NASDAQ: PEBO INVESTOR PRESENTATION 4TH QUARTER 2019 NASDAQ: PEBO 11

NASDAQ: PEBO WORKING TOGETHER BUILDING SUCCESS

NASDAQ: PEBO SAFE HARBOR STATEMENT 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 fis- cal year ended December 31, 2019 (the “2019 Form 10-K”), which is available on the Securities and Exchange Commission’s (“SEC”) website (www.sec.gov) or at Peoples’ website (www.peoplesbancorp.com). Investors are cautioned that forward-looking statements, which are not historical fact, involve risks and uncertainties, including those detailed in Peoples’ 2019 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 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. 2

PROFILENASDAQ: PEBO INVESTMENT PROFILE, INVESTMENT RATIONALE, RATIONALECULTURE AND STRATEGY CULTURE STRATEGY3

CORPORATE PROFILE PROFILE NASDAQ: PEBO FINANCIAL HOLDING COMPANY HEADQUARTERED IN MARIETTA, OHIO Provides a broad range of banking, insurance and investment services. CURRENT SNAPSHOT: CURRENT FOOTPRINT: INVESTMENT Assets: $4.4 billion; Loans: $2.9 billion Demographics: Unemployment: Deposits: $3.3 billion Median Income: $52,112 OH: 4.1% Market Capitalization: $717.4 million KY: 4.3% Key Industries: Assets Under Admin/Mgmt: $2.5 billion WV: 5.1% Health Care US: 3.6% Manufacturing (plastics/petrochemicals) Oil/Gas/Coal Activities (shale opportunities) RATIONALE Tourism CULTURE Market data as of December 31, 2019. Unemployment data from https://www.bls.gov/lau as of December 2019. Financial data as of December 31, 2019. ® STRATEGY WORKING TOGETHER. BUILDING SUCCESS. 4

GEOGRAPHIC FOOTPRINT NASDAQ: PEBO PEBO GEOGRAPHIC FOOTPRINT Cleveland Peoples’ footprint includes full service branches in 75 Ohio, West Virginia and Kentucky. Akron 77 Coshocton Indicates footprint added by the Cambridge First Prestonsburg Bancshares Inc. Columbus (“First Prestonsburg”) acquisition. 70 Caldwell 71 New Martinsville 33 Marietta Wilmington 50 Athens Vienna Cincinnati Parkersburg Jackson Pomeroy 79 32 Portsmouth Point Pleasant 75 Ashland Huntington 64 421 77 Prestonsburg 5

PEBO MARKET INSIGHT NASDAQ: PEBO PEBO MARKET INSIGHT DEPOSIT DEPOSIT MARKET MSA RANK ($000)* SHARE (%) MARIETTA, OH 1 884,414 52.05% CAMBRIDGE, OH 1 225,591 34.35% Strongest deposit market share positions in more • WILMINGTON, OH 1 199,573 32.56% rural markets where we can affect pricing PRESTONSBURG, KY 1 162,231 32.67% CALDWELL, OH 1 103,163 43.13% • Presence near larger cities puts us in position to NEW MARTINSVILLE, WV 2 89,831 24.17% capture lending opportunities in more urban POMEROY, OH 2 62,897 23.61% COSHOCTON, OH 2 105,915 20.69% markets (e.g. Cleveland, Akron, Canton, Cincinnati PORTSMOUTH, OH 3 116,526 14.71% and Columbus) POINT PLEASANT, WV 3 84,507 22.89% ATHENS, OH 3 88,287 12.34% JACKSON, OH 4 63,130 15.39% PARKERSBURG / VIENNA, WV 7 117,013 7.08% CINCINNATI, OH-KY-IN 14 424,205 0.31% HUNTINGTON / ASHLAND, WV-KY-OH 14 151,744 2.52% AKRON, OH 19 84,508 0.57% CLEVELAND / ELYRIA, OH 24 104,320 0.14% COLUMBUS, OH 27 101,525 0.16% OTHER 213,866 TOTAL 3,383,246 Source: FDIC Annual Summary of Deposits @ 6/30/19. MSA data corresponds to county level data where the city is located for the first thirteen cities listed. The last five cities listed are at the MSA level. ® WORKING TOGETHER. BUILDING SUCCESS. 6

INVESTMENT RATIONALE NASDAQ: PEBO UNIQUE COMMUNITY BANKING MODEL • Greater revenue diversity (32% non-interest income, excluding gains and losses) than the average $1 - 10 billion bank • Strong community reputation and active involvement • Local market teams capable of out-maneuvering larger banks • More sophistication and product breadth than smaller banks (insurance, retirement plans, swaps, etc.) STRONG, DIVERSE BUSINESSES EARNING NON-INTEREST INCOME • 20th largest bank-owned insurance agency, with expertise in commercial, personal, life and health • Wealth management – $2.5 billion in assets under administration and management, including brokerage, trust and retirement planning CAPACITY TO GROW OUR FRANCHISE • Strong capital and fundamentals to support M&A strategy • Proven integration capabilities and scalable infrastructure COMMITTED TO DISCIPLINED EXECUTION • Strong, integrated enterprise risk management process • Dedicated to delivering positive operating leverage • Focused on business line performance and contribution, operating efficiency and credit quality ATTRACTIVE DIVIDEND OPPORTUNITY • Targeting 40% to 50% payout ratio • Dividend paid increased from $0.15 per share for Q1 2016 to $0.34 for Q4 2019 7

CORPORATE CULTURE NASDAQ: PEBO OUR VALUES OUR VISION PROMISE CIRCLE Our vision is to be the best community bank in America. Peoples' Employee Promise Circle represents how we do business and our never-ending pursuit of creating value for our clients. Our strategies to OUR MISSION serve clients and enhance shareholder value often change, but our values remain constant. We will work side by side to overcome challenges and seize CLIENTS FIRST opportunities. We listen and work with you. Together, we will build and execute thoughtful plans and actions, blending our INTEGRITY ALWAYS experience and expertise, to move you toward your goals. Our core difference is providing you peace of mind, confidence and RESPECT FOR ALL clarity in your financial life. COMMITMENT TO COMMUNITY LEAD THE WAY EXCELLENCE IN EVERYTHING ® WORKING TOGETHER. BUILDING SUCCESS. 8

