q22026trendreport

Financial Trends Second Quarter 2026 July 22, 2026 The historical financial results and trends reflected in this report are not indicative of future financial results and trends for Northern Trust Corporation. This report should be read in conjunction with the Corporation's Second Quarter 2026 earnings press release, 2025 Annual Report to Shareholders and periodic reports to the Securities and Exchange Commission, all of which contain additional information about factors that could affect the Corporation's future financial results and trends. The Corporation assumes no obligation to update this report.

TABLE OF CONTENTS 1 7 Financial Summary Interest Rate Trends 2 8 Net Income Trends Asset Quality 3 9 Reporting Segment Results Client Assets 4 10 Balance Sheet (EOP) Reconciliation to FTE 5 11 Regulatory Capital Reconciliation to FTE (Ratios) 6 Balance Sheet Trends

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 792.2 $ 525.5 $ 466.0 $ 457.6 $ 421.3 51 % 88 % $ 1,317.8 $ 813.3 62 % 782.2 504.7 457.0 437.2 412.8 55 % 90 % 1,287.1 785.0 64 % 183,994 185,499 187,532 190,054 192,752 (1)% (5)% 184,742 193,966 (5)% 184,890 186,539 188,582 191,001 193,375 (1)% (4)% 185,710 194,742 (5)% $ 4.25 $ 2.72 $ 2.44 $ 2.30 $ 2.14 56 % 98 % $ 6.97 $ 4.05 72 % 4.23 2.71 2.42 2.29 2.13 56 % 98 % 6.93 4.03 72 % $ 0.80 $ 0.80 $ 0.80 $ 0.80 $ 0.75 — % 7 % $ 1.60 $ 1.50 7 % 18.9 % 29.5 % 33.1 % 34.9 % 35.2 % (10.6) pts (16.3) pts 23.1 % 37.2 % (14.1) pts $ 173.84 $ 139.57 $ 136.59 $ 134.60 $ 126.79 25 % 37 % $ 173.84 $ 126.79 37 % 68.41 65.40 64.79 63.83 62.65 5 % 9 % 68.41 62.65 9 % 25.9 % 17.4 % 15.4 % 14.8 % 14.2 % 8.5 pts 11.7 pts 21.7 % 13.6 % 8.1 pts 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % 7.6 pts 11.2 pts 36.2 % 27.8 % 8.4 pts 74.8 % 70.1 % 69.4 % 70.6 % 69.3 % 4.7 pts 5.5 pts 72.7 % 69.9 % 2.8 pts 49.9 % 60.6 % 61.2 % 62.3 % 61.5 % (10.7) pts (11.6) pts 54.7 % 61.9 % (7.2) pts Common Equity Tier 1 Capital 12.2 % 12.0 % 12.6 % 12.4 % 12.2 % 0.2 pts — pts 12.2 % 12.2 % — pts Tier 1 Capital 13.1 % 12.9 % 13.5 % 13.4 % 13.1 % 0.2 pts — pts 13.1 % 13.1 % — pts Total Capital 15.5 % 15.3 % 16.1 % 15.1 % 14.8 % 0.2 pts 0.7 pts 15.5 % 14.8 % 0.7 pts Tier 1 Leverage 7.6 % 7.3 % 7.8 % 8.0 % 7.6 % 0.3 pts — pts 7.6 % 7.6 % — pts Common Equity Tier 1 Capital 14.3 % 14.3 % 15.0 % 15.1 % 15.0 % — pts (0.7) pts 14.3 % 15.0 % (0.7) pts Tier 1 Capital 15.3 % 15.3 % 16.0 % 16.2 % 16.1 % — pts (0.8) pts 15.3 % 16.1 % (0.8) pts Total Capital 17.9 % 18.0 % 18.8 % 18.0 % 17.9 % (0.1) pts — pts 17.9 % 17.9 % — pts Tier 1 Leverage 7.6 % 7.3 % 7.8 % 8.0 % 7.6 % 0.3 pts — pts 7.6 % 7.6 % — pts Supplementary Leverage 8.6 % 8.5 % 8.7 % 8.9 % 9.1 % 0.1 pts (0.5) pts 8.6 % 9.1 % (0.5) pts $ 20,000.2 $ 18,553.9 $ 18,716.1 $ 18,247.6 $ 18,068.3 8 % 11 % $ 20,000.2 $ 18,068.3 11 % 15,938.8 14,775.3 14,889.1 14,439.1 14,243.7 8 % 12 % 15,938.8 14,243.7 12 % 1,969.9 1,784.9 1,803.2 1,772.7 1,697.7 10 % 16 % 1,969.9 1,697.7 16 % 23,600 23,600 23,800 23,600 23,400 — % 1 % 23,600 23,400 1 % (1) (2) (3) Profitability ($ in Millions): Northern Trust Corporation FINANCIAL SUMMARY Earnings Allocated to Common Shares Net Income Year-to Date% Change Q2 2026 vs. Earnings Per Share: Average common shares outstanding (000s): Basic Return on Average Common Equity Diluted Diluted Basic Earnings Per Share Dividend Payout Ratio Per Share Information / Ratios: Cash Dividends Declared Per Common Share Trust Fees to Total Revenue (FTE)(1) Market Value Per Share (End of Period) Capital Ratios:(2) Standardized Approach Financial Ratios: Book Value Per Common Share (End of Period) Noninterest Income to Total Revenue (FTE)(1) Pre-Tax Margin (FTE)(1) Regulatory Capital, Risk-Weighted Assets and resulting ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Fully taxable equivalent (FTE). Presentation on an FTE basis is a non-generally accepted accounting principle financial measure. Please refer to the Reconciliation to Fully Taxable Equivalent - Ratios on page 11 for further detail. Client Assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Advanced Approach Client Assets - End of Period ($ in Billions): (3) Assets Under Custody/Administration Full Time Equivalent Employees Assets Under Management Assets Under Custody 1

