Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 55

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 55
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 KeyCorp common shareholders, divided by weighted-average common shares and potential common shares outstanding. |

| • |     | PPNR (non-GAAP measure): Net interest income (GAAP) plus taxable-equivalent adjustment (non-GAAP) plus noninterest income (GAAP) less noninterest expense (GAAP), all from continuing operations. |

| • |     | Return on Tangible Common Equity (non-GAAP measure): Income from continuing operations attributable to Key common shareholders (GAAP) divided by average KeyCorp shareholders’ equity, less average intangible assets, less average purchased credit card relationships, less average preferred stock. |

| • |     | Net Charge-Offs: Total loans charged off less total loan recoveries, all from continuing operations. |

| • |     | Tangible Common Equity (non-GAAP measure): KeyCorp shareholders’ equity (GAAP) less intangible assets, less purchased credit card relationships, less preferred stock. |

| • |     | Total Shareholder Return: Based on average closing share price over the last 20 trading days in the base year (i.e., for performance shares awarded in 2022, the last 20 trading days of 2021) versus average closing share price in the last 20 days in year three, plus investment of dividends paid during the measurement period. |

Adjusted EPS & Adjusted Cumulative EPS, Adjusted Return on Tangible Common Equity, Cash Efficiency Ratio, and PPNR exclude notable items and other major restructuring charges. Notable items in 2024 included the after-taximpact of $80 million change in loan and lease loss provision, $1.38 billion securities repositioning loss (includes U.S. Treasury loss and forward contract mark), and $97 million other unplanned items. A reconciliation of GAAP to non-GAAPfinancial measures can be found on pages 15 and 16 of our Fourth Quarter 2024 Earnings Release attached as Exhibit 99.1 to Form 8-Kfiled on January 21, 2025, as well as below in “Additional GAAP to Non-GAAPReconciliations.” In its judgment, the Compensation Committee may adjust the performance goals for certain extraordinary items identified by the Compensation Committee to reflect changes in accounting, the regulatory environment, strategic corporate transactions, and other unusual or unplanned events.

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Compensation Discussion and Analysis Additional GAAP to Non-GAAPReconciliations

| Year ended December 31,                                                                                                        
 Dollars in millions