FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

Waverly Advisors, LLC's Holding History (CIK: 0001568787)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 11,926 Value ($000) $295 Avg Close $24.70 Range $22.57 - $28.14

Q3 2025

Shares 8,917 Value ($000) $223 Avg Close $25.30 Range $22.50 - $27.73

Q2 2025

Shares 8,252 Value ($000) $209 Avg Close $23.36 Range $20.34 - $26.26

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	11,926	$295	$24.70	$22.57 - $28.14
Q3 2025	8,917	$223	$25.30	$22.50 - $27.73
Q2 2025	8,252	$209	$23.36	$20.34 - $26.26