CONSUMER DEPOSIT ACCOUNT TERMS AND CONDITIONS

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1 CONSUMER DEPOSIT ACCOUNT TERMS AND CONDITIONS WELCOME TO M&T A GUIDE TO THE TERMS OF YOUR PERSONAL DEPOSIT ACCOUNTS On November 1, 2015, Hudson City Savings Bank ( HCSB ) merged into and became part of M&T Bank ( M&T ). As a result, your Hudson City deposit accounts became M&T accounts. Soon, we will be transferring those accounts and any accounts opened at our Hudson City division * onto M&T s computer systems. We sometimes refer to the date on which this transfer takes place as the conversion date. The exact conversion date is set forth in the cover letter accompanying this booklet. This booklet includes information about the names and features of your Hudson City deposit accounts after the conversion. Please note that provisions that apply only to new customers or only to newly opened accounts will not apply to converted accounts. The features and terms of your deposit accounts as described in this booklet do not necessarily reflect the standard features and terms of M&T deposit accounts. This means that any deposit account that you may open with M&T before, on, or after the conversion date may have features and terms that are different from those that will apply to your converted Hudson City deposit accounts. If you have questions, we re here to assist you. Just call us at Monday-Friday, 6:00 a.m. 9:00 p.m. ET Saturday-Sunday, 9:00 a.m. 5:00 p.m. ET Or visit us any time at *The Hudson City division refers to the former HCSB locations, which were acquired by M&T in the merger. We also refer to the accounts opened at HCSB before the merger and the accounts opened through our Hudson City division after the merger collectively as Hudson City accounts or Hudson City deposit accounts and we use the term Hudson City to refer to the processing and systems for those accounts prior to the conversion. THE GENERAL DEPOSIT ACCOUNT AGREEMENT AND RETIREMENT ACCOUNT AGREEMENTS IN THIS BOOKLET (BEGINNING ON PAGES 25, 42, 46, 50 AND 53) EACH INCLUDE AN ARBITRATION PROVISION IN THE SECTION ENTITLED DISPUTES INVOLVING YOUR ACCOUNT. YOU MAY REJECT THE ARBITRATION PROVISION AS DESCRIBED IN THOSE SECTIONS OF THE AGREEMENTS.

2 TABLE OF CONTENTS SECTION I Personal Deposit Accounts Personal Checking Accounts Q&A...3 Conversion Chart...4 Specific Features and Terms MyChoice Premium Checking...5 MyChoice Plus Checking With Interest...5 Free Checking...6 Basic Banking...7 Personal Savings and Money Market Accounts Q&A...8 Conversion Chart...9 Specific Features and Terms MyChoice Money Market...9 Relationship Savings...10 Certificate of Deposit and Club Accounts Q&A...12 Conversion Chart...12 Specific Features and Terms Automatically Renewable Regular Time Deposit...13 Automatically Renewable Holiday Club Account...13 Automatically Renewable Savings Club Account...14 Fees Q&A...15 Additional Fees for Consumer Checking Accounts...15 Additional Fees for Consumer Savings Accounts...15 Fees for Special Services...15 Electronic Banking Card and Telephone Transaction Disclosure and Agreement...16 Fees for Use of Electronic Banking Card...17 Additional Disclosures and Agreements for Personal Deposit Accounts Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items...19 What You Need to Know about Overdrafts and Overdraft Fees...22 Availability Disclosure for Consumer Deposit Accounts...23 Consumer Checking Account Custom Add-on Features...24 General Deposit Account Agreement...25 SECTION II Retirement Accounts (IRA, Roth IRA, SEP IRA, SIMPLE IRA and Qualified Plan Accounts) General Information for All Types of Retirement Accounts...40 Distributions and Transfers...40 Retirement Certificates of Deposit Q&A...40 Conversion Chart...41 Automatically Renewable Individual Retirement Account Agreement...42 Automatically Renewable Retirement Account Agreement...46 Retirement Money Market Accounts Q&A...41 Conversion Chart...41 M&T Market Advantage Individual Retirement Account Agreement...50 M&T Market Advantage Retirement Account Agreement...53 Disclosure Required by Automated Clearing House Rules R

3 SECTION I Personal Deposit Accounts PERSONAL CHECKING ACCOUNTS: Here are answers to some questions you may have about your personal checking account after the conversion. Q. What will happen to my checking account on the conversion date? A. Your checking account will be automatically moved onto M&T systems. Q. What type of account will I have after the conversion? A. We reviewed the terms of each type of Hudson City account and selected an M&T account that we believe is similar. The results are shown in the chart on the next page. Your Hudson City account will automatically become the type of account indicated in the chart, but we would be happy to discuss account options with you after the conversion. Simply stop by any branch or call us. Q. Is there information that I should know about interest-bearing checking accounts at M&T? A. Yes. Here are some important facts about interest-bearing checking accounts at M&T. Please be sure to read this entire booklet for complete information. As was true at Hudson City, interest rates on checking accounts are variable, may change daily, are not tied to any index, and are set by us at our discretion. The interest rate and annual percentage yield have not been determined yet. Please call after conversion to find out the interest rate and annual percentage yield applicable to your account. Minimum balance to earn interest is $1, and is a collected balance that must be maintained as of the end of any day to earn interest for that day. Interest rates are tiered, meaning that different interest rates may apply to different balances. The ranges of the tiers may be different from the interest rate tiers at Hudson City (see the applicable Specific Features and Terms for your account type set forth later in this booklet). From time to time, the interest rates payable for different balance tiers may be the same. If your balance falls within a particular tier, M&T will pay the interest rate corresponding to that tier on the entire balance available to earn interest in your account. Interest is calculated using the daily balance method, under which we apply 1/365 of the interest rate for that day to the balance available to earn interest as of the end of that day. Interest begins to accrue on noncash items (e.g., checks) deposited into your account on the business day we receive credit for the item. Interest rates paid on checking accounts will be based on M&T s rates or, if an account paid a promotional rate for a designated period of time, this rate will continue until the expiration of that period. Q. Will my transactions in my account be posted in the same way they are today? A. No. M&T will post transactions in your