Earnings release
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Exhibit 99.1 NEWS RELEASE www.northerntrust.com INVESTOR CONTACT: Stephen Carroll | 312-557-3474 | Stephen.Carroll@ntrs.com MEDIA CONTACT: John O'Connell | 312-444-2388 | John.O'Connell@ntrs.com NORTHERN TRUST CORPORATION REPORTS THIRD QUARTER NET INCOME OF $642.9 MILLION, EARNINGS PER DILUTED COMMON SHARE OF $3.40 CHICAGO, OCTOBER 21, 2026 — Northern Trust Corporation today reported third quarter net income per diluted common share of $3.40, compared to $4.23 in the second quarter of 2026 and $2.29 in the third quarter of 2025. Net income was $642.9 million, compared to $792.2 million in the prior quarter and $457.6 million in the prior-year quarter. Third Quarter 2026 results included the following notable items: • $48.7 million (pre-tax) impact to Other Noninterest Income from notable items (after-tax $36.8 million): • $34.0 million (pre-tax) gain on the sale of the guardianship services business, recognized in Other Operating Income (after-tax $25.7 million). • $14.7 million (pre-tax) incremental gain related to Northern Trust’s participation in the second Visa Exchange Offer, recognized in Other Operating Income (after-tax $11.1 million). MICHAEL O’GRADY, CHAIRMAN AND CHIEF EXECUTIVE OFFICER: “Northern Trust delivered strong third-quarter results, demonstrating continued progress against our One Northern Trust strategy. Compared to the prior year and excluding notable items, revenues grew 11%, while disciplined expense management generated more than 600 basis points of positive operating leverage. As a result, pretax income increased 21% and earnings per share increased 40%. All three businesses delivered organic trust-fee growth, reflecting strong execution across the company. Market conditions continued to evolve but remained constructive overall. Our diversified business model positions us to perform across a range of environments. Our strong capital position enabled us to return more than $1.5 billion to common shareholders year to date. As we enter the final quarter of the year, we remain focused on supporting our clients, investing in growth and delivering sustainable long- term value to shareholders.” FINANCIAL SUMMARY & KEY METRICS % Change Q3 2026 vs. ($ In Millions except per share data) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Trust, Investment and Other Servicing Fees $ 1,373.0 $ 1,349.5 $ 1,265.5 2 % 8 % Other Noninterest Income 250.0 673.0 169.1 (63) 48 Net Interest Income (FTE*) 679.1 683.1 596.3 (1) 14 Total Revenue (FTE*) $ 2,302.1 $ 2,705.6 $ 2,030.9 (15)% 13 % Noninterest Expense $ 1,492.5 $ 1,638.6 $ 1,422.9 (9)% 5 % Provision for Credit Losses 5.4 (5.3) (17.0) N/M N/M Provision for Income Taxes 153.6 272.5 161.9 (44) (5) FTE Adjustment* 7.7 7.6 5.5 1 41 Net Income $ 642.9 $ 792.2 $ 457.6 (19)% 40 % Earnings Allocated to Common Shares $ 621.9 $ 782.2 $ 437.2 (20)% 42 % Diluted Earnings per Common Share $ 3.40 $ 4.23 $ 2.29 (20) 48 Return on Average Common Equity 20.1 % 25.9 % 14.8 % Average Assets $ 159,235.9 $ 163,575.8 $ 151,041.5 (3)% 5 % (1) For Q2 2026, Other Noninterest Income included a $525.4 million gain related to Northern Trust's participation in the second Visa Exchange Offer and a $73.9 million loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio. (2) For Q2 2026, Noninterest Expense included a $61.5 million charge related to software dispositions, a $51.0 million severance-related charge, and a $33.1 million expense related to the the Invested as One equity grant to eligible employees. (*) Net interest income and total revenue presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail. N/M - Not meaningful (1)(2)
