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Park National Corporation PARK NATIONAL CORPORATION
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Safe Harbor Statement PARK NATIONAL CORPORATION 2 This presentation contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance and the plans, expectations, projections, and benefits of the recently completed merger (the “Merger”) of Park National Corporation (“Park”) and First Citizens Bancshares, Inc. (“First Citizens”). Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties, including those described in Park's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as updated by our subsequent filings with the SEC. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ include, without limitation: (1) the ability to execute our business plan successfully and manage strategic initiatives; (2) the impact of current and future economic and financial market conditions, including unemployment rates, inflation, interest rates, supply-demand imbalances, and geopolitical matters; (3) factors impacting the performance of our loan portfolio, including real estate values, financial health of borrowers, and loan concentrations; (4) the effects of monetary and fiscal policies, including interest rates, money supply, and inflation; (5) changes in federal, state, or local tax laws; (6) the impact of changes in governmental policy and regulatory requirements on our operations; (7) changes in consumer spending, borrowing, and saving habits; (8) changes in the performance and creditworthiness of customers, suppliers, and counterparties; (9) increased credit risk and higher credit losses due to loan concentrations; (10) volatility in mortgage banking income due to interest rates and demand; (11) adequacy of our internal controls and risk management programs; (12) competitive pressures among financial services organizations; (13) uncertainty regarding changes in banking regulations and other regulatory requirements; (14) our ability to meet heightened supervisory requirements and expectations; (15) the impact of changes in accounting policies and practices on our financial condition; (16) the reliability and accuracy of assumptions and estimates used in applying critical accounting estimates; (17) the potential for higher future credit losses due to changes in economic assumptions; (18) the ability to anticipate and respond to technological changes and our reliance on third-party vendors; (19) operational issues related to and capital spending necessitated by the implementation of information technology systems on which we are highly dependent; (20) the ability to secure confidential information and deliver products and services through computer systems and telecommunications networks; (21) the impact of security breaches or failures in operational systems; (22) the impact of geopolitical instability and trade policies on our operations including the imposition of tariffs and retaliatory tariffs; (23) the impact of changes in credit ratings of government debt and financial stability of sovereign governments; (24) the effect of stock market price fluctuations on our asset and wealth management businesses; (25) litigation and regulatory compliance exposure; (26) availability of earnings and excess capital for dividend declarations; (27) the impact of fraud, scams, and schemes on our business; (28) the impact of natural disasters, pandemics, and other emergencies on our operations; (29) potential deterioration of the economy due to financial, political, or other shocks; (30) impact of healthcare laws and potential changes on our costs and operations; (31) the ability to grow deposits and maintain adequate deposit levels, including by mitigating the effect of unexpected deposit outflows on our financial condition; (32) risks related to the completed acquisition of First Citizens, including the possibility that anticipated benefits are not realized as expected, difficulties integrating the two companies, and potential adverse reactions to customer, business, or employee relationships; and (33) other risk factors related to the banking industry.
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Disclaimer Non-GAAP Financial Measures This presentation contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the U.S. (“GAAP”). Management believes that the disclosure of these “non-GAAP” financial measures presents additional information which, when read in conjunction with Park’s consolidated financial statements prepared in accordance with GAAP, assists in analyzing Park’s operating performance, ensures comparability of operating performance from period to period, and facilitates comparisons with the performance of Park’s peer financial holding companies, while eliminating certain non-operational effects of acquisitions. Additionally, Park believes this financial information is utilized by regulators and market analysts to evaluate a company’s financial condition, and therefore, such information is useful to investors. The non-GAAP financial measures should not be viewed as substitutes for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation from the most directly comparable GAAP financial measures to the non-GAAP financial measures used in this presentation is provided on pages 32-34 of this presentation. PARK NATIONAL CORPORATION 3
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Snapshot • As of June 30, 2026, Park National Corporation (NYSE American: PRK) was a $12.7 billion asset financial holding company headquartered in Newark, OH, conducting banking operations through its wholly-owned subsidiary, The Park National Bank. • On February 1, 2026, Park closed the previously announced deal to acquire First Citizens Bancshares, Inc., the parent company of First Citizens National Bank, a Tennessee headquartered bank with $2.6 billion in assets. • Long-tenured management team helps sustain unique culture. Our senior leaders have been with Park for an average of 20 years. • Consistently in the top quartile of profitability. For the six months ended June 30, 2026, Park generated an adjusted (2) 1.89% return on average assets(1) and an adjusted(2) 16.86% return on average tangible common equity(1). • High-quality funding base. 29% of Park’s total deposits are non-interest bearing. PRK’s low-cost, core deposit funding profile supports durable net interest margin and extended trend of stable operating results. • Diversified revenue sources. For the six months ended June 30, 2026, over 21% of Park’s revenues come from non-interest income. • Historically strong credit quality. Park’s net charge-offs have historically been and are currently well below peer levels. • Strong capital base. Park has a 13.7% CET1 ratio (600+ bps above the minimum regulatory requirement). PARK NATIONAL CORPORATION 4 (1) See “Reconciliation of Non-GAAP Financial Measures” shown on pages 32 and 33. (2) Adjusted figures contain non-U.S. GAAP (generally accepted accounting principles in the United States or "U.S. GAAP") financial measures where management believes them to be helpful in understanding Park’s results of operations or financial position. Where non- U.S. GAAP financial measures are used, the compar able U.S. GAAP financial measures, can be found on slide 34. Note: Financial data as of June 30, 2026 unless otherwise noted; Source: S&P Global Market Intelligence.
