Invested in ChangeCorporate Social Responsibility at BNY Mellon

Our VisionImproving Lives Through Investing

We provide expertise and insight in the financial marketplace to power investment success. In doing so, we seek to improve the lives of countless people globally – a vision that motivates us to be the very best at what we do.

Gerald L. HassellChairman and Chief Executive Officer

Invested in Change | Corporate Social Responsibility

0 net carbon emissions

achieved through emissions reduction, renewable energy

credits and carbon offsets Read more on page 14

Added

3 women to our Board of

Directorsin 2016, and advance women in our

workforce, with 42 percent representation in our global workforce and 36 percent

at the vice-president levels Read more on page 10

Promote a strong risk culture, with

96% of employeesaware of risks relevant

to their work Read more on page 8

Provide

$42 millionin annual support to our communities around the world, and our employees

volunteer 143,000 hours1

Read more on pages 10 and 12

Build a culture of lifelong learning by delivering nearly

1 million learning hours

to employees annually Read more on page 12

Manage

$69.3 billionin assets according to ESG and values-based exclusionary screens

Read more on page 14

Our Impact

3Invested in Change | Corporate Social Responsibility

At BNY Mellon, CSR is not a philosophy. It is a company-wide strategy that brings together innovative ideas and impactful programs to help solve some of the world’s biggest problems and create positive and sustainable change.

Monique R. HerenaChief Human Resources Officer and Senior Executive Vice President, Marketing & Corporate Affairs

Corporate Social Responsibility at BNY MellonWe live in an era alive with possibility for those who are forward-thinking and who embrace change. Inspired by bold ideas and a legacy of innovation, BNY Mellon works with stakeholders to evolve for the future and drive lasting impact.

Corporate social responsibility (CSR) supports our vision to improve lives through investing. Our CSR initiatives flow across our entire company to reinforce our trusted brand, allow clients to work with a company whose values match their own, enable our employees to feel good about where they work and improve lives in communities around the world. We are committed to creating an inclusive sustainable world that encourages people to succeed and economies to thrive.

Invested in Change

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Read more on page 14

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Global Trends Shaping our CSR Work

Five Key Trends

In our more than 230 years of existence, change has been a constant. We not only embrace it, we encourage it. A deep understanding of how global trends affect our business and stakeholders is critical to leading and managing change and finding solutions to the world’s most pressing challenges.

1 Technological advancements are accelerating

It can take a human five to 10 minutes to reconcile a failed trade. A bot can do it in a quarter of a second.2

2 Globalized markets are shifting rapidly

84 percent of executives believe geopolitical instability will have an ‘important’ or ‘very important’ impact on global business in the next five years.3

3 Gender equality is a pre-condition for global development

Gender-diverse companies are 15 percent more likely to outperform peers.4

4 The global workforce is changing

There are four generations of people in the U.S. workforce today – more than any in modern history.5

5 Climate change impacts are taking effect

Global emissions of carbon dioxide (CO2) have increased by almost 50 percent since 1990.6

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1Trend Technological

Advancements Technological Advancements are AcceleratingRapidly advancing technology will reshape society in unprecedented ways. This ‘Fourth Industrial Revolution’ has the potential to open new markets, drive economic growth and improve quality of life around the world.7 The implications for businesses are many, including labor market changes, innovative new competitors, customer demand for new services and increased cyber threats.

Our OpportunityThe transformative power of digitization compels us to fundamentally rethink every aspect of our operations and revolutionize all phases of investing. We have a bold technology strategy to capture opportunities and meet the challenges of a hyperconnected society, including increased demand for talent, cybersecurity, privacy issues and more calls for corporate transparency. As we use technology to automate routine tasks, our people can focus their time and energy on applying industry knowledge to develop and deliver value-added services and market-leading solutions.

By 2020 more people will have a cell phone than electricity or running water8

We protect more than 40 petabytes of client and company data, the equivalent storage capacity of

2.5 million 16GB smartphones

We invest in innovation by operating

9 Global Innovation Centers,which bring together business and technology expertise, connect us to fintech firms and enable us to collaborate with clients on new solutions

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Our ImpactFinancial services technology is advancing quickly with sophisticated new applications to turbocharge progress. We harness emerging technologies in our everyday business to manage risk responsibly, establish market-leading solutions and delight clients.

