Peoples Bancorp Inc. · NASDAQ:PEBO
Peoples Bancorp — Q2 2026 Earnings Presentation
40 slides from Peoples Bancorp's earnings presentation, Jul 27, 2026
Slide 1: Investor Presentation 2nd Quarter
Peoples (@) BANCORP INVESTOR PRESENTATION 2nd QUARTER
Slide 2: Safe Harbor Statement
Feop BANCORP” a) SAFE HARBOR STATEMENT Statements in this presentation which are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 2IE of the Securities Exchange Act of 1934, as amended, and the Private Securiti
Slide 3: PEBO Snapshot as of June 30, 2026
@ PEOPLES BANK OFFICE @ PEOPLES HEADQUARTERS PEBO SNAPSHOT AS OF JUNE 30, 2026 ASSETS DEPOSITS MARKET CAP $9.5 BILLION $7.5 BILLION $1.4 BILLION ASSETS UNDER LOANS FULL-SERVICE ADMIN & MGMT $6.8 BILLION BRANCH LOCATIONS $4.5 BILLION 127
Slide 4: Corporate Culture
CORPORATE CULTURE —(@) NASDAQ: PEBO OUR VISION Our vision is to be the BEST COMMUNITY BANK IN AMERICA for our employees, clients, shareholders, and local communities. OUR CORE VALUES Our actions are guided by our core values represented by the PEBO Promise Circle, which embodies how we do business a
Slide 5: Strategic Road Map
STRATEGIC ROAD MAP NASDAQ: PEBO. Cm People. BANK * Commitment to Superior Shareholder Returns * Great Place to Work * Clients’ First Choice for Financial Services * Meaningful Impact on Our Communities RESPONSIBLE EXTRAORDINARY \T + Everyone isa Risk Manager + Treat The Client Like Family + Acquire,
Slide 6: Investment Rationale
INVESTMENT RATIONALE PC) sone: OO UNIQUE COMMUNITY STRONG, DIVERSE BANKING MODEL SOURCES OF FEE INCOME © Strongest deposit market share positions * Top 10 bank-owned insurance agency with in rural markets. Top 3 market share in 36 expertise in commercial, personal, life & health SUSE CHU MESES ‘© We
Slide 7: Attractive Dividend Opportunity
ATTRACTIVE DIVIDEND OPPORTUNITY COMMITTED TO DISCIPLINED EXECUTION Targeting 40% to 50% payout ratio under normal operating environment Dividend paid increased every year since 2015 Based on the closing stock price of Peoples’ common shares of $39.39 on July 17, 2026, the $0.42 quarterly cash divide
Slide 8: Investment Rationale: Strength in the Current Environment
INVESTMENT RATIONALE STRENGTH IN THE CURRENT ENVIRONMENT (AS OF JUNE 30, 2026) DEPOSITS CREDIT * 78% of our deposits were retail deposits (consumer and small businesses) * Average retail customer deposit relationshij * Median retail customer deposit relationship: $2,700 $26,000 Non-performing assets
Slide 9: Performance
sek PERFORMANCE eC) ae PEBO'S TOTAL ANNUAL RETURN HAS BEEN GREATER THAN ITS PROXY PEER GROUP FOR YEAR TO DATE AND 1-YEAR TOTAL ANNUAL RETURN AS OF JUNE 30, 2026 35%6 30% 25%6 20% 15% 10% 5% 0% ym Year Year mPEBO se Proxy Peers ms5P 500 “Total Return includes impact of ividends.. Peers include: AUB (
Slide 10: Peoples Bank Foundation and community impact
IN GRANTS AND RSHIPS BY THE PEOPLES BANK FOUNDATION SINCE ITS INCEPTION IN 2003 é Peoples BANK FOUNDATION. $900,000+ RAISED IN ASSOCIATE DONATIONS TO LOCAL BANKS & PANTRIES CE APRIL 2 Ng 4,000+ HOURS IN COMMUNITY REINVESTMENT ACT VOLUNTEER ACTIVITIES COMPLETED IN 2025 Best Banks to Work For FIVE YEA
Slide 11: 1
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Slide 12: Preparing to Cross $10 Billion
PREPARING TO CROSS $10 BILLION PC) sone: OO 2023 implemented new dealer floor plan system (Data _ 2024 2025 2026 Cloud native business and commercial loan Cloud native 2 1 2 22 Implemented more robust oe system ce aes 0 6 0 fraud detection & monitoring isles implemented best-in-class customer relati
Slide 13: Competitive Products, Technology and Capabilities
COMPETITIVE PRODU TECHNOLOGY AND CAPABILITI NASDAQ: PEBO. Om CREDIT CARD SOLUTIONS COMMERCIAL CAPABILITIES FRAUD PREVENTION TOOLS Purchasing card, virtual card, Remote deposit capture, sweep Positive pay, reverse positive pay, credit cards for consumers. accounts, escrow management debit card on/off
Slide 14: Net Interest Margin
FTINTER MARGIN PC) 1st00: Fe PEBO IS IN THE TOP QUARTILE OF THE PEER GROUP IN TERMS OF NET INTEREST MARGIN DATA AS OF MARCH 31, 2026 PEER GROUP - NET INTEREST MARGIN 6.00% 5.00% 4.00% UNIV. $+-$10 B AVERAGE: 3.65% 3.00% 2.00% 1.00% 0.00% Teuwedegusquastauesete ees EESSRSSREISSTESR ESSER REZ E EPRR S
Slide 15: Return on Average Assets
RETURN ON AVERAGE ASSETS = = | NASDAQ: PEBO. () ) | PEOPLES BANK CONTINUES TO GROW TANGIBLE BOOK VALUE! TANGIBLE BOOK VALUE PER SHARE $25.00 sz000 3100 $10.00 $5.00 'Nor-US GAAP financial measure. See Appendix. WORKING TOGETHER. BUILDING SUCCESS. 15
Slide 16: Cost of Deposits vs. Peers
PEBO IS BELOW THE AVERAGE SI - $10 BILLION BANK UNIVERSE IN TERMS OF COST OF DEPOSITS DATA AS OF MARCH 31, 2026 PEER GROUP - TOTAL DEPOSIT COST (%) 3.50% 3.00% 2.50% 1.68% 2.00% UNIV. SF-$10 B AVERAGE: 1.89% 1.50% 1.00% 0.50% 0.00% ZzZ4¥nv¥aeP¥4¥oracouemMozaoyvgtra ax BEeESESRESERR SRE SSEEEESBE GSE
Slide 17: Loan-to-Deposit Ratio
LOANTO-DETOS RATI oe 2) ae PEBO IS JUST ABOVE THE AVERAGE OF THE $1-S10 BILLION BANK UNIVERSE IN TERMS OF LOAN-T0-DEPOSIT RATIO. DATA AS OF MARCH 31, 2026, PEER GROUP - LOAN-TO-DEPOSIT RATIO 120% 88.79% 100% UNIV. $I-$10 B AVERAGE: 87.27% 80% 60% 40% 20% 0% ‘Source: SEP Global Market Inteligence, as
Slide 18: Loan Yield
OAN YIELD Wa 2 PEBO IS ABOVE THE AVERAGE OF THE PEER GROUP IN TERMS OF LOAN YIELD DATA AS OF MARCH 31, 2026 PEER GROUP - LOAN YIELD 7.50% 6.46% 6.50% 6.06% 5.50% 450% | 440% 420% 3.50% Fy2i Fy-22 Fy-23 Fy24 Fy 12026 e—Avg.$1-$10 Billion Universe —@—PEBO —O=Peer Average ‘SHO Billon Universe reflects
Slide 19: Credit Risk Management Process
CREDIT RISK MANAGEMENT PROC! LOANS & LEASES’ PORTFOLIO COMPOSITION MANAGEMENT & MONITORING + Robust concentration management process focused on ‘+ Clear segregation of duties between sales & credit functions portfolio risk diversification + Signature approval process with Credit Administration repre
Slide 20: Asset Quality
ASSET QUALITY Wa 2 ASSET QUALITY METRICS HAVE BEEN WELL MANAGED NPAs AS A PERCENT OF TOTAL ASSETS. CRITICIZED AND CLASSIFIED LOANS = sn sel aoe 2 a ws = 2 2 a sea 2 sion = so 020% som es ord Cs ad cs a | _ See oo “Inaccordance with SEC reporting methodologies. Criticized loans includes loans categor
Slide 21: CRE Concentration
CRE CONCERN oe 2) ae CRE AND CONSTRUCTION EXPOSURES ARE WELL BELOW SUPERVISORY CRITERIA AND THE AVERAGE FOR SI1OB BANKS DATA AS OF MARCH 31, 2026 DATA AS OF MARCH 31, 2026 PEER GROUP - CONSTRUCTION, LAND AND LAND PEER GROUP ~ CRE LOANS / RISK-BASED CAPITAL DEVELOPMENT LOANS / RISK'BASED CAPITAL 350%
Slide 22: Loan Composition