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS CLIENT ASSETS Assets under custody/administration (AUC/A) and assets under management are a driver of the Corporation’s trust, investment and otherservicing fees, the largest component of noninterest income. As of % Change September 30, 2026 vs. ($ In Billions) September 30,2026* June 30, 2026 September 30,2025 June 30, 2026 September 30, 2025 Assets Under Custody/Administration Asset Servicing $ 18,533.7 $ 18,635.2 $ 16,990.4 (1)% 9 % Wealth Management 1,362.9 1,365.0 1,257.2 — 8 Total Assets Under Custody/Administration $ 19,896.6 $ 20,000.2 $ 18,247.6 (1)% 9 % Assets Under Custody Asset Servicing $ 14,452.9 $ 14,587.7 $ 13,195.0 (1)% 10 % Wealth Management 1,348.3 1,351.1 1,244.1 — 8 Total Assets Under Custody $ 15,801.2 $ 15,938.8 $ 14,439.1 (1)% 9 % Assets Under Management Asset Servicing $ 1,427.1 $ 1,436.0 $ 1,280.1 (1)% 11 % Wealth Management 535.9 533.9 492.6 — 9 Total Assets Under Management $ 1,963.0 $ 1,969.9 $ 1,772.7 — % 11 % Assets Under Custody are a component of Assets Under Custody/Administration. Client assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission. Total assets under custody/administration and assets under custody increased from the prior-year quarter, primarily driven by favorable markets and net client inflows. Total assets under management increased compared to the prior-year quarter primarily reflecting favorable markets and net client inflows. TRUST, INVESTMENT AND OTHER SERVICING FEES % Change Q3 2026 vs. ($ In Millions) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Asset Servicing Custody and Fund Administration $ 511.7 $ 512.3 $ 482.7 — % 6 % Investment Management 175.6 172.2 159.6 2 10 Securities Lending 29.4 29.4 21.2 — 38 Other 44.8 43.5 43.4 3 3 Total Asset Servicing Trust, Investment and Other Servicing Fees $ 761.5 $ 757.4 $ 706.9 1 % 8 % Wealth Management Private Wealth $ 494.3 $ 483.0 $ 457.1 2 % 8 % Global Family Office (GFO) 117.2 109.1 101.5 7 16 Total Wealth Management Trust, Investment and Other Servicing Fees $ 611.5 $ 592.1 $ 558.6 3 % 9 % Total Consolidated Trust, Investment and Other Servicing Fees $ 1,373.0 $ 1,349.5 $ 1,265.5 2 % 8 % Beginning in Q2 2026, Wealth Management Trust, Investment and Other Servicing Fees by region are combined into the Private Wealth line item. Prior periods have been revised. Asset Servicing and Wealth Management Trust, Investment and Other Servicing Fees are impacted by both one-month and one-quarter lagged asset values. Total Asset Servicing Trust, Investment and Other Servicing Fees increased both sequentially and from the prior-year quarter. ▪ Custody and Fund Administration fees increased from the prior-year quarter primarily due to favorable markets. ▪ Investment Management fees increased from the prior-year quarter primarily due to favorable markets. ▪ Securities Lending fees increased from the prior-year quarter primarily due to higher trading volumes and spreads. Total Wealth Management Trust, Investment and Other Servicing Fees increased both sequentially and from the prior-year quarter. ▪ Private Wealth fees increased from the prior-year quarter primarily due to favorable markets. ▪ GFO fees increased both sequentially and from the prior-year quarter primarily due to favorable markets and asset inflows. (1) (1) (*) (1) (1) 2
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS REPORTING SEGMENT RESULTS % Change Q3 2026 vs. ($ In Millions) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Income (Loss) before Income Taxes (FTE*) Asset Servicing $ 405.2 $ 323.3 $ 294.4 25 % 38 % Wealth Management 391.6 333.5 342.4 17 14 Other 7.4 415.5 (11.8) (98) N/M Total Income before Income Taxes (FTE*) $ 804.2 $ 1,072.3 $ 625.0 (25) % 29 % Pre-Tax Margin (FTE*) Asset Servicing 30.3 % 23.7 % 24.7 % 6.6 pts 5.6 pts Wealth Management 41.1 37.4 40.5 3.7 0.6 Total Pre-Tax Margin (FTE*) 34.9 % 39.6 % 30.8 % (4.7)pts 4.1 pts Average Loans Asset Servicing $ 5,321.3 $ 5,800.6 $ 5,399.9 (8) % (1) % Wealth Management 36,409.6 35,767.0 36,100.7 2 1 Total Average Loans $ 41,730.9 $ 41,567.6 $ 41,500.6 — % 1 % Average Deposits Asset Servicing $ 95,765.9 $ 100,980.6 $ 90,195.3 (5) % 6 % Wealth Management 27,524.0 26,715.1 25,370.4 3 8 Other 130.1 150.0 1,134.9 (13) (89) Total Average Deposits $ 123,420.0 $ 127,845.7 $ 116,700.6 (3) % 6 % The current quarter gain on the sale of the guardianship services business ($34.0 million) is included entirely within Wealth Management. The prior quarter charges related to software dispositions ($61.5 million) and severance ($51.0 million) are allocated to the Reporting Segments with $100.6 million allocated to Asset Servicing and $11.9 million allocated to Wealth Management. The current quarter incremental gain related to Northern Trust's participation in the second Visa Exchange Offer ($14.7 million) is retained within Other. The prior