Harnessing Big Data for Operational PerformanceNEXENSM is BNY Mellon’s digital ecosystem enabling analytical capabilities across our business to drive measurable improvements. One component of the ecosystem is Digital PulseSM, a real-time, big data analytics and visualization platform that gives business leaders actionable insights to improve performance through evidence-based management. Digital Pulse captures, stores and analyzes more than 1.4 billion events per month.

One example of how we use Digital Pulse is to improve operational performance. We use Digital Pulse to understand why breaks or ‘fails’ in operations occur so we can increase straight-through-processing rates. Digital Pulse creates processing visualizations, allowing us to track trends over time and work with clients to prevent future fails. The result is an enhanced client experience, higher straight-through-processing rates and lower costs for all parties.

Driving Forward with RoboticsTraditionally, financial services required many manual, routine and repetitive processes. In 2016, BNY Mellon became an early adopter of robotic process automation (RPA), which uses web robots, also known as bots, to automate tasks for greater efficiency, accuracy, risk reduction and cost efficiency. Our RPA team works with our business leaders and teams to find ways to use bots, such as streamlining trade settlements by performing research on orders, resolving discrepancies and clearing trades. It can take a human five to 10 minutes to reconcile a failed trade; a bot can do it in a quarter of a second.

With automation and digitization of routine work, our employees have more time and energy to develop and deliver innovative products and services to clients. By combining technology and human ingenuity, we can drive profitable revenue growth and enhance the client experience.

7Invested in Change | Corporate Social Responsibility

2Trend Globalized

MarketsGlobalized Markets are Shifting RapidlyGlobalization has increased market efficiency, competition and wealth distribution.9 But with these benefits comes risk, as one country’s economic fluctuations, geopolitical change and societal norms can affect the entire system.

Our OpportunityTo capitalize on the positive aspects of globalization, businesses must anticipate the risks it can create, prepare for unexpected economic events and tackle issues such as corruption that know no borders. Our focus on managing risk responsibly, protecting our financial strength and stability, unquestioned integrity and operational resiliency helps us support markets and perform to our clients’ high standards in all market conditions.

We promote a strong risk culture, with

96% of employeesaware of risks relevant to their work

We uphold our standing as a strong, safe,

trusted partnerwith 78% of Fortune 500 companies as our clients

84 % of executives believe geopolitical instability will have an ‘important’ or ‘very important’ impact on global business in the next five years10

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Our ImpactWe mitigate risk to our business, our clients and financial markets by monitoring and responding to emerging trends and market forces. We maintain robust policies, training and technologies to protect our assets and those of our clients.

Learning about Risk Through Role-PlayManaging risk is a top priority in protecting BNY Mellon’s brand, assets and reputation. Part of creating a strong risk culture within our teams is to define the values and behaviors we expect of employees in identifying, assessing and mitigating risk.

To help managers in our Asia-Pacific (APAC) region test their skills in this area, we conducted ‘Managing Risk in Your Team,’ a simulation where participants play the role of a BNY Mellon manager going on vacation. The risk event unfolds while the manager is away from the office. Throughout the simulation, participants make decisions based on our Enterprise Risk Management Framework, Three Lines of Defense and Top Ten Practices of Great Managers. The exercise tested skills in various areas, including planning, decision-making, communicating and collating data.

Eighty-four percent of APAC managers completed the simulation. An analysis of results of this user group, as well as other manager populations across the company, identified the strengths as well as skills and behaviors needing improvement. As a follow-up, employees were directed to BNY Mellon resources to help them strengthen their risk management skills. We are also developing a global follow-up training program to address managerial skills and behaviors identified for improvement.

Prepared for Crisis BNY Mellon provides investment management and investment services to clients in more than 100 markets in 35 countries. We safeguard, manage and process trillions of dollars every day to help drive the world’s financial markets and the economies they support. As such, BNY Mellon clients, stakeholders and markets rely on us to be a strong, safe, trusted counterparty prepared for unexpected events and crises. To test our preparedness, understand risks and identify potential gaps, we conduct a variety of simulations throughout the year.

