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THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2025

(Unaudited)

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FOURTH 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 January 16, 2026. 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.

ACQUISITION OF FIRSTBANK HOLDING COMPANY

On January 5, 2026, PNC completed its acquisition of FirstBank Holding Company, including its banking subsidiary FirstBank. As of close, FirstBank had $26 billion of assets, $16 billion of loans and $23 billion of deposits. Effective January 5, 2026, FirstBank’s financial results are included in PNC’s consolidated operations and will be reported in PNC’s first quarter 2026 results.


THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Fourth 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															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
In millions, except per share data	2025			2025			2025			2025			2024			2025			2024
Interest Income
Loans	$	4,640		$	4,751		$	4,609		$	4,472		$	4,731		$	18,472		$	19,346
Investment securities	1,188			1,211			1,151			1,124			1,142			4,674			4,123
Other	552			565			510			534			621			2,161			2,915
Total interest income	6,380			6,527			6,270			6,130			6,494			25,307			26,384
Interest Expense
Deposits	1,864			1,980			1,845			1,808			2,010			7,497			8,401
Borrowed funds	785			899			870			846			961			3,400			4,484
Total interest expense	2,649			2,879			2,715			2,654			2,971			10,897			12,885
Net interest income	3,731			3,648			3,555			3,476			3,523			14,410			13,499
Noninterest Income
Asset management and brokerage	411			404			391			391			374			1,597			1,485
Capital markets and advisory	489			432			321			306			348			1,548			1,250
Card and cash management	733			737			737			692			695			2,899			2,770
Lending and deposit services	342			335			317			316			330			1,310			1,259
Residential and commercial mortgage	148			161			128			134			122			571			581
Other income
Gain on Visa shares exchange program	—			—			—			—			—			—			754
Securities gains (losses)	(7)			—			—			(2)			(2)			(9)			(500)
Other (a)	224			198			212			139			177			773			457
Total other income	217			198			212			137			175			764			711
Total noninterest income	2,340			2,267			2,106			1,976			2,044			8,689			8,056
Total revenue	6,071			5,915			5,661			5,452			5,567			23,099			21,555
Provision For Credit Losses	139			167			254			219			156			779			789
Noninterest Expense
Personnel	2,033			1,970			1,889			1,890			1,857			7,782			7,302
Occupancy	247			235			235			245			240			962			954
Equipment	412			416			394			384			473			1,606			1,527
Marketing	101			93			99			85			112			378			362
Other	810			747			766			783			824			3,106			3,379
Total noninterest expense	3,603			3,461			3,383			3,387			3,506			13,834			13,524
Income before income taxes and noncontrolling interests	2,329			2,287			2,024			1,846			1,905			8,486			7,242
Income taxes	296			465			381			347			278			1,489			1,289




Net income	2,033			1,822			1,643			1,499			1,627			6,997			5,953
Less: Net income attributable to noncontrolling interests	13			14			16			18			17			61			64
Preferred stock dividends (b)	83			71			83			71			94			308			352
Preferred stock discount accretion and redemptions	3			2			2			2			2			9			8
Net income attributable to common shareholders	$	1,934		$	1,735		$	1,542		$	1,408		$	1,514		$	6,619		$	5,529
Earnings Per Common Share
Basic	$	4.88		$	4.36		$	3.86		$	3.52		$	3.77		$	16.60		$	13.76


Diluted	$	4.88		$	4.35		$	3.85		$	3.51		$	3.77		$	16.59		$	13.74


Average Common Shares Outstanding
Basic	394			396			397			398			399			396			399
Diluted	394			396			397			398			399			396			400
Efficiency	59 %		%	59 %		%	60 %		%	62 %		%	63 %		%	60 %		%	63 %		%
Noninterest income to total revenue	39 %		%	38 %		%	37 %		%	36 %		%	37 %		%	38 %		%	37 %		%
Effective tax rate (c)	12.7 %		%	20.3 %		%	18.8 %		%	18.8 %		%	14.6 %		%	17.5 %		%	17.8 %		%

(a)Includes Visa derivative fair value adjustments of $(41) million, $(35) million, $2 million, $(40) million and $(23) million for the quarters ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 and $(114) million and $(274) million for the twelve months ended December 31, 2025 and December 31, 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)


	December 31		September 30		June 30		March 31		December 31
In millions, except par value	2025		2025		2025		2025		2024
Assets
Cash and due from banks	$	6,777	$	5,553	$	5,939	$	6,102	$	6,904
Interest-earning deposits with banks (a)	32,936		33,318		24,455		32,298		39,347
Loans held for sale (b)	1,939		1,104		1,837		1,236		850
Investment securities – available-for-sale	68,135		68,297		67,136		63,318		62,039
Investment securities – held-to-maturity	70,105		73,226		75,212		74,457		77,693
Loans (b)	331,481		326,616		326,340		318,850		316,467
Allowance for loan and lease losses	(4,410)		(4,478)		(4,523)		(4,544)		(4,486)
Net loans	327,071		322,138		321,817		314,306		311,981
Equity investments	10,790		9,972		9,755		9,448		9,600
Mortgage servicing rights	3,659		3,627		3,467		3,564		3,711
Goodwill	10,959		10,962		10,932		10,932		10,932
Other (b)	41,201		40,570		38,557		39,061		36,981
Total assets	$	573,572	$	568,767	$	559,107	$	554,722	$	560,038
Liabilities
Deposits
Noninterest-bearing	$	91,748	$	91,207	$	93,253	$	92,369	$	92,641
Interest-bearing (b)	349,118		341,542		333,443		330,546		334,097
Total deposits	440,866		432,749		426,696		422,915		426,738
Borrowed funds
Federal Home Loan Bank advances	13,000		16,100		18,000		18,000		22,000
Senior debt	38,642		38,695		35,750		34,987		32,497
Subordinated debt	3,016		3,512		3,490		4,163		4,104
Other (b)	2,443		4,037		3,184		3,572		3,072
Total borrowed funds	57,101		62,344		60,424		60,722		61,673
Allowance for unfunded lending related commitments	818		775		759		674		719
Accrued expenses and other liabilities (b)	14,151		13,861		13,573		13,960		16,439
Total liabilities	512,936		509,729		501,452		498,271		505,569
Equity
Preferred stock (c)	—		—		—		—		—
Common stock - $5 par value
Authorized 800,000,000 shares, issued 543,497,966; 543,412,079; 543,412,101; 543,310,646 and 543,310,646 shares	2,717		2,717		2,717		2,717		2,717
Capital surplus	18,922		18,859		18,809		18,731		18,710
Retained earnings	63,266		62,008		60,951		60,051		59,282
Accumulated other comprehensive income (loss)	(3,408)		(4,077)		(4,682)		(5,237)		(6,565)
Common stock held in treasury at cost: 153,084,091; 151,030,533; 149,426,326; 147,519,772 and 147,373,633 shares	(20,912)		(20,517)		(20,188)		(19,857)		(19,719)
Total shareholders’ equity	60,585		58,990		57,607		56,405		54,425
Noncontrolling interests	51		48		48		46		44
Total equity	60,636		59,038		57,655		56,451		54,469
Total liabilities and equity	$	573,572	$	568,767	$	559,107	$	554,722	$	560,038

