State Street : 3Q24 Press Release

State Street Corporation

One Congress Street

Boston, MA 02114

NYSE: STT

www.statestreet.com

Boston, MA… October 15, 2024

News Release

STATE STREET REPORTS RECORD EPS OF $2.26 IN THIRD QUARTER 2024

% changes noted below reflect year-over-year 3Q comparisons

NEW INVESTMENT SERVICING AUC/A WINS OF $466 BILLION

RECORD GLOBAL ADVISORS NET INFLOWS OF $100 BILLION

REVENUE UP 21%; UP 9% EXCLUDING NOTABLE ITEMS(a)

• FEE REVENUE UP 11%; UP 7% EXCLUDING NOTABLE ITEMS(a)
• NET INTEREST INCOME UP 16%

POSITIVE FEE AND TOTAL OPERATING LEVERAGE; ROE OF 12%

Ron O'Hanley, Chairman and Chief Executive Officer: "We delivered strong financial performance and significant momentum across most business lines in the third quarter, all while supporting our clients in a dynamic operating environment. Our revenue performance reflected broad-based fee growth and higher NII, which drove positive fee and total operating leverage relative to the year-ago quarter."

O'Hanley added: "Within Investment Services, we generated $466 billion of new AUC/A wins and reported two new Alpha mandates. Our Global Markets franchise continued to benefit from increased levels of client penetration, and at Global Advisors, we achieved record quarterly net inflows of $100 billion, supported by a record quarter for our Cash business."

O'Hanley concluded: "I am encouraged by the strength of our results, which, combined with our strong balance sheet, enabled us to increase capital return relative to the prior quarter, as we repurchased $450 million of common shares in the third quarter. As we look ahead, we remain focused on delivering full-year positive fee and total operating leverage through continued execution and ongoing transformation and productivity improvement, as well as returning excess capital to our shareholders."

FINANCIAL HIGHLIGHTS

(Table presents summary results, dollars in millions, except per share		3Q24			2Q24			3Q23	% QoQ	% YoY
amounts, or where otherwise noted)
Income statement:
Total fee revenue	$	2,616	$	2,456	$	2,361	7 %	11 %
Net interest income		723			735			624	(2)	16
Other income		(80)			-			(294)	nm	73
Total revenue		3,259			3,191			2,691	2	21
Provision for credit losses		26			10			-	nm	nm
Total expenses		2,308			2,269			2,180	2	6
Net income		730			711			422	3	73
Financial ratios and other metrics:
Diluted earnings per share (EPS)	$	2.26	$	2.15	$	1.25	5 %	81 %
Return on average common equity (ROE)		12.0 %			11.9 %			7.3 %	0.1 % pts	4.7 % pts
Pre-tax margin		28.4			28.6			19.0	(0.2)% pts	9.4 % pts
AUC/A ($ billions)(1)	$46,759	$44,312	$40,017	6 %	17 %
AUM ($ billions)(1)		4,732			4,369			3,672	8	29

1. As of period-end.

1. See "3Q24 Highlights" in this news release for a listing of notable items. Results excluding notable items are non-GAAP measures. Please refer to the Addendum included with this news release for an explanation and reconciliation of non-GAAP measures.

Investor Contact: Elizabeth Lynn [phone]

Media Contact: Carolyn Cichon [phone]

1

3Q24 HIGHLIGHTS

(All comparisons are to 3Q23, unless otherwise noted)

AUC/A and AUM

• Investment Servicing AUC/A as of quarter-end increased 17% to $46.8 trillion, primarily driven by higher quarter-end market levels, net new business and client flows
• Investment Management AUM as of quarter-end increased 29% to $4.7 trillion, reflecting higher quarter-end market levels and record quarterly net inflows in 3Q24

New business and strategy execution(a)