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PARK NATIONAL CORPORATION Overview of Park National Corporation
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Overview of Park National Corporation PARK NATIONAL CORPORATION 6 • The Park National Bank, is headquartered in Newark, Ohio and was founded in 1908. • $12.7 billion total assets and $10.1 billion assets under management(1) at June 30, 2026. • Park common shares are publicly traded under the symbol “PRK” on NYSE American. • Diversified revenue base with approximately 21.7% non- interest income to operating revenue(5) ratio for the six months ended June 30, 2026. • Diversified loan portfolio funded with customer deposits. • Historical net charge-offs well below Proxy Peer Group average. • Low-cost funding profile supports durable net interest margin and extended trend of stable operating results. • Park had $10.7 billion in total deposits at June 30, 2026; 29% of those were non-interest bearing. (1) Market value of assets under management. (2) See “Reconciliation of Non-GAAP Financial Measures” shown on pages 32 and 33. (3) NPAs exclude loans 90+ days past due. (4) Net interest margin shown on a fully taxable equivalent basis assuming a 21% corporate federal income tax rate. (5) Definitions: TE – Tangible Shareholder’s Equity; TA – Tangible Assets; ACL – Allowance for Credit Losses; NPA – Non-Performing Assets, ROAA – Return on Average Assets; ROATE – Return on Average Tangible Shareholder’s Equity; Operating Revenue = Non- Interest Income + Net Interest Income (6) For the purpose of calculating the return on average tangible equity, a non- U.S. GAAP financial measure, net income for each per iod is divided by average tangible equity during the period. (7) Ratios presented YTD through June 30, 2026 are shown on an annualized basis. (8) Only 06/30/2026 is adjusted above. Adjusted figures contain non- U.S. GAAP (generally accepted accounting principles in the United States or "U.S. GAAP") financial measures where management believes them to be helpful in understanding Park’s results of operations or financial position. Where non- U.S. GAAP financial measures are used, the comparable U.S. GAAP financial measures, can be found on slide 34. Note: Financial data as of June 30, 2026 unless otherwise noted; Source: S&P Global Market Intelligence. Company Overview $ in millions 12/31/2024 12/31/2025 6/30/2026 Total Assets 9,805$ 9,805$ 12,677$ Total Loans (Gross) 7,817 8,051 9,731 Total Deposits 8,144 8,244 10,670 Total Shareholders' Equity 1,244 1,353 1,727 Total Equity / Total Assets 12.69% 13.80% 13.62% TE / TA (2) (5) 11.21% 12.35% 11.52% ACL / Loans (5) 1.13% 1.15% 1.14% NPAs / Total Assets (3) (5) 0.70% 0.69% 0.80% Net Interest Margin (4) (7) (8) 4.41% 4.75% 4.74% ROAA (5) (7) (8) 1.53% 1.78% 1.89% Return on Average Equity (7) (8) 12.65% 13.80% 14.06% ROATE (2) (5) (6) (7) (8) 14.65% 15.76% 16.86% At or Year to Date
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Attractive Geographic Footprint PARK NATIONAL CORPORATION 7 Ohio North Carolina South Carolina Kentucky Region Deposits Trust AUM(1) Full-Time(2) Employees Counties Served Offices Western Ohio $1.66B $1.69B 156 6 20 Northern Ohio $1.92B $1.62B 194 7 22 Metro $1.14B $1.40B 197 6 13 Central Ohio $2.07B $3.96B 179 4 15 Eastern Ohio $963M $1.05B 88 4 9 Carolina $678M $59.0M 76 6 7 Tennessee $2.11B $284M 149 11 27 Overview • Distinct operating regions provide for attractive mix of customers and demographic opportunities. • Park entered several new geographic markets in the last 6-7 years via acquisitions and de novo branch openings. • These new markets have strong population growth and low rates of unemployment (3). • Combined with Park’s strong deposit franchise, these expansion markets present a promising opportunity for customer and revenue growth. June 2026 Unemployment Rate (%)(3) (1) Market value of assets under management. (2) Full-time employees do not include 927 full-time employees at Park’s operational support centers. (3) Source: Bureau of Labor Statistics; National unemployment data as of June 30, 2026. Note: Financial data as of June 30, 2026 unless otherwise noted. Tennessee 3.2% 3.6% 3.9% 3.3% 5.2% 3.2% 4.2% ASHEVILLE, NC CHARLOTTE, NC CINCINNATI, OH COLUMBUS, OH LOUISVILLE, KY NASHVILLE, TN USA
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• Strong history of operating in Park’s regional bank model. • Regional leadership team averages approximately 31 years of banking experience and 23 years of leadership tenure with Park. PARK NATIONAL CORPORATION 8 Community Bank Regions Name Position Age Years with PNB (1) Years in Industry Jeff D. Agee CEO - Tennessee Region and PRK Board Member 65 43 43 John A. Brown Market President - Central Ohio Region & Chief Retail Banking Officer 57 35 35 James T. (Tim) Camp Market President - Carolina Region 59 19 36 Bryant W. Fox Market President - Cincinnati 38 13 13 Chris R. Hiner Market President - Northern Ohio Region & Chief Retail Lending Officer 43 20 20 W. Andrew Holden Market President - Louisville 51 8 30 Tim J. Ignasher Market President - Charlotte 65 9 35 Patrick L. Nash Market President - Eastern Ohio Region 61 39 39 Patrick K. Rastatter Market President - Western Ohio Region 48 21 21 Brady E. Waltz Market President - Columbus & Chief Commercial Banking Officer 54 19 33 (1) Years with PNB includes years served at an acquired bank.