(a)Amounts include balances held with the Federal Reserve Bank of $32.0 billion, $32.7 billion, $23.9 billion, $31.9 billion and $39.0 billion as of December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, respectively.

(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our 2025 Form 10-Qs included, and our 2025 Form 10-K 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										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
In millions	2025		2025		2025		2025		2024		2025		2024
Assets
Interest-earning assets:
Investment securities
Securities available-for-sale
Residential mortgage-backed	$	33,564	$	34,752	$	34,567	$	33,793	$	32,865	$	34,170	$	31,535
U.S. Treasury and government agencies	28,119		26,799		25,372		24,382		23,086		26,180		16,010
Other	8,202		8,293		7,818		7,505		7,656		7,957		7,291
Total securities available-for-sale	69,885		69,844		67,757		65,680		63,607		68,307		54,836
Securities held-to-maturity
Residential mortgage-backed	42,925		42,667		40,440		40,045		40,833		41,530		41,846
U.S. Treasury and government agencies	23,426		25,540		26,900		28,931		31,049		26,182		34,360
Other	5,983		6,384		6,838		7,525		8,374		6,678		9,700
Total securities held-to-maturity	72,334		74,591		74,178		76,501		80,256		74,390		85,906
Total investment securities	142,219		144,435		141,935		142,181		143,863		142,697		140,742
Loans
Commercial and industrial	191,735		189,033		184,725		177,333		177,433		185,786		177,210
Commercial real estate	30,173		30,850		31,838		33,067		34,476		31,473		35,241
Equipment lease financing	6,991		6,870		6,801		6,692		6,737		6,841		6,557
Consumer	54,884		54,238		53,851		53,421		53,735		54,103		53,678
Residential real estate	44,146		44,941		45,539		46,111		46,677		45,178		47,108
Total loans	327,929		325,932		322,754		316,624		319,058		323,381		319,794
Interest-earning deposits with banks (c)	32,009		35,003		31,570		34,614		37,929		33,360		43,145
Other interest-earning assets	18,618		12,759		11,348		10,147		10,337		13,245		9,135
Total interest-earning assets	520,775		518,129		507,607		503,566		511,187		512,683		512,816
Noninterest-earning assets	55,071		53,404		54,079		52,811		52,911		53,785		52,067
Total assets	$	575,846	$	571,533	$	561,686	$	556,377	$	564,098	$	566,468	$	564,883
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market	$	78,742	$	75,890	$	70,909	$	73,063	$	73,219	$	74,670	$	70,331
Demand	132,591		128,962		126,222		125,046		124,294		128,230		122,095
Savings	97,188		96,627		97,028		97,409		95,957		97,061		96,708
Time deposits	36,180		37,593		35,674		32,763		35,656		35,568		35,301
Total interest-bearing deposits	344,701		339,072		329,833		328,281		329,126		335,529		324,435
Borrowed funds
Federal Home Loan Bank advances	14,671		17,615		18,319		19,703		24,014		17,563		32,345
Senior debt	38,623		38,012		36,142		34,933		32,572		36,941		30,751
Subordinated debt	3,299		3,616		3,686		4,320		4,324		3,727		4,574
Other	3,722		7,070		7,146		5,549		6,259		5,870		6,391
Total borrowed funds	60,315		66,313		65,293		64,505		67,169		64,101		74,061
Total interest-bearing liabilities	405,016		405,385		395,126		392,786		396,295		399,630		398,496
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits	94,834		92,756		93,142		92,367		96,136		93,283		96,772
Accrued expenses and other liabilities	16,646		15,624		16,942		16,214		17,068		16,451		17,004
Equity	59,350		57,768		56,476		55,010		54,599		57,104		52,611
Total liabilities and equity	$	575,846	$	571,533	$	561,686	$	556,377	$	564,098	$	566,468	$	564,883

(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 $31.3 billion, $34.2 billion, $30.8 billion, $34.2 billion and $37.5 billion for the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 and $32.6 billion and $42.7 billion for the twelve months ended December 31, 2025 and December 31, 2024, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 4


Table 4: Details of Net Interest Margin (Unaudited)
	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
	2025		2025		2025		2025		2024		2025		2024
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available-for-sale
Residential mortgage-backed	3.80 %	%	3.82 %	%	3.76 %	%	3.68 %	%	3.60 %	%	3.77 %	%	3.30 %	%
U.S. Treasury and government agencies	4.29 %	%	4.58 %	%	4.55 %	%	4.50 %	%	4.75 %	%	4.49 %	%	4.62 %	%
Other	3.97 %	%	3.91 %	%	3.69 %	%	3.65 %	%	3.79 %	%	3.81 %	%	3.68 %	%
Total securities available-for-sale	4.02 %	%	4.12 %	%	4.05 %	%	3.98 %	%	4.04 %	%	4.05 %	%	3.73 %	%
Securities held-to-maturity
Residential mortgage-backed	3.13 %	%	3.07 %	%	2.90 %	%	2.84 %	%	2.83 %	%	2.99 %	%	2.80 %	%
U.S. Treasury and government agencies	1.50 %	%	1.51 %	%	1.53 %	%	1.49 %	%	1.46 %	%	1.51 %	%	1.35 %	%
Other	4.28 %	%	4.35 %	%	4.34 %	%	4.39 %	%	4.60 %	%	4.34 %	%	4.74 %	%
Total securities held-to-maturity	2.70 %	%	2.65 %	%	2.54 %	%	2.48 %	%	2.48 %	%	2.59 %	%	2.44 %	%
Total investment securities	3.35 %	%	3.36 %	%	3.26 %	%	3.17 %	%	3.17 %	%	3.29 %	%	2.94 %	%
Loans
Commercial and industrial	5.56 %	%	5.81 %	%	5.74 %	%	5.74 %	%	5.94 %	%	5.79 %	%	6.26 %	%
Commercial real estate	5.92 %	%	6.06 %	%	6.01 %	%	5.94 %	%	6.24 %	%	6.06 %	%	6.67 %	%
Equipment lease financing	5.18 %	%	5.14 %	%	4.99 %	%	5.05 %	%	5.43 %	%	5.09 %	%	5.43 %	%
Consumer	7.09 %	%	7.18 %	%	7.11 %	%	7.14 %	%	7.29 %	%	7.13 %	%	7.29 %	%
Residential real estate	3.74 %	%	3.75 %	%	3.76 %	%	3.78 %	%	3.75 %	%	3.76 %	%	3.71 %	%
Total loans	5.60 %	%	5.76 %	%	5.70 %	%	5.70 %	%	5.87 %	%	5.74 %	%	6.08 %	%
Interest-earning deposits with banks	3.92 %	%	4.34 %	%	4.38 %	%	4.42 %	%	4.86 %	%	4.31 %	%	5.34 %	%
Other interest-earning assets	4.95 %	%	5.51 %	%	5.66 %	%	6.02 %	%	6.17 %	%	5.45 %	%	6.70 %	%
Total yield on interest-earning assets	4.86 %	%	4.99 %	%	4.93 %	%	4.90 %	%	5.04 %	%	4.96 %	%	5.17 %	%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market	2.77 %	%	3.07 %	%	3.01 %	%	2.99 %	%	3.18 %	%	2.96 %	%	3.40 %	%
Demand	1.78 %	%	1.96 %	%	1.89 %	%	1.87 %	%	2.05 %	%	1.87 %	%	2.22 %	%
Savings	1.62 %	%	1.68 %	%	1.63 %	%	1.64 %	%	1.70 %	%	1.64 %	%	1.81 %	%
Time deposits	3.53 %	%	3.67 %	%	3.64 %	%	3.69 %	%	4.15 %	%	3.64 %	%	4.41 %	%
Total interest-bearing deposits	2.14 %	%	2.32 %	%	2.24 %	%	2.23 %	%	2.43 %	%	2.23 %	%	2.59 %	%
Borrowed funds
Federal Home Loan Bank advances	4.41 %	%	4.73 %	%	4.74 %	%	4.73 %	%	5.06 %	%	4.73 %	%	5.63 %	%
Senior debt	5.55 %	%	5.85 %	%	5.77 %	%	5.64 %	%	6.12 %	%	5.70 %	%	6.58 %	%
Subordinated debt	5.52 %	%	5.81 %	%	5.69 %	%	5.54 %	%	6.10 %	%	5.66 %	%	6.56 %	%
Other	4.02 %	%	4.19 %	%	4.24 %	%	4.38 %	%	4.70 %	%	4.28 %	%	5.34 %	%
Total borrowed funds	5.18 %	%	5.38 %	%	5.31 %	%	5.25 %	%	5.61 %	%	5.30 %	%	6.05 %	%
Total rate on interest-bearing liabilities	2.59 %	%	2.81 %	%	2.74 %	%	2.72 %	%	2.95 %	%	2.73 %	%	3.23 %	%
Interest rate spread	2.27 %	%	2.18 %	%	2.19 %	%	2.18 %	%	2.09 %	%	2.23 %	%	1.94 %	%
Benefit from use of noninterest-bearing sources (b)	0.57 %	%	0.61 %	%	0.61 %	%	0.60 %	%	0.66 %	%	0.60 %	%	0.72 %	%
Net interest margin	2.84 %	%	2.79 %	%	2.80 %	%	2.78 %	%	2.75 %	%	2.83 %	%	2.66 %	%

(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 December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 were $31 million, $30 million, $28 million, $28 million and $30 million, respectively. The taxable-equivalent adjustments to net interest income for the twelve months ended December 31, 2025 and December 31, 2024 were $117 million and $131 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)


