Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 14, 2023

______________________

State Street Corporation

(Exact name of registrant as specified in its charter)

____________________

Massachusetts

001-07511

04-2456637

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification Number)

One Congress Street

Boston

Massachusetts

02114

(Address of principal executive offices, and Zip Code)


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

________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $1 par value per share

STT

New York Stock Exchange

Depositary Shares, each representing a 1/4,000th ownership interest in a share of

STT.PRD

New York Stock Exchange

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

Depositary Shares, each representing a 1/4,000th ownership interest in a share of

STT.PRG

New York Stock Exchange

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

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

On July 14, 2023, State Street Corporation issued a news release announcing its results of operations for the second-quarter of 2023. Copies of that news release and accompanying second-quarter 2023 financial information addendum are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On July 14, 2023, State Street Corporation made available a slide presentation providing highlights of its second-quarter 2023 results of operations and related information as of June 30, 2023, which is being made available in connection with an July 14, 2023 investor conference call. A copy of that slide presentation is furnished herewith as Exhibit 99.3 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

State Street Corporation's news release dated July 14, 2023, announcing its second-quarter 2023 results of operations and accompanying second-quarter 2023 financial information addendum are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated by reference in Item 2.02 hereof; and a slide presentation providing highlights of State Street's second-quarter 2023 results of operations and related information, which is being made available in connection with a July 14, 2023 investor conference call, is furnished herewith as Exhibit 99.3 and is incorporated by reference in Item 7.01 hereof.


	Exhibit No.	Description
	99.1	State Street's news release dated July 14, 2023, announcing its second -quarter 2023 results of operations (this Exhibit 99.1 is furnished, not filed)
	99.2	State Street's second -quarter 2023 financial information addendum (this Exhibit 99.2 is furnished, not filed)
	99.3	Slide presentation providing highlights of State Street's second -quarter 2023 results of operations and related information (this Exhibit 99.3 is furnished, not filed)
*	104	Cover Page Interactive Data File (formatted as Inline XBRL)





*						Submitted electronically herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STATE STREET CORPORATION

By:

/s/ IAN W. APPLEYARD

Name:

Ian W. Appleyard,

Title:

Executive Vice President, Global Controller and Chief Accounting Officer

Date:

July 14, 2023


						Exhibit 99.1 State Street Corporation One Congress Street Boston, MA 02114 NYSE: STT www.statestreet.com

Boston, MA… July 14, 2023 News Release


STATE STREET REPORTS SECOND QUARTER 2023 EPS OF $2.17
% changes noted below reflect year-over-year 2Q comparisons

TOTAL REVENUE UP 5%

NET INTEREST INCOME GROWTH OF 18%

STRONG FLOWS IN ASSET MANAGEMENT

PRE-TAX MARGIN OF 29.5% AND ROE OF 13.0%

RETURNED $1.3 BILLION OF CAPITAL THROUGH COMMON SHARE REPURCHASES AND DIVIDENDS


Ron O'Hanley, Chairman and Chief Executive Officer: “Our second-quarter results reflect the strength of our business model year-over-year as strong net interest income growth, a significant expansion in front office solutions and higher securities finance revenue contributed to improved EPS and ROE. Quarter-over-quarter we saw good fee momentum across a number of our businesses, helped by accelerated onboarding of our to-be-installed AUC/A pipeline, while we continued to invest and serve our clients.” O'Hanley added: “Our strong balance sheet and capital generation enabled us to return approximately $1.3 billion to shareholders through common share repurchases and dividends in the second quarter. We are also pleased by the results from this year's supervisory stress test, which once again confirm the resiliency and strength of our franchise. For the third consecutive year, we announced our plan to increase our per share common stock dividend by 10%, and we intend to continue to execute on our common share repurchase authorization of up to $4.5 billion during 2023, subject to market conditions and other factors.”

FINANCIAL HIGHLIGHTS


(Table presents summary results, dollars in millions, except per share amounts, or where otherwise noted)	2Q23			1Q23			2Q22			% QoQ			% YoY
Income statement:
Total fee revenue	$	2,419		$	2,335		$	2,370		4	%		2	%
Net interest income	691			766			584			(10)			18
Other income	—			—			(1)			nm			nm
Total revenue	3,110			3,101			2,953			—			5
Provision for credit losses	(18)			44			10			nm			nm
Total expenses	2,212			2,369			2,108			(7)			5
Net income	763			549			747			39			2

Financial ratios and other metrics:
Diluted earnings per share (EPS)	$	2.17		$	1.52		$	1.91		43	%		14	%
Return on average common equity (ROE)	13.0		%	9.3		%	12.1		%	3.7	%	pts	0.9	%	pts
Pre-tax margin	29.5			22.2			28.3			7.3	%	pts	1.2	%	pts
AUC/A ($ billions)(1)	$	39,589		$	37,635		$	38,180		5	%		4	%
AUM ($ billions)(1)	3,797			3,618			3,475			5			9

(1) As of period-end.

Investor Contact: Ilene Fiszel Bieler +1 617-664-3477 Media Contact: Carolyn Cichon +1 617-664-8672

2Q23 HIGHLIGHTS

(all comparisons are to 2Q22, unless otherwise noted)

AUC/A and AUM

•Investment Servicing AUC/A as of quarter-end increased 4% to $39.6 trillion, primarily driven by higher quarter-end equity market levels and client flows

•Investment Management AUM as of quarter-end increased 9% to $3.8 trillion, primarily due to higher quarter-end market levels

New business and strategy execution

•Investment Servicing mandates: New servicing wins of $141 billion announced in 2Q23, primarily reflecting continued strong sales in the Asset Owners, Official Institutions and Alternatives client segments

◦$1.2 trillion of AUC/A onboarded during 2Q23

◦Quarter-end servicing assets to be installed in future periods of $2.4 trillion

•State Street AlphaSM: Alpha continued to gain momentum, including expanded relationships for existing mandates; 3 Alpha clients went live in 2Q23, resulting in a total of 15 live clients to-date

•Front Office Software and Data: SaaS client implementations and conversions increased annual recurring revenue (ARR) to $281 million, up 12%(a)

•Investment Management: Net inflows of $38 billion across ETFs, Cash and Institutional

Revenue

•Total revenue increased by 5%, driven by NII growth of 18% and Fee revenue growth of 2%, reflecting stronger Front office software and data revenue, Securities lending revenue, and Other fee revenue, partially offset by lower Back office servicing fees, Management fees, and FX trading services revenue

◦Servicing fees decreased 3%

◦Management fees decreased 6%

◦FX trading services decreased 8%

◦Securities finance increased 9%

◦Software and processing fees increased 18%

◦Other fee revenue increased $101 million, primarily due to a tax credit investment accounting change and the absence of negative market-related adjustments

Expenses

•Total expenses increased 5%, primarily reflecting higher salaries, headcount and business investments, partially offset by continued productivity savings

◦Compensation and employee benefits increased 7%, mainly due to higher salaries and headcount

◦Non-compensation expense increased 3%, primarily reflecting higher Information systems and communications expense, elevated Occupancy costs and higher Other expenses, partially offset by lower Transaction processing costs and benefits from ongoing productivity initiatives

Provision for credit losses

•Provision for credit losses reflects an $18 million reserve release in 2Q23, driven by the release of the allowance for credit losses related to our support of a U.S. financial institution in the prior quarter, partially offset by an increase in loan loss reserves associated with credit portfolio rating changes

(a) See the "In This News Release" section for explanations of Front office software and data annual recurring revenue (ARR).

Notable items


(Dollars in millions, except EPS amounts)	2Q23		1Q23		2Q22

Acquisition and restructuring costs (pre-tax)	$	—	$	—	$	(12)
















EPS impact	$	—	$	—	$	(0.03)

Capital and liquidity

•Standardized common equity tier 1 (CET1) ratio at quarter-end of 11.8% decreased 1.1% points compared to 2Q22 and decreased 0.3% points compared to 1Q23, primarily driven by the continuation of common share repurchases, partially offset by retained earnings

•Liquidity coverage ratio (LCR) for State Street Corporation was approximately 108% and LCR for State Street Bank and Trust was approximately 120%

•Capital return: In 2Q23, State Street returned a total of approximately $1.3 billion of capital, consisting of $1.05 billion in common share repurchases and declared common stock dividends of $203 million, or $0.63 per share

MARKET DATA

The following table provides a summary of selected financial information, including market indices and foreign exchange rates.


(Dollars in billions, except market indices and foreign exchange rates)	2Q23		1Q23		2Q22		% QoQ		% YoY

Assets under Custody and/or Administration (AUC/A)(1)(2)	$	39,589	$	37,635	$	38,180	5.2	%	3.7	%
Assets under Management (AUM)(2)	3,797		3,618		3,475		4.9		9.3

Market Indices:(3)
S&P 500 Daily Average	4,206		4,000		4,106		5.2		2.4
S&P 500 EOP	4,450		4,109		3,785		8.3		17.6
MSCI EAFE Daily Average	2,122		2,060		1,998		3.0		6.2
MSCI EAFE EOP	2,132		2,093		1,846		1.9		15.5
MSCI Emerging Markets Daily Average	987		997		1,055		(1.0)		(6.4)
MSCI Emerging Markets EOP	989		990		1,001		(0.1)		(1.2)
Bloomberg Global Aggregate Bond Index EOP	452		459		458		(1.5)		(1.3)

Foreign Exchange Volatility Indices:(3)
JPM G7 Volatility Index Daily Average	8.5		10.3		9.7		(17.5)		(12.4)
JPM Emerging Market Volatility Index Daily Average	9.8		10.9		12.0		(10.1)		(18.3)

Average Foreign Exchange Rate:
EUR vs. USD	1.089		1.073		1.065		1.5		2.3
GBP vs. USD	1.252		1.216		1.256		3.0		(0.3)

(1) Includes quarter-end assets under custody of $29,041 billion, $28,153 billion and $28,609 billion, as of 2Q23, 1Q23, and 2Q22, respectively.

(2) As of period-end.

(3) The index names listed in the table are service marks of their respective owners.

INDUSTRY FLOW DATA

The following table represents industry flow data.


(Dollars in billions)	2Q23		1Q23		4Q22		3Q22		2Q22
North America - (US Domiciled) Morningstar Direct Market Data:(1)(2)
Long Term Funds	$	(113)	$	(58)	$	(353)	$	(193)	$	(278)
Money Market	161		445		148		(26)		(35)
ETF	136		79		193		110		93
Total Flows(3)	$	184	$	466	$	(12)	$	(109)	$	(220)

EMEA - Morningstar Direct Market Data:(1)(4)
Long Term Funds	$	(7)	$	47	$	(6)	$	(94)	$	(80)
Money Market	59		27		185		(11)		(7)
ETF	29		38		27		(9)		16
Total Flows(3)	$	81	$	112	$	206	$	(114)	$	(71)

(1) Industry data is provided for illustrative purposes only. It is not intended to reflect State Street or its clients' activity and is indicative of only segments of the entire industry. See endnotes included in the "In This News Release" section.

(2) 2Q23 data for North America includes actuals for April and May 2023 and Morningstar estimates for June 2023.

(3) Line items may not sum to total due to rounding.

(4) 2Q23 data for Europe is on a rolling three month basis for March 2023 through May 2023, sourced by Morningstar.

INVESTMENT SERVICING AUC/A

The following table presents AUC/A information by product and financial instrument.


(As of period end, dollars in billions)	2Q23		1Q23		2Q22		% QoQ		% YoY
Assets Under Custody and/or Administration(1)
By product classification:
Collective funds, including ETFs	$	13,210	$	12,748	$	13,609	3.6	%	(2.9)	%
Mutual funds	10,438		10,077		9,642		3.6		8.3
Pension products	8,037		7,871		7,764		2.1		3.5
Insurance and other products	7,904		6,939		7,165		13.9		10.3
Total Assets Under Custody and/or Administration	$	39,589	$	37,635	$	38,180	5.2	%	3.7	%
By financial instrument:
Equities	$	22,454	$	20,966	$	21,953	7.1	%	2.3	%
Fixed-income	10,812		10,645		10,716		1.6		0.9
Short-term and other investments	6,323		6,024		5,511		5.0		14.7
Total Assets Under Custody and/or Administration	$	39,589	$	37,635	$	38,180	5.2	%	3.7	%

(1) AUC/A values for certain asset classes are based on a lag, typically one-month.

INVESTMENT MANAGEMENT AUM

The following tables present 2Q23 activity in AUM by product category.


(Dollars in billions)	Equity		Fixed- Income		Cash		Multi-Asset Class Solutions		Alternative Investments(1)		Total
Beginning balance as of March 31, 2023	$	2,213	$	575	$	375	$	231	$	224	$	3,618
Net asset flows:
Long-term institutional(2)	(23)		18		—		7		(1)		1
ETF	27		1		—		—		(1)		27
Cash fund	—		—		10		—		—		10
Total flows, net	$	4	$	19	$	10	$	7	$	(2)	$	38
Market appreciation/(depreciation)	138		—		5		7		3		153
Foreign exchange impact	(8)		(5)		—		—		1		(12)
Total market and foreign exchange impact	$	130	$	(5)	$	5	$	7	$	4	$	141

Ending balance as of June 30, 2023	$	2,347	$	589	$	390	$	245	$	226	$	3,797

(1) Includes real estate investment trusts, currency and commodities, including SPDR® Gold Shares and SPDR® Gold MiniSharesSM Trust, for which we are not the investment manager but act as the marketing agent.

(2) Amounts represent long-term portfolios, excluding ETFs.


(Dollars in billions)	2Q23		1Q23		4Q22		3Q22		2Q22
Beginning balance	$	3,618	$	3,481	$	3,265	$	3,475	$	4,022
Net asset flows:
Long-term institutional(1)	1		(16)		(4)		—		(69)
ETF	27		(6)		27		(14)		(8)
Cash fund	10		(4)		(40)		5		15
Total flows, net	$	38	$	(26)	$	(17)	$	(9)	$	(62)
Market appreciation/(depreciation)	153		161		184		(155)		(417)
Foreign exchange impact	(12)		2		49		(46)		(68)
Total market and foreign exchange impact	$	141	$	163	$	233	$	(201)	$	(485)

Ending balance	$	3,797	$	3,618	$	3,481	$	3,265	$	3,475

(1) Amounts represent long-term portfolios, excluding ETFs.

REVENUE


(Dollars in millions)	2Q23			1Q23			2Q22			% QoQ			% YoY
Back office servicing fees	$	1,164		$	1,131		$	1,205		2.9	%		(3.4)	%
Middle office services	95			86			92			10.5			3.3
Servicing fees	1,259			1,217			1,297			3.5			(2.9)
Management fees	461			457			490			0.9			(5.9)
Foreign exchange trading services	303			342			331			(11.4)			(8.5)
Securities finance	117			109			107			7.3			9.3
Front office software and data	162			109			126			48.6			28.6
Lending related and other fees	59			56			62			5.4			(4.8)
Software and processing fees	221			165			188			33.9			17.6
Other fee revenue	58			45			(43)			28.9			nm
Total fee revenue	$	2,419		$	2,335		$	2,370		3.6	%		2.1	%

Net interest income	691			766			584			(9.8)	%		18.3	%
Other income	—			—			(1)			nm			nm
Total Revenue	$	3,110		$	3,101		$	2,953		0.3	%		5.3	%

Net interest margin (FTE)(1)	1.19		%	1.31		%	0.94		%	(0.12)	%	pts	0.25	%	pts

(1) Net Interest Margin (NIM) is presented on a fully taxable-equivalent (FTE) basis. Refer to the Addendum for reconciliations of our FTE-basis presentation.

Servicing fees decreased 3% compared to 2Q22, primarily as net new business was more than offset by lower client activity/adjustments and below average pricing headwinds. Servicing fees increased 3% compared to 1Q23, mainly due to higher average market levels and net new business.

•Back office servicing fees decreased 3% and increased 3% compared to 2Q22 and 1Q23, respectively, generally consistent with total servicing fees above

•Middle office services increased 3% and 10% compared to 2Q22 and 1Q23, respectively, primarily driven by net new business

Management fees decreased 6% compared to 2Q22, primarily due to net outflows in prior periods and a previously described shift of certain management fees into NII, partially offset by higher average market levels. Management fees increased 1% compared to 1Q23, primarily due to higher average market levels and Cash net inflows.(a)

Foreign exchange trading services decreased 8% and 11% compared to 2Q22 and 1Q23, respectively, primarily reflecting lower client FX volumes and FX volatility.

Securities finance increased 9% compared to 2Q22, primarily from higher Agency spreads. Securities finance increased 7% compared to 1Q23, primarily driven by higher Agency and Prime Services (formerly Enhanced Custody) spreads, partially offset by lower Agency balances.

Software and processing fees increased 18% and 34% compared to 2Q22 and 1Q23, respectively, primarily driven by higher front office software and data revenue associated with CRD.

•Front office software and data increased 29% and 49% compared to 2Q22 and 1Q23, respectively, primarily driven by higher On-premises renewals and continued SaaS implementations and conversions driving Software-enabled and Professional services revenue growth

•Lending related and other fees decreased 5% compared to 2Q22, primarily due to changes in product mix. Lending and other fees increased 5% compared to 1Q23, mainly driven by stronger client demand for credit lines

Other fee revenue increased $101 million compared to 2Q22, primarily due to a tax credit investment accounting change and the absence of negative market-related adjustments. Other fee revenue increased $13 million compared to 1Q23, primarily due to the aforementioned tax credit investment accounting change, partially offset by the absence of positive fair value adjustments on equity investments.

(a) Shift of a portion of management fees into NII associated with management fees that is now recognized as NII for certain U.S. ETFs with unique structures.

Net interest income (NII) increased 18% compared to 2Q22, primarily due to higher short-term market rates from global central bank hikes, an increase in long-term interest rates and balance sheet positioning, partially offset by lower average deposits. Compared to 1Q23, NII decreased 10%, primarily driven by lower average non-interest bearing deposit balances, partially offset by higher short-term market rates from international central bank hikes.

Total revenues were positively impacted by currency translation by $3 million compared to 2Q22 and by $10 million compared to 1Q23.

PROVISION FOR CREDIT LOSSES


(Dollars in millions)	2Q23		1Q23		2Q22		% QoQ		% YoY
Allowance for credit losses:
Beginning balance	$	162	$	121	$	107	33.9	%	51.4	%
Provision for credit losses	(18)		44		10		nm		nm
Charge-offs	(8)		(3)		(3)		nm		nm

Ending Balance	$	136	$	162	$	114	(16.0)	%	19.3	%

Total provision for credit losses reflects an $18 million reserve release in 2Q23, driven by the release of the allowance for credit losses related to our support of a U.S. financial institution in the prior quarter, partially offset by an increase in loan loss reserves associated with credit portfolio rating changes.