quarter gain related to Northern Trust's participation in the second Visa Exchange Offer ($525.4 million), loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio ($73.9 million), and Invested as One equity grant to eligible employees ($33.1 million) are retained within Other. Income (Loss) before Income Taxes and Pre-Tax Margin presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail. Note: Reporting segment results are subject to reclassification when organizational changes are made. The results are also subject to refinements in revenue and expense allocation methodologies, which are typically reflected on a retrospective basis unless it is impractical to do so. OTHER NONINTEREST INCOME % Change Q3 2026 vs. ($ In Millions) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Other Noninterest Income Foreign Exchange Trading Income $ 84.1 $ 97.1 $ 57.2 (13)% 47 % Security Commissions and Trading Income 52.0 55.6 41.8 (6) 25 Other Operating Income 113.9 594.2 70.1 (81) 62 Investment Security Gains (Losses), net — (73.9) — N/M N/M Total Other Noninterest Income $ 250.0 $ 673.0 $ 169.1 (63)% 48% Beginning in Q1 2026, Treasury Management Fees are included within Other Operating Income. Prior periods have been revised. Foreign Exchange Trading Income decreased sequentially primarily due to lower trading volumes driven by client activity and market volatility, particularly in Asia-Pacific markets. Foreign Exchange Trading Income increased compared to the prior-year quarter primarily due to higher trading volumes driven by client activity and market volatility, particularly in Asia-Pacific markets. Security Commissions and Trading Income increased compared to the prior-year quarter primarily driven by higher volumes due to growth in outsourced trading activity. Other Operating Income decreased sequentially primarily due to the higher prior quarter gain related to Northern Trust’s participation in the second Visa Exchange Offer, partially offset by the $34.0 million gain on the guardianship business sale in the current quarter. Other Operating Income increased compared to the prior-year quarter primarily due to the $34.0 million gain on the guardianship business sale and the $14.7 million gain related to Northern Trust’s participation in the second Visa Exchange Offer, both in the current quarter. Investment Security Gains (Losses), net reflects a $73.9 million loss on the sale of available for sale debt securities in the prior quarter related to a repositioning of the securities portfolio. (1) (1) (2) (1) (1) (1) (2) (*) (1) (1) 3
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS NET INTEREST INCOME % Change Q3 2026 vs. ($ In Millions) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Net Interest Income Interest Income (FTE*) $ 2,080.8 $ 2,196.9 $ 2,149.8 (5) % (3) % Interest Expense 1,401.7 1,513.8 1,553.5 (7) (10) Net Interest Income (FTE*) $ 679.1 $ 683.1 $ 596.3 (1) % 14 % Average Earning Assets $ 147,584.5 $ 151,291.2 $ 139,338.9 (2) % 6 % Net Interest Margin (FTE*) 1.83 % 1.81 % 1.70 % 2 bps 13 bps For further detail on average earning assets, refer to the Average Balance Sheet on pg. 12. (*) Interest income, net interest income and net interest margin presented on an FTE basis are non-GAAP financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail. bps - basis points Net Interest Income on an FTE basis increased compared to the prior-year quarter primarily driven by higher deposits, a favorable deposit mix, and lower funding costs. The Net Interest Margin on an FTE basis increased compared to the prior-year quarter primarily driven by higher deposits, a favorable deposit mix, and lower funding costs. PROVISION FOR CREDIT LOSSES As of and for the three-months ended, % Change September 30, 2026 vs. ($ In Millions) September 30,2026 June 30, 2026 September 30,2025 June 30, 2026 September 30,2025 Allowance for Credit Losses Beginning Allowance for Credit Losses $ 190.3 $ 195.2 $ 224.1 (3)% (15)% Provision for Credit Losses 5.4 (5.3) (17.0) N/M N/M Net Recoveries (Charge-offs) (11.0) 0.4 (0.4) N/M N/M Ending Allowance for Credit Losses $ 184.7 $ 190.3 $ 206.7 (3)% (11)% Allowance assigned to: Loans $ 153.5 $ 160.9 $ 164.4 (5)% (7)% Undrawn Loan Commitments and Standby Letters of Credit 24.9 21.9 32.1 13 (23) Debt