🟢 New in Current Filing We assume significant credit risk of counterparties, many of which are major financial institutions. These financial institutions and other counterparties may also have substantial financial dependencies with other financial institutions and sovereign entities. These credit exposures and concentrations could expose us to financial loss. 🔒

🟢 New in Current Filing Fee revenue represents a significant majority of our consolidated revenue and is subject to decline, among other things, in the event of a reduction in, or changes to, the level or type of investment activity by our clients. 🔒

🟢 New in Current Filing Our return of capital to shareholders through common share repurchases and common stock dividends may be variable and is subject to various business and financial factors and regulatory requirements and approvals of our Board of Directors. 🔒

🟢 New in Current Filing Our reputation and business prospects may be damaged if investors in the collective investment pools we sponsor or manage incur substantial losses in these investment pools or are restricted in redeeming their interests in these investment pools. 🔒

🔴 No Match in Current Filing Risk Factors 🔒

🔴 No Match in Current Filing We are subject to intense competition in all aspects of our business, which could negatively affect our ability to maintain or increase our profitability. 🔒

🔴 No Match in Current Filing result in risks to our business and other uncertainties. 🔒

🔴 No Match in Current Filing We have significant global operations, and clients, that can be adversely impacted by disruptions in key economies, including local, regional and geopolitical developments affecting those economies. 🔒

🔴 No Match in Current Filing Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets, governmental action or monetary policy. For example, among other risks, changes in prevailing interest rates or other market conditions have led, and were they to occur in the future could further lead, to decreases in our NII or to portfolio management decisions resulting in reductions in our capital or liquidity ratios. 🔒

🔴 No Match in Current Filing We have significant global operations, and clients, that can be adversely impacted by disruptions in key economies, including local, regional and geopolitical developments affecting those economies. 🔒

🔴 No Match in Current Filing Our business activities expose us to interest rate risk. 🔒

🔴 No Match in Current Filing Fee revenue represents a significant majority of our consolidated revenue and is subject to decline, among other things, in the event of a reduction in, or changes to, the level or type of investment activity by our clients. 🔒

🔴 No Match in Current Filing Outsourcing of work to global hub locations may expose us to increased operational risk and reputational harm and may not result in expected cost savings. 🔒

🔴 No Match in Current Filing We may incur losses arising from our investments in sponsored investment funds, which could be material to our consolidated results of operations in the periods incurred. 🔒

🔴 No Match in Current Filing Disclosure requirements and expectations related to sustainability or ESG are increasing, evolving and may diverge across jurisdictions. Our inability to meet these requirements and expectations or to provide related information to clients facing similar requirements could cause regulatory or reputational harm and affect our ability to attract and retain clients. 🔒

🟡 Modified Our business activities expose us to interest rate risk. 🔒

🟡 Modified Our businesses may be adversely affected by increased and conflicting political and regulatory scrutiny of asset management, stewardship and sustainable investment strategies and services offered in the jurisdictions in which we operate. 🔒

🟡 Modified Any downgrades in our credit ratings, or an actual or perceived reduction in our financial strength, could adversely affect our borrowing costs, capital costs and liquidity position and cause reputational harm. 🔒

🟡 Modified We are subject to variability in our assets under custody and/or administration and assets under 🔒

🟡 Modified We may not be able to protect our intellectual property, and we are subject to claims of third-party intellectual property rights. 🔒

🟡 Modified The integration and the retention and development of the benefits of our acquisitions result in risks to our business and other uncertainties. 🔒

🟡 Modified Political, geopolitical and economic conditions and developments could adversely affect us, particularly if we face increased uncertainty and unpredictability in managing our businesses. 🔒

🟡 Modified We are subject to intense competition in all aspects of our business, which could negatively affect our ability to maintain or increase our profitability. 🔒

🟡 Modified We may need to raise additional capital or debt in the future, which may not be available to us or may only be available on unfavorable terms. 🔒

🟡 Modified Our businesses may be adversely affected by increased and conflicting political and regulatory scrutiny of asset management, stewardship and sustainable investment strategies and services offered in the jurisdictions in which we operate. 🔒

🟡 Modified Our calculations of credit, market and operational risk exposures, total RWA and capital ratios for regulatory purposes depend on data inputs, formulae, models, correlations and assumptions that are subject to change over time, which changes, in addition to our consolidated financial results, could materially impact our risk exposures, our total RWA and our capital ratios from period to period. 🔒

