stt-20210716

July 16, 2021 (NYSE: STT) 2Q 2021 Financial Highlights

2 Preface and forward-looking statements This presentation includes certain highlights of, and also material supplemental to, State Street Corporation’s news release announcing its second quarter 2021 financial results. That news release contains a more detailed discussion of many of the matters described in this presentation and is accompanied by detailed financial tables. This presentation is designed to be reviewed together with that news release, which is available on State Street’s website, at http://investors.statestreet.com, and is incorporated herein by reference. This presentation (and the conference call accompanying it) contains forward-looking statements as defined by United States securities laws. These statements are not guarantees of future performance, are inherently uncertain, are based on assumptions that are difficult to predict and have a number of risks and uncertainties. The forward-looking statements in this presentation speak only as of the time this presentation is first furnished to the SEC on a Current Report on Form 8-K, and State Street does not undertake efforts to revise forward-looking statements. See “Forward-looking statements” in the Appendix for more information, including a description of certain factors that could affect future results and outcomes. Certain financial information in this presentation is presented on both a GAAP basis and on a basis that excludes or adjusts one or more items from GAAP. The latter basis is a non-GAAP presentation. Refer to the Appendix for explanations of our non-GAAP financial measures and to the Addendum for reconciliations of our non-GAAP financial information.

3 2Q21 highlights All comparisons are to corresponding prior year periods unless noted otherwise • Total average assets of $308B, up 8%, as average client deposit levels remain elevated • ROE of 12.6%, CET1 ratio of 11.2%4 • Returned more than $600M to shareholders in 2Q21, consisting of $425M of common share repurchases and $181M in common stock dividends • In July 2021, announced a 10% increase to 3Q21 quarterly common stock dividend to $0.57 per share, and a common stock repurchase program of up to $3B through year end 20225 Balance sheet and capital strength • EPS of $2.07, up 11%; $1.97 ex-notable items, up 5%A • Total revenue of $3.0B, up 3%; up 1.5% ex-notable itemsA ‒ Record fee revenue of $2.5B, up 6% (4% ex-currency translationA) primarily reflecting strong servicing and management fee growth of 10% and 14%, respectively ‒ Net interest income of $0.5B, down (16)% primarily driven by lower global interest rates • Total Expenses of $2.1B, up 1%; down (0.4)% ex-notable items and currency translationA ‒ Pre-tax margin of 30.9%, up 3.6%pts; 29.7% ex-notable items, up 2.0%ptsA Financial performance • AUC/A of $42.6T, with servicing wins of $1.2T and new business yet to be installed of $1.2T at quarter end1 ‒ Reported 2 new State Street AlphaSM clients in 2Q21 ‒ Alpha recognized as Front-to-Back partnership of the year by Global Custodian2 • Record AUM of $3.9T at quarter end, with quarterly net inflows of $83B1 • Continued momentum in CRD; strong bookings of $19M and an annual recurring revenue (ARR) of $230M, up 11%3 Business momentum A Financial metrics ex-notable items/currency translation are non-GAAP measures; refer to the Appendix for explanations and reconciliations of our non-GAAP measures. Refer to the Appendix included with this presentation for endnotes 1 to 19.

4 2Q20 1Q21 2Q21 1Q21 2Q20 Revenue: Servicing fees $1,272 $1,371 $1,399 2% 10% 7% Management fees 444 493 504 2 14 11 Foreign exchange trading services 325 346 286 (17) (12) (12) Securities finance 92 99 109 10 18 17 Software and processing fees 245 174 216 24 (12) (12) Total fee revenue 2,378 2,483 2,514 1.2 5.7 3.6 Net interest income 559 467 467 - (16) (19) Other income - - 53 nm nm nm Total revenue $2,937 $2,950 $3,034 2.8% 3.3% 1.1% Provision for credit losses6 $52 ($9) ($15) nm nm nm Total expenses $2,082 $2,332 $2,111 (9.5)% 1.4% (1.0)% Net income $694 $519 $763 47.0% 9.9% Diluted earnings per share $1.86 $1.37 $2.07 51.1% 11.3% Return on average common equity 12.1% 8.4% 12.6% 4.2%pts 0.5%pts Pre-tax margin 27.3% 21.3% 30.9% 9.6%pts 3.6%pts Tax rate 13.6% 17.2% 18.6% 1.4%pts 5.0%pts Ex-notable items, non-GAAP A: Total revenue $2,937 $2,950 $2,981 1.1% 1.5% (0.7)% Total expenses $2,070 $2,293 $2,111 (7.9)% 2.0% (0.4)% EPS $1.88 $1.47 $1.97 34.0% 4.8% Pre-tax margin 27.7% 22.6% 29.7% 7.1%pts 2.0%pts (GAAP, $M, except EPS data, or where otherwise noted) Quarters %∆ 2Q20 %∆ ex-currency translationA Summary of 2Q21 financial results A This is a non-GAAP presentation; ex-currency translation percentage changes are in reference to the YoY quarterly comparison between 2Q21 and 2Q20 which excludes the impact of foreign currency translation; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. B Refer to the Addendum for further details on notable items. C Gain on sale of $53M included in Other income reflecting a gain on sale of a majority interest in our Wealth Manager Services business. D Legal and other benefits of $11M in 2Q21 included in Other expenses. Legal and other costs of $29M in 1Q21 included $20M in Information systems and communications, $8M in Transaction processing and $1M in Other expenses. Refer to the Appendix included with this presentation for endnotes 1 to 19. Notable Items 2Q20 1Q21 2Q21 Gain on saleC - - 53 Acquisition and restructuring costs (12) (10) (11) Legal and otherD - (29) 11 Total Notable items (pre-tax) ($12) ($39) $53 Preferred securities redemption (after-tax) - (5) - EPS Impact ($0.02) ($0.10) $0.10 ($M, except EPS data) QuartersB

5 AUC/A and AUM levels, markets and flows performance AUC/A and AUM A Market indices7 • 27% and 6% increase from 2Q20 and 1Q21, respectively, largely driven by: – Higher period-end market levels, net new business growth, and client flows • 28% increase from 2Q20 reflecting: – Higher period-end market levels and net inflows from ETFs and cash, partially offset by institutional net outflows • 9% increase from 1Q21 due to: – Higher period-end market levels and net inflows AUC/A ($T, as of period-end) AUM ($B, as of period-end) Select industry flows8 +9% +6% $33.5 $40.3 $42.6 2Q212Q20 1Q21 1Q212Q20 2Q21 $3,591 $3,054 $3,897 +27% +28% A Changes to AUC/A and AUM also reflect currency translation. B Line items may not sum to total due to rounding. Refer to the Appendix included with this presentation for endnotes 1 to 19. 1Q21 2Q20 EOP 8% 39% Daily Avg 8 43 EOP 4 29 Daily Avg 5 37 EOP 4 38 Daily Avg (1) 45 (% change) 2Q21 vs S&P 500 MSCI EAFE MSCI EM Barclays Global Agg EOP 1 3 2Q20 1Q21 2Q21 Long Term Funds $56 $165 $167 Money Market 259 156 24 ETF 70 148 148 North America Total 385 470 340 EMEA Total 357 200 266 ($B) Total flowsB

6 Servicing fees of $1,399M up 10% YoY and up 2% QoQ; ex-FX, up 7% YoY A • Up 10% YoY (7% ex-FX) primarily driven by higher average equity market levels, client flows and net new business, partially offset by normal pricing headwinds and the absence of prior year client activity • Up 2% QoQ mainly due to higher average equity market levels and net new business Revenue: Servicing fees Servicing fees ($M) 2Q21 performance $1,272 $1,301 $1,307 $1,371 $1,399 1Q214Q202Q20 3Q20 2Q21 $2,937 $2,784 $2,917 $2,950 $3,034 YoY +3% QoQ +3% Total revenue +10% +7% ex-FX A AUC/A wins $162 $249 $205 $343 $1,187 1,037 486 436 463 1,236 AUC/A to be installed AUC/A sales performance indicators ($B) 1 • Servicing fees were positively impacted by currency translation when compared to 2Q20 by $39M Investment Services business momentum • Reigniting business growth: – Robust 2Q21 business wins reflecting mandates across segments and regions, and continued Alpha momentum – Particular strength in EMEA with solid onshore and offshore revenue wins and flows, as well as a strong pipeline in key strategic regions – Growth in Asset Managers, Asset Owners, and Alternatives client segments driven by flows, new mandates, and expanded relationships • Increasing assets to be installed: – New assets to be installed driven by large Alpha mandates, which are generally implemented in phases over a 12-24 month period A This is a non-GAAP presentation; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. Refer to the Appendix included with this presentation for endnotes 1 to 19. +2%