EXPENSES


(Dollars in millions)	2Q23			1Q23			2Q22			% QoQ			% YoY
Compensation and employee benefits	$	1,123		$	1,292		$	1,046		(13.1)	%		7.4	%
Information systems and communications	405			414			392			(2.2)			3.3
Transaction processing services	235			239			240			(1.7)			(2.1)
Occupancy	103			94			96			9.6			7.3
Acquisition and restructuring costs	—			—			12			nm			nm
Amortization of other intangible assets	60			60			60			—			—
Other	286			270			262			5.9			9.2
Total Expenses	$	2,212		$	2,369		$	2,108		(6.6)	%		4.9	%
Total expenses, excluding notable items(1)	$	2,212		$	2,369		$	2,096		(6.6)	%		5.5	%

Effective tax rate	16.7		%	20.2		%	10.5		%	(3.5)	%	pts	6.2	%	pts

(1) See "2Q23 Highlights" in this news release for a listing of notable items. Results excluding notable items and/or currency translation impact are non-GAAP measures. Please refer to the Addendum included with this news release for an explanation and reconciliation of non-GAAP measures as well as the impact of currency translation on the respective line items.

Compensation and employee benefits increased 7% compared to 2Q22, mainly due to higher salaries and headcount. Compensation and employee benefits decreased 13% compared to 1Q23, largely driven by the absence of seasonal expenses.

Information systems and communications increased 3% compared to 2Q22, primarily due to higher technology and infrastructure investments, partially offset by optimization savings, insourcing and vendor savings initiatives. Information systems and communications decreased 2% compared to 1Q23, mainly due to credits related to vendor savings initiatives.

Transaction processing services decreased 2% compared to both 2Q22 and 1Q23, mainly reflecting lower sub-custody costs from vendor credits.

Occupancy increased 7% and 10% compared to 2Q22 and 1Q23, respectively, mainly due to our headquarters relocation, temporarily resulting in overlapping cost.

Other expenses increased 9% compared to 2Q22, largely reflecting higher professional fees. Other expenses increased 6% compared to 1Q23, primarily driven by higher marketing spend and professional fees.

Total expenses were positively impacted by currency translation by $5 million compared to 2Q22 and negatively impacted by $8 million compared to 1Q23.

TAXES

The effective tax rate of 16.7% in 2Q23 increased from 10.5% in 2Q22, primarily reflecting higher discrete benefits in 2Q22, which included the reassessment of a deferred tax asset valuation allowance. Compared to 1Q23, the effective tax rate decreased from 20.2%, due to higher discrete benefits.

CAPITAL AND LIQUIDITY

The following table presents preliminary estimates of regulatory capital and liquidity ratios for State Street Corporation.


(As of period end)	2Q23		1Q23		2Q22
Basel III Standardized Approach:
Common equity tier 1 ratio (CET1)	11.8	%	12.1	%	12.9	%
Tier 1 capital ratio	13.6		13.8		14.6
Total capital ratio	14.9		15.2		15.9

Basel III Advanced Approaches:
Common equity tier 1 ratio (CET1)	12.7		13.0		13.5
Tier 1 capital ratio	14.5		14.8		15.3
Total capital ratio	15.8		16.0		16.5

Tier 1 leverage ratio	5.8		6.0		6.0
Supplementary leverage ratio	6.4		6.8		6.6

Liquidity coverage ratio (LCR) (1)	108	%	108	%	106	%
LCR - State Street Bank and Trust (1)	120	%	124	%	122	%

(1) See the "In This News Release" section for further details on LCR and the calculation between State Street Corporation and State Street Bank and Trust.

Standardized capital ratios were binding for all periods included above.

CET1 ratio at quarter-end of 11.8% decreased 1.1% points compared to 2Q22 and decreased 0.3% points compared to 1Q23, primarily driven by the continuation of common share repurchases, partially offset by retained earnings.

Tier 1 leverage ratio at quarter-end of 5.8% decreased 0.2% points compared to both 2Q22 and 1Q23, mainly due to the continuation of common share repurchases, partially offset by retained earnings and a reduction in average balance sheet size.

Liquidity coverage ratio (LCR) for State Street Corporation was approximately 108%, up 2% points compared to 2Q22, and flat compared to 1Q23. LCR for State Street Bank and Trust was approximately 120%, down 2% points and 4% points compared to 2Q22 and 1Q23, respectively.

INVESTOR CONFERENCE CALL AND QUARTERLY WEBSITE DISCLOSURE

State Street will webcast an investor conference call today, Friday, July 14, 2023, at 10:00 a.m. ET, available at http://investors.statestreet.com. The conference call will also be available via telephone, at (888) 886-7786. The Conference ID# is 22754162.

Recorded replay of the conference call will be available on the website and by telephone at (877) 674-7070 beginning approximately two hours after the call's completion. The Conference ID# is 22754162 and the Playback Passcode is 754162 #. The telephone replay will be available for approximately one month following the conference call.

This News Release, presentation materials referred to on the conference call and additional financial information are available on State Street's website, at http://investors.statestreet.com under “Investor News & Events" and under the title “Events & Presentations".

State Street intends to publish updates to its public disclosure regarding regulatory capital, as required by the Basel III final rule, and the liquidity coverage ratio, on a quarterly basis on its website at

http://investors.statestreet.com, under "Filings & Reports". Those updates will be published each quarter, during the period beginning after State Street's public announcement of its quarterly results of operations and ending on or prior to the due date under applicable bank regulatory requirements (i.e., ordinarily, ending no later than 60 days following year-end or 40 to 45 days following each other quarter-end, as applicable). For 2Q23, State Street expects to publish its updates during the period beginning today and ending on or about August 9, 2023 and on or about August 14, 2023 for the liquidity coverage ratio.

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $39.6 trillion in assets under custody and/or administration and $3.8 trillion* in assets under management as of June 30, 2023, State Street operates globally in more than 100 geographic markets and employs approximately 43,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of June 30, 2023 includes approximately $63 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

IN THIS NEWS RELEASE:

•Stock purchases under our common stock repurchase programs 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 may not be ratable over the duration of the program, may vary from reporting period to reporting period and will depend on several factors, including our capital position and financial performance, investment opportunities, market conditions, regulatory considerations including the nature and timing of implementation of revisions to the Basel III framework, and the amount of common stock issued as part of employee compensation programs. The common share repurchase programs do not have specific price targets and may be suspended at any time. State Street’s Board of Directors will consider the common stock dividend at a regularly scheduled board meeting in the third quarter of 2023. State Street’s third quarter 2023 common stock and other stock dividends, including the declaration, timing and amount, remain subject to consideration and approval by State Street’s Board of Directors at the relevant times.

•In March 2023, the Financial Accounting Standards Board issued new accounting guidance that expands the use of proportional amortization accounting to other types of tax credit investments regardless of the tax credit program from which the income tax credits are received. We adopted the new standard in the second quarter of 2023, effective January 1, 2023 for renewable energy production tax credit investments under the modified retrospective approach. The impact of adoption results in an increase in Other fee revenue, an increase in Tax expense and was not material to net income.

•Expenses and other measures are sometimes presented excluding notable items/effects of currency translation. This is a non-GAAP presentation. See the Addendum to this News Release for an explanation and reconciliations of our non-GAAP measures.

•New asset servicing mandates, including announced Alpha 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. Consistent with past practice, AUC/A values for certain asset classes are based on a lag, typically one-month. Generally, our servicing fee revenues are affected by several factors, and we provide varied services from our full suite of offerings to different clients. The basis for fees will also differ across regions and clients and can reflect pricing pressures traditionally experienced in our industry. 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 also are generally affected by various factors, including investment product type and strategy and relationship pricing for clients, and are more sensitive to market valuations than are servicing fees. Therefore, no assumption should be drawn from management fees associated with changes in AUM levels.

•Front office software and data ARR, an operating metric, is calculated by annualizing current quarter revenue for CRD and Mercatus and includes the annualized amount of most software-enabled revenue, including revenue generated from SaaS, maintenance and support revenue, FIX, and value-added services, which are all expected to be recognized ratably over the term of client contracts. ARR does not include software-enabled brokerage revenue, revenue from affiliates and licensing fees (excluding the portion allocated to maintenance and support) from on-premises software. Front office software and data ARR was $251 million, $273 million, and $281 million in 2Q22, 1Q23, and 2Q23, respectively.

•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-premises 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.

•Unless otherwise noted, all capital ratios referenced on this News Release and elsewhere in this presentation refer to State Street Corporation, or State Street, and not State Street Bank and Trust Company. 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 ratios were binding for 2Q23. Refer to the Addendum included with this News Release for additional information. All capital ratios are estimated. Liquidity Coverage Ratio (LCR) is a preliminary estimate based on a quarterly daily average.

•All earnings per share amounts represent fully diluted earnings per common share.

•Return on average common equity is determined by dividing annualized net income available to common shareholders by average common shareholders' equity for the period.

•Quarter-over-quarter (QoQ) is a sequential quarter comparison. Year-on-year (YoY) is the current period compared to the same period a year ago.

•Operating leverage is the rate of growth of total revenue less the rate of growth of total expenses, relative to the corresponding prior year period, as applicable.

•"AUC/A" denotes Assets Under Custody and/or Administration; "AUC" denotes Assets Under Custody; "AUM" denotes Assets Under Management; "SPDR" denotes Standard and Poor's Depository Receipt; "ETF" denotes Exchange-traded fund; "nm" denotes not meaningful; "EOP" denotes end of period.

•"CRD" denotes Charles River Development; "SaaS" denoted Software as a service; "FIX" denotes The Charles River Network's FIX Network Service (CRN); "on-premises" denotes on-premises revenue as recognized in the CRD business.

•"RWA" denotes risk-weighted assets; "AOCI" denotes Accumulated other comprehensive income; "AFS" denotes Available-for-sale; "SA-CCR" denotes Standard Approach for Counterparty Credit Risk.

•"FTE" denotes fully taxable-equivalent basis; NIM is presented on an FTE-basis, and is calculated by dividing FTE NII by average total interest-earning assets. Refer to the Addendum for reconciliations of our FTE-basis presentation.

•State Street Bank and Trust's (SSBT) LCR is significantly higher than State Street Corporation's (SSC) LCR, primarily due to application of the transferability restriction in the U.S. LCR Final Rule to the calculation of SSC’s LCR. This restriction limits the amount of HQLA held at SSC’s principal banking subsidiary, SSBT and available for the calculation of SSC’s LCR to the amount of net cash outflows of SSBT. This transferability restriction does not apply in the calculation of SSBT’s LCR, and therefore SSBT’s LCR reflects the full benefit of all of its HQLA holdings.

•Industry data is provided for illustrative purposes only. It is not intended to reflect State Street's or its clients' activity and is indicative of only selected segments of the entire industry.

◦Morningstar data includes long-term mutual funds, ETFs 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 US domiciled Market flows mainly in Equities, Allocation and Fixed Income asset classes. 2Q23 data for North America (US domiciled) includes Morningstar actuals for April and May 2023 and Morningstar estimates for June 2023.

◦The long-term funds flows reported by Morningstar direct in EMEA are composed of the European market flows mainly in Equities, Allocation and Fixed Incomes asset classes. 2Q23 data for Europe is on a rolling three month basis for March 2023 through May 2023, sourced by Morningstar.

FORWARD LOOKING STATEMENTS

This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our strategy, growth and sales prospects, capital management, business, financial and capital condition, results of operations, the financial and market outlook and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “priority,” “will,” “expect,” "intend," "aim," "outcome," "future," “strategy,” "pipeline," “trajectory,” "target," “guidance,” “objective,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “trend,” 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 News Release 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;

•We could be adversely affected by geopolitical, economic and market conditions, including, for example, as a result of liquidity or capital deficiencies (actual or perceived) by other financial institutions and related market and government actions, the ongoing war in Ukraine, actions taken by central banks to address inflationary pressures, challenging conditions in global equity markets, periods of significant volatility in valuations and liquidity or other disruptions in the markets for equity, fixed income and other asset classes globally or within specific markets such as those that impacted the UK gilts in the fourth quarter of 2022;

•Our development and completion of new products and services, including State Street AlphaSM or State Street DigitalSM, and the enhancement of our infrastructure required to meet increased regulatory and client expectations for resiliency and the systems and process re-engineering necessary to achieve improved productivity and reduced operating risk, involve costs, risks and dependencies on third parties;

•Our business may be negatively affected by our failure to update and maintain our technology infrastructure or as a result of a cyber-attack or similar vulnerability in our or business partners' infrastructure;

•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 have significant international operations and clients that can be adversely impacted by developments in European and Asian economies;

•Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets, governmental action or monetary policy. For example, among other risks, increases in prevailing interest rates could lead to reduced levels of client deposits and resulting decreases in our NII;

•Our business activities expose us to interest rate risk;

•We assume significant credit risk of counterparties, who may also have substantial financial dependencies on other financial institutions, and these credit exposures and concentrations could expose us to financial loss;

•Our fee revenue represents a significant portion of our revenue and is subject to decline based on, among other factors, market and currency declines, investment activities and preferences of our clients and their business mix;

•If we are unable to effectively manage our capital and liquidity, our 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 regulatory capital, credit (counterparty and otherwise) and liquidity standards and considerations;

•We face extensive and changing governmental regulation in the jurisdictions in which we operate, which may increase our costs and compliance risks and may affect our business activities and strategies;

•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;

•Our businesses may be adversely affected by increased political and regulatory scrutiny of asset management stewardship and corporate ESG practices;

•Our efforts to improve our billing processes and practices are ongoing and may result in the identification of additional billing errors;

•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 results of operations and financial condition;

•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;

•We could face liabilities for withholding and other non-income taxes, including in connection with our services to clients, as a result of tax authority examinations;

•Our internal control environment may be inadequate, fail or be circumvented, and operational risks could adversely affect our business and consolidated results of operations;

•Shifting operational activities to non-U.S. jurisdictions, changing our operating model and outsourcing portions of our operations to third parties may expose us to increased operational risk, geopolitical risk and reputational harm and may not result in expected cost savings or operational improvements;

•Attacks or unauthorized access to our or our business partners' information technology systems or facilities, or disruptions to our or their operations, could result in significant costs, reputational damage and impacts on our business activities;

•Long-term contracts and customizing service delivery for clients 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 or may infringe upon the rights of third parties;

•The quantitative models we use to manage our business may contain errors that could adversely impact our business and regulatory compliance;

•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, and regulatory responses to such risks, could adversely affect us;

•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; and

•The transition away from LIBOR may result in additional costs and increased risk exposure.

Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2022 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 News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.

Exhibit 99.2



STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
June 30, 2023


Table of Contents

GAAP-Basis Financial Information:
4-Year Summary of Results			2

Consolidated Results of Operations			3
Consolidated Statement of Condition			5
Average Statement of Condition - Rates Earned and Paid - Fully Taxable-Equivalent Basis			6
Average Statement of Condition - Rates Earned and Paid - Fully Taxable-Equivalent Basis - Year-to-Date			7
Selected Average Balances by Currency - Rates Earned and Paid			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			20
Reconciliations of Constant Currency FX Impacts			21

Capital:
Reconciliations of Tangible Book Value per Share and Return on Tangible Common Equity			22
Regulatory Capital			23


This financial information should be read in conjunction with State Street's news release dated July 14, 2023.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
4-YEAR SUMMARY OF RESULTS

(Dollars in millions, except per share amounts, or where otherwise noted)	2019			2020			2021			2022
Year ended December 31:
Total fee revenue	$	9,147		$	9,499		$	10,012		$	9,606
Net interest income	2,566			2,200			1,905			2,544
Other income	43			4			110			(2)
Total revenue	11,756			11,703			12,027			12,148
Provision for credit losses	10			88			(33)			20
Total expenses	9,034			8,716			8,889			8,801
Income before income tax expense	2,712			2,899			3,171			3,327
Income tax expense	470			479			478			553

Net income	2,242			2,420			2,693			2,774
Net income available to common shareholders	$	2,009		$	2,257		$	2,572		$	2,660
Per common share:
Diluted earnings per common share	$	5.38		$	6.32		$	7.19		$	7.19
Average diluted common shares outstanding (in thousands)	373,666			357,106			357,962			370,109
Cash dividends declared per common share	$	1.98		$	2.08		$	2.18		$	2.40
Closing price per share of common stock (at year end)	79.10			72.78			93.00			77.57
Average balance sheet:
Investment securities	$	91,768		$	109,175		$	111,730		$	111,929
Total assets	223,334			269,334			299,743			286,430
Total deposits	158,262			193,225			235,404			222,874
Ratios and other metrics:
Return on average common equity	9.4		%	10.0		%	10.7		%	11.1		%



Pre-tax margin	23.1			24.8			26.4			27.4
Pre-tax margin, excluding notable items(1)	25.8			26.3			27.6			28.4
Net interest margin, fully taxable-equivalent basis	1.42			0.97			0.74			1.03
Common equity tier 1 ratio(2)(3)	11.7			12.3			14.3			13.6
Tier 1 capital ratio(2)(3)	14.5			14.4			16.1			15.4
Total capital ratio(2)(3)	15.6			15.3			17.5			16.8
Tier 1 leverage ratio(2)	6.9			6.4			6.1			6.0
Supplementary leverage ratio(2)	6.1			8.1			7.4			7.0
Assets under custody and/or administration (in trillions)	$	34.36		$	38.79		$	43.68		$	36.74
Assets under management (in trillions)	3.12			3.47			4.14			3.48

(1) Notable items include acquisition and restructuring costs, repositioning charges and legal and other notable items. Refer to Reconciliations of pre-tax margin excluding notable items for details.
(2) The capital ratios presented are calculated in conformity with the applicable regulatory guidance in effect as of each period end. Effective January 1, 2018, the applicable final rules are in effect and the ratios are calculated based on fully phased-in CET1, tier 1, total capital and supplementary leverage numbers. We did not revise previously-filed reported capital metrics and ratios.

