State Street Corporation · NYSE:STT
State Street — Q1 2026 Earnings Presentation
21 slides from State Street's earnings presentation, Apr 17, 2026
Slide 1: 1Q 2026 Financial Highlights
1Q 2026 Financial Highlights NYSE: STT April 17, 2026 1
Slide 2: 1Q26 highlights
1Q26 highlights All comparisons are to corresponding prior year period unless otherwise noted. Ex-notables A 1Q26 Investment Servicing $3.8B Investment Services Total revenue 1,2 ▲16% • Record AUC/A of $54.5T at quarter-end; AUC/A wins of $365B 2 • New servicing fee revenue wins of $56M ® 1 $3.0B •
Slide 3: Summary of 1Q26 financial results
Summary of 1Q26 financial results A Financial results Performance highlights Quarters %∆ All comparisons are to corresponding prior year period unless otherwise noted. See note B below for a description of ex-notables presentation. (GAAP; $M, except EPS data, or where otherwise noted) 1Q25 4Q25 1Q26
Slide 4: Servicing fees
Servicing fees Servicing fees ($M) 1Q26 performance Servicing fees of $1,409M up 11% YoY and 2% QoQ +11% +2% • Up 11% YoY and 2% QoQ primarily driven by higher average market levels and the benefit of currency translation, plus organic growth $1,357 $1,388 $1,409 $1,275 $1,304 1Q25 2Q25 3Q25 4Q25 1Q
Slide 5: Management fees
Management fees Management fees ($M)A 1Q26 performance +23% Management fees of $724M up 23% YoY and 1% QoQ +1% • Up 23% YoY driven by higher average market levels and net inflows • Up 1% QoQ driven by net inflows and higher average market levels, $717 $724 partially offset by lower day count $664 $5
Slide 6: FX trading services and Securities finance
FX trading services and Securities finance 9, A FX trading services (Ex-notable items, non-GAAP, $M) B 1Q26 performance +29% FX trading services of $435M up 29% YoY and 24% QoQ +24% • Up 29% YoY primarily due to higher volumes $435 • Up 24% QoQ driven by higher volumes and higher spreads associated
Slide 7: Software services
Software services 10,12 Software services (Ex-notable items, non-GAAP, $M) A 1Q26 performance 10,12 +7% Software services of $169M up 7% YoY and 4% QoQ +4% • Software and data revenue of $114M increased 3% YoY primarily $193 YoY % driven by 30+ go-lives and conversions $167 $163 $169 $158 48 On-prem
Slide 8: Net interest income
Net interest income 6 NII ($M) 1Q26 performance +17% NII of $835M up 17% YoY and 4% QoQ +4% • Up 17% YoY primarily driven by a 16bps increase in NIM and a 1% $802 $835 increase in average interest-earning assets $714 $729 $715 – NIM increased 16bps YoY largely due to an improved funding mix and inve
Slide 9: Expenses
Expenses Expenses 1Q26 performance A A (Ex-notable items, non-GAAP, $M) (Ex-notable items, non-GAAP) Expenses of $2,681M up 9% YoY and 6% QoQ +9% – Up 9% YoY driven primarily by higher revenue-related costs, continued +6% investments, and the negative impact of currency translation – Up 6% QoQ drive
Slide 10: Capital and liquidity
Capital and liquidity 5 Capital (%, as of period-end) Capital and liquidity metrics CET1 ratio (Standardized) 1Q25 4Q25 1Q26 Capital Return ($M) 11.0% 10.7% 11.3% 11.6% 10.6% 10-11% STT Target Declared common dividends $220 $235 $233 Range Common share repurchases 100 400 400 1.0% G-SIB surcharge 19
Slide 11: State Street
—_ STATE = STREET.
Slide 12: Appendix
State Street NDFI Overview 13 Impact of reclassifications 14 Reconciliation of notable items 15 Appendix Reconciliation of constant currency impacts Endnotes & other information Forward-looking statements 16 17 19 Non-GAAP measures 20 Definitions 21 12
Slide 13: State Street NDFI Overview
State Street NDFI Overview State Street’s NDFI portfolio is strategically aligned with Investment Services clients and is highly collateralized, diversified and has demonstrated resilient performance across multiple credit cycles All figures in $ billions Total assets: $366.0BA Total loans: $46.8B N
Slide 14: Impact of reclassifications
Impact of reclassifications 1Q25 2Q25 3Q25 4Q25 1Q26 FY2025 FY2026 YTD Fee revenue: Servicing fees - - - - - - - Management feesA $25 $38 $52 $55 $47 $170 $47 FX trading servicesA (25) (38) (52) (55) (47) (170) (47) Securities finance - - - - - - - Software servicesB (67) (61) (60) (58) (57) (246) (
Slide 15: Reconciliation of notable items
Reconciliation of notable items Quarterly reconciliation % Change 1Q26 1Q26 vs. vs. (Dollars in millions, unless noted otherwise) 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 4Q25 Total fee revenue, GAAP-basis $ 2,570 $ 2,719 $ 2,829 $ 2,862 $ 2,960 15.2% 3.4% Less: Notable items: Foreign exchange trading services
Slide 16: 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 1Q26 1Q26 1Q26 1Q26 1Q26 1Q26 vs. vs. vs. vs. vs. vs. (Dollars in millions) 1Q25 4Q25 1Q26 1Q25 4Q25 1Q25 4Q25 1Q25 4Q2
Slide 17: 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 first quarter 2026 financial results. That news release contains a more detailed discussi
Slide 18: Endnotes & other information (cont.)
Endnotes & other information (cont.) 8. 4Q25 Repositioning charges of $(226)M represents $111M reflected in Compensation and employee benefits primarily from workforce rationalization, $69M reflected in Occupancy costs associated with real estate footprint optimization, and Operating model changes o
Slide 19: 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 20: 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 21: Definitions
Definitions ARR Annual recurring revenue AUC/A Assets under custody and/or administration AUM Assets under management BDC Business Development Company CET1 ratio Common equity tier 1 ratio CLO Collateralized Loan Obligation CRD Charles River Development Diluted earnings per share (EPS) Net income av