STRATEGIC ROAD MAP NASDAQ: PEBO STRATEGIC ROAD MAP FOR BEST COMMUNITY BANK IN AMERICA • Commitment to Superior Shareholder Returns • Great Place to Work • Clients’ 1st Choice for Banking, Investing and Insurance • Meaningful Impact on Our Communities RESPONSIBLE RISK EXTRAORDINARY PROFITABLE FIRST CLASS MANAGEMENT CLIENT EXPERIENCE REVENUE GROWTH WORKPLACE • Embrace Risk Management • Delight the Client • Acquire, Grow and • Hire for Values Retain Clients • Know the Risks: Strategic, • Deliver Expert Advice • Strive for Excellence Reputation, Credit, Market, and Solutions • Earn Client Referrals • Invest in Each Other Liquidity, Operational, • Provide a Consistent • Understand Client Compliance • Promote a Culture Client Experience Needs and Concerns of Learning • Do Things Right the • Lead Meaningful • Live the Sales and • Coach in Every Direction First Time Client Reviews Service Processes • Raise Your Hand • Recognize and Reward • Evolve the Mobile • Value Our Skills and Performance • Discover the Root Cause Experience Expertise • Balance Work and Life • Excel at Change • DWYSYWD • Operate Efficiently Management • Cultivate Diversity • Execute Thoughtful Mergers and Acquisitions • Spread Goodness 9

STOCK PERFORMANCE NASDAQ: PEBO 35% 35% TOTAL ANNUAL RETURN AS OF DECEMBER 31, 2019 31% 30% 30% 27% PEBO 25% 25% 25% 24% PEER GROUP RUSSELL 2000 FINANCIAL SERVICES 20% 20% 20% RUSSELL 2000 17% S&P 500 15% 15% 15% 15% 14% 13% 12% 12% 12% 10% 10% 9% 9% 9% Total Return includes impact of dividends 8% Peers include: SRCE, CHCO, CCNE, CTBI, FMNB, FISI, 6% FCF, FDEF, THFF, FRME, GABC, HBNC, LKFN, PRK, 5% 5% 5% STBA, SYBT, TMP, TSC, UCFC, NWBI, SMMF 4% Source: Bloomberg 0% 0% 1-YEAR 3-YEAR 5-YEAR 10-YEAR ® WORKING TOGETHER. BUILDING SUCCESS. 10

STRATEGICNASDAQ: PEBO STRATEGIC PRIORITIES AND PRIORITIESFINANCIAL RESULTS FINANCIAL RESULTS11

STRATEGIC PRIORITIES NASDAQ: PEBO STRATEGIC POSITIVE OPERATING LEVERAGE • Expand revenue versus expense growth gap beyond 2% (PAGE 18) • Focused on sustainable revenue growth (PAGE 19) • Disciplined expense management (PAGE 20) • Drive core efficiency ratio below 60% (PAGE 21) • Preserve key metrics (PAGE 22) SUPERIOR ASSET QUALITY • Maintain metrics superior to most of our peers (PAGE 23) • Balance growth with prudent credit practices (PAGES 24-25) PRIORITIES Improve diversity within the loan portfolio (PAGES 26-28) • HIGH QUALITY BALANCE SHEET • Achieve meaningful loan growth each year (PAGE 29) • Maintain emphasis on core deposit growth (PAGES 30-31) • Adjust earning asset mix by shifting investments to loans (PAGE 32) FINANCIAL • Prudent use of capital – dividends, share repurchases and acquisitions (PAGE 33) ® RESULTS WORKING TOGETHER. BUILDING SUCCESS. 12

STRATEGIC TARGETS NASDAQ: PEBO 3-YEAR STATUS YTD YTD STRATEGIC AS OF METRICS 12/31/18 12/31/19 TARGET RANGE* 12/31/19 NPAs as a percent of total loans and OREO (1) 0.71% 0.76% 0.70% to 1.00% IMPROVE ASSET QUALITY Annualized net charge-offs as a percent of average total loans 0.15% 0.04% 0.30% to 0.50% Total loans to total assets 67.86% 65.50% 72.0% to 77.5% ADJUST BALANCE Total loans to total deposits 92.33% 87.50% 85.0% to 95.0% SHEET MIX Demand Deposit Accounts (DDAs) to total deposits 39.98% 39.71% 40.0% to 45.0% Borrowings to total funding 13.62% 10.84% 15.0% to 20.0% HIGH QUALITY, DIVERSIFIED Total revenue growth versus prior year period 12.54% 10.11% 5% to 9% REVENUE STREAM Non-interest income, excluding gains and losses, to total revenue 30.63% 31.54% 35% to 40% Total stockholders’ equity to total assets 13.03% 13.65% 12% to 14% STRONG CAPITAL POSITION Tangible equity to tangible assets (2) 9.35% 9.98% 8% to 10% Net interest margin (3) 3.71% 3.69% 3.6% to 3.8% OPERATING LEVERAGE Efficiency ratio adjusted for non-core items (2) 61.32% 61.09% Below 60% Return on average stockholders' equity adjusted for non-core items (2) 10.46% 10.63% 11.5% to 13.0% Return on average assets adjusted for non-core items (2) 1.32% 1.42% 1.45% to 1.55% EXECUTE ON STRATEGIES Pre-provision net revenue adjusted for non-core items / total average assets (2) 1.77% 1.79% Over 1.80% Dividend payout (4) 46.65% 50.08% 40% to 50% (1) Nonperforming loans include loans 90+ days past due and accruing, renegotiated loans and nonaccrual loans. Nonperforming assets (NPAs) include nonperforming loans and Other Real Estate Owned (OREO). (2) Non-US GAAP financial measure. See Appendix. (3) Information presented on a fully tax-equivalent basis. (4) Dividend data reflects amounts declared with respect to earnings for the period indicated. 13 * Current 3 Year Strategic Planning Period = 2019-2021

