KeyCorp 216 EuroWeek Financing financial institutions KeyCorp Subordinated debt Senior unsecured Securitisation - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 2005 2006 2007 2008 2009 2010 Source: Dealogic. Data to August 20 2010 $m Debt issuance % Source: KeyBank 0 2 4 6 8 10 12 14 16 18 20 2Q09 3Q09 4Q09 1Q10 2Q10 Tier one Total capital Debt issuance capital ratios pricing date: August 10, 2010 Value: $750m Maturity date: August 13, 2015 coupon: 3.75% spread to benchmark: 225bp over USTs bookrunners: JPMorgan, KeyBanc Capital Markets, Morgan Stanley Guarantor: Federal Deposit Insurance Corp pricing date: March 10, 2009 Value: $437.5m Maturity date: April 16, 2012 coupon: 1m Libor +43bp bookrunners: Credit Suisse, JPMorgan Guarantor: Federal Deposit Insurance Corp pricing date: December 10, 2008 Value: $250m Maturity date: December 15, 2010 coupon: 3m Libor +65bp bookrunners: KeyBanc Capital Markets, Credit Suisse, Morgan Stanley, UBS Source: Dealogic rank lead Manager amount $m no of issues % share 1 Morgan Stanley 250 1 33.33 1 KeyBanc Capital Markets 250 1 33.33 1 JPMorgan 250 1 33.33 subtotal 749 1 100 total 749 1 100 Source: Dealogic (Sep 20, 2009 to Sep 19, 2010) recent Deals - 500 1,000 1,500 2,000 2,500 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021-2040 2041+ Source: Dealogic. Data to September 1, 2010 (securitisations not included) $m Maturity profile top bookrunners Director, investor relations Vern Patterson +1 216 689 0520 [email protected] key contacts keycorp long term iDr a- (negative outlook) short term iDr f1 individual rating c support rating 5 support rating floor no floor summary: KEY’s long-term issuer default rating of A- incorporates the strength of its regionally diverse franchise, with a presence in the north-east, north-west/Rocky Mountains and Great Lakes, improved capital levels and solid funding profile. Fitch currently has a negative outlook on the bank, reflecting expected asset quality deterioration over the cycle both in terms of problem assets and loan losses. KEY has taken steps to reduce its risk profile, but the company has not been immune to adverse impacts to operating results. The company’s exit portfolio has contributed an outsized portion of non-performing assets and net charge-offs. KEY has been aggressive in dealing with these portfolios, which include the homebuilder, national home equity and the other consumer books. Asset quality deterioration has spread to other portions of the loan portfolio necessitating continued elevated loan loss provisioning and hampering the company’s return to profitability. With $98bn in assets, KEY operates nearly 1,000 branches in 14 diverse states in three regions. KEY also operates some business lines nationally. fitch ratinGs upDate