account after conversion in a different order than Hudson City did. Please see the Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items later in this booklet for more information. Q. What will happen if I do not have enough available funds in my M&T account to cover transactions I initiate? A. Certain processes relating to insufficient funds and overdrafts work differently at M&T than at Hudson City. In its discretion, M&T may pay transactions you make from your account even though you do not have enough available funds in the account to cover them. Generally, unless an exception applies, an overdraft fee will apply if we pay a transaction when you do not have enough available funds in your account to cover it. We also charge an insufficient funds fee if you attempt to make an ACH or check transaction that exceeds your available balance and we decline to pay that transaction. Note that M&T determines whether you have enough money to cover a transaction based upon your available balance as determined under our Availability Disclosure for Consumer Deposit Accounts (set forth later in this booklet). This means that funds you have deposited but which have not yet been made available for withdrawal are not included when we determine whether you have sufficient funds to pay for a transaction. For more information on how we process transactions, NSF and overdraft fees, and exceptions, please see the Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items, What You Need to Know about Overdrafts and Overdraft Fees and the General Deposit Account Agreement later in this booklet. Q. Will the insufficient funds (NSF) and overdraft fees and practices for checking accounts at M&T after conversion be the same as they were at Hudson City? A. No. M&T s NSF and overdraft fees and practices differ in some ways from those at Hudson City. NSF: M&T charges a $38.50 NSF fee if you do not have enough available funds in your checking account to pay for a check or ACH transaction and we return the check or ACH transaction unpaid unless (a) the amount of the check or ACH is less than $5, or (b) your account has already been charged a total of 5 NSF and overdraft fees for items processed for payment on that business day. Overdraft: M&T charges a $38.50 overdraft fee if we decide to pay a transaction when you do not have enough available funds in your checking account to pay that transaction unless one of the following exceptions applies: (a) the amount of the transaction is less than $5; (b) your account has already been charged a total of 5 NSF and overdraft fees for items processed for payment on that business day; (c) money is paid under the terms of an overdraft protection arrangement (e.g., linked line of credit), or (d) the overdraft results from an ATM or one-time debit card transaction from your checking account and you have not elected to allow us to authorize and pay these types of transactions when you do not have sufficient funds to pay for them (see the What You Need to Know about Overdrafts and Overdraft Fees later in this booklet). Extended Overdraft Fee: M&T also charges a $38.50 extended overdraft fee if your account becomes overdrawn and remains overdrawn for five consecutive business days. For more information about these fees, please see the Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items, What You Need to Know about Overdrafts and Overdraft Fees, General Deposit Account Agreement and information on Fees later in this booklet. Q. If I have overdraft protection for my checking account at Hudson City, will it continue after conversion? A. If your Hudson City checking account is linked to a Hudson City line of credit for overdraft protection, these accounts will continue to be linked for purposes of overdraft protection. Q. What are Custom Add-ons? A. M&T offers Custom Add-ons to its checking account customers. Custom Addons are optional features and services that a checking account customer may choose to use. Generally, a monthly subscription fee will apply for each Custom Add-on selected; however, certain M&T checking accounts include a certain number of Custom Add-ons for no monthly subscription fee. The following chart indicates whether your new M&T account includes any complementary Custom Add-ons. Please see the Consumer Checking Account Custom Add- On Features beginning on page 24 of this booklet for more information. Q. What documents will govern my checking account after the conversion? A. After the conversion, the governing documents of your account will include the following documents: General Deposit Account Agreement (beginning on page 25 of this booklet) Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items (beginning on page 19 of this booklet) What You Need to Know about Overdrafts and Overdraft Fees (on page 22 of this booklet) Availability Disclosure for Consumer Deposit Accounts (on page 23 of this booklet) Specific Features and Terms for the specific type of account you will have at M&T (beginning on page 5 of this booklet) Additional Fees for Consumer Checking Accounts (see page 15 of this booklet) Fees for Special Services (see page 15 of this booklet) Electronic Banking Card and Telephone Transaction Disclosure and Agreement (beginning on page 16 of this booklet) These documents will apply to your account as though you had signed a deposit account opening document for that account. IMPORTANT: Many of the terms of these documents differ from the terms of the documents that govern your Hudson City account today. These differences may be important to you, so we encourage you to review all of the information in this booklet carefully and to contact us with any questions. CHECKING These Q&As are provided as a convenience and summarize certain important information, but they do not include all information. Please be sure to review the full text of the disclosures and agreements in this booklet for complete information and contact us with any questions. 3 R

