The value m means macro photography, which is a new format (as from Excel 2007).
These are add-ons that macros can call. On the other hand, you can also have xlax extensions that are intended for macro freeworkbooks.
Also note the difference between xls and xlsm, where xlsx files also do not contain macros.
Why? My guess is that security will be the main reason.
Some people do not like to receive files without knowing if there are potentially harmful macros in it. In the old format, you cannot make a difference based on the file extension.
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