Investor Presentation (Q2 2021)...John Iannone Senior Vice President, Investor & Public Relations...

John IannoneSenior Vice President, Investor & Public Relations

304-905-7021

Investor Presentation (Q2 2021)(WSBC financials as of the three months ended 31 March 2021)

Forward-Looking Statements and Non-GAAP Financial Measures

1

Forward-looking statements in this report relating to WesBanco’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made

pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The information contained in this report should be read in

conjunction with WesBanco’s Form 10-K for the year ended December 31, 2020 and documents subsequently filed by WesBanco with the Securities and

Exchange Commission (“SEC”), which are available at the SEC’s website, www.sec.gov or at WesBanco’s website, www.WesBanco.com. Investors are

cautioned that forward-looking statements, which are not historical fact, involve risks and uncertainties, including those detailed in WesBanco’s most recent

Annual Report on Form 10-K filed with the SEC under “Risk Factors” in Part I, Item 1A. Such statements are subject to important factors that could cause actual

results to differ materially from those contemplated by such statements, including, without limitation, the effects of changing regional and national economic

conditions including the effects of the COVID-19 pandemic; changes in interest rates, spreads on earning assets and interest-bearing liabilities, and associated

interest rate sensitivity; sources of liquidity available to WesBanco and its related subsidiary operations; potential future credit losses and the credit risk of

commercial, real estate, and consumer loan customers and their borrowing activities; actions of the Federal Reserve Board, the Federal Deposit Insurance

Corporation, the SEC, the Financial Institution Regulatory Authority, the Municipal Securities Rulemaking Board, the Securities Investors Protection Corporation,

and other regulatory bodies; potential legislative and federal and state regulatory actions and reform, including, without limitation, the impact of the

implementation of the Dodd-Frank Act; adverse decisions of federal and state courts; fraud, scams and schemes of third parties; cyber-security breaches;

competitive conditions in the financial services industry; rapidly changing technology affecting financial services; marketability of debt instruments and

corresponding impact on fair value adjustments; and/or other external developments materially impacting WesBanco’s operational and financial performance.

WesBanco does not assume any duty to update forward-looking statements.

In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), WesBanco's management uses, and

this presentation contains or references, certain non-GAAP financial measures, such as pre-tax pre-provision income, tangible common equity/tangible assets;

net income excluding after-tax restructuring and merger-related expenses; efficiency ratio; return on average assets; and return on average tangible equity.

WesBanco believes these financial measures provide information useful to investors in understanding our operational performance and business and

performance trends which facilitate comparisons with the performance of others in the financial services industry. Although WesBanco believes that these non-

GAAP financial measures enhance investors' understanding of WesBanco's business and performance, these non-GAAP financial measures should not be

considered an alternative to GAAP. The non-GAAP financial measures contained therein should be read in conjunction with the audited financial statements

and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the Quarterly

Reports on Forms 10-Q for WesBanco and its subsidiaries, as well as other filings that the company has made with the SEC.

WV29%

OH21%PA

13%

IN5%

KY15%

MD17%

Deposits

2

Evolving Regional Financial Services Institution

Strong marketpresence acrosslegacy and majormetropolitan markets

Balanced loan anddeposit distributionacross diverseregional footprint

Diversified revenuegeneration enginessupported by uniquelong-term advantages

Well-executed long-term growth strategies

Note: loan and deposit data as of 3/31/2021 (loans exclude Small Business Administration’s Paycheck Protection Program (“SBA PPP”) loans); location data as of 5/1/2021; marketshare based on 2020 deposit rankings (exclusions: Pittsburgh MSA – BNY Mellon; state of OH – National Consumer Cooperative Bank) (source: S&P Global Market Intelligence)

Broad and Balanced Market Distribution

Strong Market Presence in Major Markets

WV19%

OH26%

PA12%

IN5%

KY14%

MD24%

Loans

WheelingPittsburgh

ColumbusDayton

Cincinnati

Louisville Frankfort

LexingtonFort Knox

HuntingtonCharleston

Morgantown

Washington D.C.

Baltimore

Lexington Park

Indianapolis

#9 in MD

#16 in OH

#11 in KY#3 in WV

#11 PghMSA

3

Investment Rationale

Balanced loan and deposit distribution across footprint

Diversified earnings streams built for long-term success, led bycentury-old, $5.2B trust and wealth management business

Strong presence in economically diverse, major marketssupported by positive demographic trends

Robust legacy deposit base provides pricing advantage

Balanced andDiversified withUnique Long-

Term Advantages

Distinct andWell-Executed

Long-TermGrowth Strategies

Legacy of CreditQuality, Risk

Management, andShareholder

Focus

Emphasis on digital capabilities and customer service to ensurerelationship value that meets customer needs efficiently andeffectively

