northerntrust.com © 2011 Northern Trust Corporation ServiceExpertiseIntegrityServiceExpertiseIntegrity P R I N C I P L E S T H A T E N D U R E An Overview of Northern Trust Prepared for: Lawrence University January 31, 2013

2 Northern Trust Corporation: A Highly Focused Business Model As of June 30, 2012 Founded in 1889, Northern Trust Corporation is a global leader in asset servicing, asset management, wealth management and banking for personal and institutional clients. Integrated global operating platform Serving personal and institutional clients $1.6 Billion in technology spending Leading advisor to affluent market AUM$176 Billion AUC$411 Billion Leading global custodian AUC$4.2 Trillion AUM$528 Billion Leading asset manager for personal & institutional clients AUM$704 Billion Pension funds Fund managers Insurance Foundations Endowments Sovereign wealth funds Individuals Families Family offices Family foundations & endowments Privately held businesses Personal Financial Services Corporate & Institutional Services Northern Trust Global Investments Operations & Technology

3  Credit Cards  Retail Banking  Consumer Finance  Venture Capital  Stock Transfer  Investment Banking  Sub-Prime Mortgage Underwriting  Asset Backed Commercial Paper Conduits  Discount Brokerage  American Depositary Receipts While we do adjust our actions to align with prevailing conditions, Northern Trust has resisted the temptation to change our business or risk profile to capitalize on temporarily shifting cycles. Businesses Northern Trust is NOT in: Client Centric, Highly Focused Business Model

4 Global Coverage, Local Expertise New York Toronto Chicago Dublin London Guernsey Jersey Amsterdam Luxembourg Tokyo Beijing Hong Kong Bangalore Singapore Melbourne Abu Dhabi Limerick 18 global locations 14,333 staff worldwide* Services in 102 markets Clients in approximately 40 countries As at 6/30/2012 (updated quarterly) Source: Northern Trust *Total employees, 14,202 of which are permanent Stockholm

5 Best Private Bank in North America… For Family Office Services For Trust Services For Inheritance and Succession Planning – Euromoney Magazine (February 2010) Best Private Bank in North America – Financial Times Group (November 2010 and November 2009) Ranked among the Top 10 Wealth Managers – Barron’s (September 2009) Serving More than 20% of Forbes 400 Most Affluent Americans – Forbes (September 2009) PRIVATE CLIENT WEALTH ADVISORY WEALTH MANAGEMENT FOUNDATIONS AND INSTITUTIONS Personal Financial Services Integrated Approach to Serving the Affluent Market

6 Northern Trust Global Investments A Continuum of Global Investment Products Products EquitiesFixed IncomeAlternatives Services Securities Lending Transition Management Commission Recapture Securities Brokerage Cash Overlay Manager of Managers Global Index Management Active Large-CapSmall-Cap Non-U.S. GlobalEmerging MarketsCustomMid-Cap Socially Responsible Core / PlusGovernmentsCashEnhanced CashHigh Yield Non-U.S. Private EquityHedge Funds     Frontier Markets  Muni Global Real Estate      Client-specific solutions delivered through an extensive range of investment products and services   Custom    Vehicles Mutual Fund Mutual Fund Commingled Fund Commingled Fund Separate Account Separate Account  Exchange Traded Fund Exchange Traded Fund

7 Client On- Boarding Account Set-Up & Maintenance Asset Movement Manager Termination Restructure Transitions In Transition Management Reporting Analysis Industry Standards and Client-Specific Accounting Daily Valuation Information Verification Accounting Audit & Reconciliations Document Distribution Fees Sign-Off Report Distribution Operations Alternative Assets Asset Maintenance Cash Collateral Corporate Actions Deposits Derivatives Foreign Exchange Income Loans Pricing Securities Lending Tax Reclaims Technology Solutions Consulting Design Development Support Data Centers Infrastructure Management Quality Assurance & Control _____________________________________________________________________________________ Process Analysis & Optimization ____________________________________________________________________________________ Reconciliation _____________________________________________________________________________________ Risk Mitigation _____________________________________________________________________________________ Service Support Operations & Technology O&T Functions – Services for Clients and Partners

8 Fund accounting Fund administration Transfer agency Corporate secretarial Trustee Investment operations outsourcing Safekeeping Settlement Derivatives processing Income collection Corporate actions Tax reclamation Active Index Investment outsourcing Liability driven investing Manager of managers Hedge funds Private equity Transition management Investment accounting Reporting and valuation Performance analytics Risk monitoring and reporting Trade execution analysis Data warehouse Cross-border pooling Trade execution Cash management Securities lending Foreign exchange Commission management Asset Administration Asset Processing Asset Reporting Asset Enhancement Asset Management Corporate & Institutional Services A Worldwide Leader in the Institutional Marketplace

9 An Enduring Philosophy The philosophy defined in 1889, continues today through…  The Northern Trust Charitable Trust  Community Lending Efforts (Community Reinvestment Act)  The Northern Trust Matching Gift and Volunteer Grant Programs  The Northern Trust Global Volunteerism Program  In-Kind Contributions  The National and Global Strategic Philanthropy Programs  Disaster Relief Grantmaking  The United Way of Metropolitan Chicago Campaign  The Centennial Fund  Arts Work Fund

10 Recognition “Most Generous Cash Givers” Business Week Magazine “World’s Most Socially Responsible Companies” Global Finance Magazine “100 Best Corporate Citizens” CRO Magazine “Best Corporate Citizen” United Way, Chicago and Cook County “100 Best Companies for Working Mothers” Working Mothers Magazine The following publications and organizations have recognized Northern Trust as a Leader in Corporate Philanthropy and a Champion of Diversity: “America’s Most Admired Companies” Fortune Magazine Equip for Equality Corporate Award Catalyst Award Given to companies that have made significant progress to the advancement of women Corporate Diversity Award Chicago Council on Urban Affairs “100 Best Places to Work in IT” Computerworld Magazine          

11  Summer Intern Program  Global Opportunities in Leadership Development (GOLD) Program – (Filled for 2013)  Global Fund Services  Fund/Investment Accounting  Investment Operations Outsourcing  Hedge Fund Services  Financial Control  Middle Office  Operations and Technology  Pension Fund Accounting  IT – JAVA, Infrastructure, and Technical Support Employment Opportunities

12 Northern Trust Corporation Strong oral and written communication skills Analytical and problem-solving skills Adaptability and ability to learn quickly in high-pressure environments Leadership, teamwork, and human relations/client servicing ability Excellent time management and organizational skills Demonstrated motivation and initiative to succeed Demonstrated interest and knowledge of Northern Trust  Lines of business  Core values and culture Key Attributes