q22026presentationmateri

4northerntrust.com | © 2026 Northern Trust Corporation 1H26 STRATEGIC HIGHLIGHTS All comparisons to same period of the prior year 2Q26 Revenue Growth* +13% Expense Growth* +5% EPS Growth* +40% Operating Leverage* >700 bps Pre-Tax Margin 40% ROE 26% Enterprise • Execution of One Northern Trust strategy • Strong first half financial performance • Returned over $1 billion to shareholders through the first half of the year Optimize Growth • Eighth consecutive quarter of positive organic fee growth • Double digit net interest income growth • Capital Markets strength Drive Financial Performance • Disciplined expense management while continuing to invest for growth • Significant positive operating leverage Strengthen Resiliency & Manage Risk • Robust capital and liquidity position • Embedding AI to enhance oversight and strengthen capabilities FINANCIAL HIGHLIGHTS Financial and Strategic Highlights *Comparison excluding notable items. Refer to page 15 for additional detail on notable items.

5northerntrust.com | © 2026 Northern Trust Corporation 2026 Mid-Year Business Unit Highlights FINANCIAL HIGHLIGHTS (versus same period prior year) WEALTH MANAGEMENT Ultra-High-Net-Worth $100+MM client revenue outpacing broader Wealth, driving share gains in the segment Revenue Generating Talent Accelerating hires in critical producer roles to fuel growth Client Acquisition Marketing qualified leads up 50% in 1H, broadening acquisition across segments, geographies, and digital channels Alternatives Investments Alternatives adoption across Wealth accelerating, deepening the investment solutions suite ASSET SERVICING Capital Markets Capital Markets and Banking momentum sustained via outsourced solutions (Integrated Trading Solutions, Complete FX) Alternatives Services Alternatives AUA surpasses $1 trillion, reinforcing category leadership Digital Assets Live on the Canton Network; advancing tokenized funds and digital custody ASSET MANAGEMENT Alternatives Solutions Fundraising across secondaries and custom alternatives broadening the Alternatives platform ETFs 5th consecutive quarter of positive ETF flows SMAs Extending SMA leadership through tax alpha and long-short strategies Liquidity 14 consecutive quarters of positive liquidity flow with double-digit organic fee growth 0% 9% 7% 13% FY 2023 FY 2024 FY 2025 1H 2026 Revenue Growth* 5% 6% 5% 6% FY 2023 FY 2024 FY 2025 1H 2026 Expense Growth* (13%) 24% 17% 41% FY 2023 FY 2024 FY 2025 1H 2026 EPS Growth* (500) 230 230 730 FY 2023 FY 2024 FY 2025 1H 2026 Operating Leverage* (2%) 8% 6% 10% Trust Fee Growth 6% 8% 10% 13% FY 2023 FY 2024 FY 2025 1H 2026 NII Growth (basis points) FY 2023 FY 2024 FY 2025 1H 2026 *Refer to page 15 for additional detail on notable items.

7northerntrust.com | © 2026 Northern Trust Corporation % CHANGE VS. 1Q 2026 2Q 2025 Revenue (FTE¹) $2,705.6M 22 % 35 % Noninterest Expense $1,638.6M 9 % 16 % Net Income $792.2M 51 % 88 % Earnings Per Share $4.23 56 % 98 % Assets under Custody / Administration2 (AUC/A) $20.0T 8 % 11 % Assets under Custody2 (AUC) $15.9T 8 % 12 % Assets under Management2 (AUM) $2.0T 10 % 16 % CET1 Ratio 12.2 % Common Stock Dividends Declared $148.8M Common Stock Repurchased $350.6M Total Payout Ratio 63 % INCOME STATEMENT PRE-TAX NOTABLE ITEMS* CLIENT ASSETS CAPITAL Financial Highlights & Key Metrics – 2Q 2026 $451.5 million in net favorable items in 2Q 2026 $145.6 million in net unfavorable items in 2Q 2026 ¹ Revenue and pre-tax margin stated on a fully taxable equivalent (FTE) basis are non-GAAP financial measures. A reconciliation to reported revenue and reported pre-tax margin prepared in accordance with U.S. generally accepted accounting principles (GAAP) is included in the Appendix on page 14. 2 Client assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. *Refer to page 15 for additional detail on notable items.

8northerntrust.com | © 2026 Northern Trust Corporation % CHANGE QoQ YoY (5)% 4 % (1)% 11 % $435 $457 $471 $486 $483 $105 $101 $107 $115 $109 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Private Wealth Global Family Office Wealth Management Trust, Investment and Other Servicing Fees ($ in millions) +10% (1)% % CHANGE VS. Key Indicators (in billions): 2Q 2026 1Q 2026 2Q 2025 Assets under Custody / Administration (AUC/A)1 $ 1,365 8 % 13 % Assets under Custody (AUC)1 $ 1,351 8 % 14 % Assets under Management (AUM)1 $ 534 7 % 14 % Average Deposits $ 27 1 % 6 % Average Loans $ 36 1 % 1 % 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Pre-Tax Profit2 $ 310 $ 342 $ 342 $ 330 $ 334 Pre-Tax Margin2 37 % 41 % 39 % 37 % 37 % Wealth Management Highlights $539 $559 $578 $601 $592 Categories may not sum due to rounding. 1 Client assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. 2 4Q25 pre-tax margin included $15.2 million in notable items. 2Q26 pre-tax margin included $11.9 million in notable items.

9northerntrust.com | © 2026 Northern Trust Corporation % CHANGE VS. Key Indicators (in billions): 2Q 2026 1Q 2026 2Q 2025 Assets under Custody / Administration (AUC/A)1 $ 18,635 8% 10% Assets under Custody (AUC)1 $ 14,588 8% 12% Assets under Management (AUM)1 $ 1,436 12% 17% Average Deposits $ 101 (1)% 6% Average Loans $ 6 3% —% Asset Servicing Trust, Investment and Other Servicing Fees ($ in millions) +9% +2% 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Pre-Tax Profit2 $ 271 $ 294 $ 326 $ 373 $ 323 Pre-Tax Margin2 23 % 25 % 26 % 28 % 24 % % CHANGE QoQ YoY (14)% (3)% 26 % 46 % 2 % 10 % 3 % 9 % $469 $483 $496 $498 $512 $157 $160 $166 $169 $172 $20 $21 $23 $23 $29 $45 $43 $44 $50 $44 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Custody and Fund Administration Investment Management Securities Lending Other $692 $707 $730 $741 $757 Categories may not sum due to rounding. 1 Client assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. 2 4Q25 pre-tax margin included $43.6 million in notable items. 2Q26 pre-tax margin included $100.6 million in notable items. Asset Servicing Highlights

10northerntrust.com | © 2026 Northern Trust Corporation $615 $596 $654 $662 $683 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Net Interest Income (FTE¹) 1.69% 1.70% 1.81% 1.75% 1.81% Net Interest Margin (FTE¹) % CHANGE QoQ YoY (5)% 15 % 2 % 1 % 3 % 17 % (10)% (12)%$44 $34 $35 $43 $38 $52 $55 $57 $60 $61 $41 $42 $41 $41 $42 $9 $9 $11 $11 $10 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Federal Reserve and Other Central Bank Deposits Debt Securities Loans Other Earning Assets² Average Earning Assets ($ in billions) Net Interest Income (FTE¹) ($ in millions) 4% (2)% +11% +3% Net Interest Income and Balance Sheet Trends $146 $139 $143 $154 $151 Categories may not sum due to rounding. 1 Net interest income and net interest margin stated on an FTE basis are non-GAAP financial measures. A reconciliation of these measures to reported results prepared in accordance with U.S. GAAP is included in the Appendix on page 14. ² Other Earning Assets includes Interest-Bearing Due from and Deposits with Banks, Federal Funds Sold and Securities Purchased under Agreements to Resell, and Other Interest-Earning Assets.

11northerntrust.com | © 2026 Northern Trust Corporation $733 $741 $806 $822 $868 $247 $248 $248 $237 $246 $294 $294 $301 $308 $379$53 $55 $56 $51 $54 $91 $85 $85 $90 $92 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Compensation and Benefits Outside Services Equipment and Software Occupancy Other Operating Expense EXPENSE HIGHLIGHTS • Excluding notables1, noninterest expenses were up 5% vs. 2Q 2025 NOTABLES1 2Q26 : • $61.5 million software dispositions recognized in Equipment and Software • $51.0 million severance-related charges recognized in Compensation and Benefits • $33.1 million one-time equity grant to eligible employees, recognized in Compensation and Benefits expense 4Q25 : • $58.8 million severance-related charges: ◦ $58.2 million recognized in Compensation and Benefits ◦ $0.6 million recognized in Outside Services • $9.5 million FDIC reserve release recognized in Other Operating Expense Total Noninterest Expense ($ in millions) +9% % CHANGE QoQ YoY 3 % 2 % 4 % 2 % 23 % 29 % 4 % — % 6 % 18 % Noninterest Expense $1,417 $1,423 $1,497 $1,508 $1,639 +16% Categories may not sum due to rounding. 1Refer to page 15 for additional detail on notable items.

12northerntrust.com | © 2026 Northern Trust Corporation 7.6% 8.0% 7.8% 7.3% 7.6% 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 12.2% 12.4% 12.6% 12.0% 12.2% 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Standardized Tier 1 Leverage Northern Trust Corporation Capital Ratios 2Q 2026 Capital Ratios STANDARDIZED APPROACH ADVANCED APPROACH Common Equity Tier 1 Capital 12.2% 14.3% Tier 1 Capital 13.1% 15.3% Total Capital 15.5% 17.9% Tier 1 Leverage 7.6% 7.6% Supplementary Leverage N/A 8.6% Standardized Common Equity Tier 1 7.0% Regulatory Minimum 4.0% Regulatory Minimum Capital Update CAPITAL HIGHLIGHTS • Robust capital and liquidity ◦ $12.4 billion in Tier 1 capital ◦ 65% of average deposits covered by highly liquid assets including 30% by cash and central bank deposits ◦ Net unrealized after-tax losses on available-for-sale securities of $373.2 million as of June 30, 2026 • Declared $148.8 million in common stock dividends and $4.7 million in preferred stock dividends in 2Q 2026 • Repurchased $350.6 million of common stock in 2Q 2026 Capital ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission.

14northerntrust.com | © 2026 Northern Trust Corporation Reconciliation of Non-GAAP Financial Measures The following table presents a reconciliation of interest income, net interest income, net interest margin, total revenue, pre-tax income, and profit margin (pre-tax) prepared in accordance with GAAP to such measures on a fully taxable equivalent (FTE) basis, which are non-GAAP financial measures. Management believes this presentation provides a clearer indication of these financial measures for comparative purposes. The adjustment to an FTE basis has no impact on net income. QUARTERS YEARS 2026 2025 2026 YTD 2025 2024 2023 ($ 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 $ 4,423.4 $ 8,624.6 $ 9,762.3 $ 7,325.0 Add: FTE Adjustment $ 7.6 $ 7.6 $ 12.7 $ 5.5 $ 4.7 $ 15.2 $ 28.5 $ 31.8 $ 57.5 Interest Income (FTE) - Non-GAAP $ 2,196.9 $ 2,241.6 $ 2,139.3 $ 2,149.8 $ 2,217.5 $ 4,438.6 $ 8,653.1 $ 9,794.1 $ 7,382.5 Net Interest Income - GAAP $ 675.5 $ 654.0 $ 641.6 $ 590.8 $ 610.5 $ 1,329.5 $ 2,411.0 $ 2,177.1 $ 1,982.0 Add: FTE Adjustment $ 7.6 $ 7.6 $ 12.7 $ 5.5 $ 4.7 $ 15.2 $ 28.5 $ 31.8 $ 57.5 Net Interest Income (FTE) - Non-GAAP $ 683.1 $ 661.6 $ 654.3 $ 596.3 $ 615.2 $ 1,344.7 $ 2,439.5 $ 2,208.9 $ 2,039.5 Net Interest Margin - GAAP 1.79 % 1.73 % 1.78 % 1.68 % 1.68 % 1.76 % 1.70 % 1.62 % 1.52 % Net Interest Margin (FTE) - Non-GAAP 1.81 % 1.75 % 1.81 % 1.70 % 1.69 % 1.78 % 1.72 % 1.64 % 1.56 % Total Revenue Total Revenue - GAAP $ 2,698.0 $ 2,205.6 $ 2,123.1 $ 2,025.4 $ 1,997.9 $ 4,903.7 $ 8,086.4 $ 8,290.4 $ 6,773.5 Add: FTE Adjustment $ 7.6 $ 7.6 $ 12.7 $ 5.5 $ 4.7 $ 15.2 $ 28.5 $ 31.8 $ 57.5 Total Revenue (FTE) - Non-GAAP $ 2,705.6 $ 2,213.2 $ 2,135.8 $ 2,030.9 $ 2,002.6 $ 4,918.9 $ 8,114.9 $ 8,322.2 $ 6,831.0 Pre-Tax Income Pre-Tax Income - GAAP $ 1,064.7 $ 700.6 $ 633.8 $ 619.5 $ 564.8 $ 1,765.4 $ 2,339.5 $ 2,659.5 $ 1,464.8 Add: FTE Adjustment $ 7.6 $ 7.6 $ 12.7 $ 5.5 $ 4.7 $ 15.2 $ 28.5 $ 31.8 $ 57.5 Pre-Tax Income (FTE) - Non-GAAP $ 1,072.3 $ 708.2 $ 646.5 $ 625.0 $ 569.5 $ 1,780.6 $ 2,368.0 $ 2,691.3 $ 1,522.3 Profit Margin (Pre-Tax) Profit Margin (Pre-Tax) - GAAP 39.5 % 31.8 % 29.9 % 30.6 % 28.3 % 36.0 % 28.9 % 32.1 % 21.6 % Profit Margin (Pre-Tax) (FTE) - Non-GAAP 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % 36.2 % 29.2 % 32.3 % 22.3 %

15northerntrust.com | © 2026 Northern Trust Corporation Notable Item Summary QUARTERS YEARS 2026 2025 2026 YTD 2025 2024 2023 ($ in Millions) SECOND FOURTH Revenue Impacts, pre-tax Loss on investment securities sale $ (73.9) $ — $ (73.9) $ — $ (189.4) $ (169.5) Net gain related to Visa transaction $ 525.4 $ — $ 525.4 $ — $ 878.4 $ — Securities loss related to repositioning of supplemental pension plan $ — $ — $ — $ — $ (6.5) $ — Investment impairment $ — $ — $ — $ — $ (7.6) $ — Pre-tax gain related to the sale of an equity investment $ — $ — $ — $ — $ 68.1 $ — Expense related to Visa Class B swaps $ — $ (19.2) $ — $ (19.2) $ (12.8) $ — Total Revenue Impacts, pre-tax $ 451.5 $ (19.2) $ 451.5 $ (19.2) $ 730.2 $ (169.5) Expense Impacts, pre-tax FDIC special assessment $ — $ (9.5) $ — $ (9.5) $ 12.5 $ 84.6 Severance-related charges $ 51.0 $ 58.8 $ 51.0 $ 58.8 $ 85.2 $ 38.7 Equipment & software accelerations and dispositions charge $ 61.5 $ — $ 61.5 $ — $ 16.4 $ — One-time equity grant to eligible employees $ 33.1 $ — $ 33.1 $ — $ — $ — Contribution to Northern Trust Foundation $ — $ — $ — $ — $ 70.0 $ — Legal settlement charge $ — $ — $ — $ — $ 10.6 $ — Client capability charge $ — $ — $ — $ — $ — $ 25.6 Occupancy charge $ — $ — $ — $ — $ — $ 12.8 Total Expense Impacts, pre-tax $ 145.6 $ 49.3 $ 145.6 $ 49.3 $ 194.7 $ 161.7

16northerntrust.com | © 2026 Northern Trust Corporation Forward-Looking Statements This presentation 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. This presentation should be reviewed together with Northern Trust Corporation’s Second Quarter 2026 earnings press release.