Slide 1: 2Q 2026 Financial Highlights
2Q 2026 Financial Highlights NYSE: STT July 16, 2026 1
Slide 2: Agenda
2Q 2026 Financial Highlights 3 Agenda Medium-term Financial Update Appendix 13 21 2
Slide 3: 2Q26 highlights
2Q26 highlights All comparisons are to corresponding prior year period unless otherwise noted. Ex-notables A 2Q26 2026 YTD Investment Services • Record AUC/A of $57.9T at quarter-end; AUC/A wins of $384B1,2 $4.0B $7.8B • Record Servicing fees of $1.5B Total revenue ▲17% ▲16% • New servicing fee reve
Slide 4: Summary of 2Q26 financial results
Summary of 2Q26 financial results A Financial results Performance highlights Quarters %∆ All comparisons are to corresponding prior year period unless otherwise noted. See note A below for a (GAAP; $M, except EPS data, or where otherwise noted) 2Q25 1Q26 2Q26 1Q26 2Q25 description of ex-notables pre
Slide 5: Servicing fees
Servicing fees Servicing fees ($M) 2Q26 performance Servicing fees of $1,468M up 13% YoY and 4% QoQ +13% +4% • Up 13% YoY and 4% QoQ primarily driven by organic growth and higher average market levels10 $1,388 $1,409 $1,468 $1,304 $1,357 2Q25 3Q25 4Q25 1Q26 2Q26 Performance indicators 2Q26 business
Slide 6: Management fees
Management fees Management fees ($M) 2Q26 performance +29% Management fees of $772M up 29% YoY and 7% QoQ +7% • Up 29% YoY and up 7% QoQ driven by higher average market levels and quarterly net inflows of $114B $717 $724 $772 $664 $600 1 2Q26 business momentum • Product innovation: 38 new products a
Slide 7: FX trading services and Securities finance
FX trading services and Securities finance 11 FX trading services (Ex-notable items, non-GAAP, $M) A Securities finance ($M) +27% +19% +14% +29% $494 $150 $435 $138 $390 $126 $127 $364 $350 $116 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 2Q26 performance 2Q26 performance FX trading services o
Slide 8: Software services
Software services 12,13 Software services (Ex-notable items, non-GAAP, $M) A 2Q26 performance 12,13 -14% Software services of $166M down (14)% YoY and (2)% QoQ -2% • On-premises revenue down $(40)M YoY, primarily reflecting elevated $193 YoY % renewal activity in the year-ago period $167 $163 $169 $
Slide 9: Net interest income
Net interest income 7 NII ($M) 2Q26 performance +18% NII of $860M up 18% YoY and 3% QoQ +3% • Up 18% YoY reflecting a 17bps increase in NIM $802 $835 $860 $729 $715 – NIM increased 17bps YoY largely due to both an improved funding and investment portfolio mix as well as a reduction in the impact of
Slide 10: Expenses
Expenses Expenses 2Q26 performance A A (Ex-notable items, non-GAAP, $M) (Ex-notable items, non-GAAP) Expenses of $2,659M up 10% YoY and down (1)% QoQ +10% – Up 10% YoY primarily driven by higher revenue-related costs and -1% continued strategic investments – Down (1)% QoQ largely reflecting seasonal
Slide 11: Capital and liquidity
Capital and liquidity 6 Capital (%, as of period-end) Capital and liquidity metrics CET1 ratio (Standardized) 2Q25 1Q26 2Q26 Capital Return ($M) 10.7% 11.3% 11.6% 10.6% 10.8% Declared common dividends $217 $233 $231 Common share repurchases 300 400 400 Total capital return 517 633 631 Capital ($B) C
Slide 12: FY2026 updated outlook and key assumptions
FY2026 updated outlook and key assumptions Prior OutlookA,B FY2026 Updated OutlookA Key AssumptionsA • Global equity markets flat from 2Q quarter- Fee end Up ~7 – 9% YoY Up ~12 – 13% YoY Revenue • Organic growth in Investment Services and Investment Management NII Up ~8 – 10% YoY Up ~14 – 15% YoY •
Slide 13: Medium-term Financial Update
Medium-term Financial Update 13
Slide 14: Global scale, integrated as One State Street
Global scale, integrated as One State Street, serving the world’s leading investors >10% $57.9T $6.3T 100+ 234 of the world’s assets AUC/A AUM Markets where we do business years of experience entrusted to us24 One Platform Experience by client segment Investment Services Asset Managers Leading globa
Slide 15: Building on improved performance to deliver against medium-term targets
Building on improved performance to deliver against medium -term targets Track record of improved performanceA Key strategic pillars Delivering continued improvement Pre-tax margin (%) 1. Global franchises at scale Medium-Term Targets Providing differentiated capabilities to drive 31.7% 35% revenue
