Slide 1: First Quarter 2013 Financial Highlights
LIMITED ACCESS State Street Corporation First Quarter 2013 Financial Highlights April 19, 2013 Exhibit 99.3
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation contains forward-looking statements as defined by United States securities laws, including statements relating to our goals and expectations regarding our business, financial condition, results of operations, investment portfolio performance and strateg
Slide 3: First-Quarter 2013 Financial Highlights
3 • GAAP-basis EPS of $0.98 compared to $1.00 in Q4 ’12; up 15% from $0.85 in Q1 ’12 • GAAP-basis revenue decreased slightly to $2.44 billion from $2.45 billion in Q4 ’12; up from $2.42 billion in Q1 ’12 • Operating-basis(1) EPS of $0.96 decreased 14% from $1.11 in Q4 ’12; up 14% from $0.84 in Q1 ’1
Slide 4: First-Quarter 2013 Financial Highlights (Continued)
4 First-Quarter 2013 Financial Highlights(1) (Continued) • Market-driven revenues – Foreign-exchange trading revenue increased 24% to $146 million from Q4 ‘12 due to higher volumes and volatilities – Securities finance revenue increased 5.4% to $78 million from Q4 ‘12 due to slightly higher volumes
Slide 5: First-Quarter 2013 Financial Highlights (Continued)
5 First-Quarter 2013 Financial Highlights (Continued) • Strong capital position – Return of capital to shareholders through common stock purchases and dividends – Purchased approximately 6.5 million shares of our common stock in the first quarter at an average price of $54.95 per share for a total c
Slide 6: Summary of First-Quarter 2013 GAAP-Basis Financial Results
6 Summary of First-Quarter 2013 GAAP-Basis Financial Results $ in millions, except per share data Q1'13 Q4'12 Q1'12 vs Q4'12 vs Q1'12 Revenue 2,435$ 2,449$ 2,421$ (0.6)% 0.6% Expenses 1,826$ 1,864$ 1,835$ (2.0)% (0.5)% Earnings per share (EPS) 0.98$ 1.00$ 0.85$ (2.0)% 15.3% Return on average common
Slide 7: Summary of First-Quarter 2013 Operating-Basis (Non-GAAP) Financial Results
7 Summary of First-Quarter 2013 Operating-Basis (Non-GAAP) Financial Results(1) (1) Results presented on an operating basis, a non-GAAP presentation. Refer to the addendum linked to this presentation for explanations of our non-GAAP financial measures and for reconciliations of our operating-basis f
Slide 8: Operating-Basis (Non-GAAP) Revenue
8 Operating-Basis (Non-GAAP) Revenue(1) (1) Results presented on an operating basis, a non-GAAP presentation. Refer to the addendum linked to this presentation for explanations of our non-GAAP financial measures and for reconciliations of our operating-basis financial information. Key Drivers • Sequ
Slide 9: Operating-Basis (Non-GAAP) Expenses
9 Operating-Basis (Non-GAAP) Expenses(1) Key Drivers • Compensation and employee benefits increased from Q4 ’12 due to the effect of equity incentive compensation expense for retirement-eligible employees and payroll taxes; decreased from Q1 ’12 due in part to savings associated with the Business Op
Slide 10: Balance Sheet Strategy and Investment Portfolio Highlights
10 Balance Sheet Strategy and Investment Portfolio Highlights Balance Sheet Strategy Guidelines Invest in high quality assets • Invest through the cycle • Solid credit profile: ~90% AAA / AA-rated • Diversify by asset class and geography Prudently manage balance sheet within risk appetite • Target p
Slide 11: Capital
11 Capital (1) All capital ratios in this presentation refer to State Street Corporation and not State Street Bank and Trust Company. Total risk-based capital, or total capital, tier 1 risk-based capital, or tier 1 capital, and tier 1 leverage ratios are calculated using currently applicable regulat
Slide 12: Addendum
12 ADDENDIX A. Investment Portfolio B. Non-GAAP Measures and Capital Ratios Pages 13-19 20
Slide 13: A. Investment Portfolio
B STATE STREET. A. Investment Portfolio
Slide 14: Investment Portfolio
14 Portfolio amounts are expressed at Book Value; Book Value includes the amortized cost of transferred securities at the time they were transferred. OECD=Organization for Economic Cooperation and Development FFELP=Federal Family Education Loan Program Government / Agency Structured Securities Unsec
Slide 15: Investment Portfolio highlights
15 • Assets selected using rigorous credit process • Diversified by asset class and geography • 87.7% rated AAA / AA • Constructed to perform well through periods of economic weakness • Unrealized after-tax available for sale (AFS) and held to maturity (HTM) mark-to-market (MTM) gain = $817M(1) Port
Slide 16: Investment Portfolio ratings and book value
16 Ratings(1) Book Value ($B) Book Value (% Total) Unrealized After-tax MTM Gain / (Loss) ($M) Investment UST / AGY AAA AA A BBB <BBB Not Rated Fixed Rate / Floating Rate Government/Agency securities 66% 19% 15% — — — — 8.8 7.6 (9) 91% / 9% Asset-backed securities — 66% 26% 4% 1% 3% — 53.4 45.9 128
Slide 17: Asset-Backed Securities holdings
17 Ratings(1) Book Value ($B) Book Value (% Total) Unrealized After-tax MTM Gain / (Loss) ($M) Investment UST / AGY AAA AA A BBB <BBB Not Rated Student Loans — 30% 68% 2% — — — 16.3 30.5 (113) Credit Cards — 99% — — 1% — — 11.3 21.2 40 Auto/Equipment — 99% — — — 1% — 4.5 8.4 11 Non-US RMBS — 80% 6%
Slide 18: Mortgage-backed Securities Holdings
18 Ratings(1) Book Value ($B) Book Value (% Total) Unrealized After-tax MTM Gain / (Loss) ($M) Investment UST / AGY AAA AA A BBB <BBB Not Rated Agency MBS 100% — — — — — — 28.3 79.0 321 Non-Agency MBS — 19% 10% 22% 13% 36% — 2.0 5.6 9 CMBS 2% 77% 10% 10% — 1% — 5.5 15.4 81 TOTAL MBS 79% 13% 2% 3% 1%
Slide 19: Non-US Investments by country
19 March 31, 2013 Book Book Value ($B) Value Average Gov't/ ABS ABS Corporate Covered ($B) Rating Agency (1) FRMBS All Other Bonds Bonds Other United Kingdom 10.4 AAA - 7.6 2.2 0.4 0.2 - Australia 6.1 AA - 3.1 1.2 0.2 0.4 1.2 Netherlands 3.5 AAA - 3.1 0.2 0.1 0.1 - Canada 2.1 AAA 1.7 - - 0.3 0.1 - G
Slide 20: B. Non-GAAP Measures and Capital Ratios
20 B. Non-GAAP Measures and Capital Ratios Refer to the addendum linked to this presentation for explanations of our non-GAAP financial measures and for reconciliations of our operating-basis financial information. To access the addendum Click Here or go to www.statestreet.com/stockholder and click