Third Quarter 2019 Financial Highlights October 16, 2019

3Q19 Financial Results Profits Returns Balance Sheet (a) › Net Income: $1,002 million › ROE: 10.6% › CET1: 11.1% (b) › Diluted EPS: $1.07 › ROTCE: 21.4% › SLR: 6.1% › Returned $1.3 billion to shareholders Pre-tax Income Total Revenue ($ million) ($ million) (4%) - % 3,057 › Lower revenues mainly due to net 1,334 1,285 1,287 50 interest revenue and investment 3,002 - % management and performance fees 45 Services Investment 3,044 40 › Flat Investment Services revenues 33% 33% 33% as fee growth was more than offset 35 by lower net interest revenue 30 1,015 › Ongoing cost efficiency 25 917 (12)% › Stable operating margin 20 Investment Management 890 15 › Attractive capital returns 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 Pre-tax operating margin Note: See page 13 for corresponding footnotes in Appendix. 22 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

3Q19 Financial Highlights ($ millions, except per share data) 3Q19 2Q19 3Q18 Total revenue $3,861 (2)% (5)% Fee revenue 3,129 1 (1) Net interest revenue 730 (9) (18) Provision for credit losses (16) N/M N/M Noninterest expense 2,590 (2) (5) Income before income taxes 1,287 - (4) Net income applicable to common shareholders $1,002 3% (7)% Earnings per common share $1.07 6% 1% Operating leverage (a) 54 bps 30 bps Pre-tax operating margin 33% 53 bps 52 bps Return on common equity 10.6% 21 bps (65) bps Return on tangible common equity (b) 21.4% 22 bps (165) bps Notable items impacting 3Q19 and 3Q18 Increase / (decrease) Revenue Expense EPS › 3Q19 includes a lease-related impairment negatively impacting net 3Q19 (70) (74) $0.01 interest revenue and a net reduction of reserves for tax-related exposure of certain investment management funds benefiting expenses 3Q18 (13) 62 $(0.01) › 3Q18 includes adjustments for U.S. tax legislation and litigation charge impact Note: See page 13 for corresponding footnotes in Appendix. N/M - not meaningful; bps - basis points 33 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Capital and Liquidity 3Q19 2Q19 3Q18 Consolidated regulatory capital ratios: (a) Common Equity Tier 1 (“CET1”) ratio 11.1% 11.1% 11.2% Tier 1 capital ratio 13.2 13.2 13.3 Total capital ratio 14.0 14.0 14.1 Tier 1 leverage ratio 6.6 6.8 7.0 Supplementary leverage ratio (“SLR”) 6.1 6.3 6.4 Average liquidity coverage ratio (“LCR”) 117% 117% 121% Book value per common share $40.75 $40.30 $38.45 Tangible book value per common share – (non-GAAP) (b) $20.59 $20.45 $19.35 Cash dividends per common share $0.31 $0.28 $0.28 Common shares outstanding (thousands) 922,199 942,662 988,777 Note: See page 13 for corresponding footnotes in Appendix. 44 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Balance Sheet ($ billions unless otherwise noted) Average Interest-Earning Assets Average Deposits › Higher deposit balances +5% – higher interest-bearing deposits partially offset +2% by lower noninterest-bearing deposit balances +8% 294 287 +3% › High quality and liquid securities portfolio 279 51 226 › Lower yield on interest-earning assets sequentially 50 221 54 209 › Net interest revenue of $730 million and NIM of (1) 2.74% 2.72% 0.99% – quarter-on-quarter decline primarily driven by 2.33% 2.63% lease-related impairment of $70 million 124 127 149 168 177 123 1.04% 0.98% 3Q19 2Q19 3Q18 0.63% Net interest revenue ($m) 730 (9)% (18)% (1) excluding impairment 800 (0)% (10)% 113 116 61 Net interest margin 0.99% (13) bps (28) bps 103 53 49 (1) excluding impairment 1.09% (3) bps (18) bps (1) Represents a non-GAAP measure; excludes $70m lease-related impairment, or 10bp impact to 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 NIM, and a 9bp impact to the interest-earning assets average rate. Total interest-earning assets average rate Interest-bearing deposits rate Loans Interest-bearing deposits Securities Noninterest-bearing deposits Cash/Reverse Repo Note: May not foot due to rounding. bps – basis points 55 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Yield Curve Net Interest Revenue 7/17/19 10/11/19 2.5% 2.0% 1.5% 1.0% 1m 3m 12m 2Y 5Y 10Y Drivers of Sequential NIR Change ($ millions) USD LIBOR US Treasury 802 800 730 (70) 2Q19 − Average NIB + Average IB + Lower − Lower interest- 3Q19 − Lease-related 3Q19 deposit deposit funding earning asset excluding impairment (1) balances balances up costs yields impairment down ~$4bn by ~$10bn + Higher earning assets + Hedging / Other (1) Represents a non-GAAP measure. See page 5 for additional information. 66 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Noninterest Expense ($ millions) 3Q19 2Q19 3Q18 › Noninterest expense down 5% year-over-year Staff $1,479 4% - % – mostly due to reduction of previously Professional, legal and other purchased 316 (6) (5) established reserves for potential tax-related services exposure of certain investment management Software and equipment 309 2 18 funds that we manage, net of staff expense, Net occupancy 138 - (1) and lower litigation expense Sub-custodian and clearing 111 (3) 5 – the remaining slight decrease primarily Distribution and servicing 97 3 (2) reflects the continued investments in technology, which were more than offset by Business development 47 (16) (8) lower other expenses and the favorable Bank assessment charges 31 - (37) impact of a stronger U.S. dollar Amortization of intangible assets 30 - (38) Other 32 (74) ( 82) › Technology expenses are included in staff, professional, legal and other purchased