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THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2025

(Unaudited)

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2025

(UNAUDITED)


Consolidated Results:			Page
Income Statement			1
Balance Sheet			2
Average Balance Sheet			3
Details of Net Interest Margin			4

Loans			5
Allowance for Credit Losses			6-7
Nonperforming Assets			8
Accruing Loans Past Due			9-11

Business Segment Results:
Descriptions			12
Period End Employees			12
Net Income and Revenue			13
Retail Banking			14-15
Corporate & Institutional Banking			16-17
Asset Management Group			18

Glossary of Terms			19-20

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on October 15, 2025. This information speaks only as of the particular date or dates included in the schedules. We do not undertake any obligation to, and disclaim any duty to, correct or update any of the information provided in this Financial Supplement. Our future financial performance is subject to risks and uncertainties as described in our United States Securities and Exchange Commission (SEC) filings.

BUSINESS

PNC is one of the largest diversified financial services companies in the United States (U.S.) and is headquartered in Pittsburgh, Pennsylvania. PNC has businesses engaged in retail banking, corporate and institutional banking and asset management, providing many of its products and services nationally. PNC's retail branch network is located coast-to-coast. PNC also has strategic international offices in four countries outside the U.S.

PENDING ACQUISITION OF FIRSTBANK HOLDING COMPANY

On September 8, 2025, PNC announced a definitive agreement to acquire FirstBank Holding Company, including its banking subsidiary FirstBank, headquartered in Lakewood, CO for implied consideration of $4.1 billion. FirstBank operates 95 branches, with a leading position in Colorado and a substantial presence in Arizona. As of June 30, 2025, FirstBank had $26.8 billion in assets. The combination will more than triple PNC’s branch network in Colorado to 120 and increase PNC’s presence in Arizona to more than 70 branches. The transaction is expected to close in early 2026, subject to receipt of all required approvals and other customary closing conditions.


THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Third Quarter 2025 Financial Supplement (Unaudited)
Financial Supplement Table Reference

Table	Description	Page
1	Consolidated Income Statement	1
2	Consolidated Balance Sheet	2
3	Average Consolidated Balance Sheet	3
4	Details of Net Interest Margin	4

5	Details of Loans	5
6	Change in Allowance for Loan and Lease Losses	6
7	Components of the Provision for Credit Losses	7
8	Allowance for Credit Losses by Loan Class	7
9	Nonperforming Assets by Type	8
10	Change in Nonperforming Assets	8
11	Accruing Loans Past Due 30 to 59 Days	9
12	Accruing Loans Past Due 60 to 89 Days	10
13	Accruing Loans Past Due 90 Days or More	11
14	Period End Employees	12
15	Summary of Business Segment Net Income and Revenue	13
16	Retail Banking	14-15
17	Corporate & Institutional Banking	16-17
18	Asset Management Group	18


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 1

Table 1: Consolidated Income Statement (Unaudited)


	Three months ended															Nine months ended
	September 30			June 30			March 31			December 31			September 30			September 30			September 30
In millions, except per share data	2025			2025			2025			2024			2024			2025			2024
Interest Income
Loans	$	4,751		$	4,609		$	4,472		$	4,731		$	4,954		$	13,832		$	14,615
Investment securities	1,211			1,151			1,124			1,142			1,097			3,486			2,981
Other	565			510			534			621			771			1,609			2,294
Total interest income	6,527			6,270			6,130			6,494			6,822			18,927			19,890
Interest Expense
Deposits	1,980			1,845			1,808			2,010			2,230			5,633			6,391
Borrowed funds	899			870			846			961			1,182			2,615			3,523
Total interest expense	2,879			2,715			2,654			2,971			3,412			8,248			9,914
Net interest income	3,648			3,555			3,476			3,523			3,410			10,679			9,976
Noninterest Income
Asset management and brokerage	404			391			391			374			383			1,186			1,111
Capital markets and advisory	432			321			306			348			371			1,059			902
Card and cash management	737			737			692			695			698			2,166			2,075
Lending and deposit services	335			317			316			330			320			968			929
Residential and commercial mortgage	161			128			134			122			181			423			459
Other income
Gain on Visa shares exchange program	—			—			—			—			—			—			754
Securities gains (losses)	—			—			(2)			(2)			1			(2)			(498)
Other (a)	198			212			139			177			68			549			280
Total other income	198			212			137			175			69			547			536
Total noninterest income	2,267			2,106			1,976			2,044			2,022			6,349			6,012
Total revenue	5,915			5,661			5,452			5,567			5,432			17,028			15,988
Provision For Credit Losses	167			254			219			156			243			640			633
Noninterest Expense
Personnel	1,970			1,889			1,890			1,857			1,869			5,749			5,445
Occupancy	235			235			245			240			234			715			714
Equipment	416			394			384			473			357			1,194			1,054
Marketing	93			99			85			112			93			277			250
Other	747			766			783			824			774			2,296			2,555
Total noninterest expense	3,461			3,383			3,387			3,506			3,327			10,231			10,018
Income before income taxes and noncontrolling interests	2,287			2,024			1,846			1,905			1,862			6,157			5,337
Income taxes	465			381			347			278			357			1,193			1,011




Net income	1,822			1,643			1,499			1,627			1,505			4,964			4,326
Less: Net income attributable to noncontrolling interests	14			16			18			17			15			48			47
Preferred stock dividends (b)	71			83			71			94			82			225			258
Preferred stock discount accretion and redemptions	2			2			2			2			2			6			6
Net income attributable to common shareholders	$	1,735		$	1,542		$	1,408		$	1,514		$	1,406		$	4,685		$	4,015
Earnings Per Common Share
Basic	$	4.36		$	3.86		$	3.52		$	3.77		$	3.50		$	11.73		$	9.99


Diluted	$	4.35		$	3.85		$	3.51		$	3.77		$	3.49		$	11.72		$	9.98


Average Common Shares Outstanding
Basic	396			397			398			399			399			397			400
Diluted	396			397			398			399			400			397			400
Efficiency	59		%	60		%	62		%	63		%	61		%	60		%	63		%
Noninterest income to total revenue	38		%	37		%	36		%	37		%	37		%	37		%	38		%
Effective tax rate (c)	20.3		%	18.8		%	18.8		%	14.6		%	19.2		%	19.4		%	18.9		%

(a)Includes Visa derivative fair value adjustments of $(35) million, $2 million, $(40) million, $(23) million and $(128) million for the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024, respectively and $(73) million and $(251) million for the nine months ended September 30, 2025 and September 30, 2024, respectively. These adjustments are primarily related to escrow funding and the extension of anticipated litigation resolution timing.

(b)Dividends are payable quarterly, other than Series S preferred stock, which is payable semiannually.

