State Street : 1Q21 Financial Tables

	Exhibit 99.2
STATE STREET CORPORATION
EARNINGS RELEASE ADDENDUM
March 31, 2021
Table of Contents
GAAP-Basis Financial Information:
4-Year Summary of Results	2
Consolidated Financial Highlights	3
Consolidated Results of Operations	4
Consolidated Statement of Condition	6
Average Statement of Condition - Rates Earned and Paid - Fully Taxable-Equivalent Basis	7
Investment Portfolio Holdings by Asset Class	8
Investment Portfolio Non-U.S. Investments	10
Assets Under Custody and/or Administration	11
Assets Under Management	12
Industry Flow Data by Asset Class	13
Line of Business Information	14
Allowance for Credit Losses	15
Non-GAAP Financial Information:
Reconciliations of Non-GAAP Financial Information	16
Reconciliation of Pre-tax Margin Excluding Notable Items	18
Reconciliation of Notable Items	19
Reconciliations of Constant Currency FX Impacts	20
Capital:
Reconciliation of Tangible Common Equity Ratio	21
Regulatory Capital	22
Reconciliations of Supplementary Leverage Ratios	23

This financial information should be read in conjunction with State Street's news release dated April 16, 2021.

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

(Dollars in millions, except per share amounts, or where otherwise noted)			2017			2018			2019			2020
Year ended December 31:
Total fee revenue	$	9,001	$	9,454	$	9,147	$	9,499
Net interest income			2,304			2,671			2,566			2,200
Other income			(39)			6			43			4
Total revenue			11,266			12,131			11,756			11,703
Provision for credit losses			2			15			10			88
Total expenses			8,269			9,015			9,034			8,716
Income before income tax expense			2,995			3,101			2,712			2,899
Income tax expense			839			508			470			479
Net income			2,156			2,593			2,242			2,420
Net income available to common shareholders	$	1,972	$	2,404	$	2,009	$	2,257
Per common share:
Diluted earnings per common share	$	5.19	$	6.39	$	5.38	$	6.32
Average diluted common shares outstanding (in thousands)			380,213			376,476			373,666			357,106
Cash dividends declared per common share	$	1.60	$	1.78	$	1.98	$	2.08
Closing price per share of common stock (at year end)			97.61			63.07			79.10			72.78
Average balance sheet:
Investment securities	$	95,779	$	88,070	$	91,768	$	109,175
Total assets			219,450			223,385			223,334			269,334
Total deposits			163,808			161,408			158,262			193,225
Ratios and other metrics:
Return on average common equity			10.5 %			12.1 %			9.4 %			10.0 %
Pre-tax margin			26.6			25.6			23.1			24.8
Pre-tax margin, excluding notable items(1)			28.7			28.8			25.8			26.3
Net interest margin, fully taxable-equivalent basis			1.29			1.47			1.42			0.97
Common equity tier 1 ratio(2)(3)(4)			11.9			11.7			11.7			12.3
Tier 1 capital ratio(2)(3)(4)			15.0			15.5			14.5			14.4
Total capital ratio(2)(3)(4)			16.0			16.3			15.6			15.3
Tier 1 leverage ratio(2)(3)			7.3			7.2			6.9			6.4
Supplementary leverage ratio(2)(3)			6.5			6.3			6.1			8.1
Assets under custody and/or administration (in trillions)	$	33.12	$	31.62	$	34.36	$	38.79
Assets under management (in trillions)			2.78			2.51			3.12			3.47

1. Notable items include acquisition and restructuring costs, repositioning charges, and other notable items. Refer to Reconciliations of pre-tax margin excluding notable items for details.
2. The capital ratios presented are calculated in conformity with the applicable regulatory guidance in effect as of each period end. Effective January 1, 2018, the applicable final rules are in effect and the ratios are calculated based on fully phased-in CET1, tier 1, total capital and supplementary leverage numbers. We did not revise previously-filed reported capital metrics and ratios.
3. Under the applicable bank regulatory rules, we are not required to and, accordingly, did not revise previously-filed reported capital metrics and ratios following the change in accounting for LIHTC.
4. The reportable ratios represent the lower of each of the risk-based capital ratios under both the Standardized Approach and the Advanced Approaches.