services Total noninterest expense $2,590 (2)% (5)% and software and equipment 77 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Investment Services Financial Highlights ($ millions unless otherwise noted) 3Q19 2Q19 3Q18 › Asset Servicing down 4% year-over-year on lower client Total revenue by line of business: activity, securities lending revenue and net interest Asset Servicing $1,405 1% (4)% Pershing 568 1 2 revenue and the unfavorable impact of a stronger U.S. Issuer Services 466 4 3 dollar Treasury Services 312 (2) (4) Clearance and Collateral Management 293 3 11 › Pershing up 2% on growth in client assets and Total revenue 3,044 1 - accounts partially offset by lower net interest revenue Provision for credit losses (15) N/M N/M Noninterest expense 1,965 1 (3) › Issuer Services up 3% on higher Depositary Receipts Income before taxes $1,094 4% 7% revenue and higher volumes in Corporate Trust, partially offset by lower net interest revenue in Pre-tax operating margin 36% 91 bps 240 bps Corporate Trust Key Metrics › Treasury Services down 4% on lower net interest Foreign exchange and other trading revenue $160 5% (1)% revenue Securities lending revenue 39 (3) (25) › Clearance and Collateral Management up 11% on Average loans 32,758 1 (7) growth in clearance volumes and collateral Average deposits 208,044 3 8 management from new business, partially offset by AUC/A at period end (tr) (a) 35.8 1 4 (b) lower net interest revenue Market value of securities on loan at period end (bn) $362 (2)% (13)% Pershing › AUC/A of $35.8 trillion up 4% on higher market values Average active clearing accounts (U.S. platform) and net new business, partially offset by the (thousands) 6,283 - 3 unfavorable impact of a stronger U.S. dollar Clearance and Collateral Management Average tri-party collateral mgmt. balances (tr) $3.6 4% 19% Note: See page 13 for corresponding footnotes in Appendix. N/M - not meaningful; bps - basis points 88 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Investment Services - Revenue Drivers ($ millions) (4)% +2% +3% (4)% +11% 1,458 1,405 558 568 453 466 324 312 293 264 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Asset Servicing Pershing Issuer Services Treasury Services Clearance and Collateral + AUC/A + Higher client assets + Depositary receipts + Interest-bearing + New business from new - Lower client activity and accounts from transaction volumes deposit balances and existing clients new and existing and timing Lower securities + Payment volumes + Average tri-party - clients lending revenue + Corporate Trust new - Noninterest-bearing balances + Transaction business and Deposit pricing deposits + U.S. government - volumes volumes - Deposit pricing securities clearance - Margin loans - Lower NIR in volumes Corporate Trust - Loan volumes 99 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Investment Management Financial Highlights ($ millions unless otherwise noted) 3Q19 2Q19 3Q18 › Asset Management down 14% year-over-year on Total revenue by line of business: Asset Management $605 (2)% (14)% cumulative AUM outflows since 3Q18, lower Wealth Management 285 (5) (8) performance fees, the impact of hedging activities Total revenue 890 (3) (12) and the unfavorable impact of a stronger U.S. Provision for credit losses - N/M N/M dollar, partially offset by higher market values Noninterest expense 590 (10) (16) Income before taxes $300 13% (5)% › Wealth Management down 8% primarily reflects Pre-tax operating margin 34% 466 bps 250 bps lower net interest revenue, partially offset by higher Pre-tax operating margin (non-GAAP) (a) 38% 553 bps 330 bps market values Key Metrics › Noninterest expense down 16% primarily reflecting Average loans $16,260 - % (3)% the net reduction of the reserves for tax-related Average deposits 14,083 (4) (4) exposure of certain investment management funds, Wealth Management client assets (bn) (b) $259 1% (1)% the favorable impact of a stronger U.S. dollar and lower staff expense Changes in AUM (bn) (c) 3Q19 2Q19 3Q18 Beginning balance $1,843 $1,841 $1,805 Equity (4) (2) (2) › AUM of $1.9 trillion up 3% primarily reflecting Fixed income 2 (4) 2 higher market values, partially offset by the Liability-driven investments (4) 1 16 unfavorable impact of a stronger U.S. dollar and net Multi-asset and alternatives (1) 1 2 outflows Index (3) (22) (3) Cash 11 2 - Total net inflows (outflows) 1 (24) 15 Net market impact 66 42 18 Net currency impact (29) (16) (10) Ending balance $1,881 $1,843 $1,828 Note: See page 13 for corresponding footnotes in Appendix. N/M - not meaningful; bps - basis points 1010 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Other Segment ($($ millions) millions) 3Q19 2Q19 3Q18 › Fee revenue, net securities (losses) gains and net $5 $34 $7 Fee revenue interest expense include corporate treasury and Net securities (losses) gains (1) 7 - other investment activity, including hedging activity Total fee and other revenue 4 41 7 which offsets between fee revenue and net interest Net interest (expense) (80) (40) (13) expense Total (loss) revenue (76) 1 (6) Provision for credit losses (1) (2) (2) › Total revenue decreased and net interest expense increased year-over-year reflecting the lease-related Noninterest expense 35 39 6 impairment and corporate treasury activity (Loss) before taxes $(110) $(36) $(10) › Noninterest expense increased year-over-year primarily reflecting higher staff expense 1111 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Appendix