(c)The effective income tax rates are generally lower than the statutory rate due to the relationship of pretax income to tax credits and earnings that are not subject to tax.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 2

Table 2: Consolidated Balance Sheet (Unaudited)


	September 30		June 30		March 31		December 31		September 30
In millions, except par value	2025		2025		2025		2024		2024
Assets
Cash and due from banks	$	5,553	$	5,939	$	6,102	$	6,904	$	6,162
Interest-earning deposits with banks (a)	33,318		24,455		32,298		39,347		35,024
Loans held for sale (b)	1,104		1,837		1,236		850		750
Investment securities – available-for-sale	68,297		67,136		63,318		62,039		60,338
Investment securities – held-to-maturity	73,226		75,212		74,457		77,693		83,845
Loans (b)	326,616		326,340		318,850		316,467		321,381
Allowance for loan and lease losses	(4,478)		(4,523)		(4,544)		(4,486)		(4,589)
Net loans	322,138		321,817		314,306		311,981		316,792
Equity investments	9,972		9,755		9,448		9,600		9,217
Mortgage servicing rights	3,627		3,467		3,564		3,711		3,503
Goodwill	10,962		10,932		10,932		10,932		10,932
Other (b)	40,570		38,557		39,061		36,981		38,318
Total assets	$	568,767	$	559,107	$	554,722	$	560,038	$	564,881
Liabilities
Deposits
Noninterest-bearing	$	91,207	$	93,253	$	92,369	$	92,641	$	94,588
Interest-bearing (b)	341,542		333,443		330,546		334,097		329,378
Total deposits	432,749		426,696		422,915		426,738		423,966
Borrowed funds
Federal Home Loan Bank advances	16,100		18,000		18,000		22,000		28,000
Senior debt	38,695		35,750		34,987		32,497		32,492
Subordinated debt	3,512		3,490		4,163		4,104		4,196
Other (b)	4,037		3,184		3,572		3,072		3,381
Total borrowed funds	62,344		60,424		60,722		61,673		68,069
Allowance for unfunded lending related commitments	775		759		674		719		725
Accrued expenses and other liabilities (b)	13,861		13,573		13,960		16,439		16,392
Total liabilities	509,729		501,452		498,271		505,569		509,152
Equity
Preferred stock (c)	—		—		—		—		—
Common stock - $5 par value
Authorized 800,000,000 shares, issued 543,412,079; 543,412,101; 543,310,646; 543,310,646 and 543,225,979 shares	2,717		2,717		2,717		2,717		2,716
Capital surplus	18,859		18,809		18,731		18,710		19,150
Retained earnings	62,008		60,951		60,051		59,282		58,412
Accumulated other comprehensive income (loss)	(4,077)		(4,682)		(5,237)		(6,565)		(5,090)
Common stock held in treasury at cost: 151,030,533; 149,426,326; 147,519,772; 147,373,633 and 146,306,706 shares	(20,517)		(20,188)		(19,857)		(19,719)		(19,499)
Total shareholders’ equity	58,990		57,607		56,405		54,425		55,689
Noncontrolling interests	48		48		46		44		40
Total equity	59,038		57,655		56,451		54,469		55,729
Total liabilities and equity	$	568,767	$	559,107	$	554,722	$	560,038	$	564,881

(a)Amounts include balances held with the Federal Reserve Bank of $32.7 billion, $23.9 billion, $31.9 billion, $39.0 billion and $34.6 billion as of September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024, respectively.

(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our second quarter 2025 Form 10-Q included, and our third quarter 2025 Form 10-Q will include, additional information regarding these items.

(c)Par value less than $0.5 million at each date.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 3


Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)
	Three months ended										Nine months ended
	September 30		June 30		March 31		December 31		September 30		September 30		September 30
In millions	2025		2025		2025		2024		2024		2025		2024
Assets
Interest-earning assets:
Investment securities
Securities available-for-sale
Residential mortgage-backed	$	34,752	$	34,567	$	33,793	$	32,865	$	31,491	$	34,374	$	31,088
U.S. Treasury and government agencies	26,799		25,372		24,382		23,086		17,311		25,527		13,634
Other	8,293		7,818		7,505		7,656		7,387		7,875		7,168
Total securities available-for-sale	69,844		67,757		65,680		63,607		56,189		67,776		51,890
Securities held-to-maturity
Residential mortgage-backed	42,667		40,440		40,045		40,833		41,698		41,060		42,187
U.S. Treasury and government agencies	25,540		26,900		28,931		31,049		35,093		27,111		35,472
Other	6,384		6,838		7,525		8,374		9,334		6,912		10,145
Total securities held-to-maturity	74,591		74,178		76,501		80,256		86,125		75,083		87,804
Total investment securities	144,435		141,935		142,181		143,863		142,314		142,859		139,694
Loans
Commercial and industrial	189,033		184,725		177,333		177,433		177,019		183,782		177,136
Commercial real estate	30,850		31,838		33,067		34,476		35,451		31,911		35,498
Equipment lease financing	6,870		6,801		6,692		6,737		6,528		6,789		6,495
Consumer	54,238		53,851		53,421		53,735		53,543		53,840		53,659
Residential real estate	44,941		45,539		46,111		46,677		47,061		45,526		47,253
Total loans	325,932		322,754		316,624		319,058		319,602		321,848		320,041
Interest-earning deposits with banks (c)	35,003		31,570		34,614		37,929		45,319		33,815		44,896
Other interest-earning assets	12,759		11,348		10,147		10,337		8,909		11,432		8,731
Total interest-earning assets	518,129		507,607		503,566		511,187		516,144		509,954		513,362
Noninterest-earning assets	53,404		54,079		52,811		52,911		53,369		53,350		51,784
Total assets	$	571,533	$	561,686	$	556,377	$	564,098	$	569,513	$	563,304	$	565,146
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market	$	75,890	$	70,909	$	73,063	$	73,219	$	72,578	$	73,297	$	69,361
Demand	128,962		126,222		125,046		124,294		119,914		126,760		121,356
Savings	96,627		97,028		97,409		95,957		95,939		97,018		96,960
Time deposits	37,593		35,674		32,763		35,656		37,880		35,363		35,182
Total interest-bearing deposits	339,072		329,833		328,281		329,126		326,311		332,438		322,859
Borrowed funds
Federal Home Loan Bank advances	17,615		18,319		19,703		24,014		31,785		18,538		35,142
Senior debt	38,012		36,142		34,933		32,572		32,204		36,374		30,139
Subordinated debt	3,616		3,686		4,320		4,324		4,330		3,871		4,658
Other	7,070		7,146		5,549		6,259		7,764		6,594		6,435
Total borrowed funds	66,313		65,293		64,505		67,169		76,083		65,377		76,374
Total interest-bearing liabilities	405,385		395,126		392,786		396,295		402,394		397,815		399,233
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits	92,756		93,142		92,367		96,136		95,811		92,760		96,986
Accrued expenses and other liabilities	15,624		16,942		16,214		17,068		17,395		16,382		16,983
Equity	57,768		56,476		55,010		54,599		53,913		56,347		51,944
Total liabilities and equity	$	571,533	$	561,686	$	556,377	$	564,098	$	569,513	$	563,304	$	565,146

(a)Calculated using average daily balances.

(b)Nonaccrual loans are included in loans, net of unearned income. The impact of financial derivatives used in interest rate risk management is included in the interest income/expense and average yields/rates of the related assets and liabilities. Fair value adjustments related to hedged items are included in noninterest-earning assets and noninterest-bearing liabilities. Average balances of securities are based on amortized historical cost (excluding adjustments to fair value, which are included in other assets).