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Park M&A Strategy Two-prong strategy guidelines: 1. Traditional M&A • Strong franchise, good reputation and asset quality • Competitive market share • Continuity of management and leadership • Traditional community bank structure • Sticky, low-cost core deposits • Disciplined approach to pricing and credit diligence 2. Metro Strategy • Certain attractive markets in the Midwest, Southeast, and Mid- Atlantic regions • De novo branching – mirror successful Columbus, Ohio and Louisville, Kentucky de novo offices • Partner with banks that have the following characteristics: • Consistent loan growth • Acceptable asset quality • Existing trust and wealth management business, or the potential to grow the business in those areas • Commercial focus with potential to grow consumer • Proven leadership team PARK NATIONAL CORPORATION 9 • What We Seek: Opportunities that align with our Traditional M&A and Metro Strategy expansion guidelines. • Crossing $10B Assets: PRK has been preparing to cross $10 billion in assets for over 5 years. The acquisition of First Citizens cemented PRK’s asset size at over $10 billion. • Market Expansion: Expansion to Louisville, KY and acquisitions in Charlotte, Asheville, NC, and upstate SC (Spartanburg, Greenville), and more recently in Tennessee reflect Park's consistent strategy of market extension into attractive new markets with strong local leadership.
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PARK NATIONAL CORPORATION Financial Summary
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2026 Second Quarter Highlights PARK NATIONAL CORPORATION 11 • Park’s Consolidated Capital Ratios at June 30, 2026: – Total Shareholders’ Equity to Total Assets of 13.62% – Tangible Common Equity to Tangible Assets of 11.52%(1) – Leverage Ratio of 11.71% – Total Risk-Based Capital Ratio of 14.92% • Book value per common share grew to $95.58 at June 30, 2026 from $93.93 at March 31, 2026. • Tangible book value per common share(1) grew to $78.92 at June 30, 2026 from $77.21 at March 31, 2026. • Adjusted(2) net income was reported at $61.8 million for Q2 2026 compared to $53.5 million for Q1 2026. • Adjusted(2) net interest margin was reported at 4.73% at June 30, 2026 compared to 4.76% at March 31, 2026, quarter to date. • Adjusted(2) pre-tax, pre-provision income (“PTPP”)(1) was reported at $81.3 million for Q2 2026 compared to $69.3 million for Q1 2026. • Provision for credit losses of $4.6 million for Q2 2026 compared to $2.7 million for Q1 2026. • Loans grew to $9.73 billion at June 30, 2026 from $9.67 billion at March 31, 2026. • ACL / Loans was reported at 1.14% at June 30, 2026 and 1.12% at March 31, 2026. Park Performance Summary (1) See “Reconciliation of Non-GAAP Financial Measures” shown on pages 32 and 33. (2) Adjusted figures contain non-U.S. GAAP (generally accepted accounting principles in the United States or "U.S. GAAP") financial measures where management believes them to be helpful in understanding Park’s results of operations or financial position. Where non-U.S. GAAP financial measures are used, the comparable U.S. GAAP financial measures, can be found on slide 34.
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Strong Balance Sheet PARK NATIONAL CORPORATION 12 Total Assets Total Loans (excluding PPP) (1) Total Deposits (includes off balance sheet) (2) Total Shareholders’ Equity (Dollars in millions) (Dollars in millions) (Dollars in millions) (Dollars in millions) (1) Excludes PPP loans of $0.2MM, $0.2MM, $1MM, $2MM and $4MM at end of 2026Q2, 2025Y, 2024Y, 2023Y and 2022Y, respectively. (2) Includes off balance sheet deposits of $0MM, $105MM, $115MM, $1MM and $196MM at end of 2026Q2, 2025Y, 2024Y, 2023Y, and 2022Y , respectively. $9,855 $9,837 $9,805 $9,805 $12,677 2022Y 2023Y 2024Y 2025Y 2026Q2 $7,138 $7,474 $7,816 $8,051 $9,731 2022Y 2023Y 2024Y 2025Y 2026Q2 $8,431 $8,044 $8,259 $8,349 $10,670 2022Y 2023Y 2024Y 2025Y 2026Q2 $1,069 $1,145 $1,244 $1,353 $1,727 2022Y 2023Y 2024Y 2025Y 2026Q2
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Efficiency Ratio & Non-Int. Exp. / Avg. Assets(1)(3) Strong Earnings – Adjusted 2026YTD(3) 13 (Dollars in millions) Net Income, ROAA & ROATE(1)(3) Non-Interest Income / Operating Revenue (2)(3) Pre-Tax, Pre-Provision Income / Avg. Assets(1)(3) (1) See Reconciliation of Non-GAAP Financial Measures shown on pages 32 and 33. (2) The decrease of non-interest income for 2023 includes a loss on sale of debt securities of $7.9MM. (3) Only 2026YTD is adjusted above. Adjusted figures contain non-U.S. GAAP (generally accepted accounting principles in the United S tates or "U.S. GAAP") financial measures where management believes them to be helpful in understanding Park’s results of operations or financial position. Where non- U.S. GAAP financial measures are used, the comparable U.S. GAAP financial measures, can be found on slide 34. Note: Financial data as of June 30, 2026 unless otherwise noted. Note: Ratios are annualized for 2026 (Dollars in millions) (Dollars in millions) $153.9 61.2% 65.9% 61.4% 57.9% 54.5% 2.97% 3.11% 3.25% 3.21% 2.99% 2022Y 2023Y 2024Y 2025Y 2026YTD Efficiency Ratio Non-Int. Exp. / Avg. Assets $148.4 $126.7 $151.4 $180.1 $115.3 1.5% 1.3% 1.5% 1.8% 1.9% 16.3% 13.6% 14.7% 15.8% 16.9% – $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 $160.0 $180.0 $200.0 2022Y 2023Y 2024Y 2025Y 2026YTD – 4.0% 8.0% 12.0% 16.0% 20.0% Net Income ROAA ROATE $185.0 $156.5 $199.3 $232.8 $150.6 1.84% 1.57% 2.01% 2.30% 2.47% ($40.0) $10 .0 $60 .0 $11 0.0 $16 0.0 $21 0.0 $26 0.0 1.0 0% 1.2 0% 1.4 0% 1.6 0% 1.8 0% 2.0 0% 2.2 0% 2.4 0% 2.6 0% 2022Y 2023Y 2024Y 2025Y 2026YTD PPNR PPNR/Avg. Assets $135.9 $92.6 $122.6 $119.9 $71.9 $347.1 $373.1 $398.0 $437.3 $261.3 28.1% 19.9% 23.5% 21.5% 21.6% 2022Y 2023Y 2024Y 2025Y 2026YTD Net Interest Income Non-Interest Income Non-Interest Income / Op. Rev.
