Peoples Bancorp : 1st Quarter 2026 Investor Presentation

About this update from Peoples Bancorp Inc.

INVESTOR PRESENTATION 1st QUARTER PEOPLES BANK GEOGRAPHIC PROFILE NASDAQ: PEBO OH PEOPLES BANK OFFICE PEOPLES HEADQUARTERS MD WV DC KY VA PEBO SNAPSHOT AS OF MARCH 31, 2026 ASSETS $9.6 BILLION ASSETS UNDER ADMIN & MGMT $4.0 BILLION DEPOSITS $7.6 BILLION LOANS $6.8 BILLION MARKET CAP $1.2 BILLION FULL-SERVICE BRANCH LOCATIONS 127 CULTURE NASDAQ: PEBO CORPORATE Our actions are guided by our core values represented by the PEBO Promise Circle, which embodies how we do business and our never ending pursuit of creating value for our associates, our communities, our clients, and our shareholders. Being true to these core values in the decisions we make and in our business practices is essential to driving sustainable long-term growth. OUR CORE VALUES Our vision is to be the BEST COMMUNITY BANK IN AMERICA for our employees, clients, shareholders, and local communities. OUR VISION C LIENTS FIRST I NTEGRITY ALWAYS R ESPECT FOR ALL C OMMITMENT TO COMMUNITY L EAD THE WAY E XCELLENCE IN EVERYTHING ROAD MAP NASDAQ: PEBO STRATEGIC Commitment to Superior Shareholder Returns Clients' First Choice for Financial Services Great Place to Work Meaningful Impact on Our Communities BEST COMMUNITY BANK IN AMERICA RESPONSIBLE RISK MANAGEMENT EXTRAORDINARY CLIENT EXPERIENCE PROFITABLE REVENUE GROWTH FIRST CLASS WORKPLACE Everyone is a Risk Manager Know the Risks: Strategic, Reputation, Credit, Market, Liquidity, Operational, Compliance Disciplined Credit Culture Do Things Right the First Time Raise Your Hand Discover the Root Cause Manage Change Effectively Keep Information Secure Treat The Client Like Family Delight The Client Ensure A Consistent Client Experience Across All Channels Learn Client's Goals and Fears Deliver Expert Advice and Solutions Evolve the Digital Experience DWYSYWD (Do What You Say You Will Do) Acquire, Grow and Retain Clients Earn Client Referrals Go Wide Price for the Value We Provide Operate Efficiently Have Appetite For Winning Execute Thoughtful Mergers and Acquisitions Hire for Values Competition Is Across the Street Promote a Culture of Learning Coach In Every Direction Put Right People In Right Job Be Accountable, No Excuses Recognize and Reward Performance Balance Work And Life Cultivate Diversity Spread Goodness / No Jerks RATIONALE NASDAQ: PEBO Strong capital, earnings growth and operating performance to support M&A strategy Proven acquisition and integration capabilities and scalable infrastructure CAPACITY TO GROW OUR FRANCHISE Top 10 bank-owned insurance agency with expertise in commercial, personal, life & health Wealth management - $4.0 billion in assets under administration and management, including brokerage, trust and retirement planning as of March 31, 2026 STRONG, DIVERSE SOURCES OF FEE INCOME Strongest deposit market share positions in rural markets. Top 3 market share in 36 counties across three states Presence near larger cities puts us in a position to capture lending opportunities in urban markets (e.g. Cincinnati, Cleveland, Columbus, Lexington, Louisville, Richmond, Washington D.C.) Greater revenue diversity than average $1 -$10 billion bank, with a fee income ratio of 24% in Q1 2026 Strong reputation with very active community involvement and award-winning brand name Nationwide