One such exercise tests the procedures, management information and technology we would use in the event of a distressed dealer default and collateral liquidation that could impact our company or market stability. Our 2016 simulation mimicked a real-world event and allowed us to analyze our exposure to situations we may not have encountered before. In addition to extensive participation from the company and its leaders, the simulation included regulators from various jurisdictions who participated in the activities and provided feedback. Lessons learned were incorporated into our company playbooks to better prepare us for a real scenario.

Our risk management practices and simulations not only protect our company and clients, they help us protect markets, economies and livelihoods.

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3Trend Gender

EqualityGender Equality is a Pre-Condition for Global DevelopmentDespite good progress, much still needs to be done to drive toward gender parity globally. Studies show that long-term, sustainable economic growth is possible only when women have equal access to earning power, education, health and political representation. Not only is gender equality a basic human right and an economic driver, it has the potential to enhance company performance and create significant market returns.

Our OpportunityWomen and girls have made significant gains in many areas in the past decade, contributing greatly to positive economic and development outcomes. Gender equality helps us attract, develop and retain top talent and build broader, deeper capabilities. It is essential to achieving the UN Sustainable Development Goals (SDGs) and other long-term global economic goals, it is a material ESG issue for investors and it has been shown to help companies perform better. Our investments in diversity and inclusion programs, social investing initiatives and good corporate governance help ensure gender equality in all aspects of our business.

We advance women in our workforce, with 42% representation in our global workforce and 36% representation at the vice president level

We are

one of 52 firms recognized for our investments in women by the 2017 Bloomberg Financial Services Gender-Equality Index

Globally, 1.7 billion womendo not own a mobile phone,11 1.1 billion women do not have bank accounts12 and women spend 200 million hours collecting water for their families due to inadequate infrastructure13

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Our ImpactStriving for gender equality within and outside our four walls is key to our success. Across BNY Mellon, we promote gender equality through leadership and development programs, diversity and inclusion initiatives, thought leadership and partnerships.

Bridging the Gender Equality Gap Through InvestingGender equality is essential to economic growth and social development, but it has yet to be achieved in many parts of the world. The urgent need to address this issue is underscored in the UN’s SDG 5 – to achieve gender equality and empower all women and girls.

In 2016, the UN Foundation and BNY Mellon developed the report Return on Equality: Investment Opportunities to Help Close the Global Gender Gap. The report brought to light the social and financial benefits of investing in companies that promote gender equality through their products and services. Achieving parity in five sectors alone – telecommunications, contraception, child care, water, and energy–could unlock almost $300 billion in incremental annual spending by 2025.

There is significant opportunity for individual investors, asset managers and companies to move closer to achieving the goal of gender equality and make direct social, market and global economic impacts. Given how products and services help shape health outcomes, livelihoods and economic opportunities, these investments have the potential to change life for the better for billions of women and girls around the globe.

Sponsorships Put Women Technologists on Track for SuccessSenior leaders sponsor employees to help them grow their professional networks, develop new skills and be considered for leadership positions. A lack of sponsorship for women can hold many high-performing women employees back, excluding them from their organizations’ most influential networks.

BNY Mellon’s Women in Technology (WIT) group, organized under our business resource group WIN and affiliated with the Anita Borg Institute, is driving equal access to sponsorship opportunities. Each year, WIT’s Sponsorship Program pairs more than a dozen high-potential women technologists with BNY Mellon technology leaders. For more than six months, sponsors work with protégés to attain leadership positions and reach career goals by publicly advocating for them. Protégés gain access to career opportunities, expand their networking skills and broaden their experience through stretch goals and assignments. They gain valuable visibility by leading a special task force and presenting to the Client Technology Services Executive and Operating Council.

Read the report Return on Equality: Investment Opportunities to Help Close the Global Gender Gap https://www.bnymellon.com/us/en/our-thinking/return-on-equality.jsp

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4Trend Changing

WorkforceThe Global Workforce is ChangingEmployees today want to work for inclusive, diverse, collaborative companies that value them as people and make a positive impact on society and the environment. The workforce is diverse and multigenerational, challenging businesses to manage a wide range of skills, experiences and attitudes and invest in skills development for the workforce of the future.

