Document


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

(Dollars in millions, except per share amounts, or where otherwise noted)	2020			2021			2022			2023
Year ended December 31:
Total fee revenue	$	9,499		$	10,012		$	9,606		$	9,480
Net interest income	2,200			1,905			2,544			2,759
Other income	4			110			(2)			(294)
Total revenue	11,703			12,027			12,148			11,945
Provision for credit losses	88			(33)			20			46
Total expenses	8,716			8,889			8,801			9,583
Income before income tax expense	2,899			3,171			3,327			2,316
Income tax expense	479			478			553			372

Net income	2,420			2,693			2,774			1,944
Net income available to common shareholders	$	2,257		$	2,572		$	2,660		$	1,821
Per common share:
Diluted earnings per common share	$	6.32		$	7.19		$	7.19		$	5.58
Average diluted common shares outstanding (in thousands)	357,106			357,962			370,109			326,568
Cash dividends declared per common share	$	2.08		$	2.18		$	2.40		$	2.64
Closing price per share of common stock (at year end)	72.78			93.00			77.57			77.46
Average balance sheet:
Investment securities	$	109,175		$	111,730		$	111,929		$	105,765
Total assets	269,334			299,743			286,430			274,696
Total deposits	193,225			235,404			222,874			205,111
Ratios and other metrics:
Return on average common equity	10.0		%	10.7		%	11.1		%	8.2		%
Return on average tangible common equity(1)	16.7			17.2			17.4			13.3



Pre-tax margin	24.8			26.4			27.4			19.4
Pre-tax margin, excluding notable items(2)	26.3			27.6			28.4			26.4
Net interest margin, fully taxable-equivalent basis	0.97			0.74			1.03			1.20
Common equity tier 1 ratio(3)(4)	12.3			14.3			13.6			11.6
Tier 1 capital ratio(3)(4)	14.4			16.1			15.4			13.4
Total capital ratio(3)(4)	15.3			17.5			16.8			15.2
Tier 1 leverage ratio(3)	6.4			6.1			6.0			5.5
Supplementary leverage ratio(3)	8.1			7.4			7.0			6.2
Assets under custody and/or administration (in trillions)	$	38.79		$	43.68		$	36.74		$	41.81
Assets under management (in trillions)	3.47			4.14			3.48			4.13

(1) Return on average tangible common equity is calculated by dividing the net income available to common shareholders (GAAP-basis) for the relevant period 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.
(2) 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.
(3) The capital ratios presented are calculated in conformity with the applicable regulatory guidance in effect as of each period end.

(4) 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)	1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24		3Q24 vs. 3Q23		3Q24 vs. 2Q24		2023		2024		YTD2024 vs. YTD2023

Fee revenue:
Back office services	$	1,131	$	1,164	$	1,138	$	1,128	$	1,136	$	1,146	$	1,167	2.5	%	1.8	%	$	3,433	$	3,449	0.5	%
Middle office services	86		95		96		84		92		93		99		3.1		6.5		277		284		2.5
Servicing fees	1,217		1,259		1,234		1,212		1,228		1,239		1,266		2.6		2.2		3,710		3,733		0.6
Management fees	457		461		479		479		510		511		527		10.0		3.1		1,397		1,548		10.8
Foreign exchange trading services	342		303		313		307		331		336		374		19.5		11.3		958		1,041		8.7
Securities finance	109		117		103		97		96		108		116		12.6		7.4		329		320		(2.7)
Front office software and data	109		162		130		179		144		152		146		12.3		(3.9)		401		442		10.2
Lending related and other fees	56		59		58		58		63		62		62		6.9		—		173		187		8.1
Software and processing fees	165		221		188		237		207		214		208		10.6		(2.8)		574		629		9.6
Other fee revenue	45		58		44		33		50		48		125		nm		nm		147		223		51.7
Total fee revenue	2,335		2,419		2,361		2,365		2,422		2,456		2,616		10.8		6.5		7,115		7,494		5.3
Net interest income:
Interest income	2,027		2,232		2,328		2,593		2,889		2,998		3,081		32.3		2.8		6,587		8,968		36.1
Interest expense	1,261		1,541		1,704		1,915		2,173		2,263		2,358		38.4		4.2		4,506		6,794		50.8
Net interest income	766		691		624		678		716		735		723		15.9		(1.6)		2,081		2,174		4.5
Other income:
Gains (losses) related to investment securities, net	—		—		(294)		—		—		—		(80)		72.8		nm		(294)		(80)		72.8

Total other income	—		—		(294)		—		—		—		(80)		72.8		nm		(294)		(80)		72.8
Total revenue	3,101		3,110		2,691		3,043		3,138		3,191		3,259		21.1		2.1		8,902		9,588		7.7
Provision for credit losses	44		(18)		—		20		27		10		26		nm		nm		26		63		nm
Expenses:
Compensation and employee benefits	1,292		1,123		1,082		1,247		1,252		1,099		1,134		4.8		3.2		3,497		3,485		(0.3)
Information systems and communications	414		405		411		473		432		454		463		12.7		2.0		1,230		1,349		9.7
Transaction processing services	239		235		241		242		248		250		255		5.8		2.0		715		753		5.3
Occupancy	94		103		101		128		103		106		105		4.0		(0.9)		298		314		5.4
Acquisition and restructuring costs	—		—		—		(15)		—		—		—		—		—		—		—		—
Amortization of other intangible assets	60		60		60		59		60		60		56		(6.7)		(6.7)		180		176		(2.2)
Other	270		286		285		688		418		300		295		3.5		(1.7)		841		1,013		20.5
Total expenses	2,369		2,212		2,180		2,822		2,513		2,269		2,308		5.9		1.7		6,761		7,090		4.9
Income before income tax expense	688		916		511		201		598		912		925		81.0		1.4		2,115		2,435		15.1
Income tax expense	139		153		89		(9)		135		201		195		nm		(3.0)		381		531		39.4
Net income	$	549	$	763	$	422	$	210	$	463	$	711	$	730	73.0		2.7		$	1,734	$	1,904	9.8


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)		1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24		3Q24 vs. 3Q23		3Q24 vs. 2Q24		2023		2024		YTD2024 vs. YTD2023
Adjustments to net income:
Dividends on preferred stock		$	(23)	$	(37)	$	(24)	$	(38)	$	(45)	$	(55)	$	(48)	(100.0)	%	12.7	%	$	(84)	$	(148)	(76.2)	%
Earnings allocated to participating securities		(1)		—		—		—		—		(1)		—		—		nm		(1)		(1)		—
Net income available to common shareholders		$	525	$	726	$	398	$	172	$	418	$	655	$	682	71.4		4.1		$	1,649	$	1,755	6.4

Per common share:
Basic earnings		$	1.54	$	2.20	$	1.27	$	0.56	$	1.38	$	2.18	$	2.29	80.3		5.0		$	5.03	$	5.85	16.3
Diluted earnings		1.52		2.17		1.25		0.55		1.37		2.15		2.26		80.8		5.1		4.97		5.77		16.1
Average common shares outstanding (in thousands):
Basic		341,106		329,383		313,147		306,198		301,991		300,564		297,365		(5.0)		(1.1)		327,776		299,964		(8.5)
Diluted		345,472		333,540		317,329		310,419		305,943		304,765		301,847		(4.9)		(1.0)		332,011		304,176		(8.4)
Cash dividends declared per common share		$	0.63	$	0.63	$	0.69	$	0.69	$	0.69	$	0.69	$	0.76	10.1		10.1		$	1.95	$	2.14	9.7
Closing price per share of common stock (as of quarter end)		75.69		73.18		66.96		77.46		77.32		74.00		88.47		32.1		19.6		66.96		88.47		32.1
Book value per common share		$	67.69	$	69.01	$	70.14	$	72.27	$	72.85	$	74.50	$	78.22	11.5		5.0		$	70.14	$	78.22	11.5
Tangible book value per common share(1)		42.34		42.68		43.07		44.22		45.06		46.10		49.22		14.3		6.8		43.07		49.22		14.3
Balance sheet averages:
Investment securities		$	107,089	$	107,550	$	104,995	$	103,474	$	101,318	$	105,098	$	107,364	2.3		2.2		$	106,537	$	104,603	(1.8)
Total assets		277,492		274,972		267,727		278,659		298,570		306,298		314,640		17.5		2.7		273,361		306,532		12.1
Total deposits		210,320		205,831		197,869		206,544		218,892		220,881		225,482		14.0		2.1		204,628		221,765		8.4