• New wins in 3Q24
• • New servicing fee revenue wins: New servicing fee revenue wins of $84 million, with the majority driven by Back office wins
  • AUC/A wins: New servicing AUC/A wins of $466 billion, with the majority from Asset Managers
• To be installed in future periods as of 3Q24
• • Servicing fee revenue to be installed: Quarter-end servicing fee revenue of $288 million to be installed in future periods
  • AUC/A to be installed: Quarter-end AUC/A of $2.4 trillion to be installed in future periods
• State Street Alpha®: Reported 2 new mandate wins in 3Q24, for a total of 5 mandate wins year-to- date
• Front Office Software and Data: Continued momentum in SaaS client implementations and conversions increased ARR to $356 million, up 19%
• Investment Management: Record $100 billion of total net inflows, driven by record Cash inflows of $54 billion and broad strength across both the ETF and Institutional businesses
• Markets & Financing: Named Best FX Bank for Client Service, Best FX Bank for Research, Best FX Trading Technology Solution and Best Technology Provider for FX Data Management in the

Euromoney 2024 FX Awards(b)

•

Revenue

1. • Total revenue increased 21%, primarily driven by the impact of a notable item in the prior year period. Excluding notable items,(c) total revenue increased 9%, reflecting both higher Fee revenue and Net interest income (NII)
   • Fee revenue increased 11%, primarily reflecting higher Other fee revenue, FX trading services revenue, Management fees and Servicing fees
   • • Servicing fees increased3%
     • Management fees increased10%
     • FX trading services increased19%
     • Securities finance increased13%
     • Software and processing fees increased11%
     • Other fee revenue increased$81 million, primarily driven by the gain on sale of an equity investment
   • NII increased 16%, primarily reflecting higher investment securities yields and loan growth, partially offset by deposit mix shift
2. See the "In This News Release" section for explanations of AUC/A, new servicing fee revenue wins and Front office software and data annual recurring revenue (ARR).
3. State Street was recognized in Euromoney Magazine's 2024 FX Awards across four categories: Best FX Bank for Client Service, Best FX Bank for Research, Best FX Trading Technology Solution and Best Technology Provider for FX Data Management.
4. Results excluding notable items are non-GAAP measures. Please refer to the Addendum included with this news release for an explanation and reconciliation of non-GAAP measures.

2

Expenses

• Total expenses increased 6% as higher business investments as well as revenue and performance- related costs were partially offset by productivity savings from ongoing organizational process improvements and initiatives, including from the joint venture consolidations in India
• • Compensation and employee benefits increased5%
  • Information systems and communications increased13%
  • Transaction processing services increased6%
  • Occupancy increased4%
  • Other expenses increased4%

Notable items

(Dollars in millions, except EPS amounts)		3Q24		2Q24		3Q23
Investment portfolio repositioning(a)	$	(81)	$	-	$	(294)
Gain on sale of an equity investment		66		-		-
Revenue-related recovery		15		-		-
Total notable items (pre-tax)	$	-	$	-	$	(294)
Income tax impact from notable items		-		-		(79)
EPS impact	$	-	$	-	$	(0.68)

• Loss on sale of $81 million related to the repositioning of the investment portfolio reflected in 3Q24 Other Income
• Gain on sale of an equity investment of $66 million in 3Q24 reflected in Other fee revenue
• Revenue-relatedrecovery of $15 million in 3Q24 associated with the proceeds from a 2018 FX benchmark litigation resolution reflected in FX trading services

Capital and liquidity

• Standardized common equity tier 1 (CET1) ratio at quarter-end of 11.6% increased 0.6% points compared to 3Q23, and increased 0.4% points compared to 2Q24, both primarily due to capital generated from earnings and improved accumulated other comprehensive income (AOCI), partially offset by continued capital return and higher risk-weighted assets (RWA)
• Liquidity coverage ratio (LCR) for State Street Corporation was approximately 107%, and LCR for State Street Bank and Trust was approximately 129%
• In 3Q24, State Street returned a total of $674 million of capital to common shareholders, or approximately 100% of net income available to common shareholders, consisting of $450 million of share repurchases and $224 million (or $0.76 per share) of declared dividends

1. In 3Q24 and 3Q23, loss on sale of investment securities of $81 million and $294 million, respectively, related to the repositioning of certain investment securities, which is reflected in Other income.

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MARKET DATA

The following table provides a summary of selected financial information, including market indices and foreign exchange rates.