(3) The reportable ratios represent the lower of each of the risk-based capital ratios under both the Standardized Approach and the Advanced Approaches.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
CONSOLIDATED RESULTS OF OPERATIONS

	Quarters												% Change					Year-to-Date			% Change
(Dollars in millions, except per share amounts, or where otherwise noted)	1Q22		2Q22		3Q22		4Q22		1Q23		2Q23		2Q23 vs. 2Q22		2Q23 vs. 1Q23			2022	2023		YTD2023 vs. YTD2022

Fee revenue:
Back office servicing fees	$	1,268	$	1,205	$	1,126	$	1,115	$	1,131	$	1,164	(3.4)	%		2.9	%		$	2,473	$	2,295	(7.2)	%
Middle office services	100		92		93		88		86		95		3.3			10.5			192		181		(5.7)
Servicing fees	1,368		1,297		1,219		1,203		1,217		1,259		(2.9)			3.5			2,665		2,476		(7.1)
Management fees	520		490		472		457		457		461		(5.9)			0.9			1,010		918		(9.1)
Foreign exchange trading services	359		331		319		367		342		303		(8.5)			(11.4)			690		645		(6.5)
Securities finance	96		107		110		103		109		117		9.3			7.3			203		226		11.3
Front office software and data	138		126		127		159		109		162		28.6			48.6			264		271		2.7
Lending related and other fees	63		62		57		57		56		59		(4.8)			5.4			125		115		(8.0)
Software and processing fees	201		188		184		216		165		221		17.6			33.9			389		386		(0.8)
Other fee revenue	29		(43)		(5)		18		45		58		nm			28.9			(14)		103		nm
Total fee revenue	2,573		2,370		2,299		2,364		2,335		2,419		2.1			3.6			4,943		4,754		(3.8)
Net interest income:
Interest income	521		704		1,101		1,762		2,027		2,232		nm			10.1			1,225		4,259		nm
Interest expense	12		120		441		971		1,261		1,541		nm			22.2			132		2,802		nm
Net interest income	509		584		660		791		766		691		18.3			(9.8)			1,093		1,457		33.3
Other income:
Gains (losses) related to investment securities, net	(1)		(1)		—		—		—		—		nm			—			(2)		—		nm

Total other income	(1)		(1)		—		—		—		—		nm			—			(2)		—		nm
Total revenue	3,081		2,953		2,959		3,155		3,101		3,110		5.3			0.3			6,034		6,211		2.9
Provision for credit losses	—		10		—		10		44		(18)		nm			nm			10		26		nm
Expenses:
Compensation and employee benefits	1,232		1,046		1,042		1,108		1,292		1,123		7.4			(13.1)			2,278		2,415		6.0
Information systems and communications	423		392		399		416		414		405		3.3			(2.2)			815		819		0.5
Transaction processing services	264		240		227		240		239		235		(2.1)			(1.7)			504		474		(6.0)
Occupancy	95		96		97		106		94		103		7.3			9.6			191		197		3.1
Acquisition and restructuring costs	9		12		13		31		—		—		nm			—			21		—		nm
Amortization of other intangible assets	61		60		58		59		60		60		—			—			121		120		(0.8)
Other	243		262		274		296		270		286		9.2			5.9			505		556		10.1
Total expenses	2,327		2,108		2,110		2,256		2,369		2,212		4.9			(6.6)			4,435		4,581		3.3
Income before income tax expense	754		835		849		889		688		916		9.7			33.1			1,589		1,604		0.9
Income tax expense	150		88		159		156		139		153		73.9			10.1			238		292		22.7
Net income	$	604	$	747	$	690	$	733	$	549	$	763	2.1			39.0			$	1,351	$	1,312	(2.9)


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)		1Q22		2Q22		3Q22		4Q22		1Q23		2Q23			2Q23 vs. 2Q22			2Q23 vs. 1Q23		2022		2023		YTD2023 vs. YTD2022
Adjustments to net income:
Dividends on preferred stock		$	(20)	$	(35)	$	(21)	$	(36)	$	(23)	$	(37)		(5.7)	%		(60.9)	%	$	(55)	$	(60)	(9.1)	%
Earnings allocated to participating securities		(1)		—		—		(1)		(1)		—			—			nm		(1)		(1)		—
Net income available to common shareholders		$	583	$	712	$	669	$	696	$	525	$	726		2.0			38.3		$	1,295	$	1,251	(3.4)

Per common share:
Basic earnings		$	1.59	$	1.94	$	1.82	$	1.94	$	1.54	$	2.20		13.4			42.9		$	3.53	$	3.73	5.7
Diluted earnings		1.57		1.91		1.80		1.91		1.52		2.17			13.6			42.8		3.48		3.68		5.7
Average common shares outstanding (in thousands):
Basic		366,542		367,375		367,789		359,200		341,106		329,383			(10.3)			(3.4)		366,961		335,212		(8.7)
Diluted		372,037		372,123		372,418		363,923		345,472		333,540			(10.4)			(3.5)		372,080		339,473		(8.8)
Cash dividends declared per common share		$	0.57	$	0.57	$	0.63	$	0.63	$	0.63	$	0.63		10.5			—		$	1.14	$	1.26	10.5
Closing price per share of common stock (as of quarter end)		87.12		61.65		60.81		77.57		75.69		73.18			18.7			(3.3)		61.65		73.18		18.7
Book value per common share		$	66.05	$	64.72	$	64.33	$	66.51	$	67.69	$	69.01		6.6			2.0		$	64.72	$	69.01	6.6
Tangible book value per common share(1)		42.00		41.25		41.41		42.03		42.34		42.68			3.5			0.8		41.25		42.68		3.5
Balance sheet averages:
Investment securities		$	119,286	$	113,929	$	108,875	$	105,804	$	107,089	$	107,550		(5.6)			0.4		$	116,593	$	107,321	(8.0)
Total assets		295,010		291,435		275,168		284,346		277,492		274,972			(5.6)			(0.9)		293,213		276,225		(5.8)
Total deposits		233,268		228,417		213,302		216,799		210,320		205,831			(9.9)			(2.1)		230,829		208,063		(9.9)








Ratios and other metrics:
Effective tax rate	19.9		%	10.5		%	18.7		%	17.6		%	20.2		%	16.7		%	6.2	%	pts	(3.5)	%	pts	15.0		%	18.2		%	3.2	%	pts
Return on average common equity	9.5			12.1			11.2			11.8			9.3			13.0			0.9			3.7			10.8			11.1			0.3
Return on average tangible common equity(2)	14.7			17.3			17.3			17.7			14.6			18.0			0.7			3.4			16.8			17.7			0.9
Pre-tax margin	24.5			28.3			28.7			28.2			22.2			29.5			1.2			7.3			26.3			25.8			(0.5)
Pre-tax margin, excluding notable items(3)	24.8			28.7			29.1			30.9			22.2			29.5			0.8			7.3			26.7			25.8			(0.9)
Net interest margin, fully taxable-equivalent basis	0.80			0.94			1.11			1.29			1.31			1.19			0.25			(0.12)			0.87			1.25			0.38
Common equity tier 1 ratio(4)(5)	11.9			12.9			13.2			13.6			12.1			11.8			(1.1)			(0.3)			12.9			11.8			(1.1)
Tier 1 capital ratio(4)(5)	13.4			14.6			14.9			15.4			13.8			13.6			(1.0)			(0.2)			14.6			13.6			(1.0)
Total capital ratio(4)(5)	14.8			15.9			16.2			16.8			15.2			14.9			(1.0)			(0.3)			15.9			14.9			(1.0)
Tier 1 leverage ratio(4)	5.9			6.0			6.4			6.0			6.0			5.8			(0.2)			(0.2)			6.0			5.8			(0.2)
Supplementary leverage ratio(4)	6.7			6.6			7.1			7.0			6.8			6.4			(0.2)			(0.4)			6.6			6.4			(0.2)
End-of-period securities on loan(6)	$	412,162		$	358,972		$	353,108		$	362,395		$	362,438		$	290,515		(19.1)	%		(19.8)	%		$	358,972		$	290,515		(19.1)	%
Assets under custody and/or administration (in billions)	41,724			38,180			35,688			36,743			37,635			39,589			3.7			5.2			38,180			39,589			3.7
Assets under management (in billions)	4,022			3,475			3,265			3,481			3,618			3,797			9.3			4.9			3,475			3,797			9.3


(1) Tangible book value per common share is calculated by dividing the period end tangible common equity (non-GAAP) by the total common shares outstanding at period end. Refer to the Reconciliations of Tangible Book Value per Common Share and Return on Tangible Common Equity page for details.
(2) 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 (non-GAAP). Refer to the Reconciliations of Tangible Book Value per Common Share and Return on Tangible Common Equity page for details.
(3) 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.
(4) The capital ratios presented are calculated in conformity with the applicable regulatory guidance in effect as of each period end. Capital ratios as of June 30, 2023 are estimates.
(5) The reportable ratios represent the lower of each of the risk-based capital ratios under both the Standardized Approach and the Advanced Approaches. Refer to Regulatory Capital for details on Standardized and Advanced Approaches ratios.
(6) Average securities on loan were $397,522 million, $386,734 million, $365,883 million and $355,298 million in the first, second, third and fourth quarters of 2022, respectively, and $355,150 million and $298,145 million in the first and second quarters of 2023, respectively.
nm Denotes not meaningful


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
CONSOLIDATED STATEMENT OF CONDITION

	As of													% Change
(Dollars in millions, except per share amounts)		March 31, 2022		June 30, 2022		September 30, 2022		December 31. 2022		March 31, 2023		June 30, 2023			2Q23 vs. 2Q22		2Q23 vs. 1Q23
Assets:
Cash and due from banks		$	2,976	$	3,515	$	2,748	$	3,970	$	3,698	$	3,930		11.8	%	6.3	%
Interest-bearing deposits with banks, net		104,010		91,360		99,199		101,593		87,935		86,048			(5.8)		(2.1)
Securities purchased under resale agreements		803		5,203		1,308		5,215		1,134		1,668			(67.9)		47.1
Trading account assets		754		728		685		650		695		715			(1.8)		2.9
Investment securities:
Investment securities available-for-sale, net		74,348		45,454		40,986		40,579		42,841		43,046			(5.3)		0.5

Investment securities held-to-maturity, net(1)		45,203		64,261		65,232		64,700		65,027		63,510			(1.2)		(2.3)
Total investment securities		119,551		109,715		106,218		105,279		107,868		106,556			(2.9)		(1.2)
Loans		35,141		33,565		36,113		32,150		33,916		34,123			1.7		0.6
Allowance for credit losses on loans(2)		86		95		97		97		115		120			26.3		4.3
Loans, net		35,055		33,470		36,016		32,053		33,801		34,003			1.6		0.6
Premises and equipment, net(3)		2,229		2,240		2,283		2,315		2,337		2,349			4.9		0.5
Accrued interest and fees receivable		3,446		3,403		3,526		3,434		3,570		3,732			9.7		4.5
Goodwill		7,582		7,465		7,351		7,495		7,530		7,544			1.1		0.2
Other intangible assets		1,744		1,654		1,568		1,544		1,493		1,435			(13.2)		(3.9)
Other assets		44,200		41,470		42,666		37,902		40,755		46,581			12.3		14.3
Total assets		$	322,350	$	300,223	$	303,568	$	301,450	$	290,816	$	294,561		(1.9)		1.3
Liabilities:
Deposits:
Non-interest-bearing		$	61,797	$	55,062	$	55,894	$	46,755	$	45,856	$	36,455		(33.8)		(20.5)
Interest-bearing - U.S.		104,962		107,262		105,021		111,384		108,623		122,676			14.4		12.9
Interest-bearing - Non-U.S.		84,284		79,589		77,321		77,325		69,152		63,185			(20.6)		(8.6)
Total deposits(4)		251,043		241,913		238,236		235,464		223,631		222,316			(8.1)		(0.6)
Securities sold under repurchase agreements		4,277		951		4,250		1,177		3,695		4,294			nm		16.2


Short-term borrowings		18		73		109		2,097		8		53			(27.4)		nm
Accrued expenses and other liabilities		26,866		17,989		21,326		22,525		22,427		26,516			47.4		18.2
Long-term debt		13,922		13,530		13,999		14,996		16,305		17,178			27.0		5.4
Total liabilities		296,126		274,456		277,920		276,259		266,066		270,357			(1.5)		1.6
Shareholders' equity:
Preferred stock, no par, 3,500,000 shares authorized:
Series D, 7,500 shares issued and outstanding		742		742		742		742		742		742			—		—
Series F, 2,500 shares issued and outstanding		247		247		247		247		247		247			—		—
Series G, 5,000 shares issued and outstanding		493		493		493		493		493		493			—		—
Series H, 5,000 shares issued and outstanding		494		494		494		494		494		494			—		—
Common stock, $1 par, 750,000,000 shares authorized(5)(6)		504		504		504		504		504		504			—		—
Surplus		10,762		10,757		10,760		10,730		10,724		10,729			(0.3)		—
Retained earnings		25,612		26,115		26,552		27,028		27,342		27,808			6.5		1.7
Accumulated other comprehensive income (loss)		(2,698)		(3,687)		(4,268)		(3,711)		(3,272)		(3,258)			11.6		0.4
Treasury stock, at cost(7)		(9,932)		(9,898)		(9,876)		(11,336)		(12,524)		(13,555)			(36.9)		(8.2)
Total shareholders' equity		26,224		25,767		25,648		25,191		24,750		24,204			(6.1)		(2.2)
Total liabilities and equity		$	322,350	$	300,223	$	303,568	$	301,450	$	290,816	$	294,561		(1.9)		1.3


(1) Fair value of investment securities held-to-maturity		$	42,834	$	60,103	$	58,320	$	57,913	$	59,139	$	56,863
(2) Total allowance for credit losses including off-balance sheet commitments		107		114		114		121		162		136
(3) Accumulated depreciation for premises and equipment		5,530		5,652		5,772		5,745		5,918		6,035
(4) Average total deposits		233,268		228,417		213,302		216,799		210,320		205,831
(5) Common stock shares issued		503,879,642		503,879,642		503,879,642		503,879,642		503,879,642		503,879,642
(6) Total common shares outstanding		367,114,788		367,619,353		367,967,505		349,024,167		336,461,072		322,101,110
(7) Treasury stock shares		136,764,854		136,260,289		135,912,137		154,855,475		167,418,570		181,778,532


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
	1Q22					2Q22					3Q22					4Q22					1Q23					2Q23					2Q23 vs. 2Q22	2Q23 vs. 1Q23
(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, net	$	76,741	0.05		%	$	76,531	0.36		%	$	68,918	1.16		%	$	83,809	2.66		%	$	77,220	3.37		%	$	69,079	4.05		%			(9.7)	%	(10.5)	%
Securities purchased under resale agreements(2)	3,150		1.31			2,022		7.47			1,470		15.55			1,843		17.72			1,643		18.94			1,634		19.82					(19.2)		(0.5)
Trading account assets	761		—			746		0.01			701		—			677		—			667		—			704		—					(5.6)		5.5
Investment securities:
Investment securities available-for-sale, net	75,226		0.83			54,767		0.91			43,956		1.62			40,980		2.67			42,101		3.31			43,409		3.76					(20.7)		3.1
Investment securities held-to-maturity, net	44,060		1.56			59,162		1.55			64,919		1.67			64,824		1.89			64,988		1.97			64,141		1.99					8.4		(1.3)
Total investment securities	119,286		1.10			113,929		1.24			108,875		1.65			105,804		2.19			107,089		2.50			107,550		2.71					(5.6)		0.4
Loans(3)	34,407		2.03			35,826		2.23			35,069		2.90			35,159		3.90			33,517		4.80			34,235		5.18					(4.4)		2.1
Other interest-earning assets	23,767		0.08			22,199		0.83			20,877		2.63			16,635		4.63			17,393		5.71			18,783		6.09					(15.4)		8.0
Total interest-earning assets	258,112		0.82			251,253		1.13			235,910		1.86			243,927		2.87			237,529		3.46			231,985		3.86					(7.7)		(2.3)
Cash and due from banks	4,018					3,829					3,461					3,311					3,639					3,893							1.7		7.0
Other assets	32,880					36,353					35,797					37,108					36,324					39,094							7.5		7.6
Total assets	$	295,010				$	291,435				$	275,168				$	284,346				$	277,492				$	274,972						(5.6)		(0.9)
Liabilities:
Interest-bearing deposits:
U.S.	$	100,073	0.02		%	$	97,273	0.26		%	$	94,636	1.09		%	$	101,056	2.20		%	$	105,261	3.00		%	$	109,015	3.48		%			12.1		3.6
Non-U.S.(4)	83,556		(0.32)			80,055		(0.20)			72,202		0.22			71,736		0.82			66,356		1.07			64,838		1.54					(19.0)		(2.3)
Total interest-bearing deposits(4)	183,629		(0.14)			177,328		0.05			166,838		0.71			172,792		1.62			171,617		2.25			173,853		2.75					(2.0)		1.3
Securities sold under repurchase agreements	2,279		(0.02)			4,486		0.26			3,814		0.23			3,933		0.93			4,409		0.84			4,266		1.25					(4.9)		(3.2)
Federal funds purchased	—		—			7		0.70			—		—			—		—			119		4.70			—		—					nm		nm
Short-term borrowings	872		—			673		0.73			430		0.01			2,756		3.54			1,159		3.72			1,965		4.11					nm		69.5
Long-term debt	14,265		1.82			13,702		2.12			13,958		2.78			14,601		3.87			15,865		4.64			16,735		5.00					22.1		5.5
Other interest-bearing liabilities	2,881		1.50			2,518		3.31			2,536		6.43			2,967		11.84			3,078		13.49			3,595		11.74					42.8		16.8
Total interest-bearing liabilities	203,926		0.02			198,714		0.24			187,576		0.93			197,049		1.95			196,247		2.61			200,414		3.09					0.9		2.1
Non-interest bearing deposits(5)	49,639					51,089					46,464					44,007					38,703					31,978							(37.4)		(17.4)
Other liabilities	14,678					15,969					15,453					17,835					17,691					18,195							13.9		2.8
Preferred shareholders' equity	1,976					1,976					1,976					1,976					1,976					1,976							—		—
Common shareholders' equity	24,791					23,687					23,699					23,479					22,875					22,409							(5.4)		(2.0)
Total liabilities and shareholders' equity	$	295,010				$	291,435				$	275,168				$	284,346				$	277,492				$	274,972						(5.6)		(0.9)

Total deposits	$	233,268				$	228,417				$	213,302				$	216,799				$	210,320				$	205,831						(9.9)		(2.1)

Excess of rate earned over rate paid			0.80		%			0.89		%			0.92		%			0.91		%			0.86		%			0.77		%
Net interest margin			0.80		%			0.94		%			1.11		%			1.29		%			1.31		%			1.19		%
Net interest income, fully taxable-equivalent basis			$	512				$	587				$	662				$	793				$	768				$	691
Tax-equivalent adjustment			(3)					(3)					(2)					(2)					(2)					—
Net interest income, GAAP-basis(4)			$	509				$	584				$	660				$	791				$	766				$	691

(1) Average rates earned and paid on interest-earning assets and interest-bearing liabilities include the impact of hedge activities associated with our asset and liability management activities where applicable.
(2) Reflects the impact of balance sheet netting under enforceable netting agreements of approximately $55 billion, $71 billion, $73 billion and $85 billion in the first, second, third and fourth quarters of 2022, respectively, and approximately $117 billion and $140 billion in the first and second quarters of 2023, respectively. Excluding the impact of netting, the average interest rates would be approximately 0.07%, 0.21%, 0.31% and 0.38% in the first, second, third and fourth quarters of 2022, respectively, and approximately 0.26% and 0.23% in the first and second quarters of 2023, respectively.
(3) Average loans are presented on a gross basis. Average loans net of expected credit losses were approximately $34,320 million, $35,741 million, $34,974 million and $35,063 million in the first, second, third and fourth quarters of 2022 and approximately $33,422 million and $34,124 million in the first and second quarters of 2023, respectively.
(4) Average rates includes the impact of FX swap expense of approximately ($13) million, ($3) million, $16 million and $20 million in the first, second, third and fourth quarters of 2022, respectively, and approximately ($5) million and $22 million in the first and second quarters of 2023, respectively. Average rates for total interest-bearing deposits excluding the impact of FX swap expense were approximately (0.11)%, 0.06%, 0.68% and 1.58% in the first, second, third and fourth quarters of 2022, respectively, and approximately 2.26% and 2.70%, in the first and second quarters of 2023, respectively.
(5) Average non-interest bearing deposits are primarily composed of deposit balances denominated in U.S. dollars.
nm Denotes not meaningful


