $44,262 $42,986 $42,217 7%18%$45,804 $41,533 10%
Average assets (a)
$144,606 $137,103 $135,119 $129,244 $126,919 5%14%$136,561 $124,448 10%
Average deposits$101,751 $97,497 $96,566 $91,905 $90,980 4%12%$96,958 $90,185 8%
Selected metrics:
AUC/A at period end (in trillions) (b)(c)
$15.9 $15.8 $15.4 $14.7 $14.1 1%13%$15.9 $14.1 13%
Pershing
AUC/A at period end (in trillions) (b)
$3.0 $3.0 $2.8 $2.7 $2.7 —%11%$3.0 $2.7 11%
Net new assets (U.S. platform) (in billions) (d)
$51 $3 $(10)$11 $41 N/MN/M$55 $(6)N/M
Daily average revenue trades (“DARTs”) (U.S. platform) (in thousands)
285 269 334 298 254 6%12%296 269 10%
Average active clearing accounts (in thousands)
8,487 8,387 8,405 8,406 8,260 1%3%8,421 8,098 4%
Payments and Trade (e)
Average daily U.S. dollar payment volumes258,080 246,286 246,250 244,673 250,714 5%3%248,808 242,997 2%
Clearance and Collateral Management
Average collateral balances (in billions)
$7,453 $7,275 $7,061 $6,576 $6,463 2%15%$7,091 $6,217 14%
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Dec. 31, 2025 information is preliminary.
(c) Consists of AUC/A from the Clearance and Collateral Management and Pershing lines of business.
(d) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer.
(e) Formerly Treasury Services.
N/M – Not meaningful.
12


THE BANK OF NEW YORK MELLON CORPORATION
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INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT
4Q25 vs.FY25 vs.
(dollars in millions)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
Revenue:
Investment management fees (a)
$793 $776 $748 $735 $789 2%1%$3,052 $3,093 (1)%
Performance fees14 6 10 5 20 N/MN/M35 51 N/M
Investment management and performance fees (b)
807 782 758 740 809 3 — 3,087 3,144 (2)
Distribution and servicing fees69 69 69 68 68 — 1 275 275 — 
Other fees (c)
(84)(78)(76)(75)(64)N/MN/M(313)(256)N/M
Total fee revenue792 773 751 733 813 2 (3)3,049 3,163 (4)
Investment and other revenue (d)
11 10 9 5 13 N/MN/M35 50 N/M
Total fee and other revenue (d)
803 783 760 738 826 3 (3)3,084 3,213 (4)
Net interest income51 41 41 41 47 24 9 174 176 (1)
Total revenue 854 824 801 779 873 4 (2)3,258 3,389 (4)
Provision for credit losses3 — — 2 — N/MN/M5 4 N/M
Noninterest expense (ex. amortization of intangible assets) (a)
700 636 649 710 695 10 1 2,695 2,762 (2)
Amortization of intangible assets3 4 4 4 5 (25)(40)15 18 (17)
Total noninterest expense703 640 653 714 700 10 — 2,710 2,780 (3)
Income before income taxes$148 $184 $148 $63 $173 (20)%(14)%$543 $605 (10)%
Total revenue by line of business:
Investment Management (a)(e)
$577 $559 $543 $518 $598 3%(4)%$2,197 $2,330 (6)%
Wealth Management (e)
277 265 258 261 275 5 1 1,061 1,059 — 
Total revenue by line of business$854 $824 $801 $779 $873 4%(2)%$3,258 $3,389 (4)%
Financial ratios:
Pre-tax operating margin17%22%19%8%20%17%18%
Adjusted pre-tax operating margin – Non-GAAP (f)
19%24%20%9%22%18%20%
Selected balance sheet data:
Average loans$13,931 $14,143 $13,991 $13,537 $13,718 (1)%2%$13,902 $13,610 2%
Average assets (g)
$26,948 $27,247 $27,114 $26,402 $26,706 (1)%1%$26,930 $26,385 2%
Average deposits$9,453 $9,201 $9,216 $9,917 $9,967 3%(5)%$9,445 $10,589 (11)%
(a) Effective 1Q25, an adjustment for certain rebates, which were previously recorded as distribution and servicing expense, began to be reflected as a reduction of investment management fees. These amounts totaled approximately $20 million for all quarterly periods presented and impacted the year-over-year variances for investment management fees and related revenue subtotals, noninterest expense and Investment Management total revenue in the table above.
(b) On a constant currency basis, investment management and performance fees decreased 1% (Non-GAAP) compared with 4Q24. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(c) Other fees primarily include investment services fees.
(d) 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.
(e) In 4Q25, the prior period total revenue by line of business for Investment Management and Wealth Management was revised for comparability to reflect the movement of certain fixed income investment management business from Wealth Management to Investment Management. There was no impact to total revenue reported for the Investment and Wealth Management business segment or on a consolidated basis.
(f) Net of distribution and servicing expense. See “Explanation of GAAP and Non-GAAP Financial Measures” beginning on page 18 for the reconciliation of this Non-GAAP measure.
(g) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
N/M – Not meaningful.
13