Our OpportunityThese are positive trends for BNY Mellon and other companies with established CSR programs that help attract, develop and retain top talent. We offer robust skills and leadership development programs, employee engagement mechanisms, diversity and inclusion efforts and holistic wellbeing initiatives. These investments and our community programs to help people develop new skills for the future, lead to happier, healthier and more productive employees, families and communities.

We nurture our diverse, inclusive work environment, with

87 % of employees believing our management supports diversity in the workplace and recognizes and respects people’s differences

There are

four generations of people in the U.S. workforce today – more than any in our history14

We build a culture of lifelong learning by delivering nearly

1 million learning hours to employees

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Our ImpactWe are committed to helping our employees grow and develop into the next generation of leaders. Through our community work, we help people reach their full potential and meet the demand for new skills and a more diverse workforce.

Tomorrow’s Emerging LeadersBuilding a strong pipeline of leaders is key to serving clients long into the future. BNY Mellon’s Emerging Leaders Program (ELP) is one way we transform today’s talent into tomorrow’s superstars.

We selected 24 high-potential employees to participate in our 2016 ELP. Participants worked on strategic assignments, developed leadership skills and built networks across the organization. In addition to benefiting participants, the ELP helps us attract and develop highly talented people and challenges employees at all levels to reach their full potential. “Being surrounded by 23 like-minded and equally driven individuals has been highly motivating and rewarding,” said one participant. “I have grown and learned far more than I could have imagined.”

Helping Students Fast-Track Their DreamsThe world is full of people with ideas for businesses that benefit society. But for students from underrepresented backgrounds, children of immigrants and the first in a family to attend college, bringing ideas to life can be difficult.

Zahn Innovation Center, a business and social impact venture incubator at The City College of New York, offers hope and help to make business dreams come true. In 2016, BNY Mellon employees volunteered at Zahn as mentors to help startup teams refine their business plans. At the end of the program, they awarded cash prizes to help fuel the startups’ momentum. First place went to VeriPAD, technology to battle counterfeit medications in low- and middle-income countries. Tied for second place were Gleam, a patient management tool for mental health professionals; and StreetLabs, a device to evaluate road conditions so governments can make faster, more effective repairs.

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5Trend Climate

ChangeClimate Change Impacts are Taking EffectThe effects of climate change can disrupt lives, communities and economies. Studies show human activities are the most significant contributors to greenhouse gas (GHG) emissions. Experts agree that unless we change our behaviors, climate change will threaten the way we live and the future of our planet. Businesses must invest in energy efficiency, resource conservation and carbon neutrality to contribute to a global solution and protect their own assets and operations.

Our OpportunityBNY Mellon contributes to climate change mitigation and adaptation in our everyday operations, supply chain and communities. With our global scale and reach, we can make an even bigger impact by supporting social investing products and services that enable low-carbon development.

We saved 40 million kilowatts of energy in our data centers, enough to

power 3,700 homes in the U.S. for a year

We achieved

0 net carbon emissions through emissions reduction, renewable energy credits and carbon offsets

The United Nations says climate change now affects

every region on earth15

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Our ImpactHow we manage our environmental footprint is vitally important not just to our businesses, but to the world. We’re invested in innovation inside and outside our doors to minimize our environmental footprint and help our clients, employees and communities do the same.

Supporting Greener TransitTrillions of dollars in ‘green’ investments are needed over the next several years to meet global carbon reduction targets. For public and private sectors, debt capital markets are a scalable, diversified source of funding that includes assets like labeled green bonds.

In February 2016, New York’s Metropolitan Transportation Authority (MTA), which serves 15.3 million people, launched an inaugural green bond. MTA allocated proceeds from the sale of $782.5 million in notes to capital investments in electrified rail and supporting infrastructure. BNY Mellon Corporate Trust worked with MTA to provide indenture trustee, paying agent and registrar services for the bond. BNY Mellon Capital Markets, LLC, acted as co-managing underwriter.

As populations grow, public transit systems can reduce greenhouse gas (GHG) emissions and road congestion by encouraging people to leave their cars behind. MTA calculates it prevents 17 million metric tons of pollutants while emitting only two million metric tons.

