PNC Q3 earnings rise 15% to $2.10B; revenue grows 11%

Average loans rose 2% and deposits 1% quarter over quarter, while net loan charge-offs increased 44% year over year.

Rhea-AI Filing Summary

The PNC Financial Services Group, Inc. reported third-quarter 2026 net income of $2.097 billion, up 15% year over year, and revenue of $6.562 billion, up 11% year over year but down 5% from the second quarter. Diluted EPS was $4.97; adjusted diluted EPS was $5.09, an increase of $0.24 from the second quarter after excluding integration costs and significant items. Net interest income increased 2% quarter over quarter to $4.206 billion, while fee income declined 6%.

Average loans were $372.2 billion and average deposits were $461.2 billion, increasing 2% and 1%, respectively, from the second quarter. Net loan charge-offs were $257 million, including $35 million related to the student-loan portfolio transfer; nonperforming loans were $2.194 billion, up 8% from June 30, 2026.

PNC returned $1.4 billion of capital in the quarter, including $0.8 billion in common dividends and $0.6 billion in share repurchases. The board declared a $2.00-per-share quarterly common dividend, payable November 5, 2026, to shareholders of record October 14, 2026. Fourth-quarter 2026 share repurchases were expected to approximate third-quarter levels.

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Positive

• Moderate pointThird-quarter revenue increased 11% year over year to $6.562 billion.
• Moderate pointNet income rose 15% year over year to $2.097 billion.
• Moderate pointQuarterly common dividend was $2.00 per share, compared with $1.70 in 2Q26.

Negative

• Minor pointNet loan charge-offs increased 44% year over year to $257 million.
• Minor pointNonperforming loans increased 8% from the second quarter to $2.194 billion.

Filing Explained

During the third quarter, PNC transferred its $1.4 billion education-loan portfolio from loans to loans held-for-sale, changing its balance-sheet classification; the filing reports a transfer, not a completed sale.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revenue: $6.562 billion Net income: $2.097 billion Diluted EPS: $4.97 per share +4 more

7 metrics

Revenue $6.562 billion Third quarter 2026; increased 11% year over year

Net income $2.097 billion Third quarter 2026; increased 15% year over year

Diluted EPS $4.97 per share Third quarter 2026

Adjusted diluted EPS $5.09 per share Third quarter 2026; non-GAAP measure

Net interest income $4.206 billion Third quarter 2026; increased 2% from the second quarter

Net loan charge-offs $257 million Third quarter 2026; increased 44% year over year

Quarterly cash dividend $2.00 per common share Declared for payment November 5, 2026

Key Terms

Net interest margin (NIM), Pretax, pre-provision earnings (PPNR), Common equity tier 1 (CET1) capital ratio, Nonperforming loans

4 terms

Net interest margin (NIM) financial

"Net interest margin (NIM) was 2.94%"

Net interest margin (NIM) measures how much profit a bank or lending business makes from its core activity of borrowing and lending: it’s the difference between interest earned on loans and investments and interest paid to depositors and lenders, expressed as a percentage of the assets that earn interest. Think of it like a store’s markup on goods — a higher NIM means the lender keeps more on each dollar it intermediates, so investors use it to judge profitability and sensitivity to interest-rate changes.

Pretax, pre-provision earnings (PPNR) financial

"Pretax, pre-provision earnings (PPNR) increased 1%"

Pretax, pre-provision earnings (PPNR) is a bank’s profit from core operations before paying taxes and before setting aside loan-loss reserves. Think of it as the cash a lender generates from normal business—interest, fees and operating costs—before preparing for potential bad loans and tax bills. Investors use PPNR to judge underlying profitability and the firm’s ability to absorb future losses, pay dividends or invest, independent of one-time loss provisions or tax effects.

Common equity tier 1 (CET1) capital ratio financial

"Common equity tier 1 (CET1) capital ratio of 9.8%"

The common equity tier 1 (CET1) capital ratio measures a bank’s core capital—mainly common stock and retained earnings—against its assets after those assets are adjusted for risk. Think of it as the size of the bank’s financial cushion compared with the riskiness of what it owns; a higher CET1 ratio means a bigger cushion to absorb losses and generally signals greater safety for investors, though it can also affect returns.

Nonperforming loans financial

"Total nonperforming loans of $2.2 billion increased $167 million"

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

Earnings Snapshot

Net income: $2.097 billion · Guidance included

Third quarter 2026

Net income $2.097 billion +15% year over year

Total revenue $6.562 billion +11% year over year

Diluted EPS $4.97 per share $4.35 per share in the third quarter of 2025

Adjusted diluted EPS $5.09 per share +$0.24 from the second quarter

Guidance

Fourth-quarter 2026 share repurchase activity is expected to approximate third-quarter 2026 share repurchase levels.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were PNC's third-quarter 2026 earnings and revenue?

PNC reported net income of $2.097 billion and revenue of $6.562 billion for the third quarter of 2026. Diluted EPS was $4.97, and adjusted diluted EPS, excluding integration costs and significant items, was $5.09.

What dividend did PNC declare for the third quarter of 2026?

The board declared a quarterly cash dividend of $2.00 per common share, payable November 5, 2026, to shareholders of record at the close of business October 14, 2026.

When did PNC complete the FirstBank acquisition, and what did FirstBank bring?

PNC completed its acquisition of FirstBank Holding Company on January 5, 2026. At close, FirstBank had $26 billion of assets, $16 billion of loans and $23 billion of deposits. By June 22, 2026, PNC had converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/15/2026 - 06:46 AM EDT Accepted by SEC EDGAR 10/15/2026 - 06:46 AM EDT Learn about SEC filing dates

0000713676false00007136762026-10-152026-10-15

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

October 15, 2026

Date of Report (Date of earliest event reported)

THE PNC FINANCIAL SERVICES GROUP, INC.

(Exact name of registrant as specified in its charter)

Commission File Number 001-09718

Pennsylvania			25-1435979
(State or other jurisdiction of			(I.R.S. Employer
incorporation)			Identification No.)

The Tower at PNC Plaza

300 Fifth Avenue

Pittsburgh, Pennsylvania 15222-2401

(Address of principal executive offices, including zip code)

(888) 762-2265

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to 12(b) of the Act:

Title of Each Class			Trading Symbol(s)			Name of Each Exchange     on Which Registered
Common Stock, par value $5.00			PNC			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02 Results of Operations and Financial Condition.

On October 15, 2026, The PNC Financial Services Group, Inc. (“PNC”) issued a press release regarding PNC’s earnings and business results for the third quarter of 2026. A copy of PNC’s press release is included in this Report as Exhibit 99.1 and is furnished herewith.

In connection therewith, PNC provided supplementary financial information on its website. A copy of PNC’s supplementary financial information is included in this Report as Exhibit 99.2 and is furnished herewith.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.  

Number			Description			Method of Filing
99.1			Press release dated October 15, 2026			Furnished herewith
99.2			Financial Supplement (unaudited) for the Third Quarter 2026			Furnished herewith
104			The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

- 2 -

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						THE PNC FINANCIAL SERVICES GROUP, INC. (Registrant)
Date:			October 15, 2026			By:			/s/ Gregory H. Kozich
									Gregory H. Kozich
									Senior Vice President and Controller

 - 3 -

Exhibit 99.1

PNC Reports Third Quarter 2026 Net Income of $2.1 Billion,

$4.97 Diluted EPS or $5.09 as Adjusted

Grew average loans and deposits; increased NII and reduced expenses; 57% efficiency ratio

PITTSBURGH, Oct. 15, 2026 – The PNC Financial Services Group, Inc. (NYSE: PNC) today reported:

									For the quarter
In millions, except per share data and as noted									3Q26			2Q26			3Q25																		Third Quarter Highlights
																																	▪
Financial Results																																	Comparisons reflect 3Q26 vs. 2Q26
Net interest income (NII)									$	4,206		$	4,107		$	3,648																	Income Statement ▪Adjusted diluted EPS of $5.09 increased $0.24 –Excludes integration costs and significant items from both periods ▪PPNR increased 1% ▪Generated 18.3% ROTCE ▪NII increased 2%; NIM of 2.94% ▪Fee income decreased 6% primarily due to elevated 2Q26 capital markets activity ▪Other noninterest income was $214 million, decreasing $275 million driven by 2Q26 significant items ▪Noninterest expense declined 8%, or 3%, as adjusted –Efficiency ratio improved to 57% Balance Sheet ▪Average loans increased $9.0 billion, or 2%, reflecting new production and higher utilization –Transferred $1.4 billion student loan portfolio to held-for-sale ▪Average deposits increased 1%; spot deposits increased 4% ▪Average investment securities increased 3% ▪Net loan charge-offs were $257 million, including $35 million related to the student loan portfolio transfer ▪AOCI of negative $6.5 billion in 3Q26, compared to negative $4.1 billion in 2Q26 ▪Maintained strong capital position –CET1 capital ratio of 9.8% –$0.8 billion of common dividends –$0.6 billion of share repurchases
Fee income (non-GAAP)									2,142			2,279			2,069
Other noninterest income									214			489			198
Noninterest income									2,356			2,768			2,267
Revenue									6,562			6,875			5,915
Noninterest expense									3,751			4,098			3,461
Integration costs and significant items									27			261			—
Noninterest expense - as adjusted (non-GAAP)									3,724			3,837			3,461
Pretax, pre-provision earnings (PPNR) (non-GAAP)									2,811			2,777			2,454
Provision for credit losses									189			191			167
Net income									2,097			2,055			1,822
Per Common Share
Diluted earnings per share (EPS)									$	4.97		$	4.81		$	4.35
EPS impact of integration costs and significant items									0.12			0.04
Diluted EPS - as adjusted (non-GAAP)									5.09			4.85
Average diluted common shares outstanding									401			403			396
Book value									142.17			145.52			135.67
Tangible book value (TBV) (non-GAAP)									107.64			111.09			107.84
Balance Sheet & Credit Quality
Average loans In billions									$	372.2		$	363.2		$	325.9
Average securities In billions									151.4			147.1			144.4
Average deposits In billions									461.2			457.0			431.8
Accumulated other comprehensive income (loss) (AOCI) In billions									(6.5)			(4.1)			(4.1)
Net loan charge-offs									257			226			179
Allowance for credit losses to total loans									1.42		%	1.48		%	1.61		%
Selected Ratios
Return on average common shareholders’ equity									13.89		%	13.61		%	13.24		%
Return on avg. tangible common equity (ROTCE) (non-GAAP)									18.28			17.88			16.77
Return on average assets									1.32			1.34			1.27
Net interest margin (NIM) (non-GAAP)									2.94			2.96			2.79
Noninterest income to total revenue									36			40			38
Efficiency									57			60			59
Common equity tier 1 (CET1) capital ratio									9.8			9.9			10.7
See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release. Totals may not sum due to rounding.

From Bill Demchak, PNC Chairman and Chief Executive Officer:

“Our strategy continues to drive growth across our businesses, as we deepen our presence in key markets and expand our reach nationally. During the third quarter, we continued to build on the strong momentum we delivered in the first half of the year, and we generated an 18.3% return on average tangible common equity. We are well positioned, and remain confident in our long-term outlook.”

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 2

Integration Costs and Significant Items

In the third quarter of 2026, PNC incurred integration costs related to the FirstBank acquisition of $36 million. Results also included significant items of negative $25 million related to net Visa activity, including an $11 million valuation gain on remaining Visa shares received in the second quarter exchange and negative $36 million of Visa Class B-3 derivative fair value adjustments, primarily related to litigation escrow funding. The combined after-tax impact of both integration costs and 3Q26 significant items resulted in a $48 million decline in net income, or a 12 cent reduction to EPS.

During the second quarter of 2026, PNC incurred integration costs of $127 million and significant items with a net benefit of $84 million, as outlined in the table below. The combined after-tax impact of both integration costs and 2Q26 significant items resulted in a $15 million decline in net income, or a 4 cent reduction to EPS.

Impact of Integration Costs and Significant Items
In millions, except per share data
Noninterest Income						3Q26						2Q26
Gains related to Visa share exchange						$	11					$	448
Visa Class B-3 derivative fair value adjustments						(36)						(85)
2Q26 loss on sale of securities												(139)
Significant items						$	(25)					$	224
Integration costs						(9)						(6)
Noninterest income impact of integration costs and significant items						$	(34)					$	218
Noninterest Expense
Significant item - contribution to PNC Foundation												$	140
Integration costs						$	27					121
Noninterest expense impact of integration costs and significant items						$	27					$	261
Net Income and EPS
Total significant items						$	(25)					$	84
Total integration costs						(36)						(127)
Pretax, pre-provision impact						$	(61)					$	(43)
Income taxes (benefit)						(13)						(28)
Net income decrease from integration costs and significant items						$	(48)					$	(15)
EPS impact of integration costs and significant items						$	(0.12)					$	(0.04)
Income taxes on integration costs and significant items are calculated at a statutory tax rate of 21% on pretax, pre-provision earnings. 2Q26 significant items tax impact also includes the benefit of shares donated to the PNC Foundation.

Income Statement Highlights

Third quarter 2026 compared with second quarter 2026

▪Total revenue of $6.6 billion decreased $313 million, or 5%, as growth in net interest income was more than offset by lower noninterest income.

–Net interest income of $4.2 billion increased $99 million, or 2%, driven by commercial loan growth and higher yields on interest-earning assets, partially offset by increased funding costs.

