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KEYCORP REPORTS SECOND QUARTER 2026 NET INCOME OF $472 MILLION,

OR $0.44 PER DILUTED COMMON SHARE INCREASING 26% YEAR-OVER-YEAR

Revenue of $1.96 billion, up 7% year-over-year

Net interest income up 9% year-over-year and 2% sequentially; net interest margin of 2.89% increased 2 bps sequentially

Period-end loans up $1.2 billion sequentially, with commercial and industrial loans up $2.1 billion or 3%

Net charge-offs of 42 bps; allowance coverage ratio declined 4 bps sequentially to 1.56%

Common Equity Tier 1 ratio of 11.2%(a); repurchased $341 million of common shares during the quarter

CLEVELAND, July 21, 2026 - KeyCorp (NYSE: KEY) announced net income from continuing operations attributable to Key common shareholders of $472 million, or $0.44 per diluted common share, for the second quarter of 2026. For the first quarter of 2026, net income from continuing operations attributable to Key common shareholders was $486 million, or $0.44 per diluted common share. For the second quarter of 2025, KeyCorp reported net income from continuing operations attributable to Key common shareholders of $387 million, or $0.35 per diluted common share.

Comments from Chairman and CEO, Chris Gorman

"Our second quarter results reflect the strength of our franchise, disciplined execution, and sustained momentum across our businesses. We delivered 7% revenue growth and generated approximately 130 basis points of operating leverage(b) on a year-over-year basis. We expanded net interest margin and grew net interest income both sequentially and year-over-year.

We continue to deepen client relationships while attracting new clients across our markets. Our priority growth businesses - investment banking, commercial payments, and wealth management - are performing exceptionally well. Investment banking pipelines grew 9% sequentially. Commercial payments continued to deliver strong, double digit fee growth year-over-year. Assets under management grew to a record $74 billion. These results reinforce the value of our relationship-driven model and the differentiated capabilities we have scaled across multiple businesses.

I remain confident in our ability to generate a return on tangible common equity exceeding 15% by year-end 2027. We remain committed to delivering attractive returns to shareholders through both the return on and the return of capital. During the quarter, we repurchased more than $340 million of common shares, reflecting our confidence in the business and our commitment to creating long-term shareholder value.

We are operating from a position of strength, supported by a resilient balance sheet, a diversified business model, and strong capital generation. While the operating environment remains dynamic, our performance in the first half of the year demonstrates the power of our strategy, the depth of our client relationships, and the agility of our teammates.

Looking ahead, we remain focused on the significant organic growth opportunities in front of us, investing in the capabilities that will further differentiate our franchise, and delivering value for all of our stakeholders."

(a) June 30, 2026 ratio is estimated.

(b) The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures. The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 2


Selected Financial Highlights

Dollars in millions, except per share data										Change 2Q26 vs.
	2Q26			1Q26			2Q25			1Q26		2Q25
Income (loss) from continuing operations attributable to Key common shareholders	$	472		$	486		$	387		(2.9)	%	22.0%

Income (loss) from continuing operations attributable to Key common shareholders per common share — assuming dilution	0.44			0.44			0.35			—		25.7

Book value at period end	16.19			16.13			15.32			0.4		5.7
Return on average tangible common equity from continuing operations (a)	12.89		%	13.02		%	11.09		%	(13) bps		180 bps

Return on average total assets from continuing operations	1.08			1.14			.91			(6)		17

Common Equity Tier 1 ratio (b)	11.2			11.4			11.7			(20)		(50)
Net interest margin (TE) from continuing operations	2.89			2.87			2.66			2		23

(a)The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures related to “tangible common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

(b)June 30, 2026 ratio is estimated.

TE = Taxable Equivalent


INCOME STATEMENT HIGHLIGHTS

Revenue

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Net interest income (TE) (a)	$	1,258	$	1,230	$	1,150	2.3	%	9.4	%
Noninterest income	706		723		690		(2.4)		2.3
Total revenue (TE)	$	1,964	$	1,953	$	1,840	0.6	%	6.7	%

(a) The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures. The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

TE = Taxable Equivalent

Taxable-equivalent net interest income was $1.26 billion for the second quarter of 2026 and the net interest margin was 2.89%. Compared to the second quarter of 2025, net interest income increased by $108 million, and the net interest margin increased by 23 basis points. These increases were driven by a reduction in deposit costs as a result of declining interest rates and proactive deposit beta management, the reinvestment of proceeds from maturing low-yielding investment securities and fixed-rate swaps into higher yielding investments, and a shift in the balance sheet composition to a more favorable mix of higher-yielding commercial and industrial loans. These benefits were partially offset by the impact of lower interest rates on repricing earning assets.

Compared to the first quarter of 2026, taxable-equivalent net interest income increased by $28 million, and the net interest margin increased by 2 basis points. These increases reflect growth in commercial and industrial loans and the reinvestment of proceeds from maturing low-yielding investment securities and fixed-rate swaps into higher-yielding investments. Additionally, net interest income benefited from one additional day in the second quarter of 2026 compared to the first quarter of 2026.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 3


Noninterest Income

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Trust and investment services income	$	159	$	157	$	146	1.3	%	8.9	%
Investment banking and debt placement fees	169		197		178		(14.2)		(5.1)
Cards and payments income	94		86		85		9.3		10.6
Service charges on deposit accounts	77		77		73		—		5.5
Corporate services income	80		71		76		12.7		5.3
Commercial mortgage servicing fees	49		62		70		(21.0)		(30.0)
Corporate-owned life insurance income	33		34		32		(2.9)		3.1
Consumer mortgage income	17		13		15		30.8		13.3
Operating lease income and other leasing gains	10		8		14		25.0		(28.6)
Other income	15		18		1		(16.7)		N/M
Net securities gains (losses)	3		—		—		N/M		N/M
Total noninterest income	$	706	$	723	$	690	(2.4)	%	2.3%

N/M = Not Meaningful

Compared to the second quarter of 2025, noninterest income increased by $16 million. The increase was driven by a $13 million increase in trust and investment services income, as well as a $14 million increase in other income. These were partially offset by a $21 million decrease in commercial mortgage servicing fees.

Compared to the first quarter of 2026, noninterest income decreased by $17 million. The decrease was driven by a $28 million decrease in investment banking and debt placement fees, and a $13 million decrease in commercial mortgage servicing fees. These were partially offset by a $9 million increase in corporate services income and an $8 million increase in cards and payments income.


Noninterest Expense

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Personnel expense	$	786	$	743	$	705	5.8	%	11.5	%
Net occupancy	68		68		69		—		(1.4)
Computer processing	108		111		107		(2.7)		0.9
Business services and professional fees	46		36		48		27.8		(4.2)
Equipment	22		19		21		15.8		4.8
Operating lease expense	7		7		10		—		(30.0)
Marketing	22		18		24		22.2		(8.3)



Other expense	158		179		170		(11.7)		(7.1)
Total noninterest expense	$	1,217	$	1,181	$	1,154	3.0	%	5.5	%

Compared to the second quarter of 2025, noninterest expense increased by $63 million. The increase was predominantly driven by an $81 million increase in personnel expense primarily related to employee benefits, incentive compensation associated with noninterest income growth, and continued investments in people.

Compared to the first quarter of 2026, noninterest expense increased by $36 million. The increase was predominantly driven by a $43 million increase in personnel expense, primarily related to incentive compensation, as well as a $10 million increase in business services and professional fees. These were partially offset by a $21 million decrease in other expense primarily related to lower charitable contributions.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 4


BALANCE SHEET HIGHLIGHTS

Average Loans

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Commercial and industrial (a)	$	62,134	$	59,149	$	55,604	5.0	%	11.7	%
Other commercial loans	18,844		18,918		18,708		(0.4)		0.7
Total consumer loans	29,094		29,670		31,403		(1.9)		(7.4)
Total loans	$	110,072	$	107,737	$	105,715	2.2	%	4.1	%

(a)Commercial and industrial average loan balances include $209 million, $205 million, and $218 million of assets from commercial credit cards at June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

Average loans were $110.1 billion for the second quarter of 2026, an increase of $4.4 billion compared to the second quarter of 2025. Average commercial loans increased by $6.7 billion, primarily driven by a $6.5 billion increase in commercial and industrial loans. Average consumer loans declined by $2.3 billion, reflective of the intentional run-off of low-yielding loans.

Compared to the first quarter of 2026, average loans increased by $2.3 billion. Average commercial loans increased $2.9 billion, primarily driven by an increase in commercial and industrial loans. Average consumer loans declined by $576 million, reflective of broad-based declines across all consumer loan categories.