Established lending and wealth management teams

Focus on positive operating leverage built upon a culture ofexpense management, enhanced by consolidated back-officefunctions in lower cost markets

Well-capitalized with solid liquidity and strong credit quality andregulatory compliance

Seven consecutive “outstanding” CRA ratings since 2003

Critical, long-term focus on shareholder return through earningsgrowth and effective capital management

Note: trust assets under management as of 3/31/2021

Strategies for Long-TermSuccess

5

Long-Term Growth Strategies

Focus on Delivering Positive Operating Leverage

Strong Legacy of Credit Quality, Risk Management, and Compliance

DiversifiedLoan

Portfoliowith C&Iand HomeLending

Focus

Long Historyof StrongWealth

ManagementCapabilities

DigitalBankingService

Strategies& CoreDeposit

Advantage

Franchise-EnhancingExpansion

withinContiguous

Markets

6

Diversified Loan Portfolio

Focus on strategic diversification,growth, and credit quality

Balance disciplined loan originationwith prudent lending standards

Focus on C&I and home equity lending

Key offerings include treasurymanagement, foreign exchange, cybersecurity, and lockbox services

Strong residential mortgage program

Commercial& Industrial

15%

SBA PPP8%

Consumer3%

HELOC6%

Residential R/E15%

Comm'l R/E: Land,Construction

6%

Comm'l R/E:ImprovedProperty

47%

$10.7 Billion Loan Portfolio

Note: loan and deposit data as of quarter ending 3/31/2021

Average loans to average deposits ratio of 85.3% provides opportunity forcontinued loan growth

Low cost of deposits provides a competitive advantage in the typical highercost Mid-Atlantic market

Manageable lending exposures

De-emphasized consumer and several CRE categories in recent years

Private Banking

$980MM in private bankingloans and deposits

3,350+ relationships

Growth opportunities fromshale-related private wealthmanagement

Expansion opportunities in KY,IN, and Mid-Atlantic

7

Strong Wealth Management Capabilities

Note: assets, loans, deposits, and clients as of 12/31/2020; chart financials as of 12/31 unless otherwise stated

2013 2015 2017 2019 2021

Loans Deposits

$100$270

$540

$770

Private Banking Loans and Deposits(as of 12/31) ($MM)

Trust & Investments

$5.2B of trust and mutual fundassets under management

6,000+ relationships

Growth opportunities fromshale-related private wealthmanagement

Expansion opportunities inKY, IN, and the Mid-Atlantic

WesMark Funds – sixproprietary funds acrossequities, bonds, and tacticalassets

Securities Brokerage

Securities investment sales

Licensed banker program

Investment advisory services

Regional player/coach program

Expand external businessdevelopment opportunities

Expansion opportunities in KY,IN, and Mid-Atlantic

CAGR37%

Insurance

Personal, commercial, title,health, and life

Expand title business in allmarkets

Applied quotation softwareutilization (personal)

Third-party administrator (TPA)services for small businesshealthcare plans

$2.3 $2.4$3.2

$4.3$5.2

2002 2008 2012 2018 2021

Trust Assets(Market Value as of 12/31) ($B)

CAGR4.6%

$980

3/31

3/31

Digital banking utilization

~74% of retail customers utilize online digital banking services

~4.5 million web and mobile logins per month

• Mobile 50% of total, with an average of 17 monthly logins per customer

Mobile wallet & mobile deposits increased 55% & 50% YoY, respectively

Zelle® to be utilized as a payment service beginning 2H2021

Digital acquisition

~50% of residential mortgage applications submitted via online portal

~200 deposit accounts opened per month

WesBanco Insurance Services launched white-label insurance capabilitieswith a web-based term-life insurance platform, and a fully-integrated digitalproperty & casualty insurance for consumers and small businesses

Core upgrade in 2021

Omni-channel presence – real-time account activity across all channels

Improved customer service through reduced manual activities

More efficient processing cost structure

Cloud-based architecture utilization

Early adoption to leverage modernized data and application platforms,combined with significant expense and performance benefits

Actively harnessing advanced artificial intelligence (AI) and robotic processautomation (RPA) technologies to automate business processes

Digital Platforms Drive Engagement & Efficiency

8Note: digital statistics as of 1Q2021; online residential mortgage applications and deposit account opening capabilities launched July 2019; WesBanco Insurance Services online term-life and P&Cinsurance capabilities launched November 2020 and January 2021, respectively

9

Benefits of Core Deposit Funding Advantage

Robust legacy deposit base, enhanced by shale energy-related royalties,provides funding advantage in Mid-Atlantic market

Reflecting the significantly lower interest rate environment, aggressivelyreduced deposit rates since March 2020

During the last five years:

Total deposits (excluding CDs) have grown organically at a 11% CAGR

Total demand deposits have grown organically at a 15% CAGR to represent~57% of total deposits

Note: text reflects period-end data and pie charts reflect quarterly averages; peer bank group includes all U.S. banks with total assets of $10B to $25B (as of most recent period)from S&P Global Market Intelligence (as of 5/3/2021) and represent simple averages

Non-intBearing

DD33%

IntBearing

DD23%

MoneyMkt14%

Savings18%

CDs12%

Avg Deposits as of 3/31/2021

Funding CostInterest-Bearing = 0.20%Total Deposits = 0.14%

[Peer Average Total Deposit Cost = 0.21%]

Non-intBearing

DD29%

IntBearing

DD21%

MoneyMkt14%

Savings18%

CDs18%




Non-intBearing

DD21%

IntBearing

DD19%

MoneyMkt16%

Savings18%

CDs26%




TotalDD

40%

TotalDD

50%

TotalDD

56%

10

Franchise Expansion

Targeted acquisitions in existingmarkets and new higher-growthmetro areas

Long-term focus on appropriatecapital management to enhanceshareholder value

Strong capital and liquidity, alongwith strong regulatory complianceprocesses, provides ability toexecute transactions quickly

Diligent efforts to maintain acommunity bank-oriented, value-based approach to our markets

History of successful acquisitionsthat have improved earnings

Contiguous Markets Radius

Franchise-Enhancing Acquisitions OLBK: announced Jul-19; closed Nov-19

FFKT: announced Apr-18; closed Aug-18

FTSB: announced Nov-17; closed Apr-18

YCB: announced May-16; closed Sep-16

ESB: announced Oct-14; closed Feb-15

FSBI: announced Jul-12; closed Nov-12

AmTrust: announced Jan-09; closed Mar-09

OAKF: announced Jul-07; closed Nov-07

Note: AmTrust was an acquisition of five branches

YCBFFKT FTSB

OAKF

ESB &FSBI

OLBK

AmTrustbranches

11

Focus on Positive Operating Leverage

Disciplined growth, balanced by a fundamental focus on expensemanagement and supported by franchise-enhancing acquisitions, in orderto deliver positive operating leverage and enhance shareholder value

$5.4 $5.5 $6.1 $6.1 $6.3 $8.5 $9.8 $9.8 $12.5 $15.7 $16.4 $17.1

60.81%

59.50%

60.98% 60.99%

59.59%

57.05% 56.69% 56.44%

54.60%

56.68% 56.38% 56.71%

50.00%

52.00%

54.00%

56.00%

58.00%

60.00%

62.00%

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

$6.0

$7.0

$8.0

$9.0

$10.0

$11.0

$12.0

$13.0

$14.0

$15.0

$16.0

$17.0

$18.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Assets ($B) Efficiency Ratio (YTD)

9.6x 4.2x 0.7x 1.6x 10.9x 2.2x 1.9x 1.8x 2.5x 1.4x 1.8x 2.2xOperatingLeverage

Note: financial data as of 12/31; current year-to-date (YTD) data as of 3/31/2021; balance sheet data as of period ends; Efficiency Ratio presented on a fully taxable-equivalent (FTE)and annualized basis; please see the reconciliations in the appendix

YCBMerger

(Sep-16)

ESBMerger

(Feb-15)FidelityMerger

(Nov-12)

$10B AssetThreshold

PreparationsBegun

Lending & RevenueDiversification

Strategy Begun

Assetsup 218%

Efficiency Ratiodown 410bp FTSB Merger

(Apr-18)FFKT Merger

(Aug-18)

OLBKMerger

(Nov-19)

“DurbinAmendment”Impact Begun

(Jul-19)

Start ofPandemic &Fed FundsRate Cut to0.0-0.25%(Mar-20)

3/31

10.39% 10.74% 11.30% 10.51% 10.74%

10.27%10.47% 10.59%

9.85%9.56%

2017 2018 2019 2020 1Q21WSBC $10-25B Banks

14.12% 15.09% 12.89% 14.72% 14.95%

12.66% 12.81% 12.90%

13.66%13.41%

2017 2018 2019 2020 1Q21WSBC $10-25B Banks

Strong legacy of credit and risk management and regulatory compliance

Based upon conservative underwriting standards and approval processessupported by centralized back-office and loan funding functions

Mature enterprise risk management program headed by Chief Risk Officeraddressing key risks in all business lines and functional areas

Enhanced compliance and risk management system and testing platform

Strong and scalable BSA/AML function

Examined by CFPB for consumer compliance supervision

Seven consecutive “outstanding” CRA ratings since 2003

Strong and improving regulatory capital ratios significantly aboveregulatory requirements, and high tangible common equity (TCE) levels