Securities and Other Financial Assets 6.3 7.5 10.2 (15) (38) Ending Allowance for Credit Losses $ 184.7 $ 190.3 $ 206.7 (3)% (11)% N/M - Not meaningful Q3 2026 The provision in the current quarter primarily resulted from the charge-off of one Commercial and Institutional (C&I) loan. Q2 2026 The negative provision in the prior quarter resulted from a decrease in the collective reserve, partially offset by an increase in individual reserves. The decrease in the collective reserve was primarily driven by a strengthening macroeconomic outlook and improved credit quality for the Commercial Real Estate and C&I portfolios. The increase in the individual reserve was driven by a small number of non- performing loans. Q3 2025 The negative provision in the prior-year quarter resulted from a decrease in collective reserves driven by improved macroeconomic factors primarily impacting the C&I portfolio and improved projections for Residential Real Estate. (1) (1) 4
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS NONINTEREST EXPENSE % Change Q3 2026 vs. ($ In Millions) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Noninterest Expense Compensation and Benefits $ 761.1 $ 868.0 $ 740.5 (12)% 3 % Outside Services 252.1 246.3 248.2 2 2 Equipment and Software 319.9 378.5 294.2 (15) 9 Occupancy 53.1 53.5 55.0 (1) (3) Other Operating Expense 106.3 92.3 85.0 15 25 Total Noninterest Expense $ 1,492.5 $ 1,638.6 $ 1,422.9 (9)% 5 % End of Period Full-Time Equivalent Employees 23,800 23,600 23,600 1 % 1 % Compensation and Benefits expense decreased sequentially primarily due to the prior quarter severance charge of $51.0 million, the prior quarter $33.1 million Invested as One grant to eligible employees, and a reduction in performance-based incentives in the current quarter. Equipment and Software expense decreased sequentially primarily due to software dispositions of $61.5 million in the prior quarter. Equipment and Software expense increased compared to the prior-year quarter primarily due to higher technology expense and higher depreciation and amortization. Other Operating Expense increased sequentially and compared to the prior-year primarily due to an increase in account servicing costs. PROVISION FOR INCOME TAXES % Change Q3 2026 vs. ($ In Millions) Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Net Income Income before Income Taxes $ 796.5 $ 1,064.7 $ 619.5 (25)% 29% Provision for Income Taxes 153.6 272.5 161.9 (44) (5) Net Income $ 642.9 $ 792.2 $ 457.6 (19)% 40% Effective Tax Rate 19.3 % 25.6 % 26.1 % (630)bps (680)bps bps - basis points The effective tax rate decreased sequentially and from the prior-year quarter primarily due to lower net tax impact from international operations, including a reduction in the current year valuation allowance attributable to U.S. foreign tax credits. CAPITAL ACTIONS The Corporation returned $514.2 million to common shareholders in the current quarter through dividends and the repurchase of shares. During the current quarter, the Corporation declared cash dividends totaling $161.9 million to common stockholders and increased its quarterly cash dividend to $0.88 per share on common stock from the previous $0.80 per share. The Corporation repurchased 1,901,679 shares of common stock, including 12,872 withheld to satisfy tax withholding obligations related to share-based compensation, at a total cost of $352.3 million ($185.27 average price per share). The Corporation also declared cash dividends totaling $16.2 million to preferred stockholders during the current quarter. 5
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS REGULATORY CAPITAL The capital ratios of Northern Trust Corporation and its principal subsidiary, The Northern Trust Company, remained strong at September 30, 2026, exceeding the minimum requirements for classification as “well-capitalized” under applicable U.S. regulatory requirements. ($ In Millions) Standardized Approach Advanced Approach Northern Trust Corporation September 30, 2026* June 30, 2026 September 30, 2025 September 30, 2026* June 30, 2026 September 30, 2025 Well-Capitalized Ratios Minimum Capital Ratios Regulatory Capital Common Equity Tier 1 Capital $ 11,555.6 $ 11,605.6 $ 11,199.3 $ 11,555.6 $ 11,605.6 $ 11,199.3 Tier 1 Capital 12,368.5 12,418.7 12,028.1 