% Change(2) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change(2) $ 757.4 $ 740.5 $ 729.6 $ 706.9 $ 691.8 2 % 9 % $ 1,497.9 $ 1,363.7 10 % 592.1 600.9 577.8 558.6 539.3 (1)% 10 % 1,193.0 1,081.2 10 % Total Fees 1,349.5 1,341.4 1,307.4 1,265.5 1,231.1 1 % 10 % 2,690.9 2,444.9 10 % 97.1 87.7 74.3 57.2 50.6 11 % 92 % 184.8 109.3 69 % 55.6 52.1 49.9 41.8 39.6 7 % 40 % 107.7 78.7 37 % 594.2 70.4 49.9 70.1 66.1 N/M N/M 664.7 126.4 N/M (73.9) — — — — N/M N/M (73.9) — N/M Total Noninterest Income 2,022.5 1,551.6 1,481.5 1,434.6 1,387.4 30 % 46 % 3,574.2 2,759.3 30 % 683.1 661.6 654.3 596.3 615.2 3 % 11 % 1,344.7 1,188.9 13 % Total Revenue (FTE) (1) 2,705.6 2,213.2 2,135.8 2,030.9 2,002.6 22 % 35 % 4,918.9 3,948.2 25 % (5.3) (3.0) (8.0) (17.0) 16.5 N/M N/M (8.3) 17.5 N/M 868.0 822.2 806.3 740.5 732.5 6 % 18 % 1,690.2 1,486.6 14 % 246.3 236.7 248.1 248.2 247.0 4 % — % 483.0 492.2 (2)% 378.5 308.1 301.1 294.2 293.7 23 % 29 % 686.6 574.6 19 % 53.5 51.3 56.4 55.0 52.5 4 % 2 % 104.8 105.9 (1)% 92.3 89.7 85.4 85.0 90.9 3 % 2 % 182.0 174.9 4 % Total Noninterest Expense 1,638.6 1,508.0 1,497.3 1,422.9 1,416.6 9 % 16 % 3,146.6 2,834.2 11 % Income before Income Taxes (FTE) (1) 1,072.3 708.2 646.5 625.0 569.5 52 % 89 % 1,780.6 1,096.5 63 % 272.5 175.1 167.8 161.9 143.5 56 % 90 % 447.6 272.9 64 % 7.6 7.6 12.7 5.5 4.7 — % 59 % 15.2 10.3 48 % Total Taxes (FTE) (1) 280.1 182.7 180.5 167.4 148.2 53 % 89 % 462.8 283.2 63 % Net Income $ 792.2 $ 525.5 $ 466.0 $ 457.6 $ 421.3 51 % 88 % $ 1,317.8 $ 813.3 62 % $ 4.25 $ 2.72 $ 2.44 $ 2.30 $ 2.14 56 % 98 % $ 6.97 $ 4.05 72 % $ 4.23 $ 2.71 $ 2.42 $ 2.29 $ 2.13 56 % 98 % $ 6.93 $ 4.03 72 % 184,890 186,539 188,582 191,001 193,375 (1)% (4)% 185,710 194,742 (5)% $ 4.7 $ 16.2 $ 4.7 $ 16.2 $ 4.7 (71)% — % $ 20.9 $ 20.9 — % 26.1 % 25.8 % 27.9 % 26.8 % 26.0 % 0.3 pts 0.1 pts 26.0 % 25.8 % 0.2 pts Asset Servicing Trust, Investment and Other Servicing Fees ($ in Millions except per share information) NET INCOME TRENDS Northern Trust Corporation Q2 2026 vs. Year-to Date WM Trust, Investment and Other Servicing Fees Foreign Exchange Trading Income Security Commissions and Trading Income Investment Security Gains (Losses), net Other Operating Income Net Interest Income (FTE)(1) Provision for Credit Losses Outside Services Compensation and Benefits Equipment and Software Occupancy Other Operating Expense Provision for Income Taxes Taxable Equivalent Adjustment Earnings Per Share - Basic (1) Fully taxable equivalent (FTE). Presentation on an FTE basis is a non-generally accepted accounting principle financial measure. Please refer to the Reconciliation to Fully Taxable Equivalent on page 11 for further detail. (2) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Average Diluted Shares (000s) Earnings Per Share - Diluted Preferred Dividends Effective Tax Rate (FTE)(1) 2

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 512.3 $ 497.6 $ 496.4 $ 482.7 $ 469.2 3 % 9 % $ 1,009.9 $ 922.5 9 % 172.2 169.2 165.8 159.6 157.3 2 % 10 % 341.4 309.8 10 % 29.4 23.3 23.1 21.2 20.2 26 % 46 % 52.8 38.1 39 % 43.5 50.4 44.3 43.4 45.1 (14)% (3)% 93.8 93.3 1 % Total Asset Servicing Trust, Investment and Other Servicing Fees $ 757.4 $ 740.5 $ 729.6 $ 706.9 $ 691.8 2 % 9 % $ 1,497.9 $ 1,363.7 10 % $ 323.3 $ 373.3 $ 325.8 $ 294.4 $ 271.4 (13)% 19 % $ 696.6 $ 506.9 37 % 23.7 % 28.3 % 25.5 % 24.7 % 23.2 % (4.6) pts 0.5 pts 26.0 % 22.1 % 3.9 pts $ 5,800.6 $ 5,632.5 $ 5,746.0 $ 5,399.9 $ 5,812.8 3 % — % $ 5,717.0 $ 5,781.2 (1)% 100,980.6 102,421.0 92,611.0 90,195.3 95,506.7 (1)% 6 % 101,696.8 92,418.8 10 % $ 483.0 $ 486.0 $ 470.5 $ 457.1 $ 434.8 (1)% 11 % $ 969.0 $ 872.9 11 % 109.1 114.9 107.3 101.5 104.5 (5)% 4 % 224.0 208.3 8 % Total Wealth Management Trust, Investment and Other Servicing Fees $ 592.1 $ 600.9 $ 577.8 $ 558.6 $ 539.3 (1)% 10 % $ 1,193.0 $ 1,081.2 10 % $ 333.5 $ 330.2 $ 341.8 $ 342.4 $ 309.6 1 % 8 % $ 663.8 $ 613.7 8 % 37.4 % 37.1 % 38.9 % 40.5 % 37.2 % 0.3 pts 0.2 pts 37.2 % 37.1 % 0.1 pts $ 35,767.0 $ 35,261.8 $ 34,812.3 $ 36,100.7 $ 35,345.2 1 % 1 % $ 35,515.8 $ 35,336.2 1 % 26,715.1 26,469.8 26,572.2 25,370.4 25,291.0 1 % 6 % 26,593.1 25,290.3 5 % $ 415.5 $ 4.7 $ (21.1) $ (11.8) $ (11.5) N/M N/M $ 420.2 $ (24.1) N/M 150.0 141.0 646.0 1,134.9 1,580.1 6 % (91)% 145.5 1,457.2 (90)% (1) (2) Asset Servicing Custody & Fund Administration Northern Trust Corporation Reporting Segment Results(1) ($ in Millions) Year-to Date% Change Q2 2026 vs. Other Investment Management Securities Lending Income before Income Taxes (FTE)(2) Pre-Tax Margin (FTE)(2) Wealth Management Average Deposits Average Loans Global Family Office Private Wealth Income before Income Taxes (FTE)(2) Pre-Tax Margin (FTE)(2) Average Deposits Average Loans Fully taxable equivalent (FTE). Presentation on an FTE basis is a non-generally accepted accounting principle financial measure. Please refer to the Reconciliation to Fully Taxable Equivalent section on pages 10 and 11 for further detail. Reporting segment results are subject to reclassification when organizational changes are made. The results are also subject to refinements in revenue and expense allocation methodologies, which are typically reflected on a retrospective basis unless it is impractical to do so. Average Deposits Other Income before Income Taxes (FTE)(2) 3

6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 50,556.4 $ 41,757.3 $ 53,456.0 $ 49,328.9 $ 52,265.5 21 % (3)% 6,160.0 6,343.0 6,540.8 6,404.5 6,800.9 (3)% (9)% 426.5 1,678.9 2,654.1 1,856.3 921.9 (75)% (54)% Available For Sale 38,123.1 36,913.2 34,036.5 32,889.2 32,250.4 3 % 18 % Held To Maturity 23,492.1 24,286.2 23,429.6 22,974.9 21,400.8 (3)% 10 % Total Debt Securities 61,615.2 61,199.4 57,466.1 55,864.1 53,651.2 1 % 15 % 43,822.0 42,505.5 41,948.3 42,949.4 43,323.4 3 % 1 % 3,499.3 8,415.9 4,128.9 2,676.2 2,522.6 (58)% 39 % Total Earning Assets 166,079.4 161,900.0 166,194.2 159,079.4 159,485.5 3 % 4 % (168.4) (169.7) (175.0) (174.6) (188.5) (1)% (11)% 1,201.7 1,407.7 1,130.7 976.8 2,035.1 (15)% (41)% 447.6 447.5 464.6 457.1 467.7 — % (4)% 709.6 709.5 712.9 712.9 714.6 — % (1)% 11,027.3 10,279.3 8,805.3 9,211.7 9,369.2 7 % 18 % Total Assets $ 179,297.2 $ 174,574.3 $ 177,132.7 $ 170,263.3 $ 171,883.6 3 % 4 % $ 34,419.1 $ 29,309.7 $ 28,984.1 $ 29,040.1 $ 27,965.1 17 % 23 % 4,686.9 5,238.4 6,418.9 7,358.7 6,742.5 (11)% (30)% 78,274.0 75,850.7 80,046.1 73,509.9 77,206.9 3 % 1 % Total Interest-Bearing Deposits 117,380.0 110,398.8 115,449.1 109,908.7 111,914.5 6 % 5 % 1,568.9 1,974.3 2,141.1 1,751.9 2,388.5 (21)% (34)% 175.6 330.5 292.2 371.5 841.4 (47)% (79)% 8,627.2 7,839.5 7,158.3 6,580.0 6,532.9 10 % 32 % 3,331.2 3,345.5 3,351.5 2,847.2 2,835.2 — % 17 % 2,073.3 2,881.6 3,484.4 4,094.3 4,089.8 (28)% (49)% Total Interest-Bearing Liabilities 133,156.2 126,770.2 131,876.6 125,553.6 128,602.3 5 % 4 % 28,200.0 29,299.4 27,348.6 25,892.4 25,139.2 (4)% 12 % 4,539.4 5,517.4 4,949.6 5,861.3 5,275.6 (18)% (14)% Total Liabilities 165,895.6 161,587.0 164,174.8 157,307.3 159,017.1 3 % 4 % 13,068.4 12,739.0 12,663.5 12,706.2 12,680.8 3 % 3 % (551.7) (636.6) (590.5) (635.1) (699.2) (13)% (21)% 884.9 884.9 884.9 884.9 884.9 — % — % Total Stockholders' Equity 13,401.6 12,987.3 12,957.9 12,956.0 12,866.5 3 % 4 % Total Liabilities and Stockholders' Equity $ 179,297.2 $ 174,574.3 $ 177,132.7 $ 170,263.3 $ 171,883.6 3 % 4 % (1) (2) (3) (4) (5) Assets BALANCE SHEET END OF PERIOD Northern Trust Corporation ($ in Millions) 6/30/2026(5) vs. Federal Reserve and Other Central Bank Deposits Interest-Bearing Due from and Deposits with Banks(1) Federal Funds Sold and Securities Purchased under Agreements to Resell Debt Securities: Loans Other Interest-Earning Assets(2) Allowance for Credit Losses Cash and Due From Banks and Other Central Bank Deposits(3) Buildings and Equipment Goodwill Other Assets Liabilities and Stockholders' Equity Non-U.S. Offices - Interest-Bearing Federal Funds Purchased Securities Sold under Agreements to Repurchase Savings Certificates and Other Time Savings, Money Market and Other Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago . Demand and Other Noninterest-Bearing Deposits Other Borrowings(4) Senior Notes Long-Term Debt Accumulated Other Comprehensive Income (Loss) Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC. Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC. Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC. Common Equity, excluding Accumulated Other Comprehensive Income Other Liabilities Preferred Equity 4