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
AVERAGE STATEMENT OF CONDITION - RATES EARNED AND PAID - FULLY TAXABLE-EQUIVALENT BASIS - YEAR TO DATE(1)
The following table presents consolidated average interest-earning assets, average interest-bearing liabilities and related average rates earned and paid, respectively, for the years indicated, on a fully taxable-equivalent basis, which is a non-GAAP measure. Tax-equivalent adjustments were calculated using a federal income tax rate of 21% for periods ending in 2022 and 2023, adjusted for applicable state income taxes, net of related federal benefit.
			Year-to-Date														% Change
			2022							2023							YTD2023 vs YTD2022
(Dollars in millions; fully-taxable equivalent basis)	Average balance				Average rates			Average balance				Average rates			Average balance
Assets:
Interest-bearing deposits with banks, net	$	76,635			0.21		%	$	73,127			3.69		%	(4.6)	%
Securities purchased under resale agreements(2)	2,583				3.74			1,638				19.38			(36.6)
Trading account assets	754				0.01			685				—			(9.2)
Investment securities:
Investment securities available-for-sale, net	64,940				0.87			42,759				3.54			(34.2)
Investment securities held-to-maturity, net	51,653				1.55			64,562				1.98			25.0
Total investment securities	116,593				1.17			107,321				2.60			(8.0)
Loans(3)	35,120				2.13			33,878				5.00			(3.5)
Other interest-earning assets	22,979				0.44			18,092				5.91			(21.3)
Total interest-earning assets	254,664				0.97			234,741				3.66			(7.8)
Cash and due from banks	3,923							3,767							(4.0)
Other assets	34,626							37,717							8.9
Total assets	$	293,213						$	276,225						(5.8)
Liabilities:
Interest-bearing deposits:
U.S.	$	98,665			0.14			$	107,148			3.24			8.6
Non-U.S.(4)	81,796				(0.26)			65,593				1.30			(19.8)
Total interest-bearing deposits(4)	180,461				(0.04)			172,741				2.51			(4.3)
Securities sold under repurchase agreements	3,389				0.17			4,337				1.04			28.0
Federal funds purchased	—				—			59				4.70			nm
Short-term borrowings	776				0.32			1,564				3.97			101.5
Long-term debt	13,982				1.97			16,302				4.83			16.6
Other interest-bearing liabilities	2,698				2.34			3,339				12.54			23.8
Total interest-bearing liabilities	201,306				0.13			198,342				2.85			(1.5)
Non-interest bearing deposits(5)	50,368							35,322							(29.9)
Other liabilities	15,326							17,943							17.1
Preferred shareholders' equity	1,976							1,976							—
Common shareholders' equity	24,237							22,642							(6.6)
Total liabilities and shareholders' equity	$	293,213						$	276,225						(5.8)

Total deposits			$	230,829						$	208,063						(9.9)


Excess of rate earned over rate paid					0.84		%					0.81		%
Net interest margin					0.87		%					1.25		%
Net interest income, fully taxable-equivalent basis					$	1,099						$	1,460
Tax-equivalent adjustment					(6)							(3)
Net interest income, GAAP-basis(4)					$	1,093						$	1,457

(1) Average rates earned and paid on interest-earning assets and interest-bearing liabilities include the impact of hedge activities associated with our asset and liability management activities where applicable.
(2) Reflects the impact of balance sheet netting under enforceable netting agreements of approximately $126 billion and $256 billion as of June 30, 2022 and 2023, respectively. Excluding the impact of netting, the average interest rates would be approximately 0.07% and 0.12% for the six months ended June 30, 2022 and 2023, respectively.
(3) Average loans are presented on a gross basis. Average loans net of expected credit losses as of June 30, 2022 and 2023 was approximately $35,035 million and $33,775 million, respectively.
(4) Average rates include the impact of FX swap cost of approximately ($16) million and $16 million for the six months ended June 30, 2022 and 2023, respectively. Average rates for total interest-bearing deposits excluding the impact of FX swap cost were (0.03)% and 2.49% for the six month ended June 30, 2022 and 2023, respectively.
(5) Average non-interest bearing deposits are primarily composed of deposit balances denominated in U.S. dollars.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
SELECTED AVERAGE BALANCES BY CURRENCY - RATES EARNED AND PAID(1)

	2Q23
	USD				EUR				GBP				Other				Total
(Dollars in millions, except where otherwise noted)	Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates

Interest-bearing deposits with banks	$	29,415	5.20	%	$	22,458	3.16	%	$	6,757	4.27	%	$	10,449	2.56	%	$	69,079	4.05	%
Total investment securities	86,066		2.88		9,476		1.49		4,553		2.23		7,455		2.54		107,550		2.71
Loans	27,472		5.27		5,084		4.79		1,016		5.04		663		4.66		34,235		5.18
Total other interest-earning assets(2)	18,962		7.35		312		3.46		172		4.46		1,675		3.28		21,121		6.95
Total interest-earning assets	$	161,915	4.24		$	37,330	2.96		$	12,498	3.60		$	20,242	2.68		$	231,985	3.86

Total interest-bearing deposits(3)(4)	$	106,393	3.74		$	32,670	1.32		$	12,422	1.06		$	22,368	1.11		$	173,853	2.75

Central Bank Rate(5)			5.16				3.20				4.44

	1Q23
	USD				EUR				GBP				Other				Total
(Dollars in millions, except where otherwise noted)	Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates

Interest-bearing deposits with banks	$	32,623	4.74	%	$	23,550	2.32	%	$	7,461	3.69	%	$	13,586	1.72	%	$	77,220	3.37	%
Total investment securities	86,610		2.68		9,038		1.12		3,834		1.78		7,607		2.40		107,089		2.50
Loans	26,814		4.91		4,902		4.12		1,041		5.16		760		4.97		33,517		4.80
Total other interest-earning assets(2)	17,615		7.04		369		4.37		126		4.17		1,593		2.72		19,703		6.62
Total interest-earning assets	$	163,662	3.95		$	37,859	2.29		$	12,462	3.24		$	23,546	2.12		$	237,529	3.46

Total interest-bearing deposits(3)(4)	$	103,951	3.23		$	33,280	0.90		$	12,760	0.82		$	21,626	0.49		$	171,617	2.25

Central Bank Rate(5)			4.69				2.41				3.85

	2Q22
	USD				EUR				GBP				Other				Total
(Dollars in millions, except where otherwise noted)	Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates		Average Balance		Average Rates

Interest-bearing deposits with banks	$	28,656	0.95	%	$	26,958	(0.46)	%	$	8,237	0.89	%	$	12,680	0.55	%	$	76,531	0.36	%
Total investment securities	91,195		1.35		9,426		0.32		4,499		1.03		8,809		1.22		113,929		1.24
Loans	29,083		2.28		4,681		1.73		1,167		2.40		895		3.06		35,826		2.23
Total other interest-earning assets(2)	22,994		1.39		106		—		8		5.51		1,859		0.83		24,967		1.34
Total interest-earning assets	$	171,928	1.44		$	41,171	(0.03)		$	13,911	1.06		$	24,243	0.96		$	251,253	1.13

Total interest-bearing deposits(3)(4)	$	97,906	0.35		$	38,557	(0.54)		$	14,918	0.14		$	25,947	(0.25)		$	177,328	0.05

Central Bank Rate(5)			0.95				(0.50)				0.95

(1) Average rates earned and paid on interest-earning assets and interest-bearing liabilities include the impact of hedge activities associated with our asset and liability management activities where applicable.
(2) Average total other interest-earning assets include securities purchased under resale agreements, trading account assets and other interest-earning assets. Refer to average statement of condition - rates earned and paid - full taxable-equivalent basis for details.
(3) Average rates for interest-bearing deposit balances denominated in U.S. dollars include both client and wholesale deposits.
(4) FX swap costs for interest-bearing deposits are included in other currencies.
(5) Central Bank Rate represents the quarterly average Federal Funds Target Rate for USD, European Central Bank Deposit Facility Rate for EUR, and the Bank of England's Bank Rate for GBP.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
INVESTMENT PORTFOLIO HOLDINGS BY ASSET CLASS

	Quarters
	1Q22				2Q22				3Q22				4Q22				1Q23				2Q23
(Dollars in billions, except where otherwise noted)	Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate
Available-for-sale investment securities:
Government & agency securities	$	42.9	0.72	%	$	30.3	0.73	%	$	23.5	1.33	%	$	21.9	2.16	%	$	23.1	2.74	%	$	24.0	3.20	%
Asset-backed securities	6.7		0.79		6.7		1.22		6.2		2.21		5.9		3.68		5.9		4.43		5.8		5.06
Student loans	0.2		1.43		0.2		2.25		0.1		3.62		0.1		5.39		0.1		7.04		0.1		6.46
Credit cards	0.1		0.93		0.1		1.57		0.1		3.03		0.1		4.58		0.1		5.40		0.1		5.78
Auto & equipment	1.0		(0.01)		0.9		0.16		0.7		0.56		0.7		1.82		0.6		2.74		0.4		3.41
Non-U.S. residential mortgage backed securities	2.1		0.78		2.1		1.08		1.9		2.16		1.7		3.35		1.6		4.00		1.6		4.45
Collateralized loan obligation	3.2		1.06		3.2		1.59		3.1		2.63		3.1		4.23		3.2		4.91		3.3		5.60
Other	0.1		(0.37)		0.2		0.37		0.3		0.87		0.2		2.25		0.3		3.36		0.4		4.12
Mortgage-backed securities	9.8		1.62		3.4		1.22		1.9		1.71		1.8		3.17		2.2		3.72		2.9		4.53
Agency MBS	9.8		1.62		3.4		1.22		1.9		1.71		1.8		3.17		2.2		3.72		2.9		4.53

CMBS	9.2		0.40		8.9		0.59		8.2		1.72		7.5		3.24		6.9		4.60		6.6		5.26
Corporate bonds	3.9		1.02		2.8		1.32		2.1		1.53		2.1		1.87		2.3		2.39		2.4		2.65
Covered bonds	0.1		0.58		0.1		0.64		—		0.64		—		0.66		—		0.65		—		0.69
Municipal bonds	0.6		2.72		0.6		2.87		0.6		2.83		0.9		3.43		0.5		2.91		0.6		0.89
Clipper tax-exempt bonds	0.5		4.07		0.4		4.41		0.4		4.25		0.3		4.36		0.3		4.40		0.2		4.67
Other	1.6		0.86		1.5		0.98		1.1		1.17		0.6		2.55		0.9		2.83		0.9		1.79
Total available-for-sale portfolio	$	75.3	0.83		$	54.7	0.91		$	44.0	1.62		$	41.0	2.67		$	42.1	3.31		$	43.4	3.76

	1Q22				2Q22				3Q22				4Q22				1Q23				2Q23
(Dollars in billions, except where otherwise noted)	Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate
Held-to-maturity investment securities:
Government & agency securities	$	3.5	1.24	%	$	13.7	0.72	%	$	18.0	0.80	%	$	18.0	0.84	%	$	18.8	0.88	%	$	18.9	0.88	%
Asset-backed securities	4.9		1.05		4.5		1.67		4.3		3.04		4.1		4.48		3.8		5.37		3.7		5.73
Student loans	4.9		1.05		4.5		1.67		4.3		3.04		4.1		4.48		3.8		5.37		3.7		5.73


Mortgage-backed securities	30.6		1.67		35.9		1.84		37.4		1.90		37.6		2.12		37.1		2.23		36.3		2.22
Agency MBS	30.6		1.66		35.8		1.84		37.4		1.90		37.6		2.12		37.1		2.23		36.3		2.21
Non-agency MBS	—		12.22		0.1		4.45		—		13.21		—		14.43		—		16.04		—		18.87
CMBS	5.0		1.53		5.1		1.71		5.2		1.80		5.1		1.87		5.3		1.93		5.2		1.94

Total held-for-maturity portfolio	$	44.0	1.56		$	59.2	1.55		$	64.9	1.67		$	64.8	1.89		$	65.0	1.97		$	64.1	1.99

Total investment securities	$	119.3	1.10		$	113.9	1.24		$	108.9	1.65		$	105.8	2.19		$	107.1	2.50		$	107.5	2.71


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
INVESTMENT PORTFOLIO HOLDINGS BY ASSET CLASS (continued)

	Ratings
(Dollars in billions, or where otherwise noted)	UST/AGY			AAA			AA			A			BBB			<BBB			NR			Fair Value		% Total		Net Unrealized Pre-tax MTM Gain/(Loss) (In millions)(1)		Fixed Rate/ Floating Rate(2)
Available-for-sale investment securities:
Government & agency securities	30		%	41		%	25		%	3		%	—		%	1		%	—		%	$	24.0	55.8	%	$	(646)	89% / 11%
Asset-backed securities	—			92			8			—			—			—			—			5.7		13.3		(56)		0% / 100%
Student loans	—			—			100			—			—			—			—			0.1		1.8		(1)
Credit cards	—			100			—			—			—			—			—			0.1		1.6		—
Auto & equipment	—			67			33			—			—			—			—			0.5		9.4		(1)
Non-U.S. residential mortgage backed securities	—			93			6			—			—			1			—			1.5		26.6		(11)
Collateralized loan obligation	—			100			—			—			—			—			—			3.3		57.8		(43)
Other	—			55			45			—			—			—			—			0.2		2.8		—
Mortgage-backed securities	100			—			—			—			—			—			—			3.1		7.3		(109)		99% / 1%
Agency MBS	100			—			—			—			—			—			—			3.1		100.0		(109)
Non-agency MBS	—			—			—			—			—			—			—			—		—		—
CMBS	96			4			—			—			—			—			—			6.2		14.5		(121)		1% / 99%
Corporate bonds	—			1			12			51			36			—			—			2.3		5.3		(119)		89% / 11%
Covered bonds	—			100			—			—			—			—			—			—		—		(1)		100% / 0%
Municipal bonds	—			29			70			1			—			—			—			0.5		1.1		(9)		100% / 0%
Clipper tax-exempt bonds	—			9			69			22			—			—			—			0.2		0.5		(2)		0% / 100%
Other	—			1			48			51			—			—			—			1.0		2.2		(104)		98% / 2%
Total available-for-sale portfolio	38		%	36		%	18		%	5		%	2		%	1		%	—		%	$	43.0	100.0	%	$	(1,167)	65% / 35%

Fair Value	$	16.2		$	15.6		$	7.7		$	2.4		$	0.9		$	0.2		$	—

	UST/AGY			AAA			AA			A			BBB			<BBB			NR			Amortized Cost		% Total		Net Unrealized Pre-tax MTM Gain/(Loss) (In millions)(1)		Fixed Rate/ Floating Rate(2)
Held-to-maturity investment securities:
Government & agency securities	64		%	14		%	18		%	—		%	4		%	—		%	—		%	$	18.6	29.3	%	$	(609)	100% / 0%
Asset-backed securities	—			27			71			—			2			—			—			3.6		5.6		(94)		4% / 96%
Student loans	—			27			71			—			2			—			—			3.6		100.0		(94)


Mortgage-backed securities	100			—			—			—			—			—			—			36.0		56.8		(5,147)		100% / 0%
Agency MBS	100			—			—			—			—			—			—			36.0		100.0		(5,165)
Non-agency MBS	—			8			2			—			36			7			47			—		—		18
CMBS	100			—			—			—			—			—			—			5.3		8.3		(797)		97% / 3%

Total held-for-maturity portfolio	84		%	6		%	9		%	—		%	1		%	—		%	—		%	$	63.5	100.0	%	$	(6,647)	94% / 6%

Amortized Cost	$	53.1		$	3.6		$	5.9		$	—		$	0.9		$	—		$	—

Total Investment Securities(3)																						$	106.5					82% / 18%


(1) At June 30, 2023, the after-tax unrealized MTM gain/(loss) includes after-tax unrealized loss on securities available-for-sale of $848 million, after-tax unrealized loss on securities held-to-maturity of $4,829 million and after-tax unrealized loss primarily related to securities previously transferred from available-for-sale to held-to-maturity of $625 million.
(2) At June 30, 2023, fixed-to-floating rate securities had a book value of approximately $35 million or 0.03% of the total portfolio.
(3) State Street has a highly liquid balance sheet, with more than half of total assets deemed HQLA. Based upon fair value as of June 30, 2023, approximately 87% of our investment portfolio was held in HQLA.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
INVESTMENT PORTFOLIO NON-U.S. INVESTMENTS

				Investment Securities
(Dollars in billions)	Fair Value		Average Rating	Gov't/Agency(1)(2)		ABS FRMBS		ABS All Other		Corporate Bonds		Covered Bonds		Other
Available-for-sale:
Canada	$	4.2	AA	$	3.1	$	—	$	—	$	0.3	$	—	$	0.8
United Kingdom	2.0		AA	1.3		0.4		0.2		0.1		—		—
Australia	2.0		AAA	0.9		0.7		0.1		0.2		—		0.1
Germany	1.5		AAA	1.1		—		0.4		—		—		—
France	1.1		AAA	0.2		—		0.7		0.2		—		—
Austria	1.0		AAA	1.0		—		—		—		—		—
Japan	0.7		AA	0.7		—		—		—		—		—
Netherlands	0.6		AAA	0.1		0.3		0.1		0.1		—		—
Hong Kong	0.4		AAA	0.4		—		—		—		—		—
Italy	0.3		AAA	0.1		0.1		0.1		—		—		—
Singapore	0.3		AAA	0.3		—		—		—		—		—
Brazil	0.2		AA	0.2		—		—		—		—		—
Republic of Korea	0.2		AAA	0.2		—		—		—		—		—
Spain	0.2		AA	0.1		—		0.1		—		—		—
Other	7.6		AAA	7.2		—		—		0.4		—		—
Total Non-U.S. Investments(3)	$	22.3		$	16.9	$	1.5	$	1.7	$	1.3	$	—	$	0.9
U.S. Investments	20.7
Total available-for-sale	$	43.0
				Investment Securities
(Dollars in billions)	Amortized Cost		Average Rating	Gov't/Agency(1)(2)		ABS FRMBS		ABS All Other		Corporate Bonds		Covered Bonds		Other
Held-to-maturity:
Spain	$	0.8	BBB	$	0.8	$	—	$	—	$	—	$	—	$	—
Belgium	0.7		AA	0.7		—		—		—		—		—
France	0.7		AA	0.7		—		—		—		—		—
Ireland	0.4		AA	0.4		—		—		—		—		—
Austria	0.4		AA	0.4		—		—		—		—		—
Germany	0.3		AA	0.3		—		—		—		—		—
Finland	0.2		AA	0.2		—		—		—		—		—
Netherlands	0.2		AAA	0.2		—		—		—		—		—
Canada	0.1		AA	0.1		—		—		—		—		—
Other	3.0		AAA	3.0		—		—		—		—		—
Total Non-U.S. Investments(3)	$	6.8		$	6.8	$	—	$	—	$	—	$	—	$	—
U.S. Investments	56.7
Total held-for-maturity	$	63.5

Total Investment Portfolio	$	106.5


(1) Sovereign debt is reflected in the government / agency column.
(2) As of June 30, 2023, other non-U.S. investments include supranational bonds of $7.2 billion in AFS securities and $3.0 billion in HTM securities.
(3) Country of collateral used except for corporates where country of issuer is used.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
ASSETS UNDER CUSTODY AND/OR ADMINISTRATION