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STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

CONSOLIDATED FINANCIAL HIGHLIGHTS

									Quarters									% Change
																	1Q21				1Q21
(Dollars in millions, except per share amounts, or where otherwise noted)			1Q20			2Q20			3Q20			4Q20			1Q21		vs.				vs.
										1Q20				4Q20
Income statement
Fee revenue	$	2,399	$	2,378	$	2,306	$	2,416	$	2,483	3.5 %				2.8 %
Net interest income		664			559			478			499			467	(29.7)				(6.4)
Other income		2			-			-			2			-		nm				nm
Total revenue		3,065			2,937			2,784			2,917			2,950	(3.8)				1.1
Provision for credit losses(1)		36			52			-			-			(9)		nm				nm
Total expenses		2,255			2,082			2,103			2,276			2,332	3.4				2.5
Income before income tax expense		774			803			681			641			627	(19.0)				(2.2)
Income tax expense		140			109			126			104			108	(22.9)				3.8
Net income		634			694			555			537			519	(18.1)				(3.4)
Net income available to common shareholders	$	580	$	662	$	517	$	498	$	489	(15.7)				(1.8)
Per common share:
Diluted earnings per common share	$	1.62	$	1.86	$	1.45	$	1.39	$	1.37	(15.4)				(1.4)
Average diluted common shares outstanding (in thousands)		357,993			356,413			357,168			357,719			355,690	(0.6)				(0.6)
Cash dividends declared per common share	$	.52	$	.52	$	.52	$	.52	$	.52		-				-
Closing price per share of common stock (as of quarter end)		53.27			63.55			59.33			72.78			84.01	57.7				15.4
Average for the quarter:
Investment securities	$	97,560	$	116,626	$	110,448	$	112,018	$	107,809	10.5				(3.8)
Total assets		251,181			284,688			264,384			277,055			296,328	18.0				7.0
Total deposits		180,160			197,069			189,226			206,343			226,232	25.6				9.6
Securities on loan:
Average securities on loan	$	378,200	$	377,344	$	375,296	$	404,022	$	429,991	13.7				6.4
End-of-period securities on loan		387,580			381,232			395,075			457,985			451,913	16.6				(1.3)
Ratios and other metrics:
Return on average common equity		10.9 %			12.1 %			8.9 %			8.4 %			8.4 %	(250)	bps	-	bps
Pre-tax margin		25.3			27.3			24.5			22.0			21.3	(400)				(70)
Pre-tax margin, excluding notable items(2)		25.6			27.7			24.7			26.9			22.6	(300)				(430)
Net interest margin, fully taxable-equivalent basis		1.30			0.93			0.85			0.84			0.75	(55)				(9)
Common equity tier 1 ratio(3)(4)		10.7			12.3			12.4			12.3			10.8	10				(150)
Tier 1 capital ratio(3)(4)		12.9			14.6			14.7			14.4			12.4	(50)				(200)
Total capital ratio(3)(4)		14.1			15.7			15.7			15.3			14.0	(10)				(130)
Tier 1 leverage ratio(3)		6.1			6.1			6.6			6.4			5.4	(70)				(100)
Supplementary leverage ratio(3)		5.4			8.3			8.2			8.1			7.2	180				(90)
Assets under custody and/or administration (in billions)	$	31,864	$	33,515	$	36,643	$	38,791	$	40,263	26.4 %				3.8 %
Assets under management (in billions)		2,689			3,054			3,148			3,467			3,591	33.5				3.6

1. In accordance with ASU 2016-13, the provision for credit losses for 1Q20, 2Q20,3Q20 and 4Q20 includes the provision on funded and unfunded commitments as well as HTM securities.
2. Notable items include acquisition and restructuring costs, repositioning charges, 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. Effective January 1, 2018, the applicable final rules are in effect and the ratios are calculated based on fully phased-in CET1, tier 1, total capital and supplementary leverage numbers. We did not revise previously-filed reported capital metrics and ratios.
4. 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.

nm Denotes not meaningful

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STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

