PEOPLES BANCORP INC

Peoples’ sole banking subsidiary, Peoples Bank, generally owns its offices, related facilities and unimproved real property. At December 31, 2025, Peoples Bank operated 57 offices in Ohio, 39 offices in Kentucky, 26 offices in West Virginia, two offices in Virginia, one office in Washington D.C., one office in Maryland, an insurance premium finance lending office in Missouri, an equipment leasing office in Vermont, and a leasing office in Minnesota. Of these 129 offices, 71 are leased and the rest are owned by Peoples Bank.

Peoples Bank’s subsidiary, Peoples Insurance, rents office space in various Peoples Bank offices, and also leases office space from third parties in Inez and Pikeville, Kentucky. Peoples Bank’s subsidiary, Vantage, rents office space in Minnetonka, Minnesota, Cherry Hill, New Jersey, Holmdel, New Jersey, Knoxville, Tennessee, Grafton, Wisconsin, and Guilford, Connecticut.

Rent expense on the leased properties totaled $4.1 million in 2025 and $4.1 million in 2024, which excludes intercompany rent expense. The following properties have a lease term expiring on or before June 2026:

(a) Current lease agreement has no remaining extensions available.

(b) Current lease agreement will auto-renew for 1 year periods until terminated by one of the parties.

(c) Current lease agreement will switch to a month to month lease at expiration.

Peoples considers its offices and related facilities to be suitable and adequate for the present needs of Peoples and its subsidiaries. Peoples evaluates on a continuing basis the suitability and adequacy of its offices and related facilities, and has opened, relocated, remodeled or closed them as appropriate to maintain efficient and attractive premises.

Additional information concerning the property and equipment owned or leased by Peoples and its subsidiaries is incorporated herein by reference from “Note 5 Bank Premises and Equipment.”