M&T Bank

(Dollars in millions)

| Less Than One
Year | | One to Three
Years | | Three to Five
Years | | Over Five
Years | | Total
| Payments due for contractual obligations: | | | | | | | | |
| Time deposits | $ | 12,801 | | | $ | 395 | | | $ | 30 | | | $ | 1 | | | $ | 13,227 |
| Short-term borrowings | 2,149 | | | — | | | — | | | — | | | 2,149 |
| Long-term borrowings | 15 | | | 3,545 | | | 2,214 | | | 5,137 | | | 10,911 |
| Operating leases | 153 | | | 253 | | | 152 | | | 191 | | | 749 |
| Other | 477 | | | 414 | | | 172 | | | 131 | | | 1,194 |
| Total | $ | 15,595 | | | $ | 4,607 | | | $ | 2,568 | | | $ | 5,460 | | | $ | 28,230 |
| Other commitments: | | | | | | | | |

AI models, including generative AI models may produce output or influence the Company or its third-party service providers to take actions that are incorrect, that result in the release of private, confidential or proprietary information, that reflect biases included in the data on which they are trained, that infringe on the intellectual property rights of others, or that are otherwise harmful. In addition, the complexity of certain AI models makes it challenging to understand why they are generating particular outputs. This limited transparency increases the challenges associated with assessing the proper operation of AI models, understanding and monitoring the capabilities of the AI models, reducing erroneous output, eliminating bias and complying with regulations that require documentation or explanation of the basis on which decisions are made. Further, the Company may rely on AI models developed by third parties, and, to that extent, would be dependent in part on the manner in which those third parties develop and train their models, including risks arising from the inclusion of any unauthorized material in the training data for their models, and the effectiveness of the steps these third parties have taken to limit the risks associated with the output of their models, matters over which the Company may have limited visibility. Any of these risks could expose M&T to liability or adverse legal or regulatory consequences and harm its reputation and the public perception of its business or the effectiveness of its security measures.

Actual effects may differ materially due to uncertain, unpredictable factors beyond the Company's control.

Although the Company establishes accruals for legal proceedings when information indicates both that a loss is probable and the amount can be reasonably estimated, it does not have accruals for all legal proceedings where it faces a risk of loss.

Although the Company establishes accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated, the Company does not have accruals for all legal proceedings where it faces a risk of loss. In addition, due to the inherent subjectivity of the

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assessments and unpredictability of the outcome of legal proceedings, amounts accrued may not represent the ultimate loss to the Company from the legal proceedings in question. Thus, the Company’s ultimate losses may be higher, and possibly significantly so, than the amounts accrued for legal loss contingencies, which could adversely affect the Company’s financial condition and results of operations.