FINANCIAL EXPECTATIONS NASDAQ: PEBO FINANCIAL EXPECTATIONS – 2020 • Organic loan growth of 5% to 7% for the full year of 2020. • We expect an increase in credit costs in 2020 as the historically-low charge-off levels are not sustainable. • We believe net interest margin will be between 3.45% and 3.55% for the first quarter of 2020. • Fee-based revenue growth is expected to be in the mid-single digits. • We expect core non-interest expense growth to be in the low single-digits, adjusted for non-core items. • Our target efficiency ratio for 2020 is between 60% and 62%. • We expect to generate positive operating leverage, adjusted for non-core items, for the full year. • We are actively seeking opportunities with other institutions and fee-based revenue businesses. ® WORKING TOGETHER. BUILDING SUCCESS. 14

NASDAQ: PEBO Q4 & YTD 2019 FINANCIAL PERFORMANCE 15

Q4 & YTD 2019 HIGHLIGHTS NASDAQ: PEBO Q4 & YTD 2019 PERFORMANCE HIGHLIGHTS • Successful close and conversion of First Prestonsburg • Return on average assets of 1.27% for 2019, adjusted return on average assets of 1.42% • Quarterly annualized net charge-off rate of 16 basis points and net charge-offs for the full year of 2019 of 4 basis points • Growth of 9% in net interest income compared to 2018 • Net interest margin for 2019 was 3.69% • Increase of 13% in non-interest income, excluding net gains and losses, compared to the to the full year of 2018 • Efficiency ratio, adjusted for non-core items, of 61.28% for the fourth quarter • Pre-provision net revenue (adjusted for non-core items) to total average assets was 1.79% for the full year of 2019 • Increase in tangible book value per share to $20.14 at December 31, 2019 from $18.30 at December 31, 2018 ® WORKING TOGETHER. BUILDING SUCCESS. 16

2019 BUSINESS SUMMARY NASDAQ: PEBO 2019 BUSINESS SUMMARY COMMERCIAL BANKING • Commercial loan swap fees have more than tripled for 2019 as compared to 2018 • Commercial loan production was up over 35% compared to 2018 • $25 million lending “house limit” although legal limit is over $50 million RETAIL BANKING • Deposit account service charges up 20% in 2019 as compared to 2018 • Electronic banking income up 19% in 2019 as compared to 2018 • Mortgage banking income up 30% in 2019 as compared to 2018 INSURANCE • Commercial Property and Casualty lines comprised 56% of insurance revenue for 2019 • Life and Health segment comprised 14% of insurance revenue for 2019 TRUST AND INVESTMENTS • $2.5 billion in assets under administration and management • Greater than 10% annual revenue growth, on average, for each of the last six years • Retirement plan services income was up 12% compared to 2018 17

ADJUSTED OPERATING LEVERAGE NASDAQ: PEBO ACHIEVED POSITIVE OPERATING LEVERAGE, ADJUSTED FOR NON-CORE ITEMS,Adjusted FOR THE Operating FULL YEAR Leve OF rage2019. Versus the VERSUSsame quarter THE inPRIOR the prior YEAR, ye arADJUSTED OPERATING VeLEVERAGErsus the prior WAS ye ar POSITIVE FOR FISCAL YEARS 2016 THROUGH 2019. 5% 4% 3% 2% 1% 0% FY-16 FY-17 FY-18 FY-19 Adjusted operating leverage is a non-US GAAP financial measure calculated as the difference between total revenue (which is net interest income plus total non interest income (excluding all gains and losses)) growth and non-interest expense growth, on a percentage basis, excluding the impact of acquisition-related expenses and pension settlement charges. ® WORKING TOGETHER. BUILDING SUCCESS. 18

TOTAL REVENUE GROWTH NASDAQ: PEBO TOTAL REVENUE OF $206 MILLION FOR FY-19 $250,000 Beginning in the second quarter of 2018, Peoples benefited from the acquisition of ASB $200,000 $64,892 Financial Corp (“ASB”). Additionally, beginning $57,234 in the second quarter of $150,000 $52,653 2019, Peoples benefited $51,070 from the acquisition of $47,441 $140,838 First Prestonsburg. $129,612 $100,000 $40,053 $113,377 $104,865 ($ THOUSANDS) $97,612 $50,000 $69,506 $0 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 NET INTEREST INCOME NON-INTEREST INCOME, EXCLUDING GAINS AND LOSSES 19

CORE NON-INTEREST EXPENSE* NASDAQ: PEBO THE RECENT ESCALATION IN EXPENSES WAS DUE TO ACQUISITIONS, OUR MOVE TO A $15 MINIMUM WAGE, AND AN INCREASE IN FTE’S FOR GROWTH AND TECHNOLOGY INVESTMENTS. Core Non-Interest Expense* $150,000 $7,287 $125,000 $100,000 CORE NON-INTEREST EXPENSES* $75,000 EXPENSES RESULTING FROM ACQUISITIONS** ($ THOUSANDS) NOT TO SCALE TO NOT ($ THOUSANDS) $50,000 FY-14** FY-15** FY-16 FY-17 FY-18** FY-19** * Non-US GAAP financial measure. See Appendix. **2014, 2015, 2018 and 2019 included a partial quarter of expenses resulting from the Midwest Bancshares, Inc. (2014), Ohio Heritage Bancorp, Inc. (2014), North Akron Savings Bank (2014), National Bank and Trust (2015), American Savings Bank (2018), and First Prestonsburg (2019) acquisitions, respectively, such as salaries and occupancy expenses. ® WORKING TOGETHER. BUILDING SUCCESS. 20

EFFICIENCY RATIO ADJUSTED FOR NON-CORE ITEMS* NASDAQ: PEBO Efficiency Ratio Adjusted for Non-Core Items* EFFICIENCY RATIO, ADJUSTED FOR NON-CORE ITEMS, HAS IMPROVED AS A RESULT OF EXPENSE CONTROL AND REVENUE GROWTH. 70% 69% 69.55% 68% 67% 67.49% 66% 65% 64% 64.30% NOT TO SCALE TO NOT 63% 62% 61.85% 61% 61.32% 61.09% 60% FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 *The efficiency ratio adjusted for non-core items is defined as core non-interest expense (less amortization of other intangible assets) as a percentage of fully tax-equivalent net interest income plus core non-interest income excluding all gains and losses. This amount represents a non-US GAAP financial measure since it excludes the impact of all gains and/or losses, acquisition-related expenses, pension settlement charges, amortization of other intangible assets and uses fully tax-equivalent net interest income. See Appendix. 21