Technology Helps Farmers in India Manage ResourcesClimate change creates weather and resource challenges that plague farmers and vulnerable rural communities. In response, BNY Mellon’s iNautix is partnering with National Agro Foundation in India, to develop a geographic information system (GIS) that enables farmers and rural communities to better manage vital natural resources such as soil, water, land and crops.

The GIS will gather data from sensors installed in the fields to measure soil erosion, pollution levels, soil moisture, groundwater levels and land cover dynamics under each watershed. Farmers will access data through a technology hub in each village and a web application that also offers corresponding advice. As examples, the application will suggest crops to grow based on water availability in wells, recommend actions to keep crops healthy based on their color and alert farmers when soil moisture levels are low, allowing them to save water through need-based irrigation instead of regular irrigation.

With iNautix support, the application will improve life for 1,000 farmers and their families in Tamil Nadu, India.

Investment in public transportation is a crucial building block for developing our low-carbon economy and society. We not only help issuers like the MTA realize their environmental and financial objectives, but as employees, we can choose transit options every day to do our part for climate change mitigation.

Caroline CruickshankManaging Director for Strategy, BNY Mellon Corporate Trust

15Invested in Change | Corporate Social Responsibility

Jyoti ChopraChief Diversity OfficerHead of Global Citizenship & Sustainability

For more than 230 years, BNY Mellon has been innovating and evolving for the future, staying ahead of the trends shaping our world and leveraging them for the benefit of our company and our stakeholders.

A vital aspect of my role at BNY Mellon is monitoring global trends, anticipating societal changes and finding new ways to make positive impacts in a constantly changing environment. In 2016, I watched the world undergo substantial economic, societal and political shifts. To name a few, I saw geopolitical changes in global markets, growing attention to cybersecurity as technological advancements accelerated and greater urgency around global climate action as impacts continued to take effect.

Trends like these create great challenges – and great opportunities. It is my opinion that the prospects for finding solutions to world challenges have never been better. Advancing technology has its risks, but it is also enabling people to raise awareness of issues and collaborate on solutions at astonishing speeds. Climate change concerns are spurring incredible innovations in clean energy and driving new opportunities for investors. A reinvigorated focus on achieving gender equality is spurring fresh policy conversations and inspiring new opportunities to invest in the advancement of women across the globe.

I am heartened by the work being done and hopeful for the future of our world. And I am proud that BNY Mellon is leading the way.

We serve a critical role in supporting and stewarding a vibrant, safe and sound global financial system, and can help mobilize capital to solve big challenges. Our CSR strategy is grounded in the intersections between the most pressing global issues and the value our company can bring, and we set strong, measurable goals to drive greater impact.

We are turning today’s difficult issues into tomorrow’s game-changing opportunities for our company and for society. We are invested in improving lives around the world.

Embracing Change for a Better World

16 Invested in Change | Corporate Social Responsibility

We serve a critical role in supporting and stewarding a vibrant, safe and sound global financial system, and can help mobilize capital to solve big challenges.

Jyoti ChopraChief Diversity Officer Head of Global Citizenship & Sustainability

17Invested in Change | Corporate Social Responsibility

Our Markets

CSR embodies our commitment to address global challenges and opportunities and create an inclusive, sustainable world where people succeed and economies thrive. Our CSR strategy is built on three pillars that reflect the many ways BNY Mellon improves lives through investing. The work in Our Markets supports our vital role in the global economy.

We are dedicated to Our People, who are the core of our business. Our World is about contributing solutions to the biggest challenges that society is facing. These pillars help us focus our CSR efforts where we can have the greatest impact.

Our CSR Strategy

18 Invested in Change | Corporate Social Responsibility

Our Markets

Risk Management and Reliability

Risk Framework: Strengthen risk ownership, alignment and quantification

Risk Culture: Establish and achieve an industry best-in-class risk culture

Technology: Evolve business protocols to ensure technology knowledge resilience and business continuity

Strong Governance

Enhance investor engagement by following best practices for shareholder engagement; sustain strong regulatory engagement; and achieve industry-leading client loyalty

Our People

Leadership and Development

Develop successful leaders and managers who drive high productivity and engagement within their teams

Engagement and Wellbeing Build a workforce culture supported by engagement and wellbeing

Diversity and Inclusion

Achieve marketplace leadership and reputation; advance diverse representation in senior-level ranks and drive accountability for a culture of inclusion

