PitchSend

Investor Presentaiton

21 Average Balance Income Statement Balance Sheet Trends and 2023 Outlook 2022 Actual 2023 Outlook Net Interest Income Taxable Equivalent $5,861 Million +23% to 26% Y/Y Non Interest Income Ex Sec Gain / Loss & MTIA Gain $2,226 Million +5% to 7% Y/Y Operating Expense Ex. Intang. A mort, Merger- Related, & 1x Charitable Net charge-offs % of Avg. Loans $4,521 Million +10% to 12% Y/Y 13 bps 13 bps (FY22) to 33 bps (LT Avg) 4Q22 Actual 1Q23 Feb QTD Int.-Bearing Dep. at $25.1 Billion $24.2 Billion Banks (Cash) Securities Comments - Two 25 bps rate increases in 1Q23 and one 25 bps cut in 4Q23 - Cumulative through the cycle Interest-Bearing deposit beta of high 30% to low 40% - Trust income (including CIT) to be up 8%-10% - Deposit service charges to be up 3%-6% -Total mortgage banking revenues to be up 5%-7% - About half of Y/Y increase driven by additional quarter of People's Includes full year of CIT expenses - Higher than 2022 but near long-term average of 33 bps - Continue to monitor office and healthcare portfolios Comments $25.3 Billion $27.0 Billion - Invested $2.5 billion from long-term debt issuance Total Loans $129.4 Billion $131.5 Billion - Solid C&I growth continues in early 1Q23 - Deposit balances slightly lower Total Deposits $163.5 Billion $161.9 Billion Mix continues to shift to higher cost products M&T Bank Corporation

View entire presentation