Company: MTB-PJ
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001193125-25-257002
Chunk: 48

Company: M&T BANK CORP
Filing Date: 2025-10-30
Form: 424B5
Chunk 48
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ATING TO THE OWNERSHIP AND DISPOSITION OF THE DEPOSITARY SHARES. PROSPECTIVE HOLDERS OF THE DEPOSITARY SHARES SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE TAX CONSEQUENCES TO THEM (INCLUDING THE APPLICATION AND EFFECT OF ANY STATE, LOCAL, FOREIGN INCOME AND OTHER TAX LAWS) OF THE OWNERSHIP AND DISPOSITION OF THE DEPOSITARY SHARES. U.S. Holders The discussion in this section is addressed to a U.S. holder, which for this purpose means a beneficial owner of depositary shares that is, for U.S. federal income tax purposes:

| • |     | an individual citizen or resident of the United States; |

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| • |     | a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created or 
 organized in or under the laws of the United States or of any state thereof or the District of Columbia; |

| • |     | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |

| • |     | a trust if (a) a court within the United States is able to exercise primary supervision over its                                                                                                                          
 administration and one or more U.S. persons have the authority to control all of its substantial decisions or (b) it has a valid election in effect under applicable Treasury regulations to be treated as a U.S. person. |

Distributions You will be taxed on distributions with respect to the depositary shares as dividend income to the extent paid out of our current or accumulated earnings and profits for U.S. federal income tax purposes. To the extent that the amount of a distribution with respect to the depositary shares exceeds our current and accumulated earnings and profits, such distribution will be treated first as a tax-free returnof capital, on a share-by-sharebasis, to the extent of the U.S. holder’s adjusted tax basis in such depositary shares (and will reduce the basis in such depositary shares), and thereafter as capital gain, the tax treatment of which is discussed below under “Sale, Exchange or Certain other Taxable Dispositions.” Distributions with respect to the depositary shares taxable as dividends for U.S. federal income tax purposes paid to a noncorporate U.S. holder will generally represent “qualified dividend income.” Qualified dividend income is taxable at preferential rates applicable to long-term capital gains, provided that certain holding period requirements are met and certain other conditions are satisfied. If you are taxed as a corporation,