Our World

Social Investing Be recognized as a leader in the social investing field consistent with our business model

Community Commitment Significantly increase scope and impact of community support

Environmental Management

Address climate change issues including potential impacts, risk and opportunities and expand and improve environmental management, resource efficiency and reputation

We set new 2020 CSR goals to operationalize our CSR strategy and drive increased value for our company and society. We ended 2016 with our goals largely on track, reaching significant milestones in Risk and Reliability, Engagement

and Wellbeing and Environmental Management. For more information on our performance across our CSR priority areas:

Read our 2016 CSR Report www.bnymellon.com/CSR

Our 2020 Goals

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1 Community support includes donations, grants and charitable sponsorships made by BNY Mellon and employee donations to charities that qualify for our matching program

2 The Rise of Robots. Sandeep Gawade, Robotics Initiative In Client Service Delivery In Pune, India and 2016 BNY Mellon Star. March 2017. https://www.bnymellon.com/us/en/who-we-are/people-report/innovate/the-rise-of-robots.jsp

3 Geostrategic Risks in the Rise, McKinsey, 2016, http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/geostrategic-risks-on-the-rise

4 Why Diversity Matter, by Vivian Hunt, Dennis Layton and Sara Prince McKinsey, January 2015, http://www.mckinsey.com/business-functions/organization/our-insights/why-diversity-matters

5 “Conflict and Diversity Associated with Four Generations in the Workforce,” by Rodney S. Milligan, Walden University, http://scholarworks.waldenu.edu/cgi/viewcontent.cgi?article=3325&context=dissertations

6 The NOAA Annual Greenhouse Gas Index (AGGI). NOAA Earth System Research Laboratory, R/GMD, 325 Broadway, Boulder, CO 80305-3328. Spring 2016. https://www.esrl.noaa.gov/gmd/aggi/aggi.html

7 “The Fourth Industrial Revolution: what it means, how to respond,” World Economic Forum, January 14, 2016, https://www.weforum.org/agenda/2016/01/the-fourth- industrial-revolution-what-it-means-and-how-to-respond/

8 “By 2020, more people will own a phone than have electricity,” by Roger Cheng, February 3, 2016, https://www.cnet.com/news/by-2020-more-people-will-own-a-phone-than-have-electricity/

9 Five Forces Reshaping the Global Economy, McKinsey, 2010 http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/five-forces-reshaping-the-global-economy-mckinsey-global-survey-results

10 Geostrategic Risks in the Rise, McKinsey, 2016, http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/geostrategic-risks-on-the-rise

11 Bridging the Gender Gap: Mobile Access and usage in Low- and Middle-Income Countries, GSMA, 2015.

12 Asli Demirguc-Kunt et al., The Global Findex Database 2014: Measuring Financial Inclusion around the World, Policy Research Working Paper 7255, World Bank Group, April 2015.

13 Every second counts. Every woman counts Water for Women. WaterAid. 2015. www.wateraid.org/~/media/Publications/water-for-women.pdf

14 “Conflict and Diversity Associated with Four Generations in the Workforce,” by Rodney S. Milligan, Walden University, http://scholarworks.waldenu.edu/cgi/viewcontent.cgi?article=3325&context=dissertations

15 Goal 13: Take urgent action to combat climate change and its impacts, UN Sustainable Development, http://www.un.org/sustainabledevelopment/climate-change-2/

CLIMATE

Top Companies for Women Technologists

Leadership Index, Anita Borg Institute

FTSE4Good Global Benchmark Index

Dow Jones Sustainability World Index

Bloomberg Financial Services Gender-

Equality Index

CDP Climate “A” List for climate

management leadership

Best Places to Work 2016, Human Rights

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Some information contained in this report has been obtained from third-party sources and has not been independently verified by BNY Mellon. Information contained in this report may not be comprehensive or up-to-date, and is subject to change without notice. BNY Mellon will not be responsible for updating any information contained within this report and makes no representation as to the accuracy or completeness of such information. BNY Mellon assumes no liability (direct or consequential or any other form of liability) for any errors in or reliance upon the information contained in the report.

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To learn more about CSR at BNY Mellon and to download our CSR Report, visit: www.bnymellon.com/CSR