IMPROVEMENT IN KEY METRICS NASDAQ: PEBO FOCUS ON STEADILY GROWING LOANS AND DEPOSITS, MANAGING EXPENSES AND INCREASING OPERATING LEVERAGE HAS RESULTEDImprovImprement IN ovIMPROVEMENTement In Key In Metrics Key IN Metrics KEY FINANCIAL METRICS. ImprovementImprov Inement Key Metrics In Key Metrics Return onR eturnAvRETURNerage on AssetsAv erONage AVERAGEA djustedAssets Afordjusted ASSETS Non-Core for Non-Core Items Items RETURNReturn on ONR eturnAv erageAVERAGE on TaAvngibleerage TANGIBLE StTaockholderngible STOCKHOLDERS’Stockholders’ s’ EQUITY 1 1 Return onADJUSTED Average Assets FOR A djustedNON-CORE for Non-Core ITEMS Items ReturnEqui tyon AdjusAvEqADJUSTEDerageuitetyd AdjusTaforngible Non-te FORd Co Stfoockholderrer NON-CORE Non- ItemsCores’ Items ITEMS Return on Average Tangible Stockholders’ Return on Average Assets Adjusted for Non-Core Items Equity Adjusted for Non-Core Items 2.0% 2.0% 16% 16% Equity Adjusted for Non-Co15.48%re Items15.39% 2.0% 16% 2.0% 14% 14%16% 1.5% 1.5% 1.42% 1.32% 14% 1.5% 14% 1.5% 1.08% 12% 12% 11.43% 11.30% 11.40% 0.93% 0.97% 1.0% 1.0% 12% 12% 1.0% 0.62% 10% 10% 1.0% 10% 0.5% 0.5% 8% 8%10% NOT TO SCALE TO NOT 7. 32% 0.5% 0.5% 8% 8% 0.0% 0.0% 6% 6% 0.0% FY-14 FY-1FY5-14 FY-1FY6-15 FY-1FY7-16 FY-1FY8-17 FY-1FY9-18 FY-19 6% FY-14 FYFY-15-14 FYFY-16-15 FYFY-17-16 FYFY-18-17 FYFY-19-18 FY-19 0.0% 6% FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 1 TANGIBLETangible BOOK BookTangibleVALUE Value PERBook Pe rSHAREValue Share Per Share PPNR ADJUSTED FOR NON-CORE ITEMS $21 $21 1 Tangible Book Value Per Share PPNR TO TOTAL AVERAGE ASSETS ADJUSTE2.25D FOR% NON-CORE2.25% ITEMS Tangible Book Value Per Share $80 $80 $2$201 $20 $20.14 $80 2.25% $21 $70 $70 $20 $80 $75.8 2.25% $19 $19$20 2.00% 2.00% $70 $68.4 $19 $60 $60$70 $18 $18 $18.30 2.00% $19 $60 2.00% $18 $50 $50$60 $58.6 1.75% 1.75% $17 $17$18 $17.17 $50 $50.4 1.75% $40 $40 $167 $16 $50 1.75% $17 1.50%1.79% 1.50% $15.89 $40 $41.6 1.77% $16 $15.57 $30 $30$40 $15 $15$16 1.67% 1.50% NOT TO SCALE TO NOT $30.8 1.50% $15 $14.68 $2$30 ($ MILLIONS) $20 1.25% 1.25% $14 $14$15 SCALE TO NOT $30 1.34% 1.52% FY-14 FYFY-15-14 FYFY-16-15 FYFY-17-16 FYFY-18-17 FYFY-19-18 FY-19 $20 FY-14 FYFY-15-14 FYFY-16-15 FYFY-17-16 FYFY-18-17 FYFY-19-18 1.25FY%-19 $14 1.37% $14 $20 1.25% FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 ® 1 Non-US GAAP financial measure. See Appendix. WORKING TOGETHER. BUILDING SUCCESS. 22

ASSET QUALITY – NPAS / ASSETS NASDAQ: PEBO NPAS AS A PERCENTAGE OF TOTAL ASSETSAsset HAVE Qualit CONSISTENTLYy - NPAs /ABEENssets SUPERIOR TO MIDWEST BANKS WITH $1 TO $10 BILLION IN TOTAL ASSETS. 1.4% 1.2% 1.0% 0.8% 0.57% 0.56% 0.6% 0.50% 0.49% 0.48% 0.49% 0.47% 0.46% 0.46% 0.45% 0.48% NPAS / ASSETS NPAS 0.4% 0.2% 0.0% Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 $1 TO $10 BILLION MIDWEST BANKS PEBO Source: S&P Global Market Intelligence. Nonperforming assets include loans 90+ days past due and accruing, renegotiated loans, nonaccrual loans, and other real estate owned. 23

NPA COMPOSITION NASDAQ: PEBO NPA Composition NPAS AT 12/31/19 WERE PRIMARILY COMPOSED OF WELL-COLLATERALIZED COMMERCIAL REAL ESTATE AND RESIDENTIAL REAL ESTATE LOANS, CONSISTENT WITH TREND NOTED IN RECENT QUARTERS. $30 $25 $20 $15 $ MILLIONS $10 $5 $0 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 CRE RESIDENTIAL C&I HELOC CONSUMER ® WORKING TOGETHER. BUILDING SUCCESS. 24

ASSET QUALITY NASDAQ: PEBO CRITICIZED LOANS AS A PERCENT OF TIER 1 CAPITAL AND ALLL HAVE BEEN AT OR NEAR AN 18-YEAR LOW. Asset Quality 50% CRITICIZED LOANS / TIER 1 CAPITAL + ALLL * 45% 39.16% 40% CLASSIFIED LOANS / 35% TIER 1 CAPITAL + ALLL * 29.89% 30% 28.10% 25.61% 25% 28.72% 21.22% 19.34% 20% 17.23% 17.40% 14.49% 15% 13.14% *In accordance with SEC 10.78% reporting methodologies. 10% Criticized loans includes loans categorized as special mention, substandard or doubtful. 5% Classified loans includes loans categorized as substandard or doubtful. 0% FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 25

