The board of directors of M&T Bank Corporation at meeting held on April 19, 2022, the Board updated its committee structure and designated its committee membership, as set below, with such changes effective on April 25, 2022. The Board approved the formation of two new committees, which replace the Nomination, Compensation and Governance Committee (the “NCG Committee”): the Compensation and Human Capital Committee and the Nomination and Governance Committee. These changes were made to allow the Board to enhance the effectiveness of its oversight of many important areas that have continued to grow in significance to M&T but have previously been within the purview of one only committee, the NCG Committee.

The Compensation and Human Capital Committee will provide oversight of executive compensation functions and succession planning, as well as review M&T's human capital strategies and diversity, equity and inclusion efforts, among other responsibilities. The Nomination and Governance Committee will assist the Board in identifying qualified and experienced directors, oversee corporate governance issues and review M&T's Environmental, Social and Governance (ESG) strategies and policies, among other responsibilities. The Board designated the membership of the Board's standing committees as set below.

Each of the Audit Committee, Compensation and Human Capital Committee, Nomination and Governance Committee, and Risk Committee is comprised solely of directors who are independent under the standards established by the New York Stock Exchange and Securities and Exchange Commission (“SEC”) and who meet other qualification requirements applicable to such committees as determined by the Board. Board Committee Membership; Audit Committee: Denis J. Salamone (Chair), William F. Cruger, Jr., T. Jefferson Cunningham III and Herbert L. Washington; Compensation and Human Capital Committee: Gary N. Geisel (Chair), Melinda R. Rich and Herbert L. Washington; Executive Committee: Robert E. Sadler, Jr. (Chair), Robert T. Brady, Gary N. Geisel and René F. Jones; Nomination and Governance Committee: Robert T. Brady (Chair), Calvin G. Butler, Jr. and John R. Scannell; Risk Committee: Robert E. Sadler, Jr.† (Chair), John P. Barnes†, Jane Chwick†, Leslie V. Godridge†and Richard H. Ledgett, Jr.