Bank of Nova Scotia Disposes of 251,736 KeyCorp Shares at $22.02 per Share

Bank of Nova Scotia (Scotiabank) filed a Form 4 disclosing the disposition of 251,736 common shares of KeyCorp (KEY) on April 28, 2026, at a price of $22.02 per share. Following this transaction, Scotiabank's remaining ownership in KeyCorp stands at 159,574,395 common shares. The disposition was executed pursuant to the Investment Agreement between Scotiabank and KeyCorp dated August 12, 2024, which allows Scotiabank to participate on a pro rata basis in any repurchase by KeyCorp of its common shares. Scotiabank is considered a director-by-deputization for Section 16 purposes due to its contractual right to nominate directors to KeyCorp's board under the Investment Agreement. The filing represents a routine transaction under the existing investment agreement rather than a strategic change in ownership position.