Ratios and other metrics:
Effective tax rate	20.2		%	16.7		%	17.4		%	(4.4)		%	22.5		%	22.1		%	21.1		%	3.7	%	pts	(1.0)	%	pts	18.0		%	21.8		%	3.8	%	pts
Return on average common equity	9.3			13.0			7.3			3.1			7.7			11.9			12.0			4.7			0.1			9.9			10.6			0.7
Return on average tangible common equity(2)	14.6			20.9			12.0			5.1			12.4			19.3			19.3			7.3			—			15.9			17.1			1.2
Pre-tax margin	22.2			29.5			19.0			6.6			19.1			28.6			28.4			9.4			(0.2)			23.8			25.4			1.6
Pre-tax margin, excluding notable items(3)	22.2			29.5			27.0			27.0			23.2			28.6			28.4			1.4			(0.2)			26.2			26.8			0.6
Net interest margin, fully taxable-equivalent basis	1.31			1.19			1.12			1.16			1.13			1.13			1.07			(0.05)			(0.06)			1.21			1.11			(0.10)
Common equity tier 1 ratio(4)(5)	12.1			11.8			11.0			11.6			11.1			11.2			11.6			0.6			0.4			11.0			11.6			0.6
Tier 1 capital ratio(4)(5)	13.8			13.6			12.7			13.4			13.2			13.3			13.9			1.2			0.6			12.7			13.9			1.2
Total capital ratio(4)(5)	15.2			14.9			14.0			15.2			14.9			15.0			15.6			1.6			0.6			14.0			15.6			1.6
Tier 1 leverage ratio(4)	6.0			5.8			5.8			5.5			5.4			5.3			5.5			(0.3)			0.2			5.8			5.5			(0.3)
Supplementary leverage ratio(4)	6.8			6.4			6.3			6.2			6.5			6.3			6.4			0.1			0.1			6.3			6.4			0.1

Assets under custody and/or administration (in billions)	$	37,635		$	39,589		$	40,017		$	41,810		$	43,912		$	44,312		$	46,759		16.8	%		5.5	%		$	40,017		$	46,759		16.8	%
Assets under management (in billions)	3,613			3,787			3,672			4,102			4,299			4,369			4,732			28.9			8.3			3,672			4,732			28.9
Average securities on loan(6)	355,150			298,145			283,855			283,048			301,247			334,675			349,113			23.0			4.3			312,122			328,421			5.2

(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 average tangible common equity is calculated by dividing annualized net income available to common shareholders (GAAP-basis) for the relevant period by average tangible common equity (non-GAAP). Beginning in the third quarter of 2024, quarterly annualized net income available to common shareholders is utilized in the quarterly return on average tangible common equity calculation as compared to year-to-date annualized net income available to common shareholders utilized in prior quarters. Prior quarterly periods have been revised to conform to the current presentation. 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 September 30, 2024 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) End-of-period securities on loan were $362,438 million, $290,515 million, $280,408 million and $293,331 million at March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, respectively, and $339,940 million, $339,111 and $378,713 million at March 31, 2024, June 30, 2024, September 30, 2024, 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, 2023		June 30, 2023		September 30, 2023		December 31, 2023		March 31, 2024		June 30, 2024		September 30, 2024			3Q24 vs. 3Q23		3Q24 vs. 2Q24
Assets:
Cash and due from banks		$	3,698	$	3,930	$	4,009	$	4,047	$	3,413	$	2,898	$	4,067		1.4	%	40.3	%
Interest-bearing deposits with banks, net		87,935		86,048		76,756		87,665		125,486		99,876		105,121			37.0		5.3
Securities purchased under resale agreements		1,134		1,668		1,816		6,692		7,489		6,340		8,334			nm		31.5
Trading account assets		695		715		725		773		760		780		802			10.6		2.8
Investment securities:
Investment securities available-for-sale, net		42,841		43,046		41,546		44,526		48,640		56,755		56,853			36.8		0.2

Investment securities held-to-maturity, net(1)		65,027		63,510		61,956		57,117		52,914		51,051		49,477			(20.1)		(3.1)
Total investment securities		107,868		106,556		103,502		101,643		101,554		107,806		106,330			2.7		(1.4)
Loans		33,916		34,123		35,436		36,631		38,635		39,376		41,961			18.4		6.6
Allowance for credit losses on loans(2)		115		120		119		135		135		136		162			36.1		19.1
Loans, net		33,801		34,003		35,317		36,496		38,500		39,240		41,799			18.4		6.5
Premises and equipment, net(3)		2,337		2,349		2,334		2,399		2,479		2,539		2,621			12.3		3.2
Accrued interest and fees receivable		3,570		3,732		3,874		3,806		4,014		4,066		4,160			7.4		2.3
Goodwill		7,530		7,544		7,487		7,611		7,582		7,751		7,833			4.6		1.1
Other intangible assets		1,493		1,435		1,363		1,320		1,258		1,209		1,166			(14.5)		(3.6)
Other assets		40,755		46,581		47,232		44,806		45,468		53,098		56,248			19.1		5.9
Total assets		$	290,816	$	294,561	$	284,415	$	297,258	$	338,003	$	325,603	$	338,481		19.0		4.0
Liabilities:
Deposits:
Non-interest-bearing		$	45,856	$	36,455	$	35,824	$	32,569	$	37,367	$	34,519	$	31,448		(12.2)		(8.9)
Interest-bearing - U.S.		108,623		122,676		118,561		121,738		148,485		140,983		145,527			22.7		3.2
Interest-bearing - Non-U.S.		69,152		63,185		58,616		66,663		66,032		63,658		70,454			20.2		10.7
Total deposits(4)		223,631		222,316		213,001		220,970		251,884		239,160		247,429			16.2		3.5
Securities sold under repurchase agreements		3,695		4,294		3,097		1,867		3,576		2,716		2,119			(31.6)		(22.0)

Other short-term borrowings		8		53		8		3,660		11,541		13,571		10,018			nm		(26.2)
Accrued expenses and other liabilities		22,427		26,516		26,124		28,123		26,823		25,657		32,185			23.2		25.4
Long-term debt		16,305		17,178		18,564		18,839		19,746		19,737		20,902			12.6		5.9
Total liabilities		266,066		270,357		260,794		273,459		313,570		300,841		312,653			19.9		3.9
Shareholders' equity:
Preferred stock, no par, 3,500,000 shares authorized:
Series D, 7,500 shares issued and outstanding		742		742		742		742		—		—		—			nm		nm
Series F, 2,500 shares issued and outstanding		247		247		247		247		—		—		—			nm		nm
Series G, 5,000 shares issued and outstanding		493		493		493		493		493		493		493			—		—
Series H, 5,000 shares issued and outstanding		494		494		494		494		494		494		—			nm		nm
Series I, 15,000 shares issued and outstanding		—		—		—		—		1,481		1,481		1,481			nm		—
Series J, 850 shares issued and outstanding		—		—		—		—		—		—		842			nm		nm
Common stock, $1 par, 750,000,000 shares authorized(5)(6)		504		504		504		504		504		504		504			—		—
Surplus		10,724		10,729		10,735		10,741		10,724		10,721		10,723			(0.1)		—
Retained earnings		27,342		27,808		27,993		27,957		28,166		28,615		29,073			3.9		1.6
Accumulated other comprehensive income (loss)		(3,272)		(3,258)		(3,045)		(2,354)		(2,369)		(2,314)		(1,625)			46.6		29.8
Treasury stock, at cost(7)		(12,524)		(13,555)		(14,542)		(15,025)		(15,060)		(15,232)		(15,663)			(7.7)		(2.8)
Total shareholders' equity		24,750		24,204		23,621		23,799		24,433		24,762		25,828			9.3		4.3
Total liabilities and equity		$	290,816	$	294,561	$	284,415	$	297,258	$	338,003	$	325,603	$	338,481		19.0		4.0


(1) Fair value of investment securities held-to-maturity		$	59,139	$	56,863	$	54,121	$	51,503	$	46,823	$	44,916	$	44,925
(2) Total allowance for credit losses including off-balance sheet commitments		162		136		134		150		146		145		171
(3) Accumulated depreciation for premises and equipment		5,918		6,035		6,148		6,062		6,193		6,318		6,400
(4) Average total deposits		210,320		205,831		197,869		206,544		218,892		220,881		225,482
(5) Common stock shares issued		503,879,642		503,879,642		503,879,642		503,879,642		503,879,642		503,879,642		503,879,642
(6) Total common shares outstanding		336,461,072		322,101,110		308,583,511		301,944,043		301,504,470		299,231,005		294,191,001
(7) Treasury stock shares		167,418,570		181,778,532		195,296,131		201,935,599		202,375,172		204,648,637		209,688,641
nm Denotes not meaningful


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
	1Q23					2Q23					3Q23					4Q23					1Q24					2Q24					3Q24					3Q24 vs. 3Q23	3Q24 vs. 2Q24
(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 rates				Average balance		Average balance
Assets:
Interest-bearing deposits with banks, net	$	77,220	3.37		%	$	69,079	4.05		%	$	62,514	4.40		%	$	70,873	4.69		%	$	90,230	4.45		%	$	87,894	4.25		%	$	86,884	4.02		%		39.0	%	(1.1)	%
Securities purchased under resale agreements(2)	1,643		18.94			1,634		19.82			1,639		15.75			2,138		16.56			6,118		10.97			6,558		10.17			6,991		10.44				nm		6.6
Trading account assets	667		—			704		—			728		—			745		—			767		—			779		—			788		—				8.2		1.2
Investment securities:
Investment securities available-for-sale, net	42,101		3.31			43,409		3.76			42,341		4.39			43,537		4.84			46,497		4.93			53,204		5.06			57,302		5.13				35.3		7.7
Investment securities held-to-maturity, net	64,988		1.97			64,141		1.99			62,654		2.00			59,937		2.05			54,821		2.14			51,894		2.14			50,062		2.12				(20.1)		(3.5)
Total investment securities	107,089		2.50			107,550		2.71			104,995		2.97			103,474		3.23			101,318		3.42			105,098		3.62			107,364		3.73				2.3		2.2
Loans(3)	33,517		4.80			34,235		5.18			34,525		5.65			36,887		5.72			37,747		5.82			38,703		5.85			39,782		5.79				15.2		2.8
Other interest-earning assets	17,393		5.71			18,783		6.09			18,089		6.60			18,117		6.59			18,153		6.92			22,708		6.92			27,697		6.35				53.1		22.0
Total interest-earning assets	237,529		3.46			231,985		3.86			222,490		4.16			232,234		4.43			254,333		4.57			261,740		4.61			269,506		4.55				21.1		3.0
Cash and due from banks	3,639					3,893					3,742					4,418					4,608					2,861					3,417						(8.7)		19.4
Other non-interest-earning assets	36,324					39,094					41,495					42,007					39,629					41,697					41,717						0.5		—
Total assets	$	277,492				$	274,972				$	267,727				$	278,659				$	298,570				$	306,298				$	314,640					17.5		2.7
Liabilities:
Interest-bearing deposits:
U.S.	$	105,261	3.00		%	$	109,015	3.48		%	$	110,343	3.83		%	$	116,077	4.06		%	$	129,846	4.22		%	$	132,162	4.15		%	$	135,440	4.16		%		22.7		2.5
Non-U.S.	66,356		1.07			64,838		1.54			58,808		1.80			60,856		2.11			62,087		1.80			63,767		1.72			65,824		1.70				11.9		3.2
Total interest-bearing deposits(4)	171,617		2.25			173,853		2.75			169,151		3.13			176,933		3.39			191,933		3.44			195,929		3.36			201,264		3.35				19.0		2.7
Securities sold under repurchase agreements	4,409		0.84			4,266		1.25			3,908		0.61			3,048		0.70			3,122		5.06			3,404		5.07			2,193		4.98				(43.9)		(35.6)
Federal funds purchased	—		—			—		—			—		—			1		5.48			—		—			—		—			—		—				nm		nm
Other short-term borrowings	1,278		3.78			1,965		4.11			324		2.68			1,183		3.11			8,314		4.85			13,073		5.15			13,639		5.16				nm		4.3
Long-term debt	15,865		4.64			16,735		5.00			18,117		5.33			18,663		5.43			18,944		5.44			19,694		5.44			20,258		5.27				11.8		2.9
Other interest-bearing liabilities	3,078		13.49			3,595		11.74			4,267		11.37			4,606		11.66			4,430		12.29			4,753		12.57			5,238		14.41				22.8		10.2
Total interest-bearing liabilities	196,247		2.61			200,414		3.09			195,767		3.45			204,434		3.72			226,743		3.85			236,853		3.84			242,592		3.87				23.9		2.4
Non-interest-bearing deposits(5)	38,703					31,978					28,718					29,611					26,959					24,952					24,218						(15.7)		(2.9)
Other non-interest-bearing liabilities	17,691					18,195					19,516					20,855					20,233					19,964					22,119						13.3		10.8
Preferred shareholders' equity	1,976					1,976					1,976					1,976					2,785					2,468					3,020						52.8		22.4
Common shareholders' equity	22,875					22,409					21,750					21,783					21,850					22,061					22,691						4.3		2.9
Total liabilities and shareholders' equity	$	277,492				$	274,972				$	267,727				$	278,659				$	298,570				$	306,298				$	314,640					17.5		2.7

Total deposits	$	210,320				$	205,831				$	197,869				$	206,544				$	218,892				$	220,881				$	225,482					14.0		2.1

Excess of rate earned over rate paid			0.86		%			0.77		%			0.70		%			0.71		%			0.72		%			0.77		%			0.68		%
Net interest margin			1.31		%			1.19		%			1.12		%			1.16		%			1.13		%			1.13		%			1.07		%
Net interest income, fully taxable-equivalent basis			$	768				$	691				$	626				$	679				$	717				$	736				$	724
Tax-equivalent adjustment			(2)					—					(2)					(1)					(1)					(1)					(1)
Net interest income, GAAP-basis(4)			$	766				$	691				$	624				$	678				$	716				$	735				$	723

(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 $117 billion, $140 billion, $138 billion and $167 billion in the first, second, third and fourth quarters of 2023, respectively, and approximately $172 billion, $180 billion and $201 billion in the first, second and third quarters of 2024, respectively. Excluding the impact of netting, the average interest rates would be approximately 0.26%, 0.23%, 0.19% and 0.21% in the first, second, third and fourth quarters of 2023, respectively, and approximately 0.38%, 0.36% and 0.35% in the first, second and third quarters of 2024, respectively.
(3) Average loans are presented on a gross basis. Average loans net of expected credit losses were approximately $33,422 million, $34,124 million, $34,407 million and $36,771 million in the first, second, third and fourth quarters of 2023 and approximately $37,626 million, $38,573 million and $39,645 million in the first, second and third quarters of 2024, respectively.
(4) Average rates includes the impact of FX swap expense of approximately ($5) million, $22 million, $24 million and $13 million in the first, second, third and fourth quarters of 2023, respectively, and approximately ($49) million, ($64) million and ($82) million in the first, second and third quarters of 2024, respectively. Average rates for total interest-bearing deposits excluding the impact of FX swap expense were approximately 2.26%, 2.70%, 3.07% and 3.36% in the first, second, third and fourth quarters of 2023, respectively, and approximately 3.54%, 3.49% and 3.52% in the first, second and third quarters of 2024, 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 2023 and 2024, adjusted for applicable state income taxes, net of related federal benefit.
			Year-to-Date														% Change
			2023							2024							YTD2024 vs YTD2023
(Dollars in millions; fully-taxable equivalent basis)	Average balance				Average rates			Average balance				Average rates			Average balance
Assets:
Interest-bearing deposits with banks, net	$	69,551			3.91		%	$	88,330			4.24		%	27.0	%
Securities purchased under resale agreements(2)	1,639				18.16			6,557				10.52			nm
Trading account assets	700				—			778				—			11.1
Investment securities:
Investment securities available-for-sale, net	42,618				3.82			52,352				5.04			22.8
Investment securities held-to-maturity, net	63,919				1.99			52,251				2.13			(18.3)
Total investment securities	106,537				2.72			104,603				3.59			(1.8)
Loans(3)	34,096				5.22			38,747				5.82			13.6
Other interest-earning assets	18,090				6.14			22,872				6.69			26.4
Total interest-earning assets	230,613				3.82			261,887				4.58			13.6
Cash and due from banks	3,759							3,628							(3.5)
Other non-interest-earning assets	38,989							41,017							5.2
Total assets	$	273,361						$	306,532						12.1
Liabilities:
Interest-bearing deposits:
U.S.	$	108,225			3.45			$	132,493			4.18			22.4
Non-U.S.	63,307				1.46			63,900				1.74			0.9
Total interest-bearing deposits(4)	171,532				2.71			196,393				3.39			14.5
Securities sold under repurchase agreements	4,193				0.91			2,904				5.05			(30.7)
Federal funds purchased	39				4.70			—				—			nm
Other short-term borrowings	1,146				3.84			11,683				5.09			nm
Long-term debt	16,914				5.00			19,634				5.38			16.1
Other interest-bearing liabilities	3,650				12.08			4,808				13.16			31.7
Total interest-bearing liabilities	197,474				3.05			235,422				3.85			19.2
Non-interest-bearing deposits(5)	33,096							25,372							(23.3)
Other non-interest-bearing liabilities	18,474							20,777							12.5
Preferred shareholders' equity	1,976							2,758							39.6
Common shareholders' equity	22,341							22,203							(0.6)
Total liabilities and shareholders' equity	$	273,361						$	306,532						12.1

Total deposits			$	204,628						$	221,765						8.4


Excess of rate earned over rate paid					0.77		%					0.72		%
Net interest margin					1.21		%					1.11		%
Net interest income, fully taxable-equivalent basis					$	2,085						$	2,177
Tax-equivalent adjustment					(4)							(3)
Net interest income, GAAP-basis(4)					$	2,081						$	2,174

(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 $131 billion and $184 billion as of September 30, 2023 and 2024, respectively. Excluding the impact of netting, the average interest rates would be approximately 0.22% and 0.36% for the nine months ended September 30, 2023 and 2024, respectively.
(3) Average loans are presented on a gross basis. Average loans net of expected credit losses as of September 30, 2023 and 2024 was approximately $33,988 million and $38,618 million, respectively.
(4) Average rates include the impact of FX swap cost of approximately $40 million and ($195) million for the nine months ended September 30, 2023 and 2024, respectively. Average rates for total interest-bearing deposits excluding the impact of FX swap cost were 2.68% and 3.52% for the nine months ended September 30, 2023 and 2024, 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
SELECTED AVERAGE BALANCES BY CURRENCY - RATES EARNED AND PAID(1)

	3Q24
	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	$	35,838	5.57	%	$	25,168	3.63	%	$	6,469	5.06	%	$	19,409	1.30	%	$	86,884	4.02	%
Total investment securities	87,088		3.73		8,488		2.71		5,035		4.33		6,753		4.47		107,364		3.73
Loans	31,965		5.85		6,028		5.40		1,236		6.44		553		5.17		39,782		5.79
Total other interest-earning assets(2)	32,435		7.33		242		2.89		205		4.66		2,594		3.63		35,476		7.01
Total interest-earning assets	$	187,326	5.06		$	39,926	3.70		$	12,945	4.89		$	29,309	2.31		$	269,506	4.55