(c)Amounts include average balances held with the Federal Reserve Bank of $34.2 billion, $30.8 billion, $34.2 billion, $37.5 billion and $44.9 billion for the three months ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024 and $33.1 billion and $44.5 billion for the nine months ended September 30, 2025 and September 30, 2024, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 4


Table 4: Details of Net Interest Margin (Unaudited)
	Three months ended										Nine months ended
	September 30		June 30		March 31		December 31		September 30		September 30		September 30
	2025		2025		2025		2024		2024		2025		2024
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available-for-sale
Residential mortgage-backed	3.82	%	3.76	%	3.68	%	3.60	%	3.45	%	3.76	%	3.19	%
U.S. Treasury and government agencies	4.58	%	4.55	%	4.50	%	4.75	%	5.40	%	4.56	%	4.44	%
Other	3.91	%	3.69	%	3.65	%	3.79	%	3.76	%	3.75	%	3.65	%
Total securities available-for-sale	4.12	%	4.05	%	3.98	%	4.04	%	4.09	%	4.06	%	3.58	%
Securities held-to-maturity
Residential mortgage-backed	3.07	%	2.90	%	2.84	%	2.83	%	2.82	%	2.94	%	2.79	%
U.S. Treasury and government agencies	1.51	%	1.53	%	1.49	%	1.46	%	1.33	%	1.52	%	1.32	%
Other	4.35	%	4.34	%	4.39	%	4.60	%	4.81	%	4.36	%	4.77	%
Total securities held-to-maturity	2.65	%	2.54	%	2.48	%	2.48	%	2.43	%	2.56	%	2.43	%
Total investment securities	3.36	%	3.26	%	3.17	%	3.17	%	3.08	%	3.27	%	2.85	%
Loans
Commercial and industrial	5.81	%	5.74	%	5.74	%	5.94	%	6.28	%	5.76	%	6.23	%
Commercial real estate	6.06	%	6.01	%	5.94	%	6.24	%	6.68	%	6.00	%	6.67	%
Equipment lease financing	5.14	%	4.99	%	5.05	%	5.43	%	5.65	%	5.06	%	5.40	%
Consumer	7.18	%	7.11	%	7.14	%	7.29	%	7.47	%	7.14	%	7.29	%
Residential real estate	3.75	%	3.76	%	3.78	%	3.75	%	3.73	%	3.77	%	3.69	%
Total loans	5.76	%	5.70	%	5.70	%	5.87	%	6.13	%	5.72	%	6.06	%
Interest-earning deposits with banks	4.34	%	4.38	%	4.42	%	4.86	%	5.48	%	4.37	%	5.47	%
Other interest-earning assets	5.51	%	5.66	%	6.02	%	6.17	%	6.78	%	5.71	%	6.89	%
Total yield on interest-earning assets	4.99	%	4.93	%	4.90	%	5.04	%	5.25	%	4.94	%	5.15	%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market	3.07	%	3.01	%	2.99	%	3.18	%	3.59	%	3.02	%	3.48	%
Demand	1.96	%	1.89	%	1.87	%	2.05	%	2.31	%	1.91	%	2.27	%
Savings	1.68	%	1.63	%	1.64	%	1.70	%	1.86	%	1.65	%	1.84	%
Time deposits	3.67	%	3.64	%	3.69	%	4.15	%	4.47	%	3.66	%	4.47	%
Total interest-bearing deposits	2.32	%	2.24	%	2.23	%	2.43	%	2.72	%	2.26	%	2.64	%
Borrowed funds
Federal Home Loan Bank advances	4.73	%	4.74	%	4.73	%	5.06	%	5.63	%	4.74	%	5.65	%
Senior debt	5.85	%	5.77	%	5.64	%	6.12	%	6.64	%	5.76	%	6.59	%
Subordinated debt	5.81	%	5.69	%	5.54	%	6.10	%	6.77	%	5.68	%	6.68	%
Other	4.19	%	4.24	%	4.38	%	4.70	%	5.28	%	4.26	%	5.44	%
Total borrowed funds	5.38	%	5.31	%	5.25	%	5.61	%	6.09	%	5.31	%	6.07	%
Total rate on interest-bearing liabilities	2.81	%	2.74	%	2.72	%	2.95	%	3.34	%	2.76	%	3.28	%
Interest rate spread	2.18	%	2.19	%	2.18	%	2.09	%	1.91	%	2.18	%	1.87	%
Benefit from use of noninterest-bearing sources (b)	0.61	%	0.61	%	0.60	%	0.66	%	0.73	%	0.61	%	0.73	%
Net interest margin	2.79	%	2.80	%	2.78	%	2.75	%	2.64	%	2.79	%	2.60	%

(a)Yields and rates are calculated using the applicable annualized interest income or interest expense divided by the applicable average earning assets or interest-bearing liabilities. Net interest margin is the total yield on interest-earning assets minus the total rate on interest-bearing liabilities and includes the benefit from use of noninterest-bearing sources. To provide more meaningful comparisons of net interest margins, we use net interest income on a taxable-equivalent basis in calculating average yields used in the calculation of net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. This adjustment is not permitted under GAAP in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024 were $30 million, $28 million, $28 million, $30 million and $33 million, respectively. The taxable-equivalent adjustments to net interest income for the nine months ended September 30, 2025 and September 30, 2024 were $86 million and $101 million, respectively.

(b)Represents the positive effects of investing noninterest-bearing sources in interest-earning assets.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 5

Table 5: Details of Loans (Unaudited)


	September 30		June 30		March 31		December 31		September 30
In millions	2025		2025		2025		2024		2024
Commercial
Commercial and industrial
Financial services	$	33,347	$	31,815	$	29,335	$	27,737	$	29,244
Manufacturing	30,256		31,135		28,934		27,700		28,748
Service providers	23,830		23,071		22,943		21,881		22,033
Wholesale trade	19,350		19,460		19,176		18,399		18,338
Real estate related (a)	15,059		14,873		15,041		14,910		14,856
Retail trade	12,358		12,923		11,941		11,611		11,888
Technology, media and telecommunications	11,368		11,079		9,998		9,767		9,292
Health care	9,571		9,590		9,903		9,694		10,169
Transportation and warehousing	7,492		7,164		7,147		7,320		7,723
Other industries	27,565		27,720		26,119		26,771		26,600
Total commercial and industrial	190,196		188,830		180,537		175,790		178,891
Commercial real estate	30,281		31,250		32,307		33,619		35,104
Equipment lease financing	6,898		6,928		6,732		6,755		6,726
Total commercial	227,375		227,008		219,576		216,164		220,721
Consumer
Residential real estate	44,637		45,257		45,890		46,415		46,972
Home equity	25,942		25,928		25,846		25,991		25,970
Automobile	16,272		15,892		15,324		15,355		15,135
Credit card	6,636		6,570		6,550		6,879		6,827
Education	1,521		1,547		1,597		1,636		1,693
Other consumer	4,233		4,138		4,067		4,027		4,063
Total consumer	99,241		99,332		99,274		100,303		100,660
Total loans	$	326,616	$	326,340	$	318,850	$	316,467	$	321,381

(a)Represents loans to customers in the real estate and construction industries.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 6

Allowance for Credit Losses (Unaudited)

