WESBANCO INC

Table 20: Limited Partnership Commitments

NOTE 6. DERIVATIVES AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

Wesbanco is exposed to certain risks arising from both its business operations and economic conditions. Wesbanco principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. Wesbanco manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Wesbanco’s existing interest rate derivatives result from a service provided to certain qualifying customers and, therefore, are not used to manage the interest rate risk of Wesbanco’s assets or liabilities. Wesbanco manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. A matched book is when the assets and liabilities of Wesbanco Bank, Inc., Wesbanco's banking subsidiary (the "Bank") are equally distributed with similar maturities.

Loan Swaps

Wesbanco executes interest rate swaps and interest rate caps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps and caps are economically hedged by offsetting interest rate swaps and caps that Wesbanco executes with a third party, such that Wesbanco minimizes its net risk exposure resulting from such transactions. As the interest rate swaps and caps associated with this program do not meet the hedge accounting requirements of ASC 815, changes in the fair value of both the customer and offsetting third-party derivatives are recognized directly in earnings. As of September 30, 2026 and December 31, 2025, Wesbanco had 383 and 368 customer interest rate swaps and caps, respectively, with an aggregate notional amount of $2.8 billion and $2.6 billion, respectively, related to this program. Wesbanco recognized income for the related swap and cap fees of $2.8 million and $3.2 million for thethree months ended September 30, 2026 and 2025, respectively, and $6.8 million and $6.6 million forthe nine months ended September 30, 2026 and 2025, respectively.

Risk participation agreements are entered into as financial guarantees of performance on interest rate swap derivatives. The purchased asset or sold liability allows Wesbanco to participate-in (fee received) or participate-out (fee paid) the risk associated with certain derivative positions executed by the borrower of the lead bank in a loan syndication. As of September 30, 2026 and December 31, 2025, Wesbanco had 24 and 26, respectively, risk participation-in agreements with an aggregate notional amount of $331.5 million and $271.8 million, respectively. As of September 30, 2026 and December 31, 2025, Wesbanco hadnine risk participation-out agreements with an aggregate notional amount of $88.8 million and $89.5 million, respectively.

Mortgage Loans Held for Sale and Interest Rate Lock Commitments

Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as HFS and carried at fair value as Wesbanco has elected the fair value option. Fair value is determined based on rates obtained from the secondary market for loans with similar characteristics. Wesbanco sells loans to the secondary market on either a mandatory or best efforts basis. The loans sold on a mandatory basis are not committed to an investor until the loan is closed with the borrower. Wesbanco enters into forward to be announced (“TBA”) contracts to manage the interest rate risk between the lock commitment and the closing of the loan. The total balance of forward TBA contracts entered into was $46.5 million and $91.0 million at September 30, 2026 and December 31, 2025, respectively. The loans sold on a best efforts basis are committed to an investor simultaneous to the interest rate commitment with the borrower, and as a result, the Company does not enter into a separate forward TBA contract to offset the fair value risk as the investor accepts such risk in exchange for paying a lower premium on sale.

Fair Values of Derivative Instruments on the Balance Sheet

All derivatives are carried on the Consolidated Balance Sheet at fair value. Derivative assets are classified as other assets and derivative liabilities are classified as other liabilities on the Consolidated Balance Sheet. Changes in fair value are recognized in earnings. None of Wesbanco’s derivatives are designated in a qualifying hedging relationship under ASC 815.

The table below presents the fair value of Wesbanco’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of September 30, 2026 and December 31, 2025: