Slide 1: KeyCorp
KeyCorp August 29, 2022 Chris Gorman Chairman and Chief Executive Officer
Slide 2: 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
Slide 3: Key: Focus Propels Growth
Key: Focus Propels Growth Built around targeted scale, driving sustainable growth and returns Leading position in targeted, high-growth Unique, digitally-led healthcare focus businesses Balanced, sustainable, relationship-based Strong credit profile revenue streams Accelerating growth with targeted
Slide 4: Accelerating Consumer Growth
Accelerating Consumer Growth Strong foundation – product set, physical distribution, bankers, digital capabilities, client base, and execution focus Strong foundation and distribution… …with a targeted national digital offering Attractive Client Set and Offerings: ~780 $240K weighted avg average bor
Slide 5: Unique Business Model - Commercial
Unique Business Model - Commercial We have a differentiated and targeted, full-service platform delivered through a unique, relationship-based approach A differentiated and comprehensive platform… …with a full set of products and capabilities… Regional Trillionaire/ Commercial Derivatives & Loans Pa
Slide 6: Growing the Business and Driving Returns
Growing the Business and Driving Returns Driving positive operating leverage while investing for the future Accelerating Growth Expense Discipline Driving Returns ▪ Acquiring and deepening relationships ▪ Focused on continuous improvements and Ability to Deliver Positive Operating Leverage(2) invest
Slide 7: Strong Risk Culture and Portfolio Discipline
Strong Risk Culture and Portfolio Discipline De-risked portfolio with a strong focus on relationships Consumer Commercial ▪ Exited higher risk indirect businesses that did not ▪ Focused on middle market clients in our 7 industry verticals align with our relationship strategy Construction Portfolio ▪
Slide 8: Disciplined Capital Management
Disciplined Capital Management Consistently delivering on our capital priorities Capital Priorities 1 2 3 Supporting Organic Dividends Share Repurchases Growth Common Equity Tier 1 Annual Dividend Growth Targeted range of 9.0%-9.5% 18% 5-year CAGR $0.75 10.2% 9.2% $0.33 2017 2018 2019 2020 2021 2Q22
Slide 9: Key is a Compelling Investment
Key is a Compelling Investment Current Valuation(1) Price / Earnings 10.0 Unique, distinctive business model and 8.0 8.0 strategy positioned for growth 6.0 7.0 4.0 2.0 High quality, diverse revenue streams built for consistent earnings 0.0 Price / Tangible Book Value Positioned to deliver through di
Slide 10: Appendix
Appendix
Slide 11: 2Q22 Results
2Q22 Results Financial Results Strategic Highlights ▪ Committed to serving and $.54 Positive 14% 20.9% supporting our clients through all Earnings per Operating Increase in Return on market conditions diluted common Leverage PPNR(1) vs. PQ average tangible share vs. PY & PQ common equity(1) ▪ Expand
Slide 12: FY 2022 Outlook
FY 2022 Outlook Full Year 2022 (vs. Full Year 2021) Prior Guidance (as of 4/21/22) Updated Guidance (as of 7/21/22) • Loans: up 4% - 6% • Loans: up 9% - 11% Average Balance Sheet • Deposits: up 1% - 3% • Deposits: up 1% - 3% Net Interest Income (TE) • Net interest income: up 6% - 9% • Net interest i
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation $ in millions Three m onths ended Six Months Ended 6/30/2022 3/31/2022 6/30/2021 6/30/2022 6/30/2021 Tangible com m on equity to tangible assets at period end Key shareholders' equity (GAAP) $ 14,427 $ 15,308 $ 17,941 Less: Intangible assets (1) 2,868 2,810 2,828 Pref
Slide 14: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation $ in millions 14