me LOAN COMPOSITION LOAN COMPOSITION REFLECTS DIVERSIFIED RISK PROFILE TOTAL LOAN PORTFOLIO = $6.8 BILLION 1 COMMERCIAL - 63% 2 CONSUMER - 28% 3. SPECIALTY FINANCE ~ CONSUMER LOAN PORTFOLIO = $1.9 BILLION 1. RESIDENTIAL REAL ESTATE ~ 4496 2 CONSUMER, INDIRECT - 36% 3. HOME EQUITY LINE OF CREDIT ~14%
Slide 23: Loan Composition: C&I, Geography and CRE
TOTAL C&l PORTFOLIO = $17BILLION* FOOD SERVICES - 28% CREDIT INTERMEDIATION ~ 139% MANUFACTURING MACHINERY ~ 4% REAL ESTATE ~ 4% MERCHANT WHOLESALERS ~ 3% SPECIALTY TRADE CONTRACTORS ~ 3% AMBULATORY HEALTH ~ 39% ‘CARE SERVICES WOOD PRODUCT MANUFACTURING ~ 396 LIFE PREMIUM FINANCE ~ 39% 10 PROFESSION
Slide 24: Q2 2026 Highlights & Key Impacts
Q?2 2026 HIGHLIGHTS & KEY IMPACTS —(@) NASDAQ: PEBO Q2 2026 RETURN ON AVERAGE ASSETS ) 117% NET INTEREST MARGIN ) 423% TP S28 MILLION cesnzereowreo come ssa NET CHARGE-OFFS » 0.31% OF AVERAGE TOTAL LOANS ee ) 58.3% LOAN TO DEPOSIT RATIO 24, ‘Return on average asetsaustd fr noncare ts was 147% a of J
Slide 25: Expense and Improvement in Key Metrics
ESCALATION IN EXPENSE WAS DUE TO ‘ACQUISITIONS AND ORGANIC GROWTH CORE NON-INTEREST EXPENSE’ s9onc00 ROAA GREATER THAN 1.0% SINCE 2021 RETURN ON AVERAGE ASSETS (ROAA) ADJUSTED FOR NON-CORE ITEMS! 'Nor-US GAAP financial measure. See Appendix. NOTTO SCALE IMPROVEMENT IN KEY METRICS NASDAQ: PEBO. Om EF
Slide 26: Total Revenue
TOTAL REVENUE PQ) 1st10: Fe OO $241 MILLION IN TOTAL REVENUE IN THE FIRST HALF OF 2026 $500,000 $400,000 $300,000 $200,000 $100,000 $o + FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 NET INTEREST INCOME ™ NON-INTEREST INCOME, EXCLUDING GAINS AND LOSSES * “Now US GAAP financial measure. See Append. 26
Slide 27: Non-Interest Revenue Composition
NON-INTEREST REVENUE COMPOSITION a NASDAQ: PEBO Om SOURCES OF FEE BASED INCOME NON-INTEREST INCOME TOTAL INSURANCE REVENUE YTD 2026 YTD 2026 $58 MILLION TOTAL INVESTMENT REVENUE $9.9 MILLION YTD 2026 $11.6 MILLION 1 BROKERAGE ~ 44% 2 FIDUCIARY - 42%. 3 EMPLOYEE BENEFITS ~ 149% 1 COMMERCIAL - 57% 2 P
Slide 28: Total Loan Growth
=@ TOTAL (GAN GROWTH NASDAQ: PEBO ($ MILLIONS) $7,000 $3,500 TOTAL LOANS’ WERE $6.8 BILLION AS OF JUNE 30, 2026 FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 ‘Also referred to throughout this document as “total loans and leases” and “loans held for investment.” ‘ME LIMESTONE ACQUIRED LOANS, (HBL PREMIER FINA
Slide 29: Deposit Growth
($ MILLIONS) $9,000 $6,000 $3,000 DEPOSIT GROWTH NASDAQ: PEBO. () ) | 36% OF DEPOSIT BALANCES AS OF JUNE 30, 2026 WERE DEMAND DEPOSIT ACCOUNTS (DDAS), INCLUDING $1.6 BILLION OF NON-INTEREST BEARING DDAS (BROKERED CERTIFICATES OF DEPOSIT: (NE GOVERNMENTAL DEPOSIT ACCOUNTS (_WONEY MARKET DEPOSIT ACCOU
Slide 30: Citizens National Corporation Highlights
30 sy {TIZENS NATIONAL CORPORATION HIGHLIGHTS AS OF MARCH 31, 2026 9 ple % PAINTSVILLE, KY 2 CZNL HEADQUARTERS BRANCHES OTCPK SYMBOL cs) S & $686 MILLION $342 MILLION $586 MILLION TOTALASSETS © TOTALLOANS — TOTAL DEPOSITS 58% ae LOANS / DEPOSITS ANNOUNCED APRIL 21, 2026 © Citizens, through its commu
Slide 31: Acquisition of Citizens National Corporation
ACQUISITION 0! CITIZENS NATIONAL COR PORATION aa COMPELLING STRATEGIC FIT FINANCIALLY ATTRACTIVE + Exceptional deposit franchise that addresses key strategic priorities + Attractive pricing with modest expected TBV dilution (0.9%) and of Peoples Bank earnback period (<l year) *+ Low-cost funding (1.