(Dollars in billions, except market indices and foreign exchange rates)	3Q24		2Q24		3Q23	% QoQ	% YoY
Assets under Custody and/or Administration (AUC/A)(1)(2)	$ 46,759	$	44,312	$	40,017	6 %	17 %
Assets under Management (AUM)(2)	4,732		4,369		3,672	8	29
Market Indices:(3)
S&P 500 EOP	5,762		5,460		4,288	6	34
S&P 500 Daily Average	5,543		5,247		4,458	6	24
MSCI EAFE EOP	2,469		2,315		2,031	7	22
MSCI EAFE Daily Average	2,380		2,325		2,113	2	13
MSCI Emerging Markets EOP	1,171		1,086		953	8	23
MSCI Emerging Markets Daily Average	1,092		1,063		992	3	10
MSCI ACWI EOP	852		802		657	6	30
MSCI ACWI Daily Average	817		782		683	4	20
Bloomberg Global Aggregate Bond Index EOP	488		456		436	7	12
Bloomberg Global Aggregate Bond Index Daily Average	475		456		448	4	6
Foreign Exchange Volatility Indices:(3)
CBOE Volatility Index (VIX) Daily Average	17.1		14.0		15.0	22	14
JPM G7 Volatility Index Daily Average	8.0		7.2		8.1	11	(2)
JPM Emerging Market Volatility Index Daily Average	8.3		7.1		8.7	16	(5)
Specials Volumes:(3)
S&P Global Industry Specials Average Volume	68,900		69,876		79,694	(1)	(14)
S&P U.S. Industry Specials Average Volume	35,809		31,021		40,805	15	(12)
Average Foreign Exchange Rates:
EUR vs. USD	1.099		1.076		1.088	2	1
GBP vs. USD	1.301		1.261		1.266	3	3

1. Includes quarter-end assets under custody of $33,667 billion, $32,161 billion and $29,113 billion, as of 3Q24, 2Q24, and 3Q23, respectively.
2. As of period-end.
3. The index names listed are service marks of their respective owners. S&P Global Specials and S&P U.S. Specials Volumes sourced from S&P Global Market Intelligence.

INDUSTRY FLOW DATA

The following table represents industry flow data.

(Dollars in billions)		3Q24		2Q24		1Q24		4Q23		3Q23
North America - (U.S. Domiciled) Morningstar
Direct Market Data:(1)(2)
Long Term Funds	$	(121)	$	(111)	$	(3)	$	(207)	$	(111)
Money Market		278		62		31		154		132
ETF		288		206		191		265		110
Total Flows(3)	$	444	$	157	$	219	$	212	$	131
EMEA - Morningstar Direct Market Data:(1)(4)
Long Term Funds	$	76	$	52	$	7	$	(66)	$	(40)
Money Market		127		39		29		130		47
ETF		63		57		47		51		31
Total Flows(3)	$	266	$	148	$	83	$	115	$	38

1. Industry data is provided for illustrative purposes only. It is not intended to reflect State Street or its clients' activity and is indicative of only segments of the entire industry. See endnotes included in the "In This News Release" section.
2. 3Q24 data for North America includes actuals for July and August 2024 and Morningstar estimates for September 2024.
3. Line items may not sum to total due to rounding.
4. 3Q24 data for EMEA is on a rolling three-month basis for June through August 2024, sourced by Morningstar.

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INVESTMENT SERVICING AUC/A

The following table presents AUC/A information by product and financial instrument.

(As of period end, dollars in billions)		3Q24		2Q24		3Q23	% QoQ	% YoY
Assets Under Custody and/or Administration(1)
By product classification:	$	15,253	$	14,573	$	13,145	5 %	16 %
Collective funds, including ETFs
Mutual funds		12,223		11,645		10,313	5	19
Pension products		9,339		8,916		8,255	5	13
Insurance and other products		9,944		9,178		8,304	8	20
Total Assets Under Custody and/or Administration	$	46,759	$	44,312	$	40,017	6 %	17 %
By asset class:	$	27,715	$	26,291	$	22,971	5 %	21 %
Equities
Fixed-income		12,027		11,303		10,688	6	13
Short-term and other investments(2)		7,017		6,718		6,358	4	10
Total Assets Under Custody and/or Administration	$	46,759	$	44,312	$	40,017	6 %	17 %

1. AUC/A values for certain asset classes are based on a lag, typically one-month.
2. Short-termand other investments includes derivatives, cash and cash equivalents and other instruments.

INVESTMENT MANAGEMENT AUM

The following tables present 3Q24 activity in AUM by product category.