Strong Risk Management and Capital Position

12

Tier 1 Risk-Based Capital Ratio Tier 1 Leverage Capital Ratio

Note: capital ratios enhanced by August 2020 issuance of $150MM of preferred stock; effective 4Q2019, as required by the Dodd- Frank Act for financial institutions with total assets>$15B, Tier 1 Capital Ratios negatively impacted by the movement of ~$130MM of TruPS from Tier 1 to Tier 2 risk-based capital; peer bank group includes all U.S. banks with totalassets of $10B to $25B (as of each period) from S&P Global Market Intelligence (as of 5/3/2021) and represent simple averages

memoWell-

Capitalized8.0%

Required6.0%

memoWell-

Capitalized5.0%

Required4.0%

13

Recent Successes and Accolades Based 100% on customer satisfaction and consumer feedback, WesBanco Bank

was again named, for the third year, one of the World’s Best Banks in anindependent ranking

WesBanco Bank received the America Saves Designation of Savings Excellencefor Banks, a designation from America Saves

For the 11th time since the list’s inception in 2010, WesBanco Bank was named tothe Forbes list of the Best Banks in America – coming in as the 12th best bank

Named to Newsweek magazine's inaugural ranking of America's Best Banks,recognizing those banks that best serve their customers needs, as well as beingnamed the Best Big Bank in the state of West Virginia

Bauer Financial again awarded WesBanco their highest rating as a “five-star” bank

The Central Ohio market of WesBanco Bank was awarded a “Top Workplaces”honor by Columbus C.E.O. magazine for the fifth consecutive year

The Western Pennsylvania market of WesBanco Bank was awarded a “TopWorkplaces” honor by The Pittsburgh Post Gazette for the third consecutive year

The FDIC awarded WesBanco Bank it’s 7th consecutive composite “Outstanding”rating for its most recent CRA performance

Kroll Bond Rating Agency assigned senior unsecured debt ratings of BBB+ toWesBanco, Inc. and A- to WesBanco Bank, Inc.

Note: Kroll Bond Rating Agency rating report issued 8/4/2020

Financial Overview

Q1 2021 Financial and Operational Highlights

15

Note: financial and operational highlights during the quarter ended March 31, 2021; loan growth includes approximately $824 million of loans funded through the Small BusinessAdministration’s Paycheck Protection Program (“SBA PPP”), as established by the CARES Act(1) Non-GAAP measure – please see reconciliation in appendix

Strong growth in pre-tax, pre-provision income

Continued emphasis on expense management

Improving macro-economic factors drove a $28million release of provision for credit losses

Key credit quality metrics remained at low levelsand favorable to peer bank averages

Positive growth in both loans and deposits

Mortgage banking income increased due to ahigh volume of originations

WesBanco is well-capitalized with solid liquidityand a strong balance sheet

Recent Board authorized stock repurchaseprogram, when combined with the remainder of theprevious authorization, represents approximately5% of outstanding shares

Pre-Tax, Pre-Provision Income(1)

$64.2 million, +3.6% YoY

Net Income Available to CommonShareholders and Diluted EPS(1)

$71.3 million; $1.06/diluted share

Efficiency Ratio(1)

56.71%

Mortgage Banking Income

$4.3 million, +234.2% YoY

Loan Growth

+3.4% YoY

Deposit Growth (x-CDs)

+28.9% YoY

Q1 2021 Total Portfolio Loans ($MM)

16

~7,750 SBA PPP loans totaling~$824 million (as of 3/31/2021)

During Q1 2021, ~2,330 customersapplied for and received forgivenessof their 2020 SBA PPP loans totaling$223 million; and, assisted >3,240businesses with 2021 SBA PPPloans totaling ~$344 million

C&I loan levels (x-SBA PPP) weredown year-over-year primarily due tolower utilization of revolving lines ofcredit (~33% vs. ~43% last year)

Q1 2021 residential real estate loanlevels impacted by retaining ~40% ofthe $326 million of origination dollarvolume (~57% refi) on balance sheet

Home equity and consumer loanlevels negatively impacted by payoffsdriven by utilization of residentialmortgage refinancing and higherpersonal savings

FixedRate35%

VariableRate65%

1Q2021 Commercial Loan Portfolio Index Mix

~$2.4MM of the commercial portfolio has floors, with~68% of these currently at their floors of 4.10% (avg)

<3 Months44%

3 to 24Months

3%

24 to 48Months

3%

48 to 60Months

47%

>60 Months3%

Variable Commercial Loan Repricing

Q1 2021 Net Interest Margin (NIM)

17

NIM negatively impacted by the lowinterest rate environment

As a result of higher cash balances,investment securities increased by$0.9 billion during Q1 2021, mostlyduring March

Aggressively reduced deposit ratesthroughout the past year

Q1 2021 interest-bearing depositfunding costs 20bp, or, whenincluding non-interest bearingdeposits, 14bp