CRE CONCENTRATION ANALYSIS NASDAQ: PEBO CRE EXPOSURE IS WELL BELOW SUPERVISORY CRITERIA ESTABLISHED TO IDENTIFY INSTITUTIONS WITH HEIGHTENED CRE CONCENTRATION RISK. CRE Concentration Analysis • Exposure levels also compare favorably to peer institution concentration levels. • Concentration levels have improved relative to peers on a linked quarter basis. 400% PEER BANK SUBS – CRE LOANS / RISK-BASED CAPITAL 350% 300% 300% IS THE LEVEL 250% CONSIDERED HEIGHTENED 220% CRE CONCENTRATION RISK 200% PER SUPERVISORY 150% 118% GUIDANCE 100% 50% 0% STBA TSC FDEF CCNE TMP FCF SYBT UniverseCHCO FISI GABC FRME HBNC LKFN SMMF UCFC CTBI PRK NWBI THFF FMNB PEBO SRCE $1–$10 B Source: S&P Global Market Intelligence, Commercial Bank Call Report Data as of 12/31/19. Per April 2013 OCC-FRB Guidance. CLD Loans defined as total loans for construction, land and land development. CRE Loans defined as total non-owner-occupied CRE loans (including CLD). Peer financial institutions are used in this presentation. The parent holding companies of these financial institutions did not comprise the peer group of financial institution holding companies used by Peoples’ Compensation Committee in analyzing and setting executive compensation for 2019. Note: For the following peers, 12/31/19 data was not required to be reported for banks less than $3.0 billion, so the data above represents the most recent that is available for these peers: UCFC, SMMF, FMNB. ® WORKING TOGETHER. BUILDING SUCCESS. 26

CRE CONCENTRATION ANALYSIS NASDAQ: PEBO PEER BANK SUBS – CONSTRUCTION, LANDCRE AND Concentration LAND DEVELOPMENT Analysis LOANS / RISK-BASED CAPITAL 110% 100% 90% 100% IS THE LEVEL CONSIDERED HEIGHTENED CONSTRUCTION, 80% LAND AND LAND DEVELOPMENT CONCENTRATION RISK PER 70% SUPERVISORY GUIDANCE 60% 50% 45% 40% 30% 21% 20% 10% 0% CCNE FDEF UCFC FISI SYBT FRME TSC LKFN SMMF Universe THFF STBA TMP GABC PRK HBNC FCF FMNB CTBI PEBO NWBI CHCO SRCE $1–$10 B Source: S&P Global Market Intelligence, Commercial Bank Call Report Data as of 12/31/19. Per April 2013 OCC-FRB Guidance. CLD Loans defined as total loans for construction, land and land development. CRE Loans defined as total non-owner-occupied CRE loans (including CLD). Peer financial institutions are used in this presentation. The parent holding companies of these financial institutions did not comprise the peer group of financial institution holding companies used by Peoples’ Compensation Committee in analyzing and setting executive compensation for 2019. Note: For the following peers, 12/31/19 data was not required to be reported for banks less than $3.0 billion, so the data above represents the most recent that is available for these peers: UCFC, SMMF, FMNB. 27

LOAN COMPOSITION NASDAQ: PEBO LOAN COMPOSITION REFLECTS HEALTHY RISK DIVERSITY. Loan Composition TOTAL LOAN PORTFOLIO* = $2.9 BILLION TOTAL CRE PORTFOLIO** = $0.8 BILLION Loan Portfolio (Excluding Deposit Overdrafts) Commercial Real Estate Portfolio Commercial Real Estate Portfolio 6 7 1 5 12 11 4 2 1 10 9 3 3 8 4 5 7 2 6 1 COMMERCIAL REAL ESTATE (CRE) 29.0% 5 CONSUMER, INDIRECT 14.5% 1 MULTI FAMILY 10% 7 RETAIL 11% 2 COMMERCIAL & INDUSTRIAL 23.1% 6 CONSUMER, DIRECT 2.7% 2 MIXED USE 13% 8 LODGING 5% 3 RESIDENTIAL REAL ESTATE 23.0% 7 CONSTRUCTION 3.1% 3 LIGHT INDUSTRIAL 9% 9 WAREHOUSE 8% 4 HOME EQUITY LINES OF CREDIT 4.6% 4 CHILD CARE 2% 10 ASSISTED LIVING 5% 5 EDUCATIONAL SERVICES 2% 11 LAND 2% 6 OFFICE 18% 12 OTHER 14% Source: S&P Global Market Intelligence, Commercial Bank Call Report Data as of 12/31/19. Per April 2013 OCC-FRB Guidance. CLD Loans defined as total loans for construction, land and land development. CRE Loans defined as total non-owner-occupied CRE loans (including CLD). Peer financial institutions are used in this presentation. The parent holding companies of these financial institutions did not comprise the peer group Data as of December 31, 2019. of financial institution holding companies used by Peoples’ Compensation Committee in analyzing and setting executive compensation for 2019. *Excludes deposit overdrafts. **Total CRE includes commercial real estate and construction loans, and exposure includes commitments. Note: For the following peers, 12/31/19 data was not required to be reported for banks less than $3.0 billion, so the data above represents the most recent that is available for these peers: UCFC, SMMF, FMNB. ® WORKING TOGETHER. BUILDING SUCCESS. 28

TOTAL LOAN GROWTH NASDAQ: PEBO TOTAL LOAN GROWTH OF 5% FOR 2019 COMPARED TO 2018. Total Loan Growth $3,000 $2,600 TOTAL LOANS EXCEPT ASB & FIRST PRESTONSBURG $2,200 ASB ACQUIRED LOANS FIRST PRESTONSBURG ACQUIRED LOANS $1,800 AVERAGE LOAN BALANCES ($ MILLIONS) NOT TO SCALE TO NOT ($ MILLIONS) $1,400 $1,000 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 29

