Keycorp · NYSE:KEY
Keycorp — Non-Deal Roadshow (June 2026)
32 slides from Keycorp's roadshow presentation, June 2026
Slide 1: KeyCorp Investor Meetings: Europe
KeyCorp Investor Meetings: Europe June 2026 Chris Gorman Brian Mauney Chairman & Director of Investor Relations Chief Executive Officer
Slide 2: KEY: Well-Positioned to Achieve Our Next Leg of Growth
KEY: Well-Positioned to Achieve Our Next Leg of Growth Strong foundation positions Key to execute on its targeted scale strategy to deliver sound, profitable growth Strong Foundation Distinctive Business Model Positioned for Future ▪ Sticky, granular client deposit base ▪ Relationship-based model fo
Slide 3: Regional Bank with National Reach and Scale
Regional Bank with National Reach and Scale Business Mix Overview(3) Noninterest NII Income Consumer Commercial Consumer 35% 48% 52% Commercial 65% Average Average Retail footprint (includes Commercial Bank and Institutional Bank presence) Loans Deposits Commercial & Institutional Bank presence Midd
Slide 4: Taking Stock of Our Progress and Path Forward
Taking Stock of Our Progress and Path Forward 2023 2024 2025 2026 2027-2030 ▪ Quickly mobilized team to ▪ Decisively pivoted to ▪ Met or exceeded all ▪ Making meaningful progress support clients & prospects playing Offense – grew financial targets… delivered towards 15%+ ROTCE Disciplined balance th
Slide 5: 1Q26 Results
1Q26 Results Differentiated Fee Client and Prospect Risk Management Commitment to Businesses Momentum Excellence Return of Capital +12% +3% 38 bps $1.3Bn Collective growth of priority Commercial client growth YoY NCOs / average loans Planned share repurchases in 2026 fee-based businesses YoY(1) ($38
Slide 6: 1Q26 Financials
1Q26 Financials % change $ in millions, excluding per share metrics From continuing operations 1Q25 4Q25 1Q26 QoQ YoY Diluted EPS $0.33 $0.43 $0.44 7%(1) 33% Net interest income(2),(3) $1,105 $1,223 $1,230 1% 11% Noninterest income $668 $782 $723 (8)% 8% Revenue(2),(3) $1,773 $2,005 $1,953 (3)% 10%
Slide 7: Strong Foundation Provides Opportunities For Growth
Strong Foundation Provides Opportunities For Growth We have a relationship-focused business model with unique, targeted capabilities to best serve consumer and commercial clients Strong Consumer Foundation A Differentiated Full-Service Commercial Platform Retail & Wealth Regional Trillionaire Capabi
Slide 8: NIM Benefits from Clearly Defined Tailwinds
NIM Benefits from Clearly Defined Tailwinds Meaningfully narrowed gap to peers over the past year with clearly defined NII tailwinds that will narrow the gap further moving forward NIM Tailwinds and Outlook Actuals Projections Closed ~2/3 of the gap to ~3.2% peer median 3.25%+ 64 bps ~3.05% 2.87% 21
Slide 9: Sticky, Granular Deposit Base
Sticky, Granular Deposit Base Proactive deposit beta management enabled by relationship-based deposits Average Deposit Balances Deposit Franchise Highlights $ in billions $145.0 $146.9 $146.2 $149.3 $147.3 ▪ Client deposits up 1% year-over-year $144.1 Other(1) Commercial $55.6 $54.7 $58.1 $58.9 ▪ NI
Slide 10: Improved Interest Rate Risk Management Framework
Improved Interest Rate Risk Management Framework “Up 200” Net Interest Income Sensitivity Key Points Key vs. Peers(1),(2) 4.0% ▪ Since adopting a new interest rate risk management Sensitivity 3.0% framework in early 2024, the ALCO directs Corporate Treasury to manage NII sensitivity within a defined
Slide 11: Meaningful Investment Opportunities