•Net interest margin of 2.94% decreased 2 basis points.

–Fee income of $2.1 billion decreased $137 million, or 6%, primarily due to elevated second quarter capital markets and advisory revenue.

–Other noninterest income of $214 million included higher private equity revenue and significant items of negative $25 million related to net Visa activity.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 3

▪Noninterest expense of $3.8 billion decreased $347 million, or 8%, and included $27 million of integration costs in the third quarter, compared to $261 million of both integration costs and significant items in the second quarter. Excluding these items from both quarters, noninterest expense, as adjusted, decreased 3%.

▪Provision for credit losses was $189 million in the third quarter, stable from the second quarter.

▪The effective tax rate was 20.0% for the third quarter and 20.5% for the second quarter.

Balance Sheet Highlights

Third quarter 2026 compared with second quarter 2026 or September 30, 2026 compared with June 30, 2026

▪Average loans of $372.2 billion increased $9.0 billion, or 2%. Average commercial loans increased $10.4 billion, or 4%, driven by strong new production and increased utilization. Average consumer loans decreased $1.4 billion, or 1%, primarily due to lower residential mortgage loans and the student loan portfolio transfer.

–Loans at September 30, 2026 of $378.8 billion increased $10.8 billion, or 3%, from June 30, 2026, driven by commercial loan growth. This increase was partially offset by a decline in consumer loans, including the transfer of the $1.4 billion student loan portfolio to held-for-sale.

▪Credit quality performance:

–Delinquencies of $1.3 billion decreased $135 million, or 9%, due to lower consumer loan delinquencies.

–Total nonperforming loans of $2.2 billion increased $167 million, or 8%, driven by higher commercial nonperforming loans.

–Net loan charge-offs were $257 million and included $35 million related to the transfer of student loans to held-for-sale.

–The allowance for credit losses was $5.4 billion, or 1.42% of total loans, at September 30, 2026 and $5.5 billion, or 1.48% of total loans, at June 30, 2026.

▪Average investment securities of $151.4 billion increased $4.3 billion, or 3%, reflecting higher residential mortgage-backed securities.

▪Average deposits of $461.2 billion increased $4.2 billion, or 1%, primarily due to seasonally higher commercial interest-bearing deposits.

–Deposits at September 30, 2026 of $466.4 billion increased $16.6 billion, or 4%, from June 30, 2026, driven by higher commercial interest-bearing deposits, reflecting seasonality as well as new and expanded client relationships.

▪PNC maintained a strong capital and liquidity position:

–On October 2, 2026, the PNC board of directors declared a quarterly cash dividend on common stock of $2.00 per share to be paid on November 5, 2026 to shareholders of record at the close of business October 14, 2026.

–PNC returned $1.4 billion of capital to shareholders, reflecting $0.8 billion of dividends on common shares and $0.6 billion of common share repurchases.

–Share repurchase activity in the fourth quarter of 2026 is expected to approximate third quarter 2026 share repurchase levels.

–The Basel III common equity tier 1 capital ratio was an estimated 9.8% at September 30, 2026 and was 9.9% at June 30, 2026.

–PNC’s average LCR for the three months ended September 30, 2026 was 106%, exceeding the regulatory minimum requirement throughout the quarter.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 4

Earnings Summary
In millions, except per share data						3Q26						2Q26						3Q25
Net income						$	2,097					$	2,055					$	1,822
Net income attributable to diluted common shareholders						$	1,994					$	1,941					$	1,723
Net income attributable to diluted common shareholders - as adjusted (non-GAAP)						$	2,042					$	1,956
Diluted earnings per common share						$	4.97					$	4.81					$	4.35
Diluted earnings per common share - as adjusted (non-GAAP)						$	5.09					$	4.85
Average diluted common shares outstanding						401						403						396
Cash dividends declared per common share						$	2.00					$	1.70					$	1.70
See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.

The Consolidated Financial Highlights accompanying this news release include additional information regarding reconciliations of non-GAAP financial measures to reported (GAAP) amounts. This information supplements results as reported in accordance with GAAP and should not be viewed in isolation from, or as a substitute for, GAAP results. Information in this news release, including the financial tables, is unaudited.

CONSOLIDATED REVENUE REVIEW
Revenue																		Change			Change
																		3Q26 vs			3Q26 vs
In millions			3Q26						2Q26						3Q25			2Q26			3Q25
Net interest income			$	4,206					$	4,107					$	3,648		2		%	15		%
Noninterest income			2,356						2,768						2,267			(15)		%	4		%
Total revenue			$	6,562					$	6,875					$	5,915		(5)		%	11		%

Total revenue for the third quarter of 2026 decreased $313 million compared to the second quarter of 2026 as growth in net interest income was more than offset by lower noninterest income. Noninterest income in the third quarter of 2026 included integration costs and significant items of negative $34 million compared to a benefit of $218 million in the second quarter of 2026. Compared to the third quarter of 2025, total revenue increased $647 million due to both higher net interest income and noninterest income.

Net interest income of $4.2 billion increased $99 million from the second quarter of 2026 driven by commercial loan growth and higher yields on interest-earning assets, partially offset by increased funding costs. Compared to the third quarter of 2025, net interest income increased $558 million due to commercial loan growth, the benefit of FirstBank and lower funding costs.

Net interest margin was 2.94% in the third quarter of 2026, 2.96% in the second quarter of 2026 and 2.79% in the third quarter of 2025.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 5

Noninterest Income																		Change			Change
																		3Q26 vs			3Q26 vs
In millions			3Q26						2Q26						3Q25			2Q26			3Q25
Asset management and brokerage			$	447					$	440					$	404		2		%	11		%
Capital markets and advisory			433						577						432			(25)		%	—
Card and cash management			769						772						737			—			4		%
Lending and deposit services			358						346						335			3		%	7		%
Residential and commercial mortgage			135						144						161			(6)		%	(16)		%
Fee income (non-GAAP)			2,142						2,279						2,069			(6)		%	4		%
Other noninterest income			214						489						198			(56)		%	8		%
Total noninterest income			$	2,356					$	2,768					$	2,267		(15)		%	4		%
See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.

Noninterest income for the third quarter of 2026 decreased $412 million from the second quarter of 2026 primarily due to the change in integration costs and significant items, as well as lower capital markets and advisory revenue. Asset management and brokerage fees increased $7 million as a result of higher average equity markets and increased client activity. Capital markets and advisory revenue decreased $144 million due to elevated second quarter activity. Card and cash management decreased $3 million as higher treasury management product revenue was more than offset by FirstBank integration related fee waivers. Lending and deposit services revenue increased $12 million primarily due to increased customer activity. Residential and commercial mortgage revenue decreased $9 million driven by lower residential mortgage revenue. Other noninterest income of $214 million included higher private equity revenue and negative $25 million of significant items related to net Visa activity. Second quarter of 2026 other noninterest income included the benefit of $218 million of both integration costs and significant items.

Compared to the third quarter of 2025, noninterest income increased $89 million. Asset management and brokerage fees increased $43 million as a result of higher average equity markets and growth in client relationships. Card and cash management increased $32 million driven by increased treasury management product revenue, as well as growth in customer relationships and activity. Lending and deposit related revenue increased $23 million due to increased customer activity and higher loan commitment fee revenue. Residential and commercial mortgage revenue decreased $26 million primarily driven by lower mortgage servicing rights valuation, net of economic hedge. Other noninterest income increased $16 million reflecting higher private equity revenue.

CONSOLIDATED EXPENSE REVIEW
Noninterest Expense																		Change			Change
																		3Q26 vs			3Q26 vs
In millions			3Q26						2Q26						3Q25			2Q26			3Q25
Personnel			$	2,031					$	2,273					$	1,970		(11)		%	3		%
Occupancy			262						252						235			4		%	11		%
Equipment			435						435						416			—			5		%
Marketing			106						110						93			(4)		%	14		%
Other			917						1,028						747			(11)		%	23		%
Total noninterest expense			$	3,751					$	4,098					$	3,461		(8)		%	8		%
Integration costs and significant items			27						261						—
Noninterest expense - as adjusted (non-GAAP)			$	3,724					$	3,837					$	3,461		(3)		%	8		%
See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 6

Noninterest expense for the third quarter of 2026 of $3.8 billion decreased $347 million from the second quarter of 2026. Noninterest expense, as adjusted for both quarters, decreased $113 million from the second quarter of 2026 driven by lower compensation expense and continued expense discipline. Compared to the third quarter of 2025, noninterest expense, as adjusted for the third quarter of 2026, increased $263 million reflecting continued investments to support business growth as well as the addition of FirstBank operating expenses.

The effective tax rate was 20.0% for the third quarter of 2026, 20.5% for the second quarter of 2026 and 20.3% for the third quarter of 2025.

CONSOLIDATED BALANCE SHEET REVIEW

Loans																		Change			Change
																		3Q26 vs			3Q26 vs
In billions			3Q26						2Q26						3Q25			2Q26			3Q25
Average
Commercial and industrial			$	232.6					$	223.7					$	195.9		4		%	19		%
Commercial real estate			36.6						35.1						30.9			4		%	19		%
Commercial			$	269.2					$	258.8					$	226.8		4		%	19		%
Consumer			103.0						104.4						99.2			(1)		%	4		%
Average loans			$	372.2					$	363.2					$	325.9		2		%	14		%
Quarter end
Commercial and industrial			$	240.0					$	227.9					$	197.1		5		%	22		%
Commercial real estate			37.0						36.0						30.3			3		%	22		%
Commercial			$	277.0					$	263.9					$	227.4		5		%	22		%
Consumer			101.8						104.1						99.2			(2)		%	3		%
Total loans			$	378.8					$	368.0					$	326.6		3		%	16		%
Totals may not sum due to rounding

Average loans for the third quarter of 2026 increased $9.0 billion compared to the second quarter of 2026 and $46.2 billion compared to the third quarter of 2025.

Average commercial loans increased $10.4 billion and $42.4 billion compared to the second quarter of 2026 and the third quarter of 2025, respectively. In each comparison, the growth was driven by strong new production and increased utilization. Compared to the third quarter of 2025, the increase was also attributable to acquired FirstBank loans.

Average consumer loans decreased $1.4 billion compared to the second quarter of 2026, primarily due to lower residential mortgage loans and the student loan portfolio transfer. Compared to the third quarter of 2025, average consumer loans increased $3.8 billion driven by the benefit of FirstBank loans.

Loans at September 30, 2026 increased $10.8 billion from June 30, 2026, driven by commercial loan growth partially offset by lower consumer loans. The decrease in consumer loans was primarily attributable to the transfer of the $1.4 billion student loan portfolio to held-for-sale, in addition to lower residential mortgage loans. Compared to September 30, 2025, loans increased $52.2 billion, as a result of commercial loan growth as well as the benefit from acquired FirstBank commercial and consumer loans.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 7

Average Investment Securities																		Change			Change
																		3Q26 vs			3Q26 vs
In billions			3Q26						2Q26						3Q25			2Q26			3Q25
Available for sale			$	72.0					$	73.7					$	69.8		(2)		%	3		%
Held to maturity			79.3						73.4						74.6			8		%	6		%
Total			$	151.4					$	147.1					$	144.4		3		%	5		%
Totals may not sum due to rounding

Average investment securities of $151.4 billion in the third quarter of 2026 increased $4.3 billion compared to the second quarter of 2026 and $6.9 billion compared to the third quarter of 2025. In both comparisons, the increase reflected higher residential mortgage-backed securities.

The duration of the investment securities portfolio was 4.1 years as of September 30, 2026, 3.6 years at June 30, 2026 and 3.4 years as of September 30, 2025. Net unrealized losses on available-for-sale securities were $4.0 billion at September 30, 2026 and $2.1 billion at both June 30, 2026 and September 30, 2025.

Deposits																		Change			Change
																		3Q26 vs			3Q26 vs
In billions			3Q26						2Q26						3Q25			2Q26			3Q25
Average
Interest-bearing (IB) deposits			$	360.0					$	353.5					$	339.1		2		%	6		%
Noninterest-bearing (NIB) deposits			101.2						103.5						92.8			(2)		%	9		%
Average deposits			$	461.2					$	457.0					$	431.8		1		%	7		%
Quarter end
Interest-bearing deposits			$	366.6					$	350.4					$	341.5		5		%	7		%
Noninterest-bearing deposits			99.7						99.4						91.2			—			9		%
Total deposits			$	466.4					$	449.8					$	432.7		4		%	8		%
IB % of total avg. deposits			78		%				77		%				79%
NIB % of total avg. deposits			22		%				23		%				21%
Totals may not sum due to rounding

Third quarter 2026 average deposits of $461.2 billion increased $4.2 billion compared to the second quarter of 2026, driven by seasonally higher commercial interest-bearing deposits. Compared to the third quarter of 2025, average deposits increased $29.4 billion, reflecting the addition of FirstBank and growth in commercial interest-bearing deposits.

Deposits at September 30, 2026 increased $16.6 billion and $33.6 billion from June 30, 2026 and September 30, 2025, respectively. In each comparison, the increase included higher commercial interest-bearing deposits, reflecting new and expanded client relationships. Compared to the third quarter of 2025, the increase was also attributable to acquired FirstBank deposits.

Average noninterest-bearing deposits as a percentage of total average deposits was 22% in the third quarter of 2026, 23% in the second quarter of 2026 and 21% in the third quarter of 2025.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 8

Borrowed Funds																		Change			Change
																		3Q26 vs			3Q26 vs
In billions			3Q26						2Q26						3Q25			2Q26			3Q25
Average borrowed funds			$	85.7					$	78.9					$	66.3		9		%	29		%
Quarter end
Total borrowed funds			$	79.8					$	85.7					$	62.3		(7)		%	28		%
Avg. borrowed funds to avg. liabilities			15		%				14		%				13		%
Totals may not sum due to rounding

Average borrowed funds of $85.7 billion in the third quarter of 2026 increased $6.7 billion compared to the second quarter of 2026 and $19.4 billion compared to the third quarter of 2025. In both comparisons, the increase was primarily due to higher Federal Home Loan Bank advances added late in the second quarter of 2026.

Borrowed funds at September 30, 2026 decreased $6.0 billion from June 30, 2026, driven by a reduction in Federal Home Loan Bank advances.

Capital			September 30, 2026						June 30, 2026						September 30, 2025
Common shareholders’ equity In billions						$	56.5											$	58.1					$	53.2
Accumulated other comprehensive income (loss) In billions			$	(6.5)					$	(4.1)					$	(4.1)
Basel III common equity tier 1 capital ratio *			9.8		%				9.9		%				10.7		%
*September 30, 2026 ratio is estimated.

PNC maintained a strong capital position. Common shareholders’ equity at September 30, 2026 decreased $1.6 billion from June 30, 2026 due to a decline in accumulated other comprehensive income, common dividends paid and share repurchases, partially offset by net income.

As a Category III institution, PNC has elected to exclude accumulated other comprehensive income related to both available-for-sale securities and pension and other post-retirement plans from CET1 capital. Accumulated other comprehensive income was negative $6.5 billion at September 30, 2026 compared to negative $4.1 billion at both June 30, 2026 and September 30, 2025. The decline in each comparison reflected the impact of higher interest rates on securities and swaps, partially offset by the continued accretion of unrealized losses.

In the third quarter of 2026, PNC returned $1.4 billion of capital to shareholders, reflecting $0.8 billion of dividends on common shares and $0.6 billion of common share repurchases. The Stress Capital Buffer (SCB) framework permits capital return in amounts in excess of SCB minimum levels. Consistent with this framework, PNC had approximately 27% of the 100 million common shares still available for repurchase at September 30, 2026 under the repurchase program previously approved by our board of directors.

Share repurchase activity in the fourth quarter of 2026 is expected to approximate third quarter of 2026 share repurchase levels. PNC may adjust share repurchase activity depending on market and economic conditions, as well as other factors. PNC’s SCB will be maintained at the regulatory minimum of 2.5% through December 31, 2027.

On October 2, 2026, the PNC board of directors declared a quarterly cash dividend on common stock of $2.00 per share to be paid on November 5, 2026 to shareholders of record at the close of business October 14, 2026.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 9

At September 30, 2026, PNC was considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements. For additional information regarding PNC’s Basel III capital ratios, see Capital Ratios in the Consolidated Financial Highlights.

CREDIT QUALITY REVIEW
Credit Quality												Change			Change
			September 30, 2026			June 30, 2026			September 30, 2025			09/30/26 vs			09/30/26 vs
In millions												06/30/26			09/30/25
Provision for credit losses (a)			$	189		$	191		$	167		$	(2)		$	22
Net loan charge-offs (a)			$	257		$	226		$	179		14		%	44		%
Allowance for credit losses (b)			$	5,386		$	5,461		$	5,253		(1)		%	3		%
Total delinquencies (c)			$	1,301		$	1,436		$	1,233		(9)		%	6		%
Nonperforming loans			$	2,194		$	2,027		$	2,137		8		%	3		%
Net charge-offs to average loans (annualized)			0.28		%	0.25		%	0.22		%
Allowance for credit losses to total loans			1.42		%	1.48		%	1.61		%
Nonperforming loans to total loans			0.58		%	0.55		%	0.65		%
(a) Represents amounts for the three months ended for each respective period (b) Excludes allowances for investment securities and other financial assets (c) Total delinquencies represent accruing loans 30 days or more past due

Provision for credit losses was $189 million in the third quarter of 2026, $191 million in the second quarter of 2026 and $167 million in the third quarter of 2025.

Net loan charge-offs were $257 million in the third quarter of 2026, increasing $31 million and $78 million compared to the second quarter of 2026 and the third quarter of 2025, respectively. In both comparisons, the increase included $35 million in net loan charge-offs related to the student loan portfolio transfer. Compared to the third quarter of 2025, net loan charge-offs also increased due to higher commercial loan net charge-offs.

The allowance for credit losses was $5.4 billion at September 30, 2026, $5.5 billion at June 30, 2026 and $5.3 billion at September 30, 2025. The allowance for credit losses as a percentage of total loans was 1.42% at September 30, 2026, 1.48% at June 30, 2026 and 1.61% at September 30, 2025.

Delinquencies at September 30, 2026 were $1.3 billion, decreasing $135 million from June 30, 2026 due to lower consumer loan delinquencies. Compared to September 30, 2025, delinquencies increased $68 million due to higher commercial loan delinquencies.

Nonperforming loans of $2.2 billion at September 30, 2026 increased $167 million compared to June 30, 2026 and $57 million compared to September 30, 2025. In both comparisons, the increase was driven by higher commercial nonperforming loans.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 10

BUSINESS SEGMENT RESULTS
Business Segment Income (Loss)
In millions			3Q26						2Q26						3Q25
Retail Banking			$	1,425					$	1,747					$	1,351
Corporate & Institutional Banking			1,552						1,588						1,545
Asset Management Group			128						135						120
Other			(1,024)						(1,430)						(1,208)
Net income excluding noncontrolling interests			$	2,081					$	2,040					$	1,808

Retail Banking																					Change						Change
																					3Q26 vs						3Q26 vs
In millions			3Q26						2Q26						3Q25						2Q26						3Q25
Net interest income			$	3,246					$	3,291					$	3,050					$	(45)					$	196
Noninterest income			$	842					$	1,227					$	790					$	(385)					$	52
Noninterest expense			$	2,104					$	2,111					$	1,941					$	(7)					$	163
Provision for credit losses			$	115					$	120					$	126					$	(5)					$	(11)
Earnings			$	1,425					$	1,747					$	1,351					$	(322)					$	74
In billions
Brokerage account client assets			$	97					$	97					$	89					—						$	8
In billions
Average loans			$	107.9					$	110.5					$	96.9					$	(2.6)					$	11.0
Average deposits			$	267.1					$	271.6					$	243.3					$	(4.5)					$	23.8
Net loan charge-offs In millions			$	154					$	123					$	126					$	31					$	28
During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

Retail Banking Highlights

Third quarter 2026 compared with second quarter 2026

▪Earnings decreased 18%, reflecting lower noninterest income, primarily due to a $448 million gain related to the Visa share exchange recognized in the second quarter, as well as lower net interest income, partially offset by a lower provision for credit losses.

–Noninterest income decreased 31%, primarily reflecting impacts from the Visa exchange program that occurred in the second quarter of 2026.

–Noninterest expense was stable.

•Brokerage account client assets were stable.

▪Average loans decreased 2% and included lower residential real estate loans as well as the student loan portfolio transfer.

▪Average deposits decreased 2%, primarily due to lower consumer interest-bearing and noninterest-bearing deposit balances.

Third quarter 2026 compared with third quarter 2025

▪Earnings increased 5%, driven by higher net interest income and noninterest income as well as a lower provision for credit losses, partially offset by higher noninterest expense.

–Noninterest income increased 7%, due to increased customer activity and the addition of FirstBank.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 11

–Noninterest expense increased 8% and included FirstBank related expenses as well as continued investments to support business growth.

•Brokerage account client assets increased 9%, driven by higher spot equity markets.

▪Average loans increased 11%, driven by higher commercial and residential real estate loans, primarily attributable to acquired FirstBank loans.

▪Average deposits increased 10%, driven by growth in demand and savings deposits, as well as the addition of FirstBank deposits.

Corporate & Institutional Banking																					Change						Change
																					3Q26 vs						3Q26 vs
In millions			3Q26						2Q26						3Q25						2Q26						3Q25
Net interest income			$	2,045					$	1,992					$	1,888					$	53					$	157
Noninterest income			$	1,167					$	1,291					$	1,132					$	(124)					$	35
Noninterest expense			$	1,106					$	1,131					$	976					$	(25)					$	130
Provision for credit losses			$	76					$	76					$	44					—						$	32
Earnings			$	1,552					$	1,588					$	1,545					$	(36)					$	7
In billions
Average loans			$	247.7					$	236.1					$	212.5					$	11.6					$	35.2
Average deposits			$	164.0					$	158.6					$	155.2					$	5.4					$	8.8
Net loan charge-offs In millions			$	106					$	105					$	53					$	1					$	53
During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

Corporate & Institutional Banking Highlights

Third quarter 2026 compared with second quarter 2026

▪Earnings decreased 2%, reflecting lower noninterest income, partially offset by higher net interest income and lower noninterest expense.

–Noninterest income decreased 10%, due to elevated second quarter capital markets and advisory revenue.

–Noninterest expense decreased 2% and included lower compensation expense.

▪Average loans increased 5%, driven by strong new production and increased utilization of loan commitments.

▪Average deposits increased 3%, due to seasonal growth in interest-bearing deposits.

Third quarter 2026 compared with third quarter 2025

▪Earnings increased modestly, driven by higher net interest income and noninterest income, partially offset by higher noninterest expense as well as a higher provision for credit losses.

–Noninterest income increased 3%, primarily due to increased merger and acquisition advisory fees and growth in treasury management product revenue.

–Noninterest expense increased 13%, reflecting continued investments to support business growth.

▪Average loans increased 17%, driven by strong new production within the commercial and industrial portfolio.

▪Average deposits increased 6%, due to growth in both interest-bearing and noninterest-bearing deposits.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 12

Asset Management Group																					Change						Change
																					3Q26 vs						3Q26 vs
In millions			3Q26						2Q26						3Q25						2Q26						3Q25
Net interest income			$	188					$	191					$	179					$	(3)					$	9
Noninterest income			$	271					$	271					$	254					—						$	17
Noninterest expense			$	296					$	289					$	273					$	7					$	23
Provision for (recapture of) credit losses			$	(4)					$	(3)					$	4					$	(1)					$	(8)
Earnings			$	128					$	135					$	120					$	(7)					$	8
In billions
Discretionary client AUM			$	250					$	247					$	228					$	3					$	22
Nondiscretionary client AUA			$	249					$	256					$	212					$	(7)					$	37
Total client AUA			$	499					$	503					$	440					$	(4)					$	59
In billions
Average loans			$	14.8					$	14.6					$	14.2					$	0.2					$	0.6
Average deposits			$	26.9					$	27.0					$	26.9					$	(0.1)					—
Net loan charge-offs (recoveries) In millions			$	(1)					$	1					$	2					$	(2)					$	(3)
AUM - Assets under management; AUA - Assets under administration
During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

Asset Management Group Highlights

Third quarter 2026 compared with second quarter 2026

▪Earnings decreased 5%, primarily due to higher noninterest expense and lower net interest income.

–Noninterest income was stable.

–Noninterest expense increased 2%, due to continued investments to support business growth.

▪Discretionary client AUM increased 1%, driven by positive net flows.

▪Nondiscretionary client AUA decreased 3%, driven by net outflows.

▪Average loans increased 1%, primarily due to growth in securities-based lending.

▪Average deposits were stable.

Third quarter 2026 compared with third quarter 2025

▪Earnings increased 7%, due to higher noninterest income and net interest income as well as a provision recapture, partially offset by higher noninterest expense.

–Noninterest income increased 7%, reflecting higher average equity markets and positive net flows.

–Noninterest expense increased 8% and included continued investments to support business growth as well as higher variable compensation associated with increased business activity.

▪Discretionary client AUM increased 10% and nondiscretionary client AUM increased 17%. In both instances, the increase was driven by higher spot equity markets and positive net flows.

▪Average loans increased 4%, primarily due to growth in securities-based lending and higher commercial loan balances.

▪Average deposits were stable.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 13

Other

The “Other” category, for the purposes of this release, includes remaining corporate operations that do not meet the criteria for disclosure as a separate reportable business, such as asset and liability management activities, including net securities gains or losses, ACL for investment securities, certain trading activities, certain runoff consumer loan portfolios, private equity investments, intercompany eliminations, corporate overhead net of allocations, tax adjustments that are not allocated to business segments, exited businesses and the residual impact from funds transfer pricing operations.