6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 Common Equity Tier 1 Capital $ 11,605.6 $ 11,173.5 $ 11,192.5 $ 11,199.3 $ 11,108.2 4 % 4 % Tier 1 Capital 12,418.7 11,995.5 12,008.5 12,028.1 11,938.5 4 % 4 % Total Capital 14,706.5 14,288.1 14,304.2 13,581.9 13,508.9 3 % 9 % Risk-Weighted Assets 95,157.3 93,150.8 89,015.4 90,033.7 91,385.4 2 % 4 % Common Equity Tier 1 Capital Ratio 12.2 % 12.0 % 12.6 % 12.4 % 12.2 % 0.2 pts — pts Tier 1 Capital Ratio 13.1 % 12.9 % 13.5 % 13.4 % 13.1 % 0.2 pts — pts Total Capital Ratio 15.5 % 15.3 % 16.1 % 15.1 % 14.8 % 0.2 pts 0.7 pts Common Equity Tier 1 Capital $ 11,605.6 $ 11,173.5 $ 11,192.5 $ 11,199.3 $ 11,108.2 4 % 4 % Tier 1 Capital 12,418.7 11,995.5 12,008.5 12,028.1 11,938.5 4 % 4 % Total Capital 14,516.2 14,092.9 14,105.8 13,375.2 13,285.6 3 % 9 % Risk-Weighted Assets 81,119.6 78,198.0 74,843.6 74,329.4 74,176.8 4 % 9 % Common Equity Tier 1 Capital Ratio 14.3 % 14.3 % 15.0 % 15.1 % 15.0 % — pts (0.7) pts Tier 1 Capital Ratio 15.3 % 15.3 % 16.0 % 16.2 % 16.1 % — pts (0.8) pts Total Capital Ratio 17.9 % 18.0 % 18.8 % 18.0 % 17.9 % (0.1) pts — pts Average Adjusted Total Assets $ 162,601.3 $ 164,381.7 $ 154,083.9 $ 150,208.9 $ 156,854.5 (1)% 4 % Tier 1 Leverage Ratio 7.6 % 7.3 % 7.8 % 8.0 % 7.6 % 0.3 pts — pts Supplementary Leverage Exposure $ 144,498.8 $ 141,713.4 $ 138,123.4 $ 135,904.7 $ 131,379.4 2 % 10 % Supplementary Leverage Ratio 8.6 % 8.5 % 8.7 % 8.9 % 9.1 % 0.1 pts (0.5) pts (1) REGULATORY CAPITAL(1) END OF PERIOD Northern Trust Corporation ($ in Millions) Advanced Approach Supplementary Leverage Leverage 6/30/2026 vs. Regulatory Capital, Risk-Weighted Assets and resulting ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Standardized Approach 5

% Change(5) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change(5) $ 38,322.9 $ 42,554.7 $ 35,035.8 $ 33,754.2 $ 43,655.3 (10)% (12)% $ 40,427.1 $ 40,426.1 — % 6,304.2 6,014.6 6,049.6 5,237.7 5,321.5 5 % 18 % 6,160.2 5,100.7 21 % 521.9 1,186.8 1,593.7 1,300.4 713.2 (56)% (27)% 852.5 554.7 54 % Available For Sale 37,775.8 35,780.4 33,714.2 33,022.7 31,415.0 6 % 20 % 36,783.6 30,795.1 19 % Held To Maturity 23,604.2 23,883.3 23,151.0 22,129.7 20,895.9 (1)% 13 % 23,743.0 21,356.3 11 % Total Debt Securities 61,380.0 59,663.7 56,865.2 55,152.4 52,310.9 3 % 17 % 60,526.6 52,151.4 16 % 41,567.6 40,894.3 40,558.3 41,500.6 41,158.0 2 % 1 % 41,232.8 41,117.4 — % 3,194.6 3,363.3 2,935.5 2,393.6 2,663.1 (5)% 20 % 3,278.5 2,586.2 27 % Total Earning Assets 151,291.2 153,677.4 143,038.1 139,338.9 145,822.0 (2)% 4 % 152,477.7 141,936.5 7 % (169.9) (175.1) (174.8) (188.0) (174.9) (3)% (3)% (172.5) (175.2) (2)% 1,313.9 1,137.0 1,185.1 1,159.3 1,069.8 16 % 23 % 1,225.9 1,055.6 16 % 453.1 459.8 462.3 468.4 479.3 (1)% (5)% 456.4 482.0 (5)% 712.5 713.5 711.0 712.6 709.1 — % — % 713.0 702.8 1 % 9,975.0 9,484.7 9,704.0 9,550.3 9,813.9 5 % 2 % 9,731.3 10,009.6 (3)% Total Assets $ 163,575.8 $ 165,297.3 $ 154,925.7 $ 151,041.5 $ 157,719.2 (1)% 4 % $ 164,431.8 $ 154,011.3 7 % $ 32,356.8 $ 29,244.9 $ 27,725.8 $ 28,348.7 $ 28,797.4 11 % 12 % $ 30,809.5 $ 28,261.9 9 % 5,059.1 5,785.2 6,754.3 6,700.1 6,652.0 (13)% (24)% 5,420.1 6,762.4 (20)% 70,929.3 75,261.9 67,454.2 65,354.5 70,158.0 (6)% 1 % 73,083.6 67,321.9 9 % Total Interest-Bearing Deposits 108,345.2 110,292.0 101,934.3 100,403.3 105,607.4 (2)% 3 % 109,313.2 102,346.2 7 % 2,338.3 2,576.7 2,357.7 2,467.7 2,469.0 (9)% (5)% 2,456.9 2,431.5 1 % 677.2 483.8 499.2 500.4 584.6 40 % 16 % 581.0 513.9 13 % 8,255.7 7,638.3 7,059.4 6,938.4 7,008.2 8 % 18 % 7,948.7 7,016.2 13 % 3,335.9 3,352.8 3,087.3 2,839.6 2,818.2 (1)% 18 % 3,344.3 2,800.0 19 % 2,856.9 3,472.7 3,909.8 4,092.0 4,087.8 (18)% (30)% 3,163.1 4,085.7 (23)% Total Interest-Bearing Liabilities 125,809.2 127,816.3 118,847.7 117,241.4 122,575.2 (2)% 3 % 126,807.2 119,193.5 6 % 19,500.5 18,739.8 17,894.9 16,297.3 16,770.4 4 % 16 % 19,122.2 16,820.1 14 % 5,171.5 5,980.0 5,404.7 4,795.8 5,761.5 (14)% (10)% 5,573.6 5,389.6 3 % Total Liabilities 150,481.2 152,536.1 142,147.3 138,334.5 145,107.1 (1)% 4 % 151,503.0 141,403.2 7 % 12,778.5 12,443.4 12,508.2 12,496.7 12,500.4 3 % 2 % 12,611.8 12,513.7 