THE BANK OF NEW YORK MELLON CORPORATION
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AUM BY PRODUCT TYPE, CHANGES IN AUM AND WEALTH MANAGEMENT CLIENT ASSETS
4Q25 vs.FY25 vs.
(dollars in billions)4Q253Q252Q251Q254Q243Q254Q24FY25FY24FY24
AUM by product type: (a)(b)
Equity$179 $180 $168 $156 $162 (1)%10%
Fixed income262 257 248 234 221 2 19 
Index517 512 488 470 491 1 5 
Liability-driven investments539 537 588 549 548 — (2)
Multi-asset and alternative investments186 181 173 167 171 3 9 
Cash495 475 441 432 436 4 14 
Total AUM$2,178 $2,142 $2,106 $2,008 $2,029 2%7%
Changes in AUM: (a)(b)
Beginning balance of AUM$2,142 $2,106 $2,008 $2,029 $2,144 $2,029 $1,974 
Net inflows (outflows):
Long-term strategies:
Equity(4)(8)(3)(3)(5)(18)(15)
Fixed income5 7 5 2 (2)19 18 
Liability-driven investments(15)(23)— 1 (11)(37)2 
Multi-asset and alternative investments(1)(1)(4)(2)(2)(8)(15)
Total long-term active strategies (outflows) inflows(15)(25)(2)(2)(20)(44)(10)
Index(8)(8)(22)(11)(7)(49)(42)
Total long-term strategies (outflows)(23)(33)(24)(13)(27)(93)(52)
Short-term strategies:
Cash20 34 7 (5)12 56 45 
Total net (outflows) inflows(3)1 (17)(18)(15)(37)(7)
Net market impact40 30 70 (25)(45)115 69 
Net currency impact(1)(10)45 22 (55)56 (25)
Other— 15 (c)— — — 15 (c)18 (d)
Ending balance of AUM$2,178 $2,142 $2,106 $2,008 $2,029 2%7%$2,178 $2,029 7%
Wealth Management client assets (a)(e)
$350 $348 $339 $327 $327 1%7%
(a) Dec. 31, 2025 information is preliminary.
(b) Represents assets managed in the Investment and Wealth Management business segment.
(c) Reflects a change in methodology beginning in the third quarter of 2025 to include assets under advisement.
(d) Reflects the realignment of similar products and services within our lines of business. Refer to Form 8-K dated March 26, 2024 for further information.
(e) Includes AUM and AUC/A in the Wealth Management line of business.
14


THE BANK OF NEW YORK MELLON CORPORATION
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OTHER SEGMENT
(dollars in millions)4Q253Q252Q251Q254Q24FY25FY24
Revenue:
Fee revenue$(21)$(27)$(15)$(28)$(20)$(91)$(42)
Investment and other revenue45 45 33 62 9 185 140 
Total fee and other revenue24 18 18 34 (11)94 98 
Net interest (expense) income(9)1 (19)(9)(8)(36)(61)
Total revenue15 19 (1)25 (19)58 37 
Provision for credit losses(9)(1)2 4 (4)(4)9 
Noninterest expense55 45 36 88 137 224 254 
(Loss) before income taxes$(31)$(25)$(39)$(67)$(152)$(162)$(226)
Selected balance sheet data:
Average loans and leases$1,695 $1,565 $1,685 $1,800 $1,723 $1,686 $1,763 
Average assets $67,432 $70,687 $69,823 $65,297 $66,442 $68,323 $65,761 
15


