Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 108

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 108
---
 30 days of its due date. |

| • |     | We remain in breach of a warranty or covenant in respect of any Series T note (other than a warranty or covenant                                                                                                                                         
 solely for the benefit of a series other than the Series T notes) for 60 days after we receive a written notice of default stating we are in breach. The notice must be sent by either the trustee or holders of at least 25% of the principal amount of 
 the Series T notes.                                                                                                                                                                                                                                      |

The trustee may withhold notice to the holders of notes of any default, except in the payment of principal, premium, if any, or interest, if any, or in the payment of any sinking fund installment, if it considers the withholding of notice to be in the best interests of the holders. In addition, the trustee must withhold notice for certain defaults for a period of 60 days. Provisions Common to the Senior and Subordinated Indentures. Except in cases of default where the trustee has some special duties, the trustee is not required to take any action under the applicable indenture at the request of any holders unless the holders offer the trustee reasonable protection from expenses and liability (called an “indemnity”). If reasonable indemnity is provided, the holders of a majority in principal amount of the outstanding notes of the relevant series may direct the time, method and place of conducting any lawsuit or other formal legal action seeking any remedy available to the trustee. The trustee may refuse to follow those directions in certain circumstances. No delay or omission in exercising any right or remedy will be treated as a waiver of that right, remedy, Event of Default or Covenant Breach. Before you are allowed to bypass your trustee and bring your own lawsuit or other formal legal action or take other steps to enforce your rights or protect your interests relating to the notes, the following must occur:

| • |     | You must give your trustee written notice that an Event of Default or Covenant Breach has occurred and remains 
 uncured.                                                                                                       |

| • |     | The holders of 25% in principal amount of all outstanding notes of the relevant series must make a written                                                                                                                    
 request that the trustee take action because of the Event of Default or Covenant Breach, as the case may be, and must offer reasonable indemnity to the trustee against the cost and other liabilities of taking that action. |

| • |     | The trustee must not have taken action for 60 days after receipt of the above notice and offer of indemnity. |