	Quarters												% Change
(Dollars in billions)	1Q22		2Q22		3Q22		4Q22		1Q23		2Q23			2Q23 vs. 2Q22		2Q23 vs. 1Q23
Assets Under Custody and/or Administration(1)
By Product Classification:
Collective funds, including ETFs	$	15,140	$	13,609	$	11,649	$	12,261	$	12,748	$	13,210		(2.9)	%	3.6	%
Mutual funds	10,825		9,642		9,289		9,610		10,077		10,438			8.3		3.6
Pension products	8,191		7,764		7,669		7,734		7,871		8,037			3.5		2.1
Insurance and other products	7,568		7,165		7,081		7,138		6,939		7,904			10.3		13.9
Total Assets Under Custody and/or Administration	$	41,724	$	38,180	$	35,688	$	36,743	$	37,635	$	39,589		3.7		5.2
By Asset Class:
Equities	$	25,249	$	21,953	$	19,889	$	20,575	$	20,966	$	22,454		2.3		7.1
Fixed-income	11,303		10,716		10,150		10,318		10,645		10,812			0.9		1.6
Short-term and other investments	5,172		5,511		5,649		5,850		6,024		6,323			14.7		5.0
Total Assets Under Custody and/or Administration	$	41,724	$	38,180	$	35,688	$	36,743	$	37,635	$	39,589		3.7		5.2
By Geographic Location(2):
Americas	$	31,027	$	28,207	$	26,051	$	26,981	$	27,599	$	28,220		—		2.3
Europe/Middle East/Africa	8,103		7,498		6,990		7,136		7,396		8,658			15.5		17.1
Asia/Pacific	2,594		2,475		2,647		2,626		2,640		2,711			9.5		2.7
Total Assets Under Custody and/or Administration	$	41,724	$	38,180	$	35,688	$	36,743	$	37,635	$	39,589		3.7		5.2
Assets Under Custody(3)
By Product Classification:
Collective funds, including ETFs	$	13,107	$	11,669	$	9,932	$	10,464	$	10,935	$	11,331		(2.9)		3.6
Mutual funds	8,833		7,869		7,594		7,811		8,157		8,447			7.3		3.6
Pension products	6,576		6,215		6,204		6,247		6,355		6,485			4.3		2.0
Insurance and other products	2,931		2,856		2,748		2,714		2,706		2,778			(2.7)		2.7
Total Assets Under Custody	$	31,447	$	28,609	$	26,478	$	27,236	$	28,153	$	29,041		1.5		3.2
By Geographic Location(2):
Americas	$	23,655	$	21,389	$	19,581	$	20,246	$	21,019	$	21,708		1.5		3.3
Europe/Middle East/Africa	5,786		5,309		4,818		4,931		5,039		5,153			(2.9)		2.3
Asia-Pacific	2,006		1,911		2,079		2,059		2,095		2,180			14.1		4.1
Total Assets Under Custody	$	31,447	$	28,609	$	26,478	$	27,236	$	28,153	$	29,041		1.5		3.2

(1) Consistent with past practice, AUC/A values for certain asset classes are based on a lag, typically one-month.
(2) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
(3) Assets under custody are a component of assets under custody and/or administration presented above.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
ASSETS UNDER MANAGEMENT

	Quarters												% Change
(Dollars in billions)	1Q22		2Q22		3Q22		4Q22		1Q23		2Q23			2Q23 vs. 2Q22		2Q23 vs. 1Q23
Assets Under Management
By Asset Class and Investment Approach:
Equity:
Active	$	67	$	62	$	53	$	54	$	60	$	59		(4.8)	%	(1.7)	%
Passive	2,463		2,024		1,890		2,074		2,153		2,288			13.0		6.3
Total Equity	2,530		2,086		1,943		2,128		2,213		2,347			12.5		6.1
Fixed-Income:
Active	98		89		79		83		85		84			(5.6)		(1.2)
Passive	503		461		439		471		490		505			9.5		3.1
Total Fixed-Income	601		550		518		554		575		589			7.1		2.4
Cash(1)	393		403		410		376		375		390			(3.2)		4.0
Multi-Asset-Class Solutions:
Active	33		29		25		28		28		25			(13.8)		(10.7)
Passive	196		173		167		181		203		220			27.2		8.4
Total Multi-Asset-Class Solutions	229		202		192		209		231		245			21.3		6.1
Alternative Investments(2):
Active	51		42		35		35		35		38			(9.5)		8.6
Passive	218		192		167		179		189		188			(2.1)		(0.5)
Total Alternative Investments	269		234		202		214		224		226			(3.4)		0.9
Total Assets Under Management	$	4,022	$	3,475	$	3,265	$	3,481	$	3,618	$	3,797		9.3		4.9
By Geographic Location:
North America	$	2,878	$	2,525	$	2,396	$	2,544	$	2,648	$	2,785		10.3		5.2
Europe/Middle East/Africa	593		521		474		511		521		553			6.1		6.1
Asia-Pacific	551		429		395		426		449		459			7.0		2.2
Total Assets Under Management	$	4,022	$	3,475	$	3,265	$	3,481	$	3,618	$	3,797		9.3		4.9



(1) Includes both floating- and constant-net-asset-value portfolios held in commingled structures or separate accounts.
(2) Includes real estate investment trusts, currency and commodities, including SPDR® Gold Shares and SPDR® Gold MiniSharesSM Trust. We are not the investment manager for the SPDR® Gold Shares and SPDR®Gold MiniSharesSM Trust, but act as the marketing agent.

Exchange-Traded Funds(1)
By Asset Class:
Alternative Investments(2)	$	84	$	77	$	63	$	67	$	73	$	70		(9.1)	%	(4.1)	%

Equity	940		791		734		817		841		919			16.2		9.3
Fixed-Income	134		130		121		134		141		142			9.2		0.7
Multi-Asset	1		1		1		1		1		1			—		—
Total Exchange-Traded Funds	$	1,159	$	999	$	919	$	1,019	$	1,056	$	1,132		13.3		7.2

(1) Exchange-traded funds are a component of assets under management presented above.
(2) Includes real estate investment trusts, currency and commodities, including SPDR® Gold Shares and SPDR® Gold MiniSharesSM Trust. We are not the investment manager for the SPDR® Gold Shares and SPDR®Gold MiniSharesSM Trust, but act as the marketing agent.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
INDUSTRY FLOW DATA BY ASSET CLASS

(Dollars in billions)			Quarters
			1Q22		2Q22		3Q22		4Q22		1Q23		2Q23
North America - (US Domiciled) Morningstar Direct Market Data(1)(2)
	Long Term Funds(3)		$	(66.7)	$	(277.9)	$	(193.0)	$	(352.6)	$	(57.5)	$	(113.3)
	Money Market		(143.4)		(35.1)		(26.0)		147.7		445.1		160.6
	ETF		181.2		93.2		109.9		192.5		78.7		136.2
		Total Flows	$	(28.9)	$	(219.8)	$	(109.1)	$	(12.4)	$	466.3	$	183.5

EMEA-Morningstar Direct Market Data(1)(4)
	Long Term Funds(3)		$	9.7	$	(79.5)	$	(94.1)	$	(6.2)	$	47.4	$	(6.6)
	Money Market		(68.9)		(7.3)		(11.0)		185.3		26.6		58.8
	ETF		45.4		16.0		(8.6)		26.5		37.7		28.9
		Total Flows	$	(13.8)	$	(70.8)	$	(113.7)	$	205.6	$	111.7	$	81.1

(1) Source: Morningstar Direct. The 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.
(2) The second quarter of 2023 data for North America (US domiciled) includes Morningstar actuals for April and May 2023 and Morningstar estimates for June 2023.
(3) The long-term fund flows reported by Morningstar in North America are composed of US domiciled Market flows mainly in Equities, Allocation and Fixed Income asset classes. The long-term funds flows reported by Morningstar direct in EMEA are composed of the European market flows mainly in Equities, Allocation and Fixed Incomes asset classes.
(4) The second quarter of 2023 data for Europe is on a rolling three month basis for March 2023 through May 2023, sourced by Morningstar.


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
LINE OF BUSINESS INFORMATION

	Three Months Ended,
	Investment Servicing										% Change							Investment Management										% Change						Other(1)									% Change				Total									% Change
(Dollars in millions)	2Q22			1Q23			2Q23				2Q23 vs. 2Q22			2Q23 vs. 1Q23				2Q22				1Q23			2Q23			2Q23 vs. 2Q22		2Q23 vs. 1Q23				2Q22			1Q23				2Q23		2Q23 vs. 2Q22		2Q23 vs. 1Q23		2Q22			1Q23			2Q23			2Q23 vs. 2Q22		2Q23 vs. 1Q23
Servicing fees	$	1,297		$	1,217		$	1,259			(2.9)		%	3.5		%		$	—			$	—		$	—		—	%	—		%		$	—		$	—			$	—	—	%	—	%	$	1,297		$	1,217		$	1,259		(2.9)	%	3.5	%
Management fees	—			—			—				—			—				490				457			461			(5.9)		0.9				—			—				—		—		—		490			457			461			(5.9)		0.9
Foreign exchange trading services	313			321			276				(11.8)			(14.0)				18				21			27			50.0		28.6				—			—				—		—		—		331			342			303			(8.5)		(11.4)
Securities finance	102			103			109				6.9			5.8				5				6			8			nm		33.3				—			—				—		—		—		107			109			117			9.3		7.3
Software and processing fees	188			165			221				17.6			33.9				—				—			—			—		—				—			—				—		—		—		188			165			221			17.6		33.9
Other fee revenue	(12)			28			55				nm			96.4				(31)				17			3			nm		(82.4)				—			—				—		—		—		(43)			45			58			nm		28.9
Total fee revenue	1,888			1,834			1,920				1.7			4.7				482				501			499			3.5		(0.4)				—			—				—		—		—		2,370			2,335			2,419			2.1		3.6
Net interest income	588			762			687				16.8			(9.8)				(4)				4			4			nm		—				—			—				—		—		—		584			766			691			18.3		(9.8)
Total other income	(1)			—			—				nm			—				—				—			—			—		—				—			—				—		—		—		(1)			—			—			nm		—
Total revenue	2,475			2,596			2,607				5.3			0.4				478				505			503			5.2		(0.4)				—			—				—		—		—		2,953			3,101			3,110			5.3		0.3
Provision for credit losses	10			44			(18)				nm			nm				—				—			—			—		—				—			—				—		—		—		10			44			(18)			nm		nm
Total expenses	1,767			1,978			1,850				4.7			(6.5)				327				386			361			10.4		(6.5)				14			5				1		(92.9)		(80.0)		2,108			2,369			2,212			4.9		(6.6)
Income before income tax expense	$	698		$	574		$	775			11.0			35.0				$	151			$	119		$	142		(6.0)		19.3				$	(14)		$	(5)			$	(1)	(92.9)		(80.0)		$	835		$	688		$	916		9.7		33.1
Pre-tax margin	28.2		%	22.1		%	29.7		%		1.5		%	7.6		%	pts	31.6		%		23.6		%	28.2		%	(3.4)	%	4.6		%	pts														28.3		%	22.2		%	29.5		%	1.2	%	7.3	%	pts

	Six Months Ended June 30,
	Investment Servicing						% Change				Investment Management							% Change				Other(1)						% Change		Total							% Change
(Dollars in millions)	2022			2023			YTD2023 vs. YTD2022				2022			2023				YTD2023 vs. YTD2022				2022			2023			YTD2023 vs. YTD2022		2022				2023			YTD2023 vs. YTD2022
Servicing fees	$	2,665		$	2,476		(7.1)		%		$	—		$	—			—		%		$	—		$	—		—	%	$	2,665			$	2,476		(7.1)		%
Management fees	—			—			—				1,010			918				(9.1)				—			—			—		1,010				918			(9.1)
Foreign exchange trading services	655			597			(8.9)				35			48				37.1				—			—			—		690				645			(6.5)
Securities finance	195			212			8.7				8			14				75.0				—			—			—		203				226			11.3
Software and processing fees	389			386			(0.8)				—			—				—				—			—			—		389				386			(0.8)
Other fee revenue	34			83			nm				(48)			20				nm				—			—			—		(14)				103			nm
Total fee revenue	3,938			3,754			(4.7)				1,005			1,000				(0.5)				—			—			—		4,943				4,754			(3.8)
Net interest income	1,097			1,449			32.1				(4)			8				nm				—			—			—		1,093				1,457			33.3
Total other income	(2)			—			nm				—			—				—				—			—			—		(2)				—			nm
Total revenue	5,033			5,203			3.4				1,001			1,008				0.7				—			—			—		6,034				6,211			2.9
Provision for loan losses	10			26			nm				—			—				—				—			—			—		10				26			nm
Total expenses	3,692			3,828			3.7				716			747				4.3				27			6			(77.8)		4,435				4,581			3.3
Income before income tax expense	$	1,331		$	1,349		1.4				$	285		$	261			(8.4)				$	(27)		$	(6)		(77.8)		$	1,589			$	1,604		0.9
Pre-tax margin	26.4		%	25.9		%	(0.5)		%	pts	28.5		%	25.9		%		(2.6)		%	pts									26.3		%		25.8		%	(0.5)		%	pts

(1) Represents amounts that are not allocated to a specific line of business, including repositioning charges, employee costs, acquisition costs, revenue-related recoveries and certain legal accruals.
nm Denotes not meaningful


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
ALLOWANCE FOR CREDIT LOSSES

	Quarters													% Change
(Dollars in millions)		1Q22		2Q22		3Q22		4Q22		1Q23		2Q23			2Q23 vs. 2Q22		2Q23 vs. 1Q23
Allowance for credit losses:
Beginning balance		$	108	$	107	$	114	$	114	$	121	$	162		51.4	%	33.9	%
Provision for credit losses (funded commitments)		—		11		3		2		21		12			9.1		(42.9)
Provision for credit losses (unfunded commitments)		—		(1)		(3)		8		(7)		(1)			—		(85.7)
Provision for credit losses (investment securities and all other)		—		—		—		—		30		(29)			nm		nm
Total provision		—		10		—		10		44		(18)			nm		nm
Charge-offs		(1)		(3)		—		(3)		(3)		(8)			nm		nm

Ending balance(1)		$	107	$	114	$	114	$	121	$	162	$	136		19.3		(16.0)

Allowance for credit losses:
Loans		$	86	$	95	$	97	$	97	$	115	$	120		26.3		4.3
Investment securities		2		1		1		2		2		—			nm		nm
Unfunded (off-balance sheet) commitments		19		18		16		23		16		15			(16.7)		(6.3)
All other		—		—		—		(1)		29		1			—		(96.6)
Ending balance(1)		$	107	$	114	$	114	$	121	$	162	$	136		19.3		(16.0)


(1) The allowance for credit losses on unfunded commitments is included within Other liabilities in the Consolidated Statement of Condition.
nm Not meaningful


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
RECONCILIATIONS OF NON-GAAP FINANCIAL INFORMATION
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, 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 present capital ratios, calculated under regulatory standards scheduled to be effective in the future or other standards, that management uses in evaluating State Street’s business and activities and believes may similarly be useful to investors. Additionally, 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.

	Quarters													% Change				Year-to-Date					% Change
(Dollars in millions)		1Q22		2Q22		3Q22		4Q22		1Q23		2Q23			2Q23 vs. 2Q22			2Q23 vs. 1Q23			2022			2023		YTD2023 vs. YTD2022
Fee Revenue:
Total fee revenue, GAAP-basis		$	2,573	$	2,370	$	2,299	$	2,364	$	2,335	$	2,419		2.1	%		3.6	%		$	4,943		$	4,754	(3.8)	%
Less: Fee revenue(1)		—		—		—		(23)		—		—			—			—			—			—		—

Total fee revenue, excluding notable items		$	2,573	$	2,370	$	2,299	$	2,341	$	2,335	$	2,419		2.1			3.6			$	4,943		$	4,754	(3.8)

Total Revenue:
Total revenue, GAAP-basis		$	3,081	$	2,953	$	2,959	$	3,155	$	3,101	$	3,110		5.3	%		0.3	%		$	6,034		$	6,211	2.9	%
Less: Fee revenue(1)		—		—		—		(23)		—		—			—			nm			—			—		—

Total revenue, excluding notable items		$	3,081	$	2,953	$	2,959	$	3,132	$	3,101	$	3,110		5.3			0.3			$	6,034		$	6,211	2.9

Expenses:
Total expenses, GAAP-basis		$	2,327	$	2,108	$	2,110	$	2,256	$	2,369	$	2,212		4.9	%		(6.6)	%		$	4,435		$	4,581	3.3	%
Less: Notable expense items:
Acquisition and restructuring costs(2)		(9)		(12)		(13)		(31)		—		—			nm			—			(21)			—		nm


Repositioning charges(3)		—		—		—		(70)		—		—			—			—			—			—		—


Total expenses, excluding notable items		2,318		2,096		2,097		2,155		2,369		2,212			5.5			(6.6)			4,414			4,581		3.8
Seasonal expenses		(208)		—		—		—		(181)		—			—			nm			(208)			(181)		(13.0)
Total expenses, excluding notable items and seasonal expenses		$	2,110	$	2,096	$	2,097	$	2,155	$	2,188	$	2,212		5.5			1.1			$	4,206		$	4,400	4.6

Fee Operating Leverage, GAAP-Basis:
Total fee revenue, GAAP-basis		$	2,573	$	2,370	$	2,299	$	2,364	$	2,335	$	2,419		2.1	%		3.6	%		$	4,943		$	4,754	(3.8)	%
Total expenses, GAAP-basis		2,327		2,108		2,110		2,256		2,369		2,212			4.9			(6.6)			4,435			4,581		3.3
Fee operating leverage, GAAP-basis(4)															(2.8)	%	pts	10.2	%	pts						(7.1)	%	pts

Fee Operating Leverage, excluding notable items:
Total fee revenue, excluding notable items (as reconciled above)		$	2,573	$	2,370	$	2,299	$	2,341	$	2,335	$	2,419		2.1	%		3.6	%		$	4,943		$	4,754	(3.8)	%
Total expenses, excluding notable items (as reconciled above)		2,318		2,096		2,097		2,155		2,369		2,212			5.5			(6.6)			4,414			4,581		3.8
Fee operating leverage, excluding notable items(5)															(3.4)	%	pts	10.2	%	pts						(7.6)	%	pts

Operating Leverage, GAAP-Basis:
Total revenue, GAAP-basis		$	3,081	$	2,953	$	2,959	$	3,155	$	3,101	$	3,110		5.3	%		0.3	%		$	6,034		$	6,211	2.9	%
Total expenses, GAAP-basis		2,327		2,108		2,110		2,256		2,369		2,212			4.9			(6.6)			4,435			4,581		3.3
Operating leverage, GAAP-basis(6)															0.4	%	pts	6.9	%	pts						(0.4)	%	pts

Operating Leverage, excluding notable items:
Total revenue, excluding notable items (as reconciled above)		$	3,081	$	2,953	$	2,959	$	3,132	$	3,101	$	3,110		5.3	%		0.3	%		$	6,034		$	6,211	2.9	%
Total expenses, excluding notable items (as reconciled above)		2,318		2,096		2,097		2,155		2,369		2,212			5.5			(6.6)			4,414			4,581		3.8
Operating leverage, excluding notable items(7)															(0.2)	%	pts	6.9	%	pts						(0.9)	%	pts


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
RECONCILIATIONS OF NON-GAAP FINANCIAL INFORMATION (Continued)

