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Second Quarter 2019 Financial Highlights July 17, 2019

Profits • Net Income $969 million, (8)% y/y • Diluted EPS $1.01, (2)% y/y Returns • ROE: X.X% 2Q19 Financial Results • ROTCE: XX.X% • Returns XYZ to shareholders Profits Returns Balance Sheet (a) • ROE: 10.4% • Net income: $969 million (b) • CET1: 11.2% Balance Sheet • ROTCE: 21.2% • Diluted EPS: $1.01 • CET1: 1X.X% • Returned $1.0 billion to shareholders • SLR: 6.3% • SLR: X.X% • LCR: XXX% Pre-tax Income Total Revenue ($ millions) ($ millions) (8)% 1,394 3,107 • Lower revenues mainly due to net 1,285 interest income and investment 1,193 Investment 2,950 (3)% management fees Services 3,002 • Ongoing cost discipline while investing in future growth 34% 33% 31% • Solid operating margin 1,018 • Attractive capital returns Investment 939 (10)% Management ◦ Up to $3.94 billion in share repurchases authorized through 917 2Q20, +20% ◦ Increased dividend per share in 2Q18 1Q19 2Q19 2Q18 1Q19 2Q19 3Q19 to $0.31, +11% Pretax operating margin Note: See page 14 for corresponding footnotes in Appendix. 22 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Differentiation, scale and investment for future success Strong position with market headwinds • Drive improved organizational quality and + Unique global franchise and business model efficiency World’s largest asset servicer and + custodian • Investing in technology and product Stable pretax margin and strong risk development + adjusted returns Attractive capital returns to + shareholders • Manage the company prudently - Interest rate environment • Leverage full franchise to serve clients - Macroeconomic and geopolitical uncertainty • Focus on sustainable growth over long term - Muted client activity 33 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

2Q19 Financial Highlights Growth vs. ($ millions) 2Q19 1Q19 2Q18 Total revenue $3,924 1% (5)% Fee revenue 3,105 2 (3) Net interest revenue 802 (5) (12) Provision for credit losses (8) N/M N/M Noninterest expense 2,647 (2) (4) Income before income taxes $1,285 8% (8)% Net income applicable to common shareholders $969 6% (8)% Earnings per common share $1.01 7% (2)% Operating leverage (a) +257 bps (153) bps Pre-tax operating margin 33% +219 bps (93) bps Net interest margin 1.12% (8) bps (14) bps Note: See page 14 for corresponding footnotes in Appendix. N/M - not meaningful; bps - basis points 44 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Capital and Liquidity 2Q19 1Q19 2Q18 Consolidated regulatory capital ratios: (a) Common Equity Tier 1 (“CET1”) ratio 11.2% 11.1% 11.0% Tier 1 capital ratio 13.3 13.2 13.1 Total capital ratio 14.0 14.0 13.8 Tier 1 leverage ratio 6.8 6.8 6.7 Supplementary leverage ratio (“SLR”) 6.3 6.3 6.1 Average liquidity coverage ratio (“LCR”) 117% 118% 118% Return on common equity (b) 10.4% 10.0% 11.2% Return on tangible common equity – (non-GAAP) (c) 21.2% 20.7% 23.5% Book value per common share (d) $40.30 $39.36 $37.97 Tangible book value per common share – (non-GAAP) (d) $20.45 $19.74 $19.00 Cash dividends per common share $0.28 $0.28 $0.24 Common shares outstanding (thousands) 942,662 957,517 999,945 Note: See page 14 for corresponding footnotes in Appendix. 55 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Net Interest Revenue Net Interest Revenue and Net Interest Margin Performance Commentary ($ millions) quarter-over-quarter (12)% (5)% • Higher deposit balances 916 ◦ Interest-bearing inflows partially offset by noninterest- 841 802 bearing outflows 1.26% 1.20% • High quality and liquid securities portfolio 1.12% • NIM impacted by higher deposit rates and yield curve environment 2Q18 1Q19 2Q19 NIM Average Deposits Average Interest-Earnings Assets ($ billions) ($ billions) 1% (2)% 3% 2% 292 282 287 218 214 221 57 51 50 65 55 53 122 124 124 160 168 153 2.75% 2.74% 0.99% 1.04% 2.14% 113 113 0.45% 106 2Q18 1Q19 2Q19 2Q18 1Q19 2Q19 Interest-bearing Interest-bearing deposits Noninterest-bearing Total interest-earning assets Cash/Reverse Repo Securities Loans deposits average rate deposits average rate 66 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Net Interest Revenue (continued) ($ millions) Yield Curve 4/17/19 7/12/19 3.0% Performance Commentary 2.5% quarter-over-quarter Drivers of Sequential NIR Change 2.0% • Net interest revenue down primarily on lower securities 1.5% 1M 3M 12M 2Y 5Y 10Y yields, higher deposit and funding costs, lower loans and 841841 USD LIBOR US Treasury the impact of hedging activities (9) 21 • Since 1Q, short end rates have declined 5-20 bps and long end by 30-40 bps (20) 802 (16) (15) • Taking strategic and tactical actions on net interest revenue although interest rate curve limits opportunities 1Q19 NIR • Average NIB deposit • Interest-bearing • Securities • Average interest- • Lower loan 2Q19 NIR balances down by deposit rates up portfolio yield bearing deposit balances ~$2 billion by 5 bps down by 5 bps balances up by • Negative impact ~$8 billion from hedging • Higher reverse (offset in FX and repos other trading) • Day count benefit 77 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights U.S. Treasury Yields 3/29/19 6/28/19 7/13/19 1-year 2.40% 1.92% 2.00% 5-year 2.23 1.76 1.88 10-year 2.41 2 2.07 30-year 2.81 2.52 2.54 (802)

