1 A Presentation for FCERA

N O R T H E R N T R U S T

© 2013 Northern Trust Corporation northerntrust.com

Prepared for Fresno County Employees’ Retirement Association April 3, 2013

Who is Northern Trust? A leading asset manager and asset servicer to institutional and private investors worldwide

Robert Ernst

Senior Vice President

Client Executive

rae@nrs.com

312.444.5498

2 A Presentation for FCERA

A Unique Business Focus

Founded in 1889, Northern Trust is a market leader of asset servicing and asset

management solutions for institutions and private clients around the globe.

A highly focused business model supporting two client bases across a single operating platform

Personal Financial Services (PFS)

Corporate & Institutional Services (C&IS)

Asset

Servicing Asset

Management

WORLDWIDE INSTITUTIONAL INVESTORS

U.S. and European PRIVATE CLIENTS

Assets

under custody

US $4.80 trillion

Assets

under administration

US $2.8 trillion*

Assets

under management

US $759 billion

As of 12/31/2012

* Includes US$216 billion defined contribution

funds (as at 9/30/12) (updated on a quarterly

lag basis)

Source: Northern Trust

3 A Presentation for FCERA

Focused on What We Do Best Providing Stability For You

Investment banking

Sub-prime mortgage underwriting

Asset backed commercial paper conduits

Private equity bridge financing

Discount brokerage

American depositary receipts

Northern Trust is sharply focused on asset management and asset

servicing - we do not change our business model or risk profile to capitalize on shifting markets, giving you stability for your business.

Businesses Northern Trust is NOT in:

Credit cards

Retail banking

Consumer finance

Venture capital

Stock transfer

Defined contribution record keeping

4 A Presentation for FCERA

Delivering A Broad Range of Solutions

Full array of capabilities to meet needs of sophisticated institutional investors.

Fund accounting

Transfer agency

Corporate secretarial

Trustee

Investment operations outsourcing

Safekeeping

Settlement

Derivatives processing

Benefit payments

Income collection

Corporate actions

Tax reclamation

Global index management

Quantitative active

Fundamental active

Target date

Multi manager

Exchange traded funds

Hedge funds

Private equity

Investment outsourcing

Liability driven investing

Investment accounting

Reporting and valuation

Performance analytics

Risk monitoring and reporting

Trade execution analysis

General Ledger Interfaces

Cross-border pooling (patent pending)

Trade execution

Cash management

Transition management

Securities lending

Foreign exchange

Commission management

Passive currency overlay

Asset Administration

Asset Processing

Asset Reporting

Asset Enhancement

Asset Management

5 A Presentation for FCERA

Undiluted By Mergers and Acquisitions

We have a 123-year heritage ― we have been Northern Trust since 1889 and

are undiluted by mergers and acquisitions.

The growth that we have achieved through the years has been overwhelmingly sourced

from organic growth.

1889 2013

6 A Presentation for FCERA

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 12/31/2012 (updated quarterly)

Source: Northern Trust

*Total employees, 14,202 of which are permanent

Stockholm

7 A Presentation for FCERA

Marin County

San Francisco

Los Altos

Santa Barbara

Montecito

Westwood

Los Angeles

San Diego

La Jolla

Newport Beach

NT Locations in California

Texas 7

Massachusetts 1

Connecticut 1

Illinois 15

Ohio 1

Michigan 3

Florida 25

Colorado 1

Washington 1

Missouri 1

Nevada 1

Wisconsin 1

Georgia 1

Arizona 8

New York 1

Minnesota 1

Delaware 1 California

11

8 A Presentation for FCERA northerntrust.com

Global Custody & Benefit Payment Services

N O R T H E R N T R U S T

Comprehensive service suite, global network, single global platform

© 2013 Northern Trust Corporation

9 A Presentation for FCERA

A Comprehensive Service Suite

Northern Trust delivers process efficiencies, automation, scale and flexibility through our comprehensive asset servicing product offering.

Accounting

and

reporting

Trade

settlement Safekeeping

Income

collection

and tax

reclamation

Corporate

actions

Class

actions

Proxy

voting

Trade

receipt

and capture

10 A Presentation for FCERA

Expertise Across The Full Custody Spectrum

Emphasis on automation, straight-through processing (STP), accuracy and timeliness…

reducing risk, enhancing efficiency, minimizing cost and ensuring transparency.

