Peoples Bancorp Inc. · NASDAQ:PEBO
Peoples Bancorp — Q3 2026 Earnings Presentation
40 slides from Peoples Bancorp's earnings presentation, Nov 3, 2026
Slide 1: Peoples Bancorp Investor Presentation 3rd Quarter
Peoples ¢) BANCORP INVESTOR PRESENTATION 3rd QUARTER
Slide 2: Safe Harbor Statement
Statements in this presentation which are not historical facts are “forward: looking statements” within the meaning of Section 274 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, The
Slide 3: Important Information for Investors and Shareholders
IMPORTANT INFORMATION FOR INVESTORS AND SHAREHOLDERS In connection with the proposed merger with Capital Bancorp, Ine. ("Capital"), Peoples intends to file with the SEC a Registration Statement on FormS-4 to’register the shares of Peoples common stack to be Issued in connection with the proposed tra
Slide 4: PEBO Snapshot and Geographic Profile
PEOPLES BANK GEOGRAPHIC PROFILE PEBO SNAPSHOT AS OF SEPTEMBER 30, 2026' ASSETS DEPOSITS $9.7 BILLION $7.4 BILLION MARKET CAP. LOANS, $1.3 BILLION $6.8 BILLION ASSETS UNDER FULL-SERVICE ‘ADMIN & MGMT BRANCH LOCATIONS $4.5 BILLION 127 @ PEOPLES BANK OFFICES ®@ PEOPLES BANKHEADQUARTERS @ CITIZENS BANK
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: 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 an
Slide 7: Awards and Community Recognition
Best Banks to Work For FIVE YEARS IN A ROW USA FIVE YEARS IN A ROW $8.5 MILLION+ AWARDED IN GRANTS AND SCHOLARSHIPS BY THE PEOPLES BANK FOUNDATION SINCE ITS INCEPTION IN 2003 THREE YEARS IN A ROW AMERICAN BANKER, Top-Performing Banks Forbes BEST-IN-STATE BANKS TWO YEARS IN A ROW $1 MILLION RAISED IN
Slide 8: Investment Rationale
INVESTMENT RATIONALE Wa 2 NIQUE 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 37 expertise in commercial, personal, life & health GALI Bouuesn un ‘© Wealth man
Slide 9: Investment Rationale: Dividend Opportunity and Disciplined Execution
INVESTMENT RATIONALE Am ATTRACTIVE OMMITTED TO DIVIDEND OPPORTUNITY DISCIPLINED EXECUTION © Targeting 40% to 50% payout ratio * Generate positive operating leverage under normal operating environment «. Gnkegrated snterprise vi * Dividend paid increased every year since 2015 management process © Bas
Slide 10: Strength in the Current Environment
10 STRENGTH IN THE CURRENT ENVIRONMENT (AS OF SEPTEMBER 30, 2026) DEPOSITS CREDIT 78% of our deposits were retail deposits (consumer and small businesses) * Average retail customer deposit relationshij * Median retail customer deposit relationshi 32,600 $26,200 Non-performing assets (NPAs) of 0.38%
Slide 11: Performance: Total Annual Return vs Peers