🟡 Modified Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets, governmental action or monetary policy. For example, among other risks, changes in prevailing interest rates or other market conditions have led, and were they to occur in the future could further lead, to decreases in our NII or to portfolio management decisions resulting in reductions in our capital or liquidity ratios. 🔒

🟡 Modified Development and completion of new products and services, including State Street Alpha and those related to wealth servicing, alternative investment management or digital assets or incorporating artificial intelligence, may impose costs on us, involve dependencies on third parties and may expose us to increased risks. 🔒

🟡 Modified The quantitative models we use to manage our business may contain errors that result in inadequate risk assessments, inaccurate valuations or poor business and risk management decisions, and lapses in disclosure controls and procedures or internal control over financial reporting could occur, any of which could result in material harm. 🔒

🟡 Modified If we are unable to effectively manage our capital and liquidity, including by continuously attracting deposits and other short-term funding, our consolidated financial condition, including our regulatory capital ratios, our consolidated results of operations and our business prospects, could be adversely affected. 🔒

🟡 Modified Our business may be negatively affected by risks associated with strategic initiatives we are employing to enhance the effectiveness and efficiency of our operations and of our cybersecurity and technology infrastructure. 🔒

🟡 Modified We could face liabilities for withholding and other non-income taxes as a result of tax authority examinations. 🔒

🟡 Modified Our business may be negatively affected by risks associated with strategic initiatives we are employing to enhance the effectiveness and efficiency of our operations and of our cybersecurity and technology infrastructure. 🔒

🟡 Modified Development and completion of new products and services, including State Street Alpha and those related to wealth servicing, alternative investment management or digital assets or incorporating artificial intelligence, may impose costs on us, involve dependencies on third parties and may expose us to increased risks. 🔒

🟡 Modified Acquisitions, strategic alliances, joint ventures and divestitures pose risks for our business. 🔒

🟡 Modified Competition for qualified members of our workforce is intense, and we may not be able to attract and retain the personnel we need to support our business. 🔒

🟡 Modified Climate change may increase the frequency and severity of major weather events, and measures to transition to a low carbon economy may drive regulatory and business model change that could adversely affect our business operations and resiliency, our clients, our counterparties or other financial market participants and could adversely affect our consolidated results of operations and financial condition. 🔒

🟡 Modified Our calculations of credit, market and operational risk exposures, total RWA and capital ratios for regulatory purposes depend on data inputs, formulae, models, correlations and assumptions that are subject to change over time, which changes, in addition to our consolidated financial results, could materially impact our risk exposures, our total RWA and our capital ratios from period to period. 🔒

🟡 Modified Outsourcing of work to global hub locations may expose us to increased operational risk and reputational harm and may not result in expected cost savings. 🔒

🟡 Modified We may incur losses arising from our investments in sponsored investment funds, which could be material to our consolidated results of operations in the periods incurred. 🔒

🟡 Modified Climate change may increase the frequency and severity of major weather events, and measures to transition to a low carbon economy may drive regulatory and business model change that could adversely affect our business operations and resiliency, our clients, our counterparties or other financial market participants and could adversely affect our consolidated results of operations and financial condition. 🔒

🟡 Modified Long-term contracts expose us to increased operational risk, pricing and performance risk. 🔒

🟡 Modified If we are unable to effectively manage our capital and liquidity, including by continuously attracting deposits and other short-term funding, our consolidated financial condition, including our regulatory capital ratios, our consolidated results of operations and our business prospects, could be adversely affected. 🔒

🟡 Modified Competition for qualified members of our workforce is intense, and we may not be able to attract and retain the personnel we need to support our business. 🔒

🟡 Modified We may incur losses or face negative impacts on our business and operations as a result of unforeseen events, including terrorist attacks, geopolitical events, acute or chronic physical risk events, natural disasters, pandemics, global conflicts or a banking crisis which may have a negative impact on our business and operations. 🔒

🟡 Modified Acquisitions, strategic alliances, joint ventures and divestitures pose risks for our business. 🔒

🟡 Modified Outsourcing of work to global hub locations may expose us to increased operational risk and reputational harm and may not result in expected cost savings. 🔒

🟡 Modified Our businesses may be adversely affected by increased and conflicting political and regulatory scrutiny of asset management, stewardship and sustainable investment strategies and services offered in the jurisdictions in which we operate. 🔒

🟡 Modified The integration and the retention and development of the benefits of our acquisitions result in risks to our business and other uncertainties. 🔒

🟡 Modified Any downgrades in our credit ratings, or an actual or perceived reduction in our financial strength, could adversely affect our borrowing costs, capital costs and liquidity position and cause reputational harm. 🔒