DEPOSIT GROWTH NASDAQ: PEBO TOTAL DEPOSITS WERE UP 11% COMPARED TO DECEMBER 31, 2018. FOR THE QUARTER ENDED DECEMBERDeposit 31, 2019, Growth COST OF DEPOSITS WAS 0.66%. $4,000 BROKERED CERTIFICATES OF DEPOSIT $3,350 $3,291 GOVERNMENTAL DEPOSIT ACCOUNTS MONEY MARKET DEPOSIT ACCOUNTS $2,955 $2,730 RETAIL CERTIFICATES OF DEPOSIT $2,700 $2,536 $2,510 SAVINGS ACCOUNTS INTEREST-BEARING DDAS* $2,050 $1,933 NON-INTEREST-BEARING DDAS* $1,400 ($ MILLIONS) NOT TO SCALE TO NOT ($ MILLIONS) 40% $750 DDAs $100 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 *DDAs stands for demand deposit accounts and represents interest-bearing and non-interest bearing transaction accounts. ® WORKING TOGETHER. BUILDING SUCCESS. 30

LOANS TO DEPOSITS NASDAQ: PEBO OUR LOAN TO DEPOSIT RATIO IS LOW COMPARED TO PEER GROUP, WHICH POSITIONS US WELL FROM A LIQUIDITY PERSPECTIVE. 105% 100% 95% 92.68% 91.06% 90% 87.3% 85% NOT TO SCALE TO NOT 80% E 75% AG VER 70% MEDIAN A NWBI STBA SMMF TSC LKFN UCFC FDEF CTBI SRCE TMP FCF UNIV. HBNC PRK UNIV. SYBT FISI CCNE FMNB GABC CHCO PEBO FRME THFF $1-$10B $1-$10B Source: S&P Global Market Intelligence 31 Data as of December 31, 2019

EARNING ASSET MIX NASDAQ: PEBO FROM 2013 TO 2018, THE PERCENTAGE OF EARNING ASSETS COMPOSED OF INVESTMENTS DECREASED. IN 2019, THE INCREASE IN PERCENTAGE OF EARNING ASSETS IS DUE TO THE FIRST PRESTONSBURG ACQUISITION, WHICH PROVIDED ADDITIONALEarning LIQUIDITY.Asset Mix $4.5 80% 76% PERCENTAGE OF TOTAL EARNING ASSETS 73% 74% 72% $4.0 70% 69% 70% $3.5 64% $3.0 60% $2.5 50% $2.0 (IN $BILLIONS) $1.5 40% TOTAL EARNING ASSETS EARNING ASSETS TOTAL $1.0 36% 30% $0.5 31% 30% 28% 27% 26% 24% $0.0 20% FY-13 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 INVESTMENTS LOANS INVESTMENTS % LOANS % ® WORKING TOGETHER. BUILDING SUCCESS. 32

PRUDENT USE OF CAPITAL NASDAQ: PEBO ACQUISITIONS • Bank acquisitions completed in 2014 (3), 2015 (1), 2018 (1), and 2019 (1) • Insurance acquisitions completed in 2014 (1), 2015 (1), 2017 (2), and 2020 (1) • One investment acquisition was completed in 2016 CAPITAL PRIORITIES • Organic growth • Dividends • Acquisition activities DIVIDENDS • $0.15 quarterly dividend in Q1 2016 has increased to $0.34 in the most recent quarter. • Consistently evaluate dividend and adjust accordingly – annualized dividend yield at December 31, 2019 was 3.81%. • On a percentage basis, dividend growth has outpaced earnings per share growth for the last two years. 33

nue* Reve tment ves INSURANCE & INVESTMENT In INCOME COMPOSITION NASDAQ: PEBO Insurance and Investment Income Composition TOTAL INSURANCE REVENUE TOTAL INVESTMENT REVENUE FOR 2019 FOR 2019 $14.8Insurance MILLION Revenue* $13.2Investment MILLION Revenue* estment Income Composition 3 5 enue* Insurance and Inv Insurance 4 1 1 3 2 Insurance Rev Insurance 2 1 P&C COMMERCIAL LINES 56.2% 1 FIDUCIARY 51.4% 2 PERFORMANCE BASED 10.3% 2 BROKERAGE 31.9% 3 P&C PERSONAL LINES 15.4% 3 EMPLOYEE BENEFITS 16.7% 4 OTHER 4.1% 5 LIFE & HEALTH 14.0% ® WORKING TOGETHER. BUILDING SUCCESS. 34

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO PRE-PROVISION NET REVENUE Pre-provision net revenue (PPNR) has become aPREkey financial-PROVISIONmeasure used NETby federal REVENUEbank regulatory agencies when assessing the capital adequacy of financial institutions. PPNR is defined as net interest income plus total non-interest Preincome-provision(excludingnetall gains revenueand losses)(PPNR)minushastotalbecomenon-interesta keyexfinancial pense and,measuretherefore, excludesused bythefederalprovisionbankfor loanregulatory agencies when assessinglosses and allthegainscapitaland/oradequacylosses includedof financialin earningsinstitutions. As a result, PPNR. PPNRrepresentsis definedthe earningsas netcapacity interestthatincomecan beplus total non-interest incomeeither retained(excludingin orderallto buildgainscapitaland orlosses)used tominusabsorb unexpectedtotal non-lossesinterestand preserveexpenseexistingand, therefore,capital. excludes the provision for loan losses and all gains and/or losses included in earnings. As a result, PPNR represents the earnings capacity that can be either retained in order to build capital or used to absorb unexpected losses and preserve existing capital. (a) Presented on an annualized basis 35

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO PRE-PROVISION NET REVENUE ADJUSTED FOR NON-CORE ITEMS Pre-provision net revenue (PPNR)PRE-PROVISIONhas become NETa REVENUEkey financial ADJUSTEDmeasure FORused NONby-COREfederal ITEMSbank regulatory agencies when assessing the capitalPre-provisionadequacynet revenueof (PPNR)financialhas becomeinstitutionsa key financial. PPNRmeasureadjustedused byforfederal nonbank-coreregulatoryitems agenciesis definedwhen as net interest income, excludingassessing acquisitionthe capital-relatedadequacycostsof financialand pensioninstitutionssettlement. PPNR adjustedcharges,for non-pluscore itemstotalisnondefined-interestas net interestincome (excluding all income, excluding acquisition-related costs and pension settlement charges, plus total non-interest income (excluding all gains and losses)gainsminusand losses)totalminusnontotal-interestnon-interestexpenseex penseand,and, therefore,therefore, ex cludesexcludesthe provisionthe provisionfor loan losses for andloanalllossesgains and all gains and/or losses includedand/or losses in includedearningsin earnings. As a. result,As a result,PPNRPPNRrepresentsrepresents thetheearnings earningscapacitycapacitythat can be thateither canretainedbe eitherin retained in order to build capitalorder toorbuildusedcapitaltoorabsorbused to absorbunexpectedunexpectedlosseslossesandand preservepreserveexistingexistingcapital.capital. (a) Presented on an annualized basis 36