Period-end FHLB borrowings of$0.4 billion, with remaining averagelife of less than one year, down $1.2billion year-over-year

SBA PPP loans benefited Q1 2021NIM by a net 11bp, mainly due to2020 SBA PPP originations forgiven

Note: commercial loan portfolio index mix excludes SBA PPP loans

Quarter Ending % H / (L) % H / (L)

($000s) 03/31/21 03/31/20 12/31/20

Trust fees $7,631 9.8% 13.0%

Service charges on deposits 4,894 (26.0%) (13.7%)

Electronic banking fees 4,365 2.6% (1.3%)

Net securities brokerage revenue 1,524 (9.2%) 8.7%

Bank-owned life insurance 1,709 (3.4%) (2.4%)

Mortgage banking income 4,264 234.2% (21.6%)

Net securities gains 279 (81.3%) (59.7%)

Net gain on OREO & other assets 175 3.6% nm

Other income 8,367 120.1% 27.7%

Total non-interest income $33,208 18.6% 1.5%

Q1 2021 Non-Interest Income

18

Mortgage banking fees increaseddue to an ~50% year-over-yearincrease in 1-to-4 family residentialmortgage origination dollar volume,and the associated sale of ~60% ofthose into the secondary market

Trust fees increased due to equitymarket improvement and organicgrowth in trust assets

Other income increased due tohigher loan swap-related income,which was primarily the result of$2.8 million of fair market valueadjustments in the current period ascompared to a negative $2.8 millionadjustment last year

Service charges on deposits werelower due to higher consumerdeposits associated with the threerounds of stimulus to-date andlower general consumer spending,resulting in fewer eligible accountfees

Note: OREO = other real estate owned

Quarter Ending % H / (L) % H / (L)

($000s) 03/31/21 03/31/20 12/31/20

Salaries and wages $36,890 (5.2%) (5.7%)

Employee benefits 10,266 (1.0%) (3.2%)

Net occupancy 7,177 1.3% 6.0%

Equipment 6,765 12.0% (0.7%)

Marketing 2,384 109.5% 42.3%

FDIC insurance 1,282 (39.3%) 0.3%

Amortization of intangible assets 2,896 (14.2%) (13.0%)

Other operating expenses 17,816 4.0% (0.9%)

Sub-total non-interest expense $85,476 (0.8%) (2.4%)

Restructuring & merger-related 851 (83.5%) 75.8%

Total non-interest expense $86,327 (5.5%) (2.0%)

Q1 2021 Non-Interest Expense

19

Total operating expenses remainedwell-controlled through company-wide efforts to manage openpositions and certain discretionaryexpenses

Efficiency ratio improved 98bp year-over-year to 56.71%

Lower salaries and wages reflect therecent financial center closures andthe management of FTEs

Anticipated gross cost savings of ~$6million from closures remain on trackto be fully realized during Q2 2021

Marketing expense was higher due toincreased product advertising andbrand awareness campaigns thatwere delayed from 2020 due to theCOVID-19 pandemic

Q1 restructuring & merger-relatedcharges related to the financialcenter optimization plan that wascompleted during January 2021

3.44% 3.52% 3.62% 3.37% 3.27%

3.71%3.86% 3.79%

3.35%

3.15%

2017 2018 2019 2020 2021 (3/31)WSBC $10-25B Banks

20

Comparable Operating Metrics

Disciplined execution upon growth strategies providing strong performancecompared to all U.S. banks with total assets from $10B to 25B(note: 2020 comparability impacted by timing of the adoption of CECL accounting standard and economic assumptions used by each bank)

56.4% 54.6% 56.7% 56.4% 56.7%

57.2%56.1%

55.4%

54.0%55.2%

2017 2018 2019 2020 2021 (3/31)WSBC $10-25B Banks

Note: financial data as of 12/31 YTD; current YTD data as of 3/31/2021; Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC; peerbank group includes all U.S. banks with total assets of $10B to $25B (as of each period) from S&P Global Market Intelligence (as of 5/3/2021) and represent simple averages(ROATE & ROAA are S&P calculations; Efficiency & NIM are company-reported); Efficiency & NIM presented on a fully taxable-equivalent (FTE) and annualized basis; please seethe reconciliations in the appendix

Efficiency Ratio

Return on Average AssetsReturn on Average Tangible Equity

Net Interest Margin

0.96% 1.26% 1.24% 0.73% 1.72%

1.04%

1.34% 1.34%

0.89%

1.35%

2017 2018 2019 2020 2021 (3/31)WSBC (x- merger & DTA revalue costs) WSBC $10-25B Banks