CONFERENCE CALL AND SUPPLEMENTAL FINANCIAL INFORMATION

PNC Chairman and Chief Executive Officer William S. Demchak and Executive Vice President and Chief Financial Officer Robert Q. Reilly will hold a conference call for investors today at 10:00 a.m. Eastern Time regarding the topics addressed in this news release and the related earnings materials. Dial-in numbers for the conference call are (866) 604-1697 and (215) 268-9875 (international) and Internet access to the live audio listen-only webcast of the call is available at www.pnc.com/investorevents. PNC’s third quarter 2026 earnings materials to accompany the conference call remarks will be available at www.pnc.com/investorevents prior to the beginning of the call. A telephone replay of the call will be available for four weeks at (877) 660-6853 and (201) 612-7415 (international), Access ID 13762272 and a replay of the audio webcast will be available on PNC’s website for 30 days.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS
MEDIA:						INVESTORS:
Anne Pace						Bryan Gill
(631) 338-3268						(412) 768-4143
anne.pace@pnc.com						investor.relations@pnc.com

[TABULAR MATERIAL FOLLOWS]

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 14

2

The PNC Financial Services Group, Inc.			Consolidated Financial Highlights (Unaudited)
FINANCIAL RESULTS						Three months ended																								Nine months ended
Dollars in millions, except per share data						September 30						June 30						September 30												September 30						September 30
						2026						2026						2025												2026						2025
Revenue
Net interest income						$	4,206					$	4,107					$	3,648											$	12,274					$	10,679
Noninterest income						2,356						2,768						2,267												7,328						6,349
Total revenue						6,562						6,875						5,915												19,602						17,028
Provision for credit losses						189						191						167												590						640
Noninterest expense						3,751						4,098						3,461												11,617						10,231
Income before income taxes and noncontrolling interests						$	2,622					$	2,586					$	2,287											$	7,395					$	6,157
Income taxes						525						531						465												1,471						1,193
Net income						$	2,097					$	2,055					$	1,822											$	5,924					$	4,964
Less:
Net income attributable to noncontrolling interests						16						15						14												43						48
Preferred stock dividends (a)						73						85						71												231						225
Preferred stock discount accretion and redemptions						2						2						2												5						6
Net income attributable to common shareholders						$	2,006					$	1,953					$	1,735											$	5,645					$	4,685
Less: Dividends and undistributed earnings allocated to nonvested restricted shares						12						12						12												35						31
Net income attributable to diluted common shareholders						$	1,994					$	1,941					$	1,723											$	5,610					$	4,654
Per Common Share
Basic						$	4.98					$	4.82					$	4.36											$	13.92					$	11.73
Diluted						$	4.97					$	4.81					$	4.35											$	13.91					$	11.72
Cash dividends declared per common share						$	2.00					$	1.70					$	1.70											$	5.40					$	4.90
Effective tax rate (b)						20.0		%				20.5		%				20.3		%										19.9		%				19.4		%
PERFORMANCE RATIOS
Net interest margin (c)						2.94		%				2.96		%				2.79		%										2.95		%				2.79		%
Noninterest income to total revenue						36		%				40		%				38		%										37		%				37		%
Efficiency (d)						57		%				60		%				59		%										59		%				60		%
Return on:
Average common shareholders' equity						13.89		%				13.61		%				13.24		%										13.15		%				12.39		%
Average assets						1.32		%				1.34		%				1.27		%										1.29		%				1.18		%

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

(b)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.

(c)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 generally accepted accounting principles (GAAP) in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025 were $26 million, $27 million and $30 million, respectively. The taxable-equivalent adjustments to net interest income for the nine months ended September 30, 2026 and 2025 were $82 million and $86 million, respectively.

(d)Calculated as noninterest expense divided by total revenue.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 15

The PNC Financial Services Group, Inc.			Consolidated Financial Highlights (Unaudited)
			September 30						June 30						September 30
			2026						2026						2025
BALANCE SHEET DATA
Dollars in millions, except per share data and as noted
Assets			$	627,816					$	616,034					$	568,767
Loans (a)			$	378,792					$	367,953					$	326,616
Allowance for loan and lease losses			$	4,536					$	4,652					$	4,478
Interest-earning deposits with banks			$	24,670					$	22,794					$	33,318
Investment securities			$	146,370					$	149,506					$	141,523
Total deposits (a)			$	466,362					$	449,792					$	432,749
Borrowed funds (a)			$	79,757					$	85,723					$	62,344
Allowance for unfunded lending related commitments			$	850					$	809					$	775
Total shareholders' equity			$	62,353					$	64,008					$	58,990
Common shareholders' equity			$	56,474					$	58,131					$	53,235
Accumulated other comprehensive income (loss)			$	(6,472)					$	(4,120)					$	(4,077)
Book value per common share			$	142.17					$	145.52					$	135.67
Tangible book value per common share (non-GAAP) (b)			$	107.64					$	111.09					$	107.84
Period end common shares outstanding (In millions)			397						399						392
Loans to deposits			81		%				82		%				75		%
Common shareholders' equity to total assets			9.0		%				9.4		%				9.4		%
CLIENT ASSETS (In billions)
Discretionary client assets under management			$	250					$	247					$	228
Nondiscretionary client assets under administration			249						256						212
Total client assets under administration			499						503						440
Brokerage account client assets			99						99						92
Total client assets			$	598					$	602					$	532
CAPITAL RATIOS
Basel III (c)
Common equity tier 1			9.8		%				9.9		%				10.7		%
Tier 1 risk-based			11.0		%				11.1		%				12.0		%
Total capital risk-based			12.6		%				12.9		%				13.6		%
Leverage			8.9		%				9.0		%				9.2		%
Supplementary leverage			7.2		%				7.2		%				7.5		%
ASSET QUALITY
Nonperforming loans to total loans			0.58		%				0.55		%				0.65		%
Nonperforming assets to total loans, OREO, foreclosed and other assets (d)			0.61		%				0.58		%				0.70		%
Nonperforming assets to total assets			0.37		%				0.35		%				0.40		%
Net charge-offs to average loans (for the three months ended) (annualized)			0.28		%				0.25		%				0.22		%
Allowance for loan and lease losses to total loans			1.20		%				1.26		%				1.37		%
Allowance for credit losses to total loans (e)			1.42		%				1.48		%				1.61		%
Allowance for loan and lease losses to nonperforming loans			207		%				230		%				210		%
Total delinquencies (In millions) (f)			$	1,301					$	1,436					$	1,233

(a)Amounts include assets and liabilities for which we have elected the fair value option. Our second quarter 2026 Form 10-Q included, and our third quarter 2026 Form 10-Q will include, additional information regarding these Consolidated Balance Sheet line items.

(b)See the Tangible Book Value per Common Share table on page 19 for additional information.

(c)All ratios are calculated using the regulatory capital methodology applicable to PNC during each period presented and calculated based on the standardized approach. See Capital Ratios on page 16 for additional information. The ratios as of September 30, 2026 are estimated.

(d)Amounts include nonaccrual servicing advances primarily to single asset/single borrower trusts with commercial real estate as collateral totaling $86 million, $90 million and $127 million at September 30, 2026, June 30, 2026 and September 30, 2025, respectively.

(e)Excludes allowances for investment securities and other financial assets.

(f)Total delinquencies represent accruing loans 30 days or more past due.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 16

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

CAPITAL RATIOS

PNC’s regulatory risk-based capital ratios in 2026 are calculated using the standardized approach for determining risk-weighted assets. Under the standardized approach for determining credit risk-weighted assets, exposures are generally assigned a pre-defined risk weight. Exposures to high volatility commercial real estate, past due exposures and equity exposures are generally subject to higher risk weights than other types of exposures.

Our Basel III capital ratios may be impacted by changes to the regulatory capital rules and additional regulatory guidance or analysis. The following table summarizes our June 30, 2026, September 30, 2025 and estimated September 30, 2026 capital balances and ratios.

Basel lll Common Equity Tier 1 Capital Ratios
			Basel III
			September 30 2026 (estimated)						June 30 2026						September 30  2025
Dollars in millions
Common stock, related surplus and retained earnings, net of treasury stock						$	62,943											$	62,249					$	57,312
Less regulatory capital adjustments:
Goodwill and disallowed intangibles, net of deferred tax liabilities			(13,714)						(13,752)						(10,920)
All other adjustments			(91)						(84)						(71)
Basel III Common equity tier 1 capital			$	49,138					$	48,413					$	46,321
Basel III standardized approach risk-weighted assets (a)			$	500,804					$	487,843					$	434,712
Basel III Common equity tier 1 capital ratio			9.8		%				9.9		%				10.7		%

(a)Basel III standardized approach risk-weighted assets are based on the Basel III standardized approach rules and include credit and market risk-weighted assets.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 17

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

NON-GAAP MEASURES

Fee Income (non-GAAP)			Three months ended
			September 30						June 30						September 30
Dollars in millions			2026						2026						2025
Noninterest income
Asset management and brokerage			$	447					$	440					$	404
Capital markets and advisory			433						577						432
Card and cash management			769						772						737
Lending and deposit services			358						346						335
Residential and commercial mortgage			135						144						161
Fee income (non-GAAP)			$	2,142					$	2,279					$	2,069
Other noninterest income			214						489						198
Total noninterest income			$	2,356					$	2,768					$	2,267

Fee income is a non-GAAP measure and is comprised of noninterest income in the following categories: asset management and brokerage, capital markets and advisory, card and cash management, lending and deposit services, and residential and commercial mortgage. We believe this non-GAAP measure serves as a useful tool for comparison of noninterest income related to fees.

Pretax Pre-Provision Earnings (non-GAAP)																		Three months ended
																		September 30						June 30						September 30
Dollars in millions																		2026						2026						2025
Income before income taxes and noncontrolling interests																		$	2,622					$	2,586					$	2,287
Provision for credit losses																		189						191						167
Pretax pre-provision earnings (non-GAAP)																		$	2,811					$	2,777					$	2,454

Pretax pre-provision earnings is a non-GAAP measure and is based on adjusting income before income taxes and noncontrolling interests to exclude provision for credit losses. We believe that pretax, pre-provision earnings is a useful tool to help evaluate the ability to provide for credit costs through operations and provides an additional basis to compare results between periods by isolating the impact of provision for credit losses, which can vary significantly between periods.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 18

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

Noninterest Expense Excluding Integration Costs and Significant Items (non-GAAP) Noninterest Income Excluding Integration Costs and Significant Items (non-GAAP)
			Three months ended																					Three months ended
			September 30						June 30						Change												September 30			September 30						Change
Dollars in millions			2026						2026						$						%						2026			2025						$						%
Noninterest expense			$	3,751					$	4,098					$	(347)					(8)		%				$	3,751		$	3,461					$	290					8		%
Contribution to PNC Foundation			—						(140)																		—			—
Integration costs			(27)						(121)																		(27)			—
Noninterest expense excluding integration costs and significant items (non-GAAP)			$	3,724					$	3,837					$	(113)					(3)		%				$	3,724		$	3,461					$	263					8		%
Noninterest income			$	2,356					$	2,768
Gains related to Visa share exchange			11						448
Visa Class B-3 derivative fair value adjustments			(36)						(85)
2Q26 loss on sale of securities (a)			—						(139)
Integration costs			(9)						(6)
Noninterest income excluding integration costs and significant items (non-GAAP)			$	2,390					$	2,550
Pretax, pre-provision impact of integration costs and significant items			$	(61)					$	(43)
Income taxes (benefit) (b)			(13)						(28)
After tax impact of integration costs and significant items			$	(48)					$	(15)

(a)3Q26 results include a $(1) million loss on sale of securities that is not included in these adjustments as a significant item because it is immaterial and its inclusion would not alter the 3Q26 after-tax impact of integration costs and significant items of $0.12 per common share.

(b)Income taxes on integration costs and significant items are calculated at a statutory tax rate of 21% on pretax, pre-provision earnings. 2Q26 significant items tax impact also includes the benefit of shares donated to the PNC Foundation.

Noninterest expense excluding integration costs and significant items is a non-GAAP measure and is based on adjusting noninterest expense to exclude integration costs related to the FirstBank acquisition and significant items during the period. The significant items are described in the Integration Costs and Significant Items section on page 2. We believe this non-GAAP measure to be a useful tool for comparison of operating expenses incurred during the normal course of business. The exclusion of integration costs and significant items increases comparability across periods, demonstrates the impact of significant items and provides a useful measure for determining PNC’s expenses that are core to our business operations and expected to recur over time.

Noninterest income excluding integration costs and significant items is a non-GAAP measure and is based on adjusting noninterest income to exclude integration costs related to the FirstBank acquisition and significant items during the period. The significant items are described in the Integration Costs and Significant Items section on page 2. We believe this non-GAAP measure to be a useful tool for comparison of noninterest income earned during the normal course of business. The exclusion of integration costs and significant items increases comparability across periods, demonstrates the impact of significant items and provides a useful measure for determining PNC’s noninterest income generating activities that are core to our business operations and expected to recur over time.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 19

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

Adjusted Diluted Earnings per Common Share Excluding Integration Costs and Significant Items (non-GAAP)
																		Three months ended
																		September 30						Per Common						June 30						Per Common
Dollars in millions, except per share data																		2026						Share						2026						Share
Net income attributable to diluted common shareholders																		$	1,994					$	4.97					$	1,941					$	4.81
After tax impact of integration costs and significant items																		48						0.12						15						0.04
Adjusted net income attributable to diluted common shareholders excluding integration costs and significant items (non-GAAP)																		$	2,042					$	5.09					$	1,956					$	4.85
Average diluted common shares outstanding (In millions)																		401												403

The adjusted diluted earnings per common share excluding integration costs and significant items is a non-GAAP measure and excludes integration costs related to the FirstBank acquisition and significant items during the period. It is calculated based on adjusting net income attributable to diluted common shareholders by removing post-tax effects of integration costs and significant items in the period. The significant items are described in the Integration Costs and Significant Items section on page 2. We believe this non-GAAP measure serves as a useful tool in understanding PNC's results by providing greater comparability between periods, as well as demonstrating the effect of significant items.