Total interest-bearing deposits(3)(4)	$	133,961	4.41		$	34,286	2.17		$	11,605	1.84		$	21,412	(0.52)		$	201,264	3.35

Central Bank Rate(5)			5.43				3.70				5.08

	2Q24
	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	$	38,412	5.56	%	$	26,820	3.85	%	$	6,609	5.15	%	$	16,053	1.41	%	$	87,894	4.25	%
Total investment securities	85,209		3.63		8,891		2.68		4,701		4.35		6,297		4.25		105,098		3.62
Loans	31,156		5.82		5,614		5.88		1,239		6.85		694		5.34		38,703		5.85
Total other interest-earning assets(2)	27,570		7.77		135		3.25		51		6.59		2,289		3.87		30,045		7.45
Total interest-earning assets	$	182,347	5.05		$	41,460	3.87		$	12,600	5.04		$	25,333	2.45		$	261,740	4.61

Total interest-bearing deposits(3)(4)	$	128,122	4.45		$	35,166	2.16		$	11,313	1.70		$	21,328	(0.32)		$	195,929	3.36

Central Bank Rate(5)			5.50				3.93				5.25

	3Q23
	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	$	28,645	5.34	%	$	17,752	3.79	%	$	5,805	5.14	%	$	10,312	2.41	%	$	62,514	4.40	%
Total investment securities	84,506		3.10		8,815		1.81		4,773		2.80		6,901		2.90		104,995		2.97
Loans	27,770		5.67		5,139		5.28		1,061		7.00		555		5.86		34,525		5.65
Total other interest-earning assets(2)	18,226		7.57		162		3.47		56		5.69		2,012		3.14		20,456		7.10
Total interest-earning assets	$	159,147	4.45		$	31,868	3.48		$	11,695	4.35		$	19,780	2.75		$	222,490	4.16

Total interest-bearing deposits(3)(4)	$	107,999	4.07		$	29,215	1.67		$	11,385	1.29		$	20,552	1.22		$	169,151	3.13

Central Bank Rate(5)			5.43				3.73				5.16

(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
	1Q23				2Q23				3Q23				4Q23				1Q24				2Q24				3Q24
(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		Average Balance		Average Rate
Available-for-sale investment securities:
Government & agency securities	$	23.1	2.74	%	$	24.0	3.20	%	$	23.2	3.82	%	$	23.1	4.25	%	$	25.1	4.44	%	$	31.4	4.73	%	$	35.0	4.89	%
Asset-backed securities	5.9		4.43		5.8		5.06		5.9		5.63		6.6		5.67		6.9		5.61		7.2		5.68		7.6		5.53
Student loans	0.1		7.04		0.1		6.46		0.1		6.82		0.1		6.87		0.1		7.42		0.1		7.02		0.1		7.10
Credit cards	0.1		5.40		0.1		5.78		0.1		6.26		0.1		6.35		0.1		6.24		0.1		6.21		0.1		6.25
Auto & equipment	0.6		2.74		0.4		3.41		0.6		4.06		0.8		4.22		0.9		4.51		1.0		4.63		1.0		4.71
Non-U.S. residential mortgage backed securities	1.6		4.00		1.6		4.45		1.5		5.10		1.7		5.07		2.0		5.24		2.2		5.61		2.5		5.26
Collateralized loan obligation	3.2		4.91		3.3		5.60		3.4		6.18		3.6		6.30		3.6		6.08		3.6		6.04		3.7		5.94
Other	0.3		3.36		0.4		4.12		0.2		3.91		0.3		4.78		0.2		4.72		0.2		4.63		0.2		4.46
Mortgage-backed securities	2.2		3.72		2.9		4.53		3.7		4.88		4.7		5.52		5.6		5.44		5.9		5.48		6.2		5.36
Agency MBS	2.2		3.72		2.9		4.53		3.7		4.88		4.7		5.52		5.6		5.44		5.9		5.48		6.2		5.36

CMBS	6.9		4.60		6.6		5.26		6.1		5.73		5.9		5.88		5.6		5.81		5.4		5.75		5.1		5.81
Corporate bonds	2.3		2.39		2.4		2.65		2.2		3.05		2.5		4.18		2.7		4.34		2.6		4.53		2.6		4.75
Covered bonds	—		0.65		—		0.69		—		0.66		—		0.65		—		3.63		0.1		4.84		0.3		5.42
Municipal bonds	0.5		2.91		0.6		0.89		0.5		3.29		0.4		3.41		0.2		2.78		0.2		2.80		0.2		2.80
Clipper tax-exempt bonds	0.3		4.40		0.2		4.67		0.2		4.45		0.1		4.45		0.1		4.41		0.1		4.52		0.1		4.38
Other	0.9		2.83		0.9		1.79		0.5		3.93		0.2		10.19		0.3		8.51		0.3		9.44		0.2		11.28
Total available-for-sale portfolio	$	42.1	3.31		$	43.4	3.76		$	42.3	4.39		$	43.5	4.84		$	46.5	4.93		$	53.2	5.06		$	57.3	5.13

	1Q23				2Q23				3Q23				4Q23				1Q24				2Q24				3Q24
(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		Average Balance		Average Rate
Held-to-maturity investment securities:
Government & agency securities	$	18.8	0.88	%	$	18.9	0.88	%	$	18.5	0.87	%	$	16.9	0.92	%	$	12.7	0.96	%	$	10.8	0.88	%	$	10.1	0.82	%
Asset-backed securities	3.8		5.37		3.7		5.73		3.5		6.02		3.4		6.19		3.1		6.15		3.0		6.15		2.7		6.21
Student loans	3.8		5.37		3.7		5.73		3.5		6.02		3.4		6.19		3.1		6.15		3.0		6.15		2.7		6.21


Mortgage-backed securities	37.1		2.23		36.3		2.22		35.4		2.21		34.4		2.22		33.8		2.25		32.9		2.23		32.1		2.22
Agency MBS	37.1		2.23		36.3		2.21		35.4		2.20		34.4		2.22		33.8		2.24		32.9		2.22		32.1		2.21

CMBS	5.3		1.93		5.2		1.94		5.3		1.94		5.2		1.93		5.2		1.93		5.2		1.91		5.2		1.91

Total held-for-maturity portfolio	$	65.0	1.97		$	64.1	1.99		$	62.7	2.00		$	59.9	2.05		$	54.8	2.14		$	51.9	2.14		$	50.1	2.12

Total investment securities	$	107.1	2.50		$	107.5	2.71		$	105.0	2.97		$	103.4	3.23		$	101.3	3.42		$	105.1	3.62		$	107.4	3.73


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			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	56		%	27		%	15		%	—		%	1		%	1		%	$	34.4	60.6	%	$	42	92% / 8%
Asset-backed securities	—			94			6			—			—			—			8.0		14.1		11		0% / 100%
Student loans	—			13			87			—			—			—			0.1		1.3		1
Credit cards	—			100			—			—			—			—			0.1		1.3		1
Auto & equipment	—			81			19			—			—			—			1.1		13.8		1
Non-U.S. residential mortgage backed securities	—			97			3			—			—			—			2.5		31.2		1
Collateralized loan obligation	—			100			—			—			—			—			3.9		48.7		7
Other	—			58			42			—			—			—			0.3		3.7		—
Mortgage-backed securities	100			—			—			—			—			—			6.4		11.3		27		100% / 0%
Agency MBS	100			—			—			—			—			—			6.4		100.0		23
Non-agency MBS	—			3			—			97			—			—			—		—		4
CMBS	100			—			—			—			—			—			4.8		8.5		(33)		4% / 96%
Corporate bonds	—			—			22			65			13			—			2.7		4.7		53		79% / 21%
Covered bonds	—			100			—			—			—			—			0.3		0.5		—		10% / 90%
Municipal bonds	—			57			43			—			—			—			0.1		0.2		—		100% / 0%

Other	—			—			100			—			—			—			0.1		0.1		—		0% / 100%
Total available-for-sale portfolio	53		%	31		%	11		%	3		%	1		%	1		%	$	56.8	100.0	%	$	100	71% / 29%

Fair Value	$	30.4		$	17.4		$	6.3		$	1.8		$	0.7		$	0.2

	UST/AGY			AAA			AA			A			BBB			<BBB			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	56		%	22		%	18		%	—		%	4		%	—		%	$	9.9	20.0	%	$	(132)	100% / 0%
Asset-backed securities	—			23			71			4			—			2			2.6		5.3		(22)		5% / 95%
Student loans	—			23			71			4			—			2			2.6		100.0		(22)


Mortgage-backed securities	100			—			—			—			—			—			31.8		64.2		(3,859)		100% / 0%
Agency MBS	100			—			—			—			—			—			31.8		100.0		(3,859)

CMBS	100			—			—			—			—			—			5.2		10.5		(539)		97% / 3%

Total held-for-maturity portfolio	86		%	6		%	7		%	—		%	1		%	—		%	$	49.5	100.0	%	$	(4,552)	95% / 5%

Amortized Cost	$	42.5		$	2.8		$	3.6		$	0.1		$	0.4		$	0.1

Total Investment Securities(3)																			$	106.3					82% / 18%


(1) At September 30, 2024, the after-tax unrealized MTM gain/(loss) includes after-tax unrealized loss on securities available-for-sale of $73 million, after-tax unrealized loss on securities held-to-maturity of $3,330 million and after-tax unrealized loss primarily related to securities previously transferred from available-for-sale to held-to-maturity of $411 million.
(2) At September 30, 2024, fixed-to-floating rate securities, which excludes the impact of hedges, had a book value of approximately $25 million or 0.02% 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 September 30, 2024, approximately 86% of our investment portfolio was held in HQLA.


