The “equity value” of the Key shares held by Lauren, Jane and Jeff are based on certain assumptions that management of Key believes are appropriate in the circumstances; however, there can be no certainty that these assumptions will be correct. This example is indicative only and (i) Key management has made certain assumptions regarding the equity value, including an annual appreciation rate of 8% on the real property owned by Key, a rate that is less than the Toronto real estate market’s actual historical performance of an annual average appreciate rate of 13.4% from 2014 through 2018 (Source: Urbanation), (ii) the equity value of Lauren, Jane and Jeff’s Key shares may be more or less than the amount presented depending on a number of other factors that may impact the value of their Key shares, including various operational, market and other matters, and (iii) Lauren invests the money received from her grandmother on her suite so does not pay any tax. As with any equity investment, there are certain risks associated with investing with Key. The value of an investment in Key Shares is not guaranteed to increase, and may rise or fall significantly based on volatility in the real estate market, the general stock market or other economic conditions and the financial results and operating results of Key. The information posted on this website is not an offer to sell or a solicitation to buy any security, nor does it constitute an offer by Key or its affiliates to sell any security in any jurisdiction in which, or to any person to whom, such would not be permitted under applicable law. Any offering of securities of Key will be done pursuant to applicable securities laws and any potential investor in any offering by Key should rely exclusively on the materials provided in connection with such offering and should review the risk factors identified in such offering documentation.

This website includes statements containing “forward-looking information” for purposes of applicable Canadian securities laws (each a “forward-looking statement”). The words “may”, “will”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “objective” and “continue” (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Key strongly cautions readers not to place undue reliance on these statements, as a number of ‎important factors, many of which are beyond Key’s control, could cause the actual results from an investment in Key Shares to differ materially from the beliefs, plans, objectives, expectations, ‎anticipations, estimates and intentions expressed in such forward-looking statements.‎”