1. Personal Financial
Service Expertise Integrity
Services
Sherry S. Barrat
Co-President, PFS
Principles That Endure
INVESTOR DAY 2008
© 2008 Northern Trust Corporation

2. Key Strategic Priorities
Personal Financial Services
Leveraging Our Renowned
Client Service Culture
Offering Comprehensive and
Holistic Solutions to Clients in
Target Segments
Strategies and Opportunities
for Continued Growth
Service Expertise Integrity
2

3. PFS Is the 119-Year Heritage of Northern Trust Corporation
Industry leader in wealth management.
Renowned for exceptional client service.
85 PFS Offices in 18 States
Washington
(1)
Serving high growth market
Attractively positioned Minnesota
Minnesota Michigan
(1) (3) Massachusetts (1)
office footprint Wisconsin
Wisconsin
(1)
(1)
Connecticut (1)
New York (1)
Integrated client service Nevada
Ohio
Ohio
Illinois Delaware (1)
(1)
(1)
(1)
(19)
(19)
teams Colorado
Colorado
(1)
Missouri
Missouri
(1)
(1)
Largest personal trust bank California
(11)
Georgia
Georgia
Highest levels of client (1)
(1)
Arizona
(8)
satisfaction
Texas Florida
(7) (25)
Service Expertise Integrity
3

4. In Recent Years, PFS Client-Centric Initiatives…
…have focused on building
comprehensive investment and advisory solutions.
Wealth
Management
The recognized
leader in providing
sophisticated
financial solutions
to the world’s
Wealth Advisory wealthiest families.
$75 MM
Delivering
comprehensive,
Holistic advice-driven
Solutions financial solutions
through a multi-
Private Client manager program.
$10 MM
Delivering trust,
investment
management and
banking solutions to
individuals through
85 offices in 18 states.
$1 MM
Service Expertise Integrity
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5. Today, Delivering a Comprehensive Array…
…of solutions across the risk spectrum to
meet the investment needs of clients.
2008 PFS Portfolio Allocation
Total AUM: $146 Billion (1Q 2008)
Cash
Fixed Income
Active and
Traditional Cash
Structured Munis
Enhanced Cash
Active Taxable
High Yield Munis
High Yield Taxable
Alternatives
Laddered
Hedge Funds Commodities
Portfolios
Private Equity Real Estate
Global Fixed Income
Equity
Large-Cap Growth International Global Sustainability Index
Large-Cap Core ETFs Multi-Manager Funds
Large-Cap Value Tax-Managed Index External Managers (SMAs)
Mid-Cap Enhanced Index Single Stock Risk
Management
Small-Cap International Index
Service Expertise Integrity
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6. Significant Growth in Client Use of Expanded Solutions
2008 PFS Portfolio Allocation
Total AUM: $146 Billion
(1Q 2008)
Expanded Solutions
AUM: $43 Billion
NTGI proprietary
External managers
Service Expertise Integrity
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7. Holistic Approach to Wealth Management…
…addresses the full spectrum of our clients’ unique needs.
Private Banking
Asset Management
Trust Services
Financial Planning
CLIENT
Philanthropic Services
Retirement Planning
Business Banking
Brokerage
Service Expertise Integrity
7

8. Today, PFS Client-Centric Initiatives…
…are focused on further strengthening
our client service culture.
Wealth
Management
The recognized
leader in providing
sophisticated
financial solutions
to the world’s
Wealth Advisory wealthiest families.
$200 MM
Delivering
Holistic comprehensive,
Solutions advice-driven
financial solutions
through an
integrated team of
Integrated Private Client specialists.
Teams $5 MM
Delivering trust,
investment
management and
banking solutions to
individuals through
integrated teams.
$1 MM
Service Expertise Integrity
8

9. Private Client Services
Heritage and Foundational Client Base
Growth Initiatives
Private Client Services and Opportunities
Deepen single-service
Private Client
relationships
Services
Revenues Utilize expanded product array to
support client objectives and
58%
expand share of wallet
Further increase engagement with
clients through integrated teams
Wealth
Advisory
Revenues
Wealth
Management
Revenues
Service Expertise Integrity
9

10. Wealth Advisory Services
Offering Sophisticated Advice to Clients with Complex Needs
Growth Initiatives
Wealth Advisory Services and Opportunities
Utilize team structure and expertise
Private Client
to broaden client relationships
Services
Revenues Continue to expand investment
solutions
Lead with advice by incorporating
financial planning, philanthropic and
30% fiduciary services, and open
architecture investment consulting
Wealth
Advisory
Revenues
Wealth
Management
Revenues
Service Expertise Integrity
10

11. Wealth Management Group
Further Leverage Industry Leadership in Serving the World’s
Wealthiest Families
Wealth Management Group
400 family relationships in 15 countries
Private Client Average relationship size: $470+ million
Services
Serving 20% of Forbes 400
Revenues
Richest Americans
AUC: $189 billion
AUM: $30 billion
AUC CAGR: 21% (1997 – 1Q 08)
Wealth
12% Advisory
Growth Initiatives
Revenues
Wealth
Management Effectively introduce asset management
Revenues solutions to existing client base
Expand international clientele from
European base in London
Service Expertise Integrity
11

12. Family Advisory Services
Introducing a new offering to families who
Wealth
desire the services of a family office.
Management
The recognized leader
in providing
sophisticated financial
solutions to the
world’s wealthiest
Family Advisory families.
$200 MM
Serving as clients’
family office, providing
sophisticated
Holistic investment advisory,
asset servicing, and
Solutions
Wealth Advisory family services.
$50 MM
Delivering
Integrated comprehensive,
Teams advice-driven financial
solutions through an
integrated team of
Private Client specialists.
$5 MM
Delivering high-touch
trust, investment
management and
banking solutions to
individuals through
integrated teams.
$1 MM
Service Expertise Integrity
12

13. Personal Financial Services
Summary and Q&A Attractive
Client Markets
Client- Focused
Brand Capabilities
Centric
Key Strategies and Opportunities
for Long-term Growth Excellence
in Execution
Attractive growth rates in target markets
Broaden breadth of relationships
Enhance referral flow
Sustain and leverage flight to quality
Selective geographic expansion
Service Expertise Integrity
13

14. Personal Financial
Service Expertise Integrity
Services
Sherry S. Barrat
Co-President, PFS
Principles That Endure
INVESTOR DAY 2008
© 2008 Northern Trust Corporation