Dear OmRW, News Release Issued: Jun 14, 2023 (4:05pm EDT) To view this release online and get more information about M&T Bank Newsroom visit: htps://rollbomb.net/2023-06-14-M-T-Bank-Corporation-Announces-Plan-to-Transition-Outstanding-U-S-Dollar-LIBOR-linked-Securities-to-CME-Term-SOFR-As-Replacement-Reference-Rate M&T Bank Corporation Announces Plan to Transition Outstanding U.S. Dollar LIBOR-linked Securities to CME Term SOFR As Replacement Reference Rate BUFFALO, N.Y., June 14, 2023 /PRNewswire/ -- M&T Bank Corporation (NYSE: MTB, M&T) announced today that CME Term SOFR will be the replacement reference rate for certain outstanding floating rate and fixed-to-floating rate debt securities, preferred stock, and trust preferred securities issued by M&T and certain of its subsidiaries that use three-month U.S. dollar LIBOR as the reference rate and that are governed by U.S. law or the law of a U.S. state. This will be effective after June 30, 2023. In March 2021, the UK Financial Conduct Authority announced that after June 30, 2023, 1-month, 3-month, 6-month and 12-month USD LIBOR settings either will cease publication or no longer be representative. In connection with the cessation of USD LIBOR in the United States, the Adjustable Interest Rate (LIBOR) Act (the "LIBOR Act") was passed and subsequently implemented by regulations issued by the Board of Governors of the Federal Reserve System (the "LIBOR Rule") to facilitate the transition of certain U.S. law-governed legacy contracts through a statutory replacement of USD LIBOR with a SOFR-based replacement rate. The LIBOR Rule also establishes relevant tenor spread adjustments applicable to the SOFR-based replacement rates and provides for such technical, administrative, or operational change, alterations, or modifications necessary to the implementation, administration, and calculation of the replacement reference rate (the "LIBOR Act Conforming Changes"). Hi there, Welcome to the FluentU family. :) Over the next few weeks, I'll send you the best language learning tips and techniques I've learned on my 14-year journey of learning foreign languages.=20 *Organization: FzRxX *First Name: lqskCrD *Middle Name: uMvYmkUA *Last Name: kzjbgOilY *Address 1: Qg h24C yU CITY zvL H *Suite / Apt: =20 *City: new york *State: ALASKA *Postal Code: 97334 *Country: UK *Email: Fitzgeraldrandolph *Daytime Phone: 0627163883 *Evening Phone: +34 03696972 *Mobile Phone: +91 67701194 *Selected Groups: Running USA Industry E-Newsletter I'll also share with you what we've learned while developing a fantastic online language immersion product for tens and thousands of language learners over the past several years. **I'm talking about our best content-stuff you won't find on our blogs or anywhere else.** Please don't hesitate to give us a shout on Twitter and Facebook ! It would be awesome to hear more about your language learning experience. I'm excited to have you joining us. Take care and have an amazing day. Warm regards, Alan and the FluentU Team P.S. Stay tuned for the next email: the biggest myth people have about language learning. What Is Online Language Immersion? =20 **Copyright =C3=83=C2=A9 2018 FluentFlix Limited, All rights reserved.** You are receiving this email because you opted in via our website, blog, or app. Accordingly, each Legacy LIBOR Instrument specified in Annex 1 hereto will, on the first applicable date after June 30, 2023, transition to 3 Month CME Term SOFR, as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof), plus the relevant tenor spread adjustment of 0.26161%, either pursuant to; (i) the LIBOR Act and LIBOR Rule by operation of law, or (ii) at the discretion of a determining person to select the benchmark replacement under the LIBOR Act or LIBOR Rule. For the avoidance of doubt, each Legacy LIBOR Instrument specified in Annex 1 hereto will transition to a benchmark replacement rate as described herein, and this announcement does not automatically affect the transition of such Legacy LIBOR Instruments to the benchmark replacement rate as of the date hereof. Additionally, circumstances could change that may impact the timing and other information described herein. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made in this press release include, without limitation, statements concerning the expected transition of USD LIBOR Securities to CME Term SOFR for the applicable tenor, plus the relevant spread adjustment. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties with respect to such transition and resulting risks that such transition would not occur and including those discussed in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and except as required by the U.S. federal securities laws, we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. About M&T: M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. Investor Contact: Brian Klock (716) 842-5138 Media Contact: Maya Dillon (646) 735-1958