Noninterest Expense Growth vs. Performance Commentary ($ millions) 2Q19 1Q19 2Q18 year-over-year Staff $1,421 (7)% (5)% • Noninterest expense, down 4% with over 1% of the Professional, legal and other purchased decrease driven by the favorable impact of a stronger U.S. 337 4 3 services dollar; remaining decrease primarily reflects lower staff Software and equipment 304 7 14 expense and decreases in most other expense categories, partially offset by continued investments in technology Net occupancy 138 1 (12) Sub-custodian and clearing 115 10 5 • Technology expenses are included in staff, professional, Distribution and servicing 94 3 (11) legal and other purchased services and software and Business development 56 24 (10) equipment expenses Bank assessment charges 31 — (34) Amortization of intangible assets 30 3 (38) Other 121 (6) (10) Total noninterest expense $2,647 (2)% (4)% 88 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Investment Services Growth vs. Performance Commentary Financial Highlights ($ millions) 2Q19 1Q19 2Q18 year-over-year Total revenue by line of business: Asset Servicing $1,391 (1)% (8)% • Asset Servicing, down 8% on lower net interest revenue, Pershing 564 2 1 lower foreign exchange and securities lending revenue, Issuer Services 446 13 3 lower client activity and the unfavorable impact of a Treasury Services 317 — (4) stronger U.S. dollar Clearance and Collateral Management 284 3 6 Total revenue by line of business 3,002 2 (3) • Pershing, up 1% on higher client assets and volumes, Provision for credit losses (4) N/M N/M Noninterest expense 1,954 (1) (1) partially offset by lower net interest revenue Income before taxes $1,052 8% (8)% Pre-tax operating margin 35% 206 bps (163) bps • Issuer Services, up 3% on higher fees in Depositary Receipts and Corporate Trust, partially offset by lower net interest revenue in Corporate Trust Key Metrics ($ millions unless otherwise noted) Foreign exchange and other trading revenue $153 (3)% (11)% • Treasury Services, down 4% on lower net interest revenue Securities lending revenue 40 (9) (27) Average loans 32,287 (3) (15) Average deposits 201,146 3 (1) • Clearance and Collateral Management, up 6% on growth in clearance volumes and collateral management, partially AUC/A at period end (tr) (a) 35.5 3 6 Market value of securities on loan at period end (bn) (b) $369 (2)% (15)% offset by lower net interest revenue Pershing Average active clearing accounts (U.S. platform) (thousands) 6,254 1 3 • AUC/A of $35.5 trillion, up 6% primarily reflecting higher market values and net new business, partially offset by the Clearance and Collateral Management Average tri-party collateral mgmt. balances (tr) $3.4 4% 21% unfavorable impact of a stronger U.S. dollar Note: See page 14 for corresponding footnotes in Appendix. N/M - not meaningful; bps - basis points 99 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Investment Services - Revenue Drivers ($ millions) (8)% 1% 3% 1,520 1,391 558 564 431 446 (4)% 6% 329 317 269 284 2Q18 2Q19 2Q18 2Q19 2Q18 2Q19 2Q18 2Q19 2Q18 2Q19 Asset Servicing Pershing Issuer Services Treasury Services Clearance and Collateral + AUC/A + Transaction + Depositary receipts + Interest-bearing + Clients fully on-boarded - Deposit balances / volumes transaction volumes deposit balances as of 4Q18 pricing + Clearing and timing + Payment volumes + Average tri-party - FX volumes and accounts + Corporate Trust new - Noninterest-bearing balances volatility + Long-term business deposits + U.S. government - Lower securities mutual fund - Lower NIR in - Deposit pricing securities clearance lending equity spreads assets Corporate Trust volumes and government - Margin loans - Loan volumes balances 1010 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Investment Management Growth vs. Performance Commentary Financial Highlights ($ millions) 2Q19 1Q19 2Q18 year-over-year Total revenue by line of business: Asset Management $618 (3)% (12)% • Asset Management, down 12% primarily reflecting the Wealth Management 299 (1) (5) change in AUM which was impacted by the cumulative Total revenue by line of business 917 (2) (10) outflows since 2Q18, partially offset by higher market Provision for