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ASSET SERVICING

SUBACCOUNTING SOLUTIONS

IN TODAY’S FINANCIAL MARKET, SUBACCOUNTING HAS BECOME THE PREFERRED METHOD OF CLEARING TRADES IN FUND ACCOUNTS AND FINANCIAL FIRMS ARE LOOKING FOR FLEXIBLE, COST EFFECTIVE SOLUTIONS FOR OMNIBUS RECORDKEEPING.

BNY Mellon’s subaccounting services

provide exactly this clearing and

recordkeeping solution for any financial

firm looking to aggregate customer trades

and accounts in mutual funds into single or

multiple omnibus accounts. Financial

firms using our solution can apply it, in

whole or in part, across management

companies for the proprietary and/or

nonproprietary funds that the firms

distribute.

Supported by our flexible and cost

effective technology, our subaccounting

services, along with our asset allocation

and wrap program services, offer a

complete solution for the subaccount

recordkeeping and trade

clearing/settlement to service fund

supermarkets, wrap accounts, health

savings accounts, 529 Plans, omnibus

processing, offshore funds, and direct-at-

fund. Our open technology enables the

client to access multiple fund families via a

single master account of client records.

TURNING OUR INSIGHTS INTO

ACTIONS

As the first and largest provider of

subaccounting solutions to the industry, we

constantly seek out new opportunities to

enhance our offerings to help you succeed.

We are committed to addressing the unique

challenges broker-dealers face in today’s

marketplace and to supporting industry

growth. This commitment has led us to

expand our subaccounting offering beyond

traditional mutual funds to 529 Plans.

Expanding our capabilities to a greater

product set helps you realize even more

processing efficiencies and enhanced

distribution opportunities.

INSIGHTS FOR A CHANGING WORLD

We help you understand the market and

translate these insights into solutions that

can sharpen your competitive posture.

– Broker-dealers and the funds they

distribute need ways to increase

transparency and share information in

order to achieve growth

– The increased use of financial

intermediaries by mutual fund owning

households creates a need for a more

holistic view of assets

– Intermediaries’ increased usage of

advice-based products creates the

need for more complex asset allocation

and rebalancing logic

2 // SUBACCOUNTING

Contact us and learn more: assetservicingmarketing@bnymellon.com

bnymellon.com

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term

to reference the Corporation as a whole or its various subsidiaries generally. Products and services may be provided

under various brand names and in various countries by subsidiaries, affiliates, and joint ventures of The Bank of New York

Mellon Corporation where authorized and regulated as required within each jurisdiction. Not all products and services are

offered at all locations.

The material contained in this brochure, which may be considered advertising, is for general information and reference

purposes only and is not intended to provide legal, tax, accounting, investment, financial or other professional advice on

any matter, and is not to be used as such.

This brochure, and the statements contained herein, are not an offer or solicitation to buy or sell any products (including

financial products) or services or to participate in any particular strategy mentioned and should not be construed as such.

©2014 The Bank of New York Mellon Corporation. Services are provided by The Bank of New York Mellon and its various

affiliates. All rights reserved.

05/2014

BNY Mellon’s subaccounting solution,

introduced in 1987 as SuRPAS™, sets the

industry standard for what is possible

through subaccounting functionality.

Fully integrated into the Global Enterprise

PlatformSM

, BNY Mellon’s flexible and

modular open-technology architecture, our

subaccounting solution offers a

comprehensive array of functionality.

BENEFIT FROM OUR BROKER-

DEALER EXPERIENCE

Our subaccounting capabilities provide an

economical and efficient solution to

brokerage firms looking to perform mutual

fund processing to easily access

information and manage multiple fund

family products, as well as to clearing

firms, banks and funds utilizing the solution

for no-load supermarkets.