sek PERFORMANCE PEBO'S ANNUAL RETURN IS GREATER THAN PEERS FOR YEAR-TO-DATE, 1-YEAR AND 10-YEAR TOTAL ANNUAL RETURN AS OF SEPTEMBER 30, 2026 50% 28% iat 25% 25% 20% 16% 15% 15% 9% 10% 28% “ i iM ab 7 yrpe Year 10- Year =PEBO Proxy Peers S&P 500 “Total Return includes impact of ividends.. Peers inclu
Slide 12: Net Interest Margin vs Peer Group
=@ a FT INTEREST MARGIN NASDAt PEBO IS IN THE TOP QUARTILE OF THE PEER GROUP IN TERMS OF NET INTEREST MARGIN DATA AS OF JUNE 30, 2026 PEER GROUP - NET INTEREST MARGIN 6.00% 5.00% 4.00% UNIV. $1-S10 B AVERAGE: 374% 3.00% 2.00% 1.00% 0.00% <QECo ens eEuk ae MSS EGE ES EebegeeseeseePsCrtse Rees SESHERE
Slide 13: Deposits: Cost of Deposits vs Peers
DEPOSITS NASDAQ: PEBO. Om PEBO IS BELOW THE AVERAGE $1 - $10 BILLION BANK UNIVERSE IN TERMS OF COST OF DEPOSITS DATA AS OF JUNE 30, 2026 PEER GROUP - TOTAL DEPOSIT COST (%) 3.00% 2.50% 2.00% UNIV. S1-$10 B AVERAGE: 190% 1.50% 1.00% 0.50% 0.00% Aaland ese Gee eae oe ae BEPZSERERZELEZZER ER EELS BS"Es
Slide 14: Loan Yield vs Peers
fa ELD PQ) 1000: PEBO IS ABOVE THE AVERAGE OF THE PEER GROUP IN TERMS OF LOAN YIELD DATA AS OF JUNE 30, 2026 PEER GROUP - LOAN YIELD 7.50 os 6.50 5.50 4.50 4.48 3.50 FY-22 FY-23 FY-24 FY-25 a1 2026 a2 2026 —@=Avg. $1-$10 Billion Universe —=®=PEBO —®=Peer Average *°S¥40 Bill Universe reflects such ba
Slide 15: Loan-to-Deposit Ratio vs Peers
LOANTO-DETOS RATI oe 2) ae PEBO |S NEAR THE AVERAGE OF THE $1-S10 BILLION BANK UNIVERSE IN TERMS OF LOAN-TO-DEPOSIT RATIO. DATA AS OF JUNE 30, 2026 PEER GROUP - LOAN-TO-DEPOSIT RATIO 120% 100% 91.49% UNIV. $I-$10 B AVERAGE: 88.52% 80% 60% 40% 20% 0% SHS SEES HYYSEEAZERSSzEzEYR BZESSere see Eb ees e2
Slide 16: Tangible Book Value Per Share
RETURN ON AVERAGE ASSETS m=) NASDAQ: PEBO PEBO CONTINUES TO GROW TANGIBLE BOOK VALUE! TANGIBLE BOOK VALUE PER SHARE $25.00 $20.00 $15.00 $10.00 ia $5.00 $0.00 Fy-22 FY-23 Fy24 FY25 YTD-26 "Non-US GAAP financial measure, See Appendix. 6
Slide 17: Credit Risk Management Process
CREDIT RISK MANAGEMENT PROC! LOANS & LEASES’ PORTFOLIO COMPOSITION MANAGEMENT & MONITORING + Robust concentration management focused on porttolio risk diversification + Clear segregation of duties between sales & credit functions * Relationship based lending + Signature approval process with Credit
Slide 18: Asset Quality
ASSET QUALITY Wa 2 ASSET QUALITY METRICS HAVE BEEN WELL MANAGED NPAs AS A PERCENT OF TOTAL ASSETS. CRITICIZED AND CLASSIFIED LOANS: és mn 008 seo po 00% aasow s — 208 3 = oom 008 en = Ea wo = 208 com ” si r "Includes construction “inaccardance with FFIEC reporting methodologies. Criticized loans inc
Slide 19: CRE Concern: Exposure vs Supervisory Criteria
TA Fist TWP EOBN CONE CRE CONCERN NASDAQ: PEBO. Om CRE AND CONSTRUCTION EXPOSURES ARE WELL BELOW SUPERVISORY CRITERIA AND THE AVERAGE FOR SI1OB BANKS DATA AS OF JUNE 30, 2026 CRE LOANS / RISK-BASED CAPITAL. THF 300% IS THE LEVEL CONSIDERED HEIGHTENED CRE CONCENTRATION RISK PER SUPERVISORY GUIDANCE 2
