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.3

Consolidated Balance Sheets
(dollars in millions)
									12/31/2025			9/30/2025			12/31/2024
Assets
			Loans						$	106,541		$	105,902		$	104,260
			Loans held for sale						1,077			998			797
			Securities available for sale						39,596			40,456			37,707
			Held-to-maturity securities						8,622			7,509			7,395
			Trading account assets						1,061			972			1,283
			Short-term investments						10,163			13,334			17,504
			Other investments						949			921			1,041
						Total earning assets			168,009			170,092			169,987
			Allowance for loan and lease losses						(1,427)			(1,444)			(1,409)
			Cash and due from banks						1,287			1,938			1,743
			Premises and equipment						628			606			614
			Goodwill						2,752			2,752			2,752
			Other intangible assets						8			13			27
			Corporate-owned life insurance						4,432			4,428			4,394
			Accrued income and other assets						8,481			8,803			8,797
			Discontinued assets						211			221			263
						Total assets			$	184,381		$	187,409		$	187,168
Liabilities
			Deposits in domestic offices:
						Interest-bearing deposits			121,100			122,425			120,132
						Noninterest-bearing deposits			27,613			28,340			29,628
						Total deposits			148,713			150,765			149,760
			Federal funds purchased and securities sold under repurchase agreements						13			10			14
			Bank notes and other short-term borrowings						1,071			1,339			2,130
			Accrued expense and other liabilities						4,286			4,276			4,983
			Long-term debt						9,917			10,917			12,105
						Total liabilities			164,000			167,307			168,992
Equity
			Preferred stock						2,500			2,500			2,500
			Common shares						1,257			1,257			1,257
			Capital surplus						6,035			6,002			6,038
			Retained earnings						15,359			15,111			14,584
			Treasury stock, at cost						(2,810)			(2,619)			(2,733)
			Accumulated other comprehensive income (loss)						(1,960)			(2,149)			(3,470)
						Total equity			20,381			20,102			18,176
Total liabilities and equity									$	184,381		$	187,409		$	187,168
Common shares outstanding (000)									1,102,401			1,112,952			1,106,786

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Consolidated Statements of Income
(dollars in millions, except per share amounts)
									Three months ended												Twelve months ended
									12/31/2025			9/30/2025			12/31/2024						12/31/2025			12/31/2024
Interest income
			Loans						$	1,439		$	1,466		$	1,448					$	5,749		$	6,026
			Loans held for sale						18			18			20						61			60
			Securities available for sale						388			408			353						1,599			1,142
			Held-to-maturity securities						76			64			66						264			284
			Trading account assets						12			11			16						56			61
			Short-term investments						137			156			214						624			792
			Other investments						8			8			15						33			62
						Total interest income			2,078			2,131			2,132						8,386			8,427
Interest expense
			Deposits						688			748			821						2,919			3,307
			Federal funds purchased and securities sold under repurchase agreements						4			4			1						13			4
			Bank notes and other short-term borrowings						9			14			24						84			164
			Long-term debt						162			181			235						734			1,187
						Total interest expense			863			947			1,081						3,750			4,662
Net interest income									1,215			1,184			1,051						4,636			3,765
Provision for credit losses									108			107			39						471			335
Net interest income after provision for credit losses									1,107			1,077			1,012						4,165			3,430
Noninterest income
			Trust and investment services income						156			150			142						591			557
			Investment banking and debt placement fees						243			184			221						780			688
			Service charges on deposit accounts						78			75			65						295			261
			Operating lease income and other leasing gains						9			11			15						43			76
			Corporate services income						81			72			69						294			275
			Cards and payments income						84			86			85						337			331
			Corporate-owned life insurance income						40			35			36						140			138
			Consumer mortgage income						16			14			16						58			58
			Commercial mortgage servicing fees						68			73			68						287			258
			Other income						7			8			(5)						23			23
			Net securities gains (losses)						—			(6)			(908)						(6)			(1,856)
						Total noninterest income			782			702			(196)						2,842			809
Noninterest expense
			Personnel						790			742			734						2,917			2,714
			Net occupancy						69			65			67						270			266
			Computer processing						106			105			107						425			414
			Business services and professional fees						61			44			55						193			174
			Equipment						22			20			20						83			80
			Operating lease expense						8			9			15						38			63
			Marketing						28			22			33						95			94
			Intangible asset amortization						—			—			—						—			—
			Other expense						157			170			198						682			740
						Total noninterest expense			1,241			1,177			1,229						4,703			4,545
Income (loss) from continuing operations before income taxes									648			602			(413)						2,304			(306)
			Income taxes						139			112			(169)						476			(143)
Income (loss) from continuing operations									509			490			(244)						1,828			(163)
			Income (loss) from discontinued operations, net of taxes						1			(1)			—						1			2
Net income (loss)									510			489			(244)						1,829			(161)
			Less: Net income (loss) attributable to noncontrolling interests						—			—			—						—			—
Net income (loss) attributable to Key									$	510		$	489		$	(244)					$	1,829		$	(161)
Income (loss) from continuing operations attributable to Key common shareholders									$	474		$	454		$	(279)					$	1,685		$	(306)
Net income (loss) attributable to Key common shareholders									475			453			(279)						1,686			(304)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders									$	.43		$	.41		$	(.28)					$	1.53		$	(.32)
Income (loss) from discontinued operations, net of taxes									—			—			—						—			—
Net income (loss) attributable to Key common shareholders (a)									.43			.41			(.28)						1.53			(.32)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders									$	.43		$	.41		$	(.28)					$	1.52		$	(.32)
Income (loss) from discontinued operations, net of taxes									—			—			—						—			—
Net income (loss) attributable to Key common shareholders (a)									.43			.41			$	(.28)					1.52			(.32)
Cash dividends declared per common share									$	.205		$	.205		$	.205					$	.82		$	.82
Weighted-average common shares outstanding (000)									1,095,171			1,100,830			986,829						1,098,558			949,561
			Effect of common share options and other stock awards (b)						11,152			9,845			—						9,436			—
Weighted-average common shares and potential common shares outstanding (000) (c)									1,106,323			1,110,675			986,829						1,107,994			949,561

(a)Earnings per share may not foot due to rounding.

(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share.

(c)Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable.