Scotiabank completes $0.8B initial KeyCorp investment; owns 4.9% of common stock

KEYCORP /NEW/

Initial purchase of $0.8B at $17.17/share completed; Scotiabank now holds 4.9% of KeyCorp common.
Total strategic investment of ~$2.8B for 14.9% pro forma ownership, with final $2.0B tranche pending.
Final purchase of ~$2.0B expected to close in Q1 2025, subject to Federal Reserve approval.
Deal announced August 12, 2024; Scotiabank to become a 14.9% shareholder.

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