The solution interfaces with all major back-

office brokerage systems, giving us

significant brokerage insight and

experience servicing broker-dealers. This

allows us to support broker-dealers with a

unique combination of subaccounting

recordkeeping and brokerage back-office

market capabilities, including:

– Ability to share data with the

brokerage platform in industry-

standard formats

– Capability for clients to self-clear

trades, including trade placement,

trade aggregation, trade settlement,

and reconciliation with any fund

WRAP AND ASSET ALLOCATION

Our asset allocation capability provides

brokerage firms, fund groups, and banks

with a way to offer multi-fund-family

products while offering a single, integrated

solution for their wrap programs. Significant

cost savings and efficiencies can result from

using our self-clearing omnibus technology

and trade aggregation capabilities:

– Perform trade entry, trade clearing, fee

processing, personal AIMR

performance, graphical statements,

client accounting and tax reporting

– Allows clients and representatives

online access to wrap portfolio

information, gains/losses, AIMR

performance and trade history

– Ability to process up to 60 million

different model portfolios and

automatically perform rebalancing and

trade allocation/portfolio management

BENEFIT FROM OUR INDUSTRY INSIGHT AND EXPERIENCE

– Enhanced transparency – we lead the

industry in the acceptance of Client

Datashare Activity and Position files

(DSP)

– Demonstrated commitment to your

success – evidenced by our leadership

role in ICI BDAC omnibus

subcommittees and NICSA distribution

subcommittee Enhanced distribution

opportunities achieved through our

ability to provide subaccounting service

beyond traditional mutual funds to 529

Plans.

– Risk management and Accelerated

conversations – achieved through

operational efficiencies created by our

scalable SuRPAS system

– Seamless integration of back office

brokerage systems – enables exchange

of data in industry standard formats and

options for proprietary interfaces or real-

time interfaces

– Flexible and open technology

architecture – offers easy access to

information and simplified management

of multiple fund family products

AT A GLANCE

4Q14 OUR BUSINESS THE INVESTMENTS COMPANY FOR THE WORLDBNY Mellon is an investments company. We provide investment management and investment services that help individuals and institutions to invest, conduct business and transact in markets all over the world.

INVESTMENT MANAGEMENT

$1.7 trillion Assets under management1

INVESTMENT SERVICES

$28.5 trillion Assets under custody and/or administration

GLOBAL REACH

Workforce: 50,300 Markets served: 100+ Countries: 35

OUR FUNDAMENTALS STRENGTH AND STABILITYOur ability to manage and service our clients’ investments is a reflection of how we manage our own business. Our balance sheet shows consistent strength, with assets, revenues and a capital position that point to success.

OUR CREDIT RATINGS* STRONG ACROSS AGENCIES AND CATEGORIESSupporting all that we do in investment management and investment services are credit ratings that are among the highest in the financial services industry. BNY Mellon has consistently received high ratings from all four major credit rating agencies and for key credit categories.7

CREDIT CATEGORY

Long-term depositsLong-term senior debtShort-term depositsOutlook

DBRS

AA AA R-1 (high) Stable (long-term/short-term)

FITCH

AA AA- F1+ Stable

MOODY’S

Aa2 Aa2 P1 Stable

S&P

AA- AA- A-1+ Stable

*For The Bank of New York Mellon

ASSETSAt December 31, 2014

$385.3 billion Total assets

$38.0 billion Total shareholders’ equity

$45.4 billion Market capitalization

REVENUE 12 months ended December 31, 2014

$12,649 million Total fee and other revenue

$2,880 million Net interest revenue

$15,692 million Total revenue2

CAPITAL RATIOS At December 31, 2014

12.2% Tier 1 capital ratio3,4,5

12.5% Total capital ratio3,4,5

9.8% Est. CET1 ratio fully phased- in advanced approach3,4,6

INSIGHTS THAT MATTER

The Boston Company Bolsters Investment Capabilities The Boston Company, a BNY Mellon investment boutique, recently launched two innovative investment strategies – one focused on energy infrastructure, and the other on event-driven catalysts. The energy infrastructure strategy invests in US companies involved in pipelines, terminals and processing facilities. And the event-driven strategy takes concentrated long and short positions in small and mid-cap US companies with catalysts for value such as corporate restructurings, M&A or special situations.