Table 6: Change in Allowance for Loan and Lease Losses


	Three months ended															Nine months ended
	September 30			June 30			March 31			December 31			September 30			September 30			September 30
Dollars in millions	2025			2025			2025			2024			2024			2025			2024
Allowance for loan and lease losses
Beginning balance	$	4,523		$	4,544		$	4,486		$	4,589		$	4,636		$	4,486		$	4,791
Gross charge-offs:
Commercial and industrial	(92)			(89)			(103)			(78)			(89)			(284)			(250)
Commercial real estate	(19)			(64)			(18)			(87)			(102)			(101)			(271)
Equipment lease financing	(5)			(10)			(10)			(9)			(9)			(25)			(25)
Residential real estate	(6)			—			(2)			(1)			—			(8)			(2)
Home equity	(10)			(9)			(9)			(9)			(8)			(28)			(27)
Automobile	(32)			(30)			(35)			(33)			(34)			(97)			(98)
Credit card	(76)			(81)			(90)			(87)			(86)			(247)			(268)
Education	(3)			(4)			(5)			(6)			(4)			(12)			(13)
Other consumer	(41)			(37)			(40)			(44)			(44)			(118)			(127)
Total gross charge-offs	(284)			(324)			(312)			(354)			(376)			(920)			(1,081)
Recoveries:
Commercial and industrial	32			48			35			39			22			115			80
Commercial real estate	6			8			5			2			2			19			11
Equipment lease financing	6			5			7			5			4			18			12
Residential real estate	3			3			2			2			2			8			8
Home equity	7			12			8			11			10			27			31
Automobile	25			24			23			23			25			72			74
Credit card	17			15			15			13			15			47			42
Education	—			2			2			1			2			4			5
Other consumer	9			9			10			8			8			28			27
Total recoveries	105			126			107			104			90			338			290
Net (charge-offs) / recoveries:
Commercial and industrial	(60)			(41)			(68)			(39)			(67)			(169)			(170)
Commercial real estate	(13)			(56)			(13)			(85)			(100)			(82)			(260)
Equipment lease financing	1			(5)			(3)			(4)			(5)			(7)			(13)
Residential real estate	(3)			3			—			1			2			—			6
Home equity	(3)			3			(1)			2			2			(1)			4
Automobile	(7)			(6)			(12)			(10)			(9)			(25)			(24)
Credit card	(59)			(66)			(75)			(74)			(71)			(200)			(226)
Education	(3)			(2)			(3)			(5)			(2)			(8)			(8)
Other consumer	(32)			(28)			(30)			(36)			(36)			(90)			(100)
Total net (charge-offs)	(179)			(198)			(205)			(250)			(286)			(582)			(791)
Provision for credit losses (a)	136			171			260			155			235			567			586
Other	(2)			6			3			(8)			4			7			3
Ending balance	$	4,478		$	4,523		$	4,544		$	4,486		$	4,589		$	4,478		$	4,589
Supplemental Information
Net charge-offs
Commercial net charge-offs	$	(72)		$	(102)		$	(84)		$	(128)		$	(172)		$	(258)		$	(443)
Consumer net charge-offs	(107)			(96)			(121)			(122)			(114)			(324)			(348)
Total net charge-offs	$	(179)		$	(198)		$	(205)		$	(250)		$	(286)		$	(582)		$	(791)
Net charge-offs to average loans (annualized)	0.22		%	0.25		%	0.26		%	0.31		%	0.36		%	0.24		%	0.33		%
Commercial	0.13		%	0.18		%	0.16		%	0.23		%	0.31		%	0.15		%	0.27		%
Consumer	0.43		%	0.39		%	0.49		%	0.48		%	0.45		%	0.44		%	0.46		%

(a)See Table 7 for the components of the Provision for credit losses being reported on the Consolidated Income Statement.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 7

Allowance for Credit Losses (Unaudited) (Continued)

Table 7: Components of the Provision for Credit Losses


	Three months ended										Nine months ended
	September 30		June 30		March 31		December 31		September 30		September 30		September 30
In millions	2025		2025		2025		2024		2024		2025		2024
Provision for credit losses
Loans and leases	$	136	$	171	$	260	$	155	$	235	$	567	$	586
Unfunded lending related commitments	16		84		(46)		(5)		7		54		61
Investment securities	(1)		(1)		3		—		—		1		(10)
Other financial assets	16		—		2		6		1		18		(4)
Total provision for credit losses	$	167	$	254	$	219	$	156	$	243	$	640	$	633

Table 8: Allowance for Credit Losses by Loan Class (a)


	September 30, 2025						June 30, 2025						September 30, 2024
Dollars in millions	Allowance Amount		Total Loans		% of Total Loans		Allowance Amount		Total Loans		% of Total Loans		Allowance Amount		Total Loans		% of Total Loans
Allowance for loan and lease losses
Commercial
Commercial and industrial	$	1,951	$	190,196	1.03	%	$	1,864	$	188,830	0.99	%	$	1,715	$	178,891	0.96	%
Commercial real estate	1,142		30,281		3.77	%	1,282		31,250		4.10	%	1,441		35,104		4.10	%
Equipment lease financing	85		6,898		1.23	%	84		6,928		1.21	%	70		6,726		1.04	%
Total commercial	3,178		227,375		1.40	%	3,230		227,008		1.42	%	3,226		220,721		1.46	%
Consumer
Residential real estate	50		44,637		0.11	%	52		45,257		0.11	%	38		46,972		0.08	%
Home equity	285		25,942		1.10	%	292		25,928		1.13	%	270		25,970		1.04	%
Automobile	153		16,272		0.94	%	151		15,892		0.95	%	164		15,135		1.08	%
Credit card	596		6,636		8.98	%	579		6,570		8.81	%	672		6,827		9.84	%
Education	43		1,521		2.83	%	46		1,547		2.97	%	49		1,693		2.89	%
Other consumer	173		4,233		4.09	%	173		4,138		4.18	%	170		4,063		4.18	%
Total consumer	1,300		99,241		1.31	%	1,293		99,332		1.30	%	1,363		100,660		1.35	%
Total	4,478		$	326,616	1.37	%	4,523		$	326,340	1.39	%	4,589		$	321,381	1.43	%
Allowance for unfunded lending related commitments	775						759						725
Allowance for credit losses	$	5,253					$	5,282					$	5,314

Supplemental Information
Allowance for credit losses to total loans					1.61	%					1.62	%					1.65	%
Commercial					1.68	%					1.69	%					1.72	%
Consumer					1.45	%					1.45	%					1.50	%

(a) Excludes allowances for investment securities and other financial assets, which together totaled $101 million, $88 million and $111 million at September 30, 2025, June 30, 2025 and September 30, 2024, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 8

Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type


	September 30			June 30			March 31			December 31			September 30
Dollars in millions	2025			2025			2025			2024			2024
Nonperforming loans
Commercial
Commercial and industrial
Service providers	$	115		$	124		$	140		$	187		$	152
Wholesale trade	95			17			15			43			127
Technology, media and telecommunications	83			31			52			73			74
Manufacturing	74			71			96			30			35
Transportation and warehousing	47			47			44			47			46
Health care	45			53			76			73			75
Retail trade	36			63			121			18			22
Real estate related (a)	17			21			22			24			29
Other industries	71			35			30			33			162
Total commercial and industrial	583			462			596			528			722
Commercial real estate	663			753			851			919			993
Equipment lease financing	36			36			20			15			14
Total commercial	1,282			1,251			1,467			1,462			1,729
Consumer (b)
Residential real estate	326			325			287			278			265
Home equity	431			436			437			482			473
Automobile	82			80			83			86			90
Credit card	13			13			15			15			15
Other consumer	3			3			3			3			6
Total consumer	855			857			825			864			849
Total nonperforming loans (c)	2,137			2,108			2,292			2,326			2,578
OREO, foreclosed and other assets (d)	162			33			32			31			31
Total nonperforming assets	$	2,299		$	2,141		$	2,324		$	2,357		$	2,609
Nonperforming loans to total loans	0.65		%	0.65		%	0.72		%	0.73		%	0.80		%
Nonperforming assets to total loans, OREO, foreclosed and other assets (d)	0.70		%	0.66		%	0.73		%	0.74		%	0.81		%
Nonperforming assets to total assets	0.40		%	0.38		%	0.42		%	0.42		%	0.46		%
Allowance for loan and lease losses to nonperforming loans	210		%	215		%	198		%	193		%	178		%

(a)Represents loans related to customers in the real estate and construction industries.