Meaningful Investment Opportunities Lean into our growth opportunities across Wealth Management, Payments, and Investment Banking 2026 Investment Themes Investment Focus Areas Capital Markets Compound our fee-based ▪ Talent growth in strategic areas / industry verticals of focus advantages ▪ Simplif
Slide 12: Diversified Fee Business with High Revenue Contribution
Diversified Fee Business with High Revenue Contribution Demonstrated ability to monetize commercial assets and relationships better than most regional banks Noninterest Income Revenue Contribution Noninterest Income as a % of Average Assets 1Q26 TTM(1) 1Q26 TTM(1) Peer 6 42% Peer 6 1.77% 38% Peer 5
Slide 13: Relatively Outsized, Scaled Investment Banking Platform
Relatively Outsized, Scaled Investment Banking Platform Noninterest Income Contribution Highlights 1Q26 TTM (1) ▪ A broad set of sophisticated, scaled capabilities built up over two decades, combined with a unique, targeted industry verticals approach Commercial ▪ Integrated teams that deliver the w
Slide 14: Wealth: A Valuable, Recurring Source of Fees and Deposits
Wealth: A Valuable, Recurring Source of Fees and Deposits Meaningful opportunity to penetrate existing mass affluent customers Noninterest Income Contribution Highlights 1Q26 TTM (1) ▪ Key Wealth Management segments: Key Private Client ($250k-$2MM investable assets), Key Private Bank ($2-10MM), Fami
Slide 15: Holistic Payments Platform with Growth Tailwinds
Holistic Payments Platform with Growth Tailwinds Delivering one of the broadest platforms of banking & software-based capabilities in the market Full Suite of Commercial Payment Capabilities, Continuing to Invest in Growth TRADITIONAL CAPABILITIES INNOVATIVE CAPABILITIES Strategic Focus Areas ▪ Cont
Slide 16: Leading, Differentiated CRE Servicing and Origination Platforms
Leading, Differentiated CRE Servicing and Origination Platforms National CRE servicing business is an “off-us”, countercyclical business that gives us unique insights into the U.S. CRE market Noninterest Income Contribution Highlights 1Q26 TTM (1) ▪ CRE servicing is a stable, counter-cyclical source
Slide 17: Strong Credit Quality
Strong Credit Quality Improved credit risk profile with strategic exits (e.g., indirect auto and vendor finance) and growth in targeted client segments Net Loan Charge-offs(1) As a % of average total loans 0.46% 0.43% 0.41% 0.41% 0.38% 0.29% 0.24% 0.26% 10-year 0.21% average(2): 0.18% 0.14% 0.30% 20
Slide 18: C&I Portfolio
C&I Portfolio High-quality (~55% investment grade) C&I portfolio diversified by product and geography C&I Loans as a % of Total Loans Balance by Industry(1) as a % of C&I Loans Period-end loans Period-end loans • ~57% SFL (98% investment grade) (1) Oil & gas Other • ~28% loans to Insurance / high- 3
Slide 19: Commercial Real Estate Portfolio
Commercial Real Estate Portfolio High-quality CRE portfolio has relatively limited credit exposure and is diversified by property type and geography Nonowner-occupied Loan Portfolio Composition CRE Portfolio Key Statistics Period-end loans; As a % total loans Office Highlights 1Q25 4Q25 1Q26 • $0 no
Slide 20: Consumer Portfolio
Consumer Portfolio High-quality, mostly secured portfolio with low loss history Consumer Loans as a % of Total Loans Consumer NCO Ratio(3) Period-end loans Residential Mortgage 17% 0.39% 0.41% 0.27% 0.21% 0.19% 0.29% 0.26% 0.28% 0.27% 0.12% 2018-2025 Home Equity Avg. NCO ratio 5% 2018 2019 2020 2021
Slide 21: NDFI Loans Including Private Credit