	December 31		September 30		June 30		March 31		December 31
In millions	2025		2025		2025		2025		2024
Commercial
Commercial and industrial
Financial services	$	36,993	$	33,347	$	31,815	$	29,335	$	27,737
Manufacturing	29,769		30,256		31,135		28,934		27,700
Service providers	24,159		23,830		23,071		22,943		21,881
Wholesale trade	19,263		19,350		19,460		19,176		18,399
Real estate related (a)	14,919		15,059		14,873		15,041		14,910
Technology, media and telecommunications	12,029		11,368		11,079		9,998		9,767
Retail trade	12,020		12,358		12,923		11,941		11,611
Health care	8,845		9,571		9,590		9,903		9,694
Transportation and warehousing	8,610		7,492		7,164		7,147		7,320
Other industries	29,116		27,565		27,720		26,119		26,771
Total commercial and industrial	195,723		190,196		188,830		180,537		175,790
Commercial real estate	29,565		30,281		31,250		32,307		33,619
Equipment lease financing	7,175		6,898		6,928		6,732		6,755
Total commercial	232,463		227,375		227,008		219,576		216,164
Consumer
Residential real estate	43,760		44,637		45,257		45,890		46,415
Home equity	25,941		25,942		25,928		25,846		25,991
Automobile	16,591		16,272		15,892		15,324		15,355
Credit card	7,014		6,636		6,570		6,550		6,879
Education	1,468		1,521		1,547		1,597		1,636
Other consumer	4,244		4,233		4,138		4,067		4,027
Total consumer	99,018		99,241		99,332		99,274		100,303
Total loans	$	331,481	$	326,616	$	326,340	$	318,850	$	316,467

(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															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions	2025			2025			2025			2025			2024			2025			2024
Allowance for loan and lease losses
Beginning balance	$	4,478		$	4,523		$	4,544		$	4,486		$	4,589		$	4,486		$	4,791
Gross charge-offs:
Commercial and industrial	(78)			(92)			(89)			(103)			(78)			(362)			(328)
Commercial real estate	(15)			(19)			(64)			(18)			(87)			(116)			(358)
Equipment lease financing	(7)			(5)			(10)			(10)			(9)			(32)			(34)
Residential real estate	—			(6)			—			(2)			(1)			(8)			(3)
Home equity	(7)			(10)			(9)			(9)			(9)			(35)			(36)
Automobile	(33)			(32)			(30)			(35)			(33)			(130)			(131)
Credit card	(73)			(76)			(81)			(90)			(87)			(320)			(355)
Education	(4)			(3)			(4)			(5)			(6)			(16)			(19)
Other consumer	(39)			(41)			(37)			(40)			(44)			(157)			(171)
Total gross charge-offs	(256)			(284)			(324)			(312)			(354)			(1,176)			(1,435)
Recoveries:
Commercial and industrial	28			32			48			35			39			143			119
Commercial real estate	3			6			8			5			2			22			13
Equipment lease financing	5			6			5			7			5			23			17
Residential real estate	3			3			3			2			2			11			10
Home equity	8			7			12			8			11			35			42
Automobile	22			25			24			23			23			94			97
Credit card	15			17			15			15			13			62			55
Education	2			—			2			2			1			6			6
Other consumer	8			9			9			10			8			36			35
Total recoveries	94			105			126			107			104			432			394
Net (charge-offs) / recoveries:
Commercial and industrial	(50)			(60)			(41)			(68)			(39)			(219)			(209)
Commercial real estate	(12)			(13)			(56)			(13)			(85)			(94)			(345)
Equipment lease financing	(2)			1			(5)			(3)			(4)			(9)			(17)
Residential real estate	3			(3)			3			—			1			3			7
Home equity	1			(3)			3			(1)			2			—			6
Automobile	(11)			(7)			(6)			(12)			(10)			(36)			(34)
Credit card	(58)			(59)			(66)			(75)			(74)			(258)			(300)
Education	(2)			(3)			(2)			(3)			(5)			(10)			(13)
Other consumer	(31)			(32)			(28)			(30)			(36)			(121)			(136)
Total net (charge-offs)	(162)			(179)			(198)			(205)			(250)			(744)			(1,041)
Provision for credit losses (a)	93			136			171			260			155			660			741
Other	1			(2)			6			3			(8)			8			(5)
Ending balance	$	4,410		$	4,478		$	4,523		$	4,544		$	4,486		$	4,410		$	4,486
Supplemental Information
Net charge-offs
Commercial net charge-offs	$	(64)		$	(72)		$	(102)		$	(84)		$	(128)		$	(322)		$	(571)
Consumer net charge-offs	(98)			(107)			(96)			(121)			(122)			(422)			(470)
Total net charge-offs	$	(162)		$	(179)		$	(198)		$	(205)		$	(250)		$	(744)		$	(1,041)
Net charge-offs to average loans (b)	0.20 %		%	0.22 %		%	0.25 %		%	0.26 %		%	0.31 %		%	0.23 %		%	0.33 %		%
Commercial	0.11 %		%	0.13 %		%	0.18 %		%	0.16 %		%	0.23 %		%	0.14 %		%	0.26 %		%
Consumer	0.39 %		%	0.43 %		%	0.39 %		%	0.49 %		%	0.48 %		%	0.43 %		%	0.47 %		%

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

(b)Three month period percentages are annualized.


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										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
In millions	2025		2025		2025		2025		2024		2025		2024
Provision for credit losses
Loans and leases	$	93	$	136	$	171	$	260	$	155	$	660	$	741
Unfunded lending related commitments	43		16		84		(46)		(5)		97		56
Investment securities	—		(1)		(1)		3		—		1		(10)
Other financial assets	3		16		—		2		6		21		2
Total provision for credit losses	$	139	$	167	$	254	$	219	$	156	$	779	$	789

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


	December 31, 2025						September 30, 2025						December 31, 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	$	1,947	$	195,723	0.99 %	%	$	1,951	$	190,196	1.03 %	%	$	1,605	$	175,790	0.91 %	%
Commercial real estate	1,057		29,565		3.58 %	%	1,142		30,281		3.77 %	%	1,483		33,619		4.41 %	%
Equipment lease financing	85		7,175		1.18 %	%	85		6,898		1.23 %	%	60		6,755		0.89 %	%
Total commercial	3,089		232,463		1.33 %	%	3,178		227,375		1.40 %	%	3,148		216,164		1.46 %	%
Consumer
Residential real estate	44		43,760		0.10 %	%	50		44,637		0.11 %	%	37		46,415		0.08 %	%
Home equity	271		25,941		1.04 %	%	285		25,942		1.10 %	%	266		25,991		1.02 %	%
Automobile	158		16,591		0.95 %	%	153		16,272		0.94 %	%	160		15,355		1.04 %	%
Credit card	632		7,014		9.01 %	%	596		6,636		8.98 %	%	664		6,879		9.65 %	%
Education	42		1,468		2.86 %	%	43		1,521		2.83 %	%	48		1,636		2.93 %	%
Other consumer	174		4,244		4.10 %	%	173		4,233		4.09 %	%	163		4,027		4.05 %	%
Total consumer	1,321		99,018		1.33 %	%	1,300		99,241		1.31 %	%	1,338		100,303		1.33 %	%
Total	4,410		$	331,481	1.33 %	%	4,478		$	326,616	1.37 %	%	4,486		$	316,467	1.42 %	%
Allowance for unfunded lending related commitments	818						775						719
Allowance for credit losses	$	5,228					$	5,253					$	5,205

Supplemental Information
Allowance for credit losses to total loans					1.58 %	%					1.61 %	%					1.64 %	%
Commercial					1.62 %	%					1.68 %	%					1.72 %	%
Consumer					1.47 %	%					1.45 %	%					1.47 %	%

(a) Excludes allowances for investment securities and other financial assets, which together totaled $99 million, $101 million and $114 million at December 31, 2025, September 30, 2025 and December 31, 2024, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 8

Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type


	December 31			September 30			June 30			March 31			December 31
Dollars in millions	2025			2025			2025			2025			2024
Nonperforming loans
Commercial
Commercial and industrial
Retail trade	$	194		$	36		$	63		$	121		$	18
Wholesale trade	160			95			17			15			43
Service providers	111			115			124			140			187
Manufacturing	97			74			71			96			30
Health care	47			45			53			76			73
Transportation and warehousing	43			47			47			44			47
Technology, media and telecommunications	27			83			31			52			73
Real estate related (a)	23			17			21			22			24
Other industries	44			71			35			30			33
Total commercial and industrial	746			583			462			596			528
Commercial real estate	574			663			753			851			919
Equipment lease financing	38			36			36			20			15
Total commercial	1,358			1,282			1,251			1,467			1,462
Consumer (b)
Residential real estate	320			326			325			287			278
Home equity	439			431			436			437			482
Automobile	83			82			80			83			86
Credit card	13			13			13			15			15
Other consumer	5			3			3			3			3
Total consumer	860			855			857			825			864
Total nonperforming loans (c)	2,218			2,137			2,108			2,292			2,326
OREO, foreclosed and other assets (d)	143			162			33			32			31
Total nonperforming assets	$	2,361		$	2,299		$	2,141		$	2,324		$	2,357
Nonperforming loans to total loans	0.67 %		%	0.65 %		%	0.65 %		%	0.72 %		%	0.73 %		%
Nonperforming assets to total loans, OREO, foreclosed and other assets (d)	0.71 %		%	0.70 %		%	0.66 %		%	0.73 %		%	0.74 %		%
Nonperforming assets to total assets	0.41 %		%	0.40 %		%	0.38 %		%	0.42 %		%	0.42 %		%
Allowance for loan and lease losses to nonperforming loans	199 %		%	210 %		%	215 %		%	198 %		%	193 %		%

(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 include nonaccrual servicing advances primarily to single asset/single borrower trusts with commercial real estate as collateral totaling $105 million and $127 million at December 31, 2025 and September 30, 2025, respectively.

Table 10: Change in Nonperforming Assets


	Three months ended
	December 31		September 30		June 30		March 31		December 31
Dollars in millions	2025		2025		2025		2025		2024
Beginning balance	$	2,299	$	2,141	$	2,324	$	2,357	$	2,609

New nonperforming assets	569		653		367		477		397
Charge-offs and valuation adjustments	(91)		(103)		(149)		(135)		(174)
Principal activity, including paydowns and payoffs	(248)		(299)		(312)		(156)		(401)
Asset sales and transfers to loans held for sale	(33)		(13)		(5)		(77)		(15)
Returned to performing status	(135)		(80)		(84)		(142)		(59)
Ending balance	$	2,361	$	2,299	$	2,141	$	2,324	$	2,357


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 9

Accruing Loans Past Due (Unaudited)

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



	December 31			September 30			June 30			March 31			December 31
Dollars in millions	2025			2025			2025			2025			2024
Commercial
Commercial and industrial	$	137		$	147		$	118		$	216		$	159
Commercial real estate	14			9			43			6			25
Equipment lease financing	45			14			15			41			41
Total commercial	196			170			176			263			225
Consumer
Residential real estate
Non government insured	170			166			169			208			161
Government insured	73			79			78			79			73
Home equity	70			73			62			71			71
Automobile	74			70			74			73			83
Credit card	45			45			42			45			49
Education
Non government insured	5			6			4			5			5
Government insured	17			18			18			20			20
Other consumer	10			8			12			10			10
Total consumer	464			465			459			511			472
Total	$	660		$	635		$	635		$	774		$	697
Supplemental Information
Total accruing loans past due 30-59 days to total loans	0.20 %		%	0.19 %		%	0.19 %		%	0.24 %		%	0.22 %		%
Commercial	0.08 %		%	0.07 %		%	0.08 %		%	0.12 %		%	0.10 %		%
Consumer	0.47 %		%	0.47 %		%	0.46 %		%	0.51 %		%	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)