(b)Excludes most unsecured consumer loans and lines of credit, which are charged off after 120 to 180 days past due and are not placed on nonperforming status.

(c)Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale and loans accounted for under the fair value option.

(d)Amounts at September 30, 2025 include $127 million of nonaccrual servicing advances to single asset/single borrower trusts with commercial real estate as collateral.

Table 10: Change in Nonperforming Assets


	Three months ended
	September 30		June 30		March 31		December 31		September 30
Dollars in millions	2025		2025		2025		2024		2024
Beginning balance	$	2,141	$	2,324	$	2,357	$	2,609	$	2,537

New nonperforming assets	653		367		477		397		661
Charge-offs and valuation adjustments	(103)		(149)		(135)		(174)		(200)
Principal activity, including paydowns and payoffs	(299)		(312)		(156)		(401)		(322)
Asset sales and transfers to loans held for sale	(13)		(5)		(77)		(15)		(6)
Returned to performing status	(80)		(84)		(142)		(59)		(61)
Ending balance	$	2,299	$	2,141	$	2,324	$	2,357	$	2,609


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 9

Accruing Loans Past Due (Unaudited)

Table 11: Accruing Loans Past Due 30 to 59 Days (a)



	September 30			June 30			March 31			December 31			September 30
Dollars in millions	2025			2025			2025			2024			2024
Commercial
Commercial and industrial	$	147		$	118		$	216		$	159		$	106
Commercial real estate	9			43			6			25			9
Equipment lease financing	14			15			41			41			22
Total commercial	170			176			263			225			137
Consumer
Residential real estate
Non government insured	166			169			208			161			162
Government insured	79			78			79			73			76
Home equity	73			62			71			71			65
Automobile	70			74			73			83			81
Credit card	45			42			45			49			55
Education
Non government insured	6			4			5			5			6
Government insured	18			18			20			20			20
Other consumer	8			12			10			10			12
Total consumer	465			459			511			472			477
Total	$	635		$	635		$	774		$	697		$	614
Supplemental Information
Total accruing loans past due 30-59 days to total loans	0.19		%	0.19		%	0.24		%	0.22		%	0.19		%
Commercial	0.07		%	0.08		%	0.12		%	0.10		%	0.06		%
Consumer	0.47		%	0.46		%	0.51		%	0.47		%	0.47		%

(a)Excludes loans held for sale.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 10

Accruing Loans Past Due (Unaudited) (Continued)

Table 12: Accruing Loans Past Due 60 to 89 Days (a)


	September 30			June 30			March 31			December 31			September 30
Dollars in millions	2025			2025			2025			2024			2024
Commercial
Commercial and industrial	$	60		$	91		$	34		$	43		$	40
Commercial real estate	—			6			—			18			—
Equipment lease financing	7			10			11			12			12
Total commercial	67			107			45			73			52
Consumer
Residential real estate
Non government insured	48			52			93			58			40
Government insured	39			39			39			48			45
Home equity	27			28			28			26			27
Automobile	17			19			19			22			21
Credit card	31			32			33			38			39
Education
Non government insured	3			3			3			2			3
Government insured	12			11			11			13			13
Other consumer	7			6			7			8			12
Total consumer	184			190			233			215			200
Total	$	251		$	297		$	278		$	288		$	252
Supplemental Information
Total accruing loans past due 60-89 days to total loans	0.08		%	0.09		%	0.09		%	0.09		%	0.08		%
Commercial	0.03		%	0.05		%	0.02		%	0.03		%	0.02		%
Consumer	0.19		%	0.19		%	0.23		%	0.21		%	0.20		%

(a)Excludes loans held for sale.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 11

Accruing Loans Past Due (Unaudited) (Continued)

Table 13: Accruing Loans Past Due 90 Days or More (a)


	September 30			June 30			March 31			December 31			September 30
Dollars in millions	2025			2025			2025			2024			2024
Commercial
Commercial and industrial	$	71		$	79		$	75		$	72		$	97
Commercial real estate	1			—			—			—			—
Total commercial	72			79			75			72			97
Consumer
Residential real estate
Non government insured	38			53			53			56			52
Government insured	126			129			130			132			127
Automobile	4			5			7			9			6
Credit card	63			64			71			81			79
Education
Non government insured	1			2			2			2			2
Government insured	35			32			34			37			38
Other consumer	8			7			7			8			8
Total consumer	275			292			304			325			312
Total	$	347		$	371		$	379		$	397		$	409
Supplemental Information
Total accruing loans past due 90 days or more to total loans	0.11		%	0.11		%	0.12		%	0.13		%	0.13		%
Commercial	0.03		%	0.03		%	0.03		%	0.03		%	0.04		%
Consumer	0.28		%	0.29		%	0.31		%	0.32		%	0.31		%
Total accruing loans past due	$	1,233		$	1,303		$	1,431		$	1,382		$	1,275
Commercial	$	309		$	362		$	383		$	370		$	286
Consumer	$	924		$	941		$	1,048		$	1,012		$	989
Total accruing loans past due to total loans	0.38		%	0.40		%	0.45		%	0.44		%	0.40		%
Commercial	0.14		%	0.16		%	0.17		%	0.17		%	0.13		%
Consumer	0.93		%	0.95		%	1.06		%	1.01		%	0.98		%

(a)Excludes loans held for sale.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 12

Business Segment Descriptions (Unaudited)

Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers who are serviced through our coast-to-coast branch network, digital channels, ATMs, or through our phone-based customer contact centers. Deposit products include checking, savings and money market accounts and time deposits. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans and personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained or held on our balance sheet. Brokerage, investment management and cash management products and services include managed, education, retirement and trust accounts.

Corporate & Institutional Banking provides lending, treasury management, capital markets and advisory products and services to mid-sized and large corporations and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. The Treasury Management business provides corporations with cash and investment management services, receivables and disbursement management services, funds transfer services and access to online/mobile information management and reporting services. Capital markets and advisory includes services and activities primarily related to merger and acquisitions advisory, equity capital markets advisory, asset-backed financing, loan syndication, securities underwriting and customer-related trading. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides private banking for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is composed of two operating units:

•PNC Private Bank provides products and services to emerging affluent, high net worth and ultra high net worth individuals and their families including investment and retirement planning, customized investment management, credit and cash management solutions, trust management and administration. In addition, multi-generational family planning services are also provided to ultra high net worth individuals and their families, which include estate, financial, tax, fiduciary and customized performance reporting through PNC Private Bank Hawthorn.

•Institutional Asset Management provides outsourced chief investment officer, custody, cash and fixed income client solutions and retirement plan fiduciary investment services to institutional clients including corporations, healthcare systems, insurance companies, unions, municipalities and non-profits.