Average Deposits

Dollars in millions										Change 2Q26 vs.
	2Q26			1Q26			2Q25			1Q26		2Q25
Non-time deposits	$	135,828		$	135,522		$	131,845		0.2	%	3.0	%

Time deposits	11,749			11,777			15,601			(0.2)		(24.7)
Total deposits	$	147,577		$	147,299		$	147,446		0.2	%	0.1	%

Cost of total deposits	1.63		%	1.65		%	1.99		%	(2) bps		(36) bps

Average deposits totaled $147.6 billion for the second quarter of 2026, an increase of $131 million compared to the year-ago quarter, reflecting growth in demand deposits, partially offset by a decline in time deposits.

Compared to the first quarter of 2026, average deposits increased by $278 million. The increase was driven by growth in noninterest bearing deposits, partially offset by lower demand deposits. The rate paid on interest-bearing deposits was flat sequentially, and the overall cost of deposits declined by 2 basis points to 1.63%.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 5


ASSET QUALITY

Dollars in millions										Change 2Q26 vs.
	2Q26			1Q26			2Q25			1Q26		2Q25
Net loan charge-offs	$	115		$	101		$	102		13.9	%	12.7	%
Net loan charge-offs to average total loans	0.42		%	0.38		%	0.39		%	4 bps		3 bps
Nonperforming loans at period end	$	809		$	682		$	696		18.6	%	16.2	%
Nonperforming loans to period-end portfolio loans	0.73		%	0.62		%	0.65		%	11 bps		8 bps
Nonperforming assets at period end	$	818		$	692		$	707		18.2	%	15.7	%
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets	0.74		%	0.63		%	0.66		%	11 bps		8 bps
Allowance for loan and lease losses	$	1,445		$	1,449		$	1,446		(0.3)	%	(0.1)	%
Allowance for credit losses	1,722			1,745			1,743			(1.3)	%	(1.2)	%
Allowance for credit losses to period-end loans	1.56		%	1.60		%	1.64		%	(4) bps		(8) bps
Provision for credit losses	$	92		$	106		$	138		(13.2)	%	(33.3)	%
Allowance for loan and lease losses to nonperforming loans	179		%	212		%	208		%	N/M		N/M
Allowance for credit losses to nonperforming loans	213			256			250			N/M		N/M

N/M = Not Meaningful

Net loan charge-offs for the second quarter of 2026 totaled $115 million, or 0.42% of average total loans. These results compare to $102 million, or 0.39%, for the second quarter of 2025 and $101 million, or 0.38%, for the first quarter of 2026.

Key’s allowance for credit losses was $1.7 billion, or 1.56% of total period-end loans at June 30, 2026, compared to 1.64% at June 30, 2025, and 1.60% at March 31, 2026. A reserve release of $23 million during the second quarter of 2026 was the result of resilient economic scenario assumptions and the improving mix shift of commercial loans.

At June 30, 2026, Key’s nonperforming loans totaled $809 million, which represented 0.73% of period-end portfolio loans. These results compare to 0.65% at June 30, 2025, and 0.62% at March 31, 2026. Nonperforming assets at June 30, 2026, totaled $818 million, and represented 0.74% of period-end portfolio loans and OREO and other nonperforming assets. These results compare to 0.66% at June 30, 2025, and 0.63% at March 31, 2026.

CAPITAL

Key’s estimated risk-based capital ratios, included in the following table, continued to exceed all “well-capitalized” regulatory benchmarks at June 30, 2026.


Capital Ratios

	6/30/2026		3/31/2026		6/30/2025
Common Equity Tier 1 (a)	11.2	%	11.4	%	11.7	%

Tier 1 risk-based capital (a)	12.8		13.0		13.4
Total risk-based capital (a)	14.8		15.2		15.7
Tangible common equity to tangible assets (b)	7.7		8.0		7.8
Leverage (a)	10.3		10.5		10.3

(a)June 30, 2026 ratio is estimated.

(b)The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures related to “tangible common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

Key's regulatory capital position remained strong in the second quarter of 2026. As shown in the preceding table, at June 30, 2026, Key’s estimated Common Equity Tier 1 and Tier 1 risk-based capital ratios stood at 11.2% and 12.8%, respectively.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 6


Summary of Changes in Common Shares Outstanding

In thousands					Change 2Q26 vs.
		2Q26	1Q26	2Q25	1Q26		2Q25
Shares outstanding at beginning of period		1,087,293	1,102,401	1,111,986	(1.4)	%	(2.2)	%
Share repurchases		(15,531)	(17,969)	—	(13.6)		N/M
Shares issued under employee compensation plans (net of cancellations and returns)		273	2,861	467	(90.5)		(41.5)

	Shares outstanding at end of period	1,072,035	1,087,293	1,112,453	(1.4)	%	(3.6)	%

N/M = Not Meaningful

During the second quarter of 2026, Key declared a dividend of $.205 per common share. The reduction in share count was driven by $341 million of common shares repurchased.

LINE OF BUSINESS RESULTS

The following table shows the contribution made by each major business segment to Key’s taxable-equivalent revenue from continuing operations and income (loss) from continuing operations attributable to Key for the periods presented. For more detailed financial information pertaining to each business segment, see the tables at the end of this release.


Major Business Segments

Dollars in millions								Change 2Q26 vs.
		2Q26		1Q26		2Q25		1Q26		2Q25
Revenue from continuing operations (TE)
Consumer Bank		$	1,010	$	977	$	966	3.4	%	4.6	%
Commercial Bank		1,108		1,119		1,074		(1.0)		3.2
Other (a)		(154)		(143)		(200)		(7.7)		23.0


	Total	$	1,964	$	1,953	$	1,840	0.6	%	6.7	%

Income (loss) from continuing operations attributable to Key
Consumer Bank		$	203	$	174	$	165	16.7	%	23.0	%
Commercial Bank		423		452		423		(6.4)		—
Other (a)		(118)		(104)		(165)		(13.5)		28.5


	Total	$	508	$	522	$	423	(2.7)	%	20.1	%

(a)Other includes other segments that consists of corporate treasury, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represent the unallocated portion of nonearning assets of corporate support functions. Other also includes the residual net impact of our internal funds transfer pricing methodology, which arise from centrally managed interest rate activities and asset-liability repricing differences. Corporate treasury includes realized gains and losses from transactions associated with Key's investment securities portfolio. Reconciling items also includes intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations.

TE = Taxable Equivalent

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 7


Consumer Bank

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Summary of operations
Net interest income (TE)	$	757	$	738	$	731	2.6	%	3.6	%
Noninterest income	253		239		235		5.9		7.7
Total revenue (TE)	1,010		977		966		3.4		4.6
Provision for credit losses	26		40		55		(35.0)		(52.7)
Noninterest expense	716		708		693		1.1		3.3
Income (loss) before income taxes (TE)	268		229		218		17.0		22.9
Allocated income taxes (benefit) and TE adjustments	65		55		53		18.2		22.6
Net income (loss) attributable to Key	$	203	$	174	$	165	16.7	%	23.0	%

Average balances
Loans and leases	$	33,263	$	33,997	$	36,138	(2.2)	%	(8.0)	%
Total assets	36,630		37,341		39,156		(1.9)		(6.5)
Deposits	87,399		87,796		88,002		(0.5)		(0.7)

Assets under management at period end	$	74,204	$	69,756	$	64,244	6.4	%	15.5	%

TE = Taxable Equivalent


Additional Consumer Bank Data

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Noninterest income
Trust and investment services income	$	135	$	130	$	119	3.8	%	13.4	%
Service charges on deposit accounts	33		34		35		(2.9)		(5.7)
Cards and payments income	60		54		60		11.1		—
Consumer mortgage income	16		13		14		23.1		14.3
Other noninterest income	9		8		7		12.5		28.6
Total noninterest income	$	253	$	239	$	235	5.9	%	7.7	%

Average deposit balances
Money market deposits	$	36,116	$	35,920	$	34,524	0.5	%	4.6	%
Demand deposits	22,861		23,214		22,784		(1.5)		0.3
Savings deposits	4,238		4,199		4,406		0.9		(3.8)

Time deposits	10,102		10,610		11,907		(4.8)		(15.2)
Noninterest-bearing deposits	14,082		13,853		14,381		1.7		(2.1)
Total deposits	$	87,399	$	87,796	$	88,002	(0.5)	%	(0.7)	%






Other data
Branches	939		940		943
Automated teller machines	1,107		1,112		1,166

Consumer Bank Summary of Operations (2Q26 vs. 2Q25)

•Key's Consumer Bank recorded net income attributable to Key of $203 million for the second quarter of 2026, compared to $165 million for the year-ago quarter

•Taxable-equivalent net interest income increased by $26 million, or 3.6%, compared to the second quarter of 2025

•Average loans and leases decreased $2.9 billion, or 8.0%, from the second quarter of 2025, reflective of the intentional run-off of low-yielding loans

•Average deposits decreased $603 million, or 0.7%, from the second quarter of 2025, driven by lower time deposits, partially offset by an increase in money market deposits

