KeyCorp Board of Directors Update

Core Insights - KeyCorp announced changes to its Board of Directors, including the nomination of Antonio DeSpirito and Christopher Henson for election at the 2026 Annual Meeting, reflecting a commitment to strong corporate governance and long-term shareholder value creation [1][2] Board Composition Changes - The Board will nominate Antonio "Tony" DeSpirito and Christopher L. "Chris" Henson as directors, following a comprehensive search process to ensure a balance of experience and fresh perspectives [2] - With the addition of DeSpirito and Henson, the Board will have added eight new directors over the past six years [2] Leadership Appointments - Todd Vasos has been appointed as Lead Independent Director, succeeding Alexander M. "Sandy" Cutler, who will remain an independent director [3][4] - Vasos expressed his commitment to providing strong independent oversight and supporting the execution of the Company's strategy [4] Retirements - Carlton Highsmith and Ruth Ann Gillis will retire from the Board effective at the Annual Meeting, with appreciation for their contributions to KeyCorp [5] Board Size and Governance - Following these changes, the size of the Board will remain at 14 directors, with ongoing evaluations to enhance the Board's composition in support of the Company's strategy [5] Background of New Directors - Antonio DeSpirito has extensive experience as a Managing Director at BlackRock, focusing on public markets and long-term value creation [6] - Christopher Henson is a former senior banking executive with significant experience in leading large financial institutions, enhancing the Board's oversight of banking operations and risk management [7] Company Overview - KeyCorp, headquartered in Cleveland, Ohio, is one of the largest bank-based financial services companies in the U.S., with assets of approximately $184 billion as of December 31, 2025 [8] - The company provides a range of financial services, including deposit, lending, cash management, and investment services through approximately 950 branches and 1,200 ATMs [9]