KEYCORP /NEW/

Key reported $370 million in net income from continuing operations attributable to Key common shareholders or diluted earnings per share of $0.33 in the first quarter of 2025.

Our actions and results during the first quarter of 2025 support our long-term targets and corporate strategy described in the “Introduction” section under the “Corporate strategy” heading on page 50 of our 2024 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 a 4% year-over-year increase in client deposits and 2% net new relationship household growth.

•Our Assets Under Management stand at $61.1 billion, as new Key Private Client enrollments continued to provide additional assets to our platform for the first quarter of 2025.

•Our continuous focus on maintaining our risk discipline has and should continue to position us to perform well through all business cycles. Net charge-offs remain at the low-end of our long-term target range of 40 to 60 basis points and nonperforming loans are down 9% quarter-over-quarter.

•Investment banking and debt placement fees had a record first quarter driven by syndication and debt capital markets activity.

•During the first quarter we announced a $1 billion dollar share repurchase authorization from our Board of Directors, under which we currently expect to commence purchases in the second half of the year. The pace and magnitude of share buybacks will depend on a variety of factors, including general market conditions, the stock price, regulatory requirements and limitations, corporate liquidity requirements and priorities, and other factors.

•We ended the quarter with a Common Equity Tier 1 ratio of 11.8%(a), up approximately 150 basis points year over year, which positions us to continue to support existing and prospective clients.

(a)March 31, 2025 capital ratios are estimates