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Stable Net Interest Margin PARK NATIONAL CORPORATION 14 Asset Yields, Liability Costs, and Net Interest Margin(1)(2) (1) Net interest margin shown on a fully taxable equivalent basis assuming a 21% corporate federal income tax rate. See “Reconciliation of Non-GAAP Financial Measures” shown on pages 32 and 33. (2) 2026 is presented as annualized. 4.14% 5.18% 5.78% 5.90% 5.93% 3.80% 4.11% 4.41% 4.75% 4.80% 0.54% 1.67% 2.08% 1.77% 1.67% 0.25% 1.01% 1.36% 1.18% 1.18% 0.39% 1.52% 1.97% 1.71% 1.66% – 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% FY2022 FY2023 FY2024 FY2025 2026 YTD Interest Earning Asset Yield (%) Net Interest Margin (%) Interest Bearing Liability Cost (%) All Deposit Cost (%) Interest Bearing Deposit Cost (%)
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Diverse Fee Income PARK NATIONAL CORPORATION 15 Overview • The business lines responsible for generating the majority of fee income are wealth management, mortgage banking, and retail banking (interchange fees). • Diversified revenue base with approximately 21.7% non-interest income to operating revenue ratio for the six months ended June 30, 2026. • Anchored by wealth management business line, that had aggregate assets under management of $10.1 billion (1) at June 30, 2026. Sources of Non-Interest Income (YTD) Non-Interest Income / Operating Revenue (1) Market value of assets under management. (2) Fluctuations in 2022 included $12.0MM of OREO valuation markups and $5.6MM of OREO gains related to Vision Bank. 2023 included a loss on sale of debt securities of $7.9MM. 2024 included a pension settlement gain of $6.1MM and a 19.8% increase from wealth management compared to the prior year. Note: Financial data as of June 30, 2026 unless otherwise noted. (Dollars in millions) (2) Fiduciary Activities 35% Service Charges 10% Other Service Income 11% Interchange Income 20% BOLI 5% Other Fee Income 19% $135.9 $92.6 $122.6 $119.9 $73.3 $347.1 $373.1 $398.0 $437.3 $264.6 28.1% 19.9% 23.5% 21.5% 21.7% 2022Y 2023Y 2024Y 2025Y 2026YTD Net Interest Income Non-Interest Income Non-Interest Income / Op. Rev.
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Disciplined Approach to Managing Operating Expenses PARK NATIONAL CORPORATION 16 Efficiency Ratio(1) & Non-interest Expense Non-interest Expense Composition (YTD) Note: Financial data as of June 30, 2026 unless otherwise noted. (Dollars in millions) • Significant investment in people, processes, and technology over the last five years to prepare for crossing $10 billion. • Well positioned for growth. • Engaged Promontory to help with a framework for investments in Enterprise Risk Management, Compliance and Operating efficiency. • Includes investments in digital, data science and customer experience to position the organization for growth. (1) Only 2026YTD Efficiency Ratio is adjusted above. Adjusted figures contain non-U.S. GAAP (generally accepted accounting principles in the United States or "U.S. GAAP") financial measures where management believes them to be helpful in understanding Park’s results of operations or financial position. Where non-U.S. GAAP financial measures are used, the comparable U.S. GAAP financial measures, can be found on slide 34. $298.0 $309.2 $321.3 $324.4 $206.1 61.2% 65.9% 61.4% 57.9% 54.5% 2022 2023 2024 2025 2026YTD Non-interest Expense Efficiency Ratio Salaries & Benefits 56% Occupancy 4% FF&E 3% Data Processing 14% Professional Fees 12% Other Non- interest Expense 11%
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High Quality Capital Structure PARK NATIONAL CORPORATION 17 Tier 1 Capital Allowance for Credit Losses Note: Financial data as of June 30, 2026 unless otherwise noted. ACL $111.5 Common Equity Tier 1 $1,449.9 1 Regulatory Capital at June 30, 2026 (Dollars in millions) Trust Preferred $15.0
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Robust Capital Ratios PARK NATIONAL CORPORATION 18 (1) Adequately capitalized thresholds plus capital conservation buffer of 2.5%. (2) Regional Peer Group was used, as defined in the 2026 proxy. PRK’s 2026 Q2 data above is compared to peer median data as of 2026 Q1. (3) The decline in Total Risk-based Capital in 2025 was due to the payoff of $175MM of subordinated debt and $15MM of trust preferred securities. Note: All ratios presented are as of the end of the period. Note: Financial data as of June 30, 2026 unless otherwise noted. Tier 1 Leverage Ratio Common Equity Tier 1 Ratio Tier 1 Risk-based Capital Ratio Total Risk-based Capital Ratio (3) Regulatory Minimums(1) (1) (1) (1) (1) Peer Median Data(2) 9.9% 10.7% 11.5% 12.1% 11.7% 4.0% – 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 2022Q4 2023 Q4 2024 Q4 2025 Q4 2026 Q2 12.6% 12.8% 13.3% 14.0% 13.7% 7.0% – 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 2022Q4 2023 Q4 2024 Q4 2025 Q4 2026 Q2 12.8% 13.0% 13.5% 14.0% 13.9% 8.5% – 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 2022Q4 2023 Q4 2024 Q4 2025 Q4 2026 Q2 16.1% 16.2% 16.6% 15.1% 14.9% 10.5% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 15.0% 16.0% 17.0% 2022Q4 2023 Q4 2024 Q4 2025 Q4 2026 Q2
