State Street Corporation (NYSE: STT) today announced its intention to increase its per share common stock dividend by 10% to $0.76 in the third quarter of 2024, subject to consideration and approval by its Board of Directors. State Street continues to be authorized to repurchase common shares under its existing share repurchase program previously approved by its Board of Directors.

The Company also announced today that it had completed the Federal Reserve’s 2024 Comprehensive Capital Analysis and Review (CCAR) stress test process. State Street’s calculated Stress Capital Buffer (SCB) under this year’s supervisory stress test was well below the 2.5% minimum, preliminarily resulting in a continued SCB at that floor, which maintains its common equity tier 1 (CET1) ratio requirement at 8%1. The Federal Reserve will release the firm’s final SCB requirement by August 31, 2024, which will become effective on October 1, 2024 and remain in effect through September 30, 2025. The results of the firm’s 2024 annual stress test, with its disclosure, are available on the Investor Relations section of its website at http://investors.statestreet.com.

“We are pleased with the outcome of the 2024 CCAR process, as it once again confirms the financial strength and resiliency of State Street under severely adverse economic conditions,” said Chairman and Chief Executive Officer Ron O’Hanley. “In addition, our earnings and balance sheet capacity have enabled us to announce another planned increase to our quarterly common dividend, as we continue to deliver value for our shareholders,” O’Hanley added.

State Street’s Board of Directors will consider the common stock dividend at a regularly scheduled board meeting in the third quarter of 2024. State Street’s third quarter 2024 common stock and other stock dividends, including the declaration, timing and amount, remain subject to consideration and approval by State Street’s Board of Directors at the relevant times.

Stock purchases under State Street’s common share repurchase program may be made using various types of transactions, including open-market purchases, accelerated share repurchases or other transactions off the market, and may be made under Rule 10b5-1 trading programs. The timing and amount of any stock purchases and the type of transaction may not be ratable over the duration of the program, may vary from reporting period to reporting period and will depend on several factors, including State Street’s capital position and financial performance, investment opportunities, market conditions, the nature and timing of implementation of revisions to the Basel III framework and the amount of common stock issued as part of employee compensation programs. The common share repurchase program does not have specific price targets and may be suspended at any time.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $43.9 trillion in assets under custody and/or administration and $4.3 trillion* in assets under management as of March 31, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 46,000 worldwide as of March 31, 2024. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of March 31, 2024 includes approximately $66 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Forward Looking Statements

This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about our intentions, plans and expectations regarding our quarterly common stock dividends, our share repurchase program and results of regulatory evaluations of our capital. Forward looking statements are often, but not always, identified by such forward-looking terminology as “plan,” “intend,” “will,” “outlook,” “priority,” “expect,” “aim,” “outcome,” “future,” “strategy,” “pipeline,” “trajectory,” “target,” “guidance,” “objective,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “trend,” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements.

This News Release references important factors that may affect future results and outcomes .In addition to those factors, other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2023 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.

________________________ 1 8.0% CET1 requirement effective as of October 1, 2024 is composed of the 4.5% minimum regulatory requirement, 2.5% SCB, and the current 1% G-SIB surcharge.

Investor Contact: Elizabeth Lynn +1 617 664 3477

Media Contact: Carolyn Cichon +1 617 664 8672

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