•Provision for credit losses decreased $29 million compared to the second quarter of 2025, primarily driven by favorable economic assumptions and portfolio credit trends

•Noninterest income increased $18 million from the year-ago quarter, primarily driven by higher trust and investment services income

•Noninterest expense increased $23 million from the year-ago quarter, primarily driven by higher personnel expense

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 8


Commercial Bank

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Summary of operations
Net interest income (TE)	$	697	$	674	$	649	3.4	%	7.4	%
Noninterest income	411		445		425		(7.6)		(3.3)
Total revenue (TE)	1,108		1,119		1,074		(1.0)		3.2
Provision for credit losses	67		70		84		(4.3)		(20.2)
Noninterest expense	503		474		451		6.1		11.5
Income (loss) before income taxes (TE)	538		575		539		(6.4)		(0.2)
Allocated income taxes and TE adjustments	115		123		116		(6.5)		(0.9)


Net income (loss) attributable to Key	$	423	$	452	$	423	(6.4)	%	—	%

Average balances
Loans and leases	$	76,238	$	73,146	$	69,089	4.2	%	10.3	%
Loans held for sale	936		958		707		(2.3)		32.4
Total assets	85,793		82,455		78,624		4.0		9.1
Deposits	58,895		58,929		55,927		(0.1)		5.3

TE = Taxable Equivalent


Additional Commercial Bank Data

Dollars in millions							Change 2Q26 vs.
	2Q26		1Q26		2Q25		1Q26		2Q25
Noninterest income
Trust and investment services income	$	24	$	27	$	26	(11.1)	%	(7.7)
Investment banking and debt placement fees	169		198		179		(14.6)		(5.6)	%
Cards and payments income	29		27		21		7.4		38.1
Service charges on deposit accounts	44		43		39		2.3		12.8
Corporate services income	78		70		75		11.4		4.0
Commercial mortgage servicing fees	49		62		70		(21.0)		(30.0)
Operating lease income and other leasing gains	10		8		15		25.0		(33.3)
Other noninterest income	8		10		—		(20.0)		N/M
Total noninterest income	$	411	$	445	$	425	(7.6)	%	(3.3)	%

N/M = Not Meaningful

Commercial Bank Summary of Operations (2Q26 vs. 2Q25)

•Key's Commercial Bank recorded net income attributable to Key of $423 million for the second quarter of 2026, compared to $423 million for the year-ago quarter

•Taxable-equivalent net interest income increased by $48 million, or 7.4%, compared to the second quarter of 2025

•Average loan and lease balances increased $7.1 billion, or 10.3%, compared to the second quarter of 2025, driven by an increase in commercial and industrial loans

•Average deposit balances increased $3.0 billion compared to the second quarter of 2025, driven by higher client deposits

•Provision for credit losses decreased $17 million compared to the second quarter of 2025, driven by the impact to reserves due to improved economic assumptions

•Noninterest income decreased $14 million compared to the second quarter of 2025, primarily driven by a decrease in commercial mortgage servicing fees

•Noninterest expense increased $52 million compared to the second quarter of 2025, driven by an increase in personnel expense and support and overhead expense

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 9

*******************************************

KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 10


CONTACTS:

ANALYSTS			MEDIA
Troy Gates			Susan Donlan
216.689.3244			216.471.3133
Troy_Gates@KeyBank.com			Susan_E_Donlan@KeyBank.com

Hannah Lewallen			Beth Strauss
216.471.4856			216.471.2787
Hannah_Lewallen@KeyBank.com			Beth_A_Strauss@KeyBank.com

Johnny Li
646.551.8917
Johnny_Li@KeyBank.com

INVESTOR RELATIONS:			KEY MEDIA NEWSROOM:
www.key.com/ir			www.key.com/newsroom


This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts. Forward-looking statements usually can be identified by the use of words such as “goal,” “objective,” “plan,” “expect,” “assume,” “anticipate,” “intend,” “project,” “believe,” “estimate,” or other words of similar meaning. Forward-looking statements provide our current expectations or forecasts of future events, circumstances, results, or aspirations. Forward-looking statements, by their nature, are subject to assumptions, risks and uncertainties, many of which are outside of our control. Our actual results may differ materially from those set forth in our forward-looking statements. There is no assurance that any list of risks and uncertainties or risk factors is complete. Factors that could cause Key's actual results to differ from those described in the forward-looking statements can be found in KeyCorp's Form 10-K for the year ended December 31, 2025 and in KeyCorp's subsequent SEC filings, all of which have been or will be filed with the Securities and Exchange Commission (the “SEC”) and are or will be available on Key’s website (www.key.com/ir) and on the SEC’s website (www.sec.gov). These factors may include, among others, adverse changes in credit quality trends, declining asset prices, a worsening of the U.S. economy due to financial, political, or other shocks, the extensive regulation of the U.S. financial services industry, the soundness of other financial institutions, and the impact of changes in the interest rate environment. Any forward-looking statements made by us or on our behalf speak only as of the date they are made and we do not undertake any obligation to update any forward-looking statement to reflect the impact of subsequent events or circumstances.

A live Internet broadcast of KeyCorp’s conference call to discuss quarterly results and currently anticipated earnings trends and to answer analysts’ questions can be accessed through the Investor Relations section at https://www.key.com/ir at 9:00 a.m. ET, on July 21, 2026. A replay of the call will be available on our website through July 21, 2027.

For up-to-date company information, media contacts, and facts and figures about Key’s lines of business, visit our Media Newsroom at https://www.key.com/newsroom.

*****

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 11

KeyCorp

Second Quarter 2026

Financial Supplement


Page
12			Basis of Presentation
13			Financial Highlights
15			GAAP to Non-GAAP Reconciliation
17			Consolidated Balance Sheets
18			Consolidated Statements of Income
19			Consolidated Average Balance Sheets, and Net Interest Income and Yields/Rates From Continuing Operations
21			Noninterest Expense
21			Personnel Expense
21			Loan Composition
21			Loans Held for Sale Composition
22			Summary of Changes in Loans Held for Sale
22			Summary of Loan and Lease Loss Experience From Continuing Operations
23			Asset Quality Statistics From Continuing Operations
23			Summary of Nonperforming Assets and Past Due Loans From Continuing Operations
23			Summary of Changes in Nonperforming Loans From Continuing Operations
24			Line of Business Results
24			Selected Items Impact on Earnings

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 12

Basis of Presentation

Use of Non-GAAP Financial Measures

This document contains GAAP financial measures and non-GAAP financial measures where management

believes it to be helpful in understanding Key’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this document, the financial supplement, or conference call slides related to this document, all of which can be found on Key’s website (www.key.com/ir).

Forward-Looking Non-GAAP Financial Measures

From time to time Key may discuss forward-looking non-GAAP financial measures. Key is unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because Key is unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant for future results.

Annualized Data

Certain returns, yields, performance ratios, or quarterly growth rates are presented on an “annualized”

basis. This is done for analytical and decision-making purposes to better discern underlying performance trends when compared to full-year or year-over-year amounts.

Taxable Equivalent

The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. Income from tax-exempt earning assets is increased by an amount equivalent to the taxes that would have been paid if this income had been taxable at the federal statutory rate. This adjustment puts all earning assets, most notably tax-exempt loans, and certain lease assets, on a common basis that facilitates comparison of results to peers.

Earnings Per Share Equivalent

Certain income or expense items may be expressed on a per common share basis. This is done for analytical and decision-making purposes to better discern underlying trends in total consolidated earnings per share performance excluding the impact of such items. When the impact of certain income or expense items is disclosed separately, the after-tax amount is computed using the marginal tax rate, unless otherwise specified, with this then being the amount used to calculate the earnings per share equivalent.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 13


Financial Highlights
(Dollars in millions, except per share amounts)
			Three months ended
			6/30/2026			3/31/2026			6/30/2025
Summary of operations
	Net interest income (TE)		$	1,258		$	1,230		$	1,150
	Noninterest income		706			723			690
		Total revenue (TE)	1,964			1,953			1,840
	Provision for credit losses		92			106			138
	Noninterest expense		1,217			1,181			1,154
	Income (loss) from continuing operations attributable to Key		508			522			423
	Income (loss) from discontinued operations, net of taxes		1			—			2
	Net income (loss) attributable to Key		509			522			425

	Income (loss) from continuing operations attributable to Key common shareholders		472			486			387
	Income (loss) from discontinued operations, net of taxes		1			—			2
	Net income (loss) attributable to Key common shareholders		473			486			389
Per common share
	Income (loss) from continuing operations attributable to Key common shareholders		$	0.44		$	0.45		$	0.35
	Income (loss) from discontinued operations, net of taxes		—			—			—
	Net income (loss) attributable to Key common shareholders (a)		0.44			0.45			0.35

	Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution		0.44			0.44			0.35
	Income (loss) from discontinued operations, net of taxes — assuming dilution		—			—			—
	Net income (loss) attributable to Key common shareholders — assuming dilution (a)		0.44			0.44			0.35

	Cash dividends declared		0.205			0.205			0.205
	Book value at period end		16.19			16.13			15.32
	Tangible book value at period end		13.62			13.60			12.83
	Market price at period end		23.05			20.05			17.42
Performance ratios
	From continuing operations:
	Return on average total assets		1.08		%	1.14		%	0.91		%
	Return on average common equity		10.85			11.02			9.26
	Return on average tangible common equity (b)		12.89			13.02			11.09
	Net interest margin (TE)		2.89			2.87			2.66
	Cash efficiency ratio (b)		61.9			60.4			62.4
	From consolidated operations:
	Return on average total assets		1.08		%	1.14		%	0.91		%
	Return on average common equity		10.87			11.02			9.31
	Return on average tangible common equity (b)		12.91			13.02			11.15
	Net interest margin (TE)		2.89			2.87			2.66
	Loan to deposit (c)		73.0			74.6			72.9
Capital ratios at period end
	Key shareholders’ equity to assets		10.3		%	10.6		%	10.5		%
	Key common shareholders’ equity to assets		9.1			9.3			9.2
	Tangible common equity to tangible assets (b)		7.7			8.0			7.8
	Common Equity Tier 1 (d)		11.2			11.4			11.7
	Tier 1 risk-based capital (d)		12.8			13.0			13.4
	Total risk-based capital (d)		14.8			15.2			15.7
	Leverage (d)		10.3			10.5			10.3
Asset quality — from continuing operations
	Net loan charge-offs		$	115		$	101		$	102
	Net loan charge-offs to average loans		0.42		%	0.38		%	0.39		%
	Allowance for loan and lease losses		$	1,445		$	1,449		$	1,446
	Allowance for credit losses		1,722			1,745			1,743
	Allowance for loan and lease losses to period-end loans		1.31		%	1.33		%	1.36		%
	Allowance for credit losses to period-end loans		1.56			1.60			1.64
	Allowance for loan and lease losses to nonperforming loans		179			212			208
	Allowance for credit losses to nonperforming loans		213			256			250
	Nonperforming loans at period-end		$	809		$	682		$	696
	Nonperforming assets at period-end		818			692			707
	Nonperforming loans to period-end portfolio loans		0.73		%	0.62		%	0.65		%
	Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets		0.74			0.63			0.66
Trust assets
	Assets under management		$	74,204		$	69,756		$	64,244


Other data
	Average full-time equivalent employees		17,517			17,469			17,105
	Branches		939			940			943
	Taxable-equivalent adjustment		$	8		$	8		$	9

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

(b)The table entitled “GAAP to Non-GAAP Reconciliations” starting on page 15 of this supplement presents the computations of certain financial measures related to “tangible common equity” and “cash efficiency.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

(c)Represents period-end consolidated total loans and loans held for sale divided by period-end consolidated total deposits.

(d)June 30, 2026, ratio is estimated.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 14



Financial Highlights (continued)
(Dollars in millions, except per share amounts)
		Six months ended
		6/30/2026			6/30/2025
Summary of operations
	Net interest income (TE)	$	2,488		$	2,255
	Noninterest income	1,429			1,358
	Total revenue (TE)	3,917			3,613
	Provision for credit losses	198			256
	Noninterest expense	2,398			2,285
	Income (loss) from continuing operations attributable to Key	1,030			829
	Income (loss) from discontinued operations, net of taxes	1			1
	Net income (loss) attributable to Key	1,031			830

	Income (loss) from continuing operations attributable to Key common shareholders	958			757
	Income (loss) from discontinued operations, net of taxes	1			1
	Net income (loss) attributable to Key common shareholders	959			758

Per common share
	Income (loss) from continuing operations attributable to Key common shareholders	$	0.89		$	0.69
	Income (loss) from discontinued operations, net of taxes	—			—
	Net income (loss) attributable to Key common shareholders (a)	0.89			0.69

	Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution	0.88			0.69
	Income (loss) from discontinued operations, net of taxes — assuming dilution	—			—
	Net income (loss) attributable to Key common shareholders — assuming dilution (a)	0.88			0.69

	Cash dividends paid	0.41			0.41

Performance ratios
	From continuing operations:
	Return on average total assets	1.11		%	0.90		%
	Return on average common equity	10.93			9.28
	Return on average tangible common equity (b)	12.96			11.16
	Net interest margin (TE)	2.88			2.62
	Cash efficiency ratio (b)	61.1			63.0

	From consolidated operations:
	Return on average total assets	1.11		%	0.90		%
	Return on average common equity	10.95			9.29
	Return on average tangible common equity (b)	12.97			11.18
	Net interest margin (TE)	2.88			2.62

Asset quality — from continuing operations
	Net loan charge-offs	$	216		$	212
	Net loan charge-offs to average total loans	0.40		%	0.41		%

Other data
	Average full-time equivalent employees	17,493			17,047

Taxable-equivalent adjustment		16			18

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

(b)The following table entitled “GAAP to Non-GAAP Reconciliations” presents the computations of certain financial measures related to “tangible common equity” and “cash efficiency.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 15

GAAP to Non-GAAP Reconciliations

(Dollars in millions)

The table below presents certain non-GAAP financial measures defined and described below.

The tangible common equity ratio and the return on average tangible common equity ratio have been a focus for some investors, and management believes these ratios may assist investors in analyzing Key’s capital position without regard to the effects of intangible assets and preferred stock. Adjusted return on average tangible common equity excludes significant or unusual items that management does not consider indicative of ongoing financial performance. Management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

The table also shows the computation for pre-provision net revenue and adjusted pre-provision net revenue, which are not formally defined by GAAP. Management believes that eliminating the effects of the provision for credit losses makes it easier to analyze the results by presenting them on a more comparable basis. Further, management believes that adjusting pre-provision net revenue for significant or unusual items that management does not consider indicative of ongoing financial performance provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

The cash efficiency ratio is a ratio of two non-GAAP performance measures. As such, there is no directly comparable GAAP performance measure. The cash efficiency ratio performance measure removes the impact of Key’s intangible asset amortization from the calculation. Management believes this ratio provides greater consistency and comparability between Key’s results and those of its peer banks. Additionally, this ratio is used by analysts and investors as they develop earnings forecasts and peer bank analysis. The adjusted cash efficiency ratio excludes significant or unusual items that management does not consider indicative of ongoing financial performance

Adjusted taxable-equivalent revenue or adjusted revenue is a non-GAAP measure in that it adjusts revenue for certain tax-exempt instruments and selected items. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use interest income on a taxable-equivalent basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable instruments. Additionally, management believes adjusting for the selected items provide investors with useful information to gain a better understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of the financial impacts related to those selected items.

Adjusted noninterest income and adjusted noninterest expense are non-GAAP measures in that they exclude significant or unusual items that management does not consider indicative of ongoing financial performance. Management believes these measures provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

Adjusted income (loss) available from continuing operations attributable to Key common shareholders (or “adjusted net income”) and diluted earnings per share - adjusted (or "adjusted earnings per share") are non-GAAP in that these measures exclude significant or unusual items, net of tax, that management does not consider indicative of ongoing financial performance . Management believes these measures provide investors with useful information to gain a better understanding of ongoing operations and enhance comparability of results with prior periods.

Adjusted operating leverage and fee-based adjusted operating leverage are non-GAAP performance measures that utilize revenue on a tax-equivalent basis and adjust revenue and expense for significant and unusual items. Management utilizes these measurements in analyzing performance and believes that adjusting for significant and unusual items provide investors with useful information to gain a better understanding of ongoing operations and enhance comparability of results with prior periods.

Marked CET1 ratio is a non-GAAP measure and is calculated based on Common Equity Tier 1 capital, inclusive of the AOCI impact from securities and pension. The marked CET1 ratio differs from the defined CET1 regulatory capital ratio by including the impact of AFS and pension accumulated other comprehensive income (loss) (AOCI) amounts in the calculation of the capital ratio. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed may be considered non-GAAP financial measures. Management believes this measure provides useful information in light of the potential for change in the regulatory capital framework.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. Although these non-GAAP financial measures are frequently used by investors to evaluate a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP.