Tangible Book Value per Common Share (non-GAAP)
			September 30						June 30						September 30
Dollars in millions, except per share data			2026						2026						2025
Book value per common share			$	142.17					$	145.52					$	135.67
Tangible book value per common share
Common shareholders' equity			$	56,474					$	58,131					$	53,235
Goodwill and other intangible assets			(14,113)						$	(14,161)					(11,163)
Deferred tax liabilities on goodwill and other intangible assets			400						408						243
Tangible common shareholders' equity			$	42,761					$	44,378					$	42,315
Period-end common shares outstanding (In millions)			397						399						392
Tangible book value per common share (non-GAAP)			$	107.64					$	111.09					$	107.84

Tangible book value per common share is a non-GAAP measure and is calculated based on tangible common shareholders' equity divided by period-end common shares outstanding. We believe this non-GAAP measure serves as a useful tool to help evaluate the strength and discipline of a company’s capital management strategies and as an additional, conservative measure of total company value.

Return on Average Tangible Common Equity (non-GAAP)			Three months ended
			September 30						June 30						September 30
Dollars in millions			2026						2026						2025
Return on average common shareholders' equity			13.89		%				13.61		%				13.24		%
Return on average tangible common equity
Average common shareholders' equity			$	57,278					$	57,556					$	51,969
Average goodwill and other intangible assets			(14,138)						(14,162)						(11,157)
Average deferred tax liabilities on goodwill and other intangible assets			404						412						241
Average tangible common shareholders' equity			$	43,544					$	43,806					$	41,053
Net income attributable to common shareholders			$	2,006					$	1,953					$	1,735
Net income attributable to common shareholders, annualized			$	7,958					$	7,833					$	6,883
Return on average tangible common equity (non-GAAP)			18.28		%				17.88		%				16.77		%

Return on average tangible common equity is a non-GAAP measure and is calculated based on annualized net income attributable to common shareholders divided by tangible common equity. We believe this non-GAAP measure serves as a useful tool to help measure and assess a company's use of common equity.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 20

The PNC Financial Services Group, Inc. Consolidated Financial Highlights (Unaudited)

Taxable-Equivalent Net Interest Income (non-GAAP)																		Three months ended
																		September 30						June 30						September 30
Dollars in millions																		2026						2026						2025
Net interest income																		$	4,206					$	4,107					$	3,648
Taxable-equivalent adjustments																		26						27						30
Net interest income (Fully Taxable-Equivalent - FTE) (non-GAAP)																		$	4,232					$	4,134					$	3,678

The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use interest income on a taxable-equivalent basis 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. Taxable-equivalent net interest income is only used for calculating net interest margin. Net interest income shown elsewhere in this presentation is GAAP net interest income.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 21

Cautionary Statement Regarding Forward-Looking Information

We make statements in this news release and related conference call, and we may from time to time make other statements, regarding our outlook for financial performance, such as earnings, revenues, expenses, tax rates, capital and liquidity levels and ratios, asset levels, asset quality, financial position, and other matters regarding or affecting us and our future business and operations, including our sustainability strategy, that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements are typically identified by words such as “believe,” “plan,” “expect,” “anticipate,” “see,” “look,” “intend,” “outlook,” “project,” “forecast,” “estimate,” “goal,” “will,” “should” and other similar words and expressions.

Forward-looking statements are necessarily subject to numerous assumptions, risks and uncertainties, which change over time. Future events or circumstances may change our outlook and may also affect the nature of the assumptions, risks and uncertainties to which our forward-looking statements are subject. Forward-looking statements speak only as of the date made. We do not assume any duty and do not undertake any obligation to update forward-looking statements. Actual results or future events could differ, possibly materially, from those anticipated in forward-looking statements, as well as from historical performance. As a result, we caution against placing undue reliance on any forward-looking statements.

Our forward-looking statements are subject to the following principal risks and uncertainties.

▪Our businesses, financial results and balance sheet values are affected by business and economic conditions, including:

–Changes in interest rates and valuations in debt, equity and other financial markets,

–Disruptions in the U.S. and global financial markets,

–Actions by the Federal Reserve Board, U.S. Treasury and other government agencies, including those that impact money supply, market interest rates and inflation,

–Changes in customer behavior due to changing business and economic conditions or legislative or regulatory initiatives,

–Changes in customers’, suppliers’ and other counterparties’ performance and creditworthiness,

–Impacts of sanctions, tariffs and other trade policies of the U.S. and its global trading partners,

–Impacts of changes in federal, state and local governmental policy, including on the regulatory landscape, capital markets, taxes, infrastructure spending and social programs,

–Our ability to attract, recruit and retain skilled employees, and

–Commodity price volatility.

▪Our forward-looking financial statements are subject to the risk that economic and financial market conditions will be substantially different than those we are currently expecting. These statements are based on our views that:

–PNC’s baseline forecast remains for continued expansion in 2026 into 2027. Economic growth has remained solid despite the increase in oil prices, supported by very strong AI-related capex and resilient consumer spending. We expect real GDP growth above 2% in 2026, with continued modest job gains and the unemployment rate holding roughly steady. Inflation risks remain elevated, with trend core inflation staying above 3% through year-end. Risks to our growth and inflation outlook include a reversal in AI-related sentiment, which would have knock-on effects on both capex and wealth-driven consumer spending, as well as any further sharp rise in bond yields.

–Our baseline forecast is for the Federal Reserve to raise rates twice more, at the December 2026 and March 2027 FOMC meetings, ultimately bringing the federal funds rate to a range of 4.25% to 4.50%.

▪PNC’s ability to take certain capital actions, including returning capital to shareholders, is subject to PNC meeting or exceeding minimum capital levels, including a stress capital buffer established by the Federal Reserve Board in connection with the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) process.

▪PNC's regulatory capital ratios in the future will depend on, among other things, PNC’s financial performance,

the scope and terms of final capital regulations then in effect and management actions affecting the

composition of PNC’s balance sheet. In addition, PNC’s ability to determine, evaluate and forecast regulatory

capital ratios, and to take actions (such as capital distributions) based on actual or forecasted capital ratios,

will be dependent at least in part on the development, validation and regulatory review of related models and

the reliability of and risks resulting from extensive use of such models.

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PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 As Adjusted – Page 22

Cautionary Statement Regarding Forward-Looking Information (Continued)

▪Legal and regulatory developments could have an impact on our ability to operate our businesses, financial condition, results of operations, competitive position, reputation, or pursuit of attractive acquisition opportunities. Reputational impacts could affect matters such as business generation and retention, liquidity, funding, and ability to attract and retain employees. These developments could include:

–Changes to laws and regulations, including changes affecting oversight of the financial services industry, changes in the enforcement and interpretation of such laws and regulations, and changes in accounting and reporting standards.

–Unfavorable resolution of legal proceedings or other claims and regulatory and other governmental investigations or other inquiries resulting in monetary losses, costs, or alterations in our business practices, and potentially causing reputational harm to PNC.

–Results of the regulatory examination and supervision process, including our failure to satisfy requirements of agreements with governmental agencies.

–Costs associated with obtaining rights in intellectual property claimed by others and of adequacy of our intellectual property protection in general.

▪Business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through effective use of systems and controls, third-party insurance, derivatives, and capital management techniques, and to meet evolving regulatory capital and liquidity standards.

▪Our reputation and business and operating results may be affected by our ability to appropriately meet or address environmental, social or governance targets, goals, commitments or concerns that may arise.

▪We grow our business in part through acquisitions and new strategic initiatives. Risks and uncertainties include those presented by the nature of the business acquired and strategic initiative, including in some cases those associated with our entry into new businesses or new geographic or other markets and risks resulting from our inexperience in those new areas, as well as risks and uncertainties related to the acquisition transactions themselves, regulatory issues, the integration of the acquired businesses into PNC after closing or any failure to execute strategic or operational plans.

▪Competition can have an impact on customer acquisition, growth and retention and on credit spreads and product pricing, which can affect market share, deposits and revenues. Our ability to anticipate and respond to technological changes can also impact our ability to respond to customer needs and meet competitive demands.

▪Business and operating results can also be affected by widespread manmade, natural and other disasters (including severe weather events), health emergencies, dislocations, geopolitical instabilities or events, terrorist activities, system failures or disruptions, security breaches, cyberattacks, international hostilities, or other extraordinary events beyond PNC’s control through impacts on the economy and financial markets generally or on us or our counterparties, customers or third-party vendors and service providers specifically.

We provide greater detail regarding these as well as other factors in our most recent Form 10-K and in any subsequent Form 10-Qs, including in the Risk Factors and Risk Management sections and the Legal Proceedings and Commitments Notes of the Notes To Consolidated Financial Statements in those reports, and in our other subsequent SEC filings. Our forward-looking statements may also be subject to other risks and uncertainties, including those we may discuss elsewhere in this news release or in our SEC filings, accessible on the SEC’s website at www.sec.gov and on our corporate website at www.pnc.com/secfilings. We have included these web addresses as inactive textual references only. Information on these websites is not part of this document.

###

Exhibit 99.2

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2026

(Unaudited)

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2026

(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			9-10
Business Segment Results:
Descriptions			11
Period End Employees			11
Net Income and Revenue			12
Retail Banking			13-14
Corporate & Institutional Banking			15-16
Asset Management Group			17
Glossary of Terms			18-19

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on October 15, 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. At 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.

As of June 22, 2026, PNC converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. Our second quarter 2026 Form 10-Q included additional information on this acquisition.

EDUCATION LOAN PORTFOLIO

During the third quarter of 2026, PNC transferred its $1.4 billion education loan portfolio to Loans held-for-sale and incurred $35 million in charge-offs upon transfer. Prior to the transfer, this portfolio was included in loan disclosures within the Other consumer loan class.

THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Third Quarter 2026 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			9
13			Accruing Loans Past Due 90 Days or More			10
14			Period End Employees			11
15			Summary of Business Segment Net Income and Revenue			12
16			Retail Banking			13-14
17			Corporate & Institutional Banking			15-16
18			Asset Management Group			17

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			2026						2026						2026						2025						2025									2026						2025
Interest Income
Loans			$	5,187					$	4,986					$	4,792					$	4,640					$	4,751								$	14,965					$	13,832
Investment securities			1,356						1,263						1,202						1,188						1,211									3,821						3,486
Other			461						445						450						552						565									1,356						1,609
Total interest income			7,004						6,694						6,444						6,380						6,527									20,142						18,927
Interest Expense
Deposits			1,799						1,682						1,735						1,864						1,980									5,216						5,633
Borrowed funds			999						905						748						785						899									2,652						2,615
Total interest expense			2,798						2,587						2,483						2,649						2,879									7,868						8,248
Net interest income			4,206						4,107						3,961						3,731						3,648									12,274						10,679
Noninterest Income
Asset management and brokerage			447						440						420						411						404									1,307						1,186
Capital markets and advisory			433						577						463						489						432									1,473						1,059
Card and cash management			769						772						738						733						737									2,279						2,166
Lending and deposit services			358						346						340						342						335									1,044						968
Residential and commercial mortgage			135						144						118						148						161									397						423
Other income
Gains related to Visa share exchange			11						448						—						—						—									459						—
Securities gains (losses)			(1)						(139)						28						(7)						—									(112)						(2)
Other (a)			204						180						97						224						198									481						549
Total other income			214						489						125						217						198									828						547
Total noninterest income			2,356						2,768						2,204						2,340						2,267									7,328						6,349
Total revenue			6,562						6,875						6,165						6,071						5,915									19,602						17,028
Provision For Credit Losses			189						191						210						139						167									590						640
Noninterest Expense
Personnel			2,031						2,273						2,106						2,033						1,970									6,410						5,749
Occupancy			262						252						262						247						235									776						715
Equipment			435						435						415						412						416									1,285						1,194
Marketing			106						110						87						101						93									303						277
Other			917						1,028						898						810						747									2,843						2,296
Total noninterest expense			3,751						4,098						3,768						3,603						3,461									11,617						10,231
Income before income taxes and noncontrolling interests			2,622						2,586						2,187						2,329						2,287									7,395						6,157
Income taxes			525						531						415						296						465									1,471						1,193
Net income			2,097						2,055						1,772						2,033						1,822									5,924						4,964
Less: Net income attributable to noncontrolling interests			16						15						12						13						14									43						48
Preferred stock dividends (b)			73						85						73						83						71									231						225
Preferred stock discount accretion and redemptions			2						2						1						3						2									5						6
Net income attributable to common shareholders			$	2,006					$	1,953					$	1,686					$	1,934					$	1,735								$	5,645					$	4,685
Earnings Per Common Share
Basic			$	4.98					$	4.82					$	4.13					$	4.88					$	4.36								$	13.92					$	11.73
Diluted			$	4.97					$	4.81					$	4.13					$	4.88					$	4.35								$	13.91					$	11.72
Average Common Shares Outstanding
Basic			401						403						405						394						396									403						397
Diluted			401						403						405						394						396									403						397
Efficiency			57		%				60		%				61		%				59		%				59		%							59		%				60		%
Noninterest income to total revenue			36		%				40		%				36		%				39		%				38		%							37		%				37		%
Effective tax rate (c)			20.0		%				20.5		%				19.0		%				12.7		%				20.3		%							19.9		%				19.4		%