7 Revenue: Management fees Management fees ($M) 2Q21 performance $2,937 $2,784 $2,917 $2,950 $3,034 YoY +3% QoQ +3% Total revenue Management fees of $504M up 14% YoY and 2% QoQ; ex-FX, up 11% YoY A • Up 14% YoY primarily reflecting higher average equity market levels and net inflows from ETFs, partially offset by a previously reported idiosyncratic institutional client asset reallocation and money market fee waivers • Up 2% QoQ primarily reflecting higher average equity market levels and net inflows, partially offset by money market fee waivers • Generated strong annualized net new Management fee revenue, with record AUM of $3.9T in 2Q21 • Investment Management business pre-tax margin of 34.6% in 2Q21B +14% +11% ex-FX A AUM $3,054 $3,148 $3,467 $3,591 $3,897 23 (65) (21) 39 83Net flows Performance indicators ($B) 1 • Management fees were positively impacted by currency translation when compared to 2Q20 by $9M A This is a non-GAAP presentation; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. B Refer to the Addendum for line of business information. Refer to the Appendix included with this presentation for endnotes 1 to 19. +2% 2Q211Q212Q20 4Q20 $504 3Q20 $479 $444 $493 $493 Management fee business momentum Building on our leading ETF and Long-Term Institutional franchises • ETF: Continue to build on our strengths in SPY, Sectors, and GLD® to drive growth and greater market share – Global SPDR® AUM surpassed $1T with $21B in net flows in 2Q21 • Institutional: Focused sales execution in indexing, ESG, and multi-asset solutions to drive revenue growth – $55B of Long-Term Institutional net flows in 2Q21

8 Revenue: Markets, Software and processing fees Markets, Software & processing fees ($M) 2Q21 performance 245 172 204 174 216 92 84 88 99 109 325 270 324 346 286 2Q20 $526 1Q213Q20 4Q20 2Q21 $611$616 $662 $619 FX trading Securities finance Software & processing $2,937 $2,784 $2,917 $2,950 $3,034 Total revenue YoY +3% QoQ +3% -12% +18% -12% YoY % • FX trading services of $286M – Down (12)% YoY reflecting lower FX volatility, partially offset by higher client FX volumes – Down (17)% QoQ mainly due to lower FX volatility and client volumes • Securities finance of $109M – Up 18% YoY and 10% QoQ primarily driven by higher client balances, partially offset by lower spreads • Software and processing fees of $216M – Down (12)% YoY mainly reflecting the absence of prior year market- related adjustments – Up 24% QoQ primarily reflecting higher CRD revenues

9 57 57 59 60 64 26 22 20 27 27 63 20 36 17 63$115 $145 $154 2Q212Q20 $104 3Q20 4Q20 1Q21 $99 Professional services Software- enabled (including SaaS) 9 On-prem 9 CRD and Alpha mandates +6% 10% YoY growth CRD financial performance (Standalone basis, $M)A CRD 2Q21 highlights • 2Q21 revenue of $154MA – Up 6% YoY primarily due to higher software-enabled revenue – Up 48% QoQ largely driven by episodic fees and higher client renewals • Continued business momentum with strong quarterly bookings of $19M11 • Total number of SaaS clients increased ~10% YoY12 Alpha highlights • Reported 2 new Alpha clients in 2Q211 • 15 total Alpha clients signed since inception1 • 5 Alpha client mandates live as of the end of 2Q21 • Alpha mandate benefits: – Contract lengths up to 10 years for front and middle office services – Enterprise relationships with multi-product installations +48% Pre-tax income 10 $84 $37 $48 $37 $84 3 17 5 4 19 207 213 223 225 230 77 92 98 103 93 New bookings 11 ARR 3 Uninstalled revenue backlog A For 2Q21, CRD standalone results include revenue of $154M and pre-tax income of $84M, which includes $14M of revenue associated with affiliates, including SSGA, that is eliminated in consolidation for financial reporting purposes. On a consolidated basis, CRD revenue contributed $140M, including $136M in Software and processing fees and $3M in FX trading services; revenue line items may not sum to total due to rounding. Refer to the Appendix included with this presentation for endnotes 1 to 19.

10 0.93% 0.75% 0.71% Revenue: Net interest income NII and NIM ($M)13 Average balance sheet highlights ($B)A $467 2Q21 $467 $559 2Q20 1Q21 Total average assets of $308B up 8% YoY and 4% QoQ • Up 8% YoY and 4% QoQ largely driven by higher total average deposits, which remain elevated due to U.S. monetary policy, partially offset by the absence of MMLF balances A Line items are rounded. B Average MMLF balances contributed ~$13M to the average investment portfolio in 2Q21. Refer to the Appendix included with this presentation for endnotes 1 to 19. -16% NIM 13 (FTE, %) $2,937 $2,950 $3,034 Total revenue NII of $467M down (16)% YoY and flat QoQ • Down (16)% YoY primarily due to lower investment portfolio yields and a decline in average short-end market rates, partially offset by growth in deposits, the investment portfolio size and loan balances • Flat QoQ as growth in the investment portfolio size and loan balances offset lower investment portfolio yields and a decline in average short-end market rates 2Q20 1Q21 2Q21 Total assets $285 $296 $308 Interest-earning assets 245 255 266 Loans 27 28 29 Investment portfolio (ex. MMLF) B 98 107 111 HTM % (ex. MMLF) 41% 44% 41% Duration 14 2.4 3.1 3.1 Total deposits $197 $226 $242 YoY +3% QoQ +3% Flat

11 Expenses Expenses (Ex-notable items, non-GAAP, $M) A 2Q21 performance (Ex-notable items, non-GAAP)A $2,082 $2,332 $2,111 39,068 39,318 39,146 GAAP Expense Head- count $301 $279 $273 $233 $262 $263 $376 $401 $398 $1,051 $1,242 $1,077 $2,293 2Q20 1Q21 2Q21 $2,070 $2,111 -8% +2% -0.4% ex-FX A A This is a non-GAAP presentation; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. B 1Q21 includes $176M of seasonal expenses. C Total expenses presented excludes notable items and currency translation. This is a non-GAAP presentation; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. Refer to the Appendix included with this presentation for endnotes 1 to 19. Comp. & benefitsB Info. sys. Tran. processing Other 15 Occupancy • Total GAAP expenses were adversely impacted by currency translation when compared to 2Q20 by $49M • Headcount relatively flat YoY and QoQ Expenses of $2,111M up 2% YoY and down (8)% QoQ; ex-FX, down (0.4)% YoY A • Compensation and employee benefits of $1,077M – Up 2% YoY (flat ex-FX) primarily driven by higher medical and pension costs, as well as contractor spend, partially offset by lower headcount in high cost locations – Down (13)% QoQ mainly due to the absence of seasonal expensesB • Information systems and communications of $398M16 – Up 6% YoY (5% ex-FX) mainly reflecting higher technology and infrastructure investments; down (1)% QoQ • Transaction processing services of $263M16 – Up 13% YoY (10% ex-FX) primarily due to higher revenue-related costs in sub-custody and market data; flat QoQ • Occupancy of $100M – Down (8)% YoY ((13)% ex-FX) due to footprint optimization – Down (8)% QoQ reflecting a temporary reduction in maintenance costs • Other of $273M16 – Down (9)% YoY ((11)% ex-FX) largely driven by lower professional fees; down (2)% QoQ $100$109$109 YoY +1% QoQ -9% Productivity savings more than offset higher revenue-related expenses and planned investments C

