KEYCORP NEW

Our actions and results during the second 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 a 5% year-over-year increase in client deposits and consumer relationship households up 3.3% annualized year-to-date.

•Since the launch of Key Private Client last year, serving mass affluent prospects, we have added over 31 thousand households and approximately $2.9 billion of new household assets. In the second quarter alone, we added over five thousand households and over $600 million in assets to the platform. Overall, our Assets Under Management have now reached $57.6 billion.

•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 below our long-term target.

•We ended the quarter with a Common Equity Tier 1 ratio of 10.5%(a), up approximately 20 basis points from last quarter and over 120 basis points from a year ago, reflecting the work we have done to improve balance sheet resiliency to changes in interest rates, up or down.

(a)June 30, 2024 capital ratios are estimates

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

(b)Additional Guidance: End of period loans: down 4 - 5% 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 $34 million in 2024.