Footnotes 3Q19 Financial Results - Page 2 (a) Reflects net income applicable to common shareholders. (b) Quarterly returns are annualized. See page 14 for a reconciliation of this non-GAAP measure. 3Q19 Financial Highlights - Page 3 (a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense. (b) Quarterly returns are annualized. See page 14 for a reconciliation of this non-GAAP measure. Capital and Liquidity, Page 4 (a) Regulatory capital ratios for Sept. 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) Tangible book value per common share – non-GAAP – excludes goodwill and intangible assets, net of deferred tax liabilities. See page 14 for a reconciliation of this non-GAAP measure. Investment Services, Page 8 (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 Sept. 30, 2019, June 30, 2019 and Sept. 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 $66 billion at Sept. 30, 2019, $64 billion at June 30, 2019 and $69 billion at Sept. 30, 2018. Investment Management, Page 10 (a) Net of distribution and servicing expense. See page 15 for a 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. 1313 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Return on Common Equity and Tangible Common Equity Reconciliation ($ millions) 3Q19 2Q19 3Q18 Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $1,002 $969 $1,075 Add: Amortization of intangible assets 30 30 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, $1,025 $992 $1,112 excluding amortization of intangible assets – non-GAAP Average common shareholders’ equity $37,597 $37,487 $38,036 Less: Average goodwill 17,267 17,343 17,391 Average intangible assets 3,141 3,178 3,283 Add: Deferred tax liability – tax deductible goodwill 1,103 1,094 1,066 Deferred tax liability – intangible assets 679 687 699 Average tangible common shareholders’ equity – non-GAAP $18,971 $18,747 $19,127 Return on common equity (annualized) – GAAP 10.6% 10.4% 11.2% Return on tangible common equity (annualized) – non-GAAP 21.4% 21.2% 23.1% Book Value and Tangible Book Value Per Common Share Reconciliation ($ millions, except common shares) Sept. 30, 2019 Jun 30, 2019 Sept. 30, 2018 BNY Mellon shareholders’ equity at period end – GAAP $41,120 $41,533 $41,560 Less: Preferred stock 3,542 3,542 3,542 BNY Mellon common shareholders’ equity at period end – GAAP 37,578 37,991 38,018 Less: Goodwill 17,248 17,337 17,390 Intangible assets 3,124 3,160 3,258 Add: Deferred tax liability – tax deductible goodwill 1,103 1,094 1,066 Deferred tax liability – intangible assets 679 687 699 BNY Mellon tangible common shareholders’ equity at period end – non-GAAP $18,988 $19,275 $19,135 Period-end common shares outstanding (thousands) 922,199 942,662 988,777 Book value per common share – GAAP $40.75 $40.30 $38.45 Tangible book value per common share – non-GAAP $20.59 $20.45 $19.35 1414 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

Pre-tax Operating Margin Reconciliation - Investment Management Business ($ millions) 3Q19 2Q19 3Q18 Income before income taxes – GAAP $300 $265 $316 Total revenue – GAAP $890 $917 $1,015 Less: Distribution and servicing expense 98 94 99 Adjusted total revenue, net of distribution and servicing expense – non-GAAP $792 $823 $916 Pre-tax operating margin – GAAP (a) 34% 29% 31% Pre-tax operating margin, net of distribution and servicing expense – non-GAAP (a) 38% 32% 35% (a) Income before income taxes divided by total revenue. 1515 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights

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, performance, organizational quality and efficiency, investments, including in technology and product development, capabilities, revenue, net interest revenue, fees, expenses, cost discipline, sustainable growth, company management, deposits, interest rates and yield curves, securities portfolio, taxes, business opportunities, divestments, volatility, 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 third quarter of 2019. All forward-looking statements speak only as of October 16, 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. 1616 ThirdFirst QuarterQuarter 2019 2019 – –FinancialFinancial Highlights Highlights