Slide 20: Loan Composition
mQ 20 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 ~ 43% 2 CONSUMER, INDIRECT - 36% 3 HOME EQUITY LINE OF CREDIT ~ 1
Slide 21: Total C&I Portfolio and Loan Composition
TOTAL C&l PORTFOLIO = $17 BILLION kune =Bwarna GEOGRAPHIC DISPERSION OF TOTAL LOAN E) my ™ . Data 3s of September 30,2026. es owsun FOOD SERVICES - 28% CREDIT INTERMEDIATION ~ 12% LIFE PREMIUM FINANCE - 69% MANUFACTURING MACHINERY ~ 49% AMBULATORY HEALTH ~ 3% ‘CARE SERVICES ‘SPECIALTY TRADE CONTRACT
Slide 22: Crossing $10 Billion
CROSS Yo BILLION NASDAQ: PEBO oS 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 ACQUISITIONS COMPLETED 2023 Implement
Slide 23: Acquisition of Citizens National Corporation
ACQUISITION OF CITIZENS NATIONAL CORPORATION Citizens ww Denk of hentucky HIGHLIGHTS AS OF SEPTEMBER 30, 2026 9 fn PAINTSVILLE, KY 12 HEADQUARTERS BRANCHES 6 & $646.2 MILLION 62% TOTAL ASSETS LOANS / DEPOSITS S 2, $343.5 MILLION $551.4 MILLION TOTAL LOANS TOTAL DEPOSITS NASDAQ: PEBO () Hi ANNOUNCED
Slide 24: Acquisition of Capital Bancorp
ACQUISITION OF CAPITAL BANCORP 1) NASDAQ: PEBO @ AP IT. AL ANNOUNCED SEPTEMBER 30, 2026 ‘* Capital offers a diversified business model with four distinct segments: Commercial Banking, OpenSky™, Windsor Advantage™ and Capital Bank B N Home Loans. L \ K ‘© The combined company is expected to have appr
Slide 25: Acquisition of Capital Bancorp: Strategic Combination
ACQUISITION OF CAPITAL BANCORP os 2) ae STRATEGIC COMBINATION CREATES A MORE DIVERSIFIED FINANCIAL SERVICES FRANCHISE WITH GREATER SCALE, EXPANDED MID-ATLANTIC PRESENCE AND COMPLEMENTARY NATIONWIDE BUSINESSES Capabilities: Peoples @) esr sascow.c. | MEANINGFUL REVENUE OPPORTUNITIES: CAPIT: Governmen
Slide 26: Q3 2026 Highlights & Key Impacts
Q3 2026 HIGHLIGHTS & KEY IMPACTS m=) NASDAQ: PEBO- AVERAG NET INTERES RETURN ON mee) 136% (3 2026 36%! MARGIN » 431% NET COME ) S37 6 MILLION te mstraotencnmensus NET CHARGE-OFFS » 0.35% OF AVERAGE TOTAL LOANS EFFICIENCY RATIO » 98.9% LOANTO Ii Wreypeyey, DEPOSIT RATIO 1770 26 _*Retumon average asse
Slide 27: Improvement in Key Metrics
IMPROVEMENT IN KEY METRICS NASDAQ: PEBO. Om ESCALATION IN EXPENSE WAS DUE TO ‘ACQUISITIONS AND ORGANIC GROWTH EFFICIENCY RATIO ADJUSTED CORE NON-INTEREST EXPENSE’ FOR NON-CORE ITEMS! -| [ I | ‘bent RETURN ON AVERAGE TANGIBLE STOCKHOLDERS’ RETURN ON AVERAGE ASSETS (ROAA) ADJUSTED FOR NON-CORE ITEMS!
Slide 28: Total Revenue
TOTAL REVENUE (@) NASDAQ: PEBO _——_ $365 MILLION IN TOTAL REVENUE IN THE FIRST NINE MONTHS OF 2026 $500,000 $400,000 + $300,000 $200,000 $100,000 so | FY-22 FY-23 FY-24 FY-25 YTD-26 MNET INTEREST INCOME ™NON-INTEREST INCOME, EXCLUDING GAINS AND LOSSES* “Nom US GAAP financial measure. See Appendie.
