NTRS 10-K Annual Report Dec. 31, 2020

NORTHERN TRUST CORP

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TABLE OF CONTENTS

Part Iprint Item 1 Businessprint Item 1A - Risk Factorsprint Item 1B Unresolved Staff Commentsprint Item 2 Propertiesprint Item 3 Legal Proceedingsprint Item 4 Mine Safety Disclosuresprint Part IIprint Item 5 Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity Securitiesprint Item 6 Selected Financial Dataprint Item 7 Management S Discussion and Analysis Of Financial Condition and Results Of Operationsprint Item 7A Quantitative and Qualitative Disclosures About Market Riskprint Item 8 Financial Statements and Supplementary Dataprint Note 1 Summary Of Significant Accounting Policiesprint Note 2 Recent Accounting Pronouncementsprint Note 3 Fair Value Measurementsprint Note 4 Securitiesprint Note 5 Securities Purchased Under Agreements To Resell and Securities Sold Under Agreements To Repurchaseprint Note 6 Loans and Leasesprint Note 7 Allowance For Credit Lossesprint Note 8 Concentrations Of Credit Riskprint Note 9 Buildings and Equipmentprint Note 10 Lease Commitmentsprint Note 11 Goodwill and Other Intangiblesprint Note 12 Depositsprint Note 13 Senior Notes and Long-term Debtprint Note 14 Floating Rate Capital Debtprint Note 15 Stockholders Equityprint Note 16 Accumulated Other Comprehensive Income (loss)print Note 17 Net Income Per Common Shareprint Note 18 Revenue From Contracts with Clientsprint Note 19 Net Interest Incomeprint Note 20 Other Operating Incomeprint Note 21 Other Operating Expenseprint Note 22 Income Taxesprint Note 23 Employee Benefitsprint Note 24 Share-based Compensation Plansprint Note 25 Cash-based Compensation Plansprint Note 26 Commitments and Contingent Liabilitiesprint Note 27 Derivative Financial Instrumentsprint Note 28 Offsetting Of Assets and Liabilitiesprint Note 29 Variable Interest Entitiesprint Note 30 Pledged and Restricted Assetsprint Note 31 Restrictions on Subsidiary Dividends and Loans Or Advancesprint Note 32 Reporting Segments and Related Informationprint Note 33 Regulatory Capital Requirementsprint Note 34 Northern Trust Corporation (corporation Only)print Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosureprint Item 9A Controls and Proceduresprint Item 9B Other Informationprint Part IIIprint Item 10 Directors, Executive Officers and Corporate Governanceprint Item 11 Executive Compensationprint Item 12 Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder Mattersprint Item 13 Certain Relationships and Related Transactions, and Director Independenceprint Item 14 Principal Accountant Fees and Servicesprint Part IVprint Item 15 Exhibits and Financial Statement Schedulesprint Item 15(a)(3) Exhibitsprint Item 16 Form 10-k Summaryprint

Exhibits

10.16** Northern Trust Corporation Executive Financial Consulting and Tax Preparation Services Plan, as amended and restated effective January 1, 2008 (which, effective October 1, 2018, was renamed the Northern Trust Corporation Wealth Planning and Tax Consulting Services Plan) (incorporated herein by reference to Exhibit 10 (xxxiii) to the Corporations Annual Report on Form 10-K for the fiscal year ended December 31, 2007). (i)** First Amendment, dated and effective October 3, 2017(incorporated herein by reference to Exhibit 10.18(i)to the Corporations Annual Report on Form 10-K for the year ended December 31, 2019). (ii)** Second Amendment, dated September 27, 2019 and effective October 1, 2018(incorporated herein by reference to Exhibit 10.18(ii)to the Corporations Annual Report on Form 10-K for the year ended December 31, 2019). 10.17** Northern Trust Corporation Non-Employee Director Compensation Plan, as amended. 10.18** Northern Partners Incentive Plan, as amended and restated onFebruary16, 2021. 10.19** Letter Agreement with Frederick H. Waddell, dated January 23, 2019 (incorporated herein by reference to Exhibit 10.26 to the Corporations Annual Report on Form 10-K for the year ended December 31, 2018). 10.20** The Northern Trust Company Death Benefit Plan (incorporated herein by reference to Exhibit 10.1 to the Corporations Quarterly Report on Form 10-Q for the quarter ended June 30, 2019). (i) Amendment Number One to The Northern Trust Company Death Benefit Plan, dated July 11, 2019 and effective May 17, 2019. (ii) Amendment Number Two to The Northern Trust Company Death Benefit Plan, dated July 29, 2019 and effective May 17, 2019. (iii) Amendment Number Three to The Northern Trust Company Death Benefit Plan, dated March 18, 2020 and effective May 17, 2019. 21 Subsidiaries of the Registrant. 23 Consent of Independent Registered Public Accounting Firm. 31.1 Rule 13a-14(a)/15d-14(a) Certification of CEO Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Rule 13a-14(a)/15d-14(a) Certification of CFO Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32 Certifications of CEO and CFO Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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NTRS 10-K Fiscal year ended Dec. 31, 2020

Exhibits