12 Capital ratios Capital ratios 4 (%, as of period-end) Capital highlights Capital ($B, capital metrics as of period-end) 2Q20 1Q21 2Q21 Standardized CET1 CET1 capital $13.2 $13.4 $13.7 Risk weighted assets 106.8 124.3 121.9 Tier 1 leverage Tier 1 capital 15.6 15.4 15.7 Leverage exposure 19 256.4 285.5 298.7 Refer to the Appendix included with this presentation for endnotes 1 to 19. CET1 (Standardized) Tier 1 Leverage SCB 18 Minimum ratio 12.3% 10.8% 4.5% 2.5% 1Q21 11.2% 2Q20 2Q21 8.0% 1.0% Target state 10-11% G-SIB surcharge 17 6.1% 5.4% 2Q20 2Q211Q21 5.2% Target state Minimum ratio4.0% STT Target5.25-5.75% STT Target • 2Q21 standardized CET1 ratio of 11.2% increased 0.4%pts QoQ primarily reflecting lower risk-weighted assets • 2Q21 Tier 1 leverage ratio of 5.2% decreased (0.2)%pts QoQ mainly driven by higher client deposits • Preliminary SCB calculated under this year’s supervisory stress test was well below the 2.5% minimum, resulting in an SCB at that floor; G-SIB surcharge at 1% through 2023 • Capital return: – Returned more than $600M to shareholders in 2Q21, consisting of $425M of common share repurchases and $181M in common stock dividends – In July 2021, announced a 10% increase to 3Q21 quarterly common stock dividend to $0.57 per share, and a common stock repurchase program of up to $3B through year end 2022 5

13 Summary 2Q21 financial review • EPS of $2.07, up 11%; pre-tax margin of 30.9%, up 3.6%pts; ROE of 12.6% • EPS ex-notable items of $1.97, up 5%A – Fee revenue of $2.5B, up 6% (4% ex-currency translationA), primarily driven by strong servicing and management fee growth of 10% and 14%, respectively, and higher securities finance revenue, partially offset by lower FX trading revenue and software and processing fees – NII of $0.5B, down (16)%, largely reflecting lower global interest rates; NII flat QoQ – Expenses ex-notable items of $2.1B, up 2%; down (0.4)% ex-notable items and currency translation, as productivity savings and footprint optimization more than offset higher revenue related expenses including transaction processing and information systems investmentsA • Business momentum:1 – Strong sales momentum in Investment Servicing and Alpha mandates, with $1.2T of servicing wins – 2 new Alpha clients in 2Q21; 15 total Alpha clients signed since inception; 5 Alpha client mandates live as of the end of 2Q21 – Quarterly net inflows of $83B in Global Advisors, with record AUM of $3.9T in 2Q21 • Capital return: – Returned more than $600M to shareholders in 2Q21, consisting of $425M of common share repurchases and $181M in common stock dividends – In July 2021, announced a 10% increase to 3Q21 quarterly common stock dividend to $0.57 per share, and a common stock repurchase program of up to $3B through year end 2022 5 A Financial metrics ex-notable items/currency translation are non-GAAP measures; refer to the Appendix for explanations and reconciliations of our non-GAAP measures. Refer to the Appendix included with this presentation for endnotes 1 to 19. All comparisons are to corresponding prior year periods unless noted otherwise

14 Appendix 2Q21 line of business performance 15 Reconciliation of notable items 16 Reconciliation of constant currency impacts 17 Endnotes 18 Forward-looking statements 19 Non-GAAP measures 20 Definitions 21

15 $2,937M 1,984 State StreetA 2Q21 line of business performance Investment Servicing Total revenue 571 468 1,901 2Q20 2Q21 $2,452M$2,472M Pre-tax income Fee revenue NII Pre-tax margin 28.4% 29.0% +0.6%pts $712M 2Q20 2Q21 $703M YoY % ∆ +4.4% -18.0% -0.8% +1.3% Investment Management Total revenue 2Q20 2Q21 $465M $529M Pre-tax income Pre-tax margin 24.1% 34.6% +10.5%pts 2Q20 2Q21 $112M $183M YoY % ∆ +13.8% +63.4% Total revenue ex-notable itemsB 559 467 2,378 2,514 2Q20 2Q21 $2,981M Pre-tax income ex-notable itemsB Fee revenue NII Pre-tax margin ex-notable itemsB 27.7% 29.7% +2.0%pts 2Q20 $885M $815M 2Q21 YoY % ∆ +5.7% -16.5% +1.5% +8.6% A State Street includes line of business results from Investment Servicing, Investment Management, and Other. Refer to the Addendum for further line of business information. B This is a non-GAAP presentation; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures.

16 Reconciliation of notable items A Calculated as the period-over-period change in total revenue less the period-over-period change in total expenses. B Calculated as the period-over-period change in total revenue, excluding notable items less the period-over-period change in total expenses, excluding notable items. Quarterly reconciliation (Dollars in millions, unless noted otherwise) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 2020 2021 Total revenue, GAAP-basis 3,065 2,937 2,784 2,917 2,950 3,034 # 6,002 5,984 Less: Other income (53) 0 (53) Total revenue, excluding notable items 3,065 2,937 2,784 2,917 2,950 2,981 # 6,002 5,931 Total expenses, GAAP basis 2,255 2,082 2,103 2,276 2,332 2,111 # 4,337 4,443 Less: Notable expense items: Repositioning charges: 0 Compensation and employee benefits (82) # 0 0 Occupancy (51) # 0 0 Repositioning charges (133) # 0 00 Acquisition and restructuring costs (11) (12) (15) (12) (10) (11) 0 (23) (21) Legal and other: Information systems and communications (20) 0 (20) Transaction processing services (8) 0 (8) Other 9 (1) 11 0 10 Legal and other 9 (29) 11 0 0 (18) Total expenses, excluding notable items 2,244 2,070 2,097 2,131 2,293 2,111 # 4,314 4,404 Seasonal expenses (151) (176) (151) (176) Total expenses, excluding notable items and seasonal expense items 2,093 2,070 2,097 2,131 2,117 2,111 4,163 4,228 Operating leverage, GAAP-basis (%pts)A 190 bps 1,230 bps bps (270) bps Operating leverage, excluding notable items (%pts)B (50) 900 (330) Pre-tax margin, GAAP-basis (%) 25.3% 27.3% 24.5% 22.0% 21.3% 30.9% 360 960 26.3% 26.2% (10) Notable items as reconciled above (%) 0.3% 0.4% 0.2% 4.9% 1.3% (1.2%) 0.4% - Pre-tax margin, excluding notable items (%) 25.6% 27.7% 24.7% 26.9% 22.6% 29.7% 200 710 26.7% 26.2% (50) Net income available to common shareholders, GAAP-basis 580 662 517 498 489 728 1,242 1,217 (2.0)% Notable items as reconciled above: pre-tax 11 12 6 145 39 (53) 23 (14) Tax impact on notable items as reconciled above (3) (3) (4) (37) (10) 16 (6) 6 Preferred securities cost 9 5 9 5 Net income available to common shareholders, excluding notable items 597 671 519 606 523 691 1,268 1,214 (4.3)% Diluted EPS, GAAP-basis 1.62 1.86 1.45 1.39 1.37 2.07 3.48 3.44 (1.1)% Notable items as reconciled above 0.05 0.02 0.00 0.30 0.10 (0.10) 0.07 (0.01) Diluted EPS, excluding notable items 1.67 1.88 1.45 1.69 1.47 1.97 3.55 3.43 (3.4)% 2.1% 1.6% % Change YTD2021 vs. YTD2020 (0.3)% (1.2)% 2.4% 3.0% 32.1% 51.1%11.3% 4.8% 34.0% 2.0% (7.9)% (0.3)%2.0% 10.0% 48.9% 3.3% 1.5% 1.4% 2.8% 1.1% (9.5)% Year-to-Date 2Q21 vs. 2Q20 2Q21 vs. 1Q21 % Change