4 CHECKING IF THIS IS YOUR ACCOUNT PRIOR TO CONVERSION* High Value Checking THIS WILL BE YOUR ACCOUNT AFTER CONVERSION MyChoice Premium Checking** INFORMATION ABOUT MONTHLY MAINTENANCE CHARGES $24.95 monthly maintenance charge for each monthly service charge cycle unless you: Keep an average daily balance of $7,500 or more throughout your monthly service charge cycle, OR Keep total combined balances of $25,000 or more in eligible personal deposit accounts, loans and home equity outstanding balances, investments and business deposit accounts This monthly maintenance charge will be waived for the first 3 service charge cycles after the conversion even if you do not meet the above requirements OTHER IMPORTANT INFORMATION ABOUT YOUR ACCOUNT Includes four Custom Add-ons with no monthly subscription fee We will automatically enroll you in the four Custom Add-ons known as: No M&T Fee at Other Banks ATMs Refund of Other Banks ATM Fee No Fee for Overdraft Protection Transfers Standard Checks & Safe Deposit Box If you would like to change these Custom Add-ons, please contact us for a limited time following the conversion See the Consumer Checking Account Custom Add-on Features on page 24 of this booklet for more information WILL MY ACCOUNT EARN INTEREST? Yes New interest rate tiers apply Super NOW; or Better Interest Banking MyChoice Plus Checking With Interest** $14.95 monthly maintenance charge for each monthly service charge cycle unless you: Keep an average daily balance of $2,500 or more throughout your monthly service charge cycle, OR Make direct deposits totaling $2,000 or more during the monthly service charge cycle, OR Have your account and related M&T ATM Card or M&T Debit Card linked to an M&T Banking Built for Business Suite, OR Are an employee of M&T and have your pay deposited directly to the account This monthly maintenance charge will be waived for the first 3 service charge cycles after the conversion even if you do not meet the above requirements Includes two Custom Add-ons with no monthly subscription fee We will automatically enroll you in the two Custom Add-ons known as: No M&T Fee at Other Banks ATMs Refund of Other Banks ATM Fee If you would like to change these Custom Add-ons, please contact us for a limited time following the conversion See the Consumer Checking Account Custom Add-on Features on page 24 of this booklet for more information Yes New interest rate tiers apply Free Personal Checking; Estate Checking; or Employee Checking Free Checking** No minimum balance requirement No monthly maintenance charge You will receive images of the fronts of your paid checks with your statements at no charge. If you choose to receive images of the fronts and backs of your paid checks instead, there will be a charge of $5 per month Unlike Hudson City, M&T does not provide free check orders to customers with Free Checking accounts. However, if your account number is changing, we will send you an initial order of replacement checks at no charge M&T s fees for using non-m&t ATMs to access your account will be waived for 3 months after the conversion Please see the Consumer Checking Account Custom Add-on Features later in this booklet for information on pricing and availability of Custom Add-ons for your account No NJ Consumer Checking Basic Banking** $3 monthly maintenance charge This monthly maintenance charge will be waived for the first 3 service charge cycles after the conversion You will receive images of the fronts of your paid checks with your statements at no charge. If you choose to receive images of the fronts and backs of your paid checks instead, there will be a charge of $5 per month At M&T, Basic Banking qualifies as a basic banking account under New York law and as a New Jersey Consumer Checking Account under New Jersey law M&T s fees for using non-m&t ATMs to access your account will be waived for 3 months after the conversion Please see the Consumer Checking Account Custom Add-on Features later in this booklet for information on pricing and availability of Custom Add-ons for your account No Money Market Checking MyChoice Money Market** (See page 9 ) See chart for savings and money market accounts Account will not be a checking account. See chart for savings and money market accounts See chart for savings and money market accounts This chart is provided as a convenience and summarizes certain important information, but it does not include all information. Please be sure to review the full text of the disclosures and agreements in this booklet for complete information and contact us with any questions. *If you are an employee of M&T Bank or its affiliates and have your pay direct deposited into a checking account with the bank, then your account at M&T will be a MyChoice Plus Checking With Interest account. **Certain transaction and service fees, including insufficient funds and overdraft fees, apply to these accounts. For more specific information about fees, please see the applicable fee schedule in this booklet. 4 R

5 SPECIFIC FEATURES AND TERMS (Consumer Checking Accounts) MYCHOICE PREMIUM CHECKING KIND OF ACCOUNT Interest-bearing Checking Account MINIMUM OPENING DEPOSIT None RATE INFORMATION Interest rate may change daily, is not tied to any index and is set at our discretion. Annual percentage yield* may change daily. Interest for any day will be paid on the entire balance available to earn interest on that day at the interest rate and annual percentage yield corresponding to the highest of the following interest rate tiers applicable to your account on that day: At least $1 but less than $2,500 At least $2,500 but less than $10,000 At least $10,000 but less than $25,000 At least $25,000 but less than $50,000 At least $50,000 but less than $100,000 At least $100,000 but less than $150,000 At least $150,000 but less than $250,000 At least $250,000 but less than $500,000 At least $500,000 but less than $1,000,000 At least $1,000,000 *The annual percentage yield is a hypothetical rate that assumes that the interest rate will not change although in fact it may change daily. ACCRUAL OF INTEREST ON NONCASH DEPOSITS Interest begins to accrue on a noncash item (for example, a check) deposited in the account on the business day we receive credit for the item. FREQUENCY OF COMPOUNDING AND CREDITING OF INTEREST Interest is compounded daily and credited to the account at the end of the last day of each monthly interest payment cycle, and on the date the account is closed. COMPUTATION OF INTEREST (BALANCE COMPUTATION METHOD) Interest is computed each day using the daily balance method, under which we apply 1/365 of the interest rate for that day to the balance available to earn interest as of the end of that day. SERVICE FEES $24.95 monthly maintenance charge for each monthly service charge cycle for the MyChoice Premium Checking account unless either: 1. the average daily balance maintained in the account for that monthly service charge cycle is at least $7,500, or 2. the sum of (a) the average daily balance of the account calculated for that monthly service charge cycle and (b) the sum of the average daily balances of all statement savings, money market and checking accounts linked to the account calculated for the period beginning on the first day of each such linked account s monthly service charge cycle and ending on the day before the last day of this account s monthly service charge cycle and (c) the sum of the average daily balances of all passbook savings accounts linked to the account calculated for the period beginning on the first day of each such linked account s interest payment cycle and ending on the day