1 % (568.8) (567.1) (614.7) (674.6) (773.2) — % (26)% (567.9) (790.5) (28)% 884.9 884.9 884.9 884.9 884.9 — % — % 884.9 884.9 — % Total Stockholders' Equity 13,094.6 12,761.2 12,778.4 12,707.0 12,612.1 3 % 4 % 12,928.8 12,608.1 3 % Total Liabilities and Stockholders' Equity $ 163,575.8 $ 165,297.3 $ 154,925.7 $ 151,041.5 $ 157,719.2 (1)% 4 % $ 164,431.8 $ 154,011.3 7 % (1) (2) (3) (4) (5) Assets Northern Trust Corporation BALANCE SHEET TRENDS PERIOD AVERAGES ($ in Millions) Q2 2026 vs. Year-to Date Federal Reserve and Other Central Bank Deposits Interest-Bearing Due from and Deposits with Banks(1) Federal Funds Sold and Securities Purchased under Agreements to Resell Debt Securities: Loans Other Interest-Earning Assets(2) Allowance for Credit Losses Cash and Due From Banks and Other Central Bank Deposits(3) Buildings and Equipment Goodwill Other Assets Liabilities and Stockholders' Equity Savings Certificates and Other Time Non-U.S. Offices - Interest-Bearing Federal Funds Purchased Savings, Money Market and Other Other Liabilities Demand and Other Noninterest-Bearing Deposits Securities Sold under Agreements to Repurchase Other Borrowings(4) Senior Notes Long-Term Debt Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago. Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC. Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Common Equity, excluding Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss) Preferred Equity Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC. Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC. 6

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change 3.44 % 3.46 % 3.63 % 3.84 % 4.01 % (2) bps (57) bps 3.45 % 4.07 % (62) bps 1.16 % 1.31 % 1.35 % 1.57 % 1.64 % (15) bps (48) bps 1.23 % 1.79 % (56) bps 602.18 % 282.59 % 183.61 % 217.12 % 389.92 % 31,959 bps 21,226 bps 380.96 % 501.67 % (12,071) bps 4.22 % 4.18 % 4.41 % 4.60 % 4.69 % 4 bps (47) bps 4.20 % 4.71 % (51) bps 2.06 % 2.05 % 1.85 % 1.79 % 1.85 % 1 bps 21 bps 2.06 % 1.90 % 16 bps 3.39 % 3.33 % 3.37 % 3.47 % 3.56 % 6 bps (17) bps 3.36 % 3.56 % (20) bps 4.99 % 5.08 % 5.33 % 5.59 % 5.62 % (9) bps (63) bps 5.04 % 5.65 % (61) bps 3.73 % 3.62 % 4.44 % 3.81 % 3.81 % 11 bps (8) bps 3.68 % 3.85 % (17) bps 5.82 % 5.92 % 5.93 % 6.12 % 6.10 % (10) bps (28) bps 5.87 % 6.20 % (33) bps 2.58 % 2.57 % 2.72 % 3.16 % 3.10 % 1 bps (52) bps 2.58 % 3.11 % (53) bps 3.68 % 3.87 % 4.14 % 4.25 % 4.31 % (19) bps (63) bps 3.78 % 4.40 % (62) bps 1.75 % 1.89 % 1.89 % 2.19 % 2.45 % (14) bps (70) bps 1.82 % 2.52 % (70) bps 2.09 % 2.18 % 2.26 % 2.60 % 2.74 % (9) bps (65) bps 2.13 % 2.81 % (68) bps 3.36 % 3.35 % 3.59 % 3.99 % 3.97 % 1 bps (61) bps 3.36 % 3.98 % (62) bps 455.90 % 674.42 % 567.72 % 551.02 % 467.05 % (21,852) bps (1,115) bps 546.37 % 531.30 % 1,507 bps 3.88 % 4.01 % 4.17 % 4.55 % 4.60 % (13) bps (72) bps 3.94 % 4.60 % (66) bps 4.95 % 4.97 % 5.19 % 5.50 % 5.55 % (2) bps (60) bps 4.96 % 5.60 % (64) bps 5.38 % 5.35 % 5.38 % 5.46 % 5.48 % 3 bps (10) bps 5.37 % 5.50 % (13) bps 4.83 % 5.01 % 4.96 % 5.26 % 5.24 % (18) bps (41) bps 4.92 % 5.37 % (45) bps 0.99 % 0.91 % 0.97 % 0.86 % 0.86 % 8 bps 13 bps 0.95 % 0.83 % 12 bps 1.81 % 1.75 % 1.81 % 1.70 % 1.69 % 6 bps 12 bps 1.78 % 1.69 % 9 bps (1) (2) (3) (4) (5) (6) (7) Earnings Assets Northern Trust Corporation INTEREST RATE TRENDS (FTE(1) Basis) PERIOD AVERAGES Net Interest Income (FTE Adjusted), a non-GAAP financial measure, includes adjustments to a fully taxable equivalent basis for loans and securities. A reconciliation of net interest income, net interest margin, and net interest spread on a GAAP basis to net interest income, net interest margin, and net interest spread on an FTE basis, respectively, (each of which is a non-GAAP financial measure) is provided on pages 10 and 11. Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets. Net interest spread is calculated as the difference between the interest rate earned (annualized interest income divided by average interest-earning assets) and the interest rate incurred (annualized interest expense divided by average interest-related funds). Year-to Date Q2 2026 vs. Debt Securities: Federal Funds Sold and Securities Purchased under Agreements to Resell (3)(4) Interest-Bearing Due from and Deposits with Banks (2) Federal Reserve and Other Central Bank Deposits Available for Sale Held to Maturity Total Debt Securities Total Earning Assets Other Interest-Earning Assets(5) Loans and Leases Non-U.S. Offices - Interest-Bearing Savings Certificates and Other Time Savings, Money Market and Other Interest-Bearing Funds Total Interest-Bearing Deposits Excluding the impact of netting, the average interest rate on Securities Sold under Agreements to Repurchase would be approximately 3.65% for the three months ended June 30, 2026 including balances and rates for FICC repurchase agreements ($84 billion / 3.65%) and Non-FICC repurchase agreements ($0.7 billion / 3.41%). Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago. Excluding the impact of netting, the average interest rate on Federal Funds Sold and Securities Purchased under Agreements to Resell would be approximately 3.72% for the three months ended June 30, 2026 including balances and rates for FICC reverse repurchase agreements ($84.1 billion / 3.72%), Non-FICC reverse repurchase agreements ($0.4 billion / 4.04%) and federal funds sold ($0.8 million / 3.85%). Includes the impact of balance sheet netting under master netting arrangements of approximately $84 billion for the three months ended June 30, 2026, primarily related to our involvement in FICC. Northern Trust nets securities sold under repurchase agreements against those purchased under resale agreements when the GAAP requirements to net are met. Federal Funds Purchased Securities Sold under Agreements to Repurchase (3)(6) Other Borrowings(7) Total Interest-Bearing Liabilities Long-Term Debt Senior Notes Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC. Fully taxable equivalent. FTE adjustments are based on a federal income tax rate of 21%, where the rate is adjusted for applicable state income taxes, net of related federal tax benefit. Net Interest Margin Net Interest Spread Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC. 7

6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 195.2 $ 198.3 $ 206.7 $ 224.1 $ 207.3 (2)% (6)% (5.3) (3.0) (8.0) (17.0) 16.5 N/M N/M (0.2) (0.4) (1.4) (2.1) (0.1) (50)% 100 % 0.6 0.3 1.0 1.7 0.4 100 % 50 % 0.4 (0.1) (0.4) (0.4) 0.3 N/M 33 % Ending Allowance for Credit Losses $ 190.3 $ 195.2 $ 198.3 $ 206.7 $ 224.1 (3)% (15)% Loans $ 160.9 $ 161.1 $ 164.3 $ 164.4 $ 180.5 — % (11)% Undrawn Loan Commitments and Standby Letters of Credit 21.9 25.5 23.3 32.1 34.7 (14)% (37)% Debt Securities and Other Financial Assets 7.5 8.6 10.7 10.2 8.9 (13)% (16)% $ 190.3 $ 195.2 $ 198.3 $ 206.7 $ 224.1 (3)% (15)% $ 41,568 $ 40,894 $ 40,558 $ 41,501 $ 41,158 2 % 1 % Average Loans — % — % — % — % — % — bps — bps $ 43,822 $ 42,506 $ 41,948 $ 42,949 $ 43,323 3 % 1 % to Total Loans 0.37 % 0.38 % 0.39 % 0.38 % 0.42 % (1) bps (5) bps $ 71.3 $ 55.0 $ 76.7 $ 78.8 $ 92.8 30 % (23)% — — — — — — % — % $ 71.3 $ 55.0 $ 76.7 $ 78.8 $ 92.8 30 % (23)% 0.16 % 0.13 % 0.18 % 0.18 % 0.21 % 3 bps (5) bps 2.3x 2.9x 2.1x 2.1x 1.9x -0.6x 0.4x Northern Trust Corporation END OF PERIOD ASSET QUALITY ($ in Millions) Provision for Credit Losses Beginning Allowance for Credit Losses June 30, 2026 vs. (Charge-offs) Recoveries Charge-offs Recoveries Net (Charge-offs) Recoveries Allowance for Credit Losses Assigned to: Total Allowance for Credit Losses Average Loans Outstanding Annualized Loan-Related Net (Charge-offs) Recoveries to Allowance for Credit Losses Assigned to Loans End of Period Loans Outstanding Loans Allowance to Nonaccrual Nonaccrual Loans Nonaccrual Assets Other Real Estate Owned (OREO) Total Nonaccrual Assets Nonaccrual Assets to Loans and OREO 8

