Bank of Nova Scotia Disposes 176,803 KeyCorp Shares at $23.18 per Share

Bank of Nova Scotia, acting as a director-by-deputization and 10% owner of KeyCorp, disposed of 176,803 common shares of KeyCorp on July 7, 2026, at a price of $23.18 per share. This transaction was executed pursuant to the Investment Agreement dated August 12, 2024, which grants the bank the right to nominate directors to KeyCorp's board and participate pro rata in any repurchase of KeyCorp's common shares. Following the disposition, Bank of Nova Scotia's remaining ownership position in KeyCorp stands at 157,470,114 common shares. The filing indicates the bank may be deemed a director-by-deputization due to its contractual right to nominate directors under the Investment Agreement, highlighting the ongoing strategic relationship between the two financial institutions.