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

	Quarters														% Change
(Dollars in billions)	1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24		3Q24 vs. 3Q23		3Q24 vs. 2Q24
Assets Under Custody and/or Administration(1)
By Product Classification:
Collective funds, including ETFs	$	12,748	$	13,210	$	13,145	$	14,070	$	14,694	$	14,573	$	15,253	16.0	%	4.7	%
Mutual funds	10,077		10,438		10,313		11,009		11,552		11,645		12,223		18.5		5.0
Pension products	7,871		8,037		8,255		8,352		8,800		8,916		9,339		13.1		4.7
Insurance and other products	6,939		7,904		8,304		8,379		8,866		9,178		9,944		19.7		8.3
Total Assets Under Custody and/or Administration	$	37,635	$	39,589	$	40,017	$	41,810	$	43,912	$	44,312	$	46,759	16.8		5.5
By Asset Class:
Equities	$	20,966	$	22,454	$	22,971	$	24,317	$	25,909	$	26,291	$	27,715	20.7		5.4
Fixed-Income	10,645		10,812		10,688		11,043		11,368		11,303		12,027		12.5		6.4
Short-term and other investments(2)	6,024		6,323		6,358		6,450		6,635		6,718		7,017		10.4		4.5
Total Assets Under Custody and/or Administration	$	37,635	$	39,589	$	40,017	$	41,810	$	43,912	$	44,312	$	46,759	16.8		5.5
By Geographic Location(3):
Americas	$	27,599	$	28,220	$	28,237	$	29,951	$	31,610	$	31,763	$	33,460	18.5		5.3
Europe/Middle East/Africa	7,396		8,658		8,987		8,913		9,207		9,406		10,214		13.7		8.6
Asia/Pacific	2,640		2,711		2,793		2,946		3,095		3,143		3,085		10.5		(1.8)
Total Assets Under Custody and/or Administration	$	37,635	$	39,589	$	40,017	$	41,810	$	43,912	$	44,312	$	46,759	16.8		5.5
Assets Under Custody(4)
By Product Classification:
Collective funds, including ETFs	$	10,935	$	11,331	$	11,250	$	12,101	$	12,717	$	12,570	$	13,122	16.6		4.4
Mutual funds	8,157		8,447		8,364		8,905		9,309		9,360		9,806		17.2		4.8
Pension products	6,355		6,485		6,679		6,825		7,235		7,333		7,693		15.2		4.9
Insurance and other products	2,706		2,778		2,820		2,784		2,898		2,898		3,046		8.0		5.1
Total Assets Under Custody	$	28,153	$	29,041	$	29,113	$	30,615	$	32,159	$	32,161	$	33,667	15.6		4.7
By Geographic Location(3):
Americas	$	21,019	$	21,708	$	21,578	$	22,904	$	24,241	$	24,211	$	25,386	17.6		4.9
Europe/Middle East/Africa	5,039		5,153		5,273		5,302		5,380		5,361		5,715		8.4		6.6
Asia-Pacific	2,095		2,180		2,262		2,409		2,538		2,589		2,566		13.4		(0.9)
Total Assets Under Custody	$	28,153	$	29,041	$	29,113	$	30,615	$	32,159	$	32,161	$	33,667	15.6		4.7

(1) Consistent with past practice, AUC/A values for certain asset classes are based on a lag, typically one-month.
(2) Short-term and other investments includes derivatives, cash and cash equivalents and other instruments.
(3) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
(4) 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)	1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24			3Q24 vs. 3Q23		3Q24 vs. 2Q24
Assets Under Management
By Asset Class and Investment Approach:
Equity:
Active	$	60	$	59	$	53	$	47	$	51	$	51	$	54		1.9	%	5.9	%
Passive	2,152		2,287		2,161		2,466		2,661		2,708		2,923			35.3		7.9
Total Equity	2,212		2,346		2,214		2,513		2,712		2,759		2,977			34.5		7.9
Fixed-Income:
Active	85		84		80		71		27		28		30			(62.5)		7.1
Passive	490		505		506		538		551		555		593			17.2		6.8
Total Fixed-Income	575		589		586		609		578		583		623			6.3		6.9
Cash(1)	375		390		434		467		481		483		543			25.1		12.4
Multi-Asset-Class Solutions:
Active	28		25		20		21		23		22		23			15.0		4.5
Passive	203		220		222		289		312		327		352			58.6		7.6
Total Multi-Asset-Class Solutions	231		245		242		310		335		349		375			55.0		7.4
Alternative Investments(2):
Active	35		36		21		11		11		10		10			(52.4)		—
Passive(3)	185		181		175		192		182		185		204			16.6		10.3
Total Alternative Investments	220		217		196		203		193		195		214			9.2		9.7
Total Assets Under Management	$	3,613	$	3,787	$	3,672	$	4,102	$	4,299	$	4,369	$	4,732		28.9		8.3
By Geographic Location(4):
Americas	$	2,648	$	2,784	$	2,702	$	3,028	$	3,154	$	3,195	$	3,448		27.6		7.9
Europe/Middle East/Africa	516		544		519		577		635		665		728			40.3		9.5
Asia-Pacific	449		459		451		497		510		509		556			23.3		9.2
Total Assets Under Management	$	3,613	$	3,787	$	3,672	$	4,102	$	4,299	$	4,369	$	4,732		28.9		8.3



(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.
(3) AUM for passive alternative investments has been revised from prior presentations.
(4) Geographic mix is based on client location or fund management location.

Exchange-Traded Funds(1)
By Asset Class:
Alternative Investments(2)	$	73	$	70	$	66	$	73	$	74	$	77	$	91		37.9	%	18.2	%

Equity	841		919		886		1,038		1,131		1,157		1,253			41.4		8.3
Fixed-Income	141		142		142		156		155		159		171			20.4		7.5
Multi-Asset	1		1		1		1		1		1		1			—		—
Total Exchange-Traded Funds	$	1,056	$	1,132	$	1,095	$	1,268	$	1,361	$	1,394	$	1,516		38.4		8.8

(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
LINE OF BUSINESS INFORMATION

	Three Months Ended,
	Investment Servicing										% Change							Investment Management										% Change						Other(1)									% Change				Total									% Change
(Dollars in millions)	3Q23			2Q24			3Q24				3Q24 vs. 3Q23			3Q24 vs. 2Q24				3Q23				2Q24			3Q24			3Q24 vs. 3Q23		3Q24 vs. 2Q24				3Q23			2Q24				3Q24		3Q24 vs. 3Q23		3Q24 vs. 2Q24		3Q23			2Q24			3Q24			3Q24 vs. 3Q23		3Q24 vs. 2Q24
Servicing fees	$	1,234		$	1,239		$	1,266			2.6		%	2.2		%		$	—			$	—		$	—		—	%	—		%		$	—		$	—			$	—	—	%	—	%	$	1,234		$	1,239		$	1,266		2.6	%	2.2	%
Management fees	—			—			—				—			—				479				511			527			10.0		3.1				—			—				—		—		—		479			511			527			10.0		3.1
Foreign exchange trading services	278			304			312				12.2			2.6				35				32			47			34.3		46.9				—			—				15		nm		nm		313			336			374			19.5		11.3
Securities finance	98			101			111				13.3			9.9				5				7			5			—		(28.6)				—			—				—		—		—		103			108			116			12.6		7.4
Software and processing fees	188			214			208				10.6			(2.8)				—				—			—			—		—				—			—				—		—		—		188			214			208			10.6		(2.8)
Other fee revenue	41			36			48				17.1			33.3				3				12			11			nm		(8.3)				—			—				66		nm		nm		44			48			125			nm		nm
Total fee revenue	1,839			1,894			1,945				5.8			2.7				522				562			590			13.0		5.0				—			—				81		nm		nm		2,361			2,456			2,616			10.8		6.5
Net interest income	620			730			716				15.5			(1.9)				4				5			7			75.0		40.0				—			—				—		—		—		624			735			723			15.9		(1.6)
Total other income	—			—			1				nm			nm				—				—			—			—		—				(294)			—				(81)		72.4		nm		(294)			—			(80)			72.8		nm
Total revenue	2,459			2,624			2,662				8.3			1.4				526				567			597			13.5		5.3				(294)			—				—		nm		nm		2,691			3,191			3,259			21.1		2.1
Provision for credit losses	—			10			26				—			nm				—				—			—			—		—				—			—				—		—		—		—			10			26			—		nm
Total expenses	1,798			1,880			1,891				5.2			0.6				379				388			417			10.0		7.5				3			1				—		nm		nm		2,180			2,269			2,308			5.9		1.7
Income before income tax expense	$	661		$	734		$	745			12.7			1.5				$	147			$	179		$	180		22.4		0.6				$	(297)		$	(1)			$	—	nm		nm		$	511		$	912		$	925		81.0		1.4
Pre-tax margin	26.9		%	28.0		%	28.0		%		1.1		%	—		%	pts	27.9		%		31.6		%	30.2		%	2.3	%	(1.4)		%	pts														19.0		%	28.6		%	28.4		%	9.4	%	(0.2)	%	pts

	Nine Months Ended September 30,
	Investment Servicing						% Change				Investment Management							% Change				Other(1)						% Change		Total							% Change
(Dollars in millions)	2023			2024			YTD2024 vs. YTD2023				2023			2024				YTD2024 vs. YTD2023				2023			2024			YTD2024 vs. YTD2023		2023				2024			YTD2024 vs. YTD2023
Servicing fees	$	3,710		$	3,733		0.6		%		$	—		$	—			—%				$	—		$	—		—	%	$	3,710			$	3,733		0.6		%
Management fees	—			—			—				1,397			1,548				10.8				—			—			—		1,397				1,548			10.8
Foreign exchange trading services	875			924			5.6				83			102				22.9				—			15			nm		958				1,041			8.7
Securities finance	310			302			(2.6)				19			18				(5.3)				—			—			—		329				320			(2.7)
Software and processing fees	574			629			9.6				—			—				—				—			—			—		574				629			9.6
Other fee revenue	124			127			2.4				23			30				30.4				—			66			nm		147				223			51.7
Total fee revenue	5,593			5,715			2.2				1,522			1,698				11.6				—			81			nm		7,115				7,494			5.3
Net interest income	2,069			2,157			4.3				12			17				41.7				—			—			—		2,081				2,174			4.5
Total other income	—			1			nm				—			—				—				(294)			(81)			72.4		(294)				(80)			72.8
Total revenue	7,662			7,873			2.8				1,534			1,715				11.8				(294)			—			nm		8,902				9,588			7.7
Provision for loan losses	26			63			nm				—			—				—				—			—			—		26				63			nm
Total expenses	5,626			5,734			1.9				1,126			1,225				8.8				9			131			nm		6,761				7,090			4.9
Income before income tax expense	$	2,010		$	2,076		3.3				$	408		$	490			20.1				$	(303)		$	(131)		nm		$	2,115			$	2,435		15.1
Pre-tax margin	26.2		%	26.4		%	0.2		%	pts	26.6		%	28.6		%		2.0		%	pts									23.8		%		25.4		%	1.6		%	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
REGULATORY CAPITAL

	Basel III Advanced Approaches(1)																					Basel III Standardized Approach(2)
(Dollars in millions)	1Q23			2Q23			3Q23			4Q23			1Q24			2Q24			3Q24				1Q23			2Q23			3Q23			4Q23			1Q24			2Q24			3Q24
Ratios and Supporting Calculations:







Common equity tier 1 capital	$	14,029		$	13,496		$	13,004		$	12,971		$	13,167		$	13,346		$	14,071			$	14,029		$	13,496		$	13,004		$	12,971		$	13,167		$	13,346		$	14,071
Total risk-weighted assets	108,296			106,521			106,846			107,453			112,161			111,224			112,795				115,582			114,022			118,008			111,703			118,613			119,244			121,137
Common equity tier 1 risk-based capital ratio	13.0		%	12.7		%	12.2		%	12.1		%	11.7		%	12.0		%	12.5		%		12.1		%	11.8		%	11.0		%	11.6		%	11.1		%	11.2		%	11.6		%

Tier 1 capital	$	16,005		$	15,472		$	14,980		$	14,947		$	15,635		$	15,814		$	16,887			$	16,005		$	15,472		$	14,980		$	14,947		$	15,635		$	15,814		$	16,887
Tier 1 risk-based capital ratio	14.8		%	14.5		%	14.0		%	13.9		%	13.9		%	14.2		%	15.0		%		13.8		%	13.6		%	12.7		%	13.4		%	13.2		%	13.3		%	13.9		%

Total capital	$	17,374		$	16,854		$	16,357		$	16,817		$	17,504		$	17,682		$	18,754			$	17,535		$	16,982		$	16,488		$	16,967		$	17,650		$	17,827		$	18,925
Total risk-based capital ratio	16.0		%	15.8		%	15.3		%	15.7		%	15.6		%	15.9		%	16.6		%		15.2		%	14.9		%	14.0		%	15.2		%	14.9		%	15.0		%	15.6		%

Tier 1 capital	$	16,005		$	15,472		$	14,980		$	14,947		$	15,635		$	15,814		$	16,887			$	16,005		$	15,472		$	14,980		$	14,947		$	15,635		$	15,814		$	16,887
Leverage exposure(3)	268,747			266,240			259,086			269,807			289,772			297,350			305,699				268,747			266,240			259,086			269,807			289,772			297,350			305,699
Tier 1 leverage ratio	6.0		%	5.8		%	5.8		%	5.5		%	5.4		%	5.3		%	5.5		%		6.0		%	5.8		%	5.8		%	5.5		%	5.4		%	5.3		%	5.5		%

On-and off-balance sheet leverage exposure	$	244,049		$	249,353		$	246,948		$	248,371		$	249,668		$	261,135		$	273,809			$	244,049		$	249,353		$	246,948		$	248,371		$	249,668		$	261,135		$	273,809
Less: regulatory deductions	(8,745)			(8,732)			(8,641)			(8,852)			(8,798)			(8,948)			(8,941)				(8,745)			(8,732)			(8,641)			(8,852)			(8,798)			(8,948)			(8,941)
Total leverage exposure for SLR	235,304			240,621			238,307			239,519			240,870			252,187			264,868				235,304			240,621			238,307			239,519			240,870			252,187			264,868
Supplementary leverage ratio(4)	6.8		%	6.4		%	6.3		%	6.2		%	6.5		%	6.3		%	6.4		%		6.8		%	6.4		%	6.3		%	6.2		%	6.5		%	6.3		%	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 September 30, 2024 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 September 30, 2024 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.


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 average 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 annualized net income available to common shareholders for the relevant period 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 presented below.

	Quarters
(Dollars in millions, except per share amounts, or where otherwise noted)	1Q23			2Q23			3Q23			4Q23			1Q24			2Q24			3Q24
Tangible common equity - period end:
Total shareholders' equity	$	24,750		$	24,204		$	23,621		$	23,799		$	24,433		$	24,762		$	25,828
Less:
Preferred stock	1,976			1,976			1,976			1,976			2,468			2,468			2,816
Common shareholders' equity	22,774			22,228			21,645			21,823			21,965			22,294			23,012
Less:
Goodwill	7,530			7,544			7,487			7,611			7,582			7,751			7,833
Other intangible assets	1,493			1,435			1,363			1,320			1,258			1,209			1,166
Plus related deferred tax liabilities	496			499			497			461			460			461			467
Tangible common shareholders' equity - Non-GAAP	$	14,247		$	13,748		$	13,292		$	13,353		$	13,585		$	13,795		$	14,480

Total common shares outstanding - period end (in thousands)	336,461			322,101			308,584			301,944			301,504			299,231			294,191
Book value per common share	$	67.69		$	69.01		$	70.14		$	72.27		$	72.85		$	74.50		$	78.22
Tangible book value per common share - Non-GAAP	42.34			42.68			43.07			44.22			45.06			46.10			49.22

	Quarters																					Year-to-Date
(Dollars in millions, except where otherwise noted)	1Q23			2Q23			3Q23			4Q23			1Q24			2Q24			3Q24			2023			2024
Tangible common equity - average:
Average common shareholders' equity	$	22,875		$	22,409		$	21,750		$	21,783		$	21,850		$	22,061		$	22,691		$	22,341		$	22,203
Less:
Average goodwill	7,505			7,536			7,540			7,561			7,589			7,750			7,798			7,527			7,712
Average other intangible assets	1,516			1,462			1,402			1,336			1,287			1,230			1,187			1,460			1,235
Plus related deferred tax liabilities	495			497			498			479			460			460			464			497			462
Average tangible common shareholders' equity - Non-GAAP	$	14,349		$	13,908		$	13,306		$	13,365		$	13,434		$	13,541		$	14,170		$	13,851		$	13,718

Net income available to common shareholders	$	525		$	726		$	398		$	172		$	418		$	655		$	682		$	1,649		$	1,755
Net income available to common shareholders, excluding notable items(1)	525			726			613			636			517			655			682			1,864			1,854


Return on average tangible common equity - Non-GAAP(2)	14.6		%	20.9		%	12.0		%	5.1		%	12.4		%	19.3		%	19.3		%	15.9		%	17.1		%
Return on average tangible common equity, excluding notable items - Non-GAAP(2)(3)	14.6			20.9			18.4			19.0			15.4			19.3			19.3			17.9			18.0



(1) Refer to Reconciliations of non-GAAP Financial Information pages for a reconciliation of net income available to common shareholders, excluding notable items.
(2) Beginning in the third quarter of 2024, quarterly annualized net income available to common shareholders is utilized in the quarterly ROTCE calculation as compared to year-to-date annualized net income available to common shareholders utilized in prior quarters. Prior quarterly periods have been revised to conform to the current presentation.
(3) Return on average tangible common equity, excluding notable items - non-GAAP is calculated by dividing annualized net income available to common shareholders, excluding notable items for the relevant period by average tangible common equity.