Taxes and Regulatory Change Continues to Bite Many financial services professionals expect their firms to spend more on tax and regulatory changes this year compared to 2014, according to a recent survey by BNY Mellon. The poll, conducted at our third annual Tax and Regulatory Forum in London, showed 71% of the 250 respondents anticipate higher tax and regulatory costs in 2015. However, an even more significant 82% indicated that the coming changes will also bring new business opportunities.

Invested in Lower Carbon Emissions Mellon Capital, a BNY Mellon investment boutique, recently launched the Carbon Efficiency Strategy to provide investors with exposure to companies with relatively lower carbon emissions. The strategy invests in the broad US stock market – underweighting inefficient carbon emitters such as coal-based utilities, while overweighting companies with lower carbon emissions. Mellon Capital manages over $49 billion in ESG strategies and is a signatory to the United Nations Principles for Responsible Investment.

Above figures are as of December 31, 2014.

BNY Mellon delivers expertise at each stage of the investment lifecycle. Whether you’re looking to create, trade, hold, manage, distribute, or restructure investments, we can help.

OUR CAPABILITIES

EXPERTISE THROUGHOUT THE INVESTMENT LIFECYCLE

*Securities transactions are effected, where required, only through registered broker-dealers.

GLOBAL REACH With a dedicated business presence on six continents, 35 countries and over 100 markets, BNY Mellon delivers global scale at the local level. As a Global Systemically Important Financial Institution (G-SIFI), we are one of only 29 financial institutions designated as essential to a functioning global economy.9

CLIENT FOCUS In developing and delivering innovative investment solutions, we put clients at the center of everything we do. Through a collaborative effort, we work closely with you to understand your particular challenges and respond with customized solutions at every phase of the investment lifecycle.

TECHNOLOGYInnovation at BNY Mellon begins with our proprietary technology, which provides you with comprehensive control over your investments. Our state-of-the-art data centers are designed to provide critical business continuity all around the world.

CREATE ASSETS

RESTRUCTURE ASSETS

DISTRIBUTE ASSETS*

MANAGE ASSETS

HOLD AND SERVICE

ASSETS

TRADE, CLEAR AND SETTLE

ASSETS*

We create assets to provide access to capital.

CORPORATE TRUSTDEPOSITARY RECEIPTS GLOBAL MARKETS

We trade* assets to enable you to seize new opportunities.

BROKER-DEALER SERVICESGLOBAL COLLATERAL SERVICESGLOBAL MARKETS PERSHING8 TREASURY SERVICES

We hold and service assets to help keep investments secure.

ASSET SERVICING GLOBAL COLLATERAL SERVICES GLOBAL MARKETS PERSHING8

WEALTH MANAGEMENT

We restructure assets to support your changing financial needs.

CORPORATE TRUSTGLOBAL COLLATERAL SERVICES GLOBAL MARKETS

We distribute* assets to deploy your capital more efficiently.

INVESTMENT MANAGEMENTGLOBAL COLLATERAL SERVICES GLOBAL MARKETSPERSHING8

We manage assets to support your specific investment goals.

INVESTMENT MANAGEMENT PERSHING8 WEALTH MANAGEMENT

OUR CLIENTS

* Insight Investment does notoffer services in the US.

THE INVESTMENTS COMPANY FOR THE WORLD

BNY Mellon is a provider of investment management and investment services and we are a world-renowned leader in each. When combined, the power of our extensive capabilities can help drive your success in markets around the world.

OUR GLOBAL MEASURE

$28.5 trillionAssets under custody and/or administration

$1.7 trillionAssets under management1

$2.1 trillionAverage tri-party repo balances

$190 billionPrivate client assets

OUR CLIENTS – Asset Managers

– Banks

– Broker-Dealers

– Central Banks

– Corporations

– Family Offices

– Financial Intermediaries

– Governments

– High-Net-Worth Individuals

– Insurance Companies

– Investment Advisors

– Non-Profit Organizations

– Pension Funds

– Sovereign Institutions

INVESTMENT MANAGEMENT + INVESTMENT SERVICES

INVESTMENT MANAGEMENT10,11 We combine the scale of a full service investment manager with the focused expertise of autonomous investment boutiques, each with their own style, strategy and management team. All together, we have the skill to deliver uncorrelated alpha, and the scale to deliver diversified beta.

