M&T Bank Corporation announced that as previously announced by Exelon Corporation, Calvin G. Butler, Jr. has been named Exelon's President and Chief Executive Officer, effective December 31, 2022. In order to focus on his new role, Mr. Butler delivered notice to M&T Bank Corporation on December 30, 2022, that he will be stepping down from the M&T Board of Directors effective as of December 31, 2022. Mr. Butler, who joined the M&T Board of Directors in 2020, has been a valued team member and will remain a community partner and friend to M&T.