🟡 Modified We may incur losses arising from our investments in sponsored investment funds, which could be material to our consolidated results of operations in the periods incurred. 🔒

🟡 Modified Our risk management framework, models and processes may not be effective in identifying or mitigating risk and reducing the potential for related losses, and a failure or circumvention of our controls and procedures, or errors or delays in our operational and transaction processing, or those of third parties, could have an adverse effect on our business, financial condition, operating results and reputation. 🔒

🟡 Modified We are subject to variability in our assets under custody and/or administration and assets under 🔒

🟡 Modified Our risk management framework, models and processes may not be effective in identifying or mitigating risk and reducing the potential for related losses, and a failure or circumvention of our controls and procedures, or errors or delays in our operational and transaction processing, or those of third parties, could have an adverse effect on our business, financial condition, operating results and reputation. 🔒

🟡 Modified Our reputation and business prospects may be damaged if investors in the collective investment pools we sponsor or manage incur substantial losses in these investment pools or are restricted in redeeming their interests in these investment pools. 🔒

🟡 Modified Long-term contracts expose us to increased operational risk, pricing and performance risk. 🔒

🟡 Modified Development and completion of new products and services, including State Street Alpha and those related to wealth servicing, alternative investment management or digital assets or incorporating artificial intelligence, may impose costs on us, involve dependencies on third parties and may expose us to increased risks. 🔒

🟡 Modified We may incur losses or face negative impacts on our business and operations as a result of unforeseen events, including terrorist attacks, geopolitical events, acute or chronic physical risk events, natural disasters, pandemics, global conflicts or a banking crisis which may have a negative impact on our business and operations. 🔒

🟡 Modified We may not be able to protect our intellectual property, and we are subject to claims of third-party intellectual property rights. 🔒

🟡 Modified We assume significant credit risk of counterparties, many of which are major financial institutions. These financial institutions and other counterparties may also have substantial financial dependencies with other financial institutions and sovereign entities. These credit exposures and concentrations could expose us to financial loss. 🔒

🟡 Modified management, and in our financial results, due to the significant size of our relationship with many of our institutional clients, and are also subject to significant pricing pressure due to trends in the market for custodial services and the considerable market influence exerted by those clients. 🔒

🟡 Modified Our calculations of credit, market and operational risk exposures, total RWA and capital ratios for regulatory purposes depend on data inputs, formulae, models, correlations and assumptions that are subject to change over time, which changes, in addition to our consolidated financial results, could materially impact our risk exposures, our total RWA and our capital ratios from period to period. 🔒

🟡 Modified We may incur losses arising from our investments in sponsored investment funds, which could be material to our consolidated results of operations in the periods incurred. 🔒

🟡 Modified The quantitative models we use to manage our business may contain errors that result in inadequate risk assessments, inaccurate valuations or poor business and risk management decisions, and lapses in disclosure controls and procedures or internal control over financial reporting could occur, any of which could result in material harm. 🔒

🟡 Modified management, and in our financial results, due to the significant size of our relationship with many of our institutional clients, and are also subject to significant pricing pressure due to trends in the market for custodial services and the considerable market influence exerted by those clients. 🔒

🟡 Modified We may need to raise additional capital or debt in the future, which may not be available to us or may only be available on unfavorable terms. 🔒

🟡 Modified Climate change may increase the frequency and severity of major weather events, and measures to transition to a low carbon economy may drive regulatory and business model change that could adversely affect our business operations and resiliency, our clients, our counterparties or other financial market participants and could adversely affect our consolidated results of operations and financial condition. 🔒

🟡 Modified Fee revenue represents a significant majority of our consolidated revenue and is subject to decline, among other things, in the event of a reduction in, or changes to, the level or type of investment activity by our clients. 🔒

🟡 Modified We may need to raise additional capital or debt in the future, which may not be available to us or may only be available on unfavorable terms. 🔒

🟡 Modified We face extensive and changing government regulation and supervision in the U.S. and non-U.S. jurisdictions in which we operate, which may increase our costs and expose us to risks related to compliance. 🔒

🟡 Modified Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets, governmental action or monetary policy. For example, among other risks, changes in prevailing interest rates or other market conditions have led, and were they to occur in the future could further lead, to decreases in our NII or to portfolio management decisions resulting in reductions in our capital or liquidity ratios. 🔒

🟡 Modified Our business and capital-related activities, including our ability to return capital to shareholders and repurchase our capital stock, may be adversely affected by our implementation of regulatory capital and liquidity standards that we must meet or as a result of regulatory capital stress testing. 🔒