5 Updated presentation of consolidated results of operations A A Effective 1Q22, State Street will reclassify certain fee revenue in its Consolidated Statement of Operations, primarily moving revenues that are not directly associated with Software and processing fees to a new Other fee revenue line item. In addition, our materials presented in conjunction with our quarterly earnings release will provide a disaggregation of Servicing fees into Back office servicing fees and Middle office services and of Software and processing fees into Front office software and data and Lending related and other fees. Prior periods will be revised to reflect these changes. See endnote 5 for additional information. B Front office software and data fee revenue is presented on a consolidated basis. Revenue associated with affiliates, including SSGA, was $24M and $36M in 2020 and 2021, respectively, which is eliminated in consolidation for financial reporting purposes. Including the revenue from affiliates, Front office software and data fee revenue was $470M and $520M in 2020 and 2021, respectively, reflecting an increase of 10.6% on a year-on-year basis. (Dollars in millions) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 2020 2021 Fee revenue: Back office servicing fees $ 1,188 $ 1,172 $ 1,191 $ 1,207 $ 1,266 $ 1,290 $ 1,289 $ 1,272 5.4 % (1.3)% $ 4,758 $ 5,117 7.5 % Middle office services 95 98 107 99 103 104 102 105 6.1 2.9 399 414 3.8 Servicing fees 1,283 1,270 1,298 1,306 1,369 1,394 1,391 1,377 5.4 (1.0) 5,157 5,531 7.3 Management fees 464 444 479 493 493 504 526 530 7.5 0.8 1,880 2,053 9.2 Foreign exchange trading services 444 325 270 324 346 286 279 300 (7.4) 7.5 1,363 1,211 (11.2) Securities finance 92 92 84 88 99 109 106 102 15.9 (3.8) 356 416 16.9 Front office software and data B 98 140 97 111 96 148 116 124 11.7 6.0 446 484 8.5 Lending related and other fees 53 60 63 63 64 63 64 63 - (1.6) 239 254 6.3 Software and processing fees 151 200 160 174 160 211 180 187 7.5 3.9 685 738 7.7 Other fee revenue (35) 47 15 31 16 10 22 15 (51.6) (31.8) 58 63 8.6 Total fee revenue 2,399 2,378 2,306 2,416 2,483 2,514 2,504 2,511 3.9 0.3 9,499 10,012 5.4 Net interest income: Interest income 868 674 520 513 471 467 487 483 (5.8) (0.8) 2,575 1,908 (25.9) Interest expense 204 115 42 14 4 - - (1) nm nm 375 3 nm Net interest income 664 559 478 499 467 467 487 484 (3.0) (0.6) 2,200 1,905 (13.4) Other income: Gains (losses) on investment securities, net 2 - - 2 - - (1) 58 nm nm 4 57 nm Other income - - - - - 53 - - nm nm - 53 nm Total other income 2 - - 2 - 53 (1) 58 nm nm 4 110 nm Total revenue 3,065 2,937 2,784 2,917 2,950 3,034 2,990 3,053 4.7 2.1 11,703 12,027 2.8 Provision for credit losses 36 52 - - (9) (15) (2) (7) nm nm 88 (33) nm Expenses: Compensation and employee benefits 1,208 1,051 1,062 1,129 1,242 1,077 1,054 1,181 4.6 12.0 4,450 4,554 2.3 Information systems and communications 385 376 395 394 421 398 406 436 10.7 7.4 1,550 1,661 7.2 Transaction processing services 254 233 234 257 270 263 253 238 (7.4) (5.9) 978 1,024 4.7 Occupancy 109 109 109 162 109 100 102 133 (17.9) 30.4 489 444 (9.2) Acquisition and restructuring costs 11 12 15 12 10 11 18 26 116.7 44.4 50 65 30.0 Amortization of other intangible assets 58 58 59 59 58 63 62 62 5.1 - 234 245 4.7 Other 230 243 229 263 222 199 221 254 (3.4) 14.9 965 896 (7.2) Total expenses 2,255 2,082 2,103 2,276 2,332 2,111 2,116 2,330 2.4 10.1 8,716 8,889 2.0 Income before income tax expense 774 803 681 641 627 938 876 730 13.9 (16.7) 2,899 3,171 9.4 Income tax expense 140 109 126 104 108 175 162 33 (68.3) (79.6) 479 478 (0.2) Net income $ 634 $ 694 $ 555 $ 537 $ 519 $ 763 $ 714 $ 697 29.8 (2.4) $ 2,420 $ 2,693 11.3 Full Year % Change FY2021 vs. FY2020 Quarters 4Q21 vs. 3Q21 % Change 4Q21 vs. 4Q20