	Quarters													% Change				Year-to-Date				% Change
(Dollars in millions, except earnings per share, or where otherwise noted)		1Q22		2Q22		3Q22		4Q22		1Q23		2Q23		2Q23 vs. 2Q22		2Q23 vs. 1Q23		2022		2023		YTD2023 vs. YTD2022
Income before income tax expense:
Income before income tax expense GAAP-basis	A	$	754	$	835	$	849	$	889	$	688	$	916	9.7	%	33.1	%	$	1,589	$	1,604	0.9	%
Less: Notable items
Fee revenue(1)		—		—		—		(23)		—		—						—		—
Acquisition and restructuring costs(2)		9		12		13		31		—		—						21		—
Repositioning charges(3)		—		—		—		70		—		—						—		—

Income before income tax expense, excluding notable items	B	$	763	$	847	$	862	$	967	$	688	$	916	8.1		33.1		$	1,610	$	1,604	(0.4)


Net Income:
Net Income GAAP-basis		$	604	$	747	$	690	$	733	$	549	$	763	2.1	%	39.0	%	$	1,351	$	1,312	(2.9)	%
Less: Notable items
Fee revenue(1)		—		—		—		(23)		—		—						—		—

Acquisition and restructuring costs(2)		9		12		13		31		—		—						21		—
Repositioning charges(3)		—		—		—		70		—		—						—		—


Tax impact of notable items		(2)		(3)		(3)		(21)		—		—						(5)		—
Net Income, excluding notable items		$	611	$	756	$	700	$	790	$	549	$	763	0.9		39.0		$	1,367	$	1,312	(4.0)

Net Income Available to Common Shareholders:
Net Income Available to Common Shareholders, GAAP-basis		$	583	$	712	$	669	$	696	$	525	$	726	2.0	%	38.3	%	$	1,295	$	1,251	(3.4)	%
Less: Notable items
Fee revenue(1)		—		—		—		(23)		—		—						—		—

Acquisition and restructuring costs(2)		9		12		13		31		—		—						21		—
Repositioning charges(3)		—		—		—		70		—		—						—		—



Tax impact of notable items		(2)		(3)		(3)		(21)		—		—						(5)		—
Net Income Available to Common Shareholders, excluding notable items		$	590	$	721	$	679	$	753	$	525	$	726	0.7		38.3		$	1,311	$	1,251	(4.6)

Diluted Earnings per Share:
Diluted earnings per share, GAAP-basis		$	1.57	$	1.91	$	1.80	$	1.91	$	1.52	$	2.17	13.6	%	42.8	%	$	3.48	$	3.68	5.7	%
Less: Notable items
Fee revenue(1)		—		—		—		(0.05)		—		—						—		—

Acquisition and restructuring costs(2)		0.02		0.03		0.02		0.07		—		—						0.04		—
Repositioning charges(3)		—		—		—		0.14		—		—						—		—



Diluted earnings per share, excluding notable items		$	1.59	$	1.94	$	1.82	$	2.07	$	1.52	$	2.17	11.9		42.8		$	3.52	$	3.68	4.5


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
RECONCILIATIONS OF NON-GAAP FINANCIAL INFORMATION (Continued)

	Quarters											% Change				Year-to-Date					% Change
(Dollars in millions, except earnings per share, or where otherwise noted)		1Q22		2Q22		3Q22		4Q22		1Q23	2Q23		2Q23 vs. 2Q22			2Q23 vs. 1Q23			2022			2023	YTD2023 vs. YTD2022
Pre-tax Margin:
Pre-tax margin, GAAP-basis		24.5	%	28.3	%	28.7	%	28.2	%	22.2%	29.5%		1.2	%	pts	7.3	%	pts	26.3%			25.8%	(0.5)	%	pts
Less: Notable items
Fee revenue(1)		—		—		—		(0.5)		—	—								—			—

Acquisition and restructuring costs(2)		0.3		0.4		0.4		1.0		—	—								0.4			—
Repositioning charges(3)		—		—		—		2.2		—	—								—			—


Pre-tax margin, excluding notable items		24.8%		28.7%		29.1%		30.9%		22.2%	29.5%		0.8			7.3			26.7%			25.8%	(0.9)

Return on Average Common Equity:
Return on average common equity, GAAP-basis		9.5%		12.1%		11.2%		11.8%		9.3%	13.0%		0.9	%	pts	3.7	%	pts	10.8	%		11.1%	0.3	%	pts
Less: Notable items
Fee revenue(1)		—		—		—		(0.4)		—	—								—			—

Acquisition and restructuring costs(2)		0.2		0.1		0.2		0.5		—	—								0.1			—
Repositioning charges(3)		—		—		—		1.1		—	—								—			—



Tax impact of notable items		—		—		—		(0.3)		—	—								—			—
Return on average common equity, excluding notable items		9.7%		12.2%		11.4%		12.7%		9.3%	13.0%		0.8			3.7			10.9	%		11.1%	0.2

Effective Tax Rate:
Effective tax rate, GAAP-basis		19.9%		10.5%		18.7%		17.6%		20.2%	16.7%		6.2	%	pts	(3.5)	%	pts	15.0	%		18.2%	3.2	%	pts
Less: Notable items
Fee revenue(1)		—		—		—		(0.2)		—	—								—			—
Acquisition and restructuring costs(2)		0.1		0.3		0.1		0.3		—	—								0.1			—
Repositioning charges(3)		—		—		—		0.6		—	—								—			—
Effective tax rate, excluding notable items		20.0%		10.8%		18.8%		18.3%		20.2%	16.7%		5.9			(3.5)			15.1%			18.2%	3.1









(1) Amount in 2022 consists of a $23 million revenue-related recovery related to settlement proceeds from a 2018 foreign exchange benchmark litigation resolution, which is reflected in foreign exchange trading services revenue.

(2) Acquisition and restructuring costs of approximately $65 million in 2022 related to the BBH Investor Services acquisition transaction that State Street is no longer pursuing.



(3) Amount in 2022 includes $50 million of compensation and benefits expenses primarily related to streamlining the Investment Services organization, and $20 million of occupancy charges related to real estate footprint optimization.
(4) Calculated as the period-over-period change in total fee revenue less the period-over-period change in total expenses.
(5) Calculated as the period-over-period change in total fee revenue, excluding notable items less the period-over-period change in total expenses, excluding notable items.
(6) Calculated as the period-over-period change in total revenue less the period-over-period change in total expenses.
(7) 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.
nm Denotes not meaningful


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
RECONCILIATION OF PRE-TAX MARGIN EXCLUDING NOTABLE ITEMS

(Dollars in millions)			2019			2020			2021			2022
Total revenue:
Total revenue, GAAP-basis			$	11,756		$	11,703		$	12,027		$	12,148
		Less: Fees revenue	—			—			—			(23)
		Less: Total other income	(44)			—			(111)			—



Total revenue, excluding notable items			11,712			11,703			11,916			12,125

Provision for credit losses			10			88			(33)			20
Total expenses:
Total expenses, GAAP-basis			9,034			8,716			8,889			8,801
	Less:
		Acquisition and restructuring costs	(77)			(50)			(65)			(65)
		Deferred incentive compensation expense acceleration	—			—			(147)			—
		Legal and other	(172)			9			(18)			—
		Repositioning (charges) / release	(110)			(133)			3			(70)
Total expenses, excluding notable items			8,675			8,542			8,662			8,666
Income before income tax expense, excluding notable items			$	3,027		$	3,073		$	3,287		$	3,439

Income before income tax expense, GAAP-basis			$	2,712		$	2,899		$	3,171		$	3,327

Pre-tax margin, excluding notable items			25.8		%	26.3		%	27.6		%	28.4		%
Pre-tax margin, GAAP-basis			23.1			24.8			26.4			27.4


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
RECONCILIATIONS OF CONSTANT CURRENCY FX IMPACTS

	Reported						Currency Translation Impact					Excluding Currency Impact				% Change Constant Currency
(Dollars in millions)	2Q22		1Q23		2Q23		2Q23 vs. 2Q22		2Q23 vs. 1Q23			2Q23 vs. 2Q22		2Q23 vs. 1Q23		2Q23 vs. 2Q22		2Q23 vs. 1Q23
GAAP-Basis Results:
Fee revenue:
Back office servicing fees	$	1,205	$	1,131	$	1,164	$	1	$	5		$	1,163	$	1,159	(3.5)	%	2.5	%
Middle office services	92		86		95		—		—			95		95		3.3		10.5
Servicing fees	1,297		1,217		1,259		1		5			1,258		1,254		(3.0)		3.0
Management fees	490		457		461		—		1			461		460		(5.9)		0.7
Foreign exchange trading services	331		342		303		—		—			303		303		(8.5)		(11.4)
Securities finance	107		109		117		—		—			117		117		9.3		7.3
Front office software and data	126		109		162		—		—			162		162		28.6		48.6
Lending related and other fees	62		56		59		—		—			59		59		(4.8)		5.4
Software and processing fees	188		165		221		—		—			221		221		17.6		33.9
Other fee revenue	(43)		45		58		—		—			58		58		nm		28.9
Total fee revenue	2,370		2,335		2,419		1		6			2,418		2,413		2.0		3.3
Net interest income	584		766		691		2		4			689		687		18.0		(10.3)
Total other income	(1)		—		—		—		—			—		—		nm		nm
Total revenue	$	2,953	$	3,101	$	3,110	$	3	$	10		$	3,107	$	3,100	5.2		—

Expenses:
Compensation and employee benefits	$	1,046	$	1,292	$	1,123	$	(4)	$	5		$	1,127	$	1,118	7.7		(13.5)
Information systems and communications	392		414		405		—		1			405		404		3.3		(2.4)
Transaction processing services	240		239		235		—		1			235		234		(2.1)		(2.1)
Occupancy	96		94		103		—		1			103		102		7.3		8.5
Acquisition and restructuring costs	12		—		—		—		—			—		—		nm		nm
Amortization of other intangible assets	60		60		60		—		—			60		60		—		—
Other	262		270		286		(1)		—			287		286		9.5		5.9
Total expenses	$	2,108	$	2,369	$	2,212	$	(5)	$	8		$	2,217	$	2,204	5.2		(7.0)

Total expenses, excluding notable items - Non-GAAP	$	2,096	$	2,369	$	2,212	$	(5)	$	8		$	2,217	$	2,204	5.8		(7.0)
Total non-compensation expenses, excluding notable items - Non-GAAP(1)	1,050		1,077		1,089		(1)		3			1,090		1,086		3.8		0.8


GAAP-Basis YTD Comparison	Reported				Currency Translation Impact		Excluding Currency Impact		% Change Constant Currency
(Dollars in millions)	2022		2023		YTD2023 vs.YTD2022		2023		YTD2023 vs. YTD2022
GAAP-Basis Results:
Fee revenue:
Back office servicing fees	$	2,473	$	2,295	$	(18)	$	2,313	(6.5)		%
Middle office services	192		181		(1)		182		(5.2)
Servicing fees	2,665		2,476		(19)		2,495		(6.4)
Management fees	1,010		918		(5)		923		(8.6)
Foreign exchange trading services	690		645		—		645		(6.5)
Securities finance	203		226		(1)		227		11.8
Front office software and data	264		271		(1)		272		3.0
Lending related and other fees	125		115		—		115		(8.0)
Software and processing fees	389		386		(1)		387		(0.5)
Other fee revenue	(14)		103		—		103		nm
Total fee revenue	4,943		4,754		(26)		4,780		(3.3)
Net interest income	1,093		1,457		(5)		1,462		33.8
Total other income	(2)		—		—		—		nm
Total revenue	$	6,034	$	6,211	$	(31)	$	6,242	3.4

Expenses:
Compensation and employee benefits	$	2,278	$	2,415	$	(34)	$	2,449	7.5
Information systems and communications	815		819		(3)		822		0.9
Transaction processing services	504		474		(4)		478		(5.2)
Occupancy	191		197		(3)		200		4.7
Acquisition and restructuring costs	21		—		—		—		nm
Amortization of other intangible assets	121		120		(1)		121		—
Other	505		556		(2)		558		10.5
Total expenses	$	4,435	$	4,581	$	(47)	$	4,628	4.4

Total expenses, excluding notable items - Non-GAAP	$	4,414	$	4,581	$	(47)	$	4,628	4.8
Total non-compensation expenses, excluding notable items - Non-GAAP(1)	2,136		2,166		(13)		2,179		2.0

(1) Total non-compensation expenses, excluding notable items is comprised of total expenses, excluding notable items - Non-GAAP, less compensation and employee benefits, excluding notable items. Compensation and benefits, excluding notable items were $1,123 million in the second quarter of 2023, $1,292 million in the first quarter of 2023 and $1,046 million in the second quarter of 2022.
nm Denotes not meaningful


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
RECONCILIATIONS OF TANGIBLE BOOK VALUE PER SHARE AND RETURN ON TANGIBLE COMMON EQUITY

The tangible book value per common share (TBVPS) and return on tangible common equity (ROTCE) are ratios that management believes provides context about State Street's use of equity. The TBVPS ratio is calculated by dividing the period end tangible common equity by total common shares outstanding. The ROTCE ratio is calculated by dividing year-to-date annualized net income available to common shareholders (GAAP-basis) by average tangible common equity. Period end and average tangible common equity reflected in the TBVPS and ROTCE ratios, are both non-GAAP measures which reduce period end and average common shareholders' equity, by period end and average goodwill and other intangible assets, net of related deferred taxes. Since there is no authoritative requirement to calculate the TBVPS and ROTCE ratios, our TBVPS and ROTCE ratios are not necessarily comparable to similar measures disclosed or used by other companies in the financial services industry. TBVPS and ROTCE are non-GAAP financial measures and should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP or other applicable requirements. Reconciliations with respect to the calculation of these ratios are provided within the Reconciliations of Tangible Book Value per Share and Return on Tangible Common Equity within this addendum.
	Quarters
(Dollars in millions, except per share amounts, or where otherwise noted)	1Q22			2Q22			3Q22			4Q22			1Q23			2Q23
Tangible common equity - period end:
Total shareholders' equity	$	26,224		$	25,767		$	25,648		$	25,191		$	24,750		$	24,204
Less:
Preferred stock	1,976			1,976			1,976			1,976			1,976			1,976
Common shareholders' equity	24,248			23,791			23,672			23,215			22,774			22,228
Less:
Goodwill	7,582			7,465			7,351			7,495			7,530			7,544
Other intangible assets	1,744			1,654			1,568			1,544			1,493			1,435
Plus related deferred tax liabilities	497			491			486			493			496			499
Tangible common shareholders' equity - Non-GAAP	$	15,419		$	15,163		$	15,239		$	14,669		$	14,247		$	13,748

Tangible common equity - average:
Average common shareholders' equity	$	24,791		$	23,687		$	23,699		$	23,479		$	22,875		$	22,409
Less:
Average goodwill	7,599			7,501			7,405			7,422			7,505			7,536
Average other intangible assets	1,782			1,693			1,607			1,553			1,516			1,462
Plus related deferred tax liabilities	499			494			488			490			495			497
Average tangible common shareholders' equity - Non-GAAP	$	15,909		$	14,987		$	15,175		$	14,994		$	14,349		$	13,908

Net income available to common shareholders	$	583		$	712		$	669		$	696		$	525		$	726
Total common shares outstanding - period end (in thousands)	367,115			367,619			367,968			349,024			336,461			322,101

Return on tangible common equity - Non-GAAP	14.7		%	17.3		%	17.3		%	17.7		%	14.6		%	18.0		%
Book value per common share	$	66.05		$	64.72		$	64.33		$	66.51		$	67.69		$	69.01
Tangible book value per common share - Non-GAAP	42.00			41.25			41.41			42.03			42.34			42.68


STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
REGULATORY CAPITAL

		Basel III Advanced Approaches(1)																		Basel III Standardized Approach(2)
(Dollars in millions)		1Q22			2Q22			3Q22			4Q22			1Q23			2Q23				1Q22			2Q22			3Q22			4Q22			1Q23			2Q23
Ratios and Supporting Calculations:







Common equity tier 1 capital	A	$	15,026		$	14,882		$	15,126		$	14,547		$	14,029		$	13,496			$	15,026		$	14,882		$	15,126		$	14,547		$	14,029		$	13,496
Total risk-weighted assets	B	114,969			110,447			107,771			105,359			108,296			106,521				126,725			115,404			114,682			107,227			115,582			114,064
Common equity tier 1 risk-based capital ratio	A/B	13.1		%	13.5		%	14.0		%	13.8		%	13.0		%	12.7		%		11.9		%	12.9		%	13.2		%	13.6		%	12.1		%	11.8		%

Tier 1 capital	C	$	17,002		$	16,858		$	17,102		$	16,523		$	16,005		$	15,472			$	17,002		$	16,858		$	17,102		$	16,523		$	16,005		$	15,472
Tier 1 risk-based capital ratio	C/B	14.8		%	15.3		%	15.9		%	15.7		%	14.8		%	14.5		%		13.4		%	14.6		%	14.9		%	15.4		%	13.8		%	13.6		%

Total capital	D	$	18,588		$	18,239		$	18,482		$	17,899		$	17,374		$	16,854			$	18,693		$	18,352		$	18,594		$	18,019		$	17,535		$	16,982
Total risk-based capital ratio	D/B	16.2		%	16.5		%	17.1		%	17.0		%	16.0		%	15.8		%		14.8		%	15.9		%	16.2		%	16.8		%	15.2		%	14.9		%

Tier 1 capital	E	$	17,002		$	16,858		$	17,102		$	16,523		$	16,005		$	15,472			$	17,002		$	16,858		$	17,102		$	16,523		$	16,005		$	15,472
Leverage exposure(3)	F	285,788			282,526			266,622			275,678			268,747			266,240				285,788			282,526			266,622			275,678			268,747			266,240
Tier 1 leverage ratio	E/F	5.9		%	6.0		%	6.4		%	6.0		%	6.0		%	5.8		%		5.9		%	6.0		%	6.4		%	6.0		%	6.0		%	5.8		%

On-and off-balance sheet leverage exposure		$	264,616		$	263,538		$	250,070		$	246,017		$	244,049		$	249,353			$	264,616		$	263,538		$	250,070		$	246,017		$	244,049		$	249,353
Less: regulatory deductions		(9,222)			(8,909)			(8,546)			(8,668)			(8,745)			(8,732)				(9,222)			(8,909)			(8,546)			(8,668)			(8,745)			(8,732)
Total leverage exposure for SLR	G	255,394			254,629			241,524			237,349			235,304			240,621				255,394			254,629			241,524			237,349			235,304			240,621
Supplementary leverage ratio(4)	E/G	6.7		%	6.6		%	7.1		%	7.0		%	6.8		%	6.4		%		6.7		%	6.6		%	7.1		%	7.0		%	6.8		%	6.4		%

(1) CET1, tier 1 capital, total capital and tier 1 leverage ratios for each period above were calculated in conformity with the advanced approaches provisions of the Basel III final rule. Capital ratios as of June 30, 2023 are estimates.
(2) CET1, tier 1 capital, total capital and tier 1 leverage ratios for each period above were calculated in conformity with the standardized approach provisions of the Basel III final rule. Capital ratios as of June 30, 2023 are estimates.
(3) Leverage exposure is equal to average consolidated total assets less applicable Tier 1 capital deductions.
(4) We are subject to a minimum Supplementary Leverage Ratio or SLR of 3%, and as a U.S. G-SIB, we must maintain a 2% SLR buffer in order to avoid any limitations on distributions to shareholders and discretionary bonus payments to certain executives.

