Company: MTB-PJ
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001193125-25-257002
Chunk: 44

Company: M&T BANK CORP
Filing Date: 2025-10-30
Form: 424B5
Chunk 44
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 semi-annually, in arrears, on March 1 and September 1 of each year, beginning on March 1, 2022, and (ii) during the period from
September 1, 2026 through the redemption date of the Series I Preferred Stock, if any (the “Series I Dividend Reset Period”), semi-annually, in arrears, on March 1 and September 1 of each year, beginning on March 1,
2027.

Dividends on the Series I Preferred Stock will accrue from the original issue date at a rate equal to (i) 3.500% per annum for
each dividend period during the Series I Initial Fixed Rate Period and (ii) the five-year U.S. Treasury Rate as of the most recent dividend determination date (as described in the Certificate of Amendment) plus a spread of 2.679% per annum for
each dividend period during the Series I Dividend Reset Period.

Upon the payment of any dividends on the Series I Preferred Stock,
holders of Depositary Shares will receive a related proportionate payment. Dividends on shares of the Series I Preferred Stock will not be cumulative. Dividends on the Series I Preferred Stock will not be declared, paid or set aside for payment to
the extent such act would cause M&T to fail to comply with applicable laws and regulations, including applicable capital adequacy guidelines.

The Series I Preferred Stock is perpetual and has no maturity date. M&T may redeem the Series I Preferred Stock, in whole or in part, from
time to time, on any dividend payment date on or after September 1, 2026, or, in whole but not in part, at any time within 90 days following a regulatory capital treatment event (subject to limitations described in the Certificate of
Amendment), in each case at a redemption price equal to $10,000 per share (equivalent to $1,000 per Depositary Share), together with an amount equal to any dividends that have been declared but not paid prior to the redemption date, without
accumulation of undeclared dividends.

The Series I Preferred Stock has voting rights only with respect to amending M&T’s
certificate of incorporation to authorize or increase stock ranking senior to the Series I Preferred Stock, certain changes in terms of the Series I Preferred Stock, certain dividend non-payments and as
otherwise required by applicable law. Holders of Depositary Shares must act through Computershare Inc., the depositary for