				Fixed-			Multi-Asset		Alternative
		Equity			Cash		Class			Total
(Dollars in billions)		Income			Solutions	Investments(1)(2)
Beginning balance as of June 30, 2024	$	2,759	$	583	$	483	$	349	$	195	$	4,369
Net asset flows:
Long-term institutional(3)		7		1		-		2		(1)		9
ETF		27		6		-		-		4		37
Cash fund		-		-		54		-		-		54
Total flows, net	$	34	$	7	$	54	$	2	$	3	$	100
Market appreciation/(depreciation)		152		20		5		18		13		208
Foreign exchange impact		32		13		1		6		3		55
Total market and foreign exchange impact	$	184	$	33	$	6	$	24	$	16	$	263
Ending balance as of September 30, 2024	$	2,977	$	623	$	543	$	375	$	214	$	4,732

1. Includes real estate investment trusts, currency and commodities, including SPDR® Gold Shares and SPDR® Gold MiniSharesSM Trust, for which we are not the investment manager but act as the marketing agent.
2. AUM for passive alternative investments has been revised from prior presentations.
3. Amounts represent long-term portfolios, excluding ETFs.

(Dollars in billions)		3Q24		2Q24(1)		1Q24(1)		4Q23(1)		3Q23(1)
Beginning balance	$	4,369	$	4,299	$	4,102	$	3,672	$	3,787
Net asset flows:
Long-term institutional(2)		9		(8)		(24)		(2)		(30)
ETF		37		6		1		68		(1)
Cash fund		54		(4)		9		29		41
Total flows, net	$	100	$	(6)	$	(14)	$	95	$	10
Market appreciation/(depreciation)		208		83		243		297		(101)
Foreign exchange impact		55		(7)		(32)		38		(24)
Total market and foreign exchange impact	$	263	$	76	$	211	$	335	$	(125)
Ending balance	$	4,732	$	4,369	$	4,299	$	4,102	$	3,672

1. AUM for passive alternative investments has been revised from prior presentations.
2. Amounts represent long-term portfolios, excluding ETFs.

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REVENUE

(Dollars in millions)		3Q24		2Q24		3Q23	% QoQ	% YoY
Back office services	$	1,167	$	1,146	$	1,138	1.8 %	2.5 %
Middle office services		99		93		96	6.5	3.1
Servicing fees		1,266		1,239		1,234	2.2	2.6
Management fees		527		511		479	3.1	10.0
Foreign exchange trading services		374		336		313	11.3	19.5
Securities finance		116		108		103	7.4	12.6
Front office software and data		146		152		130	(3.9)	12.3
Lending related and other fees		62		62		58	-	6.9
Software and processing fees		208		214		188	(2.8)	10.6
Other fee revenue		125		48		44	nm	nm
Total fee revenue	$	2,616	$	2,456	$	2,361	6.5 %	10.8 %
Net interest income		723		735		624	(1.6)%	15.9 %
Other income		(80)		-		(294)	nm	72.8 %
Total Revenue	$	3,259	$	3,191	$	2,691	2.1 %	21.1 %
Total revenue, excluding notable items(1)	$	3,259	$	3,191	$	2,985	2.1 %	9.2 %
Net interest margin (FTE)(2)		1.07 %		1.13 %		1.12 %	(0.06)% pts	(0.05)% pts

1. See "3Q24 Highlights" in this news release for a listing of notable items. Results excluding notable items are non-GAAP measures. Please refer to the Addendum included with this news release for an explanation and reconciliation of non-GAAP measures.
2. Net Interest Margin (NIM) is presented on a fully taxable-equivalent (FTE) basis. Refer to the Addendum for reconciliations of our FTE-basis presentation.

Servicing fees increased 3% compared to 3Q23, as higher average market levels and net new business, excluding a previously disclosed client transition, were partially offset by pricing headwinds, a previously disclosed client transition and lower client activity, including asset mix shift. Servicing fees increased 2% compared to 2Q24, mainly due to higher average market levels and net new business.

Management fees increased 10% compared to 3Q23 and 3% compared to 2Q24, primarily due to higher average market levels.