THE BANK OF NEW YORK MELLON CORPORATION
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SECURITIES PORTFOLIO
(dollars in millions)Sept. 30, 20254Q25
change in
unrealized
gain (loss)		Dec. 31, 2025
Fair value
as a % of amortized
cost (a)
Unrealized
 (loss)
% Floating
rate (b)
Ratings (c)
Amortized
cost (a)
Fair valueAAA/
AA-		A+/
A-		BBB+/
BBB-		BB+ and
lower		Not
rated
 Fair value
Agency RMBS$44,964 $353 $47,696 $45,383 95%$(2,313)14%100%—%—%—%—%
Non-U.S. government (d)
34,314 68 34,247 34,224 100 (23)22 84 16 — — — 
U.S. Treasury32,839 146 33,451 33,386 100 (65)33 100 — — — — 
Agency commercial MBS9,666 43 9,828 9,600 98 (228)44 100 — — — — 
Foreign covered bonds
8,499 (4)8,824 8,806 100 (18)35 100 — — — — 
CLOs8,097 (4)7,958 7,958 100 — 100 100 — — — — 
U.S. government agencies
4,095 28 4,195 4,029 96 (166)27 100 — — — — 
Non-agency commercial MBS
2,210 11 2,280 2,196 96 (84)46 100 — — — — 
Non-agency RMBS1,407 15 1,629 1,515 93 (114)46 100 — — — — 
Other asset-backed securities
402 3 397 376 95 (21)21 100 — — — — 
Other debt securities10 — 11 10 91 (1)— — — — — 100 
Total securities$146,503 $659 $150,516 $147,483 (e)98%$(3,033)(f)29%96%4%—%—%—%
(a) Amortized cost includes the impact of hedged item basis adjustments, which was a net decrease of $910 million, and is net of allowance for credit losses.
(b) Includes the impact of hedges.
(c) Represents ratings by S&P, or the equivalent.
(d) Includes supranational securities.
(e) The fair value of available-for-sale securities totaled $102,106 million at Dec. 31, 2025, or 69% of the securities portfolio. The fair value of the held-to-maturity securities totaled $45,377 million at Dec. 31, 2025, or 31% of the securities portfolio.
(f) At Dec. 31, 2025, includes a pre-tax net unrealized loss of $316 million related to available-for-sale securities, net of hedges, and $2,717 million related to held-to-maturity securities. The after-tax unrealized loss, net of hedges, related to available-for-sale securities was $241 million and the after-tax unrealized loss related to held-to-maturity securities was $2,072 million.
Note: At Dec. 31, 2025, the accretable discount relating to securities was $1,979 million. Including the discontinued hedges, net accretion was $116 million in 4Q25.
16


THE BANK OF NEW YORK MELLON CORPORATION
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ALLOWANCE FOR CREDIT LOSSES AND NONPERFORMING ASSETS
20252024
(dollars in millions)Dec. 31Sept. 30June 30March 31Dec. 31
Allowance for credit losses – beginning of period:
Allowance for loan losses$272 $275 $295 $294 $296 
Allowance for lending-related commitments63 70 75 72 75 
Allowance for other financial instruments (a)
33 34 31 26 30 
Allowance for credit losses – beginning of period$368 $379 $401 $392 $401 
Net (charge-offs) recoveries:
Charge-offs— (5)(10)(10)(30)
Recoveries2 1 5 1 1 
Total net recoveries (charge-offs) 2 (4)(5)(9)(29)
Provision for credit losses (b)
(26)(7)(17)18 20 
Allowance for credit losses – end of period$344 $368 $379 $401 $392 
Allowance for credit losses – end of period:
Allowance for loan losses$245 $272 $275 $295 $294 
Allowance for lending-related commitments74 63 70 75 72 
Allowance for other financial instruments (a)
25 33 34 31 26 
Allowance for credit losses – end of period$344 $368 $379 $401 $392 
Allowance for loan losses as a percentage of total loans0.30%0.36%0.38%0.41%0.41%
Nonperforming assets$143 $160 $161 $213 $179 
(a) Includes allowance for credit losses on federal funds sold and securities purchased under resale agreements, available-for-sale securities, held-to-maturity securities, accounts receivable, cash and due from banks and interest-bearing deposits with banks.
(b) Includes all instruments within the scope of ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.
17