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High-Quality and Diversified Loan Portfolio PARK NATIONAL CORPORATION 19 • Park has a well-secured loan portfolio with geographic and asset class diversity. • Out-of-market portfolio is largely limited to specialty lending, which has conservative underwriting and is subject to intensive loan monitoring. • Included in commercial, financial, and agricultural loans were loans originated through two specialty business lines: • $334.7 million in loans originated through Scope Leasing, Inc. • $273.6 million in structured finance loans. • 3% of total loans were agriculture related (1). • 34% of commercial real estate loans were owner-occupied. Total Loan Portfolio: $9.73B QTD Yield on Loans: 6.42% (1) Agriculture related loans include farm loans and agricultural production loans. Note: Financial data as of June 30, 2026 unless otherwise noted. Commercial, Financial, and Agricultural 14% Commercial Real Estate 32% Construction Real Estate 6% Residential Real Estate 29% Consumer 19% Leases 0%
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Healthy Allowance Levels Safeguard Shareholders’ Equity PARK NATIONAL CORPORATION 20 Allowance / Total LoansOverview • Allowance for credit losses was 1.14% of total loans as of June 30, 2026. • Conservative classification of commercial loans and prudent identification of problem credits. Provision / Net Charge-Offs $7,142 $7,476 $7,817 $8,051 $9,731 1.20% 1.12% 1.13% 1.15% 1.14% 2022 Q4 2023 Q4 2024 Q4 2025 Q4 2026 Q2 (Dollars in millions) Total Loans ACL / Loans 1.9x 0.6x 1.4x 1.8x 1.4x FY 2022 FY 2023 FY 2024 FY 2025 2026 YTD $ in thousands Net Charge-Off as % of Total Loans Net Charge-Off 2026 YTD 0.11% 5,107$ FY 2025 0.08% 6,481 FY 2024 0.14% 10,322 FY 2023 0.07% 4,921 FY 2022 0.03% 2,375
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Stable Asset Quality PARK NATIONAL CORPORATION 21 Classified Loans(2) / Tier 1 Capital + ACL Overview • Conservative underwriting and strong asset quality. • Of the $81.2 million in nonaccrual loans, $61.9 million, or about 76.2%, were current with contractual payments at June 30, 2026. NPAs / Total Assets (1) (1) NPAs exclude accruing troubled debt restructuring loans and loans 90+ days past due. (2) Classified loans are defined as those rated substandard or individually evaluated - nonaccrual, excluding accruing purchase credit deteriorated (PCD) loans associated with the acquisitions of NewDominion Bank and CAB Financial Corporation. 0.82% 0.62% 0.70% 0.69% 0.80% 2022Q4 2023Q4 2024Q4 2025Q4 2026Q2 7.27% 4.25% 4.61% 3.77% 5.16% 2022Q4 2023Q4 2024Q4 2025Q4 2026Q2
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Stable, Low-Cost Core Deposits PARK NATIONAL CORPORATION 22 • With minimal reliance on costly time deposits and a relatively high level of non-interest bearing deposits, Park has cultivated a loyal and low-cost source of funds. • Non-interest bearing deposits represented 29% of total deposits. • Public funds made up $1.8 billion, or approximately 17%, of total deposits. • Uninsured deposits totaled approximately $2.3 billion, or 21.5% of total deposits. This $2.3 billion included $699 million of deposits which were over $250,000, but were fully collateralized by Park’s investment securities portfolio. Total Deposits: $10.8 billion QTD Cost of Interest Bearing Deposits: 1.71% QTD Cost of Total Deposits: 1.21% Non-CD/Brokered Deposits over Total Deposits: 87% Note: Financial data as of June 30, 2026 unless otherwise noted. Non-interest Bearing 29% Transaction 29% Savings 29% Brokered/BID Deposits 0% CDs 13%
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High Quality Securities Portfolio PARK NATIONAL CORPORATION 23 • Park’s investment securities portfolio is highly rated(1): • 74.4% are AAA rated or Agency Backed • 24.1% are AA+, AA, AA-, or A- rated • 1.5% are BBB, BBB-, or Not Rated • All mortgage-backed securities and collateralized mortgage obligations are U.S. government agency issued, and are primarily collateralized by 15-year residential mortgage loans. • All state and political subdivision securities are investment grade rated, many with credit enhancements. • The expected weighted average life of Park’s investment securities portfolio was 5.47 years at June 30, 2026. • $407.9 million of the securities portfolio is unpledged. • Park had a net unrealized loss on securities of $46.2 million, or 3.5% of the portfolio at June 30, 2026. • Park did not hold any held-to-maturity securities at June 30, 2026.QTD Yield on Securities: 3.53% Total Debt Securities: $1.26 billion (1) Securities portfolio ratings as of June 30, 2026. Note: Financial data as of June 30, 2026 unless otherwise noted Obligations of U.S. Government sponsored entities 8% States & Political Subdivisions 23% Agency Mortgage- Backed Securities 65% Collateralized Loan Obligations 2% Corporate Debt Securities 2%