NDFI Loans Including Private Credit $ in billions; data as of 1Q26 Call Report Reconciliation Types of Private Credit Loans Subset Grade ~91% Investment Other private credit Equipment finance co's Real estate lenders Unitranche funds • 100% senior secured loans • Substantial equity in addition to co
Slide 22: Leading Capital Position
Leading Capital Position Common Equity Tier 1 Ratio Share Repurchase Activity ~80bps ▪ Repurchased $389MM of common shares in the first 11.7% 11.6% 11.7% 11.8% 11.8% 11.4% 10.6% quarter ▪ Expect to repurchase at least $1.3Bn of common shares in 2026 ▪ Board authorized new $3.0Bn share repurchase pro
Slide 23: Our Capital Ratios Compare Favorably to Most Peers
Our Capital Ratios Compare Favorably to Most Peers Top Quartile CET1 Capital Ratios Both as Reported and on a ‘Marked’ Basis CET1 Marked CET1(1) 1Q26 1Q26 Peer 3 11.5% Peer 1 10.8% 11.4% Peer 4 10.4% Peer 1 10.8% 10.0% 100+ bps anticipated Peer 2 10.8% Peer 2 9.5% benefit under proposed Basel III RS
Slide 24: 2026 Outlook
2026 Outlook FY2026 (vs. FY2025) $ in millions, unless otherwise stated Ranges are shown on an operating basis 4Q27 Targets(1) Revenue(1),(2) (FY25 baseline: $7,513) up ~7% 3.25%+ / 15%+ NIM and ROTCE Net interest income(1),(2) up 9 – 10% (previously up 8 – 10%) (FY25 baseline: $4,671) Net interest
Slide 25: Positioned for the Future
Positioned for the Future Productively deploy Disciplined balance sheet Compound our current fee Maintain expense excess capital (current growth and optimization advantage discipline while investing and future) ▪ Positioned to grow high-quality, ▪ Scaling investment banking, ▪ Focused on generating
Slide 26: Appendix
Appendix
Slide 27: Economic Expansion Remains Intact, Despite Inflation Headwinds
Economic Expansion Remains Intact, Despite Inflation Headwinds Inflation Expectations Remain Anchored Strong Liquid Asset and Net Worth Growth Support Consumers Inflation e pectations 0 ousehold li uid assets and net worth 2 200 2 20 0 20 trillions trillions ercent 00 0 0 0 0 00 0 0 an an an an 20 a
Slide 28: Hedging Strategy Opportunity
Hedging Strategy Opportunity ending balances, $ in billions 1Q26 ALM Hedge Actions ▪ Executed $3.0Bn of spot-starting receive-fixed swaps in 1Q26 with a W.A. receive rate of 3.4% and average maturity of 2.8 years Receive-fixed asset swaps(1) Other Hedge Positions 3/31/2026 Debt hedges $9.4 Securitie
Slide 29: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation $ in millions 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Net interest income (GAAP) $ 1,222 $ 1,215 $ 1,184 $ 1,141 $ 1,096 Add: Taxable-equivalent adjustment 8 8 9 9 9 Net interest income TE (non-GAAP) (A) $ 1,230 $ 1,223 $ 1,193 $ 1,150 $ 1,105 Net income (l
Slide 30: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation CET1 – AOCI impact(1) ($ in millions) 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 Common equity tier 1 (A) $ 17,038 $ 17,195 $ 17,051 $ 16,775 $ 16,549 $ 16,489 $ 15,043 Add: AFS and pension accumulated other comprehensive (2,152) (2,027) (2,176) (2,476) (2,601) (3,032) (3,118
Slide 31: Selected Items Impact on Earnings
Selected Items Impact on Earnings Selected Items Impact on Earnings $ in millions, except per share amounts Pretax(1) After-tax at marginal rate(1) Quarter to date results Amount Net Income EPS(2)(4) Three months ended March 31, 2026 No items $ — $ — $ — Three months ended December 31, 2025 FDIC spe
Slide 32: Forward-looking Statements and Additional Information
Forward-looking Statements and Additional Information This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, KeyCorp’s expectations or predictions of future financial or business performance or