12,368.5 12,418.7 12,028.1 Total Capital 14,650.7 14,706.5 13,581.9 14,466.1 14,516.2 13,375.2 Assets Risk-Weighted Assets $ 92,872.1 $ 95,157.3 $ 90,033.7 $ 80,490.5 $ 81,119.6 $ 74,329.4 Average Adjusted Total Assets 158,196.9 162,601.3 150,208.9 158,196.9 162,601.3 150,208.9 Supplementary LeverageExposure N/A N/A N/A 144,826.4 144,498.8 135,904.7 Capital Ratios Common Equity Tier 1 Capital 12.4 % 12.2 % 12.4 % 14.4 % 14.3 % 15.1 % N/A 4.5 % Tier 1 Capital 13.3 13.1 13.4 15.4 15.3 16.2 6.0 6.0 Total Capital 15.8 15.5 15.1 18.0 17.9 18.0 10.0 8.0 Tier 1 Leverage 7.8 7.6 8.0 7.8 7.6 8.0 N/A 4.0 Supplementary Leverage N/A N/A N/A 8.5 8.6 8.9 N/A 3.0 ($ In Millions) Standardized Approach Advanced Approach The Northern TrustCompany September 30, 2026* June 30, 2026 September 30, 2025 September 30, 2026* June 30, 2026 September 30, 2025 Well-Capitalized Ratios Minimum Capital Ratios Regulatory Capital Common Equity Tier 1 Capital $ 10,688.7 $ 11,084.4 $ 10,437.7 $ 10,688.7 $ 11,084.4 $ 10,437.7 Tier 1 Capital 10,688.7 11,084.4 10,437.7 10,688.7 11,084.4 10,437.7 Total Capital 12,623.3 13,024.6 11,644.4 12,438.7 12,834.4 11,437.7 Assets Risk-Weighted Assets $ 91,203.5 $ 93,697.1 $ 88,698.8 $ 77,834.5 $ 78,677.0 $ 72,031.5 Average Adjusted Total Assets 157,586.5 162,049.4 149,705.5 157,586.5 162,049.4 149,705.5 Supplementary LeverageExposure N/A N/A N/A 143,848.2 143,562.4 135,400.9 Capital Ratios Common Equity Tier 1 Capital 11.7 % 11.8 % 11.8 % 13.7 % 14.1 % 14.5 % 6.5 % 4.5 % Tier 1 Capital 11.7 11.8 11.8 13.7 14.1 14.5 8.0 6.0 Total Capital 13.8 13.9 13.1 16.0 16.3 15.9 10.0 8.0 Tier 1 Leverage 6.8 6.8 7.0 6.8 6.8 7.0 5.0 4.0 Supplementary Leverage N/A N/A N/A 7.4 7.7 7.7 3.0 3.0 (*) 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. 6
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS RECONCILIATION TO FULLY TAXABLE EQUIVALENT The following table presents a reconciliation of interest income, net interest income, net interest margin, total revenue, income before taxes, and pre-tax margin prepared in accordance with GAAP to such measures on an FTE non-GAAP basis. Management believes this presentation facilitates the analysis of asset yields and provides a clearer indication of these financial measures for comparative purposes. 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. QUARTERS 2026 2025 ($ in Millions) THIRD SECOND FIRST FOURTH THIRD Net Interest Income Interest Income - GAAP $ 2,073.1 $ 2,189.3 $ 2,234.0 $ 2,126.6 $ 2,144.3 Add: FTE Adjustment 7.7 7.6 7.6 12.7 5.5 Interest Income (FTE) - Non-GAAP $ 2,080.8 $ 2,196.9 $ 2,241.6 $ 2,139.3 $ 2,149.8 Net Interest Income - GAAP $ 671.4 $ 675.5 $ 654.0 $ 641.6 $ 590.8 Add: FTE Adjustment 7.7 7.6 7.6 12.7 5.5 Net Interest Income (FTE) - Non-GAAP $ 679.1 $ 683.1 $ 661.6 $ 654.3 $ 596.3 Net Interest Margin - GAAP 1.80 % 1.79 % 1.73 % 1.78 % 1.68 % Net Interest Margin (FTE) - Non-GAAP 1.83 % 1.81 % 1.75 % 1.81 % 1.70 % Total Revenue Total Revenue - GAAP $ 2,294.4 $ 2,698.0 $ 2,205.6 $ 2,123.1 $ 2,025.4 Add: FTE Adjustment 7.7 7.6 7.6 12.7 5.5 Total Revenue (FTE) - Non-GAAP $ 2,302.1 $ 2,705.6 $ 2,213.2 $ 2,135.8 $ 2,030.9 Income before Income Taxes Income before Income Taxes - GAAP $ 796.5 $ 1,064.7 $ 700.6 $ 633.8 $ 619.5 Add: FTE Adjustment 7.7 7.6 7.6 12.7 5.5 Income before Income Taxes (FTE) - Non-GAAP $ 804.2 $ 1,072.3 $ 708.2 $ 646.5 $ 625.0 Pre-Tax Margin - GAAP 34.7 % 39.5 % 31.8 % 29.9 % 30.6 % Pre-Tax Margin (FTE) - Non-GAAP 34.9 % 39.6 % 32.0 % 30.3 % 30.8 % Net Interest Margin is calculated by dividing annualized net interest income by average interest-earning assets. Pre-Tax Margin is calculated by dividing income before income taxes by total revenue. (1) (1) (2) (2) (1) (2) 7
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NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS FORWARD LOOKING STATEMENTS This release 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. WEBCAST OF THIRD QUARTER EARNINGS CONFERENCE CALL Northern Trust’s third quarter earnings conference call will be webcast on October 21, 2026. The live call will be conducted at 8:00 a.m. CT and is accessible on Northern Trust’s website at: https://www.northerntrust.com/about-us/investor-relations A recording of the live call will be available on Northern Trust’s website following the live event, for approximately four weeks. Participants will need Windows Media or Adobe Flash software. This earnings release can also be accessed at Northern Trust’s website. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2026, Northern Trust had assets under custody/administration of US$19.9 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions. 8