Slide 29: Non-Interest Revenue Composition
NON-INTEREST REVENUE COMPOSITION i NASDAQ: PEBO Om SOURCES OF FEE BASED INCOME NON-INTEREST INCOME TOTAL INSURANCE REVENUE YTD 2026 YTD 2026 $88 MILLION TOTAL INVESTMENT REVENUE $14.1 MILLION YTD 2026 $17.8 MILLION 1 BROKERAGE ~ 45% 2 FIDUCIARY ~ 41%, 3 EMPLOYEE BENEFITS ~ 149% 1 COMMERCIAL - 59% 2
Slide 30: Total Loan Growth
TOTAL (BAN GROWTH (@) NASDAQ: PEBO TOTAL LOANS’ WERE $6.8 BILLION AS OF SEPTEMBER 30, 2026 $7,000 (LIMESTONE ACQUIRED LOANS MMM VANTAGE ACQUIRED LEASES: $3,500 HE TOTAL LOANS ORIGINATED es FY-22 FY25 FY-23 FY-24 YTD-26 ‘Also referred to throughout this document as “total loans and leases" and “loans
Slide 31: Deposit Growth
($ MILLIONS) $9,000 $6,000 $3,000 DEPOSIT GROWTH NASDAQ: PEBO. () ) | 36% OF DEPOSIT BALANCES AS OF SEPTEMBER 30, 2026 WERE DEMAND DEPOSIT ACCOUNTS (DDAS), INCLUDING $1.6 BILLION OF NON-INTEREST BEARING DDAS Fy-22 FY-23 Fy28 *DDAs represent interest-bearing and nominterest bearing transaction accoun
Slide 32: Financial Expectations 2026-2027
2026 - 2027 FINANCIAL EXPECTATIONS 2026 2021 + ce ANTICIPATED TO BE BETWEEN 4.20% NET INTEREST i ae eeepay ASSUMES A MARGIN AND 4.30% FOR THE FULL YEAR OF 202¢ FEDERAL RE: INLATE =@ ‘ANOTHER IN SEPTEMBER 202 FEE-BASED INCOME ANTICRSTE # SUGHT REDUCOON RI OURNET CHARGE OFFS ANTICIPATE SIMILAR CHARGE-
Slide 33: More Than Just a Bank
MORE THAN JUST A BANK os 2) ae Peop. ples 7) —— BANCORP LOCATIONS IN OHIO, WEST VIRGINIA, KENTUCKY, VIRGINIA, WASHINGTON D.C. AND MARYLAND Peoples @, Peoples @, Peoples (@) —\— BANK INSURANCE’ —— WVESTMENTSERVICES: NATIONWIDE SPECIALTY FINANCE DIVISIONS Peoples@), Peoples@), —— LIFE PREMIUM FINANCE
Slide 34: Q3 2026 Appendix
@, 03.2026 APPENDIX
Slide 35: Non-US GAAP Measures: Core Non-Interest Income and Expense
PENDIX NON-US GAAP MEASURES NASDAQ: PEBO (Q) CORE NON-INTEREST INCOME Core non-interest income is a financial measure used by Peoples’ recurring norvinterest revenue stream. This measure is non-US GAAP since it excludes the impact of all ains and/or losses. (Sin Thousands) FY22 FY223 FY24 FY-25 YTD-
Slide 36: Non-US GAAP Measures: Efficiency Ratio
APPENDIX NON-US GAAP MEASURES @ NASDAQ: PEBO EFFICIENCY RATIO AND ADJUSTED FOR NON-CORE ITEMS The efficiency rato is a 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
Slide 37: Non-US GAAP Measures: Tangible Equity and Book Value
PENDIX NON-US GAAP MEASURES NASDAQ: PEBO (@) TANGIBLE EQUITY TO TANGIBLE ASSETS AND TANGIBLE BOOK VALUE PER SHARE Peoples uses tangible capital measures to evaluate the adequacy of Peoples’ stockholders’ equity. Such ratios represent non-US GAAP financial measures since the calculation removes, the
Slide 38: Non-US GAAP Measures: Return on Average Equity
38 @ NASDAQ: PEBO APPENDIX NON-US GAAP MEASURES 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, acqui
Slide 39: Non-US GAAP Measures: Return on Average Assets
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 ail gains and losses, COVID-9-related expenses, COVID-19 e
Slide 40: Contact Information
Peoples (Q@) BANK TYLER WILCOX President and Chief Executive Officer 740.373.7737 [email protected] KATIE BAILEY Executive Vice President Chief Financial Officer and Treasurer 740.376.7138 [email protected] ‘The three arched ribbons iog i a federally registered service mark of Peoples Bank.