INVESTMENT SERVICES BNY Mellon provides a comprehensive range of investment services that are unrivaled in scale, precision and quality. Our services have the power to enhance transparency, maximize liquidity and mitigate risks. We help you make the most of your investments.

CAPITAL AND LIQUIDITY – Access global markets

– Optimize funding and operating capital

– Maximize liquidity and cash flow

EXECUTION AND PROCESSING – Conduct, clear and settle trades

– Enhance trading transparency

– Mitigate operational risk

– Execute interest rate, equity and currency transactions

SERVICING INVESTMENTS – Safekeep and secure assets

– Improve operational efficiency

– Outsource middle office functions

– Facilitate collateral movement and optimization

INVESTMENT STRATEGIES – Global Equities

– Specialized Fixed Income & Credit

– Alternatives (liquid/illiquid)

– Cash & Currency Management

– Global/Tactical Asset Allocation

– Outcome-Oriented Solutions

INVESTMENT VEHICLES – Institutional and Retail Mutual Funds

– Collective Funds

– Separate Accounts

– Sub-Advisory

WEALTH MANAGEMENT – Investment Management10

– Wealth and Estate Planning

– Private Banking12,13

– Asset Servicing and Information Management

*

bnymellon.com BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Products and services may be provided under various brand names and in various countries by subsidiaries, affiliates, and joint ventures of The Bank of New York Mellon Corporation where authorized and regulated as required within each jurisdiction, and may include The Bank of New York Mellon (member FDIC), One Wall Street, New York, New York 10286, a banking corporation organized and existing pursuant to the laws of the State of New York and operating in England through its branch at One Canada Square, London E14 5AL, England. Registered in England and Wales with FC005522 and BR000818. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorized by the Prudential Regulation Authority. The Bank of New York Mellon is provisionally registered as a swap dealer with the Commodity Futures Trading Commission through the National Futures Association. The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Not all products and services are offered at all locations. All references to assets under management and assets under custody and/or administration are as of December 31, 2014 unless otherwise noted and are preliminary.

The material contained in this brochure, which may be considered advertising, is for general information and reference purposes only and not intended to provide legal, tax, accounting, investment, financial or other professional advice on any matter, and is not to be used as such. This brochure is a financial promotion in the UK and EMEA. This brochure, and the statements contained herein, are not an offer or solicitation to buy or sell any products (including financial products) or services or to participate in any particular strategy mentioned and should not be construed as such. This brochure is not intended for distribution to, or use by, any person or entity in any jurisdiction or country in which such distribution or use would be contrary to local law or regulation. Similarly, this brochure may not be distributed or used for the purpose of offers or solicitations in any jurisdiction or in any circumstances in which such offers or solicitations are unlawful or not authorized, or where there would be, by virtue of such distribution, new or additional registration requirements. Persons into whose possession this brochure comes are required to inform themselves about and to observe any restrictions that apply to the distribution of this document in their jurisdiction. The information contained in this brochure is for use by wholesale clients only and is not to be relied upon by retail clients. Additional information about our company is available in our annual report on Form 10-K, proxy statement, quarterly reports on Form 10-Q and our current reports on Form 8-K filed with the SEC available at www.sec.gov.

1 Assets under management include assets from all of BNY Mellon’s investment boutiques in addition to the company’s Wealth Management assets. 2 Total revenue for the 12 months ended December 31, 2014 includes $163 million of income from consolidated investment management funds.3 December 31, 2014 regulatory capital ratios are preliminary. See our earnings release filed with the SEC on Form 8-K on January 23, 2015 and available at

www.bnymellon.com for more detail.4 Risk-based capital ratios include the net impact of including the total consolidated assets of certain consolidated investment management funds in risk-weighted

assets. 5 The transitional Standardized Approach risk-based capital ratios (which represent the Collins Floor comparison) of the Tier 1 and Total risk-based consolidated

regulatory capital ratios are 16.3% and 16.9%, respectively, at December 31, 2014, and are calculated based on Basel III components of capital, as phased-in, and asset risk-weightings using the general risk-based guidelines included in the Final Capital Rules (which for 2014 look to Basel I-based requirements).

