Investor Presentaiton

6 9% 8% 7% 6% 5% 4% 2% ៖៖៖៖ 1% 0% 3% 5.0% 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 2003 M&T's Business Model - Net Interest Margin 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 PPNR/RWA 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q22 2Q22 2020 2021 1Q22 2Q22 90% 4Q 2022 MTB 4.06% Peer Max 3.99% 80% Peer Median 3.34% Peer Min 2.83% 70% 3Q22 4Q22 4.5% 4Q 2022 Peer Max 3.12% 4.0% MTB 2.97% 3.5% Peer Median 2.31% Peer Min 1.80% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% MTB Peer Median Note: All earnings annualized and operating except for PPNR. ROTCE, efficiency, and PPNR are non-GAAP measures and are reconciled in the appendix. Source: S&P Global Market Intelligence and company filings 3Q22 4Q22 Focus on Four Key Performance Indicators Operating Efficiency Ratio 40% 60% 50% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 NCO / Average Loans 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019 2020 2021 1Q22 4Q 2022 Peer Min (0.03%) MTB 0.12% Peer Median 0.22% Peer Max 2020 2021 1Q22 2Q22 3Q22 4Q22 M&T Bank Corporation 0.63% 2Q22 3Q22 4Q 2022 Peer Min 49.9% Peer Median 53.2% MTB 53.3% Peer Max 60.7% 4Q22

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