6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 1,436.0 $ 1,287.3 $ 1,296.0 $ 1,280.1 $ 1,229.2 12 % 17 % Equities 787.0 688.3 712.6 702.5 666.7 14 % 18 % Fixed Income Securities 140.1 138.8 140.3 136.4 131.9 1 % 6 % Cash and Other Assets 269.8 244.2 235.3 235.1 225.2 10 % 20 % Securities Lending Collateral 239.1 216.0 207.8 206.1 205.4 11 % 16 % $ 533.9 $ 497.6 $ 507.2 $ 492.6 $ 468.5 7 % 14 % Equities 330.3 295.8 303.0 299.0 276.9 12 % 19 % Fixed Income Securities 96.8 94.8 94.9 93.6 91.6 2 % 6 % Cash and Other Assets 106.0 106.4 108.8 99.5 99.4 — % 7 % Securities Lending Collateral 0.8 0.6 0.5 0.5 0.6 33 % 33 % $ 1,969.9 $ 1,784.9 $ 1,803.2 $ 1,772.7 $ 1,697.7 10 % 16 % Equities $ 1,117.3 $ 984.1 $ 1,015.6 $ 1,001.5 $ 943.6 14 % 18 % Fixed Income Securities 236.9 233.6 235.2 230.0 223.5 1 % 6 % Cash and Other Assets 375.8 350.6 344.1 334.6 324.6 7 % 16 % Securities Lending Collateral 239.9 216.6 208.3 206.6 206.0 11 % 16 % $ 18,635.2 $ 17,288.6 $ 17,418.4 $ 16,990.4 $ 16,864.9 8 % 10 % 1,365.0 1,265.3 1,297.7 1,257.2 1,203.4 8 % 13 % $ 20,000.2 $ 18,553.9 $ 18,716.1 $ 18,247.6 $ 18,068.3 8 % 11 % $ 14,587.7 $ 13,521.1 $ 13,604.8 $ 13,195.0 $ 13,056.5 8 % 12 % Equities 7,252.6 6,425.2 6,582.0 6,402.7 6,420.1 13 % 13 % Fixed Income Securities 4,407.1 4,305.6 4,271.9 4,140.8 4,053.4 2 % 9 % Cash and Other Assets 2,688.9 2,574.3 2,543.1 2,445.4 2,377.6 4 % 13 % Securities Lending Collateral 239.1 216.0 207.8 206.1 205.4 11 % 16 % $ 1,351.1 $ 1,254.2 $ 1,284.3 $ 1,244.1 $ 1,187.2 8 % 14 % Equities 840.1 751.4 777.0 763.8 736.7 12 % 14 % Fixed Income Securities 171.1 161.8 163.9 157.1 149.6 6 % 14 % Cash and Other Assets 339.1 340.4 342.9 322.7 300.3 — % 13 % Securities Lending Collateral 0.8 0.6 0.5 0.5 0.6 33 % 33 % $ 15,938.8 $ 14,775.3 $ 14,889.1 $ 14,439.1 $ 14,243.7 8 % 12 % Equities $ 8,092.7 $ 7,176.6 $ 7,359.0 $ 7,166.5 $ 7,156.8 13 % 13 % Fixed Income Securities 4,578.2 4,467.4 4,435.8 4,297.9 4,203.0 2 % 9 % Cash and Other Assets 3,028.0 2,914.7 2,886.0 2,768.1 2,677.9 4 % 13 % Securities Lending Collateral 239.9 216.6 208.3 206.6 206.0 11 % 16 % $ 201.8 $ 187.5 $ 194.4 $ 186.1 $ 176.1 8 % 15 % 955.3 883.5 908.2 875.8 836.7 8 % 14 % (1) Northern Trust Corporation END OF PERIOD CLIENT ASSETS(1) ($ in Billions) Wealth Management Total Assets Under Custody / Administration Asset Servicing Assets Under Custody / Administration June 30, 2026 vs. Asset Servicing Asset allocation: Wealth Management Asset allocation: Asset allocation: Total Assets Under Management Assets Under Management Asset allocation: Assets Under Custody Asset Servicing Asset allocation: Wealth Management Client Assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Asset allocation: Total Assets Under Custody WM Global Family Office AUM WM Global Family Office AUC Memo 9

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 2,189.3 $ 2,234.0 $ 2,126.6 $ 2,144.3 $ 2,212.8 (2)% (1)% $ 4,423.4 $ 4,353.7 2 % 7.6 7.6 12.7 5.5 4.7 — % 62 % 15.2 10.3 48 % Interest Income (FTE) - Non-GAAP 2,196.9 2,241.6 2,139.3 2,149.8 2,217.5 (2)% (1)% 4,438.6 4,364.0 2 % 675.5 654.0 641.6 590.8 610.5 3 % 11 % 1,329.5 1,178.6 13 % 7.6 7.6 12.7 5.5 4.7 — % 62 % 15.2 10.3 48 % Net Interest Income (FTE) - Non-GAAP 683.1 661.6 654.3 596.3 615.2 3 % 11 % 1,344.7 1,188.9 13 % 2,698.0 2,205.6 2,123.1 2,025.4 1,997.9 22 % 35 % 4,903.7 3,937.9 25 % 7.6 7.6 12.7 5.5 4.7 — % 62 % 15.2 10.3 48 % Total Revenue (FTE) - Non-GAAP 2,705.6 2,213.2 2,135.8 2,030.9 2,002.6 22 % 35 % 4,918.9 3,948.2 25 % 1,064.7 700.6 633.8 619.5 564.8 52 % 89 % 1,765.4 1,086.2 63 % 7.6 7.6 12.7 5.5 4.7 — % 62 % 15.2 10.3 48 % Income before Income Taxes (FTE) - Non-GAAP 1,072.3 708.2 646.5 625.0 569.5 51 % 88 % 1,780.6 1,096.5 62 % 272.5 175.1 167.8 161.9 143.5 56 % 90 % 447.6 272.9 64 % 7.6 7.6 12.7 5.5 4.7 — % 62 % 15.2 10.3 48 % Provision for Income Taxes (FTE) - Non-GAAP 280.1 182.7 180.5 167.4 148.2 53 % 89 % 462.8 283.2 63 % ($ in Millions) RECONCILIATION TO FULLY TAXABLE EQUIVALENT Northern Trust Corporation % Change Q2 2026 vs. Northern Trust presents certain financial measures on a fully taxable equivalent (FTE) basis, which is a non-generally accepted accounting principle (GAAP). Management believes an FTE presentation provides a clearer indication of these financial measures for comparative purposes. Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income, consistent with industry practice. The adjustments are based on the federal income tax rate, where the rate is adjusted for applicable state income taxes, net of related federal tax benefit. When adjusted to an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income. Below is a reconciliation of the financial measures presented on an FTE basis. Income before Income Taxes - GAAP Add: FTE Adjustment Add: FTE Adjustment Provision for Income Taxes - GAAP Year-to Date Interest Income - GAAP Add: FTE Adjustment Add: FTE Adjustment Net Interest Income - GAAP Add: FTE Adjustment Total Revenue - GAAP 10