6 Represents a non-GAAP measure. The estimated common equity Tier 1 (CETI) ratio, fully phased-in, using Standardized Approach is 10.6%. Additional disclosure regarding these measures and other non-GAAP measures is available in the Company’s reports filed with the SEC, including our earnings release filed with the SEC as an exhibit to the current report on form 8-K on January 23, 2015.

7 Credit ratings shown are for The Bank of New York Mellon as of December 31, 2014. A credit rating is not a recommendation to buy, sell, or hold securities. The rating may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of the other ratings.

8 Pershing is the umbrella name for Pershing LLC (member FINRA, SIPC, NYSE), Pershing Advisor Solutions LLC (member FINRA, SIPC), Pershing Prime Services, Pershing Limited (UK), Pershing Securities Limited, Pershing Securities International Limited (Ireland), Pershing (Channel Islands) Limited, Pershing Securities Canada Limited, Pershing Securities Singapore Private Limited and Pershing Securities Australia Pty Ltd.

9 A Global Systemically Important Financial Institution (G-SIFI), as indicated by the Basel Committee, is a financial institution whose distress or failure, because of its size, complexity and systemic interconnectedness, would cause significant disruption to the global financial system and economic activity.

10 Investment products (other than deposit products) referenced in this brochure (including money market funds) are not insured by the FDIC (or any other state or federal agency), are not deposits of or guaranteed by BNY Mellon or any bank or non-bank subsidiary thereof, and are subject to investment risk, including the loss of principal amount invested.

11 Unless noted, all investment boutiques are wholly-owned subsidiaries of BNY Mellon. BNY Mellon owns over 95% of the parent holding company of The Alcentra Group which is comprised of the following affiliated investment advisors: Alcentra Ltd. and Alcentra NY, LLC. • BNY Mellon Cash Investment Strategies is a division of The Dreyfus Corporation. • The Dreyfus Corporation does not offer products outside of the US. • Insight Investment Management Limited and Meriten Investment Management GmbH do not offer services in the US. This brochure does not constitute an offer to sell, or a solicitation of an offer to purchase any of these firms’ services or funds to any US investor. • BNY Mellon owns 90% of The Boston Company Asset Management, LLC and the remainder is owned by employees of the firm • Insight Investment does not offer services in the US. Services offered in the US, Canada and Australia by Pareto Investment Management Limited under the Insight Pareto brand. • The Newton Group (“Newton”) is comprised of the following affiliated companies: Newton Investment Management Limited, Newton Capital Management Limited (NCM Ltd), Newton Capital Management LLC (NCM LLC), Newton International Investment Management Limited and Newton Fund Managers (C.I.) Limited. NCM LLC personnel are supervised persons of NCM Ltd and NCM LLC does not provide investment advice, all of which is conducted by NCM Ltd. Only NCM LLC and NCM Ltd offer services in the US • BNY Mellon owns a 20% interest in Siguler Guff & Company, LP and certain related entities (including Siguler Guff Advisers, LLC).

12 Consumer credit services, which are subject to application and credit approval, and banking services are provided by BNY Mellon, N.A., member FDIC. Commercial credit services, which are subject to application and credit approval, may be provided by The Bank of New York Mellon or BNY Mellon, N.A. Mortgage services are subject to credit approval and are provided by BNY Mellon, N.A. Brokerage services are provided by BNY Mellon Wealth Advisors, a division of MBSC Securities Corporation (“MBSC”). MBSC is a dually registered investment advisor/broker-dealer and member FINRA and SIPC and is a wholly-owned subsidiary of BNY Mellon. BNY Mellon is an equal housing lender.

13 SIPC protects securities in customer accounts of its members up to $500,000 in securities (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. SIPC does not protect against loss due to market fluctuation. SIPC protection is not the same as, and should not be confused with, FDIC insurance.

Trademarks, service marks and logos belong to their respective owners.