insurance agency lending, commercial insurance premium financing, life insurance premium financing and equipment leasing businesses (North Star Leasing and Vantage Financial, LLC) UNIQUE COMMUNITY BANKING MODEL INVESTMENT RATIONALE NASDAQ: PEBO INVESTMENT 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 $34.36 on April 17, 2026, the $0.42 quarterly cash dividend per common share produces an annualized yield of 4.89% ATTRACTIVE DIVIDEND OPPORTUNITY Generate positive operating leverage Integrated enterprise risk management process Focused on business line performance and contribution, operating efficiency and credit quality Disciplined credit practice as indicated by portfolio construction Relatively neutral interest rate risk position (slightly asset sensitive) COMMITTED TO DISCIPLINED EXECUTION $0.84 $1.12 $1.32 $1.43 $1.50 $1.55 $1.59 $1.63 ® 11 STRAIGHT YEARS OF INCREASING DIVIDENDS 2015 $0.60 2016 $0.64 2017 2018 2019 2020 $1.37 2021 2022 2023 2024 2025 TYD 2026 $0.83 CASH DIVIDENDS (Paid on Common Shares) WORKING TOGETHER. BUILDING SUCCESS. 7 RATIONALE NASDAQ: PEBO INVESTMENT STRENGTH IN THE CURRENT ENVIRONMENT (AS OF MARCH 31, 2026) 77% of our deposits were retail deposits (consumer and small businesses) Average retail customer deposit relationship: $26,500 Median retail customer deposit relationship: $2,900 DEPOSITS Non-performing assets (NPAs) of 0.41% as a percentage of total assets 98.9% of loan portfolio "current" Total outstanding balance of commercial office space was $175 million or 2.6% of total loans 0.40% annualized net charge-offs to average loans Commercial Real Estate (CRE) was 186% of risk based capital CREDIT Loan-to-deposit ratio of 88% $713.2 million in liquefiable assets $4.2 billion of contingent liquidity sources (nearly $945.3 million of the available funding is from lines available from the FHLB 2 , FRB 3 and federal funds) LIQUIDITY Continue to exceed the capital required by FRB to be deemed well capitalized Tier 1 capital ratio was 12.89% Tangible book value per share was $22.95 Over $43.5 million in share buybacks since 2020 CAPITAL 1 Federal Deposit Insurance Corporation 2 Federal Home Loan Bank 3 Federal Reserve Bank PERFORMANCE NASDAQ: PEBO STOCK PEBO'S TOTAL ANNUAL RETURN HAS BEEN GREATER THAN ITS PROXY PEERS FOR YTD, 1-YEAR AND 3-YEAR TOTAL ANNUAL RETURN TOTAL ANNUAL RETURN AS OF MARCH 31, 2026 17% 18% 18% 15% 15% 12% 11% 5% YTD* 1-Year 3-Year -4% PEBO Proxy Peers S&P 500 20% 15% 10% 5% 0% -5% -10% Total Return includes impact of dividends. Peers include: AUB (Atlantic Union Bank), CBU (Community Bank), CCNE (CNB Bank), CHCO (City National Bank), CTBI (Community Trust Bank), EGBN (Eagle Bank), FCF (First Commonwealth Bank), FFBC (First Financial Bancorp), FISI (Five Star Bank), FMNB (Farmers National Bank), FRME (First Merchants Bank), GABC (German American Bank), HBNC (Horizon Bank), LKFN (Lake City Bank), NBTB (NBT Bancorp), NWBI (Northwest Bank), PRK (Park National Bank), SRCE (1st Source Bank), STBA (S&T Bank), SYBT (Stock Yards Bank), THFF (First Financial Bank), TMP (Tompkins Bank), TOWN (Towne Bank), WSBC (Wesbanco). COMMUNITY INVOLVEMENT NASDAQ: PEBO EXTERNAL RECOGNITION & $8.5 MILLION+ AWARDED IN GRANTS AND SCHOLARSHIPS BY THE PEOPLES BANK FOUNDATION SINCE ITS INCEPTION IN 2003 $900,000+ RAISED IN ASSOCIATE DONATIONS TO LOCAL FOOD BANKS & PANTRIES SINCE APRIL 