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO CORE NON-INTEREST INCOME Core non-interest income is a financialCORE measure NON-INTEREST used to INCOMEevaluate Peoples’ recurring non-interest revenue stream. CORE NON-INTEREST INCOME This measureCore non-interest is non income-US GAAP is a financial since measure it excludes used to evaluate the impact Peoples’ of recurring all gains non and/or-interest losses, revenue stream and core. banking system CoreThis non measure-interest is non income-US GAAPis a financial since it measure excludesCORE usedconversion the toimpactNON evaluate- ofINTEREST allrevenue Peoples’ gains and/or recurring waived. INCOME losses, non and-interest core banking revenue system stream . This measure is non-US GAAP since it excludesconversion the impact revenue of waived. all gains and/or losses, and core banking system Core non-interest income is a financialconversion measure revenue used towaived. evaluate Peoples’ recurring non-interest revenue stream. This measure is non-US GAAP since it excludes the impact of all gains and/or losses, and core banking system conversion revenue waived. CORE NON-INTEREST EXPENSE CORE NON-INTEREST EXPENSE Core non-interest expense is a financial measure used to evaluate Peoples’ recurring expense stream. CORECORE NON- INTERESTNON-INTEREST EXPENSE EXPENSE ThisCore measure non-interest is expense non-US is GAAPa financial since measure it excludes used to evaluate the impact Peoples’ recurringof core expensebanking stream. system conversion CoreThis non measure-interest is expense non-US is GAAP a financial since measureit excludes used the to impact evaluate of core Peoples’ banking recurring system expense conversion stream. expenses,CoreThisexpenses, non measure- interestacquisition acquisition is non expense-US--related GAAPrelated is expenses,asince financial expenses, it excludes pension measure pensionthe settlement impact used settlement of tocharges, core evaluate banking and otherPeoples’charges, system non -conversion recurring and other expense non- recurringstream. expenses,This measure acquisition is non-related-US GAAP expenses, since pensionexpenses. it excludes settlementexpenses. the charges, impact and of core other banking non-recurring system conversion expenses, acquisition-related expenses,expenses. pension settlement charges, and other non-recurring expenses. 37

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO EFFICIENCYEFFICIENCY RATIO RATIO The efficiencyThe efficiencyratioratioisisa akeykey financial measuremeasureused tousedmonitorto performancemonitor performance. The efficiency.ratioTheis efficiencycalculated as ratiototal is calculated as total non-interestnon-interest expenseexpense(less(less amortization of otherof otherintangible intangibleassets) as assets)a percentageas ofa fullypercentagetax-equivalentof netfully tax-equivalent net interest income plus total non-interest income excluding all gains and all los ses . This measure is non-US GAAP since interestit incomeexcludes amortization plus totalofnonother-interestintangibleincomeassets and excludingall gains and/orall gainslos ses includedand allinlossesearnings,. andThisusesmeasurefully tax-is non-US GAAP since it excludesequivalentamortizationnet interest incomeof other. intangible assets and all gains and/or losses included in earnings, and uses fully tax- equivalent net interest income. 38

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO TANGIBLE EQUITY TO TANGIBLE ASSETS AND TANGIBLE BOOK VALUE PER SHARE PeoplesTANGIBLEuses tangible EQUITYcapital TO TANGIBLEmeasures ASSETSto evaluate AND TANGIBLEthe adequacy BOOK VALUEof Peoples’ PER SHAREstockholders’ equity. Such ratios representPeoples usesnontangible-US GAAPcapital measuresfinancialto evaluatemeasuresthe adequacysince theof Peoples’calculationstockholders’removesequity. theSuchimpactratios of goodwill and other intangiblerepresent nonassets-US GAAPacquiredfinancial measuresthroughsince acquisitionsthe calculationonremovesboththetotalimpact stockholders'of goodwill and otherequity and total assets. Managementintangible assetsbelievesacquiredthisthroughinformationacquisitionsis onusefulboth tototalinvestorsstockholders'sinceequityit facilitatesand total assetsthe. comparison of Peoples’ Management believes this information is useful to inves tors since it facilitates the comparison of Peoples’ operatingoperating performance,performance, financialfinancialconditionconditionand trendsandto peers,trendsespeciallyto peers,thos e withoutespeciallya levelthoseof intangiblewithout a level of intangible assetsassetssimilarsimilar totothatthatof Peoplesof Peoples. The following. The followingtable reconcilestablethereconcilescalculation ofthethesecalculationnon-US GAAPoffinancialthese non-US GAAP financial measuresmeasurestoto amounts reportedreportedin Peoples’in Peoples’consolidated consolidatedfinancial statementsfinancial. statements. 39