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q4 2025 Q1 2025 2026 2025 Change Pre-Tax Margin - GAAP (1) 39.5 % 31.8 % 29.9 % 30.6 % 28.3 % 7.7 pts 11.2 pts 36.0 % 27.6 % 8.4 pts Pre-Tax Margin (FTE) - Non-GAAP (1) 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % 7.6 pts 11.2 pts 36.2 % 27.8 % 8.4 pts Effective Tax Rate - GAAP (2) 25.6 % 25.0 % 26.5 % 26.1 % 25.4 % 0.6 pts 0.2 pts 25.4 % 25.1 % 0.3 pts Effective Tax Rate (FTE) - Non-GAAP (2) 26.1 % 25.8 % 27.9 % 26.8 % 26.0 % 0.3 pts 0.1 pts 26.0 % 25.8 % 0.2 pts Noninterest Income to Total Revenue - GAAP (3) 75.0 % 70.4 % 69.8 % 70.8 % 69.4 % 4.6 pts 5.6 pts 72.9 % 70.1 % 2.8 pts Noninterest Income to Total Revenue (FTE) - Non-GAAP (3) 74.8 % 70.1 % 69.4 % 70.6 % 69.3 % 4.7 pts 5.5 pts 72.7 % 69.9 % 2.8 pts Trust Fees to Total Revenue - GAAP (4) 50.0 % 60.8 % 61.6 % 62.5 % 61.6 % (10.8) pts (11.6) pts 54.9 % 62.1 % (7.2) pts Trust Fees to Total Revenue (FTE) - Non-GAAP (4) 49.9 % 60.6 % 61.2 % 62.3 % 61.5 % (10.7) pts (11.6) pts 54.7 % 61.9 % (7.2) pts Net Interest Spread - GAAP (5) 0.97 % 0.89 % 0.94 % 0.85 % 0.85 % 0.08 pts 0.12 pts 0.93 % 0.83 % 0.10 pts Net Interest Spread (FTE) - Non-GAAP (5) 0.99 % 0.91 % 0.97 % 0.86 % 0.86 % 0.08 pts 0.13 pts 0.95 % 0.83 % 0.12 pts Net Interest Margin - GAAP (6) 1.79 % 1.73 % 1.78 % 1.68 % 1.68 % 0.06 pts 0.11 pts 1.76 % 1.67 % 0.09 pts Net Interest Margin (FTE) - Non-GAAP (6) 1.81 % 1.75 % 1.81 % 1.70 % 1.69 % 0.06 pts 0.12 pts 1.78 % 1.69 % 0.09 pts (1) (2) (3) (4) (5) (6) Pre-Tax Margin is calculated by dividing income before income taxes by total revenue. Pre-Tax Margin on an FTE basis is calculated by dividing income before income taxes on an FTE basis by total revenue on an FTE basis. RATIOS RECONCILIATION TO FULLY TAXABLE EQUIVALENT Northern Trust Corporation Northern Trust presents certain financial measures on a fully taxable equivalent (FTE) basis, which is a non-generally accepted accounting principle (GAAP). Management believes an FTE presentation provides a clearer indication of these financial measures for comparative purposes. Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income, consistent with industry practice. The adjustments are based on the federal income tax rate, where the rate is adjusted for applicable state income taxes, net of related federal tax benefit. When adjusted to an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income. Below is a reconciliation of the financial ratios presented on an FTE basis. Q2 2026 vs. Year-to Date Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets. Net interest margin on an FTE basis is calculated by dividing annualized net interest income on an FTE basis by average interest-earning assets. Effective tax rate is calculated by dividing the provision for income taxes by income before income taxes. Effective tax rate on an FTE basis is calculated by dividing the provision for income taxes on an FTE basis by income before income taxes on an FTE basis. Noninterest income to total revenue is calculated by dividing noninterest income by total revenue. Noninterest income to total revenue on an FTE basis is calculated by dividing noninterest income by total revenue on an FTE basis. Trust fees to total revenue is calculated by dividing total trust, investment and other servicing fees by total revenue. Trust fees to total revenue on an FTE basis is calculated by dividing total trust, investment and other servicing fees by total revenue on an FTE basis. Net interest spread is calculated as the difference between the interest rate earned (annualized interest income divided by average interest-earning assets) and the interest rate incurred (annualized interest expense divided by average interest-related funds). Net interest spread on an FTE basis is calculated as the difference between the interest rate earned (annualized interest income on an FTE basis divided by average interest-earning assets) and the interest rate incurred (annualized interest expense divided by average interest-related funds). 11