THE BANK OF NEW YORK MELLON CORPORATION
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EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
BNY has included in this Financial Supplement certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.
Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income which allows for the comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.
BNY has also included the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business segment relative to industry competitors.
The presentation of the growth rates of investment management and performance fees on a constant currency basis permits investors to assess the significance of changes in foreign currency exchange rates. Growth rates on a constant currency basis were determined by applying the current period foreign currency exchange rates to the prior period revenue. We believe that this presentation, as a supplement to GAAP information, gives investors a clearer picture of the related revenue results without the variability caused by fluctuations in foreign currency exchange rates.
Notes:
Quarterly returns on common and tangible common equity ratios are annualized.
Return on common equity and tangible common equity reconciliation
(dollars in millions)4Q253Q252Q251Q254Q24FY25FY24
Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP$1,427 $1,339 $1,391 $1,149 $1,130 $5,306 $4,336 
Add: Amortization of intangible assets11 12 11 11 13 45 50 
Less: Tax impact of amortization of intangible assets3 3 2 3 3 11 12 
Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, excluding amortization of intangible assets – Non-GAAP$1,435 $1,348 $1,400 $1,157 $1,140 $5,340 $4,374 
Average common shareholders’ equity$39,142 $38,626 $37,892 $36,980 $36,923 $38,167 $36,413 
Less: Average goodwill16,777 16,787 16,748 16,615 16,515 16,733 16,316 
 Average intangible assets2,827 2,842 2,850 2,849 2,846 2,842 2,839 
Add: Deferred tax liability – tax deductible goodwill1,227 1,236 1,236 1,226 1,221 1,227 1,221 
 Deferred tax liability – intangible assets662 665 668 666 665 662 665 
Average tangible common shareholders’ equity – Non-GAAP$21,427 $20,898 $20,198 $19,408 $19,448 $20,481 $19,144 
Return on common equity – GAAP 14.5%13.7%14.7%12.6%12.2%13.9%11.9%
Return on tangible common equity – Non-GAAP26.6%25.6%27.8%24.2%23.3%26.1%22.8%
18


THE BANK OF NEW YORK MELLON CORPORATION
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EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Book value and tangible book value per common share reconciliation20252024
(dollars in millions, except common shares and unless otherwise noted)Dec. 31Sept. 30June 30March 31Dec. 31
The Bank of New York Mellon Corporation shareholders’ equity at period end – GAAP$44,313 $43,879 $43,950 $43,119 $41,318 
Less: Preferred stock4,836 4,836 5,331 5,331 4,343 
The Bank of New York Mellon Corporation common shareholders’ equity at period end – GAAP39,477 39,043 38,619 37,788 36,975 
Less: Goodwill16,767 16,773 16,823 16,661 16,598 
Intangible assets2,822 2,834 2,849 2,846 2,851 
Add: Deferred tax liability – tax deductible goodwill1,227 1,236 1,236 1,226 1,221 
Deferred tax liability – intangible assets662 665 668 666 665 
The Bank of New York Mellon Corporation tangible common shareholders’ equity at period end – Non-GAAP$21,777 $21,337 $20,851 $20,173 $19,412 
Period-end common shares outstanding (in thousands)
688,236 697,349 705,241 715,434 717,680 
Book value per common share – GAAP$57.36 $55.99 $54.76 $52.82 $51.52 
Tangible book value per common share – Non-GAAP$31.64 $30.60 $29.57 $28.20 $27.05 
Net interest margin reconciliation
(dollars in millions)4Q253Q252Q251Q254Q24
Net interest income – GAAP$1,346 $1,236 $1,203 $1,159 $1,194 
Add: Tax equivalent adjustment— — 1 — 1 
Net interest income (FTE) – Non-GAAP$1,346 $1,236 $1,204 $1,159 $1,195 
Average interest-earning assets$387,289 $374,493 $375,542 $354,687 $357,768 
Net interest margin – GAAP (a)
1.38%1.31%1.27%1.30%1.32%
Net interest margin (FTE) – Non-GAAP (a)
1.38%1.31%1.27%1.30%1.32%
(a) Net interest margin is annualized.
19


THE BANK OF NEW YORK MELLON CORPORATION
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EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
Pre-tax operating margin reconciliation - Investment and Wealth Management business segment
(dollars in millions)4Q253Q252Q251Q254Q24FY25FY24
Income before income taxes – GAAP$148 $184 $148 $63 $173 $543 $605 
Total revenue – GAAP$854 $824 $801 $779 $873 $3,258 $3,389 
Less: Distribution and servicing expense74 68 64 65 88 271 363 
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP$780 $756 $737 $714 $785 $2,987 $3,026 
Pre-tax operating margin – GAAP (a)
17%22%19%8%20%17%18%
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (a)
19%24%20%9%22%18%20%
(a) Income before income taxes divided by total revenue.
Constant currency reconciliations4Q25 vs.
(dollars in millions)4Q254Q244Q24
Consolidated:
Investment management and performance fees – GAAP$806 $808 —%
Impact of changes in foreign currency exchange rates— 9 
Adjusted investment management and performance fees – Non-GAAP$806 $817 (1)%
Investment and Wealth Management business segment:
Investment management and performance fees – GAAP$807 $809 —%
Impact of changes in foreign currency exchange rates— 9 
Adjusted investment management and performance fees – Non-GAAP$807 $818 (1)%
20