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PARK NATIONAL CORPORATION Appendix
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Senior Management PARK NATIONAL CORPORATION 25 David L. Trautman – Chairman of the Board – Age: 65 (43 years with Park) • Chairman of the Board since May 2019. • CEO from January 2014 of Park and Park National Bank until December 2025. • President of Park and Park National Bank from January 2005 through April 2019. • President of First-Knox National Bank, a division of Park National Bank, from 1997 through 2002, and its Chairman of the Board from 2001 to 2006. • Holds an MBA with honors from The Ohio State University. • Earned an A.B. from Duke University and joined Park immediately following graduation. Matthew R. Miller – CEO and President – Age: 48 (17 years with Park) • CEO of Park and Park National Bank since January 2026. • President of Park and Park National Bank since May 2019. • Executive Vice President of Park and Park National Bank from April 2017 through April 2019. • Chief Accounting Officer of Park and Park National Bank from December 2012 through March 2017. • Vice President of Accounting at Park National Bank from March 2009 through December 2012. • Prior to joining Park, worked for eight years at Deloitte LLP, primarily serving clients in the financial services industry. • Earned a B.A. in accounting, graduating summa cum laude, from University of Akron.
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Senior Management (continued) PARK NATIONAL CORPORATION 26 Brady T. Burt – Chief Financial Officer – Age: 54 (19 years with Park) • Chief Financial Officer of Park and Park National Bank since December 2012. • Chief Accounting Officer of Park and Park National Bank from April 2007 to December 2012. • Worked at Vail Banks, Inc. in various capacities from 2002 to 2006, including as CFO. • Earned a B.S. in accounting from Miami University. • Member of Board of Directors of Federal Home Loan Bank of Cincinnati, serving on each of the Audit Committee and the Risk Committee.
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Experienced Management Team • Park National Bank’s management team consists of leaders with deep market knowledge. • The management team averages 26 years of banking experience. • The average team tenure with Park National Bank is approximately 18 years. PARK NATIONAL CORPORATION 27 Name Position Age Years with PNB Years in Industry Todd M. Bogdan Chief Operations Officer 58 9 37 Adrienne M. Brokaw Chief Auditor 58 13 27 Bryan M. Campolo Chief Credit Officer 42 19 19 Thomas M. Cummiskey Chief Wealth & Trust Officer 56 26 28 Malory Dcosta Chief Information Officer 53 4 23 Mark H. Miller Corporate Services Director 44 9 9 Laura F. Tussing Chief Banking Officer 45 21 21 Jeffrey A. Wilson Chief Risk Officer 59 21 29
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Installment Lending Portfolio PARK NATIONAL CORPORATION 28 Note: Financial data as of June 30, 2026 Note: Data above does not include the $18.3MM of installment loans of First Citizens National Bank, acquired 2/1/2026. • Park National Bank’s installment portfolio includes $1.7B of indirect loans and $190MM of direct loans. Of which, $3.4MM is nonaccrual or 90+ days delinquent and the portfolio has experienced $3.6MM in net charge-offs during 2026. • Balances have nearly doubled since first exceeding $1B in 2017. • Weighted average FICO credit score of the portfolio is over 782. 53.14% 26.59% 15.04% 4.47% 0.42% 0.33% Installment Loan Portfolio by Credit Tier Premier (FICO 780+ A+ (FICO 740 - 779) A (FICO 710 - 739) B (FICO 680 - 709) C (FICO 641 - 679) D (FICO < 640) Pre-2020 2020 2021 2022 2023 2024 2025 2026 Premier (FICO 780+) 14,360,693 27,852,769 48,597,925 117,306,606 118,133,642 178,349,069 267,117,778 223,668,598 A+ (FICO 740 - 779) 11,199,058 12,692,443 25,395,601 59,462,911 67,234,636 97,978,807 132,330,665 91,728,723 A (FICO 710 - 739) 7,345,344 7,105,389 13,288,707 31,975,762 41,393,417 54,271,895 74,075,186 52,277,409 B (FICO 680 - 709) 2,705,770 1,152,951 3,166,168 7,495,464 12,110,650 18,904,610 21,228,861 17,043,895 C or D (FICO < 680) 951,602 98,050 426,201 914,430 2,288,165 3,480,194 3,902,687 2,040,491 - 100,000,000 200,000,000 300,000,000 400,000,000 500,000,000 600,000,000 ($ in 000s) Installment Loan Balances by Origination Year/Credit Tier
