BancAnalyst Association of Boston November 7, 2003 Jack L. Kopnisky President Key Consumer Bank

1. BancAnalyst Association of Boston November 7, 2003 Jack L. Kopnisky President Key Consumer Bank Michael Orsino National Sales Manager Retail Banking, KeyCorp

2. PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 FORWARD-LOOKING STATEMENT DISCLOSURE The presentation and discussion, including related questions and answers, and presentation materials, contain forward-looking statements about issues like anticipated fourth quarter and full-year 2003 earnings, anticipated level of net loan charge-offs and nonperforming assets and anticipated improvement in profitability and competitiveness. Forward-looking statements by their nature are subject to assumptions, risks and uncertainties. Actual results could differ materially from those contained in or implied by such forward-looking statements for a variety of factors including: changes in interest rates; continued weakness in the economy, which could materially impact credit quality trends and the ability to generate loans; failure of the capital markets to function consistent with customary levels; delay in or inability to execute strategic initiatives designed to grow revenues and/or manage expenses; consummation of significant business combinations or divestitures; new legal obligations or restrictions or unfavorable resolution of litigation; further disruption in the economy or the general business climate as a result of terrorist activities or military actions; and changes in accounting, tax or regulatory practices or requirements.

3. 1 Net Income by Line of Business Net Income - 3Q03 • Corporate Banking • KeyBank Real Estate Capital • Key Equipment Finance Investment Management Services Corporate & Investment Banking40% 10% Consumer Banking50% • Retail Banking • Small Business • Consumer Finance

4. 2 Consumer Banking Retail Banking Small Business Consumer Finance Business Scale 900 KeyCenters - 2,200 ATMs On-line Clients: 722,000 (37% Penetration) Small Business: 10th largest in loan balances Business Initiatives • Deposit growth • Increase cross-sell • New client acquisition • Adding new KeyCenters and RMs • Consumer Finance: reposition and improve cross-sell • Business Banking: focus on business development

5. 3 Consumer Bank Financial Performance Financial Performance ($ millions) % Growth Q3’03 vs. Q3’02 Q3’03 Q2’03 Q3’02 Revenue Provision for Loan Losses Expenses (Incl Ovhd) Net Income Loans Deposits Transaction MM/Savings CD’s 580,997 576,864 6.8% 616,102 64,754 70,171 -0.4% 69,857 353,093 336,343 5.4% 354,578 101,969 106,605 12.4% 119,791 28,874 28,243 3.0% 29,100 34,780 33,580 4.2% 34,999 9,902 9,054 14.5% 10,367 10,697 8,949 21.9% 10,913 14,182 15,577 -11.9% 13,719

6. 4 Progress on Relationship Development Relationship Development and Client Acquisition % Q3’03 Q2’03 Q3’02 Checking Balances ($ in Millions) Retail Banking Business Banking Net New Checking Accounts Retail Banking Business Banking MM/Savings Balances ($ in Millions) Retail Banking Business Banking Home Equity Balances ($ in Millions) Retail Banking Net New Clients Retail Banking Business Banking Accounts per Customer Retail Banking Business Banking 13% $6,707 $6,074 $6,871 17.5% $2,865 $2,652 $3,116 NM 10,071 (9,336) 30,174 57% (556) (738) (469) 21% $9,531 $8,029 $9,687 33% $1,160 $916 $1,217 14% $7,614 $6,956 $7,900 3,480 (16,047) 10,766 NM 26% 1,103 820 1,030 2% 3.03 3.00 3.05 7% 2.84 2.70 2.88

7. 5 Key’s Relationship Approach Foundation Elements Distinctive Elements Future State Geography Unique Client Experience Client Knowledge Segmentation = + Channels Service & Advice Consistent Shareholder Return Products Multiple Solutions Human Capital

8. 6 Key’s Relationship Approach Foundation Elements Geography Segmentation Channels Products Human Capital