As at 12/31/2012

Class actions

Gathering information, providing

timely notifications, filing claims and

posting disbursements

Safekeeping

US $4.80 trillion in assets under

custody, US $1.9 trillion in cross-

border assets

Covering 102 markets

Web trade services

Connected to over 2,700 end-points in

the global brokerage community with

automated communications to over 40

major custodians globally

Hitting > 60,000 trades/month

Trade settlement

98% of trades captured electronically

across 102 markets

Contractual settlement in

approximately 40 countries

Income collection and tax reclamation

Income on payable date in 35 markets

Tax reclamation and relief at source

Corporate actions

Global processing in excess of 80,000

corporate actions across 102 markets

every year

Proxy voting

On-line proxy voting in 48 markets

Accounting and reporting

Single global, integrated, multi-

currency platform servicing all

investment participants

Trade receipt and capture

Over 18.6 million trades processed globally annually

A dedicated global team servicing alternative assets and non-STP investments

11 A Presentation for FCERA

Partner With A Proven Provider of Benefits Payment Services

Easy access to benefit payment information online through

Benefit Payment Passport®

Available 24/7 via the internet

Flexibility to issue payments on any business day - no blackout period

24-hour turnaround for payment direction

Continual system updates in response to regulatory changes

Efficient transfer of payments without interruption

A well-defined seamless transition process

Two parallel check runs prior to going live to ensure accuracy

Participant communication provided before and after live date

Dedicated client servicing

Dedicated client service representative focused on your needs

Supported by a team with shared e-mail and telephone number to ensure someone

always responds

Data protection through comprehensive security measures

Two-factor authentication security

You determine the levels of access for your administrative team

Proven benefit payment

experience over 45 years

(since 1965)

Issuing more than 1.5 million

checks per month

Source: Northern Trust

12 A Presentation for FCERA

Important Information

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S.

The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern

Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.

The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and

should not be distributed to or relied upon by retail investors. For Asia Pacific markets, it is directed to institutional investors, expert investors and

professional investors only and should not be relied upon by retail investors.

Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration

Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission. Northern Trust International Fund Administrators (Jersey)

Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission. Northern Trust

International Fund Administration Services (Ireland) Limited, Northern Trust Securities Services (Ireland) Limited and Northern Trust Fiduciary

Services (Ireland) Limited are regulated by the Central Bank of Ireland. Northern Trust Global Services Limited has a Luxembourg Branch, which is

authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Northern Trust Luxembourg Management Company S.A.

is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Northern Trust Global Investments Limited has a Netherlands branch,

which is authorised by the Financial Services Authority and subject to regulation in the Netherlands by the AutoriteitFinanciëleMarkten. Northern Trust

Global Services Limited has a Netherlands Branch, which is authorised and regulated in the Netherlands by De Nederlandsche Bank. Northern Trust

Global Investments Limited has a Sweden branch, which is authorised by the Financial Services Authority and subject to regulation in Sweden by the

Finansinspektionen. Northern Trust Global Services Ltd (UK) Sweden Filial is authorised by the Financial Services Authority and subject to regulation

by the Finansinspektionen. Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office. Our registered office is

authorised and regulated by the Central Bank of the United Arab Emirates. The Northern Trust Company operates in Australia as a foreign authorised

deposit-taking institution (foreign ADI)and is regulated by the Australian Prudential Regulation Authority. The Northern Trust Company has a branch in

China regulated by the China Banking Regulatory Commission. The Northern Trust Company of Hong Kong Limited is regulated by the Hong Kong

Securities and Futures Commission. Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency. The

Northern Trust Company has a Singapore Branch, which is a foreign wholesale bank regulated by the Monetary Authority of Singapore. The Northern

Trust Company operates in Canada as The Northern Trust Company, Canada Branch, which is an authorised foreign bank branch under the Bank Act

(Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorised trust

company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not

insured by the Canada Deposit Insurance Corporation.

IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be

used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. For more information about this notice, see

http://www.northerntrust.com/circular230.