credit losses (2) N/M N/M values. Also reflects the unfavorable impact of U.S. dollar Noninterest expense 654 (2) (6) Income before taxes $265 (1)% (17)% and the impact of divestitures and hedging activities Pre-tax operating margin 29% 40 bps (226) bps (a) Pre-tax operating margin – (non-GAAP) 32% 65 bps (245) bps • Wealth Management, down 5% on lower net interest revenue, partially offset by higher market values Key Metrics ($ millions unless otherwise noted) Average loans $16,322 —% (4)% • Noninterest expense, down 6% primarily reflecting lower Average deposits 14,615 (8) 3 staff expense, the favorable impact of a stronger U.S. (b) Wealth Management client assets (bn) 257 2% 1% dollar and lower distribution and servicing expense (c) Changes in AUM (bn): 1Q19 2Q18 Beginning balance of AUM $1,841 $1,722 $1,868 • AUM of $1.8 trillion, up 2% on higher market values, Net inflows (outflows): partially offset by the unfavorable impact of a stronger Equity (2) (4) (3) U.S. dollar and net outflows Fixed income (4) 3 (4) Liability-driven investments 1 5 2 Multi-asset and alternative investments 1 (4) (3) Index (22) (2) (7) Cash 2 2 (11) Total net (outflows) inflows (24) — (26) Net market impact 42 103 17 Net currency impact (16) 16 (53) Divestiture/Other — — (1) Ending balance of AUM $1,843 $1,841 $1,805 Note: See page 14 for corresponding footnotes in Appendix. N/M - not meaningful; bps - basis points 1111 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Other Segment Performance Commentary ($ millions) 2Q19 1Q19 2Q18 year-over-year Fee revenue $34 $29 $40 • Fee revenue, net securities gains and net interest Net securities gains 7 1 1 expense are primarily related to corporate treasury and Total fee and other revenue 41 30 41 other investment activity, including hedging activity Net interest (expense) (40) (30) (35) which offsets between fee revenue and net interest Total revenue 1 — 6 expense Provision for credit losses (2) (2) (6) Noninterest expense 39 61 81 • Noninterest expense decreased reflecting lower staff (Loss) before taxes $(36) $(59) $(69) expense and the expenses associated with relocating our corporate headquarters, of which $12 million was recorded in 2Q18 1212 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Appendix

Footnotes 2Q19 Financial Results - Page 2 (a) Reflects net income applicable to common shareholders. (b) Quarterly returns are annualized. See the Appendix for reconciliation of this non-GAAP measure. Financial Highlights - Page 4 (a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. Capital and Liquidity, Page 5 (a) Regulatory capital ratios for June 30, 2019 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 included was the Advanced Approaches. (b) Quarterly results are annualized. (c) Quarterly returns are annualized. See the Appendix for reconciliation of this non-GAAP measure. (d) Non-GAAP information, for all periods presented, excludes goodwill and intangible assets, net of deferred tax liabilities. See the Appendix for reconciliation of this non-GAAP measure. Investment Services, Page 9 (a) Current period is preliminary. Includes the AUC/A of CIBC Mellon Global Securities Services Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $1.4 trillion at June 30, 2019, $1.3 trillion at March 31, 2019 and $1.4 trillion at June 30, 2018. (b) Represents the total amount of securities on loan in our agency securities lending program managed by the Investment Services business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $64 billion at June 30, 2019, $62 billion at March 31, 2019 and $70 billion at June 30, 2018. Investment Management, Page 11 (a) Net of distribution and servicing expense. See the Appendix for reconciliation of this non-GAAP measure. (b) Current period is preliminary. Includes AUM and AUC/A in the Wealth Management business. (c) Current period is preliminary. Excludes securities lending cash management assets and assets managed in the Investment Services business. 1414 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Return on Common Equity and Tangible Common Equity Reconciliation ($ millions) 2Q19 1Q19 2Q18 Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $969 $910 $1,055 Add: Amortization of intangible assets 30 29 48 Less: Tax impact of amortization of intangible assets 7 7 11 Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, $992 $932 $1,092 excluding amortization of intangible assets – non-GAAP Average common shareholders’ equity $37,487 $37,086 $37,750 Less: Average goodwill 17,343 17,376 17,505 Average intangible assets 3,178 3,209 3,341 Add: Deferred tax liability – tax deductible goodwill 1,094 1,083 1,054 Deferred tax liability – intangible assets 687 690 709 Average tangible common shareholders’ equity – non-GAAP $18,747 $18,274 $18,667 Return on common equity (annualized) – GAAP 10.4% 10.0% 11.2% Return on tangible common equity (annualized) – non-GAAP 21.2% 20.7% 23.5% Book Value and Tangible Book Value Per Share Reconciliation ($ millions, except common shares) June 30, 2019 March 31, 2019 June 30, 2018 BNY Mellon shareholders’ equity at period end – GAAP $41,533 $41,225 $41,505 Less: Preferred stock 3,542 3,542 3,542 BNY Mellon common shareholders’ equity at period end – GAAP 37,991 37,683 37,963 Less: Goodwill 17,337 17,367 17,418 Intangible assets 3,160 3,193 3,308 Add: Deferred tax liability – tax deductible goodwill 1,094 1,083 1,054 Deferred tax liability – intangible assets 687 690 709 BNY Mellon tangible common shareholders’ equity at period end – non-GAAP $19,275 $18,896 $19,000 Period-end common shares outstanding (thousands) 942,662 957,517 999,945 Book value per common share – GAAP $40.30 $39.36 $37.97 Tangible book value per common share – non-GAAP $20.45 $19.74 $19.00 1515 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights

Pre-tax Operating Margin Reconciliation - Investment Management Business 2Q19 1Q19 2Q18 ($ millions) Income before income taxes – GAAP $265 $269 $319 Total revenue – GAAP $917 $939 $1,018 Less: Distribution and servicing expense 94 91 103 Adjusted total revenue, net of distribution and servicing expense – non-GAAP $823 $848 $915 Pre-tax operating margin – GAAP (a) 29% 29% 31% Pre-tax operating margin, net of distribution and servicing expense – non-GAAP (a) 32% 32% 35% (a) Income before income taxes divided by total revenue. 1616 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights (a) Other charges include severance, litigation, an asset impairment and investment securities losses related to the sale of certain securities.

Cautionary Statement A number of statements in our presentations, the accompanying slides and the responses to your questions are “forward-looking statements.” Words such as “estimate,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “strategy,” “synergies,” “opportunities,” “trends,” “future” and words of similar meaning signify forward-looking statements. These statements relate to, among other things, The Bank of New York Mellon Corporation’s (the “Corporation”) expectations regarding: capital plans, strategic priorities, financial goals, organic growth, organizational quality and efficiency, investments, including in technology and product development, capabilities, revenue, expenses, cost discipline, sustainable growth, company management, deposits, interest rates and yield curves, securities portfolio, taxes, business opportunities, preliminary business metrics and regulatory capital ratios; and statements regarding the Corporation's aspirations, as well as the Corporation’s overall plans, strategies, goals, objectives, expectations, outlooks, estimates, intentions, targets, opportunities and initiatives. These forward- looking statements are based on assumptions that involve risks and uncertainties and that are subject to change based on various important factors (some of which are beyond the Corporation’s control). Actual outcomes may differ materially from those expressed or implied as a result of the factors described under “Forward Looking Statements” and “Risk Factors” in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2018 (the “2018 Annual Report”) and in other filings of the Corporation with the Securities and Exchange Commission (the “SEC”). Preliminary business metrics and regulatory capital ratios are subject to change, possibly materially, as the Corporation completes its Quarterly Report on Form 10-Q for the second quarter of 2019. All forward-looking statements speak only as of July 17, 2019, and the Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. For additional information regarding the Corporation, please refer to the Corporation's SEC filings available at www.bnymellon.com/investorrelations. Non-GAAP Measures: In this presentation we discuss some non-GAAP measures in detailing the Corporation’s performance, which exclude certain items or otherwise include components that differ from GAAP. We believe these measures are useful to the investment community in analyzing the financial results and trends of ongoing operations. We believe they facilitate comparisons with prior periods and reflect the principal basis on which our management monitors financial performance. Additional disclosures relating to non-GAAP measures are contained in the Corporation’s reports filed with the SEC, including the 2018 Annual Report, and are available at www.bnymellon.com/ investorrelations. 1717 SecondFirst Quarter Quarter 2019 2019 – Financial – Financial Highlights Highlights