17 Reconciliation of constant currency impacts Reconciliation of Constant Currency FX Impacts (Dollars in millions) 2Q20 1Q21 2Q21 2Q21 vs. 2Q20 2Q21 vs. 1Q21 2Q21 vs. 2Q20 2Q21 vs. 1Q21 2Q21 vs. 2Q20 2Q21 vs. 1Q21 Non-GAAP basis Total revenue, excluding notable items $ 2,937 $ 2,950 $ 2,981 $ 64 $ 2 $ 2,917 $ 2,979 (0.7)% 1.0% Compensation and employee benefits, excluding notable items $ 1,051 $ 1,242 $ 1,077 $ 30 $ 1 $ 1,047 $ 1,076 (0.4)% (13.4)% Information systems and communications, excluding notable items 376 401 398 3 - 395 398 5.1% (0.7)% Transaction processing services, excluding notable items 233 262 263 6 - 257 263 10.3% 0.4% Occupancy, excluding notable items 109 109 100 5 - 95 100 (12.8)% (8.3)% Other expenses, excluding notable items 301 279 273 5 1 268 272 (11.0)% (2.5)% Total expenses excluding notable items $ 2,070 $ 2,293 $ 2,111 $ 49 $ 2 $ 2,062 $ 2,109 (0.4)% (8.0)% Reported Currency Translation Impact % Change Constant Currency Excluding Currency Impact

18 Endnotes 1. New asset servicing mandates, including announced front-to-back investment servicing clients, may be subject to completion of definitive agreements, approval of applicable boards and shareholders and customary regulatory approvals. New asset servicing mandates and servicing assets remaining to be installed in future periods exclude new business which has been contracted, but for which the client has not yet provided permission to publicly disclose and is not yet installed. These excluded assets, which from time to time may be significant, will be included in new asset servicing mandates and reflected in servicing assets remaining to be installed in the period in which the client provides its permission. Servicing mandates and servicing assets remaining to be installed in future periods are presented on a gross basis and therefore also do not include the impact of clients who have notified us during the period of their intent to terminate or reduce their relationship with State Street, which from time to time may be significant. New business in assets to be serviced is reflected in our AUC/A after we begin servicing the assets, and new business in assets to be managed is reflected in our AUM after we begin managing the assets. As such, only a portion of any new asset servicing and asset management mandates may be reflected in our AUC/A and AUM as of any particular date specified. Generally, our servicing fee revenues are affected by several factors including changes in market valuations, client activity and asset flows, net new business and the manner in which we price our services. We provide a range of services to our clients, including core custody services, accounting, reporting and administration and middle office services, and the nature and mix of services provided affects our servicing fees. The basis for fees will differ across regions and clients. The industry in which we operate has historically faced pricing pressure, and our servicing fee revenues are also affected by such pressures today. Consequently, no assumption should be drawn as to future revenue run rate from announced servicing wins or new servicing business yet to be installed, as the amount of revenue associated with AUC/A can vary materially. Management fees generally are affected by our level of AUM and differ based upon the nature, type and investment strategy of the investment product. Management fee revenue is more sensitive to market valuations than servicing fee revenue, as a higher proportion of the underlying services provided, and the associated management fees earned, are dependent on equity and fixed-income security valuations. Additional factors, such as the relative mix of assets managed, may have a significant effect on our management fee revenue. While certain management fees are directly determined by the values of AUM and the investment strategies employed, management fees may reflect other factors, including performance fee arrangements, as well as our relationship pricing for clients. 2. Alpha recognized as Front-to-Back Partnership of the year for Global Custodian’s Leaders in Custody Awards. 3. CRD ARR, an operating metric, is calculated by annualizing current quarter revenue and includes annualized amount of most sof tware-enabled revenue, including revenue generated from Software-as-a-service, maintenance and support revenue, revenue from the Charles River Network’s FIX Network Service (CRN), and value-added services, which are all expected to be recognized ratably over the term of client contracts. ARR excludes software-enabled brokerage revenue. ARR of $207M, $225M and $230M in 2Q20, 1Q21 and 2Q21, respectively, include annualized intercompany revenue of $17M, $20M and $21M, respectively. 4. Unless otherwise noted, all capital ratios referenced on this slide and elsewhere in this presentation refer to State Street Corporation, or State Street, and not State Street Bank and Trust Company, or State Street Bank. All capital ratios are as of quarter end. The lower of capital ratios calculated under the Basel III advanced approaches and under the Basel III standardized approach are applied in the assessment of our capital adequacy for regulatory purposes. Standardized approach ratios were binding for 2Q21, 1Q21 and 2Q20. Refer to the Addendum included with description of these ratios. June 30, 2021 capital ratios are presented as of quarter-end and are estimates. 5. State Street’s $3 billion common stock repurchase authorization covers through year end 2022. Stock purchases may be made using various types of transactions, including open-market purchases, accelerated share repurchases or other transactions off the market, and may be made under Rule 10b5-1 trading programs. The timing and amount of any stock purchases and the type of transaction will depend on several factors, including investment opportunities, State Street’s capital position, its financial performance, market conditions and the amount of common stock issued as part of employee compensation programs. The common stock purchase program does not have specific price targets and may be suspended at any time. 6. In accordance with ASU 2016-13, the Provision for credit losses for 2Q20, 1Q21, and 2Q21 includes the provision on funded and unfunded commitments as well as HTM securities. 7. The index names listed are service marks of their respective owners. 8. Morningstar data includes long-term mutual funds, ETF’s and Money Market funds. Mutual fund data represents estimates of net new cash flow, which is new sales minus redemptions combined with net exchanges, while ETF data represents net issuance, which is gross issuance less gross redemptions. Data for Fund of Funds, Feeder funds and Obsolete funds were excluded from the series to prevent double counting. Data is from the Morningstar Direct Asset Flows database. The long-term fund flows reported by Morningstar in North America are composed of U.S. domiciled Market flows mainly in Equities, Allocation and Fixed Income asset classes. 2Q21 data for North America (U.S. domiciled) includes Morningstar actuals for April and May 2021 and Morningstar estimates for June 2021. 2Q21 data for EMEA is on a rolling three month basis for March 2020 through May 2021. 9. On-prem revenue is revenue derived from locally installed software. Software-enabled revenue includes software as a service, maintenance and support revenue, FIX, brokerage, and value-add services. Revenue recognition pattern for on-prem installations differs from software-enabled revenue. 10. Revenue and pre-tax income reflects the application of ASC 606. Revenue recognition under ASC 606 results in the acceleration of a significant portion of revenues for on-prem software agreements when a client goes live or renews their contract with us. The amount of revenue recognized in any given quarter will be driven in large part by client activity, including agreements that renew or are installed in that quarter. 11. CRD bookings, as presented in this presentation, represent signed annual recurring revenue contract value excluding bookings with affiliates, including SSGA. CRD revenue derived from affiliate agreements is eliminated in consolidation for financial reporting purposes. 12. Total number of SaaS clients comparison based on the number of SaaS clients at June 30, 2021 as compared to June 30, 2020. 13. NII is presented on a GAAP-basis. NIM is presented on an FTE-basis. Refer to the Addendum for reconciliations of NII FTE-basis to NII GAAP-basis on the Average Statement of Condition. 14. Duration as of period end and based on total investment portfolio, including MMLF. 15. Other includes Other expenses and Amortization of intangible assets. 16. Information systems and communications expenses in 1Q21 included a notable item from legal and other costs of $20M. Excluding this notable item, 2Q21 Information systems and communications of $398M was down (1)% compared to 1Q21 adjusted Information systems and communications of $401M. Transaction processing services expenses in 1Q21 included a notable item from legal and other costs of $8M. Excluding this notable item, 2Q21 Transaction processing services of $263M was flat compared to 1Q21 adjusted Transaction processing services of $262M. Other expenses in 2Q21, 1Q21 and 2Q20 included notable items related to acquisition and restructuring costs of $11M, $10M, and $12M, respectively. Other expenses in 2Q21 also included a notable item from legal and other benefits of $11M. Other expenses in 1Q21 also included a notable item from legal and other costs of $1M. Excluding all these notable items, 2Q21 adjusted Other expenses of $273M was down (9)% compared to 2Q20 adjusted Other expenses of $301M and down (2)% compared to 1Q21 adjusted Other expenses of $279M. 17. Based on a calculation date of December 31, 2019, our G-SIB surcharge for 2021 is 1.0%. 18. The preliminary SCB of 2.5% effective on October 1, 2021 is calculated based upon the results of the CCAR 2021 exam. 19. Leverage exposure is equal to average consolidated assets less applicable Tier 1 leverage capital reductions.