	December 31			September 30			June 30			March 31			December 31
Dollars in millions	2025			2025			2025			2025			2024
Commercial
Commercial and industrial	$	94		$	60		$	91		$	34		$	43
Commercial real estate	98			—			6			—			18
Equipment lease financing	9			7			10			11			12
Total commercial	201			67			107			45			73
Consumer
Residential real estate
Non government insured	57			48			52			93			58
Government insured	44			39			39			39			48
Home equity	30			27			28			28			26
Automobile	18			17			19			19			22
Credit card	32			31			32			33			38
Education
Non government insured	2			3			3			3			2
Government insured	12			12			11			11			13
Other consumer	7			7			6			7			8
Total consumer	202			184			190			233			215
Total	$	403		$	251		$	297		$	278		$	288
Supplemental Information
Total accruing loans past due 60-89 days to total loans	0.12 %		%	0.08 %		%	0.09 %		%	0.09 %		%	0.09 %		%
Commercial	0.09 %		%	0.03 %		%	0.05 %		%	0.02 %		%	0.03 %		%
Consumer	0.20 %		%	0.19 %		%	0.19 %		%	0.23 %		%	0.21 %		%

(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)


	December 31			September 30			June 30			March 31			December 31
Dollars in millions	2025			2025			2025			2025			2024
Commercial
Commercial and industrial	$	57		$	71		$	79		$	75		$	72
Commercial real estate	—			1			—			—			—
Total commercial	57			72			79			75			72
Consumer
Residential real estate
Non government insured	46			38			53			53			56
Government insured	163			126			129			130			132
Automobile	5			4			5			7			9
Credit card	65			63			64			71			81
Education
Non government insured	2			1			2			2			2
Government insured	35			35			32			34			37
Other consumer	7			8			7			7			8
Total consumer	323			275			292			304			325
Total	$	380		$	347		$	371		$	379		$	397
Supplemental Information
Total accruing loans past due 90 days or more to total loans	0.11 %		%	0.11 %		%	0.11 %		%	0.12 %		%	0.13 %		%
Commercial	0.02 %		%	0.03 %		%	0.03 %		%	0.03 %		%	0.03 %		%
Consumer	0.33 %		%	0.28 %		%	0.29 %		%	0.31 %		%	0.32 %		%
Total accruing loans past due	$	1,443		$	1,233		$	1,303		$	1,431		$	1,382
Commercial	$	454		$	309		$	362		$	383		$	370
Consumer	$	989		$	924		$	941		$	1,048		$	1,012
Total accruing loans past due to total loans	0.44 %		%	0.38 %		%	0.40 %		%	0.45 %		%	0.44 %		%
Commercial	0.20 %		%	0.14 %		%	0.16 %		%	0.17 %		%	0.17 %		%
Consumer	1.00 %		%	0.93 %		%	0.95 %		%	1.06 %		%	1.01 %		%

(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.

•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


	December 31	September 30	June 30	March 31	December 31
	2025	2025	2025	2025	2024
Full-time employees
Retail Banking	26,168	26,126	26,291	27,108	27,513
Other full-time employees	27,691	27,397	26,884	26,360	26,173
Total full-time employees	53,859	53,523	53,175	53,468	53,686
Part-time employees
Retail Banking	1,427	1,367	1,465	1,460	1,451
Other part-time employees	47	48	407	48	47
Total part-time employees	1,474	1,415	1,872	1,508	1,498
Total	55,333	54,938	55,047	54,976	55,184


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 13

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


	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
In millions	2025		2025		2025		2025		2024		2025		2024
Net Income
Retail Banking (b)	$	1,241	$	1,324	$	1,359	$	1,121	$	1,083	$	5,045	$	5,063
Corporate & Institutional Banking	1,514		1,459		1,229		1,244		1,365		5,446		4,729
Asset Management Group (b)	121		117		129		105		95		472		376
Other (b)	(856)		(1,092)		(1,090)		(989)		(933)		(4,027)		(4,279)
Net income excluding noncontrolling interests	$	2,020	$	1,808	$	1,627	$	1,481	$	1,610	$	6,936	$	5,889

Revenue
Retail Banking (b)	$	3,759	$	3,806	$	3,756	$	3,542	$	3,542	$	14,863	$	14,547
Corporate & Institutional Banking	3,066		2,909		2,720		2,630		2,755		11,325		10,339
Asset Management Group (b)	440		430		423		417		403		1,710		1,562
Other (b)	(1,194)		(1,230)		(1,238)		(1,137)		(1,133)		(4,799)		(4,893)
Total revenue	$	6,071	$	5,915	$	5,661	$	5,452	$	5,567	$	23,099	$	21,555

