FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

Police & Firemen's Retirement System of New Jersey's Holding History (CIK: 0002040686)

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

Q4 2025

Shares 3,164 Value ($000) $78 Avg Close $24.70 Range $22.57 - $28.14

Q3 2025

Shares 3,164 Value ($000) $79 Avg Close $25.30 Range $22.50 - $27.73

Q2 2025

Shares 3,164 Value ($000) $80 Avg Close $23.36 Range $20.34 - $26.26

Q1 2025

Shares 3,164 Value ($000) $76 Avg Close $24.80 Range $21.86 - $28.80

Q4 2024

Shares 3,164 Value ($000) $93 Avg Close $28.62 Range $24.26 - $32.69

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	3,164	$78	$24.70	$22.57 - $28.14
Q3 2025	3,164	$79	$25.30	$22.50 - $27.73
Q2 2025	3,164	$80	$23.36	$20.34 - $26.26
Q1 2025	3,164	$76	$24.80	$21.86 - $28.80
Q4 2024	3,164	$93	$28.62	$24.26 - $32.69