2020 FIVE YEARS IN A ROW 4,000+ HOURS IN COMMUNITY REINVESTMENT ACT VOLUNTEER ACTIVITIES COMPLETED IN 2025 FIVE YEARS IN A ROW TWO YEARS IN A ROW COMMUNITY INVOLVEMENT NASDAQ: PEBO EXTERNAL RECOGNITION & CROSS $10 BILLION NASDAQ: PEBO PREPARING TO 2016-2022 Core system conversion 2016 Revamped online & mobile banking experience 2022 Internal Readiness Assessment for crossing $10 billion completed 2022 Deployed Robotic Process Automation in some business processes 2022-2023 2023 Implemented new dealer floor plan system (Data Scan) Implemented more robust fraud detection & monitoring Implemented system access provisioning tools Implemented Small Business Administration (SBA) specific loan origination system Interactive Teller Machine deployment External Readiness Assessment for crossing $10 billion completed by third party expert 2024 Implemented best-in-class customer relationship management solution (Salesforce) Implemented best-in-class insurance agency management software (Applied Epic) 14 2025 Cloud native business and commercial loan origination system (nCino) Implemented Governance, Risk & Compliance system (AuditBoard) 10 BANKS 2026 Cloud native data lakehouse (Snowflake) 1 PREMIUM FINANCE 2 EQUIPMENT LEASING ACQUISITIONS COMPLETED SINCE 2011 INSURANCE 4 INVESTMENT TECHNOLOGY AND CAPABILITIES NASDAQ: PEBO COMPETITIVE PRODUCTS, CREDIT CARD SOLUTIONS Purchasing card, virtual card, credit cards for consumers and small business COMMERCIAL CAPABILITIES Remote deposit capture, sweep accounts, escrow management and more FRAUD PREVENTION TOOLS Positive pay, reverse positive pay, debit card on/off switch, 24/7 fraud monitoring and more SPECIALTY FINANCE Online applications and servicing for leasing and premium finance BANKING MOBILE APP Mobile check deposit, Zelle, ® Apple Pay, ACH approval and more Apple App Store Rating: 4.6 Stars Google Play Store Rating: 4.5 Stars INVESTMENT and INSURANCE APPS App Store Ratings as of April 11, 2026 WORKING TOGETHER. BUILDING SUCCESS. 13 MARGIN NASDAQ: PEBO NET INTEREST PEBO IS IN THE TOP QUARTILE OF THE PEER GROUP IN TERMS OF NET INTEREST MARGIN DATA AS OF DECEMBER 31, 2025 PEER GROUP - NET INTEREST MARGIN 6.00% 5.00% 4.00% 4.12% 4.16% UNIV. $1-$10 B AVERAGE: 3.68% 3.00% 2.00% 1.00% PRK THFF HBNC SRCE PEBO GABC STBA FFBC FCF AUB CHCO CCNE NWBI CTBI NBTB WSBC FISI TOWN SYBT LKFN TMP CBU FRME FMNB EGBN 0.00% Source: S&P Global Market Intelligence, as of 12.31.25. Peer financial institutions are used in this presentation for comparative purposes and are referred to as the "Peer Group." Peers include: AUB (Atlantic Union Bank), CBU (Community Bank), CCNE (CNB Bank), CHCO (City National Bank), CTBI (Community Trust Bank), EGBN (Eagle Bank), FCF (First Commonwealth Bank), FFBC (First Financial Bancorp), FISI (Five Star Bank), FMNB (Farmers National Bank), FRME (First Merchants Bank), GABC (German American Bank), HBNC (Horizon Bank), LKFN (Lake City Bank), NBTB (NBT Bancorp), NWBI (Northwest Bank), PRK (Park National Bank), SRCE (1st Source Bank), STBA (S&T Bank), SYBT (Stock Yards Bank), THFF (First Financial Bank), TMP (Tompkins Bank), TOWN (Towne Bank), WSBC (Wesbanco). AVERAGE ASSETS NASDAQ: PEBO RETURN ON PEOPLES BANK CONTINUES TO GROW TANGIBLE BOOK VALUE TANGIBLE BOOK VALUE PER SHARE $22.77 $22.95 $19.94 $18.16 $16.23 Q4-22 Q4-23 Q4-24 Q4-25 YTD-26 $25.00 $20.00 $15.00 $10.00 $5.00 Q1-26 $0.00 DEPOSITS NASDAQ: PEBO COST OF PEBO IS BELOW THE AVERAGE $1 - $10 BILLION BANK UNIVERSE IN TERMS OF COST OF DEPOSITS DATA AS OF DECEMBER 31, 2025 PEER GROUP - TOTAL DEPOSIT COST (%) UNIV. $1-$10 B AVERAGE: 2.00% 1.68% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% EGBN LKFN FRME FISI CCNE CTBI AUB SRCE FFBC SYBT STBA WSBC FCF FMNB PEBO TOWN TMP GABC HBNC NWBI THFF NBTB CHCO CBU PRK 0.00% Source: S&P Global Market Intelligence, as of 12.31.25. Peer financial institutions are used in this presentation for comparative purposes and are referred to as the "Peer Group." Peers include: AUB (Atlantic Union Bank), CBU (Community Bank), CCNE (CNB Bank), CHCO (City National Bank), CTBI (Community Trust Bank), EGBN (Eagle Bank), FCF (First Commonwealth Bank), FFBC (First Financial Bancorp), FISI (Five Star Bank), FMNB (Farmers National Bank), FRME (First Merchants Bank), GABC (German American Bank), HBNC (Horizon Bank), LKFN (Lake City Bank), NBTB (NBT Bancorp), NWBI (Northwest Bank), PRK (Park National Bank), SRCE (1st Source Bank), STBA (S&T Bank), SYBT (Stock Yards Bank), THFF (First Financial Bank), TMP (Tompkins Bank), TOWN (Towne Bank), WSBC (Wesbanco). RATIO NASDAQ: PEBO LOAN-TO-DEPOSIT PEBO IS JUST ABOVE THE AVERAGE OF THE $1-$10 BILLION BANK UNIVERSE IN TERMS OF LOAN-TO-DEPOSIT RATIO DATA AS OF DECEMBER 31, 2025 PEER GROUP - LOAN-TO-DEPOSIT RATIO 88.79% UNIV. $1-$10 B AVERAGE: 88.41% 120% 100% 80% 60% 40% 20% STBA PRK SRCE NWBI TMP FCF HBNC CCNE AUB CTBI SYBT FRME LKFN FISI THFF PEBO WSBC NBTB CHCO GABC FFBC TOWN EGBN CBU FMNB 0% Source: S&P Global Market Intelligence, as of 12.31.25. Peer financial institutions are used in this presentation for comparative purposes and are referred to as the "Peer Group." Peers include: AUB (Atlantic Union Bank), CBU (Community Bank), CCNE (CNB Bank), CHCO (City National Bank), CTBI (Community Trust Bank), EGBN (Eagle Bank), FCF (First Commonwealth Bank), FFBC (First Financial Bancorp), FISI (Five Star Bank), FMNB (Farmers National Bank), FRME (First Merchants Bank), GABC (German American Bank), HBNC (Horizon Bank), LKFN (Lake City Bank), NBTB (NBT Bancorp), NWBI (Northwest Bank), PRK (Park National Bank), SRCE (1st Source Bank), STBA (S&T Bank), SYBT (Stock Yards Bank), THFF (First Financial Bank), TMP (Tompkins Bank), TOWN (Towne Bank), WSBC (Wesbanco). YIELD NASDAQ: PEBO LOAN PEBO IS ABOVE THE AVERAGE OF THE PEER GROUP IN TERMS OF LOAN YIELD DATA AS OF DECEMBER 31, 2025 PEER GROUP - LOAN YIELD 6.73% 6.75% 6.06% 6.17% 5.64% 6.09% 6.16% 5.13% 5.69% 4.73% 4.58% 4.48% 4.48% 4.20% 7.50% 7.23% 6.50% 5.65% 5.50% 4.50% 3.50% FY2021 FY2022 FY2023 FY2024 FY2025 Avg. $1-$10 Billion Universe PEBO Peer Average **$1-10 Billion Universe reflects such banks as of the most recent period presented. Source: S&P Global Market Intelligence, as of 12.31.25. Peer financial institutions are used in this presentation for comparative purposes and are referred to as the "Peer Group." Peers include: AUB (Atlantic Union Bank), CBU (Community Bank), CCNE (CNB Bank), CHCO (City National Bank), CTBI (Community Trust Bank), EGBN (Eagle Bank), FCF (First Commonwealth Bank), FFBC (First Financial Bancorp), FISI (Five Star Bank), FMNB (Farmers National Bank), FRME (First Merchants Bank), GABC (German American Bank), HBNC (Horizon Bank), LKFN (Lake City Bank), NBTB (NBT