(a)Includes Visa derivative fair value adjustments of $(36) million, $(85) million, $(32) million, $(41) million and $(35) million for the quarters ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025 and $(153) million and $(73) million for the nine months ended September 30, 2026 and September 30, 2025, 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			2026						2026						2026						2025						2025
Assets
Cash and due from banks			$	5,755					$	5,951					$	5,646					$	6,777					$	5,553
Interest-earning deposits with banks (a)			24,670						22,794						26,053						32,936						33,318
Loans held for sale (b)			2,753						1,522						1,332						1,939						1,104
Investment securities – available-for-sale			67,175						71,100						71,072						68,135						68,297
Investment securities – held-to-maturity			79,195						78,406						72,040						70,105						73,226
Loans (b)			378,792						367,953						360,923						331,481						326,616
Allowance for loan and lease losses			(4,536)						(4,652)						(4,663)						(4,410)						(4,478)
Net loans			374,256						363,301						356,260						327,071						322,138
Equity investments			12,094						11,735						10,512						10,790						9,972
Mortgage servicing rights			4,049						3,801						3,816						3,659						3,627
Goodwill			13,317						13,317						13,282						10,959						10,962
Other (b)			44,552						44,107						43,015						41,201						40,570
Total assets			$	627,816					$	616,034					$	603,028					$	573,572					$	568,767
Liabilities
Deposits
Noninterest-bearing			$	99,720					$	99,356					$	99,297					$	91,748					$	91,207
Interest-bearing (b)			366,642						350,436						358,351						349,118						341,542
Total deposits			466,362						449,792						457,648						440,866						432,749
Borrowed funds
Federal Home Loan Bank advances			36,512						40,416						21,417						13,000						16,100
Senior debt			36,310						38,144						38,021						38,642						38,695
Subordinated debt			4,239						4,396						4,502						3,016						3,512
Other (b)			2,696						2,767						2,726						2,443						4,037
Total borrowed funds			79,757						85,723						66,666						57,101						62,344
Allowance for unfunded lending related commitments			850						809						832						818						775
Accrued expenses and other liabilities (b)			18,437						15,649						14,206						14,151						13,861
Total liabilities			565,406						551,973						539,352						512,936						509,729
Equity
Preferred stock (c)			—						—						—						—						—
Common stock - $5 par value
Authorized 800,000,000 shares, issued 557,291,841; 557,291,838; 557,213,012; 543,497,966 and 543,412,079 shares			2,786						2,786						2,786						2,717						2,717
Capital surplus			22,059						21,999						21,926						18,922						18,859
Retained earnings			66,715						65,518						64,256						63,266						62,008
Accumulated other comprehensive income (loss)			(6,472)						(4,120)						(3,773)						(3,408)						(4,077)
Common stock held in treasury at cost: 160,049,284; 157,826,113; 155,167,491; 153,084,091 and 151,030,533 shares			(22,735)						(22,175)						(21,568)						(20,912)						(20,517)
Total shareholders’ equity			62,353						64,008						63,627						60,585						58,990
Noncontrolling interests			57						53						49						51						48
Total equity			62,410						64,061						63,676						60,636						59,038
Total liabilities and equity			$	627,816					$	616,034					$	603,028					$	573,572					$	568,767

(a)Amounts include balances held with the Federal Reserve Bank of $23.9 billion, $22.2 billion, $25.3 billion, $32.0 billion and $32.7 billion as of September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively.

(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our second quarter 2026 Form 10-Q included, and our third quarter 2026 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			2026						2026						2026						2025						2025									2026						2025
Assets
Interest-earning assets:
Investment securities
Securities available-for-sale
Residential mortgage-backed			$	35,582					$	37,333					$	34,652					$	33,564					$	34,752								$	35,859					$	34,374
U.S. Treasury and government agencies			27,886						27,972						28,491						28,119						26,799									28,114						25,527
Other			8,563						8,407						8,505						8,202						8,293									8,492						7,875
Total securities available-for-sale			72,031						73,712						71,648						69,885						69,844									72,465						67,776
Securities held-to-maturity
Residential mortgage-backed			53,623						46,512						45,078						42,925						42,667									48,436						41,060
U.S. Treasury and government agencies			17,575						18,687						20,683						23,426						25,540									18,970						27,111
Other			8,121						8,188						7,117						5,983						6,384									7,812						6,912
Total securities held-to-maturity			79,319						73,387						72,878						72,334						74,591									75,218						75,083
Total investment securities			151,350						147,099						144,526						142,219						144,435									147,683						142,859
Loans
Commercial and industrial			232,552						223,711						211,358						198,726						195,903									222,618						190,571
Commercial real estate			36,623						35,057						34,367						30,173						30,850									35,357						31,911
Consumer			54,704						55,334						55,483						54,884						54,238									55,171						53,840
Residential real estate			48,295						49,094						49,675						44,146						44,941									49,016						45,526
Total loans			372,174						363,196						350,883						327,929						325,932									362,162						321,848
Interest-earning deposits with banks (c)			27,686						30,734						32,612						32,009						35,003									30,327						33,815
Other interest-earning assets			14,904						13,985						12,457						18,618						12,759									13,799						11,432
Total interest-earning assets			566,114						555,014						540,478						520,775						518,129									553,971						509,954
Noninterest-earning assets			62,772						61,256						60,984						55,071						53,404									61,652						53,350
Total assets			$	628,886					$	616,270					$	601,462					$	575,846					$	571,533								$	615,623					$	563,304
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market			$	82,821					$	81,402					$	85,196					$	78,742					$	75,890								$	83,131					$	73,297
Demand			135,951						136,487						137,558						132,591						128,962									136,660						126,760
Savings			105,192						102,624						100,940						97,188						96,627									102,934						97,018
Time deposits			36,012						33,027						35,579						36,180						37,593									34,874						35,363
Total interest-bearing deposits			359,976						353,540						359,273						344,701						339,072									357,599						332,438
Borrowed funds
Federal Home Loan Bank advances			37,595						29,362						16,616						14,671						17,615									27,935						18,538
Senior debt			38,278						38,184						37,383						38,623						38,012									37,952						36,374
Subordinated debt			4,541						4,544						4,200						3,299						3,616									4,430						3,871
Other			5,260						6,843						4,675						3,722						7,070									5,594						6,594
Total borrowed funds			85,674						78,933						62,874						60,315						66,313									75,911						65,377
Total interest-bearing liabilities			445,650						432,473						422,147						405,016						405,385									433,510						397,815
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits			101,208						103,479						99,081						94,834						92,756									101,263						92,760
Accrued expenses and other liabilities			18,831						16,848						16,944						16,646						15,624									17,541						16,382
Equity			63,197						63,470						63,290						59,350						57,768									63,309						56,347
Total liabilities and equity			$	628,886					$	616,270					$	601,462					$	575,846					$	571,533								$	615,623					$	563,304

(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 $26.9 billion, $29.9 billion, $31.8 billion, $31.3 billion and $34.2 billion for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025 and $29.5 billion and $33.1 billion for the nine months ended September 30, 2026 and 2025, 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
			2026						2026						2026						2025						2025									2026						2025
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available-for-sale
Residential mortgage-backed			3.92		%				3.85		%				3.72		%				3.80		%				3.82		%							3.83		%				3.76		%
U.S. Treasury and government agencies			3.96		%				3.94		%				4.04		%				4.29		%				4.58		%							3.98		%				4.56		%
Other			4.07		%				4.01		%				4.00		%				3.97		%				3.91		%							4.02		%				3.75		%
Total securities available-for-sale			3.95		%				3.90		%				3.88		%				4.02		%				4.12		%							3.91		%				4.06		%
Securities held-to-maturity
Residential mortgage-backed			3.62		%				3.31		%				3.20		%				3.13		%				3.07		%							3.39		%				2.94		%
U.S. Treasury and government agencies			1.67		%				1.64		%				1.59		%				1.50		%				1.51		%							1.63		%				1.52		%
Other			4.42		%				4.36		%				4.23		%				4.28		%				4.35		%							4.34		%				4.36		%
Total securities held-to-maturity			3.27		%				3.00		%				2.84		%				2.70		%				2.65		%							3.04		%				2.56		%
Total investment securities			3.59		%				3.45		%				3.36		%				3.35		%				3.36		%							3.47		%				3.27		%
Loans
Commercial and industrial			5.42		%				5.39		%				5.43		%				5.55		%				5.78		%							5.41		%				5.74		%
Commercial real estate			5.69		%				5.71		%				5.79		%				5.92		%				6.06		%							5.73		%				6.00		%
Consumer			7.06		%				6.94		%				6.99		%				7.09		%				7.18		%							7.00		%				7.14		%
Residential real estate			4.00		%				4.03		%				3.97		%				3.74		%				3.75		%							4.00		%				3.77		%
Total loans			5.50		%				5.47		%				5.50		%				5.60		%				5.76		%							5.49		%				5.72		%
Interest-earning deposits with banks			3.66		%				3.63		%				3.64		%				3.92		%				4.34		%							3.64		%				4.37		%
Other interest-earning assets			5.39		%				4.69		%				4.95		%				4.95		%				5.51		%							5.02		%				5.71		%
Total yield on interest-earning assets			4.90		%				4.82		%				4.80		%				4.86		%				4.99		%							4.84		%				4.94		%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market			2.62		%				2.51		%				2.53		%				2.77		%				3.07		%							2.55		%				3.02		%
Demand			1.66		%				1.60		%				1.61		%				1.78		%				1.96		%							1.63		%				1.91		%
Savings			1.49		%				1.48		%				1.49		%				1.62		%				1.68		%							1.49		%				1.65		%
Time deposits			3.15		%				3.03		%				3.26		%				3.53		%				3.67		%							3.15		%				3.66		%
Total interest-bearing deposits			1.98		%				1.91		%				1.96		%				2.14		%				2.32		%							1.95		%				2.26		%
Borrowed funds
Federal Home Loan Bank advances			3.94		%				3.89		%				3.98		%				4.41		%				4.73		%							3.93		%				4.74		%
Senior debt			5.19		%				5.10		%				5.14		%				5.55		%				5.85		%							5.15		%				5.76		%
Subordinated debt			5.26		%				5.16		%				5.12		%				5.52		%				5.81		%							5.18		%				5.68		%
Other			4.77		%				4.08		%				4.14		%				4.02		%				4.19		%							4.31		%				4.26		%
Total borrowed funds			4.62		%				4.57		%				4.76		%				5.18		%				5.38		%							4.64		%				5.31		%
Total rate on interest-bearing liabilities			2.49		%				2.39		%				2.37		%				2.59		%				2.81		%							2.42		%				2.76		%
Interest rate spread			2.41		%				2.43		%				2.43		%				2.27		%				2.18		%							2.42		%				2.18		%
Benefit from use of noninterest-bearing sources (b)			0.53		%				0.53		%				0.52		%				0.57		%				0.61		%							0.53		%				0.61		%
Net interest margin (c)(d)			2.94		%				2.96		%				2.95		%				2.84		%				2.79		%							2.95		%				2.79		%

(a)Yields and rates are calculated using the applicable annualized interest income or expense for each product, based on its contractual day-count convention (e.g., 30/360; actual/actual; actual/360), divided by the applicable average earning assets or interest-bearing liabilities. This approach accounts for differences in product conventions to reduce seasonal volatility in net interest margin.

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

(c)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.

(d)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, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025 were $26 million, $27 million, $29 million, $31 million and $30 million, respectively. The taxable-equivalent adjustments to net interest income for the nine months ended September 30, 2026 and 2025 were $82 million and $86 million, respectively.

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						2026						2026						2026						2025						2025
Commercial
Commercial and industrial
Financial services						$	49,120					$	44,297					$	42,224					$	37,592					$	33,939
Manufacturing						36,460						35,114						34,977						30,623						31,044
Service providers						28,149						27,756						27,303						25,552						25,159
Wholesale trade						24,160						22,713						21,146						19,843						19,917
Real estate related (a)						19,774						17,994						17,138						15,275						15,405
Retail trade						14,156						13,375						12,973						12,073						12,408
Technology, media and telecommunications						12,952						12,682						13,613						12,324						11,594
Rental and leasing						10,627						9,696						9,281						9,074						8,940
Health care						10,023						9,536						9,526						9,135						9,851
Transportation and warehousing						9,964						9,893						9,872						9,258						8,156
Other industries						24,646						24,859						23,137						22,149						20,681
Total commercial and industrial						240,031						227,915						221,190						202,898						197,094
Commercial real estate						36,960						35,962						34,770						29,565						30,281
Total commercial						276,991						263,877						255,960						232,463						227,375
Consumer
Residential real estate						48,026						48,709						49,567						43,760						44,637
Home equity						26,280						26,280						26,223						25,941						25,942
Automobile						15,345						15,872						16,325						16,591						16,272
Credit card						7,527						7,311						7,069						7,014						6,636
Other consumer (b)						4,623						5,904						5,779						5,712						5,754
Total consumer						101,801						104,076						104,963						99,018						99,241
Total loans						$	378,792					$	367,953					$	360,923					$	331,481					$	326,616

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

(b)During the third quarter of 2026, PNC transferred its $1.4 billion education loan portfolio to Loans held-for-sale.