before the last day of this account s monthly service charge cycle and (d) the sum of the current balances of all club accounts, certificates of deposit, and individual retirement accounts linked to the account calculated as of the end of the day before the last day of this account s monthly service charge cycle and (e) the sum of the balances of all loans linked to the account, calculated as of the beginning of the first business day of the calendar month immediately preceding the calendar month in which the last day of this account s monthly service charge cycle occurs and (f) the sum of the balances of all non-deposit investments linked to the account calculated as of the beginning of the first business day of the calendar month immediately preceding the calendar month in which the last day of this account s monthly service charge cycle occurs is at least $25,000. Average daily balances are calculated by adding the balance in an account for each day of the prescribed period and dividing that figure by the number of days in such period. For additional fees that apply to checking accounts and special services, see the Fees section on page 15. For fees that apply to electronic banking card use, see page 17. MONTHLY INTEREST PAYMENT CYCLE AND MONTHLY SERVICE CHARGE CYCLE In general, the beginning and ending dates of each monthly interest payment cycle and each monthly service charge cycle depend upon the account opening date and will cover a period of not less than 28 days nor more than 31 days, with the first monthly interest payment cycle and monthly service charge cycle generally beginning on the date of account opening and each monthly interest payment cycle and monthly service charge cycle thereafter beginning on the date next following the ending date of the previous monthly interest payment cycle and monthly service charge cycle. STATEMENT PERIOD Monthly cycle MINIMUM BALANCE TO EARN INTEREST AND OBTAIN ANNUAL PERCENTAGE YIELD 1. The balance available to earn interest minus all interest earned on money in the account but not yet credited to the account must be at least $1 as of the end of any day to earn interest that day. 2. See section entitled Rate Information for minimum balance required to obtain the annual percentage yield applicable to each interest rate tier. BALANCE As of any time during any day will consist of: 1. All money previously deposited in and credited to the account but not yet withdrawn from and charged against the account plus 2. All interest credited to the account before that day but not yet withdrawn from and charged against the account. BALANCE AVAILABLE TO EARN INTEREST As of any time during any day will consist of: 1. The balance as of that time plus 2. All interest earned on money in the account before that day but not yet credited to the account minus 3. All noncash items (for example, checks) that were deposited in the account and for which we have not yet received credit. BALANCE AVAILABLE FOR WITHDRAWAL As of any time during any day will consist of the funds available for withdrawal in accordance with the Availability Disclosure for Consumer Deposit Accounts. METHOD OF PAYMENT OF INTEREST As requested: 1. By crediting the account or 2. By crediting the account followed immediately by transfer to a Checking or Savings account with us. ACCESS AT ELECTRONIC FACILITIES Yes MYCHOICE PLUS CHECKING WITH INTEREST KIND OF ACCOUNT Interest-bearing Checking Account MINIMUM OPENING DEPOSIT None RATE INFORMATION Interest rate may change daily, is not tied to any index and is set at our discretion. Annual percentage yield* may change daily. Interest for any day will be paid on the entire balance available to earn interest on that day at the interest rate and annual percentage yield corresponding to the highest of the following interest rate tiers applicable to your account on that day: At least $1 but less than $2,500 At least $2,500 but less than $10,000 At least $10,000 but less than $25,000 At least $25,000 but less than $50,000 CHECKING 5 R

6 CHECKING At least $50,000 but less than $100,000 At least $100,000 but less than $150,000 At least $150,000 but less than $250,000 At least $250,000 but less than $500,000 At least $500,000 but less than $1,000,000 At least $1,000,000 *The annual percentage yield is a hypothetical rate that assumes that the interest rate will not change although in fact it may change daily. ACCRUAL OF INTEREST ON NONCASH DEPOSITS Interest begins to accrue on a noncash item (for example, a check) deposited in the account on the business day we receive credit for the item. FREQUENCY OF COMPOUNDING AND CREDITING OF INTEREST Interest is compounded daily and credited to the account at the end of the last day of each monthly interest payment cycle, and on the date the account is closed. COMPUTATION OF INTEREST (BALANCE COMPUTATION METHOD) Interest is computed each day using the daily balance method, under which we apply 1/365 of the interest rate for that day to the balance available to earn interest as of the end of that day. SERVICE FEES $14.95 monthly maintenance charge for each monthly service charge cycle for the account unless either: 1. the average daily balance maintained in the account for that monthly service charge cycle is at least $2,500, or 2. there are direct deposits of funds (such as Social Security benefits or payroll payments) totaling at least $2,000, made to the account during that period, or 3. on the last day of the monthly service charge cycle, the account and related M&T ATM Card or M&T Debit Card are linked to an M&T Banking Built for Business Suite, or 4. on the last day of the monthly service charge cycle, the account holder is an employee of M&T Bank or any of its affiliates and has his or her pay deposited directly to the account. Monthly maintenance charge will be charged if employment or direct deposit arrangement terminates and another of the above requirements is not met. Average daily balances are calculated by adding the balance in an account for each day of the prescribed period and dividing that figure by the number of days in such period. For additional fees that apply to checking accounts and special services, see the Fees section on page 15. For fees that apply to electronic banking card use, see page 17. MONTHLY INTEREST PAYMENT CYCLE AND MONTHLY SERVICE CHARGE CYCLE In general, the beginning and ending dates of each monthly interest payment cycle and each monthly service charge cycle depend upon the account opening date and will cover a period of not less than 28 days nor more than 31 days, with the first monthly interest payment cycle and monthly service charge cycle generally beginning on the date of account opening and each monthly interest payment cycle and monthly service charge cycle thereafter beginning on the date