	Three months ended									Six months ended
	6/30/2026			3/31/2026			6/30/2025			6/30/2026			6/30/2025
Net interest income (GAAP)	$	1,250		$	1,222		$	1,141		$	2,472		$	2,237
Add: Taxable-equivalent adjustment	8			8			9			16			18
Net interest income TE (non-GAAP) (A)	$	1,258		$	1,230		$	1,150		$	2,488		$	2,255

Net income (loss) attributable to Key common shareholders (GAAP) (B)	$	473		$	486		$	389		$	959		$	758

Average Key shareholders' equity (GAAP)	$	19,947		$	20,392		$	19,268		$	20,169		$	18,952
Less: Average intangible assets	2,756			2,758			2,772			2,757			2,774
Average preferred stock	2,500			2,500			2,500			2,500			2,500
Average tangible common equity (non-GAAP) (C)	$	14,691		$	15,134		$	13,996		$	14,912		$	13,678

Key shareholders' equity (GAAP)	$	19,798		$	19,987		$	19,484
Less: Intangible assets	2,755			2,757			2,770
Preferred stock (a)	2,446			2,446			2,446
Tangible common equity (non-GAAP) (D)	$	14,597		$	14,784		$	14,268

Total assets (GAAP)	$	191,317		$	188,663		$	185,499
Less: Intangible assets	2,755			2,757			2,770
Tangible assets (non-GAAP) (E)	$	188,562		$	185,906		$	182,729

Tangible common equity to tangible assets ratio (non-GAAP) (D/E)	7.74		%	7.95		%	7.81		%
Return on average tangible common equity consolidated (non-GAAP) (B/C)	12.91		%	13.02		%	11.15		%	12.97		%	11.18		%

Common equity tier 1 (F)	$	17,016		$	17,038		$	16,775
Add: AFS and Pension AOCI (loss)	(2,154)			(2,152)			(2,476)
Marked common equity tier 1 (non-GAAP) (G) (b)	$	14,862		$	14,886		$	14,299

Risk-weighted assets (H) (c)	$	152,317		$	149,338		$	143,427
Common equity tier 1 ratio (F/H) (c)	11.2		%	11.4		%	11.7		%
Marked CET1 ratio (non-GAAP) (G/H) (b)(c)	9.8			10.0			10.0

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 16


GAAP to Non-GAAP Reconciliations (continued)
(Dollars in millions)
	Three months ended									Six months ended
	6/30/2026			3/31/2026			6/30/2025			6/30/2026			6/30/2025
Income (loss) from continuing operations attributable to Key common shareholders (GAAP) (I)	$	472		$	486		$	387		$	958		$	757
Plus: Selected items (net of tax) (d)	—			—			—			—			—
Net income (loss) from continuing operations attributable to Key common shareholders, excluding selected items (non-GAAP) (J)	$	472		$	486		$	387		$	958		$	757

Return on average tangible common equity from continuing operations (non-GAAP) (I/C)	12.89		%	13.02		%	11.09		%	12.96		%	11.16		%
Adjusted return on average tangible common equity from continuing operations excluding selected items (non-GAAP) (J/C)	12.89			13.02			11.09			12.96			11.16

Noninterest income (GAAP) (K)	$	706		$	723		$	690		$	1,429		$	1,358
Plus: Selected items (d)	—			—			—			—			—
Adjusted noninterest income (non-GAAP) (L)	$	706		$	723		$	690		$	1,429		$	1,358

Noninterest expense (GAAP) (M)	$	1,217		$	1,181		$	1,154		$	2,398		$	2,285
Less: Intangible asset amortization	2			2			5			4			10
Noninterest expense less intangible asset amortization (non-GAAP) (N)	$	1,215		$	1,179		$	1,149		$	2,394		$	2,275
Plus: Selected items (d) (O)	—			—			—			—			—
Adjusted noninterest expense less intangible asset amortization (non-GAAP) (P)	$	1,215		$	1,179		$	1,149		$	2,394		$	2,275

Adjusted noninterest expense (non-GAAP) (M+O)	$	1,217		$	1,181		$	1,154		$	2,398		$	2,285

Total taxable-equivalent revenue (non-GAAP) (A+K) = (Q)	$	1,964		$	1,953		$	1,840		$	3,917		$	3,613
Total adjusted taxable-equivalent revenue (non-GAAP) (A+L)	1,964			1,953			1,840			3,917			3,613
Cash efficiency ratio (non-GAAP) (N/Q)	61.86		%	60.37		%	62.45		%	61.12		%	62.97		%
Adjusted cash efficiency ratio (non-GAAP) (P/Q)	61.86			60.37			62.45			61.12			62.97

Pre-provision net revenue from continuing operations (non-GAAP) (A+K-M)	$	747		$	772		$	686		$	1,519		$	1,328
Plus: Selected items (d)	—			—			—			—			—
Adjusted pre-provison net revenue from continuing operations (non-GAAP)	$	747		$	772		$	686		$	1,519		$	1,328

Diluted EPS from continuing operations attributable to Key common shareholders (GAAP)	$	0.44		$	0.44		$	0.35		$	0.88		$	0.69
Plus: EPS impact of selected items (d)	—			—			—			—			—
Diluted EPS from continuing operations attributable to Key common shareholders - adjusted (non-GAAP) (e)	$	0.44		$	0.44		$	0.35		$	0.88		$	0.69

Adjusted operating leverage and fee based adjusted operating leverage
Adjusted noninterest income YoY Growth (R)	2.32		%	8.23		%	10.05		%	76.64		%	(36.50)		%
Adjusted taxable-equivalent revenue YoY Growth (S)	6.74			10.15			20.58			8.41			18.11
Adjusted noninterest expense YoY Growth (T)	5.46			4.42			44.79			4.95			4.43
Adjusted operating leverage (S - T)	1.28			5.73			(24.22)			3.47			13.68
Adjusted fee-based operating leverage (R - T)	(3.14)			3.81			(34.75)			71.69			(40.93)

(a)Net of capital surplus.

(b)Under the current applicable regulatory capital rules, Key has made the AOCI opt out election, which enables us to exclude components of AOCI from regulatory capital, notably the AOCI relative to securities and pension.

(c)Amounts and ratios as of June 30, 2026 are estimated.

(d)Additional detail provided in Selected Items table on page 24.

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

GAAP = U.S. generally accepted accounting principles; TE = Taxable Equivalent

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 17


Consolidated Balance Sheets
(Dollars in millions)

			6/30/2026		3/31/2026		6/30/2025
Assets
	Loans		$	110,430	$	109,190	$	106,389
	Loans held for sale		1,198		876		530
	Securities available for sale		38,459		38,918		40,669
	Held-to-maturity securities		9,515		9,116		6,914
	Trading account assets		936		783		1,374
	Short-term investments		12,416		11,782		11,564
	Other investments		1,230		1,204		1,058
		Total earning assets	174,184		171,869		168,498
	Allowance for loan and lease losses		(1,445)		(1,449)		(1,446)
	Cash and due from banks		1,711		1,130		1,766
	Premises and equipment		620		618		599
	Goodwill		2,752		2,752		2,752
	Other intangible assets		3		5		18
	Corporate-owned life insurance		4,456		4,439		4,423
	Accrued income and other assets		8,848		9,100		8,654
	Discontinued assets		188		199		235
		Total assets	$	191,317	$	188,663	$	185,499

Liabilities
	Deposits in domestic offices:





		Interest-bearing deposits	$	122,196	$	120,220	$	119,230
		Noninterest-bearing deposits	30,893		27,595		27,675
		Total deposits	153,089		147,815		146,905
	Federal funds purchased and securities sold under repurchase agreements		5		34		20
	Bank notes and other short-term borrowings		3,680		6,149		2,754
	Accrued expense and other liabilities		3,778		3,801		4,273
	Long-term debt		10,967		10,877		12,063
		Total liabilities	171,519		168,676		166,015

Equity
	Preferred stock		2,500		2,500		2,500
	Common shares		1,257		1,257		1,257
	Capital surplus		6,014		5,981		5,971
	Retained earnings		15,873		15,622		14,886
	Treasury stock, at cost		(3,492)		(3,152)		(2,629)
	Accumulated other comprehensive income (loss)		(2,354)		(2,221)		(2,501)
		Key shareholders’ equity	19,798		19,987		19,484


