Company: MTB-PJ
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001193125-25-257002
Chunk: 49

Company: M&T BANK CORP
Filing Date: 2025-10-30
Form: 424B5
Chunk 49
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 distributions with respect to the depositary shares treated as dividends for U.S. federal income tax purposes will generally be eligible for the dividends received deduction, which is generally 50%. The dividends received deduction, however, will not be fully or partially available in certain circumstances, including (but not limited to) cases in which holding period requirements are not met or if the depositary shares are treated as financed with indebtedness. Prospective corporate investors in depositary shares should consult their tax advisors regarding the holding period and other requirements that must be satisfied in order to qualify for the dividends-received deduction and with respect to the possible application of the extraordinary dividend provisions of the U.S. federal income tax law to their ownership or disposition of the depositary shares in their particular circumstances. Sale, Exchange or Certain other Taxable Dispositions A U.S. holder will generally recognize capital gain or loss on a sale or exchange of the depositary shares in an amount equal to the difference between the amount realized upon the sale or exchange and such U.S. holder’s adjusted tax basis in the shares sold or exchanged (other than certain redemptions described under “U.S. Holders—Redemptions”). Capital gain of a non-corporate U.S.holder is generally taxed at preferential rates where the holder has a holding period of more than one year. The deductibility of capital losses is subject to significant limitations. Redemptions If we redeem your depositary shares, you will be treated as if you had sold your depositary shares if the redemption:

| • |     | results in a complete termination of your stock interest in us; |

| • |     | is not essentially equivalent to a dividend with respect to you; or |

| • |     | is a redemption of stock held by a shareholder who is not a corporation and results in a partial liquidation of 
 us.                                                                                                             |

S-31

In determining whether any of these tests has been met, depositary shares and shares of other classes and series of our capital stock and any options (including stock purchase rights) to acquire any of the foregoing owned by you must be taken into account, as well as stock considered to be owned by you by reason of certain constructive ownership rules set forth in Section 318 of the Code. If we redeem your depositary shares in a redemption that meets one of the tests described above, you generally would recognize taxable gain or loss equal to the sum of the amount of cash and fair market value of property (other than stock of us or a successor to us