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)		1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24			3Q24 vs. 3Q23			3Q24 vs. 2Q24				2023		2024			YTD2024 vs. YTD2023
Fee Revenue:
Total fee revenue, GAAP-basis		$	2,335	$	2,419	$	2,361	$	2,365	$	2,422	$	2,456	$	2,616		10.8	%		6.5	%			$	7,115	$	7,494		5.3	%
Less: Notable items:
Foreign exchange trading services(1)		—		—		—		—		—		—		(15)			nm			nm				—		(15)			nm
Other fee revenue(2)		—		—		—		—		—		—		(66)			nm			nm				—		(66)			nm

Total fee revenue, excluding notable items		$	2,335	$	2,419	$	2,361	$	2,365	$	2,422	$	2,456	$	2,535		7.4			3.2				$	7,115	$	7,413		4.2

Total Revenue:
Total revenue, GAAP-basis		$	3,101	$	3,110	$	2,691	$	3,043	$	3,138	$	3,191	$	3,259		21.1	%		2.1	%			$	8,902	$	9,588		7.7	%
Less: Notable items:
Foreign exchange trading services(1)		—		—		—		—		—		—		(15)			nm			nm				—		(15)			nm
Other fee revenue(2)		—		—		—		—		—		—		(66)			nm			nm				—		(66)			nm
(Gains) losses related to investment securities, net(3)		—		—		294		—		—		—		81			(72.4)			—				294		81			(72.4)
Total revenue, excluding notable items		$	3,101	$	3,110	$	2,985	$	3,043	$	3,138	$	3,191	$	3,259		9.2			2.1				$	9,196	$	9,588		4.3

Expenses:
Total expenses, GAAP-basis		$	2,369	$	2,212	$	2,180	$	2,822	$	2,513	$	2,269	$	2,308		5.9	%		1.7	%			$	6,761	$	7,090		4.9	%
Less: Notable items:
Acquisition and restructuring costs(4)		—		—		—		15		—		—		—			—			—				—		—			—


Repositioning charges(5)		—		—		—		(203)		—		—		—			—			—				—		—			—
FDIC special assessment(6)		—		—		—		(387)		(130)		—		—			—			—				—		(130)			nm
Other notable items(7)		—		—		—		(45)		—		—		—			—			—				—		—			—
Total expenses, excluding notable items		2,369		2,212		2,180		2,202		2,383		2,269		2,308			5.9			1.7				6,761		6,960			2.9
Seasonal expenses		(181)		—		—		—		(162)		—		—			—			nm				(181)		(162)			(10.5)
Total expenses, excluding notable items and seasonal expenses		$	2,188	$	2,212	$	2,180	$	2,202	$	2,221	$	2,269	$	2,308		5.9			1.7				$	6,580	$	6,798		3.3

Fee Operating Leverage, GAAP-Basis:
Total fee revenue, GAAP-basis		$	2,335	$	2,419	$	2,361	$	2,365	$	2,422	$	2,456	$	2,616		10.8	%		6.5	%			$	7,115	$	7,494		5.3	%
Total expenses, GAAP-basis		2,369		2,212		2,180		2,822		2,513		2,269		2,308			5.9			1.7				6,761		7,090			4.9
Fee operating leverage, GAAP-basis(8)																	4.9	%	pts	4.8	%	pts							0.4	%	pts

Fee Operating Leverage, excluding notable items:
Total fee revenue, excluding notable items (as reconciled above)		$	2,335	$	2,419	$	2,361	$	2,365	$	2,422	$	2,456	$	2,535		7.4	%		3.2	%			$	7,115	$	7,413		4.2	%
Total expenses, excluding notable items (as reconciled above)		2,369		2,212		2,180		2,202		2,383		2,269		2,308			5.9			1.7				6,761		6,960			2.9
Fee operating leverage, excluding notable items(9)																	1.5	%	pts	1.5	%	pts							1.3	%	pts

Operating Leverage, GAAP-Basis:
Total revenue, GAAP-basis		$	3,101	$	3,110	$	2,691	$	3,043	$	3,138	$	3,191	$	3,259		21.1	%		2.1	%			$	8,902	$	9,588		7.7	%
Total expenses, GAAP-basis		2,369		2,212		2,180		2,822		2,513		2,269		2,308			5.9			1.7				6,761		7,090			4.9
Operating leverage, GAAP-basis(10)																	15.2	%	pts	0.4	%	pts							2.8	%	pts

Operating Leverage, excluding notable items:
Total revenue, excluding notable items (as reconciled above)		$	3,101	$	3,110	$	2,985	$	3,043	$	3,138	$	3,191	$	3,259		9.2	%		2.1	%			$	9,196	$	9,588		4.3	%
Total expenses, excluding notable items (as reconciled above)		2,369		2,212		2,180		2,202		2,383		2,269		2,308			5.9			1.7				6,761		6,960			2.9
Operating leverage, excluding notable items(11)																	3.3	%	pts	0.4	%	pts							1.4	%	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)		1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24			3Q24 vs. 3Q23		3Q24 vs. 2Q24			2023		2024			YTD2024 vs. YTD2023
Income before income tax expense:
Income before income tax expense GAAP-basis	A	$	688	$	916	$	511	$	201	$	598	$	912	$	925		81.0	%	1.4%			$	2,115	$	2,435		15.1	%
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		(15)								—		(15)
Other fee revenue(2)		—		—		—		—		—		—		(66)								—		(66)
(Gains) losses related to investment securities, net(3)		—		—		294		—		—		—		81								294		81
Acquisition and restructuring costs(4)		—		—		—		(15)		—		—		—								—		—
Repositioning charges(5)		—		—		—		203		—		—		—								—		—
FDIC special assessment(6)		—		—		—		387		130		—		—								—		130
Other notable items(7)		—		—		—		45		—		—		—								—		—
Income before income tax expense, excluding notable items	B	$	688	$	916	$	805	$	821	$	728	$	912	$	925		14.9	%	1.4	%		$	2,409	$	2,565		6.5


Net Income:
Net Income GAAP-basis		$	549	$	763	$	422	$	210	$	463	$	711	$	730		73.0	%	2.7%			$	1,734	$	1,904		9.8	%
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		(15)								—		(15)
Other fee revenue(2)		—		—		—		—		—		—		(66)								—		(66)
(Gains) losses related to investment securities, net(3)		—		—		294		—		—		—		81								294		81
Acquisition and restructuring costs(4)		—		—		—		(15)		—		—		—								—		—
Repositioning charges(5)		—		—		—		203		—		—		—								—		—
FDIC special assessment(6)		—		—		—		387		130		—		—								—		130

Other notable items(7)		—		—		—		45		—		—		—								—		—
Tax impact of notable items		—		—		(79)		(156)		(31)		—		—								(79)		(31)
Net Income, excluding notable items		$	549	$	763	$	637	$	674	$	562	$	711	$	730		14.6	%	2.7	%		$	1,949	$	2,003		2.8

Net Income Available to Common Shareholders:
Net Income Available to Common Shareholders, GAAP-basis		$	525	$	726	$	398	$	172	$	418	$	655	$	682		71.4	%	4.1%			$	1,649	$	1,755		6.4	%
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		(15)								—		(15)
Other fee revenue(2)		—		—		—		—		—		—		(66)								—		(66)
(Gains) losses related to investment securities, net(3)		—		—		294		—		—		—		81								294		81
Acquisition and restructuring costs(4)		—		—		—		(15)		—		—		—								—		—
Repositioning charges(5)		—		—		—		203		—		—		—								—		—
FDIC special assessment(6)		—		—		—		387		130		—		—								—		130

Other notable items(7)		—		—		—		45		—		—		—								—		—
Tax impact of notable items		—		—		(79)		(156)		(31)		—		—								(79)		(31)
Net Income Available to Common Shareholders, excluding notable items		$	525	$	726	$	613	$	636	$	517	$	655	$	682		11.3	%	4.1	%		$	1,864	$	1,854		(0.5)

Diluted Earnings per Share:
Diluted earnings per share, GAAP-basis		$	1.52	$	2.17	$	1.25	$	0.55	$	1.37	$	2.15	$	2.26		80.8	%	5.1%			$	4.97	$	5.77		16.1	%
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		(0.04)								—		(0.04)
Other fee revenue(2)		—		—		—		—		—		—		(0.16)								—		(0.16)
(Gains) losses related to investment securities, net(3)		—		—		0.68		—		—		—		0.20								0.64		0.20
Acquisition and restructuring costs(4)		—		—		—		(0.04)		—		—		—								—		—
Repositioning charges(5)		—		—		—		0.50		—		—		—								—		—
FDIC special assessment(6)		—		—		—		0.94		0.32		—		—								—		0.32

Other notable items(7)		—		—		—		0.09		—		—		—								—		—
Diluted earnings per share, excluding notable items		$	1.52	$	2.17	$	1.93	$	2.04	$	1.69	$	2.15	$	2.26		17.1	%	5.1	%		$	5.61	$	6.09		8.6


