CHICAGO, June 30, 2023 – Northern Trust Corporation today commented on the results of the Federal Reserve’s 2023 Comprehensive Capital Analysis and Review (CCAR).

Based on the 2023 CCAR results, Northern Trust will be subject to a preliminary stress capital buffer (SCB) of 2.5 percent, which is the minimum SCB requirement under the applicable regulation and unchanged from the current level. The SCB will be effective from October 1, 2023, to September 30, 2024, and will equate to a minimum common equity tier 1 (CET1) ratio of 7 percent.

“The results of the Federal Reserve’s annual CCAR continue to illustrate the strength of our capital position and business model,” Chairman and Chief Executive Officer Michael O’Grady said. “We look forward to continuing our planned capital actions.”

Northern Trust intends to maintain its quarterly cash dividend on common stock of $0.75 per share, subject to approval by its board of directors, and will continue to take an opportunistic, considerate approach in its evaluation of potential common stock repurchases given its strong capital position, prevailing market conditions, and other factors.

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 25 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2023, Northern Trust had assets under custody/administration of US$14.2 trillion, and assets under management of US$1.3 trillion. For more than 130 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 Twitter @NorthernTrust or Northern Trust Corporation 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.