Peoples Bancorp : 3rd Quarter 2025 Investor Presentation

About this update from Peoples Bancorp Inc.

INVESTOR PRESENTATION I 3rd QUARTER WORKING TOGETHER. BUILDING SUCCESS. ® Statements in this presentation which are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include discussions of the strategic plans and objectives or anticipated future performance and events of Peoples Bancorp Inc. ("Peoples"). The information contained in this presentation should be read in conjunction with Peoples' Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the "2024 Form 10-K"), and the Quarterly Report on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025, each of which is available on the Securities and Exchange Commission's ("SEC") website (sec.gov) or at Peoples' website (peoplesbancorp.com). Investors are cautioned that forward-looking statements, which are not historical fact, involve risks and uncertainties, including those detailed in the 2024 Form 10-K under the section, "Risk Factors" in Part I, Item 1A. As such, actual results could differ materially from those contemplated by forward-looking 2 statements made in this presentation. Management believes that the expectations in these forward-looking statements are based upon reasonable assumptions within the bounds of management's knowledge of Peoples' business and operations. Peoples disclaims any responsibility to update these forward-looking statements to reflect events or circumstances after the date of this presentation. WORKING TOGETHER BUILDING SUCCESS PEOPLES BANK GEOGRAPHIC PROFILE NASDAQ: PEBO OH PEOPLES BANK OFFICE PEOPLES HEADQUARTERS MD WV DC KY VA PEBO SNAPSHOT AS OF SEPTEMBER 30, 2025 ASSETS $9.6 BILLION ASSETS UNDER ADMIN & MGMT $4.1 BILLION DEPOSITS $7.6 BILLION LOANS $6.7 BILLION MARKET CAP $1.1 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 - $4.1 billion in assets under administration and management, including brokerage, trust and retirement planning as of September 30, 2025 Nationwide equipment leasing companies (North Star Leasing and Vantage Financial, LLC) STRONG, DIVERSE SOURCES OF FEE INCOME INVESTMENT UNIQUE COMMUNITY BANKING MODEL Strongest deposit market share positions in rural markets where we can affect pricing. 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% for the first nine months of 2025 Strong reputation with very active community involvement and award-winning brand name Nationwide insurance premium financing and equipment leasing businesses 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 $28.15 on October 17, 2025, the quarterly dividend produces an annualized yield of 5.83% ATTRACTIVE DIVIDEND OPPORTUNITY 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 & GENERATING POSITIVE OPERATING LEVERAGE $0.84 $1.32 $1.43 $1.50 2023 $1.55 $1.59 10 STRAIGHT YEARS OF INCREASING DIVIDENDS 2015 2016 2017 $0.60 $0.64 2018 $1.12 2019 2020 $1.37 2021 2022 2024 YTD 2025 $1.22 CASH DIVIDENDS (Paid on Common Shares) ® WORKING TOGETHER. BUILDING SUCCESS. 7 RATIONALE NASDAQ: PEBO INVESTMENT STRENGTH IN THE CURRENT ENVIRONMENT (AS OF SEPTEMBER 30, 2025) 77% of our deposits are retail deposits (consumer and small businesses) Average retail customer deposit relationship: $26,000 Median retail customer deposit relationship: $2,600 27% of our deposit balances exceeded FDIC 1 insurance limits (18% if you exclude collateralized governmental deposits) DEPOSITS Non-preforming assets (NPAs) of 0.47% as a percentage of total assets 99.0% of loan portfolio "current" Total outstanding balance of commercial office space was $184 million or 2.7% of total loans 0.41% net charge-offs to average loans Commercial Real Estate (CRE) is 191% of risk based capital CREDIT Loan-to-deposit ratio of 88% $735.2 million in liquefiable assets $4.0 billion of contingent liquidity sources (nearly $985.2 million of the available funding is from lines available from the FHLB 2 and the FRB 3 ) LIQUIDITY Continue to exceed the capital required by FRB to be deemed well capitalized Tier 1 capital ratio was 12.54% Tangible book value per share was $22.05 Over $42.0 million in share buybacks since 2020, including $0.5 million in 2025 CAPITAL 1 Federal Deposit Insurance Corporation 2 Federal Home Loan Bank 3 Federal Reserve Bank COMMUNITY INVOLVEMENT NASDAQ: PEBO EXTERNAL RECOGNITION & $800,000+ AMOUNT RAISED IN ASSOCIATE DONATIONS TO LOCAL FOOD BANKS & PANTRIES SINCE APRIL 2020 FOUR YEARS IN A ROW FOUR YEARS IN A ROW TWO YEARS IN A ROW TWO YEARS IN A ROW $8 MILLION PEOPLES BANK FOUNDATION GRANTS AND SCHOLARSHIPS AWARDED SINCE ITS INCEPTION IN 2003 5,000+ HOURS IN COMMUNITY REINVESTMENT VOLUNTEER ACTIVITIES FROM 2023-2024 TWO YEARS IN A ROW ® WORKING TOGETHER. BUILDING SUCCESS. 9 CROSS $10 BILLION NASDAQ: PEBO 2023 PREPARING TO 2025 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 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) Cloud native business and commercial loan origination system (nCino) Implementing Governance, Risk & Compliance system (AuditBoard) 1 PREMIUM 2 4 10 FINANCE some business processes 2022-2023 ACQUISITIONS COMPLETED 14 BANKS EQUIPMENT LEASING SINCE 2011 INSURANCE INVESTMENT

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