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO RETURN ON AVERAGE ASSETS ADJUSTED FOR NON-CORE ITEMS The return on average assets adjusted for non-core items represents an non-US GAAP financial measure since it excludes RETURN ON AVERAGE ASSETS ADJUSTED FOR NON-CORE ITEMS the release of the deferred tax asset valuation allowance, the impact of the Tax Cuts and Jobs Act on the remeasurement The return on average assets adjusted for non-core items represents an non-US GAAP financial measure since it ex cludes ofthedeferredrelease of RETURNthetaxdeferredassetstax ONandasset AVERAGEdeferredvaluation allowance,tax ASSETSliabilities,the impactand ofADJUSTEDthetheTax afterCuts and-tax JobsFORimpactAct NONon theofremeasurement-allCOREgains ITEMSand losses, acquisition-related expensesof deferred taxandassetspensionand deferredsettlementtax liabilities,chargesand. the after-t ax impact of all gains and losses, acquisition-related The returnexpenseson averageand pensionassetssettlementadjustedcharges. for non-core items represents an non-US GAAP financial measure since it excludes the release of the deferred tax asset valuation allowance, the impact of the Tax Cuts and Jobs Act on the remeasurement of deferred tax assets and deferred tax liabilities, and the after-tax impact of all gains and losses, acquisition-related expenses and pension settlement charges. (a) Tax effect is calculated using a 21% federal statutory tax rate for the 2018 periods and 35% for the 2017 period. (a)(a) TaxTax effect effect is calculated is calculated using a 21% using federal a 21% statutory federaltax statutory tax raterate for for th eth 2018e 2018 periods periodsand 35% and for the35% 2017 for period. the 2017 period. 40

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO RETURN ON AVERAGE TANGIBLE STOCKHOLDERS’ EQUITY The return on averageRETURN tangibleON AVERAGEstockholders' TANGIBLE STOCKHOLDERS’equity ratio is EQUITYa key financial measure used to monitor The return on average tangible stockholders' equity ratio is a key financial meas ure used to monitor performanceperformance..ItItisiscalculatedcalculatedRETURNas net as incomeONnet AVERAGE(less incomeafter-tax(less TANGIBLEimpactafterof-amortizationtax impactSTOCKHOLDERS’of ofotheramortizationintangible assets) EQUITYof other intangible assets) dividedThedividedreturn byby averageon averagetangibletangiblestockholders'tangiblestockholders'equitystockholders'. Thisequitymeasure. Thisequityis nonmeasure-USratioGAAP sisis incenonait excludeskey-US GAAPfinancialthe aftersince-taxmeasureit excludesusedthetoaftermonitor-tax impactimpactofof amortizationamortization of otherof otherintangibleintangibleassets fromassetsearningsfromand theearningsimpact of andgoodwill theandimpactother intangibleof goodwill and other intangible performanceassets acquired. Itthroughis calculatedacquisitionsason totalnetstockholders'income (lessequityafter. -tax impact of amortization of other intangible assets) assetsdividedacquiredby average throughtangibleacquisitionsstockholders'on totalequitystockholders'. This measureequityis. non-US GAAP since it excludes the after-tax impact of amortization of other intangible assets from earnings and the impact of goodwill and other intangible assets acquired through acquisitions on total stockholders'equity. (a) T ax effect is calculated using a 21% federal statutory tax rate for the 2019 and 2018 periods, and a 35% federal statutory tax rate for all other periods shown. (a) T ax effect is calculated using a 21% federal statutory tax rate for the 2019 and 2018 periods, and a 35% federal statutory tax rate for all other periods shown. (a) Tax effect is calculated using a 21% federal statutory tax rate for the 2019 and 2018 periods, and a 35% federal statutory tax rate for all other periods shown. 41

FY 2019 APPENDIX NON-US GAAP MEASURES NASDAQ: PEBO RETURN ON AVERAGE STOCKHOLDERS’ EQUITY ADJUSTED FOR NON-CORE ITEMS The returnRETURNon average ON AVERAGEstockholders’ STOCKHOLDERS’equity adjusted EQUITY ADJUSTEDfor non-core FOR itemsNON-CORErepresents ITEMS an non-US GAAP financial measure sinceThe returnit excludeson averagethestockholders’releaseequityof theadjusteddeferredfor nontax-coreassetitemsvaluationrepresents anallowance,n on -US GAAPthefinancialimpactmeasureof the Tax Cuts and Jobs Act on thesinceremeasurementit ex cludesRETURNRETURNthe release of ONONofdeferred the AVERAGEAVERAGEdeferredtaxtaxassets assetSTOCKHOLDERS’STOCKHOLDERS’valuationand deferredallowance,taxthe EQUITY EQUITYimpactliabilities,of the ADJUSTEDADJUSTEDTaxandCutstheandafterJobs FORFOR-taxAct NONNONonimpact--CORECOREof all ITEMSITEMSgains and losses, acquisitionthe remeasurement-relatedof deferred expensestax assetsand pensionand deferredsettlementtax liabilities,chargesand the .after-tax impact of all gains and losses, TheTheacquisitionreturnreturn-relatedonon averageexpensesaverageandstockholders’stockholders’pension settlementequityequitychargesadjustedadjusted. forfor nonnon--corecore itemsitems representsrepresents anan nonnon--USUS GAAPGAAP financialfinancial measuremeasure sincesince itit excludesexcludes thethe releaserelease ofof thethe deferreddeferred taxtax assetasset valuationvaluation allowance,allowance, thethe impactimpact ofof thethe TaxTax CutsCuts andand JobsJobs ActAct onon thethe remeasurementremeasurement ofof deferreddeferred taxtax assetsassets andand deferreddeferred taxtax liabilities,liabilities, andand thethe afterafter--taxtax impactimpact ofof allall gainsgains andand losses,losses, acquisitionacquisition--relatedrelatedexpensesexpensesandandpensionpension settlementsettlementchargescharges.. (a) Tax effect is calculated using a 21% federal statutorytax rate for the 2019and 2018 periods and 35% for the 2017 period. (a) Tax effect is calculated using a 21% federal statutory tax rate for the 2019and 2018 periods and 35% for the 2017 period. (a)(a) Tax Tax effect effect is is calculatedcalculated using using a a 21%21% federal federal statutory statutory taxtax raterate for for th thee 2019and2019and 2018 2018 periodsperiodsandand 35%35% for for the the 2017 2017 period. period. 42

NASDAQ: PEBO CHUCK SULERZYSKI President and Chief Executive Officer P: 740.374.6163 C: 740.516.7584 Chuck.Sulerzyski@pebo.com JOHN C. ROGERS Executive Vice President Chief Financial Officer and Treasurer P: 740.376.7108 C: 412.952.1553 John.Rogers@pebo.com Peoples Bancorp® is a federally registered service mark of Peoples Bancorp Inc. The three arched ribbons logo and Working Together. Building Success.® are federally registered services marks of Peoples Bank. peoplesbancorp.com 431