Table 14: Period End Employees


	September 30	June 30	March 31	December 31	September 30
	2025	2025	2025	2024	2024
Full-time employees
Retail Banking	26,126	26,291	27,108	27,513	27,740
Other full-time employees	27,397	26,884	26,360	26,173	26,009
Total full-time employees	53,523	53,175	53,468	53,686	53,749
Part-time employees
Retail Banking	1,367	1,465	1,460	1,451	1,451
Other part-time employees	48	407	48	47	49
Total part-time employees	1,415	1,872	1,508	1,498	1,500
Total	54,938	55,047	54,976	55,184	55,249


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 13

Table 15: Summary of Business Segment Net Income and Revenue (Unaudited) (a)


	Three months ended										Nine months ended
	September 30		June 30		March 31		December 31		September 30		September 30		September 30
In millions	2025		2025		2025		2024		2024		2025		2024
Net Income
Retail Banking (b)	$	1,324	$	1,359	$	1,121	$	1,083	$	1,172	$	3,804	$	3,980
Corporate & Institutional Banking	1,459		1,229		1,244		1,365		1,197		3,932		3,364
Asset Management Group (b)	117		129		105		95		96		351		281
Other (b)	(1,092)		(1,090)		(989)		(933)		(975)		(3,171)		(3,346)
Net income excluding noncontrolling interests	$	1,808	$	1,627	$	1,481	$	1,610	$	1,490	$	4,916	$	4,279

Revenue
Retail Banking (b)	$	3,806	$	3,756	$	3,542	$	3,542	$	3,494	$	11,104	$	11,005
Corporate & Institutional Banking	2,909		2,720		2,630		2,755		2,645		8,259		7,584
Asset Management Group (b)	430		423		417		403		393		1,270		1,159
Other (b)	(1,230)		(1,238)		(1,137)		(1,133)		(1,100)		(3,605)		(3,760)
Total revenue	$	5,915	$	5,661	$	5,452	$	5,567	$	5,432	$	17,028	$	15,988

(a)Our business information is presented based on our internal management reporting practices. Net interest income in business segment results reflects PNC’s internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.

(b)See the Retail Banking and Asset Management Group tables that follow for details on reclassifications made during the second quarter of 2025 that impact both Net Income and Revenue. Prior periods have been adjusted to conform with the current presentation.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 14

Table 16: Retail Banking (Unaudited) (a)


	Three months ended																	Nine months ended
	September 30			June 30				March 31				December 31			September 30			September 30			September 30
Dollars in millions	2025			2025				2025				2024			2024			2025			2024
Income Statement
Net interest income (b)(c)	$	3,016		$	2,974			$	2,836			$	2,834		$	2,793		$	8,826		$	8,131
Noninterest income	790			782				706				708			701			2,278			2,874
Total revenue (b)(c)	3,806			3,756				3,542				3,542			3,494			11,104			11,005
Provision for credit losses	126			83				168				106			111			377			256
Noninterest expense (d)
Personnel	529			539				538				536			539			1,606			1,613
Segment allocations (e)	979			978				967				977			930			2,924			2,797
Depreciation and amortization	97			87				86				72			75			270			228
Other (f)	336			286				311				425			298			933			882
Total noninterest expense	1,941			1,890				1,902				2,010			1,842			5,733			5,520
Pretax earnings (b)(c)	1,739			1,783				1,472				1,426			1,541			4,994			5,229
Income taxes (b)(c)	406			414				342				332			360			1,162			1,221
Noncontrolling interests	9			10				9				11			9			28			28
Earnings (b)(c)	$	1,324		$	1,359		752	$	1,121		322	$	1,083		$	1,172		$	3,804		$	3,980
Average Balance Sheet
Loans held for sale	$	785		$	874			$	860			$	873		$	986		$	839		$	703
Loans (b)
Consumer
Residential real estate	$	34,043		$	34,647			$	35,197			$	35,658		$	35,953		$	34,624		$	36,245
Home equity	24,551			24,551				24,549				24,604			24,542			24,549			24,581
Automobile	16,035			15,738				15,240				15,213			15,000			15,674			14,875
Credit card	6,561			6,483				6,568				6,779			6,805			6,537			6,858
Education	1,545			1,586				1,637				1,674			1,723			1,589			1,825
Other consumer	1,789			1,756				1,754				1,776			1,756			1,768			1,757
Total consumer	84,524			84,761				84,945				85,704			85,779			84,741			86,141
Commercial	12,353			12,725				12,841				12,927			12,789			12,638			12,733
Total loans	$	96,877		$	97,486			$	97,786			$	98,631		$	98,568		$	97,379		$	98,874
Total assets (b)	$	114,146		$	114,061			$	115,176			$	117,175		$	116,477		$	114,447		$	116,728
Deposits (b)
Noninterest-bearing	$	52,604		$	52,353			$	51,307			$	52,503		$	53,069		$	52,093		$	53,358
Interest-bearing (c)	190,652			191,190				189,563				187,011			185,940			190,470			186,650
Total deposits	$	243,256		$	243,543			$	240,870			$	239,514		$	239,009		$	242,563		$	240,008
Performance Ratios (b)(c)
Return on average assets	4.60		%	4.78		%		3.95		%		3.67		%	3.99		%	4.44		%	4.56		%
Noninterest income to total revenue	21		%	21		%		20		%		20		%	20		%	21		%	26		%
Efficiency	51		%	50		%		54		%		57		%	53		%	52		%	50		%

(continued on following page)


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 15

Retail Banking (Unaudited) (Continued)


	Three months ended															Nine months ended
	September 30			June 30			March 31			December 31			September 30			September 30			September 30
Dollars in millions, except as noted	2025			2025			2025			2024			2024			2025			2024
Supplemental Noninterest Income Information
Asset management and brokerage	$	154		$	150		$	152		$	135		$	145		$	456		$	417
Card and cash management	$	334		$	328		$	296		$	308		$	319		$	958		$	955
Lending and deposit services	$	199		$	190		$	184		$	191		$	193		$	573		$	553
Residential and commercial mortgage	$	89		$	61		$	65		$	46		$	129		$	215		$	296
Other income - Gain on Visa shares exchange program	$	—		$	—		$	—		$	—		$	—		$	—		$	754
Residential Mortgage Information
Residential mortgage servicing statistics (in billions, except as noted) (g)
Serviced portfolio balance (h)	$	199		$	189		$	193		$	197		$	200
MSR asset value (h)	$	2.6		$	2.5		$	2.5		$	2.6		$	2.5
Servicing income: (in millions)
Servicing fees, net (i)	$	60		$	60		$	71		$	69		$	69		$	191		$	218
Mortgage servicing rights valuation net of economic hedge	$	18		$	2		$	(4)		$	(28)		$	53		$	16		$	33
Residential mortgage loan statistics
Loan origination volume (in billions)	$	1.5		$	1.7		$	1.0		$	1.6		$	1.8		$	4.2		$	4.8
Loan sale margin percentage	1.67		%	0.91		%	0.58		%	1.26		%	1.45		%	1.10		%	1.92		%
Other Information


Credit-related statistics
Nonperforming assets (h)	$	827		$	812		$	804		$	848		$	836
Net charge-offs - loans and leases	$	126		$	120		$	144		$	152		$	141		$	390		$	418
Other statistics
Branches (h)(j)	2,219			2,218			2,217			2,234			2,242
Brokerage account client assets (in billions) (h)(k)	$	89		$	87		$	84		$	84		$	84

(a)See note (a) on page 13.

(b)During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.

(c)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation.

(d)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.

