M&T Bank Corporation is covered by the following analysts. The reports issued by these institutions represent their opinions, assumptions and analysis. The inclusion of this information is not meant to be an endorsement by M&T Bank Corporation.

Firm Analyst Contact Information
Autonomous Research   Geoff Elliott Phone: (646) 561-6253
gelliott@autonomous.com
Bank of America/Merrill Lynch   Erika Najarian Phone: (646) 855-1584
erika.najarian@baml.com
Barclays Capital   Jason Goldberg Phone: (212) 526-8580
jason.goldberg@barclayscapital.com
Citigroup   Keith Horowitz, CFA Phone: (212) 816-3033
keith.horowitz@citigroup.com
DeutscheBank Securities   Matt O'Connor Phone: (212) 250-8489
matthew.o-connor@db.com
Evercore ISI   John Pancari Phone: (212) 497-0861
john.pancari@evercoreisi.com
Goldman Sachs   Ryan Nash Phone: (212) 902-8963
ryan.nash@gs.com
Jefferies & Co.   Ken Usdin Phone: (212) 284-2444
kusdin@jefferies.com
JP Morgan Securities   Steve Alexopoulos Phone: (212) 622-6041
steven.a.alexopoulos@jpmchase.com
Keefe, Bruyette & Woods, Inc. (KBW)   Brian Klock Phone: (617) 848-2785
bklock@kbw.com
Macquarie Capital   David Konrad Phone: (212) 231-0525
david.konrad@macquarie.com
Morgan Stanley   Ken Zerbe Phone: (212) 761-7417
ken.zerbe@morganstanley.com
Nomura Instinet   Bill Carcache Phone: (212) 298-4117
bill.carcache@instinet.com
Piper Jaffrey   Kevin Barker Phone: 215-446-9318
kevin.j.barker@pjc.com
RBC Capital Markets   Gerard Cassidy Phone: (207) 780-1554
gerard.cassidy@rbccm.com
Rafferty Capital   Richard Bove Phone: (813) 388-2900
BoveR@raffcap.com
Robert W Baird   David George Phone: (314) 863-4324
dgeorge@rwbaird.com
Sandler O'Neill & Partners, L.P.   Frank Schiraldi Phone: (212) 466-7931
fschiraldi@sandleroneill.com
Sanford C. Bernstein   Kevin St. Pierre Phone: (212) 756-1962
kevin.st-pierre@bernstein.com
UBS   David Eads Phone: (212) 713-3630
david.eads@ubs.com
Vining Sparks   Marty Mosby Phone: (662) 463-9595
marty.mosby@viningsparks.com
Wedbush Securities   Peter Winter Phone: (212) 938-9942
Peter.Winter@wedbush.com