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NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) STATEMENT OF INCOME DATA % Change ($ In Millions Except Per Share Data) Q3 2026 vs. Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Noninterest Income Trust, Investment and Other Servicing Fees$ 1,373.0 $ 1,349.5 $ 1,265.5 2 % 8 % Foreign Exchange Trading Income 84.1 97.1 57.2 (13) 47 Security Commissions and Trading Income 52.0 55.6 41.8 (6) 25 Other Operating Income 113.9 594.2 70.1 (81) 62 Investment Security Gains (Losses), net — (73.9) — N/M N/M Total Noninterest Income 1,623.0 2,022.5 1,434.6 (20) 13 Net Interest Income Interest Income 2,073.1 2,189.3 2,144.3 (5) (3) Interest Expense 1,401.7 1,513.8 1,553.5 (7) (10) Net Interest Income 671.4 675.5 590.8 (1) 14 Total Revenue 2,294.4 2,698.0 2,025.4 (15) 13 Provision for Credit Losses 5.4 (5.3) (17.0) N/M N/M Noninterest Expense Compensation and Benefits 761.1 868.0 740.5 (12) 3 Outside Services 252.1 246.3 248.2 2 2 Equipment and Software 319.9 378.5 294.2 (15) 9 Occupancy 53.1 53.5 55.0 (1) (3) Other Operating Expense 106.3 92.3 85.0 15 25 Total Noninterest Expense 1,492.5 1,638.6 1,422.9 (9) 5 Income before Income Taxes 796.5 1,064.7 619.5 (25) 29 Provision for Income Taxes 153.6 272.5 161.9 (44) (5) NET INCOME $ 642.9 $ 792.2 $ 457.6 (19)% 40 % Preferred Stock Dividends 16.2 4.7 16.2 N/M — NET INCOME APPLICABLE TO COMMON STOCK$ 626.7 $ 787.5 $ 441.4 (20)% 42 % Earnings Allocated to Participating Securities 4.8 5.3 4.2 (10) 13 Earnings Allocated to Common Shares $ 621.9 $ 782.2 $ 437.2 (20)% 42 % Per Common Share Net Income Basic $ 3.42 $ 4.25 $ 2.30 (20)% 49 % Diluted 3.40 4.23 2.29 (20) 48 Average Common Equity $ 12,340.4 $ 12,209.7 $ 11,822.1 1 % 4 % Return on Average Common Equity 20.1 % 25.9 % 14.8 % Cash Dividends Declared per Common Share$ 0.88 $ 0.80 $ 0.80 10 % 10 % Average Common Shares Outstanding (000s) Basic 182,038 183,994 190,054 (1)% (4)% Diluted 183,174 184,890 191,001 (1) (4) Common Shares Outstanding (EOP) (000s) 181,118 182,956 189,117 (1) (4) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. Beginning in Q1 2026, Treasury Management Fees are included within Other Operating Income. Prior periods have been restated. N/M - Not meaningful EOP - End of period (1) (2) (1) (2) 9
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NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) STATEMENT OF INCOME DATA ($ In Millions Except Per Share Data) NINE MONTHS 2026 2025 % Change Noninterest Income Trust, Investment and Other Servicing Fees $ 4,063.9 $ 3,710.4 10 % Foreign Exchange Trading Income 268.9 166.5 61 Security Commissions and Trading Income 159.8 120.5 33 Other Operating Income 778.5 196.5 N/M Investment Security Gains (Losses), net (73.9) — N/M Total Noninterest Income 5,197.2 4,193.9 24 Net Interest Income Interest Income 6,496.5 6,498.0 — Interest Expense 4,495.6 4,728.6 (5) Net Interest Income 2,000.9 1,769.4 13 Total Revenue 7,198.1 5,963.3 21 Provision for Credit Losses (3.0) 0.5 N/M Noninterest Expense Compensation and Benefits 2,451.3 2,227.1 10 Outside Services 735.1 740.4 (1) Equipment and Software 1,006.5 868.8 16 Occupancy 158.0 160.9 (2) Other Operating Expense 288.4 259.9 11 Total Noninterest Expense 4,639.3 4,257.1 9 Income before Income Taxes 2,561.8 1,705.7 50 Provision for Income Taxes 601.2 434.8 38 NET INCOME $ 1,960.6 $ 1,270.9 54 % Preferred Stock Dividends 37.1 37.1 — NET INCOME APPLICABLE TO COMMON STOCK $ 1,923.5 $ 1,233.8 56 % Earnings Allocated to Participating Securities 14.6 11.6 26 Earnings Allocated to Common Shares $ 1,908.9 $ 1,222.2 56 % Per Common Share Net Income Basic $ 10.38 $ 6.34 64 % Diluted 10.33 6.32 63 Average Common Equity $ 12,143.8 $ 11,756.5 3 % Return on Average Common Equity 21.2 % 14.0 % Cash Dividends Declared per Common Share $ 2.48 $ 2.30 8 % Average Common Shares Outstanding (000s) Basic 183,831 192,647 (5)% Diluted 184,855 193,481 (4) Common Shares Outstanding (EOP) (000s) 181,118 189,117 (4) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. N/M - Not meaningful EOP - End of period (1) (1) 10