(e)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(f)Other is primarily comprised of other direct expenses including outside services and equipment expense. Amounts for the fourth quarter of 2024 also include asset impairments primarily related to technology investments.

(g)Represents mortgage loan servicing balances for third parties and the related income.

(h)Presented as of period end.

(i)Servicing fees net of impact of decrease in MSR value due to passage of time, which includes the impact from regularly scheduled loan principal payments, prepayments and loans paid off during the period.

(j)Reflects all branches excluding standalone mortgage offices and satellite offices (e.g., drive-ups, electronic branches and retirement centers) that provide limited products and/or services.

(k)Includes cash and money market balances.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 16

Table 17: Corporate & Institutional Banking (Unaudited) (a)


	Three months ended															Nine months ended
	September 30			June 30			March 31			December 31			September 30			September 30			September 30
Dollars in millions	2025			2025			2025			2024			2024			2025			2024
Income Statement
Net interest income	$	1,777		$	1,698		$	1,652		$	1,688		$	1,615		$	5,127		$	4,724
Noninterest income	1,132			1,022			978			1,067			1,030			3,132			2,860
Total revenue	2,909			2,720			2,630			2,755			2,645			8,259			7,584
Provision for credit losses	44			184			49			44			134			277			409
Noninterest expense
Personnel	403			370			376			401			393			1,149			1,107
Segment allocations (b)	387			381			383			386			371			1,151			1,111
Depreciation and amortization	46			49			51			51			50			146			151
Other (c)	140			150			146			143			136			436			414
Total noninterest expense	976			950			956			981			950			2,882			2,783
Pretax earnings	1,889			1,586			1,625			1,730			1,561			5,100			4,392
Income taxes	425			352			377			361			359			1,154			1,013
Noncontrolling interests	5			5			4			4			5			14			15
Earnings	$	1,459		$	1,229		$	1,244		$	1,365		$	1,197		$	3,932		$	3,364
Average Balance Sheet
Loans held for sale	$	691		$	775		$	255		$	832		$	339		$	575		$	234
Loans
Commercial
Commercial and industrial	$	175,615		$	170,829		$	163,379		$	163,410		$	163,061		$	169,985		$	163,156
Commercial real estate	30,032			30,962			32,151			33,525			34,450			31,041			34,437
Equipment lease financing	6,869			6,801			6,692			6,737			6,529			6,788			6,496
Total commercial	212,516			208,592			202,222			203,672			204,040			207,814			204,089
Consumer	2			4			3			3			3			3			3
Total loans	$	212,518		$	208,596		$	202,225		$	203,675		$	204,043		$	207,817		$	204,092
Total assets	$	238,338		$	234,391		$	227,069		$	227,845		$	227,277		$	233,307		$	228,518
Deposits
Noninterest-bearing	$	38,732		$	39,196		$	39,501		$	42,119		$	41,174		$	39,140		$	42,068
Interest-bearing	116,460			107,275			108,503			109,205			104,872			110,775			100,824
Total deposits	$	155,192		$	146,471		$	148,004		$	151,324		$	146,046		$	149,915		$	142,892
Performance Ratios
Return on average assets	2.43		%	2.10		%	2.22		%	2.38		%	2.09		%	2.25		%	1.97		%
Noninterest income to total revenue	39		%	38		%	37		%	39		%	39		%	38		%	38		%
Efficiency	34		%	35		%	36		%	36		%	36		%	35		%	37		%

(continued on following page)


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 17

Corporate & Institutional Banking (Unaudited) (Continued)


	Three months ended										Nine months ended
	September 30		June 30		March 31		December 31		September 30		September 30		September 30
Dollars in millions	2025		2025		2025		2024		2024		2025		2024
Other Information
Consolidated revenue from:
Treasury Management (d)	$	1,120	$	1,077	$	1,049	$	1,058	$	974	$	3,246	$	2,864
Commercial mortgage banking activities:
Commercial mortgage loans held for sale (e)	$	22	$	24	$	26	$	38	$	16	$	72	$	43
Commercial mortgage loan servicing income (f)	121		116		94		112		90		331		241
Commercial mortgage servicing rights valuation, net of economic hedge	47		36		39		39		32		122		108
Total	$	190	$	176	$	159	$	189	$	138	$	525	$	392
Commercial mortgage servicing statistics
Serviced portfolio balance (in billions) (g)(h)	$	293	$	295	$	294	$	290	$	289
MSR asset value (g)	$	1,006	$	1,010	$	1,041	$	1,085	$	975
Average loans by C&IB business
Corporate Banking	$	126,994	$	123,069	$	117,659	$	116,364	$	116,330	$	122,608	$	116,537
Real Estate	41,863		42,533		43,283		45,472		46,181		42,555		46,258
Business Credit	32,412		31,544		30,044		30,343		29,825		31,342		29,470
Commercial Banking	7,158		7,281		7,343		7,290		7,438		7,260		7,503
Other	4,091		4,169		3,896		4,206		4,269		4,052		4,324
Total average loans	$	212,518	$	208,596	$	202,225	$	203,675	$	204,043	$	207,817	$	204,092
Credit-related statistics
Nonperforming assets (g)	$	1,323	$	1,160	$	1,372	$	1,368	$	1,624
Net charge-offs - loans and leases	$	53	$	83	$	64	$	100	$	147	$	200	$	384

(a)See note (a) on page 13.

(b)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(c)Other is primarily comprised of other direct expenses including outside services and equipment expense.

(d)Amounts are reported in net interest income and noninterest income.

(e)Represents commercial mortgage banking income for valuations on commercial mortgage loans held for sale and related commitments, derivative valuations, origination fees, gains on sale of loans held for sale and net interest income on loans held for sale.

(f)Represents net interest income and noninterest income from loan servicing, net of reduction in commercial mortgage servicing rights due to time and payoffs. Commercial mortgage servicing rights valuation, net of economic hedge is shown separately.

(g)Presented as of period end.

(h)Represents balances related to capitalized servicing.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 18

Table 18: Asset Management Group (Unaudited) (a)