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Installment Lending Portfolio (continued) PARK NATIONAL CORPORATION 29 Note: Financial data as of June 30, 2026 Note: Data above does not include the $18.3MM of installment loans of First Citizens National Bank, acquired 2/1/2026. Pre-2020 2020 2021 2022 2023 2024 2025 2026 Total All Other 3,791,826 1,059,316 1,543,529 1,677,936 4,215,721 9,165,882 13,853,947 10,159,762 45,467,919 Watercraft 7,505,207 8,050,357 8,917,656 14,371,479 12,319,241 13,506,956 13,166,586 9,496,287 87,333,771 RVs 24,931,004 32,984,616 49,593,172 86,013,235 60,593,058 56,176,676 57,181,057 27,360,983 394,833,801 Auto 334,429 6,807,314 30,820,244 115,092,524 164,032,490 274,135,063 414,453,585 339,742,084 1,345,417,732 Total 36,562,467 48,901,602 90,874,602 217,155,174 241,160,510 352,984,577 498,655,176 386,759,116 1,873,053,223 - 100,000,000 200,000,000 300,000,000 400,000,000 500,000,000 600,000,000($ in 000s) Installment Loan Balances by Origination Year/Collateral Type
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Specialty Lending • Park has successfully operated in the specialty finance area for many years, specifically focusing on turbo-prop and light jets and structured finance lending to non-bank consumer finance companies. Net charge-offs in specialty lending have not materially impacted Park’s overall net charge-off rates over the last 10 years. • Park acquired Scope Leasing, Inc. in the mid-1990’s. Scope follows the same conservative underwriting posture as the commercial loan portfolio. Its lending team has years of industry experience and maintains a narrow focus as to acceptable aircraft underlying loans. Scope had loans of $334.7 million, or 3.44% of total loans, outstanding as of June 30, 2026. Scope offers aircraft loans from $200,000 to $5 million to individuals, small businesses, and major corporations across the country. • Park entered the structured finance lending business in 2008. It features a traditional asset-based lending line of business with daily cash collections, periodic customer audits, and an attractive risk/reward dynamic. The structured finance loans consist of loans to non-bank consumer finance companies throughout the nation. These asset-based loans are collateralized by cash flows from individuals, typically from auto loans financed by the non-bank consumer finance company. These loans have conservative underwriting and are subject to intensive loan monitoring. Structured finance loans represented $273.6 million, or 2.81% of total loans, outstanding as of June 30, 2026. PARK NATIONAL CORPORATION 30 Note: Financial data as of June 30, 2026 unless otherwise noted. Structured Finance 2.81% Scope Aircraft Finance 3.44% All Other Loans 93.75%
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Insured Deposits Trend Note: Financial data as of June 30, 2026 unless otherwise noted. 82.1% 81.9% 81.5% 78.4% 78.5% 5.1% 4.8% 4.6% 6.7% 6.6% 12.8% 13.3% 13.8% 14.9% 14.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Insured Collateralized Exposed
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Reconciliation of Non-GAAP Financial Measures PARK NATIONAL CORPORATION 32 Reconciliation of Average Shareholders' Equity to Average Tangible Equity For the Twelve Months Ended For the Three Months Ended For the Six Months Ended 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 6/30/2026 Average Shareholders' Equity 1,076,879$ 1,097,143$ 1,197,120$ 1,305,225$ 1,290,041$ 1,318,277$ 1,341,399$ 1,585,084$ 1,721,078$ 1,653,457$ Less: Average Goodwill and Other Intangible Assets 166,337 164,960 163,669 162,536 162,664 162,400 162,152 247,015 301,545 274,431 Average Tangible Equity 910,542$ 932,183$ 1,033,451$ 1,142,689$ 1,127,377$ 1,155,877$ 1,179,247$ 1,338,069$ 1,419,533$ 1,379,026$ Reconciliation of Total Shareholders' Equity to Tangible Equity As of As of 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Total Shareholders' Equity 1,069,226$ 1,145,293$ 1,243,848$ 1,352,793$ 1,294,480$ 1,331,821$ 1,352,793$ 1,699,759$ 1,726,576$ Less: Goodwill and Other Intangible Assets 165,570 164,247 163,032 161,990 162,485 162,237 161,990 302,565 300,986 Tangible Equity 903,656$ 981,046$ 1,080,816$ 1,190,803$ 1,131,995$ 1,169,584$ 1,190,803$ 1,397,194$ 1,425,590$ Reconciliation of Total Assets to Tangible Assets As of As of 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Total Assets 9,854,993$ 9,836,453$ 9,805,350$ 9,805,013$ 9,949,578$ 9,862,068$ 9,805,013$ 12,983,967$ 12,677,010$ Less: Goodwill and Other Intangible Assets 165,570 164,247 163,032 161,990 162,485 162,237 161,990 302,565 300,986 Tangible Assets 9,690,746$ 9,672,206$ 9,642,318$ 9,643,023$ 9,787,093$ 9,699,831$ 9,643,023$ 12,681,402$ 12,376,024$