next following the ending date of the previous monthly interest payment cycle and monthly service charge cycle. STATEMENT PERIOD Monthly cycle MINIMUM BALANCE TO EARN INTEREST AND OBTAIN ANNUAL PERCENTAGE YIELD 1. The balance available to earn interest minus all interest earned on money in the account but not yet credited to the account must be at least $1 as of the end of any day to earn interest that day. 2. See section entitled Rate Information for minimum balance required to obtain the annual percentage yield applicable to each interest rate tier. BALANCE As of any time during any day will consist of: 1. All money previously deposited in and credited to the account but not yet withdrawn from and charged against the account plus 2. All interest credited to the account before that day but not yet withdrawn from and charged against the account. BALANCE AVAILABLE TO EARN INTEREST As of any time during any day will consist of: 1. The balance as of that time plus 2. All interest earned on money in the account before that day but not yet credited to the account minus 3. All noncash items (for example, checks) that were deposited in the account and for which we have not yet received credit. BALANCE AVAILABLE FOR WITHDRAWAL As of any time during any day will consist of the funds available for withdrawal in accordance with the Availability Disclosure for Consumer Deposit Accounts. METHOD OF PAYMENT OF INTEREST As requested: 1. By crediting the account or 2. By crediting the account followed immediately by transfer to a Checking or Savings account with us. ACCESS AT ELECTRONIC FACILITIES Yes FREE CHECKING KIND OF ACCOUNT Non-interest-bearing Checking Account MINIMUM OPENING DEPOSIT None SERVICE FEES 1. There is no monthly maintenance charge and no per-check charge for this account. 2. $5 for each monthly service charge cycle if your account is set up to have images of the fronts and backs of your paid checks returned with your statement, regardless of the number of check images returned with a statement or whether any check images are returned with a statement. (Your account will automatically receive images of the fronts of your paid checks. There will be no charge for this service.) For additional fees that apply to checking accounts and special services, see the Fees section on page 15. For fees that apply to electronic banking card use, see page 17. MONTHLY SERVICE CHARGE CYCLE In general, the beginning and ending dates of each monthly service charge cycle depend upon the account opening date and will cover a period of not less than 28 days nor more than 31 days, with the first monthly service charge cycle generally beginning on the date of account opening and each monthly service charge cycle thereafter beginning on the date next following the ending date of the previous monthly service charge cycle. STATEMENT PERIOD Monthly cycle BALANCE As of any time during any day will consist of all money previously deposited in and credited to the account but not yet withdrawn from and charged against the account. BALANCE AVAILABLE FOR WITHDRAWAL As of any time during any day will consist of the funds available for withdrawal in accordance with the Availability Disclosure for Consumer Deposit Accounts. ACCESS AT ELECTRONIC FACILITIES Yes 6 R

7 BASIC BANKING KIND OF ACCOUNT Non-interest-bearing Checking Account (If the account is opened in New Jersey, it will be considered a New Jersey Consumer Checking Account; if the account is opened in New York, it will be considered a New York Basic Banking Account.) MINIMUM OPENING DEPOSIT None MINIMUM BALANCE TO MAINTAIN ACCOUNT The account may be closed if the balance is less than $.01 for ninety consecutive days. SERVICE FEES 1. $3 monthly maintenance charge for each monthly service charge cycle. 2. An unlimited number of deposits and withdrawals may be made without incurring an excess transaction charge. The account may be subject to other fees related to deposits and withdrawals, such as insufficient funds (NSF) or overdraft fees, and electronic fund transfer (EFT) service charges for transactions made at electronic facilities other than M&T Bank electronic facilities. We may also charge you for specific banking services to the same extent we charge regular consumer transaction account customers for those services. A withdrawal shall be deemed to be made when recorded on the books of M&T Bank, which is not necessarily the date on which the withdrawal is initiated. 3. $5 for each monthly service charge cycle if your account is set up to have images of the fronts and backs of your paid checks returned with your statement, regardless of the number of check images returned with a statement or whether any check images are returned with a statement. (Your account will automatically receive images of the fronts of your paid checks. There will be no charge for this service.) For additional fees that apply to checking accounts and special services, see the Fees section on page 15. For fees that apply to electronic banking card use, see page 17. MONTHLY SERVICE CHARGE CYCLE In general, the beginning and ending dates of each monthly service charge cycle depend upon the account opening date and will cover a period of not less than 28 days nor more than 31 days, with the first monthly service charge cycle generally beginning on the date of account opening and each monthly service charge cycle thereafter beginning on the date next following the ending date of the previous monthly service charge cycle. STATEMENT PERIOD Monthly cycle of between 28 and 31 days. BALANCE As of any time during any day will consist of all money previously deposited in and credited to the account but not yet withdrawn from and charged against the account. BALANCE AVAILABLE FOR WITHDRAWAL As of any time during any day will consist of the funds available for withdrawal in accordance with the Availability Disclosure for Consumer Deposit Accounts. ACCESS AT ELECTRONIC FACILITIES Yes CHECKING 7 R

8 SAVINGS AND MONEY MARKET PERSONAL SAVINGS AND MONEY MARKET ACCOUNTS: Here are answers to some questions you may have about your personal savings and money market accounts after the conversion. Q. What will happen to my Hudson City savings or money market account on the conversion date? A. Your savings or money market account at Hudson City will be moved onto M&T systems. Q. What type of savings or money market account will I have after the conversion? A. We reviewed the terms of each type of Hudson City account and selected an M&T account that we believe is similar. The results are shown in the chart on the next page. Your Hudson City account will automatically become the type of account indicated in the chart, but we would be happy to discuss account options with you after the conversion. Simply stop by any branch or call us. Q. Will I receive statements for my savings and money market accounts? A. After conversion, M&T will send statements for all of your savings and money market accounts, even if you had a passbook for the account at Hudson City. We will generally send these quarterly, or monthly if you request that we combine these statements with your checking account statement or you have an electronic funds transfer during a month. However, if you received statements for your Hudson City savings or money market account monthly, we will continue to send statements for these accounts on approximately the same schedule. IMPORTANT NOTE FOR PASSBOOK CUSTOMERS: If you have a passbook, you will no longer need to bring it to a branch to be updated and it will no longer be an official record of your account. Statements will be provided to you. Q. Is there information that I should know about interest-bearing savings and money market accounts at M&T? A. Yes. Here are some important facts about interest-bearing savings and money market accounts at M&T. Please be sure to read this entire booklet for complete information. As was true at Hudson City, interest rates on savings and money market accounts are variable, may change daily, are not tied to any index, and are set by us at our discretion. The interest rate and annual percentage yield have not been determined yet. Please call after conversion to find out the interest rate and annual percentage yield applicable to your account. Minimum balance to earn interest is $1, and is a collected balance that must be maintained as of the end of any day to earn interest for that day. Interest rates are tiered, meaning that different interest rates may apply to different balances. The ranges of the tiers may be different from the interest rate tiers at Hudson City (see the applicable Specific Features and Terms for your account type set forth later in this booklet). From time to time, the interest rates payable for different balance tiers may be the same. If your balance falls within a particular tier, M&T will pay the interest rate corresponding to that tier on the entire balance available to earn interest in your account. Interest is calculated using the daily balance method, under which we apply 1/365 of the interest rate for that day to the balance available to earn interest as of the end of that day. Interest begins to accrue on noncash items (e.g., checks) deposited into your account on the business day we receive credit for the item. Interest rates paid on savings and money market accounts will be based on M&T s rates or, if an account paid a promotional rate for a designated period of time, this rate will continue until the expiration of that period. Q. What transaction limits apply to savings and money market accounts? A. During any calendar month, a total of no more than 6 withdrawals and transfers can be made to another account with us or to a third party by means of a preauthorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction (including Internet, online banking and other computer transactions), or by check, draft, debit card or similar order payable to a third party. Relationship Savings accounts are not intended to be accessed by check. If you exceed the number of transactions permitted by law, we reserve the right to close the account. Q. Will my transactions in my account be posted in the same way they are today? A. No. M&T will post transactions in your account after conversion in a different order than Hudson City did. Please see the Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items later in this booklet for more information. Q. Will the insufficient funds (NSF) and overdraft fees and practices for savings and money market accounts at M&T after conversion be the same as they were at Hudson City? A. No. M&T s NSF and overdraft fees and practices differ in some ways from those at Hudson City. NSF: M&T charges a $38.50 NSF fee if you do not have enough available funds in your savings or money market account to pay for a check or ACH transaction and we return the check or ACH transaction unpaid unless (a) the amount of the check or ACH is less than $5, or (b) your account has already been charged a total of 5 NSF and overdraft fees for items processed for payment on that business day. Overdraft: M&T charges a $38.50 overdraft fee if we decide to pay a transaction when you do not have enough available funds in your savings or money market account to pay that transaction unless one of the following exceptions applies: (a) the amount of the transaction is less than $5; (b) your account has already been charged a total of 5 NSF and overdraft fees for items processed for payment on that business day; or (c) the overdraft results from an ATM or one-time debit card transaction from your savings or money market account. For more information about these fees, please see the Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items, General Deposit Account Agreement and information on Fees later in this booklet. Q. What documents will govern my savings or money market account after the conversion? A. After the conversion, the governing documents of your account will include the following documents: General Deposit Account Agreement (beginning on page 25 of this booklet) Notice Regarding Insufficient Funds, Overdrafts and Order of Payment of Debit Items (beginning on page 19 of this booklet) Availability Disclosure for Consumer Deposit Accounts (on page 23 of this booklet) Specific Features and Terms for the specific type of account you will have at M&T (beginning on page 9 of this booklet) Additional Fees for Consumer Savings Accounts (see page 15 of this booklet) Fees for Special Services (see page 15 of this booklet) Electronic Banking Card and Telephone Transaction Disclosure and Agreement (beginning on page 16 of this booklet) These documents will apply to your account as though you had signed a deposit account opening document for that account. IMPORTANT: Many of the terms of these documents differ from the terms of the documents that govern your Hudson City account today. These differences may be important to you, so we encourage you to review all of the information in this booklet carefully and to contact us with any questions. These Q&As are provided as a convenience and summarize certain important information, but they do not include all information. Please be sure to review the full text of the disclosures and agreements in this booklet for complete information and contact us with any questions. 8 R