1.34%1.39%

1.09%

1.74%

0.77%

12.2% 16.2% 14.0% 8.6% 18.2%

11.5%

14.9% 14.6%

11.3%

15.5%

2017 2018 2019 2020 2021 (3/31)WSBC (x- merger & DTA revalue costs) WSBC $10-25B Banks

15.1%

17.8%

13.9%

9.2%

18.4%

0.50% 0.35% 0.35% 0.25% 0.23%

0.89%

0.71%

0.60% 0.60% 0.57%

2017 2018 2019 2020 2021 (3/31)WSBC $10-25B Banks

Non-Performing Assets as % of Total Assets

0.13% 0.06% 0.09% 0.06%0.02%

0.22%0.20% 0.20%

0.22%

0.13%

2017 YTD 2018 YTD 2019 YTD 2020 YTD 2021 (3/31)WSBC $10-25B Banks

Net Charge-Offs as % of Average Loans (annualized)

0.71% 0.64% 0.51% 1.72% 1.50%

0.95% 0.87% 0.80%

1.51% 1.49%

2017 2018 2019 2020 2021 (3/31)

WSBC $10-25B Banks

Allowance for Credit Losses as % of Total Loans

1.17% 1.08% 2.17% 4.59% 4.26%

3.16% 2.98% 3.02%

4.76%

3.76%

2017 2018 2019 2020 2021 (3/31)WSBC $10-25B Banks

Criticized & Classified Loans as % of Total Loans

Favorable asset quality measures compared to all U.S. banks with totalassets from $10B to 25B(note: 2020 ACL comparability impacted by timing of the adoption of CECL accounting standard and economic assumptions used by each bank)

Solid Legacy of Credit Quality

21Note: financial data as of quarter ending 12/31; current year data as of 3/31/2021; Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC;peer bank group includes all U.S. banks with total assets of $10B to $25B (as of each period) from S&P Global Market Intelligence (as of 5/3/2021) and represent simple averages

Returning Value to Shareholders

Focus on appropriate capital allocation to provide financial flexibility whilecontinuing to enhance shareholder value through earnings growth andeffective capital management

Capital management strategy: dividends, share repurchases, acquisitions

Q1 2021 dividend yield 3.5%, compared to 2.2% for bank group

On April 22, 2021, WesBanco’s Board of Directors authorized the adoption of anew stock repurchase program, which, when combined with the remainder ofthe previous authorization, represents ~5% of outstanding shares

22

Note: dividend through February 2021 declaration announcement; WSBC dividend payout ratio based on earnings per share excluding merger-related costs and including impact fromadoption of the Current Expected Credit Losses (“CECL”) accounting standard; WSBC dividend yield based upon 5/3/2021 closing stock price of $37.28; peer bank group includes allU.S. banks with total assets of $10B to $25B (as of most recent period) from S&P Global Market Intelligence (as of 5/3/2021) and represent simple averages

Tangible Book Value per Share ($)Quarterly Dividend per Share ($)

$0.14

$0.33

4Q10 1Q21

+136%

$12.09

$22.21

4Q10 1Q21

+84%

Appendix

Q1 2021 Key Metrics

24

Note: PTPP = pre-tax, pre-provision(1) Non-GAAP measure – please see reconciliation in appendix(2) Excludes restructuring and merger-related expenses

H / (L) H / (L)

03/31/21 03/31/20 12/31/20

Return on Average Assets (1)(2) 1.74% 104bp 52bp

PTPP Return on Average Assets (1)(2) 1.57% (1bp) 1bp

Return on Average Tangible Equity (1)(2) 18.39% 1,021bp 511bp

PTPP Return on Average Tangible Equity (1)(2) 16.78% (97bp) (22bp)

Tangible Book Value per Share ($) (1) $22.21 4.0% 2.1%

Efficiency Ratio (1)(2) 56.71% (98bp) (35bp)

Net Interest Margin 3.27% (27bp) (4bp)

Non-Performing Assets to Total Assets 0.23% (3bp) (2bp)

Net Loan Charge-offs to Average Loans (annualized) 0.02% (16bp) 0bp

Quarter Ending

The decrease in the allowance was driven by improvement in the macroeconomicforecast and changes in portfolio mix slightly offset by COVID-19 pandemic relatedadjustments

Allowance coverage ratio of 1.50%, or, excluding SBA PPP loans, 1.62%

Excludes fair market value adjustments on previously acquired loans representing 0.34%of total portfolio loans

Q1 2021 Current Expected Credit Loss (CECL)

25Note: ACL at 3/31/2021 excludes off-balance sheet credit exposures of $6.7 million; on January 1, 2020, WSBC adopted the CECL accounting standard (prior to this date, theallowance for credit losses was calculated under the incurred method)