(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																	Year ended
	December 31			September 30				June 30				March 31			December 31			December 31			December 31
Dollars in millions	2025			2025				2025				2025			2024			2025			2024
Income Statement
Net interest income (b)(c)	$	2,989		$	3,016			$	2,974			$	2,836		$	2,834		$	11,815		$	10,965
Noninterest income	770			790				782				706			708			3,048			3,582
Total revenue (b)(c)	3,759			3,806				3,756				3,542			3,542			14,863			14,547
Provision for credit losses	155			126				83				168			106			532			362
Noninterest expense (d)
Personnel	535			529				539				538			536			2,141			2,149
Segment allocations (e)	1,020			979				978				967			977			3,944			3,774
Depreciation and amortization	95			97				87				86			72			365			300
Other (f)	327			336				286				311			425			1,260			1,307
Total noninterest expense	1,977			1,941				1,890				1,902			2,010			7,710			7,530
Pre-tax earnings (b)(c)	1,627			1,739				1,783				1,472			1,426			6,621			6,655
Income taxes (b)(c)	379			406				414				342			332			1,541			1,553
Noncontrolling interests	7			9				10				9			11			35			39
Earnings (b)(c)	$	1,241		$	1,324		752	$	1,359		322	$	1,121		$	1,083		$	5,045		$	5,063
Average Balance Sheet
Loans held for sale	$	699		$	785			$	874			$	860		$	873		$	804		$	746
Loans (b)
Consumer
Residential real estate	$	33,336		$	34,043			$	34,647			$	35,197		$	35,658		$	34,299		$	36,099
Home equity	24,559			24,551				24,551				24,549			24,604			24,551			24,587
Automobile	16,403			16,035				15,738				15,240			15,213			15,858			14,960
Credit card	6,754			6,561				6,483				6,568			6,779			6,592			6,838
Education	1,505			1,545				1,586				1,637			1,674			1,568			1,787
Other consumer	1,815			1,789				1,756				1,754			1,776			1,780			1,763
Total consumer	84,372			84,524				84,761				84,945			85,704			84,648			86,034
Commercial	12,603			12,353				12,725				12,841			12,927			12,629			12,781
Total loans	$	96,975		$	96,877			$	97,486			$	97,786		$	98,631		$	97,277		$	98,815
Total assets (b)	$	113,714		$	114,146			$	114,061			$	115,176		$	117,175		$	114,263		$	116,842
Deposits (b)
Noninterest-bearing	$	52,125		$	52,604			$	52,353			$	51,307		$	52,503		$	52,101		$	53,143
Interest-bearing (c)	191,941			190,652				191,190				189,563			187,011			190,841			186,740
Total deposits	$	244,066		$	243,256			$	243,543			$	240,870		$	239,514		$	242,942		$	239,883
Performance Ratios (b)(c)
Return on average assets	4.33 %		%	4.60 %		%		4.78 %		%		3.95 %		%	3.67 %		%	4.42 %		%	4.33 %		%
Noninterest income to total revenue	20 %		%	21 %		%		21 %		%		20 %		%	20 %		%	21 %		%	25 %		%
Efficiency	53 %		%	51 %		%		50 %		%		54 %		%	57 %		%	52 %		%	52 %		%

(continued on following page)


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 15

Retail Banking (Unaudited) (Continued)


	Three months ended															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions, except as noted	2025			2025			2025			2025			2024			2025			2024
Supplemental Noninterest Income Information
Asset management and brokerage	$	155		$	154		$	150		$	152		$	135		$	611		$	552
Card and cash management	$	328		$	334		$	328		$	296		$	308		$	1,286		$	1,263
Lending and deposit services	$	199		$	199		$	190		$	184		$	191		$	772		$	744
Residential and commercial mortgage	$	78		$	89		$	61		$	65		$	46		$	293		$	342
Other income - Gain on Visa shares exchange program	$	—		$	—		$	—		$	—		$	—		$	—		$	754
Residential Mortgage Information
Residential mortgage servicing statistics (g)
Serviced portfolio balance (in billions) (h)	$	198		$	199		$	189		$	193		$	197
MSR asset value (h)	$	2,638		$	2,622		$	2,457		$	2,523		$	2,626
Servicing income:
Servicing fees, net (i)	$	63		$	60		$	60		$	71		$	69		$	254		$	287
Mortgage servicing rights valuation net of economic hedge	$	(5)		$	18		$	2		$	(4)		$	(28)		$	11		$	5
Residential mortgage loan statistics
Loan origination volume (in billions)	$	1.6		$	1.5		$	1.7		$	1.0		$	1.6		$	5.8		$	6.4
Loan sale margin percentage	1.88 %		%	1.67 %		%	0.91 %		%	0.58 %		%	1.26 %		%	1.32 %		%	1.76 %		%
Other Information


Credit-related statistics
Nonperforming assets (h)	$	840		$	827		$	812		$	804		$	848
Net charge-offs - loans and leases	$	116		$	126		$	120		$	144		$	152		$	506		$	570
Other statistics
Branches (h)(j)	2,224			2,219			2,218			2,217			2,234
Brokerage account client assets (in billions) (h)(k)	$	91		$	89		$	87		$	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															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions	2025			2025			2025			2025			2024			2025			2024
Income Statement
Net interest income	$	1,856		$	1,777		$	1,698		$	1,652		$	1,688		$	6,983		$	6,412
Noninterest income	1,210			1,132			1,022			978			1,067			4,342			3,927
Total revenue	3,066			2,909			2,720			2,630			2,755			11,325			10,339
Provision for credit losses	14			44			184			49			44			291			453
Noninterest expense
Personnel	472			403			370			376			401			1,621			1,508
Segment allocations (b)	422			387			381			383			386			1,573			1,497
Depreciation and amortization	55			46			49			51			51			201			202
Other (c)	158			140			150			146			143			594			557
Total noninterest expense	1,107			976			950			956			981			3,989			3,764
Pre-tax earnings	1,945			1,889			1,586			1,625			1,730			7,045			6,122
Income taxes	425			425			352			377			361			1,579			1,374
Noncontrolling interests	6			5			5			4			4			20			19
Earnings	$	1,514		$	1,459		$	1,229		$	1,244		$	1,365		$	5,446		$	4,729
Average Balance Sheet
Loans held for sale	$	632		$	691		$	775		$	255		$	832		$	590		$	384
Loans
Commercial
Commercial and industrial	$	178,204		$	175,615		$	170,829		$	163,379		$	163,410		$	172,058		$	163,220
Commercial real estate	29,374			30,032			30,962			32,151			33,525			30,620			34,208
Equipment lease financing	6,991			6,869			6,801			6,692			6,737			6,839			6,556
Total commercial	214,569			212,516			208,592			202,222			203,672			209,517			203,984
Consumer	2			2			4			3			3			3			3
Total loans	$	214,571		$	212,518		$	208,596		$	202,225		$	203,675		$	209,520		$	203,987
Total assets	$	241,169		$	238,338		$	234,391		$	227,069		$	227,845		$	235,289		$	228,349
Deposits
Noninterest-bearing	$	41,308		$	38,732		$	39,196		$	39,501		$	42,119		$	39,686		$	42,081
Interest-bearing	122,457			116,460			107,275			108,503			109,205			113,720			102,931
Total deposits	$	163,765		$	155,192		$	146,471		$	148,004		$	151,324		$	153,406		$	145,012
Performance Ratios
Return on average assets	2.49 %		%	2.43 %		%	2.10 %		%	2.22 %		%	2.38 %		%	2.31 %		%	2.07 %		%
Noninterest income to total revenue	39 %		%	39 %		%	38 %		%	37 %		%	39 %		%	38 %		%	38 %		%
Efficiency	36 %		%	34 %		%	35 %		%	36 %		%	36 %		%	35 %		%	36 %		%