Bancorp), NWBI (Northwest Bank), PRK (Park National Bank), SRCE (1st Source Bank), STBA (S&T Bank), SYBT (Stock Yards Bank), 18 THFF (First Financial Bank), TMP (Tompkins Bank), TOWN (Towne Bank), WSBC (Wesbanco). MANAGEMENT PROCESS NASDAQ: PEBO CREDIT RISK Robust concentration management process focused on portfolio risk diversification Relationship based lending CRE and Commercial & Industrial (C&I) are balanced with Consumer CRE financing generally for "A" tier developers only CRE was 186% of risk based capital as of 3/31/2026 Very limited out-of-market lending Growing consumer portfolios organically and through acquisitions LOANS & LEASES * PORTFOLIO COMPOSITION Clear segregation of duties between sales & credit functions Signature approval process with Credit Administration representation Centralized risk rating, borrowing base monitoring, covenant tracking and testing Consistent documentation and loan funding process centrally managed by Credit Administration with second review Experienced workout team dedicated to proactive rehabilitation or exit Construction loan monitoring and funding process independently managed by Credit Administration staff MANAGEMENT & MONITORING Experienced, independent commercial and consumer underwriters Comprehensive commercial underwriting package includes standardized loan covenant language, sensitivity analysis and industry research Risk appropriate CRE policy standards that vary by asset class Established limits on policy exceptions; volume and trends monitored monthly Use of government guarantee programs when appropriate Use of automated underwriting systems to evaluate all residential loan requests (e.g. Fannie Mae Desktop Underwriter) Board approval required for CRE and C&I loans >$40 million External loan review by global consulting firm Quarterly Criticized Asset Review (CAR) meetings for loans > $0.5 million Quarterly review of Systemically Important Relationships (SIRs) Monthly Loan Quality Committee meetings Internal loan reviews are performed annually on all commercial loans > $1 million Quarterly, the Current Expected Credit Loss (CECL) Assumptions Group provides recommendations on the allowance for credit losses (ACL) based on their review of economic forecasts and loan portfolio metrics POLICY / UNDERWRITING STANDARDS OVERSIGHT ® *Also referred to throughout this document as "Total Loans" and "Loans Held for Investment." WORKING TOGETHER. BUILDING SUCCESS. 19 QUALITY NASDAQ: PEBO ASSET ASSET QUALITY METRICS HAVE BEEN WELL MANAGED NPAs AS A PERCENT OF TOTAL ASSETS CRITICIZED AND CLASSIFIED LOANS $100 1.00% 35.00% $80 0.80% 30.00% NPA'S IN $ MILLIONS $60 0.60% 25.00% $40 0.40% 20.00% $20 0.20% 15.00% $0 FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 0.00% 10.00% 29.11% 28.50% 28.24% 26.66% 26.02% 21.92% 16.40% 16.69% 13.89% 13.88% 13.34% 13.60% FY-21 FY-22 FY-23 FY-24 FY-25 YTD-26 CRE Residential C&I HELOC Consumer NPA as a percent of Total Assets CRITICIZED LOANS / TIER 1 CAPITAL + ALLL CLASSIFIED LOANS / TIER 1 CAPITAL + ALLL * * In accordance with SEC reporting methodologies. Criticized loans includes loans categorized as special mention, substandard, doubtful or loss. Classified loans includes loans categorized as substandard, doubtful or loss. 20 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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