© 2015 The Bank of New York Mellon Corporation. All rights reserved. 1-250-3007

AWARDS AND RECOGNITION

-Best in Collateral Management - Best in Securities Lending

Triple A Asset Servicing Awards The Asset, 2014

-Best US Private Bank - Best Private Bank for Family Offices

Family Wealth Awards Family Wealth Report, 2014

-#1 Overall - #1 Collateral Management

Tri-Party Survey Global Investor/ISF, 2014

-Best FX Research -Best Technical Analysis - Best Forecasts

World’s Best Foreign Exchange Providers Global Finance, 2014

- #1 Overall Corporate Trust Service Provider, Globally Thomson Reuters, Dealogic, Clearstream, 1Q2014

- #1 Global Custodian Global Custody Survey R&M Global Custody.net, 2014

- Most Innovative Project of the Year Wholesale Margin SegregationSM Americas Awards Custody Risk, 2014

- Collateral Manager of the Year Asia Risk Awards Asia Risk, 2014

- Best Prime Broker for Innovation Pershing Prime Services US Hedge Fund Service Awards HFM Week, 2014

We have a long history of powering the financial services industry. And we continue to drive transformative ways to support people, platforms and businesses—and to sustain innovation.

YOUR BUSINESS WITHOUT LIMITS®

As the New Model Clearing FirmTM, Pershing provides a broad suite of financial business solutions for advisors and broker-dealers to drive their business forward in a dynamic industry and regulatory environment.

Organized around the needs of advisory firms, Pershing Advisor Solutions is the New Model CustodianTM, delivering superior client service, innovative technology, financial solutions and a practice management offering geared toward implementation, so investment managers, wealth managers, family offices and turnkey asset management providers can thrive.

Pershing Prime Services, the New Model Prime BrokerTM, delivers a comprehensive suite of prime brokerage solutions with stable counterparty strength, extensive access to lendable securities and robust reporting tools.

Pershing Limited provides financial business solutions to investment banks, broker-dealers, wealth managers, financial planners and advisers in Europe, from front-end technology to middle-office capabilities with execution, settlement and custody services.

Albridge delivers enterprise data management solutions that enable financial organizations to leverage a single source of information to power mission-critical technology applications.

Lockwood provides managed account solutions and, as program sponsor, provides access to leading investment managers, delivers independent research on separate account managers and develops advisory solutions.

WE ARE PERSHING. WE ARE BNY MELLON.Pershing, a BNY Mellon company, and its affiliates provide global financial business solutions to advisors, asset managers, broker-dealers, family offices, financial organizations, fund managers, registered investment advisory firms and wealth managers.

INVESTED IN YOU.Our company understands the importance of collaborating with you—working hard to understand your unique needs, maximizing opportunities and solving challenges. We’re invested in you.

We Succeed When You:

Serving With Expertise and DedicationOur roots run deep with Wall Street experience that spans generations—but it’s our people who are here to power your business. Our team is passionate about serving clients and the investors they serve—and our communities and industry—with expertise and dedication. We help firms like yours effectively compete by providing insightful analysis that informs your smart decisions.

A Global ViewA financial services market leader located in 23 offices worldwide, the people of Pershing provide advisors and firms with unique global insights into industry trends,

regulatory changes and best practices, as well as shifts in investor sentiment and expectations. Pershing provides solutions, including innovative programs and business consulting, that help create a competitive advantage for our clients.

A Trusted ProviderApproximately 1,500 clients—including asset managers, broker-dealers, family offices, financial organizations, fund managers and registered investment advisory firms—count on solutions from Pershing to help them power their businesses.

We Stand Ready to:

Let us help you maximize your opportunities. Learn more at pershing.com.

› Attract the best talent › Power profits

› Innovate › Advocate

› Turn challenges into opportunities

› Manage risk and regulations › Run your business efficiently

©2015 Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a wholly owned subsidiary of The Bank of New York Mellon Corporation (BNY Mellon). Trademark(s) belong to their respective owners. For professional use only. Not for distribution to the public.One Pershing Plaza, Jersey City, NJ 07399

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