Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 124

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 124
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 foreign currency matters. S-76

CERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS In the opinion of Squire Patton Boggs (US) LLP, special tax counsel to KeyCorp, the following summary accurately describes certain material United States federal income tax considerations which may pertain to the purchase, ownership and disposition of notes. This summary is not exhaustive of all possible tax considerations. This summary applies to a beneficial holder that holds the notes as a capital asset within the meaning of section 1221 of the Internal Revenue Code of 1986, as amended (the “Code”). This summary is based on the Code, final and temporary regulations promulgated or proposed under the Code (the “Treasury Regulations”), rulings and other administrative guidance and judicial decisions, all as in effect as of the date of this prospectus supplement and all of which are subject to change or differing interpretations, possibly with retroactive effect. , Any such change or interpretation could result in United States federal income tax consequences different from those discussed below. This summary does not purport to address all aspects of United States federal income taxation that may be relevant to a beneficial owner subject to special tax rules, such as:

| • |     | banks or financial institutions, |

| • |     | insurance companies, |

| • |     | regulated investment companies, |

| • |     | real estate investment trusts, |

| • |     | brokers and dealers in securities or currencies, |

| • |     | tax-exempt entities, |

| • |     | personal holding companies, |

| • |     | entities or arrangements treated as partnerships for United States federal income tax purposes or other 
 pass-through entities, and investors therein,                                                           |

| • |     | certain former citizens or former residents of the United States, |

| • |     | persons subject to the alternative minimum tax, |

| • |     | non-United States persons subject to special rules, such as                                                         
 “controlled foreign corporations” and “passive foreign investment companies” (each within the meaning of the Code), |

| • |     | persons subject to special tax accounting rules as a result of any item of gross income with respect to the Notes 
 being taken into account in an applicable financial statement (as defined in Section 451 of the Code),            |

| • |     | persons holding notes as a hedge against currency risks or as a position in a “straddle” or conversion 
 transaction for tax purposes, or                                                                       |

| • |     | U