KEY: Other company developments

Item 8.01 Other Events. KeyCorp (the “Company”) is filing this Current Report on Form 8-K (“Form 8-K”) solely to recast certain segment financial information and related disclosures included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, originally filed with the Securities and Exchange Commission (the “SEC”) on February 23, 2026 (the “2025 Form 10-K”). The recast information reflects a change in segment reporting implemented during the first quarter of 2026, as described below and in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2026, filed with the SEC on May 5, 2026 (the “1Q 2026 Form 10-Q”). The information in this Form 8-K is not an amendment or restatement of the 2025 Form 10-K. Effective January 1, 2026, the Company revised its segment reporting presentation to reflect the residual impact of centrally managed interest rate risk within the Other segment. Previously, these amounts were included in net interest income for the Consumer Bank and Commercial Bank segments. This change aligns the Company’s segment reporting with how management evaluates performance and manages interest rate risk on a centralized basis and affects only the presentation of segment results. Prior period segment results have been recast to conform to this presentation, and there was no impact on the Company’s consolidated financial statements for any period presented. There were also updates to certain noninterest income line items presented in Notes 23 and 25 to the consolidated financial statements to align with the Company’s established methodologies for allocating items among its operating segments. These allocation methodologies are dynamic and may be periodically refined to enhance alignment of expense base drivers, reflec