Foreign exchange trading services increased 19% compared to 3Q23, primarily due to higher client volumes and a $15 million revenue-related recovery from a 2018 FX benchmark litigation resolution, partially offset by lower spreads associated with lower average FX volatility. This $15 million revenue- related recovery contributed approximately 4% points to that increase. Foreign exchange trading services increased 11% compared to 2Q24, supported by higher client volumes and the $15 million revenue- related recovery.

Securities finance increased 13% compared to 3Q23 and increased 7% compared to 2Q24, mainly due to higher client lending balances, partially offset by lower spreads primarily resulting from muted industry specials activity.

Software and processing fees increased 11% compared to 3Q23, primarily due to higher Front office software and data revenue associated with CRD. Software and processing fees decreased 3% compared to 2Q24, mainly driven by lower Front office software and data revenue associated with CRD.

• Front office software and data increased 12% compared to 3Q23, primarily due to continued strong Software-enabled revenue growth, partially offset by lower On-premises renewals. Front office software and data decreased 4% compared to 2Q24, primarily driven by lower On-premises renewals, partially offset by continued strong Software-enabled revenue growth
• Lending related and other fees increased 7% compared to 3Q23, driven by stronger client demand

Other fee revenue increased $81 million compared to 3Q23 and increased $77 million compared to 2Q24, primarily reflecting a $66 million gain on sale of an equity investment.

6

Net interest income increased 16% compared to 3Q23, largely due to higher investment securities yields and loan growth, partially offset by deposit mix shift. Compared to 2Q24, NII decreased 2%, primarily driven by deposit mix shift and lower market rates, partially offset by higher investment securities yields.

Other Income was a loss of $80 million, mainly reflecting the loss on sale related to the repositioning of the investment portfolio.

Total revenues were positively impacted by currency translation of $6 million and $17 million compared to 3Q23 and 2Q24, respectively.

PROVISION FOR CREDIT LOSSES

(Dollars in millions)		3Q24		2Q24		3Q23	% QoQ	% YoY
Allowance for credit losses:
Beginning balance	$	145	$	146	$	136	(0.7)%	6.6 %
Provision for credit losses		26		10		-	nm	nm
Charge-offs		-		(11)		(2)	nm	nm
Ending Balance	$	171	$	145	$	134	17.9 %	27.6 %

Total provision for credit losses was $26 million in 3Q24, primarily reflecting an increase in loan loss reserves associated with certain commercial real estate and leveraged loans, combined with a change in macroeconomic factors.

EXPENSES

(Dollars in millions)		3Q24		2Q24		3Q23	% QoQ	% YoY
Compensation and employee benefits	$	1,134	$	1,099	$	1,082	3.2 %	4.8 %
Information systems and communications		463		454		411	2.0	12.7
Transaction processing services		255		250		241	2.0	5.8
Occupancy		105		106		101	(0.9)	4.0
Amortization of other intangible assets		56		60		60	(6.7)	(6.7)
Other		295		300		285	(1.7)	3.5
Total Expenses	$	2,308	$	2,269	$	2,180	1.7 %	5.9 %
Effective tax rate		21.1 %		22.1 %		17.4 %	(1.0)% pts	3.7 % pts

Compensation and employee benefits increased 5% compared to 3Q23, mainly due to higher performance-based incentive compensation and employee benefits, partially offset by ongoing organizational process improvements and initiatives as well as net benefits from the joint venture consolidations in India, which collectively resulted in a 4% reduction in year-over-year headcount (pro- forma for joint venture associated headcount).(a) Compared to 2Q24, Compensation and employee benefits increased 3%, largely driven by higher salaries, performance-based incentive compensation and employee benefits.

Information systems and communications increased 13% compared to 3Q23 and increased 2% compared to 2Q24, largely from higher technology and infrastructure investments.

Transaction processing services increased 6% compared to 3Q23, primarily reflecting higher revenue- related costs associated with sub-custody, broker fees and market data. Transaction processing services increased 2% compared to 2Q24, mainly driven by revenue-relatedsub-custody costs.

1. Pro-formaheadcount reflects estimated total headcount for 3Q23 as if the headcount of the India joint ventures that were consolidated in 4Q23 and 2Q24 had been included in the prior period and is based on headcount in each joint venture at the end of the period.