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NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) BALANCE SHEET ($ In Millions) % Change September 30, 2026 vs. September 30,2026 June 30, 2026 September 30,2025 June 30, 2026 September 30,2025 Assets Federal Reserve and Other Central Bank Deposits$ 37,779.1 $ 50,556.4 $ 49,328.9 (25)% (23)% Interest-Bearing Due from and Deposits with Banks 6,294.9 6,160.0 6,404.5 2 (2) Federal Funds Sold and Securities Purchased underAgreements to Resell 471.2 426.5 1,856.3 10 (75) Debt Securities Available for Sale 42,852.3 38,123.1 32,889.2 12 30 Held to Maturity 21,646.8 23,492.1 22,974.9 (8) (6) Total Debt Securities 64,499.1 61,615.2 55,864.1 5 15 Loans 41,716.7 43,822.0 42,949.4 (5) (3) Other Interest-Earning Assets 3,643.7 3,499.3 2,676.2 4 36 Total Earning Assets 154,404.7 166,079.4 159,079.4 (7) (3) Allowance for Credit Losses (159.8) (168.4) (174.6) (5) (8) Cash and Due from Banks and Other Central Bank Deposits1,625.0 1,201.7 976.8 35 66 Buildings and Equipment 444.7 447.6 457.1 (1) (3) Goodwill 707.8 709.6 712.9 — (1) Other Assets 10,247.9 11,027.3 9,211.7 (7) 11 Total Assets $ 167,270.3 $ 179,297.2 $ 170,263.3 (7)% (2)% Liabilities and Stockholders’ Equity Interest-Bearing Deposits Savings, Money Market and Other $ 30,585.0 $ 34,419.1 $ 29,040.1 (11)% 5 % Savings Certificates and Other Time 4,765.4 4,686.9 7,358.7 2 (35) Non-U.S. Offices - Interest-Bearing 72,700.9 78,274.0 73,509.9 (7) (1) Total Interest-Bearing Deposits 108,051.3 117,380.0 109,908.7 (8) (2) Federal Funds Purchased 1,566.2 1,568.9 1,751.9 — (11) Securities Sold under Agreements to Repurchase 397.4 175.6 371.5 126 7 Other Borrowings 8,685.6 8,627.2 6,580.0 1 32 Senior Notes 3,288.4 3,331.2 2,847.2 (1) 15 Long-Term Debt 2,026.4 2,073.3 4,094.3 (2) (51) Total Interest-Bearing Liabilities 124,015.3 133,156.2 125,553.6 (7) (1) Demand and Other Noninterest-Bearing Deposits 24,125.7 28,200.0 25,892.4 (14) (7) Other Liabilities 5,766.4 4,539.4 5,861.3 27 (2) Total Liabilities 153,907.4 165,895.6 157,307.3 (7) (2) Common Equity Common Equity, excluding Accumulated OtherComprehensive Income 13,196.7 13,068.4 12,706.2 1 4 Accumulated Other Comprehensive Income (Loss)(718.7) (551.7) (635.1) 30 13 Total Common Equity 12,478.0 12,516.7 12,071.1 — 3 Preferred Equity 884.9 884.9 884.9 — — Total Equity 13,362.9 13,401.6 12,956.0 — 3 Total Liabilities and Stockholders’ Equity $ 167,270.3 $ 179,297.2 $ 170,263.3 (7)% (2)% Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. 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. 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. Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago. (1) (2) (3) (4) (5) (1) (2) (3) (4) (5) 11
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NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) AVERAGE BALANCE SHEET ($ In Millions) % Change Q3 2026 vs. Q3 2026 Q2 2026 Q3 2025 Q2 2026 Q3 2025 Assets Federal Reserve and Other Central Bank Deposits$ 33,601.3 $ 38,322.9 $ 33,754.2 (12)% — % Interest-Bearing Due from and Deposits with Banks6,350.5 6,304.2 5,237.7 1 21 Federal Funds Sold and Securities Purchased underAgreements to Resell 523.4 521.9 1,300.4 — (60) Debt Securities Available for Sale 39,994.9 37,775.8 33,022.7 6 21 Held to Maturity 22,629.8 23,604.2 22,129.7 (4) 2 Total Debt Securities 62,624.7 61,380.0 55,152.4 2 14 Loans 41,730.9 41,567.6 41,500.6 — 1 Other Interest-Earning Assets 2,753.7 3,194.6 2,393.6 (14) 15 Total Earning Assets 147,584.5 151,291.2 139,338.9 (2) 6 Allowance for Credit Losses (168.5) (169.9) (188.0) (1) (10) Cash and Due from Banks and Other Central BankDeposits 1,133.9 1,313.9 1,159.3 (14) (2) Buildings and Equipment 451.0 453.1 468.4 — (4) Goodwill 711.0 712.5 712.6 — — Other Assets 9,524.0 9,975.0 9,550.3 (5) — Total Assets $ 159,235.9 $ 163,575.8 $ 151,041.5 (3)% 5 % Liabilities and Stockholders’ Equity Interest-Bearing Deposits Savings, Money Market and Other $ 32,027.3 $ 32,356.8 $ 28,348.7 (1)% 13 % Savings Certificates and Other Time 4,707.8 5,059.1 6,700.1 (7) (30) Non-U.S. Offices - Interest-Bearing 68,239.2 