Total liabilities and equity			$	191,317	$	188,663	$	185,499

Common shares outstanding (000)			1,072,035		1,087,293		1,112,453

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 18


Consolidated Statements of Income
(Dollars in millions, except per share amounts)
			Three months ended						Six months ended
			6/30/2026		3/31/2026		6/30/2025		6/30/2026		6/30/2025
Interest income
	Loans		$	1,463	$	1,416	$	1,443	$	2,879	$	2,844
	Loans held for sale		15		14		11		29		25
	Securities available for sale		367		370		411		737		803
	Held-to-maturity securities		95		86		61		181		124
	Trading account assets		10		11		16		21		33
	Short-term investments		101		103		157		204		331
	Other investments		8		5		8		13		17
		Total interest income	2,059		2,005		2,107		4,064		4,177
Interest expense
	Deposits		600		598		730		1,198		1,483
	Federal funds purchased and securities sold under repurchase agreements		19		14		4		33		5
	Bank notes and other short-term borrowings		35		20		34		55		61
	Long-term debt		155		151		198		306		391
		Total interest expense	809		783		966		1,592		1,940
Net interest income			1,250		1,222		1,141		2,472		2,237
Provision for credit losses			92		106		138		198		256
Net interest income after provision for credit losses			1,158		1,116		1,003		2,274		1,981
Noninterest income
	Trust and investment services income		159		157		146		316		285
	Investment banking and debt placement fees		169		197		178		366		353
	Cards and payments income		94		86		85		180		167
	Service charges on deposit accounts		77		77		73		154		142
	Corporate services income		80		71		76		151		141
	Commercial mortgage servicing fees		49		62		70		111		146
	Corporate-owned life insurance income		33		34		32		67		65
	Consumer mortgage income		17		13		15		30		28
	Operating lease income and other leasing gains		10		8		14		18		23
	Other income		15		18		1		33		8
	Net securities gains (losses)		3		—		—		3		—
		Total noninterest income	706		723		690		1,429		1,358
Noninterest expense
	Personnel		786		743		705		1,529		1,385
	Net occupancy		68		68		69		136		136
	Computer processing		108		111		107		219		214
	Business services and professional fees		46		36		48		82		88
	Equipment		22		19		21		41		41
	Operating lease expense		7		7		10		14		21
	Marketing		22		18		24		40		45



	Other expense		158		179		170		337		355
		Total noninterest expense	1,217		1,181		1,154		2,398		2,285
Income (loss) from continuing operations before income taxes			647		658		539		1,305		1,054
	Income taxes (benefit)		139		136		116		275		225
Income (loss) from continuing operations			508		522		423		1,030		829
	Income (loss) from discontinued operations, net of taxes		1		—		2		1		1
Net income (loss)			$	509	$	522	$	425	$	1,031	$	830



Income (loss) from continuing operations attributable to Key common shareholders			$	472	$	486	$	387	$	958	$	757
Net income (loss) attributable to Key common shareholders			473		486		389		959		758
Per common share
Income (loss) from continuing operations attributable to Key common shareholders			$	0.44	$	0.45	$	0.35	$	0.89	$	0.69
Income (loss) from discontinued operations, net of taxes			—		—		—		—		—
Net income (loss) attributable to Key common shareholders (a)			0.44		0.45		0.35		0.89		0.69
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders			$	0.44	$	0.44	$	0.35	$	0.88	$	0.69
Income (loss) from discontinued operations, net of taxes			—		—		—		—		—
Net income (loss) attributable to Key common shareholders (a)			0.44		0.44		0.35		0.88		0.69

Cash dividends declared per common share			$	0.205	$	0.205	$	0.205	$	0.410	$	0.410

Weighted-average common shares outstanding (000)			1,071,229		1,084,277		1,100,033		1,077,977		1,098,453
	Effect of common share options and other stock awards(b)		8,779		10,091		7,177		9,435		8,331
Weighted-average common shares and potential common shares outstanding (000) (c)			1,080,008		1,094,368		1,107,210		1,087,412		1,106,784

(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, as applicable.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 19


Consolidated Average Balance Sheets, and Net Interest Income and Yields/Rates From Continuing Operations
(Dollars in millions)
		Second Quarter 2026						First Quarter 2026						Second Quarter 2025
		Average				Yield/		Average				Yield/		Average				Yield/
		Balance		Interest (a)		Rate (a)		Balance		Interest (a)		Rate (a)		Balance		Interest (a)		Rate (a)
Assets
	Loans: (b), (c)
	Commercial and industrial (d)	$	62,134	$	896	5.78	%	$	59,149	$	843	5.76	%	$	55,604	$	838	6.04	%
	Real estate — commercial mortgage	13,911		197		5.68		13,902		198		5.76		13,311		200		6.02
	Real estate — construction	2,816		46		6.53		2,803		45		6.50		2,873		50		6.95
	Commercial lease financing	2,117		20		3.77		2,213		21		3.81		2,524		22		3.59
	Total commercial loans	80,978		1,159		5.73		78,067		1,107		5.73		74,312		1,110		5.99
	Real estate — residential mortgage	18,305		153		3.35		18,593		155		3.34		19,446		162		3.34
	Home equity loans	5,470		73		5.33		5,609		74		5.35		6,091		86		5.63
	Other consumer loans	4,410		57		5.18		4,558		58		5.16		4,946		63		5.09
	Credit cards	909		29		12.67		910		30		13.24		920		31		13.44

	Total consumer loans	29,094		312		4.29		29,670		317		4.30		31,403		342		4.36
	Total loans	110,072		1,471		5.35		107,737		1,424		5.35		105,715		1,452		5.51
	Loans held for sale	1,085		15		5.68		1,092		14		4.99		770		11		5.72
	Securities available for sale (b), (e)	38,518		367		3.58		39,403		370		3.59		40,714		411		3.76
	Held-to-maturity securities (b)	9,425		95		4.05		8,795		86		3.91		7,038		61		3.46
	Trading account assets	797		10		5.30		865		11		4.96		1,259		16		5.32
	Short-term investments	10,705		101		3.79		11,134		103		3.74		13,489		157		4.67
	Other investments (e)	1,214		8		2.66		1,075		5		1.97		1,015		8		3.41
	Total earning assets	171,816		2,067		4.75		170,101		2,013		4.71		170,000		2,116		4.90
	Allowance for loan and lease losses	(1,442)						(1,419)						(1,424)
	Accrued income and other assets	17,926						17,567						18,224
	Discontinued assets	192						204						239
	Total assets	$	188,492					$	186,453					$	187,039
Liabilities
	Money market deposits	$	42,843	$	225	2.11	%	$	42,732	$	223	2.12	%	$	42,586	$	276	2.60	%
	Demand deposits	61,013		280		1.84		61,478		279		1.84		57,155		309		2.17
	Savings deposits	4,406		1		0.04		4,378		1		0.04		4,631		1		0.06

	Time deposits	11,749		94		3.21		11,777		95		3.26		15,601		144		3.70
	Total interest-bearing deposits	120,011		600		2.01		120,365		598		2.01		119,973		730		2.44
	Federal funds purchased and securities sold under repurchase agreements	2,002		19		3.71		1,539		14		3.69		415		4		4.28
	Bank notes and other short-term borrowings	4,179		35		3.33		2,585		20		3.20		3,288		34		4.27
	Long-term debt (f)	10,694		155		5.84		10,186		151		5.96		12,088		198		6.55
	Total interest-bearing liabilities	136,886		809		2.37		134,675		783		2.35		135,764		966		2.86
	Noninterest-bearing deposits	27,566						26,934						27,473
	Accrued expense and other liabilities	3,901						4,248						4,295
	Discontinued liabilities (f)	192						204						239
	Total liabilities	$	168,545					$	166,061					$	167,771
Equity


	Total equity	$	19,947					$	20,392					$	19,268
	Total liabilities and equity	$	188,492					$	186,453					$	187,039
Interest rate spread (TE)						2.38	%					2.36	%					2.04	%
Net interest income (TE) and net interest margin (TE)				$	1,258	2.89	%			$	1,230	2.87	%			$	1,150	2.66	%
TE adjustment (b)				8						8						9
	Net interest income, GAAP basis			$	1,250					$	1,222					$	1,141

(a)Results are from continuing operations. Interest excludes the interest associated with the liabilities referred to in (f) below, calculated using a matched funds transfer pricing methodology.

(b)Interest income on tax-exempt securities and loans has been adjusted to a taxable-equivalent basis using the statutory federal income tax rate of 21% for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025.

(c)For purposes of these computations, nonaccrual loans are included in average loan balances.

(d)Commercial and industrial average balances include $209 million, $205 million, and $218 million of assets from commercial credit cards for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

(e)Yield presented is calculated on the basis of amortized cost excluding fair value hedge basis adjustments. The average amortized cost for securities available for sale was $41.0 billion, $41.5 billion, and $43.8 billion for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively. Yield based on the fair value of securities available for sale was 3.81%, 3.75%, and 4.03% for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

(f)A portion of long-term debt and the related interest expense is allocated to discontinued liabilities as a result of applying Key’s matched funds transfer pricing methodology to discontinued operations.

TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 20



Consolidated Average Balance Sheets, and Net Interest Income and Yields/Rates From Continuing Operations
(Dollars in millions)
		Six months ended June 30, 2026						Six months ended June 30, 2025
		Average				Yield/		Average				Yield/
		Balance		Interest (a)		Rate (a)		Balance		Interest (a)		Rate (a)
Assets
	Loans: (b), (c)
	Commercial and industrial (d)	$	60,650	$	1,739	5.77	%	$	54,680	$	1,638	6.04	%
	Real estate — commercial mortgage	13,906		395		5.72		13,187		392		5.99
	Real estate — construction	2,810		91		6.52		2,889		99		6.91
	Commercial lease financing	2,165		41		3.79		2,588		46		3.55
	Total commercial loans	79,531		2,266		5.73		73,344		2,175		5.98
	Real estate — residential mortgage	18,448		308		3.35		19,591		327		3.34
	Home equity loans	5,539		147		5.34		6,169		172		5.62
	Other consumer loans	4,483		115		5.17		5,016		126		5.05
	Credit cards	910		59		12.95		919		62		13.74

	Total consumer loans	29,380		629		4.30		31,695		687		4.35
	Total loans	108,911		2,895		5.34		105,039		2,862		5.49
	Loans held for sale	1,088		29		5.33		792		25		6.23
	Securities available for sale (b), (e)	38,958		737		3.58		40,021		803		3.73
	Held-to-maturity securities (b)	9,112		181		3.98		7,156		124		3.46
	Trading account assets	831		21		5.13		1,277		33		5.26
	Short-term investments	10,918		204		3.77		14,345		331		4.65
	Other investments (e)	1,145		13		2.33		975		17		3.57
	Total earning assets	170,963		4,080		4.73		169,605		4,195		4.88
	Allowance for loan and lease losses	(1,431)						(1,413)
	Accrued income and other assets	17,748						18,254
	Discontinued assets	198						246
	Total assets	$	187,478					$	186,692
Liabilities
	Money market deposits	$	42,788	$	448	2.12	%	$	42,298	$	551	2.63	%
	Other demand deposits	61,244		559		1.84		57,307		619		2.18
	Savings deposits	4,392		2		0.04		4,620		2		0.06

	Time deposits	11,763		189		3.23		16,110		311		3.90
	Total interest-bearing deposits	120,187		1,198		2.01		120,335		1,483		2.49
	Federal funds purchased and securities sold under repurchase agreements	1,772		33		3.70		258		5		4.22
	Bank notes and other short-term borrowings	3,386		55		3.28		2,784		61		4.47
	Long-term debt (f)	10,442		306		5.90		11,934		391		6.58
	Total interest-bearing liabilities	135,787		1,592		2.36		135,311		1,940		2.89
	Noninterest-bearing deposits	27,251						27,655
	Accrued expense and other liabilities	4,073						4,528
	Discontinued liabilities (f)	198						246
	Total liabilities	$	167,309					$	167,740
Equity


	Total equity	$	20,169					$	18,952
	Total liabilities and equity	$	187,478					$	186,692
Interest rate spread (TE)						2.37	%					1.99	%
Net interest income (TE) and net interest margin (TE)				$	2,488	2.88	%			$	2,255	2.62	%
TE adjustment (b)				16						18
	Net interest income, GAAP basis			$	2,472					$	2,237

(a)Results are from continuing operations. Interest excludes the interest associated with the liabilities referred to in (f) below, calculated using a matched funds transfer pricing methodology.

(b)Interest income on tax-exempt securities and loans has been adjusted to a taxable-equivalent basis using the statutory federal income tax rate of 21% for the six months ended June 30, 2026, and June 30, 2025, respectively.

(c)For purposes of these computations, nonaccrual loans are included in average loan balances.

(d)Commercial and industrial average balances include $207 million and $216 million of assets from commercial credit cards for the six months ended June 30, 2026, and June 30, 2025, respectively.

(e)Yield presented is calculated on the basis of amortized cost excluding fair value hedge basis adjustments. The average amortized cost for securities available for sale was $41.3 billion and $43.2 billion for the six months ended June 30, 2026, and June 30, 2025, respectively. Yield based on the fair value of securities available for sale was 3.78% and 4.01% for the six months ended June 30, 2026, and June 30, 2025, respectively.

TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 21


Noninterest Expense
(Dollars in millions)

	Three months ended						Six months ended
	6/30/2026		3/31/2026		6/30/2025		6/30/2026		6/30/2025
Personnel (a)	$	786	$	743	$	705	$	1,529	$	1,385
Net occupancy	68		68		69		136		136
Computer processing	108		111		107		219		214
Business services and professional fees	46		36		48		82		88
Equipment	22		19		21		41		41
Operating lease expense	7		7		10		14		21
Marketing	22		18		24		40		45



Other expense	158		179		170		337		355
Total noninterest expense	$	1,217	$	1,181	$	1,154	$	2,398	$	2,285


Average full-time equivalent employees (b)	17,517		17,469		17,105		17,493		17,047

(a)Additional detail provided in Personnel Expense table below.

(b)The number of average full-time equivalent employees has not been adjusted for discontinued operations.


Personnel Expense
(Dollars in millions)
	Three months ended						Six months ended
	6/30/2026		3/31/2026		6/30/2025		6/30/2026		6/30/2025
Salaries and contract labor	$	448	$	439	$	427	$	887	$	832
Incentive and stock-based compensation	194		172		168		366		326
Employee benefits	140		127		108		267		217
Severance	4		5		2		9		10
Total personnel expense	$	786	$	743	$	705	$	1,529	$	1,385


Loan Composition
(Dollars in millions)

							Change 6/30/2026 vs.
	6/30/2026		3/31/2026		6/30/2025		3/31/2026		6/30/2025
Commercial and industrial (a)	$	62,734	$	60,651	$	56,058	3.4	%	11.9	%
Commercial real estate:
Commercial mortgage	13,941		14,144		13,862		(1.4)		0.6
Construction	2,896		2,801		2,830		3.4		2.3
Total commercial real estate loans	16,837		16,945		16,692		(0.6)		0.9
Commercial lease financing	1,997		2,200		2,472		(9.2)		(19.2)
Total commercial loans	81,568		79,796		75,222		2.2		8.4
Real estate — residential mortgage	18,178		18,483		19,330		(1.7)		(6.0)
Home equity loans	5,408		5,528		6,023		(2.2)		(10.2)
Other consumer loans	4,349		4,477		4,881		(2.9)		(10.9)
Credit cards	927		906		933		2.3		(0.6)

Total consumer loans	28,862		29,394		31,167		(1.8)		(7.4)
Total loans (b), (c)	$	110,430	$	109,190	$	106,389	1.1	%	3.8	%

(a)Loan balances include $208 million, $207 million, and $220 million of commercial credit card balances at June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

(b)Total loans exclude loans of $182 million at June 30, 2026, $194 million at March 31, 2026, and $230 million at June 30, 2025, related to the discontinued operations of the education lending business.

(c)Accrued interest of $453 million, $443 million, and $465 million at June 30, 2026, March 31, 2026, and June 30, 2025, respectively, presented in "other assets" on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table.


Loans Held for Sale Composition
(Dollars in millions)

							Change 6/30/2026 vs.
	6/30/2026		3/31/2026		6/30/2025		3/31/2026		6/30/2025
Commercial and industrial	$	559	$	139	$	158	302.2	%	253.8	%
Real estate — commercial mortgage	435		637		290		(31.7)		50.0


Real estate — residential mortgage	204		100		82		104.0		148.8

Total loans held for sale	$	1,198	$	876	$	530	36.8	%	126.0	%

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 22


Summary of Changes in Loans Held for Sale
(Dollars in millions)

	2Q26		1Q26		4Q25		3Q25		2Q25
Balance at beginning of period	$	876	$	1,077	$	998	$	530	$	811
New originations	2,099		2,034		3,356		3,471		1,806
Transfers from (to) held to maturity, net	34		(13)		(35)		—		(71)
Loan sales	(1,721)		(2,201)		(3,232)		(2,956)		(2,012)
Loan draws (payments), net	(89)		(25)		(10)		(42)		(1)
Valuation and other adjustments	(1)		4		—		(5)		(3)
Balance at end of period	$	1,198	$	876	$	1,077	$	998	$	530


Summary of Loan and Lease Loss Experience From Continuing Operations
(Dollars in millions)

	Three months ended									Six months ended
	6/30/2026			3/31/2026			6/30/2025			6/30/2026			6/30/2025
Average loans outstanding	$	110,072		$	107,737		$	105,715		$	108,911		$	105,039


Allowance for loan and lease losses at the beginning of the period	$	1,449		$	1,427		$	1,429		$	1,427		$	1,409
Loans charged off:
Commercial and industrial	84			90			94			174			156

Real estate — commercial mortgage	20			1			6			21			42
Real estate — construction	—			—			—			—			—
Total commercial real estate loans	20			1			6			21			42
Commercial lease financing	1			—			2			1			2
Total commercial loans	105			91			102			196			200
Real estate — residential mortgage	1			—			—			1			1
Home equity loans	—			1			—			1			1
Other consumer loans	14			15			13			29			27
Credit cards	11			10			12			21			24

Total consumer loans	26			26			25			52			53
Total loans charged off	131			117			127			248			253
Recoveries:
Commercial and industrial	9			10			19			19			29