9 IF THIS IS YOUR ACCOUNT PRIOR TO CONVERSION Money Market Checking; OR Money Market Savings Regular Savings (Passbook or Statement) THIS WILL BE YOUR ACCOUNT AFTER CONVERSION MyChoice Money Market Relationship Savings INFORMATION ABOUT MONTHLY SERVICE FEES $15 monthly maintenance charge for each monthly service charge cycle unless you: Have a MyChoice Premium Checking, Power Checking or Portfolio Management Account, OR Keep a minimum daily balance of $2,500 or more in the account $12.50 per withdrawal* in excess of 6 per monthly service charge cycle The monthly maintenance charge will be waived for the first 3 monthly service charge cycles. Excess withdrawal fees will not be waived $7.50 monthly maintenance charge for each monthly service charge cycle unless you: Make at least one deposit to the account during the monthly service charge cycle, OR Have a consumer checking account with M&T Bank, other than Free Checking or EZChoice Checking, OR Keep a minimum daily balance of $500 or more in the account $12.50 per withdrawal* in excess of 6 per monthly service charge cycle The monthly maintenance charge will be waived for the first 3 monthly service charge cycles. Excess withdrawal fees will not be waived OTHER IMPORTANT INFORMATION ABOUT YOUR ACCOUNT IMPORTANT NOTE FOR PASSBOOK CUSTOMERS: If you have a passbook, you will no longer need to bring it to a branch to be updated and it will no longer be an official record of your account. Statements will be provided to you. IMPORTANT NOTE FOR PASSBOOK CUSTOMERS: If you have a passbook, you will no longer need to bring it to a branch to be updated and it will no longer be an official record of your account. Statements will be provided to you. SAVINGS AND MONEY MARKET This chart is provided as a convenience and summarizes certain important information, but it does not include all information. Please be sure to review the full text of the disclosures and agreements in this booklet for complete information and contact us with any questions. *Withdrawals and transfers counted toward this limit are those made to another account with us or to a third party by means of a preauthorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction (including Internet, online banking and other computer transactions), or by check, draft, debit card or similar order payable to a third party. SPECIFIC FEATURES AND TERMS (Consumer Savings and Money Market Accounts) MYCHOICE MONEY MARKET KIND OF ACCOUNT Interest-bearing Statement Savings Account with optional checkwriting MINIMUM OPENING DEPOSIT None ACCOUNT REQUIREMENTS TO RECEIVE PREMIUM INTEREST RATE On the day your MyChoice Money Market account is opened, and on the last day of each monthly interest payment cycle, we will determine whether your account will receive the Regular Interest Rate or the Premium Interest Rate (both of which may change daily) during the upcoming monthly interest payment cycle. To qualify for the Premium Interest Rate, you must (1) have a MyChoice Premium Checking, Power Checking or Portfolio Management Account, and (2) have made 3 or more qualifying customer-initiated transactions in that checking account during that account s most recently completed monthly service charge cycle. Qualifying customer-initiated transactions include deposits, withdrawals, M&T Online Bill Pay transactions, automatic payments, debit card purchases and payments, and direct deposits. Transfers and payments to other accounts at M&T Bank (including loans and lines of credit) are excluded. Reversals of transactions will be netted against the qualifying transactions. Transactions cannot be aggregated across multiple checking accounts for purposes of meeting this requirement. (Note: If your MyChoice Premium Checking or Portfolio Management Account has been open for less than one monthly service charge cycle on any day we determine the applicable interest rate, your MyChoice Money Market account will receive the Premium Interest Rate during the upcoming monthly interest payment cycle.) RATE INFORMATION Interest rate may change daily, is not tied to any index and is set at our discretion. Annual percentage yield* may change daily. Interest for any day will be paid on the entire balance available to earn interest on that day at the interest rate and annual percentage yield corresponding to the highest of the following interest rate tiers applicable to your account on that day: At least $1 but less than $2,500 At least $2,500 but less than $10,000 At least $10,000 but less than $25,000 At least $25,000 but less than $50,000 At least $50,000 but less than $100,000 At least $100,000 but less than $150,000 At least $150,000 but less than $250,000 At least $250,000 but less than $500,000 At least $500,000 but less than $1,000,000 At least $1,000,000 *The annual percentage yield is a hypothetical rate that assumes that the interest rate will not change although in fact it may change daily. ACCRUAL OF INTEREST ON NONCASH DEPOSITS Interest begins to accrue on a noncash item (for example, a check) deposited in the account on the business day we receive credit for the item. FREQUENCY OF COMPOUNDING AND CREDITING OF INTEREST Interest is compounded daily and credited to the account at the end of the last day of each monthly interest payment cycle, and on the date the account is closed. COMPUTATION OF INTEREST (BALANCE COMPUTATION METHOD) Interest is computed each day using the daily balance method, under which we apply 1/365 of the interest rate for that day to the balance available to earn interest as of the end of that day. SERVICE FEES 1. $15 monthly maintenance charge for each monthly service charge cycle unless either: a. the balance in the account is at least $2,500 as of the end of any day of that service charge cycle; or b. on the service charge cycle date, you have a MyChoice Premium Checking, Power Checking or Portfolio Management Account. 2. $12.50 excess withdrawal fee for each withdrawal or transfer (as described below), except for the first 6 withdrawals or tranfers, charged against the account during any monthly service charge cycle. Withdrawals and transfers counted toward this limit are those made to another account with us or to a third party by means of a preauthorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction (including Internet, online banking and other computer transactions), or by check, draft, debit card or similar order payable to a third party. The excess withdrawal fee is in addition to any fee for any electronic fund transfer made by using an electronic banking card or by using any electronic fund transfer service we make available, including, but not limited to, any Internet service. For additional fees that apply to savings accounts and special services, see the Fees section on page 15. For fees that apply to electronic banking card use, see page R

