Wrexham have missed a golden opportunity to play a final at Wembley Stadium after losing to Peterborough United on penalties in the EFL Trophy semifinals. 

The Welsh side were 2-0 up before the visitors came roaring back in the second half to make it 2-2 to force the match to a penalty shootout, which they won 4-2. 

"We've thrown away the chance to go to Wembley," Wrexham coach Phil Parkinson told Sky Sports. "Two really poor goals [allowed], particularly the second one. All we've got to do is head the ball out of the box, deal with it and we're at Wembley."

Modou Faal opened the scoring in the 34th minute for Wrexham, holding off his marker to chip the ball over the goalkeeper from outside the box.

Less than five minutes later, George Dobson added a second.

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Peterborough pulled a goal back midway through the second half thanks to Malik Mothersille, before Bradley Ihionvien scored a dramatic equaliser in the 91st minute. 

Wrexham striker Paul Mullin missed his opening strike, before Peterborough goalkeeper Jed Steer made two saves in the shootout to help his side to Wembley. 

The result denies Wrexham, co-owned by actors Ryan Reynolds and Rob McElhenney, a meeting with Birmingham City in the final. 

Wrexham, Birmingham and Peterborough all play in League One, the third division in England.