19 Forward-looking statements This presentation (and the conference call referenced herein) contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our business, financial and capital condition, results of operations, strategies, the financial and market outlook, dividend and stock purchase programs, governmental and regulatory initiatives and developments, expense reduction programs, new client business, and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “guidance,” “expect,” “priority,” “objective,” “intend,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” “strategy” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing our expectations or beliefs as of any time subsequent to the time this presentation is first issued. Important factors that may affect future results and outcomes include, but are not limited to: We are subject to intense competition, which could negatively affect our profitability; We are subject to significant pricing pressure and variability in our financial results and our AUC/A and AUM; Our development and completion of new products and services, including State Street Alpha, and our enhancement of the capabilities of our existing products and services in light of changed client needs and competitive pressures, may involve costs and dependencies and expose us to increased risk; Our business may be negatively affected by our failure to update and maintain our technology infrastructure; The COVID-19 pandemic continues to create and exacerbate significant risks and uncertainties for our business; Acquisitions, strategic alliances, joint ventures and divestitures, and the integration, retention and development of the benefits of our acquisitions, pose risks for our business; Competition for qualified members of our workforce is intense, and we may not be able to attract and retain the highly skilled people we need to support our business; We could be adversely affected by geopolitical, economic and market conditions; We have significant International operations, and disruptions in European and Asian economies could have an adverse effect on our consolidated results of operations or financial condition; Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets; Our business activities expose us to interest rate risk; We assume significant credit risk to counterparties, who may also have substantial financial dependencies with other financial institutions, and these credit exposures and concentrations could expose us to financial loss; Our fee revenue represents a significant portion of our consolidated revenue and is subject to decline based on, among other factors, the investment activities of our clients; If we are unable to effectively manage our capital and liquidity, our consolidated financial condition, capital ratios, results of operations and business prospects could be adversely affected; We may need to raise additional capital or debt in the future, which may not be available to us or may only be available on unfavorable terms; If we experience a downgrade in our credit ratings, or an actual or perceived reduction in our financial strength, our borrowing and capital costs, liquidity and reputation could be adversely affected; Our business and capital-related activities, including common share repurchases, may be adversely affected by capital and liquidity standards required as a result of capital stress testing; We face extensive and changing government regulation in the jurisdictions in which we operate, which may increase our costs and compliance risks; We are subject to enhanced external oversight as a result of the resolution of prior regulatory or governmental matters; Our businesses may be adversely affected by government enforcement and litigation; Any misappropriation of the confidential information we possess could have an adverse impact on our business and could subject us to regulatory actions, litigation and other adverse effects; Our calculations of risk exposures, total RWA and capital ratios depend on data inputs, formulae, models, correlations and assumptions that are subject to change, which could materially impact our risk exposures, our total RWA and our capital ratios from period to period; Changes in accounting standards may adversely affect our consolidated financial statements; Changes in tax laws, rules or regulations, challenges to our tax positions and changes in the composition of our pre-tax earnings may increase our effective tax rate; The transition away from LIBOR may result in additional costs and increased risk exposure; Our control environment may be inadequate, fail or be circumvented, and operational risks could adversely affect our consolidated results of operations; Cost shifting to non-U.S. jurisdictions and outsourcing may expose us to increased operational risk and reputational harm and may not result in expected cost savings; Attacks or unauthorized access to our information technology systems or facilities, or those of the third parties with which we do business, or disruptions to our or their continuous operations, could result in significant costs, reputational damage and limits on our business activities; Long-term contracts expose us to pricing and performance risk; Our businesses may be negatively affected by adverse publicity or other reputational harm; We may not be able to protect our intellectual property; The quantitative models we use to manage our business may contain errors that could result in material harm; Our reputation and business prospects may be damaged if our clients incur substantial losses or are restricted in redeeming their interests in investment pools that we sponsor or manage; The impacts of climate change could adversely affect our business operations; and We may incur losses as a result of unforeseen events including terrorist attacks, natural disasters, the emergence of a new pandemic or acts of embezzlement. Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2020 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this presentation should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this presentation is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.

20 Non-GAAP measures In addition to presenting State Street's financial results in conformity with U.S. generally accepted accounting principles, or GAAP, management also presents certain financial information on a basis that excludes or adjusts one or more items from GAAP. This latter basis is a non-GAAP presentation. In general, our non- GAAP financial results adjust selected GAAP-basis financial results to exclude the impact of revenue and expenses outside of State Street’s normal course of business or other notable items, such as acquisition and restructuring charges, repositioning charges, gains/losses on sales, as well as, for selected comparisons, seasonal items. For example, we sometimes present expenses on a basis we may refer to as “expenses ex-notable items", which exclude notable items and, to provide additional perspective on both prior year quarter and sequential quarter comparisons, may also exclude seasonal items. Management believes that this presentation of financial information facilitates an investor's further understanding and analysis of State Street's financial performance and trends with respect to State Street’s business operations from period-to-period, including providing additional insight into our underlying margin and profitability. In addition, Management may also provide additional non-GAAP measures. For example, we may present revenue and expense measures on a constant currency basis to identify the significance of changes in foreign currency exchange rates (which often are variable) in period-to-period comparisons. This presentation represents the effects of applying prior period weighted average foreign currency exchange rates to current period results. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in conformity with GAAP. Refer to the Addendum for reconciliations of our non-GAAP financial information. To access the Addendum go to http://investors.statestreet.com and click on “Filings & Reports – Quarterly Earnings”.

21 Definitions ARR Annual recurring revenue AUC/A Assets under custody and/or administration AUM Assets under management Barclays Global Agg Barclays Global Agg represents Barclays Global Aggregate Bond Index Bps Basis points, with one basis point representing one hundredth of one percent CET1 ratio Common equity tier 1 ratio CRD Charles River Development CRD uninstalled revenue backlog Uninstalled revenue backlog to be recognized from signed client contracts that are scheduled to be installed on a rolling 24-month period. It reflects terms currently in effect. It includes SaaS and on-prem license revenue, as well as maintenance and support revenue, and excludes revenue generated from FIX, value-add services, brokerage, and professional services. Diluted earnings per share (EPS) Net income available to common shareholders divided by diluted average common shares outstanding for the noted period EM Emerging markets EMEA Europe, Middle East and Africa EOP End of period EPS Earnings per share ESG Environmental, Social, and Governance ETF Exchange-traded fund FTE Fully taxable equivalent FX Foreign exchange GAAP Generally accepted accounting principles in the United States GLD® SPDR® Gold Shares ETF G-SIB Global systemically important bank HTM Held-to-maturity MMLF Money Market Mutual Fund Liquidity Facility Net interest income (NII) Income earned on interest bearing assets less interest paid on interest bearing liabilities Net interest margin (NIM) Net interest income divided by average interest-earning assets nm Not meaningful On-prem On-premises revenue as recognized in the CRD business Operating leverage Rate of growth of total revenue less the rate of growth of total expenses, relative to the successive prior year period, as applicable Pre-tax margin Income before income tax expense divided by total revenue %Pts Percentage points is the difference from one percentage value subtracted from another Quarter-over-quarter (QoQ) Sequential quarter comparison Return on equity (ROE) Net income less dividends on preferred stock divided by average common equity SaaS Software as a service SCB Stress capital buffer Seasonal expenses Seasonal deferred incentive compensation expenses for retirement-eligible employees and payroll taxes SPY SPDR® S&P 500® ETF Trust SSGA State Street Global Advisors Year-over-year (YoY) Current period compared to the same period a year ago