9. 7 Key’s Relationship Approach Geography Foundation Elements • Market Share Objective: Top 4 Market Share Position • Retail Infrastructure Investments 2000-2005 - $162 Million • Acquisition Strategy Market Share • Measures of Success • Market Share Growth • Market Earnings Growth

10. 8 Key’s Relationship Approach Segmentation Foundation Elements • Profit Tier Segmentation • Movement to Life Stage Segmentation Customers Profitability/Customers June 1998 Dec 1999 Dec 2000 Dec 2001 Dec 2002 Sept 2003 June 1998 Dec 1999 Dec 2000 Dec 2001 Dec 2002 Sept 2003 P1 P2 P3 $394 $458 $532 $618 $679 $727 P4 P5 ($121) ($104) ($111) ($143) ($133) ($129) • Measures of Success • Profitability/Client • Profitability/Segment • Net Client Growth

11. 9 Key’s Relationship Approach Channels Foundation Elements • Client Choice of Channel • Key Centers / McDonald Offices • ATM • Call Center • Key.com Client Satisfaction Current Scale The scale is 1-10: 1 = Very Dissatisfied 10 = Very Satisfied • Measures of Success • Productivity • Service Levels • Client Satisfaction

12. 10 Key’s Relationship Approach Products Foundation Elements • Broad Product Solutions for Consumers and Institutions • Loan, Deposit, Investments, Fee-Based Services • Relationship Pricing and Packaging 48% Increase this year New DDA Account Opening • Measures of Success • Profitable Balance & Fee Growth • Product Economic Value Added (EPA)

13. 11 Key’s Relationship Approach Human Capital Foundation Elements • Competency-Based Hiring • Significant, Continuous Learning and Training Environment • Differentiating for High Performance • Meritocracy Retail Turnover Ratio -- Financial Objectives -- Behavior Expectations -- EPA Driven Rewards • Measures of Success • Employee Satisfaction • Retention/Turnover • Diversity

14. 12 Key’s Relationship Approach Foundation Elements Distinctive Elements Geography Client Knowledge Segmentation + Channels Service & Advice Products Multiple Solutions Human Capital

15. 13 Key’s Relationship Approach Client Knowledge Distinctive Elements 22% Increase During 3rd Quarter • Investments in Enterprise • Turn Data to Actionable Information • CRM System Retail Profit Production 3Q’02 3Q’03 • Measures of Success • Sales Productivity • Conversion Metrics

16. 14 Key’s Relationship Approach Service & Advice Distinctive Elements • Defined Service Behaviors • Relentless Consistency • Proactive Advice Annualized Attrition/Acquisition Grows • Measures of Success • Client Acquisition/Attrition • Client Satisfaction

17. 15 Key’s Relationship Approach Multiple Solutions Distinctive Elements • Aggressive, Results Oriented • Proactively Acquire Major Share of Wallet Cross Sell Ratio • Measures of Success • Defined Sales Activities • Cross Sell Ratio • Share of Wallet

18. 16 Key’s Relationship Approach Foundation Elements Distinctive Elements Future State Geography Unique Client Experience Client Knowledge Segmentation = + Channels Service & Advice Consistent Shareholder Return Products Multiple Solutions Human Capital

19. 17 Key’s Relationship Approach Future State • Consistent & Distinctive Service Experience • Aggressive, Unrelenting Sales Culture • Consumer Banking Growth Supporting Consistent Shareholder Returns • 3-5% Revenue Growth • 10%+ Earnings Growth • ROE 21%+

20. BancAnalyst Association of Boston November 7, 2003 Michael Orsino National Sales Manager Retail Banking, KeyCorp

21. 18 Retain Expand Acquire • Relentless Accountability - Daily reports • Leaner more efficient structure • More one-on-one coaching • Retain/Recruit High Performers

22. 19 KeyCorp Central New York Results DDA Growth 5X Bank Avg. Loan Growth 2.9X Bank Avg. 12% Net Income Growth

23. Question & Answer Session Jack L. Kopnisky President Key Consumer Bank Michael Orsino National Sales Manager Retail Banking, KeyCorp