Real estate — commercial mortgage	1			—			1			1			1
Real estate — construction	—			—			—			—			—
Total commercial real estate loans	1			—			1			1			1
Commercial lease financing	—			—			—			—			—
Total commercial loans	10			10			20			20			30
Real estate — residential mortgage	1			1			1			2			2
Home equity loans	—			1			1			1			2
Other consumer loans	3			2			2			5			4
Credit cards	2			2			1			4			3

Total consumer loans	6			6			5			12			11
Total recoveries	16			16			25			32			41
Net loan charge-offs	(115)			(101)			(102)			(216)			(212)
Provision (credit) for loan and lease losses	111			123			119			234			249

Allowance for loan and lease losses at end of period	$	1,445		$	1,449		$	1,446		$	1,445		$	1,446




Liability for credit losses on lending-related commitments at beginning of period	$	296		$	313		$	278		$	313		$	290
Provision (credit) for losses on lending-related commitments	(19)			(17)			19			(36)			7

Liability for credit losses on lending-related commitments at end of period (a)	$	277		$	296		$	297		$	277		$	297

Total allowance for credit losses at end of period	$	1,722		$	1,745		$	1,743		$	1,722		$	1,743

Net loan charge-offs to average total loans	0.42		%	0.38		%	0.39		%	0.40		%	0.41		%
Allowance for loan and lease losses to period-end loans	1.31			1.33			1.36			1.31			1.36
Allowance for credit losses to period-end loans	1.56			1.60			1.64			1.56			1.64
Allowance for loan and lease losses to nonperforming loans	179			212			208			179			208
Allowance for credit losses to nonperforming loans	213			256			250			213			250

Discontinued operations — education lending business:
Loans charged off	$	—		$	1		$	1		$	1		$	1
Recoveries	—			—			—			—			—
Net loan charge-offs	$	—		$	(1)		$	(1)		$	(1)		$	(1)

(a)Included in "Accrued expense and other liabilities" on the balance sheet.

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 23


Asset Quality Statistics From Continuing Operations
(Dollars in millions)
	2Q26			1Q26			4Q25			3Q25			2Q25
Net loan charge-offs	$	115		$	101		$	104		$	114		$	102
Net loan charge-offs to average total loans	0.42		%	0.38		%	0.39		%	0.42		%	0.39		%
Allowance for loan and lease losses	$	1,445		$	1,449		$	1,427		$	1,444		$	1,446
Allowance for credit losses (a)	1,722			1,745			1,740			1,736			1,743
Allowance for loan and lease losses to period-end loans	1.31		%	1.33		%	1.34		%	1.36		%	1.36		%
Allowance for credit losses to period-end loans	1.56			1.60			1.63			1.64			1.64
Allowance for loan and lease losses to nonperforming loans	179			212			232			219			208
Allowance for credit losses to nonperforming loans	213			256			283			264			250
Nonperforming loans at period end	$	809		$	682		$	615		$	658		$	696
Nonperforming assets at period end	818			692			627			668			707
Nonperforming loans to period-end portfolio loans	0.73		%	0.62		%	0.58		%	0.62		%	0.65		%
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets	0.74			0.63			0.59			0.63			0.66

(a)Includes the allowance for loan and lease losses plus the liability for credit losses on lending-related commitments.


Summary of Nonperforming Assets and Past Due Loans From Continuing Operations
(Dollars in millions)
	6/30/2026			3/31/2026			12/31/2025			9/30/2025			6/30/2025
Commercial and industrial	$	358		$	284		$	256		$	253		$	280

Real estate — commercial mortgage	256			190			157			214			226
Real estate — construction	—			—			—			—			—
Total commercial real estate loans	256			190			157			214			226
Commercial lease financing	6			6			7			—			—
Total commercial loans	620			480			420			467			506
Real estate — residential mortgage	100			115			104			98			95
Home equity loans	79			76			80			82			84
Other consumer loans	4			4			4			4			4
Credit cards	6			7			7			7			7

Total consumer loans	189			202			195			191			190
Total nonperforming loans (a)	809			682			615			658			696
OREO	9			10			9			10			11
Nonperforming loans held for sale	—			—			3			—			—

Total nonperforming assets	$	818		$	692		$	627		$	668		$	707
Accruing loans past due 90 days or more	$	85		$	153		$	99		$	110		$	74
Accruing loans past due 30 through 89 days	138			137			220			254			266
Nonperforming assets from discontinued operations — education lending business	1			2			2			2			2
Nonperforming loans to period-end portfolio loans	0.73		%	0.62		%	0.58		%	0.62		%	0.65		%
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets	0.74			0.63			0.59			0.63			0.66


Summary of Changes in Nonperforming Loans From Continuing Operations
(Dollars in millions)
	2Q26		1Q26		4Q25		3Q25		2Q25
Balance at beginning of period	$	682	$	615	$	658	$	696	$	686
Loans placed on nonaccrual status	365		253		248		210		233

Charge-offs	(131)		(117)		(124)		(140)		(127)
Loans sold	(33)		(2)		(7)		(13)		—
Payments	(38)		(37)		(124)		(68)		(74)
Transfers to OREO	(1)		(1)		(1)		(1)		(1)


Loans returned to accrual status	(35)		(29)		(35)		(26)		(21)
Balance at end of period	$	809	$	682	$	615	$	658	$	696

KeyCorp Reports Second Quarter 2026 Results

July 21, 2026

Page 24


Line of Business Results
(Dollars in millions)
																Change 2Q26 vs.
	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26		2Q25
Consumer Bank
Summary of operations
Total revenue (TE)	$	1,010		$	977		$	998		$	992		$	966		3.4	%	4.6	%
Provision for credit losses	26			40			32			40			55			(35.0)		(52.7)
Noninterest expense	716			708			734			693			693			1.1		3.3
Net income (loss) attributable to Key	203			174			176			196			165			16.7		23.0
Average loans and leases	33,263			33,997			34,683			35,363			36,138			(2.2)		(8.0)
Average deposits	87,399			87,796			87,738			87,692			88,002			(0.5)		(0.7)
Net loan charge-offs	45			40			49			49			40			12.5		12.5
Net loan charge-offs to average total loans	0.54		%	0.48		%	0.56		%	0.55		%	0.44		%	12.5		22.7
Nonperforming assets at period end	$	253		$	270		$	262		$	266		$	269		(6.3)		(5.9)
Return on average allocated equity	29.52		%	24.90		%	24.24		%	26.03		%	21.91		%	18.6		34.7


Commercial Bank
Summary of operations
Total revenue (TE)	$	1,108		$	1,119		$	1,194		$	1114		$	1074		(1.0)	%	3.2	%
Provision for credit losses	67			70			73			68			84			(4.3)		(20.2)
Noninterest expense	503			474			515			485			451			6.1		11.5
Net income (loss) attributable to Key	423			452			472			440			423			(6.4)		—
Average loans and leases	76,238			73,146			71,107			70,328			69,089			4.2		10.3
Average loans held for sale	936			958			1,140			1,224			707			(2.3)		32.4
Average deposits	58,895			58,929			60,485			58,523			55,927			(0.1)		5.3
Net loan charge-offs	71			64			53			64			62			10.9		14.5
Net loan charge-offs to average total loans	0.37		%	0.35		%	0.30		%	0.36		%	0.36		%	5.7		2.8
Nonperforming assets at period end	$	565		$	422		$	365		$	402		$	438		33.9		29.0
Return on average allocated equity	16.40		%	18.14		%	18.80		%	17.87		%	17.55		%	(9.6)		(6.6)

TE = Taxable Equivalent


Selected Items Impact on Earnings
(Dollars in millions, except per share amounts)
	Pretax(a)		After-tax at marginal rate(a)
Quarter to date results	Amount		Net Income		EPS(b), (d)
Three months ended June 30, 2026
No items	$	—	$	—	$	—
Three months ended March 31, 2026

No items	—		—		—




Three Months Ended December 31, 2025
FDIC special assessment (other expense)(c)	21		16		0.01
Three months ended September 30, 2025
FDIC special assessment (other expense)(c)	5		4		—
Three months ended June 30, 2025
No items	—		—		—

Year to date results
Six months ended June 30, 2026



No items	$	—	$	—	$	—


Six months ended June 30, 2025









No items	—		—		—

(a)Favorable (unfavorable) impact.

(b)Impact to EPS reflected on a fully diluted basis.

(c)In November 2023, the FDIC issued a final rule implementing a special assessment on insured depository institutions to recover the loss to the FDIC’s deposit insurance fund (DIF) associated with protecting uninsured depositors following the 2023 closures of Silicon Valley Bank and Signature Bank. KeyCorp recorded the initial loss estimate related to the special assessment during the fourth quarter of 2023. Amounts reflected in this table represent adjustments from initial estimates based on quarterly invoices received from the FDIC.

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