Slide 16: Delivering improved performance to unlock shareholder value
Delivering improved performance to unlock shareholder value Illustrative pre-tax margin expansion underpinned by key strategic pillars ~100bps +/- 35% ~200bps +/- ~300bps +/- 29% FY2025 Investment Services Investment Management Markets Medium-Term Extend ETF servicing leadership ETFs, Index, Fixed I
Slide 17: Transformation accelerating execution of product platform operating model
Transformation accelerating execution of product platform operating model Improving client experience, funding strategic investments, and driving durable margin expansion Our Transformation pillars and intended future state • Cross-functional agile teams integrating technology, business, and 1. Oper
Slide 18: Disciplined capital allocation framework
Disciplined capital allocation framework Capital allocation priorities Medium-term assumptions • Support common dividend growth Total payout ratio: • Drive organic growth by investing in our businesses and deepening client relationships; potential to accelerate strategy 80% +/- via opportunistic str
Slide 19: Entering next phase of growth and unlocking shareholder value
Entering next phase of growth and unlocking shareholder value Well positioned to deliver continued growth, expand pre-tax margin and improve returns over the medium term • Record AUC/A, AUM, and FX client volumes in 2Q26 • Record Total revenues, Servicing fees, Management fees, and FX trading servic
Slide 20: State Street
—_ STATE = STREET.
Slide 21: Appendix
Notable items 22 Reconciliation of notable items 23 Reconciliation of constant currency impacts 24 Appendix Endnotes & other information Forward-looking statements 25 28 Non-GAAP measures 29 Definitions 30 21
Slide 22: Notable items
Notable items B 2Q25 Repositioning charges of $100M reflected in Compensation and QuartersA ($M, except EPS data) 2Q25 1Q26 2Q26 employee benefits primarily from workforce rationalization. 1Q26 Repositioning charges of $89M represents $79M reflected in Repositioning chargesB $(100) $(89) - Compensat
Slide 23: Reconciliation of notable items
Reconciliation of notable items Quarterly reconciliation % Change Year-to-Date % Change 2Q26 2Q26 YTD 2026 vs. vs. vs. (Dollars in millions, unless noted otherwise) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 1Q26 2025 2026 YTD 2025 Total fee revenue, GAAP-basis $ 2,570 $ 2,719 $ 2,829 $ 2,862 $ 2,960 $ 3,18
Slide 24: Reconciliation of constant currency impacts
Reconciliation of constant currency impacts Reconciliation of Constant Currency FX Impacts Currency Translation Excluding Currency % Change Constant Reported Impact Impact Currency 2Q26 2Q26 2Q26 2Q26 2Q26 2Q26 vs. vs. vs. vs. vs. vs. (Dollars in millions) 2Q25 1Q26 2Q26 2Q25 1Q26 2Q25 1Q26 2Q25 1Q2
Slide 25: Endnotes & other information
Endnotes & other information This presentation (and the conference call accompanying it) includes certain highlights of, and also material supplemental to, State Street Corporation’s news release announcing its second quarter 2026 financial results. That news release contains a more detailed discuss
Slide 26: Endnotes & other information (cont.)
Endnotes & other information (cont.) 10. Organic growth represents growth excluding estimated market and FX impacts. 11. GAAP FX trading services of $393M in 2Q25 included a notable item related to a revenue-related recovery of $3M associated with the proceeds from a 2018 FX benchmark litigation res
Slide 27: Endnotes & other information (cont.)
Endnotes & other information (cont.) 24. >10% of world’s assets entrusted to us. Represents State Street AUC/A of $57.9T as of June 30, 2026, divided by Global Financial Assets, including Global Equity, Global Debt Securities and Global Broad Money (M3), as of December 31, 2024. Sources: SIFMA Marke
Slide 28: Forward-looking statements
Forward-looking statements This Presentation 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 conditio
Slide 29: Non-GAAP measures
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-G
Slide 30: Definitions
Definitions ARR Annual recurring revenue AUC/A Assets under custody and/or administration AUM Assets under management CET1 ratio Common equity tier 1 ratio CRD Charles River Development Diluted earnings per share (EPS) Net income available to common shareholders divided by diluted average common sha