Cover page Entities	Jul. 16, 2021
Cover [Abstract]
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Registrant Name	State Street Corp
City Area Code	(617)
Entity Address, Address Line One	One Lincoln Street
Entity Central Index Key	0000093751
Document Type	8-K
Entity Incorporation, State or Country Code	MA
Document Period End Date	Jul. 16, 2021
Soliciting Material	false
Written Communications	false
Entity File Number	001-07511
Entity Tax Identification Number	04-2456637
Entity Address, City or Town	Boston
Pre-commencement Tender Offer	false
Entity Address, State or Province	MA
Local Phone Number	786-3000
Entity Address, Postal Zip Code	02111
Pre-commencement Issuer Tender Offer	false

Cover page Entities

Jul. 16, 2021

Cover [Abstract]

Entity Emerging Growth Company

false

Amendment Flag

false

Entity Registrant Name

State Street Corp

City Area Code

(617)

Entity Address, Address Line One

One Lincoln Street

Entity Central Index Key

0000093751

Document Type

8-K

Entity Incorporation, State or Country Code

Document Period End Date

Jul. 16, 2021

Soliciting Material

false

Written Communications

false

Entity File Number

001-07511

Entity Tax Identification Number

04-2456637

Entity Address, City or Town

Boston

Pre-commencement Tender Offer

false

Entity Address, State or Province

Local Phone Number

786-3000

Entity Address, Postal Zip Code

02111

Pre-commencement Issuer Tender Offer

false

Cover page Entity listing

Jul. 16, 2021

Series G Preferred Stock, Depository Share [Member]

Class of Stock [Line Items]

Title of 12(b) Security

Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par value per share

Trading Symbol

STT.PRG

Security Exchange Name

NYSE

Series D Preferred Stock, Depository Share [Member]

Class of Stock [Line Items]

Title of 12(b) Security

Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, without par value per share

Trading Symbol

STT.PRD

Security Exchange Name

NYSE

Common Stock [Member]

Class of Stock [Line Items]

Title of 12(b) Security

Common stock, $1 par value per share

Trading Symbol

STT

Security Exchange Name

NYSE


	Exhibit No.	Description
	99.1	State Street's news release dated July 16 , 2021, announcing its second -quarter 2021 results of operations (this Exhibit 99.1 is furnished, not filed)
	99.2	State Street's se cond -quarter 2021 financial information addendum (this Exhibit 99.2 is furnished, not filed)
	99.3	Slide presentation providing highlights of State Street's second-quarter 2021 results of operations and related information as of June 30, 2021 (this Exhibit 99.3 is furnished, not filed)
*	104	Cover Page Interactive Data File (formatted as Inline XBRL)


(Dollars in billions, except market indices and foreign exchange rates)	2Q21		1Q21		2Q20		% QoQ	% YoY

Assets under Custody and/or Administration (AUC/A)(1) (2)	$	42,597	$	40,263	$	33,515	5.8	27.1
Assets under Management (AUM)(2)	3,897		3,591		3,054		8.5	27.6

Market Indices:(3)
S&P 500 daily average	4,184		3,866		2,932		8.2	42.7
S&P 500 EOP	4,298		3,973		3,100		8.2	38.6
MSCI EAFE daily average	2,307		2,201		1,681		4.8	37.2
MSCI EAFE EOP	2,305		2,208		1,781		4.4	29.4
MSCI Emerging Markets daily average	1,351		1,363		930		(0.9)	45.3
MSCI Emerging Markets EOP	1,375		1,316		995		4.5	38.2
Barclays Capital Global Aggregate Bond Index EOP	541		534		527		1.3	2.7

Foreign Exchange Volatility Indices:(3)
JPM G7 Volatility Index daily average	6.3		6.8		8.2		(7.4)	(23.2)
JPM Emerging Market Volatility Index daily average	9.4		10.4		11.1		(9.6)	(15.3)

Average Foreign Exchange Rate:
EUR vs. USD	1.205		1.205		1.101		—	9.4
GBP vs. USD	1.398		1.379		1.242		1.4	12.6


(Dollars in billions)	2Q21		1Q21		2Q20		% QoQ		% YoY
Assets Under Custody and/or Administration(1)
By Product Classification(2):
Mutual funds	$	10,873	$	10,439	$	8,265	4.2	%	31.6	%
Collective funds, including ETFs	15,048		14,052		11,230		7.1		34.0
Pension products	8,291		7,843		6,689		5.7		23.9
Insurance and other products	8,385		7,929		7,331		5.8		14.4
Total Assets Under Custody and/or Administration	$	42,597	$	40,263	$	33,515	5.8	%	27.1	%
By Financial Instrument:
Equities	$	24,792	$	22,825	$	18,190	8.6	%	36.3	%
Fixed-income	13,079		13,022		11,342		0.4		15.3
Short-term and other investments	4,726		4,416		3,983		7.0		18.7
Total Assets Under Custody and/or Administration	$	42,597	$	40,263	$	33,515	5.8	%	27.1	%


(Dollars in billions)	Equity		Fixed- Income		Cash		Multi-Asset Class Solutions		Alternative Investments(1)		Total
Beginning balance as of March 31, 2021(1)	$	2,282	$	554	$	372	$	189	$	194	$	3,591
Net asset flows:
Long-term institutional(2)	13		37		—		7		(2)		55
ETF	15		5		—		—		1		21
Cash fund	—		—		7		—		—		7
Total flows, net	$	28	$	42	$	7	$	7	$	(1)	$	83
Market appreciation/(depreciation)	152		14		2		11		45		224
Foreign exchange impact	(1)		—		—		—		—		(1)
Total market/foreign exchange impact	$	151	$	14	$	2	$	11	$	45	$	223

Ending balance as of June 30, 2021	$	2,461	$	610	$	381	$	207	$	238	$	3,897


(As of period end)	2Q21		1Q21		2Q20
Basel III Standardized Approach:
Common Equity Tier 1 ratio	11.2	%	10.8	%	12.3	%
Tier 1 capital ratio	12.9		12.4		14.6
Total capital ratio	14.3		14.0		15.7

Basel III Advanced Approaches:
Common Equity Tier 1 ratio	11.8		11.9		12.7
Tier 1 capital ratio	13.5		13.6		15.1
Total capital ratio	14.8		15.2		16.0

Tier 1 leverage ratio	5.2		5.4		6.1
Supplementary leverage ratio	6.7		7.2		8.3

Liquidity coverage ratio	104	%	107	%	109	%


Registrant’s telephone number, including area code:			(617)			786-3000


						Exhibit 99.1 State Street Corporation One Lincoln Street Boston, MA 02111 NYSE: STT www.statestreet.com


STATE STREET REPORTS SECOND QUARTER 2021 EPS OF $2.07; $1.97 EXCLUDING NOTABLE ITEMS(a)
% changes noted below reflect year-over-year 2Q comparisons


Ron O'Hanley, Chairman and Chief Executive Officer: "Our second quarter results reflect the successful execution of our strategic priorities. We delivered record fee revenue with continued expense discipline, driving considerable pre-tax margin expansion and earnings growth in the second quarter thus demonstrating meaningful progress toward our medium-term targets. Our innovative client solutions and operational capabilities are yielding benefits across the franchise, as evidenced by another quarter of robust servicing mandates, including State Street AlphaSM, as well as a strong performance at Global Advisors." O'Hanley added: "The results of the recent supervisory stress test is yet another testament to the strength and resiliency of our business model. Starting in the third quarter, we have announced an increase to our common stock dividend by 10% to $0.57 per share and our Board has authorized a common share repurchase program of up to $3 billion through 2022."


