Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 33

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 33
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 compensation arrangements. THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE APPROVAL OF THE 2024 COMPENSATION OF M&T BANK CORPORATION’S NAMED EXECUTIVE OFFICERS.

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COMPENSATION DISCUSSION AND ANALYSIS Named Executive Officers This Compensation Discussion and Analysis (the “CD&A”) provides information regarding the 2024 compensation of M&T’s Chief Executive Officer (“CEO”), M&T’s Chief Financial Officer (“CFO”) and the three most highly compensated executive officers other than the CEO and CFO (collectively, the “NEOs”). For 2024, our NEOs were the following individuals:

| Name               |     | 2024 Title                                                     |
| René F. Jones      |     | Chairman Chief Executive Officer                               |
| Daryl N. Bible     |     | Senior Executive Vice President Chief Financial Officer        |
| Kevin J. Pearson   |     | Vice Chairman                                                  |
| Christopher E. Kay |     | Senior Executive Vice President & Head of Enterprise Platforms |
| Michael Todaro     |     | Senior Executive Vice President Chief Risk Officer*            |

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#### Overview of M&T Bank CorporationM&T’s vision is focused on long-term sustained performance. We strive to consistently maintain a conservative risk profile and a strong financial position to ensure high levels of service to our customers and communities throughout economic cycles.2024 Financial Performance HighlightsM&T’s results of operations for 2024 reflected a year of strong performance focused on fundamentals as measured by several metrics, including diluted earnings per common share, return on average assets and return on average common shareholders’ equity. On an operating basis, M&T evaluates certain key metrics including diluted net operating earnings per common share, net operating return on average tangible assets and net operating return on average tangible common equity(1). The Company’s performance and financial position reflects a stable customer deposit base, and strong liquidity and capital generation. Specific 2024 performance highlights are noted below(2):•M&T exceeded its Operating Plan for each of the following key metrics: Net operating income, diluted net operating earnings per common share, and net operating returns on average tangible assets and average tangible equity(1);•GAAP-basis net income was $2.59 billion - the second highest level in our company’s history – only behind 2023, which was the highest ever earned at M&T and reflected an improved net interest margin in that year due largely to the rapid rise in interest rates;•Diluted earnings per common share