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)		1Q23		2Q23		3Q23		4Q23		1Q24		2Q24		3Q24			3Q24 vs. 3Q23			3Q24 vs. 2Q24				2023		2024			YTD2024 vs. YTD2023
Pre-tax Margin:
Pre-tax margin, GAAP-basis		22.2	%	29.5	%	19.0	%	6.6	%	19.1	%	28.6	%	28.4	%		9.4	%	pts	(0.2)	%	pts		23.8	%	25.4	%		1.6	%	pts
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		(0.3)										—		(0.2)
Other fee revenue(2)		—		—		—		—		—		—		(1.1)										—		(0.7)
(Gains) losses related to investment securities, net(3)		—		—		8.0		—		—		—		1.4										2.4		0.9
Acquisition and restructuring costs(4)		—		—		—		(0.5)		—		—		—										—		—
Repositioning charges(5)		—		—		—		6.7		—		—		—										—		—
FDIC special assessment(6)		—		—		—		12.7		4.1		—		—										—		1.4
Other notable items(7)		—		—		—		1.5		—		—		—										—		—
Pre-tax margin, excluding notable items		22.2	%	29.5	%	27.0	%	27.0	%	23.2	%	28.6	%	28.4	%		1.4			(0.2)				26.2	%	26.8	%		0.6

Return on Average Common Equity:
Return on average common equity, GAAP-basis		9.3	%	13.0	%	7.3	%	3.1	%	7.7	%	11.9	%	12.0	%		4.7	%	pts	0.1	%	pts		9.9	%	10.6	%		0.7	%	pts
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		(0.3)										—		(0.1)
Other fee revenue(2)		—		—		—		—		—		—		(1.1)										—		(0.4)
(Gains) losses related to investment securities, net(3)		—		—		5.4		—		—		—		1.4										1.8		0.5
Acquisition and restructuring costs(4)		—		—		—		(0.3)		—		—		—										—		—
Repositioning charges(5)		—		—		—		3.7		—		—		—										—		—
FDIC special assessment(6)		—		—		—		7.0		2.4		—		—										—		0.8

Other notable items(7)		—		—		—		0.9		—		—		—										—		—
Tax impact of notable items		—		—		(1.5)		(2.8)		(0.6)		—		—										(0.5)		(0.2)
Return on average common equity, excluding notable items		9.3	%	13.0	%	11.2	%	11.6	%	9.5	%	11.9	%	12.0	%		0.8			0.1				11.2	%	11.2	%		—

Effective Tax Rate:
Effective tax rate, GAAP-basis		20.2	%	16.7	%	17.4	%	(4.4)	%	22.5	%	22.1	%	21.1	%		3.7	%	pts	(1.0)	%	pts		18.0	%	21.8	%		3.8	%	pts
Less: Notable items
Foreign exchange trading services(1)		—		—		—		—		—		—		—										—		—
Other fee revenue(2)		—		—		—		—		—		—		(0.1)										—		(0.1)
(Gains) losses related to investment securities, net(3)		—		—		3.5		—		—		—		0.1										1.1		0.1
Acquisition and restructuring costs(4)		—		—		—		(0.5)		—		—		—										—		—
Repositioning charges(5)		—		—		—		7.3		—		—		—										—		—
FDIC special assessment(6)		—		—		—		13.9		0.3		—		—										—		0.1
Other notable items(7)		—		—		—		1.6		—		—		—										—		—
Effective tax rate, excluding notable items		20.2	%	16.7	%	20.9	%	17.9	%	22.8	%	22.1	%	21.1	%		0.2			(1.0)				19.1	%	21.9	%		2.8










(1) Amount in 2024 consists of a $15 million revenue-related recovery associated with the proceeds from a 2018 foreign exchange benchmark litigation resolution, which is reflected in foreign exchange trading services revenue.
(2) Amount in 2024 consists of a $66 million gain on sale of equity investment, which is reflected in other fee revenue.
(3) In 2024 and 2023, loss on the sale of investment securities of $81 million and $294 million, respectively, related to the repositioning of the investment portfolio, which is reflected in other income.
(4) Acquisition and restructuring costs related to the BBH Investor Services acquisition transaction that State Street is no longer pursuing.


(5) Amount in 2023 includes $182 million of compensation and benefits expenses related to workforce rationalization, and $21 million of occupancy charges related to real estate footprint optimization.
(6) In 2024 and 2023, FDIC special assessment of $130 million and $387 million, respectively, reflected in other expenses.
(7) Charges of $41 million in information systems and communications and $4 million, net, in other expenses, primarily associated with operating model changes.
(8) Calculated as the period-over-period change in total fee revenue less the period-over-period change in total expenses.
(9) 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.
(10) Calculated as the period-over-period change in total revenue less the period-over-period change in total expenses.
(11) 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.


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

GAAP-Basis QTD Comparison	Reported						Currency Translation Impact					Excluding Currency Impact				% Change Constant Currency
(Dollars in millions)	3Q23		2Q24		3Q24		3Q24 vs. 3Q23		3Q24 vs. 2Q24			3Q24 vs. 3Q23		3Q24 vs. 2Q24		3Q24 vs. 3Q23		3Q24 vs. 2Q24
GAAP-Basis Results:
Fee revenue:
Back office services	$	1,138	$	1,146	$	1,167	$	3	$	7		$	1,164	$	1,160	2.3	%	1.2	%
Middle office services	96		93		99		1		1			98		98		2.1		5.4
Servicing fees	1,234		1,239		1,266		4		8			1,262		1,258		2.3		1.5
Management fees	479		511		527		—		1			527		526		10.0		2.9
Foreign exchange trading services	313		336		374		—		—			374		374		19.5		11.3
Securities finance	103		108		116		—		—			116		116		12.6		7.4
Front office software and data	130		152		146		—		1			146		145		12.3		(4.6)
Lending related and other fees	58		62		62		—		—			62		62		6.9		—
Software and processing fees	188		214		208		—		1			208		207		10.6		(3.3)
Other fee revenue	44		48		125		—		—			125		125		nm		nm
Total fee revenue	2,361		2,456		2,616		4		10			2,612		2,606		10.6		6.1
Net interest income	624		735		723		2		7			721		716		15.5		(2.6)
Total other income	(294)		—		(80)		—		—			(80)		(80)		nm		nm
Total revenue	$	2,691	$	3,191	$	3,259	$	6	$	17		$	3,253	$	3,242	20.9		1.6

Expenses:
Compensation and employee benefits	$	1,082	$	1,099	$	1,134	$	7	$	9		$	1,127	$	1,125	4.2		2.4
Information systems and communications	411		454		463		—		1			463		462		12.7		1.8
Transaction processing services	241		250		255		—		1			255		254		5.8		1.6
Occupancy	101		106		105		—		1			105		104		4.0		(1.9)

Amortization of other intangible assets	60		60		56		—		—			56		56		(6.7)		(6.7)
Other	285		300		295		2		2			293		293		2.8		(2.3)
Total expenses	$	2,180	$	2,269	$	2,308	$	9	$	14		$	2,299	$	2,294	5.5		1.1

Total expenses, excluding notable items - Non-GAAP	$	2,180	$	2,269	$	2,308	$	9	$	14		$	2,299	$	2,294	5.5		1.1
Total non-compensation expenses, excluding notable items - Non-GAAP(1)	1,098		1,170		1,174		2		5			1,172		1,169		6.7		(0.1)


GAAP-Basis YTD Comparison	Reported				Currency Translation Impact		Excluding Currency Impact		% Change Constant Currency
(Dollars in millions)	2023		2024		YTD2024 vs.YTD2023		2024		YTD2024 vs. YTD2023
GAAP-Basis Results:
Fee revenue:
Back office services	$	3,433	$	3,449	$	1	$	3,448	0.4		%
Middle office services	277		284		1		283		2.2
Servicing fees	3,710		3,733		2		3,731		0.6
Management fees	1,397		1,548		(2)		1,550		11.0
Foreign exchange trading services	958		1,041		—		1,041		8.7
Securities finance	329		320		—		320		(2.7)
Front office software and data	401		442		1		441		10.0
Lending related and other fees	173		187		—		187		8.1
Software and processing fees	574		629		1		628		9.4
Other fee revenue	147		223		—		223		51.7
Total fee revenue	7,115		7,494		1		7,493		5.3
Net interest income	2,081		2,174		2		2,172		4.4
Total other income	(294)		(80)		—		(80)		nm
Total revenue	$	8,902	$	9,588	$	3	$	9,585	7.7

Expenses:
Compensation and employee benefits	$	3,497	$	3,485	$	9	$	3,476	(0.6)
Information systems and communications	1,230		1,349		—		1,349		9.7
Transaction processing services	715		753		1		752		5.2
Occupancy	298		314		1		313		5.0

Amortization of other intangible assets	180		176		—		176		(2.2)
Other	841		1,013		(1)		1,014		20.6
Total expenses	$	6,761	$	7,090	$	10	$	7,080	4.7

Total expenses, excluding notable items - Non-GAAP	$	6,761	$	6,960	$	10	$	6,950	2.8
Total non-compensation expenses, excluding notable items - Non-GAAP(1)	3,264		3,475		1		3,474		6.4

(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 $1,134 million in the third quarter of 2024, $1,099 million in the second quarter of 2024 and $1,082 million in the third quarter of 2023.



STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
September 30, 2024


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
Allowance for Credit Losses			11
Assets Under Custody and/or Administration			12
Assets Under Management			13
Line of Business Information			14

Capital:
Regulatory Capital			15
Reconciliations of Tangible Book Value per Share and Return on Tangible Common Equity			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






This financial information should be read in conjunction with State Street's news release dated October 15, 2024.