10 SAVINGS AND MONEY MARKET MONTHLY INTEREST PAYMENT CYCLE AND MONTHLY SERVICE CHARGE CYCLE In general, the monthly interest payment cycle and monthly service charge cycle for the account will be the same. The beginning and ending dates of each monthly interest payment cycle and each monthly service charge cycle depend upon the account opening date and will cover a period of not less than 28 days nor more than 31 days, with the first monthly interest payment cycle and monthly service charge cycle generally beginning on the date of account opening and each monthly interest payment cycle and monthly service charge cycle thereafter beginning on the date next following the ending date of the previous monthly interest payment cycle and monthly service charge cycle. STATEMENT PERIOD Statements will continue to be provided on approximately the same schedule as they were for your Hudson City account, or if you did not receive statements, we will provide statements quarterly, or monthly if you request that we combine statements with your checking account or you have an electronic funds transfer during a month. MINIMUM BALANCE TO EARN INTEREST AND OBTAIN ANNUAL PERCENTAGE YIELD 1. The balance available to earn interest minus all interest earned on money in the account but not yet credited to the account must be at least $1 as of the end of any day to earn interest that day. 2. See section entitled Rate Information for minimum balance required to obtain the annual percentage yield applicable to each interest rate tier. BALANCE As of any time during any day will consist of: 1. All money previously deposited in and credited to the account but not yet withdrawn from and charged against the account plus 2. All interest credited to the account before that day but not yet withdrawn from and charged against the account. BALANCE AVAILABLE TO EARN INTEREST As of any time during any day will consist of: 1. The balance as of that time plus 2. All interest earned on money in the account before that day but not yet credited to the account minus 3. All noncash items (for example, checks) that were deposited in the account and for which we have not yet received credit. BALANCE AVAILABLE FOR WITHDRAWAL As of any time during any day will consist of the funds available for withdrawal in accordance with the Availability Disclosure for Consumer Deposit Accounts. METHOD OF PAYMENT OF INTEREST As requested: 1. By crediting the account or 2. By crediting the account followed immediately by transfer to a Checking or Savings account with us. TRANSACTION LIMITATIONS During any calendar month, a total of no more than 6 withdrawals and transfers can be made to another account with us or to a third party by means of a preauthorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction (including Internet, online banking and other computer transactions), or by check, draft, debit card or similar order payable to a third party. ACCESS AT ELECTRONIC FACILITIES Yes. NOT TRANSFERABLE (as defined in 12 CFR 204) RELATIONSHIP SAVINGS KIND OF ACCOUNT Interest-bearing Statement Savings Account MINIMUM OPENING DEPOSIT None RATE INFORMATION Interest rate may change daily, is not tied to any index and is set at our discretion. Annual percentage yield* may change daily. Interest for any day will be paid on the entire balance available to earn interest on that day at the interest rate and annual percentage yield corresponding to the highest of the following interest rate tiers applicable to your account on that day: At least $1 but less than $2,500 At least $2,500 but less than $10,000 At least $10,000 but less than $25,000 At least $25,000 but less than $50,000 At least $50,000 but less than $100,000 At least $100,000 *The annual percentage yield is a hypothetical rate that assumes that the interest rate will not change although in fact it may change daily. ACCRUAL OF INTEREST ON NONCASH DEPOSITS Interest begins to accrue on a noncash item (for example, a check) deposited in the account on the business day we receive credit for the item. FREQUENCY OF COMPOUNDING AND CREDITING OF INTEREST Interest is compounded daily and credited to the account at the end of the last day of each monthly interest payment cycle, and on the date the account is closed. COMPUTATION OF INTEREST (BALANCE COMPUTATION METHOD) Interest is computed each day using the daily balance method, under which we apply 1/365 of the interest rate for that day to the balance available to earn interest as of the end of that day. SERVICE FEES 1. $7.50 monthly maintenence charge for each monthly service charge cycle unless either: (a) on the service charge cycle date, you have a consumer checking account with M&T Bank, other than Free Checking or EZChoice Checking, or (b) the balance in the Relationship Savings account is at least $500 as of the end of each day of that service charge cycle, or (c) you make at least one deposit during the monthly service charge cycle. 2. $12.50 excess withdrawal fee for each withdrawal or transfer (as described below), except for the first 6 withdrawals or transfers, charged against the account during any monthly service charge cycle. Withdrawals and transfers counted toward this limit are those made to another account with us or to a third party by means of a preauthorized or automatic transfer or telephonic (including data transmission) agreement, order or instruction (including Internet, online banking and other computer transactions), or by check, draft, debit card or similar order payable to a third party. The excess withdrawal fee is in addition to any fee for any electronic fund transfer made by using an electronic banking card or by using any electronic fund transfer service we make available, including, but not limited to, any Internet service. For additional fees that apply to savings accounts and special services, see the Fees section on page 15. For fees that apply to electronic banking card use, see page 17. MONTHLY INTEREST PAYMENT CYCLE AND MONTHLY SERVICE CHARGE CYCLE In general, the monthly interest payment cycle and monthly service charge cycle for the account will be the same. The beginning and ending dates of each monthly interest payment cycle and each monthly service charge cycle depend upon the account opening date and will cover a period of not less than 28 days nor more than 31 days, with the first monthly interest payment cycle and monthly service charge cycle generally beginning on the date of account opening and each monthly interest payment cycle and monthly service charge cycle thereafter beginning on the date next following the ending date of the previous monthly interest payment cycle and monthly service charge cycle. STATEMENT PERIOD Statements will continue to be provided on approximately the same schedule as they were for your Hudson City account, or if you did not receive statements, we will provide statements quarterly, or monthly if you request that we combine statements with your checking account or you have an electronic funds transfer during a month. 10 R