KEYCORP NEW

Our actions and results during the first quarter of 2024 support our corporate strategy described in the “Introduction” section under the “Corporate strategy” heading on page 50 of our 2023 Form 10-K.

•Our relationship-based business model and our long-term strategic commitment to primacy, that is, serving as our client's primary bank, continues to serve us well, highlighted by 6% year-over-year commercial client growth and 2.5% year-over-year net new relationship household growth.

•Our recent launch of Key Private Client helps us to penetrate a large, growing mass affluent segment within our consumer base and with our commercial business owners. Overall, our Assets Under Management have now surpassed $57 billion.

•We announced a strategic partnership that will help us accelerate growth in our commercial platform, another example of how we are delivering best-in-class execution services for our clients, while concurrently managing risk.

•Our continuous focus on maintaining our risk discipline has and will continue to position us to perform well through all business cycles. Net charge-offs and delinquencies remain low by historical standards.

•We ended the quarter with a Common Equity Tier 1 ratio of 10.3%(a), up approximately 120 basis points from a year ago, representing our fastest rate of organic capital build over a 12-month period since the industry began tracking this metric.

Current year expectations - full year 2024 vs. full year 2023

(a)March 31, 2024 capital ratios are estimates

(b)Additional Guidance: End of period loans: relatively stable vs. year-end 2023 balances; Net interest income (TE): Up low-single digits vs. 4Q23 annualized exit rate, 10%+ 4Q24 vs. 4Q23.

(c)Relatively stable: +/- 2%

(d) Noninterest expense guidance excludes the FDIC special assessment of $190 million, efficiency related expenses of $131 million, and a pension settlement charge of $18 million recorded in 2023. The noninterest expense guidance excludes the FDIC special assessment of $29 million in 2024.