7

Occupancy increased 4% compared to 3Q23, primarily driven by footprint expansion related to the joint venture consolidations in India, partially offset by footprint optimization and one-time vendor credits. Compared to 2Q24, Occupancy decreased 1%, mainly due to one-time vendor credits, partially offset by footprint expansion related to the joint venture consolidations in India.

Other expenses increased 4% compared to 3Q23, primarily due to higher professional services and travel costs. Compared to 2Q24, Other expenses decreased 2%, primarily reflecting lower professional services.

Total expenses were negatively impacted by currency translation of $9 million and $14 million compared to 3Q23 and 2Q24, respectively.

TAXES

The effective tax rate of 21.1% in 3Q24 increased from 17.4% in 3Q23, primarily due to the impact of the investment portfolio repositioning in 3Q23. Compared to 2Q24, the effective tax rate decreased from 22.1%, primarily due to higher discrete tax benefits this quarter.

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CAPITAL AND LIQUIDITY

The following table presents preliminary estimates of regulatory capital and liquidity ratios for State Street Corporation.

(As of period end)	3Q24	2Q24	3Q23
Basel III Standardized Approach:
Common equity tier 1 ratio (CET1)	11.6 %	11.2 %	11.0 %
Tier 1 capital ratio	13.9	13.3	12.7
Total capital ratio	15.6	15.0	14.0
Basel III Advanced Approaches:
Common equity tier 1 ratio (CET1)	12.5	12.0	12.2
Tier 1 capital ratio	15.0	14.2	14.0
Total capital ratio	16.6	15.9	15.3
Tier 1 leverage ratio	5.5	5.3	5.8
Supplementary leverage ratio	6.4	6.3	6.3
Liquidity coverage ratio (LCR) (1)	107 %	106 %	109 %
LCR - State Street Bank and Trust (1)	129 %	134 %	120 %

1. See the "In This News Release" section for further details on LCR and the calculation between State Street Corporation and State Street Bank and Trust.

Standardized capital ratios were binding for all periods included above.

CET1 (Standardized) ratio at quarter-end of 11.6% increased 0.6% points compared to 3Q23, and increased 0.4% points compared to 2Q24, both primarily due to capital generated from earnings and improved AOCI, partially offset by continued capital return and higher RWA.

Tier 1 leverage ratio at quarter-end of 5.5% decreased 0.3% points compared to 3Q23, reflecting higher average balance sheet levels, partially offset by capital generated from earnings and higher preferred equity. Tier 1 leverage ratio increased 0.2% points compared to 2Q24, mainly driven by capital generated from earnings and higher preferred equity, partially offset by higher average balance sheet levels.

LCR for State Street Corporation was approximately 107%, down 2% points compared to 3Q23, and up 1% point from 2Q24. LCR for State Street Bank and Trust was approximately 129%, up 9% points compared to 3Q23 and down 5% points from 2Q24.

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INVESTOR CONFERENCE CALL AND QUARTERLY WEBSITE DISCLOSURE

State Street will webcast an investor conference call today, Tuesday, October 15, 2024, at 12:00 p.m. ET, available at http://investors.statestreet.com. The conference call will also be available via telephone, at [phone]. The Conference ID# is 26547.

Recorded replay of the conference call will be available on the website and by telephone at [phone] beginning approximately two hours after the call's completion. The Conference ID# is 26547 and the Playback Passcode is 26547#. The telephone replay will be available for approximately one month following the conference call.

This News Release, presentation materials referred to on the conference call, and additional financial information are available on State Street's website, at http://investors.statestreet.com under "Investor News & Events" and under the title "Events & Presentations".

State Street intends to publish updates to its public disclosure regarding regulatory capital, as required by the Basel III final rule, and the liquidity coverage and net stable funding ratios, on a quarterly basis on its website at http://investors.statestreet.com, under "Filings & Reports". Those updates will be published each quarter, during the period beginning after State Street's public announcement of its quarterly results of operations and ending on or prior to the due date under applicable bank regulatory requirements (i.e., ordinarily, ending no later than 60 days following year-end or 40 to 45 days following each other quarter-end, as applicable). For 3Q24, State Street expects to publish its updates during the period beginning today and ending on or about November 9, 2024 and on or about November 14, 2024 for the liquidity coverage ratio.

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 $46.8 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

• Assets under management as of September 30, 2024 includes approximately $83 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.

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