[February 12, 2020]

State Street Corporation Announces Additional Capital Action with Full Redemption of Non-Cumulative Perpetual Preferred Stock Series "C" and Declares Quarterly Dividend on its Series C Preferred Stock

State Street Corporation (NYSE:STT) today announced that it will redeem all of its outstanding shares of non-cumulative perpetual preferred stock Series C (represented by depositary shares, each representing a 1/4000th interest in a share of Series C preferred stock) (the "Redemption") for cash at a redemption price (the "Redemption Price") of $100,000 per share (equivalent to $25.00 per depositary share) plus all declared and unpaid dividends. The Redemption Price will be payable on March 16, 2020.

State Street also announced today that a quarterly cash dividend in the amount of $1,312.50 per share of Series C preferred stock (resulting in a distribution of approximately $0.3281 per depositary share) has been declared and will be paid separately on March 16, 2020 to the holders of record of the Series C preferred stock at the close of business on March 2, 2020, in the customary manner. Accordingly, there will not be any declared and unpaid dividends included in the Redemption Price.

Following the Redemption, no shares of Series C prefered stock will be deemed outstanding and the only remaining rights of holders of the Series C preferred stock will be to receive payment of the Redemption Price. There are currently 5,000 shares of Series C preferred stock outstanding, represented by 20,000,000 depositary shares.

The Redemption is in addition to State Street's original capital plan, submitted as part of the 2019 Comprehensive Capital Analysis and Review (CCAR) cycle and previously announced on June 27, 2019, and has received approval from the Federal Reserve.

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 $34.36 trillion in assets under custody and/or administration and $3.12 trillion* in assets under management as of December 31, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

^{*Assets under management as of December 31, 2019 includes approximately $45 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.}

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