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						2026						2026						2026						2025						2025									2026						2025
Allowance for loan and lease losses
Beginning balance						$	4,652					$	4,663					$	4,410					$	4,478					$	4,523								$	4,410					$	4,486
Acquisition PCD reserves						—						—						93						—						—									93						—
Acquisition PSL reserves (a)						—						—						229						—						—									229						—
Adjusted beginning balance						4,652						4,663						4,732						4,478						4,523									4,732						4,486
Gross charge-offs:
Commercial and industrial						(131)						(141)						(129)						(85)						(97)									(401)						(309)
Commercial real estate						(33)						(24)						(19)						(15)						(19)									(76)						(101)
Residential real estate						(2)						—						(1)						—						(6)									(3)						(8)
Home equity						(11)						(10)						(10)						(7)						(10)									(31)						(28)
Automobile						(28)						(29)						(31)						(33)						(32)									(88)						(97)
Credit card						(68)						(78)						(74)						(73)						(76)									(220)						(247)
Other consumer (b)						(79)						(42)						(45)						(43)						(44)									(166)						(130)
Acquired loans (c)						—						—						(45)						—						—									(45)						—
Total gross charge-offs						(352)						(324)						(354)						(256)						(284)									(1,030)						(920)
Recoveries:
Commercial and industrial						35						33						33						33						38									101						133
Commercial real estate						1						3						5						3						6									9						19
Residential real estate						3						2						2						3						3									7						8
Home equity						13						7						8						8						7									28						27
Automobile						20						21						20						22						25									61						72
Credit card						19						19						20						15						17									58						47
Other consumer						4						13						13						10						9									30						32
Total recoveries						95						98						101						94						105									294						338
Net (charge-offs) / recoveries:
Commercial and industrial						(96)						(108)						(96)						(52)						(59)									(300)						(176)
Commercial real estate						(32)						(21)						(14)						(12)						(13)									(67)						(82)
Residential real estate						1						2						1						3						(3)									4						—
Home equity						2						(3)						(2)						1						(3)									(3)						(1)
Automobile						(8)						(8)						(11)						(11)						(7)									(27)						(25)
Credit card						(49)						(59)						(54)						(58)						(59)									(162)						(200)
Other consumer						(75)						(29)						(32)						(33)						(35)									(136)						(98)
Acquired loans						—						—						(45)						—						—									(45)						—
Total net (charge-offs)						(257)						(226)						(253)						(162)						(179)									(736)						(582)
Provision for credit losses (d)						141						213						188						93						136									542						567
Other						—						2						(4)						1						(2)									(2)						7
Ending balance						$	4,536					$	4,652					$	4,663					$	4,410					$	4,478								$	4,536					$	4,478
Supplemental Information
Net charge-offs
Commercial net charge-offs						$	(128)					$	(129)					$	(120)					$	(64)					$	(72)								$	(377)					$	(258)
Consumer net charge-offs						(129)						(97)						(133)						(98)						(107)									(359)						(324)
Total net charge-offs						(257)						(226)						(253)						(162)						(179)									(736)						(582)
Net charge-offs to average loans (annualized)						0.28		%				0.25		%				0.29		%				0.20		%				0.22		%							0.26		%				0.24		%
Commercial						0.20		%				0.20		%				0.18		%				0.11		%				0.13		%							0.18		%				0.15		%
Consumer						0.49		%				0.37		%				0.38		%				0.39		%				0.43		%							0.42		%				0.44		%

(a)On January 1, 2026, we adopted ASU 2025-08 - Financial Instruments - Credit Losses (Topic 326): Purchased Loans, and established the initial ACL for purchased seasoned loans (PSLs). Our third quarter 2026 Form 10-Q will include additional information on the adoption of this ASU.

(b)During the third quarter of 2026, PNC transferred its $1.4 billion education loan portfolio to Loans held-for-sale and incurred $35 million in charge-offs upon transfer.

(c)Primarily represents the charge-off of certain loans previously charged off by FirstBank, which were written up upon acquisition to unpaid principal balance as required by purchase accounting.

(d)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						2026						2026						2026						2025						2025									2026						2025
Provision for credit losses
Loans and leases						$	141					$	213					$	188					$	93					$	136								$	542					$	567
Unfunded lending related commitments						40						(20)						14						43						16									34						54
Investment securities						—						(1)						—						—						(1)									(1)						1
Other financial assets						8						(1)						8						3						16									15						18
Total provision for credit losses						$	189					$	191					$	210					$	139					$	167								$	590					$	640

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

			September 30, 2026															June 30, 2026															September 30, 2025
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			$	2,106					$	240,031		0.88		%				$	2,219					$	227,915		0.97		%				$	2,036					$	197,094		1.03		%
Commercial real estate			1,085						36,960			2.94		%				1,035						35,962			2.88		%				1,142						30,281			3.77		%
Total commercial			3,191						276,991			1.15		%				3,254						263,877			1.23		%				3,178						227,375			1.40		%
Consumer
Residential real estate			101						48,026			0.21		%				90						48,709			0.18		%				50						44,637			0.11		%
Home equity			270						26,280			1.03		%				280						26,280			1.07		%				285						25,942			1.10		%
Automobile			150						15,345			0.98		%				160						15,872			1.01		%				153						16,272			0.94		%
Credit card			654						7,527			8.69		%				647						7,311			8.85		%				596						6,636			8.98		%
Other consumer			170						4,623			3.68		%				221						5,904			3.74		%				216						5,754			3.75		%
Total consumer			1,345						101,801			1.32		%				1,398						104,076			1.34		%				1,300						99,241			1.31		%
Total			4,536						$	378,792		1.20		%				4,652						$	367,953		1.26		%				4,478						$	326,616		1.37		%
Allowance for unfunded lending related commitments			850															809															775
Allowance for credit losses			$	5,386														$	5,461														$	5,253
Supplemental Information
Allowance for credit losses to total loans												1.42		%													1.48		%													1.61		%
Commercial												1.40		%													1.49		%													1.68		%
Consumer												1.47		%													1.48		%													1.45		%

(a)    Excludes allowances for investment securities and other financial assets, which together totaled $103 million, $99 million and $101 million at September 30, 2026, June 30, 2026 and September 30, 2025, 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						2026						2026						2026						2025						2025
Nonperforming loans
Commercial
Commercial and industrial
Service providers						$	269					$	131					$	136					$	116					$	119
Wholesale trade						107						106						97						161						96
Manufacturing						110						186						224						98						75
Transportation and warehousing						77						83						71						62						68
Real estate related (a)						63						50						25						27						20
Health care						50						47						42						47						45
Technology, media and telecommunications						41						41						25						27						83
Retail trade						9						14						79						194						36
Rental and leasing						5						4						5						6						13
Other industries						24						23						46						46						64
Total commercial and industrial						755						685						750						784						619
Commercial real estate						559						464						630						574						663
Total commercial						1,314						1,149						1,380						1,358						1,282
Consumer (b)
Residential real estate						319						325						316						320						326
Home equity						465						456						447						439						431
Automobile						81						82						85						83						82
Credit card						12						11						12						13						13
Other consumer						3						4						3						5						3
Total consumer						880						878						863						860						855
Total nonperforming loans (c)						2,194						2,027						2,243						2,218						2,137
OREO, foreclosed and other assets (d)						131						123						139						143						162
Total nonperforming assets						$	2,325					$	2,150					$	2,382					$	2,361					$	2,299
Nonperforming loans to total loans						0.58		%				0.55		%				0.62		%				0.67		%				0.65		%
Nonperforming assets to total loans, OREO, foreclosed and other assets (d)						0.61		%				0.58		%				0.66		%				0.71		%				0.70		%
Nonperforming assets to total assets						0.37		%				0.35		%				0.40		%				0.41		%				0.40		%
Allowance for loan and lease losses to nonperforming loans						207		%				230		%				208		%				199		%				210		%

(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 $86 million, $90 million, $103 million, $105 million and $127 million at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively.

Table 10: Change in Nonperforming Assets

						Three months ended
						September 30						June 30						March 31						December 31						September 30
Dollars in millions						2026						2026						2026						2025						2025
Beginning balance						$	2,150					$	2,382					$	2,361					$	2,299					$	2,141
New nonperforming assets						692						335						539						569						653
Charge-offs and valuation adjustments						(153)						(150)						(152)						(91)						(103)
Principal activity, including paydowns and payoffs						(293)						(174)						(343)						(248)						(299)
Asset sales and transfers to loans held for sale						(3)						(68)						(9)						(33)						(13)
Returned to performing status						(68)						(175)						(95)						(135)						(80)
Acquired nonperforming assets						—						—						81						—						—
Ending balance						$	2,325					$	2,150					$	2,382					$	2,361					$	2,299

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						2026						2026						2026						2025						2025
Commercial
Commercial and industrial						$	106					$	123					$	283					$	182					$	161
Commercial real estate						11						7						90						14						9
Total commercial						117						130						373						196						170
Consumer
Residential real estate
Non government insured						212						305						221						170						166
Government insured						66						67						63						73						79
Home equity						60						65						73						70						73
Automobile						60						59						59						74						70
Credit card						42						37						41						45						45
Other consumer						8						32						33						32						32
Total consumer						448						565						490						464						465
Total						$	565					$	695					$	863					$	660					$	635
Supplemental Information
Total accruing loans past due 30-59 days to total loans						0.15		%				0.19		%				0.24		%				0.20		%				0.19		%
Commercial						0.04		%				0.05		%				0.15		%				0.08		%				0.07		%
Consumer						0.44		%				0.54		%				0.47		%				0.47		%				0.47		%

(a)Excludes loans held for sale.

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

						September 30						June 30						March 31						December 31						September 30
Dollars in millions						2026						2026						2026						2025						2025
Commercial
Commercial and industrial						$	85					$	121					$	50					$	103					$	67
Commercial real estate						102						9						17						98						—
Total commercial						187						130						67						201						67
Consumer
Residential real estate
Non government insured						61						78						69						57						48
Government insured						37						37						41						44						39
Home equity						27						26						32						30						27
Automobile						16						15						15						18						17
Credit card						29						28						31						32						31
Other consumer						5						24						18						21						22
Total consumer						175						208						206						202						184
Total						$	362					$	338					$	273					$	403					$	251
Supplemental Information
Total accruing loans past due 60-89 days to total loans						0.10		%				0.09		%				0.08		%				0.12		%				0.08		%
Commercial						0.07		%				0.05		%				0.03		%				0.09		%				0.03		%
Consumer						0.17		%				0.20		%				0.20		%				0.20		%				0.19		%

(a)Excludes loans held for sale.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 10

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						2026						2026						2026						2025						2025
Commercial
Commercial and industrial						$	69					$	76					$	68					$	57					$	71
Commercial real estate						4						—						1						—						1
Total commercial						73						76						69						57						72
Consumer
Residential real estate
Non government insured						49						42						50						46						38
Government insured						183						188						195						163						126
Automobile						6						4						5						5						4
Credit card						57						56						64						65						63
Other consumer						6						37						39						44						44
Total consumer						301						327						353						323						275
Total						$	374					$	403					$	422					$	380					$	347
Supplemental Information
Total accruing loans past due 90 days or more to total loans						0.10		%				0.11		%				0.12		%				0.11		%				0.11		%
Commercial						0.03		%				0.03		%				0.03		%				0.02		%				0.03		%
Consumer						0.30		%				0.31		%				0.34		%				0.33		%				0.28		%
Total accruing loans past due						$	1,301					$	1,436					$	1,558					$	1,443					$	1,233
Commercial						$	377					$	336					$	509					$	454					$	309
Consumer						$	924					$	1,100					$	1,049					$	989					$	924
Total accruing loans past due to total loans						0.34		%				0.39		%				0.43		%				0.44		%				0.38		%
Commercial						0.14		%				0.13		%				0.20		%				0.20		%				0.14		%
Consumer						0.91		%				1.06		%				1.00		%				1.00		%				0.93		%

(a)Excludes loans held for sale.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 11

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, 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. PNC Wealth Management offers brokerage, investment management and cash management products and services which 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, municipalities and non-profits.