July 14, 2023 NYSE: STT 2Q 2023 Financial Highlights Exhibit 99.3

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 2023 financial results. That news release contains a more detailed discussion of many of the matters described in this presentation and is accompanied by an Addendum with detailed financial tables. This presentation is designed to be reviewed together with that news release and that Addendum, which are available on State Street’s website, at http://investors.statestreet.com, and are 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 2Q23 highlights All comparisons are to corresponding prior year period unless noted otherwise A Subject to the approval by State Street’s Board of Directors. Please refer to endnote 7 for additional information. Refer to the Appendix included with this presentation for endnotes 1 to 22. Financial Performance • EPS of $2.17, up 14% YoY • Total revenue of $3.1B, up 5% YoY, with fee revenue up 2% mainly reflecting higher Front office software and data revenue, Securities finance, and Other fee revenue primarily associated with a tax credit investment accounting change, and NII up 18% 1 • Total expenses of $2.2B, up 5% YoY, primarily driven by higher salaries and continued business investments, partially offset by lower transaction processing costs and productivity savings • Pre-tax margin of 29.5%, up 1.2%pts ‒ Positive operating leverage of 0.4%pts Business momentum Investment Services • AUC/A of $39.6T at quarter-end; business yet to be installed of $2.4T at quarter-end 2 ‒ New servicing wins of $141B primarily reflecting strong sales in the Asset Owners, Official Institutions and Alternatives client segments ‒ $1.2T of AUC/A onboarded in 2Q23 primarily from an Alpha mandate in the Asset Managers client segment • State Street Alpha SM continued to gain momentum, including expanded relationships for existing mandates; 3 Alpha clients went live in 2Q23, resulting in a total of 15 live clients to-date • SaaS client implementations and conversions increased ARR for Front office solutions to $281M, up 12% 3 Investment Management • AUM of $3.8T at quarter-end, with net inflows of $38B across all 3 business lines (ETFs, Cash, Institutional) 2 Awards • Named Securities Services Provider of the Year and Best FX Trading Platform in the Financial News 2023 Trading & Tech Awards 4 • GlobalLink Digital was recognized in the 2023 Markets Choice Awards as Best New Product 5 Balance sheet and capital • ROE of 13.0% and CET1 ratio of 11.8% at quarter end 6 • Returned ~$1.3B of capital in 2Q23, consisting of $1.05B in common share repurchases and $203M of declared common stock dividends • Announced a planned 10% increase to 3Q23 quarterly common stock dividend to $0.69 per share A

4 Summary of 2Q23 financial results A These are non-GAAP presentations; refer to the Appendix for further explanations of non-GAAP measures. Financial results Notable items 2Q22 1Q23 2Q23 Acquisition and restructuring costs ($12) - - EPS impact ($0.03) - - ($M, except EPS data) Quarters A 2Q22 1Q23 2Q23 1Q23 2Q22 Revenue: Back office servicing fees $1,205 $1,131 $1,164 3% (3)% Middle office services 92 86 95 10 3 Servicing fees 1,297 1,217 1,259 3 (3) Management fees 490 457 461 1 (6) Foreign exchange trading services 331 342 303 (11) (8) Securities finance 107 109 117 7 9 Front office software and data 126 109 162 49 29 Lending related and other fees 62 56 59 5 (5) Software and processing fees 188 165 221 34 18 Other fee revenue (43) 45 58 29 nm Total fee revenue 2,370 2,335 2,419 4 2 Net interest income 584 766 691 (10) 18 Total revenue $2,953 $3,101 $3,110 0% 5% Provision for credit losses $10 $44 ($18) nm nm Total expenses $2,108 $2,369 $2,212 (7)% 5% Net income before income taxes $835 $688 $916 33% 10% Net income $747 $549 $763 39% 2% Diluted earnings per share $1.91 $1.52 $2.17 43% 14% Return on average common equity 12.1% 9.3% 13.0% 3.7%pts 0.9%pts Pre-tax margin 28.3% 22.2% 29.5% 7.3%pts 1.2%pts Tax rate 10.5% 20.2% 16.7% (3.5)%pts 6.2%pts Ex-notable items, non-GAAP A : Total revenue $2,953 $3,101 $3,110 0% 5% Total expenses $2,096 $2,369 $2,212 (7)% 6% EPS $1.94 $1.52 $2.17 43% 12% Pre-tax margin 28.7% 22.2% 29.5% 7.3%pts 0.8%pts (GAAP; $M, except EPS data, or where otherwise noted) Quarters %∆

5 AUC/A and AUM levels, markets and flows performance AUC/A ($T, as of period-end) 2 Market indices8 • Up 4% YoY largely driven by higher quarter- end equity market levels and client flows • Up 5% QoQ primarily due to net new business and higher quarter-end market levels • Up 9% YoY mainly reflecting higher quarter- end market levels • Up 5% QoQ primarily due to higher quarter- end market levels and net inflows AUM ($B, as of period-end) 2 Select industry flows 9 +5% +5% $38.2 $37.6 $39.6 2Q22 1Q23 2Q23 2Q22 1Q23 2Q23 $3,475 $3,618 $3,797 +4% +9% A Line items may not sum to total due to rounding. Refer to the Appendix included with this presentation for endnotes 1 to 22. 1Q23 2Q22 EOP 8% 18% Daily Avg 5 2 EOP 2 15 Daily Avg 3 6 EOP (0) (1) Daily Avg (1) (6) EOP 6 14 Daily Avg 4 2 EOP (2) (1) Daily Avg 0 (3) (% change) 2Q23 vs S&P 500 MSCI EAFE MSCI EM Bloomberg Global Agg MSCI ACWI 2Q22 1Q23 2Q23 Long Term Funds $(278) $(58) $(113) Money Market (35) 445 161 ETF 93 79 136 North America Total (220) 466 184 EMEA Total (71) 112 81 ($B) Total flowsA

6 Servicing fees of $1,259M down (3)% YoY and up 3% QoQ • Down (3)% YoY primarily as net new business was more than offset by lower client activity/adjustments and below average pricing headwinds • Up 3% QoQ mainly due to higher average market levels and net new business Back office servicing fees of $1,164M down (3)% YoY and up 3% QoQ, generally consistent with total servicing fees above; Middle office services of $95M increased 3% YoY and 10% QoQ, primarily reflecting net new business Revenue: Servicing fees Servicing fees ($M) 2Q23 performance 1,205 1,126 1,115 1,131 1,164 92 2Q22 93 3Q22 88 4Q22 86 1Q23 95 2Q23 $1,297 $1,219 $1,203 $1,217 $1,259 $2,953 $2,959 $3,155 $3,101 $3,110 YoY +5% QoQ flat Total revenue • Servicing fees were positively impacted by currency translation YoY by $1M and QoQ by $5M Investment Services business momentum2 • New business wins across strategic client segments including new mandates in the Asset Owners, Official Institutions and Alternatives segments • ~50% of new mandates driven by wins from EMEA and APAC • Onboarded $1.2T of AUC/A in 2Q23 primarily in the Asset Managers client segment Refer to the Appendix included with this presentation for endnotes 1 to 22. -3% +3% Back office servicing fees Middle office services -3% +3% YoY % $972 $233 $434 $112 $141 3,632 3,413 3,608 3,647 2,365 AUC/A sales performance indicators ($B) 2 AUC/A wins AUC/A to be installed

7 • ETFs: Strong net inflows into SPY and Sectors suite, as well as SPDR ® Portfolio Low-Cost suite • Institutional: Experienced net inflows, with continued momentum in Indexed Fixed Income and Defined Contribution, including the Target Date franchise, which had net inflows of $3B • Cash: Strong net inflows of $10B primarily from Money Market funds Revenue: Management fees Management fees ($M) 2Q23 performance Management fees of $461M down (6)% YoY and up 1% QoQ • Down (6)% YoY primarily due to net outflows in prior periods and a previously described shift of certain management fees into NII, partially offset by higher average market levelsA • Up 1% QoQ mainly as a result of higher average market levels and Cash net inflows Performance indicators ($B) 2 • Management fees were positively impacted by currency translation QoQ by $1M and nil on a YoY basis 2Q22 3Q22 4Q22 1Q23 2Q23 $490 $472 $457 $457 $461 Investment Management business momentum2 $2,953 $2,959 $3,155 $3,101 $3,110Total revenue -6% +1% AUM $3,475 $3,265 $3,481 $3,618 $3,797 Net flows (QoQ) (62) (9) (17) (26) 38 YoY +5% QoQ flat A Shift of a portion of management fees into NII associated with management fees that is now recognized as NII for certain U.S. ETFs with unique structures. Refer to the Appendix included with this presentation for endnotes 1 to 22.

8 Revenue: Markets, Software and processing, and Other fee revenue $2,953 $2,959 $3,155 $3,101 $3,110 Total Revenue (GAAP) A These are non-GAAP presentations; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. B Other fee revenue primarily consists of income from equity method investments and certain tax-advantaged investments, as well as market-related adjustments. Refer to the Appendix included with this presentation for endnotes 1 to 22. YoY +5% QoQ flat Markets, Software & processing, and Other fees (Ex-notable items, non-GAAP, $M) A 184 45 58 110 216 165 221 319 103 109 117 344 342 303 331 $661 1Q232Q22 107 188 (43) 18(5) 3Q22 4Q22 2Q23 $583 $608 $681 $699 FX trading 10 Securities finance Software & processing (8)% +9% +18% YoY % Other fees B nm • FX trading services of $303M – Down (8)% YoY and (11)% QoQ primarily reflecting lower client FX volumes and FX volatility • Securities finance of $117M – Up 9% YoY primarily from higher Agency spreads – Up 7% QoQ primarily driven by higher Agency and Prime Services (formerly Enhanced Custody) spreads, partially offset by lower Agency balances • Software and processing fees of $221M – Up 18% YoY and 34% QoQ primarily driven by higher front office software and data revenue associated with CRD Front office software and data of $162M up 29% YoY and 49% QoQ Lending related and other of $59M down (5)% YoY and up 5% QoQ • Other fee revenue of $58M B – Increased $101M YoY primarily due to a tax credit investment accounting change and the absence of negative market-related adjustments 1 – Increased $13M QoQ primarily driven by a tax credit investment accounting change, partially offset by the absence of positive fair value adjustments on equity investments 1 2Q23 performance

9 • 2Q23 ARR increased 12% YoY driven by 20+ SaaS client implementations and conversions since 2Q22 • Onboarded $1.1T of AUC/A associated with Alpha mandates and 15 Alpha clients now live Revenue: Enterprise solutions enabled by State Street Alpha 74 78 81 78 82 24 20 16 22 29 25 26 59 47 4Q222Q22 3Q22 $127 1Q23 2Q23 $126 $159 $109 $162 A Front office software and data revenue primarily includes revenue from CRD, Alpha Data Platform and Alpha Data Services. Includes Other revenue of $3M in each quarter from 2Q22 through 1Q23, and $4M in 2Q23. Revenue line items may not sum to total due to rounding. Refer to the Appendix included with this presentation for endnotes 1 to 22. +49% +29% $2,953 $2,959 $3,155 $3,101 $3,110 Total revenue • Up 29% YoY and 49% QoQ primarily driven by higher On-premises renewals and continued SaaS implementations and conversions driving Software- enabled and Professional services revenue growth • Wealth client segment drove strong Front office software and data revenue performance ($M) 2Q22 1Q23 2Q23 Front office metrics New bookings 12 $11 $2 $4 ARR 3 251 273 281 Uninstalled revenue backlog 13 91 100 88 Middle office metric Uninstalled revenue backlog 14 92 104 82 Alpha metrics # of mandate wins 1 1 - Live mandates to-date 12 12 15 Professional services Software- enabled (incl. SaaS) 11 On-premises 11 13% YoY Growth YoY +5% QoQ flat Business momentum Front office software and data ($M) A Future growth driven by Front, Middle and Alpha 2Q23 performance 6

10 Revenue: Net interest income NII and NIM ($M) 15 Average balance sheet highlights ($B) A A Line items are rounded. B Includes Cash and due from banks and Interest-bearing deposits with banks. C Calculated as Operational deposits divided by Total deposits, in the respective periods. Refer to the Appendix included with this presentation for endnotes 1 to 22. 2Q22 3Q22 4Q22 1Q23 2Q23 Total assets $291 $275 $284 $277 $275 Cash B 80 72 87 81 73 Investment portfolio 114 109 106 107 108 HTM % (EOP) 59% 61% 61% 60% 60% Duration (EOP) 16 2.8 2.7 2.6 2.8 2.7 Loans 36 35 35 34 34 Total deposits $228 $213 $217 $210 $206 % operational C 76% 76% 73% 75% 75% $2,953 $2,959 $3,155 $3,101 $3,110 Total revenue NIM 15 (FTE, %) 0.94% 1.11% 1.29% 1.31% 1.19% 2Q22 3Q22 4Q22 1Q23 2Q23 $584 $660 $791 $766 $691 -10% +18% YoY +5% QoQ flat • Average assets declined (6)% YoY and (1)% QoQ • Average deposits declined (10)% YoY and (2)% QoQ • Operational deposits as a percent of total deposits remained consistent • Up 18% YoY largely due to higher short-term market rates from global central bank hikes, an increase in long-term interest rates and balance sheet positioning, partially offset by lower average deposits • Down (10)% QoQ primarily driven by lower average non-interest bearing deposit balances, partially offset by higher short-term market rates from international central bank hikes Assets and liabilities2Q23 performance

11 $2,108 $2,369 $2,212 40,354 42,786 42,688 Expenses of $2,212M up 6% YoY and down (7)% QoQ • Compensation and employee benefits of $1,123M – Up 7% YoY mainly due to higher salaries and headcount – Down (13)% QoQ largely driven by the absence of seasonal expenses B • Information systems and communications of $405M – Up 3% YoY primarily due to higher technology and infrastructure investments, partially offset by optimization savings, insourcing and vendor savings initiatives – Down (2)% QoQ mainly due to credits related to vendor savings initiatives • Transaction processing services of $235M – Down (2)% YoY and QoQ mainly reflecting lower sub-custody costs from vendor credits • Occupancy of $103M – Up 7% YoY and 10% QoQ mainly due to headquarters relocation, temporarily resulting in overlapping cost • Other of $346M 18 – Up 7% YoY largely reflecting higher professional fees – Up 5% QoQ largely due to higher marketing spend and professional fees Expenses GAAP Expenses Headcount 322 330 346 240 239 235 392 414 405 1,046 1,292 1,123 2Q22 1Q23 2Q23 $2,096 $2,369 $2,212 A These are non-GAAP presentations; refer to the Appendix for a reconciliation of ex-notable items/currency translation and further explanations of non-GAAP measures. B 1Q23 includes $181M of seasonal expenses. Refer to the Appendix included with this presentation for endnotes 1 to 22. Comp. & benefits B Info. sys. Tran. processing Other 17,18 Occupancy • Total expenses on both a GAAP and ex-notables basis were positively impacted by currency translation YoY by $5M and negatively impacted QoQ by $8M • Headcount up 6% YoY primarily driven by operational support for business growth segments, technology investments, insourcing, and lower attrition rate; headcount flat QoQ due to productivity and active management 1039496 YoY +5% QoQ -7% +6% -7% YoY +6% QoQ flat Expenses (Ex-notable items, non-GAAP, $M) A 2Q23 performance (Ex-notable items, non-GAAP, $M) A

12 Capital and liquidity highlights Capital ($B unless noted otherwise, capital metrics as of period-end) Capital and liquidity ratios 2Q22 1Q23 2Q23 Standardized CET1 CET1 capital $14.9 $14.0 $13.5 Risk weighted assets 115 116 114 Tier 1 leverage Tier 1 capital 16.9 16.0 15.5 Leverage exposure 22 283 269 266 OCI impact of investment portfolio on regulatory capital B (0.5) 0.2 (0.1) Tier 1 leverage 6.0% 6.4% 6.0% 6.0% 5.8% 2Q22 3Q22 4Q22 1Q23 2Q23 Minimum ratio4.0% STT Target5.25-5.75% • 2Q23 standardized CET1 ratio at quarter-end of 11.8% decreased (0.3)%pts QoQ primarily driven by the continuation of common share repurchases, partially offset by retained earnings • 2Q23 Tier 1 leverage ratio of 5.8% at quarter-end decreased (0.2)%pts QoQ largely due to the continuation of common share repurchases, partially offset by retained earnings and a reduction in average balance sheet size • LCR for State Street Corporation was flat QoQ at 108%; LCR for State Street Bank and Trust Company decreased (4)%pts to 120% 21 • Returned ~$1.3B of capital in 2Q23 consisting of $1.05B of common share repurchases and $203M in common stock dividends – Announced a planned 10% increase to 3Q23 quarterly common stock dividend to $0.69 per share A A Subject to the approval by State Street’s Board of Directors. Please refer to endnote 7 for additional information. B OCI impact of investment portfolio on regulatory capital is a sub-component within GAAP AOCI. Refer to the Appendix included with this presentation for endnotes 1 to 22. CET1 (Standardized) 12.9% 13.2% 13.6% 12.1% 4.5% 2.5% 2Q22 3Q22 4Q22 1Q23 2Q23 11.8% SCB 20 Minimum ratio8 .0 % 10-11% G-SIB surcharge 19 STT Target 1.0% Ratios (%, as of period-end) 6 State Street Bank and Trust LCR21 Requirement Requirement Requirement 122% 116% 120% 124% 120% 100% 2Q22 3Q22 4Q22 1Q23 2Q23

13 Summary All comparisons are to corresponding prior year period unless noted otherwise 2Q23 financial review • EPS of $2.17, up 14%; pre-tax margin of 29.5%; ROE of 13.0% ‒ Fee revenue up 2% mainly driven by higher Front office software and data revenue, Securities finance, and Other fee revenue associated with tax credit investment accounting change 1 ‒ NII up 18% primarily due to higher global interest rates, partially offset by lower deposit balances ‒ Expenses up 5% primarily reflecting higher salaries and continued business investments, partially offset by lower transaction processing costs and continued productivity savings ‒ Positive operating leverage of 0.4%pts Business momentum Investment Services • AUC/A of $39.6T at quarter-end; business yet to be installed of $2.4T at quarter-end 2 ‒ New servicing wins of $141B primarily reflecting strong sales in the Asset Owners, Official Institutions and Alternatives client segments ‒ $1.2T of AUC/A onboarded in 2Q23 primarily from an Alpha mandate in the Asset Managers client segment • State Street Alpha SM continued to gain momentum, including expanded relationships for existing mandates; 3 Alpha clients went live in 2Q23, resulting in a total of 15 live clients to-date • SaaS client implementations and conversions increased ARR for Front office solutions to $281M, up 12% 3 Investment Management • AUM of $3.8T at quarter-end, with net inflows of $38B across all 3 business lines (ETFs, Cash, Institutional) 2 Awards • Named Securities Services Provider of the Year and Best FX Trading Platform in the Financial News 2023 Trading & Tech Awards 4 • GlobalLink Digital was recognized in the 2023 Markets Choice Awards as Best New Product 5 Capital management • Returned ~$1.3B of capital in 2Q23, consisting of $1.05B in common share repurchases and $203M of declared common stock dividends • Announced a planned 10% increase to 3Q23 quarterly common stock dividend to $0.69 per share A A Subject to the approval by State Street’s Board of Directors. Please refer to endnote 7 for additional information. Refer to the Appendix included with this presentation for endnotes 1 to 22.