	Three months ended															Nine months ended
	September 30			June 30			March 31			December 31			September 30			September 30			September 30
Dollars in millions, except as noted	2025			2025			2025			2024			2024			2025			2024
Income Statement
Net interest income (b)	$	176		$	179		$	174		$	161		$	151		$	529		$	452
Noninterest income	254			244			243			242			242			741			707
Total revenue (b)	430			423			417			403			393			1,270			1,159
Provision for (recapture of) credit losses	4			(13)			1			2			(2)			(8)			(5)
Noninterest expense
Personnel	115			115			121			116			120			351			356
Segment allocations (c)	120			118			117			123			114			355			331
Depreciation and amortization	9			10			8			8			6			27			22
Other (d)	29			25			33			30			30			87			87
Total noninterest expense	273			268			279			277			270			820			796
Pretax earnings (b)	153			168			137			124			125			458			368
Income taxes (b)	36			39			32			29			29			107			87
Earnings (b)	$	117		$	129		$	105		$	95		$	96		$	351		$	281
Average Balance Sheet
Loans (b)
Consumer
Residential real estate	$	9,937		$	9,912		$	9,907		$	9,981		$	10,035		$	9,919		$	9,900
Other consumer	3,574			3,543			3,472			3,480			3,498			3,530			3,533
Total consumer	13,511			13,455			13,379			13,461			13,533			13,449			13,433
Commercial	659			731			657			668			714			682			792
Total loans	$	14,170		$	14,186		$	14,036		$	14,129		$	14,247		$	14,131		$	14,225
Total assets (b)	$	14,575		$	14,629		$	14,482		$	14,580		$	14,690		$	14,562		$	14,667
Deposits (b)
Noninterest-bearing	$	1,426		$	1,585		$	1,540		$	1,539		$	1,595		$	1,517		$	1,566
Interest-bearing	25,437			25,327			26,106			25,669			25,186			25,621			25,888
Total deposits	$	26,863		$	26,912		$	27,646		$	27,208		$	26,781		$	27,138		$	27,454
Performance Ratios (b)
Return on average assets	3.18		%	3.54		%	2.94		%	2.59		%	2.59		%	3.22		%	2.56		%
Noninterest income to total revenue	59		%	58		%	58		%	60		%	62		%	58		%	61		%
Efficiency	63		%	63		%	67		%	69		%	69		%	65		%	69		%
Other Information
Nonperforming assets (e)	$	58		$	63		$	36		$	28		$	36
Net charge-offs (recoveries) - loans and leases	$	2		$	(1)		$	—		$	2		$	—		$	1		$	—
Client Assets Under Administration (in billions) (e)(f)
Discretionary client assets under management
PNC Private Bank	$	137		$	131		$	127		$	129		$	132
Institutional Asset Management	91			86			83			82			82
Total discretionary clients assets under management	228			217			210			211			214
Nondiscretionary client assets under administration	212			204			201			210			216
Total	$	440		$	421		$	411		$	421		$	430

(a)See note (a) on page 13.

(c)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(d)Other is primarily comprised of other direct expenses including outside services and equipment expense.

(e)Presented as of period end.

(f)Excludes brokerage account client assets.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 19

Glossary of Terms

Allowance for credit losses (ACL) – A valuation account that is deducted from or added to the amortized cost basis of the related

financial assets to present the net carrying value at the amount expected to be collected on the financial asset.

Amortized cost basis – Amount at which a financial asset is originated or acquired, adjusted for applicable accretion or amortization of premiums, discounts and net deferred fees or costs, collection of cash, charge-offs, foreign exchange and fair value hedge accounting adjustments.

Basel III common equity Tier 1 (CET1) capital (Tailoring Rules) – Common stock plus related surplus, net of treasury stock, plus retained earnings, less goodwill, net of associated deferred tax liabilities, less other disallowed intangibles, net of deferred tax liabilities and plus/less other adjustments. Investments in unconsolidated financial institutions, as well as mortgage servicing rights and deferred tax assets, must then be deducted to the extent such items (net of associated deferred tax liabilities) individually exceed 25% of our adjusted Basel III common equity Tier 1 capital.

Basel III common equity Tier 1 capital ratio – Common equity Tier 1 capital divided by period-end risk-weighted assets (as applicable).

Basel III Tier 1 capital – Common equity Tier 1 capital, plus qualifying preferred stock, plus certain trust preferred capital securities, plus certain noncontrolling interests that are held by others and plus/less other adjustments.

Basel III Tier 1 capital ratio – Tier 1 capital divided by period-end risk-weighted assets (as applicable).

Basel III Total capital – Tier 1 capital plus qualifying subordinated debt, plus certain trust preferred securities, plus, under the Basel III transitional rules and the standardized approach, the allowance for loan and lease losses included in Tier 2 capital and other.

Basel III Total capital ratio – Basel III Total capital divided by period-end risk-weighted assets (as applicable).

Charge-off – Process of removing a loan or portion of a loan from our balance sheet because it is considered uncollectible. We also record a charge-off when a loan is transferred from portfolio holdings to held for sale by reducing the loan carrying amount to the fair value of the loan, if fair value is less than carrying amount.

Common shareholders’ equity – Total shareholders' equity less the liquidation value of preferred stock.

Credit valuation adjustment – Represents an adjustment to the fair value of our derivatives for our own and counterparties’ non-performance risk.

Criticized commercial loans – Loans with potential or identified weaknesses based upon internal risk ratings that comply with the regulatory classification definitions of “special mention,” “substandard” or “doubtful.”

Current Expected Credit Loss (CECL) – Methodology for estimating the allowance for credit losses on in-scope financial assets held at amortized cost and unfunded lending related commitments which uses a combination of expected losses over a reasonable and supportable forecast period, a reversion period and long run average credit losses for their estimated contractual term.

Discretionary client assets under management – Assets over which we have sole or shared investment authority for our customers/clients. We do not include these assets on our Consolidated Balance Sheet.

Earning assets – Assets that generate income, which include: interest-earning deposits with banks; loans held for sale; loans; investment securities; and certain other assets.

Effective duration – A measurement, expressed in years, that, when multiplied by a change in interest rates, would approximate the percentage change in value of on- and off- balance sheet positions.

Efficiency – Noninterest expense divided by total revenue.

Fair value – The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fee income – Refers to the following categories within Noninterest income: Asset management and brokerage, Capital markets and advisory, Card and cash management, Lending and deposit services, and Residential and commercial mortgage.

GAAP – Accounting principles generally accepted in the United States of America.

Leverage ratio – Basel III Tier 1 capital divided by average quarterly adjusted total assets.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 20

Nondiscretionary client assets under administration – Assets we hold for our customers/clients in a nondiscretionary, custodial capacity. We do not include these assets on our Consolidated Balance Sheet.

Nonperforming assets – Nonperforming assets include nonperforming loans, OREO and foreclosed assets. We do not accrue interest income on assets classified as nonperforming.

Nonperforming loans – Loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable. Interest income is not recognized on nonperforming loans. Nonperforming loans exclude certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest, loans held for sale and loans accounted for under the fair value option.

Operating leverage – The period to period dollar or percentage change in total revenue less the dollar or percentage change in noninterest expense. A positive variance indicates that revenue growth exceeded expense growth (i.e., positive operating leverage) while a negative variance implies expense growth exceeded revenue growth (i.e., negative operating leverage).

Other real estate owned (OREO) and foreclosed assets – Assets taken in settlement of troubled loans primarily through deed-in-lieu of foreclosure or foreclosure. Foreclosed assets include real and personal property. Certain assets that have a government-guarantee which are classified as other receivables are excluded.

Risk-weighted assets – Computed by the assignment of specific risk-weights (as defined by the Board of Governors of the Federal Reserve System) to assets and off-balance sheet instruments.

Servicing rights – Intangible assets or liabilities created by an obligation to service assets for others. Typical servicing rights include the right to receive a fee for collecting and forwarding payments on loans and related taxes and insurance premiums held in escrow.

Supplementary leverage ratio – Basel III Tier 1 capital divided by Supplementary leverage exposure.

Tailoring Rules – Rules adopted by the federal banking agencies to better tailor the application of their capital, liquidity, and enhanced prudential requirements for banking organizations to the asset size and risk profile (as measured by certain regulatory metrics) of the banking organization. Effective January 1, 2020, the agencies' capital and liquidity rules classify all BHCs with $100 billion or more in total assets into one of four categories (Category I, Category II, Category III, and Category IV).

Taxable-equivalent interest income – The interest income earned on certain assets that is completely or partially exempt from federal income tax. These tax-exempt instruments typically yield lower returns than taxable investments.

Unfunded lending related commitments – Standby letters of credit, financial guarantees, commitments to extend credit and similar unfunded obligations that are not unilaterally, unconditionally, cancelable at PNC’s option.