(Table presents summary results, dollars in millions, except per share amounts, or where otherwise noted)	2Q21			1Q21			2Q20			% QoQ			% YoY
Income statement:
Total fee revenue	$	2,514		$	2,483		$	2,378		1	%		6	%
Net interest income	467			467			559			—			(16)
Other income	53			—			—			nm			nm
Total revenue	3,034			2,950			2,937			3			3
Provision for credit losses	(15)			(9)			52			nm			nm
Total expenses	2,111			2,332			2,082			(9)			1
Net income	763			519			694			47			10

Financial ratios and other metrics:
Diluted earnings per share (EPS)	$	2.07		$	1.37		$	1.86		51	%		11	%
Return on average common equity (ROE)	12.6		%	8.4		%	12.1		%	420		bps	50		bps
Pre-tax margin	30.9			21.3			27.3			960			360
AUC/A ($ billions)(1)	42,597			40,263			33,515			6	%		27	%
AUM ($ billions)(1)	3,897			3,591			3,054			9			28


(Dollars in millions, except EPS amounts)	Quarters
	2Q21		1Q21		2Q20






Other income(a)	53		—		—
Acquisition and restructuring costs	(11)		(10)		(12)
Legal and other costs(b)	11		(29)		—
Notable items (pre-tax)	$	53	$	(39)	$	(12)

Preferred securities redemption (after-tax)(c)	—		(5)		—

EPS impact	$	0.10	$	(0.10)	$	(0.02)


(Dollars in millions)	2Q21			1Q21			2Q20			% QoQ			% YoY
Servicing fees	$	1,399		$	1,371		$	1,272		2.0	%		10.0	%
Management fees(a)	504			493			444			2.2			13.5
Foreign exchange trading services(a)	286			346			325			(17.3)			(12.0)
Securities finance revenue	109			99			92			10.1			18.5
Software and processing fees	216			174			245			24.1			(11.8)
Total fee revenue	$	2,514		$	2,483		$	2,378		1.2	%		5.7	%

Net interest income	467			467			559			—			(16.5)
Other income	53			—			—			nm			nm
Total Revenue	$	3,034		$	2,950		$	2,937		2.8	%		3.3	%

Net interest margin (FTE)(b)	0.71		%	0.75		%	0.93		%	(4)		bps	(22)		bps



STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
June 30, 2021


Table of Contents

GAAP-Basis Financial Information:
4-Year Summary of Results			2
Consolidated Financial Highlights			3
Consolidated Results of Operations			4
Consolidated Statement of Condition			6
Average Statement of Condition - Rates Earned and Paid - Fully Taxable-Equivalent Basis			7
Average Statement of Condition - Rates Earned and Paid - Fully Taxable-Equivalent Basis - Year-to-Date			8
Investment Portfolio Holdings by Asset Class			9
Investment Portfolio Non-U.S. Investments			11
Assets Under Custody and/or Administration			12
Assets Under Management			13
Industry Flow Data by Asset Class			14
Line of Business Information			15
Allowance for Credit Losses			16

Non-GAAP Financial Information:
Reconciliations of Non-GAAP Financial Information			17
Reconciliation of Pre-tax Margin Excluding Notable Items			19
Reconciliation of Notable Items			20
Reconciliations of Constant Currency FX Impacts			21

Capital:
Reconciliation of Tangible Common Equity Ratio			22
Regulatory Capital			23
Reconciliations of Supplementary Leverage Ratios			24

This financial information should be read in conjunction with State Street's news release dated July 16, 2021.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
CONSOLIDATED RESULTS OF OPERATIONS (Continued)

	Quarters																			% Change						Year-to-Date						% Change
(Dollars in millions, except per share amounts, or where otherwise noted)		1Q20			2Q20			3Q20			4Q20			1Q21			2Q21			2Q21 vs. 2Q20			2Q21 vs. 1Q21			2020			2021			YTD2021 vs. YTD2020
Adjustments to net income:
Dividends on preferred stock(2)(3)		$	(53)		$	(32)		$	(38)		$	(39)		$	(30)		$	(34)		6.3	%		13.3	%		$	(85)		$	(64)		(24.7)	%
Earnings allocated to participating securities		(1)			—			—			—			—			(1)			nm			nm			(1)			(1)			—
Net income available to common shareholders		$	580		$	662		$	517		$	498		$	489		$	728		10.0			48.9			$	1,242		$	1,217		(2.0)

Per common share:
Basic earnings		$	1.64		$	1.88		$	1.47		$	1.41		$	1.39		$	2.11		12.2			51.8			$	3.52		$	3.49		(0.9)
Diluted earnings		1.62			1.86			1.45			1.39			1.37			2.07			11.3			51.1			3.48			3.44			(1.1)
Average common shares outstanding (in thousands):
Basic		353,746			352,157			352,586			352,974			350,743			345,889			(1.8)			(1.4)			352,952			348,303			(1.3)
Diluted		357,993			356,413			357,168			357,719			355,690			351,582			(1.4)			(1.2)			357,028			353,434			(1.0)
Cash dividends declared per common share		$	.52		$	.52		$	.52		$	.52		$	.52		$	.52		—			—			$	1.04		$	1.04		—
Closing price per share of common stock (as of quarter end)		53.27			63.55			59.33			72.78			84.01			82.28			29.5			(2.1)			63.55			82.28			29.5
Financial ratios:
Effective tax rate		18.1		%	13.6		%	18.5		%	16.1		%	17.2		%	18.6		%	500		bps	140		bps	15.8		%	18.1		%	230		bps
Return on average common equity		10.9			12.1			8.9			8.4			8.4			12.6			50			420			11.5			10.5			(100)
Return on tangible common equity(4)		18.7			19.2			16.8			15.6			13.4			17.3			(190)			390			19.6			17.0			(260)
Pre-tax margin		25.3			27.3			24.5			22.0			21.3			30.9			360			960			26.3			26.2			(10)
Pre-tax margin, excluding notable items(5)		25.6			27.7			24.7			26.9			22.6			29.7			200			710			26.7			26.2			(50)

(1) Certain fees associated with our GLD ETFs have been reclassified from Foreign exchange trading services to Management fees to better reflect the nature of those fees. Prior periods have been reclassified to conform to current-period presentation. These fees were approximately $15 million, $19 million, $24 million and $23 million in the first, second, third and fourth quarters of 2020, respectively.
(2) We redeemed all outstanding Series C noncumulative perpetual preferred stock on March 15, 2020 at a redemption price of $500 million ($100,000 per share equivalent to $25.00 per depositary share) plus accrued and unpaid dividends. The difference between the redemption value and the net carrying value of approximately $9 million resulted in an EPS impact of approximately ($.03) per share in the first quarter of 2020.
(3) We redeemed an aggregate of $500 million, or 5,000 of the 7,500 outstanding shares of our non-cumulative perpetual preferred stock, Series F, for cash at a redemption price of $100,000 per share (equivalent to $1,000 per depositary share) plus all declared and unpaid dividends on March 15, 2021. The difference between the redemption value and the net carrying value of approximately $5 million resulted in an EPS impact of approximately ($.02) per share in the first quarter of 2021.
(4) Return on tangible common equity is calculated by dividing year-to-date annualized net income available to common shareholders (GAAP-basis) by average tangible common equity.
(5) Notable items include acquisition and restructuring costs, repositioning charges and legal and other notable items. Refer to Reconciliations of non-GAAP Financial Information pages for details.
nm Denotes not meaningful


Emerging growth company			☐





*						Submitted electronically herewith


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
CONSOLIDATED STATEMENT OF CONDITION

