Slide 1: 2Q 2025 Financial Highlights
= STATE = STREET 2Q 2025 Financial Highlights NYSE: STT
Slide 2: Financial performance
All comparisons are to corresponding prior year period unless otherwise noted. See note A below for a description of ex-notables presentation. • Total revenue of $3.4B, up 8%; up 9% ex-notables; Fee revenue of $2.7B, up 11%; up 12% ex-notables • Total expenses of $2.5B, up 11%; up 6% ex-notables Fin
Slide 3: Repositioning charge of $100M
A Quarters ($M, except EPS data) 2Q24 1Q25 2Q25 Repositioning charge of $100M • $100M related to Compensation and employee benefits primarily from Repositioning charge - - ($100) workforce rationalization Client rescoping Client rescoping Revenue impact - - (24) • Revenue impact: $(24)M Alpha-relate
Slide 4: Financial results Key drivers
Financial results Key drivers Quarters %∆ All comparisons are to corresponding prior year period unless otherwise noted. See note A below for a description of ex-notables presentation. (GAAP; $M, except EPS data, or where otherwise noted) 2Q24 1Q25 2Q25 1Q25 2Q24 Revenue: Servicing fees $1,239 $1,27
Slide 5: Market indices
7 Market indices 1 AUC/A ($T, as of period-end) 2Q25 vs. +11% 2Q24 1Q25 +5% Equity & Bond Indices (End of Period): S&P 500 14% 11% $46.7 $49.0 • Up 11% YoY and 5% QoQ mainly due to $44.3 higher quarter-end market levels, flows, MSCI EAFE 15 11 and the impact of currency translation MSCI EM 13 11 MSC
Slide 6: Servicing fees
Servicing fees ($M) Performance indicators 2Q24 3Q24 4Q24 1Q25 2Q25 +5% 1 AUC/A ($B) +2% AUC/A wins $291 $466 $1,098 $182 $1,093 $1,266 $1,283 $1,275 $1,304 AUC/A to be installed 2,390 2,354 2,988 3,056 3,975 $1,239 2 Servicing ($M) Servicing fee rev. wins $72 $84 $154 $55 $145 Servicing fee rev. to
Slide 7: Management fees
Management fees ($M) 1 Performance indicators ($B) 2Q24 3Q24 4Q24 1Q25 2Q25 +10% Flat AUM $4,369 $4,732 $4,715 $4,665 $5,117 Net flows (QoQ) (6) 100 64 (13) 82 $576 $562 $562 $511 $527 1 Business momentum 2Q24 3Q24 4Q24 1Q25 2Q25 • Strategic partnership: Strategic investment in smallcase, a wealth t
Slide 8: FX trading services Securities finance
8 FX trading services (Ex-notable items, non-GAAP, $M) A Securities finance ($M) +27% +17% +18% +11% $428 $126 $116 $118 $114 $359 $360 $362 $108 $336 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 2Q25 performance A (Ex-notable items, non-GAAP) FX trading services of $428M8 Securities finance of
Slide 9: Software and processing fees
9 Software and processing fees (Ex-notable items, non-GAAP, $M)A Performance indicators ($M) +19% 2Q24 3Q24 4Q24 1Q25 2Q25 +13% New bookings10 $3 $10 $48 $9 $6 $259 $254 YoY % ARR11 345 356 375 373 379 42 $225 nm Uninstalled revenue backlog12 99 100 134 137 143 48 $214 $208 13 20 On-premises 18 8 44
Slide 10: NII
16 NII ($M) A Average balance sheet highlights ($B) 2Q24 3Q24 4Q24 1Q25 2Q25 -1% Total assets $306 $315 $327 $337 $354 +2% Cash17 91 90 94 97 102 $735 $723 $749 $714 $729 Investment portfolio 105 107 105 110 112 Duration (EOP) 18 2.5 2.5 2.2 2.1 2.0 Loans19 39 40 42 44 45 Total deposits $221 $225 $2
Slide 11: Expenses
Expenses 2Q25 performance A (Ex-notable items, non-GAAP, $M) (Ex-notable items, non-GAAP)A Expenses of $2,412M up 6% YoY and down (2)% QoQ +6% 20 • Compensation and employee benefits of $1,180M -2% – Up 7% YoY with approximately half of the increase due to higher performance-based incentive compensa
Slide 12: Capital and liquidity metrics
4 Capital (%, as of period-end) Capital and liquidity metrics CET1 ratio (Standardized) 2Q24 1Q25 2Q25 Capital Return ($M) 11.2% 11.6% 10.9% 11.0% 10.7% 10-11% STT Target Declared common dividends $207 $220 $217 Range Common share repurchases 200 100 300 1.0% G-SIB surcharge Total capital return 407
Slide 13: State Street
—_ STATE = STREET.
Slide 14: Appendix contents
2Q25 line of business performance 15 Preferred stock dividends 16 Reconciliation of notable items 17 Reconciliation of constant currency impacts 18 Endnotes & other information 19 Forward-looking statements 21 Non-GAAP measures 22 Definitions 23 14
Slide 15: Investment Servicing Investment Management State Street
Investment Servicing Investment Management State StreetA Total revenue YoY % ∆ Total revenueB YoY % ∆ Total revenue ex-notable itemsC YoY % ∆ $2,844M +8% $3,469M +9% $2,624M $3,191M +12% $625M +10% Fee 2,118 $567M Fee 2,740 +12% 1,894 2,456 revenue revenue NII 730 726 -1% NII 735 729 -1% 2Q24 2Q25 2
Slide 16: FY2025 FY2026
FY2025 FY2026 1Q $46 $58 2Q 63 58 3Q 58 58 4Q 58 58 Total $226 $233 Refer to the Appendix included with this presentation for endnotes 1 to 27. 16
Slide 17: Quarterly reconciliation
Quarterly reconciliation % Change Year-to-Date % Change 2Q25 2Q25 YTD 2025 vs. vs. vs. (Dollars in millions, unless noted otherwise) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 1Q25 2024 2025 YTD 2024 Total fee revenue, GAAP-basis $ 2,422 $ 2,456 $ 2,616 $ 2,662 $ 2,570 $ 2,719 10.7% 5.8% $ 4,878 $ 5,289 8.4
Slide 18: Currency Translation Impact
Currency Translation Excluding Currency % Change Constant Reconciliation of Constant Currency FX Impacts Reported Impact Impact Currency 2Q25 2Q25 2Q25 2Q25 2Q25 2Q25 vs. vs. vs. vs. vs. vs. (Dollars in millions) 2Q24 1Q25 2Q25 2Q24 1Q25 2Q24 1Q25 2Q24 1Q25 Non-GAAP basis Servicing fees, excluding n
Slide 19: This presentation includes certain highlights
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 2025 financial results. That news release contains a more detailed discussion of many of the matters de
Slide 20: Front office bookings and ARR definitions
10. Front office bookings represent signed ARR contract values for CRD, CRD for Private Markets, Alpha Data Platform, and Alpha Data Services excluding bookings with affiliates, including State Street Investment Management. Front office revenue derived from affiliate agreements is eliminated in cons
Slide 21: This Presentation contains 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 condition, results of operations, t
Slide 22: 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.
Slide 23: Definitions
ACWI All Country World Index ARR Annual recurring revenue AUC/A Assets under custody and/or administration AUM Assets under management Bloomberg Global Agg Bloomberg Global Agg represents Bloomberg Global Aggregate Bond Index CET1 ratio Common equity tier 1 ratio CRD Charles River Development Dilute