70,929.3 65,354.5 (4) 4 Total Interest-Bearing Deposits 104,974.3 108,345.2 100,403.3 (3) 5 Federal Funds Purchased 2,148.4 2,338.3 2,467.7 (8) (13) Securities Sold under Agreements to Repurchase 616.4 677.2 500.4 (9) 23 Other Borrowings 8,789.9 8,255.7 6,938.4 6 27 Senior Notes 3,319.1 3,335.9 2,839.6 (1) 17 Long-Term Debt 2,056.0 2,856.9 4,092.0 (28) (50) Total Interest-Bearing Liabilities 121,904.1 125,809.2 117,241.4 (3) 4 Demand and Other Noninterest-Bearing Deposits18,445.7 19,500.5 16,297.3 (5) 13 Other Liabilities 5,660.8 5,171.5 4,795.8 9 18 Total Liabilities 146,010.6 150,481.2 138,334.5 (3) 6 Common Equity Common Equity, excluding Accumulated OtherComprehensive Income 12,917.8 12,778.5 12,496.7 1 3 Accumulated Other Comprehensive Income (Loss)(577.4) (568.8) (674.6) 2 (14) Total Common Equity 12,340.4 12,209.7 11,822.1 1 4 Preferred Equity 884.9 884.9 884.9 — — Total Equity 13,225.3 13,094.6 12,707.0 1 4 Total Liabilities and Stockholders’ Equity $ 159,235.9 $ 163,575.8 $ 151,041.5 (3)% 5 % Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above. 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. 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. Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago. (1) (2) (3) (4) (5) (1) (2) (3) (4) (5) 12
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NORTHERN TRUST CORPORATION (Supplemental Consolidated Financial Information) QUARTERLY TREND DATA QUARTERS ($ In Millions Except Per Share Data) 2026 2025 THIRD SECOND FIRST FOURTH THIRD Net Income Summary Trust, Investment and Other Servicing Fees $ 1,373.0 $ 1,349.5 $ 1,341.4 $ 1,307.4 $ 1,265.5 Other Noninterest Income 250.0 673.0 210.2 174.1 169.1 Net Interest Income 671.4 675.5 654.0 641.6 590.8 Total Revenue 2,294.4 2,698.0 2,205.6 2,123.1 2,025.4 Provision for Credit Losses 5.4 (5.3) (3.0) (8.0) (17.0) Noninterest Expense 1,492.5 1,638.6 1,508.0 1,497.3 1,422.9 Income before Income Taxes 796.5 1,064.7 700.6 633.8 619.5 Provision for Income Taxes 153.6 272.5 175.1 167.8 161.9 Net Income $ 642.9 $ 792.2 $ 525.5 $ 466.0 $ 457.6 Per Common Share Net Income - Basic $ 3.42 $ 4.25 $ 2.72 $ 2.44 $ 2.30 - Diluted 3.40 4.23 2.71 2.42 2.29 Cash Dividends Declared per Common Share 0.88 0.80 0.80 0.80 0.80 Book Value (EOP) 68.89 68.41 65.40 64.79 63.83 Market Value (EOP) 169.36 173.84 139.57 136.59 134.60 Financial Ratios Return on Average Common Equity 20.1 % 25.9 % 17.4 % 15.4 % 14.8 % Net Interest Margin (GAAP) 1.80 1.79 1.73 1.78 1.68 Net Interest Margin (FTE*) 1.83 1.81 1.75 1.81 1.70 Assets Under Custody / Administration ($ in Billions) - End OfPeriod Asset Servicing $ 18,533.7 $ 18,635.2 $ 17,288.6 $ 17,418.4 $ 16,990.4 Wealth Management 1,362.9 1,365.0 1,265.3 1,297.7 1,257.2 Total Assets Under Custody / Administration $ 19,896.6 $ 20,000.2 $ 18,553.9 $ 18,716.1 $ 18,247.6 Assets Under Custody ($ In Billions) - End Of Period Asset Servicing $ 14,452.9 $ 14,587.7 $ 13,521.1 $ 13,604.8 $ 13,195.0 Wealth Management 1,348.3 1,351.1 1,254.2 1,284.3 1,244.1 Total Assets Under Custody $ 15,801.2 $ 15,938.8 $ 14,775.3 $ 14,889.1 $ 14,439.1 Assets Under Management ($ In Billions) - End Of Period Asset Servicing $ 1,427.1 $ 1,436.0 $ 1,287.3 $ 1,296.0 $ 1,280.1 Wealth Management 535.9 533.9 497.6 507.2 492.6 Total Assets Under Management $ 1,963.0 $ 1,969.9 $ 1,784.9 $ 1,803.2 $ 1,772.7 Asset Quality ($ In Millions) - End Of Period Nonaccrual Loans $ 55.5 $ 71.3 $ 55.0 $ 76.7 $ 78.8 Other Real Estate Owned (OREO) 1.6 — — — — Total Nonaccrual Assets $ 57.1 $ 71.3 $ 55.0 $ 76.7 $ 78.8 Nonaccrual Assets / Loans and OREO 0.14 % 0.16 % 0.13 % 0.18 % 0.18 % Gross Charge-offs $ (11.6) $ (0.2) $ (0.4) $ (1.4) $ (2.1) Gross Recoveries 0.6 0.6 0.3 1.0 1.7 Net Recoveries (Charge-offs) $ (11.0) $ 0.4 $ (0.1) $ (0.4) $ (0.4) Annualized Net Recoveries (Charge-offs) to Avg Loans (0.11)% — % — % — % — % Allowance for Credit Losses Assigned to: Loans $ 153.5 $ 160.9 $ 161.1 $ 164.3 $ 164.4 Undrawn Loan Commitments and Standby Letters of Credit 24.9 21.9 25.5 23.3 32.1 Debt Securities and Other Financial Assets 6.3 7.5 8.6 10.7 10.2 Loans Allowance / Nonaccrual Loans 2.8 x 2.3 x 2.9 x 2.1 x 2.1 x (*) Net interest margin presented on an FTE basis is a non-GAAP financial measure. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail. 13