14 Appendix 2Q23 line of business performance 15 State Street NII trends through cycles 16 Reconciliation of notable items 17 Reconciliation of constant currency impacts 18 Endnotes 19 Forward-looking statements 20 Non-GAAP measures 21 Definitions 22

15 1,920 State StreetC 2Q23 line of business performance Investment Servicing Total revenueA 588 687 1,888 1,920 2Q22 2Q23 $2,475M $2,607M Pre-tax income Fee revenue NII Pre-tax margin 28.2% 29.7% 1.5%pts YoY % ∆ +2% +17% +5% +11% Investment Management Total revenueB 2Q22 2Q23 $478M $503M Pre-tax income Pre-tax margin 31.6% 28.2% -3.4%pts 2Q22 2Q23 $151M $142M YoY % ∆ +5% -6% Total revenue ex-notable itemsA,D 584 691 2,370 2,419 2Q22 2Q23 $2,953M $3,110M Pre-tax income ex-notable itemsC Fee revenue NII Pre-tax margin ex-notable itemsD 28.7% 29.5% 0.8%pts YoY % ∆ +2% +18% +5% +8% A Total revenue also includes Other income of $(1)M in 2Q22. B 2Q23 Total revenue includes $4M in NII and 2Q22 Total revenue includes $(4)M in NII. C State Street includes line of business results from Investment Servicing, Investment Management, and Other. Refer to the Addendum for further line of business information. D This is a non-GAAP presentation; refer to the Appendix for a reconciliation of ex-notable items and further explanations of non-GAAP measures. 2Q22 2Q23 $698M $775M 2Q22 2Q23 $847M $916M

16 512 521 537 514 510 575 603 616 643 659 672 697 673 613 644 636 664 559 478 499 467 467 487 484 509 584 660 791 766 691 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 State Street NII trends through cycles A Represents the quarterly average of the upper limit of the Federal Funds Target range. B Represents the range of quarterly NII over the respective cycle period rounded to the nearest $50M. 165 169 174 174 165 167 162 161 165 163 160 158 155 157 157 164 180 197 189 206 226 242 233 240 233 228 213 217 210 206 0.50 0.50 0.50 0.55 0.80 1.05 1.25 1.30 1.53 1.80 2.01 2.29 2.50 2.50 2.30 1.83 1.40 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.29 0.95 2.37 3.84 4.69 5.16 Total Deposits ($B, Quarterly Avg) Fed Funds (%, Avg) A Quarterly NII ($M) Before prior tightening cycle Prior tightening / easing cycle COVID-19 period Current tightening cycle • Period of low U.S. rates • Negative ECB rate • Slow and steady rate hikes, separated by pauses • Negative ECB rate • Eventual Fed balance sheet contraction • Multi-year equity bull market • Low rate environment globally • Significant Fed balance sheet growth • Flight to quality deposits by many investors • Large, rapid global rate hikes • Upfront Fed balance sheet contraction • Inverted yield curve • Competition from cash deposit alternatives • Equity bear market NII range for the cycle ($M) B $500-550 $600-700 $450-550 General cycle description

17 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 % Change (Dollars in millions, unless noted otherwise) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 2Q23 vs. 2Q22 2Q23 vs. 1Q23 2022 2023 YTD 2023 vs. YTD 2022 Total revenue, GAAP-basis 3,081$ 2,953$ 2,959$ 3,155$ 3,101$ 3,110$ 5.3% 0.3% 6,034$ 6,211$ 2.9% Less: Fee revenue - - - (23) - - - - Total revenue, excluding notable items 3,081 2,953 2,959 3,132 3,101 3,110 5.3% 0.3% 6,034 6,211 2.9% Total expenses, GAAP basis 2,327 2,108 2,110 2,256 2,369 2,212 4.9% (6.6)% 4,435 4,581 3.3% Less: Notable expense items: Acquisition and restructuring costs (9) (12) (13) (31) - - (21) - Repositioning charges - - - (70) - - - - Total expenses, excluding notable items 2,318 2,096 2,097 2,155 2,369 2,212 5.5% (6.6)% 4,414 4,581 3.8% Seasonal expenses (208) - - - (181) - (208) (181) Total expenses, excluding notable items and seasonal expense items 2,110$ 2,096$ 2,097$ 2,155$ 2,188$ 2,212$ 5.5% 1.1% 4,206$ 4,400$ 4.6% Operating leverage, GAAP-basis (%pts)A 0.4% pts 6.9% pts -0.4% pts Operating leverage, excluding notable items (%pts)B -0.2% pts 6.9% pts -0.9% pts Pre-tax margin, GAAP-basis (%) 24.5% 28.3% 28.7% 28.2% 22.2% 29.5% 1.2% pts 7.3% pts 26.3% 25.8% -0.5% pts Notable items as reconciled above (%) 0.3% 0.4% 0.4% 2.7% - - 0.4% - Pre-tax margin, excluding notable items (%) 24.8% 28.7% 29.1% 30.9% 22.2% 29.5% 0.8% pts 7.3% pts 26.7% 25.8% -0.9% pts Net income available to common shareholders, GAAP-basis 583$ 712$ 669$ 696$ 525$ 726$ 2.0% 38.3% 1,295$ 1,251$ (3.4)% Notable items as reconciled above: pre-tax 9 12 13 78 - - 21 - Tax impact on notable items as reconciled above (2) (3) (3) (21) - - (5) - Net income available to common shareholders, excluding notable items 590$ 721$ 679$ 753$ 525$ 726$ 0.7% 38.3% 1,311$ 1,251$ (4.6)% Diluted EPS, GAAP-basis 1.57$ 1.91$ 1.80$ 1.91$ 1.52$ 2.17$ 13.6% 42.8% 3.48$ 3.68$ 5.7% Notable items as reconciled above 0.02 0.03 0.02 0.16 - - 0.04 - Diluted EPS, excluding notable items 1.59$ 1.94$ 1.82$ 2.07$ 1.52$ 2.17$ 11.9% 42.8% 3.52$ 3.68$ 4.5% % Change Year-to-Date

18 Reconciliation of constant currency impacts A Other includes Other expenses and Amortization of intangible assets. Reconciliation of Constant Currency FX Impacts (Dollars in millions) 2Q22 1Q23 2Q23 2Q23 vs. 2Q22 2Q23 vs. 1Q23 2Q23 vs. 2Q22 2Q23 vs. 1Q23 2Q23 vs. 2Q22 2Q23 vs. 1Q23 Non-GAAP basis Total revenue, excluding notable items $ 2,953 $ 3,101 $ 3,110 $ 3 $ 10 $ 3,107 $ 3,100 5.2% (0.0)% Compensation and employee benefits, excluding notable items $ 1,046 $ 1,292 $ 1,123 $ (4) $ 5 $ 1,127 $ 1,118 7.7% (13.5)% Information systems and communications, excluding notable items 392 414 405 - 1 405 404 3.3% (2.4)% Transaction processing services, excluding notable items 240 239 235 - 1 235 234 (2.1)% (2.1)% Occupancy, excluding notable items 96 94 103 - 1 103 102 7.3% 8.5% Other expenses, excluding notable itemsA 322 330 346 (1) - 347 346 7.8% 4.8% Total expenses, excluding notable items $ 2,096 $ 2,369 $ 2,212 $ (5) $ 8 $ 2,217 $ 2,204 5.8% (7.0)% Reported Currency Translation Impact Excluding Currency Impact % Change Constant Currency

19 Endnotes 1. In March 2023, the Financial Accounting Standards Board issued new accounting guidance that expands the use of proportional amortization accounting to other types of tax credit investments regardless of the tax credit program from which the income tax credits are received. We adopted the new standard in the second quarter of 2023, effective January 1, 2023 for renewable energy production tax credit investments under the modified retrospective approach. The impact of adoption results in an increase in Other fee revenue, an increase in Tax expense and was not material to net income. 2. New asset servicing mandates, including announced Alpha 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. Consistent with past practice, AUC/A values for certain asset classes are based on a lag, typically one-month. Generally, our servicing fee revenues are affected by several factors, and we provide varied services from our full suite of offerings to different clients. The basis for fees will also differ across regions and clients and can reflect pricing pressures traditionally experienced in our industry. 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 also are generally affected by various factors, including investment product type and strategy and relationship pricing for clients, and are more sensitive to market valuations than are servicing fees. Therefore, no assumption should be drawn from management fees associated with changes in AUM levels. 3. Front office software and data annual recurring revenue (ARR), an operating metric, is calculated by annualizing current quarter revenue for CRD and Mercatus and includes the annualized amount of most software-enabled revenue, including revenue generated from SaaS, maintenance and support revenue, FIX, and value-added services, which are all expected to be recognized ratably over the term of client contracts. Front office software and data ARR does not include software-enabled brokerage revenue, revenue from affiliates and licensing fees (excluding the portion allocated to maintenance and support) from on-premises software. 4. State Street was voted by a panel of independent judges and editorial staff as the Securities Services Provider of the Year and FX Connect as the Best Foreign Exchange Trading Platform in the Financial News 2023 Excellence in Trading & Tech Awards. 5. GlobalLink Digital was named “The Best New Product” at Markets Media Group’s 2023 U.S. Markets Choice Awards. 6. 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. 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 2Q22 to 2Q23. Refer to the Addendum for descriptions of these ratios. June 30, 2023 capital ratios are presented as of quarter-end and are preliminary estimates. 7. State Street’s Board of Directors will consider the common stock dividend at a regularly scheduled board meeting in 3Q23. State Street’s 3Q23 common stock and other stock dividends, including the declaration, timing and amount, remain subject to consideration and approval by State Street’s Board of Directors at the relevant times. 8. The index names listed are service marks of their respective owners. 9. Data presented for indicative purposes. Morningstar data includes long-term mutual funds, ETFs 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. 2Q23 data for North America (U.S. domiciled) includes Morningstar actuals for April and May 2023 and Morningstar estimates for June 2023. 2Q23 data for EMEA is on a rolling three month basis for March 2023 through May 2023. 10. FX trading services in 4Q22 included notable items related to a revenue-related recovery of $23M. 11. On-premises revenue is revenue derived from locally installed software. Software-enabled revenue includes SaaS, maintenance and support revenue, FIX, brokerage, and value-add services. The revenue recognition pattern for on-premises installations differs from software- enabled revenue. 12. Front office bookings represent signed ARR contract values for CRD, Mercatus, Alpha Data Platform, and Alpha Data Services excluding bookings with affiliates, including SSGA. Front office revenue derived from affiliate agreements is eliminated in consolidation for financial reporting purposes. 13. Represents expected ARR from signed client contracts that are scheduled to be largely installed over the next 24 months for CRD, Mercatus and Alpha Data Services. It includes SaaS revenue, as well as maintenance and support revenue, and excludes the one-time impact of on-premises license revenue, revenue generated from FIX, brokerage, value-add services, and professional services as well as revenue from affiliates. 14. Represents expected annual revenue from signed client contracts that are scheduled to be largely installed over the next 24 months. This amount of expected revenue is estimated based on factors present on or about the time the contract was signed (and is not updated based on subsequent developments, including changes in assets, market valuations and scope). It does not include professional services revenue or revenue from affiliates. 15. NII is presented on a GAAP-basis. NIM is presented on a fully taxable-equivalent (FTE) basis, and is calculated by dividing FTE NII by average total interest-earning assets. Refer to the Addendum for reconciliations of NII FTE-basis to NII GAAP-basis on the Average Statement of Condition. 16. Duration as of period end and based on the total investment portfolio. 17. Other includes Other expenses and Amortization of intangible assets. 18. Other expenses in 2Q22 included a notable item related to acquisition and restructuring costs of $12M. Excluding this notable item, 2Q23 adjusted Other expenses of $346M was up 7% compared to 2Q22 adjusted Other expenses of $322M. 19. State Street received a regulatory exemption to maintain its 1.0% G-SIB capital surcharge until January 1, 2024. 20. The SCB of 2.5% effective on October 1, 2023 is calculated based upon the results of the CCAR 2023 exam. 21. State Street Bank and Trust's (SSBT) LCR is significantly higher than State Street Corporation's (SSC) LCR, primarily due to application of the transferability restriction in the U.S. LCR Final Rule to the calculation of SSC’s LCR. This restriction limits the amount of HQLA held at SSC’s principal banking subsidiary, SSBT and available for the calculation of SSC’s LCR to the amount of net cash outflows of SSBT. This transferability restriction does not apply in the calculation of SSBT’s LCR, and therefore SSBT’s LCR reflects the full benefit of all of its HQLA holdings. LCR for 4Q22, as presented, was revised in 1Q23 from prior reporting to reflect corrections to maturity dates, increasing the amount of encumbered securities collateral associated with certain repurchase agreements. 22. Leverage exposure is equal to average consolidated assets less applicable Tier 1 leverage capital reductions under regulatory standards.

20 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 strategy, growth and sales prospects, capital management, business, financial and capital condition, results of operations, the financial and market outlook and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “priority,” “will,” “expect,” "intend," "aim," "outcome," "future," “strategy,” "pipeline," “trajectory,” "target," “guidance,” “objective,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “trend,” 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. 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; We could be adversely affected by geopolitical, economic and market conditions, including, for example, as a result of liquidity or capital deficiencies (actual or perceived) by other financial institutions and related market and government actions, the ongoing war in Ukraine, actions taken by central banks to address inflationary pressures, challenging conditions in global equity markets, periods of significant volatility in valuations and liquidity or other disruptions in the markets for equity, fixed income and other asset classes globally or within specific markets such as those that impacted the UK gilts in the fourth quarter of 2022; Our development and completion of new products and services, including State Street AlphaSM or State Street DigitalSM, and the enhancement of our infrastructure required to meet increased regulatory and client expectations for resiliency and the systems and process re-engineering necessary to achieve improved productivity and reduced operating risk, involve costs, risks and dependencies on third parties; Our business may be negatively affected by our failure to update and maintain our technology infrastructure or as a result of a cyber-attack or similar vulnerability in our or business partners' infrastructure; 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 have significant international operations and clients that can be adversely impacted by developments in European and Asian economies; Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets, governmental action or monetary policy. For example, among other risks, increases in prevailing interest rates could lead to reduced levels of client deposits and resulting decreases in our NII; Our business activities expose us to interest rate risk; We assume significant credit risk of counterparties, who may also have substantial financial dependencies on other financial institutions, and these credit exposures and concentrations could expose us to financial loss; Our fee revenue represents a significant portion of our revenue and is subject to decline based on, among other factors, market and currency declines, investment activities and preferences of our clients and their business mix; If we are unable to effectively manage our capital and liquidity, our 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 regulatory capital, credit (counterparty and otherwise) and liquidity standards and considerations; We face extensive and changing governmental regulation in the jurisdictions in which we operate, which may increase our costs and compliance risks and may affect our business activities and strategies; 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; Our businesses may be adversely affected by increased political and regulatory scrutiny of asset management stewardship and corporate ESG practices; Our efforts to improve our billing processes and practices are ongoing and may result in the identification of additional billing errors; 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 results of operations and financial condition; 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; We could face liabilities for withholding and other non-income taxes, including in connection with our services to clients, as a result of tax authority examinations; Our internal control environment may be inadequate, fail or be circumvented, and operational risks could adversely affect our business and consolidated results of operations; Shifting operational activities to non-U.S. jurisdictions, changing our operating model and outsourcing portions of our operations to third parties may expose us to increased operational risk, geopolitical risk and reputational harm and may not result in expected cost savings or operational improvements; Attacks or unauthorized access to our or our business partners' information technology systems or facilities, or disruptions to our or their operations, could result in significant costs, reputational damage and impacts on our business activities; Long-term contracts and customizing service delivery for clients 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 or may infringe upon the rights of third parties; The quantitative models we use to manage our business may contain errors that could adversely impact our business and regulatory compliance; 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, and regulatory responses to such risks, could adversely affect us; 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; and the transition away from LIBOR may result in additional costs and increased risk exposure. Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2022 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.

21 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”.

22 Definitions ACWI All Country World Index AOCI Accumulated other comprehensive income APAC Asia-Pacific ARR Annual recurring revenue AUC/A Assets under custody and/or administration AUM Assets under management Bloomberg Global Aggregate Bloomberg Global Aggregate represents Bloomberg Global Aggregate Bond Index CET1 ratio Common equity tier 1 ratio CRD Charles River Development ECB European Central Bank EAFE Europe, Australia, and Far East 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 Fed The Federal Reserve System FIX The Charles River Network's FIX Network Service (CRN) is an end-to-end trade execution and support service facilitating electronic trading between Charles River's asset management and broker clients Front office uninstalled revenue backlog Represents the annualized recurring revenue from signed client contracts that are scheduled to be fully installed over the next 24 months for CRD, Mercatus and Alpha Data Services. It includes SaaS revenue as well as maintenance and support revenue and excludes the one-time impact of on-premises license revenue, revenue generated from FIX, brokerage, value-add services, and professional services as well as revenue from affiliates FTE Fully taxable-equivalent FX Foreign exchange GAAP Generally accepted accounting principles in the United States G-SIB Global systemically important bank HQLA High Quality Liquid Asset HTM Held-to-maturity LIBOR London Inter-Bank Offered Rate LCR Liquidity Coverage Ratio Lending related and other Lending related and other fees primarily consist of fee revenue associated with State Street’s fund finance, leveraged loans, municipal finance, insurance and stable value wrap businesses Middle office uninstalled revenue backlog Represents the annualized recurring revenue from signed client contracts that are scheduled to be fully installed over the next 24 months. It does not include professional services revenue or revenue from affiliates MSCI Morgan Stanley Capital International Net income before income taxes (NIBT) Income before income tax expense Net interest income (NII) Income earned on interest bearing assets less interest paid on interest bearing liabilities Net interest margin (NIM) (FTE) Fully taxable-equivalent (FTE) Net interest income divided by average total interest-earning assets nm Not meaningful OCI Other comprehensive income On-premises On-premises revenue as recognized in Front office software and data Operating leverage Rate of growth of total revenue less the rate of growth of total expenses, relative to the corresponding prior year period, as applicable Payout ratio Total payout ratio is equal to common stock dividends and common stock purchases as a percentage of net income available to common shareholders Pre-tax margin Income before income tax expense divided by total revenue Operational deposits Client cash deposits that are required for or related to the underlying transaction activity of their accounts, and accordingly, are historically more stable than other transient cash deposits %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 RWA Risk weighted assets SaaS Software as a service SCB Stress capital buffer Seasonal expenses Seasonal deferred incentive compensation expenses for retirement-eligible employees and payroll taxes SEC Securities Exchange Commission SPY SPDR® S&P 500® ETF Trust SPDR Standard and Poor's Depository Receipt SSGA State Street Global Advisors Year-over-year (YoY) Current period compared to the same period a year ago

Cover page Entities	Jul. 14, 2023
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 Congress Street
Entity Central Index Key	0000093751
Document Type	8-K
Entity Incorporation, State or Country Code	MA
Document Period End Date	Jul. 14, 2023
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	02114
Pre-commencement Issuer Tender Offer	false

Cover page Entity listing	Jul. 14, 2023
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