(continued on following page)


THE PNC FINANCIAL SERVICES GROUP, INC.						Page 17

Corporate & Institutional Banking (Unaudited) (Continued)


	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
Dollars in millions	2025		2025		2025		2025		2024		2025		2024
Other Information
Consolidated revenue from:
Treasury Management (d)	$	1,197	$	1,120	$	1,077	$	1,049	$	1,058	$	4,443	$	3,922
Commercial mortgage banking activities:
Commercial mortgage loans held for sale (e)	$	35	$	22	$	24	$	26	$	38	$	107	$	81
Commercial mortgage loan servicing income (f)	115		121		116		94		112		446		353
Commercial mortgage servicing rights valuation, net of economic hedge	37		47		36		39		39		159		147
Total	$	187	$	190	$	176	$	159	$	189	$	712	$	581
Commercial mortgage servicing statistics
Serviced portfolio balance (in billions) (g)(h)	$	294	$	293	$	295	$	294	$	290
MSR asset value (g)	$	1,021	$	1,006	$	1,010	$	1,041	$	1,085
Average loans by C&IB business
Corporate Banking	$	130,050	$	126,994	$	123,069	$	117,659	$	116,364	$	124,484	$	116,494
Real Estate	40,836		41,863		42,533		43,283		45,472		42,121		46,061
Business Credit	32,552		32,412		31,544		30,044		30,343		31,647		29,690
Commercial Banking	7,007		7,158		7,281		7,343		7,290		7,196		7,450
Other	4,126		4,091		4,169		3,896		4,206		4,072		4,292
Total average loans	$	214,571	$	212,518	$	208,596	$	202,225	$	203,675	$	209,520	$	203,987
Credit-related statistics
Nonperforming assets (g)	$	1,375	$	1,323	$	1,160	$	1,372	$	1,368
Net charge-offs - loans and leases	$	49	$	53	$	83	$	64	$	100	$	249	$	484

(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															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions, except as noted	2025			2025			2025			2025			2024			2025			2024
Income Statement
Net interest income (b)	$	180		$	176		$	179		$	174		$	161		$	709		$	613
Noninterest income	260			254			244			243			242			1,001			949
Total revenue (b)	440			430			423			417			403			1,710			1,562
Provision for (recapture of) credit losses	(11)			4			(13)			1			2			(19)			(3)
Noninterest expense
Personnel	120			115			115			121			116			471			472
Segment allocations (c)	133			120			118			117			123			488			454
Depreciation and amortization	11			9			10			8			8			38			30
Other (d)	29			29			25			33			30			116			117
Total noninterest expense	293			273			268			279			277			1,113			1,073
Pre-tax earnings (b)	158			153			168			137			124			616			492
Income taxes (b)	37			36			39			32			29			144			116
Earnings (b)	$	121		$	117		$	129		$	105		$	95		$	472		$	376
Average Balance Sheet
Loans (b)
Consumer
Residential real estate	$	9,876		$	9,937		$	9,912		$	9,907		$	9,981		$	9,908		$	9,920
Other consumer	3,673			3,574			3,543			3,472			3,480			3,566			3,520
Total consumer	13,549			13,511			13,455			13,379			13,461			13,474			13,440
Commercial	566			659			731			657			668			653			761
Total loans	$	14,115		$	14,170		$	14,186		$	14,036		$	14,129		$	14,127		$	14,201
Total assets (b)	$	14,505		$	14,575		$	14,629		$	14,482		$	14,580		$	14,548		$	14,644
Deposits (b)
Noninterest-bearing	$	1,387		$	1,426		$	1,585		$	1,540		$	1,539		$	1,484		$	1,560
Interest-bearing	25,564			25,437			25,327			26,106			25,669			25,607			25,832
Total deposits	$	26,951		$	26,863		$	26,912		$	27,646		$	27,208		$	27,091		$	27,392
Performance Ratios (b)
Return on average assets	3.31 %		%	3.18 %		%	3.54 %		%	2.94 %		%	2.59 %		%	3.24 %		%	2.57 %		%
Noninterest income to total revenue	59 %		%	59 %		%	58 %		%	58 %		%	60 %		%	59 %		%	61 %		%
Efficiency	67 %		%	63 %		%	63 %		%	67 %		%	69 %		%	65 %		%	69 %		%
Other Information
Nonperforming assets (e)	$	52		$	58		$	63		$	36		$	28
Net charge-offs (recoveries) - loans and leases	$	—		$	2		$	(1)		$	—		$	2		$	1		$	2
Client Assets Under Administration (in billions) (e)(f)
Discretionary client assets under management
PNC Private Bank	$	138		$	137		$	131		$	127		$	129
Institutional Asset Management	96			91			86			83			82
Total discretionary clients assets under management	234			228			217			210			211
Nondiscretionary client assets under administration	238			212			204			201			210
Total	$	472		$	440		$	421		$	411		$	421

(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, foreclosed and other 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.