Preheat the oven to 350°F. Grease a 9x13-inch pan or line with parchment paper, leaving an overhang on two sides.
Beat the butter, brown sugar, granulated sugar and peanut butter on medium speed until light and fluffy, about 2 minutes.
Beat in the egg, egg yolk and vanilla until smooth.
Add the flour, baking soda and salt and mix on low just until combined. Stir in the oats.
Fold in the peanut butter chips, chocolate chips and M&Ms, saving a small handful of each for the top.
Press the dough evenly into the pan. Scatter the reserved mix-ins on top and press lightly.
Bake 20–22 minutes, until the edges are golden and the center looks just set. Do not overbake.
Press a few extra M&Ms into the warm top if desired. Cool completely in the pan, at least 1 hour, then lift out and cut into bars.
Notes
Pull the bars when the center still looks slightly soft; they finish setting as they cool.
Use regular creamy peanut butter. Natural peanut butter makes the bars greasy and crumbly.
Store airtight at room temperature up to 4 days, or freeze individually wrapped up to 3 months.