EconomicFactors

PortfolioChanges / Other

PandemicQualitative Factors

Changes tomacroeconomicvariables

Includes changesin both quantitativeand qualitativeeconomic factors

Changes inprepaymentspeeds

Changes inportfolio mix

Changes incredit quality

Aging of existingportfolio

($000s)

Qualitativeadjustments forCOVID-19pandemic, regionalmacroeconomicfactors, andhospitality industryclassification loans

Reconciliation: Efficiency Ratio & Operating Leverage

26

Note: “efficiency ratio” is non-interest expense excluding restructuring and merger-related expense divided by total income; FTE represents fully taxable equivalent; Old Line Bancsharesmerger closed November 2019; Farmers Capital Bank Corporation merger closed August 2018; First Sentry Bancshares merger closed April 2018; Your Community Bankshares mergerclosed September 2016; ESB Financial merger closed February 2015; Fidelity Bancorp merger closed November 2012; AmTrust 5 branch acquisition closed March 2009

($000s) 03/31/20 12/31/20 03/31/21 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20

Non-Interest Expense $91,333 $88,069 $86,327 $141,152 $140,295 $150,120 $160,998 $161,633 $193,923 $208,680 $220,860 $265,224 $312,208 $354,845

Restructuring & Merger-Related

Expense($5,164) ($484) ($851) ($175) $0 ($3,888) ($1,310) ($1,309) ($11,082) ($13,261) ($945) ($17,860) ($16,397) ($9,725)

Non-Interest Expense (excluding

restructuring & merger-related

expense)

$86,169 $87,585 $85,476 $140,977 $140,295 $146,232 $159,688 $160,324 $182,841 $195,419 $219,915 $247,364 $295,811 $345,120

Net Interest Income (FTE-basis) $121,346 $120,790 $117,517 $172,235 $175,885 $175,027 $192,556 $200,545 $246,014 $263,232 $300,790 $352,760 $405,222 $483,999

Non-Interest Income $28,009 $32,705 $33,208 $59,599 $59,888 $64,775 $69,285 $68,504 $74,466 $81,499 $88,840 $100,276 $116,716 $128,185

Total Income $149,355 $153,495 $150,725 $231,834 $235,773 $239,802 $261,841 $269,049 $320,480 $344,731 $389,630 $453,036 $521,938 $612,184

Efficiency Ratio 57.69% 57.06% 56.71% 60.81% 59.50% 60.98% 60.99% 59.59% 57.05% 56.69% 56.44% 54.60% 56.68% 56.38%

Net Interest Income (before provision

expense)(non-FTE)$120,162 $119,712 $116,478 $166,092 $169,365 $168,351 $185,487 $193,228 $236,987 $253,330 $290,295 $347,236 $399,904 $479,480

Non-Interest Income $28,009 $32,705 $33,208 $59,599 $59,888 $64,775 $69,285 $68,504 $74,466 $81,499 $88,840 $100,276 $116,716 $128,185

Total Revenue $148,171 $152,417 $149,686 $225,691 $229,253 $233,126 $254,772 $261,732 $311,453 $334,829 $379,135 $447,512 $516,620 $607,665

YoY Change in Total Revenue $1,515 $2,730 $3,562 $3,873 $21,646 $6,960 $49,721 $23,376 $44,306 $68,377 $69,108 $91,045

YoY Change in Non-Interest Expense

(excluding restructuring & merger-

related expense)

($693) ($6,856) ($682) $5,937 $13,456 $636 $22,517 $12,578 $24,496 $27,449 $48,447 $49,309

Operating Leverage 2.2x 9.6x 4.2x 0.7x 1.6x 10.9x 2.2x 1.9x 1.8x 2.5x 1.4x 1.8x

Three Months Ending Twelve Months Ending

Reconciliation: Pre-Tax, Pre-Provision Income (PTPP) and Ratios

27Note: Old Line Bancshares merger closed November 2019

($000s) 03/31/20 12/31/20 03/31/21

Income before Provision for Income Taxes $27,017 $64,557 $91,317

Provision for Credit Losses 29,821 (209) (27,958)

Pre-Tax, Pre-Provision Income ("PTPP") $56,838 $64,348 $63,359

Restructuring and Merger-Related Expense 5,164 484 851

PTPP (excluding restructuring and merger-related expense) $62,002 $64,832 $64,210


Average Total Assets 15,784,939 16,546,761 16,636,258

PTPP Return on Average Assets 1.58% 1.56% 1.57%


Amortization of Intangibles 3,374 3,327 2,896

PTPP before Amortization of Intangibles (excluding restructuring and merger-related expense) $65,376 $68,159 $67,106

Average Total Shareholders' Equity $2,594,069 $2,744,936 $2,770,416

Average Goodwill and Other Intangibles (net of deferred tax liability) (1,112,327) (1,150,184) (1,148,171)