Table 14: Period End Employees

			September 30						June 30						March 31						December 31						September 30
			2026						2026						2026						2025						2025
Full-time employees
Retail Banking			26,440						26,611						28,046						26,168						26,126
Other full-time employees			29,132						29,093						28,320						27,691						27,397
Total full-time employees			55,572						55,704						56,366						53,859						53,523
Part-time employees
Retail Banking			1,347						1,429						1,389						1,427						1,367
Other part-time employees			44						495						46						47						48
Total part-time employees			1,391						1,924						1,435						1,474						1,415
Total			56,963						57,628						57,801						55,333						54,938

THE PNC FINANCIAL SERVICES GROUP, INC. Page 12

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			2026						2026						2026						2025						2025									2026						2025
Net Income (b)
Retail Banking			$	1,425					$	1,747					$	1,349					$	1,266					$	1,351								$	4,521					$	3,885
Corporate & Institutional Banking			1,552						1,588						1,480						1,597						1,545									4,620						4,196
Asset Management Group			128						135						121						124						120									384						360
Other			(1,024)						(1,430)						(1,190)						(967)						(1,208)									(3,644)						(3,525)
Net income excluding noncontrolling interests			$	2,081					$	2,040					$	1,760					$	2,020					$	1,808								$	5,881					$	4,916
Revenue (b)
Retail Banking			$	4,088					$	4,518					$	4,007					$	3,792					$	3,840								$	12,613					$	11,211
Corporate & Institutional Banking			3,212						3,283						3,086						3,175						3,020									9,581						8,602
Asset Management Group			459						462						455						444						433									1,376						1,282
Other			(1,197)						(1,388)						(1,383)						(1,340)						(1,378)									(3,968)						(4,067)
Total revenue			$	6,562					$	6,875					$	6,165					$	6,071					$	5,915								$	19,602					$	17,028

(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)During the second quarter of 2026, PNC updated its internal funds transfer pricing methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 13

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			2026						2026						2026						2025						2025									2026						2025
Income Statement
Net interest income (b)			$	3,246					$	3,291					$	3,237					$	3,022					$	3,050								$	9,774					$	8,933
Noninterest income			842						1,227						770						770						790									2,839						2,278
Total revenue (b)			4,088						4,518						4,007						3,792						3,840									12,613						11,211
Provision for credit losses			115						120						124						155						126									359						377
Noninterest expense
Personnel			561						551						571						535						529									1,683						1,606
Segment allocations (c)			1,069						1,090						1,088						1,020						979									3,247						2,924
Depreciation and amortization			138						138						132						95						97									408						270
Other (d)			336						332						324						327						336									992						933
Total noninterest expense			2,104						2,111						2,115						1,977						1,941									6,330						5,733
Pre-tax earnings (b)			1,869						2,287						1,768						1,660						1,773									5,924						5,101
Income taxes (b)			435						532						412						387						413									1,379						1,188
Noncontrolling interests			9						8						7						7						9									24						28
Earnings (b)			$	1,425					$	1,747		752			$	1,349					$	1,266					$	1,351								$	4,521					$	3,885
Average Balance Sheet
Loans held for sale			$	1,169					$	616					$	562					$	699					$	785								$	785					$	839
Loans
Consumer
Residential real estate			$	37,503					$	38,348					$	38,939					$	33,336					$	34,043								$	38,259					$	34,624
Home equity			24,862						24,859						24,913						24,559						24,551									24,878						24,549
Automobile			15,609						16,058						16,499						16,403						16,035									16,052						15,674
Credit card			7,362						7,128						6,912						6,754						6,561									7,135						6,537
Other consumer			2,648						3,164						3,257						3,320						3,334									3,021						3,357
Total consumer			87,984						89,557						90,520						84,372						84,524									89,345						84,741
Commercial			19,899						20,989						20,423						12,603						12,353									20,435						12,638
Total loans			$	107,883					$	110,546					$	110,943					$	96,975					$	96,877								$	109,780					$	97,379
Total assets			$	127,602					$	130,460					$	130,616					$	113,714					$	114,146								$	129,546					$	114,447
Deposits
Noninterest-bearing			$	60,052					$	60,547					$	58,714					$	52,125					$	52,604								$	59,776					$	52,093
Interest-bearing			207,054						211,055						209,519						191,941						190,652									209,200						190,470
Total deposits			$	267,106					$	271,602					$	268,233					$	244,066					$	243,256								$	268,976					$	242,563
Performance Ratios (b)
Return on average assets			4.43		%				5.37		%				4.19		%				4.42		%				4.70		%							4.67		%				4.54		%
Noninterest income to total revenue			21		%				27		%				19		%				20		%				21		%							23		%				20		%
Efficiency			51		%				47		%				53		%				52		%				51		%							50		%				51		%

(continued on following page)

THE PNC FINANCIAL SERVICES GROUP, INC. Page 14

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			2026						2026						2026						2025						2025						2026						2025
Supplemental Noninterest Income Information
Asset management and brokerage			$	179					$	172					$	161					$	155					$	154					$	512					$	456
Card and cash management			$	350					$	350					$	322					$	328					$	334					$	1,022					$	958
Lending and deposit services			$	211					$	204					$	200					$	199					$	199					$	615					$	573
Residential and commercial mortgage			$	71					$	83					$	63					$	78					$	89					$	217					$	215
Other income - Gains related to Visa share exchange			$	11					$	448					$	—					$	—					$	—					$	459					$	—
Residential Mortgage Information
Residential mortgage servicing statistics (e)
Serviced portfolio balance (in billions) (f)			$	207					$	209					$	212					$	198					$	199
MSR asset value (f)			$	2,908					$	2,762					$	2,786					$	2,638					$	2,622
Servicing income:
Servicing fees, net (g)			$	58					$	61					$	68					$	63					$	60					$	187					$	191
Mortgage servicing rights valuation, net of economic hedge			$	(4)					$	3					$	(27)					$	(5)					$	18					$	(28)					$	16
Residential mortgage loan statistics
Loan origination volume (in billions)			$	1.4					$	1.7					$	1.5					$	1.6					$	1.5					$	4.6					$	4.2
Loan sale margin percentage			2.04		%				2.01		%				2.25		%				1.88		%				1.67		%				2.10		%				1.10		%
Other Information
Credit-related statistics
Nonperforming assets (f)			$	978					$	944					$	932					$	840					$	827
Net charge-offs - loans and leases			$	154					$	123					$	118					$	116					$	126					$	395					$	390
Other statistics
Branches (f)(h)			2,302						2,304						2,315						2,224						2,219
Brokerage account client assets (in billions) (f)(i)			$	97					$	97					$	91					$	91					$	89

(a)See note (a) on page 12.

(b)See note (b) on page 12.

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

(f)Presented as of period end.

(g)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.

(h)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.

(i)Includes cash and money market balances.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 15

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			2026						2026						2026						2025						2025									2026						2025
Income Statement
Net interest income (b)			$	2,045					$	1,992					$	1,942					$	1,965					$	1,888								$	5,979					$	5,470
Noninterest income			1,167						1,291						1,144						1,210						1,132									3,602						3,132
Total revenue (b)			3,212						3,283						3,086						3,175						3,020									9,581						8,602
Provision for credit losses			76						76						77						14						44									229						277
Noninterest expense
Personnel			455						502						460						472						403									1,417						1,149
Segment allocations (c)			436						418						424						422						387									1,278						1,151
Depreciation and amortization			47						50						46						55						46									143						146
Other (d)			168						161						146						158						140									475						436
Total noninterest expense			1,106						1,131						1,076						1,107						976									3,313						2,882
Pre-tax earnings (b)			2,030						2,076						1,933						2,054						2,000									6,039						5,443
Income taxes (b)			473						483						448						451						450									1,404						1,233
Noncontrolling interests			5						5						5						6						5									15						14
Earnings (b)			$	1,552					$	1,588					$	1,480					$	1,597					$	1,545								$	4,620					$	4,196
Average Balance Sheet
Loans held for sale			$	566					$	635					$	665					$	632					$	691								$	622					$	575
Loans
Commercial
Commercial and industrial			$	216,681					$	207,046					$	194,711					$	185,195					$	182,484								$	206,227					$	176,773
Commercial real estate			31,009						29,008						28,802						29,374						30,032									29,614						31,041
Total commercial			247,690						236,054						223,513						214,569						212,516									235,841						207,814
Consumer			4						3						3						2						2									3						3
Total loans			$	247,694					$	236,057					$	223,516					$	214,571					$	212,518								$	235,844					$	207,817
Total assets			$	276,846					$	263,912					$	249,789					$	241,169					$	238,338								$	263,615					$	233,307
Deposits
Noninterest-bearing			$	39,744					$	41,441					$	38,959					$	41,308					$	38,732								$	40,051					$	39,140
Interest-bearing			124,287						117,169						122,219						122,457						116,460									121,233						110,775
Total deposits			$	164,031					$	158,610					$	161,178					$	163,765					$	155,192								$	161,284					$	149,915
Performance Ratios (b)
Return on average assets			2.22		%				2.41		%				2.40		%				2.63		%				2.57		%							2.34		%				2.40		%
Noninterest income to total revenue			36		%				39		%				37		%				38		%				37		%							38		%				36		%
Efficiency			34		%				34		%				35		%				35		%				32		%							35		%				34		%

(continued on following page)

THE PNC FINANCIAL SERVICES GROUP, INC. Page 16

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			2026						2026						2026						2025						2025						2026						2025
Other Information
Consolidated revenue from:
Treasury Management (b) (e)			$	1,175					$	1,171					$	1,171					$	1,199					$	1,122					$	3,517					$	3,252
Commercial mortgage banking activities:
Commercial mortgage loans held for sale (b) (f)			$	23					$	23					$	14					$	34					$	23					$	60					$	73
Commercial mortgage loan servicing income (b) (g)			123						127						120						128						135						370						373
Commercial mortgage servicing rights valuation, net of economic hedge			38						33						28						37						47						99						122
Total			$	184					$	183					$	162					$	199					$	205					$	529					$	568
Commercial mortgage servicing statistics
Serviced portfolio balance (in billions) (h)(i)			$	294					$	294					$	296					$	294					$	293
MSR asset value (h)			$	1,141					$	1,039					$	1,029					$	1,021					$	1,006
Average loans by C&IB business (j)
Corporate Banking			$	146,425					$	139,370					$	128,837					$	121,379					$	118,445					$	138,275					$	114,151
Real Estate			44,466						41,002						41,074						40,836						41,863						42,193						42,555
Business Credit			37,011						36,012						33,944						32,552						32,412						35,667						31,342
Equipment Finance			10,723						10,717						10,595						10,551						10,476						10,678						10,390
Commercial Banking			6,000						5,944						5,976						5,904						6,063						5,973						6,173
Other			3,069						3,012						3,090						3,349						3,259						3,058						3,206
Total average loans			$	247,694					$	236,057					$	223,516					$	214,571					$	212,518					$	235,844					$	207,817
Credit-related statistics
Nonperforming assets (h)			$	1,216					$	1,066					$	1,309					$	1,375					$	1,323
Net charge-offs - loans and leases			$	106					$	105					$	92					$	49					$	53					$	303					$	200

(a)See note (a) on page 12.

(b)See note (b) on page 12.

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

(f)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.

(g)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.

(h)Presented as of period end.

(i)Represents balances related to capitalized servicing.

(j)During the second quarter of 2026, certain equipment finance activity was centralized and established as a business unit within C&IB. As a result, certain loans were reclassified from Corporate Banking, Commercial Banking and Other to Equipment Finance. Prior periods have been adjusted to conform with the current presentation.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 17

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			2026						2026						2026						2025						2025						2026						2025
Income Statement
Net interest income (b)			$	188					$	191					$	193					$	184					$	179					$	572					$	541
Noninterest income			271						271						262						260						254						804						741
Total revenue (b)			459						462						455						444						433						1,376						1,282
Provision for (recapture of) credit losses			(4)						(3)						5						(11)						4						(2)						(8)
Noninterest expense
Personnel			122						120						125						120						115						367						351
Segment allocations (c)			135						128						127						133						120						390						355
Depreciation and amortization			11						11						10						11						9						32						27
Other (d)			28						30						30						29						29						88						87
Total noninterest expense			296						289						292						293						273						877						820
Pre-tax earnings (b)			167						176						158						162						156						501						470
Income taxes (b)			39						41						37						38						36						117						110
Earnings (b)			$	128					$	135					$	121					$	124					$	120					$	384					$	360
Average Balance Sheet
Loans
Consumer
Residential real estate			$	9,938					$	9,866					$	9,826					$	9,876					$	9,937					$	9,877					$	9,919
Other consumer			4,070						3,964						3,735						3,673						3,574						3,924						3,530
Total consumer			14,008						13,830						13,561						13,549						13,511						13,801						13,449
Commercial			773						814						835						566						659						807						682
Total loans			$	14,781					$	14,644					$	14,396					$	14,115					$	14,170					$	14,608					$	14,131
Total assets			$	15,185					$	15,048					$	14,804					$	14,505					$	14,575					$	15,014					$	14,562
Deposits
Noninterest-bearing			$	1,523					$	1,459					$	1,411					$	1,387					$	1,426					$	1,465					$	1,517
Interest-bearing			25,375						25,575						26,310						25,564						25,437						25,750						25,621
Total deposits			$	26,898					$	27,034					$	27,721					$	26,951					$	26,863					$	27,215					$	27,138
Performance Ratios (b)
Return on average assets			3.34		%				3.60		%				3.31		%				3.39		%				3.27		%				3.42		%				3.31		%
Noninterest income to total revenue			59		%				59		%				58		%				59		%				59		%				58		%				58		%
Efficiency			64		%				63		%				64		%				66		%				63		%				64		%				64		%
Other Information
Nonperforming assets (e)			$	43					$	45					$	45					$	52					$	58
Net charge-offs (recoveries) - loans and leases			$	(1)					$	1					$	—					$	—					$	2					$	—					$	1
Client Assets Under Administration (in billions) (e)(f)
Discretionary client assets under management
PNC Private Bank			$	146					$	146					$	136					$	138					$	137
Institutional Asset Management			104						101						94						96						91
Total discretionary clients assets under management			250						247						230						234						228
Nondiscretionary client assets under administration			249						256						233						238						212
Total			$	499					$	503					$	463					$	472					$	440

(a)See note (a) on page 12.

(b)See note (b) on page 12.

(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 18

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.

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.

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.

THE PNC FINANCIAL SERVICES GROUP, INC. Page 19

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.

Purchased credit deteriorated assets (PCD) – Acquired loans or debt securities that, at acquisition, are determined to have experienced a more-than-insignificant deterioration in credit quality since origination or issuance.

Purchased seasoned loans (PSL) – Acquired loans that, at acquisition, have not experienced a more-than-insignificant credit deterioration since origination and are deemed "seasoned". A loan is seasoned if it was purchased more than 90 days after origination and PNC was not involved in the origination of the loan. All loans that are acquired without credit deterioration through a business combination are deemed "seasoned".

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.

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