Slide 32: 2026 Financial Expectations
2026 FINANCIAL EXPECTATIONS i () 2026 (DOES NOT INCLUDE THE IMPACT OF NON-CORE EXPENSES OR THE PROPOSED CITIZENS MERGER) NET INTEREST MARGIN » ANTICIPATED TO BE BETWEEN 410% AND 430% FOR THE FULL YEAR OF 2026. FAEBASED INCOME » ANTICIPATED TO BE BETWEEN $28 AND $30 MILLION QUARTERLY IN 2026 CREDIT c
Slide 33: Q2 2026 Appendix
@, 02.2026 APPENDIX
Slide 34: Appendix: Non-US GAAP Measures
34 APPENDIX NON-US GAAP MEASURES (@) NASDAQ: PEBO CORE NON-INTEREST INCOME Core non-interest income is a financial measure use by Peoples’ recurring noninterest revenue stream, This measure is non-US GAAP since it excludes the impact of all gains and/or losses. (S in Thousands) FY21 FY.22 FY-23 Fy24
Slide 35: Appendix: Efficiency Ratio
APPENDIX NON-US GAAP MEASURES EFFICIENCY RATIO AND ADJUSTED FOR NON-CORE ITEMS The effciency ratio isa key financial measure used to monitor performance. The efficiency ratio is calculated as total noninterest expense (less amortization of other intangible assets) as a percentage of fully tax equiva
Slide 36: Appendix: Return on Average Tangible Equity
APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO @ RETURN ON AVERAGE TANGIBLE STOCKHOLDERS’ EQUITY ‘The return on average tangible stockholders’ equity rato is a key financial measure used to monitor performance. Ii calculated as net income (less after-tax impact of amortization of other intangible assets
Slide 37: Appendix: Return on Average Equity
APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO RETURN ON AVERAGE STOCKHOLDERS’ EQUITY ADJUSTED FOR NON-CORE ITEMS ‘The return on average stockholders’ equity adjusted for non-core items represents a non-US GAAP financial measure since it excludes the after-tax impacts of all gains and losses, acquisitio
Slide 38: Appendix: Return on Average Assets
38 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO RETURN ON AVERAGE ASSETS AND ADJUSTED FOR NON-CORE ITEMS The return on average assets adjusted for non-core items represents a non-US GAAP financial measure since it excludes the after-tax impact of all gains and losses, COVID-19-related expenses, COVID-
Slide 39: More Than Just a Bank
MORE THAN JUST A BANK Peop. ples )) —_———— «BANCORP! LOCATIONS IN OHIO, WEST VIRGINIA, KENTUCKY, VIRGINIA, WASHINGTON D.C. AND MARYLAND Peoples @), Peoples@) Peoples() BANK ivestmenrsenvices \Ceeo Pres NATIONWIDE SPECIALTY FINANCE DIVISIONS Peopies@) Peoples @) ORTH STA Vantage NUE ASINGR @ Financia
Slide 40: Contact
Peoples @ (@) eRe TYLER WILCOX President and Chief Executive Officer 740.373.7737 TylerWilcox@pebo.com KATIE BAILEY Executive Vice President Chief Financial Officer and Treasurer 740.376.7138 Kathryn.Bailey@pebo.com ‘The three arched ribbons log is a federally registered service mark of Peoples Bank