CONSOLIDATED RESULTS OF OPERATIONS

									Quarters										% Change
(Dollars in millions, except per share amounts, or																		1Q21				1Q21
		1Q20			2Q20			3Q20			4Q20		1Q21			vs.				vs.
where otherwise noted)												1Q20				4Q20
Fee revenue:
Servicing fees	$	1,287	$	1,272	$	1,301	$	1,307		$		1,371			6.5 %			4.9 %
Management fees(1)			464			444			479			493				493			6.3			-
Foreign exchange trading services(1)			444			325			270			324				346			(22.1)			6.8
Securities finance			92			92			84			88				99			7.6			12.5
Software and processing fees			112			245			172			204				174			55.4			(14.7)
Total fee revenue			2,399			2,378			2,306			2,416				2,483			3.5			2.8
Net interest income:
Interest income			868			674			520			513				471			(45.7)			(8.2)
Interest expense			204			115			42			14				4			(98.0)			(71.4)
Net interest income			664			559			478			499				467			(29.7)			(6.4)
Other income:
Gains (losses) related to investment securities, net			2			-			-			2				-	nm	nm
Other income			-			-			-			-				-			-	-
Total other income			2			-			-			2				-	nm	nm
Total revenue			3,065			2,937			2,784			2,917				2,950			(3.8)			1.1
Provision for credit losses			36			52			-			-			(9)			nm	nm
Expenses:
Compensation and employee benefits			1,208			1,051			1,062			1,129				1,242			2.8			10.0
Information systems and communications			385			376			395			394				421			9.4			6.9
Transaction processing services			254			233			234			257				270			6.3			5.1
Occupancy			109			109			109			162				109			-	(32.7)
Acquisition and restructuring costs			11			12			15			12				10			(9.1)			(16.7)
Amortization of other intangible assets			58			58			59			59				58			-	(1.7)
Other			230			243			229			263				222			(3.5)			(15.6)
Total expenses			2,255			2,082			2,103			2,276				2,332			3.4			2.5
Income before income tax expense			774			803			681			641				627			(19.0)			(2.2)
Income tax expense			140			109			126			104				108			(22.9)			3.8
Net income	$	634	$	694	$	555	$	537		$		519			(18.1)			(3.4)

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STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

CONSOLIDATED RESULTS OF OPERATIONS (Continued)

									Quarters									% Change
(Dollars in millions, except per share amounts, or																1Q21				1Q21
	1Q20			2Q20			3Q20			4Q20			1Q21		vs.				vs.
where otherwise noted)												1Q20				4Q20
Adjustments to net income:
Dividends on preferred stock(2)(3)	$	(53)	$	(32)	$	(38)	$	(39)	$	(30)	(43.4)%				(23.1)%
Earnings allocated to participating securities		(1)			-			-			-			-		-				-
Net income available to common shareholders	$	580	$	662	$	517	$	498	$	489	(15.7)				(1.8)
Per common share:
Basic earnings	$	1.64	$	1.88	$	1.47	$	1.41	$	1.39	(15.2)				(1.4)
Diluted earnings		1.62			1.86			1.45			1.39			1.37	(15.4)				(1.4)
Average common shares outstanding (in
thousands):
Basic		353,746			352,157			352,586			352,974			350,743	(0.8)				(0.6)
Diluted		357,993			356,413			357,168			357,719			355,690	(0.6)				(0.6)
Cash dividends declared per common share	$	.52	$	.52	$	.52	$	.52	$	.52		-				-
Closing price per share of common stock (as of		53.27			63.55			59.33			72.78			84.01	57.7				15.4
quarter end)
Financial ratios:
Effective tax rate		18.1 %			13.6 %			18.5 %			16.1 %			17.2 %	(90)	bps	110 bps
Return on average common equity		10.9			12.1			8.9			8.4			8.4	(250)				-
Return on tangible common equity(4)		18.7			19.2			16.8			15.6			13.4	(530)				(220)
Pre-tax margin		25.3			27.3			24.5			22.0			21.3	(400)				(70)
Pre-tax margin, excluding notable items(5)		25.6			27.7			24.7			26.9			22.6	(300)				(430)

1. Certain fees associated with our GLD ETFs have been reclassified from Foreign exchange trading services to Management fees to better reflect the nature of those fees. Prior periods have been reclassified to conform to current-period presentation. These fees were approximately $15 million, $19 million, $24 million and $23 million in the first, second, third and fourth quarters of 2020, respectively.
2. We redeemed all outstanding Series C noncumulative perpetual preferred stock on March 15, 2020 at a redemption price of $500 million ($100,000 per share equivalent to $25.00 per depositary share) plus accrued and unpaid dividends. The difference between the redemption value and the net carrying value of approximately $9 million resulted in an EPS impact of approximately ($.03) per share in the first quarter of 2020.
3. We redeemed an aggregate of $500 million, or 5,000 of the 7,500 outstanding shares of our non-cumulative perpetual preferred stock, Series F, for cash at a redemption price of $100,000 per share (equivalent to $1,000 per depositary share) plus all declared and unpaid dividends on March 15, 2021. The difference between the redemption value and the net carrying value of approximately $5 million resulted in an EPS impact of approximately ($.02) per share in the first quarter of 2021.
4. Return on tangible common equity is calculated by dividing year-to-date annualized net income available to common shareholders (GAAP-basis) by average tangible common equity.
5. Notable items include acquisition and restructuring costs and other notable items. Refer to Reconciliations of non-GAAP Financial Information pages for details.

nm Denotes not meaningful

5