	As of													% Change
(Dollars in millions, except per share amounts)		March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		March 31, 2021		June 30, 2021		2Q21 vs. 2Q20		2Q21 vs. 1Q21
Assets:
Cash and due from banks		$	4,932	$	3,685	$	4,848	$	3,467	$	4,552	$	4,619	25.3	%	1.5	%
Interest-bearing deposits with banks		147,735		90,199		75,967		116,960		107,554		113,347		25.7		5.4
Securities purchased under resale agreements		1,037		4,026		4,499		3,106		5,238		3,997		(0.7)		(23.7)
Trading account assets		872		883		840		815		786		721		(18.3)		(8.3)
Investment securities:
Investment securities available-for-sale		55,843		56,231		61,780		59,048		60,512		67,497		20.0		11.5
Investment securities held-to-maturity purchased under money market liquidity facility(1)		26,808		11,257		4,824		3,299		201		—		nm		nm
Investment securities held-to-maturity(2)		41,150		41,848		45,394		48,929		46,261		45,182		8.0		(2.3)
Total investment securities		123,801		109,336		111,998		111,276		106,974		112,679		3.1		5.3
Loans		32,379		26,860		27,035		27,925		31,585		30,704		14.3		(2.8)
Allowance for loan losses(3)		97		141		134		122		118		100		(29.1)		(15.3)
Loans, net		32,282		26,719		26,901		27,803		31,467		30,604		14.5		(2.7)
Premises and equipment, net(4)		2,225		2,212		2,193		2,154		2,143		2,169		(1.9)		1.2
Accrued interest and fees receivable		3,274		3,235		3,291		3,105		3,302		3,358		3.8		1.7
Goodwill		7,506		7,538		7,607		7,683		7,629		7,629		1.2		—
Other intangible assets		1,963		1,914		1,870		1,827		2,007		1,933		1.0		(3.7)
Other assets		36,900		30,495		32,061		36,510		45,233		45,472		49.1		0.5
Total assets		$	362,527	$	280,242	$	272,075	$	314,706	$	316,885	$	326,528	16.5		3.0
Liabilities:
Deposits:
Non-interest-bearing		$	69,404	$	42,132	$	41,183	$	49,439	$	57,079	$	61,742	46.5		8.2
Interest-bearing - U.S.		110,106		87,197		85,434		102,331		108,372		111,291		27.6		2.7
Interest-bearing - Non-U.S.		77,594		71,133		70,896		88,028		79,442		90,936		27.8		14.5
Total deposits(5)		257,104		200,462		197,513		239,798		244,893		263,969		31.7		7.8
Securities sold under repurchase agreements		5,373		3,513		2,430		3,413		587		658		(81.3)		12.1
Short-term borrowings under money market liquidity facility		25,665		11,261		4,819		3,302		200		—		nm		nm
Other short-term borrowings		4,835		912		5,838		685		642		635		(30.4)		(1.1)
Accrued expenses and other liabilities		30,151		23,634		22,064		27,503		31,722		23,067		(2.4)		(27.3)
Long-term debt		15,538		15,587		13,853		13,805		13,836		13,032		(16.4)		(5.8)
Total liabilities		338,666		255,369		246,517		288,506		291,880		301,361		18.0		3.2
Shareholders' equity:
Preferred stock, no par, 3,500,000 shares authorized:


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
AVERAGE STATEMENT OF CONDITION - RATES EARNED AND PAID - FULLY TAXABLE-EQUIVALENT BASIS(1)
The following table presents average rates earned and paid, on a fully taxable-equivalent basis, on consolidated average interest-earning assets and average interest-bearing liabilities for the quarters indicated. Tax-equivalent adjustments were calculated using a federal income tax rate of 21%, adjusted for applicable state income taxes, net of related federal benefit.
	Quarters																										% Change
	1Q20				2Q20				3Q20				4Q20				1Q21				2Q21				2Q21 vs. 2Q20	2Q21 vs. 1Q21
(Dollars in millions; fully-taxable equivalent basis)	Average balance		Average rates		Average balance		Average rates		Average balance		Average rates		Average balance		Average rates		Average balance		Average rates		Average balance		Average rates					Average balance		Average balance
Assets:
Interest-bearing deposits with banks	$	67,120	0.49	%	$	86,744	0.01	%	$	72,717	(0.03)	%	$	79,779	(0.02)	%	$	95,235	(0.04)	%	$	99,438	(0.02)	%				14.6	%	4.4	%
Securities purchased under resale agreements(2)	1,805		14.38		3,342		2.95		4,181		1.91		4,459		1.47		4,568		0.88		3,958		0.28					18.4		(13.4)
Trading account assets	915		—		877		—		900		—		820		—		800		—		729		—					(16.9)		(8.9)
Investment securities:
Investment securities available-for-sale	54,242		1.59		57,462		1.31		59,593		1.02		60,799		1.00		59,191		0.95		66,225		0.88					15.3		11.9
Investment securities held-to-maturity	41,273		2.62		40,127		2.32		43,367		1.77		47,007		1.60		47,356		1.54		45,243		1.47					12.7		(4.5)
Investment securities held-to-maturity purchased under money market liquidity facility	2,045		1.57		19,037		1.49		7,488		1.32		4,212		1.35		1,262		1.35		13		1.28					(99.9)		(99.0)
Total investment securities	97,560		2.03		116,626		1.69		110,448		1.33		112,018		1.27		107,809		1.21		111,481		1.12					(4.4)		3.4
Loans(3)	28,468		2.62		27,369		2.30		25,974		2.13		28,298		2.05		28,025		2.05		29,471		2.14					7.7		5.2
Other interest-earning assets	10,764		1.70		9,831		0.13		11,586		0.10		12,824		0.10		18,296		0.10		20,939		0.07					113.0		14.4
Total interest-earning assets	206,632		1.70		244,789		1.12		225,806		0.92		238,198		0.86		254,733		0.76		266,016		0.71					8.7		4.4
Cash and due from banks	3,856				3,480				3,652				4,403				4,529				5,594							60.7		23.5
Other assets	40,693				36,419				34,926				34,454				37,066				36,585							0.5		(1.3)
Total assets	$	251,181			$	284,688			$	264,384			$	277,055			$	296,328			$	308,195						8.3		4.0
Liabilities:
Interest-bearing deposits:
U.S.	$	80,247	0.50	%	$	91,097	0.03	%	$	85,432	0.02	%	$	92,962	0.01	%	$	100,974	0.01	%	$	110,269	—	%				21.0		9.2
Non-U.S.(4)	64,340		(0.20)		66,977		(0.36)		69,514		(0.37)		74,324		(0.40)		78,433		(0.37)		83,248		(0.32)					24.3		6.1
Total interest-bearing deposits(4)	144,587		0.19		158,074		(0.13)		154,946		(0.16)		167,286		(0.17)		179,407		(0.16)		193,517		(0.14)					22.4		7.9
Securities sold under repurchase agreements	1,773		0.55		3,394		0.03		2,891		0.08		2,402		0.07		1,017		0.05		477		(0.02)					(85.9)		(53.1)
Short-term borrowings under money market liquidity facility	2,187		1.11		19,036		1.23		7,449		1.24		4,209		1.23		1,264		1.21		13		1.25					(99.9)		(99.0)
Other short-term borrowings	2,960		1.32		3,073		0.66		1,724		0.44		1,164		0.25		764		0.14		893		0.27					(70.9)		16.9
Long-term debt	13,288		2.64		15,574		2.45		14,794		1.86		13,830		1.75		13,819		1.74		13,461		1.60					(13.6)		(2.6)
Other interest-bearing liabilities	3,434		3.55		3,461		1.07		2,764		1.28		3,050		1.20		4,848		0.73		5,682		0.80					64.2		17.2
Total interest-bearing liabilities	168,229		0.49		202,612		0.23		184,568		0.09		191,941		0.03		201,119		0.01		214,043		—					5.6		6.4
Non-interest bearing deposits	35,573				38,995				34,280				39,057				46,825				48,793							25.1		4.2
Other liabilities	23,052				18,678				20,050				20,087				22,423				20,131							7.8		(10.2)
Preferred shareholders' equity	2,861				2,472				2,472				2,472				2,378				1,976							(20.1)		(16.9)
Common shareholders' equity	21,466				21,931				23,014				23,498				23,583				23,252							6.0		(1.4)
Total liabilities and shareholders' equity	$	251,181			$	284,688			$	264,384			$	277,055			$	296,328			$	308,195						8.3		4.0
Excess of rate earned over rate paid			1.21	%			0.89	%			0.83	%			0.84	%			0.75	%			0.71	%