Average Tangible Equity $1,481,742 $1,594,752 $1,622,245

PTPP Return on Average Tangible Equity 17.75% 17.00% 16.78%

Three Months Ending

Reconciliation: Net Income, EPS & Tangible Book Value per Share

28Note: Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC; Old Line Bancshares merger closed November 2019

($000s, except earnings per share) 12/31/10 03/31/20 12/31/20 03/31/21

Net Income Available to Common Shareholders n/a $23,396 $50,210 $70,584

Restructuring and Merger-Related Expense (net of tax) n/a 4,080 383 672

Net Income Available to Common Shareholders (excluding restructuring

and merger-related expense)n/a $27,476 $50,593 $71,256

Net Income Available to Common Shareholders per Diluted Share ($) n/a $0.35 $0.75 $1.05

Restructuring and Merger-Related Expense (net of tax) n/a 0.06 0.01 0.01

Net Income Available to Common Shareholders per Diluted Share ($)

(excluding restructuring and merger-related expense)n/a $0.41 $0.76 $1.06

Average Common Shares Outstanding – Diluted (000s) n/a 67,587 67,304 67,335

Total Shareholders's Equity (period-end) $606,863 $2,586,060 $2,756,737 $2,785,522

Goodwill & Other Intangible Assets (net of deferred tax liability)(period-end) (285,559) (1,154,033) (1,149,161) (1,146,874)

Preferred Shareholders' Equity 0 0 (144,484) (144,484)

Tangible Common Equity (period-end) $321,304 $1,432,027 $1,463,092 $1,494,164

Common Shares Outstanding (period-end) (000s) 26,587 67,058 67,255 67,282

Tangible Common Book Value per Share ($) $12.09 $21.36 $21.75 $22.21

Three Months Ending

29Note: Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC; Old Line Bancshares merger closed November 2019; Farmers CapitalBank Corporation merger closed August 2018; First Sentry Bancshares merger closed April 2018; Your Community Bankshares merger closed September 2016

Reconciliation: Return on Average Assets

($000s) 03/31/20 03/31/21 12/31/17 12/31/18 12/31/19 12/31/20

Net Income Available to Common Shareholders $23,396 $70,584 $94,482 $143,112 $158,873 $119,400

Restructuring and Merger-Related Expenses (net of tax) $4,080 $672 $614 $14,109 $12,954 $7,683

Net Income Available to Common Shareholders (excluding restructuring

& merger-related expense)$27,476 $71,256 $107,876 $157,221 $171,827 $127,083

Average Assets $15,784,939 $16,636,258 $9,854,312 $11,337,379 $12,853,920 $16,442,704

Return on Average Assets 0.60% 1.72% 0.96% 1.26% 1.24% 0.73%

Return on Average Assets (excluding restructuring & merger-related

expense)0.70% 1.74% 1.09% 1.39% 1.34% 0.77%


30

(1) amortization of intangibles tax effected at 21% for 2018 forward, and 35% for all prior periodsNote: Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC; Old Line Bancshares merger closed November 2019; Farmers CapitalBank Corporation merger closed August 2018; First Sentry Bancshares merger closed April 2018; Your Community Bankshares merger closed September 2016

Reconciliation: Return on Average Tangible Equity

($000s) 03/31/20 03/31/21 12/31/17 12/31/18 12/31/19 12/31/20

Net Income Available to Common Shareholders $23,396 $70,584 $94,482 $143,112 $158,873 $119,400

Amortization of Intangibles (1) $2,665 $2,288 $3,211 $5,514 $8,169 $10,595

Net Income Available to Common Shareholders before Amortization

of Intangibles$26,061 $72,872 $97,693 $148,626 $167,042 $129,995

Restructuring and Merger-Related Expenses (net of tax) $4,080 $672 $614 $14,109 $12,954 $7,683

Net Income Available to Common Shareholders before Amortization

of Intangibles and Restructuring & Merger-Related Expenses$30,141 $73,544 $111,087 $162,735 $179,996 $137,678

Average Total Shareholders Equity $2,594,069 $2,770,416 $1,383,935 $1,648,425 $2,119,995 $2,651,402

Average Goodwill & Other Intangibles, Net of Deferred Tax Liabilities ($1,112,327) ($1,148,171) ($584,885) ($732,978) ($927,974) ($1,141,528)

Average Tangible Equity $1,481,742 $1,622,245 $799,050 $915,447 $1,192,021 $1,509,874

Return on Average Tangible Equity 7.07% 18.22% 12.23% 16.24% 14.01% 8.61%

Return on Average Tangible Equity Excluding Restructuring & Merger-

Related Expenses8.18% 18.39% 13.90% 17.78% 15.10% 9.12%


Investor Presentation (Q2 2021)...John Iannone Senior Vice President, Investor & Public Relations...

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