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Reconciliation of Non-GAAP Financial Measures (continued) PARK NATIONAL CORPORATION 33 Reconciliation of Fully Taxable Equivalent Net Interest Income to Net Interest Income For the Twelve Months Ended For the Three Months Ended For the Six Months Ended 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 6/30/2026 Interest Income 378,247$ 471,670$ 522,965$ 544,540$ 136,496$ 138,952$ 136,892$ 154,777$ 172,327$ 327,104$ Fully Taxable Equivalent Adjustment 3,541 3,726 2,432 2,654 675 685 687 985 933 1,918 Fully Taxable Equivalent Interest Income 381,788$ 475,396$ 425,397$ 547,194$ 137,171$ 139,637$ 137,579$ 155,762$ 173,260$ 329,022$ Less: Interest Expense 31,188 98,557 124,946 107,229 27,505 27,935 23,966 28,997 33,470 62,467 Fully Taxable Equivalent Net Interest Income 350,600$ 376,839$ 400,451$ 439,965$ 109,666$ 111,702$ 113,613$ 126,765$ 139,790$ 266,555$ Reconciliation of Pre-Tax, Pre-Provision Net Income For the Twelve Months Ended For the Three Months Ended 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 6/30/2026 Net Income 148,351$ 126,734$ 151,420$ 180,073$ 48,119$ 47,158$ 42,639$ 41,687$ 58,752$ 100,439$ Plus: Income Taxes 32,108 26,870 33,305 41,250 11,228 10,940 10,036 9,990 14,110 24,100 Plus: Provision for Credit Losses 4,557 2,904 14,543 11,488 2,853 4,030 3,849 2,672 4,575 7,247 Pre-Tax, Pre-Provision Net Income 185,016$ 156,508$ 199,268$ 232,811$ 62,200$ 62,128$ 56,524$ 54,349$ 77,437$ 131,786$ Calculation of Allowance for Credit Losses / Loans As of As of 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Allowance for Credit Losses 85,379$ 83,745$ 87,966$ 92,973$ 89,785$ 91,758$ 92,973$ 108,590$ 110,686$ Loans 7,141,891 7,476,221 7,817,128 8,051,242 7,963,221 7,992,753 8,051,242 9,667,260 9,731,356 Allowance for Credit Losses / Loans 1.20% 1.12% 1.13% 1.15% 1.13% 1.15% 1.15% 1.12% 1.14% *Tangible book value = Tangible equity divided by common shares outstanding at period end. Tangible equity equals total shareholders' equity less goodwill and other intangible assets, in each case at the end of the period. *Net interest margin is calculated on a fully taxable equivalent basis by dividing fully taxable equivalent net interest income by average interest earning assets, in each case during the applicable period. *Efficiency ratio is calculated by dividing total other expense by the sum of fully taxable equivalent net interest income and other income. Fully taxable equivalent net interest income reconciliation is shown assuming a 21% corporate federal income tax rate. *Return on Average Tangible Equity = Net income for each period divided by average tangible assets during the period. Average tangible assets equal average assets less average goodwill and other intangible assets, in each case during the applicable period. For the Six Months Ended
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Reconciliation of Non-GAAP Financial Measures (continued) 34 Financial Reconciliations NON-GAAP RECONCILIATIONS (in thousands, except share and per share data) 6/30/2026 3/31/2026 6/30/2026 Net interest income $ 138,857 $ 125,780 $ 264,637 less purchase accounting accretion 2,147 812 2,959 less interest income on former Vision Bank relationships - 396 396 Net interes t income - adjus ted $ 136,710 $ 124,572 $ 261,282 Provision for credit losses $ 4,575 $ 2,672 $ 7,247 less recoveries on former Vision Bank relationships - (7) (7) Provision for credit losses - adjusted $ 4,575 $ 2,679 $ 7,254 Other income $ 39,540 $ 33,728 $ 73,268 less gain on sale of debt securities, net - 1,084 1,084 less impact of strategic initiatives 148 - 148 less Vision related OREO valuation adjustments, net - 304 304 less other service income related to former Vision Bank relationships - (202) (202) Other income - adjusted $ 39,392 $ 32,542 $ 71,934 Other expens e $ 100,960 $ 105,159 $ 206,119 less intangible asset amortization 2,072 1,279 3,351 less merger-related expenses related to First Citizens acquisition 4,118 15,474 19,592 less impact of strategic initiatives (71) 362 291 less purchase accounting amortization 36 20 56 less direct expenses related to collection of payments on former Vision Bank loan relationships - 194 194 Other expens e - adjus ted $ 94,805 $ 87,830 $ 182,635 Tax effect of adjustments to net income identified above $ 811 $ 3,135 $ 3,945 Net income - reported $ 58,752 $ 41,687 $ 100,439 Net income - adjusted $ 61,801 $ 53,480 $ 115,282 Diluted earnings per common share $ 3.23 $ 2.39 $ 5.64 Diluted earnings per common share, adjusted $ 3.40 $ 3.06 $ 6.47 Annualized return on average assets 1.84% 1.43% 1.64% Annualized return on average assets, adjusted 1.94% 1.83% 1.89% Annualized return on average tangible assets 1.89% 1.46% 1.68% Annualized return on average tangible assets, adjusted 1.99% 1.87% 1.93% Annualized return on average shareholders' equity 13.69% 10.67% 12.25% Annualized return on average shareholders' equity, adjusted 14.40% 13.68% 14.06% Annualized return on average tangible equity 16.60% 12.63% 14.69% Annualized return on average tangible equity, adjusted 17.46% 16.21% 16.86% Efficiency ratio 56.30% 65.52% 60.65% Efficiency ratio, adjusted 53.55% 55.55% 54.50% Annualized net interest margin 4.81% 4.80% 4.80% Annualized net interest margin, adjusted 4.73% 4.76% 4.74% PARK NATIONAL CORPORATION THREE MONTHS ENDED SIX MONTHS ENDED
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Park National Corporation PARK NATIONAL CORPORATION