On October 25, 2024, Peoples Financial Services Corp. And Craig W. Best Mutually Agreed That Mr. Best Would Cease Serving As CEO And Director And Its Banking Subsidiary; Effective December 31, 2024; Gerard A. Champi, President Of The Co And The Bank, Will Succeed As CEO Of The Co And The Bank, And Thomas P. Tulaney, COO Will Succeed Mr. Champi As President Of The Co And The Bank

On October 25, 2024, the board of directors of Peoples Financial Services Corp. (the "Company") and Craig W. Best mutually agreed that Mr. Best would cease serving as Chief Executive Officer and director of the Company and its banking subsidiary, Peoples Security Bank and Trust Company (the "Bank"), effective December 31, 2024.

The Company consummated a merger with FNCB Bancorp, Inc. on July 1, 2024, and it had been contemplated that Mr. Best would remain as an officer of the Company and the Bank through the first anniversary of the merger. Given the progress made in the integration of the two companies and the successful completion of the Bank's system conversion on October 15, 2024, the parties determined that Mr. Best was able to leave at the end of this year.

Gerard A. Champi, President of the Company and the Bank, will succeed Mr. Best as Chief Executive Officer of the Company and the Bank, and Thomas P. Tulaney, Chief Operating Officer of the Company and the Bank, will succeed Mr. Champi as President of the Company and the Bank.