STATE STREET CORPSTT

State Street plans to launch a core agentic platform as part of enterprise-wide AI adoption to improve efficiency.

“17 Transformation accelerating execution of product platform operating model Improving client experience, funding strategic investments, and driving durable margin expansion Our Transformation pillars and intended future state 1. Operating model transformation Migration to a product / platform structure with business leader ownership of end-to-end client delivery • Cross-functional agile teams integrating technology, business, and operations resources enabled by AI tools • Significant reduction in product development release cycle times • Improved client experience and service quality across the franchise 2. Technology simplification & modernization Simplified, cloud-based infrastructure with a strong data foundation reducing complexity, lowering unit costs, and strengthening resiliency and security • ~80% of applications running on modern cloud platforms from ~40% today • Rationalize data center infrastructure; reduction in data centers and data domain footprint • Lower mix of run-the-bank costs, with a higher share of spend directed to growth and innovation 3. Enterprise-wide AI adoption AI scaled responsibly to expand capacity, improve execution, and deliver better client outcomes, stronger controls, improved efficiency and an enhanced employee experience • Launch core agentic platform with best-of-breed AI tools and capabilities • Equip development teams with modern AI tools driving ~30-40% increase in developer productivity • Acceleration in legacy code modernization • E”

State Street notes risks that new technologies or solutions may supersede its products after investment.

“to us. The transition to new operating processes and cybersecurity or technology infrastructure may also cause disruptions in our relationships with clients and employees or loss of institutional understanding and may present other unanticipated technical or operational hurdles. In addition, the relocation to or expansion of servicing activities and other operations in different geographic regions or vendors may entail client, regulatory and other third party data use, storage and security challenges, as well as other regulatory compliance, business continuity and other considerations. All of these programs involve the risks of delay cost over-runs, and legacy systems may present vulnerabilities during transition periods, increasing exposure to outages, security incidents or other operational errors. As a result of the above, we may not achieve some or all of the anticipated cost savings, process improvements, compliance or other benefits and may experience unanticipated challenges from clients, regulators or other parties or reputational harm. Further, some new products and services may quickly be superseded in the marketplace, after significant investment by us, by more effective innovative technologies or solutions to which we may not have access. In addition, some systems development initiatives may not have access to significant resources or management attention and, consequently, may be delayed or unsuccessful. Many of our systems require enhancements to meet the requir”